Why basic auto insurance may not be the right choice for you

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Most states have basic auto insurance requirements that you must meet to drive your vehicle, and Arkansas is no exception. At Foresee General Insurance Agency Inc. in Harrison, AR, we understand the temptation to carry the bare minimum auto insurance, but we also understand the risks, and we can share our experience with our customers to help them to make the right choice for them. 

In Arkansas, basic auto insurance is strictly liability coverage. The required amount is 25/50/25. This provides $25,000 for one person injured in an accident and a total of $50,000 for two or more people injured. It also allows for $25,000 for damaged property. While this is adequate coverage, it may not be enough to protect you in a severe accident. 

If you have a car loan or you are leasing your vehicle, you will not be able to get away with just having basic auto insurance. You need protection for the car as well. 

If like many people, you don’t live somewhere that has excellent public transportation, you require your vehicle to get around for the daily activities of life. If that vehicle was unavailable to you because it had been damaged in an accident where you were responsible or a hit and run, would you be able to pay for the repairs to get it back on the road? If your auto was damaged by flooding or another weather-related event, or if it was stolen, would you be able to replace it easily? If your answer is no, this is one excellent reason to carry more than just basic auto insurance. 

Contact Foresee General Insurance Agency Inc. in Harrison, AR for all your auto insurance needs. We will answer all your questions and provide a free quote as well. 

Get Covered: The Benefits Of Umbrella Insurance

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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

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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

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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

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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.  

Accident with an uninsured driver: Dos and Don’ts

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While nearly all states in America require drivers to have the minimum liability car insurance, there are still drivers behind wheels without insurance driving on public roads. According to a study by the Insurance Research Council, one in eight drivers doesn’t have auto insurance. So what are your options if hit by an uninsured driver? This article outlines the dos and don’ts to help you obtain compensation after an accident with an uninsured driver.

Do: Call the police immediately

Your first step to getting fully compensated for your injuries or losses is calling the police. Your insurance provider will rely on this report when seeking compensation if they cover the damages. At Foresee General Insurance Agency Inc. we also recommend getting the name of the police officer who interrogates you at the scene.

Don’t:  Move the car

Whether the accident happened on the highway or a small less busy road in Harrison, AR, never move your car until you are done with the police report. Altering the scene before the police arrive can heavily impact your compensation process.

Do: Get contact details of the other driver

The other driver might not have their insurance details as they don’t have insurance in the first place, but they have their personal contact details that you can use to reach them. Don’t forget to take details of a witness as their statements will be beneficial during the claim process.

Don’t:  Accept money

The other driver may try to offer you money to avoid legal repercussions. They could face some hefty fines and fees or even have their driving license revoked. Never accept money even if the deal seems too good. Remember you cannot estimate the damages or injury costs at the moment.

Do: Document the damage

Take pictures and videos of the two vehicles. You will need them when reporting the accident to your insurance provider.

Not sure whether you have enough auto insurance? Foresee General Insurance Agency Inc. can help you protect yourself, your loved ones and other motorists with quality auto insurance. Let us help you get the most out of your policy. Call us today or visit our Harrison, AR offices.

Do All Businesses in Arkansas Need Commercial Insurance?

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Why do businesses need insurance? The simple answer is that accidents can happen at any time. And when the accidents are severe enough, they can wipe your hard-earned venture within a matter of minutes!

But before going far, let’s answer this question: do all businesses need business insurance? The short answer is a resounding yes. As you will see from the post below by Foresee General Insurance Agency Inc. of Harrison, AR, all businesses need commercial insurance for the following reasons:

No business is 100% risk-proof

You may have installed CCTV cameras and high-perimeter walls to keep thieves away from your storage facility. Inside, you have robust internal control to mitigate internal theft. Unfortunately, theft is just one of many risks faced by businesses. You may have solid anti-theft measures, but you are not safe from natural disasters, fires, liability claims, and employees’ injuries.

There is no risk-free business, whether small or large. And it’s for this reason you need commercial insurance to safeguard you when the unexpected occurs.

It’s mandatory

Some aspects of business insurance are mandatory, depending on the state you are operating. For instance, Arkansas requires businesses to invest in worker’s comp insurance if they have more than three workers. Similarly, you must purchase commercial auto insurance if you have commercial vehicles.

But whether commercial insurance is mandatory or not, all businesses should invest in commercial insurance options applicable to their business.

Business insurance builds credibility

If the above two reasons don’t appeal to you, then consider business insurance to boost your reputation. Customers, investors, and suppliers are impressed by businesses that take risk management seriously — there is no better way to mitigate risks than investing in commercial insurance.

Ready to invest in commercial insurance in Harrison, AR? Please reach out to Foresee General Insurance Agency Inc. for a favorable quote.

Do you need additional commercial insurance to protect your inventory?

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Foresee General Insurance Agency Inc. is dedicated to helping business owners in our Harrison, AR community protect their companies. We often have clients ask us about inventory coverage. If you are concerned that your current policy doesn’t provide the coverage you need, it’s time to talk to one of our experienced team members.

Inventory protection for your commercial business

Inventory is an important component of many businesses. As your firm grows, your inventory holdings will likely grow as well. If you are still carrying a policy that protects a past level of product, it may be time to update your coverage. Primary policies can cover inventory to a certain level, but may not have the robust coverage you need. This can be the case if you estimated your inventory during a low season, you have expensive items that exceed the maximum allowable amounts in your primary policy, or if your level of inventory has outpaced your current level of coverage.

There are many different reasons why supplemental inventory may be necessary. Of course, every company’s situation is different and that’s why it makes sense to sit down with an experienced, local agent. It is advisable to review commercial policy coverage at least once a year to ensure that it is in line with your firm’s current requirements. 

Is it time to review your current policy’s inventory coverage?

Foresee General Insurance Agency Inc. thinks it’s a great idea to regularly review your commercial insurance policy. Give us a call today and set up an appointment with one of our Harrison, AR team members. We are here to help!

4 Unique Things You Didn’t Know Your Home Insurance Covers

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How much do you know about your home insurance policy? If you spend countless hours sifting through your policy definitions, agreements, exclusions, limits, and coverages you’re not alone. Home insurance can be complicated to understand. Many homeowners in Harrison, AR, still have their claims rejected when they file for losses not covered in their policies. If you don’t know what your policy covers, you definitely don’t know these four unique things are covered in your home insurance policy.

Landscaping

Your home insurance indicates that it covers other structures in your home, like the shed and detached garage. That also means any other structure around your home is covered. Lawns, trees, hedges, fountains, and other landscaping features are all covered. Foresee General Insurance Agency Inc. recommends listing all these structures when applying for your home insurance.

Spoiled food

If your refrigerated food goes bad due to a power outage in your area, don’t just replace it. Your insurance company should pay for it once the power returns. However, your claim will be rejected if you intentionally cause the outage.

Identity theft

Identity theft has been covered in your home insurance policy for decades, but many people still do not know about it. Your policies cover legal fees, lost wages, mail costs, and other identity theft-related costs.

Belongings outside your home

Your home insurance provider knows that you and your family might have personal belongings outside your home. The policy covers your laptop that you always keep in your car or office, your children’s sports gear at school, and many other personal things outside your home.

If you’re unsure whether a particular loss is covered in your homeowner’s policy, always reach out to your insurance company before filing a claim. If you’re looking to buy home insurance in Harrison, AR, you’re in the right place. Foresee General Insurance Agency Inc. has everything you need to get a policy that matches your needs, comfort, and budget. Feel free to contact us, and we will be happy to help.

What could happen if I do not have auto insurance in Arkansas?

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People that live in the Harrison, AR area will find owning a vehicle is a good idea as it will make it much easier to get around the community. If you are going to own a car when you are in this area, you also need to get auto insurance. This coverage is required in practically all situations and offers great protection. There are a few things that could happen if you do not have this coverage. 

Be Responsible for Damages and Losses

A key reason that you should have insurance is that it will give you financial protection if you cause an accident or incur a loss. If you are responsible for an accident, you will need to pay damages out of pocket. Further, if your vehicle is stolen or damaged, you will want to have coverage to help you replace it. If you do not have insurance, you will need to cover all of these costs out of your own savings. 

Legal Penalties

In Arkansas, all drivers are obligated to have auto insurance at all times. If you do not have this coverage in place, you could face various penalties. Those that are caught without insurance could be fined and may even lose their right to drive temporarily. Further, you could be in default of an auto loan if you don’t maintain this coverage. 

When you are a vehicle owner in the Harrison, AR area, it will be very important that you continue to take your insurance needs seriously. The team with Foresee General Insurance Agency Inc. can continue to provide you with the support needed to assess your insurance situation and needs. Foresee General Insurance Agency Inc. is able to do this by taking a personalized approach and offering the right guidance while you are selecting your next plan.