Author: agentinsure

Your business is an investment of your time and energy. There are many types of commercial insurance available to protect your business and your assets. The Homeowners Insurance Group serving Scottsdale, AZ would like you to know what some of your options are.

Commercial insurance may also be known as business insurance. If you have a small business, then you might consider a Business Owners Policy (BOP). A BOP is a type of business insurance that includes three insurance types – liability, property, and business interruption.

An alternative to a BOP is something called a commercial package policy which is for businesses that would fall beyond the purview of a BOP.

Business interruption insurance is coverage against physical interruptions to your business that affect your income.

Property insurance is cover against the damage or loss of your property because of a particular peril. A peril is the cause of your loss.

Comprehensive general liability (CGL) covers all business liabilities though it is important to review any possible exclusions.

Commercial auto insurance is for your business-owned vehicles. There are several variations on this type of insurance but, most importantly, you need to be covered for liability and the loss or damage to property.

Workers Compensation Insurance is for employee injury, disability, or death for which the employer is liable. It is prescribed by the state and is a no-fault system.

Commercial insurance is extensive, and there is something available for every type of business. It is incredibly important to consult with your insurance agent. You need to make sure that you cover as many of the possibilities as you can. Hope for the best and plan for the worst. Speak to the Homeowners Insurance Group serving Scottsdale, AZ today and protect your business.

Having questions about life insurance is not unusual. Most people have questions. Finding or getting the right and appropriate answers can be more difficult. At Homeowners Insurance Group Scottsdale, AZ we are committed to providing our customers with the best possible customer service. You are our number one priority.

What does term mean in term life insurance? 

The term is the length of time the policy will be in effect. It is a policy that has a death benefit if the holder dies within the term of the policy. When the term ends the coverage ends and nothing remains. Most term policies last between 10 and 30 years. 

How is whole life different from term life insurance?

Whole life insurance is a policy that covers you for your entire life, it doesn’t end until death. It accumulates dividends.  Term insurance is strictly for protection during the term, at the end of the policy, there is no value.  

What do you need to do to collect on life insurance?

You need to notify the insurance company and set up a claim. They send you a package of paperwork you fill out telling them how you want to take the disbursement and send the paperwork back with a copy of the death certificate. If you have owned the policy for the required amount of time, usually 2 years, you should be paid within about 60 days.

 Do you need to get a physical to buy life insurance?

Technically no, there are some policies you can purchase without a physical. However, you will have limited options, and you will likely pay a lot more for the policy than you would for a similar one where you had a physical. 

Contact Homeowners Insurance Group in Scottsdale, AZ with your life insurance needs and questions. 

Life insurance is a personal decision you make to support your family. When it comes to how much life insurance is enough, one person’s enough won’t be the same as another person’s. It is a personal decision you can get help with from your local independent agent. At Homeowners Insurance Group in Scottsdale, AZ, we use our access to a wide selection of carriers to provide our customers with the best coverage at the most affordable prices. 

If you are a young, single renter with few commitments and no one who depends on you for support, your need for life insurance is pretty minimal. However, at this point in your life, you have the advantage of age and good health, and it is not a bad time to consider buying life insurance as an investment in your future. 

As your life gets more complex and you take on additional responsibilities, the need for life insurance rises exponentially. You may be the recipient of life insurance as part of your employment benefits package. This amount is just a bonus unless you stay with this employer for your entire working career, which is highly unlikely. You can’t count on it. You need to have the necessary coverage on your own. If you have a spouse and children, that can be as much as 10 years of your income. You want to make sure they can maintain their current lifestyle and plan for educational needs. 

After you retire, you may find your need for insurance is not as high as when you had more demands on your income. At this point, you have options about what to do to make sure you are covered but not over-covered.  

Contact Homeowners Insurance Group in Scottsdale, AZ, when you have questions about your life insurance coverage. 

A Scottsdale, AZ area individual that wants to improve their personal insurance position will have a few different options to consider. A good form of insurance coverage to think about getting is umbrella insurance. There are many reasons people here may need to get one of these policies to strengthen their overall insurance position. 

They Want More Liability Coverage

A common reason that someone here will need to get an umbrella plan is to know that they have the liability coverage they need. Anyone here will benefit by getting liability coverage in an auto or home plan. However, there continues to be a risk that you could be liable for an accident that exceeds these plans. With umbrella coverage, you can get the additional protection needed if there is a claim that damages your current policies. 

They Want Peace of Mind

A key reason that anyone will want to have umbrella insurance is when they want to have peace of mind. There are a lot of different liability risks that can be mitigated with certain insurance plans. However, others do not have specific insurance coverage or are harder to foresee coming. If you get an umbrella plan, you will know that you are prepared for the unexpected. This can provide you with comfort and peace of mind.

A Scottsdale, AZ resident needs to make sure that they get the right insurance protection at all times. If you are going to look for an insurance plan when you are here, the team with the Homeowners Insurance Group can offer you great guidance. If you call the Homeowners Insurance Group, you can get the support needed to build and choose a quality insurance plan. 

While living in Scottsdale, AZ, you always have to be prepared to deal with the possibility of flash floods happening during any rainy season. The best way to prepare for such natural challenges is by having flood insurance provided by the Homeowners Insurance Group in this region. However, before you can buy flood insurance, it is necessary to understand some common myths and avoid them where necessary. 

Home Insurance Covers Flood Damage

Many homeowners think that their regular home insurance policy covers possible damages that are caused by floods. However, this is not the case, and homeowners must look for additional alternatives to address flood damage. The best method to cover flood damages is to have supplemental flood insurance covering all the damages associated with floods. 

You Can’t Get Flood Insurance in High-Risk Flood Zone.

There is an argument that people who live in high-risk flood zones will not be getting flood insurance. However, this is just a myth. You can easily get flood insurance for your home or business in areas that have been categorized as a high-risk flood zone by Federal Emergency Management Agency. Most of the insurance companies categorize every area across the country as high-risk when it comes to flooding. 

Source of Flooding Doesn’t Matter.

When buying flood insurance, you should be very specific about the source of flooding because it plays a critical role when filing for a claim. Insurance companies will cover flood damages associated with flash floods from rains or melting snow. However, floods from damaged water lines and groundwater floods will not be covered by most of the insurance companies across the country. 

When you’re looking for flood insurance in Scottsdale, AZ, you need to understand such myths and get the facts right to avoid future problems. Homeowners Insurance Group will help you understand the facts behind flood insurance and prevent you from falling into possible traps.

Owning a business can be stressful, but having adequate commercial insurance coverage can provide much-needed peace of mind. Like other states, Arizona requires that small businesses maintain two commercial insurance coverage types – workers’ compensation and commercial auto insurance. In Arizona, any business that consistently hires or employs at least one person, regardless of whether they are full-time or part-time, must carry workers’ compensation insurance. The only exception to the law is if your business employs independent contractors, casual workers, or domestic workers that only work from their home. In addition to workers’ compensation insurance, which helps pay for medical bills sustained from an injury or illness an employee contracts while working, Arizona businesses must also have commercial auto insurance on any business-owned vehicles. Keep in mind that if you require your employees to use their personal vehicles for work purposes, then commercial auto insurance will not cover them if in an accident. In these situations, having hired and non-owned insurance coverage will protect your employees while using their personal vehicles on the job.

In addition to workers’ compensation insurance and commercial auto coverage, businesses in Arizona may also want to consider additional coverage depending on the company type. While these coverages are optional, having the extra peace of mind is well worth the additional cost. For instance, if your business stores confidential and sensitive customer data on their own servers or in the cloud, then cyber liability insurance is a must because it helps pay for damages associated with a data breach or cybersecurity incident. 

At Homeowners Insurance Group in Scottsdale, AZ, our talented team of insurance experts can walk you through all your commercial insurance options, answer your questions, and personalize a policy that is perfect for your business.