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Brownsburg, IN 46112

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Featured Insurance Blog

The Advantage of Having Umbrella Insurance

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Umbrella insurance provides additional liability coverage to the original policy. Its purpose is essential to protect you from all unexpected crises that may come up. The Grove Insurance Agency in Brownsburg, IN can assist in receiving the right umbrella insurance for your specific needs.

What is Umbrella Insurance?

Accidents occur every day. The results from those mishaps can be expensive. Umbrella insurance can assist with covering all medical bills and other expenses associated with the claim. The coverage will pay the remaining amount after your insurance policy has exceeded its payout limit. Often, insurers add umbrella insurance to an existing auto or home coverage policy.

Is Umbrella Insurance Necessary?

When deciding if umbrella insurance is necessary, you must take a personal inventory of your financial security. Ask yourself what assets you currently hold (car, home and investments) and if your income could pay for any potential settlements from a lawsuit. Financial hardship is incentive enough to add umbrella insurance to your current policy. The added coverage will increase the liability limit and protect you from any possible situation.

Who Needs Umbrella Insurance?

Individuals believe umbrella insurance is a meaningful addition to an existing auto or home policy. It helps to protect you from every possible situation, such as bodily injury and personal property damage. Each incident could exceed the financial limits of a current policy. Also, umbrella insurance could add further protection to an existing policy.

Rental property owners should invest in umbrella insurance. The addition will protect them against liability claims from a renter or guests to the property. The coverage offers protection from a personal injury lawsuit, as you could be held liable for all injuries and hardship from the accident on your property.

You need to review the terms of your current insurance policy before adding umbrella insurance to the coverage. If you need additional information, contact Grove Insurance Agency in Brownsburg, IN. Our staff has the experience and knowledge to fulfill your insurance needs. Call and schedule an appointment today. 

Understanding the Basic of Flood Insurance

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Water accounts for nearly 75% of the Earth’s surface. While essential to life forms, an unexpected onslaught of water can become a serious hazard/danger to property and life. Floods can be caused by heavy rainfall, storm surges, melting snow, blocked drainage systems, and more. Grove Insurance Agency is here to assist the greater Brownsburg, IN region residents.

What Is a Flood in the Context of Insurance?

Within the industry, a flood is defined as a general/temporary condition where a) two or more acres of normally dry land or b) two or more properties have been inundated by water/mudflow.

FEMA designates flood zones throughout the country based on the likelihood of flooding. Properties in Special Flood Hazard Areas are most at risk; they typically need flood insurance if the property is mortgaged by a federally regulated lender.

What is Flood Insurance?

Flood insurance refers to a unique and specialized insurance coverage that protects homeowners from losses created by a flood event.

Flood Coverage

Coverage typically includes both the structure of the home (the building and its foundation, etc.) and its contents (appliances, furniture, clothing, etc.).

Excluded Perils

Standard insurance policies for homeowners DO NOT typically cover losses caused by flooding. And property located below grade, like basements, may be excluded.

Other important flood insurance aspects include –

  • A waiting period is usually required before flood insurance coverage is effective.
  • Most flood insurance policies are offered through a FEMA-managed National Flood Insurance Program (NFIP).
  • Some private insurers offer flood insurance, although terms/coverage/conditions may differ.
  • Flood insurance costs depend on various factors, like elevation, location, coverage, etc.

Contact Us Today

It’s crucial to review the terms of your flood policy carefully. For additional information, contact our licensed professionals at Grove Insurance Agency in Brownsburg, IN today.

Four of the most important things that you need to know about life insurance

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Consumers may have a lot of questions when they buy life insurance for the first time. At Grove Insurance Agency, we can answer your questions and provide you with the information you need to choose the right life insurance solution in Brownsburg, IN.

Here are four of the most important things that consumers need to know about life insurance:

Consumers need to choose from various policy types when they buy life insurance.

Those who are buying a life insurance policy for the first time might not realize that there are so many different types of life insurance.

When you buy a policy, you need to choose whether you want a term, whole, universal, or other type of life insurance policy. 

A consumer’s state of health can impact life insurance availability.

In most situations, insurance providers require a medical exam before they sell a life insurance policy to a consumer. If you have a severe and life-threatening health problem, it might be harder to find a life insurance policy for which you are eligible. 

Consumers who have health problems might prefer to get a no-exam life insurance policy that shouldn’t have strict health requirements. 

A family’s life insurance needs can change over time. 

Once you’ve bought insurance, you should remember to review your coverage periodically in the future. Your life insurance needs might change as your dependents become financially self-sufficient down the road. 

Life insurance coverage will eventually lapse if premium payments cease.

It’s essential for you to plan ahead and make all your payments on time. If you get far beyond with life insurance premium payments, your policy will lapse, and your family will no longer be covered. 

Reach Out To Us

Before you buy life insurance in Brownsburg, IN, you should get quotes on policies from providers in your area. Call us today at Grove Insurance Agency to get a quote on a life insurance policy that will provide your family with financial protection. 

I have an old Chevette. Am I eligible for classic car insurance?

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Many of us have old cars that we still drive from time to time. However, old doesn’t always equal classic. Although the definition of a classic car can vary from one insurance company to the next, there are general guidelines that fit the definition of a classic car. The team at Grove Insurance Agency is dedicated to educating Brownsburg, IN drivers on the basics of classic car insurance.

What is classic car insurance?

Classic car insurance doesn’t have a definition that’s set in stone. In fact, insurance companies set their own definition of what’s classic. However, there are general factors that define a classic car. Typically, classic cars are 25 years old or older. However, even that number can fluctuate a little bit. Classic cars also have some sort of historical interest and may even be limited edition. As a result, not all old cars fall into the category of classic.

Classic cars are usually kept in mint condition and may be restored vehicles. Classic cars can’t be primary vehicles. In other words, these vehicles are usually not the primary car driven but the secondary car and aren’t driven daily. Classic car insurance differs from conventional insurance in that the classic car is insured for its agreed-upon value. You and the insurance company agree on the value of the car. However, classic car insurance carries similar coverage to conventional car insurance. 

I have an old Chevette. Am I eligible for classic car insurance?

Maybe. Of course, it will be up to the insurance company of your choice. However, if you’re driving your car daily, or it’s your primary vehicle, it’s unlikely that you can insure it as a classic car. Also, if your car is in poor condition, it’s also likely that your car wouldn’t be eligible for classic car insurance.

We Are Here To Help

If you have questions about classic car insurance, call us at Grove Insurance Agency in Brownsburg, IN. We’d be happy to answer your questions. 

Is it always a good idea to have renter’s insurance in Indiana?

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Renting a home can be a great option for housing. When you are in the Brownsburg, IN area, there are a lot of great places to rent a home that are located in good areas with plenty of local amenities. While you will enjoy the benefits that come with renting, you do need to get insurance and maintain it at all times. There are a lot of reasons why it is a good idea to have renter’s insurance when you are here. 

Insurance is often a Lease Requirement

One of the reasons people will want to always have a renter’s insurance plan is because it is often a lease requirement. If you choose to rent a home when you are in this part of Indiana, you will want to ensure you comply with all lease requirements. Generally, a property owner and lessor will require you to carry a certain type of renter’s insurance through the term of the loan.

Receive Protection through Coverage

Having renter’s insurance is also a good idea because you will receive the protections it provides. A quality renter’s insurance policy offers various forms of support and coverage. This includes protection for personal assets and various types of liability coverage. This can ensure you have support in some other challenging situations. 

Consult With Us

If you are going to rent a home when you are in the Brownsburg, IN area, you will want to ensure that you are carrying the right type of insurance. If you are looking for a renter’s insurance plan here, you can call our team at the Grove Insurance Agency to begin the process. Our team with the Grove Insurance Agency knows the value of this coverage and will offer the help you need to build a new plan. 

Will Motorcycle Insurance Replace a Stolen Motorcycle?

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At Grove Insurance Agency in Brownsburg, IN, we see that it’s hard to figure out how you’ll come up with funds to replace your investment if your motorcycle is stolen. Without your motorcycle in your life, you’re probably itching to get out on the open road and feel that level of freedom again. Since life without a motorcycle can feel stifling, it’s best to look into all your options.

Will Motorcycle Insurance Replace a Stolen Motorcycle?

While there are several ways to pay for a new motorcycle like financing it through a loan, getting a payment plan, or using savings to cover the costs of the new vehicle, you may want to see if your insurance offers motorcycle replacement for a stolen bike before you shell out your hard-earned cash for it. After all, payment plans can be a hassle, and motorcycles typically aren’t cheap. Even a used motorcycle could cost you a pretty penny, so it’s wise to do some digging before you put money into it. 

Although every insurance policy has terms and conditions that vary, some types of motorcycle insurance policies will cover all or part of the expenses associated with replacing your motorcycle. Typically, these policies will have limits on how much they can cover. If you don’t know if your motorcycle insurance policy covers a stolen motorcycle, you can speak with one of our insurance professionals to review the terms and limits of your specific policy. If your policy doesn’t offer coverage for a stolen motorcycle and that’s important to you, it may be time to look into increasing your level of coverage to plan for this kind of unexpected emergency.

We Are Here To Help

For more information on our motorcycle insurance policies, call us at Grove Insurance Agency in Brownsburg, IN today.

When is it beneficial to have a boat insurance plan?

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Being a boat owner can be a lot of fun for those in the Brownsburg, IN area. If you are in this part of the country, you will have access to many lakes and local waterways that can offer some enjoyment during the hot summer months of the year. When you do buy a boat, it is very important that you also get insurance for it.

There are situations when it is beneficial to have a boat insurance plan in place:

When Incurring Damage or Other Loss

One situation when you will find having a boat insurance plan beneficial is when you have incurred damage or another type of loss to your boat. If you are in an accident or have a boat vandalized or stolen, you will want to know that you have support to replace or repair it. When you have a full insurance policy on a boat, you will receive this coverage. 

When at Fault in an Accident

Even if you are very safe and experienced, accidents can happen when you operate a boat. Because of this, being prepared is very important. When you get a boat insurance plan, it will include liability coverage that will provide financial support when you are at fault and need to cover damages. 

Reach Out To Us

It is always a good idea to get boat insurance when you are in the Brownsburg, IN area. When you do get this type of insurance, it can provide many advantages that can make it a good option for you. For those that are looking to get this coverage, it would be a great idea to call our team with the Grove Insurance Agency. When you do contact us at the Grove Insurance Agency, you can obtain all the support needed to build an ideal policy. 

Does umbrella insurance replace other insurance policies?

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Umbrella insurance from Grove Insurance Agency is a type of coverage that can extend beyond the limits of your other insurance policies here in the Brownsburg, IN area. It can provide an additional layer of protection in situations where the limits of your other policies have been exceeded, such as car or home insurance. When it comes to umbrella insurance, it does not replace other insurance policies but works in conjunction with them to help provide added financial protection and peace of mind. 

When considering whether umbrella insurance is right for you, it’s important to understand how it works and what types of situations it covers.

Umbrella insurance is designed to cover costs that exceed the limits on your other liability policies, such as liability coverage for auto accidents or lawsuits arising from personal injury or property damage. For example, if you are involved in an auto accident, and your auto policy limit is exhausted due to high medical bills or damages claims by others involved, umbrella insurance can help pay those additional costs. 

Umbrella coverage also provides additional coverage for certain liabilities that may not be covered by your existing policies, such as libel and slander lawsuits. In addition, umbrella policies may offer higher limits than some underlying policies. Therefore, even if one policy has a $500k limit on liability coverage and another $250k limit on property damage liability coverage, having an umbrella policy can provide up to $1 million in extra protection for both categories combined. 

Reach Out To Us

For more information, give us at Grove Insurance Agency a call today. We are proud to serve the Brownsburg, IN area and would be happy to help you find an umbrella policy that meets both your needs and your budget.

What Does Flood Insurance Cover?

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Whether you live in an area that is prone to flooding or not, in today’s world of unexpected major weather events, it is a good idea to have a flood insurance policy in place. The agents at the Grove Insurance Agency serving the Brownsburg, IN area want you to understand what protection flood insurance can offer to you.

What Does Flood Insurance Cover?

Flood insurance is normally not covered under a regular home insurance policy, which means you have to request it to be put in place. This type of insurance can protect you against costly damage and loss of property if a flood occurs. You can obtain a flood insurance policy through the National Flood Insurance Program (NFIP) or private insurance companies.

Flood insurance normally covers any damage to your home or other buildings as well as your personal property that is caused by a flash flood, slide, mudslide, or other disaster that is similar to these. The coverage extends to the structure of the building in which you live as well as your personal belongings that are inside the building, such as your clothing, household items, appliances, furniture, and even your electronics.       

Your flood insurance policy may even cover the cost of temporary housing for you and your family, as well as living expenses if you are displaced from your home because of flood damage.

Keep in mind that flood insurance is not the same as sewer backup or some failure insurance so you will have to address that with your trusted insurance agent.

Contact Us Today

It is imperative that you get your flood insurance policy started right away by contacting an experienced and knowledgeable flood insurance agent. Call the Grove Insurance Agency serving the Brownsburg, IN area today to get your flood insurance policy started!

How to Determine How Much Life Insurance You Need

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At Grove Insurance Agency, we offer a variety of insurance options for the Brownsburg, IN area, including life insurance, commercial insurance, and auto insurance. 

Estimate Your Life Insurance Needs 

You can quickly estimate the amount of coverage you need by multiplying your yearly income by 10. You can also add $100,000 in coverage for each child that will attend college.  

Get a Clear Picture of Your Life Insurance Needs 

If you want a more accurate picture of how much life insurance you should purchase, follow these simple steps. 

Determine Your Financial Obligations 

The first step to determining how much life insurance you need is to look at your financial obligations. Start by multiplying your annual income by the number of years you want to replace the income. 10 years is a good rule of thumb, but you may need more depending on your situation. 

Add your mortgage balance and any other debts that you have, including credit card and medical debt. You should also add any future expenses, including college tuition, if applicable, and funeral costs. 

Subtract Your Assets 

Next, you’ll subtract your assets from your financial obligations. This includes savings, investments, and cash. 

Life Insurance Amount Needed

Once you’ve subtracted your assets, you’ll know how much life insurance you should have. If you currently have a policy, compare this amount to the coverage provided by your current policy. If there’s a gap, you need more life insurance coverage. 

If you don’t currently have a life insurance policy, you should get a policy that provides coverage equal to or greater than your total. 

We Are Here To Help!

If you need life insurance in Brownsburg, IN or aren’t sure if you have enough coverage, contact Grove Insurance Agency. Our knowledgeable agents will help you determine the best policy for your needs.