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. 

 

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.