Group Health Insurance

Group health insurance is a plan offered by an employer providing health coverage to employees and their families. It may also be offered to members of an organization. Generally, group health insurance may be less expensive because the risk is spread across the policyholders.

How Does Group Health Insurance Work?

An employer or organization purchases health insurance, and group members or employees can opt in to receive coverage. They may pay a portion of the employer or organization’s premiums.

Accepting group health insurance is not mandatory. Each health plan is different, and you may have several plans from which to choose. Your agent can help you decide whether enrolling in group health insurance may provide your needed coverage.

What Are the Benefits of Group Health Insurance?

Group health insurance premiums may be less expensive than purchasing an individual policy. Organizations that provide access to group health insurance for their members or employees may receive tax benefits.

Many job seekers consider access to group health insurance standard among benefits. Providing access to high-quality health care at a reduced cost could help an employer attract and retain top talent.

Learn More About Group Health Insurance

Call Matt Roenker Insurance Agency today to learn more about how group health insurance may benefit your organization and to get a quote.

Term Life Insurance

Life insurance can help ensure the monetary needs of your loved ones are protected after you die. The type of life insurance and how much you choose is personal; however, term life may be coverage worth considering. Work with an agent today to learn more about term life insurance and determine whether it’s right for you.

What Is Term Life Insurance?

Term life insurance is coverage you choose for a set number of years, such as 10, 20 or 30, which is referred to as the policy’s term. Term life insurance is sometimes called pure life insurance, as it only provides the guaranteed death benefit and does not feature a savings component.

Your term life policy can provide a death benefit to your named beneficiaries if you die during the policy’s term. If you do not die during this time, the policy doesn’t pay out and expires when the term ends. At the end of the term, you can choose to renew or reapply for a policy, allow the policy to terminate, or inquire about your options for converting the policy into a whole life policy.

How Much Life Insurance Coverage Do I Need?

Determining how much life insurance coverage you should purchase is entirely up to you, and can be complex. Some people choose to buy enough life insurance to cover the costs of their debts, such as mortgages or car payments. If you die while these debts are still outstanding, your beneficiary may use the money to settle these expenses. Other people purchase enough coverage to cover a certain number of years’ worth of their income to their beneficiaries.

If you purchase a term policy to protect your family, you must understand if your family’s life insurance needs may change before the term expires. For many people, this can mean the kids will be grown and on their own, the house will be paid off, and you may want to leave some money as a safety net for your surviving spouse. Work with an agent to determine what amount of coverage is right for you.

How to Get Life Insurance

Your decision to buy a term policy should be guided by your specific situation and what matters to you.

If you need term life insurance, we’re here to help. Give Matt Roenker Insurance Agency a call to get started.

Special Event Insurance

Special events take money, time and energy. If everything goes according to plan, an event is successful. However, unexpected incidents can happen, including no-show vendors, extreme weather and special guests who must cancel. Unforeseen circumstances can mean event postponements and cancellations, not to mention financial damage.

What Is Special Event Coverage?

Regrettably, insurance is often overlooked during planning. Special event insurance is a unique coverage that can provide financial protection and peace of mind if an event must be canceled or postponed. Event planners can gain great comfort knowing they are financially safeguarded with special event insurance if their plans change.

Whether planning a community festival, trade show, wedding celebration or other special event, special event coverage can offer several levels of protection, including:

• Event cancellation or postponement—If you need to postpone or cancel your event, this coverage may help reimburse you for any nonrefundable deposits and other fees up to your policy’s coverage limit. It may also help cover the cost of refunding guests’ ticket sales.
• Event liability—Special event insurance can help cover numerous liability risks that may occur during a special event, such as property damage or bodily injuries to guests for which you’re found responsible.
• Additional or special coverages—Many special event insurance policies may provide coverage for additional items. For example, a policy may include wedding insurance or coverage against damage or theft for a dress or tuxedo, gifts, photographs or other special items.

It’s important to note that some venues may require a business to carry special event insurance. We can help you with the coverage you may need for your next special event to ensure you’re adequately protected.

What Does Special Event Insurance Cost?

The cost of your special event insurance policy may be affected by various factors, including the level of risk, duration of your event, the amount of coverage needed, the event’s alcohol policy and what activities will take place at your event. Work with your agent to get a policy quote today.

Get Your Coverage

It is best to purchase your special event insurance when you begin making deposits or purchases for your event. There can be restrictions on when you can buy coverage, so be sure to talk with us about timing.

We can help you with your special event insurance and give you peace of mind knowing you are protected if something unfortunate happens or if your event plans change.

Watercraft & Boat Insurance

Having the right boat insurance policy for your watercraft can be an excellent way to protect yourself from costs related to property damage and medical expenses if an injury occurs. Our agency can assist you in learning more about your coverage options so you can be financially protected.

What Does Boat Insurance Cover?

Boat insurance policies generally depend on the type of coverage you select. Regardless, common boat insurance coverages include:

• Liability coverage helps cover expenses if your boat causes damage to another person’s property.
• Medical payments coverage helps cover medical expenses if you or a passenger gets injured on your boat.
• Boat insurance property coverage helps protect your boat from various risks and potential incidents by covering costs related to incidents such as theft or vandalism.
• Uninsured watercraft coverage helps cover expenses if an uninsured boater collides with you and causes injury to you or your passengers.

Other coverage options may be available. Our agency can help you learn about potential coverages to include in your boat insurance policy.

How to Get Boat Insurance

Matt Roenker Insurance Agency is ready to help you learn more about boat insurance. Contact us today to request a quote or to learn more.

Medicare

Medicare is a federal health insurance coverage for qualified individuals. You can qualify for Medicare coverage if you’re 65 years old, have specific disabilities, or have end-stage renal disease. Medicare coverage can be complex, so it’s beneficial to speak with an agent before choosing your coverage.

What Is Medicare?

Medicare is multi-part healthcare coverage for qualified individuals. Once you determine whether or not you want to enroll, you will have to decide which parts you will enroll in. The parts of Medicare include the following:

• Part A, also known as hospital insurance, includes health care costs associated with hospital stays and limited stays at a nursing home, hospice care and some costs for home health care. Part of Original Medicare.
• Part B, also known as medical insurance, is for everyday health care expenses, any outpatient care you might receive, specific medical supplies and preventive care. Part of Original Medicare.
• Part C, also known as Medicare Advantage, is an alternative to Original Medicare. It becomes your primary coverage; most Medicare Advantage Plans include Part D Medicare prescription drug coverage. Some Medicare Advantage Plans offer additional dental and vision coverage and fitness memberships.
• Part D, also known as prescription drug coverage, will help cover the costs of medications prescribed for your health condition. Individual Medicare drug coverage plans use a formulary developed by a pharmacy and therapeutics committee composed of pharmacists and physicians to regulate which medications they’ll cover.
• Medigap, also known as Medicare Supplemental Insurance, is a supplemental health insurance program to cover health care costs that Original Medicare does not. You can only purchase Medigap insurance if you’re enrolled in Original Medicare. It cannot be used with a Medicare Advantage Plan.

When Do I Enroll in Medicare?

The enrollment process for Medicare can be a little different for everyone. Be sure to check with your Social Security Administration three months before your expected start date of Medicare to be sure everything is in order if you are eligible for automatic enrollment. Automatic enrollment is available for you if you:

• Are you already receiving Social Security benefits (at least four months before start)
• Receive U.S. Railroad Retirement Board (RRB) benefits (at least four months before start)
• Are under age 65 but have a Social Security disability for 24 months
• Have amyotrophic lateral sclerosis (ALS or Lou Gehrig’s disease or ESRD)

If you are about to turn 65 or are not receiving Social Security benefits, you will have to enroll on your own. Enrollment can vary based on individual circumstances, so be sure to contact an agent if you have questions about your enrollment process.

How to Get Started With Medicare

Medicare is a complex coverage that you shouldn’t have to navigate alone. Reach out to an agent to learn more about your enrollment process today.

Condominium Insurance

Condominium insurance, also known as HO-6, is essential for all condo owners. A standard HO-6 policy covers what a condo association’s master policy won’t, including financial protection from damaged or lost personal belongings and injuries that occur inside your condo. Our agency can help you evaluate your coverage options to determine the right policy for you and your condo. Contact us today to learn more.

Condo Insurance Coverages

Coverages vary among condo owners, but a general HO-6 policy might include:

• Dwelling coverage, which helps cover any damage that occurs to the interior of your condo, including expenses related to weather damage such as hurricanes and fires
• Personal property coverage, which generally assists in covering expenses related to damaged or lost personal belongings, including clothing and furniture, that you keep inside your condo
• Personal liability coverage, which can assist in covering medical bills or legal expenses if someone gets injured inside your condo
• Additional living expenses, which covers living expenses, such as a hotel room, if damage occurs to your condo and you cannot live there while it’s being repaired or rebuilt

Although these coverages are common in most HO-6 policies, there might be additional options. You may also need to secure additional lines of coverage, such as flood insurance or personal umbrella insurance. Reach out to our agency today to learn more about coverages to include in your policy.

How to Get Condo Insurance

Matt Roenker Insurance Agency can assist you in learning more about HO-6 policy options. For more information, contact us today to request a quote.

Annuities

An annuity can help secure a stream of payments to use as a form of retirement income. When you purchase an annuity, you may get tax breaks or be able to receive income at regular intervals in exchange for a one-time lump sum payment to an insurance company.

Types of Annuities

There are three main types of annuities:

• Fixed annuities pay a guaranteed amount during each payment period. Fixed immediate annuities start paying right away, while fixed deferred annuities start paying at some pre-determined point in the future. In general, fixed annuities have a moderate rate of return.
• Variable annuities allow the account owner to choose from a menu of mutual funds and can produce a higher return. Payments are based on the performance of the mutual funds. There is some risk associated with variable annuities.
• Indexed annuities generally provide a higher return than fixed annuities but are less risky than variable annuities. There’s a guaranteed minimum payout, and a portion of the interest earned is tied to a market index, such as the S&P 500.

The amount of money you receive from an annuity is based on the type of account you choose, the insurer’s terms and the amount of money you invest.

The best way to determine how much income your annuity investment may generate is to get an individualized quote from your insurance agent.

How to Purchase Annuities

An annuity may help you reach your income goals in retirement by creating income that you can’t outlive. Matt Roenker Insurance Agency can help you understand your options so you can start investing right away.

Workers’ Compensation Insurance

Accidents happen in the workplace, no matter what precautions you have in place. Workers’ compensation insurance is designed to help cover the costs associated with a work-related injury or illness. We’re here to help you sort through business insurance, including workers’ compensation insurance benefits. Contact us today to get started.

What Is Workers’ Compensation Insurance?

Workers’ compensation insurance is a type of business insurance policy that provides benefits to employees if they suffer work-related illnesses or injuries. Workers’ compensation benefits typically include coverage for paying for medical care and lost wages from time missed from work.

Employers also benefit from workers’ compensation insurance, as it can help protect your business from lawsuits and keep it compliant with state regulations.

What Are Workers’ Compensation Benefits?

Workers’ compensation may provide various benefits to employees who experience an injury or illness, including:

• Medical benefits—Employees may receive compensation to cover doctor appointments, hospital visits and medications.
• Wage-loss benefits—If an employee cannot return to work at total capacity, wage-loss benefits may help them supplement their lost income. This benefit may last until the employee has recovered or until the wage-loss benefit limit has been reached.
• Vocational rehabilitation benefits—Employees may receive access to vocational rehab services to help them learn new skills and reenter the workforce after an injury.
• Death/dependent benefits—If an employee loses their life because of a work-related injury or illness, workers’ compensation may help cover funeral costs and lost income. These benefits are typically provided to the spouse or dependents of the deceased.

Worker’s compensation laws vary by state, which may impact the limits and duration of benefits and the type of employers required to have it. Reach out to an agent to discuss specific requirements for your business.

How to Get Workers’ Compensation

We’re ready to help you secure workers’ compensation coverage for your business. Contact Matt Roenker Insurance Agency today for more information or a quote.

Recreational Vehicle Insurance in Virginia Beach, VA

If you have any type of recreational vehicle, including a motorcycle, RV, boat, or off-road vehicle (e.g., all-terrain vehicle (ATC) or snowmobile), you’ll need to secure additional insurance to properly protect your investment. Determining what and how much coverage you need can be tricky, but that’s why we’re here to help. Contact us today to get started.

What Is Recreational Vehicle Insurance?

Recreational vehicle insurance is a general term that refers to a variety of policies used to insure vehicles such as boats, motorcycles, RVs, ATVs and travel trailers. Each policy provides unique coverage. Talk to your agent today to discuss specific coverage you may need for your recreational vehicle.

What Does Recreational Vehicle Insurance Cover?

Recreational vehicle insurance helps provide a layer of protection against liability and property damages. Recreational vehicle insurance varies based on the type of vehicle you have. Talk to your agent to learn more about targeted coverage for:

• Boat and watercraft
• Off-road vehicles (e.g., ATVs, golf carts, and snowmobiles)
• Campers
• Coaches
• Motor homes
• Travel trailers

Is Recreational Vehicle Insurance Required?

Depending on the type of recreational vehicle you own and where you live, you may be legally required to obtain insurance for your vehicle. For example, most RV and motorcycle owners must secure at least the minimum auto insurance required of all drivers in their state of residence.

How to Get Recreational Vehicle Insurance

If you’re in need of a recreational vehicle insurance policy, we’re here to help. Contact Matt Roenker Insurance Agency today to learn more or receive a free quote.

Renters Insurance

Renters insurance can provide you with needed financial protection against adverse circumstances, whether it’s covering your personal belongings in case of damage or ensuring you’re protected if someone is injured in your residence. If you need renters insurance, we’re here to help. Contact us today to learn more about your renters insurance options or to get a quote.

What Is Renters Insurance?

Renters insurance provides protection against property loss and liability if you cause injury or property damage. To learn more about what that means, we’ve covered some basics about each.

• Property protection—Renters insurance covers your possessions against damage for things such as fire, smoke, lightning, vandalism, theft and water damage—but not flooding—to name a few. It also extends beyond on-premise theft and hazards, covering property that is stolen from your car or lost or damaged anywhere you happen to be. Talk to your agent today to learn more additional property protection options, such as flood and earthquake insurance and scheduled items riders.
• Liability protection— The liability portion of a renters insurance policy helps protect against claims of third-party bodily injury or property damage caused by you or another person listed as insured on your policy. It may also help pay for medical bills if someone has an injury in your rental. Liability also provides coverage for legal defense costs and judgments in a lawsuit, whether the incident occurred within your rented residence, or elsewhere.

Some renters insurance policies pay a tenant’s temporary living costs if they need to live elsewhere because of a fire, severe storm or other covered disaster. This coverage may include hotel bills, temporary rentals, restaurant meals and other living expenses. Talk with your insurer about whether your renters insurance has this inclusion.

How to Get Renters Insurance

Whether you call a rented house, condo or apartment your home, you can benefit from renters insurance. Call us today to learn more about renters insurance or to get a no-obligation quote.