What Should You Know About Bonds Insurance?

Posted on September 30, 2021October 5, 2021 by admin

If you are a business owner, you have probably already purchased general liability insurance, workers’ compensation, cyber insurance, and all other types of commercial insurance that fit your business needs. However, have you ever heard or thought about bonds insurance? If not, The Insurance House serving clients in Tucson, AZ breaks down it for you.

What Is Bonds Insurance?

Bonds insurance is an agreement between three parties: the principal (the party buying the bond), the surety (the company that is writing the bond), and the obligee (the department requiring the bond). The purpose of bonds insurance is to provide financial stability or guarantee to the entity or company purchasing it.

How Does It Work?

It works just like any other type of insurance. If a business owner does not meet the requirements of a bond, a claim may be filed against the bond. This makes bonds insurance similar to a credit to the principal.

Types of Bonds

Different businesses need different types of bonds depending on their business purposes. The most common three types of bonds are the following:

Permit or license bonds. Certain businesses or individuals may need these bonds in order to be able to operate legally. They are auto dealers, freight brokers, contractors, and others.
Contractor bonds. This type of bond is for individuals or companies that are involved in public construction projects.
Court bonds. Certain courts may also require bonds.

The Insurance House – We Help You Get Insurance You Need

If you are a resident of Tucson, AZ or any other nearby town, and you want to know more about bonds insurance, The Insurance House will be glad to answer all your questions. Our mission is to help our clients find insurance that will protect them, their business, and their belongings. You can visit our website or give us a call for more information.

Pennsylvania Commercial Insurance: What You Need to Know About Cyber Protection

Posted on August 16, 2021August 1, 2021 by admin

When you are looking at your commercial insurance policy, one add-on or rider you may want to consider is cyber protection. In today’s world, cyber attacks are taking out businesses every single day in America. When a business is down for one minute, thousands of dollars could be lost.

At The Good Insurance Group LLC, we want Bloomsburg, PA business owners to know what is available to them when it comes to cyber protection. Your business needs it now more than ever.

Business Interruption Insurance

Business interruption insurance is precisely what it sounds like. In the event that your business is interrupted due to a cyber event, your cyber protection would cover the losses incurred during that interruption.

Identity Theft

Many policies for cybersecurity insurance offer add-ons or riders for identity theft. This coverage will help pay for the costs that your business will incur in order to recover your business identity in any way.

That will include any identification you need replaced, credit cards, business accounts, or loans and contract information.

Cyber Events and Data Breaches

A cyber event is a malicious attack on a system or network that is intentional. This can include business interruption damages, but you may also experience a number of damages that include data breaches, lost customers, and impaired systems.

Build Safeguards

An important part of qualifying for a cybersecurity insurance policy is having safeguards in place. You won’t be able to show damages if an attack happens if you don’t have the systems in place to protect yourself. Your insurance company wants you to show you are responsible and taking measures to avoid a cyberattack in the first place.

Get those measures in place as you seek a cyber protection policy.

Get a Quote

At The Good Insurance Group LLC, we want Bloomsburg, PA business owners to be protected with cybersecurity protection. Call us today for a quote to review or update your existing commercial insurance policy.

Umbrella Insurance and Your Business Liabilities in Arizona

Posted on August 16, 2021August 1, 2021 by admin

Umbrella insurance is a coverage that anybody can get to help protect them from financial liabilities in the event that their insurance is capped out on a claim, or they are the subject of a lawsuit. It is often umbrella insurance that complements a home or auto insurance policy.

Umbrella insurance is also often used in business for the same purposes. At The Insurance House, we want Tucson, AZ business owners to have the insurance they need to protect them from financial loss.

Why Your Business Needs Umbrella Insurance

It only takes a minute in your life for your business to close permanently because of a lawsuit. In today’s world, you never know what could happen. A slip and fall that caps out your commercial insurance or an auto collision that maxes out your commercial auto insurance could ruin you.

Worse, the wrong thing said about you could have you in court defending yourself with exorbitant costs.

All of these accidents and liabilities can be covered by umbrella insurance.

What Umbrella Insurance Can Cover for You

When it comes to problems in business today, you have everything to lose. Umbrella insurance can cover a variety of expenses that you may not have even thought of.

Umbrella insurance can cover the following rising costs in today’s world:

• Out of pocket legal bills and settlement expenses
• Medical costs
• Vehicle repairs and replacements

You may not be expecting legal bills, but they can happen today over anything. Today’s settlements for an accident or even defamation are often adjudicated in the millions. You want to avoid that.

You already have liability coverage in your commercial policy. Umbrella insurance simply enhances that and provides more coverage.

Protect Your Business

When you have a business in Tucson, AZ, you should consider umbrella insurance. It will complement your existing coverage, and give you peace of mind. Call The Insurance House for a quote to protect your business today.

Required Auto Insurance in Arizona

Posted on July 28, 2021August 1, 2021 by admin

When you have a car in Arizona, it’s important to insure it for your protection as well as the protection of others. It’s also legally required to have this coverage, so don’t go without it. If you need auto insurance, call us at The Insurance House in Tucson, AZ.

Bodily Injury Liability

In Arizona, your auto insurance must have a specific amount of coverage for one person who is injured in an accident that you are liable for. It also has another amount required for everyone who is injured in an accident. These coverage amounts are relatively low, however, so it’s a good idea to consider raising this coverage or getting an umbrella policy to supplement it.

Property Damage Liability

There is a small amount required for property damage liability. Like the bodily injury coverage, it’s a good idea to get more of this than is required. If you were to have an accident with an expensive car, the required amount of coverage may not be enough to pay for all of the damage.

Uninsured Motorist Bodily Injury

With this coverage, an accident that you have with an uninsured motorist can still be paid for. It will pay for your medical bills if someone else is responsible for an accident and they do not have insurance to pay for those bills. This includes a minimum amount of coverage for one person injured in the accident and a higher amount required for everyone who becomes injured.

Underinsured Motorist Bodily Injury

A driver may have insurance, but it may not be enough to pay for all the damage and medical bills. With underinsured motorist protection, you will have a minimum amount of coverage for one person insured as well as another amount in protection for everyone who was injured.

Get Your Auto Insurance

To get your required auto insurance, contact us at The Insurance House in Tucson, AZ.

4 Boat Insurance Add-ons to Consider

Posted on June 30, 2021June 30, 2021 by admin

You have bought a boat in Tucson, AZ. Congratulations! There are not many things that beat the coziness of spending time on the water. However, as you have great times in the water, don’t forget one thing: boat insurance. Watercraft insurance protects you, your boat, and passengers from boating accidents that can cause unspeakable damages.

While buying insurance is one thing, do you know add-ons to consider to get the best out of your coverage? If not, hang on as The Insurance House guides you on add-ons to consider for your boat insurance.

Comprehensive and collision coverages

Think about the hard work you have put into owning your boat. It’s massive, right? Having said that, you need boat insurance to safeguard your prized asset when perils like accidents, falling objects, theft, fire, and other risks occur. In addition, boat insurance covers repairs and even replacing your boat when a total loss occurs.

Liability coverage

While boat accidents aren’t as common as vehicular accidents, boating accidents still happen. And when you are deemed liable for a boating accident, you could face property damage, bodily injury, and possible legal claims. Without liability coverage, you could face significant out-of-pocket expenses.

Medical payments coverage

Every day, medical costs in America are on the rise. While you may comfortably afford out-of-pocket medical costs for minor injuries, it’s for severe accidents that you need MedPay coverage. This coverage comes in handy, especially when you don’t have health insurance, by covering medical expenses for you and your passengers following a boat accident.

Uninsured boater coverage

This insurance coverage saves the day when you collide with another boater without coverage. Unfortunately, since boat insurance isn’t mandatory in Arizona, it’s not uncommon to encounter uninsured boaters. However, if you have this coverage, it covers medical costs and property damage inflicted by uninsured boaters.

Buy boat insurance today!

Do you own a boat in Tucson, AZ? It’s time to protect your investment with boat insurance from The Insurance House. All you need is to contact our team for an affordable quote.

3 Top Benefits of Flood Insurance

Posted on May 25, 2021May 25, 2021 by admin

Being home to rivers like Verde, Salt, and Gila, the flooding threat is never far for Arizona residents. River, flash, and coastal floodings can happen unexpectedly, putting many homes in danger. And because typical home insurance doesn’t cover damages, homeowners could be left counting unimaginable losses when floods damage their homes. So, what’s next? If you have a home in Tucson, AZ, and the nearby areas, you need flood insurance from The Insurance House to protect your investment. Here are the benefits you accrue when you buy flood insurance.

Protects your property

How much does your home cost? It’s probably thousands of dollars. Given that your home is one of the most expensive investments you have, you need to protect it from flood damage to avoid financing costly repairs from your pocket.

Flood insurance pays damages to your roof, walls, floor, and other permanent fixtures to your house when floods strike. Flood insurance, through the NFIP, covers your home up to $250,000 and personal assets up to $100,000, but you can increase this coverage at an additional premium.

It gives you peace of mind.

Weather can be unpredictable. Floods can occur without warning, causing significant damage to your building and the contents inside. Instead of worrying every time the weatherman mentions a looming storm, purchase flood insurance for year-round peace of mind.

To protect your loved ones.

Home is a safe haven for your loved ones and pets. If floods strike today, your loved ones are faced with the prospect of becoming homeless or renting an apartment. If you cherish your home and loved ones, purchase flood insurance to ensure that you can quickly get back on your feet even after flood damage.

Buy flood insurance in Arizona.

Did you know that just five inches increase in water level may result in damages of up to $25,000? Flood damage can be catastrophic. That said, be wise and purchase a flood insurance plan from The Insurance House to protect your home. Contact our office in Tuscon, AZ today!

Why do I need life insurance?

Posted on April 20, 2021April 20, 2021 by admin

In the Tucson, AZ area, it continues to be important that people spend the right amount of time thinking about their insurance needs. A form of insurance that all people need to get here is life insurance, which can offer good financial protection to the beneficiaries of a policy. There are a few reasons that people here will need to get life insurance.

You Need to Provide Financial Protection

The most common reason people in this area of Arizona are going to need to have a life insurance plan is to provide financial protection to others. If you have children, a spouse, or other people who depend on you and your income, it will be vital to provide them with financial support. If you were to pass away, the benefit in the life insurance plan could provide the support needed to maintain their life. You can build a plan to meet your specific needs, and it could be used to cover any form of expense.

You Are Looking for an Alternative Investment

You may also need to get a life insurance plan if you want to have an alternative investment option. Life insurance customers could choose to get whole life coverage. With these policies, some of your monthly payments will automatically go into an account that builds with interest and is accessible in the future.

You should always consider your life insurance needs if you are in the Tucson, AZ area. As you are looking for coverage here, it would be wise to call The Insurance House. The team with The Insurance House can help you figure out your policy needs. Contact us to get started with a quote and have your questions answered.

Examining The Benefits Of Bonds Insurance

Posted on March 24, 2021March 24, 2021 by admin

Based in Tucson, AZ, The Insurance House offers coverage to the local community. For over 30 years, we have helped our clients find the coverage they need to protect what matters most. We want to promote a family atmosphere and help our customers feel as comfortable as possible.

The Benefits Of Bonds Insurance

Bonds insurance helps you operate your Tucson, AZ business efficiently. Bonds insurance can help you find investors willing to support your plan to raise capital.

The policy guarantees that policyholders will receive repayment in full along with accrued interest. Bond issuers have the ability to improve their credit. The bonds also become more attractive to potential investors.

If your company is still seeking creditworthiness, bond insurance is an asset. Bond insurance helps minimize risks, which means lower interest rates. Bond insurance makes it easier for you to find investors.

Bonds insurance provides a layer of security when you issue bonds. The policy includes full transparency. It directly outlines the terms regarding the payment schedule so that the bondholders are fully aware. Bonds insurance helps stabilize your company’s credit rating. The policy also includes a guaranty. Having bond insurance makes it easier for an investor to look at the potential risks before deciding. Also, keep in mind that prospective investors will likely analyze the bond’s underwriting to see any collateral protection.

Once you start researching coverage, be sure to check your credit rating with the Better Business Bureau. If a potential issue regarding the default arises, bond insurance will ensure that your business is protected.

The Insurance House Will Guide You Through The Process

Visit our website today to learn more information about bond insurance.

Why do you need umbrella insurance in Tucson?

Posted on February 20, 2021February 20, 2021 by admin

Those that live in the Tucson, AZ area are going to have a variety of insurance needs. While you will benefit from coverage that can protect your most important assets, you also need to ensure that you have proper liability insurance protection. When you want to improve your personal insurance situation, getting an umbrella insurance plan would be a great option. There are a few reasons why you need to get this coverage.

Protection Against Major Accident Risk

Most people will get liability insurance through their home and auto insurance plans. In the majority of cases, there will be enough coverage under these plans to handle any claims. However, if there is ever a very significant insurance claim, it’s possible it could exceed your policy. When you get an umbrella insurance plan, it will provide the coverage needed to cover damages that exceed your other insurance plans.

Protection Against Risks Not Otherwise Covered

A home or auto insurance plan will cover many liability risks, but they are not completely inclusive. This means that you could be named in a liability claim that is not covered by these policies. Fortunately, you can get an umbrella insurance plan that will provide the general coverage you need to mitigate your personal liability insurance risks that are not otherwise covered.

When you are looking for an insurance plan and are in the Tucson, AZ area, you should speak with The Insurance House. The insurance team with The Insurance House knows how valuable the umbrella insurance plan is. The team here can give you the insight that is designed to meet your needs. This can ensure that you are properly covered for liability and make you feel secure about your liability limits.

Why should I get an auto insurance plan?

Posted on January 26, 2021January 26, 2021 by admin

The Tucson, AZ area continues to be a great place for people to visit or move to and call home. There will always be a lot that you can enjoy in the city and surrounding areas when you live here. As you are looking for ways to get around, buying a car is a great option. Along with your vehicle purchase, you also need to pick a new insurance plan. There are a few reasons that you should get auto insurance when you are here.

Insurance is a Legal Requirement

A primary reason to get an auto insurance plan is that it is a legal requirement. Those that live in this state need to abide by state rules surrounding auto insurance. Anyone that wants to drive a car here needs to get a full liability auto insurance plan. This coverage gives comfort that you will pay for damages if you cause some during an accident.

Insurance Protects Car

While having an auto insurance plan is important to ensure that you stay in compliance with state law, you should also get one to protect your car. Those who have decided to buy a car will make a major investment that they need to protect. When you get a full auto insurance plan with collision and comprehensive coverage, you will have the protection needed to repair or replace your vehicle following an accident.

Those who would like to get an auto insurance plan in the Tucson, AZ area should speak with the Insurance House team. When you call The Insurance House, you will get the support needed to choose a policy. This will ensure your car is protected and you are in full insurance compliance.

The Insurance House

Get a Quote Instantly