2022 | Boizelle Insurance Partnership - Page 8

Is My Insurance Cheaper If I Own the Car?

You’ve spent years paying your off your car and the day has finally come when you can officially say you own the car! This is a great milestone that you can take a lot of pride in!

Now is the perfect opportunity to re-evaluate your auto insurance. You may be asking yourself a few questions related to your auto insurance.

• Are there any optional coverages I currently have that I could potentially remove from my policy now that I own the car?
• What insurance coverages should remain on my policy?
• Is there anything I can do to reduce my auto insurance premium?

While paying off your car is a remarkable achievement, quickly moving to remove coverages from your auto insurance is not something that we necessarily recommend. After all, if you do not have enough insurance coverage, you may be stuck with the remaining balance of the bill in the event of an auto accident. Your policy will only cover the limits that are listed on your declarations page (the first page of your policy).

Before removing any insurance from your current policy, we recommend you review your policy with one of our experienced agents who can answer any and all questions you may have related to your auto insurance coverage. One question you may want to ask is, “What are my state’s legal limits for auto insurance?” The last thing you want to have happen is be deemed responsible for an auto accident that is serious enough where it exhausts all of your limits and requires even more money to cover things like medical expenses for injured parties. That money would need to come out of your own pocket. To avoid this, make sure you have the proper insurance coverages listed on your policy so that you will be covered in the event of a catastrophic accident.

Whenever you have an auto accident, before your insurance kicks in, you will first be required to pay your insurance deductible.

There are two types of coverage when it comes to auto insurance: comprehensive and collision. While both of these coverages are not required by law, if you are financing or leasing your vehicle, your lender may require you to carry these coverages on your auto insurance policy. When determining the right course of action for you, consider these questions:

• How much money do you have on hand?
• How much is your car worth?
• How much does full coverage for your vehicle cost?

Comprehensive coverage refers to any damage caused to your vehicle by anything other than a collision. This includes the following:

• Fire and explosions
• Vandalism
• Damage related to theft i.e. if someone breaks into your car
• Wind, hail, tornadoes, floods, earthquakes, & hurricanes
• Falling objects i.e. tree limbs
• Cracks in your windshield
• Damage caused by hitting a deer

It’s important to remember to call us once your car is fully paid off. We’ll need to remove the lienholder from your auto policy. If this step is not completed, in the event of an accident, your insurance carrier is obligated to issue a check to the name listed on the policy. When this information is inaccurate, expect a delay because we’ll need to stop the check and it will take some time to issue another one.

5 Reasons to Review Your Insurance Policies Once a Year

When was the last time you reviewed your insurance policies? Circumstances in life change all the time. And although we may not be able to know what the future holds for us with absolute certainty, we can make smart decisions that will put us in the best possible position financially. Here are five reasons why you should review your insurance policies at least once a year.

1. Manage Your Personal Life Changes

Getting married

Getting divorced

Your child is leaving home

Starting a new job

Starting a new business

Starting a family

Having your elderly parents move into your home with you

Purchase or receive an expensive gift

Death in your immediate family

Paying off your mortgage

2. Ensure Appropriate Coverage

As changes in your life occur, so too should your insurance coverage. Review your insurance policies at least once a year, so that if you have gaps in certain areas of your coverage, those areas can be addressed by one of our insurance professionals. We can help you add any supplemental insurance coverages or additional policies.

Sometimes, state laws can change. That means that minimum required insurance coverages can change. To make sure you always have enough coverage, call us so we can keep you in the clear and give you the peace of mind you deserve.

3. You Buy Or Sell Property Or Possessions

Let’s say you just sold your home and are either downsizing or renting. Naturally, the won’t need as much insurance coverage as you had previously. The same thing goes for when you sell a valuable possession like a piece of jewelry or maybe a valuable piece of art.

4. Remodeling Your Home Or Adding On

Whenever you make an addition to your home, naturally, that is going to increase the value of your home. Therefore, you should be ready to update your insurance coverage to make sure these new additions are properly covered.

5. Take Advantage Of Discounts

If you choose to bundle both your home and auto insurance, you may be eligible for discounts. There are a number of different ways to save money on your insurance. Everything from adding a newer vehicle with more advanced safety features, to providing proof that you are driving much less nowadays, we may be able to help you save considerable amounts on your policies.

Don’t Make These Mistakes When You’re Driving on the Highway

The same conveniences we enjoy as drivers in the United States have also resulted in some bad habits over time. When drivers commit these bad habits, they are putting both themselves and other drivers on the road at risk of harm. Here are the biggest mistakes drivers make when driving on the highway.

1. Driving slowly in the left lane.

Generally speaking, the far left lane is typically reserved for vehicles traveling at higher speeds. The unwritten rule here is that unless you are passing or moving faster than the flow of traffic, you should keep your vehicle to the right. Using the left lane when you are driving slowly or not keeping up with traffic may result in traffic buildups. When other drivers see this, they may feel encouraged to make more aggressive moves on the road.

2. Driving when you’re tired.

When we are tired, our ability to focus is greatly affected. Also, our reaction time may be compromised as well. These are dangerous realities that make our roads much more dangerous for ourselves and other drivers on the road. If you feel tired, pull over to the side of the road or take the nearest exit to a rest stop. Make sure you rest before continuing your journey.

3. Not taking breaks on long trips.

Have you ever been driving along for long stretches at a time with nothing but the open road in front of you? During these moments, we may feel more compelled to speed. After all, there aren’t any police around. Why shouldn’t we do everything we can to get to our destination faster? The answer is simple. We could lost control of our vehicle. It is also possible to feel fatigue when we have nothing around us to stimulate our minds. Unfortunately, long stretches of road have the ability to have that effect on us. If you know you are about to embark on a long journey, plan rest points ahead of time. Doing so will keep both yourself and other drivers safe.

4. Staying in a truck’s blind spot

Commercial trucks are big vehicles. Because of this, they tend to have large blind spots too. The general rule of thumb is if you cannot see the driver in his side mirror, he can’t see you either. Be cautious when driving near these big commercial vehicles.

5. Speeding

We are all aware of the fact that there are speed limits on roads and highways. They are there for a reason. Exceeding these speeds limits can put you and other drivers in a dangerous situation. Also, nobody likes paying speeding tickets.

6. Relying only on technology and safety systems

Your best defense against getting into a serious accident is you. While cars have become more advanced with technology over the years, you should not solely rely on your car’s technology systems like automatic emergency braking or your blind spot indicator lights to keep you safe. Use your eyes and stay focused behind the wheel. You and your ability to focus are your best defenses against a serious auto accident.

7. Not using your turn signals.

When you use your turn signal, you are alerting other cars around you of your plans to move to different lanes. These turn signal lights are meant to prevent accidents and keep everyone safe.

8. Keeping your brights on.

When driving at night, it makes sense that you would want to use your high-beam lights. After all, they afford you up to 300 more feet to your visibility. However, it is important to remember that as you are going in one direction, other cars are likely coming towards you in the opposite direction. And, these high-beam lights can seriously impair the oncoming driver’s vision, possibly resulting in an accident. It’s okay to use your bright lights, but turn them off once you see a car coming in your direction.

9. Not yielding to oncoming traffic.

You won’t see traffic lights or intersections while you’re driving on the highway. However, you will see cars attempting to merge onto the highway. Oftentimes, these cars are traveling at considerable speeds. It’s important to give them enough time and room to merge safely. Adjust your speed or move over to another lane to make room for these merging vehicles. Doing so may prevent an accident from occurring.

10. Not using your mirrors.

Your side mirrors are meant to give you the ability to see cars next to you and behind you. Always check your mirrors before attempting to switch lanes. And remember, always use your turn signal before making your move.