What Information Do You Need When Updating a Home Insurance Policy?

You may not realize it, but your home insurance coverage amounts should be updated. Your home value and the price of goods that are used to repair and reconstruct a home are ever-changing. As such, it may cost more to fix or rebuild a home now than it did when you bought your policy, meaning you may need more coverage. If you are looking to increase your policy, you may be wondering what information you will need to have on hand as you call your insurance agent. Here are a few things to have on hand when you are updating a home insurance policy.

Your Policy Number

When you are attempting to make any changes to your policy, it is helpful to have your policy number. Of course, your policy can be looked up without this information, but it makes it a lot easier if you have it on hand.

A List of Renovations You Have Made

When you are making changes to your policy, always prepare a list of renovations you have made to your home since the last time your policy was updated. These renovations can affect the value of your home. So you want to make sure that you notate each one so your home is fully protected.

What Budget You Have for Your Policy

The last bit of information you need to have is what your budget is for your new policy. If you are increasing the policy limits, your premiums may increase. Consider a higher deductible if you do not want your premiums to rise.

Is it time for your to update your Sandy, UT home insurance policy? If so, it is time to contact Smart Way Insurance Agency. Our agency serves those in the Sandy, UT and surrounding areas. Call us today and let us help you get the insurance coverage you need to fully protect your financial interests.

How Does an Underage Driver Affect your Policy?

Everyone knows that adding drivers and vehicles to your policy can change your monthly premiums but what does an underage driver do to your policy? For those in the Sandy, UT area, the agents with Smart Way Insurance can help answer that question. Here are some of the basics.

Underage drivers are almost always considered high-risk drivers. This is because these drivers have less experience than older drivers. Their lack of experience is what often makes their presence on a policy a higher cost. For those that have kids, you are going to pay more to insure them due simply to their age. You will also pay more if you buy them an older car that is lacking in safety features.

Underage drivers are going to affect your policy by adding more cost because they are inexperienced. As they get older, your premiums may reduce, but often they will not see a significant drop until your underage driver reaches the age of 25 at which time they are likely going to be on their policy. You cannot change the sex of your underage driver and as a result, most underage males are going to cost more to insure than underage females.

Long story short, underage drivers make your policy go up more than a driver that is over the age of 25 would but in many cases there is no way to avoid this. The best thing to do is add your driver then work to find discounts that might help to counter the effects of having that underage driver on your policy. For those in the Sandy, UT area, the agents with Smart Way Insurance Agency can help you find discounts that make having an underage driver on your policy seem like nothing special.