Personal Insurance Products
AUTO
What Is Auto Insurance?
Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium, and the insurance company agrees to pay your losses as defined in your policy.
Auto insurance provides property, liability, and medical coverage:
- Property coverage pays for damage to or theft of your car.
- Liability coverage pays for your legal responsibility to others for bodily injury or property damage.
- Medical coverage pays for the cost of treating injuries, rehabilitation, and sometimes lost wages and funeral expenses.
An auto insurance policy is comprised of six different kinds of coverage. Most states require you to buy some, but not all, of these coverages. If you're financing a car, your lender may also have requirements.
Most auto policies are for six months or a year. Your insurance company should notify you by mail when it's time to renew the policy and to pay your premium.
Why Do You Need Auto Insurance?
It's really all about protecting yourself financially.
- If you're in an accident or your car is stolen, it costs money, often a lot of money, to fix or replace it.
- If you or any passengers are injured in an accident, medical costs can be extremely expensive.
- If you or your car is responsible for damage or injury to others, you may be sued for much more than you're worth.
- Not only is having insurance a prudent financial decision, but many states also require you to have at least some coverage.
Questions to Ask Your Agent
Your Independent Agent is an advocate for finding auto insurance that meets your specific needs. Here are a few things to consider as you prepare for the discussion:
- How much can you afford to pay if you get in an accident? (To keep premiums low, you may want to have a higher deductible and be willing to pay more for repairs.)
- What is the insurance company's level of service and ability to pay claims?
- What discounts are available? (Ask about good drivers multiple policies, and student discounts.)
- What's the procedure for filing and settling a claim? (Ask whom to call and what happens after you file a claim.)
HOME
What is Homeowners Insurance?
Homeowners’ insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.
Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.
Damage caused by most disasters is covered, but there are exceptions. The most significant are damage caused by floods, earthquakes, and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners' responsibility.
Why Do You Need Homeowners Insurance?
It is really all about protecting yourself financially if something unexpected happens to your home or possessions. That's important because chances are your home is likely one of your largest investments.
- If your home was destroyed by fire or damaged by a natural disaster, you'd need money to repair or replace it.
- If a guest in your home is injured, liability protection and medical coverage help pay expenses.
- If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.
- If you are still paying for your home, your lender will require insurance. It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent to talk about what is covered, and be sure to read your policy, so you know exactly what's included and what is not.
Things to Consider and Questions to Ask Your Agent
Here are a few things to discuss with your agent that will influence your decisions.
- How much will it cost to rebuild my house and replace my belongings if they are damaged or destroyed? (Ask your agent to talk you through your home's features and the things you own so you can make an informed decision about coverage.)
- Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
- What discounts are available? (Ask about multiple policies, security systems, and fire resistance discounts.)
- What's the process for filing and settling a claim? (Ask whom to call and what happens after you file a claim.)
BUSINESS
Business & Commercial Insurance Information
As a business owner, you need the same kinds of insurance coverages for the car you use in your business as you do for a car used for personal travel -- liability, collision, and comprehensive medical payments (known as personal injury protection in some states) and coverage for uninsured motorists. In fact, many business people use the same vehicle for both business and pleasure. If the vehicle is owned by the business, make sure the name of the business appears on the policy as the "principal insured" rather than your name. This will avoid possible confusion in the event that you need to file a claim or a claim is filed against you.
Whether you need to buy a business auto insurance policy will depend on the kind of driving you do. A good insurance agent will ask you many details about how you use vehicles in your business, who will be driving them, and whether employees if you have them, are likely to be driving their own cars for your business.
While the major coverages are the same, a business auto policy differs from a personal auto policy in many technical respects. Ask your insurance agent to explain all the differences and options.
General Liability
If you have a personal umbrella liability policy, there's generally an exclusion for business-related liability. Make sure you have sufficient auto liability coverage.
Unfortunately for every business owner, the chances of getting sued have dramatically increased in the last decade. General Liability insurance can prevent a legal suit from turning into a financial disaster by providing financial protection in case your business is ever sued or held legally responsible for some injury or damage.
General Liability pays losses arising from real or alleged bodily injury, property damage, or personal injury on your business premises or arising from your operations.
Broad Range of General Liability Protection
- Bodily Injury, including the cost of care, the loss of services, and the restitution for any death that results from injury.
- Property Damage coverage for the physical damage to property of others or the loss of use of that property.
- Products-Completed Operations provides liability protection (damages and legal expenses up to your policy's limit) if an injury ever resulted from something your company made or a service your company provided.
- Products Liability is a more specialized product liability insurance that protects your company against lawsuits from product-related injury or accidents.
Contractual Liability extends to any liability you may assume by entering into a variety of contracts. - Other coverage includes: Reasonable Use of Force; Borrowed Equipment; Liquor Liability; Non-Owned Vehicles (such as aircraft and watercraft); Fire, Lightning, or Explosion Damage; Water Damage Liability Protection; Legal Defense Costs; Medical Payments; Personal Injury; Advertising Injury; and specialized liability protection for specific business types.
Workers Compensation
Workers' compensation laws were created to ensure that employees who are injured on the job are provided with fixed monetary awards. This eliminates the need for litigation and creates an easier process for the employee. It also helps control the financial risks for employers since many states limit the amount an injured employee can recover from an employer.
Workers Compensation Insurance is designed to help companies pay for these benefits. As a protection for employees, most states require that employers carry some form of Workers' Compensation Insurance. Workers Compensation Insurance is not health insurance. Workers' Compensation is designed specifically for injuries sustained on the job.
In most states, if you have employees, you are required to carry Worker's Compensation coverage. Even in non-mandatory states, it can be a very good idea, particularly if you have many employees or if they are engaged in hazardous activities.
Do I Need Workers’ Compensation Insurance?
Employers have a legal responsibility to their employees to make the workplace safe. However, accidents happen even when every reasonable safety measure has been taken.
To protect employers from lawsuits resulting from workplace accidents and to provide medical care and compensation for lost income to employees hurt in workplace accidents, in almost every state, businesses are required to buy workers' compensation insurance. Workers' compensation insurance covers workers injured on the job, whether they're hurt on the workplace premises or elsewhere, or in auto accidents while on business. It also covers work-related illnesses.
Workers' compensation provides payments to injured workers, without regard to who was at fault in the accident, for time lost from work, and for medical and rehabilitation services. It also provides death benefits to surviving spouses and dependents.
Each state has different laws governing the amount and duration of lost income benefits, the provision of medical and rehabilitation services, and how the system is administered. For example, in most states, there are regulations that cover whether the worker or employer can choose the doctor who treats the injuries and how disputes about benefits are resolved.
Workers' compensation insurance must be bought as a separate policy. Although in-home business and business owners policies (BOPs) are sold as package policies, they don't include coverage for workers' injuries.
LIFE
Life Insurance Information
There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance.
Term insurance is designed to meet temporary needs. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.
In contrast, permanent insurance provides lifelong protection. As long as you pay the premiums and no loans, withdrawals, or surrenders are taken, the full face amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.
It's impossible to say which type of life insurance is better because the kind of coverage that's right for you depends on your unique circumstances and financial goals.
But remember, the best way to figure out the amount and type of life insurance that makes sense for your particular situation is to meet with a qualified and licensed life insurance professional.
MEDICARE
Medicare Information
What is Medicare?
Medicare is a fee-for-service health care program for seniors, in which the government pays health care providers directly for services that fall under Parts A and B of Medicare benefits (see below). However, if you are looking for more coverage than Original Medicare, you can purchase one of our Medicare Advantage Plans to receive all your Part A and Part B benefits.1
Medicare is divided into four categories. This allows you to customize your personal coverage when shopping for a comprehensive policy.
- Part A (hospital insurance): Covers hospital care, emergency services, nursing home care, home health services, and hospice.
- Part B (medical insurance): Covers medically necessary services and supplies used for diagnosing and treating medical conditions and preventative services for illness prevention and early detection. Examples include ambulance services, mental health care, outpatient procedures, and clinical research.
- Part C: Combines Parts A and B and often part D as well.
- Part D: Offers prescription drug coverage.
What Are Medicare Options Available?
Original Medicare offers coverage for services and supplies that are considered to be medically necessary, such as doctor visits, lab tests, and wheelchairs. There are several alternative plans you can choose from for additional coverage, and each plan must offer at least the same coverage as Original Medicare. There are two Medicare plans that we can assist you with.
- A Medicare Advantage Plan, also known as Part C, combines Part A and Part B as a replacement to Medicare for more comprehensive health care coverage. This plan in Nevada may include additional coverage, such as a prescription drug program (Part D), vision, dental transportation, hearing, gym membership, and much more.
- A Medicare Supplemental Plan, also known as Medigap, has a higher premium but supplements the coverage gaps and deductibles that Part A and Part B leave behind.
Why Do You Need Medicare?
Seniors are in the most need of health care, but once retired, monthly premiums can become hard to maintain. Enrolling in the Medicare program allows you to get the care you need for a minimal charge.
We conduct a Free, No Obligation individual analysis to determine the best Medicare plan option specifically for you! Contact us today to learn more about coverage options.
1 - This is not a complete listing of plans available in your service area. For a complete listing, please contact 1-800-MEDICARE (TTY users should call +1 (877) 486-2048), 24 hours a day/7, days a week, or consult www.medicare.gov.
Medicare has neither reviewed nor endorsed this information.
OTHER SERVICES
Recreational Vehicle Insurance Information
Recreational vehicles do more than just carry you from one place to another; they transport you with an eye toward maximum fun and comfort along the way. Just because some of these vehicles are associated with playtime, that doesn't mean they don't need the same insurance protection as any other piece of expensive property you own. In fact, they may need more insurance since they also create a potential for liabilities.
Liability Insurance for Recreational Vehicles
Your recreational vehicle is, just like an automobile, a moving vehicle that can cause bodily injury and property damage to others. In order to help pay for any damage you inadvertently inflict, you should secure liability insurance. This policy can also help cover the cost of environmental cleanup after an accident that causes the spillage of a toxic chemical or another pollutant.
Liability coverage will have limits that work on both a per-incident and per-policy basis. They may also have a deductible that requires an out-of-pocket contribution for each incident or year.
Property Coverage
After you've considered the potential liabilities you are exposed to while operating a recreational vehicle, it's time to secure coverage for the value of the vehicle itself. Recreational vehicle coverage can include financial compensation in the event of physical damage, vandalism, theft, and collision. In addition, your policy may allow for reimbursement of personal effects stored on a vehicle such as an RV, boat, or snowmobile.
In some cases, you may want to consider adding specialized coverage for additional risks, including the loss or damage of awnings and custom equipment. If you have an RV that you live in part or full time, you may need extended protection, so be sure to discuss that with your agent.