Common insurance mistakes can cost you!
Tips to save you time and money...

• Not carrying replacement cost coverage on your home or personal property under your homeowners or tenants insurance. This could be very costly at the time of a claim - without it you could receive less than enough to replace your home and/or its contents.

• Underinsuring to save money. Carrying low limits of bodily injury and property damage liability is not the way to save money on your auto insurance. A single accident could endanger your personal assets, your home or other property if you have a serious accident and have too little coverage.

• Carrying low limits of Uninsured Motorist coverage. You could find yourself with too little coverage to cover injuries you or your passengers sustain if you are involved in an accident with someone who is uninsured or underinsured. The savings for lowering this type of coverage are just not worth it.

• Carrying low deductibles for comprehensive and collision. Having higher deductibles on your vehicles could save you money, particularly on collision coverage for higher value vehicles. Most insurance companies surcharge your policy 30% if you have an accident with a collision pay-out over $400. A higher deductible makes good sense.

• Failing to schedule coverage for Jewelry, Watches, Furs, and other high value property. Homeowners insurance limits coverage for these types of property for losses from theft usually to either $1,000 or $2,500 maximum. High Value Items, Collections and Musical Instruments should be listed separately on your homeowners policy to afford proper coverage.

• Over-insuring your home. This is one of the most common mistakes we see. Often an agent will write a policy for the home's purchase price (which usually includes the value of your land and is based on market value). Policies that are written without the agent measuring the home to calculate the home's replacement cost may have the wrong amount of insurance. Often these homes are over-insured. Coverage for more than the home's replacement value is of no benefit to you since you cannot collect it. As a result your pay significantly more for homeowners insurance than necessary.