The Impact of Weather-related Events on Home Insurance Claims

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As a homeowner, one of the major threats you face is potential damage due to extreme weather. Therefore, it’s essential to understand the impact of weather-related events on your home insurance claims. At Stonewall Grace Insurance in Buena Vista, VA, we take the time to help you understand your coverage. If you need additional coverage, we’ll help you find it. 

Weather Events Not Covered by Home Insurance

Your home insurance policy does not usually cover floods. However, Virginia residents can buy separate flood insurance through the National Flood Insurance Program. Check your policy to see what weather-related claims it covers. It’s helpful to schedule an appointment with your insurance agent to ensure you don’t miss anything in the fine print. For example, does your policy cover someone who falls on your icy sidewalk?

Types of Weather Damage Covered

It’s crucial to review your personal policy. However, most homeowners’ insurance covers weather-related damage from hail, fallen trees, and backups due to excess rain. Your individual policy may also list roof damage, wind damage, and power failure coverage. If you need help determining whether your policy includes landscaping damaged by ice dams, we can help.

Weather-Related Liability

Do you know if your policy covers liability related to neighbors falling and slipping on your icy porch steps? What about ice and snow that causes a miniature avalanche? Instead of guessing, contact our team for a thorough policy evaluation.

In any case, proper home maintenance can avoid many of these risks. Keep your roof clear, and sidewalks shoveled to limit your liability. If an accident occurs, contact the insurance company for instructions. Depending on your coverage, you may also get help with your lawyer’s fees too.

Contact Stonewall Grace Insurance in Buena Vista, VA for more information on protecting your home and belongings from weather-related damage and risks.

I Bought a New Car: Can I Add the New Car to My Existing Auto Insurance Policy?

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At Stonewall Grace Insurance, we are pleased to offer auto insurance policies to greater Buena Vista, VA residents. However, we have found that many people are confused about adding a new car to an existing auto insurance policy and what the rules are regarding this. As such, we want to help answer any questions you may have. 

Can I Add a New Car to My Existing Auto Insurance Policy? 

You can add a new car to your existing auto insurance policy. An auto insurance policy will allow you to add or remove cars, and the price may be adjusted when you do so. 

What If I Buy the Car After the Insurance Company Is Closed For the Evening? 

Many auto insurance companies have a grace period for adding new cars. This means that your new vehicle is covered, even if it is not yet on your policy, as long as you are within the grace period, your insurance company covers it. 

How Long Do I Have to Add a New Car to My Existing Auto Insurance Policy? 

Most insurance companies give you two to four weeks to add a new vehicle to your existing auto insurance policy. Check the wording on your policy to find out how long you may have. 

If you already have auto insurance, your auto insurance policy likely covers a brand-new vehicle for a brief period. After that time, you either have to add the car to your policy or obtain a new auto insurance policy for the vehicle. The team at Stonewall Grace Insurance, helping residents in the Buena Vista, VA area, would love to help you with this. Reach out to us today to learn more.

How does senior market health and life insurance benefit you?

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We all know that health insurance covers health-related costs such as hospital visits, doctor appointments, and medication. You might also know that life insurance helps your family with expenses after you die. One thing that most people aren’t familiar with is senior market health and life insurance. What makes senior health and life insurance different from regular insurance, and how does it benefit you?

What is senior health and life insurance?

Senior health and life insurance are similar to regular health and life insurance. Most life and health insurance policies can be more expensive for the older generation because they are more of a risk for the insurance companies. This is where senior market health and life insurance come in. Unlike regular life and health insurance, senior market insurance guarantees acceptance if you meet the age requirement of 65 or older.

How does senior health and life insurance benefit you?

Many people over the age of 65 are unemployed due to age-related factors such as forced retirement or health conditions. With that, they often have a fixed income and can’t afford expensive insurance policies. Senior market health and life insurance benefit you because most policies have a price cap, requiring premium costs to be under a certain amount.

Unlike regular life insurance, senior market life insurance does not discriminate based on your age. If you start a policy later in life, regular life insurance has higher premiums. Because of this, some people opt out of life insurance, which leaves their loved ones with funeral and burial expenses after they die. With a senior market life insurance policy, your loved ones will have something to cover those costs.

Regular health insurance often requires physical exams and screenings. Seniors can often be denied health insurance coverage because of the higher risk of health conditions. Health care can be expensive, leaving them with high medical bills to pay. Senior market health insurance guarantees acceptance if you meet the age requirements.

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Contact us at Stonewall Grace Insurance in Buena Vista, VA for more information.

Are Life and Disability Insurance Right for You?

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Although you can apply for both life and disability insurance at different times, many people recommend you apply for them both concurrently. One reason is that they take the same time to apply and get approved, and you can use the same medical exam. This means you don’t have to have two separate medical exams for the application process. There are pros and cons to having life and disability insurance. We will help you determine whether they are right for you.

Life insurance for Me

Life insurance is not for everyone. For example, if you do not have financial significance to the household, you might not need life insurance. If you are the sole financial provider, it might be a good idea to get life insurance to protect the finances of your loved ones.

There are two different types of life insurance: long-term and short-term. Long-term life insurance takes effect from when you get the policy until you die. You don’t have to renew your policy with a long-term insurance policy. Short-term life insurance lasts for a certain number of years before expiring.

Disability insurance

Disability insurance covers you if you develop a disability from an injury or illness affecting your workability. It protects your financials while you are alive. There are various types of disability coverage, some of which have different requirements for qualification. It is a good idea to talk to your insurance company to find out what the disability requirements are and whether it would be a good fit for you.

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There are many reasons why life and disability insurance might be a good fit, but they are not a good fit for everyone. Talk to us at Stonewall Grace insurance in Buena Vista, VA to determine if either one or both would benefit you.

Do I need commercial insurance for a business I’m running from home?

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If you are running a business from home in Buena Vista, VA, you may wonder if you need commercial insurance. After all, if the company is just you operating out of your living room or garage, what kind of coverage do you need? The answer here depends on several factors. In this post, Stonewall Grace Insurance explains when home-based business insurance is necessary and why it matters. 

What Kinds of Businesses Require Commercial Insurance? 

The answer to this question can vary depending on the size and scope of your business. Suppose your home-based business involves customer interaction, such as face-to-face meetings or phone calls. In that case, you must have commercial insurance to protect yourself from potential liability issues. This is especially true for businesses that involve physical products or services, such as repair work or delivery services. 

If your home-based business does not involve customer interaction, then the need for commercial insurance may not be as great—but there are still some important considerations to keep in mind. For example, if your business involves using hazardous materials or equipment, then having commercial insurance can help protect you in case of an accident or injury on the premises. Additionally, suppose your clients require proof of insurance before working with you (which many do). In that case, having the right coverage can make all the difference in getting those clients onboard quickly and efficiently. 

Contact Stonewall Grace Insurance, and we can answer any questions about commercial insurance for home businesses. With appropriate coverage in place for everything from general liability claims to product liability protection, Buena Vista, VA, residents can rest assured knowing their businesses are adequately protected against any potential risks they may incur while operating out of their homes.

Renters Need Protection Too – Get Renters Insurance

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Are you a renter in the Buena Vista, VA area? Do you mistakenly believe that your landlord’s property insurance policy will cover your possessions? The insurance professionals at Stonewall Grace Insurance can provide you with the coverage you need as a renter.

It is good to remember that the landlord’s property insurance only covers losses to the building itself. Your personal property is only protected by a renter’s insurance policy that you must purchase.

Another reason why so few renters have insurance coverage is that they underestimate the value of their personal possessions. Add up the cost of your electronics alone. It wouldn’t take long to get into the thousands of dollars for some renters. Then add clothing, furniture, and kitchen supplies. It would be very costly to replace all these items. They are worth more than you think.

Liability is another good reason to have a renters’ policy. You could face a lawsuit if you have a dog and he suddenly decides to bite a neighbor, friend, or a pizza delivery person. Another good reason to have a renters’ policy is that your landlord might require it.

Renters insurance provides protection for your personal property against a long list of disasters, including:

  • Damage caused by falling aircraft
  • Damage caused by cars or other vehicles
  • An explosion
  • Falling debris or other objects
  • Lightning or fire
  • Civil commotion or riot
  • Smoke
  • Theft
  • Malicious mischief or vandalism
  • Volcanic eruption
  • Weight of snow, sleet, or ice
  • Hail or windstorm
  • Damage from steam or water from sources, including appliances, air conditioning, heating, plumbing, or sprinkler systems

Losses from earthquakes and floods are not covered in a standard policy. A separate rider or policy would be required. Also, hurricane wind damage may require a separate rider.

Make sure you have renters insurance for your own protection. For very little money each month, you will have the coverage you need for peace of mind. Contact Stonewall Grace Insurance today.

Three things you should know about home inspections when it comes to purchasing home insurance

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Home inspections can be necessary for those attempting to purchase home insurance in Buena Vista, VA. At Stonewall Grace Insurance, we can answer questions you have about home inspections when you’re on the market for home insurance.

The following are three things you should know about home inspections when it comes to home insurance. 

Some insurance providers require a home inspection before offering home insurance.

Home insurance providers want to be confident that the properties they ensure meet some basic safety standards. For this reason, insurance companies sometimes require home inspections before they will insure a home. 

Your insurance provider might notify you that an inspection is required before you are offered coverage. Fortunately, you will be notified in advance that your home will need to undergo inspection. 

Home inspections are especially likely to be required for older homes.

If you are trying to find insurance for an older home, you are more likely to need to go through an inspection. Insurance providers may require an inspection before insuring an older home because older homes are more likely to have safety issues. 

Homeowners should prepare for home insurance inspections. 

If your insurance provider notifies you that your home needs to be inspected, it’s a good idea to do your own inspection beforehand.

You can inspect home features like your basement, attic, ceilings, walls, and roof. Look out for and repair any damage before your inspection to enjoy lower home insurance premiums. 

We’re here to help you if you have questions about home insurance or wonder whether a home inspection will be required for your property.

At Stonewall Grace Insurance, we’re here whenever you need home insurance assistance. Homeowners in Buena Vista, VA can contact us today to learn more!

Will A Speeding Ticket Affect My Car Insurance?

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One of the most common infractions for any driver in Buena Vista, VA is a speeding ticket. Every year, more than 300,000 speeding tickets are issued in Virginia alone. It’s important to consider how speeding affects your auto insurance. At Stonewall Grace Insurance, we’ve broken down important factors to keep in mind.

Speeding Tickets In Virginia

Keep in mind that car insurance companies view speeding as a high-risk behavior. A single speeding ticket could lead to an increase in your car insurance rates. The average speeding ticket in Virginia will result in roughly a 23 % increase in your car insurance rates.

However, the effect of a speeding ticket on your car insurance rates will vary depending on the state in which you live. For example, the average speeding ticket in Virginia is determined by how much over the limit you were going. Since speeding is considered wreckless and dangerous to other drivers, the fine only gets more significant for increased velocity. You also need to consider demerit points that could be added to your record for speeding tickets.

Avoiding Increased Insurance Rates

The best way to keep your policy affordable and avoid the risk of losing driving privileges is by obeying the law. Practice defensive driving habits such as always using your turn signal, not following other cars too closely, and staying within the speed limit. If you find yourself with a speeding ticket, discuss it with your local Buena Vista, VA car insurance agent.

At Stonewall Grace Insurance, we understand how important it is to have the right auto insurance coverage. If you have any questions about your policy or you’ve gotten a speeding ticket, we can help. Feel free to contact us with any questions you have.

The Insurance Industry Definition of Senior Market

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When you shop for health and life insurance coverage at Stonewall Grace Insurance, you might not realize that you qualify for senior market options. The insurance industry defines the senior market as applying to those 45 years of age or older. It targets senior market products at those aged 45 to 85 years old and requires no health check to acquire a life insurance policy.

Senior Means so Many Things

The insurance industry tries to make it easier for individuals in Buena Vista, VA and other locations to obtain the health and life insurance they need. One way it does this is senior market insurance sometimes misses part of its target audience because those individuals don’t yet consider themselves seniors.

Business defines a senior citizen as those who’ve entirely retired from working unless referring to a senior executive, which means an individual in a C-level or top management position. Healthcare terms it as those 65 years of age or older. Social Security Administration (SSA) once considered 65 the retirement age but now determines it to occur at 70. That’s a senior citizen to the SSA. The American Association of Retired Persons targets those aged 50 and older.

Senior Market Insurance

You probably understand that every industry defines the “senior market” differently. In the insurance industry, those aged 45 and older qualify for senior products. The industry doesn’t mean that it considers those ages of people as senior citizens. It addresses an issue of ageism in healthcare that assumes a person’s health declines beginning about the age of 45.

This assumption, tied to long-term data, makes it more challenging for individuals aged 45 and older to obtain health and life insurance. To solve this problem, the insurance industry developed the senior market, which only includes insurance products that don’t require a medical exam to obtain.

Shopping this market lets a 45-year-old who beat cancer, for example, obtain health and life insurance. Since the individual doesn’t have to undergo a medical exam, they can more easily qualify for the policy. Although their premiums cost more, Stonewall Grace Insurance does its best to offer the most affordable options to Buena Vista, VA residents.

Will the Government Cover Me if I’m Disabled?

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It can be devastating if you cannot work due to injury or other conditions. The loss of income can compel you to give up things you love, and it can be hard to make ends meet. Stonewall Grace Insurance knows government assistance programs in Buena Vista, VA don’t always cover certain conditions, and even when they do, the coverage might not be enough.

Social Security: What It Covers

You can qualify for disability benefits from the Social Security Administration if you are out of work for 12 months. The SSA considers "disability" as a physical or mental impairment that prevents you from doing any work. The SSA covers various impairments, such as arthritis, cancer, diabetes, and more. Head injuries, paralysis, and eyes and ears can be grounds for disability.

Is Social Security Income Enough?

Unfortunately, the answer is often no. The monthly disability payment is low, and you will need to pay for medical coverage and some expenses associated with being out of work. You may have to move in with a friend or relative or apply for other government assistance to help with the extra costs. On average, the yearly income from Social Security is less than $20,000.

Can You Rely On Employer Disability Insurance?

Disability insurance is usually limited and can’t replace your salary if you become disabled. Some employers will require you to apply for Social Security benefits first.

Benefits of Having Individual Disability Insurance

Disability insurance can help pay bills while you’re disabled or use money from the policy to pay off debt. Some policies also provide a death benefit.

Bottom Line

Don’t rely on one safety net in case of disability. If you live in Buena Vista, VA, please get in touch with Stonewall Grace Insurance to learn more about disability and life insurance.