Driving Factors Influencing Auto Insurance Rates

Posted on August 24, 2011 by jcampla

Rates for auto insurance coverage for individuals is determined by the number of risks associated with covering a driver. An individual that appears to be more of a risk to insure is more likely to pay a higher premium than the person with a clean driving record and a stable lifestyle.

How can I lower my auto insurance coverage rate?

An individual can lower their auto insurance premiums by altering their driving habits. A driver can work on improving or maintaining a better driving record. One can also reduce his or her driving routine by joining a carpool or taking public transportation.

Do I actually need auto insurance coverage?

Yes. Most car dealers require that a person provide proof of coverage at the time of a car purchase. Most states have regulations in place that require a certain amount of insurance coverage. In some states, a person can avoid having auto insurance coverage if they can prove that they have substantial resources to cover the costs of an accident.

Am I eligible for auto insurance coverage discounts?

A person that takes a defensive driver course may be able to secure a discount from their auto insurance coverage provider. A person in school may also be eligible for a good student discount if their GPA remains at a certain level. Some individuals can also receive partial refunds for going a specified amount of time without an incident. Others may belong to a professional organization with a relationship with a certain provider that offers discounts to members.

Does age play a role in how much I pay for auto insurance coverage?

Yes. Males under the age of 25 pay a larger amount in insurance because they are viewed as risky. Men in their late twenties are more likely to be married and have a more stable life. For this reason, their insurance premiums can be reduced. Individuals in their fifties are also able to receive lower premiums. This category of individuals is more likely to drive less and have better driving records. Teen drivers are typically inexperienced, so there are more risks associated with insuring younger drivers.

“Our blogs are for general education and information only and may not represent your unique needs. Coverages will vary. Please contact your insurance agent to verify your specific policy terms and conditions.”

 

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Reducing New-Car Costs in Today’s Economy

Posted on August 11, 2011 by jcampla

If you want a sure way to avoid the “sticker shock” or “buyer’s remorse syndrome” when purchasing a new car or truck, then you will need to consider your long term expenses associated with this purchase, and not just the purchase price.

Experts say that most people only anticipate the purchase price, taxes and registration fees associated with a vehicle they are about to purchase. Not too many people think of the insurance they need to protect their vehicle that could come with a hefty price tag or the fuel it may consume regardless of the strict fuel standards of today. For the insurance costs, there some ways to keep these in check while still keeping the type and amount of coverage your vehicle requires.

To help you with the car costs—all of them, from sticker price to your insurance premiums here are some suggestions

Determin in advance what you can afford and what type of vehicle best suits your needs.
Research the crash test and accident data on the vehicle you wish to purchase. You can see crash test videos and analysis from the Insurance Institute for Highway Safety online at http://www.iihs.org/
Shop around and check with several dealerships and get firm quotes in writing. Having different quotes from several dealerships can help you negotiate your best deal. Don’t take the first one! You may go back to it, but still shop it.
If you need to finance the vehicle, shop the rates around and don’t just take the one the dealership may have to offer. Rates vary between banks, and you may find a better one outside of the dealership.

To minimize your insurance costs, here are some suggestions.

Once again, before you buy any vehicle, check into how much it would cost to insure it. You should speak with an independent insurance agent since you may save money because they can shop your coverage against several insurance companies unlike a “captive” agent who represent only one company.

Make sure you ask a few questions of your independent agent or broker.

Are there discounts available if I have several safety features on my vehicle? Your premium is based in part on the car’s market value, the cost to repair it, and its safety record and the likelihood of theft. There are a lot of discounts out there for safety features that reduce the risk of injuries or theft.

Are there any other discounts I may qualify for? You would be surprised as to how many discounts are available. For instance, there is a company that will give you a discount if you will accept your policy via email. These types of little discounts add up. They can reduce your overall insurance expense, and is worth asking about.

How are claims handled with the company? Remember, price should not be the only factor to consider when purchasing insurance. You definitely want to deal with an insurance company that will be there for you when you need it, around the clock.

What or how much coverage do I need? Your specific needs will vary by a lot of factors. Just make sure you select an agent who will answer your questions and can help you find the right combination of price, service and coverages that you need.

“Our blogs are for general education and information only and may not represent your unique needs. Coverages will vary. Please contact your insurance agent to verify your specific policy terms and conditions.”

 

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Some Golf Cart Insurance Tips You May Like

Posted on August 5, 2011 by jcampla

Golf carts can be insured, and many private owners decide to insure their carts rather than risk the costs of a toppled or damaged golf cart. Most car insurance companies offer low cost golf cart insurance policies, and looking into these policies can be a great idea if you own a golf cart. This is particularly true if you use the golf cart to get around outside of your home, for instance if you live in a gated community or if you frequently travel with your cart to a local golf course.

There are many factors that can affect the cost of golf cart insurance, but rates are primarily affected by the age of the golf cart owner and whether the golf cart is powered by gasoline or by electricity. Even owners with high risk factors can find affordable golf cart insurance premiums, however, as the potential costs of a golf cart accident are relatively low when compared to higher-speed vehicles.

Nevertheless, golf carts often carry expensive equipment, so it’s a good idea to purchase accessory coverage when getting golf cart insurance. Comprehensive and bodily injury coverages are also a good buy, and will help to protect the golf cart, its driver, and passengers in most cases.

Golf cart insurance contracts are relatively simple when compared to other insurance contracts. Nevertheless, it’s a good idea to read over your policy before buying it, and check the exclusions section to learn the circumstances in which a claim would not be paid. Talk to your insurance agent if you have any questions. Be ready to look up any terms in your contract that you don’t understand. You should always research insurance coverage before purchasing it, and this is even true on relatively minor coverages like golf cart insurance. A bit of early research can save you a lot of hassle down the road, and you’ll feel more confident in the coverage that you purchase for your cart.

“Our blogs are for general education and information only and may not represent your unique needs. Coverages will vary. Please contact your insurance agent to verify your specific policy terms and conditions.”

 

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Business Contents Carried in Your Car

Posted on July 20, 2011 by jcampla

If you own or manage a business, then you know how the importance of everything from your goods and products to the equipment you use. Such items really help one build their business profits. However, one should not assume that any business contents carried in the car are covered by a standard insurance policy.  Instead, it is important to read a insurance policy to see exactly what is covered so that there are no unpleasant surprises in the event of an emergency.

It is important to read your automobile policy to see if items that are carried in it will be covered just as much as the car and injuries to you or your passengers. Some policies will cover contents in an automobile, others will not. Many personal polices do cover business contents, You may need to buy extra coverages in your business policy or your commercial auto policy, or other business insurance that will cover all of the products and equipment carried in your vehicles. For example, would you have coverage if your laptop is damaged in a car crash?

Insurance policies are meant to provide people with a safety net. A business can only succeed if a company has adequate coverage. This means that a business owner or manager can rest assured that every possible emergency of situation can be easily handled. Meet with your independent insurance agent to review your insurance program and ensure the security of your auto contents.

Our blogs are for general education and information only and may not represent your unique needs. Coverages will vary. Please contact your insurance agent to verify your specific policy terms and conditions.

 

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How To Create A Hurricane Storm Kit For Your Business

Posted on July 13, 2011 by jcampla

This year is predicted to be “a big one” in terms of hurricane activity! Just to get you started on your preparations, here’s a quick checklist of supplies. This is the simplest way to prepare in advance.

As a business that may need to run after the storm, your storm kit should always have the following! Get these ready early, and consider giving one of the personal supply kits to each employee. Be sure to use sealed, waterproof boxes. You could even make two or three kits and send them home with different managers.

  • Extension cords
  • Small desk lamps and spare bulbs
  • Manual phones that require no power to operate
  • Duct tape
  • Water
  • Granola bars and snack foods
  • Wet wipes
  • 50′ phone extension cords and couplers
  • Gas/Fuel for generators
  • Batteries (AA, AAA, C, and D’s)
  • Bug Spray
  • Flashlights
  • Candles and matches and lighters
  • Lanterns and oil
  • Bug Spray and sunscreen
  • Fix a Flat
  • Fire extinguisher
  • Coolers for ice, etc.
  • Fans
  • Antibacterial cleaning wipes, and old towel or two
  • All office supplies, including the small items like paper clips, erasers. Copiers run out of ink even if you have a generator.
  • Your back up drives, thumb drives, discs, etc
  • A list with everyone’s contact information, laminated, and a phone tree.

    If the storm is bad enough that any of your staff is homeless or affected in a big way – you’ll need everyday personal supplies like:

  • Sundries (shampoo, cream rinse, soap, razor’s, toothpaste, toothbrushes, hair brushes, shaving cream, lotion, & deodorant, sunscreen, bug spray)
  • Personal feminine hygiene products
  • Handi-wipes; any kind of clean up cloths in packaging i.e. pamper or huggie wipes.
  • Hand sterilizer products
  • Due to the stress, you will need Mylanta, Pepto, Imodium, Alka Seltzer, Aspirin, Tylenol, etc.
  • Paper products (toilet paper, paper towels, paper plates, plastic glasses, plastic ware, tissues)

    Food items that are useful:

  • Dinners in a can like stew, thick soups, chow mien – and a can opener!
  • Other canned goods
  • Crackers and breakfast type foods, breakfast bars for example
  • Water, soda, instant tea, coffee
  • Sweets like small pre-packaged cookies, twinkies, graham crackers, raisins etc.
  • Packaged chips, pretzels, nuts and snacks
  • Peanut butter and jelly

You will notice this list could also be used to create a home storm kit with some minor modifications!

 
“Our blogs are for general education and information only and may not represent your unique needs. Coverages will vary. Please contact your insurance agent to verify your specific policy terms and conditions.”

 

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How Do Water Beds Affect My Home Insurance

Posted on June 28, 2011 by jcampla

Water beds are a comfortable and popular alternative to traditional mattresses, but unfortunately, their owners have to take a few special considerations into account when purchasing them. Water beds are extremely heavy, and they’re filled with water; this makes them much riskier than normal mattresses. When buying a water bed, it’s a good idea to do a bit of preliminary research with your home insurance company to avoid any nasty surprises.

You may not be able to file a claim with your homeowner’s insurance company if your water bed springs a major leak, as many homeowner’s insurance policies don’t cover water beds. There are a number of reasons why water bed coverage isn’t automatic, but the simplest reason is that home insurance companies see water beds as an unnecessary risk. Insurance companies don’t want to provide coverage on any unnecessary risks unless they’re getting paid for the inconvenience.

There is some good news here for water bed owners. A home insurance company might offer a special add on coverage for damage caused by a water bed. You’ll have to ask your insurance agent to check, as such coverages may not be referred to specifically as a “water bed coverage.” Instead, coverage is likely to be under something like “additional water related damage” or “appliance caused damage.” Your insurance agent will have all of the information that you need to keep your home protected and safe, and extra coverage for your water bed will usually be extremely affordable. It’s a good idea to opt for the additional coverage–you’ll have some peace of mind to go with your comfortable bed, and you won’t have to worry about the unexpected.

“Our blogs are for general education and information only and may not represent your unique needs. Coverages will vary. Please contact your insurance agent to verify your specific policy terms and conditions.”

 

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Power Struggle: The Cost of Electrical Surge

Posted on June 21, 2011 by Pat

Your family is forced to stay home due to the big storm hovering over the house. The comforting sounds and bright screen of your 52” LCD  television eclipses the noise from outside. Then it happens: Just as you’re about to discover who gets voted off the island, your family is startled by  sudden darkness.

After the outage forces your family to live in darkness for a few hours, the local power authority flips the switch and all is well…for a moment. The sudden surge of power is too much for your electronics to digest, and they’ve returned to oblivion.

American households spend billions on electronics annually. The average household contains thousands of dollars of electrical goodies like appliances and electronics, including televisions and computers. Limitations found in most standard forms of home insurance could leave you in the dark; such limitations say your insurance policy will not pay for damage to electronics that is caused by a power surge.

Renters and condominium unit-owners will not find comfort in their standard insurance policies, either; the same limitations usually apply.

A sudden surge in electrical current is not uncommon. There are a number of surge-protection devices designed to prevent this from compromising the life span of your most precious toys. But this hardware is not full-proof, and can still leave you and your family in the dark.

Losing your electronics due to power surge can be a financial disaster. Imagine having to replace that $2,000 television that is hooked up to the $1,000 home theater system you spent two weeks wiring, both of which are now left sizzling after a sudden jolt?

In many home insurance policies, this limitation only applies to personal property, not to “building property.” This means items that are considered part of your house, such as a built-in range, burglar alarm system or central heating/AC system are covered by your home insurance if bereft of life due to power surge. However, this is not true for all home policies.

There is hope. Most standard home insurance policies can be modified to cover losses to property caused by electrical surge. If your current policy cannot be modified, consider asking your agent to shop for a policy that includes the coverage or can be modified to do so.

Others may have a second option. Some power companies offer insurance for surge protection. They add a premium to your power bill, and in return offer insurance which can provide valuable coverage and allow you to collect damages without making a claim against your home insurance company or paying a deductible.

The cost of insurance provided through a power company varies; one major provider charges between $5 and $13 monthly for coverage ranging from $2,000 to $5,000.

However you chose to do so, purchasing this insurance coverage can be a tremendous relief for you and your family if the sudden voltage puts your prized possessions out to pasture. Talk to your Trusted Choice® independent agent for more information.

We are your Trusted Choice® agency and represents multiple insurance companies, so we can offer you a variety of personal and business coverage choices and can customize an insurance plan to meet your specialized needs.

“Our blogs are for general education and information only and may not represent your unique needs. Coverages will vary. Please contact your insurance agent to verify your specific policy terms and conditions.”

 

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Event Coverage for Unthinkable Mishaps

Posted on June 8, 2011 by jcampla

Suppose your company is hosting a conference in Tampa when the unthinkable happens. Fortunately, conference planning included purchasing insurance for event coverage. For instance, a named hurricane misses the weather radar and bears down on your black-tie event. The storm sends inebriated drivers onto the highway, rushing to make quick get-aways. Wrecks occur and arrests are made. In the aftermath, a series of lawsuits land on your desk.

Event coverage is a type of liability insurance that protects event planners from losses due to bodily injury or property damage caused by the insured’s employees or vendors. The coverage insures against specific mishaps, such as faulty products mistakenly handed out in gift bags. Additional coverage is available for liquor liability and weather, particularly hurricanes.

Many types of events can be covered, such as weddings, fairs, festivals, conventions, dances, concerts and religious ceremonies.

Venues usually require liability for $1,000,000. Vendors often need additional insured status as well. Sometimes, vendors will ask for waivers of subrogation. A waiver prevents an insurance company from recouping losses at the vendor’s expense because of negligence.

Cancellation insurance also needs to be considered. Cancellations may be necessary for a variety of reasons. Also, a third-party damage policy protects against property damage happening to a venue under your watch.

Several policies are available that are targeted for the Sunshine State. Hurricane cancellation policies for coastal states are critical. The event usually must be rescheduled within the next year in case it needs to be cancelled because of a hurricane.

Talk to your independent insurance agent for more information about how to cover your big event.

“Our blogs are for general education information only and may not represent your unique needs. Coverages will vary. Please contact your insurance agent to verify your specific policy terms and conditions.”

 

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What is Directors and Officers Insurance

Posted on May 26, 2011 by jcampla
Directors and officers coverage is a liability insurance policy that provides the management of a company with protection against a law suit if it is due to the performance of their positions.

One type of liability coverage is employment practices liability, also called fiduciary liability. It provides coverage for law suits relating to hiring, discrimination, and harassment. This coverage does not always extend to the directors and officers of a company.

Another type of liability coverage is errors and omissions liability which provides protection from a lawsuit that alleges a company was neglectful or did not perform correctly in relationship to the company’s products and services. However, the financial issues which can cause lawsuits against Directors and Officers may be excluded in the typical E&O policies.

There are several reasons for a company to purchase directors and officers insurance. When a company forms a board of directors they will likely require the directors and officers to have liability insurance. Those who invest in a company may also require directors and officers coverage. It has become more common for investors to sue companies and the directors and officers with securities fraud if the stock value drops drastically in value. Finally when there are employees. it opens the company up to being sued for employment practices.

Lawsuits can be brought against a company from employees, stockholders, or investors. Directors and officers are commonly also named individually in these type of lawsuits. An individual will not want to put their own financial assets at risk to serve on a board without appropriate liability insurance. Talk to your insurance agent today to be sure you have adequate protection against lawsuits.

“Our blogs are for general education information only and may not represent your unique needs. Coverages will vary. Please contact your insurance agent to verify your specific policy terms and conditions.”

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Basic Homeowner’s Insurance Tips That Can Help You Save.

Posted on May 18, 2011 by jcampla

If you financed your home, homeowner’s  and possibly flood insurance is a necessary purchase since you have a mortgage, but even if you own your home outright, you should insure your home unless you are prepared to pay for all damages or liability yourself!

Home insurance provides you, the homeowner, a tremendous amount of  financial protection in the event of fires, theft or natural disasters. However, the specific coverages that are afforded by different homeowner’s insurance policies can vary significantly quite a bit…especially here in Florida!

Most home insurance policies will provide the aforementioned protection from natural disasters, but some types of disasters like hurricanes, earthquakes and floods are only covered by certain insurers or by special add-on coverages to a standard home insurance policy. Therefore, it is important to know what you’re paying for in advance, so every home insurance buyer should find out which protections are afforded by a policy before purchasing it. It’s often a good idea to buy one or more add on coverages to stay safe. This is particularly true for policy holders that live in areas which have notable risks like Florida and the Tampa Bay area. For instance, home owners out West regularly buy earthquake insurance, as fault lines are more common in that part of the country. State and local law may also impact which coverages are available on your home insurance plan.

Homeowner’s insurance doesn’t just cover your residence. It can also pay for injuries that occur at your residence, although such coverages are extremely complex. You should take the time and talk through your home insurance policy with your agent. This will help you understand what is and what isn’t covered on your policy in advance, and you’ll be able to make an educated decision about buying more or even less home owner’s insurance. You’ll get an education  about the many factors that affect your home insurance rates, and how to control them for a lower cost policy.

Always remember to shop around before buying, and be careful to read the exclusions section of your home insurance contract. This will help you to buy a dependable, low cost policy that adequately protects your home and the people who live in it and visit it.

“Our blogs are for general education and information only and may not represent your unique needs. Coverages will vary. Please contact your insurance agent to verify your specific policy terms and conditions.”

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