Condo Insurance Coverage Add-Ons You May Need

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?

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.

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.

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. 

Get Covered: The Benefits Of Umbrella Insurance

Umbrella insurance provides additional coverage if you exceed the limits of your primary insurance policy. The policy comes in handy to protect your assets and financial future in case of a worst-case scenario. It typically covers professional expenses, legal costs, or loss of income if you are ever sued for something covered by your primary insurance policy, such as car accidents or home accidents. For guidance in Harrison, AR, consult Foresee General Insurance Agency Inc. 

How Does Umbrella Insurance Work 

Umbrella insurance is a supplemental policy that works as a safety net for your current insurance plan. It provides an added layer of protection against high-risk scenarios and can be purchased as a stand-alone policy or added to another policy, such as car insurance. The insurance can help you cover the costs of repairing or replacing your car if it is damaged in an accident where another driver was at fault, pay for medical expenses if you are in a car accident and injured, or cover legal fees if you are sued for something related to your car. 

An umbrella policy can also help protect you from liability if you are hosting a social gathering at your home and a guest is injured due to negligence, such as serving alcohol to an underage guest. It can protect in case of a significant accident or unforeseen event. 

  • What it covers: Umbrella policies typically cover expenses above a certain threshold, such as $1 million.
  • Who it’s best for: People with a standard insurance policy who want additional protection. 
  • What to consider: Umbrella policies can be quite expensive, so you need to decide if the potential benefit is worth the cost.

Umbrella insurance is there to pick up the pieces when your primary insurance policy falls short. For example, you may have a liability limit on your car insurance, but what happens if you cause an accident that injures someone and their medical bills exceed that amount? Umbrella insurance can help cover those expenses up to a specified amount. Umbrella insurance is there for you when you need a little extra protection. 

Final Remarks 

Most policies have a limit of up to a few million dollars, which may not be enough to cover the value of your home or your assets. An umbrella policy can fill in the gaps and help protect you from financial loss if you are sued for something your other insurance policies don’t cover. Call Foresee General Insurance Agency Inc. for consultation in Harrison, AR.

What Arizona Residents Need To Know About Flood Insurance

Flooding is one of the worst and most common natural disasters in America. It can devastate communities, damage properties, displace families, and destroy neighborhoods. Unfortunately, many people think that floods are part of their home insurance policies and lose property worth millions.

At Foresee General Insurance Agency Inc., we recommend learning about flood insurance and purchasing the policy on time to help cover the damage when floods occur. Here are some of the critical things homebuyers in Harrison, AR need to know about flood insurance.

No One is Safe from Flooding

Everyone is susceptible to flooding. Whether you live in a low-risk or high-risk flood area, it’s important to buy enough flood insurance to protect yourself and your family. While the coastal regions are at a higher risk of flood damage than other areas, you can never underestimate how far floods can get. Remember, flooding can be caused by many things, including heavy rain, broken dams, inadequate drainage, and melting snow.

You Might Be Required To Buy Flood Insurance

If your home is situated in an area that often experiences floods, your lender can request you carry flood insurance to protect their interests. Remember, flood insurance is separate from home insurance, and home insurance doesn’t cover flood damage.

There is a Standard Wait Time for Flood Insurance

When you buy flood insurance in Harrison, AR, you may need to wait up to 30 days for the policy to qualify to file a flood insurance claim. If you buy flood insurance today and experience floods next week, flood insurance may not cover the damages.

Get Your Policy before it’s Too Late.

At Foresee General Insurance Agency Inc., we can help you get a policy that matches your budget. We ensure that you, your family, and your property are protected in a flooding event. Feel free to reach out to learn more about flood insurance and other policies.

Protect your condo with a comprehensive policy

When it comes to choosing the right policy to protect your Harrison, AR area condo, you can count on Foresee General Insurance Agency Inc. Our team is proud to serve the insurance needs of our community, and we would welcome the opportunity to work with you too!

Benefits of a comprehensive condo policy

With a comprehensive policy, you can elect to have more liability insurance or opt for greater coverage of your personal articles. The main benefit of a comprehensive condo policy is its flexibility. You can choose the appropriate coverage for your needs, especially when it is greater than the protection provided by a basic policy.

If you are concerned about coming out of pocket for any expense related to a loss or liability, it only makes sense to look into comprehensive condo policies. In many condo buildings, owners are responsible for any damage that occurs in their units. This means that a mishap that occurs through your neighbor’s fault could still be a financial burden for you.

Taking the time to review your needs thoroughly can help you make a good choice when it comes to selecting your condo policy. Enhanced liability protection is just one of the benefits. Owners with expensive items may wish to take a look at a Personal Articles rider. These riders can provide excess insurance beyond the primary policy. 

When it’s time for you to select a policy, why not sit down with a knowledgeable, local agent?

Find out more today!

Foresee General Insurance Agency Inc. is here for the Harrison, AR community. Call or stop by today if you would like to learn more about your condo insurance options and why a comprehensive policy may be right for you!

Life Insurance FAQ

You are probably thinking of savings accounts and retirement funds when you think of investments. Many people do not consider their life insurance to be a part of their investment plan. Life insurance is most definitely an essential form of investment, though. Life insurance is the investment you make in your family to help them when you are gone. At Foresee General Insurance Agency Inc., serving Harrison, AR, and the surrounding areas, we can help you understand this critical investment type. Keep reading to learn more.

How Does Life Insurance Work?

Life insurance is a type of insurance policy you pay each month. The policy will have a benefit amount established when you purchase the policy. If you pass away, the benefit amount will be paid to your family. This benefit amount can be used to pay for your final expenses and provide financial support to your family. 

How Much Life Insurance Do I Need?

The amount of life insurance purchased will vary significantly from family to family. Each individual will have different goals that they intend for the benefit amount. Some people only wish to provide enough money to have their final expenses covered, while others may want to provide a financial cushion for their family to use for years to come. You will need to discuss your goals with your family. It is also helpful to sit down with an insurance agent to discuss your goals and how much insurance coverage may be appropriate to meet those goals. 

If you would like to learn more about life insurance or any of our other insurance services, don’t hesitate to contact us at Foresee General Insurance Agency Inc., serving Harrison, AR, and the surrounding areas.  

How Does Umbrella Insurance Protect Someone?

Have you ever imagined what could happen if uncertainties strike in Harrison, AR, and you have exhausted coverage limits of other existing policies? It’s hard, right? Fortunately, umbrella insurance is an additional policy that protects you when the current limits of your typical insurance policies get depleted. Umbrella insurance shields you against property damage, injuries, and certain lawsuits for claims from third parties. 

 Would you like to learn more about umbrella insurance? Please connect with Foresee General Insurance Agency Inc. situated in Harrison, AR, for more information.

How does umbrella insurance protect someone?

Umbrella insurance is almost beneficial to all people since lawsuits can affect anyone. If you own a home, vehicle, accident, significant accidents can quickly exhaust your liability coverages. Besides, if you own a dangerous dog, participate in high-risk hobbies, or chair a charitable board, chances of being sued are high. 

 For these reasons, you need umbrella insurance to protect you in the below areas:  

Bodily injury liability

Umbrella insurance covers the cost of physical injuries you inflict on third parties. These costs encompass medical bills or liability claims propagated by incidences like:

  • A severe auto accident where you are found legally responsible
  • The harm that your dog inflicts on others
  • When a guest in your apartment slips or falls
  • Your neighbor’s kid falls while playing in your yard

 Property damage liability

This coverage caters to the cost of damage or loss you cause to another person’s tangible property. While you might have boat or auto coverages, these coverages can only do so much. Umbrella insurance takes over from where the other coverages leave off. 

 Personal liability protection

The best part about umbrella insurance is that it covers you against liabilities like libel, slander, and false arrest that aren’t covered by other base liability coverages. 

 Are you searching for umbrella insurance coverage in Harrison, AR to cushion you when your other prevailing policies are exhausted? Call or visit us at Foresee General Insurance Agency Inc. for a competitive quote.