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What Kind of Auto Coverage Do You Really Need?

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Purchasing auto insurance can be a challenge, especially for new drivers. The first step to selecting a policy is determining what kind of coverage you need. At Foresee General Insurance Agency, Inc. in Harrison, AR, we offer a variety of coverage options to meet your needs. Here’s what you should know about auto insurance options in Arkansas.

Required Auto Insurance Coverage in Arkansas

Arkansas requires that drivers carry minimum liability coverage to pay for injuries and property damage to others in accidents they cause. Minimum coverage, however, is just a start. To protect your assets against serious accidents, you’ll need more than the minimum liability coverage. Otherwise, you could wind up paying thousands of dollars’ worth of damage out-of-pocket.

Optional Auto Coverage

If you own a costly vehicle, you’ll also want insurance protection for your investment so you don’t have to pay for damages on your own.

  • Collision and comprehensive are optional insurance that covers your vehicle in an accident. Collision insurance covers repairs to your car if you crash into another vehicle or object (other than animals). Comprehensive insurance protects you against theft, animal strikes and damage caused by inclement weather (wind, hail, snowstorm, etc.).
  • Uninsured/underinsured motorist coverage helps pay for damage to your vehicle if you’re hit by another driver who has little or no insurance coverage.
  • If you’re into road trips, you may want roadside assist coverage to pay for towing and minor repairs in case your car breaks down in the middle of nowhere.

When selecting auto insurance coverage, consider the value of your vehicle, your lifestyle, and your driving habits and choose the coverage that provides the best protection for you. To learn more about your auto insurance options and costs in Harrison, AR, contact Foresee General Insurance Agency, Inc.    

4 Main Types of Commercial Insurance Bonds and What They Mean

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If you have your own business or are about to start one, it would be in your best interest to learn about the different types of commercial insurance bonds that are out there. Though only 4 are addressed here, there are several others you should research when it comes to your business ventures. An insurance company like Foresee General Insurance Agency, Inc. in Harrison, AR can help with this process

Permit and License Bonds

A surety bond that’s required based on regulations or laws in each state is a permit and/or license bond. This is not something that the owner of a business can choose. They are in place in order to engage in and perform specific activities.

Contract Bonds

Contract bonds usually are a part of the construction industry. There are a few subcategories of this type of bond. Bid bonds are in place to ensure the bidding process when it comes to respecting requirements that are stated in the contract. It helps to avoid any frivolous bids. Performance bonds are for insurance companies or banks to guarantee that a project is completed. There also are maintenance and payment bonds under this category.

Business Service Bonds

These bonds protect clients from becoming a victim of theft. They often are chosen by businesses or individuals that use services in which they have to enter private property for performing duties such as medical care or cleaning. It ensures that the client will get financial compensation if any of their property goes missing after the services are performed. Of course, it’s necessary to show in a court of law evidence that something has been stolen.

Miscellaneous Bonds

These bonds don’t really fall into any other category. They are random in their use and have various purposes. This includes ensuring leases and guaranteeing a monthly payment like utility bills. They especially are useful when it comes to businesses that have special needs.

Want to know more about commercial surety bonds and which ones may be right for you? Discuss your needs with an agent from Foresee General Insurance Agency, Inc. in Harrison, AR today and you won’t regret it.

 

 

What Will Home Insurance Cover after a Disaster?

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What your home insurance covers after a disaster will depend on what occurred and your policy terms.

What Does It Cover?

Hazard insurance on a standard policy will cover many different natural disasters, such as fire, lightning, and wind. If you aren’t sure which natural disasters are covered under your specific policy, speak with an agent at Foresee General Insurance Agency, Inc. in Harrison, AR.

  • Lightning: If lightning strikes a tree and causes it to fall over and damage your home, then the dwelling coverage will pay to repair the damage. If your belongings are damaged by a peril such as lightning, then the personal property insurance will kick in to cover those items.
  • Fires: Whether it’s an accidental blaze, a fire caused by a vandal, or a wildfire, it can be covered under home insurance. Both dwelling coverage and personal property coverage can be used to pay for damages.
  • Tornados or Hail: These natural disasters will often be covered under a standard policy. If you need to relocate while your home is being repaired as a result of these disasters, then additional living expenses coverage can kick in.

What Does It Not Cover?

Even though home insurance will cover quite a few disasters, there are some instances when your policy won’t cover any damage. Damage caused by earth movements, such as landslides, mudslides, sinkholes, and earthquakes, isn’t covered. Damage from floods also will not be covered. There can also be exclusions for other water damage and mold that comes from a sewer backup. If you live in an area where flooding is common, then you want to get a separate quote for flood insurance. Maintenance damage, such as pest infestations, are not covered either.

Contact Foresee General Insurance Agency, Inc. in Harrison, AR to get a quote on home insurance.