If you own a classic car, you have the option of insuring the vehicle using a traditional auto insurance policy or a classic car insurance policy. Most people opt for the latter because it meets the unique needs of these vehicles. According to the Insurance Information Institute, every year, the national expenditure for car insurance increases by approximately 1%. With this statistic in mind, here are some key factors to keep in mind from an insurance provider.

Qualification

Not everyone meets the requirements to insure their vehicle under a classic car insurance policy. It’s important to note that different companies have different criteria for these types of automobiles. As a general rule of thumb, most require the vehicle to be anywhere from 15 to 25 years old and that only limited mileage has been used. Some may also require that the car not be your main source of transportation. There may even be requirements about where and how the vehicle can be stored.

True Value

If you meet the described requirements above and want to go further, the next thing you have to consider is the true value of your car. If you were to obtain a traditional auto insurance policy, you would only be entitled to the actual cash value of the car. This is generally very low for older cars. However, classic auto insurance allows you to get the true value of your car based on the modifications, restoration work, and upgrades that you have completed. You and the insurer will agree on the true value of your car when you obtain a policy.

Your Driving Record

Lastly, you need to think about your driving record. Classic car insurance is considered a premium insurance product, and as such, most insurers will only insure these types of vehicles for drivers with good driving records. If you have multiple accidents, speeding tickets, or a DUI, you may have trouble getting your classic vehicle insured.

You are legally required to insure a classic car, even if you rarely drive it. As such, many classic car owners prefer classic car insurance because the rates are lower due to the decreased usage of the automobile. If you’re in the market for a new policy, our team at AOAWest can help. Call us today to obtain a quote.

Do you actually know what your home insurance policy covers and doesn’t cover? If you can answer “yes” to that question, you’re in a pretty good spot. Value Penguin found that 47% of homeowners claim they are unsure what their insurance covers. It’s also quite likely that other people have misconceptions about what is and isn’t covered. Given how important insurance is, it’s a wise idea to regularly review, and if necessary, update your insurance policies. It’s also wise to work with professional insurance agents to better understand specific policies.

Some Things Aren’t Covered Under Standard Home Insurance Policies

Home insurance can provide protection from many events. However, not everything is covered under the standard insurance plan. For example, most standard insurance plans won’t cover damage caused by flooding. These events are considered “acts of God” and because the damage is so widespread, insurance companies can’t afford to cover all of the damage. It’s possible, however, to take out flood insurance plans, many of which are backed by government authorities.

Floods aren’t the only thing that typically isn’t covered under a standard insurance plan. Many plans also won’t pay for damage caused by earthquakes or other earth movements (like sinkholes). Acts of war and nuclear accidents might not be covered as well.

By regularly reviewing your insurance policies, you can find gaps in coverage. If you find a gap, you should assess the risks and then consider updating your insurance policy to increase coverage. You might also opt to take out separate insurance plans to cover the gaps. Besides evaluating your home insurance, it’s also smart to analyze other policies, like auto and health insurance.

Keep Deductibles and Co-Pays in Mind

Many insurance plans feature a deductible and coverage may not kick in until you pay a certain amount out of pocket. If you’re tight on money and don’t have an emergency fund to cover any deductibles, you might want to select an insurance policy with a lower deductible. On the other hand, if you’ve built up considerable savings, selecting an insurance plan with a higher deductible could save you money on premiums.

Do you need help understanding your insurance plan? Want to close gaps and increase coverage? Contact AOAWest today and we can provide assistance with home insurance. We can also help with other types of insurance policies.

Riding a motorcycle requires more than a bike and some riding gear. You also need good insurance protection. According to the National Highway Traffic Safety Administration, at least 10 million vehicular accidents are unreported every year. Many of those accidents involve motorcyclists. Here are four benefits of working with a motorcycle insurance service to protect your bike and body.

1. Greater Knowledge of Your Needs

A motorcycle insurance service continually deals with many different motorcyclists every year. Those riders sometimes have unique circumstances and sometimes suffer unique incidents in which insurance coverage is needed. You might experience a problem while riding that is new to you, but the insurance service likely has experienced it or something very similar before. When you hire an experienced team, you will feel peace of mind you’ll be taken care of.

2. Familiarity With Accident Claims

A motorcycle insurance service should have lots of experience processing a variety of insurance claims. Many of those claims will include injuries – many of which are catastrophic. The best insurance providers will process legitimate claims quickly and pay fair settlement amounts to accident victims and motorcycle owners. Some bikes might suffer from damage or theft, which the right kind of insurance could also cover.

3. Ability to Protect Riders’ Finances

A motorcycle insurance service should help riders obtain the types of insurance that matter the most to the people who own and ride them. One of the most important types of insurance coverage to carry is uninsured/underinsured motorist coverage due to motorcycle riders and passengers suffering more serious injuries in accidents than those in cars or other vehicles. Protecting riders and their passengers against the costs of injuries and other harm caused by negligent drivers helps to protect their finances.

4. Roadside Assistance Rescues Stranded Riders

Riding a motorcycle over long distances might suddenly come to a halt due to a flat tire, running out of gas, or maybe losing a key while shopping or dining. Whatever the reason might be, a motorcycle insurance service should offer roadside assistance coverage that enables a rider to call for help if the bike suddenly is unrideable. If you choose it, then the coverage might rescue you from being stranded with an immobile motorcycle.

You can learn more about the benefits of a motorcycle insurance service by calling or visiting our office and speaking with one of our experienced motorcycle insurance producers. We want to ensure you have the proper coverage when you’re on the road. We’d be happy to answer any questions you may have as well.

A home often is the most valuable asset that people own, and homeowners insurance is the best protection they can have for it. About 5% of all homeowners filed homeowners insurance claims in 2019, according to Policygenius, but not all of those claims were paid. The following are commonly excluded perils that require additional coverage to fully protect your family home.

External Flooding

Most homeowners insurance policies will protect your home against burst water pipes, ruptured water heaters, and other common sources of internal flooding. When the water comes from outside, though, you need external flood insurance coverage. Only dedicated flood insurance policies will protect against losses that are caused by external flooding.

Wind and Hail Damage

Tornadoes, straight-line winds, and hail can be very damaging to homes and often are excluded from standard homeowners insurance policies. You likely need to purchase additional coverage for wind and hail damage to fully protect your family home against those perils. Without it, you might find some or all of your house blown down with no way to repair the damage.

Earthquakes and Land Movement

Homes in locations like southern California or that are near volcanoes need earthquake insurance coverage to protect against damage caused by earthquakes. Otherwise, a home could become a total loss. Land movement, including mudslides and landslides, likewise requires additional coverage to avoid total losses.

Replacement vs. Market Value

Many homeowners anticipate their homes increasing in value, but that does not always happen. The same goes for their personal belongings. You can ensure full repairs or replacement by obtaining replacement coverage for your home or your items inside and avoid a potential shock if the market value is lower than you anticipated and your insurance payout is less than you need for repairs or replacement.

Falling Objects

Do you have a lot of trees on your property or one or more trees situated near your home or another structure? If the wind blows it over or maybe a heavy branch falls and causes a lot of structural damage, then you would need insurance that protects against damage caused by falling objects. Even something as rare as a meteorite might strike your home, which insurance against falling objects should cover.

You can call us to learn about the best homeowners insurance protection for your family home and to get quotes from several of the nation’s leading home insurers.

Antique car collectors may not realize that an insurance agency can provide specific policies to protect their vehicles. That’s because they likely think that only modern, driven cars need protection. After all, according to Bankrate, around 215 million people have car insurance in America. However, antique car collectors can also utilize specialized coverage policies to keep their items safe and minimize loss risk. Here are some reasons to get insurance today.

Protects Your Investment

For many buyers, an antique car is an investment. Many buy multiple old cars that will increase in value as they age, particularly if they’re kept in great condition. Thankfully, antique car insurance can protect this investment by providing repairs and total loss coverage. So, if someone steals your antique car unexpectedly, you can get compensated for its value and avoid losing out on all your investment.

Provides Low Deductibles

Typically, an insurance agency provides low deductibles on antique vehicle policies. That’s because this coverage focuses heavily on protecting vehicles that rarely, if ever, run. As a result, the deductible is much lower. Furthermore, many antique car repairs will cost more money than those for standard vehicles. This lower deductible ensures that collectors don’t pay too much for their policy.

Minimizes Damage Risks

While antique cars may not get driven often, sitting for extended periods may also cause damage. For instance, the oil may congeal when antique collectors aren’t careful and could wreck the engine. Antique car insurance policies help protect against this kind of common damage. They may help to replace these affected parts with components that match an owner and their vehicle’s damage repair needs.

Helps During Car Shows

Antique car owners may take their vehicles to car shows to make a little extra cash or just show off. Unfortunately, transporting vehicles to and from these destinations may put them at a higher risk of damage. Thankfully, antique car insurance policies typically have show protection that keeps a vehicle safe during transportation and while at the show, including theft risks.

These important benefits make antique car insurance a great option for any collector. If you’re looking to protect your vehicle and want to work with an insurance agency that you can trust, reach out to us today at AOA West to learn more. Our team of experts will help you better understand these policy types and the unique ways that they can benefit you and your specific car type.

Insuring your vehicles isn’t just about following the law, it’s about protecting yourself. According to Statista, there were about 5 million car crashes involving property damage in 2018, with 1.8 million injuries and more than 34 thousand fatalities. If you’re looking to protect yourself with motorcycle insurance, then here’s what you should know about choosing the right policy.

Type of Coverage

The first thing you need to decide when you’re choosing a motorcycle insurance policy is what type of insurance you actually need. There are different types of motorcycle insurance, but the biggest difference is between liability and full coverage. If you want to ride your motorcycle legally in most states, then you’ll need to have liability insurance at the very least. Unlike liability insurance, full coverage will provide coverage for damage to your vehicle as well as your medical bills, in addition to the other party’s vehicle damage and medical bills. However, it’s important to keep in mind that full coverage comes with a higher monthly premium.

Amount of Coverage

Different states have different minimums when it comes to how much motorcycle insurance you’re supposed to carry, and they have different laws in terms of minimum coverage. You might not have enough coverage to protect yourself if you’re in a very expensive accident. When you’re getting coverage for your motorcycle, take some time to talk to your agent to make sure you’re getting enough coverage in case of an accident. You don’t want to be left paying out of pocket after any damages occur.

Additional Coverage

In addition to standard coverage when you’re in an accident, there are other types of motorcycle insurance. Talk to your insurance agent about the different types of coverage that can help you protect yourself and your motorcycle. Even if additional coverage makes your monthly premium higher, it can help you save a lot of money.

Choosing the right insurance policy helps you protect your belongings in the best way possible. You need to make sure your motorcycle insurance provides the right type and amount of coverage, and that starts with talking to an agent about policy specifics. If you need motorcycle insurance, contact our team to get a quote today.

When it comes to inventory systems for their personal belongings, 49% of homeowners are reported to have one, according to Policygenius. Inventory systems are also important for folks with rental insurance. Let’s take a closer look at a few of the reasons why this type of insurance is so important.

Landlord Insurance Won’t Cover Your Belongings

Many people fall into the trap of thinking that their stuff will be covered by their landlord’s insurance policy. This is not the case! Your landlord’s insurance will cover the building structure, the roof, and any common areas inside and outside, which means that if there’s an accident, you’ll need to have your own insurance policy to help you replace the belongings lost in a covered event. Make sure that you have the protection you need for your personal belongings.

If Your Belongings Are Damaged or Destroyed, Rental Insurance Will Help You Replace It

Covered events, the catastrophes covered by your renter’s insurance, can cause loss and damage to personal belongings. Without the right insurance coverage, it can be your financial responsibility to replace any lost items. No one wants to have to come out of pocket for expenses that could be covered by the right renter’s policy. Personal articles can also be covered with supplemental riders if the items exceed the maximum single-item allowance. There is a wide range of policies available that can provide the protection you need.

With Many Policies, Your Belongings Are Covered, No Matter Where They Are

Many renter’s policies provide coverage of your belongings no matter where they are, which means that if your laptop is stolen on vacation, it’s covered. The same is true if you ride your bike over to a friend’s house and it’s stolen. Robust coverage like these examples allows anyone who suffers from a loss or theft to replace the items through an insurance claim. If you want to have comprehensive coverage of your personal belongings, no matter where you are, then it’s time to look into renter’s insurance. Find out more today about how having the right insurance in place can help you recover from a loss without having to face financial liability and responsibility.

Is it time for you to get renter’s insurance? We’re here to help with all of your insurance needs. Call or stop by our office today to learn more about the insurance services that we provide!