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Miami, FL 33186

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Why You Need Flood Insurance

Flood insurance is an important type of coverage that can fill in the gap that is present in standard home insurance. Home insurance generally doesn’t include any protection from floods that are caused by nature, and flood insurance can protect you against many types of flooding. Having flood insurance allows you to protect your home against a common risk. Without flood insurance, you would have to pay for all of the damage the flood caused, and it can be highly destructive.

If you don’t have flood insurance, give us a call at Prestige Insurance Group in Miami, FL to find out more. 

Why Everyone Needs Flood Insurance

It’s common for homeowners to only think about flood insurance if they live in a high-risk flooding area. These areas tend to be near water in areas where flooding is relatively common, or the slope of the land may lead to flooding. What they don’t know is that about 20% of all the claims for floods come from places that are not high-risk areas. Those who don’t have flood insurance may face tens of thousands of dollars, or even more, in repairs or even rebuilding. The National Flood Insurance Program recommends that every homeowner should have this insurance coverage.

Backing for Flood Insurance

Flood insurance works a little differently from many other insurance types. It is sponsored and backed by the government through the National Flood Insurance Program. The cost for flood insurance is always the same no matter where it is purchased from for this reason. The government sets the pricing and the terms of this type of insurance. This can be highly convenient for people who don’t want to shop around for the insurance they need. 

Protect Yourself With Flood Insurance

Most homeowners should have flood insurance, especially in Florida. Call us at Prestige Insurance Group in Miami, FL to get started. 

What Does Condo Insurance Cover?

Most condo policies also include coverage for common area items such as locks on doors, hallways, and elevators, lightning in the building, and liability if someone is hurt on your unit’s property or in the common areas. Many condo features can be included in the building’s policy, like basic liability protection. Call Prestige Insurance Group for inquiries in Miami, FL. 

What the Condo Insurance Entails 

Condo insurance will cover your personal belongings, your liability, and any other risks associated with living in a condo or apartment. The standard policy covers your personal belongings, including furnishings, clothing, fixtures, and appliances, while the extended policy also covers the property you rent out to tenants. 

Condo insurance also includes liability coverage in case someone is injured on the premises or if someone is hurt on your property due to an insurable risk such as faulty wiring or a slippery floor. Some condos have building policies requiring you to sign in to live there. It is vital that you read the policies carefully, so you know exactly what they cover and what they don’t. 

Most building policies don’t cover damage caused by floods or earthquakes but only those that occur because of poor construction or lack of maintenance by the condo board. Factors that can impact the cost of your condo insurance include where you live (location), the type of coverage you choose, and the length of time with your current insurance provider. 

Some typical condo insurance policies include protection against loss from fire, lightning, windstorm, smoke, vandalism, theft, and water damage. Coverage typically includes replacing the building and contents, repair of the building, and medical expenses for the residents. The policies typically cover damage to the interior of the condo building that occurs during an incident. 

The insurance is primarily intended to protect the personal property of the insured person(s). However, coverage for items like guest rooms, other common areas, and landscaping is generally provided by homeowners’ or renters’ insurance, not condo insurance. Condo owners’ policies typically cover damage to your unit. 

Final Words 

Condo insurance covers the value of your unit in the event of a claim, such as a cost to repair or rebuild your unit. It also covers liability for guests, common areas, and the physical structure of your unit. The cost of condo insurance varies depending on the property and location. Generally, the more expensive the property, the higher the cost. For expert help in Miami, FL, visit or call Prestige Insurance Group.

Is there anything auto insurance doesn’t cover?

Your car insurance from Prestige Insurance Group may save you during accidents and many other incidents in Miami, FL. But like most things in life, your car insurance isn’t entirely faultless. There are “holes” in your standard car insurance policy, and you need to know about them so that you can purchase “add-ons” to boost your coverage.

Here are potential areas not likely to be covered by your car insurance:

  • Drivers excluded in your policy: If you want someone to drive your vehicle, you should inform your insurer. Otherwise, the damage they cause while driving your vehicle may not be covered. Parents make a common mistake of letting their sons and daughters drive their cars without including them in their policies. Always inform your insurer when sharing your vehicle with someone, even if they live with you.
  • Items in your vehicle: Stolen personal items in your car aren’t covered by your car insurance. So, if your laptop or phone is stolen while inside your vehicle, you may have to file a claim with your home or renters insurance company.
  • Modifications: Tune-ups to improve performance and “mods” to make your vehicle aesthetically appealing aren’t covered by typical car insurance. However, you can purchase a special insurance policy to cover these modifications.
  • Business use: Your standard auto insurance doesn’t protect your car when using it to run operations of a commercial nature. Always upgrade personal auto insurance to commercial when using your vehicle for business reasons.
  • Wear and tear: If your paint starts fading away or your suspension starts making creaky sounds, don’t file a claim with your insurance because maintenance issues aren’t covered by auto insurance.

Want to learn more about car insurance in Miami, FL? Please get in touch with Prestige Insurance Group to help you understand the nitty-gritty of your car insurance policy.

 

Protect your business with a comprehensive commercial policy

Prestige Insurance Group is here to help Miami, FL businesses with all of their insurance needs. If you want to upgrade your current commercial policy to one that is more comprehensive, we can help. Give us a call or stop by our office today to learn more about the options that are available to business owners in our area.

Why your business may need comprehensive insurance

When it comes to protecting your Miami-based business, you may have some questions about the right type of insurance and what will best meet your needs. Many small business owners start out with a primary policy that meets their basic needs. However, as the company grows, so too does the need for a more comprehensive commercial insurance policy.

If you have found yourself at the stage of your business’s growth where it’s time to upgrade your commercial insurance policy, there’s no reason to postpone making the change. Procrastination can only help to create gaps in your insurance coverage.

With a comprehensive policy, you can obtain a higher level of protection when it comes to losses to your property, equipment, or inventory. This type of policy can also provide protection in the event that your business has to shut down due to a covered event. This cash flow protection can make coming back after a closure much more doable and a lot less stressful for you.

Let us help you find the insurance that’s right for your business

If you are a business operator or owner in the greater Miami, FL area, you can rely on Prestige Insurance Group for all of your commercial insurance needs. Give our office a call today and set up an introductory consultation. We look forward to working with you!

How to make and store a home inventory

 When you need to file a claim with your home insurance, you will be required to prove what your home looked like and what you had before the peril happened. That is where your home inventory comes in very handy. At Prestige Insurance Group in Miami, FL, we work for you, our customers, and we make sure that if you have to file a claim, it will go smoothly. There is a lot of stress involved in living with household damage, and you don’t want to add more stress about how easily the claim is processed. 

You can start your home inventory in any room of your home, but you will need to have a pad, pen, and camera. You will list the items in your room and provide as many pictures as possible of the room from a few different angles. Be sure to look up and down and open any closet or drawers so that everything gets listed. If you have sales slips or receipts, attach them to the correct room.

Be as detailed as possible. Give the color, the size, the brand name, and if it’s electronic, the model and serial number. The more you include, the better. Do the same thing in every room. Go into the basement, go to the attic, and don’t forget the garage. When you are done, it is time to think about where you will store your inventory. 

Ideally, you won’t store your inventory in your home. Your inventory could be destroyed along with your home. Make sure that you make a copy at least to store in the cloud so that it can be easily accessed no matter where you are when you need it. 

Contact Prestige Insurance Group in Miami, FL to discuss your home insurance, whether you need a review or a new policy.  

 

What Does Classic Car Insurance Cover?

You could indeed get a standard auto insurance policy for your classic car. However, you will not have access to many of the benefits provided by a classic car insurance policy, such as reimbursement of the full value in the event of total loss.

A standard auto insurance policy does not take into consideration the special needs of a classic car owner in Miami, FL. Classic car insurance is specifically designed to cover situations unique to classic cars, such as restoration, exhibition, and more. At Prestige Insurance Group, we understand that special cars have special needs, we are here to provide you with the right coverage to protect your investment.

Coverage Options

A standard car insurance policy typically includes bodily injury liability, collision insurance, comprehensive insurance, medical payments, property damage liability, and uninsured/uninsured motorist insurance. A classic car insurance policy will usually include all of these coverage types as well as additional coverage that is designed to meet the additional needs of classic vehicles, such as:

  • Agreed value for collision and comprehensive coverage will reimburse you for the total value of the car at the time you purchased your classic car insurance policy in the event of a total loss
  • Restoration coverage for cars still in the restoration stage that is not yet drivable
  • Spare parts coverage for tools and accessories that you have stored away from the vehicle in the event of theft or damage
  • Memorabilia contents coverage for additional valuable pieces such as dashboard accessories and antique license plates that are itemized on a contents list
  • Auto show medical reimbursement should someone be injured at an event where you are showing your classic car
  • No attendance required covers your car when it is on display when you are not with it

Learn more about the available types of classic car coverage available for collectors in Miami, FL when you call Prestige Insurance Group.

Is renter’s insurance necessary in Miami?

Count on the Prestige Insurance Group for all of your insurance needs. If you live in the greater Miami FL area, you can rely on us! Give us a call today and learn more about the policy options that are available in our area.

The short answer is YES, renter’s insurance is necessary in Miami

And it’s not just in Miami. In fact, renter’s insurance is a great idea no matter where you live! There are a number of great benefits to renter’s insurance. The most obvious one is that it can help protect your belongings from damage, theft, or destruction. If you rent an apartment, condo, or home, having renter’s insurance is a smart move. 

Finding out that your home has been robbed or has undergone some catastrophe can be easier to deal with when you have the right coverage in place. Protect your belongings and ensure that you can recover from any loss. There’s no reason to have to start all over again if you are a victim of theft, or experience some other type of loss. With a robust renter’s insurance policy in place, you can be a step ahead when it comes to rebuilding your life. 

Don’t wait until it’s too late! Give us a call today and learn more about how renter’s insurance can help protect your possessions and your life. 

Find out more about the different types of renter’s insurance that are available in our area

The team at Prestige Insurance Group is here to help residents in Miami, FL find the protection they need. This includes both renters and homeowners, so give us a call today!

Renters Insurance Coverage: Why Do You Need It?

Renters insurance is often one of the least understood and utilized options available on the market. At Prestige Insurance Group, we can help Miami, FL, area renters better understand why they need this policy. Read on to learn more about their many benefits. 

Reasons Why You Need Renters Insurance 

If you don’t have a renters insurance policy, there are a few reasons why you need one right away. Just a few reasons why renters insurance is such a great choice include how:

  • Your Landlord Won’t Protect You – Your landlord has insurance for your home or apartment. However, it covers the structural elements of the house and not your goods. 
  • Total Loss Isn’t Uncommon – Do you know what happens if your rental home burns down and you don’t have renters insurance? Everything you own is gone without compensation. 
  • Renters Insurance Helps With Relocation – After a disaster destroys a rental home, where are you going to stay? Renters insurance will cover your expenses while you’re there. 
  • It Minimizes Homelessness Risk – It’s not uncommon for rental loss to end up causing homelessness for many people. Avoid this risk by getting renters insurance.
  • Comes With a Reasonable Price – Most people don’t realize that renters insurance is not a significant expense. Many people can get it without having to do any inspections on the home, too. 

Whatever your needs, your insurance company can provide the long-term help you need to avoid serious complications. Doing so will minimize your risk of intensive financial loss.

Managing This Potential Risk 

If you rent a home and want to keep yourself safe from severe financial loss, you need a renters insurance policy. Please don’t hesitate to contact us at Prestige Insurance Group to learn more. We can help Miami, FL residents manage this concern and avoid long-term financial ramifications.

Florida RV Insurance – What You Need To Know About RV Insurance

Florida is a popular destination for vacations and the retirement contingent and with this popularity RV’s or Recreational Vehicles are very popular in the state.  Insurance requirements for RV’s are different than your regular auto insurance as RV’s are much larger vehicles on the road with a higher degree of possible damage in the event of an accident.  Whether you’re in Jacksonville, FL or Miami, FL, you should be aware of what the parameters are for RV insurance and RV owners in Florida.

Coverages & No-Fault

Florida has similar minimum coverages for RV’s in comparison to other cars and trucks but again, these are just minimums.  Due to the size of an RV, it’s prudent for owners to carry additional amounts of coverage in case of an accident due to the size disparity to other cars and trucks.  Florida also happens to be a no-fault state, meaning that there is no fault cast to a driver in the event of an accident.  Your insurance will cover the other driver and vice versa after an accident has happened.

Add-Ons

There are many add-ons to your RV insurance that you can purchase to bolster your insurance coverage.  These additional coverages can help with unique situations such as protecting your personal belongings inside of your RV, coverage during emergencies, coverage for personal medical payments, loss assessment coverage, coverage for being on the road full-time in your RV, adding roadside assistance to your coverage, total loss replacement coverage, vacation liability coverage, and other types of coverages that will help recreational vehicle owners.

Learn More

Prestige Insurance Group in Miami, FL has many years of experience in insurance for RV’s, cars, trucks, homes, condominiums, and other forms of insurance. Contact Prestige Insurance Group today to find out more about RV Insurance and coverages in more detail.  

A guide to motorcycle insurance coverages

Did you know that you need motorcycle insurance to ride a motorcycle legally in Miami, FL? Ignoring insurance laws can get you into serious trouble and your life in danger too. Motorcyclists are vulnerable to the weather conditions and general environment as they are not well-protected like in standard cars.

That’s why Prestige Insurance Group recommends getting proper motorcycle insurance coverages to protect yourself, your bike and other motorists. Here are a few coverages you should consider.

Bodily injury liability

This coverage helps pay medical bills and other expenses related to injuries to other people. It also pays legal fees associated with the injuries in the event of an accident.

Property damage liability

Property damage liability helps pay property owners who may be affected by an accident you caused. It could be the other driver, a property owner on the road or any other road user. The coverage also pays legal fees in case you’re sued.

Comprehensive 

Comprehensive coverage is designed to replace or repair your motorcycle in accidents that don’t involve collisions such as theft, fire, weather damage or other natural disasters. If the bike is stolen, the coverage can help replace it with the same model and year.

Collision

Collision coverage covers claims related to collisions that damage your motorcycle. Whether you collided with another car, tree, rock, pole or even another bike, the coverage helps repair or replace your bike.

Uninsured/underinsured motorist 

Uninsured and underinsured motorist is critical coverage that helps pay your medical bills or repair your bike if you’re involved in an accident with an uninsured/underinsured motorist.

Medical coverages

This coverage pays your medical expenses if you get into an accident. It also covers your passenger.

Need to buy motorcycle insurance in Miami, FL? Prestige Insurance Group is the company to contact. We have the skills, tools and experience to help you choose the right coverages based on your needs, style and comfort. For quotes and other policy discussions, call to book your appointment today.

Partner Carriers

  • AmTurst
  • AmWins
  • Avatar
  • Foremost
  • Hagerty
  • Infinity
  • Mercury
  • Metlife
  • National Flood Program
  • National general
  • Progressive
  • Southern Oak
  • State National