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Frequently Asked
Questions
- How is the
best way to save money on auto insurance?
First Keep your driving record clean!
Violations cause your insurance rates to
increase. Second, 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) 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.
Have
another Question?
Contact us here.
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