Umbrella Insurance Basics

When protecting your assets, you can never be too careful. That’s why B & G Insurance in Miami, FL, offers umbrella insurance. It’s a type of liability insurance that gives you an extra layer of protection beyond traditional insurance policies. Learn more about the basics of umbrella insurance, what it can cover, and why it’s important to consider it as part of your overall insurance strategy.

What is Umbrella Insurance?

Umbrella Insurance is a type of liability insurance that provides coverage beyond the limits of your existing policies, such as your home or auto insurance. The policy offers protection that helps safeguard your assets should you face a lawsuit or other liability claim that exceeds the limits of your current policies.

What Can Umbrella Insurance Include?

Umbrella insurance can potentially help in various liability claims, including bodily injury, property damage, and personal injury. It can also cover claims related to slander, libel, and defamation of character. Additionally, these policies may cover legal fees and other expenses associated with defending yourself against a liability claim. We can walk you through the exact specifics during your consultation.

Why is it Important to Have this Additional Coverage?

Without umbrella insurance, you could be responsible for paying out-of-pocket for any liability claims that exceed the limits of your other insurance policies. This could put your assets, such as your home or savings, at risk. On the other hand, you’ll have peace of mind knowing you have something to fall back on if you take advantage of what we have available.

Speak With Our Agents to Learn More

At B & G Insurance in Miami, FL, we understand the importance of protecting your assets. Umbrella insurance will provide an extra layer of protection that helps safeguard your assets and provides peace of mind. We encourage you to contact us to learn more about these policies and how they can benefit you.

Are Some People Required to Purchase Flood Insurance?

Flood insurance is a government-backed insurance program designed to protect people from flooding related to natural occurrences. Anyone interested in acquiring flood insurance protection who lives in the Miami, FL, area can rely on B & G Insurance to give them the policy options they need to gain peace of mind.

Flood Insurance Protection 

Flood insurance protects homeowners against flooding-related events such as storm surges or seasonal flooding. Some people may be required to carry flood insurance, especially if they have a mortgage through a federally funded loan program. Flood insurance can only be secured through the government.

Other lenders may also require homeowners living in flood zones to carry flood insurance. To determine if flood insurance is required, consult with your lender. If so, our team of insurance agents can provide policies that offer the needed protection for your home.

Flood insurance may be optional for some homeowners. However, individuals living in areas with notable flooding events may want to consider a policy purchase.

Customers seeking flood insurance coverage can consult our expert insurance agents to discover which options best suit their needs. Additionally, the agent can help with policy selection, submission of documents, and even claims. Our goal is to provide top-level customer service to ensure you get protection for the things that matter most.

Reach Out Today 

Anyone in the Miami, FL, area interested in securing flood insurance coverage can count on B & G Insurance to provide them with expert-level service and reliable Insurance coverage. Call or stop by our office to speak to one of our knowledgeable representatives. Get the coverage today to give yourself peace of mind tomorrow.

The difference between term and whole life insurance

When people start researching life insurance, they can quickly become overwhelmed by all the different types of policies available. The most popular types are term life insurance and whole life insurance; understanding their differences is essential to making an informed decision. At B & G Insurance, we want to ensure everyone in the Miami, FL area knows how to pick the best policy for them.

Term life insurance covers a specific period, usually 10, 20, or 30 years. It’s often the least expensive type of policy with premiums that remain level during the covered duration. Once the term ends, so does your coverage, but you can renew it for an additional premium if necessary.

Whole life insurance falls under the umbrella of permanent life insurance and lasts until age 100 (or longer). This type of policy accumulates cash value – meaning that some of your premium payments build up an amount of money in a savings account that you can access if needed. Whole life insurance is typically more expensive than term. Still, it also provides "living benefits" like borrowing from the accumulated cash value or using the policy’s death benefit as leverage for a loan.

The decision between term and whole life insurance depends on your individual needs and financial situation. Term is often best for people who need coverage for a specific period of time or have temporary financial obligations (like children). If you want to leave a legacy or create tax-free income during retirement, whole life could be right for you.

If you have additional questions about which type of policy is best for you, give us at B & G Insurance a call today. We proudly serve the Miami, FL area. 

What Is Comprehensive Auto Insurance?

Nobody wants to think about the possibility of an accident. However, crashes don’t always involve other drivers. In that case, you may want to consider purchasing comprehensive insurance for your vehicle in Miami, FL. Need help? B & G Insurance has knowledgeable agents to help determine if this makes sense for your vehicle.

What Is Comprehensive Insurance?

Comprehensive insurance typically covers the cost of repairing or replacing your vehicle when you’re the only driver involved. It’s essential to understand the extent of coverage of your specific policy. However, here are common examples of covered perils:

  • Theft-related damage
  • Damage due to fire, hail, or flooding
  • Damage from an animal
  • Damage from fallen objects
  • Damage due to vandalism

If you have gaps in your current policy, comprehensive insurance may help further protect you and your vehicle. For example, liability insurance doesn’t typically cover the cost of your vehicle in a single-car accident.

Is Comprehensive Coverage Worth It?

You may not have a choice in whether or not you have to purchase comprehensive coverage. Many leasing companies and lenders will require it in your rental or loan agreement. However, it might still make sense if you pay off your car or pay cash for one. For example, comprehensive insurance will cover losses in the event of theft or vandalism. This could save you a lot of money when repairing your vehicle.

Some accidents are unavoidable. A deer can jump in front of your car, leaving you no opportunity to miss it. At least with comprehensive coverage, you won’t have to worry about paying for the damages.

Contact B & G Insurance if you need more information about how to purchase comprehensive auto insurance coverage in Miami, FL. We are happy to discuss the pros and cons of adding comprehensive coverage to your policy.

Actions safe drivers take every time they get behind the wheel

It’s estimated that 1.2 million people are injured in car accidents yearly. While many of these accidents are unavoidable, there are some steps that all drivers can take to minimize their risk and stay safe on the road. Here are three actions safe drivers take every time they get behind the wheel.

  1. Wear your seatbelt at all times. This is one of the most important things you can do to stay safe in a car, as it protects you in the event of an accident. Not only that but buckling up also helps keep you and any passengers in your vehicle from being ejected in the event of a collision.
  2. Don’t drink and drive. Driving under the influence is one of the leading causes of car accidents, so it’s essential to avoid alcohol or other substances before getting behind the wheel. Even if you don’t feel impaired, it’s still safer to have a designated driver who abstains completely from alcohol or other substances that can impair your judgment.
  3. Follow the speed limit and always stay within the legal limits of your state. Driving too fast is one of the most common causes of car accidents, so it’s important to pay attention to posted speed limits and stick to them at all times.

Following these tips can help reduce your risk of being involved in an accident. Safe driving is essential for everyone on the road; please be sure to practice these safety tips every time you drive. And, if you have any questions about your insurance coverage, give us at B & G Insurance a call today. We proudly serve the Miami, FL area.

How Commercial Insurance Can Help Your Business If It’s Sued

No matter how well you run your business, the possibility always exists that it could be sued. If this happens, having commercial insurance from B & G Insurance in Miami, FL can help protect your company’s assets. The following information will help you understand how commercial insurance can benefit your business if it is sued.

The basics of commercial insurance and what it covers.

Commercial insurance is a vital tool that helps employers and employees protect against liabilities, damage to property, and accidents. Commercial insurance provides valuable peace of mind by customizing coverage to fit the specific needs of a business in the face of potential hazards.

Most commercial insurance policies will cover the cost of repairs or replacement if the business’s property is damaged or destroyed. This can include buildings, equipment, inventory, and other business assets. Liability coverage is also available with commercial insurance. This can protect the business from lawsuits if someone is injured on the property or if the company is found to be liable for damages. Worker injury coverage can help pay for medical expenses and lost wages if an employee is injured while working.

How commercial insurance can help you if your business is sued.

Commercial insurance can help protect your business from lawsuits by providing financial assistance to help cover the costs of legal fees, settlements, and judgments. This type of coverage can also provide funds to pay for the expenses of defending your business in court. In some cases, commercial insurance may even cover the cost of punitive damages awarded to the plaintiff in a lawsuit.

B&G Insurance is a commercial insurance company serving Miami, FL. We specialize in providing insurance coverage for businesses of all sizes. Whether you need property insurance, liability insurance, or workers’ compensation insurance, we can help.

Three mistakes to avoid when you buy home insurance

Choosing the right home insurance policy is one of the most important things you must do as a homeowner. At B & G Insurance, we offer home insurance coverage that protects homeowners financially. 

The following are three mistakes homeowners in Miami, FL need to avoid when meeting their home insurance needs. 

Getting a quote from only one home insurance provider

Shopping around and comparing quotes between numerous home insurance providers in your area is essential.

By comparing your options and researching, you can be confident that your insurance policy is competitively priced and offers you good value. 

Being unaware of the exact coverage offerings of your policy

Reading over the details is important. Don’t make any assumptions about what types of home damage will be covered under your policy.

In particular, you shouldn’t assume that your policy includes flood coverage. Flood coverage is vital for Florida homeowners and isn’t typically included in most standard home insurance policies. 

Choosing the wrong deductible amount

Be sure to consider your options regarding your deductible amount carefully.

Choosing a deductible amount that’s very low could make it so that your monthly premiums are high. However, a deductible amount that’s too high could make it difficult to afford your deductible if you have to file a claim.

Consider your budget and the amount of funds available in your emergency fund to pay a deductible to determine what the deductible amount should be on your policy. 

If you’re in the market for a home insurance policy in Miami, FL, we’d like to help. Get in touch with us at B & G Insurance for a quote on a home insurance policy. 

Who benefits from having trucking insurance in Florida?

The transportation, trucking, and shipping industry is a significant and necessary one that is needed to ensure products can be shipped all over the globe. If you operate in this industry in or around Miami, FL, you can find many opportunities to succeed. One way you can protect your business is with a trucking insurance plan, and there are various situations when having coverage is beneficial.

Those Trying to Reduce Liability Risks

One situation when someone can benefit from having a trucking insurance plan is when they are trying to reduce their liability risks. There are always risks that come with being in the trucking industry, and you could be held liable for various situations that result in a loss, including theft or accident damage. If you have a trucking insurance plan, you can help to offset and mitigate these risks.

Those Trying to Comply with Requirements

You also want to have a trucking insurance plan if you have insurance requirements. There are various situations when a trucking insurance plan will be required. Trucking insurance could be necessary if you want to operate a truck legally in Florida or comply with basic business insurance obligations. If you carry this insurance at all times, you can be assured that you will remain in good standing.

Picking a trucking insurance plan is an important decision for those in the trucking industry in the Miami, FL area. When looking for a new plan here, it might be a good idea to call B & G Insurance. The team with B & G Insurance will be able to help you by assessing your trucking insurance options and giving you the support you need to build an ideal plan. 

Why All Renters Need Renters’ Insurance

When you are a renter, getting renters’ insurance is essential to have all the protection you can. This is a type of insurance that is much different from home insurance. Because you don’t own the dwelling, you need insurance that doesn’t require you to pay for that protection. Renters’ insurance is known for being low cost, but it offers a lot of protection against a wide range of risks. When you rent and you don’t have a renters’ policy, you can call us at B & G Insurance in Miami, FL.

Protect Your Belongings

One of the most important types of protection in any renters’ insurance policy is protection for all you own inside your home. When you have renters’ insurance, it covers those items so that they can be replaced after a severe event destroys them. Without this coverage, you could be left with nothing after a damaging incident. With renters’ insurance, the policy can pay for them so that you don’t have to come up with the money for it all from your pocket. This is always important coverage to have when you’re renting. 

Liability Coverage

One thing that many people don’t think about much is their liability if something were to happen in their home. With the high cost of medical bills, it’s wise to have coverage that can take care of them if you are liable for paying them. When someone comes to your home and has an accident, you are likely responsible for paying for the resulting bills. With renters’ insurance, you get liability coverage that will pay for them. 

Get Renters’ Insurance

If you don’t already have a renters’ policy, there is no time to wait. Call us at B & G Insurance in Miami, FL. 

Full-timers RV Insurance: When You Live In Your RV

If you decide to live in your RV full-time when you retire instead of using it for periodic short trips, you’ll need to contact B & G Insurance serving the greater Miami, FL area to update your RV insurance to a full-timers policy.

What is a full-timers policy?

When you live in your RV all of the time, you need to insure your RV with full coverage. That means your policy would consist of collision, comprehensive, property damage liability, bodily injury liability, and roadside assistance. It covers all of the damage that could occur to your RV plus the damage you could cause to another individual’s vehicle. You may also want to add personal injury protection (PIP) to it, so if you or your passengers get injured in a no-fault accident, you’ll still have medical coverage.

Other Reasons to Undergo an Insurance Review

When you decide to use your RV full time, you might upgrade a few things, like your microwave, convection oven, and refrigerator/freezer. Another upgrade many people make, installing solar panels, also requires upgraded insurance. When you renovate your RV, you make it worth more money. That means you need to increase your coverage, too. Without the update, your insurance will only cover your RV as it was when you purchased it.

Give Us A Call Today

Contact B & G Insurance serving the greater Miami, FL area for more information about updating your RV insurance to a full-timers policy. We can help you with a policy review based on your RV updates and usage schedule. Let us help you hit the road fully insured.