Types of Life Insurance

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The agents at Irvington Insurance, serving the Indianapolis, IN area, are touting the importance of life insurance and the many different types you can choose from. There are several types of life insurance policies that you can choose from depending on your situation.

Types of Life Insurance

Whole Life Insurance

This type of policy provides coverage for the entire life of the insured person if they keep up with the premiums. This is a popular type of life insurance since you can take cash from it while you are still alive to pay off debts ahead of time for your family.

Term Life Insurance

Term life insurance pays out a death benefit if the person dies during the term it is in effect. You can choose from a term of one year to 30 years or longer. You can renew the policy after the term expires, but it may cost more.

Universal Life Insurance

This type of life insurance policy is similar to whole life insurance, but it allows for more flexibility in premium payments and death benefit amounts. Also, the cash value of your policy can earn interest at a variable rate.

Variable Life Insurance

Variable life insurance allows you to invest your cash from it in things such as bonds, mutual funds, and stocks. This means the amount of the cash value of your policy will fluctuate.

Other Types of Life Insurance

Other types of life insurance you can choose from include survivorship life insurance for two people or the indexed universal life insurance policy that allows you to play the stock market with the cash from it.

We Are Here To Help!

To create the best life insurance policy for you and your loved ones in the Indianapolis, IN area, contact the life insurance agents at Irvington Insurance today!

Tips to prepare your home for a storm

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Irvington Insurance is here to assist with your home insurance needs and related concerns. In the Indianapolis, IN area, it’s important to make sure your home is prepared for storms. 

Here are a few tips from us to help you get ready:

1. Secure any outdoor furniture or items that could be blown away during a storm. Make sure to bring in anything that could become a dangerous projectile in high winds, such as patio umbrellas or planters.

2. Install a backup generator or uninterruptible power supply (UPS) so that you have power in case of an outage. This will be especially helpful if you rely on medical equipment with no battery backup.

3. Trim trees and shrubs around your house to reduce the risk of branches falling onto your roof or windows during a storm and damaging them.

4. Clear your gutters and downspouts of debris to ensure proper drainage away from your property should there be heavy rainfall during a storm. 
 
5. Stock up on supplies such as flashlights, batteries, water, and non-perishable food items so that you are prepared in case you lose power for an extended period of time due to the storm. 

6. Make sure your downspouts point away from your foundation so that water does not infiltrate your basement. 

Reach Out To Us

By following these tips, you can help make sure your home is ready for any incoming storms at any time of year! For more tips on how to get your house ready, or if you have any questions about your home insurance, auto insurance, or any other type of policy, give us at Irvington insurance a call today. We proudly serve the Indianapolis, IN area.

Liability Protection With Car Insurance

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As a driver in the Indianapolis area, you need to protect your vehicle and yourself with car insurance. Liability protection is essential to any car insurance policy, allowing you to handle any financial losses that may arise from an accident. Irvington Insurance is here to help you find the right coverage in Indianapolis, IN. 

What Is Liability Coverage? 

Liability coverage protects you if you are found at fault in an accident or if you cause damage to someone else’s property. It also covers medical expenses for any injuries that occur because of the accident. The amount of liability coverage needed depends on several factors, including the value of your vehicle and assets. Irvington Insurance can guide what kind of coverage would be best for your situation. 

Why Do I Need Liability Coverage? 

Liability coverage is essential because it can help protect you from paying out-of-pocket for damages resulting from an accident. Without this protection, any costs associated with an accident could be financially devastating. Having the right type and amount of liability coverage will give you peace of mind that you are adequately protected if something unexpected happens while driving on the roads around Indianapolis.  

Do I Need More Than Liability?

While liability coverage is the minimum required by law, it may not be enough to cover all potential damages in an accident. Consider additional protection, such as a collision and comprehensive policy. This coverage will protect you if your vehicle is damaged in an accident, regardless of who is at fault.

Get The Right Coverage For Your Needs

Drivers in Indianapolis, IN need reliable liability protection with their car insurance policies, and Irvington Insurance is here to help! If you’re looking for comprehensive auto insurance coverage tailored to meet your specific needs, contact us today!

Do Retirees Need Life Insurance?

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A major benefit that many employees receive during their tenure is life insurance. Many retirees wonder if life insurance is worth investing in once they leave their jobs. Irvington Insurance is here to help with all your pertinent questions. 

Why Retirees Need Life Insurance

Life insurance is not a legal requirement for Indianapolis, IN residents, but many choose to protect their descendants using this tool. Particular circumstances may vary, and older people often have spouses who remain dependent on them for the various streams of income due to them each month. Life insurance is one way to continue providing the essentials and is particularly important if a survivor’s pension or social security will decrease significantly or be taken away entirely.  

You may also have a grown child who has special needs, or you may have accumulated debt that will be difficult for your family to pay off. Student loans can remain outstanding, particularly if you went to college later in life.

Many retirees still have a mortgage on their homes, and other common obligations are for personal loans, car notes, or credit cards. Your Irvington Insurance representative can better assist you with the specifics of which product will best meet your needs. 

It’s possible that when you pass away, your loved ones could face estate taxes. Life insurance helps with this and can also assist with paying for burial costs. 

You may be in a situation where there isn’t sufficient equity in a home to divide among inheritors, and you wish to leave an inheritance to your surviving family members. Parents, especially those who had children later in life, may wish to leave something to help their offspring go to college or start a business. 

Contact Us Today

Serving residents in and around Indianapolis, IN, our team of insurance experts at Irvington Insurance can tailor an insurance package just for you. Reach out to us by stopping in the office, calling, or visiting us online. 

Do all people need to have a home insurance plan in Indiana?

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The Indianapolis, IN area can be a great place to own a home. This is a large city with a growing population and plenty of local amenities and job opportunities. When you are looking to buy a home in this area, it would be a good idea to also get insurance for the property.

There are various reasons why the typical property owner here will need to have a home insurance policy:

Receive Valuable Coverage

An important reason that anyone here will need to have a home insurance policy is so they can receive valuable coverage. When you are a property owner, you will have made a very significant investment and asset purchase. Along with this investment, you will want to know that you have support if you incur a loss due to a fire, vandalism, or other unexpected situation. If you have home insurance, it will provide you with coverage for your dwelling, and personal items, and even offer liability coverage. 

Comply with Requirements

It could also be a good idea to get home insurance so you are able to comply with any requirements that you have. When you buy a home, it is likely that you take out a mortgage as well. Further, you may choose to live in a home association. If you have done either of these things, you likely have a requirement to maintain insurance coverage. 

Contact Us Today

If you are in the Indianapolis, IN area, it would always be a good idea to get home insurance. The team with Irvington Insurance can provide any guidance that you need to create your ideal home insurance plan. When you start working with Irvington Insurance, you will receive personalized support so you fully understand all of your insurance options and needs as you build your next policy.

Do all people need to have a home insurance plan in Indiana?

Posted on by admin

The Indianapolis, IN area can be a great place to own a home. This is a large city with a growing population and plenty of local amenities and job opportunities. When you are looking to buy a home in this area, it would be a good idea to also get insurance for the property.

There are various reasons why the typical property owner here will need to have a home insurance policy:

Receive Valuable Coverage

An important reason that anyone here will need to have a home insurance policy is so they can receive valuable coverage. When you are a property owner, you will have made a very significant investment and asset purchase. Along with this investment, you will want to know that you have support if you incur a loss due to a fire, vandalism, or other unexpected situation. If you have home insurance, it will provide you with coverage for your dwelling, and personal items, and even offer liability coverage. 

Comply with Requirements

It could also be a good idea to get home insurance so you are able to comply with any requirements that you have. When you buy a home, it is likely that you take out a mortgage as well. Further, you may choose to live in a home association. If you have done either of these things, you likely have a requirement to maintain insurance coverage. 

Contact Us Today

If you are in the Indianapolis, IN area, it would always be a good idea to get home insurance. The team with Irvington Insurance can provide any guidance that you need to create your ideal home insurance plan. When you start working with Irvington Insurance, you will receive personalized support so you fully understand all of your insurance options and needs as you build your next policy.

Don’t Break the Law – Make Sure You Have Car Insurance

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Did you know you are breaking the law if you drive without car insurance? Only two states in the country do not require it. If you live in or around the Indianapolis, IN area, Irvington Insurance can provide the coverage you need.

There are three reasons to have car insurance:

  • To comply with the laws of your state
  • To satisfy lender qualifications
  • To protect your personal assets

All states require a driver to take financial responsibility for any damage they are responsible for in a traffic accident. Car insurance became a requirement in 1927, with Massachusetts becoming the first state to require it.

There are three types of coverage under a car insurance policy:

  • Liability coverage helps pay for the other driver’s expenses in the event you cause an accident. It does not cover the policyholders’ expenses, however. There are two types of liability coverage: bodily injury and property damage.
  • Collision coverage helps to pay for repairs or replacement of your car if damaged in an accident with another vehicle or object, such as a tree or fence. If you are financing or leasing your car, collision coverage is usually required by the lender.
  • Comprehensive coverage helps pay for repairs or replacement of your vehicle if it is stolen or damaged in an accident that does not involve another vehicle.

If you are still financing your vehicle, full coverage will provide more protection and will likely be required by the lender. If your vehicle is more than ten years old, has high mileage, or you are financially able to replace it, you may consider a liability-only policy.

Get Auto Insurance Today

If you live in the Indianapolis, IN area, contact the insurance professionals at Irvington Insurance today. They will provide you with a quote or answer any questions you may have. You will be glad you did.

Don’t Break the Law – Make Sure You Have Car Insurance

Posted on by admin

Did you know you are breaking the law if you drive without car insurance? Only two states in the country do not require it. If you live in or around the Indianapolis, IN area, Irvington Insurance can provide the coverage you need.

There are three reasons to have car insurance:

  • To comply with the laws of your state
  • To satisfy lender qualifications
  • To protect your personal assets

All states require a driver to take financial responsibility for any damage they are responsible for in a traffic accident. Car insurance became a requirement in 1927, with Massachusetts becoming the first state to require it.

There are three types of coverage under a car insurance policy:

  • Liability coverage helps pay for the other driver’s expenses in the event you cause an accident. It does not cover the policyholders’ expenses, however. There are two types of liability coverage: bodily injury and property damage.
  • Collision coverage helps to pay for repairs or replacement of your car if damaged in an accident with another vehicle or object, such as a tree or fence. If you are financing or leasing your car, collision coverage is usually required by the lender.
  • Comprehensive coverage helps pay for repairs or replacement of your vehicle if it is stolen or damaged in an accident that does not involve another vehicle.

If you are still financing your vehicle, full coverage will provide more protection and will likely be required by the lender. If your vehicle is more than ten years old, has high mileage, or you are financially able to replace it, you may consider a liability-only policy.

Get Auto Insurance Today

If you live in the Indianapolis, IN area, contact the insurance professionals at Irvington Insurance today. They will provide you with a quote or answer any questions you may have. You will be glad you did.

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.