Auto Insurance Breaks

Personal Auto Insurance underwriters look at a number of factors when deciding who fits into the low-risk category.

They weigh factors such as a policyholder's driving record and claims history. It helps if an insured's record is spotless. That means no accidents, claims, or citations for moving violations. Insurance companies also look at the driver's age (or in some states, the driver's years of experience) and location of their residence.

How a car is used also impacts pricing. A policyholder who takes public transportation to the office and gets behind the wheel only on the weekends typically gets a lower premium than an insured who drives 40 miles to and from work every day.

There are also other underwriting considerations. We would be delighted to discuss them with you, upon your request.

Renters Protection

The couple stood way back watching with horror as the fire consumed their apartment. The horror was compounded by the fact that they had no insurance coverage -- a common oversight among renters. For some reason, many renters don't purchase the Homeowners insurance designed for renters, maybe because "Homeowners" is misleading.

Except for the actual building, renters have the same exposures as home, townhouse, and condominium owners. Their risks include personal property, injured guests, liability for acts on the premises, and additional living expenses when their unit is rendered unlivable. Those are the basic coverages of a Homeowners policy, and the renter's premiums are much less expensive because the building needs no coverage.

Insurance wont make it easier for the couple as they watch the fire, but it sure will help them face the morning after.

Contact our office with questions about renter's insurance, or any other topic.

College Student Coverage

Another summer has rapidly come and is almost gone, and with fall comes the start of another school year. We'd like to address a few school-related issues that frequently come up in conversations.

A common concern for parents with kids away at college is the coverage of the student’s personal property. Any personal property belonging to the student is covered under your homeowner policy, provided the child is under the age of 24 and is a full-time student.

College students going to a school more than 100 miles from home who do not have a car at school also are provided considerable discounts on an auto policy. Please let us know if this situation applies to you.

For students who do have a car at school, it is important to remind them not to allow their friends to drive their car. In the case of an accident while your son or daughters friend is behind the wheel, coverage may not be granted because the named insured did not give permission to the person driving the vehicle.

We'd be glad to respond further to this or any other area in which you have questions.  Please feel free to contact our office at your convenience.

Teen Drivers and Liability Claims

In 2010, a number of insurance industry trade journals reported that former professional wrestler Hulk Hogan sued his insurance agent for failure to advise him of the availability and cost of personal umbrella liability insurance. This resulted from a serious car accident that his son was involved in for which his auto liability limit of $250,000 was not sufficient for injuries to a passenger.

This potentially important coverage supplements your auto and personal liability insurance with limits available for $1 million to $10 million. The cost of this generally begins at $150 per year.

Policyholders with teenage drivers might be especially vulnerable to the effects of a serious accident. They have higher accident frequencies which might result in a costly liability claim.

Contact our office with questions about this topic or any insurance questions you may have.

Call 614-459-6500 and ask for Dan or Ken.