Your Insurance Financial Plan

There are many aspects to successful financial plans.  Most include a family budget, emergency savings, retirement savings, and…insurance!

So today, let's review the important parts of your insurance financial plan.

Protect Your Stuff - 

This is what we think of first when it comes to insurance.  Fixing your car after an accident and replacing your belongings after a fire.  When you review your financial plan, you want to make sure that all of your valuable assets are protected.  Cars, homes, high priced jewelry or artwork, boats, motorcycles, ATV's, etc.  Protect it all and make sure that the deductible is reasonable and that you have full replacement cost coverage.  (We can explain all the details.)  

Protect Your Money - 

Liability is a misunderstood coverage, but it's extremely important.  When you are held responsible for an accident, your assets and money are at risk!  What if your teenager caused an accident and your were sued?  What if you caused a major accident and didn't have enough liability coverage?  Good insurance can make sure this doesn't happen!  We look at how much you have to protect (total assets) and create a plan to cover it all.

Protect Your Family - 

You can protect all of your belongings, but the ultimate way to protect your family is with good life and disability insurance.  If something happens to you, you don't have to worry about your family being protected.  You can plan to pay off debt, pay for college, or anything else that is important to you.  

All of this might seem like a lot for think about, but it doesn't have to be.  With a great insurance agent, you can meet once a year and trust that all of these things are taken care of.  Why not take a few minutes to schedule an insurance financial planning review with one of our agents?  Call us today at 508-347-9343!  

How To Choose An Auto Insurance Deductible

When quoting auto insurance for clients, we frequently discuss how to choose the right deductible.  I thought I’d take a few minutes to share this information here on our website too!

A deductible is the amount you pay out of pocket when you have a claim.  If you have a $500 collision deductible and have an accident, then you would pay $500 towards repairing your vehicle and insurance would cover the rest. 

The deductible you choose directly relates to the amount of money you spend on premiums each month.  The higher the deductible ($250, $500, $1000), the lower your monthly cost. 

So how do you choose?  Cheaper price or lower out of pocket expense?

First, look at your emergency savings.  Do you have enough cash available to cover a higher deductible if you had to pay it?  If the answer is no, then you’re better off paying a little extra each month.

Compare the cost savings.  When we run a quote, we can show you several different options.  Ask your agent to run the premium based on several different deductibles so you can see the actual dollar cost savings.

You can always change your mind.  If you’re short on cash now, but know you could afford more out of pocket next year, you’re always able to change.  Keep your deductible in a comfortable range and you’ll always be well protected! 

Call us for more information and a personalized quote! 

Life Insurance Is Affordable

September is Life Insurance Awareness Month. You’ll probably see TV commercials and magazine articles talking about why this coverage is so important all month long. And you probably already know it’s important. But that doesn’t mean that you’ve got your policy set up yet!

The Life Foundation says that only 62% of people who believe they need life insurance, actually have it. And even those that have it only carry enough to replace their income for 3.6 years. If you have young children to support, that is simply not enough time! And if you're skipping life coverage all together, then you are putting your family at risk.

So why do people wait too long to purchase life insurance? Well, the Life Foundation also says that 86% of Americans say they haven't purchased it because it's "too expensive,” yet overestimate the cost by more than 2X!

Life Insurance rates are based on a number of factors, including age, health conditions, and smoking status. By not smoking and purchasing when you're younger, you can save substantial money. In fact, many term life policies are less than $30 per month!

Here’s what we recommend...call the office and set up an appointment with Dennis McCurdy, our life insurance specialist. Bring information on your annual income, as well as any debts (like your mortgage). We’ll give an accurate picture of how much coverage you need as well as different ways to make it affordable. Don’t wait another minute! Call us today to set up an appointment.

"Back To School" Insurance

August is over, and the kids are going back to school! What does that have to do with insurance? Here are a few things to keep in mind.

Good Grades - Do you have a teenage driver in the house (or one on the way)? Many policies allow discounts for students with good grades. Don't forget to talk to your kids about the importance of keeping those grades up! These discounts can apply to college students too.

Driver Training - There are different discounts available for Drivers Ed classes. We

can review all the options and let you know which discounts will impact you the most.

Moving To The Dorm - Is your college student living in the dorm this semester? Your Homeowners Insurance may cover their belongings without additional coverage being needed. This is called Property Off Premises coverage.

Remember, any claims would be subject to your deductible which is usually higher on home policies! Let us review your policy to check for the specific amounts of coverage included.

Moving To An Apartment - Let's say your college student has graduated from the

dorms and moved on to an apartment. If your child is financially independent, your Homeowners Insurance would not cover their belongings and they would need their own Renters Insurance policy.

Renters Insurance is very affordable and covers all of the contents of the property. It also provides liability insurance if someone were injured in the property or if the student caused a fire, etc. By making sure they are properly insured, you are also protecting yourself.

We work hard to make sure all of our clients have the right coverage at all times. The fastest and easiest way to make sure your student is receiving all the discounts they qualify for and that their belongings are covered at college is to schedule a review! Call to review your policy and situation and we'll make sure all of your questions are answered.

How Long Does An Accident Stay On Your Record?

I hear questions like this a lot.  Tickets and accidents can cause spikes in your car insurance rates and no one wants that.  

The good news is that they eventually drop off and your rate goes back down.  The bad news is that it typically takes 3 years for that to happen.

If you get a ticket, you may be able to avoid having a surcharge on your policy by taking a defensive driving course and getting the ticket removed.  This will depend on your past record and what the court offers, but it is a good option!

If your rates do go up, make sure you are taking advantage of all other discounts to offset the increase.  Bring all of your insurance to one company so you take advantage of multi-policy discounts.  Raise your deductible for a while so you pay more out of pocket in an accident, but a lower monthly rate.  

Have questions?  We're always available to help!  Just give us a call and schedule a free review to see what is available and how we can keep your rates manageable even after an accident.

Car Insurance For Teenagers

Do you have a teenage driver (or one on the way)?  Back to school time is a great opportunity to think about car insurance savings!  

Having a teenage driver can be stressful.  You worry, first and foremost, about their safety and then about the costs.  And there are a lot of costs!  Things like purchasing an additional vehicle, getting licensed, and paying a little more for insurance. 

Fortunately, you still have options.

First you want to think about the vehicle your teen will be driving.  Premiums are higher on vehicles with comprehensive and collision coverage, which pays to fix your vehicle after an accident.  When you have a car that has only liability insurance (which pays only for damage your driver does to someone else’s car), you pay a lot less.

If you are purchasing a car for your teen and need to watch your budget, consider buying an older reliable model for cash that will not require comprehensive and collision coverage.  We can help you weigh the cost and the risk to see if it is a good option for you.  

You also want to take advantage of all available discounts.  These vary by policy but typically include a discount for driver's education and one for having good grades.  With school about to start, it's a great time to setup an incentive plan with your teenager to make sure they keep those grades up and your premiums low!  

Still have questions?  Call us to review your current policy and look for ways to help you manage the cost of having a teenage driver.

August Home Maintenance Tasks

Every month, we share easy tasks you can do to keep your home in tip-top shape all year long.  In August, we still have warm temperatures and a few hot summer days left to enjoy.  So what can you do this month for your home?

Get Rid Of Allergens - 

Many people suffer from allergies due to dust mites.  But there are ways to rid your home of the dust without spending all day cleaning.  

Look for where dust lurks.  Use a damp cloth to clean all window blinds and fan blades once a month. If you have carpet, make it a priority to vacuum on a regular basis.  These things will get rid of dust and prevent allergies.

Clean The Grill - 

After a summer of heavy use, make sure your grill is still in good shape.  Heat it up for 10-15 minutes to burn off any residue and then scrub the grill with a wire brush.  Start looking for a grill cover to keep it protected through the winter.

Plan A Fun Labor Day Weekend - 

Okay this isn't a home maintenance item, but it's still fun!  Labor Day weekend is only a few weeks away.  Why not schedule a cookout or party with family and friends?  

Save on Home Insurance -  

If we don't currently insure your home, call us for a quote today. We'll look for every possible discount without sacrificing important coverage. Great insurance coverage is the best protection you can have!