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Purchasing a life insurance policy is important if you are concerned about ensuring the financial security of your dependents. However, purchasing a life insurance policy comes with many questions and decisions that may be intimidating, possibly causing you to hesitate. Unfortunately, putting off such an important conversation can be expensive and even harmful in the long term, particularly if the unexpected occurs.

What Questions Should You Ask When Purchasing Life Insurance?

The following are five important questions you should ask when purchasing life insurance.

#1 What Kind of Life Insurance Policy Should I Get?

First, it is important to understand the basic types of life insurance coverage available. There are two main forms of life insurance that you can purchase: term and permanent insurance.

If all other requirements are satisfied, a term insurance policy offers protection for a predetermined period of years and pays a death benefit. Term insurance policies typically last one to 30 years and are purchased to pay for a child’s education or to cover mortgage payments.

The death benefit of a term policy may remain constant over the course of the policy, or it may decline — it depends on the kind of coverage you select.

Permanent life insurance, however, gives the insured a death payout regardless of how long you live. A permanent insurance plan might be entire, universal, or variable universal, and it is more complicated than a term insurance policy.

Traditional insurance policies have a predetermined premium and death benefit at the time of purchase. Variable and universal policies, on the other hand, will change based on how the market performs.

#2 How Much Life Insurance Do I Need?

The amount of life insurance you need will depend on a variety of factors, such as the sum required to settle your debts, including your estate taxes and funeral costs. The amount needed by your dependents to maintain their standard of living in the event of your death should also be factored into the decision. Other factors that may impact the quantity of coverage you purchase are:

• Your income
• Your age
• Existing debt
• Current expenses
• Future expenses, such as sending children to college

Before you decide to get insurance, be sure your insurance agent considers your financial situation and your family’s future needs. Once your insurance agent has considered all your present and future financial needs, you can then begin to consider which policy is best for you.

# 3 How are Death Benefits Paid?

Unless the beneficiary elects to receive the benefit as an annuity or in installments, the death benefit is given out as a single, income tax-free payment. A few policies (including some employee benefit plans) require pre-tax payments for the premium; in these cases, the death benefit may not be income tax-free.

A death benefit may also be divided between multiple beneficiaries. For instance, as the policyholder, you may name more than one beneficiary and divide the benefit equally (or unequally) among family members such as children.

#4 Does the Policy Provide Living Benefits?

The idea that life insurance solely offers death benefits is a widespread one. Many life insurance policies also include living advantages, such as the ability to borrow money against the policy’s cash value.

Depending on the company, the insured party may be eligible for living benefits while they are still alive. Some life insurance policies offer common living benefits such as:

Early payment: This benefit, which helps pay for care and medical expenses, is available to insureds who have been told they have a terminal illness. The percentage of the benefit is determined by your insurance and the firm.

Long-term care: If the insured needs assisted living because they are unable to provide for their basic needs on their own, the long-term care benefit may allow them to use the proceeds from their life insurance policy to help cover those costs.

Short-term care: If the insured is hurt or temporarily disabled, this benefit may help pay for the costs of care in the short term.

It is noteworthy to remember that while some of these benefits may be covered by the life insurance policy, others may be purchased separately. If you’re interested in finding out more about your options, our expert representatives are ready to assist you.

#5 What Life Insurance Benefits are Guaranteed?

You should thoroughly read the entire policy before buying life insurance to understand what benefits are ensured in the event of death. Depending on how long the policy is in effect, you may be offered a “life insurance illustration” when you request a quote. This document outlines the estimated value of your policy.

However, the economy, particularly with variable policies, can produce a significant volatility in prediction values. You should make sure you are comfortable with the guaranteed figures when you are examining your illustration.

Evaluating the Best Life Insurance Coverage for Your Needs

No matter your current phase of life, life insurance can create a sense of comfort for you and for those who matter most to you. GWK Insurance is here to help with your life insurance needs. We make it a priority to inform, educate, and help our clients make the best insurance decisions possible.

We are experts in helping you make the right insurance choices to protect the financial future for those you care about most. Contact us today to begin comparing life insurance policies that best serve your specific needs.

Purchasing your first car is a big milestone and one that comes with important responsibilities. Choosing auto insurance includes deciding what coverage and deductibles you need.

It is important to first realize that a number of variables such as age, marital status, and home ownership can affect coverage and cost when it comes to auto insurance.  The type of coverage and size of deductible you want in the event of an accident may also influence the policy and restrictions you select.

Here are four of the most important elements to understand when considering your first your first auto insurance policy.

#1 Coverage Pays for Damages You May Cause

Liability insurance comes in two different varieties. In most states, both are types are mandated by law.

Bodily Injury Liability

This coverage could assist in covering your legal costs as well as the injured party’s medical expenses and lost wages in the event that they sustain injuries as a result of an auto accident you caused. This insurance frequently has two distinct limits: one for each injured person and another for each accident.

Property Damage Liability

This insurance can shield you if your car damages someone else’s property. You may not have to compensate the other party’s damages out of your own pocket if property damage coverage helps reimburse them for their losses.

#2 Coverage That Helps Protect You if You’re Injured

Personal Injury Protection (PIP)

If you are hurt in a car accident, this coverage might assist in covering your health insurance deductible (if you have one) as well as any additional medical expenses that go beyond the limitations of your health insurance. While you are recovering, this insurance may also cover your lost income. In the worst circumstance, PIP may assist in paying for your funeral costs. Keep in mind that not all states offer PIP.

Medical Payments

Similar to personal injury protection, this coverage may assist in covering your medical expenses related to an auto accident. However, this coverage extends to your passengers and any family members who were in the car at the time of the collision. This coverage can also assist in covering medical costs if you or a member of your family is hurt in a pedestrian accident or while riding in another vehicle.

#3 Coverage That Helps Protect You from Drivers Without Insurance

Uninsured/Underinsured Motorist

If you are hit by a driver who does not have auto insurance or whose policy limits are insufficient to fully cover the costs of the accident, this coverage may be able to help safeguard you. Depending on the insurance requirements in your area, it can also help cover the cost of any vehicle damage in addition to your medical expenses.

#4 Coverage That Helps Protect Your Vehicle

Collision

This coverage accommodates repairs or even the replacement costs of your car as a result of a collision with another car or item.

Comprehensive

This insurance might help with non-auto accident-related damage to your vehicle. Examples include theft, fire, and fallen objects.

Guaranteed Asset Protection (GAP)

You will normally receive fair market value for your car from your insurance carrier if it is stolen or totaled in an accident. However, if you still owe a lender more than the automobile is worth, GAP insurance may be able to help you get paid the price difference.

Finding the Best Auto Insurance Policy

Reliable insurance coverage is an important component of auto ownership. The first step is choosing an insurance agency you can trust.

At GWK Insurance, we help individuals and families get the proper coverage for their specific needs. Contact us today to help you find the right auto insurance policy coverage for your needs.

During the summertime, most individuals find themselves occupied with vacations, events, pool and beach days, baseball games, and other outdoor activities.

After your days of fun in the sun, returning to your air-conditioned home to relax is one of the best ways to cool down from the heat. However, what do you do when your air conditioner unit suddenly stops working?

Whether from unit failure due to age and use, physical damage caused by weather, or simply failing from a broken coil, air conditioner units are not always reliable. In the middle of the heat and humidity, it can be difficult to know how to proceed with repairs. You don’t want to be left wondering if you are required to perform them yourself or if your insurance company will cover repair costs.

Is My Air Conditioner Covered?

Here is a general breakdown of which air conditioner-related issues your homeowner’s insurance will likely cover and what is typically not covered by the average policy.

Policy Definitions

Your homeowner’s insurance policy will lay out specific perils that are covered. Generally, a peril is considered to be any event that causes damage to your personal belongings inside the home, or the structural integrity of the home itself.

Most policies typically cover fire, theft, and weather damage. The following are example scenarios:

• Hail damage: if the central air conditioning unit is damaged in a hailstorm, the homeowner’s policy will most likely cover these repairs. A central air conditioning unit is considered part of the structure of the home, and will often be covered under dwelling coverage, depending on how the unit is damaged.
• Fallen trees: most homeowner’s policies cover damages caused by falling objects, specifically when caused by inclement weather.

It is important to note that while most central air conditioning units will be covered in peril-related incidents, window units typically fall under personal property, and are not always covered. Contact your insurer for further explanation of what your specific policy covers.

Age and Usage

If the air conditioning unit breaks down because it is older and well-used, be aware that most policies do not cover general wear. Therefore, repair costs will be your responsibility as the owner.

If you live in an older home, an easy way to ensure that your unit is running properly is to schedule annual maintenance checks. These checks will either reveal that everything is running smoothly or will ideally identify a problem long before your unit breaks down.

General Part Damage

Homeowner’s policies do not cover part failure or damages if they are not caused by a peril-related event. For example, if the air conditioning unit’s fan stops functioning on a hot day, and no peril-related event is identified, then the homeowner would be responsible for the cost of repairs.

The same is true of frozen coils, leaking refrigerant, thermostat/sensor failure, and drainage issues. These issues are fairly common in a central unit and can be avoided through annual maintenance checks.

We are Here to Help!

Put simply, your central air conditioning unit is typically protected from any weather damages, vandalism, or other peril-related incidents. Unfortunately, breakdown from a lack of maintenance or common age-related issues is unlikely to be covered under your insurance policy, and repairs will be your responsibility.

At GWK Insurance, we can help you find the best insurance policy that meets your budget, lifestyle, and needs. If you find yourself unsure of your options or are looking for a homeowner’s policy for your specific needs, our experienced agents are ready to assist you. Contact us today to get started.

Business owners have a lot on their plates, and it’s tempting to put things like business insurance on the back burner. However, it’s critical to safeguard your company against unexpected accusations and lawsuits.

We live in a litigious society, and even if you feel you’re doing everything right, you could be sued. Business insurance can help protect you and your company in a number of ways.

3 Most Commonly Asked Business Insurance Questions

Here are the top three most common business insurance questions most business owners have.

#1 Why Do I Need Business Insurance?

Business insurance, also sometimes referred to as commercial insurance, is essential security for the possibility that things don’t go as planned. If an accident occurs in your place of business, for example, you could be sued. The high cost of litigation, medical bills, and property damage claims is the primary reason why businesses need insurance.

The risks you face influence the type of insurance you need. General liability insurance, which covers client injuries and other common mishaps, is the most popular policy obtained by businesses. Additional rules may be required if you have workers, own a facility, drive a company car, or provide professional advice.

#2 What Does Business Insurance Cover?

There is no such thing as a single insurance policy that covers everything. There are two broad areas of coverage in general:

Business liability insurance protects you in the event that someone holds your company liable for damages, injuries, or losses.

Commercial property insurance pays for the expense of repairing or replacing damaged or stolen commercial property. This includes the structure or building in which you operate your business.

#3 What Kind of Business Insurance Do I Need?

This is dependent on the kind of business you have. General liability insurance is required by most firms, especially if you meet with clients face to face. Professional liability insurance is required if you provide professional advice. If you have company equipment, such as computers or tools, you should look into a business owners’ policy (BOP), which combines general liability and property coverage.

Certain business owners in Florida are required by law to get insurance:

• If a company has four or more employees but does not work in construction, it must acquire workman’s comp insurance.
• If a company employs even one person in the construction industry, it must acquire workers’ compensation insurance.

In addition, the law compels you to get commercial auto insurance if your company owns, leases, or operates a vehicle.

5 Main Types of Business Insurance Coverage

To further help you understand commercial insurance, here are the five main types that you may want to consider.

General Liability Insurance

Legal concerns arising from injuries, accidents, and negligence claims are often covered by general liability insurance. Libel, slander, settlement bonds, litigation defense, property damage, bodily harm, medical expense, and other claims are covered by this form of insurance.

Product Liability Insurance

You may be held liable for a product’s safety if you sell it. Businesses that wholesale, distribute, or produce items require the greatest product liability insurance. If a defective product causes bodily harm or injury to one or more people, this type of insurance can protect your company from financial liabilities.

Professional Liability Insurance

If your company offers services, you should consider purchasing professional liability insurance, sometimes known as errors and omissions insurance. This sort of insurance protects your business from concerns like errors, malpractice, and carelessness in the services you provide to your customers.

Commercial Property Insurance

This type of insurance protects your organization from loss or damage to company property caused by storms, fires, wind, and other natural disasters. Commercial property insurance can cover everything from lost income to damage to the structure and its contents.

Home-Based Business Insurance

More than ever before, businesses are being run out of their owners’ homes. Furthermore, many people are unaware that home insurance does not cover commercial losses.

You may be able to add provisions to your existing home insurance policy to cover some fundamental business risks, such as property damage, depending on the type of business you operate, and the risks associated with it. However, you may find that these very basic add-ons are insufficient to adequately protect your business. To be adequately insured, consider acquiring supplementary insurance coverage, such as professional liability and/or general liability insurance.

Always check with your insurance representative before deciding which forms of insurance to get. They can provide the proper guidance to ensure that that your company is adequately insured.

Find the Best Business Insurance Coverage for Your Company

We understand that starting and operating a business is a lot of work and adding business insurance to your already-heavy plate may feel intimidating.

However, at GWK Insurance, we are here to assist you in finding the best possible business insurance coverage to safeguard your organization. Contact us for assistance in obtaining the most competitive estimates for your insurance needs.

A necessary part of being a homeowner is having a homeowner’s insurance policy. Unfortunately, the average person may not understand what their homeowner policy actually covers. An uninformed homeowner may end up with inadequate coverage for their home since they do not know the specific terms to look for.

Use this guide to become better informed about your coverage.

Terms of a Standard Homeowner’s Insurance Policy

Simply put, homeowner’s policies ensure that your home will be repaired or replaced in the event of damage. A standard policy typically covers damage caused by fire, smoke, fallen trees, plumbing issues, storms, and theft.

However, there are certain things that are not covered by a standard homeowner’s insurance policy. For example, flood damage is not included in a standard policy. Damage from floods and earthquakes is typically covered by separate policies entirely.

Wildfire protection also falls into this category and is determined by the level of risk in the area where the home is located. Some policies cover other types of damage, including mold, foundation damage, and roof replacement, but these types of coverage are not standard. Some insurers may not provide this type of coverage at all, so it is important to be specific and ask your agent any and all clarifying questions.

What Does Homeowner’s Insurance Provide?

If an event covered by your policy damages or destroys your home or valuables, homeowner’s insurance should cover you. It will also protect you if you cause injury to someone else or, in certain circumstances, cause property damage. Homeowner’s insurance has four primary functions:

• To make necessary repairs to your home, yard, and other structures.
• To repair or replace your personal belongings
• To provide for other living arrangements while repairs occur
• To cover personal liability if you’re held legally accountable for someone else’s property damage or injury

What are the Types of Coverage?

A standard homeowner’s insurance policy can be broken down into six types of coverage, which help ensure that you and your home are wholly protected from potential damage and other threats.

1. Dwelling coverage ensures that the home itself is protected. This coverage will cover the costs to repair or rebuild the home, depending on the total amount of damage and your coverage costs.
2. Other structures coverage ensures that fences, garages, outdoor sheds, and guest houses will be repaired or rebuilt in the event of damage.
3. Personal property coverage includes items that are stolen or vandalized, mainly furniture, appliances, and electronics.
4. Loss of use coverage covers expenses in the event your home needs to be rebuilt and you are required to stay elsewhere (i.e. hotels, restaurants, rentals).
5. Personal liability coverage covers others’ medical bills and hospital costs in the event you are found liable as the homeowner.
6. Medical payment to others coverage covers minor medical costs due to injuries, not taking into account who is at fault.

How Can We Help?

Homeowner’s insurance is a vital part of owning a home. At GWK Insurance, our agents know that the ins and outs of a policy can be overwhelming at times, but we are here to walk you through the entire process. If you are a homeowner searching for a new policy, we would love to partner with you on this journey. Contact us at any time, and let us know how we can help.

The summer months are here, which calls for vacation, relaxing, tourists, and fun in the sun for those living in the Sunshine State. Unfortunately, summer also means that hurricane season has already begun. In the United States, nearly 300 hurricanes have reached land since the 1800’s, with 120 of those hitting the state of Florida.

During this stormy season, it is vital for homeowners to be prepared for when inclement weather strikes. However, it can be difficult to know where to begin. Having the proper insurance policy that provides adequate coverage is the first step to preparing for this uncertain time of year.

Are You Prepared for Hurricane Season?

Here are four simple ways to ensure that your home is prepared for a hurricane.

#1: Ensure Your Impact Windows are Locked and Sealed

This tip may be obvious, but unsecured windows are in fact the main avenue through which wind and storm damage affect a home. Keeping windows locked at all times ensures that they will not be flung open by storm winds.

Additionally, ensuring your impact windows are properly sealed will help protect your home against damage by flying debris and water intrusion. In preparation for hurricane season, it is also important to check windows for cracks or other damage since houses in humid climates will lose their sealing quickly. This issue can be fixed with a simple caulking touch-up.

Shuttering windows, if you do not have impact windows, is another option that will also protect your home against higher-powered winds. When installing, remember to mount the shutters directly to the wall, and not to the window frame. The window frame can be damaged during a storm, and the shutter will not be secure if it is attached to the frame.

#2: Store all Furniture Indoors

While having a garden table on the back porch is convenient for a warm evening, outdoor furniture will be the first thing to go during a hurricane. Furniture and decor sitting outside may be picked up by high winds and thrown towards your home or others, causing potentially severe damage. If a hurricane is headed in your direction, make sure to bring all outdoor furniture and decorations inside in preparation for a storm.

#3: Store Items in Water-Resistant Containers

One of the most detrimental effects of hurricanes is the mass water damage that is often left behind. Although your home may survive the potential for 120 MPH winds, your belongings may not be prepared for the flooding that can result. You can avoid the damage or loss of treasured items or important papers by storing vital objects in waterproof containers.

#4: Have Emergency Supplies Ready

During a hurricane, it is possible that your home will lose power for a period of time. It is important to have a survival kit ready for this scenario. This kit should be easily accessible, and its location should be known by all family members.

Some important items to include are:

• Flashlights and extra batteries
• Non-perishable foods
• Water bottles
• First-aid kit
• Prescriptions required for family members
• Toolkit for emergency home repairs (hammer, plywood, nails, etc.)

We are Here to Help

Before a hurricane makes landfall near your home this year, take some time to evaluate your homeowner’s insurance policy. You may discover that you have insufficient or inadequate coverage for your home and possessions.

At GWK Insurance, we understand that preparing for a hurricane can be daunting.  Our agents are happy to answer any questions you might have about your coverage. Please contact us as soon as possible so that we can assist you in getting the most appropriate homeowner’s insurance coverage for your specific needs.

Many individuals don’t fully understand  their auto insurance policy, which can leave them exposed to significant financial problems in the event of an accident. Searching for the ideal insurance company and policy for you and your unique financial situation can be an overwhelming task.

However, it is a very important undertaking, as auto insurance is mandatory in nearly all states. It can also be the difference between financial hardship and a minor inconvenience if you are ever in an accident.

The following four rules of thumb can help you simplify the process and gain a better understanding of auto insurance.

#1 Know the Standard Types of Auto Insurance Coverage

While many take it for granted, auto insurance is a contract between you and your insurance company. In exchange for paying a premium, your insurance company is committing to pay for losses as defined in the policy you select.

Understanding your options for insurance coverage is important when you are purchasing a new car or shopping around for insurance. Auto insurance covers a variety of issues that can occur on or off the road, and coverages vary by state. However, these are the standard coverages on most policies:

Liability

Auto liability coverage is required in 49 states. Liability coverage can pay for damage to other vehicles, damage to objects, injuries to other drivers and their passengers, and lawsuits, if you’re sued due to an accident.

Comprehensive

Comprehensive coverage is important for vehicle damage due to fire, vandalism, theft, and other events that are out of your control. If you have an auto loan or lease, your lender may require this coverage, though it is optional in all states.

Collision

Collision coverage is optional in every state and covers your vehicle if it overturns or collides with another vehicle or stationary object.

Medical Payments/Personal Injury Protection

Personal injury protection is a broader coverage that is available only in certain states that require it, while medical payment coverage is available in most states. These coverages help pay for medical bills if you or your passengers are injured in a car accident in which you are at fault.

Uninsured and Underinsured Motorist

As the name implies, uninsured or underinsured motorist coverage pays for your loss if a driver with little or no insurance coverage hits you.

#2 Know What Auto Insurance Does Not Cover

A basic auto insurance policy won’t cover typical wear and tear, mechanical failures, or routine maintenance. For example, oil changes or replacement of sensors on your vehicle are not covered by auto insurance. You may choose to add a warranty to the purchase of your vehicle, which may cover such maintenance needs.

Auto insurance will likewise not cover any items or belongings stolen from your vehicle. Standard policies only cover injury to you, your passengers, or the vehicle itself.

#3 Know How Much Auto Insurance Costs

The price of auto insurance will vary between insurers depending on the types and amounts of coverage and deductibles you choose, along with several other factors. One such factor impacting rates is decided by where you happen to live. For example, it typically costs more to insure a vehicle in areas with higher rates of theft or accidents. The cost of auto insurance is also impacted by gender, driving record, and the value of your vehicle, among other factors that vary by state.

#4 Know Where to Get the Best Auto Insurance for Your Needs

There are a few different avenues for selecting the best auto insurance policy. The option that is best for you depends on your personal preferences, but there are helpful ways to approach your search.

Sure, you could begin by contacting individual insurance companies and comparing rates. Rates and policies can vary significantly by insurance company, so you’d want to get multiple quotes, which can be extremely daunting and time consuming.

Why spend all that time and energy yourself when the trusted and experienced agents at GWK Insurance can do the work for you and get you the best possible quotes?

Shop the Best Auto Insurance for You

Having reliable and proper insurance coverage is an important component of auto ownership. Finding the best auto insurance policy can save you money, frustration, time, and regret. The first step is choosing an agency you can trust.

At GWK Insurance, we know shopping for auto insurance can feel overwhelming, and we are here to help you select and purchase the best auto insurance policy for your protection. Contact us today to help you find the best auto insurance for your needs.

While it may not be an enjoyable topic, life insurance is an important element of your financial plan, as it can provide financial stability to your loved ones upon your passing. In simple terms, this type of insurance is an investment in the future for those who you choose as beneficiaries.

Life insurance can be a confusing topic, as policies can differ quite significantly. Here are the answers to 5 frequently asked questions (FAQs) associated with life insurance.

#1 Why Invest in Life Insurance?

Perhaps the most important reason to secure life insurance is to gain peace of mind. Because it is a contract between you and your insurance company, you can feel confident in the knowledge that your beneficiaries will be relieved of financial hardship in the event of your death.

#2 At What Age Should You Buy Life Insurance?

It is generally recommended that life insurance be purchased in your younger years. An important advantage to buying life insurance when you’re young and healthy is the ability to lock in a good rate. Life insurance increases in cost as your age increases, so consider securing life insurance earlier in life rather than later.

#3 How Much Life Insurance Do I Need?

When determining how much life insurance you need, first take a look at your current and future financial obligations. What does your monthly cost-of-living equate to and who is involved? Then, consider your future expenses like college tuition, medical needs, and end-of-life expenses such as those associated with a funeral. Once you’ve compiled all these expenses, you will be able to better estimate your life insurance needs. One simple guideline that many industry leaders recommend is to aim for 5 to 10 times your current annual salary.

#4 Who Can Be a Beneficiary of Life Insurance?

As the owner of a life insurance policy, you can name any person of your choosing as a beneficiary. Many people choose their spouse or life partner, but it is possible to name more than one person as a beneficiary. For example, you could leave a percentage to your spouse and divide the remaining percentage amongst your children.

It is a good habit to review your beneficiary choices frequently to avoid unwanted outcomes. As your life changes with age, consider those life changes that may impact your choice of beneficiary.

#5 What are the Main Types of Life Insurance?

Life insurance typically falls into two main categories, referred to as term insurance and permanent insurance.

As the name suggests, term insurance covers you for a period of time and includes a guaranteed death benefit. While there is no savings component, term policies typically offer the lowest monthly premium and are usually the best option if you have a limited budget.

On the other hand, more expensive, permanent life insurance provides peace of mind with life-long protection that never expires. Permanent life insurance premiums go toward both maintaining the policy’s death benefit and allowing the policy to build cash value. The potential for increasing cash value, or equity, is one of the more attractive elements for those who select permanent life insurance coverage.

Need Help Selecting the Proper Plan for You?

Life insurance can provide peace of mind and security for all stages of life.

At GWK Insurance, we take the needs of our clients as seriously as if they were our own.  We are experts in helping you make the right insurance choices to protect the financial future for those you care about most.

Contact us today to start evaluating life insurance policy options that can help provide financial security for your family’s future.

More people are renting in the U.S. than ever before. According to the Statista Research Department, in 2021, there were approximately 45 million renter households. However, only 57% of renters have renter’s insurance, leaving more than half of renters at risk.

If you are one of the millions of people currently renting, consider these top 4 reasons for minimizing your personal risk with renter’s insurance.

#1 Your Landlord’s Coverage Does Not Protect You

A common misconception is the belief that the landlord’s policy will cover your losses as a renter. Your landlord’s policy covers only the physical structure of the rental property and will not protect you or your personal belongings. The landlord is responsible for fixing any structural damage caused by weather or a catastrophic event. For example, if a tornado were to strike your apartment, your landlord would rebuild the structure. However, the cost of replacing your personal belongings would likely fall on your shoulders without renter’s insurance coverage.

#2 Protect Your Personal Possessions

In general, renter’s insurance covers what you own, and your possessions are likely worth more than you may think. The higher ticket items you may own, such as TVs, furniture, and computer equipment are included and can be replaced in case of a loss. Renter’s insurance is not only affordable, but its biggest value may be the peace of mind it provides when it comes to covering your personal belongings.

#3 Protect Your Guests

Liability coverage is included in standard renter’s insurance policies. When you invest in renter’s insurance, it doesn’t just protect your home and property–it will also protect you and any guests you may have. This provides protection if someone is injured while in your home or if you accidentally cause injury to another person.

#4 Prepare for the Unexpected

Sometimes the unexpected happens, and your renter’s insurance can help you manage the unknown. In the case that a named peril occurs such as vandalism, fire, wind, or lightning damage, and you can’t stay in your home because of a covered loss, you would be provided reimbursements for temporary housing and additional living expenses. Being prepared for the unexpected means never having to worry about where you will live should the worst happen.

Finding the Best Coverage for Your Needs

Life takes many twists and turns and having renter’s insurance can make dealing with a potential traumatic event much more bearable.

When you work with GWK Insurance, you can rest easy  knowing that we will help you navigate your options to determine the best coverage for you and your family.

Contact us today to help get the best coverage for your specific needs.

When choosing a life insurance policy to protect your family’s financial well-being, there are a number of things to consider. You need to understand the basics, such as how this type of insurance policy works, coverage types, why it’s beneficial to have, and how to choose the right plan for you and your family, before making any decisions.

How Does Life Insurance Work Exactly?

The purpose of a life insurance policy is to  provide a death benefit to your pre-selected beneficiary, which in most cases is a spouse, child, or other family member. Upon your passing, your beneficiary, or your licensed insurance agent, would submit a claim to the insurance company basically informing them of your passing. Once the insurance company receives all the required documents, the beneficiary would receive a payout based on the terms of the life insurance policy.

Understand the Two Main Types of Life Insurance

There are several things you should consider when purchasing the best life insurance policy for you, and understanding the two main types of life insurance, permanent and temporary, is a good place to start.

Permanent Life Insurance

A permanent life insurance policy sounds exactly like what it is: you’ll be covered for the entirety of your life, so long as you are paying the premiums. This type of policy gets paid of regardless of the age at passing as long as the policy is up to date.

Two of the most popular types of permanent insurance are whole life and universal life. Most whole life policies provide a level premium, so the rate that you pay stays the same for the entire policy. With most life insurance policies, you can get a larger death benefit by passing a medical exam. Other permanent insurance policies available include universal life and variable universal life.

Universal life and whole life are the two most common types of permanent life insurance. Whole life insurance is more standard, and you pay consistent premiums throughout the life of the policy. In addition to lifelong protection, universal life insurance, which has flexible premiums, has a savings component (called “cash value”) in which you can borrow or withdraw against the insurance policy’s value and your cash value earns interest.

Temporary Life Insurance

A temporary life insurance policy, sometimes also referred to as term life insurance, is issued only for a certain amount of time, typically from five to 30 years.

Term life insurance policies stipulate a death benefit to your assigned beneficiary only if you pass away during the pre-determined term of your temporary policy, until the age of 95.

The majority of temporary life insurance policies are level premium term policies, meaning your premium will remain consistent for an established period of time. There are a few other, less common, types of term life insurance, such as decreasing term coverage and annual renewable term coverage. However, these are typically not the right option when looking for the best protection for your family.

As you review various policy options, consider the length of time you would like to have coverage.

Choosing The Best Life Insurance Policy for Your Family

Life insurance can help give you peace of mind and secure what matters most for all ages and stages of life.

Protect the life you want for those that matter most. This is what GWK Insurance is here for. We make it a point to educate, inform, and assist our clients in the process of making the right insurance choices.

Contact us today to start evaluating life insurance policies that can help provide financial security for your loved ones by covering expenses like the mortgage, college tuition, and other everyday living costs.