SWFL Insurance

Businesses that have property insurance will likely have coverage for the possessions inside. So, if something damages the contents of the business, then you can likely file a claim for the damage costs. However, you must do so correctly to successfully receive compensation. Some policies will include limitations on how much damage they will cover. Understanding Contents Insurance Contents coverage is business insurance that will help you replace or repair possessions if they get damaged or destroyed by unexpected events. It might pay when hazards like fires, theft, vandalism or severe weather damage belongings. Some of the items it might compensate you for include: Computer equipment Machinery and materials Furnishings Business stock and inventory Equipment Restrictions on Your Contents Coverage When getting your contents policy, you will choose a maximum limit to your coverage. You’ll want to base this limit on the cumulative value of all your belongings in case a total loss occurs. For example, if a fire destroys your business, and you have $100,000 worth of possessions, you’ll need up to $100,000 to replace the items. That will require a $100,000 policy limit. Yet, besides the policy limit, there are other restrictions that might affect how and when you can make a claim. Keep these potential limits in mind: Most contents coverage includes deductibles. You agree to pay this amount towards the cost of repairing or replacing the items. If you have a $1,000 deductible and claim furniture damage worth $5,000, then your policy will only pay you up to $4,000. Policies might exclude or limit coverage on certain items. For example, outdoor furnishings or signage might have limited coverage. To insure these items, you might need to add a specialty endorsement to the policy. The policy might include sub-limits that it imposes on certain items. For example, the policy might only pay up to $500 for damaged computers. To get more coverage, see about scheduling the item on your policy through an endorsement. The policy will not cover contents damaged in certain hazards. For example, weather-related flooding typically does not have coverage. To get such protection, you might need to buy flood insurance. This coverage will still include its own limits and deductibles. If you ever need to file a claim on your contents insurance, then immediately call the insurer. They can tell you what they require to process the claim. You might need to take pictures, receive damage estimates and preserve the scene until the insurer can review the damage. All these steps can aid the insurer in providing you ample compensation.

Health insurance is critical so you and your family can get the care you need. Signing onto a policy shouldn’t be done lightly. Not all health insurance policies are created equal, and there are a few questions you should ask before signing your name on the dotted line. 1. Can You Stay at the Same Doctor? Say you have been going to the same doctor for years and you explicitly trust them with your health. You have no interest in going to a different doctor if you can help it. Unfortunately, not all health insurance is accepted everywhere. Be sure to look at your preferred doctor’s list of accepted health insurance providers before deciding on a policy. 2. What are the Benefits? Most health insurance policies cover basic benefits such as emergency services, hospital stays, office visits, etc. Many often exclude coverage for other benefits, however, such as dental, vision and prescription drugs. If you regularly take prescription drugs or need vision coverage, you will want a health care plan that covers these costs. Dental insurance may have to be purchased separately depending on the health insurance provider. 3. How Much Will It Cost? You don’t need to know only how much your premiums will be, but how much your deductible is, how much you will be paying out of pocket, what your co-payments will be, etc. Compare quotes in your area to find the best deal, and keep in mind what influences these rates. Rates may change depending on the type of plan you have, your age, tobacco use and location. Family plans generally cost more than individual plans. 4. What are the Rules and Limits of this Policy? What About Emergency Services? Some policies have requirements when it comes to using health insurance benefits. For example, you may have a limited window (such as 24 hours) after visiting a hospital to contact your primary care doctor in order for your health insurance to cover the expenses. Deductible and co-pays are different in emergency rooms than in normal doctor’s offices, as well. They are normally more expensive, and your health insurance policy may not cover every fee and procedure. Your health insurance plan may also require you to go to specific hospitals. No matter if you are getting your first health insurance plan or switching to your tenth, be sure to ask about your plan to make sure you have the right coverage.

Home insurance premiums seem elusive until you discover what, exactly, makes them raise or lower year by year. There are many factors which an insurer may use to calculate your home insurance premiums. One of these is your location and, specifically, how close you are to a fire station. Why? Home insurance prices, and insurance prices in general, are calculated based on the amount of risk the insurance provider is at for paying out a claim. If you are more likely to file a claim that the insurer will have to pay, you may be charged more for insurance to compensate. This means that having certain safety measures within the home, such as fire alarms and a burglary alarm system, can change your home insurance premiums, as these measures lower the risk of you or your family filing a claim. How? Living near a fire station can lower your home insurance rates drastically. A nearby fire station means that any home fires are likely to be put out quickly, and the damage they cause minimal. On the other hand, homes that live far away from fire stations or even fire hydrants can have trouble finding cheap home insurance. The further away you are from a fire station, the longer you would have to wait for emergency services. And the longer a fire burns, the more damage it can cost—which means the insurer will have to pay more in compensation for a claim. Where? Urban areas and suburbs are more populated with fire hydrants and fire stations than rural areas. If you live in a rural town that is miles from the nearest fire station, you could have trouble purchasing cheap home insurance. How Much Can a Fire Station Affect Your Home Insurance? A nearby fire station saves an average of about 4% for homeowners on home insurance. While this isn’t a lot, it can save you a substantial amount in the long run, especially paired with other discounts. Carefully consider your location when searching for a home. You will want to be near a fire station or a fire hydrant, both for better home insurance prices and for a better sense of safety. Also invest in other safety measures that can save you money on home insurance, such as an indoor fire extinguisher, upgraded locks and doors, anti-burglary systems, etc.

Choosing the Correct Term Life Insurance Policy Length When you buy life insurance, you probably have an idea in mind about where you want your policy to go. You might want to use it as a vessel to provide money to loved ones for specific purposes. As a result, you might only want your coverage to last for a certain number of years. If that is the case, then a term life insurance policy might be your best bet. The challenge, however, is how to choose the right term that works for you. Here’s how to do so. What is Term Life Insurance? Many people buy life insurance with a specific idea in mind. For example, parents with young children might want the plan to pay for the child’s college tuition if the parent pre-deceases the child. As a result, they might only want their policy to last for a certain number of years. Term life insurance is the way to get this coverage. Term policies offer full death benefits to beneficiaries. However, they include a start date and an expiration date. If the insured person dies while the policy is active, then the beneficiary can file a claim for the death benefit. But, once the expiration date passes, the policy simply goes away. The question you might ask yourself, however, is for how long you want a term policy to last. The answer usually has a lot to do with your objectives for the policy. Choosing the Correct Policy Term Most term life policies come with standardized term options. For example, these might be 5, 10, 20 or 25-year terms. The one you choose will determine the term length. You can often change the policy term later or convert the term policy into a permanent policy. Depending on how you want to use the policy, you might need a shorter or longer term. For example, most people enroll in life insurance upon having a child. They might feel like they need this policy only for as long as the child is a minor. As a result, they might choose a 20-year term. If the policy begins while the child is still a baby, then it will remain in effect until they are at least 20 years old. As a result, if you die in this time, the child’s inheritance, lifestyle and care needs can have coverage. The policy can then terminate once the child is on their own. When buying your term life policy, tell your agent where you want the money to go. They can then help you arrange the policy’s term to make sure it goes directly to that purpose.

When you purchase a new car, you are generally issued a requirement by the lender to carry a certain amount of car insurance. This requirement is issued to protect the lender’s investment in case an accident damages the car. You must carry this insurance for as long as you are financing the vehicle. If you cancel your coverage, you will be notified of a breach of contract, after which the lender may add the cost of full coverage car insurance to your loan. This forceful adding of insurance by a lender is called force-placed coverage. How Much Insurance Do Lenders Require? Usually this is full coverage, which is higher than the state required minimums. Full coverage car insurance required by lenders typically includes: Comprehensive Coverage: Comprehensive coverage provides compensation for damages to the vehicle caused by fire, wind, hail, lightning, smoke, theft, vandalism and other incident not involving collision. Collision Coverage: Collision coverage provides compensation for damages to the vehicle due to collision with another vehicle or object. Liability: Liability insurance covers expenses related to bodily injury and property damage the driver may cause while operating the vehicle. Medical Payments Coverage: Medical payments coverage provides compensation for medical bills the driver and their passengers may face after an accident, no matter who is at fault. Uninsured/Underinsured Motorist: This coverage provides compensation for accidents involving a driver not carrying insurance at the time of the accident. When Can You Drop to Basic Liability Insurance? Once your car is paid off, you may not longer be required to carry full coverage by your dealership. You should take careful consideration before dropping your insurance. With just minimum liability, you will not have coverage for damages to your car or injuries to you and your passengers. This means that after an accident, you could be looking to pay expensive repairs and medical bills out of pocket. It is generally recommended that drivers don’t consider dropping their full coverage insurance until the value of the car is less than it would cost to insure the vehicle. Older vehicles depreciate in value, so some insurers will not insure a vehicle that is worth less than the cost of insurance. If it would cost less to repair or replace your vehicle out of pocket than it would to insure it, you may want to have only minimum liability insurance.

Getting the right business insurance for your company property might seem challenging, and one of the most critical items you want to protect is your computer systems. Still, you might not know whether your business insurance will cover these expensive and sensitive machines. The good news is it can, but you must make sure you have the proper coverage. Whether you offer employees laptops only, or have a multi-machine network, we can help you get the right policy. What Business Insurance Covers Nearly all business insurance includes property coverage. It will help you repair or replace items like furniture, tools, supplies and other critical business items in case of unexpected damage. Usually, it can also cover computer equipment, but only for covered losses. It will not cover computers damaged by hazards the policy does not cover, however. Whether your basic property insurance is enough coverage for all computers might depend on the size of your assets. For example, if you only have a few computers in the business, then the limits of your standard property insurance will likely be enough. However, property insurance will likely cap how much aid it will provide for computers. As a result, you might need to buy a policy endorsement that will increase your coverage limits for computer systems. This will ensure that you receive more right coverage. You might also need to buy expanded coverage if you allow your employees to take computer equipment home with them. What Business Property Insurance Does Not Cover Coverage for property damage usually only covers physical property. So, while damaged computers might have coverage, the data within them might not. You might also have no coverage for the cost of recovering this data or compensating customers who experience ramifications of lost data. Therefore, if you ever face a data loss, breach, hack, ransomware attack or related incident, then you might have to look elsewhere to get covered. You might need a type of coverage called cyber liability insurance. The policy can help the business itself in recovering or replacing lost data. It can then help you cover the costs of compensating third parties, like customers, affected by the data loss. You will have to tailor your computer equipment’s insurance to your own business’s needs. Therefore, your agent will need to know the full picture of your computer use to be able to insure you appropriately. While they can provide you with a solid base of property insurance, they will likely need to add special endorsements to the policy. With that, they can make sure you will always have protection.

Home insurance has a lot of confusing terminology, especially when it comes to the types of policies and how you can receive compensation. Replacement cost value, for example, refers to two areas: the total replacement cost value of your home, and a replacement cost value policy for personal belongings coverage. To break it down, home insurance covers three main areas when it comes to property: Dwelling covers the physical home and its attached structures in case of damage or loss due to fire, wind, hail, lightning, smoke, theft, vandalism and more. Personal Belongings coverage covers personal items from the same causes of loss and damage that are covered under dwelling insurance. Additional Living Expenses cover costs related to temporarily moving if the home is destroyed after a disaster. Actual cash value related to your home insurance policy’s personal belongings coverage. Actual Cash Value vs Replacement Cost Value There are two ways a homeowner may receive compensation for lost or damaged belongings: actual cash value or replacement cost value. An actual cash value home insurance policy provides compensation while accounting for depreciation. So as the value of your items depreciates, or drops, so does the amount of compensation you can receive. For example, say you purchase a television for $1,000. A few years later, a fire breaks out and destroys most of your belongings, including the TV. Since you purchased it, the value of the TV has dropped to $500. Instead of receiving $1,000 in compensation, you will likely receive closer to $500. A replacement cost value policy provides compensation without depreciation. No matter how the value of your belongings depreciate, this policy will provide compensation to help replace it with one of equal value. Most home insurance policies are actual cash value when it comes to personal property. It is also the cheaper alternative. If you would prefer replacement cost value for your items, you may be able to ask your insurance agent about adjusting your policy. Keep in mind that certain items have limited coverage under home insurance policies and replacement cost value may not be available to cover all of your personal items. Objects such as jewelry, furs, art and electronics often have limited coverage under a basic home insurance policy and may need policy floaters to cover the cost of replacing or repairing them after a covered incident.

Car insurance policies can look different depending on premiums, deductibles and coverage limits, but all car insurance policies are designed to cover three certain areas. A full coverage car insurance policy covers: Liability Property Medical Liability Some policies strictly have liability coverage. This insurance is generally required by state law and limits can change depending on where you’re located. Liability insurance covers bodily injury and property damage a driver may cause while operating the insured vehicle. For example, if you run a red light and hit another car, you may need to file a claim on your liability insurance to pay for damages to the victim’s vehicle and any injuries you may have caused the driver and the passengers. This insurance can also help cover legal fees. If another driver sues for damages, liability insurance can help cover your legal expenses such as court fees, defense costs and settlement expenses. Property Property damage coverage for your vehicle usually isn’t required but is crucial if you want to receive compensation for damages to your vehicle. The two property coverages normally available under car insurance policies are: Comprehensive: Comprehensive coverage provides compensation for loss of or damage to the vehicle due to fire, wind, hail, lightning, smoke, theft, vandalism and other incidents not involving collision. Collision: Collision coverage provides compensation for loss of or damage to the vehicle due to collision with another vehicle or object. These coverages are generally included in full coverage car insurance policies. Full coverage policies are simply policies that provide the most coverage available for your vehicle. Medical Medical payments may or may not be required depending on where you live. There are also different types of medical coverage state to state. Medical payments coverage is the more basic coverage. This provides compensation for you and your passenger’s injuries after an accident, no matter who is at fault. Whether your state is a fault or no-fault state, this insurance will pay for the medical bills of those in your vehicle. Personal injury protection offers the same, along with some additional perks. This insurance is only available in a few states and required in even fewer. Along with covering medical bills directly related to the accident, it can also help cover expenses such as lost wages and other health costs that may be excluded from medical payments coverage.

When insuring possessions on homeowners insurance, you have a lot of leeway to choose the limits you want. Yet, the thing about possessions insurance is that your coverage might restrict how much it will pay for items of value, like your electronics. When thinking about the value of these items, take a few extra steps to choose the right policy limits. What Electronics Do You Own? Some electronics you want to make sure you insure. The best way to not forget an important item is to make a list. Go from room to room of your home and make note of: Computer equipment (including printers and scanners) Tablet computers Mobile phones Televisions & DVD players Stereo systems High-end security systems Cameras Smart-Home devices Once you know what you have, you can begin to gather information on the items’ values. You can also decide which items to insure and which to skip Determining Value When determining an electronic item’s value, checking the receipt is a good place to start. If you don’t have the receipt, you might check the current market value of the item or have it appraised. Most electronics have two values. First, there is their sticker price, which is the cost of the item when you bought it. Second, there is the item’s cash value. As you use items, they age or newer models enter the market, the cash value will drop below the new-item value. Getting the Right Coverage There are some restrictions that your homeowners policy might apply to possessions coverage: The policy will only pay up to its limit for all possessions claims. So, if you have $100,000 in possessions coverage, then you will only recover a maximum of $100,000. That’s why it is important for you to accurately estimate the value of all belongings. Most policies will only pay you the cash value of a damaged item at the time of the loss. Therefore, you might not recover the full cost of a new item. When appraising electronics damage, this might make a big difference in settlement costs. Some policies place a sub-limit on items like electronics. Though you might have $100,000 in total coverage, you might only be able to recover $10,000 for electronics. Deductibles will also apply. Always check your policy to see if these limits exist. To get adequate coverage for important electronics, you might be able to request full replacement cost coverage instead of cash value coverage. Additionally, you might also be able to schedule a particular item on your home’s coverage. By scheduling an electronic, you can apply a direct limit specifically to that item. You’ll receive guaranteed compensation for the loss as long as the damage was not excluded by the policy.

Why Does Health Insurance Not Cover Dental? Most health insurance policies don’t cover dental procedures, despite the fact that teeth and gums can have a direct impact on a person’s health. A lot of dental procedures, such as teeth whitening and braces, are seen as not medically necessary. For the most part, preventive care, cosmetic procedures and oral hygiene is seen purely as cosmetic and is not covered under health insurance. If an insurance provider deems a procedure as not necessary for your overall health, it may not be covered. Instead, certain preventive services such as cleanings must be paid out of pocket or covered under a separate dental insurance policy. Are Any Dental Services Covered Under Health Insurance? Every health insurance policy is different. It’s critical to speak with your insurance agent to understand the full scope of your policy, including what is covered and what is not. That being said, there are some dental procedures that may be covered under a health insurance policy. These procedures or treatments are primarily seen as health related and include: Wisdom teeth or 3rd molar extraction Bone grafts Dental implants Biopsies Headache treatment caused by tooth pain/oral issues Oral infections, inflammation or cysts Certain exams directly related to health Panorex x-rays Tongue ties for infants and children Mucositis and stomatitis Chemotherapy or surgery clearance exams Accidents (such as if you crash your bike and end up chipping a tooth or jamming it into the gums) Sleep apnea appliances or dental sleep medicine Tomography and cone beam Even Botox injections may be covered so long as they are deemed medically necessary, like in circumstances where you have bruxism or jaw pain. Can You Buy Dental Coverage Outside of Your Work? More companies are adding dental insurance as part of their employee packages, but not all of them do. Even if you have health insurance through your employer, you may be able to purchase additional or supplemental coverage such as dental insurance. No one person may have the same exact health issues, and you should make sure to speak with your insurance agent about your policy. As a rule, the more your policy covers, the more you may pay in monthly premiums. The extra cost may be worth avoiding expensive dental and healthcare bills, however. Oral health and hygiene are a large part of your overall physical wellbeing. Find the policy you need at an affordable price so you and your family can remain healthy.