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Lifetime Investments, LLC

5555 E. Evergreen Street
Mesa, AZ 85205

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Three Liabilities Businesses Must Plan For

Starting a small business comes with many challenges. Securing funding, hiring the right employees, managing your time as an owner and an operator. But one of the biggest things your business must be protected against is liabilities. Here are three liabilities that Lifetime Investments, serving Mesa, AZ think you should be aware of.

Injury Liability

If you are running a retail or restaurant establishment, or any kind of business that has customers coming into a location, injury liability is extremely important. The oft-cited case, where the woman burned herself with a cup of McDonald’s coffee is the prime example. This ended up costing the company millions of dollars. While McDonald’s can afford a loss like that, most likely you wouldn’t be able to survive this. Injury lawsuits are a liability that must be insured against.

Libel and Slander

Another liability is slander and libel. The lawsuits are very common in service-based businesses. As an owner, you have to believe that your customers are interacting with you in good faith, but this isn’t always the case. A liability policy can help defray these costs as well.

Mistakes

Another common liability is a simple mistake. These can happen at any time and are not intentional, whether it be a mathematical error in accounting or overcharging a customer for a product or a service. A liability policy can cover these kinds of issues as well, should they go to court.

No matter what kind of business you run, getting the right commercial policy is important. We here at Lifetime Investments, serving Mesa, AZ want to help you come up with the right option for you. Contact us today and let us begin working for you.

What Can Happen if You Do Not Have Auto Insurance?

Believe it or not, there are still people in Mesa, AZ that are driving vehicles that do not have insurance or do not have the right amount of insurance. In the state of Arizona, there are minimum requirements for auto insurance in order to legally drive a car. If you are found to not have auto insurance, you could run the risk of some serious penalties. Here at Lifetime Investments, we do not want you to get in trouble for not having auto insurance so we will help you find the right policy to cover the requirements and your needs. 

What Are the Penalties for Driving Without Auto Insurance in Arizona?

With the first offense, a driver that is caught driving without auto insurance can face a fine of up to $500 as well as license and registration suspension for up to three months. This means they will have to pay the fine and will not be able to drive for up to three months. With a second offense, the fine increases to up to $750 and there is a license and registration suspension of up to six months. With the third offense, there is a fine of up to $1,000 a well as a license and registration suspension of up to 12 months. In addition to these penalties, there is also an SR-22 certificate placed on your file for two years which notifies auto insurance companies that you are a high-risk driver. This can lead to higher premiums. 

If you do not have auto insurance or you want to make sure that you at least have the minimum coverage, be sure to contact us today at Lifetime Investments, serving Mesa, AZ. We will help you find the right policy that meets the state requirements as well as your budget. 

5 Tips to Save You Money On Auto Insurance

Auto insurance is without a doubt one of the costliest purchases that many consumers hope never to use. Whereas it is always prudent to purchase the right Mesa, AZ auto coverage, it often costs more to insure new vehicles as compared to 5, 7, or 9-year-old cars. The following are 5 helpful tips from Lifetime Investments, LLC on how you can save money on your next auto coverage:

1. Do Not Let Your Insurance Cover Lapse

Even if you have only been insured for a single year, the rates are likely to drop by 7.7 percent. Discounts offered by many insurers are often affected by the total liability coverage amount captured on your policy. This means that the higher your liability limits, the better discounts you are guaranteed to get.

2. Consider Bundling

It is common for an insurer to provide an attractive discount on your auto insurance if you have purchased another insurance policy from them. It could be a homeowner’s, life insurance, or even renter’s insurance. Lifetime Investments, LLC serves Mesa AZ and the surrounding cities and offers a wide range of insurance packages.

3. Ensure You Maintain Good Credit Scores

Insurance companies are often allowed by the state authorities to use credit score results when setting premiums. Inquire from your insurer whether they do this. But be sure to regularly check and correct any credit reporting errors that you may have.

4. Always Be Ahead of the Game

It is best to make sure you get your cover at least 10 to 15 days before it lapses to guarantee you better rates. It is a helpful tip if you already know that your auto insurance policy is due for renewal and are interested in switching insurers.

5. Drive Safely

Even though this is a good tip for your general well-being and for the safety of your fellow motorists, it also saves you from potential rate increases. Accidents often lead to an increase in your annual premiums.

For more information on auto insurance and coverage options, feel free to contact our offices via email or telephone. You can also visit our Mesa, AZ offices, and one of our agents will answer any questions that you may have.

 

Upscaling Your Commercial Policy

Your Mesa, AZ business can grow without warning. Maybe you wanted to keep it small, but the industry will have a say in it. If your brand is really taking off, there might not be much you can do but ride the wave.

So if you’re ready to upgrade your commercial policy, you’ll need to consider where you need additional protection. For many business owners, the first thing that they need to upgrade is their employee protection. This is where things tend to get out of hand very quickly. Today you’re hiring a few extra temps to help with a bulk order, tomorrow you’re doubling your staff. So investing in workers’ compensation right now can be a big help in the near future. You don’t want to be paying out of pocket if an employee makes a claim.

Property is self explanatory: When you expand your real estate, you get the insurance to protect it. General liability is one that throws some people off, though. As your business grows, you have a lot more foot traffic on the grounds. This means you have more risk, more people who are possibly going to slip and fall on your premises. So general liability, along with workers’ compensation, is something to consider upgrading as soon as possible.

If you call Lifetime Investments with your concerns, they can help you to figure out exactly what you need, or if you’re ready to upgrade your policy in the first place. You can’t always predict how and when your business is going to grow, but when it does, you need to make sure that your insurance policy reflects your current needs.

Why You Need Notary Insurance

As much as it would be nice to be perfect all of the time, unfortunately, it’s a tall order for anyone. Notaries have to handle a lot of sensitive information, and what they do can affect a lot of different people. A mistake can end up having a ripple effect on the business that you probably can’t afford. If someone chooses to sue you or if you’re held liable for certain charges and fees, do you know if you have the protection to cover the damages? If not, it’s time to learn more about how notary insurance can affect you. 

What It Covers 

Most people know what E&O insurance is, even if they don’t know all the specifics of it. With errors and omissions insurance, you are protected from any mistakes you may make during business hours. As long as the mistake was unintentional, you have a certain amount of coverage that can be used to fight against or to settle a lawsuit. Notaries need to understand what their liability limits are, so they can determine if they need additional coverage. If you live in Mesa, AZ, you can’t afford to take any chances with your assets. 

Contact Lifetime Investments 

It’s our mission to get our clients the protection they need. We want all notaries to continue serving their customers and clients. We also know just how easy it is to let a simple claim blossom into thousands upon thousands of dollars — fees that would need to come out of a notary’s personal savings or investments to be paid in full. We’re here to stop that from happening by increasing the level of protection around you. Give Lifetime Investments a call if you live in Mesa, AZ and need advice about how you can safeguard your livelihood.