It’s important to understand that most claims against the policy will be due to the actions of the RV. This can include things like driving under the influence of drugs or alcohol, causing an accident intentionally, or even simply driving too fast for the conditions. For inquiries, give us a call at J.B. Martin Insurance Agency serving New Mexico and Arizona.
Motorhome Insurance Policies: What You Need To Know
One of the most common concerns among prospective RVers is the cost of RV insurance. Reduced cost RV insurance is a common marketing ploy in the RV industry, and it’s important to be cautious when considering any such offer.
Many people don’t realize that their RV, van, or motorhome can be considered a “motorized vehicle” and therefore fall under the umbrella of RV insurance. However, you should be aware of the most common claims made against RV insurance.
Recreational vehicles or motorhomes are valuable pieces of property. Because of this, RV owners need to be very careful when making repairs to their RV to avoid the pitfalls of making false claims against their RV insurance. Common claims against RV insurance include:
- Property damage
- Loss of use
- Medical expenses
- Rental car coverage
- RV/boat rider coverage
- Dog bite coverage
- Motorcycle rider coverage
- Snowmobile rider coverage
Many people believe that since a motorhome is used for both recreational and daily activities, it doesn’t necessarily fall under the definition of a car or a truck, and therefore doesn’t need a car insurance policy. This may be true for the everyday use of a motorhome, but it won’t protect you from liability or crash damages if you are involved in an incident that was not related to everyday use.
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There are a wide variety of common misconceptions about motorhome insurance that people may have. As long as you’ve registered the motorhome with the Highway Traffic Act and isn’t used as a car, it will be insured.
You just need to know the typical risks associated with a motorhome. To seek expert advice in New Mexico and Arizona, consult with us at J.B. Martin Insurance Agency.
When you want to have the best protection you can from your insurance, you may need an umbrella policy. This policy boosts the amount of insurance that you have with two of your existing policies so that you are better protected. In New Mexico and Arizona, you can contact us at J.B. Martin Insurance Agency to find out more about these policies.
How Umbrella Insurance Protects You
If you already have a home insurance policy and an auto insurance policy, you may believe that you are well protected. However, these policies are well-known for having little liability coverage in them. This can leave you vulnerable to paying for overages if your policy doesn’t pay enough for a serious accident. When you need more liability coverage for both of these policies, an umbrella policy will do that for you. It adds liability insurance onto both of these policies, and it does it for far less than you’d pay if you added directly to both your home and auto policies.
Stay Protected With Umbrella Insurance
When you have home and auto insurance, the correct policy will respond after an accident has taken place. The policy will pay for the medical bills and other expenses that are due after an accident causes injuries. However, if you don’t have enough coverage, it won’t pay for all of them, and you’ll owe the rest. That’s when umbrella insurance steps in. It pays that amount that’s left over so that you don’t have to. This can save you thousands in medical bills after a serious accident.
Get Your Umbrella Policy
When you have home and auto insurance, you may not have enough liability protection. To be better protected, give us a call at J.B. Martin Insurance Agency in New Mexico and Arizona to talk about umbrella policies with an agent.
In New Mexico and Arizona, a renters insurance policy is a good idea to have to help cover incidentals. Here’s what you need to know about renters insurance in both these states, and how J.B. Martin Insurance Agency can help.
Is Renters Insurance a Requirement?
No. Renters insurance is not a requirement in Arizona or New Mexico, but it’s a good type of insurance to have because it helps cover the cost of incidental damages, such as theft, water backup damage, and specific natural disasters. Although your landlord may have insurance coverage for their property, you will want to have a policy of your own to cover the instances your landlord’s policy does not.
What Does Renters Insurance Include?
When you have an active renters insurance policy, you will have coverage for your belongings for instances that include:
- Smoke damage
- Water damage
- Guest injuries
Standard Renters Insurance Coverage Options in New Mexico and Arizona
Standard renters insurance coverage options in New Mexico and Arizona include:
- Personal property
- Loss of use
Personal property coverage gives you coverage for furniture, appliances, electronics, and clothing. If you have jewelry, collectibles, or art, you will need a separate insurance policy to cover these items. Liability coverage helps handle any injuries that occur in your residence. Loss of use coverage is beneficial in the event your residence becomes inhabitable and is a covered loss. This type of coverage helps cover lodging and grocery expenses.
At J.B. Martin Insurance Agency, we are dedicated to providing you with excellent customer service and a variety of insurance policies to meet your needs. Contact us today to learn more about our insurance services and how we can help.
When you bought your first vehicle, you might have pored over your auto insurance policy details. But, after that, you may have just kept renewing the same policy without giving it much thought. This is why the J.B. Martin Insurance Agency team advises our New Mexico and Arizona clients to regularly review their auto policies.
Reviewing your auto policy
Your auto insurance needs can change, even if you keep the same car. This necessity can be based on the replacement value of your car, the number of miles you are driving each year, and if another person is driving your vehicle regularly.
If you want to make sure that your auto policy is keeping pace with your insurance needs, it makes sense to conduct a review on a regular basis. Some find that taking a close look prior to renewing every six months is good for them. For others, an annual review is deemed sufficient.
Whatever cadence you choose, taking a close look at your auto policy on a regular basis is a smart move! You can identify any gaps in a timely manner and make sure that they are corrected. This review can be informative about any features you may miss out on. In fact, upgrading your policy after a review is very common as many people decide that their current policy no longer meets their needs.
Just like so many other things in life, insurance needs can change over time.
Give us a call today!
Here at J.B. Martin Insurance Agency, we are proud to serve all of the insurance needs of our New Mexico and Arizona clients. If you have questions about your insurance policies, call or stop by today!
J.B. Martin Insurance Agency is an independent agency. For over 30 years, we have helped New Mexico and Arizona residents find the coverage they need to live comfortably. We work closely with various carriers across the Pacific Northwest. We assess each of our client’s situations on a personal basis. This allows our clients to find policies tailored to their unique needs.
Life Insurance Myths Exposed
Planning for the future can be difficult. You have to prepare for every scenario. At some point, you will pass away, and your legacy will remain. Life insurance is an asset because it helps you establish a plan for how you’d like things to go once you’ve passed away. A strong life insurance policy makes things easier on your loved ones as they deal with your transition. Life insurance can help finalize your funeral arrangements or help your loved ones continue to live comfortably. As you look over your life insurance policy, beware of these myths.
Life Insurance Isn’t Necessary Because I’m Single
Even if you are single with no children, life insurance is still beneficial. You can avoid complicating things for your loved ones as they finalize your affairs. Life insurance allows you to avoid putting your loved ones in an uncomfortable position.
I Can Rely On My Group Insurance Policy
While you may obtain coverage through your New Mexico and Arizona employer, your life insurance benefits may be limited. You are sharing coverage with your co-workers. Having your own life insurance policy allows you to enjoy more flexibility. You can choose terms that align with your personal situation.
J.B. Martin Insurance Agency Will Help You Cover Your Assets
Visit our website to learn more information about life insurance.
Who needs homeowners’ insurance?
At J.B. Martin Insurance Agency of New Mexico and Arizona, we think it makes sense to carry homeowners’ insurance no matter what. Of course, sometimes you must purchase a policy and you need to know when it isn’t negotiable.
No state requires homeowners’ insurance, but if you carry a mortgage on your home, you will need to purchase a policy. Banks and credit unions require this insurance when they issue you a loan. They’re protecting their risk. Technically, until you pay the mortgage off, the bank owns the home. They require you to buy homeowners’ insurance so they can reduce their own risk of loaning you money.
Here’s how that works. Since the bank graciously loans you the money and has already put itself at risk, since some people do not repay their loans, they want a guarantee that the loan would get paid in case of disaster. Homeowners insurance covers the structure of the building and other buildings on the property from named perils. The financial institution typically requires minimum coverage of H0-3, which covers most named perils.
If a named peril, such as fire or tornado, occurs and damages your home or destroys it, the home insurance covers the damage or the cost of rebuilding the home. If the bank still holds the mortgage, the insurance pays the mortgage. The bank does not lose its money and you do not need to pay out of pocket to have your home repaired or rebuilt.
Let J.B. Martin Insurance Agency serving New Mexico and Arizona help you obtain the home policy you need to protect your home. If you want to take out a mortgage, the bank will require you to buy a home insurance policy.