Get Ready for National Small Business Week!

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Storefronts side by side for National Small Business Week|

We wanted to let you know that National Small Business Week is May 2-8! This is a great opportunity for you and your family to help support local small businesses.

During this week, we encourage you and your family to shop local as much as you can. Your support helps to keep small businesses open!

Check out these tips and infographic for ways you can help support local businesses in your area:

Be Social

You can support small businesses on social media by doing the following:

  • Like your favorite small businesses on social media
  • Tag small businesses in your posts, especially if you decided to stop by
  • Leave positive reviews on their social media pages and on review sites
  • Recommend small businesses on social media

Shop Locally

One of the best ways you can support small businesses is by shopping with their business. You can start by:

  • Support small businesses by shopping locally
  • Check out online local business websites if you’re interested in shopping online
  • If you’re in the mood for food, choose a local restaurant and order delivery or pickup
  • Don’t be afraid to tip generously! Whenever you can, support small businesses with a generous tip
  • Purchase gift cards from small businesses and give them to friends and family to help them support local businesses too

Be Supportive

Your support goes a long way! Here are ways you can be supportive:

  • Be polite whenever you are in a local small business. Kindness goes a long way!
  • Tell small business owners how much you care and value their service. They will greatly appreciate it!
  • Ask local small businesses if they need anything or if there is anything you can do to help support their business




Electric Vehicles or Gas Cars: Which Costs More?

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Two Parked White Electric Vehicles Getting Charged Alongside a Field

We noticed electric vehicles are gaining in popularity and for all the right reasons too.

So, what’s the hype surrounding electric vehicles?

Pros: They don’t require gas. They’re low in maintenance and repairs. Some electric vehicles may even qualify you to receive a tax credit up to $7,500 to cover tax liabilities (you’ll only receive a rebate in the amount of tax liabilities owed).

But wait.

There are a couple of cons you should know about electric vehicles before you consider purchasing one.

Here we’ll compare electric cars versus gas vehicles to help you see the difference and know what you’re signing up for.

Con #1: Electric Vehicles Can Be Costly to Insure

If you thought your car insurance was high for your gas car, you haven’t seen anything yet.

According to Credit Builder company, Self Financial Inc, “The average insurance cost for the average American driver for an electric car in the US is $1,674, with Michigan being the most expensive state at $3,128, and North Carolina, being the cheapest at $1,038.”

Michigan already ranks high in car insurance for gas vehicles, but we’re also apparently ranked the highest to insure electric vehicles.

If you’re not really seeing how an electric vehicle could be expensive insurance wise, divide $3,128 by 12 months for the year. That’s close to $300 a month to insure one vehicle. Some families have at least two vehicles they’re trying to keep insured.

On the contrary, “The average cost for insurance of a gas car in the US is $1,232, with Michigan being the most expensive at $2,032, and North Carolina, the cheapest at $764,” according to Self Financial Inc.

So, you’re looking at roughly an extra $1000 within the year to cover insurance for an electric vehicle in Michigan at least.

Con #2: You Need Time to Prepare When Traveling

While car companies are working to make electric vehicles give you more mileage before having to charge again, you will need to be prepared to make sure you know where charging stations are.

This won’t be like a gas vehicle where you can stop at pretty much any gas station that sells the grade of gas you need.

You will need to charge your vehicle preferably at home before leaving and make sure you know where charging stations are to plan your trips accordingly, especially if you’re traveling out of town.

Which Is Best?

To be honest with you, while insurance costs may be higher for electric vehicles, you will save money in other areas.

You don’t have to worry as much about major car repairs and under the hood maintenance other than brakes and tires. Since these vehicles are electric, they don’t require some of the same basic building components of gas cars, which will save you money since there’s nothing major to repair. You may need a new battery sometime down the road, but that shouldn’t be an issue anytime soon.

It’s also cheaper and cost efficient to charge your vehicle versus having to pay for gas. Electricity can be created in various ways compared to gas (hydropower, wind, solar energy, and burning coal etc.) You’ll never really know how much gas will be since it can fluctuate, so you could still end up paying more to keep gas in your car versus charging an electric vehicle.

“The average annual cost of charging an electric vehicle in America is $460.32, referred to as the egallon, compared to the average refill cost for a gas car which is $837.92,” per Self Financial Inc.

It’s also convenient to charge your car at home instead of going out of your way to get to a gas station for your gas vehicle.

Knowing which vehicle is best for you will depend on what you want in a vehicle. Do you want to keep paying for gas? Are you okay with paying a little more in car insurance for an electric vehicle? Will an electric vehicle make more sense for your lifestyle and commuting needs?

An electric car may be the way to go in the end, but it’s totally up to you. There’s also nothing wrong with keeping your gas vehicle instead.

If you’re considering purchasing an electric vehicle, be sure to talk to your insurance agent to see how that will affect you insurance wise. We have agents available to assist you should you have any questions!