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Commercial Insurance Coverage: What isn’t Covered?

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Commercial insurance is a necessity for every business. However, it doesn’t provide coverage for all potential scenarios. There are more exclusions than one might initially presume. When considering purchasing a commercial insurance policy, it’s essential to grasp what it does and doesn’t cover. Our team at Birmingham Insurance Agency LLC, based in Birmingham, AL, is here to guide you through the standard exclusions typically found in commercial insurance plans.

Typical Exclusions in Commercial Insurance

Commercial insurance commonly excludes general liability and commercial property aspects. General liability insurance does not cover expected or intentional harm, contractual liabilities, and pollution.

On the other hand, commercial property insurance does not cover damage due to improper maintenance, intentional damage, or natural disasters. Since standard commercial insurance doesn’t cover these situations, it’s vital to understand what your policy protects against to avoid potential harm to your business in the long run.

Other Probable Exclusions

Apart from general liability and commercial property, certain incidents might only secure coverage if purchased separately using umbrella insurance. These can include employee injuries such as workers’ compensation and vehicle accidents, typically covered by commercial auto insurance. You also have options for professional liability insurance and cybersecurity insurance.

It’s important to remember that some policies do include these exclusions. As policies differ across providers, being aware of the most common exclusions is crucial. If you need any clarification, a representative from Birmingham Insurance Agency LLC in Birmingham, AL, can help you understand what specific insurance plans include.

In conclusion, while commercial insurance is an absolute must for any business, it does have limitations. Additional coverage options might be required to ensure comprehensive protection. If you’re interested in exploring the available commercial insurance plans and additional coverage offerings, please contact us today.

Three Things You Can Do To Be Sure Your Home Insurance Coverage Is Enough

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Home insurance helps protect you from expensive repair or replacement costs when a covered event occurs, but do you have enough coverage? Repairing or replacing damaged property can add up quickly, so it’s important to update your home insurance policy regularly.

At Birmingham Insurance Agency LLC, servicing Birmingham, AL, we help homeowners like you ensure they have enough home insurance coverage to protect their homes.

1. Work With Your Insurance Agent to Get Your Initial Policy

Your insurance agent at Birmingham Insurance Agency LLC will help you choose a policy that provides adequate coverage for your property. Your insurance agent will know questions to ask and provide resources to help you choose a policy that meets your needs.

2. Update Your Insurance Coverage Annually

Once you’ve got insurance, it’s important to review your policy annually to ensure that you have adequate coverage to repair or replace your property if a covered event occurs. During the review of your policy, you’ll want to consider how much material prices and labor costs have changed and whether you’ve made significant improvements to your property since you took out your policy.

3. Contact Your Insurance Agent When You Make Changes At Home

When you add to your home or perform a significant upgrade, contact your agent with Birmingham Insurance Agency LLC, servicing Birmingham, AL. Some enhancements can reduce the cost of your home insurance by keeping your home safer, so it’s essential to get credit for the work you’ve done! If you’ve added on to your space, you may need more coverage to ensure that your home insurance policy will be adequate if it’s needed. 

Why You Need Both Home and Flood Insurance Policies

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If you are a homeowner, you likely have a home insurance policy. Home insurance protects you from various damaging events, including certain disasters. However, it does not cover floods. For this protection, you need both a home and flood insurance policy to avoid damage and extensive repair costs. To secure your home and/or flood insurance policy, reach out to us at Birmingham Insurance Agency LLC in Birmingham, AL.

Home Policies Can Leave You Vulnerable

When you sign up for a home insurance policy, there are certain exclusions, including flood damage. Floods can cause extensive harm, sometimes rivaling the damage caused by a fire. Since flooding is specifically excluded from your home policy, it’s necessary to have a separate flood policy to shield yourself. A home insurance policy provides protection from many other risks but will not be helpful in the event of a flood. Thus, both types of policies are essential for comprehensive protection. 

Floods Can Happen Everywhere

There are areas designated as flood zones, and these spots are expected to flood at specific intervals, such as every 20 years. A flood policy is mandatory if your property is located in one of these zones. However, flooding can still happen even if you are not in a flood zone. Around 20% of flood claims come from outside any designated flood zones. Hence, it’s necessary to have a flood policy regardless of your location. Flooding can occur in various climates and terrains, and it can happen to you. 

Get Flood Insurance in Alabama

Having both home and flood insurance policies increases your shield against potential damage as a homeowner. For assistance, please feel free to contact us at Birmingham Insurance Agency LLC in Birmingham, AL.

Coverage provided by condo insurance

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In today’s challenging housing market, a condo often presents a more affordable option. For those uninterested in yard work, condos provide a means of homeownership without the hassle. We are independent agents at Birmingham Insurance Agency LLC in Birmingham, AL. Our role is tailoring insurance solutions that align with our customers’ individual needs.

Property

Property insurance provides coverage for the building itself and the items affixed to the walls. It’s important to determine whether your condo association master policy is an “all-in” or a “bare walls-in.” These terms describe the extent of coverage. An “all-in” policy covers everything, barring your personal possessions. With “bare walls,” however, nothing inside your condo is covered. This means elements like electricity and plumbing may also lack coverage.

Content

Content insurance covers all personal possessions such as clothes, furniture, jewelry, electronics, and any items not covered under property coverage. You may opt for coverage based on current values or replacement costs. This type of coverage has limits under certain categories, so for additional coverage, you may require an endorsement.

Liability

As a condo owner, you are held responsible for liability coverage within your unit. The condo association master policy extends liability coverage to common areas and the building’s exterior.

Loss of use

If a covered peril causes severe damage to your condo, rendering it uninhabitable, “loss of use” coverage comes to the rescue. Without this coverage, you would have to bear the costs of relocating until your condo receives a certificate of occupancy. This period could range from a few days to several months. Hence, this coverage proves extremely valuable during such challenging times.

Based in Birmingham, AL, Birmingham Insurance Agency LLC is at your service to help you secure the condo coverage that best suits your needs.

The Differences Between Whole Life and Term Life Insurance

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A life insurance policy is essential for anyone with loved ones who depend on them. It’s important to leave something behind to help prevent financial problems. Before getting a life insurance policy, it’s good to know the two main types and how they differ. These policies have big differences, causing them to work in very different ways. To learn more about life insurance, call us at Birmingham Insurance Agency LLC in Birmingham, AL.

Whole Life Basics

A whole life policy will stay good for life, even if you become very elderly. This is in contrast to a term policy that has an expiration date. A whole life policy never expires, so you never have to get another life insurance policy later. Many people find that they like the peace of mind that comes with this type of insurance because they can keep it for life. These policies also build up a cash value that can be used a few years down the road if you’re ever in an economic emergency and need to borrow money. A term life policy doesn’t have this feature. 

Term Life Basics

A term life policy comes with a set expiration date that is known from the beginning. If you die during this time, a death benefit will be paid out to your beneficiaries. However, after it expires, you’re no longer covered. However, many people choose this type of life insurance because it comes at a much lower cost than a whole life plan. Many policyholders find it fits into their budgets much better than whole life insurance. 

Get Life Insurance 

Whether you want unending coverage or a less expensive policy, we can help. Contact us today at Birmingham Insurance Agency LLC in Birmingham, AL.

Do Alabama Business Owners Need to Purchase Commercial Auto Insurance?

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If you run a business in Tuscaloosa or Birmingham, AL, you’ll likely need to purchase a commercial auto insurance policy. Even freelancers who use a vehicle for both business and personal reasons may need a commercial policy.

Alabama Commercial Auto Insurance Requirements

Alabama business owners will need a commercial auto policy with a minimum liability limit of $25,000 per person, $25,000 for property damage, and $50,000 per accident for bodily injury. However, the coverage requirements may vary if your business has a semi-truck or another large vehicle. For instance, large commercial vehicles traveling on the interstate need a minimum combined single limit of $750,000.

What About a Personal Auto Insurance Policy?

A regular auto insurance policy will not provide compensation if an accident occurs when a vehicle is used for commercial purposes. If, for instance, you drive part-time for Uber or Lyft and you rear-end another vehicle, you won’t qualify for coverage because you weren’t using your car for personal reasons. This same point applies if you use a vehicle to meet customers, close sales, or transport your wares to and from markets. 

Get Professional Help from Birmingham Insurance Agency LLC When Choosing Commercial Auto Insurance

At Birmingham Insurance Agency LLC, we understand that each client has specific needs and requirements. We work with you to ensure the coverage you pick meets Alabama state laws and your exact needs. If you’re unsure about what type of coverage your car needs, want to choose a basic policy, or explore multiple options to provide your vehicle with full coverage, contact us at your convenience. Our Birmingham, AL office can offer quotes and the expert advice you need to choose the best policy for your situation.

Insurance Coverage for Commercial Inventory Essentials

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Your commercial insurance policy should adequately protect the inventory essentials you store at your place of business. Review the inventory materials you have available. Then, consider the insurance requirements for these items.

Storage

Inspect the pallets and racking systems that you use to store goods. Make sure that the pallets and racks are in operable order. Ensuring that none of the items are damaged will reduce injuries.

Assess the location where you store goods. The inventory should be stored in a secure area that will not be accessible to those who do not work at your place of business.

If you currently store anything in an area that could easily be broken into, change the layout of your inventory.

Mechanical Equipment

Examine the mechanical equipment that is used to produce inventory or transport inventory. The mechanical equipment could break down, requiring replacement materials.

Expensive equipment could also be stolen or vandalized. Consider covering all the equipment you rely upon to conduct daily business operations.

Keep careful records of the mechanical equipment at your place of business. This list should include all the items you will add to your commercial insurance policy.

Vehicles

Assess the vehicles that are used to transport inventory essentials. The vehicles should be properly insured while you are actively using them. The vehicle list added to your insurance policy should be updated as needed.

Contact Birmingham Insurance Agency LLC

Contact one of our agents who serves Birmingham, AL. An agent who represents Birmingham Insurance Agency LLC will prepare your updated commercial insurance policy for you.

Insure New Flooring Materials in Your Home

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The new flooring that was installed in your home could become damaged at some point. If a natural disaster or criminal activity results in damage, your home insurance policy may pay for the repair work needed. Use the tips below to assess the flooring and update your home insurance coverage.

Flooring Materials

Some modern floors consist of a top, middle, and base layer. Other floor styles may only feature one or two layers. Assess the flooring materials that were installed in your home.

Consider the value of each material that the floor is made of. You will need to provide a description of the floor when you are ready to insure it. The dimensions and style of the floor should be furnished during this time.

Risks

The new flooring materials will undergo normal wear and tear. This is to be expected. However, flooding, vandalism, or another unexpected event could cause extensive damage.

Assess the risks associated with owning new flooring. If you live in an area that often floods, the flooring materials may become exposed to rising waters at some point. The risk level could influence how much insurance coverage you need for the new flooring materials.

Protection

Seek some ways to protect the flooring. The use of floor mats will prevent the floors from becoming scuffed. Avoid placing heavy, sharp items on top of the flooring materials. If flooding is a big concern, have your property’s drainage materials inspected. Replace any drainage materials that are damaged.

Contact Birmingham Insurance Agency LLC

Contact an agent who serves Birmingham, AL. Our representatives of Birmingham Insurance Agency LLC provide our customers with solid insurance advice.

The Vital Role of Flood Insurance in Disaster Planning

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At Birmingham Insurance Agency LLC, our focus is on safeguarding our community, serving Birmingham, AL and the surrounding neighborhoods. While insurance plans often center around typical coverage, the significance of flood insurance in disaster planning cannot be overstated.

The Vital Role of Flood Insurance in Disaster Planning

In many regions where the risk of flooding due to weather events is a reality, many overlook the need for specialized flood insurance. Homeowners’ insurance policies typically exclude flood damage coverage, leaving a crucial gap in protection against natural disasters. This is where flood insurance steps in as a crucial component of comprehensive disaster planning.

Disasters like hurricanes, heavy rainfall, or even rapid snow melting can lead to severe flooding, causing extensive damage to homes and properties. Without adequate coverage, recovery from such disasters can be financially crippling. Flood insurance serves as a safety net, offering coverage specifically designed to handle these situations, helping homeowners and businesses rebuild and recover after a flood.

It’s important to note that flood insurance isn’t just for those residing in designated flood zones. Even properties outside these areas face risks, and having this insurance adds a layer of security against the unexpected.

Navigating the complexities of insurance laws and coverage options is what we specialize in. We understand the specific needs of the community and can tailor flood insurance solutions that align with the area’s requirements.

Safeguard Your Future Today!

Take action today to protect your property and secure your future. Connect with us here at Birmingham Insurance Agency LLC, serving Birmingham, AL, and surrounding areas, to explore how flood insurance can fortify your disaster planning strategy. Ensure your peace of mind in the face of unexpected natural disasters.

How to Resolve Insurance Disputes With Your Condo HOA

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Due to the strict oversight and governing rules typically enforced by a homeowner’s association (HOA) for condos, disputes between tenants and owners and HOAs are fairly common.

Some top categories encountered in these disputes are:

  • Discrimination
  • HOA Denial of Condo Insurance Claims
  • Fines & Violations
  • Maintenance Failures
  • Denial of Plans to Update a Unit
  • Pet-Related Dispute
  • Resisting Board Actions & Rules

However, there are ways to resolve these disputes to the satisfaction of both parties, many of which can avoid legal intervention.

Ways to Resolve Condo Association Disputes in Birmingham, AL

At Birmingham Insurance Agency LLC, we’ve seen a number of our customers have issues with their HOA denying claims that should fall under their master policy. Some are slow with approving or denying requests to change the unit, while others feel they have been fined by the board unjustly. Here are some effective ways to get resolution to issues outside the courtroom setting.

  • Know Your Rights as a Condo Unit Owner: You must be aware of all the rights you have as an owner or renter, as well as know the rules in the HOAs bylaws and Covenants, Conditions & Restrictions CC&Rs. This is the key to developing a strong case or coming to the realization that their decision was justifiable.
  • File an Official Complaint: You can enter into negotiations by filing a formal complaint against the association and/or with state agencies governing such issues.
  • Alternative Dispute Resolution: The first step is meeting up to discuss the altercation and hopefully come to a resolution that is workable for everyone.
  • Mediation: A neutral third party works with the parties to discuss the complaint and possibly come to a resolution.
  • Arbitration: Less formal than court, this step may be mandated by law, or certain associations before any legal action can be pursued. Arbitrators review the evidence and come to a decision that may be binding or non-binding.

Have Questions? Consult With Birmingham Insurance Agency LLC

Our experienced staff can help condo owners near Birmingham, AL better understand their HOA’s rules and provide comprehensive insurance policies to keep you covered should legal action be necessary. Contact us today to learn more.

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