Full Service Florida Insurance Agency

Mother’s Day is yet again right around the corner this year, and families all over the world are scrambling to get their wife or mother that perfect gift that she will cherish forever. With some gifts, a little extra care in a way you may have not thought of just might be the gift your wife of Mom may thank you in the long run for. Insurance coverage for your potentially expensive gift could be a very valuable investment for a multitude of different reasons.

Perhaps you have finally saved enough money to buy your special woman that beautiful diamond ring she has always wanted, and after receiving it, she loves it so much that she wears it everyday, and brings it with her wherever she goes but it is not covered by an insurance plan. During a family outing, your wife or mother washes her hands in a restroom, and accidentally leaves her beloved gift on the edge of the restroom sink.

On the way home, realizing what she has done, she hurries back to the restroom to find that the gift she loved so much was not to be found. This is a situation where jewelry insurance coverage could mean the difference between temporary or permanent heartbreak. Different types of insurance provide a certain security for your possessions and provide you peace of mind, so do look into the different options.

People who want to protect the items in their homes purchase homeowners insurance coverage. Responsible drivers purchase incidental insurance coverage to protect themselves legally, and financially. So remember to keep in mind this Mother’s Day that when you are searching for that perfect gift, sometimes going the extra mile to make sure it stays safe and with her forever means the most to Mom this year.

One of the top worries on a business owner’s mind is insurance coverage for such claims as theft or damage to property. While these do occur on a regular basis, there are some more common claims that you should take into account as well:

Burglary and Theft By Employees

Theft by customer does occur, but theft by employee is much more prominant.

Commercial auto insurance does cover for this type of theft, as does homeowners insurance coverage if the theft happened at home. On average, the cost of employee theft is about $8,000 per occurance in the United States.

To prevent this type of thing from happening again, install security lighting, cameras and perform background checks on everyone before you hire them.

Water Damage

Water and freeze damage to pipes accounts for about 15 percent of claims filed by small business owners every year. Regardless of the type of business insurance you have, the costs you incur when fixing the damage should be covered by your policy.

Avoid this in the future by keeping the interior area of your store warm. Perform routine checks on your pipes during the coldest months of the year.

Fire Damage

Last year, fire damage accounted for more than 10 percent of all commercial insurance coverage claims. On average, each claim cost about $35,000 when insurance companies were done making payments.

In the future, test all fire alarms and systems, and always keep your nose open for gas leaks.

Slip and Fall Accidents

Slip and fall accidents accounted for about 10 percent of claims that were filed last year. This number is surprisingly low for many business owners who have experienced these types of lawsuits in the past.

Save your customers from falling by mopping up your store every hour or two. If you have a large store, be sure to check for areas that are prone to wet spots.

Business Auto Losses

Many businesses use vehicles as part of their daily business to serve clients. In some cases, small businesses have nothing but their vehicles to run their companies.

While not a major part of the type of business insurance coverage claims that were filed last year, adequate auto insurance coverage is always needed to help protect from unforeseen losses, especially if you operate in a major metropolitan area.

Types of Commercial Insurance for Small Businesses

The type of insurance a commercial client needs does depend on statistics for their type of business and location.

For example, a pizza parlor will likely need commercial insurance that includes fire protection, auto coverage if they do deliveries and some type of theft coverage. A company that specializes in tax preparation probably doesn’t have a need for fire protection or auto insurance coverage, but will need theft coverage and vandalism, if necessary. If the business is not located in a climate that experiences extreme cold conditions, insurance that includes protection from water and freezing pipes is likely unnecessary as well.

Each company should purchase a policy that is catered to his or her own business to save as much money as possible while ensuring they have enough protection for their assets.

Know Your Insurance Coverage

A common question many policy holders ask is, “Does my insurance coverage reimburse me for actual cash value or will it cover me for the replacement cost of damaged or stolen item?” There are significant differences between the two and it is a question you should have answered prior to signing on the dotted line of your policy.

Replacement Cost Coverage

Let’s say that your homeowners insurance coverage is a replacement cost policy. One day you come home to find the neighborhood kid who won’t stay off your lawn has just hit a baseball through your window and smashed that new LED television to dust. Your replacement cost policy will allow you to file a claim for a brand new television that is the same brand and of similar quality, so all in all, not a bad deal.

Actual Cash Value Policy

Let’s look at a different situation now. You have auto insurance coverage that will allow actual cash value claims on damaged or stolen property that is covered. So one day you are leaving work and see that a city bus took a turn too wide and totaled your 1995 Ford Taurus.
With your ACV policy the cost of depreciation will be factored into your reimbursement. The legal system also has different ways of interpreting “actual cash value” which could further affect your claim. In other words, you won’t be getting that 2015 Taurus thanks to a bad bus driver.
These types of coverage plans can apply to many types of coverage from renter’s insurance, homeowner’s, auto and even commercial insurance coverage. You may see lower premiums on a cash value policy but may end up losing out in the long run if you need to file a claim. It’s helpful to know the difference because being in the dark has the possibility of hitting you right in the pocketbook one day.

Hurricane season, which generally lasts June 1-November 30 in the United States, can be of great concern for business owners or homeowners who live in areas prone to these forces of nature, such as residents of the east and gulf coasts. With the 2015 season right around the corner, spring time weather can turn deadly very quickly. Therefore, it’s imperative people in these areas make sure various types of insurance coverage, such as homeowners insurance coverage and auto insurance, are updated to cover any losses they may incur.

For homeowners, there are steps they can take to help limit potential damage to their homes. Permanent storm shutters can be installed to keep windows from breaking, while straps or clips can be used to secure the roof to the frame’s structure in the event high winds arrive. It’s also a good idea to make sure all garage doors are reinforced, since failure to do so can result in catastrophic structural damage to a home if wind enters in this manner.

Business owners can also take steps to ensure they come through the situation with as little damage as possible. Commercial insurance policies should be updated to make sure the coverage is adequate, since many businesses start out with modest coverage amounts and then need additional coverage as the business grows. To limit damage to the building and surrounding area, any trees or bushes planted around the exterior should be trimmed back to make them as wind resistant as possible. Important documents should be put in a fireproof box and moved to a safe location, as should any equipment that can be transported.

Whether a homeowner or business owner, hurricane insurance should be an essential part of any insurance package for people living in the pathways of these destructive forces of nature.

The Hartford Products