Difference between stacking and non-stacking in auto insurance?

What Is Auto Insurance Stacking?
Auto insurance stacking applies to combining coverage for under insured and uninsured motorist bodily injury if you have multiple cars. By combining coverage, you are able to substantially increase the payment limits of your auto insurance should you be involved in an accident with an uninsured motorist. For example, if you had $50,000/$100,000 coverage and decided to exercise the stacking option for a second car, stacked coverage for both cars would be $100,000/$200,000 (existing coverage times two cars). With three cars, the coverage would increase to $150,000/$250,000 and so forth for additional vehicles.

Unstacked Insurance
With multiple cars on a policy, you do not have to stack the coverage. As in the above example, each car would be covered at $50,000/$100,000 individually. No matter how many cars you have on the policy, the amount of coverage for each car stays the same. This will save you money in premiums, as stacking carries a heavier fee. However, if you were to try to increase the coverage level of each car to the amount the stacked coverage would be, you'd find it more expensive and more complicated than stacking.

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Juan D. Espinosa

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Does my car insurance cover my rental car?

Generally, coverage from your primary auto insurance will extend to a rental vehicle. If you cause an accident while driving the rental, your liability insurance would pay up to your policy limits for the damages to other cars or property.

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When is the last day to sign up for Obamacare?

Open Enrollment for Health Insurance

• 2016 Open enrollment in the Health insurance Market place started November 1st, 2015 and ends January 31st, 2016.

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What Is a Wind Mitigation Inspection?

As a homeowner with windstorm insurance, state law entitles you to certain premium reductions, but without an inspection, you can’t get them! If you haven’t had a windstorm insurance inspection at your current home, you are PROBABLY PAYING TOO MUCH FOR YOUR WINDSTORM INSURANCE!

During a wind mitigation inspection, a certified inspector reports on the key features that may decrease the amount of damage your home suffers during a hurricane or strong windstorm. These features fall into several categories, such as exterior construction type, roof shape and construction methods, age of roof covering, door and window opening protection as well as the actual year the home was built. Another factor may be the elevation of a property and how it relates to wind speed.

For more information, contact me.

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What factors can affect homeowners insurance premiums?

·         Home Features and Characteristics — Your home's age, type of structure, wiring, roof, garage, etc., can affect your homeowners insurance premium. Older homes can often cost more to insure, and those costs can differ depending on whether your home is brick, frame, masonry.  Or if the roof was replaced.

·        
Location — Where your home is located can change your homeowners insurance premium. For instance, your home insurance rate can be affected if your home is in close proximity to a fire station; is exposed to extreme weather, such as hurricanes, tornadoes or earthquakes; or is in a neighborhood more prone to theft.

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Protective Devices — Burglar alarm systems, smoke detectors, fire extinguishers, sprinkler systems and deadbolt locks can lower your homeowners insurance premium.

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Personal Factors — What you do can affect your homeowners insurance premium, too. For instance, smokers may pay more for home insurance than nonsmokers. A good credit history also can lower what you pay for home insurance.

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Claims History — If you have a history of claims on a homeowners insurance policy, you may pay a higher premium.

Health Care Reform Questions & Answers

Will Health Care Reform have any effect on my tax filings?

Beginning with your 2014 tax filing (that is filed by April 15, 2015), all individuals will have to report information about their health insurance coverage to the Internal Revenue Service (IRS). What you report will depend on whether or not you were covered in 2014, what type of coverage you had (individual, employer-sponsored, or government program), and how many months of the year you had the coverage.

The information you report on your taxes will help determine if you are required to pay a penalty, are eligible for a subsidy, or are exempt from coverage.

For more answer to you questions contact E&S team

juan.espinosa@es-insurance.com

www.es-insurance.com

Health Care Reform Questions & Answers

Do I have to purchase health insurance?

Beginning 2014, most people were required to have health insurance or pay a penalty. Coverage may include employer-provided health insurance, individual health insurance, or health insurance through a government program such as Medicare or Medicaid.

People without health insurance could face tax penalties that will be phased in and increased over several years, starting with the 2014 tax filing. The penalty for the 2014 tax year was $95 per adult ($47.50 per child) or 1 percent of household income (whichever is greater) and family maximum of $285. In 2015 the penalty increases to $325 per adult ($162.50 per child) or 2 percent of household income (whichever is greater) and family maximum of $975.

If you need to purchase health insurance or need more answers to your questions, Contact E&S Team

juan.espinosa@es-insurance.com

www.es-insurance.com