Lesser Known Ways to Prepare Your Car for a Road Trip

Before heading out on a lengthy road trip, it is recommended that you get an oil change, have your fluids checked, inspect your tires, and have your belts and hoses inspected. This can help minimize your chances of being in an accident or encountering car problems. Here at LG Insurance Group, serving the greater Marietta, GA area, we want to help keep you safe when traveling this summer. Here are a few lesser-known ways to prepare your car for a road trip. 

Have Your Battery Tested

Before hitting the road, always have your battery tested. This helps to ensure that your battery has a reasonable charging capacity and is in good shape. If your battery indicates it has a low charging capacity, you should replace it before your road trip. 

Check Your Lights and Signals

Another thing that you should do before a road trip is to check your lights and signals. You want to ensure all of your lights and signals work, and if they don’t, you want to replace the bulbs so they function correctly. 

Ensure Your Spare Tire Is In Good Shape

Lastly, you should always check the condition of your spare tire before going on a lengthy road trip. You want to ensure the spare tire is properly inflated and in good, usable condition. 

If you are planning on going on a road trip this summer, you are not alone. Millions of people are expected to travel via automobile during the summer months. Preparing your car is one of the things you can do, as is ensuring you have automobile coverage that protects you and your vehicle. Here at LG Insurance Group, serving the Marietta, GA area, we can help you with all your auto insurance needs. Call or email us to learn more. 

Four rules to follow when you purchase flood insurance

Choosing flood insurance coverage is a crucial decision you’ll make as a homeowner. If you’re in the market for flood insurance for your home in Marietta, GA, we can provide you with insurance at LG Insurance Group. 

Here are four essential rules to follow when purchasing flood insurance for your Georgia home. 

Get quotes from a few flood insurance providers.

You can contact different insurance providers and request policy quotes as part of doing your flood insurance research. With numerous quotes, you can compare different premium amounts and policy offerings. This will make it easier for you to make the best possible choice regarding your flood insurance coverage. 

Understand what the flood risk is in your area.

You should know your flood zone and how likely flood damage is in your area. This can help you evaluate the different quotes you can get and determine what a competitive flood insurance premium is in your area. 

Consider updates you can make that protect your home from flood damage

Numerous home improvement projects can minimize your home’s risk for flood damage. For example, you can have a sump pump installed or grade your lawn in such a way that water is less likely to flow toward your home. 

Making such updates protects you from flood damage and can bring down your flood insurance premiums costs. 

Try to get enough coverage to cover your home’s total value

You want your flood insurance to fully compensate you for your home’s value if your home is destroyed in a flood. That’s why you should get full coverage for your property if possible.  

Following these rules will give you more confidence in your flood insurance selection. When you’re looking for policy quotes, visit our website or call us at LG Insurance Group. We’re here to provide quality flood insurance to homeowners in Marietta, GA. 

The Importance of Carrying RV Insurance Even When Your RV Is Not Being Used

One of the biggest misconceptions that we at LG Insurance Group, an insurance company providing RV insurance in the Marietta, GA area, have heard is that you do not need RV insurance if you are not using your RV. As such, many people drop coverage on their RV when they do not plan to travel for prolonged periods, such as during the winter. However, carrying RV insurance year-round can be beneficial even if your RV is being stored. Here are a couple of the reasons why. 

RV Insurance May Protect Your RV When It Is Being Stored

RV insurance coverage helps protect you in case your RV is damaged while being stored. If a tree limb falls on the RV, someone vandalizes the RV, or the RV floods, your RV insurance policy may help to cover the cost of the damage done to the RV. Issues can arise, even when your RV is being stored. 

RV Insurance Allows You to Travel When You Want

Another reason why you should carry RV insurance is so that you can use your RV at all times. You may not be planning a trip anytime soon, but you never know what could happen. The weather may be perfect, and you may want to take a quick trip. Having RV insurance ensures you can always operate and move your RV. 

If you do not have insurance coverage on your RV, are looking to purchase a new RV, or are interested in a new RV insurance policy, the insurance agents at LG Insurance Group, serving the greater Marietta, GA region, would love to help you get the perfect RV insurance policy. Reach out to us today to learn more.

Understanding Insurance Loss Valuation Options

Insurance can be a confusing topic, especially when it comes to understanding the different types of coverage and their associated terms. One area that often causes confusion is the difference between actual cash value, replacement cost, stated value, and agreed value. In this blog post, we’ll break down each term to help you better understand your insurance coverage.

Actual Cash Value

Actual cash value (ACV) is the fair market value of an item at the time of loss. It takes into account the item’s age, condition, and depreciation. In the event of a covered loss, the insurance company will typically pay out the actual cash value of the item, which means you may not receive enough money to replace the item with a new one. For example, if you have a 10-year-old TV that is damaged in a covered loss, the insurance company will pay out the current market value of a 10-year-old TV, not the cost to replace it with a new one.

Replacement Cost

Replacement cost is the amount of money it would take to replace an item with a new one of like kind and quality. Unlike actual cash value, replacement cost does not take into account depreciation. In the event of a covered loss, the insurance company will typically pay out the replacement cost of the item, which means you will receive enough money to replace the item with a new one. For example, if you have a 10-year-old TV that is damaged in a covered loss and you have replacement cost coverage, the insurance company will pay out the cost to replace the TV with a new one of like kind and quality.

Stated Value

Stated value is a term used in insurance policies for items that have an agreed-upon value between the policyholder and the insurance company. For example, if you have a classic car that is worth $50,000, you and your insurance company may agree on a stated value of $50,000 for the car. In the event of a covered loss, the insurance company will pay out the stated value of the car, regardless of its actual cash value or replacement cost.

Agreed Value

Agreed value is similar to stated value in that it is an agreed-upon value between the policyholder and the insurance company. However, with agreed value coverage, the value is typically determined at the time the policy is written, and it cannot be changed during the policy term. This means that if the item’s value increases or decreases, the agreed value will not change. Agreed value coverage is often used for items that are difficult to value, such as antiques or art.

In conclusion, understanding insurance terms such as actual cash value, replacement cost, stated value, and agreed value can help you make informed decisions about your insurance coverage. It’s important to review your policy and speak with your insurance agent to ensure you have the appropriate coverage for your needs. Contact LG Insurance Group if you need assistance understanding your coverages or other available options.

Does Motorcycle Insurance Cover Other Riders?

Before you let someone borrow your motorcycle in Marietta, GA, know how your policy works and what is covered. Understanding the details of your motorcycle insurance plan from LG Insurance Group can help ensure that you are adequately protected if an accident occurs while someone else is riding your bike.

What Is Covered Under Motorcycle Insurance? 

The primary purpose of motorcycle insurance is to provide financial protection in the event of an accident or other mishap. Generally speaking, your policy will cover the costs associated with these situations if you are injured while riding your bike or if your motorcycle is damaged due to an accident, theft, or vandalism. However, the coverage may change depending on various factors when it comes to other riders—particularly those who don’t have their own policy. 

In most cases, motorcycle policies will cover other riders who have permission from the owner (you) to operate the bike. This might include family members or close friends who only occasionally ride the bike for recreational purposes. However, some insurers may require additional coverage for another rider to be protected; it all depends on the terms and conditions of your particular policy. Additionally, it’s important to note that anyone operating a motorbike without permission from the owner could still be held liable for damages resulting from an accident—even if they don’t have an insurance policy. 

When deciding whether or not to add another rider to your motorcycle insurance policy in Marietta, GA, it pays to do your homework first. Contact LG Insurance Group today for more information about adding another rider and related questions regarding motorcycle insurance policies! They will happily answer any questions about insuring another driver on your bike!

How does a percentage deductible on my homeowner’s insurance work?

A percentage wind hail deductible is a type of insurance policy deductible that is commonly used in areas that are prone to severe weather events, such as hurricanes, tornadoes, and hailstorms. The deductible is the amount of money that the policyholder is required to pay before their insurance coverage kicks in. With a percentage wind hail deductible, the deductible amount is calculated as a percentage of the insured property’s total value (dwelling limit), rather than as a fixed dollar amount.

For example, if a homeowner has a wind hail deductible of 2% and their home is insured for $500,000, then their deductible amount would be $10,000. If their home sustains damage from a hailstorm that costs $20,000 to repair, the homeowner would be responsible for paying the first $10,000 (the deductible), and the insurance company would cover the remaining $10,000.

The percentage wind hail deductible can vary depending on the insurance policy and the location of the property. In areas that are more prone to severe weather events, the percentage deductible may be higher than in areas with lower risk. The deductible may also vary based on the type of damage that occurs. For example, there may be a separate deductible for wind damage and hail damage.

It’s important to note that the percentage deductible applies to the insured property’s value, not the amount of the insurance claim. This means that if the insured property has increased in value since the policy was purchased, the deductible will also increase. It’s also important to understand that the deductible is a separate expense from the insurance premium, so it’s important to factor in the deductible amount when choosing an insurance policy and budgeting for the cost of repairs in the event of damage from severe weather events.

What is ACV or Roof Payment Schedule on my Homeowner’s Insurance?

First a little history to help consumers understand the issues surrounding roof claims and the struggles facing insurers and consumers. At least 15 years ago when severe storms were constantly pounding the Southeast and Midwest, roof claims skyrocketed. There was a time when insurers would typically pay the full loss repairs upfront before any repairs began. Though not necessarily the majority of roof claims, fraud by homeowners and roofing contractors increased dramatically around this time. Some roofs were either left unrepaired after payment but more so, unscrupulous roofers would entice consumers by offering to “pay their deductibles” by inflating their repair estimates or even worse actually creating or worsening damage to roofs to simulate hail damage and causing full roof replacements. These practices inflated claim payouts significantly and insurers responded to prevent even more dramatic increases in homeowner premiums. In addition to separate wind and hail deductibles, insurers changed handling of claim payouts to hold out a percentage of the repair costs until work was completed, increased scrutiny on roof damage, analyzed roof contractor patterns and started adding discounts as well as acceptability guidelines around roof age. State Insurance Departments also aided efforts by tracking some of these issues within their fraud units.

These events led to variations of coverage options within today’s insurance markets. These options vary by insurer, geographic region, roof type and roof age typically. An insurer may allow a consumer with a newer roof to choose between these options, however, if a home has an older roof, the “option” or coverage endorsement may be mandatory for coverage to be accepted by the carrier.

One of these coverage options is referred to as a roof Payment Schedule which outlines the payment calculation for roof replacement costs in the event of a covered loss. In a roof payment schedule, the insurance company specifies the amount of money that it will pay for roof replacement costs, typically as a percentage of the total cost of the replacement. The payment schedule is based on the type of roof, its age, and other factors that affect the cost of replacement.

For example, an insurance company may have a roof payment schedule that states that it will pay 80% of the cost of replacing a 15-year-old asphalt shingle roof. This means that if the cost of replacing the roof is $10,000, the insurance company will pay $8,000 and the policyholder. The policy deductible will also be applied to the final payout as well, which would lower this amount further by either a flat amount or a percentage of your dwelling limit. It’s important to note that the roof payment schedule may be different for different types of roofs and may be subject to certain limitations and exclusions.

A similar option may simply state that a loss involving roof replacement would be determined on an Actual Cash Value (ACV) basis. This would simply equate to a roof that has a 20-year estimated life span would receive a percentage of the replacement cost value depending upon its age at the time of loss. For example, if this roof had significant covered damage when it was 10-years old, then the insurer’s payout would be 50% of the full replacement cost less the policy deductible. Here a $10,000 roof replacement would result in an evaluation of $5,000 less your applied deductible.

The most robust coverage evaluation remains Replacement Cost, which does not account for depreciation. Only the policy’s applicable deductible would apply to the full cost of roof replacement for a covered loss in determining the amount of insurance paid to the consumer. With the same $10,000 roof repairs from above, you would receive the full $10,000 less your applied deductible.

The difference between these different evaluation methods (in combination with your selected wind/hail deductible) could mean a difference in tens of thousands of dollars at the time of loss. How much are you willing to lose in a claim payout for a little premium savings? Weigh your options carefully and understand the implications of policy choices.

Policyholders should always carefully review their insurance policy and all endorsements to understand their coverage, each and every year. Some insurers may change coverage for a roof at renewal. This means that some insurers will initially offer Replacement Cost for insureds with roofs that are 5, 10 or 15 years old, but at a later renewal date when their roof is of a certain age, their coverage could shift to ACV or a Payment Schedule. Be sure to review your policy each and every year. If you would like a coverage or renewal review, be sure to contact us at LG Insurance Group. We are happy to assist you!

Why do I need boat insurance in Marietta?

Those in the Marietta, GA area will likely know the weather is hot during the long summer months. Fortunately, there are a lot of local lakes and waterways that offer a chance to stay cool and have fun. When you live here and want to enjoy the area as much as possible, getting your own boat is a good idea. Along with this, you need to have insurance for it. A boat policy is necessary for various reasons.

Protect Against Risk of Damage

A primary reason someone will want to have coverage for their boat is that it can protect against the risk of damage. If you buy a boat, you will want to use it for a long time. When you have boat coverage, it will offer the support you need to replace or repair it if the boat is stolen or damaged in an accident. 

Offset Liability Risks

You also should consider insurance for your boat as it can help to offset your liability risks. If you choose to operate a watercraft, there is a chance that you could cause an accident. When this occurs, you will want financial resources to cover the damage. If you are not insured with a boat policy, you must pay for repairs out of your own pocket. 

Having boat insurance is always essential if you own a watercraft in the Marietta, GA area. If you want to start looking for this coverage here, it could be wise to begin your search by calling the LG Insurance Group. The professionals with the LG Insurance Group know the value of this coverage and can help you create a plan that will meet your needs. 

Flood Insurance: Do You Need it?

Flooding can happen anywhere, and it’s important to be prepared. While properties located in high-risk flood zones are more likely to experience flooding, it can also occur in areas that are not considered high-risk. Even if you are not in a high-risk flood zone, there are other factors that can increase the likelihood of flooding such as nearby bodies of water, heavy rainfall, and poor drainage. Additionally, if you live in an area that has a history of flooding, it may be a good idea to get flood insurance even if you are not in a high-risk flood zone.

It’s important to note that standard homeowners insurance does not cover flood damage. If your home is damaged or destroyed by a flood, you will need to have flood insurance in order to receive financial assistance to repair or rebuild your home.

When determining whether or not you need flood insurance, it’s a good idea to speak with an insurance agent who can provide you with more information about the specific risks associated with your property. They can help you understand the different types of flood insurance that are available, and help you make an informed decision about whether or not to purchase flood insurance.

Keep in mind that if you have a mortgage on your property, your lender may require that you have flood insurance. Even if you own your home outright, it’s still a good idea to consider purchasing flood insurance as a precaution. It’s better to be safe than sorry when it comes to protecting your home and your family from the financial devastation that can result from flooding.

In conclusion, flooding can happen anywhere and it’s important to be prepared. Even if you are not in a high-risk flood zone, you may still want to consider purchasing flood insurance as a precaution. If you have any doubts or concerns about whether or not you should get flood insurance, contact LG Insurance Group and we can provide you with more information about the specific risks associated with your property and help you make an informed decision.

How much does your At-Fault Accident impact your Auto Insurance Premiums?

The impact of an at-fault accident on your auto insurance premiums can vary widely depending on a variety of factors. Some of the factors that may affect the size of the premium increase include:

The severity of the accident: More serious accidents, such as those involving significant damage or injuries, may result in larger premium increases than less serious accidents.

The amount of damage caused: The amount of damage caused by the accident can also affect the size of the premium increase. If the accident resulted in significant damage to your car or the other party’s car, your premiums may increase more than if the damage was minimal.

Your insurance company’s policies: Different insurance companies have different policies when it comes to handling at-fault accidents, so the impact on your premiums may vary depending on which company you’re with.

Your driving record: If you have a clean driving record prior to the at-fault accident, your premiums may not increase as much as they would if you had multiple accidents or traffic violations on your record.

State laws: Some states have laws that regulate how much insurance companies can increase premiums after an at-fault accident, so the impact on your premiums may vary depending on where you live.

It’s difficult to give a specific estimate of how much an at-fault accident will increase your premiums, as it will depend on these and other factors. However, it’s not uncommon for premiums to increase by hundreds or even thousands of dollars after an at-fault accident.