Your Basic Checklist When Renewing your Home Insurance Policy

What do you do when your renewal notice comes through the mail? Do you make sure to file it right then and there or do you just use the same coverage every year? There’s nothing wrong with not changing your policy; however, you should consider whether your existing coverage is enough for your needs. Your insurance company will notify you of the policy renewal and will give you new options for a new policy. It’s basically the same as a landlord giving their tenants new lease options by the end of their lease period. 

 

Policy renewal isn’t a light decision. Before you sign the papers and file for a new term, you first have to consider important factors. 

What to consider before you renew your policy

Change is the only thing constant in this world. You may have gotten a better job offer, got engaged, welcomed your first child, and more. With these changes, you also have to make sure that your insurance is keeping up. It’s imperative to update your policy if you see that your insurance doesn’t align with your present needs. Here are some things you can look out for. 

Check for rate changes

It’s important to check any rate changes for your homeowner insurance policy and premiums. You will be informed of the changes in rates and if that happens and you don’t know the reason for the sudden increase, then you need to speak with your insurance agent. The change may be because of the state of your home, your credit score, and if your home is exposed to more risks.

Check your liability limit

You need to revisit your liability limit or ask your insurance agent about it if you have made some changes to your home. You may have renovated your kitchen, installed a new pool, built a new garage, or made some other change in your property that might increase the risks of people in your home. Talk with your agent about all the options available for you. You also have to update them with the renovations as these may change the value of your home and you may be eligible for discounts. 

Take into account your lifestyle changes

Your policy will also have to be updated if you have bought any valuable possessions recently such as pieces of jewelry or computers. You can also make changes in your policy if you have a new member in the family or put up a new home business. 

These three are just the tip of the iceberg. There are still several other factors you can consider when renewing your policy. When you’re unsure what to do and the notification for a policy renewal comes around, it’s best to speak with your insurance agent about it. Here at London Insurance Agency, we have capable insurance agents and brokers who are more than ready to explain to you the options available for you and if there’s a need to renew or update your current policy. Give us a call regarding your homeowner’s insurance today!

6 Frequently Misunderstood Insurance Terms

The insurance world is broad and vast. It’s not surprising that many are misinterpreting terms and concepts in this field. While you can always call your insurer or agent to explain the concepts for you, it’s good to familiarize yourself with the terms, what they mean, and how these concepts can help you. Here are some of the frequently misunderstood terms in insurance. Read well and take note! The next time you meet with your agent or insurer, you already have a better grasp of what he/she is talking about.

Misunderstood Insurance Terms  

Policy 

This term means a contract between two people – you and your insurer. It has all the information, the terms and conditions of your coverage, and it includes all your exclusions as well. Ask for a personal copy of your policy and don’t be afraid to ask for clarification on the things you don’t understand. Knowing what’s included in and excluded from your policy will make it easier for you in the future when you’re claiming benefits. 

Accelerated death benefit

This term is often considered as a rider to a policy. As a rider, it’s usually an additional coverage that you can add to your main insurance policy. Along with accelerated death benefits, long-term care is another common rider.  The accelerated death benefit is designed for terminally ill patients. This add-on is typically used to pay off a debt to cover hospice expenses or to cover a special trip for the family. 

Contestability period

This is the time period after the insurance company issues your life insurance policy. At this time, the company will review the application to ensure that everything is accurate and you haven’t misrepresented anything. This period typically lasts for one to two years. The goal is to protect the companies from insurance fraud. 

Market value 

There are policies that offer market value. This means that you get the used or second-hand market value of an item if you’re going for a claim. The market value is based on the amount of the item before it was damaged or stolen. Your insurer will determine the current market value of the item and will give you the same amount to get a new item of the same condition. 

Permanent life insurance

Just like term life insurance, this policy also pays the holder a death benefit. However, the difference is that permanent life insurance gives lifelong protection so long as the owner continues to pay the premium. The accumulated money can be spent depending on your choices – you can purchase a home, a retirement plan, pay for emergency costs, and many more. It’s a good choice if you want to protect your family financially all the more. 

Grace period

Some insurance policies have a grace period. It’s a given time until your policy stays in effect even if you failed to pay the premium before the due date. The grace period usually lasts for a month. 

 

There are still more terms to learn so if you want to learn more and speak the insurance language fluently, you can always ask for assistance from our professional agents at London Insurance Agency. We are always ready to help. Give us a call today! 

 

The Pros and Cons of Leasing a Car

You need to consider your priorities when deciding whether you want to lease a car or to buy a new one. Some make decisions based on their financial capabilities, while some make their purchasing decisions based on their emotions and how much they like a car. It’s best to identify your needs before finalizing your decision. 

What is leasing?

Leasing isn’t the same as owning. When you lease a car, it means that you’re renting it for a specific length of time. Typically, the time frame is between 36 to 48 months. When the lease ends, you have the choice to return the car or purchase it for a predetermined price. The price is defined in your lease contract. 

 

When it comes to car payments, lease payments are much cheaper as opposed to monthly loan payments. The latter is calculated based on several factors including the car’s price, the interest rate, and the number of months you intend to pay the entire loan. Car lease payments, on the other hand, are based on the following factors. 

 

  • Sale price which is negotiated with the dealer and stipulated in the contract. 
  • The length of the lease in months/years. 
  • Expected mileage you can drive per year. The price increases with more yearly mileage. 
  • Rent charge is a dollar figure and not a percentage.
  • Taxes and other fees

Pros and cons of leasing a car

The major disadvantage in leasing a car is the lack of ownership much like when you’re renting a house. You can’t claim ownership of the property or to the car when the lease ends. There’s no way to get a return via trading or reselling. However, there are several advantages to leasing a car. 

Lower monthly lease payment

As mentioned earlier, the monthly lease is cheaper than the monthly car payment for a loan. You can even get a newer and more luxurious car if you opt to lease instead of buy. 

New car every after few years

The typical lease lasts for 36 to 48 months. After that, you can choose another car or buy the car you’ve leased. Often, people choose to get a brand new car every time their lease ends. 

Maintenance-free

New cars usually have a three-year maintenance coverage. This means that your maintenance is covered the entire time it’s leased. 

 

However, if you’re after ownership and considering long-term financial benefits, then purchasing a car is a better option for you. Many experts don’t share the same vision with people looking out for short-term car plans. They’d rather go for buying a car and maintaining it in an optimal condition for as long as possible. 

 

Regardless of what your choice is, the bottom line is that driving a car is a responsibility. If you intend to lease or buy a car, you also need to consider getting insurance to cover the cost in case of traffic accidents and other unforeseen situations. 

 

If you’re unsure of the kind of coverage you need, you can always reach out to one of our agents. We have professional and expert insurance agents who are ready to explain your options to you. Here at London Insurance Agency, your safety is our priority. 

What is a Beneficiary?

The term beneficiary is a common English word and it’s often associated with insurance. However, not many understand the entire concept of a beneficiary and its purpose. In simplest words, a beneficiary is a person(s) or element that you assign to get the assets after you die. For your beneficiary, you have the choice of naming one or more people, a charity, your estate, or a trustee of a trust you’ve set up. Without a beneficiary, all of your death benefits will go to your estate. Even so, your beneficiary is different and can be isolated from your last will. More often than not, you will be asked for a beneficiary if you have any of these accounts: 

 

  • Annuity contracts
  • Life insurance policies
  • Pension benefits
  • Individual retirement account (IRAs), 401Ks, and similar retirement plans

Choosing your beneficiaries

There are two kinds of beneficiaries primary and secondary. Your primary beneficiary is your first-named beneficiary. This person is often a spouse of the insured. The primary beneficiary typically gets the total policy benefits. The secondary beneficiary is your plan B in case that primary beneficiary is unavailable or isn’t willing to accept the benefits. If the primary beneficiary dies before the insured, then the benefits automatically go to your secondary beneficiary. 

 

There are several reasons why you need to pick a beneficiary. First of all, having a designated person will help avoid any conflict in the future. There are no doubts and confusion as to who gets what if you die. Aside from that, it’s also more efficient to have a named beneficiary before you die so that the transfer of assets is faster. Without a beneficiary, the transfer of assets will have to be postponed after you die. 

Can I change my beneficiary for my life insurance policy?

The quick answer is yes. If you change your mind and you want to change your primary or secondary beneficiary later on, then you are free to do so. However, if your beneficiary is ‘irrevocable’ then you will need their agreement before you can make any changes to their benefits. 

Are an heir and a beneficiary the same thing?

An heir and a beneficiary are different. The heir is a relative who is legally entitled to get an inheritance from a relative who passed away if he/she didn’t have any legal last will and testament. Without the will, the estate is typically passed on to the closest living relatives. While the partners or spouses aren’t considered heirs, they’re still the first in line to get assets via marital or community property laws. The beneficiary, on the other hand, doesn’t have to be an heir. It can be a friend, a long-term partner, a grandchild, a stepchild. 

 

If you are planning to transform or add more beneficiaries into your insurance policy, then you need to reach out to your insurer about it. If you don’t have any beneficiaries, then you might want to add one. It may not be a person, it can also be a charity or a trustee. 

 

If you have questions, you can always ask one of our agents here at London Insurance Agency. Our agents are connected to multiple companies to ensure that you get the best offer there is. Call us today!

Police Car Parked on the side of the road

Is Driving Without Insurance Okay?

There are only two states in the United States that allow drivers to drive without insurance – New Hampshire and Virginia. 

 

That said, all motorists in the state of Kentucky are required to have insurance. If you do hit the road without it, you will be notified that the registration of your vehicle is suspended unless you show your proof of insurance. There are many downsides to driving without insurance. You’re not only putting yourself at risk but this would also cost you money in fines, suspension of your driver’s license and vehicle, and jail time. 

 

Every state has its own imposed insurance requirements. For the state of Kentucky, the requirement is minimum bodily injury, personal injury protection coverage, and property damage. This includes the following: 

 

  • Personal injury protection
  • $25,000 for all claims for bodily injury damages by one person from one accident
  • At least $50,000 of bodily injury damages by all person from one accident
  • $25,000 for all property damage from one accident

 

It’s good to remember that your insurance isn’t only protection for you and your vehicle. It’s also your safety net, money-wise, in case of accidents on the road. It gives you peace of mind knowing that you don’t have to pay for the damages due to what happens on the road. 

 

Driving is a responsibility, not only for yourself or your family but with all the other cars that you’ll be sharing the public roads with. It’s part of your responsibility to get car insurance to protect yourself and the other drivers around you. 

Get vehicle insurance today

You can still get a policy today even if you’ve been driving around without insurance. You can get a policy that goes beyond what the law requires. There are several options available for you so you need to be careful in picking the right one. You can get inspiration from other insurers to know the best deals in the market today. You can then search for smaller insurance agencies in your community. They may offer you reasonably priced policies and may not focus on the fact that you’ve been driving your vehicle without insurance for a while. 

 

Aside from that, it is also wise to identify your needs early on. You should also know your goals and your present situation to the insurer. These factors will impact which insurance company you choose. There are companies that offer discounts for specific demographics and driving behaviors. Some examples of these discounts are: multi-policy coverage, safe student drivers, and defensive driving. 

London Insurance Agency is a local insurance agency with expert and experienced insurers. We have independent agents connected to more than one insurance company. This gives you more policy options that are based on your specific needs and budget. With wider coverage options, you can be confident that you’ll be getting the lowest possible policy without compromising the protection you want. If you’re around Corbin and London Kentucky, don’t hesitate to give us a call.

How to Choose a Good Insurance Company

Choosing an insurance company in Kentucky is not an easy task. It means looking for the right insurer where you can invest your hard-earned money for a secured future. This amount of trust you put in a company calls for informed and prudent decision-making. Here are several things you should look for in an insurance company: 

License 

Not every company is licensed to operate in each state. As a general rule, you should buy from a company licensed in your state, so you can rely on your state insurance department to help if there’s a problem. They regulate the Commonwealth’s insurance market, license agents, and other insurance professionals, monitor companies’ financial conditions, educate consumers to make wise choices, and ensure Kentuckians are treated fairly in the marketplace. To find out which companies are licensed in your state, contact the state insurance department.  

Financial Stability 

In selecting an insurance company, you have to consider the insurer’s financial stability. When buying life insurance, you enter into a contract (the policy) for the long haul. Since a payout on your policy may be decades away, especially with permanent life insurance types, you need a company that can weather the ups and downs of the economy and financial markets. Life insurance companies will generally post their ratings on their website or ask your insurance agent. Look for an insurance company with the assets to pay out claims. While past performance is no guarantee of future results, insurers with more outstanding claims-paying ability today are more likely to perform better between now and the claim time. 

Customer Service 

Regrettably, some insurance companies provide only good service when convincing prospective clients to choose them as their insurer. Look for a company where you’d be able to talk with an agent if you have a problem. It also helps find a firm with a chat feature or a brick-and-mortar office in your area like London Insurance. Before you purchase an insurance policy, read reviews that detail common customer service inquiries and check whether the company has the type of customer service you expect. You can also spare some time to inquire among family and friends who have insurance plans. 

Cost and Coverage 

There are so many insurance companies in the state with several types of insurance plans to choose from. The good thing is that many of these companies allow you to tailor-fit your insurance plans to suit your personal preferences. So, when selecting an insurance plan, make sure to ask yourself questions like how much money you need, when you need it, and how you want to receive it. Afterward, compare policies that technically provide the same coverage. Some plans may cost more because they offer additional coverage. If you find this extra provision useless to you, it may be wiser to choose the more affordable option. 

 

So, before you buy a policy, make sure to learn all you can about a company’s background, insurance offerings, and reputation with its current customers. A little research can go a long way to help you gain peace of mind – or directly contact London Insurance, a company Kentuckians have trusted for many years now! 

 

Understanding Insurance Policies

Insurance policies are used to hedge against the risk of financial losses, both big and small, resulting from damage to the insured or their property or liability for damage or injury caused to a third party. Unfortunately, many purchase a policy without understanding what is covered, the exclusions that take away coverage, and the conditions that must be met for the coverage to apply when a loss occurs.  

 

This article aims to remind consumers that reading and understanding your entire policy can help you avoid problems and disagreements with your insurance company in the event of a loss by understanding your insurance policy. 

 

What Is An Insurance Policy? 

An insurance policy is a legal contract between the insurance company (the insurer) and the person(s), business, or entity being insured (the insured). It lays out what’s covered, what isn’t, and other details of your agreement, so it helps you verify that the policy meets your needs and that you understand your responsibilities and that of the insurance company if a loss occurs.  

 

The Basics of an Insurance Contract 

These forms state the coverage term, the insurance policy limits, the grant of coverage, exclusions and other limitations of coverage, and the duties and responsibilities of the insured in 

the event of a loss.  

 

The Declaration Page 

This page is usually the first part of an insurance policy, also known as the information page. It identifies the name of the insured, their address, what risks or property are covered, the policy limits, the policy period (i.e., time the policy is in force), and other essential information that varies from policy to policy. 

 

The Insuring Agreement 

This is that portion of the insurance policy in which the insurer promises to make payment to or on behalf of the insured under the contract terms. It is usually contained in a coverage form from which a policy is constructed, often outlining a broad scope of coverage, narrowed by exclusions and definitions. In the Insuring Agreement, the insurer agrees to do certain things such as paying losses for covered perils, providing certain services, or agreeing to defend the insured in a liability lawsuit. 

 

The Exclusions 

These provisions in policy will fix the limits on the promises of coverage stated in the insuring agreements. These provisions serve one or more purposes, including elimination for coverage of (1) coverage for losses caused by specific perils, (2) coverage provided by other insurance, (3) coverage of uninsurable losses. Exclusions are those portions of the insurance contract which limit the scope of the coverage and/or list the causes and conditions which are not covered

 

The Conditions  

Conditions are provisions inserted in the policy that qualify or place limitations on the insurer’s promise to pay or perform. If the policy conditions are not met, the insurer can deny the claim. Insurance policy conditions are important because they address a wide variety of issues, including if or how other insurance contributes, how and when the insured must give notice of a claim, the insured’s duties after a loss or occurrence, the insurer’s subrogation, and other rights, and what happens in cases of fraud or misrepresentation by the insured. 

 

To obtain a copy of your insurance policy, please contact your insurance agent or company. If you are still looking into getting an insurance policy, London Insurance is here to assist you!

Why You Should Get Life Insurance Today

No one saw the pandemic coming. Indeed, no one can predict the future. You’ll never know when you’ll find yourself in a situation where you will need an insurance plan — be it illness, hospitalization, retirement, death, or even an auto accident, a property incident, or an economic crisis affecting your business. And because you don’t know for sure when you’ll need it, why not plan early? 

 

According to the American Council of Life Insurers, life insurers pay out $18.6 million in life insurance and annuities to Kentucky families and businesses every day. From life insurance to retirement savings and personal pensions, long-term care and disability income insurance to supplemental benefits and paid family and medical leave. You can think of it as fool-proof protection for you and your loved ones not only when your business is doing great or within your lifetime, but even beyond.

Loss of income

Your income is one of your greatest assets. Imagine if all of a sudden you had to deal with a medical emergency, a situation similar to COVID-19, which affected our jobs and businesses, or worse, the untimely passing of your family’s breadwinner. Where would you get the funds to finance unexpected expenses? Life insurance protects your income in such a way that it acts as a replacement so you can pay off debts and other costs. And if anything happens to you, life insurance secures your family’s future and frees them from financial worries

 

It takes care of expenses like a mortgage or college education, which you would no longer be able to support. You’ve probably heard of it as forced savings plan too, which enables you to set money aside and safely put it away in life insurance. With it secured, you can be confident that the funds will be there and ready for your use when you decide to bring your plans to fruition. 

More upsides to built-in cash

This is even better when it comes with a built-in cash value, which is invested in stocks, bonds, and mutual funds with a potential to earn higher returns. This cash value can be withdrawn should the need arise or enable you to reach your financial goals in a shorter period. Nothing beats the peace of mind that having life insurance brings. 

 

You don’t have to worry about how to finance your needs if you have an accident or suffer from a disability, nor do you have to be anxious about your family’s future when you are gone. With life insurance to take care of these concerns, you can focus more on the things that matter now, like working hard and building your relationships.

 

Besides all the benefits insurance offers, know that the life insurance industry provides good jobs and long-term investment capital that spurs economic growth. In Kentucky, the life insurance industry generates 24,500 jobs and invests $60 billion in Kentucky’s economy. The life insurance industry helps Kentucky families secure the things that matter most through all stages of life. Don’t know how to get one? No problem! Getting a life insurance plan is made easy by London Insurance. We can help you choose the life insurance plan most suited for you—and how you can make the most out of the unmatched protection that life insurance offers. Contact us today!

Insurance Options for the Church

Most churches operate on a very tight budget. A single incident without insurance can wipe out many churches financially. That is why church insurance is one of the best decisions you can make to protect your church and other religious organizations. Insurance companies offer many types of policies to protect your church’s most valuable assets – its people, property, and finances. 

Insurance Options

Choosing the right coverage is vital to the financial health of your organization. London Insurance understands your needs and offers a variety of church liability and property coverages you can select from to construct the perfect policy for your church:

General Liability Insurance

All church insurance policies include this coverage. It provides liability protection for your church members, officials, staff, volunteers, and employees, and if third parties are injured while performing duties for the church. It comes into play when the church is legally liable for bodily injury or property damage. In addition to paying the damages for the injured party, the policy usually covers defense costs for litigation.

Ministers and Pastors’ Liability Insurance

This coverage is essential for every religious organization and offers spiritual counseling liability protection. While you aim to offer the best advice you can provide, you may unintentionally negatively affect someone’s life. Policy terms vary, but coverage will often extend to clergy, church leadership, and paid or non-paid sanctioned volunteers.

Employee Practices Liability Insurance

It can cover paid employees and workers on stipends. EPLI protects the employer against wrongful termination claims, sexual harassment, discrimination, breach of contract, and emotional distress – covering damages and legal costs.

Directors, Officers, And Trustees Liability Insurance

This provides legal defense funds and helps protect your board members’ assets in the event of certain financial damages and lawsuits. 

Ordinance or Law Insurance

This is typically designed to cover the cost to repair or rebuild your property as it existed before the loss.

Religious Freedom Insurance

This protects against claims of emotional injury related to your ministry’s religious communications and activities. It also helps legally defend decisions based on your ministry’s beliefs.

Daycare and Preschool Liability Insurance

Many churches provide daycare or preschool options. This type of church liability coverage will handle any lawsuits brought by unhappy parents.

General Property

A part of all church policies will protect church property from damages due to severe weather, fire, falling objects, vandalism, and theft.

Cyber Liability Insurance

This can protect churches from the fallout of a data breach and cover losses from computer fraud, data destruction or loss, business interruption losses, and cyber extortion.

Truly, there are many insurance options available. Helping you choose the best one is what we do. We understand that your place of worship is unique and how you need complete protection, not one-size-fits-all coverage. London Insurance offers a broad range of insurance solutions. More than just policies, we deliver one-of-a-kind expertise, value, and tailored coverage! So, what are you waiting for? Call us today

Most churches operate on a very tight budget. A single incident without insurance can wipe out many churches financially. That is why church insurance is one of the best decisions you can make to protect your church and other religious organizations. Insurance companies offer many types of policies to protect your church’s most valuable assets – its people, property, and finances. 

Insurance Options

Choosing the right coverage is vital to the financial health of your organization. London Insurance understands your needs and offers a variety of church liability and property coverages you can select from to construct the perfect policy for your church:

General Liability Insurance

All church insurance policies include this coverage. It provides liability protection for your church members, officials, staff, volunteers, and employees, and if third parties are injured while performing duties for the church. It comes into play when the church is legally liable for bodily injury or property damage. In addition to paying the damages for the injured party, the policy usually covers defense costs for litigation.

Ministers and Pastors’ Liability Insurance

This coverage is essential for every religious organization and offers spiritual counseling liability protection. While you aim to offer the best advice you can provide, you may unintentionally negatively affect someone’s life. Policy terms vary, but coverage will often extend to clergy, church leadership, and paid or non-paid sanctioned volunteers.

Employee Practices Liability Insurance

It can cover paid employees and workers on stipends. EPLI protects the employer against wrongful termination claims, sexual harassment, discrimination, breach of contract, and emotional distress – covering damages and legal costs.

Directors, Officers, And Trustees Liability Insurance

This provides legal defense funds and helps protect your board members’ assets in the event of certain financial damages and lawsuits. 

Ordinance or Law Insurance

This is typically designed to cover the cost to repair or rebuild your property as it existed before the loss.

Religious Freedom Insurance

This protects against claims of emotional injury related to your ministry’s religious communications and activities. It also helps legally defend decisions based on your ministry’s beliefs.

Daycare and Preschool Liability Insurance

Many churches provide daycare or preschool options. This type of church liability coverage will handle any lawsuits brought by unhappy parents.

General Property

A part of all church policies will protect church property from damages due to severe weather, fire, falling objects, vandalism, and theft.

Cyber Liability Insurance

This can protect churches from the fallout of a data breach and cover losses from computer fraud, data destruction or loss, business interruption losses, and cyber extortion.

 

Truly, there are many insurance options available. Helping you choose the best one is what we do. We understand that your place of worship is unique and how you need complete protection, not one-size-fits-all coverage. London Insurance offers a broad range of insurance solutions. More than just policies, we deliver one-of-a-kind expertise, value, and tailored coverage! So, what are you waiting for? Call us today.

The Basics of Insurance

Understanding insurance can be complicated. Allow this article to explain the basics of insurance to help you understand how your choice of insurance will protect your lifestyle, assets, and personal property.

What is Insurance?

Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. These policies are used to hedge against the risk of financial losses, both big and small, resulting from damage to the insured or her property or liability for damage or injury caused to a third party.

 

Insurance is meant to protect you, your family, and the things you care about. The insurance you buy depends not only on what you want to preserve but also on what you can afford. Some insurance policies are must-haves – like your car insurance or fire insurance. With so many types of policies out there, how do you choose the right one? 

Types of Policies

Below are three main types of insurance policies and their purposes:

Life insurance

Life insurance can help secure your beneficiaries’ financial stability and create a meaningful legacy. Find resources to achieve your goals and create a solid foundation to support your family through all life’s stages:

  • For your dependents to receive financial support in the event of your death or total permanent disability
  • For your savings and investment, and
  • For a regular income during retirement

Health insurance

Health insurance is a type of insurance coverage that pays for medical and surgical expenses incurred by the insured due to illnesses or accidents. There are essentially two kinds of health insurance: Fee-for-Service and Managed Care. You can also choose to add long-term care and disability insurance. Now, plans in the U.S. are required to offer several “essential health benefits,” which include:

  • Emergency services
  • Hospitalization
  • Laboratory tests
  • Maternity and newborn care
  • Mental health and substance abuse treatment
  • Outpatient care (doctors and other services you receive outside of a hospital)
  • Pediatric services, including dental and vision care
  • Prescription drugs
  • Preventive services (e.g., some immunizations) and management of chronic diseases
  • Rehabilitation services

General insurance

General insurance is designed to protect the things you value. Your insurance company will pay you the sum assured or an agreed amount to cover some or all the loss under certain situations.

  • Loss of your belongings when you travel
  • Damage to your car (which is required by law)
  • Damage to your house

 

There are also property and casualty companies insured against accidents of non-physical harm. This can include lawsuits, damage to personal assets, car crashes, and more. Large property and casualty insurers include London Insurance Agency, State Farm, Nationwide, and Allstate.

What Insurance Do You Need?

To help you decide what insurance you need, make a list of the risks or events that concern you. Assess the likelihood of the event happening and the financial loss you or your dependents may suffer – like financial loss from large hospital bills, repair for car damage, etc. If you already have some insurance policies, check to see if these cover the risks you are concerned about. If you don’t have one, come to London Insurance Agency as soon as possible. Remember, you do not need to have insurance for everything, just the things that could set back your financial situation or your financial goals!