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It’s the start of a new school year. Although this academic year may operate differently, college students will still be fleeing the nest and living in their university’s dorms. You may be wondering, “Will my homeowner’s coverage extend to my college student?” Yes, it will! Fortunately, homeowners insurance companies provide complete financial protection for your college student while they are living in their dorm. However, your homeowner’s insurance policy will only be applicable if your student is under the age of 26. Beyond that, your college student would need to purchase their own renter’s coverage. Listed below are the different types of coverage that are included in your homeowner’s insurance: Personal Liability: Say your student damages school property, while unsettling, your personal liability insurance will help cover those damages. Additionally, it has the ability to pay for their legal defense in case of a lawsuit. Personal Property Coverage: In the event of any property damage in your child’s dorm room, your personal property coverage will protect your belongings. If there is any vandalism or damage to your child’s property, you will be covered! Medical Payments to others: In addition to Personal Liability Coverage, your homeowner’s insurance will cover any medical expenses if someone gets injured in your child’s dorm room. If the third-party were to sue, don’t worry...you will still be covered! Be sure to give AZ Insurance Team a call if you have any more questions. (480)535-5709

Although the worst is coming to an end here in the Phoenix Valley, temperatures are still reaching triple digits nearly every day. Needless to say, it is still brutally hot and without a doubt one of the worst things about the heat is how hot your vehicle can get, both inside and out. This can cause both you and your car to overheat, resulting in stress and potential repairs. Aside from the exceptionally obvious remedy of air conditioning, we're providing you with several other ways to keep your interior as well as parts of your car from getting too hot. We will begin with the engine itself, the most important part of your vehicle in terms of keeping it running. There are three critical steps you need to take to keep it from overheating: Limit your use of air conditioning : This one might seem unthinkable. We're not asking you to stop using your godsend AC in general, but your AC compressor runs off your engine so using it nonstop can cause your engine to work harder. Keep track of your oil: Having a sufficient amount of engine oil in your car will keep your engine from overheating. How often you should get an oil change depends on your vehicle and what conditions you drive in, so it's best to ask the advice of a professional. Keep track of your coolant: Your car also needs a sufficient amount of coolant (also known as antifreeze). Antifreeze has earned its name for having a low freezing point, but it also has a high boiling point. Having a sufficient amount of coolant will keep your engine cooler. Another crucial part of your car is the tires. Though less expensive to repair, the heat can quickly cause significant wear and tear, especially if you don't take the right precautions. To protect your tires, be sure that you are consistently checking their air pressure. When tires are underinflated they cover more surface area of the ground and therefore create more friction with the ultra-hot pavement. This causes them to wear quickly and can even create holes in the rubber. Lastly, there are four essential steps to take to keep the inside of your car cool, and in turn making sure you don't feel like you're melting into your car seat. Use sunshades: You've no doubt seen them everywhere. Sunshades, as the name states, shade your car from the sun. Keeping sunlight out of your car is vital in terms of keeping it cool. You should at the very least have one to put on your windshield to keep the driver's seat from getting too hot. Crack your windows: Have your windows open very slightly when you're not in the car. This allows heat to exit your vehicle. Consider tinted windows: Tints cause some light to be bounced off of your windows while letting the rest in. It's important to keep in mind that at least 70% of light needs to pass through in order for the tinted windows to be legal in the U.S Use water and a cloth/rag: Water is great for cooling of surfaces. Keep water with you, preferably cold or cool, put some on a cloth and wipe down your steering wheel, gear switch, etc. Hope this helps you and your car survive the long, hot summers. Contact us with any questions at: AZ Insurance Team 480-535-5709 https://www.azinsuranceteam.com/contact *All policies are a little different and this may not be applicable to your insurance policy, talk to your agent to see what your policy covers.* *This post was originally published in July, 2017 and has been updated for freshness, accuracy, and comprehensiveness*

In many states it is the law to call the authorities immediately after an accident. There are many reasons of why this is required and essential especially when it comes to filing insurance claims and determining who is at fault. Medical Care In the case of a serious injury medical care would be the first thing that you need. Police are likely to arrive on the scene and they will be able to provide basic medical care if needed and call EMT's if necessary. Police are an important part of getting the medical treatment process started. Protecting the Scene of the Accident In the case of severe accidents, the police will block off the area around the crash. Police are able to block off the road, or at least some section of it ensuring the area is free of traffic while they conduct their investigation and other emergency personnel clear the area. This will create a safe environment for your and any other people on the scene to be able to talk to police. Investigating the Cause of the Accident After the accident, you're going to want trained professionals to evaluate the cause of what happened. This will me imperative when and if you file a claim with your insurance company or if you bring the other driver to court. Police may gather witness reports, collect information on the parties involved in an accident, and test to see whether the other driver is under the influence of drugs or alcohol. If you suspect that the other driver is under the influence, roadside tests can help confirm suspicion. This can be another major reason to call the police to the scene. Police Report The most important reason to get the police onto the scene of an accident is because they need to prepare a report. This document will be extremely important, especially if you plan on bringing the other driver to court. The police report will include an assessment of the cause of the accident and the damage done in the crash. AZ Insurance Team 480-535-5709 https://www.azinsuranceteam.com/contact *All policies are a little different and this may not be applicable to your insurance policy, talk to your agent to see what your policy covers.* *This post was originally published in July, 2017 and has been updated for freshness, accuracy, and comprehensiveness*

Diminished value is defined as the perceived loss in value of a car following a car accident due to the fact it was in an accident even after repairs have been done. Meaning, if you're car is damaged in an accident, even if it is repaired and is "good as new" because it has a damage history the resale value of the car will decrease. There are three types of diminished value Immediate Diminished Value - Difference in car value from before accident to after (when repairs have been done) Inherent Diminished Value - Repaired to its original condition as closely as possible Repair - Related Diminished Value - lost value due to low-quality repairs after an accident. Why does a car have diminished value after an accident? The reason for a car's diminished value is purely due to the fact that it has been in an accident. Once your car is listed for sale following an accident, you're facing a diminished value. repairing the car will not cover this loss in value. What is a diminished value insurance claim? A diminished value insurance claim is when you request an amount of money from your car insurance company to compensate you for the difference between your car's value before the repairs (prior t the accident) and its current value now that is has been repaired. This value can easily amount to a few thousand dollars for newer vehicles. Will the insurance company pay for diminished value in my claim? You may be able to get compensated for the diminished value following a claim, depending on the circumstances, and which state you are living in. Each state and insurance company has different policies. Insurance companies don't always pay for a vehicles diminished value but many consumers feel that it is the insurance company's responsibility to pay for a diminished value claim. Insurance companies in most states will consider who is responsible for the accident to decide if they will pay a diminished value. How to make a diminished value claim First you have to get an evaluation to determine the diminished value. Once you have your evaluation and you know how much you are going to claim for diminished value with all of the supporting documentation, you can present your case to the insurance company and ask for compensation when you file your claim. AZ Insurance Team 480-535-5709 https://www.azinsuranceteam.com/contact *All policies are a little different and this may not be applicable to your insurance policy, talk to your agent to see what your policy covers.*

We have been asked if there is coverage for Coronavirus (COVID-19) claims under our Business Owners Policy (BOP). Our current perspective is that there is no coverage for property damage or business interruption virus-related losses in our BOP product. That is the standard for BOP carriers and the industry. Business Income Coverage does not apply when business slows or suspends operations due to viruses. Coverage for viruses is excluded because the exposure cannot be adequately quantified for pricing. More specifically, Business Income Coverage reads "We will pay for the actual loss of Business Income you sustain due to the necessary suspension of your 'operations' during the 'period of restoration.' The suspension must be caused by direct physical loss of — or damage to — property at the described premises. The loss or damage must be caused by — or result from — a Covered Cause of Loss." "Direct physical loss" and "damage to property" are the key words. Reaction to the threat of a virus, that in turn reduces sales, is not direct physical loss or property damage. Likewise, it is not a direct physical loss or property damage when suppliers cannot deliver items businesses need or cause operations to slow, even when that action is directed by a "Civil Authority"/government. And, most importantly, virus-, bacteria- and fungi-related losses are excluded under our BOP for property claims. Most carriers follow this approach and use these same forms and rules. If you have an insured who wishes to present a claim, they should contact our Claims team at (800) 220-1351 to receive a definitive answer and response to their losses. You may hear about new forms being described in a Professional Insurance Association (PIA) memo that could expand commercial coverage. These forms are designed for use with ISO's Commercial Property product, not Business Owners; we only sell BOP. ISO did not file these in any state; these forms are only examples of what a carrier could use should they choose. We have no plans to use these forms. We think it is unlikely any carrier would use these for BOP, and we do not know of any insurer currently doing so. We use the most current ISO BOP policy forms, which are the industry standard. We believe our competitors use the same, or similar, language. There are risks which are considered uninsurable by the industry - flood, terrorism, nuclear war, nuclear accident, etc. It is not possible to predict and price for these types of risks in a standard insurance policy. In some cases (i.e. flood or terrorism), the federal government created mechanisms to provide coverage. The risk related to viruses falls into this category. Damage from viruses is not insurable in a standard policy, so it is not covered. There are state legislatures around the country now considering government solutions for the many small businesses facing economic hardship due to COVID-19. We are actively watching to see how that progresses. Please let us know if you have any other questions. AZ Insurance Team 480-535-5709 https://www.azinsuranceteam.com/contact *All policies are a little different and this may not be applicable to your insurance policy, talk to your agent to see what your policy covers.*

Summer is right around the corner and it is about that time of year to start turning up the AC to avoid that dry desert heat. Before the Summer months come and it is unbearably hot you may want to know a few things about your homeowners insurance policy and when it covers your air conditioning unit repairs and when it does not. When Does Homeowners Insurance Cover AC Units? Home insurance covers AC units to the same extent the rest of your home is covered. Damage caused by fires, falling trees, vandalism, lightning strikes and sometimes flooding/water damage are all covered in standard homeowners policies. However, normal wear and tear on your air conditioning unit or accidental damage is not covered. So if your AC breaks after 10 years of use, then you won't be reimbursed for repair or replacement. Typically if there is a fire that destroys your AC unit, a replacement unit will be covered. Additionally, if your air conditioning unit is struck by lightning damaging electrical components, then your homeowners insurance should cover the repairs or replacement. In the case that a tree comes crashing down and destroys your AC unit, you are protected because policies typically cover damage caused by trees. If, for some strange reason, your AC unit is vandalized you are also covered since home insurance typically covers destruction from vandalism. When Isn't Your AC Covered by a Homeowners Insurance Policy? Homeowners insurance policies do not cover Ac malfunctions caused by lack of maintenance, general wear and tear, or accidents. An air conditioner that fails after 10 years of use won’t be covered by your home insurance. When it comes to water damage you should be very careful. Air conditioning units are not usually susceptible to water damage but they produce water themselves. If that water leaks into your home causing water damage you won't be covered because it would be considered a maintenance issue. This is why it is important to conditionally check on your AC unit to avoid any problems and unwanted expenses. Home Warranty To help reduce the cost of repairs on your home appliances consider getting a home warranty. Home warranties are also called home repair insurance and they cover the cost to repair your home's systems and appliances, including your air conditioner. To get a home warranty through us email us at staff@azinsuranceteam.com with you name, email, phone number and address or call us at 480-535-5709. With summer right around the corner you may want to check on your AC unit and make sure it is working properly. If you have any questions about your homeowners insurance policy give us a call at 480-535-5709 or email us at staff@azinsuranceteam.com. AZ Insurance Team 480-535-5709 https://www.azinsuranceteam.com/contact *All policies are a little different and this may not be applicable to your insurance policy, talk to your agent to see what your policy covers.*

The simple answer is yes, unless you live in Massachusetts, Hawaii, or California where they prohibit insurers from using consumer credit information. For the other 47 states it is legal to use this method to determine your insurance rates and is used more often than not. However, there is a difference between your credit score and the way insurers determine your credit based insurance rates. Credit Scores - Determined based on information from your credit report and are used by lending institutions to determine how likely it is that you will repay them on time. Also used to determine interest rates and determine loan qualification. Credit Based Insurance - Don't factor in your occupation, income history, gender, or any other personal information. Car insurance companies use them to determine the likelihood of an insurance claim in the future. How insurance companies determine your policy? Credit based insurance is used for establishing eligibility for payment plans and to determine rates. Most U.S. insurance companies use: Credit based insurance scores Driving history Claims history Where you live Age, make and model of your vehicle Miles driven per year Some factors that influence your credit based insurance score: Positive Factors Long establishing credit history No late payments or past due accounts Your open accounts are in good standing Negative Factors Past due payments Accounts in collection High amount of debt Short credit history High number of credit inquires FICO estimates approximately 95% of auto insurers use credit based insurance scores in states where it is legally allowed *All policies are a little different and this may not be applicable to your insurance policy, talk to your agent to see what your policy covers.* *This post was originally published in May, 2017 and has been updated for freshness, accuracy, and comprehensiveness*

If you are looking for a way to contribute to a more sustainable lifestyle then buying an Eco-friendly vehicle might be something to consider. An Eco-friendly vehicle or "green vehicle" is a motor vehicle that produces less harmful impacts to the environment than your average vehicle running on gas or diesel. An Eco-friendly vehicle car runs on electricity or a combination of electricity and hydrogen-based fuel. Some of the benefits include: Saving a significant amount of money on fuel: A hybrid Prius 46 has a gas tank that holds 11 gallons and allows you to drive 600 miles before refueling. The cost per mile is less than 8 cents per mile. Potential for a tax break: If you drive a green car you may be eligible for as much as $3000 back when you file taxes Less dependent on Fossil Fuels: Hybrid cards are much cleaner and require less fuel to run which means less emissions and less dependence on fossil fuels. Regenerative Breaking System: Each time you apply brake while driving a hybrid vehicle it helps you recharge your batter a little bit. Higher Resale Value: Hybrid vehicles are becoming more popular as the prices of gasoline increase. These vehicles have higher than average resale values. So in the case that you are not satisfied with your vehicle you can always sell it at a premium price to buyers looking for it. There are many advantages to owning a hybrid car. The one that is most appealing is how it helps you control your budget as gas prices continue to grow. The other benefit being the fact that you are making a difference on your impact on the environment. It reduces the dependence on fossil fuels and lowers your carbon imprint on the environment. TOP 5 Hybrid and Electric Cars for 2020 according to CarMax.com Ford Fusion Hybrid Toyota Prius Chevrolet Volt Ford Fusion Energi Toyota Prius C AZ Insurance Team 480-535-5709 https://www.azinsuranceteam.com/contact *All policies are a little different and this may not be applicable to your insurance policy, talk to your agent to see what your policy covers.*

Turning a quick profit entices many people to consider house flipping, which involves buying a house or property with the intention of selling it and making money in the process. Television shows like A&E's "Flip This House" make house flipping look easy. In reality, it's not always the case, especially when it comes to insuring the house you plan to flip. Here's what you need to know about finding the right home insurance for your house flipping project. How to get home insurance when you flip a house Whether the home in question was purchased brand-new or is in need of remodeling, it's best to call your insurer before you make a decision to purchase the home or sign any paperwork. Most insurers are not able to write insurance policies for house flippers.  Investment properties requiring renovation also present additional risks for your insurer due to builders coming and going as well as the threat of vandalism and theft. In addition, home investors often want to purchase a business structure policy under an LLC. An LLC protects your personal assets and is popular among home investors and flippers, but this also makes you an unappealing risk in the insurance company’s eyes What's the difference between a home and dwelling policy? Many new flippers are under insured. You have to be always sure to cover the amount of cost to replace the building and the amount of material you put into it. In order to do this, you'll need a dwelling policy, not a standard home insurance policy. Dwelling policies cover only a home's physical structure, where homeowner's insurance includes coverage for the contents of your home as well. Expect a dwelling policy to cost you 25 to 40 percent more than a homeowner's policy. "Unlike a typical homeowner's policy, a dwelling policy may be more expensive, but you also have options," Gatewood says. A standard homeowner's policy typically includes: · Coverage for dwelling your main house). · Cover for other structures such as attached garage). · Contents of the home. · Loss of use for a hotel if you're unable to live in your home). · Personal liability. · Medical expenses. A dwelling policy, on the other hand, requires you to build the policy based on your needs; you can pick and choose your coverage. For example, you likely won't need as much coverage, if any, for the contents of the home as you would for the home in which you live. You would, however, want to include coverage for building materials such as tile, which would be lying around during the construction process.  You would only factor this into the equation is you as the owner of the house owns the tile and not the contractor. Use only licensed contractors House flipping presents many potential liabilities that a typical homeowner might not consider. Insurers probably will want to know that the people working on your home are licensed. Most will not issue you a policy if an unlicensed but helpful friend, relative or you yourself are doing the renovations. Many times the type of policy will change during the lifetime of the investment house, . When construction finishes, the new home may need a vacant home policy and then if the home is rented, it may need a dwelling policy. It's the responsibility of the investment property owner to speak with their insurer throughout the process and know the insurance requirements of the building at any given time. AZ Insurance Team 480-535-5709 https://www.azinsuranceteam.com *All policies are a little different and this may not be applicable to your insurance policy, talk to your agent to see what your policy covers.* *This post was originally published in May, 2017 and has been updated for freshness, accuracy, and comprehensiveness*

Life insurance very common for people who have children and do not want to risk leaving them with nothing in the case of an unexpected death. Many people assume that the parent with a job is the only one that needs coverage because they are the ones that are bringing in the money every month to support their family. What people don't understand is that stay-at-home parents also need coverage as well and they are just as valuable. Here are some reasons why. The first is that people underestimate the value of time and effort that stay-at-home parents put into taking care of the children every day. Typically if you are a parent taking care of the kids you are helping them with school, cooking, cleaning, driving them to and from school and extracurricular activities. This is a lot more work than people think. Salary.com states that stay-at-home parents contribute an equivalent of $162,581 annual salary to their households. If something were to happen to the stay-at-home mom or dad, how would the remaining parent afford to support that loss? Another reason why it is important that stay-at-home parents have life insurance is to cover any debt from student loans, credit cards, etc. and to cover funeral costs. Sadly the funeral costs are the start of many expenses that need to be taken care especially when an unexpected death occurs. There are two main types of life insurance. Term life insurance and permanent life insurance. For many parents term life insurance is the best plan for them. Term life insurance covers you for a set amount of years, usually 10, 20 or 30 years depending on your policy which is time for you to pay off your mortgage and raise your kids until they are financially independent. Permanent life insurance is another option that gives you lifelong coverage. There are two primary types of permanent life insurance, whole life and universal life. Whole life insurance offers coverage for the full lifetime of the insured and its savings can grow at a guaranteed rate. Universal life insurance also offers a savings element in addition to the death benefit, but offers different types of premium structures based on market performance. No one wants their child growing up without mom or dad, but it is every parents responsibility to make sure that in the case of an unexpected death that their kids will be taken care of financially. As you can see, it is just as important for stay-at-home parents have a life insurance policy as it is for a parent working outside of their home. If you have any questions feel free to call us at 480.535.5709 or visit azinsuranceteam.com/life. AZ Insurance Team 480-535-5709 https://www.azinsuranceteam.com/contact *All policies are a little different and this may not be applicable to your insurance policy, talk to your agent to see what your policy covers.*

How much life insurance do you need? No one really wants to think about life insurance but if you have loved ones that are financially dependent on you then life insurance isn't something you want to ignore. The funeral costs are typically the smallest bills left behind when someone passes away. It's the mortgage or rent payment, car payment, debt left behind, and day to day expenses that affect your loved ones the most. How much life insurance is enough? The general "rule of thumb" is to multiply your income by 10, however based on our economy today it has become an outdated rule. You need to take a detailed look into your family's needs, and your savings when deciding how much life insurance coverage you may need. Take your kid's college expenses into consideration. Education expenses are an important part of your life insurance calculation if you have children. Adding $100,000 per child onto your life insurance policy is a smart idea if you are expecting your kids to attend a college or university at some point in their lives. The DIME formula. DIME stands for debt, income, mortgage and education, which are four areas that you should consider when calculating your life insurance needs. Debt: add up your debt and expenses Income: decide how many years your family would need support and multiply that number by your annual income Mortgage: Determine the amount you need to pay off your mortgage. Education: Estimate the cost of sending your kids to college. This DIME formula is a great set of basic guidelines that will help you get a general idea of how much coverage you will need. There are many tools online that can help you determine how much debt and income replacement is necessary for your policy. For more information about life insurance please visit https://www.azinsuranceteam.com/life or call us at 480-535-5709. AZ Insurance Team 480-535-5709 https://www.azinsuranceteam.com/contact *All policies are a little different and this may not be applicable to your insurance policy, talk to your agent to see what your policy covers.*

Many of us avoid thinking or talking about life insurance as thinking about death isn’t exactly the most enjoyable way to spend our time. We will, however, do anything to protect our loved ones, and making sure those that depend on you are properly protected in the event of your death is all-important. Life insurance can be confusing so were here to debunk five common myths related to life insurance. 1. It's expensive. According to a study conducted by Life Happens and LIMRA, “cost is the reason most Americans give for not owning life insurance, yet 80% of consumers misjudge the price for term life insurance, with Millennials overestimating the cost by 213%, and Gen Xers overestimating the cost by 119%. “ The truth is life insurance can cost less than one dollar a day. 2. I don't have kids so I don't need life insurance. This is false as not having children doesn't mean you don't have anyone who is financially dependent on you. Whether you have a spouse or aging parents that rely on your income, having life insurance will protect them in the event that you pass away. 3. The life insurance I get through my work is sufficient. Many employers offer a life insurance plan to their employees. Though this is still beneficial, it typically only offers you with coverage equal to 1-2 times your annual salary, while you generally need closer to 5-8 times your salary. Some experts even recommend 10-12 times your annual salary. You may also lose your life insurance coverage if you leave your job. It’s best to speak with an agent about whether your employer’s life insurance coverage is sufficient. 4. My health will disqualify me from being able to purchase life insurance. Being ill does not necessarily disqualify you from being able to get life insurance. It can, however, increase the amount that you pay. There are a lot of companies that specialize in high-risk cases as well. 5. I am too young to worry about life insurance. The amount you pay for life insurance depends on many factors, but age and health are both very important. The longer you wait to get life insurance the more expensive it becomes, so it's important to start considering it early in your life. AZ Insurance Team 480-535-5709 https://www.azinsuranceteam.com/contact *All policies are a little different and this may not be applicable to your insurance policy, talk to your agent to see what your policy covers.* *This post was originally published in May, 2017 and has been updated for freshness, accuracy, and comprehensiveness*