Spring Forward: Why Now is the Best Time to Reevaluate Your Life Insurance

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You may have purchased your life insurance policy in Blue Ridge, GA, years ago. However, things change. Now may be the best time for you to take a few minutes and reevaluate your policy. At The Insurance Mart, we can give you a few things to think about.

Things Change

When you initially built your life insurance, it may have met your needs. However, various life changes may have happened, including:

  • Marriage or divorce
  • Having kids
  • Buying a home
  • Debt increase (or payoff)
  • Health changes

Depending on these changes, you may want to increase or decrease your coverage. Kids may have graduated college already, so they don’t need tuition anymore. Or you may have started to have kids. Additionally, if you are healthier than you were when you initially obtained your policy, you may qualify for lower premiums.

Is Your Policy Expiring?

If you have term life, your policy may be expiring. This means that it might be time to renew, adding more coverage so that you’re covered for more years of your life.

If you are going through a career change and your policy was through your employer, it may be time to explore converting the policy to ensure you have coverage regardless of who you work for.

There are all sorts of options for life insurance, so now might be the best time to reevaluate. Otherwise, life changes could happen, and your policy will not be right for you and your family.

Start the Conversation Today

You don’t have to reevaluate your life insurance policy alone. At The Insurance Mart, our insurance agents can look at your policy, ask you a few questions, and even help you renew or convert your policy. Contact us today, and let’s start talking about life insurance.

What Constitutes a Property as a “Second Dwelling”

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If you own multiple properties, it’s crucial to understand what constitutes a "second dwelling" to determine whether they are eligible for Secondary Dwelling and rental insurance. Here are a few key points to keep in mind to ensure the property’s safety and protect any tenants residing in the home.

Primary Residence is Elsewhere

If you own a property but live elsewhere full-time, this property is considered a second dwelling. This could be a vacation home you visit periodically or rent a property. This property is separate from your main residence and can be located nearby or many miles away in a different town or county. Many of these properties are either inherited or purchased to generate rental income.

If you plan to rent out the property monthly or weekly, you’ll need to apply for second dwelling insurance to cover the structure of the home in the event of damage. For long-term rental tenants, obtaining their own renters insurance for their personal property is recommended.

A Separate Structure on Your Main Property

A second home built on your property that operates independently of the primary structure can also be considered a second dwelling. This could be a home used for guests or rented out. It will have its own kitchen, bathroom, and living space that operates independently of the main home.

If you want to learn more about second dwelling and rental insurance, we’re here to help at The Insurance Mart. We proudly assist homeowners in and around the Blue Ridge, GA area.

Do I Need Recreational Insurance If I Live in My RV Full-time?

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More people in Blue Ridge, GA, are choosing to live in their RVs full-time. If you’re considering joining this growing trend, ensuring your home is adequately insured is crucial. But should you opt for homeowner’s insurance or recreational insurance? The Insurance Mart can provide the best answer and guide you towards a comprehensive policy.

Full-Time RV Insurance

The solution is simple. Most companies that insure recreational vehicles offer full-time RV insurance for those who use their RVs as their primary residence. You must live in your RV for at least six months of each calendar year, so even if you have a permanent home that you visit occasionally, you may still require this type of coverage.

Full-time RV insurance provides more liability coverage than a traditional policy. You’ll receive year-round coverage, plus higher limits for the following:

  • Medical payments to those injured in or near your RV
  • Personal liability for damage occurring when your vehicle is parked
  • Loss assessment, covering fees to an association where you have parked your RV

What About My Personal Belongings?

Your specific policy will determine the extent to which your personal belongings are covered inside your RV when you live there full-time. Most policies provide at least some protection. However, if you store valuables inside, you may want to consider additional protection. Some companies providing RV insurance offer add-on provisions for this purpose. You may also want to consider buying a separate policy covering your personal belongings to ensure you have enough coverage in case of theft or weather damage.

The agents at The Insurance Mart, serving Blue Ridge, GA, can ensure you have adequate protection when you live in your RV full-time. Contact our office today to get started on a policy.

Understanding the Basics of General Liability Insurance for Commercial Investors in Blue Ridge

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Protecting your business and commercial investments in Blue Ridge, GA is essential, especially when it comes to common liability risks. If you’re determined to insure your commercial investments properly and want to do so with the right coverage, consider enhancing your general liability insurance policy. At The Insurance Mart, we’re here to work with you to assist with mitigating the financial impact of unexpected accidents, injuries, and workplace incidents.

What is General Liability Insurance?

General liability insurance helps provide protection from common liability risks. It is imperative for those operating in various industries. Proper coverage can mitigate the financial impact or losses due to unexpected legal woes or incidents in the workplace or on commercial property.

Why General Liability Insurance is Essential

For commercial property owners or investors near Blue Ridge, general liability insurance can be beneficial for the following reasons:

  • Protection From 3rd-Party Claims: Bodily injury claims and property damage claims will be covered with the right general liability policy in effect.
  • Legal Expenses: General liability coverage helps with settlement payments, court costs, and attorney fees that may be associated with lawsuits linked to your business or investment.
  • Customized Coverage Options: It’s also possible to tailor your general liability policy to your needs, such as handling liability concerns for retail tenants or determining risks that are associated with short-term rentals you own or have invested in.

General liability insurance is a key aspect of risk management for any business owner or commercial investor in the Blue Ridge, GA region. If you’re unfamiliar with general liability insurance and why I want to know it’s beneficial for business owners and commercial investors, we can help. For your quote and free consultation to better understand which general liability policies and coverage options are right for you, contact The Insurance Mart directly today.

I Have an Old Car… Will Auto Insurance Cover It?

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When you purchase your first car or a new vehicle, you will need auto insurance. This is not only a legal requirement for driving on the road but also ensures that your investment is protected in the event of an accident. Most people on the road drive cars that are either brand new or relatively recent models. However, what if you own an older model car you bought used? Or, what if you’re a collector of vintage cars and want to ensure all your vehicles are insured, whether you plan to drive them or not? This article will provide information about auto insurance for older cars and how The Insurance Mart in Blue Ridge, GA, can help you find the right coverage.

Does Auto Insurance Cover Old Cars?

Yes, auto insurance does cover old cars. If you own an older vehicle, you can find an auto insurance policy that suits your needs. However, keep in mind that your premium will depend on the risk associated with your vehicle. If you own a valuable vintage car that you plan to drive, your premiums may be higher due to the car’s value. Additionally, if you’ve customized your car, it’s crucial to check with your insurance provider to ensure these customizations are covered. Some modifications may only be covered if you purchase additional protection for those parts.

Find Your Auto Insurance Policy Here With The Insurance Mart

Auto insurance can be complex but much simpler with the right support. The team at The Insurance Mart in Blue Ridge, GA, is always ready to help you find the right auto insurance. Get insurance quotes with us today!

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Understanding Confusing Health Insurance Terms: Deductibles

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The Insurance Mart brings its customers the second article in our "Understanding Confusing Health Insurance Terms" series today. The term deductible appears in more than one type of insurance, but it means the same thing regardless of the type of insurance policy. Some health insurance policies include a deductible, a capped amount of money that the policyholder must pay towards the medical service before their health insurance pays out.

Understanding Deductibles

An insurance deductible varies by policy. Some health insurance policies do not include a deductible, and some do. The Kaiser Family Foundation (KFF) researches annual deductibles paid, and in 2022, the last year for which it had complete data, the average deductible for an individual, employer-provided insurance plan was $1,763. Health insurance deductibles at small companies were $2,543 in 2022, while those at large companies were $1,493.

An Example of a Deductible Payment

For instance, if you visited your doctor in Blue Ridge, GA, and the physician diagnosed a condition requiring surgery, you would pay the first $1,763 of the medical bill. Once you pay the deductible, your health insurance will take care of the remainder of the bill. Normally, the hospital or other medical center bills a patient for all services at one time. The medical center accepts the payment and distributes the patient’s payment, and that of the insurance company, to each individual or department. You could pay your deductible using a credit card, debit card, or cash.

Changing Your Deductible

Every health insurance policy that uses a deductible includes the amount in the policy documents. If you notice that your insurance policy deductible seems a little steep, contact The Insurance Mart to update your policy. We can help you switch to a policy with a lower deductible so your next trip to your Blue Ridge, GA, physician won’t cost you as much out of pocket.

Conversion Options in Life Insurance

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Conversion options in life insurance allow policyholders around Blue Ridge, GA to switch from a term life insurance policy to a permanent life insurance policy without undergoing a medical exam. This feature can be valuable for those who originally purchased term life insurance for its affordability but later decide they need the long-term benefits of permanent life insurance.

How Life Insurance Conversion Works

Most term life insurance policies come with a conversion option that lets you convert your coverage to a permanent policy, such as whole life or universal life insurance, within a specific time frame. This period is often called the "conversion window" and ends before the term policy expires. The key benefit of converting is that you don’t need to go through the underwriting process again, meaning your health status at the time of conversion won’t impact your eligibility or rates.

Converting to permanent life insurance means you’ll gain lifetime coverage instead of coverage that ends when the term expires. You’ll also benefit from accumulating a cash value component, which grows over time and can be accessed during your lifetime.

Benefits of Conversion Options

Conversion options offer flexibility and peace of mind for policyholders who may want more permanent coverage in the future. Suppose your health changes, or you prefer the guaranteed lifelong protection of permanent insurance. In that case, the conversion feature ensures you can make that transition without being denied due to age or health issues.

Additionally, converting to permanent insurance can benefit estate planning or provide long-term financial protection for your family.

The Insurance Mart For Better Understanding of Insurance

The Insurance Mart offers all of the information you need to get insurance. Our agency serves locations in and near Blue Ridge, GA. Call today.

Who Needs Secondary Dwelling and Rental Insurance?

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Owning a second home or renting out a property can be an exciting venture, but it also brings responsibilities. At The Insurance Mart, serving the greater Blue Ridge, GA, area, we’re here to help you understand why secondary dwelling and rental insurance might be essential for your situation.

Understanding Secondary Dwelling Insurance

If you own a second home, whether it’s a cozy cabin in the mountains or a beachside retreat, it’s important to protect this investment. Secondary dwelling insurance covers potential risks that can occur when a property is not your primary residence. This type of insurance typically includes protection against damage, theft, and liability. It’s crucial because second homes are often more vulnerable to risks due to less frequent occupancy.

The Importance of Rental Insurance

Rental insurance is indispensable for those renting out properties. It helps to protect you from potential losses related to tenant damages or legal liabilities. Even with the best tenants, accidents happen. Rental insurance ensures you’re covered for unexpected repairs or legal costs if someone is injured while on your property. Moreover, it provides peace of mind that your rental income is protected should the property become uninhabitable due to a covered loss.

Making the Right Choice with Renter’s Insurance

Determining the right insurance coverage for your needs can be complex, but it’s a vital step in protecting your assets. At The Insurance Mart Blue Ridge, GA, our team is dedicated to helping you find the perfect policy tailored to your unique situation. We prioritize clarity and support to ensure you feel confident in your coverage choices. Ready to explore your options? Contact The Insurance Mart, providing insurance products in the Blue Ridge, GA region, today to safeguard your investment with the right insurance solution.

Insurance Upgrades for Your Fifth Wheel Camper

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If you plan on driving your fifth-wheel camper a lot this summer, consider upgrading your insurance policy. Here are some scenarios that may require additional protection.

Travel Risks

Each time you take your fifth-wheel camper on the road, there’s a risk of being involved in an accident. Basic liability insurance will protect you when you’re driving your vehicle. It also protects your camper when it is parked in a campground or public parking lot.

You should assess the potential travel risks associated with using your camper and choose a liability insurance policy that offers adequate protection.

Mechanical Failures

Mechanical failures can be unpredictably problematic. If a mechanical issue arises and requires a professional mechanic’s services, insurance that offers coverage for mechanical parts could cover the out-of-pocket expenses you’d otherwise incur.

It’s wise to assess your camper’s current condition and research the various types of insurance available that offer protection against potential damage to your camper.

Roadside Assistance

If you worry about breaking down roadside, assistance coverage will be beneficial. This type of insurance often covers the cost of tow truck service and mechanical repairs, and in some cases, it may also provide services such as fixing flats or topping up your gasoline if it runs out while you’re driving.

Get More Help!

For Blue Ridge, GA residents, The Insurance Mart has agents ready to help you understand the various types of recreational insurance available. Once you’ve chosen the coverage that best suits your needs, our agent will prepare your RV insurance documents.

Three Ways Commercial Insurance Protects Your Employees

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As a business owner with employees, having commercial insurance available is one of the best things you can do for them. Commercial insurance aids in the daily operation of your business while providing some security to your employees, as detailed below. 

1. Protection When Hurt

Worker’s compensation is a critical component of commercial insurance. If an employee gets injured on the job, they can access this policy for financial resources during their recovery. This policy covers treatment expenses and, depending on the injured employee’s capacity to work during recovery, may also provide a small stipend. Commercial insurance also shields your business from potential lawsuits by providing benefits to the injured employee, thereby protecting business assets. 

2. Income Protection

Some aspects of commercial insurance help ensure you can continue paying your employees during an income interruption. If unforeseen circumstances cause your business to shut down, you can leverage your commercial insurance to keep paying your employees. This feature protects your business by maintaining the most crucial employees who you might not want to risk losing to other employers.

3. Financial Protection

As a business owner, liability insurance is essential to have readily available funds to cover expenses if your employee is held responsible in court. The legal issue could range from physical harm caused to someone to accusations of defamation. Regardless of the circumstance, your liability insurance can cover these expenses, preventing you and the culpable employee from spending out of pocket.

If you are a business owner in the Blue Ridge, GA area and seeking commercial insurance, contact our team at The Insurance Mart today for more information and to receive a personal quote tailored to your needs.