Reasons to buy life insurance
/ By Brandon Barnes / Life Insurance • Personal Insurance/ 0 Comments

Things You Need to Know If You Don’t Have Life Insurance

Things you need to know if you don't have insurance

Everything associated with your death becomes harder without life insurance.  While policies come in different sizes with their own particularities and specialties, the primary purpose of life insurance is to increase the financial stability of your survivors.  Your loved ones will be facing many issues should you die unexpectedly including: worrying about paying final expenses, paying taxes and debts, and maintaining their standard of living. The right life insurance alleviates all three issues at a time when your family is already dealing with significant upheaval.

One of the most significant reasons to buy life insurance is to cover funeral or burial costs.  If you don’t have life insurance, these costs will be left to your loved ones.  The average funeral costs around $9.000.  If you collect Social Security, your family can only expect a payment of around $250.  A paltry sum in comparison. Additionally, workplace policies - if you are lucky enough to have one - are usually not enough.  Employer-offered life insurance is typically for a small sum or an amount equivalent to one year’s salary.  To have the funeral your family deserves and take the stress out of paying for it, it is important to invest in a life insurance policy.

Reasons to buy life insurance

Another factor to consider when thinking about life insurance is the burden of taxes and debt.  If you die without insurance leaving unpaid taxes and debt, the expenses may go to the estate.  This can prevent your surviving family from getting any financial benefit from your estate.  Life insurance helps ensure that your family receives your estate.

An additional benefit of a life insurance policy is to protect against loss of income, especially if you are the primary earner in your household or are a dual-income household.  Life insurance gives your loved one’s time to properly grieve and plan before making any other major life decisions.  The last thing they need to be worrying about in that moment is whether to sell the house.  Indeed, depending on the size of the policy, the payout may serve this purpose for a long time.

when to get life insurance

Though many people start thinking about life insurance when they start having families, life insurance is important at all stages of life. Don’t fall into the trap of believing that if you don’t have a spouse or dependents, you don’t need life insurance.  Purchasing life insurance when you are young and healthy is significantly cheaper and is one thing you can do now to protect your family’s future.

Intelli Choice offers of full range of insurance policies from a variety of carriers. Call Intelli Choice to discuss your life insurance needs and protect your families’ future from the burdens of covering your final expenses, debts and taxes, and loss of income if the unthinkable happens.

Cheap Car Insurance in Cincinnati, OH
/ By Brandon Barnes / Commercial Insurance • General • Home Insurance • Personal Insurance/ / 0 Comments

Independent Insurance Agent

Independent Insurance Agent
Not all insurance agents are the same! Choosing the right one can make a big difference – in price, service, and value.
With other agencies, you get one company that sells one brand of insurance. With an independent insurance agency like Intelli Choice Insurance you get choices.
Why? Because independent insurance agencies, like Intelli Choice Insurance, represent a number of different insurance companies, and can compare coverage and prices to find the best possible value for your individual circumstances. As independent insurance agents, we are members of the Northern Kentucky & Cincinnati community, and we’re committed to doing business face-to-face and being your advocate in times of need.
Here are a few reasons why Intelli Choice Insurance should be your first and last stop when looking for insurance:
  1. We work for you when you have a claim.
  2. We are not beholden to any one company. This means you don’t have to change agencies as your insurance and service needs change.
  3. We are your consultants, working with you as you determine your needs.
  4. We are value-hunters who look after your pocketbook in finding the best combination of price, coverage, and service.
  5. We offer one-stop shopping for a full range of products, including home, renters, auto, business, life, and more.
  6. We can periodically review your coverage to keep up with your changing insurance needs.
  7. We are committed to customer satisfaction – it’s the key to our livelihood.
  8. We treat you like a person, not a number.
  9. We are licensed professionals with strong customer and community ties.
There is a difference. To find out how our independent insurance agency can help you find the right insurance coverage, contact us today.
Will My Homeowner's Insurance Cover My Claim
/ By Brandon Barnes / Home Insurance • Personal Insurance/ / 0 Comments

Will my homeowner’s insurance cover my claim?

Will My Homeowner's Insurance Cover My Claim
The cost to rebuild your home is its replacement value. This can be very different from the estimated market value or actual purchase price. In most cases, it costs more to rebuild the home you own than to buy a new one.

 

How much home insurance is enough?

Intelli Choice Insurance understands the Northern Kentucky & Cincinnati home insurance needs of our customers. We’ll work with you to estimate the replacement cost for your home and to adjust your policy limits from time to time as needed.
It is critical that you provide us with accurate, updated information about your home and contents. If your dwelling limit accurately reflects your home’s true replacement cost, some companies will pay more than the limit if a covered loss is greater than the limit on your policy.
Once a review of your home and possessions indicates you are properly insured, it’s a good idea to reexamine your coverages and limits from time to time, especially whenever you make additions or improvements. Intelli Choice Insurance can help you re-evaluate your Northern Kentucky & Cincinnati home insurance needs. Just call and speak with one of our agents.

 

 

Be Sure You Have Enough Home Insurance Coverage

Here are some steps you can take to reduce the danger of being seriously underinsured:
  1. Call Intelli Choice Insurance - If you have questions or concerns about the limits in your policy, ask us to show you how those amounts were calculated. This will also give you an opportunity to make us aware of any overlooked information.
  2. Read your policy - Certain property, such as jewelry, and certain perils, such as earthquake or flood, is better insured separately. Knowing what is covered and for how much will help you insure properly. If there is anything in your policy you don’t understand, contact us and ask for an explanation.
  3. Review - At each annual renewal of your policy, you receive a new Policy Declarations page showing limits of coverage and optional coverages. Review this information. If you do any significant remodeling or add a family room, extra bedroom or bathroom, etc., tell us about these changes so your coverage limits can be adjusted to cover the improvement.
  4. Consider carefully whether your policy provides all the protection you need.
  5. Does it provide coverage for extra costs resulting from building code changes?
  6. Does it automatically increase coverage limits annually to keep pace with inflation?
  7. Does it provide additional funds if the cost of rebuilding your home exceeds the policy limits?
Make sure you know:
  1. Will your insurance company stand behind agreed upon repairs after a claim? Some companies are willing to put this guarantee in writing.
  2. Does your policy include replacement cost coverage for contents (clothing, furniture, appliances, and other personal property inside your home)? If not, you can add it by endorsement. The cost is small, but the protection valuable. Replacement Cost Coverage pays for losses to your possessions at the cost of brand new items. Without this option, a covered loss to your personal possessions would be depreciated by their age and condition, reducing the size of your claim settlement.
If you have an art collection, antique furniture, jewelry, or other valuable possessions, ask Intelli Choice Insurance about supplemental coverages, such as fine arts or scheduled property endorsements, to adequately protect your investment in these items. The cost is modest for the extra protection, and often the deductible is waived.
Consider whether you should have more coverage for personal property (contents) than your policy provides. Personal property coverage is usually 70% of the coverage limit for the structure. Your limit may be lower than 70%. Supplemental protection is available for a small additional premium.

 

Inventory your home
Prepare an inventory of personal property items , update it periodically, and keep it in a safe place outside your home, such as a safe deposit box at your bank. It will save you hours of time trying to list everything damaged or destroyed if you need to make a claim. It will also help ensure you don’t forget some items. We can advise you on ways to simplify the job of preparing a personal property inventory such as videotaping each room with descriptive information on the sound track.

 

Personal Liability
Besides making sure you have enough protection to cover possible damage to your own home and contents, you should also evaluate your exposure to liability risks. These result from damage to the property of another, or injury to a person, not a member of your household, for which you can be responsible.
In recent years it’s become common for homeowners to be sued for injuries or damages to others, even when there is no evidence of negligence by the homeowner. The reality today is if you have any appreciable assets, you are exposed to the risk of being sued. Even if you ultimately prevail in court, your legal fees and the months or years of worry and uncertainty can be a terrible burden on you and your family.
The Personal Liability coverage provided by your Homeowners Policy usually provides a limit of $100,000 or $300,000. We recommend increasing this protection with a personal umbrella policy. Not only will it increase your personal liability, but also your auto liability. Limits are available from $1 million to $10 million and beyond. The cost of this coverage is usually very reasonable.
Keep in mind that Kentucky requires certain minimum levels of coverage. The right coverage for you is unique – talk to Intelli Choice Insurance today to find out how to get the best price and value on home insurance for you.