We Insure News
- You’ve got no choice, it’s the law!
Businesses who employ staff are required by law to provide certain types of insurance, such as workers compensation and unemployment and disability. A failure to do so could see businesses having to fork out thousands of dollars in fines, face civil or criminal penalties and even ‘cease and desist’ orders, any one of which could spell financial ruin and cost far more than an insurance policy ever would.
- Being sued becomes a distinct reality:
Businesses have folded over lawsuits or liability claims, and without appropriate insurance, yours could face this, too.
- What happens in the event of a natural disaster?
Good insurance coverage can help businesses stay afloat in the wake of natural disasters, and with Business Owners Insurance, your business could survive and even go on to thrive, after a natural disaster has struck.
- Are you a safe bet?
You may think you’re a safe bet, but nothing shows prospective clients and customers that you are than having business insurance.
- Employee protection:
All good business owners should know that their employees are their most valuable asset and protecting them with sound insurance, is always going to be a wise investment.
- Protecting your own assets:
Payments from company-owned life and disability insurance policies can help to cover the loss of income generated in the event of your death or inability to work due to injury or sickness and provides funds for the purchase of your interest under a buy-sell agreement.
- Helping to attract and keep good employees:
Employees are always going to be attracted to a company who takes the effort to protect their staff through various insurance policies, and they are far more likely to stay with that company, too. While most employees find a good salary to be one of the key factors that helped them decide whether they should join a company, or stay with one, they also look for benefits packages that include life, health, disability and long-term care insurance.
- Some contracts may demand it:
As a business, you may need to have insurance if you rent or lease the premises, if you borrow money to finance buildings, equipment or operations, or if you have client contracts that specify you carry insurance in the event of things not going to plan.
- The future is anyone’s guess!
Natural disasters, accidents in the workplace or lawsuits from employees are all things that can happen to any business, at any time, and while there is no guarantee that these things will happen, nor is there any guarantee that they won’t.
Protect yourself, protect your business and protect your employees: these simple rules when followed, can help insure the longevity and success of your business and your future as a whole.
[meta_title] => 9 Reasons Why It’s Essential To Insure Your Business
[meta_description] => There are a multitude of risks at play for those running a small business, whether it be from an employee harming themselves while at work or a natural disaster destroying the premises, and protecting your assets as a business owner, has never been more essential.
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[publish_date] => 2019-09-05 11:15:00
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[blog_title] => Car Insurance Policies Explained
[blog_description] => It can sometimes be difficult to know what type of insurance you need for your car, so here are a few simple guidelines for choosing the right policy for your new set of wheels:
Liability insurance:
This type of policy covers you if you’re in a car accident that was determined to be your fault and will cover the cost of repairing property that may have been damaged in the crash, plus any medical bills should you require hospital treatment.
In most states, there is a minimum requirement for how much liability insurance you purchase, and if you can afford it, it’s sensible to have a policy that is above your state’s minimum liability requirements, giving you extra protection if you’re found to be at fault of causing an accident in your car.
Coverage for collisions:
Collision coverage will pay for any repairs to your car if you’re involved in the type of accident that this policy covers, and if your car is a write-off, it will also pay the value of your car. For older cars, collision coverage may not be worth it.
Comprehensive insurance:
Let’s say your car is badly affected by weather damage, you have a collision with a large animal, or your car is stolen, comprehensive insurance will cover you under all these circumstances. While this type of coverage may cost more, it covers you for more. However, if you can’t afford this type of insurance, it may not be necessary anyway, especially if your car can easily be replaced.
Personal injury protection:
This type of insurance coverage can be a life saver if you’re involved in any type of accident and need medical treatment for you or your passengers, no matter who was at fault. Medical bill costs can mount at an alarming rate, but Personal Injury Protection will help you manage them, but do note that this type of insurance is not available in every state.
Protection for uninsured or underinsured motorists:
If someone is found to be legally responsible for paying damages after an accident, but their car insurance isn’t high enough to cover the full cost of expenses incurred, or they don’t even have coverage, then Uninsured and Underinsured Motorist Protection could significantly reduce the risk of you having to pay out large sums of money after a collision.
For more detailed advice and guidance about what coverage would best suit you and your motoring needs, make an appointment to discuss your insurance policy options with a reputable insurance firm.
[meta_title] => Car Insurance Policies Explained
[meta_description] => It can sometimes be difficult to know what type of insurance you need for your car. For detailed advice and guidance about what coverage would best suit you and your motoring needs, make an appointment to discuss your insurance policy options with a reputable insurance firm.
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[publish_date] => 2019-10-08 21:20:00
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[blog_title] => The Lowdown On Home Insurance
[blog_description] => Home insurance can give you the peace of mind that you need after purchasing a new property, which was doubtless not an entirely stress-free process, as it invariably never is! Covering damage to your property, risk of liability and protecting you against any legal claims, home insurance is essential for any homeowner. However, not all policies offer the same coverage:
Which insurance policy might be best for you and your home?
There are multiple types of policy options when it comes to protecting your home, just as there is with any other type of insurance. Here are the main ones in more detail:
- HO-1
This limited policy covers 10 perils (such as fire, vandalism, lightning or an explosion, to name but a few) compared to the 16 covered under equally affordable standard policies. Not including personal liability for injuries incurred while on your property, or automatically covering your belongings, a lot of mortgage companies don’t think these give as much coverage as is needed.
- HO-2
Usually covering all 16 named perils, this insurance is on the basic side with lower premiums and a lower level of coverage, but it is a ‘named peril’ policy, meaning that damage caused by events other than those listed on your policy, will not usually be covered.
- HO-3
Covering all disasters except those that are specifically excluded, this type of policy is perhaps the most popular one and protects you against any and all perils that are not specifically mentioned in the exclusions. This policy also covers attached structures, such as a deck or a garage, plus your belongings, and includes personal liability coverage should you accidentally injure someone or damage their property. That said, what is not covered, will depend on your specific policy.
- HO-4
Aimed at renters, this coverage protects your belongings against all 16 perils, but will not cover the building that you live in, as the landlord is responsible for that. If someone is injured in your home, or you need to pay for alternative accommodation while your landlord repairs or renovates the property, most HO-4 policies provide you with liability insurance.
- HO-5
If your home is new or in excellent condition, then this more comprehensive version of the HO-3 policy will be available to you provided you live within close distance of fire protection services. This coverage protects you financially against all perils unless they’re specifically excluded in writing and gives you better protection for your personal belongings than a HO-3.
- HO-6
Much like renter’s insurance, this condo or co-op policy covers the personal property of condo owners against all 16 perils and usually includes liability insurance. This coverage typically extends to the walls, ceilings and floors of your residence, while the building itself would be insured by the association.
- HO-7
This type of policy is for mobile or manufactured homes.
- HO-8
Designed to insure older properties, this coverage is like an HO-3 but has special elements to better protect older homes. Historic and registered landmark homes often have this type of coverage.
If you’ve just bought your first home, are shifting address, or have just moved into a rented property, then you’ll need to put purchasing home insurance, at the very top of your to-do list. To discuss your insurance needs in more detail, talk to your local, trusted insurance provider.
[meta_title] => The Lowdown On Home Insurance
[meta_description] => Home insurance can give you the peace of mind that you need after purchasing a new property, which was doubtless not an entirely stress-free process, as it invariably never is! Covering damage to your property, risk of liability and protecting you against any legal claims, home insurance is essential for any homeowner.
[featured_image] => 1570638653_Home Insurance.jpg
[publish_date] => 2019-10-02 21:50:00
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[blog_title] => The Dangers Of Too Much Or Too Little Auto Insurance
[blog_description] => We all want to
try and save money on our car insurance premiums, but we should always have a
clear idea in
our minds of why we have it in the first place, and just how important it is.
For
instance, if you
have an accident while travelling in your car, and especially if you caused it,
car
insurance can
help protect you from having to pay out thousands in damages and repairs, the
cost
of which can be
crippling for those without protection.
Can’t you just have minimum coverage?
Well yes, you can of course have the minimum coverage required by the law in your state, but while you might be all legal and above board, the policy may fall way short of the coverage that you need if you have a serious accident in your car. In fact, if you’re coverage is inadequate in the event of an accident, you can personally be held liable for any damages that you’ve caused. So, the long and short of it is that it makes absolutely no sense to have insufficient coverage, whether it’s legal or not.
How can you judge how much coverage you’ll need?
Think about the overall value of any assets that you have; if you’re a young, unmarried person with no real assets to speak of, such as property, savings or investments, then you may get away with minimum coverage for your vehicle. However, if you do have assets that amount to at least a few thousand dollars, then you’ll need greater coverage. Lawsuits after an accident are common and can end up costing you a significant amount of money, and if you have substantial assets, you’ve got more to protect and so will need a level of coverage that is much higher.
Is it possible to have too much coverage?
Yes, it is possible. Aside from the fact that you might be paying over the odds for a policy with an excessive amount of coverage, a larger policy can make you a prime target for frivolous lawsuits. When the complainant initiates a suit, the attorney will look at the amount of coverage that you have, and the larger that coverage, the more the complainant may be likely to squeeze from you.
It’s not always easy to know exactly what type of coverage you should get when insuring your car, but the best advisors are those who specialize in auto insurance and who can give you an unbiased rundown of your choices. For more detailed advice and guidance, contact your local auto insurance specialists. [meta_title] => The Dangers Of Too Much Or Too Little Auto Insurance [meta_description] => We all want to try and save money on our car insurance premiums, but we should always have a clear idea in our minds. [featured_image] => 1573476834_car insurance.jpg [publish_date] => 2019-11-06 11:55:00 [blog_category] => 1 [status] => 1 [date_added] => 2020-01-29 04:21:13 [featured] => https://weinsurehosting.com/assets/featured/1573476834_car insurance.jpg [blog_categories] => Blog, ) [7] => stdClass Object ( [id] => 252 [franchise_id] => 105 [blog_title] => Answering Your Renters Insurance Questions [blog_description] => You may not own your own home, but that doesn’t mean that you don’t own all the valuable items inside it, which is when renter’s insurance comes into play. With coverage that varies from replacing personal property if it gets broken or stolen, to protecting you from identity theft, this insurance can be hugely beneficial for tenants of rented properties.
What are the coverage limits for renter’s insurance?
Each policy will have its limits, or the maximum amount that the policy will pay you should you have any personal property or liability losses. Knowing the basic coverages will enable you to make a better decision about which type of coverage would work best for you:
- Personal property coverage:
- Liability coverage:
- Loss of use coverage:
- Optional coverages:
What about roommates?
Unrelated people living in your rental property, such as roommates, can complicate the coverage, and they’re personal items are not usually automatically covered unless they’re specifically listed on the policy. That said, each state has their own rules when it comes to these cases, so it would make sense to check such matters directly with your insurer.
Insurance coverage is easy when you know what to look out for and are clear on what level of coverage you want. However, renter’s insurance can be just as confusing as any other type of coverage, so be sure to talk things over with your provider before you sign up for anything. [meta_title] => Answering Your Renters Insurance Questions [meta_description] => You may not own your own home, but that doesn’t mean that you don’t own all the valuable items inside it, which is when renter’s insurance comes into play. [featured_image] => 1573477797_Renters Insurance Questions.jpg [publish_date] => 2019-11-08 16:30:00 [blog_category] => 1 [status] => 1 [date_added] => 2019-11-11 08:10:46 [featured] => https://weinsurehosting.com/assets/featured/1573477797_Renters Insurance Questions.jpg [blog_categories] => Blog, ) [8] => stdClass Object ( [id] => 259 [franchise_id] => 105 [blog_title] => How Much Dwelling Coverage Do You Need? [blog_description] => When thinking about home-owners insurance, it’s important to consider dwelling coverage and to ensure that you have an adequate amount for your home. Read on to know more about dwelling coverage, from how much you should have to calculating the replacement cost of your property:
What is dwelling coverage?
If your home should become destroyed for any reason, or become uninhabitable due to damage, then dwelling coverage should help you cover the costs of rebuilding it. This coverage is mainly concerned with the structure of your home, the materials it was built with and anything that might be attached to it, such as a garage or porch.
How much dwelling coverage do you need?
You would of course need enough coverage to equal the cost of replacing your home, but it can be tricky to calculate this. Here are 3 steps that should get you close to an accurate estimate:
1. Multiply the square footage of your home by the local construction costs
These costs can be found on the websites of most construction companies, or you can ask your local insurance agent to help you out.
2. Use an online calculator to get a second estimate
Free online calculators are available to help you, that use the square footage of your home, building materials and total number of rooms to give you a fairly accurate replacement cost.
3. Get an estimate from a professional
Independent insurance agents local to the area will be able to help you calculate a highly accurate estimate of the replacement cost of your home.
What factors might affect the replacement cost?
There are several factors that might affect the replacement cost of your home, and as these can change, it’s best to reassess the cost every couple of years:
- Building codes
- Re-modelled kitchens
- Extra rooms and/or structures
- Cost of building materials and construction costs
- Unique features
To get the full lowdown on home-owners insurance and to be sure that you have the coverage you need, schedule an appointment with a commercial property insurance who can talk you through your options in person. [meta_title] => How Much Dwelling Coverage Do You Need? [meta_description] => When thinking about home-owners insurance, it’s important to consider dwelling coverage and to ensure that you have an adequate amount for your home. [featured_image] => 1575897304_Dwelling.jpg [publish_date] => 2019-12-09 16:25:00 [blog_category] => 2 [status] => 1 [date_added] => 2020-01-28 07:58:03 [featured] => https://weinsurehosting.com/assets/featured/1575897304_Dwelling.jpg [blog_categories] => News, ) [9] => stdClass Object ( [id] => 260 [franchise_id] => 105 [blog_title] => What Is Commercial Property Insurance And Do You Need It? [blog_description] => Whether you own your own building, lease your company premises or work from home, business property insurance is a necessity, and here’s why:
What is commercial property insurance?
This insurance protects the physical assets of companies that have been affected by fire, storms, theft, vandalism and many other forms of destruction. Perils such as floods and earthquakes can be included in the coverage, but usually only if added to the policy.
What does it cover?
Coverage includes the building in which the company operates, everything inside the building and some items on its perimeters. These can include:
- Computers and other electronic equipment
- Furniture
- Exterior signs
- Important documents
- Fences and landscaping
As the owner of a commercial building, do you need commercial property insurance?
If you’re running a business from a commercial building that you own, then without adequate insurance to protect it from such events as fire, storm damage and theft, your investment could be left hanging in the balance. The IPF, or Investment Property Forum, advise that many commercial properties are especially susceptible to environmental factors that can lead to catastrophic loss or damage of the premises, such as from floods or land contamination. It goes without saying that if any equipment or machinery that is used to make your product or provide a service becomes damaged, and you don’t have the insurance to cover it, your business could very quickly be at threat.
Also, as the owner of the commercial building, you are liable for any injuries or damage sustained to the property by third parties, who may then go on to make claims for substantial damages if you’re found to be negligent in your duty of care.
Your duty of care - as the owner of a commercial property - is also extended to any tenants that may be using the premises, and your indemnity against any claims they may make is secured by commercial landlord’s insurance.
You may not know that whether you use your commercial property yourself, or have leased it to tenants, you have a legal obligation to hold employer’s liability insurance, and this helps protect you from claims made by any employee (past or present), who suffers an injury because of work carried out for you.
What if you lease commercial property?
While as a tenant leasing a commercial building, your landlord is likely to have arranged building insurance, you still need to protect the contents of the building that belong to you, and this best done through commercial property insurance. Your landlord may also have arranged property owner’s liability insurance, but you may still be left liable for claims made by visitors to the premises, or from neighbours or member of the public who suffer an injury, or have their property damaged as a result of your business practices.
If you’re the leaseholder of the premises from which your business operates, and are employing workers, then again, you have a legal obligation to hold employer’s liability insurance to meet any claims from past or present employees.
So, if you own or lease a commercial property, then you will almost certainly be required to have commercial property insurance. To know more about what policies are available, talk to your local insurance experts. [meta_title] => What Is Commercial Property Insurance And Do You Need It? [meta_description] => Whether you own your own building, lease your company premises or work from home, business property insurance is a necessity, and here’s why: [featured_image] => 1576156082_commercial property insurance.jpg [publish_date] => 2019-12-11 16:30:00 [blog_category] => 2 [status] => 1 [date_added] => 2020-01-28 07:48:02 [featured] => https://weinsurehosting.com/assets/featured/1576156082_commercial property insurance.jpg [blog_categories] => News, ) [10] => stdClass Object ( [id] => 261 [franchise_id] => 105 [blog_title] => Do You Need Flood Cover In Your Home Insurance Package? [blog_description] => With global warming becoming a huge and growing concern for everyone, no matter where you live in the U.S., it’s time that we face the reality and prepare ourselves for every environmental eventuality, including flooding.
Even if drastic efforts to tackle global warming are brought in today, around 350,000 homes state-wide are already constructed on land that is known to be at risk from flooding, and if no urgent steps are taken, this figure is set to increase to 385,000. Many of these homes are in major metropolitan coastal areas such as New York City, Miami Beach and the Bay Area, and where real estate prices are higher.
So, with the threat of flooding on the increase and many homes at risk of damage or complete destruction, perhaps it’s time you thought about including flood cover in your home insurance policy:
I don’t live in a flood risk area; do I need flood cover?
While most associate flooding with intense or prolonged rainstorms, it’s important to remember that other weather conditions can also cause flooding, such as melting snow or a severe coastal storm surge. Statistics show that 1 in 5 flood insurance claims comes from a homeowner living in an area not classified as being at a low or medium risk.
Doesn’t my home insurance policy cover flood damage?
In short, no, not usually. If groundwater rises and floods your home, causing damage and often leaving it uninhabitable for weeks if not months to come, your standard home insurance policy will not give you any, or adequate protection.
What parts of the home are covered by flood insurance?
In general, most areas of a standard home will be covered by the flood insurance policy. While basements may require extra protection, the core parts of your home such as the foundations and those systems that keep it running, are covered, as are appliances, carpeting and personal belongings.
How much will flood insurance cost?
Fortunately for the consumer, unlike most other insurance packages, flood insurance costs the same no matter who, or where you purchase it from. This is because the federal government backs a national program via the National Flood Insurance Program, meaning that wherever you are in America, your insurance plan is coming from the same place, keeping the price the same.
While we would all prefer not to have to cover our homes and possessions from the risk of natural disasters or any other types of events that can cause our homes to flood, the reality is that the risk is always there wherever you live, and whatever type of home you live in. To make sure that you’ve got all the coverage you need in case of a potentially devastating event such as a flood, book an appointment with a qualified and reputable insurance firm today. [meta_title] => Do You Need Flood Cover In Your Home Insurance Package? [meta_description] => With global warming becoming a huge and growing concern for everyone, no matter where you live in the U.S., it’s time that we face the reality and prepare ourselves for every environmental eventuality, including flooding. [featured_image] => 1578313270_Home Insurance Package.jpg [publish_date] => 2020-01-03 16:30:00 [blog_category] => 2 [status] => 1 [date_added] => 2020-01-28 07:48:53 [featured] => https://weinsurehosting.com/assets/featured/1578313270_Home Insurance Package.jpg [blog_categories] => News, ) [11] => stdClass Object ( [id] => 262 [franchise_id] => 105 [blog_title] => Choosing The Right Insurance Package For Your Small Business [blog_description] => As the owner of a small business you’ll want to give your employees a benefits package, not only because it’s good for them, but it can save you money at tax time. However, you may not be entirely sure what a benefits package should include.
To help you decipher which insurance package would be best for your workers, here are a few pointers:
What should a small benefits package include?
Experts say that a good small business benefits package should include health insurance, some life and disability insurance and a retirement savings plan. However, this may not necessarily be applicable for your small business depending upon your budget and employee needs. Let’s look at each one in a little more detail:
- Health insurance
- Life and disability insurance
- Retirement savings plan
Are small business benefits packages worth the money?
With statistics showing that more than 70% of employees would prefer more benefits over an increase in their pay, offering a benefits package to your workers, seems as if it would always be worth the cost.
If you choose to offer your employees a small business benefits package, you could stay competitive as an employer and a business without having to raise anyone’s salaries, and with a wide selection of packages available, you’re sure to find one that suits your budgetand the needs of your employees. [meta_title] => Choosing The Right Insurance Package For Your Small Business [meta_description] => As the owner of a small business you’ll want to give your employees a benefits package, not only because it’s good for them, but it can save you money at tax time. However, you may not be entirely sure what a benefits package should include. [featured_image] => 1578569342_Right Insurance Package For Your Small Business.jpg [publish_date] => 2020-01-09 14:25:00 [blog_category] => 2 [status] => 1 [date_added] => 2020-01-28 07:49:15 [featured] => https://weinsurehosting.com/assets/featured/1578569342_Right Insurance Package For Your Small Business.jpg [blog_categories] => News, ) [12] => stdClass Object ( [id] => 275 [franchise_id] => 105 [blog_title] => How To Avoid Gaps In Your Condo Insurance Coverage [blog_description] =>
Condo associations have Master Insurance policies that cover common elements and events, but which rarely provide adequate cover for what you may be personally liable for without an individual HO-6 policy.
Most condo residents, when looking outside of the master insurance policy, tend to search for the cheapest and speediest individual insurance policy which gives only enough coverage to meet the lenders minimum requirements, but this could be an even faster route to getting hit with a bigger claims bill. Here’s why:
Gaps in coverage that put you at risk:
With more and more condo’s facing challenges due to water damage and freezing, as the claims rise and property damage costs increase, many insurance providers are starting to make changes to their existing coverage which could increase your risk exposure.
Let’s look at the differences between the coverage provided by master insurance policies, and those provided by individual policies:
Items not covered by master insurance policies:
These items are also not generally classed as the associations responsibility and can include:
- Personal property – this can include clothes, furniture, jewelry and money to name but a few
- Betterments and improvements – any upgrades that were carried out after the initial conveyance
- Additional living expenses – this can include the cost of living at a temporary location, storage fees, loss of rents etc
- Personal liability – this can protect you against bodily injury or property damage claims that arise from your unit
- Loss assessment – If the master policy limits have been exhausted but there is a covered cause of loss, then this would apply to all unit owners
- Medical payments – no fault coverage available for injured guests within your unit
However, if as a condo owner you purchase an HO-6 insurance policy – which is also required by lenders – the above items will be covered.
Dwelling coverage:
To avoid significant costs incurred by expenses that you may be held responsible for by the condo association under the master policy deductible – something caused by the owner’s act, neglect, misuse or carelessness – dwelling coverage should be included in every HO-6 policy.
As mentioned previously, there has been a rise in water damage losses causing carriers to increase their deductible, so reviewing your dwelling coverage is imperative if you want to avoid being out of pocket.
Many condo communities require that homeowners have at least $25,000 of dwelling coverage to indemnify them for the deductible expense in the event a claim arose from their unit, and if coverage is not available, the homeowner would have to pay this expense personally, or the association could place a lien on their unit.
Dwelling coverage should also include a homeowner’s betterments and improvements, including those completed by prior owners, and most lenders will require at least 20% of the unit’s market value insured under this coverage as well.
If you’re a condo owner and want to ensure that your insurance coverage is adequate, then speak to a professional insurance agent today, before it’s too late!
[meta_title] => How To Avoid Gaps In Your Condo Insurance Coverage
[meta_description] => Condo associations have Master Insurance policies that cover common elements and events, but which rarely provide adequate cover for what you may be personally liable for without an individual HO-6 policy.
[featured_image] => 1581347705_Condo Insurance.jpg
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[blog_title] => 5 Reasons Why Business Owners Need General Liability Insurance
[blog_description] => The purpose of insurance is to protect individuals and business owners from costs and legal action that may arise as a result of certain liabilities, and but not everyone, however, believes it to be necessary.
Here are 5 reasons why, as a business owner, you should have an active general liability insurance policy:
- Clients often require you to have it
This is the most common reason why business owners should ensure that they have taken out a general liability insurance policy, because if your client requires you to have one and you don’t, they’ll simply take their business elsewhere.
- To protect you when clients visit your workplace
Many businesses see their clients visiting them on site, and if one of them should happen to have an accident while they are there, or damages your property in some way, then this type of insurance will protect you against potential lawsuits and/or medical payments.
- Protecting your employees when they go to third party locations
You may not realise it, but when you send an employee to a third-party location, then you and your business are responsible for them and any work that they carry out there. Any work carried out off site needs to be insured adequately, and should they injure themselves or anyone else, or cause damage to property, you need to know that you won’t be hit with expensive lawsuits and/or medical bills.
- To provide coverage in the event of damage to a client’s equipment
It is not unheard of for some businesses to take care or control of their clients’ equipment, but if some event such as a fire or theft occurs, then without general liability insurance, you could find yourself knee deep in claim costs. If you are working with a company’s network, server or systems integration, then this type of coverage is essential as it protects you against costs incurred from damage to computer equipment caused by power failures or viruses.
- Protecting you when you speak about a client and their business
Words such as ‘libel’, ‘slander’, ‘disparagement’ or ‘infringement’ may be used against you when you’re asked to write or speak about a clients’ business, but if you have an active general liability insurance policy, you will be better protected. This type of coverage is designed to give protection against lawsuits that may arise from the publication of material that slanders or libels another person or organisation, and can cover legal defence costs from those claiming false, malicious or misleading statements in advertisements, promotional flyers, brochures or websites.
So, if this still hasn’t convinced you that you need general liability insurance, it might be best to speak to a business insurance professional, who can explain in further detail the benefits of this type of coverage.
[meta_title] => 5 Reasons Why Business Owners Need General Liability Insurance
[meta_description] => The purpose of insurance is to protect individuals and business owners from costs and legal action that may arise as a result of certain liabilities, and but not everyone, however, believes it to be necessary.
[featured_image] => 1581349211_General Liability Insurance.jpg
[publish_date] => 2020-02-10 05:05:00
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[blog_title] => What Does Homeowners Insurance Typically Cover?
[blog_description] => While almost every homeowner’s insurance policy is different, there are some things that most have in common, and here we look at those in a little more detail:
What is typically covered in a standard homeowner’s insurance policy?
Most policies cover a wide range of possible damages, along with coverage for your physical dwelling and other structures such as garages, sheds and driveways, and personal property is generally accounted for, too. If you’re running a business anywhere on your property though, a standard homeowner’s insurance policy may not cover many aspects of that. Personal property coverage is sometimes referred to as ‘contents insurance’, and may be limited to certain high-value items such as jewellery or artwork.
Let’s look in a little more detail at some of the different types of coverage included in homeowner’s insurance policies:
Fire coverage:
Fires in the home can cause a lot of damage, and almost every policy protects structures and belongings in the event of a house fire. In the case of a home being destroyed by a fire and becoming inhabitable, standard policies cover extra expenses such as additional living costs and restaurant bills.
Natural disaster coverage:
Not all the natural disasters are covered by a standard homeowner’s insurance policy, but damage caused by lightning, thunderstorms, hurricanes and hail are usually covered. For more detailed information about other natural disasters that may not be covered, speak to a professional insurance expert who can assess the risk of certain events occurring in your region, and better advise you as to what your policy should include.
Flood coverage:
If your home has been flooded due to weather related events, then a standard policy will probably not cover you, and if you live in a flood prone zone, it might be worth investing in extra coverage to ensure that you’re protected in the event of a flood that damages your home. If you’ve had a pipe burst or a toilet overflow, on the other hand, most standard policies will cover you for this.
Vandalism coverage:
Coverage that includes an all-risks or all-perils policy should cover you in the event of vandalism to your home, unless it has been specifically excluded. If your property has been vacant for some time, it may not be covered unless it still contains your personal property, or the property of whomever owns the insurance policy.
Personal injury:
If an injury occurs to someone else while they’re on your property in which you are liable, then a standard homeowner’s policy will cover this. This might include an event such as someone slipping on ice that’s on your front walk or falling and hurting themselves because of a missing or broken step, for example. You might want to talk to an insurance provider as to exactly what your coverage includes as it is usually limited to a certain dollar value.
If you’re looking for coverage that protects you against more than just the basics, talk to an insurance expert today to make sure that you’re fully protected, before it’s too late.
Insurance coverage for automobiles is typically split into 3 main components, and these are liability coverage, comprehensive coverage and collision coverage. To get the right insurance policy for you and your automobile, you need to understand each of these fully, and here they are in a little more detail, along with additional coverage options that can be added to most standard policies:
Liability coverage:
If you cause damage to someone else or their property while behind the wheel, then this policy will protect you financially. It’s generally split in to separate provisions, such as property damage liability and personal liability. Simply put, liability coverage means that your insurance company will pay to replace any damaged property, pay to make repairs to someone’s car or replace it if you’ve damaged it, or pay medical costs or loss of earnings to the victim of an
accident that you caused.
This coverage also protects you if someone else decides to sue you and will cover the cost of legal bills or lawsuit settlements up to the limits of your coverage.
Comprehensive coverage:
If your vehicle has been damaged by vandalism, fire, flood, a natural disaster or by anything that wasn’t incurred as the result of an accident, then this type of coverage will pay the repair costs. If your car is stolen, then this coverage will pay to replace it.
Collision coverage:
If you’ve caused an accident or had a collision while in your vehicle, then collision coverage will pay to replace it. If you don’t have collision coverage as part of your policy, then your liability coverage will only pay for the victims of the accident damages and will not help with the cost of replacing your vehicle.
This type of coverage can of course send the cost of your policy skyward, so it should only be purchased if you know that your car is worth enough to you to make paying the added premiums worthwhile.
Uninsured/underinsured motorist coverage:
If you’re injured or your vehicle is damaged by someone who doesn’t have enough insurance to cover the associated costs, then this policy will protect you. It can also offer you financial protection should you be unfortunate enough to be the victim of a hit-and-run incident.
Personal injury protection:
If you’re involved in an accident in your automobile, then this provision will cover the cost of any ensuing medical bills that you, passengers or others in your family incurred as a result. If you already have medical insurance, then you may not need to add this provision to your policy.
Most insurance providers also give other provisions that may be added to standard policies, such as if you want rental car coverage, roadside assistance or towing coverage. To help you understand and evaluate which type of coverage you need, speak to an insurance professional about the various options available to you.
[meta_title] => What Are Your Coverage Options When Choosing An Auto Policy?
[meta_description] => Insurance coverage for automobiles is typically split into 3 main components, and these are liability coverage, comprehensive coverage and collision coverage.
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[publish_date] => 2020-03-03 01:20:00
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[blog_title] => COVID-19 UPDATE from WeInsureMiami.com
[blog_description] => Our priority is the health and well-being of our clients, staff, family and friends and we hope and pray that this serious event is resolved as quickly as possible. WeInsureMiami.com is implementing social distancing and work from home policies.To that end, in office meetings will NOT be available until further notice.
Our team will continue to work diligently on all payroll, tax and accounting matters and will continue to conduct business as usual, with the exception of in office meetings.
Should you have any questions or concerns regarding your tax, payroll or accounting matters, please call us at 786-623-2123, text us at 786-614-9205, or email at michael.martin@weinsuregroup.com or ralf.heyer@weinsuregroup.com. [meta_title] => COVID-19 UPDATE from WeInsureMiami.com [meta_description] => Our priority is the health and well-being of our clients, staff, family and friends and we hope and pray that this serious event is resolved as quickly as possible. WeInsureMiami.com is implementing social distancing and work from home policies. [featured_image] => 1584636518_Corona.jpg [publish_date] => 2020-03-13 13:10:00 [blog_category] => 2 [status] => 1 [date_added] => 2020-03-19 12:58:00 [featured] => https://weinsurehosting.com/assets/featured/1584636518_Corona.jpg [blog_categories] => News, ) [17] => stdClass Object ( [id] => 293 [franchise_id] => 105 [blog_title] => Content Coverage For Renters; Which Policy Do You Need? [blog_description] =>
If you’re a renter, you may be wondering what type of insurance you need and what your coverage should include. Here are some of the categories that you may find useful when weighing up the costs and benefits of content coverage as a renter:
Top-Tier policies:
These low deductible policies with high coverage limits are intended to reduce your financial exposure to a total loss, along with minimizing itemized losses on items of a higher value. These do come with higher premiums than national averages, but you are granted more peace of mind
when you purchase one of these policies.
If you have some items in your possession that are of high value, a top-tier policy may be required, but be sure to check that your chosen policy adequately covers these items, and your insurance provider can help you with this.
Family policies:
With low to moderate deductibles and high limits of coverage, these policies are ideal for families or couples of middle-class standing who have no plans to cease renting in the immediate future. Those who choose this type of coverage typically have lots of items they need to protect but cannot afford (or are not willing to pay for) top-tier coverage.
If you’re part of a growing family, it might be sensible to add an emergency fund to this type of policy.
Middle-Of-The-Road policies:
This type of policy is popular among the younger community of upwardly mobile renters who have relatively highly paid jobs, but who don’t own many items of great value and have not yet started a family. With larger deductibles and lower coverage limits, this policy can be useful for protecting certain things such as electronic equipment, clothing and other items that may be valuable to the individual, but which do not have a high financial value.
As with a family policy, it might pay to complement this policy with an emergency fund.
Low Cost policies:
Low cost insurance policies are a good choice for those on a lower income, such as students or recent graduates. For those with no possessions of a particularly high value, and who won’t be financially devastated if they are forced to replace certain items, a low-cost policy is like a ‘catastrophic’ health insurance policy and comes with high deductibles and low coverage limits. While this type of policy might not enable the individual to replace many items in one go, with an emergency fund, it should prove more than adequate.
Talk to your insurance provider about what type of coverage would best suit your current needs and ensure that you carefully and closely examine your circumstances and priorities.
With more and more Americans forced to spend an inordinate amount of time in their homes than would usually be the case, the chances of needing to file insurance claims may also increase. Wear and tear, especially when incurred over an intensified time frame, could lead to property damages, not to mention an increased risk of bodily harm as more individuals use home delivery options. Imagine if someone delivering food or supplies to your door, slips on your
porch during inclement weather and breaks a limb or injures themselves in any way. Your liability coverage may never have been so important.
But what if, under the current circumstances, someone claims that they caught the potentially deadly virus while in your house?
Could you be held liable for someone else getting infected?
While this may seem ludicrous, it’s worth giving some thought to the issue, and seeking professional advice as to where you stand from a legal perspective should someone claim that they caught Covid-19 while in your property.
However, this question may not need to be answered by the providers of home and renters’ insurance, since many policies already contain virus and pathogen exclusions, which could apply to such types of coverage as liability, loss of use and physical damage.
When all is said and done though, these are unique times and unique circumstances that none during our lifetime have previously faced, so it pays to be cautious and avoid complacency. Experts advise homeowners and renters to use this time to review their insurance needs and check that they have the right levels of coverage for their individual needs.
Use the time to evaluate your coverage:
Check back through your policy - whether you’re a homeowner or someone who is currently renting a property - and if you are unsure as to whether you have the correct coverage for your circumstances: reach out to your service provider. While most, if not all businesses including insurance companies, are working from their homes instead of their offices, you can still call them or chat online to discuss your policy.
Having an honest discussion with your insurance provider could help you be certain that you have enough coverage in the event of something untoward happening during the current health crisis, and to be honest, it’s never a bad idea to review your coverage anyway, so take this opportunity to do so for some extra peace of mind.
[meta_title] => Reviewing Your Home Insurance In Light Of Covid-19
[meta_description] => With more and more Americans forced to spend an inordinate amount of time in their homes than would usually be the case, the chances of needing to file insurance claims may also increase. Wear and tear, especially when incurred over an intensified time frame, could lead to property damages, not to mention an increased risk of bodily harm as more individuals use home
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[publish_date] => 2020-04-02 11:45:00
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[date_added] => 2020-04-07 02:22:19
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[blog_title] => What Impact Has Covid-19 Had Upon Homeowners Insurance?
[blog_description] => The current health crisis has affected us all in myriad different ways, and many of us have unanswered questions related to a wide range of industries. The insurance industry has of course been impacted upon by Covid-19, and you might have some questions about how it has affected your homeowner insurance. Here are some of those questions answered:
Do I need to buy more homeowners coverage because of the pandemic?
It would be wise under the current circumstances, to reach out to your insurance provider for a review of your existing policy. Homeowners insurance doesn’t cover pandemic exposure, but if your circumstances have changed as a result of Covid-19, then you might require additional coverage.
Covid-19 won’t have affected the structure of your property, but if you’ve been working from home – and may continue to do so for the foreseeable future – then reassessing your coverage of personal property and of liability, makes a lot of sense.
How might Covid-19 affect my home insurance claim?
The advice given by experts is to file your claim if you have one but be prepared to wait longer than usual for it to be processed. With social distancing measures in place, many insurers have closed their office doors to the public and are now using a variety of digital tools to process and pay claims.
What about the cost of my homeowner’s insurance?
Experts continue to predict that the cost of a homeowners’ insurance policy will not see any significant changes in the future, but again, a conversation with your insurance agent might help clarify the issue for you.
What do I do if I can’t afford to pay my insurance because of the virus?
There are several options available if you find yourself unable to pay your homeowners premium and checking with your states Department of Insurance to see if they’ve offered any assistance, might be your first port of call. Some insurance providers are also offering support for their clients struggling to make payments, so reaching out to them would also be advisable.
However, the most important thing to keep in mind is that you should avoid simply not making a payment; this could have a drastic effect on your policy and cause you to be unprotected in the event of an incident or emergency. Your insurance provider will be there to advise you, and while this currently can’t be done in person, all are available online or on the telephone during these difficult times.
Many industries are experiencing changes to the way they usually do business, but by being patient and understanding that we are all simply trying to do our best, you’ll get the help and advice you need if you have any questions about your homeowners insurance coverage.
[meta_title] => What Impact Has Covid-19 Had Upon Homeowners Insurance?
[meta_description] => The current health crisis has affected us all in myriad different ways, and many of us have unanswered questions related to a wide range of industries. The insurance industry has of course been impacted upon by Covid-19, and you might have some questions about how it has affected your homeowner insurance.
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[publish_date] => 2020-05-07 12:15:00
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[blog_title] => How Covid-19 Might Affect Your Auto Insurance
[blog_description] => As with some other types of insurance, Covid-19 won’t necessarily have an impact upon your auto policy, but you might find yourself struggling to keep up with the payments. If this is the case for you, there are a couple of things you can do to ease the financial burden, and one thing you mustn’t do:
Do NOT cancel your auto coverage:
Unless you plan on giving up your car, you should hold on to your insurance coverage, as simply cancelling it can have several implications:
- You will not be covered for any losses
- Auto insurance is a legal requirement of most states before you can drive
- You could face higher premiums if you have a gap in your coverage
- Often, you will incur a cancellation fee or other associated costs
Increasing your deductible might be an option:
By increasing your deductible – the amount of money you agree to pay out before coverage kicks in – you may be able to reduce your premium. However, you’ll need to assess the risk associated with doing so, by balancing out your need to reduce costs now, with the potential cost should you have an incident involving your car.
Lowering your liability:
While this will make a smaller difference to your monthly premium than increasing your deductible, it could be an option if you really need to be mindful of costs currently.
Changing to a usage-based plan:
Many of us are driving a lot less under the current circumstances, making switching to a usage-based policy, a potentially smart move. This type of coverage depends upon driving data usually gathered from apps on smartphones, to assess how much you’ll need to pay for your coverage.
If you’re considering making any changes to your auto insurance, it’s strongly recommended that you speak to your provider before taking any action.
How will Covid-19 affect insurance claims?
A lot will depend upon each individual insurance provider and how they’re currently managing their claims. Since offices have been forced to close, all claims are being processed digitally, and if your chosen provider doesn’t have the latest tech to cope with this change to proceedings, then claims could take considerably longer than usual.
What if you can’t afford to pay your auto insurance?
This may well be a common problem, at least until the current situation changes and more of us can get back to work, and while it of course isn’t good news for auto insurance companies, it might be an unavoidable reality for their customers. As is the advice for anyone experiencing issues with their insurance - and for any reason - call up your insurer and talk to them directly to see if a solution is available.
Since this situation is out of all our hands, it’s important that customers continue to communicate with their insurers and that both parties work together to find solutions wherever possible. And no matter how tempting it may be, do NOT simply cancel your auto insurance policy, as this could leave you dangerously unprotected.
[meta_title] => How Covid-19 Might Affect Your Auto Insurance
[meta_description] => As with some other types of insurance, Covid-19 won’t necessarily have an impact upon your auto policy, but you might find yourself struggling to keep up with the payments. If this is the case for you, there are a couple of things you can do to ease the financial burden, and one thing you mustn’t do:
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[blog_title] => What Is A Business Owners Policy And Do You Need One?
[blog_description] => If you’ve recently started your own business, or are just thinking about it, you will need to carefully consider the type of insurance you’ll require to give you adequate protection. There is little doubt that you’ll need basic coverage at the very least, such as general liability, property and business interruption, but it can be beneficial and cost effective to purchase a package that includes them all. Known as BOP’s, or Business Owners policies, these are often more
manageable and cost effective than buying separate insurance policies, and most can be customized, too.
Here’s more about what a standard BOP will provide you with as part of its’ coverage:
- The cost of damage claims made against you involving people or property, and this can include medical expenses, repairs, replacement costs, legal fees and any compensation should you be found to be at fault.
- Damage caused by covered disasters to buildings and/or contents, such as fire or theft. Property insurance covers owned or rented properties, and some other items of value and/or importance such as computers, telephones and other business equipment. If you have additional items you wish to be covered, then those can simply be added to the policy.
- Losses to finances should something unforeseen prevent your business from operating, and this can include loss of income, costs associated with moving, fees for the hiring of equipment and any extra rent payments you had to make if you were forced to temporarily (or permanently) relocate.
- Repairs of equipment or replacement costs should it be beyond repair, with the option to add coverage for the following:
The cost of claims made against you, by employees, and this can include wrongful termination and sexual harassment to name but a few.
Costs incurred while recovering from a breach in data, which can include investigation costs and those associated with informing customers, fixing systems and paying government fines etc.
Do you need a business owners policy?
If you’re running your own business from home or another location, have the potential to face legal action from a customer or employee, and have valuable assets that need to be protected, then a BOP might prove the safest and most cost-effective option.
While BOP’s are not required by law, liability insurance often is, and your customers may require that you have it; fortunately, this is included as a standard feature of every BOP.
If your business premises are rented, then your landlord may require proof of your property insurance coverage before they allow you to sign the lease, and as with liability insurance, this is included as standard with a BOP.
As a small business owner without the right protection, you could see your profits wiped out and your entire livelihood disappear if faced with a claim made against you; it simply isn’t worth the risk. You’ve worked hard to get where you are, so why not protect all that hard work with the right insurance policy?
Looting and the causing of criminal damage to other people’s properties has been in the headlines again recently, as protesters took to the city’s streets worldwide, in support of the BlackLivesMatter movement. For some out to cause wonton destruction and steal from unsuspecting business owners, they were indiscriminate and targeted business of all sizes.
But no matter the cause, looting remains a criminal act, and one that in these already trying times, can have a devastating impact upon business owners already hard hit by the global health pandemic.
While some shop owners chose to staunchly protect their businesses and remain on site to deter the looters with their physical presence, this is a dangerous approach and one that can have deadly consequences. So, if you don’t physically protect your shop from looters, what else can you do to keep it safe from harm?
Some insurance policies cover losses from merchandise theft and destruction of property, and getting the right coverage could be the safest and most effective way to protect your livelihood.
Does your small business have adequate coverage in the event of looting?
While most BOP’s provide coverage for property damage and loss, and many businesses must have basic insurance to meet the requirements of their lease, it’s often left up to the owners themselves to choose how much insurance they want to buy. How much coverage is needed will depend largely upon the type of business, the inventory value and how much savings the business owner has.
To know if your policy provides you with insurance against looting, it might be best to talk directly to your provider, who can upgrade your policy if necessary. Note that if your business doesn’t hold an insurance policy to cover your inventory and equipment, then any losses from an incident of looting would come out of your pocket.
If your business has been looted, what should you do?
Due to the chaos and uncertainty caused by the ongoing pandemic, some insurers have been ordered to refund part of their commercial premiums for those businesses affected by covid-19, and in some cases, grace periods for paying premiums were put in place. If your business has been the victim of an incident of looting, or to know whether you might be entitled to a premiums rebate or grace period, contact your insurance provider at the earliest.
There are many risks that your business may become exposed to, no matter where it is or what you may be selling, and if you don’t already have adequate insurance, you should make it a priority. Looting is just one way in which your business can end up costing you your hard-earned money, and while you may think it will never happen to you, the latest riots and protests have proved that criminals and vandals are often indiscriminate, and that anyone can become a victim.
[meta_title] => Does Your Small Business Insurance Cover You Against Looting?
[meta_description] => Looting and the causing of criminal damage to other people’s properties has been in the headlines again recently, as protesters took to the city’s streets worldwide, in support of the BlackLivesMatter movement.
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[publish_date] => 2020-06-03 07:35:00
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[blog_title] => What Is Florida’s Minimum Requirement For Auto Insurance?
[blog_description] => If you’re unfortunate enough to be involved in a car accident, your auto insurance policy will help you cover the costs of medical bills, personal property damage and legal fees, and due to its importance, many states hold legal requirements about the amount of insurance you need to carry.
Do all states require auto insurance?
While not all states require their citizens to have specific auto insurance specifications, all of them require that you accept financial responsibility, meaning that you need enough money in assets or savings to pay for any damages that you cause. Naturally, most people don’t have $100,000 sitting around in their bank accounts, making the need for auto insurance, a given.
Many states require you, by law, only to have bodily injury liability and personal property liability, with full coverage not made into a legal requirement by most.
Read on to know more about the minimum auto insurance requirements in Florida:
Bodily injury coverage per person is set at a minimum of $10,000: this is the maximum amount of money that insurers will pay for each person you injure in a car accident.
Bodily injury per accident is set at $20,000: this is the maximum amount of money that your insurer will pay per accident if there was more than one person in the car you hit or caused a collision with.
Property damage per accident is set at $10,000: this is the maximum amount your insurer will pay out to help you repair the damage you have caused.
Property damage per accident is set at $10,000: this is the maximum amount your insurer will pay out to help you repair the damage you have caused.
Which states are at-fault or no-fault, and what is the difference?
Florida is a no-fault state, meaning that no matter who is considered at fault in an auto accident, everyone involved must pay for their damages. States such as Florida, require you to purchase personal injury protection and medical payments coverage. Once you’ve done that, you are free to make the choice to purchase additional coverage.
However, most states are at-fault, which means that whoever is deemed responsible for causing the accident and any ensuing damage, is the one who pays the costs. These states require you to have liability coverage and may also need you to have uninsured motorist coverage, too.
If you only have the minimum coverage required by your state, is it enough?
If you’re involved in a serious car accident, one in which people are grievously injured or whose death is caused as a result, then there’s every chance your states minimum requirements wouldn’t cover the medical and/or funeral costs. Not only that, but if litigation costs ensue, your liability coverage could quickly diminish.
Many people purchase only what is minimally required of them by their state, and while that may prove enough for some, is it worth taking the risk?
With many insurers offering attractive insurance premiums, discounts and deals, it might be worth talking to your insurer to check that you have ample coverage in case of an accident, which let’s face it, can happen to any one of us, at any time.
[meta_title] => What Is Florida’s Minimum Requirement For Auto Insurance?
[meta_description] => If you’re unfortunate enough to be involved in a car accident, your auto insurance policy will help you cover the costs of medical bills, personal property damage and legal fees, and due to its importance, many states hold legal requirements about the amount of insurance you need to carry.
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[publish_date] => 2020-07-01 19:00:00
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[date_added] => 2020-07-13 14:26:39
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[blog_title] => Is Your Vacation Home Covered By Your Homeowners Insurance?
[blog_description] => You might be curious as to whether the insurance policy you hold for your primary home, can help protect your second, or vacation home. In some cases, homeowner’s insurance can extend to more than one residence, in others, you might need to purchase a separate policy.
Insurance policy Q and A’s for your vacation home:
- If I want to ensure that the structure and contents of my vacation home are always protected, do I need a separate insurance policy? In most cases, the answer is yes.
- Will my lender require me to insure the mortgage on my vacation home? Yes, this often the case.
- Can the liability coverage portion of my existing homeowner’s policy be extended to my vacation home? Yes, some insurers may allow this.
As with any questions you may have about your existing homeowner’s insurance policy, and/or your vacation home, it’s best to check with your insurer, who can give you the most up to date and accurate guidance.
Is insurance for your vacation home any different to that of your primary residence?
In general, vacation homes are deemed to be of a higher risk than primary residences, and this can be due in part to their location. For example, many vacation homes are situated beside lakes or on the beachfront, placing them at a higher risk of such occurrences as flooding or even theft if they’re in an isolated area; naturally, this can mean that coverage costs are also higher.
Are there any limitations upon vacation home coverage?
As most vacation homes are not occupied all year round, the insurance is typically written on a ‘named perils’ basis. This means that your vacation home would only be covered against events that have been specifically named in the policy, such as lightning, damage or theft. If your vacation home, or any of the items inside it, are damaged by some peril that has not been listed in your policy, then it will most likely not be covered. While the perils that may be covered in a standard homeowner’s policy, are likely to be far broader.
It’s important to note that the limited perils coverage may also apply to any other structures that are on the same property as your vacation home, such as sheds, garages or boathouses.
How can you increase the coverage on your vacation home?
You might want to consider adding personal property insurance to your coverage on your vacation home, to enable you to replace certain items should they become damaged or stolen. Be certain to check the policy carefully though, as some personal property may not be covered.
Talking to your insurer about flood insurance or extended protection for a boathouse or similar structure on the site of your vacation home, might be a good idea if you have a lake or seaside home.
Neglecting the insurance coverage on your vacation property, and not ensuring that you’re adequately protected whether you’re in it, or not, could end up costing you thousands of dollars. To avoid this, talk to your insurer today and protect your precious vacation home from as many potentially costly outcomes as possible.
[meta_title] => Is Your Vacation Home Covered By Your Homeowners Insurance?
[meta_description] => You might be curious as to whether the insurance policy you hold for your primary home, can help protect your second, or vacation home. In some cases, homeowner’s insurance can extend to more than one residence, in others, you might need to purchase a separate policy.
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[blog_title] => Are You Covered For These Common Liability Insurance Claims?
[blog_description] => While most of us don’t anticipate someone having an accident and hurting themselves while on our property, you might be surprised to learn just how often it actually happens. Aside from the risk of harm to the person visiting your property, there are the potential financial repercussions for you, the homeowner, too. If your existing homeowners insurance policy doesn’t have enough liability coverage, then you could be left facing costly medical and/or legal bills.
A professional insurance advisor can help determine whether the level of protection you currently have with your homeowners insurance policy is good enough to meet your needs.
Here are just a few of the most common liability claims made against homeowners to date:
Dog bites/attacks:
With so many Americans having pets at home, dog bites to visitors can occur regularly, and what legal action you face will depend upon the severity of the attack and the victims relationship with the home owners. A typical homeowners insurance policy covers damages and injuries caused by
pets but note that some breeds are excluded due to the higher level of risk they present. Check with an insurance advisor to see if your policy will cover you adequately.
Accidents at home:
Even if a salesperson comes onto your property uninvited, if they incur an injury due to negligence on your part, such as a faulty flagstone or ice on a walkway, then you may be help liable if you’re found to be at fault. Again, check your policy to make sure you’re covered and consult with a professional if you’re unsure.
Falling trees:
During storm seasons, trees falling and causing damage to property and people are not uncommon, and if you have a tree on your property that falls and damages any of your neighbors property, then you could be held liable.
Injuries to domestic workers:
Many Americans hire domestic workers to help them keep their homes and yards clean and tidy, and while some may have workers compensation insurance to cover them against lost wages and medical payments, if they don’t, then your homeowners policy may be asked to pay the claim should you be found liable for their injuries.
As well as checking your existing homeowners insurance coverage with your provider, you should also check to see if you’re required by law to purchase workers compensation insurance for your domestic workers.
To know more about protecting yourself against common liability claims, check with your insurance provider for all the latest information and legal requirements, today.
While the property you’re currently residing in might not belong to you, as a renter you still face exactly the same risks as someone who owns their own home, and while your landlord may have insurance, it protects only the building and does absolutely nothing to protect your personal belongings. Fires, theft, flooding, accidents and natural disasters can all happen to you in your rented home, and without adequate renters insurance, your belongings are at risk.
What you should do before you purchase renters insurance:
Before talking with an insurance specialist to get your belongings protected in the event of damage, theft or destruction, you should make a detailed inventory of each and every item that you want the policy to cover. Wherever possible, list each item along with its value and serial number, if you have receipts for larger or more valuable items, it’s a good idea to hang onto them.
What is standard renters insurance?
A standard renters insurance policy will cover you against named perils and offer you liability protection. Some more common examples of named perils found in renters insurance coverage are fire, lightning, wind, smoke, vandalism, theft and falling objects. Liability protection covers injury to another person that occurred on your rented property, and in some cases, might even cover your legal defense costs.
It’s important to note that such natural disasters as floods and earthquakes are not usually on the list of covered items, and if you think your personal belongings are likely to be affected by such an event, then you’d be advised to buy a separate policy.
Renters insurance and additional living expenses:
In the unfortunate event of your rented property becoming uninhabitable due to a covered catastrophe, your renters insurance policy should cover the extra expenses that you may incur while being forced to live elsewhere.
Renters insurance and actual cash value (ACV):
ACV or actual cash value coverage pays out only for what your personal property was valued at when it was damaged or stolen.
Renters insurance replacement cost coverage:
Paying out what it costs to replace the items that you lost (due to damage or theft), minus the deductible, replacement cost coverage will cost you more in premiums, but will also pay out more if you ever need to file a claim.
If you haven’t yet protected your personal property with a renter’s insurance policy, it might be a good time to talk to a professional insurance agent about the right kind of coverage for your circumstances, before it’s too late.
[meta_title] => Is Your Personal Property Protected As A Renter?
[meta_description] => While the property you’re currently residing in might not belong to you, as a renter you still face exactly the same risks as someone who owns their own home, and while your landlord may have insurance, it protects only the building and does absolutely nothing to protect your personal belongings. Fires, theft, flooding, accidents and natural disasters can all happen to you in your rented home, and without adequate renters insurance, your belongings are at risk.
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[blog_title] => Do You Need an Insurance Package for Your Small Business?
[blog_description] => If you own a small business, then you’re going to need some form of insurance for it; some business insurance policies are required by law, while others will undoubtedly help you stay afloat or succeed in the face of an accident or legal claim. However, knowing which package is right for your particular business, may not have such a simple answer, unless, that is, you opt for a small business insurance package:
What is an insurance package?
Convenient and often cost effective, insurance packages work by bundling multiple coverages into one, single policy, meaning that essentially, your business is adequately covered without the need for multiple policies, as is so often the case.
If you’re the owner of a small business and are looking for an insurance package that will cover you for every eventuality, here are some things to take into consideration (for more detailed advice and guidance, talk to an insurance specialist):
- A package policy covers your business if there’s a legitimate interruption to your business, if property damage occurs, or a lawsuit has ensued following bodily injury or property damage to others.
- Insurance for small businesses can, under applicable circumstances, pay legal expenses if liability claims are brought against your business, irrespective of which party is believed to be at fault.
- If you or an employee commits certain offenses during the course of your business, such as slander, libel or copyright infringement in your advertisements, this policy can provide you with coverage for personal and advertising injury.
- Small business insurance can provide replacement cost coverage for buildings and most business owners personal property.
- If you require additional coverage, such as commercial auto, crime, flood or equipment breakdown insurance, this can be added to the policy as and when needed.
What is the most popular small business insurance package?
Combining general liability, property and business income coverage, a BOP, otherwise known as a Business Owners Policy, may provide the right coverage for you if you own a small or mid-sized business.
Conforming with state and federal laws is no laughing matter, and if your business is found to be in violation of any legal insurance requirements, it could be game over for you and the business you’ve worked so hard to build up. With this in mind, you’d be advised to schedule a consultation with a professional insurance provider today, who can make sure that you and your beloved business, get the protection you both need.
[meta_title] => Do You Need an Insurance Package for Your Small Business?
[meta_description] => If you own a small business, then you’re going to need some form of insurance for it; some business insurance policies are required by law, while others will undoubtedly help you stay afloat or succeed in the face of an accident or legal claim.
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[blog_title] => What Factors Can Affect Homeowners Insurance Rates?
[blog_description] => When looking to insure your home, it’s only natural that you would search for the very best rates possible, but how do you know what might be affecting those rates and if there is anything you might be able to do to lower them, without compromising on the level of protection it affords you?
If you’re confused as to what is making your homeowners insurance rate so high, the following information might be of use:
What is the primary factor that affects a homeowner’s insurance rate?
According to experts, it’s the simple likelihood of a homeowner filing a claim that directly affects insurance rates, and this likelihood is usually referred to as a risk. Determining just what level of risk a homeowner poses, is often done by the insurer having viewed any past home insurance claims the individual may have made, along with any claims related to that property, and the homeowners credit rating.
The frequency of any prior claims and their severity, can play a significant role in determining rates, and if there is more than one claim relating to the same issue, such as storm or water damage, then the risk factor is increased tenfold.
If you want to insure your home but have had multiple claims in the past three to seven years, your insurance premium could skyrocket and put you in a higher pricing tier altogether. There is also the chance that you won’t be eligible for home insurance.
What other factors can affect your insurance rate?
Some other things that might have a significant impact upon the rate of interest for homeowners insurance, include the neighborhood that your home is in, how high the crime rate is in your area, and the availability of building materials should you need to make any structural repairs, all play their own roles in helping to determine the rate of interest you’re offered on your homeowners insurance.
Annual premiums may also be adversely affected by other coverage options, such as deductibles, or added riders for wine, jewelry and works of art etc. While the type of building you live in, what it’s made from and how old it is can also be factored in by risk analysts, along with the type of heating servicing the home, proximity to the coast, presence of a swimming pool, security system and much, much more. You might even be surprised to know that if you have a puppy in your home, your rate of insurance could rise, since young animals have been known to wreak havoc and destroy items when left unattended.
All in all, there are many factors of varying significance that can have an impact upon homeowner’s insurance rates, but talk to your local insurance specialists, and they’ll work out the best rate for you under the circumstances.
[meta_title] => What Factors Can Affect Homeowners Insurance Rates?
[meta_description] => When looking to insure your home, it’s only natural that you would search for the very best rates possible, but how do you know what might be affecting those rates and if there is anything you might be able to do to lower them, without compromising on the level of protection it affords you?
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[blog_title] => Does Your Business Need Commercial Auto Insurance?
[blog_description] => If you’re running any kind of business, large or small, that frequently uses cars, trucks and vans as part of its everyday operations, then if you haven’t already got commercial auto insurance, you should talk to an insurance professional about purchasing it today.
What is commercial auto insurance?
Commercial auto insurance covers any vehicles used by your business, for a variety of situations not covered by a personal auto insurance policy. It covers many different types of commercial vehicles, such as company cars, commercial trucks, and vans; basically, any vehicle used for business purposes instead of personal.
Do you need commercial vehicle insurance?
If you’re a business owner, you may find that certain usages and vehicle types are excluded from your personal auto insurance policy, and if vehicles are used frequently during the running of your business, then there can be no question that you would benefit from some of the coverages offered by a commercial auto policy. However, it’s not always cut and dried…
What does commercial vehicle insurance typically cover?
There are several differences between your personal auto insurance and that of a commercial vehicle policy, which may include eligibility, definitions, coverages, exclusions and limits. Listed below are some of the coverages of a typical commercial vehicle policy:
- Bodily injury liability coverage – if someone has an accident and is found to be at fault, then this type of coverage pays for bodily injury or death and often provides a legal defense, too.
- Property damage liability coverage – if your vehicle causes accidental damage to someone else’s property, this policy offers you protection and a legal defense.
- Combined single limit (CSL) – this, single limit coverage typically gives separate limits that apply to bodily injury claims for property damage. Whether one person or more, bodily injury or property damage, this policy has the same dollar amount of coverage per covered occurrence.
- Medical payments, no-fault or personal injury coverage – regardless of who was at fault, if your vehicle is involved in a covered accident, this policy usually pays for the driver and passenger’s medical expenses.
- Uninsured motorist coverage – if your vehicle is involved in a hit-and-run incident or is involved in an accident with an uninsured driver, then this policy should pay for any injuries incurred and, in some cases, property damage, too.
- Comprehensive physical damage coverage – if your vehicle is damaged due to theft, vandalism, fire, flood or any other peril covered, then this policy covers those costs.
- Collision coverage – if your vehicle is hit by another object, or hits something, then this coverage pays for any damage incurred.
To ensure that you, your business and any vehicles associated with it, are adequately protected, talk to your insurance provider today about commercial auto insurance…before it’s too late!
[meta_title] => Does Your Business Need Commercial Auto Insurance?
[meta_description] => If you’re running any kind of business, large or small, that frequently uses cars, trucks and vans as part of its everyday operations, then if you haven’t already got commercial auto insurance, you should talk to an insurance professional about purchasing it today.
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[blog_title] => Everything You Need to Know About Flood Insurance
[blog_description] => Did you know that as many as 90% of natural disasters that occur in the US, involve some kind of flooding? And did you also know that as much as 20% of that flooding often hits areas that are only classed as being of low or moderate flood risk?
While it’s nobody’s intention to worry you unnecessarily if you’re a homeowner in the US, it’s important to understand that homeowner’s insurance policies don’t cover flooding in their standard policies, and if you want to make sure that your home is protected against an eventuality such as a flood, you should learn more about flood insurance protections
The basics of flood insurance:
- Floods are not covered under homeowners and renters’ policies. Only if you have purchased a specific flood insurance policy will your home be covered against any losses incurred due to the unfortunate event of a flood.
- Most flood insurance is administered by the federal government. Under a contract known as FEMA, homeowners and renters can purchase flood coverage from an insurer, whereas federal flood insurance is available in those areas in which the local government has adopted flood plain management regulations under the NFIP; there are many communities who take part in this program.
- Direct physical losses from floods and flood related erosion are covered in a flood insurance policy. Flood related erosion can be that such as is caused by waves or currents of water exceeding their usual cyclical levels, and which may be accompanied by a severe storm, a flash flood, or an abnormal tidal surge.
- To cover the structure and contents of your home, you must buy two separate policies. Your home itself (the building), is covered for replacement cost, but coverage for personal property is only made available on an actual cash basis.
- Coverage amount for the structure of a home is a maximum of $250,000, and $10,000 for the contents. Private insurers offer excess coverage that goes over and beyond the maximums available through a government insurance policy.
- Flood coverage for cars is not included. A standard automobile insurance policy will provide coverage for a car under its optional, comprehensive portion.
What happens if there’s a flood and I haven’t got adequate (if any) coverage?
Unfortunately, if you’re the victim of flooding and your home and/or its contents are damaged or destroyed as a result ad you don’t have a flood insurance policy, then you would probably need a loan to cover those costs. In some communities, and depending upon the severity of the flood, the federal government may make a low-interest loan available as part of a relief package, but of course it needs to be paid back.
There really is only one way to ensure that you don’t lose money if your home gets flooded, and that’s by purchasing a flood insurance policy. To make sure your home is covered should you fall victim to a flood, talk to a professional, private insurance company today.
[meta_title] => Everything You Need to Know About Flood Insurance
[meta_description] => Did you know that as many as 90% of natural disasters that occur in the US, involve some kind
of flooding? And did you also know that as much as 20% of that flooding often hits areas that are
only classed as being of low or moderate flood risk?
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[blog_title] => All You Need to Know About Commercial Property Insurance
[blog_description] => It’s important that as the owner of a commercial property, you have adequate insurance to help protect yourself in the event of potentially harmful incidents such as fire, theft, storm damage, traumatic events and power outages, to name but a few. A comprehensive insurance policy may also cover you for any loss of income, or an increase in business expenses that result from any damage that has been incurred. To help you decide what type of coverage would best protect your commercial property, check out the following advice and guidance:
What is covered by commercial property insurance?
Covering your building and all of its contents, along with any exterior fixtures associated with it, commercial property insurance covers your computers, furniture and other equipment, important documents and records, and any inventory stored on the premises. Coverage also extends to cover damages caused by such things as a burst water pipe, vandalism and theft.
Similar to homeowner’s insurance, commercial property insurance doesn’t typically cover earthquakes, floods and other perils unless they have been specifically added to the policy.
Commercial property insurance and theft:
Should any items owned by your business be moved out of the premises, they can no longer be classed as personal business property, and are subsequently reclassified as ‘inland marine’. A separate inland marine policy must then be taken out in order for it to be covered at all; a commercial property insurance policy will not cover these items. However, if you do have items of significant value or importance that aren’t kept at your business premises, then you must ensure that ‘inland marine’ is part of your commercial property insurance.
To be more specific, equipment or business contents that have been moved more than 100 feet from the location listed on the policy, will no longer be insured by your standard commercial property policy.
How much does it cost to insure a commercial property?
There are several factors that can have an impact upon the cost of a commercial property insurance policy, such as:
- Construction of the property
How old the building is and what condition it’s in can have a significant effect on insurance rates; if fire-retardant materials were used, it can reduce rates, while dated plumbing and electrical systems can bump it up.
- Where the property is
The location of your property can also have a significant impact upon insurance costs; if you live in a flood prone zone or high-crime area, rates can rise substantially.
- The type of business carried out in the property
The industry that you work in can affect your insurance costs, as can the number of customers and employees that you have.
- Existing measures of protection
If a commercial property has a robust security system in place, along with fire alarms and other security measures, this can significantly reduce insurance costs.
To find out whether your commercial property has adequate coverage, or to know more about upgrading your existing insurance package, talk to a local, reputable insurance company today.
[meta_title] => All You Need to Know About Commercial Property Insurance
[meta_description] => It’s important that as the owner of a commercial property, you have adequate insurance to help protect yourself in the event of potentially harmful incidents such as fire, theft, storm damage, traumatic events and power outages, to name but a few.
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[blog_title] => Do You Need Specialized Insurance to Rent Out Your Home?
[blog_description] => Renting out your home may seem like a welcome prospect, but whether you do so on a short or long-term basis, you’ll probably need a more specialized insurance policy to ensure that you and your property, are adequately protected. While a lot may depend upon your specific rental scenario, generally, a standard homeowner’s policy does not give you adequate coverage.
If you’re thinking about renting out your home, or even just one room within your home, you should schedule an appointment to talk to an insurance professional about the right kind of insurance policy. However, the following information should give you something to consider before you take that step:
Insurance scenarios for short term/primary residence rentals
There are usually two applicable insurance scenarios if you’re planning to rent out all, or part of your home on a temporary or short-term basis:
- Short term rental policy
Some, but not all, insurance providers may allow short term rental to be covered under an existing homeowner’s policy, but prior notice must have been given, and some will require an endorsement to the existing policy to be put in place.
- Business policy
Regularly renting your primary residence for short periods of time constitutes a business, and as such, you’d need to acquire a business policy to ensure you were adequately covered.
Insurance scenarios for long-term rentals or second home
If you plan to lease your home to anyone on a long-term basis, you will probably need to purchase a landlord or rental dwelling policy. While these policies typically cost more than a standard homeowners’ policy, they are essential for long-term rentals and regular renting out of a vacation home or investment property; don’t have them, and you simply won’t be insured for physical damage to the structure of the home caused by any number of listed perils, or for personal property you may leave on-site for maintenance purposes or tenant use. Landlord policies invariably include liability coverage, too, meaning that if a tenant or guest is injured while on the property, the legal fees and any medical expenses incurred, would be covered.
It’s important to note that most landlord policies also provide coverage in the event that you’re not able to rent out the property while it’s being repaired or rebuilt due to damage from a listed loss.
For more detailed guidance about renting out your property and getting adequate coverage through a landlord’s insurance policy, talk to a professional insurance agency in your area. With specialist knowledge of local markets and renters’ regulations, they’re in the best place to give you the most up-to-date and accurate advice; not only that, but they might be able to save you some money, too.
[meta_title] => Do You Need Specialized Insurance to Rent Out Your Home?
[meta_description] => Renting out your home may seem like a welcome prospect, but whether you do so on a short or long-term basis, you’ll probably need a more specialized insurance policy to ensure that you and your property, are adequately protected.
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[blog_title] => What Is Self-Employed Health Insurance & Do You Need It?
[blog_description] => Are you self-employed and don’t have health insurance? Do you even need it? Or are you a small business owner who hires self-employed individuals and are unsure if you need to cover them?
Read on to find answers to the following health insurance questions:
I’m self-employed; do I need health insurance?
If you’re earning a taxable income without an employer or employees, such as by being an independent contractor, consultant or freelancer, then you definitely need to invest in health insurance, and finding a reputable insurance company will help you access the best deals for your circumstances, and prevent you from facing possible penalties for not being covered.
I employ freelancers and independent contractors; do I need to insure them?
If your business employs less than 50 full-time workers, The Affordable Care Act doesn’t require you to provide them with health coverage, but of course that doesn’t mean that you can’t. When it comes to freelancers and the self-employed, however, the rules are not always the same from state to state. Typically, health coverage for self-employed persons is not required to be provided by the owner of the business paying them, but some choose to extend their group health coverage to include them.
What do I need to know if I offer group health coverage to freelancers?
It’s important to note that as a small business owner, you’re not obliged to pay any part of the premium for group health insurance offered to freelancers, but if you do, they may then be required to report the contributions as taxable income. If you’re a freelancer and you choose to pay for your own health insurance premiums, then you may be able to deduct the cost from your income taxes.
Does it make a difference if I’m an independent contractor or freelancer?
If whoever is paying you for your services, controls and/or directs the results of the work you carry out, and not what will be carried out and how, then the IRS will classify you as an independent contractor. The person paying you may be a client organization, or the general public, but there is no relationship akin to employer-employee. Typical examples of independent contractors would be an accountant, lawyer or doctor.
If you work on a temporary, self-employed basis and provide products or services to multiple organizations, then you are classed for insurance and tax purposes, as a freelancer. You may have many different clients and work on a variety of projects according to your schedule. Typical examples of freelancers would be graphic designers, journalists and copywriters.
For health insurance purposes, if you’re an independent contractor or freelancer, you’ll likely be responsible for purchasing your own coverage, and in most cases it’s essential for protecting you from the costs that can mount should you become sick or injured and can’t work for any length of time.
So, as a freelancer or independent contractor, should I get health insurance?
To protect yourself in the event that you can’t work and earn your regular income because you’re sick or laid up in bed recovering from an injury, you should definitely purchase a health insurance plan.
To get the best self-employed healthcare coverage for you and your specific circumstances, talk to an ![]()
insurance expert today.
The world of home insurance can be a confusing one to navigate at times, and while consulting with an insurance expert or broker can be helpful, sometimes it pays to simply know some basics before approaching a reputable insurance provider. Here are a few pointers to help guide you in the right direction:
Check that you can cover the costs of rebuilding should you need to:
Check that you can cover the costs of rebuilding should you need to:
Wherever possible, choose home insurance with a guaranteed replacement clause that will cover the cost of rebuilding, and buy extra if you feel that your chosen insurer’s appraisal of your home is low. Each time you make any significant upgrades to your home, be sure to review your policy thoroughly, and if it’s older than 20 years, check that your policy will cover the cost of upgrading to current building codes.
Does it have a loss-of-use clause?
This clause pays for expenses incurred while you can’t live in your home, and some insurers will allow you to buy more than the usual limit of 20% of your home’s coverage.
Do you need a personal-property rider?
If you have luxury items in your home, you may need to purchase a personal-property rider, as coverage for what’s in your home is typically calculated as half of the value of your home. Always make a detailed inventory of your possessions and place it in a safe, secure place.
Ensure you’re protected if working from home:
With more of us working from home than ever before, covering your equipment and liability involves a home-business endorsement.
Purchase flood insurance if you live in a flood prone zone:
The standard homeowner’s insurance policy doesn’t cover floods or storm-drain damage, but if you live in an area prone to flooding, it’s all but essential.
Be clear on what you are and are not covered for:
If you live in a condominium or co-op, while there may be a master policy covering the structure, which includes the bare walls, floors and ceilings, you won’t be covered for anything you put on those surfaces, such as rugs, lights and even wallpaper. If you’re a renter, keep in mind that a renter insurance policy will cover your possessions and is affordable, making it a worthwhile investment. If you’re concerned as to whether you’re covered as a renter or condo occupant, talk to a reputable insurance company today. Before it’s too late!
Look for ways to reduce your premiums:
Whether it’s by having deadbolts or smoke alarms installed, boosting your deductible, or purchasing more than one policy, insurers may give significant homeowner’s insurance discounts, so always keep your eye open for possible breaks.
Buying home insurance is made much easier when you deal with a reputable company who are upfront with you about their levels of coverage, and help explain policies to you in clear terms. Find such an insurance company, and half the battle is won.
[meta_title] => What to Look Out for When Buying Home Insurance
[meta_description] => The world of home insurance can be a confusing one to navigate at times, and while consulting with an insurance expert or broker can be helpful, sometimes it pays to simply know some basics before approaching a reputable insurance provider.
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[publish_date] => 2020-12-09 19:00:00
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[blog_title] => Does Your Small Business Need Commercial General Liability Insurance?
[blog_description] => Covering risks for small businesses such as injury to a customer or customer property damage and advertising injury, commercial general liability insurance helps to protect businesses in the event of a lawsuit, and can help a company qualify for leases and contracts.
Are you the owner of a small business and are unsure of whether you need commercial general liability insurance? If so, the following information should help you decide:
Does your small business need general liability insurance?
The majority of small businesses require this type of insurance, and if you own an office or commercial space, then it’s even more important. However, even if you don’t own any premises but work directly with customers, a CGL policy could help ensure that your company remains stable if sued by a customer or competitor.
The majority of small businesses require this type of insurance, and if you own an office or commercial space, then it’s even more important. However, even if you don’t own any premises but work directly with customers, a CGL policy could help ensure that your company remains stable if sued by a customer or competitor.
Most small businesses seek this coverage immediately after their inception, and if you’re a small business owner who doesn’t yet have a CGL policy, then now would be a good time to purchase one.
What coverage does commercial general liability insurance provide you with?
Common liability claims from outside parties are typically covered by a CGL policy; providing small businesses with coverage for legal defence costs incurred when sued by a third party for bodily injury, property damage or advertising injury. Paying for everything from a lawyer to court-ordered judgements and settlements, most small businesses consider a CGL policy to be vital.
How does it protect small businesses?
Helping to pay for legal fees from common third-party lawsuits, commercial general liability insurance can protect your small business in many ways, and there are many instances in which coverage is required: for example, if a client asks you for a certificate of insurance in case you damage their equipment, or you’re faced with a lawsuit from a courier who injured themselves on your property while delivering documents.
When it comes to advertising injury protection, some good examples of how useful this can be are if you’ve launched a new website and you need to protect yourself against accidental (or intentional) copyright infringement, need to protect yourself against libel or slander claims from someone involved with a project, or require protection against advertising injury lawsuits resulting from your initial advertising campaign.
If your business has, or does the following, then general liability insurance is considered essential:
- A location open to the public
- A close working relationship with customers or clients
- Handles client property
- Rents or owns commercial property
Are all small businesses legally obliged to hold a CGL policy?
In short, no, however certain states may make it mandatory for particular industries, such as construction. That said, most landlords, mortgage companies and clients require you to have such coverage. A certificate of insurance provides proof that you hole general liability insurance coverage, and also gives your property manager, bank or customers, the peace of mind that they won’t be lumbered with legal costs associated with lawsuits against your company.
How can you get a CGL policy?
The process is usually fairly straightforward, and most insurers will require you to give them a few basic details in your application, such as the name of your business, your operations and how many employees you have.
To find out more about commercial general liability insurance for your small business, reach out to a reputable insurance provider who will help you understand the coverage and help you purchase a policy.
[meta_title] => Does Your Small Business Need Commercial General Liability Insurance?
[meta_description] => Covering risks for small businesses such as injury to a customer or customer property damage and advertising injury, commercial general liability insurance helps to protect businesses in the event of a lawsuit, and can help a company qualify for leases and contracts.
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[publish_date] => 2021-01-08 01:50:00
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[news_title] => What’s a Captive Agent? And Why Would You Want One Agent for All Your Insurance Needs?
[news_date] => 2020-06-05 15:55:00
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[news_description] => If you’re researching insurance options, you’ve probably heard something about captive insurance agents. But what exactly does that mean? A captive agent is simply industry-speak for someone who works for only one company. The insurance companies that advertise on national television are generally captives, and their local agents work for the corporation and only offer their policies.
When agents are exclusive to one company, they can provide you just one quote for an insurance policy. And the only way to decrease the rate is by reducing the policy coverage. If you want to shop for additional quotes, you’ll have to go through the entire process again with another agent or two.
You can think of it this way: A captive agent has a predetermined set of policies to draw from, and when you work with that agent, they’re fitting their policies to your needs, so there’s less ability to customize coverage. Working with a captive agent also tends to be more expensive because of their corporate structure. When it’s time to renew or service your account, remember that captive agents represent their company’s best interests.
We Insure is an independent insurance provider that’s the opposite of what captive insurance offers in several ways, but the most important differences can impact your bottom line, coverage and customer satisfaction. While captives represent one company, We Insure agents have access to multiple carriers, which means they can select the best product for their clients with more flexibility and features as well as greater value and competitive pricing. We Insure agents shop around to find policies that suit your interests — not the interests of a single insurance company.
Because We Insure agents offer home, auto, business and other types of policies, you can work with one agent for all your insurance needs. We Insure agents aren’t captive to any one provider and aren’t limited to one set of policies. As independent agents, We Insure will compare policies from different carriers to find the right plan at the best rate for you. Captive agents cannot show you competing products that may offer better coverage and options for your particular situation. A We Insure agent’s approach is to help you tailor the coverage to give you more features and flexibility, not shoehorn you into their company’s product line.
When you work with an agent who offers a broader array of coverage options, they can better see the big picture and how it may impact your insurance needs. For example, as your assets increase due to a successful business, inheritance or promotion, you may need to raise your liability coverage on home and auto policies or add an umbrella policy. After a marriage, the newlyweds may need to combine assets or purchase riders for valuables whether it’s for one spouse’s jewelry or the other’s guitar collection.
If your agent knows you and all your insurance needs, they’re more likely to identify triggering events for additional recommended coverage and suggest the best policy to meet those requirements. This concierge approach to insurance can greatly simplify your life and help ensure appropriate protection across all stages of life.
Better value, more choice. We Insure agents can find you the best deals from top-rated carriers for: home, condo, renters, auto, motorcycle, RV, business, boat and flood insurance. Call your local We Insure agent today to discuss your options.
The recession stemming from the COVID-19 pandemic is unlike any other in United States history. Many have found themselves un- or under-employed and more circumspect about their economic future, leading them to look for ways to save money on essentials.
During this challenging time, it’s wise to review your insurance as rates change and policies come up for renewal. Many companies are also offering rebates on auto insurance. But whether you’re shopping for a new policy or updating an existing one, make sure you’re trying to save smartly — and not in a way that’s likely to backfire down the line.
Shop Around
There are many ways to save on insurance, but one of the best methods is simply to shop rates. Compare quotes with at least three different companies. The best and most efficient way to shop your policy is to work with an independent agent who knows your market and your individual needs. The agent can then translate that to an apples-to-apples comparison of policy types and coverage from various carriers.
Make your decision based on price, value, the reputation of the insurance provider, and your comfort with the agent. Think about the big picture because you’ll be working with this person to help you complete future claims should they arise. The lowest price is not the best option if you’re sacrificing coverage, service or reputability.
Bundling your insurance or sticking with one provider across multiple policies can be a strategic way to capture savings of 5 percent to 20 percent. But sometimes using separate providers might be more cost-effective. Again, the best way to find out is to comparison shop and not assume you’re getting the best deal with your current insurer. And one of the easiest ways to do that is to have an independent, knowledgeable We Insure agent that has access to top-rated carriers and some of the most competitive pricing in the industry do the legwork for you.
Evaluate Policies at Least Once a Year
Insurance premiums may increase after the policy period ends, so it’s always smart to evaluate your coverage and shop your policy to ensure you get the best rate. Most policies like homeowners and life insurance generally have one-year terms, but auto insurance usually renews every six months. In addition, many auto insurers are currently giving rebates to their customers because of the hardships from COVID-19. Be sure to check with your insurer to verify if you’re receiving a rebate, or ask for one if you aren’t.
These major life changes should trigger a re-evaluation of your insurance needs:- A change in employment that reduces your mileage (e.g., working from home)
- Marriage or divorce
- Starting a new business (or side hustle)
- Pending retirement or job loss
- New addition to the family
- Loss of a loved one
Additionally, if you can answer yes to any of the following five questions, you may be able to reduce the cost of your insurance premium:
1. Did your credit score improve?
Depending on the state you live in, insurance companies may use credit-based insurance scores to predict how likely you are to have an insurance loss. They’re like regular credit scores but only use select elements of your credit history. This score is only one factor that influences your premium.
2. Did moving violations fall off your driving record?
Good for you! Most states allow moving violations to remain on your record for up to 10 years. Safe driving over time can remove these splotches and lead to a better rate.
3. Do you qualify for a low mileage discount?
Low mileage discounts vary by insurer, but some insurers advertise a price break of up to 20% if you drive less than 8,000 miles per year.
4. Can you reduce optional insurance on an older vehicle?
Collision may no longer make sense on an older vehicle that you’ve paid off. A common rule of thumb is to drop collision when the cost of comprehensive and collision together is greater than 10% of your vehicle's value. But speak with your We Insure agent to see if this makes sense in your specific situation.
5. Have you made improvements to protect your home?
Adding smoke detectors, sprinkler systems, burglar alarms or deadbolts to your doors can keep you safer and decrease your insurance premium.
Proceed with Caution with These Savings Strategies
Raise your deductible to lower your premium — but only if you can afford to pay it. On things like a wind policy, for instance, a higher deductible could mean many thousands of extra dollars out of pocket after a big storm. And many folks probably have less in their emergency fund or a lower salary than before. Also, be wary of signing on with a poorly rated carrier just to save a few dollars. You may find that the savings aren’t worth the cost of poor service in the long run.
Raise your deductible to lower your premium — but only if you can afford to pay it. On things like a wind policy, for instance, a higher deductible could mean many thousands of extra dollars out of pocket after a big storm. And many folks probably have less in their emergency fund or a lower salary than before. Also, be wary of signing on with a poorly rated carrier just to save a few dollars. You may find that the savings aren’t worth the cost of poor service in the long run.
If you’re ready to save money on your home, auto, business or life insurance policies, contact your local We Insure agent. Our agents have access to top insurance carriers and specialty insurance providers and can help you get the coverage you need at competitive rates.
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If you live in a hurricane-prone state, you should know that homeowners insurance doesn’t always pay for all the damage these monster storms can wreak. Depending on what state you reside in and geographic factors, like coastline proximity or location within a flood zone, you may need additional coverage to protect your property from the wind and flooding that can harm your home.
There are two types of insurance products you might need in addition to your homeowners policy to protect you: windstorm and flood insurance. With hurricane season entering its peak, it’s important to know that any new coverage you add to your policy can take approximately 30 days to go into effect.
According to the National Oceanic and Atmospheric Administration, the Atlantic 2020 season is expected to be above-normal with 13 to 19 named storms predicted. Two-thirds of homes in the US are under-insured for national disasters, but many don’t know it. For example, 80% of residents in the worst-hit areas of Hurricane Harvey in 2017 did not have flood insurance.
Let’s repeat: Having homeowners insurance does NOT mean it will cover the wind and flood damage that follows a hurricane. You may need separate policies to cover repairs or pay the cost of rebuilding your home.
Windstorm Insurance
In most states, standard policies cover damage from wind and hail, including hurricanes. However, some high-risk coastal states exclude windstorm coverage from homeowners insurance policies. If you live in a southern coastal community, insurers often require windstorm insurance that’s available as a rider on your current policy or as a separate policy. If the insurer doesn’t mandate the windstorm coverage, your mortgage lender may require some amount of protection. Even if your policy covers wind damage, it may only be partial coverage with a separate, significantly higher hurricane deductible than your standard deductible.
While some insurance companies no longer offer wind policies in beach areas, We Insure works with many insurers to provide this type of coverage. Additionally, a number of coastal states have beach and windstorm plans to offer coverage that’s pooled by private companies but administered by the government.
Windstorm insurance may cover damage from high winds not associated with a hurricane. And it could also cover rain damage if a wind or hail storm perforates the roof or walls of your home. Just be sure to contact your insurance agent to report any damage promptly, as there are often time limitations for filing a claim.
Flood Insurance
Floods are the most common and costly natural disaster in the U.S. If only one inch of water seeps into your home, it can cause $25,000 or more in damage. You may know that federal disaster aid provides limited assistance, but the aid is often in the form of a loan that you need to pay back. Homeowners insurance policies don’t cover floods, including water from a storm surge. Flood insurance is only available through an insurer or insurance agent participating in the National Flood Insurance Program, and We Insure partners with insurers that offer these policies.
If you own a home on property that’s in a flood zone or at high risk, your mortgage lender may require you to purchase flood insurance. That said, roughly 20% of claims come from properties not within a high-risk flood zone. If you live in a low elevation area with high exposure to storms, such as the state of Florida, flood insurance is a smart consideration even if it’s not required.
Flood insurance can cover the structure of your home and its foundation, plumbing and electrical systems, central air and heating systems, attached bookcases, cabinets, paneling, and a detached garage. It can also provide protection for personal belongings such as clothing, furniture, electronics, curtains, some portable appliances, freezers and the foods within them. Be sure to discuss the specific coverage of your policy with your agent.
The Power of We
If you have any questions or concerns about your current hurricane coverage — or want to shop or purchase a new policy — it's best to speak to an insurance expert who is knowledgeable about insurance needs in your geographic area. Determining the right level of coverage on your own can be daunting, and We Insure wants you to rest easy during this hurricane season. Talk to a We Insure agent before the storm clouds appear on the horizon.
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Are you thinking about purchasing a recreational vehicle to take your vacation on the road this fall for some socially distant fun? If you are, you’re not alone!
The RV Industry Association reports a 170% increase in sales for May 2020 compared to 12 months prior. As our national parks have reopened, many families want to salvage lost summer holidays in a safer way — and transport kids back to college without putting them on a plane. Snowbirds, who are at an increased risk for falling sick to the coronavirus, are also looking for new ways to head south this winter. And the appeal of RVs is broadening as many young families and retirees alike consider the RV lifestyle for the very first time.
But before you drive off in your home away from home, make sure you’re properly covered. Your auto policy may offer some RV-specific insurance protection for driving-related accidents, its contents and other issues — but may not give you all the coverage you need. Homeowners policies can provide offer some protection, but it’s generally limited to when the RV is parked at your residence. RV insurance typically combines the types of coverage common to home and auto insurance policies at a level that’s commensurate to the value of the RV.
Insurers differentiate RVs from passenger cars and SUVs because RVs are typically much larger, longer and more expensive than a standard vehicle — sometimes costing as much as a (stationary) house. The size of the vehicle can feel awkward to drive at first, and insurers anticipate a greater risk for accidents. You may find it more difficult to drive and park, especially in tight spaces like gas stations and off-road campsites. Read: Fender benders are more likely as a new RV road warrior!
Even minor accidents like scraping a pole or denting another RV can lead to expensive repairs. Purchasing RV insurance can get you the higher limits you need to cover damages, which can be substantially more than the average auto policy provides.
Beyond the typical dings and scrapes you might anticipate, being on the road for longer periods of time can make you more susceptible to Mother Nature, theft and a variety of other perils. Supplemental policies can cover costs your auto or homeowner insurance policy may not, like hotel or rental car reimbursement in the event of a breakdown.
One last note for those who are new to RV travel: If you’re journeying outside of the U.S. to Canada or Mexico, you may also need specific protections for taking your RV across the border. So be sure to talk to your agent about your upcoming travel plans.
We Insure offers exceptional customer service and competitive rates on auto, motorcycle, RV and boat insurance. So, before you hit the road (or the waves) talk to one of our knowledgeable agents so you can enjoy your next adventure with the protection you need.
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We all enjoy a good scare this time of year, but it shouldn’t be because you made a mistake with your insurance policy. Here are some of the ghastliest gaffes when it comes to your insurance coverage and how to avoid them.
1. Being Underinsured on Your Home
It’s a tough time for many Americans, and while we should always look for ways to trim the fat, cutting insurance coverage to the point where you have inadequate coverage is definitely not the best option. In the event of a disaster, being underinsured could mean losing tens of thousands of dollars or more if you have to repair or replace your home. One way to objectively determine if you have enough coverage is to use a web tool like AccuCoverage to account for custom features of your home and the cost of construction in your area. Review your current policy against the report to determine if you may need to change your coverage. One important detail in a homeowner’s policy that could cost you a bundle is whether your personal belongings are covered for their current (depreciated) value or at replacement cost.
2. Dropping Needed Coverage to Save
Some insurance companies make it easy — perhaps too easy — to opt-in and out of coverage through their websites. It may seem quick and painless to do, but if you don’t 100% understand the policy language, you could drop necessary coverage. Always check with your We Insure agent to ensure your cost-saving measures don’t accidentally remove coverage you need. For instance, if you live in a hurricane-prone state, you may need hurricane coverage, but windstorm damages caused by the winds created by a hurricane storm are not generally included. Hurricanes and windstorms go hand in hand, so excluding windstorm coverage could become a very costly mistake!
3. Shopping Solely Based on Price
If you’re shopping policies on price alone, you’re leaving key decision factors on the table: appropriate coverage, customer service and the reputation of the insurance company. A low price can mean many things, including limited coverage or a high premium. Determine what types of coverage you need first, and then have a We Insure agent shop carriers to give you an apples-to-apples comparison. Be sure to ask if any discounts are available. Auto insurers may offer a break for good driving behavior, and home insurers often give discounts for upgrades like a new roof or monitored alarm system. From there, you can make a final determination by reviewing the service quality and other reputation factors of the company.
4. Not Having Flood Insurance When You’re at Risk
Even if you don’t live in a high-risk area, most property owners should consider flood insurance. According to FEMA, during a 30-year mortgage, there’s a 25 percent chance you could experience flood conditions if your home is in a 100-year floodplain. Just one inch of flooding in your home can cost $20,000 or more in repairs! Flood zones change over time, so even if you weren’t in a flood zone when you first purchased your home, your risk may have since changed. An example of floods occurring in non-flood zone areas include the 50+-inches of rain from Hurricane Harvey in 2017, resulting in catastrophic property flooding in Texas and Louisiana.
5. Buying Bare-Bones Auto Coverage
The adage “you get what you pay for” can especially be true when it comes to cheap auto insurance. You’d be spooked if you knew the frightening risk you’re taking if you hurt someone in an accident and face a lawsuit without adequate coverage. Even minor accidents can lead to very costly damages. And inadequate coverage may put your home and personal savings at risk. Think about that threat before picking a plan with only the state-minimum mandated coverage.
6. Forgetting to Pay Your Premium
Whoopsies. We’ve all forgotten to pay a bill from time to time, but this is one mistake that’s completely avoidable. Set up automatic bill payment online or through your agent to take care of your insurance premium, or at least set up a recurring reminder in your calendar. Late payments can affect your credit report, and those who consistently pay late can end up paying higher insurance premiums and late fees as a result.
The Takeaway: Don’t cut and slash your insurance policies for short-term savings, especially during challenging economic times. It’s important to protect yourself from the types of disasters and worst-case scenarios that can wipe out a lifetime of savings. Take calculated but informed steps and work with a We Insure agent to guide you along the way — and save the scares for the Halloween horror movies.
November is one of the busiest times of the year for car travel as families head to grandmother’s house for turkey and trimmings. Since the holidays are wild enough with your Great-Uncle Sal, take heed of our travel preparation tips so you can deftly handle roadside breakdowns — or prevent them altogether!
1. Don’t skip essential maintenance. This is still important, even if your car has been idle these past months. Take your vehicle in for a standard checkup at your local service center to do things such as:
• Top off fluids, including windshield wiper fluid for optimal visibility.
• Check your headlights, brake lights and turn signals.
• Inspect your tire treads for wear and inflate tires to the recommended levels in your owner’s manual for a safer, more comfortable ride.
• Check your car battery — the exceptionally hot summer months this year may have drained it faster.
• Change your oil, if it’s due.
2. Travel with emergency supplies. You may be feeling confident that you already have jumper cables, a spare tire, jack and first aid kit in your car, but when did you last open the trunk and inspect these items? Many a weary traveler pulls out a flat spare tire or opens up the first aid kit to find essential items missing or damaged.
Other emergency items that you’ll want to have on hand include extra water and food, a flashlight, motor oil, radiator fluid, emergency lights or flares, phone chargers/power packs and a fire extinguisher. Have an extra supply of any medicines you need to take, hand sanitizer and disinfectant spray/wipes as well as extra masks for all passengers. Depending on where you’re headed, you may also need snow supplies like an ice scraper, snow shovel and blankets.
3. Make sure you have good auto insurance coverage and roadside assistance. Before you hit the road, have your up-to-date insurance documents and registration handy — and lock in your emergency roadside assistance insurance coverage. Emergency roadside assistance generally covers towing, battery jumps, tire servicing, gas delivery and lockouts. But what if you have more serious car trouble and need to have your car towed to the nearest service center? You could be stuck somewhere between Yeehaw Junction and Miami for an overnight stay or longer while waiting on repairs.
Fortunately, there are other insurance options that cover alternative transportation, accommodations and even a food allowance for you and your co-travelers. Road trip accident accommodations coverage is actually quite affordable, so get a quote from your local We Insure agent before your holiday travel this year.
It Could Happen to You — Be Prepared!
Don’t kid yourself when you see a disabled vehicle on the side of the road and think that it won’t happen to you — one day, it could. By following these tips, you can overcome many problems quickly and arrive fresh and in time for all the family fun.
If you’re ready to save money on your auto, home, boat or business policies, contact your local We Insure office. Our agents have access to top carriers and specialty insurance providers to help you get the most coverage at the best rates.
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It’s sad but true — the holiday season is prime time for theft. Protect yourself against would-be ne’er-do-wells with these holiday safety tips from We Insure.
1. Don’t broadcast travel plans. As tempting as it may be to post pictures of your family ice skating at Rockefeller Center, resist the urge. You may think you’re just sharing with friends on social media, but the internet’s call letters are www (world wide web) for a reason. Post as many pictures of your holiday adventures as you like — once you return.
2. Don’t leave tell-tale boxes for expensive items curbside. Television boxes that get tossed to the curb let everyone know the make, model and size of your brand-new 4K TV. It’s a burglar’s dream because it signals which homes to target to score the latest electronics. Break down boxes and place them inside your bin for stealthy recycling.
3. Use programmable lights. Keep thieves guessing if you’re home with programmable lights. They may be the oldest trick in the book because they work! Set up lights in various rooms to turn on and off on a random schedule.
4. If you’re traveling, hold the mail or have a neighbor take it in. The USPS offers a hold mail service that you can request online or in person at your local post office. Either choose to have your mail delivered upon your return or pick it up when you get back. Having a neighbor collect your mail and check in on your home is an even better solution because they can inform you of any trouble — and no one you don’t know will have the information that you’re away.
5. Never leave deliveries unattended. Arrrgh … the dreaded porch pirates! Theft of boxes left at the doorstep during work hours has sadly become commonplace. Fortunately, you can protect yourself from pirate plundering with a little pre-planning and creative thinking. Ship items to your office or to a stay-at-home neighbor. Some delivery services can send your packages to a safe place until you can pick them up. FedEx has arrangements to store Amazon deliveries in special lockers at local retailers.
6. Lock doors and keep valuables out of sight. An unlocked door is an open invitation for unwanted visitors. It goes without saying that you should always lock your doors, but even the most diligent people can let their guard down from time to time. Another tip is to tuck your laptops, iPads and other valuables away from sight. Teaching your kids these simple safety habits will prepare them for when they live on their own someday.
7. Guard against identity theft. The holidays are a good time to check your statements twice to find out if someone naughty is stealing your identity. Review them line by line for extra charges from purchases you didn’t make. Sign up for credit alerts from one of the credit monitoring services available online.
8. Make sure you’re properly insured. Standard homeowners insurance policies cover theft of personal belongings from your home but may exclude high-ticket items like jewelry, electronics and cash. These more-expensive items are popular holiday gifts, but your current policy may limit (or exclude) reimbursement for them, so you may need to add a rider to have them covered. Your local We Insure agent will be happy to provide you with a fast and free homeowners insurance quote. And we can shop over 100 top-rated carriers to find you the best deal on the coverage you need.
Take these tips to heart this holiday season to protect your family and belongings from unfortunate events. From We Insure’s family of service providers across the United States to yours, Season’s Greetings and a happy and healthy New Year!
Every year, champagne in hand, we count down to the New Year while watching the ball drop. So, we thought this would be the perfect time to count down ten steps you can take to create a safer home in 2021.
10. Install a Wi-Fi camera. With the advent of Wi-Fi security cameras, hard wiring is no longer necessary. This brings installation costs down considerably and makes the technology a lot more accessible for many people. Wi-Fi cameras and doorbells can record activity outside your home and send alerts to your mobile phone when motion is detected.
9. Pressure-wash walkways. Don’t let mold and mildew build up on walkways, steps, patios and other hardscapes. Excessive buildup can make these surfaces slippery and a falling hazard. Enlist professional help or rent a pressure washer at your local home store.
8. Install motion-sensitive exterior lights. Motion-sensitive lighting can deter burglars and provide added safety when navigating your property at night. They’re inexpensive and easy to install. And many models are battery-operated and don’t require hardwiring to your existing electrical system.
7. Install a carbon monoxide detector. While smoke alarms are fairly common, homeowners frequently overlook carbon monoxide detectors. But they can be life-saving should this deadly gas build up inside the home. Because these fumes are odorless, they can pose a grave danger when left undetected.
6. Install a monitored security system. Once again, Wi-Fi technology can help you avoid the necessity of hardwiring equipment in your home and lower installation costs. An added bonus: You may also get a discount on your homeowners insurance by showing proof of your security system. Contact your local We Insure agent to see if you qualify.
5. Professionally inspect your chimney. Soot and other debris can build up inside chimneys and cause a fire hazard. Have a local professional thoroughly inspect and clean it out to make sure your chimney is safe and unobstructed.
4. Purchase fire extinguishers for your home. Place easily accessible fire extinguishers on every floor of your home and make sure everybody in the house knows how to use them properly. Fire extinguishers have different ratings for the types of fires they’re effective on. Be sure you also have a specialized one for grease fires, which are more likely to occur in the kitchen.
3. Anchor furniture to walls. About every 43 minutes, a child suffers injury in a furniture tip-over accident in the United States. Even smaller pieces, like dressers, are vulnerable to this danger. Learn how to properly anchor furniture at https://www.anchorit.gov.
2. Keep a first-aid kit stocked and ready to use. During the pandemic, many people are hesitant to venture out — even to see a doctor. It’s especially important right now to maintain a well-stocked first-aid kit at home to treat minor injuries. But be sure, however, to seek prompt medical attention for anything serious.
1. Review basic safety habits. Keep doors and windows locked. Close blinds and draperies at night, and store valuables out of sight. And never open the door to strangers. Teach your children basic safety habits to better prepare them for when they will someday live on their own.
While these tips may not be as exciting as a ball drop in Times Square, keeping your home and family safe is certainly worth celebrating. Hopefully, you’ll never need to use your homeowners insurance. But if you do, having the right coverage with a reputable insurer that provides excellent customer service is critical.
We Insure can help you shop for a policy that’s right for you at a price you can afford — and we’ll be there to assist you should you ever need to file a claim.
Making a mistake with your insurance can cost you. Here’s a list of common missteps that can land you (and your pocketbook) in big trouble if you’re not careful.
Underinsuring your home. As home values appreciate in your neighborhood, you may find yourself underinsured — especially after making major renovations. Insure your home for the cost to rebuild it, and not its current market value. Review your home’s value with your We Insure insurance agent on a regular basis.
Selecting an unaffordable deductible. Choosing a high deductible can save on your monthly premiums, but it’s not a good idea if you can’t afford big upfront costs when disaster strikes. Be sure you have enough money in an emergency fund to cover your maximum deductible should the need arise.
Assuming all your belongings have coverage. Basic homeowners policies routinely exclude a number of items, including jewelry, electronics, artwork, cash and collectibles. The list can vary from carrier to carrier. Review your policy with your agent to make sure you have coverage for all of your valuables. You may need to purchase an additional rider to cover some of these items.
Not shopping around. Depending on where you live, We Insure can compare prices from up to 100 top-rated carriers. This can result in substantial savings on the coverage you need. We’ll do all the legwork for you and give you an apples-to-apples competitive quote for your home, auto, business, RV, boat and other policies you need.
Buying the least expensive coverage. While there’s nothing wrong with shopping around for a good deal, if you let price be the only deciding factor, you might end up with insufficient coverage, or a policy from an insurer that’s not on solid financial footing. Customer service is an important consideration as well. Be sure to balance price with features and service when shopping for a policy.
Ignoring flood risks. Flood insurance is relatively inexpensive and covers a peril that most homeowners insurance policies exclude. Check to see if your home is in the flood zone by consulting the National Flood Insurance Program (NFIP).
Buying a bare-bones auto policy. Purchasing the minimum amount of liability insurance may put you in a bind should you ever face a lawsuit after an accident. State-mandated minimums are just that – minimums. Depending on your financial circumstances, it may be advantageous to obtain additional coverage.
Neglecting to ask about discounts. You can often save money on your premiums by documenting that you have an antitheft system in your car or monitored security in your home. You may also save by bundling homeowners and auto insurance policies with the same carrier. A We Insure agent will be happy to check for all available discounts for you.
We Insure offers competitive rates on top-rated homeowners, business, boat, and RV insurance products, among others. Our friendly and knowledgeable agents will give you a fast and free competitive quote for all your needs. All insurance is not the same, and service matters. Call your local We Insure independent agent today.