Is The Hartford Advantage Right for You?

The Hartford

As an independent insurance agency, Lakewood Financial represents many quality insurance carriers—not just one. We pride ourselves in finding YOU the best match for your individual insurance needs and financial situation. From time to time, we’ll draw attention to one of our carriers and what they specialize in. This month: The Hartford. 

If you’ve moved to Florida from up north, you’ve probably heard of The Hartford. They have more than 200 years of experience in insurance—in fact, they insured the only home Abraham Lincoln ever owned! The Hartford provides personal lines coverage (home, auto, renters, umbrella) as well as business insurance, such as workers comp or general liability, and employee benefits, like group disability or life insurance. The Hartford specializes in insurance for the 50-and-over age group, and for the past 30 years, they have been the only direct auto and home insurance program nationally endorsed by the AARP.

The Hartford’s Open Road Advantage auto insurance policies offer benefits such as:

  • Lifetime Repair Promise: When you use a repair shop in The Hartford’s approved network, they guarantee the workmanship for as long as you own the vehicle.
  • New Car Replacement Benefit: if your new car is totaled during the first 15 months or 15,000 miles, whichever comes first, The Hartford will pay the cost of a brand new car of the same make and model with no depreciation.

The Advantage Plus program offers these additional benefits:

  • First Accident Forgiveness: If you qualify, your insurance premium won’t go up if you have an accident.
  • Disappearing Deductible: If you stay accident-free, your deductible decreases over time.
  • Optional 12-Month policy term: lock in your rate for a full year if you so choose.

If you’d like to see if The Hartford coverage is right for you, please call us at 941-747-4600 or email us for an auto or home insurance quote. And even if you don’t think they’d be right for you, one of our other quality insurance companies may be just right—call us, and we’ll be happy to help you find coverage that is right for you.

Moving to Florida 101: Registering an Out-of-State Car

Registering an Out-of-State Car

If you’re a new Florida resident, or are thinking of moving to Florida, you may have questions about your car insurance and what steps you need to take to get your vehicle registered. We get a lot of calls from people moving to Florida who have questions about this process, and we’re happy to answer them, and to welcome them to the state.

 

Once you move to Florida, you have 30 days to get a Florida driver’s license, but only 10 days to buy insurance and title/register your vehicles. Where should you start? Before registering an out-of-state car, you’ll need to buy insurance valid in Florida. And coverage requirements here are a little different than in other parts of the U.S.

 

Coverage requirements

Currently, to register a car in Florida, you must have an insurance policy with a minimum of $10,000 Personal Injury Protection (PIP), and $10,000 Property Damage liability (PD).  PIP covers injuries you or certain others receive in a crash, regardless of who is at fault. (It also covers your injuries if you’re hit while you’re a pedestrian.)  PD protects your liability if you’re at fault in an accident and you damage someone else’s property, such as a vehicle, building, or telephone pole. Please note that this is the minimum coverage required to drive legally in Florida, but such low coverage is not recommended for most people because it is most likely inadequate to protect you financially if you’re in an accident.

 

In addition, Florida has something called the Financial Responsibility law, which “requires that any person at fault in a crash resulting in bodily injury and property damage to others must have in effect at the time of the crash full liability insurance coverage.” This means that if you are at fault in an accident and you injure someone, you must be carrying at least $10,000 per person Bodily Injury (BI) coverage in addition to PIP and PD coverage at the time of the accident. 

 

Click here if you’d like to get a car insurance quote—you’ll need the driver’s licenses of all drivers in the household, as well as the vehicle identification number (VIN) for each vehicle. Have your current car insurance policy handy so you can tell your new insurance agent what coverage you currently have as well as what you would like to have on your new policy.  

 

For additional information on insurance coverage in Florida, please see “New to Florida? Here’s What You Need to Know About Car Insurance.”

 

Remember: before you can transfer the title or registration for your vehicle to Florida, you have to have proof of insurance.

 

In addition to proof of insurance, you’ll also need proof of identity, your out-of-state title/registration, and you’ll have to have your vehicle’s VIN verified by inspection. (Please click the Florida Highway Safety and Motor Vehicle Department link below for printable application forms and complete details on what you’ll need to do to register your vehicle and get a Florida driver’s license.)

 

Your local independent insurance agent

When moving to Florida, you’ll want to find a local independent insurance agent to handle your insurance needs—an agent familiar with Florida’s insurance laws. An independent agent will also be able to check rates with multiple insurance companies, so he or she can shop for the best rates for you rather than being exclusively tied to one company. 

 

Lakewood Financial is a locally-owned, independent insurance agency in business since 2003 serving Bradenton, Lakewood Ranch, Sarasota and surrounding areas. We have more than 25 years experience in the insurance business and we represent more than 40 financially sound car insurance companies. We want to be your Florida insurance agents—so please call us at 941-747-4600, or email us so we can help you begin your new life in the Sunshine State!

 

For more information:

Florida Highway Safety and Motor Vehicles

Florida Department of Financial Services • Division of Consumer Services Florida Auto Toolkit

Four Ways You Can Drive More Safely on Florida’s Roads

Need Car Insurance and Have PIP claims?

 

Why Florida Drivers Need Uninsured Motorist Coverage

uninsured motorist coverage

Photo by Erich Kasten from FreeImages

Despite the fact that insurance is required, too many Florida drivers go without it. In fact, Florida has the highest rate of uninsured drivers in the nation at 26.7 percent! If an uninsured driver injures you and/or your passengers, you’ll have to pay your own medical expenses, and you know how quickly those can skyrocket. One way to be sure you can protect yourself financially if an uninsured motorist hits you is to carry uninsured motorist coverage.

UM basics

First, let’s look at how uninsured motorist coverage protects you—and how it doesn’t.

Uninsured motorist (UM) pays your and your passengers medical bills if you’re in an accident caused by an uninsured driver. In addition, it reimburses you and your passengers for things like pain and suffering, wrongful death, and loss of enjoyment of life. It also covers you if the other driver is under insured—that is, if his or her insurance policy limits don’t cover the extent of the injuries caused by the crash. And it will pay if an uninsured motorist hits you while you’re a pedestrian, or if a hit-and-run driver injures you.

What an uninsured motorist does NOT do is pay for damages to your vehicle. You’ll need to carry collision insurance if you need or want your vehicle covered if an uninsured motorist damages it.

UM limits are indicated using two figures, such as 25,000/50,000. The first number is the limit of what the policy will pay per person, the second number is the limit per accident. You can only buy UM if you also purchase bodily injury (BI) liability, and you can’t purchase UM coverage higher than your BI limits.

Stacked vs. non-stacked

There are two types of UM coverage: stacked and non-stacked.

Non-stacked is cheaper to buy, but doesn’t offer as comprehensive coverage as stacked UM does.

Stacked UM provides higher limits and more complete protection. There are two ways in which stacked is more comprehensive than non-stacked.

If you insure more than one vehicle on your policy, the amount you’re able to collect can be “stacked”—that is, the maximum policy limit is multiplied based on the number of vehicles on your policy. So if you have limits of 25,000/50,000 and three vehicles on your policy, you can multiply the 25/50 limits by three, which means limits of $75,000 per person, $150,000 per accident will be available to you and your passengers.

What if you only have one vehicle to insure? Would you still want to carry stacked UM? Possibly. There are several scenarios in which you could be injured by an uninsured motorist where non-stacked insurance would not pay but stacked would. For example:

  • You ride a motorcycle. If you’re injured by an uninsured driver while riding, stacked UM from your auto policy will pay for your injuries. It will also pay for injuries to a passenger riding with you. Non-stacked will not. Stacked UM coverage on a personal auto policy is generally cheaper to buy than UM coverage on a motorcycle policy as well.
  • You are a “snowbird” who keeps one car in Florida and one car at your other home. You’re injured by an uninsured motorist while driving your “up north” car, but you don’t carry UM on that vehicle. You do carry stacked UM on your Florida vehicle—and that coverage will pay for your injuries, even though you were driving a vehicle you own that is not listed on your Florida personal auto policy.
  • You own a pickup truck which you use for business purposes and insure on a separate commercial auto policy, but you’ve chosen not to carry UM coverage on that policy. If you’re injured while driving the truck, and you carry stacked UM on your personal auto policy, it will cover your injuries.

We think UM coverage is important to carry, especially in Florida where so many drivers either have no insurance or don’t carry enough insurance. If you have any questions about uninsured motorist coverage, or anything else on your auto insurance policy, please call your Lakewood Financial agent at 941-747-4600, or email us. We will be happy to discuss your financial situation to determine what coverage makes sense for you.

Distractions and Driving Don’t Mix

We’ve all done it. We hear the telltale ping or ring of our cell phone while driving. Surely it will be OK just to sneak a peek at the screen to see who is trying to reach us? Maybe even answer the phone?

 

Unfortunately, all too often it’s not OK. Instead of focusing our full attention on the road, we’re driving distracted.

 

According to the National Highway Traffic Safety Administration (NHTSA), 3,450 people were killed in 2016 in “distraction-affected” crashes—92 percent of all crash fatalities. In 2015, 391,000 people were injured in crashes involving distracted driving.

 

Using a cell phone while driving increases crash risk, but phones aren’t the only things distracting us on the road. Eating or drinking, interacting with passengers (or pets), adjusting the radio, consulting navigation, and personal grooming (applying makeup, combing hair) all keep our full attention from being on our driving. Distracted driving is driving while doing any activity that takes full attention away from driving, whether it takes our eyes off the road, our hands off the steering wheel, or our minds off our driving. Texting is the worst thing we can do, since it involves all three of those things. Sending or reading a text for even five seconds at 55 miles per hour is like driving the length of a football field with our eyes closed!

 

Many states already ban hand-held cell phone use and texting. The Florida Legislature is currently considering a bill that would prohibit drivers from texting, reading data, or talking on hand-held devices. Texting while driving is now only enforced as a secondary offense when a driver has been stopped for another infraction. 

 

Whether or not the bill passes, for our safety and the safety of others on the road, we should decide to put aside all distractions and keep our full attention on our driving. We also need to share this information with our teens, some of the worst offenders when it comes to phone use while driving.

 

So the next time a call or text comes in while you’re driving, do the right thing and keep your hands on the wheel and your eyes on the road until you get to your destination, or you can pull off the road safely to check your phone. We promise we will, too.

 

Lakewood Financial is an independent insurance agency. We’ve been serving Bradenton, Sarasota, Lakewood Ranch and surrounding areas since 2003. We represent more than 40 quality car insurance companies, and strive to provide our customers with the best coverage at the most competitive rates. If you need help with your car insurance, please give Lakewood Financial a call at 941-747-4600, or request an insurance quote by clicking here. 

Stock Your Car With a Roadside Emergency Kit

Roadside Emergency Kit

Even though you take good care of your car, you never know when an emergency will arise. Stocking your car with a roadside emergency kit will may help you get back on the road more quickly if you have a breakdown. At the very least, you’ll be safer and more comfortable while you wait for help.

You can buy pre-made roadside emergency kits, but when you make your own, you know exactly what’s in it, and you can tailor it to the needs of your local climate. (In Florida, we don’t need kitty litter for icy roads, for example!) In addition to the supplies needed to change a tire, here are some basics your kit should contain:

 

  • First Aid supplies: antiseptic, Band Aids, hand sanitizer, antibiotic ointment, insect repellent, tweezers, Ace bandage, instant cold compress, etc.
  • Road flares or reflective triangles
  • Jumper cables
  • Fire extinguisher intended for automotive use. Use to fight a small fire, but if your car is on fire, don’t try to put it out yourself. Move to safety and wait for emergency help.
  • Rain poncho
  • Flashlight with spare batteries
  • Duct tape
  • Baby wipes
  • Rags or paper towels
  • Drinking water and non-perishable snacks
  • Multi-purpose tool
  • Blanket
  • Can of tire inflator, such as Fix-a-Flat
  • Gloves

You may also want to add a car cell phone charger, and pen and paper to your kit. If you drive an older vehicle, include oil, anti-freeze, and brake fluid.

 

Store your kit in a plastic container with a lid, a cardboard box, or other storage item and keep it in your trunk. Arrange everything neatly, preferably in a single layer so you can see what you have and get to it quickly. Also, do an inventory every few months, making sure to replace anything you use up or that expires.

 

It doesn’t have to take a lot of time or money to create a roadside emergency kit. Stock your vehicle with one, and you’ll be prepared if you’re ever stuck by the side of the road.

 

Remember, if you need car insurance, Lakewood Financial is here to help.  Please give us a call at 941-747-4600 or contact us online for a free quote.  

Start the Year Right With Insurance Savings

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Shopping for insurance is no one’s idea of a good time, but here at Lakewood Financial, we try to make it as simple, painless and cost-effective as possible. We are an all-lines, local independent agency, based in Bradenton, and we: …
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Four Ways You Can Drive More Safely on Florida’s Roads

Drive More SafelyWhile Floridians don’t have to cope with driving in extreme winter weather the way other parts of the country do, just like everywhere else, we do have challenges to safe driving. Challenges like distractions, traffic, construction, and yes, weather (think driving home from work in the pouring rain!). Since one of the best ways to lower your car insurance premiums is to keep your driving record clean, here are four ways you can drive more safely on Florida’s roads.

 

Watch out for weather conditions

We may not get snow, but we do get rain, fog, and even sometimes smoke. Whenever visibility is reduced, slow down and make sure your low beams are on (high beams can reflect back and further impair your ability to see). Unless it’s unsafe, try to drive with the flow of traffic and avoid changing lanes. (Click here for tips on safe driving in the rain.) Don’t drive with your hazard lights on.

 

Don’t stop on the road. If you must stop, after signaling, pull safely as far off the road as possible. Then you may put on your hazard lights.

 

Ditch the distractions

While you’re behind the wheel, put your phone away, turn off the radio if it’s distracting you, and avoid having animated and engrossing conversations—save those for when you’re safely at your destination. Try not to let anything distract you from your driving. It only takes a moment of inattention to cause an accident.

 

Maintain your vehicle

Proper maintenance will help you avoid breakdowns or equipment failures, both of which might cause an accident. Click here for car maintenance tips.

 

Drive defensively

We know you’re a good driver, but what about everyone else on the road? We share the road with other drivers, bicyclists, motorcycles, and even pedestrians, some of whom are distracted or drive recklessly. Drivers who speed, change lanes abruptly, or drive much slower than the flow of traffic create a dangerous environment. Slow down and change lanes to allow reckless drivers to pass, or stay a safe distance away from them. Watch for pedestrians, bicycles, and motorcycles. Also, be sure to move over a lane when passing emergency vehicles or an accident at the side of the road. 

 

Two areas of special concern are construction zones and areas where there are children. In construction zones, follow posted speed limits, and watch for debris in the road—change lanes if possible to avoid running over it. Also be mindful of workers in the area who may be near traffic or need to cross the road.

 

Where children are present, such as in school  zones or near parks, use extra caution. Children are unpredictable and can be hard to see. Slow down and be prepared to stop. (And click here for back-to-school safe driving tips.)

 

And we don’t need to remind you to use your turn signal when preparing to turn, do we?

 

Follow these tips to drive safely, keep your driving record clean, and reduce your car insurance premium. If you have any questions about car insurance, or you need a quote, please call Lakewood Financial at 941-747-4600, or contact us online.

Affordable Car Insurance for Your Teen Driver

Affordable Car Insurance For Your TeenYour teenager just got his driver’s license. How exciting—and how expensive!

 

There’s no way around it. Teen drivers do cause the family’s car insurance premiums to go up, because statistically immature drivers are at higher risk for accidents. Teen drivers aged 16-19 are three times more likely to be in a crash than drivers aged 20 or older. The good news is Lakewood Financial is here to help you protect your financial assets while helping you find affordable car insurance for your teen driver.

 

Here are some ways to make adding your teen driver to your car insurance more affordable while still keeping your financial assets protected:

 

First, if you haven’t already added your teenager as a driver on your car insurance policy, now is the time to do so. If you don’t and he or she is in an accident, you may not be covered.

 

If you’re buying a car for your teen driver, choose wisely to avoid most expensive premiums. Save on premiums by choosing a safe vehicle that’s not too expensive or sporty.

 

It’s almost always more cost effective to add your teen’s car to your family’s car insurance policy so that you benefit from discounts like multi-car and homeowner’s. Another benefit is that your teen will be covered if he or she needs to drive another of the family’s vehicles.

 

Emphasize safety rules with your teen driver. The best way to keep insurance costs down is for everyone to maintain clean driving records. If your teen driver is also a safe driver, your premiums should eventually decrease.

 

Ask your insurance agent about all available discounts, including those for safety features, good student discounts, and for taking a recognized driver’s education course.

 

Make sure you have adequate liability coverage. That may seem counterintuitive, but insurance premiums are never as expensive as being sued! If your teen driver is at fault in an accident where someone is injured and your policy doesn’t have bodily injury coverage, you’ll be required to carry an SR-22. And if you only carry the state minimum, that may not be enough to protect you from a lawsuit. Depending on your assets, once your teen starts driving, you may want to carry higher liability limits, or even an umbrella policy. Your Lakewood Financial agent should be able to help you understand and adjust your needs for liability insurance.

 

Lakewood Financial is an independent insurance agency and we represent more than 40 car insurance companies. Let us find the most cost-effective car insurance policy for you and your teen driver. Call us at 941-747-4600 or email us for a free, no-obligation quote. We’ve been serving Sarasota/Bradenton, Lakewood Ranch, and surrounding areas since 2003, and we’d love to serve you!

 

 

Insurance and Your College Student

Congratulations—your child is going off to college! While you’re packing up your student’s belongings and offering last minute advice, take a few minutes to think about how this new adventure affects your own and your college student’s unique insurance needs.

Unique Insurance Needs

Car Insurance

Is your child taking a car to school? If you’re supporting your student financially, he or she should be covered under your existing family car insurance policy. You will want to notify your Lakewood Financial agent (give us a call at 941-747-4600), especially if the school is outside of Florida.

If your child is not taking a vehicle to school, you should still tell your agent—you may be eligible for a premium discount, especially if your child’s college is 100 miles or more from home. Also remember that you may be eligible for Good Student Discount if your child maintains a certain grade point average, usually a B average or above, whether or not he or she takes a vehicle to school.

Protecting personal property

Another concern for parents of college students is protecting their child’s personal property. About half of all campus crimes involve burglary. While college students need items such as laptop computers, tablets, smart phones, and so on, if at all possible they should leave home any non-essential and expensive items such as electronics, or luxury watches and jewelry. 

If your child lives in an on-campus dorm, his or her personal belongings are covered under your homeowners insurance policy, up to certain limits (check your insurance policy or ask your agent, and remember that your deductible still applies).

However, if your student lives off campus, he or she is not covered by your policy, and should buy a renters insurance policy. These policies are affordable, and also offer liability protection as well coverage for personal property. 

Make a detailed inventory of what your student takes to school, and update it every year. Include copies of receipts and photos. This will help you get a claim paid faster in the event of a theft.

Remind your student to take common sense precautions, including locking dorm rooms and keeping personal items like backpacks, purses, and laptops with them instead of unattended in the library, cafeteria, or common areas.

If you don’t already have one, you might consider adding a personal injury endorsement to your homeowners policy. This could come in handy if your student is sued for posting something negative on social media!

If you have any questions about what is or is not covered, please give your Lakewood Financial agent a call.

What about health insurance?

Depending on your health insurance policy, your college student may be covered under your policy. If he or she is going away to school, make sure there are in-network doctors and hospitals available in the new area. You’ll pay more for out-of-network medical services, or there may be no out-of-network coverage except for emergencies.

If there are no in-network providers in your college student’s area, most colleges offer student health plans that may be just what you need.

Other insurance concerns

If your income is paying for your child’s college education, do you have enough life insurance coverage in place to complete it if something were to happen to you? In general, you’ll want enough to cover expenses until your youngest child finishes school.

What about an umbrella policy? Umbrella policies cover all household members even when they’re away at school. This provides additional liability protection for both your college student and you as their parent. 

When you wave goodbye to your budding young adult, rest easy knowing your insurance safety net will continue to protect you all. Please give us a call at 941-747-4600 if you have any questions about your insurance needs, limits, or what your policy covers. You may also contact us online by clicking here.

We’re here to help!

Coverage Options for Uber and Lyft Drivers

 

uber and lyft driversThinking of making a little side income by becoming a rideshare driver* for Uber or Lyft? Before you sign up, make sure you’ve got insurance coverage. Will your personal auto policy be enough? Or do you need a commercial auto policy?

 

A typical personal auto policy only covers you for personal use, not when you’re using your vehicle for commercial purposes, as you would as a rideshare driver. However, since you only occasionally use your vehicle for commercial purposes, you probably don’t want or need a commercial auto policy. The company you work for will likely carry some coverage, but you’ll still need to carry coverage to protect your liability and your vehicle when you’re driving for them. What should you do?

 

We’re happy to say that insurance companies have seen the need for endorsements that reflect the needs of rideshare drivers. Give Lakewood Financial a call at 941-747-4600 to discuss your options.

 

Remember, if you use your vehicle for your job—if you’re a realtor, an outside salesperson, or a professional construction worker, for example—you will need a commercial auto policy. We can help with that, too! Just give us a call, or contact us online for a free, no-obligation quote.

 

*A rideshare driver is an individual who provides taxi-like services to passengers via smart phone app for a Transportation Network Company (TNC), such as Uber or Lyft. Drivers use their own personal vehicles, rather than a limousine or taxi, to carry passengers.