Homeowner insurance

Insurance can be a pain to secure at an affordable rate, but the benefits are immeasurable. Not to mention, in most places it’s actually illegal to not have insurance! Read on for some strange facts you probably didn’t know about insurance.

  1. Earthquakes and floods generally aren’t covered by homeowner insurance. Only storms with hail, tornadoes and wind damage are covered. You should make sure you’re familiar with exactly what your policy covers.

  2. Always have car insurance, because if it lapses, it can be an indicator to companies that you’re a risk.

  3. Your car insurance rates will increase with each speeding ticket you receive.

  4. Affordable insurance for cars owned by people 16 to 25 is almost impossible to come by, as they have the highest rates.

  5. Drivers of hybrid vehicles often get discounts since research shows they are less likely to be involved in an accident.

  6. If you’re insured privately, most companies pay 50% of costs if you get into a crash.

  7. From 2007 to 2011, auto insurance expenditure dropped $2, from $799 to $797.

  8. The average claim for property damage was $3,231 in 2013, while the average claim for bodily injury was $15,443.

  9. Affordable home insurance pays off: 7.2% of insured homes had a claim in 2012. A poll found the 95% of homeowners had insurance, while only 37% of renters had insurance.

  10. The most ticketed car in America at the moment is a Subaru WRX, with more than one-third of owners surveyed saying they got a ticket recently.

  11. Don’t forget that your credit score doesn’t only impact whether you can buy a car or not. It will also affect your insurance rates.

  12. Be careful and pay attention to your policy guidelines, because your insurance company can drop you at any time.

  13. One last tip: should you choose to switch policies, make sure you cancel your old one, or it could affect your credit score (due to non payment).

If you’re unsure of how to get insurance , contact a broker today, and get yourself on the right track and covered! Affordable insurance will be invaluable when it comes to your assets.