Which Type of Commercial Insurance Helps with an Office Fire?

The Various Types of Commercial Insurance in Florida

Business owners and managers can be excused for being confused about the various amounts of different insurance coverage types. While some insurance policies cover the product or service sold to a customer to defend against warranty issues or damage caused by what was sold, other policies cover property loss from the theft while other coverage options only offer coverage when an employee gets injured on the job. It is common for a company to have at least four or five different policies for the operation of a business and then need a custom short-term policy for one-off special projects that come along from time to time.

When a property fire occurs for a Fort Lauderdale, FL company or business, the first thing to do is make sure anyone involved is safe and unharmed. After the initial risk has subsided, the issue involving property damage and loss assessment can be addressed.

According to Coastal Wealth Insurance, LLC, this type of financial impact typically falls under the property loss casualty category, protecting a business from unplanned risk. It’s the same kind of protection that would apply to a structural accident, weather, theft, and other similar incidents. Business/commercial insurance, on the other hand, focuses more on the activity of the business and how it impacts a customer or client. It is not intended for property damage or loss associated with an unplanned destructive event or natural disaster. This difference can be confusing for new business owners looking for a one-stop, comprehensive type coverage.

To make sense of the above, Fort Lauderdale, FL businesses can contact the staff at Coastal Wealth Insurance, LLC for advice and answers. Business protection can be confusing, but there is clear guidance available to help make sense of it all.

 

Will My Auto Insurance Cover Medical Bills?

If you are a Tampa or Fort Lauderdale, FL resident who has recently been in a car accident, you may be wondering how you are going to pay the remaining medical bills you may incur. Often, serious car accidents can result in thousands of dollars in bills, and you may lose wages or your job completely if you can’t work.

Below, we will discuss how auto insurance coverage may help pay for your medical bills and what you need to know after a car accident.

Auto Insurance and Accident Medical Bills: What You Need to Know

Unfortunately, this article is not going to explain in detail how your medical bills will be affected by auto insurance. This is because every auto insurance plan is different. We can give you some idea of what you will encounter, however.

Many auto insurance plans will offer payments for medical bills if you are named on your auto insurance policy and you are making a no-fault claim. This applies to most personal injury protection coverage plans (PIP).

Also, in the state of Florida, you can pay for additional medical coverage called “MedPay.” This is a form of optional coverage that can be purchased for most any auto insurance policy.

It’s important to remember that these types of payments for your medical bills are no-fault claims. It doesn’t matter who was at fault in the accident. In many cases, this coverage will not pay for all of your medical bills, and this is when many people decide to sue the other driver if they were not at fault in the accident. Again, you will need to consider your situation on a case-by-case basis as all accidents and insurance policies are different.

Contact Coastal Wealth Insurance, LLC Today

If you are a Tampa or Fort Lauderdale, FL resident who has recently been in an auto accident, Coastal Wealth Insurance, LLC can help you decipher what your policy offers. We can also help you sign up for new auto insurance if you don’t currently have a plan. If you are looking for a quote, try our online rating tool for auto and home insurance. Stop by our office or call us today.

How to File a Claim on Your Home Insurance after the Hurricane Passes

Now that the winds have died down, it is time to get the clean up underway on your Tampa or Fort Lauderdale, FL property. At Coastal Wealth Insurance, LLC, we are here to help you recover from the latest devastating weather. Like many of your neighbors, you may have damage to your roof, windows, trees, and landscaping.  Here’s a short checklist to help you on your road back to normal.

  • Ensure Your Personal Safety: Before you start worrying about filing a claim on your home insurance, make sure that your home is safe. Water can damage electrical and gas connections and standing water is a breeding colony for bacteria. If you think there is an active hazard in your home, evacuate to a shelter until a contractor can declare it is safe.
  • Secure Your Home: Board up any broken windows and fix your doors so that you are able to lock your home. Discourage looters from taking advantage and preserve your possessions.
  • Call Your Coastal Wealth Insurance, LLC Agent: Don’t hesitate to place a call with your agent ASAP if you feel there is an emergency. Even if you don’t have a complete picture of all the damage, they can start the paperwork and can expedite emergency funds to help you defray the costs of hotels, meals, and other expenses. Now is definitely the time to take advantage of every service your insurance company has to offer.
  • Start Snapping Pictures: Use your phone or your kid’s smartphone to document all the damage to your home and yard. You can email the images to your Fort Lauderdale, FL insurance company to speed along the claim process.
  • File a Claim with FEMA: While your home insurance policy is going to help you rebuild, filing a claim with FEMA at a local community center can open up additional options and services available to everybody in the region.

It is important to make all the stops when it comes to flood recovery. We are proud of our community’s efforts to help each other rebuild and lend a helping hand. Reach out to us for more information on a flood insurance policy. 

3 Tips for Getting Commercial Insurance in Florida

If you own a business in Fort Lauderdale, FL or other parts of Florida, you need commercial insurance. This type of insurance protects your business against scenarios that you are not likely to foresee, such as liability, theft, property damage, or employee or customer injuries. 

Are you getting the most out of your current policy? Are you looking for a new policy or do you want to change an existing commercial insurance policy? If so, here are three tips for getting great commercial insurance in Florida.  

Bundle Your Policies

When it comes to owning a business, you want to protect it and save money. You can do this when you bundle your commercial insurance with other insurance policies, such as auto insurance.

Compare Quotes

Taking the time to compare quotes from different insurance agencies pays off in the long run. Pay attention to the details, such as exactly what is covered and for how much. A reputable agent can help you compare quotes to choose the best policy.  

Work With a Reputable Agent

Your business is your livelihood, and whether it is a start-up or has been in your family for years, you need to make sure that no matter what happens, it is protected. To do this, work with a reputable agent who has the experience and positive feedback you desire. Beyond that, collaborate with an agent who is friendly, personable, and who returns your calls.  

At Coastal Wealth Insurance, LLC, we understand commercial insurance and our friendly agents are standing by to answer all of your questions, help you compare quotes, and help you save money. To speak to an agent at Coastal Wealth Insurance, LLC contact us today or visit our offices in Fort Lauderdale, FL.

 

 

 

Why Do I Need Auto Insurance in Florida?

Before you head out on the road with your vehicle in Tampa or Fort Lauderdale, FL, purchasing auto insurance is required by law to avoid potential fines, tickets, and penalties (whether you are pulled over or involved in an automobile crash). Understanding why auto insurance is required for the state of Florida is necessary to avoid issues whenever you are driving with others on the road. 

Limited Liability Auto Insurance Coverage

The most important type of auto insurance that is legally required in Florida is a limited liability policy. Both bodily injury and property damage are covered for any drivers of your vehicle when on the road. When you are involved in an accident, limited liability coverage protects you from becoming personally responsible for any potential damage or injuries you have caused.

Collision/Comprehensive Insurance

With collision insurance, cover any damage done to your vehicle when in an accident. Comprehensive coverage is more extensive, protecting you against everything from weather damage to theft and road accidents. 

Medical Payment Coverage

When you want to protect yourself, and other drivers from medical bills and fees, obtaining medical payment coverage is highly advisable. Anyone involved in an auto accident while in your vehicle is eligible to have their medical bills (and in some cases, funeral expenses) covered with the policy you have in place. 

With Coastal Wealth Insurance, LLC, get the auto coverage you need and can afford with any budget to ensure you are driving safely and legally at all times. Comparing types of auto insurance coverage and your options is a way to move forward with the right solution for your needs and the needs of your entire household. 

For more information about auto insurance available to you in Tampa or Fort Lauderdale, FL, contact Coastal Wealth Insurance, LLC for a quote today.

What is Replacement Cost Value?

You’ve probably seen the term replacement cost value on your homeowner’s insurance policy. But what does it really mean? Our team at Coastal Wealth Insurance LLC has put together this handy guide for you to review.

What is Replacement Cost Value?

To put it simply, replacement cost value is what it would cost to build your home from the ground up in the event of a major disaster or fire. If your property is older, this also means constructing it to include modern fixtures and building code standards, which often cost much more than what you might currently have. Furthermore, replacement cost value takes into consideration the cost of labor for workers and supplies to reconstruct the residence.

Why Does Having Replacement Cost Value Coverage Even Matter?

The reason why having replacement coverage even matters is that it protects you in the event of a claim. If something happens to your home, you will expect your insurance policy to help you rebuild it back to the same state it was in before the incident. Failure to have this type of coverage could mean only receiving a fraction of your actual monetary needs to get the home back into a livable state.

Should I Add Replacement Cost Value to My Fort Lauderdale, FL Policy If I Don’t Already Have It?

Most insurance carriers have latched onto this type of coverage in recent years and already automatically include replacement cost value in their homeowner’s policies. However, if your coverage contract is older, it might be time to discuss with your agent the benefits of adding replacement cost coverage.

Are you looking to review your homeowner’s insurance policy? Contact Coastal Wealth Insurance LLC now for a no-obligation review of your Fort Lauderdale, FL coverage needs.

Fort Lauderdale FL

Protecting Your Inventory With Business Insurance

As a business owner in Fort Lauderdale, FL, you deserve to keep your business inventory safe from theft. If you don’t have commercial insurance to cover your losses, we at Coastal Wealth Insurance, LLC are here to show you why it is necessary to get it as soon as possible.

Commercial Insurance Covers Inventory Loss

When you take out commercial insurance on your business, it covers all forms of inventory loss. This includes damage from fires, floods, earthquakes, and other natural disasters. However, it also covers a variety of different types of theft. There are two main theft losses you’re likely to suffer from as a business owner: theft from your employees and theft from outside forces.

Employee Theft May Occur

One thing that business owners may not be ready for is when employees steal from their inventory. This unfortunate situation is actually more likely to occur than any other type of robbery. Thankfully, your commercial insurance will cover it.

That said, you need to make sure you follow a variety of steps to get this theft covered. For example, you are likely to need to fill out a very detailed claim notice and provide documentation that shows your employees stole from you.

Outside Theft Is Also Covered

What about if customers or thieves break into your business and steal your inventory? Don’t worry, your business insurance should have you covered. Commercial insurance is designed to cover the cost of replacing your inventory if outside forces steal it.

Your rates are likely to go down if you install cameras and other security devices in your facility. In fact, your payouts from the company could increase if you take these security measures.

Please contact us at Coastal Wealth Insurance, LLC if you need commercial insurance in the Fort Lauderdale, FL area. We will get you the coverage you need to protect your inventory.

3 Things You Didn’t Know Your Auto Insurance Could Do

In the state of Florida, all vehicles with four or more wheels are required to have auto insurance. Minimum insurance coverage protects motorists from damaging accidents.

Auto insurance policies come with a variety of options and additions. With the guidance of a local insurance agent, you can customize the perfect policy for your needs.

If you’re thinking about upgrading your existing policy, here is a list of options you might not know about.

Rental Cars

A car accident can disrupt your daily routine for a long time. Rental cars can help you resume normal activities more quickly.

The insurance experts at Coastal Wealth Insurance, LLC in Fort Lauderdale, FL can make it even more convenient. If you need a rental car as the result of an accident, your fees could be covered.

Tow Truck

Mechanical troubles don’t have to ruin your day. Many insurance companies contract with local tow drivers and services to offer their members special discounts and priority attention. Talk to your agent before you take off on your next road trip.

Tow truck coverage also covers removing your vehicle from the scene of an accident if it becomes undrivable.

Additional Equipment

Whether you spent the last few years restoring a classic car to mint condition or installed a wheelchair lift in your minivan, customized vehicles can be difficult to insure. Many policies do not cover equipment and features that did not come from the manufacturer. An additional equipment option will ensure that your special vehicle is adequately protected.

Coastal Wealth Insurance, LLC offers customized auto insurance policies in the Fort Lauderdale, FL area. Contact an insurance expert to find out how to make your insurance policy go the extra mile for you.

Spring Home Maintenance Tips for Your Yard

While the winter is not especially taxing in Florida, spring is a great time to take a look at your yard and address some things that can be problematic if left unattended to. Here are a few spring home maintenance tips from Coastal Wealth Insurance, LLC for your yard in Fort Lauderdale, FL:

Look at the Slope of Your Yard

Rain can erode your yard over your time. This can cause your yard to have a slight slope in it. If it slopes away from your home, this is fine. But if it slopes towards your home, you have an issue. A yard that slopes towards your home can push water to sit against your home damaging the siding or foundation. Spring is a great time to look at this and grade your yard as needed so that it slopes away from your home.

Trim Your Trees

When you trim your trees, you will want to trim away any branches that sway against your roof. Swaying branches can damage the roofing material. Also, trim away any dead or damaged limbs. These can be hazardous and may fall on people or your property, causing injuries or damage.

Tend to Any Damaged Patios or Decks

The last home maintenance tip for your yard is to attend to any damaged decks or patios. If your decking is warped, spring is a great time to replace damaged boards. If your concrete patio has a hole or large crack, spring is a great time to lay a new concrete surface or make concrete repairs.

Tending to your yard can help protect your home from damage. In turn, this can minimize the number of home insurance claims you may need to file. If you are looking to obtain a new home insurance policy in the greater Fort Lauderdale, FL area, Coastal Wealth Insurance, LLC can help. Contact us today with any questions you may have or to schedule an appointment to talk about all of your home insurance needs. We also offer an online rating tool to find quotes for your home insurance, visit our site for more information on this tool.

 

Coastal Wealth Auto Insurance in Ft. Lauderdale, Florida

In Florida, as in most states, drivers must purchase automobile insurance before they can legally operate a car. When drivers in the Fort Lauderdale, FL area need an affordable reliable policy, they turn to Coastal Wealth Insurance, LLC. 

Florida drivers must carry a minimum in coverage for both personal injury and property damage liability. While these amounts will keep you on the right side of the law, they won’t cover all of your damages. Especially if you’re involved in a catastrophic accident. In Florida, floods, hurricanes, and thunderstorms are common threats. Spend a little more money now and avoid paying more later. 

Coastal Wealth Insurance, LLC offers policies for all of you car collectors too. Vintage cars can be seen on highways and interstates across Florida. The Sunshine State is a haven for car collectors. Collectors often leave their cars in the garage, accumulating dust. That’s just not right. Cars are meant to be driven, especially the fast ones. Coastal Wealth Automobile Insurance will set you up with the coverage you need to get out of the garage and onto the street. 

Coastal Wealth Insurance, LLC offices can be found at 2400 E Commercial Blvd, on the 11th floor. Visit our main website or give us a call at 954-331-5046. You’ll speak with a helpful experienced team member who can help you find the coverage that’s right for you, your vehicle, and your family. If you live in or around Fort Lauderdale, FL, don’t wait for the next storm to hit. Contact Coastal Wealth Insurance, LLC today and see what they can do for you.