How Often Do I Need To Renew My Home Insurance Policy?

Posted on May 24, 2022May 24, 2022 by admin

Huntington, WV is one of the best places in the state to own a home, and this is why as a resident, you should always protect your investment with a home insurance policy. Ensure that you always renew your policy on time so that your home is always protected. You are likely wondering – how often should you renew your home insurance policy? Partners Insurance & Financial Services Inc offers you this guide to decide.

How Often Do I Need To Renew My Home Insurance Policy?

1. Home insurance policy renewal best practices

Home insurance policies typically last for one year (12 months). Therefore, it’s good practice to renew your policy every 12 months. Your insurance provider will likely send you a renewal statement several weeks before renewal dates. Many insurers will automatically renew your policy if you opt to keep paying your bill.

At Partners Insurance & Financial Services Inc., we recommend that you renew your home policy even before the 12 months lapses under the following special circumstances;

Your home decreases or increases in value
You remodel your home or any part of it
You add an extension to your home
You install a robust anti-theft system
You install a class-leading fire mitigation system
You reroof your home
You cut down trees around your home
You purchased expensive jewelry

2. How do I renew my home insurance?

Step 1. Check if your rates have changed: Your rates might have gone up or down depending on factors like inflation and property value depreciation.
Step 2: Update your policy as needed: The best time to make changes to your home insurance policy is when you are renewing it. Remember to ask for discounts where applicable.
Step 3. Review the changes to your coverage: Confirm that the changes to your home policy, whether made by the insurer or by you, are okay for you.

Do you need excellent home insurance in Huntington, WV? Welcome to Partners Insurance & Financial Services Inc.; we will help you get the best home insurance policy.

Auto Insurance Do’s and Don’ts

Posted on April 29, 2022May 13, 2022 by admin

Getting the right auto insurance coverage is crucial to budget and financial stability. At Partners Insurance & Financial Services Inc. serving Huntington, WV and the surrounding areas, we can help you make the best insurance choices. Keep reading to learn more about auto insurance do’s and don’ts that you should keep in mind.

Auto Insurance Do’s and Don’ts

Do Shop Around

The best way to always get a great deal on car insurance is to shop around often. You will want to compare quotes when you are about to buy another vehicle or when you are replacing your vehicle.

You will also want to compare quotes when you add a driver to your policy. Be sure to only add drivers you trust who have a good driving record.

If you are about to add teen drivers to your policy, you will also want to compare rates. Another good time to shop for quotes is if you are about to get married.

Even if none of these apply to you, then you will at least want to shop around once a year to make sure you are getting a good deal.

Don’t Let Coverage Lapse

If you allow your auto insurance to lapse, it can cause a great deal of problems for you financially and legally. In some states, you will not be able to keep a vehicle properly registered if the insurance lapses. If you are in an accident while the insurance has lapsed, you will be held liable for many expenses and could face legal consequences.

If you would like to learn more about auto insurance, or any of the other services that we provide, please contact us at Partners Insurance & Financial Services Inc. serving Huntington, WV and the surrounding areas.

Life Insurance: One of Your Most Important Investments

Posted on March 30, 2022April 14, 2022 by admin

Investments are such an important part of your financial life. When most people think of investments, though, they are thinking of savings accounts and retirement funds. Your life insurance is also an important part of your investment strategy. At Partners Insurance & Financial Services Inc. serving Huntington, WV and the surrounding areas, we want to help you better understand this important investment. Keep reading to learn more.

How Is Life Insurance An Investment?

Life insurance can be considered an investment you are making for your family, not necessarily for yourself. When you pass away, your life insurance policy will be there to ensure that your family is financially stable and can accomplish the financial goals you established for them.

Certain life insurance policies can also be used as a type of savings or investment account which could be tapped into for financial needs before you pass away.

How Much Life Insurance Do I Need?

The amount of life insurance you choose to purchase will be highly dependent on your particular circumstances and your family’s goals. Some families only wish to have enough life insurance in place to cover funeral expenses, while other families expect life insurance to replace or exceed the deceased person’s income. You will need to discuss with your family what intentions you all have for the future.

An insurance agent can also sit down with you and your family to discuss this important aspect of your policy.

Are There Different Types of Life Insurance?

Yes, there are different types of policies that accomplish different goals. You will be able to discuss the different types of coverage with an agent.

If you would like to learn more about life insurance, please contact us at Partners Insurance & Financial Services Inc, serving Huntington, WV and the surrounding areas.

What Type of Commercial Insurance Do I Need in WV

Posted on February 15, 2022February 4, 2022 by admin

Owning a small business is not for the faint heart and you’ll want to do everything possible to protect your livelihood. Consequently, understanding the minimum requirements for commercial insurance in West Virginia while also knowing what optional coverages may best safeguard your business are of high importance.

In West Virginia, state law requires that any business with one or more employees – regardless of whether they are full-time or part-time – carry workers’ compensation insurance. Workers’ compensation insurance helps pay the costs associated with an illness or injury that an employee develops while at their place of work. If you employ independent contractors then you are not required to provide workers’ compensation insurance. Additionally, if your business owns any vehicles then they must be covered under a commercial auto insurance policy with at least minimum liability coverage. While not required, if you ask your employees to use their personal vehicles for work related tasks such as deliveries you’ll want to ensure that a hired and non-owned auto insurance policy is taken on their vehicles as personal auto policies typically exclude business use.

Although not required, additional coverage that you may want to consider for your business includes cyber liability insurance and professional liability insurance. Cyber liability insurance protects your businesses from the costs associated with lawsuits and recovery from a data breach or hack. Also known as errors and omissions insurance, professional liability insurance protects West Virginia businesses that provide professional advice or services and covers lawsuits associated with work performance.

For more information on commercial insurance, contact Partners Insurance & Financial Services Inc in Huntington, WV. Our friendly and professional team can answer any questions and help you customize the perfect policy for your business.

Why Every Homeowner Needs Home Insurance

Posted on January 24, 2022February 4, 2022 by admin

If you own a home, it is most likely required by your lender that you get and keep a home insurance policy. However, even in cases where it isn’t required, no homeowner should be without this important insurance. Home insurance policies offer several different types of coverage that are each important for protecting your finances. If you need home insurance, give us a call at Partners Insurance & Financial Services Inc. in Huntington, WV.

House Protection

Your home represents a large investment, and your home insurance can help to protect that investment. There are many risks that houses can face, including disasters, accidents and calamities. If your home gets damaged due to one of the covered incidents, your home insurance can pay for the repairs that you will need. This protects you from having to come up with those funds on your own. If the home is destroyed, the policy can even pay for its rebuilding.

Belongings Protection

Another important aspect of a home insurance policy is protection for your belongings that are inside your house. This protection pays for items to be repaired or replaced after a covered incident either damages or ruins them. This coverage protects you from having to start again with nothing in the event of a major incident. It is important to have this coverage so that you won’t have to come up with the money to replace your items if they should become necessary.

Get Your Home Insurance Policy

With the important coverage included in a home policy, your finances can be well-protected in case the worst should happen. If you own a home, or you are in the process of buying one and need insurance coverage, give us a call today at Partners Insurance & Financial Services Inc. in Huntington, WV to find out more.

What Are The Most Common Myths About Auto Insurance?

Posted on December 13, 2021December 13, 2021 by admin

If you are a car owner, you probably understand how important auto insurance is. It is one of the best ways to protect you as a driver, your car, and your passengers. However, many people do not know the insurance details, which makes misconceptions about auto insurance appear. Here is a list of the most common car insurance myths that should be debunked:

Red Cars Are Associated With Higher Insurance Premiums

Many people mistakenly believe that insurance companies charge red car owners more for auto insurance. However, the truth is that insurance agents do not care about the color of your car, and there is no link between your car color and the cost of auto insurance. There are other things that have an impact on the cost of your insurance, such as a car model for example.

Traffic Tickets Automatically Increase The Cost Of Insurance

Obviously that getting a traffic ticket is not a good thing. However, if your violation is minor and your driving record remains clean, the cost of your auto insurance will probably stay the same. However, if you keep getting traffic tickets, your insurance will most likely get more expensive.

Your Credit Does Not Affect The Cost Of Your Insurance

Unfortunately, it does. Insurance companies are allowed to use credit scores to set insurance rates because people with higher credit scores are less likely to get involved in car accidents. Therefore, if your credit score is not good enough, you may have to pay more for your auto insurance.

Partners Insurance & Financial Services Inc. Serving Huntington WV – We Care For You And Your Safety

If you live in Huntington, WV or any other nearby town, and you are looking for car insurance to protect your vehicle and yourself, feel free to contact Partners Insurance & Financial Services Inc. Our insurance agents who have years of professional experience will help you find a perfect insurance plan. Do not hesitate to give us a call or visit our website for more information.

What Is Final Expense Life Insurance?

Posted on November 29, 2021December 13, 2021 by admin

If you’re looking for life insurance, your search may have led you to the term "Final Expense Life Insurance." But what does this type of coverage actually involve?

It might seem like an unusual term at first glance, but it’s fairly simple and straightforward. It refers to life insurance that pays out when you die. These policies are typically lower in cost than other life insurance options because the payout is limited to covering your funeral costs and other associated costs like having the body transferred or embalming expenses, but it can also be used for any outstanding debts you might have had at the time of death.

What are the Benefits of Having Final Expense Insurance?

There are many benefits to having this type of coverage. For one, it provides peace of mind that your loved ones will be able to cover funeral costs without having to worry about draining their savings or taking out a loan.

In addition, if you have an outstanding debt such as a mortgage or credit card at the time of death, final expense life insurance will help ensure that it is paid off and not passed on to the next of kin or collection agencies.

When should you consider Final Expense Life Insurance?

While it might not be the first thing to come to mind when looking for financial protection, final expense life insurance is something we recommend every senior have. The benefits are extensive, and the costs are minimal when considering that they’re designed to cover an expense no one wants to think about in advance.

Final Expense life insurance is an affordable option for covering funeral costs and outstanding debt. It’s something every senior should consider, whether it be for their own peace of mind or to ensure that their loved ones are cared for in the event of death. If you’d like more information on this type of coverage in Huntington, WV, don’t hesitate to contact Partners Insurance & Financial Services Inc. We’re also happy to answer any other life insurance questions you might have, so feel free to reach out to us today.

4 Areas Covered by Commercial Insurance

Posted on October 15, 2021October 4, 2021 by admin

Commercial insurance has to be your best friend if you want your business to thrive now and for years to come. Business insurance protects you against various risks, gives you a competitive edge, and boosts the credibility of your business.

Still not convinced about why you need commercial insurance for your Huntington, WV business? Here are the four areas covered by commercial insurance from Partners Insurance & Financial Services Inc.

Liability protection

Suppose a third party (like a customer) sustains physical harm either after consuming your product or slipping within your premises? Your business insurance would be responsible for medical costs and even legal charges when sued. Besides, commercial insurance bails your business when accused of advertisement injury, including copyright infringements and libel claims.

Workers protection

Some small business owners believe that they don’t need this coverage as the chances of injuries happening in the workplace are slim. Others believe that even if accidents happen, the impact would be small, and they would simply handle the ensuing costs out of pocket.

Unfortunately, this flawed thinking could grind your business to a halt. One significant employee injury could wipe out your company finances as you try to pay for employee medical bills and astronomical legal suits.

Property coverage

Commercial insurance protects your business building and its contents from various perils, including fire, theft, vandalism, and certain natural disasters. This way, you don’t have to start from level zero when perils knock on your doors.

Cybercrimes protection

As internet penetration soars, cybercriminals are busy thinking of how to infiltrate your IT infrastructure. And when successful, hackers leave a trail of damages, including data breaches. For this reason, you need cyber liability insurance to cover your business against online malicious activities.

Buy commercial insurance today!

Of course, commercial insurance covers more than the above areas. If you are in Huntington, WV, and looking for commercial insurance, please consider Partners Insurance & Financial Services Inc. for all your business insurance solutions.

Why you should have home insurance in Huntington, WV

Posted on September 30, 2021October 4, 2021 by admin

When it comes to homeownership, there are plenty of risks that can make you very glad you have home insurance. In most cases, especially if you have recently purchased a home, you won’t have the option of not having home insurance. Your lender will require that you protect the investment they have made in you. At Partners Insurance & Financial Services Inc. in Huntington, WV we are an independent insurance agency, which means our first loyalty is to our customers, not to one carrier.

Even in as friendly a place as Huntington WV, bad things can happen and if a bad thing happens to your home, it is reassuring to know you have the right home insurance coverage to provide the protection you need.

Home insurance protects your physical building so that if your home is damaged by heavy winds or fire, for example, you will be able to file a claim and be provided with the funds that you need to repair your home.

If your home is burglarized, your contents coverage will allow you to replace the items that were lost minus the deductible. Your personal property is covered even if you are away from home and an item is lost or stolen. Items lost from many types of home damage are also covered, but if you have expensive items, you may want to check your policy limits and purchase a rider to give you complete protection.

Liability coverage protects your assets in the event that you are involved in legal action against you. Not only can it help to pay for a judgment, but it can also help pay for the legal help you may need to defend yourself.

Contact Partners Insurance & Financial Services Inc. in Huntington, WV with all your home insurance questions and needs.

Do You Have Enough Auto Insurance Coverage?

Posted on August 16, 2021August 9, 2021 by admin

You faithfully renew your auto insurance in Huntington, WV, but have you ever asked whether it’s enough? If an unfortunate event were to occur today, would your car insurance protect you optimally? While renewing your auto insurance, you need to determine whether you are carrying adequate coverage to avoid overpaying or underpaying your premiums.

Not sure where to start? In Partners Insurance & Financial Services Inc., you have a trusted and knowledgeable insurance agent to guide you in matters regarding auto insurance. And today, we help you determine whether you have adequate car insurance. Let’s dive in.

Meet state-required minimums

At the very least, ensure you carry state-required auto insurance to avoid non-compliance penalties and fines. For West Virginia, you need a “25/50/25” auto insurance policy. This means your car insurance should have the below liability coverages:

Bodily injury coverage of at least $25,000 per person and twice the amount per accident
Property damage coverage of a minimum of $25,000 per accident

Remember, liability coverages cover losses you cause to other persons. It never covers you or your property. With that in mind, you need other coverages for optimal protection.

How much liability coverage should you have?

While meeting the state minimums is essential, most drivers opt for broader limits for maximum coverage. At a bare minimum, we recommend motorists to buy bodily injury liability of at least $300,000 per accident. However, if you have high-value properties to protect, you should aim for higher limits.

How much PIP should I have?

This question depends on whether you have a medical insurance plan since PIP coverage covers a percentage of your medical costs. However, PIP is more versatile than your medical insurance plan since it covers partial loss of income and funeral expenses on top of medical costs.

At Partners Insurance & Financial Services Inc., we recommend you purchase PIP coverage of between $50,000 and $100,000 to cover you optimally.

Auto insurance in Huntington, WV

Still not sure how much auto insurance you should have? Don’t fret. Instead, get in touch with Partners Insurance & Financial Services Inc. for more information.

Insurance Blog

Partners Insurance & Financial Services, Inc.

Get a Quote, Instantly!

How Often Do I Need To Renew My Home Insurance Policy?

How Often Do I Need To Renew My Home Insurance Policy?

1. Home insurance policy renewal best practices

2. How do I renew my home insurance?

Auto Insurance Do’s and Don’ts

Auto Insurance Do’s and Don’ts

Do Shop Around

Don’t Let Coverage Lapse

Life Insurance: One of Your Most Important Investments

How Is Life Insurance An Investment?

How Much Life Insurance Do I Need?

Are There Different Types of Life Insurance?

What Type of Commercial Insurance Do I Need in WV

Why Every Homeowner Needs Home Insurance

What Are The Most Common Myths About Auto Insurance?

Red Cars Are Associated With Higher Insurance Premiums

Traffic Tickets Automatically Increase The Cost Of Insurance

Your Credit Does Not Affect The Cost Of Your Insurance

Partners Insurance & Financial Services Inc. Serving Huntington WV – We Care For You And Your Safety

What Is Final Expense Life Insurance?

What are the Benefits of Having Final Expense Insurance?

When should you consider Final Expense Life Insurance?

4 Areas Covered by Commercial Insurance

Why you should have home insurance in Huntington, WV

Do You Have Enough Auto Insurance Coverage?

Archives

Categories

Insurance Blog

We're Here to Help

Servicing States