When most people think of a life insurance policy, they probably think of a whole life policy, also called life insurance. A number of kinds of policies exist though including term life, universal life, and universal indexed life.
Here’s the basic difference between the policies. A whole life policy remains intact for your whole life so long as you pay the premiums. A term life policy remains intact for the specific finite term for which you pay for it, typically 10, 20, or 30 years.
Within the category of whole life, you have multiple choices of accounts that provide a death benefit and a cash value account that lets you build savings that also include an investment component. You pay premiums to the insurance agency. Part of the money goes to your premium while the remainder goes into your cash-value account. Your cash value account gets invested in a money market or stocks, typically tied to an index such as the S&P 500.
Some small policies called guaranteed life also exist. These require no health exam, but they only cover a small death benefit. A few also contain a cash-value account, but the accounts do not usually gain a high value since the premiums for a guaranteed policy are not much. The death benefit of this type of policy is usually $70,000 or less.
Few term policies include a cash value account. These policies only last a finite term, so the feature of a savings component does not fit. If you did not renew the term policy, you would lose the account since it does not exist separately from the insurance policy.
Contact Attain Insurance of Fort Payne, AL for more information on the life insurance options we can offer you. We have policies to fit every income and age.
Do you need to have commercial insurance if you operate a business in Alabama? The simple answer is yes, though the type of policies you require depends on different factors. An agent from Attain Insurance of the Fort Payne, AL area can assist you with such matters.
Commercial Insurance Considerations in Alabama
For one, it’s not necessary that you have commercial liability insurance for your Alabama business since Alabama is a fault state where the plaintiff can only get compensation if they share no liability for an accident. However, it’s beneficial to have this in place because lawsuits do happen. In most cases, your liability insurance will cover at least a portion of the legal costs when your business is involved in a lawsuit. It also covers bodily injury, personal injury (libel, slander, wrongful eviction, etc.) and property damage if this occurs at your place of business or on a worksite. You’ll want to double-check the specifics of what is offered in your policy.
It is required that you have workers’ compensation insurance in Alabama if your company employs 5 or more people who aren’t related to you by blood and it also doesn’t apply to contractors. This is regardless of their status as full or part-time employees.
Commercial Auto Insurance
Since auto insurance is required in Alabama for all drivers, it stands to reason that the state also mandates commercial auto insurance if you’re driving a vehicle for business purposes. This also should cover employees who use business vehicles.
An Attain Insurance agent in Fort Payne, AL can give you further information, like determining what your minimum coverage and deductibles should be for your commercial insurance policies.
Pets are an integral part of the family for millions of residents in Alabama state. Living with pets can be fun, entertaining, and even relaxing, but it doesn’t always go so smoothly. Some pets have a particular knack for getting up to mischief. In Alabama, homeowner’s policies are explicit in that any sort of damage caused by your pet to your home or personal property will not be covered. Do you know its possible to find a cover included in your home insurance that covers accidental damage and doesn’t exclude damage caused by your pet? We at Attain Insurance in Fort Payne have a dedicated policy expert team always ready to assist you in finding the right policy as per your needs.
What pet cover will home insurance provide?
Property damage liability: This home insurance policy will cover if your pet destroys someone else’s property. Your insurance will provide the fees to repair the damaged property as well as any legal fees from a potential lawsuit.
Bodily injury liability: Homeowners policy provides coverage for damages arising from injuries caused by your pet to your guests or injuries caused by your pet to tenants and guests in someone else’s house.
Accidental damage: This type of policy can cover your pets, causing unintentional damage to your building and your contents.
How much coverage do I need for my pet?
Your homeowner’s policy has a liability limit.’ To understand your potential pet liability cost and the amount of coverage you need, think about the amount it may cost for medical expenses and probable lawsuit.
If you want to ensure you have adequate coverage in place, an umbrella policy is an added layer of protection that provides a much higher level of coverage to your pet financially.
Are you a pet owner in Fort Payne, Alabama? Call us or visit our Attain Insurance website for more information!
If you are a driver in Alabama, you already know that you need to have mandatory liability insurance and other auto insurance basics. The Fort Payne, AL roads can get pretty dangerous, and if you are not adequately insured, you may end up paying large sums of money for injuries or lawsuits. In order to stay safe, Attain Insurance recommends buying adequate coverage to protect you and other road users in Alabama. Here is what you should know about auto insurance in Fort Payne, AL.
Alabama uses the ‘fault’ system
When it comes to financial responsibilities for vehicle damage and injuries, Alabama uses the ‘fault’ system to make things easier and transparent for drivers. That means if you are at fault in the event of an accident, you are responsible for any damage, loss, or injuries sustained in that accident. Depending on your agreement, third parties can:
- File claims with their insurance provider
- File a claim your insurance provider or
- File personal injury lawsuit
Liability coverage is mandatory
The state of Alabama requires all drivers to carry minimum liability coverage in the following sections:
- Property damage for an accident that you accused
- Bodily injury liability when two or more people are injured in an accident where you were at fault.
- Bodily injury liability when a person is injured in an accident that you caused.
Basic coverage pays for property damage, medical bills, and other costs. Note that when you get injured in an accident that you caused, liability coverage won’t help you. In this case, you may need to carry more coverage to protect yourself and your car.
There are penalties for driving without insurance.
If you are caught violating auto insurance laws, particularly the Alabama mandatory Liability insurance law, you could face penalties amounting to hundreds of dollars. Subsequent violations can lead to a more significant fine and/or license suspension.
For more details about auto insurance, reach us at Attain Insurance today!
Being able to travel around the country knowing that you already have your living arrangements within your transportation is amazing. Having a recreational vehicle (aka RV) is a vehicle that many individuals look forward to obtaining for a long time. Insurance is both for your safety of those that occupy it plus the financial investment that you put into it.
Here at Attain Insurance, we are an agency that serves the residents of Fort Payne, AL. We aim to ensure that all of our clients receive the insurance they need. RV’s are financial investments that need to be protected as they serve as transportation and short/long term homes to individuals. When an individual/family believes that it is a great move for them to invest in an RV, it is important to protect that asset. Here is some advice on why you need recreational insurance for your RV.
Having RV insurance can cover you from situations including at-fault accidents. The financial expenses of property damage and/or bodily injuries should be included within your policy. The amount of coverage depends upon your RV size and the appropriate amount for your RV needs. RV insurance also covers situations that are out of your control including theft, vandalism, and weather damage. If you are not sure what type of insurance is best for you, our team will do our best to pair you with the best policy for your wants and needs.
Are you ready to start shopping for your recreational insurance? One of our representatives can assist you if you would like to call or email our office, and an agent will respond to you in a timely fashion.
Because this form of insurance is not often needed by the general public, it’s not unusual for pilots and owners in Fort Payne, AL to miss certain details about aviation insurance that would be useful for them to have. Attain Insurance wants you to know more, so you’re as informed as you can be before an event occurs.
Determine Who You Want to Fly the Aircraft
Who’s operating the aircraft is important to the insurer as this can ultimately affect the odds of an accident happening either on the ground or in the air. If you’re not sure who will be in the cockpit making the decisions, then you may want to wait until you’ve carefully considered all your options.
You Need to Consistently Review Your Policy
Ideally, you’ll be doing this at least once a year, but preferably more. A lot can change from the time you set up the policy, whether it’s a personal change in your life or change on behalf of your carrier. For example, has your carrier updated its protocol or terms recently? Do they still process claims the same way? Have they maintained their reputation in the community? Having this information can help you decide whether to adjust your policy or go with a different carrier.
It Helps to Have Someone to Talk To
Those in Fort Payne AL may not have the time to read through their whole policy, but it takes far less time to call someone who can give you the most important facts. If you have questions about aviation insurance, Attain Insurance is ready to take your call. Not only can we point out important clauses that you may have missed, but we can also make suggestions if you need additional coverage.
Flood insurance can be invaluable in protecting your Alabama home against flooding. Floods are quite common in Alabama, putting you at risk of suffering extensive damage to your home or losing your valuable belongings. Flood insurance from Attain Insurance, Fort Payne, AL, can protect you against the damage that floods can cause. Here are just a few ways flood insurance can protect your home, belongings and financial assets.
Flood insurance protects your home against water damage to its foundation, walls, built-in carpeting, cabinets, built-in appliances, plumbing, electrical and HVAC systems and other structural components. It only takes a few inches of floodwater to devastate your home’s structure. Having flood insurance will enable you to recuperate your losses so you can recover from a flood disaster. Flood building coverage has a limit of $250,000.
Flood insurance also provides content coverage that protects your belongings. This includes your clothes, furniture, artwork, electronics, sports gear and other possessions. If any of these items are damaged or destroyed in a flood, your contents coverage will cover repair or replacement costs, minus your deductible and up to the limits of your policy. You can purchase contents coverage for up to $100,000 to protect your valuables.
Protection Against Financial Loss
By compensating you for damage to your home and loss of personal property, flood insurance can keep you from financial loss. Flood waters can cause extensive damage to a home and destroy everything you own in a relatively short amount of time. Without insurance coverage, you may never recover from a flood disaster. Flood insurance gives you a chance to recuperate from your loss so you can move on.
To purchase a flood insurance policy for your Fort Payne, AL abode, call or visit your Attain Insurance agent today.
If you have a classic car or plan to purchase one, you should learn more about classic car insurance and who is eligible for this type of policy. There must be certain criteria met to obtain this coverage, which is designed to protect classic car owners from losses and reimburse them for a set amount if there is a covered event.
Classic Car Insurance
Those who own classic cars generally must be licensed drivers for at least 10 years with a good driving record. Additionally, the vehicle should not be the primary source of transportation for the owner. In most cases, there is a strict mileage limit per year. Classic car insurance protects the occasional driver for local cruising or for a car show, etc. If you plan on obtaining classic car insurance, the underwriter will evaluate the vehicle and verify it’s value. The policy will reflect that value and pay only up to that limit. To find out more about classic car insurance options in your area, work an experienced insurance agency.
Get The Right Coverage
There are many ways to tailor a classic car insurance policy to meet your needs. The underwriter will generally need to set more terms and conditions, however, and will require documentation to ensure you follow the guidelines if there is a covered event. For example, you can’t race a classic car and still be covered by the policy. Your insurance professional will thoroughly explain all of the limitations before you make a purchase. Those who live around the Fort Payne, AL area can rely on Attain Insurance to give them the answers they need to make an informed choice.
If you own a classic car or vehicle, you should call or stop by Attain Insurance, serving Fort Payne, AL, for more details and information about coverage options.
If you own an RV in the Fort Payne, AL area, you most likely have an RV insurance policy in place. However, not all RV policies are created equal, and it is essential to understand precisely what coverages you have under your policy. An agent at Attain Insurance would be happy to discuss your RV coverage today and make sure the policy is custom-designed to fit your needs.
Bodily injury and property damage liability will cover you for liability resulting from an accident that causes an injury or property damage to a third party when you are driving your RV. This coverage will also assist with legal fees if you need to defend yourself in court.
Uninsured/underinsured property damage and bodily injury
In the event you are in an accident with a driver who has no insurance or insufficient limits, this coverage will help pay for your injuries as well as damage to your RV.
Medical bill coverage
Medical bill coverage will help pay for you and your passengers’ medical costs in the event you are in an accident regardless of who is at fault.
24/7 roadside assistance
If your RV breaks down, this optional coverage will mean a tow truck will be sent to take you to a mechanic to be fixed.
Personal property coverage
Personal property coverage will help replace the personal property inside your RV in the event it is damaged or stolen. Be sure to keep an inventory list of your property in the RV.
Pet coverage will help cover the medical bills of your pet if he or she is injured in an accident.
If you are interested in learning more about RV insurance, reach out to an agent at Attain Insurance today. We proudly serve the Fort Payne, AL area.
If you own and operate a private aircraft around the Fort Payne, AL area, you know you want aviation insurance to help you with costly repairs when it gets damaged. But will a simple policy from Attain Insurance cover all your bases? Check out the common portions found in many policies and how they work.
In-Flight Insurance Provides Protection for Your Machine
The in-flight section of your insurance allows you to file a claim to repair damage after encountering something like a flock of birds or suffering a lightning strike while you are in the air or moving on the ground. Like your auto insurance, you pay a deductible and receive a check for the balance of the damage.
Public Liability for the Unthinkable
Should your plane ever encounter a catastrophic failure mid-flight, you need to have the right insurance on board to compensate your passengers, innocent bystanders injured on the ground, and substantial property damage limits. Even a minor incident can be a major financial strain on your assets or your family’s inheritance should the worst happen.
Ground Risk Helps to Repair Your Plane After a Damaging Storm
Whether you park your plane in a hangar or on the strip at your local airfield, it is possible for the machine to receive major damage from a tornado, hail storm, fire or flood that has nothing to do with the operation of the plane. The ground risk portion of your policy helps you to get back in the air without breaking your bank.
As with all insurance products, it is always wise to sit down with your agent at Attain Insurance to discuss your particular situation and budget before deciding on the right aviation insurance to fully protect your Fort Payne, AL lifestyle.