Personal Property Insurance
• Homeowners Insurance – Insurance protection for one of your most valuable assets.
• Condo Insurance – Condominium policies often take greater attention to detail to prevent overlaps or gaps in coverage
• Tenants Insurance – Inexpensive insurance options that make sense for renters.
• Landlord Protection – Renting your home? Protect yourself with landlord insurance.
• Flood Insurance – Insurance protection that covers what many homeowner’s policies don’t.
• Earthquake Insurance – Specialized insurance coverage for when an earthquake strikes.
Here are some steps you can take to reduce the danger of being seriously underinsured:
1. Call Protected World Insurance Agency.
If you have questions or concerns about the limits in your policy, ask us to show you how those amounts were calculated. This will also give you an opportunity to make us aware of any overlooked information.
2. Read your policy.
Certain property, such as jewelry, and certain perils, such as earthquake or flood, is better insured separately. Knowing what is covered and for how much will help you insure properly. If there is anything in your policy you don’t understand, contact Protected World Insurance Agency at +1 (614) 488-2700 and ask for an explanation.
3. Review.
At each annual renewal of your policy, you receive a new Policy Declarations page showing limits of coverage and optional coverages. Review this information. If you do any significant remodeling or add a family room, extra bedroom or bathroom, etc., tell us about these changes so your coverage limits can be adjusted to cover the improvement. Consider carefully whether your policy provides all the protection you need:
Does it provide coverage for extra costs resulting from building code changes, or automatically increase limits to keep pace with inflation, or provide additional funds if the cost of rebuilding exceeds policy limits? Does your policy include replacement cost coverage for contents (clothing, furniture, appliances, and other personal property inside your home)?
4. Inventory your home.
Prepare an inventory of personal property items, update it periodically, and keep it in a safe place outside your home, such as with a trusted relative or a safe deposit box at your bank. It will save you hours of time trying to list everything damaged or destroyed if you need to make a claim. It will also help ensure you don’t forget some items. Protected World Insurance Agency advises our member clients that video recording each room with a vocal descriptive on the sound track as a best practice for preparing an inventory record.
Commercial Property Insurance
Commercial Property Insurance is one of the most common types of business insurance and offers a breadth of coverage for your buildings, inventory, equipment, tools, and more. Protect your investment from losses from fire, theft, vandalism, windstorm, natural, and un-natural disasters, with a properly written commercial property insurance policy. A basic commercial property insurance policy may be all you need, although the types of coverage can vary between different insurance companies. As an independent agent, Protected World Insurance Agency can help you determine the type of insurance policy and range of coverage that is best for your business. For a full list of coverage available, or to learn more about this product, email us today:
Ohio, Michigan, Maryland, and Florida - What you need to know about commercial property insurance
We want to make sure that you the building owner has enough property insurance to cover the replacement cost of your building should something catastrophic occur. Although cost estimators are available, we recommend that you secure an appraisal from a third party to accurately determine the current replacement cost of your building.
Business Personal Property
Business personal property insurance covers property at a specified location for furniture, fixtures, equipment and inventory. Be aware that most commercial property policies have very limited coverage for property taken off the specified location. If you have equipment that is frequently taken off-site to various locations, it is important that you have an inland marine policy (equipment or installation floater).
Business Income (Business Interruption Coverage)
This coverage reimburses a business owner for lost profits and fixed expenses during the time that a business is closed. It applies while the premises are being restored because of damage from an event, such as a fire. Business income insurance may also cover financial losses that occur if civil authorities limit customer access to your neighborhood or business after a disaster. Protected World Insurance Agency strongly recommends that all businesses acquire this coverage.
Electronic Data Processing (EDP)
Separate property coverage specifically designed to protect your computer related equipment. Most commercial property policies have limited coverage for computer networks. EDP broadens the causes of loss to include things like power surges and in some cases virus attacks.
Flood
Most commercial property policies exclude flood as a covered cause of loss. A separate policy must be purchased to protect you from resulting damage. Check your current property insurance policy to be sure you are covered.
Give Protected World Insurance Agency a call today at +1 (614) 488-2700, and we’ll help you determine if you have enough commercial property insurance with a review of your policies.
