Auto Insurance Rates in Palm Bay, Florida

Frank: One of the other things I'd like to talk about is why you should shop your auto insurance. A lot of people get with the same company and stay with them for years. They don't really shop, and I don't think that's wise. Even if you read Consumer Reports, they will tell you to shop your rates not in between a direct writer, but go to some of the independent agents as well. There are several things that will affect your rates.

Kevin: Absolutely. Your auto premium can be based on a number of variable factors, anything from the age of the children or the age of the individuals on the auto insurance, the type of car that you drive, crash statistics - national crash statistics can have a huge impact. The geographical region that you live can have a huge impact. And these things are always changing, and several of which are out of your control. It's always a good idea to have your auto insurance shopped at least every couple of years to make if one of those variable factors have changed, you're not missing out on some possible premium savings.

Frank: One of the things we do, we have a program that will do five different rates at one time. And what's amazing to me is that the person sitting across from us has the same risk, but the companies will have rates that typically will vary up to 40%, and I think it really depends on the company who they're most comfortable insuring. Everybody's so different anymore that these rates aren't very consistent. One company might have higher rates, and they're going to terrible for this customer, and all of a sudden, they're the lowest. So, it does really pay to shop.

Kevin: Absolutely. And it's also important to remember that if you have significant changes in your life, if you get married for example, it might be a good idea to shop your auto insurance because one of the partners might have a better driving record than the other, might have a better credit score than the other. There might be an issue there that can help control the pricing of the auto insurance favorably. So, it's important that your auto insurance agent understands exactly how things are with your situation currently and is able to keep you up to date on any changes in your life or in your area that could have a direct impact on the cost of your auto insurance.

Frank: And especially if you have teenagers. I mean, teenagers are so expensive. And again, the company's rates deviate so much for teenagers. Some are more inclined to insure them. Some have special programs for them called Teensurance, where they want to insure those teenagers, and they want to help them take courses so they have fewer accidents. So, you do want to shop, especially if you have teenagers.

Kevin: Absolutely, it's extremely important that you contact your insurance agent, ask them if there's any possible factors that have happened in your life that could change the pricing of your auto insurance. You may not have had any accidents in quite some time. Contact your insurance agent today and ask them to quote your auto insurance for you and see if maybe some of those changes in your life will have a direct impact on how much you're paying for your insurance.

Frank: Again, give your agent a call, review your policy, and if youd like a second opinion, give us a call at the Insurance Center of Central Florida. Our number is below.

http://www.theinsurancecenter.us/
888-363-4706

The Insurance Center - Give and Get Referral Program

Hi, I'm Angie with the Insurance Center of Central Florida here to tell you about the Give and Get Referral Program. Give and Get is a program we developed to reward mortgage and real estate professionals for our client referrals. Our goal is to promote long-lasting business relationships with both new customers and business associates. You can receive a $10 gift card for any insurance lead. It's fast, and it's easy, and it's a win, win, win situation for you, your client, and the Insurance Center.

Here's how it works. When you refer a customer, log on to our website at www.TheInsuranceCenter.us, click on the Mortgage Broker and Realtor Partnership Program button on the bottom left of the page. Fill out the information, click submit, and you're done. It's that easy. You can be assured that your clients will receive fast, professional service, whether they decide to do business with us or not.

At the Insurance Center of Central Florida, we believe in doing business locally, so let us reward you for a client referral. You and your customers will be glad you did. Thank you.

http://www.theinsurancecenter.us/

for details or call us at 800-659-0986

How Do Insurers Determine the Cost of My Insurance?

There are many factors that affect the premium (cost) you will pay for insurance. The key to saving money and maximizing coverage is having good communication between yourself and your agent. Here are a few items to consider:

* Your Driving Record. Your agent will ask routine questions about accidents and moving violations for any driver covered by the policy for the previous five years. If you have previous violations, or have been in an accident where you were determined to be at fault, there may be an adjustment to the premium to offset the perceived risk. That’s why it's so important to get all the information you need to accurately compare policy quotes.
* Where You Live. This may seem strange to you. Why would where you live effect how much you pay? Insurance companies know that increased traffic leads to more accidents; therefore living and driving in a city may result in more accidents than living and driving in a rural area. It doesn’t mean you need to move to a farm, but you definitely need to pay attention when driving. A good driving record is the best defense against increased premiums.
* Gender and Age. That may not seem fair, but it’s based on statistics. History shows that males still have more accidents than females. So rule number one: as a group, the guys need to slow down and pay attention, because they are paying a little more for their insurance. Insurers also have statistics that show a higher number of claims for some age groups than for others.
* Marital Status. Once again, this is based on statistics. Insurance company claims records show a lower rate of auto insurance claims among married policyholders. So, if you prefer to remain single, nothing beats a good driving record.
* Prior Insurance Coverage. If you've previously been canceled for non-payment of premiums, insurers want to know. If you’ve had insurance, your new insurer may ask your prior company about any claims you had. The key is to provide as much as information as you can to your agent. This will allow your agent to place you with the carrier (insurance company) who has the best rates for you. One carrier may be competitive on one type of policy, but not on another. Your agent should have access to multiple carriers in order to get you the right coverage and the lowest rates. Not all agents and all policies are created equal.
* Mileage. The more miles you drive, the more opportunity for an accident. In other words, if you do a lot of driving, you may pay a slightly higher premium. Your agent will know which carrier is best for drivers who spend a lot of time behind the wheel.
* Type of Vehicle. If you want to drive an exotic car, you will pay more for the insurance. As the price of your vehicle goes up, so does the potential costs to repair it. The physical damage premium will be increased to cover the additional risk.

What are the advantages to using an agent to purchase insurance?

What are the advantages to using an agent to purchase insurance?

By using an agent to purchase insurance, the policy holder receives more personal service. An agent with whom there is direct contact can be vital when purchasing a product and absolutely necessary when filing a claim. A local independent agent is able to deliver quality insurance with competitive pricing and local, personalized service.

Have all your questions answered in one phone call: 888-363-4706 or log on:

http://www.theinsurancecenter.us/

Check Out Insurance Center's Ratings - Melbourne, FL

Frank: One of things to consider when buying insurance is the strength of the company. There's basically two different rating agencies. There's a company called A.M. Best, and there's a second company called Demotech. A.M. Best is the one most often used on a national basis. They require five years of business before they'll give you a rating.

Kevin: Right. And it's extremely important that you understand what the rating of your company is or that you have an insurance agent who is willing to explain to you the importance of your insurance company's rating and why that matters is because when you have widespread damage, catastrophic losses like we have in Florida when hurricanes come through. These are not isolated incidents. This is not one house getting blown down. This is damage across counties, across communities that can add up to be millions and millions and millions of dollars worth of damage. And when that potential is there, you need to be sure that you've got an insurance company that is financially strong enough and has the infrastructure to be able to handle that many claims at once and to be able to pay you what you think you're supposed to be getting when you buy the insurance from them in the first place. An insurance agent can help you understand that by simply going over what the rating of the company is and telling you a little about how that company does business.

Frank: A couple of things to think of. In Florida, we basically have two types of companies. We have the national companies, which are the household names: Metropolitan, State Farm, Travelers, Allstate, Nationwide. Most of these companies really now have stopped taking on new policies, so what you have is you have some regional ones, and you have two sets of regionals. You have regionals that started after Hurricane Andrew. Now, they've been around now for about 15 years. Those companies, what's nice about them is they've been through the '04 hurricane season. They have a very good handle on how to get your claims fixed and resolved in a timely manner. What you have now is, after the '04 and '05 hurricane seasons, there's a lot of new startup companies that are new. They really don't have that experience to go through a hurricane. I like to equate it to directions. If you go somewhere once on a first time, you may get lost. The second time, it's a little easier. The third and the fourth, it gets a little easier. Probably no problem. When you have a hurricane and there's widespread damage, you don't want it to be the first time your company's ever had that experience. So, you want them to know how to handle this, not going through it for the first time. So, again, I would really look at the company, ask the agent how long he or she has represented this company, how did they do during the '04 and '05 hurricane season, have they had any experience in this? I think it's important.

Kevin: It's extremely important because the last thing you want is to have your claim getting delayed or to have your claim not being settled to the way you think it's supposed to be settled because the insurance company can't keep its house in order. That's the last thing that you as a policy holder want to hear after the worst has happened. So, it's a good idea to talk to your insurance agent, find out a little bit of information about the insurance company that they have your policy with, because it's the company that's going to need to be there with the money to help you get your life rebuilt after the worst has happened. It's extremely important to have enough confidence in your insurance company to know that that's going to happen if there is catastrophic damage. And a conversation with your insurance agent is the best way to answer that question.

Frank: Again, give your agent a call, review your policy, and if youd like a second opinion, give us a call at the Insurance Center of Central Florida. Our number is below.

How to Insure: Recreational Vehicles, 4 Wheelers, Dirt Bikes and Golf Carts - Homeowners Insurance

Is your Golf Cart, Motor Bike or ATV covered under your Homeowners Policy? Watch here, then log on to www.TheInsuranceCenter.us for complete details.

Kevin: There's quite a few people who like to enjoy their property in ways other than on foot. They do so with golf carts. They do so with recreational vehicles, like you've said. And not only are those items extremely valuable, meaning that if there is damage to the actual golf cart or the recreational vehicle, you're going to want to know that you're going to be able to get coverage for the damage to the vehicle itself, not to mention the liability angle. What happens if you hurt somebody?

Frank: I've got a good story for you. A guy goes to sell his motorcycle. The mother-in-law loaned the money and said I need the money back, so he goes to sell the motorcycle, and the guy comes up in his pickup truck and says, I'd like to take it for a ride. So, he takes it for a ride, goes down the road, the guy never comes back! He calls the police and finds out the truck was stolen. So, the guy stole the truck, stole the motorcycle. When he called he asked if he had any coverage, I said, unfortunately not because it's special coverage for that.

Kevin: Right. It's not safe to assume that because it's at your house, that it's covered. If it's a motorized vehicle of any kind, all-terrain vehicle, golf cart, any of the things that we've just named, you need to make sure that your insurance agent knows that you have that piece of property and that you're concerned about what's going to happen to it if it causes a loss.

Frank: Another big one is golf carts. I see kids all of the time driving down the road, four kids hanging off of the golf cart thinking, man, somebody's going to get hurt. Well, you need special coverage for a golf cart. I don't care about the golf cart. If you lose the golf cart, great, but if somebody gets hurt, you're really going to lose some money. There was a girl, and these were adults, they were driving down the road. She was hanging out trying to take a picture. She fell, and she hit her head. It was a bad fall, and she got seriously hurt, and she actually had brain damage. Now, if it's your child driving some other little boy down the street, they take you to court, you could lose everything you have just because you didn't spend a little bit of money to get golf cart insurance. Again, give your agent a call, review your policy, and if youd like a second opinion, give us a call at the Insurance Center of Central Florida. Our number is below.

Ordinance and Laws Coverage - Homeowners Insurance Melbourne, Florida

Frank: I want to talk about a couple of coverages that are sort of particular to Florida and that you really need to address, especially with the hurricanes. Kevin's going to start us with law and ordinance.

Kevin: There's a coverage under your homeowners policy that's called law and ordinance or ordinance and law coverage, and what it that does is provides additional funds under your policy to cover the increased cost of construction to your home because of an ordinance or a law, not because of any direct damage. And what I mean by that is, for example, if you live in Brevard County, if you suffer damage to the framing of your window after a hurricane as is very common, as is very common that happens. The current building code says that when you rebuild that property, those windows have to be built to a certain strength, and there also have to be shutters involved.

Frank: Either impact glass or shutters.

Kevin: And when you think about Hurricane Andrew when it happened in the early '90s down in the Homestead area, because of the catastrophic damage like nothing anybody had ever seen before from a hurricane -- catastrophic damage -- you've got local authorities coming out playing damage control trying to convince people, hey, we are not going to let this happen again. Something this terrible will never happen again. The way they so that is they start to enforce new building codes. For example, improvements to the roof-to-wall connections, changes in the elevation requirements for a home that is too close to the water, changes in the elevation. Items such as that are going to cost more money when you have your house repaired or have your house rebuilt. And because those costs had nothing to do with the way your house was before the loss, your homeowner's policy doesn't owe you anything for that unless you have enough insurance under the ordinance and law part of the policy. That's why it is important to talk to the agent to know exactly what the codes are in your area and how they could impact the rebuilding of your house after it's damaged.

Frank: Even now, last October, they passed a law that if you put a new roof on, you have to have a secondary water-resistant barrier. So, if those shingles blow off, there's another layer to protect you before the house leaks, and typically, that's like a peal-and-stick foam rubber that they lay down that covers all the cracks, and a lot of times, they do the whole roof. So, if your shingles blow off, your roof won't leak. That's the biggest problem. You're going to get water damage. So, those codes change. Take your roof. I think it's about $2,000 more per year to do that. So, the insurance company that you have, if your roof blow off, call the insurance company and say, hey, listen, the roof was $8,000 to replace it, well, now I need this barrier. Well, hey, without this law and ordinance coverage, they wouldn't pay the $2,000. Law and ordinance insures that you get that $2,000. So, you do want to make sure you have that. Keep in mind that it comes in different levels. Some policies give you 10% of the value of the house. Again, if you have a $100,000 house, 10% is $10,000. You could by 25%, which would be -- on a $100,000 house -- it would be $25,000. Again, you could go to 50%, which would be $50,000 on a $100,000 house. What you want to do, though, is at least make sure you know where you stand. Don't just ignore it, put your head in the sand and say, ahh, this will never happen to me. This is Florida. We have fires, we have hurricanes. So, these things do happen, so you want to pay attention to it.

Uninsured Motorist!!! Florida Auto Insurance - Melbourne FL

Hi, I'm Frank Hanrahan from the Insurance Center of Central Florida. If there's one insurance tip I can give you, this is it. A lot of people have motorcycles now, and the big problem with motorcycles is it's not us having an accident, it's the person that hits us in a car that didn't see us. And we can get severe injuries. We can have high medical bills, lost wages, pain and suffering. The way you could insure yourself is, you could buy Uninsured Motorists on your motorcycle policy. However, the insurance companies realize there's some very high claims on this, and their premium is correspondingly high. But there's another way we can do it. We can add Uninsured Motorists to our auto policy, and then have it stacked, and that's the key term "stacked." You want to make sure it's stacked, and then our auto policy will also respond and pay in the event of a loss. I know this is a little bit confusing, but it's very important, and I'd really suggest you do this. Either contact your agent or call us at 1-800-659-0986 or look us up on the web. Thank you.

Florida Homeowners Insurance - Pets? How to insure and why?

Check with your Florida Insurance agent before bringing a pet home. Some dogs and other animals are not covered by your liability policy. Call The InsuranceCenter at 800-659-0986 for complete details.



Hi, I'm Frank Hanrahan from the Insurance Center here to give you a tip on pet insurance. Most people or most families in the United States have some form of animal, a dog, a cat. However, we would suggest that before you get a pet, that you contact your insurance agent and make sure it's an acceptable breed of animal. A lot of insurance companies do not like Pit Bulls, Rottweilers, Dobermans, German Shepherds, Akitas, for the fear of the biting history. So before you get an animal, please call your agent or give us a call at 1-800-659-0986 or look us up on the web. Thank you.

Rental Car Insurance - Car Rental Collision Waiver Melbourne, Florida

Frank: One of the big questions we always get that people want to know is when I rent a car, do I need to buy the collision waiver, the insurance that the car company is offering. And Kevin's going to tell us about that.

Kevin: Well, that's a question that everybody likes to ask because when you're there, you always hear the spiel from the kid behind the counter, and they make it sound like this wonderful product. People always want to know, should I pay for that? Should I pay that daily charge, which has increased significantly over the years.

Frank: what, about $15 to $20 a day?

Kevin: Oh, it can range from $15, and I've seen it as high as $30 a day. The reason why purchasing that warranty -- because it's not an insurance product, it's a warranty product -- from the rental agency is a good idea is because when you sign that contract when you rent the car, you're taking a lot of liability on yourself that you may or may not realize. And part of that liability is you're guaranteeing the rental agency if something happens to that car, you're going to take responsibility for it. Now, if you damage the car in an accident, you may be able to file a claim against your current auto insurance company, and they may help you pay for it depending on what type of auto insurance you have. But other reasons why you may want to buy the waiver is because if you damage the rental car, you can call the rental agency, you can call the 800-number, they'll come and get the car. Some of them will bring you another one. You don't have to make a claim against your auto insurance. You don't have to pay a deductible, which you will have to pay if there's a claim against your auto insurance. Some deductibles can be as high a $1,000 depending on the damage. You can relieve that responsibility, and it will also cover the rental agency's loss of income from them not being able to rent that car for a week or for two weeks or for longer because they can't put it on the road because you broke it. So, for people who ask, should I buy this? If you have auto insurance, there's a good chance your insurance company might pay to fix the damage to that rented car. What most of them will not pay for is any loss of income to the rental agency, which can be substantial. You're going to have to pay a deductible, which is an out-of-pocket expense to you, and it's going to be a claim against your auto insurance policy, which means your auto insurance might get more expensive or even non-renewed. So, when you're thinking whether or not it's a good deal, if you remember those factors, it might help you make the decision.

Frank: We had a guy, he rented a car in Alaska, and he brought it back, parked it, put the keys in the thing. About four months later, he gets a letter that says, hey, you wrecked our car. And he had to go back and forth arguing with them saying, hey , I didn't wreck your car; who says it didn't happen I dropped it off? I think he ended up paying a deductible and having his company pay it. But again, they were charging him for days off that he had to pay out of pocket as well.

Kevin: Right, absolutely. And another thing to remember is it all depends on the rental agreement. The details that I can tell you from this desk are what I know from a few examples from national rental agencies, but there's rental agencies out there that might have agreements that ask for a tremendous amount of information that I haven't even discussed. So, it's always a good idea to read the rental agreement. And if there's any question at all about what coverage you might have under your auto insurance policy for a rented vehicle, you'll want to give your insurance agent a call.

Frank: Again, give your agent a call, review your policy, and if youd like a second opinion, give us a call at the Insurance Center of Central Florida. Our number is below.

http://www.theinsurancecenter.us/

for details or call us at 800-659-0986