What Constitutes Long Term Care?

Many people confuse long term care with a disability, even though the two are drastically different. The agents of Pete Webb Agency serve residents throughout the Fredericksburg, VA area. They understand the reasons behind long term care and why it is so important to have an insurance policy that covers it. Dealing with a chronic illness or injury can be a hardship in and of itself. Knowing that you are covered by insurance can relieve some of the stress and lighten the burden. 

Chronic Illness and Recovery

Chronic illness or the long term recovery of a devastating injury can require extensive medical care. In some cases, like with a stroke or accident-related, the recovery process can take months or even years. While extensive care may be needed in the beginning, as the patient recovers, the amount of care they need will decrease as their health improves. 

Assisted Living

Assisted Living is another form of long-term care that doesn’t necessarily have to do with actual medical care. As we age, there are times where we require assistance with basic, everyday tasks, like cleaning our home, bathing, cooking meals, or doing laundry. This type of long-term care allows an individual to live independently for as long as possible without having to leave their home and go to a nursing home.

The agents at Pete Webb Agency are available to answer all of your questions about long term care insurance and how having a policy will benefit you in the long run. If you live in the Fredericksburg, VA area, stop by the office or schedule a consultation today! An agent is always available during regular business hours and can provide you with the answers you need. 

 

3 Ways to Keep Employees Safe in Your Virginia Business

Maintaining a business in Fredericksburg, VA requires the safety of your employees while they are on your clock. Below are three ways to keep them safe while they are working and aware of their surroundings from Pete Webb Agency. 

Stay Aware

First and foremost, make sure that your employees know that they are looking for and to stay alert while they are working. Knowing where the exits are and being able to see clearly from their work area is essential. Clue them in on signs of suspicious behavior from customers and be aware of who may be lingering in the area around the business. 

Create and Implement a Plan

Have safety meetings regularly with your employees to develop a plan if their safety is in danger. Whether it be an armed robbery or troubled person, develop a plan to alert others for help and stay safe until first responders can arrive at the scene. Once this plan has been outlined, have your team practice it periodically so that they know where the location of the telephones, panic buttons, and any other security features are in the building. 

Self-Defense

For those businesses in Fredericksburg, VA that may have limited staff on a shift, it is smart to offer your team members self-defense classes to give them the proper use of the only resource they may have. In some situations, they may not be able to follow through with the plan and have only themselves for protection. Self-Defense classes give them a basic foundation of tricks to escape a situation so that they can get help. 

Have ultimate protection

At Pete Webb Agency, we strive for our clients to have access to the best commercial insurance coverage options. Contact us today for more information.

Advantages of Using Life Insurance in Estate Planning

If you have a life insurance policy, it’s probably so you can leave money to your named beneficiary. Serving Fredericksburg, VA, Pete Webb Agency urges people to get life insurance policies because of their value in estate planning.

Payout Is Quick

Life insurance is an excellent way to help your beneficiary pay your final expenses. Since there is no need to go to probate court, the proceeds from your life insurance policy are available to your named beneficiary shortly after your death. Another advantage is that unless you leave a hefty estate that exceeds the federal exemption or live where there is a state death tax, life insurance is not taxable.

Gains for You While You’re Alive

The benefits of life insurance can extend to you while you’re alive. If you have permanent life insurance, some policies allow you to borrow money on the policy or to make cash withdrawals based on the amount you’ve paid in. With this kind of policy, you may also be able to withdraw funds if you become disabled or need long-term care. This spares you—at least for a time—from having to tap into your personal assets or having your named beneficiary withdraw personal funds. Although loans on this kind of policy are usually tax-free, typically, you still have to pay interest on the loan to keep the policy from lapsing.

Survival of Your Business

If you’re a business owner, any kind of life insurance policy can keep your business `afloat as plans are made for new leadership. You may need to consult an attorney about this, but often the purchaser of the policy names the business as the beneficiary.

Contact Pete Webb Agency, which serves Fredericksburg, VA, to discuss the benefits of life insurance in estate planning.

 

Will Home Insurance Cover Fence Repairs?

Good fences make for good neighbors… at least until that fence falls and you’re left with questions on who will cover the often expensive replacement or repair. Fences are wonderful additions to homes that increase your privacy and make it easy to keep kids and pets corralled. They can feel like an extension of your home but unlike most other of your home’s building structures, fence repairs are generally only covered by home insurance policies in certain situations. For more details, contact Pete Webb Agency in Fredericksburg, VA.

Nature-related vs. Neglect

Generally, whether or not your fence repairs will be covered by your home insurance policy hinges upon whether the damages are due to an act of nature or the neglect of general care and maintenance. In other words, if strong winds or hail damage your fence, then yes, homeowner’s insurance should approve your damages claim. However, if your fence fell due to something that could have seemingly been prevented with good preventative measures, like rot stemming from termites or mold, then your claim will likely be denied.

Tree-related: Healthy vs. Sick

One of the more common causes of sudden fence damage is damage caused by a fallen tree or branch. Tree situations are one of those things that can go either way. If the tree was healthy and was unexpectedly uprooted by a storm, then damages will often be covered. But if the tree, as with the fence, hadn’t been properly maintained and fell due to it being dying or ill, then fence repair or replacement will be the homeowner’s responsibility.

Human-related: Vandalism & Vehicles

Generally put, if someone else damages your fence either with their car or by their own actions (like vandalizing with spray paint), then it’s them who will be required to pay for the damages via their own insurance. But if you can’t find them or are unable to pursue them for damages, then you can get coverage by filing a police report and submitting an insurance claim.

Contact our team at Pete Webb Agency in Fredericksburg, VA for more information. 

Are Non-Family Drivers Covered by Your Auto Insurance?

Your auto insurance policy automatically covers relatives that are part of your household. But what about friends who are visiting for the holidays? If your college buddy had an accident while driving your vehicle, would he be protected by your auto coverage? Many people are confused about who is and isn’t covered under their auto insurance policy. The following guidelines by Pete Webb Agency in Fredericksburg, VA can help clarify how auto insurance works when it comes to guest drivers.

Family Members

Live-in and visiting family members who have permission to drive your car are covered under your auto insurance policy. In the event of an accident, they will be protected by your coverage. Before loaning your vehicle to a family member, make sure he or she has a valid driver’s license.

Non-Family Members

Your auto insurance also protects Non-family members (friends, colleagues, etc.) who borrow your car if they have permission to use your auto.  If you’re planning a road trip and want to share driving responsibilities with a college buddy, you can have full confidence that your policy will cover him or her. By being selective in who you allow to drive your vehicle, you can reduce the risk of accidents. Some people are safer drivers than others – stick to those with good driving records to protect your auto. You should also make sure all friends driving your vehicle have valid driver’s licenses.

Review Your Auto Insurance Coverage

Before loaning your vehicle to a friend or relative, review your auto insurance policy to refresh your memory about coverage. Sometimes guest drivers have less coverage than drivers in your household. When in doubt, ask your agent to clarify this matter.

To learn more about auto insurance coverage and costs, contact Pete Webb Agency in Fredericksburg, VA.  

What’s the Difference Between Classic Car Insurance and Standard Auto Insurance?

Can you picture it? You’re taking a little cruise around Fredericksburg, VA, with your shiny classic car. You’re participating in auto shows and enjoying one of your favorite things in life. If this sounds good, then you should probably learn about classic car insurance. It’s pretty different from normal car insurance, so the agents at Pete Webb Agency have put together this quick guide to explain the differences.

Out of Pocket Cost

Before we get into the details, remember that every insurance policy is unique. These are general guidelines, and specific cases can definitely be different. With the disclaimer out of the way, what surprises most people about classic insurance is that it tends to cost a lot less than standard insurance. The assumption is that a classic car is not driven as often as a standard vehicle, and that leads to lower premiums and deductibles. That said, if you drive your classic car on a daily basis, you need standard auto insurance rather than classic insurance.

Coverage

The primary difference between the two policies is that they are intended to cover different things. The bulk of standard auto insurance is crafted around liability. The value of the car plays a part in your coverage, but there’s a lot more being factored into the equation. Because of that, standard policies rarely cover the vehicle for as much as you paid to get it. With classic insurance, liability risk is minimized. The policy is built around the current value of the vehicle, and that means it will pay out pretty much what the classic car is worth. Of course, the value of a classic car can change pretty quickly, so it’s important to regularly update your classic policy.

If you have a classic car, or if you’re thinking of finally pulling the trigger, talk to your Pete Webb Agency representative. They can help you look at different policies available in Fredericksburg, VA, and get exactly what you need

Summer Safe Driving Tips

There’s nothing more fun than going on a long road trip in the summer months when you live in the Fredericksburg, VA area. But, don’t head out without a plan to keep your trip enjoyable and safe. Use these tips from the Pete Webb Agency to ensure that the only excitement that happens in the kind that you plan.

Check Your Vehicle

  • Before you go on a summer trip, be sure that your car is in proper working order and basic maintenance has been performed. Keep up with basic car maintenance like tune-ups, oil changes, and tire rotations.
  • If anything is getting worn, like your tires, belts, hoses, or your windshield wipers, go ahead and replace these things before you hit the road.
  • Check the air pressure on your tires and don’t forget to check that your spare tire has adequate pressure too.
  • Look at your owner’s manual to learn how to check all of your fluid levels, like brake fluid, transmission fluid, coolant, and power steering fluid. Add extra fluid if needed before you leave.

Use Safety Conscious Driving

  • Don’t ever try to drive while operating a cell phone or other handheld device. For long trips, invest in a blue-tooth headset if your car is not equipped with one so that you can take calls while driving.  Otherwise, put your phone on silent until you can return texts and calls while on a break from driving.
  • Never try to drive after drinking. Make sure that you have a designated driver or call a cab if you are attending a gathering where you will be drinking.  
  • Don’t try to drive when you are sleepy. Be sure to plan for adequate rest before you hit the road and don’t be afraid to stop to rest if you start getting tired. 
  • If you are driving with small children, be sure that they are in properly-installed, properly-sized child restraint seats. 

Pack Emergency Supplies

  • Make that sure your car has what you will need to change a flat tire, including a tire tool, jack, and spare tire. 
  • You may want to pack a bag with extra snacks and water, just in case you were to get stranded in an isolated area for a few hours.
  • Be sure to have a paper map in addition to the one on your cell phone, just in case you have problems with your phone. 
  • Flares and jumper cables can help you be prepared for emergencies on the road.

Before you head out of town, make sure that your auto insurance is up to date and covers any possible problems on the road. For more information about auto insurance in the Fredericksburg, VA area, contact the Pete Webb Agency.

An Introduction to Long Term Care Insurance

An Introduction to Long Term Care Insurance

Pete Webb Agency of Fredericksburg, VA wants you to have a clear understanding of all of your insurance possibilities. If you have not learned about long term care insurance yet, read on to find out how it can help you over the long-term. A type of health insurance, long-term care insurance, pays for long-term services like assisted living or a rehabilitation facility. It also may cover in-home care. It reimburses the policyholder a pre-set daily amount to pay for daily living assistance like bathing, dressing, eating or psychiatric care that includes therapy and medication. Premiums vary for long-term care policies. The cost depends on the following factors:

  • your age when you purchase the policy,
  • the policy maximum per day,
  • the maximum length of time a policy will pay,
  • a formula that multiplies the maximum per day payment times the length of coverage.

Apply for long-term care insurance while you remain healthy. Most policies require medical underwriting. You may have to undergo a medical exam. If you already live in a long-term care facility or use in-home care or experience poor health, you probably will not qualify. You can obtain this type of coverage as a private, individual experience or as part of an employer-based group plan. You’ll have a multitude of coverage options. You can add care coordination or adult day care to many policies. Some pay for home modification. Come by to talk to Pete Webb Agency of Fredericksburg, VA about long-term care policy options. You may not have considered it before, but it can help you if you suspect you may develop problems in time due to a family history of diabetes, heart attacks or other health problems.

What are my life insurance options?

Making sure that you have the proper level of personal insurance in place is important for all people. For many people, this includes having medical, home, and auto insurance. However, it also needs to include having life insurance. When you are looking for a new life insurance policy, there are a variety of options available to you. It is important to be able to distinguish between the two most common, whole and term life insurance. 

Whole Life Insurance

One type of life insurance to consider is whole life insurance. This type of insurance can give you life insurance protection for your entire life. Many people prefer this type of insurance because it also acts like a conservative investment. Each month, a portion of your premium will be deposited into an account that will appreciate in value and can be liquidated. While this is a benefit, the cost of the policy tends to be much more than term life. 

Term Life Insurance

When you are looking for the most life insurance coverage, term life is your best bet. With this type of coverage you will only be covered during the term and your premiums will not appreciate like they do with whole life. However, the cost per dollar of coverage is a fraction of what it is with whole life, which can save you a lot of money. 

Getting the right life insurance is very important for anyone in the Fredericksburg, VA area. When you are trying to better understand your life insurance options and needs, you should contact the Pete Webb Agency. The team at the Pete Webb Agency knows all about the various life insurance options that you have at your disposal. They can then work with you to figure out what options is right for your situation.