Frees Advice

New Car Buying Tips

Posted on February 18, 2020 by Taylor Payne

It’s appealing to buy a new car that looks great and is fun to drive, but it also pays to look beneath the surface for features that make your vehicle safe to drive and affordable to insure.

Car insurance costs are based, in part, on the model’s safety history, the cost of vehicle repair or replacement, and the likelihood that the car will…

What is a Liability Umbrella?

Posted on January 30, 2020 by Taylor Payne

Insurance has some of the least exciting names for things. It isn’t like Red Bull or Mountain Dew. We have terms like stacking and unstacking. Boring. We have Marine which means we also have Inland Marine. Weird. We have Tort, not the delicious one, and then there is the “umbrella.”

Insurance can be divided into two basic parts; insuring “stuff” and liability. “Stuff” includes…

Premium Payment Options

Posted on January 21, 2020 by Taylor Payne

Paying your bills has never been easier. You used to have to check the mail, write a check, and mail the envelope back, always hoping the post office didn’t lose your payment. Almost every company has made it easier, faster, and safer to pay your bills. Insurance companies are no different. They know your time is valuable and provide many options for paying your…

Market Value vs. Replacement Cost

Posted on December 17, 2019 by Taylor Payne

Here’s a statistic that may surprise you: over half of homes in the US are underinsured.

This is largely because home insurance policies are often believed to provide coverage based on a home’s market value, as opposed to its replacement cost. Understanding the difference between these two concepts is a key factor in making sure your coverage is up to the high standards…

Never Assume

Posted on December 4, 2019 by Taylor Payne

As 2019 quickly comes to a close, we thought it would be good to revisit this year’s annual insurance review letter. The points addressed in the letter remain just as important as they were when we wrote this. Please come to us with any questions as we are happy to answer them before any issues arise.

Never Assume. (We all know what happens when…

Smart Home Technology Savings

Posted on November 26, 2019 by Taylor Payne

Smart home technology offers ease and convenience, allowing you to do things like turn lights on and off automatically while you’re on vacation or see who’s at your front door while you’re at work. But you may not know it also can help protect your home and reduce home insurance costs.

How? In addition to helping to make life easier and give…

The Future of Insurance – Pt. III

Posted on November 19, 2019 by Taylor Payne

“The only constant is change.” – Heraclitus

The future of insurance will be greatly affected by everything, and in my opinion, nothing. Insurance deals with the sudden and accidental loss both in your car and in your home. There are emerging technologies that will make for a “smart” house or they tout “accident avoidance.” It is important to recognize that it isn’t called a “brilliant…

The Future of Insurance – Pt. II

Posted on October 29, 2019 by Taylor Payne

Information storage occurs in bytes. First there were bytes, then kilobytes. Now? We have moved through terabytes and exabytes and we now measure data storage in yottabytes. What does all of this mean for insurance? Insurance loves the science of actuary. Actuary is the theory of large numbers. Give an actuary a sample with 1 million or more records, and they can reasonably predict things…

Crime Prevention Month: Home Safety

Posted on October 2, 2019 by Taylor Payne

Every 13 seconds, a burglary occurs somewhere in the U.S., adding up to approximately 2.5 million burglaries each year, according to Alarms.org. Two-thirds of those crimes are home break-ins, and if it were not for home security systems, that figure could be significantly higher — a study from UNC Charlotte found that 83% of convicted burglars said they checked for an…

The Future of Insurance – Pt. I

Posted on September 17, 2019 by Taylor Payne

It’s 1984 and little has changed in the insurance world. We still use manual typewriters. Insurance policies have $50 deductibles for home insurance and replacement cost protection for houses and contents doesn’t exist yet. Fast forward 35 years and the insurance world is entirely different. The fax machine has come and gone. Regular mail is almost a thing of the past and if…