The world of insurance can be complex, and it is always changing. At Gregoire Family Insurance, we strive to keep our clients up to date and informed about the world of insurance. Below are some of the questions we are asked most often, along with our answers. If you do not see your question below, or if you would like more detail over the phone, please feel free to give us a call at (941) 889-7836.
What is covered in my standard “general liability” policy?
In general, commercial liability insurance is the most comprehensive type of insurance for coverage of general liability, owners & contractors protective liability, liquor liability, products completed operations liability, railroad protective liability, pollution liability, and umbrella liability insurance. It is important to thoroughly read and understand your policy to be aware of exactly what is and is not covered.
How do I know if I need workers’ compensation insurance for my business?
In Florida, if you are in construction, you either need an active exemption or you need workers’ compensation insurance. If you are a business owner with more than 3 employees, then you need workers’ compensation insurance.
My business has unique insurance needs based on our industry, and how and where we do business. Can you help tailor an insurance policy for my specific business?
Yes, we can tailor an insurance policy for your specific industry and type of business. In certain cases, we can also refer you to a trusted specialist agency, if that is the right solution for your business.
We have employees that sometimes drive their own vehicles on company business. How can we protect the business if they are in an accident while on the job?
It’s important to know that workers’ compensation insurance is primary if any employee is driving during work hours, either with their own vehicle or with a company vehicle. Workers’ compensation covers injuries. However, on a liability basis, when an employee is driving their own vehicle for work purposes, the business owner is still legally liable for any accidents (bodily injury, property damage, etc.) That is why the purchase of non-owned auto liability or a “Symbol 1” auto policy is very important. In the insurance world, “Symbol 1” means any and all vehicles coverage.
Personal & Home Insurance
If my home suffers damage from a hurricane, is that covered by my home insurance? Do I need additional wind insurance to be covered for hurricane damages?
Hurricane damage is covered with a wind policy. Some home insurance policies include wind coverage, and some policies do not. In many cases, the wind coverage portion of your policy will have the option of a 2%, 5%, or 10% wind deductible. It is important to make sure your home insurance policy includes wind coverage, if you are in an area that could be hit by a hurricane.
How do I know what flood zone my home is in, and how does that affect my insurance rates?
We can help you determine this, and help you make sure your insurance covers you for the proper flood zone. There is a flood insurance map that was developed by the Federal Emergency Management Agency (FEMA). This is an “intelligent” map, as it is more than just digital drawings. The map is a computer-based tool that can be used for automated analysis and map updates, which is not possible with paper maps. DFIRM data is now available for many of the highest flood risk areas.
Also, you should be aware that home insurance does NOT include flood insurance. Coverage for damage caused by flood may be available by endorsement to an all risks policy or to a difference-in-conditions (DIC) policy. Normally, the coverage provided is subject to a per-occurrence sublimit, an annual aggregate limit, and a separate deductible. Coverage may also be available from the National Flood Insurance Program (NFIP). Flood insurance is a separate policy that can be purchased.
If I am traveling and my jewelry is stolen or goes missing, is it covered in my home insurance?
Not necessarily, which is why expensive jewelry should be scheduled on a separate policy, often called “inland marine coverage.”
What is umbrella insurance, and how do I know if I need it?
Umbrella insurance is a policy designed to provide protection against catastrophic losses. It generally is written “over” various primary liability policies, such as the business auto policy (BAP), commercial general liability (CGL) policy, watercraft and aircraft liability policies, and employers’ liability coverage. The umbrella policy serves three purposes: it provides excess limits when the limits of underlying liability policies are exhausted by the payment of claims; it drops down and picks up where the underlying policy leaves off when the aggregate limit of the underlying policy in question is exhausted by the payment of claims; and it provides protection against some claims not covered by the underlying policies, subject to the assumption by the named insured of a self-insured retention (SIR).
There are many reasons to have an umbrella policy. Some of the most common include protection of net worth from lawsuits of various kinds, as well as changes or increases to your family’s “risk profile,” such as the addition of teenagers or new drivers to the household, major life events like marriage, and other reasons. On the commercial side, umbrella insurance can help protect businesses from larger liability issues and protect the company’s net worth/equity.
If I have a DUI, a bad driving record, or bad credit, how can I get auto insurance?
In most cases, it IS possible to get car insurance even if you have some issues with your driving record or your credit. In the case of DUI, states may require an FR44 “Financial Responsibility” filing. Obtaining insurance with a DUI on your record can be a difficult process, and it can be expensive, but it is not impossible. You will want to speak with a trusted and knowledgeable insurance agent to help you through the process.
What does it mean that Florida is a “no fault” state?
This means that insurance companies may be required to provide or offer to provide first-party benefits for medical expenses, loss of income, funeral expenses, and similar expenses without regard to fault in the accident. “No fault” coverage is also often referred to as PIP (personal injury protection). Coverage, limits, and each party’s responsibilities vary from state to state.