When running a business venture, you need to take calculated risks as well as mitigate prevailing risks in the business environment. Without a sound risk mitigation strategy, you don’t need many catastrophes to bring your business down. One significant threat is enough to see your hard-earned investment go down the drain. Luckily, having the right mix of commercial insurance policies can form formidable protection for your business.

Express Insurance of Longwood, FL gives must-have insurance policies to see your business run for many years to come. 

Must-have Commercial Insurance Policies

Worker’s comp insurance

Since your employees can get hurt while at work, you need an insurance policy to cater to the injuries when they happen. Worker’s comp insurance covers medical costs, ongoing care, and partial loss of wages for work-related illnesses and injuries. Without this coverage, you will have to cover these expenses from your business coffers.

General liability insurance

While it’s not mandatory in Florida, every business must have this coverage. Liability insurance protects you when accused of property damage, bodily, and advertising injury. Since liability claims can be prohibitive, your business must have sufficient liability coverage to withstand the storms of liability claims when they knock on your door.

Property insurance

Do you own buildings, inventories, or computers? Investing in property insurance isn’t an option. Property insurance compensates you when losses and damage occur to your properties. Yes, property insurance won’t prevent the perils, but it ensures you don’t start from scratch.

Cyber liability insurance

With an upsurge in cyberattacks, your business can be a great mess if you don’t have a safety net when data breaches occur. Cyber liability insurance lessens your financial burden when hackers manage a successful attack.

Getting the right mix of your commercial insurance policies is crucial for survival. Want to protect your Longwood, FL with business insurance? Please contact Express Insurance to have the conversation started.

Losing the assets you have accumulated in life is the last thing you want. Thankfully, if you have umbrella insurance from Express Insurance in Longwood, FL, you can protect your assets from liability claims and lawsuits. Unfortunately, umbrella insurance is one of the most little understood coverage. Today, we discuss 4 facts you need to know about umbrella insurance. Let’s explore.

Umbrella insurance is ideal for almost everyone

One of the most peddled misconceptions about umbrella insurance is that it’s only suitable for the super-rich. While umbrella insurance is ideal for high net-worth individuals, anyone earning livelihood needs umbrella insurance.

Given that anyone can be sued in America, investing in umbrella insurance is the safest way to safeguard what you own.

Provides high and broader coverage

Umbrella insurance not only boosts your liability coverage but also broadens it. How? Umbrella insurance covers you against liability claims not included in other liability coverages. For instance, umbrella insurance covers you against libel, false arrest, and slander that aren’t covered by other conventional liability coverages.

It’s super-affordable

You might think that a coverage policy protecting your assets worth millions of dollars should be super-expensive. You’re mistaken. Umbrella insurance is quite affordable. Umbrella insurance is surprisingly affordable because it rides on existing policies and only takes effect after the underlying policy has been exhausted.

It covers you anywhere in the world

Unlike other insurance plans limited only to America, umbrella insurance doesn’t have geographical restrictions — it covers you anywhere in the world, except for cars and homes you own in those respective countries.

Are you shopping for umbrella insurance in Longwood, FL? If yes, please make Express Insurance your partner for all your umbrella insurance needs. We will give you the ins and outs of umbrella insurance and recommend a policy that protects your assets and future income.

Many people who rent know they don’t need to worry about responsibility in the event an unexpected event occurs and results in the need for property repairs. However, to ensure your personal possessions are covered, you will need to invest in renters insurance from an insurance agency like Express Insurance, serving Longwood, FL. Here are a few frequently asked questions regarding renters insurance.

What Does Renters Insurance Cover?

Renters insurance is specifically designed to cover your personal possessions from an assortment of covered perils, such as falling tree branches, high winds, and fires. Renters insurance also covers your belongings against vandalism, theft, and other forms of criminal activity. In the event your personal items suffer damage or are completely destroyed, your insurance company may pay for the repairs or replacement of the item.

Renters insurance includes liability coverage that will protect you from legal action in the event you cause damage to someone else’s property or someone suffers an injury while on your property. 

What Does Renters Insurance Not Cover?

Earthquakes and floods tend to be excluded from renters insurance coverage. Because of this, especially if you currently live in a high-risk area, you will want to purchase the necessary additional coverage. In some cases, depending on the items that you are insuring, you may need to increase the coverage to ensure your belongings are properly covered in the event of a disaster.

How Much Coverage Is Needed?

In order to determine how much renters insurance coverage you need, you need to create an inventory list of your belongings. While this sounds overwhelming and time-consuming, it is necessary. In addition, there are many websites and phone apps out there that will make the entire process much easier for you. 

When you have questions or need to invest in renters insurance, you can rely on the professionals at Express Insurance, serving Longwood, FL.

Owning a company in Florida comes with plenty of responsibilities, and having the right commercial insurance is one of them. There are two types of commercial insurance that many businesses in the state are required to have. In addition to those, there are several useful types of commercial insurance, such as business owner’s insurance and cyber insurance, that can be highly beneficial to your company. If you need commercial insurance policies, give us a call at Express Insurance in Longwood, FL.

Workers’ Compensation Insurance

Different states have different regulations for this type of commercial insurance. In Florida, you are required to have it if you have at least four employees, and it doesn’t matter whether they are part-time or full-time. This insurance pays for the medical bills and the lost wages of an employee after they suffer an injury at work or get a work-related illness there. This is an important protection for workers, but it also protects your business from having to pay massive medical bills after an on-site accident. 

Commercial Auto Insurance

If your Florida business owns a vehicle, that vehicle must have a commercial auto insurance policy. There are specific amounts mandated by the state for the minimum amounts of protection you must have. However, those amounts are extremely small, and it’s highly recommended that you get more coverage to protect yourself and your business. This insurance must include coverage for property damage liability and for personal injury protection. If you have a business that often uses a vehicle of yours, but the business doesn’t actually own it, there is a different type of insurance that you should get for it. It’s called hired and non-owned, and it will protect you better than a personal policy that may not payout if the vehicle was engaged in work tasks. 

Get Your Commercial Insurance Policies

If you own a business, it’s important to have the commercial policies you need to protect it. Give us a call at Express Insurance in Longwood, FL.

Umbrella insurance coverage in Longwood, FL offers solidified additional liability protection. As a Longwood FL resident, have you ever thought about what could happen if a high magnitude calamity struck in Longwood, FL and you have depleted the prevailing policy limits of other underlying coverages like home and auto? Regrettably, many residents bear the notion that umbrella insurance is only for the rich. Contact us at Express Insurance situated in Longwood, FL today. Our dedicated team will help you forge strong coverage to guard your hard-earned assets in today’s litigious society.

Is umbrella insurance mandatory in Florida?

Umbrella insurance is not mandatory in Florida, but it’s prudent to acquire one, particularly if you own assets to protect them from a lawsuit. Umbrella insurance is a supplemental coverage designed to protect you beyond existing limits and coverages of other primary policies. You may be owning a home, boat, or auto insurance, but they can only safeguard you up to a certain limit. In the case of substantial claims, these coverages can get depleted, compromising your assets.

 Types of umbrella insurance coverages

Bodily injury liability coverage: It safeguards you from bodily injuries you propagate to other parties when you are found guilty. These impending expenses consist of medical bills or liability claims that can culminate from:

• A severe auto accident where you are legally responsible
• When a guest in your dwelling accidentally slips or falls

Property damage liability coverage: It reimburses the cost of damage you propagate to another person’s tangible property. It entails the cost of damage to vehicles and other property due to an auto accident where you are legally responsible.

Owners of rental unit coverage: It shields you from impending liability you may encounter as a landlord, such as your tenant’s pet biting someone, and you are deemed responsible for the injuries

Are you looking for outstanding umbrella insurance coverage in Longwood, FL to enhance your liability coverages when your other policies run out? Call or visit us at Express Insurance, and our agents are looking forward to helping you with your insurance needs.