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How Traffic Tickets Can Affect Your Car Insurance

Auto insurance in Glendale, AZ, is supposed to protect you should you get involved in an accident. It helps to cover repair costs, and it may also feature some benefits that allow you to stay on top of things while you are waiting for things to get back to normal.

However, if you have been the cause of multiple accidents, or if you have a habit of racking up traffic citations, then your insurance carrier might demand more from you. Traffic violations can affect your insurance premiums. While carriers don’t have the power to revoke your license, they can raise your rates to the point where it can be very difficult to drive. In extreme cases, they might drop your coverage completely.

How Long Infractions Stay on Your Record

Just like the DMV, your insurance carrier keeps a tally on how many traffic violations you have committed. These include speeding citations, DUIs/DWIs, and collisions where you are at fault.

Many auto insurance companies offer discounts to those who have a clean driving record. On average, if you have been accident-free for at least five years, you could see a reduction in your premiums. The amount of the discount, and how long you need to have a good record, depends on your carrier. You will want to get in touch with them to see if you qualify and for how much.

If you’ve been involved in accidents, then your insurance carrier will keep a tally on you. These points can last for up to 10 years, depending on the offense. In many cases, you’ll see a rate increase of up to $800 after the first accident. If you get too many citations, then your carrier might choose not to renew your policy at all.

Consider that Arizona mandates that al motorists have an auto insurance policy, and you can see how being unsafe on the road can cost you in more ways than one. Be sure to read up on the details of your insurance policy, and always do your best to make good decisions while behind the wheel.

young couple moving into new home

Your New Home: What to Do First

Moving into a new place can be an exciting experience–especially when you’ve closed on a home. With moving day fast approaching, it’s essential to take stock of what you need to do after you’ve settled in. Here are a few things that should be at the top of your To-Do List.

Get Homeowners’ Insurance

A home is an investment as well as a place to live. As such, you want to take measures that can protect you in case something goes wrong in your home. You should purchase homeowners’ insurance in Glendale, AZ. Many policies are available that provide coverage that can come in handy if you need to make repairs in case of severe weather or an accident.

Change the Locks

It is always a good idea to make sure only you and your family can access the new home. Change out the locks at all of the entryways and make new keys as well. In addition, verify that all of the doors and windows can close securely.

Check Your Circuit Breaker and Water Supply

The move-in period can be hectic, and the last things you need are electrical or plumbing failures slowing you down. Locate your home’s power panel and make sure it is appropriately labeled and functioning. Also, find the main supply valve to your plumbing system and verify that it can shut off the water. If anything seems amiss, contact your local plumber or electrician.

Being a homeowner should be a rewarding experience–and you will learn many things along the way. As with any investment, you want to make sure you are doing everything you can so that you may enjoy the things you own. Many agencies that offer homeowners’ insurance also provide products that can help you protect your belongings–including your automobiles. Contact your local agent to learn more about your options.

commercial fleet

Is Your Commercial Auto Insurance Impacted by Your Employees?

Business auto insurance coverage has a lot of gray areas. For example, if an employee runs an errand for their job using their personal vehicle and gets into an accident, which pays out: the employee’s insurance or the company’s?

The truth is that it’s complicated; the answer depends on the extent of the company’s coverage and the circumstances of the accident. That’s why business owners need to understand what they’re paying for when they purchase commercial car and commercial truck insurance in Glendale, AZ.

One common question is whether the employee’s personal insurance has an impact on the business’s insurance, particularly when they are driving a company vehicle. Most personal auto policies have an exclusion stating that there’s no coverage for use of a vehicle furnished or available for the policy holder’s regular use – such as company vehicles. However, if the employee is using their own vehicle on behalf of the business, their personal auto insurance may have an impact.

As you shop around for commercial car and commercial truck insurance, be sure to take into consideration all the potential risks. If you’re unsure how much coverage you need to protect your business, talk to an independent insurance agent for advice.

young professionals looking at a tablet

Insurance Tips for New Business Owners

Starting a business always involves risks. However, it’s also smart business to limit risks whenever possible. That’s where insurance comes in. Here are some tips about protecting your venture with liability insurance in Peoria, AZ.

Don’t Skip Coverage

One of the most common mistakes small business owners make is neglecting to secure any insurance coverage because they don’t want to pay for it. However, these people aren’t considering what not having insurance could cost them. A single bad incident could wipe out your new venture financially if you’re not protected.

Talk to an Independent Insurance Agent

You have a lot of options for liability insurance; an independent insurance agent will help you pick the policy that’s right for your business without bias. Don’t hesitate to ask them questions as you shop around, especially if there are any terms you don’t understand.

Revisit Your Policy as Your Business Grows

Businesses change a lot in the years and months after they first open. That means your risks will change too. When it comes time to renew your policy, take the opportunity to shop around again and ensure all your needs are met. Keep in mind that you don’t have to wait until the designated renewal time to change your liability insurance plan.

insurance agent going over policy

How Do Insurance Premiums Work?

Insurance policies come with a lot of lingo to learn. One important term to understand is “premium.” Simply put, an insurance premium is the amount of money the company will charge for the plan. However, it’s a bit more complicated than that; two people applying for similar policies may be charged radically different amounts. When shopping for plans, work with a qualified insurance company in Peoria, AZ, to ensure you get the best price possible.

How Premiums Are Calculated

Four core components go into calculating your premium: what kind of coverage you’re receiving, how much coverage you’re receiving, your personal information, and local competition.

Insurance coverage comes in many forms, and those forms have different price tags attached. For example, an all-risk home insurance policy will come with a higher premium than a named-perils policy. Likewise, it’s common sense that an insurance company will charge more for more coverage.

The impact of your personal information and your location is where things really get complicated. Everything from your age and occupation to prior claims history and address can affect the premium quotes you receive. Since every company weighs these factors differently, it’s crucial to shop around instead of accepting the first premium you’re offered.

young couple looking over home insurance policy

Saving Money on Your First Homeowners’ Insurance Policy

Buying your first home also means insuring a home for the first time. Get the best deal possible on your policy by doing your research and preparing ahead of time. Here are some tips for saving money when you’re shopping for homeowners’ insurance in Glendale, AZ.

Don’t Wait Until the Last Minute

Shopping for an insurance policy isn’t nearly as exciting as shopping for your dream home. However, make sure you get started early so that you don’t feel pressured to choose the first plan that sounds good. When you wait until the very end of the home buying process, you won’t have as much time (or energy) to do the necessary research for finding the best deal.

Use an Insurance Agent

If you’re like most people, you don’t know much about homeowners’ insurance. An insurance agent, however, has all the industry knowledge you need. With an agent on your side, you’ll not only save time but also you can have greater confidence in your ultimate policy choice.

Establish Your Insurance History

Insurance companies judge you based on how much of a “risk” they think you are. If you have an established no-claims history, you’re more likely to get a good deal. The best way to establish this history is to have renter’s insurance for a few years before buying a home. However, if you lived with someone who had homeowners’ insurance, you may be able to establish a history through their company.

shed

Make Sure Your Homeowners Insurance Covers Your Barn or Shed

Know what is covered by your homeowners insurance in Glendale, AZ. Many people have outbuildings such as sheds, garages, decks, and fences on their property, and they want to ensure these items are covered, should something happen.

The Basic Homeowners Policy

A general homeowners insurance policy will typically include the coverage for outbuildings and other related structures that are a part of your property. But what qualifies as a detached structure that would be included in this type of policy coverage? A structure mustn’t be attached to the home to be covered under this particular classification. Here are some of the types of structures that fall into the “Detached Structures” category of your policy.

  • Detached garages
  • Sheds
  • Pool house
  • Guesthouse
  • Fences
  • Decks
  • Tool Shed
  • Gazebo
  • Swing Set

Types of Outbuildings Not Covered Under the Policy

Homeowners insurance usually covers anything on your property that is not connected but still on your property. But there are exceptions. For example, anything not considered a purely residential structure will not be covered under your homeowners insurance policy. If there is a structure on your property where you house your animals, this will most likely be included in your coverage. However, if you house animals that are sold for profit and part of your business, then you will need to get a separate commercial policy to cover the structure. It’s best to double-check and ensure all buildings are covered by your policy, just in case.

 

 

 

two business people viewing a tablet

Commercial Insurance Coverage

People commonly ask, “What is commercial insurance coverage?”  The answer to that is, like many industries, there are two parts to the insurance industry. One part of the insurance industry is focused on serving the needs of individuals, and this is most often referred to as B2C or “business to consumer.”  But there is also a B2B side to the insurance industry, which is shorthand for “business to business.” This is when businesses provide services and products to other businesses. Commercial insurance in Peoria, AZ, is insurance coverage for businesses, and it is provided by the insurance businesses, which makes it part of the “B2B” sector.

What Commercial Insurance Covers

Keep in mind that commercial insurance coverage isn’t a product per se, rather, it’s a term used to define a specific set of insurance products that are designed to help businesses protect themselves from losses resulting from the risk of operating a business.  For a complete list of commercial insurance products, it’s best to consult with your insurance agent directly, but here are some of the more popular commercial insurance products:

  • Business Liability Insurance Products
  • Commercial General Liability Insurance
  • Commercial Property Insurance
  • E&O / Professional Liability Insurance
insurance concept

Should You Bundle Insurance Policies?

When you’re talking about insurance policies, “bundling” refers to purchasing multiple lines of coverage together, such as auto insurance, home insurance, and more. Contact your local insurance company in Peoria, AZ, to find out all the different policy types that you may bundle up and save some cash on. Here are some other considerations:

Discounts

Almost all insurance companies offer a discount if you purchase combined insurance coverage from them. The amount of money you could save varies depending on the company and the products you choose to bundle. By choosing to bundle your policies with one insurance company, you could save 10% to 20% on each policy.

Convenience

If you buy all your insurance policies from the same company, you will only have to deal with that one company, meaning fewer things for you to manage on your “to-do list.” It can certainly help make life admin easier for you and ensure that you get the best deal in the market.

Deductible Requirement

A “deductible” refers to the amount that you will have to pay when filing an insurance claim with your insurance company. You pay a deductible, and then your insurance company pays the rest of the expense up to the coverage limit. If you need to file a claim of $2,000 and your deductible is $500, then you would pay $500 and your insurance company would pay $1,500. By combining policies, your insurance company may accept one deductible for both your home and vehicle should both be affected by an accident.

young family sitting under a model of a roof

Figuring Out How Much Home Insurance Coverage You Need

In the event of a disaster, you’ll need enough homeowners insurance to rebuild your home, to help replace your belongings, to defray costs if you’re not able to live in your home, and to protect your finances in the event of liability to others. Here are a few guidelines to help determine the coverage you may need.

Determine How Much Insurance You Need For Your Home’s Structure

Standard homeowners insurance in Peoria, AZ, provides coverage for disasters such as damage due to fire, lightning, hail, and explosions. For those who live in areas where there is a risk of flood or earthquake, you will need separate coverage for those disasters as well. In any case, you’ll need the limits on your policy to be high enough to cover the cost of rebuilding your home.

Significant Factors That Could Impact Rebuilding Costs

  • Local Construction Costs
  • The Square Footage of the Structure

For a quick estimate of the amount of homeowners insurance you will need, multiply the total square footage of your home by local, per-square-foot building costs. You can find out construction costs in your community by calling your local real estate agent, builders association, or insurance agent.

Details That Can Impact Home Rebuilding Costs

  • Style of the house (for example, ranch or colonial).
  • Type of exterior wall construction.
  • Number of bathrooms and other rooms.
  • Other structures on the premises such as garages and sheds.
  • Special or unique features such as fireplaces, exterior trim, or arched windows.

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