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Express Financial & Insurance Services

3222 Santa Monica Blvd
Santa Monica, CA 90404

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Does Condo Insurance Cover Liability If Someone Is Injured In Your Condo?

Condo owners who live in the Santa Monica, CA area often have questions about what their condo insurance actually covers. The agents at Express Financial & Insurance Services can provide the answers they are looking for and review their policy to make sure they have the coverage they need if a person is injured while visiting their home.

Liability

Most condo insurance policies provide some degree of liability coverage. It is up to the condo owner as to how much insurance they feel is necessary. Individuals who have guests in their home on a regular basis may want more coverage than someone who doesn’t spend a lot of their time entertaining guests. Even if a person rarely has visitors, it’s essential to have some degree of liability protection.

Be Aware

Even if a person has ample liability coverage, it’s always beneficial to be aware of things in your home that may increase the risk of someone being injured. Loose rugs and dimly lit rooms can cause someone to trip and fall. Maintain wide walkways between furniture to prevent stumbling and wipe up spills if they occur. Always be aware of your surroundings and correct any potential risks that may be present.

The agents at Express Financial & Insurance Services are always ready to assist their clients who live in the Santa Monica, CA area. If you have questions about how much liability protection you have with your condo insurance policy, call and schedule your appointment today! They can answer your questions and make sure you have the amount of insurance you need if someone happens to be injured in your home.

Does Renter’s Insurance Cover Personal Belongings Only?

Renter’s insurance is something that every renter should consider at the very least. It covers a wide range of things and can help keep you from losing everything in the event that something terrible like a fire or a break-in occurs. It is important to note that your landlord is not responsible for any of your belongings and that a renter’s policy can take away some of your worries. For those that rent and are looking for a policy, the agents with Express Financial & Insurance Services in the Santa Monica, CA area can help.

Renter’s insurance covers most commonly, your personal belongings. This means things like clothes, furniture, electronics, and any other personal effects that you might have in your apartment or rented space. This type of policy is going to help make sure that if there is something like a fire or a break in, you are not stuck paying for the entire mess and for replacing all your items on your own. Renter’s insurance covers more than just personal effects, however.

If you choose you can also add coverage for things like medical bills if you are hurt in the rented space, you can add coverage for expenses should you have to find temporary housing after an incident and more. Renter’s policies are going to cover basically what you are willing to pay for. If you want to pay for more, they are going to cover more. You can tailor your renter’s policy to your particular needs and desires by simply talking with an agent about how to create a specific and succinct renter’s policy.

For those in the Santa Monica, CA area, the agents with Express Financial & Insurance Services can help you create the perfect renter’s policy with little effort and even less stress and worry.  

Does My Home Insurance Policy Cover Jewelry?

A homeowners’ insurance policy is the best way to protect your home and personal belongings from loss. Losses can arise from natural or manmade disasters and other catastrophic events. If a particular event is covered in your homeowners’ policy, the insurance company assumes the financial burden of paying for the losses arising from the occurrence of the said event. But what exactly does a homeowner’s insurance policy cover?
Well, coverage specifics vary from one policy to another. However, a typical homeowners’ policy covers the structure, personal belongings, and temporary accommodation as the repairs go on. Jewelry and other items of value are also covered under personal belongings, but the coverage is subject to several stipulations and limitations. If you are in Santa Monica, CA, Express Financial & Insurance Services can help you get sufficient coverage for these high-value items.
When Homeowners’ Insurance Covers Damaged or Lost Jewelry 
Jewelry is covered when its damaged or lost due to a listed peril such as fire or theft. For instance, if a fire in your house damages your jewelry collection, your home insurance policy will pay for the damage, but only up to the coverage limit specified in your policy. If burglars break into your house and manage to steal your jewelry, the policy will cover part of its value, but again, to the maximum limits defined by your policy.
However, you can increase the coverage on your jewelry by purchasing additional scheduled personal property coverage, also known as floater or endorsement. Floaters or endorsements will increase your coverage limits and add an extra layer of protection for your jewelry. If you are looking for additional coverage for your jewelry in Santa Monica, CA, Express Financial & Insurance Services can sort you out. Get sufficient coverage for your jewelry and avoid major losses in case of theft, fire, or any other event that may lead to the loss of these precious items.

What At-Home Businesses Should Know about Commercial Insurance

Many home-based businesses in Santa Monica, CA lack proper insurance, but it is important to know that even a home-based business needs the proper commercial insurance. It doesn’t matter how much a business sells, it’s the amount they could lose if anything goes wrong that really matters. Don’t wait to get insurance.

Regular home insurance or renter’s insurance won’t cover any business-related accidents, but it’s possible to get a rider to your home policy that gives you more coverage. This is a good idea for a small business that doesn’t have a lot of risks, valuable equipment or people visiting the business.

An in-home business policy covers more contingencies and can usually work for businesses with three or fewer employees. This policy will cover equipment and liability. If people are coming in and out of the business, having liability coverage is important. Agents at Express Financial & Insurance Services can help determine what you need based on your business.

If the home business is substantial enough, it should have a business owner’s policy just like a typical brick-and-mortar business would use. This coverage includes business equipment and assets, liability for any injuries, malpractice or professional liability claims, and loss of income for business interruption.  It may also cover a personal vehicle used for business, but there are also commercial vehicle policies available if you use your vehicle frequently. This type of policy gives more coverage than the other two policies, so it’s a good choice for businesses that have a lot of equipment or travel to other people’s homes often to do business or have people in their home.

As your business grows, speak with your agent at Express Financial & Insurance Services serving Santa Monica, CA to make sure you are keeping up with adequate coverage and to learn more about your home business coverage options.

Does Boat Insurance Cover Dry Dock Damage?

If you are planning on buying a boat, or have purchased a boat recently, you may have questions about your insurance coverage. Knowing the specific details of your boat insurance helps you more effectively protect your investment and prepare for use or storage year round. One of the most pressing questions boat owners have is whether or not their insurance protects the vessel when it is in dry dock storage. 

Does My Policy Protect My Boat While In Dry Dock?

Most boat insurance policies do not cover the vessel when it is in dry dock, or even out of the water. The good news is, however, that most dry dock facilities do carry liability coverage that covers any damage or loss of the vessel while located on the premises. If you decide to store your boat on your property, you can extend your home insurance coverage to include the boat in most cases. It is important to discuss the limits of liability that the dry dock facility carries to ensure your boat is protected. Likewise, you should check with your insurance agent regarding the ability of your home insurance to protect your boat and make any necessary adjustments before storing the vessel.

Get The Coverage You Need

If you are shopping for boat insurance, it is important to do business with a company that has experience with this type of policy and is dedicated to helping you get the insurance you need from start to finish. Reputable insurance providers such as Express Financial & Insurance Services serve the residents in and around Santa Monica, CA, and are committed to helping you get the coverage you need.

Don’t take chances with your valuable investment. If you live in or near Santa Monica, CA, call or stop by Express Financial & Insurance Services to speak with a helpful, knowledgeable insurance representative today.

Understanding Basic Motorcycle Insurance Requirements in Santa Monica, CA

You love your motocycle and don’t want anything to prevent you from enjoying Santa Monica’s great weather from the seat of your bike. Make sure you understand your legal requirements to obtain insurance. California requires motorcycles to be registered and insured just like any other vehicle on the road. Proof of coverage ensures that you are able to cover any damages or injury in an accident you may cause. Your Express Financial & Insurance Services representative is available to help you understand your options. First, let’s look at the state laws governing motorcycle insurance.

California Motorcycle Insurance Requirements

In order comply with state law your motorcycle insurance has to include liability insurance coverage. This includes bodily injury and  property damage experienced by others due to a crash that you caused. Here are the types of coverage you need.

  • bodily injury or death benefits to one person injury or killed in an accident you cause
  • bodily injury or death benefits for more than one person injury or killed in an accident you cause
  • property damage resulting from an accident you caused to another person’s property

Deciding on Insurance Coverage

 Review your options from a perspective of how often you ride and the likelihood of an accident. Get as much insurance as you can afford without being over insured. Your Express Financial & Insurance Services agent can help you decide what suits your needs. For instance, you can always sign up for the minimum and add specific coverage later if you feel you are at risk.  

One thing to remember is that liability motorcycle insurance doesn’t cover you or your motorcycle. Many riders opt for comprehensive coverage that pays for damages if you are hit by an uninsured or underinsured driver.

Contact Us

Contact Express Financial & Insurance Services today to set up an appointment for a quote, not only for motorcycle insurance but all your coverage needs.

 

 

 

Can I Buy Health Insurance While Pregnant?

If you have just found out your pregnant, you may be experiencing a mix of emotions. But if you do not have health insurance or have a policy that does not provide adequate coverage, you may find yourself concerned about this. One of the questions that we at Express Financial & Insurance Services, serving the greater Santa Monica, CA area are often asked is whether you can purchase health insurance if you know you are pregnant. This may be one of the questions you also have. Here is what you should know about this topic. 

Buying Within the Health Insurance Marketplace

If you are looking to purchase health insurance from the health insurance marketplace, you can only purchase health insurance during open enrollment or if you have a qualifying life event, such as moving or losing your current health insurance due to a job change. Pregnancy itself is not a life event that would allow you to purchase insurance outside of open enrollment. However, if it is open enrollment, you can purchase health insurance while pregnant through the marketplace. 

Buying Outside of the Marketplace

If you are looking to buy health insurance through a private company, you can purchase health insurance while pregnant. However, it is considered a pre-existing condition and your insurance rates and premiums may be significantly higher due to the pregnancy. This is important to keep in mind, especially if money is tight. 

If you are looking to purchase a health insurance plan, whether you are pregnant or not, Express Financial & Insurance Services, serving the greater Santa Monica, CA area, can help you. We can help you determine what health insurance plan best fits your needs. Call us today to get started. 

How an Insurance Agent Can Help You Navigate the Health Insurance Marketplace

If you are looking to obtain health insurance through the health insurance marketplace, you are able to do so on your own, without the help of anyone. But at Express Financial & Insurance Services, serving the greater Santa Monica, CA area, we can help you navigate the system. This may leave you wondering how and why it is beneficial to you to have an insurance agent help you. Here are a few of the things an insurance agent can help you with. 

Help You Determine When You Can Enroll

The health insurance marketplace is not open to purchase insurance from to everyone at all times. You either need to enroll during open enrollment period or within 60 days of a life-changing event. An insurance agent can help you determine when you are eligible to enroll. 

Explain the Differences in Plans to You

Another benefit of working with an insurance agent when buying health insurance through the health insurance marketplace is that they can explain the different plans to you. Not every plan is right for every person and selecting the right plan can be confusing. An insurance agent is familiar with insurance jargon and helps you to better understand the plans available. 

Determine What Credits You May Be Eligible For

The last benefit way an insurance agent can help you navigate the health insurance marketplace is by helping you determine what instant credits or tax credits you may qualify for. This helps to keep your costs as low as possible for your health insurance policy. 

If you are looking to purchase a health insurance plan in the greater Santa Monica, CA area, give Express Financial & Insurance Services a call. We can help guide you through the buying process, ultimately making the process as smooth and easy as possible. 

What Factors Affect RV Insurance Costs?

Various factors affect the cost of RV insurance. Some are under your control – others aren’t. Greater awareness of how RV insurance costs are determined can help you save money on coverage. Here are some of the main factors that can affect policy costs.

RV Use

How you use your RV will determine the insurance coverage you need and subsequent costs. If you live in your RV year round, you may need more extensive coverage than someone who uses their unit for recreational traveling in the Santa Monica, CA area. Getting the right insurance coverage is essential to protect you and your investment. At Express Financial & Insurance Services, we can personalize your RV insurance to suit your needs at a price you can afford.

Deductible

The higher your insurance deductible, the lower your premium costs. Before getting a policy with a high deductible, make sure you are financially capable of paying this deductible in the event of a claim. Otherwise, you could be “penny wise and pound foolish” in your decision to raise your deductible to save a few dollars on your premium.    

Discounts

If you’re not taking advantage of discounts on RV insurance, you could be paying too much for your coverage. Many insurers offer discounts to experienced RV drivers who have a good driving history with few accident claims. Membership in an RV association and multiple insurance policies (car insurance, home insurance) could also qualify you for a discount on your RV insurance policy.

Marital Status/Credit Rating

If you’re married or have good financial standing, your insurer may consider you more responsible and less of a risk of causing an accident. This could qualify you for lower rates on your RV policy.

Contact us at Express Financial & Insurance Services, Santa Monica, CA, to learn more about RV insurance options and costs.  

The Benefits of Decreasing Term Life Insurance

As you age, you may be thinking about decreasing your term life insurance policy amount. If you are thinking about doing this, you may be wondering what, if any, benefits there are. At Express Financial & Insurance Services, we want to educate our clients on the importance of increasing life insurance when needed and decreasing life insurance as needed. Here are a few benefits of decreasing your term life insurance policy. 

Lowered Cost

One of the biggest benefits to decreasing your term life insurance policy is the lowered cost. As a general rule of thumb, the lower your policy amount, the lower your premium payments will be. If you are looking to decrease the cost of your life insurance policy, or no longer need to carry as much insurance as you have in the past, lowering the policy limits on your life insurance policy may be a great way to go about doing so. 

Carrying What You Need

Most people need less life insurance as they age. Their children may leave the nest and their home may be paid off. When you have children and/or when you have a home that is not paid off, you should be carrying enough life insurance to pay down your debt and support your family. But when these things are no longer in play, you can decrease your policy amount and only carry what you need. This helps to ensure that you are not over insuring yourself. 

If you are in the market for a new life insurance policy, or are looking to increase or decrease your policy amount, contact Express Financial & Insurance Services. We can help you determine how much life insurance you should have based on your current life expectancy and financial situation.