Does my home insurance cover jewelry?

We love our jewelry, and that’s why we spend a lot of money to acquire it. But what happens when you lose a pricey diamond ring at home? What if someone breaks in and steals your gold necklace when you are out on an errand? Your homeowners’ insurance protects your personal belongings in your house from some risks that are usually specified in the policy. Jewelry constitutes personal items and is, therefore, covered in the policy but only to a certain extent. 

Generally, homeowners’ policies do not pay for jewelry pieces or gems that are simply lost. The coverage for these items on your policy is limited in that way. If you want to know whether your diamond ring or any other valuables are adequately covered in your homeowners’ policy, read through the policy carefully or better still, ask a knowledgeable agent. You may want to get additional coverage for your jewelry. The Owens Agency, LLC in Waldron, AR provides additional coverage options for your jewelry to minimize financial loss.

Should I Get Additional Coverage for My Jewelry?

Coverage varies from one insurance provider to the next, but companies usually limit their coverage for jewelry and other items of value. If your jewelry is lost or damaged due to a listed peril like theft or fire, the loss will be covered. If someone breaks into your home while you are on vacation and makes away with your jewelry collection, the loss will be covered up to a limit.

If a fire in your home causes damage to a necklace that has been with your family for generations, the loss will be covered but only to a limit. Mysterious disappearance, or in other words, if the item is lost, no coverage is provided. You need additional coverage to cover such a loss. The Owens Agency, LLC provides the coverage you need for your jewelry in Waldron, AZ. Give us a call if you need more information on our jewelry insurance policies.  

 

Does Your State Have any Auto Insurance Laws That Effect You While You Travel?

Whether it is the call of the open road, business travel, or an emergency road trip, it is prudent to check if your state’s laws differ from the state you are traveling to and through before your trip. At The Owens Agency, LLC, we can help make sure you are fully protected, no matter where you roam. We serve Waldron, AR, and the surrounding areas.

How Can Crossing State Lines Effect My Auto Insurance? 

As a general rule, crossing state lines will have little effect on your auto insurance and most states laws are very similar when it comes to driving that there are no emergent risks. However, some situations merit discussion if you plan on traveling out of state because you can be left unprotected in some circumstances. 

One way insurance can be effected in another state is if you break the law while driving. You may end up being more liable for an accident than if you got in the same accident in a state without the same law. An example is in Iowa. Drivers are required to give utility trucks the right of way if their lights are on. This law is not common across the nation, but if an accident occurs while not following that law, even if breaking the law did not cause it, you can be held accountable (liable) in some cases. This can affect your claim for that accident. 

Contact us at The Owens Agency, LLC if you want to purchase a new auto policy, upgrade your current policy before a trip, or if you have any questions. We serve the drivers in and around Waldron, AR with all of their insurance needs. 

Does Trucking Insurance Cover Any Truck Driver or Only the Truck Owner?

If you have just purchased your first big rig or semi truck, you may be looking to purchase truck insurance. One of the questions that we at The Owens Agency, LLC, serving the greater Waldron, AR area, are asked is whether trucking insurance covers only the owner of the truck or whether it covers any person the owner allows to drive and operate the truck. This is important if you plan on letting others drive your truck. Here is what you need to know about this question. 

Who is Covered By a Truck Insurance Policy?

When you are looking to purchase a truck insurance policy, it is essential to understand that not every policy is the same. As such, who is covered or not covered can vary. Some coverage options will only include those named on the insurance policy. This means that you have to list everyone you think may drive the truck, such as your family members or employees. Other insurance policies will cover anyone who drives your truck, as long as the policy does not specifically preclude them. A policy may preclude a driver who has had a DUI in the past or has been involved in a truck accident recently. 

When you are looking to purchase a truck policy, you need to carefully read the policy to find out whether all drivers are included or whether you have to list specific drivers. This will help you determine who is and who is not covered under the particular policy you are looking at. 

If you have purchased a big rig or a semi truck, you are required to purchase truck insurance in the Waldron, AR area. The Owens Agency, LLC can help you find the policy that best fits your needs. Contact us today to get started. 

Can You Drop Home Insurance if You Have a Mortgage?

Mortgages are a difficult thing to understand, as is the insurance that you need to have on your home to protect it. Insurance is something that is required in cases in which the homeowner still holds a mortgage on the home or has a lien against the cost of the home. If you have a mortgage on your home, your lender will likely require home insurance for at least the value of the loan. For those in the Waldron, AR area, the agents with The Owens Agency, LLC can help.

If you own a home on which you have a loan, mortgage, lien, or other money borrowed against, odd are your lender is going to require some sort of home insurance for at least the amount of the loan. This means that you cannot drop your home insurance if you have a loan or mortgage against your house. It is essential that a lender requires you to hold home insurance for the simple fact that if the home is destroyed, your lender needs to be able to get the money they have lent to you back. Without home insurance, most people are not going to be able to come up with the money to pay back a mortgage after the home has been destroyed.

Having the right policy on hand is going to help protect both you and the lender to avoid having to pay off a large sum if your home is destroyed. This is a fail-safe in some ways for the lender because it will help them to keep your loan in good standing. For those that live in the Waldron, AR area, you can ask the agents at The Owens Agency, LLC to answer your questions and find out what type of home policy is going to work best for you. We can walk you through the insurance process and get you a quote through our online rating tool.

Reach out to our offices for more information.

What are My Auto Insurance Requirements?

Driving a car on a daily basis is a necessity for many people. When you are looking to drive a vehicle in the Waldron, AR area, it is important that you understand what your auto insurance requirements are. For those that are in the area, several factors should be considered when you are trying to determine what your requirements for insurance coverage include.

Minimum Requirements

When you are looking for an auto insurance policy in Arkansas, you should first consider the state requirements. Similar to all states, Arkansas will require that you carry liability coverage whenever you are on the road. In Arkansas, you will be required to carry a personal property damage coverage of at least $25,000 per incident plus bodily injury coverage of at least $50,000 per incident. This is only liability coverage and will not buy any protection for your vehicle.

Collision and Comprehensive

In the state of Arkansas, you are not required to carry collision and comprehensive insurance coverage. However, if you have a loan or a lease on the vehicle, it likely will be required by the finance company. It is important to carefully consider your entire lease or loan document to make sure that you comply with it when you are buying a new auto insurance policy. This will provide you with a variety of different coverage types on top of liability.

When you are trying to determine your auto insurance requirements in the Waldron, AR area, it would be very beneficial to speak with The Owens Agency, LLC. When you meet with The Owens Agency, LLC, our insurance agents will be able to review your personal situation and determine what your insurance requirements are. We will also be able to provide you with a recommended policy that meets your coverage needs. Contact us for a quote.

What Business Owners Need to Know about Fleet Insurance

If a company uses a truck for business purposes, even only part-time, it is likely that there is a need for commercial vehicle insurance. This need may arise in some not so obvious ways, such as when a business owner lends his or her personal truck to an employee to run an errand for the company. That is a commercial use of the vehicle, which may not be covered under a personal automobile insurance policy.

Additionally, when a company has more than one truck in operation, especially when there are multiple drivers of the commercial vehicles, the company may benefit from insurance of those vehicles as a fleet. A fleet is usually four or more vehicles used for commercial purposes. Even an individual that drives four or more personal vehicles may benefit by switching to fleet insurance.

Common Uses for Fleet Insurance

Common uses for fleet insurance include trucking companies, rental car companies, taxis, delivery services, buses, company automobiles used by outside salespersons, and many others. If your company has more than one truck or a combination of trucks and automobiles that it uses for commercial purposes, check with your agent at The Owens Agency, LLC serving Waldron, AR, and the surrounding areas to determine if fleet insurance is the appropriate choice for coverage.

Advantages of Fleet Insurance for Trucking Companies

Having fleet insurance eliminates the stress and extra work of maintaining separate insurance policies for each vehicle. There may be economic advantages, and the claims process is usually very efficient. If a fleet of trucks is used to transport goods, some policies also provide additional coverage for the value of the products being transported.

Contact your agent at The Owens Agency, LLC serving Mena, Waldron, AR, and the surrounding areas to learn more about the fleet insurance solutions that would be beneficial for your business.

How Many Supplementary Policies can be Added to Your Home Insurance Policy?

Home insurance is something that we all need to have in place to protect our homes. If you have a mortgage on your home, your lender likely requires that you have home insurance to help protect their investment as well. These policies help us in a wide range of incidents from fire to storm damage, but there are some instances in which a home policy is simply not going to pay out. In those cases, you can add supplementary policies to help cover anything that may happen. For those in the Mena or Waldron, AR area, the agents with The Owens Agency, LLC can help you determine which supplementary policies you need.

Each insurance company is different in regards to how much supplementary insurance can be added to your primary policy and how many extra policies you can have, but generally, each insurance company will allow you to buy the supplementary insurance that you need. There are supplementary policies for just about anything you can imagine including flood, earthquake, umbrella policies, and more. The most important thing is to take the time to figure out what policy is right for you and what coverage you need. In most cases, your agent or agency will help you to condense supplementary policies for easy management.

Also, many insurance companies have supplementary bundles that save you money while giving you the extra coverage that you need above and beyond your typical home policy. This type of insurance policy is entirely optional and is great for those that need a bit of extra coverage, but that might not want to buy an entirely new policy. You can buy specific additional coverage, or you can buy umbrella policies that cover just about anything. For those in the Waldron, AR area, the agents with The Owens Agency, LLC can help you find the perfect coverage.  

What are My Auto Insurance Requirements?

Driving a car is a practical necessity for many people. For those that are in the Waldron, AR area, driving a car on a daily basis is commonplace. Since these assets are so valuable, making sure they are properly covered by insurance is beneficial. When looking for a new auto insurance policy, there are several requirements that need to be taken into consideration.  

State Liability Minimum Requirements

The first requirement that drivers in Arkansas need to consider is the state liability minimum requirements. When driving a car in Arkansas, you will need to have a liability insurance policy in place that will provide you with up to $25,000 of personal property coverage and bodily injury coverage of at least $25,000 per individual with a max of $50,000 per incident.  

Additional Coverage Requirements

While the state of Arkansas will only require you to carry the minimum liability insurance, you may also be required to carry collision and comprehensive coverage. These types of coverage will provide you with coverage in a variety of situations including if your car is damaged in an accident, if your vehicle is stolen or vandalized, or if you are in an accident involving an animal. Most auto lenders and lease providers will require you to carry this insurance.  

For those that are in the Waldron, AR area and would like to understand their insurance requirements and needs better, one great company to talk to is The Owens Agency, LLC. When you meet with The Owens Agency, LLC you will receive a lot of insight and input into what the basic requirements are for you to comply with the state laws and your loan agreement. Reach out to our agents to get a quote or try our online rating tool for a quote on auto insurance.

Trucking Risks: Why Trucking Insurance Coverage Is Crucial

While trucking insurance may seem like a considerable investment, it is one of the more essential protections you can provide for your Waldron, AR business. Just like other forms of business insurance, trucking insurance coverage can help pay for damage or losses that otherwise might result in your business shutting its doors. When selecting the ideal policy, you need to consider the risks. Regardless of the type or size of the truck you operate, keep in mind the following factors to ensure your policy from The Owens Agency, LLC is the right one for your company.

Trucking Accident Risks

According to the Department of Transportation, 130,000 people in the U.S. are involved in a truck-related accident each year; 22 percent of which result in injury to truck drivers, passengers or other drivers, and 75 percent of those incidents result in property damage. Whether you are an individual operating a single commercial vehicle or a trucking company, trucking insurance is invaluable – the average cost of a commercial trucking accident is $59,000. With the right trucking insurance policy, you won’t be responsible for hefty out-of-pocket payments.

How To Minimize Trucking Risks

Talk to your insurance agent to have your policy reviewed periodically to ensure you have adequate trucking liability coverage for your Waldron, AR business. Assess your risks and make sure you have coverage that protects you beyond the basics. Only hire experienced and skilled drivers with a history of safe driving. Create a safe schedule, encourage drivers to pull over and rest if they feel drowsy on the road, and make sure your vehicles are operating at peak levels.  Each of these measures can help to keep your risks and liabilities as low as possible.

For more information about trucking insurance and choosing a trucking insurance policy that is best suited for your unique business risks, call the insurance experts at The Owens Agency, LLC today and learn how you can get started.

Can Home Insurance Companies Deny Claims Because a Home Is Not Maintained?

At The Owens Agency, LLC, serving the greater Waldron, AR area, we are often asked questions about homeowners insurance. More specifically, people want to know why their home insurance claims may be denied and what role home maintenance plays in denials. We believe in informing and educating potential customers. Here is what every homeowner should know about home maintenance and home insurance claims.

Home Maintenance

It is critical that you properly care for and maintain all of the elements of your home, including things such as the roof, siding, your foundation, and plumbing. If you file a homeowners insurance claim, an adjuster may come out to evaluate the damage done to your home. One of the things that they will look for as they evaluate the damage is what condition the damaged part of your home is in and whether that element was adequately maintained. 

If the adjuster determines that the element of your home that is damaged was not adequately maintained or was damaged due to a lack of maintenance, they reserve the right to deny your claim. Always carefully read over your policy documents to learn more about the maintenance requirements for your home and what your rights are if you dispute the findings that the element that was damaged was not adequately cared for or maintained. 

When you are looking for a new home insurance policy, The Owens Agency, LLC, serving the greater Waldron, AR area, would love to help you find the right policy for your situation. Contact us today to schedule an appointment to sit down with us and discuss your home insurance needs.