Why you need an insurance agent

At the end of July I had what I would call a traumatic insurance event. I was woken up one night by my husband saying the police were knocking on our door. It turns out an impaired driver had struck my SUV while parked outside our home. As I glanced out my window I could not see damage to my SUV but what I found shortly there after was my vehicle was a total loss.

My SUV immediately following the collision at 4am on July 24th.

I don’t know about other people but I loved my SUV. It took me a month to commit to buying her and I was diligent in maintaining her. I invested my time and money in maintaining the condition of my vehicle. I also enjoy the independence of having my own vehicle at my disposal at all times.

As an insurance professional I thought it would be smooth sailing but it was not. Between negotiating vehicle values to the rental car shuffle, nothing went as I thought it would. I was in four different rental vehicles while trying to get back to where I was before this claim began.

I am finally at the tail end of the claim and this is what I have learned.

  • Get towing coverage, whether through your auto insurance policy or a AAA membership. Get it! To drag my SUV onto a flat bed tow truck off of the curb the cost was over $400. Also, have the number of a tow company you trust for those 4am tow emergencies.
  • Get rental reimbursement coverage and buy it up to a minimum of $50 per day. For someone like me that drives a full size SUV with two small children in carseats and a 6’2″ tall husband you need more than the $30 per day limit. A full size SUV today is $90 per day if you are not the insurance company.
  • Know the value of your vehicle when you are reporting the claim and research similar vehicles as comparables so you are not surprised by the value the insurance company estimates.
  • In my case my gut told me my vehicle was totaled. If you have any inkling that your vehicle is totaled start finding a replacement vehicle as soon as possible. I did not want another vehicle. I delayed the process and had a hard time committing in the end.
The shock and suspension falling off the undercarriage of my vehicle.
My vehicles broken dashboard.

If you have a good insurance agent they will help guide you through the claim process and give you tips and tricks to help make it as smooth as possible. Some claims will go smoothly and others will not. When the big claim comes along you will want someone on your side to help you along the way, if not just to vent to. I don’t wish claims on any one but if a claim happens I want to be there for them.

National Insurance Awareness Day, June 28th

This Friday, June 28th is National Insurance Awareness. The day was created to encourage everyone across the nation to review their insurance policies.

Below are some tips to help you observe the day:

Home:

  • Review the home value. The value of the home should be based on current construction costs, not market value. You should review the home value every 3 to 5 years.
    • Review the home credits. If you have installed an alarm or have turned your alarm service off you should update the home policy accordingly.
    • Review the deductible. The higher the deductible the lower the premium. Also a higher deductible will discourage you from filing small claims which can impact your ability to obtain coverage in the future.
    • Review the endorsements included in the policy. If you have switched insurance companies recently a coverage may have been dropped during the process.

Auto:

  • Review drivers listed on the policy. All licensed drivers residing in your home should be listed on the auto policy. Failure to do so could result in a denied claim for unlisted drivers.
    • Review ownership of the vehicle. If the loan or lease agreement has been satisfied update the policy. This will prevent delays in payment at claim time. Any change in titled ownership should also be reflected on the policy or a new policy purchased for the vehicle.
    • Review deductibles. Insurance companies continually increase the price breaks for higher deductibles. As with the home insurance a higher deductible will save you premium and discourage you from filing small claims.
    • Review usage of each vehicle. Vehicles used for Uber or Lyft services do not have coverage while being used for this purpose. Vehicles used for business purposes may also not have coverage if used for business at the time of a claim.

Schedule:

  • Update items to be listed along with values. Appraisals should be completed every 3 to 5 years to keep up with market values. Use an inventory such as Collectify to manage your collection easily.

Umbrella:

  • Update properties, vehicles, drivers, recreational vehicles, boats, etc. at each renewal. Failure to update could result in no coverage under the umbrella.
  • Make sure the underlying insurance policies for each of the above meets the minimum liability requirements to avoid a coverage gap.
  • If you do not have coverage for the underlying insurance policy for each of the above obtain it at your earliest convenience.

With the help of a Trusted Insurance Advisors they can help you review your policies at any time, not just this Friday or at renewal. A Trusted Insurance Advisor is there to help you every step of the way. Call your agent today!

After an Auto Accident

Auto accidents are never fun, regardless if minor or major.

My client’s can get pretty rattled at the time of an accident.

Below are some quick and easy steps after an auto accident.

  • Stop immediately, but don’t obstruct traffic. Set up accident flares or warning signs if you have them.
  • Make sure to turn off your vehicle, to guard against fire.
  • Determine if anyone is injured and assist if necessary.
  • Call the police to file an auto accident report.
  • Secure the driver’s license number, make, model and other important information of other vehicles.
  • Take photos of driver’s license, registration, and vehicles involved, including license plates.
  • Secure the names and addresses of witness or other parties.
  • Observe your surroundings to determine direction, lanes of travel, traffic, weather conditions, to provide to your claim adjustor.
  • Do not accept fault of accident or attempt to make settlement at the scene.
  • Notify your insurance agent after the scene has be cleaned up and you are safely home.
  • Always, always, keep clam, don’t argue, accuse anyone or admit guilt.

If you have any questions or concerns before or after an accident consult with your insurance agent.

Insurance agents have been involved in the claim process in a variety of situations and can provide you guidance on what to expect and best practices.

Safe driving!

Pamela

Child Safety Seat and Your Auto Insurance

This weekend I went out and purchased another carseat for my soon to be 2 year old.

The carseat took up a good bit of my time this weekend. Between picking it out, unpacking it, setting it up, to installing it in my vehicle. As anyone knows with young kids, carseats are giant pain in the…

When I got into the office Monday morning one of my clients had an auto accident over the weekend. The client wanted to know what to do about the carseat that was in the vehicle at the time of the accident.

I reviewed their policy which provides coverage for the carseat. This little policy review led me on a excursion to look into more information on replacing carseats after an accident and auto insurance.

National Highway Traffic Safety Administration (NHTSA) has guidelines as to when you should replace a carseat after it has been in an accident.

Check it out here… NHTSA Child Restraint Guidelines

My research then led me to another website which is chocked full of more useful information. It provides links to carseat manufacturer information and their recommendation on replacement after an accident.

Go here… Carseats for The Littles

The big pieces of information I got when I initially looked into a carseat when I was waiting for my bundle of joy to arrive was that carseats expire, there are important recalls you should stay on top of, and you should get professional assistance when picking and installing a carseat in your vehicle. The topic of replacing the carseat after an accident never really came up.

It’s good to know that some insurance companies will pay to replace the carseat if your vehicle is involved in an accident. Keep in mind that your policy may have a limitation on how much it will pay for a carseat, and a deductible may apply.

If you do have a carseat in your vehicle make sure you know when to replace it, and make sure you talk to your insurance agent about whether your policy covers the carseat after an accident.

If you do need to replace a carseat after an accident, make sure you take a picture of the carseat before you remove it from the vehicle. Also, make sure to cut the straps on the carseat so someone else does not attempt to use a compromised carseat.

Have a safe drive home with your little one!

P