Melendez Insurance Blog

Why Did My Auto Insurance Rate Go Up?

At ERIE, we don’t take the price you pay for car insurance lightly. Like most companies today, we’re facing increased costs of doing business. And we know that you are facing rising costs too, on everything from gasoline to breakfast cereal to housing. And while a lot of factors go into what you pay – from vehicle safety ratings to your personal driving history – striking the balance between insurance premiums and the cost of doing business is key to any insurer’s ability to meet customer expectations and pay for claims. For questions about your specific auto policy and rate, reach out to your ERIE agent. Generally speaking though, here are some of the biggest factors that may cause auto insurance premiums to increase: Inflation: The Consumer Price Index (CPI) rose by 4% compared to 2022. This means that on average, all of us are spending 4% more than we were a year ago for the same goods and services.… Read More

Tornadoes can strike in seconds. Are you ready?

Tornado season is upon us and could bring more storms in the months ahead. In fact, the U.S. experiences the most tornadoes of anywhere in the world.1 Last year alone 1,197 tornadoes tore through the country, costing over $1 billion in property damage.2 While we can’t prevent tornadoes, we can help you craft a safety plan and prepare. Before a Tornado Designate a Shelter The best shelters are sturdy, windowless spaces with room for you, your family, and pets. A basement is ideal, though any low‑level, windowless room works, including closets, hallways, interior stairwells, or a bathtub if you have a heavy blanket or mattress as cover. Food and Water for 72 hours, such as canned soup, granola bars, or shelf‑stable goods, plus a can opener Whistle or horn to attract attention should you become trapped Battery or generator‑powered lights to conserve mobile phone power First aid kit that includes bandages, antiseptic, and essential medicines Battery or crank radio because cell towers may be down Important documents, including copies of your ID, insurance information, Social Security cards, a small amount of cash, and other legal documents, such as wills Extra pet food if needed During a Tornado Know the signs of a tornado: • Dark green or sickly‑looking sky • Large hail • Low clouds, especially if they’re rotating • A roar often compared to a train whistle If you hear or see these signs, or there’s a local tornado warning, shelter with family and pets.… Read More

Top Three Reasons Why People Buy Life Insurance

Before you get life insurance coverage, you should understand why you need it. While there are many reasons to buy life insurance, the most common reasons include: Final expenses: Final expenses refer to any expenses related to someone’s passing. This can include a casket, funeral, preparations, memorial service, cremation and more. Life insurance for final expenses is worth considering—after all, the National Funeral Directors Association reports that the median price of a funeral with a casket is around $7,850. Families without enough funds are forced to cut back on the service or ask friends and family for donations. Some families have turned to crowdfunding to help cover the cost. A modest term life insurance policy can unburden your loved ones by taking care of these expenses. Income replacement: Your loved ones depend on your income to meet daily needs for food, medical care, utilities, car payments and much more. There are also future costs like a child’s college education or contributions you would have made toward a surviving spouse’s retirement.… Read More

Don’t Let These 6 Reasons Hold You Back from Buying Life Insurance

What are the real reasons holding you back from getting life insurance*? Are you like the majority of Americans who don’t have it, but say that they know they need it? A study from Life Happens and the financial and insurance organization LIMRA shows that while 85 percent of study respondents agree that most people need life insurance, only 59 percent say they have life insurance. Does this ring true for you? If so, maybe it’s because of one of these reasons. 1. It’s too expensive. Cost is the number one reason people don’t have life insurance. The same study shows that consumers tend to overestimate the price of life insurance. For instance, when asked how much a $250,000 term life insurance policy would be for a healthy 30-year-old, the median estimate was $500 annually—more than three times the actual cost. Life insurance is probably more affordable than you think—and there are lots of ways to bring the price into your comfort zone.… Read More

5 Driving and Car Maintenance Resolutions

Whether it’s following a regular maintenance plan or making sure you’re prepared for an emergency, we’ve pulled together five driving and car maintenance resolutions for the New Year. Procrastinating on regular maintenance. If you skimp on basic maintenance, your car can eventually quit or malfunction. If you’re on the road when it happens, you could lose control of your car, putting yourself and others in a dangerous situation. So, if it’s been awhile, get your car into the shop for an oil change. A mechanic can also check your vehicle’s filters, fluids, hoses and other key components. Also, ask about your vehicle’s maintenance schedule. Find out if any parts are wearing out before they break. Neglecting your tires. Make sure your tires are properly inflated, not only does it add life to your tires, but they’re much safer on the roads, too. According to the National Highway Traffic Safety Administration (NHTSA), nine percent of automobile crashes are related to tire failure.… Read More

Understanding Your Auto Coverage

You know if you have a car, you need auto insurance. However, you’re probably not thinking about what kind of coverage you have until you need it. From protecting your car, to protecting your passengers and any prized possessions along for the ride, it’s good to know your

policy has you covered for life’s little mishaps. Say your daughter forgets your car is parked right behind her in the driveway or a deer doesn’t wait his turn to cross the street, we’ll make sure you’re back on the road as soon as possible. In the moments after an accident, so many things are happening that you may feel overwhelmed. Thinking about what you auto policy covers shouldn’t be one of them. Common Coverages Depending on your state’s requirements for auto insurance and what limits and options you pick, your auto policy can include up to six common coverages. You Cause an Accident and Someone Gets Hurt: If you cause an accident and other people are injured due to your negligence, bodily injury liability coverage is what protects you against their claims for damages, such as medical expenses, lost wages, and pain and suffering.… Read More

I Want to Rent Out My Home. What Do I Need to Do?

Renting is on the rise, and many homeowners are deciding to rent out their old homes rather than sell them. If you fall into that camp, you’ll want to talk to us about changing your current homeowners insurance policy to a rental policy. Your insurance A rental policy will protect your home’s structure and a small amount of furnishings in your home. (If you are renting your home furnished, you can add additional coverage for extra furnishings.) So you’d have coverage for your home if lightening ruined its roof or if a visitor slipped and fell on an icy stoop. Another important benefit is fair rental value. In the event that your home suffers a loss that is covered and your tenant can’t live in your unit until repairs are made, your policy can provide up to 12 months of fair rental value. This means you won’t lose out on the rental income you may rely on each month.… Read More

What’s the Difference Between a Certificate of Insurance and an Additional Insured?

You typically come across these issues when you’re talking about business insurance. It’s easy to get them confused. The key difference between a certificate of insurance and an additional insured comes down to whether you have coverage under someone else’s insurance policy. This only applies if you’re named as an additional insured on a policy. What’s an additional insured? When you’re named an additional insured on a policy, you are typically insured for covered claims arising from the Named Insured’s negligence (or your joint negligence) with regard to the premises, project and equipment that’s described in the additional insured endorsement. This commonly will include defense costs should you need to hire an attorney if the claim falls within the terms of the additional insured endorsement. Businesses typically request to be named as an additional insured on a policy if another business’s negligence could affect them. Two examples could include: A general contractor hires a subcontractor to help with a project.… Read More

Three Things to Know about Fallen Trees and Business Insurance

If a tree falls after a storm and hits your office building, is the damage covered by your business insurance? The answer? Well, it depends (on your policy). Here are three things to know about business insurance and toppled trees. 1. Coverage details You’re covered for the removal of the fallen trees and related damages if your policy specifically covers and lists your building and other property, such as fences, freestanding signs and outbuildings. This includes trees felled by a windstorm, lightning, hail or from the weight of ice, snow or sleet; but it doesn’t cover diseased or dead trees. What if the tree lands on your work vehicle? If comprehensive coverage is purchased for your business vehicles, damage from fallen trees would be covered. 2. Where the tree falls is key Where a tree falls is generally more important to an insurance company than its owner. So if the neighbor’s tree lands on your business property, you would file a claim with your insurance company.… Read More

How Insurance Can Protect You Through the Years

They say that the only constant in life is change. And that’s true whether you’re 18, 80 or somewhere in between. One thing to consider when life changes is your insurance coverage. Here are six common transitions that we can help you navigate. You’re off to college. With many policies, full-time students younger than 24 are automatically covered under their parents’ homeowners policy. Part-time students (or students who are 24 and older) may need to take out a renters insurance policy. If you choose to live in an apartment instead of a dorm, think about purchasing a separate renters insurance policy. (Learn more about renters insurance below.) When it comes to car insurance, you don’t need your own policy if you’re taking a family member’s car to school. If you’re a co-owner on the vehicle or if you own your own car, you probably need your own policy. You’re renting your first place.… Read More