Do I Need Home Insurance? If so, Why?

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Did you know that approximately 93% of American homeowners possess some home insurance? Although home insurance isn’t legally required in many states, unlike car insurance, your lender likely requires it if you have a mortgage. Let’s delve deeper into why. If you require assistance in Chandler, AZ, consider reaching out to San Marcos Insurance Group.

Why a Lender Requires Home Insurance

When you secure a mortgage, you’re essentially taking out a protected loan. Your property, purchased with the mortgage, serves as the collateral. Thus, in cases of delayed or missed loan payments, the lender can seize the property to settle the remaining balance. Any surplus amount after covering the debts, referred to as "excess proceeds," goes back to the property owner in Arizona.

Mortgages are generally less costly than credit cards, personal loans, and various other debt forms. This is largely because the loan is backed by a high-value property, reducing the lender’s risks. However, if a home gets damaged by a storm or fire, the property’s value diminishes, increasing the lender’s risks. Consequently, lenders necessitate that a home insurance policy safeguard the property.

The Consequences of Cancelling Home Insurance

Canceling or ceasing the payment for home insurance on a property can result in the mortgage lender procuring an insurance policy and billing the property owner. The terms of this insurance policy may not be beneficial from the property owner’s perspective. Therefore, working with an insurance agent to select a plan is often more advantageous. If you need help in Chandler, AZ, the San Marcos Insurance Group is ready to assist you.

Auto Insurance Because There Is No Such Thing as Being Too Safe

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The state of Arizona is renowned for its open highways and beautiful climate. Unfortunately, those two factors are also likely contributors to more than 100,000 accidents in Arizona each year. The good news is that there is also protection and help when we become involved in one of those accidents, which is why so many people from around Chandler, AZ, turn to the trusted and professional team at the San Marcos Insurance Group for all their auto insurance needs. Auto accidents will happen, but auto insurance can help.

There Is No Such Thing as Being Too Safe On the Road

Do you try to avoid rush hour traffic when you drive? Do you prefer to drive in the slow lane on the freeway? Do you always check your mirrors one (or three) too many times before changing lanes? That’s okay because there is no such thing as being too safe when you drive. After all, that is also why you want auto insurance, right? Accidents happen, but sometimes safety is as much about preparation as action, and insurance is how you plan ahead before getting behind the wheel. Why? Because you can never be too safe.

For All Your Auto Insurance Needs in Chandler

If you are looking for auto insurance and are a driver in or around the beautiful and scenic Chandler, AZ, area, then the friendly and professional team of agents at the San Marcos Insurance Group is here to help. Want to learn more about auto insurance, coverage options, or choosing the right deductible? Let us help you take the guesswork out of insurance and help you find the right auto insurance for you and your vehicle today at the San Marcos Insurance Group because we can never be too safe on the road.

What is the Difference Between an HMO and a PPO?

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Health insurance can be confusing for first-time buyers living in Chandler, AZ. Most insurers require you to choose between an HMO and a PPO, yet you may not understand what these terms mean or how they affect your access to medical care. San Marcos Insurance Group can help explain the differences and direct you toward a policy that meets your needs.

The Size of Your Healthcare Network

HMO is an acronym for Health Maintenance Organization, while PPO stands for Preferred Provider Organization. Choosing between the two isn’t complicated when you understand the differences. Both involve a network of healthcare providers. The main differences between those options are the size of the provider network, the flexibility of coverage, payments for in-network and out-of-network doctors, and monthly premium payments.

HMO plans generally have lower costs for patients. In exchange for the lower cost, you have a smaller network of providers and must stay within the network to get medical care. Most insurers also require you to select a primary care provider who can refer you to a specialist when needed. These plans only pay for care within the network except when you have an emergency.

PPO plans typically have higher monthly premiums in exchange for flexibility. You can see a provider outside the network, but co-pays are generally higher. Most don’t require you to choose a primary care provider. You can also see specialists at any time without a referral.

Which Plan is Better for Me?

An HMO may be the best option if you are on a tight budget. However, if you already have a doctor you like, you may prefer a PPO. The San Marcos Insurance Group staff serving Chandler, AZ, can help determine which health plan is best for you. Contact us today for an appointment.

Do You Need Commercial Insurance for Your Home Business?

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Running a business from your home in Chandler, AZ can reduce overhead, let you work from home, and keep startup costs low. It’s still important to make sure your business is insured, though. Here’s a look at whether your home business should be protected by commercial insurance.

Evaluating Your Homeowners Insurance Coverage

Homeowners insurance policies sometimes provide based coverage for home-based businesses. Not all policies do, however, and coverage can be quite limited when provided. It might apply to basic equipment like a printer, computer, minimal inventory, and some liability lawsuits. 

If your business only has basic needs and you can access coverage through homeowners insurance, additional commercial insurance might not be necessary. We at San Marcos Insurance Group can help you evaluate your homeowner’s policy coverage.

The Importance of Commercial Insurance

If you can’t get adequate coverage through a homeowners policy, you should probably get commercial insurance for your home business. 

Plan on purchasing commercial insurance if your homeowner’s policy doesn’t provide any coverage, if your business has major assets, or if major liabilities come with your work. You could also need commercial insurance if your business has any particular risks, such as product risk if you sell potentially dangerous products.

Ready to Safeguard Your Home Business?

If you’re operating a business from your home in Chandler, AZ, don’t wait to find out the hard way that your insurance coverage is inadequate. Contact us at San Marcos Insurance Group, and we’ll help you ensure your business is properly covered. We can assist with adequately covered homeowners insurance and many other types of policies.

Choosing Value Level in Auto Insurance

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When you insure your new-to-you vehicle in Chandler, AZ, you probably want the quickest option so you can hit the road. At San Marcos Insurance Group, we want to explain why it’s best to take the time to create a custom policy instead of choosing the state minimum package.

What State Minimum Insurance Covers

Arizona requires every driver to carry liability insurance to cover property damage and bodily injury. That coverage protects the other drivers on the road but does not damage your vehicle or cause injuries.

Choosing Full Coverage

When you purchase auto insurance with collision and comprehensive coverage, it protects you from financial loss if your vehicle is totaled or damaged. Collision coverage protects you from financial loss due to a single—or multi-vehicle accident.

Choosing Your Valuation Method

Choosing the correct valuation method ensures that your insurance covers you fully. Actual cash value won’t pay for a new car even if you totaled a new car because it uses the depreciated value of the vehicle. Fair market value improves the amount you get from a claim, but agreed-upon value provides the best payout. Stated value uses the value you state, but you must provide documentation to prove it. You choose which valuation method to use when you purchase your insurance policy. For stated value, you will also provide documentation of the vehicle’s value.

Contact Us Today

Call San Marcos Insurance Group in Chandler, AZ for a custom policy that fully protects you financially no matter what might happen to your vehicle. Let us help you design a policy that works for you!

Tips for making your home safer

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Safety in your home begins both inside and outside. Ensuring that you and your family not only feel safe and secure but are safe and secure is vital to your peace of mind. At San Marcos Insurance Group in Chandler, AZ, we provide the coverage you need to keep your home safe from all the financial dangers that exist. 

Tips for outdoor safety

Keeping your home safe from dangers on the outside starts with a home security system. You have no excuse these days for not having one since they are affordable and easy to install. Combined with motion detector lights that cover the entire exterior of your home, this provides the best option. Keeping the shrubbery away from the front of your home is another safety tip that eliminates hiding places. Use the locks that your home has on windows and doors. 

To keep the home safe for visitors, ensure that all walkways are in good repair and avoid trip hazards. 

Indoor safety tips

Safety is just as important inside your home. Falls are one of the most common causes of death and injuries in the home. This means clearing clutter from halls and stairs and making sure that you have adequate lighting. Don’t use throw rugs, which can slip, and keep any extension cords out of the way of foot traffic. 

Keep any poisons, including cleaning solutions, laundry detergent, and weed killers, out of reach of children and pets. Also, keep medication under lock and key and out of reach of curious children. 

When you are ready to change or discuss your home insurance, San Marcos Insurance Group in Chandler, AZ, can provide the service you require. As independent insurance agents, we can offer more choices and competitive rates. 

Determine When to Upgrade Your Health Insurance Policy

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Unexpected medical problems can be burdensome. One way to ensure that you receive the care you need is by determining when to upgrade your health insurance policy. Review the suggestions below. Then, contact an agent who serves Chandler, AZ.

Standard Procedures

Compile a list of the standard health procedures you need. Compare the information you record with your health insurance policy’s coverage. If any of the procedures aren’t currently covered by your policy, it may be a good time to upgrade. 

Recurring Issues

Consider the recurring health issues that have led to you needing to be seen by a medical professional. If these medical problems are likely to continue, consider how much coverage you currently have.

It may be in your best interest to upgrade your health insurance policy. Doing so will give you the coverage you need when it is time to be treated by a medical practitioner.

Medical Supplies

Review your insurance coverage if you often need medical supplies not covered by your existing insurance policy. Your policy will specify which types of supplies are covered by your insurance.

If you notice that many items you need aren’t listed, review some health insurance policies that cover the medical supplies you need.

Contact San Marcos Insurance Group

You deserve the coverage you need to remain healthy throughout your lifetime. Learning about insurance products will help you select the type of coverage that will benefit you most.

Contact an agent who serves San Marcos Insurance Group to set up an insurance consultation. Your agent will prepare your health insurance paperwork. They will also inform you about the type of coverage that you will be equipped with.

Do All Businesses Need Commercial Insurance?

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Understanding the Importance of Commercial Insurance in Chandler, AZ

Are you a business owner in Chandler, AZ, and are you questioning the necessity of commercial insurance for your venture? San Marcos Insurance Group acknowledges the significance of protecting your business interests and possesses the expertise to guide you through the complexities of commercial insurance.

Understanding Legal Requirements and Industry Standards

Although commercial insurance might not be legally required for all businesses in Chandler, AZ, certain industries or types of businesses may have specific legal stipulations or industry norms regarding insurance coverage. Understanding your legal obligations and industry standards is crucial to protecting your business assets and avoiding potential liabilities.

Ensure Protection Against Liability

One primary purpose of commercial insurance is to shield your business against liability claims arising from third-party injuries, property damage, or other unforeseen incidents. Without sufficient insurance coverage, your business could face significant financial risks in case of a lawsuit or liability claim.

Safeguard Your Property

Commercial insurance also provides protection for your business assets, such as buildings, equipment, inventory, and other valuables. In cases of fire, theft, vandalism, or natural disasters, commercial property insurance assists in covering the cost of repairs, replacements, and restoration. This allows your business to bounce back and resume operations swiftly.

Guarantee Financial Security and Peace of Mind

Investing in commercial insurance offers financial security and peace of mind for you and your stakeholders. With the proper insurance protection in place, you can focus on strategizing your business growth without worrying about unforeseen setbacks or financial losses.

Whether you are a small startup or a large corporation in Chandler, AZ, commercial insurance from San Marcos Insurance Group offers the protection and support your business requires. Contact us today to learn more about our comprehensive insurance solutions and secure your business’s future with confidence.

Do You Need an Auto Insurance Review?

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Regular Auto Insurance Reviews: Why They’re Crucial and When to Make Changes

As a responsible vehicle owner, your auto insurance is your last line of defense against unexpected events. Ensuring you, your passengers, and your vehicle always have adequate protection is paramount. Based in Chandler, AZ, the San Marcos Insurance Group can assist in reviewing your policy to ensure it’s up-to-date and offering optimal protection.

When to Consider Adjustments to Auto Insurance

Certain situations necessitate changes to your insurance coverage. For instance, if you’re adding or replacing vehicles in your household, you’ll need to reflect these changes on your policy. The coverage level may vary depending on factors such as the vehicle’s age. Moreover, changes in your household’s driver lineup, like a child earning their driver’s license or moving out, should prompt timely policy updates. This ensures that your policy accurately covers all regular drivers and vehicles.

What Triggers the Need for an Auto Insurance Review?

A good rule of thumb is to consider an insurance review at least once a year. However, major life events or notable changes to vehicles or drivers in your household also justify a review. At the San Marcos Insurance Group, we are ready to help residents of Chandler, AZ, navigate these changes. Our experienced team promotes informed decisions regarding auto insurance policies and coverage options. The protection of our clients and their vehicles is our priority. Contact us today.

What Should You Look For When Selecting a Home Insurance Company?

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Deciding on the Best Home Insurance Provider

Your home is more than just a piece of property; it’s a retreat where you and your family find comfort. Choosing the right home insurance company becomes an absolute necessity, especially when residing in the greater Chandler, AZ area. To ensure that your selection meets your specific needs, there are a few fundamental aspects you should deliberate.

Considering Reputation and Financial Stability

The provider’s reputation and stability are the first factors you should weigh before firming up your home insurance company’s decision. Consider insurance companies like San Marcos Insurance Group, recognized for reliability and financial strength. A sterling reputation is a significant indicator of the company’s dedication to quality service.

Tailored Coverage Options

The need for home insurance varies considerably from one homeowner to another. Seek insurance providers that offer a plethora of coverage options that can accommodate your personal circumstances. San Marcos Insurance Group of Chandler, AZ, provides customizable policies, effectively protecting your home and assets.

The Importance of Customer Service

Having a home insurance provider that offers exceptional customer service, especially in challenging times, is a significant advantage. The speed and quality of response can make all the difference when you require assistance.

Local Expertise and Accessibility

It’s wise to choose a home insurance provider familiar with the local risks and challenges. Companies like San Marcos Insurance Group, based in Chandler, AZ, are more likely to understand the specific requisites of local homeownership. Make a sound and secure home insurance company choice tailored to meet your unique needs. We at San Marcos Insurance Group are here to serve you. Reach out today.