How Auto Insurance Handles Claims for Totaled Vehicles

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When a vehicle in Sellersburg, IN, is involved in a severe accident, the insurance company assesses whether it is "totaled." A car is considered totaled when the repair cost exceeds its value, usually around 70% to 80%, though this varies by state and insurer. In this case, the insurance company decides it’s more economical to declare the car a total loss.

Payout Process for Totaled Vehicles

If your vehicle is declared a total loss, your auto insurance provider will offer a settlement based on the car’s actual cash value (ACV) just before the accident. The ACV is the vehicle’s market value, considering age, condition, mileage, and depreciation factors. The insurer will deduct any applicable deductibles from the payout. If you still owe money on a car loan, the insurance company will first pay the lender, and any remaining balance will go to you. If the payout does not cover the remaining loan balance, gap insurance, if you have it, can help cover the difference.

Keeping a Totaled Vehicle

If you choose to keep the car, the insurance company will pay you the ACV minus the salvage value—the estimated worth of the damaged vehicle. Once you decide to keep the vehicle, it’s often issued a salvage title, and it may be costly and difficult to insure or register it in the future.

Next Steps After a Total Loss

After receiving the settlement, discuss the options with your insurance agent. You can use the funds to purchase a new vehicle or pay off an existing car loan.

CXE Insurance Explains Everything Concerning Insurance

CXE Insurance is here to answer all your insurance questions. We serve Sellersburg, IN, and surrounding cities. Contact us today.

Commercial Insurance: Are Natural Disasters Covered?

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It’s common to assume that most commercial insurance policies automatically include natural disaster coverage. However, industry standards dictate that this is not typically the case. Instead, companies will need to add natural disaster coverage to their initial plan. The Sellersburg, IN area often experiences flooding and tornadoes. A representative at CXE Insurance can help discuss your options.

What Is Classified As a “Natural Disaster”?

A natural disaster is damage to a company’s property or infrastructure caused by natural and environmental causes. Insurance policies for natural disasters may not cover natural events that cause minimal damage, and damage caused by human actions also does not fall under natural disasters.

Types of Commercial Natural Disaster Policies

Natural disaster coverage is not a one-size-fits-all policy. The type of coverage a business will need primarily depends on its location. For example, a company located in California may want to consider getting earthquake and fire coverage instead of tornado coverage.

Here are the different types of natural disaster policies:

  • Hurricanes
  • Earthquakes
  • Floods
  • Tornadoes
  • Fires

Options for Comprehensive Natural Disaster Coverage

Though specific natural disasters are expected, sometimes opting for an all-inclusive type of coverage proves better. We often encounter companies that are not aware they can bundle different types of natural disaster coverage with various insurance types. It may sound a bit confusing, but we are here to clarify.

Types of bundled natural disaster insurance:

  • Catastrophe insurance
  • Special catastrophe insurance
  • Flood Insurance
  • Umbrella Insurance

Should Natural Disaster Coverage be Included in Commercial Insurance?

Most companies will greatly benefit from adding natural disaster coverage to their policy. It only takes one incident for businesses to suffer significant financial loss possibly. We at CXE Insurance understand that natural disaster coverage can be daunting. Our representatives are here to help. If you’re located in the Sellersburg, IN, area, call our professionals at CXE Insurance.

Worried About Summer Storms? How Home Insurance Can Help

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Summer storms can pose a host of challenges for homeowners. Concerns ranging from toppled trees to roof shingles damaged by hail, among other problems, are common with summer storms. If you’re a homeowner considering the impact of summer storms, rest assured that home insurance can provide valuable protection. At CXE Insurance, servicing Sellersburg, IN, we provide home insurance solutions that effectively guard your home against severe summer storms. Here’s how.

Home Insurance Offers Financial Protection

If your home sustains damage during a covered event, your home insurance policy can cover the costs to repair or replace the damages once the event has ended. Typical home insurance policies cover damages from windstorms and hail, enabling you to recover following a summer storm. If your home becomes uninhabitable due to the storm’s impact, many home insurance policies will cover your living expenses during the recovery and cleanup period.

Home Insurance Offers Peace of Mind

Knowing that your home insurance policy offers protection when needed can bring significant peace of mind. Home insurance can help you sleep better at night, ensuring your home’s financial safety is secure.

Preparing for Summer Storms

Summer storms are a fact of life! To prepare your home for these storms, revisit your home insurance coverage and understand what is covered. Update your policy if needed. Keep copies of your home insurance documents at hand and save your insurance agent’s number on your phone.

Have Questions About Home Insurance? Reach Out Today

If you have any questions about home insurance or wish to update your home insurance policy, get in touch with CXE Insurance, servicing Sellersburg, IN. Our insurance agents can help you update your home insurance policy or help you secure one if you don’t already have it.

How Life Insurance Can Help Your Loved Ones Move On

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At CXE Insurance, serving Sellersburg, IN, we understand that facing the thought of leaving your spouses, children, and other loved ones behind is never pleasant. However, avoiding and failing to prepare for it can result in an unintended, greatly impactful burden.

Losing a loved one is always challenging. The ones left behind need time to grieve and process their emotions. However, they are often burdened with significant financial duties demanding most of their time and attention.

This usually means the spouse has to work extra hours to replace the lost income, which may divert attention away from the children when they need it the most. In some cases, it may even lead to losing the family home and other assets, meaning not only have they lost a loved one but also their entire way of life.

While life insurance cannot bring back a loved one, it can greatly ease the impact of the loss in the following ways:

  • Replacing lost income without the need for extra work
  • Pay off a mortgage, auto loan, or other debt
  • Keeping the family home and the family business within the family
  • Paying off any debts or obligations left behind
  • Sending children to college or setting them up for their future

By lifting the financial burden, those left behind can take the much-needed time to grieve. While it’s essential for everyone, it can be particularly beneficial when young children are involved, as the other parent can be present for them during this extremely painful time.

Multiple types of life insurance are available to cater to a wide range of requirements. If you’re in Sellersburg, IN, or the surrounding areas, let our team at CXE Insurance help you find the best protection for your family. Call or visit us today.

Getting Auto Insurance for the First Time

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You’re an adult now! Go wherever you want! But you have to buy your own insurance! Boo!

Sorry, but part of being an adult means getting your own insurance. You’ll need to know what type of coverage you’ll need and how much it will cost. The price of this can fluctuate wildly, so you need to make sure that you’re getting the best deal. 

What You Need to Know

Liability coverage is required in just about every state in the Union. How much is your car worth? If you’ve got an old beater as a hand-me-down, you might not want to bother with comprehensive and collision insurance. However, it might be worth it if the parental units came through with some nice wheels as your graduation present. If you have a car loan, you will need more than just liability insurance. Before you even contact an insurance company, you’ll need to collect pertinent details on yourself and your vehicle. This includes your proof of address, driver’s license, and a copy of your vehicle registration. Make copies of those documents and have them with you when you contact an agent. Also, be prepared to tell them the make and model of your car, date purchased, miles driven, and info about your parent’s policy if you were on that. 

CXE Insurance Serving Sellersburg, IN

If you live in the Sellersburg, IN, area and need auto insurance, please contact CXE Insurance. Our knowledgeable and courteous agents will help you find the policy that best suits your needs. 

Three Types of Commercial Insurance Your Business May Need

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There are many types of commercial insurance, and the types you need depend on many factors. The kind of business you run, what you sell, how large your business is, what it owns, and where it’s located make a big difference in the policies you need to protect the business. To find out what type of commercial insurance your specific business needs, you can contact us at CXE Insurance in Sellersburg, IN.

Worker’s Compensation Insurance 

It’s important to protect both your business and your workers by having worker’s compensation insurance, generally known as worker’s comp. This policy will pay for an employee’s costs if they should get an injury at work or an illness related to work. These can include lost wages, medical bills, and legal bills. If you have employees, you need to have this in place to protect your business from these high costs. 

Property Liability Insurance

If your business owns a property where other people, such as customers, will be, you need this type of coverage. People can be injured in any number of ways. When it happens on your business’ property, your business is responsible for the many costs involved. This coverage is important for protecting your business from financial hardship. Injuries can happen literally anywhere, even if there’s nothing dangerous in the area. 

Commercial Auto Insurance

If your company owns a vehicle, you must have commercial insurance instead of a personal policy. A personal policy is unlikely to pay out if there is an accident involving a work vehicle, while a commercial policy ensures the vehicle is covered. 

Get Commercial Insurance

If your company needs commercial insurance, we can help. Contact us at CXE Insurance in Sellersburg, IN.

What Paperwork Do You Need to File a Home Insurance Claim?

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Indiana homeowners with good home insurance coverage can rest assured that they will receive compensation if their home is damaged by an unfortunate incident covered under the home insurance policy. However, there are several things you’ll need to do to file a claim to receive compensation.

Paperwork Needed to File a Home Insurance Claim in Indiana

In addition to filling out the claim form from your insurer, you’ll need the following documents:

  • A copy of your home insurance policy. 

  • Pictures showing the damage to your home. It’s best to take these from various angles or even film the damage so your insurer can understand what you need to fix or replace.

  • Receipts for damaged or lost property. For example, if you replaced your home’s heating system one year before it was damaged in a natural disaster, you’ll want the receipt to show your home insurance company how much your heating system is worth.

  • Receipts for temporary repairs. It will take time to process your insurance claim. If you need to do temporary repairs, keep the receipts so your insurance company can reimburse you after it has approved your claim.

Contact CXE Insurance for More Home Insurance Information

Every homeowner needs a reliable home insurance policy designed to meet his or her needs. CXE Insurance is a family-owned insurance company with a reputation for providing top-tier customer service and expert insurance assistance. We offer multiple policy options to meet the needs of homeowners in and around the Sellersburg, IN, area. Call us to find out more or to get a policy quote.

The Role of Life Insurance in Supporting First Responders and Essential Workers

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Life insurance is a vital support system for first responders and essential workers. It provides financial security and peace of mind for those who dedicate their lives to serving their communities in and around the Sellersburg, IN area. Life insurance is an excellent safety blanket for those who put their lives on the line daily. 

Protection Against Line-of-Duty Risks

First responders, including firefighters, police officers, paramedics, and emergency medical technicians (EMTs), face inherent risks and dangers. Life insurance policies tailored for first responders provide comprehensive coverage for accidental death or injury that occurs while on duty, ensuring that their families are financially protected in the event of tragedy. 

Support for Mental Health and Wellness

The demands of their professions can affect the mental and emotional well-being of first responders and essential workers. Life insurance policies often include benefits and resources to support mental health and wellness, such as access to counseling services, stress management programs, and mental health awareness initiatives. By prioritizing the mental health needs of these individuals, life insurance providers demonstrate their commitment to supporting the overall well-being of first responders and essential workers.

Recognition and Appreciation

Life insurance companies recognize first responders’ and essential workers’ sacrifices and contributions by offering specialized insurance products and benefits tailored to their unique needs. These may include premium discounts, enhanced coverage options, and dedicated customer service support for those in high-risk professions. By providing recognition and appreciation for their service, life insurance companies acknowledge the invaluable role that first responders and essential workers play in society and demonstrate their commitment to supporting their financial security and well-being.

How CXE Insurance Can Help You

At CXE Insurance, we can help answer questions concerning life insurance. We serve the Sellersburg, IN, area. Call us today.   

What To Do If Your Vehicle Is Vandalized

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Your vehicle is at risk of being vandalized if parked in an open area. Use the steps below if your vehicle is vandalized. Then, ensure that your vehicle is equipped with the proper insurance coverage.

Supporting Details

Photographs and a police report will support your insurance claim. Once you realize your vehicle has been vandalized, contact a local police officer.

The officer will be dispatched to the location of your vehicle. They will assess the damage to your car. Then, they will prepare a report of their findings. Pictures of the vandalism will be taken. This information should be submitted when you file an insurance claim.

Claims Form

An insurance claims form will need to be filled out. This form should be prepared at your earliest convenience. The form will require some information about the damage to your vehicle. You will need to sign the form before it is filed. 

Adjuster Inspection

An insurance adjuster will inspect your vehicle. They will need to determine if your insurance policy will cover the damage. The adjuster’s findings will be reported to your insurance agency.

Once your vandalism claim is processed, you will be able to have your vehicle repaired. The repair process may include having your vehicle repainted. You can seek the needed services by scheduling an appointment with a certified mechanic.

Contact CXE Insurance

You do not need to go through a vandalism crime alone. Consult with one of our CXE Insurance agents for assistance with filing your vandalism insurance claim. An agent who serves Sellersburg, IN, will help you fill out the insurance paperwork that needs to be filed.

Is commercial insurance required to do business with the public?

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CXE Insurance takes great pride in its ability to help residents in the Sellersburg, IN area by providing them with commercial insurance coverage. Our agents understand the importance of offering customers peace of mind. By thoroughly assessing each client’s specific needs and risks, CXE Insurance ensures they are well-prepared for any unforeseen circumstances.

Commercial Insurance

In Indiana, commercial insurance is not legally required for public business. However, it is worth mentioning that certain types of companies may be subject to specific insurance requirements. For example, you must have commercial auto insurance if you are operating a motor vehicle for business. 

Additionally, if you have employees, you’ll need workers’ compensation insurance to protect your employees and your business in case of work-related injuries. While not mandatory, obtaining commercial general liability insurance is highly recommended as it covers bodily injury, property damage, and personal injury claims that may arise during business. 

Although commercial insurance may not be legally mandatory for all businesses, it is crucial to assess your specific industry and evaluate the risks involved to ensure adequate protection for your business and customers alike. If you need commercial insurance for your business, our knowledgeable team can help you find the right policies to protect you. 

Find Out More Today

At CXE Insurance, we take great pride in serving the residents of Sellersburg, IN by assisting with their commercial insurance needs. With our professional expertise and extensive insurance industry knowledge, we strive to provide our customers with the highest quality insurance options. Our dedicated team understands businesses’ unique challenges in the Sellersburg, IN area. Call or stop by to speak to us today and get the coverage you need to feel secure. 

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