This month with KKTV we discussed one of our other areas of specialization within AIS Medicare & More. Focusing on the ‘more’ part within our organization, we have many services we provide. Auto and Home is an area of insurance that should be reviewed annually due to all of the changes that occur with rates and claims.
Auto Insurance
Auto Insurance rates operate from a bell curve, the younger you are the more expensive your auto insurance is, then as you age it levels out, however as you start to get to an older age you can start to see the bell curve swing the cost back up. Premiums for car insurance can vary a lot from age, credit, mileage, accidents, violations, and much more. Which is why checking in on your rates annually can be very beneficial, as one carrier may be great one year and then the next it changes drastically.
Some important coverages to ensure that you have in place are proper bodily injury, property damage, Uninsured and Underinsured motorists. Having state minimum coverage in place is something that we typically do not recommend as it is not going to actually be enough coverage if a claim were to occur. Our advisable limits are to have $100/300/100 as your Auto insurance limits. Those limits can be read out as $100,000 bodily injury per person, $300,000 per accident, and $100,000 property damage. With that in mind, we do also highly recommend having the same limits for your Uninsured and Underinsurance motorists’ coverage. UM/UIM coverage is very important because that is going to be your coverage that is available when someone that does not have enough coverage in place, you still have coverage available.
Car Insurance deductibles is another topic that is brought up in the quoting process and this really comes down to what you would prefer to pay if a claim were to arise. If you have a $500 deductible then you pay the first $500 of any claim, then the insurance company will pay from there. The same premise applies if you have a higher or lower deductible. Typically, the lower the deductible the higher your premium, the higher the deducible the lower the premium. AIS Medicare & More recommends to take a look at both options and the premium to ensure your monthly cost and financial responsibility for a claim are just right for you.
There are several car Insurance companies available, at AIS Medicare & More we represent 13 different carriers to ensure that you can look at all of them instead of only being able to look at one option. Having access to an insurance brokerage allows you to not be stuck with one carrier and makes your annual review easier as you don’t have to go out and shop with another person. We can shop many options for you within the office, so that you do not have to worry about finding another person. If you would like to get some more information about auto insurance, feel free to contact us.
Homeowners Insurance
Home insurance rates widely vary from carrier to carrier as well. Home insurance primarily is going to be based off of what your replacement cost is estimated at, risk associated with the area you live in, and claims. Replacement cost of your house is going to range from one carrier to another as each has its own estimation tool that tells the company how much it will cost to rebuild your house if it needed to be completely rebuilt. Risk associated with your house can be from your city, state, flood, fire, and other factors. The primary things to keep in mind is there lots of claims that arise due to theft or other people causing damage. Does your city or state have a lot of claims arise due to natural disaster, such as wind, hail, fire, floods, or anything else? These can also affect the rates of your homeowner’s insurance because it tells the insurance company whether a claim is more likely to occur, which would in turn increase your premium.
Auto and Home insurance discounts
There are several multipolicy discounts that are available for many people during the quoting process as well.
For auto insurance the following a few discounts that can be provided: early quote discount, claims-free discount, multi-car discount, multi-policy discount, low-mileage discount, safe driver discount, pay-in-full discount, along with more discounts depending on your situation.
For homeowners’ insurance the following are a few discounts that can be provided: claims-free discount, multi-policy discount, Burglar alarm discount, paid-in-full discount, along with more discounts depending on your situation.
As always if you have any more questions regarding your options, you are more than welcome to reach out to our office and talk with one of your local Auto and Home Brokers. We have several offices throughout Colorado.
You can call us directly at 719-404-3202
Or navigate to our contact page and we can reach out to you.