Franklin Insurance Agency

2345 Southern Blvd SE Ste C4,
Rio Rancho, NM 87124, United States

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Why New Mexico Restaurant Owners Should Consider Commercial Umbrella Insurance

Franklin Insurance Agency offers coverage to the Rio Rancho, NM community. We strive to make sure that our clients find policies to protect their assets and manage risks. For over 15 years, we have built our service around integrity and trust.

Why Commercial Umbrella Insurance Can Help You Protect Your Restaurant

Umbrella insurance acts as a safety net if you are involved in a serious liability dispute. Umbrella insurance can help you protect your assets. This is especially important if you are a Rio Rancho, NM restaurant owner. Umbrella insurance can help you protect your investment. You face multiple risks every day as you operate your restaurant. Here is a look at some of the different ways that umbrella insurance is an asset.

As a restaurant owner, the most common danger that you face is an accidental injury. Perhaps one of your customer’s trips and falls, or they believe that one of your products made them sick. They plan to seek litigation against your business for pain and suffering. Your traditional liability coverage may not be enough to protect you. That means your assets may be at risk. Umbrella insurance is an asset because it allows you to have full coverage while you deal with the allegations.

If you serve alcohol at your restaurant, you’ll also need umbrella insurance. You could be held liable if you serve alcohol to one of your patrons and later on they end up damaging someone’s property. This is one of the most serious liability disputes you can go through as a restaurant owner. Umbrella insurance can help you avoid disaster.

Franklin Insurance Agency Will Help You Protect Your Investment

Visit our website today to learn more information about umbrella insurance.

Why should I get a motorcycle insurance plan in New Mexico?

In the Rio Rancho, NM area, people are able to enjoy the hot sun and open roads when going for a drive. This can make it a fun place for you to own a motorcycle. If you do own a motorcycle here, you will have an efficient mode of transportation that can be used much of the year. However, you will need to get a motorcycle insurance plan in place if you do get one. There are several reasons why you should get a motorcycle insurance plan here.

Insurance Protects Against Liability

An important reason that anyone in this area of New Mexico should get motorcycle insurance is that it can protect against liability risk. If you are going to operate a motorcycle, you could make a mistake that leads to an accident that results in damages. If this happens to you, it will be beneficial to have motorcycle coverage as it will have protection against liability risk.

Protection for Asset

You will also want to get motorcycle insurance as it can protect your asset. If you invest in a motorcycle and want to use it for a long time, you should get a collision and comprehensive policy. This form of coverage will provide protection in the event your motorcycle is stolen or damaged. This coverage will also be required if you took out a loan to buy the motorcycle. 

When you are shopping for motorcycle insurance coverage in the Rio Rancho, NM area, it would be a good idea for you to call Franklin Insurance Agency. The insurance team with Franklin Insurance Agency understands the value of motorcycle coverage. They can help you assess your individual needs and explain all of your options. This can help to ensure you are able to build a quality motorcycle insurance plan. 

Required Auto Insurance in New Mexico

Driving in New Mexico means seeing breathtaking vistas and an amazing landscape, but it also requires a specific amount of auto insurance. Without these minimum coverages, you can face stiff penalties from the state. If you need auto insurance, or you want to raise the amount you have, call us at Franklin Insurance Agency in Rio Rancho, NM. 

Bodily Injury Auto Coverage

To drive in New Mexico, you must have some mandatory minimums of auto insurance. This includes a specific minimum amount for the injury or death of a person and another for the injury or death of two or more people. This bodily injury coverage pays the medical bills of those injured or killed in an accident that is your fault. You must carry proof of this insurance coverage in your vehicle. 

Property Damage

It is also required that you have a specific amount of coverage to cover all of the property damage you do in an accident in which you are at fault. This type of coverage is often used to pay for the damage to another person’s vehicle, but it can also cover the damage done to houses, landscaping, commercial property, and anything else that was damaged by your vehicle. You must also carry proof of this insurance and show it upon request. 

Call to Make an Appointment

If you aren’t sure if you have enough coverage, or you want a new auto policy, call us at Franklin Insurance Agency in Rio Rancho, NM. Make an appointment to talk about your auto insurance needs with an insurance agent. You may want to boost the amount of auto coverage you have to better fit today’s medical and property expenses. If you don’t have enough insurance to pay for either bodily injury or property damage, you could be forced to pay for them out of pocket. 

Commercial Insurance Options for Home Businesses

A home business can be a profitable and rewarding experience. Like any business, your home enterprise needs to be protected against unforeseen events that can lead to financial loss. At Franklin Insurance Agency, we offer a number of commercial insurance options for home businesses in the Rio Rancho, NM area. The right insurance protection will give your home business a chance to grow.

Why Your Home Business Needs Commercial Coverage

If you’re counting on home insurance to protect your business property, you may be sorely disappointed. Home insurance is designed to protect your dwelling and personal belongings, not business equipment or products. That’s why you need commercial coverage.

Commercial Insurance Options for Home Businesses

Depending on the scope and type of home business you run, you can choose from the following coverage options:

Property Coverage – to protect your business furniture, equipment (computers, scanners, printers, phones, etc.), and products (if you store inventory on your home property)

General Liability Coverage  – to protect you against accidents customers or business associates may have when visiting your home for business purposes. Liability also protects you against lawsuits if you’re sued for damages.

Business Interruption Coverage – to cover lost revenue and other business expenses if you have to shut your enterprise down temporarily due to disaster damage to your home

Workers Comp Coverage – If your home business employs three or more part or full-time workers, New Mexico requires that you have this coverage to protect your employees against accidents on the job.

Commercial Auto Coverage – If your home business uses a vehicle (or vehicles) for business purposes, this coverage will protect you and your workers against auto accidents on the job.

To purchase commercial insurance for your Rio Rancho, NM home business, contact Franklin Insurance Agency at your earliest convenience.

3 Tips for Buying Boat Insurance in Rio Rancho NM

Owning a boat is a dream come true for many people in Rio Rancho, NM. Isn’t that reason enough to protect one of your most prized possessions? If you don’t already have boat insurance, it’s a good time to consider purchasing a new policy. If you already have one, good for you. But have you considered switching to a new carrier to save money? All these tips and more can be explained by contacting Franklin Insurance Agency. But first, we’ve put outlined three tips below to help you know what to expect during the boat insurance buying process.

1. Start with a Reputable Agent

Working with a reputable insurance agent is the key to your success. Our friendly and knowledgeable insurance agents are standing by to take your call, answer your questions, and point you toward several policies to consider. You’ll save both time and money when you put our agents to use.

2. Be Sure to Bundle

Bundling insurance policies under one carrier is a sure way to save money. Your deductible will remain the same, but you’ll save on your premiums. Consider switching to a new carrier for maximum savings and don’t forget to ask your reputable insurance agent about other ways you can save money on boat insurance.

3. Compare Quotes

We recommend comparing several boat insurance quotes before making a decision. Each quote will have differences in what is covered, how much, and for what price. A reputable insurance agent can help you with this by quickly and easily point out all the differences for you to consider.

To purchase a new boat insurance policy, contact our team at Franklin Insurance Agency today, serving the Rio Rancho, NM area. We can be reached.

Three things to do before you select an auto insurance policy in New Mexico

Buying the right auto insurance policy is important for motorists in New Mexico. At Franklin Insurance Agency, we can help you to pick out an appropriate auto insurance solution for your needs in Rio Rancho, NM.

The following are three things to do before you select an auto insurance policy in New Mexico. 

Figure out your budget

You’re going to have to regularly make premium payments on your auto insurance policy over time.

Because your premiums are a recurring expense, you need to budget for them carefully. Figure out how much you can afford to put toward your auto insurance payments every month. 

Get all the pertinent information together

You will need to provide certain information to insurance providers to start a policy. You will need to provide information like your driver’s license number, the VIN number of your vehicle, and the title number of your vehicle. 

It’s therefore important to gather documents like your driver’s license and your vehicle title before you purchase a policy. 

Acquire quotes from several providers

It’s important to compare quotes between different auto insurance providers. This allows you to determine the best deal on your policy.

Do your research and pick out three or four auto insurance providers of interest. Then, you can get quotes from all of them. 

Don’t just look at the price when you’re comparing quotes. You should also consider the value you’ll be getting out of the particular policy. You’re going to want to be able to depend on your policy when you need to file a claim. Therefore, a reliable auto insurance provider is important. 

Contact us for assistance with selecting an auto insurance policy in Rio Rancho, NM. At Franklin Insurance Agency, we’re here to help answer all of your auto insurance questions. 

Does home insurances cover lawsuits

Our society is too litigious to live without a form of lawsuit coverage. Luckily, our insurance companies in Rio Rancho, NM are fully aware of this, and that’s why most coverages, including home insurance, come with liability coverage.  You can never really tell how messy a lawsuit can get. That is why Franklin Insurance Agency recommends buying adequate coverage to protect yourself financially if you find yourself involved in a lawsuit.

Are lawsuits covered in home insurance?

Yes. Your home is where you spend most of your time. It is where you invite and entertain guests, and that’s why it is easy to find yourself getting slapped with an expensive lawsuit. A simple slip and fall can result in unexpected lawsuits. Most lawsuits seek monetary compensation for injuries or damages the plaintiff claims the defendant should be liable for.

How does home insurance protect you against lawsuits?

When someone sues you for damage on their property or injuries in Rio Rancho, NM, home insurance comes in and pays for the legal fees required in court, such as hiring a lawyer. Depending on your coverage limits, your coverage can also compensate for the lost income when attending the court sessions.

Home insurance also pays monetary compensation for medical bills for the injured party and the repairs and replacements to be done. Since home insurance is a family policy, everyone is covered. If any of your family members is involved in a home lawsuit, home insurance can pay for the legal fees required.

What is exempted

Homeowner’s insurance will likely not cover any injuries resulting from an intentional act on your part. So if you assault someone on your property knowingly, especially someone who was there with your consent or permission, and they file a complaint, your insurance agency coverage won’t protect you.

For further clarification on lawsuits, visit or contact us at Franklin Insurance Agency, and we will answer all your questions.

Three common questions regarding RV insurance

Having an RV insurance policy is essential for residents in Rio Rancho, NM who own an RV. We provide RV insurance policies at Franklin Insurance Agency, and we can help you cover your liabilities and protect your assets with the policies we offer. 

The following are three common questions you should be asking about RV insurance if you’re currently looking for the right policy.

What will an RV insurance policy provide coverage for?

What your RV insurance policy covers depends on what types of coverage you invest in. If you invest in only liability insurance, your RV insurance policy will cover the costs of any damages you are determined to be at fault for. 

If you invest in collision and comprehensive coverage, your policy will cover the costs of damages to your own RV. You could also opt to invest in contents coverage. In this case, your policy will cover the costs of damage to the possessions that you have within your RV.

Is it necessary to have coverage during times when I don’t use my RV?

It’s not a good idea to stop carrying coverage for your RV just because you’re not using it for a period of time. If you did this, you won’t enjoy coverage for damage to your RV that occurs while your RV is in storage.

Note that you can enjoy reduced policy premiums for RV coverage if your RV is not being used. Update your policy to indicate minimum usage of your RV and you’ll be surprised at how little continued coverage costs.

What impacts my RV insurance needs?

One of the most important factors impacting RV insurance needs is how much time you spend on the road in your RV. If you live in your RV full time, you need to specify this in your RV insurance policy and invest in more coverage. 

Get in touch with us today to learn more about RV insurance in Rio Rancho, NM. At Franklin Insurance Agency, we’re here to help you with your insurance coverage needs!

What is Umbrella Insurance and How Does It Work?

Umbrella insurance is a specific type of coverage that protects you from being sued if the limits of your primary insurance are exceeded. In other words, umbrella insurance is an addition to your standard liability coverage. For example, if you injured someone with your vehicle and there is a substantial claim or lawsuit against you that is not covered by your primary insurance, umbrella insurance will cover it. Umbrella insurance will also cover the things that are not included in your standard policy, such as liability on rental properties, libel, and others. 

Typically, umbrella insurance covers the following: 

  • Liability coverage for the events that occur on and off your property
  • Additional protection above your standard auto coverage
  • Protection for personal injury claims, including wrongful eviction, slander, false arrest, and libel
  • Legal defense costs, including court costs and attorney’s fees
  • Protection for claims of property damage or personal injuries caused by your or your family member, as well as damage caused by hazards, for which you are found liable.

How Does It Work?

Depending on the type of claim against you, your auto, home, renters, or boat insurance will be utilized first. Once the basic liability limit is reached, umbrella insurance will cover the remaining costs. Most insurance companies require you to have a home, auto, or renters liability insurance that is equal to the amount of umbrella insurance deductible. 

Having umbrella insurance is not a requirement – it is your personal choice. However, if you want to have the additional protection of your property and yourself, it is the type of insurance you should have. If you are a resident of Rio Rancho, NM or any other neighboring town and you need umbrella insurance, our Franklin Insurance Agency is here to help. Our fully trained insurance agents with decades of experience will answer all your questions and help you find an insurance policy you deserve. Visit our office in Rio Rancho, NM or call Franklin Insurance Agency to find out what we can do for you. 

Is Motorcycle Insurance Required in New Mexico?

Your knees to the sky and the wind in your hair are two of the feelings of freedom riding on your motorcycle can provide you with, but to truly feel that sense of freedom, you need peace of mind. To achieve that,  you need to make sure your beloved motorcycle is adequately insured, and for riders in New Mexico, there are minimum requirements you must meet to ride your bike legally.

Minimum Requirements for Motorcycle Insurance for New Mexico Riders

In New Mexico, you must purchase liability insurance that will cover others if you have an accident that causes an injury to someone or damage to someone’s property. The state-mandated requirements dictate that you must have at least $25,000 of bodily injury coverage per person, $50,000 of bodily injury per accident, and $10,000 property damage per accident. After you meet the minimum requirements, you can decide, with the help of a trusted motorcycle insurance agent, as to other coverage options you may want to obtain.

Other Motorcycle Insurance Coverage Options.

Uninsured/Underinsured Coverage

This type of coverage will provide financial protection for you and your passengers if you are involved in a crash with a motorist who has no insurance or not enough insurance to cover injuries to you or your passenger.

Collision and Comprehensive Coverage

Your lender may require collision insurance if you have borrowed the money to purchase your motorcycle, and even if you are not required to have it, this type of policy will provide you with more peace of mind. It covers any damage your motorcycle sustains if you are involved in a collision with another vehicle if you fall off your cycle, or your cycle is damaged by debris or another object while out to the roadway.

Comprehensive insurance will cover your cycle if it suffers damage from vandalism, a fire, or natural disaster. This type of policy will also cover your motorcycle if it is stolen.

To determine the best coverage options for you and your motorcycle, visit an insurance agent you can trust who has experience with motorcycle insurance, such as the motorcycle insurance experts at the Franklin Insurance Agency in Rio Rancho, NM.