insurance blog

A deductible is an amount that you're responsible for in the event of a loss. This is the amount you pay out-of-pocket, and insurance covers the remainder.

When speaking with your agent to set up your policy, any valuables you are concerned about and our agent can review your policy and recommend changes to ensure your valuables have proper coverage.

There are a variety of factors that impact your insurance premiums. Some of them are: cost of replacement or rebuilding, inflation, standard cost of living increases, risk factors of which there are many and they become specific to the type of policy. For example Employment Related Risks are different in LA county compared to other counties. Fire risk will be different based on location just like flood risk. 

A homeowners policy is an insurance policy that provides coverage for your home and personal property in the event of damage, loss or theft. The coverage typically includes:

1. Dwelling coverage: This covers the structure of your home, such as the roof, walls, floors, and foundation.
2. Personal property coverage: This covers your personal belongings, such as furniture, appliances, clothing, and electronics, in case they are damaged or stolen.
3. Liability coverage: This covers you if you are found responsible for injuring someone or damaging their property. It can also cover legal fees in case you are sued.
4. Additional living expenses coverage: This covers the cost of temporary living arrangements if you are unable to live in your home due to damage from a covered event.
5. Medical payments coverage: This covers medical expenses if someone is injured on your property, regardless of fault.

It's important to note that homeowners policies can vary in terms of coverage and exclusions, so it's important to read your policy carefully and talk to your insurance agent if you have any questions.

There are several different types of homeowners policies, but three of the most common ones are HO3, HO5, and HO6 policies. Here's a brief overview of each:

1. HO3 Policy: This is the most common type of homeowners policy and provides coverage for your home's structure, personal property, liability, and additional living expenses. However, it only covers damage caused by specifically named perils, such as fire, theft, and windstorm.
2. HO5 Policy: This is a more comprehensive type of homeowners policy that provides broader coverage for your home and personal property. It covers damage caused by any peril, except for specifically excluded ones. This type of policy is generally more expensive than an HO3 policy.
3. HO6 Policy: This is a type of policy designed for condominium owners or those who own a unit in a co-op building. It covers personal property, liability, and additional living expenses, but it only covers the portion of the building that you own, rather than the entire structure.

It's important to note that these policies can vary by insurer, so it's always a good idea to read your policy carefully and ask your insurance agent if you have any questions about what is and isn't covered.

Restaurants need several types of insurance coverage to protect against potential risks and liabilities. Here are some of the most common types of insurance that restaurants may need:

1. General Liability Insurance: This insurance provides coverage for bodily injury or property damage that may occur on the restaurant premises, such as a slip and fall accident. It also covers any legal fees associated with a lawsuit.
2. Property Insurance: This insurance covers damage to the restaurant's physical property, such as the building, equipment, and inventory, from events like fire, theft, or storm damage.
3. Workers' Compensation Insurance: This insurance is required by law in most states and covers medical expenses and lost wages for employees who are injured on the job.
4. Commercial Auto Insurance: This insurance covers any vehicles owned or used by the restaurant for business purposes, such as food deliveries or catering.
5. Liquor Liability Insurance: This insurance provides coverage for any damages or injuries caused by customers who were served alcohol on the restaurant's premises.
6. Cyber Liability Insurance: This insurance protects the restaurant against data breaches and cyber attacks that may compromise customer information.
7. Business Interruption Insurance: This insurance provides coverage for lost income and expenses if the restaurant is forced to close temporarily due to a covered event, such as a natural disaster.

The specific insurance needs of a restaurant may vary depending on the size and type of establishment, so it's always a good idea to work with an insurance agent who specializes in restaurant insurance to determine the right coverage for your business.

If your restaurant sells alcohol, you will likely need a specific type of insurance coverage called liquor liability insurance. This type of insurance is designed to protect your business against any damages or injuries caused by customers who were served alcohol on your premises.

Liquor liability insurance is typically added as an endorsement to a general liability insurance policy, rather than being a separate policy altogether. Some insurance companies may require that you have liquor liability insurance in order to sell alcohol at your restaurant, as it helps to minimize the financial risk associated with serving alcohol.

It's important to note that liquor liability insurance is not typically included in a standard general liability insurance policy, so if you plan to sell alcohol at your restaurant, you should talk to your insurance agent about adding this coverage to your policy. This will help to ensure that your business is fully protected against any potential liabilities related to the sale of alcohol.