Category Archives: Florida

Six Steps to a Better Florida Boat Insurance Policy

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Why Having The Right Boat Insurance Can Give You Back Your Sanity

Everybody loves Florida. And if you own a boat, you quite possibly love the sunshine state even more. Boats are the gateway to endless hours of fun filled hours, spent rolling up and down our great state's shores. For some of us, owning a boat is one of the reasons we live in Florida, even though, as boat owners, we know all about the challenges we sometime have to face. The good news is that having the right Florida Boat Insurance policy can go a long way in ensuring our peace of mind.

If you own a boat, or are planning to acquire one, here are a few points worth bearing in mind:

  • Florida is frequently affected by hurricanes. For that reason, some underwriters might require that you move your boat away from the hurricane landing zone, even if that means moving it out of state.
  • The size and value of your boat may play a role as to whether a limit is set by some insurance companies
  • If you travel to Bahamas with your boat, you may be in luck as some companies include Bahamas in their coverage
  • Some companies will not ensure boats if they are 20 years old or more
  • Capsized catamarans that are not easily righted may not be covered
  • It is cheaper to ensure a sailboat then a speedboat
  • Some companies will require that be a resident of Florida as they want to ensure that you do not fall into the category of absentee owner.
  • Separate windstorm deductible are sometimes put in place

Find out how you can too can protect your boat

The right boat insurance can make a real difference. Make sure yours is not a time bomb

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1) No, your homeowners insurance policy does not extend to your boat.

It's a question that is often asked by new boat owners:

Is my boat covered under my existing homeowner's policy?

It is not an unreasonable question because, in some cases, some homeowners policies will include coverage for very small boats, preferably without an engine. A small sailboat for example that you take to your local lake, or a really small boat under $10.000 might be covered, but that's about it. Anything over ten thousand dollars and you will need a separate policy.

Just like you need separate coverage for you car, so you will need separate coverage for your boat

[spacer height="20px"]2) Is a boat insurance policy the same as a car insurance policy?

Yes and no. Yes, because just like for a car, a Florida boat insurance covers things like:

  • Bodily injury inflicted on others
  • Property damage (docks, other boats)

You can also purchase coverage against:

  • Theft
  • Vandalism
  • Flood and fire
  • Personal property coverage for your fishing equipment
  • Uninsured boater insurance
  • Tow assistance.

No, because unlike car policies, it is possible to suspend, or lay up coverage for specific periods. For example, you might decide that you will be unlikely to use your boat during the month of December (particularly if it is stored in a dry and covered storage facility) and suspend your coverage during that period.  Just make sure you don't take your boat out on a December sunny day, only to run into situation during which you might discover that you coverage is suspended.

[spacer height="20px"]3) How do you keep the cost down?

Your shiny new boat cost you a fair chunk of your savings but the moment you take it out for a spin, it starts depreciating.

Boat insurance companies have the option of an "agreed value" (sticker price) as opposed to the "market value". This means that with an "agreed value" any coverage amount paid by the insurance company will not exceed that agreed value. This option is better than the market value, which takes into consideration the full value of depreciation. In other words, a boat bought today will have a different market value 5 years down the line.

[spacer height="20px"]4) How do you keep the cost down?

Your shiny new boat cost you a fair chunk of your savings but the moment you take it out for a spin, it starts depreciating.

Boat insurance companies have the option of an "agreed value" (sticker price) as opposed to the "market value". This means that with an "agreed value" any coverage amount paid by the insurance company will not exceed that agreed value. This option is better than the market value, which takes into consideration the full value of depreciation. In other words, a boat bought today will have a different market value 5 years down the line.

[spacer height="20px"]5) Is there a discount if I keep my boat out of the water

The short answer to this is yes but with the following caveat. If your tow your boat, then the auto policy will most likely cover damages in the event of an accident. Like backing up into someone else's car. Or property.

[su_note]Questions about Florida Car Insurance? Let Liz and her team of experts give you the answer that matters.[/su_note]
Based on the above assumption, it is crucial to make the following clarifications:

  1. Your auto policy only covers the limits contained theirin
  2. Your homeowners insurance will cover some of the damages incurred if you boat is parked on your property and may, or may not include theft or vandalism
  3. Your boat insurance does not extend to situations when your boat is being transported on land
    Now, here is the bad news.

[spacer height="20px"]6) Consider an umbrella policy

An addition to both your homeowners and car insurance policy, and umbrella policy will extend the limitations as discussed above and provide additional coverage, like personal injuries.

Navigational restrictions: Having a boat may give you the freedom to go anywhere, and if your boat is large enough that you can take it beyond the immediate shore line of Florida, be aware that most policies will contain a navigational warranty. In other words, your policy may not cover the areas you wish to navigate to.

[spacer height="20px"]Final Thoughts

Owning a boat can be a lot of fun but with it comes specific responsibilities. Shopping for the right boat insurance coverage can be overwhelming due to the complexity of this particular insurance field. Make sure you talk to a real expert. If you haven't bought the ship of your dreams yet, ask questions. Be specific. Your agent will be able to recommend a coverage policy that will meet your needs.

Be smart, listen to the advice of your agent. If you're new to boating, take a boating class and become a better, safer and well trained boater. A boating class may even qualify you for discount.

Above all, stay safe and enjoy.

Importance of Retail Store Insurance: How to Find the BEST Insurance Policy?

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Florida Business Insurance

Do you own a retail store or shop of your own? Then you must have a retail store insurance for that too. If you do not have, then you need to work on it fast. There are so many risks that your retail store can go through. In order to protect your store from all those risks and dangers, you must have a proper insurance coverage for the store. It is always better to work on improving your business more and more. The insurance policy for a retail store acts like a risk management tool to cover the losses and damages caused. By paying relatively smaller amount as premium to the insurance company, you can protect your retail store against a significant financial loss and the possibility of the store going bankrupt.

Protect your store

Your store is your livelihood. Don't leave its protection to chance.

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What Are The Major Risks Faced By Retail Store?

Owning a retail store is a great thing but with that comes bigger responsibilities too. Of course, your retail store is open to many customers and also there are some employees who work over there. Hence, there are also some risks associated with this. It can be man-made as well as natural too. Some of the common risks that a retail store may face are:

  • Physical damages by nature: This can happen anytime and anywhere due to many reasons. Specially In Florida where hurricanes historically affect the state every year.
  • Man-made damages: There can be a huge risk of fire damage in your retail store which can cause significant destruction. Of course vandalism and theft are a huge problems for retail stores. Theft cost retailers $32 billion a year.
  • Bodily injuries: Accidents can happen anywhere and anytime, be it customer or employee. If any of your customers get injured while visiting the store, the business may have to pay for the medical treatment.
  • Sleep and Fall claims file against retailers are on the increase. Not only it can very costly to settle with the client but the cost of hiring a competent attorney is about $75,000.

In order to cover all these risks, there are some insurance policies especially for retail store. These policies can provide coverage for all the losses and damages caused by the risks mentioned above. Simply put a $50,000 or $100,000 loss will put many retail stores out of business. You cant risk your business and the lively hood of your family by choosing not to purchase this protection.

How Costly Can These Risks Be For Your Business?

One of the most important steps to avoid these losses is to have a proper retail store insurance policy that will cover all the probable damages that can be caused to your store. Simply put a $50,000 or $100,000 loss will put many retail stores out of business. You can't risk your business and the lively hood of your family by choosing not to purchase this protection.

Steps To Lower Your Insurance Premium

The insurance premium for retail stores does not have to be expensive. When you talk to an commercial insurance agent at L and C insurance provider we go through steps to help and lower your premium. Here are some of the essential steps for you to take in order to save you money

  1. Remove unneeded or overlapping coverage.
    Make sure the coverage is up to date. There are often some unneeded coverages included in the policy which are not needed but still it adds to the premium.  All retail stores are not the same, coverage should be tailor to your specific needs.
  2. Research to find the best deal.
    There are many insurance companies in the market that provides the best insurance policy at a much lower rate than others. Of course, you have to do a bit of researches before you end up with them.  Let us at L and C insurance help on that research by obtaining 14 Different store insurance quotes.  We only work with Rated A+ insurance companies
  3. Ask for a list of the discounts.
    Often when you talk with the agent, you can ask for discounts. These discounts can help you to reduce your insurance premium. But are you reviewing the quote provided to make sure the discounts are listed. There are 10 major discounts available to retail stores. Make sure that all of the ones applicable to your store are included.
  4. Pay the entire premium upfront.
    Generally the premiums for the insurance are paid monthly. But if you pay your entire premium upfront, then you can get savings on average of 20%. This can be a great benefit for you to lower your insurance premium for the retail store.

Insurance is one of the things people think they can do without... Until they need it. Don't make the mistake of underestimating the cost of poor or even worse, no insurance coverage. At LNC Insurance Providers, we specialize in providing tailor made services to customers throughout Florida.

We pride ourselves in excellence and always go the extra step. Whether you need a personal insurance or protection for your place of business, we want to help.

Conclusion

Thus, it is evident that having a retail store insurance is very much important for your business. Weather, crime and accidents cannot be predicted and thus damages can happen anytime. You can at least be at complete peace of mind if you know that your retail store is completely insured. So, make sure to take a quick action and let the agents at L and C insurance help you save time and money on your store insurance.

Why do Tampa Drivers Pay the Highest Auto Insurance Rates

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In Florida, Tampa Leads the Way

The overal trend for Florida car insurance has been going upwards in recent years as Florida drivers are getting themselves into more and more accidents. No-where has this trend been so evident than in Tampa.

In 2016, car insurance premiums rose by 14 percent throughout the sunshine state.

Car insurance rates are dependent on a number of factors, including location. Drivers living in cities are paying more for their car insurance policies than those living in rural areas. According to statistical data, traffic density in urban population is responsible for more accidents than in other areas. And it's not just the sheer volume that causes more accidents: speed is another consideration as drivers tend to drive faster on highways. Traffic, speed and the increasing number of cars on any given road system is a sure formula for an increase in car related accidents, collisions etc.

Why are Tampa car insurance premiums on the rise?

While it is impossible to give a definitive answer to this question, here are a few factors to consider:

  • Population growth
    More and more people live in Florida.  In Tampa alone, the population grew to 3 million residents in 2016 adding over 60000 residents through migration and natural increases. More people means more drivers and this increase is one of the reasons why the cost of car insurance in Tampa is currently the highest in the state.
  • The Role of PIP
    Personal injury protection (PIP) to the tune of $10,000 has been mandatory in the state of Florida. Introduced to cover minor accidents claims (regardless of who is at fault) PIP is seen as one the reasons why insurance premiums have gone up in recent years.
  • Agressive drivers
  • Older drivers
  • Hit and run incidents
  • Uninsured drivers

Whether you live in Tampa, or anywhere else in Florida, you can avail yourself of the most affordable car insurance, without having to compromise on quality, by contacting  L & C Insurance Providers. Our mission is to always be one step ahead of our competitors in terms of knowledge and experience.

We specialize in Florida car insurance and stand ready to help you.

L & C Insurance Providers in Florida shops all the major carriers to find the best policy and the best rate.  Easy, Low-Cost and Worry Free.

That's the L & C Insurance Providers Insurance promise.

Make sure you're protected

The value of professionaly written auto insurance is often realized after an accident has occured. Don't leave it until it's too late:

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Organized Crime

A worrying in trend in Florida (and other states as well) is the increasing number of staged automobile accidents. This particular challenge is so unique that we've decided to list as a separate paragraph in this article.

A staged automobile accident is one in which organized criminal groups maneuver unsuspecting drivers into crashes so that they might make insurance claims. These crashes are literraly "manufactured" and the perpetrators make money by submitting claims which then have a direct effect in premium costs.

Staged accidents can take many forms, four of which are very common:

  1. A vehicle overtakes you, drives into your lane and jams on the breaks causing a rear-end collusion. Some criminals take this scenario to the next level by simulating neck or back injuries caused by these collisions. Large injury and collision claims are then submitted against your policy.
  2. As you begin to merge into traffic, you are encouraged by a "benevolent" driver who appears to slow down and then waves for you to move forward. As you drive into the space you think has just been vacated, the said driver then accelerates in crashes into you. This scenario can also take place in parking lots.
  3. You are driving in the inside lane, and as you turn left, inadvertently drift closer to the lane on your right.  That is all the encouragement a dishonest driver might need to ram right into you.
  4. You are a the scene of an accident and are approached by an individual who then requires that you take him or her to a medical faculty for treatment, or to a shady lawyer for assistance. 

A small bent becomes takes a life of its own: These staged accidents often times result in limited damages but submitted claims indicate otherwise and describe situations which do not reflect the reality.

Texting While Driving

Our cell phones have changed our lives. We are living in an era where the average person could not possibly envisage a life without one of these devices. Technological advancements have been such that cell phones have become part and parcel of our daily lives.  They can also cause serious accidents that often result in very serious injuries and even fatalities. 

If you text while you drive, not only are you endangering your own life but that of your passengers and innocent by-standers.

Accidents caused by drivers who text while driving cause insurance premiums to rise as well.

 

Cost Comparison: Florida Auto Insurance
(You can sort both the cities and costs columns in the order of your choice)
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How can I lover my Florida auto insurance premium?

The first step you can take right now to get you on your way to a more affordable insurance policy is to call us:

 

An auto insurance policy in Florida is determined by where you live, and what you want your policy to cover. A clean driver's license and good driving history will usually be in your favor when looking for better deals. Some cars are more expensive to ensure than others. For example, sport cars can mean higher premiums as they are considered to be in the higher risk bracket.

Raise your deductible to keep your monthly premium manageable, but do remember that these deductibles are due upon repair.  The higher they are, the more money you will have to pay to honor your part of the deal.

Obtaining multiple coverage through the same insurance agency, for example Florida Homeowners Insurance and car insurance might also lower your monthly premiums.

Restaurant Insurance for Florida Businesses

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Florida Restaurant Business Insurance

Owning and operating a dining establishment in Florida, usually requires plenty of work. Many elements need to come together in order for a restaurant to succeed. If you think about it, a stocked freezer and pantry and ensuring that there are sufficient tables in the dining area are only the basic principles of operating this sort of business. Your foremost concern as a restaurateur should be the proper protection of your business. Regardless of whether you're just about to venture into the food and beverage industry or have already been established, restaurant insurance Florida is something you will need.

What is restaurant insurance Florida?

Generally, restaurant insurance is a kind of business insurance catering particularly to the ones in the food and beverage industry. Regardless of the size of your company, there are always a number of possible risks. This is true whether you operate a small diner or coffee shop, or a Michelin-starred bistro. This coverage is coverage against a number of problems, which can include but aren't restricted to busted equipment, accidents, and even liability lawsuits. Generally, this type of cover isn't your typical general business insurance. It has many aspects that tailor to the demands of a restaurant. This means this type of restaurant business insurance is available in different types. The following are some of the insurance coverage policies under Restaurant Insurance Florida.

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You'be worked too hard to lose it all because you don't have insurance for your restaurant

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WHO SHOULD TAKE OUT RESTAURANT OR BAR

If you serve beverages or food your insurance needs are different than standard merchant businesses. Here are some of the businesses this includes:

  • Restaurants
  • Hotels
  • Motels
  • Cafes
  • Bars
  • Inns
  • Dance clubs and night clubs
  • Resorts
  • Sandwich shops
  • Restaurant/gas station combos
  • Casinos
  • Portable or mobile lunch services
  • Catering companies

TYPICAL FOOD SERVICE INSURANCE

if you want to properly insure your food service business, you'll want to consider these insurance options:

  • General liability insurance
  • Commercial property coverage
  • Workman compensation
  • Product liability - food or beverage items can sometimes cause illness and you will be liable.
  • Building contents - this can include furnishings and customer possessions

OPTIONS FOR RESTAURANT INSURANCE

Your insurance professional may recommend the following options for your food service policy:

  • Liquor liability coverage - do you plan to serve alcoholic beverages to customers? If someone gets into a traffic accident after drinking alcohol at your establishment, you might be sued for damages. Liquor liability covers problems like these.
  • Business interruption coverage - Reimburses lost income due to downtime associated with a damage or loss claim.
  • Employee health insurance coverage
  • Replacement cost insurance - if your business is destroyed by a catastrophe, your insurance may pay you the fair market value of the place. However, this can be a huge problem because it may cost much more than that to rebuild. This is why replacement cost is the best food service insurance option.
  • Earthquake insurance
  • Fire liability insurance - what will you do if a fire starts in the kitchen and spreads to other buildings? Fire liability protects you from these legal problems.
  • Fine art coverage
  • Equipment breakdown insurance
  • Flood coverage
  • Sewer backup insurance
  • Food spoilage
  • Sign insurance
  • Cyber insurance - protects you from problems associated with stolen data.

General Liability

This is the most common of the many different covers encompassing this type of insurance coverage. It's a policy that protects you from common problems occurring within your line of work. This could consist of situations such as someone slipping and falling because of wet floors, food poisoning issues, as well as other claims which may come from different sources. This policy will be handy considering the fact that customers sue for almost anything nowadays. Plan options vary depending on provider, but keep in mind that this should be one of the more flexible policies:

Commercial property coverage

Purchasing your restaurant space is a big investment. You can save money on rent. You will also be in full control of your work area and determine any changes you require. Getting cover policy for your place of business safeguards you from unexpected events like a fire or natural calamities. You won't have to worry about this if you're only leasing a unit, or if you do not own the structure where your restaurant is. The owners are going to have acquired this insurance already.

Equipment Breakdown coverage

This form of restaurant insurance is vital as you use lots of pricey equipment in your restaurant. Blast freezers, state-of-the-art ovens, and other cooking equipment cost you a lot of money. The manufacturer's warranty you get is limited, therefore it is not enough. You should safeguard these investments by obtaining insurance. Your cover provider will reimburse you if there is theft or damage due to accident or natural disaster. This policy covers not only your appliances but other fittings inside your establishment that the building insurance will not cover.

Liquor Liability

If your business sells, serves, or allows any alcoholic beverages to be consumed at your establishment, Liquor Liability protects you should your clients or patrons sue your business for damages related to their intoxication

Workman Compensation

The law mandates you to provide insurance for your employees. This is particularly essential for restaurant owners because your people deal with fire and gas each day. Your workers are your most vital investment, and you must safeguard their lives and their health. Your insurance company might cover any expenses if your employees suffer from an accident in your establishment.

Food spoilage

Cleanliness is a must for every restaurant kitchen, but you can't say for sure when something unexpected could get in your food. Insurance providers can take care of damages and legal costs in the unfortunate event that a customer complains about food contamination. It's best to be ready for all kinds of events than to be sorry and shell out a significant amount of money later on.

Vehicle Liability

Generally, there are many restaurants that have restaurant cars that make deliveries. if you have a vehicle for your restaurant, for transport or delivery, make sure that it is insured.

Business Interruption Coverage

This type of insurance coverage helps you when there is an interruption in a major operation of the business or company. It may be a loss of income as a result of disasters or damages. Such case can affect your cash flow and profit ultimately. Business interruption coverage protects you from these situations and gives peace of mind that operations and income is in a good continuous flow.

Getting the Best Restaurant and Bar Insurance In Florida

Usually, without coverage, it is too risky in running a restaurant. This is because it involves various types of risks. The risks involved are not only intensive but also numerous. If these short-term or unexpected risks are not handled properly, they will have a deteriorating effect on the business in the long run. Not having any insurance coverage as it might prove fatal. However, in order to get a restaurant insurance, you have to find a competent insurance company for you to choose the insurance policy your business needs.

If you want to make sure your business is fully protected, talk to our commercial insurance agents at L and C Insurance Providers. We will evaluate your risks factors and provide you with and policy that fits your budget and needs. We do this by comparing the different policy options with our 25 + partnered insurance companies.