Facts on Auto Gap Coverage

Insurance companies vs. car dealerships for guaranteed asset protection, or GAP policies, which cover the difference between a vehicle’s loan balance and its cash value if the vehicle is stolen or totaled.

Dealer Says: No deductible on our Policy

There is no deductible on most gap policies, however the primary insurance policy has a deductible.  GAP on your insurance policy can cost $8 – $22 per year for three to four years. GAP sold by the dealership will cost $600 – $1,200 and you’ll pay interest on that as it is added to your loan. GAP at the dealership is sold by a third-party insurance vendor. In the event of a total loss, you may be in the middle of a battle between your insurance company and the dealer’s GAP company. If your GAP is with your own insurance, this is all settled in house without delays. So yes, your deductible may be waived with the dealership’s GAP, but is it worth as much as $1,500.00 when you may pay as little as $32 through your insurance policy?

Dealer Says: No Impact on Insurance Rates When You Make a Claim With us

You cannot have a GAP claim without a total loss claim. If you have a total loss, the claim is already filed on your primary policy and a GAP claim is irrelevant. The impact on future insurance rates will be the same for a total loss, whether you have the GAP coverage through the dealership or your own insurance.

Dealer Says: No Risk of Cancellation Due to Claim on Their GAP Coverage

As above, the GAP claim is irrelevant, regardless of where the GAP coverage lies and some states do not allow a “cancellation” due to claims.

Dealer Says: You Have the Freedom to Switch Insurers if You Choose Their GAP

GAP is not needed for the life of the loan. You can remove gap coverage from your insurance policy anytime you want. It is only needed until you no longer owe more than the vehicle is worth. In most cases, gap is only needed for the first three or four years of the loan and some carriers will allow GAP if you have it on a previous policy.

Dealer Says: Insurance Companies Will Most Likely “Fix” Total Loss Vehicles

GAP has nothing to do with the cost of repair versus the cost of replacement. The insurance company will only fix a vehicle if it is safe to do so and if the repairs do not meet or exceed a threshold of repair cost to Actual Cash Value.

Everyone should verify laws within their own state, read all information available, and ask plenty of questions in order to make an informed decision regarding GAP coverage for themselves.

Reasons You Should Consider Buying Flood Insurance Even If You Are Not in a Flood Plain

Flooding and the damage it causes is typically not covered by your home insurance policy. For flooding to be included, you have to purchase a supplemental flood insurance policy. One of the questions that INW Insurance Group, serving the Phoenix and Mesa, AZ area, is frequently asked is, "do you need this add-on insurance if you do not live in a floodplain?" We strongly recommend flood insurance to our customers, and this is why.

Not All Floods Happen in Flood Plains

Many people think that floods only happen in floodplains or the areas marked as high risk. But one in five floods hit homes that are outside of the high-risk area. This statistic means twenty percent of all flooded homes are affected. This statistic may seem low but is a high percentage for floods compared to other disasters and as such, one of the reasons why you should consider having flood insurance even if you are not in a high-risk area. 

Flood Insurance Covers More Than Floods Caused By Rain

The other reason why you may want flood insurance, even if you are not in a high-risk area, is because flood insurance covers more than just floods caused by rain. If you have a pipe that bursts, a septic tank that overflows, or a leaky toilet, a flood may occur in your home. In some cases, these types of floods may be covered under your home insurance policy. This is not always the case. Having flood insurance ensures that your home is protected against all types of floods, not just those caused by rain. 

If you do not have a certificate or add-on addendum to your home insurance that specifies flood coverage, your home may not be covered against floods. Let INW Insurance Group, serving the Phoenix and Mesa, AZ area, change this. Call us today to get a quote for flood insurance.

Pet Insurance and Wedding Insurance

Everyone knows about home and auto insurance, but what about wedding insurance and pet insurance? Surprisingly, there is such thing as wedding insurance and pet insurance! It may be something to consider. Let’s look at the facts:

The average wedding cost in Mesa, AZ is $24,859, making your special day very expensive. What happens when your big day gets canceled or great grandma Mary trips and falls? INW Insurance Group has a few different options you might consider for wedding insurance. There is wedding insurance itself which covers everything from cancellations to lost deposits. It also covers any fees you may have already paid to your vendors, which is a huge plus!

Liability and alcohol liability are also equally important in Mesa, AZ to protect you from any lawsuits, which sounds crazy, but it happens! You will want this coverage even if the venue doesn’t already require it. There is a lot more to getting hitched than you thought!

INW Insurance is a great place to start for any large event insurance coverage in Mesa, AZ. If you have any questions on wedding or large event insurance give us a call and we will be happy to point you in the right direction.

If you are anything like us and treat your pets like family, pet insurance might be something to consider. Pet policies cover just about everything you could get for yourself. They have basic health coverage, which covers visits to the vet, accidents, and some types of medication (of course it depends on the coverage you decide on.) Here are some tips from the pros to help you decide what pet insurance is right for your pet:

  • Find out how different carriers define and handle pre-existing conditions.
  • In some cases, insurance providers will not insure a specific breed of pet or may limit the number of pets you can insure, if they consider them “high risk.”
  • Some providers will give multiple pet discounts.
  • Co-pays, deductibles, add-on charges and other fees, should be clearly explained to you so you fully understand the policy and its limitations.

Why We Love Being Insurance Agents

Why We Love Being Insurance Agents

There are a few things that brought us to the insurance business, but many things that keep us here, serving you in Mesa, AZ. For many, insurance is just get your money and move on. That is why so many agents sell you the cheapest possible price. For us, being an insurance agent is more. It is about you, your family, protection and a relationship built on trust. What we do directly affects your quality of life, so we care about our customers like we do our own family. Check out some other reasons as to why we love what we do here at INW Insurance.

We Work For You!

One of the biggest things that we love about our job here at INW Insurance is that we aren’t directed by anyone but our clients.  As independent agents, we work for you, not the insurance company. This makes all the difference regarding choice and flexibility for you.  After all, it is all about you.

We Want to Help People Everyday

We love what we do because we get to help people every day here in Mesa, AZ. Not only do we find our customers the best quality insurance, we provide peace of mind that they are taken care of. When you help people every day, there is so much joy in what you do.

We Provide What Everyone Needs

Being an insurance agent for INW Insurance Group is something we can absolutely stand behind because insurance is something everyone needs. Why not make your insurance shopping a great experience by contacting INW Insurance? Because we aim to make your buying experience, exceptional.

Integrity Pays Off

We are in the business of building trust. You are trusting us to insure your home, vehicles and well-being. Why wouldn’t you want to know your insurance agent personally? We want to know you! We serve our community of Mesa, AZ with all our hearts and we provide you high quality service that sets us apart from others.

All in all, we cannot imagine doing anything else! Being an insurance agent allows us to do what we love which is helping people just like you.