Disaster and Your Homeowner’s Insurance Policy

When you start learning about insurance, there are a lot of different phrases and policy options that can be easily misunderstood. Many consumers do not recognize the full scope of what their policies do and don’t cover, some do not understand what their deductibles and limits are, and others are not certain whether or not special incidents are covered in their car or homeowner’s policies. All of these areas of confusion are easy to fix with a call to your insurance agent or a fast read of your policy.

But not all insurance misunderstandings are safe. If you assume some insurable incident is covered by your existing car or home insurance policy and it actually isn’t, you could be subjecting yourself and your family to financial risks that you simply cannot carry on your own. One constant source of this kind of risky misunderstanding involves flood insurance.

Many consumers assume that flood insurance is inherently included in their home policy. Unfortunately, this error is so widespread that many policy holders don’t ask their agent or insurance company if their Flint home insurance policy will cover the damages accompanied with flood waters—they just assume that it will. This guess can turn out to be an extremely costly mistake after a flood actually happens because assuming that their homeowner’s insurance policy offers flood protection prevents them from taking the steps needed to find out the truth about flood insurance and protect their loved ones and their possessions accordingly.

Now that we all know that home insurance plans do not protect against damage caused by flooding, let’s learn what actually constitutes as flooding. The National Flood Insurance Program describes a flood as:

“A flood is a general and temporary condition where two or more acres of normally dry land or two or more properties are inundated by water or mudflow.”

The explanation of flood is easy enough to understand, but the reason that many homeowners think it’s built-in to their home insurance policy is because several of the incidents that can cause flooding cause other damages that ARE covered under a home insurance policy. For instance, a hurricane may cause wind damage to your house that is covered in your policy, but it may also cause normally dry land to be temporarily drowned by water, which could run into your home and damage your carpets and possessions—but because those are flood waters, you will only be protected if you have a flood policy.

So be sure you have a flood policy in effect today. Whether you reside in a flood region or not, its protection that is not covered in your homeowner’s policy but needs to be in effect to protect you and your family.

For more information about home insurance, give Security First Insurance Agency a call at 810-732-5800.

5 Actions You Should Take Before Purchasing a Used Auto

Since new vehicles can lose more than 15 percent of their value once they are driven off the lot, purchasing a used car is often a smart financial choice to make. But that doesn’t mean you don’t need to do any research before making the purchase. There are five important things you should do before you sign the papers and commit to buying a used automobile.

1. Contact your insurance agent. Your Flint auto insurance agent can give you some direction in deciding which type of car would be the most reasonably priced as far as your insurance policy is concerned. This can be based on safety features, popularity with thieves and other factors.

2. Get a Carfax report. A used car has an unknown past that it can never reveal to you—but that doesn’t mean you shouldn’t want to know about it. Carfax has a series of complimentary and paid reports that will show you the history of your car with its previous owner or owners. This will help ensure that you don’t buy a lemon or a car that may have been mechanically compromised in a way that is not completely corrected through repair or replacement.

3. Compare safety options. Not only will a vehicle with front and rear airbags, anti-lock brakes and automatic seatbelts help keep you and your family secured, it will also lower your insurance premiums. Because used cars can be decades old, you cannot take for granted that the one you consider purchasing will have the safety features you desire. Make sure you research what options are available in used cars of different years and different models so that you can better focus your search.

4. Look up car values. Before you spend money or get a loan for a used car, make sure that you are paying a reasonable price based on its Kelley Blue Book value. Don’t believe that the company selling it is being completely fair; do your own research and, if necessary, be prepared to negotiate.

5. Bring the vehicle to your mechanic. Your mechanic can tell you whether or not a used car you are about to buy is worth purchasing or if it’s better left in the lot. He or she may charge you a small fee to inspect the car, but it would be well worth it to avoid potential repair fees beyond the basics that any used car buyer should expect.

Used cars may be a fiscally responsible choice, but it is still a big decision to make when buying one. Put the time in and do your research so you can drive off the lot with full confidence, an insurance policy you can afford, and an intact wallet.

Contact SecurityFirst Insurance Agency today at 810-732-5800 for all of your auto insurance needs!

Business & Commercial Insurance

We offer a broad line of products to meet your business insurance needs. Products and services include:

• Religious Institutions: Churches and Schools
• A Businessowners' Policy that is broad and comprehensive to meet businessowners' needs in the areas of property and liability coverage. Coverage for specific businesses and optional extended coverage are also available.
• The Commercial Package Policy is flexible to ensure comprehensive coverages tailored for specific businesses. It includes Property, Comprehensive General Liability, Crime, Inland Marine and Automobile coverages.
• The Commercial Umbrella Policy provides the extra protection every business requires with extra limits where general liability and automobile limits end.
• Loss Control Services that help you reduce loss severity exposure, provide information on reducing loss frequency, and identifies safety programs. 

Click below for a Flint business insurance quote or call us at 800-530-9225.

Auto Insurance in Flint Michigan

Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy.

We offer competitive premiums and complete coverage for all your vehicles. Coverages include:

• Preferred and standard auto
• High risk auto
• Motorcycle
• Motor homes
• Camping trailers, travel trailers, utility trailers
• Recreational vehicles: all-terrain vehicles, trail bikes, snowmobiles, golf carts, mini bikes, dune buggies, jet skis and wet bikes antique, classic or special-interest cars

Why you should insure your vehicle Michigan has the most comprehensive no-fault auto insurance system in the nation. If your vehicle is insured in Michigan, you and your family will be provided with unlimited medical and rehabilitation benefits, wage loss benefits and $20 per day for replacement services for up to three years if you are injured in an auto accident, regardless of fault. This security is one of the most important reasons to purchase insurance. 

In addition to the security that insurance provides to you and your family, Michigan law requires no-fault insurance. Every registered vehicle must be insured. If you own a car and you drive it, or allow someone else to drive it without basic no-fault insurance, you can be sued and held personally liable. You may also be convicted of a misdemeanor and fined from $200 to $500, or put in jail for up to one year, or both. The court may also order your license suspended for 30 days or until you are able to provide such proof. In addition, if you are uninsured you may be held liable for all damages that result from an accident while uninsured, including your own. 

What auto insurance coverage you have to purchase There are three basic parts to a no-fault policy that must be purchased and carried on every vehicle. They are:

• Personal Injury Protection (PIP) - Personal injury protection (PIP) pays all necessary medical costs if you are hurt in an auto accident.
• Property Protection (PPI) - Property protection (PPI) pays up to $1 million for damage your car does in Michigan to other people's property, such as buildings and fences.
• Residual Bodily Injury and Property Damage Liability Insurance (BI/PD) - Residual bodily injury and property damage liability (BI/PD) pays your defense costs and any damages you are found liable for as the result of an auto accident, up to the limits of the policy. The minimum limits of coverage that everyone must purchase are $20,000 for a person who is hurt or killed in an accident, $40,000 for each accident if several people are hurt or killed, and up to $10,000 for property damage in another state. These minimum limits are often referred to as 20/40/10. You can also purchase additional limits of BI/PD coverage, which will be explained in the next section. (Source: http://www.michigan.gov/difs)

Contact us for a Flint Michigan auto insurance at 810-732-5800.