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Express Financial & Insurance Services

3222 Santa Monica Blvd
Santa Monica, CA 90404

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What happens to my home insurance when my house becomes inhabitable?

Our homes are susceptible to accidents and disasters, which in most cases, we may not control. Extreme situations and accidents such as fire and floods can render your home unlivable. However, devastating it may sound, you may need to vacate your Santa Monica, CA home, and find temporary housing to stay in the meantime.

What happens to your home insurance?

Fortunately, your home insurance covers such incidences, and this type of coverage is known as "loss of use". That is why at Express Financial & Insurance Services, we like to emphasize buying quality home insurance coverage to protect your home and loved ones. Your insurance company will take care of the loss and also provide you with alternative accommodation based on your policy.

You may need to top-up your loss of use coverage.

In most cases, loss of use coverage may not be adequate to cover the damage. Your insurance company may require you to add on extra costs or pay other things like utilities. Depending on how long you’re going to live in the new premises, your insurer may set a limit on how long they will pay for your accommodation.

How will your insurance company settle you?

Depending on your premiums, your coverage should find you alternative accommodation that is similar to your home. For instance, if you lived in a five-bedroom house, you should be re-housed in a five-bedroom house to allow you to continue with your normal lives as quickly and as soon as possible. Your insurer should find a home that is not far from your previous house so that work and school are not disrupted. 

Your home becoming uninhabitable is a whole new headache. Luckily, a home insurance policy can help take care of everything. At Express Financial & Insurance Services, we are here to make things smooth for you. For more information, quotes or queries, call us or visit us at our Santa Monica, CA offices today.

How can auto insurance protect someone in Santa Monica

The Santa Monica, CA area is a great place for someone to live. When you are here, you can enjoy the proximity to local beaches and amazing weather. If you do live here, it can be a necessity to own your own vehicle to get around town. When you do own your own vehicle, it is important that you have it properly insured. Not only is it required by law in California, but it can also protect you and your vehicle in several ways. 

Auto Insurance Protects Asset

One of the advantages of getting auto insurance is that it can protect your asset. Buying a car can be a major investment that will require a down payment, auto loan payments, maintenance, and other expenses. Due to this, it is important that you protect your investment as well as possible. One great way that you can do this is by getting an auto insurance policy with collision and comprehensive coverage.

Provides Liability Protection

An auto insurance policy is also going to provide you with valuable liability protection. Whenever you are behind the wheel, there is always a small chance that you could cause an accident. To ensure that you are protected in these situations, you should get auto insurance as it will give you the necessary liability coverage. 

Someone that is in the Santa Monica, CA area, and is looking for auto insurance should carefully consider their insurance needs. When you are in the market for a new auto insurance policy, you should contact Express Financial & Insurance Services. When you speak with the team at Express Financial & Insurance Services, you can learn more about your options when it comes to insurance and how it can protect you. The team can then help you to get into a quality policy that provides appropriate coverage. 

Does storage space lower recreational rates?

Your recreational vehicle (RV) in Santa Monica, CA does not leave the garage every day. In fact, you have even considered purchasing separate storage space for your motorhome because of your tendency to drive seasonally. You do not have to pay high premium rates if you do not drive your RV daily. The agents at Express Financial & Insurance Services can help you find a policy that gives you a discount for seasonal driving and storage. 

What is seasonal driving?

Seasonal driving occurs when you only take your RV on road trips once or twice per year. Some motorhome owners travel once every three months. Such a driving pattern still qualifies as seasonal so long as you do not take your RV around town every day. 

Many RV owners in Santa Monica, CA fall under the classification as seasonal drivers because they do not live in their motorhomes and often purchase storage space to serve as their RV’s home for the majority of the year. Unfortunately, many RV owners of this sort pay high premiums as if they operated their motorhomes daily because they do not take full advantage of the discounts associated with RV insurance.

Does RV insurance cost less for seasonal drivers who have storage space for their RVs?

Seasonal drivers who store their motorhomes in their garages or purchased storage space qualify for significant discounts. In many cases, these types of drivers only need to pay higher rates for the season in which they plan to drive. The other months of storage are steeply discounted. 

Do you qualify for storage and seasonal discounts?

An agent at Express Financial & Insurance Services can tell you if you qualify for discounts due to seasonal driving and storage. Call them today to get started with a quote for recreational insurance.

3 Tips for Choosing Renters Insurance

Learning about renters insurance isn’t always the first thing that renters want to do, especially if they only plan to rent for a few months or less. But whether you’re in Santa Monica, CA for a few days or a few years, a solid renters insurance policy can be the key to coming out of a catastrophe unscathed. Express Financial & Insurance Services has a few tips that can help you along. 

1. Ask About the Claims Process 

The claims process is ultimately the service that people are getting from their insurance company. When something occurs, this is how the carrier will determine how and what to reimburse. Some carriers will be proactive during the process, while others may step aside until they absolutely have to be involved. While a carrier is unlikely to admit their shortcomings to you, you can tell their values based on their answers. If they’re avoiding certain details or making vague promises, this is likely the treatment you’ll get during the process too. 

2. Make Sure You’re Covering Different Events 

You won’t be able to anticipate everything that can happen to you or your things, but you can ask about the most common occurrences. From water damage to vandalism to liability claims, make sure that you know what kind of coverage you have and which events are excluded from your policy. 

3. Choose a Company Who Wants to Help

If you’re looking for insurance in Santa Monica, CA, Express Financial & Insurance Services can help you answer your questions — whether you choose us or not. If you’re looking for a quote or you want general advice about what it means to protect your things, our staff is ready to start a conversation and put your fears to rest. 

Top Myths about Condo Insurance

If you live in the Santa Monica, CA area and own a condo, there is a good chance that you have been fooled by many of the condo insurance myths. The agents at Express Financial & Insurance Services would be happy to help you debunk the myths and make sure you are fully protected with a comprehensive condo insurance policy. 

My home business is covered 

Many condo owners make the mistake of assuming their home-based business is covered under their condo homeowners’ policy. Most condo insurance policies specifically exclude coverage for businesses. If you run a business out of your home, you will need to purchase a separate business policy to cover liability and property damage claims related to your business. 

Jewelry and artwork are covered 

It is a common misconception that jewelry and artwork are covered under a condo policy because the policy covers personal belongings. While it is true that coverage for jewelry and artwork is provided under a condo policy, it is imperative to understand there is typically a small limit. If the value of your jewelry and artwork is above the policy limit, it is critical for you to purchase additional limits to add to your policy through an endorsement. 

My condo has insurance, so I do not need a personal policy

The myth that the master policy of the condo will provide coverage to you can end up being a costly mistake. The condo master policy is meant to cover the buildings’ common areas such as the lobby or the rooftop. It is critical that you have a personal policy to be covered for your belongings in the condo. 

My tenants are covered by my condo insurance

If you rent out your condo, it is critical that you require your tenants to carry renters insurance. While your policy will still cover you, during the lease, it will not cover your tenants’ belongings. 

If you are interested in learning more about condo insurance, please reach out to an agent at  Express Financial & Insurance today. We proudly serve the Santa Monica, CA area. 

How Does Health Insurance Work?

There are many people in Santa Monica, CA who know they need insurance and even some that have insurance that really do not understand how it works. We here at Express Financial & Insurance Services hope this simple guide can help clear up some of the confusion, starting with common insurance terms. 

Insurance Terms to Know

Premium

The premium is basically your monthly bill to keep your insurance. 

Deductible

This is the amount you must pay each year before your insurance actually begins to cover you. The premium and the deductible tend to go hand-in-hand. Often, the higher the deductible, the lower the premium.

Copay

Most insurance plans require that you pay a flat fee for covered things, such as $20 for a doctor’s visit or $10 for a prescription. 

Covered Costs

These are quite simply the items and services that your insurance will pay for, such as certain medical tests or specific operations.

Network

These are the doctors and pharmacies you can go to in order for your insurance to cover you.

Formulary

This is a specific list of prescription drugs that your insurance covers.

How It Works

Health insurance is very similar to auto insurance in many ways. Every month, you pay your premium. For most people, insurance is not needed every month, but it is there when you do need it. You might not have an auto accident for a decade, but if you do, your auto insurance is there to help you get back on the road. If we had to pay for the damage out of pocket, most of us would be stuck without a vehicle.

The same is true with health insurance. You might not break a bone every day, but if it suddenly happens, that health insurance is there to help you carry the burden. 

If you are in the Santa Monica, CA area and have any further questions, stop by or give Express Financial & Insurance Services a call today!

3 Tips for Buying Recreational Insurance in Santa Monica, CA

Do you enjoy spending your time on your ATV, boat, or jet ski? If so, you should also put some time and effort into protecting these “toys” you have purchased. The best way to do this is by purchasing a quality recreational insurance policy from the Santa Monica, CA based insurance company, Express Financial & Insurance Services. 

Some tips that will help ensure you get the policy and coverage you need can be found here. 

Work with a Reputable Agent 

One of the first things you should do when you are ready to purchase any insurance is to find and work with a reputable agent. One of the best ways for you to do this is by asking family members, friends, or other individuals who own these items about the insurance company they use. Once you have several recommendations for service providers, you can begin conducting your own research to ensure you choose the best of the best in the companies that were recommended. 

Bundle Your Policies 

If you have an insurance company that you are working with already, or if you find a new one, you should consider bundling all your policies together, under the same insurer. Most insurance companies provide a significant discount if you have more than one policy with them. Consider doing this to see if you can save some money. 

Compare Quotes 

Before settling on one insurance company, get at least three quotes for the coverage you need. By doing this, you can feel confident you are choosing the policy that provides you with the most value. 

When it comes to your insurance needs and protecting your recreational items, you can’t go wrong by choosing Express Financial & Insurance Services serving Santa Monica, CA for help and superior protection. 

What Santa Monica, CA Renters Need To Know About Renters Insurance

Why Don’t More Renters Secure Insurance?

Renters often put off getting renters insurance for a number of reasons. These include: 

  1. I don’t own much stuff, or it was all secondhand anyway.
  2. My landlord has insurance for that.
  3.  Insurance is expensive.
  4. That takes too long, and I don’t want to talk to high-pressure salespeople.

The Advantages Of Renters Insurance

Renters insurance is easy to get and extremely cost-effective. It gives you peace of mind. The renter who has insurance has these advantages that come with their policy coverage:

  • Possessions are covered by personal property coverage.
  • Their housing can be covered by a loss-of-use policy.
  • They and their families can have peace of mind with liability protection.

If something were to happen to your possessions, it wouldn’t matter how inexpensive they had been to get. What would matter is that you now have none of those items- dishes, furniture, clothing, and movie collection? If the building experienced an incident and you could not stay there, where would your family sleep that night? Having a visitor come to your apartment won’t leave you open to personal liability. Our agents at Express Financial & Insurance Services are ready to show you what a renters insurance policy can do for you in Santa Monica, CA. 

We Have Solutions

Visit us today at Express Financial & Insurance Services to learn more about the many insurance options that are waiting for you. It won’t take much time, and we’ll explain the terms of each policy. We also understand if you need some time to think about it. Your Santa Monica, CA landlord is under no obligation to cover the property of renters, so it’s up to you. It’s easier than you think, so call us today.

Why do I need condo insurance in Santa Monica CA

Owning a condo in Santa Monica, CA is a dream come true but it comes with a lot of worries. Like any homeowner, you need to think about what will happen if you have something bad occur to your home. With a condo, the association has a master policy that covers the exterior area of your home and the common areas. Their policy covers both perils and liability in case someone is hurt on the property.  How much their policy covers is something that you need to find out so that you can determine what is your responsibility. With Express Financial & Insurance Services you have someone to turn to when you need your questions answered. 

Personal property

Your personal property is not covered in the master policy of the condo association. If your condo is damaged or destroyed and you lose all of your personal items in your home, replacing them will be your responsibility. If that would be a financial hardship then having condo insurance is a necessity for you. Your personal property will also be covered against theft. If you have condo insurance and your personal property is stolen while you are away from home traveling, it will be replaced after your deductible is met. 

Liability coverage

This coverage protects you and your family members, even your furry friends from the results of an injury that hurts someone else. It covers medical as well as legal expenses. 

Loss of use

If your condo is damaged by a covered peril and is uninhabitable, this coverage will help pay for a place for you to stay until you can come back home. 

If you have questions about condo insurance in Santa Monica, CA, Express Financial & Insurance Services is there to answer them for you. Stop by their office or give them a call for a no-obligation quote. 

 

 

Tips for choosing the right health insurance

Choosing health insurance can be intimidating. Finding a policy that is affordable and provides the coverage that you need is not for the faint of heart. It helps to do some research before you begin so that you can understand the terminology.  If you live in or near Santa Monica, CA Express Financial & Insurance Services can come to the rescue with some friendly health insurance advice.

In the meantime, these tips will get you started as you navigate the complicated world of health insurance.

Provider network

If you want to keep your current doctor or doctors be sure to check the provider network of any plan or plans that look interesting to you.  If you are in doubt, talk to your doctor’s office, they will know exactly which insurance plans they accept. You should also check which local hospitals are included if you have a preference.

Deductibles

Before your insurance starts to cover you, you have to pay a certain amount of money out of pocket, this is a deductible. High deductible plans are more affordable but can result in you paying not only your premiums but all your medical expenses since you have not met the deductible.

Co-pays

For covered expenses, the insurance may cover a percentage for example 80% and then you pay 20% or there may be a set amount that you pay for that service, such as an office visit.

These are just a few of the terms that you need to understand before you can make an informed decision about what health insurance is right for you. In addition to all these terms, the premiums must be affordable. If you live in or near Santa Monica, CA, Express Financial & Insurance Services will be happy to talk to you about the right health insurance for you and your family.