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.

Retirement

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.

Why Online Companies Need Commercial Insurance

Commercial insurance isn’t just for brick-and-mortar business locations, and it’s also necessary for online businesses too. Proper commercial insurance protection can help you avoid risks and pitfalls that can set you back or put you out of business. Let the experts at Foresee General Insurance Agency Inc., serving Harrison, AR, assist you with the selection process and maintaining your ideal coverage. 

Commercial Insurance

Commercial insurance is essential for business owners who want to ensure their stability, security, and peace of mind. This type of coverage can include the following:

  • Liability coverage
  • Inventory
  • Lawsuits
  • Defective products 
  • Theft
  • Injuries

Getting the proper coverage for an online business is particularly important. There are unique risks and considerations for the method of business operation. Insurance protection designed to cover those risks is necessary for peace of mind. 

If you own and operate an online business, you can speak with one of our highly skilled agents to get the insight and support you need to choose the right policy for your particular needs. Our team of insurance experts can work closely with you to determine what you need to insure. 

Contact Us Today

The residents of Harrison, AR need reliable insurance products they can trust. Foresee General Insurance Agency Inc. is dedicated to providing dependable insurance products designed to suit your needs and protect the things that matter. Call or stop by the office today to speak to one of our knowledgeable agents or learn more about our range of products and services. Be sure to get the online business protection you need. Reach out today to get started and secure adequate protection to prevent losses. 

What is the benefit of getting home insurance in Arizona?

The Harrison, AR area has been an excellent place for people to own a home. If you are a property owner here, you will want to get insurance for your home. There are various benefits that people in this part of the state will receive when they obtain the proper insurance to protect their assets. 

Cover Dwelling and Personal Assets

One of the reasons why people will want to have a home insurance plan is that it can help to protect and cover your dwelling and personal assets. Suppose there is ever a fire, vandalism, theft, or another situation covered by your plan. In that case, it will give the financial support needed to repair or replace your property and personal belongings up to the policy limits. 

Ensure Compliance

It is also a good idea to have home insurance to comply with any of your obligations. If you purchase a home, there is a good chance that you will also need a loan. Along with the loan, you will sign documents requiring that you keep your home insurance at all times. If you do get home insurance, it can help ensure you are adequately covered.  

People living in the Harrison, AR area will find it a great place to live. As you are looking for a place to live and buy a home, you should talk to someone you can trust about your insurance needs. The Foresee General Insurance Agency Inc. professionals can offer the help you need to build a proper home insurance plan. Foresee General Insurance Agency Inc. takes a customized approach to understand your options and building an ideal policy that will meet your needs. 

Add these features to your Arkansas auto insurance policy

Residents in Harrison, AR, and the surrounding area can count on the team at Foresee General Insurance Agency Inc. for all of their auto insurance needs. Call or stop by our office today to find out more.

Add these features to your auto policy.

There are a lot of great features that are now available with common auto insurance policies. If you want to maximize the benefits of your new auto policy, consider adding one or all of these great features:

  • Declining premium – your premium will decrease every year you go without an accident or claim. There are even some carriers that offer zero-payment policies with this feature. A declining premium is a must-have for all of the safe drivers out there!
  • Car rental coverage – no one wants to be without transportation, which is true when your car is in the shop after an accident. Check out this feature that can prevent you from having to come out of pocket for car rental expenses. 
  • Roadside assistance – if you are ever caught on the side of the road because of a breakdown or accident, you’ll want to have roadside assistance ready to go. When you add this feature to your policy, you can rest assured that you’ll receive prompt service from providers approved by your insurance carrier. 

These are just a few of the many worthwhile features that are available with your auto insurance policy. Why not find out more about these excellent services and others that are available?

Give us a call today!

Foresee General Insurance Agency Inc. is here to help the greater Harrison, AR community with all of its insurance needs. If you have questions about auto insurance, give us a call today.