toledoblade.com -- Insurance Talk with Michael Carroll

Michael Carroll will take questions regarding property and casualty insurance on December 6, at 2:00 p.m.

Carroll Insurance, Inc. was founded in 1991 and can offer insurance products from a number of different companies including Central Insurance and Indiana Insurance. For further information, please contact Michael Carroll at 419-897-0101.

Michael Carroll is a 1987 graduate of Bowling Green State University. Michael is also a featured speaker and author regarding marketing.

2:45 - The Chat has ended. Thank you for your questions.

1) QUESTION: What is the biggest factor driving auto and home insurance pricing these days?

ANSWER: Although, driving records and claims experience play a part in pricing determination, credit is currently the biggest driving force in premium determination

2) QUESTION: Should I pay for insurance from a rental car agency while renting a car?

ANSWER: Usually NO, although there are insurers or situations where it MAY make sense to pay for that extra coverage. Check with your insurance professional for specific examples

3) QUESTION: What deductibles make the most cost effective sense to carry today?

ANSWER: No doubt, this is an affordability question specific to each own individual's situation. Today the most commonly chosen auto and home deductibles are $500. Although, if you can afford $750 or greater deductibles in the event of a claim, immediately do so. The premium savings are worth it!

4) QUESTION: Should I file a towing claim on my auto insurance, if I have that coverage available?

ANSWER: Certainly if you have that coverage you can legally file for reimbursement, YET to insurers, a claim is a claim regardless of the amount. The wise advice is to stay off of the radar. Get AAA for towing and all of the other benefits offered.

5) QUESTION: What is an Umbrella policy and do I need to purchase one?

ANSWER: The term "umbrella" applies to liability coverage only. It protects all of your liability in increments of $1,000,000 of coverage. Priced very inexpensively, it is a great value. YET, each consumer has different risk, so is it for you? Consult with you insurance professional to see if you do indeed need this coverage.

6) QUESTION: If I loan my car to a friend or family member if they get into an at fault accident, their insurance will cover the liability and repairs to my car, true or false?

ANSWER: False! The rule of thumb IN OHIO is that insurance follows the car. So ALWAYS be extremely careful whom you lend your auto to at all times!

7) QUESTION: What is the difference between and independent insurance agency and a direct writer insurance agency?

ANSWER: An independent insurance agency represents numerous insurers and is more able to secure the best deal for you. A direct writer insurance agency (State Farm, Allstate, Nationwide) is a company employee or a hybrid of some sort who ONLY writes for that company and is bound to one set of rules, rates, etc. In most cases, working with an independent insurance agency is by far in the consumer's best interest.

8) QUESTION: Should I insure both my cars and home and whatever else I own with the same insurer?

ANSWER: YES! The average discount is 20% for having at least your home and autos insured with the same company, PLUS you gain more leverage with an insurance company if you have multiple policies in the event of claims, etc.

9) QUESTION: How often should I shop my car and home insurance?

ANSWER: Depends. If you are currently being serviced by a top flight professional who has affordable pricing, then stay put. YET, if you have really no relationship with your current professional, by all means take the 15 minutes to gain a proposal from an independent agency in that they will shop the market place for you.

10) QUESTION: Can Carroll Insurance quote my car & home insurance or even my business insurance?

ANSWER: By all means, YES! Please call the office at 419 897 0101 and will take you all of 15 minutes tops to get a qualified professional evaluation. Either way you win! You either find out you have an excellent insurance program in place OR you find out that there are better options available for you!

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