Personal Insurance Offerings
Homeowner's Insurance
Your home is most likely your greatest financial asset. Liveoak Agency offers a homeowners insurance quote, Make sure it is protected from fire, wind, hail, lightning, theft, or many other possible risks as would be outlined in your policy. A homeowner policy actually protects much more than you think. It protects far more than just the structure of the home. Homeowner insurance policies most often also cover damage done to other structures like a shed for example, personal property which is the contents of your home, liability should anyone other than your home dwellers get injured on your property, and then loss of use in case you can not stay in the dwelling following damage or during repair.
Our team of Professional Insurance Agents is standing by to provide you with your no obligation quote on homeowners insurance. Liveoak Insurance Agency is an independent agency which means we have contracted with several insurance companies, to choose from,each with specific emphasis on insurance elements. By doing this, we gain much freedom in placing our customers with the most beneficial company for them based on their personal circumstances. We feature ASI Insurance, Safeco Insurance, Travelers Insurance, and Auto Owners Insurance.
Our Insurance Agency:
- Trained knowledgeable professionals who always have your best insurance interest at heart
- Locally owned and operated
- Keep up with the latest insurance changes within the insurance industry
- Here to answer any of your insurance related questions
- Make sure that you have the appropriate coverage at the best rate
- Operate with integrity so that you can put your trust in us
Mobile Home Insurance
Liveoak Agency, Inc. can help you keep your family, assets, and home protected with a comprehensive Mobile Home Insurance Policy. Our expert team of agents can design a policy that offers additional coverage for the unique circumstances that come with owning a mobile home.
What Is Mobile Home Insurance?
Mobile homes, manufactured homes, and modular homes all qualify for coverage under a mobile home insurance policy. A comprehensive mobile home insurance policy from Liveoak Agency, Inc. protects against physical damage to your home, your property, and personal belongings – as long as the cause of the damage is not specifically excluded in the policy.
What Does Mobile Home Insurance Cover?
Structural Damage
Common covered incidents can include:
Fire and/or Smoke
Wind
Hail Storm
Lighting
Falling Objects
Explosion
Theft and/or Vandalism
Personal Property
Mobile home insurance also helps protect your personal property. This can include detached or adjacent structures on your property, such as the patio, shed, or garage, as well as personal belongings, such as furnishings or appliances. Coverage also includes assistance with living expenses should your home become temporarily uninhabitable as the result of a covered event.
Liability Protection
Even a single accident can result in a lawsuit that can ruin you financially. General liability insurance protects against third-party personal injury claims and/or damage to a third party’s property up to the coverage limits set by the policy. The most common types of liability claims are dog bites and fallen trees, but general liability insurance can cover:
- Assistance to repair or replace another person’s property damaged by you or a member of your family
- Payments to cover a third party’s medical bills, lost wages, or funeral costs
- Injury caused by potential dangers on your property for which you are legally liable, such as trampolines and swimming pools
- Protection against claims of slander or libel
- Attorney fees, court costs, and settlements
Other Coverage Options
Trip Coverage
As the name implies, mobile homes are mobile. These dwellings are manufactured in factories and delivered upon purchase. At any point after purchase, you can transfer your home to a different location. But, before moving your home, consider adding Trip Coverage to your mobile home insurance policy. For an additional premium, trip coverage provides insurance protection for your home while it is in transit. Coverage for relocating your home is ordinarily not included in basic policies, and to be valid it must be purchased prior to moving your home. Collision insurance will also cover your home as it is moved.
Broad Form Insurance
As with most types of insurance, you can design your mobile home insurance policy to cover more than the standard comprehensive policy. Broad Form Insurance can include atypical or excluded events not normally covered. This type of extended insurance will most likely require a higher premium payment and frequently an additional deductible.
Flood Insurance
Something you may not know but damage or loss from floods are not covered by your homeowners insurance policy.
Floodwaters have the power to damage not only your home and sense of security, but also your financial future. We have the right coverage to help you protect your most important investment in case of flood.
Don’t wait for FEMA to offer disaster relief that doesn’t truly repay your damage or destroyed property. You will have to repay any federal assistance loans back with interest in addition to your mortgage loan payment. With flood insurance you won’t have to wait for the president to formally declare your area a national disaster area.
When disaster strikes, flood insurance policyholder claims are paid even if a disaster is not Federally declared. Flood insurance means you’ll be reimbursed for all your covered losses. And unlike Federal aid, it never has to be repaid.
In general, a policy does not take effect until 30 days after you purchase flood insurance. So, if the weather forecast announces a flood alert for your area and you go to purchase coverage, it’s already too late. You will not be insured if you buy a policy a few days before a flood.
Personal Umbrella Liability Insurance
You’ve heard it a hundred times: Accidents Happen. It’s easy to dismiss it as just one of those things people say – until that accident plummets you straight into a lawyer’s office. If an accident happens, and you are deemed responsible, the injured party’s own insurance won’t necessarily let you off the hook. Additionally, if an accident happens on your property, whether you think it’s your fault, you can be sued. A personal umbrella liability policy from Liveoak Agency, Inc. provides additional coverage on top of your homeowners and automobile policies to protect you, your family, and your assets from a third-party liability claim.
What is a Personal Umbrella Liability Policy?
An Umbrella Policy provides financial protection two ways:
- It provides additional liability coverage above your current auto, homeowners, and boat insurance policy limits.
- It can cover claims excluded by other liability policies.
A Liveoak agent can review your current policies and help you decide how much personal umbrella liability coverage would be best for your needs.
How Does a Personal Umbrella Liability Policy Work?
Personal umbrella insurance provides additional liability coverage that kicks in after your other policy limits are exhausted. Obtaining umbrella insurance is preferable to just upping the liability coverage on your individual policies because an umbrella policy provides a wider range of coverage for a wider range of circumstances. For example, increasing the liability coverage of your homeowners policy would not apply to your vehicles, whereas an umbrella policy would.
What Types of Incidents Does a Personal Umbrella Policy Cover?
- It provides an additional tier of protection for your vehicles above that of your auto insurance policy.
- It covers specific occurrences that happen off your premises, i.e., your dog bites a neighbor.
- It covers property damage or personal injury caused by you or members of your family.
- It covers injury caused by potential dangers on your property for which you are legally liable, such as trampolines and swimming pools.
- It provides protection against slander, libel, wrongful eviction, or false arrest.
- It covers attorney fees when you have to defend yourself.
What Types of Incidents Does a Personal Umbrella Policy Not Cover?
- It doesn’t provide liability arising from certain recreational vehicles, such as aircraft and jet skis.
- It doesn’t cover damages expected or intended by the insured.
- It doesn’t cover damages to your own property.
- It doesn’t cover business activities, even if the activity is home-based.
Vacation Home Insurance
It’s your home away from home. It’s your refuge. Protect your sanctuary with a Vacation Home Insurance Policy. Liveoak Agency, Inc. has expert agents on deck to shop for the best deal available and write a policy designed just for you.
What is Vacation Home Insurance?
Similar to your homeowners policy, vacation home insurance policies generally provide coverage for loss, liability, and accidental damage. However, unlike your primary residence, your vacation home will often be unoccupied. The result – a higher premium. An empty house is at greater risk for vandalism, theft, and undetected damage, such as broken water pipes. But the peace of mind that comes with knowing your vacation home is covered makes those extra few dollars well worth it.
What Factors Influence Cost?
Location
As with any home, location is always a key factor in pricing insurance policies. A remote mountain cabin can be at greater risk for damage from wildfire. A beach house is more likely to incur wind damage. These types of risks can impact the price of coverage and deductibles.
Type of Property
The types of building materials used and the age of your vacation home can also impact the cost of insurance, along with the type of property itself, e.g. townhouse, condominium, single-occupancy home.
Amenities
Also referred to as “attractive nuisances,” amenities that increase risk such as a pool can trigger higher insurance costs.
What Does Vacation Home Insurance Cover?
Most vacation home insurance policies cover the same type of events as your homeowners policy. A Liveoak agent can go over the types of coverage available for your vacation home. Standard coverage can include:
Liability Coverage:
Provides coverage if you are found legally responsible for an accident that harms a non-resident of your home or causes damage to another person’s property
Comprehensive Property Coverage:
Covers physical losses not specifically excluded in your policy
Named Peril Coverage:
Covers damages specifically named in your policy, such as lightning, hail, and fire
Other Coverage Options
Other coverage options are available dependent on the type of policy you purchase. A Liveoak agent can explain each of these and tailor your policy to your specific needs. Other options can include:
- Actual Cash Value
- Agreed Loss Settlement
- Replacement Cost
- Extended Replacement Cost
Personal Auto Insurance
You may, or may not, be a great driver, but there are thousands of other motorists on the road. And let’s face it, we all make mistakes from time to time. It only makes sense to protect others, protect yourself, and of course, protect your vehicle with comprehensive coverage auto insurance through Liveoak Agency, Inc.
You need coverage for you and your family no matter what kind of car or truck you drive. In Alabama, a certain amount of coverage is required by the Mandatory Liability Insurance Law. All automobile owners are required to hold a certain amount of liability coverage.
Not sure if you are holding the right amount of coverage? Liveoak Agency, Inc. can help. A Liveoak agent can review your policy to ensure compliance with state law, as well as create a comprehensive policy based on your needs.
Types of Liability Insurance
To be compliant with Alabama state law, your liability insurance policy should include both bodily injury liability and property damage liability coverage. These policies will cover costs incurred, up to the limits of your policy, if you are the cause of injuries to a third party or damage to a third party’s property.
Additionally, if the injured party files a lawsuit against you, your liability coverage will pay your legal costs up to the limits of your policy. Otherwise, you will be held personally responsible for the payment of any costs incurred beyond your coverage terms. Keep this in mind as you set the caps for your liability policies.
Other Types of Coverage to Consider
In addition to the required liability coverage, there are several non compulsory policy options for additional protection. Liveoak Agency, Inc. can help you put together a comprehensive policy with the best price available. Optional coverage includes:
- Collision: helps pay for accident-related damage to your vehicle.
- Comprehensive: helps pay for damage to your bike resulting from a covered loss other than collision, such as vandalism, theft, or fire.
- Uninsured/Underinsured Motorists: helps pay for medical bills and/or damage to your motorcycle if you are involved in an accident with a driver who has inadequate insurance or no insurance at all.
Factors That Can Affect Your Premium
Bear in mind that several elements can affect the amount of your insurance premium, including:
- The type, style, and age of your vehicle.
- Your age.
- The number of miles you typically drive in a year.
Some insurers offer discounts based on certain considerations. Ask your Liveoak Agency, Inc. agent if you qualify for a discount. Liveoak Agency, Inc. is an independent insurer and will compare providers until we find the right price for you.
Term Life Insurance
What Is Term Life Insurance?
Simply put, term life insurance is a life insurance policy that is valid for a specified period of time, or “term.” The length of this term can be one year, five years, or up to 30 years. If the policy holder dies within the policy term, his or her named beneficiaries will receive a payout, called a death benefit. But if the policy holder dies after the term has expired, there is no payout.
Are There Different Types of term life insurance Policies?
There are two basic types of term life insurance:
- Annual Renewable Term
- Level Premium Term
Annual Renewable Term
Gives you one year of coverage at a time that you can then renew annually
Usually has the lowest annual starting premium
Premiums are not locked and will rise as you age
Level Premium Term
Bought for a specified multi-year period, i.e. five, 10, or 20 years
The premium is locked for the specified period
The premium is guaranteed never to change during the specified term
Other Variables That Can Affect Your Premium
- Health
- Budget
- Income
- Amount of Coverage
- Length of Coverage
- Type of Policy
Permanent Life Insurance
Life insurance. Not the most exciting topic. But having the right type of life insurance policy in place is crucial.
Liveoak Agency, Inc. has several policy options to choose from, and our expert agents can help you choose the one that best fits your financial needs and goals. Many folks find one of the three types of Permanent Life Insurance options to be the best fit for them.
What Is Permanent Life Insurance?
Permanent Life Insurance, often referred to as Whole Life Insurance, provides protection for your entire lifetime as long as you continue to pay the premium. This type of policy has set death benefits, a fixed premium, and builds cash value over time. There are three variations of permanent life insurance:
- Traditional Whole Life
- Universal Life
- Variable Universal Life.
Traditional Whole Life
Traditional Whole Life Insurance is the most basic type of permanent life insurance – fixed premium and death benefit and accrued cash value. A whole life policy will be more expensive than term life insurance, but with a whole life policy, the policy owner has the guarantee of a minimum death benefit amount as well as an increase in cash value.
Universal Life Insurance
A Universal Life Insurance Policy differs greatly from the traditional whole policy. Unlike the traditional whole policy’s fixed premium, after the initial premium payment, a universal life policy offers the policy holder the option of adjustable premiums and flexibility in when the premium payment is due. In other words, the policy holder can pay more or less on their premium based on their financial status. A universal life policy does offer a guaranteed rate of return on cash value, but unlike the straight-up guarantee provided by a whole life policy, there are caveats to the guarantee embedded in the universal policy.
Variable Universal Life
A Variable Universal Life policy is similar in structure to a universal life policy, but the variable universal offers more investment options. As with any investment, your cash value can go up – and down. The policy holder will only receive the death benefit if the policy keeps an adequate cash value.
Group Benefit Insurance
Group Benefits Coverage is an important part of a company’s overall employee compensation plan. Group benefits coverage can include life insurance, health insurance, and retirement plans. These types of benefits can help employers attract and retain first-rate employees. In most cases, the cost for group coverage is much less than it would be if an employee bought a similar amount through a private individual policy. Liveoak Agency, Inc. can help you set up an inclusive group benefits plan to suit your budget and employee compensation goals.
How Group Benefits Coverage Works
The organization/employer that purchases the group policy is considered the “policy owner.” As the policy owner, the organization/employer keeps the original contract, called “the master contract.” Those eligible to elect coverage through the companies group benefits policy receives a certificate of insurance known as a “certificate of credible coverage.”
A certificate of credible coverage serves as proof of insurance, but it is not the actual life insurance policy. This document lays out the terms of the individual’s policy, such as beneficiaries, and, In the event the policy holder leaves the company – thus terminating the policy – the certificate of credible coverage will need to be provided to any subsequent insurance companies.
Are There Different Types of Group Benefits Coverage?
The most common form of group benefits life insurance is term insurance. Group term life insurance is typically offered in the form of annual renewable term insurance. Customarily the employer will pay most, if not all of the premiums, but this is not always the case. Employers can offer term life insurance in multiple ways: employer-paid, employee-paid (voluntary), or a combination of these (contributory). The amount of coverage is equal to one to two times the employee/s yearly earnings. Organizations/employers have quite a bit of leeway in choosing how and to whom they offer participation in group insurance plans. Employers can choose to offer this benefit to all employees, or only a select class of employees. Employers can also exclude certain employees that don’t meet specific criteria. Many employers require employees to work a minimum number of hours per week to be eligible. Many times an employee must remain employed for an allotted time before they are eligible for benefits.
Boat Insurance
Don’t Use a Boat without Boat Insurance
One policy includes protection against loss to your boat, motors, trailers and equipment and liability for property damage or physical injury to others caused by you or other boat operators. If you are looking for boat insurance, Liveoak Agency can give you the best options and the best prices.
Important Facts About Boat Insurance
Many boat owners unknowingly rely on the false notion that their boat is fully covered by their homeowners insurance. The fact is, homeowners insurance provides little or no coverage for boats.
Liveoak Agency, Inc. can put together a policy that is best for you, your boat, and your wallet.
Accidents happen. If you are found to be at fault for a boating accident, liability coverage can help. Full Liability Insurance can cover:
- Replacement of or repairs to the property of others involved in the accident
- Medical care, lost wages, and other costs incurred to others as a result of the accident
- Protection to your personal assets in the event of a third-party lawsuit
Basic Boat Insurance Coverage primarily helps with the costs of making repairs to your boat that are not associated with standard maintenance and upkeep. Like auto insurance, there are two types of basic boat insurance:
- Collision: Helps pay for repairs if your boat is damaged in a collision.
- Comprehensive: Helps cover costs associated with incidents like vandalism or theft, as well as damage caused by a non-collision event such as a fire or storm.
As you make decisions about your own boating insurance, consider adding Uninsured Boater Coverage to your policy. Uninsured boater coverage protects you and your property if you are involved in an accident caused by a boater who does not carry liability insurance.
In addition to protecting yourself and your assets, having a boating insurance policy in hand can save you time later:
- Your bank may require proof of insurance if you use your boat as collateral for a loan.
- Marinas may require proof of insurance before entering into a slip rental agreement.
Owning and operating a boat comes with inherent risks, both on and off the water.
If you still have concerns about the type and amount of your coverage, a Liveoak, Inc. agent will review your policy and options with you.
Motorcycle Insurance
A patch of gravel or a sudden deluge can ruin a perfectly good Saturday ride. Protect others, protect yourself, and of course, protect your bike, with comprehensive coverage motorcycle insurance from Liveoak Agency, Inc.
In Alabama, a certain amount of coverage is not a choice. Motorcycles, street-legal mopeds, and scooters all fall under Alabama’s Mandatory Liability Insurance Law. As with automobiles, motorcycle owners are required to hold a certain amount of liability coverage.
Not sure if you are holding the right amount of coverage? Liveoak Agency, Inc. can help. A Liveoak agent can review your policy to ensure compliance with state law, as well as create a comprehensive policy based on your needs.
Types of Liability Insurance
To be compliant with Alabama state law, your liability insurance policy should include both bodily injury liability and property damage liability coverage. These policies will cover costs incurred, up to the limits of your policy, if you are the cause of injuries to a third party or damage to a third party’s property.
Additionally, if the injured party files a lawsuit against you, your liability coverage will pay your legal costs up to the limits of your policy. Otherwise, you will be held personally responsible for the payment of any costs incurred beyond your coverage terms. Keep this in mind as you set the caps for your liability policies.
Other Types of Coverage to Consider
In addition to the required liability coverage, there are several non compulsory policy options for additional protection. Liveoak Agency, Inc. can help you put together a comprehensive policy with the best price available. Optional coverage includes:
- Collision: helps pay for accident-related damage to your bike.
- Comprehensive: helps pay for damage to your bike resulting from a covered loss other than collision, such as vandalism, theft, or fire.
- Uninsured/Underinsured Motorists: helps pay for medical bills and/or damage to your motorcycle if you are involved in an accident with a driver who has inadequate insurance or no insurance at all.
Factors That Can Affect Your Premium
Bear in mind that several elements can affect the amount of your insurance premium, including:
- The type, style, and age of your motorcycle.
- Your age.
- The number of miles you typically drive in a year.
- How and where you store your motorcycle.
Some insurers offer discounts based on certification and other considerations. Ask your Liveoak Agency, Inc. agent if you qualify for a discount. Liveoak Agency, Inc.is an independent insurer and will compare providers until we find the right price for you.
Recreational Vehicle Insurance
Recreational vehicles give you a since of adventure and freedom to explore the rest of the country on your own time. They offer you fun and comfort as you travel from place to place. However these vehicles do need to be covered to give you even more peace of mind so that you know your RV is protected.
Liability Insurance for Recreational Vehicles
Your recreational vehicle is, just like an automobile, a moving vehicle that can cause bodily injury and property damage to others. In order to help pay for any damage you inadvertently inflict, you should secure liability insurance. This policy can also help cover the cost of environmental cleanup after an accident that causes the spillage of a toxic chemical or other pollutant.
Liability coverage will have limits that work on both a per-incident and per-policy basis. They may also have a deductible that requires an out-of-pocket contribution for each incident or year.