Ways To Cut Boat Insurance Costs

by Administrator 21. September 2015 12:02

Recreational boating is an interesting activity for many people. However, it is also important to have a sound insurance plan for your boat. Whether you have a small boat or a luxurious yacht, getting an adequate coverage will help you stay protected against unexpected damages and financial liabilities. There are certain ways by which you can cut down on your boat insurance costs. Some of these have been discussed below:

  • Avoid over-insuring: You should not pay for any such coverage that you do not require. Make sure you carefully analyze the type, features and usage of your boat to determine the coverage options that you actually need.
  • Boater Education: It can be beneficial if you enroll yourself for boater education classes. It may help you to become eligible for certain discounts and offers on your insurance policy. So, boating safety education can be an asset in this case.
  • Driving Record: A good driving record can also help you save money in boat insurance. With a clean track record, you are more likely to drive safely and file a claim for accidental damages to your boat. This can help to reduce your insurance premiums. 
  • Type of Water: The type of water in which you will be using your boat also determines the cost of your insurance policy.  You may have to shell out less money for insurance if you sail your boat in fresh water. On the other hand, boat insurance costs will be higher for salt water usage.
  • Inland Operations: Even inland operations require you to pay lower premiums. Therefore, you must give all the details to the insurance agency before finalizing the boat insurance policy.
  • Storage Facility: A good storage facility for your boat can fetch you an insurance discount. So, you must try to store your boat in a safe and secure place to lower the risks of a theft.
  • Combined Insurance: The insurance agency may also provide the facility of combining the boat insurance along with the homeowners and auto insurance policies. This helps in reducing the total amount of premiums that you need to pay. You must ask for any such provisions before signing the final document.

We, at Shawn Camp Insurance Agency, Inc., offer comprehensive boat insurance in Killeen, TX. For more information, you can call us at (254) 526 – 0535 or visit our office at 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542.

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What Is Covered By A Standard Homeowners Policy

by Administrator 14. September 2015 07:27

Homeowners insurance provides protection against the financial liabilities that may incur in the event of unexpected damage to your home. However, the type of coverage provided by most insurance policies may differ. Some may include damage caused by natural disasters like flood, earthquake, theft, vandalism etc. while others may provide compensation for other types of perils.

Here are some of the common coverage options offered by a standard homeowners insurance policy:

  • The structure of your house: This involves the cost of repairing or rebuilding the house following the damage caused due to natural incidents like fire, hurricane, lightning or other disasters covered by your policy. In most cases, homeowners insurance also provides coverage for the structures attached to your home, such as garage, storage shed, patio etc. Usually, these structures account for approximately 10 percent of the total insurance amount.
  • Personal liability protection: The insurance policy provides liability coverage if someone get injured on your property. It also includes damage caused to someone’s property by you or your family members.  In such cases, the policy pays for the medical bills of the injured person as well as the cost of defending yourself in the court, in the event of a lawsuit.
  • Personal belongings: Your homeowners insurance may not only cover your home, but also provide coverage for your personal belongings stored within it. These may include your clothes, jewelry, furniture, electronics etc. that are either damaged or stolen. Some polices also provide an off-premise coverage, i.e. your belongings are covered no matter even when they are somewhere out of the house. It is important that you have an estimate of the approximate value of your personal belongings to purchase a sufficient coverage.
  • Additional living expenses: This covers the costs of living when your house has been damaged to the extent that makes it inhabitable. The homeowners insurance will pay for the expenses of your food, accommodation, transportation and other basic necessities of daily living till your house is rebuilt. Different insurance policies usually have a time or percent limitation in the coverage provided for additional living expenses.

We, at Shawn Camp Insurance Agency, Inc., provide comprehensive homeowners insurance in Killeen, TX. Our agents will help you understand the different coverage options and choose the most suitable policy according to your needs. For more information, you can call us at (254) 526 – 0535 or visit our office at 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542.

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Motorcycle Insurance Jargons Explained

by Administrator 7. September 2015 12:45

If you are planning to buy motorcycle insurance, you might have come across several terminologies that seem difficult to understand. However, having a proper knowledge of these terms is important to ensure that you are getting the best deal. Here are some of the common motorcycle insurance jargons along with their simplified explanation:

  • Agreed value: It is the amount that insurance company sanctions to insure your bike. The amount is based on the value of your motorcycle depending upon its make and model.
  • Sum insured: It refers to the maximum amount that the insurance company will pay in case of the total loss. The sum insured is explicitly mentioned in the policy schedule. You must review the sum assured at each renewal of the policy.
  • NCB or NCD: These abbreviations refer to No Claim Bonus or No Claim Discount. Their amount varies depending upon the period you had motorcycle insurance without making a claim.
  • Endorsement: It refers to the changes in the terms of the policy.
  • IPT: It is the Insurance Premium Tax that is levied by the government on all the insurance premiums.
  • Policy Schedule: It mentions the details of the coverage offered under the insurance policy.
  • Certificate: It is the document of proof that you have bought the motorcycle insurance. You may need to show the certificate to police when required.
  • Excess: In case you need to make a claim, you may have to pay a small amount initially, which is known as excess. Paying excess is compulsory and you can choose how much you are willing to pay. The more you pay, the lesser will be the premium.
  • Exclusion: A provision that explains what circumstances are not covered under the policy.
  • Period of cover: The time period for which your bike is insured.
  • Premium: The premium defines the monthly or annual amount that you pay for your motorcycle insurance. This depends upon the type of insurance you buy and the potential risk of damages or loss to your bike.
  • Protected bonus: This is the extra amount paid to protect the no claim bonus so that if you make a claim, you are still able to keep your no claim bonus.
  • Renewal: Renewal is the offer by the insurance company that allows you to renew the policy for another term. The renewal notice mentions all the details of the premium, amount of cover, excess value, agreed value, and so on.

We, at Shawn Camp Insurance Agency, Inc., can help you choose the most suitable motorcycle insurance in Killeen, TX. For more information, you can call us at (254) 526 – 0535.

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