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Express Financial & Insurance Services

3222 Santa Monica Blvd
Santa Monica, CA 90404

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Is Renter’s Insurance Required in California?

While renters insurance is not required in the state of California, some landlords may require it as part of your lease agreement. Even if you live in a building in which it is not required, it is a very good idea to have a renters insurance policy in place. The staff at Express Financial & Insurance Services in Santa Monica, CA know first-hand the importance of renters insurance since landlords are not liable for any losses of your items if an incident occurs. The property insurance of landlords only covers the structure of the building, house, or mobile home that you live in but does not cover any of your personal belongings.

Personal Property Coverage

Renters insurance offers personal property coverage which is very important since your landlord’s insurance does not cover it. This type of coverage will help you replace your personal belongings, including any appliances that you have bought for your home, your clothing, and any other items that belong to you if there is a fire, a natural disaster, or an act of vandalism.

Theft Coverage

Renters insurance will also help you replace items that are stolen from your apartment or house that you are renting if a robbery or theft incident occurs.

Liability Insurance

liability insurance is very important to have as it will pay for any medical bills or time off work of a guest in your home who is injured due to a fall or some other issue inside the home.

Get a Quote Today

It is very important and affordable to have a renters insurance policy in place that will not only help you replace your personal belongings if a horrible incident occurs but will also provide you peace of mind in knowing that the things you’ve worked so hard for are protected. To obtain a quote for renters insurance coverage or to get your policy started, contact the experienced and trusted agents at Express Financial & Insurance Services in Santa Monica, CA today!

Condo Insurance Coverage: How it Works and Terms You Should Know

If you’re looking to learn about Condo Insurance and how it works, Express Financial & Insurance Services serving Santa Monica, CA, has all the answers you need.

Many people love living in a condo because it’s easier in many ways than homeownership, but having condo insurance is just as important as having homeowner’s insurance. Condo associations will usually cover some insurance needs but condo insurance will help cover items that the association insurance will not. Association insurance will typically cover damage to the exterior or common areas of the condo or injuries you might sustain in a condo’s common area.

Condo insurance covers damage or loss of your personal property or in the event that you get sued for someone becoming injured in your condo. 

Additionally, there is some condo insurance terminology that is useful for anyone who might need this type of insurance to know.

All Perils Coverage: Protection against a wide range of risks and only excludes perils that are specifically listed.

Deductible: Amount paid out-of-pocket for a claim before the insurance policy pays.

Liability Coverage: Protects you financially if you cause damage to someone else’s property or bodily damage unintentionally.

Non-owned Property: Coverage for personal property belonging to others while it is in your possession.

Unit Contingency Coverage: Coverage for your unit, including walls, original flooring, plumbing or other fixtures that aren’t covered by the condo property insurance, or if their insurance is insufficient.

Unit Improvements and Betterments Coverage: This is coverage for when you want to make upgrades and improvements to a condo. Association insurance will not cover any upgrades or improvements you make.

For more information on Condo Insurance, contact the professionals at Express Financial & Insurance Services serving Santa Monica, CA today!

Tips for Self-Employed Workers Who Need Health Insurance

Whether you run a small business or you are self-employed, you may find the world of health insurance suddenly becomes more complicated. While you may not qualify for group insurance, you still have many healthcare options to choose from.

Express Financial & Insurance Services, serving Santa Monica, CA, understands that health insurance is not a simple subject. If you still have questions about health insurance, these tips will help you find the right policy.

You Can Still Find Essential Coverage

Even if you cannot have group insurance through an employer, you can still find complete coverage. Additionally, you can still not be excluded from getting insurance based on a pre-existing health condition.

Play With Premiums & Deductibles

Are you unsure which insurance option is right for you? Do you have a specific goal in mind regarding how much you want to spend each month on health insurance? You may have a lot of options related to how much you spend each month when you adjust your deductible and coverage options.

Ask About Short-Term Health Plans

Do you plan to work as a contractor for a short period of time? You may benefit from a short-term policy. Ask an insurance agent about different treatment options.

Understand the Marketplace

The healthcare marketplace can be confusing to navigate, but you can get help finding coverage for you and your entire family by speaking with a professional. An insurance agent can provide you with information about insurance policies and your coverage needs.

Each state has different types of health insurance plans, and you can shop for a policy more easily with professional help. If you live in Santa Monica, CA, get in touch with Express Financial & Insurance Services to learn more about your insurance options.

Do I need life insurance after I retire

When it is time to start thinking about retirement, there are a lot of things to consider and many of them are financial. Most people do not enter retirement with the same level of income they had when they worked full-time. That may mean there are some decisions you may have to make about things that are more necessary than others. At Express Financial & Insurance Services in Santa Monica, CA, we are here to help you to make these important life decisions. With our over 54 years of combined insurance and financial experience we are uniquely qualified to give our customers the help and advice they seek. 

The answer to the question "Do I need life insurance after I retire?" doesn’t have one answer. Every case is different, and you need to access not only your income but your need for life insurance. Just because you are retiring, that doesn’t mean there aren’t others who depend on your income to survive. Not everyone who is of retirement age no longer has children who are underage. 

In order to know if you need life insurance after retirement, you need to know how much income those people who depend on you will require and if the income they will get meet their needs. If it doesn’t then life insurance is the bridge that makes it possible for them to live comfortably. You will need to figure out how long they may potentially need assistance when figuring out if the life insurance you currently have will be enough and if you can afford to keep it. Talking to your independent insurance agent can get you the answers you need. 

In Santa Monica, CA, contact Express Financial & Insurance Services for all your life insurance needs. Stop into our office or give us a call. 

Business Owners Policy vs. Commercial Package Policy

Opening a business is a great thing. Regardless of the optimism surrounding your business venture, all investments have some element of risk. As such, there is a need to secure them by getting an insurance policy for your business. The business owners’ policy (BOP) and commercial package policies (CPP) are the two most popular insurance coverage options for your business. But what’s their difference? 

What’s a Business Owners Policy (BOP)?

A business owner’s policy (BOP) is an insurance cover that combines many coverages with various standard insurance covers that may not be of particular interest to the policyholder’s insurance needs. The policyholder buys the BOP without choosing what should or shouldn’t get covered. 

The policies often cover business personal property, including the assets in a building, the building, and the loss of income that may occur after some risk. The cover may also help when clients or workers sue because of personal harm. But such covers don’t always cover what a business needs to protect. For instance, there may be no disability or health insurance covers within it.

What’s a Commercial Package Policy (CPP)?

CPP is a business insurance coverage option that provides a bundle of covers made into a single package containing policies explicitly chosen by the policy holding business. The coverage often offers general liability and business property coverage. CPPP may also provide business interruption and data breach coverage, among many others. 

Typical, the CPP cover can get expanded to include many business risks. The option gives a business a flexible way to tailor its bespoke insurance coverage. The option also offers a cheap mode of obtaining cover instead of buying individual policies for each risk element. These covers can contain property, crime, auto, and general liability policies, or more.

Differences Between BOP and CPP

  • Unlike BOP, CPP can get customized
  • Unlike CPP, BOP policy offers can’t get changed by policyholders
  • A BOP provides only specific risk coverages, and if some risks aren’t covered, the business has to seek separate extra coverage

Similarities Between BOP and CPP

  • Both BOP and CPP carry many coverages that cater to different risks. 

Get BOP and CPP Policies Today

If you are in Santa Monica, CA, then you should visit Express Financial & Insurance Services to get your BOP and CPP insurance covers. At Express Financial & Insurance Services, we provide updated BOP and CPP insurance policies to Santa Monica, CA residents. Check out our website to learn more.

Most Forgotten Home Insurance Basics

You have maintained home insurance for most of your homeownership journey- congratulations! But as they say, familiarity breeds contempt. Overfamiliarity can lead you to forget the basics of home insurance. Fortunately, Express Financial & Insurance Services is here to remind you of home insurance basics that you should have in mind to get the most out of your coverage.

Failing to read your policy

Whereas reading a home insurance policy isn’t everyone’s favorite hobby, this doesn’t let you off the hook. Your home insurance policy contains crucial information regarding what is covered and what isn’t. Before rushing to sign the dotted line, liaise with your insurance agent regarding any clause that you are unsure of. Misunderstanding your insurance policy can result in a bad experience during the claim process.

Using actual value instead of replacement value

Instead of using your home’s market value, you must consider the cost of replacing your home if it were to be rebuilt today from scratch. Again, if you are not sure of the value to use, consult your agent to avoid disappointments in the future. 

Not having a home inventory

Failing to have a complete list of your possessions could plunge you into a financial hole when disaster strikes. An updated comprehensive home inventory ensures that all your assets are covered, and you don’t forget any item when making a claim.

Reviewing your home insurance

If you own a home in Santa Monica, CA or any other part of America, you should update your home insurance at least once every year. Besides, the below changes should signal you to sit down with your insurance agent to review your home insurance.

  • Addition of family members
  • Significant renovations
  • Changes in local building costs

Having a trusted insurance agent that reminds you about your home insurance basics can help you avoid a nightmare experience when filing claims. Thankfully, you can trust Express Financial & Insurance Services for all your home insurance solutions if you are in Santa Monica, CA and its environs. 

What Are the Different Parts of a Renters Insurance Policy?

If you have just rented a house in Santa Monica, CA, you need to make sure that you have renters insurance. This is a policy that helps you cover against the liability facing your personal belonging in the house.

This type of insurance does not cover the building as that is already covered by the landlord. Express Financial & Insurance Services can help you to understand the different parts of the renters’ insurance policy. 

Personal Property Liability

This part of the renters’ insurance helps you to cover the loss of the personal property facing your building. This will help you to cover stolen items and others that are likely to have been damaged by an electrical fault. Remember that the extent to which the loss of your personal property is covered highly depends on your coverage limits. You will have to cater to the costs exceeding your insurance limit. 

Liability Protection

Besides your personal properties, there are other essential liabilities that are likely to emerge in your house. For example, you might accidentally damage the house. Also, a guest might accidentally get injured while in your house. This part of the renters’ insurance will help you to cover such types of liabilities, especially in situations where you’re directly liable. 

Additional Living Expenses

In some situations, the house you have rented might become uninhabitable. For example, damages to a major structure mean that the house can easily collapse, and you don’t need to be in the house when this happens. Your renters’ insurance will help you in making sure that all the additional living expenses such as hotel bills have been covered. 

Are You Looking for Renters Insurance?

In Santa Monica, CA, Express Financial & Insurance Services is the leading insurance company. We will help you to get renters insurance that will be very effective in covering the liabilities discussed above. Call us today for additional information.

Recreational Vehicle Insurance: Factors To Consider When Examining Policies

Recreational Vehicle Insurance: Factors To Consider When Examining Policies

Are you looking for recreational vehicle insurance for a camper, motorhome, or other RV? Express Financial & Insurance Services, which serves Santa Monica, CA, has helped countless people obtain great, affordable RV insurance. When examining insurance policies, there are several important factors you must consider. Let’s take a look.

Is There a Deductible? If So, How Much?

Many RV insurance plans have a deductible. This means you’ll often have to pay a certain amount upfront before the insurance company will cover the costs. Often, higher deductibles result in lower premiums, but if something happens, and you don’t have the funds to cover the deductible, you may find yourself in a tight spot.

Do You Need Full Time or Part Time RV Insurance?

If you live in your trailer or other RV full-time, you’ll want to carry full-time insurance. However, if you only use your recreational vehicle occasionally, part-time insurance may suffice. Generally speaking, full-time RV insurance offers broader coverage.

How Much Liability Coverage Does the RV Insurance Plan Provide?

Liability insurance is one of the most important factors to consider when choosing a recreational vehicle insurance plan. Liability insurance covers injuries to other people in the event of an accident. If you don’t carry enough liability insurance and someone ends up injured you may have to pay for medical bills and other costs out of pocket.

How Much Will an Insurance Plan Pay If Your RV Is Destroyed or Damaged?

Many recreational vehicles, including some motorhomes, cost $100,000 or more. You should understand how your RV will be valued if you must make a claim and how much you might ultimately end up getting paid.

If you’re looking for recreational vehicle insurance, contact Express Financial & Insurance Services, which serves Santa Monica, CA, to find the plan that best suits your needs.

How Does Renters’ Insurance Work?

If your home is a rental, there is an important type of insurance that you should have from the first day you live there. Renters’ insurance is much like homeowners’ insurance, but it doesn’t cover the actual building. The landlord is responsible for insuring that, and renters’ insurance tends to be very low cost. If you need this insurance type, contact us at Express Financial & Insurance Services in Santa Monica, CA.

When Disaster Happens

When some type of disaster or other incident happens to your home, renters’ insurance often kicks in to help you. One of the first things that people worry about is what will happen if their possessions are destroyed or badly damaged. With renters’ insurance, you have protection against that happening. It aids in getting your things replaced so that you can keep up your standard of living even when a catastrophe happens to your home. 

Destroyed Homes

When you live in a rental home that is destroyed by a catastrophe or accident happens, your renters’ insurance will come in to help you to live elsewhere. It will pay for you to move to a different rental and pay your expenses associated with having to move and live without what you had before. It’s a good way to protect yourself just in case the worst should happen to your home. Being without this insurance would be disastrous if a major catastrophe happens.  

Accidents and Sicknesses

If someone should have an accident or become ill inside your home, this insurance will take care of your liability for medical bills. 

Protect Your Home

If you have not protected yourself and your home with renters’ insurance, don’t wait to get it into place. If you have questions about it, contact us at Express Financial & Insurance Services in Santa Monica, CA.

Reasons To Get Condo Insurance

Condo insurance, which is also known as condominium coverage, is known as a type of property and casualty insurance. It protects condo owners, their units, and personal belongings from unforeseen circumstances. If you own a condo but are not sure whether you need this type of insurance or not, Express Financial & Insurance Services serving Santa Monica, CA prepared a list of reasons why condo insurance is important: 

Your Building Insurance Does Not Cover Personal Belongings

Many condo owners may not know but the insurance that a condo association carry covers the building but not their personal belongings. That means that a condo owner is fully responsible for protecting their personal stuff in case of fire, theft, or any other accidental damage. The easiest and the most affordable way to take care of this is condo insurance. 

Condo Insurance Protects Against Personal Liability 

If your guest or visitor trips on a piece of furniture and injures themselves, you may be considered legally at fault and deemed responsible for their medical bills and lost income (if a person cannot continue working due to an injury). 

This Insurance Helps During Public Emergencies

If you have to leave your condo due to an emergency (fire, flooding, mass evacuation), your condo insurance policy will provide you financial help. It will cover living expenses, as well as the cost of food in your freezer. 

Condo insurance is not a luxury – it is a necessity for condo owners, who want to protect themselves, their units, and personal belongings. If you are currently shopping for this insurance but you need some help, Express Financial & Insurance Services serving Santa Monica, CA is ready to assist you and help you find the perfect policy based on your budget and insurance needs. Feel free to visit our website or give us a call for more information.