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Featured Insurance Blog

Equipment Breakdown Coverage: What It Is and How It Can Help Your Business

Regardless of the industry, you’re doing business in, you will be unable to move forward with your business and make money if you suffer an equipment breakdown. In situations like these, equipment breakdown coverage as part of your overall commercial insurance policy can come in handy. Affordable Insurance Inc wants to share more information about equipment breakdown insurance with Mountain Home, AR residents.

What Exactly Is Equipment Breakdown Coverage?

When you have a commercial insurance policy for your business, equipment breakdown coverage, equipment breakdown coverage is an additional yet optional coverage option. The main purpose of this coverage is to cover any cost of repairs/replacements of malfunctioning or damaged equipment. Depending on your exact policy, it could reimburse you for lost income as a result of the failure.

For example, if you are a restaurant owner, it would be impossible to cook food, provide lighting for the space, or run your payment systems if there is a power outage. If this outage lasts for several days, you may end up dealing with spoiled inventory. In the end, you could be out thousands of dollars or more. Equipment breakdown coverage can come to the rescue.

What Kinds of Situations Are Usually Covered?

Equipment breakdown coverage can cover anything from mechanical issues and faulty equipment to unexpected HVAC breakdowns. Almost anything that causes your business to be shut down and no longer able to serve clients or customers is typically covered. If you are curious about a particular situation, don’t hesitate to speak to an insurance agent.

For more specific commercial insurance questions related to your individual business in Mountain Home, AR, contact us at Affordable Insurance Inc today.

Getting your home ready for the cold weather

As the temperature goes down and the thermostat goes up, it is time to get your home ready for the cold weather.  As the days get shorter and you get out the sweaters, scarves, and mittens, it’s time to think about all the things that you need to do before the winter winds hit. At Affordable Insurance Inc in Mountain Home, AR, we have been striving to provide the finest in customer service since 1995. We realize that happy customers are the foundation of our business.

Clear outdoor areas

If you have faucets that you use outdoors in warm weather, the danger of freezing weather becomes a reality. It is time to drain them and shut them off. While you are at it, bring in any hoses that might be outdoors. Time to take the outdoor lawn furniture and store it away until the warm weather returns. 

Get the furnace cleaned

Before it is time to turn on the furnace, it should be inspected and cleaned. This makes it more efficient and you won’t get an unpleasant surprise the first time you turn it on. Check the batteries on your carbon monoxide detector and smoke detector. 

Clean the chimney

If you have a fireplace, cleaning the chimney is a must before you light your first fire of the year. This is a job best done by a professional. 

Check for leaks

Get a caulk gun and check your windows and doors for places where the heat can escape. A little caulk can save you a lot of money. 

Change from screens to windows

If you have been using screens during the warm weather, it is time to put down the storm windows. This goes for storm doors too. 

Contact Affordable Insurance Inc in Mountain Home, AR to talk about your home insurance needs. 

How Does Renters’ Insurance Work?

When you rent your home, you need insurance on it to keep yourself protected from a number of financial dangers. Unlike home insurance, your renters’ insurance doesn’t cover the home itself. That coverage is the responsibility of the actual owner. Renters’ insurance instead offers a number of different types of protection all in one policy. If you need a renters’ policy, call us today at Affordable Insurance Inc in Mountain Home, AR.

Protection for Your Belongings

Most of what you own is likely in your home, and it should be protected by insurance. Many people seek out renters’ insurance specifically because it protects their possessions, though it does offer a number of other kinds of protection. When a covered event happens, such as a disaster, and your items are destroyed or damaged by it, your renters’ insurance policy will pay for the items to be repaired and/or replaced. This coverage is valuable for every renter. No one wants to have to start over after a big incident ruins their things. 

Accommodation Protection

If something does happen and your rental becomes unlivable, it can be tough to afford to go somewhere else to live while it is being fixed. However, this is exactly what your renters’ insurance policy will pay for. It will help you to move and to stay somewhere else until your rental is habitable again. This is an important protection for your standard of living. It can also prevent you from having a financial disaster if you do have to live elsewhere for a while. 

Get Your Renters’ Policy

If you rent, renters’ insurance is a must. It may even be required by your landlord. If you don’t yet have a policy for your rental, contact us today at Affordable Insurance Inc in Mountain Home, AR to find out more. 

How Does RV Insurance Work?

Recreational vehicles are a great way to travel, and they can serve as your home away from home. Recreational vehicle insurance is a unique type that covers both the home part of the vehicle and the truck part. If your RV doesn’t yet have RV insurance, give us a call at Affordable Insurance Inc in Mountain Home, AR to find out more.

RV Classes

The RV policy that you get has a lot to do with which class of RV you own. Each RV belongs in one of three classes based on its size and design. Class A is the largest of these classes with RVs included that can be up to 75 feet long. These are usually converted buses and motor coaches of the type often used for group travel. Class B RVs are among the smallest of these vehicles. The design with these does not have an area over the cab. These RVs tend to be travel trailers, campers, etc. RVs in class C are vehicles that are created by using a cargo van and blending it with a camper section that extends over the cab. Before you get an RV policy, tell your insurance agent which class your RV is in. 

Full-Time and Part-Time Insurance

Your RV insurance policy is also decided by how often you use it. There are RV policies for those who live in their RV full time as well as those who use their RV regularly or occasionally. Full-timer insurance is generally more expensive since the RV will constantly be in use. The age of the vehicle and its make also factor into your policy and its price. 

Get RV Insurance

Your RV should always be covered by RV insurance, so don’t let a day go by without it. Contact us at Affordable Insurance Inc in Mountain Home, AR. 

How Motorcycle Insurance Works

Motorcycles are amazing vehicles to ride, but they do come with their own risks. You can protect your motorcycle against many of these risks with a motorcycle insurance policy. To get your ride covered, call us at Affordable Insurance Inc in Mountain Home, AR.

Liability Coverage

As with auto insurance, motorcycle insurance comes in a number of coverage types. Liability coverage includes both bodily injury liability and property damage liability. If you were to cause an accident to another party with your motorcycle, your liability coverage would pay for the resulting bills up until your policy’s maximum is reached. This is an incredibly important insurance to have, as it protects you against lawsuits filed against you and other financial problems. It is also required to have both bodily injury liability and property damage liability coverage for motorcycles in Arkansas. 

Comprehensive and Collision Insurance

You can also choose to get comprehensive insurance, which covers the bike for damage and loss that is not due to a collision. Many different risks are included in this coverage, and it can help you to get back on the road faster after an incident that causes motorcycle loss or damage. There is also collision insurance. This covers the damage to your motorcycle if there is an accident that is your fault. It can also include bodily injury coverage, which pays for your resulting medical bills after an accident. You can also choose to get coverage for underinsured and uninsured motorists who cause an accident with your bike. 

Get Your Motorcycle Policy

Don’t drive your motorcycle without having the appropriate coverage for it, including the minimums required by the state. To find out more about motorcycle coverage, give us a call today at Affordable Insurance Inc in Mountain Home, AR to talk with an insurance agent.

Arkansas Boat Insurance — Does Your Boat Need Pollution Liability Coverage?

When you are looking for Arkansas boat insurance, you may hear the term pollution liability insurance. In Arkansas, you likely aren’t required to have boat insurance at all, unless your lender asks for it.

At Affordable Insurance Inc., we want Mountain Home, AR boat owners to be covered for every risk. That includes pollution liability insurance for your boat. You don’t want to realize that you need it when it is too late.

What is Pollution Liability Coverage in Boat Insurance?

Pollution liability coverage is coverage that protects you against the liability of pollution. Maritime laws are very protective of any toxins that may spill into the waters you take your boats on.

If you are found to be spilling toxins such as fuel or oil, you may be held liable for the cleanup of those spills. Pollution liability coverage will cover those costs.

Things you could be held liable for include:

• Gas or oil dripping from a nozzle when you fuel your boat
• Leakage from the bilge into the water
• Leaks from seals and lines
• Pollution from sinking, explosion, and fire

The Coast Guard requires you to notify them or any local authority in the event of a spill or leak into the water. It is your responsibility to contain the spill and clean it up as soon as possible. This could be very costly, depending on the spill.

What Does Pollution Liability Cover?

Pollution liability insurance for your boat will cover the costs of clean-up and any legal defenses that you might have as a result of a spill. It will also cover the operating costs of oversight or an accident if you add that to your policy.

Get a Quote

Having a boat in Arkansas is a big responsibility. At Affordable Insurance Inc., we want Mountain Home, AR boat owners to be protected from pollution liabilities. Call us for a quote today.

Do I Need Condo Insurance in Mountain Home AR?

Owning a condo in Mountain Home, AR has a satisfying feeling. Condos are a convenient alternative to single-sized family homes and provide an ideal opportunity to live near urban centers. 

However, even as you enjoy your new home, you need to think about condo insurance. While you are contributing towards condo association, this master policy covers common areas and the exterior of your dwelling. Unfortunately, this policy doesn’t protect your assets and the interior of your dwelling. And folks, that’s where condo insurance kicks in.

When you buy condo insurance from Affordable Insurance Inc., it comes with the below benefits. 

Loss of use

Unfortunately, your beloved home can be rendered unlivable due to a covered loss. In such instances, you need to relocate as your condo undergoes repairs. But since your relocation isn’t free, you will incur additional living expenses in your temporal residence. Thankfully, condo insurance can help cover expenses above your everyday living costs. 

Covers your personal assets

Your assets like electronics, furniture, and other belongings face risks like theft, fire, vandalism, water damage, and so forth. The good news is that condo insurance can bail you when such disasters destroy your assets.

Liability coverage

Suppose you host a party and an intoxicated guest falls, injuring their head. Or perhaps, your nephew throws a ball and breaks your neighbor’s window. In both instances, condo insurance can help cover the liabilities facing you. Condo insurance covers medical costs and property damage claims from third parties. 

Protects the interior of your dwelling

Your COA master policy covers the exterior of your dwelling but not your condo’s interior. That said, you need condo insurance to protect the walls, floor, fixtures, and other fittings of your condo. 

Purchase condo insurance today!

At Affordable Insurance Inc., we provide personalized and affordable insurance plans to the residents of Mountain Home, AR, and its surroundings. If you are looking for condo insurance coverage, please contact us today.

BOAT & WATERCRAFT INSURANCE

Affordable Insurance can help make your time on the water relaxed and worry-free! We will find you comprehensive protection that protects you, your friends and family, your watercraft and your boating equipment. The average boat costs less than a dollar a day to insure. You’ll enjoy being on the water even more when you aren’t worried about your safety, the safety your passengers, or your investment.

Arkansas – Do you know what to look for in a watercraft insurance policy? Affordable Insurance can help you determine the right amount of coverage to meet your specific needs. Just give us a call today at 870-425-6079to get started. Here are some items you’ll need to consider when shopping for boat insurance in Arkansas.

  • Navigational Area:
    Know where you are covered in the water. Some companies, such as Safeco Insurance, offer protection that covers you up to 75 miles from the U.S. coastline; into Canadian coastal or inland waters; and into the Pacific coastal waters of Mexico. In California, Florida and Oregon, additional coverage area can be purchased.
  • Agreed Value Coverage:

Watercrafts depreciate just like automobiles. Actual cash value policies can make it difficult to replace a boat that’s been stolen or destroyed. This means that if your boat is a total loss you will get the value you insured it for, minus any deductible.

  • Liability

Like car insurance, personal liability coverage provides coverage to other boaters and boat owners in the event you are at-fault for an accident on the water. This coverage will pay to repair or replace the property of someone else as well as for their medical care, lost wages and other costs incurred as a result of a boating accident for which you are at-fault.

  • Medical Payments

Medical payments coverage will pay for the cost of needed care that is the result of a boating accident. This coverage is available from $500 to $10,000 and covers you, your passengers, and even your water skiers/tubers, regardless of who is at-fault.

  • Physical Damage Coverage

Physical damage coverage pays for the cost to repair or replace your watercraft, its motor, any permanently attached equipment, and your trailer, if it is stolen or damaged.

  • Uninsured/Underinsured Watercraft Bodily Injury

Since boat coverage is not always mandatory, many boaters choose not to get insurance. If you are hit by an uninsured or underinsured boater, and you are injured, this type of coverage pays for medical treatment, lost wages, and other costs associated with the accident.

  • Fuel Spill Liability and Wreckage Removal

Should your boat sink or be seriously damaged, there is a chance that it could leak oil or fuel into the water. As the boat’s owner you are required by law to have this cleaned up, which can be time consuming and expensive.

  • Personal Effects

Your policy can provide coverage for many personal effects, including clothing, jewelry, cell phones, scuba/snorkeling and other sporting equipment, and fishing equipment. Limits vary by state – check with

Affordable Insurance for information. Personal effects coverage does not include jewelry, watches or furs.

  • Unattached Equipment Coverage

This pays to repair or replace equipment that isn’t permanently attached to your boat or personal watercraft, but is designed for use primarily on a boat. This includes items like lifesaving equipment, water skis, anchors, oars, fire extinguishers, tarps etc.

  • Emergency Assistance

The Emergency Assistance Package provides coverage for towing, labor and delivery of gas, oil or loaned battery if the watercraft is disabled while on the water.

 

Every need is unique – contact Affordable Insurance today Call 870-425-6079 to find out how to get the best boat and watercraft insurance coverage for you.

How to Select the Best Homeowners Insurance Coverage. Call Affordable Insurance today 870-425-6079

How to Select the Best Homeowners Insurance Coverage Call Affordable Insurance 870-425-6079
Insurance Advice for New Homeowners

Buying a home is an exciting, new adventure. One of the many decisions you will make is how to insure your new home.

The Insurance Information Institute reports that one in 20 insured homes has a claim each year. While you never want to file a claim, having the right coverage is critical to your new investment.

Here’s how you can make sure you’re choosing the best homeowners insurance coverage for your home.

1. Understand What Homeowners Insurance Provides 

It’s important to understand homeowners insurance when selecting your coverages.

A simple definition of homeowners insurance: an agreement to repair or replace your home and put your life back to where it was after a disaster/covered loss in return for a premium/payment.

 

Most standard homeowners insurance policies cover:

  • The cost to rebuild your home after a disaster
  • Your contents inside the home in the event of a covered loss
  • Liability coverage to pay medical bills if somebody is injured on your property
  • Living expenses if you have to leave your home after a disaster

2. Explore Your Options

One of the important choices you will make when selecting a policy is your limit of insurance.

Your limit of insurance is the maximum your insurance company will pay you in the event of a covered loss.

New homeowners will often consider their home’s resale value when deciding their limits of insurance. However, you are not insuring your home’s resale value.

You want your insurance limit to cover the cost to completely rebuild your home after a covered loss.

Beyond choosing your limits, you will also have optional coverages you can add on to your policy. These may include:

  • Guaranteed Home Replacement Cost: Provides full replacement of your home in the event that your coverage limit is too low. This may occur due to unforeseen changes in construction material and labor costs.
  • Personal Property Replacement Cost: Pays you the cost to purchase new contents regardless of the resale value or age in the event of a covered loss. Alternatively, standard coverage will pay you the cash value of your contents at their depreciated value.
  • Equipment Breakdown Coverage: Covers the breakdown of all your important home systems and personal major appliances. For example, air-conditioning systems, furnaces, compressors, laptops, televisions, home appliances, and hot-water heaters

 Check out this interactive home tour to see Equipment Breakdown Coverage in action.

3. Choose the Right Insurance Company

Your next step is choosing the right insurance company.

When you search for the cheapest insurance option online, you are most likely missing important details and coverages. A low price doesn’t necessarily mean appropriate coverage.

Affordable Insurance represents many insurance companies. We can provide you with personalized quotes from any of them based on your needs.

Affordable Insurance will help you dig deeper and find out exactly what is and isn’t covered under each policy you consider. Our success is dependent on representing quality insurance companies. So, we very familiar with insurance companies known for superior customer service.

4. Bundle Your Insurance Policies for Extra Savings

Oftentimes, insurance companies offer multiple-policy discounts since they sell multiple types of insurance. If you buy more than one policy from the same insurance company you may qualify for policy discounts.

So, if you have the option to bundle your policies with one insurance company, it is usually a good idea.

5. Remember to Look Ahead

Lastly, remember your home insurance needs may change over time.

As your home and family change, let us know. This will help make sure you still have the best coverages for your home.

Examples of these changes may include:

  • Remodeling or renovating parts of your home
  • Changes to who is living in the home
  • Changes to how much time you spend in the home throughout the year
  • Upgrading the contents of your home
  • Adding a deck
  • Digging a pool
  • Finishing your basement

Another aspect of your home that may change over time is the contents inside. It’s a good idea to keep an up-to-date home inventory to document the items in your home. Several free apps can help you capture the information quickly.

Choosing the Best Homeowners Insurance for Your Home Doesn’t Have to be Hard

Purchasing your first house and homeowners insurance is not something to rush through. Give us a call today to ensure your home is covered properly.

Disclaimer: The analysis of coverage is in general terms and is superseded in all respects by the Insuring Agreements, Endorsements, Exclusions, Terms and Conditions of the Policy. Some of the coverage mentioned in this material may not be applicable in all states or may have to be modified to conform to applicable state law. Some coverages may have been eliminated or modified since the publishing of this material. Please check with your local Independent Auto-Owners Insurance Agent for details.

Is flood insurance in Arkansas always a good investment?

When you are a Mountain Home, AR area resident, you should always think about owning and purchasing your own home. As you are looking for a new home here, ensuring that you have the right insurance continues to be very important. One form of insurance that you should always consider getting is flood insurance. This type of insurance is a good investment in many situations.

When Trying to Protect Home

When having flood insurance is a good investment, one situation is when you are trying to protect your home. Those who live in Arkansas may be concerned about the risk of flood due to local rivers and lakes. If you are concerned about the risk of floods near your home, having flood insurance is a good option as it will offer the financial resources needed to cover any repairs that you have. 

When Trying to Comply with Requirements

It would be best if you also considered getting flood insurance when you want to stay in good standing with your lender. If your home is in a flood zone, your mortgage lender will require that you get proper insurance to protect it. If you do not have this coverage, you could violate the loan agreement and face penalization. 

If you would like to get a flood insurance plan in the Mountain Home, AR area, it would be wise to speak with Affordable Insurance Inc. There are a lot of important factors to take into consideration, and the team with Affordable Insurance Inc can help you choose a plan that is right for your situation. This will help ensure that your home is properly protected with insurance and that you stay in full compliance with your insurance obligations.