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Insurance Buying Basics

2017 July 20 by

You’ve decided it’s time to consider a new insurance policy. Whether it’s a home or auto policy, or a personal or business policy, learning a few basics about purchasing insurance will help guide you to make the best strategic and most cost-effective buying decision. Consider for a moment the impact of insurance on the average household budget. According to ValuePenguin, a research analyst firm, the average household spends approximately 9% of their budget protecting their assets with various forms of insurance. By educating yourself on insurance fundamentals you can rest assured that your insurance budget will be put to work for you and provide you with the peace of mind you deserve.

Key Factors to Consider with Insurance

 

When purchasing new insurance, or evaluating an existing policy, first consider the value of the asset you need to protect. You will want to weigh the benefits of a high or low deductible policy relative to how likely you are to make a claim and in terms of your personal financial ability to manage the variable costs between both types of policies. Next it is important to consider any specific ibuying insurance basic tipsinsurance policy terms and their ultimate impact if a liability or claim were made. You will also want to determine if there are any bundled insurance or preferred client discounts that could make the overall cost of your insurance policy more attractive.

In terms of reviewing the insurance providers you are considering, you will want to factor in both the company reputation, quality of customer service, and company resources in the event of a claim. It is imperative to not make your insurance buying decision based on financial factors alone as the provider who would most meet your needs in the event of a claim may not necessarily be the lowest price or deductible you receive.

Let Us Help Your Find the Right Insurance Policy

 

As you review your current insurance policies, future insurance needs, and your overall financial goals as related to your insurance, you may choose to turn to a trusted insurance professional to help guide you through the insurance purchasing decision in order to make the best possible choices. To receive a no obligation consultation contact us today at 714-258-2800 or 888-725-7776.

Summer Travel And Auto Insurance

2017 July 14 by

Summer is a time when many families take to the road for vacation. Longer time spent in the car means inevitably unforeseen wear and tear on your vehicle or a higher likelihood of an automobile accident. Whether you are traveling near or far, taking the time to make sure you understand your auto insurance coverage in the event of a mishap or need to make a claim while on the road is a wise step in keeping your family protected during summer travel.

Understanding Your Auto Insurance Coverage

Common Auto Insurance Coverage:

  • Collision Insurance
    Covers damage to your vehicle caused by a collision with another vehicle or with any other object, regardless of fault. Collision insurance does not cover bodily injury (BI) or property damage (PD) liability.Property Damage (PD) Insurance  When you are at fault. Covers damage to another person’s property (vehicle or other object) caused by a collision with your vehicle.business and personal auto insurance
  • Bodily Injury (BI) Insurance
    Pays for the injuries of others when you are at fault.
  • Medical Payments Insurance
    Provides for the payment of medical and similar expenses without regard for legal liability.
  • Comprehensive Insurance
    Covers damage or cost of repairs to your car caused by reason other than collision, such as fire, theft, windstorm, flood, or vandalism.
  • Uninsured and Under-insured
    Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance or who does not have sufficient liability limits to pay for damages.
  • Endorsements/Riders
    Covers special equipment such as wheels, tires, premium electronic not installed at the factory and reimbursement for towing and rental.

Before taking to the road for summer travel, be sure that you have all of the necessary insurance documents that will be required if you were to need to make a claim while away from home. You will want to bring with you your insurance card, a copy of your policy terms, the contact information for your automobile insurance policy claims department, your insurance provider’s roadside assistance number, and the contact information for your insurance agent.

Determine in advance of a trip whether your automobile insurance policy would require cash out of pocket towards your deductible if an accident or repair were needed while traveling and make sure you have access to the funds if required.

Additionally, families often rotate drivers while on long road trips so be sure to review your insurance policy terms to make certain that all drivers which may be getting behind the wheel during your travels will receive policy protections if an accident were to happen.

While each of the above may seem like simple steps, taking the time to make sure you are thoroughly prepared while traveling can save untold amounts of stress for you and your family in the event an automobile insurance claim may need to be made during your journey.

If you are interested in reviewing your current auto insurance policy, receiving a free no obligation quote, or having your insurance questions answered, contact us today at 714-258-2800 or 888-725-7776.

 

How Well Do You Know Your Insurance Policy Coverage’s?

2017 July 6 by

When the time comes to buy insurance, be it auto, home, or any other type of policy, often times we tend to focus on the financial elements of the purchase when making our buying decision. The question most frequently asked by insurance purchasers while evaluating a policy is what are my monthly premiums and what will my deductible be when making a claim. It’s important to understand; however, that knowing what is covered by your insurance policy is the most vital consideration in determining the right insurance coverage for you.

Understanding Your Insurance

do you understand your insurance coverages

Take, for example, homeowner’s insurance. You will need to understand what types of damage or liabilities are covered by your homeowner’s insurance policy and, even more importantly, under what circumstances those conditions are covered. For instance, certain weather related damages may not be covered by homeowner’s insurance policies dependent upon your policy’s specific terms and conditions. In the case of auto insurance, your policy may limit your coverage if you are proved to be the person who caused the accident. Or, in the case of both home and auto insurance, if you file too many claims during a certain period of time your coverages may be limited. If you do not know how your insurance policies function in the examples listed above, it may be time to revisit your policies, evaluate what coverage’s you have, and make sure your current policies meet your needs for both protection and cost effectiveness.

Reviewing Your Policy and Making Changes

 

Once you’ve reviewed your insurance policies personally, taking your existing coverage’s to an experienced insurance agent for a consultative review of the terms and conditions of each policy is a good step in making the right decisions when it comes to your personal insurance policy needs. An insurance agent can educate you as to gaps in coverage that may need to be adjusted and will have the savvy to negotiate the best premium and deductible conditions with their stable of preferred insurance providers.

If you would like to evaluate your insurance policies, determine whether your insurance policy coverage’s meet your needs, and feel confident that you have achieved the best deductibles and premiums for your budget, then call us today for a free no obligation consultation and quote at 714-258-2800 or 888-725-7776.

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Why Is It Important To Have Insurance On Your Business?

2017 June 30 by

The Benefits of Business Insurance

 

If you are a business owner, you most certainly pride yourself on your company and its operations, products, services, and employees. You have worked hard to establish your business’ financial viability and the importance of protecting your personal investment of time and money into your business will be of paramount importance to you.Business Insurance Is Money In The Bag

Whether you are a small or large business, sole proprietor or corporation, a business insurance policy provides the basic protections necessary to keep your business secure, financial stable, and operational in the face of standard business operating liabilities. Coverage’s commonly provided by business insurance include general liability, business property and asset protection, data and records protection, and employee injury and liability protection. In cases where your business uses vehicles as part of its daily operations, general business auto insurance coverage may also be applicable.

Understanding Your Business Insurance Needs

When considering coverage options versus cost, business insurance proves a wise investment for companies of all sizes as the protections it provides far outweigh what is often times a nominal monthly premium cost. In determining the business insurance coverage needs for your enterprise, a number of factors will be considered to establish which policy options are best suited to provide optimal protection at the best price. The number of employees you have, the value of your corporate assets, the number of storefront locations, and the estimated worth of your corporate data records will all be considered when determining the best business insurance protections for your individual needs.

With the multitude of factors that need to be considered in determining business insurance coverage, working with a professional insurance agent will make the process of securing the right business insurance policy easier, efficient, and cost effective.

What does a business owner’s policy usually cover?

  • Buildings – the cost to repair or replace your building
  • Business Personal Property – the contents of your buildings, including furniture, fixtures, machinery, equipment, inventory and tenant improvements to the building
  • Property Off Premises – a limited amount of coverage for business property that is not on the insured premise (or property that is usually at the business location, but isn’t in this particular case)
  • Glass and Signs
  • Business Interruption Coverage Money and Security Coverage – pays for money and securities taken by burglary, robbery, theft, disappearance, and destruction.
    • If your business suffers a property loss it could cause the business to slow or close down while repairs are made. This may mean a complete or partial revenue loss depending on the timeframe and the damage. From the time the loss occurs until your business is running again, insurance can replace your lost profits, and provide a source of money to pay your necessary continuing expenses, like rent, payroll, taxes, etc.
    • You can also buy insurance to cover any extra expenses incurred in getting your business back into operation. It may take a while once you re-open for customers to discover you are back in business, which may hurt your bottom line. To meet this need, insurance companies offer coverage for the difference between your “before loss” business income and your “after loss” business income for a month or more while you regain your customers. Crime coverage – Property policies usually don’t cover the loss of money and securities, and exclude many crime-related losses. However, you can purchase crime coverage, which includes:
  • Money and Security Coverage – pays for money and securities taken by burglary, robbery, theft, disappearance, and destruction.
  • Employee Dishonesty Coverage – pays for losses caused by most dishonest acts of your employees, such as embezzlement and theft

To learn more about business insurance, the appropriate coverages for your business, and to receive a free consultation and quote – contact us today at 714-258-2800 or 888-725-7776.

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What Does Your Homeowners Insurance Actually Cover

2017 June 23 by

Summer Weather and Your Home Insurance

It’s officially the start of summer and the seasonal signatures of balmy temperatures and sunny skies are also marked by variable weather conditions. The summer season is fraught with weather related incidents that can impact your home and possibly inflict damage, from high winds, heavy rains, flood, drought, wildfires, and more. In 2016 alone, according to statistics from the Federal Emergency Management Association (FEMA), extreme weather incidents caused $53.5 billion dollars in damage. The question then becomes, are your home and assets protected from weather related damage via your homeowners insurance policy and what does your homeowners insurance policy cover in regards to weather related incidents.

Understanding What is Covered by Your Homeowners why you need property management insurance in orange county californiaInsurance

 

Most homeowners insurance policies provide coverage for damage to your home incurred by common incidents of weather such as rain, heavy winds, hail, sleet, and lightning, among others. The specific amount of insurance coverage you receive is based on your individual policy and is comprised of an analysis of your home’s value and the value of the contents within the home, conducted by your insurance provider at the time coverage is secured. For specific weather related incidents, such as flood or wildfire in high threat regions, you may be required to purchase an additional rider policy to protect your home if such an incident were to occur.

Working with a Trusted Insurance Agent Promises the Best Protection

 

With so many variables impacting your coverage, it is important to work with a trusted insurance agent when securing homeowners insurance or evaluating the existing coverage you already have for your home. An insurance agent can guide you as to what weather related occurrences will most commonly need to be covered, what the appropriate level of protection should be, and which deductible level is most appropriate for your needs and budget.

Ultimately, the right homeowners insurance coverage and the expertise of a seasoned insurance professional can give you the peace of mind necessary to focus on the best of summer with the knowledge that you are protected if the season’s more extreme weather comes your way.

For a free, no obligation homeowners insurance policy quote, or to have your homeowners insurance policy questions answered, call us at 714-258-2800 or 888-725-7776 today.

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