Auto insurance is mandatory in Opelika, AL and for that reason, you need to obtain it before you can register and drive your vehicle. If you haven’t already purchased an auto insurance policy, you may see the task in a negative way. However, there are some tips you can learn about right now that will ease your mind. Read on to learn more.
1. Compare Several Quotes
Start by comparing multiple quotes from different insurance carriers. Go over each one, comparing price and coverage. This way, you’ll be sure you did your due diligence and selected the right policy for the right price.
2. Bundle Your Policies
Do you know how to save the most money on your new auto insurance policy? It’s simple. Bundle all your new and existing policies under one carrier. You can bundle home, life, commercial, umbrella, renter’s, and more for maximum savings.
3. Work with a Reputable agent
Our agents at Elliott & Associates Insurance are standing by to help you reach your auto insurance buying goal. Call anytime to speak with a friendly, reputable agent who can assist you in purchasing auto insurance in Opelika, AL. We will help you compare quotes, bundle policies, and save money and time. We’ve been doing this for a long time and know the insurance industry inside and out. Not only can we help you purchase a new auto insurance policy, but we can also help you renew one or take a look at all of your policies and see what changes we can make for better coverage at a better price.
To learn more, contact Elliott & Associates Insurance. Call us today!
You love your classic car. We know. And that’s why we want to make sure you have the best classic car insurance policy for your needs in Opelika, AL. How? By detailing the top three tips for purchasing classic car insurance that will help you get started. It’s really that easy. Read on to learn more.
1. Compare A Few Quotes
Classic car insurance policies differ from one to the other. For this reason, it’s important to compare several quotes before making a decision. Go over the quotes with a reputable agent, comparing the detail in each, such as cost vs. coverage. The cheapest insurance isn’t always the best, so keep this in mind when comparing quotes for your classic car.
2. Bundle Policies under One Insurance Carrier
Insurance companies love to reward loyal customers by bundling policies to help save on premiums. Bundle your life, auto, homeowners, and umbrella insurance under an existing insurance carrier or take advantage of a reputable agent from Elliott & Associates insurance to help you find a new one. Don’t forget to ask your agent about other ways to save money, such as a senior citizen discount.
3. Work with a Reputable Insurance Agent
Navigating the world of insurance takes some know-how. That’s where insurance agents come in. They help you find the best policy for your needs. Choose a reputable agent with a warm, friendly personality to answer all your questions, help you compare quotes, and bundle policies.
To learn more about classic car insurance, contact Elliott & Associates insurance serving the Opelika, AL area. Our friendly agents are standing by to take your call and find you the best insurance policy at the best price.
So you’ve purchased an RV and are excited to hit the road but before you do, you need to make sure your RV is protected by having the correct insurance policy in place.
RV insurance covers all recreational vehicles as well as trailers, horse trailers, and several other types of campers and trailers you either drive or pull behind your car, truck, or SUV. If you have an RV you drive, though, you need to follow the requirements of the state of Alabama.
Types of Coverage
In Alabama, it is required that you at least have liability insurance on your RV, just like any other vehicle you drive. This type of policy provides coverage for property damage or injuries sustained by others if you are involved in an accident with your RV in which you are deemed to be at-fault.
Uninsured and Underinsured Motorist Coverage
This type of insurance coverage will protect you if you are involved in an accident with a driver who does not have insurance or does not have enough insurance to cover injuries and damages sustained in the crash.
If you purchased your RV with a loan or just want more peace of mind, this policy will protect your investment by covering your RV if it is damaged or destroyed by fire, vandalism, or natural disaster.
This type of insurance will cover your vehicle if it is involved in an accident, no matter who is deemed to be at fault. It will also cover your RV if you hit an object, such as a telephone pole or building.
The trusted RV insurance agents at Elliott & Associates Insurance in Opelika, AL are ready to assist you so call for an appointment today!
Renting out your house instead of listing it on the real estate market is a common, and even profitable, way to hold on to your property when you aren’t currently living in it as a primary residence. Some homeowners choose this direction when they want to wait to sell when their second home’s value increases or the market turns in their favor. Others may want to come back to this property for retirement or are holding on to it for their family’s future use.
Whatever your reasons for deciding to rent out your property, some planning and preparation need to go into your home — not to mention your new role as a landlord — before you can start advertising it to the world. The first decision to make is determining if you want this to be a long-term rental, as in asking for year-long leases from tenants, or a short-term rental, such as listing your property on Airbnb or VRBO. This guide will walk you through:
Setting up your house as a
short-term or long-term rental
How to find out how much to rent
your house for
Knowing your legal rights and
Putting on your landlord hat
Pros and cons of short-term vs.
Setting up your house as a rental
Whether you’re setting up your home
for a long-term or a short-term rental, you’ll need to be sure that
it’s ready for your renters to move into. Either way, you want to
double-check to make sure that:
All appliances are safe and in working order.
Entry to the house, whether by key or lock pad, is secure and accessible.
The house is clean, and if furnished, the furniture is not broken or damaged and in good condition.
If you’re going to be renting your house for short periods on a site like Airbnb, you’ll want to take the right steps to set up your profile correctly. You will need to include information like:
Your home type and how many people
your space can accommodate.
If you allow children and pets,
and if there are any additional fees for them.
An overview of your home and the
area nearby, along with highlighting any amenities that guests can
expect to enjoy when they stay in your house.
How to find out how much to rent your
When renting out your house, you’ll need to understand how much rent to charge to make sure you cover all of your costs — mortgage, property taxes, insurance, utilities — and be able to set aside some funds to put toward maintenance and upkeep. You’ll also need to cover costs associated with rental applications like conducting background and credit score checks on tenants, as well as hiring cleaning services, a property manager, and contacting referrals.
However, once you determine a price that covers your needs, you’ll need to search and compare it to other rental homes of the same or similar quality in your zip code area; this applies to both short-term and long-term rental properties. Redfin offers a rental estimate that will help you in determining how much to rent your home for.
When getting your business and finances
in order to list your home as a short-term rental, you’ll want to:
Do your research on Airbnb or VRBO to see the price range that other homes in your area rent for.
Consider offering a discount for extended stays. Also consider increasing the rent on weekends, holidays and other high-travel seasons.
Factor in cleaning costs, pet deposits, and other upfront non-refundable fees.
Protect yourself and your property with insurance.
Pro tip: For new hosts, Airbnb
recommends listing your price lower than the suggested rate, so you
can get a few immediate reviews and build up your credentials.
When organizing your finances and
business to offer your home as a long-term rental, you’ll want to:
Determine the length of the lease you’ll offer.
Set a price for security, pet, and other deposits.
Consider hiring a rental manager such as a property management company to handle rent and late fee collection, take care of repairs and deal with vacancies and evictions.
Protect yourself and your property with insurance.
List your home on applicable rental sites such as Craigslist, Facebook, etc
Once you have settled and secured the business aspects, you’ll want to speak with a lawyer or real estate company to make sure you not only understand your legal responsibilities but that you have them all covered.
Know your legal rights and
The essential contract for a long-term rental is a lease agreement. As a landlord, you need to be sure all of the terms of the rental situation are outlined on paper and signed by all parties involved. You’ll want to make sure your lease outlines the following:
Length of lease
Security deposit amount
Rental due date and penalties for
late or missed payments
Responsibilities for repairs,
basic upkeep, and maintenance — be sure to be specific about lawn
care and pest control
List of names of all tenants
Policies about pets, painting,
noise levels, homeowners association dues and rules, and smoking
All related deposits
Consequences for damaging the
When thinking about the length of the lease, keep in mind that a month-to-month lease gives you the flexibility to sell when you’re ready, while an annual lease is a more stable option for those holding on to the property. Either way, have a lawyer look over the lease to make sure you’ve included all of the necessary components. You also need to research the landlord and tenant laws in your state. When it comes to disputes, some states automatically favor the tenant over the landlord, so it’s important you know the laws, rules, and regulations for your specific state.
When it comes to a short-term rental, signing a lease is usually not involved, but you still need to make sure that your renters understand and follow your policies. You want to be specific about cancellation policies, adding additional guests, steps for clean-up or check-out, and roles around any amenities like swimming pools, hot tubs or kitchens.
Put on your landlord hat
When you decide to rent out your home, you have to be sure to separate yourself emotionally from your renters. While it’s important to be flexible when you can, remember that this is a business. A good landlord is someone who is firm but kind, understanding but not easily taken advantage of. Other qualities of a good landlord include:
Good communication with quick
Reliable and responsible, and
always acts honestly and with integrity
Well-organized and thorough,
paying close attention to detail
Utilizing and developing all of these
qualities will enable you to establish a strong, cordial and candid
Pros and cons of short-term vs.
There are many reasons to rent out your property, but deciding how to rent it out can be just as challenging as deciding who to rent it to. How do you know which is the best choice for you?
Short-Term Rental Pros
More lucrative, especially if you live in a tourist destination
Adjustable in regard to time and money in order to fit the demand
Flexible with scheduling so you can use the property for vacation when you have the time
Possible qualification for tax breaks & deductions that are specific to short-term rentals, like the 14-day rule
Generally less wear and tear on your property
Necessary to furnish and clean on
a frequent, regular schedule
Some states, cities or
municipalities require short-term rental landlords to complete
complex paperwork and hike a mountain of red tape
Accounting for negative financial
gains during slower periods
More competition from surrounding
Typically more tasks and items to
Long-Term Rental Pros
More stable and reliable tenants with less rental turnover
More consistent pay & income
Fewer bills that need to be covered by the landlord
Generally does not need to be furnished
Long-Term Rental Cons
Potentially larger gaps between
Less control over the property
Finding the right tenants may take
The eviction process can be
time-consuming and costly
You won’t find a one-size-fits-all
package when it’s time to decide on a short-term or long-term
rental plan. The benefits — and shortcomings — associated with
both are clear. It’s important to always keep sight of your goal:
maximizing your property’s return on investment.
Short-term rentals in Opelika, AL are becoming extremely popular among investors. Throughout the years, these rentals have spurred positive economic growth by increasing tourism activity. This is of particular advantage in cities that don’t enjoy high levels of tourism. Elliott & Associates Insurance specializes in short-term rental insurance. Let’s take a closer look at the advantages of short-term rentals.
What Are Short-Term Rentals?
Short-term rentals are most often described as vacation homes. Tenants can rent them anywhere from one night to three to four months. Some even choose to rent them for longer, but the longest rental is usually around six months. Think to vacation in Florida for the summer. A family rents the vacation home at the end of the school year in May through the summer up until August. One of the most common types of short-term rentals increasing in popularity these days is known as Airbnb.
For owners of short-term rentals, you can the flexibility to rent as you please. If you want to use the home for six months out of the year, you can while renting it out the other six months. Short-term rentals maximize flexibility, making it easy to rent according to a schedule that fits your lifestyle.
Increases Earning Potential
Short-term rentals are extremely lucrative when compared to long-term rental properties. You set the rental rate based on demand, which will be incredibly high during certain parts of the year. Ideally, you want your rental in a location where people like to vacation.
Less Wear and Tear
People taking advantage of short-term rentals usually stay only a few days at a time, and during those days, they are typically out and about exploring the nearby areas. This means they don’t put much wear and tear on the rental unit. This makes it easier to keep the property in optimal condition.
If you would like to learn more about the benefits of short-term rentals, please contact Elliott & Associates Insurance serving the Opelika, AL area.
Insurance is something that all business owners should have on their businesses. That being said, it may be difficult to figure out what type of insurance your state requires you hold. For those that live in the Auburn or Opelika, AL area, the agents with Elliott & Associates Insurance can help you determine what type of insurance you need.
Commercial insurance can protect your company from a great deal of hassle. In some instances, you will be required to have this sort of insurance coverage. The requirement for this type of coverage is dependent not on where you live, but rather on the particular lender that you used to get the money to open your business. In some cases, you are going to be required by your lender to hold a policy to help cover their interests. This means that your lender is likely to require that if you have a loan, you have to have an insurance policy in the same amount as the loan or more so that if the business is destroyed, you are still able to repay your loan.
Even if you are not required to hold a commercial policy, it is always a good idea to have some sort of insurance in place to help recover should your business be destroyed. This type of insurance is going to help protect you in a great range of instances and is going to help make sure that your business is protected as well. Going without an insurance policy may save you money each month but in the event of a tragedy, it is going to cost you far more. For those that live in the Auburn or Opelika, AL area, the agents with Elliott & Associates Insurance can help you to find the policy that is right for you.
Home insurance policies are usually referred to as “all-risk” insurance covers. While this is true in most instances, home insurance policies may not insure all risks that may cause loss of property or damage to your home. One of the commonly excluded risks is the earth movement, which excludes earthquakes.
The reason it is referred to as earth movement is that the exclusion is much wider than just earthquakes. Numerous types of moving or shifting earth are usually not covered by your insurance policy. You may be surprised to find out that some of these perils may be very difficult to insure, no matter the amount of premium you are willing to contribute. An earth movement policy is not something required in Alabama. You should, therefore, look for an insurance company such as Elliott & Associates Insurance in Opelika, AL which will take care of every need you may have.
Earth Movement Exclusions
The standard home insurance coverage’s definition of excluded earth movement extends to include shifting, sinking, contracting, or expanding earth. All these exclusions can also be combined with water or not. This implies that if you think of earth movement as seismic activity and earthquakes, you will miss out on some key exclusions that may result in large uninsured damages to your home.
Sinking – When the ground beneath your home settles, this is known as sinking. Poor compaction or erosion can lead to sinking.
Rising – This is the opposite of sinking. When the soil beneath your home rises, this is called rising. While rain or water may result in erosion, then too much water may lead to expansion.
Shifting – Rising and sinking usually covers the vertical movements while shifting covers the lateral movements.
Expanding – This complements rising earth. In fact, it expounds on the possibility of earth expanding.
Contracting – Sinking earth is quite the same as to contracting earth.
For a more comprehensive coverage of your home insurance, you will need to look for an insurance company such as Elliott & Associates Insurance in Opelika, AL that can walk you through the process. Reach out to our agents to learn more about your home insurance policy.
We often hear from the insurance companies that we sell for that other agencies around the Southeast are struggling. Maybe they’ve seen a lull in one type of insurance or another. It always surprises them when we say we’ve been growing steadily. Not fast. Just steady.
We like to pat ourselves on the back about that, but deep down, we know it has much more to do with you, our clients. You put your trust in us that we will be there for you. You are loyal. Heck, we have many clients whose parents AND children have their assets insured with us.
So we just want to take a moment to say “Thank you”. Thank you for having faith in us. We don’t take that lightly. We won’t make promises we can’t keep. We will answer the phone when you call. And most importantly, we will treat you like a human being and not like a policy.