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Pic - Risks of Lowering Auto Coverage

Lowering Coverage
If you have your eye on expenses, you may be tempted to trim your auto insurance bill by dropping or lowering your coverage—especially if you have not recently had a claim. Dropping some of your coverage—like comprehensive or collision—to the lowest legal level can cut your premium, but it could also put you at serious risk.

Study the following guidelines and work with Preferred Insurance Services, Inc. to ensure that the coverage you purchase is enough to protect your assets.
Which Coverage Do I Need?
An automobile insurance policy is designed to provide you with a level of protection against property, liability and medical costs if you are involved in an accident.

  • Property coverage pays for damage to or theft of your car.
  • Liability coverage pays for your legal responsibility to others for bodily injury or property damage.
  • Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.
  • Under-insured motorists coverage pays for property damage and bodily injury caused by another driver whose coverage is insufficient to cover damages suffered.

Selecting the correct liability limits is fundamental. 100/300/50 means you are covered for up to $100,000 in bodily injury coverage per person, $300,000 in bodily injury coverage per accident and $50,000 in property damage per accident.
Many states have minimum liability limits of 25/50/10, although some states are higher or lower than this. While it may lower your premium, reducing your liability limits to minimum legal levels and dropping under-insured motorists coverage could open you up to substantial risk.
Collision Insurance—Know the Worth of Your Car
Your policy will not pay for repairs that exceed the value of your vehicle. For this reason, if you are driving a vehicle that isn’t worth more than a few thousand dollars, it may not make sense to purchase collision coverage. Preferred Insurance Services, Inc. can help you determine whether or not collision insurance makes sense for you.
Protecting Your Well-being
There are many reasons to buy insurance, but the best one is the financial security it provides. You insure yourself to protect your assets. A large accident could easily exceed low insurance limits, putting your house, savings and investments at risk. If you’ve dropped underinsured motorist coverage, you could be risking even more. Accidents happen to cautious drivers, too, and having adequate insurance can save you from serious financial burden should one happen to you.
We can help you determine which automobile insurance coverage is needed and what limits to buy. Contact Preferred Insurance Services, Inc. at (703) 359-5910 today to discuss your options.

 

Best Ways to Save on Your Premium:

  • Consider raising your deductible
  • Keep up your good driving record
  • Drive less to qualify for a low-mileage discount
  • Drive a car with safety features such as anti-lock brakes, airbags, etc.
  • Install an anti-theft device
  • Ask about our multi-policy discounts

 

Selecting Liability Limits
Most states require car owners to purchase a minimum of bodily injury and property damage liability insurance. In the event of a serious accident, you want enough insurance to cover a judgment against you in a lawsuit, without jeopardizing your personal assets, such as your home and savings.
By purchasing liability limits to account for both your current assets and future net worth, you can help protect yourself against this risk. We will help you select limits that meet your unique needs.

Download the attached PDF to share with others.

Avoid driver distractions

Are You Putting Yourself and Others At Risk Due to Driver Distractions?

When was the last time you talked on your cell phone while driving or ate behind the wheel? If you are like many drivers, you have made it a habit, putting yourself and others at risk and possibly breaking the law.   Here are some tips for playing it safe and avoiding driver distractions.

Dangers of Multi-tasking at the Wheel

While there may be little you can do to control another person’s driving, you can certainly control your own distractions. To minimize your risks while driving, avoid:

  • Talking on a cell phone or texting
  • Touching up makeup or hair in the rearview mirror
  • Tending to smoking materials
  • Adjusting the radio
  • Eating
  • Reading directions or operating a GPS

Mobile Offices

While many drivers’ attention may be diverted as a result of multi-tasking behind the wheel, nothing tops the cell phone as a driver distraction. Many drivers use their cell phones to turn their cars into mobile offices, to catch up with friends and loved ones, or to simply squeeze more “productive” time into their day.

The Danger

Cell phone use is especially dangerous because drivers typically cannot divide their attention between the road and their conversation or text. Even if you use a hands-free device, you risk being distracted and inattentive.

It’s Against the Law

Many states have laws outlawing the use of cell phones and texting while driving. To avoid a ticket and a potentially dangerous accident, do not use your cell phone in any capacity while driving. If you must make a phone call or text, pull off the road safely and then do so. No message is more important than saving someone’s life.

Defensive Driving

In addition to avoiding distractions, give driving your full attention by driving defensively to minimize your risk of an auto accident. Driving defensively means being aware of the movement of drivers around you and making adjustments to your driving accordingly.

Staying safe behind the wheel is simple. The two best strategies to beat auto accidents due to driver distraction while driving are:

  • Avoid any activity that diverts your full attention from the road, and
  • Drive defensively!

Download and print and share this with your family and friends

 

You and your family probably spend a considerable amount of time in your home, playing in the backyard and driving to school or work in your car. Your house and automobile are two of the most valuable purchases you’ve made, and it makes sense that you want to protect your home and automobile with insurance coverage.

Download the attached PDF to learn more.

When buying a new car, most buyers have safety in mind.  Check out which vehicles scored the highest in safety ratings.

Following this link to see what Erie Insurance has to say.

Families

Umbrella Liability Coverage:  Dollar for dollar, the personal umbrella liability policy is considered one of the best personal insurance buys. Find out why!

It’s an unfortunate fact that accidents happen—and it’s not uncommon for jury awards and out-of court settlements to run into the millions. While it’s difficult to pinpoint the monetary consequences of the risks you and your family take each day, are you certain your current liability insurance offers you enough protection?

For example, what if:

  • Your teenager runs a stop sign, causing a serious accident?
  • A deliveryman falls on your sidewalk and is seriously injured?
  • A babysitter is injured by your otherwise friendly dog?

If you are found to be legally responsible for injuring someone or damaging their property without a personal umbrella liability insurance policy, anything beyond the limits of your standard liability insurance coverage will come out of your own pocket. Standard liability insurance generally includes homeowners, renters, auto and watercraft policies.

Like an umbrella that protects you from the rain, a personal umbrella liability policy provides an extra layer of insurance coverage over your standard liability policies. It protects your personal assets by kicking in when your standard liability coverage is exhausted.

How Much Coverage Do I Need?

You’ll want to take into consideration not only your total personal assets but also your potential personal risks. For example, do you operate a business in your home and have employees and clients to your home on a regular basis? Does your profession or location of your home make you an easy target for a big settlement? Determine your personal risks to evaluate the amount of additional liability coverage that makes the most sense for you.

Coverages start at $1 million, and can go as high as $10 million. When considering the value of the umbrella policy, discuss your personal needs with Preferred Insurance Services, Inc..

How Much Does Coverage Cost?

Additional liability insurance is inexpensive when compared to the added coverage you gain. Depending on the policy value and your personal risk factors, such as recent auto tickets, your credit rating, etc., a $1 million umbrella policy typically costs about a dollar per day. Costs go up an additional $50 – $75 for each million thereafter.

Don’t wait for a rainy day to find out you need the additional protection a personal umbrella liability policy can provide. Call Preferred Insurance Services, Inc. today at (703) 359-5910 to discuss your unique needs and learn about all of our liability insurance solutions.

Get the Best Rate

It’s a good idea to source all your liability policies from the same insurance company; ask about our multi-policy discounts.

Who Needs an Umbrella Liability Policy?

You do! Contrary to popular belief, umbrella liability policies are not just for the wealthy. At Preferred Insurance Services, Inc., we recommend that everyone should consider carrying an umbrella policy. If you engage in a high-risk activity or hobby that increases your odds of getting sued (such as having a teenage driver, owning a swimming pool or entertaining frequently), it is wise to supplement your insurance with a personal umbrella liability policy.

Know your coverage, know your risks.

Download this PDF to share with others.

Pic - Risks of Lowering Auto Coverage

Lowering Coverage
If you have your eye on expenses, you may be tempted to trim your auto insurance bill by dropping or lowering your coverage—especially if you have not recently had a claim. Dropping some of your coverage—like comprehensive or collision—to the lowest legal level can cut your premium, but it could also put you at serious risk.

Study the following guidelines and work with Preferred Insurance Services, Inc. to ensure that the coverage you purchase is enough to protect your assets.

 
Which Coverage Do I Need?
An automobile insurance policy is designed to provide you with a level of protection against property, liability and medical costs if you are involved in an accident.

  • Property coverage pays for damage to or theft of your car.
  • Liability coverage pays for your legal responsibility to others for bodily injury or property damage.
  • Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.
  • Under-insured motorists coverage pays for property damage and bodily injury caused by another driver whose coverage is insufficient to cover damages suffered.

Selecting the correct liability limits is fundamental. 100/300/50 means you are covered for up to $100,000 in bodily injury coverage per person, $300,000 in bodily injury coverage per accident and $50,000 in property damage per accident.

 
Many states have minimum liability limits of 25/50/10, although some states are higher or lower than this. While it may lower your premium, reducing your liability limits to minimum legal levels and dropping under-insured motorists coverage could open you up to substantial risk.

 
Collision Insurance—Know the Worth of Your Car
Your policy will not pay for repairs that exceed the value of your vehicle. For this reason, if you are driving a vehicle that isn’t worth more than a few thousand dollars, it may not make sense to purchase collision coverage. Preferred Insurance Services, Inc. can help you determine whether or not collision insurance makes sense for you.

 
Protecting Your Well-being
There are many reasons to buy insurance, but the best one is the financial security it provides. You insure yourself to protect your assets. A large accident could easily exceed low insurance limits, putting your house, savings and investments at risk. If you’ve dropped underinsured motorist coverage, you could be risking even more. Accidents happen to cautious drivers, too, and having adequate insurance can save you from serious financial burden should one happen to you.
We can help you determine which automobile insurance coverage is needed and what limits to buy. Contact Preferred Insurance Services, Inc. at (703) 359-5910 today to discuss your options.

 

Best Ways to Save on Your Premium:

  • Consider raising your deductible
  • Keep up your good driving record
  • Drive less to qualify for a low-mileage discount
  • Drive a car with safety features such as anti-lock brakes, airbags, etc.
  • Install an anti-theft device
  • Ask about our multi-policy discounts

 

Selecting Liability Limits
Most states require car owners to purchase a minimum of bodily injury and property damage liability insurance. In the event of a serious accident, you want enough insurance to cover a judgment against you in a lawsuit, without jeopardizing your personal assets, such as your home and savings.
By purchasing liability limits to account for both your current assets and future net worth, you can help protect yourself against this risk. We will help you select limits that meet your unique needs.

Download the attached PDF to share with others.

kidsdriving

Besides our spouses,  our children are the most important people in our lives, not to mention that we love them and do not want them to get hurt. Unfortunately, statistics show us that accidents involving teenagers are disproportionately high.

With the advent in the last decade of distracted driving behavior, parents need to more keenly focus on teaching their children the dangers. Using a cell telephone for any reason while driving, including sending or reading text messages, or going onto the Internet to search for something or playing games, should be strictly forbidden. Texting IS MORE dangerous than driving while intoxicated!

Feel free to download the Safe Driving Contract and add to or delete from it, as it might best suit your circumstances. Good luck to your child!

Note: If you do not have children ready to drive, please share this with someone who does.

It’s an unfortunate fact that accidents happen—and it’s not uncommon for jury awards and out-of court settlements to run into the millions. While it’s difficult to pinpoint the monetary consequences of the risks you and your family take each day, are you certain your current liability insurance offers you enough protection? (more…)