What Are Other Structures and When Should You Ensure They Are Covered By Your Homeowners Insurance Policy?

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At San Marcos Insurance Group, serving the greater Chandler, AZ, we are committed to helping homeowners find the right home insurance policies for their needs. One of the best ways to do this is by answering homeowners’ questions about their policies. We are often asked what other structures mean in a home insurance policy and why it is vital to ensure your homeowners’ insurance policy covers your other structures. Read on to get the answer to this question. 

What Are Other Structures? 

Regarding home insurance, other structures refer to the structures on your property that may not be attached directly to your home. Some examples of different structures include detached garages, sheds, barns, gazebos, pools, hot tubs, driveways, sidewalks, fences, and permanently installed or anchored docks. 

Why Is It Important to Ensure Your Policy Covers Other Structures? 

Most home insurance policies cover other structures, but not all of them do. As such, it is important to review your policy and find out if other structures are included or excluded from your policy. If your policy excludes them, you may have to pay out of pocket if an unexpected event damages these structures. Reviewing your policy helps you to understand what is and is not covered. 

If you have other structures on your property and are unsure if they are covered, the San Marcos Insurance Group team, serving the greater Chandler, AZ area, can help you determine if they are covered. If they are not covered, we can help you find a home insurance policy that covers them. Call or email us today to schedule an appointment to discuss your home insurance policy. 

What auto insurance is required in Chandler, AZ?

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Auto insurance is more than a necessity. It’s the law. Like most other states, Arizona has minimum auto insurance mandates that all drivers must meet. Failing to provide even the most essential coverage can result in fines or suspensions of driving privileges. Getting behind the wheel without insurance isn’t worth the risk.

Fortunately, San Marcos Insurance Group can help. Located in Chandler, AZ, their agents list three items that every auto insurance policy must include.

Bodily injury liability

All drivers in The Copper State must carry liability coverage. Bodily injury liability reimburses any expenses related to physical harm caused by an accident. The state requires each driver to have at least $25,000 in bodily injury liability for a single person. By law, a total of $50,000 is needed per accident.

Property damage liability

As the name implies, this liability applies to a person’s possessions. While vehicular damage is included, it safeguards against destroying mailboxes, fences, sheds, and other structures. Arizona drivers must have a minimum of $15,000 property damage liability per accident.

Uninsured and underinsured motorist coverage

As a "comparative fault" state, you could get stuck footing the bill for an accident, even if another driver has inadequate coverage. That’s where uninsured motorist protection kicks in. It doesn’t matter if you are partially or fully responsible for a collision. This extra protection fills in the gaps. Although this is added to most policies, Arizona residents can choose to opt out if they do so in writing.

Contact an agent serving Chandler, AZ.

Even though these items will keep you compliant with state laws, the minimum coverage is rarely enough. San Marcos Insurance Group goes beyond these requirements to find a policy that protects you and your family. Call to schedule an appointment today.

How Often Do I Need To Renew My Commercial Insurance Policy?

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Most commercial insurance companies require that you have your policy updated annually. It’s a good idea to stay on top of things by contacting your insurance broker, keeping your policy in order, and renewing your policy as soon as possible. For inquiries and guidance in Chandler, AZ, discuss with San Marcos Insurance Group. 

Commercial Insurance Policy Renewal 

Commercial insurance policies typically have a term between 3 and 5 years. If you don’t renew your policy by the end of its term, you may be subject to several penalties. Among other things, your business may experience a drop in coverage levels, be subject to a higher renewal rate, or even face the possibility of being dropped from the policy altogether. 

Contact your insurance provider before the policy’s end date to avoid these scenarios. Confirm that they will be offering your company coverage for the following year. 

Commercial insurance policies are typically for a term of one year. However, depending on the type of coverage, it may be wise to keep your policy for the long term. For example, if you have a property insurance policy, it is generally smart to keep that policy for the term of your mortgage. 

Even if your business purchases a policy that lasts for one year, it may be advisable to buy a policy that lasts three years or longer. The risk of a claim occurring within the first year of the policy’s start date may be higher than purchasing a policy that lasts longer. 

You can get a commercial insurance policy with a term of less than a year. However, the length of the policy may vary depending on the risk being covered. For example, a three-month term may be sufficient for covering inventory, while a one-year period may be sufficient for protecting significant assets like machinery. 

Key Takeaways 

Most commercial insurance policies have a term of between 3 and 5 years, but it depends on the type of policy and the insurer. You should always check with your broker or insurer to see when your policy ends and what happens at that point. Contact San Marcos Insurance Group to seek help in Chandler, AZ.

What Are The Benefits Of Having Health Insurance?

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Having health insurance can help protect you from high medical bills and give you access to quality medical care if you ever need it. You can access it through your employer or purchase it from a health insurance broker. 

Many people purchase health insurance to have peace of mind. You won’t have to worry about how to pay bills or how much health care you can get. For expert help, confer with San Marcos Insurance Group in Chandler, AZ. 

Much More about Health Insurance 

If you don’t have any health insurance, then you are at risk of not being able to receive the medical attention that you need if you are sick or injured. Not only is it essential to have health insurance, but you should also make sure that you choose the right plan that fits your needs and budget. 

There are many different plans, and you must know precisely what you are getting with your coverage. Health insurance will protect you from high medical bills if you ever need to see a doctor. It will also help you with the quality of care to visit a specialist. 

When you’re admitted into the hospital, it offers the right help. It will also help you receive proper treatment if you ever need to undergo a long recovery process. Being healthy is essential for your overall quality of life, but protecting your financial well-being is also important. 

In the event of a severe health problem or accident, health insurance can help you receive the medical attention you need and the financial assistance you may need to cover expenses such as a hefty medical bill. 

Bottom Line 

Most uninsured people don’t qualify for financial assistance through government programs such as Medicare or Medicaid or coverage through their employer. 

Even some people who qualify for government programs may find coverage costs too high, especially if they are self-employed. For assistance, check with San Marcos Insurance Group in Chandler, AZ.

Demystifying Common Myths About Auto Insurance

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Auto insurance in America dates back to the late 19th century and has become a billion-dollar industry. Since insurance has been around for so long, many myths have cropped up over the years, and they can cloud your judgment when shopping for a policy. For that reason, you need the help of a knowledgeable agent like San Marcos Insurance Group of Chandler, AZ to help you separate facts from myths.

Myth#1: Color affects the insurance premium

You will hear this many times — the red color attracts high insurance rates. Perhaps it’s because of the notion that owners of red cars are likely to drive fast, hence being categorized as risky drivers. None of this is true because the color isn’t one of the factors that determine your insurance rate. Your insurance doesn’t even know the color of your car.

Myth#2: Comprehensive coverage covers all risks

Perhaps because of its name, many think comprehensive coverage offers protection against all risks. The reality is that your comprehensive coverage only covers your car against non-collision risks only. This means comprehensive coverage protects your vehicle against risks like fire, theft, falling objects, and natural disasters. However, collision risks aren’t part of this coverage. Plus, you have to buy policies like liability coverage and PIP to cover yourself against other risks.

Myth#3: Auto insurance covers theft of personal items in your car

Unless you have an add-on, your standard car insurance policy won’t cover theft or damage of personal items in your car. You must rely on your home or renters insurance policy for such incidents.

Don’t fall into the trap of car insurance myths. Instead, consult with an insurance agent like San Marcos Insurance Group to ensure you have the right information to make an informed decision.

Does Home Insurance Cover Pet Damage?

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Pets are fun, aren’t they? Pets provide companionship and light up our days when everything else is stressful. While pets are exciting, sometimes they can land you in trouble by causing damage or injuries. But is pet damage covered by your home insurance? San Marcos Insurance Group has the answer.

When your home insurance won’t cover pet damage

If your pet rips through your expensive sofa or chips a large section of your drywall, the damage isn’t covered by your standard home insurance. Similarly, if your pet injures you or someone in your family, any claim for medical costs is likely to be voided by your home insurance provider.

When a pet lives with you, your insurer assumes you are in complete control of the situation. So, when your pet damages your structure, electronics, or furniture, the damage is assumed to be inflicted by the owner.

When your home insurance covers pet damage

If you have liability coverage in your home insurance, the policy should cover you when your pet causes damage or injury to others. When your pet bites someone, they could sue you to get compensated for medical costs incurred treating the injury. In such a case, your home insurance should cover third-party claims.

While most home insurance policies provide liability protection of $100,000, we advise our clients to increase the limit for optimal protection. Plus, we recommend umbrella insurance or excess liability coverage if your assets are nearing the million-dollar mark.

Home insurance in Chandler, AZ 

Home insurance covers your building and the contents inside. It also pays for additional living expenses when your home is rendered unlivable. Your home insurance also covers you against liability claims, such as pet damage. If you would like to get this protection from home insurance, please get in touch with San Marcos Insurance Group for an affordable quote.

What you need to know about managed care before you choose your health insurance

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Every year you have to make the same tough decision, choosing your health insurance. It is so complicated that the terms are mostly unintelligible, and then you need to understand what managed care is. It is not easy or fun. At San Marcos Insurance Group in Chandler, AZ, we want to make this decision easier for you. Our experienced team is here to help with information and advice. 

These days, most healthcare is managed, at least to some degree. There are three basic types of health policies offered: HMO. PPO and PPS. They are all a little different in how they approach management, and it is vital that you understand what you can expect from each. The network is those providers who have contracted to work with the carrier. 

HMO (Health Maintenance Organizations)

With an HMO, you will have to choose a primary care physician in charge of your care. Usually, it would be best to use providers within the network, except in the case of an emergency. 

PPO (Preferred Providers Organizations)

If you are considering a PPO, you will have more flexibility regarding your choice of providers. You don’t need to choose a primary care physician, and if your provider is outside of the network, you may pay a higher fee for service, but you can go outside the network.  

POS (Point of Service)

A POS plan is a combination of an HMO and a PPO. You choose a primary care physician from within the network, but you are allowed to get care outside of the network for a higher charge. It will be the same if you are sent to that care by a referral from your primary care. 

In Chandler, AZ,  you can count on San Marcos Insurance Group to be there with the help you need. Call us for a no-obligation quote. 

Do I Need Commercial Insurance If I Work From Home?

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Over the last couple of years, the number of people who run their businesses from home has ballooned. As a home-based business owner, the dilemma of whether you need commercial insurance for your business has been lingering in your mind.

Do You Need Commercial Insurance if You Run a Home-Based Business? 

Yes, you do since your homeowners’ or renter’s insurance policies don’t cover home-based businesses. Commercial property insurance protects your business’s property and physical assets against unfortunate events like theft, fires, and natural disasters. As a home-based business owner in Chandler, AZ, the commercial property insurance likely covers items like:

  • Signage
  • The building that houses the business
  • Inventory in stock
  • Phone systems, computers, furniture, and other office equipment
  • Vital company documents
  • Accounting records

Is There Additional Business Coverage I Need for My Home-Based Business?

Commercial property insurance is not enough if you want maximum protection for your home-based business. Here are some additional business coverages that we at San Marcos Insurance Group recommend:

  • Business liability insurance – to protect your business when clients and other visitors come to your home for business reasons and suffer property damage or personal injury
  • Professional liability insurance – to protect your business in the event of claims based on failure to deliver and negligence, especially if you are a consultant.
  • Product liability insurance – to protect your home-based business’s manufacturing and sales from damages to property or persons caused by your products
  • Commercial auto insurance – It provides coverage to your vehicle when using it for business purposes. Your personal auto insurance policy doesn’t cover loss or damage to your vehicle related to business use.

Get Commercial Insurance for Your Home-Based Business in Chandler, AZ

At San Marcos Insurance Group, we are motivated to protect your home-based business and promote its success by providing suitable and unbeatable commercial insurance policies. Contact us to request a quote.

5 Common Mistakes People Make When Purchasing Home Insurance

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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?

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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.