How soon do I need to let my insurance company know I have a new vehicle?

This is an interesting question and varies by insurance company.

Most insurance companies, please check with yours, automatically cover your new vehicle for between 14 to 30 days. That means your coverage starts as soon as you "sign on the dotted line", whether you notify your insurance company or not. But there is a catch. If you only have liability coverage on your old car, you will only get liability coverage on the new car. The car dealership and/or lien holder will require you to have full coverage, ie collision and comprehensive. That is why you should notify your current auto insurance carrier, either by calling your agent and their 1-800 number to make sure you have full coverage.

Also, some companies, like mine, offer some type of new car replacement coverage. With my company, in the event of your car being totaled during the first 3 years, they will cut you a check for the full replacement cost of a current year version of your vehicle with no depreciation, less your deductible. This coverage is only available if you own your car, not lease it. The cost ranges from about $8 to $15 per vehicle every 6 months. For example, one of my clients had this coverage on her car when it was totaled and instead of getting a check for $44,000 on her 2014 Audi, she got a check for $75,000 which was the replacement cost for a 2016 Audi.

Do I really need uninsured and underinsured motorist coverage?

I hear this question every week at my agency and in my opinion, the answer is YES. Let me explain why.

Lets suppose you are driving down the street,and by mistake, run a red light and are at fault for the accident, You have smashed into other car and cause serious death or injuries to other people in that car.The Bodily Injury coverage on your auto policy will pay for those deaths or injuries, up to the limits on your policy. Let's say you have $100,000/$300,000 liability limits. That means your auto policy will pay up to $100,000 worth of injuries per person  and up to a total liability payout of $300,000 per accident.

Now lets suppose the opposite situation. You are driving down the road and someone runs a red light and hits your car. Your medical injury bills total $100,000 but the other driver
only carries State Minimum Coverage of $15,000/ $30,000. What do you do now? You have $85,000 of medical bill that the other person's insurance will not pay and if the other person is driving with State Minimum Coverage, do you think they have the assets to cover your bills if you sue them for the balance? Probably not.

This is where having Uninsured and Underinsured coverage on your own auto policy is a blessing for you. This coverage will help pay your medical bills, to your policy limits, if the other driver is at fault and either does not have auto insurance or does not have enough coverage to pay your medical bills. Uninsured and Underinsured coverage on your policy is not required by AZ State Law and is not very expensive. But it could mean the difference between paying your medical bills or you having to sell some of your assets to help pay your bills.

Is Jewelry Protected on Renters, Condo or Home Insurance?

Just because you don't own your own home doesn't mean that you don't have nice stuff. If you own expensive jewelry, whether it's a diamond engagement ring or a family heirloom, you may have wondered whether renters insurance covers it.

When it comes to your belongings, it's important to understand what types of risks your renters insurance protects against and how much coverage it provides. In some cases, you may decide that it's worth putting extra protection in place. Here are some things to consider.

Personal Property Limits on Renter's, Condo or Home

Insurance policies typically come with limits for each type of coverage. For instance, your renters insurance policy may provide $50,000 in coverage for your belongings (described in most policies as personal property). However, renters insurance policies usually include sub-limits for certain types of items, such as jewelry.

That means that while you may have up to $50,000 in coverage to help pay to replace your belongings if they are stolen, for instance, you may find that your policy provides only $1,000 in coverage for theft of jewelry. Some insurers may set a "group" coverage limit for an entire category of valuables — for example, a maximum of $2,500 for all of your jewelry.

In either case, the coverage provided by a standard renters insurance policy may or may not be enough to cover what you actually paid for your jewelry or what it's worth on the current market.

For this reason, it's important to document how much your jewelry is worth so that you can make sure you have enough coverage in place. Documents like receipts and appraisals are good ways to track the value of your belongings, the Insurance Information Institute says. Such records may come in handy in the event that you need to file an insurance claim.

The question is not whether or not you will have a chip in your windshield, the question is when!

Glass claims here in Arizona are as common as scorpions. With our dusty and rocking environment, the question is not whether or not you will have a chip in your windshield, the question is when!

Most insurance companies give you the option of picking your own glass company. My suggestion, is that if you have a chip or crack in your windshield, contact your agent. They will help you determine the best place to get it fixed. Here are some suggestions to help you.

• Refrain from using "car wash" glass companies. You want to deal with a glass company that will back your repair with a 100% guarantee and will be there if you need them. 

• If you are offered a cash incentive to use a glass company, than buyer beware. There is usually a reason they have to offer you a cash incentive to use their services.

• All glass companies are not created equal. You want to pick a glass company that does a complete job, such as replacing the rubber molding, not just putting a new windshield. Replacing the rubber molding the glass fits into helps make a more complete seal and eliminating wind noises.

• I always like referrals from such sources as Angie's List, Yelp (4 star reviews) and personal friends. Hint, you can also ask your agent where they get their windshields repaired.