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

Archive for June 2012

Boardwalk Insurance Group Protects Your Boat 4.50/5 (90.00%) 6 votes

Whether you own a small sailboat, a pleasure yacht, a fishing fleet, or Panamax cargo ships, marine insurance is extremely necessary to protect your craft, and potentially your business.  Just like the boats and ships on the water, marine insurance comes in many shapes and sizes and can be customized to fit just about any waterborne craft.

Personal boat insurance is going to be the most basic marine insurance policy and could be required if you take out a loan to purchase the boat.  Boat insurance can cover anything from a small jet ski up to a large luxury yacht.  The exact scope and amount of coverage depends on the owner of the craft and what they want to insure.  For something as simple as a jet ski, there generally is not much property to insure, so other than liability coverage for the operator and the jet ski itself, the marine insurance policy is quite simple.  For something larger, even a small motorboat, generally there are small electronics used for navigation and sometimes personal property, such as fishing poles, so the marine insurance policy would need riders to cover that.  On luxury craft, everything from the galley appliances to the artwork in the cabins can be covered, so comprehensive marine insurance can be written.  Boat insurance generally covers fires, sinking, fuel spills, and grounding, and dock liability riders can be added for extra protection from liability and damage done at a dock or marina.

Marine insurance for ships of commerce can get more complicated.  Anything from a small motorboat used for fishing tours to the latest super tankers can be covered under commercial marine insurance.  The difference is that commercial ships have certain extras that need coverage that personal craft do not.  Commercial marine insurance needs to address cargo and crew coverage in addition to hull coverage.  Damaged cargo is probably one of the most frequent liability situations faced by ship owners.  Marine insurance policies can provide coverage toward the value of the goods damaged in shipment.  Similar to personal marine insurance policies, commercial marine insurance policies provide coverage from much of the same hazards on the water, including fires, sinking, fuel spills, and grounding.  Commercial marine insurance can help offset the cost of salvaging the boat or ship in the event something renders it inoperable.

Marine insurance is important for anyone who owns and operates a boat or ship.  There are many hazards on the water and even a small error can have severe consequences.  Marine insurance affords boat and ship owners peace of mind and keeps them from being left on the hook for a large bill if unfortunate events occur.  Shopping for marine insurance and finding the best insurance policy for your boat or ship can be a hassle, but using an independent insurance agent can save you time and money.  Independent insurance agents are partnered with many insurance providers and can do the hard work for you while finding the best marine insurance policy for your boat or ship.

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Boardwalk Insurance Has Homeowner’s Insurance 4.33/5 (86.67%) 6 votes

Purchasing and owning a home is considered a milestone achievement in everyone’s life.  The amount of investment involved in purchasing and maintaining a home makes protecting it from loss an expensive proposition.  Thankfully, homeowners insurance can be taken out on your property, giving you peace of mind that you are protected from many types of loss and will be able to recover.

Homeowners insurance is a broad type of insurance that covers pretty much any type of dwelling where a person lives.  There are many different options providing protection from varying types of hazards.  The cost of homeowners insurance is determined by the value of the property, the type of coverage, and any additional riders, or insured property, attached to the homeowners insurance.  There are other factors, mostly relating to how likely damage appears possible.  If your home is closer to a fire station or has hurricane shutters in a hurricane prone area, the cost of getting homeowners insurance decreases.

Unless you plan on buying your house outright, you will need to take out a mortgage.  Mortgage lenders always require homeowners insurance, so even if you were trying to get around getting homeowners insurance, you will need it until your home is paid off.  Which type of homeowners insurance is taken out is up to the new homeowner and can be adapted to many different situations.  Basic homeowners insurance provides coverage from 11 perils that are specifically listed in the homeowners insurance policy.  The perils are pretty basic, however they are common sources of damage and include fire, wind and hail damage, vandalism, theft, and other causes of damage.  A broader version of homeowners insurance adds an additional 6 perils to the original 11.  Like basic homeowners insurance, this expanded homeowners insurance only protects from listed perils.  The broadest forms of homeowners insurance name excluded perils instead of protected perils.  These homeowners insurance policies are the most comprehensive and most expensive due to the broad range of coverage.

For those that rent property instead of own, there is a form of tenant homeowners insurance that protects personal property with the same amount of coverage as regular homeowners insurance, however it does not need the structural coverage, which should be covered by the building’s owner.  Similar to tenant homeowners insurance, condominium homeowners insurance has reduced coverage for the structure but protects the personal property inside like regular homeowners insurance.  The last “special case” homeowners insurance available is called “Modified Coverage” homeowners insurance.  This type of homeowners insurance is for properties where the replacement value exceeds the market value.  This is great for unique properties that are custom designed with one of-a-kind fixtures or older properties where some of the structural features are no longer available or cost prohibitive to produce.

Homeowners insurance is extremely important to protect your property.  However, many insurance providers offer homeowners insurance, and finding the best one for you and your property can take a lot of time and effort.  Partnering with an independent insurance agency allows you to sit back while your agent does the shopping for you.  Through their affiliated insurance providers, independent insurance agencies have the ability to shop around for the best homeowners insurance for you and your property.

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Boardwalk’s Hotel Insurance Provides Valuable Protection 4.33/5 (86.67%) 12 votes

Hotels and motels are an integral part of the service industry, providing a comfortable, safe place to rest while on vacation.  To protect the hotel from the cost of covering any damages from liabilities or hazards, hotel insurance is a must.  Hotel insurance can offer protection in a wide variety of situations, but what sets it apart from more generic business insurance policies is hotel insurance is customized for the hotel industry.

Hotel insurance is made up of two main components, property hotel insurance and liability hotel insurance.  Both the property and liability coverage can then be broken down into what it specifically covers.  The property coverage of hotel insurance protects both hotel property and the property of the guests staying there.  In the event of damage to the property, business income coverage in hotel insurance protects from loss of business.  In a hotel where damage to one room can quickly affect many, this aspect of hotel insurance is surprisingly important.  Other property related hotel insurance coverage protects from theft by employees and equipment failure, such as computers and other important appliances related to operating your hotel.

In the service industry, liability coverage is just as important, if not more important, since guests and employees who feel they have been put down can easily file a lawsuit, whether substantiated or not.  Even bogus claims can cost thousands of dollars do defend the good name of the business. Hotel insurance protects from the costs of both guest and employee liability claims.  A guest that slips and falls on a spill in the breakfast area can be a costly customer if hotel insurance is not around to cover the cost of legal expenses and other damages possibly awarded.  Hotel insurance even covers liability claims by employees if they get hurt on the job or file a civil claim for discrimination.

Something else to think about for hotel owners is that franchised properties may require umbrella insurance in addition to standard hotel insurance.  Umbrella insurance is just another layer of financial protection.  It covers above and beyond when the premiums of the hotel insurance are reached by the cost of the damages.  Umbrella insurance is a great second line of defense, especially for larger hotels where paying for a higher premium on a standard hotel insurance policy might be cost prohibitive.

Insurance is an important line of defense for many costly situations facing businesses daily.  For hotels, customized hotel insurance has the potential to preserve the property in the face of seemingly irreparable damage or a strong liability suit.

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Finding an Auto Insurance Policy 3.71/5 (74.29%) 7 votes

Finding the right car for you is an important decision and a significant investment.  You probably want to protect it somehow, but after buying your dream car, or just something to get you around the block, you probably have better things to spend money on besides replacement of the car and medical bills in the event of an accident.  Auto insurance can do that, and is a requirement nearly everywhere if you own or operate a vehicle on the road.  For businesses, commercial auto insurance is just as important, whether you have one vehicle or one hundred in your fleet.

In the United States, auto insurance is required to have a minimum amount of liability coverage to pay for damages caused in an accident.  If you are deemed liable, your auto insurance will pay for both property damage and medical expenses to spare you the brunt of the costs.  Each state has its own minimum liability auto insurance requirements, and limits can either be combined total coverage or split coverage for property damage and bodily injury.  Auto insurance can be upgraded to a full coverage policy, which is divided into collision and comprehensive insurance.  Collision auto insurance covers damage caused in a collision with another object regardless of fault and comprehensive auto insurance covers damage caused by anything other than a collision (such as fire, theft, weather, or other “Acts of God”).

Commercial auto insurance has many of the same options as personal auto insurance but is tailored for a business setting.  Many businesses will own multiple vehicles and have multiple drivers, and this all is taken into account for a commercial auto insurance policy.  For large vehicle fleets, commercial auto insurance can be written as fleet insurance, so individual policies do not have to be written for individual vehicles.  Commercial auto insurance also looks at the driving records of individual drivers, so business owners need to look closely at the driving history of their employees.

Other types of auto insurance policies cover unique situations.  Uninsured and underinsured motorist auto insurance protects you when the party at fault has no insurance or insufficient insurance to cover the damages.  Lack of insurance is becoming increasingly prevalent, making this type of auto insurance more appealing.  Loss of use auto insurance covers the cost of a rental car when your primary vehicle is being repaired due to covered damage.

Auto insurance has many facets and can be very complicated when shopping around for a policy.  Auto insurance is offered by nearly every major insurance agency and many smaller ones as well.  Finding the best auto insurance policy for you can take a lot of time and money.

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Garage Liability Insurance Protects Customers and Employees 3.43/5 (68.57%) 7 votes

There are many auto repair shops, ranging from small local businesses to large franchise shops to dealership service facilities.  There are many tools and chemicals presenting potentially grave liabilities should something go wrong.  To protect the business, garage liability insurance and garage keepers insurance can be taken out for the business.

Garage liability insurance is a business insurance that strictly covers liability for the property and the work done there.  Typically, garage liability insurance is also paired with garage keepers insurance, which covers the property of customers at the garage.  Both garage liability insurance and garage keepers insurance are very important for auto repair shops, because even the smallest mishap on the property can have potentially devastating repercussions.

Garage liability insurance protects the business from any potential liabilities on the property.  Whether the liability comes from an employee’s actions or a disgruntled customer, garage liability insurance protects the auto repair shop from the costs of the damages.  With all the tools and chemicals, garage liability insurance is a must.  Oil can cause someone to slip and fall, the lift holding the car up could fail, and in the event a repair goes bad, the auto repair shop is also protected from the angry customer as well.  Some auto repair shops also own and operate their own fleet of vehicles, from rapid response flat tire repair to tow trucks of various sizes for anything from a car to an eighteen wheeler.   These vehicles are also covered by garage liability insurance.  No auto repair shop is too small for garage liability insurance.  Even if the auto repair shop is on the side of a convenience store or another unrelated business, garage liability insurance should be used to protect it.

Garage keepers insurance is just as important as garage liability insurance for an auto repair shop.  While garage liability insurance protects the business and its property, garage keepers insurance protects the property of the customers.  Many of the same dangers concerning garage liability insurance also pertain to garage keepers insurance.  While garage liability insurance will probably provide more day-to-day protection, garage keepers insurance will most likely protect against a larger single claim.  If something were to happen at the auto repair shop that damages or destroys customer property, like a fire destroying several cars, garage keepers insurance provides coverage.  The cost of damages to vehicles and the property in them can quickly escalate into the tens and hundreds of thousands of dollars depending on the size of the auto repair facility.

Both garage liability insurance and garage keepers insurance have many different factors affecting the policy, and shopping around for an adequate garage liability insurance and garage keepers insurance policy can be a very demanding task.  However, an independent insurance agency can effectively do most of the work for you by generating business insurance quotes from affiliated insurance providers.  This lets the auto repair shop owner focus on their work while ensuring the policy is the best value and meets the needs of the auto repair shop.

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Boardwalk Has Information on Homeowners Insurance 4.75/5 (95.00%) 4 votes

Homes are important investments that can open the door to many other possibilities.  The purchase and ownership of a home allows you to use it as collateral for loans and is generally regarded as a major milestone in one’s life.  Homeowners insurance is the best way to protect such an important property and ensure you are not left in the cold in the event of an unforeseen disaster.

Homeowners insurance has about as many different options as there are different types of properties.  They come in several broad types of policies, ranging from a very basic, minimum coverage homeowners insurance policy to special homeowners insurance policies for older homes and rental properties.  Just as each home has its own unique features, each homeowners insurance policy must be tailor fit to the property it is protecting.

To help sort through the details, this blog will overview the major types of homeowners insurance policies.  Having some information is important when it comes to looking for the best homeowners insurance policy for your property so the insurance agent can build the most cost effective homeowners insurance policy and make sure the policy covers all the hazards that the homeowner wants.  The basic homeowners insurance policy, the HO1 policy, covers only a limited number of listed hazards specifically listed in the homeowners insurance policy.  However, it is generally the cheapest type of homeowners insurance where the home belongs to the policy holder (the exception being renter’s insurance, or HO4 insurance).  The basic homeowners insurance policy can have specific hazards covered through additional add-on policies, such as flood insurance (flood insurance is rarely included in homeowners insurance) to provide additional protection.  An expanded form of homeowners insurance is the HO2 policy, which adds on several more hazards that are covered, however like the HO1 homeowners insurance policy, only the named hazards are the ones that the policy will protect against.

The HO3 homeowners insurance policy is typically the most comprehensive form of homeowners insurance applied to single family homes.  While covered hazards are still named in the homeowners insurance policy, the list is very long, protecting from nearly every potential hazard that is not covered in a special insurance policy (such as earthquakes and floods).  For property owners, the HO5 is the next homeowners insurance policy, and instead of naming covered hazards, names excluded hazards.  Basically, if the cause of the damage is not listed in the homeowners insurance policy, it is covered by the homeowners insurance policy.

The basic homeowners insurance policies can afford varying degrees of protection for varying costs.  Other special types of homeowners insurance policies can also be adapted to special situations, such as renters insurance, condominium insurance, or insurance for older homes, where the replacement cost exceeds the property value.  Sorting through all these homeowners insurance options can be a difficult task, however an independent insurance agency can use its connections with many different insurance providers to do the shopping for you.

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