Flood insurance uses five different options for home value determination and which you choose for your policy decides how much you will get for your house in the event of a flood. This blog explains those choices and how they affect your repairs or rebuilding if a flood occurred.

Your insurance policy from Alliance Insurance Partners serving Scottsdale, AZ 

might include one of four different types of valuation for your property and home. This valuation determines the reimbursement you would get if you had to file a claim to rebuild due to loss. The common valuation models are:

• functional replacement cost,
• market value,
• replacement cost,
• actual cash value.

Policies rarely use functional replacement cost, but you can request it. You would receive the appropriate amount of money to rebuild with different, cheaper materials such as drywall instead of plaster. Your new building would resemble, but not replicate the original.

Market value also rarely gets used, but insurance companies may use it to determine the appropriate valuation method for the policy. This refers to the property estimate it would fetch at a sale. This refers to the same things as open market value, fair market value, and fair value. This could use the basis of a home appraisal.

Most policies use replacement cost as the property insurance valuation method. It comes closest to reimbursing you for what it actually costs to rebuild your home.

An actual cash value policy pays who the current value which may be much lower than you paid for the home. If the neighborhood declined while you resided it in it, the home lost value. You get the lower value.

You can purchase a warranty that insures your home for the actual cost to rebuild including any changes to local building code that would cause you to spend more money. You must request this and the premiums are higher.

Contact Alliance Insurance Partners serving Scottsdale, AZ to learn more about flood insurance and protecting your home. Let us help you keep your property safer.

Buying condo insurance is important for condo owners so that they can protect their investment in their homes. At Alliance Insurance Partners, we offer condo insurance in Scottsdale AZ.

The following are three questions you should ask when you’re in the process of purchasing a condo insurance policy

What does my master policy cover?

If you own a condo, you should get coverage from two different policies. Your entire condominium complex should have a master policy. On top of that, you should purchase your own individual condo insurance policy.

The master policy of your unit covers the building itself. However, it probably won’t cover the interior of your own unit. To purchase the right condo insurance policy, it’s important to put research into what exactly your master policy covers.

This way, you’ll know what types of coverage you need from your individual condo insurance policy. 

Should I select a cash value or replacement value coverage?

Two main types of coverage when it comes to condo insurance are cash value and replacement value coverage.

Cash value coverage generally offers less coverage than replacement value coverage. That’s because cash value coverage factors depreciation when calculating how much a claim is worth. 

What amount of coverage should I purchase?

The amount of coverage you need generally depends on how much your condo is worth. It also depends on the value of the possessions you keep within your condo. Ideally, you will have enough coverage to equal the value of your condo itself and your possessions. 

Get started finding a condo insurance solution with our help at Alliance Insurance Partners. We offer condo insurance policies as well as numerous other types of insurance in Scottsdale, AZ. 

It is always good to plan ahead. It helps you concentrate on the essential building blocks for a comfortable life for you and your family. The best way to accomplish this is by protecting your family with comprehensive life insurance coverage. That way, your family will access dependable financial security, which means they can easily sort out their medical bills, rent & mortgage, and tuition fees without feeling a pinch.

Alliance Insurance Partners Life Insurance Coverage

At Alliance Insurance Partners, we are bent on serving residents of Scottsdale, AZ, and 28 more states, with the most efficient insurance policies possible to keep you and your family stress-free.

We have a wide range of life insurance policies in our catalog so our customers have the chance to select the most efficient coverage for their needs. We also provide a wealth of information on the various insurance policies by engaging with them and answering their questions.  While they are not limited to the coverage below, our various life insurance policies include:

Whole Life Insurance

In the case of whole life insurance, the insured individual does not get to enjoy all the benefits that accrue from our policy. The policy helps the beneficiaries (family or friends) access the benefits after the death of the insured. We know how difficult it can be to file an insurance claim after a loved one passes, and that is essentially why our experts are trained to help your family through the emotional process.

Term Insurance

Term insurance policies require that the insured individual accesses the benefits after an agreed time. However, if the insured is already dead by the time the agreed term lapses, the benefits are enjoyed by a beneficiary.

If you are seeking a dependable life insurance policy in Arizona or surrounding states, pay us a visit in Scottsdale, AZ, and access the most reliable policies for your family.

Many people start their own business because they want to be their own boss and they truly believe in their product or service. This can be a thrilling endeavor. Along with that, however, comes a great deal of responsibility and in some cases even liability. In order to mitigate that liability, it is important that business owners have the proper insurance products in place. At Alliance Insurance Partners, serving Scottsdale, AZ, we take great pleasure in educating clients on these important insurance topics. Keep reading to find out more about commercial insurance. 

What Is Commercial Insurance?

Commercial insurance is a combination of different types of insurance products that are put together to address the special insurance needs of business owners. You have made a large investment of time and money into your company. In order to protect that investment, you need the right insurance products in place. 

What Does Commercial Insurance Cover?

Commercial insurance is often customized to meet the individual needs of each business. However, there are a few general areas of coverage that most business owners will benefit from. 

Property Damage- Property damage insurance for businesses is similar to that for homeowners. If your business property or equipment is damaged due to fire, natural disaster, or theft, the insurance will kick in to pay for repairs or replacement. 

Auto Coverage- Auto coverage is necessary if your business operates vehicles.

Liability- Liability coverage is essential to the long term financial health of your company. If someone is injured on your property or as a result of using your goods or services, you could be held liable for their medical expenses. If the incident results in a legal case, your company could be left financially vulnerable. 

If you would like to learn more about commercial insurance, please contact our staff today at Alliance Insurance Partners, serving Scottsdale, AZ. 

When it comes to auto insurance coverage in Scottsdale, AZ, not everyone needs the same degree of protection. It all depends on where you drive, how you drive, and what kind of vehicle you drive. Alliance Insurance Partners is here to help you consider your particular situation and to give you some tips about how to decide. 

Consider Your Daily Life 

Insurance policies may be complicated, but the underlying theories behind them are fairly simple. Do you live in an area where your car is more likely to be stolen? How many years of driving experience do you have? What are the odds of running into someone without insurance? How will you pay for repairs if your insurance can’t help?

If you feel like your car is relatively safe, you can potentially opt-out of certain types of coverage (e.g., theft, underinsured/uninsured driver protection, etc.). If you know you can quickly replace your car without much fanfare or hassle, you can consider liability only. (This coverage will only cover someone else if you’re in an accident as opposed to you and your car.)

Talk with Someone Who Knows 

If you live in Scottsdale, AZ, there may be certain things that you haven’t yet thought about when it comes to your vehicle. In certain cases, you might not have a choice. For example, if you finance, you may be required to get a certain amount of coverage. Of course, this shouldn’t prevent you from looking into additional measures if you really want to set yourself up for success. If you want to breathe easy on the road knowing you have everything you need, call Alliance Insurance Partners today to learn more about how we can help. 

Not many people think about long-term care insurance and if they did it would be much easier for themselves and on their families, eventually, everyone becomes elderly and is no longer able to care for themselves. The agents at Alliance Insurance Partners in Scottsdale, AZ have helped enough people to be able to attest to the fact everyone should have long-term care insurance.

The basic idea of long-term care insurance is to have the financial means to pay for long-term care at home or in a facility. There is a pre-selected amount of money that can be used per day, so if care is provided in the home the family can decide what hours a provider will come in and care for their loved one. If they are in a facility it is different, and the resident is charged the amount, and then they may have to pay out of pocket for the remainder if there is any.

What Long-Term Insurance Covers

Home care, nursing home care, respite care, hospice care, Alzheimer’s care, physical therapy, occupational therapy, adult daycare for people who only need someone to care for them during the day because they live with family who takes care of them the rest of the time.

You must be evaluated by a health care professional before you can begin to use your long-term care benefits. You must meet certain criteria before the ‘trigger’ sets in which means you have to wait 30 days before you begin receiving the benefits of the insurance. It’s very important to make sure you have the correct things in your policy so when the time comes you have everything you need.

If you think long-term insurance coverage would be ideal for yourself or your parents then call Alliance Insurance Partners in Scottsdale, AZ to set up an appointment.

Having the right personal insurance coverage is very important for anyone that is in the Scottsdale, AZ area. One form of insurance that can help to protect anyone is disability insurance. Having disability insurance can benefit and protect someone in a number of different ways. 

Replaces Income When you Can’t Work

One of the advantages and benefits that come with disability insurance is that it can provide you with income. A large concern that anyone can have when they have a disability is if they are suddenly no longer able to work. If this occurs, your entire income stream could be lost. Due to this risk, getting disability insurance is a great addition to any personal insurance plan. When you do have this insurance, it will provide you with coverage that will replace your income lost due to disability. 

Increases in Benefit

Another advantage of disability insurance is that the benefit will increase with time. While you may receive a certain level of income today, the annual expenses that you have are bound to increase with time. Due to this, you need to have an income that also increases to offset the rise in expenses. Fortunately, your disability insurance policy can provide you with annual raises in benefit based on current inflation rates. 

There are clearly many situations when having disability insurance could be advantageous. For those that are in the Scottsdale, AZ area, choosing a good policy is an important decision. The team at Alliance Insurance Partners can help you to determine your insurance needs and get you into a policy that gives you the right type and level of coverage. Alliance Insurance Partners can help to ensure that you get into a great policy, which will give you peace of mind. 

The agents of Alliance Insurance Partners offer a variety of insurance policies that involve health and medical care. Long term care insurance is beneficial for many reasons. Having it included in your insurance portfolio offers you financial security in the event that you are in need of extensive long term care. Residents who live in Scottsdale, AZ can rely on their agents to get all of their health insurance questions answered.

Financial Safety Net

Medical costs can be catastrophic especially if they involve round the clock, long term care. With long term care insurance, your family’s finances will not be affected as much as if you had to pay for all of your medical expenses out of pocket. Long term care insurance provides you with a financial safety net that will protect your family from being overwhelmed.

Peace of Mind

With long term care insurance, you have the peace of mind you need knowing that you will be able to get the type of medical care you need during your recovery. Many families do not have the medical knowledge or time to provide constant, long term care after a loved one has experienced a health event that requires extensive medical care. This type of insurance guarantees you will be able to get the care you need for as long as you need it.

If you live in Scottsdale, AZ and are interested in obtaining long term care insurance, call the agents of Alliance Insurance Partners today. They have the answers you are looking for and can customize your policy to meet your needs. Contact them today and schedule an insurance review!