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Recovering from an Auto Insurance Lapse

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Have you ever found yourself with a lapsed auto insurance policy? This could be because of a missed payment, a personal oversight, or personal circumstances if you have it okay. It’s crucial to address the lapse promptly to avoid potential legal and financial consequences. Here at Prestige Insurance Group, serving Miami, FL, and surrounding communities, we understand how life happens.

Understanding the Implications of an Insurance Lapse

An auto insurance lapse means that there is a period when your vehicle is not covered by insurance. As mentioned, this can lead to several issues, such as your premiums rising, financial burdens such as fines coming into play, and you lose your driving privileges depending on your location of residence. If you have realized that your insurance has lapsed, make sure to take immediate action by reaching out to your insurance company right away.

Steps to Recover from an Insurance Lapse

Recovering from an insurance lapse can take time and involve many steps. We understand that this can be frustrating, and we are here to help guide you through making sure you get back insured as soon as possible. Another option could be signing you up for a new or different policy altogether. Once again, we would be happy to help in this situation, as we want you to have a policy that fits your lifestyle and budget.

Contact Prestige Insurance Group Today!

Dealing with an insurance lapse can be overwhelming, but we are here to help. At Prestige Insurance Group, we are dedicated to serving the Miami, FL, community and the surrounding neighborhood. Don’t hesitate to contact us today, and we will ensure you have insurance and are ready to get on the road today.

Understanding Industry-Specific Insurance Requirements

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Understand Industry-Specific Insurance for Adequate Protection in Miami, FL

Prestige Insurance Group recognizes that different industries in and around Miami, FL face unique risks and challenges. We believe in empowering businesses with an understanding of industry-specific insurance requirements to offer them optimum protection against potential liabilities and financial losses. Tailoring insurance coverage specific to your industry ensures your company is comprehensively protected.

Assessing Industry-Specific Risks

Before acquiring insurance coverage, businesses must identify the risks inherent in their respective industries. Unique risks might plague a construction company, such as higher chances of workplace accidents and property damage, while healthcare providers may need coverage for malpractice claims. Recognizing these specific risks enables businesses to choose the required types and levels of insurance to mitigate them effectively.

Legal and Regulatory Requirements

Certain industries carry specific legal and regulatory insurance requirements. For instance, healthcare providers must carry malpractice insurance to align with state laws and licensing requirements. Failure to maintain the required coverage could result in serious repercussions, including fines, penalties, and even legal action.

Industry-Specific Policies for Broad Coverage

Specialized industry-specific policies offered by many insurance providers can cover the unique risks faced by different sectors. For example, technology companies may need cyber liability and intellectual property theft coverage, while manufacturers may require product liability insurance. These specialized policies provide comprehensive protection, and selecting the apt policy is crucial.

Customization: The Key to Full Protection

Despite the valuable protection offered by industry-specific insurance policies, each business must tailor their portfolio to meet its unique needs. Factors such as size, location, and operations all influence insurance requirements. Engaging with an experienced insurance broker or agent like Prestige Insurance Group can help identify your needs and select the perfect coverage options.

Prestige Insurance Group: Your Trusted Insurance Partner

At Prestige Insurance Group, we are well-equipped to answer questions concerning industry-specific commercial insurance. Proudly serving the Miami, FL area, contact us today for personalized assistance.

Four things to do when you’re on the market for home insurance

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Finding the right home insurance policy is essential. Homeowners in Miami, FL, can rely on Prestige Insurance Group when they’re looking to meet their insurance needs.

There are a few things that consumers need to do before buying a home insurance policy. Here are four things to do when you’re on the market for home insurance. 

Understand your financial risk.

Protecting your finances with your home insurance policy would be best. That’s why it’s so important for you to be aware of the financial risks you face as a homeowner. 

Consider your assets when you decide on how much home insurance you purchase. You should have enough insurance to cover the full value of your assets.

Be aware of your obligations

It would be best if you also considered your obligations as a homeowner. You’ll generally need to meet certain insurance coverage requirements from your mortgage lender. Ensure you are aware of these insurance coverage requirements to comply with the terms of your mortgage loan.

Shop around

Comparing offers among different insurance providers is essential. It would be best if you got quotes on insurance policies to compare them and find the best solution for your situation. 

Look at reviews

Be sure to look over reviews of insurance companies you’re getting quotes from. You need to evaluate not only quoted premium costs but also the customer service of various insurance providers.

When you purchase insurance from a provider with good customer service, you know you’re choosing an insurance provider you can rely on when you need to file a claim.

Are you looking for an insurance policy for your home in Miami, FL? Get in touch with us at Prestige Insurance Group for a quote on a home insurance policy. 

Classic Car Insurance for a Long-Term Collector

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Our team at Prestige Insurance Group knows that many car collectors in Miami, FL, may want classic car insurance. But do their vehicles even qualify for this protection? Well, let’s take a deep look at this subject to help you understand which policy may work best for your needs.

Understanding Classic Car Insurance

Classic car insurance is a unique policy type specific to cars that fall under the classic heading. It has many of the same coverage types as normal policies but also covers things like storage, vehicle shows, and much more. It’s designed to fit into a specific budget and provide unique help. 

Furthermore, it can even help with property damage and bodily injuries you may cause. In this way, it’s very similar to a normal policy. However, its coverage is often higher because classic cars are worth more money, and it has additional riders, such as complete replacement protection.

Qualifying for Coverage 

If you want to get this kind of coverage, you must ensure you qualify first. For example, your car needs to be one you don’t use daily, and it must be stored in a carefully controlled area, such as a storage unit, private garage, or pole barn, to minimize any potential damage risks to it. 

Furthermore, it would be best if you had no serious infractions on your driver’s license in the last few years to qualify for a policy. For example, you can’t have alcohol-related issues, drug infractions, speed violations, or other kinds of legal problems that threaten your vehicle’s safety.

We’re Here for You

Talk to one of our agents at Prestige Insurance Group to see if your car qualifies for car insurance. We help Miami, FL, car collectors adequately protect their vehicles to ensure they don’t spend too much money. It’s our goal to help you get the best results possible for your financial needs.

What does Miami, FL renters insurance cover?

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Many Miami, FL renters do not realize the importance of carrying insurance on their rental properties. Renters insurance is so vital that some landlords require all their tenants to carry a policy. If you are considering getting renters insurance in Miami, FL, Prestige Insurance Group would happily answer your questions.

What Does Renters Insurance Cover?

Your landlord carries insurance on the property itself, and your renter’s insurance is to protect your personal belongings. Here are some of the most important items covered by renters insurance:

  • Unless your apartment comes furnished, you have furniture that needs to be protected.
  • Any small or large appliances that you own.
  • Your clothing, toiletries, and other personal items.
  • Electronics, such as televisions, computers, and sound systems.
  • Other random personal items such as musical instruments or books.

What Kinds Of Events Are Covered By Renters Insurance?

An almost endless number of events could cause a loss to you and your family. Here are some of the most common:

  • Damage from a natural disaster, such as a thunderstorm.
  • Damage from a fire, whether electrical or because of a storm.
  • Smoke damage.
  • Theft or vandalism.

Other Protections You Get With Renters Insurance

It is important to protect your belongings because otherwise, you have to pay to replace them out of your own pocket. Renters insurance provides other kinds of protection, too. For instance, if a fire causes you to be temporarily homeless, your renter’s insurance will help pay for a place for you to live. Your insurance policy can cover medical expenses if someone falls while visiting you.

If you need renters insurance in Miami, FL, please call Prestige Insurance Group today so we can find a policy that meets your needs.

How to Prepare Your RV for Hurricane Season

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If you own an RV in or around the Miami, FL metroplex, you probably already know that hurricanes aren’t rare in the area. But, whether you’re a longtime resident, new to the area, or just on an extended visit, all of us at the Prestige Insurance Group want you to stay safe and stay prepared.

How to Prepare Your RV for Hurricane Season

1. Create a Hurricane Preparedness Plan

Not all hurricanes necessitate evacuation, so you need to know precisely what you should do whether you’re staying in place, moving to a more sheltered location, or leaving the area.

2. Pay Attention to the Weather and Stay Informed

Even outside the hurricane season, you should pay attention to the weather and stay informed about potential storms. Stay informed of the weather forecasts and alerts for your area. Know the difference between a watch and a warning, and follow the instructions of the authorities, especially if they issue an evacuation.

3. Keep an Emergency Kit and Supplies at the Ready

Stock your RV with essentials such as water, food, medication, a first-aid kit, batteries, a radio, a phone charger, a flashlight, and other essentials. Also, make sure you have a place to keep your important documents dry in case you need them.

4. Do a Safety Check and Thorough Inspection of Your RV

Fill the fuel tank and check the windshield wipers and tires. Make sure your windows and doors have a good seal, and your roof isn’t leaking. Perform any necessary maintenance and repair any damage you can.

5. Know What Your Insurance Will and Won’t Cover

Check your insurance to make sure you’re covered for hurricanes or damages that can come from a hurricane. Even if you know you have hurricane coverage, you still need to know the extent of it. If you’re not sure or need more information, don’t hesitate to contact your insurance agent or company to figure it all out before a hurricane hits.

We Are Here To Help

If you want to know more about RV insurance in the greater Miami, FL metroplex, contact us at the Prestige Insurance Group today.

I only drive my motorcycle once a year. Do I still need motorcycle insurance?

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Even if you don’t drive your motorcycle often, it helps to have protection if you’re in an accident or cause one. Only some states require drivers to carry motorcycle insurance. However, most do. Our Prestige Insurance Group team is committed to helping Miami, FL motorcycle owners get the coverage they need.

What’s Motorcycle Insurance?

Motorcycle insurance can provide coverage for the driver, the motorcycle, and other drivers in the form of liability insurance. It’s designed to protect drivers in the event of an accident by providing liability protection if found at fault, as well as coverage for damage, vandalism, and theft. However, at a minimum, many drivers opt to at least get liability coverage as protection if found at fault for a motorcycle accident. Liability coverage provides medical protection for the other driver if you’re found at fault. It also provides coverage for the repair or replacement of the other driver’s property or vehicle/motorcycle. 

I only drive my motorcycle once a year. Do I still need motorcycle insurance?

Drivers aren’t required to carry motorcycle insurance in the state of Florida. In other words, drivers can legally operate their motorcycles in Florida without any insurance. Although motorcycle insurance isn’t required in the state of Florida, drivers can face heavy fines and are financially required to pay out of pocket for any accidents they may be responsible for.

Drivers also have no liability protection without insurance and can face charges if they cause an accident. At the very least, liability coverage may be a wide investment because it provides coverage for drivers in the event that they cause an accident.

Liability coverage would pay the medical bills of the injured driver if you’re found at fault. Also, liability coverage would pay for the repair or replacement of the other driver’s damaged vehicle, motorcycle, and property. Uninsured drivers can have their license suspended, accrue fines, and lose riding privileges if found at fault for an accident.

Consult With Us

If you have questions about motorcycle insurance, call us at Prestige Insurance Group in Miami, FL. We’d be happy to help you explore your options. 

5 Most Common Boating Injuries

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With more registered boats than any other state in the US, Florida is subject to more injuries and accidents related to boating and water sports. Knowing the most common boating injuries and accidents is the first step to protecting your friends and family members from injury during your next outing on the boat. Prestige Insurance Group in Miami, FL offers boat insurance and guidance to help you protect your friends, family, and property.

What Causes Boating Injuries?

The most common causes of boating injuries in Florida include boating while intoxicated, speeding, mechanical problems, collisions, and falling overboard. Other common causes include inexperienced drivers and bad weather.

Common Boating Injuries

In 2020 alone, 534 people were injured in boating accidents in Florida. Those injuries range from cuts and broken bones to fatalities – with 79 fatalities in 2020. 

Preventing Boat Injuries and Fatalities

There are several steps you can take to prevent injuries and fatalities on your watercraft: 

  • Never drink while operating a boat; always designate a sober driver
  • Follow posted speed restrictions and right-of-way laws
  • Keep a life jacket on the boat for all passengers at all times
  • Monitor weather conditions and stay home/go home if bad weather is expected
  • Inspect your boat before taking it out to ensure all parts are working as expected

You can also protect your loved ones – and others you may come in contact with on the water – by carrying liability insurance on your boat as required by law. Liability insurance covers the cost of property or bodily damage incurred as a result of boating. 

Whether you’re buying your first boat or seeking new insurance options, the team at Prestige Insurance Group in Miami, FL can help. Stop by today!

The Benefits of Umbrella Insurance For Business Owners

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At Prestige Insurance Group, serving the greater Miami, FL area, we are proud to provide many insurance products. One of the insurance products we offer is umbrella insurance, a type of insurance that can be ideal for both individuals and businesses. Here are a few of the benefits associated with umbrella insurance for business owners. 

Increased Liability Protection

Business operations inherently involve risks, and lawsuits can arise from various sources, such as customer injuries, property damage, or contractual disputes. Umbrella insurance extends the liability coverage of your primary policies, such as general liability or commercial auto insurance, providing additional financial protection. In the event of a large claim or lawsuit, umbrella insurance can cover the costs that exceed your primary policy limits, helping to safeguard your business assets.

Broader Coverage Scope

Umbrella insurance not only increases the coverage limits but can also provide coverage for certain risks that may not be covered by your underlying policies. It can include additional liability protection for various scenarios, such as libel or slander claims, reputational damage, or false arrest, which may not be covered by your primary policies. This broader coverage scope ensures that your business is better protected against a wider range of risks.

Cost Efficiency

While umbrella insurance provides additional coverage, it is often more cost-effective compared to increasing the limits on individual primary policies. By bundling your coverage under an umbrella policy, you can typically obtain higher coverage limits at a relatively lower cost. This cost-efficiency can be particularly beneficial for small and medium-sized businesses with limited budgets.

We Are Here To Help

Umbrella insurance is an insurance product that can benefit individuals as well as business owners. If you are interested in learning more about umbrella insurance and how it may benefit you, reach out to Prestige Insurance Group, serving the greater Miami, FL area today. 

Three details you shouldn’t overlook when you buy flood insurance

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It’s important for homeowners to fully understand their flood insurance policy. At Prestige Insurance Group, we make sure that homeowners in Miami, FL have all the information they need to understand their flood insurance.

The following are three details you shouldn’t overlook when you buy flood insurance:

Flood insurance requirements

Homeowners are sometimes required to have flood insurance. If you own a home in a high-risk flood area, you might need to carry a certain amount of flood insurance coverage.

Those who live in a flood zone and are still paying off a home loan definitely need to invest in flood insurance. Discuss flood insurance requirements with your lender if you are in this situation. 

Coverage for personal property

A typical flood insurance policy will include coverage for personal property. However, flood insurance policies specify a coverage maximum for personal property damage.

You should consider the value of the personal property you have in your home. Ideally, your policy should carry enough personal property coverage to cover the full value of your belongings in your home. 

Policy deductibles

Flood insurance policy deductibles typically work a little differently from how home insurance policy deductibles work. A flood insurance policy will usually have three different deductibles. These include a deductible for building coverage, contents coverage, and added living expenses. 

Make sure you’re aware of all the deductibles on your policy and that you put thought into which deductible amounts are best for your financial situation. 

Are you looking for flood insurance for your home in Miami, FL?

Prestige Insurance Group is here to help. We can offer you a quote on a flood insurance policy that will give you peace of mind and protect the value of your home. 

Partner Carriers

  • AmTurst
  • AmWins
  • Foremost
  • Hagerty
  • Infinity
  • National Flood Program
  • National general
  • Progressive

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