homeowners insurance

4 Times You’ll Use Your Homeowners Insurance

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Have you ever heard the term “hope for the best but plan for the worst”? That term sums up exactly what homeowners insurance does. This insurance helps you plan for the worst situations while always hoping for the best. According to the Insurance Institute, about 5% of homeowners filed claims in 2019. Let’s take a look at the four times you’ll use your homeowners insurance and be glad you had the option.

1. Natural Disaster

The number of natural disasters and the severity of those disasters have increased over the last decade. You no longer must live in a “tornado alley” or a “hurricane zone” to experience a natural disaster. A rain event with high winds can send a tree crashing through your home. After suffering a natural disaster, one of the first things a homeowner does is call their insurance company. Home insurance is responsible for dealing with the fallout and damage from a natural disaster.

2. Theft

It can be devastating to come home and find our home was broken into while you were away. The damage and the loss can make you emotional, and the last thing you need is to worry about replacement costs. Luckily if you have homeowners’ insurance that covers theft, you can rest easy knowing the costs are covered. While it will still take you a little while to recover from such a violation, knowing that you don’t have to pay all the costs can make everything easier.

3. Fire

There are about 350,000 house fires annually in the United States, according to the Fire Protection Association. A house fire can be devastating, and it can take hundreds of thousands of dollars to recover from a large house fire. If it weren’t for homeowners insurance, many people wouldn’t be able to recover. In the case of a house fire, one of the first calls you make will be to your insurance company, so you can feel peace of mind.

4. Vandalism

What happens if people vandalize your property? Vandalism may be a covered incident, so it’s important to call your insurance company to discuss the repair costs as soon as possible.

Homeowners insurance can help you prepare for everything life can throw at you. Get to know your policy today and see if you need to make changes to your coverage to ensure you’re ready for anything by reaching out to us.

insurance agency

What Vehicles Can an Insurance Agency Cover?

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As many as 215 million Americans have car insurance, according to Bankrate. If you’re uninsured, you should start looking into insurance agencies. You may be wondering what types of vehicles an insurance agency can cover. Let’s take a look at the three common types of vehicles an agency can cover.

Motorcycles

Insuring a motorcycle can be cheaper than insuring a car, but it still depends on the insurance agency. Some insurance agencies specialize in motorcycle coverage, so they may have better rates. You may also get a discount if you insure your motorcycle and your car with the same agency. The average cost of motorcycle coverage is $519 per year, according to the Insurance Information Institute, which is a great price.

Watercraft

Watercraft insurance is similar to coverage for a car or motorcycle. A small boat may cost around $200 per year to insure, while a larger boat may cost closer to $1,000 per year. You may also get a discount if you insure multiple watercraft with the same insurance agency, so it’s worth it to ask about discounts. The type of boat will also affect your coverage rate, so be sure to ask about different rates for different boats.

Cars

The rates for a car depend on the insurance agency, the make and model of the car, and the driver’s driving record. A new sports car will have higher rates than an older sedan. A driver with a clean driving record will usually pay less for a plan than a driver with accidents or speeding tickets on their record.

When you’re looking for coverage, it’s important to compare rates from different agencies. You may get a discount if you bundle insurance policies, such as car and home insurance. Remember, the insurance agency you choose can make a big difference in the price you pay for protection. Get in touch with us today to learn all about our insurance plans for different vehicles.

Why You Need Home Insurance on a Mortgage

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Homeowners insurance covers the damage or loss of your home or any asset damage inside your home. Generally, this type of insurance is designed to restore the initial value of your home after unexpected damage. Additionally, home insurance covers the mortgage lender.

For this reason, when applying for a mortgage, your lender will require proof that you’ve secured homeowners insurance before releasing funds. The good news is that most homeowners have insurance policies. According to the Insurance Information Institute, 93% of homeowners in the U.S. have homeowners insurance. You have no reason to be the odd one out. In any case, one in 20 homes file for a claim annually. Having home insurance means you’ll afford repair bills in case of an accident.

Let’s look at why it’s a requisite to get homeowners insurance on your mortgage.

Financial Capability to Pay Your Loan In Case of Catastrophic Damage

Suppose your home is destroyed by a catastrophic event such as a hurricane and you haven’t insured your mortgage. In this case, you’ll still be required to clear out your loan by your insurer and deal with your property loss. This situation can be overwhelming, and there is a likelihood that you won’t have the financial muscle to continue servicing the debt. However, with home insurance, your property will be covered in case of such a catastrophe. This means you’ll proceed with your mortgage payments as usual.

Your Home Will Be Insured of the Replacement Cost

Most lenders will need your home insured for 100% of the replacement cost. The aim is to ensure that in case of a disaster, your home will be rebuilt to completion, putting you back in the same financial position as before the disaster. It’s a guarantee that you’ll have a reason to continue servicing your mortgage.

Areas your homeowners insurance covers that you probably didn’t know include:

  • Personal Property Coverage
  • Dwelling Coverage
  • Personal Liability Coverage
  • Guest Medical Protection
  • Structure Coverage

When a catastrophic event occurs and completely wipes out your house, homeowners insurance on your mortgage ensures you get back on your feet. Your home will be rebuilt, and you can continue paying your mortgage normally. Call AOAWest today to get a quote for home insurance coverage.

classic car insurance

Important Things You Should Know About Car Insurance

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Even for seasoned drivers, car insurance may be confusing. You may simply sign up for whichever insurance your agent or financial institution suggests to avoid the headache. Here are a few things you should know when you choose new car insurance.

Liability Has Limits

Some people only carry auto liability insurance because that’s the only type mandated by state laws. However, you have options when it comes to the amount of liability coverage, and if you only opt for the minimum liability coverage, it may not be enough to cover the other person’s vehicle, property, or medical bills after a serious crash.

For example, 25/50 liability coverage is common. This covers $25,000 in damages for each person involved, for a total of $50,000. If a crash involves multiple other people or vehicles, that liability insurance won’t go very far. Fortunately, you can typically upgrade your liability insurance.

Of course, liability doesn’t cover the driver’s own damages and medical costs, which may be why the National Highway Safety Administration estimates upwards of 10 million auto collisions go unreported every year. This is why getting the right classic car insurance is important for those who value their investments.

Finance and Lease Companies Offer It

Although drivers may only be required to hold liability insurance, they may have to add comprehensive and collision insurance to obtain a loan or enter into a lease for a vehicle. These additional types of insurance pay for injuries to yourself or your passengers and damage to your vehicle in the event of a collision during the rental.

A Higher Deductible May Be Worth It

Finding the right passenger car insurance plan for you is a balance between cost and protection. One way to strike that balance is by considering your monthly premiums and your deductible when you file an insurance claim. If you have a good driving record, you might be comfortable paying a higher deductible because you may never have to file a claim.

You May Want Gap Coverage

When buying a new car, you may have the option for gap coverage. This type of insurance covers the difference between what insurance will cover if you total a car and how much you owe on your loan. For some drivers, gap coverage is worth it because a car’s value drops as soon as you drive it off the lot. And although you can’t get gap coverage for a vintage car, classic car insurance can ensure you receive the full value when filing a claim.

With this information, you should feel ready to choose insurance. When you need a motorcycle or classic car insurance, give us a call at AOAWest today. We’ll be happy to help you find the right plan for your vehicle!

home insurance

Should You Get Homeowners Insurance as First Time Buyers?

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Most first-time homeowners ignore the importance of having insurance cover their house. A home is probably one of the most expensive assets you can buy in a lifetime. Therefore, insuring your house is not mandatory, but it’s highly recommended. Here are some of the reasons why a house owner may need insurance.

For Security Purposes

According to Policygenius, in 2019 more than 5% of house owners filed home insurance claims. Accidents are bound to happen in the house. For instance, if your house is not properly insulated, it may catch fire and burn down. The cost of rebuilding may make it impossible for you to complete the project. If you have your house insured, you will get your house rebuilt with the help of the home insurance policy.

Acts as a Cushion

Numerous insurance covers depend on the location. For instance, in places that experience destructive seasonal winds, having a home insurance company cover your roofing is a good idea. The insurance covers all the necessary roof repairs in case of such calamities. Natural hazards and disasters may cause massive damage and, at times, may require building from the foundation. With given policies, you can quickly rebuild your house to the roof with the help of home insurance.

It Helps You Worry Less

Having an insurance policy at your side keeps your mind at ease. You can easily concentrate on other things instead of worrying about accidents or break-ins that may happen when you are away. Living with no fear of the future promotes a healthy and better life.

Compensation in Case of Damage

Insurance policies can cover different parts of the home, much like your health insurance. For instance, you may have a policy that covers your house against natural disasters, a fire, or water leakage into the house. The policy you choose may depend on the probability of the accident happening. Some policies also cover two to three areas of insurance. Ensure to check what your policy covers to avoid frustrations if an accident happens. It’s necessary to have more than one policy covering your house to increase house safety. If accidents within the policy occur, the home insurance company estimates the damage value and pays.

If it’s your first time owning a home, you may note that it’s not necessary to have homeowners insurance, but it’s safer and logical to have one. Insurance will help you deal with any damage that may result from accidents in the house, a natural accident that may result in considerable damage, and a considerable budget for repairs. You’ll also be at ease knowing that your house is safe in case of a burglary. To get started with your policy, call us today at AOAWest. We’ll provide more information about the best home insurance cover for your home.

5 Benefits of Having Homeowners Insurance

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Being a homeowner is a wonderful thing; it frees a person from having to worry about rent, and you can proudly bask in the achievement. That said, many homeowners don’t consider getting home insurance. Homeowners insurance is a type of insurance coverage homeowners should consider, as it covers damage and losses to one’s home. Below are five benefits that come with adopting a homeowners insurance package.

1. Protects the Main Structure

A homeowners insurance policy’s primary purpose is to safeguard your principal residence, which is the section of your home that you live in. For example, you would suffer a significant financial loss if you do not have homeowners insurance and suffer a house fire or a natural disaster such as a hurricane. It is preferable to insure your home for up to 100% of its value. Nevertheless, insurance coverage of up to 80-90% is commonplace. Most of these plans cover catastrophic damage, minor damage, and entire replacement expenses.

2. Covers Your Gadgets

Many homeowners do not keep an inventory of their possessions. In fact, according to Policy Genius, only 49% of homeowners keep a house inventory of their belongings! When insurance for homes is purchased, you should list all appliances, gadgets, and other personal items the policy covers. If a covered event, such as a hurricane or tornado, damages some of your property, you may be compensated in part or in full depending on the specifics of your policy. This is a significant benefit of this type of insurance that many homeowners ignore.

3. Provides Coverage Inexpensively

Some individuals may view home insurance as unnecessary, but it provides significant relief if an unexpected tragedy occurs. The benefits of the coverage much surpass the investment you make. You can always opt for more basic coverage, too.

4. Protects from Lawsuits

Insurance for homes provides coverage for property-related claims depending on your coverage. Your home insurance will protect you if you mistakenly damage another person’s property, such as in a fire or with mechanical damage. It also covers the medical costs of a visitor who is hurt on your property.

5. Provides Peace of Mind

A homeowners policy gives significant relief. You don’t have to constantly worry about facing the costs of damage to your property. Home insurance coverage may be advantageous whether you own a big house or a little one. After you’ve selected your policy and paid the premium, you can relax knowing that your home’s security is no longer your major responsibility.

Insurance for homes is beneficial for the reasons examined above. If you’re a homeowner who has yet to insure your home, consider doing it immediately. Do you want to insure your home from future risk? Contact AOAWest today!

homeowners insurance

The Pros of Getting Homeowners Insurance Early On

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Are you in the market to buy a house shortly? If so, you must do your research on homeowners insurance. This will help you figure out when you need to get it! Whether you’re a first-time home buyer or you need new insurance for your new home, it’s beneficial to know the pros of getting it early on.

Gives You Ample Time to Compare Different Coverages

It is recommended that you start looking for home insurance about a month before your actual closing date. This ensures that you will have the time to research and compare different types of coverage for your beloved new home. There are different kinds of rates for different locations and the cost could go up or down based on your home’s value, so that’s why it’s so important to give yourself time to find the insurance that fits your needs and budget.

Ensures Your Closing Date Will Stay the Same

When you are in the motion of buying a house, it is well known that you need to have your homeowners insurance policy in place by the closing date. If you don’t, you could be delaying the closing. This not only affects you but also the buyers and real estate agents. So, you should get everything set up and ensure it will be in effect by the closing date. Disclose the closing date with your insurance center to make sure they know when it should be in effect by.

Allows the Process to Go Smoothly

The process of buying a house can be stressful for all parties involved with all of the paperwork and deadlines that need to be met. As a soon-to-be homeowner, the last thing you want to do is scramble around last minute trying to find the right home insurance coverage. Being prepared early on can ensure that the entire closing process is smooth and that you won’t have to worry about a thing.

Buying a home doesn’t need to be stressful if you are prepared for all of the requirements needed. According to Policygenius, 93% of homeowners have insurance for homes. Getting the right homeowners insurance can keep your home and family safe from many different unexpected events. If you are a first-time home buyer or you are planning on switching your homeowners insurance policy, reach out to us today to speak with an insurance agency for more information.

insurance agencies

Why You Shouldn’t Skimp On Car Insurance

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Car insurance is one of the most important investments you can make for yourself and your family. According to Statista, in 2018, over 34 thousand people died, 1.8 million people were injured, and five million vehicles were involved in property damage accidents. Below are some of the reasons why you shouldn’t skimp on car insurance.

1. Protection in Case of an Accident

Insurance agencies play an important role in providing protection in case of an accident. They act as a buffer between you and the other party involved in the accident and can help to cover the costs of damages and injuries. While it is possible to get by without insurance, it is not advisable. If you are involved in an accident, repairs and medical treatment costs can quickly add up, and you may find yourself unable to pay them. Insurance can help to reduce the financial burden in such a situation, and it is, therefore, essential to make sure that you have adequate coverage. Skimping on insurance may seem like a good way to save money, but it could end up costing you more in the long run.

2. It Is Required by Law

In most states, it is mandatory to have some form of car insurance. If you are caught driving without insurance, you could be fined or even lose your license. Not having insurance can also make it difficult to get insurance in the future. Insurance companies view drivers who have been caught driving without insurance as high-risk customers and, as a result, will charge them higher premiums. It is, therefore, important to make sure that you are properly insured before you get behind the wheel.

3. It Offers Peace of Mind

Knowing that you are properly insured can give you peace of mind in case of an accident. With the right level of coverage, you will know that you are protected financially in the event of an accident. This can help to reduce your stress in such a situation and allow you to focus on getting better instead. Whether you already have adequate insurance or need to get additional coverage, be sure that you take the time to compare different policies and choose the one that offers the best value for your money.

Looking for car insurance can seem like a daunting task, especially with so many options available. However, with some research and careful consideration, it is possible to find the right policy for your needs at an affordable price. Do your research today and invest in quality car insurance for peace of mind on the road. For more information on car insurance, contact our insurance agencies today.

insurance agency

The Importance of Reporting Car Accidents

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A report given by the National Highway Traffic Administration reveals that over 10 million cars that get involved in road carnage go unreported. But what most people know is that it is essential to record your statement with the police in case your car gets into an accident as soon as you can. It will aid you if you decide to file a claim with an insurance agency firm since you will have a record. If you don’t record a statement with the police, you can not have any claim processed for you.

What is a Police Report?

It is a document that police use to record who was involved, what happened, the damage, and other crucial things after an accident. The composition may be single or multiple pages depending on the accident.

What Information is Found in a Police Report?

The information that can be obtained from the police report includes the place where an accident occurred, the date and time of the accident, car registration details, and whether there is a person who sustained some injuries. Additionally, you can also obtain information regarding whether there are some parts of the cars that are not damaged and the statements of people that were at the accident scene.

What is the Importance of Reporting a Car Accident?

In the Case of Injuries That Occur After An Accident

Suppose you get any form of injury after an accident. It’s only a police report that can determine that, indeed, the injuries were a result of the accident.

It is Essential When Making A Claim

Any insurance agency company will ask you to produce a police report when you decide to claim your car after an accident.

In The Case of Car Damage After An Accident

After an accident, your car might not seem to be damaged, but it can develop some issues later on. It is only a police report that can help you to claim it afterward. If you don’t produce a police report, no car insurance agency will compensate you.

How Can You Report An Accident, And After How Long?

If there were no police at the scene of an accident, you could make an effort to visit the nearest police station and record a statement.

You can make the statement immediately or within 28 days from the day, the accident took place.

insurance center

Why Do You Need Car Insurance?

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When it comes to car insurance, there are a lot of myths and misconceptions floating around. Some people think that they don’t need car insurance if they have a low-value vehicle or that only young people need to worry about it. Others think that car insurance is a waste of money and can’t afford it. In this post, we’re going to dispel some of these myths and explain why you need car insurance, no matter who you are or what kind of car you drive.

1. Car Insurance Is Required by Law in Most States

Car insurance is required by law in most states. In fact, in many states, you can’t even register your car without proof of insurance. This means that if you get into an accident and you don’t have car insurance, you could end up facing some serious legal penalties.

2. Car Insurance Provides Financial Protection in the Event of an Accident

If you get into an accident and you don’t have car insurance, you could be responsible for paying for all of the damage yourself. This could end up costing you thousands or even tens of thousands of dollars. Car insurance protects you from having to pay this money out of your own pocket. It also covers you if you are sued by the other driver in an accident.

3. Car Insurance Can Help You Save Money on Repair Costs

If you get into a car accident and your car is damaged, repairs can be expensive. Car insurance can help you save money on these costs. However, you need to ensure that you have the right kind of coverage. This could either be collision coverage that will help pay for the repairs to your car in case of an accident or comprehensive coverage that will help pay for damages caused by theft or vandalism.

4. Car Insurance Can Help You Get Back on the Road Quicker After an Accident

If you get into a car accident and your car is damaged, you may have to wait a while for it to be repaired. Car insurance can help you get back on the road quicker by providing you with a rental car while your car is being repaired. However, this coverage only applies if you have the right kind of coverage. Visit an insurance center to learn more about this.

According to Bankrate, around 215 million drivers in the country have vehicle insurance. This shows that insurance is not only important but that a majority of drivers see the value in it. Don’t be one of the drivers who go without insurance. Visit the insurance center today and find the right policy for your car.