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.

Why do I need auto insurance in Oakland Park?

People that are in the Oakland Park, FL area will always find that it can be a great place to live. To maximize your experience here, getting a car is a good idea. Along with a car, you also need to get the right insurance. You will need to have an auto insurance plan for a few reasons. 

Coverage is a Requirement for Drivers

A key reason that you should get an auto insurance plan is that it is a requirement for drivers. If you want to drive a car legally in Florida, you need to at least carry liability insurance. Further, if you have decided to take out a loan when buying a car, you will need to obtain a full plan to meet your lender’s standards. 

Protect Your Car

Even if there were no auto insurance requirements, you will still want to have it as it is the best way to protect your vehicle. if you choose to buy a car, you will want to be able to use and enjoy it for a long time. A great way you can do this is by getting an auto coverage plan with collision and comprehensive coverage, which will protect against many forms of loss. 

If you are in the Oakland Park, FL area, you clearly will need to have an auto insurance plan. If you are evaluating your options here, it would be helpful to spend time with eAdvisorPro Property & Casualty LLC. There are various choices to make when building a plan and eAdvisorPro Property & Casualty LLC can help you obtain the right coverage. The team here is going to provide any support you need to assess your options and build a plan that will protect your car and keep you in full compliance. 

Three Things to Consider When Buying Commercial Insurance

From locating a property for your business to investing in equipment and products, starting a brand-new business can be quite the endeavor that you take on. Although your plate may be full at the moment, you won’t want to overlook the importance of investing in commercial insurance. There are several different things that Oakland Park, FL business owners should take into consideration when purchasing commercial insurance, and the team at eAdvisorPro Property & Casualty LLC have taken the liberty of putting today a brief guide for you.

Legal Requirements

Depending on your exact location, you may be bound by law to obtain a specified amount of insurance coverage. This is specifically true for workers’ compensation insurance, as you may be required to obtain this type of coverage if you have a certain number of employees. We can help you determine what type of coverage is required by law for your Florida business.

Products and Services Offered

Whether you are a plumber or a lawyer, small businesses that offer a product, service, or advice to individuals or other businesses will require general liability insurance coverage. This type of coverage offers protection for your clients from financial loss in the event of property damage, third-party injuries, and even advertising-related injuries.

Professional liability insurance can also provide coverage in the event that a lawsuit comes up as a result of oversight, a mistake, or negligence. Product liability coverage should be considered if you sell products or food to consumers, as this will provide protection for you in the event a customer suffers an injury or becomes ill as a result of one of your products.

Insurance Coverage Needs

It can be tempting to select the business insurance policy that has the least expensive premiums in order to save money. After all, owning a business isn’t cheap. However, if you choose a policy that doesn’t offer sufficient coverage for your business, you may find that you’re paying significantly more in the event someone is injured on the premises, you make a mistake that injuries a client, or the property of a customer is damaged. We can help in determining the best amount of insurance coverage needed for your business while staying as close to your budget as possible.

If you’re ready to get commercial insurance for your Oakland Park, FL business, or if you have any questions, give us a call today at eAdvisorPro Property & Casualty LLC so we can help you protect your business from potential risks.

Why You Should Create a Home Inventory

Homeowner’s insurance is not a cut-and-dry matter. Depending on the policy you have, you may not get the coverage you would like for all of your valuables and any other possessions you want to be able to replace or repair. That’s why it’s a good idea to start out with a home inventory when you’re about to get insurance from a company such as eAdvisorPro Property & Casualty LLC of the Oakland Park, FL area. 

What is a home inventory? 

A home inventory is a list that details the items in your home that are of importance. You can back this up with receipts, photos, and video so that you have proof of this property.  It can help when it comes to determining how much insurance coverage you should have in place. 

Reasons for Using a Home Inventory

When you go through your house and put together a home inventory, this will help you remember everything you have that you want to have insurance coverage. This is crucial because many people won’t be able to recall every item in their home while in the agency office. This is something you should do on a regular basis (about six months to a year) to have an update on the property you want to add. 

Another reason this is ideal is that you can save time when you go to file a claim. If there’s been a tornado, fire, or some other event that’s caused damage to your home and its contents, you can feel secure knowing you won’t have to pay out of pocket for replacing or repairing most of it. 

If you’re looking for home insurance in the Oakland Park, FL area, eAdvisorPro Property & Casualty LLC can assist you. Reach out for more information and to get started with this process. 

Do I need auto insurance when my car loan is paid off?

Auto insurance is a requirement when you have an auto loan. Once you are out from under that monthly payment, you may think about how great it would be if you didn’t have to pay for insurance either. It may be a tempting thought, but it is not something that you can do. Like most other states. Florida has mandated insurance coverage that you are required to carry. At eAdvisorPro Property & Casualty LLC in Oakland Park, FL, we take our responsibility seriously to make sure our customers have the coverage that is required. 

In the state of Florida, drivers must have PIP at $10,000  and PDL at $10,000. PIP pays for injuries in an accident no matter who is at fault since Florida is a no-fault state. PDL pays for property damage caused by you or someone else driving your vehicle. 

No matter what else you are considering when it comes to auto insurance, you need to have the basic required amount. Now that you don’t have to maintain the collision and comprehensive coverage, you may think it sounds like a good idea not to keep it. While it is tempting to save money, it isn’t always a good idea. 

While you don’t need to keep your collision and comprehensive coverage, is it really a good idea to allow it to lapse? Not if you use your vehicle every day to maintain the daily activities of your life. Being able to repair or replace your vehicle is a hardship for most people. When you need your vehicle daily, protecting it is vital to your comfort. Only if your vehicle has very little value or you are financially able to replace it should you allow yourself to have basic coverage. 

In Oakland Park, FL, contact eAdvisorPro Property & Casualty LLC for all your auto insurance needs.