How Having an Electric Vehicle Affects Insurance Rates

Did you know that your auto insurance rates can be different if you own an electric vehicle? In fact, in most instances, your insurance will be higher for an electric vehicle. Let’s take a look at some of the reasons why this is the case from TruePoint Insurance in Fisherville, KY.

Higher Costs of the Vehicle

On average, electric vehicles cost a great deal more than the more conventional automobiles. They can cost around 70 percent more on average, according to studies conducted by Nerd Wallet. The higher price tag means that the insurance company has to pay more if the vehicle is stolen or damaged.

High Repair Costs

It tends to cost more to conduct repairs on an electric automobile. This is because they have expensive battery systems and you have to bring the vehicle to a specially trained mechanic. Though these vehicles usually don’t need repairs as often, this definitely has an effect on how much its insurance is going to cost. 

Size of the Car

Electric vehicles typically are smaller than other automobiles. Since smaller cars often don’t offer as much protection in the event of a collision, they are sometimes deemed as higher risk vehicles. This can increase the amount you’ll be asked to pay for your car’s insurance coverage.

Even with the fact that you’ll almost certainly have to pay more for insurance, there are many benefits that come along with owning an electric vehicle. Your car may qualify for a federal tax credit of around $7,500, a big plus as it will offset what you pay for insurance. 

Be sure to ask plenty of questions to understand insurance for your electric vehicle. The team at TruePoint Insurance, serving the greater Lawrence and Fisherville, KY area, can answer your questions to make signing up for auto insurance less of a stressful experience.

 

What Fisherville residents need to know about condo insurance

The real estate market continues to be very strong due to the local economy and new developments opening up all over the place. When you are looking to buy real estate in Fisherville, getting a condo could be a great option. If you do buy a condo, you need to make sure that you have it properly covered by a full condo insurance policy. There are several things that a Fisherville, KY resident needs to know about condo insurance. 

Valuable Coverage 

Most importantly, you need to remember that you get very valuable coverage from condo insurance. This will include coverage in the event your property is damaged or destroyed and will also include liability coverage. In the event of an accident or unfortunate situation, this could prove to be very helpful for you. A home associations policy will not cover your property.

Likely Requirement

Another factor to remember is that you will likely be required to carry the condo insurance policy at all times. If you took out a loan to buy the condo, your lender will likely want you to have condo insurance to make sure that their collateral is protected. Even if you don’t have a mortgage the condo association will likely require that you have coverage. This ensures that you have liability coverage in the event you cause damage to another condo or the common areas.

Your Kentucky condo is a major asset that you need to properly cover by insurance. When you are trying to cover your condo with insurance, you should reach out to TruePoint Insurance in Fisherville, KY to start the process. The insurance professionals at TruePoint Insurance can help you to better assess your individual risks. We will then help you find a condo policy that will properly cover you and your condo. 

Getting Your Motorhome Ready

When you get that travel itch, the first step is to decide on where you want to venture to, whether that means going to one or multiple areas. Before you actually go on your trip, you must get your motorhome ready for your travels. At TruePoint Insurance, serving Fisherville, KS, and the surrounding region, we have a few simple tips to keep you safe and having fun. 

Update Your Insurance Policy

Before you head out on the road, make sure you update your insurance policy. You would hate to get into an accident and get a fine for not having insurance in addition to the expense of paying for the other party’s property as well as yours.

Check Your Tires

One important step of ensuring your motorhome is roadworthy is to assess the pressure if the tires. You also want to check in the treads for cracks. Since tires vary from one another, if you’re unsure of how much pressure you should put in your tires, you should read your owner’s manual. 

Generator Evaluation 

Sometimes, generators don’t start as well if they’ve been sitting for a prolonged period of time due to fuel not running through the lines. You want to prime your generator. If you don’t have a primer, crank it for about 15 seconds and cycle it to make sure the generator runs. Next, you should run the pump. Generally, you only need to for about 20 seconds.  

8. Generator:
To get your generator ready, you will need to start it and also check certain functions on it. Getting your generator started can be tricky. Especially if your generator sat for an extended period of time. The lack of fuel in the lines is usually the reason why your generator won’t start. If you have a prime feature, prime your generator until your indicator light turns on for the fuel pump. Run the pump for about 20 seconds to deliver fuel to the carburetor – the generator should start much quicker. If you do not have a prime feature on your generator, you will have to crank it until it starts. Let the starter rest to cool after about 15 seconds of cranking. Cycle the starter until it runs. Check the oil levels and filter also. 

Learn more about getting your motorhome ready from TruePoint Insurance, serving Fisherville, KY, and the general vicinity, by visiting our website.

 

 

 

Lesser Known Benefits of Renters’ Insurance

Most people know that renters insurance covers damage to your belongings in a rented house. For example, if the home catches on fire, the insurance policy pays to replace items that are damaged or destroyed. But there are many other benefits associated with renters insurance that you may not be aware of. Here at TruePoint Insurance, serving the Fisherville, KY area, we want you to know all that renters’ insurance can offer you. Here are three of the lesser-known benefits of renters insurance. 

Pays Living Expenses After a Disaster

One of the benefits of renters’ insurance is that it pays for any extra living expenses you may incur following a disaster. If your rental home floods, you may be unable to live there until it is cleaned up. Renters’ insurance will pay the difference between your rent and the cost of other living arrangements, such as a hotel. 

Covers Certain Legal Expenses From Being Sued

If someone is injured while visiting the condo, home, apartment or townhome you are renting, they may try to sue you. One of the lesser-known benefits associated with renters’ insurance is that the insurance will cover your legal expenses in these types of lawsuits. 

May Cover Damage You Accidentally Cause

The final benefit associated with renters’ insurance is that the policy may cover some types of accidental damage you cause to the rental property. Perhaps you accidentally start a small kitchen fire while cooking or hit the garage door while pulling into the driveway. Renters insurance covers the damage, protecting you against the homeowner coming after you for the money. 

Are you ready to purchase a renters’ insurance policy in Fisherville, KY? Here at TruePoint Insurance, we would love to help you. Call us today for a no-obligation quote. 

Basic Maintenance Tips to Keep Your RV Comfortable

Your RV is a passport to freedom and adventure. However, the rigors of the road can take its toll on your vehicle’s exterior, interior, and systems. Use these tips to ensure your RV stays comfortable, no matter how long you’re on the road.

  • Protect your paint job by parking your RV in covered areas as often as possible. A carport or tarp protects your rig from wind, rain, and sun while it’s stationary. These solutions also make it easier to control the internal temperature in your RV so your climate control devices drain less life from your generator.
  • Take your RV to an auto detailer in between long trips. A professional cleaning will remove dirt and stains from your upholstery and interior surfaces. In between stops, use a small hand vac to keep dust and crumbs under control.
  • Pack cleaning supplies before each outing. Include a stain removal product, upholstery brushes, and soft cleaning cloths. These will help you deal with messes before they become built-in stains.
  • Make sure your insurance policy is up-to-date. A break-in or minor accident could cause a lot of damage. Having the right policies in place ensure you can get needed repair right away. Talk to the agents at TruePoint Insurance for information on RV policies in the Fisherville KY area.
  • Have your rig thoroughly checked by a professional before longer trips. This includes the electrical and plumbing systems. For fully contained rigs, have the technician access the state of your generator and power distribution equipment.
  • Maintain your water systems with the right chemicals. Black and grey water tanks often need additives to prevent the growth of harmful buildup and ease the flow of discarded water. Talk to your automotive technician for recommended products for your RV.

Before you hit the road, make sure your rig is covered from all ends. An RV policy from TruePoint Insurance is the best way to protect your Fisherville, KY RV. Contact us for a free quote today.

Motorcycle Safety Starts With Motorcycle Insurance

Fisherville, KY is known for its beautiful weather. Whether you’re visiting or living in the area, you are sure to enjoy any of the four seasons. During the warmer weather, there’s nothing better than exploring Fisherville by taking a motorcycle ride. Regardless of the time of year that you’re riding, though, it’s pertinent to be as safe as possible. TruePoint Insurance is here to keep you as safe as possible when riding your motorcycle, which is why we’d like to share a few safety tips with you. 

Always look both ways

Motorcycle drivers and riders have to be extra careful when coming to intersections. Even when all other drivers on the ride are being safe, it’s still quite easy not to see a motorcycle. This is why you as the motorcycle driver should take extra precaution when going through an intersection. Even if you have people behind you waiting to turn or go through, make sure to take an extra second or two to look both ways several times before you go through the intersection. 

Get motorcycle insurance

Motorcycle safety also includes having proper insurance. To hold insurance on your motorcycle, you will need to provide proof that you have a legit motorcycle driver’s license or permit. It’s during your training to get a motorcycle driver’s license that you will learn the ins and outs of motorcycle safety. 

If you would like to learn more about the many ways you get to stay safe on a motorcycle, make sure to contact TruePoint Insurance serving the Fisherville, KY area. Our agents are ready to keep you safe while meeting all of your motorcycle insurance needs. 

 

What type of valuation is best for your home

When you buy a home whether it is your first home or forever home, it is a major investment. For most families, it is the largest investment they will ever make. It needs to be protected so that you will always have a roof over your head, a place to call home. If your house is destroyed in a fire or other disaster, you want to be sure that you will be able to rebuild, to replace what you had before it was destroyed. 

Before closing on your new home, it is wise to spend time reviewing the home insurance options available to you.  TruePoint Insurance in Fisherville, KY can help you understand the different ways that your home can be evaluated.

Market Value

The market value is what your home would have sold for before it was destroyed or damaged. While it sounds like it is a good deal it is a more expensive option because this valuation includes the price of the land that your house is sitting on.

Replacement Cost

Replacement cost is exactly what it sounds like, your policy would replace the house at the current cost to rebuild including labor. The drawback of this type of valuation is that they have a ceiling which is an amount that the value cannot go above. Some policies have what is called an extended replacement cost that can add an additional percentage to what can be collected.

Actual Cash Value

With actual cash value, if your home is destroyed, the age of the damaged items is taken into consideration. If your windows are warranted for 20 years and you have had them for 15 years, you will not get the cost you paid or even what they would cost to replace today, you have used 75 percent of their value so you would receive 25 percent.

If you live in Fisherville, KY you have the experiences agents at TruePoint Insurance to guide you through the type of home insurance policy that is best for you. Stop by their office or give them a call before you make that all important decision.

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Is Flood Insurance Only Available Through FEMA?

Your home is not automatically covered by flood insurance

Insuring yourself against flood risk is a little different than other insurance policies. Many people mistakenly assume that they have flood coverage through their Fisherville, KY homeowners or renters policy, but they don’t. In order to protect yourself from flood risks, you need a specific flood insurance policy to cover related losses. While you can purchase federal flood insurance through an insurance agent, most flood insurance policies are administered through the National Flood Insurance Program (NFIP) and can be purchased by homeowners, businesses, and renters from an insurer who contracts with FEMA.  


 

What Does Federal Flood Insurance Cover? 

The maximum flood insurance coverage amount is $100,000 for the contents of your home and $250,000 for damage to the structure. Commercial flood insurance through the NFIP provides up to $500,000 for your building’s materials and $500,000 for damage to the structure. You can also buy what is known as “excess” coverage beyond the limits offered through NFIP through private insurers. Flood insurance coverage for the contents of your home and damage to the structure is sold separately. Coverage for personal property only applies to its cash value basis, whereas buildings are covered for replacement cost. 

Federal flood insurance will cover direct physical losses caused by flooding and losses resulting from flooding-related erosion. For flood loss coverage for cars, ask your TruePoint Insurance representative for information about optional flood coverage through the comprehensive portion of your standard automobile insurance policy. 

Buying flood insurance 

Need flood insurance?  Buy flood insurance from truepoint, If you have a mortgage and your home is located in an area that has been identified by FEMA as a flood zone, chances are, you have been notified that you need flood insurances.  If not consider review the previous link regarding who needs food insurance.  If you would like additional information, one of our agents will be more than happy to assist. 

When buying flood insurance coverage, remember that almost 100 insurance companies offer NFIP policies. It’s easy to purchase. You can purchase a Federal flood insurance policy directly from an insurance professional. However, it does require a waiting period of 30 days before the policy takes effect. 

Flooding can occur at any time and threaten your Fisherville, KY home, so don’t wait until the last minute to purchase it. Call TruePoint Insurance today for more information about protecting yourself from the risks of flooding. 

Do you need flood insurance? Learn more about the people insured by the National Flood Protection Program.

Term Life Insurance and invest the rest

At TruePoint Insurance, agents help the residents of Fisherville, KY find insurance that meets their unique needs.  We approach the client’s life insurance needs in the same manner.

Term life is an excellent choice for individuals who want to make sure that their final expenses are covered. It’s also an option if you want to have the policy mature within a specific period. A term life policy offers a variety of benefits that other types of life insurance don’t.

Specific Time Frame

Term life insurance is written for a specific number of years. Each payment is used to add equity to the policy until it matures at the end of the designated term. Term life policies can be written for 10, 20, or 30 years, depending on how big the plan is and how much you want your monthly premiums to be.

While Life and Universal Life Build Equity, Term Life DOES NOT

Whole and universal life policies are often referred to as permanent life insurance. The term permanent life relates to the fact that these policies do not have an expiration.  In addition, the permanent policy develops equity which continues to grow as you make payments.  

While the cash value grows slowly at first,  once the equity has reached a certain amount, you may have the option to borrow against it. This is an excellent option if you have an emergency when you need access to cash. You can then pay the loan back by paying an additional payment every month.

The drawback to permanent policies:  A Significantly Higher Premium

Lower Payments

The fact that term insurance policies don’t guarantee to ever pay the a penny is a negative for many. To answer the question of term or permanent life insurance you should start by asking yourself two questions: 1) As your progress through the various stages of life, will your life insurance needs change? 2) Is a permanent life insurance policy the best investment vehicle available to you?

It is a common belief that young families receive the greatest benefits of life insurance. There are many reasons that support this argument. While this age group is least likely to collect from a term insurance policy, the risk of not having protection is by far the greatest.

Young couples have may have a lot of balls in the air. Couples with children have legitimate concerns regarding their wellbeing should something happen to one or both of the parents. Increased demand for insurance among young couples can also be magnified if one spouse is the primary breadwinner.

The inflated insurance demands will in many cases be short lived. As children leave the nest insurance needs decline. Over time savings increase, further reducing the demand for life insurance.

It is normal that insurance needs are greatest for young families. It is also normal that young families have less disposable income. The lower premium associated with term life is often a much better fit for families that are just getting started,

While the primary benefits of a term policy is the lower monthly premiums Permanent polices act as both an investment vehicle and an insurance policy.  For years the relative value of Term Life has been debated.  Proponents argue that consumers should buy life insurance from companies specializing in such and allocate investment monies to those providing professional investment services.  For years the call to action for this group has been ” Buy term and invest the rest.”

If you live in the Fisherville, KY area and have questions concerning term life insurance, call the agents at TruePoint Insurance and schedule an appointment. They will go over all of your questions and make sure you have the answers you need to make an informed choice.

Do You Need Commerical Insurance For A Business Providing A Service?

If you are the owner of a business that provides services to clients or the public, you may wonder if you need insurance, especially if you operate from home. All businesses that provide a service should have some level of coverage, even if it is liability coverage.

Businesses Providing A Service

If your company or organization provides a service to people, you need protection. You never know when you or someone you work for will be injured or suffer a loss. You can be held accountable for any incidence, and it can cause financial devastation without the right coverage for your market. Some businesses that need reliable coverage include lawn services, repair services, home health, in-home daycare, and more. Speak with an insurance expert to find out what type of coverage suits your business needs and make sure you don’t have costly gaps.

Working With An Expert

Always choose an agency that has expert agents when it comes to commercial insurance. They will help you find security and peace of mind with high-quality insurance products that protect you from a variety of dangers an potential threats to you and your business. If you live around the Fisherville, KY area, you can trust TruePoint Insurance to guide you in the right directions and present options that you need.

Don’t take chances if you provide a public service. Something could happen at any time and can jeopardize your career and your financial situation unless you have the right insurance coverage. Call or stop by TruePoint Insurance, proudly serving the residents in and around the Lawrence and Fisherville, KY area. We will work with you to find a policy that fits your situation and answer all of your questions.