Friday, August 30, 2013

Auto insurance-How to keep a low premium even with youthful drivers.

So, you have a kid that just got their drivers license.  This is great, you finally don’t have to chauffeur them around, but wait!  My insurance will cost how much?

High insurance cost goes hand to hand with youthful drivers.  To help keep insurance cost down consider the following:

  • Good grades discount- it can be as much as 20%.  Most auto insurance carriers 3.0 GPA is good enough for good grades.  Good grades can save you hundreds of dollars a year.

  • Drivers education class is a must.  Even if a kid is 18, they still should go through drivers ed class.

  • Young driver should drive an inexpensive car, so you can only have liability only coverage.

  • Keep in mind if a driver in their 30’s-60’s gets a speeding ticket, insurance premium will most likely stay the same.  If a teenager gets a speeding ticket, insurance will increase by several hundred dollars, maybe couple of thousands of dollars.  Young drivers that understand this and understand the value of a $ are more likely to be careful drivers.

  • Make them pay for their share of insurance cost, it will help them be a careful driver.

  • Adding a new driver on a policy is a good time to re-quote your insurance.  Different insurance companies have different rates and underwriting guidelines.  Insurance company that was the best option for you, might not be the best option once you add the youthful operator.

Wednesday, August 14, 2013

Homeowners insurance- Your dearest belongings are not covered.

You know homeowners insurance provides personal property coverage, but do you know that some of your most valuable and dearest belongings only have limited coverage?  Different insurance companies provide different amounts of insurance, but all of them have limited coverage on the following categories:
  •          Jewelry
  •          Firearms
  •          Musical Instruments
  •          Silverware and coins
  •          Personal Computers
  •          Stamps and other collectibles
  •          Art, works of fine art and other related items
  •          (other categories of personal property might be limited as well)

To ensure your valuables are covered, a simple and relatively inexpensive endorsement can provide FULL and COMPLETE coverage.  Just ask your agent to schedule any item above on your policy.  For more expensive items insurance company will require an appraisal and most likely you will have to re-appraise your property every 3 years.
Scheduled property is insured for all perils including mysterious
 disappearance and losses are not subject to a deductible.

If you have any questions or need more information please contact me.

Irfan Sehic
Insurance Agent 
Green Insurance Agency 
PO Box 640
Burlington, VT 05402