Whether you are insuring your first vehicle or you simply have not shopped your car insurance in Lake Charles, La. a while, the goal is the same: You want to be sufficiently covered if you are involved in an accident, without paying more than you need to. Unfortunately, individuals do overpay because they lack the time to shop for their car insurance. However, shopping your auto insurance can save most individuals could save hundreds of dollars a year.
Kelly Lee Insurance in Lake Charles, Louisiana, represents over 50 insurance carriers; allow us to do the shopping for you.
Step 1: How Much Insurance Coverage do You Need?
To find the best auto insurance policy, start by figuring out how much insurance coverage you will need. In Louisiana, every vehicle is required to have minimum liability limits of 15/30/25. The payments, or numbers, break down as follows: $15,000 for bodily injury to one person, $30,000 for bodily injury to more than one person per accident, and $25,000 liability coverage for damage to the other vehicle if you were at fault.
Determining How Much Car Insurance Do You Need
Knowing Louisiana State Minimum Insurance requirements will help decide the amount of coverage you need. This decision is based on the level of personal risk you are willing to assume.
Industry authorities recommend obtaining enough liability coverage to protect your personal assets in the event of an accident. If you obtain an insurance policy with $50,000 of bodily injury liability coverage and your personal assets are worth $100,000, in an at-fault accident (you caused the accident) that exceeds your $50,000 insurance coverage, the injured party can be awarded money from your personal assets (personal assets can include your savings, retirement and even your home).
The type of vehicle you drive carries weight on your insurance needs and requirements. If you currently drive an older model vehicle and do not own assets, your requirements will be less than if you purchased a top-of-the-line new vehicle, own a home, and have a large savings or retirement account. Your vehicle's insurance coverage should reflect how much you stand to lose if you cause an accident.
Step 2: Review Your Current Insurance Policy
As dull as it is, read your current policy thoroughly or contact your insurance agent in Lake Charles, Louisiana, to obtain the information you need. Take notes on the amount of coverage you currently carry and the amount you are paying for it. Examine the monthly and yearly cost of insurance; most insurance companies quote policies both ways to compare policies.
Step 3: Know Your Driving Record
Most individuals know if they have had any tickets or accidents in the last three years; if you can't remember, check with the Louisiana department of motor vehicles. If a ticket is about to roll off your driving record, consider waiting to shop insurance or purchase a vehicle until it does. Your improved driving record will help you find the best auto insurance rates.
Step 4: Research Competitive Quotes
Now you are ready to shop your car insurance in Lake Charles, La. Schedule time to speak with several agents or find an office that writes for many carriers. You should have a copy of your current insurance policy in hand, your driver's license, and your current vehicle registration. Keep in mind, not all insurance companies over multiple insurance carriers. You can save valuable time by working with an agency that writes for and can shop multiple carriers by giving your pertinent information to one agent.
Step 5: Gather Company Information
Once you have your competitive quotes, carefully review the coverage and rates to ensure the coverage limits are the same and inquire about the insurance companies' payment policies (when payment is due, paid in full discounts, what happens if your payment is late).
Step 6: Ask for Discounts
When you shop for insurance, ask if the various companies offer discounts. For example, many insurance carriers offer good drivers, good students, vehicle safety ratings, security equipment, multi-policy, and other occupational or professional affiliation discounts.
Step 6: Ask for Discounts
When you shop for insurance, ask if the various companies offer discounts. For example, many insurance carriers offer good drivers, good students, vehicle safety ratings, security equipment, multi-policy, and other occupational or professional affiliation discounts.
Step 7: Assess the Companies
Now you should have the insurance policy price and coverage information you need to decide. You can look at which company offers the best insurance coverage at the best price, but price should not be the only basis for choosing an insurer. A company's financial stability should be considered. A history of taking care of their clients should be evaluated as well. You can find how an insurance company treats its clients by visiting the National Association of Insurance Commissioners' Consumer Information Source to assess a company's performance. The NAIC provides licensing information and critical financial data about insurance carriers. You also can visit the Louisiana State Insurance Commissioners website to view consumer complaints and rate comparisons auto and homeowners insurance.
Step 8: Cancel Your Previous Policy
Once you have selected the new auto insurance policy you want and have your proof of insurance, you need to cancel the policy with your existing insurance company.
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How much does homeowners insurance cost is a popular question. For most people, their home is their largest asset, and protecting that asset can be pricey. Homeowner's insurance can vary widely based on many rating factors, such as condition, location, size, features, furnishings, and your marital status and credit score.
The answer to the question of "how much does a homeowners insurance policy cost" is based on many factors, a few of which are listed below.
The short answer - it depends.
As technology progressed so did the rating factors. Software systems are getting more sophisticated, and historical data has allowed policy underwriters to more accurately calculate rates based value, location, and condition of the home, along with the extent of coverage, deductible, and the homeowner's credit and claims history.
Understanding How to Choose Coverage and How Much You Need
Home Insurance has three fundamental types of coverage that determine the amount of compensation you receive following a covered disaster.
Actual cash value (ACV) - Protects your structure and contents based on their current value, not to be confused with what you paid for them.
Replacement cost (RC) - Protects the structure and contents based on what they cost now up to the policy's value.
Guaranteed or extended replacement cost/value (GRCV) - Protects the structure and contents based on the present-day cost to replace and/or rebuild your property at a designated percentage above the policy limits.
The cost of the policy is also based on the dollar amount you insured the dwelling, liability coverage you agreed to, in addition to other factors.
Many individuals find they are underinsured when catastrophe strikes, and is especially true of individuals that maintain enough coverage to satisfy the mortgage company. Policyholders should understand that mortgage companies are only concerned with protecting their investment; your contents and additional property are not their concern.
The National Association of Insurance Commissioners' most recent data (from 2017 – 2018) reported increased premiums of 3.3% across the country. The report also revealed that homeowner's insurance premiums are higher in areas with greater population due to real estate values and construction costs.
Increased insurance rates is also the case for popular vacation and retirement areas, areas prone to natural disasters such as tornadoes, wildfires, earthquakes, and hurricanes
When researching homeowner's insurance in my area, it would be beneficial and save time if you have the following information handy:
The dollar amount and specific coverage are the most significant determinants of policy price; other factors come into play. Condition and age of the home (has it been reasonably maintained), materials used to build the home, and the age and condition of the roof.
Underwriters also consider:
Most states allow the credit history of a homeowner to factor into rates.
Proximity to a fire hydrant, police, and fire station can also positively impact your homeowner's insurance.
Your neighborhood and claims history in the community, along with the crime rate in your area, can impact your rates.
Additional endorsements to cover particular circumstances or personal property also impact rates.
When trying to find a cost-benefit balance, ensure your liability coverage is enough to protect your personal assets, in the event an accident and the injured party sues you. If you fail to carry enough liability insurance, courts can attach an award to your personal assets. If your assets are substantial, consider adding an umbrella policy, the cost is minimal, but the liability coverage can be significant.
A leading liability claim is dog bites – most homeowners insurance and liability policy coverage extends to your children and pets.
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Considerations for Lowering Your Homeowners Insurance Rates
If premiums for your homeowner's insurance are coming in too high for your budget, consider the to lower your rates. Keep in mind, higher deductibles mean more out of pocket expense if an incident or accident happens.
Increasing your deductible. Increasing the amount of money you are willing to pay out-of-pocket before your coverage kicks in can lower your premiums. Increasing from $500 deductible to $1,000 deductible can decrease your premiums by as much as 25%.
If you are going to increase the deductible, you should have a savings account with the $1000 set aside in the event of an incident or accident.
By raising your deductible, it will also mean that you will need to absorb the costs of repairs you may have otherwise claimed. Claims such as repairing a broken window, or replacing flooring from a leaky pipe will likely cost less than or come in just above the cost of your deductible.
Insurance policies may also include different deductibles for distinct perils. For example, hurricane deductibles on homes along the coast are generally a percentage of the insured value of the home, where other peril deductibles like fire is most often a fixed dollar amount.
Adding security features and making certain repairs can also lower premiums. Types of additions and repairs that can lower your homeowner's insurance can include:
When renovating, consider using materials with a higher safety rating. Examples are steel framing and cement; while these items can cost more upfront, they are more cost-effective to insure due to their flame-resistant qualities.
A claims-free discount may be available if you have maintained insurance through the same company for years. Additional savings may be available if you carry multiple policies with the same insurer (think of bundling your auto and homeowners with the same provider).
Being prudent with your claims is another way to save money on your homeowner.
Your insurance is there to protect you from financial disasters; think carefully before filing a claim that is worth very little after paying your deductible. Your claims history has an impact on your insurance rating and can cause premiums to increase at renewal.
Don't treat your homeowner's insurance policy as a maintenance plan. Home insurance is for accidents or incidents that are unexpected, and you can't afford to pay for out of pocket.
Claims free individuals and households benefit from being a low-maintenance customer. The rewards are reflected in lower premiums. Owning your home outright can also lower rates with some underwriters.
When shopping for homeowners insurance in Lake Charles Louisiana, look for a reputable company with access to multiple insurance underwriters; this will allow you to fill out one quote form and your agent to do the shopping for you.
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Unsure whether you need a personal auto or commercial auto insurance policy? Below are a few considerations when deciding which type of insurance policy best suits your needs.
Who Owns and Drives the Vehicle
If your business owns your auto, you most likely need a commercial vehicle insurance policy. If you are sole owner of the company, you may only need personal auto insurance. The type of insurance policy you need depends on what you use the vehicle for and how often you use it.
How the Vehicle is Used
If your vehicle is used for business purposes, most individuals need a commercial auto insurance policy. If, however, you are a sole owner traveling to a couple of job sites a day or only use your company car for commuting, you may only need a personal auto policy.
The Type and Weight of the Vehicle
If your work vehicle is heavier than a traditional pickup or SUV, such as a tow truck, dump truck, or 18-wheeler with a commercial trailer, you will probably require a commercial vehicle insurance policy. Heavy-duty vehicles typically cause more damage when involved in an accident and often require special insurance coverage.
Required Business Liability Limits
If your business by trade or clients require higher liability limits, you will generally need a commercial vehicle insurance policy. Commercial vehicle insurance policies generally offer higher limits than personal auto insurance policies.
How do you determine if you need auto or commercial insurance?
Personal auto insurance policies limits generally provide high enough auto insurance coverage for some businesses, particularly if you drive your vehicle for personal use. However, if you require specific commercial auto insurance coverages, high Liability limits (limits exceeding $300,000), operate an a unique vehicle, haul heavy or special equipment, transport people or goods, or have additional special needs, then you will want a commercial vehicle insurance policy.
COMMERCIAL VEHICLE COVERAGES
Liability Coverage is essential coverage that includes injuries or damage you cause to other people or property if you're at fault for an accident.
Bodily Injury - Property Damage - Uninsured Motorist - Driver protection
These four coverages can help pay for your medical expenses if you or your passenger(s) are injured while driving a commercial vehicle.
Medical Payments - Personal Injury Protection - Pet Injury Coverage - Vehicle protection coverage
Protects your investment against damage to your vehicles caused by collisions and a wide array of additional mishaps that can happen to your vehicle.
Physical Damage - Collision - Comprehensive - Individual Named Insured Endorsement - Fire and Theft with CAC
Large trucks share many of the same insurance coverages as other commercial vehicles, here is where's it gets more specific to trucks.
Non-Trucking Liability - Trailer Interchange - Motor Truck Cargo - Motor Truck General Liability - Rental Reimbursement with Downtime - Specialty coverage
Some businesses occasionally need specialized protection in addition to basic liability and truck damage coverage.
Any auto - Non-Owned Car - Hired auto - Drive Other Car - Single Deductible Endorsement - Tow specific coverage are a few examples.
TOW SPECIFIC TRUCKS
While tow trucks share many of the same coverage as other commercial vehicles. Tow-specific coverage is geared towards tow trucks are
Garage keepers Legal Liability Insurance - On-Hook Towing Insurance
Still need help deciding? Call Kelly Lee Insurance and allow one of our experienced commercial vehicle insurance agents to guide you.
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Necessary Steps to Take After Being Injured At Work
Even if you have been trained to take every precaution during work, still situations can arise where you might get injured. Accidents related to snow, rainy weather, inexperienced co-workers, equipment failure or unexpected incident while at work or on the clock can result in injury. When an accident happens at work, several steps should be taken to ensure the accident's safe and smooth management.
You find a list of steps in the preferred sequence below.
Report your injury
Report the injury to your employer or supervisor as soon as possible. There have been cases when the employers or the injured person's insurance provider denied the claim because it was not reported. Therefore, we suggest reporting the incident within 24 hours of happening, if immediately is not possible.
Letting the health care provider know that the injury is work-related
When you seek medical treatment, you should inform your doctor the injury was work-related and how it happened. Additionally, the doctor should refer to the injury as work-related in your medical reports. If your medical reports do not have the reason mentioned, most workers' compensation claims will deny financial responsibility. Check Louisiana workers' compensation benefits for more details.
Provide your employer with a notice of the incident
Every company has a standard injury reporting policy; however, each may vary. You should contact your employer as soon as possible and inform them about the incident. Explain in detail the events surrounding the accident and take notes, including whether an official accident report is created to prove the incident for future needs. The report will act as proof that you reported the case on time. Also, please obtain a copy of the report to keep it secured.
Keep track of your incurred expenses
Start and keep a diary of all missed days of work, all travel to and from doctors, physical therapy, pharmacy, and additional out-of-pocket expenses, including prescriptions.
You can qualify for a worker's compensation benefit, but that largely depends on the severity and the nature of the injury you incurred. In most cases, you can obtain reimbursement for your medical and prescription expenses, lost wages, the number of days you could not work, and travel expenses.
Contact your workers' compensation insurance broker for help
The process of claiming compensation be daunting and time-consuming. There are less reputable insurance adjusters that may use your given statements against you when you claim compensation. You will need to ensure you have someone to guide you. You will need to file an injury incident form, and a broker will be able to guide you through the paperwork.
You can follow all work-related safety measures, be very careful with what you do at work, and still find yourself in precarious situations. Knowing what to do after a work-related accident is crucial to compensation. Kelly Lee Insurance can guide you through Louisiana workers compensation claims benefits with an experienced hand.
Contact Kelly Lee Insurance if you need to obtain a policy or assistance with a current Louisiana workers compensation insurance policy.
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A bi-yearly or yearly, depending on where you live, inspection of your property and home is good practice to create. The seasons can be rough on your home's exterior and interior. Winter freezes can be especially rough on roofs and chimneys and affect the interior and exterior walls, windows, foundations, and decks.
Taking the following precautions can save money, time and the headache of a homeowners insurance claim.
This does not require you to climb up there, you can inspect and spot potential trouble with binoculars and a keen eye. If you see shingles that appear to have shift, or not inline, it could indicate that fasters have failed and need to be replaced. You might also spot cracked and missing shingles, or lumps where the nails have come loose and pushed the tabs of the shingles up, this can allow water to drip through.
No matter if you have brick, stucco, or wood siding, occasional inspection is essential to ward off expensive future repairs. Look under gutter downspouts and eaves. Water stains typically indicated your gutters are not sufficiently containing water runoff. If your home has wood siding, check wood spacing for openings, look at the knots in the wood, have the knots popped out? Openings in a wood exterior allow carpenter ants and bees and other critters, to burrow and nest.
When conducting your yearly or twice a year home inspection don't forget your homes foundation. You are looking masonry cracks. If you discover cracks, household caulking will not do the job.
You will want to employ a foundation specialist that can utilize an epoxy injection system that chemically bonds the cracks.
Your windows were installed with weather stripping and caulk, over time these products erode, leaving space for air leakage. During the summer months, you might not notice as much, but cool air flowing in is usually detectable during the winter and indicates a new seal is needed. If the caulk around the window needs replacing, this is an easy fix. Simply strip the old caulk, clean the area, and apply a fresh caulk seal. If your windows are double pane and you experience condensation inside the double pane, your weather seal has been compromised and needs repair. Generally, you will need to consult a window repair company.
HVAC (Twice a Year)
You should check your HVAC system twice a year. In the fall, before using the heating system and in the spring before engaging air conditioning. You want to check hose connections for leaks and that the drip pans drain freely. Your HVAC unit endures all the hardships the seasons have to offer. Over time, the HVAC unit acquires dust and leaves, and debris can find its way past the exterior screening. Vacuum dust and debris from the unit and connections; if you notice a cooling or heating performance issue, you will need to call in a professional for assistance.
Inspect your attic for signs of intrusion. Have insects, rodents or other critters set up house. Look for mold growth; mold can look like patches of black or gray stains. Adequate ventilation and insulation deter mold and immediately address mold issues to prevent a problem from developing in the summer months.
Checking leaky faucets, slow drains, and sweaty pipes, inside and outside your home, can save you money and headache. Check under the bathroom, utility room, and kitchen sinks for any discolored buildup on the lines. Discolored buildup running down the pipes indicates a leak. A steady leak can erode the wood below and turn a quick fix into an expensive remodel in a very short time. Check your refrigerator ice and water hoses, especially when spring cleaning, after pulling it away from the wall. Puddled water around the dishwasher, washing machine, water heater flooring indicates a hose problem exists and needs addressing before a full-on flood event occurs. While checking the dishwasher hosing is not as easy, checking the water heater and washing machine hoses for deterioration, corrosion, and cracking is easier. You might feel more comfortable calling a plumber to address these items.
Outdoor water systems
Faucet pipes and sprinkler systems should be checked before engaging them in the spring.
Decks and Patios
Inspect your deck for loose, warped, or splintered boards and, if found, repair or replace them as soon as possible. Regardless of the type of material used to build your deck, cleaning and removing debris from your deck, especially between the boards, maintenance must be done yearly to extend the material's life. If your deck is starting to look faded and worn, consider deep cleaning and reapplying stain and sealant, splintering wood can be sanded first. Slip and trip accidents on decks and patios happen fairly frequently. To help keep your homeowners insurance in Lake Charles, Louisiana injury claim-free, deck maintenance remains at the top of our list of bi-yearly maintenance chores.
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Make sure your car insurance coverage reflects your individual needs and budget. The following are questions you need to ask and know when shopping for car insurance in Lake Charles, Louisiana.
The car or truck you own, your priorities, and your finances factor into your distinctive car insurance needs. Before evaluating insurers and policies, consider how you use your car and the risks you face to understand the options that make sense for you.
1. What type of car do you drive?
Insurers have compiled data on every model of vehicle and know the precise details of which brands, makes, and models are likely to encounter frequent claims. The powerful sports car is more likely to be stolen and is more expensive to repair than a mid-sized sedan, and your insurance premiums will be levied accordingly. Certain models of cars, such as modified motorcycles, trucks and classic cars require additional or specialty insurance. While discounts are offered for newer cars with high safety ratings and features.
2. Is your car financed or leased?
If you have financed or leased your car, the lending and leasing institution usually requires you to carry insurance for the vehicle's full value and may require you to purchase gap insurance. Gap insurance is specialty insurance that covers the difference between the market value of the vehicle and what you owe on the vehicle. Comprehensive/Collision insurance will cover up to the market value of damage to your vehicle in the unfortunate event of incident or accident, where specialty (or supplemental) gap insurance covers anything above market value.
3. How many miles do you drive?
Do you drive to and from work, pick up children from school and after school activities? Are your accumulated miles driven 100 miles a month or closer to 500 plus miles a month? Your insurance policy should reflect how often you drive your vehicle. If you drive infrequently, you might qualify for a lower cost mileage-based insurance.
4. Additional car drivers?
In most cases, your insurance policy covers an occasional driver. However, if someone in your household drives your car more than occasionally, they should be added to your policy.
5. Do you use your vehicle for work?
If you are paid to perform duties that require you to drive after arriving at work, chances are you need a commercial vehicle insurance policy. For example, if your full-time or side business is as an uber driver or pizza delivery, personal insurance does not cover commercial activities.
6. Is vehicle appearance important to you?
If your chosen vehicle is something you take pride in and appearance is important, you will likely wish to restore it to pre-accident condition. In this case, full coverage auto insurance that includes comprehensive and collision is the correct choice. However, if you purchased a cash car and view your vehicle mean-to-an-end you could consider starting a savings account to bank the additional premiums you could save by purchasing liability only. Keep in mind liability only covers the other vehicle or incident up to policy limits; your vehicle repairs will be out of your pocket.
7. Where does your vehicle reside?
Where you keep your vehicle impacts your insurance premiums and it factors into the coverage you choose. If your parking space is on an urban street, you face a more considerable risk of vandalism, theft, or accident, and comprehensive collision might be a better choice for you. Your address and parking play a large role in premiums.
8. What is your state legal obligation
Every state has a legal insurance requirement, and the legal policy limit varies from state to state.
To maintain your license and drive a vehicle, you must carry your state's minimum liability insurance. But, If you choose to carry only your state's minimum liability, you run the risk of litigation for the difference between the accident's value, including medical bills, against your personal assets.
Many Louisiana residents find that carrying a higher level of coverage is worth the minimal difference in premiums to protect their personal assets. Once you have answered the questions above, you should better understand your car insurance requirements; then, all you need is an agent's assistance to find the coverage you need at the best price. Are you looking for car insurance in Lake Charles, Louisiana? Call the team at Kelly Lee Insurance; their firm represents over insurance carriers across the United States.
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Since the first insurance policy was written in 1752 by the Philadelphia Contributionship, citizens have relied on their insurance policy for financial protection in times of misfortune. Your insurance policies should provide you comfort from the unpredictability of life. However, insurance policies should evolve as your life changes.
Your insurance may not be sufficient in a time of need if you don't evaluate it regularly.
As your family and finances prosper, your insurance needs change. Therefore, reviewing your insurance policy on a yearly or biannual basis would be a wise decision.
We bring five milestones to your attention below and suggest, at a minimum, reviewing your insurance policy at each juncture.
1. Changes in your family
Many individuals invest in personal life insurance as soon as they start earning. Most designate a family member as beneficiary. If you don't currently have life insurance, we recommend looking into a life insurance policy if you are considering marriage.
If you currently have a life insurance policy at the time of marriage, you will want to consider making changes to your policy beneficiaries.
If you are planning to start a family, or if a baby is on the way, you will want to reevaluate your life insurance plan to include their financial well-being. As the number of new family members grows, so may the changes in your insurance needs. Consider every new life event an opportunity to review your insurance policies to effectively protect your loved ones in the event of catastrophic loss.
2. Purchase of a new property
When you purchase a new home or invest in real estate, you will want to consider how your family would pay the mortgage if one of you were not there. The purchase of new property, new car, or investment in rental properties are financial ventures where a life insurance policy can protect your family. Keep all your financial obligations in mind when determining life insurance needs and adjust your insurance policy(s) accordingly. You will want to find an insurance agent that understands your needs and will check with you annually to ensure your family security insurance Louisiana is sufficient protect your family.
3. Promotion or a change in job
A new job can quickly increase or decrease your annual income, thereby prompting you to reconsider your liabilities. Your liability insurance needs may increase as your standard of living does. Take this opportunity to ensure your family's standard of living will be maintained if the unfortunate happens.
4. Changes in your physical and mental health
Every person chooses the most appropriate life insurance policy to suit their family size, their financial position, as well as their health conditions. Health and age play a role in life insurance premiums; if at the time of purchase you were involved in unhealthy habits but changes were made, your life insurance agent in Lake Charles Louisiana might be able to have your rates lowered.
In such circumstances, you might consider investing in a policy at a premium and have it reevaluated to lower rates as you take better care of your health. Evaluation of all aspects of your life and review of your policy(s) by a family security insurance company in Louisiana will work in your favor.
We at Kelly Lee Insurance, a family security insurance company in Louisiana, can assure you an in-depth review of your insurance policies to help you keep your family financially secure in the event of the unthinkable. Contact our office a comprehensive quote on family security insurance Louisiana!
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If you are running a business, you should know why Louisiana workers compensation is crucial to protecting your business. It doesn't matter the type of business you are running or your business's size; understanding worker insurance basics is necessary for every company with employees.
Most business owners understand the basics of worker compensation; which is to compensate workers if they are hurt on the job. But did you know that this is just one aspect of Louisiana Workers comp Insurance? In this post, we are going to look at some of the most important facts about Louisiana worker's comp insurance.
Workers Compensation Insurance can protect your company from time-consuming lawsuits after an accident.
Before the introduction of the worker's comp insurance in Louisiana, employees that were injured on the job were paid directly by the employer, and such cases were mostly settled in court; This resulted in companies losing billions of dollars, and the process was onerous. With the introduction of workers compensation insurance in Louisiana, companies were removed from direct involvement in the payment of compensation.
Employees obtain compensation for the loss of wages and medical bills.
Injured employees that require extensive recovery receive a percentage of their salary during the period they are recovering from their injury. Through the compensation insurance program, the employees are compensated for temporary partial disability and temporary total disability to sustain the employee during the recovery period. In addition, the injured employee will also receive medical coverage for all reasonable medical expenses.
Worker's compensation negates lawsuits.
Worker's compensation is a sort of trade-off for the employees and employers. An employee who has been injured while on the job will receive compensation for the loss of wage and medical expenses removing the need to sue the company for the injury. But this should not be construed as the employee can never sue his or her employer. If the injury was due to lack of employer safety precautions, or reckless endangerment of the employee, intentional or otherwise, then the employee can pursue additional compensation in court.
Not every employee is covered by workers' compensation.
State laws vary on workers' compensation. Some states require workers compensation for businesses with one or more employees while others require the purchase at different levels of employment or the risk associated with the job, etc. Many states do not require or provide workers compensation insurance for seasonal or volunteer workers, including farmworkers. If you own a small business, it is best to consult with your state's employment governing body or a worker's compensation provider to understand worker compensation status in your area.
All incidents are not covered.
There are many incidents of injury on the job that are not covered under the worker compensation insurance. If an employee is found under the influence of alcohol or drugs at the time of the injury, then his benefits under worker compensation will be forfeited. In addition to this, if an employee is found to have intentionally hurt him or herself to obtain compensation, his or her rights under the insurance policy are also forfeited.
Understanding worker compensation insurance is as necessary as buying it from the right worker's compensation provider - like Kelly Lee Insurance. Use this blog post as your guide to worker compensation and know your rights and responsibilities as a business owner.
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There are many small and medium-sized businesses that opt for commercial auto insurance for different types of company vehicles like trucks and cars. Many teenagers take-on driving jobs to support themselves. If the company owns a vehicle that these teenagers drive, it becomes mandatory to apply for commercial auto insurance Louisiana to limit their liability. However, if you are running a small-sized business and using your personal vehicle, then you may not need commercial auto insurance.
The commercial auto insurance Louisiana that you will buy for your firm with teenage drivers will be considerably different from what is offered by auto insurance companies in Louisiana. And this is why it is crucial to understand the differences between commercial auto insurance and affordable auto insurance Louisiana.
So, let’s go through the top 5 facts that you need to know about commercial auto insurance, especially if you are engaging teenage drivers.
Commercial auto insurance is never a ‘maybe’
If you try to get away with regular auto insurance while owning a commercial truck, then you are putting yourself in trouble. Commercial auto insurance doesn’t only protect the truck, but it also provides financial protection for the driver.
The protection of the person driving the truck is what matters the most and this is why even after being complicated and a little bit costly, commercial auto insurance is a must.
Never trust if it’s too good to be true
Many auto insurance companies in Louisiana use industry jargon when describing commercial insurance Louisiana that can be hard to decipher, making you believe that you are getting more than average insurance benefits.
Many insurance companies do this in order to hide the real coverage of the insurance policy and if you want to stay away from such traps then the one thing that you will need to do is to analyze the payment of claims by the company and look at the history of the company.
Your driver is always a big part of the auto insurance policy
Do not believe in the common misconception that teenagers can’t be good drivers, a history of good driving experience isn’t the only thing that matters as your driver is responsible for taking care of your vehicle. By going through the driving record, you can learn a lot about the professionalism and skills of the driver that you are choosing.
If a driver will have a bad driving record then it can turn out to be a nightmare for the auto insurance company as they will always be a high risk for claims and no insurance company will be interested in it. This is why you will need to hire only those drivers that have good records.
Insurance companies are fond of recordings
If you are working with an reputable insurance company, they will fight for their clients. You can make things easier for insurance companies and yourself by providing a clear picture of the accident. The recording of any truck collision can make or break the claim and this is why you will need to be earnest about it.
Working with the right commercial auto insurance company will allow you to offload the hassle of keeping your truck and the driver protected. An ideal commercial auto insurance company like Kelly Lee insurance will make the claim process easier and keep you protected through an affordable auto insurance Louisiana.
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Buying an automobile, the next thing the auto owner would need to do is purchase auto insurance. While many first-time auto owners in Louisiana are concerned with finding the lowest premium, it might not be an appropriate decision. The cheapest car insurance in Lake Charles LA does not ensure adequate protection in the event of an accident or incident. You will be better served speaking an experienced agent that takes the time to understand your needs before purchasing car insurance from one of the many insurance companies in Louisiana.
Kelly Lee Insurance, an affordable auto insurance agency in Louisiana has expanded to over 50 carriers to provide its customers with quality options and affordable insurance.
We share below tips on reducing your auto insurance costs:
Compare Insurance Costs Before You Purchase Your Car
Don’t wait until you purchase a vehicle to shop the insurance for it. When it comes to auto insurance, the car's price, cost to repair, safety records and likelihood of theft impact your rates. Insurance discounts are available for cars with built in safety features, high crash ratings and lower risks of theft. Get the most affordable auto insurance in Louisiana by comparing it with other insurance providers.
Look for higher deductibles
While looking for auto insurance, compare higher deductibles. By deductible, we infer the amount that you need to pay out of pocket before your policy kicks in. The advantage of the higher deductible is that you can lower your premium costs substantially. For instance, if you pay a $1000 deductible instead of $500, you can reduce your comprehensive coverage cost by 15 to 30 percent. A point worth keeping in mind is that you need to be able to pay the deductible in the event of an accident or incident. Consider putting the savings from a higher deductible into a savings account.
Keep a good credit score
A good credit score has a positive impact on your insurance premiums. Insurance actuaries have shown that individuals with a good credit score submit fewer claims, maintain insurance, and pay their premiums. Timely payment of your bills tends to lead to a good credit score. Keeping a low balance on your credit cards, while making consistent and timely payments is known to have a positive impact on your credit score. Conversely, high balances on credit cards tend to have a negative effect on your credit score. You can keep track of your credit score with sources such as CreditKarma for free. You can sign up for suggestions for improving your credit score and notifications when something negatively affects it.
Low Mileage Discounts
To get affordable auto insurance in Louisiana you can take advantage of low-mileage discounts. Low mileage discounts are provided by the insurance companies in Louisiana to those drivers who drive lower than average number of miles per year. If you have a low mileage rate, you can apply for low mileage discounts. These discounts can also be availed by drivers who carpool to work.
Don't Overlook Personal Accident Coverage
With a personal accident cover, you can rest assured of adequate protection against physical loss or disability due to an accident. Personal accident coverage can also protect passengers in your vehicle.
When shopping insurance coverage for a new vehicle, it is essential you consider your financial safety. If you pay cash for a new vehicle, consider how much you could pay out of pocket for another new vehicle if you were in an accident and totaled this one. An automobile is a substantial investment, and if you are financing the vehicle your lender will require you carry full coverage. While affordable auto insurance in Louisiana is becoming more and more difficult to find, Kelly Lee Insurance will shop for the coverage you need at prices you can afford.
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