Category Archives: Auto

Car Rental Insurance

Do I need rental car insurance?

The answer is easy, yes you do. But who provides the insurance is where things get a little tricky. If you’re being held accountable for a rental car, then insurance is a necessity. But there are a variety of sources of rental car insurance and each source may provide varying amounts of insurance at varying costs. Let’s break it down, shall we?

Rental car add-on insurance.
Every rental car company provides insurance for an extra fee. In fact, this is a way they make extra profit. Consider this; they wouldn’t offer insurance if they lost money on it. But it is an option. If you’ve ever rented a car, you’ll know the process. They make you either select various types of insurance or even initial the contract that you have declined insurance. This insurance could add between $5 and $50 per day to your rental charges. If you don’t have insurance through another provider, this may be your only option.

Personal car insurance.
If you have insurance on your own vehicle, it may protect your rental car as well. You need to call and ask your provider if it does and for how much. They may recommend that you buy additional insurance from the rental car company to supplement your current insurance, or you may have plenty of coverage. If you do, you can deny the optional insurance and won’t have to pay any extra.

Credit card insurance.
Some credit card companies offer minimal (or secondary) insurance to their cardholders. Call your credit card provider and find out if you are covered and for how much. Again, you may need to supplement insurance with the rental car company.

In the end, it’s important to protect your personal assets. In this case, you want to protect your finances from the rental car damage sustained during your use of the car.

To learn more about rental car coverage, contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.

Evaluate Your Insurance Policy

How often should I evaluate my insurance policies?

A regular review of insurance is a good idea, however different insurance may require different intervals of review. For example, it’s a good idea to review auto and homeowner’s insurance on an annual basis. Or, and this is important, if you make a change in what you drive or where you live. Buy a new car? Time to review. Buy a new house? Time to review.

When reviewing your car insurance, consider your current circumstances. Do you drive the same amount that you did when you first got insurance. Are your driving habits the same? If you’re not driving much you may be eligible for special discounts from your car insurance company. The amount of the discount (and the number of miles that you need to stay under) will vary from company to company and from policy to policy.

Homeowner’s insurance is more apt to change due to growing families and added possessions. Kids, pets, pools, room additions can change your insurance needs. Did you buy a new TV? Add a second computer? Inherit a piece of art? Each of these things are worth evaluating against your current policy. The good news is that insurance can be changed (increased or decreased) at any time. You’ll either pay more or even get a refund based on your policy changes. So while it’s good to review annually, you can always make adjustments as they occur.

Life insurance is also worth evaluating on an annual basis. Look at changes in your health, your life or within your family. Do you have another child to protect? Did you lose your job? Life circumstances will affect the coverage you need and it’s worth discussing.

To learn more, contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.

Lower Your Insurance Costs

10 easy ways to lower your auto and home insurance costs.

First, let’s tackle car insurance. Here are some tried and true ways to lower the cost of owning an automobile.

  1. Drive less. The more you drive the more your chances for an accident. So, insurance costs are less for those who drive less. If you can combine trips for errands, or carpool to work, you can save on insurance.
  2. Set higher deductibles. The more you are willing to pay in the event of an accident, the less you will pay month to month. Typically, deductibles range from $0 to $1,500. If you can swing a higher deductible, you can save big.
  3. Take a defensive driving course. Typically, teenage drivers and seniors take these courses, but any driver may benefit from taking one and it may save you some $.
  4. Use that garage. It may be handy for storing all that stuff you haven’t used in years, but it’s most effective for keeping your car safe. Garages can reduce your cost of insurance.
  5. Be a safe driver. Most all insurance companies reward safe drivers with clean driving records. That includes speeding too, so watch your speed and save!

Now for homeowner’s insurance.

  1. Make your home safer. Here are some things you can do now to help reduce your insurance premiums:
    • Secure your doors and windows with dead bolts and strong locks.
    • Install a security system with an outside signal and connection to local polices.
    • Install and maintain smoke detectors.
    • Install a fire alarm that automatically alerts the local fire department.
    Safety is always a good thing, but consult your independent Provident Insurance agent to be sure safety upgrades will lower your costs.
  2. Don’t smoke. Generally, non-smokers qualify for lower homeowners insurance premiums than smokers. If you’re a non-smoker, then be sure to ask for any available discounts.
  3. Bundle Policies. Merge all your policies with one provider. You may have found better rates on each individual policy by shopping them around, but it’s often more affordable to bundle them all with one company.
  4. Increase the deductible on your policy. In many cases, a higher deductible means a lower premium. It also means paying more out of pocket in the event of a covered loss though. Talk to your Provident Insurance agent so you can determine the best balance for you.
  5. Insure the replacement value only. You may have paid $250,000 for your home, but it may not cost that much to rebuild it. The land your home sits on has some value, so subtract that from the equation. Likewise, the market value may be more than the cost to rebuild – this is common in popular coastal areas or even high-demand neighborhoods with good schools. So only pay what it costs to replace…not what you paid or what it’s current market value.

To learn more, contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.

Auto Coverage

Do I really need auto insurance?

The short answer is YES. If you own or lease a car you are legally REQUIRED to have auto insurance. Nearly every state requires car owners to carry auto insurance, and most states have required minimum values for different policies, including Indiana. If you don’t carry insurance, the state can impound your vehicle or even assess fines. In fact you have to show proof of insurance to get license plates, so to repeat the answer to the question. Yes, you need auto insurance.

How much insurance do you need?

A good rule of thumb: Make sure you’re covered for an amount equal to the total value of your assets (Add up the dollar values of your house, your car, savings and investments). For more details on this subject, check out our blog on this very topic.

Shopping for auto insurance.

Every insurance company claims to have the cheapest rates. But they all can’t be the cheapest. Right? To get the most bang for your buck, consider an Independent Insurance Agency. These agencies offer all kinds of insurance from many different companies. If you have any issues affecting your ability to get coverage (such as a patchy driving record or a teenage driver in your house) independent agents can usually find you better coverage at better prices than what you’d find on your own.

Drive legally, drive safely and drive insured!

To learn more, contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.