Insuring Teenagers

Insuring teenagers can seem daunting in light of teaching and training young drivers to take the wheel for the first time. It’s essential to contact your Guy Hurley McNeil insurance representative once your child has obtained their learner’s permit to ensure they are covered while they learn. 

Motorists in Rochester Hills, MI are required to carry PIP or personal injury protection because Michigan is a no-fault state. This means that drivers are required to purchase insurance that covers their own medical expenses in the event of an accident, regardless of who caused the collision. 

Residual bodily injury protection is also mandated by law, with minimum limits set to $250,000 per person hurt or killed or $500,000 per wreck. Property damage liability is another indemnification required by law to protect out-of-state drivers, and $10,000 in coverage must be obtained. These insurances will pay for any medical costs and property damage that exceed the driver’s insurance caps. 

A driver’s education course may teach them safe driving habits and reduce their premiums. Encourage them to pay attention to the road by discouraging cell phone use while on the road by setting limits. 

You may further reduce insurance costs by bundling your homeowners and automobile policies. Usually, you can add a teen to your existing policy or procure one of their own. Teens may receive discounts for maintaining a particular grade point average.

Guy Hurley McNeil Can Help 

We specialize in tailoring insurance packages to your needs, including insuring all your eligible family members. Contact us with any questions, and we invite you to stop by our office to discuss your situation today. We serve those living in and near Rochester Hills, MI. 

Why Is the Home Insurance Provider Asking…?

When you are looking to obtain a new home insurance policy, the insurance company may ask several questions. When asked some of these questions, you may immediately understand why the insurance company is asking. However, there are other questions that you may be asked, and you may not understand why. At Guy Hurley McNeil, serving the Rochester Hills, MI area, one of our customers asked why their home insurance provider is asking how far away the nearest fire hydrant is from their home. Read along as we explain why an insurance company would be asking you, the homeowner, this question. 

How Far Away Is the Nearest Fire Hydrant?

While it may seem like a strange question, your home insurance company is asking how far away the nearest fire hydrant is to determine how quickly a fire department can start to douse your home if a fire happens. The closer you are to a hydrant, the faster firefighters can begin to put out the fire. This may minimize or limit the spread of the fire and, thus, limit or reduce the damage that the fire does to your home.

A home insurance company may ask specific questions to determine how much risk they are taking when insuring you. If you are in the market for a new home insurance policy in the greater Rochester Hills, MI area, Guy Hurley McNeil would love to help you get the insurance you need. We can also help answer any questions the insurance company may ask you. Reach out to us now to get started. 

How much auto insurance do I need?

It’s no secret that car insurance can be expensive. But how much do you need? How can you get the best rates? In this blog post, we’ll answer all of those questions and more. We’ll help you determine how much car insurance you need, learn about the factors that affect rates and find ways to save money on your premiums. So whether you’re shopping for car insurance for the first time or just looking to save a few bucks, read on for tips and advice that will help you get the coverage you need at a price you can afford.

Let’s talk about how to determine how much car insurance you need. The first thing to remember is that there is no one-size-fits-all answer here. Every driver has unique needs and circumstances, and the coverage you need will depend on several factors, including where you live, how much you drive, and the type of car you own.

One helpful rule of thumb is considering the combined value of your home, property, and car. If it exceeds a certain amount (for example, $100,000), you’ll likely need more extensive coverage to protect yourself in case of an accident or other loss.

Another critical factor to consider is your record as a driver. If you have a history of accidents or moving violations, insurance companies may consider you a higher risk – and that means you’ll likely have to pay more for coverage. On the other hand, if you have a clean driving record, you may qualify for lower rates.

If you have any questions or want to explore your options, please give us at Guy Hurley McNeil a call today. We proudly serve the Rochester Hills, MI area.

Three things to know about auto insurance

Getting auto insurance coverage is one of the most important things you need to do as a vehicle owner. It’s important to do your research to understand auto insurance and choose the right policy.

At Guy Hurley McNeil, we offer auto insurance coverage to motorists in the Rochester Hills, MI area. The following are three things you should know about auto insurance as a Michigan driver.

Liability coverage on your auto insurance policy is required by law.

The most important reason why you need auto insurance is that it is required by law so that you can drive legally.

You must carry liability coverage to meet the requirements of your state’s DMV requirements. Failing to carry the liability coverage required in your state can lead to severe penalties. 

Your driving record can impact your auto insurance costs.

If you want to save money on your auto insurance, you should focus on avoiding driving infractions. If you have a lot of infractions, such as speeding tickets and moving violations, on your record, you can expect auto insurance to be more expensive. 

A higher deductible can reduce your premium costs.

Motorists need to understand the relationship between deductible amounts and premium costs on auto insurance policies.

If you choose a higher deductible, you’ll have to pay more to get coverage if you need to file a claim. However, you’ll also generally enjoy lower monthly premiums if you choose a higher deductible. A lower deductible amount usually means higher monthly premium costs. 

Contact us at Guy Hurley McNeil to learn more about auto insurance. We can help you meet your auto insurance needs in Rochester Hills, MI.

Three things you need to know about home insurance reform

If you’re in the market for a home insurance policy in Rochester Hills, MI, you should research home insurance reform efforts that impact your policy options. Guy Hurley McNeil can answer your questions about home insurance and home insurance reform.

The following are three things you need to know about home insurance reform. 

Home insurance reform may bring down premium costs for consumers.

Home insurance reform may regulate the costs that insurance providers can charge property owners.

This ensures that home insurance stays affordable for property owners in the state or community where home insurance reform measures have been implemented. 

Home insurance reform may also reduce the number of lawsuits considered frivolous.

Frivolous lawsuits cost money and may push up the costs of home insurance. Certain home insurance reform measures may prevent frivolous lawsuits that cost both home insurance providers and consumers money. 

Home insurance reform efforts may also involve regulations regarding the financial reserves of home insurance providers.

Home insurance providers need adequate financial reserves to honor their policyholder’s file claims. Home insurance reform efforts can specify a certain amount of financial reserves that home insurance providers need to have in order to offer home insurance policies in a given area.  

Financial reserves make the policies offered by an insurance company more secure and ensure that a home insurance provider will have adequate funds available when a claim is filed. 

We can help you get answers to your questions about home insurance reform in Rochester Hills, MI. Contact us at Guy Hurley McNeil if you’d like to know more about meeting your home insurance needs. 

What are the standard auto insurance liability levels in Rochester Hills, MI?

Auto insurance is a necessary component for driving in Rochester Hills, MI. The lack of insurance is a misdemeanor in the state, which means you could be fined, go to jail, or lose your license. So, you must obtain a policy immediately. Here are the minimum liability levels.

Michigan Injury Liability Coverage

According to the Guy Hurley McNeil Agency, you need bodily liability insurance to cover claims against you for injuries related to an auto accident. Minimal coverage must equal $250,000 or more for each individual. In addition, it has to cover $500,000 per accident. If you don’t make a selection during the initial signup process, the insurance agency defaults to the limits of $250,000/$500,000.

Under Michigan law, you have the choice to select lower bodily liability limits as long as you sign a form understanding the consequences. However, if you injure someone in Rochester Hills, MI, or another area in the state, you could face seizure of assets and the garnishment of your wages. 

Michigan Collision Liability Coverage

Michigan doesn’t require drivers to have collision coverage in their auto insurance policy. Thus, the following could occur if you decline to purchase the liability package:

  1. Repairs are out-of-pocket when you get into a single-person accident (you’re the only party involved).
  2. If another vehicle causes an accident, you only receive $1,100 toward repairs as part of a mini-tort. 

For these reasons, adding collision liability coverage is recommended to keep your car on the road.

Do you have further questions related to Michigan’s auto insurance minimums? If so, reach out to the Guy Hurley McNeil team for more information. 

Home Insurance News from Around the United States.

According to researchers, Florida governor Ron DeSantis’s new home insurance reform bill could positively impact policyholders. The bill is said to bring more competition to the market and make it easier for consumers to shop around for the best rates.

The new bill will also make it easier for policyholders to file claims and get their claims paid out promptly. This is good news for Florida homeowners dealing with insurance companies that are slow to pay out on claims or deny claims altogether.

What Reforms Were Enacted?

The Florida Legislature passed a bill in 2022 that reformed how insurers can calculate premiums for homeowner’s insurance. The reforms aim to make premiums more fair and affordable for policyholders. Some of the key reforms that were enacted include:

  • No attorney fees for assignees
  • Adjustment of claims
  • Pre-suit notice before policyholders can file suit
  • No attorney fee multipliers

How Will These Reforms Impact Policyholders?

The most significant impact of these reforms will be felt by those paying higher than average premiums. Many of these policyholders may see their rates go down due to the reforms.

For example, if you have been paying higher than average premiums because you live in a high-risk area, you’ll no longer be penalized for that risk factor. Insurers can now use different risk factors when determining rates, which means your premium could go down.

Conclusion

The new home insurance reform bill in Florida could be good news for policyholders. The reforms enacted should make premiums more fair and affordable. They’ll also make it easier for policyholders to file claims and get their claims paid out on time.

If you’re a homeowner, contact Guy Hurley McNeil in Rochester Hills, MI, today to learn more about how home insurance can benefit you and to get a quote on a new policy. Our team is here to help you navigate the Michigan home insurance market changes so that you can make the best decision for your family.

Auto Insurance Reform: What to Expect in The Future

There have been many changes in the insurance sector over the last couple of decades, and one of the segments that has experienced tremendous reforms is auto insurance. Auto insurance is poised to undergo more extreme changes soon, thanks to the fast-evolving environment. As a car owner in Rochester Hills, MI, here are the auto insurance reforms that you should expect in the future.

A Reduction in Premiums and Cost of Insurance

Autonomous vehicles are already catching on momentum, and they will soon be the norm thanks to improved autonomous technology. Autonomous cars are perceived to be safer than standard vehicles because of the numerous driver-assist and safety technologies. At Guy Hurley McNeil, we believe that drivers will experience up to a 26% reduction in the premiums and the cost of their insurance due to this improved safety.

A Reduction in Claims Denials

Most auto insurance claims that insurers deny are turned down based on a lack of sufficient evidence supporting the car owner’s claim. However, moving into the feature, most vehicles will be fitted with multiple cameras that record what’s happening around the car at all times. The captured footage will be irrefutable evidence for car owners making claims on theft or accident compensation. This means they will likely get compensated, and there will be reduced claims denials.

An Increase in Damage Severity

Although autonomous vehicles will reduce the likelihood of accidents, the accidents will cause more severe damage to the cars. This is because, in the future, cars will have more sensors like radar mounted on their bumpers to enable autonomous driving. Damage to the front bumper resulting from an accident will also mean damage to the radar, resulting in more expensive repairs. Those with lean coverage will feel the pinch of the increased damage severity and the associated high repair cost the most because they have to pay for most repairs out of pocket.

Contact Guy Hurley McNeil to get the best auto insurance deal in Rochester Hills, MI.

What Michigan residents need to know about home insurance reform

If you live in the greater Rochester Hills, MI area, you may be wondering about home insurance reform. The team here at Guy Hurley McNeil is here to answer your questions and address the concerns that you may have. Give us a call or stop by today to learn more about our area’s home insurance options.

Home insurance reform

After the state passed auto insurance reform measures, many Michigan residents wondered if there would soon be changes coming to home insurance. As of the writing of this article, there have been no such measures taken. This is an area that many people are paying attention to, and there is no doubt that if it does become an issue, there will be plenty of press coverage. 

While we await home insurance reform, it is a great opportunity for residents to take a closer look at their current policies. Many home prices in our area have increased significantly in recent years, and it’s vital that your homeowner’s policy also keeps pace with those increases.

If it’s been a while since you’ve had a review of your insurance portfolio, now is a perfect time. Our insurance needs can change, and we often don’t address those changes immediately. If we wait too long to make adjustments, we may end up with gaps in our insurance protection. Why not take the time now to ensure that all of your ducks are in a row?

We are here for you!

The community of Rochester Hills, MI can count on Guy Hurley McNeil as its insurance resource. We are here for you, whatever you need! When it comes to insurance, you can count on us. Call or stop by our office today.

What Michigan residents need to know about home insurance reform

Rochester Hills, MI area residents may be familiar with all of the recent changes due to auto insurance reform. These policies were enacted in 2020 after being introduced in 2019. These reforms have gotten a lot of people wondering if other insurance reforms may occur in the future. The team at Guy Hurley McNeil is staying on top of the situation to keep our clients informed.

Home insurance reform

Presently, there are no home insurance reform measures in place. Of course, we all know that this can change in the future, but there is nothing active at this article’s publication.

If you are concerned about insurance reform and how it could impact you and your current policies, we are here to tell you not to worry. When it comes to governmental change, these things take time. You will surely hear about any attempts at reform long before they become enacted into law.

There is always a time for discussion after reform is introduced, and those talks usually receive a lot of attention. If you are worried, there’s no need to be, as any change that does occur will take time. And, even after reform is introduced, discussed, and becomes law, the changes will not be immediate. 

Any change voted into law will not be enacted until a future period, and the public will be given plenty of notice. 

Give us a call today!

Guy Hurley McNeil is here to provide the greater Rochester Hills, MI area with the insurance guidance it needs. If you have any questions or concerns about insurance, give us a call or stop by our office today. We are here to help you!