Credit scores are used by most home insurers to determine the risk of insuring a home. If your credit score is low, you might have to pay higher premiums or even be denied coverage altogether. Your credit score is determined by a number of factors, such as how long you’ve had credit, and how difficult it is to obtain credit from various sources.
If you want to better your credit score, you should make it a priority to reimburse your bills on time and maintain a low balance on any credit cards you have. Reducing hard inquiries on your report can also help. For expert advice, consult with Magic City Insurance Group LLC in Birmingham, AL.
Credit Scores’ Affect On Home Insurance Rates
You’re probably wondering how one piece of data can have such a large impact on your financial future. Well, it’s true — your credit score is the most important factor when it comes to getting a good deal on your home insurance. The average US homeowner has a credit score of around 640, which puts them in the “low-risk” category.
Homeowners in this category have the best chance of getting the lowest rates when they are looking to renew their home insurance. Keep your credit utilization low by closing open accounts, and keeping your credit utilization below 30%. Be careful with new applications, as they may report your old credit history. And finally, keep your credit active.
Contact Us Today
Credit scores are used by insurance companies to determine your risk and how much you should pay for a policy. If you have a higher credit score, then you’re considered less of a risk to the insurance company and can expect to pay less for your home insurance premiums. If your credit score is low, your rates will also be higher because the insurance company sees you as a risk. For inquiries in Birmingham, AL, give us a call at Magic City Insurance Group LLC.
Auto insurance can be confusing. There are so many different types of coverage, and it can be hard to keep them straight. Do you need collision coverage? What about comprehensive coverage? And what’s the difference between the two? Never fear! Your guide to auto insurance is here. In this post, Magic City Insurance Group LLC in Birmingham, AL breaks down collision and comprehensive coverage, so you can decide which type of insurance is right for you.
Your Guide to Auto Insurance
It helps cover for damage to your car that results from a collision. Whether you hit a tree, another car, or a pothole, collision insurance will help pay to repair or replace your vehicle. If you have an accident and your car is totaled (meaning the cost of repairs would exceed the value of your car), collision insurance will also help pay off your loan or lease.
A comprehensive cover helps you pay for damage to your car that is not the result of a collision. Comprehensive insurance will help pay to repair or replace your car if it’s damaged by things like hail, fire, floods, or theft. It also covers glass repairs or replacements, so if you get a chip in your windshield, comprehensive insurance can help pay for it.
So, which type of insurance is right for you? Well, this, of course, depends on a few factors. The value of your car, your driving record, and where you live are all things to consider when deciding whether to purchase collision or comprehensive insurance (or both!) If you have an older car, it may not be worth getting collision insurance since the repairs may not be worth the cost of the premium. If you live in an area with a high rate of car theft, comprehensive insurance might be a good idea.
Need Auto Insurance in Birmingham, AL?
If you’re trying to decide whether to purchase collision or comprehensive insurance, consider all the factors mentioned above. Magic City Insurance Group LLC can help you find the right auto insurance policy for your needs. Contact us today for a free quote.
Flooding can cause a significant amount of damage to your home and belongings. Sometimes, it can even be life-threatening. That’s why it’s important to have flood insurance in Birmingham, AL if you live in an area prone to flooding.
Here are some benefits of having flood coverage:
Pay For Home Repairs
If floodwaters damage your home, your policy will help pay for the repairs. Water damage restoration can be an extensive process, so it’s crucial to have the coverage you need to get your home back to normal.
Mold is another problem that follows floodwaters. Certain situations might allow mold and mildew mitigation following flooding. Both contaminants are unhealthy to live around and will cause further damage to your home if not mitigated quickly.
Having coverage for mold and mildew from floodwater can be a lifesaver. The service in Birmingham, AL, is expensive, and some consumers can’t afford the cleanup. Magic City Insurance Group LLC can help you find flood insurance for your home to prepare you for any disaster.
Replacement Cost for Your Belongings
Your policy will also help pay to replace your belongings if flooding damages or destroys them. This benefit can be beneficial if you have many valuable items in your home.
Many people think that their homeowner’s insurance policy will cover them for all water damage, but that’s not always the case. Flood insurance is a specialized type of coverage that helps you when floodwaters invade your home and property.
Flooding can cause a lot of damage to your home and belongings. Protect your home, belongings, and family with flood insurance in Birmingham, AL. Contact Magic City Insurance Group LLC to learn more about your options.
Most states have auto insurance requirements that all drivers in the state must follow. Alabama is not an exception, they also have requirements. If you don’t have the required insurance and are caught, you could lose your license and registration and be fined. It isn’t worth it. At Magic City Insurance Group LLC in Birmingham, AL, we take our responsibility as independent insurance agents seriously. We ensure that our customers have the auto insurance they need to comply with the law.
Auto Insurance Facts
The law in Alabama mandates auto coverage of 25/50/25. Liability insurance is required and that protects the other driver and their property from you. If there are injuries, the first person injured is covered for $25,000 and the total accident tops out a $50,000. Damage to property is also $25,000. This is basic coverage, and while you may be in compliance with the law, it may not be enough to really protect you.
If you are leasing your vehicle you have an auto loan, you will have additional coverage. You need coverage on your car as well. This requires having collision and comprehensive coverage. Collision coverage is for what it sounds like, a collision. It can be with another vehicle or a stationary item like a pole or tree. It also covers you if someone hits your car and leaves the scene.
Comprehensive coverage is for things that hurt the vehicle that you can not control. If your car is trapped in floodwaters, stolen, vandalized, or gets damaged by heavy winds or hail, you can count on your comprehensive coverage to take care of the damage. Glass coverage is also included.
Give Us A Call
Contact Magic City Insurance Group LLC in Birmingham, AL, for your auto insurance requirements.
Owning a home is a huge responsibility. So many things can go wrong that could damage your home. It is vital that you read your home insurance policy. Some things are excluded from coverage. Once you know what the exclusions are you can have an alternative plan for coverage. At Magic City Insurance Group LLC in Birmingham, AL, we strive to educate and make sure our customers have the coverage they need.
As disgusting as it is to think about what a mess a sewer backup could cause, it is even worse to consider that mess not being covered by home insurance. If it makes you uneasy, you can get an endorsement that will cover you in the event it happens.
Feeling the earth move under your feet? Not a good thing when it comes to home insurance. Almost all earth movements are not covered by traditional home insurance. That includes earthquakes, landslides, mudslides, and sinkholes. However, if you feel that you are in danger of this happening, you can get a separate policy to cover whichever one might be a danger to you.
Flooding is probably what shocks most people when it isn’t covered by home insurance. By flooding, it means surface water. If one of your pipes breaks in the house, that will be covered by your policy. But the water from the ocean, a stream, or a river will not. You can, however, purchase a policy through the National Flood Insurance Program.
As the owner, you are expected to maintain your home. This includes termites and mold, replacing your roof as needed, and any other maintenance that needs to be done. Damage that results from neglect won’t be covered.
Contact Magic City Insurance Group LLC in Birmingham, AL when you are in the market for home insurance.
Many Birmingham, AL homeowners make the mistake of assuming that their homeowner’s insurance policy offers protection against floods. Unfortunately, it likely doesn’t. When flood damage is caused by a natural disaster as opposed to a burst plumbing pipe, specialized and separate flood insurance is necessary. Magic City Insurance Group LLC wants you to understand just how important having a flood insurance policy can be, especially if you live in a flood-prone area.
It Protects Your Home Structure
Floods are among the most common natural disasters that occur in the U.S. This is true for high-risk as well as non-high-risk areas. One-fifth of flood insurance claims are for non-high-risk areas. By investing in a flood insurance policy, you can protect the structure of your home in the event it suffers flood damage from torrential rainfall or another natural disaster. This includes damage to the roof, walls, flooring, and foundation.
It Protects Your Personal Belongings
Some policies will not cover your personal belongings within the house. The good news is you can purchase a separate policy that will cover these items. This is true whether you own your home, or if you are renting. In order to ensure you are properly protected, you will want to create an inventory list and provide it to your insurance company in the event a claim needs to be filed in the future.
When it comes to protecting your property in Birmingham, AL, a standard home insurance policy is usually not enough. You also should consider additional coverage like flood insurance to ensure you are properly covered in the event of a natural disaster. For more information, contact Magic City Insurance Group LLC.
A home inventory is one of those things that you don’t realize you need until it is too late. When you file a claim on your home insurance after a loss, depending on the type of loss, you may need to provide the insurance company with a list of what was lost. When you have just been traumatized by the damage, it is hard to even imagine what you had previous to the peril happening. At Magic City Insurance Group LLC in Birmingham, AL, we want to make sure that you understand why you need to have a home inventory.
A home inventory is a list of all the contents of your home. It can be created in a variety of ways, but no matter what way you choose, it needs to be detailed and comprehensive. You can start with a pad and pencil, but be sure to have a way to take pictures of every room.
Inventory one room at a time. List the obvious things you can see. In the case of electronics or appliances, give the brand, model, and serial number if available. Attach any sales slips or invoices that you have to back up the details. Open drawers, closets, and cabinets. Go through every room in your home and don’t forget the basement and attic. You should also include the garage and a shed if you have one,
Take pictures of every room from different angles to include as much detail as possible. Once everything is complete, the inventory needs to be placed somewhere safe, preferably not in the home. If you have a safe deposit box that is good or in the Cloud. You need the inventory to be available if you need it.
In Birmingham, AL, contact Magic City Insurance Group LLC when you need an independent insurance agent.