It’s a commonly held belief by many home business owners that their homeowners insurance policy completely covers all of their business insurance needs. As your independent agent, we know that all types of insurance coverage varies by state, so it’s not wise to make assumptions about what’s covered.
Depending on the state, it’s possible that your West Hartford homeowners policy may offer limited coverage for certain items, but if it does, the maximum covered amount will have some type of cap for things like business equipment used in the home office, and a smaller amount for business equipment that’s used outside the office when you travel, or during outside business meetings.
As your insurance agent, we’re here to offer you help, suggestions, and guidance. For example, whether it’s your home, or commercial business insurance policy, you may want to consider deductible options for your required payment toward any type of covered loss before your insurance company will even start to pay a claim.
Based on the specific terms of your Connecticut insurance policy, higher deductibles can help save on your premium payments. The recommended amount in today’s economic environment is a minimum deductible of $500. and even higher if possible for added savings.
There’s no reason for you to attempt to figure out the variables on your own. It’s important that you call us to gain better insight. Since you’re located in the West Hartford area, there are other considerations like flood and windstorm deductible to consider. In fact from the latest data, Hartford is scheduled to receive the most Connecticut State aid the next fiscal year amounting to $257 million.
Your West Hartford, Connecticut homeowner’s insurance covers your home and possessions from losses due to fire, theft and storm damages. Individual insurance policies are issued to cover a set amount for the value of the home and a different amount for your personal belongings. The amount of personal insurance provided may not meet your unique needs.
Homeowners or renters should have an inventory list of their personal property for insurance purposes. However, when you purchase insurance to cover your items, you do not necessarily need to have an exact dollar figure. Policies are normally written to include a percent value for your goods. For example, a $100,000 home policy might include $60,000 worth of personal property. The same applies to a detached structure including garages or sheds.
High Value Goods and Collections
You should consider the need for additional insurance for specific items or collections. Your insurance will normally have a limit set for certain goods including jewelry, artwork or coin collections. Limits on jewelry may be $1,000 per piece with a $3,000 total limit. If you have an $8,000 ring, you need to have additional insurance added to cover your ring.
Artwork, coins and stamp collections may also exceed the limits in regular property policies. You will want to talk to an agent about Scheduled Personal Property or Optional coverage for unique and high-value possessions.
You should also understand the difference between market value and replacement cost for personal property. The first pays you the value of the item based on its age, minus your deductible. The second pays the cost of a new purchase after your deductible. As your independent agent, we want to make sure you and your West Hartford, Connecticut home are properly covered by your insurance.
Commercial insurance in West Hartford, CT provides businesses with protection from risks. Those risks may affect the business’s assets, such as equipment, buildings, and employees. It can also help to reduce the risks associated with liability claims that others make against the organization. The need for commercial coverage is evident in virtually all types of businesses.
Commercial coverage needs range significantly from one business to another. Work with an independent agent to learn about policies right for your business.
In West Hartford, Connecticut, asset coverage is important. Commercial property insurance, commercial auto insurance and commercial equipment coverage are important for most businesses. Having proper protection for these items may help prevent losses from theft, vandalism, or other risks from costing your business too much.
Workers compensation is another type of commercial coverage many businesses need. It helps to protect your business (and employees) from losses related to on the job injuries. Employees hurt on the job often face lost time at work, medical bills, and long term care needs that the business may be responsible for paying if it does not have appropriate workers compensation coverage.
Liability insurance is another type of necessary commercial insurance coverage. This type of insurance may help protect a business from lawsuits filed against it. This might include lawsuits related to customer’s falling, defective products, poor service, or other losses suffered by your customers due to your business’s potential negligence.
To find out what types of insurance your commercial establishment needs, talk to an independent agent in West Hartford, Connecticut. You’ll be able to not only find the policies right for your business, but also get the most affordable coverage available. This could help you to save money in the long term while also providing coverage for your business’s biggest risks.
Insurance is a product that is designed to cover people from the cost associated with losses do to natural disasters. A loss can happen at anytime and just about in any place. If you are not prepared from it when it comes, then you could be facing repair bills that are beyond your financial ability. To help you find an insurance product that can cover your risk exposure here are some acts of God that you are covered for.
Types of Perils that You can Expect to be Covered For
- Hail is one peril that you can expect coverage against. Hail is a result of strong thunderstorms that can develop without much warning.
- Vandalism is one thing that some people never have to deal with as a homeowner.When it does happen you will need to have insurance coverage in order to have help paying for the damages.
- If some one is hurt on your property you will need to have liability attached to your insurance policy. If someone if hurt on your property and can prove it is your fault, then your policy will cover the damages.
- Fire is a common cause of a lot of damage. Your policy will help pay for the cleanup, water damage, smoke damage and other related secondary damages.
Acts of God can strike at any time in West Hartford , Connecticut. If you have any questions about your home insurance policy and what it covers, then you need to contact your independent agent today. You need to call your agent to find out the truth about your policy. It is what you do not understand that can really cause trouble to your financial standings.