Archives February 2022

auto insurance

Mistakes to Avoid When Choosing Your Auto Insurance Policy

Buying a car is one of the largest investments an individual will make in their lifetime, and ensuring that it is properly insured is important. However, choosing the best auto insurance policy can be complex, as there are many things to consider all while staying within your budget.

While there may not be a one size fits all answer to choosing the best auto insurance policy, there are a few big mistakes that everyone should avoid.

3 Mistakes to Avoid When Choosing Your Auto Insurance Policy

#1: Not Knowing the Insurance Coverage You Need

Each state has different insurance coverage requirements. That being said, many drivers may only have the coverage required by law but need additional insurance coverage to be fully protected. The key is to find the balance between cost and coverage so you have adequate protection that fits your budget.

Consulting with an insurance agent can help you best determine what kind of coverage you should have based on a variety of factors.

#2: Choosing the Wrong Deductible Amount

Another common mistake that you should avoid when choosing your auto insurance policy is having the wrong deductible amount. It is no secret that a higher deductible generally results in a lower premium, and vice versa. But that may not be ideal for your financial situation.

Unless you have a substantial rainy-day fund that will cover the cost of your deductible, it may be better for you to have a lower deductible in your auto insurance policy.

#3: Not Comparing Policies

Just because one insurance provider’s policy is one amount doesn’t mean another provider offering the same policy will cost the same amount. Many drivers will choose the first policy they are quoted without shopping around for a better deal with the same coverage.

This mistake often results from the hassle it can be to shop around. However, by contacting an insurance agent, you get assistance with shopping quotes and easily choose the best auto insurance policy for your needs and budget.

Get Multiple Auto Insurance Policy Quotes

While car insurance often gets undervalued until a driver needs it, having the right policy can substantially protect you and your finances. It is important to shop for the right coverage that is also at the right price point for you.

At GWK Insurance, we help individuals find the best insurance policies that meet their unique needs and budget. Contact us today to get help shopping for the best auto insurance policy for you.

homeowner's insurance

3 Ways to Lower Your Homeowner’s Insurance Premium

Your home insurance policy can financially protect you from unexpected accidents that occur, such as natural disasters, vandalism, or theft. However, sometimes the price you’re paying for your insurance premium may be too steep.

Homeowners’ insurance policies and premiums can vary by hundreds to thousands of dollars, depending on the insurance company and other factors outlined in your policy. This often makes it challenging to determine how much you should be paying for quality coverage.

3 Tips to Reduce Your Homeowner’s Insurance Costs

Sometimes, your monthly insurance premium may be a bit outside your budget. The following are few tips to help you reduce your homeowner’s insurance premium.

#1: Increase Your Deductible

Oftentimes, if you increase your deductible, you can lower your premium. However, you should consider that in the event you need to file a claim, your deductible will be the amount you are expected to pay before your insurance provider pays the rest.

So, if you are going to increase your deductible to lower your monthly premium, be sure that you can afford your deductible down the road should you need to file a claim.

#2: Invest in Safety Features

If you have a pool or trampoline, you are likely paying extra for these safety hazard structures. While they may be fun, they also are considered liabilities to your insurance provider. Investing in safety features, such as a gate or fence, around these structures can potentially reduce your insurance premium.

Other safety features you might want to consider to help reduce your insurance premium could include upgrading your smoke detectors or installing a monitored alarm system.

These could save you between 5-20% depending on your policy. Before you install these systems, check with your insurance provider to see if you would be eligible for discounts or a lower premium.

#3: Shop Around

Insurance is a for-profit industry, with multiple companies competing for your business. That is beneficial for you because you always have options. Take some time to shop around and choose a reputable provider who offers you the best coverage for your specific needs at the right price point

You can often find a better rate and even eliminate any unnecessary coverage by shopping around. You should also speak with an experienced insurance agent who can help you understand exactly what your current policy covers and provide you with several additional quotes so that you get the best policy possible.

Helping You Shop for The Right Homeowner’s Insurance

Shopping for the best homeowner’s insurance policy and reducing your premiums can be overwhelming and challenging.

At GWK Insurance, our experienced agents can help you save time and find the best insurance policy to meet your unique needs. Contact us today to get started and see how we can help you find a policy that meets your needs and budget.

business insurance florida

3 Reasons You Should Consider Commercial Insurance for Your Business

There are many freedoms and benefits to owning your own business, but there are also several risks, such as employee injuries, national disaster damages, or being sued by a customer.

Commercial insurance is often one of the most important investments you can make to protect your company from these types of severe financial losses.

Understanding the insurance options for your commercial business can be challenging. However, by working with a reputable agent, you can design the best commercial insurance policy most appropriate for your business and line of work.

Types of Commercial Insurance for Your Business

There are several options available when choosing which type of commercial insurance best suits your business. There are three primary types of commercial insurance:

  • Liability insurance to protect you from third party damages
  • Property insurance to cover property damages resulting from fires, floods, etc.
  • Worker’s compensation to protect you in the event an employee is injured on the job

Each of these three broad categories of commercial insurance has additional, specialized forms of coverage to protect you from specific liabilities your business may be subject to.

commercial insurance policy

3 Reasons to Consider Commercial Insurance

When you purchase any type of insurance, you’re financially protecting yourself from potential unforeseen damages. Similarly, that is why many businesses find it crucial to invest in a commercial insurance policy that protects them from common issues, such as property damage, theft, liability, and employee injuries.

Having adequate commercial insurance coverage can help protect you from these many unforeseen losses that can arise.

But there are additional reasons why you should consider a commercial insurance policy for your business, including the three listed below.

#1: Builds your business’s credibility

In addition to helping protect your business, having the appropriate commercial insurance in place can help boost your business’s credibility. It shows that you take risk management seriously and communicates that you provide the right protection for you and your associates.

#2: May be required for certain contracts

Several businesses may require that you have insurance protection before working with you. Without having the appropriate commercial insurance policy in place, you may end up losing out on a bid or a contract. When it comes to winning more bids, clients, and customers, you will likely be more able to do so when you invest in the appropriate commercial insurance.

#3: Provides peace of mind

Like any insurance policy, having a commercial policy for your business ultimately provides you with peace of mind. While you can may try to anticipate your business’s risks, no business has a crystal ball that can predict (with certainty) what accidents will occur. Investing in a commercial insurance policy helps to mitigate the financial loss that those risks pose now and in the future.

Choosing the Best Commercial Insurance for Your Business

Investing in adequate commercial insurance coverage for your business helps you recover financially from the many types of losses that can arise. However, determining the right coverage for your business’s unique needs can be just another challenging task to add to your already busy schedule.

That is why it is beneficial to work with an insurance agent who has extensive experience in commercial coverage. At GWK Insurance, we can provide you with the best quote and coverage options to meet your business’s specific insurance needs. Contact us today to find the best coverage for you.