It’s unfortunate how many car owners find auto insurance premiums so complicated. They sit with an insurance agent, lost as the agent builds their policy. What is the agent doing? Are they trying to rope me into getting coverage I don’t need? I don’t understand what everything means…
But in actuality, auto insurance premiums are based on very simple principles. Your agent will basically determine what risk factors you have, and once you reach a place where you’re comfortable with your coverage, that’s really all that’s involved.
The risk factors will be based on things like your gender, age, occupation, driving record, type of vehicle, and where you live. As you can see, some of these risk factors are under your control and some aren’t.
However, the decision on what coverage to purchase will be up to you. The agent will make strong suggestions (see below), but you have to choose what makes you feel safe. Normally, the three main types are Liability Coverage, Comprehensive Coverage, and Collision Coverage, but there are other sub-options as well, such as Personal Injury Protection and Uninsured/Underinsured Motorist Insurance.
The types of coverage that are normally strongly recommended by agents are Liability Coverage, Comprehensive Coverage, and Collision Coverage, so don’t be surprised when those are suggested. Liability will cover the damages you’re responsible for when you’re involved in an accident. Collision covers damage to your own vehicle in the event of an accident, and Comprehensive covers damage to your vehicle that is not accident-related, such as damage caused by a natural disaster, vandalism, or theft.
It’s never a good idea to settle only for the minimum coverage required by law. The more auto insurance you buy, the cheaper it is, meaning you can get more coverage with just a slight increase in your policy. It comes down to you deciding what will make you feel safe when it comes to insuring the safety of your vehicle. The agent is there to help you – not confuse you!
Podmaska Insurance is an independent insurance agency in the Pawtucket, Rhode Island area. To learn more about Pawtucket, Cranston, Johnston, and Providence auto insurance, contact them today.
Friday, January 30, 2009
8 Ways to Protect your Home against Electrical Fires
One of the best and easiest ways to keep your home insurance policy cost down is to take safety precautions in your home. Here are 8 ways to protect your home against electrical fires:
• Use a power strip instead of an extension cord in an electric socket when you need to plug in a lot of things.
• Never run electrical cords under “areas of wear” such as rugs, over nails, or in traffic areas.
• Never use a standard extension cord for a major appliance or a heat-producing appliance; instead, use a heavy-duty extension cord.
• Choose only electrical devices that carry the Underwriters Laboratory (UL) or Factory Mutual (FM) rating.
• Don't yank plugs out of the electric socket – you could bend the prongs and up the chances of it becoming dangerous.
• Replace any cord or plug that is cracked, discolored, or feels hot to the touch when in use.
• If your lights flicker and/or appliances run slowly, or if you have a fuse that repeatedly blows, call an electrician. That means your system is overloaded.
• Don't use a bulb with more wattage than a lamp or fixture is rated to accommodate, or the unit will overheat.
Podmaska Insurance is an independent insurance agency in the Pawtucket, Rhode Island area. To learn more about Pawtucket, Cranston, Johnston, and Providence home insurance, contact them today.
• Use a power strip instead of an extension cord in an electric socket when you need to plug in a lot of things.
• Never run electrical cords under “areas of wear” such as rugs, over nails, or in traffic areas.
• Never use a standard extension cord for a major appliance or a heat-producing appliance; instead, use a heavy-duty extension cord.
• Choose only electrical devices that carry the Underwriters Laboratory (UL) or Factory Mutual (FM) rating.
• Don't yank plugs out of the electric socket – you could bend the prongs and up the chances of it becoming dangerous.
• Replace any cord or plug that is cracked, discolored, or feels hot to the touch when in use.
• If your lights flicker and/or appliances run slowly, or if you have a fuse that repeatedly blows, call an electrician. That means your system is overloaded.
• Don't use a bulb with more wattage than a lamp or fixture is rated to accommodate, or the unit will overheat.
Podmaska Insurance is an independent insurance agency in the Pawtucket, Rhode Island area. To learn more about Pawtucket, Cranston, Johnston, and Providence home insurance, contact them today.
What Happens When You Can't Pay Life Insurance Premiums?
Have you ever thought about what would happen if you could no longer pay your life insurance premiums? With the economy the way it is at the moment, more and more people are now considering that possibility.
Of course, the best thing to do is to ask your insurance carrier to explain exactly what would happen, especially because each type of insurance has different consequences for not paying. However, here is the general idea for the most common types of coverage:
• Term Life – When you can no longer afford to pay term life premiums, your coverage will lapse.
• Permanent Life – This comes with a few options:
o You can stop paying the premium and receive the available cash savings. You’ll lose coverage, but you will have a little money.
o You can stop paying premiums completely in return for a reduced death benefit and no cash saving.
o Your policy can lapse. Ask if it can be reinstated.
It happens to more people than you think, but many times, insurance carriers will work with you or give you enough options so that you will be fine.
Want to know more about life insurance? Contact us today. We’re Podmaska Insurance, an independent agency in Providence, Rhode Island.
Of course, the best thing to do is to ask your insurance carrier to explain exactly what would happen, especially because each type of insurance has different consequences for not paying. However, here is the general idea for the most common types of coverage:
• Term Life – When you can no longer afford to pay term life premiums, your coverage will lapse.
• Permanent Life – This comes with a few options:
o You can stop paying the premium and receive the available cash savings. You’ll lose coverage, but you will have a little money.
o You can stop paying premiums completely in return for a reduced death benefit and no cash saving.
o Your policy can lapse. Ask if it can be reinstated.
It happens to more people than you think, but many times, insurance carriers will work with you or give you enough options so that you will be fine.
Want to know more about life insurance? Contact us today. We’re Podmaska Insurance, an independent agency in Providence, Rhode Island.
Does Your Landlord’s Insurance Cover Your Personal Property?
Usually, after someone purchases a home, their next step is to also purchase homeowners insurance to protect their new investment. Homeowners want to make sure their new house and everything under its roof are secure.
So why don’t apartment and condo renters feel the same? Statistics show that less than half of renters own renters insurance. Could it be because they believe the landlord has it covered? Or maybe they don’t really care what happens to the outside of the building, since it’s only theirs temporarily.
Well, the landlord has the outside of the building covered, and many apartments will require you to purchase a light form of renters insurance if you move in, but your personal possessions will not be covered unless you buy renters insurance yourself.
Your things must be valuable to you. Why not protect them? Your neighbor could cause a fire. A burglar could take your iPod, laptop, and flat screen TV while you’re out at dinner. A hurricane or earthquake could ravage your entire living room. It’s important to protect what you have.
Here are some of the misfortunes that your renters insurance will usually cover:
• Fire / lightning
• Windstorm / hail
• Explosion
• Riot / civil disturbance
• Aircraft
• Theft
• Broken glass
• Vehicles
• Smoke
• Falling objects
• Vandalism or malicious mischief
• Volcanic eruption
• Weight of ice, snow, or sleet
• Overflow of water
• Freezing
• Artificially generated electrical charge
Accidents can happen anywhere. Unexpected situations run rampant. Make sure your personal property is safe, sound, and secure.
For more information on renters or condo insurance, contact us today! We’re Podmaska Insurance, an independent insurance agency based in Providence, Rhode Island.
So why don’t apartment and condo renters feel the same? Statistics show that less than half of renters own renters insurance. Could it be because they believe the landlord has it covered? Or maybe they don’t really care what happens to the outside of the building, since it’s only theirs temporarily.
Well, the landlord has the outside of the building covered, and many apartments will require you to purchase a light form of renters insurance if you move in, but your personal possessions will not be covered unless you buy renters insurance yourself.
Your things must be valuable to you. Why not protect them? Your neighbor could cause a fire. A burglar could take your iPod, laptop, and flat screen TV while you’re out at dinner. A hurricane or earthquake could ravage your entire living room. It’s important to protect what you have.
Here are some of the misfortunes that your renters insurance will usually cover:
• Fire / lightning
• Windstorm / hail
• Explosion
• Riot / civil disturbance
• Aircraft
• Theft
• Broken glass
• Vehicles
• Smoke
• Falling objects
• Vandalism or malicious mischief
• Volcanic eruption
• Weight of ice, snow, or sleet
• Overflow of water
• Freezing
• Artificially generated electrical charge
Accidents can happen anywhere. Unexpected situations run rampant. Make sure your personal property is safe, sound, and secure.
For more information on renters or condo insurance, contact us today! We’re Podmaska Insurance, an independent insurance agency based in Providence, Rhode Island.
Monday, January 26, 2009
Trees, Tubs, and Trampolines: When Do You Need Umbrella Insurance?
A few nights ago, my cousin called with an insurance question. Their neighbors are threatening to sue he and his wife because a tree on their property fell over during a big storm and damaged the neighbors' roof and upstairs window. My cousin called his insurance agent and asked if they were protected by their homeowners policy. The insurance agent said, "I'm sorry, you don't have umbrella insurance." needless to say, my cousin was frustrated and called me to confirm that he needed umbrella insurance.
All insurance carriers are different and their policies may cover different things when it comes to homeowners insurance. However, generally, things like fallen trees, accidents involving trampolines, swing sets, pools, and hot tubs require a little extra coverage. That's where umbrella insurance steps in.
Basically, if you see risks that you're not sure about, such as trees, pools, etc., ask your insurance agent. In most cases you will need that extra protection. Umbrella insurance will protect you from many bad situations and can save you thousands.
For more information on umbrella insurance, contact us today! We're Podmaska Insurance, based in Providence, Rhode Island.Monday, January 19, 2009
Frozen Pipes
Did you know that every winter season, approximately 250,000 homes are disrupted or destroyed because of the disastrous effects of water pipes that freeze and burst?! That is a lot of homes!
Please take a quick minute to review some classic strategies to prevent this from occurring to you.
Keep your faucets slightly dripping so that the water stays moving and makes it much harder to freeze.
Keep your pipes warm...either by placing a space heater nearby or wrapping them in insulation.
Check frequently on your open pipes.
If your pipes have already frozen, do NOT try to thaw with an open flame or torch. A blow dryer on the pipes might work. Leave the faucets in the on position. If you suspect that your pipes have already burst, turn the main valve off in order to prevent any more serious flooding.
Now that we've briefly discussed some basic procedures to prevent this from ever happening to you and what to do if it does happen to you, let's discuss what to do before the winter season... Talk to your insurance agent and make sure that you are covered. At Podmaska Insurance Agency, we favor educating our clients on the details of their policy. It is so important to KNOW that if disaster is to strike your home, you are 100% covered.
Please take a quick minute to review some classic strategies to prevent this from occurring to you.
Keep your faucets slightly dripping so that the water stays moving and makes it much harder to freeze.
Keep your pipes warm...either by placing a space heater nearby or wrapping them in insulation.
Check frequently on your open pipes.
If your pipes have already frozen, do NOT try to thaw with an open flame or torch. A blow dryer on the pipes might work. Leave the faucets in the on position. If you suspect that your pipes have already burst, turn the main valve off in order to prevent any more serious flooding.
Now that we've briefly discussed some basic procedures to prevent this from ever happening to you and what to do if it does happen to you, let's discuss what to do before the winter season... Talk to your insurance agent and make sure that you are covered. At Podmaska Insurance Agency, we favor educating our clients on the details of their policy. It is so important to KNOW that if disaster is to strike your home, you are 100% covered.
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