How much life insurance is enough

Life insurance is one of the best gifts you can purchase for your loved ones. It says I am thinking of you even when I am no longer here with you. It’s hard to imagine anyone not wanted to provide for their loved ones but how to do it is the issue. Life insurance is not something most people know a lot about. Having a trusted independent insurance agent can help. Pete Webb Agency in Fredericksburg, VA has a team of experts who are looking forward to helping you to come up with a life insurance figure you can live with. 

For a young unmarried person who is only responsible for themselves, life insurance needs are pretty minimal. This is the time of life to be thinking ahead since the rates for life insurance when you are young will usually be affordable. Having your eyes focused on the future allows you to invest in the whole life insurance or an annuity that will provide benefits farther down the road of life. If you get life insurance as a work benefit, it is probably enough to take care of any debt you have and your final expenses. 

The middle years of your life are where your need for life insurance will be at its highest. Once you have a spouse and children, you need to think about life insurance more in the present. How much money will they need to survive if your income is taken away? You need to multiply that by the number of years until your children are grown to come up with a figure that will be enough. 

When you retire you need to take another look at what insurance you have and how it can make your life better in these later days. 

Contact Pete Webb Agency in Fredericksburg, VA to discuss your life insurance needs and for assistance determining how much life insurance is enough. 

When should you review your home insurance policy

America is the land of opportunity and owning a home is one opportunity many people want to take advantage of. Once you have finally achieved this pinnacle of success, you need to protect your home. Buying home insurance is not difficult but it needs to be kept up to date with your life. It is not something that should never change. Having an independent insurance agent who has your best interest at heart helps. In Fredericksburg, VA that is the Pete Webb Agency. We are locally owned and operated and enjoy working one on one with our customers. 

Your income rises

When you make more money you should take a look at your liability home coverage. Being sued is all too common and protecting yourself against this possibility is important. Depending on how long ago you bought your original home insurance policy, it may be very much out of date with where you are financially today. 

You have more content

Everyone accumulates a lot of personal possessions. Making sure you have adequate coverage to be able to replace the things you own is important. If you have actual value coverage you may want to consider replacement cost. If you have acquired expensive electronics, jewelry, or art, you may need to add a rider to cover the mount beyond what your traditional policy covers. 

Home value has increased

The value of your home may have increased for a variety of reasons. Real estate values may have increased in your area and rebuilding cost may have gone up as well. Make sure your home replacement value makes sense in your neighborhood. If you have made major updates or renovations this increases the value of your home. Discuss them with your insurance agent. 

If you have questions about home insurance coverage or any other type of insurance, Pete Webb Agency in Fredericksburg, VA is here to help. 

When should I get auto insurance?

Anyone that lives in Fredericksburg, VA would benefit by owning their own vehicle. When you are a car owner here, you can find that it will be a lot easier for you to get around town and complete all of your daily tasks. Those that are in the market for a vehicle also need to get proper insurance for it. There are several situations when someone should get an auto insurance policy.

When Looking to Drive on Public Road

You will first want to get auto insurance if you want to drive your car on a public road. People in Virginia will need to comply with the state-mandated liability insurance laws. If you do not have at least this minimum level of coverage, you will be out of compliance with state law. Due to this, you should make sure that you get appropriate insurance that will meet your needs. 

When Taking out an Auto Loan

Another scenario when you should get auto insurance is when you are going to take out an auto loan. Anyone that has taken out a loan to buy a car will have specific insurance requirements. It is important that you get an insurance policy that meets your requirements. This coverage often will include having collision and comprehensive protection. 

When you purchase a car in Fredericksburg, VA you undoubtedly will need to have auto insurance coverage. Those that look for this protection can find that there are a lot of options to choose from, which can make picking a policy confusing. Due to this, you should speak with the Pete Webb Agency. The team of insurance professionals at the Pete Webb Agency can help you assess all of your individual risks and needs and choose an appropriate policy. 

4 Benefits of Getting Classic Car Insurance

If you own a classic vehicle, you know that there are some unique circumstances that go along with your ownership. For one, you’ll need to have a specific type of insurance since your average auto insurance policies just won’t cut it. Pete Webb Agency of the Fredericksburg, VA area can help you get this situated.

Benefits of Having Classic Car Insurance

One of the top benefits of getting classic car insurance is that you’ll have liability coverage. All states require a minimum of this type of insurance if you’ll be driving the vehicle. When you have this, you’ll be covered if you’re found to be at fault in an accident.

With this insurance, you can preserve your automobile’s value. Upon signing up for classic car insurance, you agree on a replacement value for the vehicle. This is unlike what you have with regular auto insurance. You’ll be able to protect its unique value which in some cases may be substantial.

There are optional coverage options that are available to you when you have a classic vehicle. You may get coverage for spare parts, special repair parts coverage, roadside assistance, event-specific coverage which includes the cost of traveling,

Bring your classic car to shows all you want with the protection of a solid insurance policy. Your mind should be more at ease since you’ll know that those out-of-the-ordinary circumstances are considered in your auto policy.

Expertise and professionalism go a long way towards instilling confidence in an insurance customer. The Pete Webb Agency of the Fredericksburg, VA area and beyond does well to assist you with your classic car insurance needs along with a variety of other insurance products. Contact us to learn more today.

Avoid Driving Distractions on the Road

According to the NHTSA (National Highway Traffic Safety Administration), 2,841 individuals died from distracted driving in 2018. It’s up to everyone to try to keep the roads a little safer when driving and one way you can help is to avoid driving distracted. The Pete Webb Agency would like to share a few tips for you when driving in Fredericksburg, VA.

  • Cellphone. Using your phone to read emails, text, or watch videos might only take your eyes off of the road for a few seconds, but during that time a child could run into the street or another car could swerve into your lane. Wait until you get where you’re going before using your cellphone.
  • Passengers. It’s typical to want to look at a person when you’re having a conversation. When you have passengers in your vehicle, just remember that they know what you look like. You don’t have to take your eyes off the road to talk to them. Little passengers can be big distractions too. Give them something to play with during the ride or play a game of I Spy.
  • Eating. Unwrapping that hamburger and reaching for some fries can be satisfying, but it’s also a distraction. You can’t always find the bag, or you want to add ketchup to your meal, either way, you’ll have to take your eyes off the road to eat. Seconds could mean an accident and getting into an accident over a French fry seems like a foolish risk. Leave earlier and eat at the restaurant or wait to eat later.

Get in touch with the Pete Webb Agency in Fredericksburg, VA. They have insurance agent that can get you started with an auto insurance policy. While you’re there check out home and life insurance too.

An Overview Of Everything That Long Term Care Insurance Entails

Based in Fredericksburg, VA, Pete Webb Agency is committed to helping residents find the insurance coverage that will help them plan for any potential risks. Sometimes accidents happen, which is why we strive to make sure that our clients have the necessary coverage so that they will be protected regardless of the situation.

Long Term Care Insurance

Long term care insurance gives you a layer of security and helps ensure that your health care is covered for an extended period of time. The policy covers you in the event that you have to undergo rehab at a special facility. You’ll also be covered in the event that you have to undergo treatment at an assisted living home. All of your therapy and medication is also covered. You’ll also be covered if you need assistance performing regular tasks such as bathing, eating, and putting on your clothes on a regular basis.

Long term care insurance is a security net for people who are unsure about their health in the future. If you have a family history of issues such as dementia and high blood pressure, the risk that you may inherit those conditions in the future is high. Long term care insurance ensures that you will be covered in the event that your health changes over time.

In some cases, you may be able to amend your policy in the event that your long term care is not as severe as you imagined. That’s why you should undergo a medical exam while you are researching different policies. If you are diagnosed with a chronic illness, you will be protected through your policy. If you suffer a severe injury that will leave you immobilized for an extended period of time, long term care insurance will help alleviate some of the stress so that you can focus on getting better.

Consult With Pete Webb Agency

To learn more information on how we serve the Fredericksburg, VA community, visit our website today!

How can I pick an auto insurance Policy?

Choosing an auto insurance policy is always going to be a big decision. For those that are in the Fredericksburg VA area, having insurance is a necessity when you want to drive. There are several tips that you can follow that can help you to pick a new auto insurance policy. 

Consider Coverage Needs

One factor that you need to think about when you are going to choose a policy is what coverage you need. For those that are in Virginia, the only legal obligation they have is to carry liability insurance. However, if you have a car that is financed with a loan or you want to receive coverage for, you should get a full collision and comprehensive policy. 

Deductible Level

Another factor that you should consider is your deductible level. The deductible in your insurance plan is the amount of money that you will have to spend out of pocket before you receive reimbursement through an insurance claim. Most people will choose a deductible that ranges from $500 to $1,000, but there is more flexibility. Generally, the higher your deductible is, the lower your premiums will be. If you do choose a high deductible, it would be wise to ensure you have this amount of money set aside in a bank account.

Picking a new auto insurance plan is a big choice for anyone in the Fredericksburg, VA area. If you are looking for insurance here, you should speak with the team at Pete Webb Agency. When you speak with the team at Pete Webb Agency, you are going to receive personalized guidance that can help you to choose a policy. This will help to ensure that you get into a policy that offers you with great coverage and support. 

Is your Business Properly Covered?

Congratulations on starting your business. You’ve worked hard to get that dream business going, and it is crucial not to let any situation come to destroy what you have built. Therefore, it is vital to obtain business insurance to protect you from receiving unexpected expenses that will hinder you from running your business. 

With the right insurance, you won’t risk going out of business because of natural disasters, accidents, and lawsuits. Having a business structure, like a corporation or LLC, will give you some personal property protection from lawsuits. However, the operative word here is "some," meaning a limited type of protection.

For the State of Virginia

Also, each state has there own requirements when it comes to business insurance. And in the state of Virginia, whether it is Fredericksburg, VA or another area, it will behoove you to obtain the legal requirements, if nothing else, to make sure you comply with the state. Other than that, different business insurance types may be needed to ensure adequate coverage. 

Common Types of Insurance

From worker compensation to commercial auto insurance, it is vital to get adequate and reliable business insurance to make sure your company is adequately insured. Don’t be caught off-guard when and if the unthinkable happens. You should contact a reliable, experienced, and licensed insurance agent to lead you in the right direction. 

Some common types of commercial insurance are utilized according to the state’s regulations, industry, property, etc. These common types include the following: 

  • General liability insurance
  • Product liability insurance
  • Professional liability insurance
  • Commercial property insurance
  • Home-based business insurance
  • Business owner’s policy

Contact Us Today

To find out more about business insurance from a reliable agent, contact Pete Webb Agency today. Located in Fredericksburg, VA, this agency has been serving this agency for several years. The staff at Pete Webb Agency are highly-trained, experienced, and will lead you in the right direction. Contact Pete Webb Agency to learn more.

 

Life insurance to help your heirs when you pass away

Generally, life insurance is taken out as a way to help your heirs deal with your final expenses after you pass away. However, as the Pete Webb Agency serving Fredericksburg, VA explains, you can and should carry enough life insurance to help your heirs carry on beyond paying your final expenses if you are still the primary breadwinner. Your surviving spouse will have some money to replace your lost income. Your surviving children will have money for their education and other expenses.

What happens when you have passed into your senior years, and your children have grown up and become adults. As it turns out, a life insurance policy can be used as part of their inheritance. Proceeds from life insurance are generally not taxable so long as they are paid off immediately after your death. They are also not subject to the probate process, so your heirs can get the money sooner than other parts of your estate.

Many people like to use life insurance to pass on an inheritance to their heirs because they have less money in savings and need their savings to supplement their social security income. Others have substantial savings but prefer to have a more comfortable retirement, say engaging in travel and other fun activities. Still, others are obliged to spend their savings on healthcare, treating the many ailments to which age is prone.

Whatever your reasons, you should consider having a substantial life insurance policy as part of your inheritance strategy. For more questions about all aspects of life insurance, feel free to contact the Pete Webb Agency serving Fredericksburg, VA.

What to Expect from Home Insurance Coverage

As a new homeowner, you’ll have countless decisions to make concerning the care, safety, and security of your property. One of these decisions is choosing home insurance. At Pete Webb Agency, we understand that home insurance can be a confusing topic for new buyers. For this reason, we’ll take the time to explain how home insurance works and what to expect from your coverage. The more you know about home insurance protection, the smarter choices you can make to safeguard your Fredericksburg, VA property.

What Kind of Protection Does Home Insurance Offer?

A standard home insurance policy offers the following coverage: 

  • Dwelling
  • Additional Structures
  • Property
  • Liability

Dwelling

Dwelling insurance protects your home structure against damage from fire, rainstorms, windstorms, lightning strikes, and water damage from faulty plumbing. Virginia is prone to disasters like tornadoes, tropical storms, winter storms, and wildfires, which can severely damage or destroy residential property. If your home is damaged by one of these perils, dwelling insurance will help cover its repair cost. By purchasing enough dwelling insurance to cover the value of your home, you’ll have the compensation you need to rebuild it if it’s totally lost in a disaster. Extra buildings on your property that are not attached to your home, such as a tool shed, can be protected with additional structures coverage.

Property 

Property coverage protects your belongings to include clothes, sports gear, electronics, etc. When choosing property coverage, it’s important to estimate the value of your goods to ensure you have enough protection to cover their loss. 

Liability

If someone has an accident when visiting your home, you can be held liable for their medical costs. Liability insurance covers these expenses to safeguard your personal finances. 

To learn more about home insurance coverage and costs, call or visit Pete Webb Agency in Fredericksburg, VA at your earliest convenience.