Most insurance companies have standardized official quotations for most general auto insurance policies that they offer. This standardized way of calculating policy quotes is the basis insurance companies use to charge their prospective policy holders and more importantly it is calculated in a way that factors coverage of all the possible risks and the overall profit that the insurance company wants to make with the quoted charge.

This already worked out charge on most insurance coverage policies has helped streamline insurance operations and at the same time reduced the complexity of the business model in regard to the day to day running of the business. On the other hand this standardized official data has also turned out to be a source of information on the company’s products and services in a counterproductive way to both the consumer and the insurance company’s competitors. Many competitors and consumers doing research on the different auto insurance quotes in a sector turn to these official quotes as a source of data to be compared with other company’s quotes.

Many insurance companies have realized the sensitive nature of these official rate charts and hence many of the auto insurers have kept this rate chart data as confidential as possible. The insurers know that the details in this rate chart, from the factors that the insurance company considers when calculating risk to the final quotes and discounts offered will be used and compared against competitor’s rate charts. If not careful this information will result in material which competitors can use against them in advertisement and negative publicity.

Irrespective of all the attempts insurance companies have gone to hide this information, there are still many sources from which determined auto insurance bargain/discount hunters can turn to get this information. For starters there is the Internet. A lot of insurance companies with a competitive edge and consumer insight groups have set up insurance comparison search engines and programs for the public use. What most insurance companies have gone to great length to cover up is known to a large extent to the market for analysis.

I just earned my drivers liscence. My father is dreading the cost of adding another driver to the family auto insurance policy. What are some discounts that many insurance companies offer that might help save my dad some money when the premium is due?

Do you have enough homeowners insurance coverage? Make sure you have enough insurance to cover the cost of rebuilding your house at current construction costs. To figure out the amount of coverage needed, take the total square footage of the house and multiply by current local rebuilding costs per square foot. For example: A 2000 square foot home with local rebuilding costs of $150 per square foot (2000 * 150) comes to $300,000 of dwelling coverage. 

Make sure that your personal possessions are properly covered. We recommend that personal possessions are insured at replacement cost NOT actual cash value. Most homeowners policies will also provide coverage for loss of use. This means that if you need to live somewhere else while the house is being restored the insurance company will pay for this expense. 

Liability coverage is also included on most homeowners policies. This is very important. The minimum on most policies is $100,000. We recommend at least $300,000.

A standard homeowners insurance policy includes four essential types of coverage. They include:

-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.  Additional living expenses in the event you are temporarily unable to live in your home because of a fire or other insured disaster.

In addition to the coverages mentioned, there are many other coverages to consider depending on the type of house, the contents in the house and any other structures located on the property. We recommend a review of your coverages be handled by a local Kansas homeowners insurance professional.