Homeowners - there's so much we don't know

As consumers we expect that when we buy an insurance product, it covers all the things we can think of. When we buy house insurance, we expect to be covered for theft and for our houses to be replaced in a fire. What we don't expect is limitations and exclusions, and frankly even on the best policies there are many of them. I just read an article (link below) which talks of exactly this.. we expect and believe we have many protections that we don't and sometimes we think we need some things that we may not (a perfect example is that many people think they need to insure their homes for the market value, when we only need to insure for the cost to build the house). View this article about home insurance and call our team at The Keats Agency. Insurance is not a commodity. If you buy an insurance policy and don't get a agent with it for advise and council then your policy is not complete. Don't be hopefully protected. Be appropriately and cost effectively protected. An agent will make sure you are not over or under-insured!

http://www.insurancejournal.com/news/national/2010/08/24/112704.htm

OEM Coverage - What is it? Why buy it?

OEM stands for 'original equipment manufacturer'. Buying such a coverage on your auto policy would mean that in the case of damage to your vehicle, the parts replaced will be original factory equipment. Without OEM coverage, most insurance companies will pay for after-market parts. This is not to say that after-market parts are bad. Many are certified and equal in quality and workmanship. However, if you want to know that you will get BMW parts for your Beemer or Ford parts for your Mustang, then you want this coverage. It happens to be relatively inexpensive too.

One important fact is that most companies will only keep the coverage on your policy until your car is 10 years old. The reason for this is that finding OEM parts on vehicles over 10 years old is problematic and the companies do not believe it appropriate to continue the protection if coverage has essentially diminished.

Teen Drivers and Some New Laws in NY

The teens may not be happy about it, but some of the rules have changed for them and their licensing to drive in New York State. The laws are part of the Graduated Driver Licensing Program and are designed to increase the teen driving safety.

Effective 2/22/2010, the teen must have 50 hours of supervised driving with a parent or guardian before they can apply for a Junior License if under 17 years of age. (This does not apply to a 17 to 19 year old who has completed a certified Drivers Ed course.) The old law is 20 hours. In an interesting and valuable twist, 15 of those hours must be done past sunset.

Also effective on 2/22/2010, a teen can only have 1 non family passenger under age 21 if there is no adult present in the vehicle.

Practice, practice, practice. There is no substitution for experience behind the wheel.

Safe driving..

How to surrender license plates

If you have sold, gifted or destroyed a car registered in NY and choose to cancel the insurance on it, you must surrender your license plates. This can be done by bringing the plates to a local Department of Motor Vehicles or by mailing them in. How to surrender vehicle plates by mail:
You can send the vehicle plates to the DMV from any location. There is no fee to surrender your vehicle plates by mail to the address below. If you surrender the plates by mail to a county motor vehicle office instead of a state DMV office, you must enclose a $1 processing fee.
When you surrender vehicle plates by mail, the DMV considers the postmark date as the date that you surrendered your vehicle plates. Make sure that you include your current mailing address. The DMV will mail your FS-6T receipt to you. To be notified by the US Postal Service that your vehicle plates were received, send them by registered or certified mail, and request a return receipt. Remove frames and fasteners before you surrender a vehicle plate or vehicle plates. The DMV office will not accept a vehicle plate with a frame or any fasteners attached.
Send your vehicle plates and other information to:
Department of Motor Vehicles2799 Route 112Medford, NY 11763

Why getting older and paying more for car insurance?

Did you know that your car insurance can and will go up as you get older? Ok, not everyone, but unfortunately for our senior friends, it does. Statistics have shown that as we progress through our senior years, our insurance experience gets worse, thereby causing higher premiums. Be aware and shop your insurance. Different companies rate seniors at different levels. Ask your insurance professional for advice.

Got low profile tires?

Commiserating with a fellow 'low profile tire' owner today. This tells the whole story, one of my cars has had 3 replacement tires since we purchased it just 4 months ago. At between $400 and $500 a piece, we did well to have purchased the insurance coverage at about $450 for 3 years. I recommend the same any and all other fellow 'low profile tire' owner.