Common
Insurance FAQs

The amount of insurance that a person needs is a personal decision.  A key question to ask yourself is how much risk are you willing to shoulder?  For example, if an accident occurs, and you are sued for an amount higher than your liability limits, are you prepared to come up with the difference?  We generally recommend that clients self-insure on the smaller losses with a higher deductible, and purchase higher liability limits to protect everything you’ve worked hard to accumulate.

There are a lot of factors included in the calculation of an insurance rate.  Insurance score, past claims, age, zip code, and the overall condition and age of the asset you are insuring are all variables that can impact the rate.  Getting the best rate consists of making sure that your insurance rates are being shopped and compared with others that are in the same demographic.  An Independent agent can do that for you, ensuring that you are maximizing the available discounts.

A good agent will make it easy to switch insurance providers.  They will walk you through the process and transfer it at the most appropriate time (either at renewal or most appropriate time of the month to coincide with current billing cycle).  Switching insurance should be a painless process, and not a deterrent to updating your program to one that is more appropriate for your needs.

We buy an insurance policy with the hopes that we’ll never need to use it – but if you do need to file a claim, using the following tips can help make the process go more smoothly.

You have insurance for a reason – to ensure coverage if you are involved in an accident, or your car is stolen. Auto theft and car accidents are unexpected and unwelcome, but sometimes unavoidable. The actions you take immediately following the event can make a big difference when it comes to filing a claim. Stay calm and remember these steps to make filing an insurance claim easy.

What to Do If You’re in a Car Accident…

1. 1. Call the police, no matter how minor the incident may be.
   2. Get specific information about the accident and others involved:
      • • Names and addresses of all drivers involved in the accident
        • License plate numbers and driver’s license numbers
        • Make and model of each car involved
        • Insurance identifications
        • Names and badge numbers of police officers or other emergency personnel
   3. Write down the damage you observe on each car.
   4. Take photos of the accident scene if possible.
   5. When police arrive, try to remain calm and not assign blame or become defensive.
   6. Ask the investigating officer how you can get a copy of the police report. It may be helpful when submitting your insurance claim.
   7. Notify your insurance agent.
   8. Follow your insurance agent’s instructions.

Important: Do not admit responsibility and do not try to settle the claim on your own. Contact your insurance agent as soon as possible. In the case of a disputed claim, the insurance companies should battle it out, not you.

What to Do If Your Car Is Stolen…

1. 1. Call the police immediately
   2. Notify your insurance agent as soon as possible.
   3. Ask the investigating officer how you can get a copy of the police report. It may be helpful when submitting your insurance claim.

Once you have filed a claim, the insurance company will review your case and decide how to settle the claim. They may ask you for additional information. There are some things you can do to make sure the process goes smoothly.

Keep copies of all documents and bills related to the accident or theft – including receipts from towing companies, rental car bills and all that information you collected at the scene. Take notes of conversations you have with others regarding the accident, including what was said, the date and time of the call and how to get in touch with the person.

Ask your agent what the insurance company needs from you to process the claim, such as estimates for damages. Also find out if there are time limits on submitting bills and resolving disputes.

Count on Us

Accidents and car theft can be overwhelming – physically, mentally and emotionally. That’s why having a knowledgeable, trusted insurance agent makes a difference when you need it most. You can count on the team at MidCountry Insurance; we’re here to help you thoroughly assess the situation and determine your next steps.

Insurance coverage is a powerful tool when consumers face devastating losses. Being smart about how you buy and use insurance can help you get the most for your money. The following tips can help.

1. 1. Think twice before filing small claims. Submitting claims that exceed the deductible by only a few hundred dollars may increase your premiums down the road and ultimately cost more than the repair would have cost out of pocket.
   2. Buy the right amount of coverage. Be sure you coverage is adequate, but not excessive. Insurance policy limits should be revisited every year. You may need to update your homeowners coverage whenever you make major purchases or remodel your home. On the other hand, some of your personal belongings may decrease in value over time, requiring less coverage. It’s a good idea to update your home inventory annually and check for possible savings. With auto insurance, consider dropping collision or comprehensive coverage on older cars if their decreased value makes the coverage no longer cost-effective.
   3. Increase the deductible. Raising the deductible by a few hundred dollars can result in a significant decrease in your premium. Deductibles often start at $250. By raising the deductible to $1,000, you may save nearly 25% on homeowners premiums and 40% on collision and comprehensive coverage for your car.*
   4. Look for safety discounts. You may be able to lower your homeowners premium if your home has safety features such as dead-bolt locks, smoke detectors, an alarm system, storm shutters or fire retardant roofing material. You may qualify for discounts on auto insurance if your car has features that reduce the risk of injuries or theft, such as air bags, anti-lock brakes, daytime running lights and anti-theft devices.
   5. Buy your home and auto policies from the same insurer. Some companies offer a discount for multiple policies.
   6. Maintain a good credit rating. A poor credit score may raise the cost of insurance, while a high score may result in cost savings.
   7. Don’t smoke. Cigarettes are the leading cause of residential fire death across the country and property losses total millions of dollars each year.** Because of this, insurers often charge lower premiums to smoke-free households.
   8. Be loyal. Some companies reduce premiums for long-time policyholders.
   9. Ask about discounts. Many insurance companies offer discounts, but the types of discounts vary. An insurance agent can help you find the ones that apply in your situation – and even suggest steps you might take to qualify for further reductions.
   10. Turn to a trusted partner. The experienced insurance agents at MidCountry Insurance can help you get the insurance coverage you need without paying more than you have to. Rely on their expert knowledge to help guide you to insurance coverage that fits your family’s situation and provides peace of mind when the unexpected occurs.

* Source: Insurance Information Institute, www.iii.org.

**Source: Coalition for Fire-Safe Cigarettes, www.firesafecigarettes.org.

Insurance premiums can increase for several reasons, even if your personal circumstances haven’t changed. Common factors include:

1. Inflation and Rising Costs: The cost of repairs, medical care, and property replacement increases over time, which affects claims payouts.
2. Claims in Your Area: If there’s been a rise in claims locally—due to severe weather, theft, or accidents—insurance companies may adjust rates for everyone in the area.
3. Changes in Your Policy: Adding coverage, reducing deductibles, or adjusting limits can increase your premium.
4. Your Claims History: If you’ve filed claims, insurers may see you as a higher risk, even for minor incidents.
5. Market and Industry Trends: Shifts in insurance regulations, reinsurance costs, or other economic factors can lead to rate increases.

If you’re concerned about your premium, our team is here to review your policy and find ways to help you save.