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Do I Need Homeowner’s Insurance Before Closing On New Home?

2017 May 25 by

Purchase Homeowner’s Insurance Before Closing on Your New Home


You have made the decision to buy a new home which is likely one of the most important and largest investments you will ever make financially. Protecting your new home with homeowner’s insurance is important to you, and by law you are required to maintain homeowner’s insurance at all times, but do you need to purchase homeowner’s insurance before the closing on your new home? The answer is a definitive yes as not only will homeowner’s insurance prior to closing be required by your lender, but also provides advantages to you financially.

Mortgage Lender Requirements for Homeowner’s Insurance

Any asset-based financing, such as a new home loan, requires proof of insurance based on U.S. financial homeowner insurance rates for orange county cainstitution laws and best practices. This means that prior to attending the closing on your new home, you will need to secure homeowner’s insurance and documentation proving the acquisition of the insurance. Homeowner’s insurance should be purchased for the full asset value of the new home in order to meet lender obligations customary at closing. Additionally, you will want to have documentation on your insurance premium payment schedule from your chosen homeowner’s insurance provider as you may wish to escrow your homeowners insurance payments in conjunction with your mortgage payments, thereby spreading out the cost of your homeowner’s insurance payments and reducing the impact of lump term payments.

Benefits of Buying Homeowner’s Insurance in Advance of New Home Closing

While closing on a new home is a hectic time and adding the decision making for choosing homeowner’s insurance may seem like just one more item on a long to-do list, there are decided advantages to purchasing homeowner’s insurance in advance of closing on a new home. By purchasing in advance, you will be able to work with a trusted insurance agent to thoughtfully evaluate the coverage that you need to best protect your new home and personal belongings. Making the decision in advance of closing will also give you security and confidence that you are financially protected from the minute you take the keys to your new home – thereby allowing you to fully enjoy the purchase of your new home for the major life event that it is.

If you are interested in evaluating homeowner’s insurance policies that will be protect your new home purchase, let us help. Call 714-258-2800 or 888-725-7776 to receive a free consultation and no obligation quote.


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What is Fiduciary Liability Insurance

2017 May 19 by

Fiduciary Businesses and their Role

Fiduciaries play an important business role in our nation’s economy. They protect our country’s workers in the present and in the future by managing health care plans, overseeing pensions, handling employee savings and profit sharing programs, and generally maintaining employee financial welfare plans to insure they are operating at their optimal level.What is Fiduciary Liability Insurance

Such an important, and strategically valuable role, however does open fiduciaries to certain liabilities not often faced by other business. Whether mismanagement practices are real or perceived, a fiduciary that is litigated faces long and costly court battles and expenses that could ultimately cause irreparable damage to the fiduciary. Additionally, if publically traded, a fiduciary may face deteriorating stock prices in the face of litigation related to their best practices for asset management.

What is Fiduciary Liability Insurance


Historically, liability claims against fiduciaries increased substantially following the passage of the Employee Retirement Income Security Act of 1974, also known as ERISA. ERISA’s fundamental goal is to protect employee pension and benefit plans and the interests of those plan’s beneficiaries. If your business is a fiduciary enterprise that manages or provides administrative support for the oversight of employee financial benefits and programs, it is imperative that you protect your company with Fiduciary Liability Insurance.

Protections offered through Fiduciary Liability Insurance include not only the coverage of financial expenses and legal expenses resulting from claims or litigation, but also the protection of personal and professional assets should a claim be successful and result in damages.

Next Steps for Obtaining Fiduciary Liability Insurance

The coverage each individual fiduciary company requires from Fiduciary Liability Insurance is variable and based on their daily business operations, asset volume, and other areas of exposure. Meeting with an informed, professional, and client-focused insurance agent, with expertise in and thorough understanding of Fiduciary Liability Insurance and exposures that may result through ERISA laws, is vital.

Let us assist you in evaluating your Fiduciary Liability Insurance needs through a free consultation and  and free quote evaluation. Call us today at 714-258-2800 or 888-725-7776.




How To Find The Best Auto Insurance Company For You

2017 May 12 by

Finding the right auto policy and cutting your premiums.

Auto insurance is an important and necessary part of most family’s monthly financial budget. According to the U.S. Bureau of Labor Statistics Consumer Expenditure Survey, the average U.S. household spends 9% of their annual income on insurance expenses. It then follows that finding the best auto insurance provider becomes paramount in order to assist with obtaining optimal coverage at the greatest possible value for both your family and its budget.

Choosing the Right Insurance ProviderInsurance agency location ahead

There are multiple factors to consider when choosing the best auto insurance company for your needs. First you will want to evaluate the insurance company’s expertise. Make sure that they have a long-standing reputation for quality customer services and a successful track record of handling claims. Next, evaluate the cost of the insurance relative to the coverage you are receiving. The lowest price may not always be the best price when you take into account your potential deductibles, possible out of pocket expenses, and liability maximums in the event of a claim. Lastly, make sure there is an accurate and easy to access reporting system for claims in place at the insurance company as this will save both time and frustration in the event that you do have to make a claim in the future.

A Trusted Insurance Agent Can Help

With so many options to evaluate when selecting an insurance company, and a multitude of auto insurance companies from which to choose, finding a trusted insurance agent to help you can make your auto insurance decisions easier. An insurance agent will be able to evaluate your needs, structure your auto insurance policy to maximize your value and coverage, and negotiate out the best terms from their in-house stable of preferred insurance providers. The end result of using an insurance agent is a more efficient auto insurance purchase process and a more confident decision in the insurance provider you ultimately choose.

These are just a few of the decisions that you’ll have to make when purchasing auto insurance coverage. We are here to assist you through the process. We will compare prices, coverage, deductibles, and other items to help you get the most value.

  • 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.
  • 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.

Let us assist in evaluating your auto insurance needs by calling  714-258-2800 or 888-725-7776 to receive a free consultation and no obligation quote.



Protect Your Business With Cyber Insurance Coverage

2017 May 5 by

Cyber Liability Insurance

We Live In An Online World

The way we conduct business in our global economy has evolved for enterprises small and large alike. Online advancements have made access to information, money, and customers achievable at rates faster than ever before for those businesses savvy enough to deploy technology in the best way for their brand, product, or service.With great reward comes great risk, as the saying goes, and this is certainly evident in the field of cyber security which possesses a significant liability concern to today’s business owner.

The Cyber Security ThreatCyber Crime Business Insurance

According to Fox News, 43% of cyber attacks in 2015 were against small businesses. The Department of Justice Crime Complaint Center cites an increase in cyber security complaints of 1,500% between 2000 and 2014. Further, Forbes has reported that the annual cost of data breaches to business owners will reach $2.1 trillion globally by 2019. The potential threat of cyber security risks is not to be under-estimated as the resulting impact to a business can be both long-term and substantial.

Protect Yourself With Cyber Liability Insurance

Cyber Liability Insurance is a unique insurance product that offers extended protection for cyber related security, data destruction, theft, hacking, and other Internet-related liabilities. Cyber Liability Insurance policies include protection for both the business itself and for claims brought by customers in the face of an online threat or data breach. Cyber threats are not traditionally covered by other insurance policies, making the addition of Cyber Liability Insurance a particularly sound judgement call for businesses of all sizes which rely on the Internet and online data storage as part of their standard daily operating procedures.

Additionally, Cyber Liability Insurance may provide, depending upon the policy, an extra level of Internet-based security services which could include security audits, public relations support in the face of a cyber-security breach, or reimbursement of expenses incurred due to a cyber threat – all of which lend a greater level of protection normally not available to more modestly-sized companies.

Purchasing Cyber Liability Insurance

Cyber Liability Insurance is a specialized insurance product and should be evaluated by a business owner in partnership with an insurance agent with the expertise to make the right recommendations based on the business’ exposure and perceived liability in Internet-based technologies.

To learn more about Cyber Liability Insurance policy options and to receive a free quote evaluation, call us today at 714-258-2800 or 888-725-7776.

Finding Out If Umbrella Insurance Is Right For You

2017 April 28 by

Umbrella Insurance – Comprehensive Protection Come What May


When evaluating which type of insurance policy is best for you, your family, or your business, it may be beneficial to consider a comprehensive level of coverage called Umbrella Insurance. Consider Umbrella Insurance an enhanced protection policy which provides extra security for your assets and reduced expenses Umbrella Insurance Specificswere a major claim to befall you.

Umbrella Insurance Specifics

Many insurance customers wonder what Umbrella Insurance is and what it covers. On its most basic level, Umbrella Insurance provides an additional level of coverage to protect your property and assets from major claims. Also, Umbrella Insurance extends coverage for home and auto insurance claims when the liability coverage stated in those insurance policies have been exceeded. Finally, Umbrella Insurance may provide coverage for claims excluded in other insurance policies that you may have.

Who Needs Umbrella Insurance Coverage

Personal Umbrella Insurance is often recommended for high-income individuals and should be purchased at a minimum equal to their net worth. Examples of uses for personal Umbrella Insurance coverage include major claims if you were to cause an automobile accident, providing coverage for damage to your home during a storm once the existing homeowner policy maximum liability had been met, or protecting your assets in case of a law suit.

Commercial Umbrella Insurance is an important consideration for business owners of small and large enterprises alike. Commercial Umbrella Insurance can provide extended coverage for physical damage to a business location, cover the costs of a lawsuit from a customer, or even provide a budget for a public relations firm in the case of a crisis communication situation.

Finding Out if Umbrella Insurance is Right For You

Just like purchasing an umbrella as protection for a rainy day, consider the purchase of Umbrella Insurance as a decision that should be made before fate befalls you with unfortunate circumstances.

To learn more about Umbrella Insurance policy options, their benefits to you, and to receive a free no-obligation quote, call us today at 714-258-2800 or 888-725-7776.