Why Does Someone Need Renters Insurance?

One of the most momentous occasions in someone’s life will come when they move into their very first home, which often is a rented apartment or another home. This is often a sign that someone has become independent and is ready to make their own life. While there is a lot of excitement that comes with moving into a new rented home, you also need to make sure that you spend time considering your insurance needs. There are several reasons why you need to have renters insurance. 

Will be a Requirement Under Lease

One of the main reasons why someone will need to have renters insurance is because it will be a requirement under the lease. Landlords are very well aware of the unique protections that are provided by a renters insurance policy. Therefore, this is an easy way for a tenant to receive protection for their assets and from liability, which ultimately benefits the property owner as well. 

Ensures Personal Belongings are Covered

When you move into a new home of any kind in Pomona, CA, you are also going to bring with many of your prized personal assets. If your property is vandalized or damaged by a fire or storm, you could face serious losses. To ensure that you have protection against these risks, all people are advised to have a full renters insurance policy before moving in.

Choosing a new renters insurance policy is a big decision for anyone in the Pomona, CA area. If you are evaluating your options for insurance, you should speak with the team at THINK Insurance & Financial Services first. The insurance team at THINK Insurance & Financial Services has experience in helping many different renters choose a policy that gives them the right liability and personal asset protection. 

How Will Pomona Condo Insurance Protect Me?

Living in the Pomona, CA area is a great option for many people. This area has great weather throughout the year and also has a good local economy. When looking to live in this area, a lot of people may prefer to live in a condo due to the lower maintenance obligations and more manageable space. If you do choose to purchase a condo in this area, it is very important that you get condo insurance as it gives several forms of protection.

Provides Protection for Your Assets

Your condo is a very major asset and investment. To ensure that you are covered for a wide variety of situations that could cause a loss, such as fire damage or weather damage, you need to have condo insurance. This insurance can also give you coverage for your personal belongings, which could be valuable if damage or property theft occurs. 

Gives You Liability Coverage

Condo owners take on a unique set of liability, which is not necessarily matched by owners of single-family homes. Condo owners take on liability risk whenever they have a guest over. Additionally, if your condo has a bad leak and causes damage to another property, it will be deemed your responsibility. The condo insurance policy will give you coverage for both of these situations. 

If you want to buy a condo in the Pomona, CA area, it is important that you carefully consider your condo insurance needs. As you are shopping for a new condo policy, you should contact the team at THINK Insurance & Financial Services. The insurance team at THINK Insurance & Financial Services can give you great insight and suggestions that will help you to choose a quality condo insurance policy that gives the best coverage possible. 

How do small businesses benefit from commercial insurance?

Congratulations on starting your own business in the vast Pomona, CA. Regardless of the size of the business, taking steps to start one involves both short term and long term risks. You are not just risking a lack of clients, you risk having your business damaged or destroyed in accidents and natural elements. 

Small businesses also need commercial insurance.

At THINK Insurance & Financial Services, we recommend taking risk management tools that will help your business to transfer the risk to your insurance company. By paying a relatively small premium, the insurance can protect your business from calamities that may lead to larger financial losses like theft, fire automobile accidents, natural disaster, legal liability and even death of a key employee.

Disasters can happen to any business big or small and cause damages that may require large sums of money. If your small business is not insured, you may end up closing down temporarily or permanently if you don’t have enough savings to get it back on its feet.

How to go about it

As a Small business owner, you must first identify the company’s main areas of risk. A risk questionnaire or survey available in many insurance companies can be an excellent tool for the process. The next step is to establish the potential severity of the loss. This way you can determine what risks to insure against and the coverage amount needed. 

Common types of losses 

  • property
  • legal liability
  • worker’s compensation
  • company vehicle
  • Key person loss
  • Life and health
  • Business interruption
  • Business opportunity plans
  •  e-commerce insurance

Protecting your business as well as its valuables is a great financial strategy. If you need more information regarding commercial insurance, contact THINK Insurance & Financial Services at Pomona, CA  to speak to our agents.

Types of Life Insurance Available

The average consumer in the Pomona, CA area will likely have several forms of insurance, which can include coverage for their car, home, medical insurance needs, and even their small business. Another important form of insurance that all people should have is life insurance. When you are shopping for life insurance for coverage for your dependents, you will find that there are a lot of options to consider. The two main types of insurance to consider are whole and term life insurance coverage. 

Term Life Insurance

One very common form of life insurance for consumers today is term life insurance. With a term life insurance policy, you will get coverage for a certain period of time, which is typically between 10 and 30 years. The amount you spend for coverage each month is normally much more affordable than other life insurance options. However, once the term is over, you will lose coverage. Additionally, all premiums are lost and it does not provide any investment benefits.

Whole Life Insurance

People in the Pomona, CA area that are looking for life insurance should also consider whole life insurance. When you get a whole life policy, you will also be able to use it as a conservative investment option. These policies have premium payments that will partially be deposited into an account that appreciates in value over time, which can also be later liquidated.

Choosing the right life insurance policy for your situation is very important. When you are shopping for your next life insurance option, you should contact the team at THINK Insurance & Financial Services. The insurance professionals at THINK Insurance & Financial Services can help you to decipher your options to help you figure out what type of life insurance is right for your situation. 

How Getting Home Insurance in California will Benefit You

Living in the Pomona, CA area can be a great experience. The area also has a good real estate market, which makes it a good option for home buyers. If you are looking to buy a home in this area, you should get home insurance on your property as it will benefit you in several ways.

Gives Necessary and Valuable Coverage

Your home is an enormous asset and investment. The best way that you can protect it is by getting a home insurance policy. When you get home insurance, it will not only protect your home and personal belongings from a variety of risks, but you will also receive great personal liability insurance coverage. 

Ensures You are Compliant with All Agreements

Another reason why you should make sure that you get home insurance for your Pomona, CA area home is that it will ensure that you are in compliance with all agreements. Most people in this area have a mortgage that was used to purchase the property. If this is the case for you, the lender will undoubtedly require that you have home insurance at all times. Additionally, if you live in any type of home association, the related association documents will likely require that you carry home insurance. If you do not carry insurance, you could face penalization from both your lender and the home association.

Since there are many benefits to having home insurance, you should contact THINK Insurance & Financial Services whenever you are looking to buy a property or want to evaluate your home insurance needs and options. The team at THINK Insurance & Financial Services can help you to figure out what type of home insurance is right for you, which will allow you to get into a great policy. 

Do you need uninsured motorist coverage?

When driving, it is natural to assume you’d be protected financially if an accident occurs. Even if you have the minimum insurance coverage required by state law, that doesn’t necessarily mean you’re fully protected if injured by another driver during an accident. If the driver is uninsured, you may find yourself responsible for hefty medical bills. THINK Insurance & Financial Services in Pomona, CA suggests that drivers consider any additional uninsured motorist coverage.

Uninsured motorist coverage is typically broken down into two parts: bodily injury and property damage. With the former, the insurance policy covers injuries caused by an uninsured driver during an accident. The policy will also include injuries related to accidents from a hit-and-run driver. For uninsured motorist property damage, the plan offers payment for damages done to your vehicle and other forms of personal property.

One of the main reasons drivers don’t choose to add uninsured motorist coverage to their policies is because they question why they should be responsible for another person not having insurance. Although in a perfect world this should be the case, you still run the risk of being involved in an accident with an uninsured driver. National estimates indicate that approximately 13 percent of all drivers on the road don’t have automobile insurance.

A major benefit of uninsured motorist coverage is that you won’t have to enter into a long legal battle with the other driver. Although you can sue an individual for medical costs and property damage fees, the process is drawn out and costly. Also, even if you have health insurance coverage, you will need to pay any deductibles and co-payments out-of-pocket. Also, your insurance company may want to enter a claim against the driver responsible for the accident.

Looking to learn more about your automobile insurance options? Contact THINK Insurance & Financial Services, an agency serving Pomona, CA drivers to find out how we can help match you with the right policy for your specific needs.

How much life insurance should I carry

Life insurance is one of those things that is not one size fits all. Many things go into the decision about how much life insurance you should carry. If you live in or near Pomona, CA, THINK Insurance & Financial Services should be your first stop to talk about your life insurance coverage. We have agents with years of experience who know exactly the right questions to ask. 

Where are you in life

One of the first things you need to consider when it comes to life insurance is your age and your dependents. Who do you support? Who counts on your earnings? If you are young or single and no one counts on your income, you will need less life insurance than someone who has a family. Your family can take several forms, it can be a spouse, children or elderly parents. It could be a special needs sibling. You want to be able to guarantee that if you are not there to provide for the people who count on you, they will be taken care of. 

What you owe

Having considered who depends on you, you also need to consider any debt that you may have. Do you have a mortgage or credit card debt? Have you made arrangements for final expenses? The total for these needs to be added to the amount to keep your dependents covered. Now you have the basic amount of life insurance you need. While this is not a hard and fast rule. it is a place to start. 

Once you have decided that you need to add to your life insurance coverage or purchase your first insurance policy, the next step is to give THINK Insurance & Financial Services in Pomona, CA a call or stop by our office to discuss your options. 

What is Commercial Insurance and Why Do You Need It?

Commercial insurance is a type of insurance which protects businesses, the owners and even the employees. Just like with other types of insurance, different types of businesses will need different things from their insurance. Here are a few ways in which commercial insurance generally covers businesses.

In most cases, a business owner can opt for a Business Owner’s Policy. This type of insurance will often combine insurance protection for your commercial property, some type of liability insurance and even insurance which will protect you in the event that a crime takes place at your business. A representative at THINK Insurance & Financial Services can help you customize a package that is exactly right for your company’s needs.

 Why Is Commercial Insurance Important?

Commercial Insurance is important because you have invested quite a bit of time and money into starting and maintaining your business. Allowing the company to be at risk through damages, injuries and even criminal activity also put your financial security at risk as well.

There are many things which we cannot plan for, which is why commercial insurance is a good idea. You can rest assured that your investment is protected against the unknowns.

What is The Right Coverage?

The right coverage for your company may look different from the right coverage for another company. Your coverage amounts will be determined by details such as the size of your company and property, the number of employees you have, the types of services or products you provide as well as many other factors.  Other things to consider are whether or not you rent your property or own it as well as whether or not your business operates vehicles as part of daily work.

Navigating insurance choices can feel tough. That is why THINK Insurance & Financial Services serving Pomona, CA is here to help. Give us a call today to talk about your insurance options.

Is Homeowners’ Insurance Required By Law in California?

Unlike driving a motor vehicle, when you own a home in Pomona, CA you aren’t legally required to purchase homeowners insurance. However, if you purchased your home through a mortgage, your lending bank will probably require you to carry homeowners insurance. This is because they need to protect their investment in the event that your home is damaged by a storm, tornado, fire, or another incident. Additionally, if your home is located in an area with a history of flooding or earthquakes, your lender will also require additional coverage. This is generally true whether you own a single-family residence, co-op, or condominium. 

What if My Mortgage Is Paid Off? 

Once you’ve paid off your mortgage, nobody can force you to purchase homeowners insurance. However, it’s not wise to cancel your ThINK Insurance & Financial Services homeowners policy and possibly risk losing your investment, your belongings, or having a place to live in the event that your home suffers massive damage due to unforeseen disasters.  

Here are some examples of why it’s smart to keep your home covered even if your mortgage is paid off: 

What if your home and belongings are ravaged by a wildfire? What if your neighbor’s tree falls down and knocks your roof in? What if someone crashed their vehicle into your living room? What if someone was walking on your sidewalk, slipped and fell, and ended up with severe injuries? Without homeowners insurance coverage you will be left to deal with the fallout of loss to your home and possessions or facing an expensive lawsuit for a personal injury claim. Having homeowners insurance will give you the peace of mind knowing that you’re protecting your home, your investment, and your assets in the event of damage or injury claim. 

If you have questions when shopping for homeowners insurance for your Pomona, CA home, we’ve got answers. Give THINK Insurance & Financial Services a call today for more information. 

How Do Tickets for Using a Cell Phone Impact Your Auto Insurance?

In the state of California, you can receive a ticket for talking, texting or using your cell phone while you are driving. While most drivers in the state are aware of this law, many people are unaware of how your auto insurance may be impacted if you use a cell phone while you are driving. At THINK Insurance & Financial Services, serving the greater Pomona, CA area, we want to help you better understand how using a cell phone can impact your auto insurance in California. Here is more information. 

Using a Cell Phone is Not a Moving Violation

In some states, using your cell phone while driving is a moving violation. This means that the violation will most likely impact your auto insurance rates. In the state of California, using your cell phone while driving is not considered a moving violation. 

Each Insurance Company Has Different Policies

While using your cell phone while driving is not a moving violation, insurance companies can see the violation. The way they decide to handle it is up to them. Some companies will only increase your rates for moving violations, while other companies can view you as more of a risk or liability due to the infraction. If you have received this type of ticket, there is no way to predict how it will impact your auto insurance in California. 

The way a cell phone ticket is handled varies from company to company in the state of California. The best way to keep yourself safe and prevent your insurance rates from increasing is to not use your cell phone while you are driving. Are you looking to purchase a new auto insurance policy in the greater Pomona, CA area? THINK Insurance & Financial Services can help you find the policy that is best for you. Visit our website now to obtain an estimate.