When to Choose Term Life Insurance

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Term insurance is life insurance with a time limit placed on it, and it’s typically chosen by parents with young children. However, there are a few more things to note about this type of policy if you’re considering it. If you live in Brandon, FL, Runnels Insurance has a few tips on when to choose term life insurance over another type of policy.

How It Works

The policyholder of term life insurance will usually set up their benefits for a given length of time. For example, if they have two young children, they may set up the policy to last until the youngest child turns 21. Once this occurs, the life insurance policy will expire and there will be no benefits paid out to either child once that date has passed.

Why People Choose Term Insurance

The biggest reason why people choose term insurance over permanent insurance (which lasts forever) is that it’s more affordable. The extra cost savings are extremely attractive for the person who knows they don’t want to support their dependents indefinitely. However, permanent insurance also has an added benefit in that it can be used as a savings account if the worst comes to worse. Term life insurance does not have this same benefit, so it helps to be prepared when it comes to how your term insurance will function in your life.

Find Out More

Calling Runnels Insurance is one of the best ways for the people of Brandon, FL to find out whether or not term insurance is for them. Both types of major life insurance policies have a number of benefits, but those benefits are only helpful if everyone is on the same page about them. Whether you’re officially shopping around or just testing the waters, give us a call today!

How Much Motorcycle Insurance Do You Need?

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Florida is an interesting state when it comes to auto and motorcycle insurance. A lot of states will actually mirror their auto and motorcycle minimum requirements in many ways but Florida is different. If you own and operate a motorcycle, then you need to make sure that you have the state minimum coverage on the motorcycle in order to be compliant with the insurance laws in the state. The coverage is not the same as auto insurance so you should make sure you are purchasing motorcycle insurance. If you drive a motorcycle in Florida, these are the minimum coverages you should have according to Runnels Insurance, serving Brandon, FL. 

The minimum motorcycle insurance coverage as set forth by the insurance laws in Florida outlines three different coverage amounts and types. The first is coverage of at least $10,000 for one person for bodily injury liability. The second is at least $20,000 in coverage for two or more people for bodily injury liability. The third is at least $10,000 in coverage per crash for property damage liability. Since these are just the most basic of coverages, you may also want to take a look at some of the other types of coverages you can add to your policy in order to provide more protection to yourself and others that are on the road. 

As a motorcycle owner and operator, you need to register your vehicle with the state and then get the subsequent insurance. If you do not already have the insurance or you want to make sure that your coverage meets the state minimum requirements, be sure to contact us today at Runnels Insurance, serving Brandon, FL. We will take a look at your current policy or we will find you one that will meet the requirements and will not break the bank. 

Winter Tips For Motorcycle Owners

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Summertime is prime motorcycle-riding weather, no doubt about it. Many motorcycle owners keep their riding limited to the warmer, drier months and that’s completely fine. For some people, though, winter riding is a reality. And even if you aren’t riding all winter, it’s important that you maintain your bike and keep it in good condition during the colder months so you’re ready to go come spring.

Tips For Riding In The Winter

1. Wear Proper Winter Riding Gear

Layers are incredibly important, and so are gloves that keep your hands warm. Choose clothing that allows for movement and keeps you dry and warm. Don’t skimp, it’s about comfort and safety. Frostbite is no fun!

2.  Helmet With Fog-free Shield

Don’t take chances on visibility! 

3. Is It Time For New Tires?

Check to make sure your tires are winter-ready before it’s icy, wet and windy. Cold weather limits good traction, so always be sure your tires are in optimum shape. Avoid ice whenever possible and leave plenty of room.

4. Be Sure You Are Covered With Roadside Assistance

Motorcycle-specific towing and roadside assistance is a must, as well as adequate motorcycle insurance coverage. Accidents happen, and so do breakdowns, so don’t take any chances.

Tips For Keeping Your Bike In Good Shape During The Winter

Parking Your motorcycle for the winter? It’s important to keep it maintained so it’s ready to go when the weather clears up. Here are a few tips:

1. Change your oil. This is important because acid build-up can cause damage. Change it before you park your bike for the winter, even if you’ve done it recently.

2. Drain the carburetor.

3. Block your mufflers to keep the mice out.

4. Spray chain lube and oil other parts. Avoid rust and corrosion!

Whether you ride year-round or keep your motorcycle in the garage, it’s always important to be sure your investment is protected. If you are in the Brandon, FL or surrounding area, contact Runnels Insurance to learn more about motorcycle insurance.

 

Why it is Important to Consider Umbrella Insurance

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You may have heard of umbrella insurance in the past. It is a beneficial form of insurance, but you may not exactly know what it is or how it can protect you and your home. At Runnels Insurance, we’re here to help you and all your Brandon, FL insurance needs. 

What Does Umbrella Insurance Cover

Umbrella insurance is also known as an excess liability coverage. This means it goes above and beyond the regular coverage of your standard policy. For example, if someone is injured on your property and takes out a lawsuit against you, the umbrella insurance coverage will kick in here.  It can also help you if someone attempts to slander your name or if you are falsely arrested. 

Why Is it Important?

Umbrella insurance kicks in at different times when you need it the most. For starters, if you are found liable and need to pay additional damages than the umbrella insurance policy will cover it. It will also help cover a legal defense, regardless of the result. 

This form of insurance also just doesn’t cover your home. It is called umbrella because many different elements fall under it. Beyond your home, your car, retirement accounts, checking account and investments are all protected. This way, in the event of a lawsuit you won’t have your other investment and retirement accounts gone after. This keeps you, your retirement and your children financially secure. 

At Runnels Insurance, we want to make sure you are properly educated on all the different insurance options out there. This includes umbrella insurance. So, whether you live in Brandon, FL or the surrounding communities, give us a call and we’ll make sure you have all the insights and information to make an accurate investment into the right insurance policies. 

How to plan a safe motorcycle trip

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Runnels Insurance serving Brandon, FL  understands the motorcycle enthusiast.
 
There’s nothing better than hopping on your hog and feeling the wind against your face unless of course, it’s a vacation trip of several days that you can just ghost from your mundane life and go feel the road. 
 
But a road trip on a motorcycle takes a bit more care and planning than a car trip to make a safe and enjoyable trip.

Motorcycle checkup is a must.

Do a general checkup on your bike, it’s better to take it to a shop before you go than end up being stranded (Oil, Lights, Tires, Controls, Brake Fluids.).

Check the Weather

Leaf peeping in the North may look pretty and sound fun, but remember wet leaves on road can cause you to skid or flip. Be aware of the weather, time of year and location you plan to tour. Although you can’t choose the weather for the entire trip, try to be mindful and adapt to the bad weather.

Get a comfortable, waterproof, motorcycle riding suit.

Nothing is worse on a bike than being wet and cold. If you take a long enough trip, it’s a given you’ll end up with some bad weather than you need to endure. Not only is it miserable, it’s unsafe. When you are physically cold and wet, you lose the ability to think straight.

Attach luggage to your motorcycle.

Backpacks are great for short distances, but the long distance they wear you out. Luggage racks are a must for long trips. Create a packing list and remember “less is more”. Remember you can always buy an extra t-shirt on the road.

Contact Runnels Insurance serving Brandon, FL.

Is Flood Insurance Included in Home Insurance?

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Home insurance is something that all homeowners need to have in some capacity or other. For those that own a home, insurance is something that helps to protect your property, helps to protect your actual home, and helps to protect your guests and yourself should they become injured. For those that live in the Brandon, FL area, the agents with Runnels Insurance can help you to find the perfect policy to protect your home.

Your home policy covers a great deal, fire, damage from storms, theft, and more. It does not, however, cover flood. Since not all homes are located near bodies of water or in areas where floods are common or even possible, it is not covered in policies on average. For those that do live near water or in areas where the flood is common, you want to take out an extra flood policy that will be added to your policy and that will help to cover any damage that may occur due to flooding.

For those that do not live near water and have never had a flood, flood insurance is not something that you are going to necessarily need and therefore you can often get away with not adding it to your current home policy. Flood insurance is something that many can benefit from and if you feel that you might need flood insurance, you should speak with an agent about how much coverage you may need and what type of coverage you may need as well.

For those that live in the Brandon, FL area, the agents with Runnels Insurance can help you to find the right flood coverage and can help you find any other supplemental coverage policies that you may need to keep your home safe from any possible event.  

Putting in a New Deck for Summer? Don’t Forget to Update Your Home Insurance

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Summer’s a great time to make home renovations to accommodate the growing needs of your family. As renovations may alter your insurance coverage, it’s wise to discuss home improvement plans with a Runnels Insurance agent before upgrading your Brandon, FL home. Updating your home insurance ensures you are fully covered against damage or loss. Here are a few ways in which home renovations could alter your current insurance coverage.

Increase Home Value

Major improvements such as adding a new deck or patio can increase the value of your property. This means your current policy limits may be insufficient to cover the cost of home repairs in the event of fire, wind or storm damage. Updating your policy gives you a chance to raise property damage or liability coverage limits to coincide with your home’s new value. This way you will have the protection you need in the wake of a major disaster. By adding renovations to your policy, you also protect these investments against damage or loss.

Increase or Decrease Insurance Costs

Home improvements may result in an increase or decrease in your insurance premium, depending on the contribution they make to your property. A new roof or replacement windows, for example, will increase your home’s security, which could make you eligible for a discount on insurance costs. In contrast, adding a new deck, patio or bathroom will increase property value, which could result in an increase in your premium. By planning ahead, you can configure higher insurance premiums into your monthly budget. 

If you’re considering renovating your home this summer, contact us at Runnels Insurance, Brandon, FL, to update your policy. We can help customize a homeowner’s insurance policy conducive to your family’s individual needs. 

Should You Drop Full Coverage Once You’ve Fully Paid For Your Car?

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Most lenders require you to carry full coverage on your vehicle while you owe on your loan. Once you own your car outright though, you have the option of dropping full coverage. Should you though? Although you may save a little on premiums if your vehicle becomes damaged the repair or replacement cost without full coverage may exceed costs you can bear.

When It Becomes an Option
There comes a time in the life of every car when it makes more sense for its owner to drop down from full coverage to liability. 

  • You’ve paid it off in full.
  • The annual cost of full coverage becomes greater than 10 percent of the car’s current Blue Book value.
  • The vehicle is eight years old or older.

But Is It a Good Option?
Consider what you lose if you drop coverage down to liability only. Liability covers damage and injury to the other person’s vehicle. That’s it. You’ll lose: 

  • collision insurance that covers damage to your own vehicle due to any type of collision accident (i.e. another car or a tree).
  • comprehensive insurance that covers damage to your own vehicle from weather, fire, fallen tree limbs, etc. It also covers vehicle theft.
  • rental car in case of an accident that renders your vehicle undrivable.

If your regular driving requirements mean you are regularly subjected to dangerous driving conditions, it may serve you better to keep full coverage. Also, if you don’t have the funds on hand to replace your car or pay for expensive repairs, keeping full coverage makes sense.

Visit Runnels Insurance serving Brandon, FL to discuss your car insurance options. We’ll help you make an informed insurance decision. 

What is Whole and Term Life Insurance

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There are two main types of life insurance coverage that you can choose from when you are ready to buy life insurance. Both Whole and Term Life insurance has many benefits. Deciding what you may need can be a little confusing, but the Brandon, FL associates at Runnels Insurance would like to help you sort out the differences so that you can make an informed decision.

Whole Life Insurance

Whole life insurance is guaranteed to pay out as long as the premiums are paid. When an insurer dies, the beneficiaries will receive the death benefits. Whole life also:

  • Covers your entire life
  • Has higher premiums than term life insurance
  • Pays the cash value of the policy
  • Takes up to 15 years to accumulate cash value
  • May not have to take a medical exam

Term Life Insurance

Term life insurance allows for coverage under a fixed-rate system of payments for a specific amount of time. It is not guaranteed and after the term is up, you will need to either cancel coverage or renegotiate coverage with a new contract.

  • Will pay only if you die during the term
  • Less expensive than whole life insurance
  • Can use it as temporary life insurance
  • Must renew after the term over
  • May be able to convert it to whole life
  • Pays death benefits, but not cash value like whole life coverage

Things to Consider When Choosing Life Insurance

Whether you decide to go with term life or whole life, there are few considerations you may want to keep in mind.

  • Your age and the age of your children
  • Financial needs and budget size
  • Funeral expenses
  • Health care expenses, if any
  • Any debts, including mortgage, auto, or student loans

The knowledgeable insurance agents in Brandon, FL at Runnels Insurance are available to you navigate the process. Stop by our offices today to get started on a whole or term life insurance policy today.

How Good Credit Affects Your Auto Insurance

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Many Brandon, FL residents have come to us at Runnels Insurance confused by the ways that their insurance premiums can be affected by their credit score. The truth is, your credit score can affect your insurance rates, and having a good credit score is one of the best ways to ensure that your rates don’t end up too high.

Credit Scores Will Affect Your Insurance

While it is not a national practice in all insurance companies, up to 92 percent of all auto insurance companies use credit to assess premiums. Why? The belief here is that your credit indicates a chance of insurance losses. For example, those with bad credit may not be able to afford to maintain their vehicle, leading to an increased risk of breakdowns.

How Good Credit Helps

Improving your credits helps increase your premiums by showing a decreased risk of insurance loss. Good credit showcases that you have paid your bills on time, worked hard to avoid excessive debt, and are a reliable person. Insurance companies believe that this indicates a lower chance of suffering from a serious car accident.

Improving Your Credit

The best way to keep your credit at a suitable level is to make your payments on time. Don’t skip payments, pay everything on time, and work hard to pay off everything you owe. In this way, you can create a solid credit score that will decrease your premium.

And if your identity gets stolen and your credit is affected, don’t be afraid to talk to a credit tracking company. They can help sort through the confusion and avoid this situation causing too much damage to your credit.

At Runnels Insurance, we can help you and anyone else from Brandon, FL get the help they need to get high-quality insurance at low prices. We can help walk you through the difficult credit assessment process and give you a leg up on cheaper premiums.