An Ounce of Prevention

Turns out, your mom was right when she always said “an ounce of prevention is worth a pound of cure.” Whether you’re maintaining your home or your car, a few easy preventative steps can keep your home in tip-top shape, and your car purring like a kitten.

Home Maintenance:

• Clean up any water spills immediately to prevent mold growth. Exhaust fans can help draw out excess moisture as well.
• Even if you think you live in a safe town, lock your doors and windows at night and when you leave. It’s a tiny step that can keep you safe just in case someone with sticky fingers slides into town.
• Only you can prevent house fires. All right, it’s not exactly how the saying goes, but by making sure that your smoke alarms are in working order, and that you have fire extinguishers strategically located, you can greatly reduce your chance of serious house fires.

Auto Maintenance:

• Change your oil regularly. Oil keeps your engine lubricated, reduces friction and reduces nasty sludge from building up in your engine. Regular oil changes can keep your car running better for longer.
• Replace your windshield wipers every six months. If you see streaks on your windshield or hear strange squeaking sounds, it’s time for a new set of windshield wipers. A new set of wipers can significantly improve your vision during bad weather, which might make all the difference in the world.
• Rotate your tires. Your front and rear tires wear differently, and rotating them can help increase their lifespan and prevent blowouts. Every car is different, but many tire manufacturers recommend rotating your tires every 6,000-8,000 miles.

By following these simple steps, you can reduce your chances of car and home trouble, and save yourself time, hassle and money. Want another way to save those things? Bundle your insurance with ERIE. By covering your home and car both through us, you’ll pay less, and have the peace of mind of having just one insurance Agent to turn to whenever the need strikes. Call us to learn more.

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Trying to Save Money? Avoid these Mistakes

With nearly one in 10 Americans out of work, and others forced to make ends meet with less money, many people are looking for ways to cut costs.

There are many ways to save on home and auto insurance. Be careful, though, not to make mistakes that could result in your being dangerously underinsured.

“When money is tight, it’s extremely important to be financially protected against a catastrophe with the right amount and type of insurance,” said Jeanne M. Salvatore, senior vice president and consumer spokesperson for the Insurance Information Institute (I.I.I.). “By taking a few simple steps, it is possible to cut costs and still be protected should disaster strike.”

According to the I.I.I., these are the five biggest insurance mistakes that people often make:

1. Insuring a home for its market value rather than for the cost of rebuilding. When real estate prices go down, some homeowners may think they can reduce the amount of insurance on their home. Insurance is designed to cover the cost of rebuilding, not the sales price of the home. You should make sure that you have enough coverage to completely rebuild your home and replace your belongings. 

A better way to save: Raise your deductible. An increase from $500 to $1,000 could save you up to 25 percent on your premium payments.

2. Selecting an insurance company by price alone. It is important to choose a company with competitive prices, but also one that is financially sound and provides good customer service.

A better way to save: Check the financial health of a company with independent rating agencies. You should select an insurance company that will respond to your needs and handle claims fairly and efficiently.

Financially strong insurers like Erie Insurance have the financial wherewithal to ensure that  payment is made when it’s due. ERIE has an A.M. Best rating of A+ (superior) with a stable financial outlook. Additionally, ERIE ranks among the 50 top performing insurance companies, according to the Ward Group, which analyzes the financial performance of 3,000 property-casualty companies. ERIE has also won awards for customer satisfaction and claim service by independent organizations.

3. Dropping flood insurance. Damage from flooding is not covered under standard homeowners and renters insurance policies. Many homeowners are unaware they are at risk for flooding. Coverage is available from the National Flood Insurance Program (NFIP), as well as from some private insurance companies.  Erie Insurance offers coverage through American Bankers.

A better way to save: All types of homes, including condominiums, are eligible for flood insurance. You can even purchase flood insurance to protect your contents if you rent your home. It’s a good idea to start the process as soon as you can because most flood insurance policies have at least a 30-day waiting period before they take effect. If you’re already living in a flood zone area, look at mitigation efforts that can reduce your risk of flood damage. Before purchasing a home, check with the NFIP to determine if it’s in a flood zone; if so, consider a less risky area.

4. Only purchasing the legally required amount of liability coverage for your car. In today’s litigious society, buying only the minimum amount of liability coverage means you are more likely to have to make out-of-pocket payments — and those costs may be steep.

A better way to save: The insurance industry and consumer groups generally recommend a minimum of $100,000 of bodily injury liability protection per person and $300,000 per accident. Also, consider dropping collision and/or comprehensive coverage on older cars worth less than $1,000.

5. Neglecting to buy renters insurance. A renters policy covers your possessions and additional living expenses if you have to move out due to a disaster. Equally important, it provides liability protection in the event someone is injured in your home and decides to sue.

A better way to save: Look into multi-policy discounts. Buying several policies with the same insurer, such as renters, auto and life will generally provide savings.  

For more information about how you could save money on your insurance policies, contact our agency.  We can answer your questions and review your insurance coverage needs.

Not all companies are licensed or operate in all states. Not all products are offered

in all states. Go to erieinsurance.com for company licensure and territory

information.