5 Common Mistakes People Make When Purchasing Home Insurance

Homeowners insurance is an integral part of any home purchase. It protects the homeowner against potential disasters, like fire or vandalism. But many people make some common mistakes when shopping for this type of coverage that can lead to being underinsured and not having enough protection if something goes wrong. Read on to learn more about homeowners’ five common mistakes when purchasing home insurance.

1. Not Getting Enough Coverage

One of the people’s most common mistakes when buying home insurance is not getting enough coverage. They either don’t purchase enough coverage or let their policy lapse and are underinsured. It’s essential to ensure you have enough coverage to protect your home and belongings in an unforeseen disaster.

2. Not Understanding What’s Covered

Another mistake people make is not understanding what their policy covers. Home insurance policies have different levels of coverage, so it’s important to know what you’re getting. Some policies will cover damage from fire, theft, and natural disasters, while others may only cover one or two of these things. Make sure you understand the coverage levels of your policy so you know what’s included.

3. Not Shopping Around

People also sometimes make the mistake of not shopping around for home insurance. They either stay with the same company they’ve always had or accept the first quote they get. But it’s important to compare rates and coverage from different companies to ensure you’re getting the best deal.

4. Not Reviewing Your Policy Regularly

Even if you have an excellent home insurance policy, it’s important to review it regularly to make sure it still meets your needs. As your life changes, your coverage may need to change as well. For example, if you get married or have a child, you may need to increase your coverage. Or, if you move to a new home, you may need to adjust your policy accordingly.

5. Thinking it Covers Flooding

One final mistake people make is thinking their home insurance policy will cover flooding. But most policies don’t cover this type of damage, so it’s vital to purchase separate flood insurance if you live in an area prone to flooding.

Home Insurance is critical, but as you have seen, people make some common mistakes. Luckily, San Marcos Insurance Group is here to help you find the best possible home insurance policy for your needs in Chandler, AZ. We understand that shopping for home insurance can be confusing and overwhelming, but we’re here to help. Contact us today to learn more about our services or get a free quote.

How Do I Choose the Right Auto Insurance?

When you purchase a new car, the first thing on your mind is likely to get auto insurance. But unfortunately, there are many different auto insurance policies out there, and each one has its strengths and weaknesses. Here are some tips to help you choose the right auto insurance policy for your needs.

1. Determine What Type of Coverage You Need

The first step in choosing the right auto insurance policy is determining what coverage you need. Here are some of the standard policies you can purchase.

Liability insurance covers damage to other people or property if you are at fault for an accident. It is the most basic type of auto insurance and is required by law in most states.

Collision insurance covers damage to your vehicle in the event of an accident. It is not required by law, but lenders often require it if you have a loan or lease on your car.

Comprehensive insurance covers damage to your vehicle from events other than accidents, such as fire, theft, or vandalism. This type of coverage is not required by law, but it can give you peace of mind knowing that your vehicle is covered against these perils.

2. Decide How Much Coverage You Need

Once you know what types of coverage you need, you need to decide how much coverage to buy. The amount of coverage you need will depend on several factors, including the value of your vehicle, your driving history, and your financial situation.

3. Deducible

Your deducible is the amount of money you will have to pay out-of-pocket before your insurance company starts to pay for a covered claim. A higher deducible means a lower premium, but it also means more financial responsibility if you have an accident.

Get Auto Insurance in Chandler, AZ 

Now that you know what to look for in an auto insurance policy, it’s time to start shopping around. San Marcos Insurance Group can help you find the right policy for your needs and budget. Give us a call today to learn more or to request a quote.

 

The Basics of Life Insurance: What You Need To Know

When it comes to life insurance, there are many things to know to make the best decision for you and your loved ones. Here are the basics of life insurance, i.e., what you need to know to get started.

What Is It?

Life insurance is a contract between you and an insurance company in its simplest form. You pay premiums, and the insurer agrees to pay a sum of money to your beneficiaries upon your death.

The money can help cover final expenses, debts, and other costs that your loved ones would have to bear after you’re gone.

What Are the Different Types of Life Insurance?

There are three main types of life insurance: term, whole-life, and universal-life.

Term life insurance

It’s the most basic and well-known type of life insurance. It is also the simplest to understand – you pay premiums for a set period, usually 10, 20, or 30 years. If you die during that period, your beneficiaries receive a death benefit. If you outlive the policy term, it expires, and you are no longer covered.

Whole-life insurance

This type of life insurance covers you for your entire life. The policy pays out a death benefit to your beneficiaries when you die. Whole life insurance also has a cash value component, which means that the policy builds up cash value over time. You can borrow against the policy’s cash value or even cash it out entirely if you need to.

Universal-life insurance

This is a type of whole life insurance, but with more flexibility. The premiums and death benefits can be adjusted to fit your needs, and the cash value grows at a variable rate.

Benefits of Having Life Insurance

The death benefit is the primary benefit of having life insurance. But there are other advantages as well.

For example, whole-life and universal-life policies have a cash value component that can be accessed while you’re alive. This can be used as an emergency fund or for other expenses.

Get Life Insurance in Chandler, AZ

These are the basics of life insurance. It’s important to understand the different types and how they work in order to make the best decision for you and your family. If you have any questions, speak with a professional at San Marcos Insurance Group in Chandler, AZ. We’re here to help.

Protect your commercial fleet with a comprehensive policy

When it comes to commercial insurance coverage, Chandler, AZ area business owners can rely on San Marcos Insurance Group. When transportation is a big part of your business, keeping your fleet protected is very important. We can help you with all of your commercial insurance needs, including coverage for your vehicles.

Keep your commercial fleet protected

If you count on your vehicle fleet to get the job done, you need to know that it is protected. Don’t find out after it’s too late that you didn’t have the coverage you needed. 

Any damage to your commercial vehicles can cause a huge impact on your firm’s ability to do business. You need to know that you will have options in place if any part of your fleet is rendered inoperable due to a covered event. With the right insurance in place, you can enjoy features like reimbursement for replacement vehicles while yours are off the road.

And, if any part of your fleet is totaled or stolen, or otherwise needs to be replaced, you will want to have protection in place. Because of all of these reasons and more, it is important to carefully review your insurance needs and options. You don’t want to think that you had a particular type of coverage only to find out that your policy does not include it. With the right policy in place, you can focus on your core business!

Count on us for all of your commercial insurance needs

Chandler, AZ area business owners can turn to the team at San Marcos Insurance Group for all of their insurance needs. We are here to help you keep your business protected! Give us a call today and schedule your consultation. We look forward to working with you!

Why You Should Increase Your Life Insurance Policy

Life insurance is important if you will be leaving anyone behind upon your passing. Of course, you can’t simply buy a life insurance policy and forget all about it. This is because some of the changes that occur in your life will warrant another look at your policy and a potential increase in coverage. San Marcos Insurance Group, serving Chandler, AZ, wants to share a few instances when you may need to increase your coverage.

When You Are Financially Responsible for an Ill Loved One

If you have a family member who you are taking care of medically and financially due to them becoming seriously ill, you may want to consider increasing your life insurance premiums. Think about it: who would take care of them if you pass away? Adding a cushion to your insurance policy will help ensure they are properly taken care of upon your passing in terms of medication, treatment, and even long-term medical care.

When You Get a Significant Raise at Work or Change Jobs

When you first purchased your life insurance policy, you likely took into account your income at the time. If your income has significantly changed since then, such as from a considerable raise or changing jobs, you may want to consider an upgrade in your current coverage. In doing so, you can ensure that your family is able to live within the same means they are living now even after you have passed on.

When You Have a New Child

Regardless of whether you are having your first child or your fourth child, a priority of yours should always be ensuring they are provided for. Increasing your life insurance coverage when a child is on the way is a good way to ensure your family does not have to deal with any financial burdens when they should be spending their time grieving your loss. Life insurance can help your family with day-to-day expenses, funeral costs, childcare, education, and more. 

If you are dealing with a situation that may warrant an upgrade to your life insurance policy, contact the agents at San Marcos Insurance Group, serving Chandler, AZ.

3 Things You Didn’t Know That Health Savings Accounts Often Cover

If your health insurance plan comes with a health savings account, you may be curious as to how you can use these funds. An HSA is specifically designed for those with higher deductibles, and these funds can be used for a number of different expenses. San Marcos Insurance Group wants to share some of these with Chandler, AZ residents so they can know what to expect.

Dental Fillings

It doesn’t take long for dental work–even the simple procedures–to add up. For instance, you are probably out a few hundred dollars just to fill one cavity. The good news is that your health savings account plan will foot the bill.

Corrective Eyewear

The funds in your HSA can help to cover the cost of prescription eyewear. It should cover the cost of eyeglasses or contact lenses. The money in this plan can also be used to cover vision fees, copays, and more that may not be covered by your standard health insurance policy or separate vision insurance policy.

Breastfeeding Supplies

Your health savings plan account can reimburse you for the money you spend on breastfeeding supplies, such as pumps, nursing bras, gel pads, and more. To ensure you are eligible for reimbursement, make sure to save the receipts from purchase. At the same time, you should speak to your health insurance agent ahead of time to obtain a list of items that are covered under the plan.

If you would like to learn more about health insurance and health savings accounts, reach out to San Marcos Insurance Group, an insurance company that serves Chandler, AZ and surrounding areas. 

4 Things You Should Never Keep in Your Car and 1 Thing You Should

Your vehicle can handle a lot of things, such as extreme temperatures. Unfortunately, the items that you leave inside of your vehicle aren’t so lucky. You know you shouldn’t keep food in the car, but you may not be as familiar with some of the less-obvious items. For Chandler, AZ car owners, San Marcos Insurance Group shares a few things you shouldn’t keep in your vehicle, especially when the temperatures are excruciating outside.

What You Shouldn’t Keep in Your Vehicle

Children and Pets

For some, this one may be obvious. For others, well, it may not be. Children and pets should never be left in a vehicle. During the summer, it only takes an hour or less for the car’s cabin to spike about 50 degrees higher than the temperature outside. This type of heat is fatal. During the winter, there is a risk of hypothermia, especially for children, pets, and the elderly.

Electronics

Any kind of electronic, from smartphones to laptops, cannot withstand extreme temperatures. These kinds of temperatures can reduce battery life and damage the processors. Plus, it makes your vehicle more vulnerable to vandalism and theft, especially if those electronics are visible from outside.

Sunscreen and Medications

Extreme temperatures can cause the active ingredients in medications and sunscreen to break down. Because of this, these items can become ineffective. Therefore, for your health and safety, keep any medications and sunscreen inside your home.

Plastic Water Bottles

You may not give much thought to your plastic water bottles, but as the temperatures rise, chemicals from the plastic can seep into the water in the bottles. While it is true that most bottles are BPA-free now, it is important to keep plastic bottles cool, as there are other potentially harmful chemicals that could be present. Ideally, you should opt for a refillable bottle.

What You Should Keep in Your Vehicle

Proof of Auto Insurance

The one thing you should always keep in your vehicle is proof of your auto insurance. This is to ensure you can provide it to the authorities if you are pulled over and avoid a ticket and to share with another motorist if you’re in an accident.

If you are currently in need of auto insurance coverage in Chandler, AZ, reach out to San Marcos Insurance Group.

Commercial Insurance Options to Consider as a Winery

Although incredibly fun and rewarding, owning and operating a vineyard and winery can be a bit complex. One reason for this is the potential risks that you face with your business. With that being said, it is important to speak with an insurance agent at San Marcos Insurance Group to ensure you have the proper commercial business protection for your Chandler, AZ winery.

Liability Insurance

This kind of insurance is great for wineries, as well as all other businesses, as it is designed to protect you from court expenses that stem from a potential lawsuit from a customer. Many businesses tend to overlook the importance of liability protection but consider a few things. 

What would you do if an individual slips and falls while in the wine tasting room? Or if a customer claims a health problem cropped up after consuming your wine? Liability insurance will protect you in these instances.

Crop Insurance

When you’re making wine, you also have grapes that you must take care of and pick. These grapes, the butter of your business, need sufficient protection in the event of a disaster. When it comes to your grapes, there are so many different things you have to consider, including insect infestations, vine infections, and natural disasters. By investing in crop insurance, you will be able to recoup some of your losses.

Equipment Insurance

Just as you have grapes to make wine, you also have equipment. For instance, if you are a bigger business, you may have a grape harvesting machine so you don’t have to hand-pick the grapes yourself. In the event this equipment breaks down, will you be able to cover the cost of repair or replacement with no problem? Your insurance agent can help you identify the exact type of equipment insurance you need to ensure you are protected.

Whether you are a new winery or a seasoned business in Chandler, AZ, San Marcos Insurance Group can take care of you. Contact us today to discuss specifics.

Do I Need Home Insurance?

Although there is no law requiring homeowners to carry insurance, purchasing a house is likely to be the largest investment anyone makes so having coverage is a no-brainer. While it is true that homeowners insurance is not required by law, if you are purchasing a home with a mortgage then it is highly likely that the mortgage company will require you to have insurance before financing the purchase.

When shopping for homeowners insurance, you’ll want a policy that covers rebuilding or repairing your house and other structures on your property like a shed or garage, after a covered loss. In addition, look for a policy that helps pay to replace your belongings if they are damaged in a covered loss, lodging if you are displaced due to a fire, natural disaster, or other incident and legal bills if a visitor or tradesperson is injured while at your home. Generally, a homeowners policy does not cover earthquakes or floods and you may be required to purchase additional insurance policies if you are in an area prone to one of those natural disasters.

Begin looking for homeowners insurance once you have signed the contract to purchase a home. Waiting till this point will likely allow you about a month to find the right insurance company and have a policy in place. At San Marcos Insurance Group in Chandler, AZ we specialize in homeowners insurance and can assist in customizing a policy that meets your needs.

Whether you are buying your first home or moving to Chandler, AZ for retirement, San Marcos Insurance Group wants to help. Give us a call today or stop by our conveniently located office to schedule an initial conversation with one of our talented insurance professionals. 

What Does Collision Auto Insurance Really Cover in Alabama

When you have a car in Arizona, you will carry the minimum requirements for auto insurance which is your bodily injury liability and your property liability. You may also be considering collision auto insurance. 

At San Marcos Insurance Group, we want Chandler, AZ residents to be covered in auto insurance as thoroughly as possible. Collision insurance is a good idea. We can help you to get the best coverage for your needs.

Learn more about what collision insurance covers here.

What Collision Insurance Covers

When you have a vehicle and are in an accident, collision insurance will cover the cost to replace or repair your vehicle if it is damaged. If you have a deductible on your policy, you will pay that amount first when you file a claim.

A deductible is the amount that you agree to pay to the insurance company before they will cover your damages. This is an amount set at the time you purchase your coverage.

After that, your collision insurance typically does cover the rest.

This coverage can be used when you collide with another car, an object, or are even in a single-car accident where you are the only vehicle. 

You can file a claim for the damages to your vehicle, and for your medical costs as well. 

If there is another party that is liable for the accident, they will cover some of these costs as well. Your insurance company will work with you to determine how much you will be responsible for and cover your damages accordingly.

Get a Quote

You may think you don’t need collision insurance, but you might think of it when it is too late. Get it before then. At San Marcos Insurance Group, we want Chandler, AZ drivers to be protected on the roads. Call us for a quote to update your Arizona auto insurance policy today.