Need an Umbrella Insurance Policy Update? Your Agent Can Help

Posted on December 23, 2024December 16, 2024 by admin

Keeping Your Umbrella Insurance Policy Updated in Rio Rancho, NM

If you’re in the Rio Rancho, NM area and have an umbrella insurance policy, it may be time to update it. That’s where Franklin Insurance Agency comes in. Contacting us is the right step to get your policy reviewed and updated so you can be prepared for whatever life throws your way. With the right coverage, you have less to worry about, allowing you to enjoy more of what life offers now and in the future.

The Importance of Working With Your Agent

Whether you’ve had umbrella coverage for a long time or just got your policy recently, working with an agent is crucial when making updates. You don’t want to jeopardize your future by not having insurance coverage. When you work with one of our insurance professionals, you reduce the risk of any mistakes or misunderstandings.

Regular Policy Updates Are Essential

It’s a good idea to talk with one of our agents for an umbrella policy review at least once every year. At that time, you can decide if you need any updates or whether you want to keep your coverage the same for the immediate future. Another good time for a review is at any significant life change; an agent can assist with that as well.

Contact Us for Policy Updates Today

Contact us today at Franklin Insurance Agency if you live in the Rio Rancho, NM, area and need to update your umbrella insurance policy. Our trusted agents can answer all your questions and help you make necessary updates so you can be confident in the type and level of insurance protection you have. Peace of mind matters; we’re here to help you find it.

What Add-on Options Are Available for Motorcycle Insurance?

Posted on November 18, 2024November 15, 2024 by admin

New Mexico offers beautiful scenery and wide open spaces to enjoy your motorcycle. However, it’s crucial to have adequate insurance coverage for your bike, just as you would for a car or any other vehicle. To make sure you’re adequately covered, you may want to consider add-on insurance.

What is Add-on Insurance?

Add-on insurance can cover expenses that a standard policy doesn’t. It is typically added to an existing policy for an additional cost. This type of insurance is also sometimes called a rider or an endorsement.

What Add-ons Are Available for Motorcycle Coverage?

There are several types of potential add-ons. The following are a few options:

Accessory Coverage: This would help cover replacing or repairing customized parts such as special seats, a custom paint job, or electronics.
Rental Reimbursement Coverage: This type of add-on insurance helps cover the cost of renting a motorcycle or other vehicle if your bike is damaged or stolen.
Comprehensive Coverage: A comprehensive add-on could cover non-accident events such as a motorcycle being damaged by vandalism or a natural disaster.
Roadside Assistance: Even if you have a great motorcycle, breakdowns can happen. A dead battery and tire punctures can happen to anyone. Adding roadside assistance add-on coverage means you’ll have assistance whenever needed.
Medical Payment Coverage: This insurance can assist with medical payments if you’re injured in a motorcycle accident.

Why Choose Franklin Insurance Agency in Rio Rancho, NM?

At the Franklin Insurance Agency, we can provide you with several types of insurance coverage, including add-ons. We can assist you when selecting the right add-on insurance for your motorcycle. Contact an agent serving the Franklin Insurance Agency in Rio Rancho, NM, today.

Are You Covered for Towing a Trailer?

Posted on October 21, 2024October 15, 2024 by admin

Franklin Insurance Agency sells towing insurance to drivers in Rio Rancho and all of New Mexico. But do you need a separate policy for towing a trailer?

Suppose you are using your non-business car or truck to tow a non-business utility trailer, which is a trailer with raised sides, an open top, and a back gate. In that case, your auto policy gives you liability coverage on your trailer itself. However, you will need separate collision and comprehensive coverage to ensure the value of the trailer.

(Just a quick review. Collision covers damage to your trailer caused by collisions with another object, such as another car, a guardrail, or your car, should your trailer jack-knife against it. Comprehensive covers theft, fire, storm damage, and other listed causes of damage.)

The same principle applies if you are using a non-motorized pop-up or fifth-wheel trailer. Your auto policy covers your trailer for liability but not for collision or comprehensive. You will need separate coverage for the value of the trailer itself.

If you are using a self-propelled, motorized trailer, you need its own policy. Your auto policy generally covers liability, but another policy (ask your agent if your homeowner’s policy covers it) is necessary for collision and comprehensive.

This means that if you tow your car behind your RV, the liability coverage on your RV covers your vehicle, provided it is in neutral, and the motor is turned off. Any "help" by operating the engine of a vehicle you are towing invalidates liability coverage, and any damage to a vehicle you are towing is only covered by its own comprehensive and collision coverage.

Franklin Insurance Agency provides coverage for Rio Rancho, NM, and the state. Call us today for the policy you need!

Three Reasons Why Your Small Business Needs Commercial Insurance

Posted on September 30, 2024September 23, 2024 by admin

Advantages of Commercial Insurance for Small Business

If you are contemplating starting a small business in the Rio Rancho, NM, area, commercial insurance can offer several perks.

Cybersecurity and Attacks

Many small businesses have broadened their reach with an online presence, exposing them to the risk of cyber attacks without proper cybersecurity defenses. Commercial insurance can include a cybersecurity component, providing essential protection. This coverage is highly recommended for any small business operating online.

Liability Protection

As a small business, claims related to the misuse of your company by employees, customers, and other patrons pose an inevitable risk. For instance, you could be held accountable for defamation by an employee against a competitor or be accused of negligence by your team. As a business owner, financial liability for these issues falls squarely on your shoulders unless you have commercial insurance to file a claim.

Property Damage

Be it a leased space or your own property, you are accountable for any damage caused by your enterprise. Even if you’re not at fault, making necessary repairs to continue business operations is your responsibility. Without commercial insurance, you’ll need to tap into your personal funds for these repairs, possibly forcing you to halt business operations or reconsider your business model.

Contact Franklin Insurance Agency in Rio Rancho, NM

As a business owner, understanding the financial flexibility and security that commercial insurance can provide is critical, particularly for small businesses. Dealing with unexpected situations without insurance could inflict severe financial damage on a fledgling business. For more information on commercial insurance in the Rio Rancho, NM area, contact our Franklin Insurance Agency team today for a personalized quote.

Inclusions That Your Home Insurance Policy Offers

Posted on August 30, 2024August 19, 2024 by admin

Insurance inclusions specify the circumstances in which your home insurance policy would pay out. It’s vital to review your home insurance policy to understand what inclusions it comprises.

Dwelling Coverage

A typical home insurance policy provides coverage for the dwelling you inhabit. It offers protection for the structural materials your home is made of, such as walls, floors, and insulation.

Possession Coverage

Possession coverage safeguards the household goods, furnishings, clothing, and other items inside your home. You can select the items you want to insure when you acquire your home insurance policy. Any valuable items or those that would be challenging to replace should be added to your home insurance policy.

Additional Buildings

A home insurance policy may also cover other structures on your property. If you have a garage, a shed, or another freestanding structure, obtaining an inclusion that will cover it might be beneficial. This coverage will safeguard against theft and damage.

Additional Living Expenses

If your home becomes uninhabitable in the future, additional living expenses coverage will reimburse you for the extra out-of-pocket costs. This type of inclusion can be utilized to cover the costs of a hotel, food, and any other expenses you incur while your home is uninhabitable.

Insurance Agent Guidance

Feel free to contact our representatives at Franklin Insurance Agency if you want to learn more about insurance inclusions. If you’re unsure about the type of coverage your home insurance policy offers, our agents serving Rio Rancho, NM, can assist you.

They will also recommend insurance coverage that will augment your home insurance policy’s level of protection.

Inclusions That Your Home Insurance Policy Offers

Posted on August 30, 2024August 19, 2024 by admin

Insurance inclusions specify the circumstances in which your home insurance policy would pay out. It’s vital to review your home insurance policy to understand what inclusions it comprises.

Dwelling Coverage

A typical home insurance policy provides coverage for the dwelling you inhabit. It offers protection for the structural materials your home is made of, such as walls, floors, and insulation.

Possession Coverage

Additional Buildings

Additional Living Expenses

Insurance Agent Guidance

They will also recommend insurance coverage that will augment your home insurance policy’s level of protection.

Is Seasonal Boat Insurance in Rio Rancho, New Mexico, Right for Me?

Posted on July 30, 2024July 19, 2024 by admin

If you’re a boat owner in the Rio Rancho, NM region, you may be considering comprehensive or seasonal boat insurance. Determining if seasonal boat insurance is right for you depends greatly on numerous lifestyle factors, the number of boats you own, and how frequently they are used on the water. Working with a specialized insurance agent from Franklin Insurance Agency can help you determine if seasonal boating insurance is ideal for you and your watercraft.

Usage

If you’re considering seasonal boat insurance, consider how frequently you use your boats or watercraft. A comprehensive plan may also allow you to customize coverage periods based on the number of boats or watercraft you plan to insure.

Storage During Off-Seasons

Even if you do not plan to use your boats or watercraft during the off-season of the year, you may want to consider seasonal insurance plans that still protect your investments even when they are not on the water. Protecting your boats and watercraft while in storage is much easier with a custom-tailored seasonal boat insurance policy.

Potential Risks

Even if you only boat during specific seasons, proper insurance can protect you from vandalism, theft, and property damage. The right coverage policy will also protect against natural disasters, storms, and accidents while you’re out on the water.

Legal Requirements

In some areas throughout New Mexico, boating insurance may be required by law. Depending on where you intend to use your boats and watercraft, seasonal boating insurance may be necessary to prevent fees and fines.

If you’re curious about seasonal boat insurance and live in the Rio Rancho, NM area, contact Franklin Insurance Agency today. Our agents will work with you to determine if seasonal boat insurance is right for you based on the type of boats and watercraft you currently own or intend to invest in.

How to Stay Safe When Driving With the Sun In Your Face

Posted on June 28, 2024June 20, 2024 by admin

Driving into the sun can be challenging and dangerous. The glare can reduce visibility and increase the risk of accidents. At Franklin Insurance Agency, serving Rio Rancho, NM, we care about your safety on the road. Here are some tips to help you stay safe when driving with the sun in your face.

Use Your Sun Visors

Sun visors are your first line of defense against sun glare. Adjust them to block the sun’s rays without obstructing your view of the road. Some cars also have extendable visors or side visors to provide additional protection.

Wear Polarized Sunglasses

Polarized sunglasses can significantly reduce glare and make it easier to see. Keep a pair in your car at all times. They protect your eyes and enhance visibility, making your drive safer and more comfortable.

Keep Your Windshield Clean

A dirty windshield can exacerbate glare. Regularly clean both the inside and outside of your windshield to ensure clear visibility. Consider using an anti-glare cleaning solution for the best results.

Adjust Your Driving Speed

When the sun is directly in your eyes, reducing your speed is wise. Slowing down gives you more time to react to any obstacles or sudden changes in traffic.

Maintain a Safe Distance

Increase the distance between your car and the vehicle in front of you. Sun glare can make it harder to judge distances, so giving yourself more space can prevent rear-end collisions.

Driving with the sun in your face requires extra caution. Following these tips can help you stay safe on the road. For more safety advice and to ensure you have the right auto insurance coverage, contact Franklin Insurance Agency, serving the greater Rio Rancho, NM area today.

Understanding Which Valuable Items Are Covered by Your Home Policy

Posted on May 27, 2024May 22, 2024 by admin

Many who purchase a home insurance policy may believe it automatically covers its structure and contents should something happen to it. However, the reality is far more nuanced than that. Knowing what’s covered and what’s not when it comes to your personal belongings will make all the difference should you find yourself facing a natural disaster or another emergency that impacts your home and its contents. If you’re shopping for home insurance in Albuquerque or Rio Rancho, NM, we’re here to give you the rundown on how much coverage you can expect to receive.

Does My Home Insurance cover My Valuables?

You’ll be pleased to know that most of your home’s contents are covered by your home insurance, including things like furniture, clothing, electronics, and similar items around the house that you’re likely worried about losing in various scenarios. That being said, some items have sub-limits, meaning only a small amount of your total coverage will cover some of your belongings. These limits are typically placed on higher-end items like jewelry (including gold and precious stones), firearms, and even larger items like watercraft. Making sure to schedule your items is crucial to getting the proper coverage. It’s also worth mentioning that your insurance might not cover certain types of damage. For example, if your home isn’t covered by flooding, damage to your items caused by flooding won’t be covered either.

Cover Your Home’s Contents With the Help of Franklin Insurance Agency

Here at Franklin Insurance Agency in Rio Rancho, NM, we understand the importance of having the right amount of coverage to ensure your home and your belongings are protected. We’re here to make sure that happens. Compare quotes today or contact us if you need additional support as you look for the right home insurance policy!

Is RV Insurance a Requirement?

Posted on April 26, 2024April 22, 2024 by admin

Having RV insurance is a crucial aspect of RV ownership. It provides financial protection when unexpected incidents occur and ensures that you stay on the road. At Franklin Insurance Agency in Rio Rancho, NM, we guide customers in finding the right insurance policy according to their needs.

What Is RV Insurance Really?

Essentially, RV insurance is a contract that pays for vehicle fix-ups or medical bills when a covered event occurs. Similar to auto insurance, RV insurance offers varying protection forms, such as liability coverage or comprehensive coverage, which is chosen based on various factors like the RV’s age, repair ability, driving frequency, and more.

Is RV Insurance a Mandate?

Most states necessitate RV Insurance. However, the required coverage amount varies from state to state. Your insurance agent at Franklin Insurance Agency, Rio Rancho, NM, can clarify adequate insurance coverage for your RV.

Additionally, if you have financed your RV through a loan, your lender might require insurance coverage. This helps protect their investment if an accident occurs. The lending bank might even demand higher insurance coverage than the state requirement, which should be factored in while budgeting for a new RV.