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. 

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 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.

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.

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 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.

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. 

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.