Archive for December, 2011
Well it has come time to say goodbye to 2011 and welcome in 2012. From all of us @ Monument Commercial Insurance Agency to You and Yours we wish you a safe and enjoyable New Year.
We thank you for the opportunity to be of service during 2011 and look forward to working with everyone in the new year to come.
Dean Markham, President / CEO
Monument Commercial Insurance Agency
Allstate anounced that is will cut agent commissions (read the entire article at Insurance Journal). The article states commissions will be cut starting 2013 for one year with no explanation for what to expect in 2014. Will they receive their commisisons back? Will they loose yet again, more commissions? If the economy doesn’t have drastic changes the chance of getting higher commissions again seems slim and an even better chance that there could be further reductions.
This is an even better time to be an independent agent. Monument Commercial Insuranc Agency is currently looking to expand in select states. If you would like more information regarding career opportunities with a fast paced, up and coming agency please visit: http://www.mcisinc.us/careers/index.html
• Liability: foraccidental injuries caused to other motorists as well as destruction of their property when you hit them.
• Uninsured Motorists (UM): for treatment of your injuries from beinghit by an uninsured motorist or perhaps in a hit-and-run accident.
• Underinsured Motorists (UIM): for treatment of your injuriesany time a driver causing an accident possesses lower bodily injury liability limits than your UIM limits. Insurers are required to inform you of the availability of this protection, although purchasing it is optional.
• Medical Payments:for treatment of bodily injury you or your passengers endure in an accident. It usually handles only medical costs not covered by health insurance, for instance copayments and deductibles. Companies have to present you with this particular coverage but you do not have to purchase it. Some states (research your state before purchasing) require that you must carry at least: $25,000 for the injury or death of 1 person, $50,000 for the injury or death of two or more people and $10,000 for property damage. A few state laws additionally requires uninsured motorist coverage of $25,000/$50,000 for bodily injury only. Drivers make choices about what forms of coverage they’ll obtain. Liability claims can easily surpass the minimum dollar amount required by the law. Higher limits are available. Inquire with your agent for additional information in regards to the expense of greater limits. Some other coverages to think about:
• Collision: covers damage to your automobile caused in an accident, including if the accident was your fault.
• Comprehensive: covers damage from alternative causes including theft, vandalism, fire, falling
objects or animals. Drivers of older, less valuable automobiles decide to lower premium costs by just
carrying liability coverage. There are various elements that go into determining how much auto insurance costs including the following:
• Your driving history. Insurance companies may possibly charge an extra fee, a surcharge, should you be
involved with a chargeable accident or were ticketed for any serious traffic violation.
• Your sex. Young, single male motorists typically pay more than any other group.
• Your age. Young motorists are usually considered to be a bigger insurance risk compared to older, more
• Where you live. Insuring an automobile in bigger cities, where increased traffic as well as crime exist is more
• Age and type of automobile. Newer, sportier automobiles are more expensive to insure. The less it costs to repair or
replace your vehicle, the lower the cost of your premium.
There are waysthat you can lower your automobile insurance premium:
1.Ask your agent with regards to discount rates. Several insurance companies provide discounts for good performance in school, often for maintaining a grade of B or better. Taking an approved driver safety class may also
result in a price reduction.
2. Increase your deductibles. You can considerably lower your premium by choosing a greater
deductible, which is the amount of money you pay out of pocket prior to insurance kicks in on a
3. Don’t drive drunk. This almost goes without saying, but a conviction for drunk driving can wreak
havoc on your insurance costs.
Mopeds and Scooters.Because of restricted parking space and the inconvenience of driving a car to
class, mopeds and scooters have grown to be more prevalent on college campuses. Any insurer that
offers motorcycle coverage most likely offers moped coverage as well. Inquire with your insurance professional for more details regarding moped insurance.