How does auto insurance in Arkansas protect me?

Car owners throughout the Harrison, AR area will find that owning a vehicle can make it far easier to get around the state and local community. While there are plenty of reasons to own a car, it is important to remember that it is an important responsibility. One aspect of owning a car that you need to take seriously is the need to get insurance. An auto insurance policy for your Arkansas vehicle will cover you in several ways. 

Covers Your Car

A great reason to have an auto insurance plan here is that it can cover your car. If you buy a vehicle here, you will need to ensure your investment is secure. The best way this is done is with insurance. When you have a comprehensive and full collision plan, you will get support to replace or repair your vehicle if it is stolen or damaged in any way. If you also have an auto loan, your lender will require you to carry full coverage. 

Liability Risk Mitigation

It is also a good idea to get auto coverage to mitigate your liability risks. Anyone who drives a car could cause a collision. If this happens to you, it will be your responsibility to cover the damages. Fortunately, if you do carry an auto insurance policy, you will have financial resources to cover these expenses. 

An auto insurance plan is a good investment due to the benefits that it provides to policyholders. If you want this insurance in the Harrison, AR area, you should call our team with Foresee General Insurance Agency Inc. Our insurance team at Foresee General Insurance Agency Inc. knows the value of this coverage and will ensure you choose the ideal policy that meets your needs. 

The Role of Business Valuation in Commercial Insurance: Accurate Coverage for Asset Protection

Commercial insurance is a critical component of risk management for businesses of all sizes in and around Harrison, AR. It protects against unforeseen events disrupting operations or resulting in financial losses. One crucial aspect of commercial insurance is business valuation, which is significant in ensuring businesses have accurate coverage to protect their assets. 

Business Valuation in Commercial Insurance

In the context of commercial insurance, business valuation is essential for several reasons:

  • Accurate Coverage: Commercial insurance policies must provide adequate coverage to protect a business’s assets, including property, equipment, inventory, and intellectual property. 
  • Risk Assessment: A comprehensive valuation helps insurers understand the insured company’s financial health and potential risks.
  • Premium Determination: A more accurate valuation can result in fair and competitive premium rates.
  • Claims Settlement: In the event of a covered loss, business valuation helps determine the amount of compensation the insured business is entitled to receive. 

Factors Considered in Business Valuation for Insurance

Several factors are considered when conducting business valuation for insurance purposes:

  • Asset Valuation: The value of tangible assets, such as real estate, equipment, and inventory, is assessed based on market conditions and replacement cost.
  • Income Evaluation: The company’s earnings and cash flow are analyzed to determine its income-based value. This is particularly relevant for businesses with significant intellectual property or intangible assets.
  • Market Analysis: Market conditions, industry trends, and competitive landscape are evaluated to understand how external factors impact the business’s value.
  • Liabilities and Debt: Existing liabilities and debt obligations are factored into the valuation to provide a comprehensive picture of the business’s financial position.

Foresee General Insurance Agency Inc. Can Help You

At Foresee General Insurance Agency Inc., we can help answer questions concerning commercial insurance. We serve the Harrison, AR area. Contact Foresee General Insurance Agency Inc. today. 

Does my home policy cover my home office business equipment?

Foresee General Insurance Agency Inc. wants your home insurance to work hard for you so it adequately protects your Harrison, AR home. You might wonder if your home policy protects the business equipment you bring home from work.

Business Equipment Gets a Tiny Bit of Protection

Home policies only cover personal property, and some policies provide as little as $1,000 of coverage. You probably own more than $1,000 worth of items, so you would need to add additional personal property coverage.

Some home policies offer no business equipment coverage, while others offer a modest amount – typically about $500. That might seem odd in today’s work-from-home environment, but the insurance industry offers specific types of coverage for each property type. Adding a home business rider can cover home office equipment and the occasional piece of office equipment you bring home, such as your office laptop.

Expanding Your Business Equipment Coverage

Depending on the underwriter and state law, you can increase your coverage up to $10,000 for business equipment on your home insurance in some locations. This helps ensure you don’t have to pay a huge amount out of your pocket if something occurs.

Contact Foresee General Insurance Agency Inc. Today

Call or email Foresee General Insurance Agency Inc. today to learn more about how to protect your business equipment used in your Harrison, AR home. Let us help you make the most of your home insurance. We can help you determine the amount of coverage you need and how to add it through a rider or an increase in policy amounts.

When Should You Update Your Auto Insurance Coverage?

When was the last time you thought about your auto insurance? If you’re not reviewing your policy annually, you could lose out on valuable coverage or pay extra for unnecessary coverage. Changes in your life or lifestyle could impact your auto insurance, and you may need to update your policy to maintain accurate coverage. At Foresee General Insurance Agency Inc. in Harrison, AR, we’ve compiled a few examples of when it may be necessary to update your auto insurance.

Moved to a New Location

A move to a new city or state will require that you update your contact information on your policy. If you move from a rural to an urban area, you may want extra insurance protection to cover the risks of city driving. If you move out of state, you may need to update your policy to reflect the insurance requirements of your new state.

Adding Drivers to Your Household

New drivers to your household will need to be added to your insurance policy if they are driving your vehicle regularly. Putting them on your policy ensures they’re fully protected against any eventuality.


If you’re driving less due to retirement, you may not need as much coverage as when you had a daily commute to and from work. Talk to your agent about updating your coverage to reflect new driving habits. Reducing your coverage could save you money in the long run.

Change of Vehicle

A change of vehicle will require an update to your insurance coverage. If you’re financing a new vehicle, your lender may require more extensive coverage to protect his investment. You can discuss coverage options with our agent to ensure you get the protection you need.

For help updating your auto insurance policy, contact Foresee General Insurance Agency Inc. in Harrison, AR.

What You Need To Know About Umbrella Insurance

Understanding the different types of insurance coverage available is essential to make smart insurance choices. Here at Foresee General Insurance Agency Inc., serving Harrison, AR, we are committed to helping our clients develop a good insurance education. Keep reading to learn more about umbrella insurance. 

Umbrella Coverage

Umbrella coverage is a special type of insurance policy designed to provide coverage when other insurance policies are exhausted. This type of insurance can help you avoid costly liability expenses that could put you in a vulnerable financial situation. 

Policy Exhaustion

In the insurance industry, policy exhaustion refers to a policy reaching its payout limit. Each type of insurance policy you might purchase will have a limit on how much the policy will pay in a claim event. When the policy has paid this amount, the policy has been exhausted. If this happens and there are still expenses left to be paid, those expenses would be the individual’s responsibility. 

Financial Vulnerability 

If an individual faces a considerable amount of out-of-pocket liability expenses, it could place them financially vulnerable. This could be detrimental to their financial security in the short term as well as the long term. 

Umbrella Protection 

When an umbrella policy is in place, it can kick in to pay remaining expenses if another policy has been exhausted.

Umbrella insurance is recommended for people with many assets they want to protect from liability, as well as for people involved in high-risk occupations or hobbies. It can also benefit people who conduct activities on their own property that could be considered high-risk as well. Anyone can benefit, though, from this extra layer of protection.   

Contact us at Foresee General Insurance Agency Inc., serving Harrison, AR, and the surrounding areas to learn more. 

Do I need flood insurance in addition to my homeowner’s policy?

Do you live in an area prone to flooding in Harrison, AR?

If so, there is a chance that your homeowner’s policy won’t cover damage caused by floods. Flood insurance from Foresee General Insurance Agency Inc. is essential to protect your home and assets in the event of a flood. Even if you don’t live in a high-risk area, consider obtaining flood insurance, as it can provide peace of mind should the unexpected occur. 

Most standard homeowner’s insurance policies do not cover flood damage, and even if coverage did exist, it would likely not be enough to indemnify the property owner against losses fully. To be adequately protected against flooding, homeowners must purchase a separate flood insurance policy from the National Flood Insurance Program (NFIP). The NFIP provides different levels of coverage for buildings and their contents, allowing homeowners to choose the protection that best suits their needs.

It is important to note that most flood insurance policies have a waiting period before they become active, and there may also be deductibles associated with the coverage. When purchasing flood insurance, ensure you understand these terms and conditions thoroughly before committing yourself. 

If you live in an area prone to flooding or are worried about potential damage from floods in the future, it is highly recommended that you obtain an additional flood insurance policy alongside your existing homeowner’s policy. This will ensure complete protection against any losses incurred due to flooding events.

For more information, call us at Foresee General Insurance Agency Inc. today. We proudly serve the Harrison, AR area and gladly assist you.

What value comes with having condo insurance in Arkansas?

Anyone living in the Harrison, AR area should consider owning a home. One type of housing option to consider is investing in a condo. If you buy a home, it is essential to get the right insurance for it. Investing in a condo insurance plan is always a good idea as it will offer various benefits and forms of value. 

Protect Your Assets

One of the benefits that come when you have condo insurance in Arkansas is that you can protect your assets. If you purchase and move into a condo, you will make a considerable investment that you want to pay off in the long run. A great way to protect your investment is by getting condo coverage, which will support your dwelling and personal belongings. 

Comply with Obligations

Getting condo insurance in Arkansas is also a good idea to ensure you comply with any obligations. If you choose to purchase a condo, you will likely have various requirements. This can include the requirements set by both a home and condo association and requirements set by a mortgage lender. When you do obtain a full condo plan, it will keep you in good standing with such obligations. 

If you purchase a condo in the Harrison, AR area, you will want to know that you are getting the correct type of coverage to protect your dwelling and keep you in compliance. A great way to start is by calling our Foresee General Insurance Agency Inc team. When you call our professionals with Foresee General Insurance Agency Inc., you will receive customized guidance to cover you adequately. 

Types of Life Insurance – All You Need To Know

You probably do not want to think about life insurance. However, we all have loved ones and never know what can happen. Therefore, we want to ensure that the people we love are financially secure and protected if something happens to us. For this reason, it is worth getting life insurance that provides proper financial protection. 

If you are currently shopping for life insurance, you should know about its two main types:

What Are The Types of Life Insurance?

Here are the two main types of life insurance to choose from:

  • Term life insurance- This type of life insurance is valid for a limited amount of time. Term lengths are different but are not longer than 30 years. Every time the term period ends, you can renew the policy. However, every renewal usually increases the premium.
  • Permanent life insurance- This life insurance type lasts your lifetime, meaning that it does not expire. However, you should know that permanent life insurance is always more expensive than term life insurance. In addition, this type often includes a cash value component.

Foresee General Insurance Agency Inc. – Serving Clients in Harrison, AR

If you live in Harrison, AR, or any other nearby town, and you are shopping for life insurance, do not look any further and contact Foresee General Insurance Agency Inc. Our experienced and knowledgeable agents will help you choose the best insurance policy based on your preferences and insurance needs. They will answer all the questions you may have. You are welcome to check out the website or give us a call at any time. 

Three mistakes to avoid when you buy auto insurance in Arkansas

Getting auto insurance is important for vehicle owners driving on roads in Harrison, AR. When looking for a policy, consider the auto insurance coverage offered by Foresee General Insurance Agency Inc. to meet your insurance needs.

Unfortunately, consumers sometimes make auto insurance mistakes that lead to negative consequences down the road. The following are three mistakes to avoid when you buy auto insurance in Arkansas. 

Being unaware of minimum coverage requirements in Arkansas

In Arkansas, there are specific liability coverage requirements in effect. Motorists need to meet these minimum coverage requirements at least.

In Arkansas, motorists are required to carry $25,000 in bodily injury coverage per person per accident and $25,000 in property damage coverage. 

Purchasing only liability coverage

Law only requires you to carry liability coverage on your Arkansas auto insurance policy. However, that doesn’t mean you shouldn’t carry other types of coverage. 

If you want to make sure that your auto insurance policy adequately protects your vehicle’s value, you should add comprehensive and collision coverage to your insurance policy. 

Buying a policy before you compare quotes

Getting quotes on auto insurance policies is crucial to becoming aware of all available options. The auto insurance policy you choose is important and can impact your future finances.

That’s why you need to carefully evaluate a few different quotes. Evaluate quotes not only based on their cost but also the amount of coverage that they will provide you with. 

We can provide you with a quote on an Arkansas auto insurance policy at Foresee General Insurance Agency Inc. Call us today to learn about the auto insurance offers we provide to consumers in Harrison, AR. 

Why Entrepreneurs Need to Consider Startup Costs Like Insurance

Starting a small business is a dream come true for many people. You get to be your own boss, can enjoy the fruits of your labor, and can build the company as you see fit. Starting a business comes with risks, and considering the total costs, including commercial insurance, is essential.

Starting or running a business near Harrison, AR? Contact Foresee General Insurance Agency Inc.

Starting a Business Comes With Risks

The Bureau of Labor Statistics reports that roughly one in five new small businesses will fail within the first year or so. Nearly half will close shop within about five years. For better or worse, starting a small business comes with many risks.

Often, business owners must shoulder most of those risks. For example, this may mean providing the funding to pay for staff and equipment. The entrepreneur may be on the hook for the sunk costs if the business fails.

Besides being pushed out of the market by competition, businesses face many other challenges. For example, what happens if a criminal breaks in and steals or vandalizes equipment? What if a customer slips on a floor, gets injured, then demands that the business pay damages? Or what if a significant storm produces tornadoes that then cause extensive damage?

Without insurance, the entrepreneur may be on the hook for all of the above (among other things). Commercial insurance policies, however, will protect businesses from many things. It’s crucial to read the fine print of specific insurance plans, but some plans will cover theft, fire, severe weather, burst water pipes, and more.

Fortunately, entrepreneurs who live in or near Harrison, AR can contact Foresee General Insurance Agency Inc. to learn more about commercial insurance options.