Home/Auto Insurance... never hurts to shop around!

[framing fowl]

Just a friendly reminder to always check around and get quotes when it is time for your home/auto insurance renewal!

We had a great rate on our home insurance but just received a letter from them stating that our premium was going up by 1/3 due to winter storm damages in Kentucky. I called our agent very upset and asked that they could find us a better deal. They were able to switch us to AAA which comes with AAA insurance for our vehicles for $110 less per year than our other policy, higher coverages, and $500 lower deductible! Auto is about the same as our previous policy.

Anyway, it doesn't take too long to make a couple of calls and see what's out there... it can add up!

 

[miss_thenorth]

We shop around for home insurance pretty much every year. sice we only have plpd on our vehicles, their rates don't change much. If we can find a better deal on home owners insurance, we usually switch our vehiclles too, since they usually give deasl for that.

Shopping around does work!

 

[gettinaclue]

Just a word to the wise...

As someone who has worked in the insurance industry for 10 years, may I please recommend???

DON'T EVER ...

1. Ask your agent for "full coverage". There is no such thing. "Full Coverage" doesn't fully cover and it means different things to different people. What does this term mean to you? Now ask your agent what that term means to them.

2. Get the state required minimum for your insurance. These vary from state to state and are often only enough to cover little better than a fender bender - slim to no coverage if you cause injuries. Increasing your coverage isn't that expensive and is WISE.

3. ASSUME. Don't assume that your insurance will cover this loss or that. Don't assume that because you brother, sister, mother, neighbor's policy covers something that yours will too. Insurance companies are different, and different policies can be written with in those companies. Do not assume!

4. Buy the cheapest policy because you never use your insurance anyway. Buying insurance is like buying tin for a new roof. You buy the cheapest tin - then you have thin tin protecting everything you have and the people you love. Cheap policies are like thin tin...thin coverage. Great for fair weather, but not much else.

5. Purchase without knowing what you're buying. This one sounds pretty basic - but most people only have the slightest incling what they are buying. Would you buy a gun without knowing something about it? A new car? A new animal for your farm? KNOW what you buy.

6. Be afraid to ask questions. I constantly have customers call me and say "I have kind of a stupid question..." If my customers don't call, then I don't have a job. For goodness sake's people, call your agent! They need job's too.


ALWAYS

1. Watch your credit!!!! Credit doesn't affect insurance premiums in all states, but the worse your credit, the worse your premium in the states that it does.

2. Stay off the accelorator. Don't get that ticket. They are expensive up front, on insurance and it costs a day of work to go to court if you try to fight it... and speeding uses more gas LOL. Other moving violations are the same - be a cautious, smart, courteous driver. Be Safe.

3. READ! Read your declarations page!!! Review the updates you get from your company after you move, add a car, remove a car etc. Sometime due to computer or human error, that change you thought was done, WAS NOT DONE. If you made a change and didn't get an update from the company - call your agent. You could still be paying insurance on the car you sold.

4. READ SOME MORE. Don't just read the front few pages and put it away. It's that big thick booklet that lets you know what is and is not covered. Yes, watching paint dry is more exciting than reading that thing. Many would rather have a root canal or SEVER A LIMB WITH A SPOON than to read it- but you NEED to read it. Don't forget to read the inserts. They update you on changes in your coverage. IE, if your policy previously covered your Wassitcallit for the replacement amount - it may now just cover for the depreciated amount or not at all. Questions? Call your agent.

I really could go on and on here.

Don't ever feel silly or uncomforable calling your company or your agent. There is no stupid or silly question. There is only the knucklehead that didn't ask them.

This is the money you work hard for - know what you are spending it on.

Remember that insurance companies will only pay out up to the limits on the policy - YOU ARE LIABLE FOR ANYTHING OVER THAT AMOUNT. If you are covered up to 10,000, what happens when you hit a car and cause 30,000 worth of damage? That extra money comes out of your pocket...so it's bye-bye new barn, new house, home repairs, retirement fund, college fund, FOOD BUDGET etc...especially if you get sued.

Okay, I'm off my soap box now.

 

[framing fowl]

Good info Gettinaclue! It's always good to get it "from the horse's mouth" so to speak!

I like to err on the side to too much insurance because when we'd been married 4 months, we lost everything in an apartment fire and no renters insurance... that 40 bucks sure would have saved us a lot of head and heartache...

 

[Wildsky]

I hate insurance companies, of all kinds. They are all out to make a profit and that profit comes out of YOUR pocket.

I buy the minumum the state requires for my car, I'm certainly not going to pay for the insurance top dog or agents even to take a fancy vacation.

Insurance is getting out of hand, they demand more in premiums, pay less on claims, pay less to doctors if its medical insurance, and in the end its the consumer who gets the short stick.

 

[gettinaclue]

Good info Gettinaclue! It's always good to get it "from the horse's mouth" so to speak!

I like to err on the side to too much insurance because when we'd been married 4 months, we lost everything in an apartment fire and no renters insurance... that 40 bucks sure would have saved us a lot of head and heartache...

Thanks FF!

I really try to look out for my clients and friends.

I have so much insurance it would probably make most people gag...but after all that I have seen, I gladly spend the money and sleep better at night for spending it on insurance.

 

[Up-the-Creek]

I have been with the same insurance company since I was 19 yrs old. I have learned the longer you are with a company, the better deals you get. I have shopped around to compare rates, but nobody could touch the coverage for the price we are paying. I have all four of our vehicles and our homeowners together and for this we get deep discounts from them,plus accident free and multi-car discounts. I have ABOVE state minium requirent liability vehicle coverage due to the fact if you go out and hit someone in a newer car,..there isnt enough coverage for it. Then you are liable for the rest. I know some people think this is fooey, but I have seen a few people get their butts sued off over this. It doesn't cost that much more to be safe than sorry, you never know when you may have a fender bender with someone.