Is Your Smartphone Covered by Greensboro Home Insurance?

A question that we're hearing more and more from policy holders and potential clients these days is whether or not their smartphones are covered by their Greensboro home insurance policies. This is a question that may not have a simple answer since, as with most homeowner's insurance policies, coverage differs from one company to the next and each specific policy may be unique. Here are some examples.

Your Greensboro home insurance policy almost assuredly covers loss or damage to your home's contents due to any of the policy's listed perils such as fire, theft, vandalism, explosion, etc., and your smartphone would fall within the contents category just like your TV, refrigerator or clothing. The problem here is that these things must occur within the home. Your smartphone, however, likely travels with you wherever you go and isn't confined to your home like your refrigerator is!

While Away From Home                                   

If you're on vacation and your camera or your smartphone is stolen from your hotel room you may find that your home insurance policy will cover this loss since theft is one of the perils covered in your policy. If you accidentally drop it off a bridge into the river below or it falls out of your pocket and is run over by a bus, these are occurrences that rarely would be covered.
That being said, it may be possible to add a rider to your home insurance policy that would cover your smartphone for any loss or damage. This would certainly increase your premium amount somewhat and you would have to deal with paying the deductible amount when making a claim.

Speaking of Deductibles

Most people carry homeowner's insurance as protection against actual disasters like a house fire or the roof being blown off in a windstorm, not for small claims like a lost smartphone. In many cases, the cost of the deductible could be as much as the cost of replacing the phone yourself, so making a claim just wouldn't make sense. In addition, making a claim will likely cause your premium rates to increase come renewal time, not to mention it would cause you to lose your “no claims” discount if this is something your insurer offers.

The best advice is to consult your insurance broker to see exactly what your policy covers regarding your cellphone. A viable option is to obtain separate gadget insurance for your phone.

How Much Does Greensboro Car Insurance Cost for Teens?

Unfortunately, for those just starting out driving an automobile here in North Carolina, Greensboro car insurance can cost them more per year than any other risk group, including individuals with bad driving records, reckless driving histories and even a DWI conviction. This doesn't always have to be the case, however, as there are a number of ways that teens can lower their car insurance costs, which we'll discuss here. But first, let's talk about why teen drivers are charged so much by car insurance companies.

It's All About Risk Versus Reward

According to the U.S. CDC , car crashes are the number one cause of death among American teens aged 15-19. This is due primarily to the fact that these young drivers are inexperienced at handling everything that can happen while on the road and not always mature enough to make the split-second decisions sometimes required while controlling a large, cumbersome vehicle.

Insurers are in the business of balancing the risk of underwriting their assessment of the capability of young, inexperienced drivers to drive safely and sanely against the premium dollars they earn when everything goes according to their hopes, which is zero claims. The fact is, because the risk is higher with teens the premium charges must also be higher in order to make ends meet.

What Does it Cost to Insure a NC Teen?

Since teens pay more for car insurance than any other age group, it's especially important to take advantage of every possible discount insurers offer and even to give serious consideration to an insurance company that offers multiple discount options. Here are some typical discounts offered by insurers:

• Safe driver discount for having a clean driving record
• Good student discount for maintain good grades (for those still in school

The most expensive option for a teen driver to get a Greensboro car insurance policy is to have their own policy on a car where they're the principal driver. At age 16, this policy would likely cost more than $8000 per year, which few teens can afford.

Getting put on their parent's insurance plan as a secondary driver is much less expensive, as explained on this NCDOI website. At age 16, with no accidents, their car insurance cost would add less than $1500 per year to their parents’ policy. Consider this "piggyback method" of teen insurance.

How Can I Lower My Greensboro Home Insurance Premiums

Ensuring that you obtain adequate, affordable Greensboro home insurance when purchasing a home in the Greensboro area is an important facet of the house buying process. Using an independent insurance broker who will provide you with multiple quotes from a variety of insurers will ensure that you have the widest range of options when deciding what company to select for your homeowner's coverage, and it should be noted that, depending on which insurer you choose, insurance costs can vary by hundreds of dollars per year for basically the same coverage. You should also not limit your choice simply to cost, as service quality is an important aspect of the total insurance package.

Once you've obtained your homeowner's insurance policy, you may be tempted to just throw it in a file and forget about it unless something happens that requires you to refer to the document. This is an all too common mistake. Experts agree that you should regularly revisit the terms of your insurance policy, preferably on an annual basis, and to update it, as needed, if anything changes regarding the condition of your home such as the building of an addition or the installation of a security or sprinkler system, both of which should lower your premium rates.

Lowering Your Greensboro Home Insurance Premiums

There are other ways to lower your homeowner's insurance premiums besides the two just mentioned, and one of the easiest methods for learning ways to do this is to ask your insurance agent what he/she can suggest for your specific needs. While changing insurance providers could be one option for lowering your costs, there are others that could also be helpful in saving you some premium dollars. Consider these:

• Raising your deductibles should lower your premium rates.
• Make sure you're not carrying coverage on the land your home occupies as the land isn't at risk for most of the perils your homeowner's policy covers.
• Increase your home's security profile by adding an alarm system, smoke and CO2 detectors, deadbolts on all exterior doors and window grilles. Make sure these window grilles are legal for allowing quick fire egress.
• Seek discounts from your insurance provider such as one for insuring your car, life and home with the same company.
• Look for a discount available to those paying their premiums annually rather than monthly.

For more ideas, consult your trusted insurance broker.