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Coastal Premier Insurance Group, Inc.

902 Clint Moore Rd. Suite 132
Boca Raton, FL 33487

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When Is It Time To Change Your Home Insurance

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Your home is likely one of your most valuable possessions. It’s thus important to make sure you have the right home insurance in case something happens to it. But when is it time to change your policy? Coastal Premier Insurance Group in Boca Raton, FL offers you this guide on a few signs that it might be time for a change. 

When Is It Time To Change Your Home Insurance

1. If You’ve Made Significant Improvements or Additions to Your Home

If you’ve recently added a new room, installed a pool, or made other major changes to your home, you may need to update your policy. This is because such changes can increase the value of your home, therefore, the amount of coverage you need. If you don’t update your policy, you could end up being underinsured and having to pay out of pocket if something happens to your home.

2. If Your Policy Coverage Lapses or Is Cancelled

When your home insurance policy lapses or is canceled, you may need to find a new policy. If you miss a payment or your insurer decides to non-renew your policy, this can happen. Non-renewal can occur for various reasons, such as making too many claims or having a high risk of making a future claim.

3. When You Purchase Big-Ticket Items

Your home insurance policy may not provide enough coverage to protect your expensive belongings, such as jewelry or high-end electronics. So, if you purchase big-ticket items, it’s good to work with an agent to find a new policy that can offer better protection for those items.

4. When You Add a Security System

Having a security system can reduce your risk of burglary or vandalism, so it may be worth looking into upgrading your home insurance coverage to reflect this. Many insurers offer discounts for homes with security systems, so this is definitely something you’ll want to consider when evaluating your policy options.

Coastal Premier Insurance Group in Boca Raton, FL can help you find the right home insurance policy for your needs. If you’re unsure whether it’s time to change your policy, our agents can review your coverage and make recommendations. Give us a call today to get started!

 

Who needs to have a commercial insurance plan in Florida?

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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.

Who should invest in umbrella insurance?

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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. 

How Does Umbrella Insurance Work?

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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.

5 Common Home Insurance Exclusions

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Buying a home is thrilling. But it does not come easy. You probably spent all your life savings owning it. That said, the best thing you can do is to protect it with home insurance in case of an unfortunate event. But before you purchase that policy, you must know what it entails. What does it cover? What are the exclusions?  

What many people don’t know is that your home insurance does not cover all the perils. And knowing about home insurance exclusions is essential, especially when filing a claim. Coastal Premier Insurance Group shares the standard exclusions of home insurance:

  • Earth movements: A standard home insurance does not cover earth movements like sinkholes, earthquakes, landslides, and mudslides. In most cases, you will need to purchase separate insurance to cover these earth movements.
  • Water damage: Water damage such as flood is not included in your home insurance. Other water damages excluded in your home insurance are sewer drains or systems and overflows from sump pimp. Luckily, you can consider endorsements or riders to cover your home against these risks that are more common than you think.
  • Mold and pest damage: Mold damage caused by home defects, floods, or leaks is also excluded from your home insurance. Similarly, damage by pests isn’t covered by your typical home insurance. The good news is that optimal maintenance for your home can keep mold and pests away from your premises.
  • Wind damage: A standard home insurance does not cover wind damage like hurricanes. If you are in a zone prone to hurricanes, make sure you purchase additional coverage.

Home insurance in Boca Raton, FL

Before purchasing home insurance, make sure you read through the policy to understand what’s covered and not covered to avoid disappointment during a claim. For all your home insurance needs, please make Coastal Premier Insurance Group your preferred insurance agent.

Why Minimum Automobile Insurance Is Not Enough

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Many people want to save money in their everyday lives. Some are worth it, while others aren’t. One of these things includes your car insurance. 

Though you may want to buy the minimum amount of car insurance, here are some reasons why it isn’t the best idea. 

Liability isn’t enough. Most states only require liability insurance. That means that it will only pay for medical expenses. It won’t help you replace your car if it is totaled. It may not even help you with your own medical expenses. 

Your deductible may be very high. In order to have cheap insurance, you may have a high deductible. This means that you may have to pay a few thousand dollars out of pocket, before the insurance company pays a single cent. 

Your insurance company may argue over claims.  When you choose a cheap plan, you may notice that your insurance company fights you over every claim. They aren’t going to want to shell out a lot of money, so they might reject your claim. 

Though you may want to save money, your car insurance shouldn’t be a place where you skimp. It is much better to get a plan that is over the minimum. Otherwise, you are going to pay a lot of money out of pocket, both for any repairs that you may need, and your deductible. You may only have liability, which means that you have to pay for everything else!  

If you are in Florida, you should contact us today at Coastal Premier Insurance Group to make sure that you have enough insurance to protect your family. 

Is having a home insurance plan in Florida a good idea?

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Those that are in the Boca Raton, FL area will find that owning a home can be a great long-term investment and housing option. When you want to own a property in this part of Florida, getting the right insurance protection will be very helpful. There are various advantages that come with home insurance that make getting it a good investment for anyone.

Coverage Protects Your Dwelling

A primary advantage received when obtaining a home insurance plan in Florida is that it can protect your dwelling. Those who choose to buy a home are going to find that they will make a very significant investment that they will want to have paid off well into the future. If you get home insurance protection, you can have the support needed to repair your property following a variety of situations that could otherwise result in a loss.

Coverage Mitigates Liability Risk

You should also obtain home insurance coverage to mitigate your liability risk. There are a lot of risks that can come with owning a home, including the risk that someone can be injured while on your property. As you could be held responsible for damages in these situations, getting the proper insurance is a good idea. Having this necessary insurance support in place will give any protection needed to mitigate this risk. 

As you are looking to get a new home insurance plan in the Boca Raton, FL area, it would be wise to call the Coastal Premier Insurance Group. If you choose to call the Coastal Premier Insurance Group, you can learn a lot about the different options at your disposal. This can help give you any support that is needed to build an insurance plan that will properly protect you and your home. 

What You Should Know About Business Interruption Insurance

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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.

Is Umbrella Insurance Worth It?

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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 3rd 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.

Finding Home Insurance in Boca Raton, FL

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If you live in the Boca Raton, FL area, your friends at Coastal Premier Insurance Group want to remind you that there’s no time like the present to get home insurance. As we’ve all learned from the past, you never know when a flood from a hurricane, wind damage, tornadoes, hail, or even sink holes can do their number on your home, when you least expect it.

By planning ahead, you can protect your family from these types of events long before they happen. Simply taking the time now to assess your property, find out the real value of your home, then visit with the professionals at Coastal Premier Insurance Group to insure your home’s value.

"Hindsight is 20/20" it is often said. And it’s too late to fix it if you wait too long to insure your home, your most precious investment.

Is Boca Raton, FL on a Flood Plain?

This question always comes up when people are considering whether or not they should carry flood insurance. But if you are in a coastal town, believe me, you’re in a flood plain, even if your town is not officially registered as such.

About Boca Raton

Situated in Florida’s southeastern coast, Boca Raton is an oceanfront area featuring tourist attractions such as Red Reef Park and the Museum of Art, as well as a sculpture garden, and the famous Gumbo Limbo Nature Center.

When hurricanes, floods, and unexpected weather hits, it’s important to know that your home is protected. Finding the right home insurance can be confusing. But at Coastal Premier Insurance Group, we make it easier. 

Give us a call today and sleep better when you hear "tropical storm warning" on your radio tomorrow!