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Express Financial & Insurance Services

3222 Santa Monica Blvd
Santa Monica, CA 90404

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Can I Borrow Against A Whole Life Insurance Policy?

The agents of Express Financial & Insurance Services are able to explain all of the benefits of a whole life policy to their customers living in the Santa Monica, CA area. Your whole life insurance policy has many benefits that you may not be aware of. Talking to your agent will help you learn what your policy can do and how you can benefit from having it long before your family actually uses it.

The Benefits of Whole Life

A whole life insurance policy is meant to provide for your family if the unthinkable happens. The monthly premiums are higher because there is no termination date. Since you don’t know when you will need to use it, the money is put into an account, first to make sure the cash value of the policy is reached and second, to establish a cash value. At the time of your death, the cash value of the policy is paid out to your family to ensure they are taken care of.

Protecting Your Family

Once your policy begins to establish cash value or equity, you may be able to borrow against it if an emergency occurs. The money you borrow is treated in the same way as a loan using the policy as collateral. Just like a loan, the money must be paid back in a timely manner. 

Santa Monica, CA residents can visit the agents of Express Financial & Insurance Services if they are interested in learning more about the benefits of having a whole life policy. Schedule a meeting at your earliest convenience to see if you can benefit from purchasing a whole life policy.

Is Workers’ Compensation Part of Commercial Insurance?

If you have employees, you’re typically required to have workers’ compensation insurance to cover them in case they’re harmed on the job. You will typically be held liable if they sustained any type of injury while furthering the interests of the company. This principle applies to all industries, even ones that wouldn’t necessarily be considered dangerous for its workers. If you’re in Santa Monica, CA, Express Financial & Insurance Services wants you to have as much information as possible. 

Buying Workers’ Compensation Insurance 

Your commercial insurance may or may not cover workers’ compensation, though many policies will bundle these costs together. Each state has its own rules and requirements when it comes to workers’ compensation insurance, and California tends to err on the side of caution. In other states, you may not need insurance for companies with under a certain amount of employees. However, in California, you’ll need protection if you have even one employee. In addition to state rules, your industry may have specific rules about workers’ compensation. Jobs with more risks may require business owners to purchase additional coverage. 

Understanding Your Options 

Express Financial & Insurance Services works with business owners from a variety of industries in Santa Monica, CA. We help get them the coverage they need to keep their business alive. Just one lawsuit or compliance violation can threaten the future of a business, and leave it open to failure.

If you want to learn more about your options, give us a call today to learn more about how the right policy for you. You may also want to consider increasing the coverage of your current policy as well. Injuries in the workplace can be common, regardless of whether your employees work in an office building, from their home, or at an outside location. 

Are my pets covered under my home home insurance policy?

Pets are part of many families in Santa Monica, CA. The summer season is almost here, and many families are looking forward to taking their pets outdoors which can make them get a little wild, which could lead to accidents in the home. 

 Are Pets covered?

The good thing about home damages is that you can always purchase a home insurance policy to cover for losses or injuries that may occur. That is also to answer our title that home insurance does not cover your pets, but the injuries and damage they cause on other people who are not part of the home. When you choose a certified insurance company like Express Financial & Insurance Services, we ensure that you understand all the covered policies in your home insurance policy to avoid future misunderstandings.

Pet damages don’t exist.

It is imperative to understand that what your pet damages in your home is not covered, but what your pet damages in another house is covered. Pets are considered to be a privilege and that owners should own one at their own risk.

Policies do cover injuries.

Any injuries that happen in your home to other people who may have visited you are covered in your home insurance. This also includes bites or scratches from your pets. However, you are not covered if your pet bites or scratched you.

Specific Pets can affect your coverage

Some insurance providers regard some pets as ”dangerous,” which may prompt them to hike their rates. It is crucial for any pet owner to inquire about such details as not all providers follow these rules.

So, if you own pets and are wondering whether they’re covered, Express Financial & Insurance Services located in Santa Monica, CA will help you find a suitable solution that will enable you and your pet enjoy your summer.

Do You Need to Update Your Auto Insurance?

Major milestones or changes in your life can affect your auto insurance rates or coverage. If you’ve had lifestyle changes in the last year, talk to your Express Financial & Insurance Services agent in Santa Monica, CA, to see if you need to update your policy. The following events may require adjustments to your auto insurance policy.

Marriage

Marriage could qualify you for lower auto insurance rates as many insurers consider couples less of a risk in causing accidents. If you and your spouse have a good driving record, you could save even more by insuring your vehicles under the same policy.

Divorce

On the flip side, divorce will affect your insurance coverage as you’ll probably take your spouse off of your policy. Divorce could also terminate your “marriage discount,” which could result in paying higher premiums. 

Home Buying

Buying a home is a milestone in most people’s lives. This milestone could lead to saving money on your auto insurance by bundling your home and auto coverage.

Adding a Teen Driver

If your teen just got his or her license, adding him or her to your auto insurance will definitely alter your coverage. You may need additional liability or collision coverage to protect your assets. Your rates may also rise as teens are considered high-risk drivers. If your teen qualifies for a discount for completing a driver safety course or having a high GPA, it can help offset the rise in your auto insurance premium.  

Retirement

Retirement could make you eligible for lower insurance costs due to eliminating work-related driving. Driving less often reduces your risk of accidents. You may also want to reduce your coverage or eliminate the coverage that’s no longer needed after retirement to save on insurance costs.

To get quality auto insurance coverage at affordable costs, contact Express Financial & Insurance Services, Santa Monica, CA.

Recreational Vehicles: Insurance and Liability

Even if you were able to buy your RV for a nice low price, picking up an old fixer-upper and getting it up to your likings, an RV is going to be a little pricier to insure than a smaller vehicle based on the size alone. It comes down to liability. Essentially, a large vehicle can do more damage in a collision than a small vehicle, so liability coverage is priced accordingly.

Liability is the main reason why car insurance is a legal requirement in the first place. This is the policy that’s going to pay for medical expenses and damages caused in an accident. If you’re held responsible for the collision, then your liability policy is going to be what keeps you from paying out of pocket for damages for which you’ve been found at fault.

Liability is required if you drive your RV. This means that if you’re simply parking it on your Santa Monica, CA property to use as a sort of guest house, for example, or if you only take it out once every couple years, you don’t need to keep it insured. Just make sure that you’re covered if you are going to get behind the wheel.

It is worth noting that travel trailers do not generally require liability insurance. Any coverage you buy for a trailer is going to be to cover your own losses in the event of an accident. You’ll need to cover whatever vehicle you’re pulling your trailer with, of course. But the trailer itself does not require liability coverage in most scenarios.

If you’re looking to get covered or improve your insurance plan, give Express Financial & Insurance Services a call and see what they have for you.

Replacing Your Stuff is Expensive, Renters Insurance is No

Research shows that more people are renting at any point in the last 50 years.  However, of those renting only 41 percent carry renter’s insurance. Which translates to an alarming amount of people are putting their hard earned belongings at risk.  The experts Express Financial & Insurance Services know how expensive it can be to replace everything at once. That’s why the urge Santa Monica, CA residents to protect themselves with a renters policy.

Breaking Down Renters Insurance

Let’s think about it for a second; if you had to pay for all of your furniture, clothes, dishes, computers, etc. How long would it take? How much time did you spend at your job to make money to purchase all these things? Okay, now you have a visual in your mind of all the work you put in, think about having to do it all over again. While your landlord has coverage for the building you live in, your belongings are not protected under their policy. Imagine your apartment floods because the neighbor above you left the water running in his tub, or the house you are renting is damaged from a tornado ruining your furniture. Your stuff is your responsibility and rebuilding your life can be expensive. Renters insurance, however, is relatively cheap, and it can protect you from things like fire or theft.  Renters insurance also has personal liability, which can provide coverage for you if you accidentally cause damage to your rental.

Plus, as an added bonus, some insurance carriers will let you bundle it with an auto policy for additional savings.

Final Thoughts

If you are ready to start a conversation about protecting all your favorite things, give the insurance professionals at Express Financial & Insurance Services a call today. They are happy to help Santa Monica, CA residents find the coverage they need.

Can You Insure a Townhome with Condo Insurance?

Home insurance is a must and so is condo insurance for those properties that might not be a typical home. For those that live in a town home however, you can still use a condo policy to help cover your property. For those that live in the Santa Monica, CA area, the agents with Express Financial & Insurance Services can help you find the coverage that is going to work best for you.

For those that do have a townhome, condo insurance is going to work similarly for this type of home as a typical homeowners policy would. The main issue that you need to make sure you cover is that your townhome is part of a community. The main thing that sets a condo policy apart from a typical policy is that the home is connected to other homes and is part of a community of sorts. This type of policy is going to cover your unit and your unit only and is going to help cover for things like damages that are caused by other tenants as well as damages from typical things like storms, fire, and more.

A condo policy is going to help protect a townhome in that it is going to help protect you if your townhome is damaged by something that other your own fault. This means that if a fire breaks out in the adjacent townhome, your condo insurance can help cover the cost of repair and damages that may occur.

For those that live in the Santa Monica, CA area, the agents with Express Financial & Insurance Services can help you to create the perfect policy for your townhome and the issues that you may see with it.  

Can I buy health insurance at any time during the year?

Healthcare keeps changing, and it can be difficult to keep up with the current rules. One of the biggest changes are the rules about the relationship between the insurance company and the insured. 

The government has started requiring some kinds of specific coverages to be offered by the insurance company, while at the same time requiring people to purchase insurance policies. If you live in Santa Monica, CA, you can speak with the representatives at Express Financial & Insurance Services about how those changes apply to you.

The Healthcare Marketplace

Since 2013, there has been a marketplace run by the US government where Americans can search for economical healthcare options. Run on the site HealthCare.gov, it set up a system that was in many ways like the one people often had through their employers, with the same timespans including the open enrollment periods.

Individuals can still purchase their own health insurance through an insurance agent or through an employer or other organization, but the marketplace shows how much healthcare insurance has become standardized. 

Open Enrollment

Open enrollment is usually from the middle of October to the middle of January for California. During that time, anyone can get a new individual or family policy, or change the people who are on a specific plan. 

Otherwise people need to be able to claim a qualifying life event, which may include

  • getting married
  • getting divorced
  • having a baby
  • losing a job
  • or another kind of change.

There are other options, too, even if you don’t fall within one of the exceptions. If you live in Santa Monica, CA  and need a health insurance policy, or have questions about an existing one, please feel free to call Express Financial & Insurance Services today.

Should I Get Whole or Term Life Insurance?

One of the most important types of insurance that you need to consider getting is life insurance. When you are looking for a new life insurance policy, the two most common options are a term and whole life insurance. There are several factors to consider when you are choosing between these two different options.

Amount of Coverage

The first thing that you need to consider when you are shopping for life insurance is how much coverage you need to have. If you are looking for the most amount of coverage possible, getting a term life policy could be a great option. These insurance options typically will provide you with a high level of coverage for a specific period of time. However, after the term of the policy is over, you will lose all of the money that you put into it.

Investment Benefit

While life insurance is a security blanket for many people, it can also be used as an investment strategy. When you have a whole life insurance policy, some of the money you spend on premiums each month will go into an account that will appreciate in value. You will then have the ability to liquidate this money at any time. This helps to make a whole life insurance policy a good option for someone that is looking to diversify their investments.

If you are in the Santa Monica, CA area and are examining your life insurance needs, you should speak with the team at Express Financial & Insurance Services. The team at Express Financial & Insurance Services will be able to help explain to you all of the complexities that come with your life insurance options. They will also be able to help you to get into a great policy that meets all of your needs. 

5 Ways to Prepare Your Home for the Holidays

With the holidays fast approaching, now is a good time to prepare your home for visits from family and friends. It pays to prepare in advance so you can enjoy family visits when the time comes. Here are a few tips to getting your home in Santa Monica, CA ready for the holidays.

Declutter and Clean

Declutter your home to make it a safer environment and give you more space for entertaining your guests. Then start cleaning areas that visitors are bound to use or gather in. This includes the kitchen, bedrooms, living room and bathrooms. You should also include big projects like windows, carpets and floors. If you spread this work out over a few weeks, it will be done by the time visitors arrive.  

Stock Your Pantry

If you plan to do a lot of cooking over the holidays, stock your pantry with all the baking and food staples you’ll need. Having basic ingredients on hand makes it easier to whip up homemade desserts, appetizers and meals when needed.

Replenish Household Essentials

Replenish household essentials like toilet paper, napkins, paper towels, hand soap, toothpaste and shampoo and conditioner before guests arrive. You should also stock up on disposable plates, cups and silverware for snacks to simplify cleanup afterwards.     

Prepare Guest Bedding

Wash, fold and store guest towels and linens in a clean, dry place where they can be easily found. By doing this in advance, you’ll be well prepared to receive overnight guests at a moment’s notice.     

Update Home Insurance Coverage

Don’t forget to update your home insurance with Express Financial & Insurance Services before the holidays start. For help in renewing or updating your coverage, contact an agent from Express Financial & Insurance Services in Santa Monica, CA today.