How Term and Whole Life Insurance Are Different

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Leaving something behind for your loved ones is a great way to ensure their financial security after you’re gone. Life insurance is essential, but there are various types of policies available. You may have heard of term life and whole life insurance, but are they really different? Yes! These policies have many distinct differences, and it’s a good idea to understand them before you decide on the type you need. To find out more about life insurance, contact us at Roark Insurance Agency in Flatwoods, KY.

Duration of Coverage

Perhaps the most significant difference between these two types of life insurance is the duration of the policy. A whole life policy lasts for the rest of your life, regardless of your age. It never expires and is written for an indefinite period. So no matter how long you want to keep it, you can. Term life policies, on the other hand, are written for a specific term. This means that the number of years that the policy is valid will be written into it. After that time, the policy will expire.

Additional Benefits

Term life insurance is generally considered more affordable than whole life insurance. However, whole life insurance offers a cash value benefit that term life insurance doesn’t. This benefit allows the policy to accumulate a cash value over time. This is an amount that the policyholder can borrow against, which continues to grow. The cash value provides many people with peace of mind, knowing they have a way to borrow in an emergency.

Get Life Insurance in Kentucky

When you’re in need of life insurance, we are here to help. Call us today at Roark Insurance Agency in Flatwoods, KY, to find out more.

Three Questions to Ask When Getting Commercial Insurance for Your Business

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When you run a business, it’s crucial to protect it with the right insurance. There are many types of commercial insurance to consider for your business. At Roark Insurance Agency, servicing Flatwoods, KY, we help business owners choose the right insurance for their needs.

When you’re choosing commercial insurance, it’s important to ask the right questions. Asking good questions can help you make a smart decision and narrow your insurance choices.

The professionals at Roark Insurance Agency work with many insurance carriers. This makes it easier to find a suitable insurance policy. Want help getting commercial insurance? Here’s what to know.

1. What Type of Commercial Insurance Do I Need?

There are many different types of commercial insurance. Some examples of commercial insurance include:

  • General liability insurance
  • Commercial auto insurance
  • Professional liability insurance
  • Commercial property insurance
  • Data breach insurance

Not all of these insurance types are right for your business. Your insurance agent can help you choose the best insurance policy for your needs by asking questions and helping you think through your business as it relates to insurance.

2. How Often Should I Review My Commercial Insurance Policy?

Your business’s commercial insurance should be reviewed periodically to ensure it has sufficient coverage and the correct type of coverage. Find out from your insurance agent how often you should review your commercial insurance policy to ensure it’s adequate.

3. Does My Business Really Need Commercial Insurance?

This is an important question: whether your business actually needs commercial insurance. Your insurance agent at Roark Insurance Agency, servicing Flatwoods, KY, can tell you more about commercial insurance to help you make the right decision for your business. When you choose the right type of insurance, your business benefits. Call today to learn more.

Home Insurance Options for Couples Who Just Got Married

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Roark Insurance Agency has helped many Flatwoods, KY homeowners find policies for their new house. For example, we can help newlywed couples understand their insurance requirements. Here are a few things that you have to know if you’re interested in getting protection after marriage.

Should Both Be On the Policy?

If one person owns the home (such as the wife), they’re the only person who (by Kentucky law) needs to be on the policy. However, it’s a good idea to include both when:

  • They jointly own the home and want to make sure they’re covered
  • The policy automatically adds the other partner (common)
  • Adding them makes it easier for the policy to file claims

Will Your Spouse Get Automatically Covered?

Typically, we see a few different types of co-insurance: named and automatic insureds. Named insureds require you to specifically list your partner on the policy, meaning they can file claims and make changes. However, Kentucky law may add your partner to your policy automatically once you’re married. Unmarried couples typically have to go the "named" route, so keep that in mind.

Are There Benefits for Adding Your Spouse?

Absolutely! Advantages include:

  • Faster claims payments that work well if you can’t do it for any reason
  • Easier adjustments to your coverage, as your spouse can do them for you
  • Quicker renewals if ownership changes due to divorce or (heaven forbid) death
  • Improved interest rates due to multiple owners being listed on the policy
  • Continual coverage if you split up (even temporarily) and ownership shifts

We’re Here to Help You!

At Roark Insurance Agency, our team of specialists can help Flatwoods, KY couples understand their needs. We’ll work directly with you to identify high-quality policies, work with your lender, and ensure you walk away with a high-quality policy that makes sense for you and your partner.

Automotive Insurance Add-Ons for Frequent Travelers

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If you plan on driving your vehicle frequently, you may benefit from selecting add-on insurance coverage. Add-ons are specialized types of insurance that provide protection for unique situations that a standard policy does not cover.

Roadside Assistance

Driving frequently increases the risk of a tire blowout, empty gas tank, or mechanical failure. With roadside assistance coverage, you won’t need to be concerned about being broken down alongside a road. Roadside assistance coverage will allow you to seek the services you need during an emergency.

Towing Equipment Coverage

Do you plan to use your vehicle to tow a trailer? If so, you may want to select an add-on that provides coverage for towing equipment. This type of coverage can also be useful if you plan to have your vehicle towed behind an RV or another vehicle.

Towing equipment coverage covers all the towing essentials necessary to transport a vehicle or equipment. This add-on can protect against theft, vandalism, accidental damage, and weather-related losses.

Personal Property Protection

If you drive your vehicle on vacations or long road trips, you may benefit from adding personal property protection to your automotive insurance policy.

This type of coverage will protect your luggage, tools, stereo, navigational aids, and any other valuable items that are at risk of being stolen or damaged. You can choose how much add-on protection your automotive insurance policy includes.

A Scheduled Meeting With An Insurance Agent

Find out more about add-on coverage. One of our Roark Insurance Agency representatives will help you. As soon as possible, set up a time to consult with an agent serving Flatwoods, KY.

Protect and Insure Your Restoration Project with Classic Car Insurance

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Classic car owners understand the time, love, effort, and expense involved in maintaining and restoring these timeless beauties. While everyone admires a classic car, most only see the finished product. For the owners, however, reviving these admired automotive time capsules brings unparalleled joy. That’s why classic car owners in and around Flatwoods, KY, trust the experienced team at Roark Insurance Agency for their classic car insurance needs.

Secure Your Restoration Project with Classic Car Insurance

Many classic car owners opt for classic car insurance to protect their prized possessions. But classic car insurance offers more than just accident protection. It can assist with the cost of acquiring hard-to-find parts and protect your classic car throughout its restoration process. Whether it’s covering repairs resulting from an accident or preserving the restoration process of your classic car, classic car insurance can be invaluable. That’s why working with a reputable partner like Roark Insurance Agency is essential to help protect, restore, and maintain your classic car.

Get Classic Car Insurance in Flatwoods, KY

If you live in or around Flatwoods, KY, and would like to learn more about classic car insurance or need protection for your classic car, we’re here to help. Contact us to learn more and schedule an appointment for the protection your classic car needs and deserves at Roark Insurance Agency today.

Will Renters Insurance Cover My Roommate?

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If you’re renting an apartment, you probably share a lot of expenses with your roommate. It might seem logical to want to share your renter’s insurance expenses along with the others. While this may seem to make sense in theory, there are many potential downsides to sharing an insurance policy with a roommate.

The professionals at Roark Insurance Agency, servicing Flatwoods, KY, can help you decide whether you can (and should) get a policy that covers you and a roommate. Here’s what you need to know.

What Does Renters Insurance Cover?

Renter’s insurance pays to repair or replace destroyed or damaged belongings when a covered event occurs. Renter’s insurance also pays your living expenses if you have to evacuate your apartment due to a covered event. If your apartment is being repaired after a covered event, your renter’s insurance may pay you to live in a hotel.

Will Renters Insurance Cover My Roommate?

Some renter’s insurance policies do not cover roommates, while others do. Renter’s insurance only covers people mentioned in the policy, so if you want your policy to cover someone other than you, be sure to list that person on the policy.

Are There Downsides to Adding My Roommate to My Renters Insurance?

There can be downsides to adding your roommate to your renter’s insurance.

  • If your roommate has a claim, this will appear in both of your insurance claim histories.
  • If your roommate moves out, you’ll need to remove them from your policy.
  • Working together to file a claim can be more difficult if you do not get along with your roommate.

Do you want to know more about renter’s insurance? Contact the professionals at Roark Insurance Agency servicing Flatwoods, KY. We’re here to help!

Important Riders for Motorhome Insurance

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The most basic type of motorhome insurance covers various types of liability, collisions, uninsured and underinsured motorists, comprehensive issues, and medical payments. At Roark Insurance Agency, we can help Flatwoods, KY residents find riders to improve their policies.

Roadside Assistance

If you’re on vacation, there’s nothing worse than your motorhome breaking down. However, a roadside assistance rider will ensure your vehicle stays on the road. You’ll get 24/7 emergency support, help changing a tire, and even gas delivery if you run out unexpectedly.

Towing and Labor

When your RV breaks down for any reason, towing and labor coverage can help get the vehicle off the road and to a shop. This coverage often helps pay for some repairs and trip interruption expenses, such as lodging, transportation, and meals, as it gets fixed.

Replacement Cost

What happens when your motorhome gets totaled and can’t be fixed? If you add this rider to your policy, you’ll get either money back to replace the motorhome (its current value, not what you paid) or a new vehicle to replace it. This helps mitigate many heavy expenses for people who live in their motorhomes and need them replaced.

Personal Effects

People who live full-time in their motorhomes or who simply enjoy them heavily need personal effect coverage to pay for items in the vehicle. These may include things like televisions, beds, and even memorabilia. This coverage keeps them fully protected.

Let Us Help You!

At Roark Insurance Agency, we’ll find motorhome insurance that makes sense for Flatwoods, KY residents. With our help, it should be easier for you to identify a strong policy that protects your RV and motorhome from serious damage.

Kentucky RV Insurance Requirements

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Before you back out of your Flatwoods, KY, driveway in your RV, make sure you carry the proper insurance. If you drive your truck or SUV and tow your RV, such as a towable pop-up trailer or fifth wheel, you don’t need a separate RV policy. For any RV that you drive, the state of Kentucky requires insurance on it. At Roark Insurance Agency, we provide the RV insurance you need to remain in compliance with state law.

What Insurance Does Your RV Need?

RV insurance falls into the category of motor vehicle insurance. Like other forms of insurance that cover motor vehicles, the policy purchased must meet state minimum requirements. If you recently moved to Kentucky, you’ll need to update your RV insurance to meet this state’s insurance requirements of:

  • $25,000 for bodily injury per person
  • $50,000 for total bodily injury per accident
  • $25,000 for all property damage per accident
  • $10,000 personal injury protection (PIP) per person.

Once you’ve met the state requirements, add coverage like comprehensive and collision to protect your vehicle. Comprehensive reimburses you for repairs to your RV if a peril named in the policy damages it. Examples of perils include fire and tornado. Collision reimburses you for repairs to your RV if it gets damaged in an accident of any kind.

A few lesser-known coverage types can provide vital help when traveling in your RV. Roadside assistance coverage provides a tow truck, locksmith, or mechanical assistance to your location. If you run out of gas on the interstate, call roadside assistance, and they’ll bring a gallon of gas to you so you can reach a gas station. Rental car coverage pays for a rental car or RV if your RV must go into the shop for repairs or gets totaled in an accident.

Contact Roark Insurance Agency Today

Contact Roark Insurance Agency today for an RV insurance review. Let us help you protect your finances while you enjoy the country in your RV. Don’t leave Flatwoods, KY, without proper insurance coverage.

Have a Custom Bike? Here’s Why You Need Motorcycle Insurance

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Most states mandate motorcycle insurance. However, not all riders may have it in place. Some may hold the belief that their basic motorcycle doesn’t necessitate insurance. But what if you have a motorcycle with many customizations, be it in the form of structural modifications or added accessories? In such a scenario, insurance becomes vital. But why? Can insurance cover more than just the basic cost of your motorcycle? At Roark Insurance Agency in Flatwoods, KY, we’ll not only elucidate the importance of motorcycle insurance but also help you connect with suitable policies to ensure your safety and protect your cherished investment on the open road.

Why Consider Insurance for Your Custom Motorcycle?

Most riders may assume that motorcycle insurance merely covers the cost of the bike. If the majority of your expenditure is on customizations and the bike itself isn’t of significant worth, you might assume insurance isn’t necessary. However, add-ons to your policy can indeed cover your customizations. Additional accessories coverage and custom parts protection can provide the funds you need to replace some aspects of your bike in case of a collision or other incidents on the road. As long as your customizations are insurable (some might be deemed too risky and may be declined), you’ll be assured of being covered in all situations.

Choose Motorcycle Insurance and Add-ons with Roark Insurance Agency

Motorcycles can represent a considerable investment, especially when you continually enhance them over the years. We’re here to help safeguard that investment. Compare quotes now with us at Roark Insurance Agency in Flatwoods, KY!

Watercraft Insurance: Don’t Leave the Dock without It

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If you own a watercraft, be it a sailboat, motorboat, jet ski, or any other, you surely understand the significance of safety in water. For most boat and watercraft owners, safety extends beyond just mastering swimming; insurance protection becomes paramount. In certain marinas and waterways, insurance is even a prerequisite before docking. These are just a few reasons why people around the Flatwoods, KY area rely on the trusted team at Roark Insurance Agency for all their boat and watercraft insurance needs.

Watercraft and Boat Insurance: Don’t Leave the Dock without It

Safety on the water isn’t just about staying afloat. Responsible watercraft ownership extends to both on-sea and on-shore safety measurements, including insuring boats against potential damages. Engaging professional and experienced insurance agents can help you find the right coverage – from liability to accident coverage – ensuring you and your watercraft are protected irrespective of what lies ahead.

Boat and Watercraft Insurance in Flatwoods, KY

If you’re a boat or watercraft owner residing in or around the Flatwoods, KY area, safeguarding yourself and your seaworthy vessel with a boat and watercraft insurance policy is prudent. Have questions about boat or watercraft insurance? Need to understand the coverage for your boat or watercraft? Contact Roark Insurance Agency today to get your questions answered, ensure you have the protection you need, and find an insurance plan that fits your specific needs.

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