What coverage limits can I expect in a standard homeowners policy?

When you purchase a standard homeowners policy for your property, you may discover that there are certain coverage limits that may apply to your plan. Although there is some variation between insurance providers and the details of the policy that you purchased can depend on several factors, there are some limits to the coverage that you purchase.

Limits on Expensive Belongings

In many cases, insurance providers will offer a certain amount of coverage for your personal belongings. Most policies will protect against theft, fires and other unexpected disasters that can damage your property.

Although there is usually coverage for your personal belongings, companies may put limits on your coverage for items that are traditionally expensive, such as jewelry or family heirlooms. The limits are designed to protect the company because the items can be very expensive. You may need to purchase additional coverage for certain items.

Limited Coverage for Other Structures

A standard homeowners policy will usually offer some coverage for other structures that are on the property, such as a shed or a detached garage, but the amount of coverage can be limited. You may have a percentage of the policy that will apply to the structures and your yard when the structure is damaged, but it may or may not be enough to pay for all of the repairs. The coverage limits can vary based on the value of your house, so the exact limits will differ between plans.

Insurance for your home will often have set limitations on what is covered and what is not covered. Even when items are covered, the amount of coverage that is available in the policy may not always be appropriate for the item. Contact us to speak to an agent for more details.

How long does a speeding ticket affect my auto insurance policy rates?

A speeding ticket will affect auto insurance premiums in Albertville, MN, even if you have never been involved in an accident. The reason is related to the risk. If you are speeding, then you have a higher risk of getting into an accident. The impact of the ticket will last for some time, but the exact duration will vary based on the company.

Short-Term Surcharges

Some insurance providers handle a ticket by adding a surcharge to your current policy. The impact is an increased rate on your policy that will reduce after a set amount of time as long as you do not get into an accident or obtain a new ticket for speeding within the set period of time.

The short-term surcharges are usually added to your policy for one year. After that period, your rates will usually reduce.

Long-Term Changes

Even though companies may offer short-term options, some insurers will extend the period of time. Insurance providers have different methods of handling the situation based on the problems that you can expect to face.

It is not unusual for a company to charge a higher rate for coverage for three years or more due to the increased risk associated with a speeding ticket. If the company does not offer a short-term option, then you can expect to pay a slightly higher rate for a few years. Most companies will reduce your rate after three years if you have not gotten a new ticket or been in an accident.

A ticket will affect auto insurance rates by increasing the amount that you pay for your premium, but the duration of the change can vary. Call us today to speak to an agent for more details about your auto policy.

Auto Insurance Coverage When Out of the U.S.

Among the questions we are asked as independent insurance agents in Albertville, MN is what policy holders should do with their auto insurance while they are out of the country for an extended period of time.

In most cases, no matter how long you plan to be out of the country, it is a good idea to retain auto insurance. Even though you will not be driving your car while you’re away, life can still happen. Imagine if your car is stolen from a parking lot or garage, a tree falls on it, or the structure in which it is parked burns to the ground. You have zero coverage on that automobile if you have canceled insurance prior to leaving.

The thing about accidents is that we never seem to believe they are going to happen to us. Maybe that is a human’s way of remaining optimistic. It is the odd circumstance though, like kids breaking into your car while you are gone, that come as the biggest surprise. And let’s face it; surprises are why insurance exists in the first place.

When you are planning to be out of the US, give us a call. We can tell you more about your options, like insurance that fully covers a car that is going to be parked for months at a time. Insurers know that some cars will simply be in a garage and have developed policies to cover anything that can happen to them under those circumstance.

It is important not to ignore the issue, believing that it is something you can deal with upon your return to the country. A lapse in insurance coverage can result in the suspension of your vehicle registration, making it that much more difficult to get back on the road.

As a single parent, how can I lower my auto insurance cost?

As a single parent, it is likely that you have several concerns about your finances and managing all of the expenses. You want to ensure the safety of your family while you are on the road, but you may also struggle to pay for full coverag. Fortunately, it is possible to lower auto insurance cost with the right tools and steps.

Increase the Deductible Amount

When you want to save money on your policy, you can ask about the deductible on your plan. Some insurers may reduce your monthly payment if you increase your deductible. Depending on your insurer, the impact on your premium and the changes to your policy may vary, so you will want to ask questions and make sure that the changes are appropriate for your needs and goals.

Drive Carefully

Follow the speed limit and take a defensive driving course to learn different ways to prevent accidents. A good driving record is a key part of obtaining a low rate on your coverage.

If you take a defensive driving course, then you may also ask about discounts. Some insurance providers will offer reduced rates for the course because your risk of an accident is reduced.

Select a Safe Car

A single parent can take advantage of safety features on vehicles for several reasons. You can feel confident that your children are as safe as possible in the vehicle and you may be qualified for discounted rates if you select a car that has several safety features because the risk of severe injuries and damages is limited.

There are a variety of ways that you can lower auto insurance cost and maintain a strict budget, even if you are a single parent. The key is taking advantage of the discounts that insurance providers offer. Contact us to speak to an agent to learn more about lowering your rates.