3 things you need to know about life insurance

Life insurance is, in many ways a necessary element in Surprise, AZ. Imagine yourself as the breadwinner of the family leaving your loved ones without even so much as a crumb to eat because you failed to prepare for the unexpected. Such is the case when you choose to go without life insurance.

Contrary to what some may believe, life assurance plans are not all the same. Some policies come with benefits that you can take advantage of while still alive. Other, more economic, plans only provide payouts to your loved ones upon your death. The agents at Giles & Iten Insurance are professionals who know the ins and outs of life insurance. They can explain the details and help you find the indemnity plan that assures your family’s financial standing after you have passed on. Read on to learn three basic concepts about life indemnity plans.

1. Term life insurance comes with benefits

Some people shy away from term life assurance because of its ability to provide a payout for a certain term. The notion of such a “temporary” fix to a permanent and inevitable issue seems irresponsible to such consumers.

Term life insurance, however, comes with several benefits. First, term assurance plans are cheaper than permanent life insurance, which means that you can get more for your dollar. You may also be able to avoid the dreaded physical examination that prevents many from having the whole life insurance policy that they desire. Some term life assurance plans even offer policyholders in the good standing the opportunity to convert to permanent life insurance with no physical exam. This means that you can take an alternative route to permanent life assurance.

2. Permanent insurance is higher for a reason

Those expensive premiums are not just there for the sake of insurance companies charging more. Whole life insurance comes with fringe benefits that include cash build up that you can use while you are still alive. Many policyholders find their way out of a financial bind by cashing in on the interest that has accumulated with timely payments on their whole life assurance plans.

3. You should consider several things before buying life insurance

You are making a big decision when you decide to buy life insurance. You should, therefore, have several questions for the assurance company handling your purchase and consider your lifestyle before selecting the amount of coverage you want in Surprise, AZ.

The agents at Giles & Iten Insurance understand the importance of having financial stability as represented through life insurance. Let them guide you through the process of getting the assurance policy that your family needs. Call today to get started with a quote!

Considering Auto Insurance When Buying a New Car

When looking for a new car do you consider the cost of auto insurance? Wise consumers do this, and you don’t even have to do any extra work to figure this out. Just call your agent at Giles & Iten Insurance serving Surprise, AZ, and the surrounding area. Ask the agent to give you a quote for the make, year, and models of the vehicles that you are thinking about buying.

Here are some reasons why this is such a good move on your part:

  • You will have a better idea of the total cost of owning the vehicle.
  • You will get adequate insurance coverage for your needs.
  • Your agent will be ready to issue a certificate of insurance immediately so you can drive the new car that you buy off the lot.

There are some bad things that can happen if you don’t get your auto insurance agent on board for a new car purchase that you are considering. One of them is getting stuck with having inadequate coverage and perhaps also paying too much for it.

In the excitement of buying a car, the salesperson who is finalizing the paperwork will ask you about auto insurance coverage. They cannot allow a car to drive off the lot without it. If you don’t tell them you already have an agent ready to issue it, they will offer insurance from possibly some company that you never heard of before. You may not have the time or even the interest in investigating anything about the insurance you are going to get.

The other potential problem is that the cost of auto insurance can be a very significant monthly expense for certain types of cars. This may mean that those models are considered a higher risk. They might be more frequently involved in accidents. They might be a model that thieves like to steal more often. For whatever reason, if the insurance premiums are higher for a car model that is similar to another car, you want to know why.

We work in Surprise, AZ, but we don’t like the clients of Giles & Iten Insurance to have any bad surprises when it comes to auto insurance. Give us a call at 623-201-8570 for a quote or use our online form and let us know the models of cars you are considering as a new car purchase.

How a comprehensive Arizona commerical insurance policy can help protect your inventory

Business owners in the Surprise, AZ area often ask the team at Giles & Iten Insurance about protecting their inventory. A business’ inventory can fluctuate quite a lot depending on the time of the month or the time of year. If your business carries a lot of inventory that needs protection, we recommend a thorough review of your current commercial policy to ensure that you have the coverage you need. If you are concerned that your commercial policy does not meet your needs for inventory coverage, it’s a good idea to find out for sure.

Shifting Inventory Levels Can be Protected with a Comprehensive Policy

At some times during the year, your inventory may be at a low level due to the seasonality of your business. At other times, you may have a warehouse full of product. Depending on where you were in the business cycle, you may have underestimated the value of your inventory. When your comprehensive commercial policy is written to account for the variances in your inventory levels, you will be covered.

It is advisable for your commercial policy to provide protection at the highest level of inventory that you carry. Many people work out an average of the value of goods that they store throughout the year rather than at their highest level. The use of this calculation can create problems for the policyholder in the event that there is a coverable loss. Many businesses have a lot of capital dedicated to inventory, and protecting this investment is an important part of an insurance portfolio.

Want to make sure that your inventory is covered? Contact the team at Giles & Iten today to learn more about your comprehensive commercial insurance options in the greater Surprise, AZ area. 

3 Types Of Home Insurance To Supplement Your Basic Coverage With

If you’ve just purchased your home insurance, you’re probably resting easy with the knowledge that you’re fully covered.

Bad news, though. You’re not entirely covered. A basic home policy covers the bare-bone necessities in terms of your possessions. If you don’t want to risk losing everything on your Arizona property, ask your Giles & Iten Insurance agent if any of the following supplemental policies are available.

Flood Insurance

Did you know that your home insurance doesn’t protect you against flood damage?

In most states, flood insurance is a separate policy which can be purchased alongside your basic home insurance. While some standard policies may cover some aspects of flood damage, a flood insurance policy can help you rebuild or repair in the aftermath of significant structural damage.

The National Flood Insurance program is available to provide coverage to homes in designated flood zones, but a private policy can cover a more significant expense budget. The National Flood Insurance program caps out at $250,000 per property.

Sewage Backup

Are you familiar with the kind of disaster that a sewage backup can cause in your home?

Aside from making your home into a cesspool of bacteria, issues with your sewage drain can cause major structural damage to your home. It can make your home unlivable or out of order in terms of the kitchen and bathrooms, causing you to shell out money for a hotel.

Your basic home policy doesn’t cover extensive sewage backup disasters. Even if you live in a dry climate, a sewage issue may be imminent. This is especially true if your home has a private sump pump. Buy sewer backup coverage so that you can replace your plumbing and repair structural issues in an emergency without budgetary constraints.

Earthquake

Even though an earthquake can take place anywhere, did you know that natural disasters are mostly absent from standard home insurance policies?

Should your home be destroyed or destabilized in the event of an earthquake, you have no real safety net. If you buy coverage against earthquakes, though, that budget is allocated to this one type of emergency.

In addition to paying for the repair or replacement of your home and property, earthquake coverage can accommodate your family as you pick up the pieces after the disaster. Your meals and board can be paid for outright or reimbursed, depending on the terms of your earthquake policy.

Are you ready to buy supplemental insurance in Arizona? Call a friendly Giles & Iten Insurance agent to explore your options today.