If you’re like most people, you don’t examine your insurance documents until you need to make a claim.
And that’s when you’ll notice it.
Your insurance company isn’t paying you enough to replace your totaled car, stating that your policy only reimburses you for “actual cash value.”
It’s a confusing distinction, understanding actual cash value vs. replacement cost is an important part of creating the coverage level you need.
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If you have a small business, you are probably aware that you need a Certificate of Insurance (COI).
You might have been asked to provide one by a savvy consumer or potential landlord. Or perhaps your independent insurance agent advised that you have one.
You may not even have the slightest clue what it is.
As Central Florida-based independent insurance agents, we not only know what a Certificate of Insurance is, we’re also used to answering questions about them. Let’s answer some of your top questions about your Certificate of Insurance.
Maybe you’re starting a new business. Or perhaps you’re just curious about whether you’re overspending on your premiums. Getting an insurance rate comparison is a great way to research your options and get a policy that’s right for you.
But you have a choice: use up next week’s lunch breaks calling every insurance company you can or getting an insurance rate comparison from an independent insurance agent.
Aside from the fact that they’re completely free (yep!), here are five reasons why local independent insurance agents are better than buying your policies directly from the corporate office.
With millions of drivers between them, ridesharing platforms like Uber and Lyft remain popular for anybody with a dependable car looking to make some extra cash.
But while you may have wondered whether you can actually make a living as an Uber driver, you might not have bothered to think about another crucial number: rideshare insurance.
Just like a Business Owner’s Policy (BOP) combines multiple categories of protection into a single policy, typical homeowners insurance covers three major categories:
It is this last category—theft—that often raises questions, even among veteran homeowners.
If you own any type of business, you probably know that a Business Owner’s Policy (BOP) is an essential tool to have in your insurance arsenal. But it’s not the only kind of commercial insurance you need.
Your BOP doesn’t provide any coverage for vehicles, so you’ll need a separate policy if you want auto insurance. (Trust us, you do!)
You might have heard from other well-meaning business owners that your personal auto insurance will cover business use. In most cases, this isn’t true.
Let’s take a look at the difference between personal and commercial auto insurance.
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You just received another letter from your insurance company notifying you that your car insurance rates will be increasing this year.
“Why did my car insurance go up?!” you scream in frustration. “I didn’t even have any claims!”
Unfortunately for car owners, this is an common occurrence…and it doesn’t look like it will stop anytime soon.
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Most business owners hear the phrase “general liability insurance” and assume that they are covered against “general” liabilities.
This assumption could not be further from the truth.
The fact is, as a business owner, your general liability insurance coverage isn’t enough to protect your business from every foreseeable risk.
As every insurance carrier and broker knows, risk is unpredictable. After all, that’s why insurance exists.
But while there are some forms of risk that are foreseeable—fire damage, car accidents, catastrophic hurricane damage—there are other types of losses that are far more surprising.
Even more surprising? You can get insurance for them.
Here are 10 crazy insurance policies that actually exist (and why they’re not all that crazy).
As a business owner, you’ve heard about (or currently carry) a variety of different commercial insurance types, from worker’s comp to EPLI insurance.
But if you own (or want to start) a business that relies on any kind of vehicle, one type of insurance you can’t go without is commercial auto insurance.
