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What Are the Types of Life Insurance?

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There are different types of life insurance, and each has its own pros and cons. The two main types are whole life insurance and term life insurance. These two types are very different from each other, though they have some similarities. Both of these insurance types are there to pay out when you pass away to leave something behind for those who depend on you. When you’re in need of a life policy, call us at Capretta Insurance Agency in Parma, OH.

Types of Life Insurance

Term Life Insurance 

With this type, the coverage only stays good for a specific amount of time. The policy will be written so that it’s good for a certain number of years. During that time, the policy will be active and will pay out a death benefit to your beneficiaries. However, once that term is over, the policy is closed. You will no longer be insured by that policy. To stay covered by life insurance, you’ll need to apply for a new policy. This insurance type is popular because it comes with a much smaller price tag than the other type. 

Whole Life Insurance 

This type doesn’t have an expiration date associated with it. The policy you buy stays in effect while you’re making the payments. To keep the coverage, just keep making the payments. This type is more expensive than the other one, but it has its own benefits. One of these is that the policy builds a value that you can later borrow against. If you have a financial disaster, there will be money you can borrow to take care of it. 

Get Life Insurance 

If you aren’t sure which type of life insurance is right for you, you need to contact us at Capretta Insurance Agency in Parma, OH to discuss which one would best fit your needs. 

When Your Tire Goes Flat On a Trip Out of State, Does Your Insurance Help You?

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When you work with Capretta Insurance Agency, you can find high-quality insurance plans for your Parma, OH vehicles. For example, we can help you if your tire goes unexpectedly flat and you aren’t sure where to turn. Our team will make sure that you have the support you need to get your tire fixed.

Your Insurance Remains Valid 

Even if you travel beyond Parma and the Ohio border, your insurance is valid. Even with state-specific providers, your policy will help you. Insurance would be useless if you couldn’t use it outside of your state, and national law requires it to apply to every possible covered situation.

So, if you’ve traveled to Florida from Ohio or even further and got a flat tire, your insurance will help you. Even if the company helping you doesn’t take that insurance, you might still get compensated by filing a claim with them and providing evidence, such as your towing service receipt.

What Protection You Need

It’s critical to get roadside assistance protection if you plan on taking multiple big trips outside the state and are worried about getting a flat. Policies like these protect you by providing help when your tire goes flat. For example, if you suddenly lose air, roadside assistance will support you.

Just as importantly, great roadside assistance policies provide hands-on support with towing, repairs, and other help that you might need when getting a flat. It’s the kind of protection that stretches beyond state lines to provide you with the help you need to keep your car moving safely.

Schedule A Consultation Today

Insurance from Capretta Insurance Agency can help you stay safe when traveling far beyond Parma, OH to the great unknown beyond this great city. Even if you get a flat, your policy should provide you with help, especially if you have support from a roadside assistance policy plan.

Do You Need Commercial Insurance for Your Ohio Business?

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Our agents at the Capretta Insurance Agency serving the Parma, OH area want your business, which is your livelihood, to be adequately protected through a proper commercial insurance policy. You may be wondering, though, if you need commercial insurance for your Ohio business. Read on for more information.

Commercial Insurance Requirements in Ohio

There are two different types of commercial insurance policies that are required under Ohio State law. One of those is commercial auto liability insurance. If you use personal vehicles for business purposes or your business-owned vehicles, you will need to have a minimum amount of liability insurance on each one of those vehicles. This will help pay for any injuries or damage you or one of your employees may cause if an accident occurs while you are out and about.

The other type of commercial insurance that is required under Ohio law for business owners to have in place is a workers’ compensation policy. This type of policy will help pay the wages and medical bills of any employees who are injured while working on the job.

Other Commercial Insurance Options

There are several other commercial insurance options that you can choose from to protect your business.

Commercial General Liability Insurance

You will be very glad to have a commercial general liability insurance policy in place if a customer is injured while visiting your business. This type of policy can cover the person’s medical bills and even litigation for you if you have to deal with a lawsuit. This type of policy also helps pay for any property damage that is caused by your business.

Commercial Property Insurance

Commercial property insurance is another important piece of a commercial insurance policy that you should consider. This is because it will help protect your inventory and build back your business if a fire, an act of vandalism, or a natural disaster occurs. This can also help you replace inventory that is lost due to theft.

Consult With Us

To get your commercial insurance policy in place as soon as possible, contact our agents at the Capretta Insurance Agency serving the Parma, OH area today!

Understanding Home Insurance Deductibles: How to Choose the Right Amount

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The world of home insurance can sometimes feel like a maze, but one of its key components, the deductible, doesn’t have to be puzzling. In simple terms, a deductible is the amount a homeowner pays out-of-pocket for a claim before the insurance coverage kicks in. Capretta Insurance Agency, serving the greater Parma, OH region, wants to help you find the right deductible amount.

Balance Between Premiums and Deductibles

Typically, higher deductibles result in lower monthly premiums and vice versa. A higher deductible means you’re assuming more of the initial financial burden in a claim. If you’re comfortable with this risk and want to save on monthly costs, a higher deductible may suit you.

Assess Your Financial Comfort Zone

Before settling on a deductible, evaluate your financial situation. Could you comfortably cover the deductible amount in case of a claim? If a $1,000 deductible seems manageable, but $2,500 doesn’t, then it’s an indication of where your limit might be.

Consider Your Property’s Risk Factors

If your home is in an area prone to natural disasters, or if its value has significantly increased over the years, you might want a lower deductible. This means a slightly higher premium but quicker insurance assistance when needed.

Periodically Review and Adjust

Your financial situation, property value, and risk factors can change over time. Make it a practice to review and adjust your deductible every few years.

We Are Here To Help

Choosing the right deductible amount is about balancing current financial capabilities with potential future risks. By considering these factors carefully, you can select an amount that provides both peace of mind and financial sense. If you need help selecting a deductible, let the team at Capretta Insurance Agency in Parma, OH assist you. Call now to get started.

Whether You’re Single or Married, You Can Benefit from Life Insurance

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Are you waiting to get married or start a family to purchase life insurance? You don’t have to! Life insurance offers something for everyone, including singles. Whether you’re single or married, you can benefit from what a life insurance policy from Capretta Insurance Agency in Parma, OH has to offer.

Life Insurance Benefits

Financial Security

Financial security is one of the biggest benefits of life insurance. If you’re married and have a family, life insurance can replace your income to support your family if you were to suddenly pass on. The benefits from your policy can be used to meet daily needs, pay your monthly mortgage, feed, clothe, educate your children, and more. If you’re single, your benefits can be used to continue supporting aging parents or help younger siblings through college.

Debts

Life insurance benefits can be used to pay off private student loans that were co-signed by your parents or a mortgage taken out on a home. If you took out a loan to start a business with a friend, these benefits can be used to help cover your share of the loan after you’re gone, so the business can go on.

Funeral Expenses

If you’ve not made funeral arrangements in advance, life insurance benefits can help pay for these costs if you were to suddenly pass on. Your family wouldn’t have to bear the brunt of this expense on their own.

Inheritance

You can specify that your life insurance benefits be left as an inheritance to your spouse or a significant other or to be used for your children’s college to secure their future. You can have peace of mind knowing a loved one will be well cared for after you’re gone.

Schedule A Consultation Today!

To learn more about life insurance options and costs, contact Capretta Insurance Agency in Parma, OH.

Types of auto insurance coverage you can add to a basic policy

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Basic auto insurance is usually just liability coverage. That is fine for some people but not for everyone. At Capretta Insurance Agency in Parma, OH, we will help you to determine what type of auto coverage is right for you and what you should add to a basic policy. 

Auto Insurance Add-Ons

Collision

Collision coverage pays for repairs to your vehicle when you have been in an accident that you are responsible for. It also covers your vehicle if the damage is the result of a hit-and-run. A deductible must be paid for each accident. Your deductible is not a yearly figure. If your vehicle is totaled, you will be paid what the insurance company determines to be the value minus the deductible.

Comprehensive 

Comprehensive coverage is called noncollision coverage. It covers a variety of things that are not caused by a collision with another vehicle. It covers damage from weather events like hail, flood, high winds, fire, break-ins, and theft. Not, however, personal items stolen from your vehicle. Glass coverage is also included with comprehensive coverage. If you have full glass coverage, you are not required to pay the deductible. 

Rental car

Rental car coverage means that if your vehicle is damaged in an accident or by another event, other than a mechanical problem, you will be able to get a rental vehicle so that you are not without a vehicle for several days. 

Roadside service

Roadside service is exactly what it sounds like. In the event that you have a breakdown, a flat tire, or a vehicle that won’t start, you lock your keys in your car, you can call, and service will be provided to you to get you on your way. 

Reach Out To Us

Contact Capretta Insurance Agency in Parma, OH for all your auto insurance needs. Give our office a call or contact us through our website. 

How Does Commercial Insurance Help My Business?

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Commercial insurance is a way to save a company during unexpected events that can cause financial devastation. Businesses may face three primary problems: natural disasters, litigation, and accidents. In Parma, OH and all across the country, companies need protection that can help keep them in operation. Commercial insurance is a positive way to assist when any of the three most common problems arise.

Protection Against Natural Disasters

Hurricanes, tornados, fires, floods, and other of nature’s infamous furies can destroy the facilities of a business at any moment. Commercial insurance is there to help rebuild in times of nature taking direct hits on a company’s location. No one can predict the extent of the damage or if damages will occur, so it is always best to have commercial insurance as a Plan B. 

Assisting In Times of Litigation

Businesses are prone to lawsuits. In a world where people sue for almost anything, it is a good idea to have the coverage to pay if the company loses in a litigation dispute. Many companies can close their doors when hundreds of thousands of dollars to millions of dollars have to go to paying a lawsuit claim. Paying the premiums is much more feasible than a suit filed against the company. 

Payments for Accidents

Many states require businesses to have Workers’ Compensation as it pays for partially lost wages of the worker and all of their medical bills to help them get back to work. The company is responsible for the safety of its workers, and they are covered through this insurance paid by the employer.   

Contact Capretta Insurance Agency Today!

Here at Capretta Insurance Agency, we can assist you with your business getting commercial insurance in Parma, OH and the surrounding areas. Contact us today!

I hit my neighbor’s mailbox with my car. Will my homeowners insurance pay for the repairs?

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Many homeowners may be surprised by the number of things covered by homeowners’ insurance. Homeowners insurance covers a wide variety of areas associated with your home. The coverage provided by this type of insurance makes caring for and managing unexpected events associated with your home more financially manageable. Our team at Capretta Insurance Agency is committed to helping Parma, OH homeowners understand and explore the benefits of homeowners insurance.  

What is Homeowners Insurance?

Homeowners insurance provides financial protection for liability issues and claims, coverage for damage to your home, structures on your property, personal belongings, and assets. Also, coverage is provided for alternative housing and living expenses if you’re forced to leave your home for its repair or rebuild. This insurance covers a wide variety of different areas that may also be outside of your property.

If you have a shed, greenhouse, or any other structure on your property, your home insurance will include coverage for these structures as well. 

I hit my neighbor’s mailbox with my car. Will my home insurance pay for the repairs?

Yes. Your home insurance is designed to provide coverage for other people’s property that’s damaged as a result of your actions or actions caused by an animal or person on your property. This is the liability portion of your homeowners’ insurance policy.

Liability coverage provides compensation and coverage for property damage to injuries that you’re responsible for causing to others. Damaging your neighbor’s mailbox falls into this category. Your home insurance will likely pay for the repair or replacement of your neighbor’s neighbor’s mailbox.

Looking for Insurance in  Parma, OH?

If you have more questions regarding what’s covered by your home insurance, give us a call at Capretta Insurance Agency. We’d be happy to answer all of your questions. 

Term vs. Permanent Life Insurance: Which One is Right for You?

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When it comes to life insurance, the choice between term and permanent policies can be a tough one. Term life insurance is designed to provide protection for a specific period of time, while permanent life insurance offers lifelong protection. Understanding the differences between the two types of coverage can help you decide which type of policy best meets your needs. So, the team at Capretta Insurance Agency has put together a short, comprehensive guide to walk you through the different types of insurance.

Understanding Term Life Insurance

Whether you live in Parma, OH, or another part of the country, term life insurance is an affordable option that provides coverage for a set number of years—typically 10, 20, or 30 years. It pays out upon death if it occurs during the specified term but does not build up cash value over time as permanent policies do. This type of policy is ideal for those who want to protect their family’s financial future in case they pass away unexpectedly.

Pros and Cons of Term Life Insurance

The main advantage of term life insurance is that premiums are usually lower than they are for permanent policies, making them a more affordable option. However, the coverage ends once the specified term expires, and no cash-value benefits are associated with it.

Understanding Permanent Life Insurance

Permanent life insurance provides lifelong protection as long as you pay your premiums. This type of policy accumulates value over time, providing an additional financial benefit in addition to the death benefit payout upon death. It’s typically more expensive than term life but can be a good choice for those looking for lifetime protection or hoping to build wealth over time.

Pros and Cons of Permanent Life Insurance

The main advantage of permanent life insurance is that it provides lifelong coverage and can build cash value over time. This makes it a good option for those who want to leave money for their heirs or build a retirement fund. However, premiums for these policies are usually much higher than they are for term-life policies, so you’ll need to consider whether the extra cost is worth the added benefits.

Reach Out To Us

When deciding between term and permanent life insurance in Parma, OH, there are several factors to consider, such as how long you need coverage and how vital building wealth is to your financial plan. At Capretta Insurance Agency, we understand that every situation is different and will work with you to find a solution that fits your needs. Contact us today to get started!

Four Types Of Auto Insurance Coverage You Should Have

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When you’re looking at your options for auto insurance in Parma, OH, you should familiarize yourself with the different types of coverage. At Capretta Insurance Agency, we provide complete coverage for vehicle owners.

There are numerous types of coverage that you should include in your policy:

Liability Coverage

The most important type of auto insurance coverage to include in your policy is liability coverage. Liability insurance is mandated by law. It protects you from the costs of a lawsuit brought against you as a result of an automobile accident.

Collision Coverage

Liability coverage does not allow you to file a claim for repairs to your own vehicle following an accident.

Your policy must include collision coverage. Otherwise, you will have to pay for vehicle repairs out of pocket if they are not covered by the insurance policy of another motorist involved in the accident.

Comprehensive Coverage 

Comprehensive coverage compensates you for vehicle damage caused by causes other than a vehicle accident. Vandalism, animal collisions, and natural disasters are all covered under comprehensive coverage.

Uninsured and Underinsured Motorist Insurance

You can supplement your insurance by purchasing uninsured and underinsured motorist coverage.

This type of auto insurance provides you with additional coverage if you are in an accident with an uninsured or underinsured motorist. This type of coverage is essential because there are many uninsured drivers on the road.

Get Auto Insurance Today

Do you have questions about auto insurance coverage options in Parma, OH? We here at Capretta Insurance Agency have highly trained agents who are ready to help you find the right policy for your needs. Call today to learn about our auto insurance policy features.