Feds urge states to ban texting and talking on the roads

Tuesday, the National Transportation Safety Board (NTSB) announced that in their opinion texting, emailing or chatting while driving is simply too dangerous to be allowed anywhere in the United States. They are urging all states to impose a total ban except for emergincies. Presently, 35 states plus the District of Columbia ban texting while driving, and thirty states ban all cellphone use for beginning drivers. Enforcement is sketchy and no states ban the use of hands-free devices for all drivers. The NTSB says they are seeing increasing texting, cellphone calls and other distractions by drivers in accidents involving all kinds of transportation. It is common for law enforcement officers to immediately request the preservation of cell phone and texting records when an accident investigation begins. While no states ban hands-free use, the NTSB's recommendation that hands-free use of cell phones be banned, too, will carry much weight with federal regulators, Congress and state law makers.

Auto Insurance Basics

States have laws requiring drivers to carry auto insurance, sometimes referred to as financial responsibility laws. There are a number of ways a driver can show his ability to pay for injuries and damages. By a wide margin, auto insurance is the most common form of financial responsibility compliances and is the most frequently purchased form of insurance.

The two basic components of auto insurance coverage are liability and physical damage coverages. Liability coverage will pay for your negligence resulting in bodily injury and or property damage. Claims for bodily injury could include claims for medical expenses, lost wages, consequential damages including pain and suffering. Property damage coverage pays for the damage you may do to the property of others. Liability coverage includes the cost of defending yourself against liability claims. A companion coverage that is of great value is uninsured motorist coverage. This coverage protects you if you are injured by an uninsured driver.

Physical damage coverage can provide collision and or comprehensive coverage. Collision coverage provides payment for damage to your automobile as the result of a collision with an object. Comprehensive coverage pays for the damage to your auto by causes other than collision. Collision and comprehensive coverages are optional and not required by law. If you have a lien on the automobile, the lender will require you carry these coverages.

Rental Car Coverage

The Holiday Season brings on a lot of travel.  People are either taking advantage of time off to go on vacation or they are traveling to see loved ones in other areas of the country.  Either way they often rent a vehicle during the Holiday Season so we thought it would be a good idea to post our thoughts on whether to buy or not buy rental car insurance.  

The first question we get from customers asking about rental cars is "does my insurance cover a rental car that I rent?"  Our answer is always a "gray" answer because it just depends on the coverage they selected on their personal insurance policy, what state they will be traveling in and what rental car company they are using.  Because of this "gray" response we always recommend at least take out Collision Damage Waiver from rental car companies.  Here are four reasons why this is always a safe option:

1.  Chance of claims is higher when traveling:  In our opinion the chance of a claim when you are driving around an unfamiliar city are much higher then when you are around your hometown.  You are not often sure of where you are going so you may spend more time looking at road signsor GPS devices instead of focusing on other vehicles.  

 

2. Claims paid out by your own policy can cause your rates to increase:  As mentioned in item 1, the chance of a claim is higher when in unfamiliar areas and if you were to have a claim and did not buy the Collision Damage Waiver than the payment of the claim would come from your personal auto policy.  This could cause your rates to increase.  If, however, you had purchased the Collision Damage Waiver from the rental car company the damages to the rental car would be paid by the rental car company and not your personal auto policy.  This would help preserve your claims history.

3.  Your auto insurance deductible would apply:  If you have a claim and need to go under your own insurance, often your auto policy deductible would apply.  If, however you take out the Collision Damage Waiver there would be no deductible.

 

4.  Dealing with out of state accidents is difficult:  If you were to cause an accident while on vacation you would have to work with the rental car company on getting their car fixed by your insurance company (again, assuming you didn't purchase the Collision Damage Waiver).  You also run the risk of them automatically charging the damages to your credit card which some rental car contracts let them do.  If you did have the Collision Damage Waiver, however, you would just simply turn the car over to the rental car company and they would then deal with all the repairs and not bother you with getting payment for the damages.

It is because of these four points that in Fey Insurance Service's opinion it is always good to purchase the Collision Damage Waiver from the rental car companies.  If anything it gives you peace of mind during your Holiday travels.

Receiving motorcycle insurance extreme

Receiving motorcycle insurance should be on the extreme thought. This is like a feeling associated with protection not simply for you personally also for your vehicle. This will be your shielding measure for almost any losses or damages which could incur down the road. Yet any time having insurance, it is crucial for you to assess cycle insurance to ensure you to definitely select the ideal organization and also make the most through your money. It will be a good not practical take action to invest over precisely what is required for your motorbikes. Listed below are easy nevertheless efficient tips on what for you to assess cycle insurance.

1. Certainly is a confident onlooker. You have to thoroughly know and also comprehend each and every detail. Many insurers would seem to get excellent presents in reality you are really paying excessively. Avoid being in no time. It's a excellent behavior to check each and every information on this insurance you happen to be availing for your cycle. You possibly can assess cycle insurance simply by checking online. You possibly can take down a fairly easy take note to generate your look for much easier and much more things to consider. It's wise likewise for you to individually come with an visit along with your insurance organisation to be able to increase all of your uncertainties and also concerns.

2. Avoid being confused simply by cheap rates. Even though it might be superior to get minimal quality insurance however additionally it is just as important to make certain that the business comes with a excellent insurance policy coverage for your item.

3. When producing several updates on your motorbikes, it is crucial for you to assess cycle insurance plan. A number of insurance organisation provides little or no boost by any means on the amount of your insurance even with adjustment. It's best to deal with this problem prior to generating any kind of alterations on your motorbikes.

4. If you are not so familiar with precisely how insurance works, it's best to find the assistance of a broker. There're the top those who can provides you with the most suitable advice on which kind of insurance you need to be having for your item.

5. Search for a good insurer that has superior insurance policy coverage. It is incontestable that will ride on motorbikes is actually much more at risk from risk that will another auto kind. It will be ideal if you take complete insurance. Notify every thing for a insurance organisation. Tend not to cover specifics, since it will support your business figure out which kind of insurance is best for you personally.

Much like other auto kind, it is necessary for you to assess cycle insurance. Even though for most, it will likely be an additional expense however having a good insurance plan perform support a lot since many of us don't have any command associated with what is going to take place down the road.

Extremely important motorbike insurance

Motorbikes are the most famous automobiles currently as more and more people on the youthful creation usually are exhibiting wonderful desire for these kinds of automobiles. These kinds of fabulous automobiles are recognized for their particular very exclusive functions. These kinds of exclusive functions include their particular speed in addition to less expensive fuel intake. These kinds of functions get manufactured these kind of bikes most liked one of the folks as the two of these help to make these kind of bikes very affordable automobiles. However, these kind of bikes have any bad functions as well. One of them bad functions would be the greater danger issue. 

These kinds of greater danger aspects help to make the local administration of all of the says in addition to international locations place a lot more emphasis on the safety precautions related to these kind of bikes. Every one of the provinces on the Us also carry almost all preventive actions to provide every one of the users regarding bikes an incredibly at ease in addition to safe and sound experience on the road. One such calculates offers this kind of bikes extremely important motorbike insurance. These kinds of bikes coverage are available with all the current key insurance carriers in the United States. These kinds of coverage are manufactured important for all you riders with regards to personal security and safety. Good position principles on the highways, every single motorbike operator need to bring his motorbike insurance coverage along with your ex when he is on the road.

Currently with all the benefits in addition to progress regarding World-wide-web similar purposes, it offers turn into much easier for your motorbike owners for getting info on the actual less expensive in addition to very affordable motorbike coverage. Most of the key in addition to productive organizations in the united states regarding The united states are present on the internet. You will discover these businesses easily on the internet. You will discover the best plan for an individual by investigating the actual motorbike coverage readily available using these organizations.

In case essential, you may also obtain motorbike insurance quotes coming from these kind of on the net organizations. Considering that these kind of quotations spot readily available on the internet certainly immediately, you'll find out and about one of the most very affordable insurance coverage in your case according to your personal financial disadvantages. These kinds of motorbike insurance quotes are useful that you should make a decision which company as well as which insurance coverage to look to your own motorbike. Being a make a difference regarding fact, these kind of motorbike insurance quotes are useful to make a decision the financial demands as in addition to when you wish.

What to do Following a Car Accident

Car accidents are always a scary thing, even low impact accidents. Sometimes it can be difficult to stay focused on what you need to do right after an accident occurs, especially if you are injured. Obviously the most important thing to do after an accident is to move yourself and if possible the vehicles out of harm's way. Once you have done that make sure to exchange names and contact information. This is key. Now a days the police tell you to just give them the contact information and then wait for the police report to get the other party's information. This approach can causes a major delay for you and the other parties involved. Police reports, depending on the location of the accident, can take up to 10 days. That means that you will have zero information on the other party until that time. If you were not at fault in the accident it is going to be their insurance that takes care of you and your damages. Their insurance company won't be able to get a hold of you for up to 10 days because they won't know how to contact you until they get your information from the police report. If, however, you had exchanged information at the scene of the accident then you or your insurance agent would be able to call the other party and give them your information which would greatly expedite the whole process. So, even if the police officer tells you not to worry about the other parties information be sure to try and get at least a name and phone number.

Mind the GAP

Every time you step off the Tube in London's Underground you hear a women's voice in her perfect British accent reminding you to "Mind the gap". It is a good thing too. At some stops on the Underground there is a pretty big gap waiting for you as you exit and if you got caught in one of those monsters you could be in some trouble. The same is true for the gap that occurs in leases and loans on cars. Normally over time a vehicle's value depreciates faster than the loan or lease can be paid off. This is commonly referred to as being "upside down" on your loan or lease. If during this "upside down" period you total a vehicle in an accident there is going to be a gap between what the insurance company will pay you (actual cash value of the car) and what you still owe on your loan or lease. The good news though is there is insurance that covers this gap and it is appropriately named GAP insurance.

GAP insurance coverage helps pay for the difference between actual cash value of the car and what is owed on the loan or lease. One thing to keep in mind though, GAP insurance from personal auto insurance companies does not cover the cost of warranties or other add on charges that might have been included in the loan or lease.

So for an example, you totaled your vehicle and the insurance company is going to value your car at $5000 but your loan was still $7000. Let’s also say that of the $7000, $500 of it is because of the warranty that you had purchased. Therefore, the insurance company (if GAP insurance was on your policy) would give you $6500 ($7000 due on the loan minus the $500 warranty cost) instead of $5000.

How to find a very good low cost insurance

Every person wants to know how to find a very good low-cost insurance carriers on the net. Along with the expense of almost everything heading progressively upwards although the incomes stay at standstill, we should cut costs in which we can. The best low-cost insurance providers are only low-cost in cost, devoid of decreasing services. Believe it or not, you possibly can receive the finest insurance policies on the net for a low-cost cost. This is because insurance carriers usually are experiencing this pinch the maximum amount of while everyone else is actually and therefore are finding this tough for you to be competitive in today’s world. Insurance carriers applied to make use of their particular name in addition to client devotion so as to offer insurance policies with higher rates. Car or truck insurance providers knew any time this came time and energy to renew your own insurance policies, you'd possibly simply renew your own policy as an alternative to search for the more affordable policy. Prior to the world wide web time, this savings for you was not worthy of the time and effort regarding searching. Currently, nonetheless, you may get evaluation rates on the net in a few minutes.
The item required these some time, however if the large name insurance carriers found them selves sacrificing consumers right in addition to left, they'd into the future aboard and provides their particular insurance policies with marked down rates on the net. Whom into their right brain could take a large insurance providers term for it actually the top, the least expensive along with the best insurance company to handle when it is so readily accessible away the important points on the net. You will find evaluation rates with regard to all kinds of insurance policies on the net. While many people have found car insurance on the net, sometimes they neglect the belief that they don't really need to follow a similar house or life insurance coverage just because they've experienced this for a long time. You can not simply cut costs in house in addition to term life insurance guidelines on the net, you may get greater, more affordable guidelines on the net.

Obtaining proper insurance policy car drivers

You could have obtained a brand new number of trolley wheels, and after this, comes the actual insurance policies. You aren't officially allowed to drive an automobile without having insurance policies. In reality, there are lots of dealerships that won't enable you to keep the actual great deal without having obtaining proper insurance policies. However, you will you locate inexpensive insurance policies pertaining to car individuals? The simplest and most useful way is to apply the net. The web can be rich in equipment which will help you discover an incredible insurance policies fee. You can find actually sites that could assess several firms for you immediately.
You can even acquire inexpensive insurance policies pertaining to car individuals by, being a excellent motorist. Most insurance companies present discount rates to help excellent individuals. This means different things to help distinct firms. Nevertheless usually, a car insurance carrier will certainly check the driving record to the past 3 years. If you have any kind of mishaps, as well as should you have any kind of visitors violations the insurance policies fee goes upward You will get inexpensive insurance policies pertaining to car individuals by becoming secure. It's also advisable to always be conscience involving the kind of car that you're purchasing, For anyone who is purchasing a rapid sports car, the insurance policies will be higher and then in case you get a secure, and trusted car. This is also true along with alterations. Never change an individual car if you would like keep your insurance policies small. Insurance agencies view alterations as liabilities and can increase the insurance policies as a result of all of them.

Auto cheap insurance quotes not tricky nowadays

Car auto cheap insurance quotes usually are not tricky to find nowadays; the truth is, today over provide, it's significantly simple to receive cheap insurance quotes by just opening the net. Basically, you'll be able to practically attain numerous online rates within the similar time frame it used to consider many people to be able to contact five companies. It is because you don't need to commit long periods of time ready the turn to discuss with the agent; you only filling up a simple style having a number of facts, and yes it sets the quote onto anyone. Of course, even though an auto insurance coverage quote can be cheap does not make it the top for you. A lot of companies nowadays provide insurance coverage from surprisingly low price ranges, nonetheless they are simply just not necessarily trustworthy sufficient to create it worth it. On the other hand, it definitely is very good to pay for since lower a cost as it can be which has a respected company, and so here are a few guidelines to assist you to achieve this. First of all, look for virtually every lower gas mileage special discounts a certain company delivers. As an illustration, if you just plan on generating from time to time, your vehicle insurance company will determine that you will be from fewer dangers to get within the accident mainly because you may be on the road fewer.
In addition, try and follow third party motor insurance any time at all doable. This really is very much more cost-effective when compared with acquiring whole coverage.
In addition, include since couple of people on your own insurance policy as it can be. After you try this, you additionally stay away from some cash having motor insurance.
Obtain the anti thieves program for your auto. This specific decreases the chances of your car currently being stolen, and as a consequence, in the insurance provider acquiring to shell out money to be able to compensate anyone for your auto. With luck ,, a number of as well as many of these guidelines will let you attain automobile auto cheap insurance quotes that will in shape your allowance. Motor insurance has not got to be able to hurt your pocket book and yes it will not likely once you stick to most of these easy but incredibly efficient guidelines. With luck , the following pointers will let you find a very good cheap vehicle insurance obtainable, and also guide you then have a very long and also rewarding relationship with your insurance provider.

Find low cost insurance for women

Find low cost insurance for women, you'll find a couple key troubles you'll want to take into account. First, you have to know that in case ones broker or perhaps ones insurance provider recommended ones approach, you're possibly overpaying through as much as 50% and up. Next, in terms of discovering low cost car insurance, information is usually power. Usually, the particular insurance provider gets the information. Along with many research on the aspect, you will have the information and also the power to save considerable volumes on the insurance charges. Any time searching for low cost insurance for women, you should inquire most of the proper queries. Create ones queries prior to make contact with a real estate agent so that you are generally structured and will protect each of the queries at length.
1. Acquire every low cost to help you are generally permitted. Consider the low cost to be a advanced decrease on the insurance in the event a number of safe practices, life-style, or perhaps fiscal disorders exist about anyone or perhaps the particular vehicle(s) covered by ones insurance provider.
a couple of. Review in addition to adjust deductibles for detailed in addition to impact. Be sure you grasp both these products. Any time searching for low cost insurance for women, you can find that your particular decisions about detailed in addition to impact may revolve mostly about the get older in addition to problem of one's vehicle(s).
3. Review in addition to adjust ones actual damage liability protection. Any time figuring out correct protection, there may be a recognized system that will require that you know ones internet worth.
5. Review in addition to adjust property destruction liability protection. Below yet again, the determination of one's correct protection calls for that you know ones internet worth.
5. Review, adjust, cancel, or perhaps fall uninsured/underinsured driver protection. Your state might or perhaps may well not demand most of these protection. In case you have to have this particular protection, you'll want to take steps to minimize ones premiums.
6. Review, adjust, cancel, or perhaps fall no fault/personal damage safety. Based on the condition during which your house is, there are various of possibilities.
7. Review, increase, cancel, or perhaps fall medical coverage/medical payments. Word of advice... in case you have good medical/hospitalization insurance, you do not need this particular protection
8. Eliminate unintentional death/dismemberment protection, decrease in view protection, in addition to any "loss of" protection. Any time trying to find low cost insurance for women, evaluate additional options forever insurance or perhaps other designs of area of expertise protection.
9. Cancel or perhaps fall the particular "extras" in addition to do away with comprehensive/collision protection on the previous cars. For instance products including roadside assistance in addition to hire auto payment.

When paying for New Jersey auto insurance

When paying for New Jersey auto insurance there are many selections you'll have to produce. You need to realize types of auto Insurance policy coverage you need as well as simply how much you possibly can pay for to cover. New Jersey auto insurance could have no difficulty meeting your requirements however you, by yourself, have to know what you require in insurance plan for Nj-new jersey operating before you decide to purchase. Just understand that there are many options for New jersey insurance plan readily available considering the distinct businesses offering insurance plan.
When paying for New Jersey auto insurance, there are many points the particular agent is sure legally to tell an individual. For New Jersey auto insurance you've got a few insurance policy coverage possibilities called "Insurance Scenarios". The vehicle broker that allows you to recognize how every single option may impact your own policy as well as that which you purchase positive aspects if however you produce an crash. He/She must let you know that you can cancel your car or truck insurance plan at any time you desire, for example, if you find better auto insurance having an additional auto insurance corporation.

You can also modify the particular insurance as well as policy limitations for your car or truck at any time, even though you aren't all around your car or truck insurance plan rebirth. In the event you choose selections after you purchase Nj-new jersey auto insurance then it might settle before you go in order to cancel there may be any refund should you cancel beginning. Innovative Jersey auto insurance businesses should present you with rear the particular refund in 30 days on the day an individual cancel your own New jersey auto insurance. New Jersey auto insurance is portioned straight into distinct insurance coverage, however that will depend on the maintain which is to be released to you personally or maybe other people. The first is injury protection - that protects an individual or maybe other people dependent upon who's in the car or truck during the time of any sort of accident, and may pay out the particular health care insurance policy coverage in spite of which often new driver reaches mistake. Next there is legal responsibility auto insurance that will cover problems sustained when you find yourself responsible within the crash. And also this covers just about any legitimate assist that you're going to need to have should you be becoming sued. In legal responsibility auto insurance, additionally, there are 2 types of insurance policy coverage - actual damage as well as house destruction. Nearly all New Jersey auto insurance businesses take the same insurance policies. Most of these insurance coverage purchase anyone who is injure or maybe expire while a result of the particular crash an individual triggered. You may think the expense of auto insurance is higher after you take away coverage in New Jersey, however it's almost nothing when compared to what any sort of accident would likely cost should you didn't include just about any NJ insurance plan in your car or truck

Fact vs. Fiction: Uncovering auto insurance myths

Like a teenager eager to try a new video game, playing before reading the rules, many drivers buy insurance without really understanding what they’re buying.
In the rush to feel “covered,” they can skip the details. That can lead to frustration.
Following are five insurance myths heard by some of the more than 13,000 claims people at Progressive, one of the country’s largest auto insurance companies:

Myth: I bought “full coverage” so everything’s paid for.
Reality: There is no such thing as “full coverage.” In most states, only liability insurance is mandatory. There are a lot of other coverage options out there, so select what you need and can afford based on your personal situation.

Myth: I need three estimates before my wrecked vehicle can be repaired.
Reality: Not necessarily. Very few insurers actually require this, although some might. If you decide to use a shop that’s in an insurance company’s “network” of pre-approved shops you may just have to get an estimate from that shop.

Myth: My insurance premium always increases if I’m involved in an accident.
Reality: It depends. Your rate can increase, decrease or stay the same. The information about your accident is combined with other information about you, your car and your driving history to determine your rate.

Myth: If I lend my car to someone and he/she crashes it, I’m covered.
Reality: Not so fast. If you or your friend don’t have optional physical damage coverages, damage to your vehicle generally won’t be covered.

Myth: If I buy a new car, my auto insurance company automatically knows; and my new car is covered.
Reality: No. Most insurance companies require that you notify them or your agent within a specified number of days. Generally, you have 30 days to add the new vehicle to your policy.

To learn more, contact a friendly Fey Insurance representative.

Deductible Basics

When a covered insurance claim happens the insured, in many cases, will be responsible for the first few dollars of most losses. The amount they are responsible for is called the deductible. More often than not, deductibles are only associated with property damage of the insured’s own possessions whether that is a vehicle that was damaged or damage to their contents, their buildings or even their loss of income. On some occasions you may see deductibles on liability claims but not in many.

Deductibles can come in many different forms on insurance policies. You can have a given dollar amount, say $500. Often times you see this type of deductible on home insurance or business property insurance. Some deductibles might be a percent of the loss like 1% or 10%. Sometimes you will see this type of deductible on a home or business but many times it will be associated specifically with earthquake coverage. Deductibles can be vanishing deductibles. As the insured racks up years of no losses, their deductible gradually drops each year until eventual it is $0.

In most cases the deductible is per claim. This means that each time you have a claim you pay a deductible. It isn’t like your typical health insurance policy where you have an out of pocket deductible for the year and once you meet that limit you are done with the deductible. In property and casualty, if you have a $500 flat per claim deductible you will pay $500 each time you have a claim no matter how many you have in a given year.

Deductibles can be a helpful cost savings tool. They can be raised to help drop premiums but the insured needs to understand that by raising deductibles they have taken on a bit more of the burden of possible claims.

It is important for insureds to understand what their deductible is so that they can be prepared to financially meet its requirement if a claim were to happen. I mention this more in connection with a percentage deductible. The insured should know if the percent is on the cost of the claim or on the coverage limit. For example, if a person had a $200,000 house and an insurance policy with a 5% deductible (on the coverage limit) it would be best to know that you have a $10,000 deductible before you have a claim. Someone that doesn’t know their policy might think that it is 5% per the cost of the claim.

Deductibles are just one of many facets to an insurance policy. Be sure to familiarize yourself with your policy and policy coverages and consult your independent insurance when ever you have any questions.

Why "Spending 15 Minutes or Less" Can Hurt You

Buying insurance is one of the most important decisions you’ll make. Who you buy it from can be the difference between devastation and recovery when disaster strikes.

We are grateful that you chose to buy through an independent insurance agent.

Today’s TV and media ads bombard you with the message that purchasing insurance is as simple as grocery shopping. In truth, it’s not. You can’t pick a product off the shelf and be on your way.

Finding the right coverage requires due diligence on your part and ours, something you can’t get from a 15-minute phone call, a celebrity or even a talking lizard.

 

Why do people prefer independent agents?

Consumers feel the difference. Almost 60 percent of consumers who purchased insurance through a direct channel 10 or more years ago reported switching back to an independent agent because they wanted more value, according to a 2013 study conducted by InsightExpress, an independent marketing research firm.

Consumers switched back to an independent agent because they wanted one point of contact to handle their insurance questions and needs. They wanted guidance from an experienced insurance professional, the study said.

That’s what we do. Independent insurance agents represent multiple insurance companies. We are familiar with underwriting styles and have researched the nuances of numerous policies.

 

Risk management is key

We also provide advice on the ins and outs of risk management, meaning we explain coverage options and how having or not having that coverage could impact your entire situation.

Our philosophy is to look at the big picture. We believe your insurance program is there to protect all of your assets. What you choose for one type of coverage, such as auto insurance, can have an impact on all of your assets.

Some competitors will lure you with a lower rate on a single type of insurance, but less coverage. You may think you got a deal, but you could get burned later.

When our clients ask for a quote, we don’t just do the comparison shopping and run the numbers – we strive to find the best coverage and rates for your particular needs.

 

How things go wrong

Independent agents offer a complete package, whereas some competitors are interested in only one piece. For example, they might sell auto insurance and tell you that insurance shouldn’t be “bundled.” Looking at it piecemeal instead of as an entire solution is where we’ve seen clients get hurt.

Imagine you purchased lesser coverage through a company that said they’ll take 15 minutes to save you money on auto insurance. When you signed up, the representative didn’t ask about the value of your home or tell you that your level of coverage should involve looking at the value of your assets. Later, you cause a major car accident. Your auto insurer writes a check that doesn’t cover the victim's expenses, and with that, the insurer’s obligation to you is over. But this doesn’t cover a hurt passenger’s expenses, so he sues you for $1 million. If your home is your biggest asset, you face losing it and your savings.

 

When you work with an independent agent

In that scenario, we could have helped and suggested umbrella coverage. But with a telephone or online quote, this may not have been an option. Our agency is here for you throughout the life of your policy. We answer questions, handle issues and adjust your coverage as needed. To file a claim, you call us, not an 800 number. We advise you and walk you through the process. Personal attention is part of the package.

Our competitors are at a disadvantage because they sell for a single insurance company and are limited to the options offered by their employer. Bottom line, our competitors represent their insurance company. As independent insurance agents, we represent you. 

Insurance Score, What is it?

When it comes to figuring out what premium an insurance company is going to charge a person to insure them, there are a lot of factors. On a homeowner it depends on the year the house was built, where the home is located, what kind of construction is the house, etc. On auto insurance it was based on age of the driver, type of vehicle, how much you drive the car, what type of limits and deductibles you have, etc.

A number of years ago a new factor was added to this list for both home and auto insurance called insurance score. An insurance score helps insurance companies determine the future likelihood of auto or home claims. The insurance score takes into account two major categories. The first is your past claims history, meaning what claims have been reported and paid by the home and/or auto insurance company.

The second is your financial behaviors. By financial behaviors they mean things like your current outstanding debt, how much credit history you have, how often you pay or not pay bills on time, have you ever foreclosed or declared bankruptcy, how often do you apply for credit card or other loans. It does not factor in, however, your age, race, income level, marital status, etc.

So what does this insurance score do to your insurance premiums? Well, if you have a good insurance score, companies give you a break on pricing because they feel you are less likely to have insurance claims and therefore should be paying less in insurance premiums. If you have a poor insurance score, then they may charge debits to your insurance premium which can then cause your premium to increase. As mentioned earlier, insurance companies feel that if your insurance score is poor then you are more likely to have claims and therefore you should pay a higher premium.

This is great news for those with good insurance scores but bad news for those with poor scores. So, it is important to stay on top of your financial behaviors, not only so you can get a good credit score and better loan rates but also so that you can have a good insurance score and have better insurance premiums. It is important to make sure you monitor your bill paying, keep outstanding debt to a reasonable level and just have a good overall credit history.

One final thought, Fey Insurance Services is not a big fan of insurance scores but it is something that all insurance companies are using. The main reason we are not a big fan of insurance score is that there is no way to inform a customer exactly why their score is what it is. Your credit score is a big factor in determining the insurance score, and it is private information. We prefer methods all parties totally understand. However, as mentioned previously, all insurance companies are filed with the states to be able to use these scores so it is out of our control. We can simply keep you educated on how it can affect you and make you aware of the factor.

Rental Car Insurance: Buy or Not Buy

During the summer our agency receives a lot of phone calls from clients who are sitting at the airport getting ready to sign up for a rental car. The rental car employee has just asked them if they wish to purchase the “extra” insurance from the rental car company, and they are not certain if their personal auto insurance protects them on rental cars or not. So they pull out the cell phone and call Fey Insurance Services. Our answer is always this, “It is not a black or white answer.

Unfortunately it is a gray answer so we recommend you purchase at least the “Collision Damage Waiver”. Normally the client is somewhat confused on what the “gray” answer is but the beach is calling and they want to get on their way. So, I thought with this blog article I would hit on two reasons why it is a “gray” answer when it comes to purchasing insurance from the rental car company on a rental car.

The first reason is contract language. Two contracts would be involved if you did not purchase rental car insurance from the rental car company. The contracts would be the one between you and the rental car company (the one you sign in order to rent the car) and the contract between you and your personal auto insurance company. Each of these contracts can be different depending on which rental car company you are using, which state you are in and which personal auto insurance company you have. Because of this there are all kinds of possible gaps in insurance coverage. An example gap is “loss of use”. A number of rental car companies will charge you for the loss of use of the car while it is in the repair shop after you caused an accident that damaged the vehicle. This means that if it takes a week for the car to be repaired they will charge you a week of rental. Some insurance companies do pay this extra cost and some don’t. Gaps like this can be avoided by just spending the extra money on “Collision Damage Waiver”.

A second reason we feel it is a gray topic and you should just purchase the extra coverage is that often times you drop off a car after your trip and no one from the rental car company is present to help you check for damages to the car. We have had a couple of cases where our clients received a letter from the rental car company seeking money for a ding or scratch. They swear they never caused any damage to the car. Unfortunately, when they turned the car in there was no one to sign off that the car was returned undamaged. So, when another vacationer in an unfamiliar car at an unfamiliar airport (who is late for their flight) pulls in next to you to drop off their rental car, and they bump into the car you had just dropped off twenty minutes ago, you have no way of proving you where no longer responsible for the vehicle when the damage occurred.

So we recommend you play it safe next time you rent a car and purchase at least the “Collision Damage Waiver”.

Insurance Tips Before and After A Disaster

“If only I knew.” Four words spoken after disasters by people who’ve learned they don’t have the insurance coverage they thought they had. In our agency, we never want you to be in that situation, so here are some tips to help.

Advice you need before a disaster

You might have purchased your insurance a long time ago. Do you remember the coverage choices you made and your deductibles, endorsements and exclusions? These details can make or break a family after a disaster, so take a few minutes to call us to see if your coverage fits your current needs. Be sure to report life changes and significant purchases or home improvements.

Do you know how much coverage you have if your home or possessions are damaged by rain, hail, lightning or tornadoes? If your roof was damaged in a storm, would it be repaired or replaced? How soon after a storm do you need to report a loss? Are you aware that most renters and homeowners policies don’t cover floods or earthquakes? Do you have loss-of-use coverage in case you have to vacate your home temporarily? If a tree falls on your car, do you have the right auto coverage?

If you don’t know the answers, it’s important to call us to learn what your policy specifies.  Another helpful tip is to create a home inventory every few years. It sounds like a headache, but anyone who has filed a claim will vouch for its value, and technology has made the process quick and easy. Videotape or photograph your possessions room by room. Get close-ups of valuable items, and keep receipts. Create an inventory by downloading an app or using a website like knowyourstuff.org, recommended by the Ohio Committee for Severe Weather Awareness (OCSWA). Store this inventory on the web or somewhere outside your home to keep it protected.

Insurance tips for after a disaster

Inspect your property and vehicles. Make a list of what is damaged and how. Take photos for documentation. And report your loss in a timely manner. Also take steps to protect possessions from further damage after the disaster.

If you need to move out of your residence temporarily, provide us with a phone number where we can call you. Find out the monetary limit your loss-of-use insurance covers before you choose a hotel. When you file a claim, back it up with written estimates and your home inventory information.  Prepare now, and your family will be grateful if there ever is a disaster.

Avoiding Insurance Mistakes: Five Tips

Here is a great video from the Insurance Information Institute about five mistakes to avoid with your personal insurance policies. Our Oxford and Cincinnati, OH insurance offices strongly agree with these items.

Insurance and Your College Kids

Out in front of our Oxford, OH insurance office, it is a busy place. Today 16,000+ Miami University students return to begin a new school year. This annual pilgrimage brings up potential insurance issues pertaining to what parent's personal insurance policies cover or don't cover. Three areas that parents should be aware of:

(1) If your son or daughter is going away to school over 100 miles from home without a car, most companies will rate your Personal Auto Policy for them being married which is a nice discount. Let us know if this discount might apply to your family and your Personal Auto Policy.
(2) Most insurance companies will extend personal property (contents) coverage and personal liability for your son or daughter while they are in college and living in a dormitory. Some, but not all, will also extend coverage if they are living in off campus facilities such as an apartment or other student housing. Please check with us to see if your insurance company provides this extended protection. If not, we should be able to write a Tenant/Homeowner for your student to cover both their personal property and personal liability while they are an undergraduate. If they are in graduate school, they should definitely have their own Tenant/Homeowner Policy.
(3) If you or your children are using a rental truck to take their things back to college, U-Haul, Penske, Hertz and other will offer you coverage on the vehicle (collision damage waiver) and extended liability. While these may be covered by your Personal Auto Policy, not all companies extend the protection, so check with us before renting the vehicle. Whether or not they are covered will depend on the length and Gross Vehicle Weight of the vehicle and several other factors. We may be suggesting you buy the extra protection from the rental company before your trip.