When Should You Drop Collision Insurance on Your Car?

Road accidents or collisions can happen at any time. In such situations, having collision insurance coverage can help cover the damages and repairs. However, some people may think about whether it is worth paying for collision auto insurance. Let’s find out.

What Is Collision Insurance?

It covers car damages caused due to collision with another vehicle or object, including rollovers. Irrespective of who is at fault for the incident, it will pay for the damages caused to your vehicle. It includes damage and repairs caused due to man-made mistakes, such as hitting a telephone pole or tree on the road, colliding with a building, or hitting a pothole or curb.

Comprehensive auto insurance coverage is helpful in the event of natural disasters such as landslide, flood, or cyclone.

When Should You Drop Your Collision Insurance?

Here are a few instances you can consider dropping your collision insurance.

  • If your premium exceeds 10% of your car’s value, you can drop your collision coverage.
  • If your car becomes older and you want to buy a new one, you can drop your collision coverage and use that money to buy a new car.
  • If the market value for your vehicle is lower than the deductible on your collision insurance, it will be better to drop it. For example, if your totaled car’s worth is $850 and your deductible is $1000, you would end up paying for the damages.

Just because collision coverage is not legally mandated does not mean you do not need this. It is important to cover the damages resulting from accidents and collisions.

Based on your needs and budget, you can decide whether to have collision coverage. For assistance with all your auto insurance needs and questions, contact the experts at Miller Carlisle Insurance Services in Carlisle, PA. We help you get the right coverage you need.

Understanding Car Insurance Claims

Car insurance claims can help you during an accident, as you can get c0vered for damages caused to your vehicle. However, you need to know how many times you can claim your auto insurance in a year. Is there any limit to the number of claims you make? Let’s check this out.

No-Fault Claims

For legitimate reasons, there are no limits to the number of claims you make. However, this is specifically for incidents that were not your fault.

However, these claims require deductibles. Every time you make a claim, you must pay your specified deductible, and the remaining amount is covered by your insurance. For example, if the damage costs $300, your deductible is $250, and you need to pay that; your insurance pays only $50.

For minor damages, the cost will be paid from your deductible. If you file a car insurance claim for every accident, the insurance provider may increase your insurance rate.

At-Fault Claims

However, if an accident is caused because of your fault, you will have limits on insurance claims. Typically, if you have more than two at-fault insurance claims in three years, either your insurance rate will be increased or you will not be able to renew your policy.

Some insurance providers ignore the first auto insurance claim as part of your forgiveness policy. Sometimes, you need to pay extra to add the forgiveness policy to your coverage. Adding this ‘accident forgiveness’ coverage to your policy is a good idea if you worry about increased premiums.

Comprehensive Claims

If your car gets damaged by a flood or vandalism, you can file a comprehensive insurance claim. This does not affect your premiums unless you make too many claims in a short period.

Before making car insurance claims, you need to determine whether it benefits you. For assistance with all your coverage needs and questions, contact the experts at Miller Carlisle Insurance Services in Carlisle, Pennsylvania. We will help you find the best auto insurance policy.

4 Reasons Why Investing in Life Insurance in Your 30s Is the Best Thing You Will Do

You can buy a life insurance policy to get financial assistance and protection during unexpected events and situations. However, you should purchase it at the right time to enjoy maximum benefits. A great time to get life insurance is when you are in your 30s.

Here are 4 reasons why you should consider getting life coverage in your 30s:

1. You Have Your Family

You might be a parent already or are married and planning to have children. Securing your family’s future is important for you. You must get term life insurance to financially protect them in the event of your unexpected death.

2. You Earn More

After your death, it would be especially difficult for your family to cope with the expenses without your income. However, your life insurance policy might be able to cover some of your lost income.

A policy with a death benefit of 5 to 10 times more than your annual salary would ensure that your family is financially protected after your death.

3. You May Already Have Debts

Whether it is a student loan, mortgage, or personal loan, you need to pay it back on time. Even if you die, your cosigner needs to pay it.

If you have a federal student loan, it will be discharged when you die. However, certain private loan providers might require your cosigner to complete the debt. In such situations, life coverage will help your cosigner or family to pay the debt.

4. You Will Save Money

Your 30s are the perfect time to buy a life insurance policy because age and good health are two important parameters that determine your premium rate. When you are in your 30s, you will be healthy, so you can get a lower premium.

These are a few reasons why buying life insurance in your 30s is a smart decision. If you have additional questions, contact the experts at Miller Carlisle Insurance Services in Carlisle, Pennsylvania. We are ready to assist you with all your coverage needs.

When Should You Drop Collision Insurance on a Car?

At some point, when you have an older vehicle, you might be thinking it’s time to drop collision coverage from your auto insurance policy. There are many reasons why people make this decision, and sometimes, it is best for you.

 

Collision auto insurance covers damage to your vehicle caused by contact with another vehicle or object, including rollovers. Your collision coverage in your policy will cover your vehicle regardless of who is at fault for the damage. Whether you hit a tree, collide with a building, or back into another car, this type of coverage can step in to help.

 

Most insurers recommend dropping your comprehensive coverage when your car’s value diminishes to the point that you cannot buy much coverage. However, you should always consider the effect the complete destruction or disappearance of your vehicle might have. For example, if you use your car daily to get to work, and your financial position would not allow you to purchase a replacement vehicle right away, then keeping coverage could be a wise choice.

 

If your vehicle is older, it might be time to drop comprehensive and collision coverage and put the money you are saving into an account to buy a new car when your current one can no longer go on.

 

Keep in mind that this is unique for each person and situation. For example: If your car is worth $3,000 and you have a $500 deductible, your potential payout would only be $2,500 if your car was totaled and you placed a collision claim. Using the 10 percent rule, if your collision and comprehensive premiums cost $250 or more a year, it is time to consider dropping the coverage.

 

Too many people drop coverage too early in their vehicle’s life, however. Talk to your insurer about this coverage and ways to save on your auto insurance. Do you have additional questions about your car coverage? Contact the experts at Miller Carlisle Insurance Services. Our dedicated team is eager to assist you with all your auto insurance needs today.

 

Analyzing Homeowners Insurance: Does It Cover Rain Damage?

Heavy rains can cause major water damages to your property, including water leaks, flooding, and drain overflows. If these damages are not fixed on time, they can lead to significant problems in the foundation of your home.

When you hire a water damage restoration agency to repair the damages, you must know how much of these costs are covered by your homeowner’s insurance. The following points will help you understand whether your homeowner’s insurance covers water damage.

Rain Damage

Certain damages caused by rain are covered by your home insurance policy. For example, if the rain or storm has caused a leak in your roof, the cost to repair it will be covered by the policy.

However, you won’t get coverage if you already had damage in a wooden pillar on the porch and the rain worsens it further, as it is considered preventable damage that could have been fixed.

Flood Damage

Your regular homeowner’s insurance may not cover flood damage. It will cover only minor leaks, so you will need separate insurance to cover flood damage.

Due to the extent of flood damage and the expenses involved, only some insurance providers offer flood damage coverage.

Other Damages Due to Rain

The extent of damages your property faces depends on the severity of the rain. Generally, most homeowner’s insurance covers damages caused by hailstorms, wind, and lightning.

Consult your provider to understand the type of water damages covered by your insurance. While homeowner’s insurance covers various water and rain damages, they are meant for emergencies. You cannot expect coverage for damages caused by regular wear and tear.

Investing in homeowner’s insurance is necessary to protect your home from unexpected damages. For assistance with all your insurance needs, contact the experts at Miller Carlisle Insurance Services in Carlisle, PA. We help you find the best coverage that suits your needs and budget.

Everything You Need to Know About High-Risk Homeowners Insurance

It takes a lot of capital in building or purchasing your first home. When your home falls into the category of high-risk, it is important to understand the pros and cons of house insurance before selecting one

If you are looking for high-risk homeowners insurance in Carlisle, PA, the following information will help you make an informed decision.

What Is High-Risk Homeowners Insurance?

Your home may be considered high-risk if it is situated in a location that faces extreme weather. Other factors, like old houses, interior damage, and structural problems, are also considered high-risk. A high-risk homeowners insurance policy protects your home from such factors.

Which Factors Influence the Cost of Homeowners Insurance?

The most important factor that can affect your house insurance rates is the location. If you live in a high-crime neighborhood or an area that is prone to natural calamities, your insurance premium will be significantly high.

Most home insurance agencies will quote different rates to you, based on the building’s structure. Your carrier may ask you about the type of roof and the age of your house to determine your premium rates. They even take added security measures into account, such as installing a reliable security system.

The best way to choose an ideal homeowner insurance policy is to compare different home insurance quotes from insurance companies.

How to Reduce the Cost of Homeowners Insurance

Here are a few effective ways to reduce high-risk house insurance costs:

  • Repair your roof or foundation to make your home less risky.
  • Install a reliable security system if you live in a high crime area.
  • Look for discount options from insurance companies.

Choosing the best homeowners insurance in Carlisle, PA, is now easier than ever! Contact the experts at Miller Carlisle Insurance Services. Our team will be happy to answer all your questions and assist you with all your coverage needs.

When to Purchase a Life Insurance Policy

The best time to get life insurance is when you are healthy and have no underlying conditions that may increase your insurance premium. However, people realize this quite late. It is important to buy insurance while you are still young.

Here are some fundamental steps to follow when buying a life insurance policy:

Buying the Right Life Insurance Policy

If you are concerned about the premium rate, consider getting a term life insurance for short-term and cheaper coverage. The general recommendation when choosing a term is to get enough insurance to cover you until you retire. You can contact your local insurer for the best life insurance deals.

If your family is dependent on you financially, you may want to secure their future after your death. It is best to buy permanent life insurance, which will provide your loved ones with some savings to clear any debts or expenses.

If you do not have any dependents that rely on your income, you may not need life insurance. However, it is wise to get disability insurance so that you’re protected from any injuries that affect your ability to work.

Why You Should Buy Life Insurance at a Younger Age

Your Premium Costs Increase with Age

Insurance companies charge less from younger customers as compared to older ones. This is because younger people are likely to lead healthier lives and claim lesser than older people.

You Can Save a Lot of Tax

Buying life insurance in Carlisle, PA, can result in tax benefits. The government allows taxpayers to have some relaxation if they have purchased an insurance policy.

You Can Live a Stress-Free Life

Knowing that your family is protected in case of any financial emergencies after your death can give you great peace of mind.

Investing in a life insurance policy will be the best decision of your life. Do you need assistance with term insurance in Carlisle, PA?  Contact the experts at Miller Carlisle Insurance Services. We are ready to address all your questions and concerns!

Protect Your Identity from Hackers

Research suggests that more than 14 million Americans were the victims of identity theft in 2018, and the numbers only continue to rise. With data breach cases growing quite frequently, it’s important that you take all the necessary steps to protect your identity. Here’s how:

Shred Mail Documents and Personal Details

You risk personal information theft if you are not careful when discarding sensitive documents. By just digging through your trash, identity thieves can impersonate you to steal your benefits and commit crimes. Use a cross cutter shredder to destroy your documents before discarding them.

Leave Your Social Security Card at Home

To avoid Social Security identity theft, do not carry your card in your wallet or enter your number into your phone or laptop. Never give out your number in unsolicited calls or emails.

Monitor Your Credit

Keep tabs on your credit situation regularly and set up an alert feature. Order free credit reports and review them thoroughly. In case of any red flags, report identity theft immediately.

Reduce Social Media Footprint

Everyone loves social media, and so do fraudsters. Be wise about what you post, and make sure your accounts are private. Refrain from sharing your birth date as it makes it easy for scammers to guess your passwords.

Use Encryption

Encrypt all wireless networks and sensitive information with a unique username and password. For easy steps to use protection and encryption tools on your computer and digital data, check out some tools such as VeraCrypt and Bitlocker.

Activate a Two-Factor Authentication

Two-factor authentication is a must for online banking, email accounts, and cloud storage. It protects you from any instances of fraud by reconfirming your identity.

Use Public Wi-Fi Cautiously

Public Wi-Fi does not guarantee identity theft protection, so be cautious while using them. Never use public Wi-Fi for banking or sharing sensitive information and install a VPN for an added layer of security.

Consulting the best identity theft protection services have become a necessity. If you’re looking to get covered, contact the experts at Miller Carlisle Insurance Services. Our dedicated team is happy to help you with all your coverage needs today.

What You Need to Know About Insurance Coverage

As a business owner, you always want to make sure that your company is safe from harm. However, many businesses do not invest in insurance coverage, and when they get sued, they face many problems.

Here is what you need to know about insurance coverage when buying a policy.

Navigating Insurance Coverage Limits 

Always set insurance coverage limits by first understanding what your company would end up paying for a single claim. Higher coverage comes at a higher cost. Decide the limit by balancing your budget with the maximum risk that can be mitigated in your single limit coverage budget.

Popular Types of Business Insurance Coverage

The most popular type of business coverage is general liability insurance, which covers aspects like the loss of electronic data, customer injuries, and defense costs, in the case of a lawsuit. It does not cover the injuries of your employees or property loss.

In professions like consulting or law, where consumers and clients rely on the professional advice offered by your business, another type of insurance to be aware of is errors and omissions insurance.

When the Claim Is Higher Than Your Coverage

At times, when setting insurance liability limits, the cost of a claim can be higher than your single limit coverage. In such cases, the difference will need to be borne by your company.

As more claims are made against your business, your premiums will get higher. It’s essential to budget for this progression as your business grows. Set aside a reserve fund alongside a policy in case the claim is bigger than the coverage.

Reach Out for Expert Advice

The nuances of business insurance policies depend on the type of business and risks involved. Make sure you get expert advice to understand insurance liability limits and choose a plan that adequately protects your business.

Want to learn more about insurance coverage and how to secure a risk-free future for your business? Contact the experts at Miller Carlisle Insurance Services. Our team is happy to answer all your business insurance questions!

Why Getting Life Insurance Is Beneficial!

In this uncertain and unpredictable world, all you can do is act in the present and prepare for the future. Getting life insurance is one such preparation that ensures financial assistance for your beneficiaries.

Opting for life insurance is essentially a selfless act of love that you do for your dear ones. The overwhelming feeling of loss that people close to you experience when you pass away cannot be put into words, but life insurance can help alleviate some of that grief.

Some benefits that life insurance provides to its beneficiaries are:

Pay Funeral Expenses

According to Lincoln Heritage Funeral Advantage, the average funeral costs between $7,000 and $12,000. This is a substantial amount for the average American family. A life insurance policy can help to cover these expenses.

Pay Educational Expenses

If you have kids or any person dependent on your earnings to pay their school, college, or other educational expenses, life insurance cover can help with those expenses upon your death.

Pay Off Mortgage

If you are paying your home’s mortgage with your earnings, it can be a tremendous burden for your partner once you are gone. Your life insurance cover can then take care of the mortgage. When you pay for life insurance, you are generally also paying for the event where your loans get cleared rather than falling on the cosigners.

Take Care of Your Medical Expenses

Not all life insurance policies are for the event of your death. Sometimes they can cover your medical expenses if you are diagnosed with a critical illness and are unable to work.

There are many different life insurance policies, each with various benefits, many of which overlap across plans. Read through all the documents carefully before making a decision. For assistance with all your insurance needs, contact the experts at Miller Carlisle Insurance Services.