Once you have a shiny new (or pre-owned) car, one of the essential steps to getting on the road safely is selecting the right type of car insurance. Many drivers we talk to are not always aware that you can choose a policy that needs to be renewed annually or semi-annually, and there are different elements to consider with either type. You’ll feel confident knowing you are fully-covered for the challenges of everyday driving, and that a live agent will be on the line courtesy of us here at Alexander Insurance to assist you if needed. 

6^th Month Car Insurance 101:

As you are shopping in person or online for the ideal car insurance policy, insurance companies will give you a quote for a six-month period. One of the reasons that this is beneficial for the provider is that after a six-month period there is a chance to re-evaluate your risk level, any incidents that occurred during the time period, and determine if the policy needs any adjustment at all. 

During this process, your provider also will look at the all-important statistics in your zip code to determine if your set rates are enough to kick in and aid with a claim’s payout. Lower claims may result in you benefiting from a lower rate when you renew, or a rebate if you are an existing policyholder. A six-month car insurance policy allows you as the driver some flexibility, but may result in your rates changing a bit more often. 

When you receive the quote for a six-month car insurance policy, some of the typical factors such as your age, gender, driving record, insurance history, location and vehicle type and type of coverage you are looking for all are deciding factors. When the six months is almost up, your provider will contact you with a renewal offer that could be more or less than your original policy depending on these variables. 

Decision Domain: Evaluating Pros and Cons

Before you pack your day or weekend bag, find the perfect tunes for the ride, and hit the ignition, making sure that you have the ideal coverage for your needs will give you the confidence to get behind the wheel and assault your hectic to-do list. Here are a few of the pros and cons to keep in mind when you are getting ready to make the choice on a policy that is ideal for your driving habits and lifestyle

Pros of a 6-Month Auto Policy:

• The Flexible Option: Since these types of policies are renewed more often, they tend to offer some much-appreciated breathing room. If you have a past ticket that has finally fallen off your record, you will see savings almost immediately.
• Navigating Your Needs List: if you expect the items you need from a driver’s policy to be changing frequently, you will enjoy the chance to look at things every six months and closely examine various changes that could benefit you and save you money.
• The Appeal of Greener Grass: If you choose an auto insurance policy with just this 6-month term, you can switch companies a bit easier if you are unsatisfied. The 6-month policy allows you to not be situated for the entire year if issues arise that cause you to be on the hunt once again for better coverage. 

Cons of a 6-Month Auto Policy:

• Potential For Sudden Increase: the purchase of a 12-month policy allows you to lock in the rate for that duration, but you could face a rate increase sooner with the 6-month option. The good news is that if you don’t get any tickets you could forge ahead with the same favorable rate.
• Absent-Minded Syndrome: With a policy spanning a bit shorter of a time period, you could be more likely to accidentally forget when you have a renewal date or miss a payment. No need to worry! At Alexander Insurance we’ll contact you to give you a virtual sticky note when life gets demanding.
• The Discount Shuffle: if you lose the potential to retain a discount after your policy renews, a 6-month policy means that you could miss out a bit sooner. Locking in rates is always advantageous, but if you are working a temporary job or just don’t know how long you’ll stick around, 6-month rates can be very ideal. 

Here at Alexander Insurance Agency of St Charles, we are constantly doing in-depth research to assure that your coverage fits your needs perfectly. After you make the choice to have us as your insurance experts, we guarantee prompt service, longstanding satisfaction, and options to go above and beyond your expectations! 

As various types of business are seeing drastic improvements this summer compared to last, there has been much cause for celebration. It always feels great to look at monthly reports, see things ticking upward, and sense true stability during a long-awaited resurgence. As various entities take a look back at the year behind us, there are many questions about the potential for protection against loss if they find themselves unable to operate in the future.

While you are taking a close look at different types of Business Interruption Insurance, important questions should be asked about the coverage of financial loss if you find yourself in a situation where it is not possible to keep the doors open and checkouts humming. This ultimately depends on what the terms of the policy are, and how they are interpreted by the courts. Business Interruption Insurance is now widely considered a routine practice, as the future could remain uncertain.

What Exactly Can You Count on Being Covered?

This very unique type of insurance policy can help a business remain afloat if it is forced to temporarily cease operating. They provide income replacement that you can apply to day-to-day operating expenses and overhead costs until the time comes to begin operating again. Currently, around 40% of business owners hold some form of this coverage. Typical candidates for this type of policy are usually businesses that average around 100 employees or less, and about $5 million in annual revenue. 

What an owner finding themselves under sudden duress can expect to see covered is property, liability, and business income. You will benefit from coverage that results in losses from damage to your business property, as well as personal liability claims against you if you temporarily are shut down. During these days of rising uncertainty, you can expect to be covered from damage caused by riots, vandalism, or civil unrest, with some policies not providing this benefit. 

When a Pandemic Comes Into Play:

Last year when the entire world unexpectedly dealt with the arrival of the COVID-19 virus, more than half of businesses were not expected to be able to bounce back and open their doors again. It’s important to note that your business interruption insurance will only cover the past year’s losses (caused by the virus) if your policy specifically lists coverage for pandemics.

Now is the time to set up a detailed review of your policy holdings with Alexander Insurance. We can also provide information about whether or not your state has legislation that will retroactively apply coverage for the period during which your business was affected, even if it was a government-mandated shutdown. Here is where the food and hospitality industries are particularly vulnerable and could suffer at a moment’s notice. If you are covered, the next step involves providing details about the extent of your losses, along with documents that clearly provide a snapshot of how much you lost due to being shut down. 

Bring in The Experts For The Final Word:

If you have not already done so, now could be an opportune time to consider Business Interruption Insurance. All of us at Alexander Insurance Agency of St. Charles can keep you updated frequently on legislative changes, and review your current policies to see if you will be prepared if recovery from the pandemic takes a few steps back. When it comes to profit loss decisions, it can affect your ability to triumphantly open your doors once again, and that’s why we are here for you: scrutinizing every detail will allow you to be confident in the utmost even during uncertainty!