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Golden Way Insurance Services, Inc.

10092 Chapman Ave # 2
Garden Grove, CA 92840

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What You Don’t Know About Your Auto Insurance Policy

Many people don’t understand their home insurance rate and struggle to grasp various information that they just have no way of knowing without help. As a result, we at Golden Way Insurance Services do what we can to help our Garden Grove, CA, residents feel comfortable in their homes.

What Reports Affect Your Insurance Rate 

Your agent uses a variety of credit reports to create your insurance rate for your vehicle. They also look at motor vehicle records and even past credit claims to get an idea of what kind of policy that they can set for your needs as a car owner. 

Which Tickets Affect Your Insurance Rates 

Have you ever been confused about what tickets cause you to get an insurance hike? Typically, this happens if the points added to your license reach a threshold set by the insurance company. At this point, they will increase your policy costs and keep it that way for some time. 

How Long Tickets Stay on Your Record 

Are you unsure of how long you’ll have to deal with tickets on your record? You aren’t alone. This problem is something that will stay on your record between 3-7 years. And these tickets can impact the quality of your insurance and cause other complications at the same time. 

When Your Car is a Total Loss 

While some crashes may seem minor, you might end up getting your vehicle totaled and struggling to understand why. This situation usually occurs if the value of the repairs exceeds what the insurance company is willing to pay. 

Learn More About Your Policy 

If you’re concerned about your car insurance policy and feel uncomfortable, please make sure to call us at Golden Way Insurance Services right away to learn more. Our team serves the Garden Grove, CA, area and can provide you with the help you need. 

Reasons Whole Life is Better Than Term Life Insurance

There are two types of life insurance policies available – whole life and term life. Each one differs in what it offers and how long coverage lasts, and understanding the differences helps Garden Grove, CA residents choose the best policy for them. If you struggle with determining between the two policies, keep reading to learn why whole life is the better option. Then, give Golden Way Insurance Services experts a call to discuss your life insurance options and determine which policy is best for your and your family’s needs. 

Is Whole Life Insurance Better Than Term Life Insurance? 

There are things to consider before purchasing a whole life insurance policy over a term life insurance policy. Term life insurance covers you for a certain period, and then coverage ends. Whole life insurance protects you your entire life and has cash value, where term life does not. 

Is Term Life Insurance Better Than Whole Life Insurance? 

Term life insurance provides a more affordable life insurance option. This policy is a good choice when wanting to protect your family should you pass early. Term life insurance policies are easy to get and can be set up quickly. These policies only last for a specific time, with the most popular policies being 15 and 20-year terms. 

So How Do I Choose Between Term Life Insurance and Whole Life Insurance? 

To choose between the two life insurance options, you must consider several things, including your age, overall health, and financial obligations left for your family to pay. Additionally, if you choose term life insurance first, you risk paying higher costs for whole life insurance when you are older. 

It is essential to speak with your insurance agent about life insurance coverage options available in Garden Grove, CA. The Golden Way Insurance Services experts can help provide the information you need to make the best life insurance purchase for your needs. 

2 Home Insurance Policy Options Every Home Owner Needs To Know

Home insurance policies are intended to give you peace of mind in case something goes wrong with your house. No doubt you made sure you had home insurance when you bought the house. But, many homeowners don’t fully understand what exactly is covered and what is not.

The knowledgeable experts at Golden Way Insurance Services want to make sure homeowners in Garden Grove, CA have the coverage they need including understanding the importance of having gap insurance. So, what exactly is gap insurance. And, why is it so important to have?

Many homeowners are under the assumption that their policy will cover all the costs to rebuild in case of damage or destruction. That’s unfortunately not always the case, and this is where gap insurance steps in and is extremely important to have. Simply put, gap insurance steps in to fill in any cost gap in coverage.

There are a couple of gap coverage options every homeowner needs to know when looking to purchase home insurance. Here are two important options with potential scenarios to consider.

  1. Extended dwelling coverage – The costs needed to reconstruct a house is different than the market value of the home. Extended dwelling coverage steps in to help cover the construction costs when they are more than the policy limits in place.
  2. Building Ordinance or Law Coverage – When rebuilding after loss or damage, you will be required to follow the current building codes which have most likely become more strict over the years since you bought the house. If you have a building ordinance or law policy, you will be compensated for the difference.

Contact Golden Way Insurance Services servicing Garden Grove, CA to make sure you have the policy options you need.

Do You Have Enough Auto Insurance?

Considering the vast number of auto insurance coverages available, determining the exact amount of auto insurance you require can be tough. Although almost all the states have minimum auto insurance, the requirements are much less than what you’d need. 

To answer the question “How much auto insurance do you need?” Golden Way Insurance Services in Garden Grove, CA, have broken down the various car insurance coverages and the minimum amount you should have for each. 

Liability coverage

This insurance coverage shields you when your vehicle crushes someone accidentally. It helps you meet other people’s medical bills and property damage without emptying your pocket or borrowing debts. But how much of it do you need? 

While California has a minimum amount, this isn’t adequate. Most financial experts advise that you should have $100,000/$300,000. However, if this isn’t adequate for you, consider umbrella insurance.

Personal injury protection (PIP)

This covers treatment costs for passengers as well as the driver. In some other cases, PIP insurance will also include lost wages due to injuries. To determine the coverage you need, ask how much it would cost to treat your injuries? Do you have health insurance? Answers to these questions determine how much coverage you need. 

Comprehensive and collision coverage

Collision coverage covers your vehicle when it sustains physical damages in a collision. However, when your car is damaged due to other reasons besides crashes, your comprehensive insurance cover comes to your rescue. But how much of these coverages should you buy?

The amount of coverage you purchase should be adequate to replace your vehicle when a total loss occurs.

The bottom line

Figuring how much motor vehicle insurance coverage you need can be a huge task. If you cannot figure out this on your own, consider consulting with Golden Way Insurance Services in Garden Grove, CA.

5 Benefits of Life Insurance

Today, many people appreciate the need to have a life insurance policy. With life uncertainties increasing by the day, every family needs a sound financial plan. While no one wants to think about death, for the sake of your loved ones, you ought to. Think about the financial position you will leave your loved ones if death came knocking now.

At Golden Way Insurance Services of Garden Grove, CA, we understand that life insurance is essential. In light of this, we have broken down the benefits you accrue when you invest in life insurance.

Peace of mind

No one knows the time of death, but one thing for sure is that death will happen eventually. Yes, money cannot replace a person, but it gives protection when such uncertainties occur. With life insurance, the thought of who will take care of your family when you die becomes a thing of the past. 

Protection of your loved ones

Life insurance is an essential asset as an heir to your dependents. It will set them to a solid financial future and provide any monetary assistance as the need come. Life insurance replaces your income when you die, helping your loved ones meet their financial obligations.

Pay your debts, including final expenses

Life insurance pays for your mortgage, credit card, car loan, and other debts if you die. This way, you don’t have to burden your cosigners and loved ones with unpaid loan liabilities. Besides, life insurance pays for funeral costs, which could cost thousands of dollars. 

Protects your business

Most people have no idea that life insurance can protect their business in the event they die. Life insurance cushions your business partners and employees by providing finances to keep the business running in your absence.

Support your retirement plan

Everybody desires to have a good retirement. Thankfully, life insurance can help you build up a cash value that can become a source of income when you retire. 

Life insurance in California

If you had underestimated the importance of life insurance, think about your loved ones, business, and debts. If you are in Garden Grove, CA, please talk to Golden Way Insurance Service today. We will help you secure your financial interests. 

Understand Your Homeowners Insurance Needs

If you have bought a home or rented a property in Garden Grove, CA, you need to understand your homeowner insurance. According to Golden Way Insurance Services, many people ignore this policy only for them to face some severe challenges when it comes to compensation. Here are some essential homeowners insurance needs that you should understand. 

Understand What is Covered

Some people do not know what is actually covered by the homeowner’s insurance policy. However, just like any insurance policy, homeowner insurance does not cover everything. There are very many aspects that are specifically excluded. You must understand what has been excluded so that you can have additional coverage for such uncertainties that have been specifically excluded. 

Understand What is Not Covered

When it comes to homeowners insurance, it is essential to indicate that the policy covers all the exterior walls and anything inside the building. However, some homeowner’s insurance policies are particular on what should be covered inside the house. As such, you need to understand what items are not covered so that you can negotiate with your insurance company for coverage. 

Understand the Need for Disclosure

Homeowners’ insurance operates based on good faith, which means that you have to disclose everything inside your house so that the insurance company can professionally assess the risks and the premiums you are supposed to pay. If you do not disclose all the necessary details, you might experience some challenges when looking for compensation on items you had not disclosed.

Golden Way Insurance Services helps families looking for homeowners insurance in Garden Grove, CA. You can contact us today for professional assistance and guidance on choosing reliable homeowners insurance. 

Important Things to Know About Getting California Auto Insurance

As you prepare to relocate to Garden Grove, CA, one important aspect that you need to get familiar with is the auto insurance laws in this state. California is known for having notorious auto insurance rules and regulations that you must always know before getting on the wrong side of the law. However, with Golden Way Insurance Services, it will be easier for you to have every detail at your fingertip, thereby avoiding some penalties. 

You Can Get Deductible Waiver

You can get a deductible waiver for your auto insurance coverage in California when you carry collision coverage on your car. This is a significant insurance loophole that you can always exploit to your advantage. With this waiver, your insurance company will be responsible for paying the collision deductible in case you are involved in an accident with an uninsured driver, which will save you thousands of dollars. 

You Can Get a Good Driver Discount

If you know you’re a good driver and relocating to California, you should be happy because you could get a discount. California’s laws stipulate that you should get 20% discounts on premiums if you consistently prove that you’re a good driver. Some of the essential aspects you need to incorporate include having a license in the United States for more than eighteen months. 

Good Student Discounts

As a young driver in California, there is a higher chance that you will qualify for good student discounts. However, to be eligible for such discounts, you need to have less than eight years of driving experience. Besides having less than eight years of driving experience, you need to prove that you are currently enrolled in a full-time academic program.

There is no doubt that there are some strict insurance laws in California. However, as a good driver, relocating to Garden Grove, CA could bring some benefits. Golden Way Insurance Services will guide you through the entire process of getting auto insurance in California to access the above benefits. 

Tips that Garden Grove CA residents need to know before buying life insurance.

If you are a Garden Grove, CA resident, it’s pivotal to consider your needs and comprehend the different types of life insurance policies available. Regrettably, many residents spend a colossal amount of money on life insurance policies, knowing very little about what they entail and their benefits. Contact us at Golden Way Insurance Services located in Garden Grove, CA. Our charismatic agents will guide you to make informed decisions to understand both benefits and risks involved with a life insurance policy.

Purchasing a life insurance policy is a crucial decision for you and your family. Acquiring the right life insurance policy in Garden Grove, CA is determined by factors such as:

  • Marital status.
  • Future education needs.
  • Several dependents.
  • Current assets.
  • Debt obligations.
  • Anticipated family income.

The ultimate decision you can make as a Garden Grove, CA resident is to ensure that you have adequately insured and made sure that you have budgeted for unexpected uncertainties in life. Acquiring a salient life insurance policy at Golden Way Insurance Services will ensure that your family and loved ones are not left in financial turmoil upon your untimely demise.

Tips to consider before buying a life insurance policy in California

Assess and evaluate your insurance needs.

It’s vital to establish your contributions to the family income and dependents depending on you financially. Find out if there is anything that your family can rely on to meet expenses after your unexpected demise.

Compare insurance policies

Conduct a comparison between the two basic types of insurance policies, namely:

  • Whole life insurance policy.
  • Term life insurance policy.

Your ultimate choice of a life insurance policy depends on your prevailing needs, both immediate and future.

Choose affordable coverage.

Before purchasing a life insurance policy, it’s prudent to conduct an insurance policy check to ascertain if you can pay premiums promptly for the entire policy term. Establish how much it will cost you in terms of annual premiums.

Evaluate the future of insurance policy.

With the aid of your insurance agent, understand the finer details of your policy. Establish the inclusions and exclusions events as this is critical to you and your dependents when the moment of truth strikes.

Evaluate the claim settlement history of your insurer.

Assess the claims’ payment ratio of your insurance company. This establishment will assist you in knowing if your insurance company will pay the death benefits as promised.

Contact us or visit our offices at Golden Way Insurance Services offices in Garden Grove, CA for detailed information about a life insurance policy.

Should I get home insurance in California?

If you are in the Garden Grove, CA area, there will be a lot of different forms of insurance that you may need. Any property owner in this area of the state needs to ensure that they get proper insurance coverage for their home. There are a few important reasons why the typical property owner needs to get a home insurance plan. 

Insurance is a Requirement

A lot of people here need to get a home insurance plan because it is a requirement. If you are going to buy a home, you will likely be required by a mortgage lender to carry home coverage until the loan is repaid. Additionally, those who live in a community governed by a home association will also likely have home insurance obligations that need to be met. 

Insurance Offers Important Coverage

Even if you do not have insurance requirements, getting this protection is still a good idea. When you own a property, your home insurance plan can offer precious insurance coverage to ensure you can repair your home if it is damaged. Additionally, the plan will give some valuable coverage for liability risks and can offer protection for your personal assets. 

Those who will purchase a home in the Garden Grove, CA area clearly need to get proper insurance for it. As you are shopping for a new plan here, Golden Way Insurance Services is a great resource to contact. Picking the right plan is very important, and Golden Way Insurance Services can help you assess all of your needs and options. This will help ensure that you get properly covered with a plan that also offers you peace of mind. 

Importance of Auto Insurance in California

Driving is a practical, convenient way to get where you need to go. At the same time, it poses the risk of accidents on the road. With auto insurance from Golden Way Insurance Services, you can worry less about accidents and enjoy driving to the full. Auto coverage will protect you against accidental injuries, property damage, breakdowns, liability issues, and more. Here’s why auto insurance is so important in Garden Grove, CA.

Protection for Your Vehicle

Accidents happen, even to experienced, careful drivers. A serious accident can cause extensive damage to your car, leaving you with thousands of dollars’ worth of repair costs. Collision insurance helps cover the cost of repairing your vehicle if it’s damaged in a collision. Uninsured motorist coverage protects your vehicle against uninsured motorists and hit and runs drivers. Collision and uninsured motorist insurance isn’t required in California. However, it offers valuable protection for your car.

Protection against Liability Claims

Auto liability insurance protects your financial assets by paying for others’ injuries or property damage in accidents you cause. Depending on the severity of the accident, this coverage could save you from extensive financial loss. If you are sued for damages, liability coverage helps cover your legal costs and settlement, up to the limits of your policy. Minimum liability insurance is mandatory in California. For optimal protection, however, you’d do well to purchase more than the minimum coverage.

Protection against Breakdowns

Cars have a way of faltering when you least expect them. Whether you experience car problems in Garden Grove, CA, or far from home, roadside assistance coverage will cover the cost of towing your vehicle to a repair shop, so you’re not left stranded on the road.

To purchase the auto insurance, you need in California and beyond, call or visit Golden Way Insurance Services.

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