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1.) Shop your coverage Shopping around for coverage is an important step to lowering your premiums because different insurers rate risk differently. This means that premiums can vary dramatically so always make sure you’re comparing when comparing deductibles and coverage levels. If your insurance rates go up, then compare with at least three other companies to see if you can find a more affordable rate. 2.) Fight the ticket If you receive a major ticket like reckless driving, then consult with an attorney to have the ticket reduced. This applies even for speeding tickets as doing this will keep points off your license and this is key to maintaining low premiums. 3.) Raise your deductible a. Increasing your deductible is an effective way to reduce your premium. An example of this is if you raise your deductible from $500 to $1,000 you could save $125 a year. b. One thing to note is always choose a deductible that you can afford in the event you have to make a claim. 4.) Apply discounts a. There are many discounts available for insurance. These range from multi-car discounts, good student discounts, or even purchasing your homeowner’s insurance from the same insurance provider. 5.) Teen Driver a. Good Student discounts, defensive driving courses, and purchasing a safe and older car are all ways to reduce your premiums if you have a teen driver on your policy. #autoinsurance #abcoinsuranceagency

If you’ve ever had questions about why your premiums are high, why they increase yearly, or why they don’t decrease even if you’re a perfect driver – this post can help you! Last week we learned about some insurance habits regarding auto coverage that could wind up costing you more in the long term. This week we want to teach you about things that can negatively affect your insurance premiums, even more than an accident. An accident claim typically increases your insurance premiums by approximately 32% or $459 a year (not including deductibles). 1. Adding a teen driver raises your insurance. (16 yr old female, 125% increase. 16 yr old male, 160% increase.) a. Data supports that teens are high-risk drivers since they lack experience and take longer to react to certain situations on the road. b. Insurance rates decrease every year they are ticket and accident free and further once they reach age 25. 2. DUIs (79% increase) a. Driving under the influence is an infraction that stays on your record ranging from 5 to 10+ years depending on the state. This means that this infraction increases in cost over time rather than dropping from your record after three years. b. DUIs also severely limit your insurance options as some carriers will not insure someone with a DUI on their record. 3. Reckless driving (73% increase) a. Reckless driving is considered a “major” violation by insurance companies and can indicate a future reckless driving ticket. b. These violations include amongst others: driving 25mph over the speed limit, street racing, attempting to escape the police, and passing on a double yellow line with limited visibility. c. These violations stay on your record for 5 to 7 years! 4. Low Credit affects car insurance! (71% increase) a. Insurance companies have a correlation with low credit scores and insurance claims, both in amount and cost per claim. b. Exceptions for this are for people living in California, Hawaii, and Massachusetts where insurers using credit scores when using rates are prohibited. 5. Two speeding tickets (43% increase) a. Two speeding tickets in a one-year period can noticeably affect your premiums. b. One ticket can increase your rates from 22-30%, with two increasing it as high as 43% where they will remain for at least 3 years until they fall off your record. Thank you for learning more about your rates. If you feel like your rates are too high contact ABCO and learn what your options are from 25+ insurance carriers. Next week we'll cover how to lower your insurance. Drive safe!

The minimum liability auto insurance doesn't stand up to the potential hazards of car ownership. Let’s examine why that’s the case and parse through the fine print to see why it's just not worth it. 1. While an insurer will check your driving record once a year or every other year, cheap policies may check every six months. 2. If you have moving violations on your driving record, this triggers vigilance on the part of those insurers offering a cheap fix. They’ll wait until they find something then raise your premiums. 3. Accidents can lead to lawsuits. Don’t count on your cheap, nonstandard policy covering you if you’re found to be at fault in court. You could be on the hook to pay punitive damages which are costly. 4. Anyone who owns a car knows that repairs aren’t cheap. A cheap policy may factor in depreciation as part of its payout. That means you’re only paid out for a portion of the cost of repairs. 5. Other drivers? Teenage drivers may be excluded, especially if they’ve got a moving violation on their record. You may not even be able to lend your car to relatives and friends if “permissive” drivers (people you allow to borrow your car) are excluded. Some common exclusions are drivers under the age of 25 or 21. While there’s quite a lot of variance involved in nonstandard car insurance policies, the common thread is limiting your coverage in multiple ways can wind up costing you more money. When you shop for car insurance, make sure you're properly insured. At ABCO, we’ve been creating solid car insurance policies for drivers since 1979. With accessible pricing and comprehensive coverage, be confident about where you stand, with no secrets in our fine print to trip you up later. #premiums #insurance #accidents

Insurance is a necessity. No doubt about that. But practical insurance does not mean that you need to or should insure every item in your home, or purchase insurance plans that are not relevant to you. You need to find insurance plans that work for you, your budget, your line of work. Here is a quick guide to help you figure out what insurance items are necessary, practical, or not needed. For Everyone 1. The first thing to note is that some insurance plans are necessary or, at least, should be considered by most people. One form of necessary insurance is car insurance, besides being a legal necessity to operate a vehicle, it protects you in case of an accident. 2. One form of insurance that almost everyone should consider is life insurance. You’re not too young to look into life insurance plans. These plans help you prepare for the future and ensure your family is stable in case of a tragedy. 3. Next, you’ll want to figure out what type of insurance is right for you. If you own a home, you’ll want a homeowner’s insurance plan. If you run a business, you may want to invest in different plans that relate to your work. You may need to insure a specific, expensive item in your home that’s separate from your homeowner’s plan. Flood insurance may be a good idea if you live in an area prone to flooding. It is important to understand your risks and research what insurance plans may fit your needs best. You need to have a good idea of what you want to insure and what you can afford to insure. 4. Once you understand what your needs are and have a general idea of what you want to insure, the best way to make sure you’re getting an appropriate insurance plan is by talking to experts. When you talk to insurance professionals, like those at ABCO Insurance Agency, you can be sure you’re getting the right coverage. We can help you find plans that cover you and fit your specific needs, because not everyone will have the same needs. If you’re in need of insurance, or considering a new plan, ABCO can help. Go the contact section of our website and contact out team! #homeinsurance #safehomes

Regular home maintenance can go a long way to keeping your house safe and secure. Being proactive is always your best defense when it comes to possible dangers and accidents that can ruin your home and leave you with a hefty repair bill. 1. Your Climate Control As far as maintenance goes, your home’s climate control system, while very important, can be something that gets neglected easily. A problem with your climate control can lead to major issues; this can range from flooding caused by a frozen pipe while you’re away to an electrical malfunction with your air conditioner causing a fire. You should be sure to stay on top of your climate control system all year. 2. Gutters Gutters are another often neglected part of your home that can lead to major problems. Your gutters divert water away from your home when it rains and protects your foundation. If your gutters are clogged, you may wind up with water build up. This can lead to overflowing gutters that can damage siding, roofing, and eventually structural problems. Regularly cleaning your gutters and replacing broken gutters or downspouts will help prevent this. 3. Trees If you live in an area with a lot of trees, you need to be taking care of them. Trimming branches and removing dead trees is the only way to prevent them from falling on your home. Some trimming and tree removal may be easy to do, but for the most part, you should have a professional check out your trees and do the work. It’s important you keep an eye out, though. 4. General Care By keeping up with your house, you also make it less appealing to burglars. When your house falls into disrepair, it looks like there’s no one living there. This can lead to your home becoming the target of thieves. Simple things like shoveling walkways, raking leaves, collecting trash and refuse, and keeping things organized can keep your home well-kempt with the benefit of looking occupied. 5. Insurance If you’re looking to further protect your home, the right insurance plan can help. Contact our team at ABCO to discuss an insurance plan that fits you! #assetmanagement #homeownership