Finding the Best Car Insurance in Ohio for Your Needs – P.J. Miller Interviewed by MoneyGeek

P.J. Miller - Vice President

When shopping for a car insurance policy in Ohio, you should consider the costs, available discounts, customer service reviews and claims-filing process. In an interview with MoneyGeek, Vice President P.J. Miller discussed how drivers can balance risk management and affordability, and how they can better educate themselves on car insurance policies, coverage and pricing.

When asked about managing risks and premium rates, P.J. said, “Many people are tempted to purchase the minimum amount of coverage, but this leaves them exposed to financial and legal risks. Drivers should consider what they can afford each month for their premium but understand if they have a lower premium, their deductible will be higher, and they will be paying more out of pocket in the instance of an accident or loss.” 

“There are ways to lower your auto insurance costs without increasing your risk, such as bundling your auto and home coverage. Insurers will often offer a discount if you have multiple policies with them,” he added.

Read the full interview here.

Questions about car insurance in Ohio? Contact us at 937-324-8492 or here.

Progressive No Longer Writing New Coverage for Hyundai and Kia Vehicles Due to Increase in Thefts

Progressive has recently announced that they will no longer insure Hyundai and Kia vehicles (all years and models) due to the increase of thefts. This change applies to new policies only, in zip codes starting with 441 (Cleveland) and 432 (Columbus), for now.

The restriction does not apply to existing customers or endorsements on current policies. If you currently have a Hyundai or Kia insured with Progressive, you will be grandfathered in and your coverage will continue.

According to the Highway Loss Data Institute, among 2015-19 vehicles, theft claims were nearly twice as common for Hyundai and Kia vehicles than all other car manufacturers. "The companies sell vehicles that don't have electronic immobilizers to prevent thieves from taking them. People are able to break in and bypass the ignition."

If you own a Hyundai or Kia, we encourage you to take steps to make the vehicle more secure such as a key ring device to track the car and/or retrofitting your vehicle with an alarm system. Learn more about safety tips to prevent theft. 

If you have questions about your Progressive coverage, please contact us at 937-324-8492.

Does Car Insurance Cover Hitting an Animal?

Myles Trempe - Producer

Ohio has a high deer population, which means collisions with cars are unfortunately a common occurrence. Due to the size of deer and that these accidents often happen unexpectedly and at a high speed, they can cause significant damage to your vehicle.

Below, Producer Myles Trempe addresses common questions about hitting a deer or other animals, and how insurance comes into play.

Do insurance companies generally cover animal collisions? What coverage can drivers purchase to cover this?

Yes, the insurance company will cover animal collisions as long as your policy includes comprehensive coverage. Comprehensive is the one type of coverage that protects your vehicle against physical damage to your car not involving a stationary object or another vehicle. Comprehensive coverage is an entirely different coverage option than collision. Collision insurance is a type of coverage that can pay to repair or replace your vehicle if it's involved in an accident with either a stationary object or another vehicle. 

Are there types of animals collision insurance policies cover versus those they do not cover?

Any and all animal collisions would be covered under the comprehensive form. Different types of animal damage varies according to whether or not the animal has an owner. Pet owners are often held liable for animal accidents with the exception of those without owners or wild animals.

Why would drivers generally choose not to make claims on animal collisions?

The primary reason an insured would not file a claim for a comprehensive loss is due to the cost estimate of repair versus the policy deductible. For example, the policy has a $500 comprehensive deductible and the cost to repair is $800. That claim may lead to eventual higher insurance premiums and may quickly turn your claim into a negative financial transaction over the longer period of time. 

What should drivers do after an animal collision?

Pull off the road wherever it’s safe to do so and turn on your hazard lights. If the animal is lying in the road, direct your headlights towards it so other drivers can see it. Contact the police and do not approach the animal as injured wildlife can be very dangerous. Once you are cleared from the scene, contact your insurance company or insurance agent to file your comprehensive claim.

Questions about insurance coverage for animal collisions? Contact Wallace & Turner at 937-324-8492 or here.

What Happens to My Car Insurance Coverage After a DUI?

P.J. Miller - Retired Partner

Drinking and driving is dangerous to you, other drivers and pedestrians, and there is never a reason to get behind the wheel while intoxicated. In addition to potentially injuring or even killing someone, your auto insurance will be affected and you may be faced with finding new coverage and paying more out of pocket. P.J. Miller explains what happens to your car insurance rates and coverage after you are convicted of a DUI.

Is there such a thing as “DUI car insurance?”

No, the term infers that the person has been convicted of the offense and the current auto insurance carrier will not continue the policy, whether due to the fact that they don’t insure anyone with a serious offense, or they don’t have the ability to write the replacement coverage such as an “SR-22.”  

What can you expect to happen after a DUI conviction?  

Your current carrier will most likely not renew your auto policy and will send you a letter to that effect.  

Is it possible your car insurance company may cancel you?  

“Cancel” infers your policy will be terminated immediately or upon receipt of the letter. Typically, the notice will be “An intent not to renew,” so they won’t be renewing your policy at your next scheduled renewal date.   

Under what circumstances can you lose your license after a DUI? 

The court system (local or state) will dictate what transpires after a serious offense, meaning the charge (DUI or similar charge). The level of “points” also plays a part. For example, the court might assign a charge that is a 6-point offense, or even 12 points, depending on the judge, attorney and jurisdiction. 

Are your car insurance premiums guaranteed to increase following a DUI?   

While the outcome from a DUI is almost always going to be a loss of driving privileges and insurance coverage, and a significant rate increase, it does not mean the increase is “guaranteed,” as there are too many rating factors that affect auto insurance pricing. One well-known carrier that got its start in the auto insurance business, doesn’t adjust their rates much, if at all, if the DUI is a “clean” one, meaning, no accident accompanied the DUI. 

How much do insurance premiums typically increase after a DUI?  

Depends on each carrier but typically in the range of 25% to 100% or more. 

How do you recommend shopping for car insurance after you get a DUI?

An online search is a good place to start. Rates are readily available online but keep in mind, the information is only as good as what you’re entering to get a quote. So, if you don’t provide full, correct information, the quote could be skewed.  

An independent insurance agent works with many carriers and can help guide you in this process. They will understand the information that needs to be provided and offer you the best options. 

How long does a DUI stay on your record?  

Typically, three to five years, dependent upon the state, carriers and pricing model. 

What’s the difference between a DUI, OUI, DWI and OVI?   

They generally mean the same thing with some technicalities (alcohol vs. drugs) but in relation to insurance, they all mean the same thing. 

How long after a DUI do your insurance premiums take to decrease?   

This could be annually or over a three-year cycle or up to the five years.  Again, very specific to the carriers. 

Any other thoughts on this topic?   

• Rely on rideshare and don’t get yourself in this position in the first place.  

• Buy a breathalyzer (seriously).   

• Know your jurisdiction's legal limit but keep in mind, most will charge you even if you’re nowhere close to the true legal limit because even .02% means you have alcohol in your system even though your state says .08% is the “allowable limit.”  And a personal breathalyzer isn’t a way to get around the limits but if you find out you’re .02% or greater, maybe you won’t get behind the wheel. 

Questions about auto insurance coverage following a DUI? Contact our independent insurance agents in Urbana and Springfield, Ohio here.

P.J. Miller Discusses the Impact of Texting and Driving on Insurance Rates with Forbes Advisor

P.J. Miller - Vice President

Texting and driving is one of the most dangers behaviors drivers can engage in behind the wheel. And not only can it result in the worst case scenario of bodily injury or death, it can impact your insurance rates. Vice President P.J. Miller discussed the risks of texting and driving with Forbes Advisor.

“When texting, you easily lose track of speed and your surroundings, so aside from potentially getting a ticket, you are endangering pedestrians and/or road workers, which could lead to them being injured or killed by distracted driving. This can result in criminal charges, not just increased rates,” said P.J. “Additionally, you could lose your license or even your job.”

Read the full story here.

Questions about car insurance in Ohio? Contact us.

Finding the Best Car Insurance Company for Your Needs – P.J. Miller Interviewed by MoneyGeek

P.J. Miller - Vice President

Car insurance is important because it protects you in the instance of an accident or loss, and most people are not in a position to come out of pocket to pay for the replacement of a totaled car or another driver’s medical bills. In an interview with MoneyGeek, Vice President P.J. Miller discusses how drivers can balance balance risk management and affordability, how to educate yourself on the types of coverage available and how auto insurance premiums are set.  

When asked about how consumers can better understand the types of car insurance policies, coverage and pricing, P.J. said: “Independent insurance agents can help drivers better understand their options. Because independent agents work with a variety of insurance companies, they can compare carriers and present the best cost and coverage options for the driver’s needs. They may also be able to obtain discounts that only certain carriers offer.” 

Read the full MoneyGeek interview here.

Questions about finding the right auto insurance coverage for your needs? Contact us for a complimentary quote or to review your current policy.

What You Need to Know About Insuring an Electric Car – P.J. Miller Interviewed by CarInsurance.com

P.J. Miller

If you’re considering purchasing an electric vehicle (EV) to save at the gas pump or to reduce your carbon footprint, know that getting car insurance for an EV is similar to shopping for insurance like any other vehicle. In an interview with CarInsurance.com, Partner P.J. Miller said he hasn't noticed a major rate disparity between premiums for EVs/hybrids versus gas-powered autos.

“Car insurance rates are predicated on so many factors – credit scores, location of the garage and the vehicle, driving record and price of the car. The engine and powertrain haven't factored in as a major portion of the typical rate-making process.” 

Read the full article here.

Questions about auto insurance coverage in Ohio? Contact Wallace & Turner at 937-324-8492 or info@wtins.com.

Finding Affordable Car Insurance in Ohio – P.J. Miller Interviewed by MoneyGeek

P.J. Miller

In an interview with Moneygeek.com, Partner P.J. Miller discussed the key factors Ohio drivers should look for when searching for the best auto insurance coverage.

P.J. cautioned that while drivers may be tempted to go with the cheapest coverage option, they should make sure they’re working with a reputable carrier and the coverage is providing them with enough protection in the instance of an accident or other loss. “You may be saving now, but if you cause an accident that results in costs exceeding your coverage limit, you'll be coming out of pocket to pay -- and your assets such as your home or other investments could be at risk,” he said.

P.J. also advised drivers to consider talking with an independent insurance agent because they can identify discounts and credits that may be available.

Read the full article here.

Questions about car insurance coverage in Ohio? Contact Wallace & Turner at 937-324-8492 or info@wtins.com.

Adding Your Teen to Your Auto Insurance Policy in Ohio

For many parents of teenagers, that sweet 16 party doesn’t feel so sweet. That’s because 16 is the birthday when teens can start driving in Ohio. And that means you have to figure out your teen’s auto insurance situation.

Is it going to cost an arm and a leg? Will teen auto insurance cover enough to keep my kid protected? There are plenty of questions around this time and the experienced team of independent insurance agents at Wallace & Turner have written this guide to provide answers about adding your teen to your auto insurance policy in Ohio.

Read on to learn everything you need to know. And if you’re ready to get your teen insured, reach out to our team.

When Should I Add My Teen to My Auto Insurance Policy?

In Ohio, teens can apply for a driver’s permit when they are 15 years and 6 months old. Is that the age when you need to add them to your auto insurance? Not exactly. That’s because you or another license-holding legal guardian will have to be in the passenger seat at all times until your teen is able to trade that permit in for a full-blown driver’s license, so your car will be insured through your presence in the vehicle. 

When it comes to the timing of adding your teen to your auto policy, the exact age of your teen matters less than their legal driving status. Once your teen gets their full driver’s license and is ready to start driving the family SUV or even a car you’re buying for them, it’s time to start thinking about getting your teen insured.

How Much Does It Cost to Add a Teen Driver to Insurance?

Putting your teenager on your car insurance policy can double your rates. According to CarInsurance.com rate data, your rates will increase by 102% on average when you add your teen.

Wallace & Turner Producer Ben Galbreath recently spoke with CarInsurance.com to explain what parents need to know about adding a teen driver to their auto insurance. 

“Teenage drivers are inexperienced drivers who are less aware of their surroundings and have a tendency to drive too fast and less responsibly, which makes it more likely that they will have a claim,” Ben said. 

In Ohio, the average premium cost for full-coverage auto insurance without teens is $960 per year. But adding teens drives that average up to $1,881 per year, according to data from CarInsurance.com.

Do I Have to Add My Teen to My Auto Insurance in Ohio?

To comply with Ohio’s Financial Responsibility Law, your teen has to be insured if they are going to drive on their own. However, that doesn’t necessarily mean that they have to be insured under your policy. 

Teens can purchase their own separate policies, but most Ohio families end up insuring teens under the parents’ auto policy because the premium is typically much more affordable that way. Even if you want your teen to pay for their own insurance, it might be wise to consider having them pay for their portion of the family premium rather than paying for their own policy outright.

Insurance Considerations for Parents of Teen Drivers

Adding your teen to your auto insurance policy doesn’t have to be a source of stress in your life. If you plan ahead, consider the suggestions below and speak with your insurance agent at Wallace & Turner so you can come out of this with a fully insured teen and a lot less stress than most parents have to go through.

Consider High Liability Limits for Teen Drivers

Due to inexperience, immaturity, distractions or some combination of these factors, most teens are more likely than the average adult to get into a car accident. Even if you have full faith in your teen’s maturity and decision-making skills, all it takes is a momentary lapse in judgment, and your family could face massive financial liability.

That’s why it’s a good idea to take a second look at the liability limits of your auto insurance policy before you add your teen. This might be a great time to consider getting higher liability coverage or even an umbrella policy.

Reduce Teen Insurance Premium Hikes by Adjusting Deductibles

There’s no question: Car insurance premiums go up when you add a teen to a policy. It’s a difficult fact for many families to face, but you can adjust parts of your policy to mitigate the impact of the increased monthly costs.

More specifically, you may be able to get a higher deductible that will lead to reduced monthly premiums. Keep in mind, of course, that this means you will be on the hook to pay more in the event of an accident. But for some families, the benefit of paying less each month outweighs the risk a higher deductible may pose. Your insurance agent can help you decide which approach is best for your family. 

Take Advantage of Teen Driver Discounts

Many insurers offer discounts to help families add teen drivers to their policies without breaking the bank. For example, some policies offer discounts for good grades. Others will discount your monthly premiums if your child takes a driver’s education or defensive driving course. Ask your insurance agent to help you find the best Ohio teen driver discounts.

Look Into Usage-Based Insurance for Your Teen

Usage-based insurance (UBI) is a relatively new auto insurance policy model that can save drivers money if they drive safely. The amount drivers can save varies widely, but the listed amounts tend to fall somewhere between 10% and 15%. 

How does UBI work? Your insurer measures data points that suggest how safe your driving habits are, such as collisions, speeds, mileage and similar factors, using your car’s own metrics systems or a device that rides along with you. Based on those measurements, the insurer offers a discount on your premiums.

In other words, if your teen is a safe driver, UBI may be a great way to reduce the cost of adding your teen to your auto policy. Your insurance agent at Wallace & Turner can help you find the right UBI policy for your family.

Seek Out Safe Cars

To reduce premium costs, insurance agent Ben Galbreath recommended purchasing an older model vehicle for your teen to drive. 

“A sedan is usually best to lower your costs versus a sports car or SUV,” Ben said in an interview with CarInsurance.com. “I recommend covering the teen for liability only until they are about 20 years old, which is the age when coverage rates tend to come down.”

When deciding which household car the teen should be attached to, Ben commented: “Most insurance companies today are moving away from insurance rating based on the car, but for those that still do, the teen should be assigned to the car with the lowest value.”

Promote the Best Teen Auto Insurance: Safe Driving

The best way to prevent injuries, financial setbacks and legal liability is avoiding accidents in the first place. And the best way to do that is to teach your teen to drive safely. Of course, insurance is still absolutely necessary and required under Ohio law, but it goes without saying, the more accidents you can avoid, the better.

Before Your Teen Hits the Road, Call Wallace & Turner

Adding your teen to your auto insurance policy in Ohio doesn’t have to be painful. There are plenty of ways to reduce the impact of increased premiums while still making sure your teen is covered and safe.

We hope this article has provided some helpful tips for adding your teen to your auto insurance, but we saved the best tip for last: If you have questions about purchasing a teen car insurance policy in Springfield or Urbana, Ohio, contact Wallace & Turner online, by phone at 937-324-8492 or via email at info@wtins.com.

Umbrella Insurance in Ohio: What It Is, Who Needs It & Why

Insurance is often figuratively compared to an umbrella. If liability and risk are the rain, your insurance policy is the umbrella because it keeps you dry. But within insurance coverage, there is also a policy specifically called Umbrella Insurance. So what does this coverage do that’s different from a standard policy? Umbrella insurance in Ohio is a way to make your umbrella of protection bigger. 

In other words, an umbrella insurance policy extends your coverage for liability. While many insurance policies already have liability coverage, they often don’t have enough. Umbrella insurance is a way to protect against that problem.

Is this type of extended coverage right for you? The team at Wallace & Turner is here to guide you through the decision by identifying which assets an umbrella policy would help cover and to determine how much coverage you should have. Our independent insurance agents are available to answer any questions you have Ohio umbrella insurance. Read on to learn more, or reach out to our team to talk about your policy options.

What is Umbrella Insurance?

Imagine you’re driving around Springfield, Ohio, when you get a distracting text message. You look down to see what it says, and in an instant, you slam into the rear of the car stopped at an intersection in front of you. The driver is hurt and his car is totaled. A few weeks later, you get notice that he’s suing you for $600,000.

Your standard car insurance may carry a liability limit of $300,000. If that’s the case, you would have to pay the remaining $300,000 out of your own pocket — that is, unless you had umbrella insurance.

Umbrella insurance is an additional policy designed to cover the difference between the liability limits on your existing policies and the amount you’re sued for. It’s also designed to cover related costs, such as the cost of a defense lawyer.

Types of Umbrella Insurance

Umbrella insurance isn’t just for car accidents, although this is a common use for the coverage. It’s actually designed to cover you against a wide range of liability. Here are some examples of the types of liability Ohio umbrella insurance can cover:

• Car accident liability

• Boating accident liability

• Homeowner liability (involving slip-and-fall accidents and similar issues)

• Libel and slander

• Commercial liability

Umbrella insurance can cover many types of incidents that standard insurance policies won’t. 

How it Works

Umbrella insurance policies usually won’t kick in until the limits of your other applicable policies are exhausted. For example, if you have a $250,000 liability limit on your homeowners policy and you are sued for $300,000 due to a slip-and-fall accident at your home, your umbrella policy would pay the $50,000 difference.

Umbrella insurance can cover your personal liability or liability related to your business. Keep in mind, however, that these types of policies are usually separated. A commercial umbrella insurance policy likely won’t cover you for an accident in your home, and a personal umbrella insurance policy likely won’t cover you for an accident at your place of business.

Things Umbrella Insurance Won’t Cover

Umbrella insurance is a particularly handy type of coverage if you have valuable assets or face a lot of potential liability, but it isn’t a catch-all. This type of insurance won’t cover everything, which is why it’s important to work with an insurance professional to make sure you’re covered in every way you need to be.

Here are some examples of things umbrella insurance policies typically won’t cover:

• Injuries that happen to you

• Damage to your property

• Liability from contract violations

• Any criminal or intentional acts you commit

• Third-party liability involving your business

Who Needs Umbrella Insurance in Ohio?

Most people could benefit from having extra coverage, but umbrella insurance is only needed if you face certain types of liability. The following are some examples of when you may need this type of coverage:

• You own property.

• You are a landlord. 

• You are a public figure.

• You coach children’s sports. 

• A new driver is part of your household.

• You own a gun, dog, trampoline, pool, hot tub or other items that can lead to injuries.

• You have a lot of guests in your home.

All of the above scenarios can mean you are particularly vulnerable to liability. And an Ohio umbrella insurance policy is an effective way to protect yourself.

Why Get Umbrella Insurance?

The primary benefit of umbrella insurance is relatively straightforward: You are better protected from being sued. But these benefits actually go deeper than that. For example, the coverage amounts for umbrella insurance in Ohio typically start at $1 million, and that will usually cost you between $150 and $300 per year in premiums. And if you need more than $1 million in coverage, you can usually add on another million for around $75 each year.

That’s pretty affordable, especially when you consider that the average car accident settlement is more than $24,000, with settlements on the higher end easily topping hundreds of thousands of dollars.

Additionally, if you’re a world traveler, umbrella insurance may be the only type of liability coverage that travels with you. Typically, your Ohio umbrella policy will cover you for liability that arises anywhere in the world.

Find the Best Ohio Umbrella Insurance Policy for Your Needs

Put simply, umbrella insurance can be a lifesaver. No one wants to be sued, but if you are a member of society, you are always at risk. It’s just like rain — any time you go out, you run the risk of getting wet. That’s why you shouldn’t leave the house without your umbrella.

Umbrella insurance can offer the kind of broad liability protection you need, no matter the circumstances you face or the value of the assets you own. There are plenty of policies to choose from, and figuring out which one is right for you can be a challenge. We’re here to help. 

The Wallace & Turner team can connect you with the perfect Ohio umbrella insurance policy to protect you, your family and your wallet. Ready to make sure you’re fully covered? Then reach out to our team. Give us a call at 937-324-8492 or contact us online today.

How much does it cost to add a teenager to car insurance? Ben Galbreath Speaks with CarInsurance.com

Ben Galbreath

Adding a teen to your car insurance policy can cause your rates to double, but there are ways to lessen the rate hike. Producer Ben Galbreath spoke with Insurance.com to explain what parents need to know about adding a teen driver to their auto insurance. 

Adding a teen to your policy will increase your rates, on average, by 102%, according to CarInsurance.com rate data. 

“Teenage drivers are inexperienced drivers who are less aware of their surroundings and have a tendency to drive too fast and less responsibly, which makes it more likely that they will have a claim,” Ben said. 

To reduce premium costs, he recommended purchasing an older model vehicle for your teen to drive. “A sedan is usually best to lower your costs versus a sports car or SUV,” Ben advised. “I recommend covering the teen for liability only until they are about 20 years old, which is the age when coverage rates tend to come down.”

When deciding which household car the teen should be attached to, Ben commented: “Most insurance companies today are moving away from insurance rating based on the car, but for those that still do, the teen should be assigned to the car with the lowest value.”

Read the full CarInsurance.com article here.

Questions about purchasing a teen car insurance policy in Springfield or Urbana, Ohio? Contact Wallace & Turner at 937-324-8492 or info@wtins.com

Ohio Mutual clients - Save 15% on your auto insurance!

A special offer for our Ohio Mutual auto customers! Download the free Ohio Mutual 9&3 Smarter Driving app and save 15% on your auto insurance simply for activating the app. The app provides feedback to Ohio Mutual on your driving, but this information will NOT negatively impact your premium.

Contact us to learn more.

I’m Moving. How Does This Impact My Car Insurance?

P.J. Miller - Partner

Why must you inform your car insurance company when you move  residences?

Your rate or cost of coverage is partly due to your “territory," or residence location – city, state, etc. If you’ve moved out of state, your auto insurance company might not operate in your new state. That could cause your policy to not be eligible on the renewal date and you would need to secure other coverage.

Your new state might require evidence of insurance for that particular state and might require that to be done within a certain number of days.

Also, so your billing gets to you – don’t let your payments lapse and then your coverage is canceled!

If you are a college student going to school out of your home state, what does it mean for your car insurance if you take the car with you?

Typically, if you take your car with you, you might not receive a discount. That usually applies when a college-age student doesn’t have the car with him/her and leaves it at home with the parents.

More cautionary than technical, the student should be reminded that allowing others to operate the vehicle could jeopardize the policy and coverage. Plus, it creates a mess come claim-time with a college-age student giving another student “permission” to drive the non-parental vehicle – usually, permissive use of the vehicle has to come directly from the Named Insured, the policyholder/parents.

How much time do you have to change over your car insurance when you move out of state?

This is subject to the new state, so always check the guidelines, but it could be as soon as 90 days. Otherwise, it should be done as soon as possible or by the next renewal date. States have different guidelines as to the minimum standard of coverage and even though your policy would usually automatically “convert” to the new state required minimum or as close to your existing equivalent, it’s always good to be aligned with your new state coverage. For example, the new state might be a “No-Fault” state and when you change over to the new coverage, there will most likely be differences in coverage for you to select from.

Questions about car insurance coverage? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.

Roadside Assistance Plans: P.J. Miller Interviewed by NextAdvisor on What You Should Know Before You Get One

P.J. Miller

Roadside assistance is one of those things that’s easy not to think about — until you’re stuck on the side of the road somewhere or your car won’t start. It’s different from your car insurance coverage because it provides relief for a temporary situation when your car is undrivable. It is usually much less expensive than your annual auto insurance premiums, or possibly without any additional cost to you.

If you drive a newer car, review the manufacturer’s roadside assistance plan first, since it’s likely included at no additional cost. “Check what benefits your new car includes, then compare to others,” commented partner P.J. Miller.

Additionally, most insurance carriers offer or include roadside assistance plans with your auto insurance coverage. But don’t assume your roadside assistance plan is tied to a large network of service providers simply because you receive it through your insurance carrier. Some carriers use the reimbursement model, which means you’d have to pay out of pocket if the need arises.

Continue reading the full article to learn more about roadside assistance plan options.

Questions about roadside assistance plans and car insurance coverage? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.

What to Do Next When Your Car Is Totaled – P.J. Miller Offers Insurance Insight to NextAdvisor

P.J. Miller - Partner

A total car loss is what happens when the insurance carrier determines it costs more to repair the damage than to fix your vehicle. It’s not necessarily because of a serious accident; your car may be totaled because of a natural event, for example. Partner P.J. Miller spoke with NextAdvisor about what to do when your car is totaled and what to expect when dealing with your insurance agent.  

When the Insurance Company Determines Your Car Is a Total Loss

“When the estimate reaches about 70% to 80% of the value of the vehicle, most likely it will be considered a total loss,” said P.J.

How Much Is a Totaled Car Insurance Payout?

Once the adjuster determines whether a car is totaled, the work begins to determine the payout. The payout is based on the fair market value, or Actual Cash Value (ACV).

ACV is simply a term for what was once called the “book value” of the car, P.J. explained — or the value of your vehicle when accounting for the depreciation that all cars begin sustaining as soon as they leave the lot. 

If you have New Car Replacement Coverage with your auto insurance policy, you may think you’re 100% covered. But “your car can’t be older than one or two years to qualify for that replacement,” P.J. warned, which further complicates how much money you receive for an insurance payout.

What Happens if You Owe More on Your Loan or Lease Than Insurance Pays Out?

“If you haven’t made payments, or are upside down or late, now there is a gap [between] what you owe and what you’re getting paid,” P.J. said. You are responsible for the shortfall, but if you have gap insurance with your auto policy, this is where it kicks in. 

Click here to continue reading the full article and learn practical steps to help you stay focused on getting back on the road safely, and perhaps with a new vehicle.

Questions about car insurance coverage? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.

What Most Homeowners Don't Know About Homeowners Insurance

P.J. Miller - Partner

Homeowners insurance protects more than just your property, it also covers the people in it and your personal belongings.

Typical homeowners coverage includes incidents related to:

• Weather: Storms, fire, wind, hail, lightning, freezing, weight of ice, snow or sleet

• Non-weather: Theft, vandalism, riots, aircraft and vehicles

• Sudden/accidental: Water from plumbing, tearing/bulging of heating or cooling systems, artificially generated electrical current

There are also situations you may not have thought of when your homeowners insurance will kick in. For example, if you have a child that is a student living in a campus dorm room, if they experience a burglary or similar type of loss, most homeowner policies will extend liability and personal property protection – this is considered “off premise” coverage.

What isn’t covered by a homeowners policy? 

Of course there are a range of losses not covered by a standard homeowners policy, but probably the most important to know is flooding is not covered. Flood insurance must be purchased as a separate policy to protect against damage caused by heavy rains, hurricanes, snow and flash floods.

With the increase natural disasters as of late, homeowners insurance is becoming harder to get in high-risk areas for flooding or wildfires. As new business to the insurance carriers or renewals; applications ask the underwriting questions as to those two perils, wildfire and flood.  Flood is somewhat of an exception since it’s NFIP/FEMA-based underwriting but they still analyze location as to proximity of water and also wind velocity. Flood Zones A/AE are subject to significant annual rate increases, typically 25% annually.

What are ways to get better coverage that people don't know about?

• Combine your homeowners policy with your auto policy to save money.

• Showing your loyalty to one insurer could help you land a discount, especially if you have multiple policies.

• Renew your plan early and you could get a discount, as well.

It can be advantageous to work with an independent insurance agent versus a national carrier. Independent insurance agencies work with a range of carriers which means they can offer a variety of insurance options tailored to your personal needs. Insurance coverage can be complex and an independent agent can provide personalized attention to make sure you understand all aspects of your policy. There are often discounts and credits available within certain coverages, and they’re able to help you take advantage of these savings. Moreover, you will have one point of contact for all of your insurance needs.

What to avoid that people don't know about?

Avoid online quoting tools. A first-time buyer, unless well-versed in homeowners insurance, should have an agent or broker explain the complexities of an auto insurance policy, rather than using an online quote. These tools are only as good as the information provided and often don't provide a complete quote for coverage that will actually be needed. 

Avoid overlooking flood insurance. Flooding is the largest natural catastrophe and largest single event natural catastrophe that ever occurs. There are some places that would say earthquakes, but from the standpoint of frequency and severity, flooding is more predominant over every other natural catastrophe. The largest negative is that you wouldn't have any coverage for the damage of your house or its contents if you don’t have flood insurance. 

If you are in an area where you should have had flood coverage because it's a high flood risk zone, and if it is a repetitive loss situation, the government (FEMA and NFIP) may not cover assistance or loans due to the repetitive nature of the floods in your area. 

Questions about homeowners insurance coverage? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.

6 Proven Ways to Lower Your Car Insurance Premium – P.J. Miller Interviewed by FOX Business

P.J. Miller - Partner

Car insurance is a necessary cost for any car owner but having a good auto insurance policy doesn’t have to mean paying sky-high premiums. Partner P.J. Miller spoke with FOX Business to offer six ways you can lower your car insurance premium.

1.     Review your policy frequently. Auto insurance isn’t something you should set and forget. When your situation changes — even slightly — you’ll want to let your insurance agent know to make sure you’re getting the best rate and have the right amount of coverage.

“Rates can differ by a few dollars to a few hundred,” said P.J. If you have several cars and higher-risk drivers, the difference could be in the thousands, he said.

2.     Don’t pay for insurance you don’t need. “Eliminate coverage when you don’t need it,” P.J. said. “Older cars might not need collision coverage. If you haven’t already removed the physical damage coverage — comprehensive and collision — to reduce your cost, it can be a consideration.”

3.     Bundle your insurance plans. Most insurers offer discounts if you have several policies with them. “Combine your coverage,” Miller explained. “Bundle your auto coverage with your home or renters' insurance policy. Showing your loyalty to one insurer could help you land a discount, especially if you have multiple policies.” 

4.     Increase your credit score. “Most carriers use credit as a portion of the rate-setting process, where permitted by law,” P.J. commented. “While it is supposed to be a portion of the rate calculation, most believe it plays a significant role in determining the price.”

5.     Raise your deductible. An easy way to reduce any insurance premium (car, home, rental, etc.) is to increase your deductible — or the amount you pay per claim before your insurance kicks in their portion. Generally speaking, the higher your deductible — meaning the more you pay out of pocket — the lower your premium will go.

6.     Be a good driver. Many insurers offer premium reductions for claim-free periods — sometimes significant ones, too. According to P.J., “being a safe driver can lower your car insurance by approximately 5%.”

Because claims and tickets send premiums rising, smart driving habits also protect the rate you already have. “Slow down,” P.J. cautioned. “Speeding tickets can dramatically impact your rates.”

Read the full article at FOX Business.

Questions about car insurance coverage? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.