5 Things to Consider When Looking for Real Estate Insurance

Sep 17

real estate insurnaceReal estate is a very valuable asset that needs to be properly protected. One thing that you will need to make sure that your home is property protected is homeowners insurance. When looking for homeowner s insurance Florida residents need to take several factors into consideration.

Property Value
The most important factor to consider is your property value. You will want to make sure that you have coverage in place that will replace the value of your property.

Flood Coverage

Depending on where you live, you may need to get additional flood insurance. Many people in Florida live in flood zones that will be required if you have a FHA-guaranteed mortgage. If you live in flood zone, your regular policy may not cover flood damage and the additional coverage will be a necessity.

Personal Property

Your home insurance policy should also provide coverage for your personal property. This can include providing you with coverage for your furniture, electronics, and other items. This will ensure you have coverage to replace these items if they are damaged.

Riders for Individual Items
If you own expensive jewelry or collectibles, they likely won’t be covered by your base policy. Instead, you will need to get a rider on your policy. This will cover any type of expense you incur, including loss or theft.

Liability 
When you get a property insurance policy, it will also provide you with personal liability protection. This can prove to be very beneficial in the event of an accident. It is important that you consider your individual risk factors when choosing a liability protection level.

When you are in need of property insurance Hallandale residents should reach out to the Riemer Insurance Group. When you speak with this company, they will help you to better understand your home owners insurance needs. They will then help you get into a policy that provides you with the right protection.

 

What you Should Know about Jeweler’s Block Insurance

Aug 27

jewelersWhat Is Jeweler’s Block Insurance?

It is very similar to homeowners or auto insurance. It provides compensation to retail stores and manufacturers who have had their diamonds damaged, lost, or stolen. Block insurance covers everything from precious gems to metals. It has also been called “Floater Policy” and Florida Commercial Insurance by some customers.

How much coverage do you need for it to matter?

That depends on the situation and the type of jewelry covered. Stores that sell beaded jewelry do not normally get this insurance. It is for those who sell high-end jewelry.

Customers generally do not cover 100%. They mostly cover 80% of their purchase. The fine print is very complicated, more so than auto or homeowners insurance. You can be denied a claim when you overlook an important detail. We encourage customers to read everything in the Jeweler’s Block Insurance contract.

What does it cover?

1) It covers everything in your inventory.
2) Any theft with certified mail.
3) It covers any damages while it is in your possession, including repairs.
4) It covers burglary in your store or during tradeshows.

How does it work?

It can help you recover lost or damaged merchandise from those who “smash and grab” and anything in between. It can provide compensation during a natural disaster, including a fire or storm.

The Premiums

1) The deductible is what you pay before your insurance takes over. There are different deductibles you can pick, including $10,000. You pay the first $10,000 and then the insurance covers everything after that.

2) There is something called “the limit.” That is the most your insurer is going to pay you. Say you have a $700,000 limit. The insurance might only pay $100,000 of that. You are responsible for the rest.

3) Premiums are based on your location and the value of your inventory. More value equals a higher premium.

Hallandale Florida Commercial Insurance

Riemer Insurance has been underwriting Jeweler’s Block Insurance for more than 30 years. They have served customers in-person and online. They provide products and services for everyone from private businesses to individual wholesale retailers. Contact them below to find out more information. You can also fill out the form online and someone will respond ASAP.

 

When do you Need Professional Liability Coverage?

Aug 13

professionalBusiness owners and certain professionals run a higher risk of being sued for liability. For those that believe that they are in risk of being sued for liability, one of the best things that they could do would be to get professional liability coverage. This will provide a variety of liability coverage benefits to ensure you are properly protected. There are certain situations in particular when you need to have professional liability coverage.

Selling a Product

One situation when you definitely need to have liability coverage insurance is when you sell a product that is used by consumers. Whether you produce something that is used for athletic performance, consumed as a food or drink, or used by consumer in any other manner, you need to make sure that you are properly protected. Even if you have gone through all possible levels of testing and compliance, there is always a risk that someone could be injured when using your product. When you have a professional liability insurance policy in place, you will have the coverage you need to ensure you are protected if you are sued for liability.

At Risk Professionals

Another situation in which you want to have professional liability insurance in place is if you are a professional that is generally at risk for liability lawsuits. Today, there are a wide variety of different types of owls that are at risk. Those that are in the medical field, the field of law, and a variety of other professional areas could be sued for liability at any given time. Because of this, these professionals need to make sure that they are properly protected. Having professional liability insurance coverage will provide the insurance protection that they need.

If you are in need of commercial insurance in Florida, you should reach out to Hallandale Florida Commercial Insurance. When you meet with the team at Hallandale Florida Commercial Insurance, you can be assured that you are speaking with experienced Florida commercial insurance professionals. The team will be able to ensure that you are able to better understand your professional liability needs and will help you get into the right policy to provide you with insurance protection.

 

Common Questions about Art Insurance

Jul 27
art insuranceStore owners have to insure their property and merchandise. Art owners have to do the same. They include art dealers, museum owners, art gallery managers and artists themselves. You may know how to maintain artwork but not know about insuring it or even know if it’s necessary. Review a few, common questions that people ask about fine arts insurance.

Why is it good to have insurance protect your artwork?

Artwork, jewelry and antiques tend to be in the expensive to very expensive price range. Some museums contain artwork that’s valued at tens of thousands of dollars on average. Art owners can make twice the amount of money that they invest in artwork, but they have twice the risk of getting robbed and losing a fortune.

Art insurance ensures that costly investments are protected. Some thieves prefer to target museums like others prefer to target banks. Most buildings are protected by security guards during the day and alarm security systems at night. The most valuable artwork pieces are protected behind shatterproof glass cases. However, art theft still occurs when there are one or more loopholes in the security system.

What kinds of coverage are available?

The types of coverage for fine arts insurance are similar to those for home, life or auto insurance. Your artwork is covered by manmade events, such as theft, vandalism and fire, and natural disasters like flooding or wind damage. Every policy has exclusions that do not provide coverage, such as police or government seizures, fraudulent events or accidental damages caused by you or someone else.

In case of a theft, the insurance company covers all or part of the artwork’s value. It’s the art owner’s responsibility to figure out the value of their possessions. The step after that is to choose the right policy and obtain the right amount of insurance coverage.

There are insurance coverage options for every expensive investment that people make. Riemer Insurance provides a variety of Florida commercial insurance options, including policies that protect your artwork, whether you own paintings or sculptures. Contact a representative to learn more about what we cover and how our services are beneficial to you.

What Does Contractor Insurance Cover?

Jul 20
contractor insuranceBeing a contractor is hard, satisfying work, but it can also be a dangerous job. Contractors, especially ones with employees, make it a priority to ensure themselves and their business. Some contractors are not allowed to pick up projects without Florida commercial insurance. Not only will insurance make you appear to be thorough and professional, but it will also help you protect the business you have worked to build.

One problem many contractors face, though is finding an insurance policy that covers their needs either as a whole or on a per contract basis. If you are a contractor in Florida and are having a hard time finding the proper Florida commercial insurance, read ahead to see some common policy features to look out for.

  • Contractors Equipment Floater- This policy insures loss or damage to your tools and equipment that can be moved from one location to another.
  • Monoline General Liability– This policy is stand alone liability insurance without the “bells and whistles.” It is general liability to protect your business if something goes wrong and it is your fault.
  • Monoline Property Insurance – This policy is standalone to protect any property you may damage while working.
  • Group Health Life Disability– This policy covers life insurance, health insurance, and disability insurance for you and your employees.
  • Key Man Insurance– This life insurance policy is to cover a “key” person in your business. Usually this policy is reserved for parties that hold weighty financial responsibility in the company and individuals that have specialized skills that make them hard to replace.
  • Automobile Insurance– This coverage is for the normal vehicles used solely for business purposes. Think of pickup trucks and company cars.
  • Builders Risk– This policy insures the building materials you have purchased and stored on site.

No matter what, it is vital to have an ongoing relationship with insurance professionals to help you insure your company as it grows and changes. Riemer Insurance Group specializes in commercial insurance in Florida and can help you find the perfect coverage to protect your construction company.

Is Hurricane property damage covered by my homeowner’s insurance?

Jun 27

One of the more common causes of widespread home damage in Florida is hurricanes. Even a low-level hurricane or a tropical storm can cause terrible destruction and damage to homes. Florida residents often take substantial precautions to reduce the impact of these storms on their homes, but some damage may still occur. You may be wondering if a Florida homeowner s insurance policy will cover hurricane damage or if a separate type of coverage is needed. At Riemer Insurance Group, we can help you to keep your home comprehensively covered so that your out-of-pocket expenses after a hurricane are limited.

A typical homeowner’s insurance policy usually includes coverage for wind and hail damage. These are some of the primary perils associated with damage to Florida homes during a tropical storm or a hurricane. However, specific coverage for all damage related to a hurricane as a named peril is not usually included. This means that all damage to your home that is caused by a hurricane may not be covered. Most homeowners need to contact Hallandale Florida Insurance Groups for specific benefits related to flooding. Because hurricanes and tropical storms can bring torrential rains, flooding is a common occurrence with hurricanes. When flooding is not promptly addressed, there is also a possibility for mold growth to occur. Both flood insurance and mold coverage must be added to your policy separately and are not included with a typical Florida homeowner s insurance policy. Be aware that your lender may require one or both of these coverages to be added as part of their lending requirements.

Riemer Insurance Group is part of the Hallandale Florida Insurance Groups, and we are available to help you set up the right coverage for your needs. We can provide you with coverage that meets your mortgage company’s insurance requirements, and we can also help you to learn about any additional coverage types that may benefit you. Through our efforts, you can rest assured that we can help you to protect your home against all types of hurricane-related damages as well as other perils that may affect it over the years.

Boating Accident Damage – Who Is Liable?

May 27
Contact Riemer Insurance Group To Learn About Boat Insurance

boating accidentIf you live in Florida, then you need to learn more about the Hallandale Florida insurance groups that offer insurance for boat owners. To use the waterways in this state, you must have a permit that is similar to a driver’s license. When a law official requests your permit while you are using a boat, you will also need to have your photograph identification.

Pass a Boat Safety Course

When you have a boat that has a motor, you must pass a boat safety course. It is essential to have liability coverage to pay for the damages caused to property such as a dock or building, and you should also have liability coverage for personal injuries of other boat operators and passengers. While Florida doesn’t make boat insurance mandatory, without it, you can have a huge financial burden after an accident occurs.

Call Law Officials After an Accident

If you are involved in an accident while operating a boat, then you must notify the local law officials so that they can collect statements. When someone is injured, make sure to contact paramedics for assistance. After the injured individuals are transported to a hospital’s emergency room, you may need to contact an attorney for help.

Keep Your Insurance Policy With You While Boating

The law officials will want to know more about your insurance coverage so that the individuals who are injured can receive financial reimbursement for their medical bills. Your insurance will also pay for the damages to other property that is located in the water or on the land. When you don’t have boating insurance, the injured individual or a property owner can sue you for damages.

Protect Your Finances With a Boat Insurance Policy

At Riemer Insurance Group, we can discuss your particular requirements for boat insurance so that you can pay for the damages and injuries that might occur. An agent will analyze your insurance needs by learning what type of boat you own and where you use it the most. Protect your finances by calling us today.

Why you should have Rental’s Insurance

Apr 05

Rental’s InsuranceWhile many property owners do have Florida homeowner s insurance, that often doesn’t cover you or your personal belongings when you rent a unit from them. They may not require you to carry a renter’s insurance policy of your own, but here are some things to consider, before making your decision.
1. Rental’s Insurance is Inexpensive.
For one year, the average cost of Rental’s insurance is just $187. While that number may be adjusted according to your location, the value of your belongings, and other factors, it’s still an affordable way to ensure peace of mind.
2. Your Personal Property Will Be Covered
This means your insurance company will cover the cost of having your items replaced in the case of damage or theft. Even if your belongings aren’t very valuable, isn’t it better to know you’ll have help in replacing them in the event of an accident or burglary?
3. Your Visitors Are Protected
Most renter’s insurance policies cover medical expenses and legal fees in the event a guest is injured, while visiting your apartment. Even though they’ll only be covered up to the limit on the policy, that can be as much as $100,000 worth of coverage on some policies. The coverage can even be increased, if you’re willing to pay a larger premium.
4. Your Coverage Goes With You
Most policies will cover your belongings, even when they’re not in your apartment. This means they’re covered, while being transported in your car or when you take your clothes and jewelry with you on that trip to the Cayman Islands. As long as your policy covers the type of damage that occurred, your insurance company will cover the losses.
5. Additional Living Expenses
Suppose your apartment becomes uninhabitable as the result of damage covered by your policy. In that case, you’ll be able to receive assistance in paying for temporary housing, food, and other necessities.
To learn more about renter’s insurance, contact Riemer Insurance Group, a member of Hallandale Florida Insurance Groups. By speaking with a professional and experienced broker, you can learn more about the benefits of renter’s insurance and your specific coverage options.

7 Actions that affect your Homeowner’s Insurance

Mar 04

homeowner's insurance

Besides paying your mortgage, owning a home comes with other expenses such as repairs and homeowner’s insurance. An increase in your homeowner’s insurance premium can seriously put a dent in your monthly budget, which makes it essential to look at options for homeowner’s insurance Florida has available such as Hallandale Florida Insurance groups. Keep these seven actions that can impact your rate in mind.

1. Remodeling
Remodeling improves the look of your home and increases its value, but can also increase your insurance premium. This is because it’s more expensive to rebuild if a disaster occurs, but not informing the company can mean you don’t have adequate coverage.

2. Attractive nuisances
Items that are fun, such as trampolines and pools, known as attractive nuisances, will increase your premium. Your liability can increase due to more significant risk. Limit access by using gates, fencing, and locks.

3. Installing a wood stove
Wood stoves are a rustic way to keep your home warm, but increase your premium because they can be dangerous. Verify that your stove is installed by a licensed contractor to comply with code requirements.

4. Running a home business
Running a business out of your home is convenient, but you need to have coverage for your equipment and inventory. You might need to purchase a policy with more coverage to protecte both your home and business.

5. Owning a dog
Dogs increase your insurance because there’s a risk that they could bite someone. Some companies charge higher rates or outright refuse to ensure certain breeds of dog. Check with your insurance before bringing a dog into your home.

6. Luxury items
Expensive cars and jewelry increase the risk of theft and can hike your premium. You may need to purchase a separate rider for your policy to provide coverage for the more expensive pieces you own.

7. Making a claim
Making a claim is why you have insurance, but a history of claims will likely impact your rate. Try to limit claims to only when you need them and cover more basic repairs or expenses out of your pocket if possible.

Riemer Insurance Group can help you find the right policy and coverage limits that meet your needs.

5 Items you need more Insurance Coverage on

Feb 05

Insurance Coverage

Think you have enough insurance coverage? Think again. All it takes is one accident or lawsuit and your personal savings, home, and car may be at risk. Most people lack enough liability insurance for even a moderate car accident. Your homeowner’s insurance limits, on the other hand, may not be enough for high-end items or the cost to rebuild your home. Here are 5 items for which you probably need more insurance coverage.

#1. Your Auto Liability Coverage
Many people only buy the state-mandated minimum amount of liability insurance. In Florida, this is $10,000 in no-fault or personal injury protection (PIP) coverage and $10,000 in property damage liability (PDL) coverage. While this may sound like a lot, what happens if you are in a serious accident? Is $10,000 enough to cover medical expenses for everyone in the car? Consider that a typical 5-day stay in a hospital can top $10,000 easily.

What about damage to the other party’s vehicle? If you total a car worth more than $10,000, you will be on the hook for the remaining damages. This is why it pays to increase your coverage beyond the minimum limits.

#2. Your Financed Car
When you have a car loan, you are usually required by your lender to get full coverage, or minimum state limits plus coverage for physical damage to the car. This is because the lender technically owns the car until you pay off your balance. What you may not know is you may owe more on your car than it’s worth, especially early in your loan. If the car is totaled, you will be responsible for paying the difference between your insurance payout and your balance.

Gap insurance or loan lease insurance bridges this gap between the car’s value and what you still owe.

#3. Your Home
When was the last time you reviewed your Florida homeowner s insurance policy? If it’s been awhile, it’s a good idea to review your coverage limits. You may not have enough insurance on your home if you have made major improvements like an addition or kitchen remodel. You should also check if you have coverage for the replacement cost of your home. This is the highest level of coverage and it pays the amount it would cost to rebuild your home in the event of a total loss.

#4. Your Life
A life insurance policy can ensure you won’t create a financial burden for your loved ones when you pass. Life insurance proceeds can be used to fund your child’s education, pay off the mortgage, and pay for basic living expenses. Unfortunately, people underestimate their life insurance needs.

To determine an adequate life insurance amount, consider how much debt you would leave behind. Next, think about how much income you contribute to your household and the level of income your family members will need if you aren’t around.

#5. Your Belongings
If you’re renting, don’t neglect renter’s insurance. A landlord’s policy will not cover any of your personal possessions. Renter’s insurance usually costs about $25 a day to protect your furniture, electronics, appliances, and more. As a homeowner, it’s important to review your homeowner’s policy. If you have luxury or high-end items, they may not be covered. You may need to get a rider to protect jewelry, artwork, collections, and more from damage or theft.

Riemer Insurance Group is one of the leading Hallandale Florida insurance groups and has served the community since 1978. At Riemer Insurance Group, we make it our goal to help you get the insurance coverage you need at a price you can afford. If you aren’t sure if your coverage limits are enough, contact us to review your insurance policies.