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!

Why a home inventory is important

Owning a home in Phoenix, AZ is exciting. Many people move to the warm climate to retire but Phoenix also has a young and vibrant population with an average age of 34. Having the right home insurance makes your life a lot less stressful and the staff at Genesis Insurance is there to make sure that you have a friendly agent who you can trust to have your best interests in mind when recommending insurance products.

Even in a great place like Phoenix, AZ bad things can happen. When something bad happens to your home you will file a claim with your insurance carrier. Sound like fun? Probably not. But you can make it easier and quicker by taking the time to create a home inventory now and place it in a safe place where it will not be destroyed by whatever bad thing happened to your home. 

An inventory is exactly what it sounds like. It is a record of all the things that you possess. People tend to accumulate lots of personal items. much more than they realize. Trying to remember them without an inventory can be very difficult especially at a stressful time like an insurance loss. Your home inventory and any backup information such as receipts and invoices will help make your claim much easier to collect on and quicker as well. You can just make a list of the items in each room and then take pictures to show the items as they were before the damage. 

When you are ready to change carriers,  insurance agencies or would like to have an expert eye look over your current policy, the team at Genesis Insurance in Phoenix, AZ is there to give you the kind of service you deserve. Give them a call or stop by the office for a no-obligation quote. 

3 Tips for Phoenix Business Owners When Choosing Commercial Insurance

Phoenix, AZ is a fantastic city to start up a business. The vibes there are perfect for owners who can’t wait to show off what they do best. But part of running a successful enterprise is having the right commercial insurance to keep yourself afloat if something goes wrong. Genesis Insurance is here to provide you with some tips, so you can get off on the right foot. 

Think About the Consequences 

What happens if you need to close your building for three weeks for repairs? How will you handle a liability claim from a customer who claims injury from a product defect? Could you pay for your deductible during certain months? Commercial insurance can cover you from certain things, but you need to make sure that your policy goes beyond the bare minimum if you want real protection. 

Remain Flexible 

Your business may start small and climb to new heights, or you may decide to downsize when you’re ready to take on the next challenge. Your commercial insurance is as flexible as your business is, but you need to keep this in mind when you’re picking out your initial coverage. Make sure you’re hitting a smart balance based on both where your business is now and where you plan to take it. 

Talk to Someone Who Knows 

You can’t learn about commercial insurance just by skimming through your policy and looking for a few articles online. Genesis Insurance is here to boil down the most essential facts of commercial insurance so that you feel confident when you finalize your plan. Give us a call if you’re in Phoenix, AZ, and don’t want to take a chance on your livelihood. 

What should I look for in an Arizona auto insurance policy?

Anyone that is in the Phoenix, AZ area likely understands the need to own a car. Since you may need to have a car to get around town and complete life’s daily tasks, you need to make sure that it is properly covered by a quality auto insurance policy. When you are shopping for a new auto insurance policy, there are several things that you should look for to ensure you get great coverage. 

Liability Coverage

When you are looking for an auto insurance policy in Arizona, the first thing to look for is the amount of liability insurance that you will receive. All drivers in Arizona need to have an auto insurance policy with at least $15,000 in bodily injury coverage per person with a $30,000 per incident cap. You also need to have $15,000 in property damage liability coverage. While this is the minimum requirement, you may want to have more liability coverage.

Asset Coverage

As you are shopping for an auto insurance policy, you should also consider coverage for your asset. If you have a car that you would like to be able to repair or replace after a bad accident, you should get collision and comprehensive insurance coverage. This form of insurance coverage will provide you with coverage for your vehicle and is often required by any auto loan provider.

When you are ready to get a new auto insurance policy in the Phoenix, AZ area, you should call the team at Genesis Insurance. When you speak with Genesis Insurance, you can discuss your personal risks and needs. They can then help you to get into an auto insurance policy that will provide you with the coverage you need to comply with state law and adequately cover your vehicle. 

What does flood insurance cover?

Genesis Insurance Wants You to Know About Flood Insurance

Since damage due to flooding is not normally covered by your regular homeowner’s insurance policy, you may want to obtain one as heavy rains and monsoons can impact you in Arizona, causing damage to your property. Even if you have never experienced a flood in the past, the weather is unpredictable, so you will want to be covered, just in case.

The National Flood Insurance Program (NFIP) offers flood insurance, but it can be purchased through your insurance agent who handles the coverage of your home. The rates are set through the program and are determined by the date and type of your home’s construction along with the level of risk to your property depending on its location. You may pay a little more if your property is located near a body of water or a flood-prone area. Flood insurance policies are offered for not only homeowners but renters, business owners and renters, and the owners and renters of condominiums.

A flood insurance policy will cover your house or building and its foundation along with the electrical and plumbing systems at your Arizona home or business. It will also cover equipment, such as air conditioning, water heaters, and furnaces, as well as appliances, including your refrigerator, stove, and dishwasher. Other items covered include permanently installed carpeting that was installed over unfinished flooring.

The National Flood Insurance Program has a Community Rating System which is a voluntary program that assists communities in implementing floodplain management. If your community participates, you may be able to receive a break on the cost of your flood insurance premiums.

Your trusted agent at Genesis Insurance in Phoenix, AZ will have all the details to assist you in obtaining your flood insurance policy.

Life Insurance: Not Just for Families

Many people think of families with young children when they think of likely holders of life insurance. In fact, it makes sense for people from all walks of life to carry some type of life insurance. If you are in the greater Phoenix, AZ area and want to find out more about the options available, contact the team at Genesis Insurance today.

The Many Benefits of Life Insurance

Yes, life insurance is essential for families with young children but is also a smart tool for single people, couples with grown children, or families of any type. When you choose a universal life insurance policy, the value of your policy can grow over time. In many policies, you are able to access these funds during life which can make many of life’s major expenses a lot more manageable. 

When it comes to covering final expenses, the death benefit that life insurance provides is very helpful. When a policy owner passes away the policy is paid out almost immediately. This can make the period right after someone’s death a lot less stressful. Covering final expenses can include a number of immediate costs, and it takes time to settle an estate.

There are a number of different types of policies available. From term to variable and whole life policies, there is likely a policy available that serves your needs. You can also make it easier on your loved ones when it comes to taking care of your final expenses when you have a life insurance policy.

The team at Genesis Insurance is proud to serve the insurance needs of our friends and neighbors in the greater Phoenix, AZ area. If you want to learn more about the life insurance options that are available for you, call or stop by today!

3 Ways to Reduce How Much You Spend on Flood Insurance

While home insurance may seem like it will cover all the damage done to your home, flood damage is not included, and not having flood insurance can be disastrous. In some flood-prone areas, flood insurance is required, and homeowners may not be ready for that extra expense. Here are three ways that you can save on flood insurance.

When you first decide to get flood insurance, shop around, and make sure that you are getting the right coverage for your home and property. Talk to insurance agents who specialize in flood insurance and can give you the best advice on what will protect your home. Genesis Insurance is a top-notch Phoenix, AZ area agency with professionals who can help.

If you live in an area that is prone to flooding, elevate your living areas and appliances. This may seem like an added expense, but it will save you money. When you elevate your living areas and appliances outside of your home, it will keep the essential appliances away from water damage.

If you currently have a flood insurance plan, it might save you money to reevaluate your current plan. Keeping up with your payments and premiums is the best way to avoid higher premiums that will go up from lapsed payments. If you live in a lower-risk area, sometimes areas can be grandfathered in if the flood risk to the area changes over time. FEMA also offers grants to areas that take advantage of flood prevention methods, and this is worth looking into.

Genesis Insurance in the Phoenix, AZ region is ready to evaluate your home and can help you find the coverage you need in case of flood or water damage. Visit our website or call today.

 

3 Ways to Protect Your Car From Being Stolen

Car theft is a problem in many areas of the country, including Phoenix, AZ. The agents of Genesis Insurance understand the frustration clients feel when their car is stolen or broken into. The following three tips will help you keep your car safe and possibly prevent it from being stolen or damaged by vandals.

Park in an Illuminated Area

If you must park your car outside, always park in an area where street lights are nearby. Illuminated areas make it harder for a car thief to get into your car without being seen. It also ensures that your car can be seen by nearby surveillance cameras if someone does try to get into it.

Always Lock Your Car

Always lock your car. It also helps to make sure that nothing of value is visible from the outside. Newer cars have electronic locks that can be managed through an app or with a compatible key fob. When you lock your car, always take your keys with you. Never leave them where they are visible.

Set Your Car Alarm

Locking your car isn’t always enough. Set your car alarm for an added layer of protection. If your car doesn’t have an alarm, you can have one installed for an affordable price.

If you live in Phoenix, AZ and want information about how to protect your vehicle from theft, call and speak to a reputable agent from Genesis Insurance. When you need answers, you have to go to the agency that has them. Each of the agents is highly trained and knowledgeable about vehicle safety and can assist you in protecting your vehicle. 

 

3 Life Insurance Features to Look For in Your Policy

Life insurance is a great way to protect your family while also growing your financial portfolio. If you are interested in this type of life insurance policy, it is important to speak with a qualified agent who has the training and certifications necessary when dealing with these products. Genesis Insurance, serving the greater Phoenix, AZ area and parts of Texas, is here to help you determine which type of life insurance policy is right for your needs.

3 Features to Look for in a Life Insurance Policy

  1. Living benefit – there are certain policies that allow you to access your money while living. These are beneficial for anyone looking for a way to fund significant life expenses such as college tuition, weddings, or helping their children with a down payment for a first home.
  2. Growth potential – life insurance can be an important part of a financial portfolio and can provide the opportunity for growth potential. These policies are considered financial instruments, and only qualified agents can offer them to their clients. 
  3. Preferential tax treatment – our tax code can be confusing and stressful, and many people look for straightforward and legal ways to streamline their tax burden. There are a number of different policies that are good tax vehicles because they delay income tax payment until withdrawal or can grow tax-free. These policies do not provide any guarantees about the level of growth or tax savings and should be considered as one part of a financial plan.

Residents in the greater Phoenix, AZ area can rely on the skill and expertise that the Genesis Insurance team possesses. If you are seeking a life insurance policy that offers more than just a death benefit, call us today and learn more about the available options. 

Does Commercial Insurance Cover Business Vehicles?

As a business owner, you have a lot on your plate. When it comes to insurance, you want to be sure your business is protected. When you begin looking into commercial insurance policies in Phoenix, AZ, you will quickly discover there are more than a few options to choose from. This can make the entire process of getting the right policy complicated and confusing. 

But don’t worry. At Genesis Insurance, we are here to help. 

Getting the Right Coverage 

One of the most common questions our customers ask us about business insurance is whether their business policy will provide coverage for their business vehicles. This is a good question, and the short answer to this is yes. 

However, there are some caveats. For example, you have to get the right policy. If you aren’t working with a reputable insurance agent, this may be more challenging than you think. Some agents won’t even ask you if this is the coverage you need. This leaves you with a subpar policy that doesn’t protect all your business assets. 

Work with Us for the Best Results

If you’re in the market for business insurance in Phoenix, AZ, getting the right policy for the right price is essential. Make sure to keep the information here in mind and contact us when you are ready to buy. 

At Genesis Insurance, our goal is to provide our customers with the protection they want and need for a price they can afford. Contact us today to discuss your commercial insurance needs. We are always happy to help and answer any questions you may have.