Benefits of getting a health insurance policy in California?

Those that are in the state of California are going to need to have many different forms of insurance. One important form of insurance that all people need to have is health insurance. For those that are in the Aliso Viejo, CA area, there are many benefits that come when you get a health insurance policy. 

Ensure you Receive Affordable Care

The main reason why someone should get a health insurance policy is that it can ensure that someone will get access to affordable care. Those that do not have health insurance will quickly find that going to a doctor or getting a prescription that they need is very expensive. With health insurance, you will be able to get the care that you need without having to spend nearly as much. Ultimately, this will help you to save money and allow you to live a happy and healthy life. 

Legal Compliance

While there are a lot of benefits that come with having health insurance, it also is required by law that you carry this insurance. Today, there is a legal requirement for all people to carry a basic health insurance plan. If you do not have this insurance, you could end up being fined at the end of the year when you file your tax return.

When you are shopping for health insurance, you can find that the process and options are confusing. Due to this, those that are in the Aliso Viejo, CA area should contact the team at BenefitSource Insurance Services, Inc. as soon as they can. When you reach out to BenefitSource Insurance Services, Inc., you can find a pleathora of information and advice that will help you to choose the best health insurance policy for your situation. 

How much flood insurance do I need in California?

The state of California is often regarded as earthquake country. As such, it is essential to have natural disaster insurance that covers your home when the unexpected becomes a reality. What can you do when an earthquake is not the culprit, though? How does flood insurance work in Aliso Viejo, CA, and how much do you need? The agents at BenefitSource Insurance Services, Inc. can help you find the flood insurance policy that covers your home and personal assets. 

What qualifies as an incident covered by your standard home insurance policy?

Not all instances of flooding are brought about by natural disasters. A broken pipe, for example, can destroy your personal goods through water damage. Such an incident is considered human-made and would, therefore, be covered by your standard home insurance policy up to the plan’s limits. A storm that causes the roof to cave is not a human-made disaster and, thus, would not be covered by your standard insurance plan. In this case, you would need a flooding insurance plan. 

How much flood insurance do you need in California?

It is undoubtedly true that California has some of the best weather conditions in the country. You, therefore, may not need as much flood insurance for your home. The average homeowner buys a maximum of $250,000 worth of coverage for floods caused by natural disasters. You may want to consider purchasing umbrella insurance as an additional safety net if your home and personal possessions exceed such an amount. 

Call the agents at BenefitSource Insurance Services, Inc.

We have been in the business of selling insurance plans for many years and can walk you through the process of finding the policy that best meets your needs. Call us today to get started with a quote for flood insurance that covers you when a natural disaster wreaks havoc on your home. 

5 Top Ways Life Insurance Can Be Used

There are numerous ways in which you can use life insurance. A matter like leaving insurance benefits to your family if something happens to you early on is definitely a top consideration for people when they get life insurance. However, there are some situations you might not have thought about. An agent from BenefitSource Insurance Services, Inc., serving Aliso Viejo, CA and beyond can help you.

Wealth Transfer

It’s ideal to put together your assets to leave behind to future generations. You also may want to establish a legacy through charitable means. You can ensure that your estates will be divided equally among your children this way, including a family business and investments. A cash amount can be granted to those who don’t wish to own the business in part or whole.

Widow/Widower Support

Life insurance benefits can help you ensure that a surviving spouse will be able to afford specific expenses after the other spouse passes away. This can include your mortgage, funeral costs, or various types of debt.

Chronic Illness

You can use life insurance to cover the expenses involved in caring for your spouse or for yourself upon becoming chronically ill. Alzheimer’s is an example of such an illness, though any that causes a serious impairment in two out of six daily living activities would qualify.

Charitable Giving

You can set it up so that your life insurance policy goes to a certain charity when you retire. The very existence of your policy allows you to donate real estate property or other property, as well as investments, to a charitable organization of your choice while being able to leave behind something to your heirs.

Bottom Line Benefit

One of the best things about life insurance is that it (normally) is tax-free. You can leave the property and other assets to your children or other heirs without them losing a chunk of the value. You can rest assured your family will have a financially sound future.

Find out more about life insurance policies and benefits through BenefitSource Insurance Services, Inc. of the Colleyville, TX and Aliso Viejo, CA area.

3 Ways Home Insurance Can Protect You During the Holidays

There’s nothing like celebrating the holidays with family and friends. Hosting holiday parties and events can bring you closer to those you love. At the same time, a house full of guests can increase your risk of accidents. Home insurance from BenefitSource Insurance Services, Inc. can protect you against any eventuality this holiday season so you can enjoy festivities to the full. A standard homeowners’ policy can provide you with the following coverage:

Liability Protection

Home-cooked meals and treats help make holiday celebrations special. Too many hands in the kitchen, however, could lead to accidents. Liability insurance protects you against accidental injuries that your guests may sustain while visiting your home. If Aunt Mae burns her hand while roasting the turkey or Grandma Julie lops off part of her finger when chopping veggies, liability insurance will cover their medical costs.  

Contents Protection

Holiday gatherings often include a brood of young children. With cousins, nieces, and nephews of all ages running around, your goods are bound to suffer some damage. Contents coverage helps cover the cost of accidental damage to your belongings, whether it be a broken coffee table or a cracked computer screen. Contents protection can keep you from worrying or getting frustrated over accidental damage little ones may cause.

Dwelling Coverage

If a fire were to break out in your kitchen during the holidays and destroy part of your home, dwelling insurance would help cover repair costs. Kitchen fires are quite common during the holidays due to cooks being distracted when preparing holiday meals. With dwelling insurance, you have the resources you need to rebuild your Aliso Viejo, CA home after a disaster of this nature.  

For quality home insurance at reasonable rates, contact your BenefitSource Insurance Services, Inc. in Aliso Viejo, CA. 

What Does Condo Insurance Cover?

Not many condo owners are aware that the insurance policy held by their condo association only covers the exterior of the unit, permanent fixtures, plumbing, wiring, and carpets. Rarely does the coverage protect your personal belongings. Sometimes, the wording of the insurance policy might exclude coverage for flooding. Thus, it’s smart to get a personal condo insurance policy, but understand what it will cover before coming to an agreement. 

Personal Liability Coverage

In this day and age, it’s essential to protect yourself from any liability claims that could turn into a potential lawsuit. Personal liability coverage does assist with paying for possible legal expenses and resulting medical bills from a person who was accidentally injured inside your condo, and you were at fault. This coverage is a must-have in order to protect yourself financially. Find out more by contacting BenefitSource Insurance Services, Inc. in Aliso Viejo, CA.

Building Property Protection

Most condo owners fail to realize that repair costs inside the unit (flooring, inner walls, and countertops) aren’t covered under their condo association insurance policy. Building property protection will cover the payment for repairs and future renovation projects to your condo. Plus, this agreement will cover the cost to live elsewhere if your condo is badly damaged from a disaster. 

Personal Property Coverage

Condo owners can go several different routes with their personal property insurance coverage. One course is choosing actual cash value, which pays for the depreciation of damaged personal property. Another option is selecting a replacement cost coverage that doesn’t take depreciated value into account. Instead, the condo owner gets to reimburse the difference between the item’s actual cash value and the cost to replace or repair it. Often, this coverage does come with a limit or maximum dollar amount that can be reimbursed on a claim for a covered personal item. In some cases, a condo owner may need to pay a deductible before the coverage goes into effect. 

Life happens fast, so be protected for the unexpected with a personal condo insurance policy. BenefitSource Insurance Services, Inc. of Aliso Viejo, CA can help plan coverage that’s just right for you and your family. 

 

 

 

 

 

 

 

 

What Does Cash-Value Mean?

There are three broad categories of life insurance. They are term life, universal, and whole life or permanent insurance. Some types of life insurance policies build up a value over time that is called the “cash value.” Term life policies are limited to a certain number of years. Universal life policies may build up cash value depending on their investment characteristics. Whole life policies always build up cash value.

It may take quite a few years for the cash value to build up in a life insurance policy, so ask your agent at BenefitSource Insurance Services Inc. in Aliso Viejo, CA to explain the details.

What can cash value be used for?

Once a life insurance policy has cash value, many beneficial things happen. A policyholder can borrow against the cash value for very low-interest rates and use the tax-free funds as they like.

If money is tight, the cash value may be accessed to pay the insurance premiums temporarily to get through a rough financial period in life.

If the cash value is significant, which may happen towards the later years of life, it may be used to create a “paid-up status” for the policy. This means that no further premiums need to be paid by the insured for the remainder of their life.

Of course, the policy can always be surrendered to the insurance company for the cash value; however, it is usually better to borrow against it, rather than give up the policy.

How do you calculate cash value?

Your agent can do this calculation for you and there are tables contained in many policies or available online that show the figures. Some policies offer an annual dividend that can either be taken as income by the policyholder or be used to build up cash value.

What should you do?

The nice thing about having a life insurance policy that builds up cash value is that the process happens automatically. This is a nice investment characteristic that provides savings for the future.

Contact your agent at BenefitSource Insurance Services Inc. in Aliso Viejo, CA by calling 949-215-5431 to schedule an appointment and get a quote for life insurance. Let’s discuss your cash value options.

Commercial Insurance and Damaged Items

Commercial insurance is a must for anyone with a business. It helps to protect your company, your employees and patrons, and your merchandise as well. Even though commercial insurance covers all these things, it also covers damaged items to a certain extent in your commercial business. For those that live in the Aliso Viejo, CA area, the agents with BenefitSource Insurance Services Inc. can help you find the coverage that works for you.

Your commercial insurance covers a huge range of things and damaged items are included. This means that if your merchandise, the computers you use for your business, even components of the building are damaged, your insurance might cover it. There are certain limits to this. For instance, your insurance is not going to cover minor damage to an item that you caused, but if you have a large number of items or a display for instance that was totally destroyed you may be able to get insurance to help cover the cost of repair or replacement. Your commercial policy is in place to make sure that you are able to keep your business operating and that you are not going to have to spend an arm and a leg to recover should something happen to your business.

Your coverage does not work for damages that were intentional or that were caused by negligence on your part. It’s important to remember that your commercial policy is not there to fix every little booboo or mishap but rather to help handle larger issues. For those that live in the Aliso Viejo, CA area, the agents with BenefitSource Insurance Services Inc. can help you to get your policy hammered out and to help you find the commercial policy that is going to work for you.  

After the Storm–What to Do if Your Home is Damaged by a Summer Storm

Summer storms in Aliso Viejo, CA can pack a surprising punch, leaving homeowners with damaged homes, outbuildings, or downed trees.  Use these tips from BenefitSource Insurance Services Inc. to know how to handle the damage once the storm passes.

Call Your Agent

After you and your family are safe, call your insurance agent, even if it’s after hours. You can call the national phone line for your insurance company and follow the prompts to get started filing your claim. Try to have your policy number nearby to expedite your claim. You should make notes about the time of your call and who you talked to. Be sure to write down your claim number if they give you one. 

In the days after the storm, the insurance adjuster will come by and look at your damage. Be sure to point out all damaged items, and make sure that the adjuster has your name, address, and policy number correct. Keep track of all paperwork in a folder or envelope and make notes any time you talk with someone from the insurance company.

Don’t Start on Repairs Unless Damage Is a Danger

While it’s tempting to get started right away putting things to rights, if you are planning on making an insurance claim, you may want to hold off on fixing things. Your insurance agent will want to see the damage in full before things are repaired.

You can temporarily repair things if your home is in danger of further damage. For instance, you can tack a tarp or piece of plywood on your damaged roof to temporarily keep the rain out. However, you should hold off on making permanent repairs.  If you have to buy items for these basic repairs, keep your receipts. You may be able to be reimbursed by the insurance company for anything that you have to buy to protect the structure.

Only Use Reputable Contractors

Sometimes, contractors will go door-to-door after storms to try to drum up work. The problem is that you have no way of knowing if these people are reliable and do good work. Ask your agent for a referral if you don’t know anyone who can make these repairs. Be patient and wait for someone who knows what they are doing. Shoddily done repairs with poor quality materials are worse than having to wait a week or two to have your project completed. 

If you need advice about storm damage in Aliso Viejo, CA, contact BenefitSource Insurance Services Inc..

How Car Insurance Protects Passengers in a Vehicle

Car accidents can be terrifying, even minor ones. Although serious vehicle damage can result, it’s even more heartwrenching when people are hurt. Without the proper auto coverage in Aliso Viejo, CA, it can also lead to extreme financial difficulty. Ask a BenefitSource Insurance Services Inc. agent what coverage you need to protect passengers in your car and in other vehicles in order to drive responsibly.

What’s Required by Law in Texas?

If you have passengers in the car during an accident, different coverage applies, depending on whether you or another driver is at fault. To protect the drivers and passengers on public roadways and preventing financial hardship, most states, including Texas, require each driver to buy liability coverage, which provides a measure of protection to passengers in another vehicle if you cause an accident.

What’s Required by Insurance Companies?

If you still owe money on your car, your lender will require collision or comprehensive coverage. This coverage ensures that the insurance company can recoup its loss if you are in an accident. 

How Can You Protect Passengers in Your Car?

Liability coverage only protects passengers in other vehicles if you’re at fault. Medical and PIP insurance help you protect passengers in your own vehicle. 

Personal injury protection (PIP) pays your and your passengers’ medical bills. It also covers lost wages and some nonmedical costs. The good news is that all Texas policies include PIP coverage. Drivers have to turn it down in writing if they don’t want it.

Medical payments coverage takes care of passengers’ medical bills. It also covers you if you’re injured while riding in another vehicle, biking or walking.

Knowing that an accident won’t lead to financial ruin for a driver or their passengers leaves insured drivers with peace of mind. Contact BenefitSource Insurance Services Inc. today to make an appointment for a free quote on auto insurance in Aliso Viejo, CA.

Do you need boat insurance if the vessel does not have a motor?

A boat is one of the greatest investments that you can make. There is much to love about the independence that comes with owning your watercraft. Still, there are certain responsibilities that come with having a boat that you can use at any time in Aliso Viejo, CA.

The agents at BenefitSource Insurance Services Inc. can help you find the boat insurance policy that works best for your lifestyle. Read on to learn whether you need watercraft assurance if your boat does not have a motor.

Do you need boat insurance if the vessel does not have a motor?

Technically speaking, you do not need to have boat insurance if your boat does not have a motor in Aliso Viejo, CA. In actuality, boat insurance is not required in California at all. Such is not the case, however, in other states. 

Arkansas and Utah require watercraft owners to obtain assurance policies if they own boats with motors that have more than 50 horsepower. Arkansas requires boat owners to have at least $50,000 of liability coverage. Utah requires watercraft owners to have $25,000 for bodily injury and $15,000 for property damage.

You should invest in boat insurance

A watercraft is expensive, which means that you should do everything possible to ensure that your investment is safe. The agents at BenefitSource Insurance Services Inc. can help you find the watercraft assurance policy that works best for your situation. They have been in the business of insurance for many years and work with you to understand your needs so that you get the most out of your plan. Contact the agents at BenefitSource Insurance today to get started with a quote!