I’m only 18. Should I invest in health insurance?

Health insurance has many benefits for people of all ages. Even young people can benefit from investing in health insurance. THINK Insurance & Financial Services is committed to educating Pomona, CA residents on health insurance benefits.

What are the Benefits of Health Insurance?

There are many benefits that come with investing in health insurance. Primarily, health insurance makes healthcare more affordable. It also allows you to practice preventative care. When you have health insurance, you can see your doctor regularly and when emergencies arise. This, in and of itself, is priceless. This allows you to catch health issues before they become out of hand. All of these benefits create a sense of peace. It’s a benefit to know that you can affordably get the healthcare you need at an affordable price. These benefits are a big help to anyone of any age.

Should I invest in health insurance?

As a young person, you can access health insurance at a relatively inexpensive rate if you don’t have any pre-existing or chronic disorders. Young people can often obtain health insurance at really affordable rates. If you choose to invest in health insurance at a young age, you can lock in good rates in terms of your monthly premiums. As people age, they tend to develop more health problems. This is why it may be an excellent decision to invest in health insurance while you’re young and your rates are more affordable. If you have questions about health insurance and its benefits, call us. We’d be happy to help you explore your options.

Will my condo insurance cover the flood damage in my condo?

Condo owners have unique concerns about what’s covered by condo insurance. Although they own their unit, they don’t own the exterior or common areas of the condo. As a result, it’s often difficult to determine who’s responsible for what. Some forms of damage aren’t covered by your condo insurance or the condo association. Our team at THINK Insurance & Financial Services is invested in helping Pomona, CA condo owners understand what’s covered and what’s not.

What Does Condo Insurance Cover?

Typically, condo insurance covers the repair of your condo and provides financial compensation for repairing or replacing your damaged personal items. However, there are situations where damage or replacement may not be covered under your condo policy. Damage to your personal items or unit caused by burst pipes from another unit, or some other issue that affects your unit, should be covered by the condo owner responsible for the damage. The condo association may cover damage caused by circumstances outside your unit.

Will My Condo Insurance Cover the Flood Damage in My Condo?

Condo insurance will cover damage from pipes that burst inside your unit and various other forms of water damage expressly covered under your policy. However, condo insurance will not cover flood damage. Flood insurance will cover any damage caused by flooding. If you live in a flood zone, investing in a flood insurance policy is wise because your condo insurance will not cover flood damage. If you have questions regarding condo insurance, call us. We can help you explore your options.

Will renters insurance cover my roommates’ belongings?

Renters insurance can create peace of mind for renters in the same way that homeowners insurance can. Renters insurance can cover your personal belongings as well as theft and a variety of other different situations. THINK Insurance & Financial Services wants Pomona, CA renters to understand the benefits of renters insurance.

What Does Renters Insurance Cover?

The policyholders are the only people covered by a renters’ insurance policy. Renters’ insurance covers damage to your personal items, damage from natural disasters, injuries, theft, and much more. Your renters’ insurance policy will even cover injury or damage to a visitor’s personal belongings while visiting your home. Your personal items are covered even if they are stolen from your car. Renters insurance is a good investment for any rental property you reside in. This includes dorms, apartments, or even a rented house. Although your renters’ insurance policy would cover your personal belongings if they were stolen from your car, it wouldn’t cover any damage to your vehicle.

Will Renters Insurance Cover my Roommates’ Belongings?

Unfortunately, renters’ insurance only covers your belongings, not your roommates.’ Your roommate must be on your renters’ insurance policy to be covered. However, your liability coverage would provide for the repair, replacement, or injury of a guest that sustained an injury or damaged belongings while visiting your home. Your roommate would need to get a renters’ insurance policy to have coverage or be added to your policy. If you have questions about renters insurance and are considering investing in it, call us. We’d be happy to help you explore renters insurance and find the best policy for your unique situation. 

Don’t Skip These Types of Commercial Insurance in California

Protecting your company is a top priority as a business owner. You’ve likely invested a lot of time and money into building your business, so it’s essential to insure it is covered in an emergency. That’s where commercial insurance comes in. Commercial insurance protects businesses from potential liabilities and losses, and various types of coverage are available. Some types of commercial insurance are required by law, while others are optional but still highly recommended. Here are four types of commercial insurance that every business owner should consider:

1. Property Insurance

If you own or lease commercial property, you’ll need to purchase property insurance to protect your assets in the event of damage or theft. This type of insurance will reimburse you for the cost of repairs or replacement up to your policy’s limit. 

Contact THINK Insurance & Financial Services for a property insurance quote today.

2. Liability Insurance 

Liability insurance protects your business if someone is injured on your property or you are sued for damages. This type of coverage can help cover the cost of medical bills, legal fees, and more. 

3. Worker’s Compensation Insurance 

If you have employees, you are required by law to carry worker’s compensation insurance. This type of insurance will help cover the cost of medical bills and lost wages if an employee is injured on the job. 

4. Business Interruption Insurance 

If your business is interrupted because of a covered event such as a fire or severe weather, business interruption insurance can help reimburse you for lost income and expenses incurred. This coverage is often overlooked but can be crucial for small businesses. 

Purchasing commercial insurance is an essential part of being a business owner. To learn more, contact THINK Insurance & Financial Services. We can help you find the right coverage for your business.

Why Should You Consider Increasing Your Life Insurance Policy If Your Wages Have Significantly Increased?

THINK Insurance & Financial Services, serving the greater Pomona, CA area, offers life insurance policies for our clients. One of the questions we often get asked is when someone should consider increasing their life insurance policy. While many life events warrant an increase in life insurance policy amounts, one of the most overlooked is after someone’s wages have increased significantly. Read on to learn why it may be essential to increase your policy after this happens. 

Why Should You Consider Increasing Your Life Insurance Policy If Your Wages Have Significantly Increased?

You should consider increasing your life insurance policy if your wages have significantly increased because your current policy is likely based on your older, lower wages. A life insurance policy helps to cover your final expenses, but it also helps to provide for your family if you pass away unexpectedly or early in life. This allows your spouse to keep a roof over their head and helps to make up for the lost wages due to your death. If your wages have increased, your life insurance should increase to ensure your family can continue to live the quality of life they have become accustomed to should you unexpectedly pass away. 

You should consider increasing your life insurance policy after your life changes, including getting married, purchasing a home, having children, or even if your wages have increased significantly. If it has been a while since you last increased your life insurance policy and experienced significant life changes, now may be the perfect time to take a look at your policy and consider increasing it. Reach out to THINK Insurance & Financial Services, serving the greater Pomona, CA area, to learn more about increasing your life insurance policy.

What are the benefits of life insurance?

Life insurance is a practical and beneficial investment for several different reasons. Not only does it have the ability to pay for any final expenses, but it also fulfills future and immediate needs. Our Pomona, CA team at THINK Insurance & Financial Services understands that many people are unaware of the number of benefits life insurance can provide. 

Final Expenses

Obviously, life insurance pays for burial, cremation, medical expenses, and other costs associated with final expenses. Most people understand that life insurance pays for final expenses. However, the benefits don’t end there. 

Federal/State Taxes, Replacement Income, and Debt

Believe it or not, life insurance can also replace the income of the deceased person, pay off debt, and pay estate taxes. However, our THINK Insurance & Financial Services team can discuss any relevant fees/taxes with beneficiaries or potential life insurance buyers. If you’re the primary breadwinner, your family will suffer financially due to your death. Life insurance can replace your income to ease the financial burden that your death would create. Your life insurance payout can be used to pay for debts as well. Your beneficiary or beneficiaries can use your life insurance in any way they see fit. 

Inheritance

Life insurance can also be used to gift beneficiaries money in the form of an inheritance. A beneficiary can be chosen as an heir to receive your death benefit by simply listing the person as a beneficiary on your life insurance policy. You can also decide to record a charitable organization as the beneficiary of your death benefit. Life insurance can be used in many different ways and has many benefits. If you’d like to know more about life insurance, call our team at THINK Insurance & Financial Services. We’d be happy to answer all of your questions. 

How much motorcycle insurance do I need to legally drive in California?

California motorcyclists must meet state minimum insurance requirements just like motorists to legally drive their motorcycles. THINK Insurance & Financial Services is dedicated to helping Pomona, CA motorcyclists obtain the necessary insurance.

California State Insurance Requirements

Motorcyclists must carry motorcycle liability insurance that meets California’s state minimum requirements. Minimum state requirements must be adhered to in the state of California to legally drive your motorcycle. The current minimum insurance requirements include $15,000 per accident per person for death and injury and $30,000 per accident for death or injury for multiple people. Motorcyclists must also carry $5,000 in insurance coverage for property damage.

Other Considerations…

Liability insurance will only cover damage to other people’s property and other people’s injuries, not your own. You will need to purchase additional insurance to cover damage to your motorcycle and any injuries you sustain while operating your bike. 

Underinsured/Uninsured Insurance

If you’re in an accident and you’re not at fault, there’s a chance the other motorist may be underinsured or uninsured. Suppose your injuries or damage to your motorcycle exceed a specific limit. In that case, the other motorists may not have enough insurance to fully pay for damages to your property, bike, or any physical injuries you may sustain. Investing in underinsured or uninsured insurance will cover any damage or injuries you may support from drivers that are underinsured or uninsured. 

If you have questions about how much insurance you should purchase to legally drive your motorcycle in the state of California, give us a call. Please invest in the coverage that will best fit you and your situation. Our team at THINK Insurance & Financial Services is here to help Pomona, CA motorcyclists get the insurance coverage they need. 

Three commercial insurance lines your business needs

Owning a business is hard. Not only does it mean long hours and no vacation, it means there are multiple risks you are facing that can cause your business to fail. Three-quarters of all companies will not survive to see their 15th anniversary. In Pomona, CA, THINK Insurance & Financial Services wants to give your business the best chance of surviving. Commercial insurance protects your business from some of the most severe risks that most companies face. 

Commercial liability insurance

About one in three businesses get sued every year. That is a pretty scary statistic. Your risk is great; if you are involved in legal action, it can be costly and tank your business. You could be sued by a client, customer, employee, or vendor. Commercial liability insurance can help you survive when the worst possible thing happens. Your business needs to have this vital coverage. 

Commercial property insurance

Many perils affect businesses. It can be weather-related, fire, or theft. With commercial property insurance, it is not just about the physical structure. It will cover the building if you own the location, but it is still beneficial for renters. It covers the things that you use every day to operate your business. It can be computers and electronic equipment. It covers your tools, display units, machines, inventory, and raw materials. You can’t operate without these things. 

Business interruption insurance

You won’t be making any money when your business is closed because of a covered peril. It is hard to pay your regular bills and payroll when your income is cut off. This insurance provides the funds to tide you over until you are back in business. 

Contact THINK Insurance & Financial Services in Pomona, CA for a consultation on your business and the risks you face. We offer no-obligation quotes. 

Terms you need to understand before you choose health insurance

Choosing the right health insurance policy is one of the most important decisions you make every year. Whatever you choose will provide your coverage for an entire year, and if you make a terrible choice, you need to live with it. A wrong choice can be almost as bad as not having any health insurance coverage. At THINK Insurance & Financial Services in Pomona, CA, we understand health insurance, and we will sit down so we can get to know you as well. 

Network

All health insurance carriers have a network of providers contracted to provide services at a predetermined price. Depending on the type of policy you choose, you may have to use services only within the network if you want your health insurance to cover the service. If you have providers you prefer, such as your primary care physician, you must look at the providers in the network to make sure your favorites are included. It is not just doctors either. It is hospitals, urgent care, and labs as well. 

Deductible

The deductible is the amount you must pay for covered services before the health insurance starts to cover those services. A high deductible policy will be more affordable, but you may never reach the deductible. It is something that needs to be considered carefully. 

Co-pay

Once you have met your deductible, the co-pay is the amount you are required to pay for a service. It may be $20 for an office visit or 20% of the covered service. Read your policy details carefully. This is one area where there can be many different options, and not all of them are good options. 

Contact THINK Insurance & Financial Services in Pomona, CA to discuss your health insurance needs.

Important exclusions to understand in your renters policy

Like a homeowner, a renter must carry an insurance policy to protect against liability claims and their belongings. While shopping for a renters policy, it is critical to understand some of the main exclusions in your policy.  Below is a list the agents at THINK Insurance & Financial Services put together of the coverages you should be aware might be excluded from your renters’ insurance policy. 

Earthquakes

Most people assume an insurance policy covers a natural disaster such as an earthquake, but in reality, they are often excluded from renter insurance policies. Residents in the Pamona, CA area may have particular concerns about earthquakes. It is critical to understand if you have coverage under your policy. 

Valuables 

While a renters’ policy should cover most of your personal property, some items might be excluded, and you will need to ask for coverage specifically. Items typically excluded are considered valuable, such as computers, jewelry, and fine art. 

Roommate coverage 

Do not make the mistake of assuming that your policy will cover both your and your roommates’ property. If you want your roommate covered under your insurance, you will want to add them to the policy and make sure their property is listed as insured. 

Dog bites 

While some insurance companies provide coverage for harm caused by a dog, such as a bite, it is vital to confirm that you have the coverage. It will be crucial to make sure your policy provides coverage if you have a dog considered an aggressive breed, such as a pit bull. Even insurance companies that provide coverage for pets often exclude certain breeds. 

If you want to learn more about what is covered under a rental insurance policy, reach out to an agent at THINK Insurance & Financial Services today. We proudly serve the Pamona, CA area.