From the monthly archives: September 2011

We are pleased to present below all posts archived in 'September 2011'. If you still can't find what you are looking for, try using the search box.

Why Are Insurance Rates So High For Teens?

Written by on 9/29/2011 6:10 PM . It has 0 Comments.

As insurance agents, this is probably one of the most common questions that we get from parents who are adding their teen to their car insurance. We understand this frustration and after you read the reasons below, you will most likely respond with “But, my teen is a good driver…” That may be true and you’ve probably spent countless hours helping your teen become a safe driver. If you have, then you should be glad that the chances of your teen getting into an accident will be less than most other teens on the road. 

However, it takes thousands of hours behind the wheel to get the experience necessary to avoid accidents and become safe drivers. Here’s a statistic to prove this point:

 The crash rate for 16 year olds is nearly 3 times higher than 19 year olds and nearly 6 times higher than drivers 20 to 24 years old.

Unfortunately, you are going to have to pay high rates for your teen to drive. But, you can take steps to avoid paying the highest rates and keep them down. ...

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Are Your Children's School Valuables Protected?

Written by on 9/13/2011 8:19 PM . It has 0 Comments.

The days when children just took a pen, ruler and protractor in a pencil case, plus maybe some lunch money, to school are long gone. These days, they carry a small fortune in electronic equipment, wear more expensive clothes and use designer-label sportswear for gym sessions. That means they're more vulnerable to loss and you're more likely to be out of pocket when things get lost, damaged or stolen. So, does your insurance cover you for this risk? And what about equipment that is loaned to them? The answer is normally "Yes" – your homeowners insurance policy usually protects you or a "resident relative" against covered losses to personal property, whether it's owned or just being used by the insured, inside or outside the home. In most cases, a student is still regarded as a "resident relative" even if they're away at college, provided your home is where they normally live outside of term time. However, an important word of warning. As we mentioned on Page 1, if you have a deductible on your policy, ...

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9 Tips For Understanding Deductibles

Written by on 9/6/2011 7:47 PM . It has 0 Comments.

How much you pay for insurance protection usually depends on the amount you agree you'd fork out of your own pocket during a claim before the insurance company kicks in. This is your deductible. Its main attraction is that the higher the deductible, the lower the sum you pay for your insurance (the premium). Simple? Well, here are 9 things to know: You pay a deductible only when you're making a claim. It may apply to each claim you make (as with car insurance) or a whole year (e.g. most medical policies). There may be different levels within the same policy (e.g. one for a home and another for its contents). Some insurers waive deductibles in certain circumstances (e.g. preventive healthcare). You must choose from available options (e.g. $500, $1,000).  Your mortgage lender may stipulate the maximum deductible, so you don’t end up with one you can't pay. The Government stipulates the lowest health insurance deductible you can have to qualify for a tax-sheltered ...

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