Wise Insurance Agency LLC Blog
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Many things can change how much you pay for car insurance. Here are some of them:
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This is because there is a co-insurance clause in a homeowners insurance policy. This is a provision that requires policyholders to carry a certain percentage of the value of their home in insurance. Typically, this requirement ranges from 80% to 100% of the home's value. The purpose of the co-insurance clause is to encourage homeowners to insure their property adequately.
Here's how it works: If a homeowner doesn't have sufficient insurance coverage as defined by the co-insurance clause (e.g., less than 80% of the home's value), they may receive a reduced payout in the event of a claim. The payout is reduced because the homeowner is considered to be a "co-insurer" of the risk. This means that if the coverage is less than the required percentage, the insurance payout for a claim will be reduced proportionally. For example, if a home is worth $100,000 and the insurance policy requires 80% coverage, the homeowner should have at least $80,000 in coverage. If the homeowner only has $60,000 in coverage and suffers a loss, the insurance company may only pay a portion of the claim, based on the ratio of the actual coverage amount to the required coverage amount. It's important for homeowners to regularly review and adjust their insurance coverage to ensure it meets the requirements of the co-insurance clause and to avoid potential underinsurance issues. Lots of things can change how much you pay for home insurance and what it covers:
In Florida, homeowners insurance can protect your home and stuff in different ways:
Paying your insurance policy in full is a good idea because it can save you money and make things simpler:
"Non-renewal" in insurance means the insurance company chooses not to continue your insurance policy when it ends. Insurance policies usually last for a set time, like six months or a year. When that time is up, the company decides if they want to give you another policy. There are a few reasons they might say no, and if you have received a non renewal reach out to me and I or one of my team members will kindly review it for you and let you know your options
In recent times, drivers across the country have been facing a somewhat unnerving trend: the consistent rise in car insurance premiums. With each renewal notice, it seems the cost to protect our vehicles creeps higher, leaving many to wonder why this is happening and, more importantly, what can be done to lower these escalating expenses. In this blog post, we'll delve into the factors contributing to the surge in insurance rates and provide actionable strategies to help you ease the financial burden. Understanding the Surge in Premiums:
What You Can Do to Lower Your Premiums:
The rise in car insurance premiums is a multifaceted issue influenced by a variety of economic factors and industry trends. While we can't control all these elements, we can take proactive steps to minimize their impact on our wallets. By understanding the why behind the rising Welcome to our new insurance agency blog! This is our very first post. We're not quite sure what we're going to write about here, but the plan is to create helpful content for customers and prospective clients about information that is relevant to you. We hope you'll come to view this as a top resource for keeping your family and your finances safe. Here are a few of the topics we may be writing about:
Stay Tuned! |
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March 2024
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