The Difference Between Personal Auto Coverage and Commercial Auto Coverage & Why You Need Them

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Understanding the Importance of Reviewing Your Auto Insurance Policies

Have you reviewed your personal and commercial auto policies recently? The expert team at Giles & Iten Insurance serving the Surprise, AZ area encourages you to take a look at your policies, especially if you have a business.

What is Personal Auto Insurance?

Personal auto insurance covers vehicles you and your family use for everyday activities. This includes commuting to and from work, running errands, taking the kids to school, and road trips. It covers accidents, liability, and damage to your car. Please note that it doesn’t cover your business-related activities beyond commuting to and from the office.

What is Commercial Auto Insurance?

Commercial auto insurance covers your vehicles used for business reasons. Examples are delivering goods, transporting clients, driving between job sites, and other activities related to your business. Commercial insurance policies offer higher liability limits, cover multiple drivers, and additional coverage options that your personal policy doesn’t. Commercial policies cover company-owned and personal vehicles used for your business.

Why Reviewing Your Commercial Policy Matters

Whether you have a brick-and-mortar, home-based, or online business, reviewing and updating your business insurance policy is important. This includes your commercial auto insurance. The Giles & Iten team recommends an annual review. Your commercial auto insurance could change based on the number of employees driving the vehicles and other details.

Contact Giles & Iten Insurance For Commercial Auto Insurance

As a small business owner, you may be unsure of the difference between your personal vehicle and commercial vehicle insurance. Our experienced team can explain every detail and provide a policy that meets your needs. Contact Giles & Iten, serving Surprise, AZ, and get the proper commercial coverage today.

Things your home insurance doesn’t cover that may surprise you

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Your home insurance protects you from many hazards that can damage your home, providing a sense of security. However, like most types of insurance, there are exclusions, things that the insurance doesn’t cover. It is essential that you know exactly what is and isn’t covered so that you can make informed decisions about coverage. We are independent insurance agents at Giles & Iten Insurance in Surprise, AZ. We prioritize the needs of our customers and will ensure you understand your risks.

Floods

Given how common floods are across the country, it’s quite a shock to realize that your home insurance doesn’t cover damage from surface water. Especially since only an inch of water can cause $20,000 of damage. The good news is that flood insurance is available, and you can purchase it separately from the NFIP.

Some Breeds of Dogs

Having a dog is a liability, and it raises your risk of being sued. Some breeds of dogs are considered so high risk that your home insurance will not cover them. Be sure to discuss any dogs you have with your insurance agent.

Earth Movement

Your home insurance does not cover earthquakes, landslides, mudslides, and sinkholes. This is another type of hazard for which you can purchase a separate policy.

Owner Neglect

As a homeowner, the insurance company expects you to maintain your home. This means treating your home for termites or any other pests before it is damaged. It means replacing your roof before it begins to leak and causes damage to the interior of your home. It means keeping your trees trimmed so that the limbs don’t cause damage.

Contact our Giles & Iten Insurance office in Surprise, AZ when you need home insurance.

Car Was Broken Into! Now What?

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Despite taking precautions, you may find yourself a victim of a car break-in. Thieves can strike at any time, whether it’s your stereo, designer handbag, or any other valuable item. Fortunately, if you have insurance, you’re covered. But what should you do next? Being robbed can be a distressing experience, but having a plan can help you navigate the situation.

Immediate Steps to Take

Firstly, ensure you’re in a safe location. While most stories about car damage being part of a dangerous initiation ritual are urban legends, it’s better to be safe than sorry. Once you’re safe, contact the police and report the incident. If it’s safe to do so, document the scene by taking photos of your damaged car from all angles and making a list of stolen items. When the police arrive, they’ll ask you to file a report. Be ready with your license, registration, auto insurance ID card, and the photos and list of stolen items. If your credit or debit card was stolen, contact your bank immediately to cancel it. Next, file an insurance claim. Comprehensive insurance will cover the cost of repairing the damage to your car. Your condo, renters, or home insurance should cover your personal items.

Giles & Iten Insurance: Serving Surprise, AZ

If you’re in the Surprise, AZ area and need auto insurance, don’t hesitate to contact Giles & Iten Insurance. Our friendly and knowledgeable agents will help you find the policy that best suits your needs.

Does Commercial Insurance Protect All Types of Businesses?

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If you’re operating a business in the Surprise, AZ area, or considering starting one, ensuring you have the right insurance coverage is crucial. That’s where commercial insurance comes in, and Giles & Iten Insurance can help. However, not every business requires this type of coverage, so it’s essential to consult with an agent about your options.

How a Commercial Policy Enhances Your Business Protection

When you need protection for your business, choosing a commercial policy that aligns with your business type is important. For instance, a factory doesn’t require the same coverage as an office. Moreover, not every business needs this coverage. If you work from home on your computer all day without clients or vendors visiting, you won’t need commercial insurance for protection and security.

The Importance of Regular Policy Updates and Reviews

Regardless of your business type, reviewing and updating your policy is crucial. Once per year is often sufficient, but you may need to review more frequently if your business undergoes changes or experiences rapid growth. That’s why having a trusted agent is invaluable. Our insurance professionals will assist you in finding the right policy and keep it current as your needs evolve.

Get the Commercial Insurance Information You Need Today

If you live in Surprise, AZ, and are seeking a commercial insurance policy, contact Giles & Iten Insurance today. We’re here to help you find the right one, update your existing policy, and answer your questions. Our trusted agents understand the value of excellent coverage, providing you with protection and peace of mind.

How Much Content Coverage Should You Carry For Your Home Insurance Policy?

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At Giles & Iten Insurance in Surprise, AZ, we understand your desire, as a homeowner, to protect the structure of your home in case of a peril. However, we also know that you not only want to cover the house itself but also want to cover all the assets you own within your home. Still, how much coverage should you carry when it comes to home insurance coverage for your personal property (contents)?

When choosing a homeowners insurance policy, it is essential to do a full assessment of your home’s value. In this assessment, you will consider your home’s size and age, roof, and other features.

Calculating the Value of Your Home

When considering your home’s value, you must factor in the risk associated with living at your location. For instance, if you are in an area prone to flooding or earthquakes, you may have to consider purchasing additional coverage for those perils if not required by state or local laws or your mortgage company.

Then there is the factor of your budget. How much insurance coverage can you afford to pay for? A standard homeowner policy will allocate up to 70% of the dwelling coverage for your personal items within the home. For example, if your home is valued at $300,000, your personal property coverage could be up to $210,000. Suppose you have a wealth of items that supersede the $210,000 in personal property. In that case, you may consider adding additional coverage to your policy. Several major insurance agencies offer an extended replacement policy to customize your coverage up to 125% or more above the original amount of coverage.

It is important to inventory your personal belongings and adjust the amount whenever you purchase larger items in your home, such as TVs, computers, and appliances. You must also decide if you want your personal property claims settled on an actual cash value amount based on the depreciated value of your items or on a replacement cost basis based on today’s rates.

Call Us Today!

At Giles & Iten Insurance in Surprise, AZ, we get it. There is so much to consider when looking for the best homeowner insurance to suit you and your family’s needs. That is why we have licensed, trained experts who are knowledgeable and will help you make a well-informed decision and take the guesswork out of your home insurance policy. Cover your home and everyone and everything in it by giving us a call at (623) 201-8570.

How to Protect Your Travel Plans During Hurricane Season

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Planning a vacation trip out of town can be complicated. If you are traveling to Mexico or the Caribbean beaches, it is worthwhile to purchase travel insurance during the hurricane season (June 1–November 30). Giles & Iten Insurance of Surprise, AZ staff can offer policy options that protect your vacation investment.

What is Travel Insurance?

Like it or not, the world’s hottest vacation spots are in active hurricane zones. Chances are your travel plans will be delayed or canceled because of a hurricane warning. It is a smart move to buy travel insurance after purchasing your plane tickets and hotel reservations. But act fast; the policy will be deemed invalid if not purchased within days of finalizing your travel arrangements. Once a hurricane is identified and named, it is too late to obtain protection. The coverage has strict stipulations that offer only travel credit if your vacation plans are derailed.

What Travel Insurance Covers During Hurricane Season

Experienced travelers have extensive travel insurance policy that protects their investments if their flights and hotel reservations have been delayed or canceled during hurricane season. The coverage reimburses your travel costs if the vacation destination is deemed uninhabitable by local government officials following a hurricane. Also, you can submit a travel insurance claim if your vacation is cut short by a mandatory evacuation order in anticipation of the storm coming on land.

Understanding the travel insurance policy terms clearly will help determine what is or is not a valid claim. The specific language in the agreement is not easy to read, especially if you’re unfamiliar with insurance terminology.

Travel insurance can be a tricky proposition if the coverage is not sufficient. The Giles & Iten Insurance of Surprise, AZ staff can create a policy that protects your financial interest. Call and schedule an appointment today.

Three Reasons Why You Need Travelers Insurance for Your Upcoming Mexico Trip

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When planning a trip to Mexico, it’s worth considering purchasing travel insurance to protect you and your loved ones. This needs to be done before you embark on your journey, and the insurance company will require details about your itinerary and vacation location.

1. Reimbursement for Unavoidable Cancellations

Situations like sudden weather changes or family emergencies may force you to cancel your trip. This phenomenon is beyond anyone’s control, yet you might lose out on substantial nonrefundable payments. Travel insurance for Mexico can help you retrieve this money. Providing proof of the incident or natural disaster that caused the trip cancellation would allow you to make a claim and recover your money.

2. Additional Financial Coverage

There could be unexpected expenses that arise during your trip that you hadn’t anticipated before you left. It could be a theft incident that causes financial loss or an unforeseen medical emergency. Having your travel insurance cover these contingencies allows you to obtain financial assistance to manage these unexpected costs.

3. Baggage Coverage

International travel might involve risks like your baggage getting lost or delayed. There could be essential and hard-to-replace items in your luggage, and getting reimbursement in case they aren’t recoverable could be beneficial. With baggage coverage, you can claim items taken with you that might have been stolen during the trip.

Before starting your Mexican adventure, connect with our Giles & Iten Insurance agents today. Let us help you secure the appropriate Mexican travel insurance coverage and protection for your journey.

Understanding Agreed Value vs. Actual Cash Value in Classic Car Insurance

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Owning a classic car can sometimes be risky, but having the proper insurance can help protect your interests. When comparing classic car insurance policies, there are two standard terms you may come across: agreed value and actual cash value. Understanding the differences between these two terms can significantly affect your coverage and compensation following an accident in Surprise, AZ.

Differences Between Agreed Value and Actual Cash Value

What Is Agreed Value?

Under an agreed-value insurance arrangement, you and your insurance provider determine how much your vehicle is worth. This number will be the maximum amount that your provider will agree to pay after a covered loss. If you file an insurance claim, you may be entitled to the agreed-upon value or the full amount needed to fix the car. Agreed value is best suited for classic car owners who maintain or increase the value of their vehicle over time.

What Is Actual Cash Value?

In insurance, actual cash value (ACV) refers to the amount needed to replace your stolen or damaged property minus any depreciation at the time of the covered loss. This is the most commonly used method of valuation in auto insurance as it considers the real-world value of your classic car. The biggest downside of using ACV is that the payout may not always cover the cost of a comparable replacement car.

Contact Giles & Iten Insurance for Classic Car Insurance

The decision between agreed value and actual cash value will depend on many factors, such as the type of vehicle you own and how you use it. Working with an experienced insurance agent can help you determine the right valuation for your vehicle. Contact Giles & Iten Insurance in Surprise, AZ, at 623-201-8570 to learn more.

What Type of RV Insurance Do I Need?

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Arizona Motor Vehicle Insurance Requirements

All motorized vehicles on the road, including RVs, must be insured in Arizona. However, the variety of RV insurance options can be overwhelming and leave you questioning what type of coverage you really need. We at Giles & Iten Insurance, located in Surprise, AZ, are well-equipped to help guide you through the process and offer various RV insurance policies.

Type of RV

To start, it’s essential to understand the different types of RVs. Class A RVs are the most luxurious and largest, while Class B RVs, which resemble vans, are on the smaller end of the spectrum. Class C RVs, which fall between Classes A and B in terms of size, are also motorized. These classes of RVs require a specific policy tailored for the RV.

However, if you have a pull-behind RV, the scenario changes slightly. Generally, the vehicle’s auto policy towing the RV will cover liability for this type of RV, but it will not cover any damages incurred by the RV itself.

Liability Coverage

Liability coverage is a legal requirement if you own a motorized Class A, B, or C RV. This type of insurance covers damages caused to other vehicles if you are responsible for an accident and injuries to other drivers and passengers. However, if you have a towable RV, your auto policy will cover liability, removing the need for additional RV-specific liability coverage.

Full Coverage

Full coverage includes both collision and comprehensive coverage. If your RV is currently under a loan, your lender will most likely require this coverage. Collision coverage protects your RV from damages in case of an accident, while comprehensive coverage protects damages that occur while your vehicle is stationary.

Full insurance coverage can be selected for any RV. For towable RVs, the additional coverage will only apply to the RV and not to the vehicle towing it.

RV Insurance at Giles & Iten Insurance

Are you looking for RV insurance in Surprise, AZ? Giles & Iten Insurance is here to assist you. Our knowledgeable and friendly agents will spend time understanding your specific needs and help you select the policy that best fits your situation.

Here’s Why Umbrella Insurance is a Good Idea

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Umbrella insurance policies have become quite popular in recent years. These policies can be used to increase or expand coverage for many different events. Ultimately, umbrella insurance policies are crucial because they can mitigate risks. The right policies can increase security and help you enjoy peace of mind. If you’re looking for insurance agents that provide assistance to residents of Surprise, AZ, give Giles & Iten Insurance a call.

Risks Abound, and Standard Coverage Might Not Be Enough

The modern world has so many risks that it can be hard to wrap your mind around them. Hurricanes, tornadoes, hail, and many other weather events seem to be becoming more common and the damage can quickly add up. Your current policy may only cover a limited amount. If someone falls in your home, you may have to be found responsible for paying for their medical care.

You might be targeted by online scammers as well. Consider that while social media makes it easy for people to stay in touch, it’s also used to scam people. According to the FTC, fraudsters using social media to scam people ultimately caused more than $1.4 billion in damages in 2023.

Your current insurance plan may cover the above events. However, some things may not be covered, and you may not even realize it. For example, you may not have adequate coverage for identity theft and cybercrime. Perhaps your policy will provide coverage, but only for a small amount, say $50,000. These days, criminals can sometimes cause far higher losses.

However, you may be able to take out an umbrella insurance policy to provide extra protection for cybercrimes, personal injuries, dog bites, and many other events. Likewise, you might increase coverage for general theft if you have a lot of valuables in your home, like jewelry.

There are many different types of umbrella insurance plans, and what they cover can vary greatly. If you live in or near Surprise, AZ, and want to learn more about umbrella policies, contact Giles & Iten Insurance.