Does Homeowners Insurance Cover Tenants?

Virtually all homeowners hold some homeowners’ insurance policy to protect their property. But, is your homeowners’ insurance cover adequate when you rent or lease your property? Ideally, a standard homeowner insurance cover offers ideal property coverage, albeit limited, and it’s for this reason that the landlord may need a landlord policy. The tenant may need a renters insurance cover.

The homeowners’ insurance cover held by the landlord protects the building’s structure, adjacent and adjunct structures, and the landlord’s personal belongings within the insured piece of property. The coverage also offers personal liability protection to occupants of the home. But the coverage benefits don’t extend to temporary residents {renters/lessee} and their belongings.

The insurance coverage deficiencies in a homeowners’ insurance cover necessitate the acquisition of extra insurance covers that can offer more protection to the landlord’s property, the renters, and the belongings of the temporary residents.

These extra cover protections may come in the form of renters’ insurance and landlords’ insurance. Read on to learn why these two covers are vital.

Why Should a Landlord Get Landlord Insurance to Complement the Homeowners Insurance Cover?

Standard homeowners’ insurance coverage for rental property offers limited protection for the landlord’s property and occupants.  It thus becomes necessary for a landlord to have some landlord insurance that can provide more protection. The cover may help when rental units get damaged and declared unlivable after a catastrophe. The cover may also help when someone gets injured while on the property. 

The landlord insurance cover is crucial because it provides coverage for property damage, loss of income, and liability insurance. The cover protects against unintended tenant damage, but it doesn’t cover normal wear and tear and intentional damage. 

Why Should Renters Get Renters Insurance?

The homeowners’ insurance acquired by the landlord doesn’t offer protection to the renter’s property or the renter. As such, a renter needs some renter’s insurance to cover for personal liability and property damage that may occur to the renter’s belongings on the property. Though this isn’t a state rule, it’s the only way tenants can secure their belongings.

Get an Updated Homeowners Insurance Policy Today

If you’re in Ruidoso, NM, you should visit Family Insurance Associates to get your updated homeowners’ insurance cover. At Family Insurance Associates, we provide updated home insurance policies to all Ruidoso, NM, residents. Check out our website to learn more.

Exploring The Benefits Of Dental & Vision Insurance

Family Insurance Associates provides coverage to the Ruidoso, NM community. We strive to ensure that our clients have the coverage they need to protect their assets. We have working relationships with multiple carriers across the state. We look forward to helping you find the coverage you need.

Exploring The Benefits Of Dental & Vision Insurance

In order to enjoy a high quality of living, you have to stay healthy. Health insurance ensures that you receive the care that you need to keep feeling well. Dental & Vision insurance is also important to living a healthy lifestyle. Healthy strong teeth help you feel good and also prevent future health problems. You are covered for preventative care treatment such as regular cleanings and fluoride treatment. You are also covered if you need emergency treatment such as fillings or a root canal.  Under the terms of your coverage, you will have access to a wide network of dentists and dental offices in the Ruidoso, NM area. You can amend your policy to cover necessary accessories such as a retainer or braces.

Protecting your eyes is very important. Vision insurance covers your preventative care such as yearly eye exams. You are also covered if you need to wear glasses or contact lenses. You can also amend your policy to cover you if you are advised to wear eye drops.  Vision insurance covers any emergency treatment, such as laser eye surgery. You can amend your policy to cover you if you are diagnosed with glaucoma or cataracts. The policy will cover your treatment options and your follow-up visits.

Family Insurance Associates Will Help You Stay Protected

Visit our website to learn more information about dental & vision insurance.

This is How Life Insurance Protects your Financial Interests

When you think about life insurance, your mind only points you to protecting your loved ones. While this is true, life insurance is a lot cooler than that. Life insurance can be the most prized asset you have if you plug it thoughtfully into your financial plan. To that end, Family Insurance Associates of Ruidoso, NM shares insights into how life insurance can protect your financial interests.

Accessing cash value

While most people associate life insurance with death benefits, many don’t know that you can access part of the investment while alive. Some life insurance plans allow you to access your accumulated cash value, enabling you to meet financial needs like college fees. Besides, you can borrow against your cash value or use the proceeds as supplemental retirement income. 

Business protection

Many people assume that life insurance is just for individuals. The truth is that you can invest in life insurance to protect your business. Life insurance protects your hard-earned business by keeping things running even after an exit of a key employee or partner. With proper planning, life insurance can help your loved ones maintain control of your investment by using life insurance proceeds to purchase your stock. 

Covers your debts

If you don’t want to leave a debt-laden legacy, then you must consider life insurance. When you die, your debts don’t disappear magically. While some may be discharged -for others-your cosigners will have to pay them off. You certainly wouldn’t want this because you are a prudent financial planner. With life insurance proceeds, outstanding mortgage or car loan can be cleared, saving your loved ones and cosigners the debt burden. 

Invest in life insurance today!

Although life insurance protects your loved ones, it can do a lot more than that. Life insurance safeguards your financial interests later in life and even when you die. In light of this, if you are considering life insurance in Ruidoso, NM, you are on the right track. Contact Family Insurance Associates for a personalized quote. 

What Does Commercial Insurance Cover?

You are working hard every day to grow your business and to be able to reap the benefits but first, you must make sure you have the best commercial insurance policy in place to protect it. The commercial insurance agents at the Family Insurance Associates in Ruidoso, NM can help you to create a commercial insurance policy that works best for all of your business needs.

New Mexico Commercial Insurance Requirements

In the state of New Mexico, all drivers must have an auto liability policy in place and this includes your business-owned vehicles and anyone using a personal vehicle while doing work for your business. This type of insurance will cover anyone injured in a car accident and any property damage that occurs due to an accident.  

Also in New Mexico, you must carry a worker’s compensation insurance package for your employees if you employ three or more people, whether they are full or part-time employees. This type of coverage will help pay for the lost wages and medical bills of an employee who is injured on the job.

Business Owner’s Insurance and General Liability

Your business owner’s insurance policy, as well as a general commercial insurance liability policy, will cover medical bills for anyone visiting your business who is injured or anyone that suffers injuries due to something connected with your business. Either one of these types of policies will also cover any customer property that is damaged by your business as well as any damages your business incurs due to a natural disaster, a fire, vandalism, or a theft incident. A general liability policy can also cover your business and you if there is a libel or slander lawsuit filed against your business.

Other Coverage Options

Other commercial insurance options that you can obtain include cyber and professional liability insurance. Cyber liability insurance covers your business if a data breach occurs in compromises your customers’ information, and it will also help cover the cost of contacting near customers to let them know about the data breach. It also covers the cost of monitoring for fraud. Professional liability insurance will cover any lawsuits due to negligence, late or incomplete work by your business, or any mistakes and oversight that happened with your business.

Contact Us

To create the best commercial insurance policy for you and your business comment contact the commercial insurance agents at the Family Insurance Associates in Ruidoso, NM today!

Should I get auto insurance in New Mexico?

The Ruidoso, NM area can be a nice community to live in. If you do move to this area of New Mexico, you will likely find that having a car is a necessity as getting around town without one would be challenging. Those that do choose to purchase a car in this area of New Mexico need to get proper insurance for a few different reasons.

Auto Insurance is a Legal Requirement

A key reason that people here will need an auto insurance plan is that it is a legal requirement. If you choose to purchase a car in New Mexico, you will have to comply with the state laws surrounding coverage. Any driver here of any type of vehicle will have to maintain a liability insurance plan. With this coverage, you will have the capacity to pay for damages that could be caused by an accident. 

Auto Insurance Protects Car

You should also get an auto insurance plan as it will protect your car. Buying a car is one of the most significant purchases that you can make. As it is also an asset that you rely on, having the capacity to repair or replace it is important. With an auto insurance plan, you will get the necessary coverage you need to offset your losses if it is damaged in an accident or stolen. 

Those that want to get auto insurance in the Ruidoso, NM area should call Family Insurance Associates. There are some very important factors to consider as you are picking an auto insurance plan. The team with Family Insurance Associates understands how to help people evaluate their insurance needs and options and then pick a plan that gives proper coverage for their vehicle and overall peace of mind. 

Is a Medicare advantage plan right for me

Most people look forward to the day they move from private insurance to medicare because now they won’t have to go through the arduous task of choosing a health care plan every year. With the introduction of Medicare Advantage Plans and their expanding array of benefits, choosing has come back into the picture for retirees. At Family Insurance Associates in Ruidoso, NM, we are here to help with this important decision. 

Original Medicare

Original Medicare covers Americans how have reached the age of 65. It is a point of service plan. Any provider who accepts Medicare can be used. Medicare pays 80% of assigned fees and users responsible for the additional 20%. For that reason, about 40% of those who use original Medicare have a Medicare Supplement Policy. These can be pretty pricey depending on how much they cover. Original Medicare does not cover drugs, dental, vision, or hearing. You will need to get a Medicare Part D prescriptions drug plan. 

What is a Medicare Advantage Plan?

Medicare Advantage plans are insurance plans for seniors that take the place of traditional Medicare. They must cover the same thing original Medicare covers and everyone who is eligible for Medicare can opt to have one. One disadvantage of MA plans is they are managed care and you will need to choose your providers from within their network. Depending on the network you choose, this may not be a disadvantage at all. Many major insurance carriers have gotten into the MA business including Blue Cross, Aetna, and United Healthcare.  

Medicare Advantage Plans have many additional benefits that may be available to members. These include dental coverage, vision coverage, hearing aids, Silver Sneakers, rides to medical appointments, home meal delivery, and OTC medical supplies. Additionally, many plans also include prescription coverage. The biggest advantage is not having to deal with any paperwork to get services paid, it is all one carrier. 

Contact Family Insurance Associates in Ruidoso, NM to talk about whether a Medicare Advantage plan is right for you. 

Things home insurance doesn’t cover

Your home insurance is a safety net that protects you from many of the bad things life can throw at you. Buying a home for most people is the single largest investment you ever make. Your financial security may rest on the equity you build in this home. Home insurance offers a lot of protection from many hazards, but unfortunately, it doesn’t protect you from everything that can go wrong. At Family Insurance Associates in Ruidoso, NM, we are a full-service independent insurance agency. We are here to help you with all your insurance needs. 

Expensive jewelry and art

Your basic home insurance policy has set limits on the amount of money it will pay on a claim for jewelry and art. The amounts are not high and if you have either works of art or fine jewelry you should talk to your insurance agent to make sure you have adequate coverage. Get an appraisal to show the amount of insurance you need to be protected. 


Floods cause billions of dollars of devastation every year. But homeowners insurance doesn’t cover flood damage from water originating outside the home. Experts say one inch of water can cause more than $25,000 in damage. Imagine what a foot of water can do. The good news is you can purchase flood coverage if you live in a community that supports the National Flood Insurance Program. 

Owner neglect

As a responsible homeowner, it is up to you to maintain your home and repair and replace things as needed. If you end up with damage due to your lack of maintenance, your home insurance will not cover your claim. 

When you need insurance assistance, at Family Insurance Associates in Ruidoso, NM we will be there for you. Contact us if you have questions about home insurance or any other insurance needs you may have.

The Insurance You Didn’t Think About: Dental and Vision

There are a lot of insurance products available today. Sometimes, shopping for insurance can feel overwhelming. At Family Insurance Associates serving Ruidoso, NM, we are here to take the confusion out of insurance. We want you to be able to make the best insurance choices, so we are providing the best insurance information for you and your family. Keep reading to learn more about dental and vision insurance. 

Do I Need Separate Dental and Vision Insurance?

Many people incorrectly think that dental and vision are included in all health insurance policies. This is not always the case. In many cases, dental and vision will not be included in your regular health insurance policy. It will be necessary to purchase a separate policy. You should read your health insurance information closely to determine if you need dental and vision as well. 

Are Dental and Vision Plans All The Same?

Another misconception people have is to assume that vision and dental plans are all alike. Plans can vary greatly. The reason for this is to make sure you are not purchasing and paying for services you do not need or want. This is to give you more options. However, it is also very important that you review the dental and vision plans carefully to make sure you are only purchasing and paying for services that are appropriate for you and your family. 

The best way to determine which dental and vision plan you need is to sit down with an insurance representative. Our staff will be able to help you navigate the information concerning dental and vision insurance coverage so that you can make the best possible choice. 

If you would like to learn more about dental and vision insurance coverage, please call our staff at Family Insurance Associates serving Ruidoso, NM. 

When should I review my life coverage

Life insurance an important thing you can do for your family. It is a way to show them how much you love them. Unlike your home and auto insurance, you don’t get a yearly renewal on your life insurance so you may just pay the premium and not think about it.  At Family Insurance Associates in Ruidoso, NM, we know that the amount of life insurance you need to protect your loved one changes over your lifetime and should be reviewed particularly when there are major changes in your life.

Job change

One of the benefits most jobs offer is life insurance. When you change jobs you may be able to retain your life insurance by taking over the premium yourself. This may not be the best option. You should talk to your personal insurance agent to see what they have to offer before you decide on the best option. 

Purchase a home

A home is a huge financial responsibility and you need adequate coverage if something happens to you. Leaving your family or loved ones to figure out how to pay your mortgage is a bad thing. 

Getting married

When you get married you will change the beneficiary on your life insurance. While you are talking to your insurance professional take the time to evaluate the amount of coverage you have.  

Having children

Children change your life in many ways. Making sure that they will be able to continue the same life you provide if you are not there to provide for them is vital. This figure depends on the age and number of children as well as your income. 

At Family Insurance Associates in Ruidoso, NM, we would be happy to review your life insurance coverage with you. Call our office or stop by and let us help you make sure you have the right amount of life insurance. 

5 Common Risks Faced by Small Businesses

When you operate a small business you take on certain risks that are unique to the type of company it is. The team at Family Insurance Associates of the Ruidoso, NM area will help you get a commercial business package that is specific to your needs.

Strategic Risk

Often, you don’t have a solid plan for your decision-making process if issues come up when you first start your business. If you know the structure, target market, production strategy, and how you’ll handle sales and marketing, you’re definitely in good shape. It makes sense to have a group from different departments (or even if you hire a consultant for some aspects) to discuss how you’ll handle any crises that come up.

Reputation Risk

This is often overlooked but it’s an important one. Since much of business is done by people doing research and deciding that they like how your company operates, it can be disastrous if a customer(s) put up bad reviews or take to their social media and say negative things about your business.

Liability Risk

All organizations must deal with some level of liability risk. However, your business would be more vulnerable if it’s small since you wouldn’t have the means to pay for damages without it hurting the funds for operating your company. If a customer or employee is hurt or you fail to meet any contractual obligations, you may have a lawsuit against your company. It is worthwhile to have a lawyer on your side to seek advice.

Business Interruption Risk

If your business is interrupted by a natural disaster or something else, this can make it difficult or impossible to go to your office. There may be damage to your equipment or supplies. If you have few staff members and one or several have an illness this impacts your operations as well. For this reason, you should have a business continuity plan that you go over with your staff.

Financial Risk

Of course, as a small business, you already have fewer funds than a larger organization. If there’s a hit to the local economy or even a recession across the nation, this can hurt your business. Make sure that you know your options such as funds, state, or federal grants, or if there are paycheck protection programs that will help you pay your employees.

Family Insurance Associates will work with you to put together the commercial insurance policies that make the most sense. Serving the Ruidoso, NM region, we are proud to work with small businesses to give a measure of protection for these risks and more.