Does Your Car Insurance Cover a UHaul Truck?

Name: Noyes Hall & Allen Insurance
Address: 170 Ocean St, South Portland, ME, 04106
Telephone: 207-799-5541

Posted on June 28, 2012April 8, 2022 by admin

The first of the month is a busy time for UHaul, Ryder and other truck rental shops. Pizza shops and beer stores too, as people bribe their friends to help them move. Our clients often ask if their Maine auto insurance policy covers them when they rent a truck.

Our answer is based upon Maine’s most common auto insurance forms, the ISO Personal Auto Policy. Check with your agent to be sure about your coverage.

As long as you’re renting for personal, not business use, your auto insurance protects you for liability, uninsured motorist and medical payments – NOT physical damage (“comprehensive and collision”). So, we recommend purchasing the Collision Damage Waiver coverage that the truck rental agency sells.

By the way, we’re talking about a big truck here – not a 1/2 or 3/4 ton pickup. If you rent one of those, they’re covered the same way a rental car is.

Does Maine Auto Insurance Cover a Rented Trailer?

As long as it’s for personal use, your liability coverage applies just as for the renting a car or truck. Physical damage coverage is limited to $1,500. If the value of the trailer you rent is greater than $1500, buy the CDW coverage offered by the rental agency.

Does My Business Auto Insurance Cover a Truck Rented for Business Purposes?

If your business purchased Hired Auto coverage (part of a businessowners insurance policy or a business auto policy), you may have liability coverage. There are ways to cover the physical damage to a truck you rent for business. Contact your Maine business insurance agency for answers.

See our blog post for information about insuring a rental car on your Maine auto insurance policy. If you have questions about Maine auto insurance or Maine commercial vehicle insurance, contact Noyes Hall & Allen Insurance at 207-799-5541.

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Should You Stay on Your Parents Car Insurance?

Posted on May 15, 2012November 9, 2017 by admin

Congratulations, college graduate! You survived finals, senior week, graduation, and made it through the lunch afterwards without looking half as bad as you felt. Now, reality sets in. In today’s economy, reality might involve swallowing your pride and moving back in with your parents until you can afford another option.

Here are some common questions recent college grads refer to our Greater Portland Maine Insurance Agency. If you live in another state, this advice may or may not be accurate for you.

Am I Covered Under my Parents’ Car Insurance?

If they own the vehicle, and it’s listed on their policy, anyone they allow to use it is piggybacking on their insurance. Even if you have your own car and insurance policy, the vehicle owner’s coverage is primary.

Should I Stay on My Parents’ Policy?

You should stay on your parents’ policy as long as:

Their home is your legal address, AND
You don’t have your own vehicle or insurance, AND
You live at home – at least part of the time.

Your parents have done a lot to help you over the years. Keeping you on their insurance is one more. It doesn’t benefit them – in fact, it will probably cost them money. But it’s an important thing for you.

Being listed on your policy protects you at 3 Critical Times.

When You Drive Someone Else’s Vehicle.

Listing you on your parents’ policy reinforces that you are part of their household, and therefore an “insured”. Unless you’re an “insured”, you only have coverage when they’re driving THEIR vehicles, not anyone else’s. If you are an “insured”, your parents’ liability limits extend to you when you are driving a friend’s vehicle. Your friends probably have a lot less liability insurance than your parents. That could be important if you have an accident. You already have enough debt from college loans; you don’t need a judgment from a lawsuit on top of that.

When You’re Not in Your Parents’ Vehicle

As long as you’re an “insured” (see #1 above), you’re eligible for their Medical Payments coverage. This covers you when you’re a passenger in another vehicle, or a pedestrian. Even more important, you’re covered by their Uninsured/UnderInsured Motorist coverage. For example, if you are injured in someone else’s car when it’s hit by someone with little or no insurance, your parents’ auto insurance will pay for your medical expenses.

When You Buy Your Own Insurance

When you do buy your first insurance policy, you will pay lower rates if you can prove that you’ve had continuious insurance. Insurance companies charge much higher rates to drivers who can’t show proof of prior insurance. A copy of your parents’ policy showing you as a listed driver is considered proof of prior insurance.

When Should You Get Your Own Insurance?

This varies from family to family. Because you might move in and out of the house; with or without a vehicle; to your own place or in with someone else; it’s best to talk to your insurance agent. They can advise you when it’s time to get your own auto insurance.

If you have questions, or would like a Maine auto insurance quote, contact a Noyes Hall & Allen agent at 207-799-5541. We are a Trusted Choice Independent Agency representing many insurance companies. This allows us to combine the power of choice with personalized professional advice.

Should I Keep My Child on My Car Insurance?

Posted on May 15, 2012November 9, 2017 by admin

May is Boomerang Month for many college graduates and their parents. In today’s economy, most grads move back in with their parents for at least some time before going out on their own. Even after they get their own place, they often use their parents’ home as a stable legal address for some time.

Here are some common questions our clients refer to our Greater Portland Maine Insurance Agency. If you live in another state, this advice may or may not be accurate for you.

Is My Adult Child Covered Under my Car Insurance?

If you own a vehicle, and it’s listed on your policy, anyone you give permission to use it also uses your insurance. Even if they have their own car and insurance policy, your policy’s coverage is primary. It doesn’t matter whether that person is your child, your friend, or anyone else.

Should I Keep My Child as a Driver on My Policy?

You should list your child on your policy if:

Your home is their legal address, AND
They don’t have their own vehicle or insurance, AND
They live at home – at least part of the time.

You’ve done a lot of things to help your child, and this is one more. It doesn’t benefit you – in fact, it will probably cost you money. But it’s an important thing to do for your child.

Listing Your Child on your policy protects them at 3 Critical Times.

When they drive someone else’s vehicle.

Listing them on your policy reinforces that they are part of your household, and therefore an “insured”. Unless they’re an “insured”, they only have coverage when they’re driving YOUR vehicles, not anyone else’s. As an “insured”, your liability limits extend to them when they are driving a friend’s vehicle. Young adults don’t always buy enough liability coverage. Your limits will protect your child from a lawsuit.

When They’re Not in Your Vehicle

As long as they are “insureds” (see #1 above), they’re eligible for your Medical Payments coverage. This covers them when they’re a passenger in another vehicle or a pedestrian. Even more important, they are covered by your Uninsured/Underinsured Motorist coverage. For example, if they’re in someone else’s car, a pedestrian or a cyclist, and are hit by someone with little or no insurance, your Uninsured Motorist coverage can pay their medical expenses.

When They Buy Their Own Insurance

When your child buys their first insurance policy, they will pay lower rates if they can prove that they’ve had continuous insurance. Insurance companies charge much higher rates to drivers who can’t show proof of prior insurance. A copy of a parent’s policy showing the child as a listed driver is considered proof of prior insurance.

When Should I Remove My Child from My Car Insurance?

This varies from family to family. Because children can move in and out of the house; with or without vehicles; to their own places or in with someone else; it’s best to talk to your insurance agent. They can advise you when it’s time to remove your child from your auto insurance policy.

How to Be an Instant Insurance Genius With 1 Easy Move

Posted on May 14, 2012November 9, 2017 by admin

Did you buy home, condo or renters insurance from one company and auto insurance from another? You’re not alone. Maybe you bought a policy online to insure your first car. Then, when you bought your house or condo, you found a local agent who found you a good deal with another company. Each of your insurance companies has probably solicited you for the part they don’t insure.

Knowing that combining your home and auto insurance is smart is one thing; actually doing it is another. The good news is, it’s not that hard. Having separate insurance companies may not have hurt you too much so far. Sure, you might have paid a few dollars more, or put up with the hassle of multiple insurance bills, but you didn’t feel enough pain to motivate you to combine them.

That will likely change in 2012.

It’s only May, but 2012 has already brought big changes in Maine home and auto insurance. U.S. insurers have lost money on property insurance for several years in a row, due to natural disasters, broadened coverage, depressed pricing and increased reinsurance costs. With today’s low interest rates, insurance companies’ investment income is depressed as well. As a result, homeowners and Maine condo insurance prices are increasing significantly, and underwriters have become much more picky.

The single best personal property/casualty insurance move you can make right now?

Combine Your Property and Auto Insurance.

Here are 10 reasons why you should bundle your insurance today:

1) Save Hundreds of Dollars
Insurers are increasing the “package discount”, making it more attractive to insure your home and autos together. Many companies have increased the discount from 10% to 15%, 20% or even 30% discounts. This can save you hundreds of dollars a year.

2) Better Homeowners Rates and Coverage
Insurance underwriters (the people who choose whether to accept or reject your insurance application) have become VERY picky about home insurance. If you’re buying a home anywhere near the water, you might be quoted a premium nearly twice what the prior owner paid. You might also have a wind deductible of $5,000 or higher, when the prior owner had a $500 flat deductible. If you only insure your home with that company, you have no leverage with the underwriter. Bundling your coverage “sweetens the pot” for the insurance company, and levels the playing field a bit.

3) Avoid Non-Standard Insurance on Camp or Second Home
They don’t call Maine “Vacationland” for nothing. Maine has the highest ratio of secondary and seasonal homes to primary homes of any state in the US. Preferred insurance companies have willingly insured these homes for decades, even if they didn’t insure your primary home. In 2012’s tighter property underwriting environment, many insurers refuse to insure these properties unless they insure your primary home and auto. We still have access to insurers who will insure a Maine secondary or seasonal home; but, the rates are higher, and the terms less favorable than those of the preferred companies.

4) Reduced Risk of Non-Renewal
The more business you do with an insurance company, the more likely they will consider you a preferred customer. If you have multiple claims in a 3-year period, your name appears on an underwriter’s list of policies to review. Will they consider you “naughty” or “nice”? One factor they consider is the number of policies you have with the company. They’re more likely to cut some slack to a multi-policy customer than to one with a single policy.

5) Increased Convenience, Reduced Risk of Cancellation
If you have policies with different companies, you’re getting billed by each, and paying a billing charge to each. Most insurance companies can bill all of your policies in one bill. They call it “account billing”. It saves you money (billing fees and postage) and time, and reduces the chance of a late payment by at least 50%.

6) Preferred Umbrella Rates
Many financial advisors are shocked to find how little liability insurance many of their new clients have. Most advisors recommend that their clients buy a Maine personal umbrella policy, which provide liability insurance in excess of their home and auto insurance limits. Preferred umbrella insurers require that they insure all of the policies that their umbrella extends over (called “underlying policies”). We have access to companies that provide umbrella coverage without insuring all of your underlying policies, but they’re usually more expensive.

7) More Favorable Deductibles
Some insurance companies require a higher property deductible ($2,500 or more) if they don’t also insure your autos. They will allow a lower deductible if you have other policies with them.

8) Improved Service From Your Agent
An insurance agent’s worst nightmare isn’t losing you as a client; it’s seeing you suffer an uncovered loss that they could have helped you recover from. The more they insure for you, the better they can help you identify and close expensive coverage gaps.

Let’s say your company starts allowing you to work from home. You might tell your auto insurance company you’re no longer commuting, to get a break on your car insurance rates. But you might not think to tell your home insurance company. When your home is broken into and your work computer stolen, or when a business associate visiting your home slips and falls, you could be shocked to find that you have no coverage for that. If one company handles both, they have the full picture, and can better protect you.

9) Almost Free Renters Insurance
Most Portland Maine renters insurance policies start at about $100 a year. Most Maine car insurance policies are about $600 per year. If you get 15% off each by combining them, you’ve saved $105 a year – in essence getting your renters’ policy for free.

10) Smug Self-Satisfaction
Isn’t it satisfying to read one of these blog posts, and say “Already done that!” Yeah, we thought so.

If you would like a Maine auto insurance quote, or would like to discuss your insurance, contact a Noyes Hall & Allen agent at 207-799-5541.

The Most Popular 2012 Vehicles in Portland, Maine (our corner, anyway)

Posted on April 19, 2012November 9, 2017 by admin

The Portland Maine area economy shows signs of life this spring, including car sales. With roughly half of the model year behind us, we thought it might be fun to share which new vehicles our clients have chosen.

We don’t pretend that this is a scientific survey of which cars are the hottest selling, or that it reflects any trends beyond simply what our Portland Maine insurance agency‘s clients have chosen to buy or lease. However, we suspect it’s a reasonable cross-section of local consumer behavior.

It would be interesting to compare these results against prior years, when $4.00 per gallon gas was a distant threat instead of a reality. We do notice that the best-selling models lean mostly towards the fuel-efficient end of the spectrum.

Car Buyers’ Insurance Tips

If you’re thinking about buying or leasing a new vehicle, here are a few tips for saving money on insurance and making sure you have the proper coverage:

Check Insurance Prices – Vehicles that seem similar can have very different insurance costs. Call your agent for a quote, or get car insurance quotes from 5 different companies at once from our online quote service.
Consider Increasing Your Deductible – Generally, new cars cost more to insure than older ones. They’re worth more, and are more expensive to repair. To keep costs down, consider increasing your physical damage deductibles.
Get the Discounts You Deserve – Insurers offer car insurance discounts for all sorts of things, from air bags to being a non-smoker, anti-theft alarms to having a student on the honor roll. Some even offer special discounts for certain types of vehicles, such as hybrids. Contact your agent and tell them about all of the features of your vehicle.
Don’t Buy Coverage You Don’t Need – Many vehicles come with a roadside assistance plan. If you purchased AAA or your insurance policy includes roadside assistance, consider whether you want to drop those. This can save you money. Just remember to add it back on when your new vehicle’s roadside assistance benefit stops.
Combine and Save – If you have your property and auto insurance with different companies, now’s a good time to combine them. Insurers offer substantial insurance discounts when they insure both your property and vehicles.
Review Coverage on Your Other Vehicles – Maybe you have an older vehicle that’s not worth as much as it once was. When is it time to stop insuring collision and comprehensive coverage? That’s up to each individual’s risk tolerance, but it’s a good time to consider it, anyway.
Mind the Gap – New vehicles deteriorate rapidly at first. If you made a low down-payment, your loan or lease could be “upside down.” If your vehicle was declared a total loss, the insurance company would pay the “book value”, which may be less than what you owe the finance company. An inexpensive optional coverage called Loan/lease gap would pay the difference. Talk to your agent about this potentially important coverage.

“Can I Take My Spouse Off My Insurance?” How Divorce Affects Your Maine Insurance Policies

Posted on March 22, 2012January 14, 2020 by Bob O'Brien

Divorce is a major life-change. It’s a complicated and emotional process that takes time to work through. It’s not surprising that it also can have a great effect on your personal insurance coverage. Here are answers to some commonly asked questions about how divorce affects your auto and home insurance. You should discuss your individual situation with your agent and your attorney.

I Want to Take my Spouse Off My Auto Insurance

Until your divorce is final, your insurance agent should not remove anyone’s name from the policy without their written consent. An insurance policy is a contract. Your agent is responsible to BOTH parties to the contract. Each has the same rights under the policy. A professional agent will not only want to make sure that both parties remain covered; they are obligated to honor each person’s policy rights.

We Own Separate Vehicles. Can’t We Get Separate Insurance?

Maybe, but you should consult your attorney first. Maine “joint property” laws may render the registration immaterial. If the property is considered “joint property”, you both should maintain one policy until the divorce is final, and the property is separately owned. Your attorney can help you with this issue.

The Insurance Bills Go to My Spouse. Will My Policy Cancel if They Aren’t Paid?

Yes. That’s why it’s important that your agent knows how to reach BOTH of you; you need to keep them updated. If payment of bills is a problem, discuss this with your attorney; they may be able to arrange for timely payment.

My Spouse Isn’t Reimbursing Me for Their Share. Why Should I Pay for Their Insurance?

It’s important to keep your coverage in force. The best way to do that is to pay the premium that you are billed. Otherwise your policy could cancel – and you would both lose coverage. Don’t “cut off your nose to spite your face”. Talk to your attorney about how to settle the financial details.

I’ve Moved Out. Does Our Homeowners Policy Still Cover My Stuff?

It depends. It is very important that you contact your agent to discuss your individual situation.

My Spouse and I Can’t Agree on Anything.

Sometimes, it is best to let your attorneys deal with these insurance issues. Give your agent permission to talk with them. Have them contact your agent.

If you are looking for a Greater Portland Maine insurance agency that understands how divorce affects your insurance, and can help you protect your assets now and later, contact Noyes Hall & Allen Insurance at 207-799-5541. Our agency represents several insurance companies, so we can offer one-stop insurance shopping.

Maine Insurance Dept.: ME Car Insurance Rates Remain Low

Posted on February 12, 2012November 9, 2017 by admin

Maine drivers pay some of the best auto insurance rates in the U.S., according to this press release from the Maine Insurance Department. While the individual rankings seem to differ from study to study, it’s clear that Maine’s car insurance and motorcycle insurance rates are in the bottom 20%.

Why Are Maine Auto Insurance Rates Low?

A lot of factors go into the rates each of us pays for car insurance or motorcycle insurance. Your location, driving record, the type of vehicle you drive, your age and gender – even your credit score – all play a part. So, it’s impossible to generalize. But, based upon our experience as a Greater Portland Maine independent insurance agency, we have a theory why Mainers pay lower auto insurance rates. We think it has a lot to do with Maine’s culture of responsible behavior. Mainers are less litigious, and more likely to buy insurance themselves, than other Americans. That helps keep insurance rates low for all of us.

How Do Your Maine Auto Insurance Rates Compare?

Insurance companies change their rates and underwriting rules constantly. The only way to tell if you’re paying a good auto insurance rate or motorcycle insurance rate is to compare. Fortunately, we are an independent agency representing many different auto insurance companies. We also represent Progressive and Dairyland, some of the top motorcycle insurers in Maine. We do the shopping for you, and can present multiple quotes at one time. If you want to do your own research first, you can even get Maine car insurance quotes from 5 different companies at once on our web site. There’s no pressure or obligation to buy (although we’re always ready to answer any questions).

If you live in Greater Portland or elsewhere in Southern Maine and have insurance questions, contact Noyes Hall & Allen at 207.799.5541. An experienced local insurance agent is ready to provide personal service.

What If You Are Hit by Someone With No Insurance?

Posted on February 3, 2012November 9, 2017 by admin

The Uninsured Motorist coverage in your Maine auto insurance policy also protects you against uninsured and underinsured drivers. If someone hits you – their fault – and they have no insurance, your policy acts as if they had the same Bodily Injury liability limits you do, and pays for your bodily injuries, and those in your vehicle. It’s the same if the at-fault driver had low liability insurance limits, and you bought higher ones.

Isn’t Insurance Mandatory in Maine?

Yes, in Maine, car insurance is mandatory – at least liability insurance. Maine DMV requires proof of insurance to register your car. So everyone’s insured, right? Not really.

An estimated 4% of Maine drivers are uninsured – and that’s the 2nd best rate in the country. The Insurance Research Council estimated that nearly 14% of U.S. drivers had no car insurance at all.

Repairing Your Car

If you are hit by an uninsured driver, you’ll have to rely on your own policy’s collision coverage to repair your vehicle. That’s assuming that you have collision coverage on your vehicle. If not, you’re on your own to repair or replace your vehicle.

But that’s only half the story: what about the people who buy state minimum liability limits? Maine’s minimum limits are only $50,000 per person, $100,000 per accident, and $25,000 property damage. Is your vehicle worth more than the $25,000 minimum limit? What if the at-fault driver hits more than one vehicle? The minimum-limits driver’s policy only pays a total of $25,000 for all damage.

Out of Staters and Uninsured Motorist Coverage

Mainers are a pretty honest bunch. 96% of them carry at least minimal liability insurance. But what about people “from away”? What’s that nickname on Maine’s license plates again? Oh yeah…

Most of our out-of-state visitors are from the northeast, right? Click on the map below to enlarge it, and you’ll see that of the 10 states within an easy day’s drive of Maine, 2 do not require drivers to buy insurance AT ALL. Six more require per person Bodily Injury limits of $20,000 or less.

In Maine, Uninsured Motorist Bodily Injury coverage limits almost always match your own liability limits. If you have less than $500,000 per person in bodily injury coverage, and your agent hasn’t recommended that you increase your limits, maybe it’s time to contact Noyes Hall & Allen Insurance at 207-799-5541. We represent several different insurance companies, and will help you find the best value for your individual situation.

Should I Drop Collision Coverage?

Posted on February 3, 2012April 29, 2021 by Bob O'Brien

Is it smart to drop collision insurance on an older vehicle? Your decision depends on your own circumstances. Here are a few things to consider.

“The 3 Rules of Tens”

It might be helpful to consider three things when evaluating the risk you take when you remove collision coverage from your Maine auto insurance policy:

TEN PERCENT – When collision coverage costs more than 10% of the book value of your vehicle plus your collision deductible. For example, if the book value of your vehicle is $3,000 and your collision deductible is $500, consider removing collision coverage if it costs more than $350 per year for that vehicle.
TEN YEARS – If your vehicle is more than 10 years old, it may no longer have enough value to warrant insuring.
TEN TIMES – If you have 10 times your collision premium in a “rainy day fund”, you probably have enough of a cushion to put a sizable down payment on a replacement vehicle. If you pay $350 a year for collision insurance and your “rainy day fund” has at least $3500 in it, you might reasonably risk dropping collision coverage. If you don’t have that much saved, you would probably need the insurance proceeds to help you make a down payment on another vehicle.

The Risk of Removing Collision

If another driver hits you and is at fault, their insurance should pay to fix your car – even if you don’t have collision coverage. But remember that fault can be disputed, and not everyone has insurance.

If you remove collision, you’d have no coverage for things like:

Hitting someone when you are at fault – or partly at fault
Someone hits your car, and is at fault, but doesn’t have insurance
Someone hits your parked car and doesn’t leave a note
Running over debris in the road and damaging your car.

When Should You Keep Collision Coverage?

There are some times when you should definitely NOT drop collision coverage:

You have a loan or lease on the vehicle. Your loan or lease contract requires you to carry collision coverage for the length of the agreement.
You have only one vehicle. Most multi-car families can limp by on one car while one is in the body shop. But, if you’re a 1-car household, you’ll probably want coverage to rent another while yours is being repaired. Also, you’ll definitely need to buy rental car insurance on vacation if you don’t have collision coverage on at least one vehicle on your policy.
You’re worried about being hit by an uninsured driver. If you have no collision coverage, someone hits you and it’s their fault, their insurance will pay. But, what if you are hit by an uninsured driver? Obviously, there’s no one else to pay; if you don’t have collision coverage, you’re on your own to repair your vehicle.

Maine’s ratio of uninsured drivers is 4%. That’s among the lowest in the country. But, we’re also inundated with drivers “from away” during tourist season. Other states have many more uninsured drivers.

Questions about Maine Auto Insurance?

If you’re a client, contact a Noyes Hall & Allen Insurance agent in South Portland for answers to your insurance questions. If you’re ready, you can request a policy change here.

If you live in Southern Maine and aren’t a client, call Noyes Hall & Allen Insurance at 207-799-5541. We offer a choice of many of Maine’s most preferred insurance companies. We’re independent and committed to you.

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7 Ways to Trim Insurance Costs This Month

Posted on January 19, 2012November 9, 2017 by admin

Thanks to Maine’s rural nature, mature population, low crime rates and high percentage of insured drivers, buyers of Maine auto insurance and home insurance pay some of the lowest insurance rates in the U.S. Still, there are ways to reduce your insurance costs. Avoiding accidents, tickets and homeowners claims is an obvious one. Here are some others.

Shop Around

Insurance is a very competitive business, as evidenced by the volume of advertising in the media, mail and internet. Every insurance company sets their own rates, and evaluates people differently. If you bought your policy directly from an insurance company (like Allstate, GEICO, State Farm, etc.), they only offer rates from their company. You’ll have to shop on your own.

Consult a Maine independent insurance agent who represents many companies; they will do the shopping for you. Many of them even have web sites where you can compare Maine home and auto insurance quotes from multiple companies.

The Best Time to Shop for Insurance

Your home and car insurance rates depend greatly upon your insurance score. That score is based on most of the same information as your credit score. The higher your score, the lower your car and home insurance rates. To get the best price, shop for insurance when your score is good.

In general, your insurance score decreases when you:

Make a late payment on any type of loan or bill.
Use a higher percentage of your available credit
Apply for a loan or credit card (applying for insurance does NOT affect your score).

The time to get the best insurance rates is BEFORE refinancing or buying a home or car, and when your credit card balances are low.

Package Your Policies

Most insurers offer a significant discount for buying more than one policy from them. If you insure your property and your autos, you can often save $200 or more per year. The same goes for boats, snowmobiles, motorcycles or other types of insurance. Some insurers can even combine your billing, to simplify your bill-paying process, and reduce the clutter in your life.

Don’t Let Your Insurance Lapse

Every month, thousands of people get insurance cancellation notices due to non-payment of premium. This happens for reasons ranging from inattention to bills, to being on vacation, to simply not having the money.

If your insurance lapses, the insurance company may choose not to reinstate your coverage – especially if you’re a frequent slow payer. Few insurance companies will accept you after you have had a lapse in coverage – and they charge higher premiums to account for the additional risk. An easy way to save $250 per year or more: don’t let your policy cancel in the first place.

Communicate with Your Agent – Get the Discounts You Deserve

Your agent knows more about insurance discounts and rules than you do. They know which companies offer auto insurance discounts for driving few miles, owning a hybrid car, or a child being on the honor roll; discounts on home insurance for installing a generator or an alarm system; and which ones have best rates for young drivers. Some companies even offer a discount if you have your policy delivered electronically instead of by mail.

Certain life events affect your insurance, like sending a child off to college, inheriting a vehicle or property, and a child getting their driver’s license. By talking regularly with your agent, you will get advice on the best rate and coverage for your current situation.

Adjust Your Coverage

Pay attention to your deductibles and coverage. When you first bought your home, you may not have had the cash reserves to pay a $1,000 bill for damage. Perhaps now you do. Increasing your deductible from $500 to $1,000 can save hundreds of dollars a year.

Likewise, your auto policy may still have collision coverage on a vehicle with a very low book value. Your agent can help you estimate the savings by removing unneeded coverages or increasing deductibles.

Pay Bills Automatically

Most insurers now allow you to pay your insurance in monthly installments by Electronic Funds Transfer (EFT). Many charge very little – or nothing – for this option. Compared to the traditional “get a bill, write a check” method, this could save you $60 per year per policy. It also assures that your insurance continues without lapse, and improves your “on time payment” record, which helps your credit and insurance scores.

If you live in Southern Maine, and have questions about your insurance, contact Noyes Hall & Allen Insurance at 207-799-5541.

Noyes Hall & Allen Insurance