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4 Vital Questions To Ask When Shopping For Your First Home Insurance Policy

Posted by on Dec 9, 2015 in Uncategorized | Comments Off on 4 Vital Questions To Ask When Shopping For Your First Home Insurance Policy

So, you’re in the process of buying your first home. Congratulations! There’s nothing quite like home ownership. However, before you can close on your home and get those keys in your hand, you’ll need to provide proof of insurance coverage. Buying home insurance can be a bit intimidating, especially when you’re doing it for the first time. By taking the time to ask your potential insurance agent some questions, however, you can end up with a great policy. What Claims Have Been Made in the Past? Start by looking into the claims history of your home. Your agent should be able to help you with obtaining this information. Getting the claims history can be a great way to find out things you’ll want to know about your new home but that may not have been disclosed in the sale. For example, perhaps the house has had several claims for sewage problems in the past; this may be an indication that you’ll want to add flood insurance to your policy when you buy. What Discounts Are Available? Most home insurance companies these days offer lucrative discounts for those who are eligible, so don’t hesitate to ask an insurance agent what discounts they offer and which ones you’re currently eligible for. These can easily save you hundreds of dollars over your policy premium. For example, you may be able to receive a hefty discount if you choose to bundle your car and home insurance with the same company. Are Rebuilding Costs Fully Covered? In the event that your home is severely damaged and needs to be totally rebuilt, you’ll want to make sure that the costs of rebuilding are completely covered by your insurance company. Some insurance policies may only cover up to the total amount you paid for the home in the event of a total loss. Realistically, however, it’s going to cost more than that to completely rebuild your home, so you’ll want to make sure you’re totally covered. What Additional Coverage is Recommended? Finally, be sure to find out not only what’s included in your coverage but what’s not included as well. For example, while you may be covered in the event of water damage from a roof leak, you may not be covered for a basement flood. Check with your insurance agent to see what other types of add-on coverage are recommended for buyers in your particular area. To learn more, contact a company like Home Insurance by Caiger-Watson Insurance...

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Home Insurance And Broken Window Glass

Posted by on Oct 6, 2015 in Uncategorized | Comments Off on Home Insurance And Broken Window Glass

Broken windows can be expensive to replace, especially a large or custom size window. Damage to the window frame can add to the cost. If you are thinking about looking to your home insurance for help, likehome insurance by Weeks Insurance & Financial Services Inc, whether it provides coverage for replacing a window depends on the type of policy you buy. There also are additional factors to consider before filing a claim. Open-Peril/Named-Peril Policy What causes the damage to your window affects whether you can file a claim with your insurance company. If you purchase an open-peril policy, unless the policy includes specific exclusions, it should pay for the loss no matter what risk leads to a broken window. But if you have a named-peril policy, the insurance will pay to replace the window only if a peril covered by your policy causes the damage. In other words, the type of policy you have can make a difference when it comes to whether a window is broken during a windstorm or by your 10-year-old’s Frisbee flying through it. General Exclusions If a window in your home gets broken as the result of neglect, don’t count on your insurance policy covering the damage. How insurers look at claims vary, but if a window gets broken due to normal wear and tear, there’s a good chance that you will have to pay for a new window out of your own pocket. Insurers expect homeowners to be responsible for maintaining their properties. Therefore, if you don’t take steps, such as sealing leaks around windows to keep water and air from getting in, cold temperatures can lead to a cracked window pane. Consequently, the insurance company may say that you, and not the weather, are at fault. Also, insurance generally won’t pay to replace a window if it gets broken from the inside of your home. So be careful not to put any blunt or sharp objects through the window glass. The Difference Deductibles and Small Claims Can Make The amount of the deductible on your policy is another factor to take into account before filing a claim. If the deductible is higher than the cost to repair the window, it isn’t worth putting a claim on your insurance history. You may consider it a small claim, and a legitimate one at that, but filing more than one small claim within a period of time can raise the insurance rate you pay. Your insurer also may consider questions you have about whether you should file a claim as if you are actually filing a claim. Look at it this way, even if your policy provides coverage for broken windows, with your deductible, replacing window glass is going to cost you some money of your own...

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Watch Out For These Signs That You’re Paying Too Much For Auto Insurance

Posted by on Aug 6, 2015 in Uncategorized | Comments Off on Watch Out For These Signs That You’re Paying Too Much For Auto Insurance

It can be easy to just get used to having your insurance premium automatically withdrawn from your bank account every month and to just automatically renew your policy every six months. However, not paying close attention to your auto insurance policy can cost you. Watch out for these signs that you are paying a little more than you need to for your auto insurance: Watch Out For Those Administrative Charges If you make payments on your car insurance instead of paying it in full every time your policy comes up for renewal, you are probably paying some administrative charges. Most insurance companies charge you a set amount every month when you don’t pay your policy in full. These are generally noted as “administrative charges” on your bill. They may not look like much, but paying an extra five or ten dollars a month adds up. If your insurance company charges you five dollars a month in administrative charges, you will end up paying an extra thirty dollars for your policy; if your insurance company charges you ten dollars per month in administrative charges, that is an extra sixty dollars that you end up paying towards your policy. The easiest way to get rid of these charges is to pay your bill in full or see in your insurance company is willing to drop these charges. Make Sure You Are Not Overpaying For That Ticket When you receive a moving violation, often times your insurance rates will go up. However, that does not mean that your insurance rates should go up so much that your insurance becomes unaffordable. If you feel like your insurance company is overcharging for your ticket, try shopping around. There are plenty of insurance companies out there that offer affordable policies for individuals with tickets. On the flip side, make sure that your moving violation is removed from your policy. Most states have a set number of years under which an insurance company can penalize you for a ticket; ask your insurance representative how long it is in your state. The day your ticket falls off of your insurance record, call up your insurance agent and see if you can get your rates lowered right away.  Don’t Be Tricked By Low Premiums Finally, make sure you are not tricked by your low premiums. It is easy to get into the habit of filing a claim every time something is wrong with your vehicle because you are carrying such a low premium. However, filing a claim every time you see a new scratch on your car will cost you. The most claims you make, the more your insurance company will charge you for insurance. If you try to switch insurance companies, you may find that they also want to charge you higher rates due to the number of claims that you have filed. A good rule of thumb is if you can afford to pay for the repairs yourself, it isn’t worth filing an insurance claim over and potentially raising your insurance rate for years.  Make sure that you keep an eye on your auto policy. Don’t be tricked into paying unnecessary administrative fees, and make sure that you are not being over penalized for moving violations and tickets. Finally, remember that any claim you file, no...

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Why Renters Need Their Own Property Insurance Policy

Posted by on Jul 9, 2015 in Uncategorized | Comments Off on Why Renters Need Their Own Property Insurance Policy

Do you currently live in a rented house or an apartment? Do you currently have any tenant or other property insurance? Here are some important reasons why you should get insurance to cover your current residence. Your landlord’s insurance doesn’t cover your belongings: You may be under the impression that if a fire breaks out or your home is flooded, then your landlord will reimburse you for any damage. Unfortunately, this is simply not true. Unless otherwise outlined in the lease that you signed, it’s likely that the property insurance that your landlord has will only cover the structure of the building and not the contents of the building. This type of insurance will allow your landlord to rebuild, but won’t cover anything you lost in the process. By getting an insurance policy of your own, you’ll be able to replace things that are lost in a disaster. You may be responsible for damages: If you turn on a tap and forget to turn it off before leaving, you could wind up with a flooded dwelling. If you live upstairs, this could cause damage to any units below you. Even if your landlord has their own insurance, this may not cover accidental negligence such as this. The lease that you signed before moving in may specify that you’re responsible for this kind of damage and may include the option of kicking you out if you don’t pay. Any tenants with damaged belongings may also decide to sue you if they aren’t paid for what was damaged. When you get your own property insurance, you can make sure that it includes reimbursement for damages caused by accidental negligence. This is an especially good idea if you happen to have a curious young child who likes to play with the faucet. Insurance doesn’t just cover your apartment: If you have car insurance, it typically covers damage to the vehicle itself. This means that if someone smashes your window to steal the cell phone that you left on the seat, the car insurance company will replace the smashed window but not the cell phone. If you get tenant property insurance, belongings that are left in your vehicle are also covered. If you live in a tiny apartment and need to store some of your belongings in a storage unit, there are even some insurance policies that will cover you for damage and theft at a secure storage location. Talk to a professional like Idris Insurance Brokers Ltd for...

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Important Information To Put On Police Report After A Car Accident

Posted by on Jun 10, 2015 in Uncategorized | Comments Off on Important Information To Put On Police Report After A Car Accident

If you have been involved in a car accident, a police report is a must, even if the accident has been small. If it was a small accident, you don’t have to call police to the scene. Instead, you can simply visit your local police station to fill out a report there. Without a police statement, you won’t have much evidence that will help provide proof of the facts and details of the accident, which makes it difficult for your insurance to process a claim. Not having one can end up costing you money since you won’t receive the full compensation that you deserve. Here’s all the information that you should be including on the report: Date, Location, Time and Weather Conditions:  When the accident first occurs, it may be helpful to write down all this information yourself. That way, you have it once you are able to fill out the police report. You want to be as specific as possible including the day of the week it occurred, the county, city, and the intersection, route or street on which it occurred. You should also detail the weather conditions of the time of the accident.  Driver and Vehicle Information: If the driver who was at fault for the accident did not stop to provide information, it is important that you try to recover as much information as possible about their vehicle while they are driving away. Try to quickly gather yourself so that you can possibly obtain a full license plate number. If you can’t see the number, at least account for the color and vehicle type. If the driver did stop, be sure to ask to look at their driver’s license. You want to record their address, phone number, driver’s license number, date of birth, and even take note of whether or not their license indicates that they should be wearing eyewear while driving. This is especially important if they were not wearing any.  Gather Witnesses: If there are any witnesses to the accident, be sure that you ask for their name and number so that the police can get ahold of them and take down a detailed account of their statement. This is especially important if the driver who was at fault drove away and there was a witness who got more information about the vehicle then you did.  Read Over for Accuracy: Once the police have finished filling out the police report, ask if you can read it over to be sure that all information is accurate. This will ensure that you can make changes if necessary so that inaccuracy do not affect your ability to go through with a claim. By knowing how to correctly fill out a police report after an accident, you can be sure that the claim is more of a smooth process that ultimately leads to you receiving the proper amount of compensation. For more information about car insurance, visit Cambridge Insurance Brokers (Preston)...

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3 Ways To Save On Insurance As A College Student

Posted by on May 7, 2015 in Uncategorized | 0 comments

Are you a college student on a budget? If so, getting your car insured may be difficult to do, especially if you are in need of full-body auto insurance coverage. Well, rather than shop for a liability plan due to the lower rates, you will find that there are many ways that you can save on your full body insurance coverage, such as: Good Student Discounts: Do you work hard for your grades? If so, you could be rewarded with a major discount when shopping for your car insurance. Many car insurance providers offer big savings for good students that maintain a 3.0 GPA in their academics. This saving can be just enough for you to afford a reliable and high coverage insurance policy, which is why it is important to prove your grades to your provider when signing up for your policy. School Insurance Programs: Many colleges offer programs for their students to make car insurance a bit cheaper. Colleges partner with many insurance companies, which allow them to sell insurance policies at a much cheaper rate. So, before you go out and shop for insurance yourself, definitely take the time to visit your college and see what type of discounted rates they can offer to you. This savings can definitely be the reason why you are able to shop for the plan that you want, which is why it is best to utilize any special programs that your school has to offer. Add Your Policy To Your Parents Account: There are a few start-up costs when signing up for a brand new insurance policy. This means you might have to pay a large sum of money at once, which can easily be difficult for a college student on a budget. There may be an option to bypass having to pay the start-up costs, such as adding your policy onto an existing plan. If you are interested and your parents are willing, definitely consider adding your policy onto their plan. This will prevent start-up costs and allow you to obtain the insurance that you need without having to wait until you have enough to pay the deposit. By utilizing these tips and options, you will be able to save a great deal of money on your insurance policy, which will not only make your premiums more affordable to pay but also ensure your vehicle is fully protected in the event of a car accident. So, rather than avoid full coverage by shopping for a liability policy, definitely take advantage of savings opportunities so you can afford full coverage for your...

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Deadly Twist: A Look At Tornado Alley, And Why You Should Still Get Coverage Even If You Don’t Live There

Posted by on Apr 6, 2015 in Uncategorized | 0 comments

Three of every four tornadoes in the world occur here in the United States. So many tornadoes occur in this country that a certain region even has its own nickname: “Tornado Alley.” Tornado Alley gets most of the attention, to be sure, but just because you do not live within its borders does not mean that you are safe from the onslaught of a tornado. Basics of Tornado Alley The term “Tornado Alley” refers to a very specific region that is conducive to the formation of many, many destructive twisters. Where is Tornado Alley? “Tornado Alley” is a region comprised of several central and Midwestern states. It includes Nebraska, most of Kansas and Oklahoma, the southern part of Minnesota, western Iowa, northwestern Texas, and eastern Colorado and Wyoming. Why These States? The states that make up Tornado Alley are in a unique climate crossroads. The cool, dry air from Canada enters from the north, and the hot, humid air from the Gulf of Mexico enters from the south. The flat, open lands of the Tornado Alley states give these two air patters the chance to mingle. As a result, the atmosphere becomes unstable, creating both updrafts and downdrafts. These weather conditions, facilitated by the Tornado Alley flatlands, lend to perfect tornado breeding grounds. Not the Only Tornado Region Even though Tornado Alley is, by far, the most-recognized region identified with tornadoes, it is hardly the only one. Florida. As a matter of fact, the state of Florida experiences more tornado-related deaths than any other state, including those in Tornado Alley. The death rate is over two and a half times that of Oklahoma, and almost fives times as much as Kansas! Even though more tornadoes occur in Tornado Alley than in Florida, Floridians suffer greater tornado consequences because of the high number of unstable mobile homes, larger elderly population, and lack of horizon visibility. Dixie Alley. Another southeastern region, known as “Dixie Alley,” is highly vulnerable to tornadoes. This region extends from southern Mississippi north into Tennessee. The state of Mississippi actually experiences more tornadoes over the course of the year than any other state, and the tornado region throughout all of Dixie Alley is much longer than of Tornado Alley. Not only that, but in this region, like in Florida, tornadoes are harder to spot because of trees. Combined with the larger number of people living in poverty and in manufactured homes, these factors make the states of Dixie Alley extremely vulnerable to twisters. Florida and Dixie Alley not only have landscapes comparable to tornado development, but also socioeconomic conditions that make residents more vulnerable to these storms. Tornado Alley may be the king of twisters, but the impact is so much greater outside of the region. Just because you do not live in Tornado Alley does not mean that you are immune to the potential effects of a twister. Talk with your home insurance provider about coverage in the event that a tornado–expected or unexpected–should strike. Click here for more...

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4 Reasons You May Want Data Breach Insurance

Posted by on Mar 10, 2015 in Uncategorized | 0 comments

Are you concerned about the possibility of a data breach? If not, you should be — data breaches affect many companies today. When a data breach occurs, your company could lose its own data as well as your customer and employee data. This can lead to widespread identity theft and other fraud issues, which can be costly to address. Data breach insurance can help.  1. You Can Recover Quickly From a Breach Data breach insurance comes not only with insurance coverage but also detailed information and training regarding what you should do if the worst occurs. A data breach can be a very complicated issue and it’s important for you to address the problem as soon as possible and work to reduce the damage. 2. Your Clients Will Be Protected By far the most common issue that occurs during a data breach is that client information is leaked. When client information is leaked, many clients will become very angry — even if your company wasn’t to blame and your company had taken the appropriate steps to secure their data. If you have data breach insurance, you will be able to address their concerns quickly and will be able to keep them happy. This could mean the difference between retaining your customers through a data breach emergency or losing them permanently.  3. You Can Advertise Your Coverage Many customers today are worried about the potential for data breaches. By having the appropriate insurance policy, you can advertise that you are covered in the event that something does happen. Customers will feel far more secure in giving you their data to store. 4. You May Have Third Party Vulnerabilities Don’t think that you don’t need insurance just because your data is secured. Often the breach that occurs is not your own but because of third party software that your company is using, such as a point-of-sale system. Though the breach may occur through a third party, that doesn’t mean that your business won’t be affected; you may experience a loss of consumer faith, business interruptions and other related issues. In this modern world, it’s often not so much whether a data breach will occur but rather when it will occur. Very large, well-prepared companies have fallen victim to data breaches and continue to do so regardless of how much money they spend on their security systems. Data breach insurance will ensure that this type of issue doesn’t have a significant adverse effect on your company. For more information, contact Acumen Insurance Group Inc. or a similar...

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Common Security Questions About Getting Insurance Quotes Online

Posted by on Feb 12, 2015 in Uncategorized | 0 comments

Everybody knows that about 15 minutes is all it takes to obtain an insurance quote for your automobile, but those 15 minutes online may leave you feeling a little concerned about your personal information. During an online car insurance quote, you may be asked a whole line of personal questions from your driver’s registration number to your average monthly salary. While all of this is normally necessary when you are applying for a new policy or obtaining a free insurance quote, there are always going to be questions concerning security in the process. Why would an insurance company need to know your income? Many people are not comfortable disclosing their income online. However, many insurance companies use this to determine the type of payment options that will work out best for you. Furthermore, this can be in place to ensure you will be able to afford insurance on your vehicle. How does an insurance website know what type of vehicle you drive? Just with your name, an insurance company supplies you with an estimation of the car you need to cover. There is no hidden spy camera in your driveway. These websites often use cookies and third-party tracking to determine what you have entered as your covered vehicles before now. How can you tell if the information you are entering is secure? When you are asked to enter personal information online, you should always look for signs that you are using a secure webpage. This is usually indicated by a lock icon on the address bar of your screen and the familiar “https://” precursor at the start of the webpage address. In addition, look for an explanation just below information fields assuring you that your personal entries will be kept secure using encryption. What if you are not comfortable giving information online? In the end, if you are not comfortable tapping out your personal info on the Internet, you always have the option of calling an insurance company for a new quote. It may take a little longer, but knowing your information is safe can be worth it. When it comes down to it, finding insurance quotes online is the easiest way to shop around and compare insurance rates for your vehicle. However, you should never do anything online that makes you uncomfortable. If you have concerns about the privacy of your information, it is always a good idea to talk to an agent over the phone. Contact a company like Northgate Insurance Centre for more...

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Know What The Basic Home Insurance Coverage Options Are

Posted by on Jan 25, 2015 in Uncategorized | 0 comments

In some cases, you may have to have homeowner’s insurance. For example, some mortgage companies will require that you have insurance to cover any damage that could happen to your house. That way, the mortgage company may be able to recover some of their money in case of total destruction of the house. When you are looking at insurance choices, there are some basic coverage choices out there for you.  All Risk Coverage If you choose to use an all risk insurance policy, the coverage covers pretty much everything around your house. It also includes things like personal injuries to both yourself and people who get injured on your property. You will also get coverage for accidental damage. For example, if you are moving your flat-screen, high-definition television and it just slips out of your hands, you can get some money to replace it.  There are some exceptions to all risk coverage. Those will be specifically outlined in your policy, so you know what they are. An example of this may include flood protection insurance. Most common insurance policies don’t cover it as matter of course. You have to add a specific option for that.  All risk insurance tends to be the more expensive choice because of its full coverage.  Designated Risk Coverage This kind of coverage is different from all risk because it only covers certain things. You can designate what things that you would like to insure. That can include things like fire, water damage, hail, and airplane crashes into your house. The things that are generally covered by a designated risk policy are things that will happen to your house. However, one of these policies doesn’t cover things like theft or damage to your belongings. You also aren’t covered for any serious injuries that may occur on your property.  This insurance coverage is generally less expensive because it covers a limited amount of things.  Optional Coverage There are several options that you can choose to add to your homeowner’s insurance policy. That can include things like ID theft protection and exterior source water damage. That option can include flood insurance and water that comes into your house because of broken sewer lines. The water damage coverage in the standard homeowner’s policies covers damage that happens from an interior source like a burst pipe or appliance malfunction.  Choosing the right insurance for you and your needs is important. Knowing what your choices are, and how they fit into your budget, makes it easier for you to make your decision. Contact a company like Adanac Insurance Services Ltd for more...

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