Is Life Insurance Worth It?

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Life insurance protects your family in the case of death, injury, or illness. It can also cover you if you cannot earn a living or something unexpected happens, like a job loss or a serious illness. 

The best life insurance is designed to cover a person’s short-term needs and allow them to keep making payments for a while. However, it’s also essential to consider the total cost of the policy when determining whether or not it’s a good fit for your situation. 

How to Apply for Life Insurance

The application will require information about your age, health, occupation, and other pertinent information. When shopping for life insurance, don’t limit yourself to looking at the rate and the number of years of coverage. 

Look at the coverage value and not the value of your house or your savings. Life insurance policies provide different values to different people because people value different things. If you’re reading this, you’re probably one of the more than 191 million people in the U.S. who do not have life insurance. 

Some policies have shorter terms, like six months, while others have longer terms, like ten years. The third is the annual premium. This is the cost of the policy each year, and it can be a considerable expense if you need to renew the policy often. 

There are other factors to consider, like whether you have any medical conditions that would disqualify you from coverage or if you smoke or drink. If you’re not sure if life insurance is right for you, talk to an advisor at your bank or brokerages about what’s available and how much it might cost. Giles & Iten Insurance, serving at Surprise, AZ, can get you set up. 

Bottomline

Life insurance will help protect your family against financial emergencies. It can also help cover expenses if a loved one passes away, especially if you can’t afford to pay for it. And since life insurance is a financial commitment, consider how much you’ll need to put away each month to cover the cost of coverage. 

Some general tips to consider when weighing the pros and cons of life insurance include the amount of coverage you need and whether or not a policy provides a good value for your specific needs. For help, consult Giles & Iten Insurance, a firm serving clients in Surprise, AZ.

4 FAQ about auto insurance in Surprise, AZ

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Auto insurance isn’t a luxury. It’s the law.

Arizona drivers are subject to specific auto insurance requirements like most other states. Giles & Iten Insurance knows keeping up with these mandates can be confusing. Luckily, their agents can help.

Serving Suprise, AZ, Giles & Iten Insurance answers four frequently asked questions about auto insurance.

What auto insurance is required?

Described by statute as "mandatory insurance," Arizona requires liability coverage. This includes $25,000 of bodily injury liability for any one person and a total of $50,000 for two or more people. The state also mandates a minimum of $15,000 in property damage liability.

How is Arizona’s auto insurance law unique?

Arizona offers a couple of distinctions that aren’t very common. First, it is a comparative negligence state. This means that "fault" can be split between multiple drivers based on a percentage of responsibility. Additionally, Arizona is also a diminished value state. This allows drivers to make claims to recoup losses based on reduced re-sale value resulting from a collision.

What are the penalties for driving uninsured?

Motorists who drive unlawfully are subject to penalties. These are based on the number of offenses but often include steep fines and suspension of driving privileges. The cost of auto insurance will also increase in the future.

What options can I add to my policy?

Minimum auto insurance is rarely enough. Although Arizona drivers can opt out of underinsured/uninsured protection, these are encouraged. This shields you in the event of an accident with a driver who lacks proper insurance. Collision, comprehensive, and medical payment coverage are also recommended.

Contact an agent serving Surprise, AZ

Giles & Iten Insurance provides more than just answers. Their experienced agents can find a policy that keeps you safe and secure on the roadways. Schedule an appointment today.

What Commercial Insurance Do I Need In Arizona?

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From Tuscon to Phoenix to every city and town in between, Arizona businesses must carry both workers’ compensation and commercial auto insurance policies. The first, workers’ compensation insurance, is needed for any business that employs at least one person – full-time or part-time – and is used to pay the medical bills and lost wages of an employee that suffers a workplace injury or illness. Some coverage exceptions exist for contractors, casual workers, and domestic workers employed at home. The second, commercial auto insurance, is needed for any business-owned vehicles with the below minimum liability requirements:

  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $15,000 property damage liability per accident

While not legally required, if you subject employees to using their personal vehicles for work-related job functions, such as a delivery driver, you should insure their vehicle with a hired and non-owned auto policy as most personal policies will exclude business use. 

Although not required, small businesses in Arizona may also want to consider additional coverage to protect their corporation better. For example, cyber liability insurance can help businesses recover from cyber-attacks and data breaches by paying for the costs of notifying impacted customers, regulatory fines, and any other legal fees that may arise. At Giles & Iten Insurance in Surprise, AZ, protecting your business is our top priority. Our friendly and knowledgeable team of insurance professionals will take the time to learn about your business so that we can make personalized recommendations that best safeguard you, your employees, and your company. Give us a call today to schedule a no-obligation consultation. 

Getting Homeowners’ Insurance With A Bad Roof

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Insurance companies pay close attention to the roof of a home when underwriting a homeowners’ insurance policy. Of course, if your roof is in the best possible condition, you will qualify for ideal coverage at the most affordable price. However, a bad roof does not necessarily mean that you will not be able to obtain adequate coverage for your home.

If you have questions about insuring a home with a bad roof, Giles & Iten Insurance of Surprise, AZ is here to help. In fact, we take the time to work with every homeowner to ensure they get the best possible coverage for their unique home.

Homes With an Old or Damaged Roof

Insurance companies prefer homes to have newer roofs, but you will not automatically be denied coverage just because your home has an older roof. With that being said, the older the roof is, the more difficult it will be to get homeowners’ insurance coverage.

The reason for this is that an older roof is a greater risk, which is what insurance companies like to avoid. A roof that is damaged or worn is more likely to cause problems that will lead to claims.

Time for a Roof Replacement

The condition of the roof on your home will have a significant impact on the amount of money you will have to pay for homeowners’ insurance. If your roof is considerably old or has sustained damage, it may be worth it to invest in a professional roof replacement. Take the time to weigh the cost of a roof replacement with the additional expense of insuring a bad roof.

If you are unsure if you need to replace your roof before applying for homeowners insurance, contact Giles & Iten Insurance of Surprise, AZ. Our team will be glad to address all of your concerns. Give us a call today.

Renting a Car with Your Existing Auto Insurance

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Renting a Car with Your Existing Auto Insurance

When you need to rent a vehicle while traveling, the car rental agency asks to see your auto insurance policy. If you don’t have full coverage, they may ask you to purchase a temporary policy that brings you up to the full coverage level or they might require it. Does your auto insurance already meet the car rental agency requirements? Giles & Iten Insurance serving Surprise, AZ wants to explore that with you, so you don’t have any surprises when you rent a vehicle.

Rental Agency Requirements

When you rent a car, truck, or SUV, the rental agency wants to know that your insurance covers all possible accidents that could occur. They’re more worried about their own investment than they are about the other drivers’ vehicles. That means they want to know that you already carry full-coverage insurance.

The rental car company wants you to carry comprehensive and collision coverage in addition to your liability and property damage coverage. That’s because your property damage coverage doesn’t cover their vehicle even though it isn’t owned by you. When you rent from them, you effectively become the temporary owner of the vehicle you drive, so your property damage coverage only covers the other drivers and vehicles on the road.

That means that your minimum state-required coverage won’t cover what the rental agency needs it to cover. The rental agency will use its own requirements which will include collision and comprehensive coverage. The difference is that the car rental agency won’t offer reasonable rates for its collision and comprehensive coverage. You’ll pay quite a bit higher of a premium for coverage that only applies to the rental car.

Contact Giles & Iten Insurance serving Surprise, AZ for more information on how to upgrade your insurance before your trip, so you can save money and protect your own vehicle, too.

How will commercial insurance protect my business?

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Owning a business comes with risks, regardless of the industry you operate. As a business owner, your main goal is to suppress these risks that may interfere with the success of your business. One sure way of achieving this goal is investing in commercial insurance. Commercial insurance is that safety net that protects you financially against unfortunate occurrences like vandalism and fire.

To that end, procuring commercial insurance for your business is a worthwhile decision. At Giles & Iten Insurance, we are committed to helping our clients get the right insurance that suits their needs. If you are in Surprise, AZ, here is why you should invest in commercial insurance.

Protects your assets

If you are a business owner, you must value your assets like equipment or furniture. One unthinkable event could destroy all your assets. But commercial insurance offers the required coverage that replaces your assets.

Protects your employees

An ailment or work injury from a worker can cause a substantial financial constraint to your business. Luckily workers’ comp insurance covers such incidences, protecting your finances. 

Offers liability protection

Your customers could get injured at your workplace or maybe get sued due to a product or service defect. Legal fees don’t come cheap. That’s why commercial insurance is crucial for everyone in business, regardless of the industry.

Protects the image of the company

Most people are more likely to associate with a business that has insurance than those without one. They want to be sure of compensation in case of an unfortunate event. Commercial insurance gives you that added advantage when pitching for business. 

The law requires it

Most states, including Michigan, require that every business with employees invest in some aspects of commercial insurance. Operating without the state-required business insurance could lead to hefty fines that could damage your finances.

Commercial insurance near me

Commercial insurance is a no–brainer for every business owner. Make sure you get the right insurance to be well protected. If you are in Surprise, AZ, and its environs, don’t hesitate to get in touch with Giles & Iten Insurance for an affordable quote.

Common Myths About Home Insurance

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Home insurance is one of the best and most reliable protection of your home. Even though it is not required in the state of Arizona, it is still recommended to carry it to protect your home and yourself. There are many myths associated with home insurance, and Giles & Iten Insurance, an insurance company that services clients in Surprise, AZ and other nearby towns, decided to provide a list of a few of them: 

Myths About Home Insurance

Here are a few most common existing misconceptions about home insurance:

  • Home insurance is required by law. First, this requirement depends on the state. There are many states that do not require home insurance, and the state of Arizona is one of them. Therefore, if you own a home in Arizona, it is your personal decision, whether to buy it or not. 
  • It is expensive to carry home insurance. Yes, in general, home insurance is not cheap. However, many insurance companies constantly offer different discounts to make home insurance more affordable. 
  • Home insurance covers flooding. Many homeowners think that they do not have to purchase additional flood insurance – their homes will be protected. However, in reality, floods and damaged caused by them are not covered by standard home insurance. In this case, to be properly covered, they need to purchase separate flood insurance. 

There are many other moths associated with home insurance that should be debunked. If you live in Surprise, AZ or any other surrounding area, you should contact Giles & Iten Insurance for more information. Our insurance company specializes in all types of insurance, including home insurance as well.  

Should You Get Travel Insurance Before Going to Europe?

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With many Americans searching out European vacations, many people wonder what kind of insurance is necessary before traveling to a foreign country. Europe is a huge continent, and you want to make sure that you have protection no matter where you go.

Do you want to make the most of your trip and ensure that you have all the resources you need? Giles & Iten Insurance, which serves Surprise, AZ, understands your concerns. Here’s why you should consider buying travel insurance before a European vacation.

Travel Insurance Allows You to Cancel Your Trip

If something happens that should prompt you to cancel your trip, you may be able to recover some of the costs with a travel insurance policy. Trip cancellation is common after sickness, the death of a loved one, or a recent natural disaster. With travel insurance, you simply have more flexibility with your plans.

Travel Insurance Allows You to Delay Your Trip

If, for some reason, you need to delay your trip home, perhaps due to bad weather or an airline issue, you may need to cover the costs of hotels and meals during the remainder of your stay. Each policy kicks in at a different time period, so it is important to read policy documents.

Travel Insurance Allows for Trip Interruptions

Your trip may be interrupted due to an emergency at home or sickness. Travel insurance may provide assistance with some of the changes you have to make to your schedule, which could include new travel tickets and hotel fees.

Travel Insurance Can Help With Personal Belongings

Your personal belongings that you travel with could become lost, stolen, or damaged in transit. Many policies offer help with these types of expenses.

Travel Insurance Is Recommended

While you do not need travel insurance to visit Europe, it is recommended that you do have it. It can provide protection for many expenses you could face. If you still have questions, Giles & Iten Insurance serving Surprise, AZ can help you find a good policy.

Mexican Insurance FAQs

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If you are crossing to Mexico with a car, you may need to know a thing or two about Mexican insurance. Luckily, Giles & Iten Insurance of Surprise, AZ, got you covered when it comes to insurance matters. We offer numerous insurance coverages, ranging from auto, commercial, home, life, boat, and RV insurance. But today, we are answering questions you might have about Mexican insurance. 

Why do I need Mexico auto insurance?

When driving your vehicle on highways and other public roads, you are required to have at least liability insurance issued by a Mexican Insurance Company. Mexico doesn’t recognize foreign auto coverages, so your US car insurance may not protect you when you are involved in an accident in Mexico. 

Must I buy Mexico Insurance even if my domestic auto insurance has a Mexico endorsement?

Many insurance agents bordering Mexico offer a Mexico endorsement that covers you within certain miles from the border. But remember, this coverage is limited to the number of times you enter Mexico. Plus, it covers physical damage to your vehicle but not third-party claims. 

So, even if you have a Mexico endorsement, you should add third-party coverage that conforms to the authorities’ requirements. And one more thing — you need to buy Mexican insurance before entering Mexico.

Can a Mexican national drive my car? Will the policy cover them?

It’s a definite no. Mexicans are not legally required to drive a foreign-registered vehicle. And because it’s not legal, then it’s an exclusion for your Mexican insurance. 

How can I buy Mexican insurance?

Buying Mexican insurance is easy with Giles & Iten Insurance based in Surprise, AZ. After providing us with a few details, you will be on your way driving to Mexico. Please visit our website page today to get started.  

Advantages of Classic Car Insurance

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Classic cars are not only fun to drive, show and collect, but they are also a great investment. Some people collect as a hobby to preserve history, while others just love the luxury they bring. Whichever reason motivates you to have a classic car, you should consider insuring it. At Giles & Iten Insurance serving Surprise, AZ, we understand how important a classic car is, and so we have outlined some of the advantages you can enjoy by insuring your classic car.

Protects the Value of Your Car

Usually, the average car will lose value with time once bought. However, a classic car either maintains its value or increases with time. When you insure your vehicle, you get into an agreed-upon value of the car with the insurance company. Therefore, if the car gets totaled, the insurance company will give you the amount you agreed upon, hence protecting your car’s value.

It is Affordable

Most of the time, classic car owners are cautious on the road. In addition, the car is used once in a while as it is not the car for your daily errands or commute. That is why classic car insurance is affordable if you compare it to buying coverage for a new car.

Liability Coverage

Another advantage of classic car insurance is that it offers you liability coverage. Driving a classic car does not mean you might not get into an accident. Just like with new cars, this coverage is significant.  When you get into an accident where you are at fault, liability coverage will help cater for things like medical expenses for the injured party.

If you live in Surprise, AZ, and want to learn more about classic car insurance, you can reach Giles & Iten Insurance. We will ensure you enjoy the above advantages and much more through insuring your car.