How can I lower my auto insurance premium?

When you receive a quote for an auto insurance policy, the amount that you are quoted is not some random number picked out of thin air. Insurance companies rely upon all types of data and statistics to categorize you into a specific risk category. Those who fall into a low risk category receive lower rates than those who are categorized as high-risk drivers.

Some things you can not change, but, there are many things you can do to lower your auto insurance premium. You can not change your age or you can not change your gender. However, you can improve your driving habits, purchase a specific type of car, qualify for discounts and sometimes reduce the amount of coverage.

Your driving record plays perhaps the biggest factor in determining your auto insurance premium. If you are a safe driver meaning you rarely get into accidents or get tickets for traffic violations, you will tend to fall into the low-risk category. If you get a DUI and file multiple claims over a short period of time, your premium will likely go up.

If you want to pay less for auto insurance, don’t buy the fanciest sports car on the lot. Owning an expensive car that costs a lot to repair or is likely to be the target of a car thief, will lead to higher auto insurance rates. Instead, choose a modest vehicle, preferably one that is a few years old, and you might see lower premiums.

Auto insurance companies often offer discounts for drivers who carry more than one policy or fit into a certain group. You may get a safe driver discount, a loyalty discount, or any other number of different discounts that will lower your premium.

As a final option, you may want to reduce he amount of coverage you have on your car. If you are not required to carry collision on your car, you have the choice of dropping hat coverage. You can also raise your deductible to lower your premium. While this option is sometimes a smart way to save some money on your premium, it may not always be. Whenever you decrease your coverage, you assume more risk.

Do I need to buy collision insurance for a rental car if I have auto insurance?

When you are renting a car, you may have a few options available for the vehicle. Depending on your current insurance policy for your own vehicle, it may be possible to apply your coverage to the rental car in El Paso, TX.

Identify Your coverage

If you plan to apply your current auto insurance policy to your rental vehicle, then you will want to identify the coverage that the company will provide. Just because you have collision insurance for your personal vehicle, it does not mean that you will always have coverage for a rental car.

Read through your policy and find out what kind of coverage the company will provide for a rental vehicle. In most cases, the coverage will not be as comprehensive as the policy for your car, so it may be necessary to add additional protection to your plan.

Buying Collision Coverage

Some rental car companies may require that you maintain some collision insurance for the rental vehicle. Depending on the company, you may have options to purchase additional protection from the company or you may want to add to your policy to ensure that you are complying with the company’s requirements.

When you need to buy additional coverage, determine if you want to buy it separately or if you want to add to your current plan. Some insurers may allow you to make adjustments to your policy so that you are complying with any set requirements.

Renting a car is not always an easy process, especially if you are not sure about the coverage that you have available. In general, you will want to identify the coverage that you have before adding to the policy to avoid unnecessary additions. Contact us to talk to an agent to learn more.

How can I reduce my homeowners insurance premium?

If you’re a homeowner, you probably realize that there’s no getting away from homeowners insurance. If you have a mortgage, your lender requires it, if your house is paid for, you need it to protect your investment. Although you can’t avoid the cost altogether, there are some things you can do to reduce your homeowners insurance premium.

The most important thing you can do to control the cost of your home insurance policy is to review it regularly, perhaps once a year. Talk to your agent and make sure you’re getting all of the discounts you qualify for, and make sure that your policy amount still makes sense based on your home’s current value or cost of replacement. Also check to make sure that you still need floaters you may have on jewelry or artwork and make sure that your deductible isn’t too low (or too high).

One thing to discuss during your insurance review is any upgrades you’ve made to your home. Upgrading the electrical system or plumbing, or adding a security system, can reduce your homeowners insurance premium. Bundling your insurance, meaning getting car insurance, home insurance and/or life insurance from the same carrier can usually save you money and the review is a good time to talk about it. You should also ask about your credit rating, and take steps to repair it if it is adversely affecting your premium.

Communication with an agent is at the heart of reducing your premium for homeowners insurance. If you want to speak to an independent agent about your home insurance, call us today. You can even use our website to compare homeowners insurance quotes, so that you can be absolutely sure that you’re getting the best deal available.

Are transportable items such as mobile phones, laptops, pedal bikes covered under home insurance?

Mobile devices can be a concern, especially if you need to take them back and forth for your work. Depending on your home insurance policy, you may be covered if you lose your mobile devices or transportable items.

What is Covered

Many insurers offer coverage for personal belongings. The coverage can apply to a variety of items, including a bike, cell phone or a laptop computer. Even if you take the items to work, school or any other location, you may be covered against the theft or loss of that item.

Personal belongings may be covered on your policy, but the amount of coverage that is available can have some basic limitations. For example, your insurer may set a price limit on how much you can claim or you may only claim a percentage of your policy. Every insurer and policy has different details, so read the paperwork to determine how much you can claim.

Additional Protection

Even though many home insurance policies will offer basic protection for your personal belongings, it is usually appropriate to purchase additional protection if any of your devices or transportable items are very expensive.

Limits that your insurer may set on your coverage can prevent you from making a claim. Furthermore, you may not be given enough protection to pay for an expensive bike, laptop or mobile device. If you are concerned that your mobile items may be lost or stolen, then consider adding more protection for the specific item.

Purchasing a policy for every device and item that you take out of the house is not necessary because many insurers offer basic protection for your personal belongings. Contact us to speak to an agent for more information about your policy options today.