What’s the Difference Between Classic Car Insurance and Standard Auto Insurance?

Can you picture it? You’re taking a little cruise around Fredericksburg, VA, with your shiny classic car. You’re participating in auto shows and enjoying one of your favorite things in life. If this sounds good, then you should probably learn about classic car insurance. It’s pretty different from normal car insurance, so the agents at Pete Webb Agency have put together this quick guide to explain the differences.

Out of Pocket Cost

Before we get into the details, remember that every insurance policy is unique. These are general guidelines, and specific cases can definitely be different. With the disclaimer out of the way, what surprises most people about classic insurance is that it tends to cost a lot less than standard insurance. The assumption is that a classic car is not driven as often as a standard vehicle, and that leads to lower premiums and deductibles. That said, if you drive your classic car on a daily basis, you need standard auto insurance rather than classic insurance.

Coverage

The primary difference between the two policies is that they are intended to cover different things. The bulk of standard auto insurance is crafted around liability. The value of the car plays a part in your coverage, but there’s a lot more being factored into the equation. Because of that, standard policies rarely cover the vehicle for as much as you paid to get it. With classic insurance, liability risk is minimized. The policy is built around the current value of the vehicle, and that means it will pay out pretty much what the classic car is worth. Of course, the value of a classic car can change pretty quickly, so it’s important to regularly update your classic policy.

If you have a classic car, or if you’re thinking of finally pulling the trigger, talk to your Pete Webb Agency representative. They can help you look at different policies available in Fredericksburg, VA, and get exactly what you need

Summer Safe Driving Tips

There’s nothing more fun than going on a long road trip in the summer months when you live in the Fredericksburg, VA area. But, don’t head out without a plan to keep your trip enjoyable and safe. Use these tips from the Pete Webb Agency to ensure that the only excitement that happens in the kind that you plan.

Check Your Vehicle

  • Before you go on a summer trip, be sure that your car is in proper working order and basic maintenance has been performed. Keep up with basic car maintenance like tune-ups, oil changes, and tire rotations.
  • If anything is getting worn, like your tires, belts, hoses, or your windshield wipers, go ahead and replace these things before you hit the road.
  • Check the air pressure on your tires and don’t forget to check that your spare tire has adequate pressure too.
  • Look at your owner’s manual to learn how to check all of your fluid levels, like brake fluid, transmission fluid, coolant, and power steering fluid. Add extra fluid if needed before you leave.

Use Safety Conscious Driving

  • Don’t ever try to drive while operating a cell phone or other handheld device. For long trips, invest in a blue-tooth headset if your car is not equipped with one so that you can take calls while driving.  Otherwise, put your phone on silent until you can return texts and calls while on a break from driving.
  • Never try to drive after drinking. Make sure that you have a designated driver or call a cab if you are attending a gathering where you will be drinking.  
  • Don’t try to drive when you are sleepy. Be sure to plan for adequate rest before you hit the road and don’t be afraid to stop to rest if you start getting tired. 
  • If you are driving with small children, be sure that they are in properly-installed, properly-sized child restraint seats. 

Pack Emergency Supplies

  • Make that sure your car has what you will need to change a flat tire, including a tire tool, jack, and spare tire. 
  • You may want to pack a bag with extra snacks and water, just in case you were to get stranded in an isolated area for a few hours.
  • Be sure to have a paper map in addition to the one on your cell phone, just in case you have problems with your phone. 
  • Flares and jumper cables can help you be prepared for emergencies on the road.

Before you head out of town, make sure that your auto insurance is up to date and covers any possible problems on the road. For more information about auto insurance in the Fredericksburg, VA area, contact the Pete Webb Agency.

An Introduction to Long Term Care Insurance

An Introduction to Long Term Care Insurance

Pete Webb Agency of Fredericksburg, VA wants you to have a clear understanding of all of your insurance possibilities. If you have not learned about long term care insurance yet, read on to find out how it can help you over the long-term. A type of health insurance, long-term care insurance, pays for long-term services like assisted living or a rehabilitation facility. It also may cover in-home care. It reimburses the policyholder a pre-set daily amount to pay for daily living assistance like bathing, dressing, eating or psychiatric care that includes therapy and medication. Premiums vary for long-term care policies. The cost depends on the following factors:

  • your age when you purchase the policy,
  • the policy maximum per day,
  • the maximum length of time a policy will pay,
  • a formula that multiplies the maximum per day payment times the length of coverage.

Apply for long-term care insurance while you remain healthy. Most policies require medical underwriting. You may have to undergo a medical exam. If you already live in a long-term care facility or use in-home care or experience poor health, you probably will not qualify. You can obtain this type of coverage as a private, individual experience or as part of an employer-based group plan. You’ll have a multitude of coverage options. You can add care coordination or adult day care to many policies. Some pay for home modification. Come by to talk to Pete Webb Agency of Fredericksburg, VA about long-term care policy options. You may not have considered it before, but it can help you if you suspect you may develop problems in time due to a family history of diabetes, heart attacks or other health problems.

What are my life insurance options?

Making sure that you have the proper level of personal insurance in place is important for all people. For many people, this includes having medical, home, and auto insurance. However, it also needs to include having life insurance. When you are looking for a new life insurance policy, there are a variety of options available to you. It is important to be able to distinguish between the two most common, whole and term life insurance. 

Whole Life Insurance

One type of life insurance to consider is whole life insurance. This type of insurance can give you life insurance protection for your entire life. Many people prefer this type of insurance because it also acts like a conservative investment. Each month, a portion of your premium will be deposited into an account that will appreciate in value and can be liquidated. While this is a benefit, the cost of the policy tends to be much more than term life. 

Term Life Insurance

When you are looking for the most life insurance coverage, term life is your best bet. With this type of coverage you will only be covered during the term and your premiums will not appreciate like they do with whole life. However, the cost per dollar of coverage is a fraction of what it is with whole life, which can save you a lot of money. 

Getting the right life insurance is very important for anyone in the Fredericksburg, VA area. When you are trying to better understand your life insurance options and needs, you should contact the Pete Webb Agency. The team at the Pete Webb Agency knows all about the various life insurance options that you have at your disposal. They can then work with you to figure out what options is right for your situation. 

What are some common exclusions on a business owners policy?

Hopefully, you have taken advantage of a Business Owners Policy for your small business in Fredericksburg, VA, so you can save money while enjoying the feeling of security that comes with being protected. When you purchased your policy through Pete Webb Agency, though, you probably spent more time discussing what was covered, and little to no time discussing exclusions.

Exclusions Related to Nature

There are several kinds of exclusions related to nature and natural disasters. These may include damage that occurs because of fog, earthquake, and any kind of water damage or flooding, including sewer backup or hurricane. Normal wear and tear are also usually excluded, as is damage caused by rust or decay. Damage caused by insects, birds or animals is unlikely to be covered.

Criminal Acts

While you are protected from several kinds of crimes, like theft and vandalism, there are some that are normally excluded. These normally include any acts committed by you or someone who is in your employee, especially if they are acting in the course of employment. This includes acts of fraud by you or an employee.

Computer or Planning Error

If damage occurred because of poor design or planning, it may be excluded from your policy. Losses that came about because of computer error will likewise be excluded, as will errors and omissions in the computer operations of your business. 

Failure to Preserve

One important exclusion common to many insurance policies is the failure to preserve your own property. In those cases, the insurance company is refusing to pay for what would essentially be your neglect.

You may not encounter all of these perils in Fredericksburg, VA, but it is important to understand what your policy does and doesn’t cover. If you have any questions about your policy, call  Pete Webb Agency and we will be happy to discuss your policy with you.

How Home Insurance Covers Liability Accidents During Family Gatherings

Family gatherings are often most comfortably celebrated in your own home. From birthday parties and holidays to weekend barbeques, gathering with friends and family is a favorite pastime of homeowners. However, unforeseen accidents can occur during these gatherings, leaving you, the homeowner, liable for the damage. Agents with Pete Webb Agency understand the importance of family gatherings in the Fredericksburg, VA area and want you to know the benefits of liability coverage with home insurance. 

Medical Expenses and Bodily Injury

Was someone hurt on your property? When someone visiting your home suffers bodily damage, you as the homeowner become responsible for the situation, although the accident was not intentional. Whether they are inside the home or outside on play equipment, your home insurance policy will protect you and your guest during these situations if you as the homeowner are found as negligent as the responsible party. Even if your guest has their own health insurance coverage, liability can still fall to you. 

Pain and Suffering

Should this liability accident find you responsible for medical expenses, be prepared for the additional costs associated with this claim. Many liability cases often include a settlement for the pain and suffering endured by the party injured in your home. Many times these settlements can cost as much as the medical expenses and always come in addition to paying those bills.

Lost Wages

Finally, should the injury that the party suffered at your home take them out of work for any length of time, expect this cost to be an addition to the other expenses covered in the claim. With liability coverage, you are not responsible for this cost out of your pocket.

Keep Hosting Your Gatherings

If you enjoy hosting your family gatherings, continue to do so with a home insurance policy that puts you at ease should an accident occur. Proudly serving the Fredericksburg, VA area, Pete Webb Agency has a policy available for you today. 

There is a difference between having insurance and being insured…

The business of insurance is a serious one. Most of us work hard each day to build our businesses, save for retirement, and provide for our families. The worst time to find out that your policy does not properly protect you is during a claim. What good is it to buy an insurance policy that does not properly protect the wealth you have accumulated? With that said, we suggest annual policy reviews. It is during these reviews we can identify any potential gaps in your insurance protection. Please give us a call at (540) 693-2720 to schedule a review of your policies.