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. 

Common Myths About Umbrella Insurance You Should Know

While insurance is generally a complicated topic, umbrella insurance seems to be more complex as many people do not understand why they need it. That’s why there are so many myths and misconceptions about umbrella insurance in Boca Raton, FL.  However, you no longer need to be in the dark as there are many articles available explaining all about the policy. At Coastal Premier Insurance Group, we are positive that the chances are excellent that you need an umbrella policy to be truly secured. But before then, here are the most common myths you should know.

Myth#1. Umbrella Insurance is For the Wealthy

Wrong. No one is immune to lawsuits, and they can knock at your doorstep anytime. Umbrella insurance goes above and beyond to cover specific areas not covered by your home or auto insurance, such as slander and libel.  Whether you are wealthy or not, the legal fees can easily dent your wallet or render you broke if you are not well-prepared.

Myth #2. You Don’t Need Umbrella Insurance If You Have Home Insurance

Home insurance does a great job protecting you if you’re sued, but what if your home insurance is not adequate to cover all the legal fees? You need an extra layer of protection, especially if you have teenage children and pets.

Myth# 3. Umbrella Insurance is Too Expensive

This is probably the fattest lie anyone would tell you, especially if you already have a home, auto, boat and motorcycle insurance. What you pay typically depends on your own unique needs and agreement with your insurance company. There are factors that play a critical role in price determination, such as the number of homes, cars, business and recreational vehicles you own.

Not sure about what amount of umbrella insurance to buy in Boca Raton, FL? Coastal Premier Insurance Group can help provide advice and guide you through the purchase process. Call us today.

The Boca Raton, FL area has continued to be one of the best places in the country to start a business. Not only is there a consistent population base, but there is also a strong economy and plenty of regular visitors. If you would like to start a business here, getting the right insurance is very important. You should get a commercial insurance plan for a few reasons. 

Insurance Protects Business

The primary reason to get insurance for your company is that it will protect your business. A commercial insurance plan offers several forms of valuable coverage. This includes coverage that can be used to repair or replace your business assets or to mitigate liability risk. Ultimately, this can help to keep your business solvent in a variety of challenging situations that would otherwise result in a significant loss. 

Insurance Improves Business Reputation

Depending on the field that your business is in, having evidence of a quality insurance plan is very important to win business and grow. Companies that are properly insured will be more attractive to potential customers and having this protection can improve the overall reputation of your organization. This could help you win more business and improve your company’s overall revenue stream and profitability. 

There are clearly a lot of reasons why you should get a commercial insurance plan for your Boca Raton, FL business. If you would like to learn more about the benefits of this insurance coverage, you should call the team with the Coastal Premier Insurance Group. There are a lot of important factors to consider when picking commercial insurance and Coastal Premier Insurance Group can make it easier for you. They can offer you the support you need to build and choose your next plan. 

You’ve worked hard to get where you are in life. However, sometimes tragic accidents occur and it is very important to be prepared for the unexpected. That’s where having an umbrella policy can be a very good idea. Our Coastal Premier Insurance Group team has put together this brief guide to help you understand why you need to have umbrella insurance in Boca Raton, FL.

What is Umbrella Insurance?

Umbrella insurance is simply an extension of the liability coverage you have on your other policies. This includes both your home insurance and your auto insurance. If you’re involved in a serious accident or someone is greatly injured while visiting your home, an umbrella policy acts as a secondary extension of your policy.

For example, let’s say you have a $500,000 liability limit on your Florida homeowners insurance policy. Two dear friends come to your home for dinner and are both killed in a serious accident. The liability coverage on your home policy would likely payout that full $500,000, but the family of the couple is suing for more. Your umbrella policy could help take care of their claim and any associated legal fees.

Who Needs Umbrella Insurance?

Those who need umbrella insurance the most are anyone with an extended amount of risk or a fair asset value. This includes those who own businesses, have teenage drivers in the household, or even retirees who own multiple pieces of real estate. Basically, if you have a financial situation that someone could go after in court after a serious accident, you should have an umbrella policy.

Ready to learn how umbrella insurance can help protect you financially? Please contact our team at Coastal Premier Insurance Group in Boca Raton, FL for a no-obligation quote.

People that live in and around Boca Raton, FL area always going to have some type of personal liability risk. While some of these risks can be covered with auto or home insurance plans, others will not be covered by these policies. To ensure that you are properly covered, you should get an umbrella insurance plan. There are several situations when having an umbrella insurance plan would be a good idea for someone. 

When Wanting Coverage for Significant Claims

A reason why someone here may want to have an umbrella insurance plan is when they want to have coverage for the most significant claims. If you are involved in an accident and are found liable, there is always a chance that the actual damages will be in excess of your policy limit. If this does happen to you, it will be important that you have the appropriate coverage in place. An umbrella insurance plan will offer the additional coverage you need to ensure protection.

When Wanting Peace of Mind

You will also want to get an umbrella policy due to the peace of mind that it can provide. When you get an umbrella policy you will know that you have coverage against significant claims and if you are sued for a claim that is not covered under your base policy. This can provide you with great peace of mind and comfort knowing that you are protected against unpredictable situations. 

There are a lot of reasons why you should get an umbrella policy in the Boca Raton, FL area. As you are looking for coverage, it would be wise to call Coastal Premier Insurance Group. The team with Coastal Premier Insurance Group can help you choose a plan that meets your needs and gives you the necessary protection.

Anyone that is in Boca Raton, FL needs to spend time thinking about their different insurance needs. One type of insurance that people in this area of Florida could benefit from is umbrella insurance. This is a unique form of insurance that can offer you additional personal liability insurance coverage. There are a few different situations when someone here would benefit from getting this type of coverage.

When Wanting More Coverage

One situation when you would benefit from getting umbrella insurance is when you want more personal liability coverage. An umbrella insurance policy will normally kick in when you have been involved in an accident that has damages that exceed your policy limits. If this is the case for you and you have umbrella insurance, you will have additional protection and coverage through this policy, which could offset the risk that you would need to come out of pocket for damages. 

When Needing Broader Coverage

You should also get an umbrella insurance policy when you want to have broader coverage. With umbrella insurance, you can get protection and coverage against a very broad set of risks. If you have an umbrella insurance policy, it will give you far more protection than you’d receive through a home or auto policy. 

There are a variety of scenarios when having umbrella coverage is a good idea. If you are in Boca Raton, FL and are looking for this insurance, you could benefit greatly by calling the Coastal Premier Insurance Group. The insurance team at the Coastal Premier Insurance Group understands the importance of having a proper umbrella policy. The team can help you better assess your needs and get you into a new policy that will provide you with the best type and level of coverage. 

Whether you own a two hundred person company or a small business with just a few employees, it is important to understand what specific insurance requirements apply to you. Specific to Florida, business owners need to be aware of two types of insurance – workers’ compensation and commercial auto coverage. Starting with workers’ compensation insurance, any business that employees four or more employees – regardless of whether they are full-time or part-time – is legally required to have workers’ compensation insurance. Keep in mind that if you operate a construction-related business then even just one employee means that you must offer workers’ compensation insurance. In short, workers’ compensation insurance helps pay for costly medical bills associated with an employee’s workplace injury or illness. As mentioned earlier, in addition to workers’ compensation insurance, any business-owned vehicles are required to be covered under a commercial auto insurance policy. While it is not required, if you ask employees to utilize their personal vehicles for any business-related function such as doing an estimate or delivering an item then it is strongly recommended that those vehicles be covered under a hired and non-owned auto policy because traditional insurance policies for personal vehicles are highly likely to exclude business use. 

Armed with this wealth of information, Florida business owners are now better prepared to support their employees while ensuring peace of mind for their livelihoods. At Coastal Premier Insurance Group in Boca Raton, FL, our talented team of insurance professionals can assist in customizing the perfect commercial insurance policy for your needs. While workers’ compensation and commercial auto insurance are state-mandated requirements, we can walk you through additional coverages that are available and may make sense for specific businesses. Give us a call today to schedule a no-obligation consultation. 

There are horrific stories about people who had insurance, but they, unfortunately, encountered a peril that exceeded their coverage limit. If they would have gotten umbrella insurance, they would not have encountered those devastating losses with inadequate insurance coverage.

Umbrella insurance is a wonderful thing to have. And while it is understandable that umbrella insurance is an extra layer of coverage, you may still wonder do you really need it. There are key factors that may indicate your need for umbrella insurance, and they are as follows: 

•  Most consumers in their 20s won’t need umbrella insurance

Unless you have gotten a significant amount of assets/wealth in your 20s, you may not need that extra coverage. 

•  You may need it if you have a business. 

For your protection against lawsuits or other catastrophes, it may be in your best interest to get this supplemental insurance in addition to business insurance. 

•  You may be building wealth and assets.

There are limitations on home, auto, and commercial insurance. So, what if the unthinkable occurs and everything you work for has come to shambles? Don’t allow you and your loved ones to be in this predicament. In such cases, it will behoove you to get that extra layer of coverage. 

•  You have gotten married/started a family. 

To ensure you and your loved ones are properly covered, you may need umbrella insurance. With the possibility of outlandish medical bills for your children participating in sports, for instance, to a possible theft in your house/business, don’t get caught off guard!

Umbrella insurance is very important when it comes to these situations and more. For more information about umbrella insurance, contact a trusted, licensed, and experienced insurance company today.

Coastal Premier Insurance Group exceeds these qualifications. Located in Boca Raton, FL, Coastal Premier Group record speaks for itself. The people and companies in Boca Raton, FL and surrounding areas love and trust Coastal Premier Insurance Group, and you can too. So, contact them today!