For many years, your Auto Insurance premiums have been determined in large part by: Your age Your driving record and claims history Your credit The type of car you drive Where you live There are many other smaller factors at…
Today we live in an “Amazon” world and we’ve come to expect that with a few clicks, we can buy just about anything. Car Insurance is no exception and you can easily go online and buy a policy in 15…
“Hey, I have to go pickup a new couch – Can I borrow your truck?” We’ve all been there- your friend asks to borrow your car for weekend or use your truck to make a dump run and you are…
By Ryan Stueber January 2019 Liability Insurance- how do I know if I have enough? One sunny day you are driving along a road that you’ve driven many times before. You slow and prepare for a right hand turn into a parking lot but fail to notice the bicyclist riding along in the bike lane next to you. As you turn, the cyclist is unable to stop and crashes into the side of your car, causing significant head and chest injuries. As much as you are concerned that he will be ok, as he is carted off in the ambulance you can’t help but wonder, “Is my Auto Insurance going to cover this?” One of the biggest financial risks that we rarely consider as we go about our daily lives is a liability lawsuit from an auto accident. As we can see from the example above, it only takes a moment’s inattention to have life altering implications. With medical costs skyrocketing and more and more people hiring personal injury attorneys after an accident, it is more important than ever to review the Liability coverage on your Auto Insurance Policy. The State of Washington only requires Liability Limits of $25,000 per person, and up to $50,000 per accident on an Auto Insurance policy. That may seem like a lot but if you’ve been to the hospital or had any kind of medical care, you likely know just how fast 25,000 can be used up when treating an injury. In a hospital or major medical clinic that amount could be used up in less than a day! Once the Liability Limits on your auto insurance policy have been exhausted and all used up, the insurance company has done their part on the claim and steps out. The remainder of any financial burden […]
Let’s face it, If you’ve taken a look at your Auto insurance bill lately you likely noticed a definite upward trend. You may ask – “What can I do to keep my rates as competitive as I can?” Here’s our answer. 5 Ways To Help You Save on Auto Insurance Keep a clean driving record. Drive safely and within the laws of the road. Be a defensive driver. Be careful of filing small claims. Filing small claims will likely cause your rates to go up and our options for car insurance carriers to be impacted. Pay attention to your credit score. You may be surprised to learn that there is potential your credit score will change your insurance rates. Spending the time to get your score as high as you can will benefit you in many ways beyond just how much car insurance costs. Bundle your Auto and Home or Renters insurance with the same insurance company when possible. Most companies offer a discount between 15% and 25% to bundle. Take advantage of the tracking devices and apps now being offered by many insurance carriers. These devices track how much you drive and how you drive and can give significant discounts to safe drivers. Call or email us if you are interested! Now, when trying to save money on car insurance, we also need to look at how Insurance Companies determine their rates. New technologies allow for a considerable increase in the amount of data that is collected which enables insurance carriers to help determine the when, who, and where in regard to when claims are most likely to occur and charge accordingly. The following list is compiled of just a few important factors that will typically have the largest impact on your insurance rates. Factors That Weigh into Determining […]
By: Ryan Stueber Wait…there’s no such thing as Full Coverage on my Auto Insurance? Picture this scenario – You are driving along when suddenly another vehicle runs a red light and hits you causing damage to your car and sending you to the emergency room. A week later you find out that although the damage to your vehicle will be covered by your insurance, your medical bills won’t. “But I thought I had full coverage?” You say. “Shouldn’t my injuries be covered as well?” Therein lies the problem with the term “Full Coverage”, assumptions and misunderstandings. When a term like “Full Coverage” is used, it leads to a lot of assumptions from both parties. Traditionally, “Full Coverage” equates to having Comprehensive and Collision coverage on your vehicle, in addition to the liability coverage requirements and that is all. Really, it is usually referencing the coverage for your car, not for your medical coverage. So where did the term Full Coverage come from anyway? It’s hard to say for sure, but it likely finds its roots with Auto Finance Companies seeking an easy way to tell their clients what is required when they are financing or leasing a vehicle. The Finance company only requires Comprehensive and Collision coverage because the vehicle is all they care about. What’s not covered by “Full Coverage” Auto Insurance? A lot! Uninsured Motorist Personal Injury Protection Rental Reimbursement Roadside Assistance New car Replacement or GAP coverage Full Glass coverage These and many more coverages are not necessarily being included when you ask for “Full Coverage” but are extremely important coverages to have and understand. At PNW Insurance Group we pride ourselves in education and explanation of what we are suggesting and how it benefits you. How do I make sure I’m fully covered? Well, the bad news is […]
We know the feeling, after all, we get those same envelopes, with that same increase in our auto insurance bill as well. We wanted to share some information with you that may help. While we can’t change how rates are determined – we can; help educate you on the “why”, let you know the advantages of the policy you have and the company you have it with; review your needs and see if another one of our carriers may be a better fit and let you know the downsides of switching carriers – do you lose discounts when you switch? Are there discounts now you may be eligible for and not getting? Please give us a call, we’d love to talk it about it with you. 253-447-8006 or feel free to contact us to set up a convenient time to discuss your situation. What affects my rates? Let’s just boil this down, for the most part it will help explain some of the factors and considerations into rates. The area in which you live – more people means a higher likelihood of accidents. Age of driver – Experience driving or lack of it Type of Vehicle – Costs to repair or replace have grown tremendously Your driving record – Need I say more? Your credit score – While it may seem like the issues aren’t related, statistics have indicated they are and insurance is largely driven by (no pun intended) statistics. Some more insurance rate factors: In a study done on minor front end damage for an entry level sedan of the same make and model for the model year 2014 and 2016, the 2014 costs came in at $1,846 while the 2016 was $3,551 – almost double! Now throw in all the technology cars have – yikes! Although, I do love a car […]
Why do my auto insurance rates keep going up even though my car is getting older? At PNW Insurance Group, many of our clients here in Washington state as well as many people all over the country, ask this question.…