If you turn the TV on for 2 seconds you will hear all about you can bundle and save on insurance, and that is a great way to save. For investors this can also be true. Imagine having multiple investment properties on one insurance policy, with one renewal date, one payment. We have several options that can make this a reality.

The first is called the 10+ program. If you have more than 10 properties, we can put all your properties on one commercial policy that makes life easy. This program can include single family homes, apartment units with up to 6 dwellings, condos and manufactured home policies all in one place. You can even have a vacant home or two if they plan to be filled.

The second is a program that can have as few as 1 unit, but as many as you have. This program is a little different than the 10+, and is a great option for investors that are flipping houses on a regular basis.

These programs allow us to save you money and get you great coverage, but almost as important it allows you to simplify your insurance. It’s these programs that allow us to become more than your insurance agent, but a member of your team.

Have questions about your current coverage? Contact us or request a quote on our website.

AUTO INSURANCE MEDICAL PAYMENTS

Medical payments is a simple coverage that is often over looked. Medical payments pays for the reasonable medical expense and funeral services of any “insured” while they are occupying a vehicle, as a pedestrian OR any other person while occupying your insured vehicle.

It is often overlooked as many people say they have health insurance and therefore is a redundant coverage. To that we say, there is a certain logic to that, BUT there are several reasons medical payments makes a lot of sense.

REASONS MEDICAL PAYMENTS MAKES SENSE

  1. While you might have great healthcare, who is getting in your car, and what kind of coverage do they have? Remember medical payments covers anyone occupying your vehicle, so if you car pool or often have non-familial passengers in your car Medical Payments can be extremely important. What if they don’t have health insurance? Medical payments might be the only coverage they have in the event of an accident.
  2. When you are in an accident and the other guy is at-fault, his liability policy will be what kicks in to pay for your medical bills, but what if you are at fault. The only thing to help you with your medical bills may be Medical Payments on your policy.
  3. What is your deductible on your health insurance policy? As healthcare costs have increased many people have increased their deductible and now have HSA plans with $5,000 deductible or higher. Is your heath savings account full funded? If not, medical payments on your auto policy may become a very important “bridge” that can help cover the cost of your health insurance deductible.

So to those that say its redundant we say, maybe think twice. Medical Payments coverage is a very cheap, coverage that can become very important in the event of an accident.

Have questions about your current coverage? Contact our agency. We are here to help you & ensure you have the proper insurance coverage.

According to the most recent statistics provided by the Insurance Information Institute (2012), 11% of driver’s are uninsured in Arizona. That means that just over 1 in 10 drivers don’t have insurance, at all. Nationally that number is closer to about 12%. There are a lot of uninsured motorists! There are probably many more that are under-insured, but until there is an accident, we don’t actually know if a driver had enough insurance. So, long ago insurance companies invented this thing called uninsured and under-insured motorist (UM/UIM) coverage.

Essentially, this coverage is provided by YOUR insurance company to act as if the OTHER GUY had insurance (uninsured) or enough insurance (under-insured) to cover the damage they caused. State laws vary about how this is treated, so we are going to focus on Arizona for a second. In Arizona UM/UIM coverage does not protect your vehicle for the physical damage, if you want that you need Comprehensive and Collision coverage. However, UM/UIM does provide coverage are for your medical bills, loss of earnings, pain, suffering, and other personal injury damages. It also can provide the same coverage if you are a victim of a hit-and-run situation.  UM/UIM is EXTREMELY IMPORTANT; here are 4 reasons why.

  1. It’s a law that it’s offered – In Arizona, UM/UIM, must be offered to clients, and clients must accept or reject this coverage in writing. It is mandatory to purchase liability if you will be driving on public roads, but it is mandatory that UM/UIM must be offered. I believe reasons 2, 3 and 4 explain why.
  2. State minimum limits are too low – Arizona’s state minimum limits are 15/30/10. Meaning that if you get in an accident and the other guy has “just what the state requires” you have a total of $15,000 to cover your medical bills. On a side note, I think that’s about the cost to get a hang nail treated these days, so imagine if you got really hurt.
  3. This coverage is for catastrophic events – There are two types of injuries, those that you take an anti-inflammatory for, and all others. When UM/UIM coverage is triggered its usually because someone was seriously injured in a car accident. Meaning the insurance companies aren’t usually paying out $20 UM/UIM claims.
  4. My Experience – Let me take this personal for a second. My wife has a leg worth 1 million dollars from a boating accident. I know, completely unrelated, or is it? Stick with me for a second. My wife was injured wake boarding. She fell in a very routine manner. In fact, when we came around we asked her if she wanted to go again. She very calmly said she was “broken” and as we looked into the water we understood what she meant. She had dislocated her knee tearing all the ligaments, but one, and was bleeding. She was rushed to the ER, helicoptered to a trauma center, and underwent surgery that night. Long story short she almost lost her leg. She was able to keep it after 8 surgeries. At the time, we had 5 kids. While my wife was in surgery I was left in a waiting room. Understanding the gravity of the situation, I wondered how I would be able to work. How I would keep my Job. How I would be Dad and Mom through recovery and rehab. Our family lives in a rural area. I imagined all the follow up appointments, missed days at work, cost to drive back and forth to the doctors. Now, let’s pretend it was a car accident. Imagine getting a check for $15,000. Yeah, you may have other insurance for that, but health insurance doesn’t cover all the personal injury you know other stuff, but UM/UIM does. Remember UM/UIM covers medical bills, other out-of-pocket expenses, and pain and suffering. That’s HUGE.

WE NEVER KNOW WHAT LIFE HOLDS. MY WIFE IS OKAY, WE ARE BLESSED WITH FAMILY THAT HELPED US, BUT STUFF HAPPENS, AND WE PURCHASE INSURANCE TO PROTECT US. UNINSURED / UNDER-INSURED (UM/UIM) COVERAGE CAN HELP IN THESE CRAZY SITUATIONS, AND WE STRONGLY RECOMMEND YOU PURCHASE IT.

For more information on uninsured or underinsured motorist coverage, contact us!