Blog Post #5
Topic Umbrella Coverage
Title: What is an Umbrella?
What is an umbrella? Many people may not know much about them and that would lead them to obviously not get insured with one. An umbrella which many will come as a personal umbrella while other carriers will also have a farm umbrella option, are insurance plans that help people with having excess liability coverage on their underlying policies such as home and auto. The goal of the umbrella coverage is to be insured at higher limits than your home and auto limits so if a claim came against you or you were found liable for damages and your limits on the home and auto were exhausted, your umbrella limits would kick in to help pay for the remaining amount. Umbrella liability policies are also broader in some coverages than the underlying coverages and can also help with legal fees, slander, and false arrest. In today’s society, it is important to be completely covered so that if an incident would happen, your family or yourself will be able to handle the situation and would be limited to having no or minimal out of pocket expenses. Umbrella policies are a great idea if you are wanting to safeguard your home, autos, recreational vehicles, and your finances. It never hurts to ask your agent about an umbrella policy and see if one would be in your best interest!
Complete Insurance.. Here to help you INSURE a brighter future!
Blog Post #4
Title: Enrollment Periods
Fall is here and that means health insurance enrollment periods for individual/family under 65 and Medicare are here as well. U65 individual and family insurance is slowly making a turn for the positive this year and we hope it continues in that direction. This year people will have a few more options as Wellmark and Farm Bureau have now entered into the market to give people another option. Now people have various options such as enrolling on the open marketplace, Wellmark/Farm Bureau, Medica, or being on their employer's insurance policy. The other option which you can enroll in at anytime is short term health insurance but this is more for events that have changed or ended your health coverage and can cover you till you find new health coverage. The enrollment period for individual/family U65 is Nov. 1st through Dec. 15th.
Medicare's enrollment period started Oct. 15th and runs through Dec. 7th. This is known as the Annual Open Enrollment Period. This is where current Medicare individuals can change their Med. Supplement, Medicare Advantage plan, or Prescription Drug plan. This is an important time to sit down with your agent to make sure your current coverages are adequate, adjust any medications, or wanting to see what other carriers and plans are out there. The Initial Open Enrollment Period is for all individuals who will be turning 65. This is a 7 month period (birthday month, 3 months before, & 3 months after) where individuals can sign up for various Medicare plans as long as they have been signed up for Part B. Call or stop in to your agent to see how this procedure works.
The last enrollment period is the special enrollment period. This is for individuals that have had a life changing event which has changed or ended their current health coverage. Such events would be loss of a job, loss of coverage, moving, change of relationship, or a death. So make sure to stop in or call your agent to check which enrollment period you would fall into, what coverages are offered by different carriers, and what stipulations and requirements each period and plans have. Here is to everyone having a healthy fall and great 2019!
Complete Insurance.. Here to help you INSURE a brighter future!
Blog Post #3
Title: Homeowner Types
Many people have homeowner policies and what type of policy depends on if you own or rent your home. It also matters on what type of house and how old. There are five types of homeowner policies:
HO-1: This is just your very basic coverage and only covers perils that are specified in the policy.
HO-2: This type of policy is used for mobile homes and the coverage for perils on your property and contents is specified in the policy.
HO-3: This is the most popular policy type for homeowners. One reason this is the most popular is it covers all perils unless excluded. It also gives you more comprehensive coverage. There are also percentages the house can be covered for and that depends on each insurance carrier.
HO-4: This is the other main policy that is usually sold. This is called a contents-only policy or more commonly known as renter's insurance. This policy only covers your personal property or contents against specified perils. This would be a wise idea to have if renting any type of property.
HO-6: This policy is for residents of condominiums. It covers the person's structure they own and live in within the condominium complex.
HO-8: This policy is for older homes. It covers the home in actual cash value minus depreciation. You have to name the perils you would like to be covered against.
The other part many times you will see in a homeowners policy is replacement cost and actual cash value. Replacement cost (RCV) is what the home is insured for and what it would take to build a new home of same condition if a total loss were to happen. Actual cash value (ACV)is the value of the home minus any depreciation. This is geared more towards the market value of the home.
Regardless of what type of homeowners policy you need, it is important that you have one! Make sure to protect your physical property against various perils such as wind, fire, and vandalism. Make sure to ask questions with your agent and get covered the best you can.
Blog Post #2
Title: Flood Insurance
With all this rain and wet condtions is your home properly covered? Many homeowners have their homeowner's policies set-up with the sewer back up endorsement. This a great endorsement to have on your policy especially if you have a basement. However did you know that endorsement does not cover your home for leaks and flooding due to rain? It is important to talk to your agent about flood insurance. Flood insurance is a seperate policy from your homeowners but provides coverages in areas that may not be covered under a typical homeowners policy. Both dwelling and physical property along with your personal property are covered if water would happen to get into your home due to rain and storms. When purchasing a new home, if the home is located in a flood plain, the mortgagee or bank will require you to have flood insurance. If your home is not located in a flood plain, flood insurance is not required but would be suggested to at least take a look to see what it would cost and how it could help. As always we hope no disaster occurs for anyone but they do unfortunately happen and we want to make sure you are informed about proper coverages and that you ultimately are properly covered for your situation.
Blog Post #1
Title: Comprehensive Deductible (OTC)
When it comes to auto coverages, there are many areas to look at and one of the most common areas are the deductibles. Deductibles are incorporated in the policy to cover physical damage done to the vehicle(s) of the insured(s). The first thing when it comes to deductibles is to decide if you need them or not. If you have a vehicle with a loss payee or loan then it is REQUIRED to have deductibles. If there is no loss payee, then it comes down to the insured and how they value their vehicle. If the vehicle is new or has a higher value, we would suggest having deductibles so that can lessen the burden if there is an accident. Next what are the deductibles? Many people know what the collision deductible is as it covers your vehicle in case you are in an accident for example with another vehicle. However many people do not know what the comprehensive deductible covers, so what does it cover? The comprehensive deductible also known as Other Than Collision (OTC) covers your vehicle for physical damage caused by either vandalism, glass damage, fire, flood, weather related damage (hail), and damage from hitting an animal. Last the comprehensive and collision deductibles do not have to have the same limit. Find what limits work for you and go with them as that can be different for everyone. So make sure to take a close look at your current policy and make sure you are properly covered on each vehicle!
We know that buying auto insurance is a pretty boring affair. And that's why we've made it as fast and as easy as possible for you to get covered. Contact an Agent Today!GET A QUOTE