The Newlywed’s Guide to Buying Insurance

Congratulations! You just got married and everything is changing – new spouse, new home, new in-laws. But with all these new things comes changing insurance needs. Here are the things you need to think about insurance-wise after you tie the knot.

Insurance quotes in Murfreesboro TN

Home or Renters Insurance

Getting married often comes with a new place. If you are moving into your spouse’s existing home, make sure you are added as a named insured on the existing homeowners or renter’s policy. This is as easy as calling your agent or insurance company.

 

If you are purchasing a new home, contact your local agent while you are in the process of looking at homes. It is a good idea to have an insurance agent run a quote on your favorite home BEFORE putting it under contract. This is to ensure the property has not had a “location loss” which is an insurance claim on the property. Even if you didn’t live in the home at the time of the claim, location losses can affect your insurance rate or even keep you from getting insurance at all. Using an independent agent will help make sure you are getting the lowest rate by comparing rates from multiple carriers.

Car Insurance

Getting married is a great time to consolidate your auto policies. Having multiple cars on a policy will usually give you deep discounts. Also consider bundling with your home or renter’s insurance to give you an even lower rate.

Life Insurance

Getting married is a major life event where you should reevaluate your life insurance. The thing with life insurance is…the younger you are, the cheaper it is. Now is always the cheapest life insurance will ever be for you! Especially if you are thinking about kids in the near future, life insurance gives you the peace of mind that your family will be taken care of should the worst happen.

Health Insurance

Looking over your health insurance policies is a necessity when you get married. The nice thing is that getting married often offers you many new options. If your employers each offer coverage, compare the prices between keeping your policies separate or putting both of you on one employer’s plan. If neither of you get coverage from your employer, look at getting a policy on the federal health insurance marketplace. Since your household is larger, you could qualify for a larger subsidy to help pay for healthcare costs. Talk to a local independent agent to find out how much you can save.

If you have questions regarding insurance for newlyweds, we are happy to help! Give us a call today at 615-919-1009!

Do I Really Need Renters Insurance?

Many renters think that because they pay monthly rent, everything is included, even insurance. This is simply not the case. Your landlord’s coverage only applies to the building, not all of your belongings. The landlord’s insurance also doesn’t cover you if someone injures themselves on the property and you are found liable. When you consider these two points, you can see the importance of purchasing renters insurance.

Renters insurance quotes

What Does Renters Insurance Cover?

Renters insurance typically has two parts – liability and contents. Liability coverage is required by many landlords, especially apartment complexes. It usually ranges from $100,000 to $500,000 and provides you protection if someone sues you after being injured on the property.

Contents coverage is what protects your belongings. Everything that you move in on moving day is covered by this coverage. When considering the amount of your contents coverage, make sure that you consider high price items such as

          Jewelry

          Designer clothing and shoes

          Musical instruments

          Art

          Guns

          Computer equipment

          Memorabilia

 

I once had a client that only wanted $2000 in contents coverage. However, when I asked more questions, he had over $10,000 in guitars and a piano in his apartment. (It is Nashville!) This would have been a huge problem should a total loss have occurred. Remember those things add up when you are deciding on your contents amount.

How Much Does Renters Insurance Cost?

The best thing about renters insurance is that it is so inexpensive – usually less than $1 a day! Usually when you bundle with your auto insurance, you get a discount on both, making it even more affordable.

There is really no reason not to buy renters insurance. To compare your rate with multiple companies in Tennessee, give our office a call at 615-919-1009 or visit our website today!

Why Is My Car Insurance So Expensive? – Seven Tips to Lower Your Premiums

Car Insurance in Nashville and Murfreesboro

Car insurance is one of those necessary evils. It seems like every time you turn around, your rate is creeping up. However, there are a few things you can do to lower your rate or decrease the chance of your premiums increasing over time.

      1.       Call Your Agent – If you rate is increasing every year, it might be time to shop around. If you are working with an independent agent, they should easily be able to quote you with several other carriers with just a few clicks. Even if you save $15-20 a month, that is around $200 a year. That is a nice little savings in your pocket for one phone call or email!

 2.       Check Your Insurance Rate Before You Buy a New Car – If you are shopping for cars, call your insurance agent with the VIN number of the cars you are considering. Certain makes and models are much more expensive to insure due to repair costs and replacement parts. It might help pare down your choices and save you money in the long run.

 3.       Use an App that Tracks Your Driving Habits – Many carriers have recently come out with cell phone apps that track your driving and give you large discounts for adopting safer habits. These apps run in the background and start automatically when you are in a moving vehicle so you don’t even notice them. Most companies won’t penalize you if you are not the safest driver. You usually get a small discount for simply letting the app run on your phone.

 4.       Stay Ticket and Accident Free – One thing that really will increase your rate is a ticket or at-fault accident on your record. These will usually follow you for three years before your rate will go back down. Slow down and stay aware to keep saving money every month.

 5.       Reduce Coverage on Older Vehicles – If you have an older car that is only worth a few thousand dollars or less, you might think about switching to a liability only policy. As long as you have the money to replace or repair the vehicle if something happens, this might be a good option to lower your monthly expenses.

 6.       Raise Your Deductibles – The higher the deductible, the lower the rate. If you have the money saved should a covered claim occur, raising your deductible could dramatically lower your car insurance rates.

 7.       Make Sure You are Getting All the Discounts You Deserve – Every insurance company has their own list of discounts, so there might be some that you are missing. Check with your agent to make sure you are getting every discount you qualify for with your carrier. Some common discounts are:

          Safe Driver Discount

          Good Student Discount

          Multiple Policy Discount (i.e. Car & Home, Car & Renters, etc.)

          Multiple Vehicle Discount

          Defensive Driving Course Discount

          Drivers Ed Discount

          Good Credit Discount

          Anti-Theft Device Discount

          Occupation Discount (Teacher, Military, Etc.)

          Low Annual Mileage Discount

While the price is not only the only factor you should consider when choosing your car insurance, it certainly helps to have a few more dollars in your pocket every month by following a few easy steps.

If you have questions about car insurance or you would like a no-obligation comparative quote, give us a call at 615-919-1009 or click the button below. We look forward to serving you!

Top 5 Reasons Why You Should Consider Using an Independent Insurance Agent

Finding new home insurance or car insurance can be a lengthy and confusing process. You can spend hours calling agents and entering information into dozens of websites to get multiple quotes. However, there is one way you can save time (and usually money) when looking for insurance quotes – by using an independent agent.

Car insurance quotes in Nashville, TN

In the insurance world, there are two different kinds of agents – captive and independent. A captive agent is an agent that is contracted to sell one company’s brand of insurance products. There are many great captive agents (I used to be one!), but there are huge advantages to using an independent agent when you are shopping for insurance. Below are some of the top reasons to use an independent insurance agent in your quest for quotes.

1.    An Independent Agent Likely Has Many Different Carriers to Choose From

Where a captive agent is only able to sell one company’s products, an independent agent usually has several companies that they work with, giving you options. An independent agent can offer you the best products from different carriers or give you big discounts by bundling your policies with one carrier.

2.   An Independent Agent Can Compare Prices and Save You Money!

Independent agents often use raters that will quote several carriers at once with the click of a button. Rather than having to spend hours contacting 10 different agents and giving them all your information, you can give your information to one agent and get access to several different quotes. This can give you confidence that you are getting the best price for you!

3.   An Independent Agent Can Easily Put You with Another Company if Rates Increase

One of the greatest advantages of an independent agent is that if your rate goes up with your current company, they can easily move you to another carrier without the hassle of having to move agents. This also goes if you generally become unhappy with your carrier. Some agents will even requote you every renewal to make sure you are getting the lowest price they can offer year after year.

4.   Independent Agents Usually Offer Additional Products

Many independent agents offer health insurance, life insurance, disability insurance, surety bonds, and other products that captive agents do not offer. This helps you to keep all of your insurance products in one place, lowering the risk that there are gaps in your coverage.

5.   Independent Agents Work for You, Not the Insurance Company

Independent agents do not work for any one insurance company, so they have your best interest in mind.

Again, while there are some excellent captive agents out there, it pays to consider using an independent agent in your next search for home insurance and car insurance. It could save you a lot of time and money in the long run!

If you are in Murfreesboro / Nashville or surrounding areas, please consider giving us a call at 615-919-1009 or visiting our website – www.advocateinsurancetn.com – for  a free, no-obligation comparative quote. We look forward to showing you the Advocate difference!