What is Excluded from an Umbrella Insurance Policy?

Umbrella insurance, which is often called excess liability insurance, is an optional, prudent financial & insurance decision for those living and/or working in and around Commerce, GA. And while its name – umbrella insurance, may seem to imply it covers an insured individual from every storm, the reality is that there are specific exclusions to this type of insurance, according to Hyman Brown Insurance Agency Inc.

An umbrella policy typically begins at $1,000,000 in liability protection and often has lower premiums when compared to other types of liability insurance.

Umbrella insurance performs as a supplemental liability insurance policy (as it extends standard policy limits) to other primary insurance liability policies and cannot be purchased as a standalone policy. It extends coverage for these types of policies for those living and working in the Commerce, GA area –

  • An automobile policy.
  • A home policy as a homeowner.
  • A home policy as a renter, among others.

An umbrella policy relates to liability. For example, if a visitor becomes injured on your property, the injured party may sue you if they believe you were at fault. If found to be at fault, the insurance would pay costs associated with medical bills or other expenses resulting from the event.

But what is excluded from the coverage offered by an umbrella policy?

An umbrella insurance policy does not cover the perils typically included in a standard policy as it only applies to liability issues. An umbrella insurance policy will not include coverage for –

  • One’s injuries.
  • Criminal & intentional actions.
  • Damage to the insured personal belongings.
  • Property damage/injuries under certain circumstances – uncovered RVs or dog breeds not covered.
  • Business-related damage or issues.
  • Exclusions listed in an affiliated policy.

Umbrella insurance is a bit of a unique insurance product that is often found to be quite beneficial to business owners, renters, and homeowners. For additional information, please contact the insurance professionals at Hyman Brown Insurance Agency Inc.

Commercial Insurance Requirements

Every state requires that businesses have a specific level of insurance to ensure that their workers and the business are protected during operation. Georgia is no different, with companies in Commerce, GA expected to abide by state-issued insurance requirements.  Hyman Brown Insurance Agency Inc. outlines what they entail and other covers that commercial businesses should consider getting.

Compulsory Commercial Insurance Requirements

Workers Compensation Insurance

Workers compensation insurance is one of the mandatory policies for anyone looking to start a business in Commerce, GA. However, it only applies to commercial companies that regularly employ three or more people, whether on a part-time or full-time basis. If any employee gets injured performing work, this insurance takes care of medical bills arising from such an incident. Lost wages and legal fees are also covered.

Commercial Auto Insurance

If your business owns any vehicles, commercial auto insurance will be compulsory. This includes automobiles used for business purposes such as making deliveries and transporting clients or employees. Claims covered under this policy include damage to the vehicle, liability costs, and uninsured or underinsured motorists.

Optional Insurance Policies

Business Owner’s Policy

A business owner’s policy, BOP, combines general liability insurance and property insurance into one. It provides a cost-effective option for businesses, allowing you to get insurance when employees get injured, property damage occurs, or disasters strike.

Cyber Liability Insurance

Increased cyber interactions in today’s world can be attributed to rampant cyber attacks, requiring businesses to safeguard themselves against data breaches. Cyber liability insurance covers costs such as legal fees, data recovery, and ransomware payments. Included is also the repair of damaged computer systems and lost revenue incurred during business interruptions.

Professional Liability Insurance

Also referred to as errors and omissions insurance, this policy covers damages resulting from negligence and violation of good faith. This insurance is mainly used by businesses that deal with consultation and professional services due to their likely encounters with erroneous advice or practices. Areas covered by this insurance include negligence lawsuits, business disputes, and defense fees.

Getting coverage for your business will go a long way in saving your company from any losses that could potentially risk its operation. At Hyman brown insurance agency Inc. we work round the clock to provide a structured policy that is right for your business. Get in touch with us today for your commercial insurance needs.

Things that home insurance won’t cover

If you have a mortgage on your home, home insurance will be a requirement. It offers a lot of protection. It covers the physical building itself from many types of peril. It protects your contents and your assets. You might think home insurance protects you from every possible thing that can go wrong but that isn’t the reality. Every home insurance policy has exclusions. Forewarned is forearmed. If you know what isn’t covered, you can make other arrangements to protect yourself. At Hyman Brown Insurance Agency Inc. in Commerce, GA, we have been in business for almost 60 years. Our goal is to build a lasting relationship with all of our customers. 

Owner negligence

Insurance companies expect homeowners to maintain their homes. That seems like a pretty simple thing but it encompasses things you may not think of. If your roof needs to be replaced and you put off doing it, your insurance company isn’t going to pay for damage to your interior. If you have termites, you will have to pay for the damage since treatments to avoid infestations are available. 

Flood

Floods are one of the most prevalent natural disasters. They cause an immense amount of damage every year. They are also not covered by home insurance. If the flood origin is inside your home, that is another story but groundwater, no. If you live in an area prone to flooding, you can purchase flood insurance through NFIP, the National Flood Insurance Program. 

Earth movement

The term earth movement encompasses several types of earth movement, earthquake, mudslides, and sinkholes. All of these can cause unthinkable damage to your home. You can purchase insurance separately from your home policy to cover these disasters. 

If you live in or near Commerce, GA, contact Hyman Brown Insurance Agency Inc. for any insurance needs you may have. 

What is the reason to get renters insurance in Georgia?

When you are looking for a new place to call home, Commerce, GA is a great option. Those that are in this area will enjoy the strong local economy and plenty of amenities. When you are looking to move into a new home, renting could be a great option as it offers a lot of benefits. If you are going to rent, it is important to get the right insurance. There are a few reasons that you will need to have renters insurance at all times.

Insurance Gives Important Coverage

A key reason that you should get renters insurance when you are in Georgia is that it will give you some very important coverage. Anyone that would like to rent a home will have a lot of personal assets that are stored in their home. Further, they will take on some liability risk at all times. When you get a proper renters insurance policy, it will give the coverage that you need to offset these risks.

Insurance is a Lease Requirement

You will also need to get a renters insurance policy because it will be a lease requirement. Anyone that would like to rent a property will need to comply with the provisions that are set in their property lease. As you are reading through a lease, you will find that most landlords are going to require that you have a full renters insurance policy in place during the term of your agreement. 

Getting a renters insurance policy in the Commerce, GA area is a good option for anyone that wants to move into a new rental property. If you would like to move into one here, you should call Hyman Brown Insurance Agency Inc. The team with Hyman Brown Insurance Agency Inc. will help you evaluate your needs and options and pick a new insurance plan. 

When is commercial insurance needed?

Anyone that would like to be a small business owner in the state of Georgia should consider coming to Commerce, GA. If you do come to this area of the state, you will enjoy the great amenities and strong local population base. There are a lot of opportunities for success in this area, but some risks as well. One way that you can offset these risks is by getting insurance. There are several situations when getting commercial insurance is needed.

When Raising Capital

One situation when you will need to have commercial insurance is when you are raising capital. Using a loan or investor equity is a good way to get a business running and off the ground. If you are going to take out money, you will have some insurance obligations. Most of the time, these stakeholders will want you to get a full commercial insurance policy as it will protect your company and their investment.

When Trying to Protect Business

You should also get commercial insurance if you simply want to protect your business. A quality commercial insurance policy is the best way to protect your company. With commercial insurance, you can get liability insurance and coverage for your assets. This will help to protect your business in many different challenging situations. 

You always need to make sure that you get a proper commercial insurance policy for your Commerce, GA area business. When you are looking for your next insurance policy, it would be a good idea for you to call Hyman Brown Insurance Agency Inc. If you do call Hyman Brown Insurance Agency Inc. you can get the support needed to understand the insurance needs that your business has. With their guidance, you can also choose an ideal policy for your business. 

Choosing the Right Home Insurance: What to Ask Your Agent

When you buy a new home that needs insurance, or you want to adjust the insurance policy on your current one, you may have some questions about what options are right for your needs. With a quality home insurance policy, you can get the protection you’re looking for and have plenty of peace of mind, as well. You don’t have to decide on that policy alone. At Hyman Brown Insurance Agency Inc. you can get the help and support you need from knowledgeable agents who understand coverage requirements in the Commerce, GA area.

Asking your agent plenty of questions matters. For example, you want to know whether the policy you have — or the one you’re considering — is the right one for you. Too little coverage isn’t a good idea, but you can also have too much coverage. Additionally, you’ll want to be sure to ask whether there are riders or additions to your policy that will be a good idea, so you can include coverage for larger items, antiques, or other options that may not be typical in the majority of policies. When in doubt, ask your agent.

Don’t settle for less than quality and value with your home insurance coverage. If you’re in the Commerce, GA area, reach out to us at Hyman Brown Insurance Agency Inc. today and let us help you get your questions answered. That way you can find the right policy, and feel comfortable with the protection you and your home will have for the future. By working with a trusted and professional agent, and by asking plenty of questions about the policy options you’re considering, you can get an insurance policy that’s perfect for your home and your specific needs and lifestyle, as well.

All About Renters Insurance

Some people may believe that it’s not necessary to have renters insurance because they don’t own the property. Knowing what renters insurance covers could mean you won’t make a costly mistake by not having it. The specialists at Hyman Brown Insurance Agency Inc in Commerce, GA would like you to know all about renters insurance so you can decide how much coverage you need.

What Renters Insurance Does Not Cover

Renting a home or an apartment may seem easy. You don’t have to worry about repairs to the apartment, such as plumbing issues or a broken dishwasher that came with the place. If the plumbing issues cause a leak that damages some of your items, you’ll be responsible for the replacement of your clothes or furniture. Your landlord is not responsible for your personal possessions that’s why you need renters insurance.

What Renters Insurance Does Cover

Renters insurance usually contains personal possession protection, liability, and living expenses.

  • Personal possession protection – includes the replacement of items that are lost due to fire, theft, vandalism, storms, or explosions. Check your policy to see what other perils are included. Usually, floods are not covered, but you can acquire flood insurance separately.
  • Liability – covers you if someone is injured or their property is damaged by you or your family. If your child shoots a BB gun into a neighbor’s window, liability will be there to cover you for the damage.
  • Living expenses – are provided under covered perils in your policy. If you need to leave your home while repairs are being done, then you’ll receive additional living expenses.

Having renters insurance could be the difference between replacing your destroyed items yourself or being reimbursed for the cost. Call or stop by the Hyman Brown Insurance Agency Inc in Commerce, GA and speak to one of their specialists about renters insurance.

What benefits does umbrella insurance provide to someone?

Anyone that lives in Commerce, GA should spend time considering their personal insurance needs. One form of insurance that can help provide someone with peace of mind and personal liability protection is umbrella insurance. This type of insurance protection will provide a variety of benefits to someone, which is not matched by other forms of personal liability insurance. 

Protects for More Scenarios

One of the main benefits of getting umbrella insurance is that it can give you coverage for more scenarios. Most people are going to have liability coverage through their home and auto policies. However, these can limit the number of situations you will be covered for. If you get an umbrella insurance policy, it will offer you more personal liability coverage that may not be covered by your existing home and auto policies. 

Gives Additional Coverage

Another benefit of umbrella coverage is that it will give you more coverage on top of your base policies. A home and auto policy will have policy limits. If the total damages exceed these limits, you will need to pay for the balance out of pocket. Fortunately, you can get umbrella coverage that will give you protection on top of these policies. 

Anyone that is in the Commerce, GA area should spend time considering all of their personal insurance needs. Getting umbrella coverage is a good idea for a lot of people. When you are shopping for a new policy here, you should call the team at Hyman Brown Insurance Agency Inc. If you do reach out to Hyman Brown Insurance Agency Inc. you are going to receive the guidance and support needed to determine if coverage is right for you. Based on this, you could pick a policy that will offer appropriate protection.

Auto Insurance Coverage Options

While all motorists in Georgia are required to have at least liability and underinsured/uninsured auto insurance coverage, it may be best for you and your situation to obtain more auto insurance coverage. If you borrowed money to purchase your vehicle from a lender, you are probably already required to have more coverage than simple liability insurance. There are many different types of auto insurance coverage that are available to protect your investment in your vehicle and here are a few of the most popular coverage options:

Comprehensive Insurance

Comprehensive insurance coverage will pay for the replacement cost of your vehicle if it is stolen, vandalized, or totaled in an accident. It will also cover the replacement cost or cost of repairs if your vehicle is damaged by a fire or a natural disaster, such as a tornado or hurricane. Many vehicle owners opt for this coverage for the peace of mind it brings in knowing their vehicle will be replaced or repaired if any of these unforeseen events happen.

Collision Insurance

This type of policy will cover your vehicle if you are involved in a crash, whether it is your fault or someone else’s fault. It will also cover any property damage that you cause. For example, if you have an accident because you hit the garage door of your friend’s house, it will pay to cover the garage door or if you hit a building, it can pay for any damage to the building.

To create an auto insurance policy that works best for you and your situation, you will want to enlist the help of a trusted and experienced auto insurance agent. Contact the knowledgeable and skilled auto insurance agents at Hyman Brown Insurance Agency Inc. in Commerce, GA.

What Small Businesses Need To Know About Commercial Insurance

Owning your own business is quite an accomplishment. The thrill of ownership is what inspires many people to start their business in the first place. However, along with that ownership comes responsibility and in some cases liability. At Hyman Brown Insurance Agency Inc, serving Commerce, GA, we love to take the opportunity to educate our clients and future clients on how they can better protect their small businesses. Keep reading to learn what you need to know about commercial insurance. 

What is Commercial Insurance?

Commercial insurance is a unique combination of insurance products, specifically designed for the small business owner. These insurance products provide protection that is needed by business owners in order to protect the investment of time and money they have put into their company. 

What Is Covered Under Commercial Insurance?

Commercial insurance can be customized to suit the specific needs of your particular company. However, commercial insurance does cover some general areas which will be standard for most policies. The general areas of coverage can include the following:

Property Damage- Property damage insurance for a business is similar to that for a homeowner. If your company operates a physical location, your insurance will kick in if property or equipment is damaged or lost due to fire, natural disaster, or theft. This type of coverage can be very important to the long term financial health of your business. 

Auto Insurance- Many companies operate vehicles as part of their business. Commercial insurance can provide protection for these vehicles as well as those operating the vehicles. 

Liability- This is probably one of the most critical forms of insurance for the small business owner. If someone is injured on your property or through the use of your goods and services, liability insurance will pay medical expenses or legal expenses if there are any. This type of insurance will also cover employees injured at work. 

If you would like to learn more, please contact our staff at Hyman Brown Insurance Agency Inc, serving Commerce, GA.