Blog Archives - Arthur Blake Insurance

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What You Need to Know Before You Buy Universal Life Insurance

December 23, 2024 Blog 0 0

When it comes to protecting your family’s financial future, life insurance is often a top priority. But with so many options out there, how do you choose the right one? Universal Life Insurance (ULI) is a flexible, long-term solution that combines financial security with savings potential. Let’s dive into what makes universal life insurance stand out and whether it’s the right fit for your needs. Here’s the basic idea: part of your premium covers the cost of insurance (like a term life policy), while the other part goes into a cash value account. This cash value grows over time, typically at an interest rate determined by the insurer. The Appeal of Universal Life Insurance It is designed for those who value flexibility and want more control over their insurance. Here’s why many people find it appealing: Adjustable Premiums Life is unpredictable. With universal life insurance, you can increase or decrease your premium payments (within certain limits) to match your budget. If you’re in a tight spot, you might even be able to use the cash value to cover your premiums temporarily. Lifetime Coverage Unlike term life insurance, which expires after a set period, universal life insurance offers coverage for your... Read more

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As a Homeowner: What To Watch Out For

November 25, 2024 Blog 0 0

Home insurance is designed to protect you from financial loss due to unexpected events. While you hope never to file a claim, understanding the most common home insurance claims can help you take preventive measures and ensure you have adequate coverage. In this article, we’ll explore the top reasons homeowners file claims and what you can do to minimize the risks. 1. Water Damage and Freezing One of the most frequent claims made on home insurance policies is due to water damage. Whether from burst pipes, leaky roofs, or appliance malfunctions, water can cause significant damage to your home. In colder climates, freezing pipes are a particular concern. When temperatures drop, pipes can freeze and burst, leading to costly repairs. Prevention Tip: Insulate pipes in colder areas of your home and inspect your roof for leaks or damage regularly. Installing a smart water leak detector can also help you catch leaks early, preventing more extensive damage. 2. Wind and Hail Damage Severe weather, especially wind and hail, is a leading cause of home insurance claims. These storms can wreak havoc on roofs, windows, and siding, leaving your home vulnerable to additional damage. After a storm, homeowners often discover missing shingles,... Read more

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Important Insurance Terms For Your Benefit

October 28, 2024 Blog 0 0

Insurance plays a significant role in protecting your financial health, but navigating the world of insurance policies can feel like learning a new language. Understanding key insurance terms is essential if you want to make informed decisions, avoid costly mistakes, and ensure you’re adequately covered. Without knowledge of these terms, you could be overpaying for services you don’t need or under-insuring important aspects of your life. Let’s dive into why it’s crucial to grasp these terms and the ones you should familiarize yourself with. Why It’s Important to Know Insurance Terms Avoid Misunderstandings and Financial Loss When you don’t understand the terms of your insurance policy, you risk making assumptions that could lead to unexpected financial burdens. For instance, you may think you’re covered for a specific event, only to find out that a clause or exclusion limits your coverage. Understanding insurance jargon helps you make sure you get the protection you expect. Maximize Your Coverage Comprehending insurance terms empowers you to make the most out of your policy. Knowing the difference between “premium” and “deductible” allows you to balance what you’re paying monthly with what you’ll owe if you file a claim. In addition, understanding “co-insurance” or “out-of-pocket maximums”... Read more

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Protecting Your Employees and Your Business

September 23, 2024 Blog 0 0

Understanding Workers’ Compensation Insurance: Workers’ compensation insurance, often referred to as workers’ comp, plays a vital role in protecting both your employees and your business. This insurance provides crucial support to employees who suffer work-related injuries or illnesses, ensuring they receive the medical care and financial assistance they need. Regardless of your industry, the risk of workplace injuries or illnesses exists, making workers’ comp an essential consideration for any business. Workers’ Compensation Insurance in Texas: What You Need to Know In Texas, private employers are not required to provide workers’ compensation insurance. However, choosing not to carry this insurance comes with responsibilities. You must report your coverage status and any work-related injuries or illnesses to the state’s Division of Workers’ Compensation. While opting out of workers’ comp might seem appealing, understanding the risks and liabilities involved is crucial. What Does Workers’ Compensation Cover? Workers’ compensation insurance is designed to cover a wide range of work-related injuries and illnesses. If an employee gets injured while performing their duties or working on your behalf, workers’ comp can help cover medical expenses, lost wages, and more. This coverage extends to injuries caused by work-related violence, terrorism, and even natural disasters. For example, if... Read more

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Craft Brewery Insurance

August 26, 2024 Blog 0 0

Craft brewery insurance is specifically tailored to meet the unique challenges and risks that craft breweries face. It actively safeguards breweries from financial losses by covering potential liabilities, accidents, equipment failures, and unexpected events. By providing this critical protection, brewery insurance ensures that these businesses can continue to thrive even in the face of unforeseen challenges. From the brewing process to distribution, every step involves risks that could disrupt operations or lead to significant financial setbacks. This insurance not only covers these potential pitfalls but also offers peace of mind, allowing brewery owners to focus on their craft without worrying about what could go wrong. Why Is Craft Brewery Insurance Necessary? Complex Operations: Craft breweries involve multiple processes, from brewing to packaging and distribution. Therefore, each step carries its own risks, such as equipment malfunctions, product contamination, or accidents during delivery. Insurance helps protect against these risks. Liability Issues: Breweries face potential liability from several sources, including customers, employees, and suppliers. For example, if a customer becomes ill after consuming a product or an injury occurs while an employee is on the job, the brewery could be held responsible. Liability insurance covers legal fees, settlements, and other related costs. How... Read more

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Understanding Auto Insurance Rate Increases

July 29, 2024 Blog 0 0

Insurance should be easy at this point, we live in the 21st century. But somehow car insurance hasn’t gotten any easier to understand. You drive safely, you avoid traffic violations, you choose a reliable car, and your premiums should stay where they are, or even go down. But, somehow, no matter your driving record you find that your premium continues to be on the rise. And you’re looking for answers as to why. Many factors go into why insurance premiums and how those will influence the costs. A lot of the time it is for things no driver can control. Your driving record will always affect the cost, but so does how many drivers are on the road, average road speeds and even the health of the economy may see you paying more at year’s end. Here are a few reasons that your auto insurance premiums may rise no matter what you do: A Strong Economy Means Busier Roads What’s good for the country overall may not be good for your insurance premiums. As the nation’s economy strengthens, more and more of those who previously relied on public transportation are choosing to take their own cars instead. Meanwhile, low gas... Read more

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All There is to Know About Business Insurance

June 24, 2024 Blog 0 0

Finding the right business insurance can be challenging due to the numerous options and coverage levels available. However, it’s crucial to protect your company’s assets in the event of an incident. The following types of insurance provide comprehensive coverage to safeguard your business: General Liability Insurance This type of insurance offers broad protection and is typically included in a Business Owner’s Policy (BOP). It shields your company from lawsuits and claims made by individuals outside of your business. Every business owner should consider adding general liability insurance to their BOP if it’s not already included. Commercial Property Insurance Also part of a Business Owner’s Policy, commercial property insurance covers damage or loss to physical property, such as business buildings or vehicles. For items at higher risk of damage, you can add additional coverage depending on your industry. Workers’ Compensation Insurance Commonly known as workers’ comp, this insurance protects you from lawsuits and claims resulting from employees’ work-related injuries. It’s an essential coverage for any business with employees. Business Identity Insurance Identity theft isn’t limited to individuals; businesses can fall victim too. With business identity insurance you will recover losses, repair your business credit profile, and restore your business reputation if... Read more

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5 Ways To Save Money on Homeowners Insurance

May 27, 2024 Blog 0 0

In a world full of rising costs, it is no surprise that you are looking for ways to save money anywhere you can. Homeowners insurance is an important thing to have to ensure your assets are protected, but like everything else it costs. We want to help you understand the importance of homeowners insurance while providing tips and tricks on how to save money on your premium. Follow along for 5 ways you can save today on your insurance and home insurance. What is Homeowners Insurance? When it comes to your home, home insurance companies are likely to cover losses and damages that occur to your home and the assets within. Depending on your coverage and monthly premium, homeowners insurance typically cover risks like fire, theft, vandalism, and certain natural disasters, but often exclude events like floods and earthquakes, which require separate policies. The specifics of coverage, exclusions, and limits can vary depending on the policy and insurer. Depending on your location and size of home, there are some ways that you, as a homeowner, could decrease your monthly premium. 1. Bundle, Bundle, Bundle There are many different types of insurance, some more necessary than others such as auto insurance,... Read more

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The Importance of Umbrella Insurance

April 29, 2024 Blog 0 0

In today’s unpredictable world, safeguarding your assets and protecting yourself against potential liabilities has become increasingly important. While standard insurance policies offer essential coverage, they may not always be sufficient to shield you from substantial financial losses in the event of a lawsuit or catastrophic incident. This is where umbrella insurance steps in, providing an extra layer of protection that can make all the difference. Read more to learn about why umbrella insurance is vital to your overall risk management strategy. What is Umbrella Insurance? First and foremost, let’s clarify what umbrella insurance entails. An umbrella policy is a type of liability insurance that supplements your existing primary insurance policies, such as auto, homeowners, or renters insurance. It offers additional coverage beyond the limits of your primary policies, thereby providing a broader and more comprehensive protection umbrella over your assets. Enhanced Protection Against Liabilities One of the key advantages of umbrella insurance is its ability to offer extended liability coverage. In today’s litigious society, lawsuits can arise from various scenarios, ranging from car accidents to accidents on your property or defamation claims. Without adequate coverage, you could find yourself facing significant financial repercussions, including legal fees, settlements, or judgments that... Read more

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Prices Rising For Car Insurance

March 25, 2024 Blog 0 0

Car insurance should be simple, right? You drive safe, you avoid traffic violations, you choose a reliable car, and your premiums should stay where they are, or even go down. That’s what the commercials from all the big name insurance companies like to say. Yet year after year, drivers with clean records still find their premiums going up, sometimes significantly. So what gives? Unfortunately, there are a number of factors influencing car insurance premiums which any one driver can’t control. While your personal driving record will always play a major role in what your pay, systemic factors such as how many drivers are on the road, average road speeds and even the health of the economy may see you paying more at year’s end. Here are a few reasons that your auto insurance premiums may rise no matter what you do: 1. A Strong Economy Means Busier Roads What’s good for the country overall may not be good for your insurance premiums. As the nation’s economy strengthens, more and more of those who previously relied on public transportation are choosing to take their own cars instead. Meanwhile, low gas prices sees even more drivers hitting the road and driving more... Read more