Categories Of People That Need Life Insurance

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It might be intimidating to plan the future, but it is important to be prepared. One of the best and most effective ways to prepare is to get life insurance that will provide financial security to the people you love after you are gone. In general, everyone can benefit from life insurance, but there are certain categories of people that need life insurance more than others. Irvington Insurance in  Indianapolis, IN is here to provide you with a guide. 

Categories of People That Need Life Insurance

Here is a list of the types of people who need to stay insured: 

  • Singles who plan to have a family in the future. The earlier you get life insurance, the less you will have to pay. In most cases, life insurance rates at 25 years old are 50% lower than the rates at the age of 35. 
  • Parents. People with children are the most obvious candidates for life insurance. If you are a parent, you want to make sure that your child or children will have financial security in case you pass away. 
  • Empty nesters. Even if your kids are adults already, and they have moved away from your home, you should still have life insurance. First of all, life insurance will create a legacy of money for your children and grandchildren. Second, you should also think about your spouse. If you have life insurance, you can be sure that your husband or wife will not suffer financially in case of your death. 

There are also other categories of people that may want to consider buying life insurance. However, as mentioned above, life insurance can benefit anyone because it is a very universal type of insurance. 

Contact Us Today

Are you thinking of buying life insurance? Are you looking for a perfect policy that will provide financial security to your loved ones and the peace of mind you need? Then, feel free to contact us at Irvington Insurance in  Indianapolis, IN- we specialize in different types of insurance, including life insurance. Give us a call to get more information and learn more about insurance options. 

5 Things You Didn’t Know About Home Insurance

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Most people think that home insurance is a one-size-fits-all kind of deal. But the truth is, there are many different types of home insurance policies out there, and each one is designed to meet a specific need. So, before you buy a policy, it’s important to understand what those needs are.  Irvington Insurance in Indianapolis, IN can help you navigate this important coverage.

Here are five things you didn’t know about home insurance:

1. It Does Not Cover Flooding

One of the most common misconceptions about home insurance is that it will cover damage caused by flooding. But the truth is that most standard policies exclude flood damage. Most also exclude damage caused by earthquakes. It’s therefore important to understand what your policy covers and what it doesn’t.

2. It’s Not Always Required

While most mortgage lenders require you to have home insurance, there are some situations where it’s not required. For instance, if you own your home outright, you’re not required to have a policy. However, even if you’re not required to have coverage, it’s still a good idea to have it.

3. You May Need Extra Coverage for Valuables

If you have any valuables in your home, such as jewelry, art, or collectibles, you may need to purchase additional coverage to insure them. Most standard policies have limits on the amount of coverage for valuables, so if you have items that are worth more than the limit, you’ll need to purchase an endorsement or a separate policy to cover them.

4. It Offers Liability Protection

Another thing to know about home insurance is that it offers liability protection. If someone is injured on your property or if you damage someone else’s property, your home insurance policy will help pay for the damages. Most policies have limits on the amount of liability coverage, so if you’re at risk for a large loss, you may want to purchase an umbrella policy to get additional protection.

5. Your Policy is Not Static

Finally, it’s important to know that your home insurance policy is not static. It will change as your needs change. For example, if you add a new addition to your home or get married and have children, you’ll need to update your policy to reflect those changes.

Get Home Insurance Today

Now that you know a little bit more about home insurance, it’s time to start shopping for a policy. We can help you find the right policy for your needs at Irvington Insurance in Indianapolis, IN. Contact us today for a free quote.

What to do if your car is totaled?

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Anyone in the metropolitan in the Indianapolis, IN area can turn to the team at Irvington Insurance for all of their insurance needs. Having a local agent by your side can be a great resource if you are ever involved in a car accident. Having a car totaled is never any fun, but it can be a lot less stressful when you have the right agent by your side. Contact our office today to learn more. 

First steps to take after your car is totaled 

The first and most important step to take after you’ve been in a serious accident is to get to safety. Once you are safe, you can call for roadside assistance and medical help. Don’t try to move your vehicle or direct traffic, just get yourself to a safe spot. Ask for a copy of the police report for your records.

Next, you will want to call your insurance carrier. They can direct you to the next steps to take. Be sure to find out which service providers are covered by your policy. If you are injured and seek medical attention, you will want to give your auto insurance information rather than your health insurance policy number. 

When it comes time to file a claim, it’s a lot easier to work with your local agent than to try to tackle the paperwork on your own. 

You can rely on us!

Irvington Insurance is here to help the residents in the greater Indianapolis, IN area with all of their insurance needs. If you want to know what to do after your car is totaled, just give us a call. We are proud to serve our community and look forward to working with you too. Give us a call or stop by today!

Life events that should trigger a look at your life insurance coverage

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Protecting your loved ones is a natural instinct that most people have. That is where life insurance comes in. It is something you can do to make sure, even if you aren’t there to provide for them, your family will be all right. At Irvington Insurance in Indianapolis IN, we provide expert guidance to our customers to personalize their life insurance. 

When To Review Life Insurance

A job change

If you get life insurance as part of your benefits package and it is the only life insurance you have, a change of employment could leave you without life insurance. This is the time to seriously think about whether or not you want to let your employer control your life insurance. 

Getting married

Even if your spouse is self-supporting, when you get married and combine your assets, it is a good time to think about life insurance. At the very least, it is time to change the beneficiary on any life insurance that you already have. 

Buying a home

When you buy a house it usually involves both of your incomes, to make the mortgage payments. You don’t want to leave your spouse or yourself struggling to make the payment with only one income. Both of you should have enough life insurance to pay off the mortgage. 

Having children

Having children changes everything. They are a commitment that can last well over 20 years and that requires enough life insurance to see them grow to adulthood even if it is without you. You may want enough for college and even to help them get a start in life.

Contact Us Today

Life insurance needs will change many times over your lifetime and you should be prepared for all of them. Contact Irvington Insurance if you are in the greater Indianapolis, IN community when it is time to review your life insurance coverage. 

How to Shop for Home Insurance

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When it comes to shopping for home insurance, most people just want to get it over with as quickly as possible. But if you take the time to learn a little bit about the process, you can save yourself a lot of money and grief in the long run. Irvington Insurance Group in Indianapolis, IN offers a few tips on how to shop for home insurance. 

How to Shop for Home Insurance

1. Know What You Need

This should be obvious, but you’d be surprised how many people get insurance without really knowing what they need. Remember, every home is different, so you’ll need to tailor your home insurance coverage to fit your situation. Make a list of the things you want to insure, such as your dwelling, personal belongings, and liability coverage.

2. Know What You Can Afford

Once you know what you need, you need to figure out what you can afford. Home insurance premiums can vary widely, so shopping around and comparing rates is important. Keep in mind that the cheapest policy isn’t always the best policy. Make sure you’re getting the coverage you need at a price you can afford.

3. Know the Risks

Home insurance covers not all risks, so it’s important to know what risks your policy does and does not cover. For example, most policies do not cover damage from floods, so you’ll need to purchase separate flood insurance if your home is in a flood-prone area.

4. Know the Claims Process

If you ever have to file a claim, you’ll be glad you took the time to learn about the process ahead of time. The last thing you want is to find out that your policy doesn’t cover the damage or that the claims process is more complicated than you thought. Be sure to ask your agent about the claims process and what you need to do to file a claim.

By following these tips, you can be sure that you’re getting the home insurance coverage you need at a price you can afford. Please don’t wait until it’s too late to learn about home insurance. Are you looking for home insurance in Indianapolis, IN? Irvington Insurance Group offers a variety of home insurance options to fit your needs. Give us a call today to learn more. 

 

Why basic auto insurance isn’t always the right choice

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Auto insurance is something that most states require you to have. If they don’t require insurance, they do require you to show financial responsibility. The mandate is for liability coverage. The amount varies from state to state. At Irvington Insurance in Indianapolis, IN it is our responsibility as independent insurance agents to make sure all of our customers have not only the mandated amount of auto insurance but the amount of auto insurance that is right for them.

You Need More Than The Basics

In Indiana, the basic amount of auto insurance that is required is 25/50/25. This is $25,000 for the first injury in an accident with $50,000 for total injuries and another $25,000 for property damage when you are responsible for an accident. 

If your vehicle is financed or leased, you will need to protect your vehicle as well as other drivers.  This means carrying two additional types of coverage, collision and comprehensive. 

Collision coverage protects your vehicle from collisions where you are responsible, whether with another vehicle or in a one-car collision with a stationary object. It also covers your vehicle if you are in an accident with an underinsured or uninsured driver or if you are the victim of a hit and run. 

Collision coverage protects your vehicle from a plethora of things you have no control over. You can’t control lightning from hitting a tree and sending a branch careening onto your vehicle. You can’t control floodwaters from damaging your vehicle. If your vehicle is stolen or vandalized, comprehensive coverage takes care of it. 

If you count on your vehicle to live your life, to go to work, run errands, etc, it is important to have your vehicle. Unless you have a lot of money, basic coverage just won’t cut it. 

Contact Irvington Insurance in Indianapolis, IN to discuss your auto insurance needs.

What are the benefits of life insurance when you are still alive?

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Life insurance is something that we know is an important thing to have. It is also something that can be confusing for a lot of people. The team at Irvington Insurance is here to help clear some of that confusion for our clients in the greater Indianapolis, IN area.

Benefits of life insurance while you are living

When people think of life insurance benefits, they typically think of the death benefit provided to their loved ones after they pass. While this is the main benefit for most families, other features can help you and your family while you are still alive.

Even with a term life insurance policy with only a death benefit, you will have the peace of mind that comes with knowing that your family is protected, no matter what may happen to you as the main financial provider.

People who choose a whole life policy, or another such lifetime option, can benefit from any cash accumulation during their lifetimes. Such funds can often be used for major life expenses like a house down payments, college tuition, or paying for a child’s wedding. 

Life insurance can be a lot more versatile than many people think. Why not learn more about these benefits today?

Find out more about the many benefits of life insurance today

Irvington Insurance is here to answer all of your insurance questions, including those pertaining to life insurance. If you are a resident in the greater Indianapolis, IN area, call us today! We will be more than happy to set up an appointment to review your life insurance options and help you determine which policy is suitable for your needs.

4 Questions to Ask Your Home Insurance Agent

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When you get home insurance, you would benefit from going to an independent agent. There are experts in home insurance at Irvington Insurance of the Indianapolis, IN area who you can talk to about your needs. Here are some of the top questions to ask your agent. 

Do I Have Adequate Personal Property Coverage? 

Talk to your agent to determine if you have enough personal property coverage in your policy. This is an instance when it would help to conduct a home inventory beforehand. They’ll be able to sort out the values and the amount of coverage you should have for all of it combined. 

Do I Qualify for Discounts? 

Many insurance companies have discounts in place. If you have this, it will lower your home insurance premium. You might need to have qualifying circumstances, such as smart home devices. 

Am I Eligible for Bundling My Insurance? 

You might decide that you’d like to bundle your insurance. The company you go through may allow you to bundle several types of policies, including your home insurance. Go over your options with your agent to see what would make the most sense. 

Is Flood Insurance Included in the Policy? 

There may be some coverage for natural disasters which could include flooding. If this isn’t the case, and you need an additional policy, it’s best that you know right from the start so that you can get the coverage that’s appropriate to the risk level where you live. 

Ask as many questions as you’d like about home insurance. Here at Irvington Insurance, we serve customers in the Indianapolis, IN area for home insurance needs and more. Reach out to us to learn more today.

Is Auto Insurance Required in Indiana?

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Irvington Insurance serves Indianapolis, IN and its surrounding area and has many insurance offerings that can help keep you and your family safe. From home insurance to auto, life, and commercial insurance, we have something for everyone.

In this post, we’ll be sharing the importance of auto insurance and how you can properly protect yourself and your family while on the roads in Indiana. 

The state of Indiana requires all drivers to carry liability insurance. Additionally, you must have uninsured and underinsured motorist coverage. The required amount of liability coverage is $25,000 per person, with $50,000 total per accident and $25,000 for property damage.

While this is a good start, it is the bare minimum protection you can have. If you have young drivers or a large family, you’ll want to ensure everyone on your policy is fully covered and protected. 

Driving in Indiana is the primary way residents here get around; from commuting to work, driving to school, running errands, and the like – having a vehicle is essential if you live in the Indianapolis, IN area. 

Because so many people drive in this area of the country, the risk involved in driving increases significantly. With more drivers on the road comes a higher risk of collision or accident. You may be a cautious and safe driver, but you can’t control who is on the road when you are and what they’re doing in the car. 

A full coverage auto insurance policy gives you peace of mind every time you get in the car. Knowing that if you do get into an accident, whether it’s your fault or not, your insurance plan will protect you financially is a huge relief. 

If you need auto insurance, contact Irvington Insurance today. We’re here to help!

How much life insurance is enough?

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Life insurance is all about taking care of the ones you love. You need to know that if you are not there to provide your income, your family will be able to survive and thrive. You can do this by having the right amount of life insurance. At Irvington Insurance in Indianapolis, IN,  we have been putting the needs of our customers first since 2007 and as independent insurance agents, we have more options to offer. 

Determining how much life insurance is enough is a complex formula. It is very personal and your figure won’t be the same as anyone else’s. It is customized for you, your family, and your needs. 

The first consideration is who is dependent on you? If the answer is no one, the response will be much different from someone who says,  my wife and five children or my elderly parents. What you need to consider is how much money you need to continue to support the people who depend on you. 

Coming up with the amount your dependents need per year and for how many years they will need it is the next thing you need to do. Your income plays a part in determining how much life insurance you need to support your loved ones. Financial experts suggest that if you have young children, you should have between seven and 10 years of income in life insurance. This is just a suggestion and it doesn’t take into account the fact that you may not be able to afford to have that amount of life insurance. 

Life insurance won’t be of any help if you allow the policy to lapse because of non-payment. You need to balance your life today with the life you want for your family in the future if you are not there. 

Contact Irvington Insurance in Indianapolis, IN with your questions about life insurance.