Wenclewicz Insurance Presents: Ask Wenc

How Much Will Adding An Alarm To House Help My Rate?


Many believe that by adding an alarm system it will significantly help their rate.  And that is true, but only to a certain extent.  By having an alarm system it will significantly reduce the chance of you having a theft claim which will help keep your rate from skyrocketing(theft is one of the worst claims you can have when it comes to affecting your future insurance rate)  But if you are already claim free, the alarm system discount is only a 5% discount.

When you hear alarm companies advertise 10-30% discounts, they are referring to 10-30% off of the base rate, not your already discounted rate which include the claim free and multi policy discounts, etc.

We strongly encourage you to get an alarm system, not so much for the insurance savings but for your own peace of mind.  Protecting your personal property and more importantly your family from a burgler is well worth the cost of an alarm system. 

 

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How Does One Best Determine What The Best Life Insurance Policies Are Given All Of The Options For Life Insurance Through One’s Employer And The Private Sector?


Great question!

We highly recommend consulting with us.  There is no perfect life policy in general, but there can be one for your particulator situation.  Every person has different priorities and we will work with you to figure out exactly what your biggest needs are and help you get exactly what you want.

By being independent, we represent multiple companies.  Once we figure out together what is best for you, we can make sure we find the best pricing and coverage to help protect your loved ones.

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Is Anyone Who Drives My Car Covered???


This is a loaded question, so we highly recommend you call and consult with us; however, we will scratch the surface with a response.

Your auto insurance policy always follows your vehicle, not the driver of the vehicle.  So if it is your car,  your policy will pay no matter who is driving*(there are exceptions) Or if you are driving someone elses car and you get in an accident their insurance policy will provide coverage.    

*If you lend your car to someone that is not listed on your policy and they DO NOT live at your residence or have regular access to your car, your policy will provide coverage if they get in an accident while driving your car.

*If the person driving your car is a household member or has regular access to your car and is not listed on your policy, coverage can be denied!  It is very important to list all drivers in the household on your policy so you have the proper coverage.

Please let us know if this is a topic that we need to discuss in more detail in regards to your particular situation!

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Do I Have A Deductible For Window/Windshield Damage To My Car???


If you have to REPLACE the window/windshield your comprehensive deductible would apply (most of the time the damage doesn’t even equal your deductible, so you would be out of pocket)

If it can be REPAIRED without replacing, MOST insurance companies we represent will waive your deductible (they will do it for free)

I highly recommend Glass America, they are experts that insurance companies would send you to anyway.

A typical front windshield costs anywhere from $200-$300 to completely replace!

See below for their website and location in Central Indiana (they are national):

www.glassusa.com/indianapolis

6155 East 86th Street, Indianapolis – (317) 537-9557

Value Added Services Include:

Free mobile service(they come to you)

Free life time warranty

Same day service on auto glass repair

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What Is UMPD???


UMPD, stands for Uninsured Motorist Property Damage.

Ya, so what?  Why should you care?  This coverage applies for damage to your vehicle if struck by an uninsured motorist.  Current stats show about 20% of Central Indiana drivers do not have car insurance. 

So no matter how safely you drive, you are exposed.  You can’t control how somone else drives…especially someone with no auto insurance.  Every auto policy that we offer  to our clients has this coverage included and at the proper limit(at least the value of your car)  Sadly, we see many new clients not having this coverage or not enough of it before they switch to us!

This is a very inexpensive coverage($5-15/yr) that could cost you hundreds to thousands of dollars if you do not have!  

 

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Coverage D/Loss of Use


For a standard home or condo policy, this will cover your increased living expenses to stay somewhere else while your place is being repaired or rebuilt.  Of course the reason for your place not being livable must be a named peril in the policy(i.e. fire, tornado, etc).  This coverage will provide either a dollar amount or length of time(up to 24 months). 

Be careful, a lot of companies only give you a time limit of 12 months to rebuild.  Seems like plenty right?  Wrong!  Especially with a tornado, if lots of homes get destroyed in a certain area there will be limited supplies and contractors.  Not to worry with our companies they either give you up to 24 months or a dollar figure high enough that would last you 24 months.

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Why Should You Have A Personal Property Inventory?


The #1 reason is being prepared for a disaster!

If you are affected by a fire, burglary, tornado or other loss, an inventory will provide you with the ability to remember and prove what you own(ed).

A thorough written report-supported by a detailed album of photos-will help you remember your belongings.

The insurance institute states that those with an inventory settle their claims faster and are able to maximize their settlement.

We recommend two options:

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Insurance: Agent vs. Online


It amazes us how many people think buying on-line is the way to go. It makes sense though right? By cutting out the middle man(insurance agent) the insured gets a better deal.

Wrong. Not only is the insured probably not getting the best price, there are many other things the insured is missing out on as well.

Price? We have the best price on 72% of our quotes to new clients. And that is just on price alone….

Coverage? On-line you have no idea what coverage you should or shouldn’t have. We always make our recommendations and then let our clients DECIDE what is best for them. Most of my clients are amazed at how minimal some extra coverage costs that can really protect them in a time of need.

Service? Forget about it. You get zero service when you buy on-line instead you get an 800 # to call. We return calls and emails promptly. If you have a claim we follow up to make sure things are going smoothly. For the client that really likes on-line accessibility our website has links to every company we partner with for on-line payments and 24/7 claim reporting.

Relationship? We meet face to face with new clients. We meet either at our office, the insured’s place or somewhere in between. It isn’t necessary to get the policy going, but within a week of starting it we like to meet to discuss the coverage in detail and help answer any other questions. We call or email upon renewal to make sure the client is happy and if we need to add/delete coverage. FYI, almost no agent we have met call or email upon renewal!!! BUT we do, it is important to keep an open communication line with all of our clients and make sure they are still receiving the best value possible.

According to Jana Bell, Director of Operations at HomeInsurance.com, “Customers who work with a licensed agent before purchasing their insurance policy have a better chance of finding the right coverage and qualifying for all available discounts.”

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Coverage B…Other Structures???


On most standard home policies Coverage B(also known as other structures) is built in the policy at a limit of 10%.  Whether you need it or not, it is included.  10% of what you ask?  10% of your Coverage A(otherwise known as rebuilding cost).  So if your home is covered at $200,000 for Coverage A, you automatically have $20,000 for Coverage B.

What is covered under Cov. B?  Many things can be possible, but we will list the 5 most common.  1)detached garage 2)fence 3)shed 4)barn 5)deck/patio that is not connected to the house

Knowing your limits and what is covered on your home policy can be confusing!  Let the experts at Wenclewicz Insurance help you out if you have questions, whether you are already a client or looking to become a current client.

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What Are You Worth???


You are valuable to your family in so many ways-you offer love, guidance, time and so much more.  The financial support you provide is one of the most important assets for your family.

But what if you’re no longer there?  How would your family cover all of the day-to-day expenses, as well as the plans you’ve made for the future?

Replacing Your Income  When thinking about your life insurance needs, a good way to start is to figure out what it would take to replace your income.  Consider your annual income, how long you want to replace it and what other assets(life insurance, savings) you already have in place.  The gap your left with is what you should consider covering with life insurance.

Keep in mind, you’re likely worth much more than you think.  It is estimated that the average American earns $1.7 million in a lifetime

 

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