Mark Thompson Insurance Agency, LLC

Did you know that adding an automatic security gate may help lower your homeowner's insurance premiums? Because it's considered a security system, it satisfies most requirements.

There are a variety of different laws, rules, or practices regarding insurance reimbursements for totaled cars. For example, in some states, in addition to the cost of your totaled car, insurance companies need to pay the sales tax on your replacement car.

RCV (replacement cost value) renters insurance enables you to replace stolen or damaged property with replacement items current to market value. This means that, if you had a two-year-old flat-screen TV stolen, your insurance would replace it with a flat-screen TV of current market replacement value.

It’s important to spend some time with your homeowners' insurance expert to make sure you get the best possible price on your policy. According to 2009 figures, the average yearly homeowners' policy in the country cost $880.

Younger drivers usually pay higher premiums because auto insurance agencies classify them to be at higher risk for accidents and they are also more likely to exhibit reckless driving behavior.

Many companies will offer a discount on your renters insurance premiums if you have fire or burglar alarms, fire extinguishers, sprinkler systems, and/or deadbolts on exterior doors. Some may also offer discounts if you have more than one policy with them.

Homeowner's insurance has two types of coverage. One is “Cash Value” which pays what a house is worth at the time (and includes depreciation). The other, "Replacement Value,” pays the costs of rebuilding using materials of comparable quality.

You should always monitor the tire pressure on your vehicle and keep you tires properly inflated according to the vehicle manufacturer’s recommendation. This is especially important if you travel regularly on the highway as it lessens the chances of a blowout and a subsequent accident.

When you have renter’s insurance, your policy typically covers for accidents within your home, including in cases involving visitors. Some policies include some coverage for no-fault medical for guests as well. This means that you don’t have to wait for a court decision regarding liability for in-home accidents before claiming coverage provided on your renter’s insurance policy.

The average dog bite claim is around $26,000, which makes dog-bite coverage a good idea for homeowners. Many liability policies have dog-bite coverage written into them and are comprehensive.

If your company has a business owner’s insurance policy, it is doubtful it covers company vehicles, just as your homeowners' policy does not cover your car. If you have vehicles that are used exclusively for business purposes, they need proper insurance coverage.

Did you know that you can secure the possessions in your rental home, apartment, or condo for a fraction of the cost that you would spend replacing these items? Regardless of what your budget is, you can likely find some type of renters insurance that suits your specific needs.