We've been talking a lot about topics that have been focused on and around homeowners insurance. This inspired us to dedicate a whole blog to the topic because we wanted to dive in a little deeper into what it is and what you need to know about it!
Hello, Charleston insurance holders and buyers! Welcome back to the Abri Insurance blog! We are a full-service, independent insurance agency representing you, the client, not the insurance company. With every policy under one roof, we customize the perfect insurance package for you while striving to deliver the highest level of customer service. In our last few blogs, we've been talking a lot about homeowners insurance, so we wanted to dedicate a whole blog to the topic and dig a little deeper into this very important coverage. Your home is one of the biggest purchases you will ever make, so it only makes sense to protect it. This insurance protects your home from damages to the home itself as well as protecting the possessions inside. With the springtime weather warming up, and the potentially dangerous storms that have already begun to appear in the Lowcountry, now is the time to make sure your homeowner's insurance is up to date and will cover everything you need when disaster strikes. Spend the time now to review your coverage, and if it's not what you need in times of disaster, come and speak with us! It is better to be fully prepared before disaster strikes than having poor coverage when it does! Let's learn a little more about homeowner's insurance so you know the ins and outs of what it truly is, what it covers, and some very common misconceptions to avoid!
What Is Homeowners Insurance?
Also called home insurance, this policy provides financial protection when your home or your belongings are damaged. Homeowner's insurance also covers damage or harm that comes to other individuals or their belongings. While it isn't required by law to have homeowners insurance, there are many reasons why you should have it, on top of what we have already mentioned. If you are planning to have a mortgage on your home, lenders will require you to have homeowners insurance up until the entire loan is paid back. Lending companies can demand that homeowners carry insurance to cover the exact amount of the mortgage they owe.
What Does My Homeowners Insurance Cover?
When heading into a particularly storm-heavy season in the Lowcountry, anything could happen at any time. That's why it is so important to know and understand what exactly your homeowner's insurance covers. A homeowner's insurance policy is split up into four different categories of what it will cover; your dwelling, your personal property, structures on your property, and the liability for damage or injury done to others or their belongings. When it comes to the coverage on your dwelling, it will cover to pay to repair the damage done by lightning, hail, hurricanes, wind, fire, and other natural disasters. Many standard policies will also cover damage done to detached buildings on your property like a gazebo, shed, and garages. Coverage of your personal belongings includes damage done to your sports equipment, furniture, clothing, and other personal items by fire, hurricanes, other natural disasters, and if they are stolen. It also covers items that are stored away from your home. Your landscaping and precious items like collectibles and jewelry are protected, but only to an extent. Your collectibles and special items are usually protected up to a certain dollar limit, and your landscaping items like trees and plants are covered for up to $500 per item. Liability covers lawsuits from harm or damage caused by you or your family to others, and also covers damage caused by your pets.
What Doesn't My Homeowners Insurance Cover?
While your homeowner's insurance covers quite a bit, you mustn't assume that it covers everything. Some items that homeowner's insurance doesn't cover are obvious, while some are still a little tricky. While you can add on extras to create a policy that covers you for exactly what you need, you might need to invest a little bit more into your coverage than what you think you do. A word to the wise, we would recommend going a little above your policy, at least have a policy that will cover you if you need to completely rebuild your home. What else should you know?
Myths About Homeowners Insurance
While it's great that there is a lot of information out there about homeowners insurance, there is also quite a bit of misinformation out there. We wanted to clear up these misconceptions so you know when you come across some bad information. If you question or thought your policy covered these misconceptions listed below, it's time to evaluate your policy and come speak with us at Abri!
You spend so much time in your home creating amazing memories, staying safe, and relaxing. A home is one of the largest and most important purchases you'll ever make, and one that many work for years to own. Keep your home properly covered so you and your family and the life you've built together can be protected and restored even after the worst. We encourage you to review your policy now, it is the perfect time to do so! You have three months until hurricane season begins, and while that might seem like a long way off, it will be here before you know it! If you would like to sit down and talk about your policy or if you would like to add more coverage, we are always here for you! We're Abri Insurance and we are here to make sure you have the best coverage for life in the Lowcountry!
While the idea of natural disasters isn't one we want anyone to spend much time thinking about, the reality is that it is still a possibility that we all have to face. Like everything, it's always best to be prepared, which is why we are going to be talking about disaster and catastrophe insurance today!
As we have officially hit the one-year marker of living with Covid-19, the realities of dealing with natural disasters have become all too clear. It's very obvious now that we never really know what might happen and it is best to be prepared for anything and everything. Living in the Lowcountry, we aren't strangers to the fact that hurricanes, tropical storms, and their dangerous aftermath can bring disaster right to our front doors. With that in mind and after this past year, considering natural disaster and catastrophe insurance might be needed in your life sooner than you might think. It might not be on your radar now, but it might need to be. While we don't want you to sit and think about the possibilities of a natural disaster constantly, having natural disaster insurance allows you to ease that burden. It's our job to think about it, help guide you through it, and be here for you if a disaster ever does strike. We hope it never does, but just in case, we wanted to share some of the ins and outs of it all!
Why should you be considering this kind of coverage now? When disaster strikes, you're left in a dire situation worrying about how to keep a roof over your head and your family safe and fed. Having to call around to make inquiries during this time can be difficult and next to impossible if you're one of many trying to contact the same insurance company during the aftermath of a disaster. Having this extra coverage in place will give you peace of mind at all times, and comfort if disaster does appear. You will know who to call and what will be taken care of right away, and be able to get back to your normal life in no time. Think ahead and give yourself and your family the gift of being completely covered no matter what's to come. We are here for all your questions, policy needs, and more. Never hesitate to reach out and call! We're Abri Insurance and we are here to make sure you have the best coverage for life in the Lowcountry!
When you're a business owner, you've reached a level of making your dreams happen, doing a job you love, and creating or providing something you're very proud of. Wouldn't you want to protect all of this after working so hard to get to where you are? Today, we are going to be talking about commercial property insurance!
Hello Charleston, North Charleston, Summerville, and all of our readers in South Carolina and beyond! Welcome back to the Abri Insurance Blog! We hope you're doing well, and are properly covered for every aspect of your personal and professional life. No matter where you are in life and no matter how careful you are, accidents are bound to happen. Mother nature decides when a natural disaster is going to happen, and human error is a way of life. Being from South Carolina, we know the realities of the weather, once hurricane season is here, a hurricane of any magnitude or a tropical storm could happen when you least expect it. We've briefly touched on homeowners insurance in our blog, and we've talked a good deal about hurricane insurance. You spend time and money investing in your home's safety during these times, why wouldn't you do the same for your business, no matter its size? This also includes when you work from home, a proper business insurance policy will cover your business both on and off your personal property. Think about what your company produces or offers. Think about how devastating it would be to lose anything in your office to hurt or stop your business, even for a short amount of time. Think about how damaging it would be if your work from home situation was brought to a halt due to an accident, flood, fire, vandalism, and much more. Not only would your home be damaged, you could potentially be harmed, and your income could also be put in jeopardy. That's where commercial property insurance comes into play. You've worked so hard to have your own business, why wouldn't you want something working just as hard for you?
What Is Commercial Property Insurance?
The basic definition of commercial property insurance is that it covers every physical aspect of your company. It's something that every company needs no matter its size and no matter if you lease, rent, or own the building your company runs out of or if you work from home. It's important to have because so many small businesses and startups simply don't have the cash flow to cover anything if damage or disaster would happen to any of their business assets. According to fundera.com, there are currently 28.8 million small businesses in the United States, employing over 55 million people. When it comes to all businesses in the United States, 99.9% of them are small businesses. With these kinds of numbers, that's a huge part of every community that needs protection from whatever might happen. For many business owners, they know it's not a question of if something will happen, but when. Being prepared for when something will happen is one of the best things you can do for your employees and your company. Generally, many businesses will have a commercial property plan that is bundled with other forms of insurance to make sure it is the most well-rounded plan with the most protection possible.
What Does Commercial Property Insurance Cover?
Before getting in too deep, it's very important to understand that you need to buy the right kind of insurance plan for your company. Buying a cookie-cutter plan that's not specifically tailored to you will be a waste of money and a waste of your time. Make sure that when you sit down with us at Abri Insurance that you share with us exactly what your business is, what you do every day to operate successfully, and what moving parts the company is made up of. This way we can create a plan that covers exactly what you need, so you're only paying for what you need. Also, when disaster strikes, a tailored insurance plan will help you recover from the whole process. It will not leave you with giant gaping holes that you'll have to cover yourself.
As we mentioned before, commercial property insurance is used to cover and protect your company's equipment and property from the risk of accidents and disasters. One of the best things that commercial property insurance helps is to protect your building, what's inside of it, along with fences, doors, outdoor signage, and even exterior fixtures. The plan itself covers all of that and all of your physical assets from vandalism, fire, explosions, burst pipes, water damage, theft, and storms. This is everything your common policy will cover. This means it will help cover the loss and damage of things like your office equipment, computers, inventory, other's property, important documents, and more. However, there are still some things that everyday plans won't cover like earthquakes and floods. This will need to be added on if these elements are common to where you work and live. Also, there are multiple different kinds of commercial insurance, since there are so many different kinds of risks your face when you own a business. Depending on what kind of business you own, you might need a few more additions than your peers or fellow business owners do, and that's okay! Safety first!
Compare a big tech corporation to a big coal corporation. A coal company would not need to protect its documents and information stored on its cloud as a tech company would. On the other hand, a tech company would not need to have the type of intensive coverage for their employees and machinery that is used in a coal mine that a coal company does. However, this is why it is so common to see commercial insurance plans bundling multiple options. What are the different types of commercial insurance that you can find?
Please note that unless you specifically set your plan to do so, your commercial property insurance won't cover your assets when they are off of your property. They will usually not be covered when they are over 100 feet from your office. If you need protection on things like your work equipment, computers, cameras, and anything else you take off your property to work elsewhere, please speak to your insurance agent to make sure you have the coverage you need.
How Much Does Commercial Insurance Cost?
Just like there isn't a one plan fits all situation for every company, there is no one size fits all price either. How much you will be paying will depend on a lot of factors.
There is still so much more to consider when it comes to commercial property insurance, this is just scratching the surface. As you know, there are so many working parts to your business and your industry. This will lead to needing a lot more coverage than you might think. For veteran business owners make sure to stay up to date with your policies and to let them grow alongside your company. For our new business owners, please do your research, and make sure to sit down with us at Abri Insurance to make sure you get the best insurance plan possible for your company! Until next time, please don't hesitate to reach out to us if you have any questions or comments. We are here and excited to talk about your insurance policy! We're Abri Insurance and we are here to make sure you have the best coverage for life in the Lowcountry!
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