Insurance Policies

Everything you need to know about policies and procedures, minimum requirements, and what policy is best for you.

How Insurance Provides Peace of Mind

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Take a minute to imagine how you would feel if your car were stolen. You come out of a store, head out to work in the morning, or hear a strange sound in your driveway one night. What kinds of thoughts would run through your mind if you headed out to your car and it simply wasn’t there? Well, these things happen. But, if you have auto insurance, especially if you have auto insurance through Arizona Capital Insurance, you can sigh a breath of relief.

The same thing holds true with home insurance. How would you feel if you came home from vacation and found your home had been burglarized? No matter what, you’re not going to be happy about what happened. But as long as you have  insurance, you’ll have some peace of mind.

What about your business, your boat, or even your life? Image how you would feel if something were to happen.

In many cases, you’re required by law to have coverage. So it’s not like you’re sitting around thinking, “I wonder if getting car insurance or home insurance will provide me with peace of mind.” But it’s always nice to appreciate what you have – even when you’re forced to get it.

Here are some recent stories we heard about where the insured individual was grateful they had coverage:

  • One woman has had her car stolen twice in the last 3 years, the stereo stolen from her car once, and just this weekend her parked car was damaged in a hit and run incident. Her auto insurance company is getting to know her on a first name basis.
  • Another woman lost the 1.5 carat diamond out of her wedding ring. Fortunately, her ring was covered under the terms of her home owners insurance and she was able to have the diamond replaced at absolutely no charge to her.
  • A couple’s young daughter wanted to “help mommy” by giving her sister a bath. She turned on the bathtub faucets and left them running, unnoticed by anyone in the house, for several hours. Their home owners insurance is paying for the new floor, moldy wall replacement, and clean up.

The best case scenario is that you never need your insurance, but it’s nice to know it’s there. Can you image what life would be like if we didn’t have good coverage? One devastating incident could leave you in serious financial trouble.

One of the reasons the employees of Arizona Capital Insurance  love their jobs is because they know they are offering a much needed service, and they love to find great rates and the perfect coverage for each of their clients.

Now, because we like to get your feedback, we’re hoping you’ll tell us about any incidents you may have had where your insurance policy allowed you to sigh a deep breath of relief. Let’s see how many times insurance policies saved the day. Just post your comments below.

Does Anyone Read Their Insurance Policy?

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You walk to the mailbox, sort through envelopes, and realize “Oh, my new insurance card has arrived.” Along with your insurance card, you get a copy of your policy. But, if you’re like most people, you put your insurance card in a safe place and disregard the rest of the information.

Well, that’s a lot of trust to be putting in your insurance underwriters. Especially if your policy is a renewal. How do you know that what you needed was really included in your new policy? Do you have a minimal policy or are you paying for all the coverage you need and deserve? If a catastrophe were to happen, are you going to feel secure that you’re taken care of, or, are you going to worry that maybe things aren’t as great as you hoped they would be?

Whether you’re looking at a home, auto, or life insurance policy, you ought to read it. Sometimes the insurance terms can be difficult to understand. That’s why we’re here.

At Arizona Capital Insurance, we do our best to provide you with the company and policies that work best for you. Once you get your policy, read through it. If you don’t understand it, or want clarification, give us a call. That’s what we’re here for.

With all the fires that have resulted in lost homes, we’re more concerned than ever that you know what to expect from your policies. So, read your policies and make sure you have the coverage you think you do.

How to Deal with Fire and Smoke Damage Part II: Insurance

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At Arizona Capital Insurance we were so pleased to hear that the Wallow fire has become a little more contained. We’ve also been happy to hear from our clients, letting us know they are alright and asking questions about their insurance.

So let’s focus on that topic today: how to deal with your insurance when you have fire and smoke damage.

First of all, we are here to help our clients. We’re going to work with you to make sure you are able to recover from this devastation as easily as possible. But, as you know, we are not your direct source of insurance. We’re an insurance broker. You will need to work with your insurance company directly to make sure you get the benefits you’re entitled to. We will help you file the claim and walk with you through the process step by step.

Here are some tips for making this a smooth, beneficial process:

-Call your insurance company now. Obviously the country is aware of the damage being done by the Wallow Fire. But, more than likely, insurance companies are not seeking out which of their clients have been affected.

Give them a call and let them know you’ve been displaced. Then, review your policy with them. Many policies will pay the expenses you’re incurring by being evacuated (subjected to your deductible). Find out what your policy covers and what the process will be for submitting your claim once you are allowed to return home. Give us a call if you would like help with this.

-Keep all receipts. Whether your policy covers your evacuation expenses or not, it’s a good idea to keep all your receipts from gas, lodging, and food. At this point, you are building a case for yourself (in case you need it) and receipts will come in handy. If you don’t have receipts, get copies of your bank statements showing your expenses.

-Document everything. From the moment you walk in your door, start taking pictures, videotaping, and writing down all the damage you notice. You may need that documentation as proof for what you should be compensated for.

-Get a restoration specialist (or 2) to come in as soon as possible. Unless you are an expert in housing and construction, you really won’t have any idea how much damage has been done to your property. Smoke and soot can get into vents, a/c units, behind walls, into the pluming, and all kinds of places you wouldn’t think to look. Nor will you be able to see the damage in these areas on your own. As the specialist comes through, they will write down their observations and give you an idea of what will need to be replaced or cleaned.

And if one specialist is good, two are better. You may need to submit more than one estimate to your insurance company.

-Write down the cost of your damaged property. Since the insurance company will be replacing your irreparable things, be sure to write down what they cost. Odds are, you will not get 100% of the purchase price for all your items, but that’s what you’ve got to build your case for. If you have receipts from recent purchases, find them and add them to your collection of documents. Pull information from your bank statements. Do your best to find evidence of what your personal property costs.

-Stay logical. Again, we will do everything in our power to assist you. But insurance companies never like to pay out on claims, so you’ve got to present them with the facts. By documenting, getting assessments, and creating a case for yourself, you are approaching this situation wisely. You’re going through a horrible tragedy, but tears are not going to sway the claims department. Knowing what you’re entitled to (because you read through your policy and we can help you) and presenting your evidence should get you a reparation check. So stay calm and don’t move, repair, or trash anything until you’ve got evidence.

I think we’ve said it twice in this post, but I think it’s worth mentioning again: we are here to assist you. It’s what we do and it’s why you come to us for your insurance needs, so reach out if you need us.

If anyone reading this post has been through fire damage before and has thoughts about how to build your case for an insurance company, please include your comments below. We hope to hear about what helped you, and what mistakes to avoid.

How to Determine Your Life Insurance Needs in Arizona

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One of the nice things about home, car, and renters insurance is that you know you need it and every now and again you see it being used. You get it once and maybe you check on your policy when it expires. But for the most part, you don’t give it that much thought…, especially when you’ve got a great agent like those at Arizona Capital Insurance (formerly OMNI Insurance).

Life insurance however is a little different. Circumstances in your life will change the way you see your policy and may seriously alter your needs. Things like:

  • Having a baby
  • Becoming empty-nesters
  • Incurring new debts
  • Starting a business
  • Retirement

Each of these events is bound to affect your needs. So how do you know how much life insurance you need and when you should change your policy? Well, we’ve got some suggestions about how to calculate that amount.

Cover your debts. If something were to happen to you, your loved ones would be the ones trying to pay off your loans. When getting a new life insurance policy, you’ll want to plan ahead so you have enough money to cover any and all debts – including your house. Houses are usually the biggest expense each month. By paying off the house, you’re giving your family a better chance of more easily taking care of their other payments.

Include enough for funeral expenses. Even if you have savings that could cover funeral costs, your family will appreciate a little something extra so they don’t feel confined to cutting expenses.

Plan for each child’s future. If you have younger children, you’ll want to put money aside for their education. College can be expensive and if something were to happen to you, a single parent would really struggle to provide college educations for their kids.

Allow for up to a year of time off for your spouse. Whether you have children still at home or not, recovering from loss can take some time. Whether you’re a husband or a wife, consider including enough insurance to take care of the family expenses for a year. That will allow your spouse and children some time to pull themselves back together.

No one really wants to think about the need for life insurance, but planning ahead can mean the difference between your family being well-cared for and struggling with unexpected additional expenses.

At Arizona Capital Insurance, we’re here to make sure you get the best policy for your family no matter what the situation may be.

How to Prepare for Those Teenage Driving Years

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Are you sure you’re ready for this, a teenager who can now drive? With gas prices skyrocketing and the added costs to your insurance, you may be dreading that sweet 16th birthday. On the other hand, those who have teen drivers enjoy sending their children to the store for milk and appreciate not having to pick up their child from a party on a Saturday night.

Teenagers will only be around for a few more years. So why not learn to appreciate the new milestones your children are reaching. Here are some ideas for preparing your teens to drive, so you don’t break the bank while helping them move into that new stage of life:

Encourage Good Grades. Did you know that a lot of insurance companies will offer good student discounts on insurance rates? You want your children to get good grades anyway. Here is one more incentive for them to keep their grades up. Perhaps you can have them pay the additional insurance costs if their grades slip.

Choose a Car with Lower Insurance Rates. Sure, every kid would love to be driving to school in a sports car, but that’s not realistic on your budget. Besides the cost of the car, certain vehicles will cost you more to insure. Your insurance company should be able to tell you which vehicles are cost effective.

Let Them Drive the Family Car. Even if you don’t buy a vehicle for your child, you still need to get them insured if they plan on driving. Insuring your child on existing vehicles is a heck of a lot cheaper than purchasing a new one. Of course, then you have to battle for possession of the family car.

Avoid Driving Incidents at All Costs. Does your teenager realize what happens to your insurance rates when they get a ticket or have an accident? Talk to them about it. You may consider having them pay their own insurance costs if they violate traffic laws. Be sure to have a heartfelt discussion about NOT texting in the car.

Call an Insurance Agent in Advance. Finding the best insurance policy for your teen driver can take some time and some shopping around. Before your child turns 16, we strongly encourage you to start looking for the best car insurance options for your child.

At Arizona Capital Insurance, we do the shopping for you. If you have a child quickly approaching that magic age, give us a call. We can find discounts and better rates for your teen driver. We can help you choose a car that will bring in a lower insurance rate. And we let you know what to expect if the unexpected happens.

Is an Average Insurance Policy Enough Coverage for You?

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If you drive a car or own a home, you know that insurance is a requirement both with the state of Arizona and those that hold your loan (either car loan or mortgage). But does having only the “required” coverage make you feel safe leaving your home on vacation, or driving your car?

Here are a few things you should know about the average insurance policy and whether it’s enough coverage for you:

Whether a car accident is your fault or not, you can be sued by the others involved in the accident. Consider the assets you own (home, car, stocks, etc.) and then determine how much coverage is enough for you. The same concerns hold true with your properties. An incident at your home could also leave you in a vulnerable position.

Minimum state requirements may not be sufficient for repairing your car in the case of an accident. Consider how many uninsured drivers are on the road. When determining insurance coverage, think about the possibility of needing to cover car repairs, even when the situation may not be your fault.

Insurance on your home may not cover every possible natural disaster and human error. Find out what your insurance does cover and then consider any other possible scenarios that may keep you from covering all your bases. Flood damage and earthquake insurance may need to be purchased separately.

Not all Arizona insurance policies will cover the assets in your home. Others will cover everything from jewelry to electronics. Determine what you want covered and make sure it’s included in your policy. Take note that home offices are not typically covered in a homeowners insurance policy.

With car insurance, a claim could be denied if the insurer finds the policy holder to be reckless or the car to be poorly maintained, in which case, you’ll be paying out of pocket.

In all reality, there are dozens of little nuances and details about insurance that are sometimes difficult to follow. Shopping for insurance can be confusing, especially when you’re not even sure what coverage you need.

That’s why we’re here to help you find the best policies at the best premiums. Why not give our team a chance to find the best policy for you?