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.

Why Purchase Life Insurance Now Instead of Waiting?

You are finally at that point in life when life insurance is starting to be a consideration. You have a young family and a new mortgage.

Given your situation, it is reasonable to think that now is the time to buy. However, it is too easy to convince yourself to put it off.

Here are 5 reasons why you should not delay buying life insurance:

1. Life Insurance Gets More Expensive with Age

Life insurance gets more expensive with each passing year. Why not lock in a great rate now?

2. Your Health in the Future is Unknown

Health tends to decline with age and you may even become uninsurable later in life.

3. People Tend Not to Quit Smoking

Tobacco use can more than double life insurance premiums, but a lot of people make the mistake of not buying now so they can quit and get the non-smoker rates. The problem with that is people tend not to quit and you must remain nicotine free for several years.

4. Permanent Life Insurance Cash Value Compounds

Permanent life insurance policies purchased early in life can grow large cash values which can supplement your retirement income or additional savings

5. It Could Happen

The odds are against it, but what would happen if you actually did die prematurely? What would happen to your family and the house they live in? Term insurance is so inexpensive that it makes sense just to get it done.

If you would like to discuss your life insurance options please get in touch with 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.

Does My Life Insurance Policy Still Fit My Needs?

Couple reviewing their life insurance policy

I have been selling life insurance for 10 years and over that time I have worked with hundreds of families. Everyone’s situation is unique, but the common thread is that life is all about change. Change is the one constant that keeps our lives interesting. Friends come and go, families grow and sometimes shrink. We move to different cities or even return back home. We get married and divorced. Our kids grow up and start families of their own.

With this constant change in our lives, it is important to review your life insurance once a year to make sure your policy still fits your needs. Here are a few areas of consideration.

Do I Still Have The Right Amount Of Insurance?

When you initially purchased your life insurance policy, you probably went through exercise with your agent to determine what the right amount of insurance for you and your family at that time. Some factors may have been the age of your children, planning for a possible college fund and also the amount owed on your mortgage or other debt.

So when was the last time your reviewed this amount? Was it 5 years, 10 years ago or even longer? Have your kids now grown up leaving you with less of a need for life insurance? Have you paid off that mortgage and no longer need so much death benefit? It may be that times are now tougher and you have had to take out a 2nd mortgage and need more insurance? Without doing a review with an experienced agent, your policy may not match your current needs

Do My Beneficiaries Need Updating?

This is a huge area of life insurance planning that often gets neglected. First of all, you should never leave life insurance proceeds to a minor child. The primary beneficiary should be your spouse or a responsible adult that will take care of your children and the money on their behalf should something happen to you. You should also meet with a local estate planning attorney to draw up a will and living trust agreement to ensure that things get handled properly and your financial affairs are in order.

Another area where I see beneficiary errors is after a divorce. It may be that you still want your ex as your beneficiary, but I can tell you that not everyone does. Maybe you are remarried and want to update your policy to your new spouse? There are countless scenarios, but you get the point. Just keep in mind, only the owner of a policy can make these changes.

Life Insurance policy

Do I Still Have The Right Type Of Policy?

When you first bought your policy, it may have been that all you could afford was term insurance. Nothing is wrong with that, but most term policies have a provision that within a stated amount of time, you can convert your policy to a permanent type like Universal Life. The great thing is that you can do this usually with no exam if you are within the given time frame stated in the policy.

On the other hand, maybe you bought Universal Life from the beginning, but now you are having a hard time affording it. I have seen a lot of cases where people are stretched too thin and having to borrow against their policy too soon. There is danger in doing this because it will shorten the life of your policy and ultimately you may be just paying for really expensive term insurance. If this sounds like you, you probably do need term insurance without the costs of Universal Life.

September Is Life Insurance Awareness Month - LIAM

September is the perfect time to review your life insurance policy given the national campaign of LIAM. If you would like to set a time to review your policy with me 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.

How Much Life Insurance Do You Need?

Welcome readers of the Peninsula Daily News! Life Insurance can be a complicated subject. You may be wondering how much life insurance I need? That is a great question with a lot of variables that are unique to you and your family. I have found that there is no ‘right’ amount of life insurance to own. Rather, it is what you want to have happen financially if you were to die prematurely. Typically, these wants fall into 3 major categories.

Mortgage Life Insurance

Debt reduction is something you should consider when planning for life insurance. Think about would you want your spouse or family to be able to pay off your mortgage in the event of your death so they are not straddled with the payment? Life insurance provides income-tax free money to the beneficiary to pay for these types of scenarios. Other common debts include credit cards, student loans and Home Equity lines of Credit.

Income Replacement

If you are the sole breadwinner in your family with children, what happens to your children if you are no longer there? By providing enough life insurance to replace your income, you can be sure that they will be able to maintain their standard of living. Consider how much after-tax income you bring in each month minus the debt payments that will hopefully be gone. This will give you a starting point of how much you need to plan for. Other factors to consider are the age of your children and how long you want to provide for after you are gone.

College Savings Plan

Do you want your children to attend college without the burden of graduating with student loans? Depending upon how old your kids are and the school they wish to attend, you may need to budget $250,000 or more per child considering the inflation rate on attending college. There is a great website www.savingforcollege.com that will give you a lot of great information on how much college will cost you in the future.

These are just a few areas to consider when getting a life insurance quote. If you would like help going through your personal situation and determining the correct amount for your family, 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.

Why Washington State Car Insurance Minimums Are Not Enough

Cheap car insurance can leave you broke

These days, money is tight more than ever. That mounting pile of bills that stare at you each month doesn’t get any smaller. Sometimes it’s all you can do to stay current on your credit cards. The last thing you want to do is pay a lot for car insurance. However, by going with just the state minimums, you may be saving a little now, but could be paying a lot later.

Liability Insurance

Liability coverage protects you if you are in accident and it is your fault. This money goes to pay the other party’s injuries, property damage and even personal damages. In the state of Washington, the minimum limits of liability are 25/50/10. This means you have $25,000 of liability per person, $50,000 per occurrence and $10,000 in property damage.

Let’s say you get in an accident and either seriously hurt or kill someone. They could turn around and sue you. If they died, the family could seek millions in a lawsuit for damages. That $50,000 of liability coverage is not going to cut it. They can come after your personal assets and even garnish your future wages. This is why it is critical to have proper limits of liability.

Uninsured Motorist Insurance

Let’s turn that scenario around and let’s say you are the one seriously hurt in an accident caused by someone else, yet that other person is uninsured. Now what? Well, if you didn’t purchase uninsured motorist coverage you would be in financial trouble. There would be no money to fix your car, pay your medical bills and go after the other party.

Uninsured motorist, also underinsured motorist insurance, covers you if the other party does not have insurance and you suffer personal and property damages. This coverage is not required by the state, but you can see why it is important.

Comprehensive and Collision Car Insurance

Comp and Collision are optional coverages that protect your car. Comprehensive covers damages due to things like theft, vandalism, fire and glass. Typically, comprehensive claims are not your fault, but still cost you money. On the other hand, collision provides coverage when it is your fault like hitting another car or backing into a pole. You can save money on comp and collision by having higher deductibles so ask your agent.

Get a Full Quote

So the next time you are shopping for car insurance, think twice before going with just liability. You may be satisfying your legal requirement, but you are exposing yourself to financial hardship should the unexpected happen.

If you would like me to review your current policy and explain what you have or give you a competitive quote, 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.

New Car Insurance?

That new car at the dealership has been screaming your name to buy it since last year. And why shouldn’t you? You have been driving that same Honda Accord since 1998 that has been paid off since 2003. You deserve it for working so hard all these years and you even got the OK from your spouse. Now it is time to pull the trigger.

Does My Current Insurance Policy Cover This New Car?

You may be thinking on your way to the dealership, “will I be able to drive this off the lot today?”

The great news is that any car that you become owner of during the policy period of your current insurance will be covered right away. You just have to notify your insurance company of the new vehicle, usually within 60 days. If you don’t have insurance at all, that is another story. The dealership won’t let you drive a car off the lot without current insurance so if you need a policy now, we are here to help.

What Information Does My Insurance Company Need?

Where to find your VIN

Once you get your new car and there is some basic information that your insurance company will eventually need including the current mileage of the new vehicle, year of the car, make and model and also the VIN.

A VIN stands for Vehicle Identification Number. It is a series of numbers and letters that identify each car. It is usually found on the dash near the windshield or on the side panel of an open door. If you are having trouble locating it, we would be glad to help you.

Your insurance company will also need to know if you paid cash or financed the vehicle. If it was financed, your liennholder (the financing company) will need to be listed as an interested party on the insurance until it is paid off. Their name, address and telephone number will be enough.

What About Gap Insurance Coverage?

You know that old saying, once you drive your car off the lot the value goes way down? Well, that is true, but your loan value still stays the same! Gap coverage pays off your loan if your car is totaled and you owe more than its worth. It is relatively inexpensive and I highly recommend it.

So – enjoy that new car this weekend and don’t worry, the insurance company can wait until Monday. However, if you do want to give us a heads up of your purchase, please 360-452-9200

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.