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How Do I Choose the Right Home Insurance Deductible?

When selecting your deductible, be sure to know what you’re signing yourself up to. Homeowners know that their insurance policy is designed to protect their house and belongings throughout perils and lengthy lawsuits. However, when deciding on a policy, it’s important to understand what the deductible means for you policy. What is a deductible? Within your homeowners' insurance is a deductible. This is the total amount “deducted” from an insured loss. When filing a claim to repair your home or replace your personal belongings, the deductible would come out of your pocket. There are typically two choices of deductible types: Dollar-amount: For example, $500 “dollar deductible”. If your claim was for $10,000, your insurance company would take care of $9,500 while you paid the remaining $500. Percentage based: This is based on a percentage of your home’s insured value. If your home is insured for $100,000 and your insurance policy has a 2 percent deductible, $2,000 ... Read more

Confusing Insurance Terms – Translated into English!

Get to know your insurance policy by understanding the terms! Fumbled by jargon? Stumped by specifics? Perplexed by policies? You’re not alone! Trying to understand an insurance plan is like reading a technical manual in a foreign language – that’s why insurance agents must be well-trained and knowledgeable! So that you can properly understand potential policies and find the best coverage for you, here’s a breakdown of what insurance terms mean. Open enrollment: This is the period you’re allowed to sign up for next year’s insurance. Most insurance companies allow you to choose your coverage for the next year during a specific amount of time that is “open enrollment” unless you’ve changed jobs or had a qualifying life event! Premium: This is your monthly bill! Therefore, your monthly premium is what you pay for your insurance policy. Deductible: The total amount that you have to pay out-of-pocket before insurance kicks in. If you have ... Read more

Costly Car Insurance Mistakes

Avoid this common and costly car insurance mistakes! While many are content renewing and paying for the same old car insurance policy year after year, this, in itself, can be a costly mistake to make. By not reviewing your auto policy, you are unaware of potential discounts, savings, and coverage gaps. So that you get the best policy for the best deal for you, avoid these car insurance mistakes that can cost! Choosing a deductible that is too low – If your plan has a higher deductible, your monthly premiums are typically lower. However, your out-of-pocket expenses will be higher should you get in an accident! Not taking advantage of discounts – Many discounts are available! These can include: Good Driving Record discount Good Student Driver discount Taking a defensive driving course Telling your insurer about your car’s safety features Having a low mileage per year Bundling car with home or renters’ insurance! Renewing an outdated insurance plan – Switching ... Read more

How Renter’s Insurance Can Save You Thousands

Renter's Insurance and Thefts If you have ever had anything stolen you know what a hassle it can be. The issues can be even worse if your house or apartment was broken into and you are missing many different items. Along with figuring out exactly what was stolen, you also have to figure out how the thief got into your house. Luckily, investing in the right renter’s insurance policy can help to ensure that you are not left paying for the stolen items out of your own pocket. While your landlord will have an insurance policy for your home, it will only provide coverage for the structure of the home, not for your belongings that you keep in your house. The only way to protect your personal belongings is to invest in a separate renter’s insurance policy. A renter’s insurance policy will provide liability coverage if anyone is injured while visiting ... Read more