Monthly Archives: December 2013

How do I protect my business if I die or become disabled in Green Valley, Arizona?

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Owning your own business offers you a lot of flexibility in your lifestyle. You can work when, where, and how you want. But, what would happen in the event of your death or a serious disability?

There are two types of insurance policies that every small business owner should consider purchasing: life and disability.

Life insurance is designed to protect your assets after your death. Having a policy could help your business operate until it is either sold or a replacement for you is found. This can often take weeks or months, so having a policy is important. This type of insurance can also help cover any debts owed by the business, which would be passed on to your family after your death. Life insurance can also help a your family pay for everyday expenses that are no longer covered by the income from your company.

Disability insurance is available in short term and long term policies. This type of insurance is similar to life insurance, but different in that it pays out if you are seriously ill or injured and unable to work. Funds from this type of policy can be used to help run the business or take care of everyday expenses.

As you can see, both insurance policy types are incredibly important. Each business owner will have different needs in terms of the amounts of each policy, which an independent agent can help you decide.

As your local independent agent, we would be happy to speak with you about your business insurance and other commercial insurance needs. Tucson, Sahuarita, Green Valley, and other Southern Arizona business owners can contact us via telephone today.

If we are without power due to winter storm, will Green Valley, Arizona homeowners insurance cover a hotel for us to stay-in until the power is restored?

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While it is not very likely that you will get a big snow storm in Sahuarita or Tucson, Arizona, it is not uncommon to get a winter storm with strong winds and rain in the Green Valley area of the state. If one of those winter storms should strike and knock out all your power, you may want to pack up the family and find temporary lodging in a nearby hotel.

Living without electricity is certainly an inconvenience, but in most circumstances, your Arizona home insurance policy will not cover the cost of your hotel room. Most homeowners policies do contain a provision, or you can add a rider, that will provide reimbursement for loss due to an extended power outage. You may be compensated for food spoilage and even for damage to your electronic equipment.

However, each home insurance policy and provider is different. While one insurance company might be more lenient and cover the costs of a hotel room after 24 hours without electricity, another might not honor a claim until 5 days have passed since you first were without power.

Personal circumstances, such as having a sick or elderly parent in the home may be taken into consideration by your home insurance provider. If you, or someone in your household relies on electricity to operate important medical equipment, your circumstances may be considered serious enough to get reimbursed for the cost of a hotel room.

It is important to review your insurance policy before a situation arises where you might need to temporarily move away from your home. If you have any questions about these matters, please give us a call. An independent agent will be able to answer your questions and possibly add a rider to your current home insurance policy to provide this extra protection.

My landlord claims that I have damaged the apartment and is keeping a part of my security deposit. Will the Green Valley, Arizona renters insurance cover this loss?

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Buying renters insurance for your Green Valley, Arizona apartment is almost always a good idea. Renters insurance is very affordable and it will help cover damage or loss to your personal possessions.

If someone breaks into your apartment in Sahuarita and steals your television and laptop computer, you can file a claim with your insurance company. If you suffer a kitchen fire in the apartment you are renting in Tucson, renters insurance will compensate you for your burnt curtains and any other personal contents in your home. Appliances that came with the apartment are usually covered by the landlord’s insurance policy, but may also be covered by your renters insurance.

When your lease ends or you vacate your apartment for some other reason, you are entitled to get your security back from the landlord. As long as there is no damage to your apartment, beyond normal wear-and-tear, you usually will have your deposit returned within a week or two after vacating the apartment.

Your landlord is permitted to keep part or all of your security deposit if you damaged the apartment beyond the general definition of normal wear-and-tear. If, for instance, you put a bunch of holes in the wall, or your dog had a few accidents on the carpet, a part of your security deposit may be used by the landlord to make the repairs and clean the carpet.

Your renters insurance does not cover any damage you do to the apartment. You can not use it to pay for the damage so you get all of your security back. To find out more about renters insurance, please give us a call. An independent agent can answer any questions you may have and find you a very affordable policy.

Difference Between Insurance Score and Credit Score in Green Valley, Arizona

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When you are looking for insurance in Green Valley, Arizona, you may wonder about the differences between scoring measurements. Although a credit score may seem straightforward and simple, in many cases it is confused with other numbers. An insurance score is not the same because it considers more than just the risk of late payments.

Credit Rating

A credit rating and score is developed by your history of making payments, the debts that you owe and similar financial data. Although the credit score is part of determining your how you score when looking for insurance, it is only one factor. The credit rating is based solely on your financial history, which is not enough to determine the full extent of the potential risks you pose to the insurer.

Insurance Scores

An insurance score is not the same as your credit rating. Although your credit rating is part of the score, it is a small part. The insurance score will also factor in your driving record, any claims you have made on your insurance in the past and the potential risks you may face based on statistical data and any further records that you may have.

Factors like a DUI charge, filing a claim or facing a lawsuit that is paid by your insurer due to liability protection are all part of your score. The credit rating and your financial history is a small part of the scoring process because it helps determine the risk that you may pay your premium late.

Ultimately, insurance scores are more comprehensive than a credit rating because it factors in more data about your potential risks. If you want to learn more about the scoring process, then contact us today to talk to an independent agent.