Auto Insurance Tips:

 

- There are many carriers that offer one year and six month policies. The benefits of a one year policy is your premium is locked in for one full year and your premium may either be increased or decreased with a six month policy. It is always best to compare different insurance carriers and shop around online even if your term is not over yet, because again you have the RIGHT to switch carriers at any time.

 

- When getting a quote always ask for eligible discounts such as defensive driving, good student, student away from school, multi-car, multi-policy (having both car and home with same company), day time running lights, Onstar, and vehicle recovery.

 

- Always go over your bodily injury and property damage coverage's and try to shop for higher than the state minimum coverage because you are buying insurance to protect yourself from being underinsured and from lawsuits.

 

- Having an excellent driving record and no claims, its advised to take a higher deductible for both comprehensive and collision coverage which may save you a few hundred dollars.

 

- Be sure to have both comprehensive and collision coverage on your brand new vehicle. It is very foolish not to have this coverage because in the event of a loss whether it be stolen or damaged in a hit and run you will be the one paying for it. And if you thought property damage covers your own vehicle it doesn't as it covers other third party property damages.

 

- If your car is about 5 to 6 years old, find out what the current book value of the vehicle is and decide if it is still worth insuring for both comprehensive and collision coverage. Otherwise you may just be better off with general liability coverage as your car value may not be worth the addtional coverage.

 

- Owning two vehicles can be a plus because it may not be necessary to pay additional premiums for Rental Coverage. 

 

Home Insurance Tips:

 

- Its encouraged to shop around for new quotes each year because you can probably have your home covered with another company with the same coverage but for a better price.

 

- When closing on a house you have no choice but to buy the appropriate "replacement-value" coverage for the house. Do not buy coverage for the "value of the purchase price" of the home. You will be wasting your money for coverage that you will never be used because insurance companies will only pay what costs to rebuild the home. Have the house assessed for its replacement value as that is what the insurance company will pay when there is a loss.

 

- Always check your home insurance policy each year as the cost of building material fluctuates and if there are any new additions or fixtures you have added. The insurance company that you are with needs to know so they can cover your home appropriately.

 

- If you have been living at your home for a period of time and no claims occurred, its a good idea to get a elect for a higher deductible to save.

 

- Ask for qualifying discounts which may include fire alarms, burglary alarms, new home, and multi-policy (having both car and home with the same company).

 

- Water backup coverage is important as that cover for the backup of any sewer or backups to your home, however this does not cover for Flooding to your home by near by body of water. You would need a separate "Flood Policy" which is issued by the government but several carriers are entitled to provide this insurance.

 

Life Insurance Tips:

 

- The younger you are the lower the life insurance premiums will be locked in for the rest of your policy term. Whole life insurance is always the best choice when you are young as you are healthy and premiums are more affordable.

 

- At a younger age you may also have life insurance policies issued much faster as you may be exempt from medical examinations.

 

- After a certain age or depending on your health condition you may not be elgible for Life Insurance.

 

- When starting a family or buying a home its important to purchase life insurance to cover the length of the mortgage incase something happens to you. This will be able to provide an income replacement and protection to to your family when they need the money to pay off the home upon your passing. Its unforunate to see your child grow up in very nice neighborhood and be forced to move else where because their home cannot be paid for.

 

- When you have the opportunity to purchase life insurance it is always best to buy Whole life rather Term life insurance. Whole life policies last year after year at a locked in premium price with cash value as long as you continue with the policy. Term life insurance is only coverage that last for a term whether it be 10 years, 20, years, or even 30 years. After you exceed the term of the policy you no longer have life insurance coverage. However, you may have the option to covert term life to some whole life insurance.

 

- Whole life insurance is always more expensive than Term Life Insurance. Whole life is always recommended over term life insurance when there is an option.

 

- When you have children some policies that are perfect for them would be paid-up whole-life term policies. This type of life insurance acts as a term policy because you pay for a certain amount of years but is a whole-life policy enforced for the rest of that persons life once the entire term has been paid-up for.

 

- Non-smokers get a much lower rate than those that smoke.

 

- Be sure to ask your insurance agent if you qualify for a preferred rate as that is an excellent discount for having good health, proper weight, and height.

 

- Life insurance may also serve as a tax shelter for your assets as life insurance is not a taxable income to your beneficiaries upon your passing.

 

- Purchase life insurance that you can afford. Do not make the mistake on taking out a policy that you will have for a few years and cancel it. That is not the purpose of buying a life insurance policy. It is to cover your loved ones when they need it the most.

 

- Having an independent life insurance policy is much better than one through work, if you ever decided to change jobs, retire, or get layed off there is a chance that the life insurance policy will end.

 

Be sure to fill out our Free Auto, Home, and Life insurance questionnaires and be on your way to a better protected and affordable insurance policy.