How Does Umbrella Insurance Work?

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Your home is important to you. That is why you protect it with homeowner’s insurance. The same holds true with your vehicle. When you are considering insurance, talk with the agents at Shaner Insurance Group, Inc. Through serving residents in the Tucson, AZ area, they understand the needs that residents have. During that discussion, they may ask you to consider the additional coverage of an umbrella policy. This additional coverage is often not fully understood by consumers. 

Umbrella insurance provides additional liability coverage beyond your homeowners and auto policies. They are designed to kick in and provide the extra protection of your assets at a time when you need it most. When an accident occurs for which you are deemed responsible, your insurance policies provide coverage for the damages. If the injured party sues you, it can also provide funds to cover medical and legal expenses. However, there are some events where the medical and court costs exceed the limits of the policy. That is when umbrella insurance provides additional liability coverage. For instance, if you are a parent participating in a carpool or taking children to after-school activities and there is an accident, the medical expenses and legal fees could exceed the coverage provided by your auto insurance.  If your policy covers up to $350,000 but the expenses are $500,000, you will be responsible for the balance. An umbrella pol
icy will cover those additional expenses, in some cases, up to $1 million. Umbrella policies will also cover events not covered by other policies such as slander and libel cases. 

The team at Shaner Insurance Group, Inc. works to ensure that their clients in the Tucson, AZ area have the coverage that they need. Visit them! They work hard to get you the coverage you need. 

Have a Home-Based Business? Is It Properly Insured?

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Home-based business are becoming rampant in today’s society. While you may enjoy working from the comfort of your home, you need to consider protecting your business from unforeseen contingencies. Having a homeowner’s insurance policy in Arizona does not guarantee you protection because the policy is not designed to cover business activity.

Therefore, if you operate a business out of your home, you need to ask yourself the following important questions:
•    Do I get visits from customers to my home?
•    Would I lose my source of income if I had to close my business because of damage to my home?
•    Do I preserve client or employee records on my computer?
•    Do I maintain inventory or supplies in my premise or at off-site job locations?
•    Do I have employees working from my home?

If the answers to these questions are positive, then consider a homeowner’s policy from Shaner Insurance Group, Inc. Arizona. With the appropriate coverage, your business could be financially accountable for any damage in terms of employee injuries, data loss, lawsuits and property damage.
Home-based businesses can range from small consulting practices to large online retail operations. For this reason, Shaner Insurance Group offers different coverages that can cater for the needs of any home-based business in an economical manner. These coverages include:

General Liability Policy– this coverage is suitable if you don’t have inventory or equipment in your home. It protects you from lawsuits as a result of personal injury, negligence, or faulty products.
Business Owner’s Policy – it covers structures on your property, damage to inventory, or loss of business income because of harm brought about by high winds or fire. A standard business owner’s policy puts together property and liability coverage.
Business Owner’s Policy with Endorsements – you can customize your business owner’s policy with extra endorsements such as Data Breach if you maintain personal information regarding your clients.

Feel free to contact Shaner Insurance Group, Inc. for more information about insuring your home-based business in Arizona.

 

 

How Does a Deductible Work With Health Insurance?

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If you are looking to obtain health insurance, you may find yourself confused about deductibles and co-insurance. This is a common source of confusion with those looking to obtain health insurance in the greater Tucson, AZ area. In fact, it is the source of many of the questions that we at Shaner Insurance Group Inc. are asked. Here is a bit of information you may want to know about deductibles and co-insurance if you are looking to obtain health insurance. 

Deductibles

Many health insurance policies have a deductible. You have to pay this deductible before your insurance or co-insurance and co-pays begin to kick in. There may be some exceptions to this. Some policies will offer one or two wellness visits per year that you simply pay a co-payment for, even before your deductible kicks in. It is also important that many polices have individual deductibles and family deductibles. Pay close attention to what these amounts are when selecting a policy. 

Co-Insurance and Co-Pays

Co-Insurance and co-pays typically only kick in once you have met the individual or family deductible for your health insurance policy. Once this has been met, you will be required to pay the co-insurance amount or co-pay for your health services that are covered. The amount for these co-pays and co-insurance payments typically varies based on the services rendered and whether you are seeking treatment in or out of the your network. It is important to pay attention to all of these factors so you know what you will be required to pay when selecting  a policy. 

If you are looking to obtain health insurance in the greater Tucson, AZ, Shaner Insurance Group Inc. can help guide you through the selecting and buying process. Call our office today to get started.