18Apr

Many people nationwide have chosen to rent lately, and the term defines anyone residing in a home owned by another individual. If this is your case, renters insurance is a good idea, as it gives you financial protection against many risks that may be out of your control. Your landlord’s property insurance does not protect your personal possessions or your personal liability and does not pay for you to reside somewhere else if your place of residence becomes damaged.

Renters Insurance Defined:

Renters insurance is a more commonly used term for what experts such as us here at the Alexander Insurance Agency categorize an HO-4 insurance coverage type. The coverage depends on what state you live in, where you buy your policy, and which optional features you select. Its primary positive function is to help you get back on your feet after an event that is covered takes place, as we as your carrier pay out your claim based on the coverage you possess. You can protect yourself against events such as fire, lightning, vandalism, smoke, windstorms, hail, aircraft, ice, and theft.

What are Typical Costs?

In our experience, we have seen renters insurance cost around $180 annually, or anywhere from $12-$18 per month. Here are some of the elements that affect this:

  • Where you reside
  • The limits of your policy
  • Your deductible
  • More than average expensive items you may need coverage for, such as home entertainment systems

For the peace of mind it provides, renters insurance is really not that expensive: almost anyone from various economic walks of life can afford a nominal amount of coverage. A higher deductible will give you a lower premium, and a lower deductible will yield you a higher premium. If you have good credit, you will likely have a good insurance score, if you have not filed a huge amount of claims in the past. The insurance score is used to evaluate risk and determine what your premiums will be.

What Items are Covered Under Renters Insurance?

Common Renters Insurance Coverage:

  • Personal Property: This covers damage or destruction to your belongings, such as kitchen appliances, furniture, and jewelry.
  • Loss of Use: This will cover reasonable extra costs for you to live somewhere else while your landlord repairs or rebuilds your home after incurring a type of loss that is covered.
  • Personal Liability: Covers legal defense hurdles and other financial damages if you are sued for an accident or bodily harm that takes place at a location you are renting. 
  • Medical Payments: Covers the injured party’s medical expenses if someone encounters an unexpected injury at a location being rented. 

Optional Renters Insurance Coverage:

  • Replacement cost coverage: a very basic renters policy may just provide actual cash value coverage for possessions. If you have something such as an item of furniture that burns up, you’ll be needing to purchase a used one unless you have replacement cost coverage.
  • Scheduled personal property: Some of the more standard forms of renters policy may not be there to kick in and cover items such as your $8,000 electric guitar. When you happen to own items of higher-than-average value, ask your insurer about insuring them through an additional endorsement of policy.
  • Identity Theft Coverage: This can be a very catastrophic experience, and some renters policies will reimburse you for expenses you may incur if a thief steals your identity. Not to be overlooked, this can prevent you from VERY frustrating occurrences!
  • Liability for Pets: While this coverage is often fairly standard, it should be double-checked if you’re a pet owner. It if does not cover liability for things such as a neighboring child being bitten, you may want to opt for different coverage. Sometimes the limits are not very high, which could lead you to want to switch coverage types.

What Renters Insurance may not Cover:

  • The Structure: Landlord insurance will cover the structure of the home. If an appliance accidentally starts a fire and burns the entire place down, renters insurance covers your possessions and your personal liability. The landlord’s insurer will pay to completely rebuild the place, but you’ll want liability coverage in case you encounter being sued for damages.
  • Flooding: Unfortunately, damage from flooding is usually covered under a separate flood insurance policy for financial protection against intense water damage. The events of the past few years have reminded many just how quickly these problems can arise and wreak havoc on your well-being.
  • Earthquakes: Unfortunately, this type of very intense damage is not covered under renters insurance. A completely separate policy or earthquake endorsement will help with this, depending on what’s typically scheduled for coverage in Missouri.
  • Pests: Mice, roaches, ants, bedbugs, termites, and all sorts of other critters will rear their head and become a huge problem, and some of them are tougher to get rid of than others. Renters insurance does NOT cover damages from these elements, so you’ll have to be diligent about asking your landlord to fix them on the double.
  • Possessions Belonging to Roommates: Even though your roommate may very diligently be attempting to get ahold of your Netflix password, but they may have to purchase their own renters insurance policy to cover their belongings in case of a disaster. If your roommate does end up becoming your spouse, it gets much easier to quickly add them to your policy, exchange vows, and let the future memories along with good times roll!

How do I get a Rapid Renters Insurance Quote? The best way to go about this is to gather the most basic information first and remain organized. Details such as the property address, your marital status, and whether you have pets on the property are all pertinent. Then, you will want to find out just how much renters insurance your landlord may require you to carry, and buy as much as you can. After taking a sensible home inventory of all your belongings, it always makes sense to carry a heightened amount of coverage, because if the worst possible scenario happens, you’ll want the most in available protection.

Some of the additional coverage types you may desire could include things such as earthquake damage, expensive sound and lighting gear for a mobile business, or coverage that helps with very valuable items you may have in your garage. When you have applied with several insurance companies to see who offers the best coverage for the price, we hope that you find US as your provider: We will consistently go to bat for you, have your best interest In mind, and find renters insurance solutions that ultimately do right by you and your valuable property.

11Apr

Once you have purchased your home and are comfortably enjoying residing in the place where you’ll build many future dreams, it’s time to start wondering about what your home insurance covers in case of calamity. The basic homeowner’s insurance policy that you’ll have in place through us here at the Alexander Insurance Agency covers a variety of things that could happen, including:

  • Fires
  • Hurricanes
  • Lightning
  • Tornado activity
  • Frigid cold
  • Various explosions
  • Volcanoes

Most very common instances of peril are covered, but additional coverage can be needed to protect against tragic events such as earthquakes or floods. There is nothing as sound and calming as the peace of mind you’ll experience when you know that unforeseen events that can surprise you will be covered, and you won’t have to endure the headache of wondering whether you’ll prevail and be financially able to recover from the pain. Here are details on some things that occur and your risk level on each:

Tornadoes: A very common and still very dangerous occurrence in the spring and fall each year, these twisters can rear their ugly head in all 50 states. Your personal belongings and your home are covered by homeowners’ insurance in the event of a tornado, fully including wind, rain, and damage by any debris. You’re covered up to the limits of your policy, but flood damage may not be included unless you also have flood insurance.

Hurricanes: Your basic homeowners’ policy will kick in and cover the damage seen from wind throughout the U.S, but policyholders in areas that are extra prone will need to pay a deductible for hurricane and wind damage before the insurance policy does its job by kicking in. Even though hurricanes provide a massive amount of downpour, flood coverage and additional wind coverage should be considered, as these additional events are likely once a hurricane strikes.

There are now some moratoriums in place that prevent policy updates during the storm season, or after a storm bears an official name. It’s always best to make sure that you have adequate coverage before the storm season arrives. Your policy will provide specific details on whether it covers dwellings, personal property, or the benefit of additional living expenses.

Fire Protection: Fire damage is covered by home insurance, including accidental fires and fires that see their origin due to unfortunate natural disasters. Damage from intentional fires or those that come about as a result of gross negligence is naturally excluded from your policy’s coverage. Most typical home insurance policies will pay out for dwelling, personal property, liability, and additional living expenses, as you must read in-depth your policy’s details to determine exactly what’s covered and ensure the limit is large enough to provide what’s needed for your entire home and personal property. 26% of fires occur in residential homes, so all of us looking for the most ideal policy for you here at Alexander Insurance realize that fire prevention is needed as a top priority in any Missouri home.

Lightning: A standard homeowner’s policy will cover what is needed regarding lighting strikes, as well as resulting fire that may incur serious potential damage on your home and prized possessions. Each of these ways that lightning may damage your home may be treated a bit differently by your coverage provider. 

  • Direct Strikes: these are the dangerous bolts that cause the most damage, yet also prove to be the easiest to resolve with your provider.
  • Near Misses: this is when a lightning strike misses your home but still causes a grave amount of damage. In this instance, your provider just has to be certain that the damage is not from an electrical source like a transformer, and certainly from the strike of lightning that took place on said property.
  • A Ground Surge: This is the powerful and unpredictable spike of electricity that is caused by lightning, and is the most frequent claim filed. These can be a bit tougher to have solid evidence of and collect your desired payout.

Bitter Temperatures: Your regular home insurance policy will cover personal property, dwelling, and liability claims after you endure any of these situations: 

  • Frozen pipes
  • Damage to your roof from ice
  • An injury due to slipping and falling on your property

When pipes freeze, there is a significant amount of water damage that can arise on both your home and property, but the good news is that you can take action to prevent them! If your insurance provider determines that it was a lack of basic maintenance that caused the pipe to freeze, they may not fulfill the due diligence to cover damages. The eventual accumulation of snow and ice always wreaks havoc on your roof and gutters, but is often covered by your basic homeowner’s policy. Here in Missouri, we definitely live in a climate that dishes out its fair share of harsh winter weather, and we can provide you with many different ways to protect yourself.

Sudden Explosions: home explosions happen to be very rare, but your home, entire array of personal property and additional living expenses are all covered in case this happens to you. This may happen due to a gas leak, or the damage may come from a nearby explosion from another business or home. As long as the explosion was not set in place on purpose, you’ll have coverage under your homeowner’s policy.

The Importance of Constantly Being Prepared: Having multiple plans in place and being prepared for a disaster is your best bet against serious injury or loss in case anything bad happens. If you happen to live in a high-risk area, you need to take extra precautions for your structure and your loved ones’ well-being. It is always advisable to have water, nonperishable food items, fully-charged phones, and first aid kits on hand in case anything unexpected happens. 

We can advise you regarding the best coverage for your home, and you can talk with your friends and family extensively about your emergency plan. It’s best to know just how and when to evacuate, a list of safe locations, a source for emergency alerts, and making sure you take inventory of what is weatherproofed and ready to survive the storm. Items like nonperishable food and a flashlight are also necessary, as they can keep you safe when the inclement weather hits and assure that you have some means to safely weather the storm. We can assure that you have the best policy to provide for anything a homeowner would endure as far as inclement weather, and make sure that you are holding the coverage that keeps your belongings and best-loved safely at bay and accounted for!

04Apr

Once there is a death in your family, survivors are many times undergoing the task of sorting through assets and liabilities of the deceased, while they are still in the process of understandable grief from the loss. The purchase of life insurance from us here at the Alexander Insurance Agency can take away the burden of estate planning by offering financial support to family members and the all-important task of covering important business assets. After you make the decision to buy life insurance, it is important to think about your needs and circumstances and make sure that you have answers to some very basic questions about how much you need and the varieties of coverage out there. 

Here are some of the ways that life insurance can help with the task of estate planning, and ease the burden when certain perils and pitfalls may come your way.

Estate Taxes Payment: One of the most opportune ways to pay for estate taxes is by possessing a life insurance policy. Typical Federal estate tax applies to the gross estate of anyone deceased, and must be paid within nine months after any official owner’s loss of life. What do CPAs and attorneys everywhere see as a strong point regarding this action? Proceeds of life insurance are frequently free of taxation.

Functional and Full Coverage of Business Assets: Making the choice of Universal Life Insurance allows you to access an investment savings component, and even make the choice to borrow the cash value as a cushion in case you have unforeseen financial trouble along the way. Buy-sell agreements are the checks and balances set in place to set prices and terms that surviving partners need to follow to purchase the shares of the leaving or soon deceased spouse. Surviving owners will receive death benefits, and your family will see your payment for your vested interest in a company. 

The Longstanding Fruition of Faster Payouts: Any expense related to the death of an individual may include debts, taxes, and extensive costs for a proper burial. Properly liquidating assets can take time, but the Death Benefit of a life insurance policy can be claimed immediately, which makes it useful for paying out expenses and downplaying the financial burden of sudden death on your loved ones and family. 

Equalization of the Estate: if there are more than one heirs to any estate, there are a few different complications you may face. It may be difficult to split up assets, and certain cases may come up when breaking up an estate that can reduce its ability to generate positive revenue. Life insurance can be used to properly equalize estate inheritance, wherein one heir may receive property while another may receive the death benefit proceeds regarding the insurance policy.

Game-Changing Planning for the Future: As the owner of a policy, you will have the option to choose how the proceeds of your insurance is going to be used. You can continue supporting a loved one after you pass away, which is useful for seniors, minors, and others who may need to continue alimony or child support payments. With the institution of a fully-fledged trust, you can hold assets on behalf of your beneficiary under the constant supervision of a legal trustee.

How do I Choose the Life Insurance Policy That’s Right for Me? Before you go through with a decision this important, you need to think about the answers to a few basic questions. Using these as guidelines will guide you through the choices of preparing to provide for the ones you love if anything were to happen to you.

  • Calculate the Optimum Coverage Needed: it is important to consider your yearly income, assets, expenses, and the total amount you owe. A form of coverage that provides ten times the salary you draw is a good place to start, and could be useful for nearly anyone. As the post-recession landscape has changed, it is helpful to include all outstanding debts when completing the calculations that show you how much coverage you need.
  • Deciding Which Type Fits Your Needs: If you opt for Term Life Insurance, your loved ones will receive a simple death benefit payout. This “specified term” only covers a certain number of years, but if you happen to outlive the term, the said payment will not be distributed. Permanent life insurance includes Universal Life Insurance and Whole Life Insurance, and lasts a lifetime. 
  • A Close Comparison of Insurance Providers and Their Prices: Payouts usually happen during the times in your life that are the most stressful and having a reliable provider can help your loved ones have an experience without any difficulty. The best practice is to compare personalized quotes from at least 3 different providers such as us, and check the customer service ratings of insurers if at all possible.
  • Be Fully Educated on Every Detail Within the Application: Once you find the right insurer for you, it’s time to move forward to the application process. Ask ahead of time if there are documents that you need to prepare, and what basic personal information you need to provide. Depending on the type of policy you choose, you may also need to see a medical professional for a detailed screening of your health.
  • Select your Ideal Beneficiaries: The beneficiary of your policy can be a person or an organization, and your insurance provider will tell you what vital information is needed. Social Security numbers and tax ID numbers are usually a mandatory addition, and if you plan on naming a minor or disabled child, it can be wise to leave the entire cash value to a trust. 

Is an Irrevocable Life Insurance Trust Ideal for Your Needs? If you are looking to use life insurance as a strong anchor in your estate planning, an irrevocable life insurance trust can help with controlling either a term or permanent insurance policy while said policy owner is still living. By these means, you can transfer your policy to the trust or use it to purchase life insurance, which means the trust sees ownership of your insurance policy. This trust document will determine who will have full control of the assets, designate beneficiaries and establish terms on how the beneficiaries will be able to receive their benefits. 

An Irrevocable Life Insurance Trust will swiftly remove a life insurance policy from your estate’s holdings, aiding you in getting rid of estate tax liabilities on assets that do not qualify for a charitable or marital deduction. It also can help with the allocation of any proceeds upon the death of the insured by quickly offering up the liquidity factor for the decedent’s estate and beneficiaries. The Benefits of Irrevocable Life Insurance Trust: Our experienced agents here at the Alexander Insurance Agency think that this is a great option if you want to set aside certain assets for specific purposes, but you may be responsible for paying gift taxes if any beneficiary withdraws themselves from a trust. This actually ensures that your heirs will get more funds, and will lower federal state taxes since the proceeds will be excluded from your total of the gross taxable estate. You will also be allowed to determine just how insurance proceeds will be paid out, and not be able to make any changes after a formal agreement has been signed and executed.

28Mar

So much can happen to your home over the course of a year. You may have made additions such as skylights and back decks that boosted your value, or maybe suffered a natural disaster that has affected your premiums and living quality. Whatever the reason may be, you may be currently realizing that the homeowner’s insurance policy you had a year ago is no longer the appropriate fit for you.

Doing in-depth research on home insurance is necessary to make sure that you don’t spend too much for coverage that you may not ultimately need, but you still don’t want to risk your home suffering the peril of under coverage. Lower-income households now place a much higher level of importance on a positive user experience, while higher-income households place greater value on an Insurance Company’s collective financial rating. Homeowners now need greater flexibility in both their coverage and how much they pay.

Important Elements to Consider While Exploring Your Options: 

Every homeowner should be thoroughly shopping around, comparing quotes, coverage offerings, and researching the long-term financial stability of their provider. A yearly checkup of your policy coverage can let you know what you need for coverage so you don’t end up without any at all. Here are some valuable tips that will ensure you are getting the most out of your homeowners insurance for 2022.

Closely Review Your Current Policy:

The number one goal of homeowners insurance is to help you rebuild or replace your home if it’s damaged. If you have chosen to undergo renovations or improvements last year that increased your home value, your limits should be closely looked over and increased to reflect the change. The final cost to completely rebuild should also consider the cost of all materials along with labor. You should also make sure that your home inventory list is updated so your limits are high enough to completely cover replacement costs. 

Look at Your Add-On Rider Coverage: 

If you happen to reside in an area where natural disasters are common, you may need extra coverage. Unless homeowners live in a designated flood zone, they are not required to possess flood insurance. But there has recently been a strange exception to the rule: over the past year, the majority of flood claims were from people that did not live in flood zones, and did not have coverage under homeowner’s insurance. 

Think About Combining Multiple Policies:

Homeowners insurance offers several add-on coverages like special jewelry and pet insurance so you can enjoy the benefit of not having multiple separate policies. One of the most important conversations we can have with you is figuring out what optional coverage is out there and figuring out what different types of riders could cut your monthly costs. Many homes have added a pet to their family, and this makes us happy as they are great at relieving stress and promoting well-being!

Missouri’s Penchant For Weatherproofing Prep: 

During cold, harsh winters, homeowners can suffer massive damage from ice and snow. Personal liability claims can frequently gain more attention during these months too, as it is the homeowner’s responsibility to effectively clear ice and snow from sidewalks and driveways. Sometimes when you first move in, small but important details like this can fall by the wayside.

Making Sure that Home Maintenance is Priority #1:

One of the most important aspects of owning a home is making sure you keep up on routine maintenance. Many issues could be much easier to fix if they were caught on time rather than accumulating into much more time-consuming problems later. Tasks such as putting wire mesh properly over vents and plugging up any holes in your house with steel wool can keep out pesky rodents that are always on the hunt to make your place their home. One of the most important things to note about homeowner’s insurance is that it does not cover inclement damage caused by insects or rodents, which can both slowly take their toll on your structure’s longevity.

Which Provider Will Ultimately Win Your Business?

You may have realized that a competitive price does not necessarily mean you will be satisfied with the customer service and your overall experience. The average cost for homeowners insurance will vary based on the state you live in and whether your home is categorized as rural or urban. If you have made a claim and were satisfied with the speed, accuracy, and due diligence, then it bodes well to stay with your current provider. 

Have you been looking for an insurance provider with better service, attention to detail, and understanding of what it takes to navigate your everyday life? Everyone here at Alexander Insurance is educated and ready to provide an experience that surpasses your expectations!

25Mar

The All-Important Provisions of Your Record: States like Missouri use a point system to keep tabs on violations, and as the offense gets more serious, so do the number of points on your license. Inevitable suspension occurs if you have too many points on your license, and once the record sees points added, premiums can be more costly. If you can keep your driving record clean, it will help you with a substantial amount of savings on your insurance rate. 

What Makes for a Clean Record? A clean driving record means that a driver has no violations or accidents on their record. Some insurance companies raise the premiums for drivers who are unlucky enough to commit one small infraction. Other insurance companies will consider a driving record to be completely clean even if a driver has just one or two minor moving violations over the past three years or more. If you are not paying your fines, filing multiple claims, and missing court appearances, your driving record will be affected. You can appeal to your local DMV to get a copy of your official motor vehicle summary from your current insurance company.

Is it Possible to Get a Questionable Driving Record Cleared? The best way to prevent yourself from accumulating enough points to yield a bad record is to obey traffic laws and drive responsibly. However, there are other ways you can get your clean driving record back! You can choose to appear in court to contest your citations if you feel you are in any way wrongly charged. 

Even though this is a common practice, you should consider contesting even the most minor infraction to avoid paying more in premiums. Expungement is another method that can effectively clean your record by removing a traffic violation for good. You may have to meet specific criteria to qualify, which also can differ from state to state. Many drivers can take advantage of this process to help them with a completely fresh start when they need it most!

How Far Back Can Insurance Providers Go to Check Records? Moving violations and accidents are usually listed for around three to five years. Once something is on your driving record, it can be hard to ignore the consequences. Alexander Insurance Agency of St Charles is a provider of home, health, life, and auto insurance quotes that always keep the client in mind as our first priority while finding you coverage. 

Our best advice for any driver looking to keep a clean record is to drive the speed limit! These are the tickets that slowly add points on your license. A clean driving record will always help save a substantial amount on your rates and clear the path for lower premiums.

23Mar

The current real estate market has been pushing many to rent lately. When you finally locate an apartment you love then learn that your renter’s insurance premium is going up a bit, and tends to make a renter ask questions. When a property owner requires that tenants carry insurance, they are protecting themselves from shelling out massive damage recoupment in case of natural disaster, fire, or robbery. 

Taking Inventory: Much like homeowner’s insurance, renter’s insurance provides protection from various disasters that can have grave effects on your home, and will speed up the process of replacing valuables and getting your money back after anything treacherous happens. Even if your lease does not require it, insurance for rented homes is a great comfort to have, because without it, rental homes and their leaseholders can be left vulnerable.

The Property Owner’s Policy: The Property Owner’s insurance policy may not completely pay out for the tenant’s loss of property if a catastrophic event occurs. If everything you own now were to be damaged or destroyed, it could prove difficult to find the means to replace it. Even if the sweet apartment you have just found does not have a lease that requires insurance, you should opt to protect your rental. 

The Coverage Provided for Your Valued Property: Homeowner’s insurance will cover repair and replacement of the building, grounds, and contents of a home if they are stolen or damaged. Renter’s insurance covers the contents of the apartment or rented house, with the actual property owner carrying a commercial insurance policy to cover the structure and a home warranty to cover the working appliances and systems within. 

Renter’s insurance will cover the damage or destruction of your personal items when they are ruined from unpredictable elements such as fires, wind damage, explosions, smoke damage, collapse, theft, vandalism, and damage from burst pipes. You will need to pay an annual premium depending on how much coverage you need, which is based on the quality of goods you own and other factors such as your apartment’s square footage.

What Kind of Benefits does Supplementary Coverage Offer? Since identity theft has become such a common occurrence, it is comforting to know that renter’s insurance in most cases will cover credit card fraud and check forgery, so if a thief tries to use your cards, you are not liable. This benefit is well worth it, as the cost to hire an attorney to combat identity theft and credit use can be astronomical. Many policies will also cover items that may not belong to you but were damaged in a covered event.

Another huge cost that is not always considered is hauling away debris, as fires, fallen trees, and violently burst pipes can leave behind a huge damage bill. If you must remove your personal items this cost may be up to you, and it can be a dangerous task during an all-out disaster. Renters insurance will cover the cost of hiring a professional to haul away any debris. 

Are There Other Events I May Want to Add to My Policy? All insurance policies have certain limits to their coverage, but you can sometimes increase the overall limit by being willing to pay a higher premium. You can also choose to add endorsements to cover high-value items like jewelry, musical instruments, or personal artwork. If you live in an area where earthquakes are common, you may want to inquire about insurance for personal property loss that can be added to your policy. These days, many individuals choose to run a small business out of their apartment, and you can ask us at Alexander Insurance Agency about purchasing a separate endorsement for the livelihood of an at-home business.

Reservations with Policies Regarding a Roommate: If you are living with a roommate, your renters insurance policy does not cover them and their property. Most policies will cover one individual or family unit, so each individual tenant needs their own policy to protect their liability and unique belongings. Even if your lease does not formally spell out the need for all renters to have their own policy, you’ll want to maintain separate policies to hinder any rejection of claims and confusion that will take place if a claim ever needs to be filed. 

Talk to us today to see which renter’s policy is right for you! During a harsh buying market, we can assist if you find yourself becoming a renter and needing the best in longstanding protection for your belongings.

04Mar

When brand-new homeowners come to see us here at Alexander Insurance, the first thing we want to do is CONGRATULATE YOU! You now own your own slice of the American dream, and have a long list of responsibilities. The cost of homeowner’s insurance depends on several factors, including your deductible, how much your home is worth, and your belongings inside. Your home’s location and the surrounding environment will affect your risk, and the less risk you encounter, the lower the cost you will incur. 

We have found many ways to save you money when you make the final decision for your homeowner’s coverage. Here are a few tips:

The Large-Sized Benefit From Bundling: 

Homeowner’s insurance is necessary once you sign the dotted line and embark on your new mortgage to make memories. One of the best ways to get a discount is buying more than one policy through the same insurance company, such as homeowners insurance combined with auto insurance. It can be very convenient to have your policies in one place, and you can notice significant savings. We have been paying attention to what customers’ needs have dictated during recent years, and provide an ideal means of multiple offerings. 

The Decision Factor of Your Deductible: 

The deductible is your share of a covered claim. You can select your deductible for property coverage while you are setting up your homeowner’s policy, which is what you will cover if anything goes wrong. For example, you could select a $1,500 deductible that would apply to your dwelling’s coverage, any other structures, and your own personal property. If you opt for a higher deductible, the annual premium for your insurance policy will be lower, and if you have to make a claim to make valuable repairs, you’ll need to provide more out of pocket before your insurance covers the transaction.

Take into Close Consideration the Types of Claims are Being Filed:

Some incidents can’t be helped when a claim must be filed due to weather and other severe damage. What insurance companies do when they are reviewing your claims is take a close look at the claims that have been filed for up to the past 7 years, and you’ll notice a massive amount of savings if you have not filed any claims with the carrier you used for past forms of coverage. Many of the best scenarios stem from those asking for coverage who have either been savvy or lucky enough to not file any claims for roofs, other damage, or even theft. 

The Reality of Risk Reduction’s Good Side:

You can see a healthy decrease in your premium if you take steps to reduce your constant risk like installing an alarm system, deadbolt locks, or anything else to prevent theft and forced entry. If you have an older home and undergo an update to more modern heating and plumbing systems, check with us to see what types of discounts we can provide to make life easier! 

It would be wise to purchase an older home right now, as availability is limited and they can be amazing remodeling projects that teach you how to spruce a home up right. Making sure that an older home is updated in terms of plumbing, heating, and electrical will ultimately aid you in seeing what discounts are available for homeowner’s insurance. 

Fruitful Results From In-Depth Price Comparison:  

Make sure you ask every company you encounter why they are the best and why they provide the rates they do. Checking around with all providers is most definitely in your best interest. 

Homeowner’s insurance is a necessary component of life that will aid you if an act of God or anything else happens during the process of your mortgage term. We have been hard at work for many years figuring out what clients need the most, how to provide the ultimate assistance, and prepping our finely-honed response when disaster strikes. We’ve always been here for our client base, and look forward to many more years of providing you security, a safe haven, and an opportune place to make incredibly valuable memories with those closest to you.

28Feb

When it’s time to go over expenses, we know costs can go up substantially, and every penny counts more now than ever! Having appropriate coverage is intelligent and responsible, but can add drastically to the cost of your monthly car insurance. There are a number of different factors that can have an effect on your monthly bill, and it’s always a good idea to give your coverage a thorough review during renewal time to assure that your auto policy is providing you what you need at a price you can afford!

Experts like us at Alexander Insurance are always looking for ways to make your coverage more reasonable and effective. Here are some of the ways that you can save when it comes time to pay your car insurance premiums!


Consistently Comparison Shop:
Every company offers different rates, so it will always pay to shop around and compare. We think that it’s best to get at least three quotes from different companies: those that offer policies through their own agents, those that sell through independent agents, and those that sell directly to consumers online. It’s always a great idea to ask trusted friends and family for their recommendations based on their experiences, and extensively research the company before you commit.


One thing we pride ourselves on is being there for you when things go wrong, and following through when it’s time to make a claim. The least expensive option is not always the one that’s going to benefit you in the long run, and you are going to want someone reliable to be there for you in the event you need your insurance.


Analyzing Your Costs Before You Make the Car Purchase:
Many insurance premiums are based in part on the car’s price, how much it will cost to fix, its safety record, and the likelihood that it will be stolen. Many insurers offer discounts for high-tech additives that reduce the risk of your car being stolen, personal injuries, or for cars that have stellar safety ratings. When you are out there comparing new or used vehicles to purchase, it is also important to research what each model will cost to insure. The IIHS Highway Safety picks are a great resource for this information!


Think About Raising Your Deductible:
By making the choice to have a higher deductible on your car insurance, you can assure that your premium costs will be lower. As long as you can manage to stay safe on the road, this is a sure-fire means of lowering your expenses when the monthly bills arrive.


Reducing Optional Coverage on a Gently Used Model:
If your car is worth less than 10 times what you are paying for a premium, opting for collision and comprehensive coverage may not be worth it. To determine whether this is worth it for you, simply check the value of your car with excellent and trustworthy resources such as Kelley Blue Book, National Association of Auto Dealers, and TrueCar. When you are behind the wheel of an older model, it can be best to focus on coverage that hovers closer to the minimum.


The Benefits of Bundling Various Forms of Coverage:
Many insurance providers will be happy to give you a discount if you purchase two or more types of insurance, or choose to have more than one vehicle covered. Some companies are happy to offer hefty discounts to customers who have been using their services for a long time.


Keeping in Great Standing With Your Credit:
Keeping up with a great credit history will benefit you by providing much lower costs. Many insurers use in-depth information about your credit history to adjust prices on your policy, and drivers who are great at managing their credit don’t make as many claims. To be positive that you are getting the credit rating you deserve, it’s necessary to check your credit record frequently to assure that it is thoroughly accurate.


Leveraging Low Mileage Discounting:
If you don’t drive as far as some others do, your rates could be reduced. Valuable low mileage discounts can also apply to drivers who make the Earth-friendly choice to carpool to work.


Getting By With a Little Help From Group Rates:
Many companies like us will offer reductions to drivers who obtain insurance through a group plan from their employers, through business charters or other various associations. It’s always a good idea to check with your affiliated organizations to see your available offerings.


Auto insurance is absolutely one of the most crucial needs for everyday life, and all of us here at Alexander Insurance are professionals when it comes to securing the best policy for you at an affordable price. You can drive away knowing that your family is fully protected, and your monthly budget is still intact!

23Feb

Thriving in the insurance business can mean the whole-hearted pursuit of long-term value creation, but the latest climate conditions have dictated that as only partially true. Long-Term Value creation acknowledges that nailing down superior financial returns is how you stay relevant. Part of this mantra includes the creation of products that will meet different customer needs, promoting the long-term wellness of employees, and improving vast coverage availability for those in lower-income communities.


What are the 4 Major Value Pillars at Play?
Insurance companies are now able to create a sustainable long-term value by focusing on doing what’s best for the members of key stakeholder groups. These are the four pillars that top leaders can use to consistently drive growth, employee engagement, and a playing field that will notice long-term profits and valuable loyalty.


Customer Value:
The leading insurance providers in the nation are taking leveraged customer data along with new technologies to find profitable means of expanding coverage for vulnerable segments of the population. New products that fill protection gaps for electric cars, businesses making the switch to low-carbon operating models, or aiding consumers with hospital bills will assist in creating more meaningful customer experiences. One example is an artificial intelligence-driven platform that helps customers with insights into their spending habits and offers recommendations according to the goals they have laid out for themselves.


People Value:
Investing in employees and supporting their personal and career aspirations can greatly boost loyalty and make the company that much more attractive to much-needed talent. Any incentives that will have a positive effect on society will send a message about the insurer’s values that will weigh positively on consumer’s valuable opinions. Turnover has been a gigantic issue over the last two years, and one large insurer that has invested in flexible workplace policies and other ideas that are focused on worker satisfaction helped lower the turnover rate by 2%, a huge improvement to keep valuable employees on board.


Value in Society:
There are many reasons that any insurance company would want to face societal challenges head-on, as the positive result of these duties help fuel economic growth. Climate change and other issues have given incentives for many policyholders to show interest in a company that seeks to constantly improve the well-being of lower-and middle-income consumers by assuring that they can effectively manage debt and increase their important bottom line.


Financial Value:
Pursuing sustainable business models can lead to reduced risks in underwriting, and result in a much more committed and engaged workplace. We have years of experience that will always lead us to finding the best policy for you, but we now are looking to uphold the values, industries, and social change that puts families first and continues to drive a diverse and productive base! We want to meet with you to find the perfect coverage opportunities to meet the challenges 2022 may provide, and allow you to profit, flourish, and enjoy consistent success.

03Jan

When you are shopping for affordable auto insurance, you’ll probably notice how many factors affect your rates. Accidents on record, the make and model you drive, and many other things are considered when preparing a car insurance policy. Forbes studied car insurance rates in relation to credit scores, and they found that those with poor credit usually see an increase of around 76% on their rates. 

How Exactly Are Your Insurance Rates Affected by Poor Credit?

Auto insurance providers frequently cite research that finds credit-based insurance scores are a good way to determine if a driver will need to file claims. The Federal Trade Commission Report has conducted frequent studies that have seemed to verify the fact that a driver’s credit score is correlated with their risk, as delinquent behavior regarding financial matters finds its way into other areas of life.

How Long Do the Effects of Bad Credit Weigh on my Premium? 

Traffic tickets are unique in that they can drop off your driving record and not influence your rates after three to five years, but a bad credit score or bankruptcy can have a more lasting impact on your rates. The best way to keep your credit from affecting your auto insurance premiums is to find ways to raise your credit score. When you see your score go up, see if you can get lower rates. 

Things like bankruptcy can affect your credit score and therefore your rate, but there is still good news! After you complete your filing, your credit score will sometimes jump back up after only 4 months instead of the dreaded five years some people suffer through. Every situation is different, and not all results will be the same.

Is Poor Credit as Bad as Accidents or DUIs on Your Record?

Some providers are intent on increasing your rates due to poor credit more than things like speeding tickets. When you get a speeding ticket, your rates usually rise by about 21%, but having bad credit can rise them about 76% annually. If you have an accident where you are the driver at fault, the average rate increase is around 41%. A DUI is a very serious offense, and it comes with a hefty hike of around 74%. 

Here are some of the ways you can try to obtain decent rates even with credit that has been affected:

Don’t be shy to Ask for Help:

When it comes to your financial livelihood, you can feel good about asking for discounts. You can choose not to have your bills mailed to you or bundle your auto insurance with other options to shave a few extra bucks off your premium cost.

Prove You Are Safe on the Road: 

There is no reason to be leery about having your behavior monitored when you are doing an awesome job behind the wheel! Safe driving monitors can yield you rewards in the long run, and you can enjoy discounts of up to 40% with many providers. Technology has allowed for many ways to check up on drivers to assure that you are following the rules, keeping your speed down, and even how often you drive.

Be Sure You Are Comparison Shopping: 

It is easy to go with the first provider you find, as your search will be over, and you won’t have to do time-consuming comparisons. However, it is best to look around once a year to ensure you are getting the best rate. Some providers may greatly value your credit history, and some may tend to be more lenient while looking at other aspects that allow them to properly cover you. 

At Alexander Insurance, we will always keep you our number one priority and provide world-class coverage during uncertain times. We will always be here when you need us, and we consistently make progress and offer more coverage options with your bottom line and longevity in mind!