Archive for the ‘Education’ Category
Can I get replacement coverage on my motor home or travel trailer if it is covered under my auto policy? Will my auto policy provide vacation liability, emergency expense or roadside assistance?
What’s the solution? Replacement cost, vacation liability and emergency expense are not offered on a personal auto policy. A specialized motor home or travel trailer policy is needed to get these coverages. Roadside assistance is usually limited under a personal auto policy to $50-$75. Under a specialized policy, roadside assistance will usually cover for your RV to be transferred to the nearest repair facility.
Can I get replacement coverage on my motorcycle if it is covered under my auto policy? Will my auto policy provide vacation liability, emergency expense or roadside assistance? Will the accessories on my bike be covered?
What’s the solution? We can offer a specialized motorcycle policy that offers replacement cost coverage, vacation liability, emergency expense, roadside assistance and coverage for bike accessories. If you have a covered loss or mechanical breakdown, trip interruption can reimburse you for hotel, meals and alternate transportation if you are stranded 100 miles or more from home or if your bike needs to be towed. If you don’t have a specialized policy, you may be missing out on important coverage and discounts.
Can we help? Call Turner Agency Insurance at 288-9513 or email us at email@example.com.
Does your homeowner’s policy cover your ATV? Does it cover the usage of your golf cart anywhere in your neighborhood?
Answer: Only when the ATV or golf cart is being used on your residence premise and solely for the maintenance of your property.
What’s the solution? Purchase a specialized policy that provides coverage when your ATV or golf cart is used for pleasure use, whether on or off premise. Another benefit of covering your ATV or golf cart on a specialized policy is you won’t risk filing a claim on your homeowner’s policy. ATV or golf cart policies can average from $100-$250.
Will your auto policy cover your ATV, boat, golf cart or motorcycle if something should happen while you are transporting the recreational vehicle on the road?
Answer: An auto policy will cover the damage caused by any of these while being pulled behind your vehicle. It does not cover damage to the ATV, boat, golf cart or motorcycle in this scenario.
What’s the solution? A specialized policy offers physical damage for the ATV or golf cart, liability coverage up to $500,000 and covers recreational use and while away from your residence. Medical payments coverage is offered up to $25,000 – again giving you coverage for recreational use and while away from your residence.
Is my jet ski covered on my home policy?
What’s the solution: Purchase a specialized policy to cover personal liability and physical damage for your jet ski.
Am I covered if I rent a jet ski while on vacation?
What’s the solution: To ensure you are covered in the event of a loss, purchase the insurance offered by the rental company where you get the jet ski.
For more information, call Turner Agency Insurance at 288-9513 or email us at firstname.lastname@example.org.
Does my homeowner’s policy cover my boat?
Answer: There is very little coverage for your boat on a homeowner’s policy. The general limit is $1,500 for property damage to a boat under 26’ and under 25 HP. Also the homeowner’s deductible would apply.
What’s the solution: A specialized boat policy offers Actual Cash Value, Agreed Value or Replacement cost depending on the age of the boat. Also, you won’t risk filing a claim on your homeowner’s policy if you cover your boat on a specialized boat policy.
Is my boat covered everywhere I go?
Answer: Most boat policies have a navigational limitation. Coverage on a boat policy applies to all inland waterways and all bodies of water within 75 miles of the US and Canada. Boat policies cover towing from a breakdown and offer coverage for watersport activities. Boat policies also offer coverage for on board items such as fishing equipment and personal effects. Some policies also offer an endorsement to pay to move your boat out of harms way when a named storm is approaching.
How can I save money on boat insurance?
• Make sure you are getting the appropriate policy for your type of boat. There are many different options for boat policies so make sure you have the right one for your needs.
• Safety features may offer additional discounts so let your agent know of any features you have such as a GPS.
• Take a boating class. Sometimes taking a qualifying class can save you 5% a year on the cost of your policy.
• Extend your lay-up period. The company may be willing to reduce your premium during the months you are not using your boat. Please note that if you do this, you have no coverage during the lay-up period, this includes fire and theft.
Call Turner Agency Insurance with any questions or email us at email@example.com.
The Turner Agency wants you to know how we protect the confidentiality of you and your businesses non-public personal information. We want you to know how and why we use and disclose the information that we have about you. The following describes our policies and practices for securing the privacy of our current, former and hopefully future customers. At The Turner Agency, we respect the privacy of our customers. We do not sell or share our customer list with anyone else for the purpose of marketing their products to you.
Information We Collect
The non-public personal information that we collect about you and your company includes, but is not limited to:
- Information contained in applications or other forms that you submit to us, such as name, address and social security number
- Information about your transactions with our affiliates or their third-parties, such as balances and payment history
- Information we receive from a consumer-reporting agency, such as creditworthiness, motor vehicle reports or credit history
Information We Disclose
We disclose the information that we have when it is necessary to provide our products and services. We may also disclose information when the law requires or permits us to do so.
Confidentiality & Security
Only our employees and others who need the information to service your account have access to your personal information. We have measures in place within The Turner Agency to secure our paper files and computer systems.
Right to Access or Correct Your Personal Information
You have the right to request access to or correction of your personal information that is in our possession.
If you have any questions about this privacy notice, please call us.
Consider this real-life example where there was a gap in coverage:
An employee used his company car on a family vacation. There was a serious accident where a fatality was involved. The commercial auto policy did not cover personal use of the auto. The employee’s personal policy did not cover anything because he didn’t have the extended non-owned endorsement. The employee was sued personally by the family of the deceased.
If you drive a company car, you may want to be sure you are properly insured in the event of an accident. A Non‐Owners policy gives you personal liability and uninsured coverage which protects you individually.
Ask yourself the following:
- Do you drive a company car? If so, how does your company’s commercial auto policy respond if you are named individually in a law suit from an auto accident?
- Are you, your spouse, and/or your children allowed to use your company car for personal use?
- Let’s say you drive a company vehicle, rent a car on vacation, and you are involved in an accident. How would your company’s commercial auto policy respond if you are named in a law suit from an accident?
- Do you ever borrow a friend’s car? If so, have you thought about their liability limits? What if your friend’s insurance company does not cover you as an unlisted driver?
- oes your child at college have a friend’s car available for their “regular” use?
If the answer to any of the above questions is “Yes,” then you may need a non‐owned auto policy to provide coverage in the above situations. Other benefits of a non‐owned insurance policy include:
- If you decide to purchase a car in the future, your new carrier may choose to surcharge you at first for having no prior coverage if you are without this policy. If you carry liability on a non‐owners policy, you could avoid paying higher insurance premiums for your personal auto insurance.
- You may qualify for a discount on your homeowner’s policy if you have a Non‐Owned policy with the same insurance company.
- If you have an Umbrella policy, it will work with the Non‐Owners policy. This means you would have an additional $1,000,000 or more of protection.
If you drive a company car and your spouse drives a personally owned car, there is another solution for you. In this case, you can purchase an endorsement called “Extended Non‐Owned”. It’s fairly inexpensive and offers the same type of protection a Non‐Owned policy would give you.
Contact us at 288-9513 or firstname.lastname@example.org to see how easy it is to put a Non‐Owners policy in place or to add Extended Non‐Owned to your personal policy. The premiums are reasonable and you may even save money on your homeowner’s insurance by qualifying for an account discount.
The iconic 1985 comedy “Summer Rental” starring John Candy is a hilarious portrait of Jack Chester, a family-man dedicated to giving his family the best beach vacation possible. It’s also full of important insurance lessons. Here’s a quick rundown of what is, and is not, covered. Review these with us before going on vacation this summer so you know whether or not you’re protected.
Renting a vacation home
- Personal liability coverage follows you anywhere in the world.
- Personal property coverage would apply as well, but coverage for personal property of guests is limited.
- Should the vacation home, hotel, cottage, etc. be damaged or uninhabitable, there is no Loss of Use coverage under the standard homeowner’s policy.
- Damage to property of others (such as the building itself or its contents) is limited to $1,000 subject to policy exclusions.
- One of the most common rental scenarios involves jet skis. ISO’s standard homeowner’s policy provides liability coverage for inboard or inboard/outboard watercraft that has 50 HP or less, BUT This would exclude many, if not most, rented jet skis.
- The standard ISO homeowner’s policy provides liability coverage for rented sailboats less than 26 feet in length and borrowed sailboats (i.e. not owned or rented) of any length.
- No coverage for racing events – sorry Jack!
- Most non-motorized watercraft such as kayaks, rafts, canoes, and rowboats should have some coverage, but it’s always best to check prior to renting.
What can we learn from Jack Chester? Don’t fall asleep in the sun, make sure your vacation home isn’t also the public beach access, and do your homework before embarking on your next family-fun adventure. Take a few minutes and check us before you leave– it’s always better to ask if you have coverage beforehand.
Source: Central Insurance
This summer, millions will take to the road to embark on the annual family vacation. Although many people drive their own personal vehicles on family road trips, others opt for the convenience and utility of renting a car for vacation travel. By going this route, families are able to save the mileage and wear and tear on their own personal vehicles and in many cases, obtain a larger vehicle with more space than their own car would provide. Even those vacationers who fly to their destination often rent a car when they arrive so they can travel locally.
If you are a person considering a rental for vacation travel, don’t forget to think about any insurance implications a rental might present!
Most personal automobile policies cover you for losses caused by other-than-collision (also known as comprehensive) or collision in a rental car—provided you have that coverage on at least one vehicle on your policy. Your policy’s comprehensive and collision coverage will extend to other members of your household and even to friends who may be traveling with you.
However if you don’t have full coverage on at least one vehicle on your personal policy, you may need to look into purchasing the rental car company’s Collision Damage Waiver that’s offered at the point-of-rental.
Another option that’s available to you in many cases is coverage that’s provided through your credit card. Several national credit card companies offer Collision Damage Waiver coverage automatically if the rental fee is charged using the credit card. Generally this coverage tends to be “excess” over any other coverage that’s in place—including your own personal insurance coverage—meaaning that the credit card’s coverage is only available after the limits of other policies have been reached.
Still not sure what you need to do? Here are some tips to help you decide how to handle insurance coverage issues on your next rental:
- Ask the rental car company ahead of time exactly what you will be held responsible for under the rental agreement in the event of a loss.
- If you’re paying for the rental with a credit card, call your credit card company before you rent to find out if Collision Damage Waiver coverage is available.
- If you choose to rely on your own personal insurance policy as coverage, carry a copy of it with you on your trip, both as proof of insurance and as a handy source of the terms of coverage.
- Before you pull out of the rental car lot, inspect the car for existing damage and have it noted in your rental agreement.
- Most importantly, contact your independent insurance agent to help guide you through the decision-making process of ensuring that your rental vehicle is properly insured.
Source: Central Insurance
Do terms like liability, comprehensive coverage, and underinsured seem like a foreign language to you? If so, you are not alone.
Julie Turner, wife of Ross, loves to tell the story of when Ross first reviewed her auto insurance policy back in 1989. Both were single at the time, and Julie’s insurance bill was due. Ross looked at the policy and couldn’t believe his eyes.
Julie had the minimum limits and very little coverage – on her brand new 1988 Honda Accord! When he asked her why, she said she had called an 800 number and asked for the best price. She had no idea that her policy would not have paid enough if she had been in an accident. Suffice it to say, Ross eventually became her insurance agent and her husband… and in that order!
It’s important to understand your automobile insurance coverage, even though it can seem complicated. Take a moment to review these key auto insurance terms:
Liability Insurance – Reimburses others for injury, damages or losses caused by your driving or your car. There are two types:
*Bodily Injury Liability – In a car crash where you’re at fault, bodily injury liability will provide compensation for pain and suffering, lost earnings and related expenses resulting from injury or death. We can help you determine the right amount of coverage, based on whether you own a home and other substantial assets that could be at risk in a lawsuit.
*Property Damage Liability – This coverage will pay to repair or replace things you damage in an accident other than your own car. Again, it’s best to consider your personal situation.
Collision Insurance – Covers the replacement or repair of your car, regardless of who is at fault in the accident, even if you are hit while parked or hit by an unknown car or object. If you have a car loan, you are required to have collision protection. On the other hand, if your older car’s value rises and falls based on the gas in its tank, you may consider dropping collision coverage.
Comprehensive Insurance – Protects against damage to your car that does not involve a collision. For example, fire, theft, hail, flood, windstorm, flying objects or animals. It’s likely required if you’re paying a car loan, but optional if you own an older car that’s not worth much.
Medical Payments Coverage – Pays for physicians, hospital bills, continuing care, funeral costs and compensation for you and your passengers, regardless of who is at fault. If you have adequate health insurance, you may not need this optional coverage, but it can pay expenses your health insurance may not cover.
Uninsured and Underinsured Coverage – Covers you, and members of your household, for losses in an accident with a hit-and-run driver or a driver who has no car insurance or not enough car insurance.
And remember, we love questions! We are happy to walk through and explain your policy at any time.
When purchasing or leasing a new car, it’s important to understand how much that new car is actually going to cost over the long run. Beyond taxes and fees, monthly payments, and any finance charges, new car buyers must also take into account other expenses such as the costs of maintenance, insurance, and fuel. An intangible “cost” is the depreciation of the car that most dramatically reduces the residual value of a new car over the first few years of driving it.
If you plan to keep your new car for less than five years, it’s important to know how well the vehicle will hold its value over time, because its residual value will be important when it comes time to trade it in for your next new car purchase.
Here are six points to consider when shopping for a new car:
Depending on where you live, when you buy a new car, you may be faced with local city and state taxes added on to the purchase price. According to TrueCar data, items like sales taxes, license, and registration can add as much as 5% to the purchase price of a new car. (Note: percentages in the accompanying chart are estimated 5-year cost of ownership and based on a $30,000 car).
Financing costs may vary significantly depending on your credit rating, and any special offers and incentives the new car manufacturer could be offering to help sell specific vehicles. According to TrueCar data, the average cost of financing a new car is 5%, but keep in mind this is accounting for all vehicle loans in play during the research period, and includes sub-prime rates being paid by buyers with poor credit, as well as great annual percentage rates (APRs) being paid by buyers with excellent credit. Before you shop, be sure to know your credit score, so you know what to expect to pay when you finance your purchase.
Maintenance costs can add quite a bit to the cost of a new car, especially if you are buying a car with cutting-edge technology or a luxury or high performance vehicle that may cost more to maintain. What does it cost to keep your new car running? Take into account things like oil changes and filters, new brakes and tires, brake and transmission fluids, and even special urea additives for some high-tech diesel engines. The good news is that many new cars have reduced maintenance needs (always refer to your owner’s manual for recommendations about service intervals) and many manufacturers such as BMW, Cadillac, Lincoln, Mini, Toyota, Volkswagen and others include maintenance programs for new car buyers. Data shows maintenance can add 9% to the cost of a new car over its first five years.
It is also important to factor in insurance costs when shopping: reports show automotive insurance can add as much as 17% to the cost of a new car. It might seem backwards to check with your insurance agent before you actually purchase a new car, but if you knew the premiums were going to be sky-high for a certain vehicle, would you be inclined to choose a different vehicle or trim? If you have questions about an insurance cost, call us at The Turner Agency.
Depending on how much you drive, the current cost of gasoline, and the fuel economy of the new car you are buying, fuel costs can add an average of 28% to the cost of ownership. Check that window sticker, officially called a “Monroney,” to learn the estimated fuel costs for the car you are considering. Fuel economy ranges are listed for city and highway miles, and include a “combined” rating that will help you compare that vehicle to others in its class. The annual estimated fuel cost quoted here is based on what it would cost to drive that vehicle 15,000 miles a year, based on 45% city and 55% highway driving at current fuel prices.
The biggest variable on any new car purchase is depreciation, however, depreciation shouldn’t be a deterrent to buying a new car, especially if you plan to keep the vehicle for a long period of time or you are planning on leasing. Once you drive a vehicle off the dealership lot, it depreciates in value. It’s important to understand the resale value of the vehicle you are considering purchasing, because depreciation varies per vehicle. In general a vehicle loses 15 to 20 percent of its value per year, with the first year being the steepest. This is due to the change in value between the retail price you pay at the dealership and the wholesale value its worth once it has left the lot.
According to TrueCar data, the average depreciation of new cars is about 36% over five years. It’s such an important aspect of vehicle leases that companies like ALG rank all new vehicles each year on their future residual value, and honor the vehicles in each segment that are forecast to retain the highest percentage of MSRP after a three-year period. Residual value is a complete indicator of vehicle value, taking into account quality, durability and brand desirability.
Lastly, keep your overall costs low by starting with the best purchase price possible – and make sure you know what other people are paying for the car you want, so you don’t overpay. Whether you plan to purchase or lease your next new car, be sure to go to hartfordautobuying.com to see what others paid, see available incentives, and get Guaranteed Savings off MSRP from a Program Certified Dealer.
*Information provided by The Hartford.
Hail to the chief! If you’re in the market for a new car, depending on what type of vehicle you’re looking for, President’s Day Weekend may be the time to find it. In addition to certain discounts from the automakers, dealerships also may be offering deals or incentives to buy. But whether you’re buying your first car or trading in for a “Presidential” upgrade, it’s important to keep in mind a few things about auto insurance when shopping for a new car.
First, if you’re serious about buying a new car (or a new-to-you used car!), before you even step onto a dealer’s lot, let us know you’ll be buying a car. If you have a specific make and model in mind we may be able to give you a quote on the price of insurance coverage, so that you can factor it into your budget and decision making process.
Second, you cannot drive the car off of the lot without insurance coverage, so making arrangements with with us ahead of time can save you time and effort scrambling to secure coverage while at the dealership.
Here are a few more things to consider…
Do you already have insurance?
Yes- If you already have auto insurance on your existing car and are trading it in, some insurance companies will cover your new car for up to 30 days before changing to a new policy, but make sure you ask if your current company will provide coverage on the new car until you’re ready to make separate arrangements. If your old car or trade-in doesn’t have collision coverage and you’re financing the new car, the lending company will very likely require that you add collision coverage. Check with us to see if your new car is eligible for any insurance discounts your previous car wasn’t- some insurance companies provide discounts for certain safety features and anti-theft devices.
No- If this is your first car you’ll definitely want to make arrangements with us ahead of time. If you already have homeowners or renters insurance, you may be eligible for discounts on premium by adding an auto policy with the same company.
As a smart shopper you may want to literally kick the tires on a few models and visit a few dealerships before making your decision. In fact, you’ll probably want to take a prospective car out for a test drive. But what happens if you get into an accident during your test drive?
There are a lot of variables at play when you test drive a car. First of all, even though the dealer may have insurance on the vehicles, do not assume that you are absolved of all of the risk of taking the car for a test drive. Understand what insurance coverage you have and what insurance coverage may be required by your state or the dealership before taking a test drive.
Make sure that the dealer assures you that if you do have an accident and damage the car, their insurance company will not come after you for reimbursement. Most garage policies (which insure the cars for the dealership) allow the dealer to waive subrogation in advance (in other words coming after you for the reimbursement).
Shopping for and buying a new car can be fun, and know that you can call us anytime about coverage questions. We will help ease the buying process.