Happy first day of winter!
With cold weather's entrance to our southern states comes an increased incidence of home insurance claims from things like:
If you experience some type of winter damage, take the following immediate steps: According to the Insurance Information Institute, nearly 13% of drivers countrywide are uninsured (12.9% in Georgia and 10.4% in South Carolina).
Many MORE drivers are UNDER-insured, meaning if they're found at fault in an accident, their policies aren't enough to cover accident-related losses. What recourse do you have if your car is hit and the person at fault doesn't have insurance? Did you know hit-and-run accidents - those in which someone causes an accident and then leaves the scene without providing their information - are more common than you might think?
And, Georgia ranks 4th according to Ride Safe Georgia for fatal hit-and-run accidents. So, if you're a victim of a hit-and-run does insurance cover the accident? It may seem logical to remove your RV insurance during off-season times, but there are still risks that your RV could be damaged while not in use.
Here are 6 reasons it's wise to maintain your RV insurance throughout the year: Are you concerned about package theft this holiday season? If so, you're not by yourself. Almost 7 out of 10 homeowners are, according to a recent survey by the Chamberlain Group.
Do you know if your renters or homeowners insurance covers package theft? Generally it does, but coverage is only helpful for purchases that are valued more than your deductible. Most deductibles fall between $500 - $2000, and over half of all packages stolen last year were worth $50 - $200, so filing a claim isn't a viable option or in your best interest. What do you do if your package isn't at your home when it says it was delivered? Throughout my career, I've had more clients than I'd like who declined certain insurance coverage only to then experience some tragedy in which that coverage would have provided much needed protection.
While you don't want to over insure your assets, you DO want to make sure your insurance is adequate. Insurance can be complex and confusing, so do yourself a favor and consult with a local experienced independent insurance agent. So you can avoid thinking: "I wish I'd ...." Don't gamble with your assets. Reach out to me for a comprehensive review to ensure you are adequately covered: 706-726-1446. If you're in an auto accident and you expect yours will be totaled, don't sit around and wait to hear from the adjuster. There are several things you need to do immediately:
Don't wait for disaster to strike. Get an experienced independent insurance agent in your corner now who can guide you expertly through situations like this: 706-726-1446. Do you "bundle" your insurance policies?
Generally, it's advantageous to do this, meaning you combine your insurance coverages with the same insurer. Companies reward you with discounts for using that one insurer to cover multiple policies. The most common combination is to use the same carrier for home and auto insurance. HOWEVER, there are exceptions, and this is another reason to use an experienced independent agent. Independent agents have access to numbers of insurance carriers, meaning they can mix companies to match your specific insurance needs. When would using different companies be better than bundling policies with one insurer? Here are a few examples: In a previous post, I explained why insurance has become so complicated. The key to eliminating these complexities is to engage the services of an experienced independent insurance agent. Here's why:
You're not by yourself if you feel overwhelmed when making decisions about your insurance coverage.
Why is insurance so complicated, and how do you navigate through coverage options to ensure you choose what's best for you? Read on for answers to these important questions. I commonly review policies with limits that are alarmingly low and leave the client much too open to financial liability.
This is one of the common mistakes people make when they self-select insurance coverage online. Here's a prime example: Have you ever let someone borrow your vehicle and then wondered who would be responsible if that person had an at-fault accident while driving it?
What about your child who no longer lives at home? What about your roommate? These are just a few examples each involving different circumstances and which may impact whether they should be listed on your auto insurance policy. Generally speaking: What does the Russian invasion of Ukraine have to do with your auto insurance rates?
Ukraine is a main supplier of neon, and Russia is a key supplier of palladium - both components used in the production of semi-conductors and may directly influence chip shortages. But that's not the only factor causing a rise in auto insurance premiums. Here's a sampling of other direct influences on auto insurance costs: Is it worth it to have a cell phone warranty or insurance?
If you're prone to dropping your phone, losing it, or consider it essential to your work role, this may not even be a question, but rather how to decipher your options. Factors to consider: Yes, anti-theft devices are a smart investment for both your vehicle's safety and potential insurance savings.
Insurance companies acknowledge that these devices significantly lower the chances of a stolen vehicle, which can translate to discounts for policyholders. What are the major types of devices and the discounts they can lead to? Are you among the many side hustlers renting out your backyard and pool (or other property) by the hour?
In addition to bringing in some extra money, it can also create additional liability issues for you. Happy Fall!
Oops, I'm a few days early but Fall IS coming, and did you know there are certain types of insurance claims that are more prevalent during the fall and early winter seasons? How does a home warranty differ from homeowner's insurance, and do you need it?
Most homeowners are required to have homeowner's insurance by their mortgage company, but a home warranty is an option that can be added on to a home policy. It's football season and time to enjoy the cooler temps and social events like tailgating.
If you're taking to the road to your favorite football game, drinking and driving can be one of the most expensive mistakes you can make, not to mention the legal, physical and emotional tolls. Do you know when you get a DUI, when it will show up on your insurance, how much to expect it to go up, and how long before it falls off your motor vehicle record (MVR)? With the rise in vehicle technology, insurers have to consider more complex claims issues, and electric vehicles are a prime area.
Electric vehicle (EV) owners haven't necessarily thought about the risk of using public charging stations. The software in these stations can transfer data in and out. This allows the potential of spreading malware TO an EV from the charging station. Cyber criminals have also been able to hack into electric vehicles, with the major results being data or privacy breaches. However the second most common issue is theft or break-ins from accessing the wireless key fob. Hackers have also been able to access third party applications that control music, door unlocking, and flashing headlights. It's a matter of time before someone takes control over the steering, brakes, and acceleration functions. So who's responsible for cyber risks and hacking? Have you been thinking about buying an electric vehicle (EV)? If so, you've also probably wondered if the insurance for an EV will be more than a comparable gas-powered vehicle.
So how does EV car insurance premiums compare to non-EV insurance premiums? According to a recent comparison study of EV vs. non-EV rates across low to high cost vehicles, on average, EV insurance costs about 25% more than its gas alternative. Why is that? Several reasons - generally: The number of high-tech safety features on new vehicles has mushroomed in the past few years. Here's a partial list:
Do insurers offer discounts for these newer auto safety features? Auto insurers typically give discounts for some safety features but they vary by company and state to state.
Also, some states require insurance carriers to give discounts for certain safety features. It's important to make sure your insurance company has the right model of your vehicle. Providing a vehicle identification number (VIN) assures the accurate information is transmitted to your company. What safety features might qualify for discounts? If you experienced a significant home loss due to a weather disaster as many have in the last several months, how well could you document your property and contents to the insurance company in filing a claim?
The last thing you need is the added stress of trying to list out a detailed inventory after the fact. Before disaster strikes, take these 5 easy steps to create a detailed and comprehensive inventory of your home and possessions: You know the importance of insuring the big-ticket items in your home like jewelry, collectibles, firearms, and art, but what about other things that can add up too?
Here's a quick rundown of high-end household items that might slip your mind when it comes to insurance: |
AuthorDennis Lam Archives
May 2024
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