Two Main Types of Life Insurance

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There are two main types of life insurance that you can get. The two types are very different, and it’s a good idea to understand them both before choosing the best policy type for you. Each comes with its own benefits as well as its drawbacks. When you need life insurance to protect your loved ones, give us a call today at Associated Insurance Agencies Inc. in Westerville, OH.

Whole Life Policies

A whole life insurance policy is a type that is popular for its many benefits. It is named the way it is because it covers you for the whole duration of your life. Even if you become quite elderly, the policy will stay in effect if you keep making the premium payments as agreed in the contract. If you do that, the company can’t cancel your policy, which will stay in place until you pass. Keeping your policy also builds a value that is there for you should you need it. This is an amount that you can borrow if you should ever have a financial problem and need the cash. 

Term Life Policies

When you have a term life policy, it has the benefit of being inexpensive. This type of policy is popular for its low price. However, it is also named for the amount of time it lasts, for a specific term. These policies have a set period that they last, and then they will expire. This can be a drawback, but many people find that it’s the only type they can afford on their budgets. 

Get Life Insurance

When you need to get a life insurance policy put in place, call us at Associated Insurance Agencies Inc. in Westerville, OH.

How much car insurance do I need? Is the state minimum enough?

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You’re driving along and minding your business when another car rear-ends you. Thankfully, you’re unharmed, but your car is totaled. Now what? Do you have enough car insurance to cover the damage? Associated Insurance Agencies Inc. is here to answer your questions.

Ohio requires all drivers to carry a minimum amount of car insurance, but is that enough to protect you financially if you’re in an accident? Unfortunately, the answer is usually no. 

The State Minimum Is Usually Not Enough 

You hit a pedestrian with your car, and they suffer severe injuries. The average hospital stay in Westerville, OH, costs about $10,000, so if your medical coverage only pays $5,000 per person and $10,000 per accident, you could be on the hook for the remaining $5,000. And that’s not even considering any lost wages or pain and suffering damages the pedestrian may be awarded. 

How Much Insurance Should You Have for Your Car? 

So, how much do you need if the state minimum isn’t enough? That depends on a few factors, such as your assets and how much risk you’re willing to take on. However, most financial experts recommend carrying at least $100,000 per person and $300,000 per accident in bodily injury liability coverage. Additionally, it’s also good to carry $50,000 in property damage liability coverage. 

The state minimum amount of car insurance is usually not enough to protect you financially if you’re involved in an accident. Associated Insurance Agencies Inc. recommends carrying a higher amount in bodily injury liability coverage and property damage liability coverage in Westerville, OH. Contact us today, and we’ll find the right amount of coverage for your needs.

What Ohio motorcycle owners need to know about liability protection

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Associated Insurance Agencies Inc. is here for the Westerville, OH motorcycle community. Motorcycle insurance can be confusing, and you may have questions about which policy suits your needs. Let us help you with any questions that you may have about your motorcycle insurance.

Important information about liability protection

Motorcycle owners who opt for basic protection when choosing their insurance policies often have gaps in coverage. One of the most common of these is the amount of liability protection they carry. Without adequate liability protection, owners can find themselves financially responsible for damage caused by accidents or mishaps involving their motorcycles. A policy that provides adequate protection is a smart move!

With a policy that provides robust liability protection, this risk can be lessened. Liability coverage can protect you and your family from unwanted expenses. If someone is injured in an accident involving your bike, many issues can arise concerning who is liable for costs related to medical expenses and property damage. Now is a great time to review your motorcycle policy in full and sit down with a local agent to address any questions or concerns you may have.

Having the right amount of liability protection in place will let you enjoy your bike with the peace of mind that comes with knowing that you have the protection you need!

We are here to help you with all of your insurance needs

Motorcycle owners in the Westerville, OH area can turn to the Associated Insurance Agencies Inc. team for all of their insurance needs. If you have questions about your motorcycle policy, we are here to help. Call or stop by our office today!

Why You May Need Umbrella Insurance

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If you already have the insurance policies you need to protect your assets, you may think you don’t need any other insurance policies. However, an umbrella insurance policy works with the insurance you already have to protect you even better. You could still be underinsured against a severe event if you have home and auto policies. If you want to be better protected with an umbrella policy, call Associated Insurance Agencies Inc in Westerville, OH.

Coverage for Home and Auto

If you’re like most people who own a home and a vehicle, you know how important it is to keep them both insured. When you have both a home and auto policy, you may think you have plenty of liability insurance in case of an accident. However, the policy you have may have very little in the way of liability coverage. If this is true, then your insurance might not be able to cover all of the medical bills that you will owe after an accident. To remedy this, there is umbrella insurance. It has more liability insurance than either your home or auto policies, and it adds it right on to both of those policies.

Paying Overages

If there has been an accident that you are liable for, the first thing that happens is that the home or auto policy steps in to pay for the medical bills of the injured party. If there isn’t enough coverage to pay for all of them, that will leave an overage. If you don’t have umbrella insurance, you are liable for paying the overage. If you do have this insurance, the policy will pay that overage. 

Get Covered Today

Call us at Associated Insurance Agencies Inc in Westerville, OH to get started with umbrella insurance.

Health insurance terms you need to understand

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Health insurance coverage is one of the most important types of insurance. That makes it so stressful to choose the one that is right for you. At Associated Insurance Agencies Inc. in Westerville, OH, our dedicated team will work with you to ensure that the insurance you purchase is the one you need. As an independent insurance agency, we provide the most choices of carriers and policies. 

Managed care

Managed care is a type of healthcare where the doctors and healthcare providers members are allowed to visit are restricted. Depending on the type of managed care you have, you may not be able to go outside the network for anything but an extreme emergency. In others, you are allowed to go outside the network but will pay more to do that. You must follow the rules of the type of plan you choose. 

Deductible

The deductible is the amount members must pay out of pocket before their health insurance begins to pay the designated amount for that service. If you have a plan with a high deductible, you may be eligible to have an HSA (health savings account), which allows you to save tax-free for medical expenses. 

Copay

The copay is the portion of the cost for any service that you pay after you have met your deductible. 

Network

The network is made up of healthcare providers who have contracted to provide services to members at a discount price. With some plans, these are the only providers you are allowed to see. 

Formulary

The formulary is the list of prescription drugs the health insurance pays for. It is listed in tiers by price. 

Contact Associated Insurance Agencies Inc. in Westerville, OH, to discuss our health insurance options. 

 

Planning for Your Funeral: A Beginners Guide For Serious Thinking

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A funeral is one of your most challenging and important decisions. The thought of planning for the inevitable can sometimes feel unbearable. But planning for it now can save your loved ones added stress and burden when your time comes. Associated Insurance Agencies Inc. understands this process is critical, so we’re here to help those in the Westerville, OH area plan for the future.

Choose Your Disposition Method.

One of the most important things to decide is what method you will use to dispose of your remains after you die. Some people donate their bodies for medical training to help future doctors, while others prefer to have a more traditional funeral. Many options allow you to select a different method of disposition to best suit your needs and preferences. If you are more earth-conscious, you can even have a green burial.

Decide How You’d Like To Be Memorialized.

This can be very personal. Do you want a religious ceremony or a small private gathering? Maybe you’d prefer a celebration of life party? It’s essential to do your research and get several estimates to better understand what you’re looking at and what your final costs will be.

Determine Your Final Resting Place.

The next step is to determine your final resting place. If you want to be buried in a cemetery, you may need to reserve your plot ahead of time. If you wish to donate your organs, you need to register for the program first. Scattering your ashes legally often requires permission from the local authorities first.

Plan Your Payment.

The next important step is to work out the costs of your funeral. Address any outstanding debt before the funeral to make sure you have the funds to pay for your funeral. It’s important to remember that if you don’t pay off any debts before your death, your loved ones may have to pay for the funeral and related costs. Make sure you have enough money saved for your funeral costs, either as a gift for your loved ones or as a separate fund.

Consider Life Insurance.

One of the final things to consider is purchasing life insurance. This insurance pays a death benefit if you die while on the active policy. The death benefit can then be used to pay for your funeral costs or to help your loved ones pay off any remaining debt. Associated Insurance Agencies Inc. of Westerville, OH can help you find the right life insurance coverage for your final plans.

How To Prep for an Out-of-State Road Trip

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Planning a road trip is exciting but requires a lot of planning and prep. You have to figure out where you want to go, what you want to see, and how you want to get there.

This can all be a lot to think about when you’re just getting ready to leave the driveway, so it’s essential to take some time to plan out your trip and make sure you’re prepared for the road. Associated Insurance Agencies Inc. is here to help the people of Westerville, OH plan to get the most out of their trip safely.

Before You Go

  • Perform a basic maintenance check of your car. Take a good look at your fluid levels, changing and topping off as necessary. This includes oil, coolant, and brake fluid. Change your engine and cabin filters if needed. Ensure your tires are correctly inflated, have a spare tire, and the equipment you need to change a flat.

Note: If you don’t feel comfortable doing this yourself, take your car to your local mechanic.

  • Have your emergency kit ready. This includes a flashlight, a first aid kit, a cell phone, and jumper cables. If you can, have some emergency money set aside for unexpected expenses.
  • Plan your route. Make sure you know where you’re going and how to get there. Check the weather forecast, and don’t drive into weather you aren’t comfortable navigating.

On The Road

  • Always wear a seatbelt. It’s the law. Not only that, but it can save your life. If you have small children in the car, ensure they’re correctly restrained with a child or booster seat.
  • Avoid driving at night. If you must, then avoid stopping in unfamiliar areas at night. This is especially important if you’re alone.
  • Do not drive while impaired. This means no drinking and driving and also no texting while driving.

Even if you’re the safest driver you know, you can still get into an accident. Ensure your financial security is not at risk with a comprehensive car insurance policy from Associated Insurance Agencies Inc. in Westerville, OH!

Motorcycle Insurance Options in Westerville, OH

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If you’re a motorcycle enthusiast, you know that protecting your investment is essential. That’s why finding the right insurance is vital. There are a few things to consider when shopping for motorcycle insurance in Westerville, OH.

What Type of Coverage Do You Need?

There are a variety of coverage options available for motorcycle insurance. The type of coverage you need will depend on several factors, including the value of your bike and your riding habits.

For example, if you only ride occasionally, you may not need the same level of coverage as someone who rides daily. Your Associated Insurance Agencies Inc. agent can help you determine the right coverage for you.

What’s Your Budget?

Your budget is another crucial factor to consider when shopping for motorcycle insurance. There are various coverage options available, and the cost will vary depending on the level of coverage you choose. Also, your motorcycle’s value, riding habits, and the state in which you live will all affect your insurance premiums.

Do You Have a Vehicle Loan?

If you have a loan on your motorcycle, your lender will likely require you to have comprehensive and collision coverage. This type of coverage protects your bike is damaged in an accident. It can also help pay off your loan if your motorcycle is totaled.

What is Your Motorcycle’s Value?

The value of your motorcycle can determine your coverage needs. If you have an expensive bike, consider comprehensive and collision coverage. These types of coverage can help repair or replace your motorcycle if it’s damaged.

These are just a few things to consider when shopping for motorcycle insurance in Westerville, OH. For more information, contact the Associated Insurance Agencies Inc. today. We’ll be happy to answer your questions and provide you with a free quote.

Is it helpful to have umbrella insurance in Ohio?

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People that live in the Westerville, OH area will want to ensure that they are adequately prepared for the unexpected. A great way that this can be done is by ensuring you have proper personal liability coverage. You can protect yourself by getting an umbrella insurance plan, which provides personal liability insurance protection. There are various reasons why this coverage can be helpful. 

Coverage on top of Base Plans

You should consider getting an umbrella insurance plan because it will provide you with coverage on top of your base insurance plans. When you have an auto or home insurance plan, it will give you some level of liability coverage. However, there is always a chance you could be involved in an accident with damages exceeding your existing coverage. An umbrella insurance plan gives coverage on top of this. 

Broad Liability Coverage

You should also have an umbrella insurance plan because it will provide broader coverage. While having a home or auto insurance plan with liability coverage is helpful, you need to mitigate other personal liability risks. A great way to receive coverage for more risks is by obtaining an umbrella insurance plan. With umbrella insurance, you will get coverage for more of these situations. 

Those in the Westerville, OH area will want to know that they have the right insurance at all times. As you are looking for a new umbrella insurance plan here, it would be wise to start your search by calling the team with Associated Insurance Agencies Inc. The professionals with Associated Insurance Agencies Inc. understand this unique type of coverage and can ensure you build a plan that offers the proper liability coverage. 

Who should have a home insurance plan in place in Ohio?

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The Westerville, OH area has continued to be a great place to own a home. If you purchase a property here, you will want it to be a place that you can enjoy for a long time. One of the ways that you can protect this asset is by getting a home insurance plan. There are various situations in which someone should have home coverage here. 

When Looking to Protect Assets

A situation when someone will want home insurance is when they want to protect their assets. A proper home insurance plan can cover your dwelling and any personal belongings up to the policy limits. This will help protect against various risks, including bad weather damage, fire, theft, or vandalism. If you own valuable collectibles, they can be separately insured by a rider to the plan. 

When Trying to Mitigate Liability Risk

Another scenario in which you should get home insurance is when you want to offset your liability risk. If you are going to own a home, there will always be a risk that an accident could occur that you will be responsible for. If you have proper insurance in place, you will be able to mitigate this coverage with liability insurance. 

Having a home insurance plan should be a top priority for anyone in Westerville, OH. As you are evaluating your options, you may find that you have questions about this type of coverage. To ensure that your questions are adequately answered, it would be a good idea for you to call Associated Insurance Agencies Inc. The team with Associated Insurance Agencies Inc. understands the value of this coverage and will help someone build a plan that is right for their situation.