Life insurance can be tricky for many people. We at TruePoint Insurance, serving Savannah GA, are here to help answer your questions about this important piece of your life. Here are some of the most frequently seen questions we get at the agency.

I’m too young for life insurance, right?

We see this all the time. What we like to ask people after this is, “Are you a parent? A spouse? A son or daughter?” Anyone at any time needs to have life insurance protection. We can use these as mortgage protection, a part of financial planning, even income replacement after a death. Life insurance may not be a topic everyone wants to discuss, but it is very needed.

What’s the difference between term and permanent life insurance?

This is an excellent question and one we always love to answer. Term insurance has lower premiums but has no cash value and it is for a set amount of years. You may renew these policies if needed. Permanent life insurance is a little higher in premium, but it builds a cash value and is with you until the day you die. One is not “better” than the other but one policy may be better suited for your situation.

How much insurance is enough?

While there is a lot of talk about 5-8x your yearly income being the factor, there are questions that are better to understand how much insurance you need. You should factor in how much debt you have, estate taxes, any college you’d like to pay for the children left behind, the income you will not be providing after death, as well as factoring in the cost of inflation. Talking over your needs with a licensed agent can better get you to the number you need than pulling an arbitrary number out of a hat.

Can I insure myself?

There is a thing called “insurable interest” that means that only someone who will feel your loss can insure you. So no strangers and not yourself. Besides family, creditors and business partners may fall in to the category of “insurable interest”.

TruePoint Insurance, serving Savannah GA, is here to answer whatever insurance questions and concerns you may have. Call or come by the office to speak with one of our licensed insurance agents today.

The kind souls of Savannah, GA are helpful and creative people, as we at TruePoint Insurance have found out since moving into the area. We’d like to help you put that potential to work as your own boss with business insurance coverage.

The first insurance risk that every business needs to evaluate is their workers’ compensation liability. Any company that has three or more employees is required by state law to have coverage, and there are good cases for having the coverage when you have even a single employee.

Your other liabilities will depend on the type of service that your company provides. If you sell crafted goods through an online store, you won’t have the same risk as if you opened a food truck. When you discuss your company with your provider or agent, always accurately answer any questions about your operations. Even if you’re not lying to them, you may end up underinsured with a huge liability risk.

The last major component of your business insurance will be property coverage. This will be broken down into different types of assets and causes of damage, but the typical policy setup will include coverage for both your business’s own buildings, fixtures, and equipment as well as any under its custody throughout the course of doing business.

Other types of coverage exist, but the details may change depending on the provider. For more details, contact an insurance agent like us at TruePoint Insurance whose job is to get you into the right policy for your liabilities and assets. With your insurance needs properly covered, you can get back to starting or running your small business in Savannah, GA with fewer distractions on your mind.

The only time that you absolutely need collision insurance and comprehensive insurance in Savannah, GA is when your lender requires it. In other cases, it can be a good idea. In some cases, it’s not worth the expense.

At TruePoint Insurance, we will be able to help you determine if you need it or not. There are some things to consider when you are renewing or updating your Georgia auto insurance policy.

The Car Value

If you have an older car or one that is only worth a few thousand dollars, you may not need collision or comprehensive insurance. The damage to your vehicle may be worth more than the insurance coverage.

You will have a car replaced with the value of your vehicle. If it doesn’t have a high value, and your lender doesn’t require it, these coverages may not be worth it.

Deductible Amount

This ties into the value of your car. If you have a high deductible so that you can save on premiums, then collision insurance or comprehensive insurance won’t be worth it.

If your deductible amount is the same as the amount on your replacement value, for example, neither collision nor comprehensive insurance is worth the added costs to your premiums.

You can apply for that extra money every month to other coverages for your auto insurance, or just get the minimum liability coverages you need for auto insurance.

When You Need Collision and Comprehensive Insurance

If you have a newer car or a car worth a high value, you will think more seriously about collision insurance and comprehensive insurance. If you want to replace your car to the same value that you have now, these are coverages worth getting.

Talk to a Broker

When you are looking at renewing or updating your auto insurance policy in Savannah, GA, it is always best to talk to a broker or insurance agent and find out how to get the best policy for your situation. Call TruePoint Insurance for a quote today.

From small business owners to leaders of massive corporations, every person who runs a company should take the time to evaluate their commercial insurance coverage. At TruePoint Insurance, we recommend doing so in these cases.

When Your Revenue Grows

Growing revenue is what every business wants, but your company tends to take on additional risks as it expands. You may hire new employees, open a new location, or add vehicles to the company fleet. Workers’ compensation is required for any Savannah, GA business that has three or more employees, and all vehicles need commercial auto coverage. Beyond that, your coverage limits on perils like business interruption may no longer be enough to cover the losses.

When You Shed or Lower Risks

Insurance policy costs reflect the risks that your business faces. Some risks will be a part of your company’s existence no matter what you do, but there are some that fluctuate. When you move your business to a better location or no longer have a contract like shipping volatile goods, you have lowered your overall risk. Showing these improvements to your commercial insurance provider or using them to shop for a new policy could result in lower costs or improved benefits.

When Doing an Annual Review

No matter what’s going on with your business, regularly checking on your existing financial obligations and protections is a good habit. Look over your policy at least once a year, evaluate the monetary values against your business’s assets and revenue, and consider the likely costs of the covered perils. If you’re a TruePoint Insurance customer or live in the Savannah, GA area, you can contact us at any time to compare your current insurance policy with other options.