Archive for August, 2009

When your teenager is ready to drive, it can be both an exciting and stressful time for them and for you.  The question that always arises is “When should I buy insurance for my child?”  Typically, as soon as they get their license, you should add them to your policy.

In most states, the child is covered under the automobile of the parent or guardian and the coverage extends to the vehicle(s) you have registered with us.  In any event, you should also remember to notify us as soon as your teen receives their learner’s permit.

You’ve probably heard from friends and relatives that your rates will increase, which is true.  However, there are steps you can take to keep the rates as low as possible.  The amount your rates will be affected depends on the type of policy that you have as well as several other factors.

Top Tips to Keep Rates Low with a Teen Driver

Whether your child has their own car or will be using the family vehicle, it is best to add your child to your policy.  It costs far less to do this than it would to have them purchase one on their own.  If they do get their own car, adding their car to your policy could qualify them for a multi-car discount on your policy.

Your child should take a certified driver’s education course.  Most states require that they do this in order to get a license.  Either way, it is valuable education to be behind the wheel with a qualified instructor.

How are your child’s grades in school?  Most insurance companies offer a good student discount for student’s that earn at least a “B” average.

Is your child going away to school and leaving their vehicle at home?  If the distance from school is at least 100 miles from home, discounts will normally apply.

Set a good example for your child by being a good role model.  Always fasten your seat belt, be a defensive driver and avoid distractions while driving.

Most states have manuals for parents to assist them in teaching their teens to drive.  Following the programs they outline can help you understand the best ways to start teaching your teen to drive and reduce the stress of teaching them how to drive.

Any additional insurance questions about your teen driver?  Please give the insurance pros at the Cincinnati E.P. Zimmer Insurance Agency a call and we will be happy to answer any of your questions!

There’s been a lot of buzz lately about an “Umbrella Insurance Policy” and whether or not you need to add this type of protection to your insurance program. In this post, we’ll talk about what an umbrella insurance policy is and the benefits of adding this type of coverage.

An umbrella policy is a liability policy that provides coverage over and above the coverage of your regular policy. We like to say it’s the added layer of protection that protects your assets over and above the limits of your standard liability limits.

As an example, you have an auto insurance policy with a liability limit of $300,000. When you add an umbrella policy with a $1,000,000 limit, you now have liability protection of $1,300,000. Why do you need this additional protection? Consider this – The average personal liability lawsuit judgment in the state of Ohio in personal liability lawsuits is $850,000. A standard liability coverage of $300,000 would leave you with on the average, a $550,000 shortfall.

If the judgment in the lawsuit is against you and your insurance is not sufficient, you are still responsible for the the  difference. The court can require you sell all of your assets, including your home, business, 401K, college savings – essentially everything until the amount is settled. Bankruptcy offers no protection from this type of suit.

The numbers above are only the judgment/settlement amounts and do not include your attorney fees, which can easily be tens or hundreds of thousands of dollars.

In our opinion, an umbrella policy is one of the most important products on the market to protect your assets and future. It is very inexpensive for the coverage you get. The question is normally not “Do I need umbrella insurance?” The real question becomes, “What type of umbrella insurance policy is right for me?”

Call the insurance professionals at the Cincinnati Zimmer Insurance Agency for a review of your risk and exposure as well as a quote for umbrella insurance.

Most people don’t realize that they have a lot of control over their homeowners insurance costs. Many also mistakenly believe that controlling costs means a reduction in coverage and protection. A lot of TV ads lead you to believe the best way to keep the costs down is to switch insurance companies. What they fail to divulge is the type and quality of the coverage that resulted in the lower premiums.

In our experience, the savings are the result of two major factors. One is that the previous insurance company wrote a general policy for the customer without doing a comprehensive review of the clients needs. The other is that the insurance company applied several automatic annual price increases that the client never questioned and were not necessarily justified.

Here is a list of the most common ways for you to keep your insurance costs in control:

1. Maintain a high credit-based insurance score and you may qualify for additional discounts.
2. Choose higher deductibles. With a low deductible, you are essentially funding all the small insurance losses others may claim. Reduced premiums are normally more cost-effective, particularly over a longer period of time.
3. Qualify for multi-policy discounts by having your policies with the same insurance company. The savings by combining policies can be significant.
4. Be safety conscious and install safety devices in your  home. Many of these devices can actually result in an additional discount. If you do install any, be sure to call your agent at the Cincinnati Zimmer Insurance Agency so we can determine how the device may affect your premium.
5. Keep your losses down. Consumers who have the lowest rates are often among those with the fewest claims.
6. Work with an independent insurance agency like Zimmer Insurance. We are not locked into one insurance company and our interest is in serving YOU – Not the insurance company. We will select the best policy based on your needs and make the best recommendations to protect your assets.

Sometimes, you may find a lower price but rarely will you find a better value than you will with Zimmer Insurance. You get superior value, excellent service from experienced professional agents who take the time to fully understand you and your needs.