How Does Umbrella Insurance Benefit Retirees?

Ideally, one benefit of retirement is the ability to focus on family, hobbies, and other activities without worrying about money. One way to protect yourself and limit your money worries is to obtain umbrella insurance covering your accumulated assets. Whether you are retired or not, our team at Old Pueblo Insurance, serving Oro Valley, AZ, will help you understand the benefits of umbrella insurance for people of all ages.

How Umbrella Insurance Benefits Retirees

Insurance protects against the unexpected. Accidents can leave us liable for damages, regardless of how careful we are. While our home and auto policies cover us in most instances, the damages sometimes exceed the limits of our home or auto policy. When those situations occur, you become responsible for paying the difference between the policy limit and the total damage, putting your savings, home, and other assets at risk.

While such situations are a problem regardless of age, most retirees are beyond their peak earning years and find it difficult to rebuild their financial freedom.

Umbrella insurance solves the problem because it sits atop your other policies and pays out only when you exceed their limits. People with umbrella policies often do not make a claim on those policies because the policy comes into play only when the worst happens. The low number of claims means umbrella policies are relatively inexpensive, yet they offer extra protection that offers retirees peace of mind, knowing they are protected from certain harms.

Working With Old Pueblo Insurance

Umbrella insurance is a low-cost means to protect your family and your assets. If you live in or near Oro Valley, AZ, stop in or call the team at Old Pueblo Insurance today to discuss how you can benefit from owning an umbrella insurance policy. 

Common myths about motorcycle insurance

Driving a motorcycle is so enjoyable and so much fun. However, owning and riding this type of vehicle also comes with responsibilities. One of them is to carry proper motorcycle insurance to protect you and other people on the road. Old Pueblo Insurance, serving clients in Oro Valley, AZ, has created the list of the most common myths about this type of insurance. Let’s debunk them so you understand motorcycle insurance better.

Myth 1: Motorcycle insurance is not mandatory

Motorcycle insurance is similar to auto insurance. That means that riding without motorcycle insurance on the roads of Arizona is illegal. You cannot ride your motorcycle without a valid insurance policy. This can lead to fines and financial consequences. 

Myth 2. Motorcycle insurance is expensive

The truth is that certain factors determine how much you will pay for insurance. They are what kind of motorcycle you have, how old it is, where you live, and whether your bike was modified. The combination of these factors determines the cost of motorcycle insurance.

Myth 3: Comprehensive and collision coverage are interchangeable

Comprehensive and collision coverage are among the most common terms in insurance. However, they are different. Collision protects physical damage, while comprehensive coverage offers protection for damage not caused by collisions. 

Have you become a lucky owner of a motorcycle? The next step is to purchase motorcycle insurance. Take your time and shop around to make the right choice. If you need the help of professionals, Old Pueblo Insurance, serving clients in Oro Valley, AZ, is ready to assist you. All you need to do is visit the Old Pueblo Insurance’s website or call us. At Old Pueblo Insurance, we are always ready to offer you help. 

Can I buy life insurance as a gift in Oro Valley, AZ?

Life insurance is one of the best gifts you can give someone. While most gifts are used up or forgotten, life insurance remains a practical way of giving loved ones peace of mind and stability. If you are considering buying life insurance in Oro Valley, AZ, Old Pueblo Insurance can help you choose the best policy for your needs.

Requirements For Gifting Life Insurance

There are two main requirements for giving a life insurance policy as a gift:

  1. You must have the express permission of the person for whom you are buying the policy. If the person is a minor, you need the parent or guardian’s permission.
  2. There needs to be proof of insurable interest. Only people affected by a death may purchase life insurance for that person. This keeps random people from buying life insurance for strangers in hopes of profiting.
  3. Another requirement for some, but not all, policies is that the person on the insurance needs to take a physical.

Benefits Of Buying Life Insurance As a Gift

Life insurance may seem boring or even morbid, but it is actually a practical, thoughtful, loving gift.

  • Life insurance can provide financial stability during the worst of times. Money is the last thing you want to worry about when facing a tragedy.
  • By purchasing the policy when someone is young, you make sure that person won’t face eligibility issues when trying to apply for life insurance as an older, possibly unhealthier adult.
  • Some policies even have cash payouts.

It’s Never Too Early Or Too Late To Buy Life Insurance In Oro Valley, AZ

If you have questions about gifting life insurance to a loved one or life insurance in general, please call Old Pueblo Insurance today.

From Risk to Resilience: Navigating Commercial Insurance in Oro Valley, AZ

Old Pueblo Insurance is an invaluable resource for business owners in the Oro Valley, AZ region. We know how hard it can be to protect your company, so we offer our clients the commercial insurance policies that best meet their needs. To learn more about the most crucial tips and pointers regarding these policies, please take a moment to check out this handy guide.

Prioritize Customer Safety

The customer is the lifeblood of any business. Suppose the commercial insurance policy that is being chosen does not prioritize customer safety. In that case, this is an issue that can cause any number of more significant problems that are difficult to overcome. Any policy you select should reflect the potential risks a customer may face.

Choose a Separate Policy

In an era where more and more businesses are being run from their home, many business owners may make false assumptions. For starters, do not ever assume that a homeowner’s insurance policy will cover all business-related concerns. The same goes for anyone who is using a personal vehicle. Your auto insurance policy is not going to cover any business-related needs.

Check The Policy Frequently

The job is not done once the policy has been purchased. As a business owner, this insurance policy must be treated as a living, breathing document. Businesses always grow and evolve, and your policy must grow along with it.

Once you are ready to start shopping for commercial insurance policies in earnest, our team of professionals cannot wait to assist you. Pick up the phone and call Old Pueblo Insurance when you wish to schedule a helpful consultation in the Oro Valley, AZ region.

Understanding Umbrella Insurance: Why Your Insurance Portfolio Needs It

We all recognize the importance of insurance in Oro Valley, AZ. But what happens when one policy isn’t enough to cover the costs of an unexpected incident? This is where umbrella insurance comes in. Old Pueblo Insurance explains umbrella insurance, which is an additional level of coverage that can benefit those who want more comprehensive protection for themselves and their families.

What is Umbrella Insurance?

An umbrella insurance policy provides coverage beyond the limits of your existing home, auto, or boat insurance policies. It is designed to protect you from liability claims or lawsuits beyond the coverage amounts of your primary insurance policies. It can act as a safety net for many unforeseen circumstances. These can include accidents where you are at fault and are held legally responsible or when you cause damage to someone else’s property. Though the policy may be called "umbrella" insurance, it is not a separate policy. Instead, it provides an additional layer of insurance coverage after your other policies have been exhausted.

Who Needs Umbrella Insurance?

While umbrella insurance is not a legal requirement, it can be a critical investment for those with assets to protect. It is worth considering if you own a home, have savings, or engage in activities that could result in liability claims. Individuals who have frequent visitors to their properties or drive a lot may also benefit from an umbrella insurance policy, as these activities carry a higher level of risk.

Umbrella insurance is an optional but highly recommended investment for individuals and families with significant assets n Oro Valley, AZ. Contact Old Pueblo Insurance today to discuss how to protect your financial assets.

Is Motorcycle Insurance Required in Arizona?

The agents at Old Pueblo Insurance serving the Oro Valley, AZ area want you to have a great time on your new motorcycle but to ride responsibly by having an appropriate amount of motorcycle insurance in place before you head out on the highway.

In Arizona, it is the law that everyone that drives a motor vehicle on public roads and highways has at least the minimum liability insurance. This includes motorcycles and even mopeds.

Types of Motorcycle Insurance Coverage Options

Liability Motorcycle Insurance

There are many types of motorcycle insurance coverage options, but the first one, liability insurance, is mandated in Arizona. This insurance coverage will provide financial assistance for injuries or property damage to another driver if you cause an accident.

Collision Insurance

Collision insurance is designed to help you pay for your vehicle and possibly another if you collide with a car or even a stationary object. For example, this policy will be helpful if you sideswipe a parked car.

Comprehensive Insurance

Comprehensive insurance is critical to protect the investment you have made in your motorcycle. For example, suppose your bike is damaged or destroyed due to a hurricane, tornado, or other natural disaster. In that case, this part of your policy will help you replace or repair your bike. The same goes if a fire or vandalism damages your motorcycle. This insurance coverage will even help you replace your bike if it is stolen.

Contact Old Pueblo Insurance

The experienced and trusted agents at Old Pueblo Insurance serving the Oro Valley, AZ area can assist you in preparing the best motorcycle insurance policy for you and your situation. Call today to get your policy started.

Why Life Insurance is a Need for 30-year-old Adults

No matter how old you are or your financial situation, life insurance is still needed. When you reach 30, it becomes especially important because you’re likely to experience some life changes, such as getting married and having children. You need life insurance to protect your loved ones financially if something happens to you. Our agents at Old Pueblo Insurance, serving Oro Valley, AZ, are here to find the right life insurance policy for your needs.

Pay off Significant Debts

If you have some debts, such as student loans or credit card debt, a life insurance policy could help in paying them off. If you were to pass away, your family could be able to pay off any outstanding loans you left behind. A policy covering the specific amount owed to lenders protects those loans from burdening your loved one.

Consider Whole Life Insurance

One good type of life insurance for someone in their 30s is whole life insurance. Unlike term life insurance, it covers the rest of your life, and the premiums could remain the same if you pay them on time. They also come with a cash value account that accumulates on a tax-deferred basis.

Take Care of your Children Financially

When you hit the age of 30, one of the life changes you’re likely to experience is having children. Getting life insurance is one of the best things you could do for them. Purchasing a plan gives you the peace of mind of knowing they are being taken care of financially when you’re gone. Death benefits could help assist with childcare costs and school tuition.

Purchasing a life insurance plan in your 30s is one of the best things you could do for yourself and your family. Our agents at Old Pueblo Insurance are here to help. Contact them to schedule an appointment today. 

What Are the Specifics Of Commercial Insurance in Arizona?

According to recent data from the US Small Business Administration, there are over 600,000 small businesses in Arizona, which accounts for over 99% of all companies in the state. Therefore, it is possible to say that small businesses contribute to the local economy and significantly impact local communities. 

Suppose you own a small business in Arizona. In that case, you probably understand that it is essential to have proper commercial insurance that will protect your business, you as a business owner, business assets, and employees. If you are currently shopping for business insurance, there are certain specifics you should know. 

What Are the Specifics of Business Insurance in Arizona?

Here is what you need to know about commercial insurance in Arizona:

  • Certain business insurance policies are required in Arizona by law. One of them is workers’ compensation. It is a form of employer insurance coverage that benefits employees injured due to their job. If your business in Arizona hires at least one employee, you are required to have workers’ compensation. 
  • You can purchase several types of business insurance in Arizona, including general liability insurance, commercial property insurance, commercial auto insurance, professional liability insurance, data breach insurance, and more.
  • Commercial insurance in Arizona can be beneficial for all types of businesses, including retail companies, contractors and construction businesses, food and beverage businesses, and more.

Old Pueblo Insurance – Trustworthy Insurance Company in Arizona You Can Rely On

Are you a business owner in Oro Valley, AZ, or any other nearby area, and are you shopping for commercial insurance to protect your business? Do not hesitate to reach out to Old Pueblo Insurance, a local insurance company specializing in different types of insurance, including business insurance as well. We serve clients in Oro Valley, AZ, and other surrounding towns. Our knowledgeable and qualified insurance agents will provide the information you need about insurance coverage options and help you find the perfect policy. Visit our main website or give us a call for more details. 

What Umbrella Insurance Does (and Doesn’t) Cover in Oro Valley, AZ

If you want extra protection against personal liability, an umbrella policy might serve you well. It picks up where your auto and home insurance leave off. Say you have more damage to your property than your regular policy covers. Then, umbrella insurance can bridge the gap. Contact Old Pueblo Insurance about extra coverage in Oro Valley, AZ.

What Does Umbrella Insurance Cover?

Umbrella insurance covers claims that exceed the amount of your original insurance. This commonly includes injuries, certain lawsuits, property damage, and personal liability situations. Examples of bodily injury covered by umbrella insurance include the cost of medical bills for a guest who falls in your house, a major accident you cause, and dog bites.

Property damage pays for losses of personal property. This might include vehicle damage in an accident you cause. Additionally, if you own a rental property, umbrella insurance can give you extra protection if someone trips over an ill-maintained sidewalk.

It also usually covers expenses related to libel, slander, false arrest, and mental anguish.

What Is Not Covered by Umbrella Insurance? 

"Ineligible exposures" listed on your policy are not handled by umbrella insurance. There are exclusions for certain professions, including politics. Certain breeds of dogs are also excluded, as are preexisting lawsuits.

Other exclusions include commercial automobiles, intentional property damage or bodily injury, and intentional false statements. There are nuances to consider, such as an intentional injury due to self-defense.

Get an Umbrella Insurance Policy in Oro Valley, AZ

Talk to one of our agents at Old Pueblo Insurance to learn which umbrella policy would best meet your needs in Oro Valley. Contact us today to set up an appointment.

The importance of wearing a helmet while riding a motorcycle

When it comes to riding a motorcycle, there are many different safety precautions that you should take to keep yourself and others safe. One of the most essential safety measures is wearing a helmet on your bike.

A helmet is essential safety equipment that can help prevent serious injuries or death if you are ever involved in an accident while riding your motorcycle. If you don’t wear a helmet, you are putting your own health and well-being at risk and the lives and well-being of everyone else around you.

There are many different types of helmets available, so be sure to choose one that fits properly and provides the best level of protection for your needs. It’s also important to check the safety ratings of helmets to ensure that you get the best protection.

If you ride a motorcycle, always wear a helmet and other protective gear to stay safe while on the road. Not only will this help keep you safe, but it will also help protect everyone else around you.

Overall, there are many vital reasons why wearing a helmet while riding your motorcycle is so essential. It can prevent serious injuries and even save your life in an accident. If you want to stay safe while on the road, be sure to wear a helmet when riding your bike!

For more motorcycle safety tips, call Old Pueblo Insurance today. We proudly serve the Oro Valley, AZ area.