When is the best time to buy Life insurance?

Posted on April 30, 2020May 1, 2020 by admin

We all have our preferences when it comes to life insurance. If you have no dependents like a wife, children, parents, young siblings, or grandparents, life insurance for you may not be a priority. However, if you are in a condition where you could impose financial hardship on others, then you should think critically about life insurance. At The Insurance House, we recommend buying life insurance as early as possible when you have fewer responsibilities. So, when should you get yourself a life insurance policy? Let’s find out.

You are getting married soon or just got married

Now that you are no longer single, it is essential to start planning on building long-term financial security with your partner. Marriage is full of responsibilities; you want to make sure that both you and your spouse are financially secure when one of you is no longer there.

You are planning to have children or just welcomed one

If you are thinking of enlarging the family, you should also think about their future and how you can safeguard it. Think about their health, education, shelter, and expenses, can they sustain themselves once you are gone? Life insurance can help take care of this, even if your spouse is working. Therefore, as you pay attention to a new home or a new car, think about life insurance.

You just became a homeowner or will soon be

One of the most fulfilling financial experiences is owning a home. Are you planning to buy or build a house in Tucson, AZ? Well, congratulations in advance! However, think about a scenario when your paycheck disappears, and you have no income to sustain your family or just discovered you have a severe health condition that commands a lot of money to be treated. Life insurance is an excellent way to sort your troubles.

As we have seen, different lifestyle changes call for different insurance needs. An insurance expert at The Insurance House in Tucson, AZ can help find a policy that is professionally customized to fit your needs and budget. Contact us today!

What Is Bond Insurance and Who Buys It?

Posted on March 30, 2020March 30, 2020 by admin

When you need to guarantee bonds issued by your company, bond insurance provides investors with the confidence needed to back your debt restructuring. To learn more about bond insurance, contact The Insurance House in Tucson, AZ. In the meantime, keep reading to learn what bond insurance is and whether it suits your business needs.

What Is Bond Insurance?

Bond insurance guarantees the repayment of the principal as well as interest to bondholders. It takes effect if the bond issuer, who purchases the insurance, defaults on the debt. Bond issuers buy insurance to improve their credit rating. This typically lowers the interest they have to pay on the debt. It also makes the bonds attractive to investors.

Asset-backed securities and municipal bonds often have bond insurance on them.

How Bond Insurance Works

The creditworthiness of the issuer affects the rating of bonds. Riskier issuers receive a lower credit rating. In order to get a better rating that results in lower interest rates, companies purchase bond insurance. This makes it easier to find investors. The insurance company assesses the risk of the company when it sets the premiums for the bond insurance.

Other Considerations

Bond insurers tend to issue securities only to companies with invest-grade underlying ratings — with underlying credit ratings between BBB and AAA. If the bond issuer defaults, the investor shouldn’t experience a disruption. The role of the bond insurer is to make principal and interest payments owed to investors going forward.

To learn more about how to purchase bond insurance for your company or organization, contact The Insurance House. Set up an appointment to talk to your agent about whether bond insurance is a good investment for your business in Tucson, AZ.

Umbrella Insurance Coverage: Luxury or Need?

Posted on February 28, 2020February 28, 2020 by admin

Insurance is designed to protect your most important assets, such as your home, vehicle, boat, and other valuables. When purchasing your policies, don’t underestimate the coverage that umbrella insurance has to offer. Umbrella insurance provides extra liability protection to safeguard your assets against accidents at home or on the road. Here’s what an umbrella policy from The Insurance House in Tucson, AZ has to offer.

How Does Umbrella Insurance Work?

Umbrella insurance is additional liability insurance on top of your auto, home or renter’s liability coverage. In fact, you cannot purchase an umbrella policy unless you have other liability coverage already in place.

Liability insurance pays for injuries or damage to others in accidents that are your fault. Standard home, auto, boat or renter’s liability insurance has limits for the protection it provides. If you cause an accident where injuries or damage exceeds these limits, umbrella insurance will cover excess costs. Umbrella insurance kicks in where your other liability coverage leaves off, protecting your assets against financial loss.

Who Can Benefit from Umbrella Coverage?

If you’re wondering if umbrella insurance is for you, imagine the consequences of being sued for a mishap at home or on the road. A major lawsuit could deplete your savings or retirement funds or force you to sell your home in an effort to cover legal or settlement costs. Umbrella insurance protects these and other financial assets such as investment accounts or future income against unforeseen accidents that can lead to financial ruin. If you have substantial assets, you can greatly benefit from the protection that umbrella insurance has to offer.

To learn more about umbrella insurance or to obtain an umbrella policy, call or visit us at The Insurance House in Tucson, AZ. We’ll help you determine the amount and scope of coverage you need to protect your assets.

Avoid These Common Winter Auto Claims

Posted on January 28, 2020January 28, 2020 by admin

Winter weather means snow, ice, and other challenges when you travel out of the temperate Tuscon area. If you are heading out to a part of the country that may present winter weather hazards, take precautions to avoid these common winter auto claims. These tips from The Insurance House can help protect your car and, perhaps, your safety.

1. Ice on the roads

Ice is actually more dangerous on the road than snow. Be sure that your tires are in good shape and properly inflated before you head out. If you know that the roads are icy, stay well below the speed limit to stay safe. If you hit a slick patch and start skidding, don’t slam on your brakes or jerk the steering wheel. Instead, just ease off the gas and gently steer into the skid.

2. Falling branches and tree limbs

Tree limbs and branches can become weighed down by snow and ice. Avoid parking your car underneath trees if at all possible to prevent tree branches from falling on your car.

3. Collisions

When driving in snow and ice, you don’t only need to look out for yourself, you have to watch for other people as well. Pay close attention to other drivers and allow for extra stopping distance between your car and those of others. Stay well under the speed limit and be extra attentive in icy intersections to avoid collisions with other drivers.

Despite your best efforts, sometimes things happen that are out of your control. If you have a winter weather-related problem with your car and you need to file a claim, contact the helpful folks at The Insurance House in Tuscon, Arizona. We will be glad to answer your questions and help you file a claim.

What doesn’t home insurance cover?

Posted on November 18, 2019November 18, 2019 by admin

When you own a home, having a good home insurance policy is a must. You may think that you are protected against anything that can happen to your home when you have insurance. In Tuscon, AZ, like other places across the country, there are a few things that your home insurance doesn’t cover. At The Insurance House, we have the expertise to help you to choose the perfect home policy for your home and your budget.

Home insurance doesn’t cover

Owner Neglect
Termite damage
Flood water
Mudslides
Earthquake
Sink Holes
Sewer backup
Expensive Jewelry

Owner neglect covers many issues. If your roof leaks because it was neglected, you are at fault, and your home insurance won’t reimburse you for the damage caused to your home.

Termite damage is the result of homeowner neglect and won’t be covered either.

Floods are one of the most damaging things that can happen to your home, and you need to purchase separate National Flood Insurance to protect your home.

Mudslides are often the result of earth movement, which is another name for an earthquake, which is not a covered event.

Sinkholes have become common in some areas, and they are usually not covered under a basic home policy. You may, however, be able to buy an additional add-on to your policy.

Sewer back up is not covered under standard home insurance. A few companies do offer an endorsement for an additional premium, and if this is something that could happen, it is worth looking into.

Expensive jewelry is not covered with your home insurance. The amount that they will pay for jewelry is typically about $1500. If you own some high-priced pieces, you should consider a jewelry rider to protect you from theft or damage.

Homeowners in Tuscon, AZ are lucky to have The Insurance House and their experienced staff to help walk them through the complicated world of home insurance. Stop by or give our office a call for a no-obligation quote or to discuss your home insurance needs.

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