My business is able to expand to a second location, what factors do I need to consider for adjusting my commercial policy?

As an entrepreneur, it is exciting when your business can open up a second location. The problem that you may face is related to your commercial insurance policy. You may have a variety of concerns associated with the policy, but certain factors are an important part of expanding your business.

Additional Liability Protection

When you expand your business, it is also important to add to your liability protection policy. Accidents that take place on company property or within a rented space that you are using can add up quickly in hospital bills and related expenses. In general, it is best to add to your current liability plan so that your insurance policy will cover most of the damages.

Depending on the situation, you may need to add a separate plan for the new location or your insurer may allow you to cover both locations within the same policy, depending on the company and the details of your current plan.

Property Protection

As a general rule, it is best to obtain additional protection for your company property when you purchase or rent a new location. The second location is not currently under your plan, so the additional protection can be useful when you are opening up the store.

Along with the basic protection plan for the company building or the second location that you purchased, it is also important to protect any other assets or property that your business owns. For example, you may need to add protection for additional computers, registers or similar electronics that you need for your business. Depending on the items, the appropriate policy amount may vary.

It can seem challenging to open up a new location, but many factors associated with your insurance are primarily related to adding to your current plan and updating your data. In some cases, you may determine that it is better to work with an independent agency to find a new policy. Working with an agency is beneficial because you can obtain a plan that is appropriate for your budget and your concerns.

We discovered shoddy work well over a year after we had home renovations done. Does my homeowners policy offer any help to fix the problem?

Home renovation may improve the appearance of a house, but it can also cause problems in the future if the work is not completed accurately. If you discover shoddy work more than a year after the renovations were completed, then the options that may be available in your homeowners insurance policy can vary.

Policy Details

The details of your property policy depend on the coverage that you purchased and the problems that the shoddy work is causing. In the case of renovation work that has become damaged, broken or otherwise causes major problems, it may be possible to make a claim on your current plan.

Repairs are often covered in a homeowner’s insurance policy, but some insurers may have specific details about the situation that must be met before funds are provided to make the appropriate changes to your home.

Clauses and Limitations

Although some insurers may offer solutions and assistance, it is possible that your insurer will not provide coverage for shoddy renovations or work that was completed more than one year ago.

Insurers often have clauses, exceptions and other details within the policy that help identify situations that are covered and situations that are not. In general, the faster you discover the problems with your renovations, the easier it is to repair the problem and make a claim on your policy.

If you are not sure about the details of your current plan, then read the policy thoroughly before you contact your insurer. Pay particular attention to the clauses, exceptions and any other notes that may limit the situations that are covered.

Every insurance policy is different, so shoddy renovations and problems with your house may or may not be covered based on the details of your plan. When you discover that your current policy is not appropriate for your needs, you can compare quotes online to find the best premium and plan for your situation. An independent agency can help you find the best plan for your situation, goals and personal budget.

We have a tree in the backyard causing allergy problems for us, is its removal covered by our home insurance policy?

Allergies that are caused by a tree in your yard can be a problem that lasts for years if you do not remove the plant. The problem is that the removal of a tree can exceed your budget and the funds that you have available for the project. Depending on your homeowners insurance policy, it may be possible to make a claim so that you can remove the plant.

Tree Removal

When you work with an independent agency to compare quotes for your property online, you have the opportunity to select the coverage that you want. Insurers often offer a variety of different plans and solutions that can help ensure your home is safe, but the details of every insurance policy can vary.

Tree removal due to an allergy may or may not be covered in your current plan. Some insurers may offer funds to remove trees from your yard in certain situations, but the situations that are allowed under your policy may vary.

Evaluate Your Plan

Before you make a claim, evaluate your current plan to determine if you have coverage for the removal of a tree. If you do have coverage, then look for any exceptions or clauses that may limit the times when you can make a claim.

In general, insurers will allow you to remove the plant if it is causing danger to your home, property or the property of a neighbor. It may also be possible to remove the plant if it is causing severe allergies that are dangerous to your health or the health of other individuals in the house. There may be exceptions or limitations on the coverage that is available, so it is important to read your policy thoroughly before you make a claim.

Insurance for your home is designed to protect your property, but you may also have solutions if your health is being impacted by plants in the yard. Contact us to talk to an agent for more information about the coverage options that are available for your property.

My Son or Daughter Will Turn 16 This Year. What Do I Need to Know to Update My Auto Insurance Policy?

As your son or daughter gets begins to drive it is often time to update your auto insurance. With a new driver on your policy, you’ll need to take a few key things into consideration. The good news is that you can update your policy with an independent agency to ensure your child has the necessary coverage.

If your child will be driving your vehicles, be sure to discuss this with your insurance agent. He or she should be named on the policy if possible. Additionally, if you plan to buy another vehicle, it is also important for you to have proper coverage on that car. You may not need a comprehensive policy unless the value has high worth. Liability coverage may be enough in some situations.

In many situations, the dependent can be added to a parent’s insurance policy. You may want to do this to keep costs lower. Keep in mind that because he or she is young and inexperienced, the insurance rates tend to be significantly higher than they would be for you, as an adult. Adding the child to your policy, though, will save money in the long term.

Be sure to talk to your agent about options for keeping costs down, too. Even if you decide to provide your child with his or her own policy, especially if there is an added car into the mix, there are likely discounts available. Good student discounts are a common option, for example.

Talk to your independent insurance agent today to make sure you and your child are covered.

Why is an annual checkup with my insurance agent a good idea?

An annual review or checkup is the best way to stay on top of your insurance policy. Take the initiative to meet with your agent to go over your car, home, life, or other policy.

When you shop for a homeowners policy, for instance, it is always wise to compare quotes from different insurers. At an independent agency, you can get multiple quotes online from insurers to see what the best option would be for your needs. But what happens once you get that policy – how do you make sure that you keep getting the best price?

This is where the annual checkup comes into play. You can make sure that your property is covered at the best price, as your agent can make sure that the competition isn’t offering a better deal at this point. There are some other critical reasons why you should also make that annual checkup:

  • You can update your policy. In a homeowners policy, the value of your home can change each year. You may need a bit more protection, which you can update in your checkup. If you fail to do so, you might not have enough protection in your policy if something were to happen.
  • You can account for changes that will lower your premiums. What if you recently qualified for a discount on your auto policy? A checkup can make sure that your policy is up-to-date with all applicable discounts that can benefit what you pay.
  • Other items can be discussed as well. Do you have any questions about your policy or want to see what a lower deductible would do to your premiums? How about a payment method change? You can easily take care of this during your annual checkup for added peace of mind.

Go ahead and make that annual checkup with your insurance agent. It is a great time to ask questions, update your policy, and make sure you are getting the best price!

California Car Insurance Requirements

In California, it is required that every driver has the statutory minimum liability insurance. There are several required features you must have on your insurance policy. In order to make sure you are following the state requirements, California insurance companies will make sure you are following the law when you purchase your insurance policy.

In order to make sure you are following the laws, you can find the state minimum requirements below.

Bodily Injury Minimum Requirements for California Automobile Insurance:

  • $15,000 injury or death coverage for any person in an accident
  • $30,000 for all people in an accident
  • Property Minimum Requirements for California Auto Insurance:
  • $5,000 for any accident

In order to comply with these requirements, you must purchase an automobile limited liability insurance policy, put a cash deposit down with the DMV, have a certificate of insurance by the DMV for fleet insurace of 25 vehicles or more, or you must have a surety bond for at least $35,000 from an insurance company.

Many new vehicle owners are required to have full coverage by their financial institution until the loan is paid off; it is important to check with your financial institution to ensure that you are purchasing the right amount of insurance for your vehicle. In order to find the best insurance policy, you can search for California automobile insurance online and find several companies that offer great rates on the state minimum required insurance. You can also find many discounts for being married, being over the age of 25, a good credit rating, and a safe vehicle.

Penalty for Cancelling Insurance Policy within Policy Period

Insurance policy holders are often on the lookout for better ways to save money. Occasionally, a policy holder might come across a better quoted deal on a particular car insurance policy. The policy holder in order to take advantage of this situation must cancel their policy with their existing insurance company and sign with the new one.

This may sound like a great idea, but if the insurance policy is still within the policy period, there may be complications. Some insurance policies may charge a fee or penalize a policy holder if a current policy is canceled within the policy period.

What Is the Definition of an Insurance Policy Period?

Policy period is defined as the length of time an insurance policy is valid. The length of time for the policy will vary depending upon the insurance company and type of insurance policy. The length of time for an insurance policy period could be determined in months or even years.

Will a Penalty be Applied for Cancelling During a Policy Period?

Insurance companies in Texas have the legal right to charge what is known as a short rate cancelation penalty. This monetary fee is assessed in an effort to recover costs associated with transferring the policy.

It is also meant as a way to cover the insurance company’s potential loss of profits, as the insurance policy holder agreed to a certain length of time in a contract and is backing out. That was potential profit the company anticipated which will no longer be available.

How Can an Insurance Policy Holder Determine if a Penalty Will Be Applied?

Any potential fees or penalties that will be assessed if a policy holder cancels a policy during the policy period will be outlined in the terms and conditions of the insurance policy. This section will determine how much the fees or penalties will be for this simple action.

Individuals shopping around for auto or car insurance policies may want to consider getting several quotes online. Obtaining several insurance quotes allows individuals to compare the various quotes rates and read over the terms and conditions to determine if a penalty will be assessed for cancelling during a policy period.

Where Can I Get Home Insurance Coverage in New York if I Have Been Canceled?

If your home insurer cancels or decides not to renew your insurance policy, you may be wondering where you can find coverage for your property. Although insurers in New York have the right to refuse you as a customer if they consider you to be a high risk, it doesn’t mean you are doomed to carry 100 percent of the financial liability for your home and its contents.

As soon as you receive notice of your home insurance cancelation, begin shopping around for policies from other insurers. It is best to begin your search online before narrowing down your options to the most reputable insurers willing to give you a good rate for the coverage you want. Keep in mind that your previous insurer’s decision not to renew your policy doesn’t necessarily mean that other insurers won’t want your business either. Each New York insurance company uses different methods and formulas for determining a policy-holder’s risk factor and premium.

If after shopping around, you still cannot find an insurer to cover your property, you may look to the New York state home insurance pool, which provides coverage to homeowners who cannot otherwise find insurance. The coverage comes at a higher price than that of private insurers, but will protect you in the event of a disaster. In New York, most homeowners who participate in the state home insurance pool are those who live in the lower coastal regions, which are prone to hurricane, wind and hail damage.

Where Can I Get Home Insurance Coverage in New York if I Have Been Canceled?

If your home insurer cancels or decides not to renew your insurance policy, you may be wondering where you can find coverage for your property. Although insurers in New York have the right to refuse you as a customer if they consider you to be a high risk, it doesn’t mean you are doomed to carry 100 percent of the financial liability for your home and its contents.

As soon as you receive notice of your home insurance cancelation, begin shopping around for policies from other insurers. It is best to begin your search online before narrowing down your options to the most reputable insurers willing to give you a good rate for the coverage you want. Keep in mind that your previous insurer’s decision not to renew your policy doesn’t necessarily mean that other insurers won’t want your business either. Each New York insurance company uses different methods and formulas for determining a policy-holder’s risk factor and premium.

If after shopping around, you still cannot find an insurer to cover your property, you may look to the New York state home insurance pool, which provides coverage to homeowners who cannot otherwise find insurance. The coverage comes at a higher price than that of private insurers, but will protect you in the event of a disaster. In New York, most homeowners who participate in the state home insurance pool are those who live in the lower coastal regions, which are prone to hurricane, wind and hail damage.

Liability Protection for New York Home Insurance

When you purchase a homeowner’s insurance policy, your primary concern is probably protecting your personal assets and the structure of your house from potential hazards, such as fire, hail or theft. However, an important part of purchasing a home insurance policy in New York is including homeowner’s liability protection.

Liability for home insurance protects you in case another person becomes injured on your property. This includes not only individuals who you personally invite to your home, but also those who trespass on your property without your permission. It will pay for the medical expenses of someone who is injured for any covered reason on your property, whether that be tripping over your area rug or suffering an injury while swimming in your pool.

Without proper liability coverage, an injured person may sue you personally in a New York court. If he or she receives a favorable judgment, you may have to pay for medical expenses and other losses out of your pocket. Instead, be sure to include homeowner’s liability coverage in your policy.

Although most New York home insurance policies already have such provisions, make sure your policy has at least $300,000 in homeowner’s liability coverage. Your liability policy should provide medical and personal property damage protection to others at your home, as well as payment for your own legal defense fees related to an accident on your property.