Comprehensive insurance is optional coverage that protects you in the event your vehicle is damaged due to something other than a collision. This includes theft, vandalism, flood, hailstorm, and fire. In some states, comprehensive coverage includes glass replacement with no deductible—this varies by state, so make sure to ask about the specifics when you purchase your policy.
Comprehensive coverage is usually sold with a deductible amount. A deductible is the out-of-pocket expense the insured agrees to pay before any payment from the insurance company kicks in. Deductibles of $250, $500 or $1,000 are fairly common. As a general rule of thumb – the higher the deductible, the lower the corresponding coverage premium. Although comprehensive insurance is not required by any state, your lending institution may require this coverage if you are financing your auto in order to protect their insurable interest.
If you are financing your auto—depending on the term of your loan—it is possible that the vehicle will depreciate more quickly than the value of your loan. Keeping track of your vehicle’s depreciation value can help assess the benefits of paying the difference to the lender or purchasing gap insurance, which covers the difference between a vehicle’s actual cash value and the sum owed to the lender.
EMERGE INSURANCE AGENCY
“Why did my insurance premium increase? I haven’t been in an accident, gotten any tickets, or made changes to my policy.”
Sound familiar? This question is one insurance agents receive all the time. When the cost of your car insurance goes up at renewal, the increase can feel unjustified — especially if you’ve been insured with the company for a long time and haven’t had any tickets or accidents. I felt the same way when the cost of my auto insurance increased by 28% last year (yes, insurance agents are impacted by premium increases, too!).
But before switching insurance companies, there are two important things to keep in mind. First, rate increases aren’t unique to any one insurance company or geographic area. Premium increases are impacting drivers across the country for a variety of reasons. Second, and more importantly, there are things you can do to off-set any premium increase you receive.
(Watch: ABC News Report “Auto insurance costs rise, in part due to texting by drivers”)
Why are insurance companies raising rates?
At its most basic form, the premise of insurance is sharing risk and shouldering costs with others. Although your individual circumstances or driving behaviors may not have changed, all of us are impacted by the following:
How Can You Lower Your Car Insurance Premium?
Most importantly, drive carefully. Observing traffic rules and speed limits and avoiding moving violations and accidents is the best way to reduce your insurance costs over time. There are also many immediate solutions to lowering your auto insurance premium:
Emerge Insurance Agency Can Help
As independent insurance agents, we represent the Pacific Northwest’s best insurance companies, including Safeco, Travelers, Progressive and other top-rated companies.
We can advise you on your insurance options and ensure you’re still receiving the combination of value and protection that is right for your family.
Not a Emerge Insurance Agency client yet? Click here to request an insurance review by one of our agents, or call our office at 904-677-5884.
Florida has the worst drivers in the United States
A study released last year has confirmed that Florida is the worst place to drive in America.
The study, released by the website SmartAsset, studied every state's propensity for driving tickets, traffic deaths, DUI arrests, and uninsured drivers, and ranked them all from worst to best. Florida was ranked the worst place to drive in the nation.
The study revealed that Florida has the second-lowest rate of insured drivers in America, likely due to the high number of recent immigrants in the state. Perhaps surprisingly, there are actually fewer DUI arrests per capita here than in most states.
The study confirms what anyone with eyes in Florida already knows: Everyone here drives like a maniac. Of the 25 worst states in the nation, Floridians Google the words "speeding tickets" and "traffic tickets" significantly more than any other state. (Granted, this isn't an actual count of traffic tickets issued, but it does hint at the overall number.) Florida outpaced the next-highest state, Alabama, by 15 points.
So the next time you wonder why your auto insurance premium continues to increase while you haven’t had an accident or ticket, remember you live in Florida.
EMERGE INSURANCE AGENCY
First and most importantly you need General Liability Insurance. Every business, even if home-based, needs to have liability insurance. The policy provides both legal defense costs and damages if you, your employees or your products or services cause or are alleged to have caused Bodily Injury or Property Damage to a third party. If your company primarily is engaged in business-to-business transactions, you will probably be asked for proof of general liability insurance. And if your business is a tenant in building, the build owner may require proof of a general liability policy.
Next you need to consider Property Insurance, If you own your building or have business personal property, including office equipment, computers, and inventory or tools you should consider purchasing a policy that will protect you if you have a fire, vandalism, theft, smoke damage etc. You may also want to consider business interruption/loss of earning insurance as part of the policy (especially if you own a restaurant) to protect your earnings if the business is unable to operate.
There is a single policy that combines both general liability and property insurance. It is a Business owner’s policy or (BOP). A business owner policy packages all required coverage a business owner would need. Often, BOP’s will include business interruption insurance, property insurance, vehicle coverage, liability insurance, and crime insurance . Based on your company’s specific needs, you can alter what is included in a BOP. Typically, a business owner will save money by choosing a BOP because the bundle of services often costs less than the total cost of all the individual coverage’s.
You may also need Commercial Auto Insurance. Commercial auto insurance protects a company’s vehicles. You can protect vehicles that carry employees, products or equipment. With commercial auto insurance you can insure your work cars, SUVs, vans and trucks from damage and collisions. If you do not have company vehicles, but employees drive their own cars on company business you should have non-owned auto liability to protect the company in case the employee does not have insurance or has inadequate coverage. Many times the non-owned can be added to the BOP policy.
Another coverage that has become essential for businesses is Cyber Liability Insurance. Cyber insurance generally covers your business' liability for a data breach involving sensitive customer information, such as Social Security numbers, credit card numbers, account numbers, driver's license numbers and health records. Remember this type of loss is not covered under a company’s general liability policy.
If you are a lawyer, accountant, consultant, notary, real estate agent, printer, own a hair salon, therapist, or a technology provider you will need Professional Liability Insurance. This type of insurance is also known as Errors and Omissions Insurance. The policy provides defense and damages for failure to or improperly rendering professional services. Your general liability policy does not provide this protection, so it is important to understand the difference.
These may be the only coverage needs your business has, or you may have others. As an independent insurance agency Emerge Insurance Agency will work with you to assess all the risks that may impact your business. We will then work on your behalf to mitigate those risks with insurance policies the cover your risk at the lowest premiums we can find.
Call us and let us get to work earning you as a client.
You may have heard rain can bring you good luck on the day of your wedding. But, illness, tropical military deployment, hurricanes, and sudden injury are another story. And, although you can’t prevent the unexpected from happening, you can protect your investment and reduce the risks by purchasing insurance for your big day.
When you’re planning your wedding, whether it’s in Jacksonville, St. Augustine, Orlando, or outside of Florida, you’ll likely have plenty of questions such as whether you should hire a band or DJ, what color dresses should your bridesmaids wear, and what should the color of the flowers be. However, another very important question both you and your soon-to-be spouse should ask yourselves is if you need wedding insurance.
Do You Need Wedding Insurance?
The average wedding day costs $16,000, according to the Insurance Information Institute.
Wedding insurance covers you in a circumstance where an unexpected covered event that’s beyond your control causes you to postpone or cancel your wedding and lose your deposit.
What types of unexpected circumstances would this insurance most likely cover?
As you can see, there are a number of things that can happen unexpectedly on your wedding day that could cost you a lot of money if you’re not covered by wedding insurance.
Types of Wedding Cancellation Insurance
There are several types of insurance for your wedding. However, the most common types include:
Wedding cancellation insurance doesn’t just protect you against the financial burden of an unexpected postponement or cancellation, but it may also cover you if a vendor doesn’t fulfill their obligations. For instance, you’d be able to get back your deposit if your vendor goes out of business the day before your event.
Insurance doesn’t always cover all unforeseen costs though. It doesn’t cover you if you or your partner gets cold feet or a change of heart. This is common and costs a lot of money, which is why most insurance companies don’t cover it. For example, one New York study showed that 6.5 percent of couples had a change of heart after applying for their marriage licenses.
So, do you need wedding insurance? That’s up to you. If you plan on having a wedding larger than a small gathering, you should consider it. The costs for this insurance can vary, depending on the amount and type of coverage you select. Typically, wedding insurance policies cost anywhere between $200 - 500.
Here at Emerge Insurance Agency, we offer wedding insurance so that you can have peace of mind on this important day in your life. Talk to one of our independent insurance agents about the quoting wedding insurance and see if it’s something you should consider.
Cecil Williams -