Lana Insurance Center Inc

1259 South Broad St
Wallingford, CT 06492

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Who Needs Umbrella Insurance?

Most people think that if they have insurance, they are protected from any legal issues that might come up. However, what many people don’t know is that there are different types of insurance policies, and each one has its own specific purpose. One type of policy that is often overlooked is umbrella insurance. Consult with Lana Insurance Center Inc. in Wallingford, CT is here to provide a guide. 

Umbrella Insurance: What You Need To Know

Umbrella insurance is a policy that provides extra coverage for incidents that fall outside the scope of your other policies. So, who should get umbrella insurance? How does it work? What are the benefits? And how much does it cost? 

First of all, it is important to understand that umbrella insurance is not intended to replace your other insurance policies – rather, it is meant to be an extra layer of coverage for those rare situations. For example, if you are involved in a car accident and are sued for property damage or bodily injury, your regular auto insurance policy will typically cover you up to a certain limit. However, if the damages from the accident exceed that limit, you could be held legally responsible for covering the difference. This is where umbrella insurance comes in – it provides an extra layer of protection if you are ever sued and your other policies cannot cover all of the damages.

There is no one-size-fits-all answer to who should get umbrella insurance, as the decision of whether or not to purchase umbrella insurance depends on a variety of individual factors. However, in general, it is probably a good idea for people who have significant assets or net worth to purchase an umbrella insurance policy. 

Get The Right Coverage Today

If you have any questions about your policies or are interested in exploring umbrella insurance, call Lana Insurance Center Inc. We serve the Wallingford, CT area.

Is Renters Insurance Mandatory?

Renter’s insurance is not mandatory in the greater Wallingford, CT region. However, landlords are increasingly requiring this vital coverage for tenants.

Why You Should Consider Renter’s Insurance

Renter’s insurance isn’t mandatory in Connecticut, but you should get it anyway.

  1. Your landlord’s property insurance doesn’t cover your belongings. If something happens to the property like a fire, renter’s insurance helps you recover from the loss.
  2. Renter’s insurance is affordable. Since it doesn’t cover the physical structure, only your personal property, your premiums are relatively low.
  3. Renter’s insurance covers you if a guest is injured in your home.

Three Common Types of Renters Insurance

Renter’s insurance typically includes three primary types of coverage. These include:

  • Liability – Covers you if a visitor is injured in your home.
  • Personal Property – Covers the things you own within the home.
  • Additional Living Expenses – Covers the reasonable expenses related to being temporarily displaced from your home due to a covered claim.

These do not cover certain specialty items you might own like collectibles, firearms, and jewelry. They also don’t cover your personal medical bills should disaster strike. You can buy riders and coverages to ensure you are fully protected. Lana Insurance Center Inc. has our friendly staff ready to answer your questions about special coverages to ensure you are properly protected.

Disaster Ready

It’s important to note that the renter’s insurance doesn’t cover flooding damage. If you live in a flood-prone area, you will want to consider having additional flood insurance which can be obtained from the National Flood Insurance Program.

Contact Us Today

When you are ready to protect your investments, call or stop by Lana Insurance Center Inc in Wallingford, CT. Our staff is ready to offer clear answers to all your insurance questions.

Do I Need Motorcycle Insurance in CT?

As a motorcycle owner, you know that having insurance is essential. But do you need motorcycle insurance in Wallingford, CT? The answer is yes.

Here’s why:

It’s the Law

Motorcycle insurance is required by law in Connecticut. Motorcycle insurance protects you financially if you are involved in an accident. It can help pay for your medical bills, damage to your motorcycle, and other expenses. If caught riding without insurance, you could be fined or have your license suspended.

Without motorcycle insurance, you are taking a risk. An accident could leave you with a hefty bill you would be responsible for paying. Your credit score could be affected if you can’t pay the bill. Contact Lana Insurance Center Inc. in Wallingford, CT to get a quote for motorcycle insurance. We can help you find the right coverage for your needs.

Loans May Require One

If you are financing your motorcycle, your lender will require you to have insurance. This is to protect their investment in case you are in an accident. If you don’t have insurance and are in an accident, the lender could require you to immediately pay the entire loan off.

You May Need More Than the Minimum

The minimum motorcycle insurance required in Connecticut is $20,000 for bodily injury per person, $40,000 for bodily injury per accident, and $10,000 for property damage. However, this may not be enough coverage if you are in a severe accident. You could be responsible for paying any costs exceeding your policy’s limits.

Get Coverage For Your Vehicle Today

An experienced motorcycle accident lawyer can help you understand your coverage and what to do if you are in an accident. Contact Lana Insurance Center Inc. for a free consultation if you have been injured in a motorcycle accident.

Medicare Insurance FAQs

When you reach the age where you are eligible for Medicare, you have choices. Many myths exist about advantage plans and what they do and do not cover. You may not realize all the ramifications of your decisions. At Lana Insurance Center Inc. in Wallingford, CT, we are here to help guide you and to answer your questions about the choices you must make when it comes to your Medicare coverage. 

Medicare Insurance FAQs

What is a Medicare Advantage Plan?

A Medicare Advantage Plan is coverage provided by private insurance companies that covers the same things that Medicare covers. The advantage is that many of the plans include your prescription coverage. You may also get lots of other benefits, including membership in a gym, dental coverage, OTC money to spend, and more. Some cost no more than your Medicare payment, others have a monthly fee. 

What does Medicare Supplement (Medigap) pay?

Medicare doesn’t cover 100% of medical care. Medigap insurance helps to fill in the gap between what Medicare pays and what is actually charged. Private insurance companies provide coverage. 

What do I need to know about Medicare Part D (prescription plans)? 

Traditional Medicare doesn’t have prescription coverage, you have to buy it separately. You may not be aware that you are required to have a prescription plan once you become eligible for Medicare. If you have creditable prescription coverage from another source, you may be able to avoid the penalty you are required to pay for not having it. Keep records of your other coverage to prove you had it. The penalty will be added to your Medicare prescription coverage once you do get it and it will never go away, ever. Since it is a percentage, if the premium goes up, so does your penalty. 

Give Us A Call

Contact Lana Insurance Center Inc. in Wallingford, CT to discuss what options you need to consider when it comes to Medicare insurance. 

I Have A Life Insurance Policy Through My Job. Do I Need To Buy Another One?

Many people have life insurance policies through their jobs. This is a great way to get coverage since it is usually cheaper than buying a policy on your own. But is this the only policy you need? Probably not. In most cases, having two life insurance policies is better than having just one.

Here are some reasons why:

Your Work Policy May Not Be Enough

The policy that your employer provides is probably not enough to cover all of your expenses if you die. Most work policies only pay out a few hundred thousand dollars, which may not be enough to cover things like your mortgage, college tuition for your children, or other debts and final expenses.

You May Not Be Covered If You Leave Your Job

If you leave your job, your life insurance policy will usually go with you. But there are some exceptions. For example, if you retire or are fired, you may not be able to keep your policy. So it’s vital to have a second policy that is not through your employer in case you lose your first one. Talk to Lana Insurance Center Inc. in Wallingford, CT to understand more about getting additional insurance in case you lose your job.

You May Want Different Types of Coverage

Employer-provided life insurance policies are usually "term life" policies. This means they only provide coverage for a certain period, such as five or ten years. But you may want a "whole life" policy, which provides coverage for your entire life. Or you may want a "universal life" policy, a type of whole life policy with more flexibility. So if you want different types of coverage, you may need to purchase more than one policy.

Contact Us Today

As you can see, there are many good reasons to have two life insurance policies. If you have a policy through your job, that’s great. But don’t stop there. Get a second policy from Lana Insurance Center Inc. in Wallingford, CT to ensure you and your family are fully protected.

Why You Need Condo Insurance

When you own a condo, you have a home that is yours for as long as you want to keep it. It’s important to cover that investment with a condo insurance policy. This type of policy covers you in a number of ways all in one insurance policy. When you have a condo and aren’t insured, call us at Lana Insurance Center Inc. in Wallingford, CT to help you get started. 

Why You Need Condo Insurance

Protection for Your Condo

Your condo is likely your largest investment, and it needs to be protected with an insurance policy. Your condo insurance will cover the condo itself with enough protection to pay for large repairs, or even rebuilding if it’s needed. When you have this insurance and a covered incident happens that damages your condo, the policy pays for the necessary repairs. This is vital coverage to have with the high cost of repairs. 

Protection for Your Belongings

It’s important to have this coverage because it protects your possessions as well. When you have this coverage, it can pay for your possessions that are lost in a damaging incident. Issues like disasters and accidents can happen, and they can ruin your belongings. When you have a damaging incident occur, you could be left with nothing if you don’t have this coverage in place. 

Liability Protection

Condo insurance also gives you an amount in liability coverage. This protects you in case someone comes into your condo and has an accident with injuries there. This coverage pays for the expenses of this person, including lost wages and medical bills. It’s always smart to have this coverage in place so that you don’t have to face paying for these expenses by yourself. 

Get Your Condo Insurance

If you own a condo, it should be protected. To get started, call us at Lana Insurance Center Inc. serving the greater Wallingford, CT community. 

Will auto insurance cover property damage to my own home?

Auto insurance provides drivers with many different benefits. From liability coverage to coverage for damage to your own car, auto insurance is a wise investment. Even if you opt to purchase the state minimum auto insurance coverage, and nothing more, you have many benefits and protections.

As with anything, however, there are a few areas where your auto insurance wouldn’t provide any coverage. Our team at Lana Insurance Center Inc. in Wallingford, CT understands that drivers often have a lot of questions when it comes to what’s covered under their auto insurance policy. We’re here to eliminate the confusion. 

What’s Covered Under a Standard Connecticut Auto Insurance Policy?

If you plan on legally driving within the state of Connecticut, you are required to carry auto insurance. In order to meet the state’s minimum auto insurance requirements, you must carry bodily injury liability at $25K per person and $50K per accident. By state law, you must also purchase property damage liability coverage at $25K per accident. These are the state minimum auto insurance coverage requirements, which means you can always purchase more than the minimum. You can also purchase auto insurance that will provide medical coverage as well as pay for damage to your own car.

What’s Missing?

You may not notice that there’s no provision or coverage for damage you may cause to your own property while driving. If you’re a homeowner, you may have coverage for damage to your own property under your homeowner’s insurance. However, if you don’t own a home, or don’t have homeowners insurance, you may find yourself without coverage for this type of accident. Auto insurance policies typically don’t include coverage for damage to your own property. As a result, it may be a good idea to speak with a member of our team from Lana Insurance Center Inc. in Wallingford, CT.

One of our team members can help you determine the best insurance coverage for property damage. Give us a call. We’re standing by.

When Should You Review Your Home Insurance?

Your property value will change over time, especially as you make improvements. Although your home insurance policy provided the necessary coverage when you first got it, it doesn’t mean that it still does. Because your home insurance needs to change as your house changes, you should review your coverage to ensure it is on track. Lana Insurance Center Inc., serving Wallingford, CT, shares a few instances when you should review your home insurance.

When Should You Review Your Home Insurance?

Remodels

You can add value to your property when you undergo significant remodeling projects. This is particularly true if your focus is in the kitchen or bathroom. In the event that the remodel causes your market value to increase, your existing home insurance policy may not be adequate any longer. It is important to review your policy after remodeling to ensure you are covered in the event of a disaster.

Safety Improvements

When you make security improvements to your home that can protect accidents from occurring, you will usually immediately reduce the insurance company’s risk. These improvements can be anything from flame-resistant roofing materials to a security system. When safety and/or security improvements are made, it is important to speak to your insurance agent, as there may be savings in store for you. 

Swimming Pool Installation

If you decide to add a swimming pool, trampoline, or other potential hazards, you should speak to your insurer beforehand. Although these items can be incredibly fun, they also increase the risk of an injury to occur. More often than not, an increase in your home insurance coverage will be needed to ensure you are properly covered.

If you have decided it is time to review your home insurance policy, speak to Lana Insurance Center Inc., serving Wallingford, CT.

Commercial Insurance Policy Breakdown

Lana Insurance Center Inc. was built on reliability and trust. We strive to treat our clients like family by ensuring they find the coverage they deserve. We offer flexible policy options to protect our clients when life throws unexpected situations their way. We look forward to assisting you.

Commercial Insurance Policy Breakdown

Commercial insurance is an asset for business owners. You have to deal with different tasks every day. While you face these different challenges, you also have to navigate the possibility that you can be sued at any moment. Commercial insurance covers your property if you are the victim of an accidental fire or if a natural disaster moves into the area and causes damage. Commercial insurance also covers your inventory if it’s stolen or damaged. Liability coverage is a major part of your policy. You are covered if a customer enters your business and suffers an injury. You are also covered if one of your products causes property damage. The policy will assist with any necessary medical treatment and repairs. If your business suffers extensive damage, interruption coverage can assist you. This type of coverage allows you to continue operating your business while your property is repaired.

Workers’ compensation helps you take care of your employees. You are covered if your employees are injured in the workplace. The policy covers their treatment and rehabilitation. This is a great way for you to attract the best talent available by showing that you treat your workforce with respect. If your business evolves in the future, you can add extra coverage such as cyber liability insurance and errors& omissions insurance.

Lana Insurance Center Inc. Will Help You Protect Your Assets

Contact our office to learn more information about commercial insurance and how you can get a quote.

Do You Qualify for Medicare Insurance?

At Lana Insurance Center Inc., we work with a broad range of different people. For example, many of our clients need or have Medicare coverage to help with their health needs. But do you qualify for this type of protection or not? It is important to fully understand this factor to ensure that you get the high-quality and enjoyable policy that you need to avoid complications. 

Qualifications for Medicare 

  • You receive retirement benefits from Social Security or Railroad Retirement Board benefits 
  • You or your partner worked for a Medicare government employer and paid Medicare taxes
  • You are 65 years or older and did not pay for Medicare taxes (see the second point here) 

Before assuming that you fall under Part A coverage, it is important to talk to your agent to learn more. Many people qualify for Part A and don’t have to pay premiums if they need kidney dialysis, receive a kidney transplant, or are entitled to Social Security benefits or Railroad Retirement disability help for 24 months. In this situation, you do not pay premiums but can instead get your coverage for free due to economic or health problems. 

By comparison, you will have to pay a premium if you qualify for Part B, which many people do. Don’t worry: you don’t have to pay these premiums out of your pocket in many cases. The premium is often taken from a Social Security, Civil Service Retirement, or Railroad Retirement Board check. Don’t receive these payments? Then, you do need to pay your premiums. 

Learning More About Your Coverage 

If you’re not certain if you qualify for Medicare, it is important to talk to someone who can help you. This insurance coverage could help to improve your overall quality of life if used properly. Call us at Lana Insurance Center Inc. to learn more about whether or not you qualify for this protection.

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