Ask Your Port Angeles Allstate Insurance Agent: What is Liability Insurance?

Have you ever looked at your insurance policy and wondered just exactly what it is you are paying for?
 
Everyone knows that they are legally required to carry liability insurance.  But many people don’t really understand what that means or how it works.

In simple terms, liability insurance pays to fix damage that you cause to someone else. 

On your auto insurance policy, this is split into three pieces.  Here is an example:

Bodily Injury:  50/100
Personal Property: 50

Let’s say that this was your coverage amount and you hit another car in an accident.  Your insurance would pay up to $50,000 per person for injuries up to a total cap of $100,000.  And it would pay up to $50,000 in property damage to fix the other car.  

Remember, liability only covers the person that you hit.  It doesn't cover your vehicle or anyone inside your car. 

There are many different amounts of liability coverage.  We work directly with our clients to determine how much you need.  This will vary based on factors like how many assets you have, your income, and home value. 

Not having enough liability insurance is one of the biggest financial mistakes you can make! Carrying only the Washington State minimum of 25/50/10, could leave you open to a lawsuit.  Think about those cars you’ve seen on the road worth easily over $40,000!  If you don’t have enough property damage coverage, then you are at risk. 

There is also liability coverage on your homeowners or renters insurance.  It pays if someone is injured on your property due to your negligence.  One common example is a dog bite.  This is another time when it’s good to have enough liability insurance!

Hopefully this clears up any questions you have about how liability insurance works.  If you need help determining the right amount of coverage for your family, give us a call at 360-452-9200 for a no obligation review and quote. 

What Is Full Coverage Car Insurance?

A lot people use the term full coverage when describing the amount of car insurance they desire. I have found that full coverage can mean different things to different people. Let’s review what full coverage car insurance looks like.Quick caveat: Every situation is different and as an insured, you assume some financial risk with the use of deductibles and different policy limits, but with that said, here are the main coverage’s to consider for full coverage:

Car Insurance Claim

Liability

This is what the State of Washington requires you to have. If you cause an accident and people are hurt, you could be held legally responsible for medical costs for everyone involved. The state minimums are 25,000 per person/$50,000 per occurrence with $10,000 property damage.

Uninsured/Underinsured Motorist

Washington State requires that drivers have insurance, but not everyone obeys the law. If a driver with minimum or no insurance runs into you, you could be left paying the bill. Uninsured motorist fills in that gap.

Medical Payments/PIP

This coverage can help pay for some of your medical costs or funeral expenses if you or anyone in your vehicle is injured in an accident. This coverage also applies if you are a pedestrian struck by a car.

Collision

Collision coverage pays for damage to your car if you collide with another car or something else such as a tree or building. Typically, a deductible paid by the insured applies. The lower your deductible is, the more expensive your premium, and vice versa.

Comprehensive

Comprehensive coverage generally pays for damage to your car cause by something other than a collision, such as theft, storm damage or a rock chip to a windshield. Hitting an animal like a deer is also covered by Comprehensive.

Rental Car

Rental car coverage is triggered by a collision accident. We often are asked if rental car kicks in when someone’s car breaks down, but unfortunately it is not.

Towing

Towing is an important but often over-looked coverage. It is very inexpensive to add to your policy, and it covers not only towing, but refueling, jump-stars, tire changes and lockouts. So to summarize, it is important to review your car insurance policy at least annually to make sure you have all the coverage’s you thought you had. The last thing you want is to hit a deer and find out that it is not covered because you declined comprehensive.

To learn more about full coverage car insurance or to get a quote please call Matt Elwood at 360-452-9200 or visit his Allstate Agency Website at www.allstate.com/mattelwood

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Your Choice Auto – Affordable Car Insurance by Allstate

Your Choice Auto Car Insurance

Looking for a great car insurance policy that can be tailored to fit your needs in Port Angeles, Sequim or anywhere in Washington State? Give the Elwood Benefits Allstate Agency a call. We offer Allstate’s Your Choice Auto with great features such as Safe Driving Bonus, Accident Forgiveness and Deductible Rewards.

Safe Driving Bonus

How would you like to get a check back from Allstate for being a safe driver? With our Platinum Protection Package, this gives you the opportunity to earn up to a 5% credit that can be applied to your next renewal premium. This is in addition to any other discounts you may already qualify for.

Accident Forgiveness

Accidents happen, but with Accident Forgiveness by Allstate, your car insurance rates won’t go up just because of it. Some policies make you earn this feature over time, but with Your Choice Auto, this feature is available on day one. In our Gold program, this feature can be applied to one accident every three years. In our Platinum program, multiple accidents are forgiven.

Deductible Rewards

The longer you are with an insurance company, the better your rates should be. With Allstate’s Deductible Rewards, you receive an immediate $100 off your collision deductible. Each year you go without a collision accident, another $100 will be subtracted with a maximum $500 reward off your collision deductible. It pays to be with Allstate.

Allstate Value Plan

Are you on a budget, but still want quality car insurance at an affordable rate? The Allstate Value Plan is just that with strait forward coverage and the convenience of Allstate’s Easy Pay Plan. Bundle the Allstate Value Plan with your homeowners insurance and save even more.

Ready to get a quote or learn more? Contact us at 360-452-9200 or visit www.allstate.com/mattelwood for more information.

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Drivewise By Allstate Insurance

Are you a safe driver? Would you like to save more money on your car insurance? Sign up for Allstate Drivewise and get 10% off your premium just for enrolling, save up to 30% at renewal and view your driving performance online.

Drivewise

How Does Drivewise Work?

1. Sign up. Get an immediate 10% off your premium just for enrolling. 2. Plug in. Allstate will send you a small device that easily plus into your car’s OBD-II port under your dashboard. 3. Drive Safely. 4. Save. Drivewise collects your car’s driving data. You can track your data and savings online.

Safety Pays

The Drivewise device collects data on four driving behaviors to determine your performance discount at renewal of up to 30%.

1. Low Mileage – Drivers who average around 35-40 miles per day or les are more likely to save. 2. Safe Speed – Performance is improved by avoiding high speeds. 3. Safe Hours – Avoid driving on weekdays between 11 p.m. to 4 a.m. and weekends 11 p.m. to 5 a.m. 4. Safe Stops – Save even more by maintaining a safe distance from the car in front of you and avoiding hard stops.

More Details

Existing customers can enroll at renewal. You have to have an active email address and be in Allstate’s AFCIC auto policy, which is our most current policy as of this writing. Not all cars are eligible. If your vehicle is a hybrid, electric, diesel, or if you use the On-Star monthly performance review, you would not be able to install this device. Your performance rating and discount, if any, will apply per vehicle, rather than by driver. Even if your driving performance doesn’t help you earn a discount, the data we collect will not increase your premium.

Want to learn more? Watch our Drivewise installation video.

If you have questions or would like to enroll, please contact us at 360-452-9200.

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. 

 

Financial Procrastination

Financial Procrastination

It is human nature to procrastinate. I even procrastinated writing this month’s newsletter! It is so much easier to put off for tomorrow that which needs to be done today. After all, does it really make a difference if I clean my room now or tomorrow? Probably not, but when it comes to financial procrastination putting things off until tomorrow can have a dramatic impact. The problem is that tomorrow never comes. Days turn in to weeks, weeks into months and months into years. Financial speaking, you may miss out on years of compounding interest, pay higher insurance premiums or miss out on years of savings as a result of procrastinating. Whatever your situation may be, here is a list of common items I see clients delaying action on:

Bundling Your Insurance

By bundling your auto, home and life insurance with Allstate, you save more on each policy. Depending on your situation, you could be save 30-40% with multiple policy discounts.

Rolling Over An Old 401K

Have you changed employers in the past 5 years or longer? If so, you may have a 401K sitting at an old employer that is not actively being managed for your benefit. You have the option to roll that 401K into an Individual Retirement Account (IRA), often with lower fees and more investment options.

Buying Life Insurance

A lot of people consider life insurance a luxury. I consider it a necessity, especially if you have people that depend on you financially. Allstate just came out with a new term life insurance policy that requires no exam, ages 18-45. With the convenience of doing the application over the phone and signing via email, now is a great time to get that policy your family needs.

Exploring LTC Insurance

There are over 10,000 people turning age 65 everyday is this country. The cost of health care is constantly increasing. If you have ever had an experience with a loved one that needed Long Term Care, you know that it can cost on average $6,000/mo. For a fraction of that cost you can get an LTC policy that will provide care if needed and protect your retirement nest egg at the same time.

There Is No Time Like The Present

These are just a few of the many financial topics that people tend to put off. Did any of them resonate with you? Did you think of something not mentioned here? If there is something on your financial to-do list that you would like me to help you check off, please reply to this email or give me a call at the agency 360-452-9200.

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 Pay Your Allstate Insurance Bill In Port Angeles

Matt Elwood Allstate Insurance

Paying bills is a chore than no one likes doing, but at Allstate we have several different options that can make life a little easier for you.

Local Agency

This is probably obvious, but are you aware that we take several different types of payments including cash, check and credit card? We even accept American Express. The great thing about paying your bill in the agency is that the payment gets applied immediately and we give you a receipt if you want one. In addition, you can make your payment at any Allstate agency if a different location is more convenient. Our normal business hours are Monday through Friday, 8am to 5pm. However, if you stop by during non-business hours, we have a payment slot that you can drop your payment in and it will be applied to your account the next business day. We will also call you to let you know we received your payment.

Telephone

We can accept payments over the phone several different ways. Most people like to use their debit or credit cards, which are a great way to pay your bill because you get an immediate confirmation number. We can also take payment with an Electronic Check or E-check. All we need is your routing and checking account numbers to process the payment. Our agency phone number is (360) 452-9200 or toll free (866) 452-9200

Computer

I know nights and weekends can be the best times to get things done. You can visit Allstate.com/mattelwood 24/7 and sign up for My Account via the customer log-in. Just follow the three simple steps to set up your account. You can access your account immediately upon completing registration. Not only can you pay your bill there, but also view your policy information, sign up for paperless billing, file or check the status of claim and much more.

Easy Pay

This isn’t for everyone, but some people like to put things on auto-pilot. We can set up your account on easy pay so the payment comes out of your checking account automatically every month or on recurring credit card. You will still get notification via email from Allstate as a helpful reminder before the draft occurs each month. I use this option myself and I really like it.

Please keep all these options in mind next time you are paying bills and most importantly, thank you for being an Allstate customer!

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.