Category: Insurance

You’ve worked hard to earn your money and the last thing you want is for that cash to be ripped away from you because of a lawsuit or accident. As you accumulate more wealth, the larger a target you become to be sued, because people know that you have the assets available to lose. The best way to protect yourself and your money is to purchase an umbrella insurance policy. Included in every insurance policy from homeowners to auto is liability coverage which protects you from having to pay for damages incurred, medical bills, or any other fees associated with a third party or their property being injured in an accident that you cause.

Similar to any other insurance policy that you carry, liability coverage includes a maximum amount that your insurance company will pay – anything beyond that is your responsibility. Let’s say that you were the at-fault driver in a three-vehicle pile-up that caused $750,000 in damage. Your existing auto liability policy caps at $500,000, which means that you need to come up with the extra $250,000. Luckily, this is where umbrella insurance comes into action by continuing to offer liability coverage above and beyond your existing policies to ensure more broad and far-reaching coverage. In addition, umbrella insurance protects not just you, but all other members of your household – spouse, children, and animals. 

If you have a significant net worth and don’t have an umbrella insurance policy, act fast by contacting the Homeowners Insurance Group in Scottsdale, AZ. We’ll schedule a one-to-one no-obligation consultation with one of our knowledgeable insurance professionals to walk you through the benefits of umbrella insurance and set you up with the right policy for you and your family’s needs. 

 

With climate change generating more natural disasters – including floods – in otherwise unexpected areas, the need and popularity of flood insurance are on the rise. Although your home may not be located in a common flood area, that does not mean that disaster can’t strike, with FEMA estimating that even an inch of water can cause upwards of $25,000 in damage. 

If you live in a coastal or flood-prone area, you are likely required to have flood insurance. If you have a mortgage through a federally banked lender such as the VA or FHA, then having flood insurance will be a condition of your home purchase. To determine if your home is in a flood zone, FEMA’s website maintains a Flood Map Service Center to check the address. When using this resource, keep in mind that FEMA is responsible for the entire United States, and their flood map may not be updated in real-time. 

Contrary to public opinion, flood coverage is not likely to be included in your homeowner’s insurance policy and must be purchased separately. Typically, a flood policy will cover your home’s foundation to include all electrical and plumbing systems and personal property such as furniture and electronics. Additionally, suppose you are forced to relocate because your home is inhabitable due to a flood. In that case, your flood insurance should include coverage to chip in and help pay for those living expenses. 

Whether you live in a flood zone or not, flood insurance should be a priority for all homeowners. At Homeowners Insurance Group in Scottsdale, AZ, our dedicated team of insurance professionals will help you select the right policy for your needs. Give us a call today to schedule a no-obligation consultation with a member of our team. 

Homeowners Insurance Group serves the Scottsdale, AZ community. We are committed to helping our clients obtain the coverage they’re looking for. We want to make sure that our clients are protected in every situation. We offer flexible policies that are designed to evolve as our clients’ needs change over time.

Different Ways That Arizona Business Owners Can Amend Their Commercial Insurance Policy

As a Scottsdale, AZ business owner, you have to juggle multiple responsibilities. It’s important to build a good foundation. Obtaining a strong commercial insurance policy can help alleviate a lot of stress. The policy protects the future of your business in multiple ways. You are covered if your inventory or equipment is damaged or stolen. You are also covered if your property suffers damage due to a fire or inclement weather.

Liability coverage protects your business if you are held responsible for causing injuries or other types of damages. Workers compensation covers your business if there is an injury in the workplace. Workers comp will take care of your employees’ medical treatment. Commercial insurance policies are known for their flexibility. Here are a few ways that you can amend your policy to add extra coverage.

Business Interruption Coverage

Business interruption coverage protects your business through giving you a safety net in the wake of a disaster. If your place of operation suffers extensive damage, you may be unsure of your next move. Business interruption coverage helps you continue to operate your business as usual while your property is repaired.

Professional Liability Coverage

Professional liability coverage protects your business if one of your employees makes a serious error while performing a task. You’ll have a layer of protection as you fight the allegations of negligence.

Homeowners Insurance Group Will Help You Protect Your Assets

Visit our website to learn more information about commercial insurance.

Working for yourself can be a dream. But, in reality, it comes with added responsibility.

Being your own boss can be rewarding. It offers freedom and control as you watch your business grow. Yet, unlike a traditional job, you have heightened uncertainty and less security. You alone must absorb these risks. Fortunately, there are ways to protect your interests. Life insurance is at the top of the list.

Homeowners Insurance Group wants to help ensure you’re prepared. Located in Scottsdale, AZ, their skilled agents list three facts about life insurance.

Life insurance is custom.

Just like your business, a life insurance policy should be unique. The two most common types are term life and permanent life. As the name implies, term life will expire after a set number of years. Depending on age, gender, health, and other factors, term life can be much more affordable when compared to permanent plans.

Life insurance shields your business.

Your business is your legacy. You’ll want it to continue after you’re gone. Life insurance makes that a possibility. Payouts from these policies can keep finances in line, covering debt, loans, or expenses that may be outstanding. It can even help fund a selling agreement for a partner or beneficiary.

Life insurance protects personal matters too.

Life insurance provides for your family as well. Any dependents rely on your income. In addition to paying medical bills or long-term care, it may also cover funeral costs. This money may also pay off any mortgages or credit cards so your family doesn’t have to absorb this burden.

Find an agent serving Scottsdale, AZ

If you run a small business or are self-employed, Homeowners Insurance Group can help. Serving Scottsdale, AZ, they will construct a life insurance policy that’s right for you. Schedule an appointment today.

As the name suggests, umbrella insurance gives you additional coverage on top of your existing insurance coverages. Unfortunately, umbrella insurance is one of the most misunderstood insurance policies. Luckily, the Homeowners Insurance Group of Scottsdale, AZ, is here to shed more light on umbrella insurance.

Here are four important facts you should know about umbrella insurance.

It’s liability coverage

Umbrella insurance covers you when third parties accuse you of causing bodily injury or property damage to them. That said, umbrella insurance doesn’t cover you or your property. For instance, if you cause a severe accident, umbrella insurance will cover third-party claims exceeding your auto insurance. However, your injuries and damages to your car should be covered by your car insurance and not umbrella insurance.

It covers lawsuits

In America, you can be sued for virtually doing nothing. And because litigations can be expensive, you need umbrella insurance to protect your assets. Umbrella insurance covers legal costs, including attorney fees and settlement claims.  

Almost everyone needs umbrella insurance

There is a popular misconception that umbrella insurance is for the super-rich only. This notion can’t be further from the truth. While umbrella insurance protects your assets, that’s not the only consideration to invest in umbrella insurance. Since anyone is at risk of being sued, umbrella insurance is the safety net you run to when lawsuits come knocking on your doors.

Ultimately, you don’t need to reach the million-dollar mark to buy umbrella insurance. As long as you are earning a livelihood, umbrella insurance is a must-have investment.

It doesn’t exist on its own

Umbrella insurance isn’t a stand-alone policy. It rides on existing policies like auto, home, boat, or business insurance. For this reason, you will find that umbrella insurance is pretty affordable.

Buy umbrella insurance today!

Would you like to protect your assets and future earnings in Scottsdale, AZ? Please get in touch with Homeowners Insurance Group to purchase an affordable umbrella insurance plan.

When you are in the Scottsdale, AZ area, owning a home can be a great idea. However, when you do invest in a property, you will want to make sure that you are insuring and protecting it as well as you can. A great way this can be done is by getting a flood insurance plan. You should get this type of coverage for several reasons. 

Protect their Home from Damage

The main reason you should have a flood insurance plan in this part of Arizona is so you can protect your home from damage. If your home is damaged by a flood, it can cause significant interior and structural damages. Depending on your situation, your home insurance plan may not offer enough coverage to cover these damages. A flood insurance plan will give the coverage needed to offset this risk. 

Insurance is Required

You should also consider getting a flood insurance plan in this area if it is a requirement for you to do so. Lenders are very aware of the impact that a flood can have on a home. Due to this, if your home is in a flood zone, they will undoubtedly require that you get a proper flood insurance plan. Usually, they will have you escrow your payments at all times. 

People in the Scottsdale, AZ area that want to own a home will find that having proper insurance is always a good idea. Depending on your home and situation, this can include having flood insurance. If you are shopping for this coverage, it could be helpful to speak with the Homeowners Insurance Group. The team with the Homeowners Insurance Group can give any support you need to fully assess your flood insurance options and choose an ideal plan. 

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.