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FACT! Not all insurance policies are the same and there is no such thing as “full coverage”. Like everything else in life, you get what you pay for.
The most common concern about insurance we hear is “how much does it cost”. Especially lately companies have been competing by price and reducing what is covered in your policy. While we strive to get you the lowest price possible through our various carriers, our goal is to make sure you are properly covered. It’s easier to sell the cheapest policy possible and send you on your way. Most of our customers have been with us for years and for good reason. When it comes to your welfare and you use your insurance policy you’ll quickly realize price isn’t the best basis for your decision to purchase. We are confident we will earn your trust as your insurance advisor and get you a policy that suits your individual needs.
With various companies we have choices you can trust and will get you the Best price for the Best coverage with one of the Best companies. We hope to earn your business as your insurance advisor for all your insurance needs.
Especially in Nevada your Auto Insurance is one of the most important purchases you can make. We have the highest number of uninsured drivers, theft, expensive cars, and an abundance of lawyers and some of the worst drivers in the country. FACT! Your insurance is going to be more expensive than someone that drives the backroads of Utah or anywhere else in the country for that matter.
Las Vegas is one of the highest rated States for insurance prices in the country. It is most likely that the other party will make a claim and get compensation. You need to have enough insurance coverage when you get into an accident. You can only buy the right insurance coverage before the accident. You have to live with the coverage you picked before the accident. There are over 6,000,000 accidents in the United States each year. Over 3,000,000 people are injured by car accidents. 115 people die each day in the United States due to an auto accident. Spend time to prepare for the worst so you can enjoy your life and protect the people you love.
If you were to get in an accident and had to go to the hospital, do you know how much your policy will cover? If your car was totaled, do you know how much they will pay? If your stereo is stolen, will they replace it?
Common Insurance Terms You Should Know
Bodily Injury/Property Damage Liability – Nevada law requires that you carry liability insurance. These coverages protect you if you injure someone else or damage someone else’s property while operating your vehicle. This coverage would pay damages on your behalf to the injured party. To activate these coverages, you must be legally liable for the injuries or damages.
Collision – This coverage protects against damage to your vehicle resulting from a collision, regardless of who is at fault. It provides for repair of the damage to your vehicle or a monetary payment to indemnify you for your loss. If the other driver is at fault, your insurance company may have a legal right to seek reimbursement from the other driver or the other driver’s insurance company.
Comprehensive – This insures you against theft or other damage to your vehicle resulting from causes other than collision. This can include wind damage, falling objects, fire, flood and vandalism.
Collision and comprehensive coverages are subject to a deductible that you, as the insured, would select. Other coverages that may be sold include towing, rental/reimbursement and mechanical breakdown.
Credit-Based Insurance Scores – A credit-based insurance score, sometimes known simply as an insurance score, is a number, based on certain aspects of your credit history that is used by some insurance companies to help determine your insurance premium. The credit-based insurance score has no relationship to credit scores used by lenders (such as the FICO credit score) that are typically used by lenders to evaluate the credit-worthiness of a borrower. Many insurers use their own methods to determine your credit-based insurance score, which means there can be a wide variation in the impact of a credit-based insurance score on 1 2009 National Association of Insurance Commissioners: 2006-2007 Auto Insurance Database Report 6your premium from insurer to insurer. Other insurers use credit-based insurance scoring models developed by third-party vendors, such as Fair Isaac Corporation, LexisNexis and Transition.
Deductible – A deductible is a portion of a covered loss that is not paid by the insurer. The deductible is subtracted from the amount the insurer would otherwise be obligated to pay you as the insured. The deductible amount is selected by you. Generally, a higher premium is charged for a lower deductible and lower premium for a higher deductible.
Diminution in Value – This refers to the possible reduced value of your vehicle as measured before a loss to the vehicle and after the repair of that vehicle. The idea is, all other things being equal, that a vehicle that has never been in an accident may, in some cases, be considered more valuable than a fully repaired vehicle. If your insurance policy provides for collision or comprehensive coverage under which your vehicle is being repaired, the loss to your vehicle will be measured by the language in the policy, and may not include any diminution in value. For claims against the negligent parties’ property damage liability policy, such loss of value may be compensable under some circumstances.
Indemnify – To indemnify means to restore a party who has had a covered loss to the same financial position that party held before the loss occurred.
Medical Payments – This coverage pays for reasonable and necessary medical expenses, without regard to legal liability, resulting from accidental bodily injury while operating or occupying an insured vehicle or being struck as a pedestrian by a motor vehicle. This “Med Pay” coverage is often purchased in nominal amounts, such as $1,000, to provide a means for quick payment of minor medical bills without having to deal with the courts or other insurance companies. An insurance company must offer this coverage because of Nevada Revised Statutes (NRS) 687B.145(3), but you are not required by law to purchase this coverage.
Uninsured/Underinsured Motorist – This covers you, your resident relatives and occupants in your insured vehicle if they get injured in an accident in which the owner or operator of another motor vehicle is legally liable and does not have insurance (uninsured) or does not have enough insurance (underinsured). By law, your insurance company must offer this coverage to you in an amount equal to your own liability limits (NRS 687B.145(2)). However, you do not have to accept the offer.
According to the National Safety Council there were 33,000 deaths and 8,000,000 injuries in 2002 that occurred in homes. Statistics also show that every 16 minutes a death occurs from a home accident and every 4 seconds an injury occurs. The injuries and fatalities are a result of poisonings, fires, suffocation and falls. The following resources will help prevent these common home injuries. I know, it says renters insurance. It has good stuff for homeowners and renters.
The most common property damage is due to high winds and rain. Yes, even in the Mohave Desert. Dog bites lead the way in liability claims.
Homeowners' insurance is an important part of your financial plan. It protects the home you live, the property you have, and can defend you if you are sued for damage or injury due to you and your family living in your home.
If you get too much coverage, you're throwing money away. But with too little, you won't be able to replace the life you lead before a disaster hits. We can get what you need, and we can still find ways to save you money.
Knowing what your insurance policy covers -- including fire, theft, and earthquakes -- is important. But knowing the things that aren't covered -- known as exclusions -- may be even more crucial.
Knowing beforehand what's in your insurance agreement -- and knowing your rights -- can leave you better prepared for the worst. Forewarned is forearmed. We can help in explaining your policy.
The coverage you need
Your homeowners' insurance policy should probably cover the following items:
The structure of your house. Don't base the cost of replacement of your home on what you paid for it, or on the value of the land. You're not replacing the ground around you, and construction costs might be much different from what you paid.
Replacement (Reconstruction) Cost vs. Market Value
One of the most common questions is why the replacement or reconstruction cost is often higher than the market value of the home. Market value is affected by economic factors - a home's current resale value could be much lower than it was even a year or two ago, which is what we have in Las Vegas, Clark County. The term "replacement cost" can also cause confusion as many customers think of it in terms of "if my home were destroyed, how much would I need to go and buy a similar home." In reality, customers are insuring their home so that if it were destroyed or significantly damaged, they would be able to pay for all the parts to be rebuilt. Think of it in terms of a car - you could buy a brand new car for $20,000. But if you had to buy all of the parts individually for that car and put it together, the costs could be significantly higher than $20,000.
Your personal possessions. Take an inventory of your home's personal property, especially high-priced items such as jewelry, furniture, and electronic equipment. Determine how much it would cost to replace everything if you lost your goods to theft or destruction. If you think you need more than what the basic policies provide, talk to your agent.
Create a home inventory
Additional living expenses if you can't live in your home. Additional living expenses are usually part of your standard policy and total about 20% of the cost of insuring your home. Policies that provide for unlimited expenses for a short period of time may also be available, as are policies for special situations, such as renting out your home.
Liability for injury to others. This will cover your liability should you be sued, consider getting more: In today's litigious society, potential damage awards could exceed those lower limits in a hurry. The cost difference to raise the liability limit to $500,000 is less than $30 a year in most policies.
Get special coverage if you need it. If you live in an area that floods frequently, you'll want to make sure your coverage won't leave you underwater in a flood. Similarly, residents in earthquake-prone areas have to weigh the added costs of earthquake insurance against the risks of being uninsured if the Big One hits.
Consider umbrella insurance. Umbrella insurance acts just like its name sake. It covers your auto, home and motorized toys like boats, and motor homes. You should homestead you home, but a law suite could still jeopardize you home, your paycheck (garnish wages), and your way of life. Umbrella insurance provides additional coverage that makes sure injured parties won't threaten to collect by taking away your home. Ask us about uninsured underinsured coverage on your umbrella that will protect you and anyone in your car who is injured by the at fault driver who has no insurance or not enough coverage to take care of your injuries.
Do you know what coverages you have? Know what stuff you have – take an inventory – photograph you personal belongings. If your house burned down today, do you know what your policy covers? Do you have enough to protect the ones you love and the life you lead?
Insurance poor is not having enough or the right kind of coverage when you need it most. If price is your only consideration, then drive a shopping cart and live in a cardboard box and you can avoid all this. We will get you the Best price, for the Best coverage, with one of the Best companies.
Renter’s insurance is much like homeowners insurance except you don’t cover the structure. Most apartment complexes require renter’s insurance before they will allow you to move in. You will have liability and personal property coverage. You can have insurance to cover:
Damages to furniture, clothing and other personal items
- Your personal belongings, whether they're in your home or elsewhere
- Personal liability for another's injury or their property, if damaged
You can also select policy enhancements and add-ons for valuable items like jewelry, antiques etc. for your belongings for full replacement costs regardless of depreciation.
This is liability coverage that goes over the liability coverages that you have on your home and auto, (or boat or motorcycle). It acts like an umbrella opening up to cover your personal liability for your auto and home. It requires underlying limits for the auto usually at $250,00/$500,000 and the homeowners or renters to be at $300,000. Sometimes it is called excess liability. Excess usually refers to only covering one type of the underlying liability limit, while the umbrella covers more than one liability exposure. A good site to find out how much liability you should have is: http://www.whatsmyliability.com/. It says that anyone can be sued for alleged negligent actions whether it is valid or not. I agree and that is why I have an umbrella over our auto and home. Umbrella coverage can be from $1,000,000 to $10,000,000 or more if needed. The umbrella can be added by the same company that has your auto and home coverage, or we can use a company that does just umbrella policies. This should give you some piece of mind in the litigious environment that we are living in the US.
Flood insurance is coverage for a property claim that causes damage to flowing water from the outside of your home to the inside. Rain damage from the roof is covered by your standard homeowners and renters insurance. We’re talking about water runoff. Approximately 10 years ago in the Las Vegas Valley, we experienced flooding by unusual rainstorms. The federal government constructed flood basins that we use as parks until it floods. Simply it is a system developed to capture quick rain runoff that can withstand the 100 year flood scenario. It is connected to a system of concrete canals that stays dry until we get a lot of rain. Before the basins were completed, mortgage companies required flood insurance before you could move into your home, because it was designated as a flood area. FEMA each year has to ask Congress for money to continue with the Flood insurance programs. Flood Insurance is underwritten by the federal government. You can purchase Flood insurance through a number of insurance companies like Hartford, Travelers, Universal, etc. The premiums are based on were you live and what is designated by FEMA as a flood area. The premiums are the same for each company. This insurance is used to cover the structure and personal property and the specific limits will be listed on your policy. To see if you were living is in a flood area, go to https://msc.fema.gov. They have a Q&A and a map service center.
Many companies will cover street ride motorcycles as they would for your autos. The type of motorcycle will determine which company will cover it. The custom bikes and older models may be limited to a few companies that will cover it for liability and for the coverage of the bike itself. I would recommend that you always keep the same liability limit as you would your vehicles. You are protecting your assets in a lawsuit for damage that you may have caused. More importantly, you will be able to have as much uninsured and under insured coverage as you would have for liability. Getting struck by someone without coverage or not enough to take care of a motorcycle injury is as high as one out of 3 accidents that take place in the Valley. Obviously, you could injure yourself more severely on a motorcycle. Medical payment is also available. We have many companies that will cover the Harley Davidsons, the custom made bikes, and the bike you own.
Boats, jet boats, and Jet Ski boat should be covered for liability and for property coverage. Many take into account that you will not be using them for the full 12 months and provide a graded premium to cover them. Discounts are available for safety features on your boats and for safety training and associations you belong to. Check out the boat safety courses for Nevada and other states: http://www.boat-ed.com/ . US Coast Guard safety and survival tips: http://www.boatingsafety.com/boats/cgchecklist.htm we can cover your boat no matter what size or what kind.
Motor homes, camping trailers, off road motorcycles and ATV’s.
Motor homes that are lived in for long periods of time can be covered as mobile homes having special liability and property coverage. Motor homes for vacation used are also covered with liability and for property coverage.
Trailers in general don’t need liability. While they are being towed, liability extends to the vehicle that does the towing. Trailers do need property coverage if they are stolen, damaged in a vehicle accident, or damaged by other perils.
Off road motorcycles and ATV’s should also be covered for liability and for property coverage. Off road injuries can be very severe. Letting someone ride your ATV or off road M/C opens the door for high exposure for liability due to accidental injury. We cover recreational vehicles. Check out this site for recreational vehicle safety tips http://www.safeco.com/insurance-101/consumer-tips/your-recreational-vehicle/recreational-vehicle-safety .
We have many choices you can trust for life and health. We have comparative raters for both life (over 40 companies) and for individual and group health (over 15 companies) showing a variety of options and premiums.
1671 W Horizon Ridge Pkwy , Ste. 121
Henderson, NV 89012
Available 8:00am - 5:00pm Monday through Friday