Can I get renters insurance to cover the actual replacement cost of my possessions?

If you rent an apartment or house in Mesa, AZ, you probably realize you need to find a renters insurance policy to protect yourself in case there is a fire or burglary at your residence. INW Insurance Group can help you decide how much protection you need.

Renters insurance is surprisingly cheap because you don’t have to cover the physical building. You only have to figure out the value of your physical possessions, such as your furniture, clothing, entertainment system, etc.

Actual Cash Value and Replacement Cost

Which kind of policy you choose will also decide the size of your premium or price per month. Even though renters insurance is relatively inexpensive, you need to consider the value of the items you own and if you will need the full replacement cost.

Actual Cash Value

Normally, an insurance claim will take into account the amount an item has depreciated in cost since you purchased it. For instance, the television you bought two years ago has experienced some wear and tear, and the older model may not be considered very good anymore. If your renter’s insurance gives you the actual cash value of items taken or destroyed, that means that you will pay out of your own pocket to replace your items.

Replacement Cost

A policy which offers replacement cost is a little more expensive but you will be able to claim the amount that it would take to replace your possessions. During a disaster, you could replace your possessions and move on. 

Nobody wants to think bad things will happen in Mesa, AZ, but if something does happen you want to be protected. Call INW Insurance Group today to discuss the best way to protect your interests.

Can You Increase Your Home Insurance Coverage Before the Contract Expires?

An important part of owning a home is selecting the appropriate home insurance. This is especially important if you are financing your residence. Over the course of time, you may make improvements or additions to the home that make it necessary to change the amount of coverage you have on the home. So, you may be wondering if you can change your coverage amount before a policy expires?

Changing Your Coverage

If you decide to remodel or add a room to your home, then the value of your home will change and so will your policy needs. In most cases, you can easily edit your home insurance policy to reflect these changes. Before you purchase your policy, you should consult your agent about the proper procedure to change your policy should you need to before the policy needs to be renewed. They will tell you how to proceed so you don’t have gaps or lack of coverage. Usually, the process is simple and only takes a few minutes. 

Quality Insurance Products

Make sure you choose quality insurance products from a reputable Insurance provider such as INW Insurance Group serving the people in an around the Mesa, AZ area. They can help you discover the options you need to have security and the right type of protection to prevent potential loss. Discuss your situation with a knowledgeable agent and find out how the process of increasing your home coverage works along with the proper procedures to follow to ensure continued coverage.

Always understand how your insurance coverage works and the steps necessary to change your coverage when the time comes. Let INW Insurance Group help you get the complete coverage necessary to give residents in and around the Mesa, AZ area peace of mind.  

Do You Need Motorcycle Insurance?

If you enjoy the feel of the wind through your hair as you are driving your motorcycle, then motorcycle insurance is a must. It is required in the State of Arizona by law in order to keep yourself protected in the event that there is an accident. If you need insurance coverage in the Mesa, AZ area, the first thing you should do is research insurance companies in the area to see which ones will have the policy you need. Calling and speaking with a knowledgeable insurance representative, such as the staff at INW Insurance Group, may also help answer any questions you have and put your mind at ease. There are three types of coverage that are the most common for motorcycle owners, including:

  • Comprehensive Physical Damage: This type of insurance protects against adverse weather conditions, theft, vandalism, or other damage that was caused when it was not on the road.
  • Collision: Collision insurance will only pay for damage done to your motorcycle after an accident.
  • Bodily Injury Liability: Medical expenses for third parties will be paid after an accident with this type of insurance.

For those motorcycle owners who do have insurance, it is crucial that you do not let the policy expire. Without proof of updated insurance, the motorcycle registration and your driver’s license could be suspended. These rules only apply to those motorcycles that are on the road. It is perfectly acceptable to not update your insurance on a bike that is non-operational, such as being repaired or restored. 

If you enjoy riding your motorcycle and want to continue driving it, motorcycle insurance is necessary. INW Insurance Group works with clients in the Mesa, AZ area and would be happy to discuss any policy with you. Contact them to determine what policy is right for you.

 

Considerations for Older Drivers

Everything changes with age, including us. This doesn’t necessarily have to be a bad thing, but it definitely needs to be something we are aware of. As you age your driving may change along with other things in your life. Here are a few considerations for older drivers.

EyeSight

If your eyesight has changed over the years, you need to consider how this might affect your driving practices. Do you have trouble seeing well at night? Night driving may be something you need to delegate to others. Another solution might be to talk to your eye doctor about how you can remedy issues you have with driving and seeing well at night. A tweak to your glasses prescription could be the solution. If eyesight problems have increased to the point you can no longer drive safely, then you may want to consider other, safer options.

Memory Issues

You might think that memory issues only affect how quickly you can find your wallet or the remote control, but memory issues while driving can be a real problem. If you have experienced memory lapses while driving that has caused you to get lost, or make unsafe driving choices, you should discuss these issues with your doctor. Cognition is crucial to safe driving, both for yourself and for other drivers on the road. Do not dismiss memory issues if it is affecting your driving.

Other Health Concerns

If you have developed other heal concerns which would affect your ability to safely drive, you should consider other options. There are lots of ways that individuals can maintain their independence even if they can no longer safely drive. Discuss some of the options with your family and doctor to help decide what your best and safest option might be.

If you’d like to learn more about safe driving contact one of our friendly representatives at INW Insurance Group serving Mesa, AZ.

Flood Insurance Limitations

When the National Flood Insurance Program was crafted, it was intended to provide consumers a means by recovering enough to get back on their feet. This distinction was on purpose, to provide the means by which a community could be restored enough to be functional again. That is a very different level of recovery than being restored to a status quo as if nothing had happened at all. Many folks in Mesa, AZ and elsewhere frequently assume flood insurance will restore everything lost and damaged in a flood. This is incorrect. Flood insurance is offered by providers with financial backing by the federal government through NFIP. In doing so, the program puts limitations on the amount of coverage possible for a typical detached home, which in turn allows the program to provide coverage for more consumers in total. That then likely means a typical family home will see structural repair mostly covered in a basic sense, and some personal property replaced financially. However, homeowners affected by a covered flood will still have some losses at the end of the day.

Homeowners do have a choice in the levels of NFIP coverage that can apply on their home. That in turn will affect how much recovery is funded by NFIP versus being an out-of-pocket loss. The folks at the INW Insurance Group can go through the details with a Mesa, AZ homeowner and explain how the NFIP policies available actually would apply for a given home. Call INW Insurance Group today and make sure your home is properly protected. Don’t find out the hard way what kind of recovery you missed out on.

When Can You Claim Your Condo Insurance?

Condo insurance protects you from financial losses in case of insured risks such as damage to your condo unit structures and your personal property. In case of a disaster, put more focus on ensuring your safety than on retrieving your valuable property. You can file a claim later. Take pictures of the event if possible and get statements from witnesses if there are any. If you live in Mesa, AZ, you can get quotes for your condo insurance policy at INW Insurance Group. The type and amount of condo insurance you get depends on your specific needs. They may as offer you advice throughout the claim process.

When to Claim Your Condo Insurance

  • If You Lose Your Personal Property

You can make a claim if your personal property is damaged or lost in your condo unit because of insured risks including vandalism, theft, and fires. Personal property may include electronic devices, furniture, jewelry, and clothing.

  • In Case of Liability Claims

If third parties, such as guests, get injured in your condo, you can make a claim. You may also make a claim if you lose or damage their personal property by accident. In such cases, your condo liability insurance will compensate you for their medical costs and the costs of repairing or replacing their property. If they sue you, it will help to pay for the legal charges.

  • In Case of Additional Living Expenses

If your condo unit becomes inhabitable because of insured risks, you may make a claim for additional living expenses. If, for example, your unit is under repair after a fire incident, you may need to stay in a hotel room. Your insurance will compensate you for any sensible costs such as hotel bills.

Contact INW Insurance Group on 480-626-0797 for your condo insurance needs in Mesa, AZ.

Special Home Insurance Needs for Those Living in the Southwest

The potential risks faced by Americans differ substantially, depending on where they live. People who live in the southwest are not likely to need insurance coverage for hurricane risk. However, they are very likely to need adequate insurance coverage for damage caused by dust storms to their homes and to their vehicles.

Newcomers, moving to the southwest, may be unaware of the unique risks to people and property living in a desert environment. For this reason, it is best to consult with an insurance agent at INW Insurance Group in Mesa AZ for a thorough review of existing coverage and suggestions for how to improve your coverage in accordance with your personal needs.

Extra Coverage Needed for Very Valuable Items

Home insurance may cover the basics; however, your agent will explain what is not covered. It is a good idea to have the replacement value of the home as the amount insured and update this amount at least on an annual basis or if any significant changes have been made to the home.

The contents of the home need to be considered, especially if there are valuable items such as jewelry or fine artwork. Usually, expensive items can be insured more effectively with a separate insurance policy.

Personal Liability

It is also important to consider any personal liability risks. This can come up in unexpected ways. For example, if someone is on your property and is bitten by a snake, even though the homeowner had nothing to do with this, they may have liability for it happening. If you have a swimming pool it needs to be protected from unauthorized access. If a child gets in the pool and then drowns, the homeowner can be held responsible.

Conclusion

Dust storms, snake bites, and swimming pools are just a few of the special risks found in the southwest. Be sure to contact your agent at INW Insurance Group, serving Mesa AZ and the surrounding area, for an insurance review and a quote.

Why Is Renters Insurance So Important

If you own any property, be it big or small, then you need to purchase rental insurance. Rental insurance is a form of insurance that helps to cover belongings from damage or theft. For people who may be short on cash, rental insurance can be purchased for a very low amount. Called content or home insurance, they offer liability coverage in the event that someone gets injured in your apartment.

In the unfortunate event that your house is destroyed by fire or storm, renters insurance will be responsible for paying for the loss of the apartment. The insurance also covers for when you are out on vacation. These are some of the most popular reasons for purchasing rental insurance with INW Insurance group. INW Insurance Group is a reputable insurance company that services the Mesa AZ. Below are some of the services that are offered by INW Insurance Group in Mesa, AZ:

1. It covers for theft:

In the event that something of immense value gets stolen or damaged, e.g. laptop which is used for work. Although the data in the laptop are irreplaceable, the insurance will offer a payout, which is usually a replacement value for the laptop of whatever property that is stolen.

2. It covers for fire incident:

In the event of a fire which leaves you homeless with little or no property, renters insurance can cover for your loss as well as finance whatever place you can stay while repair work is ongoing.

3. It covers for other insurance:

Renters insurance helps to cover insurance gaps left by other insurance policies. A good example is when your laptop gets stolen from your car through a broken window. Your auto insurance will cover the broken window, but won’t cover for any property left inside the car. Renters insurance, on the other hand, can help to replace your lost laptop.

4. Personal injury:

In the event that you have a neighbor or friend come by the house and who accidentally slips and gets hurt. Renters insurance will cover your liability for the injury.

Benefits of Umbrella Insurance

Umbrella insurance or excess liability insurance is meant to protect you from almost everything that your standard insurance policy doesn’t. Being a liability policy, it’s intended to compensate third-party liability claims, including injuries and damages for which you are responsible for. This policy doesn’t work alone; it comes in after you’ve exhausted your standard insurance policy. There is a limit to what your auto, home, and other standard insurance policies can do.
Severe accidents and large lawsuits could render you or your business bankrupt. At INW Insurance Group, we offer a wide variety of umbrella insurance coverage options to the residents of Mesa, AZ, and its environs. Some of the benefits of umbrella insurance include:
Extra Protection
It offers additional liability coverage including bodily injury and property damage that your typical insurance can’t reach. It also covers losses such as slander, false arrests, malicious prosecutions, etc.
Extra Coverage
Standard insurance policies often have exclusions. For instance, your auto insurance may not cover you if you cause an accident in another country. Umbrella insurance will help you in such situations.
Financial Security
Every day, there are several lawsuits filed against ordinary people and businesses. Severe accidents and large lawsuits may end in a huge financial settlement that may render you or your business bankrupt. Umbrella insurance makes sure this doesn’t happen.
Peace of Mind
Just like any other insurance, umbrella insurance offers you tranquility knowing you are protected from any lawsuits no matter how large they may be.
Talk to a local and knowledgeable agent at INW Insurance Group to help you understand what works for you or your business. We strive to ensure that the residents of Mesa, AZ and the surrounding areas have enough protection against any liability claims. Contact us today for more information.

What Happens If I Drive Without Insurance?

Have you ever wondered what would happen if you just stopped paying for auto insurance and drove without it? If you drive in Arizona you have to have car insurance otherwise you can be denied registration for your vehicle. Over 37,000 people die in car crashes every year in the U.S., 2.3 million are injured or disabled and these crashes cost the country over 230 billion annually. Insurance is meant to protect drivers and their property from these risks.

You Will Get a Ticket

If you’re caught driving without auto insurance, you’re going to get a ticket.  If highway patrol pulls you over for speeding or any other offense, or you get into an accident, on top of any other fines you incur, you’ll also be fined for driving without insurance.  In Arizona, the fine for being uninsured is anywhere from $500-1000.

Your License Could be Suspended

If you’re caught driving without insurance, your license can be suspended until you are able to provide proof of insurance and you’ll have to pay to have it reinstated. You could have your license permanently taken away if you have multiple suspensions.  To make matters worse, when you do decide to get insurance, you’ll have to pay a higher rate for having a lapse in coverage.

Your Car Could be Towed

If you’re caught driving without insurance by the police, they could prevent you from continuing to drive by having your car towed.  Then, you won’t be able to get your vehicle out of the impound lot until you provide proof of insurance.  Everyday it’s on the lot, you’ll also incur impound fees and some lots will even send vehicles to auction within a few days.

If you have insurance but don’t have the card with you or the card is expired but your policy is current, the officer may only give you a ticket and not tow your vehicle.  You won’t even have to pay for the ticket though if you bring your proof of insurance to the court house.  You have to have an insurance policy that was current at the time the ticket was issued.

You May be Financially Responsible

If you get in a wreck and are found to be at fault, but don’t have car insurance, you’ll most likely be financially responsible for the other driver’s repair bills and medical expenses.  If you are unable to pay, the other driver could sue you, which also means lawyer fees on top of all the other expenses from the crash.

You can’t Run From the Law

In Arizona, the police run random tests to see if registered vehicles are insured, and if they aren’t, the police will suspend the owner’s license.  Arizona utilizes active monitoring and has a database to reference for information concerning registered vehicles with and without insurance coverage.

SR-22

After the DMV electronically finds out that you haven’t had insurance for a certain period of time, after your license and/or registration gets suspended, when you do get insurance, you will be required by the state to get an SR-22 on your auto insurance.  An SR-22 is something that hooks onto your insurance policy that electronically tells the DMV every month that you are still maintaining insurance, if you let your insurance cancel they will fast track your license and/or registration getting suspended again.  Typically, you are required to have an SR-22 for 3 years.

Big Rate Increase When You Get a New Policy

Whenever you have a lapse in coverage and you go to get a new policy, you will have a “surcharge” of about 30% due to not maintaining a policy.  Some companies do offer a grace period of a lapse of 30 days or less, but most don’t.

Insure Your Vehicle

It’s better to simply insure your car and keep coverage on it without any lapses between policies, even if it’s a few days.  You’ll avoid run-ins with the law, large fines, license suspension, impounds, huge financial burdens and so many other headaches that aren’t worth it.  Trying to save money by not paying for insurance is never worth it and is definitely illegal.  Talk to an agent today about getting your automobile the coverage it needs.