Why Your Business Needs Commercial Insurance

When it comes to small business liabilities, commercial insurance covers all of your needs. Because, as Murphy’s Law states, whatever can go wrong, will go wrong; which is why commercial insurance is a must. Good commercial insurance will protect your company from severe financial loss and can be the difference between going under and staying afloat in the case of damages or a lawsuit.

Benefits Commercial insurance is crucial for small businesses. It protects you from commonly experienced losses such as property damage, theft, liability, and employee injury.

Types of Insurance – The three main types of commercial insurance are liability insurance, property insurance and workers’ compensation insurance. Liability insurance protects you from damages that your company inflicts on any third parties. Property insurance covers damages to property within your place of business, such as fire or flood damage. Workers’ compensation insurance protects you in case employees are injured on the job.

Risk – You must consider how much risk you and your employees’ face on a daily basis when deciding the appropriate level of coverage. For example, do you have a fleet of vehicles that travel? Or, do your employees work around heavy equipment daily? In these cases a higher premium would be beneficial to your company. It’s best to work with an insurance company in Lakeland, FL who has extensive experience in commercial coverage to help you decide what level of coverage is best for your business needs.

Benefits of Workers Compensation

As a business owner you’re required by law to carry workers’ compensation insurance coverage. Naturally, you strive to keep your workplace as safe as possible, but accidents sometimes happen nonetheless. When they do, workers’ compensation insurance provides coverage and protection.

Workers’ compensation insurance serves two purposes: First, it assures that injured workers get the proper medical care and monetary compensation for a portion of the income they lose while they are unable to work. Second, workers’ comp insurance can protect you, the employer, from lawsuits by workers injured while on the job. Worst case scenario, for an accident that ends in the death of an employee, workers’ compensation insurance provides death benefits for the worker’s dependents.

Any injury, large or small, that an employee sustains on the workplace premises or anywhere else while they are acting under the scope of employment is covered under an employer’s workers’ comp insurance. For example, if an employee was driving a delivery vehicle and was injured in a car accident, workers’ compensation benefits would cover their claim.

Each state within the United States has its own workers’ compensation laws, the circumstances under which workers’ compensation is available to workers, the amount of benefits that a worker may receive, and the duration of the benefits paid to an injured worker, vary by state.  Fearnow Insurance Inc., team of independent insurance agents are fully abreast of the ins and outs and can help you understand the details. For commercial insurance in Wesley Chapel, FL, contact us today for more details.

Protect Yourself with Flood Insurance

We’ve seen the devastating effects of Hurricane Harvey. Entire towns, homes and belongings completely demolished. With those images fresh in our minds, and Hurricane Irma set to make landfall in Florida in the coming days, these natural disasters are a reminder of the importance of flood insurance.

For some, flood insurance protects them from the rare occurrence of flash flooding and rainwater runoff, but for the millions that live in a beach town or near the ocean and must regularly face hurricanes and their deadly after-effects, flood insurance is a life-line.

No, insurance can’t replace the history inside your home or treasured family photos or heirlooms, but it can give you aid when the only option left is to start over and rebuild. For those in need the National Flood Insurance Program enables property owners to purchase insurance protection, administered by the government, against losses from flooding. This insurance is designed to provide an insurance alternative to disaster assistance to meet the escalating costs of repairing damage to buildings and their contents caused by floods. The majority of the homes insured under this program, not coincidentally, live in Texas and Florida.

However, this is a policy that needs to be in effect in advance, with a typical 30-day wait period. So it’s not a quick option when an emergency is on the way. In additional to Nation Flood Insurance program, homeowners should carry traditional flood insurance.  Flooding caused by rainwater is generally covered by homeowners insurance, while flooding caused by rising waters is not. As we’ve seen with Houston, you don’t have to live in a flood zone to get serious damage.

Are you asking yourself if your home should be protected by flood insurance? Contact our team of experienced individual insurance agents who can help you through the process of obtaining flood insurance in Seffner, Fl and get you the policy that’s right for you.

Protect Your Belongings with Renters Insurance

As a homeowner, your house and the possessions inside are protected under your homeowner’s insurance policy – monetarily speaking anyway. If you own a home you must be insured, which gives you peace of mind should there be a fire, theft, etc. But what happens to your belongings – furniture, clothes, jewelry – when you rent an apartment?

Renters insurance provides similar benefits to homeowners insurance, in that your belongings are covered in the event of fire, theft and vandalism. Because in reality, the landlord’s insurance will only cover what the landlord owns, such as the land and the physical structures. Their policy won’t cover your belongings.

If the major appliances in your rental home – washer/dryer, refrigerator, stove – are yours, you don’t want anything to happen to them. Your renter’s insurance will protect these investments, as well as other items such as furnishings.

Not every landlord requires their tenant to obtain renters insurance, but it’s a wise investment none-the-less. Surely, as a tenant, you were asked to sign a contract stating that all damage to the interior of the residence was your responsibility. Renters insurance covers you against minor accidents to the home.

Additionally, as a renter, there is the option to also include liability coverage for the rental property. This would ensure that if someone were injured in your apartment, should they sue you, your liability coverage portion of your renter’s insurance would foot the bill.

Peace of mind is worth the investment to protect yourself from unforeseen circumstances, like someone falling and hurting themselves, fire damage, or theft. Fearnow Insurance, Inc. can help you find the right renters insurance in Seffner, FL. Contact our independent insurance agents today for more information.

Understanding What Your Insurance Doesn’t Cover

While many homeowner’s insurance policies cover you against the major stuff – like property damage, theft and injury – there are several scenarios in which your policy likely does not cover you. If you don’t live in a flood zone then flood insurance isn’t a big deal for you, but for those that would be affected, it’s important to know that that won’t be covered in your basic plan. Therefore, it’s important to know the most common things your policy won’t cover so you can be prepared to purchase additional coverage where needed.

Flood: Floods and water damage can be one of the more confusing aspects of homeowner’s insurance coverage. Your typical policy wouldn’t cover you if a powerful storm flooded your area and damaged your home, but it most likely would still cover you if your icemaker broke and flooded your home. Water damage from water and sewer line backups may also be excluded. Depending on where you live, you may have the ability to purchase flood insurance. While this type of insurance can be pricey, it can provide valuable financial assistance if your home is ever flooded.

Earthquakes: Fortunately many people don’t need to worry about this, but for those that are most likely affected, it’s invaluable.  In addition to earthquakes, many policies won’t cover other types of earth moments. These can include shock waves, sinkholes and mudslides.

Valuables: Your homeowner’s insurance will cover the valuables within your home, but there is a certain limit – for example, $20,000. If you collect expensive jewelry, rare works of art, or priceless paintings or gems, you’ll need a separate insurance policy to fully protect them.

Whether you’re in the market for a new home insurance policy or you just want to be better prepared in case you need to file a claim, it’s best to be properly informed of your policies coverage. For information on home, auto or independent health insurance in Florida, contact Fearnow Insurance, Inc. today.

What to Look for in Your Homeowners Insurance Policy

Not many people can afford to replace their home and all of their possessions should it be damaged, destroyed or your property stolen. For that very reason, homeowners insurance is vital. While it might feel like money wasted, it is money well-spent in the event of an accident. However, not every insurance policy is created the same. To make sure you have the coverage you need, here are some important things to consider and features that should be included in your policy.

Premium: This is the amount you have to pay for the insurance, often broken down into monthly payments.

Deductible: This tells you how much you have to pay before your insurer will begin to pick up the cost. If you have a $2500 deductible then you’ll be required to cover that amount before insurance kicks in.

Type of Coverage: The two most common types of homeowners insurance are replacement value and market value. Replacement value means your insurer will pay whatever it costs to replace your existing house; the market value means the insurer will pay what the house is worth on the open market.

Discounts: Some policies reward you for doing certain things, such as installing a security system or cutting back shrubs near the house, which may qualify you for a discount.

Exclusions: Your policy probably doesn’t cover earthquakes or flood damage. Find out and see if you need to buy a special policy to protect yourself against these natural disasters.

Knowing the ins and outs of your policy will save you from unexpected surprises when the time comes to utilize your policy. For coverage details and pricing, call upon the top rated home insurance companies in Florida, Fearnow Insurance, Inc. Contact us today to learn more.

Calculating Insurance Premium Rates

You pay your auto insurance rate without question because it’s required of you in order to legally drive your vehicle. But have you ever wondered what structure determines that price? In addition to the coverage options, limits, and deductibles you choose, certain elements outweigh others when it comes time to calculate your rate.

Although insurance providers differ on what exactly they use to determine your rate, these categories generally influence your auto insurance premium the most:

Driving Record: The better your driving record, the lower your rate. If you’ve had accidents or any traffic violations, it’s likely you’ll see your premium rise. Being a new driver can cause a higher rate as well, but it will eventually drop as long as your record stays clean.

Gender, Age and Marital Status:  Women tend to get into fewer and less serious accidents than men, so they generally pay less for auto insurance. It’s typically believed that age brings experience behind the wheel, so drivers receive higher rates until they turn 25. Statistics also show that married drivers are less likely to get in an accident than single drivers. However, a driver can negate these factors with a great driving record.

Location: If you live in an urban area with high levels of traffic where accidents, theft, and vandalism are more likely, this can affect your auto insurance rate.

Other factors that affect your rate to a lesser extent but are still important parts of the equation are the make and model of your car, your credit-based insurance score, how you intend to use your car (frequency, distance, etc.), and poor insurance history.

Our team of auto insurance carriers in Florida will crunch the numbers and find the best deal for you. Contact our independent insurance agents today for more information.


Understanding Your Life Insurance Policy

We all know we need it, but the topic of life insurance isn’t a favorable one. No one wants to discuss their own mortality. It’s a sobering subject. However, it’s important for the loved ones you leave behind that you do have a solid insurance plan in place for when that inevitable time does come.

Your life insurance policy is an important financial asset for your loved ones. Not only will it cover the costs of funeral and burial expenses, but depending on your particular policy, it can also provide funds to your dependents to help sustain them in the future.

Similar to auto and health insurance, life insurance has its own set of rules and regulations. It’s best to discuss the details with your immediate family so that everyone understands the terms and conditions of your policy before the time comes to use it.

Here’s a brief overview of some life insurance terms you need to know:
* The beneficiary is the person who will receive the proceeds from your life insurance policy.
* The death benefit is the sum of money your beneficiaries are entitled to upon your death.
* Term life insurance coverage is often the most affordable option to purchase because it only provides a death benefit during a set number of years, usually 20 or 30.
* Whole life insurance offers fixed premium amounts for the life of the policy and a set minimum death benefit.
* Universal life insurance is a life insurance policy with variable premium amounts based on an individual’s cost to insure.

Paying the high costs of one’s final expenses, which today can average more than $10,000, is a huge burden for families. Be prepared with the appropriate life insurance policy for you and your family. No matter what form of life insurance you are considering, our Florida independent insurance agents are here to find you affordable coverage that meets your needs. Contact us today.

Protect Your Church with the Right Insurance Coverage

Christian church in floridaChurches are important establishments within our communities, so they need to be protected. Fearnow Insurance can match you with the right insurance for your church to ensure that the building, staff, and congregation are covered in the event of an emergency.

What Does Church Insurance Cover?

Church insurance in Florida covers a wide variety of things depending on your needs. The church often runs many activities outside of your normal Sunday mass, so you need to be covered for anything that could happen.

  • Abuse Liability Coverage – This type of coverage is necessary for any institution that works with children. This is, unfortunately, an essential facet of church insurance, but you can prevent incidents by ensuring that children are never alone with an adult staff member, and provide abuse prevention training to all staff.
  • Property Coverage – Unfortunately, churches are often victims of vandalism and theft. Because they are non-profit organizations, the donations you receive from the congregation are barely enough to cover essential church maintenance, so you’ll want to be covered if property is stolen or vandalized.
  • Group Health Insurance – Group health enables you to provide healthcare benefits to staff at the church.

Many More Coverage Options

As a Christian-owned independent insurance company, we believe that our ministry is to help the ministry. We offer a wide range of coverage options to churches in the area, beyond the coverage types we discussed in the blog. Contact our independent insurance agents today to talk about your church coverage options.

Why Flood Insurance is so Important in Florida

a beach in Florida during a hurricane Homeowners Insurance is Important . . . It provides you with peace of mind in the event of a natural disaster or other occurrences that can cause damage to your home. Home repairs can be a massive financial setback if you haven’t purchased homeowners insurance. There are many types of homeowners insurance, so it can be difficult to determine what you need. In Florida, it’s important to ensure that the homeowners insurance you choose covers you for floods.

Special Protection During Hurricane Season

Having flood insurance in Florida is absolutely essential. You know as well as we do that hurricane season can be terrifying for homeowners. When you insure your home against floods, you know that you can get your home repaired and move on with your life without worrying about outrageous repair costs.

Protect what’s Important with Fearnow Insurance

Our insurance company in Seffner, FL can help you find homeowner’s insurance that fits your needs. We can help you secure your family’s future by matching you up with affordable coverage that can protect your finances in the event of a hurricane and flash flooding or any other natural disaster that can harm your residence. Contact our independent insurance agents today for a free quote.