How is Home Insurance Reform Relevant to me as a Michigan Homeowner?

Michigan residents aren’t required to carry homeowners insurance by law. However, many lenders may still require that homeowners purchase this insurance as a way of protecting their investment-your home. Michigan is also a state that has no regulation of rates when it comes to homeowner’s insurance. This means that insurance companies can set their rates without having to abide by any state regulations. Home insurance reform has impacted states like Florida and Colorado and created change in the way insurance companies can operate as well as how much homeowners pay for insurance. If anything, Michigan residents aren’t faced with a lot of guidelines and requirements when it comes to home insurance. Michigan doesn’t require homeowner’s insurance and home insurance companies aren’t regulated by the state. This is one of the reasons why home insurance reform may not impact Michigan residents as much as it has impacted others in other states.

Michigan Homeowners Insurance Laws

Guy Hurley McNeil is committed to providing understanding and guidance to Rochester Hills, MI residents when it comes to homeowner’s insurance. Because this type of insurance isn’t required in the state of Michigan by law, it’s intensely important that insurance agents guide and advice residents about the type of coverage and insurance that is truly best for their unique situation. If you’re a Michigan resident that’s purchasing a home, most lenders will require that you carry homeowner’s insurance. This is a smart way of protecting their investment int the event of some unforeseen circumstance. If you are financing your home or condo, many lenders will still require you to carry this type of insurance. 

If You Fail to Purchas Homeowners Insurance

If a lender requires you to carry homeowners insurance proof of insurance will be required. If you fail to purchase homeowner’s insurance As a homeowner who is financing their house or condo, the lender has the right to buy the insurance on your behalf and take payments for this insurance through an escrow account. Although this type of insurance isn’t a requirement, homeowners will more than likely still have to invest in it because most homeowners can’t pay for their home outright, they have to finance their home through a lender. Home insurance reform hasn’t impacted the way insurance companies do business in Michigan because this type of insurance isn’t regulated by state law and its not a legal requirement. This makes it necessary for homeowners to carefully compare insurance companies and choose the one that best suits their budget and their unique needs. 

How Auto Insurance Reform Could Affect Your Policy

At Guy Hurley McNeil, we want to make sure you understand the auto insurance reform taking place in Michigan. If you’re in or near the Rochester Hills MI area, we’re here and happy to help answer your questions or make any necessary adjustments to your policy. The no-fault legislation that is part of this reform means higher coverage options and a stronger level of consumer protection. With a better no-fault system for drivers, everyone will have quality coverage. But if your policy renewed after July 1, 2020, or you get a policy issued after that date, the changes will be applied.

When you work with a trusted agent, you’ll have fewer worries about the changes and anticipate any adjustments you’ll need to make to your policy. We understand that insurance reform can cause confusion, and we want to reduce that as much as possible for all our customers. Whether you want to change or update your policy, or you just have questions about how things will change for you, we’ll be here to answer them. Essentially, though, you’ll receive better protection and more coverage options, which will benefit drivers throughout the state.

Are you ready to learn about the new auto insurance reform, or do you have questions that need to be answered? At Guy Hurley McNeil, we’re here to help. Reach out to us today, and become one of our satisfied Rochester Hills, MI customers. We’ll help you understand the changes and what they mean for you, along with making sure you’re getting all the support you’re looking for if you need to adjust your policy. We want you to make informed choices, and we’re happy to provide knowledge and guidance so you can do that more easily. By contacting us, you’ll be protected yourself and your policy so you can get the quality coverage you need and want for your vehicle.

Auto Insurance Reform in Michigan

For Michigan drivers looking for relief from high insurance costs, Lansing put through a measure designed to take effect on July 1, 2020.  Under this auto insurance reform effort, motorists are given the option to opt-out from purchasing personal injury protection (PIP) through their auto coverage should their health policy cover auto injuries.  If you’re wondering what the ramification of this new legislation has for your Rochester Hills MI auto coverage, we invite you to come and speak with our friendly and knowledgeable staff here at Guy Hurley McNeil Insurance.

Auto Insurance Reform in Michigan

Drivers in the Wolverine State have long held the dubious distinction of “highest-in-the-nation” when it comes to the cost of auto insurance premiums.  Indeed, since the passage of the state’s no-fault insurance provisions nearly half a century ago, Michigan drivers have seen a steady rise in premium costs, which the new legislation seeks to rein in to help struggling motorists by providing additional options.

Medicare-eligible senior citizens, and drivers covered under health insurance provisions for auto accidents, can now opt-out of the previously mandated demand that they purchase unlimited, lifetime medical coverage, or PIP.

Hailed as a cost-savings measure that is far more than one-off savings, the savings to Michigan families will be realized with each lowered monthly insurance policy, according to bill supporters at the time of passage.

Contact Guy Hurley McNeil Insurance Serving Rochester Hills, MI

Should you be wondering Michigan’s new insurance law will affect you and your family, we invite you to contact our friendly staff to discuss your insurance in this evolving situation.  Reach out to our knowledgeable and friendly insurance agents to understand the new law.  You get more than just peace of mind when you work with Guy Hurley McNeil; you get the answers you need to answer your questions.

4 unique things that are covered in your home insurance policy

Many homeowners in Rochester Hills, MI, have a basic understanding of home insurance. They understand that home insurance pays for accidents that result in home damage.  However, insurance companies today like Guy Hurley McNeil focus on very many aspects of your home insurance policy to ensure that you are adequately covered. Here are five covered losses that you may not know about.

1. Lawn and landscaping

Did you know that your lawn is covered under home insurance? You are entitled to compensation if a fire started and burnt all your grass or someone drove their car and tore grass. If you did not know, shrubs, trees, and other plants are covered under home insurance.

2. Spoiled food

Whether you’re keeping vegetables or canned food, home insurance covers for spoiled food in case power goes out for too long. Your insurance company should replace the food every time you file a claim for rotten food. However, if it was your fault that the food went bad, don’t bother filing a claim.

3. Terrorist attack

While home insurance covers burglaries and vandalism, very little is said about terrorism, and it still remains an isolated peril.  For as long as the country is not at war, your insurance company should reimburse you for damages caused due to terrorist attacks.

4. Items stolen from your car or office

Did you know that your auto insurance does not cover the items that get stolen while there? Well, if you lose your laptop that was in your car, you will not report to your car insurance but your home insurance company.

We hope you have learned a few things about home insurance. If you have any questions, feel free to reach us at Guy Hurley McNeil in Rochester Hills, MI today!

Do I Need a Special Kind of Policy if I Use My Car for Work?

Rochester Hills, MI residents who are self-employed often use their own car for business purposes. This can lead to problems if you are involved in an accident. The agents at Guy Hurley McNeil want to work with their clients to help them protect both their business as well as their personal property. Understanding the need to keep their personal car from their business assets is essential. 

Business vs Pleasure Driving

When you own a business, it is of the utmost importance to keep your business interests apart from your personal property. While you may be able to use your vehicle to drive to and from work, carrying inventory and other merchandise can lead to a sticky situation if you are involved in an accident. If at all possible, you need to have a separate vehicle that is used strictly for business purposes. This protects your personal vehicle from any business liability.

Business Liability

Business liability insurance keeps the liability associated with your company focused only on your business. It prevents your personal assets from being affected if your business falls on hard times due to an accident or other type of mishap. With the right type of insurance policy, your vehicle will be fully covered for your business and without having an impact on your personal automobile policies.

The agents at Guy Hurley McNeil are always available to discuss auto insurance options with their clients who live in the Rochester Hills, MI area. If you are looking for answers on how to insure your personal vehicle as well as your business vehicles, the agents have the answers. Visit them today!

Why Do I Need Home Insurance?

In most cases, unless your mortgage lender requires it, carrying home insurance is a choice, not a must. When it is not required, people often wonder why they need it and whether they should add on another monthly bill. Here at Guy Hurley McNeil insurance, we want to be sure you know how big of an impact home insurance can make on your life.

Your home is likely your biggest financial investment. If something were to happen to you Rochester Hills, MI home, could you afford the cost to rebuild or buy another home? If a fire broke out and burned down your home, what would happen to your family? Do you have an alternative place to live? Would you be able to pick the pieces of your life back up?

In most cases, the answer is “no”. As homes are such large investments, they can be difficult to replace and rebuild. Though it is not required by law, home insurance is a form of protection that most people cannot do without. In the case of a covered event, your home insurance can cover the costs of the damage or the cost to buy a new home.

Home insurance is something like a savings account that has funds for particular events. You pay your premiums each month. If a covered event occurs, your insurance company will withdraw some of your savings- your policy coverage- to take care of the costs associated with the event.

You may not be required to carry home insurance, but it is something you should seriously consider. There are policies to choose from that can help you bounce back from events such as fire, storm damage, theft, and more. For Rochester Hills, MI residents, give Guy Hurley McNeil a call or stop by today! We can help you personalize your policy to get the coverage you need. 

 

The Basics of Safer Driving

You need to remain safe every time you slide behind the steering wheel of your car. Always be aware of what shape your tires are in and make sure there’s plenty of tread. Keep an emergency kit in your trunk. Finally, defensive driving tops the list of things you can do to remain safer in your car. Guy Hurley McNeil in Rochester Hills, MI can help you insure your vehicle, but your safe driving methods help you make sure you never need to file a claim.

Concentrating on the road and driving can solve a lot of problems. Force yourself to pay 100 percent attention to driving. Avoid multitasking, and that includes using your cell phone or another electronic device.

Defensive driving means paying attention to what happens on the road with other drivers, cyclists, pedestrians, etc. You can see more of what goes on if you reduce your speed a bit. You gain more reaction time if you drive more slowly. It can also reduce accident severity.

Remember the one-car length that your driver’s education instructor told you to keep between the front of your car and the one in front and behind you? It was not a suggestion. It provides a two-second cushion between you and the other vehicles. Increase it to two-car lengths in lousy weather, so you have a four-second cushion. This can save your life and others.

Plan to drive safely, and you should try to start your trip early. Also, plan in rest breaks. You need to pull over to eat and make comfort adjustments before you start driving. That means put the seat, mirrors, and climate controls in the proper position before you put the vehicle in gear.

Visit Guy Hurley McNeil serving the Rochester Hills, MI area to learn more about vehicle safety and how your auto insurance helps protect you.

Choose the Right Additional Home Insurance Coverage to Fit Your Needs

If you’re just about to get home insurance for a new house or when your situation or property changes, it’s a good idea to know what types of additional coverage would benefit you the most. An agent at Guy Hurley McNeil of the Rochester Hills, MI area can help.

Why an Insurance Rider Might be Right for You

An insurance rider, also known as an endorsement or floater, is an add-on to your home insurance policy (or any insurance). It acts to amend the basic policy. When you get a rider, you’ll increase coverage limits, as well as expand or extend protection on a specific property for additional perils. 

Higher Limits for Personal Property 

If any of your personal belongings were to be stolen or damaged in your home or on your person while you’re traveling, it ordinarily would be covered by a basic home insurance policy. However, it may only be for $1,500 or another amount that doesn’t cover higher-ticket valuable items like expensive jewelry or antiques. Some riders allow you to increase the personal property coverage limit for specific items for which there is a higher risk. 

Check Back with Your Insurance Agent Often

It’s in your best interest to sit down with your insurance agent about once a year to discuss any new options or changes with your home or new personal property. They’ll be able to explain coverage gaps and help you figure out the best floaters to fit your needs. 

Here at Guy Hurley McNeil, we’ll be able to assist you with your home insurance coverage questions and concerns. Serving the Rochester Hills, MI area, we’re dedicated to all of our clients.

Road Safety Tips for Winter

Whether you are traveling to a winter destination or a local spot, the winter weather can be tough to navigate at times. Snow and ice can make driving conditions extremely dangerous. According to the AAA Foundation for Traffic Safety, more than 500,000 accidents occur each year due to hazardous weather conditions. The agents at Guy Hurley McNeil have competent agents ready to get you started with auto insurance coverage, which is the best way to protect yourself against hazards.

Start With Maintenance

Keeping your vehicle in tip-top condition will help you when you need to face the winter weather. Before the weather changes, you should check the battery to make sure that it is in optimal condition. Replace fluids, such as windshield wiper fluid and antifreeze. Check tire pressure and tread to prevent slips on any patches of ice on the road. Keep your gas tank at a decent level. Having too little gas could cause significant problems if you get stuck in a storm.

Driving on Winter Roadways

  • Drive Slower – If it begins to snow, the best thing to do is not go out, but if you have to drive, you should drive slowly. The speed limit is set for clear and optimal conditions, so speeding will quickly become dangerous. 

  • Stay Back – Your field of vision will be impaired while it is snowing, so it’s best to drive slowly and keep a safe distance. 

  • Know Your Brakes – Know what your car can and cannot do. Knowing how your brakes accelerate and decelerate in inclement weather can be an advantage. 

  • Skids – If you do find yourself skidding, turn your tires into it and not against it.

Stop by Guy Hurley McNeil in Rochester Hills, MI to get car insurance. Our agents have the expertise to help you with insurance coverage for your vehicle.

 

How much auto insurance do you need in Michigan?

The state of Michigan requires all drivers who operate vehicles on the highway and in the city to have proof of auto insurance at all times. There are specific stipulations that satisfy the insurance requirement, which include policy limits as well as deductible minimums. An agent at Guy Hurley McNeil can help you find the auto insurance plan that fits your preferences and satisfies the requirements in Rochester Hills, MI. 

Michigan auto insurance requirements

Drivers in the state of Michigan must provide proof of the bare minimum insurance coverage. At the very least, every driver should have a policy that offers: 

  • $20,000 bodily injury per person with at least $40,000 bodily injury for all persons involved in the accident

  • $10,000 for property damage

  • $20,000 for bodily injury in instances where the person at-fault lacks proper coverage. Drivers should have coverage that provides $40,000 for bodily injury for all persons involved in the accident.

  • Unlimited personal injury that requires a maximum deductible of $500

Is the minimum enough?

In many cases, the minimum is not enough. Such is especially true in cities such as Detroit and Rochester Hills, MI, where the price to replace a car damaged beyond repair can exceed $10,000. Medical bills are all a factor as the cost of proper care can go well beyond $20,000 per person. 

Experts suggest drivers maintain insurance policy limits that are no less than $100,000 for property damage and $300,000 for bodily injury. It may even be a good idea to have policy limits that swell to $500,000 in an accident. 

Call Guy Hurley McNeil!

Guy has been in the insurance industry for many years and can help you find the right policy to satisfy state law and your personal preferences. We can also explain what Michigan’s status as a “no-fault” state means for you and your family in an accident. Call Guy today to schedule a consultation for insurance coverage.