Life Insurance From Your Employer

My biggest responsibility as an Allstate agent is to provide financial security to all of my clients. What does financial security mean? To me, it means protecting everything you own as well as the people you love. Most people think of Allstate for their home and auto insurance, but usually not life insurance. Life insurance tends to be ignored, delayed or purchased at work. Commonly, people say they have life insurance through work. While that is a great starting point, it can leave some major gaps in your planning. Here are a few reasons why.

Employee discussion on life insurance

Salary Multiple

The amount of life insurance offered in an employer setting tends to be only 1-2x salary. This is vastly inadequate considering the average family needs 8-10x salary.

Do you and your spouse have life insurance outside of your employers, equal to at least 8x your salary?

Portability

Group life insurance from your employer is only good while you work there. It is not portable – meaning if you decide to quit, retire or get laid-off you lose your insurance. In this economy, that can be a real concern. On the other hand, your own individual policy stays with you for as long as you pay the premium.

Cost

Life insurance at work is usually more expensive assuming you are in good health and could qualify for your own policy. Think about it this: if an insurance company has to guarantee insurance to everyone in a group they have to raise rates to account for the less healthy.

If you are in good health, purchasing life insurance on your own can be more affordable and you can take it with you no matter what happens with your current job.

I am not against group life insurance from your employer because it can be a great starting point, especially if your boss is paying for it. However, individual life insurance tends to be better solution. What’s even better is that Allstate just came out with their Auto/Life Discount for customers with both auto and life insurance. Contact me to see how much you can save!

Want more information? Please visit Matt Elwood - Allstate Insurance to get more information on the Allstate products and services I can offer in Port Angeles, Sequim or anywhere Washington State. 

How to Get Insurance When Moving to Port Angeles, Washington

Matt Elwood, Agency Owner

You have finally decided to leave the rat race and move to the beautiful Olympic Peninsula. One of the many things on your to-do list may be to get new home and auto insurance, especially if you are coming from out of state. How do you go about doing that?

When changing insurance agents, there are some important things to remember. These apply if you are moving from a different state, a different insurance company, or you just want to go through a different agent in the company you are currently with. If you follow these tips, it will make the process of changing agents much easier.

First of all, contact your new agent before your current policy expires. A lapse of even one day can drastically impact your new rates and might even prevent you from being able to have a new policy. This is especially true for car insurance.

It is also helpful to have your current insurance in front of you so you know what coverages you have. It makes it easier to get an accurate quote if you know what you want.

Keep in mind that if you’re moving from one state to another, your insurance will probably be different. Even if you stay with the same company. Every state is different regarding premiums and discounts. There are also certain coverages that differ from state to state. And required state minimums also vary.

If you are relocating to the Olympic Peninsula area and need a new insurance agent, please contact Matt Elwood of Elwood Benefits at 360-452-9200.

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Auto Insurance Discounts For Single People

Saving money on your car insurance

Being single definitely has its financial advantages, but you may be missing out on some car insurance discounts that your married friends currently enjoy. Here are 3 discounts that you can take advantage of on your own.

Premier Plus Discount

The Premier Plus discount is available to you for being accident free for the past 5 years as well as maintaining prior insurance with a standard carrier for the past 3 years. The lesson here is that being a responsible driver and maintaining your insurance with no lapses in coverage is a smart thing to do. The amount of discount varies with your rating group and coverage type.

Good Payer Discount

The Good Payer discount is definitely one to take advantage of. This discount gives you 5% for paying your bills on time. In the state of Washington that is defined as having no cancellation bills sent to you in the past 12 months. It may vary from state to state so check with you agent.

EZ Pay Discount

Here is another easy one. The EZ Pay discount is another 5% if you elect to pay via Electronic Funds Transfer (EFT) at the time you buy your policy. However, if you remove the EFT, the discount will be removed at your next policy removal.

These are just a few of the discounts available on your auto insurance. Next time you speak with your agent, make sure you are getting all the possible discounts you qualify for. If you would like a free car insurance quote along with a review of your discounts, please contact me at 360-452-9200

Want more information? Please visit my official Allstate Agency Website to get more information on the Allstate products and services I can offer in Port Angeles, Sequim or anywhere Washington State.

Auto Insurance Discounts For Families

Save on your insurance by bundling!

Are you looking for ways to save money on your family budget? Car insurance discounts are a great place to start. There are several discounts available, but here are 3 great ones for your family to take advantage of if you are not already.

Multiple Policy Discount

You have probably heard it a thousand times on television or radio, but bundling your insurance policies with one company can save you a lot of money. The multiple policy discount is recognized by having your auto insurance along with your homeowners insurance, renters insurance or condo insurance policy together. You can save several hundred dollars a year by doing this.

Auto and Life Discount

Allstate recently announced their new Auto/Life discount in the state of Washington for their preferred auto line. By having your life insurance with Allstate and/or Lincoln Benefit Life, you can receive a 2.5% discount on the next renewal of your auto insurance. Hey, it all adds up!

Good Student Discount

Do you have kids in high school or college? If so, it pays for them to have good grades. If your student is under the age of 25, a full-time student, unmarried with a grade average of B or better or in the top 20% if their class, you qualify for a discount on your auto insurance. The amount of the discount depends on what policy and coverage you have so check with your local agent.

These are just a few of the discounts available on your auto insurance. Next time you speak with your agent, make sure you are getting all the possible discounts you qualify for. If you would like a free car insurance quote along with a review of your discounts, please contact me at 360-452-9200

Want more information? Please visit my official Allstate Agency Website to get more information on the Allstate products and services I can offer in Port Angeles, Sequim or anywhere Washington State.

Auto Insurance Discounts For Baby Boomers

Are you on a fixed budget? Many Baby Boomers are and at the same time, getting squeezed by the economy. One thing you can do is review your car insurance to make sure you are getting all the discounts you are eligible for. There are several that exist, but here are three big discounts to ask your agent about.

55 and Retired Discount

This is a great discount if you are no longer working and over the age of 55. Allstate offers 10% for this discount in their preferred auto line. Not all coverages are discounted, but the major ones are like liability, property damage, comprehensive and collision. No drivers under the age of 25 allowed on the policy to receive the discount.

Defensive Driver Discount

Drivers who are 55 years of age and older who successfully complete an accident prevention course approved by the Washington Department of Licensing can receive a 5% discount on their auto insurance. The discount is good for 2 years after which you must successfully retake the course to continue to receive the discount. Here is a link to sign up for a course near you in Washington State. http://www.dmv.org/wa-washington/defensive-driving.php

Full-Pay Discount

Not everyone has the cash flow to pay their premiums in full, but if you can budget the money in order to save the necessary premium it can be worth it. The Full-Pay Discount is 10% on select coverage on Allstate’s Washington preferred auto line. If you can do this now, take advantage. If not, start saving for the next renewal period!

These are just a few of the discounts available on your auto insurance. Next time you speak with your agent, make sure you are getting all the possible discounts you qualify for. If you would like a free car insurance quote along with a review of your discounts, please contact me at 360-452-9200

Want more information? Please visit my official Allstate Agency Website to get more information on the Allstate products and services I can offer in Port Angeles, Sequim or anywhere Washington State.

8 Things To Do If You Are In A Car Accident

Summer is more than half over and the dreaded 1st day of school is coming for kids. Mom and Dad may be rejoicing, but with school comes the taxi service from Mom and Dad.

Imagine that you are taking your kids to school and you get in an accident along the way. Many thoughts may be running through your head like:

• Are my kids ok?
• Did I pay the insurance bill this month?
• Do I have collision coverage on my policy?

Keeping these 8 things in mind will help make a bad situation go a little better.

1. Remain calm

By remaining calm, not only will you think more clearly, but you will calm your kids.

2. Check to see if you are OK

Your safety and health is most important. If you or your passengers are injured, call 911 immediately. The same goes for the people in the other car.

3. Move to the side

If it is feasible, move your car to the side of the road for your safety. If you don’t want to end up with two accidents

4. Get information

Exchange names, cell phone numbers, emails and addresses of everyone involved.

5. Insurance

Get the other drivers’ license plate number and insurance information. Make sure you write down the insuring company, policy number, address and phone number.

6. Take Photos

If you have a camera, take photos to document the accident. If you don't have a camera on your cellphone, think about keeping a cheap disposable camera in your glove box.

7. Call the police

Call the police to report an accident.

8. Call your Agent!

Call your insurance agent! They are there to help and assist you with your claim.

These are just a few tips to make an unfortunate experience run as smoothly as possible. Is there anything you would add?

Knowledge is power - Sign up for Matt's monthly insurance newsletter and he will share with you how to better protect your family, save more money and achieve financial security.

Or for more information, please visit my official Allstate Agency Website to get more information on the Allstate products and services I can offer in Port Angeles, Sequim or anywhere Washington State.