Does Your Auto Insurance Cover a Different Driver?

When it comes to having auto insurance, there are questions you’ll want to address. For example, letting someone else drive your car could be risky if your policy won’t cover them. At Genesis Insurance, we can help drivers in and around the Phoenix AZ area get the answers they’re looking for, so they can have the right insurance coverage for their needs. Our agents are here to help, and to make sure you’re covered properly. That coverage needs to be right for the way you use your vehicle, and should also help with your peace of mind. 

If you have an auto policy and someone else drives your car, they’re generally covered as an occasional driver. If they’re going to be using your car a lot, though, adding them to your policy as a driver could be the right choice. Then you know they’re covered, and you don’t have to worry about taking any risks with that. It’s also a good idea for someone who only drives your car occasionally to have coverage on their own vehicles, as that will typically protect them in the event that they use someone else’s car infrequently.

Don’t take chances as to whether you or other drivers of your car have proper coverage. Instead, reach out to us at Genesis Insurance agency today and let us help you get the auto insurance policy that meets your needs. If you’re in the Phoenix, AZ area, we can work with you to find the best type and level of coverage for your vehicle and driving habits. Then you won’t need to worry about whether another driver will be covered if they use your vehicle, and you can just get back to enjoying all the great things the Phoenix area has to offer.

Why Phoenix, AZ residents need to check flood maps frequently

Why Phoenix, AZ residents need to check flood maps frequently

Did you know that over 62,351 properties in Phoenix, AZ, are at risk of flooding? According to a 2020 report, Arizona has higher chances of getting flooded every year. For this reason, insurance experts at Genesis Insurance advise residents to check flood maps and buy flood insurance early enough to protect their homes and commercial properties from flood damage. So, why check maps now and then? Here are a few eye-opening reasons.

Flood maps track changes

Flood risk changes over time. It could be the change of flow and drain due to community development, natural forces, or land use. These changes affect how water drains, which in turn affects the risk of floods on your property. The changes also reflect on your flood insurance policy and also affects your rates. For instance, if your Phoenix AZ policy reads that your home is in a low-risk area at the date of purchase, five years down the line, it could be reading your home is in a moderate or high-risk area depending on the changes.

High flood risk areas are likely to get worse.

If your property were marked to be in a high-risk flood area, you would likely be hit by floods every time they occur. If they used to affect your home before, the level of damage might get worse. Human activities such as cutting down trees and clearing forests and other natural habitats for road construction can easily worsen your situation. Checking the flood maps helps you determine the level of risk and act accordingly.

Maps help you to prepare

Remember, flood insurance matures after 30 days from the date of purchase. If you checked your map and discovered that you moved from moderate flood risk to high risk, you may want to buy flood insurance early enough or increase your coverage limits if you already have a policy.

Please don’t wait till it’s too late to buy flood insurance. Genesis Insurance will be happy to help you get an accurate picture of your property’s flood risk so you can prepare. Contact us for a deal.

Why should I get life insurance?

People that live in the Phoenix, AZ area need to make sure that they get proper personal insurance in place. When you are considering all of your insurance needs, an important type of coverage that you may need to get is life insurance. There are a few different reasons that you should get a new life insurance policy when you are in this area.

Life Insurance Protects Dependents

The primary advantage of getting life insurance is that it can protect your dependents. Those that have people that rely on their income will want to know that they are cared for in the future. When you get life insurance, it will provide the financial protection that they need to continue living the same lifestyle. When building a new life insurance plan, you should consider all of the future costs that your dependents could have, which can include costs of living, higher education expenses, or future retirement costs. 

Life Insurance Offers Investment Benefits

You should also get life insurance because it can provide you with investment benefits. A common form of insurance that people can get is whole life coverage. When you invest in whole life insurance, some of your monthly payments will go into an account that you could liquidate in the future. This account will grow with interest and can be a good addition to your investment plan.

People that are in the Phoenix, AZ area and are looking for life insurance should speak with the team at Genesis Insurance. If you do call Genesis Insurance, you will get to learn a lot about your different options when it comes to life insurance. They can then help you build a policy that will offer you the best coverage possible to meet your personal needs. 

Is Flood Insurance Covered Under My Home Insurance Policy?

No. Your standard home insurance policy does not protect you in the event of a flood. This is a separate policy you need to purchase. To help you do that, reach out to a reputable insurance agent for help. But first, read on to learn more about flood insurance in Phoenix, AZ.

Do I Need Flood Insurance?

Yes. You need flood insurance if you live in a flood zone or even inland as flooding can occur anywhere. For example, heavy rains or abundant snowmelt could cause flooding on your property. Flooding can also be causes gradually, such as from a crack in your foundation. 

I Rent So Do I Need Flood Insurance?

Yes. As a renter, you need to insure the inside of your condo or apartment. If you live in a flood area and your rental property is flooded, the items ruined will not be covered unless you have flood insurance. Flooding can also occur outside of flood zones. Some of the items covered by flood insurance include:

  • Plumbing Systems
  • Furnaces
  • Water Heaters
  • Central Air Conditioning
  • Sump Pumps
  • Heat Pumps
  • Kitchen Appliances
  • Carpeting
  • Window Treatments
  • Foundation Walls
  • Anchorage Systems
  • Detached Garage
  • Personal Property like Clothing

When Should I Buy A Flood Insurance Policy? 

Now. Don’t wait for flooding season to get your policy in Phoenix, AZ. There is a 30 day waiting period for your policy to take effect so do this well in advance. 

To learn more about purchasing flood insurance, contact the team at Genesis Insurance. Our reputable, friendly agents will answer all your questions about flood insurance and help you find the right policy. 

3 Tips for a More Comprehensive Auto Insurance Policy

A better auto insurance policy starts with tackling all of the things that might go wrong both on and off the road in Phoenix, AZ. From injuries to theft to property damage, there are a lot of different topics to cover. It’s no wonder that people don’t want to think about it, but it really does pay to know as much as you can. Genesis Insurance has a few tips so you can have a clearer picture of what you’re signing up for. 

1. Start Asking Questions

It’s really the questions that help you become more aware of what your policy covers, and in this case, it helps to be more detailed than less. So what happens if you hit another car and their dog is injured because of it? Are you liable for the vet bills? What happens if you change jobs and your car is stolen from the parking lot? Is this covered if you never updated your policy? 

2. Err on More Communication 

Whether you decide to start driving for Uber or you install a new stereo system, you should really be calling your insurance company to let them know. This kind of communication ensures fewer surprises later on. In some cases, your policy might not change, but you should at least take the precaution. 

3. Find the Right Carrier 

A good carrier will help you go through your auto insurance policy and start teasing out what needs to change about it. If you live in Phoenix, AZ and want to get a policy with better coverage, call Genesis Insurance. We’re here to help you find the terms that are most relevant to you, so you have everything you need in case anything happens.

How much life insurance is enough?

Life insurance is something that you do for others, not for yourself. It protects your loved ones if you aren’t there to support them. It isn’t a one size fits all kind of insurance, each case is individual. Beyond that, it doesn’t stay the same but rather changes as your responsibilities change. It grows at some points and shrinks at others. At Genesis Insurance in Phoenix, AZ, we are independent agents which means we work for you, not one insurance carrier. We can offer you more choices when it comes to life insurance needs. 

Determining how much life insurance is enough requires considering several different scenarios. You need to consider who is dependent on you. Do you have a spouse or partner? Do you have children? The age of your children is a consideration. If you have young children and you passed away while they were still young, you would need to provide for them for quite a few years. How much support will you be providing? All their support, half of their support? All of these figure into the final amount of life insurance that is enough. 

Do you have debt? Do you have a mortgage? How many years of mortgage payments would you need to provide or do you want to pay off the entire amount? Do you have a car payment? Credit card balances? Do you want to pay for your children’s college education? Experts recommend that you have seven to ten years of your income in life insurance. 

That is all well and good if you are married with dependents. What if your children are all grown and you are alone with your spouse or partner? You probably don’t need anywhere near that amount of life insurance. 

Having an insurance agent that you trust is what you need to help you determine how much life insurance is enough at every point in your life. Call Genesis Insurance in Phoenix, AZ for a free quote and to make an appointment to it down and look at the amount of coverage that you have. 

AZ Commercial Insurance Requirements

For business owners in Arizona, insurance is a key method for safeguarding and protecting the investment you’ve made in your business, people, and assets. Specific to Arizona, there are several types of insurance coverage that are mandatory with many more that are optional. First, Arizona law requires that any business that has at least one employee – regardless of whether they are full-time or part-time – must carry workers’ compensation insurance. In short, workers’ compensation insurance helps protect the business from financial loss while also providing key benefits to your employees by paying for their medical bills or time missed at work because of a workplace injury or illness. Second, any vehicles that are specifically owned by the business must have a commercial auto insurance policy. Although it’s not a requirement, businesses that require their employees to use their personal vehicles while on the clock should strongly consider hired and non-owned auto insurance because many personal auto policies will not cover incidents that occur during business use. 

While businesses are only mandated to have the minimum coverage required by Arizona, factors like the number of employees, the type of work being done and the value of the business lead many companies to increase their coverage amount to ensure any financial loss is kept to a minimum. 

When it comes to finding the right insurance policy, it is important to understand every insurance complexity. Consequently, working with one of the professionals at Genesis Insurance in Phoenix, AZ allows our team to customize a commercial insurance policy that covers all of your needs. Give us a call today to schedule your no-obligation and complimentary consultation.

What type of auto insurance do I need to carry in Arizona?

Most states require all drivers to carry auto insurance. However, the requirements for coverage often vary from state to state.  Arizona drivers are required to carry at least the state’s minimum coverage, if not more.  Genesis Insurance of Phoenix, AZ is dedicated to helping Arizona drivers get the coverage they need.

Arizona State Minimums for Auto Insurance

The state laws of Arizona require that all drivers carry $25,000 in bodily injury liability coverage per person. Arizona requires drivers to carry $50,000 worth of coverage per accident. Drivers must also carry at least $15,000 in property damage liability coverage. These coverage amounts represent Arizona’s minimum requirements for auto insurance. Drivers can purchase more coverage if they need or want to. 

If You Have an Auto Loan…

Although Arizona has state minimums for auto coverage, like most states, drivers who have an auto loan may have to meet the insurance requirements for lenders as well. Typically. Lenders often require drivers who have an auto loan to purchase a full comprehensive automobile policy. A fully comprehensive insurance policy ensures that lenders are compensated if anything happens to the car before its paid for. A full auto insurance policy includes liability, comprehensive, and collision coverage.  All three of these coverages are included in full coverage auto insurance. Genesis Insurance of Phoenix, AZ is dedicated to helping Arizona drivers meet Arizonas state requirements f auto insurance and get the auto insurance coverage they need based on their unique situations. We are standing by to answer any questions you may have and to help you invest in the type of coverage that will meet Arizona’s minimum requirements as well as any other coverage needs you may have. 

3 Reasons to Purchase Flood Insurance

Arizona homeowners face their share of natural disasters, ranging from wildfires to dust storms, lightning strikes, tornadoes and flash flooding. Home insurance helps to protect your property against many of these disasters. For protection against floods, however, you’ll need flood insurance. Here’s why you should purchase a flood policy from Genesis Insurance for your Phoenix AZ home.

Home Insurance Doesn’t Cover Flooding

Arizona is no stranger to flash flooding due to severe rainstorms during monsoon season. Unfortunately, home insurance doesn’t cover damage caused by flooding. Without flood coverage, you risk losing your home and belongings to an unforeseen flood disaster. It doesn’t take much water to ruin a home or destroy its contents. Unless you have the financial means to recover from a flood, you’d do well to protect your home with flood insurance.

Floods Can Occur Anywhere

You don’t have to live in a flood zone to suffer from flooding. Floods can occur anywhere, as evidenced by recent flood events all over the country. By purchasing flood insurance, you can take precautions against losing everything you own to a flood disaster. It’s better to be safe than sorry when it comes to protecting your valuables against flooding.

Flood Coverage is Doable

If you live outside a flood zone, you can purchase flood coverage at an affordable cost, making it a valuable asset in protecting your property. You can purchase coverage for just your home, just your belongings or both. Flood insurance can protect your home structure for up to $250,000 and your contents for $100,000, giving you ample financial support to recover from a flood disaster. You can have peace knowing you have protection from the dangers of flooding.  

To learn more about flood insurance or to purchase a policy for your Phoenix, AZ home, contact us at Genesis Insurance.

How Your Life Insurance Needs Change as Your Family Grows Older

Young families are quick to get life insurance to protect their children from the early demise of a parent, but what happens are your family grows older? The team at Genesis Insurance is here to help the greater Phoenix, AZ community to manage all of their insurance needs, including life insurance. There are many advantages to life insurance that will help to protect your family long after your children are grown.

Long-Term Benefits of Life Insurance

As your family grows older your insurance needs change. In addition to the death benefit that such policies provide, there are many features that can serve you during your life. If you opt for a policy type like whole life, universal, or variable, you may be able to access the cash value of the policy while still alive. Term life policies, on the other hand, typically only provide a death benefit. While not as flexible as other types of life insurance policies, a term policy may be right for you and your family. These different types of insurance have many unique benefits, and it makes sense to sit down with your local agent to determine which type is best for you and your family. 

A robust life insurance policy that contains an accessible cash benefit can help your family with major expenses. For example, college tuition and down payment expenses can be defrayed with such policy types. If you want to provide financial stability for your family both alive and after you have died, life insurance can be an effective way to reach that goal.

Want to find out more? Call or stop by Genesis Insurance if you are a resident in the Phoenix, AZ metro area. We look forward to serving you!