Today many people are turning to the internet to purchase car insurance. Insurance companies have made it very easy to purchase online, however, the internet insurance buyer often doesn't realize what they are missing by doing it this way. Here are a few things to keep in mind:
Advice to Get the Correct Coverage's: Insurance agents advise you on having the correct coverage for your personal situation. Many of the online companies claim they can save you 15%...but a lot of the time the savings comes from cutting coverage. Your financial future can be destroyed if you are involved in a lawsuit and don't have enough coverage! Having an insurance expert who advises you to make sure you are covered correctly is HUGE!
One Person to Talk With: Having a reliable agent is very important. The phrase 1-800-Who-Cares applies to many of the online companies. Every time you call them, you speak to a different person in their call center on the other side of the country and hopefully it's a person you can understand! Working through an independent agent gives you one person to talk with and someone who knows you and your family personally.
Help with Claims: An agent can walk you through the whole claims process. When an accident happens and you need to file a claim, an agent is there for you. Everything from getting the claim called into your company, to finding you a rental car, your agent can help out along the way.
We work for YOU...Not the Insurance Company: Probably, the most important point is that an independent agent works for you, the client, and not the insurance company. In the event something changes in your insurance situation, like a price increase due to claims or you get a few violations, an independent agent can switch you to a different company. Do you think your online company is going to be understanding and help you in the time of crisis??
I'll finish up this Blog post with a recent client story...
One of our clients was hit by another car (insured with a well known online insurance company). Since our client was not-at-fault, the other party turned the claim into their insurance company. Two weeks go by and my client still has yet to hear from a claims adjustor regarding the damage to her car. She was calling the company every few days to check up on this but spoke with a different person each time and never really got an answer. 1-800-Who-Cares! Finally she called me to tell me about her problem and I went to work for her. I was able to get a hold of a claims manager and have an adjustor come out to look at her vehicle that same day.
The moral of this story is...
You get what you pay for! When you buy cheap insurance expect to get cheap service. Agents are very crucial!!
Effective 6/1/10 - Auto insurance is now Mandatory. Make sure to carry your insurance ID card in your vehicle. If you get pulled over and you don't have it you will be fined.
Effective 12/1/10 - Sending text messages while driving is illegal. If you get caught texting while driving it will result in a fine ranging from $20 to $400. Statistics have shown, texting while driving is even more dangerous than drunk driving.
Since the government passed the Health Care Reform Bill, there has been much confusion as to exactly what will change and when.This article in the USA Today provides a concise and clear overview of upcoming changes.Keep in mind this whole health care reform will be a work in progress and undoubtedly will have modifications as the years go on.
Unfortunately, Renters Insurance is a coverage that is often overlooked by both the building owner and the tenant. A Renter's Insurance policy protects the policyholder for not only coverage to their personal property, but it also provides liability coverage. Most personal Renter's policies cost between $10 and $15/month giving the policyholder a significant amount of protection. Take the scenario below...
In April of 2007, one of our insureds had a fire in their building that incurred over $136,000 in damage. After the cause of the fire was determined to have been started by one of the tenant's children, the building owner's insurance company sent a letter to the tenant requesting to be refunded for the full amount. The tenant did not have Renter's Insurance at the time and therefore was stuck with a $136,000 bill to pay! Had the tenant purchased a Renter's policy, the insurance company would have paid that bill.
Whether you are a tenant or building owner, it is crucial that you understand how a Renter's policy can provide financial protection far beyond covering just personal property. If you are the building owner, do yourself and your tenants a favor by requiring all tenants to carry a Renter's Insurance policy.
In case you missed our seminar in December 2009 titled "Am I Hiring a Work Comp Claim" we recorded it for you. The seminar is broadcasted on YouTube in 4 different parts. You can view the first one here and then click the links below for the others.
Please give Eric Petersen a call with any questions from this video. Enjoy.
One of the largest homeowners insurance claims we see results from a water pipe freezing and then bursting. Imagine if you were gone for a week and water continuously was pouring into your house because of a pipe that burst - the claim can easily exceed $30,000.
Solution:
Turn your water off at the main water valve
Don't turn your heat down below 60 degrees
Open your faucets
Open the cabinet doors below sinks
After your vacation you'll be happy to return to a nice dry home and not this:
House in the country.... $250,000
Three luxury cars.... $150,000
Leaving town during a cold Wisconsin winter without turning off the water pipes in your garage......PRICELESS!
After being hit with Wednesday's heavy snows, ice damming may become a concern. Heavy snow on the bottom edges of the roof should be removed if possible (use a roof rake or shovel being careful not to damage the roof or putting yourself in danger). If your situation warrants call a professional.
Things that can be done to prevent future ice dams include:
Ensuring correct installation of insulation at eaves
Ensuring adequate air flow at eaves
Ensuring adequate ceiling insulation to keep warm air from rising to the attic and through to the roof
Keep warm air out of attic be sealing all ceiling penetrations (light fixtures, etc)
Next time you re-roof your home make sure and install an impermeable ice and water member between the shingles and the roof decking
An Umbrella Policy is an additional insurance policy with limits of protection, starting at $1,000,000.These policies are designed to give the insured increased liability coverage above and beyond your personal auto, homeowner or business insurance policy.
Liability insurance pays expenses such as the medical bills, rehabilitative therapy, and lost wages to other parties due to the negligence of the policyholder.
Why do I need one?
In today's litigious society, personal injury lawsuits can be very expensive. In addition to the expenses listed above, a judgment can also include special compensatory judgments for loss of consortium, pain and suffering and other intangible losses.
An umbrella policy provides you with an extra layer of protection, in case of a large lawsuit.They are intended to protect your current assets and future earnings. Whether you are old or young, everyone should have an umbrella policy.
Umbrellas are fairly inexpensive considering the extra coverage you gain. Most of our insurance company's umbrella policies range from $125 - $300 per year.
