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Do Retirees Need Life Insurance?

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What everyone should know about life insurance before retiring.

The day that you retire should be one of the happiest days of your life. After working for many years, you finally have the time to enjoy the simpler things in life. However, before you reach your retirement, it is important to take the time to consider if you are financially ready to enjoy a slower lifestyle.

The main advantage of life insurance is being able to provide a tax-free inheritance for your heirs. That is not the only benefit, though. Life insurance can also offer almost interest-free loans that can help to create a tax-free income that you can use when you retire. You can also use your policy to help with extended living or assisted living costs if you invest in a permanent life insurance policy.

Even if you have a nice IRA or 401k to help pay for your retirement, you may still want to consider a separate life insurance policy. Most people underestimate how much money they will need when they retire, which can lead to serious financial hardships. Life insurance gives you access to tax-free money if you ever need it. As an added bonus, there are no complicated tax rules that you have to consider when you collect the money.

As long as you keep up with the premiums of your life insurance policy, you never have to worry about the policy being canceled. While other retirement funds may be at the mercy of the ever-changing economy, you can have the peace of mind that you deserve throughout your retirement with a life insurance policy.

For help finding the perfect Conejo Valley life insurance policy, contact Cappuccino Insurance Agency in Westlake Village, California. We will work with you to ensure your policy meets all of your needs, all at the right price to fit your budget.

Are You Ready For El Nino?

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Keeping your house safe with the right flood insurance policy.

A Godzilla El Nino is expected to hit California this fall and winter, which will bring heavy rains. While this is great news in the current drought conditions, it could mean serious trouble for your house. Keeping your house and personal belongings protected with the right insurance policies can help to give you the peace of mind that you need through the storm.

While your home insurance policy will protect you from many unfortunate situations, it will not provide any coverage during a flood. You will need to invest in a specific flood insurance policy to cover your house from the damage that is done during a flood.

Typical flood insurance policies will provide coverage for the structure of your house. You also have the option to invest in coverage that will also protect your personal belongings. Keep in mind that the more coverage you invest in, the higher your premiums will be but the better protection you will have. Flood insurance policies have a 30 day waiting period before your coverage will kick in, so the sooner you invest in a policy, the sooner you can rest assured knowing that you are protected.

The cost of your flood insurance policy will depend on many factors, including how many people live in your house and the size of your home. It will also depend on where your house is located. If you live in a high-risk flood plain, you will have to pay more for your coverage than if you lived in a low to moderate risk area. Working with an independent insurance agent will make it much easier to find the right policy that will meet all of your needs at the right price.

For all of your flood insurance needs to protect your Conejo Valley house, contact Cappuccino Insurance Agency in Westlake Village, California.

3 Car Insurance Myths You Shouldn’t Believe

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Auto Insurance Misconceptions

While auto insurance is required in almost every state, there are many misconceptions that are out there about the coverage. If you get caught believing false information about your auto insurance coverage, it can lead to you investing in the wrong policy. Knowing the truth behind these common car insurance myths can help to keep you safe while on the road.

  1. Working directly with the insurance company is cheaper than working with an independent agent – auto insurance companies can only show you specific policies that they offer while independent agents are able to show you policies that are offered by all of their affiliates. Being able to choose from more policies and providers can help to make sure that you pay the right price for your coverage.
  2. You can only start looking for a policy once yours expires – no matter the length of your auto insurance term, you can cancel at any time, you will just be subject to fees. However, if you find a less expensive policy at a better price, paying the cancelation fee may be worth it in the long run.
  3. Your rates will automatically go down when you turn 25 – age is one of the most important factors when determining your premiums, but that does not mean it is the only factor. While people 25 and older are considered to be lower risk, your auto insurance company will look at other factors, such as your driving history. If you are over 25 but have a spotty driving history, your rates will not decrease until your driving record clears up.

Contact Cappuccino Insurance Agency in Westlake Village, California for all of your auto insurance coverage needs. We will work with you to make sure that you have the protection that you deserve, all at the right price.

Lowering Your Commercial Auto Insurance Rates

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Insurance Premiums For Company Cars

Finding the right commercial vehicle insurance policy that will best fit your needs can be much easier said than done. There are many factors that you need to consider when deciding on the right policy, all which can have serious impacts on how much you pay each month. Make sure to consider all of these factors to ensure that you are able to invest in the right amount of coverage for your specific needs.

  • Your drivers – the driving record of all your employees is one of the biggest factors that is used to determine what your commercial auto insurance rates will be. When hiring new drivers for your company, make sure to take a look at their driving record. The better their record is, the lower your rates will be.
  • Your fleet – your auto insurance company will want to know what type of vehicles you are looking to insure. The more expensive your vehicles are, the higher your rates will be. If you are planning on buying new vehicles to fill up your fleet, consider newer vehicles that may qualify for more discounts than older vehicles.
  • Your vehicles – each company vehicle that is included in your fleet helps to determine your rates. There are auto specific coverage options that can help to lower your price if you properly insure your cars. If you have many different types of cars in your fleet, you may want to invest in similar commercial coverage for each vehicle to keep your premiums as low as possible.

For all of your Conejo Valley business insurance needs, and to ensure that you have the right amount of coverage, contact Cappuccino Insurance Agency in Westlake Village, California. As an independent insurance agency, we will work with you to ensure that you have the coverage that you deserve, all at the right price.

What Smoking Means For Your Life Insurance Premiums

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Smokers and Life Insurance

It is not a secret that smoking is bad for your health. Due to the fact that smoking can significantly shorten your life, life insurance companies will dramatically increase your policy premiums when you are a smoker.

When determining your life insurance rates, your life insurance company will most likely require that you get a physical to determine your weight, height, blood pressure, and other health metrics. If you have a risky habit, such as smoking, you will face much higher premiums than a non-smoker. Men and women who smoke spend more than $1,000 more each year for a term life insurance policy than those who do not light up.

If you quit smoking while your insurance policy is already in place, your premiums will decrease each year that passes. However, you will need to avoid cigarettes for at least five years before you will start paying the same life insurance rates as non-smokers.

If you are an ex-smoker, there are some strategies that you should keep in mind to ensure that you are getting the right amount of protection, including:

  • Do not lie – your medical records and medical exam will reveal if you were a smoker, so your insurance company can figure out if you were lying on the application. Lying to your insurance company can be considered fraud and may lead to issues with the death benefit.
  • If you start smoking after your policy is already in place, you will not need to notify your insurance company, just like with any other medical problems that you develop after your policy is in place.

For all of your Conejo Valley life insurance needs, contact Cappuccino Insurance Agency in Westlake Village, California. We will work with you to make sure that you and your loved ones have the protection that you deserve.

How Much Are You Spending on Auto Insurance?

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Insurance Facts

According to the National Association of Insurance Commissioners, the average auto insurance expenditure increased from $798 in 2011 to $815 in 2012, and has continued to rise every year since. The average expenditure measures what drivers actually spend for their insurance coverage of each vehicle. It does not equal the sum of collision, liability, and comprehensive expenditures since not all policyholders have all three coverage options.

The amount that people spend on their auto insurance coverage is affected by how much coverage they invest in, as well as many other factors. States that have a healthy economy have more people who are likely to buy a new car. Since new car owners are much more likely to invest in physical damage coverage options with their auto insurance, these states tend to have a higher average expenditure.

The population will also have an effect on auto insurance expenditure. States that have an urban population and a higher traffic density and per capita income will have much higher car insurance premiums. Other factors that have an impact on auto insurance prices include liability coverage requirements, repair costs, and theft rates.

Although California ranks number 22 on the list of most expensive states for auto insurance, there was an increase of 1.3 percent in costs between 2011 and 2012. The average expenditure for auto insurance in 2012 was just under $750, while it was just a few cents over $740 the year before.

When looking for the right auto insurance policy that will best fit your specific needs, contact the insurance professionals at Cappuccino Insurance Agency in Westlake Village, California. As an independent insurance agency, we will work with you to make sure that you have the coverage that you deserve, all at the right price to fit your budget.

Can You Qualify for a Good Driver Discount?

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Good Driver Discount

Thanks to Proposition 103, which passed in 1988, all auto insurance providers in California are required to offer discounts to good drivers. This discount will lower your monthly auto insurance premiums by 20 percent as long as you meet specific qualifications.

In order to qualify for the discount, you must have your driver’s license for at least three years. While Proposition 103 only applies to California drivers, it does not mean that you have to have been driving in California for three years. As long as you have held a license for three years anywhere in the United States or Canada, you can qualify for the discount.

During the three years that you are a licensed driver, you must not have received more than one point on your driving record, completed traffic school for more than one traffic violation, or been found at fault for an accident. In order to be found at fault for an accident, you only have to be 51 percent responsible for the accident. If you have a DUI on your driving record, you will have to wait 10 years before you are able to qualify for the good driver discount, even if you meet all the other requirements.

When looking for the right auto insurance policy, your insurance agent is required to tell you about the good driver discount if you qualify, which means that you do not have to worry if you did not ask about it the last time you renewed your policy.

Contact the insurance experts at Cappuccino Insurance Agency in Westlake Village, California for all of your auto insurance coverage needs. As an independent insurance agency, we will work with you to ensure that you have the right amount of protection, all at the right price.