Insurance Policyholder Rights and Protections

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Making financial decisions can be challenging for anyone. Many people choose to protect their family’s financial future by purchasing a life insurance policy. At Commerce Insurance Agency, we are dedicated to providing insurance services and support to clients in the Commerce, GA area. We’ve been assisting clients like you since 2009 and are here to answer your questions about life insurance.

Policyholder Rights and Protections

When considering a life insurance policy, you may primarily think about its future value to your family. According to Legal Clarity, Georgia state laws provide rights and protections to insurance policyholders. For example, Georgia law allows you to utilize a 10-day “Free Look” period after purchasing an insurance policy. During this time, you can cancel your policy and receive a full refund.

Additionally, Georgia state laws prevent insurance companies from discriminating against clients based on race, national origin, or disability. When you purchase an insurance policy, your agent is required to explain all terms and conditions clearly. If you fail to pay your premium on time, the insurance company cannot automatically cancel your policy. Instead, they must notify you in writing before canceling your coverage.

Call Us Today for Your Appointment

While you may have many current financial priorities, it’s important not to overlook the financial needs your family would face if you were to pass away. At Commerce Insurance Agency, we are locally owned and operated, and clients in the Commerce, GA area have relied on us for over 20 years. Give us a call today to schedule an appointment and learn how life insurance can help protect your family’s future.

The Homeowner Assistance Fund

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When you buy a home, protecting your investment is essential. Many homeowners address this need by purchasing homeowners’ insurance. If you live near Commerce, GA, our team at Commerce Insurance Agency is ready to help you choose the right insurance policy to meet your needs. Since 2009, we’ve been assisting homeowners like you with personalized insurance solutions.

The Homeowner Assistance Fund

Georgia’s state government recognizes that rising costs can put homeowners at risk of foreclosure or losing access to utilities. To address this, the Homeowner Assistance Fund (HAF) was established through the American Rescue Plan Act to support the nation’s most vulnerable homeowners. Funds have been distributed across states, U.S. territories, and Indian tribes to prevent homeowners from losing their homes or power.

According to the U.S. Department of the Treasury, this program has provided assistance to nearly 550,000 people. Data shows that much of this aid has gone to underserved families and homeowners, including those who are disabled, female, or people of color. Georgia residents who believe they may qualify for HAF funds can apply through the Georgia Department of Community Affairs.

Call Us Today for Your Appointment

At Commerce Insurance Agency, we understand the importance of your investment in your home. Our agents are trained to provide the information you need to make informed insurance choices. Homeowners near Commerce, GA have come to rely on our team for exceptional customer service and support. Contact us today to schedule an appointment and let us help you protect your home.

Lapses of Insurance Coverage

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If you drive a car in Georgia, state laws require you to maintain active auto insurance coverage. Many Georgia drivers have questions about their auto insurance policies and what happens in certain situations. If you live near Commerce, GA, our team at Commerce Insurance Agency is here to help answer your questions. We’ve been assisting clients like you since 2009.

Understanding Lapses in Insurance Coverage

When you purchase auto insurance, it’s essential to keep your policy active. But what happens if there’s a lapse in coverage? According to the Georgia Department of Revenue, a lapse occurs if there are more than ten days between the end date of your previous policy and the start date of a new policy. A lapse can also occur if your auto insurance expires and the state does not receive notification of a new policy within 30 days of the old policy’s closure.

However, there will be no lapse in coverage if the last day of your previous policy aligns with the first day of your new policy. It’s important to avoid lapses, as they can result in fines and the possible suspension of your vehicle’s registration. Registration cannot be renewed until all fines are paid and the vehicle is insured again.

Call Us Today for Your Appointment

Every driver’s insurance needs are unique, and it’s important to ensure your auto insurance policy is the right fit for you. Our team at Commerce Insurance Agency is ready to work with you to provide the insurance solutions you need. Drivers in the Commerce, GA, area trust us for reliable insurance information and support. Contact us today to schedule an appointment, and let’s work together to protect your vehicle and your peace of mind.

Does a Child Need Life Insurance?

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Life insurance is crucial for protecting a family if the primary wage earner suddenly passes away. The coverage assists with navigating through the struggles of losing a loved one. Today’s latest life insurance trend reflects the importance of policy benefits as parents choose to get life insurance for their children. Commerce Insurance Agency of Commerce, GA can provide information that aligns with your coverage needs.

The Coverage Provided by Child Life Insurance

A child life insurance policy functions similarly to an adult life insurance policy. The policy’s beneficiary does receive the benefits if the child passes away unexpectedly. Usually, the beneficiary is the parents, siblings, or grandparents. It is best to create a separate life insurance policy for your child so that they can take full advantage of the benefits provided. However, most agreements have a cap limit for the policyholder being no older than 17 years old before the life insurance policy transitions into an adult life insurance policy. Once your child becomes 18 years old, they take control as the policy’s sole decision-maker.

Child Life Insurance Could Become a Worthy Investment

Parents choose to create a life insurance policy as an investment in their child’s future. It will provide them with flexibility that has the potential to grow over time. The wording of the policy agreement covers them for their entire life. Your child could borrow or make a withdrawal against the value of the life insurance policy to pay college tuition, make a down payment on a home, or begin a new business venture.

If you have further questions about child life insurance, contact the staff at Commerce Insurance Agency of Commerce, GA. They have the experience to ease your concerns with knowledgeable answers that provide information to help you make a quality decision. Call and schedule an appointment today.

Reasons why you may need to review your home insurance policy

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Like many other types of insurance, it’s crucial to review your home insurance policy. When your policy arrives, the front page, also known as the declaration page, will provide a summary of your coverage. You should look it over and see if it makes sense. It provides replacement coverage, content coverage, your liability coverage, and any additional add-ons you have. With this information, you can determine if your coverage is appropriate. Getting the right insurance agent in Commerce, GA is as easy as contacting our team at Commerce Insurance Agency.

Have you made improvements to your home?

Not every improvement you make to your home will increase its value, but adding square footage may significantly increase its value. Have you finished your basement or your attic? Added dormers to your roof? Converted a screened porch into a room? Added another bathroom? Have you upgraded your floors or kitchen? All of these can increase the value and thus the replacement cost of your home.

Have you bought or received an expensive item?

Your content coverage has some areas that have limitations. If you have more than the minimum amount of jewelry, you probably need to get it appraised and check your coverage. If you collect art or antiques, you’ll need a waiver to get the coverage you need. If you love expensive electronics, you could be left high and dry if your home suffers a catastrophic loss.

Check for discounts you may be eligible for

Specific safety equipment can make you eligible for a lower rate. Have you replaced your roof recently? Do you have all your insurance coverage with the same carrier? Talk to your agent to ensure you’re getting everything you deserve.

Contact our independent agents at Commerce Insurance Agency in Commerce, GA for all your home insurance needs.

The Impact of Technology on Vehicles and Drivers

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The safety of our roads today primarily hinges on two factors: vehicles and their drivers. Technology also significantly impacts these two areas. Essentially, the question isn’t so much about the influence of technology on driving safety as how technology affects vehicles and their drivers. Ensuring safety and protection on the roads is why many drivers in Commerce, GA, rely on the professional and experienced team at Commerce Insurance Agency for their auto insurance needs.

Technology’s Influence on Vehicles and Drivers

While the debate over driving safety and the impact of technology continues, one thing is clear: there are two sides to this discussion. Advocates for technology in vehicles and driver safety will quickly highlight the improvements technology has brought in making vehicles safer. Conversely, those who express concerns about the impact of technology on driving safety will point out issues like distracted driving or accidents related to texting.

Regardless of the final outcome of this controversy, driving safety will always be a concern for anyone who drives. That’s why it’s beneficial to work with knowledgeable and professional agents who can provide the right auto insurance solutions for your needs, irrespective of your stance on the technology and driving safety debate.

Auto Insurance Solutions for Drivers in Commerce, GA

If you reside in the Commerce, GA area and have questions or need auto insurance for your vehicle, we’re here to help. Contact us to learn more and schedule an appointment with our Commerce Insurance Agency team today for the auto insurance solutions you need and deserve.

How Whole Life Insurance Works

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Life insurance is essential to protect your family when you’re gone. The two main types that are popular with policyholders include whole life and term life policies. Term life policies work very differently from whole life policies. Whole life comes with several benefits that keep people interested in this type of life insurance. When you’re looking for life insurance, we’re here to help. Call us at Commerce Insurance Agency in Commerce, GA.

Whole Life Insurance: No Expiration Date

At its core, whole life policies work like all life insurance policies. They pay out a death benefit when the policyholder dies. However, unlike term life policies, whole life policies don’t have an expiration date. There is never an expiration date with whole life, and policyholders can keep their policies for as long as they like. This is important for providing coverage during the later years when it would be difficult to get a new policy. The insurance company can’t cancel these policies as long as you keep paying the premiums.

Whole Life Insurance: Builds a Cash Value

Another benefit of this type of insurance is that the policy will build up a cash value over time. Starting out small, this is an amount that grows over the years and will be available if you ever need to borrow it. Many people choose this type of life insurance for just this reason. It can bring peace of mind to know that funds will be available to borrow if you should ever need to.

Get Whole Life Insurance

It’s important always to have life insurance to protect your loved ones against financial problems. If you’re looking for a policy, contact us at Commerce Insurance Agency in Commerce, GA, to learn more and get started.

Will My Home Insurance Cover Stored Recreational Vehicles?

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If you own one or more recreational vehicles in Commerce, GA, chances are you probably store them on your property when they are not in use. Whether the RV is a motorhome or a smaller vehicle like a snowmobile or personal watercraft, you want to protect your investment. Those new to the world of recreational vehicles often believe that homeowner’s insurance will protect their RVs while stored on their property. Commerce Insurance Agency can help you determine whether you have sufficient coverage for your big toys.

Read Your Homeowner’s Policy

Most homeowner’s policies will provide some protection when you store recreational vehicles on your property. Most of the time, you must store the vehicle in a garage or another type of shed to keep the vehicle out of the elements. However, each company and policy is different, so reading the coverage provisions is vital to knowing what is covered, what is not, and how much of a deductible you will need to pay in case of a claim. If you have a large motorhome, fifth wheel, or if your RV is quite valuable, considering standalone RV coverage may be in your best interests.

Consider Dedicated RV Insurance

Just as your auto insurance will only offer you minimal protection for recreational vehicles, so will your homeowner’s insurance. A better solution is to buy a recreational vehicle insurance policy to protect your RV, whether on the road or at home. Some companies may have provisions for lower premiums if you keep your RV garaged for an extended length of time due to reduced risk.

Let the professionals at Commerce Insurance Agency, serving Commerce, GA, help you find the right solution for protecting your RV at home. Contact our office today for an appointment to start your insurance protection.

Basic auto insurance add-ons to consider

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In Georgia, basic insurance is mandatory for driving on the roads. The state requires a minimum liability coverage of 25/50/25 to protect other drivers. This coverage includes $25,000 for the first person injured, $50,000 for all injuries, and an additional $25,000 for property damage. At Commerce Insurance Agency in Commerce, GA, we ensure all our customers have the right amount of insurance.

Collision Coverage

Collision coverage pays for repairing or replacing your vehicle if it’s damaged in an accident where you’re at fault. This coverage comes with a deductible that you’ll need to pay.

Comprehensive Coverage

Also known as non-collision coverage, comprehensive coverage protects your vehicle from various types of damage caused by wind and water. It also covers theft, vandalism, and damage caused by large animals like deer. This coverage also includes a deductible.

Gap Coverage

If you have a newer vehicle with an auto loan, considering the rapid depreciation of vehicles once driven off the lot, you might owe more on your vehicle than your insurance will pay to replace it. Gap insurance covers the difference between what you owe and what you receive from the insurance company.

Full Glass Coverage

While comprehensive coverage includes glass coverage, it comes with a deductible. Opting for full glass coverage means you won’t have to pay any deductible to replace your windshield.

Rental Car Coverage

If your vehicle is damaged in an accident or totaled, you might be without a vehicle for a few weeks. Rental coverage ensures you can get a rental vehicle during this period.

Contact Commerce Insurance Agency in Commerce, GA, to discuss your auto insurance needs with one of our independent agents.

Understanding the Pros and Cons of Term Life Insurance

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Life insurance provides your immediate family with the financial assistance needed to cover funeral expenses and large bills such as college tuition and mortgage payments. However, not all policies are equal. Term life insurance, which is popular due to its relatively low price tag, has both advantages and disadvantages. Commerce, GA residents will want to carefully consider this type of policy’s pros and cons to make an informed decision.

How Does Term Life Insurance Work?

When you purchase term life insurance, you choose the length of the policy, be it ten years, twenty years, or thirty years. If you die before the policy ends, your beneficiaries will receive a payout. If your policy expires before your demise, you get nothing.

Term life insurance is ideal if you need affordable coverage that offers protection for specific expenses. However, it’s less than ideal if you want to build a nest egg. While more expensive than term coverage, whole life insurance builds cash value that you can access while you’re still alive. What’s more, if you purchase whole life insurance, you don’t have to worry about renewing your policy at a later date. On the other hand, if you decide to renew term life insurance once it expires, your premiums will go up. This is especially true if you’ve developed a medical condition since the time you originally purchased your term insurance policy.

Get Life Insurance Help from Commerce Insurance Agency in Commerce, GA

Purchasing life insurance is an ideal way to protect your family from financial ruin. At Commerce Insurance Agency, we offer personalized advice and assistance to help each client review policy options and pick the policy that’s the best fit for their personal situation. Contact us to learn more about our policy options or to get a life insurance policy quote.