Why You Need Life Insurance

Though many people don’t like to think about the possibility of dying, the truth is that everyone is going to at some point. You may want to consider getting life insurance at some point, though the sooner you do, the better off you will be. 

So, why do you need life insurance? Here are some reasons why. 

If someone relies on your income, you need to protect them. If you support your family, you aren’t going to want to leave them in the dust when you pass. A good policy will ensure that they will have some money to support themselves while they find a way to get their life back together. 

You may even need life insurance if you are supporting your parents or other loved ones. If you are a caregiver, they are going to need to find someone else to take care of them. Even if you just financially help your parents, they will still need some money after you are gone. 

If you have a business that you run, you are going to want insurance to protect your family. If your business will not be able to survive without you, you are going to want to make sure that your life insurance policy will help your family to get through this difficult time. 

Though you may not think that you need life insurance, the truth is, if there is anyone that relies on your income, you need to have some. Otherwise, your family won’t have the money to get their lives back in order. You also should have some if you run a business. 

If you want to make sure that your family will be fine without you, contact us today at THINK Insurance & Financial Services in Pomona, CA. 

Required Commercial Insurance in California

Businesses in California are required to have certain commercial insurance policies that protect the business as well as its employees and other people. If your California business doesn’t have the right types of commercial insurance, it could face a lot of financial problems. If you need commercial insurance for your business, contact us at THINK Insurance & Financial Services in Pomona, CA to find out more. 

Workers’ Compensation

This mainstay of businesses is required of all California businesses that have any number of employees. This includes employees who are part-time as well as full-time. This insurance coverage pays for the medical bills and lost wages that can be due to an employee after they have an injury while at work. Workplace injuries can be highly expensive for employers, so it’s important to have this coverage in place to protect the finances of the business. 

Commercial Auto Coverage

If a business in California owns a vehicle, that vehicle must be covered by a commercial auto policy. There are a few set minimum amounts for these policies, but they are extremely low when compared to other states. It’s a good idea to get more than the mandated minimums amounts. These amounts include a small amount for property damage liability to pay for someone else’s property if your driver causes an accident. In addition, there is a set minimum amount required for bodily injury liability for when one person has been injured in an accident caused by your driver. There is a higher amount required for all of the people who become injured in an accident that your driver causes. You can also add other coverage types, such as comprehensive coverage, to your policy to better protect your business. 

Get Your Business Covered

To get your business covered by the appropriate commercial insurance, contact us at THINK Insurance & Financial Services in Pomona, CA.

Types of Automobile Insurance You Should Consider

It can be quite confusing when you decide to get a car and then have to find the right insurance for your budget. There are so many different things to consider, that you may not even know where to start.

Here are some of the types of automobile insurance that you may want to consider. 

The basic insurance plan is liability only. This plan is usually not enough because it will only cover medical bills. It will not help you fix your vehicle or replace it if needed. 

For that reason, you may want to look into collision insurance. This will pay for damage to your car if you were in an accident. If it is totaled, they will give you money to help you find a replacement. 

Comprehensive coverage, though expensive, will cover a lot of damage.  It will help you fix your vehicle if it gets damaged due to the weather or a fire. It will also help you recoup your costs if it is broken into. Furthermore, it covers vandalism, floods, and even theft.  

You may also want to get uninsured and underinsured motorist coverage. This will cover your losses if you get into an accident with someone who doesn’t have enough insurance. 

Some people want rental reimbursement coverage in case they need to use a rental at any point. This is optional, but it may be something to consider. 

Though you may want to stick to the minimum amount of insurance, you have to remember that you will only have liability, which will cover medical bills, but that may be about it. If you want to make sure that you get enough insurance, contact us today at THINK Insurance & Financial Services in Pomona, CA. 

Types of Health Insurance

When you are in the market for health insurance, it can be confusing. There are many different plans from a number of different carriers, but talking to an insurance agent can help you to understand the choices better. The healthcare benefits included in a health insurance policy depends a lot on your budget, the type of risk that you present and the type of insurance that you want. If you need health insurance, give us a call at THINK Insurance & Financial Services in Pomona, CA.

Catastrophic Insurance

This type of health insurance is often the most affordable. It gives the policyholder a discount on in-network medical services but has a high deductible. With this health coverage, you often never meet the deductible unless there is a major health incident, hence the name. If a catastrophic expense pushes you over the deductible, the insurance begins to pay for the medical services after that amount. This is often chosen by those who are self-employed so that they have coverage in case of a major incident. 

Employer-Based Health Insurance

If you are an employer who is looking for a health plan for your employees, these plans generally come with a lower deductible. Employees usually pay for a portion of the premiums, though some employers do pay for 100% of the cost of this insurance. There are many types of plans that you can choose for employees, and the cost generally depends on the number of employees, the policy that you choose and the amount of risk that each employee has. 

Get Health Insurance Coverage

If you need health insurance, don’t wait. Every day that passes presents more risk of a sickness or injury. When you want to get started, call us today at THINK Insurance & Financial Services in Pomona, CA to speak to an insurance agent about your insurance needs. 

California Auto Insurance: Why Comprehensive Insurance is Important

When it comes to auto insurance in California, the minimum requirement is liability insurance. You need to have bodily injury per person and per accident insurance, and property damage liability coverage. You also need uninsured and underinsured motorist coverage. 

There are other risks when you drive on California roads that you may want to consider additional insurance for. Comprehensive auto insurance is one of those additional coverages.

At THINK Insurance & Financial Services, we want Pomona, CA drivers to be fully protected when they are driving.

What is Comprehensive Insurance

Comprehensive insurance is coverage that protects you against your losses when something happens to your vehicle that is not collision-related.

When your vehicle is vandalized or broken into, comprehensive insurance will cover those losses. It will also cover some damages such as if something were to fall on your car. 

Benefits of Comprehensive Insurance

The benefits of comprehensive insurance are that it will repair or replace your vehicle for its actual cash value if something happens to it. If you only have the minimum requirements of auto insurance on your car, liability insurance will not cover you for theft, vandalism, or damages caused by other events such as falling or flying objects.

If you do not have an older car, then comprehensive insurance offers the benefit of covering you for the many risks of driving on California roads.

Get a Quote

The best auto insurance is insurance that covers you for many perils. If you want a more thorough coverage, consider adding comprehensive insurance to your policy. At THINK Insurance & Financial Services, we help Pomona, CA get the auto insurance policy that is best for their needs. Call us for a quote today.

Health Insurance Myths To Watch Out For

THINK Insurance & Financial Services serves the Pomona, CA community. We are an independent agency. We strive to help our clients find the coverage they need to protect their assets. We work with multiple carriers throughout the West Coast. This allows us to offer our clients flexible policies designed to meet their needs over time.

Health Insurance Myths

Living a healthy lifestyle allows you to minimize stress. However, sometimes you just aren’t feeling well. During these times, it’s important to have health insurance. Health insurance covers you if you need urgent care. Any emergency medical treatment is covered. Health insurance also covers your preventative care, such as yearly checkups and exams. You are also covered if your doctor prescribes medication to help you feel better. Health insurance also covers your rehabilitation after a serious injury. While you are researching coverage, avoid these common health insurance myths.

Young People Don’t Need Coverage

This is one of the biggest misconceptions regarding health insurance. Health insurance is an asset regardless of how old you are. Anyone can get sick at any time. It’s important to have yearly checkups so that you will be aware of potential issues before they get worse.

I Don’t Need A Policy Because Of Group Coverage

If you have coverage through your Pomona, CA employer’s group policy, simply relying on that policy is a mistake. Having your own individual policy provides you with more options. You can customize your individual policy to align with your needs.

Health Coverage Starts Immediately

Be aware that you will have a waiting period before your health insurance coverage kicks in. Generally, the waiting period is between 1-2 months.

THINK Insurance & Financial Services Will Help You Protect Your Assets

Visit our website to learn more information about health insurance.

Overlooked Renters Insurance Facts To Consider While Researching Coverage

THINK Insurance & Financial Services is an independent agency. We work closely with multiple carriers throughout California. We help Pomona, CA residents find the coverage they need to protect their assets. We offer flexible policies designed to evolve as our client’s needs change.

Overlooked Renters Insurance Facts

The Pomona, CA community is home to several areas of appealing apartment complexes. If you plan to move into one of these rental properties, you’ll need renters insurance. Renters insurance protects your personal items if they are damaged or stolen. Liability coverage is an important part of your policy. You are covered if you invite a guest over, and they suffer an injury. You are also protected if you accidentally cause damage to someone’s property. While you are in the process of finding coverage, pay attention to these often overlooked facts.

Your Coverage Is Separate From Your Landlord’s

Many people make the mistake of relying on their landlord’s coverage to protect them in any situation. You need your own renter’s insurance policy to cover you if your belongings are damaged.

Interior Coverage

Renters insurance also covers any interior damage to the unit. If the unit is severely damaged, you can add alternative living coverage. This gives you a safety net if you have to find another place to stay until your rental unit is fixed.

Extra Coverage

If you live in an area where an earthquake may happen, you’ll need to add extra coverage. Generally, renters insurance doesn’t cover damage caused by natural disasters. Consider adding flood coverage as well, so you will be covered if a severe storm passes through the area.

THINK Insurance & Financial Services Will Help You Protect Your Assets

Visit our website to learn more information about renters insurance.  

How Does Condo Insurance Benefit Me?

Let’s face it. Insurance is never a straightforward topic. With many insurance coverages, it’s easy to get lost in the insurance world. Speaking of insurance, condo insurance is one of the most widely misunderstood insurance coverages. As such, THINK Insurance & Financial Services is here to shed more light on condo insurance, including how it benefits you.

Why should I invest in condo insurance?

If you own a condo in Pomona, CA, you may want to understand whether condo insurance is worth your pennies. After all, you already have a condo owner’s association (COA) master policy. While it’s true you have a COA policy, this coverage only covers common areas like the lobby and swimming pool. However, for your dwelling’s interior, you need stand-alone condo insurance to reap the below advantages:

Liability protection

Suppose you invite a friend to your birthday party. Unfortunately, they slip while on your premises, injuring their back. While the accident was unintentional, you could be liable for their medical expenses. Worse yet, they could sue you for negligence.

Since liability claims can be costly, you need condo insurance to protect you from third parties’ property damage and personal injury claims.

Loss of use protection

Assume that a covered loss like a hurricane destroys your condo. What would you do as your home undergoes repairs? Instead of calling friends and relatives for temporal shelter, condo insurance puts you in a hotel and covers additional living expenses

Asset protection

Condo insurance protects your assets, including clothing, furniture, and electronics, from damage or loss. If you value your possessions, condo insurance should be your priority. Besides, condo insurance protects your dwelling’s interior, including the walls, roofs, carpets, and fixed appliances.

Buy condo insurance today!

Are you shopping for condo insurance in Pomona, CA? You can trust THINK Insurance & Financial Services for all your condo insurance needs. Please get in touch with us today to get the conversation started.

How Whole Life Insurance Works

When you are thinking about getting life insurance, there are many differences between the different types. Whole life is one kind of life insurance, and it works a bit differently from other types of policies. If you want to know more about whole life insurance, give us a call today at THINK Insurance & Financial Services in Pomona, CA to talk to an agent. 

Your Whole Life

Whole life insurance is called this because you can keep it for your whole life. While term life insurance is good for one specific set of time, whole life insurance never expires and stays in place for as long as you pay your premiums. If you are paying them, not even the insurance company can cancel the policy. Many people are given peace of mind in knowing that it will always be there. 

The Cash Value

Another way that whole life works differently is that it builds up a cash value. Over the years, as you keep paying your premiums, a portion of that will become available to you to borrow against. The cash value of the policy can take years to build up, but many people like knowing that it’s there just in case they ever have a serious financial emergency. 

The Death Benefit

When the insured person dies, this insurance type pays a death benefit to the designated beneficiaries. If the insured had borrowed against some of the cash value of the policy, that much will be deducted from the death benefit when it’s time to pay it out. 

Get Whole Life Insurance

If you like the idea of a policy that builds cash value, can be borrowed against and is there for your whole life, call us at THINK Insurance & Financial Services in Pomona, CA to talk about a whole life policy. 

Why should you get commercial insurance in California?

The Pomona, CA area has continued to be a great place to run a company. Those that choose to start a business in this state will find there are a lot of great advantages that come, including benefiting from a good economy and a lot of support for small businesses. If you want to start a company here, protecting it as well as you can is important A great way to do this is by getting a full commercial insurance plan as it can support your business in several ways. 

Protection for all Business Assets

A reason that you should have commercial insurance is that it can protect all the assets owned by your company. If you are going to start a company, there will be assets that you need to purchase to help fuel growth. With commercial insurance, you can protect these assets from several risks including theft or damage. 

Insurance is Often Required

You should also get a commercial insurance plan as it could be a requirement. There are a lot of situations when a business owner will need to get commercial insurance coverage. If you have purchased assets with a business loan, leased office space, or raised money from investors, there is a chance you will have specific commercial insurance requirements that need to be met. Maintaining this coverage will keep you in good standing with all of these requirements. 

There are plenty of reasons to get a commercial insurance plan in the Pomona, CA area. If you would like to get this coverage here, you should speak with THINK Insurance & Financial Services. There are a lot of choices that need to be made when picking commercial coverage and THINK Insurance & Financial Services can make it easier for you by providing help and support through the process.