How Often Should I Review My Home Insurance Policy?

A lot can happen to your home from year to year in Pinecrest, FL. It’s critical that you keep your home insurance policy up to date. Otherwise, you run the risk of not having the coverage that you think you do. At Hamilton Fox & Company Inc., we recommend reviewing your policy every single year.

There are quite a few things to look at when you review your home insurance policy. This includes the cost as well as the coverage. The cost may vary from year to year, which is also why you should get quotes from multiple insurance companies on an annual basis. As for the coverage, if you have added various components to your homes, such as a pool or a free-standing garage, these need to be added to your policy.

You may qualify for new discounts, too. If you fenced in your yard or added a security system, you have made your home safer. It’s worth mentioning to the insurance company as they may supply you with a discount.

Since so much can happen in a year, you might not think to add them as they occur. By taking the time to review the details of your policy, you can make sure that everything you own is covered. If you have made a number of major purchases, you may even want to add a high-value rider so that you are protected if your personal belongings are damaged or stolen.

You will want to protect your home in Pinecrest, FL however you can. While it’s easy to think that your home insurance policy is enough, you have to keep it updated. Contact us at Hamilton Fox & Company Inc. today so that one of our independent insurance agents can help you with any updates that need to be made to your policy.

 

 

Daycare Centers and Umbrella Insurance

Daycares are an important part of many family’s lives and provide high-quality care at a reasonable price. If you run a daycare in Pinecrest, FL and need help finding a policy for your company, let us at Hamilton Fox & Company Inc. explain how this type of coverage helps.

How Insurance Protects Your Clients and You

Daycare insurance is designed to not only protect your financial status but to ensure that your clients are safe and healthy while visiting. This type of commercial insurance is designed to provide payments for injuries and damage caused to your clients or your building.

This coverage protects your clients by paying them money instead of forcing them to pursue a lawsuit. By contrast, it protects you by keeping you from losing money in a lawsuit. Just as importantly, it helps to repair damage caused to your building by improper activities and actions.

Coverage Varies Based on Your Location

One interesting fact that could affect your daycare insurance is where your facility is located. For example, if you run a daycare center out of your home, your policy will vary because your home will be classified as a business and treated as such by your policy.

Conversely, operating a daycare center in an office building – or another commercial center – typically requires you to get a slightly different type of policy. The exact differences are mostly minor and mostly affect what items that you can ensure on your daycare property.

Find a Policy That You Like

So if you run a daycare center in Pinecrest, FL and want to insure yourself and protect your clients, please contact us at Hamilton Fox & Company Inc. We have many options for daycare centers like yours and will work to provide you with the best possible policy.

Is Flood Insurance Mandatory In Pinecrest, FL?

Floods are merely a fact of life for those who reside in Pinecrest FL and the surrounding regions. Residents of these areas often meet with Hamilton Fox & Company Inc. representatives to learn more about the options that are available to them. Did you know that there federal requirements in the region?

That’s right. Any community that participates in the National Flood Insurance Program must remain protected. The same goes for any local residents whose home has been backed by a federal loan. These two requirements essentially cover all citizens of the state of Florida, no matter the region.

These requirements are meant to protect those who reside in high-risk areas. Some homeowners may be able to skirt the federal requirements but they will need to apply for an amendment to do so. A licensed land surveyor and a registered professional engineer must look over the property before a letter of map amendment is issued.

The state of Florida itself does not require residents to purchase any flood insurance. It is important to note that these recommendations come from the federal government. Insurance companies that are located in the state of Florida must pay close attention to the statutes that have been enacted as well, as there are various laws that change on a consistent basis. 

This is how problems are avoided. Scheduling a consultation with local insurance agents is in your best interests. These meetings allow a Florida resident to learn more about their specific requirements and ensure that all federal regulations are being met. Even those who reside in non participating communities are urged to take a closer look at their current policies. 

To find out more about flood insurance requirements in Pinecrest, FL and the surrounding areas, be sure to contact Hamilton, Fox & Company Inc. as soon as possible. 

 

 

 

Getting Help for Workers’ Compensation Insurance

Florida law requires it, your employees deserve it, your company is worth it, and your business needs it. Workers’ Compensation is a big deal. It is a big deal when an employee has considerable medical expenses to be covered. It is a big deal in the eyes of the law and it is a big deal when it protects your business. It is also being forecast to become more expensive as one story reported:

 …with workers’ compensation being such a long-tail business, premiums collected today must cover losses 30 years into the future. As losses continue to climb, it is inevitable that insurance rates will need to increase in the future to offset those losses.

These are only a few of the issues that businesses working in places like Pincecrest, FL must contend with and a few reasons why having the right insurance partner just makes good business sense.

A Partner for Your Company’s Workers’ Compensation Needs

The industry you work in, the number of employees you have and even where you work will play a role in determining the best Workers’ Compensation plan not only for your business but also for your employees. At Hamilton Fox & Company Inc. we have helped companies of all sizes in and many industries get the right plan for their business and its people.

If you need Workers’ Compensation insurance, need to update your plan or have questions and concerns regarding your company’s coverage or plan, contact us today for help. Don’t get lost in the red tape, the workers’ compensation process or the struggle of dealing with your company’s insurance plan. Get help and get it right with the professionals at Hamilton Fox & Company Inc., here to make sure you, your business and your employees are covered.

 

Is Umbrella Insurance Right for People Who Live on the Beach?

Having the right type and amount of home insurance is the key to protecting your home and your financial future. People who own homes in areas where there is a higher risk of damage as a result of natural disasters must consider adding additional coverage to fit the circumstances. For example, people who own a beach home must make sure that they have enough coverage to repair or replace their home in the event of a tropical system or another type of storm. If the insurance you have isn’t enough, it may be time to consider umbrella insurance.

Umbrella Insurance Protection

Umbrella insurance is designed to add an additional layer of protection above the limits of your home insurance policy. In certain circumstance, you may not be able to acquire enough protection for any number of reasons. This can be especially true is the home is located in a perilous location such as a storefront or beach. Consult a qualified insurance company to find out if umbrella coverage is right for your special situation. 

Getting the Right Insurance Coverage

If you live in an area where you face a higher risk of incurring damage as a result of a natural disaster, then you may want to consider purchasing umbrella insurance so you don’t face financial losses due to inadequate insurance coverage. Consult a knowledgeable insurance expert such as Hamilton Fox & Company Inc. serving the residents in and around the Pinecrest, FL area. They can help you determine which coverage options are right for you.

Don’t risk loss due to a lack of coverage if you live in an area where you are susceptible to losses. Residents living in or around the Pinecrest, FL area can count on Hamilton Fox & Company Inc. to guide them when making an insurance policy purchase. Call or stop by the office for more details. 

How boat insurance works

.Boats are great for leisure activities and for water transportation. However, boats are relatively expensive investments that must be properly secured through reliable insurance coverage. While there are several boat insurance options out there, choosing the right policy is never a walk in the park. Hamilton Fox & Company Inc. can help you understand how boat insurance works in Pinecrest, FL, then you can choose what works best for your specific needs. Boat insurance works by providing the following protections:

Physical Damage Coverage

When cruising on the waters, your boat is faced with multiple risks like hitting another boat or obstacle. In case such damages occur, boat insurance will provide compensation for the cost of repair or even replacement of your boat in case of a total loss.

Liability Coverage

This coverage is more about other parties that you come in contact with as you ride your boat. If you happen to cause an accident with you boat and damage other people’s properties or inflict injuries to third parties, your boat insurance will cater for the losses. It covers legal fees when you’re sued and medical expenses for the injured persons.

Medical Coverage

Additional coverages like medical coverage can be included in your boat insurance. It caters for the medical expenses when you and your passengers are injured in a boat accident regardless of who is at fault. That way, you won’t worry about paying such high bills out of pocket.

Hamilton Fox & Company Inc. specializes in customizing boat insurance coverages that suit the unique needs of boat owners in Pinecrest, FL. Head straight to our website and learn about the several insurance options on offer. You can also give us a call and speak to one of our friendly agents.

 

Should You Consider Flood Insurance?

Contrary to popular belief, flood insurance is not usually included with home insurance. This is a mistake that a lot of people make simply because they do not look at the fine print of their current policy or they just assume otherwise. You never want to assume this type of coverage in Pinecrest, FL because if you need it and do not have it, you could end up in a lot of financial trouble. Here at Hamilton Fox & Company Inc. these are a few different reasons you should consider getting it.

  • Hurricanes happen. One of the biggest reasons to get this type of coverage is that hurricanes happen and they happen a lot in FL. You do not know when they will happen but it is good to have in place when it does. 
  • Your home insurance may not cover it. You will want to check with your home insurance provider but if it is not included, now is a good time to get it. Plus, it is never a good idea to assume you have it. 
  • Floods can happen in many situations. A flood can happen with a burst pipe, an above ground pool leaking, or even in a really bad series of storms. You should not just assume that it can only happen in hurricanes because floods happen all year long and in a lot of different and unique ways.

We think that you should always have flood insurance in place because you cannot control the weather and there are a lot of other situations that can lead to a flood as well. If you are ready to get your flood insurance, be sure to contact us today at Hamilton Fox & Company Inc. serving Pinecrest, FL. We can get you a free quote and get you set up in no time.

Only You Can Prevent House Fires

According to the National Fire Protection Association, 358,500 house fires occurred on average in the United States during the years 2011 to 2015. On average for each of these years, 2,510 people died, and 12,300 people were injured as a result of these kinds of fires. House fires have resulted in an average damage of $6.7 billion a year.

Are there ways that you can avoid becoming part of these statistics? Hamilton Fox & Company Inc., serving Pinecrest, FL, has a few tips:

  • You should never let an open flame be unattended. Open flames include candles, fires in fireplaces inside the house, and barbecue grills and fire pits outside the house. An errant ember can lead to a conflagration that will put you and your family’s lives at risk while possibly destroying your home
  • Keep cooking surfaces clean of grease. Grease fires are one of the leading causes of house fires. Try not to leave something cooking on the stove unattended
  • Make sure smoke detectors are in every room and a fire extinguisher is readily available. Stopping a small fire before it becomes a big one can prevent your home from being damaged or destroyed
  • Be sure your yard is clear of dead leaves and other brush that can prove to be a fire hazard
  • If you smoke cigarettes, never smoke in bed, and be sure to douse the spent butts with some water before disposing of them
  • Have a plan for evacuating the house in case a fire occurs and gets out of control. Note escape routes and means of exiting the house

If you have any more questions about home insurance, feel free to contact Hamilton Fox & Company Inc. serving Pinecrest, FL. Our agents can explain the many benefits of having a policy.

Why Do You Need Restaurant And Bar Insurance?

The agents of Hamilton Fox & Company Inc. in Pinecrest, FL will walk you through the ins and outs of operating a Florida bar and restaurant. Anyone who has worked in a bar or restaurant enjoys the spirit of consuming good food and drink. But behind the scene is a jungle of liability from your first drink to your last trip to the salad bar. The liability is a result of alcohol abuse which could lead to assaults and car accidents, food poisoning, slip and fall accidents, employee injuries, and the dangers of fire to spilled oil in the kitchen.

Before a Florida bar and restaurant can open for business, its owners must contact the: 

  • Division of Alcoholic Beverages and Tobacco
  • Department of Business and Professional Regulation
  • Florida Department of Health (Health, Safety, and Sanitation)
  • Florida Workers Compensation Regulations 

These Florida Departments regulate the people who operate the bar and restaurant, the alcohol served, the regulation of all matters concerning food safety, sanitation, and issues related to worker injuries.

Further, there are multiple issues related to insurance that a business owner must consider, including:

  • Business Owner’s Policy
  • Commercial Auto Liability Coverage
  • Workers Compensation Insurance
  • Commercial Property Insurance
  • General Liability Coverage
  • Liquor Liability Coverage
  • Assault and Battery Coverage 
  • Fire Insurance 
  • Income Coverage
  • Food Contamination Insurance 

After you protect yourself from the multiple perils, business practices must be established such as:

  • An employer/employee manual 
  • Training to ensure the health, safety, and sanitation
  • Practices to control food safety, quality and preparation 
  • Liquor control policies
  • Fire and safety inspections
  • Recordkeeping 

The business owner must decide what activities are safe because every policy has its list of exclusions. The agents of Hamilton Fox & Company Inc. in Pinecrest, FL are experts in advising you about Bar and Restaurant Insurance. Please call for a quote and more information.

What Does Workers Comp Insurance Provide?

When you are a business owner or manager, there are many crucial decisions that you will have to make. One important decision you’ll have to make is to pick the right insurance policy. One type of business insurance that you will need to have is commercial workers compensation insurance. For those in the Pinecrest, FL area, workers comp insurance can provide many different benefits to you and your employees.

Medical Benefits

The first thing that workers compensation insurance will provide is medical benefits coverage to those that are injured while working on the job. This type of insurance coverage specifically provides coverage to individuals that are injured while working at their job. As opposed to having to use their own insurance coverage, the workers’ comp policy will provide necessary medical benefits to ensure they are taken care of while in the hospital.

Lost Wages

If someone is injured while they are working on the job, the workers’ comp medical benefits will be beneficial. However, they still will not be able to work for a period as they recover from their injuries. An employer will be able to take out a workers comp policy that will provide the employee with pay while they are recovering from their injuries. It can also provide extended disability coverage to those that incur more serious injuries and cannot work for a while. 

Business owners that are in the Pinecrest, FL area and need more help in picking a workers compensation insurance policy should consider contacting Hamilton Fox & Company Inc. When you reach out to Hamilton Fox & Company Inc., we can give you more guidance as to what type of commercial insurance you need and will work to make sure your questions are answered. Reach out to our offices for more information.