Reimbursement for Replacing Locks – Losing a key to your front door can be a hassle. For example, if you don’t have a spare, you’ll need to get an entirely new lock for the door. If that key is stolen, you may want to get new locks for all your doors. This coverage pays up to $500 to replace locks, with a $100 deductible, if a key is lost or stolen.
Like most small business owners, you probably purchase your insurance policies through an insurance agent or broker. The functions performed by insurance agents are similar, but not identical, to those performed by brokers. This article will explain how they differ. It will also explain how agents and brokers make money from the premiums you pay your insurers. Except where noted, the following discussion applies to agents and brokers selling property/casualty insurance.
By clicking the "FINISH" button above and submitting your online term life insurance quote request to SelectQuote, you are agreeing by your electronic signature to give SelectQuote and Inside Response, Allied Insurance Partners and LiveOps, Inc., your prior express written consent and continuing established business relationship permission to call you at each cell and residential phone number you provided in your online quote request, and any other subscriber or user of these phone numbers, using an automatic dialing system and pre-recorded and artificial voice messages any time from and after your inquiry to SelectQuote for purposes of all federal and state telemarketing and Do-Not-Call laws and your prior affirmative written consent to email you at the email address(s) you provided in your online quote request, in each case to market our products and services to you and for all other purposes. Your consent is not required to get a quote or purchase anything from SelectQuote, and you may instead reach us by phone at 1-800-670-3213.
Typically, your insurance policy will pay 25-50% more than the value of your home in the event it (and everything inside it) has been destroyed. This is called extended replacement cost coverage. But the cost of rebuilding is sometimes greater than a home’s value, which can leave a customer short in the event of a loss. Building materials and labor will continue to rise, but market value of a home is always in flux thanks to factors like neighborhood and the housing market. That means a home valued at $250,000 could end up costing $500,000 to replace. Other providers may only pay up to $375,000 in that scenario, but with MetLife’s unique guaranteed replacement coverage, you’ll receive the full $500,000.
Of all the variables that affect your premium, the most important will be replacement cost value. This is the amount of money needed to completely rebuild or replace your home in the aftermath of catastrophe. That number isn’t going to be the same as what you paid for your home (it should account for appreciation), nor the market value (which accounts for the plot of land and location). It’s best to hire an independent appraiser to get this number right and then confirm it with an appraiser from your insurance company. Now, the higher the replacement cost, the higher your premium, but don’t be tempted to underestimate it even if you’re eager to trim policy costs. This value is critical — protection against loss is the whole point of carrying insurance.
Life insurance can be very confusing. What is term life insurance? What is whole life insurance? How can you get the information you need and make the right decision about life insurance for you and your family or other beneficiaries? We’ll provide an overview of these two popular types of life insurance so you can get an idea of what might be a good fit for you. Find out more by contacting an insurance agent in your area.

In short, yes. Think carefully before filing a claim on your homeowners insurance, as it will directly affect the amount you’ll pay going forward. If you have two claims within three years, or three claims within five years, that increase can be as high as 20% as you’re shifted into a “high risk” category. It could be another five years before those claims drop off your record and the premium prices decrease.
To sell insurance products on behalf of a particular insurer, an agency must have an appointment with that insurer. An appointment is a contractual agreement that outlines the specific products the agency may sell. It also specifies the commissions the insurer will pay for each product. The contract usually describes the agency's binding authority, meaning its authority to initiate a policy on the insurer’s behalf. The agent may have permission to bind some types of coverage but not others.
ProtectorPLUS Zero Deductible Benefit – Waives homeowners insurance deductible (up to $5,000) if your home is severely damaged by a qualifying loss of $27,500 or more. For example, if your home is struck by lightning and there is massive electrical and structural damage that exceeds $27,500. Without ProtectorPLUS Zero Deductible Benefit, you would only receive payment for the loss that exceeds your deductible.3
Securities and investment advisory services offered solely through Ameritas Investment Corp. (AIC). Member FINRA/SIPC. AIC and The Business Benefits Group / IFG are not affiliated. Additional products and services may be available through The Business Benefits Group / IFG that are not offered through AIC. Securities products are limited to residents of Virginia. This is not an offer of securities in any jurisdiction, nor is it specifically directed to a resident of any jurisdiction. As with any security, request a prospectus from your Registered Representative. Read it carefully before you invest or send money. A Representative from The Business Benefits Group / IFG will contact you to provide requested information. Representatives of AIC do not provide tax or legal advice. Please consult your tax advisor or attorney regarding your situation.

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Of course, there is nothing stopping consumers from utilizing all of these resources — other than the time it takes to conduct research and compare policies. Regardless of which route you take, it is always worthwhile to check with organizations such as AAA or the Better Business Bureau, as well as your personal network for referrals, recommendations and reviews, to find the insurance professional that is right for you.
As with most good insurance companies, you can get a quote from State Farm online. But State Farm’s process involves extra-detailed questions about the construction of your home, down to the percentage of carpet-covered floors and the number of corners in your home’s framing. We recommend arming yourself with floor plans, your insurance history, a home inventory, and specific details of your home’s construction so there won’t be any surprises when it's time to sign a policy contract. The upside is that all of these details provide you with an accurate quote and an exceptionally well-fitted policy.
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Coverage that suits you. Comprehensive and collision coverage is just the beginning. Our policies also give you the flexibility to dial up (or down) your peace of mind. Choose from new car replacement2, special parts replacement3, enhanced rental car damage coverage4, and more. And because there’s only one you, receive identity theft protection5 at no extra cost.
The 14 providers listed below all met our initial criteria for the best homeowners insurance companies. They’re available in 40 states or more, received outstanding financial scores from A.M. Best, Moody’s, and S&P Global, and earned customer satisfaction scores of at least three out of five from J.D. Power and 80 from Consumer Reports. In short: They’re reliable companies that would do right by your homeowners insurance policy.

†One Day PaySM is available for certain individual claims submitted online through the Aflac SmartClaim® process. Claims may be eligible for One Day Pay processing if submitted online through Aflac SmartClaim®, including all required documentation, by 3 p.m. ET. Documentation requirements vary by type of claim; please review requirements for your claim(s) carefully. Aflac SmartClaim® is available for claims on most individual Accident, Cancer, Hospital, Specified Health, and Intensive Care policies. Processing time is based on business days after all required documentation needed to render a decision is received and no further validation and/or research is required. Individual Company Statistic, 2018.
Those who buy life insurance do so to help ensure their loved ones are taken care of financially. Life insurance is a promise by an insurance company to pay those who depend on you a sum of money upon your death. In return, you make periodic payments called premiums. Premiums can be based on factors such as age, gender, medical history and the dollar amount of the life insurance you purchase.
ProtectorPLUS Zero Deductible Benefit – Waives homeowners insurance deductible (up to $5,000) if your home is severely damaged by a qualifying loss of $27,500 or more. For example, if your home is struck by lightning and there is massive electrical and structural damage that exceeds $27,500. Without ProtectorPLUS Zero Deductible Benefit, you would only receive payment for the loss that exceeds your deductible.3
We required a strong financial outlook for all our top picks, but State Farm stood out for receiving the highest possible ratings from A.M. Best (A++), as well as top scores from S&P (AA) and Moody’s (Aa1). These high scores are an indication and assurance that the company is able to pay out its claims, even in disaster circumstances where many customers are filing claims.
Medicare Brokers like Boomer Benefits also often provide simple and easy education to you about how Medicare works. Every year, thousands of Medicare beneficiaries feel frustrated after trying to read the Medicare handbook. At Boomer Benefits, we will educate you by breaking Medicare down into pieces that are easier to understand. This is why we are so well known as the baby boomer’s favorite insurance agency.
An insurance carrier, also called an insurance provider or an insurance company, is the financial resource behind the coverage provided in an insurance policy.  It is the issuer of the policy and the one who charges the premium and pays for losses and claims covered under the policy. In return for charging a certain premium, the insurance company promises to pay the insured for certain financial losses due to various covered claims’ scenarios.  Some insurance carriers also provide loss control services to help nonprofits avoid claims.  Nevertheless, the distinct difference between a broker and an insurance carrier is that the insurance company bears the financial risk while the broker provides advice.

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The Nonprofits Insurance Alliance Group is an example of an insurance carrier. We financially protect our member-insureds against losses and pay claims when losses occur. We are a 501(c)(3) cooperative insurer, owned and governed by the nonprofits we insure, but we work through brokers to market our policies.  We do this because we believe that nonprofits benefit from the expertise of a broker who works for them to make sure they have the right coverage for their risks.
A homeowners insurance policy usually covers four incidents on the insured property – interior damage, exterior damage, loss or damage of personal assets/belongings, and injury that arises while on the property. When a claim is made on any of these incidents, the homeowner will be required to pay a deductible, which in effect is the out-of-pocket costs for the insured. For example, a claim is made to an insurer on an interior water damage that occurred in a home. The cost to bring the property back to livable conditions is estimated by a claims adjuster to be $10,000. If the claim is approved, the homeowner is informed of the amount of his or her deductible, say $4,000, according to the policy agreement entered into. The insurance company will issue a payment of the excess cost, in this case $6,000. The higher the deductible on an insurance contract, the lower the monthly or annual premium on a homeowners insurance policy.
While you won’t be able to pinpoint the amount you’ll need to the penny, you can make a sound estimate.  Your goal should be to develop a life insurance plan that, following your death, will allow your family to live comfortably without your economic contribution. Also consider the effect of inflation over time. The amount needed for retirement or college 20 years from now is likely to be significantly higher than today.
Agents and brokers both earn the bulk of their income through commissions earned on the sales they make. An agent working for one company can enjoy the stability that comes from having one compensation plan. A broker who works with a number of insurance companies can experience income variances, depending on which company's products she sells. However, brokers have the flexibility to write business through the companies that offer the highest commission rates, assuming they provide the products that meet their clients' needs.
Deciding whether to purchase whole life or term life insurance is a personal decision that should be based on the financial needs of your beneficiaries as well as your financial goals. Life insurance can be a very flexible and powerful financial vehicle that can meet multiple financial objectives, from providing financial security to building financial assets and leaving a legacy.

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Umbrella policies offer extra liability coverage on top of what's already covered by your standard homeowners insurance or car insurance policy. Umbrella coverage starts at $1 million. Our agents generally recommend an umbrella policy to people who have more than $500,000 in assets since that's typically where your standard homeowners policy will cap coverage. But you should also consider umbrella coverage if you're at risk of multiple lawsuits, like if you have a few teen drivers in the house or you own multiple properties, especially rentals. You can learn more about umbrella insurance here.
Only eight companies out of the 14 below made our top picks list. Those listed as “best for…” each stood out to us in a certain area, whether it was a unique coverage option, stellar customer service, or an easy shopping process. That said, the other half may have options that interest you. (For instance: If you have an auto insurance policy with one of these companies, you might want to consider bundling discounts.)
An insurance broker is experienced in different types of insurance and risk management. They help individuals and companies procure insurance for themselves, their homes, their businesses or their families. Brokers may focus on one particular type of insurance or industry, or they could provide advice on many different types of insurance. They provide a service to their customers in helping them find and buy insurance — usually at no cost to their client.
Although insurance brokers work for their clients, they aren’t paid by them. Instead, they make commissions based on their sales. The commission is a percentage of the premium cost and varies by state law. It usually is between two and eight percent of the premium. If you work with a broker to buy homeowners, automobile, health, business, life or any other type of insurance, you will not pay them a fee for the services they provide.

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