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Select Insurance, LLC on Facebook

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Select Insurance, LLC is now on Facebook.  Check us out and become a fan.

Posted On 3/24/2010 3:42:20 PM



Travelers

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NEWS RELEASE

Contact: Bryan O. DeVore (864) 964-0622

 

Select Insurance, LLC Now Offers Insurance from Travelers

Anderson, SC April 8, 2009 – Select Insurance has been appointed to sell personal lines insurance coverage from Travelers.

Bryan DeVore of Select Insurance said that the agency will now be able to offer customers Travelers coverage for their AUTOMOBILES, HOMES OR CONDOMINIUMS.

"Select Insurance is pleased that customers can now select insurance coverage from Travelers," said DeVore. "Travelers is one of the largest and most respected insurance companies in the nation. They offer a range of products at competitive prices. In addition, Travelers shares our commitment to providing the highest level of responsiveness and service to customers."

Established in 2005, Select Insurance is an independent insurance agency offering a full range of insurance products including AUTO, HOME, LIFE, ETC.  

For information and quotes on insurance coverage, please visit www.selectins.net or

Select Insurance, LLC at 1026 South Main Street, Anderson, SC  29624 or 111 North Main Street, Honea Path, SC  29654 or call (864) 964-0622.

About Travelers

Travelers understands that life and business are inherently dynamic and that the best way to serve agents and policyholders is to deliver insurance that evolves to stay in-synch with life and business as they change. For more information on being in-synch, visit www.travelers.com.

The Travelers Companies, Inc. (NYSE: TRV) is a leading property casualty insurer selling primarily through independent agents and brokers. The company’s diverse business lines offer its global customers a wide range of coverage in both the personal and commercial settings, including automobile, homeowners, construction, small business, oil and gas, ocean marine, surety and management liability, global technology and public sector services. Travelers is a Fortune 100 company, with 2007 revenues of $26 billion and total assets of $115 billion. The company has approximately 33,000 employees.

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Posted On 4/8/2009 10:25:43 AM



11 WAYS TO SAVE MONEY ON YOUR CAR INSURANCE...

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The circle of safety: How Do You Get the Most for Your Money?  11 Ways to Save Money on Your Car Insurance...

 

By Bryan O. DeVore   

Select Insurance, LLC 

 

11 Ways to Save Money…

S

o you’re shopping around for auto insurance. What do you need to know? Well, there are lots of ways – at least 11 – that you can save money. Many of these money-saving ideas may apply to you.



1.      One Insurer, Multiple Policies – Do you have a homeowners or renters insurance policy? If so, is it with the same insurance company that provides your auto insurance? If the answer is no, you’re paying too much – for both policies. Almost every insurance company that sells auto insurance wants its policyholders to also buy homeowners or renters insurance from that company.

These insurers offer so-called multi-policy discounts. Usually, these discounts are at least 10% and some insurers apply the discounts to both the auto and the homeowners/renters policy.

* Tip.  Talk to your agent about multi-policy discounts.



2.      Good Driver, Good Price? – It’s no secret that the better your driving record, the less you will pay for auto insurance. But did you know that most people qualify as “good drivers” and are eligible for discounted premiums? Some good drivers pay a lot more than others, however.

Many auto insurers are actually a collection of several insurance companies in which each caters to a certain type of driver. The worst drivers go in one company, the best in another, and a lot of people wind up in one of the middle companies.

These middle people pay less than the worst drivers, but more than the best. The thing is, many of these middle people have driving records that are just as good as those who are insured by the companies that offer the lowest rates. Yet these middle people are paying more. Why?

The usual reason is that they don’t know any better. No one told them which insurance company in the group had the best prices. And, probably, no one told them there was even a group of insurance companies. If you have a spotless driving record, there’s no reason you shouldn’t be paying the lowest price a group of insurance companies has to offer.

* Tip.  Make sure you’re getting the best discount for your driving record.  Talk to your agent.  And remember, be a safe driver.  It will save you money.



3.      The Beauty of the Bus (or Other Mass Transit) – Do you drive to and from work? If you do, you are literally paying a premium to do so. Insurance companies charge you significantly higher premiums if you drive to work. And, the longer your commute (in miles, not minutes), the higher the premium.

* Tip.   Some drivers should consider mass transit. Yes, there’s a price there, too. But you will reap the savings of gas and lower insurance costs.



4.      Low Mileage, Low Price – On average, people drive 1,000 to 1,250 miles a month. That is what insurance companies consider average use.

* Tip.   If you drive less than the average, you could be eligible for low-mileage discounts, which some insurers offer.



5.      High-Profile, High-Cost – The type of car you drive is a major factor in what you pay for insurance. Is your vehicle a magnet for thieves? Is it more expensive to repair than most cars? If the answer to either of the last two questions is yes, you’re paying more than the average car owner for insurance.

* Note.  To get detailed information on your vehicle(s) – or a vehicle you’re thinking of buying – write to the Insurance Institute for Highway Safety at 1005 North Glebe Rd., Arlington, VA 22201 and ask for the “Highway Loss Data Chart.”



6.      Raise Your Deductible – The deductible is the amount you pay before insurance kicks in if you have a claim. For example, if you have a $250 deductible and you have an accident in which your car sustains $1,000 in damage, you pay the first $250 and your insurer pays the balance, $750. The lower the deductible you choose, the more you pay. If you have assets, you can probably afford to absorb at least $250 and probably $500 if you have a claim.

* Tip.  If it’s been years since you’ve had an accident, you may be better off raising your deductible and paying less each year for insurance.



7.      Drop Unnecessary Coverages – Let’s say you have an older car, one not worth very much. There’s really little point in having collision and comprehensive coverages. You don’t have much to protect. Remember, too, that you have to subtract your deductible from any potential payout you might get.

* Tip.  As a general rule, any car worth less than $1,000 shouldn’t have collision and comprehensive coverage. Between the deductible and the extra expense of these coverages, the cost is probably greater than the benefit. How much is your car worth? An auto dealer can tell you, or there are plenty of books that have values of vehicles going back many, many years.



8.      Discounts, Discounts, Discounts – Auto insurance companies offer several discounts for a variety of reasons. The car has automatic seat beats, air bags, anti-lock brakes, anti-theft devices, etc. The driver is a good student, which is especially valuable if you have teenage children who will be on your policy.

* Tip.  Make sure you are taking advantage of all the discounts available to you!




9.      Taking the Defensive – Many insurance companies also offer discounts to those who have taken defensive driving courses recently.



10.  Low-Cost and High-Cost Areas – Are you planning to move? If you are, you should take into account the cost of insurance. Generally, the more urban the area, the higher the premium. The costs can vary even within a community.

* Fact.  Rates can really vary from state to state. If you’re living in New Jersey, Massachusetts or Hawaii, you’re paying several times more, on average, than you would in North Dakota, South Dakota or Idaho.



11.  Credit Where Is (Or Is Not) Due – Is your credit record better than your driving record? If you have a good credit record, you could be eligible for discounted premiums from several auto insurance companies.

* Fact. Many insurers now use your credit history as a major factor in determining what to charge you for auto insurance. In some cases, with some companies, you could save money by shifting your business to an insurer that uses credit as a rating factor – even if you have a so-so or poor driving record. There is another side to this coin. If you have a poor credit history, you could save money by moving your auto insurance to a company that does not use credit as a rating factor. Many insurers do not use credit as a factor.

* Tip.  Regardless of your credit status, you should talk to your agent to make sure you have the best situation given your credit record, good or bad.

Whatever your driving record or coverage needs, you should shop around, or let an experienced insurance professional shop around, for the best deal for you. There are literally thousands and thousands of coverage options from hundreds and hundreds of insurance companies.

In addition, not only should you try to get the best deal you can, you also need to make sure you have all the coverage you want/need. Using an Independent Insurance Agent is usually your best bet to get the most value for your auto insurance dollar.

 

 

At Select Insurance, LLC, we take a personal interest in our customers. We like to share information that helps you protect yourself and your family from financial loss. If you have any questions, regarding this information or your insurance coverage, please don’t hesitate to give me a call (864) 964-0622 or e-mail me personally at Bryan@selectins.net.



Posted On 4/2/2009 6:27:53 PM



When Filing an Auto Claim...

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Insurance Insider Reveals the Secrets

Everyone Filing a Claim Must Know

 

What You Need to Do Before and After Filing an Auto Insurance Claim to Make Sure Your Claim Is Paid in Full and Promptly

  

Take a deep breath -- and be thankful you’re reading this now and not after you’ve already had an auto insurance claim. Think ahead for a moment. You’ve just had an accident. You’re not badly hurt, but you’re not in great shape, either, particularly mentally. Your car -- boy, you love this car -- has some significant damage, perhaps so much that you won’t be able to drive it home.

 

There’s a lot to remember to do, and very little time to do it. What information do you need to have from the other driver(s)? Are there any witnesses? Does someone need to call the police? Where do you take the car to have it repaired? What do you do about alternative transportation? Who do you call to make a claim? Your agent? The insurance company? The other person’s insurance company?

 

You are basically overwhelmed.

 

That’s understandable, but there are steps you can take long before you have an accident so that you are prepared and making a claim is not that difficult at all. How?

 

You read this report.

 

I want to share this information with you because I know peace of mind is so important. I am willing -- actually, I’m excited -- to reveal to you the secrets about making insurance claims. Secrets that ensure your claim is paid in full and as quickly as possible.

 

Why would I just give these secrets away? Because it’s just as good for my business as it is for you. I want to let you in on the knowledge I have accumulated as an insurance industry professional and insider. I want to do this because I have found, time and time again, that generosity and the willingness to provide really great service come back to me. Tenfold. In fact, that’s how I have built my business.

 

My clients have filed hundreds, even thousands of auto insurance claims. As a result, I know what to do, and what not to do, to get a claim resolved to the satisfaction of my clients. There are a few steps you should take right now, before you have to file a claim. With the right preparation, the accident will be a less traumatic experience because you’ll know exactly what to do right after it occurs.

 

What’s Covered -- And What Isn’t

Have you read your auto insurance policy lately? Ever? Probably not. Few people do, in all honesty. But whether you read the policy or not, you should know what your policy covers -- and what it doesn’t. No policy can cover every possible situation, but most good policies cover just about every one. Sometimes, when they buy their policy, people decide not to have certain coverage. Maybe it’s because some coverages are too expensive or not worth having because their car is fairly old.

 

You should know the situations in which you don’t have coverage. Call your agent, or whomever sold you the policy, and ask him or her to explain what the policy covers, but, most important, what it doesn’t.

 

But there’s more to know than what the policy covers. Insurance companies have certain steps you need to follow in the event you have an accident. In the policy, these steps are called “Conditions.” You should know what these conditions are.

 

You should also try, ideally before you have an accident, to determine what you will do with your car if it needs repairing. Do you know of an auto body shop that does excellent work? If you do, great! But if you don’t, ask your agent or even your insurance company to recommend a body shop near where you live. Most insurance companies have what they consider to be “preferred” auto body shops -- shops that have good reputations and that insurers trust. Find out from your agent or insurance company if there are any of these body shops near you.

 

Ask your agent what to do and who to call when you need to report a claim.

 

Now, your car. Do you have anything in the car to write with and on if you have an accident? There’s plenty of information you will need to have right at the scene. This is not information you want to have written on a candy wrapper or a golf scorecard. And what if you don’t always carry a pen or pencil with you? You need to have a pad of paper and a pen or pencil stored in the car, just in case you’re in an accident. In fact, keep at least two writing instruments in the car in case one of your pens runs out of ink. Keep the pad and pen(s) in the glove compartment or the console next to the driver’s seat. In addition, if your insurance company has a form that allows you to provide details of an accident, including a sketch of the scene, keep some of those forms in the car as well.

 

Now, you are prepared if you should have an accident.

 

What to Do After an Accident

You’ve just had an accident. At the scene, you need to do the following:

 

1.           Stop the car and get help for any injured drivers or passengers. Give whatever help you can to the injured (covering them with blankets, making them comfortable), but don’t move them. You could aggravate the injury(ies). Have someone call the police or highway patrol. Tell the police how many are injured and the possible extent of the injuries (whether they appear serious or not). The police can then notify the nearest medical units if they are needed.

 

2.           Protect the accident scene. Try to prevent further damage to the vehicles involved be setting up flares or getting your car off the road.

 

3.           Give the police officers whatever information they require, including your version of what happened. Do not, under any circumstances, admit you were at fault, either to the police or the other driver(s). Just give the facts as you see them. Ask the investigating officer how you can get a copy of the police report. You might need the report when you submit your claim to the insurance company. Stay at the accident scene until the police have left. (If it’s a minor accident, the police may not make a report. In fact, they may not even come to the scene if there are no injuries or serious damage to any of the vehicles involved).

 

4.           Write down the names and addresses of all drivers and passengers involved in the accident, as well as the license number, make, model and year of each car. Make a note of the driver’s license number(s) and insurance information of the other driver(s). Write down the names and addresses of as many witnesses as possible, as well as the names and badge numbers of police officers and any emergency personnel.

 

5.           Write down all the details of the accident that you can remember, either on the accident form from your insurance company or in your notebook.

 

6.           If necessary, have your car towed to a repair shop. (It’s a good idea to have a repair shop in mind before you have an accident; this way, you already know where you want the car towed).

 

7.           Call your insurance agent or the local claim representative for your insurance company to report the claim. Do this as soon as possible, including, if possible, from the accident scene. (You should probably make a note in your notebook, prior to the accident, of the phone number(s) to call to report a claim). Actually, it’s a good idea to call your insurance agent in addition to the claim representative. If your agent is involved, it could help speed the claim process. You should also tell your agent if you are not satisfied with how your claim is being handled.

 

8.           Ask your agent or insurance company representative how to proceed and what forms or documents you will need to support your claim. Your insurer may require you to fill out a “proof of loss” form, as well as supply documents pertaining to your claim such as medical and auto repair bills, and a copy of the police report.

 

9.           Keep records of any expenses you have as a result of the accident, including any related to a temporary inability to work or perform basic household functions. Your policy may allow you to be reimbursed for such things as medical and hospital expenses, lost wages and some of the costs if you have to hire a temporary housekeeper.

 

10.       Keep copies of any paperwork related to the accident.

 

11.       Find out, before the auto body shop starts repairing your car, what kind of parts will be used. Will they be from the original equipment manufacturer (OEM parts) or so-called aftermarket parts that are generic (and some believe they are inferior to OEM parts)? If you want only OEM parts used, you need to tell both the repair shop and your insurance company.

 

12.       If you are not satisfied with how your insurer is handling/has handled your claim, make your feelings known to the company and to your agent, and see how they respond. Do not, at this point, use the word “lawyer.” Once you raise the prospect of seeking legal help, that will change the way your insurance company deals with you. When you say “lawyer,” you are basically threatening to sue your insurer. Don’t make this threat until you are absolutely convinced that your insurance company will not resolve the claim to your satisfaction. If you hire a lawyer, no one at the insurance company will be able to communicate with you directly; they must go through your attorney.

 

Remember, while no accident is a pleasant experience, proper preparation and following certain steps can assure that the claim process is resolved to your satisfaction. If your claim has the important documentation and all the key details, there’s no reason it won’t be paid in full and promptly.

 

But if you have any trouble, please contact your insurance agent. We are here to help you and make sure your insurance policy takes care of you as it should.



Posted On 1/12/2009 8:37:17 PM



Most Dangerous Concept in Insurance, Co-Insurance

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One of the most dangerous concepts in insurance is "co-insurance". I say dangerous because if you don't understand it, you can get burned by your own uninformed decisions.

Long ago, when insurance came to be, an interesting "battle" took place...

Insurance companies determined that by taking a little bit of money (premium) from lots of people, they could afford to pay for huge losses of only a few of those people. Based on expected losses they decided how much premium to charge. And an assumption they made was that everybody would insure their property fully.

Bad assumption! Policyholders quickly realized that most losses are small - rarely a total loss. So, instead of insuring their $100,000 building for $100,000, they insured it for less - risking that they wouldn't suffer a total loss. This wrecked the insurance companies' ability to pay losses and be profitable, too.

So, the insurance companies invented "co-insurance" - which basically means if you don't insure the full value of your property, you're going to share in the partial losses.

For example (simplified for illustrative purposes), if you have a building worth $100,000 and insure it for $80,000, you've insured 80% of value. If there's a total loss, you only get $80,000 because that's the coverage limit you chose. That's NOT co-insurance. That's coverage limits.

However, that's still a pretty compelling reason to insure to full value.

Now most policies require you to insure at least 80% of value to avoid a "co-insurance penalty" at the time of loss. (But, remember, your policy will never pay more than the limits of coverage. So, if you insure 80% of value and have a total loss, you're only going to get 80% of the loss from the insurance company - your policy limits.)

Wait! There's one last landmine here...

To determine if a co-insurance penalty will apply, the value of your property will be determined at the time of loss - NOT what it was worth when you bought it, NOT what it was worth when you bought your policy, and NOT what you say its worth.

The insurance company will determine the value of your property at the time the loss occurred. Why is this important?

Let's say you paid $100,000 for your building 5 years ago, and insured it for $100,000 thinking you were fully insured, no chance for a co-insurance penalty. And let's say the building is worth $150,000 today.  Let's also assume for illustrative purposes, that the replacement cost of this building is now $200,000 due to inflation, but you never increased your insurance.

Now there's a $10,000 partial loss, the insurance company values the replacement cost of your building at $200,000 and says, "A co-insurance penalty applies, because you insured a value of $100,000 (100% of the old replacement value) instead of $160,000 (which is 80% of the building's current replacement value of $200,000.

Co-insurance comes into play on partial losses. In this example, if you have a partial loss, of say $10,000, the insurance company will only pay $6,250 or 62.5% of the loss less your deductible, rather than $10,000 less the deductible.  The adjuster begins his calculations by determining the replacement cost at the time of loss, $200,000 in this case.  Since you had an 80% co-insurance clause you had to insure a minimum of $160,000.  Since you only insured $100,000, the adjuster now takes $100,000 (amount of insurance) divided by $160,000 (amount of insurance required) and then multiplies it by $10,000 (the amount of the loss).  Then, he apples the deductible.  That's co-insurance.

What a nasty surprise!

There are a number of tools to help prevent this. "Inflation Guard" protection and annual reviews are two good ones. The most important thing is for you to have a basic understanding of your exposure.

Ultimately, your insurance decisions are yours. Be an educated consumer and make sure you get what you want. Give me a call if you want to discuss any of your coverage limits or get more information.



Posted On 12/30/2008 9:52:35 PM