Nationwide homeowners’ insurance premiums are on the rise.  The reasons vary, but the majority of the blame falls on the fact that more people made claims.  Last year there were quite a few major storms around this fine country and, unfortunately, a lot of damage was done.

This type of circumstance is exactly what insurance is for.  No one likes to pay money for something they may never use.  But when disaster strikes, it makes an unbearable tragedy bearable.  Homeowners insurance provides peace of mind that if our home is destroyed, at least we will have the money to rebuild it.

But is there anything you can do about the increase in premiums we are seeing?  Yes.  Below are three things you can do that may help you to decrease your homeowner’s insurance premium.

1.  Get quotes from 3 different agencies and make at least one of those agencies a local broker like Western Pacific Insurance.  You have to keep your company honest by periodically shopping around.  Every company has rates go up and down.

2.  Improve your credit score.  This does not apply to all companies as some do not factor that into rating you homeowner’s insurance, but a majority do.  Insurance companies are legally allowed to periodically pull your credit and adjust your rate accordingly.  This does not count as a hit on your credit so I wouldn’t worry too much about that, but I would worry about improving your credit score to save money.

3.  Take care of your home.  The better you care for your home and the more precautions you make, the less likely you are to file a claim.  Those with more claims generally have to pay more for their homeowner’s insurance.

While prices are increasing for homeowner’s insurance nationwide, you might be able to buck the trend by following those 3 steps.  Don’t forget to call us before you do anything!

When applying for a home loan there are many factors that help to decide whether you qualify.  These days they really dig deep into your financial situation to make sure you are able to make the payments.  Your loan officer will need to obtain your credit score, bank statements, pay check stubs, W-2s, your first born child, and more to qualify you for a loan.  When you actually find a property, they’ll probably ask you for more things (like the date of birth and social security number of your dog).

Your DTI, or Debt-to-Income ratio, is an essential component in getting your loan approved.  This is actually the main factor in determining how much home you can afford.  With a home mortgage the DTI is split between two calculations.  DTI with just the mortgage or front-end DTI and DTI with all debts included or back-end DTI.  For example, some conventional loans require a DTI of 28/36.  What does that mean? 

Let’s say you have a salary of $60,000 per year or $5,000 per month.

               $5,000 Monthly Income x .28 = $1,400 allowed for housing expense

               $5,000 Monthly Income x .36 = $1,800 allowed for housing expense plus recurring debt

28/36 is not a universal DTI ratio.  Different companies and other types of loans will require different ratios.  So what does this have to do with insurance?

We work with loan officers and realtors every day.  We help them provide options for their clients and we help them save loans.  As noted above, DTI ratios determine the housing expense that is allowed.  Included in that housing expense is the insurance premium and sometimes DTIs are so close that every dollar counts.  Since we have the best prices on most property insurance, we have saved quite a few loans over the years.

Visit www.wpinsure.com to get a quote on your property insurance to see if we can help save your loan or just save you money.

According to this article, the number of people with 800+ credit scores is at pre-recession levels.  This is good news for those looking to buy things on credit and for those that like to save money in general.  Below are 3 ways having a high credit score will help you save money.

1.  Borrowing money will be cheaper.  If you want to refinance your home, buy a new home, or even buy a car on credit, having a high credit score will allow you to obtain the best financing rates available.  Interest rates for homes and cars are at historically low levels.  Take care of your credit and you can take advantage of those low interest rates.

2.  Insurance rates will be lower.  In many states, nearly all car insurers and most home insurers check your credit history to rate your policy.  The higher your credit score, the lower your rates will be.

3.  Low credit scores usually indicate late payments and overindulgence which will actually increase your costs for the same items.  For example, if you’re late on a payment you usually have to pay a late fee.  Living within your means will help avoid having to pay late fees and service charges.

More Americans with scores of 800+ is a good sign for our country.  It indicates that more people are living within their means and taking responsibility for their actions.  It’s a good idea for all of us to make sure we maintain high credit scores to save money. 

High credit score or not, we can provide the coverage you need at a price you’ll love!  Get a quote online by visiting www.wpinsure.com.

The age-old question of who has it tougher men or women will finally be settled in this blog post.  Up until now, even the most ardent believer in man’s dismal circumstance would have to admit that women these days have to put up with a lot.  In fact, I would venture to say that most would say that men have it easier than women.  But with this new bit of information, many will change their minds.

Men under the age of 25 have to pay a significant amount more in car insurance than women of the same age.  The main reasons are young men get in more accidents, their accidents are more severe, and as a whole have more DUI citations than young women.  While the reasons are many, but the point is pretty obvious:  young men have it much tougher than young women as it relates to car insurance.

Men and women can both save money by requesting a quote online at www.wpinsure.com.

Every kid wants to experiment with fire.  We are all a least a little fascinated by the flickering flames of an open fire.  My brother, in fact, set our neighbors yard and fence ablaze while playing with fire.  Thankfully no one was hurt and the fire was put out before any major damage was done to the actual home.  We obviously don’t want to stifle our kid’s creativity, but putting a damper on our kid’s pyro tendencies is probably not a bad idea.

And since it’s Arson Awareness Week, here are 9 ways you can help prevent children from setting fires. What tips do you have for curbing a child’s curiosity with fire?

http://blog.foremost.com/hot-topic-9-ways-to-prevent-youth-firesetting-for-arson-awareness-week

Gap insurance is not necessary for everyone.  But for those it applies to, it could be a life saver.  If you have a loan on a car, gap insurance would cover the “gap” between the market value of your car and how much you owe on the loan.  For example, say the market value of your vehicle is $10,000, but you still have $15,000 left on your loan.  If you suffer a total loss on your vehicle without gap insurance the insurance company would only pay out $10,000.  That would leave you without a car and a bill for the $5,000 remaining on the loan.  In that same scenario, gap insurance would cover the extra $5,000.

Just because you have a loan on a vehicle does not necessarily mean you need gap insurance.  For example, if you owe $7,000 on a vehicle and it is worth $12,000, you would not need to have gap insurance.  It’s a good idea to monitor the fair market value of your vehicle to determine if gap insurance is right for you.  If it’s close, I would recommend erring on the side of caution. 

For more information on car insurance please visit www.wpinsure.com.

Homeowner’s insurance is easy to forget about.  Usually it is paid through your mortgage so you don’t typically worry about the cost.  It’s also a very rare occurrence when you have to actually make a claim on your home.  Unfortunately, because your homeowner’s insurance is out of sight and out of mind, you may have the wrong coverage and the wrong company.  Below are 3 reasons to review your homeowner’s insurance right now.

1.  You may be paying way too much.  Clients are shocked by the price difference between companies.  It is not uncommon for other companies to be more than double.  In fact I see other companies quote $700 for a property that we can do for $300 every week.  Most people assume that everyone will be within $100, but that is not the case with homeowner’s insurance.  Check with both independent and captive agents to get a good idea of the market in your area.

2.  You may not have the coverages you thought you had.  Read your policy!  That is the only way to know what is covered and, more importantly, what is not covered.  There are limits for certain items.  Some perils are specifically excluded, unless you add them on as an endorsement (i.e. earthquake).

3.  It is extremely easy to switch.  If you find that you are paying too much or have the wrong coverage, it is easy to fix.  If you want to switch, you usually need to submit a cancel request in writing and show proof of your new policy.  The old company will refund the unused premium without charging any fees and you pay for the new policy when the bill comes in the mail.  It really is that easy.  Now to make a change to your existing policy you’ll need to contact your agent.  Your agent will explain what needs to be done, but that is usually a very simple process as well.

Now is the time to review your homeowner’s insurance.  Getting quotes for your homeowner’s insurance can be done from the comfort of your home without taking up too much of your time.  Reading your policy may take an hour of your time, but could save you money and heartache in the end.  If you decide you need to switch companies or add coverage, that process can be very simple as well.  But now is the time to do all this because you never know what tomorrow will bring.

Visit us at www.wpinsure.com to get more information or to get a quote for you homeowner’s insurance.

If there were a plane crash that killed over one hundred people it would be all over the news.  The public would demand answers as to why this tragedy occurred and how we can prevent it in the future.  Thousands of people die in fatal car crashes every year, but you do not hear the same outcry.  There are many reasons for that, but one may be that people don’t want to accept the solutions.  The numbers show that most of those fatalities are due to age, alcohol, or otherwise distracted drivers (cell phone use, sleepiness).  Eliminate young drivers and outlaw alcohol and those fatalities would decrease dramatically. 

Obviously those things are not going to happen.  So what can we do to protect ourselves?  One thing we can do is be informed on the most dangerous times and try to avoid driving or make necessary precautions when we do drive.

What do you think the most dangerous times to drive would be?  My first thought would be January 1^st, but that is not the case.  Below are 3 of the most dangerous times to drive according to the National Highway Traffic Safety Administration.

Each Saturday an average of 158 people die on the road.  Can you imagine if that many died in plane crashes each week? 

August is the month with the most fatalities.  I can’t really figure that one out, but it may have to do with kids going back to school.

July 4^th is historically the most fatal day of the year to drive.  Maybe the reason is that people are being blown up by bottle rockets.  More likely is that people driving home from a friend’s BBQ may have had a little too much to drink.

Thanksgiving weekend is the most dangerous holiday season to be driving.  I would think this one has to do with young drivers on the road home to see family. 

What can we do to stay safe on road these days?  On Saturday, take a cab home from your night out on the town.  The month of August is a mystery to me, but maybe be extra cautious when traffic worsens due to school being back in session.  July 4^th you’ll want to have a designated driver or possibly just stay home and spend the time with your family.  Try having your kids fly home for Thanksgiving weekend.  It may be worth the extra expense.

Whenever you drive, please keep in mind that being a safe driver will not only save you money on your car insurance, but it may also save your life.

For a quote on your auto insurance please visit us at www.wpinsure.com.

Motorcycle Prep Tip 1: Clean the entire engine with a mild detergent and water solution. Remove any metal-protecting agents as well as any plastic or rubber covers from the air box intakes, exhaust pipes and air box drain.

Motorcycle Prep Tip 2: Make sure the battery is in good condition and fully charged, be sure the vent hose is connected and routed properly, drain and replace any oil that was in the engine during storage, lubricate all areas as instructed in the operator�s manual, change the spark plugs and check the engine coolant.

Motorcycle Prep Tip 3: If your bike is chain driven, inspect the chain and drive sprockets for excessive wear or loosening and adjust if necessary. If shaft-driven, inspect the oil level in the final drive unit and make sure it’s filled to the proper level.

Motorcycle Prep Tip 4: Inspect and correct the following equipment after pulling your bike from storage: tires, brake pads and shoes, coolant hoses and brake lines, cables, turn signals, reverse lights, kill switch, horn and headlight. If your bike has hydraulic brakes, check the fluid level and follow the manufacturer’s recommendations.

Motorcycle Prep Tip 5: Before starting your motorcycle for the first time after storage, slowly crank it over with the kick starter and listen for any abnormal noises. Then start it and let it run a few minutes in a well-ventilated area. If anything seems unusual, have your bike checked out by a factory-trained mechanic.

To save money on your motorcycle insurance please click on the lind below and get a quote.

https://www.wpinsure.com/nevada-insurance-quotes/nv-ut-az-ca-motorcycle-insurance-quote