Auto

Benefits of Having Car Insurance

When you own a vehicle, it is important to invest in car insurance. By having insurance, it will keep you from hefty fines, possible impoundment of your vehicle, suspension of your license, and even jail time that can result if you are convicted of driving without this important form of protection.

Different Types of Auto Insurance

There are several types of coverage drivers should consider. Liability car insurance is the most important part of the insurance because it protects you from the financial and legal repercussions of an accident affecting another vehicle, driver, or property. The benefits of liability car insurance will apply if find yourself responsible for damages to others, not to yourself or your own vehicle, in an accident.

Having only the minimum level of insurance means that you are leaving yourself open to a significant amount of risk if damages from the accident exceed your coverage levels. On the other hand, having too much car insurance means you might be paying excessive premiums for coverage you do not need. It is important to do your research when deciding how much liability insurance you need. We can also advise you on the correct amount you will need

Collision is the form of car insurance that will pay for damages to your own vehicle in an accident. If you owe any money on your car, you will likely be required by the bank to purchase collision insurance. Choosing the right deductible for you is an important consideration. The deductible refers to the part of any damages that you must pay yourself before your policy kicks in. Paying a higher deductible means forking over less each year in premiums because you are taking away some of the burden from the insurance company. If you choose a lower deductible, you will pay more for your policy because the insurance company is assuming more risk.

Comprehensive car insurance coverage is an extension of collision insurance that covers your vehicle when it is on the receiving end of damages from theft, weather, or fire. When your windshield is struck by a rock over the course of your travels, for example, it is comprehensive insurance that will pay to repair the crack. If you ever have a question about insurance or your current policy, make sure to contact us.

Enjoy The Summer With Proper Insurance

Having the right insurance policies for you and your family are important. There are different insurance needs for different people while in different stages of life. If you are not sure what type of policy you need, make sure to contact us. We can recommend the policies that are best for you, your family, and your possessions.

Homeowner’s/Renter’s

If a fire, tornado, or other disaster damages your home or your possessions, this insurance will cover your house and material belongings. It is a good idea to log your possessions in case you need to make a claim. If you do have homeowner’s insurance, make sure that you have guaranteed replacement cost.

Auto

Liability is insurance that covers anything that you caused in an accident, from damage to the car to the health of the humans on the other end. Another popular type of coverage is collision, which pays for your car if it is damaged or destroyed in a wreck. To save money, you can drop your collision or raise your deductible.

Health

If you do not have health insurance and need to go to the hospital, you will be paying those medical bills for years, maybe even decades. Depending on your health concern, you could be talking about hundreds of thousands of dollars here. Contact us and we can help determine which one best fits you and your family.

Disability

Many companies offer rates on long-term disability insurance to their employees. Some suggest choosing a policy where sixty five percent of your current income is covered and try to buy insurance that pays if you cannot perform the job that is required of you. You will still need to be fed and cared for, but you will not be able to generate an income.

Life

You will need to invest in a life insurance policy. Always go with term life because it is affordable for just about anyone and doesn’t include a bunch of rip-off fees. Plus, you can let the policy expire after you build up your retirement savings rather than being stuck with it forever. Unfortunately, about 39% of adults do not have life insurance. If you are not sure what type of insurance is right for you, make sure to contact us and we can advise you on the policies.

Type of Automotive Insurance

When looking for automotive insurance, there are several options you will need to consider. If you are not sure of what auto insurance to have, or have questions, make sure to contact us. We can advise you on the options, and recommend a plan that is right for you.

Liability

Liability car insurance is an important element because it protects you from the financial and legal repercussions of an accident affecting another vehicle, driver, or property. The benefits of liability car insurance will apply if find yourself responsible for damages to others, not to yourself or your own vehicle, in an accident. It is important to assess the exact amount of liability insurance you should purchase in order to derive maximum benefits. Most states require a minimum level of liability insurance, so we can advise you on the coverage needed. Having on the minimum level of insurance means that you are leaving yourself open to a significant amount of risk if damages from the accident exceed your coverage levels. On the other hand, having too much car insurance means you might be paying excessive premiums for coverage you don’t need. It is important to do your research when deciding how much liability insurance you need.

Collision

This form of car insurance will pay for damages to your own vehicle in an accident. If you owe any money on your car, you will likely be required by the bank to purchase collision insurance. You will also need to choose a deductible that is right for you. This refers to the part of any damages that you must pay yourself before your policy kicks in. Paying a higher deductible means handing over less each year in premiums because you are taking away some of the burden from the insurance company. If you choose a lower deductible, you will pay more for your policy because the insurance company is assuming more risk.

If you own an older car, you will have the option to consider whether collision insurance is the wisest option. Some financial planners suggest that you should decline collision coverage if your premium comes out to less than 10% of what you will receive when your car is totaled. If you pay a premium of $250 per year on collision coverage, for example, as well as a $500 deductible, the $2,500 you will receive for your totaled vehicle may not justify your costs.

Comprehensive Coverage

Comprehensive car insurance coverage is an extension of collision insurance that covers the vehicle when it is on the receiving end of damages from theft, weather, or fire. When your windshield is struck by a rock over the course of your travels, it is the comprehensive insurance that will pay to repair the crack. If you are not sure what the best policy would be, make sure to contact us and we can explain the policies for you.

Know What an Umbrella Policy Is

A personal umbrella policy, also know as PUP, is a type of insurance that provides liability coverage over and above your automobiles or homeowner’s policy. So, if your liability coverage is not enough to cover the damages of an accident you cause or an incident on your property, a personal umbrella insurance policy kicks in right where your other liability underlying limits have been reached. An umbrella policy can protect you when your automobile or homeowners insurance isn’t enough.

How the Umbrella Policy Protects You

To better understand how a personal umbrella policy works, here is an example. If you are at fault in a car accident that injures another driver, your regular automobile insurance will cover the other driver up to the limit you selected, say $250,000. But what happens if that limit is not enough to cover the other driver’s needs? If the other driver’s injuries are severe, he may require benefits beyond the $250,000 your policy covers. In this case, he could sue you, which means your personal assets would be at stake. This could be a small amount, but imagine if that injured driver were a surgeon or another high paying professional. What if the accident you caused resulted in an injury that kept him from doing his job for six months? Suddenly, he is suing you for one million to cover the six months he is away from work. Your automobile policy covers the initial $250,000, but where would you come up with the remaining $750,000? A personal umbrella policy can cover the additional costs when your insurance is not enough. The personal umbrella policy could provide the additional coverage you need so that you do not get stuck trying to pay the remaining balance yourself. This extra policy could protect your bank account, home, and other personal property.

Contact us With Any Questions

If you ever have any questions about your insurance coverage or different plans that are out there, make sure to contact us. We can advise you on what the different insurance plans and policies are. We can also recommend what insurance you should invest in. This way you can be covered for any accident or natural disaster that might strike. You have several options to choose from for auto insurance, home owner’s insurance, and health insurance. By having the right coverage, you can plan for any situation.

What You Should Know About Insurance

Having insurance is important. No matter what questions you have about insurance, you can contact us and we can recommend what is best for you. Check with us at least once a year to make sure your policy provides adequate coverage. In your home, the addition of a room, new insulation or remodeling add value to your home and therefore may increase replacement cost.

Homeowners need to purchase home insurance to protect their homes and personal property. Those who rent need insurance to protect their furniture and other personal property. Everyone needs protection against liability for accidents that injure other people or damage their property. You have the option to choose to insure your home and belongings for either replacement cost or actual cash value. Replacement cost is the amount it would take to replace or rebuild your home or repair damages with materials of similar kind and quality, without deducting for depreciation. It is important to insure your home for at least eighty percent of its replacement value. Actual cash value is the amount it would take to repair or replace damage to your home after depreciation.

The better coverage you have, the less you will have to pay out of your own pocket if a disaster strikes. In some cases, the lender decides how much coverage you need and may require you to buy a policy that covers at least the amount of the mortgage. It is important to note that the amount of coverage you buy for your house, contents, and personal property will affect the price you pay.

The deductible is the amount you have to pay out of pocket on each claim and applies only to coverage on your house and personal property. Make sure when choosing a policy that you are comfortable paying the deductible if you make a claim. Remember, a policy with a $100 deductible will cost more than one with a $250 deductible. Higher deductibles may be available at a reduced price. You can also talk to us and we can advise you on the options that you have.

Getting the Right Insurance

As the new year starts, you will want to make sure you have all the insurance coverage you need. If you own a house, you will want to have homeowners insurance. If you are not sure what type of insurance you would need for your home, make sure to contact us. We can advise you on the options that you have, as well as recommending what that is best for you and your home. You can also have automotive insurance. This will help incase you are involved in an accident. No matter what year your car is, auto insurance is a must have. You will also want to sign up for health insurance. If you are twenty five or younger, you may still qualify to be on your parents’ policy. If you are older, you will want to choose a health insurance policy that is right for you. There are several different options that are available depending on deductibles. Make sure to call us to set up an appointment so we can explain the different options and what they mean for you and your family.

Another type of insurance that you can purchase is disability insurance. This will replace the income incase you become incapacitated while you are working. Disability insurance is typically recommended when only one person in the home has an income or one has a much larger income than their spouse. You can also look into purchasing life insurance. Generally, you buy a life insurance policy after you are married or have a child. If a death would crate a financial hardship for those you leave behind, then it is recommended to purchase this policy.

Additional options you have would be investing in an umbrella policy. This is an extra amount of liability coverage that protects over and above your personal and auto liabilities incase they become exhausted. No matter what insurance policy you are looking for, or want to learn more about the ones available, make sure to contact us. By having insurance, you can make sure that you and your possessions are covered incase of an emergency.

What to Know about Auto Insurance

When deciding what type of auto insurance is right for you, there are a few things that you should consider. If you ever have questions or concerns about auto insurance, make sure to contact us. We can advise you on the options you have, as well as recommend what type of insurance is right for you.

Two factors can determine what you pay for auto insurance. The first is underwriting and the second factor is rating. Insurance companies underwrite to assess the risk associated with an applicant, group the applicant with other similar risks and decide if the company will accept the application. Based on the results of the underwriting process, the rating assigns a price based on what the insurer believes it will cost to assume the financial responsibility for the applicant’s potential claim. There are also some other factors that can affect your rate. This can include your driving record, gender and age, marital status, vehicle use, and the make and model of your vehicle.

Sometimes you can qualify for discounts. This could be offered for multiple vehicles, driver education courses, safety devices, anti-theft devices, low mileage, or bundling other insurance options like home insurance. When you have auto insurance, check into collision coverage. This pays for physical damage to your vehicle if your vehicle collides with another object like a tree or car. Comprehensive coverage pays for damage to your vehicle from other causes like fire, severe weather, vandalism, floods, or theft. This coverage will also cover broken glass and windshield damage. Comprehensive coverage is less expensive than collision, but is also optional. If you ever have any questions or concerns about the auto insurance coverage, make sure to contact us. This way we can help you with all your insurance needs so you can be insured while on the road.

Save On the Insurance You Already Have

Knowing what insurance coverage you already have and what you need is important. This will help to keep you protected if you are in an accident or something happens. Given all the insurance coverage you need, any health insurance, homeowner’s insurance, life insurance, or auto insurance, can take a large bite out of your bank account. Fortunately, you can reduce the amount you pay for insurance without jeopardizing protection. To some people, a lower deductible means you get something from an insurance plan. The deductible is the amount you have to pay before insurance starts paying the bills. Others point out that plans with higher deductibles are cheaper. In general, high-deductible plans are much less expensive than low-deductible plans. If you can raise and set aside the money you would need to make your deductible, you can save on your insurance premiums. Insurance is intended to cover risks you cannot afford to bear on your own. The higher the deductible, the lower the premium. By raising your deductibles to one thousand dollars from two hundred and fifty dollars, you may be able to reduce your premium by as much as twenty five to thirty percent. Just make sure you do not raise your deductible so high that you cannot pay that amount in case of an emergency.

How Insurance Policies Work

You can make your insurance policies really work for you by taking advantage of the insurance coverage those policies offer that you may not even know about. Also, in the process, avoid paying for unnecessary coverage. If you have any questions regarding your insurance policies, make sure to contact us so we can answer any and all questions that you might have.

If you have a Trailer, you can have Insurance

If you own an expensive camping trailer, you can insure it best and most economically by adding the trailer to your car insurance policy. Since car insurance covers only the trailer, add Special Perils contents coverage to your homeowner’s policy to get better coverage for the belongings in your trailer in case of damage from a collision or overturn.

Renting a Musical Instrument

Parents commonly rent instruments instead of buying them, especially for the child’s first instrument. The rental agency requires you to insure the rental. You can insure that rented guitar under your homeowner’s policy for four dollars to eight dollars a year. This is opposed to the rental agency’s insurance, which can run almost one hundred dollars a year.

Insuring any Valuables that You Have

If you have any kind of property that is quite valuable and could be stolen, such as jewelry or fine paintings, install a central burglar-and-fire alarm. Installation costs are often two hundred dollars or less. The monthly cost to monitor the alarm is about twenty dollars. You reduce the risk of losing an irreplaceable treasure, and you receive ten percent to twenty percent off your homeowner’s rates. By contacting us, we can help recommend what type of insurance would be right for you and your home.

Understanding Auto Insurance Coverage

If you drive, you need auto insurance coverage. This helps to cover you in the case of an accident. There are several different options and coverage packages that you can choose from. You can contact us and we can advise you on what insurance coverage would be right for you.

Collision Insurance

If you are in an automobile accident, regardless of who is at fault, collision insurance provides protection to replace or repair your vehicle, subject to a deductible.

Comprehensive Insurance to Choose

In the event of hail damage or a tree limb falling on your vehicle, risks not involving an automobile collision, this coverage insures you. Comprehensive coverage pays to repair your vehicle, subject to a separate deductible.

Personal injury protection

This type of insurance coverage is for medical and other expenses resulting from an automobile accident for the people specified in the policy, regardless of who is at fault in the accident. By having the proper insurance policy, you can protect yourself in the case of an accident.

Bodily injury and property damage liability coverage

The insurer agrees to pay damages if you injure someone or his property in an auto accident. With so many different options to choose from, make sure to contact us and we can advise you on the options. We can also recommend which one would be right for you.

Uninsured and underinsured motorists liability coverage

If you are in an accident with another driver who does not carry any or enough liability coverage, uninsured or underinsured motorists liability coverage allows you to collect damages that you personally experience from the accident. Increasing your liability limits and your deductibles may be appropriate for you if you have cash reserves. The additional liability coverage raises your premium; however, increasing your deductibles helps offset those additional costs. In fact, increasing your deductible from $250 to $500 could reduce your collision and comprehensive coverage premium by 15 to 30 percent. Going up to a $1,000 deductible could save you about 40 percent.You buy insurance to cover big financial risks. If you are involved in a major accident and cars are totaled, people are injured or killed, and property is damaged, the total financial impact could be hundreds of thousands, if not millions, of dollars. The liability benefits on your automobile policy help to protect you from this financial devastation. You cannot afford to skimp on liability coverage. If you have a much older vehicle or drive your vehicles until they drop, a time will come when maintaining collision and comprehensive insurance coverage is not financially worthwhile. A general guideline is to drop collision and comprehensive coverage on vehicles worth less than ten times the cost for that portion of your auto policy. Do not drop your liability coverage under any circumstance, your old clunker can still wreak havoc in an accident. Make sure to know the laws of the state regarding insurance. That way you will follow the proper regulations for the insurance policies, your home, and your auto.

What Home Owner’s Insurance Policies Are

If you are a homeowner, your house needs to be insured for a minimum of eighty percent of its value, not counting the value of the land. You must be proactive and review your current homeowner’s coverage at least annually to make sure that your insurance is sufficient to rebuild or repair your home after a disaster. Make sure to contact us in the event of an accident or disaster. That way we can help you get the most out of your insurance coverage that you have for everything. There are also some things you should know about how your insurance coverage works.

Actual-cash-value coverage

If you have a policy that pays the actual cash value of your home’s contents, you will get a check for what your stuff was worth before it was destroyed, not what it would cost to replace it all.

Declarations pages

This annual statement from your insurance company outlines your coverage and your annual premium. Keep it with your policy.

Full replacement cost

If your property is destroyed, the insurance company is obligated to fully replace or rebuild your property without any deduction for depreciation. Obtaining full replacement cost on your personal property will cost you only about 10 to 20 percent more than the actual-cash-value coverage. Comprehensive homeowner’s coverage must include full replacement cost to repurchase all the items in your home today if they are lost, stolen, or destroyed.

Guaranteed replacement cost

Even if the damage exceeds the limits on your policy, the insurance company is obligated to fully replace or rebuild your property without any deduction for depreciation. Guaranteed replacement policies aren’t exactly what you might imagine. Insurers limit the amount that they pay out to replace or rebuild your home to usually no more than 20 percent above the amount for which your home is insured.If your home appreciates beyond the level of coverage, the policy won’t cover that amount — even though you thought you had guaranteed replacement coverage. Guaranteed replacement coverage doesn’t end with just the dwelling itself, either; you must also think about the value of the contents of your home. Liability insurance is also an option. This type of insurance helps protect you financially if someone is injured by you on your property. Rider insurance is really a separate insurance policy that goes with your homeowner’s policy to insure special types of personal property. You must obtain a rider on your homeowner’s policy, for an additional cost, to fully insure these items. A copy of your purchase receipt and an appraisal may be necessary to substantiate the value of the items covered under each rider. You may want to consider whether your home falls under special circumstances that require additional coverage. You may need additional coverage on your home if the following conditions apply. If you operate a home-based business, if you are at risk for windstorm damage or mold, or the home is prone to water damage, you may need to contact us. This way you can have the best insurance policy possible for your home.