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Fayetteville, AR 72703

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Arkansas Insurance Blog

How Home Insurance’s Liability Coverage Helps You

When many people think of a homeowner’s policy, they think of the structural protections it provides. If your home gets damaged by a peril covered in the policy, the insurance company pays for repairs. Adams Insurance & Financial wants Northwest Arkansas homeowners to also understand the liability coverage in home policies, such as HO-3 policies.

Home Insurance Liability Coverage

This blog explains its protection for accidents at the home, plus libel and slander. HO-3 policies, the typical type purchased by most homeowners, cover liability, too. Each policy provides protection equal to a percentage of the home’s value. The homeowner can adjust the percentage from its baseline, but that raises the monthly premium.

Most policies offer liability coverage at 10% or 20% of the home’s value. That means a policy that includes liability coverage with a maximum of 20% of a home’s value provides coverage of up to $100,000 for a home valued at $500,000.

How Liability Coverage Works

Liability coverage protects a homeowner in a few ways. First, if a visitor to the home has an accident, the liability coverage pays the injured person’s medical expenses. Whether the visitor falls down the steps or slips getting out of the shower, the insurance covers it. It also covers swimming pool and trampoline accidents, but owning either adds to your premium costs.

Liability coverage also offers settlement protection if the homeowner or a member of the household commits libel or slander. This protection comes in handy if anyone in the household works in a public job, such as a business owner, politician, coach, teacher, etc. Individuals in these positions frequently speak with the media and write opinion pieces, which puts them at risk of accusations of libel and slander.

Contact Us Today

Contact Adams Insurance & Financial to increase the protection on your Northwest Arkansas home. Let us help you find the right homeowner’s insurance for your home.

Handling The Financials

If you own a business that primarily handles lots of money, you are going to need financial insurance. This will provide coverage that you will need in order to protect you and your business from losses due to the event of a partner in a contract not meeting their obligations. What’s more, it can defend against a myriad of other kinds of commercial financial losses. That would include those from unexpected and/or heavy drops in the values of stocks or a business partner suddenly going bankrupt.

Who Needs Financial Insurance?

Financial insurance is largely for companies that generally cause loss of a purely financial nature. This would include attorneys and law firms, bookkeeping and accounting firms, property management firms, and real estate brokers. If an employee at one of these places makes an error that causes financial loss, financial insurance can cover financial losses caused to a third party up to the sum that was entered in the policy document. 

What is Financial Insurance Good For?

For the most part, the major purpose of liability insurance is to cover the company’s liability for any damages that have been caused to third parties. Business liability insurance is a standard form of liability insurance for any company. However, this does not cover any financial losses. Financial insurance, as the name suggests, covers completely financial losses and liabilities that are the result of a contract. It provides comprehensive insurance coverage when working in tandem with business liability insurance.

Adams Insurance & Financial Serving Northwest Arkansas

If you need financial insurance anywhere in Northwest Arkansas, please contact Adams Insurance & Financial. We will give you all the help you need. 

3 Important Life Insurance Questions to Ask Your Agent

Having life insurance can help protect your loved ones and give you peace of mind. If you’re in Northwest Arkansas and looking for help with your life policy, Adams Insurance & Financial is here for you. Having questions is common, and it’s important to get well-informed answers from a trusted agent, so you can make a knowledgeable decision.

Here are three of the biggest questions to ask:

1. How Will This Protect My Family?

Protecting your family is the main goal of an insurance policy on your life. This kind of insurance can help your loved ones keep their assets and a secure standard of living if you pass away. The goal is to determine what type of policy you need and how much coverage will be best for your situation, so you can choose the kind of protection that gives you and your family the security they deserve.

2. What Are the Different Policy Types?

There are term life and whole life policies, and they have different requirements and coverage opportunities. The right one for your needs is important. Working with an agent can help you get the best policy, allowing you to increase your family’s protection in a way that also works for you.

3. How Often Should the Policy be Reviewed?

You want to review your life policy at least every couple of years and anytime there’s a big change in your life. Performing a review with your agent will ensure that the policy is still right for you and your family.

Schedule A Consultation Today

If you’re in Northwest Arkansas and looking for a life insurance policy, get in touch with us at Adams Insurance & Financial today. We understand the importance of this kind of policy and the protection it offers for the future.

Who needs to have a full auto insurance plan in Arkansas?

Being a car owner is a great option for a lot of people in the Northwest Arkansas area. When you do have your own car here, you will enjoy having a convenient way to get around the area and complete any daily responsibilities. As you are looking for a car, you should also carefully assess your insurance needs.

A full auto insurance plan is needed by individuals in many situations. 

Those Looking to Drive

One of the reasons all people in this part of Arkansas need to have an auto insurance plan is so they can comply with state law. If you are going to drive a car anywhere in the state on a public road, you need to have liability coverage. This gives assurances that you will be able to cover damage if you cause an accident. When you get an auto insurance plan, you can stay in good standing with such requirements. 

Those with Loan Outstanding

It is also important to get a full auto insurance plan if you have a loan outstanding. When you take out a loan to buy a car, you will have insurance requirements set by the lender. These will require you to have comprehensive insurance, which will protect your car, which is the lender’s collateral. You will often need to provide evidence of coverage when closing on the loan. 

Reach Out To Us

Anyone who is going to drive a car in the Northwest Arkansas area will need to have proper insurance. When you are looking for this type of coverage here, you should call our team with Adams Insurance & Financial. There are a lot of choices to make when you are looking for insurance, and Adams Insurance & Financial can give you the support you need to build a quality plan. 

Unraveling the Mystery of Commercial Insurance for Business Owners

If you’re a Northwest Arkansas small business owner, you already know that running a business is no small feat. But how do you protect your business in the event of unexpected financial loss? 

Savvy business owners have learned that investing in commercial business insurance is one of the smartest business decisions they will ever make. Commercial insurance financially protects Arkansas-based businesses from financial peril that can include any or all of the following. 

How Commercial Insurance Can Protect Your Business

Property Damage 

Commercial business insurance can help ease some of the financial burdens. If your business loses time or money because of property damage. Property damage can cost businesses millions of dollars in revenue.

Having the right commercial insurance policy from Adams Insurance & Financial can prevent business owners from having to cover the costs of property damage as an out-of-pocket expense. 

Workers Compensation Claims

Businesses with employees can benefit from having commercial insurance policies that can protect the business against workers’ compensation claims.

If a worker or employee is injured on the job or on the premises, they can file a workers’ compensation claim to reimburse certain related costs. Commercial insurance protects Northwest  Arkansas business owners from absorbing these costs. 

Liability Insurance Claims

Many businesses have been forced out of business when faced with liability insurance claims from vendors, customers, partners, and other business associates.

Liability claims can come in the form of lawsuits or other claims that can cost businesses tons of money if they find themselves on the losing end of a liability claim. 

Protect Your Business from Liability Claims

Contact the commercial insurance experts at Adams Insurance & Financial in Northwest Arkansas when you’re ready to protect your business from liability claims, workers’ compensation claims! 

Tips to make your house more energy efficient

Making your home more energy efficient here in Northwest Arkansas doesn’t have to be a daunting task. With just a few simple tips, you can reduce your energy consumption and help the environment! Here are some simple tips from us at Adams Insurance & Financial to make your house more energy efficient. 

Energy Efficiency Tips

1. Change your light bulbs

Switching from regular light bulbs to LED or CFL bulbs is an easy and cost-effective way to reduce your energy consumption. LEDs and CFLs use up to 80% less energy than traditional bulbs, so changing them out in your home can make a big difference. 

2. Install a programmable thermostat

Programmable thermostats allow you to adjust the temperature in your home automatically, reducing the amount of time it takes for the house to heat up or cool down. This helps you save money on your utility bills as well as conserve energy by using less electricity. 

3. Increase insulation

Installing insulation in walls, floors, and ceilings will help keep the air inside your home at a comfortable temperature and prevent it from escaping outside, reducing the amount of energy needed to keep it warm or cool. Additionally, adding weatherstripping around windows and doors will also help with insulation. 

4. Use natural lighting

During daytime hours, try opening curtains or blinds in rooms that receive direct sunlight instead of relying on artificial light sources like lamps or overhead lights. Natural light is free and will result in high savings on electricity bills over time! 

Keep Your Home Insurance Updated

For more tips, give us at Adams Insurance & Financial a call today. We are proud to serve the Northwest Arkansas region and would be happy to help you find a policy to suit your needs and your budget.

What You Need To Know About Annuities

Future financial planning goes far beyond simple retirement plans with your employer. In fact, today, it is considered a wise strategy to have other retirement plans in place beyond simply what your employer might provide. Here at Adams Insurance & Financial, we want to help residents in Northwest Arkansas learn all they can about different future planning options, and this includes annuities. 

What Is An Annuity?

An annuity is a contract between you and an insurance company in which you pay into the annuity over time, and the insurance company guarantees fixed payments or a lump sum payment in the future to help with your retirement expenses. 

What’s Attractive About Annuities?

Annuities are often considered an attractive option because they do promise a fixed income stream for the future. There are several other types of investments that cannot promise this. Those who are serious about retirement want to have income streams that they can depend on in the future. An annuity is something you purchase now for a selected premium, and you can rest assured that in the future, this annuity will pay you a steady, reliable monthly income. Many people think of an annuity as a retirement paycheck. 

What Are The Downsides of Annuities?

The only real downside of this retirement option is that you do not have much flexibility for the money to work for you between now and retirement. Many other types of retirement investments do allow the money to work for you and grow even more over time. 

If you would like to learn more about annuities or other insurance products, please contact us at Adams Insurance & Financial serving Northwest Arkansas. 

Should I Wait for Illness or Old Age to Get Life Insurance?

In Northwest Arkansas, our team at Adams Insurance & Financial frequently hears questions about whether policyholders should wait until they fall ill or reach old age to get a life insurance policy. While every policy is different and every situation is different, our answer to this question tends to surprise our clients.

We usually recommend that potential life insurance policyholders don’t wait until they are getting older or sick to get a life insurance policy. For more details on why we make this recommendation, keep reading below!

Why Shouldn’t I Wait for Illness or Old Age to Get Life Insurance?

The main reason why we recommend getting life insurance sooner rather than later is that advanced age is one of the factors that drive up the cost of a life insurance policy. If you get life insurance when you are young and healthy, you’ll save money on life insurance in the long run.

Most insurance companies tend to see someone who is healthier and younger as less likely to develop a severe life-threatening health condition in the near future than someone who is older or already ill. 

Since every life insurance policy has its own specific terms, some policies and insurance companies might not differentiate. Even so, there are other reasons to get life insurance at a younger or healthier stage. On top of potentially saving money, having a life insurance policy as a younger person can give you peace of mind that your family will be cared for financially if you pass away. Since unexpected events happen every day, life insurance is a useful safety net for the unexpected.

Reach Out To Us!

To learn more about our life insurance policies, call Adams Insurance & Financial in Northwest Arkansas today!

Safety Driving Tips for Driving In Storms

Great auto insurance isn’t the only thing you need to keep you safe while out on the road. Here at Adams Insurance & Financial serving Northwest Arkansas, we want to help our clients prevent accidents as a first line of defense.

Here are some safety tips for driving in storms:

Drive Slower Than Speed Limit 

The speed limit is for ideal driving conditions only. If the driving conditions are less than ideal, you need to drive more slowly. Storms decrease your reaction speed in many ways. Your visibility will be decreased, and your tires will have less traction on the road. This can all add up to disaster if you are traveling at regular or high speeds.

Pull Over When Necessary 

Slowing down may not be enough to keep you safe in really severe storms on the road. If the weather intensifies, it might be necessary to simply pull off the road for a while. Find a safe spot to park and just wait out the storm. This is a far better option than getting in an accident. 

Keep Windshield Wipers in Good Order 

You simply cannot drive safely in a storm without good-quality windshield wipers. If your wipers are not working properly or need to be replaced, do not procrastinate. Have your wipers replaced or repaired quickly. In most states, it is also illegal to drive without working wipers. 

Keep Headlights In Good Shape

People are often tempted to drive with headlights on even though they know this is dangerous and can often get them a ticket. Driving in storms without both headlights working properly will make your situation even more dangerous.

Give Us A Call

If you would like to learn about auto insurance, get in touch with us at Adams Insurance & Financial serving Northwest Arkansas. 

What will come with a commercial insurance plan in NW Arkansas?

If you have a dream of being a small business owner, finding the right location to open the organization is very important. When you are looking for a place to open, Northwest Arkansas can be a good idea as the area has a strong population base and supports local organizations. When you are going to start a business here, getting commercial insurance is a good idea.

This coverage is needed for various reasons as it comes with different types of support:

Coverage for Assets

One type of insurance that you will get with this insurance is coverage for your assets. If you are going to start a business, there are many types of assets that will need to be acquired. This could include inventory, commercial equipment, and various other items. If you are properly covered with a commercial plan, it will provide the support you need to replace or repair these assets. 

Liability Risk Mitigation

It can also be a good idea to get a commercial insurance plan to reduce various liability  risks. Owners who are going to run a business will consistently have different liability concerns. The best way that you can offset this concern is by getting commercial coverage as it will include a variety of liability coverage options to protect you and your organization. 

Reach Out To Us

If you choose to open a business in the Northwest Arkansas area, it would be a good idea to get proper commercial insurance. As you are looking for a new insurance plan in this area, it would be a good idea to call our team at Adams Insurance & Financial. Our professionals with Adams Insurance & Financial understand the value of this insurance and will offer the help you need to get into a quality insurance plan. 

Servicing States

  • Arkansas
  • Oklahoma
  • Missouri
  • Texas
  • Tennessee
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Partner Carriers

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  • Equipment International Insurance Company
  • Foremost
  • Hagerty
  • K&K Insurance
  • MiniCo
  • Nationwide Insurance
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  • Safeco
  • State Auto
  • The Hartford