Do You Need to Report Home Renovations to Your Insurance Agent?

Remodeling your home is a great way to increase property values and improve the overall quality of life for your family. However, before anyone picks up a hammer or starts coming up with design ideas, it is important to talk with your Santa Clarita, CA insurance agent. Here’s what you need to know.

Why It Is Important to Talk to Your Insurance Agent About Home Renovations

Before you start any projects, it is a good idea to schedule an appointment with your homeowner’s insurance agent. Why?

For starters, having contractors in and out of your home during the process raises the risk of an accident or guest injury from occurring. This is why many property owners opt to increase their level of liability coverage during a project.

Next, any improvements made to your home can increase the value. If there was a sudden fire or another source of major damage, this would make a difference in the replacement cost to rebuild. Certain renovations can also increase the square footage of your home, which also affects coverage. By letting your agent know what’s going on, they can adjust the policy accordingly to ensure your home is totally protected.

Changes in Life Require Changes in Insurance Coverage

Whether you’re looking at adding extra space or just updating the cosmetic look of your home, it is incredibly important to communicate with your Santa Clarita, CA insurance agency. At WPL Insurance Services, we want to make sure your policy meets the needs of your family while providing you total protection. If we don’t know that you’ve made a major upgrade to your home, it makes it harder for us to do our jobs.

Are you ready to learn more about how renovations affect your homeowner’s insurance coverage? Please contact our WPL Insurance Services team today.

Should You Consolidate Your Auto Policy When You Marry?

You have probably heard that you should consolidate your auto insurance when you get married, but if you watch the TV show “The Closer” you probably remember when Brenda and Fritz got married and Brenda found out her auto insurance cost would nearly double if they bundled it. That was because Fritz had not one, but two DUIs he had neglected to mention. While TV often gets the details wrong, in that case, the scriptwriter nailed it. This blog discusses the advantages and disadvantages of obtaining your auto insurance as a couple once you marry, so you know whether to keep your policies separate or not.

True fact: Most married couples do cut their premium costs by combining coverage. 

Getting married reduces your risk in an insurer’s eyes including WPL Insurance Services of Santa Clarita, CA. Married people take fewer chances and their typically safer driving styles are born out in statistics and surveys.

Married folks might save between five to 25 percent on a policy depending on their records and the insurer. You could net a multi-policy discount by obtaining both auto and home insurance through the same agency.

You should keep your policies separate when one half of the happy couple has poor credit, a bad driving record, or drives an expensive vehicle, especially a sports car. 

There is a difference between a speeding ticket a couple of years back and a DUI. The two do not both equal a poor driving record. DUI or DWI on a record reflects poorly on the driver’s responsibility.

Conviction of a DUI or DWI usually results in the driver needing to move to an insurance agency that serves high-risk drivers. They will only be able to obtain minimum coverage. The spouse with no conviction can use any insurance agency and obtain full coverage but will need to exclude the spouse from coverage and bar them from operating their vehicle.

Contact WPL Insurance Services today to find out whether you should combine your auto insurance now that you are a married couple in Santa Clarita, CA. We can help you determine the best alternative and help you cover your vehicle.

Does Commercial Insurance Cover Off-Premises Business Possessions?

In Santa Clarita, CA, just about any home insurance policy is going to provide some protection for the off-premises property. That is, if your laptop is stolen from your car, it’s covered. But, your commercial property insurance might not offer that same protection, or it might offer very limited protection in that regard.

Every business insurance policy is different. Some insurance policies don’t cover any property at all. If your business is all online, for instance, you don’t really have any property to insure, you’re just covering for liability. So a commercial policy is not going to automatically provide protection for the off-premises property.

The only way to be sure is to read your policy, and if you’re not covered, call your agent and see what they can do for you.

You may find that you are offered some protection for off-premises property, but only up to half the limit of the on-premises property. This means that if a truck moving your whole business to a new location is totaled, along with everything in it, you’re only getting half of your investment back. So even if you have some protection, you want to make sure that you have enough.

If you’re shopping around for insurance for your Santa Clarita, CA business, whether it’s a new company or you’re just looking for a new provider, you can call us at WPL Insurance Services, stop by the WPL Insurance Services office, or get in touch through the website. You don’t want to run a business without adequate insurance protection, so get in touch as soon as you can and let’s see what we can do to protect you and your business.

How Often Should You Review Your Home Insurance Policy?

Reviewing your home insurance policy is an important part of making sure you have the right level and type of coverage to meet your needs and protect your present and future. Generally, there are two reasons to review your policy. Either you’ve had a change that you need to incorporate, or it’s simply been a while since the policy’s been looked at. Either way, WPL Insurance Services can help. We want to be sure all our Santa Clarita, CA customers can get the help and support they need, in order to have quality insurance coverage from a company and agents they can trust.

If you haven’t had any changes to your household situation, you can probably have your insurance policy reviewed once every year. That’s a great thing to make time for right around your renewal date, just to ensure you’re getting the best coverage. But if you have changes that take place at other times during the year, you may want to have your policy renewed earlier. That can give you the peace of mind that comes with knowing your insurance policy is protecting you and your loved ones, along with your material possessions. Your agent can give you great advice about what kinds of changes might need policy updates, and the frequency of policy reviews that will be right for your situation.

If you’re ready to have a review of your home insurance policy, contact us at WPL Insurance Services today. Our agents will be happy to answer your questions and give you the information you need to make an informed decision. If you have a home in or around the Santa Clarita, CA area, we can provide the services you’re looking for to make sure your house is properly protected. Then you can focus on all the great things the area has to offer, instead of worrying about protection for your home.

How Much Auto Insurance Do I Need in Santa Clarita?

Drivers in Santa Clarita, CA may not have to contend with the same levels of traffic as their counterparts in downtown Los Angeles, but that doesn’t mean they don’t come up against their fair share of risks. WPL Insurance Services wants to give you a few tips, so you don’t have any regrets about policy. 

Bare Minimums 

The bare minimum of coverage in Santa Clarita will be different for every person. If you own your car outright, you’ll have very different criteria than those who lease or finance it. The main thing to consider though is that the bare minimum may not be enough for you. From liability limits to theft coverage, you may not be addressing all of the potential threats that can threaten you or your vehicle should something happen. 

Assess Yourself 

You’re perfectly free to take on as little coverage as possible in Santa Clarita, CA so long as you acknowledge (and plan for) the risks. If your car is stolen or totaled and your auto insurance doesn’t cover it, will you be able to replace it? How will you pay for excessive damages if your liability limits are exceeded? These important questions are easier to answer when you can talk to someone you can trust. 

Call WPL Insurance Services

Starting a conversation will usually lead to more answers than looking over a sample auto insurance policy will. There’s no way to list every possible event that may happen in Santa Clarita, but you can get a better sense of how you can protect yourself with better coverage. When you talk to our staff, we can start giving you the most common scenarios in your neck of the woods. If you still want to take the chance, at least you’ll know what you’re getting into. 

4 Things To Look For In A Commercial Insurance Policy

At WPL Insurance Services in Santa Clarita, CA, we have seen many cases of business owners ending up with a commercial insurance policy that is not the best for their company. Some of them erroneously pick the wrong policy because they were not duly informed before they made the decision.

So, we want to discuss the things to consider before choosing any commercial insurance policy.

1. Limits of liability

This is the maximum amount an insurance company will pay for a single claim no matter what the situation is. The problem with this is that it may not be enough to fix the problem. So, if you feel the limit is too small, you have two options. Find out if you can increase the limit. If not, then you should look for another policy.

2. Deductible Vs Premium

The deductible is the amount of money you pay out of pocket to fix a covered issue before your insurance company pays the remaining part. For example, if you choose a policy that requires $20,000 deductible. When you make a $200,000 claim, you’ll have to pay $20,000 and your insurer will pay the remaining $180,000.

3. Does it cover all your risks?

You must confirm what the policy covers. For instance, if you run a website development company and you don’t need vehicles to carry out your business activities, you don’t need a commercial auto insurance policy. It is a mere waste of money.

4. The credibility of the insurance company

While we pay claims promptly, some insurance companies may delay your payment, hoping to find a hole in your situation so they can decline your claim. That is why you should purchase insurance from only a reputable insurance company.

To summarize this piece, the things to consider before purchasing any commercial insurance policy are:

  • Limits of liability
  • Deductible vs premium
  • Does it cover all your risks and do you need the coverage it provides?
  • Is the insurance company reputable?

For more information, contact us at WPL Insurance Services in Santa Clarita, CA.

Three things to know about replacement cost home insurance

When you are selecting a home insurance policy, one major decision you need to make is whether you want a replacement cost or actual cash value policy. Both types of policies are available to Santa Clarita, CA through insurance providers like us at WPL Insurance Services.

The following are three things you should know about replacement cost home insurance. 

Replacement cost insurance will compensate you for the full value of completely replacing your home if it is completely destroyed.

If you choose replacement cost insurance, your home insurance provider will need to calculate replacement costs for your home if you file a claim. This means that any depreciation your home has experienced shouldn’t detract from the amount you are compensated for a claim. 

Replacement cost insurance compensates you more in the event of damage than actual cash value policies. 

The primary alternative to a replacement cost insurance policy is an actual cash value policy. Such policy factors depreciation into your compensation amounts. This means that you’ll get less for claims if you have an actual cash value policy than you will with a replacement cost policy. 

Your premium payments will be a little higher if you opt for replacement cost insurance. 

While replacement cost insurance will typically compensate you more, it will also cost more in your monthly premiums. If you’re looking for a policy offering the lowest monthly premiums, you might want to opt for an actual cash value policy. 

If you’d like to learn more about replacement cost insurance or other home insurance options in Santa Clarita, CA, get in touch with us. We’re here to answer all your questions at WPL Insurance Services. 

What Auto Insurance Deductible Should I Choose?

Of all of the most commonly asked insurance questions in Santa Clarita, CA, “What deductible should I choose?” is at that top of the list. The truth is, there is no one size fits all answer to this question. You can decide which is best for you by understanding deductibles and how they affect you. Here at WPL Insurance Services, we believe in helping clients make informed decisions, so we put together this quick guide:

Understanding Deductibles

Your deductible is the amount of money you must pay out before your insurance company will pay any money toward a covered accident. For instance, if you have an accident that causes $6,000 in damage to your car and your deductible is $1,000, you must pay that $1,000 before the insurance pays the other $5,000- provided that $5,000 is within your coverage.

There is a direct correlation between your deductible and your premium. When you choose a higher deductible, your premium- or monthly payments- is lower. When you choose a lower deductible, your premium is higher.

Choosing Your Deductible

Choosing your deductible should revolve directly around the answers to these questions:

  • If you were in an accident, how much could you afford to pay for your repairs? The answer to this most likely lies within your savings account or emergency fund. Logically speaking, if you do not have money saved up, you are probably better off with a lower deductible and higher monthly payments.
  • Are you leasing your car? Most people that are leasing choose a lower deductible. This is because if there is an accident, they must return the automobile in good, working condition. Choosing lower deductible provides better coverage should an accident occur.

There are other considerations, such as how often you have accidents, but the two mentioned above are some of the most common factors. If Santa Clarita, CA residents have any questions or need help deciding on a deductible, give WPL Insurance Services a call or stop by today. 

 

Protect Your Business With Commercial Insurance

Your business represents a massive investment of time, hard work, and money. So if anything were to happen to it out of your control, it might set you so far back financially that you are not able to recover. Your business is your livelihood. It may also be the livelihood of employees as well. This is why you need to protect your business with the right commercial insurance. If you operate your business around Santa Clarita, CA, the staff at WPL Insurance Services wants to help connect you with the right coverage for your company.

Property Commercial Insurance

It doesn’t matter if you rent out your place of business, you need property commercial insurance. This goes beyond protecting the physical location. It protects the equipment you have inside. If you rely on computers, machines, or other hardware, it is essential to protect this. What would you do if the equipment went down for a few weeks? It might put you out of business. With the right property insurance, you’ll never be forced to deal with it. 

Worker’s Compensation

When you have employees, you will need to consider worker’s compensation. When injured on the job, you may be liable for their medical expenses and time off. Trying to pay this out of pocket is extremely expensive. Worker’s compensation can help.

It doesn’t matter what kind of business you run or the services you provide. It is essential to protect it with the right form of commercial insurance. Attempting to navigate the world of commercial insurance is not easy, though, which is why you need to turn to WPL Insurance Services for assistance. With experts specializing in commercial insurance, your Santa Clarita, CA business is in excellent hands. All you need to do is pick up your phone and give us a call. 

Dog Bites and Homeowners Insurance

Those who own dogs are usually proud to have these canines as members of their families. Although the vast majority of dogs are friendly and well-mannered, from time to time, even the sweetest dog may have a bad day. If your pooch’s bad day includes a nip or a bite toward someone who is not in your family, you may be worried about your liability for someone’s medical bills. If you have questions about dog bites and your homeowner’s insurance in Santa Clarita, CA, read these tips from WPL Insurance Services.

Dog Bites are Common.

If your dog has bitten someone, you probably feel pretty ashamed about the whole thing. However, keep in mind that dog bites are one of the most common claims that homeowners insurance companies receive. Don’t hesitate to reach out to your insurance agent and discuss the whole situation with them. They can advise you on how to proceed.

Choose Your Dog Breed Carefully

If you haven’t yet gotten a dog and you’re considering one for your family, you may want to check with your insurance agent first. Some homeowner’s insurance policies will not cover dog bites if you own certain breeds of dogs. Often, this is related to dogs that are illegal in your jurisdiction. Check out the legalities before you take the dog home.

You Can Buy Extra Insurance for Dog Bites

If you have a nervous neighbor and a highly excitable dog, you may want to purchase extra insurance coverage specifically for the possibility of a dog bite. This means that if someone does get bitten and their bills exceed the standard liability on your homeowner’s policy, you will still be able to pay for their needs. 

If Your Dog Has Bitten in the Past

If your dog has a history of biting, your homeowner’s insurance may inform you that bites from that dog will no longer be covered, regardless of the breed of the dog. You may need to either keep the dog confined away from other people or find him a new home.

If you need advice about a dog biting situation in Santa Clarita, CA,  contact an agent at WPL Insurance Services.