Category Archives: Education

What to do if you need to file a renter’s claim

Filing a renter’s claim is not all that different than filing a homeowners claim. The key to both is advance preparation. So let’s rewind and discuss what you should do before damage happens. Once you have purchased homeowner’s insurance review the claim process with your agent. Most insurance companies provide information to the homeowner with instructions for filing a claim. Review this information and put it in a place where you can easily find it in case something does happen.

This is important because insurance companies all have different procedures. But they all have some things in common. First, file your claim as soon as possible. Delaying this step could lead to issues. So, if your insurance provider has a 24-hour hotline, call as soon as possible. This will put the claim wheels in motion and lead to a faster resolution.

You will be assigned a claim number and agent. The claim agent may come to your home to assess that damage and ask for more details about the incident. Be prepared to have receipts or any supporting details that the claims agent asks for. The claims agent will assess the damage and help with the process of repairs. Often times claims agents have preferred vendors that will repair the damage. Using these preferred vendors often provides many benefits. They are generally very responsive, and they guarantee with work.

The more prepared you are before an accident occurs, the better prepared you’ll be to file a claim and provide the information required to process your claim. That means understanding the claims process for your insurance company. Review the process with your agent and ask questions. You’ll be glad you did.

To learn more about renters insurance and the claims process for your insurance carrier, contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.

Tree Falls On House

Who’s responsible? Weird insurance scenarios that really happen.

Neighbors tree falls on your house.

So let’s say there is a bad thunderstorm and the strong winds take a large branch from your neighbor’s tree and it falls on your house, damaging the shingles and the gutter. Who is responsible? First a couple questions need to be answered. How did the branch fall? In this case it was a storm. Second question. Did the branch fall due to neglect? In other words, was the branch dead and did your neighbors know about it. Let’s assume the tree was healthy. Therefore there is no “blame” so your homeowner’s policy would cover the repairs to your house (minus the deductible).

If however, your insurance company saw that the tree was dead or dying and could prove your neighbors neglected the tree or refused to have it pruned, then your neighbors insurance policy would cover your damage.

Driver crashes into my house.

Let’s start with the number one rule concerning vehicle accidents: The party at fault is liable for any damages caused by that accident. So, if a vehicle crashes into your home, and the crash was the driver’s fault, then he or she is on the hook for the damages caused to your home (or any other property, for that matter). So unlike the tree branch that falls from your neighbor’s tree, an auto accident on your property is someone else’s fault.

This is where the property damage clause of an auto policy comes in to play. And it makes sense, doesn’t it? Damage to your home is damage to your property, right? So, the property damage coverage in a driver’s auto policy will pay for any repairs that need to be done on your house.

Kids damage a parked car.

Let’s say your car is parked in the driveway or even on the street and some kids are playing nearby. They accidently throw a baseball at your car and it smashes a window? Who covers the damage? It is damage to your car, so is it auto insurance? But you didn’t do anything, and the kids don’t have auto insurance. This likely falls to the parents of the children and their homeowner’s policy. Typically, most homeowner policies provide coverage for miscellaneous accidents that occur near the home.

To learn if you have the appropriate insurance, contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.

Home Theater

Does my home insurance cover my computers / instruments / jewelry?

Home owners insurance is designed to cover the structure of your home and the possessions within your home against destruction or loss. But the degree of coverage varies from policy to policy and by insurance provider. So the short answer to this question is yes. But you have to understand your policy to know what is covered and for how much.

Limits on specialty items.
Most policies will cover furniture and common possessions without much exclusion. However, if you have a rare antique or a very expensive sofa, it’s worth discussing with your agent to ensure you are protected. Also, things like collectibles, jewelry and electronics are limited in coverage – sometimes at very low limits. Again, the best plan is to discuss your possessions with your Provident Insurance agent. Create a list of all your unique possessions. Computers, musical, jewelry, artwork, etc., are all things you should itemize and have appraisals for so you can insure them properly.

Ultimately, the insurance company wants to be able to prove you own these things. An expensive grand piano isn’t an easy thing to fake. So if you had a fire and your grand piano was destroyed, chances are there would be remnants of its existence. But an expensive oil painting may be destroyed completely. So would a rare guitar or some gold jewelry.

Inventory your stuff.
Go through your home and inventory your possessions. List all your expensive items and if you don’t have appraisals for them. Get them. Another good idea is to create a video of the contents of your home. Use a camera or your smart phone and simply take a quick tour of your home, highlighting furniture, paintings and electronics. Then save this video in a safe place – like a cloud-based archive.

To learn if you have the appropriate insurance, contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.

Underinsured

Are you underinsured?

Understanding how much insurance to have can be challenging. Let’s try to simplify things so that it’s easier to understand and even easier to buy. The ideal outcome is finding coverage that’s just right.

Insurance is all about protecting your assets. Yes it covers car damage and house damage, but at the end of the day, insurance is to help protect you from a large financial loss – one that could be catastrophic to your personal finances. So, insurance coverage isn’t just about what you own, it’s about covering what other people own too. Take auto insurance for example. Not only do you want to make sure you cover your auto’s value, but you need to make sure you have enough insurance for someone you may hit. Indiana requires a minimum of $10,000 insurance for other people’s property, but what if you hit a brand new BMW and it’s a total loss? If you only have the minimum insurance, you have to pay the difference. Do you have $40,000 or more to pay out of pocket? So that’s where insurance comes in.

Homeowner’s insurance is a bit more straightforward, but just as easy to underestimate. For the most part, you want to cover the replacement cost of your home and your home’s contents. Umbrella policies are available to cover accidents and injuries that may occur on your property. One thing with homeowner’s insurance is to make sure all of your possessions are covered. Many policies have limits on things like jewelry, computers, and electronics. Be sure to describe these items in detail when shopping for insurance. Your Provident agent will be sure to recommend the best coverage for your possessions.

In the end, insurance serves a purpose. It is designed to save you from large financial losses. If you focus your insurance dollars on protecting you from the biggest possible threats, then you can save money in the long run. If you’re looking for ways to save, consider a higher deductible. That way you can have the necessary protection, without paying as much in premiums…but if you do have a loss you will pay a little more out of pocket. Say, $1000 instead of $500. But that $500 difference is minimal compared to the thousands you’d pay if you’re underinsured.

To learn more about ways to save on your insurance, contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.

Renter's Insurance

Do I need renters insurance?

If you rent a house, apartment or condo you should definitely consider renter’s insurance. The landlord is usually never responsible for your personal possessions if there is a loss from theft or damage, such as flood or fire. Like homeowner’s insurance, it’s important to insure the replacement value of your possessions including furniture, clothes, jewelry, electronics, etc.

It’s also good to know what would happen if you have to live somewhere else temporarily. For example, what happens if there is a flood? Does your landlord provide temporary housing? If not, your renter’s insurance should cover that too.

Renter’s insurance also protects you from damage you cause. Let’s say you leave the stove on and it causes a small fire, resulting in $5000 damage. Since it was your fault (even though it was accidental), you are responsible for the damages. The idea of coughing up five grand is serious business. If you had renter’s insurance you’d only be responsible for the deductible – usually $250 – $1000, whichever you choose.

So, as with all insurance, renter’s insurance does 2 things. It pays to replace your stuff and it protects you from large, painful payments for damage you cause. If you want to know more about renter’s insurance contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.

If I have a car accident, what should I do?

First, do this:

  • Take a deep breath and stay calm.
  • Check for injuries; with you and your passengers.
  • If accident is minor, move cars to a safe place, out of traffic. If it is a major collision, and you feel you can exit the vehicle, do so slowly and with caution.
  • Turn on your vehicle’s hazard lights and use cones, warning triangles or flares for safety.
  • Call the police, even if the accident is minor.
  • If you have time, call your insurance agent immediately.

Other Important Tips

  • A police officer will take a statement from all parties. It is NOT THEIR RESPONSIBILTY TO ASSIGN FAULT. Don’t argue, don’t try to convince the officer. Just report the facts. And, do not sign any document unless it’s for the police or your insurance agent.
  • Make immediate notes about the accident, including specific damages to all vehicles involved, witness information, etc. If you can take photos with your phone, it’s good to show the other vehicles and the location of vehicles BEFORE they are moved.
  • Photo graph other car’s license plates before they are moved – and if it safe!
  • Be polite, but don’t tell anyone the accident was your fault, even if you think it was.
  • State only the facts, and limit your discussion of the accident to the police and your insurance agent.
  • If possible, don’t leave the accident scene before the police and other drivers do.

Questions? Contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.

Don't Skimp On Insurance

Can you afford to skimp on insurance?

Most insurance policies are comprised of many elements. Each element can contribute to the total cost of insurance. So on the whole, you do not want to skimp on insurance. But there are ways to reduce your costs based on your priorities and your needs. Where you absolutely don’t want to skimp is on those elements that are affected by a third party.

For instance lets say you cause an auto collision and a person in the other car is injured. You are protected by the Liability element of your auto insurance. However, if you skimp here and you are sued, good luck. People can survive financially if their car is totaled, but it may be very difficult to survive financially if you are sued and your assets and wages are attacked in the lawsuit.

But you may be able to reduce the cost of other elements of your auto policy. Comprehensive and Collision elements may be reduced to help save money. If something happens, you may have to pay out of pocket, but these are typically not costs that can ruin someone financially.

There are also ways to reduce the cost of your homeowner’s insurance without skimping on the important stuff. Your home is probably your single largest investment, so there is a lot to protect. So maybe you just need to raise your deductible? A higher deductible means you pay more out of pocket at the time of a claim, but it won’t ruin you financially. Moving from a $500 deductible to $2000 could save you thousands of dollars over the life of your policy. You should also review what exactly is covered to see if there is a way to reduce the cost even more. Most policies accommodate a variety of personal possessions. Perhaps you don’t even own something that is covered and can have it removed from the policy to reduce the price.

The bottom line is this. Insurance serves a purpose. It ultimately is designed to save you from large financial burdens. If you focus your insurance dollars on protecting you from the biggest possible threats, then you can save money in the long run.

To learn more about ways to save on your insurance, contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.

What is covered in my homeowner’s policy?

The answer to this question varies. The best way to address this is ask your agent. They will outline all your coverage with you. But in general, most homeowner’s insurance covers these categories:

  • Coverage for the structure of your home.
  • Coverage for your personal belongings.
  • Liability protection.
  • Additional living expenses in the event you are temporarily unable to live in your home because of a fire or other insured disaster.

1. The structure of your house

This part of your policy pays to repair or rebuild your home if it is damaged or destroyed by fire, hurricane, hail, lightning or other disaster listed in your policy. Most standard policies also cover structures that are detached from your home such as a garage, tool shed or gazebo. If you need more coverage, talk to your insurance agent about your needs.

2. Your personal belongings

Your furniture, clothes, electronics and other personal items are covered if they are stolen or destroyed by fire, hurricane or other insured disaster. Coverage varies and many policies have limits for specific items such as jewelry and computers. The best way to determine if this is enough coverage is to conduct a home inventory.

3. Liability protection

Liability covers you against lawsuits for bodily injury or property damage that you or family members cause to other people. It also pays for damage caused by your pets. So, if your son, daughter or dog accidentally does damage to your neighbor’s property, you are covered. However, if they destroy your property, you are not covered.

4. Additional living expenses

This pays the additional costs of living away from home if you cannot live there due to damage from a fire, storm or other insured disaster. It covers hotel bills, restaurant meals and other expenses, over and above your customary living expenses, incurred while your home is being rebuilt.

Again, the best way to know what is covered is to ask your agent. Provide them with a list of questions about all your property to ensure it is covered.

To learn more, contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.

Evaluate Your Insurance Policy

How often should I evaluate my insurance policies?

A regular review of insurance is a good idea, however different insurance may require different intervals of review. For example, it’s a good idea to review auto and homeowner’s insurance on an annual basis. Or, and this is important, if you make a change in what you drive or where you live. Buy a new car? Time to review. Buy a new house? Time to review.

When reviewing your car insurance, consider your current circumstances. Do you drive the same amount that you did when you first got insurance. Are your driving habits the same? If you’re not driving much you may be eligible for special discounts from your car insurance company. The amount of the discount (and the number of miles that you need to stay under) will vary from company to company and from policy to policy.

Homeowner’s insurance is more apt to change due to growing families and added possessions. Kids, pets, pools, room additions can change your insurance needs. Did you buy a new TV? Add a second computer? Inherit a piece of art? Each of these things are worth evaluating against your current policy. The good news is that insurance can be changed (increased or decreased) at any time. You’ll either pay more or even get a refund based on your policy changes. So while it’s good to review annually, you can always make adjustments as they occur.

Life insurance is also worth evaluating on an annual basis. Look at changes in your health, your life or within your family. Do you have another child to protect? Did you lose your job? Life circumstances will affect the coverage you need and it’s worth discussing.

To learn more, contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.

Lower Your Insurance Costs

10 easy ways to lower your auto and home insurance costs.

First, let’s tackle car insurance. Here are some tried and true ways to lower the cost of owning an automobile.

  1. Drive less. The more you drive the more your chances for an accident. So, insurance costs are less for those who drive less. If you can combine trips for errands, or carpool to work, you can save on insurance.
  2. Set higher deductibles. The more you are willing to pay in the event of an accident, the less you will pay month to month. Typically, deductibles range from $0 to $1,500. If you can swing a higher deductible, you can save big.
  3. Take a defensive driving course. Typically, teenage drivers and seniors take these courses, but any driver may benefit from taking one and it may save you some $.
  4. Use that garage. It may be handy for storing all that stuff you haven’t used in years, but it’s most effective for keeping your car safe. Garages can reduce your cost of insurance.
  5. Be a safe driver. Most all insurance companies reward safe drivers with clean driving records. That includes speeding too, so watch your speed and save!

Now for homeowner’s insurance.

  1. Make your home safer. Here are some things you can do now to help reduce your insurance premiums:
    • Secure your doors and windows with dead bolts and strong locks.
    • Install a security system with an outside signal and connection to local polices.
    • Install and maintain smoke detectors.

    • Install a fire alarm that automatically alerts the local fire department.
    Safety is always a good thing, but consult your independent Provident Insurance agent to be sure safety upgrades will lower your costs.

  2. Don’t smoke. Generally, non-smokers qualify for lower homeowners insurance premiums than smokers. If you’re a non-smoker, then be sure to ask for any available discounts.
  3. Bundle Policies. Merge all your policies with one provider. You may have found better rates on each individual policy by shopping them around, but it’s often more affordable to bundle them all with one company.
  4. Increase the deductible on your policy. In many cases, a higher deductible means a lower premium. It also means paying more out of pocket in the event of a covered loss though. Talk to your Provident Insurance agent so you can determine the best balance for you.
  5. Insure the replacement value only. You may have paid $250,000 for your home, but it may not cost that much to rebuild it. The land your home sits on has some value, so subtract that from the equation. Likewise, the market value may be more than the cost to rebuild – this is common in popular coastal areas or even high-demand neighborhoods with good schools. So only pay what it costs to replace…not what you paid or what it’s current market value.

To learn more, contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.