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Are You Allowed To Have Multiple Life Insurance Policies?

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In everyday planning, it’s common for coverage needs to shift as life moves forward. A policy bought years ago may no longer match your responsibilities, and adding another policy can be an efficient way to juggle shifting needs without replacing something that you’re still needing. This approach can also help you shape coverage around specific goals rather than relying on a single policy to handle everything. Learn more from the professionals at Irvington Insurance, serving the Indianapolis, IN area.

Why People Carry More Than One Policy

Someone might start with a modest policy early in adulthood, then later take on a mortgage or start a family. Instead of cancelling the first policy, they add a second that better fits their current stage of life. Others combine different policy types, using term coverage to protect income during working years and a smaller permanent policy for long-term stability. Each policy can focus on a separate need, which gives families more predictable protection over time.

How Insurers Review Your Total Coverage

Even though you’re technically allowed to buy virtually as many policies as your heart desires—and budget allows—insurers are still interested in the lump sum amount you’re asking for. They compare your total coverage with your income, financial obligations, and dependents’ needs. This review isn’t meant to throttle your purchase. They just want to see that the total benefit is appropriate and consistent with what your household might reasonably require if you passed away. As long as the combined amount aligns with your financial picture, carrying more than one policy is usually straightforward.

If you choose to hold more than one policy, it helps to make sure each one plays a defined role. One might address debt, while another supports long-term income needs. Talk to us here at Irvington Insurance, serving Indianapolis, IN and surrounding areas, about your current coverage and future needs. We can help you decide whether adding a second policy would strengthen your overall plan.

Why Insure Your Home for 80% of Its Replacement Value?

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The Indiana Department of Insurance advises insuring your home for at least 80% of its replacement value. Eighty percent is the magic number that unlocks better coverage, and not just because 80% is greater than 79%. What happens when you buy a policy with 80% of your home’s replacement value to make your coverage change? Irvington Insurance wants homeowners in Indianapolis, IN, to understand the reason behind this recommendation.

Replacing Your Home Versus the Old Home’s Cash Value

If your home is heavily damaged and needs to be rebuilt, a policy that covers at least 80% of its replacement value will cover the replacement value minus the deductible. The replacement value is the amount it would take to replace the home, considering costs at that time.

If the policy covers less than 80% of the home’s value, the coverage you get is based on the cash value of the home. This is the actual value of the materials of the current house (not the replacement) after depreciation. It’s usually substantially less than what it would cost to rebuild your home. 

Given how costs of everything, including construction materials, have increased over the past few years, don’t risk being unable to rebuild your home. Speak with your insurance agent about determining the replacement value of your home and constructing a home insurance policy that covers at least 80% of that value.

If you’re looking for an insurance agent in Indianapolis, IN, contact Irvington Insurance. Find the right policy and premium payment to get solid coverage for your house now, before winter ice storms and blizzards put your home at risk.

Are You Prepared To Drive in Winter Weather?

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Colder months of the year can turn Indianapolis into an icy winter wonderland. Despite the beauty of snowy landscapes, serious driving hazards can increase when ice, sleet, and snow make their annual appearance.

Winter Driving Hazards in Indianapolis

Freezing rain, sleet, and snow make roads slicker than normal. Slipping and sliding on snow-covered roads can lead to collisions with other vehicles, property, animals, or stationary objects. Even experienced local drivers can fall victim to unseen patches of black ice that can send vehicles veering off the road.

Ways To Protect Yourself When Driving in Winter Weather

Beware of icy patches on bridges and overpasses

Winter driving often means navigating ice patches on bridges and overpasses. Slow down before you get on a bridge or overpass, and maintain a slow-steady speed as you cross. Avoid braking suddenly and increase your following distance. Also, be ready to dodge disabled vehicles on the road as their occupants seek roadside assistance for frozen locks, dead batteries, and running out of gas after sitting in bumper-to-bumper winter traffic.

Keep your tires inflated

Check your tires to ensure they are properly inflated for traveling on snowy roads. Consider investing in winter tires for better traction on slick roadways.

Avoid tailgating

Maintaining a safe distance when following on ice and snow-covered roads can be a lifesaver during severe winter weather. Also, reduce your speed to avoid collisions with other vehicles, animals, and objects.

Maintain adequate auto insurance

Maintaining state minimum auto insurance will safeguard other drivers on the road if you are in an accident. However, a liability-only policy won’t cover your vehicle repairs or other related costs. Consider upgrading your insurance to include comprehensive or collision protection for at-fault accidents, car theft, natural disasters, vandalism, collisions with uninsured motorists, and animal collisions.

Contact Irvington Insurance in Indianapolis, IN, to learn more about your auto insurance options.

How Career Changes in Indianapolis Impact Life Insurance Needs

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Career moves are exciting: new title, new salary, new direction. But there’s one thing many Indianapolis professionals overlook during the transition: your life insurance needs to move with you.

Job changes don’t just affect your paycheck; they can shift your risk profile and leave you unprotected. Whether you’re joining a startup, switching industries, or negotiating better benefits, it’s crucial to ensure your life insurance evolves alongside your career.

When Employer Coverage Isn’t Enough (or Disappears Entirely)

One common mistake is assuming your employer-provided life insurance will follow you to your next job. It won’t. Most group life insurance policies end the moment your employment does. Even if your coverage remains active, it’s often minimal and not designed to protect your family fully. It’s a gesture, not a comprehensive plan.

New Income, New Dependents, New Risk

Climbing the career ladder is a great achievement, but it often comes with increased responsibilities. A mortgage, a growing family, or co-signed student loans can add financial pressure. If you’re earning more now, that’s fantastic, but it also means your family would lose more if you weren’t around.

Your life insurance should evolve with your career—it’s not just an afterthought. At Irvington Insurance, we help Indianapolis, IN, professionals align their coverage with key life moments, including job changes, so you’re not leaving your family exposed while celebrating new success.

Don’t Let a Career Win Create a Coverage Gap

Career growth should add security, not erode it. If you haven’t reviewed your life insurance since your last job change, you may be more vulnerable than you think.

At Irvington Insurance, we work with individuals across Indianapolis, IN, to build life insurance strategies that adapt to their goals. Whether it’s a new job, promotion, or freelance leap, we’ll ensure your protection matches your path.

Ready to update your life insurance to match your next move? Contact Irvington Insurance today. We’ll help you keep your momentum protected.

Why every homeowner needs to have and protect a home inventory

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Every homeowner hopes they will never have to file a claim with their home insurance company, and the residents of Indianapolis, IN, are no exception. However, if you ever need to file a claim, there are three essential things to have: a reliable home insurance policy, a comprehensive home inventory, and an independent insurance agent who will support you every step of the way. In Indianapolis, IN, that agent is Irvington Insurance. Since 2007, we have been dedicated to providing personalized service to our customers, always prioritizing their needs.

What Is a Home Inventory?

A home inventory is a detailed list of all the belongings in your home. From the attic to the basement and garage, you likely own far more items than you realize. Think about everything stored in your drawers, cupboards, and closets. If a disaster were to strike your home, would you be able to recall and describe every item in each room?

Why Do You Need a Home Inventory?

When filing a claim, your insurance company will accept a home inventory as proof of your belongings. It’s crucial to be as thorough as possible, including photos, serial numbers, and model numbers whenever available. This documentation can make the claims process smoother and ensure you receive proper compensation.

Where Should You Store Your Home Inventory?

Your home is not the safest place to store your home inventory. If your home suffers a total loss, your inventory could be destroyed as well. A safe deposit box is an excellent option for physical copies, and storing a digital copy in the cloud ensures you can access it anytime, anywhere.

At Irvington Insurance in Indianapolis, IN, we work for you. From the moment we help you select a home insurance policy to assisting with claims and answering your questions, we are here to support you every step of the way.

Do You Always Need to File a Police Report After Auto Accident?

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Car accident? Your next call should likely be to the police. Even if no one is injured, calling the authorities and obtaining an official report can save you from potential headaches down the road. Skipping this step could backfire later, whether with your insurance claim or local legal requirements. Here’s what your insurance representative at Irvington Insurance, serving Indianapolis, IN, wants you to know.

When You’re Required to File

By law, you must report an accident to the police if someone is injured, there’s a fatality, or property damage is likely over $1,000. While this sounds straightforward, it’s often difficult to estimate the cost of damage on the spot. What appears to be a minor fender bender could conceal costly issues, such as damaged sensors or frame problems, that can run into the thousands. Filing a report protects you if the other driver later claims the damage was worse or tries to pin the blame on you.

Why Insurers Prefer Police Reports

Many insurance companies prefer having an official police report, and it’s easy to see why. A report provides an unbiased account of the incident, making it easier to determine who is responsible for the fault.

Without a report, you could find yourself in a messy back-and-forth if the other driver changes their story. That official documentation can be the difference between a smooth claims process and a drawn-out hassle.

Even Minor Accidents Can Escalate

Imagine lightly tapping bumpers in a parking lot. No one is hurt, you exchange information, and both parties go their separate ways. But what happens if, two days later, the other driver claims back pain or “hidden damage” and demands compensation?

A quick police report taken at the scene would document exactly what happened and help protect you from paying for issues that weren’t there.

While Indiana law doesn’t require a report for every minor scrape, it’s often smarter to call it in. A brief stop with local officers can save you significant trouble later. For more information, contact Irvington Insurance, serving Indianapolis, IN.

Indiana’s Burial Assistance Program

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Financial decisions can become more challenging as time goes on, and one of the most important choices you’ll make is whether to buy life insurance. If you live near Indianapolis, IN, our team at Irvington Insurance is here to help you understand your options and choose the right policy for your needs. Since 2007, we’ve been assisting clients like you with their insurance needs.

Indiana’s Burial Assistance Program

When you pass away, one of the challenges your family may face is covering burial expenses. According to the Indiana Family and Social Services Administration, the State of Indiana has established the Burial Assistance Program to help eligible individuals with these costs. This program is available to specific categories of Medicaid clients, as well as low-income and indigent individuals who are recommended by their township trustees.

If you believe you qualify for burial assistance, you can contact a funeral home. The funeral home will determine if the deceased was eligible for benefits before meeting with family members. According to the Indiana Family and Social Services Administration, funeral homes must submit applications for these benefits within 90 days of the date of death. Payments are sent directly to the funeral home, not to the family of the deceased.

Call Us for Your Appointment Today

As an independent insurance agency, we offer a wide array of insurance options to meet your needs. Our team at Irvington Insurance is proud to be a member of the Irvington Business Association. If you live in the Indianapolis, IN, area, you can rely on us for excellent insurance advice and customer service. Call us today to schedule an appointment, and let’s discuss your insurance needs.

Why You Should Update Your Home Insurance When Remodeling

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Completing a home addition or remodeling project is one of the most thrilling aspects of homeownership. These changes truly transform a house into your personal space. However, amidst all the excitement, it’s easy to overlook the impact of a remodeling project on your home insurance. It’s crucial to inform your insurance agent about your renovation plans before the work begins. If you reside in or near Indianapolis, IN, our team at Irvington Insurance is here to help you secure the insurance coverage you need to safeguard your family and home.

Inform Your Agent Before Starting a Remodel

While most home insurance policies offer limited protection during the remodeling or renovation process, it’s wise to have more than just basic coverage. The presence of workers, equipment, and the process of dismantling and rebuilding parts of your home increase the likelihood of accidents. Many insurance companies require you to notify them before the remodeling work begins. Failure to do so can affect your coverage.

Adding umbrella coverage or expanding your home policy can help protect against the hazards and injury risks associated with remodeling. Moreover, if the completed project adds square footage, new appliances, cabinets, fixtures, or enhances your home’s value in any way, updating your policy ensures your renovated home is fully insured.

Remodeling projects sometimes include additions like a pool or hot tub that increase risks, and these need to be added to your policy. Conversely, updating your home’s electrical, plumbing, or HVAC systems can reduce your premiums. Contact your agent to ensure you have the appropriate coverage during and after your remodeling project.

Partnering with Irvington Insurance

Your home is a significant investment and requires adequate protection. Let our team at Irvington Insurance, serving the Indianapolis, IN community, assist you. Call us today at (317) 322-1000 to discuss your insurance options.

How Long Do Car Accidents or Tickets Stay on Your Record?

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When it comes to car insurance, your driving record plays a significant role in determining your premiums. But how long do accidents or tickets stay on your record, and what impact do they have on your insurance rates? Located in Indianapolis, IN, Irvington Insurance can help you navigate these issues and ensure you have the coverage you need to stay protected in the event of an accident.

Car Accidents and Your Driving Record

In most states, car accidents typically stay on your record for three to five years, depending on the severity and fault. If you’re found at fault for the accident, it can lead to an increase in your insurance premiums. Insurance companies see at-fault accidents as a risk, which can raise your rates during your policy renewal.

Traffic Tickets and Their Impact

The duration a ticket stays on your record depends on the type of violation and your state laws. Minor violations like speeding tickets may remain on your record for three to five years, while more severe offenses, such as DUI or reckless driving, can stay for much longer, up to 10 years or more.

How This Affects Your Car Insurance Rates

Having accidents or tickets on your record can result in higher premiums, as insurers view you as a higher risk. However, as time passes and these incidents age off your record, your rates may decrease.

Get the Auto Insurance Coverage You Need

It’s normal to be concerned about how a car accident or ticket could affect your driving record. To learn how to stay protected from auto accidents, contact Irvington Insurance in Indianapolis, IN.

ADB Vs. Life Settlement: What You Need to Know

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Life insurance is most effective when someone is financially stable and when passing is sudden or manageable. However, sometimes, this is not the case. Some may develop a terminal illness that requires a great deal of money to treat, money that they don’t have. The good news? If you need funds now to help you with treatment, there are ways to leverage your life insurance to access financial support. Two of your options are accelerated death benefits (ABD) and life settlements. But what are these, and what do you need to know in advance? Let’s compare and contrast these two options, so you have a better understanding of these solutions. If you’re looking to secure your future and the future of your loved ones, trust us here at Irvington Insurance in Indianapolis, IN to help you find proper life insurance coverage.

Comparing ABD and Life Settlement

An accelerated death benefit is a rider that you can get with your life insurance. Should you find yourself in need of funds when you have a terminal illness, you can take money out of your life insurance policy to pay for treatment. But what happens if you don’t get this? There is one way to navigate high costs, and that’s via a life settlement. Rather than tapping into a feature of your life insurance, a life settlement is when you sell your life insurance policy to a third party for less than the total death benefits. This is generally a last resort and should only be pursued if you absolutely need to do it.

Prepare for the Future with Irvington Insurance

Are you looking to ensure you and others are prepared for your passing in the future? Let us help you find the right life insurance policy. Compare quotes with the team here at Irvington Insurance in Indianapolis, IN, today!