Surprise AZ

Understanding Agreed Value vs. Actual Cash Value in Classic Car Insurance

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Owning a classic car can sometimes be risky, but having the proper insurance can help protect your interests. When comparing classic car insurance policies, there are two standard terms you may come across: agreed value and actual cash value. Understanding the differences between these two terms can significantly affect your coverage and compensation following an accident in Surprise, AZ.

Differences Between Agreed Value and Actual Cash Value

What Is Agreed Value?

Under an agreed-value insurance arrangement, you and your insurance provider determine how much your vehicle is worth. This number will be the maximum amount that your provider will agree to pay after a covered loss. If you file an insurance claim, you may be entitled to the agreed-upon value or the full amount needed to fix the car. Agreed value is best suited for classic car owners who maintain or increase the value of their vehicle over time.

What Is Actual Cash Value?

In insurance, actual cash value (ACV) refers to the amount needed to replace your stolen or damaged property minus any depreciation at the time of the covered loss. This is the most commonly used method of valuation in auto insurance as it considers the real-world value of your classic car. The biggest downside of using ACV is that the payout may not always cover the cost of a comparable replacement car.

Contact Giles & Iten Insurance for Classic Car Insurance

The decision between agreed value and actual cash value will depend on many factors, such as the type of vehicle you own and how you use it. Working with an experienced insurance agent can help you determine the right valuation for your vehicle. Contact Giles & Iten Insurance in Surprise, AZ, at 623-201-8570 to learn more.

What Type of RV Insurance Do I Need?

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Arizona Motor Vehicle Insurance Requirements

All motorized vehicles on the road, including RVs, must be insured in Arizona. However, the variety of RV insurance options can be overwhelming and leave you questioning what type of coverage you really need. We at Giles & Iten Insurance, located in Surprise, AZ, are well-equipped to help guide you through the process and offer various RV insurance policies.

Type of RV

To start, it’s essential to understand the different types of RVs. Class A RVs are the most luxurious and largest, while Class B RVs, which resemble vans, are on the smaller end of the spectrum. Class C RVs, which fall between Classes A and B in terms of size, are also motorized. These classes of RVs require a specific policy tailored for the RV.

However, if you have a pull-behind RV, the scenario changes slightly. Generally, the vehicle’s auto policy towing the RV will cover liability for this type of RV, but it will not cover any damages incurred by the RV itself.

Liability Coverage

Liability coverage is a legal requirement if you own a motorized Class A, B, or C RV. This type of insurance covers damages caused to other vehicles if you are responsible for an accident and injuries to other drivers and passengers. However, if you have a towable RV, your auto policy will cover liability, removing the need for additional RV-specific liability coverage.

Full Coverage

Full coverage includes both collision and comprehensive coverage. If your RV is currently under a loan, your lender will most likely require this coverage. Collision coverage protects your RV from damages in case of an accident, while comprehensive coverage protects damages that occur while your vehicle is stationary.

Full insurance coverage can be selected for any RV. For towable RVs, the additional coverage will only apply to the RV and not to the vehicle towing it.

RV Insurance at Giles & Iten Insurance

Are you looking for RV insurance in Surprise, AZ? Giles & Iten Insurance is here to assist you. Our knowledgeable and friendly agents will spend time understanding your specific needs and help you select the policy that best fits your situation.

Here’s Why Umbrella Insurance is a Good Idea

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Umbrella insurance policies have become quite popular in recent years. These policies can be used to increase or expand coverage for many different events. Ultimately, umbrella insurance policies are crucial because they can mitigate risks. The right policies can increase security and help you enjoy peace of mind. If you’re looking for insurance agents that provide assistance to residents of Surprise, AZ, give Giles & Iten Insurance a call.

Risks Abound, and Standard Coverage Might Not Be Enough

The modern world has so many risks that it can be hard to wrap your mind around them. Hurricanes, tornadoes, hail, and many other weather events seem to be becoming more common and the damage can quickly add up. Your current policy may only cover a limited amount. If someone falls in your home, you may have to be found responsible for paying for their medical care.

You might be targeted by online scammers as well. Consider that while social media makes it easy for people to stay in touch, it’s also used to scam people. According to the FTC, fraudsters using social media to scam people ultimately caused more than $1.4 billion in damages in 2023.

Your current insurance plan may cover the above events. However, some things may not be covered, and you may not even realize it. For example, you may not have adequate coverage for identity theft and cybercrime. Perhaps your policy will provide coverage, but only for a small amount, say $50,000. These days, criminals can sometimes cause far higher losses.

However, you may be able to take out an umbrella insurance policy to provide extra protection for cybercrimes, personal injuries, dog bites, and many other events. Likewise, you might increase coverage for general theft if you have a lot of valuables in your home, like jewelry.

There are many different types of umbrella insurance plans, and what they cover can vary greatly. If you live in or near Surprise, AZ, and want to learn more about umbrella policies, contact Giles & Iten Insurance.

How Whole and Term Life Insurance Are Different

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When choosing a type of life insurance, two basic types are available. There is whole and term life insurance, each with its advantages. These policies both pay a death benefit to the policyholder’s beneficiaries when they pass, but they operate in very different ways. To learn more about life insurance and get started with your own policy, call us at Giles & Iten Insurance in Surprise, AZ.

Whole Life Insurance

One of the types, whole life insurance, has several advantages. Among these is the length of the policy. These policies never expire, so you can keep your policy for as long as you want. While term policies will expire with time, you can keep a whole life policy for as long as you pay for it. Another advantage is that a whole life policy will accrue a cash value. After a few years of having the policy, it will grow the amount of money you can borrow against. This can be incredibly useful in the event of a financial emergency. 

Term Life Insurance 

With this type of life insurance, every policy has an expiration date. The policy expires after a set number of years, and you’re left without coverage. To be insured again, you have to apply for another policy. However, the upside of term life is that it is highly affordable. It’s much easier to afford than a whole life. Many people choose it for this reason. They may not be able to fit the cost of whole life into their budgets. 

Get Life Insurance

Whether you’d like a whole life or a term life policy, we can help. Call Giles & Iten Insurance in Surprise, AZ.

Get a Car Insurance Quote Before Making Your Next New Car Purchase

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Many consumers often overlook the cost of insurance when purchasing a new car. With vehicle prices rising, this aspect needs serious consideration. Here at Giles & Iten Insurance in Surprise, AZ, we firmly believe understanding your total costs before making a buying decision is the most effective strategy to prevent unwanted surprises.

How to Get a Quote Prior to Making That Purchase

Once you’ve identified a potential vehicle, give us a call. If possible, provide the VIN and explain to our agent that you’re contemplating buying a new car. Once you’ve got a quote, you can be fully educated about the total cost of owning your desired vehicle, allowing for a more informed decision.

Car Shopping Should Be Fun, Not Stressful

Perusing various models, vehicle types, and the latest automotive technology should be exhilarating and enjoyable. The last thing you want is for your excitement to drop off a cliff when you realize your budget cannot support the vehicle’s combined costs and insurance. The trick is to do some due diligence before making a purchase.

Know What It’ll Cost to Insure Before You Buy

Don’t finalize your decision on a new car before considering the cost of insuring it. For a risk-free quote, reach out to our team at Giles & Iten. We’re here to help you avoid the shock of high insurance costs on your shiny new car. Contact us and get the quote you need precisely when you need it.

How will commercial insurance protect me and my Arizona business?

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Surprise, AZ is rapidly growing, not only in terms of its increasing population but also as an ideal place to start or expand a business. As you draw up your business growth plans, it is critical to assess and understand the importance of commercial insurance. A well-rounded commercial insurance policy ensures protection and fortification for your business in many ways.

Mitigating Liability Risks

One of the major ways a commercial insurance plan supports your business is by mitigating liability risks. As the owner, there’s always a risk of being held liable for accidents that result in damages. Without the proper insurance, your business could suffer significant financial losses. However, commercial insurance provides the financial backing necessary in such situations.

Protecting Your Business Assets

Commercial insurance is a significant investment because it also provides protection for your business’s assets. It offers coverage for any business asset that is stolen, damaged, or vandalized, ensuring you have the financial means to perform necessary repairs or replacements without significantly affecting your business operations.

Therefore, if you’re planning to start a business in the Surprise, AZ area, securing the right commercial insurance should be one of your considerations. Contact our experienced team at Giles & Iten Insurance to make the process easier. We understand the importance of commercial insurance and can guide you in choosing the right policy for your business.

What is the benefit of having home insurance in Arizona?

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Benefits of Having Home Insurance in Surprise, AZ

Property owners in the Surprise, AZ area have undoubtedly recognized the benefits of their investment over recent years. When buying a home here, it’s critical that you obtain suitable insurance for it. Several advantages and benefits come with having a home insurance policy in this part of Arizona.

Cover Your Home

Getting home insurance in this region of Arizona can protect your home from significant damage caused by factors such as bad weather, fire, or vandalism. Home insurance can provide the necessary financial support at such times, making it a reliable investment.

Manage Liability Risk

A home insurance plan can also help manage liability risks. Owning a home comes with multiple risks, including the possibility you will be held liable if an accident occurs on your property. The right insurance plan can provide you with the support you need to cover damages associated with any claim.

Homeownership can be an optimal housing choice if you’re in the Surprise, AZ, area. If you’re aiming to protect your home, one of the best decisions you can make is to call our team at Giles & Iten Insurance. We appreciate the value of this protection, and we are dedicated to assisting you in building your next policy. This helps ensure that you remain adequately covered and supported at all times.

The Impact of Traffic Patterns on Auto Insurance Rates in Surprise, AZ

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In the cityscape of Surprise, AZ, where traffic patterns shape daily life, auto insurance rates follow a distinct rhythm. At Giles & Iten Insurance, we understand how traffic impacts your premiums.

The flow of traffic, coupled with accident frequency, weaves into the fabric of auto insurance pricing. Areas with high traffic volumes often face increased accident risks, influencing insurance costs for drivers. In Surprise, AZ, understanding local traffic patterns can provide insights into the factors shaping insurance rates.

As your local insurance experts, we stay attuned to the cadence of Surprise, AZ, ensuring our clients receive tailored insurance experiences. Navigating the twists and turns of traffic dynamics, our mission is to offer insurance solutions that align with your needs and the local scene.

For a deeper understanding of how traffic intricacies may affect your auto insurance rates or to explore insurance options in Surprise, AZ, connect with Giles & Iten Insurance. Our team is ready to offer expertise, counsel, and personalized insurance solutions, ensuring you have coverage tuned to your requirements. Let us be your partners in securing insurance that aligns with the vibes of Surprise, AZ.

Navigating the city’s thoroughfares can be a complex choreography, and understanding how this dance influences your insurance rates is crucial. At Giles & Iten Insurance, we go beyond the surface to provide insights and solutions tailored to the specific intricacies of Surprise, AZ. Our commitment is to offer insurance coverage and empower you with the knowledge to navigate the roads confidently, knowing you have a reliable partner in Giles & Iten Insurance.

Fleet Insurance Solutions: Comprehensive Coverage for Commercial Vehicles

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In the bustling business landscape of Surprise, AZ, Giles & Iten Insurance stands as your reliable partner, committed to providing tailored insurance solutions. Here are some key pieces of information you need to know about comprehensive coverage for your commercial vehicles. 

Understanding Fleet Insurance

Commercial fleet insurance is a specialized coverage designed to protect businesses that rely on a fleet of vehicles for their operations. Whether you own a handful of delivery vans or an extensive fleet of trucks, Giles & Iten Insurance in Surprise, AZ, has the expertise to guide you through the nuances of comprehensive coverage.

Tailoring Policies to Your Fleet

Giles & Iten Insurance understands that each fleet is unique, requiring a customized insurance approach. Our experienced agents work closely with businesses in Surprise, AZ, to assess the specific needs and risks associated with their commercial vehicles.

Key Features of Fleet Insurance:

  1. Vehicle Coverage: Fleet insurance covers physical damage to your vehicles, ensuring that repair or replacement costs are handled promptly in the event of an accident.

  2. Liability Protection: Protect your business from potential financial losses due to bodily injury or property damage caused by your commercial vehicles. Giles & Iten Insurance can help determine the appropriate liability limits for your fleet.

Consult Giles & Iten Insurance Today!

For businesses in Surprise, AZ, Giles & Iten Insurance is the go-to agency for comprehensive fleet insurance solutions. Consult our knowledgeable agents today to discuss your specific commercial vehicle insurance needs. Let us tailor a commercial insurance policy that safeguards your fleet, providing peace of mind as you navigate the roads to business success.

Four important home insurance considerations to take into account

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When you select a home insurance policy in Surprise, AZ, it’s essential that you take all the pertinent considerations into account. At Giles & Iten Insurance, we’re here to answer any questions you have about your insurance options.

Here are four important home insurance considerations to take into account. 

Coverage for liability expenses

Home insurance providers typically offer a variety of liability coverage options. It’s best to invest in added liability protection to ensure your assets will be adequately protected in the event of a lawsuit. 

Coverage for personal property

When you buy home insurance, it’s a good idea to have the value of your most expensive possessions appraised. This way, you can be sure that you have enough personal property coverage on your policy to cover the full value of the belongings in your home.

Homeowners with especially expensive items like high-end electronics and jewelry might need more personal property coverage than a standard policy offers. 

Coverage for outbuildings

Do you have outbuildings such as a shed or a guest cottage on your property? It would be best if you didn’t assume that your home insurance covers these outbuildings until you’ve read the fine print.

A standard home insurance policy might limit coverage to the main house alone. If you want your outbuildings to be covered, make sure you discuss this possibility with your home insurance provider. 

Home safety features

Home insurance providers typically perform home inspections before offering insurance coverage.

You might be told by an insurance provider you have to invest in some safety upgrades before you’ll be eligible for insurance coverage. For example, you might need to have repairs done on your plumbing system or have deadbolt locks installed on your doors to get home insurance coverage. 

Shopping around and getting quotes from insurance providers is important when buying home insurance in Surprise, AZ. Call us at Giles & Iten Insurance to get a quote on a policy.