Archives August 2022

Getting into a car accident is every driver’s nightmare. The majority of individuals utilize cars as their main form of transportation to and from work, school, the grocery store, long road trips, and other daily activities. However, the more time spent on the road, the more likely you are to eventually find yourself in a car accident.

Whether serious or minor, car accidents are incredibly stressful and often difficult to navigate in the moment. Your adrenaline may be running, you may need to make a few phone calls to family members, and you will need to determine whether or not your car is drivable. It may be difficult to determine the proper steps to take with your insurance company, so we have provided a few items to accomplish if you are in a car accident.

What to Do If You Get into a Car Accident

These steps should be completed after checking yourself and your passenger(s) for injuries, moving your car to a safe space on the side of the road if possible, and calling 911 for assistance.

#1 Exchange Information

If other drivers are involved in the accident, it is important to exchange contact information with the other individual(s). Be sure to gather the full name and contact information, insurance company and policy number, driver’s license number, license plate number, the make/model of their vehicle, and the location where the accident occurred.

During this exchange, ensure that you do not admit fault for the incident. Fault will be determined by the insurance provider, based on the information provided by the drivers, damage caused to the vehicles and the surrounding area, and any documentation provided by the police officers on the scene.

#2 Document the Accident

While at the scene of the accident, it is important for you to gather documentation. It may be tempting to just provide the details requested by police, but you will need a record of details to report to your insurance provider as well.

First, gather the names and badge numbers of all police officers on the scene. Next, ask the officers how you can obtain a copy of the accident report to give to your insurance provider. Third, take photos of both vehicles from all sides and the scene and surroundings of the accident, ensuring that you capture all resulting damage. Fourth, write down the names and addresses of all parties involved, including passengers in the other vehicle and witnesses who saw the accident occur.

#3 Begin the Claims Process

While at the scene of the accident, you may begin submitting a claim with your insurance provider, either through their mobile app or by calling the provider directly. This is more efficient than calling the provider after leaving the accident, since the provider will likely ask for detailed information that you may not remember after the fact.

They will also provide you with general expectations for the claims process. If your vehicle cannot be driven after the accident, your insurance company will assist you in having the vehicle towed to an auto-mechanic shop.

#4 Keep Records

Finally, it is important to keep all accident-related documents in a single location. This will be helpful in case you need to refer back to the documents in the future. This file should include:

• Claim number
• Adjuster who is handling the claim
• Contact information for all involved parties
• Rental car receipts and all other related expense receipts

Do You Need Auto Insurance Assistance?

Have you been in a vehicle incident recently, or are you looking for auto coverage? At GWK Insurance, our licensed agents are prepared to help you. We understand the stressful nature of car accidents and are ready to guide you through the claims process. Contact us for more information, whether online, in person, or over the phone.

There are multiple decisions for homeowners when selecting and purchasing home insurance. Homeowners must choose their policy’s deductible in addition to the coverages, limitations, and endorsements they want.

The majority of insurance companies give policyholders a variety of deductible options. It’s crucial to choose wisely because the decisions you make and the deductible you select will directly affect your premium. Understanding how deductibles work will help you make the most of your money.

What is a Home Insurance Deductible?

Your deductible is the sum that you and your insurance company agree that you will pay when you file a claim. Your home insurer pays the remaining claim amount up to the limit of your policy after your deductible has been reached.

Your home insurance company will take the deductible amount from the total claim settlement it offers you. The amount of your home insurance deductible might be either a fixed financial sum or a percentage of the cost of your policy. The deductible is fixed for the duration of your home insurance coverage once it is chosen.

Types of Home Insurance Deductibles

There are two types of home insurance deductibles, a dollar-amount deductible, and a percentage deductible.

A flat deductible is another name for a dollar-amount deductible. Every time you make a claim under your house insurance, you must pay a set fee. Average house insurance deductibles range between $500 and $1,500.

A percentage deductible is calculated using a portion of the insured value of your home. If you have a 1% deductible and a $500,000 house insurance policy, the reimbursement for any home claims will be $5,000 less. Compared to what you would have to pay with a dollar-amount deductible, this is more expensive.

How Do I Pick the Right Home Insurance Deductible?

Many homeowners consider the monthly premium amount added to their mortgage payment when deciding which insurance deductible to choose for a policy.

Homeowners may want to reduce their monthly premium payments, and choosing a higher deductible can help do this. Consider a large deductible as a one-time investment in your future finances.

Normally, it’s a good idea to choose a deductible that you will be able to afford should you need to submit a claim, but there can be benefits to picking the highest deductible you can manage. Higher deductible choices typically result in reduced monthly prices for house insurance policies. A greater deductible will lessen your likelihood of making a little claim, which could prevent you from receiving a discount or raise your premiums.

When selecting a deductible for your home insurance policy, there are a few questions to consider:

• If you had a claim, how much could you afford to pay out-of-pocket?
• How affordable do you want your homeowner’s insurance premium to be?
• If you don’t submit a claim, are you eligible for a discount?
• Will making a claim result in higher premiums?

Choose the Best Homeowner’s Insurance and Deductible for Your Needs

Having the right insurance policy with a deductible you can live with is important for homeowners when navigating the many curves life can throw at you at a moment’s notice.

At GWK Insurance, we understand that shopping for the best policy that meets your unique needs and budget can be challenging. We’ll help you find the best homeowner’s insurance policy that checks all the right boxes for you. Contact us today to learn how we can help you.

There’s nothing quite like taking your motorcycle out for a ride, whether it’s your weekend getaway or the way you commute to work every day. Of course, being properly insured is the best way to enjoy your ride no matter where you’re traveling.

Florida is unique in that the state’s motorcycle laws don’t require that you purchase motorcycle insurance to register and ride your bike. However, it is important that you understand that not having coverage leaves you in financial jeopardy in the event of an accident.

When looking for motorcycle insurance, there are a few things to keep in mind. The Insurance Information Institute (III) advises starting by obtaining several quotes from multiple providers. Look at motorcycle quotes with comparable coverages, limits, and deductibles for an accurate comparison.

How to Compare Motorcycle Insurance Quotes

Shopping for motorcycle insurance doesn’t need to be complicated, but there are important elements to note. Here are some key things to be aware of so that you can compare quotes effectively and find the best policy for your needs.

Liability Coverage

While additional motorcycle coverage is often optional, liability coverage is typically required by law in every state. However, you should check with your agent about the insurance requirements in your jurisdiction.

Liability insurance may assist in covering costs associated with another person’s injuries or their damaged property if you cause an accident. Make sure you choose the same coverages for each quote if you want to compare motorcycle insurance prices accurately.

Determine Your Desired Level of Coverage

Your first step is to determine the amount of liability coverage you need. This covers damages caused to the other motorist and their vehicle similar to liability car insurance. While a motorcycle isn’t likely to cause as much damage as a car or a truck in the case of an accident, it can still be very costly. If you are at fault and cause both property damage and bodily injuries in a worst-case scenario, you could be responsible for thousands of dollars.

Here are some typical motorcycle coverage choices that you might be able to obtain in addition to liability coverage:

• Collision Coverage
• Comprehensive coverage
• Bodily Injury Coverage for Uninsured and Underinsured Drivers
• Personal Injury Protection and Medical Payments Insurance (not available in all states)

Coverage Limits

The maximum sum that your policy will cover for a covered loss is known as a limit. Check the limits for each of the coverages you choose when you compare quotes. Higher coverage limits tend to mean higher premiums. There will be a cap on the amount the insurer will pay out for repairs, medical expenses following an accident, or to assist in reimbursing you for a stolen motorcycle under a motorcycle insurance policy.

Keep in mind that that increasing your liability limits will allow you to purchase more liability insurance. Think about your capacity for paying out of pocket if you caused a collision that caused someone harm. You might determine that raising your liability limits is wise if their medical bills exceeded your liability limits.

Collision Coverage and Comprehensive Coverage

These limits are typically up to the actual cash value of the motorcycle.

Uninsured and Underinsured Motorist Coverage

In states where this coverage is optional, you choose your policy’s limits.

Medical Payments Coverage/Personal Injury Protection

Some states may require motorcyclists to carry these coverages and the state determines the mandatory limits.

Next, decide what level of property and bodily injury coverage you need for your own protection. Comprehensive, collision, gap insurance, personal injury protection (PIP), MedPay, and uninsured/underinsured driver coverage are all potential coverage options. To protect your income and assets in the event of an accident, you must make sure you have adequate coverage.

You can start comparing prices once you are clear on how much coverage you require.

Comparing Deductibles

A deductible is typically associated with most policies including collision and comprehensive coverages. The deductible is the dollar amount you select when purchasing coverage. It represents the out-of-pocket expenses for a covered claim.

For instance, if your deductible is $500 and you need $1,500 in covered repairs for your bike, your insurance company will probably pay $1,000 toward your claim.

According to the III, a larger deductible typically translates into reduced premium payments for you.

As you are comparing rates, make certain the deductible you select is the same for each estimate you receive.

Shop the Best Motorcycle Insurance for You

While motorcycle insurance is not required in Florida, having any amount of coverage can be beneficial. There are several policies and providers to choose from, so it is important to evaluate your needs and budget to help narrow down your options.

Shopping for an insurance policy can often be a hassle and extremely time-consuming. At GWK Insurance, we help you find the best insurance policies to meet your unique needs and budget. Contact us today to help you find the best quotes for your insurance needs.