We at SIMPLICITY INSURANCE GROUP knows that the process of purchasing insurance can be confusing.That’s why we’ve compiled hundreds of articles to help you better understand the various types of insurance and how they relate to your specific situation. Whether you’re looking for tips to save money on Homeowners Insurance or you want to know what is covered by a renters insurance policy, we can help. Get the information you need to make an informed decision before you buy insurance.
Homeowner’s coverage doesn’t have to be difficult to understand. A basic policy will cover the following:
You can also add supplemental policies such as:
When your home is damaged or destroyed, you want an insurance company that will respond quickly with calm efficiency.
SIMPLICITY INSURANCE GROUP can help you find the home insurance that will give you the peace of mind to know you are covered when disaster strikes.
Whether you're a first-time homeowner or about to retire to your dream home, the right home insurance policy can provide you the money you need to repair or replace your home, belongings, or both in the event of a fire, flood, or other covered events.
The Right Choice for Your Home
Homeowner insurance policies differ by the type of residence, value of your belongings, and the level of coverage you choose. You can select different types of insurance based on your personal housing situation and the assets you want to protect. These options include:
Property or Dwelling Coverage pays to repair or rebuild your home if it’s damaged or destroyed by an insured event like a hurricane or fire.
Personal Property Insurance replaces your belongings that were lost, stolen, or destroyed as a result of a covered loss.
Additional Living Expenses cover additional living expenses if you can’t live in your home while it is being assessed and repaired from a covered loss.
Additional coverages that may also be available:
Personal Liability Coverage – if someone is injured or your property
Medical Coverage – for guests that are accidentally injured on your property
Scheduled Personal Property Coverage – for unique valuables that need separate coverage to ensure their full value is covered
Landlord Protection – for additional risks posted by tenant-occupied dwellings
Umbrella Insurance – for extended coverage when your other insurance liability has been exhausted.
Freeway Insurance offers competitive rates for home owner property insurance policies. Our home insurance programs provide a safety net for you and your family when certain unfortunate events happen like theft, fire or floods. Our licensed bilingual and bicultural insurance experts with decades of experience can help you to select the right coverage to protect your home and personal property.
What is Homeowner Insurance and Why Do I Need it?
Home owner insurance compensates you for losses to your home and your possessions inside it, so purchasing a homeowners policy provides added security for your investment. Home owner insurance also protects you if you’re legally liable for someone’s injuries on your property, as well as from financial losses caused by storms, fire, theft and other events outlined in your policy.
Secure Your House and Possessions with Homeowner Insurance.
For homeowners, insurance protection is an important aspect of homeownership. Buying home owner insurance, also called home insurance, means buying protection for your home — both inside and out. We offer replacement cost coverage for the incidents listed below.
● Fire or lightning damage
● Windstorm or hail damage
● Freezing of plumbing system
Tips & Resources:
Tips for Buying Homeowner Insurance:
A Consumer’s Guide to Home Insurance:
How do I get home owner insurance?
Becoming insured by one of the experts at Simplicity Insurance Group is easy! Simplicity Contact our office at 321-424-5112.
Condo insurance protects what your association's insurance does not, including your possessions, repairs to the interior of your unit, and liability claims brought against you, as well as any additions, alterations, and improvements you make to your unit that are your responsibility based on the condo association agreement. Let Insurance Scout Partners help you find the right amount of coverage to suit your condo insurance needs. Various limits of loss assessment coverage are available. Be sure to consult the HOA agreement to determine the potential for such assessments. We can help you determine your coverage needs to make sure you are properly covered.
Protect Yourself and Your Guests
Your condo insurance policy protects you and your family members against bodily injury and property damage liability claims and any litigation that may result subject to the limits you select. You can also select medical payments coverage, with various limits available, which pays for a visitor’s medical expenses if they are injured at your residence regardless of fault.
Extra Coverage For Extra Peace of Mind
We can help you customize your plan with extra coverage. Additional coverage options can provide of peace of mind at an affordable rate.
Many people supplement their condo insurance coverage with personal umbrella liability insurance for broader protection.
If you have special valuable items such as jewelry, art, antiques or collectibles, you might consider valuable articles coverage, which provides broader coverage and no deductible in the event of a covered loss.
Optional loss assessment coverage protects you against certain assessments that may be levied by the association. You would be compensated for additional living expenses incurred should you need to vacate your condo after a covered loss.
Full value personal property coverage ensures that you are reimbursed the full replacement value of your belongings, without regard for depreciation after a covered loss. If you have upgraded cabinets or put in hardwood floors, condo building item coverage protects these investments.
We want to help you find the best combination of coverage, value, and price for you. We can help make sure your condo insurance continually meets your needs.
Contact us today for a free condo insurance quote.
Protect your Investment with our Landlord Insurance
Your rental property is an important investment and can provide a steady source of income. But all sorts of hazards, from lightning and floods to kitchen fires and electrical issues, could damage your property and your wallet. Freeway Insurance’s expert insurance advisors can find a landlord insurance policy that works for you.
Safeguard Valuable Income
What if disaster strikes and your rental property becomes uninhabitable? Freeway Insurance’s Rental Income pays you the income you would otherwise lose due to a covered loss. If your tenants have to move out, insurance could keep the rental income coming in for up to 12 months. Because of the variety of coverage available, landlords are often advised to carefully consider different options before buying an insurance policy. Comprehensive landlord insurance provides coverage for all types of situations. In contrast, peril policies generally cover fewer types of damage and list only those losses that will be covered. As a landlord, you should not only consider possible property damages, but also libel, slander and discrimination. Get a quote online at our local offices, online at www.Simplicityins.com
Our Landlord Insurance Policy offers coverage for property owners. We provide rental property insurance and liability coverage that protects you from:
● Damages to your property
● Damages you could be legally obligated to pay
● Legal counsel and fees
Employment Practices Liability Insurance
EPLI for employers covers employment-related liabilities other than on-the-job injuries. This can include both legal fees and damages for suits such as wrongful dismissal, sexual harassment, and other alleged violations of employees’ legal rights. Businesses who have employees are strongly encouraged to put this type of coverage in place.
Protect Your Apartment, Condo, or Rental House with Renters Insurance
If you are renting an apartment, home, or condo, you can protect your family with Freeway Insurance. Renters insurance covers damages to your possessions when you rent rather than own your home. Our team of bilingual and bi-cultural insurance experts, with decades of experience in the field, has helped thousands of renters to sign policies best suited to them. Renter’s insurance can protect your personal property against fire, theft and vandalism as well as from personal liability lawsuits.
What is Renters Insurance?
If you rent rather than own your home, having insurance protection for yourself and your possessions is still important. Renters insurance protects you in situations that everyone can face: fire, theft, water damage and other unforeseen circumstances–situations your apartment owner’s policy doesn’t cover. Imagine going to dinner or a family get-together, and when you return home, you’re greeted by the flashing lights of police cars and fire trucks. Building fires, floods, and other damage can happen anytime, anywhere.
Renters insurance typically provides coverage, up to the limits you select, for specified items and situations, including:
● Personal property (furniture, electronics, computer equipment, clothing, etc.)
● Personal liability if someone is hurt, whether in your home or away from it.
● Damage to your apartment or home caused by a covered loss.
Renters Insurance Covers More Than Property, Possessions, and Belongings
Renters insurance will protect you from incidents that occur while you’re at home, too, such as a toaster catching on fire or a friend slipping and falling while visiting you. Renters insurance provides coverage for your own items, and it provides coverage for other people’s injuries or damages in situations for which you’re liable, as well. Protect your family and your possessions with Freeway Insurance.
● Smoke damage
● Collapse of the building due to weather
● Water leakage or overflow
● Freezing of plumbing, air conditioning and more
Tips & Resources:
You have a lot of things that are important to you – from your clothes and furniture to your sound system, sports gear, and computer -- and you want to feel confident that your treasured possessions are not at risk in the event of theft or damage. A renters insurance policy can covers your personal property against theft or damage, even if you are away from your home.
A renters insurance policy can protect against certain bodily injury and property damage claims for which you are liable. Legal defense may also be provided in the event you are sued after a covered loss, subject to the limits you have selected.
For small additional premiums, the following can be added to your renters insurance, at a level that fits your needs:
Full value coverage on your personal property, which ensures that you will be paid the full replacement cost of items that are damaged or stolen without deduction for depreciation.
Medical payments coverage which will pay for medical expenses incurred by a visitor who is injured at your residence regardless of fault.
The Right Coverage, The Right Price
Ask about available discounts including burglar alarm credits and account credits for customers who package their auto and/or umbrella policies with their renters insurance policy.
Let us help you find the right amount of coverage to suit your insurance needs. We'll help you choose the renters insurance coverage that best fits your needs. Contact us today for a free renters insurance quote.
Directors and Officers Insurance (D&O)
This type of insurance covers directors and officers of a company for negligent acts, omissions, or misleading statements that result in a lawsuit against the organization. A variety of coverage types are available under this policy type, including corporate reimbursement coverage, entity coverage, and more.
Every business is unique, and the insurance plan that works for one business may not work for another. Contact us to find out how to get the liability insurance that best fits your needs.
Life insurance provides a safety net so that your family is protected. General term insurance can provide your family with income, cover debts and basic needs and even help pay for the mortgage or college. Freeway Insurance offers customizable policies to meet your needs and those of your loved ones.
Do you have the coverage you need?
Many people put off buying life insurance or don’t purchase enough coverage. In fact, J.D. Power and Associates states that 40% of Americans have no life insurance at all, and that 50 million people in the U.S. lack adequate insurance. Those who do buy life insurance often don’t understand how much to buy or what price is fair. Here are some tips on when and how to get the best insurance for you and your family:
Be honest on your application
One of the worst things you can do is to lie on your application. It’s tempting to fudge your answers “to get a better rate”–maybe even “forget” to mention a medical condition. One of the biggest lies is about tobacco use. Many people know that tobacco is bad for their health–and their insurance rates–so they lie about their use. Other lies involve drug use, depression, income (to qualify for higher coverage amounts) and traffic violations. A lie can result in a denied claim.
Older is not wiser in the life insurance market. Rates are based partially on age. The older you are, the closer you are to death. Each birthday you pass increases your rates. Your best strategy is to apply for insurance while you are young and healthy to qualify for the best rates.
Don’t purchase too little insurance
One of the biggest mistakes when buying life insurance is to get too little. Don’t be one of the 50 million people who are under-insured. Rather than follow a rule of thumb like “buy eight times your salary,” look at your individual situation. Consider your debts, as well as the income that your family is likely to lose from your passing. You want coverage that will pay off all your debt as well as provide income for your family. Health insurance, retirement account contributions and child care are all perks that your employer may be subsidizing–and that disappears once you are gone.
Be sure to really examine what expenses your family is likely to pay over the next 15 to 20 years, according to the ages of your dependents and the financial obligations your family has. Buy enough insurance to cover them.
Don’t light up:
Thinking of lighting up a cigarette while out hanging with friends? Think twice if you have a life insurance medical exam on the horizon. We already know that smoking increases your health risks, and smoking also increases your life insurance premiums–a lot. Smokers, even in good health, can expect to pay two, three or sometimes four times the amount that nonsmokers pay for life insurance. After you kick the smoking habit or lose 15 pounds to put you in a different class, you can ask your insurance company to re-evaluate your situation and lower your premiums.
Protect the future of your loved ones with term life insurance from Freeway Insurance. We offer a variety of low-cost plans, some without the medical exam requirement.
● Basic whole life insurance
● Term life insurance
Have you ever worried about what you would do if your dog bit someone while on your property, or if someone had an accident in your home? What if you were at fault in a car accident and your insurance didn't cover medical treatment for a victim in the accident?
Situations like these are why umbrella liability insurance exists. An umbrella policy picks up where your homeowners or automotive insurance policies leave off, for additional coverage, often up to a million dollars or more.
Comprehensive Umbrella Policies
Umbrella liability policies cover reimbursement of expenses and legal fees. If someone needs expensive medical treatment or sues you in court, such a policy could prevent you losing your assets, including your home, your savings, and your income. As you can imagine, an umbrella insurance policy can give you great peace of mind.
An umbrella policy offers broad coverage, meaning it not only covers you, but all family members living in your household, including your spouse, no matter where in the world they are.
You don't want your future to be compromised by an incident that exceeds your regular insurance policies. Contact us to discuss what umbrella policy is right for you. We can help you get the right coverage in place.
Errors & Omissions Insurance (E&O)
E&O insurance, also known as Professional Liability Insurance, covers professionals for negligence, as well as for errors or omissions that damage their clients or cause damage to a third party’s data. E&O insurance is especially important for licensed professionals such as accountants, attorneys, insurance agents, architects, engineers and technology companies.
Commercial Liability Insurance
Also known as “General Liability,” Commercial Liability Insurance is exactly what it sounds like: a broad type of policy that covers the general liability exposures a business might face during its normal day-to-day operations.
Many homeowners aren’t aware that standard home insurance does not cover flooding. With the increase in severe weather conditions in the United States over the last few years, this can present a crisis for those whose homes are not covered when intense rain, hurricanes, or tropical storms strike.
To help protect homeowners, renters, and business owners with flood insurance, Congress created the National Flood Insurance Program (NFIP) in 1968. Communities in high-risk areas for flooding work with NFIP to bring help to reduce the danger of flooding. If standards set by FEMA (the Federal Emergency Management Agency) are met or exceeded, participating communities are included in flood insurance programs that make this insurance affordable and accessible.
If you take out a flood insurance policy, you can select from one or both of two kinds of insurance. The first, building insurance, is exactly what it sounds like: insurance that covers a building, like a home or an office, if it's damaged in a flood.
Building insurance covers the structure of the building and its foundation, as well as the electrical and plumbing system. It also covers heating, ventilation, and air conditioning elements, like central air conditioners and furnaces, and water heaters. Major appliances can be covered by building insurance: stoves, dishwashers, and refrigerators. Building insurance also covers flood-damaged permanent carpeting that is installed over unfinished flooring.
The second type of flood insurance available covers the contents of a building. This can be purchased by building owners and by renters. This type of insurance covers personal belongings, such as clothing, electronics, window treatments, portable air conditioners, small appliances, clothing washers and dryers, and carpeting that is not already covered by building insurance.
Replacement Cost Value (RCV) is what you would need to spend to replace your damaged property. This applies to owners of single-family, primary residences for up to 80 percent of the building replacement cost, depending on the policy.
Actual Cash Value (ACV) is calculated by subtracting physical depreciation from the Replacement Cost Value at the time the property is lost, and is always used to reimburse the loss of personal property because of wear and tear.
To get an estimate