Umbrella Insurance Comes in Personal and Business Forms

In Ft Meyers, 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 Meyers, 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 Meyers, 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.

Cyber Insurance: Protect Your Florida Business

There are several different types of business insurance, but one kind of insurance businesses often forget there is cyber insurance. Here’s what you need to know about cyber insurance to protect your Ft Meyers, FL business and how Martin Insurance Team can help you keep your business safe.

What is Cyber Insurance?

Cyber insurance protects businesses against the effects of cybercrime, such as ransomware, malware, distributed denial-of-service (DDoS) attacks, and other attack methods that can be used to compromise sensitive data and networks. This type of insurance is also referred to as cyber risk insurance or cybersecurity insurance. A dedicated insurance team can help personalize a cyber insurance policy to help you mitigate specific risks.

Does My Business Require Cyber Insurance?

No. Cyber insurance is not required to operate a business. However, it is an asset to your company. Whether you use one or multiple devices to manage your business, your business is prone to cyber-attacks. The more devices you use, the higher your cyber risk.

What Are the Benefits of Cyber Insurance?

Unfortunately, cyber-attacks are the new choice of destruction. Cyber insurance is ideal for small businesses, corporations, and businesses. This type of insurance is beneficial in many ways.

Improved Security Standards

The security provided by insurance companies can redefine your current security standards. You can advance your business and open different doors of opportunity with improved security standards.

Improving IT Security

Better business insurance coverage is a possibility when you have cyber insurance. Better insurance coverage for your business could mean more coverage at lower rates.

Improved Executive Awareness

Security initiatives can be easier obtained when you recognize and understand the risk and consequences of cyberattacks. You can save your business money by avoiding unnecessary risks with this understanding.

Here at Martin Insurance Team, we want the best for your business. We proudly serve Cape Coral, Bonita Springs, Naples, and Ft Meyers, FL. We’re here to help you keep your business safe by safeguarding you from cyberattacks. Contact us today to learn more about our cyber insurance services.

How do you determine how much restaurant and liquor insurance coverage your establishment needs?

Opening your own restaurant offers an exciting opportunity, but you need the right insurance just as much as you need the right sous chef. Few chefs realize it with their first restaurant, but commercial insurance provides one of the most critical business tools at their disposal.

Your restaurant’s insurance protects your financial investment from most losses. Suppose your food doesn’t taste good, so no one eats there. In that case, that’s on you, but if a tornado damages your café or hurricane winds tear apart your restaurant’s patio and roof, commercial property insurance from Martin Insurance Team covers it. Business interruption insurance helps you pay yourself and your staff while you’re closed for repairs.

Most restaurants, cafes, coffee houses, and bars carry more than one insurance policy. What policies do you need, though, and in what amount of coverage? The amount in question varies by eatery. We’ll help you determine how much based on your building cost, operating costs, sales volume, number of employees, etc.

Most establishments start with a business owners policy (BOP), then add to it. The BOP contains four policies that every business needs – general liability, business property, business liability, and business interruption insurance.

If you serve alcohol of any kind – beer, wine, mixed drinks, etc., you need to carry liquor liability to cover damages by an intoxicated individual or group. If you’re a dry establishment, you can skip this policy.

Without Exception, Buy This Coverage for Your Eatery

  • Spoilage: If the power goes out and your food spoils in the refrigerator or freezer, this insurance covers your loss.
  • Equipment Breakdown: This policy covers damage, repairs, and replacement of freezers, refrigerators, steamers, boilers, ovens, ice makers, and food warmers.
  • Employment Practices Liability: This policy protects you if an employee sues your eatery for harassment, discrimination, or another workplace tort.
  • Umbrella: Commercial umbrella insurance extends your general liability and commercial auto liability coverage policies.
  • Sewer Backup: Yes, there’s a specific policy for sewage. Most property damage policies exclude sewer backup as a peril, and sewage happens.
  • Utility Interruption: This policy covers interruptions to any utility needed to operate your restaurant – electric, gas, water, Internet, telephone, etc.
  • Electronic Data Processing: The electronic data processing insurance policy has only existed as long as computers and modern cash registers, but it does qualify as a must-have. It covers your computers, registers, and electronic table ordering systems.
  • Extra Expense: When a named peril like fire damages your Ft Meyers, FL eatery, you may need to rent a new location temporarily to continue operation while your main location undergoes repairs. This policy pays for that.

Contact Us

In Ft. Meyers, FL, call Martin Insurance Team for the restaurant insurance you need to protect your business investment. We’ll help you build a policy that covers exactly what you need.

What types of injuries are covered by workers compensation?

Workers’ compensation provides various benefits for employees who become injured on the job. It’s designed to provide medical coverage and wage replacement for injured employees/workers. Many different on-the-job injuries are covered under a workman’s compensation policy. Our Martin Insurance Team is dedicated to helping our Ft Meyers, FL clients understand how workers’ compensation works.

What is Worker’s Compensation?

Workers’ compensation is an insurance policy designed to protect and support employees who become injured while working. This type of insurance usually provides medical coverage and wage replacement for injured employees. Other benefits that may also be included are disability and death benefits.

What Types of Injuries are Covered By Worker’s Compensation?

Typical injuries often covered by workers’ compensation insurance include fractures, eye injuries, burns, sprains, torn ligaments, and more. Sometimes a worker’s compensation policy will cover an old injury that’s been worsened by a work environment if it can be proven. However, any injury sustained at work or while working may qualify an employee for workman’s compensation benefits. The most common type of on-the-job injury is muscle strain. In fact, strains make up over thirty percent of all workman’s compensation claims. However, workman compensation claims can run the gamut from mild injuries to severe or deadly. Often, injured employees are required to take a drug test to ensure that drug use didn’t play a part in an on-the-job injury. 

If you’re a business owner or employer and have questions about workman’s compensation, give us a call. Our Martin Insurance Team is committed to helping our Ft Meyers, FL employers understand the benefits of workman’s compensation. Give us a call. We’re standing by.

What is general liability insurance and what does it cover?

General liability insurance protects businesses from property and bodily injury claims caused by/from using a business’s products, services, and operations. General liability insurance is broad in that it covers a wide range of areas designed to provide liability protection from general business risks. Our Martin Insurance Team in Ft. Meyers, FL is committed to helping business owners understand the benefits of general liability insurance. 

How Does General Liability Insurance Work?

General liability insurance is designed to provide liability protection for businesses in two main areas, including protection for your business location and operations and your products and completed operations. These two areas are considered significant areas of risk for most businesses. This type of insurance also protects your business if you’re sued for advertising injury. Coverage for damage to your landlord’s property is included as well. 

What Does General Liability Insurance Cover?

Most businesses need liability protection from personal injury, libel, slander claims, property damage, and bodily injury. These are all areas that many companies couldn’t afford to handle without the help of an insurance policy. Claims against a company for property damage or bodily injury that may occur during normal business operations can quickly become too expensive to handle, not to mention other claims that might be brought against a business. General liability insurance provides liability protection to cover typical risks that many businesses may deal with. 

Other Considerations…

How much your company pays for general liability insurance is based on the size and condition of your workplace. For example, larger spaces usually create more opportunities for bodily injuries, and property damage can occur. This is especially true if your business location is open to the public. These factors can affect how much you pay for general liability coverage. If you’re a business owner with questions regarding general liability insurance, call us. We’d be happy to answer your questions. 

How Tax-free retirement Services in Florida Can Help you Prepare

Planning for your financial future is essential. For those in the Ft Meyers, FL area, taking advantage of any tax advantages available is a good option. Various benefits can come when you utilize the tax-free retirement services investment professionals provide. 

Reduce Future Tax Liability

One of the advantages of using tax-free retirement services is that they can help you save money on taxes now and in the future. As you are planning for the future, reducing taxes is very important. This will help make your income more predictable and reduce your risks. The use of tax-free retirement services will help you generate tax-free income in retirement and help save a lot of money. 

Investment Alternatives

The use of tax-free retirement services is also a good idea as it can help you find investment alternatives. When you are preparing for your future, it is crucial that you diversify your investments. This can help you reduce your risk that one or two investments will go down in value. With a tax-free investment plan, you can help to diversify your investments into different funds and alternatives, which will further help you manage risk. Investment professionals will help you create a personalized plan based on your personal situation and risk tolerance. 

When planning for your financial future, taking advantage of tax-free income and savings accounts is essential. As there are a lot of complexities that come with this investment strategy, those in the Ft Meyers, FL area should call the professionals with the Martin Insurance Team. The insurance professionals with the Martin Insurance Team can offer a lot of support when it comes to helping you prepare for your retirement and the tax advantage of these benefits. 

4 Things To Look for When Choosing Auto Insurance Coverage

When it comes to car insurance, there are many things to consider. But don’t worry, we’re here to help. This post will cover four key things you need to look for when choosing auto insurance coverage. So whether you’re a first-time buyer or just looking for a refresher, read on for some helpful tips.

1. Make Sure You’re Getting the Right Amount of Coverage

It’s vital to ensure that your auto insurance policy covers you for the right amount. You don’t want to be underinsured and risk paying out of pocket for damages or being overinsured and wasting money on unnecessary coverage. Be sure to speak with your insurance agent to determine the right amount of coverage for your needs.

2. Consider Your Deductible

A deductible is the amount of money you must pay before your insurance kicks in. It’s important to choose a deductible that you’re comfortable with and one that won’t put too big of a financial burden on you if you have to file a claim. Generally, the higher your deductible, the lower your monthly or annual premiums.

3. Understand Your State’s Minimum Coverage Requirements

Each state has its minimum auto insurance coverage requirements. Be sure to familiarize yourself with your state’s requirements to make sure you’re getting the right amount of coverage. However, remember that meeting your state’s minimum requirements is not always the best option, as you may still be underinsured.

4. Know What Additional Coverage Options are Available to You

Once you understand the basics of auto insurance coverage, you can start to explore additional coverage options that may be available to you. Common options include collision and comprehensive coverage, personal injury protection, and roadside assistance. Be sure to speak with your insurance agent about which options are suitable for you.

Get Insurance in Florida

Choosing the right auto insurance coverage can seem daunting, but it doesn’t have to be. Just keep these four things in mind, and you’ll be on your way to finding the perfect policy for you. And if you’re ever unsure, our Martin Insurance Team in Ft Meyers, FL, is always happy to help! Give us a call to request a quote.

 

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 Meyers, 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 Meyers, 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 Meyers, 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 Meyers, 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!