Insuring Your Teenager: Tips And Tricks For Saving Money

Posted on March 16, 2018 by admin   Filed under Auto Insurance, Independent Insurance Agent, insurance rates

Insuring Your Teenager: Tips And Tricks For Saving Money

If your son or daughter has recently reached the age when they are starting to drive, you likely already have enough anxiety without thinking about what your teen driver is going to do for your car insurance rates.  Inexperienced drivers usually come with high insurance premiums, and having the facts about insuring your teen driver before contacting your insurance company will ensure you are ready to find the best deal possible.  Here are some tips to saving on your car insurance if you have a teen driver!

How Insurance Companies Include Additional Drivers-Some insurance companies assign the most expensive car to the most expensive driver, making them the primary driver for that vehicle whether or not this actually reflects the circumstances.  If you have a luxury car, this could cost you a fortune.  Your options are to buy your teen an older vehicle or switch to an insurance company that doesn’t use this method.

Shop Around-Getting the best deal with any major purchase involves shopping around.  Getting quotes from several companies before adding a teen driver may save you money.

Keep Their Grades Up-Most insurance companies look at factors such as your teen’s grades to gauge responsibility, much as they would look at the credit score of an adult.  Requiring good grades as a part of their responsibility as a new driver is a good idea, both for them and your pocketbook.

Driver’s Education-Taking a Driver’s Education course often provides an insurance discount for teen drivers.  It will also give them the skills they need to be safe and accident-free.

Increase Your Deductible-This is always an effective way to reduce your insurance rates, but always be sure you choose a deductible that you can safely afford.

Keep Your Teen Accident Free-The best way to keep your rates down and your teen safe is to encourage safe driving practices.  This includes having rules about when your teen can drive, the number of passengers they can have in the car, and a no tolerance policy if they violate these rules.  Driving is a privilege, not a right, and instilling this mentality in them as new drivers will keep them safe through the years.

These tips can help make the cost of insuring your teen a little less stressful.

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Do You Need Gap Insurance For Your New Car?

Posted on February 24, 2018 by admin   Filed under Auto Insurance, insurance rates

Do You Need Gap Insurance For Your New Car?

If you have just purchased a new car you have probably already obtained car insurance, but is your current coverage enough?  New cars are a considerable financial investment, and in most cases your car insurance will not cover the full replacement cost of your vehicle should you be involved in an auto accident.  Gap Insurance can make the difference in ensuring that your car is protected and will be replaced if involved in an accident, but is it right for you?  Here are some facts about Gap Insurance and whether it is an option that you should be considering.

What Is Gap Insurance?

Gap Insurance is auto insurance that covers the costs that are not covered by your regular auto insurance policy; namely, it covers the difference between the market value of your car and the outstanding loan amount on your new vehicle.  The moment you drive your car off the lot it loses value, and if you are concerned that you are not able to cover the difference between the amount your insurance company will give you and the amount you owe, Gap Insurance may be right for you.

When Should I Get Gap Insurance?

Gap Insurance is always a good idea if you purchase a luxury or very costly vehicle.  Most cars depreciate in value up to 20% the moment you drive them, so the more your car is worth and the more you owe on your vehicle, the more sense it makes to get Gap Insurance.

Finding The Gap Insurance Policy That Is Right For You

Like all insurance policies, not all Gap Insurance is created equal.  Before purchasing a Gap policy it is important to know what to look for and how it compares to your existing policy.  Most car dealerships offer Gap Insurance as part of their up-sell package, but in most cases this policy will cost you considerably more than if you were to get it from an insurance company or broker.  Also, be sure that your existing policy does not already offer Gap Insurance.  Another important consideration is making sure that your Gap coverage covers not only the difference between your car’s value and loan amount in the case of an accident, but covers theft and damages due to vandalism and natural disaster as well.

For most car owners, Gap Insurance is not necessary.  But if you own an expensive car or are concerned about paying an outstanding loan amount should the worst happen, Gap Insurance is probably right for you.

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The Two Main Types Of Life Insurance

Posted on January 20, 2018 by admin   Filed under Life Insurance

The Two Main Types Of Life Insurance
When you start shopping for life insurance you will quickly discover that there are two main policy types.  These are Universal, sometimes referred to as Whole or Permanent life insurance, and Term.  There are some key differences between them, and each has pros and cons.  Understanding these two policy types will make it easier to select the one that’s right for you.

Universal Life Policies
These are also presented as whole or permanent life insurance policies.  This type of life insurance covers you as long as you live, or until you hit a predetermined age-usually around 99 years-in which case the policy will pay out.  In most cases, this policy will last until your death.  This type of policy is more expensive because the company expects that they will definitely pay out on it at some point, since it does not expire. As long as you continue to pay your premiums, this policy remains in force no matter what happens regarding your health.

A Universal policy also has the feature of a cash accumulation account, which allows you to save money in a tax-deferred account on which you will earn interest.  This account allows you to withdraw funds either as a loan or as a surrender.  When the policy pays out, all funds in the accumulation account will be paid to the beneficiaries as well.

Term Life Policies
A term life policy mainly differs from a Universal policy in that it expires.  This type of policy is in force for a set number of years, and then the coverage ends.  Because the company has a lower risk of paying out on this type of policy, the premiums are generally more affordable, allowing you to take out a higher amount of coverage.  Common terms for these policies are 10, 20, and 30 years, although different companies may offer numbers in between.  The longer the term, the higher the premium is likely to be due to the higher risk of death occurring during that time period.

Term policies do not offer cash accumulation accounts.  At the end of the term, the premiums you have paid do not come back to you in any way.  If you want to take out a new term policy after the term ends, your age and any changes in your health may result in a higher premium or even a denial.

Both of these types of life insurance have their place and are useful in different situations.  The best type of policy for you depends on how much coverage you need, how long you need the coverage, and what you can afford to pay for your premiums.  In many cases, a combination of two policies, one from each type, offers the best coverage.

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Auto Insurance in Garden Grove

Posted on January 5, 2018 by admin   Filed under Auto Insurance, Independent Insurance Agent

Our insurance firm is comprised of experienced and licensed agents. Unlike other agencies, we are not order takers. We believe that every client deserves our undivided attention and complete access to our risk management services. We are concerned about YOUR WORLD and want to help you deal with your everyday risks. As independent agents we have access to multiple highly rated insurance companies in every category we serve. We completely understand that we have a fiduciary responsibility to our clients and will endeavor to exceed your expectations. We commit to our clients that we will put you first and offer unparalleled service.

The Value of an Independent

As an independent insurance agency, Henry Insurance represents only highly rated and reputable insurance companies and as such, can offer one-stop shopping for your insurance needs. The captive or non-independent typically has one company’s product to offer and the consumer is often exposed to a one-size fits all – take it or leave it relationship. As independents, we will access many companies to develop an insurance program that will meet your needs now and in the future, and at a price you can afford. Insurance is an event-driven product and your insurance agent should be prepared to mitigate any risk presented.

About our Service

Any insurance agency can provide cheap insurance products that may or may not meet your needs. Service commitment and then follow through is where the rubber meets the road. It’s not about what we promise; it’s about what we deliver. Look to our agency for excellence in:
• Claims Assistance
• Risk Management
• Value and Benefit
• Selection of Companies and Products
• Community Involvement
• Overall Customer Care

We invite all of our neighbors in Garden Grove and surrounding areas to call for an appointment or just stop in to say hello, get acquainted and find out what we can do for you and your family.

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The Top Factors Affecting Auto Rates

Posted on December 16, 2017 by admin   Filed under Auto Insurance, insurance rates

The Top Factors Affecting Auto Rates

Have you ever had a conversation with a friend or family member and wondered why their auto rates are so different from yours?  The factors that go into determining the premium for an auto insurance policy are many, and the rates for two drivers can be very different.  If you are wondering how the insurance company arrived at your rate, here are some of the factors that have an impact on your premiums.

Your Age And Experience
Your age and the length of time you have been driving are two of the biggest factors in determining insurance rates.  Young drivers who are less experienced are statistically more likely to have accidents, and their accidents are more likely to be serious.  Thus insurance companies rate for age and experience based on the risk they are taking by insuring you.  You might hear that word a lot if you look into how insurance rates are determined: risk.  The higher the risk a driver represents to an insurance company, the more they will be charged.

The Type Of Vehicle
The type of car you drive has a big impact on your rates as well.  Some cars are more expensive to repair, more likely to be stolen, or considered more dangerous to drive due to high speeds (sports cars, for example).  All of these things can lead to an increase in the premiums to insure that car.  Older, less valuable cars tend to be a lot cheaper to insure than newer, more expensive cars, because it will cost the insurance company more to repair or replace a newer car.

Where You Live
The zip code where you park your car at night is another determining factor in your premiums.  If there is a lot of theft in your neighborhood, this might cause an increase in insurance rates, as the insurance company is taking on a higher risk of having to pay out on a theft claim.

How Much And How Far You Drive
If you have a long daily commute, you spend more time in your car than someone who works from home, which means you are more likely to be in an accident.  The more you drive your car, the higher your premiums are likely to be.  Again, you are at a higher risk of having a claim due to more frequent use of your car, resulting in a higher premium.

These are just a few of the many factors that go into determining what an individual pays for their auto insurance.  Insurance companies rate each driver and vehicle based on the level of risk they represent-the likelihood that they will have a claim.  The lower your risk level, the better your premiums will become.

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What are your expectations of an Insurance company?

Posted on December 1, 2017 by admin   Filed under Auto Insurance

What are your expectations of an Insurance company? How well has your previous insurance company served you? Are all your insurance needs being met at your new insurance brokers – these questions are what you need to ask yourself if you’re like the increasing number of other Americans who are still in the market for an insurance policy that walks the walk of all its talk.

Finding the right insurance that caters to your every need has never been an easy task. Matter of fact, given the increasing number of insurance providers that currently saturate the market it is more of a Herculean feat. It is on this backdrop, after years of studying the insurance market and its indices that we at Henry Insurance have developed the pitch-perfect insurance solution tailor-made to fit your budget, your lifestyle and most importantly your needs.

A home insurance policy that secures your home so you can feel safe
Your home is perhaps one of your biggest investment, and unlike the other of your investments, it is where your heart lies. At Henry insurance, we provide just the right policy to cover your home and give you the peace of mind you rightly deserve. From the basic ‘dwelling coverage’ to ‘other structures coverage’ our experienced agents work with you to find the policy that fits you best. Our custom range of insurance policies grants you cover from all potential sources of loss (perils), including but not limited to; fire, theft, and windstorms. So when Hurricane Harvey comes wrecking, you can rest easy knowing we’ve got your back.

Auto Protection to make sure you’re always Mobile
A study conducted in 2015 by the Princeton Survey Research Associates showed that 66% of all auto insurance subscribers fail to check if there are cheaper and better options than their current policies. Are you among this ‘naïve’ bunch who take their policy as just another monthly bill? If yes, the chances are very high that you are being shortchanged. At Henry Insurance, we don’t just offer you a poster-package auto insurance coverage; we ensure that you are getting true value for every dime spent. Auto Insurance is one of the most person-specific insurance policy, as such, we carefully analyze your requirements to come up with a package that covers all your needs without cutting corners or including policy coverage you don’t need.

A name you can trust
What’s your insurance needs? Are you tired of plunging in massive bouts of your finances into coverage and getting mediocre services in return? Why not talk to one of our insurance brokers, we assure you that one trial is all it takes to get hooked to the Henry Insurance Experience.

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Common Auto Insurance Discounts And How To Qualify

Posted on November 22, 2017 by admin   Filed under Auto Insurance

You probably hear a lot about discounts on auto insurance; television commercials for various companies strongly advertise all the discounts they have available.  Most insurance companies do have many ways you can qualify for better rates, and some of them are better known than others.  Although you won’t qualify for all of the discounts, you can make certain you are getting all the appropriate discounts on your premium.

Multi-policy Discounts
Insurance companies want to get as much of your business as they possibly can, so they offer good discounts when you add more policies to your account.  Multi-policy discounts can include options such as multi-car, auto/home, auto/life, and many other combinations of policies.  Some companies even offer a discount if they insure your boat or RV.  Qualifying for these discounts is easy; simply start a second policy with your insurance company, and the discount should apply.

Good Driver And Longevity Discounts
These discounts are easy to qualify for as well.  If you have a good driving record, you should be getting the discount automatically.  The same usually goes for a longevity discount.  This is a discount that applies to your policies after you have been with a company for a certain period of time.  Often the longer you continue to renew the policy, the larger the discount will become.  The key to longevity discounts is to stay with one company long enough.  Skipping from company to company for lower rates may not save you as much in the end as staying in one place.

Discounts For Younger Drivers
There is no question that adding a young driver to your policy can be an expensive proposition.  If you have a teenager new to driving, inquire about a good student discount that can alleviate some of the cost.  You will likely be required to provide a transcript proving your child has the required grade point average to qualify.  Some companies also offer a new driver training course, and your young driver can qualify for a discount just by taking the course.  It can usually be done right in your agent’s office.  Not only will you save money, but you will help put safer young drivers on the road.

These are just a few of the discounts you may qualify for with your insurance company.  Each company is different, so be sure to ask so that you don’t miss out on potentially big savings on your premiums.

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How To Choose the Best Car Insurance Company

Posted on November 15, 2017 by admin   Filed under Auto Insurance

Know What You Want
Understand what coverages and amenities you’re looking for in a car insurance company. Are you solely looking for cheap auto insurance? How might choosing the cheapest option affect your actual coverage? What about customer service—that’s important, too, right?

Know your priorities before you begin looking to buy car insurance. Ideally, you’ll want a company that offers great coverage at an affordable price from customer service-oriented agents.

Check for Reputation and Financial Standing
Once you’ve found a few seemingly compatible car insurance companies, do some investigative work and check out the companies’ reputation and financial standing.
First, check with your state’s Department of Insurance website and make sure the company is licensed to sell auto insurance in your state.
◾Also, take a look at complaint ratios, if available. Then, look at the companies’ financial standing on reputable websites such as J.D. Power and A.M. Best.
◾Auto insurance is a two-way street: you pay for the coverage and your company provides the coverage. You need to make sure your company can pay your damages when required.

Finally, find out how the companies stand with the Better Business Bureau (BBB).

The BBB ranks companies from A+ to F, and gives you a multitude of information about those companies, such as the length of time they have been in operation and information about customer complaints (including resolutions).

Compare Car Insurance Quotes
Consider these tips when comparing auto insurance quotes:
◾First and foremost, never look at just one or two car insurance companies; always get and compare at least three quotes.
◾Talk with family members and friends about their car insurance providers.
◾How long have they been with the company?
◾Are they satisfied with their rates?
◾What about customer service? How has the provider handled their premiums in the events of traffic violations, at-fault accidents, and other common premium-increasing situations?
◾Look for auto insurance companies that offer discounts and good-driver rewards programs.
◾Some companies provide breaks for drivers of certain ages or for drivers with anti-theft devices.
◾Others offer rewards (e.g. lower premiums) for drivers with consistently good driving records.
◾Ask about bundling insurance policies.
◾Also known as “multi-line coverage,” some companies provide discounts for purchasing two or more lines of coverage (such as car insurance and homeowner insurance).
◾Check out the companies’ social media accounts.
◾Reach out to your potential insurance companies on platforms such as Facebook and Twitter and evaluate how they respond to your questions about issues such as coverage and discounts.

Remember, comparing car insurance quotes is never just about what’s cheapest.

Periodically Evaluate Your Coverage
Getting great car insurance coverage at an affordable rate is fantastic, but don’t get complacent. Many companies decrease premiums for certain life events, such as:
◾Buying a new car. You might get lower rates if you purchase a new vehicle with great safety and anti-theft features.
◾Moving. Living in low-crime areas tends to get you lower premiums.
◾Getting older. Mature drivers (generally those who are 25 and older) often benefit from lower car insurance rates.
◾Getting married. Combining two insurance policies into one can save you money. Married drivers are also viewed as more responsible and often see lower rates.
◾Purchasing a new home. Remember multi-line insurance? You could get a discount if you insure your home with the same company.

Of course, some life events can increase your rates—which means you’ll want to talk with your agent about ways to decrease them or even start comparing quotes from other providers. Such situations include:
◾Moving. Again, moving can affect your car insurance rates, and in this case moving from a low-crime area to one with a higher crime or accident rate might cost you.
◾Filing claims. Each claim you file can increase your rates—especially claims for at-fault accidents. Talk with your agent about ways to decrease rates or avoid rate hikes, or consider shopping for another provider.
◾Traffic violations. Similar to filing claims, the more traffic violations and driving points you accumulate, the higher your premium could become.
◾Adding a teenager to your policy. Often, increased rates when adding a teenager to your policy are unavoidable; however, if you feel the premium has become too high, talk with your agent about ways to decrease it (such as teen driving courses) or start looking at other companies.

Simply put, whenever you experience a life event that might decrease or increase your rates, it’s time to evaluate your coverage and perhaps even start comparing quotes from other providers.

Consider Working with an Agent or Broker
The difference between car insurance agents and car insurance brokers is that, generally, agents work with one company while brokers work with several companies.
So, while an agent can help you get the best coverage and rates from his or her particular company, a broker can shop around and help you find the best coverage and rates from a number of companies. Keep in mind, however, they may charge you a broker fee.
Unless you feel comfortable shopping around on your own or have your heart set on one company, you might want to consider consulting an agent or broker about your car insurance needs.

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