Separating Myth From Fact for Auto Insurance

Auto Insurance Agency Seattle, WAWhen it comes to purchasing auto insurance there are many myths that exist. Let’s take a closer look at some of these myths and help you understand why they may not be true.

Auto Insurance Is More Expensive For Men

If you have two individuals of the same age who live in the same town, one male and the other female, it is not true that the male will pay more for his insurance. In fact, there are many variables that come into play when an insurance company determines premium. Some of those are:

  1. Garaging Zip Code
  2. Driving history
  3. Credit report
  4. Loss history
  5. Education level
  6. Type of vehicle
  7. And many more!

To find out what your premium might be, the only way is to get a quote. Compare companies and coverage options that you need by talking to an independent agent. We can compare many companies side by side.

Older Cars Cost Less To Insure

Not true. For instance, your personal injury protection will likely be less on a newer vehicle because it is equipped with more safety features to aid you in the event of an accident – meaning you’re more likely to be injured in an older vehicle without airbags for example. However, insurance costs for comprehensive and collision coverage do tend to go down the older a vehicle gets because it is simply worth less money.

If someone borrows your car, they are responsible for the insurance.

In most states, insurance follows the vehicle. It is called “permissive use.” If you give someone permission to drive your vehicle, you’re also essentially giving them permission to use your insurance. Now, be careful here because if someone is in your household and not listed on your insurance policy and has regular access and use to your vehicle, you may find yourself in a tricky claims situation because that person should be listed on your insurance policy.

I have an auto insurance policy so it will cover me when I’m delivering food or working for a rideshare company.

If your job requires you to deliver food using your own vehicle or you work part time as an Uber or Lyft driver, you need a special insurance policy. Typically an endorsement to your regular auto insurance, this provides coverage for you while you’re using your vehicle for work related purposes.

Your friend pays less for their insurance than you do so that means you’re paying too much.

Insurance is specific to the driver, their history, vehicle, garaging zip code, usage and so many other factors. There are hundreds of different scenarios that can be calculated to determine your auto insurance premiums. Just because your friend pays less for a similar car, does not mean you’re overpaying.

If you ever want to know if you’re paying too much or want to know all your options for auto insurance, call us! As an independent insurance agency, we have many choices for insurance. Oftentimes we can share with you the insurance premiums of up to 10 different insurance companies in the same time it takes to do a single quote. Trust us to find you the best rates and service for your specific situation. We can also help you dispel other myths that exist with insurance premiums.

Flood Insurance in Seattle, WA

Flood Insurance Facts, Coverage & Questions Answered!

The Myth: Homeowners Insurance Covers My Home From All Damage

Flood Insurance in Seattle, WAFlood insurance is one of the more commonly misunderstood insurance coverages. Many homeowners assume that if they have a homeowner’s insurance policy, then they’re covered from all water damage that could occur to their home. This is not true. Flood insurance is not typically included in standard home insurance policies – it requires a separate policy altogether.

Where Can Flood Insurance Be Purchased From?

Most places you purchase home insurance from will also offer you an option for flood insurance. Flood insurance can be purchased easily from your local independent insurance agent – including us!

Is Flood Insurance Expensive?

Flood insurance prices will vary depending on many factors. Those factors can include:

  • Value of your home
  • Location of your home (is it likely to flood – near rivers, streams, swamps etc.)
  • Primary or secondary residences
  • Basements
  • & more.

If you want to get a general idea, we can quickly provide you with a quote or you can go to FEMAs website and look up your home address and assess your risk. The quickest way to understand your risk and get a quote would be to contact our agency.

Doesn’t FEMA Cover My Flood Loss?

In order for FEMA to step in and help, the President of the United States must declare a FEMA emergency. This is done in roughly 50 percent of major floods (according to FEMA.GOV). Even then, the assistance provided is a low interest loan that needs to be repaid. This is not free money given out.

A Pipe Broke In My House, Do I need Flood Insurance?

No. A broken pipe in your home is not what flood insurance is for. This would be covered by your standard home insurance policy.

My Sewer Backed Up Into My Home, Is This Flood Insurance?

No, unless the sewer backed up clearly because of a flood and rising flood waters. There is a coverage available called Water & Sewer Backup coverage. You may ask your agent about this and what it covers.

How Fire & Water Can Create Floods

Do you live in or have property located in an area that recently had wildfires? Trees suck up so much water when they are alive. If these trees die off, this creates excess runoff in areas not typically prone to flooding. This can increase your chances of being involved in a flood.

Only you can decide whether having flood insurance is right for you. While it is mostly optional (unless you live in a high flood prone area and your mortgage carrier requires it), it may help save you thousands of dollars in expenses.

Call us today to run a no obligation quote for you. We can quickly produce numbers for you so you can decide whether or not flood insurance is the right choice for you.

Home Insurance Policy Seattle, WA

Thinking Of Buying An Old or Historic Home? Consider This Before.

Home Insurance Policy Seattle, WAOlder homes exude character. Not only do their walls tell a history, but often the character, details and warmth inside of one of these homes is unmatched in today’s quickly built society. Instead of taking months to build a single home by hand, entire neighborhoods can now be constructed in less time.  If you’re considering purchasing an older home, there are many things to consider during the search as well as when you’re ready to buy.

Outdated Electrical

Updating a home’s electrical system to a more modern electrical panel, grounded switches and updated in-wall wiring can be very expensive. According to Angie’s List, expect to pay anywhere between $8,000-15,000 for an average sized home. Additionally, you may require an upgraded service to the home which can add additional cost. Because you need to get into the walls, this also means repairing all the walls in the home that had to be cut out so you could run the new wiring and disconnect the old.

Outdated Plumbing

Older homes typically will have some form of older plumbing still in place even if the majority of the system was replaced. The most common ones are the sewer line, water supply line and, depending on when the system was updated, could even be out of date again. For instance, if galvanized pipes were replaced by Polybutylene piping in the 70’s, this would also need to be replaced.

Foundation

Depending on the home, it is possible the home doesn’t even have a foundation. Some older homes were built on post and pier meaning they don’t have a concrete foundation they sit on. This can make insuring a home more difficult. The simplest way to check for any foundation problems is to just walk the home. Do the floors feel crooked? Are doors difficult to close? Are there cracks in the walls? These are all signs that the home may have foundation issues.

Dry Rot

Throughout the life of any home, a leak will develop. Whether around a window, the foundation or the roof leaks occur. If a length of time goes when that leak is not detected the water can get into walls and stay wet for years. This can cause dry rot. Detecting dry rot can be difficult. Your best indicator may be your nose. Does it smell musty?

Mold

Mold goes hand in hand with dry rot. If water enters the home and things remain wet, mold can form. Again, use your nose and see if you can detect any musty odors.

Asbestos

Asbestos was a commonly used product in building materials in from the 1930s-1950s. It was used on everything from siding to ceiling and wall plaster materials to duct tape. While buying a home that contains asbestos isn’t necessarily bad as long as the product is not disturbed, it can cause a huge challenge and added cost if you plan to remodel. Do your research.

Lead Paint

Older homes built prior to 1978 have a high likelihood of containing lead based paint. While most have likely been painted over by now, it is important to understand that these paints can be dangerous if you plan to remodel or disturb them.

Insurance Costs

Generally speaking, it is possible that it will cost more to insure an older home. The only way to determine pricing on an individual home would be to get a quote on the specific address. You may find that it is less than insuring a newer home, so do your homework and work with an independent agent who can find you a great rate on your home insurance.

While older homes come with their challenges, it is usually impossible to recreate the charm, character and history these homes have. While you enjoy being a caretaker of this property we can help you protect it with a great home insurance policy.