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We talk about saving money on auto insurance, homeowners insurance, and - yes - we talk about life insurance!
Announcer 0:00
This is a KU NV studios original program.
Wesley Knight 0:05
The following is a paid program sponsored by your insurance connection. The content of this program does not reflect the views or opinions of 91.5 jazz and more the University of Nevada, Las Vegas, or the Board of Regents of the Nevada System of Higher Education. Dave
Donald Marquez 0:25
Good morning. This is your insurance connection. I'm your host. Donald Marquez, on your insurance connection, we talk about saving money on auto insurance, homeowner's insurance, yes, and we talk about life insurance. Welcome to the show you.
Donald Marquez 0:46
Good morning. My name is Don Marquez. This is another edition of your insurance connection right here at KU NV, 91.5 jazz and more. Good morning. Sunday morning. 8am to 830 our broadcast. I'm a licensed insurance agent in the state of Nevada, California, Louisiana, Texas, and we just added Michigan. So welcome to the show. I'm been here at KU NV, 91.5 jazz and more for three years now, and helping you better understand your insurance, car insurance, home auto life. Today we're going to talk a little bit about life insurance and but we're going to focus on auto insurance today, I'm happy to say that we've added travelers back to the state of Nevada. I'm so glad they came back. I have progressive auto insurance. I have travelers now and Safeco, and I have dairy land, American modern and so, yeah, I'm happy that some companies are starting to come back to Nevada when, if you if you know auto insurance is a little odd in the state of Nevada, you know companies bail out for a while, or They, or they stay away. But, you know, travelers was built, they bailed out for maybe two years. Now they're back, maybe less than two years, and now they're back. Now, when I was quoting with travelers auto insurance company, the rates were quite reasonable in comparison to other companies. So they're one of the companies that I really enjoy writing for, because of the rates, we're reasonable rates, I should say, and every situation is different. Every situation is different. I'm glad to welcome travelers back. Auto insurance. I can write auto insurance, homeowner's insurance, they get you that multi policy discount through Travelers Insurance Company, as well as I have Seiko with the home and auto. Now with progressive, I can only write the auto, not the home, yet I can write a renter's policy with a progressive. Now, this is a Nevada thing. It's not everywhere across the country, because I said earlier, I represent insurance in other states, but you know, in California, only life insurance. California is a whole nother country as well. You know, as New York, that's another country too as well. I can't write insurance in New York, but 48 states, I can write auto and home, other than New York and California, I can write Otto and home, including Nevada. My name is Don Marquez. This is your insurance connection, LLC, broadcasting right here at KU NV, 91.5 jazz and more every Sunday morning, from 8am to 830 if this is your first time tuning in, welcome to the show again. I have valuable information, auto insurance, homeowners life insurance News You Can Use. So let's, let's go right into the auto insurance policy. All right, the first thing I want to know what coverages you currently have, and don't tell me full coverage. Look at your declaration page on your auto insurance policy. Look at your coverages. See exactly what you have. Because having full coverage really doesn't tell me a whole lot. It really does. The only thing it tells me that you have collision and comprehensive insurance, that's it. Most people do know their deductibles. But however, when I ask people, What is your bodily injury, liability, protection, I don't know. I have full coverage. You should know now the minimum state of Nevada is 25,000 per person, $50,000 each accident, $20,000 property damage. But most insurance agents like myself, we don't write 20,000 we write 25,000 just to give you a little extra protection there, most cars on the road are at least worth 25,000 and up now there are vehicles are worth a lot less. However, you know, cars with value are usually 25,000 and up, and that's why I write on the property damage liability is $25,000 worth of property protection. Again, the underlying coverages for the state of Nevada, minimum state requirements, bodily injury, the coverage. Are 25,000 each person, 50,000 each accident. Property Damage is, again, I write 25,000 each accident. That's your property damage, liability protection when I quote you a policy now people, it's, you know, listening to this program right now, you know, you do have an option with the medical expense. Now, again, the medical expense, I sell the medical to people that don't have medical insurance. That's what the medical is for on auto insurance policy, I would say is very few people that want the medical, but it does pay for the paramedics when they come out, if there's an accident, pays for the paramedics, and the paramedics do charge a fee to come out and when you have an accident, to come get you and take you to the hospital, yeah, or UMC, or wherever they're going to take you, it is a fee, and you will receive a bill in the mail
Donald Marquez 5:58
from when you get picked up from but medical expenses usually paid at uninsured and underinsured motorist protection. What is that that is so misunderstood, along with rental car reimbursement, these are the two misunderstood protections on your auto insurance policy, the uninsured underinsured motorist protection protects you and the passengers in your vehicle when a person hits you without without insurance or not enough insurance to protect you and the passengers in the vehicle. So let's for an example. Let's go up, back up to the top bodily injury, liability. Let's say a person does have the minimum state requirements, which is 25,000 each person, 50,000 each accident. They hit your car, they're at fault. You're injured. You go to the hospital, but your medical bills are a lot higher than the state limits, state minimum requirements, at 25,000 50,000 each accident. So well now what you would do because you had sustained injuries more than their policy would pay out. Now you want to file a claim against uninsured under insured motors protection for your bodily injury. Now the uninsured motors protection only pays for bodily injury. It does not pay to get your car repaired and and a lot of individuals I've spoken to over the many years, 30 years in the insurance industry, it's a misunderstood coverage, thinking that the uninsured motors protection will, you know, cover damage for their vehicle. What covers your damages again will go back up to the property damage liability. Now, if a person hits your vehicle, they're at fault. You're gonna file a claim under their property damage liability. Again, the minimum state requirement is 20,000 so if your car costs $20,000 to get it repaired, and a lot of these companies will total it out, I'm just gonna be honest, unless you have a high end vehicle now, they'll see the value of your vehicle, they'll measure the value of your vehicle, you know, we'll just toll it out, pay it off, or whatever they need, or, you know, get it paid off, because you have, you know, liability protection on your car. When you buy a car, you're making payments. You have to have collision and comprehensive now, again, the insurance companies work with the lender to make a settlement if, in fact, you're not at fault. Even if you're at fault and it's a total loss, your lender will pay. Your will go to the insurance company so they get the car paid off, so you're not on the hook. Buyer beware. I can't stress this enough, but the first of the year, people buy cars because of the new models are out, right? They trade in cars all year round. Because anytime you watch a football game, any kind of sporting event, basketball, whatever we watch hockey, we get bombarded with car commercials, cars, cars, cars, cars, even if you're on internet, cars, cars, cars for sale. Cars are always for sale. Buyer beware. You know the GAP insurance. I cannot stress that enough, especially with the expensive cars today and people putting the minimum down, or maybe they'll put in their trade in. And now, if your trade in, it still has a balance due. The balance due will roll over on your new purchase. So when you say, well, I'll just trade my car and get rid of give me a brand new vehicle. So what they if you're not putting any money down, they will roll that balance over on your new purchase. I don't know how to come up with that, but they do. Now, you're still paying for a new car, a new purchase, and you're paying with no money down, you're paying for the balance the price between. Let's for an example. Let's do an example. Let's say your car is only worth 25,000 right? The dealership would say your car is only worth 20,000 25,000 but you owe 30,000 on the car. Right? You. Old 13. Now this is on a trade. They were rolled at negative 5000 on your new purchase, because you are negative $5,000 if you do not put any money down. But that creates a gap, and this is why I'm saying this. Now, when the finance manager asks you, would you like GAP Insurance? Because it is an option. Some you know, some finance managers, I would say, you just put it in there, because they're upside down. But if you refuse to gap insurance, that means you're taking liability responsibility. If that car is in a serious accident and you're upside down now the finance company could come after you for the balance, because now you're carrying a negative balance on top of the new purchase. Again, you've carried over 5000 on your new purchase. Keep this in mind. This is News You Can Use. My name is Don Marquez. This is your insurance connection. Broadcasting right here at KU NV, 91.5 jazz and more. Early Sunday morning, from 8am to 830 licensed insurance agent offering auto insurance, homeowner's insurance, boat motorcycle insurance, and yes, life insurance. My contact phone number is 702-236-2624 702-236-2624, my location Sahara Rancho in the US Bank building, eighth floor. I work by appointment. 702-236-2624, my office is easy to find, right on the corner Sahara and Rancho. I work by appointment, or you can text me and I'll make arrangements. We'll put you in, book you in for an appointment. I work by appointment only. My business hours are Monday through Friday, from 10am to 5pm again, 702-236-2624, my name is Don Marquez. This is your insurance connection LLC, talking about auto insurance today. Now I went over the uninsured motors protection. Now again, your uninsured motors and your bodily injury protection should match for an example, some people carry the higher limits of liability. I do. I've been in car accidents, one that was my fault, and I've been in several that was not my fault. It's always women that hit me for whatever reason, women hit me from from rear and collision in my vehicle, and they always get out the car, so I'm sorry, pay attention, and when you're driving, listeners, do not do not text and drive. This is one of the major causes why we have so many car accidents in Nevada. Pay attention. Do not tailgate. If a person stops and you hit them from the rear, rear and collision bumper to bumper, you're at fault. Now, you know, I don't care what you say you're at fault. Well, you know, they was driving too slow. You need to be at a safe distance. You're at fault. Let's continue now, the bodily injury, uninsured motors protection should match. So if you have the higher limits of liability at 100,000 per person, 300,000 each accident, your uninsured motors protection should be 100,000 per person, 300,000 each accident, to keep it consistent. Now when, when you have those higher limits of liability, what I will, I would, I'm going to do is put your property damage at $100,000 that means if you go out and hit a $70,000 vehicle, you have enough coverage to protect that vehicle. If there's a total loss or if the car can be repaired, you have enough coverage at $100,000 property damage to protect the car. But don't hit a $300,000 Rolls Royce, your product, your car will probably get all the damages, and you probably only scratch the rolls. Royce, to my understanding, they built like tanks, and they still built like tanks. Let's go collision and let's collision is when the protection is there. This is when you have your deductible. Well, you know, deductible started as low as $50 and up they can go into $1,000 deductible even $2,500 deductible. Keep in mind, the higher the deductible, the lower the cost of car insurance. Again, the higher the deductible, the lower cost of car insurance on collision. This is where we can save you some money on the collision damage on your on your deductible. Now your deductible again, it starts at $100 most people have $500 but I encourage my listeners, my customers, to carry $1,000 on collision and then, no, well, I don't want to pay $1,000 you know, when you pay that deductible to the body shop, they just put that right in their pocket.
Donald Marquez 14:41
Yeah, when? When they tell you, when they when you go into a body shop, who's paying for this? You are the insurance company, and you say the insurance company was my fault, my accident. Here's, here's my car. What is, what is your deductible? They want to know what your deductible is. Oh, I have a $500 deductible. Give them. In your money. I'm gonna put it right in my pocket. That's what they do. They put that money in their pocket. Now, when the adjuster comes out and review the damages on your vehicle, you know they don't know all the damages, because they don't take the car apart. They just look at it for like maybe 1015, minutes. They go over the damages, they talk to the body shop, and then they're gone to the next body shop. They're in body shops all day, every day. So what they do? They give enough coverage. They try to give enough coverage to cover the damages according to what they see. Now they sometimes they give a little over they give a little over and above the damages they see, just in case, for unforeseen damages. Now what I do if I'm in a car accident, it's my fault. I need my car repaired, and I have $1,000 deductible on collision, I take a cash settlement from the insurance company. Now, when the adjuster comes out, okay, what do you want to do? What body shop you want to go to? That's what they ask. Or if you already your car is already at the body shop, tell them you want a cash settlement. I want a cash settlement. Okay, so they'll give you a cash they'll write the check out to you, minus your deductible. Now you talk to the body shop, you negotiate with the body shop, getting your car repaired. Let's say, for an example, you have $4,500 worth of damage on your car, right on the estimate, because you told them the insurance company is going to pay for it. All right? So they are $4,500 you the $1,000 deductible. They've already increased your repair by $1,000 automatically. Right now, when you when the adjuster comes out, they're going to give you a check for $3,500 because it's minus your $1,000 deductible. Now you have 35 $3,500 to get your car repaired. $3,500 to get your car repaired. I don't think that body shop is going to let you walk out the door, even if you have to pay a little extra, you know, to get your car repaired, it's probably less going to be less than a full $1,000 deductible. Now, one Christmas, just to give you an example, young lady called me up. It was during the holidays, and this is about seven years ago. She said, I'm in a car accident. I don't know what to do. You're my agent. Dave Marquez, what can I do? And I said, Take a cash settlement. It was your fault. Yes, take a cash settlement. The insurance company gave her $4,000 she got her car repaired for $2,000 she called me back. She said, I found a body I did exactly what you told me to do. I found a body shop, repaired my vehicle for $2,000 What should I do with the other $2,000 I said, that's your money. She said, really? Oh, she was so excited, because it was during the Christmas holidays. She said, Oh, so wonderful. Thank you so much, Mr. Marquez, now I can have my children. Was going to have an excellent Christmas. I get a little excited talking about it, because, you know, she just called me out of the blue and just, you know, car accident in December. Who wants that? But she got settled. Car was repaired. She kept put an extra $2,000 in her pocket. Sometimes that happens, you know, and I don't know who repaired a car. I didn't see it, but it was enough to satisfy her and to keep her rolling and gave her extra money for her to buy Christmas presents for her children. Now, that always doesn't happen, but what it does happen is prevents you from paying your deductible, because now you can $1,000 deductible. It's happened to me several times. I was hit or I hit someone. They didn't have insurance. One when it was incident, they did not have car insurance. I had to use my insurance, and I got I received a cash supplement, and I use that to get my to get my car repair didn't cost me anything. This is News You Can Use. My name is Don Marquez for more information. My contact phone number is 70223626247022362624
Donald Marquez 19:00
located Sahara Rancho in the US bank center, eighth floor. I'm there Monday through Friday, from 10am to 5pm I'm out and about now. I do a lot of business over phone, especially when it comes to auto insurance quotes. Yeah, I rather do auto insurance code over the phone. It's gonna save you guys some time you know, to go see me. If you're living in Summerlin, you don't want to drive all the way over to, you know, the center of town for auto insurance quote. We can work, I can work the auto insurance quote over the phone. And I'm happy to say again, I have just, we just brought the back travelers in the state of Nevada, travelers, auto insurance company, you know, their rates are pretty well. They were pretty decent. Hopefully this time around, coming back to the state of Nevada, 702-236-2624, now on your auto insurance, you have other than collision. What is that that is comprehensive? You. Comprehensive is wind theft repair replacement, a repair of your windshield. Wind theft vehicle replacement of windshield. Because some of these windshields are very expensive, because I have all these sensors in the windshield. Of course, some of these windshields, you know, they with the antenna in the windshield, they I don't know if they still do it that way or not, but it used to be back in the day, the antennas and the windshield. But now these windshields, they have the heads up display. I mean, they're really sophisticated today. Now if you have $1,000 deductible or comprehensive, you may end up paying for that windshield doesn't work the same way with collision with comprehensive. So with comprehensive coverage, you want a lower deductible, okay, higher deductible with collision, lower deductible with comp comprehensive. Because if you need a windshield, and your windshield is, let's say, for an example, $800 and you have $1,000 deductible and you need to replace a full windshield. You're gonna buy that windshield for $800 now your car insurance just went up $800 the difference between $1,000 deductible on comprehensive and $100 deductible on comprehensive on your vehicle is not a significant amount. Probably what it costs to go through get a burger at a five drive through restaurant for six months. I mean, that's just the difference right there, which is not a lot now, but if you double it up and get the double double burger, double fries, double double double, you know, with the extra cheese and the onions and all that, yeah. I mean, it's still about the price of all of that going through the drive through, or not going through the drive through. It's not that significant. I'm gonna quote the lower deductible, no more than $250 on comprehensive. I usually go around $100 on comp, because I'll say, Well, you know, I want $1,000 keep my rate down, because you said, the higher the deductible, the lower the cost. Yes, I did, but I'm talking about collision now on a comp, I'll give you the price of the $1,000 deductible, and I'll give you price on $100 deductible, I will say 100% of the time. I can honestly say this, people take the $100 deductible because I explain them to them. If you need a windshield, you're only going to pay $100 for the windshield. My name is Don Marquez. This is your insurance connection broadcast every Sunday morning from 8am to 830 if you just tune in for the very first time. Welcome to my show. Don Marquez, licensed insurance agent. The name of my business is your insurance connection LLC, located right here in Southern Nevada on the corner of Sahara Rancho in the US Bank building, eighth floor, 702-236-2624 is my contact phone number, 702-236-2624 toying and labor. Now, if you're not in a motor club, I'm going to add towing and labor on your auto insurance policy, because your car needs to be towed. Never know what may happen, especially if Now, some people may say, Well, you know, I have motor club. And now, if you have a motor club car card, I don't need to add you towing and labor on your on your vehicle. I don't because you already with a motor club. Some credit unions offered, some motor club companies offer you that you don't have to have their car insurance, but you do have their motor club, your membership. Rental Car reimbursement. This is one of the most misunderstood coverages, rental car reimbursement, rental car expenses. It's not when you travel and you want a rental rental car. Most people don't even buy rent and get rental cars anymore for traveling. They just, you know, they get to ride share. It's because, if we're not, I've traveled and I want to, I remember, and I went to my son and I we flew to Atlanta, Georgia for the New Year's. It's a while back about four or five years ago. So when we flew in the airport, had a rental car all ready to go. Okay? The rental car price is very reasonable. Drove the car to the hotel. Good God, the fee for parking. And, you know, living in Vegas all our lives, you know, most of us, we don't, we never pay for parking, but now we do in some locations, right? But when I, when I got to the hotel, checked in this, well, you know, your parking fee is going to be this much money per day, my son said, well, that for that much money, let's just get a share ride. Let's take the car back and get a share ride. But this is the misunderstood you know, coverage is rental car reimbursement. The rental car reimbursement is not when you travel to get a rental car. It's when your car is in a covered loss, and you need transportation, right? So your car is in an accident, you need transportation. The insurance company will provide you with a rental car. So. This is, hopefully all the coverages, the limit, the coverage limits, the liability portion of the policy is understood. Now I'm just going to piggyback a little bit on the bodily injury liability, right? If you own a home, a business, do not care the minimum state requirements. You're not covering your assets. You need to cover your assets with the higher limits of liability. It's, yes, it does cost a little extra, but not a whole lot extra, but it protects your personal property, your personal assets that you have expansively, if you own a business, a home, you know liability, you know ads. I mean, it's reason why you have to carry insurance, and don't ever say to yourself, well, you know, I never get in an accident. Well, you know, you're lucky, but don't ever say never, because it could happen, and it happens when you least expect it. No one wakes up in the morning and want to have a car and want to have a car accident. Keep that in mind, hopefully. Hopefully, that's news. You can use rental car reimbursement. If you, let's say you own two cars and two cars and you in an accident, you may or may not need to use a rental car reimbursement or have the coverage at all. Now, some people have two or three cars. I've talked to a gentleman he owned three cars and I and he said, You're going to put rental car on my policy. I said, No, because if you're a car accident, right, you can use your other two cars. You said, Well, what about when I go out of town and you want a rental car? See again, most misunderstood protection is rental car reimbursement. It is only for when your car is in a car accident, so you won't be without transportation, and that coverage lasts about 30 days. My name is Don Marquez. This is your insurance connection. 702-236-2624 702-236-2624, hour for auto insurance, homeowners, renters, boat, motorcycle insurance and life insurance. I have life insurance policy whole life part of policies up to $50,000 in coverage, no physical exam required. Protection starts from very first day, and it also builds cash value a whole life policy for final expenses. You know that only 30 minutes to get qualified at 702236, 702-236-2624, my name is Don Marquez. This is your insurance connection. My name in my business is your insurance connection LLC, we'll do this again next week, from 8am to 830 everybody, go out and grab some of the sunshine in your face. Go out and take a walk. Enjoy your day. See you next week, until then, just keep it crispy. You.
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