Save Money on Your Insurance

Fri, 30 Oct 2020 22:05:31 GMT

This subject keeps popping up on my Facebook page. An article by Dave Ramsey on how to save money on your auto insurance. Basically it is an ad for agents that he recommends. He gives some pretty generic advice. Bundle and save, various discounts etc. But what I am about to tell you is something most insurance agents will not tell you.

It's cheaper to get insurance when you have insurance. Most preferred carriers want at least 1 year of continuous coverage. No lapses in coverage.

Credit is King. Yes, somehow they have cooked up a blend of prior insurance and credit score to create an insurance credit score. You are better off with no credit than poor credit.

Claims free, that includes glass claims, comprehensive claims, and not at fault accidents. Not just at fault accidents.

Ticket free, if you do get a ticket go to traffic school and have it taken off of your record. Unless you want to be married to your insurance carrier.

You get discounts for having high liability limits. Yes, low liability limits hurt you in the long run. In fact, I have seen better rates for a higher liability limits.

I honestly hope this helps.

Best Regards,

Beth Phagan

When Should I Review My Home Insurance Coverage?

Sat, 07 Sep 2019 00:23:09 GMT

Insurance is an important part of being a homeowner. Not only does it protect you from damages caused by things like fire and vandalism, but it can also protect your personal property or additional structures like garages, and provide liability coverage.

But when is it time to review your coverages? Should you evaluate your coverage monthly, yearly, or somewhere in between?

The most important times to review coverage

Let’s talk about events that should prompt you to review your home insurance coverage.

You’ve received a shiny new gift or bought something expensive: To eliminate the risk of not being covered if someone were to steal personal belongings, it’s important to review your home insurance coverage when you are keeping something expensive in the home.

If you’ve just received a beautiful diamond bracelet, an expensive new television system, or a timeless (and expensive) piece of artwork, it’s important to talk to an agent to ensure that you’re properly covered.
You’ve added square footage to your home: Many insurance companies base your coverage off of the square footage of your home. That means that if you add a new sunroom to your existing structure, it’s important to report it to your agent.

If not, in the event of a damaging fire or thunderstorm, your entire home may not be covered.
You got married: If you’re going to be adding another person to your home, they’ll likely bring all of their belongings with them. That means that the value of items in your home will increase — in which case, you’ll need to contact your agent to increase your coverage.
You’re starting a business out of your home: If you run a business out of your home, it’s important to report this to your insurance agency.

Why? You’ll need to have liability coverage for the employees that will be working under your roof, which will be a change to your normal policy.
Policy renewal is coming up: When your policy is set to renew, it’s a great time to review it.

Instead of hastily signing on the dotted line to renew your coverage, take time to read the fine print to see if coverage changed in price, if you’ve made any of the above changes to your home, or if there are any new discounts available.

For example, some insurance agencies will offer discounts for installing a security system to your home, and we all want the best price for our insurance.

Are you shopping for home insurance?

If you’re looking to purchase insurance for a new home, or simply looking for a change in policies, contact us to learn about your options! We’re an independent agency and we offer some of the best prices for home insurance in the area.

Phagan Insurance Agency Blog

Save Money on Your Insurance

When Should I Review My Home Insurance Coverage?

The most important times to review coverage

Are you shopping for home insurance?