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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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El Nino Is Here! Are You Prepared?

Posted by on Jan 5, 2016 in Uncategorized | Comments Off on El Nino Is Here! Are You Prepared?

El Nino Is Here! Are You Prepared?

  El Nino Is Here! Are you prepared? Flood Insurance Facts You Need To Know El Nino has arrived in California. Widespread flooding is expected to occur at record levels this season. Does your current home-owners insurance policy cover damage caused by rain? The answer is most likely NO.  MOST home-owners polices DO NOT cover this type of damage. Don’t live through the season wondering. Take a moment to review the following facts regarding flood insurance and call us TODAY for a quote!   1.) WAITING PERIOD There is a thirty (30) day waiting period from the date of purchase before your flood policy goes into effect! For more information visit: www.floodsmart.gov 2.) COST The cost of flood insurance varies widely depending upon flood zones.  Rates are more affordable than you might think.  Click Here To Learn More. 3.) HEAVY RAINS MEAN FLOODING A strong El Nino means heavy rains and widespread flooding is likely to occur and cause costly damage to homes and businesses. Nationwide Flood Risks It’s more than likely  your current home-owners policy will NOT cover damage caused by ground water. Don’t wait! Call us today for a flood insurance quote!...

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