​What factors go into determining how much you will pay for auto insurance? Everyone’s quote is likely to be a bit different. And, your costs are likely to change over time. This happens for a variety of reasons. If you are in the market for a new policy or want to update your existing one, it’s important to know what to look for in a policy. Here’s some insight into what factors play a role in what you are likely to pay.
 
Each Insurer Is Different
 
It is important to remember this one aspect. Every auto insurance carrier sets its own car insurance rates. Some insurers simply set prices higher than others. This is one reason to compare policies among providers before making a decision.
 
Your Driving Record Matters Most
 
Other factors playing a role include your past driving record. If you have moving violations, your costs will be higher. The increased costs relate directly to risk.
 
Drivers with past tickets for things like speeding are more likely to repeat the same types of risks. As a result, insurers increase costs to compensate for the potential loss. A driver with a clean record is likely to pay significantly less than others.
 
Your Vehicle and Its Value
 
The more expensive your vehicle is, the more your insurance costs will be. Imagine if a $5,000 used vehicle was in an accident and the insurer had to total it. Compare that to the brand new $30,000 vehicle another driver owns.
 
The higher the value of the vehicle, the more expensive the coverage. If you have added features or high-tech accessories, that raises the costs, too. Additionally, if your car is hard to repair, such as a classic vehicle, your costs are likely to be higher as well.
 
Gaps in Insurance Coverage
 
Auto insurance needs to remain consistent for every driver. If your policy expires before you renew it, or one insurer cancels your policy, it will cost more for reinstatement. Avoiding any lapse in coverage becomes critical to minimizing risks in increased costs.
 
Other factors play a role, too. How much you drive, where you live, and your credit score are factors. You may pay more based on the type of coverage you have, too. Your car insurance costs will change over time. Understanding what protections you have is a good way to know what you are paying for through your plan.

​Buying a home is a big risk. Even if you love the home, you never know what happened there. A home inspection can give you some insight into the condition of the home on a more thorough level. From a home insurance point-of-view, that’s important. It can help you, and your insurance agent, know the home is safe. A home inspection is always a good investment. How can it pinpoint insurance-related problems?

Home Inspections Start at the Roof
 
The roof is one of the most important structures of the home. It provides initial protection from rain and outdoor exposure. The roof inspection should tell you the age and condition of the room. Most inspectors will also tell you when you can expect to need to replace it. That’s important to home insurance companies. If there’s already significant damage, they may not cover a claim you make.
 
Inspecting the Main Utilities
 
The home inspector should also look at the condition of the home’s plumbing and electrical systems. This gives you insight into how safe your home is from the risk of electrical fires as well as burst pipes. Your home insurance may cover some of these risks, but only if they occur as the result of a sudden and inspected incident. You want to be sure the home is safe from the start, to reduce these risks.
 
Inspections Uncover Concerns with the Foundation
 
Most home insurance policies do not cover foundation repairs. The coverage depends on the cause of the damage.


However, your home inspection will look at the quality of the foundation and pinpoint concerns. This is one of the most expensive repairs you may need to make. It is wise to know if it is necessary from the start.


Ensuring Main Systems Are Working
 
The home inspection should also look at all major systems in the home. The inspector will ensure they are working and in good condition. This includes your air conditioning, heating, and water heater. It should include any drainage system, such as a sump pump, as well. If there’s an exterior well or tank, they should inspect these, too. Insurance doesn’t cover damage to these from normal wear and tear.


Home inspections provide information and insight you need before you buy a home. Walk with your inspector around the home to learn the ins and outs of it. This gives you information you cannot have on your own.

​Leased vehicles need full coverage. It is common for the leasing company to require comprehensive coverage on these cars. This can increase the premium costs to you. However, this type of auto insurance minimizes their risks. It also helps protect you in the case of an accident. Does that mean you have to spend a lot of money? There could be ways to save money when insuring a leased car. Here are some tips.
 
Know What the Requirements Are
 
Speak to your auto insurance agent and the leasing agent to clarify this information. What is most important is protecting the value of the car. There are not benefits to insuring a vehicle for over its current worth, in most cases. Be sure you are purchasing just enough coverage based on the value.


Nearly all leasing companies will require drivers to have collision insurance and comprehensive auto insurance. You must meet at least the minimum requirement for liability insurance in your state. However, it may be best to increase liability insurance levels to match your area’s risk levels. Your agent can help you.
 
Increase Your Deductible
 
One way to reduce your cost is to increase the deductible on the policy. Never raise it to a level that is too expensive for you to pay out-of-pocket should an accident occur. However, you should choose a deductible that is as high as you can afford. Raising it, for example, from $500 up to $1,500 could significantly reduce your costs. If you are a safe driver, this helps.
 
Keep Your Driving Record Clear


You could save a significant amount of money simply by being a safe driver. Insurance companies base costs, in part, on how much risk you present to the company. A driver with numerous previous claims from accidents is going to pay more. This applies to leased vehicles, too. The more risk you are, the higher those premiums are. If your record improves, be sure to let the agent know.
 
Add Security
 
You can also reduce your costs for auto insurance on a leased vehicle by adding more security to the car. This may include a GPS tracker or a security system. If the vehicle does not have these features, work with the leasing company to install them. Safety features like this save you money and protect their investment.
 
Talk to your car insurance agent. Find out what savings options apply to you.

​From time to time, auto insurance rates will increase. Most often, this happens due to the cost of living rising. However, many people can save money by asking their insurance agent about savings options. If your prices are on the rise, take these steps to ensure you are paying the least amount necessary. Don’t limit your coverage. Instead, apply these savings tips.

#1: Ask Your Agent for a Better Price
One of the best ways to save is with a conversation with your agent. Ask the agent a few key questions:

• Why are your rates going up? This may not be a result of your situation. For example, it may be due to industry-wide rate increases.
• Is there anything the agent recommends to help lower your rate? Ask for any available discounts that may apply to your needs.
• What factors can you control that could be impacting your costs? This may include things like driving violations.

​
The key is to simply ask your agent for a better price point. This could lower your rate just for asking.

#2: Fix Problems with Your Risks
Being a high-risk driver is never a good thing. It is the single most common reason auto insurance rates increase year-over-year.
​
A high-risk driver is one that gets moving violations. It could also be a person without a long driving history. Your agent may recommend:

• Taking a defensive driving course to increase your skill level, decreasing your risk.
• Give it time. This is especially true for new or young drivers.
• Avoid moving violations. Points usually drop off your license every year. This could help boost your rates

#3: Consider a Quote from a Competitor
You do not have to remain in an auto insurance policy that is too expensive. Consider requesting a quote from another insurance company. By working with us as an independent agency, you can guarantee you can find the most-affordable policy.

When you do, use that information carefully to make a decision about your coverage.
​

• Compare other companies based on the features and coverage amounts you have right now.
• Ask for available discounts or a new policyholder discount from that agency.
• Let your current auto insurance company know about the lower rate. They may match it.

​
Car insurance costs are going to increase every now and then. Being a safe, low-risk driver is the best way to keep those costs as low as possible. Most drivers can find ways to reduce costs simply by talking to their agent.

​Will home insurance replace a home if destroyed? This is a common question many people ask. Most people believe that, if they lose their home, having home insurance means the insurer rebuilds the property. That is not always the case. In many situations, this depends on what happens, the type of insurance you have, and the value of the home. Your home insurance company wants to help you when this occurs. Yet, whether they can depends on a number of variables. Here is what every property owner needs to know.

What Happened?
The first step in determining if home insurance can cover your losses is to understand what happened. Insurers say the event must be a covered peril. This means it must be something your policy covers.
​
Home insurance does not cover instances of poor maintenance and upkeep. It does not cover damage you cause to your own home. And, it may not cover floods or earthquakes in some areas. Your agent works with you to determine the cause of the loss. Then, if the policy covers it, the process moves on.

What Type of Coverage Do You Have?
Homeowners with full replacement cost value are likely to get the most help here. In this case, the insurer determines if it is possible and affordable to make repairs to the structure. If not, the insurance company totals the home. From here, it then determines the value of the home. Here is where things can become difficult.
​
If your home does not have replacement value, that means the policy pays out the amount listed on the plan based on the value of the home at the time of the accident. That's the home's cash value. However, the value of the home is never the same as the cost to rebuild it.

Generally, it costs more to rebuild a home from the ground up. If you have replacement cost, the insurance company covers the cost to rebuild the home to the same standards as before the accident.

What’s Inside Matters, Too
Most insurance policies cover personal belongings as well. This generally falls between 20 and 50 percent of the total coverage on the home. It covers items you lost as a result of the covered incident.

Will home insurance help you if your home suffers a loss like a fire or a storm? You do not want to have to ask this question. Rather, you want to know the type of insurance you have in advance.
​
Talk to your agent about your coverage. Upgrade or modify it to better provide the protection your home needs from these common risks.