The "Best Price" for Vehicle Insurance

Many insurance companies are touting vehicle insurance coverage savings that can be received by “switching” from your current insurance carrier to another insurance carrier.

The Insurance Information Institute confirms that most vehicle insurance rates have risen 10 per cent for the years 2008, 2009, and 2010.  Further, it is expected that vehicle insurance rates will raise at least 4 per cent for the year 2011.

Insurance company costs of doing business are rising.  Insurance premiums are rising.

Why not contact your favorite insurance agent (Ryan Edgington, Burton Heginger, Andrea Shearer, or Tessa Everman) at the Triplett Companies (515/232-5240) to provide you with several vehicle insurance quotes to see what the “real” savings can be? 

Teenage Drivers

Adding a teenage driver to a family vehicle insurance policy will often increase the insurance premium by over 30 per cent.

It is usually less costly to keep the teenage drive on the family vehicle insurance policy. 

Additionally, avoiding a ratio of the same number of vehicles and drivers often helps to offset the cost of teenage drivers.

To offset the increase in the insurance premium, ask about multi-car discounts, multi-policy discounts, good student discounts, teenage driver education credit discounts, etc.     

The best way to ensure you obtain the least costly insurance policy with adequate coverage is to contact your insurance agent.

Why not contact your favorite insurance agent (Ryan Edgington, Burton Heginger, Andrea Shearer, or Tessa Everman) at the Triplett Companies (515/232-5240) to help ensure you have adequate coverage for your teenage drivers at the best price?  Call or e-mail today.

     

Reasons for "Shopping" Your Vehicle Insurance

Triplett Companies insurance agents will review your vehicle insurance policy with you in person at least one time per year.    

 

However there may be other reasons than the annual renewal review for “shopping” and “reviewing” your vehicle insurance policy.

 

1.  If the cost of the vehicle insurance is not in the budget, consider higher deductibles,
    alternative insurance carrier price quotes, etc.

 

2.  If you have recently been involved in an accident or received one or more moving
    traffic violations (tickets).

 

3.  If you are considering the purchase of another vehicle (replacement or additional)     and need to determine how this vehicle will impact your insurance premium.

 

4.  If a teenage member of the household becomes eligible for a driver’s license.      

     

Contact your favorite insurance agent (Ryan Edgington, Burton Heginger, Andrea Shearer, or Tessa Everman) at the Triplett Companies (515/232-5240) for further help ensuring you are receiving the best price for your insurance needs.

Property Tax Deductible

One of the drawbacks to low mortgage rates is that the total interest and property taxes paid for the year may be lower than the standard deduction. A little planning might be able to help you at least every other year.
Most homeowners know they can deduct their qualified mortgage interest and property taxes on their Schedule A of their 1040 tax return or to take the standard deduction if it is greater. See Your Deduction...Your Choice.
Deductions are taken in the year that they're actually paid. If a homeowner paid their 2012 property taxes in 2013, they would not be deductible on their 2012 tax return. Then, if the 2013 property taxes were paid in 2013, both the 2012 and 2013 taxes could be deducted on the 2013 Schedule A.
By delaying the payment of the 2012 taxes until 2013, the combination of the 2012 and 2013 taxes might exceed the 2013 standard deduction and provide a higher deduction.
Other Schedule A expenses such as charitable contributions and medical expenses may be bunched also. From a practical standpoint, since most mortgage payments are due monthly, the mortgage interest would not be bunched.
This information should be discussed with your tax advisor to see how it might apply to your individual situation. The key is you must be aware of the strategy early to be able to use it.

New Vehicle Insurance

Before you consummate the purchase of that “new” car, obtain three vehicle insurance quotes.

New vehicle insurance premiums depend on the safety record and safety features of the car, the past theft history of the car, repair costs, engine size and power, etc. 

Normally, it is best to obtain several competitive quotes prior to purchasing that new vehicle. 

Call or e-mail your favorite insurance agent (Ryan Edgington, Andrea Shearer, or Tessa Everman) at the Triplett Companies (515/232-5240) for more information and price several price quotes. 

"Named Insured Only" Clause

If you desire to ensure all drivers of your vehicles are covered with your insurance, make certain that your insurance company (carrier) does not include a “Named Insured Only” clause in your vehicle insurance policy. 

It is becoming more common today for insurance companies to limit their risk by adding this clause to their driver coverage in the insurance policy. 

Remember however, that if drivers of your vehicle(s) do become involved in an accident, your vehicle insurance premium could increase.  Take time to ensure that those who drive your vehicles are good drivers having good driving records and are properly licensed. 

Contact your favorite insurance agent (Ryan Edgington, Andrea Shearer, or Tessa Everman) at the Triplett Companies (515/232-5240) to ensure your vehicle is insured for “all drivers” and/or “named insured drivers only” as per your choice.