With Erie Insurance’s new program, YourTurn®, you can earn gift cards to your favorite places like Dunkin’® or Starbucks®.
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Is there a way to earn rewards for good driving?
May 15th, 2024 by LacherWhat’s happening with home and auto insurance rates?
February 1st, 2023 by Ally KeenanEveryone knows inflation hits us hard. Products and services cost more money – including your insurance premium. But why? Why have prices risen? Take a look at this list* from our friends at Erie Insurance.
Home Insurance Rates
Inflation: The Consumer Price Index (CPI) has risen more than 9 percent since July. That means we’re all spending more for the same goods and services.
Labor shortages: Labor market pressures have driven repair costs up even more with fewer available workers, extending timeframes for getting work done.
Building materials: Inflation is even higher when it comes to many of the materials commonly required for home construction and repair.
Extreme weather: Major destructive weather events such as hurricanes and wildfires are on the rise. This leads to trends where claims are both more frequent and more expensive.
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Auto Insurance Rates
Repair Costs: Supply chain issues and labor market pressures have driven up repair costs by as much as 20% since 2020.
Vehicle Parts: Inflation has hit vehicle parts especially hard, with those prices up by 10% this year. (2 to 3% is more typical.)
Pricier Tech: Cameras and sensors help keep us safe, but cost more to replace if damaged, with some common vehicles now having 30+ pieces of tech not present on older models.
Vehicle Prices: Prices for used vehicles jumped more than 27% in 2021. New vehicle prices are up more than 14%.
Inflation: The Consumer Price Index has risen more than 9 percent, as of July. That means we’re all spending more for the same goods and services.
Labor shortages: A decline in available auto techs isn’t just a pandemic challenge, with 100,000+ facing retirement in the coming years.
Let us help you!
Contact us today to see how we might be able to help lower your premium.
*Source: Bureau of Labor Statistics and CCC Crash Course 2022 from CCC Intelligent Solutions
I was in a car accident. What do I need to do?
December 22nd, 2022 by LacherHere's what to do if you get in a car accident.
In the event that you get into a car accident, it’s important to know how to react and make sure that the process goes as smoothly as possible. Whether it’s a fender bender or rear-end collision, consider the following guidance on how to respond after a crash.
- Get out of your vehicle and try to help anyone who is injured.
- Call the police or highway patrol immediately.
- Take photographs of your damaged vehicle and the scene. Note the date and time that the images were taken.
- Protect the accident scene by setting up flares, putting up cones or moving your vehicle off the road. Keep these items in your trunk at all times in the event of an accident.
- Once the police arrive, give them as much information as you can about what occurred. Do not admit fault; simply give the facts.
- Ask the investigating officer for a copy of the police report, as you may have to submit it with your insurance claim.
- Take as many notes and write down as many details as you can remember about the accident, and then call Lacher to report your claim.
- Keep all records of correspondence that you have regarding your claim, including the date, name and title of the person that you talked to about the accident.
- Keep a record of any expenses that you incurred as a result of the accident. Depending on your policy, you may be entitled to reimbursement for those expenses.
Don't forget to gather the facts
This may sound easy, but many people forget to record the facts after an accident for one reason or another. It is important to get the names, address and phone numbers of everyone involved. Also, gather a description of the car(s) and license plate number(s), and make sure to get the insurance company and the vehicle identification number of everyone involved when you’re at the scene of the accident. For additional coverage guidance, contact us today.
Winter Driving Checklist
November 15th, 2022 by LacherIs your car ready for winter driving?
Losing control of a car is
undoubtedly one of the most frightening experiences behind the wheel.
Unfortunately, it is a potential side effect when the temperatures turn frigid
and the roads get slick with ice or snow.
One of the most dangerous winter
driving hazards is skidding, which, at high speeds, could result in a nasty
crash. To prevent an unnecessary skid, slip or accident, consider the following
accident prevention techniques.
- Slow down ahead of turns and curves, as this will allow you to prepare for potential icy spots.
- When at a curve, apply power slightly to the gas and steer steadily. Do not change directions abruptly and refrain from braking suddenly.
- Be prepared for lane changes. Check your rearview mirror and blind spot, and then signal your direction to alert other motorists.
- When changing lanes, move over in a long, gradual line with minimal steering changes.
- Look out for ice patches, piles of wet leaves and shady areas. These areas are skidding hazards.
- Anticipate stops by slowing down gradually, well ahead of intersections. These areas are generally slicker than other parts ofthe road because of the excess starting and stopping traffic.
- Drive at reduced speeds. Slow your speed and increase your following distance behind the vehicle in front of you. This will allow for a larger buffer in case you start to lose control.
- Avoid overpowering in deep snow.
- Use a light foot on the accelerator (rather than slamming on the gas to move forward).
If You Start to Skid
If your car starts to skid, do not panic. Steer in the direction that the vehicle is sliding until you feel the wheels regain traction. Then, slowly straighten your wheels and keep rolling.
If you need to brake before your tires regain traction, apply the brake carefully so that you do not lock your wheels
Contact your Lacher team to learn more.
How is Pothole Damage Covered?
February 21st, 2022 by LacherYou've hit a pothole. Now what?
Road potholes are especially prevalent in the winter months and can cause significant damage to your automobile. You may wonder if your auto insurance covers pothole damage.
The good news is, if you have collision coverage included with your auto insurance policy, you are most likely covered. Let’s take a brief look at the difference between collision and comprehensive coverage.
Collision coverage
Collision coverage pays for the cost to repair damages to a vehicle due to an accident, either with another vehicle or an object (like a pothole).
Comprehensive coverage
Comprehensive coverage pays for damage to your vehicle that is caused by theft, vandalism, fire, natural disasters or hitting an animal.
How does insurance cover the pothole repair cost?
The repair cost to fix the damage caused by hitting a pothole is subject to your collision insurance deductible. The deductible is the amount you pay out-of-pocket before insurance picks up the cost.
Generally speaking, the lower your deductible, the higher your premium (this is the amount you pay for auto insurance coverage).
So when you purchase collision and comprehensive insurance, you select a deductible amount that fits your budget.
For example, if you select a collision deductible of $500, this is the amount you will pay before your auto insurance coverage picks up the rest of the repair cost.
Our recommendation: get fully covered with collision and comprehensive coverage
Though your state laws may not require you to purchase both collision and comprehensive coverage for your automobile insurance policy, it makes perfect sense to do so. These coverages provide specific protection for various losses, which can cost you big in the event that your vehicle is damaged or stolen.
Contact your Lacher team to learn more.
Customizing Your Vehicle
January 20th, 2022 by LacherCustomize Your Automobile Policy Too
If you’re one of those who enjoys getting more out of his or her car than just getting to your destination, you should be aware that any customizing that you do to your vehicle impacts your auto policy. Before you add custom paint and bodywork, it’s best that you customize your auto policy.
Custom Parts and Equipment Coverage
A basic auto policy’s collision or comprehensive policy provides insurance only for the original equipment included by the manufacturer. If your vehicle has special equipment or permanently installed custom parts that alter its appearance or performance, optional custom parts and equipment coverage may be for you.
Special equipment includes the following:
- Customized paint or decals
- Customized wheels, spoilers, suspensions or performance-related equipment
- Stereo or television equipment
- Running boards, roll bars or brush bars
- Undercarriage lighting
- Bed liners, camper shells and trailer hitches
Your Vehicle's Standard Book Value
Within the limits that you select in your policy, custom parts and equipment coverage reimburses you for the actual cash value, the declared value or the actual cost to repair—whichever is lowest.
Keep in mind that every car has a standard book value which is used to calculate the payout in the event of a total loss. You should know that insurance payments reflect what a car would be worth at the time of the loss, not what was paid for it, so the cost for modifications may be difficult to recoup in the event of a total loss.
The Bottom Line
Before you purchase those specialty rims or customize your grille, we can help you determine your best coverage options to keep your customized ride covered.
To make sure you have the right coverage for your customized vehicle.
How to Lock In Your Auto Insurance Rate
October 7th, 2021 by LacherDid you know that you could lock in the price you pay for auto insurance?
With ERIE® Rate Lock, you can do just that!
Our partnership with Erie Insurance and their Rate Lock feature can help you avoid car insurance rate increases*. Even if you have a claim, your rates won’t change until you make certain changes to your auto insurance policy, such as adding or removing a vehicle or a driver from your policy or changing your primary residence.
With ERIE® Rate Lock, you will pay the same premium year after year.
We’d like to explain the details in person or on the phone. Contact us today to get an auto quote that includes the Rate Lock feature. Stable insurance rates—it’s a nice change of pace for your household budget.
Here are other ways you could save
Listen to Molly discuss auto insurance surcharges, and ways in which you could save money on your auto insurance.
*Rates subject to change if you add or remove a vehicle, add or remove a driver, or change your address or the place you usually park your car. Erie Rate Lock® does not guarantee continued insurance coverage. Not available in all states. Limited to three years in Virginia. Insured must meet applicable underwriting guidelines. Premium may change if you make a policy change. Refer to our disclaimer for more information.
Contact us to learn more about ERIE® Rate Lock.
9 Reasons to Get Umbrella Insurance
August 24th, 2021 by LacherDo you need Umbrella Insurance?
Umbrella insurance provides an extra layer of protection if you’re held responsible for injuring someone or damaging their property. An umbrella policy can offer coverage if you incur claim expenses that exceed the limits for your homeowners, auto or other personal liability insurance policies.
Nine Reasons to Consider Umbrella Insurance
1. You have significant savings or other assets.
2. You want to protect against potential losses of income.
3. You own property (especially investment property)
4. You own a business
5. You coach youth sports
6. You are a landlord
7. You participate in activities that could easily injure others
(e.g., skiing or surfing)
(e.g., skiing or surfing)
8. You own items, property or pets that can lead to injury lawsuits
(e.g., pools, trampolines, guns or certain dog breeds).
(e.g., pools, trampolines, guns or certain dog breeds).
9. You have inexperienced drivers in your household
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Contact us to learn more about Umbrella Insurance
No matter your net worth, umbrella insurance can serve as a fail-safe to protect your savings and assets. This coverage is important, affordable and vital for numerous situations. For more information, contact us today
Does Your Auto Insurance Cover Rental Cars or Trucks?
July 29th, 2021 by LacherShould you purchase insurance through the rental car or truck company?
When renting a car or truck, the rental company will typically ask if you’d like to purchase insurance coverage for the vehicle. It’s at this point when you have to ask yourself: Do my personal insurance policies provide the coverage I need, or should I purchase insurance through the rental car/truck company?
Although standard auto insurance policies may extend to rented vehicles, you should never assume you are protected. Examining your own auto insurance policy will show you the types of coverage you already possess and where additional coverage may be needed. Since auto policies differ, it’s a good rule of thumb to contact Lacher so we can help you navigate your policy and determine if you have the appropriate amount of coverage when renting a vehicle.
Examining Your Insurance Policies
When deciding whether or not your personal insurance will cover your rental car or truck, there are a few different coverages you should have. If you answer yes to all of the following questions, you may not need to purchase additional coverage:
- Do you have liability, collision or comprehensive car insurance? Liability, collision and comprehensive insurance are the three main coverage options available when purchasing car insurance. Although it is not always required to purchase all three coverages, they can optimize your protection in the event of an accident.
- Liability insurance provides coverage if you damage or injure another person or their personal property.
- Collision insurance provides coverage if your vehicle is involved in a collision, either with another vehicle or object.
- Comprehensive insurance provides coverage if your car is damaged by a variety of exposures such as theft, vandalism or natural disasters.
- Does your policy cover administrative fees, loss of use or towing charges? It’s always a good idea to check whether your insurance policy pays for—or provides a rider for—additional fees associated with rental cars. This coverage can be helpful if a car you rent is lost, stolen or damaged.
- Do you have a renters or homeowners policy that will cover your belongings if lost or damaged? Your homeowners or renters insurance policy covers your personal belongings from theft, fire or vandalism within your home. Policies often include off-premises coverage that can extend your coverage to outside your residence. Therefore, if personal belongings in your vehicle are stolen or damaged, your homeowners or renters insurance policy may be able to cover a percentage of your losses. Not all insurance policies will extend coverage to protect personal belongings within your vehicle—always check with Lacher to see what your renters or homeowners policy covers.
What Is Rental Car or Truck Insurance, and What Does It Cover?
Car and truck rental companies provide additional coverage that is often used to supplement insurance you already possess.
Rental car and truck agencies offer four different coverage options:
- Supplemental liability insurance: Most car and truck rental companies need to have the minimum amount of liability coverage required by the state, but oftentimes it isn’t an adequate amount of coverage. If you have a personal car insurance policy with a high liability limit, you may not need additional protection.
- Loss damage waiver (LDW)/collision damage waiver (CDW): This is not insurance per se, but rather a document that can alleviate your financial responsibility should your rental vehicle be damaged or stolen. This also includes loss of use coverage if the rental company charges you for the amount of time the car could not be used while being repaired, as well as other administrative fees the car or truck rental agency assesses. The LDW may become void if the incident occurred from the driver of the rented vehicle exhibiting reckless behavior, speeding or the vehicle being driven on unpaved roads.
- Personal accident insurance: This will cover the driver and any passengers within the rented vehicle for any medical bills caused by a car crash. This coverage is useful if you do not already have health insurance or personal injury protection insurance.
- Personal effects coverage: This covers any personal belongings that are stolen from the rental vehicle. If you already have renters or homeowners insurance, this may already be covered under your policy.
The coverages offered are oftentimes the same as what you already have for your personal car insurance. Again, to avoid paying for coverage you already have, review your policy before renting a vehicle.
Does Your Credit Card Provide Rental Insurance?
Many reputable credit card companies offer rental insurance to their customers. To utilize this secondary form of coverage, you must put the total amount of the car or truck rental on your credit card. In many cases, credit card companies will also require you to deny any insurance offered by the car or truck rental agency in order to access their coverage. In the event that your rental vehicle is in a covered incident, the credit card company will help cover costs of damage or theft up to a certain dollar amount. Various rental car or truck fees can be covered by your credit card, but this can vary by provider.
Before purchasing any additional coverage through the rental facility, call your credit card company to see if your card offers car or truck rental insurance. Since most credit card rental insurance is classified as a secondary form of coverage, you may need to rely on your personal auto insurance coverage first.
Contact Us to Ask About Your Policy
Deciding on your rental car or truck coverage can be a tricky endeavor. Before purchasing any extra coverage, talk to Lacher about your personal auto insurance policy and whether you may need to purchase any additional insurance. No one wants to pay more for their auto insurance, and you shouldn’t have to.
If you have any questions or are unsure if rental vehicles are covered under your policy, contact Lacher today.
Collision vs. Comprehensive Coverage – What’s the Difference?
July 21st, 2021 by LacherWhat's the difference between collision and comprehensive insurance coverage?
Though state laws may not require you to purchase both collision and comprehensive coverage for your policy, doing so can protect your financial well-being. Read on to learn more about these types of coverage.
The Basics
Collision and comprehensive coverages provide financial safety nets in the event that your vehicle is physically damaged and needs to be repaired or replaced. Although these coverages are generally not required by state laws, they can reduce your financial hardship during a loss.
Also, if you are financing a loan for a car, your lender will most likely require both collision and comprehensive coverage as part of your car insurance policy.
Collision Coverage
Collision coverage pays for the cost to repair damages to a vehicle due to an accident, either with another vehicle or an object. Typically, you will collect only the actual cash value of your car versus the replacement cost value. Gap insurance protects you in the event you owe more than your vehicle is worth.
- Collision coverage is generally the most expensive portion of a car insurance policy.
- Premiums are based on a number of factors, including your deductible, driving record and the type of car you drive. If your driving record is fairly clean (no or very few tickets or accidents), your premiums will be lower because you are less likely to have a collision.
Comprehensive Coverage
Comprehensive coverage pays for damage to your vehicle that is caused by theft, vandalism, fire, natural disasters or hitting an animal.
- Comprehensive coverage comes with a deductible and the insurer will only pay as much as the vehicle is worth at the time of the incident.
- To calculate how much your car is worth, look up the Kelley Blue Book value or the National Automobile Dealers Association’s Official Used Car Guide value. If your car is low in value, the yearly premiums for comprehensive coverage may not be a sound investment.
- Comprehensive coverage has many limitations, so it’s best to review your policy carefully to make sure you are properly covered.
