March 2010 - Bradford PA Insurance - Williams Insurance Agency

Lower Pennsylvania Auto Insurance Rates Are “Springing” Up

March 31, 2010 in bradford, Bradford Car Insurance, Bradford PA, bradford pennsylvania, pennsylvania auto insurance, pennsylvania auto insurance rates

Sorry, No sermon today…just the plain old boring facts

    Pennsylvania auto insurance rates are just finishing a nice little streak. Seems like we saw more rates going down in the last three or four years than I’ve seen in my 24 years in the business. Combine some cash hungry competitors and sophisticated pricing models from insurance companies and many folks have seen some serious rate reductions in the past few years. 

    Looks like a few of the new kids on the block have finally gotten smacked around by the big bully and they’re raising rates to cover some of the astronomical losses they’ve experienced over the past few years. Some of these companies should know better…seems that the greed and challenge of grabbing customers must be overwhelming…cause they keep coming back for more.  Looking over some of the pennsylvania auto insurance rate filings lately and I see companies taking 4% rate increase and showing an “indicated need of 18.6%” Translation: Rates will probably be going up again sometime real soon. Kinda like putting a gallon of gas in your car…it’s gonna need more before long.

    Be on the watch for your next renewal policy and see if what I’m saying doesn’t come true.  These guys are hungry for more revenue and your name is on the donor list. Don’t feel like giving again?….well then, fill out one of my quote forms and get yourself some savings. We’ll show you which companies are a good choice and which ones to avoid…even in our own office. We’ve dealt with these guys long enough to know who’s bluffing and who really gets the job done. It’s our pleasure to help you find better deals on pennsylvania auto insurance

Want to sell your life insurance?

March 31, 2010 in bradford, Bradford Car Insurance, Bradford PA, bradford pennsylvania, Uncategorized

Life settlement deals are increasingly popular, not always wise. Actually sounded pretty morbid to me the first time I heard about them.

The idea of selling your whole life insurance for a nice chunk of cash can sound appealing. Here’s how it works.
* A broker will offer you a settlement worth a certain fraction of your policy’s face value, which is generally more than the cash value amount.
* The broker then sells your policy to a buyer who will pay the premiums on the policy. When you die, the policy buyer gets the face amount.
One example given by Smart Money: A 75-year-old man with $1 million in life insurance might get $250,000 now from a life settlement. The investors would get $1 million when he dies.
* For some people, the life settlement is a great choice. If they are struggling to make their insurance payments, if their beneficiary or spouse has died, or if they really need the money, it can be a good move.
The life settlement business is growing rapidly. It rose from $2 billion in 2002 to an estimated $18-19 billion through June 2009, according to The Economist. Of life settlements made in 2008, more than half of the policies were less then four years old.
* The business is not regulated by the federal government or most state governments. Life settlement companies don’t have to disclose how they value policies, what fees they charge or what commissions they pay.

Caution: After a life settlement, you may owe capital gains taxes on the proceeds, and you might not be able to get more life insurance if you need

Make Wise Decisions When Buying Pennsylvania Auto Insurance

March 31, 2010 in bodily injury insurance, bradford, Bradford Car Insurance, Bradford PA, bradford pennsylvania, collision insurance, comprehensive insurance, gap insurance, insurance agent, liability insurance, pennsylvania auto insurance, property damage liability

Whether you are buying insurance for a new car or for an older second car, there are many choices to make.

Collision insurance: When a vehicle is financed, the lender requires collision insurance. It pays for damage to your vehicle in an auto accident when you are at fault. In a total loss, it pays the fair market value of your car or truck.

Comprehensive insurance: It’s similar to collision but also covers damage to your vehicle by an unknown party or “act of God.” Vandalism, flood, hurricane, theft and fire are usually covered, but check the policy for the details.

Liability insurance: If you are at fault in an accident, you could be held liable for medical and repair costs for everyone involved. Liability coverage won’t pay for your vehicle, but it can shield you from cost of damage to others.

Some owners of older vehicles choose liability coverage only. Adding comprehensive insurance for a vehicle valued at $3,000 more or less costs little, and could be very helpful if you have to replace the car.

Bodily injury insurance: If people are injured in an accident that is your fault, this insurance will pay for medical expenses, loss of income, funeral expenses, legal defense fees and more. Consider purchasing the highest limit you can afford.

Property damage liability insurance: It pays for structural damage to homes, storefronts, stationary objects, vehicle repair or replacement costs when the accident was your fault. It can protect assets in the event of a lawsuit resulting from a covered accident. Consider buying the highest limit you can afford.

Insurance agents usually present a comprehensive or collision policy with the addition of bodily injury, liability, and other features insurance listed separately on the bill. The coverages may be limited, but you can raise them.

Gap insurance: When you buy a new car, its fair market value is reduced significantly in the first months you own it. And some long-term finance plans result in the loan being larger than the market value of the vehicle for two or more years. To fill these shortages in coverage, gap insurance can help.

To save on insurance costs, increase the deductible amount. There is a 20 percent savings when the deductible is raised from $200 to $500 and greater savings if it is raised to $1,000.

Pennsylvania Auto Insurance Rates….Feeling Drained ? You Will Be !

March 29, 2010 in bradford, Bradford Car Insurance, Bradford PA, bradford pennsylvania, pennsylvania auto insurance, pennsylvania auto insurance rates, Pennsylvania insurance department, progressive insurance

    You know, it’s just not very nice to start off blubbering about insurance companies gouging their customers. We all know an insurance company would Never do such a thing! Well…at least not right out where everyone could see it. Believe it or not….you may have a big bullseye painted right on your wallet.


    Despite what you may have heard, pennsylvania auto insurance rates are on the rise again and you might not be able to dodge this one.  I’ll give you a listing in a minute of some of the companies who have filed for and or been approved for rate increases this upcoming year. The ones that really scare me are the guys who already got an increase in 2009 and are already putting their hand in the “cookie jar” again !!! But first a warning… Many of these companies have indicated to the insurance department that they really need “more” of a rate increase, but are only taking a fraction of what they need.  Loosely translated….we’re coming back for more as soon as this runs out.


    In no particular order, here are the rate increases for some of the leading companies who write pennsylvania auto insurance. Many of the smaller companies or those with very little market share are not listed. If you really want to know about your company you cabn check the pennsylvania insurance department’s website for more detailed information.


Alrighty then let’s throw out the first pitch:

Progressive Specialty and Progressive Preferred both checked in with a 5.5% rate increase effective on 2/26/10


Trustgard Insurance of the Grange Group filed a whopping 12.8% rate increase… effective 3/1/10      “ouch”


Nationwide Affinity Ins. Co, Of Amer. a member of the Nationwide Group checked in with a modest 3.0% rate increase…we thought they were already too expensive:)


Allstate Fire & Casualty brings you a 6.8% rate increase effective 4/5/10…straight from  the “good hands” folks…no nasty comments please


Travelers Home & Marine files for a 3.0% increase effective 5/23/10 with an indicated need of 18% wanna bet who’ll be taking another rate jump soon ?


TravCo of the Travelers group also filed for a 3.8% rate jump effective 5/23/10 with an indicated need of 18%…good luck with that


Mutual Benefit filed for a 6.0% increase on their pennsylvania auto insurance program as well. 


 So…there you have it…do you still need a reason to get a “Savings Estimate” from my agency ?  Suit yourself…when you want better insurance at a better value, come see me!

Pennsylvania Auto Insurance Crisis

March 26, 2010 in bradford, Bradford Car Insurance, Bradford PA, bradford pennsylvania, car insurance, online quotes, pa auto insurance, pennsylvania auto insurance

    If every ad I see for pennsylvania auto insurance promises to save me hundreds on my car insurance…all I should need to do is switch twice or three times and my car insurance will be practically free !!  Wow that was easy, didn’t even take 15 minutes.

    Here’s what I’m finding with many of my newest clients. The internet shoppers as a whole are pretty uneducated about pa auto insurance. When given the choice to pick their own coverage they almost always make drastic mistakes that could end up costing them tens of thousands of dollars for a few measly dollars in savings. That’s where an honest, professional comes into the equation. Go ahead and get the online quotes, but be sure to ask for any suggestions before you finalize the purchase. With most online wholesalers you may never speak to the same person twice, so be very careful who you take advice from. I gotta say it’s pretty darn easy to give advice when you can do it anonymously.

    Check references…I know you just said “huh” well..what I meant was “be sure you check the agents track record” does he/she have client testimonials, references and experiences that scream out good news? If you think of the worst case scenario..and I always do… imagine yourself being sued for  hundreds of thousands of dollars and you are being told “you don’t have coverage for that”  What ?  So here’s my advice to you. Get some prices, really good prices and then simply call and see what type of reception you get when you ask for someone who can explain each coverage in detail before you purchase the policy. Guess what ? The answer you get will give you a good idea of the reception you’ll get when you are in serious need of help from your insurance company.