Here we are, nearly in April, and there has been far too little rainfall in the past three months. The fire season will burn brighter and longer than previous years, and there is only so much your insurance will cover. Remember: If accidents occur because the owner did not keep up reasonable maintenance or neglected basic safety issues, then the insurance provider may hold them liable for any damage that is caused. That is why we have provided you with 10 different ways you can fireproof your home while doing this year’s spring cleaning. Continue Reading →
Archive | March, 2012
Times can be tough, even in a state of slow economic recovery, especially for homeowners across America. Right now, homeowners throughout California are complaining about the outrageous rates required by the forced homeowners’ insurance policies purchased by their mortgage lenders.
According to Insurance Commissioner Dave Jones of California, these policies are “at a price higher than insurance they could obtain themselves”. Continue Reading →
Last week we informed you about how your local firehouse ratings could affect your insurance. This week, we wanted to cover growing local concern over recently released fire hazard maps in the Orange County area. The new maps indicate that a much wider range of populated neighborhoods are deemed high fire severity zones, and have caused many homeowners from Villa Park to Mission Viejo to voice their concern. Could this new data provide insurance companies with a reason to raise their rates? Continue Reading →
When you go on a trip the last thing you want to worry about is rental car insurance. You have already booked the flight, made reservations at the hotel, and now you just need to pay for your transportation at your destination. Should you spend the extra money to purchase rental car insurance, or should you reserve that money for a special meal or souvenir? Well, that depends on your insurance company, as well as the polices of the rental car service. Either one could suffice, but the problem is not knowing which one is going to provide you with coverage in case of an accident.
Most rental car companies offer a collision damage waiver, while some countries (like Ireland) require it, but each company has their own set of policies. Some questions to ask when thinking of purchasing collision damage waivers are:
- Will I be liable for any damage that occurs during an accident?
- Does this agreement cover theft? Repairs?
- If there was an accident, will this waiver cover the cost of not being able to use the car?
- How much will be covered? What is the top dollar amount?
- Be sure to cover any local scenarios as well, such as political or environmental hazards.
The same goes for your insurance provider. Research your company’s policies to see if your rented car has the same coverage as your own. You wouldn’t want to assume your insurance covers your rented car only to find out that the rental has a much different deductible than your own. Or worse yet, find out that your insurance does not cover rentals and then having to pay for the damages yourself. Keep in mind that your rates may increase if you use your own insurance to cover a rental accident.
However, if neither company can cover your rental car, or you wish to increase the coverage of your insurance, then purchase the rental car with a credit card. Some credit card policies have a built-in rental car insurance coverage and can take care of some, or all, of your bill.
And parents with college-age kids—if they are going on a Spring Break trip, make sure you do this research before they get to their destination! You know they’re not going to ask the right questions, and you’re probably the one who will get stuck with the bill if, heaven forbid, there is an accident or theft.
The bottom line is to find out what your policies offer when you are about to travel. A little research could help you gain the money you were looking to save in the first place. If you have any further questions or need help investigating these policies, please feel free to contact us at BMR Insurance Agency.