Should you have additional auto insurance coverage for your teenage driver?

Are you currently experiencing all of the joys that come with having a teenage driver in your home? If this is your present reality, you may have a lot of questions about the best way to provide auto insurance for your family now that you need to insure a teenage driver. Don’t spend any more sleepless nights worrying if you have the appropriate coverage for your Peoria, AZ family, the team at Schaller & Thomas Family Insurance is here to answer your questions and help you determine which policy is appropriate for your family’s auto insurance needs.

There are several factors to consider when it is time to add a teenage driver to your family policy:

  • Teen drivers are more likely to get into a fender bender or accident than adult drivers
  • A lack of experience can cause a higher likelihood of damage to a teenager’s vehicle
  • You may have to pay more if you add a teenager to your family policy than if they have their own coverage

These are just a few of the many factors that may enter into to your decision-making process when it comes time to provide coverage for your family’s teenage drivers. We recommend that you consult with a local agent to understand all of the options that are available to you. It is an exciting time in the lives of any teenager when they gain the independence that comes with being able to drive, make sure that your family members have the coverage they need!

Find out what makes the most sense for your family’s unique situation by scheduling a consultation with the team at Schaller & Thomas Family Insurance today. We are proud to serve the Peoria, AZ area and look forward to working with you.

Who Should Purchase Mexico Insurance?

If you are planning to travel to Mexico in the near future, you may be interested in Mexico insurance. Even if you have auto insurance in the United States, authorities in Mexico don’t recognize the insurance coverage. If you plan to drive when you are in the country, it may be necessary to purchase before you leave to visit the country.

Mexico Insurance Coverage

If you are planning to drive, or even think you may drive when you are in Mexico, then you need to purchase Mexico insurance. You can’t drive in the country without this coverage, otherwise, you may find yourself in a serious situation. Don’t take chances in another country while driving. Purchase Mexico insurance from a reputable and knowledgeable insurance agency that will explain the terms and conditions and work with you to get the temporary coverage you need while exploring Mexico. 

Find The Right Coverage

Not all insurance policies and agencies are the same. Always work with a top agency that offers high-quality insurance products that will offer peace of mind and protection while you are away from the country. If you plan to visit Mexico anytime in the near future, contact Schaller & Thomas Family Insurance serving the residents in the Peoria, AZ area. They will work closely with you to outline your coverage needs and suggest products that work for your needs. 

For more information about Mexico insurance and how it can protect you when you drive in that beautiful country, consult Schaller & Thomas Family Insurance serving Peoria, AZ and the surrounding areas. Call or stop by to speak with a friendly agent ready to give you the details. 

Where Would Residents Need Umbrella Insurance?

Most people know that there are standard types of insurance such as home and auto that are designed to help you recover from a loss. There are some situations, however, that require coverage above and beyond standard coverage. If you live in certain areas, you may need to consider purchasing umbrella insurance coverage.

Purchasing Umbrella Insurance For Your Location

If you have a home that has a substantial value that is also used as a rental or a timeshare, for example, you may need umbrella insurance. This is especially true if you live in coastal areas where there are frequent damaging storms, or in areas where there are unexpected occurrences such as tornados or volcanos.  It will give you extra protection in the event of a claim against you, or as a result of damages from a natural event in addition to damages to a renter’s person or belongings. You may also want to purchase this insurance if you have valuables such as expensive art and jewelry with appraisals to back up your need for coverage. Consult your agent to find out how much Umbrella coverage you need to be secure. 

Reliable Coverage

People who require umbrella coverage need to know that they can rely on their policy to protect them in the event of a loss. Only work with an agency with agents who are experienced with this type of coverage and who can walk you through the process and help with any claim. If you require umbrella insurance in or around the Peoria, AZ area, you should contact Schaller & Thomas Family Insurance. They will assist you to find options that give you the coverage you need. 

If you think you could benefit from the protection of umbrella insurance based on your location and coverage need, reach out to Schaller & Thomas Family Insurance serving the residents of Peoria, AZ. They are looking forward to answering your questions and getting you the products you need. 

The Importance of Life Insurance

The purpose of insurance is to plan for the future and to protect what you have today. One form of protection is life insurance, yet many individuals do not take advantage of what life insurance offers. There will be a time where you are not able to provide for your family. With life insurance, you can continue to provide for them even after you’re gone. So whether you live in or around Peoria, AZ, Schaller & Thomas Family Insurance is here to help. 

You Won’t Always Be There

You will not always be there to provide for your family. Final expenses for funerals is expensive. These costs can quickly push into the tens of thousands of dollars. This also doesn’t include medical bills that will likely be attached to it. For some who do not have large bank accounts and investments they may not be able to pay for this. Life insurance is exactly that and it is there to provide money for not only final expenses but for your family for years to come. 

The Right Amount For Your Family

Not everyone needs the same kind of life insurance policy. What you need is going to be likely different from your neighbor. The team at Schaller & Thomas Family Insurance can work with you in determining the right coverage for what you and your family will need in life insurance. 

It is important to invest in life insurance as it will provide for your family even after you are gone. So if you have a family or, at the very least, want to prepare for the future, it is critical to consider life insurance. Whether you live in or around Peoria, AZ, the team at Schaller & Thomas Family Insurance is here to help. 

How a Good Home Insurance Policy Will Protect You

For most people, the biggest purchase that they will ever make is when they buy their first home. While a home is a place for you to live, it is also a very valuable asset that will eventually make up a larger part of your net worth. Because of this, those that are in the Peoria, AZ area need to make sure that they properly protect their investment with a quality home insurance policy. A home insurance policy can provide you with many different types of protection.

Protects Your Home

One of the most important parts of any home insurance policy is that it will provide you with protection for your home. When you own a property, you will want to make sure that you are protected against fire, theft, vandalism, or damage due to bad weather. When you have a full home insurance policy in place, you will receive this type of coverage. This will provide you with the financial protection that you need to feel comfortable and live with peace of mind. This coverage will also extend to your personal belongings. More expensive items could require a separate policy rider.

Liability Protection

When you have a home insurance policy in place, you also will receive some liability protection. If you own a property, you are taking on risk if you have a guest of any kind come to your home. If someone happens to be injured at your property, you could be found liable. The liability protection part of your home insurance policy will provide you with support if you are sued for liability. 

If you own a home in the Peoria, AZ area, you should speak with the team at Schaller & Thomas Family Insurance. The professionals at Schaller & Thomas Family Insurance will be able to help you better determine your home insurance needs and can get you into a policy that gives you the right type of coverage. 

Questions to Ask before Renewing Your Auto Insurance

Before renewing your auto insurance in Peoria, AZ, there are some questions you should ask your agent at Schaller & Thomas Family Insurance. This will help you make sure that you are getting the best deal and still receiving adequate coverage for your needs.

Can You Change the Deductible?

If you can change the deductible, see how it can make a difference in the premium you pay. If you have a higher deductible, you can pay less on premiums. However, keep in mind that if you do have to file a claim you will be held responsible for the higher deductible.

Can You Review the Current Information?

It’s also good to make sure the information on file is correct. An insurance company in Arizona should be notified of any major changes, which include job changes, adding new drivers, and updating your marital status. However, it can be difficult to remember to update your insurance company when some of these things happen, so doing it at your renewal is necessary.

What Are the Full Coverage Options?

Ask your agent if full coverage is necessary. If your vehicle is older, you may not want to spend the money on comprehensive and collision coverage. Know the actual cash value of the car, in order to help make these changes.

Are There Any Discounts?

If you have had a good driving record in Arizona, you may be able to get a discount for not having any claims. It never hurts to ask about discounts and there could be discounts you haven’t thought of before.

How Will Claims Be Handled?

While the goal of insurance is to not have to use it, sometimes you will have to file a claim. By figuring out how a claim is handled during your renewal process, you can get the information you need to feel comfortable in the event you need this.

Contact Schaller & Thomas Family Insurance, serving Peoria, AZ, to get a quote on auto insurance.

 

Does Your Teen Need Auto Insurance If They Just Have a Permit?

Before your teenager can obtain their driver’s license, they are required to have a permit. A learners permit has different rules than a drivers license, such as needing a licensed adult in the car with them at all times when they are driving. A permit is designed to give your teen the chance to learn how to drive before they get a license and can drive on their own. One of the questions that we at Schaller & Thomas Family Insurance, serving the greater Peoria, AZ area, are often asked is whether you need to add your teen to your auto insurance policy when they just have a permit. Read on to find out the answer. 

Most auto insurance policies do not require you to add a teen to your auto insurance plan if they only have a permit. Most require it only when your teen is licensed. However, you should never just assume that they do not need to be added. Calling your insurance carrier and asking is the best way to handle this situation. Your insurance carrier can let you know for sure if your teen needs to be added when they have a permit or whether they do not need to be added. 

In most cases, your teen does not need to be added to your auto insurance policy if they only have a permit. But soon enough, they will be getting their license and they will need auto insurance. Now is a great time to think about updating your policy and finding an affordable one for your teen. Here at Schaller & Thomas Family Insurance, serving the greater Peoria, AZ, we can help you find the right auto insurance. Give us a call now to get started. 

What is Mexico Insurance

It is always fun to travel outside of the United States but sometimes things happen while you are abroad that can make your trip less than fun. For those traveling outside of the United States to Mexico, you can purchase Mexican insurance to help keep you safe while you are out and about in Mexico. For those in the Peoria, AZ area, the agents with Schaller & Thomas Family Insurance can help you find your perfect policy.

So what is Mexican insurance? First and foremost it helps to protect the traveler while they are away. Though your typical health insurance might cover some things, it may be difficult to get medical help for instance in Mexico if you are using American insurance. With a Mexican insurance policy you can get the help you need with a bit more ease. This type of insurance may also cover things like theft, collision, vandalism, legal assistance and more.

It acts as an umbrella coverage to help protect you while you are out of the country so that you are going to still be safe and protected without your having to buy a long-term policy or having to buy a policy once you get to the country you are visiting. This is not a coverage that you will need if you are staying for a day or two then coming back. This type of insurance is best for longer stays or for stays where you may be driving or traveling within the country that you are visiting.

For those that live in the Peoria, AZ area and are thinking of taking out a Mexican insurance policy, the agents with Schaller & Thomas Family Insurance can help you find a policy that works for you and that works for your particular travel needs.

I Already Have Homeowners Insurance! Why Do I need Umbrella Insurance?

If you are a family with established assets you want to protect you could stand to lose a significant amount of money in the event of a lawsuit due to injury or liability. If you are sued, you could forfeit any assets you have built, including savings and investments. While the wealthy are at risk for liability, and libel claims, so are people who have no significant assets. While you might just be starting out in your career and have no tangible assets now, you have future assets that can be targeted, and a court can award benefits to a third party if you are held liable for injuries or damages. Having basic Peoria, AZ homeowners insurance is no guarantee that you and your future assets are safe in the event of an injury or claim. 

What Does Umbrella Insurance Do? 

Umbrella insurance provides added coverage above and beyond your homeowners insurance and protects your assets or future financial gains. It kicks in when a claim is more than what your homeowners, car insurance, or personal insurance policy limits are exhausted.  

What Does Umbrella Insurance Cover? 

Umbrella liability insurance provides a variety of protection from issues that arrive from personal and professional claims. For example, umbrella insurance from Schaller & Thomas Family Insurance protects you against claims of liability and slander whether related to home or business, in addition to: 

  • Excessive medical bills 
  • Lost wages due to negligence 
  • Rehabilitative therapy 
  • Litigation costs from injury or property damage 
  • Legal defense costs

I Have No Assets! Why Do I Need Umbrella Insurance?

You may have no assets now, but a court can obligate you to pay off damages awarded against your future earnings. For example, if you are a student studying for a higher degree, or are expected to be eventually promoted to a higher-paying position, when facing a lawsuit, your future projected earnings can be targeted. 

At what age should I take life insurance?

There is a lot of debate as to whether it is right for parents to purchase life insurance for their newborns. Life insurance is typically age-banded. Therefore, you can choose to purchase life insurance in Peoria, AZ right after birth. Here is a quick look at some of the available life insurance options at Schaller & Thomas Family Insurance and the considerations you should make.

Whole life insurance

It is possible to make a prepaid lump sum payment for a minor in a whole life insurance policy. When the child turns 18, he or she can decide to continue funding the policy as the insured or cash it out if the policy holds equity.

It is important to remember that the cash value of your personal life insurance grows tax-deferred. Hence, contributing to a whole life insurance plan over a long-term time horizon will accumulate considerable value, especially if it was purchased at an early age. This is possible because the policy’s cost is fixed for its entire term. Your child can use the cash values accumulated from the whole life insurance to buy his or her first home or supplement retirement home purchase if held for long enough. The primary function of personal life insurance is based on income and debt categories.

Life Insurance and Debt

When joining the workforce, fresh from college, a college graduate can also obtain credit to fund housing costs. Since card balances are supposed to be paid upon the death of the cardholder, acquiring unsecured debts can place a huge burden to the debtor’s estate. Ideally, the graduate buys a life insurance policy to help him or her cover the assumed debt. But, most individuals at this age will prefer paying their current bills rather than acquiring new or additional one.

While the optimal age to consider buying a personal life insurance is under 35, a majority of millennials are not likely to purchase the policy. Take the initiative to protect your future and that of your loved ones by investing in a life insurance from Schaller & Thomas Family Insurance. For more information on life insurance in Peoria, AZ, contact our knowledgeable life insurance agents today.