Lower Your Auto Insurance

It’s the question that’s been around since the first car was sold, “how can I lower my auto insurance?”

You go to the mailbox and find a letter from your insurance company, your hands are shaking because you know there is a possibility that  your rates are about to go up. If you are like most of us this year your rates did go up.

I didn’t have an accident or a speeding ticket, why did my rates go up?

There are many reasons why rates go up, the simplest answer is “bad drivers”.  Fatal accidents are the highest they have been in over a decade and are increasing each year. The largest factor in these increases, distracted drivers.

So how do you combat these rate increases? Here are a couple of tips to keep your rates as low as they can be.

 

1. Bundle Multiple Policies With The Same Insurer

Many insurers will give you a discount when you have multiple policies with them. If you are not a homeowner don’t worry, most insurers will still give you a discount for the other types of insurance you need like renters insurance, umbrella insurance and personal articles insurance (jewelry, engagement rings, etc.)

2. Ask For More Discounts

Are you getting all of the discounts that you are eligible for? Different insurers have different discounts. Discounts can range from safe driver discounts to new car discounts and everything in between, some insurers will even give you a discount if you have a College Degree. Bottom line, if you think you are missing out on some discounts be sure to ask your insurer or your agent.

 

3. Pay Your Bills On Time

This goes for all of your bills, not just your insurance. Most people are aware that their credit score is one of the largest factors in how much you pay for car insurance. If you let your insurance lapse will also play a role in if an insurer will even offer you insurance. If you know you will be shopping around for insurance soon, try to get your score up by paying down some debt and being careful on the number of credit inquiries you have. Every point helps when it comes to your credit score.

 

4. Raise Your Deductible

The higher your deductible, the lower your payments will be. The more risk you take responsibility for (higher deductibles) the lower amount of risk you leave for the insurer. Be sure you raise your deductible to a rate that you are comfortable paying if an accident does occur.

 

5. Get Multiple Quotes

Don’t stop with just one quote. A lot of agents are limited to quote you for the insurance company they work for, these are called captive agents and they can only quote one company. Get quotes from different insurers, insurance companies’ discounts and rates change all the time. Just because your insurance company had the lowest rate last year doesn’t mean they have the lowest rate this year. Another insurance myth is that each quote will show an inquiry on your credit report. Insurance companies never do a “hard pull” on your credit. You can get as many quotes as you like and they will never hurt your credit score!

 

6. Choose The Right Coverage

Don’t be over insured, but don’t be under insured. Make sure your coverage fits your lifestyle and your budget. If you have an older car you may want to consider only carrying liability insurance. Ask your agent if this will be a good fit for you. Don’t be afraid to get a second opinion!

 

7. Drive Safe

We all know that accidents and speeding tickets can and will affect your rates. So don’t speed and try not to get distracted by today’s gadgets while driving. It can take years for these violations to fall off your driving record.

 

8. Lock In Your Rates

If you have the option to go for a 12 month policy and you have no violations, take it. You will lock your rate in for the entire term if something does occur. Some insurers don’t offer more than 6 months at a time, this is because they can adjust your rates if something does happen.

 

9. Pay Your Policy In Full

If you can afford it, pay your policy for the full year. Most insurers will give you a discount for paying in full. If you do choose to make payments you will also pay an installment fee, this is generally no more than a few dollars per month but it all adds up!

 

10. Use An Independent Insurance Agent

Independent insurance agents can  give you quotes from multiple insurance companies. Captive agents can only give you a quote for the company they work for. Independent agents generally have the knowledge of which company will fit your needs and budget best!

 

Fairway Insurance is an Independent Agency Servicing all of your insurance needs. Call or email us today to see how much you can save on your Auto Insurance!

Do You Need Life Insurance?

Life insurance is a type of insurance that most people do not think about getting until later in life if they get it at all. However, life insurance through Fairway Insurance, serving Raleigh and Cary, NC, can be very inexpensive and provide a lot of benefits. If you are not sure whether you need life insurance or not, then you should ask yourself some questions to see if it is something you need. 

  • Do you have any substantial debts? There are some debts that will be forgiven when you pass but there are others that will still need to be repaid. If you have these kinds of debts, you need to have a plan for them to be paid off. You also want to make sure that you don’t add more of a financial burden to those you leave behind. 
  • Do people rely on your income for survival? If you have a spouse or children that need your income for survival, then you should get life insurance to help them if you were no longer here. Whether that is paying for basic needs or helping your children get through college, it can also determine the amount of life insurance you need. 
  • Do you have any money saved? If you do not have any money saved to cover the cost of your goals, such as paying off your debts and taking care of your loved ones after you are gone, then you need to have life insurance. 

By answering these questions honestly, you should be able to determine if you need life insurance and possibly how much. Knowing that you need it is a great first step. Fairway Insurance, serving Raleigh and Cary, NC, can help you find the right policy as well as the right amount to meet your needs. Contact us today to get started on your quote. 

Five things you need to do before you purchase auto insurance

In almost every situation, buying some form of auto insurance is required by law and is a significant way to protect yourself against financial liabilities when you’re out on the roads. However, you have a lot of options when you buy auto insurance in Charlotte, NC and a lot of things to take into account to find the best policy for you.

The following are five things you need to do before you purchase auto insurance from Fairway Insurance:

  1. Figure out what type of coverage you need and/or want- Different types of coverage include collision, comprehensive, liability, uninsured/underinsured motorist protection, and personal injury protection. Which type(s) you need depends on various factors including the value of your vehicle, whether or not your car is financed, and how much coverage you need for adequate protection.
  2. Educate yourself on state requirements- One important thing to be aware of is the fact that states set their own laws about insurance coverage. You need to figure out what your state law requires to find an acceptable policy.
  3. Determine if you’re eligible for discounts- Insurance providers typically offer a variety of different discounts for things like insuring multiple vehicles, getting good grades for students, and having a clean driving record. Look into any discount that is available to you to find the lowest premiums.
  4. Work premium payments into your budget- Once you have some quotes on premiums, you need to figure out how you can fit them into your budget to make sure you’re not late on insurance payments down the road.
  5. Shop around- Compare quotes from different providers to get the best rate.

Contact Fairway Insurance to learn more about options and requirements when it comes to insuring your vehicle in Charlotte, NC. Our agents can answer your questions and our online rating tool can give you a quote on home and auto insurance.

5 Facts about Commercial Insurance That Will Blow Your Mind

Home and auto insurance policies are designed to protect your possessions, but the situation can get worse if assets owned by a private company or your business become damaged or lost. If you own a registered business, it is imperative that you secure a commercial insurance policy from Fairway Insurance in Raleigh, NC.

Below are five mind-blowing facts about commercial insurance policies. 

1. The Coverage can be Customized to fit the Business

Every industry has some specific hazards it faces. For this reason, the commercial insurance policy can be tailored to meet those specific challenges. A perfect coverage for a farmer can be of less use to clothing retailer since business needs are not always similar. 

2. Commercial Insurance does not only Cover Property Damage

Professional policy options such as theft, vandalism, and fire coverage can be introduced in the commercial insurance policy to help you get compensation in the event of property damage or destruction. Also, this policy can cover monetary expenses resulting from loss of access to a business property. As such, if there is a fire incident on your business premises, you are guaranteed that not only the damage will be covered but also the loss of income while you are out of business. 

3. Liability is taken into Consideration

A customer can get hurt while on your property and decide to sue you. In such scenarios, commercial insurance can be of great help since it will cover for all your legal fees. Notably, commercial insurance can be designed to cover different liabilities such as errors and omissions risks, professional and malpractice liabilities, libel, accident/injury liability, and product liability.

4. Protects you from Cyber Criminals

The most insidious and constantly rising threat in the business world is posed by cyber criminals. Hackers can target the computer system of your business remotely, lock them down, and then demand ransoms. Alternatively, they can misinform your customers and steal their data thus affecting the reputation of your business.

5. It is Cheap

Considering the amount of coverage, commercial insurance is considerably cheap which makes it easily affordable even for low-income business people. The annual amount that you remit to the insurance company is, in most occasions, lower than the total sum of your primary insurance policies.

In a nutshell, if you own a business, it is high time you visited Fairway Insurance in Raleigh, NC for a commercial insurance policy. Our agents can help you determine your policy options and answer your questions.

Understanding Home Insurance

A number of people have shallow understandings when it comes to their home insurance. Home insurance in North Carolina is a form of policy whereby several protections are combined into one unit. They may understand enough to call if a burglary occurs, but not enough to know whether they should or shouldn’t if water spills on the new home theater system. Read on to find out how home insurance works in Cary, NC.

There is a myriad of factors that are taken into consideration when determining the cost of home insurance. Generally, the policy includes an estimated total cost involved with replacing a home as well as several other items. Home insurance documents are long and detailed and give comprehensive information on what is covered or not. Floods, earthquakes, and war are some of the things not incorporated into the insurance policy.

For a house to be covered against such eventualities, a homeowner will have to purchase a separate insurance plan. A policy for home insurance is made for a specified period and payment, known as a premium, made to an insurance company like Fairway Insurance. An ordinary homeowner’s insurance policy has two sections. The first section includes the property of the insured and the second section includes the personal liability coverage that needs to be insured.

The homeowner is required to give details about one’s occupation, date of birth, employment history, social security number, and marital status. The insurer should also check the insurance, credit, and criminal history. The choice of homeowner’s policy, deductible, and how the premium will be paid is entirely up to the homeowner.

For more information on home insurance, call or visit Fairway Insurance in Cary, NC today and we will be glad to offer our services or answer your questions. We also offer an online rating tool that can provide you with home and auto insurance quotes from home.