Frequently asked questions about insurance and services through Secure
We understand you want to do your research before choosing a new insurance company. This is especially true if you’ve had a bad experience.
Or maybe this is your first time purchasing insurance on your own, and you’re not sure where to start.
Whatever your situation, Secure is here to make the process go as smoothly as possible! Our team has compiled questions clients frequently ask during different stages of the insurance process.
If you have a question that’s now listed, give us a call. We’re happy to get you an answer.
General Insurance FAQs
What’s the difference between an insurance broker and an insurance agent?
An insurance broker works independently and is not tied to any single insurance company. Brokers can offer policies from multiple insurance carriers, giving clients a wider range of options.
On the other hand, an insurance agent typically represents a specific insurance company and sells policies exclusively for that company.
Secure Insurance is an independent agency. Our team is comprised of licensed brokers who work with over 20 providers enabling us to customize a policy that fits your needs.
Why should I work with an independent agency?
Working with an independent agency gives you access to a broader selection of insurance products from different providers. This allows you to compare coverage options and prices to find the best policy to suit your specific needs.
Another perk of working with an independent agency is you can consolidate your premium payments and avoid the hassle of paying multiple bills to different insurance companies.
Instead of managing separate payments, you make a single payment to your independent insurance agency, which then handles the distribution of funds to the various carriers for your policy.
What’s the difference between a deductible and a premium?
A deductible is the amount you are required to pay out of pocket before your insurance coverage kicks in.
A premium is the amount you pay for your insurance policy. Generally, policies with higher deductibles have lower premiums, and vice versa.
What factors can affect my insurance premiums?
Several factors can impact your insurance premiums, including your age, vehicle, credit, driving record (for auto insurance), claims history, location, the type and amount of coverage you choose, and the deductible you select.
For health and life insurance, factors such as your age, health status, and lifestyle may also influence premiums.
Is it possible to bundle different types of insurance policies?
Yes, many insurance companies and brokerages offer the option to bundle different types of insurance policies, such as combining auto and home insurance. Bundling policies can often lead to cost savings and simplification of the insurance management process.
Our team at Secure Insurance will find savings for you where possible, including bundling your policies.
Auto Insurance FAQs
What factors influence the cost of auto insurance?
Various factors, such as driving record, age, type of vehicle, location, coverage limits, and deductibles, can influence the cost of auto insurance. Additionally, factors like mileage, usage of the vehicle, and security features can also impact insurance premiums.
When contacting us for a quote, be sure to have that information available so we can get you an accurate estimate.
What is the difference between collision and comprehensive coverage?
Collision coverage typically pays for damages to your vehicle caused by a collision with another vehicle or object.
Comprehensive coverage helps pay for damages to your vehicle from incidents other than collisions, such as theft, animal damage, windshields, vandalism, or natural disasters.
What is uninsured/underinsured motorist coverage, and do I need it?
Uninsured/underinsured motorist coverage provides protection if you're involved in a not-at-fault accident with a driver who has little or no insurance. This coverage can help pay for your medical bills, lost wages, and other damages resulting from the accident.
Uninsured/underinsured motorist coverage is recommended for added financial protection.
Do I need to notify my insurance company if I get into an accident?
Yes. It’s important to notify your insurance company as soon as possible after an accident, regardless of fault. Promptly reporting the incident allows the insurance company to begin the claims process and helps ensure you receive the necessary support and guidance throughout the process.
If you have a policy with Secure Insurance, give us a call right away. We’re here to guide you through this unfortunate event and ensure the incident is handled with the utmost care.
Can I add other drivers to my auto insurance policy?
Most auto insurance policies allow you to add other drivers to your policy, such as family members or household members. It's important to disclose all regular drivers of your vehicle to ensure proper coverage and minimize the risk of potential coverage issues in the event of a claim.
Business Insurance FAQs
What types of business insurance do I need?
Determining the necessary types of business insurance depends on the nature of your business. Common types of business insurance include general liability insurance, commercial property insurance, professional liability insurance, workers' compensation insurance, and business interruption insurance.
How much does business insurance cost?
The cost of business insurance varies based on factors such as the size of your business, industry, location, coverage limits, and the specific risks associated with your operations.
Our brokers will work with you to obtain a customized quote based on your business' unique needs.
Do I need business insurance if I work from home?
Operating a business from home doesn't necessarily exempt you from needing business insurance. Depending on the nature of your home-based business, you may need coverage for equipment, liability protection, and professional indemnity insurance.
If you’re looking to start a home-based business or have one now, give us a call. Our insurance professionals will assess your specific risks and create a policy to ensure you’re business assets are covered.
What does business interruption insurance cover?
Business interruption insurance provides coverage for lost income and ongoing expenses if your business is unable to operate due to a covered event, such as a natural disaster or property damage. It can also cover additional expenses incurred to expedite the resumption of business operations.
Can I adjust my business insurance coverage as my business grows?
Yes. It’s important to regularly review and adjust your business insurance coverage as your business evolves and expands. Whether you're adding employees, acquiring new assets, or entering new markets, you should update your insurance to adequately protect your growing business.
Our insurance brokers can assist you in modifying your coverage to align with your business' changing needs. Schedule an appointment with one of our team members to get started.
What is workers' compensation insurance, and is it required for my business?
Yes, in New Mexico you are required to have workers compensation insurance if you have 3 or more employees including owners
Workers' compensation insurance provides wage replacement and medical benefits to employees who are injured or become ill as a result of their work.
In most states, businesses are required to carry workers' compensation insurance to provide protection for employees and ensure coverage for work-related injuries and illnesses.
It's important to understand the specific requirements for workers' compensation insurance in your state and industry to ensure compliance with regulations and provide a safe working environment for your employees.
The Secure Team can help New Mexico, Arizona, and Colorado businesses with workers’ compensation insurance.
Life Insurance FAQs
How much life insurance coverage do I need?
Determining the appropriate amount of life insurance coverage depends on various factors, including your income, outstanding debts, future expenses (such as education costs for children), and your family's financial needs in the event of your passing.
A comprehensive assessment of your financial situation can help determine the right coverage amount.
Remember you are your family's biggest asset!
What are the different types of life insurance?
There are two primary types of life insurance: term life insurance and permanent life insurance. Term life insurance provides coverage for a specific period (e.g., 10, 20, or 30 years).
Permanent life insurance, such as whole life or universal life, offers coverage for your entire lifetime and includes a cash value component. This type of insurance is a wise investment as part of your retirement plan.
Can I purchase life insurance for someone else?
In general, you can purchase a life insurance policy for someone else if you have an insurable interest in that person, such as a spouse, child, or dependent.
An employer can buy Key Person Insurance for their employee if their loss will significantly affect the business. This type of life insurance provides coverage for the key employee's life, and the benefits are paid to the employer in the event of the employee's death.
It’s designed to help the business recover from the financial impact of losing a key employee whose skills, knowledge, or leadership are crucial to the company's operations and success.
Do I need a medical exam to get life insurance?
Whether a medical exam is required for life insurance depends on the type and amount of coverage you're applying for, as well as your age and health history. Some policies, especially larger coverage amounts, may require a medical exam to assess your overall health and determine your insurability.
Can I change my life insurance policy after purchasing it?
Depending on the type of policy, it may be possible to make changes after purchasing life insurance. For example, with permanent life insurance, you may have the option to adjust the death benefit, premium payments, or cash value component. It's important to review your policy and consult with your insurance broker regarding any desired changes.
FAQs About Secure Insurance
What types of insurance does Secure offer?
We offer a comprehensive range of insurance products, including but not limited to:
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Auto Insurance
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Home Insurance
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Business Insurance
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Life Insurance
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Health Insurance
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Disability Insurance
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Medicare supplements, Advantage and Prescription plans
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And more
Visit the coverage section of our Home page for a complete list of coverages available.
Does Secure offer MexiPass/Mexican Insurance?
We sure do! The Secure Team can help you with a range of insurance products tailored to provide coverage for auto, home, watercraft, and commercial risks in Mexico.
Whether you’re seeking coverage for travel to Mexico or living in Mexico, we’ll ensure you have a comprehensive package to protect your assets.
How does the process work when obtaining insurance through Secure Insurance?
When you reach out to us, our experienced brokers will assess your insurance needs, provide you with personalized recommendations, and assist you in comparing quotes from multiple insurance carriers.
Once you've selected a policy, we’ll help you with the application and facilitate the entire process on your behalf.
What’s the cost of using your insurance brokerage services?
Our brokerage services are typically provided at no additional cost to you. We’re compensated by the insurance companies we work with, so you can take advantage of our expertise and access to multiple insurers without incurring extra fees.
How do I get in touch with a broker at Secure Insurance?
Give us a call at 505-325-6706 or stop by our office at 800 E. 30th St. Building 4E in Farmington, NM
Policy Management FAQs
Can I make changes to my policy through your agency?
Yes, you can make changes to your policy through our agency. Whether you need to update your coverage, add a new vehicle, or make any other adjustments, our licensed brokers will guide you through the process.
What if I need to file a claim?
In the event of a claim, the Secure Team is here to support you. We’ll help you navigate the claims process and work with the insurance carrier on your behalf to ensure a smooth and fair resolution.
Can I renew my policy through your agency?
Absolutely! One of our team members will proactively reach out to you prior to your policy's expiration to discuss renewal options and make any necessary adjustments based on your evolving needs.