The Insurance House

2801 E Broadway,
Tucson, AZ 85716

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What Happens If My Boat Is Damaged on the Road?

Summers in Tucson, AZ, practically demand that you spend time in the water, and if you’re a boat person, that’s even better. While you’re looking into boating options, you will probably have questions about coverage. One thing that we get at The Insurance House pretty often is what happens when a boat is damaged while being towed to the lake.

Auto Policy

Before we get into specifics, remember that every policy is different. Always check the details in your own policy before assuming any coverage.

With that said, in most cases, your auto policy will cover liability related to towing, even when you are towing a boat. So, if the boat causes damage or injury while you are towing it, your auto liability coverage still works.

Let’s be extra clear. The auto policy no longer covers the boat as soon as it is detached from your vehicle.

Another extremely important note is that an auto policy usually does not cover damage to your boat while you are towing it, even with comprehensive coverage.

Boat Policy

If you want coverage for the boat itself, that has to come from your boat insurance. Remember, there are many different kinds of boats and many different boat insurance policies.

You will want to specify that you tow your boat and that it needs coverage while on the road. The good news is that such coverage does exist and is rather common.

As long as you have such coverage, boat claims will pay out like any other policy. Submit the claim, and the insurance company will go through the red tape process. Then, you will get a payout. It will either help you fix or replace the boat.

The amount paid depends on the policy and the circumstances, but that is the gist of how boat coverage works while you are towing.

If you want to learn more about policies to ensure your boat’s protection, contact your representative at The Insurance House. We serve people throughout the Tucson, AZ, metro area.

Myths and Facts About Flood Insurance

The purpose and value of flood insurance are well known. However, there are still misconceptions about flood insurance. It’s common knowledge that property owners in a flood zone must purchase flood insurance to protect their property. If you live in the Tucson, AZ, area, we encourage you to bring your flood insurance questions to our agents at The Insurance House. We’ve been providing area residents with exceptional customer service since 1963. We love an opportunity to discuss your insurance needs and help you discover how best to protect your assets. 

Flood Insurance Myths and Facts

Some believe property owners in high-risk flood areas cannot buy flood insurance.  However, the NFIP (National Flood Insurance Program), founded in 1968, states that properties in high-risk areas are mandated to buy flood insurance. However, it may have a higher premium than insurance for property that isn’t in such an area. Another misconception is that people aren’t allowed to buy insurance if their property has previously been flooded. However, you can purchase flood insurance if your community participates in NFIP. 

You might be worried about flood insurance coverage for your basement. However, the NFIP allows the sale of flood insurance with basement coverage for cleanup expenses and for appliances that service the basement area. You should remember that if your basement has been refinished, the flood insurance won’t cover the replacement costs of the refinished walls or renovated floors.

Call Us Today for an Appointment 

If you live in a flood zone, don’t leave your property’s protection up to chance. If you live near Tucson, AZ, you are invited to contact our agents at the Insurance House to discuss your property needs. Call us today for an appointment, and let us show you how we can provide your ideal insurance solutions. 

How Term Life Insurance Works

Why is Life Insurance Important?

Life insurance serves as a crucial safety net that should always be an integral part of financial planning. At The Insurance House in Tucson, AZ, we can assist you in navigating the various policies that align with your unique needs.

Understanding Term Life Insurance

Term life insurance gets its name from its characteristic of covering a specific time period or ‘term.’ During this stipulated term, if the policyholder passes away, the insurance company pays the agreed-upon amount to the beneficiaries. But it’s important to remember that this policy type expires at the end of the term. The appeal of term insurance lies in its affordability and the financial security it provides during the policy period.

The Benefit of Reduced Cost

Compared to whole life insurance, term life insurance is significantly less expensive, making it an enticing choice for many. While it doesn’t inheritably build cash value like a whole life policy, economical pricing balances it out as it tends to align better with limited budgets.

How is it Different From Whole Life Insurance?

Unlike term life insurance, a whole life insurance policy garners a cash value, which the policyholder can borrow against if necessary. While term life offers protection during the allotted term, whole life insurance assures coverage throughout the policyholder’s lifetime. However, this extra benefit translates into a higher overall cost.

Obtaining Your Life Insurance Policy

Life insurance is a credible means of safeguarding your family’s financial future. Connect with us at The Insurance House in Tucson, AZ, to explore the right policy for you.

What is the benefit of having a bond insurance plan in Arizona?

Starting your own business and being a professional in the Tucson, AZ area is a dream for many people. When you start your own professional business or practice, having the right insurance is very important. One type of coverage all people here need to have is bond insurance. The many benefits of bond insurance make it an excellent option to obtain.

Protect Financial Losses

Bonds insurance, often referred to as a surety bond, is a type of insurance that you can provide to reassure a customer that you will be able to finish a job. The customer could file a claim if you fail to fulfill your obligations. A bond insurance plan offers support for settling these claims, which can save you a lot of time and stress.

Improved Reputation

Having bond insurance is also important as it can improve your reputation. Today, when many people are looking to hire a professional contractor or other individual, they will ensure that everyone is licensed, insured, and bonded. Not having bond insurance could hurt your reputation and affect your ability to win business. At the same time, having bond insurance is often a requirement to work in certain areas. The proper coverage will also keep you in good regulatory standing.

Bond insurance is a very important type of coverage that everyone in the Tucson, AZ, area should get for their business. When you are ready to start looking for this insurance, you can begin the process by calling us at The Insurance House. Our team at The Insurance House will provide the support you need to create and build a new plan for your company.

What New Home Owners Should Know About Umbrella Insurance

Umbrella Insurance: Enhancing Your Homeowner’s Insurance Coverage

Homeowner’s insurance policies can cover many different things. However, it’s wise to thoroughly review each policy to spot any potential gaps or limitations. If there are aspects that raise concern, an umbrella insurance plan might be the solution you need to increase your coverage. For more information on umbrella insurance, please feel free to contact The Insurance House, serving Tucson, AZ.

Key Points to Know About Umbrella Insurance

In most cases, umbrella insurance is optional. While some forms of insurance, like auto insurance, are often mandatory, umbrella insurance is usually flexible. Nonetheless, it’s frequently advisable to secure umbrella coverage to mitigate risks. Most often, umbrella insurance plans can expand coverage for home, auto, boat, and RV insurance.

Umbrella insurance policies can often be customized to cover specific concerns. For instance, civil lawsuits are increasingly common in recent years. As a property owner, you might find yourself liable for the medical bills of individuals who were injured on your property. An umbrella policy can potentially offer protection against such legal cases. However, reviewing each insurance plan is crucial to understand what’s included and what’s not.

Compared to their vast coverage, umbrella insurance plans are often charged affordably. It’s smart to evaluate each plan in detail to determine how much protection it offers for you and your family. For further information about umbrella insurance or help in selecting coverage, don’t hesitate to contact The Insurance House, serving Tucson, AZ.

Auto insurance add-ons to consider

Everyone is pretty much aware of the three main types of coverage included in a traditional full-coverage auto policy. This is a liability, which is mandated, collision, and comprehensive. Our team of independent insurance agents at The Insurance House in Tucson, AZ ensures that all of our customers get a personalized auto insurance policy that includes any add-ons that make it the right one for you. 

Gap Coverage

If you have a newer vehicle and an auto loan, you might find that you owe more than the insurance will pay for the vehicle if you have an accident. Having gap coverage will help to fill in the gap between what you owe and what you get. 

Full glass coverage

Your comprehensive coverage usually includes glass coverage. But, you will need to pay the deductible, which can be $500. With full glass coverage, you don’t have to pay the deductible. It makes it much easier to go ahead and get it repaired. 

Rental coverage

Rental coverage will provide you with a rental car if your auto is damaged and needs repair or is totaled after an accident you are responsible for or where there is no fault. No deductible is charged, and it can be a lifesaver. This is not coverage for a vacation rental. 

Roadside service coverage

When you think about the type of coverage you get from auto club coverage, this is very much the same thing but at a more affordable price. It can provide a tow if you have a breakdown, charge you if your car doesn’t start, and change a tire for you. 

When you are considering a change of carrier or agent and live in the general Tucson, AZ, area, our team at The Insurance House is here to help. Give us a call today. 

Year-Round Coverage: Extended and Off-Season Insurance Options for Boats

Boating enthusiasts are keenly aware that enjoying the water comes with a significant responsibility. Whether navigating serene lakes or cruising through rivers, the joy of being on a boat demands a commitment to safety and protection. Ensuring the security of your vessel year-round is crucial. This extends beyond the traditional boating season, requiring comprehensive coverage that shields against potential risks during the off-season or while your boat is in storage. Serving Tucson, AZ, and neighboring regions, The Insurance House recognizes that boat owners value reliable insurance choices. These options offer peace of mind for you and your boat.

Ensuring your boat’s safety is a paramount concern when responding to the allure of the waves. Extended coverage options offer a comprehensive shield for your vessel throughout the year. Tailored policies provide seamless protection, including coverage for accidental damage and unforeseen incidents during off-season pursuits. This encompasses liability coverage for unexpected events on the water and robust protection against physical damages, instilling confidence as you navigate various risks, regardless of the season.

Off-season protection is integral for safeguarding your boat during storage or winter months. Specialized insurance options are meticulously crafted to shield against theft, vandalism, or damages while your boat is docked or in storage. Recognizing the challenges of maintaining a boat during downtime, comprehensive coverage ensures protection against unforeseen circumstances.

Ready to set sail with confidence? Contact The Insurance House today to explore our comprehensive boat insurance options. Whether navigating rivers or relaxing on serene lakes in Tucson, AZ, and surrounding areas, we’re here to ensure your vessel is covered, providing you with the assurance to relish every moment on the water. Protect your investment—reach out to us, and let’s sail confidently.

Flood Preparedness for Tucson Residents: Insurance Insights

Many homeowners in Tucson, AZ purchase a home policy and assume they have all the coverage they need. Unfortunately, many policies don’t provide coverage for floods. This can leave homeowners with a considerable expense.

The good news is that our agents at The Insurance House can talk to you about flood insurance so that you never have to worry about the unthinkable happening to your home.

Focus on Flood Preparedness

It’s essential to do everything you can to prepare for a flood. While you may not think it will ever happen, you should familiarize yourself with the flood maps of Tucson. Determine what zone you are in so that you know the likelihood of ever experiencing a flood.

Flood maps change from year to year, too. That means you could be in one now even though you may not have been in a major flood zone when you bought your home.

Knowing that a flood is possible, you can do everything possible to prevent significant damage. Even if damage occurs, flood insurance can provide you with the coverage you need.

How to Get the Right Policy

There’s a lot that goes into building the right policy. You don’t have to guess what kind of coverage you need – our professional insurance agents at The Insurance House can help you every step of the way.

We’ll ask important questions, such as:

  • Where is your home located?
  • How much is your home worth?
  • What kind of deductible do you want?

Once we have the details, we can begin building a policy – and get you quotes from top insurance companies.

When you’re ready to start the flood preparedness process for your home, contact our office in Tuscon, AZ so that we can walk you through the various steps.

What do I need to think about when picking a life insurance plan?

Being adequately insured is essential for all people who are in the Tucson, AZ area. While you will want to have liability support and protection for your valuable assets, you also need to consider getting life insurance. With a proper life insurance plan, you can provide financial protection for your dependents and receive other benefits. There are various factors to consider when choosing a new life insurance policy. 

Level of Coverage

A primary factor to consider when looking for life insurance is the level of coverage. A direct benefit of life insurance is that you can build it to provide financial protection to your dependents. The amount of financial security you need will vary significantly from one individual to the next. It would be best to consider all financial factors, including expected future expenses for dependents, your other financial assets, and other considerations to determine the right level of coverage. 

Type of Plans

You also need to consider the type of life insurance to obtain. The most common form of life insurance is term life, which will offer coverage for a specific period. Whole-life coverage will support your whole life and offer other financial benefits, but the premiums tend to be higher. It is essential to evaluate all options. 

Choosing life insurance is always an important decision. If you are looking at a new plan in the Tucson, AZ area, it would be ideal to call our team with The Insurance House. At The Insurance House, we know how important this coverage is. We can also offer the help that you need to assess your personal needs and the various options. This can ensure you are considering all important factors and building the right plan.

Corporate Bond Insurance: Mitigating Risk in the Corporate Debt Market

The corporate bond market is vital to the global financial landscape, allowing companies to raise capital by issuing debt securities. Investors in and around the Tucson, AZ area, flock to this market for stable returns, but corporate bonds come with inherent risks like any investment. Bonds insurance is the answer. 

Critical Components of Corporate Bond Insurance

  • Issuer Default Risk: Bond insurance acts as a safeguard by ensuring that investors receive their scheduled payments even if the issuer defaults.
  • Credit Rating Enhancement: Corporate bond insurance enhances the credit rating of the bond, making it more attractive to investors. 
  • Secondary Market Liquidity: Insured bonds often have higher liquidity in the secondary market, making it easier for investors to buy and sell them. 
  • Risk Diversification: Investors can use corporate bond insurance to diversify their portfolios. 

Investor Benefits of Corporate Bond Insurance

  • Security: Bond insurance provides protection that appeals to risk-averse investors, ensuring they receive timely interest and principal payments.
  • Enhanced Returns: Higher credit ratings resulting from insurance can lead to improved bond prices and potentially higher returns.
  • Reduced Default Risk: Bond insurance mitigates the risk of issuer default, making corporate bonds a more attractive investment option.

Issuer Benefits of Corporate Bond Insurance

  • Lower Borrowing Costs: Insurance can lead to lower interest rates for issuers, as investors are more willing to purchase bonds with enhanced creditworthiness.
  • Access to Broader Investor Base: Bond insurance can expand the issuer’s investor base to include risk-averse investors who may not otherwise consider investing in their bonds.
  • Improved Market Perception: Insured bonds often have a more favorable market perception, enhancing the issuer’s reputation. 

The Insurance House Can Help You

At The Insurance House, we can help answer questions concerning bond insurance. We serve the Tucson, AZ area. Contact The Insurance House today. 

Our Partners

  • American Modern
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  • Markel
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