For insurance customers, bundling can save you a great deal because it offers discounts for having home and car insurance in a single package. According to InsuranceQuotes.com, you can save an average of $243 each year with bundling. Those savings rose 65 percent since last year. Using the statistics, Florida has a worse average with one of the lowest average savings for bundling. Residents in Georgia, on the other hand, save around 22 percent. The report found that Louisiana had the highest savings when it came to bundling. For example, they saved around $548.

On a national scale, customers have saved around 16 percent when it came to bundling. Compare your prices and look at many combinations to determine if you should bundle. In some cases, it may not make sense. A lot of the bigger car insurance companies will price their rates in a manner that attracts a certain part of the market. Are you looking to insure both your cars and your home?

Why do companies give discounts for bundling? Essentially, it boils down to them having more money of yours to work with. As a result, they can justify charging you less because you go through them for more than one thing. Auto insurance companies will often give discounts because they want to retain their customers. It becomes much easier to have long-term customers as opposed to having to find newer customers. When you combine your policy into a single auto insurance policy, you save money. Also, instead of having to pay for multiple insurances with different companies, you can place your billing into a single place. A lot of car and home insurance customers do it for that reason. They want to save money. When you bundle, you save.

Call Pachuta Insurance Today @ 706-769-2262
Sources:
PR Newswire
Investopedia

Thinking about buying an electric car? While you might kiss gas prices goodbye, according to a study from NerdWallet, you could pay a higher car insurance premium for electric vehicles of the same version. Why would an electric car cost more for auto insurance? NerdWallet attributes the extra cost to a higher valued vehicle that will cost more to repair.

In the study, they found that car insurance quotes for an electric vehicle cost 21 percent more than what you might find for a quote with gas vehicles. In the study, NerdWallet checked the differences among the:

• Chevrolet Spark
• Volkswagen Golf
• Fiat 500
• Smart Fortwo

When reviewing the differences, researchers found that Volkswagen Golf had a 16 percent difference while the Fiat 500 had a 26 percent difference in car insurance. The more a car costs, the more the car insurance company will need to pay if they total the car, or it gets stolen. Even though electric cars cost less than gas vehicles, the expensive battery system and the specially trained mechanic is what leads to the extra cost in premiums. However, that is not to say that electric cars do not feature some attractive benefits. For example, if you own an electric car, you may qualify for a $7,500 federal tax credit.

In a different study, NerdWallet discovered that you may still pay less for an electric vehicle over a five-year period. This considers the full picture such as the buying and operating costs of owning an electric vehicle. You may also qualify for a discount if you insure an electric vehicle. However, remember that it does not matter how many discounts you will be given. In the end, it is the final price that matters.

Call Pachuta Insurance Today @ 706-769-2262
Sources:
NerdWallet
Huffington Post

A church sign once said, "Whoever stole our AC units, keep one. It's going to be hot where you're going!" however, unlike protecting yourself from common theft, a lot of churches do not look at the threat of cyber security, which can lead to identity theft. When it comes to cyber security, industries across all sectors have to practice good Internet security to protect private information. Otherwise, you could be at risk for any number of threats:

• Viruses and Malware
• Hackers
• System Glitches
• Staff Errors

Check to see if your church insurance policy will provide you with cyber liability insurance to mitigate the threat. In addition, practice proper safety. For example, always keep your antivirus updated and never turn it off, even if you want to get something done faster. You should also keep your software updated to avoid exploits and have a firewall.

We also recommend creating an IT policy for when people use your computers. You might understand the full gravity of what a data breach could do to your church, but not everyone at your church will understand without a policy. With an IT policy, you can teach people what to do and what to avoid that would create a problem for your organization. If your church encountered a data breach, you can purchase church insurance for protection against regulatory fines. A data security fine can reach up to $250,000, so it becomes vital to protect yourself.

Think cyber crime cannot happen to your church? Think again. You often hear about hackers attacking big corporations, but they like to target smaller organizations as well. Why would a hacker choose a smaller target like a church? The answer is that they are an easier target. Small organizations do not practice the same level of cyber security that you see with a bigger organization. For that reason, it becomes easier for a hacker to steal the data of a church or small business, compared to a Fortune 500 company that has a host of defenses in place.

Call Pachuta Insurance Today @ 706-769-2262
Source:
University of Waterloo

In a recent study from InsuranceQuotes.com, your average couple will pay 85.5 percent more on a policy after adding a teen driver. We have seen the most spike in premiums for 16-year-old drivers. In fact, the Atlanta Business Chronicle has stated that Georgia ranks as the 18th state for higher premiums to cover teen drivers for auto insurance. Meanwhile, Hawaii costs the least amount.

Another trend we have seen is that male teenage drivers will cost more to insure over a female teenage driver, except in six states that have banned the use of gender for determining your car insurance premiums. Even though North Carolina has banned it, Georgia still uses gender to decide on car insurance premiums. If you have a son or daughter who is a good student, you can receive a good student discount. According to the National Highway Traffic Safety Administration, car accidents account for approximately 33 percent of the deaths for 16 to 19 year old drivers. In 2013, more than 3,000 individuals died in car accidents related to teen drivers.

On a national scale, teenager who are 16 years old have caused the greatest spike in auto insurance rates. Once the driver reaches 19, that decreases up to 60 percent. Car insurance rates have skyrocketed because they are just learning to drive, but insurance confirms that this impacts all teen drivers are impacted by this. You pay more when you are a teen driver.

Many insurance companies have said that they raised the rate for teen drivers to help pay for the higher costs associated with a teen driver. As a parent, you can reduce the insurance penalty with the right methods. For example, you can use a monitor system to help lower the premiums. In addition, a vehicle with model power and great safety equipment will likely lower the rate on your insurance.

Call Pachuta Insurance Today @ 706-769-2262
Sources:
WSB Radio
NBC News