What Caused My Car Insurance Rates to Change?

Year after year, auto insurance policy premiums seem to always be going up. You may not be doing anything different, but you are still affected. There are certain situations in which changes in your personal life may cause your rates to fluctuate. Understanding how these changes affect your insurance will explain a lot when you take a moment to go over your policy. Stay in contact with your insurance agent and ask questions whenever they arise. It’s better to stay informed than to constantly worry.

What Causes Rate Fluctuations?

Several factors can cause your auto insurance premiums to fluctuate. Some of the most important factors considered in determining premiums include:

  • Marriage/divorce
  • The birth of a child
  • Death of a spouse
  • Adding a student driver
  • Major illness or health issues
  • Your credit
  • Increase in your income

Experiencing any of these lifestyle changes can cause an increase or decrease in your premiums. Talking to your agent will help you understand why the fluctuation occurs. They can also help you take advantage of any discounts you may be eligible for, such as safe driving discounts.

Why Does It Continue to Increase?

Other outside influences will cause your insurance rates to increase. This will happen no matter what you do. A few of these factors include:

  • Where you live
  • The environment where you drive and park your vehicle
  • Your vehicle itself

Upgrading your vehicle is one of the most common causes of an insurance spike. If you have taken a loan, you will be required to purchase comprehensive insurance coverage to protect the bank’s investment. These fluctuations deal more with the world around you instead of your personal situation.

Talk to Your Agent

Your agent is the first person you should talk to when you have questions concerning your car insurance premiums and how they are determined. Ask them to perform an audit on your policy and go over each part of the policy, point by point. If you see something you don’t understand, make sure they explain it to you. There are times when your agent may be able to save you some money. Student driver discounts and bundling all of your policies into one are just two ways you can save money on your monthly premiums.

Understanding your auto insurance policy and why your premiums change will help you budget properly. If you have questions about why your premiums change and what you can do to keep them within a manageable range, contact the experts at James Page Insurance today. We are ready to assist with all your insurance needs.

If you are a diabetic, you may have concerns about whether or not you qualify for life insurance. When you have questions, your agent will help you find the answers you need.

Diabetes is a serious medical condition. There are two types of diabetes, Type 1 and Type 2. With today’s medical advancements, individuals with either form of diabetes are living longer, more productive lives. Understanding how to manage your condition is the first step in reducing your risk of a life-threatening event. Individuals with both types of diabetes are now eligible for various types of life insurance policies. The key is working with both your doctor and your insurance agent to ensure everyone is on the same page and that you can manage your condition properly.

Are Diabetics Eligible for Life Insurance?

Advancements in medical treatment have made it possible for diabetics to be eligible for life insurance. The ability to properly manage your diabetes through diet, medication and insulin has dramatically reduced the risk of life-threatening events. Insurance companies are now more comfortable than ever in offering diabetic patients the life insurance coverage they deserve. If you are diabetic and interested in learning more about life insurance, you should immediately reach out to your insurance agent to see what they have to offer.

What Factors Are Considered?

Several factors are considered when determining if a diabetic person is eligible for a life insurance policy. These factors include:

  • A person’s age
  • The type of diabetes they have been diagnosed with
  • The severity of their condition
  • Their treatment plan and whether or not it is under control

An extensive review of a person’s medical records may be required. Keeping your agent up to date on what is going on with your health is extremely important. Maintaining control of your diabetes is easier now than it has ever been before. If you work with your doctor and report any changes to your insurance agent, you will be able to live with your condition and have the life insurance you need to protect your family.

The Overall Cost

When covering patients with diabetes, especially Type 2, there are two types of coverage you have to consider.

  • Standard
  • Preferred

A standard policy is more expensive and is often easier to get if you are younger. It isn’t as outrageously priced as many people think. Older individuals may be more likely to qualify for the preferred life insurance policy options. To make the right choice, you will have to go over your options carefully with your insurance agent. Understanding the difference between the two policies is important. Asking questions as they arise will also help you to make an informed decision.

You can get affordable life insurance even if you are a Type 2 diabetic. Understanding the risks involved with diabetes and also knowing how to properly manage your disease will help you get a policy you can afford. If you need assistance with your life insurance coverage, contact the experts at James Page Insurance. We’re always available to answer all your insurance-related questions.

Here's a complete beginner's guide to motorcycle insurance that will help you avoid major financial pitfalls and protect your precious two-wheelers.

Like your automobiles, your two-wheelers are precious adventure tools that you don’t want to see grounded or ruined. Also, considering the risks associated with riding your bike and accident-related fatality, you need insurance coverage that will protect you and your motorcycle.

Here’s a complete beginner’s guide to two-wheeler insurance that will help you avoid major financial pitfalls.

Motorcycle Insurance Requirements

It is a requirement in most states that motorcycle owners should carry liability coverage, which pays out for others’ injuries or damages if you cause an accident. Some states also require drivers to carry bodily injury liability, which covers passengers. Uninsured and underinsured motorist coverage pays out for injuries resulting from an accident caused by a driver who is either uninsured or has insufficient insurance.

What Does Motorcycle Insurance Cover?

Primarily, motorcycle insurance covers you and your motorcycle in the event of an accident, theft, or other perils. Usually, the minimum amount of liability for your motorcycle insurance is the same as your state’s car insurance minimum requirements. However, buying additional liability beyond your state’s minimum requirements will help you pay for legal costs and claims as well as protect your assets if you’re sued over an accident. Confirm with your insurer if your bodily injury liability insurance covers passengers.

Additionally, some states require riders to carry passenger liability, while some insurers offer property damage as a stand-alone coverage and not bundled with an uninsured or underinsured motorist.

 Motorcycle Insurance Coverage Options

Standard auto insurance has similar coverage options as motorcycle insurance. Usually, coverages include liability and uninsured or underinsured motorist, while additional coverage options are available with most insurers. These options include:

  • Collision: If you have a collision with another motorcycle, this coverage option pays for repairing your bike. However, it does not include repair of the third party’s bike or other stationary objects.
  • Comprehensive: If your motorcycle is lost to theft or damaged due to vandalism, animal jam, hailstorm, or falling objects, and not collision, comprehensive coverage pays for the repairs.
  • Medical Payments (MedPay): Regardless of who is at fault, MedPay pays the medical bills to treat an injury you sustain in an accident with your motorcycle. It does not, however, include damages due to lost wages and other expenses. Although, MedPay could help out if you don’t have health insurance.
  • Personal Injury Protection: Pays for medical bills of injuries you, your passenger, or pedestrians suffer in an accident regardless of the person accountable for it. Because of their high rate of accidents, some states may not allow insurance companies to sell the coverage to motorcyclists. However, insurance companies offer add-on options, and some may offer one or more as part of their standard policies.
  • Trip Interruption Coverage: If you have ever imagined your bike being disabled on a long road trip, usually 100 miles away from home, trip interruption coverage helps to foot the bills for your transport, lodging, and feeding.
  • Coverage for Custom Parts, Equipment, and Accessories: Popular in most states, insurers add this coverage with comprehensive and collision insurance. It typically costs up to $3,000 but can go up as much as $30,000 if you add accessories that customize your bike. This coverage pays to replace your bike’s accessories at the aftermarket value.
  • Transport Trailer Coverage: If you have a trailer attached to your motorbike and it is damaged in an accident, this coverage pays up to $7,500 for repairs.
  • Roadside Assistance: Roadside assistance will make sure you don’t suffer when your bike suffers an emergency breakdown due to a flat tire, battery failure, electrical or mechanical fault. It covers the costs of towing and labor.

 Why Do I Need a Motorcycle Insurance?

Nearly all U.S. states require riders to carry motorcycle insurance with minimum coverages, including bodily injury and property damage liability. Please do not assume that your auto insurance covers your motorcycle because it doesn’t. If you are involved in a serious accident and lack motorcycle insurance, you may be left financially stranded. Therefore make sure to carry adequate motorcycle insurance.

 How Much Motorcycle Insurance Should I Get?

The average cost of motorcycle insurance is about $702 in the U.S. However, this may vary from one state to another on the basis of your location or experience. A typical 21-year-old could pay between $900-1000 a year. Also, the amount of liability coverage you buy depends on your assets and targets for the lawsuit. However, if you have significant assets, high liability limits are essential.

Most states require vehicle owners to carry some small amount of liability insurance but getting additional coverage options depends on the worth of your bike. You may need additional coverage if you drive a Yamaha BMS Chopper. It’s a different story if you are cruising a Kawasaki Ninja 400. Importantly, if your bike is totaled or stolen, collision or comprehensive coverage only covers the current, fair market value and not necessarily the amount you bought it for.

With regard to uninsured or underinsured, it is crucial to get as much of this coverage as you can reasonably afford. This is why additional insurance coverage could be your best buy when catastrophe strikes. Even if you go without an accident your whole life and all your insurance premiums were unused, it is a worthwhile investment.

Considering the risks associated with riding your bike, getting the coverage that keeps you fully protected is important. If you need assistance with your auto and motorcycle insurance coverage, contact the experts at James Page Insurance today. We are ready to assist with all your insurance needs.