Thursday, September 24, 2015

How to Choose the Best Auto Insurance Deductible

When quoting auto insurance for clients, we frequently discuss how to choose the right deductible.  We thought it would be a good idea to take a few minutes to share this information here on our website too!

What is a Deductible?

A deductible is the amount you pay out-of-pocket when you have a claim.  If you have a $500 collision deductible and have an accident, then you would pay $500 towards repairing your vehicle and your insurance would cover the rest.

The deductible you choose directly relates to the amount of money you spend on premiums each month.  The higher the deductible ($250, $500 or $1,000), the lower your monthly cost. 

So How Do You Choose? 

Cheaper price or lower out-of-pocket expense?

First, look at your emergency savings.  Do you have enough cash available to cover a higher deductible if you needed to pay it?  If the answer is no, then you’re better off paying a little extra each month.

Compare the cost savings.  When we run a quote, we can show you several different options.  Ask your agent to run the premium based on several different deductibles so you can see the actual dollar cost savings.

You can always change your mind.  If you’re short on cash now, but know you could afford more out-of-pocket next year, you’re always able to change.  Keep your deductible in a comfortable range and you’ll always be well protected! 

Questions? Call SAV-ON Insurance at 888-867-2866 for more information and a personalized quote. We're here to help!

Thursday, September 10, 2015

'Back to School' Insurance

School supplies and clothes have been purchased and schools are in session in most cases. If you're heading off to college, it's coming up quickly.  What does that have to do with insurance? Here are a few things to keep in mind:

Good Grades - Many policies allow discounts for students with good grades. It's important  to keep those grades up! These discounts can apply to college students too.

Driver Training - There are different discounts available for Drivers Education classes. At SAV-ON, we can review all the options and let you know which discounts will impact you the most.

Moving To The Dorm - If you're in college, will you be living in the dorm this semester? Your parent's homeowners Insurance may cover your belongings without additional coverage being needed. This is called Property Off Premises coverage. Discuss this coverage with your parents, and if they need clarification, call us.

Remember, any claims would be subject to the deductible which is usually higher on home policies! Have your parents contact us for a policy review to check for the specific amounts of coverage included.

Moving To An Apartment - If you have recently graduated and from the dorms to an apartment, your parent's homeowners Insurance will not cover your belongings and they would need their own renters Insurance policy.

Renters Insurance is very affordable, and covers all of the contents of the property. It also provides liability insurance if someone were injured in the property or if someone caused a fire, etc. By making sure you are properly insured, your parents are also protecting themselves from any liability.

We work hard to make sure all of our clients have the right coverage at all times. The fastest and easiest way to make sure you are receiving all the discounts you qualify for and that your belongings are covered at college is to have your parents schedule a review! Have them call SAV-ON Insurance at 888-867-2866 to review their policy and situation and we'll make sure all of your questions are answered!