5 Basic Personal Insurance Tips

With my family’s insurance renewals coming up, I’ve spent the past couple of months checking out home and auto coverage from different companies. Interestingly enough, my research points out some myths about insurance that many folks may not know. For example:

1. With all the recent rain and flash floods, I can’t help but think of consumers who mistakenly believe that homeowners insurance covers all damage. Too many homeowners have taken a beating because they think they’re protected from those teeming waters. Remember: the only insurance that covers floods is FLOOD insurance.
2. Just because you’ve paid your homeowner’s policy in full doesn’t automatically mean you’re covered when something happens to your house. Exclusions, special conditions, and other limitations may impact what you’ll get if you incur a loss. Check regularly with your agent to review your policy to ensure you’ve got the right one based upon your needs and wallet.
3. Just because one buys “full coverage” doesn’t mean everything’s covered. First of all, there’s no such animal as “full coverage” and, in fact, most states mandate only liability insurance. Be certain you select only the coverage you need and can afford.
4. Thinking certain car colors increase premiums is another mistake people make. That cherry red vehicle won’t make your payments rise, but some other factors will, including the year, make and model of the auto; miles driven per year; the driver’s age, driving record and credit history; and other persons also named on the policy.
5. Just because policyholders own an older car doesn’t mean we don’t need comprehensive coverage. These days, many thieves target less new vehicles; they’re easier to steal, plus a strong market exists for older parts. (Source: timesfreepress.com)

If you have any questions about El Paso insurance, then give us a call at 888-726-3380.