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Motor Vehicle Reports (MVR) and Insurance Premiums

By Dez Duran-Lamanilao

There are many factors impacting vehicle insurance premiums, including the value of the vehicle, mileage, where you live (urban areas cost higher rates due to higher risk of theft, vandalism and crashes), and your credit history and financial capability. Sometimes to encourage safe driving, insurers also consider drivers who have taken additional safety courses.

 

For boat insurance, a key factor will be the years no claims bonus. The less number of claims you make for a certain number of years, the less your final insurance cost will be. Other optional factors may include breakdown and contents cover, among many others.

And that is not all. If you ever wondered why you have to supply your motor vehicle reports (MVR) during the application process, MVR will actually also affect the insurance premiums that you have to pay.

Aside from your personal details, the driving history will contain the following information:

  • Past and present license suspensions, revocations and cancellations
  • Driver’s license class
  • Special driver’s license endorsements
  • Any license restrictions
  • Traffic violations such as traffic citations, vehicular crimes, accidental reports, and DUI convictions

Since you probably are not looking forward to seeing your MRV pages filled to capacity, the best way to avoid this scenario is to drive safely. While this is an obvious solution, some drivers will not be able to avoid incurring these records. Ask your insurer about enrolling in a defensive driving course to lower your insurance rates and remove points from your driving record, which for example in Alabama, can go back to as far as three years.

Insurance is a common consideration in getting your MVR. However, there is a possibility of errors occurring on your driving record; thus, to avoid an increase in your insurance premium or driver’s license suspension, check your record now and avoid future inconvenience.

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The Pros and Cons of Coastal Living

By Dez Duran-Lamanilao

For some people, living by the sea may be a dream worthy to wish for and follow. The serenity that coastal living promises may be understandably hard to resist. The Gulf Shores in Alabama, for example, is well known for its soft and ultra-bright white sand. Residents can both bask in the sea breeze or a few miles west, even watch sea turtles and migratory birds at the Bon Secour National Wildlife Refuge, an added perk any nature lover would surely enjoy.

Image source: Coastal Living

Aside from having a relaxed mental state and having an awesome view to wake up to every day, living on the coast also allows for more recreational activities, healthier living, and less stress. You can get more Vitamin D from the sun and breathe fresher air. The sea has also been proven as an effective way to get rid of hair chemicals and dirt or even cure skin diseases such as psoriasis and dermatitis.

However, those who wish to invest in coastal properties should also bear in mind the possible drawbacks of such decision:

  • The wear and tear resulting from extended exposure to sea air, which may shorten the lifespan of wood, cement and metal because of the higher level of moisture and corrosive salt it brings
  • The terrain types of properties along the coast are harder than normal to build on, thus may mean more expensive construction costs
  • Greater risk of flooding, which can impact your house and contents insurance
  • The possibility of coastal erosion which may result to temporary or worse, permanent damage to the property
  • Requires more maintenance especially if the façade is directly exposed to the prevailing wind

Whitehaven has specialized in writing high risk coastal properties since 2004. Get in touch with an expert now and find out how you can protect your investment without having to spend more.

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Protecting Your Home from Intruders

By Dez Duran-Lamanilao

The Federal Bureau of Investigation’s (FBI) Uniform Crime Reporting (UCR) program defines burglary as the unlawful entry of a residence or structure (garage or shed) by an individual or group of individuals, whose intention in most cases is to commit a felony or theft. As long as the person who entered the property had no legal right to be present in the property, a burglary can be already established.

Image source: Burglary Lawyer

FBI statistics show that the estimated number of burglaries in 2015 accounted for 19.8 percent of the calculated number of property crimes. Burglaries of residential properties made up the 71.6 percent of all burglary offenses. These figures enough justify the need for homes to be better protected, especially if they are located in high-risk areas.

Burglary can be classified into four types:

  1. Completed burglary. A successful unlawful entry achieved with or without force
  2. Forcible entry. A successful burglary in which force is used to gain entry to a property.
  3. Unlawful entry without force. A form of completed burglary in which no force is used.
  4. Attempted forcible entry. Force is used in an attempt to enter a structure.

There are initial steps that a homeowner can take to prevent burglary:

  • Install an alarm system. Consider asking your provider to deliver a fast response time or to automatically notify the police once an alarm event occurs.
  • Install security cameras. Outdoor security cameras with night vision are recommended and a hard drive that can record a few days worth of video.
  • Invest in strong window and door locks.
  • Leave the lights on especially if you plan on going on a vacation for long periods of time.
  • Protect your valuables by placing them in safety vaults.
  • Households who own dogs are less likely to attract burglars. Keep in mind though, that owning dogs should not be solely due to guarding against burglary.
  • Ensure that your mails and other deliveries are properly monitored and kept away from the prying eyes of burglars.

Finally, you may also opt to purchase a burglary or crime insurance, which covers the property against loss or damage in the event of a house break. You may want to keep a documented list of your personal and valuable belongings as insurance companies usually require documented proof of ownership to avoid possible fraudulent claims.

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Car Insurance and Watercraft Insurance: How Do They Differ?

Boating is a recreational activity mainly done by the middle-class and has always been associated with adventure, bonding, and fun. According to the 2014 National Marine Manufacturers Association data, 35.7% of the US population, equivalent to 87.3 million Americans, participated in recreational boating at least once in 2014. With the enjoyment of such hobby comes the responsibility of protecting the vessel. A basic knowledge of what differentiate watercraft insurance from car insurance will help you decide the type of insurance you need for your boat:

Image source: The Watercraft Journal

  1. Car insurance protects the vehicle for its market value regardless of what is involved in the loss. On the other hand, mort watercraft insurance policies offer a predetermined and agreed value regardless of depreciation on the vessel. Thus, you will get payment for the cost of the boat at the time of purchase.
  2. Insurance for boats can be put on hold, unlike cars which need to be insured as long as they are registered under the owner’s name. This saves money especially if you rarely use your boat. Just remember not to take your boat out when it is not covered during that month.
  3. There are areas that restrict entry of boats and thus will not be included in your coverage. Make sure that you are aware where these areas are.
  4. Except for New Hampshire, all states have ordained mandatory car insurance liability laws. In fact, it is considered illegal in 50 states to drive without the proper car insurance. Though not mandatory, insurance for pleasure boats is usually required if you have a loan using the vessel as collateral. Some marinas also require liability insurance.

To save money on watercraft insurance, follow these tips:

  1. Shop around and get specific with your needs.
  2. Avail of policy discounts on safety features.
  3. Enroll yourself in a boating class. Having a certification can offer savings on your policy.
  4. Stretch out your lay-up period. Insurers can cut your premium if there are specific months that you will not use the boat.
  5. Finally, deal with an insurer that is capable of offering effective options specific to your needs. Whitehaven Insurance can deliver that for you. Get a quote now and enjoy a worry-free adventure the next time you are out on the waters.