Top 5 reasons to choose independent insurance agency through a broker

by Administrator11. September 2013 18:42

Contrary to popular belief, choosing a reputable insurance agency does matter. Buying insurance isn’t like going to the grocery store and picking up bread and butter. Insurance is a safety net for the most valuable things in your life: your family, your home, and your vehicle.

The purpose of this post is to relay that there is a difference in where you buy your protection from. First, we’ll break down the three different ways to purchase insurance:

      1.      Captive Agents – licensed to sell insurance plans from only one company.

      2.      Telephone-based Agents – licensed to sell insurance plans from one company, but only over the telephone.

      3.      Independent Agents – licensed to sell and represent an average of eight insurance companies, and can therefore select a plan with the best combination of price, service and coverage.

Top 5 reasons to choose an independent insurance agency through a broker

      1.      Independent insurance agents are not bound to one company. If your insurance needs change, you can stick with the same company because they are more flexible and can meet your new set of needs.

      2.      Independent insurance agents are like one-stop shops, offering many plans through several companies.

      3.      Independent insurance agents offer more personalized service. If you have ever had to submit a claim through an agency that was not independent, you probably know why personalized service is important.

      4.      Independent insurance agents will treat you treat you like a person, not a number. The cut-throat business of selling insurance gets to agents who work for large corporations. Independent insurance agencies are not under the same quota.

      5.      Independent insurance agencies will review your coverage to make sure we’re serving you to the best of our ability.

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Top 5 Things You Should Know About Homeowner Insurance

by Administrator1. August 2013 13:59

Top 5 Things You Should Know About Homeowner’s Insurance

Does your homeowner’s insurance actually have you covered? If disaster were to strike, would you have to worry about an obscene deductible or no coverage at all for certain assets? Would you have to worry about only receiving a fraction of what your home and possessions are worth? This list goes over 5 things you can do to make sure you’re covered – for your property and possessions – fully.

      1.     Buy the right insurance for your home, property and possessions.

This should be dependent on several factors. Start by making a list of what you have and what needs covered. Look at your homeowner’s insurance coverage in four areas: your home, belongings, your liability to other people if something were to happen while they were present, and the cost of living if you needed to leave your home. If something happens and you need to use your homeowner’s insurance, you need to be able to rebuild your house and replace all of your possessions. Not only that, but you need enough liability coverage to protect you in case you get sued.

      2.     Know that replacement value insurance is different and may not be included in your policy. Also know that it should be considered…

If something were to happen and you had to utilize your homeowner’s insurance, unless you have replacement value insurance coverage, your insurance company will take the “fair market value” or “cash value” of all of your possessions and then come to a conclusion on how much they owe you, as if it were a garage sale. Replacement value insurance, on the other hand, actually takes the retail price of the item and calculates how much it would cost you to go out and buy everything again. Look into extended or guaranteed-replacement-value coverage when shopping around or updating an existing policy.

      3.     Take an extensive inventory of everything with a video camera or camera phone (if possible). 

The absolute best way to prove that you own all of the things you own is by actually keeping a video of them. When you file a claim, you will 1) need to prove that you owned the items and 2) verify that they are worth what you’re saying they’re worth. So, if you have a video camera or a smartphone – if you don’t have one of those, borrow one from a friend or rent one –go through your home (and any other structures) with it and shoot video of everything. Walk through each room one by one and sweep over everything, getting it all on tape, and then make copies. Be sure to remember the attic, basement, closets, etc. It’s really important to email the copies of the video to yourself, or put them on a thumb drive (or both) and keep them somewhere other than your house, for obvious reasons. Keep it at a friend’s house or at work in your desk/locker.

      4.     Get a policy with floaters. 

The run of the mill homeowner’s insurance policies will have a cap on the amount you can collect on the big-ticket items such as furs, jewelry, computer equipment, etc. This will usually result in the policy covering only a fraction of its actual cost. A lot of people own items that are worth over $1000 … and if you do, you should get add-ons to your policy, called “floaters” or “endorsements,” for each of the big ticket items. The good thing about these items if that they can also be reimbursed if you simply lose the item. If you ever purchase anything of high value, you should sale the receipt/bill of sale and fax a copy of it to your insurance agent and then keep the original yourself (with your copy of the inventory). If you have an antique item, get it appraised. Again, save a copy of the appraisal and send it to your agent. This will automatically save you time and stress of having to prove that you owned the item in the first place.

5.     Consider an umbrella policy. 

An umbrella policy adds liability insurance, which will cover you in case anyone gets hurt in your home or on your property at the scene of the disaster. It can also cover you if someone is hurt due to the direct action of a family member. Liability suits tops out at $300,000 but people will start out at $1 million.

Factor that Affect the Price of a Car Insurance Policy

by Administrator24. July 2013 15:49

Factors that Affect the Price of a Car Insurance Policy

Auto insurance policies aren’t based on what will earn insurance companies the most profit. Quite the contrary, they’re actually based on a complex formula derived from risk factors. The risk factors include age, number of moving vehicle tickets, gender, marital status, location, how often you drive your vehicle, and even your education level.

Age and Automobile Insurance

Younger drivers pay more for an auto insurance policy than older drivers because they aren’t as experienced. Decisions based on the age factor are derived from statistics that say younger people get into auto accidents more frequently due to recklessness, drinking and non-observance. Car crashes are the #1 factor of death in the US, and teen drivers are three times more likely (than those who are 20 or older) to be involved in a fatal car crash.

Gender and Automobile Insurance

Since car insurance policies are based on what the stats say; gender is also a contributing factor. The statistics say that men are more likely to be aggressive behind the wheel, and to exhibit riskier driving behaviors, irregardless of how careful a particular person is or what his driving record might be. The good news is that the insurance rates for men tend to be about the same to that of women over the age of 30, across the board.

Education Level and Automobile Insurance

Insurance agencies will also look at your education level (and some, at your career) to determine rates. This is because, again, the statistics point that better-educated drivers pose less of a threat on the road.

Other Factors

Many other factors can affect your insurance rate, such as accident history, location, moving vehicle tickets, and even marital status.

What it comes down to is that while many of the determining factors are out of your control, other factors can help you positively, such as the type of car you drive, your driving record, and the number of people on your policy. It’s recommended to keep these factors in mind when evaluating how to get the best price on your car insurance policy.

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What’s the right car insurance for me?

by Administrator11. January 2013 13:09

 

Having car insurance isn’t just smart – in Ohio it’s the law. But what’s the right policy for you? We’re here to help. Here are the three basic types of coverage, and why you may need each one.

Liability: This coverage is required by Ohio law, and it simply means that if an accident is your fault, your insurance policy will cover the damages caused, including bodily injury and property damages. In Ohio, the minimum liability coverage required is bodily injury coverage of $12,500 per person injured in any one accident, and $25,000 for all persons injured in any one accident. The required minimum for property damage liability coverage is $7,500 for damage or destruction of property in any one accident.

Collision: This coverage simply means that the insurance company will pay for repairs performed after an accident.

Comprehensive: This coverage pays for damages from theft, vandalism, and often many other situations such as storm damage, floods, or fires.

Other important options
Auto loan lenders typically also have minimum insurance requirements written into your car loan. The amount of driving you do and the purposes for that driving (commuting versus commercial use for example) also affect how much coverage you should carry. Contact a Dabbelt Insurance agent today, and we can guide you to the ideal and most affordable coverage for you.  

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