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Life Insurance Basics

Posted by on Sep 26, 2016 in Life Insurance, Uncategorized | 0 comments

Life Insurance Basics

  When you start shopping for life insurance you’ll quickly discover that there are two main policy types: Universal, sometimes referred to as Whole or Permanent life insurance, and Term. Understanding the major differences between the two policy types will make it easier to select the one that’s right for you. Term Life Insurance Simply put, Term insurance has an expiration date – This type of policy is in force for a set number of years, and then the coverage ends. Because the company has a lower risk of paying out on this type of policy, the premiums are generally more affordable, allowing you to take out a higher amount of coverage. Common terms for these policies are 10, 20, and 30 years. The longer the term, the higher the premium is likely to be due to the higher risk of death occurring during that time period. Term policies do not offer cash accumulation accounts. At the end of the term, the premiums you have paid do not come back to you in any way. If you want to take out a new term policy after the term ends, your age and any changes in your health may result in a higher premium or even a denial. Universal Life Insurance Commonly referred to as Whole or Permanent life insurance, Universal life insurance typically covers you as long as you live, or until you hit a predetermined age-usually around 99 years-in which case the policy will pay out. In most cases, this policy will last until your death. This type of policy is more expensive because the company expects that they will definitely pay out on it at some point, since it does not expire. As long as you continue to pay your premiums, this policy remains in force no matter what happens regarding your health. When to Purchase? Whether choosing Term or Universal life insurance, it’s important to know that age; medical history and even occupation are the main factors in determining premium cost. If purchasing Term insurance, a good rule to follow would be to purchase a 30 year policy before age 25 while in good health. If purchasing Universal insurance, it would be best to purchase a policy prior to age 25 while in good health. Which one to choose? Both of these types of life insurance have their place and are useful in different situations. The best type of policy for you depends on how much coverage you need, how long you need the coverage, and what you can afford to pay for your premiums. In many cases, a combination of two policies, one from each type, offers the best coverage. For more information or to receive a no-obligation quote, give us a call at:...

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What You Need to Know About Condo Insurance

Posted by on Sep 13, 2016 in Home Insurance, Uncategorized | 0 comments

What You Need to Know About Condo Insurance

As a homeowner, obtaining a good home insurance policy that protects your assets is one of the essential costs related to purchasing a home. But if you own a condo there may be some additional considerations you need to be aware of when selecting the policy that’s right for you. Here’s what you need to know about condo insurance. Content Coverage Living in a gated community or secured building, as most condo complexes are, may give you a false sense of security. If your condo insurance does not cover your unit’s contents from theft and other damage you could be leaving a huge gap in your coverage. Also, if you own valuable items such as jewelry, antiques or firearms your content coverage may not protect the full value of these items and an additional rider may be necessary. Condo Association Coverage Another issue to consider is whether your Condo Association has blanket coverage that will protect you from damages that may be caused by other condo owners who do not have liability insurance, or have limited coverage. Since condo owners pay fees that include a number of shared costs, such as property maintenance and some utilities, insurance should be offered by your Condo Association to protect you in these cases. If yours does not, you may want to check out ways to include it.  In most cases this type of shared coverage will cost each owner less than individual liability insurance and will keep all condo owners protected. Ownership Issues Since the actual property ownership of condos includes both private and shared property, condo insurance must cover both. In the case of shared property, the major concern is liability insurance that will cover any damage that may be caused by your negligence or an accident that would damage shared property or the property of another condo owner. Earthquake Coverage It’s important to know whether or not your association has an earthquake policy, what the deductible is, what the policy covers and what it doesn’t cover. Request a copy of the policy annually from the association’s management company. Lender Requirements Most lenders have specific requirements when it comes to condo insurance and will periodically request a copy of both the blanket coverage and your individual policy. It’s important to comply with their request and provide the proof they’re asking for, otherwise they might place coverage for you which is quite costly. These are the basics of what you need to know about condo insurance. For more information or to receive a no-obligation quote, give us a call today –...

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Key Points to Consider When Evaluating Auto Insurance Quotes

Posted by on Aug 30, 2016 in Uncategorized | 0 comments

Key Points to Consider When Evaluating Auto Insurance Quotes

It’s that time again, your auto insurance renewal is approaching and you want to shop around to ensure you’re getting the best value for your money. Shopping around for auto insurance is the best way to make sure you are getting the best value. However, not every agent or insurance company quotes in the same way. It’s important to be sure you are evaluating the quotes carefully to ensure you are you are not sacrificing essential coverages for a lower premium. Learn how to compare auto insurance quotes for a truly good rate. Take a look at our key points to consider when evaluating auto insurance quotes What’s the policy term? Some rates look absolutely incredible-until you realize the policy term is only six months. Some companies offer different policy terms as well as different payment plan options. If you plan to make monthly payments on your policy, be sure to ask for the monthly premium. It isn’t necessarily as simple as dividing a yearly premium by twelve. Many insurance companies charge fees for the privilege of paying your premium on a monthly basis, which can make the total yearly cost of the policy higher than quoted. What are the coverages? When you read over an auto insurance quote (and do read it-ask for it to be emailed or faxed to you, as mistakes can be made over the phone!) look to be sure that the numbers listed for liability limits, uninsured motorist coverage, and the comprehensive and collision deductibles match up. Then look for additional coverages that are listed on the quote, such as roadside assistance. Make sure that all of the quotes you compare list exactly the same coverage, for accurate comparison. What are the discounts? An auto insurance rate may appear lower because it was quoted with a discount such as auto/home which you may not necessarily qualify for or desire. If you don’t plan to take out a homeowner’s policy with the same company, make sure they haven’t quoted it that way. Also check for other discounts; they won’t all match up, as every company offers different discount options. The best thing to do is to compare which discounts you do qualify for, with each company, to help determine who is offering the best discounts. Be on the lookout for discounts that don’t actually apply to you and will likely be removed by underwriting after you accept the policy. A good quote will be simple, straightforward, and easy to read. It will outline all of the coverage included in the quote and apply only those discounts for which you truly qualify. An inaccurately low rate in the quote won’t do you much good if it changes once you accept the policy. For more information or to receive a quote, give us a call today – 661-235-5885....

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What Does Your Commercial Auto Policy Cover?

Posted by on Aug 15, 2016 in Business Insurance, Uncategorized | 0 comments

What Does Your Commercial Auto Policy Cover?

While you’re selective in choosing the people you hire, everyone makes mistakes.  Unfortunately, when someone is driving a vehicle owned by your company, you can be held responsible for those mistakes. Commercial auto insurance makes certain that your business assets won’t are protected when accidents happen. You count on a commercial auto policy to protect your business from liability risks that could be incurred when you or an employee gets behind the wheel for business purposes. In order to get the most from your commercial policy, you need to know what it covers, and more importantly, what it doesn’t. When setting up your commercial policy, it’s important to ensure that every potential driver who might get behind the wheel is listed on your policy. As new employees join your company, you will need to contact your insurance agent and make sure they are added to the policy. If anyone who is not listed as a driver gets behind the wheel, you run the risk of being denied coverage in case of an accident.  A commercial auto policy can and will protect all of the drivers in your business, but only if they’ve been properly added as insured drivers. Two of the most common types of commercial auto policies are: Fleet and Individual. Under an individual policy, a specific car owned by your business is covered for liability as well as other options you might choose. When you have a fleet policy, you will have a single policy that covers every vehicle owned by the company. Much like adding new drivers, you should be certain to add and remove vehicles as needed to keep your policy up to date. A commercial insurance policy covers you for property damage and injuries to others that occur as a result of the actions of a covered driver. This means that if your employee is found to be at fault in an accident, the commercial auto policy will kick in and protect your business assets in the event of a lawsuit for damages. Why does this matter? Because if you don’t have the coverage you need, your business could face financial ruin. When a business is involved, lawsuits are more likely; injured parties see the likelihood of a higher financial payout. Your commercial auto policy protects you from this sort of lawsuit, providing coverage for the liability you take on when you let employees drive your vehicles. A commercial auto policy also protects you from damage that can be done to the vehicles you own in the course of business use. Vehicles that are on the road more often-as many business vehicles are-are at a higher risk of being damaged. Your commercial policy protects you from errors made by your drivers, theft, vandalism, and other damage. For more information on commercial auto insurance or to schedule a review of your current policy, contact us today at: 661-235-5885....

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Under What Circumstances Should You File a Homeowners Insurance Claim?

Posted by on Jul 28, 2016 in Home Insurance | 0 comments

Under What Circumstances Should You File a Homeowners Insurance Claim?

Under What Circumstances Should You File a Homeowners Insurance Claim? Whether it’s damage due to a natural disaster or an unexpected accident or break-in, knowing when you should file a home insurance claim and what the consequences will be either way, is important.  So when should you file a home insurance claim and what will that mean for your future rates?  Here are some things to consider before contacting your insurance company. Assess Your Options The first thing to consider when making a home insurance claim is whether your current policy will cover the claim or not.  You should know exactly what your insurance covers before you ever need to make a claim; however, checking on the specific claim you are going to make-before contacting your insurance company-will give you the upper hand. Once you have determined whether you are eligible or not, the next thing to consider is whether a claim is necessary.  There may be instances when the deductible for your particular claim is higher than the costs, and in that case a claim would be a waste of time.  You may also want to consider if the overall cost is worth any potential rate increases that may result from a claim. Contacting Your Insurance Company If you do decide to make a claim, arming yourself with all the necessary information will make the process go quickly and smoothly.  Be sure you have all your insurance policy documents readily available, as well as any documents that relate to the claim-repair estimates, police reports, and photographs.  It is also a good idea to keep track of all contacts with your insurance provider, in case a dispute occurs. In most cases, making a claim on your home insurance is a good idea.  Keeping calm, organized, and informed can make the process stress free as well. For more information, give us a call at:...

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The Top Three Factors Affecting Life Insurance Premiums & Qualification

Posted by on Jul 15, 2016 in Life Insurance | 0 comments

The Top Three Factors Affecting Life Insurance Premiums & Qualification

You might never have really thought about what it takes to qualify for a life insurance policy or what affects the premiums you pay. By the time you get around to figuring it out it could be too late. Here are the top three factors that go into determining what you will pay for your life insurance coverage as well as whether or not you will qualify for coverage. Occupation & Hobbies If you have a dangerous occupation such as a firefighter, or engage in potentially dangerous activities like certain sports, this can affect your eligibility for life insurance as well as your premiums. When you put your life in danger either at work or at play, the insurance company sees a higher risk of paying out on the policy. In some cases they may deny you altogether simply based on the activities you engage in regularly. These are some of the major factors leading to insurance company decisions regarding life insurance premiums and whether or not you qualify. Some of them can’t be changed, while others can-and you should take them all into consideration if you want to get the best rate on your policy. Age The older you are, the more you will pay for life insurance. When you take out a policy at a younger age, the company expects that you will be paying the premiums for a much longer time period, and therefore your monthly payments will be smaller. The older you get, the shorter the time period during which they can expect to receive payments from you.  This means they will increase the premiums accordingly.  Your age also has an impact on your health.  The older you are the more likely it becomes that you will develop a serious health condition that could make it even more likely the company will pay out on the policy. Health Everything about your health will be taken into consideration when you apply for a policy. Most companies will require at least a questionnaire filled out, if not a visit from a doctor or nurse to check up on your overall health. This includes things like your weight to height ratio to determine if you are overweight, blood tests to check cholesterol and look for serious illness, and sometimes more. They will ask about your lifestyle as well as smoking, drug, and alcohol use. Even what seems like a minor health issue can result in a higher premium amount, because it could develop into something more serious later on. These are the top three factors leading to insurance company decisions regarding life insurance premiums and whether or not you qualify. For more information on the variety of life insurance products we offer, please contact us:...

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Announcing Our New Carrier – Hagerty Classic Car Insurance

Posted by on Jun 9, 2016 in Classic Car Insurance | Comments Off on Announcing Our New Carrier – Hagerty Classic Car Insurance

Announcing Our New Carrier – Hagerty Classic Car Insurance

  We’re proud to introduce Hagerty as part of our product offering in our agency. About Hagerty® Over 30 years, Hagerty has grown to be the leading global provider of classic car and boat insurance, but they’re still just a family business built on love for classics. Their passion drives them to keep improving their product and to give their clients the best service imaginable. Why Hagerty®? At Hagerty, they’re as passionate about classics as their clients are. Their deep knowledge of classic vehicles and their owners allows them to offer better coverage for less. They offer: Guaranteed Value™ coverage – They’ll agree up front on a fair value for your classic, and in the event of a covered total loss, you’ll receive that full amount, less any deductible or salvage value, if retained. Guaranteed. Flexible usage – Classic and collector cars were made to be driven. Whether you’re going to a show or taking a cruise to an ice cream shop, you are protected. Hagerty Plus® Roadside Service and Benefits – A comprehensive 24/7 full service roadside assistance program specifically for collector cars. It offers service for lockouts, battery jumps, tire changes, emergency fuel delivery and more. Includes guaranteed flatbed towing with soft straps. Expert claims handling – Their claims adjusters are trained in classic vehicle repair. In event of a claim, they offer stock original replacement parts and even have specialists on staff to hunt down rare and hard to find parts. Low premiums – Because they only protect classics, they’re able to offer insurance at rates considerably lower than daily driver insurance. What Hagerty Insures: Hagerty is the world’s leading insurance provider for classic vehicles, offering coverage for classic cars, trucks, motorcycles, boats, tractors and more. Hagerty also offers coverage for high-value collections, overseas shipping and touring, classic car-related businesses and club liability. Guaranteed Value™ With Hagerty’s Guaranteed Value™ (agreed value) coverage, they’ll work with you to agree on a fair value for the classic, and in event of a covered total loss, they’ll pay that amount (minus any deductible or salvage value if you keep the vehicle). To find out more, give us a call today! 844-253-1511 or drop us a note:...

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The Importance of Commercial Auto Insurance

Posted by on May 3, 2016 in Auto Insurance, Business Insurance | Comments Off on The Importance of Commercial Auto Insurance

The Importance of Commercial Auto Insurance

You have other insurance policies in place to protect your company from liability, fire, theft, and other potentially ruinous events.  Commercial auto is the policy that will protect your company when you or your employees are on the road. Whether your company has one car or a hundred delivery vans, there is a commercial policy that will suit your needs.  You can obtain individual commercial policies for each vehicle used by the company, or choose a fleet policy if you have more than a few cars. If you run a business that requires the use of vehicles for company activities, you need a commercial auto insurance policy.  Commercial insurance policies are designed to protect you against the wide variety of liability issues you face when you have employees on the road using your vehicles. Without a commercial auto policy, if an accident were to occur, you and your company will be held accountable for property damage and injuries.  Only a commercial policy can protect you and your business from financial disaster. For more information on commercial auto insurance, please contact Kathy Seifert (CA License 0H46706) at Key Partners Insurance Services, Inc. at 661-235-5885 or [email protected] Key Partners Insurance Services, Inc. is a full-service independent insurance agency located in Valencia, CA. Check Out Our Website! Follow us on Facebook Follow us on...

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Choosing Life Insurance Beneficiaries

Posted by on Apr 6, 2016 in Life Insurance | Comments Off on Choosing Life Insurance Beneficiaries

Choosing Life Insurance Beneficiaries

Choosing Life Insurance Beneficiaries is one of the most important decisions a person makes in his or her lifetime. Life insurance is, after all, meant to protect family and loved ones after we’re gone. While immediate family may seem to be the obvious choice, there may be other people and organizations which rely on you whom you don’t want forgotten. Children and Spouse – For most of us these are the beneficiaries to whom most of our funds will go. It’s important to ensure you choose a policy that will not only cover their daily expenses such as any outstanding debts and mortgage payments, but also future expenses such as tuition fees for your children and a retirement fund for your spouse. Parents – If your parents rely on you for help with expenses such as medical fees, prescriptions, or other living expenses, it’s important that you leave a portion of the coverage to them. This will give you peace of mind of knowing they’ll be taken care of. Extended Family and Friends – Whether it be siblings, nieces and nephews, or close friends who rely on you for various expenses, ensuring that they are covered is also important. Business Partners and Employees – If you own a business or are involved in any business ventures with other individuals, making sure that their interests are protected is extremely important. It’s also important that you have the necessary protections in place for any employees you may have to ensure they are not put in a difficult financial situation. Organizations and Charities – If you offer financial support to any charities, organizations, or groups that rely on your support, making sure that it continues after you’re gone is an important part of taking care of your responsibility in estate planning. An easy plan is to allocate an amount similar to what you currently provide over a set period of years following your death. There are many individuals to consider when choosing life insurance beneficiaries. Before purchasing a new policy or when reviewing your current policy for an increase or change, reference the groups listed above and make a list of the individuals that apply to your situation. Our circumstances change frequently so it’s a good idea to get in the practice of reviewing your life insurance beneficiaries list on an annual basis and be sure to contact your insurance agent with any additions, deletions or allocation changes. For more information on choosing life insurance beneficiaries, please contact Kathy Seifert (CA License 0H46706) at Key Partners Insurance Services, Inc. at 661-235-5885 or [email protected] Key Partners Insurance Services, Inc. is a full-service independent insurance broker located in Valencia, CA. serving clients throughout California. Check Out Our Website! Follow us on Facebook Follow us on...

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Teen Drivers – Tips For Saving Money on Auto Insurance

Posted by on Mar 9, 2016 in Auto Insurance | Comments Off on Teen Drivers – Tips For Saving Money on Auto Insurance

Teen Drivers – Tips For Saving Money on Auto Insurance

Anxious? If your son or daughter has recently reached the age when they are starting to drive, you’re likely experiencing enough anxiety without thinking about what your teen driver is going to do for your car insurance rates! Inexperienced drivers usually come with high insurance premiums, and having the facts about insuring your teen driver before contacting your insurance company will ensure you’re ready to find the best value for your insurance dollars.  Read on to find tips about saving on auto insurance if you have a teen driver. How Insurance Companies Include Additional Drivers Some insurance companies assign the most expensive car to the most expensive driver, making them the primary driver for that vehicle whether or not this actually reflects the circumstances.  If you have a luxury car, this could cost you a fortune.  Your options are to buy your teen an older vehicle or switch to an insurance company that doesn’t use this method. Shop Around Getting the best deal with any major purchase involves shopping around.  Getting quotes from several companies before adding a teen driver may save you money. Keep Their Grades Up Most insurance companies look at factors such as your teen’s grades to measure responsibility, much as they would look at the credit score of an adult.  Requiring good grades as a part of their responsibility as a new driver is a good idea, both for them and your pocketbook. Driver’s Education Taking a Driver’s Education course often provides an insurance discount for teen drivers.  It will also give them the skills they need to be safe drivers. Increase Your Deductible This is always an effective way to reduce your insurance rates, but always be sure you choose a deductible that you can safely afford. Keep Your Teen Accident Free The best way to keep your rates down and your teen safe is to encourage safe driving practices.  This includes having rules about when your teen can drive, the number of passengers they can have in the car, and a no tolerance policy if they violate these rules.  Driving is a privilege, not a right, and instilling this mentality in them as new drivers will keep them safe through the years. Ask Your Agent Remember to ask your agent for her/his advice prior to any major changes to your household insurance portfolio. For more information: Contact us at 844-253-1511 or [email protected]..

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