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Snellville, GA 30078

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Common Auto Insurance Terms You Should Familiarize Yourself With

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Here at Toney Insurance Services, serving the greater Snellville, GA area, we understand that shopping for auto insurance can be challenging simply because people do not fully understand the terms being used.

Here are a few common auto insurance terms you should familiarize yourself with:

Collision Coverage

Collision coverage is an auto insurance policy feature that provides coverage for damage to your vehicle in the event of a collision with another vehicle or object, regardless of fault. This coverage helps pay for repairs or replacement of your vehicle.

Comprehensive Coverage

Comprehensive coverage is an insurance policy feature that protects against damage to your vehicle that is not caused by a collision. This can include theft, vandalism, fire, natural disasters, or hitting an animal. It is optional coverage and often has a deductible.

Liability Coverage

Liability coverage is a type of auto insurance that covers the cost of damage or injury you may cause to others in an accident. It includes both bodily injury liability, or the covering of medical expenses, lost wages, and legal fees, and property damage liability, or the covering of repairs or replacement of damaged property.

Uninsured or Underinsured Motorist Coverage

This coverage protects you if you are involved in an accident with a driver who doesn’t have insurance or whose insurance is insufficient to cover the damages. It can help pay for medical expenses and vehicle repairs.

Reach Out To Us

These are just a few common auto insurance terms that are important to understand when shopping for or reviewing your auto policy. Familiarizing yourself with these terms can help you make informed decisions about your coverage and ensure you have the appropriate protection on the road. If you are looking for a new policy, Toney Insurance Services, serving the greater Snellville, GA area, would love to help you. Contact us to get started. 

How Umbrella Insurance Works

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When you want enough insurance to protect you against liability, your home and auto insurance policies may not be enough. You may need to get umbrella insurance so that you’re better protected against liability. Accidents happen both with vehicles and in the home. In both of these cases, you could end up owing a lot for medical bills and other expenses. It’s smart to have an umbrella policy so that you know you can cover these bills.

When you’re interested in umbrella insurance, just give us a call at Toney Insurance Services in Snellville, GA.

Getting More Coverage

When you get an umbrella policy, it gives you more liability coverage for both your home and auto policies. If you were to add to each of these policies directly, it would cost a lot more than getting an umbrella policy. It also adds an enormous amount of coverage. The maximum payout of an umbrella policy is far higher than the amounts that the average home or auto policy has. It would be rare for there to be any bills left over after an umbrella policy came in and paid them.

Two Policies

If there is an accident, and you have umbrella insurance, you will have two policies that cover it. The first policy will be the auto or home policy. That one will pay as much as it can until it reaches its maximum. After that, the umbrella policy will pay any of the bills that are left over. This ensures that you won’t have a financial disaster after an accident. When the policy pays those bills for you, you save an enormous amount of money. 

Get Umbrella Coverage

If you want to be better protected from your liability, give us a call today at Toney Insurance Services in Snellville, GA.

Is It Necessary To Assess Home Insurance Needs On A Yearly Basis?

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Absolutely. Not everyone’s policy will need to be updated annually. However, it’s a good idea to review your homeowner’s policy needs when you obtain new art objects, for example, jewelry and hobby items like rare train sets or 100-year-old porcelain dolls.

It’s not just about expensive things like classic cars or retro travel trailers. It’s also about the structure and any add-ons such as an extra room, indoor or outdoor pool, a deck, a bay window, or adding a permanent canopy over the patio to make an outdoor room. Toney Insurance Services of Snellville, GA is here to explain why this assessment is necessary.

The 80 Percent Rule

You just left closing on your new house with only change left in the bank. You had to purchase home insurance for closing. We get it. You should know, though, that the 80 percent rule is necessary for homeowners to receive full home insurance coverage. 

You should also know that had you not bought it and/or kept up with inflation to keep your insurance at 80 percent and a disaster struck, then the insurance would only pay the difference between the 80 percent of the value of the house and the amount of insurance you bought.

Why Update Your Home Insurance

Let’s say your new house needs upgrades. You upgrade it, and the value of your home increases. The snag to that is you forgot to upgrade your home insurance. Disaster strikes. The insurance company won’t pay for repairs because the 80 percent window has been closed.

According to the upgraded value of your house, you now have, say, 58 percent coverage on your house. The insurance company will take the difference between the 80 percent it originally was and the 58 percent it is now and pay you 22 percent. You’re on the hook for the rest of it. Toney Insurance Services in Snellville, GA will be happy to walk you through what other things you should know about home insurance.

Why You Should Review Your Boat Insurance Policy Every Year

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While Georgia does not require you to have boat insurance in order to register and operate your boat, your lender may require it, and there are many benefits associated with obtaining it. Here at Toney Insurance Services, providing residents in the greater Snellville, GA area with boat insurance, we highly recommend you have boat insurance. We also recommend that you review your boat insurance policy once a year.

Here are a few reasons why:

Your Boat’s Value Could Change

One of the reasons why it is important to review your boat insurance policy every year is because the value of your boat can change from year to year. In many cases, boats decline in value, but during the pandemic, boats, even used boats, rose in value. You want to ensure your policy meets your needs and covers the value of your boat. 

The People Who Operate Your Boat Can Change

Another reason why it is important to review your boat insurance policy every year is that the people who operate your boat can change. Your child may have reached legal driving age or you may have gotten married and have a new spouse you want to include as covered operators on your policy. 

Your Financial Situation Can Change

Lastly, you should review your boat insurance policy every year because your financial situation can change from year to year. You may not have been able to pay a higher deductible in the past, but now, you may have more savings and may want to opt for a higher deductible to save on your policy. Or, you may have less money in savings and may want to reduce your deductible. 

We Are Here To Help!

Are you looking to purchase boat insurance in the greater Snellville, GA region? Turn to Toney Insurance Services to help you find the boat insurance policy that best meets your needs. Call us now to schedule an appointment to discuss different boat insurance policies or to get answers to the questions you have in regard to boat insurance. 

Exploring Auto Insurance for Beginners: A Step-By-Step Guide

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If you’re a first-time car owner or simply in need of a refresher on auto insurance, you’ve come to the right place. At Toney Insurance Services in Snellville, GA, our team of expert agents is dedicated to helping drivers like you understand the ins and outs of auto insurance.

Auto Insurance for Beginners

Auto insurance is a type of coverage that protects you in the event of an accident or other unexpected events. The coverage typically includes liability insurance, which covers the cost of damage or injury that you may cause to others, and can also include coverage for your own vehicle, such as collision coverage or comprehensive coverage.

When exploring auto insurance options, it’s important to consider a few key factors. First, it’s important to determine the level of coverage that you need based on your budget and specific driving habits. For example, if you’re an infrequent driver, you may not need as much coverage as someone who drives frequently or long distances.

In addition, it’s a good idea to compare quotes from multiple insurance companies to ensure that you’re getting the best possible rate. You may also want to consider factors such as customer service, claims to handle, and the overall reputation of the insurance company when making your decision.

At Toney Insurance Services in Snellville, GA, our knowledgeable agents are always here to help you navigate the world of auto insurance. We’ll work with you to understand your specific needs and help you find a policy that provides the right coverage at an affordable price.

Another important step in exploring auto insurance options is to regularly review your policy to ensure that you have the right coverage for your needs. This is particularly important if you’ve recently made any changes to your vehicle, such as purchasing a new car or adding a new driver to your policy.

Give Us A Call

At Toney Insurance Services, we’re committed to helping our clients understand and make the most of their auto insurance coverage. Whether you’re a beginner or a seasoned driver, our team is here to answer your questions and provide you with the support you need. So if you’re looking for a comprehensive, step-by-step guide to auto insurance, get in touch with us today!

Four of the most important things you need to know about umbrella insurance

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Umbrella insurance is an important type of coverage that residents of Snellville, GA might want to purchase. Toney Insurance Services offers umbrella insurance policies.

The following are four of the most important things you need to know about umbrella insurance coverage:

Umbrella insurance premiums are comparatively low.

One of the best things to know about umbrella insurance policies is that they tend to offer relatively low premiums compared to auto and home insurance policies. You may be able to purchase a policy for as little as $150 per year. 

Umbrella insurance covers liability expenses. 

Consumers need to realize that umbrella insurance won’t cover them for property damage. Umbrella insurance provides coverage in liability situations. This means that umbrella insurance coverage covers legal costs and other expenses resulting from a lawsuit against the policyholder. 

Umbrella insurance complements coverage from other insurance policies.

Consumers typically need to have already purchased other insurance coverage in order to qualify for umbrella insurance coverage. If you want to take advantage of umbrella insurance, you probably will need to have auto insurance and home insurance. Your umbrella insurance will cover you for expenses above the policy limits of these policies. 

Umbrella insurance coverage protects the assets of the policyholder.

Consumers should invest in umbrella insurance if the value of their assets exceeds the value of the maximum policy limits of their home and auto insurance policies. Without coverage that’s worth as much as one’s assets, a consumer’s assets are at risk of being lost in a lawsuit. 

Give Us A Call

At Toney Insurance Services, we’re here to answer any questions you have about umbrella insurance. Contact us today if you want to get a quote on an umbrella insurance policy in Snellville, GA. 

Four misconceptions about home insurance

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Consumers who own a home in Snellville, GA need to fully understand home insurance. Toney Insurance Services can provide answers to questions area homeowners have about this important coverage.

The following are four common misconceptions consumers must be aware of regarding home insurance:

Home insurance offers complete coverage for personal belongings within the home

While home insurance policies typically include some coverage for the policyholder’s personal belongings with the home, there will be a limit on how much coverage this includes. That’s why homeowners with especially valuable items in their homes such as collectibles or high-end electronics might want to increase their personal property coverage limits. 

Home insurance always provides coverage for water damage

Home insurance policies cover some types of water damage such as water damage resulting from a burst pipe. However, standard home insurance will typically not provide coverage for flood damage or certain other causes of water damage. 

Home insurance provides coverage for landslide damage

Standard home insurance does not usually cover landslide damage. If you live in an area with a risk of landslide damage, you may need to add specialty coverage for landslide damage. 

Homeowners don’t have to purchase home insurance

While homeowners are not typically required by law to carry home insurance, they are typically required to carry home insurance by their mortgage lender. If you are still paying off the mortgage on your home, you will need to buy insurance coverage. 

Contact Us Today

Get in touch with us at Toney Insurance Services to get a quote on a home insurance policy for your property in Snellville, GA. We’ll be happy to answer your questions and provide you with the coverage you need!

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