Author: agentinsure

Insuring a Brand New Car? 3 Factors to Consider

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If you’re buying a brand-new car, you’ll need to shop for insurance. Auto insurance is a requirement for driving a vehicle, and if you don’t have any, you’ll need to purchase a policy before you drive a car off the lot. Even if you already have insurance, upgrading your insurance to get more comprehensive coverage might be beneficial.

The insurance agents at The Owens Agency LLC, servicing Waldron, AR, can assist you. We provide auto insurance for the people of Waldron and can help you find the right policy for your needs. Below are three things to consider when deciding what type of insurance to get for your new car.

1. Your Auto Lender Will Require Comprehensive Coverage

If you’re borrowing money to pay for your brand-new car, your auto lender will require you to have comprehensive coverage. Even if you’re paying for your vehicle in cash and don’t have a lender, you may still want to get comprehensive coverage. Comprehensive coverage offers the highest level of financial protection against covered events for a valuable vehicle like a brand-new car.

2. Find an Independent Insurance Agent

Get an insurance policy with an independent insurance agent. Your agent can produce quotes from multiple insurance carriers to help you find a policy that fits your budget and needs. The agents at The Owens Agency LLC, servicing Waldron, AR, work with multiple carriers and can help you get the best policy for your new vehicle.

3. Shop Around Before Going to Buy Your Car

If you’re buying a car for the first time, you’ll need to get an insurance policy before driving off the lot. Shopping around before buying your car makes it easier to find the best policy. Call today to learn more.

What insurance do I need for my new trucking company?

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Starting a new company is always challenging; trucking is among the more complex businesses. As far as insurance goes, new trucking companies need core policies covering the issues faced by companies in any industry. Plus, some insurance needs are specific to the trucking industry and its risks, including some legally required of interstate motor carriers. If you have questions about your business’s recommended or required insurance, talk to our Owens Agency LLC team serving Waldron, AR.

Core Commercial Insurance

A new business operating in almost any industry should consider a core set of policies that include:

  • General liability insurance covering injuries and damages to third parties
  • Commercial property insurance covers physical property, goods, gear, inventory, business interruption, and other elements. (You may combine general liability and commercial property in a BOP or Business Owners Policy.)
  • Workers’ Compensation
  • Commercial auto insurance
  • Cyber Insurance
  • Other coverage, such as Inland Marine Insurance

Commercial Trucking Insurance

New trucking company owners also need coverage specific to the trucking business:

  • Primary liability: injuries or property damage caused by your truck(s)
  • Physical damage: damage to your vehicles
  • Motor truck cargo: Losses to cargo from theft or disasters
  • Reefer breakdown: Losses due to refrigerated trailer failure
  • Bobtail insurance: cover the truck operating without a trailer
  • Under and uninsured motorist coverage

Insurance companies bundle these elements differently, and your needs will vary with the products you carry and where you take them, so it’s best to talk with a knowledgeable agent.

Working with The Owens Agency LLC

The Owens Agency LLC team proudly serves Waldron, AR. Let us apply our commercial insurance experience to structure a commercial trucking insurance plan to protect your business. Call us at (479) 637-2207 to discuss your insurance needs and options.

Choosing Between a Carport or Garage for Your Home

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One of the best additions you can make to your home is a carport or garage. They will protect your vehicles and give you additional storage space. If you know you want to add one but aren’t sure which, use these differences to help you make a decision. 

1. Enclosed or Not

One of the biggest differences between a carport and a garage is the walls and doors. A carport is usually just a shelter attached to the house, or it can be freestanding, and you park your car beneath it. Some carports have a built-in room, but it’s open, and you can’t close it like a garage. A garage will have all sides enclosed with a door. 

2. Cost

Another significant difference between the two is the cost. Because the carport is smaller and doesn’t have walls on all sides, it is usually cheaper to build. A garage will be a more expensive project, but if you want a fully secure area, you’ll want to go with the garage. It’s important to note that a carport can be built much quicker and has fewer code regulations than a garage. 

3. Storage

If you’re looking for a place to store just your car and nothing else, you only need a carport. However, with a garage, you can take advantage of the walls in the space and use it for storage for your things that belong outside and recreational items that aren’t usually kept in the house. Garages can also be a part of your security system, whereas a carport can only be managed by a camera. 

If you’re in the Waldron, AR, area and looking for a new home insurance policy, contact us at The Owens Agency LLC today for more information on a personal quote. 

Does Auto Insurance Cover Fender-Benders?

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Many drivers in Waldron, AR will inevitably experience a fender-bender if they drive long enough. It’s important to ensure your auto insurance provides coverage for fender-benders. Fortunately, many policies do.

Collision Coverage

Whether your auto insurance covers fender-benders predominantly depends on whether you have collision coverage. Collision coverage helps pay for repairs to your vehicle in case of an accident, including minor accidents like a fender-bender. This coverage is typically applicable irrespective of who is at fault.

Insurance Claim

However, having collision coverage doesn’t always mean you should file a claim after a fender-bender. Deciding to file a claim depends on multiple factors.

The most important factor is the cost of damage relative to your deductible. If the repair cost is equal to or less than your deductible, paying out-of-pocket might be more cost-effective than filing a claim. A deductible is what you pay out-of-pocket.

Remember, filing a claim may lead to heightened premiums in the future. Consider whether the potential increase exceeds the difference between your damage and deductible. You may want to cover repairs yourself. Conversely, filing a claim may be more worthwhile if the insurance payout surpasses a possible premium increase.

Get Help With Auto Insurance

At The Owens Agency LLC, we’ve assisted many Waldron, AR drivers in making this decision. If you choose to buy a policy from us, we will gladly help you.

To select a policy that includes collision coverage, contact one of our agents at The Owens Agency LLC. We’ll ensure you get the right auto insurance.

Insurance Requirements For Box Truck Owners

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Many businesses and independent contractors in Waldron, AR, use box trucks in various ways. They’re useful for transporting goods to warehouses, stores, or customers. Like any vehicle, a box truck needs the right insurance coverage to satisfy legal requirements in Arkansas. Standard auto insurance usually isn’t adequate for this purpose.

What’s Required?

State law requires box truck operators to carry liability insurance. It generally covers damage and injuries others suffer in an at-fault accident. However, this basic type of policy doesn’t insure the property of the box truck owner. Additional coverage is needed if you want to protect your cargo or the truck itself.

Possible Requirements

Depending on the circumstances, you may be required to carry more than just a basic liability policy. You’ll probably need comprehensive and collision insurance if you lease your box truck or use a loan to purchase it. Refer to the lease or loan documents for more information about these requirements.

The federal government may require additional coverage if you transport cargo to/from another state or carry hazardous materials to any destination. Depending on where you travel and the types of items that you transport in a box truck, you might need extra liability protection and/or cargo insurance to satisfy the federal requirements.

The experienced insurance professionals at The Owens Agency LLC can help you find trucking insurance that complies with these laws and sufficiently protects your commercial vehicle. We make it easy to compare coverage options from multiple major insurers. The Owens Agency LLC staff members benefit from more than five decades of relevant experience. Please call 479-637-2207 to reach our office in Waldron, AR.

Insurance Adjustments for Your Finished Basement

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Deciding to have your basement finished may require purchasing more home insurance coverage. Review some adjustments that will protect your basement and its personal property. 

Liability Protection

If the basement project is going to take a while to complete, there is a risk of damage or injury occurring while the project is underway. Liability protection will cover you against mishaps that take place on your property.

For instance, if someone falls and gets injured, the liability protection will cover costs associated with the injury. If you are hiring a contractor to finish your basement, make sure that they have adequate insurance coverage before the project begins.

Personal Property

Finishing your basement will likely mean that you will be moving quite a bit of personal property into the modified living space. For this reason, you may want to insure the items that will be stored in the basement. Personal property protection will cover items that could potentially be damaged or stolen. 

Structural Components

It is wise to keep track of the structural materials you will acquire for the basement renovation. If the materials are susceptible to weather damage, they should be equipped with adequate insurance protection.

Keeping a list of each item you buy for the basement upgrade will help you determine the coverage needed for all the new materials. 

Additional Information About Insurance Products

At The Owens Agency LLC, our agents offer many home insurance products. Consult with one of our agents who serves the Waldron, AR, region. They will recommend upgraded insurance products that protect your basement during and after the renovation project.

Four Outside Factors Impacting Your Car Insurance Rates

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Why Your Auto Insurance Costs Might be Increasing

At The Owens Agency LLC in Waldron, AR, we always prioritize our clients’ needs, providing them with superior service and high-quality products. We understand that increasing auto insurance premiums can be a cause for concern. You can make more sense of these changes by distinguishing the factors in your control from the ones you can’t control. Let’s tackle four such uncontrollable factors:

Four Uncontrollable Factors That Increase Your Premiums

  • Inflation: We’re all familiar with the frustrations inflation can bring, and unfortunately, auto insurance rates are not immune to its impact. Insurance premiums tend to follow suit as prices for goods and services rise across the board.
  • Increasing Repair Costs: Modern cars come packed with advanced technology, making them more expensive to repair. What once was a simple sheet metal replacement in a fender could now involve replacing cameras, sensors, radar, and GPS equipment, all contributing to higher repair costs.
  • Insurance Fraud: Fraudulent claims have long been a drain on the insurance industry, driving up costs for all policyholders. Whether these claims are entirely false or simply exaggerated, they tend to have ripple effects on premiums.
  • Pricey New Vehicles: With the average price of new vehicles exceeding $40,000 and consumers opting for high-end models like SUVs and luxury trucks, insurance costs have seen a proportional increase. This trend makes it crucial to get an insurance quote before deciding on a new vehicle.

Be Proactive and Get a Quote

At The Owens Agency LLC, we empathize with our clients and share their challenges, including rising auto insurance costs. If you’re a driver in the Waldron, AR, area concerned about your premiums, we encourage you to reach out to us for a no-obligation quote. We’re here to help you navigate these challenges and find the best possible solution.

How Does Trucking Insurance Work from The Owens Agency LLC

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Maximizing Efficiency with Reliable Trucking Insurance

Considered the backbone of the American economy, the trucking industry plays a crucial role in ensuring the efficient transportation of goods across long distances. However, such a robust industry also brings great responsibility in terms of protecting drivers and businesses from potential on-road risks. At the Owens Agency LLC in Waldron, AR, we offer a diverse range of coverage options and can explain trucking insurance requirements.

The Mechanics of Trucking Insurance

Trucking insurance has foundational components similar to auto insurance. It typically includes liability coverage, physical damage coverage, cargo protection, and more. Liability coverage defends trucking companies from the financial implications of accidents that result in property damage or bodily injury to others. Physical damage coverage offers protection for the truck itself in cases of collisions or other incidents, while cargo protection covers the transported goods in cases of damage during transit.

Customized Coverages

In addition to these basic coverages, trucking insurance may offer unique options such as non-trucking liability (bobtail insurance), motortruck cargo insurance, and driver occupational accident coverage. These specialized solutions address trucking businesses’ specific risks, ensuring thorough protection.

At the Owens Agency LLC, we forge close relationships with our clients to comprehend their distinctive requirements and recommend the right blend of coverage. Our experienced agents are committed to assisting trucking companies in navigating the intricacies of insurance, providing optimal protection against potential threats.

Your Trusted Partner for Trucking Insurance Coverage

Owens Agency LLC is your go-to agency for trucking insurance in Waldron, AR. Our customer-friendly team can answer any queries about initiating a new policy. Contact us today to learn more about trucking insurance and kick-start your new policy.

Does Homeowner Insurance Cover My Expensive Jewelry?

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Understanding the Intricacies of Jewelry Coverage under Homeowners Insurance

If you have valuable jewelry at home, it’s natural to question whether your homeowner’s insurance covers it. At The Owens Agency LLC, serving Waldron, AR, we’re happy to answer your queries regarding coverage under your homeowner’s insurance. Here’s what you need to know.

Homeowners Insurance and Your Jewelry

Most homeowners insurance policies cover jewelry, but there’s usually a limit to the amount they’ll pay for it. If you own an expensive item of jewelry or several high-priced pieces, your regular homeowner’s insurance policy may not provide enough coverage for these items in case of a loss.

How to Maximize Your Coverage

If you own expensive pieces that need to be insured, you have several options:

  • Increase the coverage of your homeowner’s insurance policy: Speak with your insurance agent to see if you can add additional coverage specifically for your jewelry.
  • Get a personal articles floater: This is a separate policy that provides additional coverage for high-value items such as jewelry.
  • Get jewelry insurance: This is a specialized insurance providing coverage specifically for jewelry. If you have several expensive pieces, jewelry insurance may be the best way to safeguard them.

At The Owens Agency LLC, serving Waldron, AR, we’re happy to guide you on how your homeowner’s insurance policy protects your valuable items. Reach out today for more information.

Does auto insurance cover the car or the driver in Waldron, AR?

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Every Arkansas driver must carry at least two different kinds of auto insurance: property damage liability and personal injury liability. If a driver is responsible for causing an accident, insurance will pay for the damages and injuries.

Whether your insurance will cover those you lend your vehicle to can be confusing. Does auto insurance in Arkansas follow the driver or the car? The Owens Agency LLC can answer all your auto insurance questions and help make sure you are protected in the event of an accident.

Insurance Usually Covers the Car In Arkansas

That means that as long as the vehicle is insured, the driver probably will be, too. If you have insurance on your vehicle and lend it to your friend, your friend will have coverage in case of an accident. If your insurance doesn’t cover all the damages, your friend’s insurance may be able to pay the difference.

There Are Still Risks

You may be on the hook if there is not enough coverage to pay for the accident. If you do not have collision and comprehensive coverage, you may need to pay for your vehicle’s damages.

Contact Us For More Information

You need to be able to prove that you have insurance coverage if you are ever involved in an accident, even if you were not at fault. Failure to provide proof of financial responsibility can result in fines, license suspension, registration suspension, and jail time. 

The Owens Agency LLC can help you ensure you have the coverage you need for yourself and anyone who borrows your vehicle. If you live in Waldron, AR, please feel free to contact us today.