Three Types of Coverage in Your Home Insurance Policy

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As a homeowner, you’re most likely aware of the necessity for home insurance. It might be required by your lender, Homeowners Association (HOA), or property covenants. Even if it’s not mandatory, protecting yourself with suitable coverage is crucial. Home insurance policies provide various types of coverage. If you’re interested in starting a home insurance policy in Harrison, AR, feel free to contact our team at Foresee General Insurance Agency Inc.

House Coverage

This type of coverage pays for damage caused to the dwelling in the event of a covered incident. A multitude of events, including accidents and disasters, can cause significant damage to a home. If such a situation arises, you’ll want your home insurance in place to cover the repair costs. This coverage can make the difference between restoring your home to a livable condition and being left with a hefty repair bill.

Item Coverage

Your home’s items are valuable, and replacing them can be quite costly. Consider how much it would cost to replace the items in just one room area, and it’s clear how much it can add up if one or more rooms suffer major damage. With home insurance, you can get your items replaced.

Liability Coverage

This type of coverage shields you if someone sustains an injury while on your property. You could be held liable for damages and associated costs when this happens. Liability coverage pays for the injured party’s medical costs and other related expenses.

Get Your Home Insurance Today

If you need a home insurance policy, contact Foresee General Insurance Agency Inc. in Harrison, AR. We’re here to help you safeguard your home and valuables.

Should a Couple Combine Auto Coverage When They Marry?

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At Foresee General Insurance Agency Inc., we extend our best wishes to all happy couples embarking on marital bliss in Harrison, AR. Many couples combine their auto insurance upon marriage as it often decreases premiums. However, things don’t always go as planned.

When Couples Should Combine Auto Insurance

If both spouses have good driving records, their premiums are generally quite affordable. Marriage reduces perceived risk for insurance underwriters because statistics show that married people tend to drive safer than single. As a result, auto insurance premiums typically lower further when couples combine policies.

When to Keep Your Auto Insurance Separate

Combining auto insurance isn’t always a good idea, as exemplified by the TV show The Closer, which features Brenda and Fritz. On the show, Fritz gets pulled over for drunk driving while single, which can increase insurance rates due to the loss of DUI/DWI points. When Brenda inquires about joint insurance premiums, she finds them more expensive than her current plan.

The TV show illustrates real insurance industry realities: Marriage may not decrease premiums if either spouse has a poor driving record. It’s best to glean lessons from these fictional scenarios to prevent real-life insurance issues.

How to Approach Insurance and Marriage

Before tying the knot, have an open conversation about each spouse’s financial history and future goals. Know that building a plan based on honesty sets you on the right track. If you’ve been found negligent in an accident, received a DUI/DWI, or have a poor driving history for any other reason, inform your future spouse.

Contact Foresee General Insurance Agency Today

Once you’ve decided on your auto insurance approach, reach out to Foresee General Insurance Agency Inc. We serve Harrison, AR residents by providing them with the necessary insurance. Give us a call today.

Umbrella Insurance FAQs

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Have you heard of umbrella insurance? Do you have questions about it? We offer umbrella insurance at Foresee General Insurance Agency Inc. in Harrison, AR. Today, we are here to answer your questions. 

What Does Umbrella Insurance Cover?

Umbrella insurance covers personal liability that exceeds the limits of your home and auto policy coverage limits. For example, if you are responsible for a million-dollar auto accident, your auto policy may cover $250,000 or $500,000. The umbrella policy would cover the rest. 

It also covers things that aren’t covered by your standard policies. These include slander, libel, wrongful eviction, wrongful entry, and invasion of privacy. 

What are the Coverage Limits for an Umbrella Policy?

Umbrella coverage is typically sold in increments of $1 million up to $5 million. Some policies may go up to $10 or $20 million. 

Is My Family Covered as Well? 

Umbrella policies typically offer coverage for household members, including spouses and children. However, the coverage provided may vary depending on the policy. 

Do I Need Umbrella Insurance? 

Today, everyone should consider umbrella insurance. If you are responsible for an accident that causes major damage to someone’s property or serious injury, you may be faced with an expensive liability claim. A personal umbrella policy will give you peace of mind and protect your financial security. 

How Much Umbrella Insurance Do I Need? 

Generally, you should have umbrella coverage equal to or greater than your assets. If you have $1 million or less in assets, you should have a $1 million umbrella policy. If your assets are greater than $1 million, consider more coverage. 

Umbrella Insurance at Foresee General Insurance Agency Inc.

If you need umbrella insurance in Harrison, AR, contact Foresee General Insurance Agency Inc. Our agents are here to discuss your needs and help you select the best policy. 

Three Reasons to Get Flood Insurance

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When you’re buying a home, one of the things that you must consider is whether to get insurance. If you live in an area that’s at risk of flooding, you’ll have to decide whether to get flood insurance.

At Foresee General Insurance Agency Inc., servicing Harrison, AR, we help homeowners and home buyers find flood insurance for their needs. Below are three reasons you may want flood insurance for your home. 

1. Standard Home Insurance Doesn’t Cover Floods

Home insurance covers a variety of perils, including fire, vandalism, lightning strikes, and wind damage. However, standard home insurance policies don’t cover damage from flood. If you don’t have flood insurance and your home is damaged by flood water, you’ll have to pay for your repairs out of pocket. 

2. Flood Recovery Is Expensive

Flood recovery can be extensive and expensive. When water seeps into a home, it has very little time to dry out before it can grow mold. In addition, flood water is toxic and can cause extensive damage even after dries. In other words, many things that are touched by floodwaters are ruined by them, and that means making repairs and replacements can be costly. 

3. Your Lender May require Flood Insurance

If you’re getting a mortgage for a home in a Special Flood Hazard Area, your lender will most likely require you to get flood insurance to protect your investment. This protects the bank and the buyer since it helps ensure that if the home is damaged in the flood, repairing it is more affordable. 

Do you think you need flood insurance? Contact Foresee General Insurance Agency Inc., servicing Harrison, AR, to get started. 

Condo Insurance Coverage Add-Ons You May Need

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Condo insurance add-ons are enhancements that may fill in potential gaps. Review the add-ons below. These are just some coverage types you may benefit from purchasing.

Land and Shrub

If you are responsible for landscaping your property, the landscaping materials you purchase can be added to your condo insurance policy. For instance, the coverage would protect the plants from damage or theft if you own shrubs.

Medical Expenses

Medical expenses covered through an add-on product will prevent you from being liable for injuries at your condo. This add-on will pay for the medical products or services you need while residing in your condo.

Utilities

If you are responsible for installing and maintaining utilities, an add-on that protects them will cover the cost of repairing or replacing the original materials.

Limited Replacement Cost

A limited replacement cost add-on will protect your investments. This type of coverage will ensure that your possessions do not depreciate in value.

Instead, you will receive the fair market value of any possessions that are damaged or stolen from your condo. If you own a lot of valuables, you may benefit significantly by purchasing a limited replacement cost policy.

Refrigerated Products

An add-on that covers refrigerated products will protect against loss that occurs if you can’t keep perishables refrigerated. If you cannot refrigerate your food, the food that was originally in the refrigerator will be covered by your condo insurance add-on.

Contact Foresee General Insurance Agency Inc.

Contact one of our Foresee General Insurance Agency Inc. agents. An agent who serves the Harrison, AR region will tell you about condo insurance policies and add-ons that you qualify for.

Life Insurance. How Much is Enough?

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If you are considering life insurance, now is a great time. Rates generally increase with age and deteriorating health. At Foresee General Insurance Agency Inc., we serve the Harrison, AR, area with various life insurance products to help you achieve your goals.

But when it comes to life insurance, how much is enough?

What Are Your Responsibilities?

The greater your financial responsibilities, the greater the need for life insurance. Do you have a mortgage, car payments, credit card debts, and personal loans? Do you have a business? Do you want your family to maintain its lifestyle and provide for a college education?

As you can see, the amount of life insurance you need can add up quickly. This doesn’t even include final expenses, which can easily exceed $10,000.

Do You Have Significant Assets?

Owning significant assets, having a large investment portfolio, and having savings can reduce the need for life insurance. However, keep in mind that you may want these assets passed on to your children and loved ones.

What Can You Affordable?

Of course, it will still likely come down to how much life insurance you can afford. This is where our team can help.

Contact Us for a Quote Today

We invite you to contact us at Foresee General Life Insurance Agency to discuss your needs, goals, and life insurance options. We can quote a variety of plans to best suit your budget. Even if you may not be able to get everything you want, you can start building your insurance program today. Contact us at Foresee General Insurance Agency Inc. of Harrison, AR, and get started today.

The History of Auto Insurance

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A Glimpse into the History of Auto Insurance

Given that cars are a relatively recent phenomenon, auto insurance is a comparably modern convention. Nonetheless, the concept of insurance bears a much longer history. In this piece, we will journey through the evolution of insurance, with a special focus on auto insurance. If you have inquiries about coverage or policy choices for auto insurance, feel free to contact Foresee General Insurance Agency Inc., which proudly serves Harrison, AR.

The Evolution of Insurance Through Ages

Insurance, in elemental forms, has been in existence for millennia. Going as far back as 1750 BC, there are mentions of insurance for sea shipping in the Code of Hammurabi. During the medieval era, trade guilds occasionally offered compensation if a member’s forge or other properties were destroyed by fire. With the increased global shipping in the 17th and 18th centuries, shipping insurance saw a boom. Subsequently, Ben Franklin started a fire insurance scheme in Philadelphia in 1751.

Moving forward, auto insurance came onto the scene comparatively later. The first automobile invention dates back to 1886, and by the turn of the 19th century, cars were becoming considerably common in some regions. The first auto insurance policy is believed to have been procured by Gilbert J. Loomis in 1897 in Ohio.

In 1925, Massachusetts took the lead as the first state to make auto insurance mandatory. New York followed suit in 1956, North Carolina in 1957, and by 1970, car insurance policies were required in most states. However, coverage mandates vary from state to state, so consulting with an insurance agent is advisable.

If you or your loved ones need guidance in selecting an auto insurance policy, reach out to the Foresee General Insurance Agency Inc., serving Harrison, AR, for assistance.

Is commercial insurance in Arkansas necessary for all businesses?

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If you are an aspiring business owner, the Harrison, AR, area can be a great place to own a company. If you would like to own a business here, there are a lot of choices that need to be made. One important choice will come when you need to build a new insurance plan. Having a commercial insurance policy will be necessary in various situations. 

Meet Obligations Set by Various Parties

A reason that you will need to have commercial insurance is so you can meet the obligations set by various parties. Those who start a business will need to raise capital, take out loans, lease space to operate, and enter into various contracts with customers and vendors. Many of these agreements will have specific commercial insurance requirements for the business to maintain. If you do not comply and provide evidence of coverage, it can lead to a violation and penalization. 

Protect Business

Even if your business does not have a specific insurance requirement, carrying this insurance is still a good idea. When you are looking to build a business, you will find that commercial insurance offers many advantages and forms of coverage. This includes support to replace your core assets or manage your commercial liability risks, providing valuable financial protection. 

If you own a business and are in the Harrison, AR, area, you will always want to ensure you have the right commercial coverage. A great way this can be done is by calling our team with Foresee General Insurance Agency Inc. Our team of professionals with Foresee General Insurance Agency Inc. will help you evaluate your needs and build a plan that will keep you supported and protected at all times. 

Commercial Auto Insurance for the Gig Economy: Coverage Considerations for Rideshare and Delivery Drivers

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In the gig-driven economy of Harrison, AR, Foresee General Insurance Agency Inc. stands ready to assist rideshare and delivery drivers with their unique insurance needs. Today, let’s explore key considerations for commercial auto insurance tailored to those thriving in the gig economy.

Understanding Gig Economy Insurance Needs

The surge in rideshare and delivery services has reshaped employment, emphasizing the need for specific insurance coverage. Foresee General Insurance Agency Inc., serving Harrison, AR, recognizes the distinctive requirements that accompany gig work.

Tailored Coverage for Rideshare Drivers

Foresee General Insurance Agency Inc. acknowledges the evolving nature of gig work. For rideshare drivers, having the right insurance is crucial. Traditional personal auto insurance may fall short during commercial activities, making specialized coverage essential.

Key Coverage Considerations:

  1. Commercial Liability Insurance: Rideshare drivers require robust liability coverage to safeguard against injury and property damage claims. Foresee General Insurance Agency Inc. guides drivers in determining appropriate liability limits for their unique circumstances.

  2. Coverage Gaps: Standard personal auto insurance may not cover accidents during active rideshare or delivery services. Commercial auto insurance fills these gaps, ensuring comprehensive protection.

Navigating Insurance Challenges

In the ever-changing gig economy landscape, navigating insurance challenges is critical. Foresee General Insurance Agency Inc. simplifies this process, offering personalized guidance to ensure Harrison, AR, rideshare, and delivery drivers are adequately covered.

Consult Foresee General Insurance Agency Inc. Today

For gig workers in Harrison, AR, Foresee General Insurance Agency Inc. is the go-to source for comprehensive commercial auto insurance. Consult our knowledgeable agents today to discuss your specific commercial insurance needs. Let us craft a policy that provides peace of mind as you navigate the gig economy’s roads.

Natural Disasters and Home Insurance: Are You Prepared?

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Natural disasters can strike anytime, leaving homeowners vulnerable to significant financial losses. Securing your investment calls for having a reliable home insurance policy, yet it’s crucial to recognize that not all policies cover the complete range of disasters. Here’s a guide to assist you with preparing before a natural disaster strikes.

  • Know Your Policy: Take the time to review your policy and understand any exclusions. Consulting with us can ensure that you have comprehensive coverage for potential disasters in your particular area.
  • Flood Insurance: Floods, a common natural disaster, are often not covered by standard policies. Contact Foresee General Insurance Agency Inc., located in Harrison, AR, and the surrounding neighborhoods to secure the appropriate coverage before heavy rain or storms.
  • Fire: With the increasing frequency of wildfires, understanding your policy is crucial for comprehensive coverage against potential fire damage. Our team can provide guidance to make your property fire-ready.
  • Earthquake Coverage: If you reside in an earthquake-prone zone, check your policy to ensure adequate coverage, especially in the event of seismic activity. Don’t underestimate the potential impact an earthquake can have on your property.
  • Evaluate Potential Risks: Proactively understand evacuation routes and maintain an emergency kit for preparedness. Being proactive can make all the difference when it comes to staying safe during a crisis.

Feel confident in your home insurance coverage today by contacting Foresee General Insurance Agency Inc., serving Harrison, AR, and surrounding regions. Our team will conduct a thorough policy review, offering personalized guidance to enhance your coverage. Don’t wait for disaster to strike. Contact us now for peace of mind in the face of a natural catastrophe. You and your home will thank us.