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Insurance Savings Tips

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Insurance Savings Tips

 

With a “shelter in place” order shutting down almost half of the states nationwide in one form or another & the “economic relief” checks from the government not slated to be sent out for several more weeks, people who were struggling financially prior to the order are struggling even more to make ends meet. Some are turning to eliminating what they deem to be “non-essential” which unfortunately for many is insurance.

As we mentioned on last week’s podcast, the 4 things you should be worrying about covering at this moment in time are:

– Food

-Shelter

-Clothing

-Transportation

Shelter & transportation both have insurance components to them and are essential to make sure that if something does happen to your home/business/automobile that you will be covered and not sink deeper into debt because of the current economic crisis. Here are some ways to help with your insurance during these tough times:

1) Call your insurance company. Many insurance companies are eliminating the cancellation of insurance policies due to non-payment of premium and waiving late fees through the middle of May. This is essentially an extended grace period for payment and not waiver of premium. You owe the money, but are given an extra month or so to make the payments so you can take care of food/shelter/clothing/transportation first.

2) Speak to your insurance agent. Now might be a good time to check your policies and update as necessary. It could be time to park one of your vehicles for the moment, reduce coverage on a vehicle (if necessary), or update coverage on your home. The country is hoping that this crisis is only temporary, so don’t make any “knee-jerk” decisions that may help in the short-term but ultimately harm you in the long-term.

3) Check your policies. Recently Progressive has allowed the use of personal vehicles for food delivery through April. This vehicle use is specifically excluded on their personal auto policies and would require the writing of a commercial auto policy. This benefits those that are becoming short-term delivery drivers (DoorDash/GrubHub/etc.) to make ends meet until the quarantine has been lifted. Look online or call your insurance agent to see if your insurance carrier has offered any coverage for short-term delivery.

4) Don’t cancel your policies. Sure you may save $100 or $200 a month that can be used for other things right now, but it will take at least 2 weeks to receive a refund from many insurance carriers. Driving without insurance is dangerous and in many states illegal & come with pretty hefty fines. Work on the 4 basics of human need and focus on budgeting to get through this.

 

Working together & respecting each other, we will get through this pandemic crisis together.

Contact Us!

At M. Vander Plow Insurance Agency, we can work with you to make sure you’ve got the coverage you need, while at the same time using all possible credits and discounts to make that coverage affordable. Just give us a call at 616-396-1497 or send us a note at mvpinsagency@gmail.com. We want to help you meet your goals, and make sure what’s important to you is protected!

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