Adding Your Teen to Your Auto Insurance Policy in Ohio

For many parents of teenagers, that sweet 16 party doesn’t feel so sweet. That’s because 16 is the birthday when teens can start driving in Ohio. And that means you have to figure out your teen’s auto insurance situation.

Is it going to cost an arm and a leg? Will teen auto insurance cover enough to keep my kid protected? There are plenty of questions around this time and the experienced team of independent insurance agents at Wallace & Turner have written this guide to provide answers about adding your teen to your auto insurance policy in Ohio.

Read on to learn everything you need to know. And if you’re ready to get your teen insured, reach out to our team.

When Should I Add My Teen to My Auto Insurance Policy?

In Ohio, teens can apply for a driver’s permit when they are 15 years and 6 months old. Is that the age when you need to add them to your auto insurance? Not exactly. That’s because you or another license-holding legal guardian will have to be in the passenger seat at all times until your teen is able to trade that permit in for a full-blown driver’s license, so your car will be insured through your presence in the vehicle. 

When it comes to the timing of adding your teen to your auto policy, the exact age of your teen matters less than their legal driving status. Once your teen gets their full driver’s license and is ready to start driving the family SUV or even a car you’re buying for them, it’s time to start thinking about getting your teen insured.

How Much Does It Cost to Add a Teen Driver to Insurance?

Putting your teenager on your car insurance policy can double your rates. According to CarInsurance.com rate data, your rates will increase by 102% on average when you add your teen.

Wallace & Turner Partner Ben Galbreath recently spoke with CarInsurance.com to explain what parents need to know about adding a teen driver to their auto insurance. 

“Teenage drivers are inexperienced drivers who are less aware of their surroundings and have a tendency to drive too fast and less responsibly, which makes it more likely that they will have a claim,” Ben said. 

In Ohio, the average premium cost for full-coverage auto insurance without teens is $960 per year. But adding teens drives that average up to $1,881 per year, according to data from CarInsurance.com.

Do I Have to Add My Teen to My Auto Insurance in Ohio?

To comply with Ohio’s Financial Responsibility Law, your teen has to be insured if they are going to drive on their own. However, that doesn’t necessarily mean that they have to be insured under your policy. 

Teens can purchase their own separate policies, but most Ohio families end up insuring teens under the parents’ auto policy because the premium is typically much more affordable that way. Even if you want your teen to pay for their own insurance, it might be wise to consider having them pay for their portion of the family premium rather than paying for their own policy outright.

Insurance Considerations for Parents of Teen Drivers

Adding your teen to your auto insurance policy doesn’t have to be a source of stress in your life. If you plan ahead, consider the suggestions below and speak with your insurance agent at Wallace & Turner so you can come out of this with a fully insured teen and a lot less stress than most parents have to go through.

Consider High Liability Limits for Teen Drivers

Due to inexperience, immaturity, distractions or some combination of these factors, most teens are more likely than the average adult to get into a car accident. Even if you have full faith in your teen’s maturity and decision-making skills, all it takes is a momentary lapse in judgment, and your family could face massive financial liability.

That’s why it’s a good idea to take a second look at the liability limits of your auto insurance policy before you add your teen. This might be a great time to consider getting higher liability coverage or even an umbrella policy.

Reduce Teen Insurance Premium Hikes by Adjusting Deductibles

There’s no question: Car insurance premiums go up when you add a teen to a policy. It’s a difficult fact for many families to face, but you can adjust parts of your policy to mitigate the impact of the increased monthly costs.

More specifically, you may be able to get a higher deductible that will lead to reduced monthly premiums. Keep in mind, of course, that this means you will be on the hook to pay more in the event of an accident. But for some families, the benefit of paying less each month outweighs the risk a higher deductible may pose. Your insurance agent can help you decide which approach is best for your family. 

Take Advantage of Teen Driver Discounts

Many insurers offer discounts to help families add teen drivers to their policies without breaking the bank. For example, some policies offer discounts for good grades. Others will discount your monthly premiums if your child takes a driver’s education or defensive driving course. Ask your insurance agent to help you find the best Ohio teen driver discounts.

Look Into Usage-Based Insurance for Your Teen

Usage-based insurance (UBI) is a relatively new auto insurance policy model that can save drivers money if they drive safely. The amount drivers can save varies widely, but the listed amounts tend to fall somewhere between 10% and 15%. 

How does UBI work? Your insurer measures data points that suggest how safe your driving habits are, such as collisions, speeds, mileage and similar factors, using your car’s own metrics systems or a device that rides along with you. Based on those measurements, the insurer offers a discount on your premiums.

In other words, if your teen is a safe driver, UBI may be a great way to reduce the cost of adding your teen to your auto policy. Your insurance agent at Wallace & Turner can help you find the right UBI policy for your family.

Seek Out Safe Cars

To reduce premium costs, insurance agent Ben Galbreath recommended purchasing an older model vehicle for your teen to drive. 

“A sedan is usually best to lower your costs versus a sports car or SUV,” Ben said in an interview with CarInsurance.com. “I recommend covering the teen for liability only until they are about 20 years old, which is the age when coverage rates tend to come down.”

When deciding which household car the teen should be attached to, Ben commented: “Most insurance companies today are moving away from insurance rating based on the car, but for those that still do, the teen should be assigned to the car with the lowest value.”

Promote the Best Teen Auto Insurance: Safe Driving

The best way to prevent injuries, financial setbacks and legal liability is avoiding accidents in the first place. And the best way to do that is to teach your teen to drive safely. Of course, insurance is still absolutely necessary and required under Ohio law, but it goes without saying, the more accidents you can avoid, the better.

Before Your Teen Hits the Road, Call Wallace & Turner

Adding your teen to your auto insurance policy in Ohio doesn’t have to be painful. There are plenty of ways to reduce the impact of increased premiums while still making sure your teen is covered and safe.

We hope this article has provided some helpful tips for adding your teen to your auto insurance, but we saved the best tip for last: If you have questions about purchasing a teen car insurance policy in Springfield or Urbana, Ohio, contact Wallace & Turner online, by phone at 937-324-8492 or via email at info@wtins.com.

Teen Driver Insurance FAQs

Have questions about adding a teen driver to your auto insurance policy in Ohio? Below are answers to some of the most common questions parents ask, including when to add your teen to your policy, available discounts and how insurance rates change as young drivers gain experience.

• Do I need to add my teen to my insurance with a learner's permit?

  Yes, at a minimum, you should notify your insurance company as soon as your teen receives their learner's permit. In Ohio, your teen must be covered by auto insurance whenever they are driving, even with a permit. Some insurance companies automatically extend coverage to permit drivers under a parent's policy, while others require you to formally add them. Requirements vary by carrier, so it's important to contact your insurance agent to confirm your teen is properly covered before they get behind the wheel.

• Is it cheaper to add my teen to my policy or buy a separate policy?

  For most families, it's significantly less expensive to add a teen driver to a parent's existing auto insurance policy than to purchase a separate policy. Parents typically benefit from multi-vehicle discounts, multi-policy discounts, and an established insurance history that helps lower premiums. A separate policy is generally only worth exploring in unusual situations, such as when the parent already has a high-risk driving record or very expensive insurance.

• What discounts are available for teen drivers in Ohio?

  Many insurers offer discounts that can help reduce the cost of adding a teen driver, including:

  • Good student discount for maintaining at least a B average (many Ohio insurers offer this, and Ohio requires insurers to make a good student discount available to eligible drivers under 25).

  • Driver training discount for completing an approved driver education course.

  • Telematics or safe driving programs that reward good driving habits.

  • Distant student discount for students attending school away from home without a vehicle.

  • Multi-car and multi-policy discounts when the teen is added to a parent's existing policy.

• When do insurance rates go down for young drivers?

  Auto insurance rates generally begin to decrease as young drivers gain experience and maintain a clean driving record. Many drivers see lower premiums around age 21, with more significant reductions by age 25. Continuing to qualify for good student discounts, avoiding accidents and tickets, and maintaining continuous insurance coverage can also help keep premiums lower over time.

Ben Galbreath

Partner & Producer

Ben Galbreath is an independent insurance agent providing clients with coverage in personal, commercial, life and supplemental benefits insurance. See full bio.

What You Need to Know About Rideshare Insurance – Ben Galbreath Interviewed by Insurance.com

Ben Galbreath

There are millions of Uber, Lyft and DoorDash drivers across the U.S. who use the service to generate full-time or part-time income, and drivers are essentially operating their own small business. This means they need insurance to protect their livelihood and reduce their financial liability. If you're a rideshare or food delivery driver, you should know that your standard personal auto policy only covers your vehicle’s personal use. If you're driving your car for business, you'll need a commercial policy, or some carriers offer a special endorsement to add to a personal auto policy that will close that gap. 

"Traditional car insurance is not set up for the liability and medical payments exposure, and the liability a driver exposes himself or herself to while getting paid to transport individuals," commented producer Ben Galbreath.

Galbreath says rideshare drivers should consider their personal assets, such as home, car, bank accounts and investments when thinking about coverage. 

"Auto claims have high bodily injury payouts, so medical bills and liability payment could bankrupt individuals if the right type of coverage isn't purchased," he adds.

Galbreath says if you're looking for coverage, you should take the time to compare policies and that you shouldn't base your decision on price alone.

"My advice would be to look into coverage options and pay for what you need to be protected based on your personal liability," he says. "The cost of insurance would not come close to the potential loss a driver could risk personally or professionally." 

Continue reading the full article.

Questions about Uber, rideshare or auto insurance? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.

Automakers Enter Insurance and Complicate the Market – Ben Galbreath Quoted in Insurify & Insurance News Net

Ben Galbreath

Hyundai recently announced plans to launch its own branded insurance carrier, joining companies like Tesla, Honda and General Motors in entering the car insurance business.

The news follows a $9 million multistate settlement Hyundai reached with attorneys general over allegations that Hyundai and Kia sold millions of vehicles without industry-standard anti-theft devices – an issue that led to insurer lawsuits and coverage restrictions after numerous break-ins and thefts.

While automakers claim they designed the move into insurance to improve customer convenience and lower insurance costs, Partner Ben Galbreath told Insurify & Insurance News Net that this adds another layer of complexity for insureds.

"It's going to trigger a significant shift in the personal auto insurance market, and has the potential to complicate things," said Ben. "As more households end up with multiple vehicles insured through different carriers, policies will become more fragmented and complex. That creates challenges not just for consumers, but for traditional carriers and agencies, particularly when it comes to offering umbrella coverage."

Ben explained that umbrella policies typically require underlying auto coverage to meet specific criteria, and automaker-issued policies may not always qualify.

Reinsurers – companies that provide insurance for other insurance companies – may also turn a critical eye toward the trend, he added.

"Reinsurance companies closely evaluate many factors of primary insurers before allowing umbrella coverage to sit over them," Ben said. "As automakers enter the space, reinsurers will need to assess a range of new risk factors, which could further complicate how and when umbrella coverage is offered across different providers."

Read the Insurify article here.

Read the Insurance News Net article here.

‘Tis the Season for Risk: Winter Hazards That Could Cost Your Business

From holiday decorating and parties to frozen pipes and slick sidewalks, the winter season can create risks that lead to costly claims, disruptions or liability exposure for business owners. The good news: with proper planning, you can significantly reduce wintertime hazards and keep operations running safely and smoothly.

Below is your winter risk management guide, designed to help you safeguard your employees, customers, property and operations.

Holiday Decorating: Festive, Fun—and Potentially Risky

Holiday décor can boost morale and enhance the seasonal atmosphere, but it can also create fire, electrical and safety hazards if not handled correctly.

Common Office Decorating Hazards

• Overloaded outlets and power strips

• Flammable décor near heat sources

• Tripping hazards from cords and lighting

• Blocked emergency exits or fire sprinklers

• Dry, combustible holiday greenery

Holiday Decor Tips for Businesses

• Only use UL-certified commercial-grade lights.

• Inspect all cords for damage before installation.

• Avoid connecting multiple power strips or extension cords.

• Keep all décor at least three feet from heating vents or radiators.

• Do not block sprinklers, smoke detectors, or exit routes.

• Assign someone to oversee décor safety during the season.

A festive workplace shouldn’t create added risk. A few extra safety steps ensure your team enjoys the season without incident.

Holiday Parties: Reduce Liability While Celebrating Responsibly

Whether on-site or off-site, company holiday parties can expose employers to various liability risks—from alcohol-related incidents to workers’ comp claims.

Top Liability Risks at Company Parties

• Over consumption of alcohol by employees.

• Harassment or inappropriate behavior.

• Slips and falls at event venues.

• Employer liability for accidents occurring after the event.

• Increased exposure if attendance is perceived as mandatory.

Holiday Party Risk Management Strategies

• If serving alcohol, hire trained bartenders and offer plenty of food and non-alcoholic options.

• Provide transportation alternatives (rideshare credits, shuttle services).

• Reinforce anti-harassment and conduct policies beforehand.

• Clearly communicate that attendance is voluntary.

• Hold events earlier in the day when excessive drinking is less likely.

• Select reputable venues with appropriate liability coverage.

A well-planned party protects both employees and the business while still delivering a memorable celebration.

Winter Weather and Property Protection

Frozen pipes, roof leaks and structural strain from storms are some of the most common winter property claims. Proactive maintenance can save thousands in cleanup, repairs and business interruption.

Frozen Pipes

When temperatures drop, your building’s pipes are at risk.

Prevention Measures

• Insulate exposed pipes.

• Set thermostats to at least 55°F at all times—even overnight or on weekends.

• Allow faucets to drip during extreme cold.

• Install smart leak-detection or temperature sensors.

• Make sure fire sprinkler systems are properly winterized.

Roof & Gutter Maintenance

Snow, ice dams and freezing rain can cause serious roof damage.

Prevention Measures

• Schedule a pre-winter roof inspection.

• Clear gutters and drainage systems regularly.

• Remove heavy snow buildup safely (using trained professionals).

• Inspect seals around skylights, vents and HVAC units.

HVAC Winterization

A failed heating system can shut down operations and lead to pipe issues.

Steps to Prepare

• Change filters before cold weather hits.

• Have your system inspected by a licensed technician.

• Keep backup heating sources available.

Proactive maintenance is far less expensive than repairing winter weather damage.

Slip-and-Fall Hazards: Wet and Icy Walkways

Slip-and-fall injuries are among the most frequent wintertime claims and can cost businesses tens of thousands of dollars. Even one incident involving a customer, vendor or employee can lead to significant liability exposure.

Key Risks

• Icy parking lots

• Wet lobbies and entryways

• Snow tracked onto floors

• Poor lighting during shorter daylight hours

Risk-Management Tips

• Contract with a reputable snow and ice removal service, and document all services performed.

• Place heavy-duty floor mats at every entrance and replace them regularly when saturated.

• Use clear signage for slippery areas and maintain regular mop-and-dry rotations in high-traffic areas.

• Use slip-resistant floor coatings in areas prone to moisture.

• Improve exterior lighting around walkways, parking lots and entry paths.

• Train employees to report or address hazards immediately.

Commercial Auto and Fleet Safety

If your business relies on driving—whether for deliveries, service calls or employee travel—winter weather increases accident risk.

Winter Vehicle Safety Steps

•  Inspect and service all fleet vehicles before the season.

• Check tire tread, battery strength, wipers and antifreeze levels.

• Equip vehicles with winter kits (blankets, flashlights, ice scrapers).

• Train employees on safe winter driving techniques.

• Implement a weather travel policy to prevent unnecessary risks.

• Review your commercial auto insurance limits and coverages.

Employee Safety and Emergency Preparedness

A safe workforce is essential for business continuity during the winter.

Action Steps for Employers

• Allow remote work when weather creates dangerous commuting conditions.

• Update emergency plans for winter scenarios, including power outages.

• Create a communication plan for office closures or delays.

• Conduct safety refreshers for cold-weather hazards, equipment use and emergency procedures.

• Stock emergency supplies: blankets, flashlights, batteries, first-aid kits.

Supply Chain and Operational Continuity

Winter storms can trigger unexpected delays, closures, supply shortages or shipping disruptions—all of which can impact business operations.

Continuity Planning Tips

• Identify critical suppliers and confirm their winter weather contingency plans.

• Carry surplus inventory of essential materials or products.

• Create backup plans for shipping and logistics.

• Confirm your business interruption coverage is up to date.

• Ensure remote systems are secure and accessible in case employees must work off-site.

Operational preparedness ensures your business can continue functioning despite seasonal uncertainties.

Insurance Coverage Review: Close Gaps Before Something Goes Wrong

Winter is an excellent time to review your insurance policies to confirm you’re properly protected heading into the new year.

Coverage Areas to Review

• Commercial Property: Fire, water damage, snow/ice damage

• General Liability: Slip-and-fall incidents, holiday event exposure

• Employment Practices Liability (EPLI): Misconduct at company events

• Workers’ Compensation: Winter-related injuries

• Commercial Auto: Winter driving risks

• Cyber Insurance: Increased online activity and related scams

• Business Interruption: Weather-related shutdowns

Winter Doesn’t Have to Mean Increased Risk

With the right preparation and proactive risk management strategies, businesses can stay protected all winter long. Addressing holiday safety, weather-related hazards and the right insurance coverage will help you reduce liabilities and avoid preventable disruptions.

Questions about business insurance? Contact the Wallace & Turner team here.

Don’t Let Thanksgiving Turn Into a Cornucopia of Trouble

Did I put too much salt in the gravy? Will grandma ask me why I’m still single? Will the Bengals beat the Ravens?

These are valid Thanksgiving Day concerns and hopefully the biggest worries you’ll have this holiday. Unfortunately, Thanksgiving can bring up a cornucopia of other troubles, from cooking accidents and injuries, to home and driving safety issues. Below, we’ve outlined a handful of steps you can take to make sure this is one of your most memorable Thanksgivings – for all of the right reasons. 

PREVENTING A FIRE

According to the National Fire Protection Association (NFPA), Thanksgiving is the leading day of the year for home fires involving cooking equipment. From 2017–2021, cooking was the leading cause of reported home fires and home fire injuries, and the second leading cause of home fire deaths. These stats are a good reminder to use caution when preparing your Thanksgiving Day feast.

Deep Frying a Turkey

You’re probably not alone if your top question now is, “Can I still prepare that tasty deep-fried turkey?” While it’s not an absolute “no,” you should be aware that turkey fryers can lead to severe burns or other injuries, and even property damage, even if you’re extremely careful. Deep-frying a turkey requires a substantial amount of hot oil which can splash, spill or combust.  

Butterball offers helpful cooking and safety tips whether you’re frying indoors or outdoors. As with any cooking, don’t leave your deep fryer unattended and keep children away from the frying area. Alternatively, consider contacting your local grocery store, a specialty food retailer or restaurants that sell deep-fried turkeys so you don’t have to encounter any risk. 

Kitchen Safety

With family and friends going in and out of the house, TV and music volume, and possibly alcohol, it’s easy to be distracted while you’re cooking. Below are a few quick tips for keeping you and your home safe from accidents.

• It’s tempting to try and accomplish other things while food is cooking, especially a turkey that takes hours, but you should check on food frequently and never leave your home while your oven or other cooking appliances are on.

• Make sure you have timers set so food doesn’t burn and potentially set off smoke alarms or worse, cause a fire. Keep the timer next to you so you don’t miss it over loud conversations or other noise.

• Keep your prep space clean and organized. Oven mitts, paper towels and dish towels, food wrappers and other easily combustible items should be kept at least three feet away from heat and flames.

• Don’t wear billowy clothing that could come in contact with heat and flames.

• Confirm that smoke alarms have new batteries and are properly working before you being cooking.

• Avoid cooking if you’re drinking heavily.

It’s always a good idea to check your homeowners or renters insurance coverage if the worst does happen and you experience a fire or related loss.  

AVOIDING CAR ACCIDENTS

Drinking and Driving 

This should be a no-brainer but don’t drink and drive! According to the Centers for Disease Control and Prevention, drunk driving still causes 30% of all traffic-related deaths in the U.S. If you’re planning on drinking on Thanksgiving (or any day), arrange for a designated driver or call a cab, Uber or another service to get you safely from place to place.

Be mindful of who you hand your keys over to as well. Even if you’re watching your alcohol intake, your family member offering to run up to the grocery store for the missing ingredient may not be as sober as you think. Generally speaking, it’s always a good idea to limit loaning out your car. You may be on the hook as the insured if they get in an accident.

Review Your Auto Insurance Policy Before Hitting the Road

It’s widely reported that the week of Thanksgiving is the busiest travel period of the year, with millions of Americans traveling . This means the likelihood of getting in a car crash increases exponentially. While comprehensive car insurance coverage can’t prevent an accident, it can cover costs for vehicle damage and injuries. If you’re renting a car, determine what your policy will cover or not, and consider rental car insurance if necessary.

While you can’t predict other drivers’ behavior, you can take a few steps to safeguard yourself.

• Give yourself extra time. Weather is often bad this time of year and with additional cars on the road, this is a Thanksgiving recipe for disaster if you’re rushing or stressed to make up for time in snow, rain and ice.

• Secure food and other items. The last thing you want is additional hazards distracting you while driving. Prevent food from sliding around and ensure everything has tight lids.

• Protect your pets. If your furry friends will be traveling with you, use a strapped in harness or other safety belt to keep them in one place. If you have to brake suddenly, this can avoid possible injuries.

• Pack a roadside emergency kit. This is a good idea year-round, but especially in inclement weather and times when AAA or other roadside services may take longer to get to you.

PROTECTING YOUR HOME WHILE YOU’RE AWAY

Unfortunately, the holiday season can see an uptick in home robberies. Thieves know homes are often empty for days at a time and take advantage of this. Here are a few steps to keep your home safe while you’re away:

• Keep your travel plans off social media. This can be a tough one since you want to share photos and good times with friends and family, but consider waiting until you’re back in town so the wrong person doesn’t become aware of your absence.

• Put your lights on a timer and use motion detectors for outdoor lights.

• Get a safe for small valuables such as jewelry and family heirlooms.

• Ask a neighbor or friend to keep an eye on your home and pick up any mail so it doesn’t pile up and tip off burglars.

• Arrange for yard service to clear away snow and ice while you’re away so it appears someone is home.

• As an added precaution, invest in an outdoor security camera that you can monitor from anywhere. 

Homeowners insurance such as dwelling coverage and personal property coverage may help recover costs in the instance of a break-in. Hopefully, you’ll never be the victim of a home burglary, but you should be aware of what your homeowners policy covers and be sure to document your home inventory in advance to expedite the claims process.

Questions? Contact Wallace & Turner at (937) 324-8492 or info@wtins.com.

Is Your Insurance Policy Still Working for You? Why You Should Reevaluate Coverage Today

For most people, insurance is one of those things that gets filed away and forgotten—until something goes wrong. But Insurance Awareness Day, observed each year in June, is a valuable reminder that coverage shouldn't be a “set it and forget it” part of life. Whether you're an individual safeguarding your home and health, or a business owner managing risk and liability, now is the time to ask: Do I really have the coverage I need?

From rising property values to increasing cyber threats, the world continues to evolve, and so should your insurance. Here’s what you should be reviewing (at a minimum) with your independent insurance agent to make sure you’re protected, informed and financially secure.

Homeowners and Renters Insurance: Are You Covered for What It Would Cost Today?

If you haven’t looked at your homeowners or renters policy in a few years, you might be underinsured. Many people assume their coverage will take care of everything if disaster strikes, but that’s not always the case, especially in today’s economy.

Why review now?

• Rising replacement costs: The price of building materials and labor has increased significantly. If your home were damaged or destroyed, would your policy cover what it costs to rebuild today?

• Personal property gaps: Think about your electronics, appliances, furniture or new purchases like exercise equipment or luxury handbags. Are they included? Are the limits still realistic?

• Natural disaster risks: Flooding and wildfires are on the rise in areas not historically known for them. Standard policies don’t cover flood damage, and wildfire exclusions are increasing in some states.

What to ask your agent:

• Do I have replacement cost coverage or actual cash value?

• Are my valuables (jewelry, art, electronics) properly covered?

• Should I consider additional endorsements or umbrella coverage?

Auto Insurance: Beyond the Basics

If you've recently purchased a newer or more expensive vehicle, you’ll want to make sure you're fully protected.

Why review now?

• Underinsured motorists: Accidents involving uninsured or underinsured drivers are more common than you might think.

• Rising repair costs: Advanced safety and tech features mean even minor fender-benders can result in expensive repairs.

• Lifestyle changes: If you’re commuting less, bundling policies or adding teen drivers to your household, your rates and needs could shift.

What to ask your agent:

• Is my liability limit high enough to protect my assets?

• Should I have comprehensive and collision coverage?

• Do I need gap insurance for a new vehicle?

• How does my deductible affect my premium?

Business Insurance: What Growing Companies Often Miss

For business owners, having the right insurance can mean the difference between survival and bankruptcy after an unexpected event. Yet many small and midsize businesses are underinsured or unaware of new risks that require coverage.

Why review now?

• Cyber threats are growing: Every size of business is at risk. Even small businesses are frequent targets of data breaches and phishing scams.

• Remote work shifts liability: Having employees work from home can change your exposure.

• Business interruption insurance: COVID-19 revealed how many companies weren’t clear on their policies.

What to ask your agent:

• Do I have the right level of general liability and professional liability coverage?

• Should I consider cyber liability or employment practices liability insurance?

• What’s excluded from my current policies?

• How would my business income be protected during a disruption?

Umbrella Policies: Extra Protection for Life’s “What Ifs”

An umbrella policy provides an extra layer of liability coverage beyond what your homeowners or business policy typically includes. It’s relatively affordable and can be crucial if you’re sued for a large amount—especially in today’s litigious environment.

Why review now?

• Asset protection: If you have savings, property or investments, you need to protect them from large liability claims.

• Peace of mind: Accidents happen—even one social media post or dog bite could lead to a lawsuit.

What to ask your agent:

• At what net worth level should I consider umbrella coverage?

• How does it coordinate with my existing policies?

• What scenarios are most commonly covered?

Life Insurance: A Future-Focused Conversation

Life insurance is not just for people with dependents or those approaching retirement. If you have student loans with a co-signer, a mortgage or anyone who depends on your income, it’s worth considering. And if you already have a policy, it’s important to revisit the details as your life evolves.

Why review now?

• Milestones matter: Marriage, children, homeownership and career changes should trigger a review.

• Employer-provided insurance isn’t always enough: Many people rely on workplace policies that may not be portable or adequate.

• Policy types vary: Term vs. whole life, cash value options and riders can significantly change what you’re getting—and paying.

What to ask your agent:

• How much coverage do I really need?

• What are the pros and cons of term vs. permanent insurance?

• Are my beneficiaries up to date?

• Can I convert or adjust my existing policy?

Contact Wallace & Turner’s Life & Health Team.

Awareness and Knowledge Leads to Better Protection

Insurance Awareness Day isn’t just about checking a box—it’s about taking control of your financial well-being. An annual review with your independent agent can help you avoid surprises, close dangerous gaps and even find savings through smarter bundling or updated risk assessments.

Life changes. The economy shifts. Risks evolve. Your coverage should too.

Contact Wallace & Turner today to discuss your existing coverage, or if we can provide a complimentary quote for new coverage. 937-324-8492 or here.

Do You Need Insurance With a Learner's Permit? U.S. News & World Report Interviews Deece Catanzaro

Deece Catanzaro - Producer

Even with a learner’s permit, you are required to have car insurance in most states. Typically, a learner's permit driver can be added to a household member's existing policy, but they may need to purchase their own policy. In an interview with U.S. News & World Report, Producer Deece Catanzaro explained the factors that determine how much car insurance a permit driver needs and coverage costs.

A car insurance policy must meet state minimum liability insurance requirements; however, a permit driver may consider purchasing more than the minimum required. 

“Given the rising costs of medical care and emergency services, it’s advisable to carry higher [than the minimum] limits,” Deece commented. “For example, a care flight can cost around $30,000, which can quickly exceed a $25,000 per-person limit, leaving additional expenses to be paid out of pocket – potentially leading to financial strain or bankruptcy for many individuals.”

The exact cost of coverage for a driver with a learner’s permit will depend on the driver’s age, permanent residence, type of car and more.  

“There are a lot of factors that go into setting the rate,” Catanzaro said. “However, if all other things are equal, if a person with the same driving record and insurance score from the same city elects to have the same policy limits, the permit driver will likely pay a higher premium than the licensed driver."

Read the full article here.

Questions about adding a permit driver to your policy or obtaining separate coverage? Contact Wallace & Turner at 937-324-8492 or text us 937-918-7632.

Wallace & Turner Launches New Text Line for Policyholders: 937-918-7632

We are excited to announce the launch of our new dedicated text line – 937-918-7632 – making it easier than ever for you to reach us for all your insurance needs!

Whether you have questions, need to make policy changes, send photos for claims or any other general correspondence, you can now text us directly.

This text line is designed to provide a seamless and efficient way for you to connect with us 24/7. We look forward to serving you with this added convenience!

How Does Your Credit Score Affect Your Car Insurance Rate? Fox Money Interviews Otto Larson

Otto Larson, Vice President & Partner

Insurers in certain states use a credit-based insurance score (CBIS) to approve or deny auto insurance policy applications, renew existing policies and set rates for customers. In an interview with Fox Business – Money, Partner Otto Larson explained how credit-based insurance scores are used to set rates and why your score is not the only factor that impacts how much you pay.  

“The idea is that a person with better credit is essentially more financially responsible, and that may be correlated to safer driving and fewer insurance claims,” said Otto.

While credit-based insurance scores may be weighed heavily by some companies, they may be less of a factor elsewhere.

“Each company has its own pricing model,” Otto added. “Credit is not the sole factor. There are more variables that go into car insurance pricing.”

When insurance companies review credit, this is considered a “soft” inquiry. Otto noted that people shouldn’t have to worry about that hurting their score.

Read the full story here.

Questions about car insurance coverage? Contact Wallace & Turner at 937-324-8492 or info@WTins.com

What is Actual Cash Value When Talking About Car Insurance? Otto Larson Interviewed by Fox Money

Otto Larson - Vice President & Partner

A vehicle’s actual cash value (ACV) represents how much it is worth given its current age and condition in today’s market, including depreciation. If you’re in an accident and your car is totaled, your insurer will only reimburse the ACV of your vehicle, not the original price you paid for it.

In an interview with Fox Money, Partner Otto Larson explained the difference between a car’s ACV and its replacement cost; how the ACV is calculated in car insurance and if you can negotiate an ACV settlement with your insurer.

“Most vehicle insurance policies are written on an actual cash value basis and there are several factors that car insurance companies use to calculate ACV,” Otto said. “Some of these may include the make and model, age, mileage, condition, interior and exterior features, and location.”

If your car is totaled, the vehicle’s replacement value is the amount you would need to buy a new car of the same make and model and with similar features. The actual cash value is often significantly less. If you don’t think the ACV assigned by your insurer is correct, you can negotiate that amount as part of the loss adjustment process.

“The customer may have additional details about the vehicle that the insurer is unaware of,” Otto commented. “For instance, you may have added aftermarket parts that increase the value.”

Read the full story here.

Questions about car insurance coverage? Contact Wallace & Turner at 937-324-8492 or info@WTins.com

How to Choose a Car Insurance Company and Get the Best Coverage - MoneyGeek Interviews Myles Trempe

Producer Myles Trempe

In an interview with MoneyGeek, Producer Myles Trempe discussed key things to consider when choosing a car insurance company; how individuals can assess how much coverage they’ll need; and strategies to get the best possible quote.

“When selecting a car insurance company, of course price and coverage are essential, but you also want to work with someone reputable who can actually help you with a claim,” Myles commented. “Factors such as financial strength of the company, customer experience and service, and expertise should be a consideration.”

He added that ideally, you should talk with an insurance agent who can explain policy language, coverage options and costs, noting agents can also identify discounts you may not be aware of. “Because independent insurance agents work with a variety of companies, they can find a policy that fits your needs and budget,” he said.

Read the full interview here.

Questions about purchasing car insurance coverage? Contact us at 937-324-8492 or info@WTins.com.

Carinsurance.com Interviews Deece Catanzaro on Choosing a Deductible Amount for Car Insurance

Producer Deece Catanzaro

A deductible is the amount you’re responsible for before insurance covers the rest in the instance of a claim. In an interview with Carinsurance.com, Producer Deece Catanzaro explained how a car insurance deductible works, factors to consider when choosing your deductible amount and how much you can save on auto insurance by increasing your deductible.

“Deductibles help distribute risk between the insured individual and the insurance provider and contribute to keeping insurance premiums more affordable,” Deece said. “For instance, let’s say your car sustains damage in an accident and you seek repairs. The repair cost is quoted at $1,500. If you have a $500 deductible in place, you would pay the first $500 yourself, and then the insurance company would cover the remaining $1,000.”

When deciding on a deductible amount, Deece recommended considering the value of your vehicle: “It’s imprudent to have a high deductible – such as $1,000 – on a car valued at only $3,000, as you would end up paying out a significant portion of the car’s worth in the event of a loss.”

He added that typically, raising your deductible from $500 to $1,000 can result in an average savings of approximately $188 per year on comprehensive and collision coverage collectively.

View the full story here.

Questions about car insurance and deductibles? Contact us at 937-324-8492.

Factors That Influence the Cost of Auto Insurance - Otto Larson Interviewed by MoneyGeek

Partner Otto Larson

Car insurance rates vary based on many factors such as age, driving record, credit score, your state and vehicle type. Each insurer also weighs these factors differently when calculating rates. In an interview with MoneyGeek, Partner Otto Larson explained why costs can change based on what state you live in and why your insurance rates may be higher than the average.

“Insurance laws vary from state to state, and insurance companies will file their rates based on their loss experience in each state compared to their overall book of business,” Otto commented. “Factors such as population, geography, age and usage will determine the base rates filed for each carrier and can vary greatly from state to state.”

Otto said that the reason your rates may be higher is because the carrier you are insured with could have an overall population of customers who have had less than desirable loss experience. “Individual factors such as speeding tickets, accidents, age of drivers in the household, credit score, vehicle cost and performance can also affect the pricing of insurance coverage,” he added.

Read the full story here.

Carinsurance.com Interviews Myles Trempe on Advantages of Getting Car Insurance Through an Independent Agent

Producer Myles Trempe

If you’re driving a car, you need auto insurance, so it makes sense that you want to get the best price for your coverage. But you may question whether it’s cheaper to purchase a policy online or through an independent agent. In an interview with Carinsurance.com, Producer Myles Trempe explained the pros of working with an agent.

“An independent insurance agent works with multiple carriers, so they can compare pricing and find the best cost and coverage options for your needs,” Myles commented.

When asked if it’s cheaper to purchase insurance directly from an insurance company, Myles said: “It doesn’t necessarily cost more or less to get car insurance through an agent, online, or directly from an insurance company. The cost will vary from person to person based on a range of factors like age, type of car, credit-based insurance score and past claims.”

Read the full story here.

What Happens to the Lien If a Car is Totaled? - Deece Catanzaro Interviewed by Carinsurance.com

Producer Deece Catanzaro

When you finance a car, a lien is established, which serves as a claim to your vehicle and is used as collateral if payments are not made. Generally, when you finance a car, you make monthly payments to the entity holding the lien. This lien safeguards the lender, empowering them to reclaim the vehicle if you default on payments. But what happens to the lien if a car is totaled and insurance has to step in?

In an interview with Carinsurance.com, Producer Deece Catanzaro discussed the process and timing for an insurer to pay off the lien on a totaled car.

“It typically takes about 30 days for the insurance company to pay out the claim and pay off the lien on a totaled car. If the insurance does not cover the balance of the lien, the insurance company will pay off to the amount of insurance coverage listed in your policy,” he said.

Read the full story here.

Myles Trempe Discusses Bundling Home and Auto Insurance with MoneyGeek

Myles Trempe - Producer

In an interview with MoneyGeek, Producer Myles Trempe explained whether it’s always worth bundling home and auto insurance policies with the same company, and if there are any downsides to bundling.

“Most companies will offer a discount for bundling; however, it’s possible you could purchase separate policies and pay less money,” Myles said. “It’s worth pricing both options and seeing which is the least amount (now and over time), which an independent insurance agent can help with.

Read the full article here.

Questions about bundling your home and auto insurance? Contact us at 937-324-8492 or online here.

Steps to Get Affordable Auto Insurance - Myles Trempe Interviewed by MoneyGeek

Myles Trempe - Prdoucer

Drivers often seek out low-cost car insurance, but they could be exposing themselves to greater financial and legal risks. In an interview with MoneyGeek, Producer Myles Trempe explained why drivers should focus on coverage for their particular needs versus the cheapest option as well as ways to lower car insurance costs.

“If drivers don’t get the right type of coverage, they could end up paying more out of pocket in the event of an accident or loss,” Myles said. “And drivers should always work with a reputable, highly-rated company.”

He suggested the following strategies for drivers to save on their auto insurance:

• Bundling auto with their homeowners or renters insurance. Most insurers will offer a discount for bundling.

• Increasing their deductible will bring down their premium.

• Eliminating coverage they don’t need. For example, if your car is old, you might not need collision coverage.

• Ensuring they have a good credit score. A credit score is one factor in how insurers set rates.

• Avoiding speeding and other traffic citations that could increase rates.

• Working with an independent insurance agent who can “shop around” for you to find the best rate while ensuring you have the coverage you need.

Read the MoneyGeek article here.

Questions about car insurance coverage? Contact Wallace & Turner at 937-324-8492 or online here.

Ohio Law Enforcement Begins Issuing Tickets for Distracted Driving Violations on October 5

Beginning October 5, 2023, Ohio law enforcement will begin issuing tickets for distracted driving violations, which includes using or holding a cell phone or electronic device in your hand, lap or other parts of the body while driving on Ohio roads.

Drivers over 18 years old can make or receive calls via hands-free devices, including:

• Speakerphone

• Earpiece

• Wireless headset

• Electronic watch

• Connecting phone to vehicle

Drivers over 18 can legally make or receive phone calls using “hands-free” technology such as Bluetooth or integrated systems within the vehicle.

In most cases, if officers see more than a single touch or swipe, they can pull you over. In general, the following are off-limits while driving:

• Dialing a phone number

• Sending a text message (voice to text is legal using a hands-free method)

• Updating or browsing social media

• Video calls or FaceTime

• Browsing the internet

• Watching videos (GPS or navigational displays are allowed)

• Playing games

• Recording or streaming video

There are some exceptions to the above. Learn more here.

Remember, drivers under the age of 18 are still restricted from using their devices in any way, including hands-free features. 

INSURANCE CONSIDERATIONS

For each offense, you will receive points on your license and a fine. This can impact your car insurance rates. And remember, this new law applies to all drivers, anytime, anywhere – including when you’re driving on company business or using a company phone.

Wallace & Turner cares about your safety and that of your family. Be smart and pull over if you need to use your phone or safely use “hands-free” technology.

How Can I Save Money on Car Insurance? – Ben Galbreath Offers Guidance for Drivers in NerdWallet Interview

Ben Galbreath - Producer

Shopping around for auto insurance can help you save, but how often should you compare insurance quotes to ensure you’re getting the best deal for your coverage?

In an interview with NerdWallet, Producer Ben Galbreath commented: I recommend to my clients that I shop for them every two to four years, depending on how the market looks.” 

While increasing your deductible can bring down your insurance premium, it can cost more in the end if you happen to file a claim.

Ben explained that raising deductibles can be cost-effective for some, but suggested having a deductible you’d be comfortable paying and ensuring the lower premium makes up for the higher potential out-of-pocket costs. “How many years are we going to gamble with saving that?” he added.

Read the full story here.

Questions about car insurance coverage? Contact Wallace & Turner at 937-324-8492 or online here.

How does car insurance differ from other types of coverage and why is it so important for drivers? P.J. Miller Discusses in Interview with MoneyGeek

P.J. Miller - Vice President

Auto insurance is important because it protects you in the instance of an accident or loss (fire, theft, etc.) and most people are not in a position to come out of pocket to pay for the replacement of a totaled car or another driver’s medical bills. Drivers can rely on their insurance to cover some or all of these costs.

In an interview with MoneyGeek, Vice President P.J. Miller discussed how car insurance differs from other types of coverage and why it's so important for drivers.

“While most forms of insurance coverage are optional, car insurance is required in almost all states to register and drive a car. It’s also typically required if you lease or finance a car,” P.J. said. “One major difference between car insurance and many other types of insurance coverage is that it’s legally required in most states to operate a vehicle. For example, many states don’t require you to carry boat insurance to operate a boat. While I don’t recommend this, technically, it’s legal.”

Read the full MoneyGeek article here.

Questions about car insurance coverage? Contact Wallace & Turner at 937-324-8492 or online here.