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TGS Insurance » Blog How to Choose the Right AutoInsuranceDeductible When it comes to autoinsurance, one of the most important decisions you’ll make is selecting your deductible. But what exactly is a deductible, and how do you know which one is right for you?
New Legislation Means Many California Drivers Will Need More Coverage in 2025 Now that 2025 is here, many California drivers will face another significant autoinsurance rate increase. This latest change could disproportionately affect communities where insurance costs already strain household budgets.
Understanding how much car insuranceclaims typically cost involves taking a look at the complicated world of car insurance, where many things can affect the numbers. Freeway Insurance is a company well known for making sure that drivers across the United States have good insurance coverage.
Shield Insurance Agency Blog | Collision Coverage | AutoInsurance | Start A Quote Today! Michigan is a state with unique autoinsurance requirements that can sometimes be confusing to navigate. The deductible is the amount you must pay out-of-pocket before your insurance coverage kicks in.
This drives up the cost to repair, impacting claims costs. Rising expenses could perhaps cause higher insured values, leading to policy adjustments and higher premiums. Auto parts are often manufactured overseas, even for US-made vehicles, which could drive up the cost of repair and in turn, cause rates to rise.
Increased repair costs, a component of inflation, was cited by nearly half for both auto and homeowner insurance and is far higher than Gen Z and Millennials, likely reflecting the years of owning insurance and understanding the makeup of claims costs.
TGS Insurance » Blog Understanding Agreed Value AutoInsurance: Protecting What Matters Most on the Road When you’re talking about a car that’s more than just a ride—a vintage beauty, a collector’s item, or a custom-built masterpiece—the stakes are different. For many, traditional autoinsurance might feel a bit off the mark.
Autoinsurance rates vary from person to person and vehicle to vehicle. That’s because several factors influence the cost of autoinsurance premiums. Understanding these can help you make informed decisions about your coverage and potentially save on your autoinsurance.
TGS Insurance » Blog Understanding Agreed Value AutoInsurance: Protecting What Matters Most on the Road When you’re talking about a car that’s more than just a ride—a vintage beauty, a collector’s item, or a custom-built masterpiece—the stakes are different. For many, traditional autoinsurance might feel a bit off the mark.
Shield Insurance Blog | Small InsuranceClaims | Contact Our Sales Team! Small InsuranceClaims Can Raise Premiums Small insuranceclaims, such as those for minor property damage, may seem like a hassle to deal with. However, filing small insuranceclaims can have long-term financial consequences.
What are the coverage limits and deductibles? What is the highest amount I could pay on a claim? What deductible do I have to meet before my coverage kicks in? Can I adjust my deductible down the road? If I use vehicles for my business, do I need commercial autoinsurance? How are claims handled?
Imagine discovering after a claim that the policy won’t pay enough to replace your roof or cover water damage. Mind the Deductibles—Higher Isn’t Always Better A deductible is the amount you pay out of pocket before your insurance steps in. Bundling your home and autoinsurance with the same provider?
The no-fault system was designed to streamline the claims process, reduce the burden on courts, and ensure that accident victims receive compensation more quickly. Think about it—if your insurance is responsible for your expenses regardless of fault, you’re not stuck waiting for an at-fault driver’s insurance to approve or deny your claim.
Just remember, when comparing apples with apples in terms of the level of coverage as well as deductibles, make sure you are actually doing so compared with other quotes. Up Your Deductive Your deductible is the cash amount you agree to pay when making a claim, whereas the insurance only kicks in thereafter.
How Credit Score Impacts Home Insurance At its core, your credit score is a measure of financial reliability. Insurers use a version of it—often called a credit-based insurance score—to assess how likely you are to file a claim. Studies have shown a correlation between lower credit scores and higher claim activity.
Understanding Small Business Insurance in California The Basics of Business Insurance Before diving into the world of insurance savings, it’s crucial to understand the basics of business insurance. Small business insurance covers property damage, liability claims, and employee-related risks.
Subrogation is more than just a fancy insurance term – it’s a right held by your insurance carrier under your policy that allows them to seek reimbursement from the party found responsible for the accident after they’ve paid a claim for a covered cause of loss. HOW LONG DOES SUBROGATION TAKE?
Anything from quoting to underwriting, servicing, billing or claims may no longer operate at the level expected by customers, putting trust and loyalty at risk. AutoInsurance Study SM released June 2024, 76% of the younger generation have had to cut back and tighten their budget compared to 61% of the older generation. [i]
Private-passenger vehicles damaged or destroyed by either wind or flooding are covered under the optional comprehensive portion of an autoinsurance policy. How to Prepare for Hurricane Season How to File a Flood InsuranceClaim Is Your Business Ready for Peak Hurricane Season?
Similar federal “safe harbor” legislation for the insurance industry – the Clarifying Law Around Insurance of Marijuana Act (CLAIM Act) – was introduced last month. The CLAIM Act would let these businesses obtain insurance to cover the same risks of theft, damage, injury, loss, and liability as all other businesses.
There is inflation and its pressure on claims costs, whether it’s medical or it is physical damage to homes and businesses. Some customers can’t afford their insurance and they are decreasing the amount of insurance they have or not purchasing it all together. We have challenges from a macroeconomic perspective.
This infographic from the Doeren Mayhew Insurance Group demonstrates the power of visuals for blogs. Feel free to include these common questions: When should I update my life insurance coverage? Under what circumstances should I file an autoinsuranceclaim? How do umbrella insurance policies work?
AutoInsurance Trends Report published by LexisNexis. Factor #3: Rise in claim severity and attorney-represented claims. When drivers submit claims today, the damages are often more severe due to the unsafe habits mentioned above. This content was developed for general informational purposes only.
Add inflation and ongoing supply chain challenges to the mix, and the financial landscape for accident claims has drastically shifted. Another possibility is an uptick in participation in California’s Low-Cost AutoInsurance Program. Additionally, the higher limits could have a ripple effect in the legal realm.
Even though it can seem embarrassing at times, providing accurate information could prevent claims being denied or your policy being canceled. Evaluate Your Deductible Your deductible is the amount you pay out-of-pocket before your insurance kicks in.
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