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.

I am Borrowing my Friend’s Car, Am I Covered?

Most people have an idea of what’s covered and not covered under their various insurance policies. But here at INW Insurance Group, we get a lot of questions about borrowing or loaning a car. Now that the weather is warming up here in Mesa, AZ, you might be looking to borrow your neighbor’s truck for a home-improvement project or a trip to the local landfill, we thought it was a great time to provide a little more information. Generally, auto insurance coverage follows the vehicle rather than the driver. So in most instances, as long as the owner of the car has insurance, it’s covered even if someone other than the owner is driving it — as long as they have the owner’s permission.

It’s important to note that there are some exceptions to what is called “permissive use” coverage. Permission must be given by the owner, unless the borrower has a reasonable belief that they can use the car. However, the borrower cannot give permission to someone else.  If your teenager allows one of his or her friends to drive your car around Mesa, your coverage likely won’t apply. Coverage might also be denied if the borrower operates the vehicle in a negligent or criminal manner. If the borrower is using your car for business purposes, your personal auto policy likely won’t cover that either. If you have a regular long-term arrangement to either borrow or lend a car, the borrower should probably be added to the owner’s personal auto policy. Those who don’t own a car, but often borrow one, might also consider “named non-owner coverage,” an endorsement that provides bodily injury and property damage liability, uninsured motorists coverage and more.

Ultimately, it’s usually safe to loan your friend your car for occasional errands or projects. And the same goes for borrowing a car. Just make sure it’s for “normal” use. You’ll want to confirm that the car has coverage and that your car insurance, whether you’re the owner or borrower, will apply. Feel free to give INW Insurance Group a call if you have any questions — after all, you don’t want to wait until after an accident to get answers!

 

 

Do You Need to Upgrade Your Home Insurance for 2018?

The onset of a new year is a good time to review your homeowner’s insurance to see if you need to update your policy. Major changes in your home or lifestyle could affect your coverage or make you eligible for discounts on insurance costs. An insurance upgrade may be necessary for 2018 due to:

Major Home Renovations

If you made major renovations to your Mesa, AZ home in 2017, i.e. kitchen overhaul, new deck, bathroom remodel, you’ll need to update your home insurance to protect these assets.

Major home improvements also increase the value of your property, requiring that you reassess your policy’s property damage limits to ensure they still cover the cost of repairing or replacing your abode in the event of a loss.

Some home improvements such as installing a home alarm system or upgrading your plumbing could qualify you for a discount on your policy. By discussing renovations with your INW Insurance Group agent, you can see what effect they have on your insurance coverage.

Change of Lifestyle

Sometimes a change of lifestyle can affect home insurance coverage or costs. If you retired in 2017 or quit smoking, you could be eligible for a discount on your policy. If you added a new pool or home gym to get more exercise, you may need additional liability coverage to protect you against accidents.

Pricey Items

You may have received pricey gifts in 2017 such as posh jewelry or expensive electronics that need to be added to your 2018 home insurance policy to protect them against theft or loss. By reviewing your policy, you can see if you need to increase your limits or obtain extra coverage to protect these goods.

An updated home insurance policy from INW Insurance Group serving Mesa, AZ, will protect your interests for 2018.

How Umbrella Insurance Supercharges Your Vehicle

You might think the only way to supercharge your vehicle is to amp up the engine and “trick out” the rest of vehicle. However, you might be surprised to realize the true way to supercharge your vehicle in Meza, AZ. To truly make your ride an extreme vehicle, you should actually amp up your insurance policy.
Get Umbrella Insurance
You might have a temporary lapse in judgment when driving that results in an accident. Your insurance might cover the cost of your injuries as well as the price of your repair bills. The policy might even allot you money to rent a car. You do have insurance in the event another driver gets hurt, but with the high cost of medical expenses nowadays, your policy limits might not cover all of the bodily harm caused to the other person. Not to mention, if the person wants money to cover the cost of pain and suffering along with the expense of the time he or she has to be off work, you could easily find yourself seeing hundreds of thousands of dollars worth of a lawsuit. Typically, a standard policy doesn’t have these types of limitations.
You can supercharge your car by having an insurance policy that protects your assets. Keep in mind, if you end up having to pay expenses out of your own pocket, it could harm your ability to pay for your current car. You definitely aren’t getting the most of your vehicle, no matter how nice it looks, if you’re not able to cover all of the expenses of it due to a pending lawsuit.
To get a quote for an umbrella insurance policy, contact INW Insurance Group, serving Meza, AZ and the surrounding area, by calling 480-626-0797.