Protect Your Business

In today’s litigious society, even small mishaps can result in large lawsuits. That’s why general liability insurance or often referred to as business insurance, along with property and worker’s compensation insurance, is essential for most companies. Liability insurance protects the assets of a business when it is sued for something it did (or didn’t do) to cause an injury or property damage.

Your business, no matter how small or large, faces liabilities every day. The only way to properly protect your business assets is to purchase adequate business liability insurance. A Commercial General Liability (CGL) insurance policy is the first line of defense against many common claims. General Liability insurance often covers claims of bodily injury or other physical injury or property damage. It is frequently offered in a package with Property insurance to protect your business against incidents that may occur on your premises or at other covered locations where you normally conduct business. Commercial General Liability can protect business even if your company is negligent or liable for damage, injury or loss to another’s property, reputation or health, your business can keep its assets if it is adequately insured.

Things to Consider

Business Insurance minimizes an organization’s risk to financial loss associated with a myriad of exposures. Every business, large or small, regardless of industry, has its own unique operations and exposures to loss. Horenberg Insurance partners with our business clients to analyze their operations and exposures to loss, then designs insurance, risk management and claims administration programs that address their specific needs.

Our clients appreciate the options we present, allowing them to make informed insurance buying decisions. Sophisticated insurance buyers understand the importance of having qualified insurance professionals working to protect their interests. Horenberg Insurance employs individuals committed to performing these services and delivering excellence in customer service.

We are in a network of  professional and knowledgeable agents (Not part of The NestEggg Group, Inc.) that can assist you in making the most informed decision.

Our broad market representation and portfolio of business insurance products offer programs tailored for many different industries. Get the benefit of our independence and expertise working for your organization today!

Protect Your Home

Homeowner’s policies come in different types that are based on need. One type (HO-3) covers an Owner Occupied Dwelling, another type (HO-6) covers a Condo Unit Owner, and a third type (HO-4) provides coverage for a Renter or Co-Op Owner. Commonly, all three types include coverage for owned property and liability to others. However, the levels of coverage for these three types can vary greatly.

A basic HO-3 policy will normally cover damage to the home from natural causes such as fire, lightning, windstorms, hail, rain, or volcanic eruption. In addition, man-made disasters such as riots, vandalism, damage from cars or airplanes, explosions, and theft will often be covered. Damage caused by falling objects, the weight of ice, snow or sleet, freezing of plumbing, heating or A/C systems, electrical discharges, or the rupture of water heating or protective sprinkler systems also fall under the HO-3 policy.

A typical Homeowner’s policy provides limits of coverage for the Dwelling, Detached Structures, Personal Property, Loss of Use of the Dwelling, Personal Liability Coverage and Medical Payments Coverage.

Do you want replacement cost coverage? Do you need Flood or Earthquake insurance?

Replacement cost coverage will pay for the replacement of damaged or stolen items at current market prices, not at the prices for which those items may have been acquired years ago.

Flood, earthquake, war, and nuclear accident are not covered under normal Homeowner’s policies. Flood insurance, which is very economical, and earthquake insurance can be purchased separately.

It’s very important to take the time to discuss your particular needs with one of our Personal Insurance Agents so that your policy can be designed to provide you with the coverage you need.

We are in a network of  professional and knowledgeable agents (Not part of The NestEggg Group, Inc.) that can assist you in making the most informed decision.

Flood Information

All it takes is a few inches of water to cause thousands of dollars of damage. Go to ready.gov for helpful preparedness tips and start preparing today!

Mortality is a Fact of Life

Let us take the worry and stress out of planning for the unplanned. A Life Insurance policy will offer financial support to the dependents/beneficiaries (family, loved ones, business partners) of the person insured. It also will provide a measure of financial security so beneficiaries will be able to meet financial responsibilities that were previously covered by your income.

Life Insurance is purchased for many different reasons including Income Replacement, Asset Protection, Estate Planning and more. The type of protection you need or the tax planning purpose you have helps determine the type of coverage you need. The cost is determined by the plan you chose, the Face Amount of coverage, and the qualified rate class. Not every carrier underwrites every applicant the same way.

Whole Life and Universal Life are commonly called “Permanent Insurance” coverage and are designed to stay in-force for the lifetime of the insured as long as the planned premiums are paid when due. While permanent insurance is more costly, it usually includes an investment return in the form of either dividends or interest, and builds cash value. Cash value may be available to borrow against at some point in time.

Term Life Insurance is available today in 10, 15, 20, 25, and 30-year terms (subject to the age of the applicant), providing a fixed premium and Face Amount during the term selected. Regardless of the term selected, at the end of the term, the policy will convert to an annually increasing premium term policy, and costs can become extremely prohibitive, if the insured is unable to re-qualify for the same Medical Underwriting Class and a new fixed premium term. Term Life insurance generally offers a period of time in which the insured/owner can convert the policy to a permanent insurance policy at the then current age, without medical underwriting.

We are in a network of  professional and knowledgeable agents (Not part of The NestEggg Group, Inc.) that can assist you in making the most informed decision.

Facts

Rate Class Factors:

  • Age
  • Sex
  • Smoker/Non-Smoker
  • Height
  • Weight
  • Medications Taken
  • Medical Conditions
  • Family History
  • Financial Underwriting and more

Types of Life Insurance:

  • Whole Life
  • Universal Life
  • Term Life

Informed Vehicle Protection

Purchasing the right Auto Insurance can be a difficult and often a time consuming decision. Auto insurance is not only necessary; California law requires it, as do most states. Auto insurance covers you from losses incurred while operating a vehicle and safeguards your financial security in the event of an accident. You can purchase different coverage depending on your personal needs. Coverage can protect you from liability in the event of bodily injury, property damage, and medical payments, comprehensive & collision coverage.

Motorcycle insurance and recreational vehicle insurance is often over looked. Most people consider their motorcycles, quads and even golf carts, toys, not even thinking about insurance for these types of vehicles. Insurance for these various types of vehicles is normally very inexpensive compared to an auto insurance policy and is necessary in protecting your investment. You can purchase different coverage depending on your personal needs. Depending on the value of your vehicle you may choose comprehensive & collision coverage.

Don’t leave your automobile, motorcycle, quad or golf cart uninsured and unprotected. Vehicles used for your business will need to be evaluated to see if a commercial auto policy is needed. We are in a network of  professional and knowledgeable agents (Not part of The NestEggg Group, Inc.) that can assist you in making the most informed decision.

Misconceptions:

I have to pay for Uninsured Motorists coverage in my policy. I don't understand why I have to pay for someone who can’t bother to buy his or her own insurance.

FACT: The fact is that the Uninsured (and in some states Under-insured) Motorist coverage in your policy does not pay for the other guy. It pays you if you are injured in an automobile accident and the other guy’s policy doesn’t have enough coverage to pay for you injuries.

I'm a safe driver and have never had an accident that was my fault. My car is getting older and is worth less than it was before but it seems like every year the cost of my insurance goes up.

FACT: The fact is that your auto insurance basically does two things for you: It pays for your responsibility for damage you do to someone else’s car; for an injury that you cause someone else to incur and it pays to repair damage to your car. The reality is that the cost of medical care goes up every year and while the value of a car might decease over time the cost of repair, both labor and parts, goes up.

Red cars cost more to insure than other colors.

FACT: The fact is if your red car is a sports car and your other color car is a mini van, maybe the red color does cost more to insure. But just about all insurance companies do not ask what color your car is when offering you a price for auto insurance.

I have a third party towing service and I also have Towing and Labor coverage under my policy so I can collect from both.

FACT: The fact is that you should not try to collect from both. So if you do have a membership with a third party towing service you should not have the towing coverage on your policy.

I only need to be concerned about price because all auto insurance policies are the same.

FACT: The fact is that all auto insurance policies are not alike. First and foremost would be the coverage limits provided by the policy. Any given insurance company may offer a policy that has the minimum coverage limits as required by the state to one million or more dollars of coverage. And here’s where some folk really get confused. Even if two polices offer the same limits, they may not offer the same coverage and you really need to be concerned with both limits and coverage to make sure you are properly protected.

If my car is older, not worth much money and gets totaled in an accident, my insurance company will only pay the blue book value for it.

FACT: The fact is that depending on the Loss Settlement provision in your policy, this is probably true. An older car that has little value may not be worth the cost of the Collision premium and the deductible if a total loss occurred.

A break in my windshield means that I will have to pay my Comprehensive or Other Than Collision Deductible out of my pocket in order to get a new windshield.

FACT: The fact is that if the break in the windshield or other auto glass is repairable, most auto insurance companies will pay for the cost of repair in full.

My policy only covers someone who I give written permission to drive my car.

FACT: The fact is that most policies will cover anyone who the Named Insured gives permission to, but there are exceptions. Most insurance policies consider household members to be automatically covered. It is true, however, that all members of the household need to be identified to the insurance company.

My auto policy covers my rental car.

FACT: The fact is maybe it does, maybe it doesn’t. It depends on what kind of vehicle you are renting, what you are going to do with it, how you are going to drive it and how long you are going to have it in your control.

 

I have automatic coverage for my new car because my car salesman says I have 30 days to call my agent.

FACT: The fact is that all policies specifically say what kind of automatic coverage applies or does not apply to a new car.

 

Shouldn’t it Be Called Un-Healthy Insurance?

Health insurance is insurance that pays for medical expenses. It is sometimes used more broadly to include insurance covering disability or long-term nursing or custodial care needs. It may be provided through a government-sponsored social insurance program, or from private insurance companies.

Health insurance often provides coverage for medicine, visits to the doctor or emergency room, hospital stays and other medical expenses. Policies differ in what they cover, the size of the deductible and/or co-payment, limits of coverage and the options for treatment available to the policyholder.

Health insurance can be purchased directly by an individual or it may be provided through an employer (such as group health insurance). Medicare and Medicaid are programs that provide health insurance to elderly, disabled, or uninsured individuals.

The Patient Protection and Affordable Care Act (Obama Care) is the most significant regulatory overhaul of the U.S. healthcare system since Medicare and Medicaid were created almost 50 years ago. How is this legislation going to affect your personal healthcare choices, your business or your employees? Wouldn’t it be great to have someone to whom you can turn in order to get the answers?

We are in a network of  professional and knowledgeable agents (Not part of The NestEggg Group, Inc.) that can assist you in making the most informed decision.

Protect Your Retirement

Since the cost of long-term care is one of the most devastating things that can happen to a retirement portfolio, Long-Term Care Insurance (LTC) is rapidly becoming an unavoidable part of financial and retirement planning. However, even though the risk is real, most people avoid thinking about it until it is too late.

There is a common misconception that Medicare or Health Insurance plans will pay for Long-Term Care Facilities and Home Healthcare Workers. Generally individuals who require long-term care are not sick in the traditional sense. Instead, they are unable to perform the basic activities of daily living (ADLs) such as dressing, bathing, eating, toileting, continence, transferring (getting in and out of a bed or chair), and walking. In reality, you need Long-Term Care Insurance to cover home care, assisted living, adult daycare, respite care, hospice care, nursing home, and Alzheimer’s facilities (up to the policy benefit maximum).

Age is not necessarily a determining factor in needing long-term care. About 60 percent of individuals over age 65 will require at least some type of long-term care services during their lifetime. About 40% of those receiving long-term care today are between 18 and 64. Early onset (before age 65) Alzheimer’s and Parkinson’s disease are rare but do occur.

Long Term Care premiums are calculated on the type of plan selected, your age, and your health. The younger you are when you purchase a policy, the less the annual premium cost is. And keep in mind that once a change of health occurs, long-term care insurance may not be available to you.

It is estimated that by 2020, 12 million people will require Long-Term Care. And with the average cost of a Private Nursing Room now at $74,000 per year, that can mean real trouble for the uninsured or under-insured.

Long-Term Care Insurance should be an important part of any retirement planning discussion. Adding an extra layer of protection whether through an employee benefit or individual plan makes good sense.

We are in a network of  professional and knowledgeable agents (Not part of The NestEggg Group, Inc.) that can assist you in making the most informed decision.

Tax Benefits Of LTC Insurance

Premiums paid on LTCI may be eligible for an income tax deduction., depending on the age of the covered person. And benefits paid from a LTC contract are generally excluded from income. For businesses, while it depends on the type of business, most premiums paid by businesses for LTCI are deductible if not included in the employee’s taxable income.

 * NestEggg is not responsible for misinformation from our clients and will not be held accountable for any missing or misconstrued information that may prevent you or your business from remaining compliant.
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