Important Things To Keep In Mind While Renewing Car Insurance

by Administrator 30. April 2020 04:47

Car insurance is due for renewal at the end of an insurance plan term and this is the time to assess change in rates and other factors. You can either decide to continue with the same coverage, tweak it or buy an entirely new one. An insurance plan can also be automatically renewed at the request of the plan holder.

If your car insurance is about to expire or is due for renewal, following are some important points to be kept in mind:

  • The Current Plan: At the time of renewal, it is advisable to review your current insurance plan, verify discounts and make necessary changes with the help of your insurance agent. It is important to pay the renewal payment when due to avoid any penalties. If you wish to cancel your current coverage, you should inform your insurance company in time.
  • Rates Of Car Insurance: Usually, insurance companies dispatch information about revised premium rates along with a notice for plan renewal. It is normal for insurance companies to revise premium rates on the basis of personal factors of a client that have a direct bearing on the premiums.
  • Your Car’s Market Value: Keep in mind that while calculating the amount of premium for the car insurance, its value of depreciation will be taken into account by your insurance provider. The amount of depreciation will be deducted from the current market price of your car to arrive at a base value for calculating insurance coverage costs.
  • Add-Ons: Most insurance companies offer additional covers at the time of renewal of a car insurance plan. When considering which add-ons to include in your plan, always consider your budget and your requirements.
  • Voluntary Deductions: You can avail the option of voluntary deductions in order to reduce the renewal costs of the plan. A voluntary deduction is a fixed amount or percentage of a future claim settlement that a plan holder agrees to pay. A higher voluntary deductible will result in a lower car insurance premium.

Contact Shawn Camp Insurance Agency, Inc. for renewing your car insurance. We offer insurance holders a variety of coverage options to renew their plans. For more details on things to keep in mind while renewing car insurance, visit 2705 E. Stan Schlueter Loop, Suite 101, Killeen, TX – 76542. You can also call at (254) 526 – 0535.

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Millennials Guide To Homeowners Insurance

by Administrator 27. April 2020 13:27

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Boat Insurance: Choosing The Right Coverage

by Administrator 25. April 2020 07:07

Boat insurance provides financial protection for a boat (and its contents) in addition to medical coverage, liability protection, and other covered events. Whether you already own a boat or watercraft or are planning to buy one, it is important to protect your legal liability obligations and personal property in case of an accident. Boat insurance is required for yachts, large sailboats, jet boats, personal watercraft, and other watercraft.

Listed below are some tips for choosing the right coverage for boat insurance:

  • Costs And Discounts: The cost of boat insurance depends on the insurance coverage limit, horsepower, size, value and type of boat. In a typical insurance plan, a certain amount of deductible is given for property damage, medical payments and theft. Most companies also offer discounts for anyone taking safety courses and one who has not made a boat insurance claim previously.
  • Type Of Coverage: Boat insurance covers damage due to fire, theft, lightning, collision and vandalism, damage to permanently attached equipment and the boat. Coverage options available to boat owners are bodily injury liability, property damage liability, guest passenger liability, medical payments, roadside assistance, on-water towing, total loss replacement, etc. 
  • Policies: Boat owners should be aware of policies in boat insurance related to navigational limits, marine inspections, layup periods and underage operators. If you wish to broaden your navigational limits, you will have to pay higher insurance costs. Do not use your boat during a layup period as this could dismiss your insurance coverage. Also, ensure that the boat is driven as per the age and license provisions stated in the policy.
  • Basis Of Coverage: When making a claim for loss/damage to the boat/yacht, it should be clear whether the coverage for the damage will be based on the Actual Cash Value (ACV) or the Agreed Value. If the damage to a boat is considered a total loss, it will be covered as per the amount agreed upon in the insurance plan. In case of a partial loss, the damage is compensated for in the form of a replacement cost, minus the deductible. An ACV policy compensates for the total loss up to a vessel’s current market value minus depreciation. For partial losses, the payment excludes the physical depreciation of damaged items and the deductible stated in the plan.

Shawn Camp Insurance Agency, Inc. offers boat insurance to its customers. The agents assist the buyers in selecting the right coverage for their boat. Coverage options offered to the customers are Roadside Assistance, On-Water Towing, Total Loss Replacement, etc. For more details on choosing the right coverage for boat insurance, visit 2705 E. Stan Schlueter Loop, Suite 101, Killeen, TX – 76542. You can also contact (254) 526 – 0535. 

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