THURSDAY, DECEMBER 24, 2020 Easy Ways to Reduce Your Auto Insurance Premium Whether you live in a big city or a small town, every stretch of roadway could be dangerous. The driving risks around you are the reasons you need car insurance. However, these risks can also influence how much you pay for your plan. Sometimes, they might make your plan might more expensive. Still, auto insurance policyholders have resources to help them save money on their policy, even when high driving risks threaten. Let’s look at some of the ways you can save on your plan practically. Determining the Right Amount of Coverage for You Forty-nine out of fifty states require all registered drivers to carry some form of car insurance. They also set minimum limits on the amount of coverage you can carry. However, many drivers choose to buy more coverage than the minimum limit. Still, by buying more coverage, you will have to pay more for it. This might make you hesitate to take this step. But increasing your coverage does not mean astronomical price increase. Most increases are affordable and will always be far less than the amount needed for uninsured or underinsured losses. Plus, there are usually many ways that you can keep costs affordable. Some of these include: Increasing your deductible: Your policy’s deductible is the amount of money you agree to pay for vehicle damage yourself. Therefore, if you increase your deductible, you agree to pay more of these costs yourself. This shifts cost burdens away from the insurer and could lower your premium. Applying policy discounts: Nearly all major insurers offer numerous policy discounts, and every policyholder might qualify for at least some of these. If you qualify for a discount, then you will save money compared to someone else who does not have it. You might be able to add accident-free discounts, automatic payment discounts, student discounts and more to your plan. Taking a safe driving course: Safe driving courses help you re-familiarize yourself with the rules of the road, and the best practices to keep yourself safe. If you take and pass a course approved by your insurer, then you might qualify for a policy discount. Remembering to be a safe driver: It is no secret that safe drivers are less likely to have wrecks and file claims on their car insurance. Therefore, if you make a conscientious effort to be safe, you lower your own risk of facing a problem behind the wheel. As a result, you are unlikely to see significant premium increases when you renew your auto insurance. Since the cost of your auto insurance will be impacted by how much coverage you buy, always work with your agent to make sure you are getting the right benefits. Buying both too little and too much coverage could cost you a lot of money in the wrong situations.

TUESDAY, DECEMBER 22, 2020 Factors That Might Increase Your Home Insurance Cost No one wants to see any of their insurance rates go up, especially their home insurance. After all, you need this coverage to protect your property. So, you should be able to afford it. Home insurance premium increases can happen for countless reasons. Sometimes, they occur through no fault of your own. In others, however, you have control over the situation that might raise your premiums. Let’s take a closer look at common causes of rate hikes and what you can do about them. Risk 1: Your House is not Structurally Secure As a home ages, safety risks might begin to beckon. Older wiring, unsafe appliances or other potential hazards might put you at risk of a fire or other issue that, while not apparent, might still lurk below the surface. These safety risks might cause your rates to increase, which is why you should always perform regular upkeep and maintenance tasks. Risk 2: You Make Risky Additions to the Home If you make changes or improvements to your home, then you might face safety risks even by trying to make your home better. Adding a fireplace, swimming pool, tree house or even a deck to the home might create additional safety risks. For example, the fireplace might become a fire risk. Swimming pools could cause injuries. Therefore, your home insurance rates might increase. Risk 3: Your Neighborhood Might Become Unsafe Most property owners are concerned about safety when choosing where to live. For example, burglaries might increase in your neighborhood. Risks of bad weather, floods or other disasters might also increase, even if they don’t directly impact your home. The fact that there is a higher likelihood of them happening could cause your home insurance rates to increase. However, by making your home more secure against weather, theft and related hazards, you can still minimize these risks. Risk 4: You Bought More Expensive Possessions As you accumulate more possessions, particularly possessions of value, you will likely need to buy more contents insurance. As a result, you’ll probably see your home insurance rates increase. Not only is this added coverage, but it is also added risk to the insurer. If an expensive item is damaged or destroyed, there is a change your home insurer might have to pay more. Additionally, other factors might influence your premiums, such as inflation, state insurance regulations and adjustments to insurance risk pool might drive up your costs. Furthermore, if you make a high number of claims on your policy, then you might see increased rates, too. Still, your home insurer will work with you to make sure you maintain as affordable a premium as possible under the circumstances.

THURSDAY, DECEMBER 17, 2020 What Is Guaranteed Acceptance Life Insurance? You might be thinking about getting life insurance on yourself. After all, it is a benefit that will offer your loved one’s financial assistance if you pass away. However, you might worry that a pre-existing illness or other extenuating circumstance might disqualify you from getting coverage. Still, there might be many life insurance policies available for you, one of which is a guaranteed acceptance life insurance policy. How does this coverage work? What is guaranteed issue life insurance? A guaranteed issue life insurance policy is a plan that eliminates many of the qualifications that other policies require applicants to meet before they can enroll in coverage. Therefore, you will be able to get life insurance even though you might be a high risk to insure. These plans are sometimes called guaranteed acceptance plans, too. The unique thing about guaranteed issue life insurance is that it eliminates most medical requirements for applicants. When you apply for a personal life insurance policy, your insurer will likely require you to undergo a medical exam. This is so they can get a better idea of how your physical health might affect your mortality. After all, if you have high health risks, you are more likely to die. Therefore, your life insurance risks will increase. Sometimes, they might be so great that a traditional insurer might deny your application. A guaranteed issue plan eliminates that risk. When filling out your enrollment paperwork, you will not have to undergo a medical exam. Usually, this plan will guarantee you automatic acceptance up to a certain death benefit amount. For example, this might be $75,000. However, if you want to apply for more coverage, you might have to proceed with a medical exam, and this extra benefit is not a guarantee. For people with chronic health conditions, a history of severe illness or other life insurance risks, a guaranteed issue policy might prove the ideal solution. Because you don’t have to undergo a medical exam, you don’t have to feel like your health issues are a stumbling block to getting the life insurance you deserve. Often, a guaranteed issue plan will only consider factors like your age, health, gender and occupation when determining your premiums. You can often obtain them within just a few hours, in some cases. However, there are risk associated with guaranteed issue coverage, too. These plans might be more expensive than traditional life insurance plans, particularly if the applicant has no significant health risks. They might also provide more limited benefits. If you are otherwise healthy, and can undergo a medical exam, then a standard life insurance policy might not be the best choice for you. You therefore should work with your agent to determine which policy is in your best interest.

Insurance TUESDAY, DECEMBER 15, 2020 Frequently Asked Questions About General Liability Insurance If you are a business owner, then you probably know that you have to protect your company, employees, clients and others against any risks you might pose them. These liabilities could cost you a lot of money in worst-case scenarios. You therefore must be ready for any eventuality. To do so, you will need general liability insurance. It’s a benefit that no responsible business owner can be without. Consider a few of the questions that most people have about general liability insurance. The better you understand it, the better you will be able to tailor your plan to your advantage. Am I required to buy general liability insurance? General liability insurance helps you compensate others (who don’t work for your business) when they sustain injuries, property damage or other personal losses that are your fault. In these situations, lawsuits might arise, and you often must compensate the affected party for their losses. This is an important plan to have, and in some cases you might be required to buy it. This coverage requirement varies by industry and by local regulation. If you do have to buy a plan, however, then you must carry the terms required of you. How much liability insurance do I need? All businesses face different liabilities. You want to use your liability policy to both cover the costs of common losses in your industry and protect your own financial assets from significant losses. Many liability policies offer a minimum of $1 million in protection. However, you have the option to increase your coverage and adapt it to your needs. What businesses need general liability coverage? General liability insurance is not restricted by industry. It is a benefit that every business, no matter its shape, size or purpose should carry. There are injury risks in every company from auto repair shops to clothing stores. Professionals like lawyers, graphic designers, artists and other contractors need these benefits, because even their professional mistakes might cause harm. Even self-employed individuals need this coverage. After all, a lawsuit from a dissatisfied customer could be an astronomical cost. Can I buy liability insurance as part of a BOP? Small business owners often find their solutions for business insurance in Business Owners Policies, also called BOPs. A BOP contains tailored coverage designed to meet your coverage and budgetary needs within a small operation. Usually, it contains several benefits, including general liability coverage, within one package. However, you can still tailor the benefits to your company’s advantage. A BOP is a practical benefit that no one can do without. However, even if you don’t qualify for a policy, you can still find an affordable general liability policy with the help of your agent. Our expert team is happy to work with you to determine how best to get this coverage.

THURSDAY, DECEMBER 10, 2020 Will My Health Insurance Work in Another State? Health care isn’t just something you get from your local physician. You should be able to get care from an appropriate physician when you need it. Sometimes, this might mean leaving town, and even crossing state lines. The question that many people ask, however, is whether their plan will cover them when they travel outside of their state of residence? On one hand, health plans are not restrictive in terms of geography. Different plans can cover physicians of all kinds in hospitals, practices and communities across the country. However, the point is that not all plans cover all doctors in all places. Therefore, you will have to carefully review your benefits so that you can determine when coverage is provided for out-of-state services. Why don’t all health plans work in all states? Perhaps you are on a trip when you get sick and need to seek medical attention. Maybe you want to visit a specialist physician who practices at a large, well-known hospital in another state? In either case, you should of course seek the attention you need. However, you must be aware of how your own insurance benefits will cover the services. Health insurance is a tightly regulated industry, and all states have a lot of leeway to set different rules on how insurers can operate within their borders. As a result, not every insurance company in your state (including your own) might be able to operate in the state where you want to seek care. Even if an insurer might have branches in two different states, the plans benefits offered might differ between the two branches. The plans you can buy in your state might not be the same as those offered in another. Therefore, your own ability to receive care outside of your home state could be limited. How can I see if I have coverage for out-of-state care? If you are planning to receive out-of-state medical care, then the place to start is by checking your insurer’s physician network. A network is a list of physicians, hospitals and other care providers who accept your health insurance plan. By visiting them, you have a guarantee that you will receive both covered care and optimized prices on any out-of-pocket expenses. Many major health insurers have networks that span multiple states and physician groups. Therefore, even if you live in Oklahoma and receive your benefits there, you might be able to easily see a doctor in Texas, provided that they accept your plan. Usually, your insurer will provide you with an easy way to search your provider network and make informed decisions about your care. Therefore, you’ll know before you go exactly what you can expect to pay for your care.

TUESDAY, DECEMBER 8, 2020 Auto Insurance for Cars Damaged in Your Garage Car damage doesn’t just happen because of a wreck. Damage could occur anywhere, even in places that you consider safe. Your garage is one of them. You might think the garage is the safest place for your car, which indeed it is. However, even cars parked in garages aren’t immune from risks. If your car sustains damage in your garage, then you might want to use your insurance benefits to pay for the repairs. However, you must make sure you have the proper insurance benefits to begin with. With the help of your insurance agent, it is easy to add the right coverage to your plan to cover damage to your parked car. Auto Insurance for Cars in Garages Most people don’t think twice about parking their cars in their garage. That’s what they are there for after all. However, what happens when something goes wrong? Perhaps one night, a fire breaks out in your garage. You not only have to repair the structure, but also the damaged vehicle. This could cost a lot of money, and it is only natural to want your insurance to help you out. On one hand, home insurance often supplies coverage for certain possessions housed within the garage. However, because cars are very expensive, specialty assets your home insurance generally won’t cover it. You will have to rely instead on your car insurance. Still, your car insurance will cover the damaged car only if it has the right coverage at the time of the damage. The coverage you need to have to be able to receive these benefits is called comprehensive damage insurance. Comprehensive coverage pays for vehicle damage that is not related to a collision. It covers you against perils like fires, theft, severe weather, vandalism or related events. Since you aren’t driving a car that is parked in your garage, then damage occurring at this time will likely fall under comprehensive coverage. When putting together your comprehensive coverage, you will need to think about the right ways to structure your benefits. Most policies will include deductibles. Any damage cost that falls below your deductible value is your responsibility to pay. Therefore, always choose a deductible that you can afford to pay out of pocket. If you total your car, then comprehensive coverage might pay you based on either the car’s replacement cost value (RCV) or actual cash value (ACV). If you have RCV coverage, then your plan will pay you an amount similar to the like-new value of the car. If you have ACV coverage, then your settlement will be based on the car’s used value at the time of the damage. Deductibles will apply. Your insurance agent is committed to working with you to find the best comprehensive benefits for you and your vehicle. You can rely on us to help you find the perfect coverage solutions no matter what your needs.

THURSDAY, DECEMBER 3, 2020 What to Look for on Your First Homeowners Insurance Policy If you are planning to buy your first home, then you have likely considered taking out a mortgage to finance the purchase. When you do, your lender will likely tell you that you are required to buy homeowners insurance. Since buying your first home is a lot to absorb, the home insurance requirement might seem confusing. This is not an uncommon requirement, however. Still, you might not know exactly what to look for if you haven’t bought coverage before. Consider just a few of the essential things to consider when investing in coverage. Why Lenders Require Home Insurance If you take out a mortgage on your home, the money your bank supplies is not yours. It is on loan, and you must repay it over the years (usually with interest). Your mortgage is your lender’s investment in you. They therefore want to protect that investment because it relates to their own stability. Homeowners insurance is the vessel that helps them do so. It will make sure that you won’t lose out on your investment just because of an unexpected problem in the home. Coverage to Buy in Your Policy Any home mishap might prove costly, particularly if you weren’t expecting it. Home insurance makes sure you have financial support as you pick up the pieces and move on with your life. That’s a huge support system when you need it. Essential coverage that you likely need includes: Dwelling insurance which helps you pay for damage to the house itself. So, if a fire, storm, falling tree or other hazard damages the house, then this coverage can repair it. Your lender will likely require you to carry coverage based on the home’s replacement cost value. This might be different from the sticker price you paid for it. Other structures insurance is a second benefit that covers buildings on your property that are detached from the home. These might include storage sheds, detached garages, fences and more. Liability insurance protects you in case you face legal action from someone who claims you caused them harm. For example, if a neighbor falls on your sidewalk and sues you for their injury costs, then this coverage can help you pay. Possessions insurance covers your belongings in your home, and you can buy scheduled items riders to adequately protect high-value belongings. Living expenses coverage helps you pay for costs like hotel or dining bills if you must temporarily move out after a hazard at home. Plus, there are many other benefits you can add to your plan. While you must make sure you meet your lender’s coverage requirements, you still have leeway to increase your benefits to meet your needs. Your insurance agent will be an invaluable partner in this process. You can trust us to make sure you always get benefits that provide you with optimized protection.

TUESDAY, DECEMBER 1, 2020 Why Your Business Needs D&O Insurance Companies must take responsibility for employees at all levels of employment. Among the most important to the business is its c-suite and board of directors. They are critical players, but also high liabilities to your company’s success. To give them the liability insurance they need to do their jobs, you will need to buy directors & officers (D&O) insurance. D&O insurance is important to both company leaders and the company. It gives them more reassurance that they have the support they need to succeed, but it also protects the company from the ramifications of the company principal’s mistakes. Here’s how it works. What is D&O Insurance? C-level executives, boards of directors and other company leaders are the public faces of a business. They also are those whose primary tasks are to bring in new business and guide the company’s operations. Still, they are not immune to mistakes, and if they cause problems for others, then the effects could be far-reaching, both internally and externally. On one hand, your company might have general liability and professional liability insurance to safeguard itself against these risks. However, these policies do not protect employees on an individual level. When it comes to company principals, they need a personalized liability insurance benefit, which is where D&O insurance can step in. In liability lawsuits, a company director might be named specifically. Therefore, not only their place within the business, but also their personal assets could be under threat. Their family, too, could face ramifications, even when a mistake made by the director was unintentional. The benefit of D&O insurance is that it helps protect the director while they address these mistakes. They won’t have to worry about losing their home or facing financial instability even if they must make restitution to those affected by their negligence. Why D&O Policies Are Beneficial Under a D&O plan, company principals have very clear pathways on how to handle liabilities. The executive will receive compensation for their personal losses based on a claim. Policies clearly outline the executive’s personal liability and the company’s liability for claims. If the company must compensate the executive, then D&O coverage can supply the funds. Plus, the policies can pay under a variety of circumstances, including following: Employment practices lawsuits claiming harassment, wrongful termination, etc. Investor lawsuits over breach of fiduciary duty or stock performance. Allegations of misuse or mismanagement of company funds. Breaches of industry regulations. Given that these are all sensitive matters which directors handle every day, D&O insurance can give them confidence to do their jobs. It is not permission to misbehave, nor is it going to cover them against illegal actions. However, it does represent that they have support behind their decisions. Indeed, many company directors want to know they have this coverage when interviewing with new companies. Therefore, by having a D&O plan, you’ll be able to always attract top-tier talent.

THURSDAY, NOVEMBER 26, 2020 BOPs Can Protect Your Company Assets and Save You Money By buying business insurance, you take a big step to secure your finances and create a strong risk management strategy. After all, you never know when a single incident like a fire or break-in could devastate your business and cost you a fortune. One of the simplest ways to put together a strong business insurance portfolio is to start your coverage with a business owners policy, better known as a BOP. It’s a great way to not only get strong coverage, but also to save money on your benefits. Consider just a few of the extensive property benefits that a BOP can provide with just a few simple steps. Why BOPs are Customizable BOPs generally offer several standard types of commercial insurance in one place. These are: Property insurance to cover your company’s owned assets, including equipment and inventory. Liability coverage that pays for third-party injuries or property damage that are your fault. Business interruption insurance that will offer you coverage for lost income or overhead costs that continue to burden you even if you have to temporarily halt your work. However, just because BOPs will offer you standardized coverage, that doesn’t mean they are not customizable. This is a particularly good benefit when it comes to your company property. After all, no two businesses are alike. That’s why the belongings you seek to insure are going to vary considerably, and you’ll want your BOP to be able to address them. Within your BOP’s property insurance, you might be able to insure: Your inventory and the materials used to make products if you manufacture them on-site. Marketing materials. Company equipment. These items might be anything that you use to manufacture products. Furnishings such as shelving or storage cabinets, break-room appliances, chairs, desks or decorative items. Electronic items such as computers, printers, company mobile devices or tablets. Signage (both indoors and outdoors) Of course, if you own the buildings that house your business, then your BOP can also insure the structure of the property itself. However, if you rent the property, then you usually don’t have any obligation to by coverage. However, it is important to remember that all BOPs will include exclusions and limits to what they will pay for certain losses. For example, your policy won’t pay for normal wear & tear, nor will it cover any damage that costs less than the deductible on your coverage. Another common exclusion is a limitation on what your policy will pay for outdoor signage. Still, you can work with your independent insurance agent to determine exactly how to tailor your BOP’s property coverage to your benefit. There are various coverage endorsements available which might be precisely the benefits you need for your company assets.

TUESDAY, NOVEMBER 24, 2020 Can You Get Life Insurance If You Have a Pre-Existing Condition If you have a chronic health condition, then you will likely have to deal with certain medical needs for the rest of your life. These might include things like diabetes, heard or kidney disease or even cancer. Even if you have the illness under control, you still have a risk of a relapse. Additionally, you have a risk of an earlier death, which could make you worry about your family’s financial future. To shore up your financial security, you might want to get life insurance. However, because of your pre-existing condition, you might find that it is harder to get the life insurance you want. All the same, there is still hope. Though there might be a few restrictions in your way, you can still often still qualify for quality life insurance that will provide you with strong protection. What are my life insurance options if I have a chronic illness? If you have a critical or chronic issue, then some life insurers might find you too big of a risk to cover. Or, they will exclude you from coverage under some policies, but can still offer you other coverage. Most life insurers will require you to undergo a medical exam to get a policy. They do so because they want to gauge your risk of death based on your current health. A pre-existing condition might be a marker that will disqualify you from coverage after you complete your policy application. However, some policies do not require applicants to receive medical exams. These are usually called guaranteed issue policies, and an applicant can choose a benefit up to a certain amount of money without an examination. Though these might be a bit more expensive than the average medical-exam policy, they still can be affordable, and make it easy for applicants to get the coverage they deserve. How can I get a guaranteed-issue policy? There generally is no special requirement that you have to meet to be able to request a no-medical-exam life insurance policy. Therefore, the application process will generally be pretty easy. Contact your life insurance carrier and explain your condition and concerns about qualifying for coverage. They’ll help you review the policy options from different carriers to decide which ones are best for you. Because these policies might be more expensive than a policy that requires an exam, it is important to be able to compare several policy options to determine the best one for you. Plus, if you can qualify for a policy that requires a medical exam, then it is still important to take this step. In the end, you might save money on your coverage overall.

THURSDAY, NOVEMBER 19, 2020 Are Crumbling Foundations Covered by Home Insurance? Your foundation is truly one of the most important parts of your home. It keeps the property stable and level. Therefore, damaged or deteriorating foundations can make your home quite flimsy and insecure. A damaged foundation can damage all other components of the home. It is perfectly natural for a home to settle and for the foundations to crack from time to time. In many cases, these losses aren’t anything to worry about. It is when these damages become severe that you might need to take action. However, whether home insurance will cover these damages might depend on a few different factors. When does home insurance not cover foundation damage? Your home insurance will not often cover foundation damage. Homeowners policies are designed to cover unexpected or unavoidable household damage. Generally, this definition does not apply to many of the more common causes of foundation damage. Soil erosion, pest invasions, age and poor construction are among the leading causes of crumbling foundations and the resulting household damage. In most cases, these are hazards that occur over a long time, and you generally have a chance to prevent these incidents through regular household maintenance tasks. General wear and tear will also not have coverage. However, if you feel that the cause of the household damage might very well have been unpreventable, then you might be able to file against your home insurance. To get a better idea about whether your foundation damage will have coverage, ask yourself a few questions: Could you have prevented the damage? Was this damage related to normal wear & tear? Did it occur due to lack of maintenance? Did this problem occur slowly, or was it sudden? These are only general ways to determine if your home insurance covers your foundational damage. However, it never hurts to call your insurance agent to determine how it will help you out. They might be able to work with you to determine better ways to achieve this coverage. When will my plan cover foundation damage? When you call your home insurer, they might be able to tell you when your plan will cover foundational damage. Some of the situations where you might have coverage include: A gas explosion or fire damages the structure. A burst pipe floods beneath the home. Severe weather causes the home’s foundation to shift. Generally, this coverage will only kick in if this hazard causes the damage, rather than causing existing damage to worsen. Plus, a few natural causes of foundational damage, namely floods and earthquakes, generally don’t have coverage from home insurance. You will likely only be able to buy this coverage through separate coverage. Your agent is more than happy to work with you to determine the best way to insure your home against foundational damage. If there are ways they can help you expand your coverage, then they will be more than happy to do so.

TUESDAY, NOVEMBER 17, 2020 How To Choose Health Insurance When You Are Self-Employed Many people receive their health insurance through their employer. However, if you own your own business or are self-employed, then you might not have this coverage option unless you get a policy yourself. While getting health insurance for your own business might seem complicated, it does not have to be overwhelming. Self-employed Americans who want quality health insurance have to consider several different questions when searching for coverage. However, by working with an experienced agent, you’ll be able to pinpoint the policy that will always be to your greatest benefit. How should I set up my health plan if I am self-employed? If you are self-employed, then you still need health insurance. However, you won’t be able to get a plan through another employer. After all, you are your own boss. To get your health benefits, you’ll have to be the person who buys the policy. This might be a single-issue policy that you use to cover you and your family. Or, if you are a business owner who has employees who work under you, then you might purchase a group benefits policy in which all employees (yourself included) can participate. It is important to carefully weigh your personal circumstances to determine how best to structure your health benefits. Here are some of the important things to consider: Depending on the number of people you want to insure, and their relationship to you, the type of plan you need might vary. For example, you might need an individual policy if you only want to cover yourself. However, if you have a family to insure as well, then you might need a family health plan. Different insurers might offer better plan options depending on the circumstances. Some health plans offer tax benefits. By buying one of these policies, a self-employed individual might be able to write off this expense when they file their taxes. You’ll want to get coverage that enables you to receive care in your particular area. Therefore, you will want a plan with a provider network that allows you to receive services you need from a provider of your choice. If you need to buy coverage to receive dental, vision or prescription drug benefits, then ask your agent the best way to add this coverage into your plan. Your plan will likely include deductibles, which are costs of care that you have to pay on your own before your plan will pay. Therefore, choose a deductible that you can afford to pay. Your insurance agent is happy to help you determine your qualifications for a particular health plan, and compare the benefits and prices offered by numerous policies. In the end, they can help you determine both what coverage you need and which plans offer the best savings for your business.