Shield Insurance

Toys for Tots Collection Center at Shield Insurance

Toys for Tots Christmas Fun Center

Posted on by Shield Insurance Agency

Toys for Tots through our Marines and volunteers are determined to spread some fun and joy throughout the holiday season

Fun activities for kids “from one to 92” and beyond!

We hope that in this challenging year in which we’ve ALL had to do a lot of adapting — and so many children and families’ lives have been turned upside down — that these fun activities will bring you joy and some much-needed cheer! Please help yourself to any of these fun Christmas holiday activities. And feel free to share them freely with friends and family!

Toys for Tots Collection Center at Shield Insurance

Click here to visit their page filled with Letters to Santa options, fun coloring pages, and lots of mazes and activities to keep you and the children busy!

Toys for Tots Holiday Activities
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Independent Agents vs Captive Agents - Shield Insurance Agency Blog

Independent Agents vs. Captive Agents

Posted on by Shield Insurance Agency

When you’re in the market for insurance, whether it’s home, auto or commercial insurance, you typically work with an agent who can help you find a policy that meets your needs. But most people don’t know that there are two different kinds of insurance agents—captive and independent agents.

So what is an independent insurance agent vs. a captive insurance agent? In short, captive insurance agents are contracted to work for one insurance company and can only sell that company’s policies. On the other hand, independent agents are contracted to work with a variety of insurance companies and can sell policies from multiple providers.

As a consumer, it’s important to understand the distinctions between captive and independent agents. Although they sound the same, some people may benefit from working with a captive agent and others with an independent agent. In this article, we’ll explain the key differences and help you decide which agent is best for you.

Captive Agents

Most of the major insurance companies, like State Farm, Allstate and Farmers, use captive agents to sell their insurance products. Their agents are only selling policies from that one insurer, so the agents are experts at knowing the different policies available, discounts and coverage add-ons for their one carrier.

Because of that, they can be helpful for people who are buying insurance for the first time or for people who aren’t sure how much coverage to purchase.

Client satisfaction is crucial for captive agents because they get a commission for every earned sale. However, their commission rate tends to be lower than for independent agents because they are also paid a salary from the insurance company and get financial assistance with costs like advertising and hiring.

Independent Agents

Independent agents partner with several insurance companies of their choosing to sell certain policies from each provider. For example, an independent agent might contract with Pioneer Insurance, Frankenmuth Insurance,and Citizens Insurance and sell any of their auto and home insurance policies.

Many consumers like working an independent insurance agent because an independent agent gives the customer more options. They aren’t locked into purchasing from a small number of plans that might be too expensive or not a great fit for their coverage needs. Those options help people shop around for plans before settling on one.

Which is better?

Generally speaking, there isn’t one better type of insurance agent. Whether you choose to work with a captive agent or an independent agent depends on you.

The main benefit of working with a captive agent is that they have extensive knowledge of their insurers products and policies, because they have one carrier. However, working with a captive agent tends to be more expensive, due to extra fees that the insurance company charges.

If you work with an independent agent, you’ll get more options, which also means a wider price range. But independent agents have in-depth knowledge about numerous carriers, where captives only need to learn one. Also, independent agents usually charge less because there isn’t one parent company to support.

If you’re concerned with keeping costs low, working with an independent agent will save you money. Keep in mind that you should already have a general idea of what you’re looking for before meeting with an agent.

Frequently asked questions

What type of insurance do independent agents and captive agents sell?

Both independent and captive agents can sell any kind of insurance they want. Some choose to sell every product that an insurer offers, while others specialize in a few areas, like home and life insurance.

Should I choose an independent agent or a captive agent?

There are a few main reasons why you would choose an independent vs. a captive agent. The first is cost—working with an independent agent will be cheaper than working with a captive agent. Secondly, independent agents can offer a wider variety of plans, so you have more choices and a wider price range to work from.

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How To Improve Your Credit – Shield Insurance Agency Blog

How to Improve Your Credit Score

Posted on by Shield Insurance Agency

CNBC Select explains what range is considered to be a bad credit score, how to get a free credit report, and how to improve your credit score fast.

Having a bad credit score isn’t the end of the world, as long as you work toward improving it.

While bad credit may make it more difficult to achieve financial milestones, such as being approved for an auto loan or mortgage, there are steps you can take to repair your credit score.

Lenders look closely at your credit report when determining whether you qualify for the credit, such as credit cards or loans. One of the factors they consider is your credit score. This three-digit number is calculated by analyzing your financial actions, such as debt and payment history, to predict your ability to repay the money lent to you.

If you have a less than stellar credit score, you should take action as soon as possible, so you can work toward good credit and increase your odds of being approved for financial products like credit cards and loans.

Below, CNBC Select explains what credit score range is considered bad, how to improve a bad credit score, and how to get a free credit report.

The rundown: Bad credit scores

  • What is a bad credit score?
  • How a bad credit score can hurt you
  • How to improve a bad credit score
  • How to check your credit score for free

What is a bad credit score?

Credit score ranges vary based on the credit scoring model used (FICO versus VantageScore) and the credit bureau (Experian, Equifax, and TransUnion) that pulls the score. Below, you can check which credit score range you fall into, using estimates from Experian. Take note that the credit score lenders use varies, though 90% pull your FICO score.

FICO Score

  • Very poor: 300 to 579
  • Fair: 580 to 669
  • Good: 670 to 739
  • Very good: 740 to 799
  • Excellent: 800 to 850

VantageScore

  • Very poor: 300 to 499
  • Poor: 500 to 600
  • Fair: 601 to 660
  • Good: 661 to 780
  • Excellent: 781 to 850

What factors influence your credit score

Credit scores are calculated differently depending on the credit scoring model. Here are the key factors FICO and VantageScore consider.

FICO Score

  1. Payment history (35% of your score): Whether you’ve paid past credit accounts on time
  2. Amounts owed (30%): The total amount of credit and loans you’re using compared to your total credit limit, also known as your utilization rate
  3. Length of credit history (15%): The length of time you’ve had credit
  4. New credit (10%): How often you apply for and open new accounts
  5. Credit mix (10%): The variety of credit products you have, including credit cards, installment loans, finance company accounts, mortgage loans and so on

VantageScore

  1. Extremely influential: Payment history
  2. Highly influential: Type and duration of credit and percent of credit limit used
  3. Moderately influential: Total balances/debt
  4. Less influential: Available credit and recent credit behavior and inquiries

How a bad credit score can hurt you

Denials for credit

A bad credit score can reduce your approval chances for credit cards and loans, making it difficult to accomplish many goals. If you want to get out of debt with a balance transfer card, such as the Discover it® Balance Transfer, you’ll need good or excellent credit. And if you want to earn rewards or receive luxury travel perks, it’ll be near impossible to find a card that accepts bad credit.

Less favorable loan terms

If you’re approved for credit, odds are you’ll receive less favorable terms, such as high-interest rates or annual fees, compared to applicants with good credit. For example, one of CNBC Select’s best credit cards for bad credit, the OpenSky® Secured Visa® Credit Card, has a $35 annual fee; though there are no annual fee options.

Limited credit card choices

Bad credit limits which credit cards you can qualify for; the options you have will be primarily secured cards. While a secured card, such as the Discover it® Secured or the Capital One® Secured Mastercard®, can help you rebuild credit, you’re required to make a security deposit — typically $200 — in order to receive an equivalent line of credit.

Take note that even if your credit score falls within the bad range, that is not a guarantee you’ll be approved for a credit card requiring bad credit. Card issuers look at more factors than just your credit score, including income and monthly housing payments.

How to improve a bad credit score

If you have bad credit, take some time to review your credit score and identify the cause. Perhaps you’ve missed payments or carried a balance past your bill’s due date. In order to achieve a fair, good, or excellent credit score, follow the credit-building tips below.

  • Make on-time payments. Payment history is the most important factor in your credit score, so it’s key to always pay on time. Consider setting up autopay to ensure on-time payments, or opt for reminders through your card issuer or mobile calendar.
  • Pay in full. While you should always make at least your minimum payment, we recommend paying your bill in full every month to reduce your utilization rate, which is the percentage of your total credit limit you’re using. To calculate your utilization rate, divide your total credit card balance by your total credit limit.
  • Don’t open too many accounts at once. Every time you submit an application for credit, whether it’s a credit card or loan, and regardless if you’re approved or denied, an inquiry appears on your credit report. Inquiries temporarily reduce your credit score by roughly five points, though they rebound within a few months. Try to limit applications as needed and shop around with prequalification tools that don’t hurt your credit score.

How to get a free credit score

There are dozens of free credit score services available that offer your free FICO Score or VantageScore. Here are some popular free credit score resources.

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Avoid Deadly Distractions Behind The Wheel – Shield Insurance Agency Blog

Avoid Deadly Distractions Behind The Wheel

Posted on by Shield Insurance Agency

Avoid Deadly Distractions Behind The Wheel

Not texting is a start, but there’s more to safe driving.

Here’s the bad news: Distracted driving causes thousands of accidents every year, many of them fatal. The good news? If you’re driving, it’s 100% preventable.

You’ve seen them around your city or town. You may know a few of them.

And you might even be one yourself.

Distracted drivers come in all shapes and sizes, all makes and models. And even if you’re not one today, you could become one at any moment—in the time it takes you to answer your phone, or check the kids in the back seat.

But before you say, “I can talk on my phone and drive just fine,” think about this: According to the National Highway Traffic Safety Administration and U.S. Department of Transportation, in 2016 nearly 400,000 people were injured in crashes caused by distracted drivers—and in 2015, more than 3,400 were killed.

It’s not just about texting, either. Although that is perhaps the most dangerous distraction, there are many others that can impact how you drive, whether you realize it or not. And they can be just as deadly.

Here are just a few of the things that can distract drivers on the road:

  • Talking on the phone, even with a hands-free device
  • Eating or drinking
  • Talking to passengers
  • Grooming (yes, there really are people who apply makeup or shave on their way to work)
  • Reading, including maps
  • Adjusting the stereo

Younger drivers are the most distracted of all—according to the NHTSA, teens were the largest age group reported as distracted at the time of fatal crashes.

With distractions more prevalent than ever—nearly 800 billion text messages are sent in the U.S. every month, for example—how can you, and those you love, be safer behind the wheel?

Here are a few tips:

  • Don’t use the phone: This includes texting as well as talking, unless it’s an emergency. Even hands-free conversations can take your attention off the road.
  • Eat before you leave, or after you get there: Scarfing down that burger with one hand on the wheel means your focus is divided—and you probably don’t have as much control over your car as you should. Bonus benefit: Keeping your meals and your driving separate means you’re much less likely to get ketchup on your pants.
  • Know where you’re going: Nobody likes to be lost. But messing around with your car’s GPS (or the maps app on your smartphone) while you’re moving can lead to something you’ll hate even more—an accident.
  • Talk to your family about safe driving: Having a conversation with your spouse as they’re driving home? That’s a perfect opportunity to say, “I’ll let you focus on the road; we can talk when you get here.” And if you have young drivers in the household, be sure to have a conversation about their phones and other potential issues, such as their passengers—a key distraction for teens.
  • Watch for other distracted drivers: Just because you aren’t distracted doesn’t mean that other drivers are focused on safe driving. Stay in control and be vigilant—you’ll be ready to react when someone else makes the wrong move.

Distracted driving isn’t just “one of those things” that happens, like a tire blowout or mechanical failure that isn’t anyone’s fault. It’s 100% preventable—and by committing to avoiding distractions while you drive, you’ll help make the road safer for everyone.

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New Jewelry? Insure Those Valuable Gifts! – Shield Insurance Agency Blog

New jewelry? Insure those valuable gifts!

Posted on by Shield Insurance Agency

New jewelry | Shield Insurance Blog |

The holidays provide us with good reasons for presenting special – and often valuable – gifts to our loved ones. In the excitement of surprising someone with a gift that makes a big impression, remember that properly insuring expensive gifts can bring you peace and joy long after the holiday season is over.

Follow some easy tips for insuring new jewelry and valuables:

  • Consider taking advantage of a store or manufacturer’s warranties or guarantees, but don’t mistake them for insurance. For example, some major jewelry chains offer limited guarantees on gemstone and diamond replacement or repairs. This is a wonderful perk so long as the store is in business and you comply with regular inspections and the terms of the guarantee agreement. But in the event that your jewelry is lost or stolen, it is unlikely that the store will be able to help you. Talk with your insurance agent about your valuables and the best options to protect them.
  • Be sure to insure your expensive purchases to value, not just what you paid for them. Door buster specials during the holiday season may enable you to get a remarkable price on an item, but if you only insure for the price paid, you may not be able to get that same deal if you have to replace it later. The value of precious metals and gemstones fluctuates, so getting an appraisal can help you and your agent determine the appropriate amount of insurance. (And, don’t hesitate to ask your jeweler to provide an appraisal gratis as a way to close the deal. It never hurts to ask, and the cost of an appraisal may be worth it to the jeweler to make the sale.)
  • Take a photo of new, valuable items, and have it ready – along with any copies of the receipt, serial number, appraisal or certificate – when you talk to your agent about the right coverage for your items.
  • Get to know your policy’s limits. Coverage for expensive electronics differs from the protection for a diamond bracelet. Your agent can help you understand your policy and customize it to make sure it protects all of your valuables, whether the item is something you watch, listen to or wear.
  • It’s natural to want to bask in the warm feelings generated by giving someone special a present that wows, so consider insuring the gift as soon as you purchase it and before you present it. That way, you’re giving an extra gift that lets the recipient know, “It’s already taken care of.”

You may be thinking, “Most homeowner policies have built-in limits that cover high ticket items, right?” But depending on what you are fortunate enough to already own, you may have reached those limits. So, be sure you’re covered by talking to your agent about the coverage that will work best for your new valuables.

With a little planning, you can make sure that your holidays – and future – will be merry and bright.

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