mccaffreyins

What is Driving Your Auto Insurance Rates?

8750362-8bv1Gkn0 (Lynn McCaffrey) — Fri, 21 Apr 2023 18:35:06 GMT

Insurance Rate Increases. What's driving them and what can you do to combat increasing rates?

The world post-covid has looked much different for many industries and the insurance industry is no different. Gone are the days where a good driving record and no claims meant low rates. Today's insurance marketplace is determined by a multitude of factors. So what is causing your rates to increase?

1) Rising claims costs

2) Supply Chain Issues

3) Labor market constraints

4) Inflation

5) Weather Disasters

6) Increases in new and used car prices

So what can you do to try and get your rates down, or keep them from increasing too much?

1) Go PAPERLESS! Paperless billing and document delivery cuts down on the insurers expenses and they like to pass that savings on to their policyholders.

2) Opt for longer policy terms (if available). Many insurers offer both 6 and 12 month policy terms, doing a 12 month term will allow you to lock in that rate for a longer period

3) Keep an eye on your credit health! You'd be surprised how much a strong credit score can save you on insurance over time. If you have improved your credit score drastically, ask your agent if they can re-run your insurance reports.

4) Opt for telematics. A simple app that monitors driving habits can save you a lot on your insurance, this is an especially great idea for teen drivers.

5) Pay your policies in full if you can. Full pay means less fees and most companies will offer a pretty healthy discount for paying in full.

6) If you have teen drivers, make sure they are keeping at least a 3.0 GPA or better. If your college student lives out of town/state and does not have their car available, that can help keeps rates down as well.

Wind Damage Prevention and What to do if You Have Damage

8750362-8bv1Gkn0 (Lynn McCaffrey) — Thu, 30 Mar 2023 15:09:21 GMT

Wind damage mitigation and resolution

With the arrival of spring comes a barrage of rain and wind storms. How can you protect your home from wind damage? And if you have wind damage, what are your next steps?

To prevent wind damage:

1) Make sure your roof has wind-resistant sheathing

2) Regular roof inspections

3) Close all windows/doors and secure any loose items around your property

4) Trim trees away from the roof

5) Remove any dead trees/branches

If you have storm/damage:

1) Assess and document the damage. Take plenty of photos!

2) Secure/tarp any areas to prevent leaks and further damage

3) Read your policy and know what your wind/hail deductible is

4) Contact a roofing contractor for a free estimate

5) Contact your insurance company or agent to submit a claim

Simple Tricks to Save on Homeowner's Insurance Premiums

8750362-8bv1Gkn0 (Lynn McCaffrey) — Wed, 15 Mar 2023 15:04:54 GMT

Want to lower your homeowner's insurance premiums? Check out these tips!

1) Keep your agent/company up to date on improvements you've made to your home. Did you know the age of your roof directly impacts your insurance premiums? If you've gotten a new roof be sure to let your agent know.

2) Install a central station burglar and/or fire alarm and provide your agent a copy of the alarm certificate

3) Install a battery backup on your sump pump to avoid water losses, in many cases companies will offer discounts if you purchase one of these devices

4) Gas leak detection/ Water shut off switches and relatively inexpensive ways to protect your home and save on insurance premiums

5) Automatic backup generators can also help save on premiums and help to avoid claims caused by damage during power outages