12 Types of Insurance Important for Small Business Owners

Having home insurance is an essential part of home ownership. But did you know that where you live can affect how much you are paying for your insurance? Below are three location related items that can affect your homeowners insurance rates.

1. FIRE DEPARTMENT PROXIMITY

If you are close to the fire station, you’re going to pay less for home insurance. Homes that are close to the active fire departments will usually not cost as much to insure. This is also true for the houses that are close to fire hydrants.

Suburban and urban homes will usually get better fire protection ratings than the urban areas. Having your fire department close to your home is going to help with keeping the house safe if there is a fire.

2. PROXIMITY TO NATURAL DISASTERS

If you live in an area that has a lot of natural disasters like earthquakes or flooding you are going to have a higher rate. Homes that are closer to the coastline or coast generally will be more expensive when it comes to insuring them when compared with inland homes. Homeowners who are living close to the coast might have another deductible for things like hurricanes or another an insurance policy for windstorms. But even though you are living close to any kind of water can affect your rates due to the flooding risk.

Flood damage isn’t covered by the usual home insurance policy. It’s often a good idea to take another policy for food insurance despite the fact that you may not be at high risk when it comes to flooding.

3. CRIME RATE IN THE AREA

If you’re living in an area that has a high crime rate, you are going to pay more for your home insurance. Things like arson, burglaries and robberies can drive up the rates for your insurance. You can help with keeping your rates lower by having an alarm system put in your home.

When you are comparing your homeowner’s insurance rates with friends and family, if yours are higher or lower with all other variables being equal, it could be because of the home’s location.

FREE INSURANCE REVIEW

WhitCo Insurance agents provide this free service  just for you. Meet with our agents in person or connect online to review your coverage to keep up with your changing insurance  needs. If you would like us to explain your insurance policies in plain English, you can contact us  a call at 866-298-7608.

We hope you will benefit from our web site  and can take advantage of our insurance experience in Punta Gorda and North Port, Florida.

If you have a home, you are going to need home insurance. But there are a lot of myths that you may believe about homeowners insurance. Below are 10 myths about home insurance and the truth behind them. 1. IT COVERS FLOOD DAMAGE Home insurance won’t cover damage from flood. You have to buy an insurance policy that is specifically for flood so that you are covered. 2. IF I’M INJURED MEDICAL EXPENSES WILL BE COVERED That medical part of the home insurance policy is designed for your protection if there is a guest on your property and they get injured. Your family and you aren’t covered if you or they are injured. 3. IT’S DUMB TO INVENTORY YOUR POSSESSIONS Having a list of the things in your home is the proof that you own them. When you have to make a claim, you have to list the items that had been listed to insure that nothing was forgotten. Which will maximize your reimbursement. 4. MY PREMIUM INCREASES WHENEVER I FILE A CLAIM One claim might not mean that your premium is going up; but when you have more than one claim it might mean that the premium has gone up. Always estimate the cost of repairs before you file your claim. If the cost is not going to be a lot higher than the insurance deductible, it’s a better idea to fix it on your own dime instead of filing your claim. 5. IT COVERS EVERYTHING VALUABLE, INCLUDING FURS AND JEWELRY Your policy will only cover so much regarding valuable coverage. If you have something that is over that amount, it’s better to buy more coverage for the items. 6. POOR MAINTENANCE DAMAGE IS COVERED If you have damage due to something like mold, which is usually because of poor maintenance, you are not going to be covered. You are the one who is responsible for your home’s maintenance. This way major repairs are going to be prevented and your home is going to be safer. 7. YOU ONLY NEED FLOOD INSURANCE IF YOU’RE IN A FLOOD ZONE Floods happen everywhere. The regular insurance policy isn’t going to cover the damage that flooding causes, so you want to have some flood insurance. 8. YOU MUST LOWER COVERAGE TO LOWER THE PREMIUM Reducing the coverage so you can save on the premium isn’t smart. You need to have adequate insurance. In order to keep the premium low, look at the options that you might be able to get which could lower the premium. One thing that might help is buying a burglar system. 9. THE DWELLING COVERAGE AMOUNT IS BASED ON THE HOME’S PURCHASE PRICE You should base this upon what your home will cost to replace. It doesn’t have to include your property’s land. Replacement cost usually is calculated when you multiply the up to date construction costs and your home’s square footage. 10. IT’S NOT POSSIBLE TO BUY A HOUSE AND NOT BUY HOME INSURANCE If your home is mortgaged, most of the lenders might require that you buy home insurance. However, it’s usually up to you to buy your insurance. These are the myths that you may have heard about homeowners insurance. Know the truth and you’re going to save money, time, and heartbreak. FREE INSURANCE REVIEW WhitCo Insurance agents provide this free service just for you. Meet with our agents in person or connect online to review your coverage to keep up with your changing insurance needs. If you would like us to explain your insurance policies in plain English, you can contact us a call at 866-298-7608. We hope you will benefit from our web site and can take advantage of our insurance experience in Punta Gorda and North Port, Florida.

Have you bought your first house or are you looking for a new homeowner’s insurance company? There are a lot of things that you want to consider. Below are seven tips that you can use to help you find the right insurance company for your home.

1. LOOK AT WHAT’S AVAILABLE

Before you choose an insurer, get a quote from a minimum of four carriers. You can find databases online that are free like InsWeb, which will offer you a quote from as many as eight carriers.

2. BUY DIRECT

The companies that are dealing directly with the consumers and don’t use any independent agents are known as direct writers. Theoretically they’re able to pass their savings on because they eliminate middlemen.

3. READ JUNK MAIL

It’s a great idea to read the Internet, your email or answer your phone. Overhead is saved by direct marketers by using these things to market, and they can give you the savings.

4. CHECK YOUR HOME STATE

Most of the insurance departments in the state offer shopping guides online for those looking to buy homeowner’s insurance. The guide from the state may be able to give you companies that aren’t as well know that have competitive rates. You can get linked to the guide for your state on insure.com.

The bad thing is if you’re living in one of the hurricane zones, it’s possible you will be stuck with a single expensive option. That is your state-sponsored pool of high risk people. But it’s possible to try again in a year. The private insurers always look for different ways to cut the market up and a black mark for company will be a business opportunity for another.

Some of the states provide those who in a vulnerable coastal or urban area.

5. LOOK AT THE SERVICE HISTORY

Even though a company may offer a big discount, that is not going to help you if they are slow at processing claims, so you want to discover everything you can about the service about a company before signing on. It’s a good idea to ask the representative about the turn-around time for their claim. If they have a shorter time for claims it indicates that they have good service.

6. FOCUS ON THE FINANCIALS

You want to examine the insurer’s financial ratings. Ask the rep about the information or you can use one of the services online to find out their financial ratings.

Standard & Poor’s great rating is A or higher, and Moody’s Investor Service’s AA rating will say that the company is strong. You can also check out Weiss Ratings, which has very stringent guidelines and it’s also the one that’s most independent, to see the homeowner’s insurance companies that are the weakest.

7. SEARCH FOR DISCOUNTS

It’s possible to save money by looking for discounts offered by insurers for risk lowering behavior. This could be things from quitting smoking to driving below a certain number of miles each year. Certain categories of people, such as senior citizens, are also eligible for lower prices. You’re also going to save money by installing some protective or safety equipment inside your home. Since it’s much cheaper to service more than one policy from a customer, premiums are often cut by insurers by as much as 15% when you link your homeowner’s and auto policies.

These are the seven things that you can do to help you find the right company for your homeowner’s insurance. When you want to protect your home and everything in it, you want to choose a company that you can count on. These tips will help you find the right one.

FREE INSURANCE REVIEW

WhitCo Insurance agents provide this free service  just for you. Meet with our agents in person or connect online to review your coverage to keep up with your changing insurance  needs. If you would like us to explain your insurance policies in plain English, you can contact us  a call at 866-298-7608.

We hope you will benefit from our web site  and can take advantage of our insurance experience in Punta Gorda and North Port, Florida.

Boats are a lot of fun. You can fish from them, swim from them and a lot of other things. They are basically like cars on the water. So you want to make sure that your boat is covered. The coverage will make sure that your boat, the people in your boat and other people on the water are protected if something should happen. Below are 8 things you should know about boat insurance. 1. A BOAT WON’T BE COVERED BY YOUR HOMEOWNER’S POLICY This is true for all boats except for two – canoes and small boats without motors. However, if your boat is large that has a substantial engine or motor, you will need separate coverage. The insurance is going to be similar to the policy you have for your car. But if you own a yacht, it will be a lot like a small home’s insurance. 2. INSURANCE WILL GIVE YOU PROTECTION FROM A LOT OF DISASTER TYPES There are a lot of various disasters which often happen when you are on any boat. When you’re having a lot of fun, all of the sudden something could happen which makes the day not so fun. Having insurance on your boat is going to help with covering for you for things such as: Capsizing Collisions Fire or explosion Explosion or fire Storms Sinking Theft Stranding 3. THE POLICY WILL PROTECT EVERYBODY AND EVERYTHING When your boat is insured, you, the boat, the equipment in the boat, and the other boaters are going to be insured. Some coverages that are available are liability, medical payment, theft and property damage coverage and bodily injury. 4. YOU NEED PHYSICAL DAMAGE COVERAGE Boats are expensive items and the equipment that is on it is also expensive. Being covered for any physical damage is going to cover the trailer, boat, equipment, motor and the other kind of items that are boat related. 5. YOU GET TWO MAIN LIABILITY TYPES WITH BOAT INSURANCE The first type of liability is personal liability. This is going to cover those things you are obligated for paying legally to someone who is injured when there is a problem while you’re boating. These will be things such as the expenses because of legal defense, property damage and bodily injury. Medical payment coverage is going to pay the medical expenses occurring due to accidents happening with the boat. Hospital and medical bills as well as ambulance charges also are going to be included. 6. YOU CAN GET OTHER KINDS OF COVERAGE Property and liability coverage just are the basic types of insurance you’re going to need for your boat. However, there are also other types of options you’re able to choose for other coverage if you’re interested in further protecting yourself. You’ll find a few of your other options that you can use. Emergency Services – If you have this kind of coverage, it’s going cover expenses you’re going to have if and when you need these types of services Reasonable repairs – It will often be expensive to have your boat repaired when it’s damaged. But when you have this coverage type, your boat’s maintenance that it’s going to need for making sure it’s protected from future damage is going to be covered for you. Umbrella – When you have this coverage type you’ll have additional protection against possible disasters. It’s going to basically care for any leftover expenses when you don’t have enough coverage for paying for those expenses. Wreck removal – Any boater knows that sometimes a boat won’t float how it should. If something happens causing the sinking of your boat, this type of coverage will pay a reasonable price for raising, removing or destroying the boat. Keep in mind that it’s only true if the shipwreck was because of an insured loss and the law requires you to have the boat removed. 7. YOU CAN SAVE ON YOUR BOAT INSURANCE If you’re concerned about boat insurance cost, it’s good to know that there is a few ways that you will be able to lower your costs on the rates you’re paying. Insurance companies like to reward people when they take certain precautions. Below are some of the ways you’ll be able to show a company you’re cautious when you’re on your boat. Be certain that you have fire extinguishers upon your boat which have been approved. Take one of the Coast Guard’s or Red Cross’s approved safety courses through your state. Make sure there are fire extinguishers on your boat that are approved. Using diesel can help with lowering your premium and risk 8. IT MAY BE POSSIBLE TO PAUSE YOUR POLICY WHEN WINTER COMES Unless you’re living in an area where you have warm weather throughout the year, there is a good chance that you won’t take your boat out when the winter is coming. Some policies allow you to just buy coverage for the months you’re going to use your boat. If you’re selecting a policy which will allow you to do this and you’re saying what months you’re going to take your boat out, be certain you’re only going out during those times. If you take your boat out and it’s not during that time, you won’t have any type of coverage. If there is something that happens, you won’t be covered. If you’re a boat owner, there is a lot of fun things that you can do with your boat. But it’s important for you to be certain that those people who are in your boat, the boat itself, and those other people that are boating all are safe anytime you’re on your boat. Before getting into the boat, be sure that you have the coverage that you need for protection just in case something should happen. You never know what could happen. You want to be sure you’re protected and covered. When you’re covered, and you have fewer things to worry about, you’ll find it’s a lot more enjoyable. FREE INSURANCE REVIEW WhitCo Insurance agents provide this free service just for you. Meet with our agents in person or connect online to review your coverage to keep up with your changing insurance needs. If you would like us to explain your insurance policies in plain English, you can contact us a call at 866-298-7608. We hope you will benefit from our web site and can take advantage of our insurance experience in Punta Gorda and North Port, Florida.

When you are looking for insurance, whether it’s for your home, business, auto or other, there are a lot of options. You might think searching online for your own quotes is a good idea. But have you thought about hiring an independent insurance agent? Below are seven advantages of using independent insurance agents. 1. THEY WILL GIVE YOU CHOICES Independent agents don’t just represent one insurance company – they represent a lot of companies that provide a lot of price points and coverage options. The majority of agents sell for anywhere from 5 to 8 different companies. It’s not necessary to accept one of the quotes from a company and you don’t have to fill out a lot of different applications online for comparisons of quotes. With the agents having lots of knowledge and connections, agents are able to find better values for your money when compared with the prices that you will find yourself. The agents are going to do the shopping and you will save the money. They will help you the best blend of coverage, service and price. 2. THEY ARE LICENSED EXPERTS An independent agent is able to explain insurance in terms that are simple to understand and help you with making smart and informed decisions. The agent’s made a career of assessing the needs of their customers and matching them up with prices that are affordable. Just think for a minute. Even though you’re able to research the wording for a will online, chances are that you are going to have a lawyer do it so that you’re sure that it’s done right. That’s why it’s a good idea to have someone who is an expert to make sure that your business, home or auto is protected properly. 3. THEY ARE PERSONAL ADVISORS An agent doesn’t just find competitive pricing for you, they also ensure that you’re covered adequately. They work with you one on one and they take time and listen to what you say so that they can find insurance that will fit your needs. An agent understands that it isn’t just their job to find an affordable price but they also know that you want the coverage that is necessary to protect you. 4. THEY ARE AN ADVOCATE FOR YOU If you have a concern about your bill or a claim, or you want to change the coverage that you have, the agent can act as an advocate for you and work with that insurance company for you. 5. THEY’RE CLOSE When you choose an independent agent, they are going to likely be a lot closer. They are going to share the interest that you have in your community. They also understand the challenges and benefits of where you live. They are many times really involved within the community, sponsoring kids’ sports teams, purchasing from the local businesses and other things. 6. THEY CAN OFFER SHOPPING FOR ALL INSURANCE NEEDS An independent agent often can meet all of the needs you have for insurance through the companies that they are representing. This means that they can likely offer home, business, renter’s, and auto insurance. A lot of them also offer health and life insurance too. 7. THEY ARE CONSULTANTS FOR LIFE An independent agent reviews your coverage periodically. They’re there for helping you through the changes that you are going through in life, whether you are moving from an apartment and buying a house, you’re getting married, starting your own business, or other things, they can help you with what you need. If you are in need of a good insurance quote, think about using an independent insurance agent. They give you a lot of advantages that you aren’t going to find elsewhere and can often save you a lot of money. FREE INSURANCE REVIEW WhitCo Insurance agents provide this free service just for you. Meet with our agents in person or connect online to review your coverage to keep up with your changing insurance needs. If you would like us to explain your insurance policies in plain English, you can contact us a call at 866-298-7608. We hope you will benefit from our web site and can take advantage of our insurance experience in Punta Gorda and North Port, Florida.

When you live in Florida, one thing that you know is that you have a good chance of being in a bad storm. You might have questions about your insurance as you’re surveying your property damage. It’s a good idea to locate all of the insurance policies that apply, document all of the damaged belongings and property with video footage or pictures so that you’re able to report your claim quickly. Below are some of the guidelines of insurance that can give you some help when you are documenting your damage and that can help you when you’re contacting your insurance company. HURRICANE DEDUCTIBLE After you’ve found the insurance policy and you’re done documenting your damaged belongings and property with video footage and/or pictures, it’s a good idea to get in contact with the insurance agent or company quickly so that you can report that damage. Even if you don’t think that the damage is a lot, and it’s probably less than your deductible, calling the company so that you can discuss your damage is a good idea. DEBRIS AND TREE REMOVAL Most of the policies will cover tree and debris removal if the tree that is down damaged property, no matter who the tree belongs to. But there are some limits that the company is going to pay for tree and debris removal. This is often $500. Usually there isn’t any coverage to have debris or tree removal if the tree has fallen and there is no covered property damaged. Some of the policies will cover removal of trees and debris if the tree that is down is blocking the property’s main entrance. Because the policies are going to vary from insurer to insurer, it’s important to look at your policy to figure out if you’re covered. SERVICE POLES THAT ARE DOWNED Some of the insurance policies considered a fallen service pole that is on your personal property to be covered under your homeowner’s policy. But it’s essential to review your policy’s language, contact the company or get in touch with your agent to clarify whether it’s covered. FOOD SPOILAGE A lot of policies aren’t going to cover food that has spoiled. But if it is coved, a lot of times it will only be covered if your power is out because of damage happening on the property. This means, if a tree fell and caused a power outage, the tree must have fallen on your home’s property to be covered. FLOODING Flood insurance is offered by a federal program known as NFIP. This can be purchased through insurance agents that sell casualty and private property insurance. These kinds of policies have certain provisions when it comes to coverage. It’s important to contact your agent so that they can answer your questions regarding your coverage for property damage due to flooding. REPAIRS Your contract for your insurance will require that you’re making temporary repairs so that further property damage is prevented. Before you make any type of permanent repairs, get in contact with your insurance company or agent to talk about your repair process as well as take pictures of your damage so that your claim can be documented. If you have damage to your property or home from tree or water damage, and someone has contacted you and said they can remove any downed limbs or repair your damage, check them out before hiring them. You want to make sure they’re insured and licensed. You can check them online to make sure they have the proper license and credentials. You also want to make sure that you’re getting estimates and references. It’s also important that you aren’t paying them in full before the work is done and that you’re fully reading your contracts. This can help you save a lot of heartbreak and trouble. FREE INSURANCE REVIEW WhitCo Insurance agents provide this free service just for you. Meet with our agents in person or connect online to review your coverage to keep up with your changing insurance needs. If you would like us to explain your insurance policies in plain English, you can contact us a call at 866-298-7608. We hope you will benefit from our web site and can take advantage of our insurance experience in Punta Gorda and North Port, Florida.

The laws in Florida are unique when they’re compared to the majority of other states. In the majority of states, the laws when it comes to motorcycle insurance are comparable to the other types of laws for motor vehicles. But in Florida this isn’t the case. In Florida, if your vehicle has at least four wheels you have to carry PIP because it’s under the blanket of no fault insurance. This is going to guarantee that medical bills as much as $2,500 are paid if you file your claim in 14 days. If the bills are because of an emergency, and it’s been medical professional certified, the complete $10,000 threshold is paid by the PIP. The PIP isn’t available to motorcycle owners even if they have PIP for one of their other vehicles. Because injuries from a crash on a motorcycle are much more severe, a motorcycle rider are going to have a bigger chance of having financial disaster after a very serious crash. The insurance requirements of a motorcycle in Florida are based on the owner’s financial responsibility against liability. It’s not required that the owner carries insurance when they register their motorcycle. But the driver is going to be held responsible if they’re charged in a crash. There are three options from which to choose. Buy liability insurance from a licensed insurance carrier in Florida. This is the way that’s most common. Secure a certificate of financial responsibility – This will the owner to post a surety bond and then depositing securities or cash with the DHSMV. The surety bond is posted with a company licensed by the state. Go to the Bureau of Financial Responsibility and get your Self-Insurance Certificate after you give evidence of capital that’s net encumbered. When are you required to have insurance for bodily liability in Florida? In Florida, the coverage requirements for minimum liability for other pa types of passenger vehicles will serve as guidelines for determining coverage amount that’s needed. $10,000 – Bodily injury for one person $20,000 – Bodily injury for two and more people $10,000 – For each crash in liability for property damage What’s No-Fault Coverage? Since Florida’s a no-fault state, it means that PIP coverage is required when you have a vehicle with at least four wheels. This ensures that all of the medical bills get paid no matter whose fault the accident is. But this doesn’t apply when it comes to motorcycles. Because of this, motorcyclists have to pursue compensation when they are in an accident from the insurance of the other driver for lost income, pain, suffering, motorcycle damage and medical bills. They don’t have to meet any threshold or prove how severe their injuries are. It’s potentially beneficial that a motorcyclist has UMC in case they are in an accident with someone who doesn’t have liability coverage. Nearly 25% of the drivers in Florida don’t carry liability, so there’s a good chance that there will be a collision with someone who doesn’t have it. What Penalties are there in Florida if You Don’t Have Motorcycle Insurance? Even though it’s not required that you have insurance when you’re registering a bike, there are some penalties if you’re in a crash and don’t have any insurance. If you get charged with the accident, you’re financially responsible when it comes to the property damage and bodily injury. If you didn’t have liability coverage when you had the accident, some of the things you could face are the following: Suspension of driving privileges Suspension of tag and registration Required to buy liability coverage for property damage and bodily injury for 36 months Civil judgements may be brought against you The truth is that it’s not mandatory to have coverage on your motorcycle until you’ve caused a collision. FREE INSURANCE REVIEW WhitCo Insurance agents provide this free service just for you. Meet with our agents in person or connect online to review your coverage to keep up with your changing insurance needs. If you would like us to explain your insurance policies in plain English, you can contact us a call at 866-298-7608. We hope you will benefit from our web site and can take advantage of our insurance experience in Punta Gorda and North Port, Florida.

It can be hard to understand insurance policies, so a lot of people will turn to friends and family members for advice on getting insurance for their boat before they talk with an agent. Even though people mean well; a lot of people won’t give you the right information. This can lead to a lot of confusion and misinformation. Below are some of the common myths that people believe about boat insurance. 1. YOUR BOAT IS COVERED BY HOMEOWNER’S INSURANCE Even if you’re keeping your boat at your house, chances are that your boat isn’t covered by your policy even if it’s inexpensive or small. It may be possible that you can have a rider for covering your boat on your property, but when it’s not there, the boat is no longer covered. 2. BOAT INSURANCE ISN’T NEEDED There may not be laws in your community requiring boat insurance, but your local storage facility or marina might require you to have insurance so that their liability is reduced. If you’re financing your boat or it’s being used as loan collateral, insurance may be required by the bank. Even if it’s not required, keep in mind that it will only take a split second for a vehicle to hit the boat while you’re taking it somewhere or for someone to get injured while they’re on the boat. 3. YOU’LL BE COVERED ANYWHERE YOU GO BOATING The majority of policies are only going to cover an area where you’re typically boating, along with the general area around it. If you’re going with your boat on vacation, there’s a good chance that your boat is not going to be covered. It’s a better idea to simply rent another boat while you’re on vacation rather than having the hassle of taking yours with you. 4. INSURANCE RATES INCREASE BECAUSE OF HURRICANES The premiums for your boat insurance will be based on where you live. A hurricane will only affect the insurance if you’re living in a state on the coast, where the hurricanes will cause a lot of damage to a boat. 5. INSURANCE FOR BOATS IS EXPENSIVE There are costs associated with all types of hobbies and this is the same with boating. It’s important for you to understand the financial responsibilities that comes with boat ownership, but you can do things that will reduce your premiums for boat insurance. You want to maintain a good score on your credit, take safety courses and boating, and have a stellar driving record all to help you save money with your boat insurance. 6. MY DRIVING RECORD WON’T AFFECT THE INSURANCE PREMIUM You may think that your premium for your boat insurance isn’t going to be affected by a poor driving record like your car insurance, but it will be affected. The insurance companies will use it when they are underwriting. They’ll check how well you drive through your record and if you’ve gotten a lot of tickets, major violations such as drug or alcohol-related violations, a suspended driver’s license, reckless driving, or had accidents. If this is the case, then chances are that you won’t be able to get insurance. When you have a boat, you want to make sure that you know the facts and ignore the myths. This will help you make sure that you have enough insurance on your boat and that you are protecting you, your boat, and your passengers. Talk with someone who insures boats and they’ll give you the advice so that you can choose the insurance that is best for you. Then you can enjoy your boat with confidence and responsibly without having to worry about accidents or injuries on your boat. FREE INSURANCE REVIEW WhitCo Insurance agents provide this free service just for you. Meet with our agents in person or connect online to review your coverage to keep up with your changing insurance needs. If you would like us to explain your insurance policies in plain English, you can contact us a call at 866-298-7608. We hope you will benefit from our web site and can take advantage of our insurance experience in Punta Gorda and North Port, Florida.