Four of the most common mistakes consumers make regarding life insurance

Your life insurance decisions can greatly impact your family’s finances. Consumers in Ruidoso, NM can purchase life insurance coverage from us at Family Insurance Associates. We help our customers to make life insurance decisions that ensure financial security in the future. 

Here are four common mistakes consumers sometimes make regarding life insurance. 

Waiting too long to purchase life insurance coverage

Buying life insurance is something that you should never put off. As you get older, purchasing life insurance may become more difficult. This is especially true if you end up suffering from a severe health problem. 

Buying life insurance now protects your family and gives you the peace of mind that you’re doing everything possible to secure your family financially. 

Choosing an inadequate amount of life insurance coverage

Your family may be entirely reliant on your life insurance for financial support if you pass away unexpectedly. This makes it essential for you to invest in adequate coverage. Carefully calculate the amount of financial support your beneficiaries will need without your income to determine how much coverage to buy. 

Failing to understand the various types of life insurance fully

You need to decide whether to purchase term, universal, whole, or another type of life insurance. It’s vital that you understand what the differences are between these various life insurance types to choose the right policy for your situation. 

Letting a life insurance policy lapse

Your life insurance policy can lapse if you miss a payment. It’s not always a simple matter to purchase a policy again after your policy has lapsed. That’s why you must ensure you keep up with all your premium payments. 

When you need life insurance in Ruidoso, NM, we’re here to help. Get in touch with us at Family Insurance Associates to get a quote on a life insurance policy. 

Can I File a Commercial Insurance Claim in Addition to a General Liability Claim?

If you’re a business owner who is curious about whether you can file both a commercial and general insurance claim simultaneously, we’re here to help. At Family Insurance Associates, we’re here to help Ruidoso, NM residents with all of their insurance needs. 

What’s the Difference Between General Liability and Commercial Insurance?

Both general liability insurance and commercial insurance can work to protect your business. Typically, commercial insurance works to cover issues that are not covered by your general liability insurance. This means that it’s a good idea to have both policies in place to ensure that you and your business are protected in the event of an unexpected accident. 

Should You File a General Liability and Commercial Insurance Claim at the Same Time?

It’s essential to work closely with your insurance agent following a workplace accident to help you understand whether it makes sense to file a general liability claim or both a general liability and a commercial insurance claim. 

If you find that your general liability claim does not cover all of your expenses or does not cover the costs of the person affected by the accident, you’ll want to file a commercial insurance claim at the same time as your general liability claim. Your insurance agent may recommend that you wait to find out the payout from your general insurance claim before you file your commercial insurance claim, as your initial general claim may fully cover your expenses.

Family Insurance Associates: Serving Ruidoso, NM Residents

At Family Insurance Associates, we’re proud to serve Ruidoso, NM residents and business owners. Our team is here to meet all of your insurance needs. Reach out to us today or stop by to learn more.

What Does Auto Insurance Cover?

Like most of the 50 states across the country, New Mexico requires that all drivers have at least an auto liability insurance policy. This type of insurance will help protect you if you cause an accident and may pay for any injuries or property damage that occurs.

Our agents at Family Insurance Associates serving the Ruidoso, NM area want you to know that there are several options you can choose from when it comes to auto insurance in addition to liability insurance.

Auto Insurance Coverage Options

Collision Coverage

This type of insurance will cover any damage to your vehicle in the event of a collision with another car or object, no matter who is at fault.

Comprehensive Coverage

Comprehensive insurance covers damage to your vehicle from incidents other than collisions. This can include theft, vandalism, natural disasters, falling objects, fires, etc.

Uninsured/Underinsured Motorist Coverage

This type of auto insurance coverage helps protect you if you’re involved in an accident caused by a driver who doesn’t have insurance or doesn’t have enough insurance to cover your expenses. It can cover medical bills, lost wages, and even property damage.

Other Auto Insurance Options

You can also opt to have other types of coverage when it comes to your auto insurance policy. Some include medical payments, also known as Personal Injury Protection (PIP), rental car coverage, gap insurance, and towing and labor coverage.

Contact Family Insurance Associates

To create an auto insurance policy that works best for you and your situation, contact our experienced and trustworthy agents, Family Insurance Associates, serving the Ruidoso, NM area, today!

Top Three Things to Know About Signing up for Medicare

Whether you’re approaching retirement age or have a health condition that can significantly affect your future, signing up for Medicare is essential in preparing for your health-related needs. Understanding the enrollment process can help make the transition to Medicare smoother. Here are three critical things you should know about the Medicare enrollment process: 

  • Initial Enrollment Period: The first opportunity most people have to sign up for Medicare is the Initial Enrollment Period (IEP). This period consists of six months, including the three before your 65th birthday and the three following that month. There’s also a General Employment Period, which begins on January 1st and goes through to March 31st each year. However, enrolling during this period can lead to delayed coverage, and you may face late enrollment penalties. 
  • Reliable Source: When you’re in the process of signing up for Medicare and you reside near Ruidoso, NM, you want to have a reliable source to turn to, such as Family Insurance Associates. This way, you can read about various topics that may fit your specific situation. Also, you can obtain information for those residing in your general area. 
  • Coverage Options: Medicare consists of several parts, each covering different healthcare aspects. Part A covers the hospital portion, and Part B covers the medical services. Part C combines Part A and Part B. Part D is the prescription drug coverage.

You’ll find detailed information on Family Insurance Associates that can break down each part for those near the Ruidoso, NM area. This way, you can enroll in the type of Medicare that will most meet your health-related needs.

Why Keep Homeowners Insurance Once My Mortgage is Paid?

Regular mortgage payments can sometimes strain the budget, especially if your payments are high or you’ve opted for balloon payments. Regardless of your specific situation, once your mortgage has been paid off, you may consider getting rid of your homeowners’ insurance. However, you might want to rethink things and keep this valuable insurance. 

Reasons to Keep Your Homeowners’ Insurance

Homeownership is an investment, and most people want to protect their investments. One powerful way to protect your investment is to maintain adequate insurance coverage. A homeowner can never predict when someone might sue them because they were injured on their property. This could be very costly; without insurance, you would be required to pay the person out-of-pocket. Furthermore, your home could incur unexpected damage anytime, and your policy would most likely cover repairs and other losses. Could you imagine paying out of pocket to replace all your belongings because a fire has destroyed everything? That would be catastrophic because most people don’t have much cash. 

What to Do if You Can’t Afford to Keep Your Insurance

If you feel your insurance rates are no longer affordable, you have options. First of all, you could switch insurance agencies. Many agencies, including Family Insurance Associates, provide insurance coverage for the Ruidoso, NM area. Also, some insurance agencies will offer a discount if you combine all your insurance with one company. This means that you would purchase auto, life, homeowners, and any other insurance from the same company. 

As you can see, it is wise to keep your homeowners’ insurance, even once you’ve paid off your home. If you feel your rate is too high, then give us a call at Family Insurance Associates. We proudly serve the Ruidoso, NM area and are available to provide you with a quote for our homeowners’ coverage, hopefully enabling you to save money today. 

Choosing Dental and Vision Insurance

Today, many people find insurance to be confusing and overwhelming. At Family Insurance Associates, we want to help the residents of Ruidoso, NM, and the surrounding areas, make intelligent, confident insurance decisions. Keep reading to learn more about choosing dental and vision insurance. 

Why Is Insurance Confusing?

Insurance can seem confusing because there are many types of insurance plans for different needs. If you don’t know how these different types of plans work for different types of people, you can quickly start feeling overwhelmed by all of the choices. You can alleviate some of this confusion and overwhelm by sitting down with a knowledgeable insurance representative. This professional will be able to walk you through the different plans available and help you decide which one is right for you. 

Are Dental and Vision Part of Health Insurance?

In some cases, yes, but in other cases, no. Some forms of health insurance include dental and vision coverage. If this is the case, you can make a few quick decisions to determine which services you will need. If dental and vision are not included in your health insurance, you will want to spend some time researching the types of available plans and which will work best for you. 

Do I Need Dental and Vision Insurance?

Dental and vision insurance are excellent services to have. Dental services and vision services can be expensive when paid for out of pocket. A dental and vision insurance plan can help offset some of these expenses. 

If you would like to learn more about health, dental, or vision insurance, don’t hesitate to contact us at Family Insurance Associates serving Ruidoso, NM, and the surrounding areas. We will be happy to help you. 

No-Exam Life Insurance Policies for New Mexico Applicants

Life insurance policies can be confusing, and those requiring an exam often end up providing less coverage than someone needs, which is why no-exam life insurance policies are becoming a popular choice. These policies offer coverage without worrying about the hassle of a medical exam or a lengthy underwriting process. Still, there are many benefits to these policies, as well as more than one type.

Benefits of No-Exam Life Insurance Policies

No-exam life insurance policies have become popular due to their convenience and quick application process. Unlike traditional policies, they don’t require a medical exam or a lengthy underwriting process, allowing individuals in the Ruidoso, NM area to obtain coverage with minimal effort quickly. No-exam policies are especially beneficial for those with pre-existing medical conditions or who need immediate coverage due to major life changes.

Types of No-Exam Life Insurance Policies

There are mainly two types of no-exam life insurance policies available: simplified issue and guaranteed issue. Simplified issue policies require applicants to answer a few medical questions on the application, but they offer higher coverage limits and are usually more affordable than guaranteed issue policies. For help determining whether simplified or guaranteed issue policies are right for you, contact the experts at Family Insurance Associates.

Factors to Consider

When looking for a no-exam life insurance policy, there are several important things to keep in mind. These include how much you’ll need to pay in premiums, how much coverage you need, how long you’ll need coverage, the policy’s terms and conditions, and the insurance company’s reputation. Always take your time to compare policies for your specific needs.

Protect your family’s future with the help of Family Insurance Associates, serving the Ruidoso, NM area. Our team of experienced agents will work with you to find the right insurance coverage for your budget and needs. Visit our website today, or email us to learn more and to get started.

Be Prepared for Whatever Comes Your Way with Commercial Insurance

If you’re a business owner in New Mexico and looking for ways to protect your business investments, consider getting commercial insurance. 

Contact the insurance experts at Family Insurance Services in Ruidoso, NM for a free quote! 

Be Prepared for The Unexpected and Whatever Comes Your Way with Commercial Insurance

Commercial insurance is like having a financial security blanket that helps shield your business from financial losses in the form of lawsuits, theft of services, theft of intellectual property, and damage from natural disasters. 

General liability insurance shields your business from devastating financial losses from lawsuits if patrons are injured on your property. 

Worker’s comp can safeguard your finances against compensation claims for medical reimbursement and damages awarded to injured employees on the job site. 

How to Choose the Best Commercial Insurance Policy for Your Business in New Mexico

Business owners have a wide variety of insurance options to shield their financial investments from unexpected losses. 

The best way to find a custom commercial insurance policy to protect every aspect of your business is to talk to a knowledgeable insurance agent who can show you the benefits of each policy type.

A licensed insurance agent at Family Insurance Associates in Ruidoso, NM can answer your questions about getting commercial insurance in New Mexico.

They can also review individual commercial insurance policy options, add-ons, and premiums to customize coverage. 

Get a Commercial Insurance Quote in New Mexico

Ready to invest in a New Mexico commercial insurance policy to protect your business? An insurance solution is available if you need insurance to protect your business assets, commercial trucking fleet, or liability protection. 

Contact an insurance agent at Family Insurance Associates in Ruidoso and get a free quote for commercial insurance today! 

Tips to improve your gas mileage

Fuel economy is an important factor to consider when considering the cost of owning and operating a vehicle here in Ruidoso, NM. Driving habits, maintenance, and choices are all important factors affecting your gas mileage. Here are some tips from us at Family Insurance Associates on how to get the most out of every trip and improve your gas mileage:

  1. Drive smart: Accelerate slowly, maintain a steady speed, and avoid rapid braking. This will help you save fuel by reducing friction and decreasing the amount of stop-and-go driving. 
  2. Regular maintenance: Keeping up with regular maintenance checks is vital for getting optimal fuel economy from your vehicle. Ensure your tires are properly inflated, your oil is changed regularly, and replace air filters as necessary.
  3. Remove excess weight: Don’t carry unnecessary items in your car, as excess weight can reduce gas mileage by up to 2%. Trunk clutter adds drag and weighs down the car, so clear out any unnecessary items that aren’t needed on the road. 
  4. Use cruise control: Cruise control helps you maintain a steady speed while driving, which can maximize fuel efficiency while on the highway or on long trips. It also prevents sudden acceleration or deceleration if you tend to be an aggressive driver or frequently speed up and then slow down while driving in city traffic. 
  5. Avoid extreme temperatures: If possible, avoid using air conditioning or heating during summer and winter, respectively, as they can significantly decrease fuel efficiency. Instead, open windows for ventilation or use seat warmers instead of turning on the heater when it’s cold outside! 

For more tips, give us at Family Insurance Associates a call today. We serve the Ruidoso, NM area.

How Old to You Need to be to Receive Medicare Insurance?

Health insurance is necessary for most individuals to ensure they can pay for routine and emergency medical treatment. Anyone currently interested in receiving Medicare can reach out to the experts at Family Insurance Associates, proudly serving the residents in and around the Ruidoso, NM, area.

Medicare Coverage 

Anyone wanting to sign up for Medicare coverage can begin the process three months before their 65th birthday. This coverage is designed for older adults 65 years of age and older. Anyone with questions related to Medicare coverage can consult with our Medicare experts to get more details. Our agents are highly trained to help customers learn more about the coverage this health insurance provides. They also review the fine print to ensure everyone understands the terms and conditions.

Medicare offers specific coverage for its individual parts. For example, Medicare has parts B and D. Some coverage covers regular medical expenses, while others cover pharmaceutical and similar health maintenance products. Medicare allows older Americans to get affordable coverage to help maintain their health and manage any health conditions.

Having Medicare is also an important financial planning tool to help manage expenses. Individuals who sign up for Medicare through our agency can access Top Notch customer service and ongoing customer care. Our team can assess each situation and submit any required documents for coverage or claims.

Reach Out Today 

Anyone interested in learning more about Medicare insurance coverage or wanting to sign up for a policy can contact us for a consultation. Call or stop by the office of Family Insurance Associates, proudly serving Ruidoso, NM. Get the quality medical coverage necessary to avoid difficulties and ensure peace of mind.