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6 Things That Can Influence the Cost of Life Insurance Policies in Lisbon

6 Things That Can Influence the Cost of Life Insurance Policies in Lisbon

The cost of life insurance policies in Lisbon differs and depends on several factors.  Sex, medical history, profession, location, and age are a few examples of the factors that are considered. Putting some safeguards in place and eliminating bad habits or improving your lifestyle can result in lower rates.

Common Factors That Can Raise the Cost of Your Life Insurance Policies In Lisbon

Obesity:  On its own, obesity doesn’t result in an increase in premium rates, but because it often results in diabetes and/or heart problems, it is considered a major determining factor when estimating insurance premiums.  If your BMI is even marginally over what is considered to be in a healthy range, the rates for your life insurance policies in Lisbon will reflect this.

Smoking: You may think that you won’t get caught if you lie about smoking when you’re applying for life insurance. However, if you lie to your insurer, your loved ones may be left with nothing. And they don’t typically differentiate – it could be cigarettes, cigars, nicotine-suppression products, or chewing tobacco. An insurer may even consider you a smoker if you use e-cigarettes.

Other medical conditions: Anything that indicates a history of ill health will be negative to your insurance premium.  The appraiser will investigate your family history because some particular ailments like diabetes have been known to pass on through genetic or hereditary means.

Profession: Careers with a higher amount of risk will almost always result in extra fees when purchasing your life insurance policies in Lisbon, but how much will depend on the insurance carrier. An agent can help you select the company that will be most favorable to your career profile. You could also be assigned a table rating, which would elevate your premiums a particular percentage over the standard rate.

Driving records: An individual’s driving record is typically taken into consideration when computing life insurance rates. If the individual has a tendency to violate traffic laws, it is assumed that he or she is a bigger risk in terms of life expectancy and the premium rates will be affected.  The more inoffensive violations (like parking tickets) won’t usually have an effect on your insurance policies in Lisbon, but more serious offenses will.

Extracurricular activities: Many people might question what hobbies and sports have anything to do with life insurance. What we view as enjoyable extracurricular activities, insurers often consider being risk factors. Some hobbies and sports are deemed to be more dangerous than others, and because of this, life insurance companies may take a negative view toward them.

Shopping for insurance can be confusing, but we can help! If you have questions regarding life insurance policies in Lisbon – or would like a quote on new coverage – call us today to schedule a consultation.

Personal Auto Insurance In Alliance: Understanding Your Coverage

Personal Auto Insurance In Alliance: Understanding Your Coverage

Personal auto insurance in Alliance is meant to protect you or another driver in the event of an accident that results in injury or property damage. Choosing the best coverage can be a daunting task, so today we’re discussing the coverage that is mandated by the state, what is often required, and what is optional.

These coverage options are typically priced individually to calculate your monthly premium amount.

Mandatory coverage that is required by nearly every state:

Property Damage Liability: This reimburses other people for damage to a vehicle or property that is caused by you or another person driving your car.

Bodily Injury Liability: This covers costs related to injuries caused by you or another person who is driving your vehicle.

Coverage is typically required.

Medical Payments or Personal Injury Protection (PIP): This coverage provides repayment for medical expenses incurred by you or your passengers. It also reimburses for lost wages and other expenses that are related to the incident.

Uninsured or Underinsured Motorist Coverage: Underinsured motorist coverage takes over when you’re involved in an accident with a driver who is at fault, but whose liability coverage is too low to cover the damages. Their insurance will usually pay for all damages up to the limits of your policy, and then your coverage will reimburse the excess amount up to the limits you select.
On the other hand, insured motorist coverage provides protection if you’re in an accident with an at-fault driver who doesn’t carry and liability insurance.

Optional coverage options:
Comprehensive: Comprehensive insurance covers damage to your car that is the result of events that are not under your control. This includes vandalism, windshield and glass damage, fire, theft. accidents with animals, etc.

Collision: This coverage helps pay to repair or replace your car when damaged in an accident with an object, such as a fence or a tree, or by another vehicle.

Gap Personal Auto Insurance in Alliance
If your car is stolen or totaled, there may be a difference between what you owe on your vehicle and your auto coverage. To protect yourself, you may want to consider purchasing gap insurance to cover the difference.

Who is covered with personal auto insurance in Alliance, and when?
Whether driving your insured car or someone else’s car, your personal auto policy is designed to cover you and any others who are covered on your policy. It also offers coverage if someone who is not on your policy is driving your car with your permission.

Please note: Your personal auto insurance will not cover you if you use your vehicle for commercial purposes or if you provide transportation through a ride-sharing service.

If you have questions regarding your personal auto insurance in Alliance or would like a quote for new coverage, contact us today to schedule a consultation.

4 Tips For Securing Affordable Term Life Insurance Policies In Columbiana

4 Tips For Securing Affordable Term Life Insurance Policies In Columbiana

Whether you’re buying new shoes, or a new car, or just toothpaste, finding a great deal feels like one of life’s little triumphs. And life insurance is no different. Today we’re sharing four tips to help you get affordable term life insurance policies in Columbiana.

Unlike shoes or toothpaste, when it comes to life insurance, you can’t just focus on price, when your family’s financial future could be at stake. Learning about insurance providers, as well as the various types of life insurance policies in Columbiana can be the key to getting great coverage at an affordable price.

With that in mind, we’ve put together some tips to help you find affordable term life insurance that addresses your needs.

Tip #1: Get it while you’re still healthy. The lowest life insurance rates go to the youngest applicants. As you age, the rates will gradually increase. Health also matters because the healthiest people also enjoy the lowest rates. Insurance providers offer the lowest rates to those they determine to have the lowest risk of dying prematurely. Just like with your age, it’s your current health that will determine your rate for the duration of the policy.

Tip #2: Make sure you’re purchasing the right policy for your needs.
Health and age aren’t the only things that matter when you’re searching for affordable life insurance policies in Columbiana. The type of life insurance policy you purchase can have a substantial impact on not only the cost of your premiums but also how much coverage you’ll receive for that money.

Tip #3: Select the right term length and coverage amount from the beginning.
You shouldn’t purchase $1 million in coverage unless you actually need that much, but you also shouldn’t skimp on coverage that’s meant to be your family’s financial safety net. Life insurance companies offer a variety of benefit options so you can choose what is appropriate for your family.
The policy’s term length should also be taken into consideration when acquiring adequate coverage at the best price. If your children will be grown up and no longer financially dependent 20 years from now, a policy covering that period may be the right amount. On the other hand, if you have a 30-year mortgage, significant student loan debts, and a newborn, a longer-term might be needed.

Tip #4: Pay attention to add-ons (riders). In addition to modifying the amount of your coverage, you can also tailor your policy in the form of riders, which are add-ons that address particular situations and may be offered as part of the policy for an added fee.

Permanent life insurance policies in Columbiana offer an even greater selection of riders such as disability insurance. These add-ons can make permanent life insurance, which is already more costly than term life, even more so.

Are you getting a great price on the coverage you need, or have you found a low price on a policy that will either cost you more in the long run or not provide you with sufficient coverage? If it’s the latter, cheaper life insurance can come at an incredibly high price.

Contact us so we can help you get the life insurance policies in Columbiana that you need to properly protect you and your family. We’ll help you identify your needs, and find the best and most affordable solution.

Business Insurance Policies in Boardman: 4 Policies to Consider

Business Insurance Policies in Boardman: 4 Policies to Consider

For a new business owner, there are many things to think about before you open, such as which business insurance policies in Boardman you’ll need to protect yourself and your business.

Why do I need commercial insurance?

The short answer is to protect your property and your savings, both business and personal.

And for certain businesses, being licensed and legally permitted to work requires having particular insurance policies in place. Business insurance policies in Boardman can help cover the expenses of property damage and liability lawsuits.

Covered expenses could include:

  • Attorney fees;
  • Court costs;
  • Settlement and judgments;
  • The cost to repair or replace property.

Do You Need Business Insurance Right Away?

There are a couple of reasons you may want to consider getting commercial insurance when you start a business. The first is that your homeowners’ or renters’ insurance does not provide enough protection, and the second is that it’s generally inexpensive.

If you work from home, chances are your renters’ or homeowners’ insurance won’t cover you for accidents that are business-related. For instance, if a customer visits your home office, slips on something, and sues you for his injuries, your homeowners’ insurance may not help. Business insurance policies in Boardman are designed for these types of scenarios.

4 New Business Insurance Policies in Boardman You Should Consider

When starting a business, these are the four policies that will benefit you the most.

1. Business Owner’s Policy: This is the key player – a Business Owner’s Policy combines the protection of  Property Insurance and General Liability Insurance into one handy, discounted bundle for low-risk small businesses. It can provide coverage for:

  • Third-party lawsuits over property damage;
  • Third-party lawsuits over bodily injury;
  • Immediate medical expenses for third parties injured on your premises;
  • Theft, destruction of your business property, or vandalism, including buildings, supplies, and equipment;
  • Product liability lawsuits.

2.  Errors and Omissions Insurance or Professional Liability Insurance:
These are fundamentally the same policy but referred to by different names in certain industries. This is important insurance if you offer professional services because it provides coverage against claims that you failed to provide adequate service or made mistakes. Professionals that typically carry this coverage include:

  • Engineers;
  • Architects;
  • Consultants;
  • IT professionals;
  • Accountants.

3. Cyber Liability Insurance: This is a rapidly-growing area of worry as more businesses become targets for cybercriminals. If you collect a lot of sensitive information about customers, you may want this coverage in case of a cyber-disaster.

4. Hired and Non-Owned Auto or Commercial Auto Insurance: Just as your homeowners’ insurance probably won’t cover business-related accidents, your personal auto insurance probably isn’t adequate either. If you use a company vehicle – or your personal vehicle is your company vehicle – consider Commercial Auto Insurance. If you rent or lease a vehicle for use or your employees use their personal vehicles for work-related tasks, you might want to look into Hired and Non-Owned Auto Insurance for protection.

This isn’t a comprehensive list of business insurance policies Boardman – just the ones most likely to benefit a new business. Contact us today to discuss which type of exposures your business has and the type of policies you need for protection.

Why You Should Review Your Commercial Insurance Policies in Alliance Each Year

Why You Should Review Your Commercial Insurance Policies in Alliance Each Year

Taking the time to review your commercial insurance policies in Alliance is something you probably think you don’t have time for or just have no interest in doing it. But if you just let it renew automatically each year and don’t have a complete review with your agent, you could be paying too much, be underinsured, and put your business in unforeseen financial risk that it may not be able to survive.

The time when you have to file a claim is the worst possible time to learn that you don’t have enough coverage on your commercial insurance policies in Alliance. Keep in mind that when your business changes, so do your risk.

Here are some examples of how your commercial insurance policy changes as your company change.

Decreasing/increasing the number of employees you have. When there are changes in staffing, it means that’s your workers’ compensation insurance needs to be adjusted accordingly. If you are growing and moving into a larger space or you are downsizing and moving into a smaller space, your commercial insurance policies in Alliance will need to be adjusted.

Adding new commercial vehicles. When you first started your business you probably had just one vehicle that doubled as a work truck and a personal vehicle. But as you grow and have more employees driving and new vehicles were purchased, they would need to be insured through your commercial auto policy. Those vehicles should have been added to your policy when you purchased the vehicle(s) but if some time has passed and your drivers have good driving records, you could be eligible for new deductions.

Your business has grown at a favorable rate. The more work you complete, the more your risks are elevated. You should increase your liability coverage so you don’t pay more out if someone is using your company or an injury occurs on your property.

Major changes in ownership. If a partner quits or passes away, you are bringing in a new partner, or when ownership changes in any way, your policy needs to be updated to add/remove names on the policy so that no one is hit with unexpected liability.

You’ve started using subcontractors. It’s important to be aware of your legal liabilities to your subcontractors and in the case of any injury, you could be at risk. Make sure that the subcontractors you use have their own insurance policy so that they are responsible for any damage and/or injury that may happen so you won’t be responsible for the costs incurred.

We realize that dealing with insurance can feel like a chore and you probably don’t look forward to it. But keep in mind that conducting at least a review of your commercial insurance policies in Alliance annually can help you save money in the long run in the event of claims due to the adjusted/added protection it offers. Also, as your business changes, you may be eligible for larger discounts that will help your bottom line.

If you haven’t conducted a comprehensive review of your commercial insurance policies in Alliance this year, please contact our office today and our agents will be happy to explore how we can better protect your business.

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