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Higher deductible lower premium or lower deductible higher premium?

July 22, 2014 by Chris Whitmire · Leave a Comment

We all have to pay our insurance bill every month – it’s certainly not the most pleasant bill to pay, but we can all agree it’s necessary.

What makes paying this particular bill more unpleasant than any other bill we pay is that our insurance bill consists of money we pay out that we do not see a direct and immediate benefit from.  Other goods and/or services we routinely pay for such as our groceries, electricity, mortgage or rent, we get a direct and immediate benefit from.

Deductible AnalysisWe all know that the best way to keep our insurance costs down is to have as few claims as possible for as long as possible.  Another simple way to lower your insurance bill is to raise your deductible.  As an insurance agent this is a conversation I inevitably have with all of my clients at some point in time.  So, the question is: higher deductible and lower premium, or lower deductible higher premium?

The purpose of insurance is to ensure that you will be restored financially given an accident or catastrophic event.  [Read more…]

Filed Under: Commercial Insurance, General, News, Personal Insurance · Tagged: Accident, Deductible, Insurance Premiums, Personal Lines

Small Difference in Premium, Large Difference in Value

May 28, 2014 by Chris Whitmire · Leave a Comment

We all know that obtaining insurance is a must.  Without the proper insurance in place we run the risk of losing everything from material possessions to our entire home or business, and when shopping for insurance we all want the lowest possible rate we can get.  But, more often than not, when a consumer is shopping for insurance coverage they become fixated primarily on the yearly or monthly premium amount… what am I going to have to pay now?  How much later?  This is a question that should be at the forefront of your mind, as we all have budgetary constraints, however, every policy comes with a specific charge for each line of coverage, and for any specific coverage extensions that might be needed.  With careful evaluation of each quotation, you can often reduce coverage in one area you may not need and boost coverage in another area of high exposure.
Evaluation Book
It is important to discuss with your insurance agent about the differences between the policies being offered.  Often times there is very little premium difference between two policies, but a great deal of differences in the value each policy is offering in terms of overall protection.  I’ll illustrate this with an example.   [Read more…]

Filed Under: News, Personal Insurance · Tagged: Family Protection, Homeowners Insurance, Insurance Claim, Insurance Policy, Insurance Premiums, Personal Lines, Shopping

Partnering with the right insurance broker

April 16, 2014 by Chris Whitmire · Leave a Comment

Let’s face it, shopping for insurance isn’t something we all want to do, but rather something we must do.  We all experience changes in our personal and professional lives, and many times those changes will come with more or less exposure to risk.

Independent agent, sovereign risk solutions, nemt insuranceThere is no shortage of “do-it-yourself” websites available when shopping for insurance.  However, wouldn’t you rather have a seasoned professional do the work for you for the same cost?  As insurance brokers and risk management advisors, it is our duty to evaluate your personal set of circumstances, uncover any flaws in your current policy, and most importantly, help you better protect yourself.   [Read more…]

Filed Under: Commercial Insurance, News, Personal Insurance, Transportation ·

Life Insurance is not the most “enjoyable” conversation to have, but a necessary one

February 27, 2014 by Chris Whitmire · Leave a Comment

Life Insurance Illustration

If you died suddenly or unexpectedly, would your loved ones be able to sustain the lifestyle they’ve become accustomed to?  Would they be able to pay bills such as your mortgage, vehicle payments, school tuition, or even funeral costs?  For many people the answer is no, unless they have properly protected themselves with life insurance.

Life insurance is a very affordable way to be certain the loved ones you leave behind have financial stability in the toughest of times.   [Read more…]

Filed Under: News, Personal Insurance · Tagged: Family Protection, Insurance Premiums, Life Insurance, Personal Lines, PROTECTION

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Amanda Cruz and everyone at Sovereign Risk always meets or exceeds my expectations and needs. They are very caring, c...

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Virginia Non-Emergency Medical Transport

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    ▼
    • Leadership
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    • FAQs
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    • Testimonial Submission
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