Do I always need to have home insurance for my Florida property?

Owning real estate in the Ft Myers, FL area has been a good investment for a long time. When you are going to purchase a property here, it is essential that you always consider your insurance needs. For most property owners, having home insurance is a necessity and a requirement. There are various reasons why you should also have home insurance for your Florida property. 

Meet Standards of Mortgage Lender

You will want to have a home insurance policy on your Florida home so you can meet the standards set by a mortgage lender. Using a home loan to buy a property is very common today. If you take out a mortgage, you are obligated to meet their requirements in terms of the insurance. Usually, you will need to have a full insurance plan and have payments escrowed each month.

Receive Protection and Coverage

You also want to have a home insurance plan to benefit from the protection and coverage it provides. If you choose to buy a home, you will always want to know that it is covered. With a home insurance policy, you will get helpful coverage that will give support so you can repair your home when needed. This coverage can also extend to your personal items up to the limits of the policy. 

If you are looking to purchase a property in the Ft Myers, FL area, reach out to our office. The Martin Insurance Team can provide any support that you need to build an appropriate insurance plan. Call the Martin Insurance Team and our professionals will help you understand your needs and options, so you remain fully covered. 

Four Key Items Protected By Your Home Insurance Policy

Home is where the heart is and where most prized possessions are kept. Our home is our sanctuary, a safe place to relax and unwind at the end of a long day. But what happens when something goes wrong?

When an accident or disaster strikes, it’s essential to know that our home and everything in it are protected. That’s where home insurance comes in. A home insurance policy is designed to safeguard your home and your belongings in the event of unexpected damage or loss. Here are four essential items that are typically protected by a home insurance policy:

1. Liability From Lawsuits

Home insurance protects you from various risks, including liability from lawsuits. If someone is injured on your property or you damaged someone else’s property, you could be held liable in a lawsuit.

Your home insurance policy can help to protect you by providing financial coverage for legal expenses and damages that may be awarded in a lawsuit. Sometimes, the insurance company can even provide coverage for your legal defense. Whether you’re worried about an accident that has already occurred or you’re simply looking for peace of mind, home insurance can offer valuable protection against the risk of liability from lawsuits.

2. Additional Living Expenses (ALE)

Everyone is familiar with the basic coverage provided by a home insurance policy, including protection for the home’s structure and contents. However, home insurance policies also provide essential coverage for additional living expenses. Also known as ALE, this coverage can help to reimburse you for the cost of temporary housing if a covered event damages your home.

This insurance can be invaluable if your home is destroyed by a fire or severe weather, as it can help ease the financial burden of finding a new place to live. ALE coverage is typically limited to a specific dollar amount, so it’s essential to review your policy limits before you need to use this coverage. But for those who do find themselves in need of temporary housing, ALE coverage can help to make the process a little easier.

3. Personal Belongings

Home insurance policies generally cover personal belongings in the event of a covered loss, such as fire, theft, or certain types of water damage. The coverage may be limited, so checking your policy documents is essential to see what’s included. Most policies will have a maximum limit for each type of item, and some items may require additional coverage. For example, you might need to purchase a separate rider to insure jewelry or furs. If you have high-value items, it’s important to ensure they are adequately insured. Otherwise, you could be left with a sizable bill if they are damaged or stolen.

4. Your Home’s Structure

We all think of home insurance as something that covers the physical structure of our homes – the walls, roof, and so on. But your home’s structure is just one part of what’s covered by a typical home insurance policy. Most policies will also cover things like your plumbing and electrical systems and any permanently installed fixtures like cabinets and countertops. So if you’re ever faced with a burst pipe or a faulty electrical outlet, you know your home insurance will have you covered.

Contact Us Today for the Right Home Insurance Policy

These are just a few key items your home insurance policy protects. Of course, every policy is different, so reviewing your policy documents is important to see what’s included. And if you have any questions, be sure to contact your insurance agent or broker. They’ll be happy to help you understand your coverage and ensure you get the protection you need.

If you’re a homeowner in Ft Myers, FL, the Martin Insurance Team can help you find the right home insurance policy based on your needs. Contact us today for more information.

How to Choose a Home Insurance Policy in Ft Myers, FL

When you’re ready to buy a home insurance policy in Ft Myers, FL, it’s essential to understand the different coverage options available. Homeowners’ insurance covers the house, other buildings, and personal belongings. They also include liability protection in homeowners’ insurance policies.

Different Levels of Coverage

The most common type of homeowners’ insurance is all-risk insurance, which covers the home against all perils, except those expressly excluded from the policy. Another type of homeowners’ insurance is perils insurance, which covers the home against specific risks named in the policy. Buyers should understand the different coverage before they purchase a policy.

The Martin Insurance Team can help you understand the different coverage and ensure you have the right amount of protection for your home. Call us today to get started.

Deductibles

Deductibles are the amount the policyholder must pay out-of-pocket before the insurance company pays a claim. The higher the deductible, the lower the premium. Your mortgage lender may require you to purchase a policy with a deductible of only 1% of the loan amount.

Policy Limits

Policy limits are the maximum amount that the insurance company will pay for a covered claim. Most policies have limits for different coverage. For example, a policy may have a $100,000 limit for the dwelling and a $50,000 limit for personal belongings.

Replacement Cost Coverage

Replacement cost coverage is the amount it would cost to repair or replace damaged property with similar kinds and quality materials without deducting depreciation. Depreciation is property value loss due to age, wear, or obsolescence.

When you’re ready to purchase a home insurance policy in Ft Myers, FL, call the Martin Insurance Team. We’ll help you choose the right coverage for your home.

Umbrella Insurance Comes in Personal and Business Forms

In Ft Myers, FL, you might purchase an umbrella insurance policy for your home insurance policy to add to the liability coverage, but wish you could buy one for your business, too. Well, you can.

Martin Insurance Team offers umbrella policies for business and personal needs. You’ll purchase two separate umbrella policies because you can buy one for business and one for personal use. Still, you can’t cover your business and personal coverage on the same policy.

What Does Umbrella Insurance Do?

When you purchase the primary policy, such as home or business liability, it provides a specific level of liability coverage. Typically, that coverage amount tops at half a million dollars or less. Your primary or central policy’s liability coverage equals the amount provided as a cap in the insurance papers.

An umbrella policy, a secondary policy, offers only liability coverage. It typically starts with a one million dollar coverage option. When the liability coverage in your primary policy pays out ultimately, your umbrella policy kicks in and pays the rest of the liability you incurred.

If you hosted a party where a fire occurred and three people incurred burn injuries, your primary or home policy would pay for your liability first. It would cover as much of their hospital, rehabilitative/physical therapy bills as its policy maximum allowed.

With three individuals, this could easily exceed the primary policy maximum of $25,000 to $50,000. The umbrella policy covers up to $1 million of liability, so if the three individuals sued you, this policy would pay the settlements.

A business umbrella policy works the same way. If a fire occurs at your business and injures three customers, the business liability primary policy covers up to its policy cap. After that, your business’s umbrella policy kicks in to cover the hospital bills and settlements.

Contact Us Today

Contact Martin Insurance Team serving Ft Myers, FL to purchase an umbrella policy for your business and to purchase a policy for your personal needs. Let us help you protect your financial security.

Benefits of Landlords Liability Insurance

Did you know that as a landlord in Florida, you’re legally responsible for the safety of your tenants? That means if someone is injured on your Ft Myers, FL property, they could hold you liable. That’s why it’s so important to have a landlord’s liability insurance. This type of insurance can help protect you financially if a tenant ever sues you.

Here are just a few of the many benefits of having landlords’ liability insurance:

Help Cover Your Legal Expenses

Your legal expenses can quickly add up if a tenant ever sues you. With landlords’ liability insurance, you won’t have to worry about how you’ll afford to pay for a lawyer. Your insurance will cover the cost.

Provides Financial Protection

You could face a significant financial judgment if you’re liable for an accident on your property. That’s why it’s so important to have insurance. It can help cover the cost of the judgment and any damages they may order you to pay. Your Martin Insurance Team can help you find the right policy for your needs.

Covers Property Damage

If a covered event damages your property, a landlord’s insurance can help pay for the repairs. This policy can also cover the cost of any lost rent if your property is uninhabitable.

Gives You Peace of Mind

As a landlord, you have enough to worry about without stressing about what would happen if someone sued you. With landlord’s liability insurance, you can have peace of mind knowing that you’re protected.

As you can see, there are many benefits to having a landlord’s liability insurance. If you’re a landlord in Florida, it’s something you should consider. Contact your Martin Insurance Team today to find out more.

Why do you need transportation insurance in Florida?

The shipping and transportation industry is a very important one as it helps to ensure that products are able to be shipped from the manufacturer and distributors to retailers and individual consumers. For those that are in the transportation industry in the Ft Myers, FL area, having the right insurance in place to protect the business is important. You will need to have transportation insurance for various reasons.

Coverage Protects Transportation Provider

One of the reasons to have a transportation insurance plan for your transportation business is that it can help to cover your organization. A proper transportation insurance plan will give you coverage for any type of cargo that you are transporting. This way, if there is an accident that results in damaged products, you will be covered. It can also provide valuable liability coverage, which can be helpful if you are named liable for an accident.

Coverage is Required by Stakeholders

You will also want to have a transportation insurance plan as it could be required by the stakeholders. When you are in the transportation industry, you will be entrusted with various products owned by manufacturers and distributors. Due to this, they will want to know their assets are covered as well as possible. Ensuring that transportation services are properly protected with their own insurance is a requirement for many companies.

It is very important for a company in the Ft Myers, FL area to maintain an adequate transportation insurance plan at all times. When you are looking for a new transportation insurance plan here, starting your search with the Martin Insurance Team is a good option. The professionals with the Martin Insurance Team know the importance of this type of coverage and can ensure you remain properly supported with a transportation insurance plan.

Does your FL trucking company have the right insurance?

If you own a trucking company in the greater Ft Myers, FL area, it’s time to get to know the Martin Insurance Team! We are here to help you with all of your insurance needs. Give us a call today!

Protect your trucking company today!

Owning or operating a trucking company is not an easy job. There are numerous facets of the business that are constantly in flux, and it may seem like you are constantly putting out fires or dealing with crises. On top of that, you have a lot of money invested in your vehicles, and if they’re off the road for any significant period of time, your bottom line can take a serious hit.

Fortunately, with the right trucking company insurance policy in place, you can protect yourself from many of the ups and downs that can be a part of owning a successful trucking company.

There are a number of specialized needs that trucking companies deal with, from protecting their vehicles, having liability coverage, and dealing with employees, just to name a few. All of these needs make it even more important to have the right policy in place. By sitting down with an experienced agent, you can review all of your needs and find a policy that meets them.

Too much work goes into running a successful trucking company to neglect to have the right insurance coverage in place. Find out more about the different trucking company insurance policies available today.

Find out more

Ft Myers, FL area trucking companies can rely on the Martin Insurance Team for all of their insurance needs. If you own or operate a trucking company in the area, give us a call today. We would welcome the opportunity to work with you!

How Does Transportation Insurance Protect my Business?

In an ideal world, you wouldn’t need insurance. After all, there would be risks to bother you. But because an ideal world doesn’t exist, your business needs insurance to ensure that it can last for many years to come. If you are in the transport industry, you need transportation insurance to safeguard your business. But how does this insurance plan protect your business? Martin Insurance Team in Ft Myers, FL has the answer.

Liability protection

Because your business uses trucks and other heavy-duty vehicles, accidents can happen. And if you are at fault, you could be liable for third-party injuries and property damage. Worse yet, you can face a significant financial mess if the victim goes ahead to sue you.

But guess what? Transportation insurance protects you against third-party claims. It covers all the costs falling within the limit, lessening your financial burden.

Asset protection

Setting up your transport business calls for a huge investment. Transportation insurance covers physical damage to your vehicles when perils strike.  For instance, if your truck is involved in an accident, your insurer covers the repairs and even replacement if the truck is totaled.

Covers your employees

Transportation insurance covers the medical costs of your drivers and other personnel should they fall ill or suffer injuries in the workplace. This insurance policy saves your business significant financial losses from employees’ medical costs.

Covers goods

Theft or loss of goods is not uncommon in the transport industry. And since it can eat into your business finances, you better invest in transportation insurance to handle this headache on your behalf.

Buy transportation insurance in Ft Myers, FL 

Want to see your transport business thrive for many years to come? If yes, consider transportation insurance today. To get coverage, please get in touch with Martin Insurance Team for an affordable quote.

Who Should Have Disability Insurance in Florida?

Just like health insurance, disability insurance is one policy you buy, hoping never to use it. But because life is full of surprises, you can’t take chances by assuming all will be well. Instead, invest in disability insurance from Martin Insurance Team located in Ft Myers, FL. This way, you will have made a huge step in protecting your future financial plan.

What is disability insurance?

Before going far, let’s get the basics out of the way. What is disability insurance? This insurance policy covers your income if you can’t continue to work because of factors like illness or injury. You may think that disability insurance is just for freak accidents, but it also covers things like personal injuries, cancer, and heart attack — things that you may not link with disabilities.

Who needs disability insurance?

Some states require employers to purchase disability insurance, but Florida isn’t one of them. However, this doesn’t mean you should risk going on without disability insurance. It would be best if you had this insurance plan to supplement your income when you cannot work.

You may think that your emergency fund is enough, but this can only sustain you for a few months. If your disability persists for more than one year, disability insurance gives you part of your income to cover your expenses and long-term care.

So, in summary, you need disability insurance if:

  • You rely on income and don’t have enough savings to carry you through when not earning
  • Your employer doesn’t offer this insurance plan
  • You need peace of mind because life is very unpredictable

Ultimately, everyone needs disability insurance because you never know when disaster will strike. And even if you have sufficient savings, the purpose of these savings wasn’t to step in when disabled. Let disability insurance do this for you.

Invest in disability insurance today!

Want to invest in disability insurance in Ft Myers, FL? You can trust Martin Insurance Team for all your disability insurance needs.

Health Insurance Benefits for your Family

We live in unpredictable times. Today you are healthy or okay, and tomorrow the story is different. The fact that no one plans to get hurt or sick should make you think twice about getting a health insurance policy. Health insurance is that safety net that protects you and your family financially when that illness kicks in. Besides the financial confidence of taking care of your loved ones, health insurance is beneficial in so many ways.

To that end, when you purchase health insurance from Martin Insurance Team in Ft Myers, FL, you get to enjoy the following benefits.

It protects your savings and assets

Some health conditions like cancer can wipe out all your savings to the extent of getting into your assets. That’s why health insurance is essential at all times, as no one plans for an illness. With good health insurance, your savings and assets can be used for the intended purpose.

It safeguards your family

Let’s talk about our aging parents, who are vulnerable to diseases. Ensuring that everyone in your family, including them, gets good medical treatment if they fall ill is essential. With a good health cover, you will not stress about medical expenses.

Offers preventive care

Health insurance offers preventive care that helps you stay healthy, like immunizations and annual check-ups.

Offers peace of mind

Nothing can beat the peace of mind. You see, no one is immune to an accident or an illness. Having a health cover allows you to live your life doing the activities you love knowing your health is protected.

Helps with medical inflation

As technology improves, the cost of treatment increases. The cost of diagnostic tests, consultation, theater, ambulances, or medicines is also rising. Without a sound health insurance plan, the costs could jeopardize your finances.

Buy health insurance near you

Health insurance is a no-brainer in a world full of uncertainties. It would be best to protect yourself and your family from any eventuality that could lead to expensive medical costs. If you live in Ft Myers, FL and its environs, contact Martin Insurance Team today for an affordable quote.