Protecting Your Assets for Over a Century

Filing a claim does not automatically change your policy or premium. However, the outcome of the claim and the type of policy you have may affect your premium at renewal time. Here’s what you can expect:

• Policy Coverage: Your coverage remains in place while the claim is being processed, as long as your premium payments are up to date.
• Premium Impact: Depending on the nature and frequency of claims, your premium may increase at your next renewal. Some policies offer claim forgiveness for your first incident, which helps prevent your rate from going up.
• Review Process: Each claim is reviewed individually, and factors like fault, claim amount, and your claims history are considered.

We’re here to help guide you through the process and explain how your specific situation may impact your policy. If you have questions, reach out to our team anytime.

When picking an insurance policy, one of the key choices you’ll make is your deductible—the amount you pay out of pocket before your insurance kicks in. So, what’s better: a higher deductible or a lower one? Let’s break it down.

Higher Deductible

Pros:

• Lower monthly premiums (yay for saving money!)
• Great if you don’t expect to file claims often

Cons:

• You’ll pay more upfront if something does happen

Best for: Folks who are comfortable covering a larger emergency expense and want to save on their monthly insurance costs.

Lower Deductible

Pros:

 

• Less to pay out of pocket when you file a claim
• More peace of mind if you expect to use your insurance more frequently

Cons:

 

• Higher monthly premiums

Best for: Those who prefer more predictable costs and don’t want to worry about a big bill during a stressful time.

• Economic inflation. rising number of claims and increase in frequency of claims.
• Material Costs for repairing damage and labor costs which are impacted by inflation. 
• Advanced safety and complex software also increase repair costs.

These are a few of the many factors that drive auto insurance rates. To offset cost, there are discounts that you may elect or be eligible for that may relieve some of these increases. One of the biggest discounts is to bundle your home and auto policies as well as increase your deductible. Always ask your agent what discounts you qualify for and how you can lower your annual premium. 

• Increase in construction materials and labor costs.
• Increase in frequency and severity of weather events which puts pressure on the material and labor availability.

 

We strongly suggest that you and your agent review your homeowner’s policy annually to ensure that your limits provide you with adequate coverage.  A review of your policy will also provide your agent with information regarding any upgrades to your roof, heating system or installation of security devices, water shut-off system or other changes that have been made to your home.  This may provide you with a lower annual rate.  Consider bundling your home and auto policies which will provide you with a discount. 

Increase your deductible! 

Requesting higher deductibles can lower your costs substantially for your home or auto policy. For example, increasing your deductible for your auto from $500 to $1000 could possibly reduce your cost 15 to 30 percent.  Speak with your agent, who can provide you with various deductible options. 

Always ask questions! You should not be afraid to ask questions and seek clarity on all your insurance policies. Some of the top questions you should be asking is:

• What is my deductible and what are my deductible options? 
• What is my premium?
• What happens if I get into a car accident?
• Do I have enough protection with my current home or auto policy?
• Am I eligible for any discounts?
• Do I need an umbrella policy?
• Is it time for me to consider life insurance? 
• Most companies offer an additional discount to your home or auto policy if a Life and/or umbrella policy is added to your package.

It is important to us that we work together to ensure that we have the right coverage for you.