Boardwalk Insurance Group | Auto, Home, Commercial, Life and Health Insurance for Residents and Companies in the United States

Archive for May 2011

Insurance for Exotic Cars, Classic Autos & Specialty Vehicles 4.33/5 (86.67%) 3 votes

Are you looking for exotic car insurance for your exotic auto?  Do you own a classic car?  Did you purchase a kit car or other specialty vehicle?  If so, there are some things you should know and consider while searching.

1. Not all auto insurance companies will insure exotic cars, classic cars or specialty cars.  In fact, most do not.

2. There are specialty companies who insure only exotic autos, classic cars and kit cars.

3. There are a few insurance companies which insure not only exotic cars, but also regular vehicles.

4. When you own an exotic car, insurance companies are at greater risk for loss simply due to the possible claim amount in the event that an incident occurs, whether it’s your fault or not.

5. High performance cars also pose issues for insurance companies because claims can occur from driver error, primarily issues with vehicle control.

Whether you have one exotic or a car collection including exotics and classic cars, it’s important you carry the right coverage for you and your vehicles.  If an incident happens, you should have peace of mind in that your vehicle is covered and that you personally are not at risk.

This means you need to carry insurance coverage limits which are appropriate to your particular situation.  How? Let’s start with your liability coverage.  This covers you for claims made by third parties for injuries to individuals or other vehicles.  Most states require a minimum of 25/50/25 coverage.  This means you have $25,000 in coverage for any one person you injure, $50,000 for any one incident and $25,000 for physical damage to property.  When you break it down like this, you can see that state minimum limits are not much at all, especially considering medical costs and average vehicle values these days.  What you, as the insured, need to consider is the amount of exposure you have in the event of a claim.  If you are a high net worth individual, then you can bet that the person you hit will hire an attorney who will not only eat up your insurance limits, but also come after your personal fortune.  Because of this, it’s imperative that you carry higher limits of coverage and even consider a personal umbrella policy.  Your insurance agent should help you determine what limits you should carry.

You also need to carry comprehensive and collision coverage.  This is what insures your vehicle.  How much coverage you get for your exotic or classic car is usually determined by your insurance company, but many insurance companies are now allowing “stated amount” coverage due to the varying values for exotic and classic cars.  What does this mean for you?  Simply put, you get to put a value on your car and the insurance company will insure it up to the amount you provide them.  In the event of a total loss, they will pay you the stated amount.  So if you got a good deal on your car, make sure you insure it for what it would cost to buy another one.  If you made modifications to your car, take those into consideration as well.  Your premium for this coverage will be based on the amount you provide, but, in the grand scheme of things, it’s better you go with a higher amount and pay a little more in premium.

Aside from the above, the next most important coverage for you to carry is Uninsured or Underinsured Motorist coverage.  As stated, state minimum limits are very low ($25,000 in property damage in most states).  If someone hits your expensive vehicle and only has minimum limits, you will end up with a nightmare on your hands.  For this reason, it’s better you carry adequate UM/UIM coverage which will allow you insurance company to step in and take care of the damage above and beyond what the other person’s insurance company pays.

Personal Injury Protection coverage is also nice to have if you’re going with everything above.  This coverage, often referred to as PIP, is usually a “no-fault” coverage protecting you against medical expenses in the event of an incident, whether it’s your fault or not.

Depending on the state that you reside in, the info above can vary.  However, as the owner of an exotic auto or classic vehicle, it’s important you know the basics so you can make an educated decision on your coverage.

Another item to note is that the cost of insuring an exotic or classic auto is probably much less than you think.  It’s all about matching you up with the right insurance company for your situation.

Boardwalk Insurance Group specializes in insuring exotic cars and classic automobiles.  Our clients include celebrities, politicians, successful entrepreneurs and more.  Our staff is highly experienced in creating custom solutions for all individuals and all information is kept private and secure within our agency.  Here is a list of exotic/specialty car manufacturers we can insure:

  • Acura (NSX)
  • Alfa Romeo
  • Aston Martin
  • Audi (R8)
  • Avanti
  • BMW
  • Bricklin
  • Bugatti
  • Campagna
  • Chevrolet (Corvette Line)
  • Cobra
  • DeLorean
  • DeTomaso
  • Dodge (Viper Line)
  • Ferrari
  • Fisker
  • Ford (GT)
  • Hennessey
  • Koenigsegg
  • Lamborghini
  • Lexus (LFA)
  • Lotus
  • Maserati
  • Mercedes Benz
  • Morgan
  • Mosler
  • Nissan (GT-R)
  • Panoz
  • Porsche
  • Rossion
  • Saleen
  • Shelby
  • Spyker
  • Tesla
  • Toyota (Supra)
  • TVR
  • and many more…

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Business Owners Insurance aka BOP Policies 3.50/5 (70.00%) 2 votes

If you are the owner of a small business, you more than likely need to carry some form of insurance.  Your landlord will want you to carry commercial general liability coverage to protect their investment and you will want to cover your business assets and contents in case of fire or theft.  Insurance for small business owners can be affordable if placed with the right insurance company.

Boardwalk Insurance Group has a variety of insurance plans designed for small business owners.  We have specialty programs for the following types of businesses:

•    Ice cream stores and shops
•    Dry cleaners
•    Mailbox and postal shops
•    Restaurants, cafes, coffee shops and food delivery businesses
•    Convenience stores
•    Shoe stores
•    Clothing stores
•    Electronics shops
•    Appliance sales and repair
•    Mechanics, auto detailers, auto dealers, and car service shops
•    Gas stations
•    Barber shops, nail salons, waxing boutiques
•    Flower shops
•    Pharmacy
•    Limo drivers and companies
•    Delivery companies and couriers
•    Shuttle services
•    And many more

Typical Product Features:
•    Business owners Form (If eligible)
•    Package
•    Monoline Liability
•    Monoline Property

Broad Eligibility Requirements
•    Over 75 Classes selected for preferred treatment
•    Up to $3,000,000 in annual sales
•    New ventures eligible
•    Low Minimum Premiums

Liability Features:
•    Limits available up to $1,000,000 occurrence/$2,000,000 aggregate
•    Expanded definition of Bodily Injury to include Sickness or Disease caused by Mental Anguish or Emotional Distress
•    No Liability Deductible
•    Pollution Exclusion has Hostile Fire Exception
•    Hired and Non-Owned Auto Liability Coverage available
•    Commercial Excess General Liability, Umbrella available up to $5,000,000

Property Features:
•    Broad Property Coverage using ISO’s April ’02 coverage form
•    Equipment Breakdown – Includes free boiler inspection if required in your jurisdiction
•    Value Plus Endorsement available providing 15 coverage extensions and enhancements
•    Special Cause of Loss and Replacement Cost available
•    Up to $3,000,000 in Property limits, $500,000 in all Coastal Areas

Workers / Workmans / Worker’s Comp in Texas 4.25/5 (85.00%) 4 votes

If you are a business owner in Texas and would like to carry a worker’s comp policy on your employees, Boardwalk Insurance Group has many programs specifically designed for your business.  We even have preferred programs which provide custom coverage and special rates for various industries.

Preferred Classes:
Landscape Garden & Drivers
Machine Shop
Masonry
Lawn Maintenance by Contract
Plumbing & Drivers
Concrete or Cement Work
Grocery Retail Stores
Retail Stores
Wholesale Grocery Stores
Auto Service Station & Drivers
Auto Repair Shop & Parts
Physician & Clerical
Hotel: ALL Employees & Drivers
Restaurant
Trucking
Electrical Wiring within Buildings & Drivers                                                Painting/Paperhanging
Clothing / Apparel / Dry Goods Retail Stores
Clubs: Country Clubs, Golf Courses, Fishing, Yacht & Clerical

Additional Classes:
Sheet Metal Workshop & Outside
Concrete Construction
Fence Erection: Metal
Wholesale Stores
Jewelry Stores
Retail Drug Stores
Buildings: Operation by Owner or Lessee
Beauty Parlor / Barber Shop / Tanning Salon
Day Care / All employees
Laundries and Laundromats
Roofers
And many more.

If you don’t see your business on this list, give us a call or send an email to discuss.

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Health and Fitness Club Insurance 5.00/5 (100.00%) 1 vote

Boardwalk Insurance Group is pleased to announce that, through our various brokers and insurance companies, we have become a premier provider of insurance in the health and fitness industry.  We offer our customers coverage for these unique types of risks.

We have access to many markets enabling us to help owners of these businesses get the coverage they need at prices they can afford.

Below is short list of the types of health and fitness risks we can write:

Fitness Centers and Health Clubs
Martial Arts Studios
Dance Studios
Yoga / Pilates Studios
Tennis Centers
Golf Courses
Country Clubs
Water Activities / Sports Centers
Motorsports
Personal Trainers
24 hr / Key Access Health Clubs

It has never been easier to get a quote for your business.  Typical coverages include $1,000,000/$2,000,000 commercial general liability, contents coverage and listing your landlord as an additional insured.

If you own a health and fitness business, you should contact Boardwalk Insurance Group for your fast and free quote.

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Professional Liability Insurance For Various Types of Businesses and Professionals 4.25/5 (85.00%) 4 votes

Boardwalk Insurance Group has been writing various Professional Liability Insurance accounts for several years. As a business owner, you don’t want to take chances with your valuable business. We have markets for most classes and here is a partial list of risks we write often:

Allied Healthcare
Architects & Engineers
Billing Services
Claims Adjusters
Consultants – all classes
Convention/Events Planners
Employee Screening
Expert Witness
Home Inspectors
Insurance Agents
Information Technology
Media/Publishing
Medical Billing
Mortgage Field Services
Payroll Services
Property Managers
Real Estate Agents
Surveyors
Tax Preparer/Bookkeeper
Technology
Title Agents
Travel Agents

If you don’t see what you need on this list, give us a call or send an email to discuss.

Reasons to Obtain Insurance On Purchased Land Leased to Others 4.33/5 (86.67%) 3 votes

If you own land, you may think that there is no need to carry insurance.  Whether your land is being used or not, it’s important that you know that claims can still arise.  There is vacant land insurance available to you.  However, in this article, we will discuss insurance for land you own, but lease to others.  It’s imperative that you also carry insurance.  Here’s why:

•    To protect your insurable interest as a landowner
•    In case a passerby trips and falls on a raised piece of sidewalk in front of  premises
•    No liability deductible
•    Defense costs provided outside the limit of liability
•    Hostile fire exception to pollution exclusion
•    Expanded definition of bodily injury to include sickness or disease caused by mental anguish or emotional distress
•    Credits Available:
1.    Applicant requires all commercial tenants to name the applicant as an additional insured
2.    Lease requires tenant(s) to maintain and/or repair the premises, including keeping the premises free of snow and ice, adjacent to any building e.g. sidewalks, driveway and parking lots

Product Features:
•    Limits available up to $1,000,000 per occurrence/$2,000,000 aggregate and up to $5,000,000 in excess
•    Low minimum premiums (starting at $400)
•    Credits available for:
1.    Applicant being named as an additional insured to tenant(s) general liability policy
2.    Applicant’s lease requires tenant(s) to maintain and/or repair the premises

Coverage Available:
•    Up to 1,000 acres per location
•    Lakes and ponds up to 25 acres in size
•    Land being used for:
1.    Equipment storage or vehicle parking
2.    Auto sales lots
3.    Building on the premises (Only land is leased-building owned by lessee)
4.    Animal grazing
5.    Crop farming
6.    Athletic fields
7.    Hunting

Assault and Battery Insurance Coverage for Restaurants and Habitational Businesses 5.00/5 (100.00%) 1 vote

Boardwalk Insurance Group, through it’s brokers and carriers, now offers Assault and Battery Coverage on Restaurants and Habitational Risks.

Coverage Highlights for Restaurants with Commercial General Liability:
- Included at no additional cost when eligible
- Available if Alcohol Sales are less than 30% of Gross Sales
- Available if no Alcohol Sales
- Included in CGL limits up to $1M / $2M Limits
- Available on Mono-Line CGL or Package of CGL & Liquor
- Not available on $2M / $2M or $2M / $4M Limits
- Not available when quoting Mono-line Liquor Liability

Acceptable even with:
- New Ventures
- Playgrounds
- Entertainment
- Open late

Coverage Highlights for Habitational Businesses with Commercial General Liability:
- Included at minimal charge
- Included in CGL limits up to $1M / $2M Limits
- No Prior Losses from Assault & Battery in past 3 years
- No new ventures
- No high crime areas
- No risks with HUD, Subsidized or Student Housing
- Not avaiable on $2M / $2M or $2M / $4M Limits
- Habitational Supplemental required to quote. click here

What are Habitational Risks?
- Apartments
- Dwellings
- Condominiums
- Townhomes
- Hotels
- Motels

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Restaurant Insurance with Liquor Liability Coverage 5.00/5 (100.00%) 2 votes

Do you own a restaurant?  Do you serve alcohol?  If so, you are required to carry a general liability insurance policy along with liquor liability insurance coverage.  Boardwalk Insurance Group, through it’s various brokers and carriers, has a plethora of programs available for all restaurants, cafes, etc.  Whether you are a casual diner or a 5 star restaurant, we have the right product for you.

Eligible Risks Can Include:
•    New Ventures
•    Dancing
•    Entertainment
•    Bouncers
•    Nightclubs
•    Adult Entertainment
•    Prior claims and/or violations

Coverage and Product Features:
•    General Liability coverage
•    Liquor Liability coverage
•    Property coverage
•    Equipment Breakdown coverage, which includes a $250,000 sublimit for food spoilage
•    Crime coverage
•    Employment Practices Liability
•    No liability deductible
•    Assault or Battery coverage is available on most risks for Liquor Liability
•    Excess limits available for General Liability
•    Non owned and hired auto coverage available if no delivery
•    Value Plus endorsement is available on accounts eligible for Special Form. The endorsement offers 13 valuable coverage enhancements including: Money & Securities, Employee Dishonesty, Signs, Water Back-up and more
•    No inspection or issuance fees

Limits of Insurance:
General Liability limits up to:
•    $1,000,000 each Occurrence/$2,000,000 Aggregate
Liquor Liability limits up to:
•    $1,000,000 each Occurrence/$2,000,000 Aggregate
Property limits up to:
•    $1,500,000 maximum property value in protection class 1-8
•    $250,000 maximum property value in protection class 1-9
•    $500,000 maximum property value per location in coastal zones (wind exclusion applies on building coverage)

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Insurance for Lawn Care Service Providers and Lawn Mowing Companies 4.33/5 (86.67%) 3 votes

Why Do Lawn Care Services Need Coverage?
•    An Employee can accidentally break a client’s window when a stone is thrown from the lawn mower.
•    A high quality lawn mower is stolen from a job site during lunch break.

Our Coverage Features:
•    No Liability Deductible
•    Expanded definition of bodily injury to include sickness or disease caused by mental anguish or emotional stress
•    Defense costs provided outside the limit of liability
•    Up to 50% subcontracted work is eligible
•    Blanket Additional Insured Coverage is available
•    Subcontractors are not required to name our insured as an additional insured or to carry equal limits

Our Product Features:
•    Commercial General Liability coverage with optional Contractors Equipment coverage
•    General Liability is rated based on the number of employees
•    Broad eligibility to include:
1.    New Ventures
2.    Up to 10 workers
3.    Receipts up to $500,000
•    Low General Liability minimum premium of $450
•    Low Contractor’s Equipment deductible of $500
•    Ability to cover rented or borrowed equipment
•    Blanket Additional Insured option available

Our Coverages:
•    General Liability (Up to):
1.    $1,000,000 per Occurence
2.    $2,000,00 General Aggregate
3.    Commercial Excess General Liability or Unbrella available with limits up to $5,000,000

Optional Coverages:
•    Contractor’s Equipment coverage available
1.    Schedules up tp $150,000
2.    $50,000 limit per individual piece of equipment
3.    $10,000 & $20,000 equipment rental coverage options
4.    Up to $15,000 available for miscellaneous tools and equipment

Additional Advantages with Boardwalk Insurance Group:
•    Competitive pricing
•    $0 General Liability Deductible
•    Quick turnaround times with quotes

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Vacant Property, Vacant Building, Vacant Home & Vacant Land Insurance 4.50/5 (90.00%) 2 votes

Do you own a vacant property or vacant building or even some undeveloped land? 

If so, it’s important you have insurance coverage in place.  Just because you have an unoccupied property, it doesn’t mean you are no longer susceptible to risk, losses or claims.  You can incur both property losses as well as general liability claims.

It’s also important that you have the right coverage in place.  For example, Boardwalk Insurance Group offers:

•    Rental Value Coverage
•    No Restriction on Length of Vacancy
•    Buildings undergoing minor renovations
•    Low Minimum Premiums
•    All types of buildings considered

Coverage Features:
•    Replacement Cost available
•    Special Form available
•    3, 6, 9 or 12 month policy terms available
•    Simple short-term policy extensions by endorsement
•    Equipment Breakdown coverage available
•    Loss of Income coverage when a lease is signed
•    Hired and Non-Owned Auto Coverage
•    Property limits available up to $3,000,000

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