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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. 

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. 

I Just Started a Salon, Should I Purchase Commercial Insurance?

A beauty salon carries out different activities like cutting hair, coloring hair, waxing, manicure, pedicures, etc. Insurance is important because as we know, life is full of the unexpected, things can go wrong at any time. Commercial insurance for your salon will cover you for example when an angry customer gets an allergic reaction to one of your beauty products. Read on to see more reasons why you definitely need to ensure your business.

Express Financial & Insurance Services is an insurance agency in Santa Monica, CA, that can answer all your insurance questions. Call us today, to get the assistance you need.

1. Commercial insurance covers you for any necessary repairs or replacement

With frequent use a hair dryer can stop functioning or a chair can fall apart. In that case, you may be left with fewer work stations or be forced to close your shop until all repairs are done. Commercial insurance pays for repairs in a timely manner, allowing you to commence your business activities.

2. Insurance covers any business interruption

Maybe you decided to start selling hair and beauty products in your salon to increase your profits, and you use the products on your clients too, however later on the products are recalled. The recall can make you lose customers as they may assume you were putting profits ahead of product safety. Eventually your business may drop drastically. Having a commercial insurance cover will help you recover from such a financial loss that results from business interruption.

3. Professional liability insurance protects against lawsuits

In a busy day at your salon, one of the stylist might accidentally burn a chunk of a client’s hair while using a straightener. The client may decide to sue you for this, therefore having a professional liability insurance will save you from the expenses.

4. You are covered in case a fire breaks out

Products used in a salon are usually flammable and if proper precaution is not considered, a fire may break out leading to damage to property. Commercial insurance could help cover the costs.

Express Financial & Insurance Services is an insurance agency in Santa Monica, CA that offers well-studied insurance policies. Call us today to know more.

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.