Not all businesses require commercial insurance. That’s a little tidbit of honesty from Coastal Premier Insurance Group. However, some Boca Raton, FL, online businesses do need commercial insurance. You would need a commercial policy if your business handles other people’s personal property or sells products for delivery (not digital goods).

Defining Handles Other People’s Personal Property

If you offer restoration or cleaning of small items, such as jewelry or watches, your customers may mail you their items. That’s their personal property, and you need a commercial policy that covers those materials for you in case of theft, accidental damage, or a disaster.

Selling Tangible Products for Delivery

When you directly sell items such as shirts, mugs, caftans, books, etc., you need to cover your inventory with business inventory insurance. You don’t need this if you operate a drop shipping sales operation, but you do if you store the inventory at your home or a storage unit. Also, if you do store your own inventory, always purchase US Postal insurance for the packages. No, we don’t get a cut of their sales, but we do want your business to succeed.

When an Online Business Needs Liability Insurance

Now that essentially any business can operate online to some extent, more online businesses need liability coverage. If you operate an online consultancy as an attorney, doctor, nurse, or nurse practitioner, you’ll need liability coverage even though people don’t visit your physical location for meetings. Instead of protecting you from lawsuits due to trip and fall accidents, the policy offers protection from mistakes that cost the consumer money, health, or both.

Contact Coastal Premier Insurance Today

Contact Coastal Premier Insurance Group today to obtain the right insurance for your Boca Raton, FL-based online business. Let us help protect your business investment.

There’s a lot of content floating around about umbrella insurance, and not much of it is easy to understand. Here at the Coastal Premier Insurance Group, we’ve taken the time to create a detailed and easy-to-understand definition of umbrella insurance. You can use this definition to stay calm and cool as you learn about this popular type of policy in Boca Raton, FL.

Umbrella Insurance Definition

Sometimes, the easiest way to understand the definition of something is to ask a question about it. For example, what kind of personal liability coverage protects the policyholder from claims that exceed the standard limits of their existing coverage?

Answer: Umbrella insurance coverage. 

How to own an umbrella policy?

You cannot purchase umbrella insurance without existing coverage already in place. Let’s say you want to buy umbrella coverage for your home. You can only do so if you already have homeowner’s insurance and you need coverage that extends beyond what is found in the existing policy. Umbrella insurance comes in many types, including umbrella auto coverage, umbrella homeowner’s policies, and even umbrella watercraft insurance.

Who is a good candidate for umbrella insurance?

People who have a lot of assets, have access to things that could be dangerous or do things that make them more likely to be sued are good candidates for umbrella insurance. This includes homeowners with trampolines or swimming pools on their property. If you partake in any of the following activities, you’re a solid candidate for an umbrella policy:

• Managing property
• Coaching athletes
• Volunteering
• Playing a contact sport
• Regularly reviewing brands and products

Contact the Coastal Premier Insurance Group today to learn more about umbrella insurance and whether you’d benefit from coverage. The firm is ready to assist you with all of your Boca Raton, FL insurance needs.

If you have a business, it is important to carry proper commercial insurance. Finding the right policy to protect your company, yourself, and your employees might be complicated, so we have put together a list of questions you should ask before getting a commercial insurance policy.

• Do I need commercial insurance? Many businesses remain uninsured because business owners do not want to spend extra money on business insurance. However, the answer to this question is yes, you need business insurance. This insurance is a guarantee that your business is covered and protected. 
• How much do I have to pay for insurance? As a business owner, you probably plan your budget and want to know how much commercial insurance would cost. The cost of business insurance depends on certain factors, including the specifics of the policy, your industry, and the insurance company. 
• How much coverage do I need? There are many types of commercial insurance, including workers’ compensation, commercial property insurance, cyber liability, commercial auto insurance, and more. It is essential not to overinsure your business because it can be quite costly. Underinsuring a business is also a common problem. It is recommended to talk to an experienced insurance agent, who will recommend you the proper coverage. 

Coastal Premier Insurance Group – Reliable and Trustworthy Insurance Company in Boca Raton, FL

If you own a business in sunny Florida and are looking for commercial insurance to protect it, Coastal Premier Insurance Group is ready to assist you. Our company specializes in different types of insurance, including business insurance. Contact us to help you get the perfect insurance coverage according to your business needs and budget. 

Umbrella insurance is never a legal requirement for Boca Raton, FL residents, but many purchase these policies to guard against financial loss. Your Coastal Premier Insurance Group provider can provide specifics on what would be covered.

Umbrella insurance is designed to work in tandem with your other types of indemnification. Limits are typically higher, and these will begin to cover costs once your primary coverage is exhausted. The scope of named perils can sometimes be broader as well. 

You can purchase umbrella insurance on your automobile so that you and others will be covered for physical injuries and property damage in a wreck. Some people opt for this protection, as collisions can result in lawsuits or exorbitant medical bills. 

Business owners can decide to buy commercial umbrella insurance for various categories. You can obtain coverage that extends to your buildings and the property, as many companies store expensive machinery, inventory, and raw materials in their warehouses. Slander, errors and omissions, libel, and advertising mistakes, like typos and misleading information, can also be included. 

You can also add an umbrella policy to your homeowner’s insurance, which will add a more robust cap when dealing with incidents, such as injuries to guests and their medical bills or lawsuits resulting from negligence. Additionally, repairs to your house should be taken care of, and this is particularly important if your dwelling is costly or if you have possessions that are rare or difficult to replace. 

Coastal Premier Insurance Group Can Help

Visit our website, or stop by the office in person. You can also call and speak to our knowledgeable agents for more information, and we provide excellent insurance resources for those living in the Boca Raton, FL area. 

If you own a business in Florida, it’s essential to protect that business with suitable insurance. Some of these insurance types are mandated for certain companies in the state, while others can be beneficial but aren’t required. If you want to keep your business protected and operating within the law, call us at Coastal Premier Insurance Group in Boca Raton, FL.

Workers’ Compensation Insurance 

This is a significant type of insurance that some Florida businesses are required to have. This insurance pays for the medical bills of employees who get injured on the job. This insurance is critical to have because medical bills can cost so much. In Florida, this insurance also pays partial wages to employees as they recover. When you have a business within the state that has at least four employees, this insurance is required for you. Those four employees can be part-time or full-time. An exception is construction businesses. They must have this insurance type for all employees, no matter how many. Even if this insurance isn’t required for you because you have fewer than four employees, it’s a good idea to get it to protect yourself. 

Commercial Auto Insurance

Businesses in Florida also have to have commercial auto insurance when they own a vehicle. This insurance must have two types of coverage in the policy. This includes property damage liability and personal injury protection. The amount of the required coverage is so low. However, it’s a good idea to raise the amount you get for better protection for your business. If you own a trucking company, you may have other insurance requirements. 

Get Your Commercial Insurance Coverage

Make sure your Florida business has the protection it needs. Call us at Coastal Premier Insurance Group in Boca Raton, FL.

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.