Commercial Insurance Options for Dorchester, MA Business Owners

If you own a business in and around Boston, MA, accidents happen whether you are prepared or not. One of the best ways to protect your business is by investing in commercial insurance. There are numerous types of business insurance, and narrowing it to the one that suits your business can be challenging.

Vargas & Vargas Insurance walks you through the options and will guide you to choose the ones that meet your business needs.

  • General liability insurance: While this insurance isn’t mandatory in Nebraska, it’s a must-have investment for every business. Given the ubiquitous nature of claims like advertising injury, property damage, bodily injury, and even suits, your business will be treading on thin ice if you don’t have liability insurance.
  • Umbrella insurance: Like mentioned, liability claims are never far away from your business. While your liability insurance is great, it can only do so much when faced with significant liability claims. However, when you have umbrella insurance, it picks up from where your general liability insurance leaves off.
  • Property insurance: Your business operates because of the support it gets from assets like computers, furniture, buildings, and so on. So, it makes sense to invest in insurance that protects your assets from perils like fire, lightning, theft, vandalism, and natural disasters, among others.
  • Workers’ comp insurance: This coverage is mandatory in Massachusetts regardless of the number of hours worked by your employees.
  • Commercial auto insurance: Whether you have a fleet of vehicles or one car used to run commercial errands, you must invest in commercial auto insurance to protect your vehicle and the driver.
  • Professional liability insurance: If you offer professional services, you should invest in this coverage since it protects you when your actions lead to financial distress for clients.

Need to invest in commercial insurance? Need to learn more about commercial insurance? If you need any of these services in Dorchester, MA, don’t hesitate to contact Vargas & Vargas Insurance.

Vargas & Vargas Insurance is one of the premier local independent insurance agencies. We work for our clients and not the insurance company. Our team will customize your insurance coverage to your specific needs at the right price, and we’re also here to answer all your insurance questions. So contact us today.

What A Home Insurance Policy Doesn’t Cover

Is your home insurance policy covering you when you need it most? If you’re like most people on a “standard” home insurance plan, there are several things that aren’t actually covered with your policy!

Don’t worry – you’re about to find out what a home insurance policy doesn’t cover, and how you can quickly make a few updates to your plan to make sure you’ve got the coverage you need.

Before we get into that, take a quick inventory of what you’re hoping is covered in the case an unfortunate event presents itself to you. As we take a deeper dive into what isn’t covered, you’ll be able to quickly identify whether you’ll need extra coverage or if you’re in the clear!

What Doesn’t A Home Insurance Policy Cover?

Most home insurance policies don’t cover the following:

  • In-Home Businesses
  • Floods
  • Earthquakes
  • Vehicles used for business
  • High-value Jewelry.

Take a quick look at each in more detail, and how you can protect yourself.

In-Home Businesses Are Not Covered By Your Homeowners Insurance

Did you join the recent surge of people deciding to jump into at-home work, including freelancing, or even starting a business that’s based in their home? Whether you’ve just started or you’ve been at it for years, many people are unprepared for a sudden loss to their business equipment.

Don’t let that be you!

There are several ways to get your business property covered if you’ve got a home-based business.

According to the Insurance Information Institute (III), you can:

  1. Add a Policy Endorsement to your existing homeowners insurance. This simple endorsement is a simple way to increase your coverage to include business property. If your policy has minimal coverage for business property already (as some policies do), this can be a low-cost way to get the coverage you need.
  2. Add an In-Home Business Policy. This policy is for you if you need more comprehensive coverage for business equipment and have a need for liability coverage for your business. It can be a life-saver if you need to recoup costs beyond simple business property, such as loss of important papers, records, income, etc.
  3. Add a Businessowners Policy (BOP). If you’re a small/mid sized business that operates out of more than one location (including your home), you’ll want to consider the broader coverage offered by a BOP. 

Be Careful: Floods Are Not Covered In Most Home Insurance Policies

This one is slightly tricky, as most people don’t think they live in an area susceptible to flooding.

However, “flooding” can mean many things in your insurance policy. For example, a failed sump pump or water damage due to a clogged drain are generally not covered in a standard home insurance policy.

Many people have been saved by adding a separate flood insurance policy, as there is some gray area in standard policies, and they chose to be safe rather than sorry!

Earthquakes Aren’t Covered

Earthquakes are on the rise, according to data compiled by the National Oceanic and Atmospheric Administration branch of the US Government (and shown in this chart). Despite this, earthquakes are not covered by most home insurance policies.

If the thought of an earthquake hitting your area makes you tremble a little, you may want to consider specific earthquake coverage to be on the safe side.

Vehicles used for business

Not surprisingly, vehicles used for business are not covered in a homeowners policy, even if the damage to the vehicle happens on your property.

High-Value Jewelry

Jewelry-lovers take note! If you’ve got jewelry valued at over $2,000, there’s a good chance your homeowners insurance will not cover these pieces.

To make sure you’re covered, you can easily add on additional coverage into your policy to account for the loss if something should happen to your valuables. 

We’d recommend learning about coverage for commercial auto insurance if you own vehicles used for business, or check with your employer to ensure they have the correct coverage.

We’re Here To Help Find The Right Coverage For Your Situation

Don’t be alarmed if you’re in any of the categories above. Everyone’s situation is unique, and you deserve to be informed about what is – and what isn’t – included in your coverage. 

Let’s talk over your current policy and make sure you’ve got everything you need for your situation. 
Contact us today to get a customized plan, or to just get the peace of mind that you desire!

Homeowners Insurance Facts

If you own and home or condominium with an outstanding mortgage, you are required to carry homeowner insurance.  But, if you are thinking of purchasing one, you should know what insurance policies cover and don’t cover you for.

Some Loses are not a Part of Home Insurance

If you plan to purchase home insurance, you need to know that standard policies don’t cover earthquakes or floods. In these cases, you may need to add the coverage to your home or condominium policy or purchase separate policies that offer you coverage for these perils.

Some Dog breeds can make it Challenging to Purchase Comprehensive Insurance

All homeowner’s policies give you coverage if your dog bites someone. This way, the liability portion of your insurance saves you from financial ruin. But some insurance providers refuse to offer coverage to homeowners who have dogs with different breeds like Rottweiler and bulls. Therefore, you may have to dig a bit deeper to find the right insurance policy that will also cover you for dog bites.

Polices Can Cover Plane Crashes

Of course, there are chances of a plane falling from the sky onto your house, but some insurance companies still offer you coverage for this. They even offer you a plan for several things that can fall from the sky, including the tree.

Food Spoilage Coverage

A power outage can occur due to several problems. When your fridge is not working, your stored food may get spoiled in a few hours. Some insurance policies offer food spoilage coverage, this kind of coverage will pay you for your spoiled food.

Volcano Damage Plans

It might surprise you, but there are home insurances that cover volcanic damage. If you live near volcanic mountains, this plan is beneficial for you. Even if the volcanoes have been dormant for centuries, it still has some risks. Well, it’s better to save yourself than feel sorry.

Birds Damages and Vermin

Any damages caused by birds, Racoons, or squirrels making their way into your attic are not part of standard homeowner’s insurance plans. Whether wild birds have made a nest on your roof or have damaged your windows, you have to make repairs and replacements all by yourself. The best way to prevent further damage is to call animals experts like Clancy Bros Pest Control who can help you get rid of these creatures.

The Bottom Line

These homeowners insurance facts may have encouraged you to read the policies and plans carefully to get the coverage you are looking for. You can also read our blog on Home insurance terms you need to know..

At Vargas & Vargas Insurance, we offer top-rated insurance services that will help you keep your business safe during the winter season. All our clients enjoy customized insurance coverage to match their unique needs as we offer affordable prices. So contact us today for a free quote.