What Is Hazard Insurance, And How Does It Protect Me?

Hazard insurance is a common term often used to describe the risks to your home and property that are covered by your homeowners’ insurance policy. Typically covered hazards include damage to your property, home or personal property caused by fire, smoke, vandalism, theft, and other hazards.  

I Have Homeowners Insurance. Do I Need Hazard Insurance, too?

According to the Consumer Financial Protection Bureau (CFPB), Homeowners insurance is often referred to as "hazard insurance.” Your standard homeowners’ insurance policy typically protects you from specific covered perils and events. While you aren’t required to carry homeowners/hazard insurance if you own your home, it is the best way to protect your property and assets, and most lenders require proof of homeowners insurance coverage if you have a mortgage.

What Does Hazard Insurance Cover?

Your 1 Source Insurance homeowners insurance policy provides protection against three different types of covered hazards: damage to or loss of your dwelling, personal property, and other structures. This insurance coverage can help pay for covered damage to your home, personal property, or other structures from hazards such as fire, smoke, hail, wind, vandalism, theft, snow damage to your roof, indoor water leaks, power surges, falling objects, and even civil unrest or riots. However, not every hazard is covered in a typical Atlanta, GA homeowners insurance policy. For example, earthquakes and floods are not covered and require a separate policy for coverage. Read your homeowners’ insurance policy or call your agent to determine what risks or hazards are covered by your specific policy.  

For more information about finding a hazard insurance plan that’s tailored to your unique needs in the Atlanta, GA area, give the insurance experts at 1 Source Insurance a call today. Our helpful agents can answer any of your insurance questions and ensure you get the coverage you need!

Five Reasons Your Business Needs Commercial Insurance Coverage

So, you’ve been considering starting a business in Atlanta, GA but aren’t exactly sure how commercial insurance works. Do you need to call 1 Source Insurance to get immediate coverage, or is that something you don’t need to be concerned about yet? The first question you need to consider is what your risks are.

Five Reasons To Get Commercial Insurance Coverage

There are many benefits to protecting your business with a commercial insurance policy. Here’s the top five:

1. One Incident

For many businesses, just one event or incident can be all it takes to lose the business. Liability for just one event can quickly deplete your financial capabilities.

2. Uninsured Party

If another person causes damage to your business, you can cross your fingers that they have adequate insurance. If they don’t, your commercial policy serves as a backup.

3. Accidents Happen

No matter how many precautions your business takes, an accident can still occur. Commercial insurance provides protection against any losses, damages, and liability litigation that result.

4. Control

You probably can’t control and monitor your business 24 hours a day, 365 days a year. Commercial insurance will stand guard over your business when you can’t.

5. Unforeseen Events

Life is unpredictable. A completely random, inexplicable event could happen that deals a devastating blow to your company.

Do you have questions about whether your business needs commercial insurance coverage? When you call 1 Source Insurance, we’ll let you know what kind of coverage suits your needs, whether you’re planning to open an haute cuisine eatery or launching a small, home-based start-up. Having adequate insurance coverage ensures that in the event something does happen, or someone is injured, you’ll be able to keep your Atlanta, GA business and avoid paying more than you can afford out of pocket.

10 Things You Must Know About Life Insurance

Life insurance has numerous benefits globally. It is considered as a critical pillar in personal finance that every home must have. Despite its various uses, most people find it confusing or are skeptical. Unlike other forms of insurance, life insurance sounds complicated, and some of us find it difficult to discuss because it revolves around our demise. This may be what is making it difficult for most people around the world to get covered. Nothing can be as far from the truth. With the right information, you can understand, appreciate, and make the right decision for your loved ones.

1 Source Insurance, serving Atlanta and Dallas, GA, lists the ten things you must know to help you when deciding on life insurance: 

  1. Financial Dependents- If you are a parent with a dependent spouse and or children, you need life insurance. Just ask yourself if anyone will suffer financially if you pass. 
  2. It’s not only about giving money to someone- Upon your demise, some financial consequences remain inevitable. For instance, outstanding mortgages, funeral fees, and debts must be paid.
  3. It’s a policy-  Life insurance is a treaty between you and an insurance company with the aim of helping a loved one when you are gone.
  4. Parties involved- Life coverage revolves around four players; insured, insurer, the owner, and the beneficiary.
  5. Risk Management Approach- In most cases, life insurance is a risk management strategy, not an investment. There are better financial plans for investments.
  6. Types of life insurance- There are two significant categories of life insurance coverage: term life and whole life. Term life is a short-term contract while whole life is for life.
  7. Amount of premiums- The amount of premiums depends on the insured. It can be expensive or inexpensive.
  8. Insurance Agents- There are various online tools to employ in finding budget estimates. However, it is prudent to contact a real agent.
  9. Value of Policy- Deciding how much value you need on a life insurance policy is not difficult. Just estimate how much money your family needs or how much you are spending on them now then approximate the future.
  10. Policy Cancellation- Before deciding to cancel a life insurance agreement, it is recommended that you know and understand your options. 

If you are an Atlanta or Dallas, GA resident and you need a life insurance policy, contact 1 Source Insurance to speak with an agent and learn how to get started.

How Does Commercial Insurance Protect Inventory?

When it comes to owning a business, there are many issues that you may have to deal with. One such issue is how to protect your inventory to make sure that you get back what you put in and that you are not out a ton of money in cases when something goes wrong. So how do you protect your inventory? The best way is with a great commercial insurance policy. For those in the Atlanta or Dallas, GA area, the agents with 1 Source Insurance can help you to work out what plan is going to fit your particular needs the best.

Commercial insurance protects a considerable number of things when it comes to business. One thing that it certainly protects is inventory. In most cases, you will work with your insurance agent or insurance company to find the right amount of coverage to insure your inventory. Your stock might fluctuate in overall value or volume which means that you need an accurate assessment of how much your inventory is worth and how much insurance you need.

The main way that your inventory is protected by a commercial policy is that it helps to replace your stock in case that it is stolen, damaged, or otherwise unable to sell. This means that if something happens to your inventory, you can file a claim with your insurance company to help get the items replaced so that you can get back to earning money and back to doing business as usual. If you live in the Atlanta or Dallas GA, area, the agents with 1 Source Insurance can help you find the right policy to protect the particular items that you have in your business so that you are never out money.

How Do I Know What My Home Insurance Covers?

Home insurance can be a bit of an enigma if you’re a first-time buyer. Those who inherit entirely paid off homes from other people may be surprised to find out that home insurance isn’t even required if you’re not financing from the bank! This should tell you that the number of policies available are as varied as the number of home styles and colors. 1 Source Insurance wants to inform you of what is normal when it comes to home insurance and what you can do.

What’s Normal

Most people are still paying off their home, which means that they need coverage for both the property structure and the grounds. Essentially, the bank wants to make sure that there’s a way to retain the value of the home even in the case of a horrible natural disaster or accident in Atlanta or Dallas, GA. However, that’s about as far as insurance coverage will go. It doesn’t have to include your property or what’s known as general liability. That means that if your mail person ends up breaking their leg because they tripped on a branch in your yard, it may not be covered under your policy.

What You Can Do

If you live in Atlanta or Dallas, GA and have questions about your policy, then give 1 Source Insurance a call for more information. We can help you understand the risks that you’re facing, so you have the means to protect yourself from anything that could happen. Even those who think that they don’t have much to protect likely have more than they think. Home insurance may not only protect your things, but it can also protect against bodily injury of you, your family, and others who may visit your home. Contact us for a quote or to ask questions about how home insurance works! Also, try our online rating tool for quotes on home insurance.

Can I Bundle Commercial Insurance with My other Insurance Policies?

Insurance companies love when you bundle your insurance policies with them. Bundling means that you use one insurance company for your home, auto, and other insurance policies for a discount. This approach to purchasing insurance is typically cheaper than buying multiple policies from multiple insurance companies.

But what about commercial insurance? Can it be bundled with other policies to help save money on insurance costs? The answer is yes.  

What Kinds of Insurance Can I Bundle with My Commercial Insurance Policy?

This may depend on the insurance company you decide to work with. However, the typical kinds of policies you can bundle with commercial insurance includes umbrella insurance, general liability insurance, commercial property insurance, commercial auto insurance, worker’s compensation, life insurance, and even your personal homeowner’s insurance and auto insurance policies. The more policies you have to bundle, the more you will save on your insurance premiums.  

Work with a Reputable Agent to Find the Best Insurance Company to Bundle Your Policies

An experienced, reputable insurance agent can help you find the best bundle deals out there for all your commercial and personal insurance needs. He or she will help you understand the fine details of available policies as well as help you compare quotes. At 1 Source Insurance in Dallas, GA, we serve the residents of the Atlanta, GA area and specialize in finding you the perfect commercial insurance policy for your business. To reach a friendly, reputable agent at 1 Source Insurance, call us today at 770-672-0932.  We are standing by to answer all your questions about starting a new commercial insurance policy in Dallas, GA.  

 

Who can take out a life insurance policy?

Although the specifics will vary from state to state, the general rule across the board, and in Atlanta and Dallas, GA, is that you need to have an "insurable interest" in a person before you can take a life insurance policy out for them.

"Insurable interest" comes down to a number of factors. What one insurer considers an insurable interest, another might not. For most insurance sellers and agencies, including 1 Source Insurance, this will be pretty cut and dry in many instances. For example, if you’re taking a policy out on your spouse, on your parents, or grandparents, then it’s unlikely that any insurance provider will give you any resistance.

Oftentimes, a parent will take a life insurance policy out on their child. This coverage ensures that should something happen; they are at least covered for handling funeral expenses and so on.

This illustrates that it is not a matter of who is a dependent or how much money anyone has in the bank. Life insurance is intended to help cover the expenses involved with a loved one passing on. This means handling the legal fees, funeral expenses, and debt left behind.

Many policies you find through 1 Source Insurance may offer a relatively generous package ensuring that dependents do not have to make lifestyle compromises or sell the house. A life insurance policy allows your loved ones to rest easy knowing they will not find themselves left with a financial burden.

If you are considering taking a policy out in Georgia, call 1 Source Insurance, or visit our office in Dallas, GA, to speak with our agents and have your questions answered.

All you have to know about commercial insurance

Having your own business can be very exciting especially when it is bringing you profit. However, in life, you should always expect challenges. You can never tell what is going to happen tomorrow. What if you wake up one day to find all your assets missing? What will you do then?

1 Source Insurance in Dallas, GA provides you with a commercial insurance policy to help you survive through calamities. With our insurance coverage, you can spend your time in a constructive way other than worrying about risks that may occur. We have intelligent and well-trained employees who will guide you through the entire insurance process.

With running a business, there are several things you need to protect such as your employees, your property, and yourself against liabilities. At 1 source Insurance, we provide you with various commercial coverage options depending on your need. Some of our coverage options include:

Commercial property coverage

With this coverage, all your business properties are protected. For example, we protect your assets, office building, and office content such as furniture, stock, and equipment among more. Our insurance coverage covers losses caused by fire, theft, vandalism, and smoke among others.

Commercial liability coverage

When operating a business, you might find yourself with so many lawsuits either due to injury caused by someone else as a result of your business operations or products. In such scenarios, we provide you coverage for claims set against you. Also, with this coverage, your company can be protected from situations alleged as negligence.

When getting a commercial insurance policy, it is vital that you disclose everything about your business. Otherwise, your plan may be terminated, and you may end up losing so much.

If you are in Dallas, GA, make a point to talk to one of our specialists to get the best business coverage for you. Our agents can answer your questions and help guide you through the process.

Possible Exclusions for Georgia Home Insurance Policies

Home insurance is designed to cover your place of residence and any contents that are located within it in the event of an unexpected loss, and every homeowner is required to have a policy on any piece of property that they own if it is still being paid off under a lender. A home insurance policy will cover certain perils up to any amounts that will be listed on the policy, but it won’t cover every kind of loss. You should make your choice wisely because it can make a big difference later on.

What’s Usually Not Covered in a Georgia Home Insurance Policy

Most home insurance policies in the State of Georgia won’t cover any vehicles or vehicle stereo equipment located on the property, and they won’t cover any losses that resulted from a natural disaster. This can include, but may not be limited to:

•    Earthquakes
•    Floods
•    Nuclear accidents

While these perils aren’t usually covered by standard home insurance, you can purchase separate policies for each of the incidents so you can get that extra coverage you need.

To make sure you’re getting the right kind of coverage for your home, 1 Source Insurance is one of the greatest resources in Dallas, GA, and we have a team of experienced people who can find an affordable plan that will meet your needs. All you have to do is get in touch with us, and we can come up with a comprehensive plan with which you’ll be happy!

Finding an Affordable Home Insurance Policy

Before you buy home insurance, there are certain things you have to consider. You want to make sure that you get the best possible coverage. Most insurance companies will want to appraise the value of your home before they approve you for a policy, and it will be done by a professional home inspector. You’ll want to make an inventory of everything inside your home, and you should take photographs as well. This inventory can be a record of what valuables you own in case of a fire or disaster.

If you need help finding a plan that will cover your home in the event of a loss, 1 Source Insurance in Dallas, GA has some of the best people for answering any questions that you may have. Be sure to get in touch with our office so we can help you get the coverage you need!

Three Tips Small Business Need to Know When Getting Commercial Insurance

Commercial insurance is essential to any type of business in the Dallas, GA area. However, it can be especially important to small businesses. Most small businesses are barely making it. As such, a loss can be catastrophic. The right policy will cover your small business, ensuring you don’t go under because of something out of your control. Here are three tips you need to know when obtaining commercial insurance.

Determine What Coverage You Need

Commercial insurance can include many different things like coverage for theft, property damage, interruption of business, and loss of employees due to injury. If you are a small business, you may not need all of these coverage types. For example, if you do not have any employees, that may be a moot point. Always determine what coverage you need so you are not paying more for coverage you do not need.

Select the Right Coverage Amount

The next tip is to select the right coverage amount. You don’t want to undervalue your store and belongings or you can be in the hole if something happens. Likewise, you don’t want to overvalue them or you are paying for more insurance than you need. 1 Source Insurance can help you select the right coverage amount.

Carefully Pick a Deductible

Lastly, carefully pick a deductible amount. Selecting a high deductible can save you money, but it does you no good if you don’t have the money to pay your deductible if something happens.

Do you need to purchase commercial insurance? Then let 1 Source Insurance, serving the greater Dallas, GA area, help. We offer a wide array of insurance services and can help you find the best policy for your needs. Give us a call today for a quote or to schedule a meeting to discuss your insurance needs.