But these changes have impacted more than just the way we live. It has changed HOW businesses operate. From changing hours to safety regulations that we have never seen before. But these impacts have also changed the way the insurance industry is operating, and it is critical that you know about this so you can understand how to properly protect your family.
Many people have either heard a rumor or wondered how the COVID vaccine might impact your ability to get life insurance. At the present moment, there is nothing in any policy that I have seen that states there are any changes to a life policy whether the person had the vaccine or not. If someone were to unfortunately pass away, their life policy (If they had one) would still pay out. And there are no changes to underwriting when getting a new policy.
Why is this important?
Because whether you have gotten the COVID vaccine or not, you still NEED to have life insurance! And know that you now it doesn't have any impact on your eligibility or payout restrictions, you can get options to fit your unique situation.
Once those filings have been reviewed and signed off, you will start seeing higher auto and home rates at your next renewal. When any insurance company starts paying out more in claims there typical response is to increase rates for new and existing customers. Typically the existing customer will see a smaller increase than a new customer switching over to that carrier, but there is still going to be a state-wide level increase regardless.
What can you do about these increases?
The best thing to do is start shopping your rates around to make sure you are still getting the best possible price AND coverage for your specific situation.
**A warning I will give you, as I have seen it hundreds of times over the last 18 months, is to not get fooled into slashing your coverage's when switching carriers.**
When you get a quote, the safest thing you can do is to have your current declaration pages available to compare with. Since the onset of COVID, so many people have dropped from 100/300 in liability coverage ($100,000 per person/$300,000 per occurrence) to the state minimum of 25/50 in Georgia. Whether the agent who wrote that policy explained that to you or not is a big deal for two reasons.
Making sure that people have the RIGHT protection for their families is the most important thing we do. Whether we are your current agent or not, we will provide a FREE, unbiased review of your current policies to let you know where you stand.
We will break down the areas that are good and point out any potential gaps in your coverage that could lead to a lot of money out of pocket if you have to file a claim. Not all agents or policies are created equal, and your unique situation needs to be addresses so you make sure you don't have a 'one-size-fits-all' policy.
Serving Georgians and treating people the way we would treat our own family is how we operate. But with all the accidents that happen each day, our biggest fear is that so many people don't know what coverages they have and could end up in a financial hardship over one bad day. You have everything to gain and nothing to lose by having a better understanding of your insurance. So get your free policy review today and know your family is properly protected!
Nobody wants to pay more for insurance than they have to. So today we are going to take a look at auto insurance discounts to make sure you are maximizing your savings without compromising your protection!
There are various types of discounts you can add on to your auto policy. Some apply for the entire policy, and some apply to specific coverages (Such as liability, collision, etc.). Depending on your specific situation, you need to talk with your agent about the discounts that they offer. Below is a short list (Not complete since some carriers offer unique discounts that others may not have) of auto discounts and a brief description so you can see the requirements for each.
Most people understand the concept of renters insurance. It covers your Personal Property (Clothes, Furniture, Electronics, etc.) at the residence you are renting. Whether you are renting an apartment or a home, there are a few key details you need to understand so you know you are properly protected.
First, in almost all cases a landlord is going to require that you have renters insurance in your lease. And once you sign this lease it becomes a legally binding agreement. This means, however unlikely, that you could potentially be evicted if you do not have a renters policy in place because you are not sticking to the agreement you signed. But why is this? Because when a landlord gets an insurance policy for the rental home/apartment, one of the application questions that determines their rates is if they require all of their tenants to have a renters policy. Depending on the carrier, they may be required to show proof of this to get a better rate for their policy. So if you do not carry renters insurance, they cannot give proof and then their rates increase also. But the landlords policy, whether you live in an apartment or a home, does NOT cover your personal belongings. The landlords insurance policy covers the structure itself and a small amount for THEIR personal property (Appliances, etc.). So if something happens the home/apartment would be rebuilt, but if you did not have a renters policy you would be out thousands of dollars to replace all your items inside the home.
This blog will have articles written by members of the Stephen Turner Agency as well as other relevant articles we find. We want to ensure you have the most up to date info on the insurance industry so you can make the best choices for your family!