Because you should know

 

 How is the best way to save money on auto insurance?   Keep your driving record clean! Violations cause your Insurance rates to increase. , if you own a house attempt to insure both your home and auto's with only company - you'll get a discount if you do.

  •  Does insurance cost the same with all companies?   No!  The basic cost is the nearly the same with all companies but each company adds its own overhead, losses, and profit to the base rate to determine its final cost.

  •  What can be done about the increasing cost of medical insurance?   Unfortunately medical insurance has seen the highest rate increases of all of the types of insurance but yet medical care is something which we want the best of when needed. The best way is to self-insure a portion of the cost by selecting a higher deductible and make sure your protection is provided by a major medical plan - one that pays its benefits both in and out of the hospital.

  •  How can I determine how to get the best buy on Life Insurance?   First, determine what you want the insurance for: debt cancellation, education, final expenses, saving, retirement.. One policy can not do all things, therefore select a policy which can be changed as needs change, one such as Universal Life policy.

  •  What should I be concerned about when buying homeowners insurance?   First, understand your policy, have the agent explain it so that you know what is and most important, is not covered. Make sure that your policy limit is equal to what the replacement cost of your house is. If you were to suffer a loss you could be penalized for not carrying the correct amount of insurance and its tough to replace a $150,000 home with a $100,000 check!

  •  When is the best time to change insurance companies?   Anytime!  Insurance companies cannot keep your unused premium, they can only charge premium up until the day the coverage ends with them. The only exception to this is on commercial insurance which can be subject to audit. The insurance company can bill you for additional premium if the final audit shows that during the time of coverage you owed additional premium based on the audit.

  •  Do the big well know companies always have the best rates?   No! Large companies spend a lot on advertising and compensation for their agents and employees and as a result many have higher operating costs. Smaller regional companies can have better rates due to their lower overhead costs. Satisfied customers are their best advertisers and lower rates bring customers!.

  •  Why should I buy insurance from an independent agent?   An independent agent works for you, he is able to design your insurance program by selecting companies which best provide the coverage which you need. If an agent represents only one company (captive agents such as State Farm, Allstate, Progressive, Farmers Insurance) they can only provide your protection from one company, the one he works for, which usually does not have the best of rates on every type of insurance.

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    What is UNINSURED MOTORIST BODILY INJURY (UM), Underinsured Motorist Bodily Injury (UNDUM) & Underinsured Motorist Property Damage (UNPD)

    UNINSURED MOTORIST BODILY INJURY (UM): This coverage covers you, the insured members of your household and your passengers for bodily injuries or death caused by an at-fault uninsured or hit-and-run driver. If you are involved in an accident where the other driver is at fault but has no insurance, your policy will cover your medical expenses, up to the limit for this coverage on your policy. Persons covered under this coverage are the policyholder, other drivers covered by the policy and passengers. How much protection does this coverage provide? If the other driver involved in an accident is uninsured, this coverage pays up to the limit you purchase. The coverage limits refer to the maximum amount that will be paid per person, per incident, respectively.

    UNDERINSURED MOTORIST BODILY INJURY (UNDUM): This coverage covers you, the insured members of your household and your passengers for injuries or death caused by the negligence of a person with insufficient insurance. If you have an accident with a person whose coverage cannot meet your damages, your policy will meet the difference-up to the limit of liability listed on your policy. Persons covered under this coverage are the policyholder, other drivers covered by the policy and passengers. If the other driver involved in an accident is underinsured, this coverage typically pays any difference between what the other driver's insurance covers and what your bodily injury coverage will pay. The coverage limits refer to the maximum amount that will be paid per person, per incident, respectively. If the limits you purchase are lower than an accident's costs, you'll be responsible for paying the amounts over your limits, unless you're covered by health insurance. Both UM and UNDUM coverage can be combined or sold separately depending on the state and the insurance carrier.

    UNINSURED PROPERTY DAMAGE (UMPD): Covers your auto when property damage is sustained by an insured and the negligent operator does not possess insurance. If you don't have Collision coverage, Uninsured Motorist Property Damage coverage pays up to a certain amount for repairs to the insured car. In some state if you have Collision coverage, Uninsured Motorist Property Damage coverage only pays your Collision deductible. This coverage does not replace Collision coverage. Uninsured Motorist Property Damage alone is not enough to cover all potential car repair/replacement costs, and only applies if you are involved in an accident caused by a driver without insurance coverage.

    UNDERINSURED MOTORIST PROPERTY DAMAGE (UNDPD): Covers you when property damage is sustained by an insured and the negligent operator possesses insurance, but the limits of liability carried by the negligent driver are not sufficient to cover the damages. If you don't have Collision coverage, Underinsured Motorist Property Damage coverage pays up to a certain amount for repairs to the insured car (some states have limits at $3500, some are lower and some are higher) If you have Collision coverage, Underinsured Motorist Property Damage coverage only pays your Collision deductible (in some states). This coverage does not replace Collision coverage. Underinsured Motorist Property Damage alone is not enough to cover all potential car repair/replacement costs, and only applies if you are involved in an accident caused by a driver without enough liability insurance coverage to cover the damage to your automobile. Both UMPD and UNDPD coverage can be combined or sold separately depending on the state and insurance carrier.

    Have another question?  Contact us here  misdillon@qwestoffice.net