Last updated 6 months ago
Auto insurance providers use a variety of statistics to determine Lynnwood drivers’ policy rates. There are five main areas that insurance agents factor in when calculating insurance premiums:
Driving Habits
By checking your driving records, insurance companies can see how many accidents you have been involved in and the number of moving violations that you have received. More cautious drivers will generally have less expensive insurance premiums.
Type of Vehicle
Premiums for auto insurance are based on the value of your vehicle. If your car has foreign parts that will be more expensive to repair, then your rates will reflect that cost difference. In addition, the model and make of the vehicle will tell the insurance company whether theft is more likely to occur.
Personal Information
Age is a major factor in insurance rates. Teenagers and male drivers tend to have higher rates, while women tend to pay lower premiums. After turning 25, a driver’s insurance rates will usually drop significantly. What a person does for a living and where they are driving also factor into their insurance rates.
Policy Choices
While state minimum liability limits may be enough to legally drive, they are not adequate coverage. Deciding on the proper limits & deductibles can be difficult, so it’s important that you have a good independent agent to help you with these decisions.
Credit Profile
In certain states, your credit score can be used in determining your insurance rate. This is because people who have more stable and higher credit scores statistically have less claims.
PLC Insurance can provide competitive rates for home, auto, and business insurance. To set up a meeting with one of our insurance agents, contact our office at (425) 329-3937. We are located at 4211 Alderwood Mall Blvd. #210 Lynnwood, Washington 98036.
Last updated 6 months ago
You may have read about this unfortunate event that occurred late September. It’s events like this that make insured’s worried about their insurance coverage. So is an event like this covered by a typical homeowner’s policy?
The answer is yes, damage to your real and personal property caused by an explosion, whether it emanated at/in your premises or nearby is covered by your homeowner’s insurance policy. This coverage peril has been one of the oldest perils always covered in insurance policies. The primary exclusions in virtually all homeowner’s policies are earthquake, flood and earth movement.
Last updated 6 months ago
Imagine how devastating it would be to lose your home in a fire. Now imagine not being able to rebuild it completely because you didn’t have the correct amount of insurance. According to Marshall & Swift/Boeckh, publisher of the Residential Cost Handbook, 64 percent of homes in America are under-insured by an average of 27%.
Selecting the proper amount of coverage is the single most important decision you can make with your Homeowners policy. Without it, you may not have enough coverage to rebuild after a total loss. This is called “insurance to value.” Below are some explanations and tips to help you make the right choices for your needs — and remember, if you need help, we’re just a phone call away!
What is insurance to value?
Insurance to value is the relationship between the amount of coverage selected (typically listed as “Coverage A” or “Dwelling Coverage” on your policy declarations page) and the amount required to rebuild your home. Insuring your home for anything less than 100% insurance to value could mean you wouldn’t have enough coverage to replace your home in the event of a total loss.
Why is the cost to rebuild different from the market value?
A home’s market value reflects current economic conditions, taxes, school districts, the value of the land and location, and other factors unrelated to construction cost. The cost to rebuild your home is based only on the cost of materials and labor in your area. It is important that you insure your home based on its reconstruction cost, NOT its current market value.
Why is reconstruction more expensive than new construction?
New-home builders typically build many homes at once, and solicit bids from various sub-contractors to receive the best pricing. Their business model is based on economies of scale. For example, they may purchase 20 bathtubs at once, securing a lower unit cost. These economies of scale don’t exist when building a single home.
How can I make sure I have the correct amount of insurance?
- Work with your PLC agent to provide detailed information at time of purchase to be sure that you receive a thorough and accurate quote.
- Ask us about additional coverage options that may be available.
- · Tell us about any changes or improvements that you make to your home.
- Feel free to contact us for an updated insurance to value for your home.
Your PLC agent is ready to answer any questions you might have regarding the proper valuation of your home.
Last updated 6 months ago
Social networking is sweeping the world and has millions of Americans sharing their photos, favorite songs, and recent happenings on Facebook. But be careful of the details about yourself that you make available on these sites because you never know who might be reading them. We all know that questionable pictures and comments have cost people their jobs, but criminals are increasingly using social media sites to find their next victim. Here are 5 things to avoid when posting.
Your birth date and place – Giving your birth day is fine, but your exact birth date and place are two key elements in predicting most, if not all of your social security number
Home address – This seems obvious, but an estimated 40% of social networking users share this information.
Vacation Plans – Posting that you will be away from your home is like giving criminals an invitation to burglar your home. Post pictures after your trip.
Confessionals – You may hate your job, dislike your boss, or have undisclosed casino winnings, but Facebook is no place to announce this. Employers regularly use social media sites to determine who to hire or promote and even who to fire. In 2010, an estimate 8% of companies fired someone for misuse of social media.
Password Clues – Anyone who has online accounts has answered many security questions with things like mother’s maiden name, street you grew up on, first pet etc. If you have the answers to those questions on your Facebook profile, you’ve given criminals an easy way to guess your passwords.
Protect yourself by using the proper security on your social media sites, and be careful what you make available to the rest of the world. You never know who is reading.
Last updated 7 months ago
Do you know the difference between an independent insurance agent and a captive agent?
If you reside in the Lynnwood area and are looking for personal or commercial insurance, then let PLC Insurance help you hunt for the right company. Our independent agents consistently find our clients great deals on home, auto, and commercial insurance, so come by our office at 4211 Alderwood Mall Blvd, Ste 210, Lynnwood WA, today. For more information, call us at (425) 329-3937 or visit our website.
