If you own a business in the greater Boca Raton, FL area, turn to the Coastal Premier Insurance Group team for all your commercial insurance needs. We are here to help local businesses protect their hard work and dedication!

Why umbrella insurance is essential for many companies

As a company grows, its insurance needs will likely change. And, the more successful and active a business is, the more likely liability protection needs will increase. An umbrella policy is an intelligent addition to a growing business’s insurance portfolio because it provides that additional liability protection. 

A primary policy has limits on the amount of liability coverage that they offer. This means that once that threshold is met, the company can be directly liable in case of lawsuits or other damages. And depending on the organizational structure of the firm, owners can, in some cases, be held personally responsible.

Growing companies and their leadership teams have a lot to focus on. Reviewing commercial insurance policies can sometimes fall near the bottom of the priority list. While this is understandable behavior, it can put the company at risk of financial liability.

Proactively obtaining an umbrella policy is an effective way to ensure the company is protected. Umbrella insurance is an effective tool in every business’s toolbox. Now is a great time to learn more.

We look forward to working with you.

Coastal Premier Insurance Group is here to serve the Boca Raton, FL business community’s insurance needs. If it’s time to review your company’s insurance to ensure that it provides all the coverage you need, we can help. Contact our office today and schedule a consultation.

Commercial insurance is a type of insurance that is designed to protect businesses from financial losses. There are many different commercial insurance types, each one serving a different purpose. In this blog post, we’ll discuss the different types of commercial insurance and explain what they cover.

General Liability Insurance

General liability insurance covers your business if you are sued for negligence. For example, say you own a restaurant and someone slips and falls on your property. If they sue you for negligence, your general liability insurance will cover the costs of their medical bills and any legal fees you incur.

Property Insurance

This type of insurance covers your business property in the event of damage or theft. For example, let’s say you own a retail store, and a storm damages your storefront. If you have property insurance from a reputable company such as Coastal Premier Insurance Group, it’ll cover the cost of repairs.

Commercial Auto Insurance

This type of insurance covers your business vehicles in the event of an accident. For example, let’s say you own a delivery company, and one of your drivers gets into an accident. Your commercial auto insurance will cover the cost of repairs to the vehicle, as well as any medical bills for the driver.

Workers’ Compensation Insurance

This type of insurance covers your employees if they’re injured on the job. For example, let’s say you own a construction company and one of your workers falls off a ladder and breaks their leg. Your workers’ compensation insurance will cover their medical bills and lost wages.

Professional Liability Insurance

This type of insurance covers your business if you are sued for professional negligence. For example, let’s say you own an accounting firm in Boca Raton, FL, and one of your clients accuses you of errors that cost them money. Your professional liability insurance will cover the costs of your legal defense.

Types of Commercial Insurance

These are just a few of the different types of commercial insurance. When choosing a policy, it’s essential to consider the needs of your business.

If you’re looking for a Boca Raton, FL, commercial insurance policy, Coastal Premier Insurance Group can help. We offer a variety of policies that can be customized to meet the needs of your business. Contact us today to get started.

If you’re looking for security for your family’s future and you’re in the Boca Raton, FL area, Coastal Premier Insurance Group can help. We understand that you may be looking for coverage and policies that can give you value and peace of mind. With life insurance, you want to be sure you’ve covered everything important to you and everything that will keep your family secure if you pass away. That can help you feel more confident and reduce the worries your loved ones have, as well.

There’s no reason to settle for less than that when you have people who can help you get the policies you need. By working with a trusted insurance agent, you can ask any questions about your type and level of insurance coverage. Our knowledgeable agents are here to give you information about all policy options, allowing you to make the right choice for your needs. Then we can work with you on adjusting your policy if your circumstances change in the future.

That’s an excellent way to ensure you have the coverage and protection you need and the support your family will be looking for if they face a difficult time. Insurance agents are committed to providing help and information to anyone looking for the right policy. All types of policies are important, but life policies are especially significant since they create protection for the loved ones of the person who owns the policy.

Contact us at Coastal Premier Insurance Group today if you’re in the Boca Raton, FL area and looking for a life insurance policy. We can give you the knowledge and information you’re looking for, so you can choose a policy with confidence and protect the future of your loved ones.

Those looking for an exciting professional opportunity in Florida should consider opening their own business. Businesses that operate in the Boca Raton, FL area need to ensure that they continue to have the proper insurance to maximize these opportunities. There are various situations when a business needs to have a commercial insurance policy in this area. 

Businesses Need Insurance to Protect Organization

A primary reason a business will need to have commercial coverage when in this part of Florida is to protect their organization adequately. Any business today needs to ensure they are protected against the various risks they face daily. Having the right insurance plan can help protect a company’s assets and provide liability support. 

Insurance is an Obligation

Businesses also need to get insurance as it is likely an obligation. If you invest in your own business, you will eventually need to raise capital, take out a loan, lease business space, or enter into contracts with vendors and customers. In practically any situation, you will have to maintain the right commercial insurance to stay in good standing with these requirements. Investing in a quality plan will help you remain in compliance. 

Having a proper commercial insurance plan in the Boca Raton, FL area is very beneficial. When you are ready to start looking for a new insurance plan in this area, it would be good to begin your search by calling the professionals with the Coastal Premier Insurance Group. There are a lot of choices that need to be made when looking for this coverage, and Coastal Premier Insurance Group can help you assess your options and choose an ideal plan.

Many people may be unaware or unclear of what umbrella insurance is and what it does. However, its benefits may create peace of mind if it makes sense to invest in this form of insurance. Our team at Coastal Premier Insurance Group is committed to helping Boca Raton, FL residents understand this insurance and its benefits. 

What is Umbrella Insurance?
Umbrella insurance is simply a second insurance policy designed to provide coverage once the maximum limits have been exhausted on your primary insurance policy. It’s designed to provide liability and protection against unforeseen events, like property damage, injury, and even legal situations.

Who Should Invest in Umbrella Insurance?
If you have significant assets that you want to protect, umbrella insurance may be a good option for you. What are "significant assets" you may ask? Significant assets or substantial net worth can be defined as assets that exceed the limits of your homeowners’ and auto insurance policies. Once the limits of your primary insurance policy have been met/maximized, umbrella insurance kicks in to cover anything that’s not covered by a primary insurance policy.

Umbrella insurance is designed to provide coverage in excess of a million dollars or more as protection against expensive claims or lawsuits if you have a particularly high net worth and/or many assets. It isn’t a legal requirement, but an option to invest in a secondary insurance policy designed to meet the needs of your assets and net worth. If you have a lot of assets, a high net worth, or a high chance of being sued, umbrella insurance might be a wise investment. If you have questions about umbrella insurance and think you could benefit from this type of insurance, give us a call. We’re standing by. 

Umbrella insurance is a type of liability coverage that can protect you from financial ruin if you are sued and lose. It provides additional protection beyond what your home and car insurance provides, such as injuries to other people or damage to their property. However, it’s important to know how umbrella insurance works before deciding if this coverage is right for you.

An umbrella insurance policy kicks in when the damages from a single incident exceed the limits of your other policies. For example, if you are sued for $1 million after an auto accident, and your home and car insurance only provide coverage up to $500,000 combined, your umbrella insurance policy would pay the remaining $500,000.

Umbrella insurance can also protect you in situations not covered by your other policies. For example, if you are accused of libel or slander, your umbrella insurance policy may cover legal expenses. However, note that most umbrella insurance policies do not cover intentional acts.

While it may seem unnecessary to have an additional policy, adding an umbrella insurance policy can be a wise financial move. Suppose you are sued for damages exceeding your other policies’ limits. In that case, you could face the prospect of losing your home or car while continuing to pay expensive premiums on your insurance policies. Umbrella insurance can prevent this from happening and protect you from financial ruin.

When choosing an umbrella insurance policy, it is important to know the policy’s limits and what is and is not covered. Be sure to read the fine print to know exactly what you are buying. Also, be sure to shop around for the best rates. You may be surprised at how affordable umbrella insurance can be.

If you are looking to add an umbrella insurance policy to your insurance portfolio, contact Coastal Premier Insurance Group in Boca Raton, FL, today. We would be happy to discuss your options and help you find the right coverage.

As a business in Boca Raton, FL, you know the importance of having business insurance. However, you may not know the importance of supplemental insurance in the form of business interruption insurance. In fact, you may have never heard of it if you are a new business. This type of supplement coverage can be invaluable to your business in the event that your business must close due to unforeseen circumstances. The team here at Coastal Premier Insurance Group wants to ensure you know more about business interruption insurance so you can make an informed business decision about this type of policy.

What It Covers

Although specific coverage will vary from one insurance company to the next, there are basic things that will be covered. For instance, in general, you can expect any profit your Boca Raton business earns to be compensated while your doors are closed. The funds you receive can be used to cover payroll costs as well until you are up and running again. In addition, any loan payments, taxes, and other business-related expenses will be covered.

What It Doesn’t Cover

Like any other insurance policy, business interruption insurance will not cover certain types of losses. For instance, as a general rule, your policy will not pay out if you are only partially shut down. In addition, if you are unable to provide proof of income, you likely won’t be compensated. Finally, the policy will only pay out for covered events outlined in your policy.

Who Needs It?

Ultimately, any small business needs to have a business interruption insurance policy, as it can offer much-needed supplemental protection in the event of an unforeseen catastrophe. Usually, this type of policy can be added to your current property insurance.

You never know what could happen to your Boca Raton, FL business, so reach out to us at Coastal Premier Insurance Group and let us help you ensure your business has the protection it needs when you need it most.

If you have primary coverage such as auto, home or boat insurance, chances are you have come across the term umbrella insurance. But with these existing policies, why would you get extra coverage? Unlike other safeguards, umbrella insurance is designed to give you protection when unforeseen events lead to damage exceeding your primary policy. If you reside within Boca Raton, FL, this coverage will prove essential in protecting you from unexpected emergencies. Below, Coastal Premier Insurance Group discusses whether umbrella insurance is worth it.

Protects You Against Bodily Injury Liability

Suppose you cause an accident that results in expenses exceeding your auto insurance. In that case, umbrella insurance kicks in to cover the ensuing costs. These will often include injuries to other parties, helping you cover any 3^rd party medical expenses. Your visitors can also get injured while visiting your home, resulting in significant hospital bills. If your home insurance can no longer cover these expenses, umbrella coverage will come in handy in helping you pay for these costs.

Covers Your Property Damage Costs

Just like bodily injury liability, your auto insurance will also likely get exhausted when you cause considerable damage to other parties’ property. If this happens, umbrella insurance sets in to pay for the repair or replacement expenses. If your guests’ property also gets damaged during a visit to your home, umbrella insurance will help you cover the costs needed to fix the damage caused.

Protects You From Other Personal Liability Claims

Some personal liability claims may not be covered by the underlying covers, requiring you to get extra coverage. Umbrella insurance helps you cover these claims, including libel, slander, malicious prosecution, and false arrest. If you are also sued for mental anguish, your umbrella policy ensures that your legal fees and damages are paid for. Individuals with rental units are also covered by this policy, helping you pay for any bodily injury sustained by visitors.

The above safeguards prove that umbrella insurance is a worthy cover to get, helping you keep your assets secure when you encounter emergencies. Consider giving Coastal Premier Insurance Group a call today to get umbrella insurance designed with Boca Raton, FL protection mechanisms in mind.

If you are a business owner in Boca Raton, FL, you already understand the importance of having business insurance. In case you forgot, commercial insurance is your safety net that protects your business financially from a loss. But should you keep updating your insurance coverage? Well, keep reading for more insights.

Every business has objectives. Some goals include increasing end-of-year profits, have a bigger office space, and expanding the workforce. However, as you grow, you need to grow with your commercial insurance. To that end, changes in your company should be reflected in your business insurance policy to keep you fully covered. We at Coastal Premier Insurance Group have prepared instances that signal it’s time to update your policy.

Change of operating location 

Moving to a new location? Your insurer should know when your business’ address change. If you fail to inform your insurer, you risk not covering your new building or any equipment stored inside. 

Change of employees

Your workers’ comp insurance policy is calculated per employee headcount. If you hire more employees, you must include them in your commercial insurance. Similarly, if some employees exit, you should update your policy. This way, you won’t underpay or overpay your premiums. 

Expanding your product portfolio

Business owners know the importance of having insurance for their products. Any defect in your products could cause injury, loss, or even death which could attract lawsuits. To that end, ensure you protect all your products in the event of a claim against your company. If you introduce a new product, you should also include it in your insurance policy. 

Commercial insurance in Boca Raton, FL 

The above list isn’t exhaustive of why you need to update your commercial insurance. For more information, please contact Coastal Premier Insurance Group. Let’s take care of your insurance needs as you focus on your business.

When you have an auto policy and a home policy, you may be a good fit for umbrella insurance. This extra coverage adds to the liability insurance you have included in your existing insurance policies. If you are interested in supplementing your liability coverage, contact us at Coastal Premier Insurance Group in Boca Raton, FL.

Liability Coverage

The liability coverage that you have with your auto and home policies is an important part of those policies. This is the portion that pays for accidents that you are found liable for. After an accident, whether it is at your home or in your vehicle, there may be a number of bills for medical care and/or for damage to property. These can be extremely expensive bills, but with liability coverage in place, those bills are taken care of. However, you may not have enough liability coverage from just your auto and home policies. That’s why so many people choose to purchase umbrella insurance. 

Umbrella Insurance

After an accident, your auto or home policy will pay for the resulting bills. However, they have a maximum amount they will pay, and this is often quite low. It may not be enough to pay for a serious incident. When you get umbrella insurance, you get liability insurance that is added to what you have in your auto and home policies. The umbrella policy adds an enormous amount to your liability coverage so that you won’t be paying for those medical and property bills alone. It works alongside those policies. When they max out, the umbrella policy comes in and pays the overage.

Get an Umbrella Policy

If you want more liability coverage so that you are better protected, call us at Coastal Premier Insurance Group in Boca Raton, FL to find out more about umbrella policies.