Is a fleet policy the right choice for your family?

Families with a lot of drivers may find it beneficial to opt for a fleet policy to protect their vehicles and drivers. If you are a family in the greater Monroe, CT area and have a number of different vehicles that are used regularly, the team at Fida Insurance Group is here to help you determine which type of policy is right for your needs. With a fleet policy, you can often enjoy higher policy limits and have a more streamlined experience when it comes to your auto insurance. There may be more options available to you then you realize, and now is a good time to take a closer look!

Is a fleet policy the right option for your family?

Whether you have a lot of family members who drive, or you just have a number of vehicles that your family uses, it might be a good idea to look into fleet insurance. There are a number of different benefits to this type of coverage, with many families most excited about the level of protection that they are able to obtain. Owning a lot of vehicles doesn’t always have to be a major headache when it comes to insurance! Now is a good time to meet with your local insurance agent to discover if this type of coverage makes sense for you and your family.

Are you in the greater Monroe, CT area and the owner of a number of vehicles that are all used by your family? The team at Fida Insurance group is here to help you determine how best to insure your vehicles. Fleet insurance is an effective and often overlooked option for auto insurance for families with a significant number of vehicles in regular use. 

How to Choose a Life Insurance Policy

Before you choose a life insurance policy in Monroe, CT, you will need to determine if you need life insurance. This can help you decide what type of policy is needed. If your salary is important to supporting your dependents then you should consider life insurance.

How Much Insurance Do You Need?

The amount of life insurance you need will depend on your personal situation and different factors, including how many dependents you have, your debts, income, and lifestyle. As a very general guideline, you should find a policy that is worth between five and 10 times your annual salary. You may also want to speak with an agent at Fida Insurance Group to determine how much you need.

Types of Policies

There are several policies that you can consider. Whole life insurance will offer both cash value and a death benefit. Premiums stay the same until you pay off the policy and the policy will stay in effect until your death if you have paid off the premiums. This type of insurance can be more expensive than other options. Variable life policies will also build up a cash reserve and you can invest this in different options. The value of the cash reserve will depend on how the investments are performing. With universal life insurance, you can vary the amount of your premium and death benefit. Choose permanent life insurance if you want to accumulate savings and want life insurance to last as long as you live.

For those who may only want life insurance while they have dependents to take care of, consider term insurance. This insurance type will be in effect for a certain number of years. There is a death benefit available but no cash value. Term life insurance can also help you if you need a large amount of insurance but have a smaller budget.

Contact Fida Insurance Group, serving Monroe, CT, to get a quote on life insurance. 

What Commercial Insurance Is Available to Your Business?

Your business in Monroe, CT needs insurance in order to protect your assets. There are a number of different insurance options available depending on your industry. If you aren’t sure what policies are best for your business, speak with an agent at Fida Insurance Group.

General Liability Insurance: This insurance will protect your business from claims of bodily injury or property damage. This policy helps cover the cost of legal fees and the settlement if you are sued.

Professional Liability Insurance: This will cover someone’s claims against a business that provides personal or professional services. Examples can be negligence or protecting you when you haven’t made a mistake.

Business Owners Policy: This is a combination of business property insurance and general liability insurance. It’s useful for small businesses that need to protect against liability claims and also want to protect business equipment.

Workers Compensation Insurance: This coverage will pay for medical care and replace partial wages for employees who are injured on the job. If an employee dies from an injury then compensation can be provided to the employee’s family. Any Connecticut business with employees will be required to have this type of insurance.

Property Insurance: Property insurance can cover physical disasters, such as theft or fire. Depending on the plan you have, it may also include furniture, technology, and items used for your business. This insurance is important for businesses that depend on having a physical location in order to make a profit.

Auto Insurance: This is useful if there are cars owned by your business. If an employee drives one of your vehicles and causes injuries or property damage then the auto insurance will pay for the costs for which you are responsible.

Contact Fida Insurance Group, serving Monroe, CT, to get a quote on commercial insurance for your business.

What winter weather events are covered by basic homeowners insurance

Winter weather is a part of life in Monroe, CT. Wind, freezing rain, snow, hail, and arctic-like temperatures are all part of living in New England. New Englanders are a hearty bunch and have learned how to deal with the extremes of weather that must be dealt with. Part of dealing with winter weather is knowing that if a catastrophic event happens to your home, you have the coverage necessary to repair or replace the things that have been damaged or lost. A visit to the office of the Fida Insurance Group can help you to be sure you have the necessary coverage. 

Covered damage

Your roof is particularly vulnerable to weather-related damage. Wet snow can be very heavy and it can cause some roofs to collapse, This includes the roof on your shed or garage. Gutters can fill with rain and then freeze which causes an ice dam that allows water to force its way under your roof and into your home. Freezing rain can coat the trees in your yard and when trees get ice covered the branches can fall, sometimes they fall onto structures like your deck, your home or your gazebo. HIgh winds can come with some winter storms and they can cause lots of damage to the exterior of your home. 

When your driveway or sidewalk gets icy, someone may fall and get injured. Your home liability insurance will protect you in this case. 

Winter storms can knock out the electricity and this can lead to frozen pipes that burst and can cause a lot of damage. While fixing the pipe might not be covered the water damage will be. 

Winter in Monroe, CT can throw a lot of hazards your way. Why not call or stop by the office of Fida Insurance Group and let then give you a no-obligation quote so that you can relax and enjoy your home no matter what the season. 

 

 

Basics of High Risk Auto Insurance Policies

Not all drivers have squeaky clean driving records. Accidents can happen and as part of the aftermath, your insurance premiums may increase. Companies offer high-risk auto insurance plans to individuals who have an increased likelihood of getting into crashes and filing claims.

High-risk auto insurance 101

High-risk auto insurance policies are plans that offer coverage to those who have a greater liability. Although one or more traffic accidents may make you a high-risk driver, other factors are considered as well. DUI convictions, moving violations, young age, and poor credit history may also be used to determine your risk to the insurance company. Very expensive and specialized vehicles can also put you in the high-risk category.

With a high-risk classification, coverage will be more expensive. However, insurance companies work with drivers to help them lower costs over time. Agents may suggest taking a defensive driving course to reduce premiums. By following all traffic laws and practicing defensive driving techniques while on the road, your record will improve over time and you will no longer be considered high-risk.

Are you really high-risk?

Insurance companies don’t automatically label you as a high-risk driver because you have been in an accident. Fida Insurance Group recommends discussing your driving record with an agent before assuming you need a high-risk policy. For instance, if you didn’t cause the accident or the crash took place more than three years ago, then you probably don’t need a high-risk policy. A single speeding ticket isn’t likely to have too much of an impact on your coverage options either. However, multiple speeding tickets will be taken into consideration.

Live in the Monroe, CT area and are looking for advice on auto insurance plans? Contact the helpful agents from Fida Insurance Group to discuss auto policy options, including high-risk plans.

Why It is Better to Get Individual Life Insurance Now through Fida Insurance Group

During implementing the Affordable Care Act, many smaller companies decided to cut insurance benefits, especially life insurance. If you have a house that works with a large corporation, you may want to put the entire family on that policy. The other option is to go through the open marketplace. The demand for life insurance has increased since 2016, but at the same time, some people find themselves at an advantage when they go to do their own life insurance shopping. 

Don’t Get Stuck at a Disadvantage with Purchasing a Life Insurance Plan

While we have seen some life insurance plans increase in premiums in Monroe, CT area, this is not across the board. The time to shop is when you are young and in good health. Life insurance can be quite affordable at that point; however, we may have situations that require us to shop around. Fida Insurance Group will provide you with the confidence to be picky about who you want to insure you, even when life insurance programs are developing stricter policies. 

The Good Thing About Finding Your Own Life Insurance Policy

The sooner that you do it, the more prepared you are. If you work for a company with less than 100 employees, there are no guarantees that your company will continue to offer this plan. Getting locked in on a life insurance policy 5 years before any health conditions occur or you begin to age is definitely the advantage that most of us focus on when thinking of this predicament. 

Fida Insurance Group will help our clients in the Monroe, CT area research plans for competitive life insurance rates outside of your employer’s group plan, which will shield you from any negative effects of rate increases as we begin to see how ACA works out for our country. 

Buying Commercial Insurance When Starting a Horse Tour Company

Horse touring companies in Monroe, CT take riders around this beautiful area and showcase beautiful equines in an exciting way. If you own one of these companies, you need to purchase high-quality commercial insurance from us at Fida Insurance Group to protect your business and your investment, especially your gorgeous horses.

Necessity of Commercial Insurance for Horse Tours

Though horse touring companies may been low-key and safe, there are some dangers that may occur in these businesses. For example, a tour may suffer from an accident or crash that impacts the health and well being of the horses and the customers. As a result, commercial insurance for horse tour companies provides high-quality coverage needed to keep these companies safe from financial loss.

Coverage Types Available

Individuals interested in commercial insurance for horse touring and riding companies have many options from which they can choose. For example, they can buy medical insurance and liability coverage for their team. This helps to protect riders from injury if they don’t ride a horse properly or get bucked off during a tour. General aggregate and property insurance is also available.

Beyond these coverage options, horse owners should also purchase mortality and theft coverage for their horses. This type of insurance is designed to kick in should a horse unexpected pass away or get stolen by somebody. In this way, a tour company can replace their horse and stay in business should one of their beloved beauties disappear.

Find Commercial Policies That You Deserve

So if you live in Monroe, CT and run a horse touring company, please don’t hesitate to contact us at Fida Insurance Group. We can help individuals like you get the high-quality commercial insurance that you need to stay solvent financially and successful with your horse tour business.

Is it Time to Upgrade your Home Insurance?

If you haven’t reviewed or updated your home insurance in a while, now is a good time to do so. You don’t want to be caught off guard in the event of a disaster. By reviewing your coverage with a Fida Insurance Group agent, you can see if adjustments need to be made in your policy to compensate for changes in your structure, contents or lifestyle. The beginning of a new year is a good time to update home insurance to ensure you’re protected throughout the coming year.

Is It Time to Upgrade Your Insurance?

If you renovated your home over the last year, you’ll need to include these renovations in your coverage. Major renovations like a new roof,  new bathroom or deluxe kitchen remodel could increase your home’s value, making your current coverage insufficient to fully protect your property. Upgrading your dwelling insurance will help compensate for this increased value. By having your home in Monroe, CT reappraised, you can get a better idea of the new value of your property so you can adjust your coverage accordingly.

In like manner, you may have received pricey gifts or made costly purchases over the holidays that need to be added to your coverage. If the limits of your contents insurance are too low to protect these goods, you’ll need to raise them or get additional insurance (an endorsement) to fully protect your valuables.

Liability coverage is yet another area to review on your policy. If you’re entertaining more or having people stay over for extended periods of time, you may need more liability coverage to protect you against accidents.

Benefits of Upgrading Insurance Coverage

Upgrading your coverage gives you greater protection against unforeseen accidents and disasters. To upgrade your home insurance policy, contact an agent from Fida Insurance Group, Monroe, CT. 

How to Get Auto Insurance For Your Teen

So your teen has finally started driving. While this will help free up some of your own time (no more driving them around everywhere they need to go!), it’s understandably a bit nervewracking while they’re out there on the road by themselves. After all, we all know just how responsible we "thought" we were back at that age. But whether they’re driving your car or have one of their own, they need to be properly insured. If you live in the Monroe, CT area, the experts at Fida Insurance Group are here to help you get your teen driver the auto coverage they need before hitting the road. 

It’s important to note that while a teen is driving supervised on a learner’s permit in Connecticut, they do not need their own insurance policy as long as the supervising driver has one. That said, they do need to have insurance once they are able to drive on their own. Most parents choose to add teens to their own auto policy for convenience purposes, although it is possible for you to get them their own individual coverage.

Now, because the accident risk is generally much higher for teens than it is for adults with some years of experience under their belts, the insurance premiums for teens are usually going to be much higher than your own. Nevertheless, you may be able to lower their premium costs by raising the deductible. And if you are getting them their own insurance policy for their own vehicle, it’s wise to avoid sports cars and flashier autos that may come with higher insurance rates anyway. 

To learn more about getting auto insurance for your teen in the Monroe, CT area, contact Fid Insurance Group today. We’re happy to sit down with both you and your teen to go over all of the options available to you and help keep your teen as safe as possible. 

You Just Retired: Do You Still Need Life Insurance?

Your corporate job in the Monroe, CT area provided a life insurance policy as part of your benefits package. Now that you have retired and the kids have their own families, do you really need a life insurance policy? There might be more than one reason why a term or whole life insurance policy from Fida Insurance Group would help you complete your retirement portfolio.

Planning for Final Expenses

Your 401K and pension are taking care of you and your spouse regarding monthly bills. Have you thought about the expense of a funeral? A life insurance policy can leave your spouse the extra cash needed to send you off in style without affecting their lifestyle or taking a chunk out of your principal investments. 

Help the Grandkids with College or a Down Payment

Maybe you want to make sure that your children or grandkids will receive a little extra cash down the road. They could surely use it to help pay for a new house or to reduce their student loan debt. It won’t affect your ability to take that extra cruise now or to take the road trip on your bucket list. It’s like making sure one last gift is left for your loved ones. 

Provide Peace of Mind for Your Spouse

Perhaps your pension is only paid to you, not your spouse. Life insurance can help replace the lost income and ensure that they will be able to live in comfort for their remaining days. 

While you may not be worried about losing your Monroe, CT area home in your retirement, life insurance from Fida Insurance Group can still offer the security of know that your family will be cared for even after you are gone. Give our helpful agents a call and ask us about all our life insurance products today.