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Fida Insurance Group

244 Monroe Turnpike (Route 111)
Monroe, CT 06468

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Teenage Drivers and Auto Insurance: What You Need to Know in Monroe, CT

Navigating the auto insurance world for teenage drivers can be challenging for parents. At Fida Insurance Group, we understand your concerns and are here to help you find the right coverage to protect your young driver in Monroe, CT.

The Impact of Teenage Drivers on Auto Insurance

Statistically, teenage drivers are more likely to be involved in accidents, resulting in higher insurance premiums. These increased rates reflect the added risk that comes with insuring inexperienced drivers. Parents need to be aware of this when adding their teenager to their auto insurance policy.

Ways to Lower Insurance Costs for Teenage Drivers

While insuring teenage drivers can be costly, there are ways to help reduce the financial burden. Some options include:

  1. Good Student Discounts: Many insurance providers offer discounts for students who maintain good grades, as this demonstrates responsibility and maturity.

  2. Defensive Driving Courses: Enrolling your teenager in a defensive driving course can help them learn valuable skills to avoid accidents and may lead to insurance discounts.

  3. Choose a Safe Vehicle: Selecting a vehicle with high safety ratings and features can not only help protect your teenager in the event of an accident but may also result in lower insurance premiums.

Finding the Right Coverage with Fida Insurance Group

We understand that every family’s situation is unique, and we’re here to help you find the right auto insurance coverage for your teenage driver. We’ll work with you to understand your needs and explore options to protect your young driver without breaking the bank.

Don’t let the challenges of insuring teenage drivers overwhelm you. Contact us today to discuss your coverage options and learn how we can help you navigate the world of auto insurance for young drivers.

Beyond Death Benefits: How Life Insurance Can Help You Achieve Your Financial Goals

Regarding insurance, death benefits are usually the first thing that comes to mind. But life insurance can do much more than provide funds when a loved one passes away; it can be used as an investment and to help you fund retirement and execute estate planning. At Fida Insurance Group, serving residents of the Monroe, CT area, we’re here to help our clients understand how to use life insurance to achieve their financial goals.

Life Insurance as an Investment

Many people don’t realize that life insurance is an attractive means of investing for anyone looking for long-term returns with some potential tax advantages. Whole life insurance combines the security of permanent coverage with a cash value account that accumulates interest over time, making it a great investment option for those who want to build their wealth. The cash value can be used as collateral or even borrowed against in specific scenarios, giving you more control over your money.

Life Insurance to Fund Retirement

When it comes to retirement planning in Monroe, CT, life insurance offers an alternative way to save for the future and supplement other sources of income. For example, you could use life insurance policies to generate passive income when you retire. With whole life insurance, some companies offer dividend payments that are paid out each year, which can help ensure that your savings last longer into retirement.

Estate Planning

In addition to investing and providing funds during retirement, life insurance can also be used as a tool for estate planning. Life insurance can help ensure that your family is taken care of when you’re no longer here while also creating an inheritance and reducing the impact of taxes on your estate. 

Life insurance provides peace of mind and can help you reach your financial goals in several ways. At Fida Insurance Group, we’re here to answer all your questions and discuss how life insurance can be used as an investment vehicle or to ensure that your family is taken care of after you’re gone. Contact us today for more information.

Signs You Need Commercial Auto Insurance Instead of Regular Auto Insurance

As more and more people start working side hustles or finding ways to make extra money, the lines between needing traditional auto insurance and commercial auto insurance are becoming blurred. At Fida Insurance Group, which provides commercial insurance in the greater Monroe, CT region, we want to help you determine if you need regular or commercial auto insurance. The wrong type of insurance can lead to a claim being denied by your insurance company if an accident happens. Read on to learn about two key signs that you need commercial auto insurance. 

Do You Use Your Car to Earn Income? 

Suppose you use your car to earn extra money, such as using it for food delivery services, grocery delivery services, or ridesharing services. In that case, you need to obtain a commercial insurance policy. A regular auto insurance policy does not cover when you use your vehicle to earn money. 

Do You Use Your Car to Conduct Business?

Another sign that you may need to obtain a commercial auto insurance policy is if you are using your car to conduct business. Do you clean houses and use your vehicle to get from one job to the next? Or are you a daycare provider who uses your car to drive children in your car to school in the morning? If so, you need to have a commercial auto insurance policy. 

Having the correct type of auto or commercial auto insurance policy is vital to ensuring you are fully protected when driving. Here at Fida Insurance Group, helping residents in Monroe, CT with their commercial insurance needs, we can help you determine if you need regular or commercial auto insurance. Call us to schedule an appointment to discuss your commercial insurance needs. 

Will Home Insurance Provide Coverage for Damage From a Fallen Tree?

One of the more common risks homeowners face involves all the trees surrounding their houses. If a tree is to fall and hit your home or any other structure you have as part of your home insurance policy, do you have coverage? That is the question many Monroe, CT residents have. The Fida Insurance Group gets these questions a lot as a tree can fall due to it being hit with something, facing the high wind, lightning, hail, or even snow.

Trees Falling and Home Insurance

If a tree falls and hits your home, you want to file an insurance claim immediately. This is because, in most cases, your home insurance will cover damage done by a tree to the home.

Following a hurricane, where trees are down, branches fall, etc., insurance companies will be hit with a slew of claims. The ownership of the tree is irrelevant in most cases. What is important is what the tree strikes.

You want to do your best to maintain trees in and around your property. If the tree came from your neighbor’s yard, your insurance provider might try to collect it from their insurance company via subrogation, but that is outside of your hands.

Tree Removal Coverage

Many home insurance policies will also help you out with the cost of tree removal. There is usually a limit of around $500 to $1,000 to pay for tree removal from your policy. Read the different coverages to determine what you qualify for.

The Fida Insurance Group has seen it all in terms of trees falling and causing damage to a home. If you live in Monroe, CT, you know the weather can get wild, and trees can come crashing down when it does. Knowing what your insurance covers helps provide good peace of mind.

How to Combine Auto Policies When You Get Married

Perhaps you’ve heard that you can potentially save money by combining your automotive insurance when you get married. While it usually works out well, if you’ve watched "The Closer," you know that sometimes, a bad driving record or DUI on one spouse’s record can drive premiums up for a combined policy.

How do you know which option offers you the better deal? When you tie the knot in Monroe, CT, let Fida Insurance Group help you determine which option offers you lower premiums.

That’s all that changes when you combine policies with your new spouse – the premium cost. You still get the same great coverage.

We’ll run both scenarios for you with no strings attached. We’ll let you know if it costs you less in premiums to have separate auto policies. You opt for the option that costs you less.

How to Avoid Surprises

If you have a DUI, DWI, or many moving violations on your driving record, consider talking to your spouse about this before you try to combine insurance. There’s a list of things you should talk about before marriage, and your driving record tops the list.

Talking about it before your spouse contacts the insurance company for insurance quotes can head off arguments. Just as it happened with the characters Brenda and Fritz, when the insurance company provided a premium quote for a combined policy that cost more than Brenda’s current premium, she asked why. In the TV show, Brenda learns of her new husband’s past DUIs from the insurance agent.

Combining Policies with Two Healthy Driving Records

Maybe neither of you has a poor driving record. In that case, combining policies should net you a lower premium and consolidate your insurance premiums into a single premium on a single policy that protects both your vehicles and the drivers in the family.

Contact Us Today

Contact Fida Insurance Group to determine which option – a combined policy or two separate auto policies – better servers your marriage. Let us help you kick off your marital bliss in Monroe, CT.

Can your life insurance be canceled?

At Fida Insurance Group in Monroe, CT, we are independent insurance agents. As independent agents, we work for our customers, not for one insurance carrier. We have access to multiple carriers, allowing us to shop for our customers to find the best deals for the amount of life insurance they need. 

Nonpayment of premium

The most common reason for life insurance cancelation is the nonpayment of the premium. When times get tough, it may seem like your life insurance may be something you can live without. And yes, you can live without it, but the bigger issue is, can you die without it? If you run into financial difficulties, the first thing to do is to contact the insurance company. Depending on your policy type, they may be able to work with you. You may be able to switch to less coverage. Don’t let your policy lapse without trying to save it. 

Lying on your application

When you apply for a life insurance policy, you will be asked many questions. It is imperative that you answer them truthfully. You may think that no one can find out if you lie, but nowadays, so much information is on the internet that almost nothing is a secret. You don’t want to lose your policy because your lie is discovered or, even worse, have your dependents’ claim denied after you have passed because there is false information on the application. It just isn’t worth it. 

At Fida Insurance Group in Monroe, CT, we want to ensure that all of our customers get and keep the coverage they need. To learn more about life insurance, stop by our office or call us for information. 

Four Tips You Should Know Before Shopping for Commercial Insurance

Your business is not only a source of income but also something that gives a sense of freedom and fulfillment. As such, you need to protect it from the many risks it may be exposed to. Buying the right commercial insurance policy is the best way to protect your business. However, with several available coverage options, choosing the best for your business may be confusing. Fida Insurance Group understands the stress of selecting the right coverage for your business. We’ve, therefore, prepared tips to look out for when shopping for a perfect commercial insurance policy.

Evaluate your business risks

If you want the right policy that adequately protects your business when a disaster strikes, get to know your business risks. Each company is unique and, as such, has specific risks associated with it. For example, a tech business may require cyber liability coverage, while a contractor may need workers’ compensation.

Find out the legal requirements in your state.

Commercial insurance is not optional in most states. For example, the state of Connecticut requires that you have workers’ compensation to operate a business. Other states may require you to have commercial auto insurance or general liability insurance. Do your homework to avoid being on the wrong side of the law.

Compare different quotes

Once you know what you’re looking for, shop around and compare different insurance providers. You may find competitive rates or even get insurance providers specializing in insuring your business type.

Talk to an agent

Agents can help you choose the right coverage that suits your business. With the numerous commercial insurance coverage options, you may not know which is best for your business. An agent will work with you and tailor your coverage to your needs. Additionally, they will answer all your questions about commercial insurance.

Commercial insurance in Connecticut

A responsible business owner will always plan in case of an unfortunate occurrence. While it’s draining to think of your business’s risks, getting commercial insurance gives you peace of mind. Ready to purchase commercial insurance in Monroe, CT? Contact Fida Insurance Group for an affordable quote.

What forms of coverage come with home insurance in Monroe?

Being a property owner in the Monroe, CT area has been a good investment and housing decision for a long time. If you do decide that owning a home is a good option, you will always want to know that you have the right insurance in place for it. A home insurance plan is always a good investment as it offers various coverage forms that protect you and your property.

Protects Dwelling

A form of coverage you will get for your home in this part of Connecticut is protection for your dwelling. If you want to own any property, it would be a good idea to ensure you have support if it is damaged in an accident or you are a victim of theft or vandalism. If you obtain a home insurance plan, you will also get this type of support. This can give you peace of mind and ensure you meet insurance standards set by your lender.

Liability Coverage

All people should carefully assess their personal liability risks. If you are a property owner, there will always be a chance you could cause an accident, or someone could get hurt in your home. With a liability insurance plan, you will have protection if you are deemed liable for damages incurred by another party during the accident. 

When you live in the Monroe, CT area, it would be a good idea for you to have proper insurance for your home. There are a lot of choices to make when looking for coverage here, and the Fida Insurance Group can help with this. The Fida Insurance Group will take a personalized approach to ensure they understand your insurance needs and options and can build a proper plan. 

Are all auto insurance policies the same? Let us explain the differences to you

If you are a Monroe, CT area resident and have questions about auto insurance, you can turn to the team at Fida Insurance Group. We are dedicated to providing our clients with the information they need to select an appropriate auto policy for themselves and their families. Give us a call today!

Not all auto insurance policies are created equal.

Depending on your needs, an auto policy is probably available that is a great fit. However, not all policies provide the same benefits. When selecting a policy, an excellent first step is to identify your needs and wants. Do you need a policy just for yourself and possibly a spouse? Are there teenage drivers that will need to be covered by the policy? Knowing who will be on the policy can help you to narrow down the possibilities and choose the right one.

Next, you’ll want to consider how much coverage suits your needs. A local agent can help you with this step if you are unsure what your actual auto insurance needs are. And then, you’ll want to consider all the different available features. Safe drivers may want a policy that rewards their driving record with a declining premium feature. Folks who don’t drive very often or far will want a different policy from those who commutes daily to work. 

If you have questions, we have the answers!

Monroe, CT area residents can rely on the folks at Fida Insurance Group for all of their insurance needs. Not all auto policies provide the same benefits, so reviewing your options carefully is essential. Contact our office today and set up an appointment to learn more.

Different Types of Life Insurance. What Works Best for You?

Life’s present and future uncertainties necessitate adequate financial and physical preparations, especially for your dependents. Life insurance prevents your loved ones from having financial insecurities when you pass away. By understanding which type of insurance you need and how to get each, you’ll set a good foundation for your loved ones.  

Types of Life Insurance

Get to know the different life insurance available in Monroe, CT.

Whole Life Insurance

Whole life insurance from Fida Insurance Group covers your life through the regular premiums you’ll pay. Get a cash value benefit from the premium paid into the account, which may accrue some interest while still holding the premium. Though its premiums are slightly higher, its timeless feature makes it an excellent option for those who want a lengthier and continuous policy.

Term Life Policy

Term life policy is for a fixed term where the policy runs at a fixed rate. It suits people with a specific plan for the insurance policy’s period, like getting the policy for your employment years. You get to set the time and amount for the policy period, making it more affordable than other insurance types.

Variable Life Insurance

Variable life insurance offers you coverage as well as cash value. You invest in various accounts that determine how much interest they’ll earn. It’s a medium-risk option as you can lose your premiums, benefits, and cash value.

Factors To Consider When Choosing Your Insurance

To get the best out of a life insurance policy, consider understanding the basics of each insurance. Run the pros and cons of each policy against your goals. For example, get a term life policy if you are more interested in guarding your working years.

Contact us

At Fida Insurance Group in Monroe, CT, we take the time to understand your needs and guide you accordingly on your insurance path. Act now and protect your loved ones with a life insurance cover.