Risks To Consider When Obtaining Condo Insurance

Wise Insurance Agency serves the Ft. Wayne, IN community and surrounding areas. For over 20 years, we have assisted our clients by helping them obtain coverage. We work with multiple carriers throughout the Midwest. This allows us to offer flexible policies that adapt to our client’s evolving needs. We’re looking forward to helping you.

Risks To Consider When Obtaining Condo Insurance

The Ft. Wayne, IN community is home to several luxury condos. If you reside in one of these units, insurance adds a layer of protection. Condo insurance helps cover your possessions inside the unit if they are stolen or damaged. Consider taking inventory as soon as you move into the unit. This can help the process run smoothly if any personal items need to be replaced. Condo insurance also covers any interior damage to the unit. You’re protected if an accidental fire starts, and you damage the walls, flooring or carpet. Liability coverage protects you if you accidentally damage your neighbor’s unit. If you plan to throw a party, liability coverage protects you if a guest is injured on your property.

While looking over your policy, you have to consider multiple risks. There’s a chance inclement weather may move through the area and damage your unit. You can add alternative living coverage if this happens. Alternative living coverage protects you if you have to find another place to stay until the unit is repaired. If you have luxury items at your condo, you’ll need to amend your policy in order to cover those items if they are damaged. If the complex has a swimming pool, the owner may obtain coverage. However, it’s recommended that you look over your policy.

Wise Insurance Agency Will Help You Cover Your Assets

Visit our website to learn more information about condo insurance.

Renters Insurance Hidden Facts

Wise Insurance Agency assists the Ft. Wayne, IN community. For over 20 years, we have taken a personalized approach to offer coverage. We recognize that each of our clients has unique needs. We consult with our clients to help them obtain coverage that directly aligns with their situation. We proudly serve the community as an independent agency. We work with multiple carriers throughout the Midwest. This allows us to offer unique coverage options.

Renters Insurance Hidden Facts

The local Ft. Wayne, IN community has several unique rental properties. If you are staying in one of these properties, renters insurance will cover you. The policy covers all of your personal items if they are stolen or vandalized. Every item that you own has value, which is why insurance is important. Liability coverage protects you if you invite a guest over, and they suffer an injury. Perhaps you are throwing a party and one of your friends gets drunk and damages your neighbor’s property. Liability coverage will protect you in that situation. If your rental property suffers extensive damage, you can add temporary housing coverage, which covers you as you seek another place to stay while your rental property is repaired.

Remember that it is your responsibility to cover your personal items. Your landlord only covers the building itself. If you stay in an area prone to flooding, you will need to add extra coverage to protect you if your items are damaged due to flooding. Take inventory of your possessions as soon as you move into the rental property.

Wise Insurance Agency Will Help You Cover Your Assets

Visit our website to learn more information about renters insurance.  

Motorcycle Coverage Options

If you live in the Ft. Wayne Indiana area, you are required to have motorcycle insurance under the state laws of Indiana which applies to any motor vehicle that is driven on public roadways, streets, and highways. The motorcycle insurance agents at the Wise Insurance Agency in  Ft. Wayne, IN are explaining the different options that are available to you when it comes to motorcycle insurance coverage.

Liability Insurance

Liability insurance is the type of policy you must have to legally drive your bike on public highways in Indiana. This type of coverage will assist you in paying the bills for any injuries or property damage you occur in an accident that is your fault.

Underinsured or Uninsured Motorist Coverage

This type of coverage provides protection for you, your bike, in any passengers you have on your bike at the time did it crash occurs with a person who does not have any insurance or does not have enough insurance to cover the damages.

Comprehensive Motorcycle Insurance

This type of motorcycle insurance is a great type of coverage to have since it will help you repair or replace your bike if it is damaged due to a natural disaster, an act of vandalism, or a fire. This type of policy may be required by your lender if you borrowed the money to purchase your motorcycle since it will also replace it if it is stolen and will protect their investment as well as your own.

Collision Motorcycle Insurance

Collision insurance will help pay for repairs to your bike if you collide with another vehicle or an object of some sort.

Get the Coverage You Need

To create a motorcycle insurance policy that works for you and your situation, contact the agents at the Wise Insurance Agency in Ft. Wayne, IN today to get your policy started.

Factors That Affect Your Car Insurance Rate

When buying car insurance, there isn’t one set price for everyone. In fact, depending on many factors, you could pay more or less than someone else. 

Here are some factors that can affect your car insurance rate. 

Where you live. Insurance is more expensive in the city compared to rural areas. Cars are more likely to be broken into and stolen within the city limits. Accidents are also more common due to the traffic. 

Your driving record. Your insurance will go up if you have gotten into any accidents recently. You may also go up if you have gotten a ticket for any reason. 

Your gender. Insurance for males is often more expensive since they are more likely to be involved in car accidents. 

Your age. Certain age groups are also more expensive. Newer drivers should expect to pay more money for their insurance than their parents. 

Your marital status. Car insurance rates are lower for married couples compared to single people. 

Your vehicle. Older vehicles are cheaper than brand-new ones. Also, sports cars and luxury vehicles will cost more, because they are more expensive to replace. 

Use of the vehicle. If you drive a lot of miles, you should expect to pay more than someone who barely uses their car. 

Any prior insurance. You could also pay more if you lost your automobile insurance for some reason or another. If your insurance was canceled because you didn’t pay, you are going to have to pay more money now. 

The best way to make sure that you aren’t paying too much for your car insurance is to talk to a professional. If you are in Ft. Wayne, IN, don’t hesitate to contact us today at Wise Insurance Agency.  

Indiana Condo Insurance: Do You Need Valuable Items Coverage?

The general rule of thumb for this question is, yes, if you have valuable items, you should get valuable items coverage. That is true no matter what the situation is with your home. 

The more complex answer has to do with what coverage you already have with your condo insurance. If you only have liability insurance, then you want to consider getting additional content insurance as well.

At Wise Insurance Agency, we want all Ft. Wayne, IN residents to have the coverage they need for all of the valuables and contents that they own. 

Learn more about valuable articles coverage here.

What Your Condo Insurance Covers

Your existing condo insurance will cover basic liabilities, improvements and betterments to your unit, and some all-risk coverage for the belongings in your unit.  

For the contents and belongings, if something happens like a pipe burst, you will be able to make a claim for your property and cover the cost of the damage.

The liability component of your insurance policy will cover any problems that happen in your unit alone if you are found to be liable. If your dog bites someone or there is an accident for which you are held liable, this coverage will pay for medical costs.

If you have valuable items such as art, jewelry, antiques, collectibles, even an old camera collection, or something like that, you will need additional coverage known as valuable items coverage.

What Valuable Items Coverage Covers

When you have valuable items and want to have them covered, you need to have an itemized list and their value. The best way to do this appropriately for your insurance company is to have the lot or the set of items appraised. 

You may even already have this. Both your premium and your coverage will be based on the value listed in the appraisal. 

Take care of your items, and let your insurance company or broker know how you are doing that. They will want to know how it is being stored, and what you are doing to preserve the value. You can keep something in a safe deposit box at a bank and still have it covered under this policy.

Get a Quote

You won’t know whether or not you need valuable items insurance until you talk to an insurance broker. At Wise Insurance Agency, we can help Ft. Wayne, IN condo owners get the best valuable articles coverage for their Indiana condo insurance. Call us for a quote today.

Coverage Options for Home Insurance

Are you ready to get a comprehensive and high-quality home insurance policy? Please reach out to Wise Insurance Agency serving Ft. Wayne, IN to learn more about your options and get started on better home protection.

Factors to Consider 

When deciding on the best home insurance policy, you need to consider things like:

  • Your home and yard’s overall size 
  • The crime rate in your area 
  • Natural disasters that may occur 
  • Your intensive credit history 
  • Premium costs you can afford 

Coverage Options to Consider 

Insurance comes in a few different styles, including HO-3 and HO-5. The first type covers particular listed possessions in your home and provides personal liability protection. HO-5 covers all private property except for excluded elements. Talk to your insurance agent about which type works the best for your protection needs and your financial situation as a homeowner. 

Discuss Your Limitations 

Home insurance may not cover clothing, electronics, tools, appliances, and jewelry without special endorsements. These endorsements are also known as riders and help to make your policy more intensive and complete. A high-quality agent can help you better understand these riders and set up your policy in such a way that you can cover every element without concern. 

Know What is Not Covered 

Many home insurance policies do not cover: 

  • Issues and damage caused by loss of power 
  • Normal wear and tear issues with a home 
  • Mold growths not connected to floods 
  • Animal and pest damage 
  • Poor maintenance 
  • Government action, such as eminent domain 
  • Damage caused by war or nuclear disasters 

Get Help Today 

If you’re ready to protect your home and need an insurance policy that makes sense for your needs, reach out to Wise Insurance Agency near Ft. Wayne, IN. Our team will do what it takes to get you covered smoothly and efficiently.

Renters insurance FAQs

Renters insurance is not necessarily something that renters know much about. Only about 41% of renters have renters insurance. More importantly, 59% of renters don’t have insurance and will lose everything they own if their unit suffers catastrophic damage. At Wise Insurance Agency in Ft. Wayne, IN we want to help our customers who are renters to understand the risk they are taking and show them the options they have when choosing renters’ insurance. 

Doesn’t my landlord have insurance?

Yes, undoubtedly they do, but it protects their building, not your possessions. Even the nicest landlord in the world isn’t going to be taking care of the contents of your rental. 

What is the difference between renters insurance and home insurance?

Renters insurance and home insurance are very similar and cover many of the same things. The main difference is that home insurance includes insurance on the structure and renters insurance does not. 

Is renters insurance required?

No, renters insurance is not mandated by the state, but it is not unusual for landlords to require that tenants have renter insurance before they can sign the lease. 

What types of content insurance is available?

Renters insurance offers two types of content coverage. Actual cash value renters insurance will pay you based on the current value of an item. A five-year-old TV is worth much less today than when it was purchased. Replacement cost renters insurance will pay you what it costs to replace the item today. 

What coverage does renters insurance offer?

Renters insurance covers the contents of your rental, provides liability coverage for medical payments and personal liability, and also loss of use coverage if you can’t live in your damaged rental. 

If you are a renter who is ready to think about getting renters insurance, Wise Insurance Agency Ft. in Wayne, IN is here to answer any questions you may have. 

What Does Motorcycle Insurance Cover?

Owning a motorcycle in Ft. Wayne, IN, is not only fun but convenient as well. However, with that excitement, you are also responsible for ensuring you are protected when you hit the roads. If you are unsure which coverage is right for you, Wise Insurance Agency explains some of them and how they protect you.

Bodily Injury Liability

This type of coverage helps cover medical expenses and lost wages resulting from injuries or death of another person when you were at fault. However, note that if you get injured, this coverage will not cover your medical expenses, and you need a separate policy for that.

Property Damage Liability Coverage

If you get into an accident and damage someone else’s property where you are at fault, this type of coverage helps cover the cost of repairing or replacing the damaged items. It can be damage to someone’s car, fence, home, or any other structure.

Medical Payments Coverage

Medical payments coverage helps pay for medical bills like x-rays and ambulance rides arising from injuries to you or your passengers after an accident on your motorcycle. With this coverage, you do not have to go back into your pocket as your insurance company takes care of these expenses.

Collision Coverage

This type of coverage is particularly important when your motorcycle gets damaged in a collision with other objects like a tree, a car, a building, or another bike. Collision coverage will help cover the repair or replacement costs for your motorcycle.

Comprehensive Coverage

Any damage to your vehicle that is not a result of a collision is covered under comprehensive coverage. This includes things like theft, vandalism, wind, and flooding. If your vehicle suffers damage from those risks, this policy helps cover the resulting expenses.

Getting motorcycle insurance is crucial if you want to feel confident on the road. Residents of Ft. Wayne, IN, who are looking for coverage that will meet their needs can contact Wise Insurance Agency for assistance on choosing a policy.

Additional Boaters Insurance Coverage Features

As a boat owner, you want to spend as much time on the water and as little time worrying about your boaters insurance coverage. To help ease your worry, before going out on the water in Ft. Wayne, IN, check your insurance policy to ensure you are fully protected. You have several options available to you when purchasing your boaters insurance policy. For additional information about these options, call the agents at Wise Insurance Agency. 

Covered Value

There are two options available when determining the covered value of your vessel. The agreed value is the amount of money you and your insurance company agree is the value of your boat. Actual cash value is how much the boat is worth at the time of the loss, which factors in the vessel’s condition, depreciation, and age. 

Collision Damage

Should your watercraft be in an accident, collision damage covers the cost of replacing or repairing it – minus the deductible. 

Hull Coverage

Should the boat’s hull be damaged by covered perils, hull coverage will pay to repair it. 

Property Damage Liability

If you accidentally damage someone else’s property while in the boat, property damage covers the costs associated with the accident. 

Bodily Injury Liability

If there is a boating accident, and you are found legally responsible for it, bodily injury liability covers the costs associated with the injuries of others involved in the accident. 

Newly Acquired Watercraft

This feature provides temporary coverage for the boat, motor, and trailer that replaces your damaged boat, motor, or trailer. 

Emergency Service 

Should your boat become disabled, this provides you coverage to cover expenses such as towing the watercraft, delivery of fuel, and mechanical labor. 

These are just some additional boaters insurance features available to boat owners in Ft. Wayne, IN. To learn more about all the different features and to purchase a boaters insurance policy, give our agents at Wise Insurance Agency a call today. 

How Does Umbrella Insurance Protect Someone?

Have you ever heard of umbrella insurance? Have you ever thought about what it covers? Well, umbrella insurance is the extra liability protection that comes to your rescue when your typical coverages are exhausted. Think of umbrella insurance as a safety net that picks over from where your boat, home, or auto insurance leaves off. 

Need to learn more about how umbrella insurance protects you? Hang on as Wise Insurance Agency of Ft. Wayne, IN, helps you understand more about this insurance coverage. 

What does umbrella insurance cover?

Perhaps, because of its name, “umbrella,” many people think that umbrella insurance covers you against all perils. While umbrella insurance can save you on a rainy day, it’s liability coverage that protects you from liability claims made against you by other people. 

Here are the typical areas covered by umbrella insurance:

  • Property damage: Assume that you are involved in a severe auto accident. While your auto insurance may help cover damages caused to the other motorist’s vehicle, it can only do so much if the accident was severe involving an expensive car. Thankfully, umbrella insurance kicks in when the coverage limits of your current coverages run out.
  • Bodily injury: While home insurance may cover minor injuries to your guests, things can get thick when third parties sustain severe injuries while within your premises. For instance, if a guest falls off your balcony, medical expenses can be extensive. And since your home insurance can’t cover the entire medical costs, umbrella insurance can bail you out.
  • Personal liabilities: The beauty of umbrella insurance is that it protects you against personal liabilities like false arrest, libel, and slander that you won’t get coverage from other liability coverages.

Would you like to obtain an extra layer of liability protection in Ft. Wayne, IN and its environs? Please contact Wise Insurance Agency for a competitive umbrella insurance quote.