How Much Home Insurance Should I Have?

Your home means a lot to you. Despite your heavy investment in your home, it’s also a place where you have many memories. Your home holds sentimental value to you, so you should do everything possible to safeguard your beloved home.

One way of protecting your home is to invest in home insurance. While home insurance is a wise investment, you must buy a sufficient amount to give you much-needed protection. Not sure how much home insurance you need? Please talk to eAdvisorPro Property & Casualty LLC. But before then, here is a brief guide to help you determine the amount of home insurance needed.

How much dwelling insurance is enough?

If you want to determine the amount of dwelling insurance required, assume the worst-case scenario. Imagine a fire has consumed your home. How much would it cost you to rebuild your house from scratch? This should be the value used to insure your home.

The "replacement cost" value takes care of the local building costs. This means you will be compensated for your home’s value today. The replacement cost saves you out-of-pocket expenses when rebuilding or replacing your home.

How much content coverage do I need?

Like dwelling coverage, assume the worst-case scenario when determining the amount of contents coverage required. Always consider a value that can replace your entire assets. For instance, your home insurance should be sufficient to replace your assets when lost to a fire, flooding, etc. Maintaining a home inventory is the best way to ensure everything in your possession is covered.

How much liability coverage do I need?

This is usually tricky because you never know the number and extent of liability claims you will face. As a rule of thumb, you should hold liability coverage exceeding your assets. We usually recommend liability coverage of $300,000 but if you need additional coverage, consider umbrella insurance.

Home insurance in Florida

Still unsure about the amount of home insurance you need? Please get in touch with eAdvisorPro Property & Casualty LLC for personalized advice.

Required Auto Insurance in Florida

When you have a vehicle in Florida, you must have an auto insurance policy. You can be charged high fines and fees if you don’t have a policy and proof of that policy. It’s also essential to have this coverage for your own protection in case you are at fault for an accident. When you are at fault, it’s up to you to pay for any of the damages done to the other party and their vehicle. To get the coverage you need in Florida, contact us at eAdvisorPro Property & Casualty LLC in Oakland Park, FL.

Florida Required Auto Insurance Coverage

There are many different types of auto insurance coverage that you can get to protect yourself and your finances. Florida’s required types of coverage are personal injury protection and property damage liability. In Florida, your insurance pays for your own injuries from an accident, even if the accident was someone else’s fault. You are required to have a small amount of this protection so that your own medical bills can be paid. However, the amount of personal injury protection required is so small that it’s a good idea to get more than is required. There is also an amount of property damage liability that is required. This pays for the damages to someone else’s vehicle after an accident. 

Collision Coverage

The state doesn’t require collision coverage, but it’s generally recommended for your protection. This coverage pays for the damage done to your vehicle in an accident when you are at fault. 

Get Your Auto Insurance in Florida

When you need auto insurance to stay legal and to protect yourself, contact us at eAdvisorPro Property & Casualty LLC in Oakland Park, FL to get the coverage you need.

Four Benefits of Home Insurance

Buying a house is a dream come true for many. It takes a lot of savings and financial planning to own a home. It’s prudent to protect it from any unthinkable event. Home insurance, therefore, is a must-have for all homeowners. If you are still unsure whether you need home insurance, consider the following benefits as prepared by eAdvisorPro Property & Casualty LLC.

  • Liability coverage: You can’t afford to miss liability protection if you own a home. You could be liable if someone becomes injured on your premises or is bit by a pet. It could result in thousands of dollars for medical expenses or lawsuits, hence the need for liability coverage.
  • Dwelling protection: The main reason why most people buy home insurance is to protect their primary structure. Imagine dealing with total loss or significant damage due to a house fire or hurricane. With all your years of investment in your home, you can only do yourself a favor and buy home insurance.
  • It protects your assets: Personal assets like furniture, appliances, electronics, and other assets do not come cheap. Therefore, taking inventory of your home contents is crucial when signing the policy. The policy reimburses you if a covered event destroys any of the contents, a considerable benefit you should not ignore.
  • Covers additional living expenses: Home insurance offers more than just repairing or rebuilding your home after damage. The policy also puts you in a temporary living place if your home becomes uninhabitable after a covered event.

Home insurance in Oakland Park, FL 

Home insurance provides significant relief to all homeowners. Instead of constantly fearing what would happen in the event of an unfortunate occurrence, you sit and relax, knowing your home insurance policy got you. If you are looking for home insurance in Oakland Park, FL, look no further than eAdvisorPro Property & Casualty LLC. Contact us today for an affordable quote.

Required Commercial Insurance in Florida

In every state, there are laws about which types of commercial insurance businesses within that state are required to have. In Florida, there are two that are mandated for certain companies. Knowing whether your unique business is necessary to have this coverage under state law is important. If you want to protect your business with commercial insurance, call us at eAdvisorPro Property & Casualty LLC in Oakland Park, FL.

Workers’ Compensation Insurance

Workers’ compensation insurance is a policy that pays for certain expenses after an employee has an accident at work and becomes injured. The policy will pay for the injured party’s medical bills, so there should be no reason to sue you for the damages. The policy can also pay for the worker’s lost wages due to the injury. If your business has at least four employees, you are required to have this insurance coverage. The employees may be part or full-time. 

Commercial Auto Insurance

When you have a business vehicle, a vehicle the company owns, that vehicle must be insured with a commercial auto policy. There are specific coverage requirements for these policies to cover different expenses. A coverage amount is required for your property damage liability for property damage that happens during an accident, and another specific amount is mandated for personal injury protection to pay for your medical bills from injuries incurred in an accident. These amounts are tiny, however, and it’s generally advised to get more coverage than the state minimum. This will mean better coverage in case an accident is severe. 

Get Your Commercial Insurance

It’s important to have the coverage you need for your business, especially when the state mandates it. When you need this protection in Oakland Park, FL, call us at eAdvisorPro Property & Casualty LLC.

Do I need Full Coverage Auto Insurance With a Car Loan in Florida?

Like most people, you probably have questions about full coverage auto insurance and car loans. Do you need full coverage if you have a loan on your car? What are the benefits of a comprehensive policy? Let’s look at full coverage auto insurance and car loans in Oakland Park, FL.

Car Loans and Insurance

If you have a car loan, your lender will require you to have full auto insurance coverage. This is because the lender wants to ensure they protect their investment in case of an accident or theft. With full coverage, your lender will be reimbursed for the remaining balance of your loan if your car is totaled or stolen.

What is a Comprehensive Insurance Policy?

A comprehensive insurance policy is a type of full coverage auto insurance that covers you for more than just accidents. Comprehensive coverage includes protection from fire, theft, vandalism, and other types of damage. Lenders often require this if you have a car loan.

Your eAdvisorPro Property & Casualty LLC insurance agent can help you learn about the benefits of full coverage auto insurance and decide if it’s right for you.

Gap Coverage

Another reason to have full coverage auto insurance is gap insurance. Gap insurance covers the "gap" between the value of your car and the amount you still owe on your loan. This is important because if you total your car, the insurance company will only pay the vehicle’s market value, which may be less than what you owe on your loan. Gap insurance covers the difference, so you don’t have to come up with the money.

To learn more about full coverage auto insurance in Oakland Park, FL, and whether it’s right for you, contact your eAdvisorPro Property & Casualty LLC agent today.

When Should I Review My Home Insurance Policy?

It can be easy to put off reviewing your home insurance policy, especially when you feel like you’re juggling a million other things. But trust us – taking the time to review your coverage is well worth it thoroughly. After all, your home insurance policy is one of the most critical documents, protecting your property and finances in case of an unexpected disaster or accident. So, when should you review it? Here are some good times to take a closer look.

1. After Making Any Changes to Your Home

If you’ve made any changes to your home, it’s good to review your insurance policy to make sure it still meets your needs. For example, if you’ve renovated your kitchen or added a new deck, you’ll want to ensure that your coverage limits have increased accordingly. This ensures that you won’t be caught short in the event of a claim.

2. When Your Policy Is Up for Renewal

Similarly, if your policy is up for renewal soon, you’ll want to ensure it’s still the best fit for your needs before renewing it – otherwise, you could end up paying for coverage that doesn’t do what you need to.

3. If You Haven’t Reviewed It In a while

Even if you don’t think you’ve made any changes to your home or your policy isn’t up for renewal, it’s still a good idea to review your insurance coverage every few years to ensure everything is still in order. Things can change over time, and it’s always better to be safe than sorry.

4. When You Make a Major Purchase

If you’ve made a significant purchase, such as new furniture or electronics, you’ll need to let your insurer know so that they can add it to your policy. This ensures that you’re protected in case of damage or theft.

5. After Installing Security Systems, Cameras, Etc

Let your insurer know if you’ve made any changes to your home security, such as installing a security system or cameras. Some companies offer discounts for homes with certain security features so that you can save money on your premiums.

As you can see, there are several times when it’s a good idea to review your home insurance policy. eAdvisorPro Property & Casualty LLC in Oakland Park, FL can help you ensure that your policy is up to date and provides the coverage you need. Give us a call today to learn more.

 

How Much Coverage Do You Need?

No matter what kind of business you have, adequate commercial insurance is essential. This type of insurance protects your company from lawsuits or other financial damages that could result from accidents, injuries, or property damage. But with so many different types of coverage available, it can be challenging to determine how much protection you need. Here are a few factors that can affect the amount of commercial insurance coverage you should carry.

The Size and Scope of Your Business

The size and scope of your business are important factors to consider when purchasing commercial insurance. A small business with limited assets and a low liability risk will need less coverage than a larger company with more liabilities.

Your Business Activities

Your business activities can also affect the amount of coverage you need. If your company is in a high-risk industry, such as construction or transportation, you will likely need more insurance than a company that doesn’t have as much risk.

The Type of Property You Own

The type of property you own is another important consideration. If you have high-value items, such as vehicles or equipment, you must ensure they are adequately covered. It would help if you also considered the value of your building and any inventory you may have.

Your Liability Risk

Your liability risk is another crucial factor when determining how much commercial insurance coverage you need. If your business could be held liable for injuries or damages, you must ensure you have adequate protection.

When it comes to commercial insurance, there is no one-size-fits-all solution. The amount of coverage you need will vary depending on the size and scope of your business, the activities you engage in, and the type of property you own. If you are a business owner in Oakland Park, FL, contact eAdvisorPro Property & Casualty LLC for a free consultation. We can help you determine the right level of protection for your business.

Is having auto insurance in Florida a requirement?

Those that live around Oakland Park, FL are going to find that owning a car is a good option as it will make it a lot easier to get around the community. If you are looking for a car, you do need to ensure that you get the grith insurance coverage as well. There are various reasons why having an auto insurance plan will be a requirement for a vehicle owner in this part of Florida.

Coverage is Needed to Meet Lender Standards

Vehicles today are quite expensive and taking out a loan is a great way to finance the purchase. While there are benefits that come with financing the purchase of a car, you do need to comply with the agreements you sign. This will always include agreeing to carry a full insurance plan. Lenders will want you to have this coverage as it protects their loan collateral.

Meet State Requirements

In Florida, you will also need to have auto coverage to meet standards set by state law. If you choose to drive a car on a public road in Florida, you need to carry liability coverage. This insurance ensures you have coverage to offset damages that you may cause in an accident. If you are not properly insured with this coverage, you could be found in violation of the law. 

People that live in the Oakland Park, FL area will always benefit from having the right insurance plan. When you are looking for a new policy, it can be a great option to call eAdvisorPro Property & Casualty LLC. The team with eAdvisorPro Property & Casualty LLC understands the value of this coverage and will offer any support needed to choose an auto insurance policy that gives the right level and type of coverage. 

Types of Auto Insurance

If you are a resident of Oakland Park, FL, who needs auto insurance, then speak to eAdvisorPro Property & Casualty LLC about your options.

When purchasing auto insurance, your first step is to establish what is required by the state. The requirements will vary from state to state, but FL specifically may require two types of insurance for the individual vehicle owner. The first is Personal Injury Protection (PIP) and Property Damage Liability (PD). PIP is for if you (and depending on the structure of the insurance) certain other individuals if you sustain injuries in a vehicle accident. PD is for damage sustained to someone else’s property. For each of these insurances, a minimum of $10,000 in coverage is required.

You may also be required to purchase bodily injury coverage (BI); this depends on your driving history and whether you have caused bodily injury to someone else or received citations.

When purchasing auto insurance, you should consider what type of insurance you need. The two main aspects of auto insurance are liability and comprehensive/collision. Liability insurance is always a good idea because you never know if you accidentally become legally liable for damaging someone’s property or causing bodily injury.

The second aspect concerns damage to your vehicle. Collision insurance will provide financial protection against damage when your car is damaged or destroyed in an accident. On the other hand, comprehensive auto insurance provides financial protection against damage due to an auto accident and financial protection against accidental damage, loss, or theft of your vehicle. There are also several add-ons insurance options available.

There is a range of auto insurances to choose from, so speak to eAdvisorPro Property & Casualty LLC serving Oakland Park, FL, today regarding your options.

Do all Homeowners Need Home Insurance?

Legally speaking, you can own a home without home insurance. No law in Florida requires homeowners to purchase home insurance. However, if your home is financed by a federal-regulated lender, they may require you to buy home insurance. But does this mean that if you have completed paying off your mortgage you don’t need home insurance? This can’t be further from the truth. eAdvisorPro Property & Casualty LLC advises all homeowners to invest in home insurance for the below reasons:

  • To protect your dwelling: With all the money and time you have spent bringing up your home, protecting it with home insurance isn’t an option. While home insurance doesn’t prevent risks from incurring, it ensures that you don’t incur out-of-pocket expenses when disasters strike in your home. Better yet, at an additional premium, home insurance covers the assets inside your home and structures within your home compound.
  • To cover you against liabilities: If you are held legally responsible for causing property damage or bodily injury to third parties, home insurance can come to your rescue by footing the liability claims.  
  • For peace of mind: You should enjoy your home all the time. But if your home isn’t covered by home insurance, you are always thinking about the possibility of risks wiping your hard-earned investment. Thankfully, you can live a worry-free life if you have home insurance because you know you are covered.

Ultimately, home insurance may not be mandatory, but all homeowners must invest in this coverage. Given that your home means a lot to you, protecting it with home insurance is a no-brainer.

Buy home insurance in Oakland Park, FL 

Looking for a comprehensive home insurance plan in Oakland Park, FL? Please get in touch with eAdvisorPro Property & Casualty LLC for an affordable quote.