Uninsured Motorist Coverage: Do you have it? Do you need it?

Imagine this:  you’re sitting at a stoplight, it turns green, and you press down on the accelerator.  As you roll out into the intersection, another driver runs the red light and crashes head-first into the side of your car.  What is probably one of the first thoughts that pop into your head?  I hope they have insurance.

But what happens if they don’t? 

If you don’t have uninsured motorist coverage, your collision coverage will cover the damage to your vehicle, but it will not cover any injuries to yourself or to passengers in your car.  This could leave you paying out of pocket for thousands in medical bills.

Uninsured motorist coverage is a smart option, because it is very inexpensive, and it typically has a low deductible of around $250.  Collision coverage, on the other hand, has a deductible of anywhere from $500 - $1000.  That means if you are hit by a driver who doesn’t have insurance, you’ll have to pay up to $500 or $1000, depending on your deductible, before your insurance company will cover the rest of the repairs to your vehicle.  If you have uninsured motorist coverage, however, you’ll only have to pay the uninsured motorist deductible of around $250.  Another benefit of having uninsured motorist coverage is that a claim filed under this type of coverage will not cancel your claim free discount with your company.

Uninsured motorist coverage is important to have to ensure that you’re covered in the event that you are hit by a driver without insurance, or if the limits on their insurance are too low to cover the cost of the accident.  It is inexpensive, and will not add much to your monthly premium. 

If you’re not sure whether or not you have uninsured motorist coverage on your auto policy, call us to ensure that you’ve got the coverage you need!

Listing Your Contents

Do you know how much all of your possessions are worth?  Can you list from memory everything in your house?  If you are the victim of theft, or of a house fire, these are questions you may be asked.  If you’re thinking, “how could I possibly remember everything I own?”  I may have a suggestion for you.

To prove exactly what you own and what you are owed in the event of a property loss on your homeowners policy, it’s a good idea to film the contents of your house with a video camera.  Open up all of your closet and cabinet doors before you begin, then slowly walk through your house, taking care to get a good shot of everything you own.  Once you’re done, store the film in a safe place, such as a safety deposit box at the bank, or a fire proof safe.  Then, voila! You have proof of ownership for all of your possessions.

Another good idea is to take pictures of any big ticket items, such as expensive jewelry or big screen televisions, and put them in a safe place along with the receipt.  By taking these steps, you will be ensuring that you will be properly reimbursed if you ever have to file a claim with your insurance company.

Liability Insurance: How much do I need?

The state minimums for liability coverage for your auto are $30,000 per person and $60,000 per occurrence for bodily injury coverage, and $25,000 for property damage.  That means that if you cause a wreck, each person in the other vehicle(s) involved could get up to $30,000 to cover their injuries, but only up to a total of $60,000.  If more than two people are seriously injured, $60,000 may not be enough to cover their medical expenses.  Another thing to consider is that the actual damage to their car would be covered up to $25,000, but if their car is worth more than that, you could be left paying out of pocket for the repairs. 

Because the state requirements for liability coverage are so low, and may leave you exposed financially in the event of a wreck, at Barry Insurance we recommend coverage of at least $50,000 per person and $100,000 per occurrence for bodily injury coverage, and $50,000 of coverage for property damage.  These higher limits on your policy will ensure that you are completely covered in the event of a wreck. 

What stops people from looking into this higher coverage?  Many people have the misconception that with higher coverage comes much higher rates, but this is typically not the case.  An increase in coverage to $50/$100/$50 is usually not much more expensive than limits of $30/$60/$25.  In fact, sometimes the higher coverage amounts are actually cheaper! 

If you have any questions about your liability coverage, come see us or give us a call at (903) 831-3493.  Don’t wait until it’s too late to make sure you’re fully protected!

Do you need renter’s insurance?

I’m lucky.  My mother has worked at Barry Insurance for as long as I can remember, so I’ve always had the right insurance to meet my needs, right when I needed it.  Before I even knew I needed insurance, the policy was there waiting for me to sign it.  Had my mother not been in the insurance business, I’m sure there would have been times when I would have never known what insurance I needed, or how to get it. 

In particular, I remember moving into my first apartment.  Before moving day even arrived, my mother sat me down to talk about renter’s insurance.  I gave her a confused look and asked, “They have that?”  As I soon found out, they do!  And even better, it’s affordable.  For only $10.58 a month, I was able to get $300,000 dollars of liability coverage – in case I burned the place down, which would be an easy feat for an accident prone individual like me.  And I got $25,000 dollars of personal property coverage on my stuff – in case I left my keys in the door again and someone stole it all.   

I was lucky to have my mom, and Barry Insurance, there to look out for me.  Remember, we’re here to look out for you, too!

Brandi Smith

Go Red for Women!

Did you know that, according to the American Heart Association (AHA), heart disease is the number one killer of women, taking the life of one in three women each year?  Heart problems are often associated with men, and as a result, women’s heart disease is often overlooked or misdiagnosed.  The symptoms of women’s heart disease can even differ from men’s.  According to the AHA, “as with men, women's most common heart attack symptom is chest pain or discomfort.  But women are somewhat more likely than men to experience some of the other common symptoms, particularly shortness of breath, nausea/vomiting and back or jaw pain.”

 February 4^th is “Go Red for Women” day in Support of the AHA’s fight against women’s heart disease.  Individuals across the country raise awareness of this issue by wearing red on February 4^th.  You can find information on the initiative at: http://www.goredforwomen.org/

If you’re wondering what you can do to make sure you have a healthy heart, a balanced diet, exercise, and quitting smoking are a great place to start.  Giving up smoking also has the possible bonus of lowering your health insurance rates!  GoRedforWomen.com even has a free twelve week program online to improve your overall health.  Check it out at http://www.goredforwomen.org/betteru/index.aspx.

Join us in the fight against women’s heart disease by wearing red this Friday, February 4^th.  Here’s to a healthy heart!