We’re flooded daily with insurance commercials claiming that shopping with them will get you the lowest insurance premiums of any company out there. Saving money on your insurance is important, but the lowest insurance premiums are usually accompanied by the lowest insurance coverage.
Determining what insurance coverages you need is something that only a qualified local insurance agent can help you decide. We care more about you being covered adequately than simply giving you the cheapest premiums.
Do you need the auto insurance coverages below? Discuss with us & we’ll help determine what makes the most sense for your personal needs.
Collision Coverage: protection for your car from damage whether at-fault or not. Premiums weigh heavily on the value of your vehicle.
Comprehensive Coverage: pays for damage to your vehicle from things such as contact with an animal, fire, theft or vandalism.
Medical Payments: Commonly known as MedPay or PIP, this covers medical bills as a direct results of an accident regardless of fault.
Uninsured Motorist: Coverage for being involved with an uninsured driver. Both physical damage (your car) and bodily injury are offered.
Underinsured Motorist: Coverage to help cover a gap from a motorist who has insurance, but not enough to cover the loss.
When deciding on what coverage options to have, take these situations into account:
Scenario 1: You purchase a low cost, low coverage liability policy with only $25,000 in Property Damage. You rear-end a new, two week old Toyota Camry totaling the vehicle. The Camry’s replacement cost is $35,000. You have to pay $10,000 out of pocket.
Scenario 2: You are t-boned by an uninsured motorist and have extensive medical bills in excess of $50,000. You do not have uninsured motorist coverage or personal health insurance and your auto medical payments only cover the first $10,000. You have to take the uninsured driver to court to pay your $40,000 in medical bills, in the meantime, you’re responsible for the $40,000 in bills.
Regardless of whether you’re shopping for a new home, auto, boat or motorcycle insurance policy if you want the lowest insurance premiums you should be aware that you’re usually lowering the amount of insurance coverage you have. Depending on your situation, this may not be a wise decision because it puts your financial future at risk by carrying low limits. As always, reach out to our insurance agency with any questions.
Four Home Security Options That Don’t Break the Bank
/in Blog, FYI, Home Insurance, Home Safety, Independent Insurance Agent, TheftMonthly bills can be daunting and for many, the choice of having food and shelter is more important than keeping burglars or robbers away from your home. However, when times are tough, the last thing you want to do is leave your valuables at risk of being stolen. Thanks to many modern security companies, keeping your home secured isn’t as expensive as it used to be. Consider these fun, techy options for home security on the cheap!
Home security doesn’t have to be expensive. Utilizing technology and a little do-it-yourself ambition, you can secure your home and keep your valuables safe and secure.
If you are looking for great home insurance coverage, call us today or visit our website.
Choosing The Lowest Insurance Cost Likely Isn’t Your Best Plan
/in Auto Insurance, Blog, Boat Insurance, Condo Insurance, FYI, Home Insurance, Independent Insurance Agent, Motorcycle InsuranceWe’re flooded daily with insurance commercials claiming that shopping with them will get you the lowest insurance premiums of any company out there. Saving money on your insurance is important, but the lowest insurance premiums are usually accompanied by the lowest insurance coverage.
Determining what insurance coverages you need is something that only a qualified local insurance agent can help you decide. We care more about you being covered adequately than simply giving you the cheapest premiums.
Do you need the auto insurance coverages below? Discuss with us & we’ll help determine what makes the most sense for your personal needs.
Collision Coverage: protection for your car from damage whether at-fault or not. Premiums weigh heavily on the value of your vehicle.
Comprehensive Coverage: pays for damage to your vehicle from things such as contact with an animal, fire, theft or vandalism.
Medical Payments: Commonly known as MedPay or PIP, this covers medical bills as a direct results of an accident regardless of fault.
Uninsured Motorist: Coverage for being involved with an uninsured driver. Both physical damage (your car) and bodily injury are offered.
Underinsured Motorist: Coverage to help cover a gap from a motorist who has insurance, but not enough to cover the loss.
When deciding on what coverage options to have, take these situations into account:
Scenario 1: You purchase a low cost, low coverage liability policy with only $25,000 in Property Damage. You rear-end a new, two week old Toyota Camry totaling the vehicle. The Camry’s replacement cost is $35,000. You have to pay $10,000 out of pocket.
Scenario 2: You are t-boned by an uninsured motorist and have extensive medical bills in excess of $50,000. You do not have uninsured motorist coverage or personal health insurance and your auto medical payments only cover the first $10,000. You have to take the uninsured driver to court to pay your $40,000 in medical bills, in the meantime, you’re responsible for the $40,000 in bills.
Regardless of whether you’re shopping for a new home, auto, boat or motorcycle insurance policy if you want the lowest insurance premiums you should be aware that you’re usually lowering the amount of insurance coverage you have. Depending on your situation, this may not be a wise decision because it puts your financial future at risk by carrying low limits. As always, reach out to our insurance agency with any questions.
Insurance Options For Your Child Before They Leave for College
/in Auto Insurance, Blog, College, FYI, Independent Insurance Agent, Renters Insurance, TheftAttending college is an exciting time for your child. Whether it’s deciding where to go, what to major in or figuring the finances, there are a lot of decisions to think about. Before your child leaves the nest, here are three things to consider when it comes to having the right insurance policy.
1.) Auto Insurance Policy
2.) Educate On Liability
College is an amazing social and learning experience. Be sure your child understands the serious consequences of drinking and driving, buying alcohol for kids underage or the other risks that are associated with drugs and alcohol. One poor decision could impact the rest of their life.
3.) If worried about theft while living off-campus, invest in a renters insurance policy.
If my child experiences theft, will I be fully reimbursed?
This is where actual cash value and replacement insurance coverage comes into play. Replacement cost is very simple: It is literally the cost to replace your item with an item of similar quality. Replacement cost policies tend to be a bit more expensive since you are essential getting a brand new item for one that may have otherwise depreciated. Actual cash value is the cost to replace the item minus any depreciation. So, if your child had wear and tear on an expensive electronic device, your insurance would pay out the cost of the electronic minus the depreciation. Talk to your agent for clarification.
Whether it’s changing your child’s auto insurance or investing in renters insurance, let our local experts at Secord Insurance Agency help you find the best insurance to fit your needs. For more information about Secord Insurance Agency, visit our website.