While some people may use these two types of insurances interchangeably, they are very different regarding what they cover and how much they cover. If you have a condo, then you do not need home insurance because it will not meet your needs. These are just a few ways the two differ according to Alliance Insurance Partners, serving Scottsdale, AZ.

• Home insurance covers more liability. With a home, you need to have liability coverage for the structure as well as the land and any other items that you have on that property. This is not the case with condo insurance where you only need coverage for the dwelling. If you have home insurance instead of condo insurance, you are paying too much for the excess liability insurance. 
• You may need extra insurance for anything not covered by the building. Most condominiums have insurance coverage for the communal areas, but if there are things that are not covered by them, then you will need to make sure that you have this coverage in place. Home insurance will not cover things like this on its own, which is why condo insurance is the best option. 
• You need to protect yourself from your neighbors. Another thing that home insurance likely does not cover are any damages caused by a tenant. If they cause damage to your property because of an accident, you want your condo insurance to kick in. 

Now that you understand how the two are different, you need to make sure you have the right kind of coverage in place for your condo. Contact Alliance Insurance Partners, serving Scottsdale, AZ, to get started with your condo insurance quote today.

One of the most important financial responsibilities that people share is the need to have life insurance. When looking for life insurance, those that are in the Scottsdale, AZ area may struggle with determining how much they need. Several different factors should be considered when determining the amount of life insurance to choose.

Your Income Needs

The first thing to consider when building a life insurance policy is how much of your income will your dependents need going forward. Generally speaking, if you have children or other dependents, you should have at least ten times the number of your annual living expenses in a life insurance policy.

Debt

Ideally, your life insurance policy should also have an amount of coverage that will help to pay off any debt that you have. If you have credit card debt, a mortgage, student loan debt, or any other type of debt, it would be a good idea to have life insurance left over to pay off these balances. This will help to reduce the number of expenses your family has and can give everyone a clean financial start.

Future Goals

When you are looking to get a life insurance policy, you also need to consider your future financial goals. If you are planning on paying for retirement or future education cost, you should figure out how much more money you will need to fund these goals for your dependents.

When you are looking for life insurance, a great idea would be to reach out to the Alliance Insurance Partners in Scottsdale, AZ. The Alliance Insurance Partners are an experienced insurance group that can help you better understand your insurance needs. They can also help you start the application process for life insurance and even provide you with an initial quote. We also provide life insurance to over 28 different states. Talk with one of our agents to learn more.

As a small business owner, you face risks daily that can cause setbacks to your enterprise. Knowing how to handle these risks is essential to the success of your business. Through commercial insurance coverage, you can not only protect a new business but help it expand and grow. Here are just a few of the many ways commercial insurance from Alliance Insurance Partners in Scottsdale, AZ can benefit your business.

General Liability Coverage

General liability insurance protects you against lawsuits in the event a customer suffers injury or property damage due to services or products your company provides. If a customer experiences accidental injury or property damage on your business property, liability coverage will foot the bill for expenses incurred and cover the legal expenses of a lawsuit if it should arise.

Business Property Coverage

If your property, equipment, or goods suffer damage or loss, business property coverage can help cover repair or replacement costs, protecting you from financial loss.

Business Interruption

Business interruption coverage kicks in when you have to close down your business temporarily due to a disaster that causes severe damage to your property. This coverage can help cover lost income, employee wages, rent payments, and the expenses of relocating to a new location while your old one is being repaired. This financial compensation can help you move forward.

Commercial Auto Coverage

If your business uses company vehicles for transporting products or people, commercial auto coverage can protect your drivers and business vehicles in the event of an accident. Commercial auto covers damage to your company’s vehicles and damages or injuries sustained by other drivers in accidents your employee’s cause.

These are just a few ways commercial insurance can protect your business. For more information on commercial coverage and costs, contact Alliance Insurance Partners in Scottsdale, AZ. We provide policies for over 28 states throughout the U.S.