Why You May Need Additional Condo Insurance

Insurance for a condo is obviously very different than insurance from a home. The roof and grounds, for example, are usually covered under the primary building owner’s policy as opposed to a unit owner within the building. But just because the HOA enforces strict laws about home insurance doesn’t always mean that you have enough coverage to replace everything you care about. For condo owners in Fort Myers, FL, consider the following tips from SWFL Insurance Agency Inc. 

Times Goes By 

The passage of time isn’t just a natural inevitability, it’s also a recipe for change. The more time you live in your apartment, the more you have a chance to improve upon it and increase its value. From buying a new television to adding an expensive fixture to the bathroom, all of those small improvements you make can really add up. As the state of your condo becomes more and more luxurious, it can push you into a different coverage bracket where you need additional insurance to protect it all in case something happens to it. 

You Started Too Low 

Most people vastly underestimate their worth when it comes to their insurance policy. They do it because that underestimation translates into lower premiums. But it only takes one event to force you to come to terms with the fact that you never had enough coverage, to begin with. While it may mean paying a slightly higher premium, it’s necessary for condo owners to truly evaluate what they would want replacing if something were to happen. For more information or to ask questions about the right level of coverage for you, give SWFL Insurance Agency Inc. a call. We can help people of Fort Myers, FL find the right policy for them! 

Do You Need Boat Insurance If Your Boat Is In Dry Dock Storage?

If you currently have boat insurance, or you are considering purchasing boat insurance, you may have questions about your coverage. For instance, you may want to know if you boat insurance covers damages that occur in dry dock or in storage.

Dry Dock And Storage Damage

If you put your boat in storage or in dry dock, the facility would be liable for any damages, which would be covered by their liability insurance. Your boat insurance generally does not cover damages that occur outside of the water. If you are storing your boat at home, your homeowners’ insurance policy may cover any damages if they occur on the property. 

Know Your Policy

It is important to know the limits of coverage for your boat insurance policy. That is why you should purchase your insurance through an insurance agency that has your best interests at heart. A reputable company will explain all of the terms and conditions and make sure you understand before you make your decision. They will also walk you through every step of your purchase and even the claims process. If you live in or around Fort Myers, FL, SWFL Insurance Agency Inc. can help you get the right coverage for your needs.

Don’t purchase boat insurance without knowing what you are buying. Seek the assistance of a professional insurance provider and ensure you have the proper coverage as well as answers to all of your questions. For assistance with boat insurance, if you live in or around Fort Myers, FL, SWFL Insurance Agency Inc. is ready to help. Call or stop by to speak to one of our agents today.

3 Thing to Know About Motorcycle Insurance

Riding a motorcycle can be one of life’s pleasures. Out on the open road with the warm wind blowing and the sun shining down, it is easy to forget troubles and just enjoy the day. But riders also need to take the time to protect themselves, and to be sure they are doing all the right things to keep them from getting hurt on the road. If they do happen to be in an accident, they want to know that they have good coverage. That’s where SWFL Insurance Agency Inc. in Fort Myers, FL comes in. Here are three things the agency thinks riders should know about motorcycle insurance.

1. Insuring a motorcycle typically costs far less than insuring a car, truck, or SUV.

2. Not all states require a motorcycle to be insured, but Florida does.

3. Anyone wanting to get motorcycle insurance must also be properly and legally licensed.

Riders who work with SWFL Insurance Agency Inc. can get plenty of information about the right kinds of insurance for a motorcycle rider to have. It is important to have trusted professionals and knowledgeable agents on their side, and that can give them the best chance to get the policy that is perfect for them. Not all policies are the same, and not all companies provide the same value, either.

In Fort Myers, FL there are options, but the best choice is the one that consumers do not really have to think about. They know they can trust their agent and the company to do what is right for them, and give them the best possible advice on what insurance they really need to enjoy their motorcycle to the fullest. Then all they need to do is get out on the open road in the sunshine and have a good time.

Is Flood Insurance Worth It?

Contrary to popular belief, flood insurance is rarely included in home insurance policies. However, even if you do not live in an area that is prone to getting floods, you may still want to consider getting a flood insurance policy. This is because a flood does not just happen when a lot of rain starts coming out of the sky. Here are a few reasons from SWFL Insurance Agency Inc. why you should consider getting flood insurance even if you do not live in a flood area in Fort Myers, FL. 

  • A flood can happen in your home. If you have never experienced rain coming from inside your home, you are lucky. However, that does not mean it cannot happen. In fact, a pipe bursting or a bathtub overflowing for a long period of time can cause the same result. There could be extensive water damage that you will have to repair as part of this inside flood and a home insurance policy may not cover it. 
  • A neighbor can cause a flood. You cannot control what other people do and that includes your neighbors. If your neighbors have something such as an above ground pool in their backyard, there is a flood risk. If there is a hole in the pool or it is punctured in some way, all of that water can flow out and cause some major flood damage to your home. 

As you can see, a flood can happen in a variety of ways in Fort Myers, FL which makes getting flood insurance a no-brainer. If you are considering adding this policy, be sure to reach out to SWFL Insurance Agency Inc. today to get your policy started. We will make sure to find one that meets your needs and your budget. 

Three Things to Consider Before Buying Your First Motorcycle

Living in Fort Myers, FL, there are ample incentives to get a motorcycle. Southern Florida is home to many great routes and stretches of enjoyable open road. If you’re ready to turn this dream into a reality, there are a few things you need to know before you start spending money. SWFL Insurance Agency Inc. wants to see you succeed, so here are the three biggest things you need to consider before making that first purchase.

Cost

Sure, you’ve likely looked at bike prices. That’s hardly the whole story. Besides the motorcycle itself, you need to consider the cost of insurance, custom equipment and changes to the bike, maintenance (which is substantially different from car maintenance) and riding gear. All of it together can change your bike cost by as much as thousands of dollars, depending on your tastes and choices, and it needs to be a part of the budget.

Safety

If this is your first bike, there’s a good chance your riding experience is limited. A riding instruction/safety course can go a long way to helping you stay safe on the road. There’s a reason motorcycles are notoriously dangerous after all. The Motorcycle Safety Foundation offers driving courses across the country, and similar groups might be in the Fort Myers, FL area. You can shop around. There is one truth that universally unites bikers: the road is dangerous and you need to be prepared.

The Bikes

Lastly, you need to know about the motorcycles themselves. Shopping for a car is matter of matching prices and preferences. Motorcycles are more involved. For starters, do you know what engine size and weight you can handle? It doesn’t matter how well you control the bike. If it’s too heavy, you can’t pick it up. Beyond that, what type of riding do you want to do? Cruisers, touring bikes, sport bikes and standard bikes all offer substantially different riding experiences. You can’t have it all with a single motorcycle, so you need to have riding goals in mind before you go shopping.

When you know what bike you want, talk with a representative at SWFL Insurance Agency Inc. They’ll make sure you have the right coverage for your new bike.

When Can You Claim Your Flood Insurance?

Most homeowners in Fort Myers, FL tend to overlook the importance of purchasing flood insurance. In fact, statistics from the Federal Emergency Management Agency indicate that only a few homeowners have purchased flood insurance. However, flood insurance is a necessity for everyone and not those that only live in high-prone states. Keep in mind that your SWFL Insurance Agency Inc. standard homeowners’ policy doesn’t cover you against flood damages.

When Should You Claim Your Flood insurance?

You can file a flood insurance claim whenever you experience a flood which results in damage. However, there are three key steps that you must follow while filing your flood insurance claim in Fort Myers, FL.

Notify Your Insurance Provider

After experiencing a flood, the first thing you should do is contact SWFL Insurance Agency Inc. or your insurance company. Make sure that you have your policy number and an email address or telephone contact where you can be reached on at all times. You should expect an adjuster to contact you within a few days of filing your claim.

Record the Damage

Make an effort of separating the damaged property from the undamaged property. Your adjuster will always need evidence of the damage to your home and other property to prepare an estimate of the loss. You can take clear photographs of all the damaged property. You should also make a comprehensive list of all damaged or lost items including their date of purchase and estimated value.

Complete a Proof of Loss to Support Your Claim

Your proof of loss is usually your sworn statement of the approximated amount you are claiming from the insurance. The evidence of loss should be accompanied by all supporting documents to make your case count. Your adjuster should help you prepare your proof of loss. The law requires you to file your proof of loss with your insurance provider within 60 days.

Are you a homeowner who doesn’t have a flood insurance policy. Contact us today for a free quote.

How Should I Insure My Home-Based Business?

Residents of Fort Myers, FL are required by law to have two types of commercial insurance on their home-based businesses if applicable. The first type is commercial vehicle insurance if a business owner has a car, truck, or van that is used for purposes pertaining to the enterprise and that is driven by him or herself or by employees. The second type is workers’ compensation insurance that will provide the insured with benefits in the event that his or her employees need time off  work due to injuries sustained on the job. The number of employees required to necessitate coverage will vary from one to six, depending on the type of industry you are in. 

What Type of Business Do You Run?

Each home-based business has its own particular set of risks that you will want to be insured against. Your homeowners insurance may provide, to a limited extent, some coverage, but a general liability policy will help protect you in the event that a customer is injured on your property, if you are sued for copyright infringement or reputation damage, and if losses occur to somebody else’s property for which you are held responsible.

A professional liability insurance policy can help take care of costs related to mistakes made by your business, and commercial property insurance can provide indemnification benefits for damages that occur to your own property. In addition, product liability insurance is there to assist in covering costs related to lawsuits pertaining to products your company produces.  

SWFL Insurance Agency Inc. is Here To Help You

SWFL Insurance Agency Inc. has experience providing Fort Myers, FL residents with the commercial insurance options they need to effectively run their businesses. We can answer any questions you may have about insuring your home-based business, and we welcome you to contact us and to schedule an appointment today. 

Your Company Got Sued. Now What?

A lawsuit can happen at any time. This is a small business owner’s nightmare. Somebody walks into your business and hands legal papers that say you are being sued. Umbrella insurance coverage provides some protection for these events. The agents at SWFL Insurance Agency Inc. serving Fort Myers, FL can give some sound advice about how umbrella insurance coverage provides necessary protection from such surprising legal troubles.

One of the reasons this is a big concern for any business owner is because a lawsuit might arise due to no fault of the business. An example of this is some defect in products that are being sold, which is caused by the manufacturer. Even if the problem is with the product and its manufacturing process, the business selling it will also usually be named in a lawsuit if someone is harmed.

Some lawsuits are frivolous and have no merit at all. They are just based on made up excuses to try to extort money from a business owner. Even in the case of a frivolous lawsuit there may be legal fees to pay just to defend against it.

Another common thing that can cause a lawsuit for a business is something done by an employee. This could be a simple mistake or serious misconduct. Employee conduct can cause liabilities for the business owner.

Umbrella insurance coverage adds coverage that is above the limits of other policies and also can cover some things as primary insurance that is not covered in any other insurance policy. It is a good idea to talk over the specifics of your business operations with your insurance agent to better understand the risks and what can be covered by umbrella insurance.

Contact SWFL Insurance Agency Inc. serving Fort Myers, FL and the surrounding area to get a quote for umbrella insurance and to understand more about why this coverage is now very important for any business.

Commercial Insurance and Business Tax Deductions

Small and micro businesses in Fort Myers, FL worry regularly about operating costs and keeping budgets tights to maintain new profits. These controls are critical to be successful in the first years of operation, especially when the owner and employees depend on the business to earn a paycheck. However, in the scrutiny of cost justification, many companies defer or do without liability coverage and commercial insurance. And this can be a big mistake.

Not only does commercial insurance represent critical financial protection from possible liabilities, it can also be a very valuable tax deduction for the business. According to the Internal Revenue Service, commercial insurance can be a viable tax deduction. The key factor in the IRS’ perspective, per the federal tax code, is that the expense claimed as a deduction needs to be "ordinary and necessary" for the business. While commercial insurance can represent a valuable liability protection it also needs to be obtained in a policy form that is clearly for the business only. Personal liability coverage is not allowed and can be a big mistake in a tax audit if found to be declared in a misleading manner by the business owner and tax filer.

According to the experts at SWFL Insurance Agency commercial insurance represents a critical safety net for new small businesses. It provides the means to fend off potential liability risks when a new company does not yet have the resources to fully stand on its own. And SWFL Insurance Agency has seen multiple businesses in Fort Myers, FL have to resort to bankruptcy without insurance protection. And that can be a sad ending for an incredible amount of work, energy, sacrifice and more. To avoid this kind of abrupt ending and enjoy viable tax deductions for a business at the same time, contact the staff at SWFL Insurance Agency to find out more.

 

Why take up a renters insurance cover?

As an apartment renter, you need to ensure that you are protected in the event of the unexpected, because your landlord’s insurance will only cover damages to the structure of the building, and not the contents therein. The implication is that your belongings will not be included in this case. Most landlords will require you to purchase renters insurance for your new lease, while some will not demand this, but this is something you should consider.

Coverage For Personal Belongings
In the course of your stay at the apartment you are currently renting, your belongings are exposed to many risks, some of which may be hard to prevent. If there is damage or theft of your possessions, your landlord’s insurance will not cover for these, but your renter’s insurance will do. As such, it may be wise to take an inventory of all your belongings as well, as a record for the insurance company. 

The record will be helpful in case you need to make a claim. Such a document should be kept safe either at a friend’s or relative’s house or an online platform and not your house.

Cushion Against Loss Or Damage
At SWFL Insurance Agency Inc.  Fort Myers, FL we understand that you may have put in a lot to furnish your home, and saving enough money to replace the same after loss or damage may take a while. For that reason, we will offer compensation when that happens, to help you recover fast without having to spend more from your bank account.

Insurance Solutions To Suit Your Budget
Since the lifestyle of one individual is different from that of another, their financial muscle will also vary to some extent. SWFL Insurance Agency Inc. Fort Myers, FL renters insurance solutions are customized to satisfy these requirements, and one that suits you is available.

Some tenants imagine that renters insurance is expensive, which keeps them from purchasing it, when it may cost them much more later. This is a myth you should not trade for your possessions.