What isn’t covered by home insurance?

Most of us would never debate the value of a homeowner’s insurance policy. It covers many different things, and as a result, can create great peace of mind. However, it’s important to understand that there are certain things that it doesn’t cover. It’s not uncommon to assume that this type of insurance is a blanket for anything and everything that could go wrong in or around your home. However, this is simply untrue. 

What Does Homeowners Insurance Cover?

What a homeowner’s insurance policy can cover can vary from one company to another. However, there are broad areas of coverage that are generally covered by most homeowners policies. Most policies cover your home’s physical structure, your garage, fencing, driveway, and your shed. However, it should be noted that some structures on your property wouldn’t be covered under your o=homeowners policy if they were designated for business. You would need a separate policy for a business structure. However, damage caused by some natural disasters is covered, in addition to vandalism, fire, and liability if anyone becomes injured or hurt on your property. Many insurance policies will cover the theft of your watercraft if it occurs on your property but this coverage won’t extend if it occurs on someone else’s property or away from your home. Your personal property is also included in your homeowner’s insurance.

What’s NOT Covered?

It may seem as if almost everything is covered under a homeowner’s policy, however, this isn’t true. Most homeowner’s policy’s wont cover flooding or earthquakes. These natural disasters require a separate policy. Also, earth movement that includes earthquakes and sinkholes aren’t covered. Water damage from overflows and backups, damage from your drains or sewer systems, and damage from termites, rodents, and general wear and tear aren’t covered. However, some of these issues can be covered under a separate policy or an addendum to your current policy. Other less common issues that aren’t covered include damage that occurs from a nuclear hazard or war. Also, most policies won’t cover artwork or jewelry. You may have to purchase a separate policy for that. Our team at BenefitSource Insurance Services Inc. is dedicated to helping Aliso Viejo, CA policyholders understand how homeowners insurance works and what is covered. Give us a call today. We look forward to answering your questions. 

When does someone need to get classic car insurance?

Anyone that is a car lover in the Aliso Viejo, CA has likely spent time thinking about buying a classic car. When you are in the market for a new classic car, you must get the right insurance for the vehicle. There are several situations when someone will need to get a classic car insurance policy for their car. 

When Looking to Get Maximum Coverage

One of the advantages of getting a classic car insurance policy is that you can get more insurance coverage for your vehicle. When you get a classic car policy, you will have the opportunity to negotiate the replacement value of the vehicle. This will allow you to get coverage for the vehicle that includes the collectible value of your asset.

When Driving on a Public Road

Most of the time, someone that owns a classic car will put a minimal amount of miles on the vehicle each year. However, whenever you do drive your classic vehicle, it is very important that you get the right liability insurance for it. You will need to have liability coverage to ensure you comply with state laws. However, with a classic car policy, the underwriting will factor in the minimal amount of miles that you will drive. 

When you are looking for a classic car insurance policy, getting the support that you need to pick a quality policy is very important. For those that are in the Aliso Viejo, CA area, contacting BenefitSource Insurance Services, Inc. for your classic car insurance needs is a great option. When you call BenefitSource Insurance Services, Inc., you are going to receive more information about how classic car insurance can protect you. This will help to ensure that your prized asset is appropriately covered by insurance. 

Can Anyone be a Beneficiary?

After purchasing a life insurance policy in Aliso Viejo, CA, your next step is choosing a beneficiary. Your beneficiary is the person(s) or organization who will receive benefits from your policy upon your demise. Although there are no strict rules for choosing a beneficiary, these tips from BenefitSource Insurance Services, Inc. can help make your decision.

One or More?

You can choose one or several beneficiaries to receive your life insurance benefits after you’re gone. If you choose more than one beneficiary, you can designate how you want the benefits to be divided between each. Your beneficiaries can be a relative, friend, spouse, children, or even a lover. If you choose minor children as beneficiaries, you’ll need to appoint a legal guardian to manage these funds or put the funds in a trust until your children are of legal age.

Person or Organization?

In addition to people, you can choose an organization in California to be your beneficiary, such as your favorite charity, a local children’s club or any other organization you support now and would like to continue supporting after you’re gone. Whether you choose an individual(s) or organization, be sure to let them know so they can file a claim upon your demise.

Update Your List of Beneficiaries

Be sure to update your choice of beneficiaries, if necessary, while you are around. You can change your beneficiary at any time while you are alive. If you named your spouse as a beneficiary and later got divorced and remarried, you may want to remove your former spouse from the list of beneficiaries and add your current one to ensure he or she is taken care of upon your demise.

For help in purchasing a life insurance policy or choosing a beneficiary, call or visit us at BenefitSource Insurance Services, Inc. in Aliso Viejo, CA.

Does Your Current Flood Policy Provide the Coverage You Need?

Flood insurance is vital to have, especially in our area of California. If you are in the greater Aliso Viejo, CA area, BenefitSource Insurance Services, Inc. is here to help you ensure that you have the protection you need. Whether it’s time to renew your policy, or you are just now moving into the area, we have the expertise and experience necessary to help you meet all of your insurance needs.

Important Features to Look for in Your Flood Insurance Policy

One of the key reasons that people are left with inadequate flood insurance is a lack of understanding of how these types of claims work. In most instances, flood insurance is tied to the cause of the water damage, not the damage itself. For instance, one policy may cover you for flood damage caused by storm waters but will be insufficient if the damage is related to other causes. That is why flood insurance is highly recommended, even if you don’t live in a flood plain. We can help you determine the coverage provided by your home insurance policy and also recommend a flood insurance policy that will fill any gaps in coverage. We find that having the right flood insurance policy can make many catastrophes a lot less stressful and challenging to deal with. Knowing that you have the coverage you need can decrease your stress level and allow you to enjoy California life!

You can rely on BenefitSource Insurance Services, Inc. for all of your flood insurance needs in the greater Aliso Viejo, CA area. We can help you gain a deeper understanding of the requirements and options available for flood insurance. We understand that this process can seem overwhelming, and that’s why we’re here to help! If you’re looking for insurance in Oregon, don’t be shy to call us.

How important is condo insurance?

Given the fact that the median price for a condo in Colleyville or Aliso Viejo, CA is in excess of $500,000, it certainly qualifies as one of the major purchases in your life. This makes the question of the importance of condo insurance a no brainer. Condos are different from detached single-family homes when it comes to insurance. With a condo, the condo association provides some of the insurance for your home. It is up to you to know exactly what that coverage amounts to. At BenefitSource Insurance Services, Inc., we have a team of experts who can discuss your needs with you when it comes to coverage. 

If you have a mortgage on your condo. your lender will require that you carry enough condo insurance to protect their investment. The condo association policy will cover the exterior of your home, roof, porch, walkways, and the common areas that are shared by all the owners. How far into your unit their coverage goes varies from condo association to condo association. That is why it is important that you know where your coverage needs to begin.   

Your personal condo insurance offers you liability protection. This extends to all your family members who live with you, including your furry friends. If someone is injured while visiting you, it protects you against potential legal action. If your dog misbehaves while out on a walk or at the dog park, you are also covered. No doubt you have lots of personal property, furniture, electronics, clothes, home decor, appliances, and more. These are also covered for total loss or damage. If your unit is damaged by a covered hazard your condo insurance will also help you to pay for another place to stay until your unit is habitable. 

How important is condo insurance? In one word, very. Call the office of BenefitSource Insurance Services, Inc. in Aliso Viejo, CA or stop by to make an appointment for a no-obligation quote. 

 

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.