There’s a lot to think about when you’re trying to choose the right life insurance policy. It’s also not something you can just put off and hope for the best. You need to ensure you have enough coverage to protect your loved ones in case something happens to you. Homeowners Insurance Group offers this guide in navigating this important coverage.

What Are My Life Insurance Options in Scottsdale, AZ?

There are two primary types of life insurance: term life insurance and whole life insurance.

Whole life insurance is exactly as it sounds. It’s lifetime coverage as long as you pay your premiums. Term life insurance covers you for a specific period, usually 10-20 years.

Another option is a universal life insurance policy that offers both term and whole life insurance. This policy gives you more flexibility in how much coverage you need and when you need it. The difference between whole and universal life is that it’s based on market value, not just a set premium payment.

For help understanding the different types of life insurance policies, contact the experts at Homeowners Insurance Group.

How Much Life Insurance Do I Need in Scottsdale AZ?

This is probably the most critical question when you’re trying to choose the right life insurance policy. There are a few things to consider when trying to figure out how much coverage you need.

First, you need to consider how many dependents you have. This includes your spouse, children, and other family members who rely on you for financial support.

You also need to think about your current debts and future expenses. This includes mortgage, car payments, credit card debt, student loans, and other outstanding debts.

Last, income plays a role in how much life insurance you need. If you’re the primary breadwinner for your family, they will need enough money to replace your income if you die.

Contact Us Today

When choosing the right life insurance policy for you and your loved ones, it’s essential to consider all your options. The team at Homeowners Insurance Group can help you find the right policy for your needs.

When it comes to life insurance, a lot of people don’t think they need life insurance. There is more than one benefit of obtaining life insurance that you may not realize. Here’s what you need to know about life insurance in Scottsdale, AZ and how Homeowners Insurance Group can help you get the coverage you need.

Who Needs Life Insurance?

Believe it or not, everyone needs life insurance. If you’re a parent, life insurance can help you with the everyday expenses of raising children and saving for their college tuition or other essential milestones. As a spouse, life insurance guarantees that you’re covered for any shared expenses, including loans. If you’re a student, obtaining a life insurance policy can help with federal student loans. These loans are forgiven if you pass away. However, private student loans will be transferred to the co-signers. Having an active life insurance policy protects your loved ones from carrying this debt.

As an entrepreneur, life insurance can help keep the business running by naming a business partner as your life insurance beneficiary. You will also benefit from having life insurance if you’re a caretaker. Whether you’re providing care for an adult child or aging parent, a life insurance policy can help your relatives find a new caregiver if something happens to you.

Contact Us Today

Here are a few takeaways regarding life insurance. This type of insurance provides your family with financial protection when you pass away. Buying life insurance when you are in your twenties and thirties can save you money on your premiums in the long run. Life insurance can take care of your funeral costs, your family’s everyday expenses, and any debts you might leave behind. 

Homeowners Insurance Group is dedicated to providing Scottsdale, AZ residents with insurance options. Contact us today to learn more about our insurance services.

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.