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Who should get an auto insurance policy in Florida?

If you live in the Miami, FL area, you likely will enjoy being able to experience all that the city and metro area has to offer. For those that are in this area of the state, it is vital that you have a vehicle that is adequately insured. There are several situations when someone will need to have auto insurance in place.

Someone with a Car Loan

When you take out a loan to purchase your car, you are going to need to stay in compliance with your own agreement. Most of the time, this is going to include carrying collision and comprehensive insurance for your vehicle at all times. If you do not have this type of coverage, you will be in default of the loan agreement.

Those Driving on a Public Road

You will also need to get auto insurance if you ever plan on driving your vehicle on a public road. In the state of Florida, drivers are mandated to carry liability insurance whenever they go out for a drive. This form of insurance coverage ensures all other parties that you are able to pay for damages if you cause an accident. Those that do not carry this form of insurance could be penalized.

As you are shopping for auto insurance in the Miami, FL area, you could find that it is hard to pick a policy. Fortunately, the team at the Prestige Insurance Group can help to make this easier for you. The insurance professionals at the Prestige Insurance Group will provide you with the advice and guidance you need to pick a new policy that provides the right coverage. 

The Essential Guide to Commercial Insurance

Whether you started a business as an entrepreneur, a storefront, or a manufacturing operation in Miami, FL, you need commercial insurance. Here’s the thing, though. You do not need the same commercial insurance policy if you are an entrepreneur or a storefront operation or a manufacturer. Prestige Insurance Group wants you to understand the plethora of choices before you, so you choose the right insurance for your business’ needs.

While everyone needs insurance that helps them accomplish business continuity and protects the business against loss, many differences exist, too. For example, a dry cleaning business requires inland marine insurance that protects the property of their clients while on their premises. A home business run by an entrepreneur requires liability, but not a business owner’s policy (BOP). If that business makes regular deliveries using the owners’ vehicle or a vehicle purchased for the business, that requires commercial auto insurance.

Here’s a quick guide to the types of commercial insurance.

  • Construction insurance: also called builder’s risk insurance, covers commercial structures as they are built.
  • Business interruption insurance: covers repair or replacement of real property resulting from a named peril and pays for the income lost due to the interruption of business as usual.
  • Business owner’s policy (BOP): combines the four most necessary policies into a single package to cover the business’ liability and property. You can purchase coverage separately, but it typically costs you more when purchased that way.
  • Commercial auto: similar to the auto insurance you purchase for your personal vehicle, but this automatically provides full coverage and covers every licensed driver who operates your fleet vehicles.
  • Crime insurance: covers your business’ losses from property crimes like burglary, robbery, and theft.
  • Debris removal insurance: this policy pays for removing debris following a named peril, such as a fire.
  • Directors’ and officers’ liability insurance: Covers the legal costs and payouts of lawsuits involving a corporation’s or non-profit’s C-level officers and directors.
  • Equipment breakdown insurance: also called boiler and machinery insurance, pays for the replacement or repair of boilers, machinery, and other equipment and also covers the business interruption losses incurred due to the breakdown.
  • Errors and omissions insurance  (E & O): only those businesses that could possibly injure a third-party via accidental error or mistake require this policy type. The most common businesses that purchase it include attorneys, medical practitioners, manufacturing firms, and publications.
  • Glass insurance: storefront owners often purchase this policy, which covers the replacement of plate glass and broken windows from a range of causes, including named perils and vandalism.
  • Inland marine insurance: covers damages to third party property stored on-premises and property in transit.
  • Liability insurance: pays for injuries you cause to a third party.
  • Professional liability: more commonly called malpractice, covers a business’s losses and attorney fees stemming from injury to a third party caused when a professional failed to provide the proper standard of care.
  • Ordinance or law insurance: cover building demolition and re-construction to building code standards when the structure incurs significant damage. 
  • Property insurance: covers real or personal property damage.
  • Tenant’s insurance: pays for repairs to damages occurring to the lessee’s building improvements and damages by employees of the lessee. It differs from renter’s insurance, which pays for damages to your belongings and property and belongings.
  • Workers’ compensation insurance: Covers the cost of medical care and lost wages due to workplace injury or illness.

Stop by or call Prestige Insurance Group of Miami, FL today to learn how we can help insure your business. Let us help you determine which of the above policy types best suit your business and build a custom commercial insurance policy for you.

Tips for Making Long-Term Care Decisions During a Pandemic

By June Duncan

Caring for an elderly or disabled loved one requires that you make a lot of big decisions together. As the COVID-19 pandemic continues, it may disrupt your loved one’s plans for long-term care. With health concerns in many assisted living facilities, you will want to weigh your decisions carefully. Below, find out how you can choose the best option for your loved one in light of the pandemic.

What Options Are Out There?

COVID-19 has changed just about everything in our daily lives, but it hasn’t changed the fact that vulnerable people need safe places to live. There are numerous types of facilities that provide daily care for people who need help. Assisted living facilities, skilled nursing facilities, and continuing care retirement communities are just a few options.

AARP says that assisted living might be the right choice if your loved one needs help with daily activities but doesn’t require round-the-clock care. Skilled nursing facilities (SNFs) and nursing homes, on the other hand, typically provide a higher level of care.

Although the terms for nursing homes and SNFs are used interchangeably, they’re not the same thing. Not only are these facilities run differently, there are also differences when it comes to Medicaid and Medicare coverage.

Instead of assisted living or nursing homes, continuing care retirement communities (CCRCs) provide the best of both worlds for some people. These facilities provide all levels of care a person may need as their health changes. However, you’ll have to weigh the costs carefully. Kiplinger explains that a stay in one of these facilities can be pricey.

Health Concerns with Assisted Living

COVID-19 has raised all kinds of new concerns for people in assisted living, as well as their families. Even if your loved one would benefit from a greater level of care, you might be worried about whether it’s safe to move right now.

The COVID-19 pandemic does present a threat in these facilities because most residents are already at a greater risk of getting sick due to their age or existing health conditions. However, asking a variety of questions before choosing a facility can give you more peace of mind.

For example, it’s important to ask what a facility’s plan is for preventing infection. Checking up on the general cleanliness of a facility and looking for past complaints can provide helpful insight as well.

Can You Move During COVID-19?

If you’ve decided on a long-term care facility, you might be wondering if it’s even possible to move during the pandemic. In most cases, you can still move despite the pandemic. However, you may want to consider whether it will put your loved one at greater risk to move now or wait until there are fewer new cases of coronavirus.

Keep in mind that assisted living facilities may also have different policies for admitting new residents during the pandemic, such as screening residents or requiring a period of isolation from others in the community.

In-Home Care Options

While many people find that their loved one will benefit most from moving to an assisted living facility or nursing home, it’s not the only option. In-home care is also a possibility. With the pandemic going on, many families are finding this to be a safer alternative.

Home health aides can provide assistance with daily activities such as eating, bathing, or taking medication. You can also hire a homemaker to help with laundry, cooking, and other household tasks.

If your loved one chooses to stay at home, it’s a good time to take a look at their homeowners insurance policy. Not only does a policy cover your loved one’s property, it also provides liability protection. This coverage is always important to have, but it matters even more if you will have a home health aide providing services.

Choosing between assisted living and in-home care is always a tough decision, but the COVID-19 pandemic complicates matters even more. There are many safe facilities that provide the care your loved one needs, but in-home health care is a good alternative if you have concerns about your family member moving into a communal setting during the pandemic.

Will Home Insurance in Miami Cover My Pets?

Will Home Insurance Cover My Pets?

If you’re looking for home insurance in Miami, FL, it’s reasonable to wonder if your pets will be covered under your policy. After all, even well-trained pets can cause unintentional damage to your property, possessions, or even to other people. Prestige Insurance Group wants to fill in the gaps for you, so you have a better idea of what you can and can’t file a claim for. 

Standard Policy Terms 

Under standard policies, home insurance generally does not cover your personal property against pet damage. So if your dog broke your big-screen television or chewed through an expensive piece of furniture, it’s unlikely to be approved for reimbursement. The same is true for the grounds and structure. A rambunctious animal who managed to chew through part of the floor or claw the paint job on the wall is generally not a covered event.  

While your own property may not be covered, though, you may be able to cover other people’s property through the liability coverage on your policy. So if your neighbor puts up a fence and your pet puts a hole through it, you may be able to file a claim still. Please note that in Miami, FL, your pet would likely need to be a domestic, personal animal to file for this type of liability coverage. If your animal is used for commercial purposes, then you would likely need to file the damages under a commercial insurance policy. 

Talk to a Pro 

Prestige Insurance Group wants you to know more about how to protect your home from a variety of threats. We’ve served countless homeowners in Miami, and we’re here to do the same for you. If you have questions about how your pet factors into your policy or you just want to know more about general coverage options, give us a call today. 

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