A Simple Guide to Home Insurance for First-time Buyers

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After all the excitement of trying to find the perfect first home, you may be exhausted as you get ready to go to your closing. Home insurance may be the last thing you want to spend time thinking about. Finding the perfect home insurance is essential to making sure you won’t get any nasty surprises when you make a claim. Given that 1 in 5 homeowners makes a claim every year, you will likely make one at some point. In Indianapolis, IN, Irvington Insurance is a locally owned independent agency that gives our customers more choices. 

Don’t choose just by price.

While the price is an important consideration in any insurance purchase, it shouldn’t be the only one. You don’t want to overpay, but you also want to make sure the policy you choose has the coverage you need. 

Choose your deductible carefully.

Your policy’s deductible is what you pay out of pocket on each claim you file. Even if you have more than one in a year. With a higher deductible, you may pay less, but it may not be a good value. You need to be able to pay the deductible if you file a claim. 

What type of content coverage to choose

Content coverage comes in two types, replacement cost and actual cash value. When you file a claim, the payout is very different. With actual cash value, you will receive the amount worth today, taking depreciation into account. A 10-year-old sofa is not worth the same as a new one. With replacement cost, you will receive the amount a 10-year-old sofa would cost you to replace today. 

Exclusions

Your home policy doesn’t cover everything. Floods, earthquakes, sinkholes, and sewer back-up are common exclusions. 

Contact Irvington Insurance in Indianapolis, IN for all your home insurance needs. 

 

Auto Insurance Variables Indiana Drivers Should Consider While Researching Policies

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Irvington Insurance serves the Indianapolis, IN community by offering residents multiple types of insurance coverage. We strive to help our clients find the policies they need to protect what matters most. For over 70 years, we have enjoyed serving the community.

Auto Insurance Variables

Auto insurance is a valuable asset as you travel around Indianapolis, IN, and beyond. You are protected if your vehicle suffers damages. You are also protected if a fire or natural disaster arises. Liability coverage protects you if your vehicle causes damage to someone else’s property. You are also protected if another person riding in your vehicle suffers injuries due to an accident. To ensure that you find the right policy for your needs, think about these variables. Your driving record is important. If you have a clean driving record, you will have a different type of policy than someone who has many tickets or a previous accident on their driving record.

Consider the amount of driving that you do regularly. If you are putting a lot of miles on your vehicle, that increases the likelihood of being involved in an accident. You will need a different type of policy if you don’t drive your vehicle regularly.

The place where you store your vehicle is also important. If you don’t have a garage, try to find a storage facility to place your vehicle. This helps ensure that your vehicle is safe when you aren’t driving it. You can add coverage to your garage or the storage facility to protect your vehicle if a fire or inclement weather damages the structure.

Irvington Insurance Will Help You Stay Safe On The Road

Visit our website to learn more information about auto insurance.

How a Life Insurance Policy Helps You Save For the Future

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Your financial advisor may not have mentioned a valuable method for saving for your future that also protects the fiscal health of your family in the event of your death. They typically suggest an individual retirement account (IRA), investment accounts, and money market accounts. Irvington Insurance wants to suggest a life insurance policy with a cash value account.

Purchasing a life insurance policy with a cash value account component lets you save for the future while providing a death benefit to your family. This type of whole life policy costs a little more than term life insurance. Still, your premium covers both the life insurance policy with a death benefit for your beneficiaries and a cash value savings account. The savings account may be parlayed into an investment account that links to a stock index, typically the S&P 500.

Many advantages exist to a policy with a cash-value account. First, you can borrow against the account if needed to obtain a mortgage for your Indianapolis, IN home. 

Another huge benefit is that you typically avoid paying taxes on the money as the account builds. Like an IRA, you can deposit your premium pre-tax as a paycheck deduction. This lets you save without paying taxes on the deposits. You only pay taxes on the money when you withdraw it or when you take out a loan using it for collateral. You can withdraw from the account once it reaches a specific level, but you cannot do so without incurring a penalty.

Contact Irvington Insurance serving the Indianapolis IN area for more information on this life insurance that also lets you save money for your future. Call us today.

How Often Should You Review Your Home Insurance?

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Your home insurance is a crucial part of protecting your largest asset and the things that matter most to you. At Irvington Insurance, we can help all of our Indianapolis, IN area customers cover their homes with the right types of policies for their needs. Whether you have a small starter home or something much larger, there are some great ways to protect it and keep it safe from harm. A good insurance policy is a significant part of that and can go a long way toward giving you peace of mind and helping you get back to living life instead of worrying.

Your homeowner’s policy should have periodic reviews, though, because your circumstances and situation may change over time. You could add to your house, remodel it, or bring in new belongings that would need additional coverage. No matter what kinds of changes your home and life undergo, you can sleep better at night when you know you have a good insurance policy protecting you. Generally, it’s a good idea to review your home policy every time it renews, which is typically once per year. Your agent will often ask about the policy at that time, but if they don’t, you can still ask for a review to make sure nothing needs to be changed.

Reach out to us today at Irvington Insurance, and let us help you with your home insurance policy. If you’re in the Indianapolis, IN area, we can provide you with the information you need to make an informed decision about your home’s coverage. Our knowledgeable agents will be happy to answer your questions, so you can feel good about the type and level of coverage you choose when you review your policy and make sure it’s the right one for your current needs.

Is basic auto insurance ever enough

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Choosing your auto insurance coverage is a big deal. Making sure you have the right coverage is vital. At the same time, you don’t want to have more coverage than you need. Coming up with the right balance is not easy, and having an insurance agent you trust can make all the difference. At Irvington Insurance Indianapolis, IN, we are locally owned and have been offering customers our expertise for 13 years. 

You are required in the state of Indiana to carry liability insurance. You are also required to have uninsured and underinsured motorist coverage unless you decline it in writing. Liability coverage required is $25,000 per person with $50,000 total per accident and $25,000 for property damage. Uninsured and underinsured coverage matches liability. These are the basic requirement but are they adequate for you? 

The first thing to consider is the amount of liability coverage. If you own little or nothing, then basic auto insurance is fine, but this basic coverage won’t provide the level of protection you need if you have significant assets. Exactly how much liability coverage is right for you is something to discuss with your insurance agent. 

People count on their vehicles to go about their normal daily routines. If you could not easily repair or replace your vehicle with your own money, then having collision and comprehensive offers you needed coverage. 

Collision coverage repairs or replaces your vehicle if you are the responsible party in an accident. Comprehensive covers hazards that are beyond your control like storms, vandalism, and theft. It also includes glass coverage, which is one coverage almost everyone uses at one time or another. 

Your independent agent is the person to discuss your auto insurance needs with. In Indianapolis, IN, Irvington Insurance is the place to go. Give us a call or stop by our office for a no-obligation quote.

Three key resources when you’re purchasing a life insurance policy

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Life insurance is a crucial investment to make to support your family in the future. As such, you need to research carefully to know that you’re choosing the right life insurance option in Indianapolis, IN. At Irvington Insurance, we’re here to help you meet your life insurance needs.

The following are three key resources you can use when you’re purchasing a life insurance policy. 

Your accountant

If you have an accountant, it’s a good idea to consult your accountant about your life insurance options. Your accountant helps you to manage your finances. Life insurance is an essential financial product. 

Make sure you ask for your accountant’s opinion on life insurance matters. Your accountant understands your financial situation thoroughly. This means that your accountant might be able to provide you with valuable insights regarding your life insurance needs and resources. 

Representatives from insurance providers

Don’t hesitate to ask questions of insurance providers from whom you are considering buying life insurance. It’s vital that you feel comfortable asking questions to representatives from your insurance company.

Asking insurance provider representatives questions to help you understand life insurance options doesn’t just make you more informed. It also gives you a significant opportunity to evaluate the customer service of individual providers before deciding which one to purchase from. 

The Internet

The Internet provides plenty of information on life insurance. You can use the Internet to conduct research to learn about how life insurance works and what types of life insurance are available. You can also use the Internet to get quotes on policies. 

We’re here to answer any questions you have about life insurance in Indianapolis, IN. Contact us at Irvington Insurance to inquire about our life insurance policy options. 

5 Ways to Increase Home Safety

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Home safety is an important topic. By taking measures to increase the safety and security of your home, you may qualify for a discount on your home insurance. If you’re considering upgrading your Indianapolis, IN home to make it a safer environment, talk to your Irvington Insurance agent to see what upgrades will affect your home coverage. Here are just a few measures you can take to make your home a safer, more secure environment.

Declutter

Clutter is unsightly, reduces living space, and increases your risk of accidents. By decluttering your home, you can make it a safer environment.

Upgrade Window & Door Locks

Upgrading your window and door locks will make it more difficult for intruders to break into your property. Install deadbolt locks on exterior doors for extra protection against burglars and trespassers.

Install Security System

Install a security system to include alarm, sensors, and video cameras around your property. A security system will deter thieves and enhance the safety of your family. It can also qualify you for a discount on your home insurance.

Install Smoke & Carbon Monoxide Detectors

If your Indianapolis, IN home doesn’t already have them, install smoke detectors in your kitchen and hallways close to your bedrooms to alert you of the dangers of fire. A carbon monoxide detector will protect you against carbon monoxide poisoning. These life-saving measures will make your home a safer place to live.

Lock Up Medications

If you have children in your home, lock up your medications in a safe location that’s well out of their reach. You don’t want your little ones getting their hands on pills that can endanger their lives.

You can’t go wrong by boosting the safety and security of your home environment. To learn more about home safety or home insurance options, contact us at Irvington Insurance.

What auto insurance is required in Indiana

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Indiana has 12,000 miles of federal and state roads and 68,000 miles of county roads. You could take a lifetime to drive on all of them. As a driver in this state, you will need to have liability insurance on your vehicle. Indiana is a 25/50/10 state. What this means is you need to carry a minimum of $25,000 for each person injured in an accident up to a maximum of $50,000 and at least $10,000 for property damage. This is a bare minimum, and given the cost of vehicles today, you can quickly see how $10,000 would not cover the value of the car, leaving you paying the remainder out of pocket. At Irvington Insurance in Indianapolis, IN, we understand auto insurance, and we make sure that our clients have all the coverage they need. 

While the state does not require you to carry more than the basic amount of auto insurance, if you have an auto loan or a lease, you will have to carry both collision and comprehensive insurance. If you have assets, the minimum liability coverage is not enough to keep you protected. So, what insurance isn’t required should you carry? 

Collision coverage protects your vehicle and will repair or replace it for you if you are the at-fault person in an accident. If you are like most people, being without a car isn’t an option, and if your vehicle is relatively new, the replacement value is thousands of dollars. Collision insurance will also provide you with a rental car while your vehicle is being repaired. 

Comprehensive insurance protects you from damage to your vehicle from things other than another vehicle. It also covers you for theft and vandalism. 

Knowing the insurance required in Indiana will help you to understand what coverage is right for you. Stop by the office or give us a call at Irvington Insurance in Indianapolis, IN to make an appointment and get a free quote. 

What types of life insurance are available?

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Anyone that lives in the Indianapolis, IN area will have a variety of different personal insurance needs. One form of insurance that a lot of people in this area should consider getting is life insurance. When you have a quality life insurance policy in place, it will ensure that you are able to provide financial protection for your family’s future if you were to pass away. There are two primary types of life insurance to consider.

Whole Life Insurance

One popular form of life insurance to consider getting is whole life insurance. With a whole life insurance policy, you are going to receive the coverage for the rest of your life as long as you continue to stay current with payments. With this form of coverage, your premium payments will be higher than with other options, but they will also accumulate in an account that you can liquidate. This helps whole life insurance to be a good investment alternative as well. 

Term Life Insurance

When you are looking for the most amount of coverage for a more affordable monthly price, a term life insurance policy is a great option. When you get a term life insurance policy, you are going to receive coverage for a predetermined period that can range to 25 years or more. While there are not investment benefits with this form of coverage, it does tend to provide more affordable monthly payments.

It is crucial to consider the benefits of both life insurance options. To help with this, those that are in the Indianapolis, IN area should call Irvington Insurance to discuss. The team at Irvington Insurance can help someone in this area to better understand the benefits of life insurance and the options that they have to ensure you find the right policy. 

Home Insurance Coverage Options for Indiana Homeowners

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As an Indianapolis, IN homeowner, you can reap a variety of benefits from having homeowners insurance. There are a variety of coverage options available. Different factors are considered to determine your homeowner’s insurance rate, including your location, age, and construction of your home, home liability limits, and a variety of other factors. Here is what you need to know about home insurance coverage options for Indiana residents provided by Irvington Insurance.

Home Insurance Coverage Options for Indiana Homeowners

Indiana residents have a variety of options when it comes to homeowners insurance coverage, including:

  • Dwelling
  • Contents
  • Personal liability
  • Medical Payments to others
  • Ordinance or law insurance

Dwelling – Dwelling coverage is for your home’s structure. Items included in this coverage are built-in appliances and wall-to-wall carpet.

Contents – Contents coverage is insurance that covers the belongings that are not built into your home or attached to your home, including clothing, furniture, and similar items.

Personal Liability – Personal liability is the coverage that is used if a guest sustains an injury while in your home. This type of coverage also provides coverage if someone damages your belongings.

Medical Payments to Others – Homeowners insurance provides coverage for medical payments to other people when medical or funeral expenses occur. Medical payments are also covered if someone is injured on your property.

Ordinance or Law Insurance – Ordinance or law insurance coverage can help you rebuild your home, so it’s up-to-date on current building codes after a complete covered loss.

Here at Irvington Insurance, we provide insurance coverage for home, life, and auto. We are dedicated to providing our customers with quality customer service and insurance. Contact us to learn more about the insurance solutions we provide. We look forward to hearing from you.