The Problems Casued by Underestimating Home Replacement Cost

It is a good idea to have home insurance that covers the replacement cost for rebuilding a home if it is entirely destroyed. However, insurance industry studies find that the majority of homes are either not insured or under-insured. Here are some of the reasons why this happens and how homeowners can avoid this problem.

Lack of a Regular Home Insurance Review

Taking good care of a home requires annual maintenance. This maintenance should include having an annual review of the insurance coverage with the help of your agent at BLC Insurance, serving Urbandale, IA and the nearby areas. This free review will help homeowners take a good look at the current insurance coverage that they have in order to make sure it is adequate for their needs.

Undervaluation of Replacement Costs

Home construction costs that include labor and materials have a tendency to increase over time. If a home experiences a catastrophic loss, this may be caused by a natural disaster that affects a wide area. Because of the sudden increased demand for repair and reconstruction of homes, the price of getting this work done is automatically higher than normal. Using a replacement cost amount that does not include this factor of increased prices in the aftermath of a natural disaster, means that the coverage will be inadequate.

Not Protecting Personal Property

Home insurance may not be sufficient to cover the value of personal property in the home. Review any personal property limits under your home insurance policy to make sure there is adequate coverage for items in the home. If you have rare and valuable items in your home that exceed the amounts of these limits, it is a good idea to get additional insurance coverage for them.

Check with your agent at BLC Insurance in Urbandale, IA to discuss home insurance and to get an insurance review to make sure your coverage is adequate.

Comprehensive Guide to Calculate Your Insurance Premium Cost.

The insurance premium cost is the fee charged by a Urbandale, IA insurance company for coverage. In many cases, the applicant has no idea of how the money charged is calculated or even how the compensation value is determined. Well, were are going to have a guide as to how the insurance cost is estimated in Urbandale, IA. As much as the insurance company assigns a premium cost, the value determined by a wide range of factors tailored to you and where you live. However, the risk factor is of vital importance when it comes to working out what to pay. Usually, different companies offer different insurance rates, and it’s advisable as an applicant to look around for a fair price.

Premium calculation
The insurance money levied is dependent on statistical data existing on one’s lifestyle, health, age or the area of residence. The actuaries undergo an underwriting process to obtain data that is analyzed statistically to arrive at a reasonable figure. They predict the likelihood of an applicant to claim for compensation based on the data they collect. A higher probability means a higher value. BLC Insurance actuaries compile data of mortality and sickness which is then used to foretell the expected loss in case of death or sickness occurrence. Consequently, a premium is assigned or charged to the client based on the data analysis.

Meanwhile, material and property insurance follows a slightly different insurance determination method since it is much easier to assign a monetary value to a property. The premium is determined using a generalized formula of where price times utilization same premium( P *U = $). Although this equation is applied to all insurance companies, other expenses such as insurance premium tax( IPT) constitute part of your insurance premium cost. For a comprehensive understanding of how your insurance premium cost is calculated, it is advisable to consult  BLC Insurance company for a further guideline.
 

How much auto insurance do you need in Iowa?

The state of Iowa leads the way in education. Would you also believe that the Hawkeye State is also number one when it comes to insurance? You may have a variety of policies to choose from in Urbandale IA, which could lead to confusion. Which plan is best for your lifestyle? How much auto insurance do you need to be in compliance with state law? BLC Insurance can help!

Iowa Auto Insurance Requirements

The Hawkeye State has very specific stipulations surrounding indemnity coverage for automobiles. You must have an assurance plan to legally operate a vehicle in the region, and such plan must meet the following requirements:

  • $20,000 minimum coverage per person;
  • $40,000 minimum coverage per accident;
  • $15,000 minimum coverage for property damage. 

Iowa may also require residents operating vehicles in the state to have uninsured motorist coverage that pays at least $20,000 per person injured in an auto accident while providing a minimum of $40,000 overall coverage per incident. It is possible for Urbandale, IA drivers to reject uninsured motorist coverage as long as they return a form stating their desire to go without such plan to their indemnity provider. 

Should You Go Without Uninsured Motorist Coverage?

While every situation is different, it is generally a good idea to have an auto insurance policy that pays for all accident scenarios that could occur on the road. You run the risk of having to pay a substantial amount for repairs and bodily injury out of your pocket if someone rear-ends you and lacks the proper insurance to pay for the incident.

Still, it is best to discuss matters of indemnity coverage with an experienced agent who can thoroughly explain policy limits and other factors pertaining to auto coverage. Let a professional from BLC Insurance find the plan that works best for you today!

Hitting the Road for Summer? Check Your Motorcycle Insurance

When you own a motorcycle, the appeal of hitting the road is never greater than during summer. A summer road trip promises to be an adventure to remember. The right motorcycle insurance policy from BLC Insurance, Urbandale, IA, will ensure you’re well protected during your travels. Before hitting the road this summer, consider protecting yourself with the following coverage:

Liability

Motorcycle riding comes with its share of risks, especially on open roads. You never know if or when an accident will happen. Liability insurance covers injuries and property damage to others in case you cause an accident. Minimum liability coverage is mandatory in most states. For long-distance road trips, you’d do well to get more than just the minimum. Good liability protection reduces the risk of being sued for damages in the event you’re found at fault of a serious accident.

Uninsured Motorist

On the road, you’ll encounter all kinds of drivers. Unfortunately, some may have inadequate or no insurance coverage. Uninsured motorist insurance covers your medical expenses and damage to your motorcycle if you’re hit by an uninsured driver.

Collision and Comprehensive Coverage

If your bike is fairly new or you’ve added new accessories to enhance comfort on the road, you should get coverage to protect your investment. Collision coverage will help pay for damages to your bike if you’re in an accident. If you opt for comprehensive coverage, your insurer will compensate you for damages caused by bad weather, theft, and vandalism. The last thing you want is to get stuck with a huge repair bill on a vacation road trip. For stress-free travels, be sure your motorcycle insurance offers you the road trip protection you need.  

To learn more about motorcycle insurance options, coverage and costs, talk to an agent from BLC Insurance, Urbandale, IA. 

Boat Insurance Coverage Options

Owning a boat is one way of escaping from the daily busy schedules and enjoying a calming day of fishing out on the water with friends. Unfortunately, accidents happen and you need to protect yourself well in the event of an accident. With a Boat Owners Insurance policy from BLC Insurance, you can have fun and relax knowing that your boat is properly insured.

We offer a wide range of coverage options for boat owners in Urbandale, IA to ensure that their boats and passengers are safe. Our boat insurance coverage options are customized for marine vehicles such as bass boats, sailboats, performance boats, yachts, jet skis, and Wave Runners.

What does a boat insurance policy cover?

Our boat insurance policy covers your personal watercraft or boat against potential loss due to theft, vandalism, collision with other boats, or objects and any damage that is caused by uninsured or underinsured users. The boat insurance also extends to cover other equipment attached to your boats such as canopies, fuel tanks, anchors, and life preservers. BLC insurance also offers coverage for personal property and fishing equipment.

Additionally, Liability Boat Insurance will help you pay for legal costs and medical expenses in case you are at fault in an accident. The available coverage options include medical payments, passenger liability, damage to another boat or property and bodily injury payments. We also offer other additional coverage options such as Roadside Assistance when transporting your boat and On-Water Towing so as to make your boating experience easy and affordable.

If boating is your passion, protect the dream for years to come by choosing the right insurance policy. Discuss with one of our local insurance specialists in Urbandale, IA about the available boat insurance coverage options and how to get the right coverage with Boat Owners Insurance that will protect you and your boat.

 

 

Umbrella Insurance for Average Joes

BLC Insurance wants all their Urbandale IA neighbors to enjoy the fruits of their labor. The right combination of insurance policies is an important part of protecting your accumulated wealth. In combination with your personal and business policies, an umbrella policy ensures you always have the funds to rebuild, repair, or replace real goods. It also helps you meet legal challenges with confidence. You don’t have to have a lot of assets or control multimillion dollar companies to benefit from this coverage. What is umbrella insurance and how can it help everyday people live a more financially stable life?

  • Umbrella insurance is a secondary policy. When your primary policy is triggered, the umbrella policy will pay additional funds for the same event. For example, your home is lost to a catastrophic fire. Your homeowner’s policy doesn’t pay enough to completely rebuild your home. If you have an umbrella policy, the additional cash could help you restore your living space and pay for temporary living expenses due to the accident.
  • Our modern lives are built around cars. If your vehicle is destroyed in an accident, your auto insurance probably won’t pay out enough to replace it with a similar make and model. An umbrella policy gives you funds you can use to replace your ruined vehicle and secure a rental while you wait for the mechanics to complete their work.
  • Critical illness insurance helps workers provide for their families and loved ones if they fall ill or get injured and can’t work. These payments help cover food, housing, and other everyday living expenses. However, the payout may not be enough to cover medical payments for surgery, therapy, and prescriptions that help restore functions or enhance the patient’s quality of life. An additional umbrella policy ensures you and your family will always have enough, no matter what.

Want to know more about how umbrella policies can work for you? Contact BLC Insurance in Urbandale IA for more information.

Common Health Insurance Terms Defined

Health insurance is an important part of your financial plan. It protects you and your family every day. However, many of the terms that are included in a policy can be confusing. The team at BLC Insurance works with residents in the Urbandale IA area and understands the needs you have. They work to ensure that their clients are not only adequate covered but also understand any unfamiliar terms or language that the policy contains.   

Here are a few of the terms you will most likely encounter:

Premium: This is the amount that you will pay on the policy each term. Term periods can be defined as monthly, quarterly or semi-annually. The premium amount is determined by the type of policy that you and your agent select.

Deductible: This is the amount that you will be responsible for before the policy begins to pay. When you have paid out the deductible amount within a year, the health insurance policy will cover any additional charges for that year.  

Co-pay: This is a fixed amount defined by the health insurance policy that you will be responsible for certain health services. For instance, if the policy states that you have a $10 co-pay for a doctor’s visit, then you will pay $10 when you visit your physician. The policy will pay the remainder. These co-pays can vary from policy to policy.

The team at BLC Insurance wants all of their clients in the Urbandale IA area to have the best health insurance for their needs. Every day, they work hard to bring the best available plans to their clients and present a range of options. They work hard for you! Call them today and get the health coverage that you need!

First Responders and Life Planning

First responders are clearly in the line of business where risk is just an everyday factor on the job. Where people run out, first responders are the ones running back into the building. And that increases the probability of potentially something going wrong, regardless of how much training and precautions are taken to avoid more risk than necessary. The simple fact is, emergencies in Urbandale, IA are unpredictable and things can and do oftentimes go off plan.

No surprise then, first responders need to consider life planning for their loved ones as a necessary part of the job. Given how much higher the risk of injury or worse is due to the nature of the job, it only makes sense from a life planning perspective to ensure one’s family is taken care of financially regardless of what kind of a day it may turn out to be.

The experts at BLC Insurance have worked with Urbandale, IA first responders in all types of industries and areas of service. They fully understand what it takes to do the role and the need to protect one’s family so as not to worry about them when on the job. Their knowledge and experience are ideal for matching first responders up with the policy packages that best protect their families and life planning while also being manageable and easy to understand. There’s no reason for clients to have to deal with complexities and be wondering on the job if everything will be taken care of correctly. BLC Insurance is ready to help; give them a call and be able to focus on your important work without worrying.

Essential Facts about Home Insurance in Urbandale, IA

Home insurance is one of the most responsible steps that a new homeowner can take. Not only does it cover damages from theft or disasters, but it also covers your legal liability if someone is injured on your property. Of course, not all home insurance policies are created equal and have different prices. If you need help shopping around for insurance in  Urbandale, IA, BLC Insurance can help you out.

You Are Not Obliged To Have It

In a legal sense, you do not have to be covered by home insurance. If you have a mortgage, your lender may require it.

Insurance Rates May Depend on Neighborhood.

Not only will a neighborhood’s reputation affect property value but also your insurance premium. If you live in an area with extremely high crime, it is likely to cost your more. If you are further away from emergency services, that can also be a factor.

Covered Damages May Be Determined in the Policy

Generalization should never be made on what is covered in a home insurance policy. The company can decide to cover or not cover within the policy, including certain conditions of coverage. This is why policies should be read and negotiated.

Flood Damage is Usually Not Included

This is a foolish assumption by many with home insurance. The coverage of flood damage will require a separate policy.

Home insurance is a smart decision to get but it has a lot of variance for every individual. You must assess the number of assets and the cost to determine if a plan works for you. If you need help shopping around for a policy in the Urbandale, IA area, BLC Insurance may be able to help you out.

What You Don’t Know About Motorcycle Insurance

Most people know that you need insurance when driving a motor vehicle. But do you know the specifics surrounding motorcycle insurance and what you should know as a motorcycle rider? For motorcycle riders in the Urbandale, IA area, BLC Insurance can answer any questions you have about motorcycle insurance.

Here are a few things you don’t know about motorcycle insurance:

1. If You Are in An Accident, You’ll Need Proof Financial Responsibility

If you are a motorcycle rider and are in an accident in Iowa, you’ll need to show proof of financial responsibility. Unless you are able to pay for all damages involved in the accident, that means showing proof of motorcycle insurance. Let’s look at the minimum requirement for proving financial responsibility…

2. There A Minimum Damage Liability Requirements for Bodily Injury

Depending on whether it’s just you riding or you have a passenger, there are minimum coverage amounts for liability insurance. If it’s only you, then you need a minimum of $20,000 in bodily injury coverage. For you and a passenger, then you’ll need $40,000 in bodily injury coverage. 

3. A Minimum Amount of Property Damage Coverage Is Also Required

To cover property damage in case of an accident, you’ll need a minimum of $15,000 in coverage. 

4. Many Riders Purchase Insurance Above the Minimum Requirements

Although these are the minimum required amounts for motorcycle insurance, many riders choose to purchase insurance coverage for amounts above the minimums. Many also choose to get insurance for other situations as well, such as personal injury protection, collision, comprehensive physical damage, and uninsured motorist coverage. 

Those in the market for motorcycle insurance can contact BLC Insurance, serving the Urbandale, IA area. Call them at (515)243-4289 today!