Buying a new car can be exciting, but getting car insurance for the first time can be a little bit scary if you don't know where to start. If you’re getting car insurance for the first time, here is what you need to know about the policy coverage, terms, and premium. Know the coverage you need. Each state sets its own coverage limits on what is required and optional when it comes to car insurance. Your agent can explain the types of insurance coverage available for you, including options such as liability, comprehensive, collision, and uninsured motorist coverage. If you have an unpaid loan on your car, your lender may have specified requirements. Know what you’re buying. You may be familiar with some car insurance terms, and others may be new to you. Your agent should walk you through those car insurance policies’ ins and outs. Your agent should explain your premium to you (what you pay each month), your deductible (what you are responsible for paying after an accident), exclusions, and your limitations (what does your car insurance covers and what it does not cover), Compare insurance quotes. We recommend contacting multiple companies to determine how much each will […]

The waiting period, also known as the “contestability period”; is one vital aspect of life insurance policies that individuals should be aware of. Waiting periods are a crucial factor in life insurance policies, as they help insurers mitigate the risk of providing coverage to applicants with pre-existing conditions. This post will explore what exactly the waiting period in life insurance is. What is the waiting period? The waiting period is when the insurer can contest a claim or cancel the policy for the policyholder’s misrepresentation or non-disclosure of health information. This period typically ranges from six months to one year, starting when the policy becomes effective. It’s important to note that during the waiting period, the insurer may conduct a thorough investigation to ensure that all information the policyholder provides is accurate and truthful. How To Avoid The Waiting Period It’s impossible to avoid the waiting period in life insurance completely, as it’s a standard practice in the insurance industry to protect insurers from adverse selection. However, there are a few things you can do to shorten or eliminate the waiting period potentially: ● Get a medical exam ● Maintain good health ● Consider alternative coverage ● Choose a policy […]

If your family depends on you for financial support, you need to consider getting a life insurance policy. However, many get a life insurance policy from their employer, which may not be enough to protect their family after they’re gone. To better secure your family’s financial future, consider purchasing supplemental life insurance. What Exactly Is Supplemental Life Insurance? Supplemental life insurance is a kind of insurance policy that provides additional coverage beyond the basic coverage offered by an employer or other group policy. It’s purchased as an individual policy and is more affordable than the primary policy. In addition, supplemental life insurance can provide extra financial protection for your loved ones if something happens to you. Who Should Buy Supplemental Life Insurance? Anyone who wants additional financial protection for his or her family should consider buying supplemental life insurance. This type of insurance can be especially beneficial to people with dependents, such as children, a spouse, or elderly parents. It can also be useful for those with significant debt or financial obligations that must be taken care of after passing away. Benefits Of Supplemental Life Insurance This policy is generally much more affordable than traditional life insurance policies, making it […]

When you are in a car accident, it is crucial to have as many witnesses as possible. Having witnesses can make the difference between getting compensated for your injuries or damages and not getting anything. This is because insurance companies will look at who is liable for the accident and whether or not they think you have a case. If there are no witnesses, they may assume that you are at fault and refuse to pay out on your claim.   If you have been involved in a car accident, ensure you gather as many witness statements as possible. Doing so will determine whether you will lose or win your case. How Do You Find A Witness? Immediately after a car accident, it’s vital to take steps to ensure that you have a strong case when filing an insurance claim. One of the most crucial things you must do after an accident is to find and speak with witnesses at the scene. Try to get their full names and contact information. You can also contact the local police department to see if any witnesses have come forward. You will be in a much better position to win your case by […]

Have you ever wondered what a builder’s risk insurance is and why it’s crucial for your construction or renovation project? This unique insurance, sometimes-called contractor’s all-risk insurance, covers structures while being built or renovated. It’s designed to shield you from financial losses or damages that may arise from various events, including collisions, explosions, pollution, vandalism, hail, high winds, lightning, fire, and other calamities. While getting builder’s risk insurance is not always legally required, having this coverage can offer peace of mind and financial security during your construction or remodeling project. Builder’s Risk Insurance Coverage Builder’s risk insurance can safeguard you from a wide array of potential damages. Some examples include: Natural disasters: Fires, lightning strikes, hailstorms, strong winds, smoke, explosions, collisions, earthquakes, and hurricanes among others. Material damages: Misplaced or defective building materials, project plans or blueprints, and temporary structures like fencing, scaffolding, signs, retaining walls, and trailers. Furthermore, this insurance may cover equipment costs, such as maintaining or purchasing new tools, and financial losses due to project delays relating to rental income, loan interest payments, real estate taxes, or sales revenue. Builder’s Risk Insurance Exclusions It’s essential to remember that builder’s risk coverage won’t cover every aspect of your […]

No matter how large or small your business is, you need business insurance to protect your business from potential risks and liabilities, including property damage, theft, lawsuits, and other unforeseen events that may result in significant financial loss. However, purchasing business insurance is not as simple. Before buying insurance, there are some critical questions to ask yourself to ensure you are getting the right coverage for your specific needs. Here are some essential questions to ask yourself. What Insurance Does My Industry Require? As a business owner, evaluating your unique risks and needs to determine the right insurance coverage for your industry is essential. For instance, if you run a manufacturing business, you may need product liability insurance to protect against claims related to product defects or malfunctions. On the other hand, if you operate a consulting firm, you may need professional liability insurance to cover errors or omissions in your services. Other factors to consider include the size and location of your business and the number of employees that need protection. What Are My Business Most Valuable Assets? You need to identify your business’s most valuable assets to protect them adequately. These assets may include physical property such as […]