How Does Excess Insurance Work to Protect Me?

Insurance is a general term to refer to a practically infinite amount of policies. But the truth is that insurance has to be flexible because life itself can’t be predicted. Excess insurance is just one way to plan against the extreme events in life. So if you live in Pembroke Pines, FL and want to know more about how you can do more to protect yourself, it might be time to learn more about excess insurance from the friendly experts at McCormick Insurance Inc. 

How Excess Insurance Can Help

Both umbrella and excess policies are designed to increase the liability coverage of your policy. So if you happen to come up with an extreme type of claim, you’ll have everything you need to keep yourself from financially going under. While it won’t give you any additional kinds of protections when it comes to your policy, it will increase the limits of what’s already covered should you need it. This means if you own a business or a home and you’re accused of neglect, you can use excess insurance to handle everything from direct lawyer fees to the costs to restore your reputation. 

Finding the Right Provider 

Liability claims can be some of the most expensive types of claims. If someone trips on your sidewalk crack because you weren’t able to get them replaced, you could be looking at medical claims that far exceed your current coverage. If you live in Pembroke Pines, FL, calling McCormick Insurance Inc. is the first step to finding out more about how excess insurance can work to your advantage. Contact us today if you’re looking for a quote or if you want to learn more about where your particular vulnerabilities lie. We can help you figure it out today. 


3 Tips for Getting Builder and Vacant Risk Insurance in Pembroke Pines, FL

Vacant dwelling insurance policies cover a home if it remains vacant for a specific amount of time, which usually has to be a minimum of 60 days. The builder’s risk insurance policy will cover any building that is still under construction. 

These are two types of insurance available to residents in Pembroke Pines, FL from McCormick Insurance, Inc., that some people are unaware of, but that can be extremely beneficial in certain situations.

If you are interested in this type of insurance coverage, then you should use the tips here to make sure you get the right policy for your needs. 

1. Bundle and Save

Chances are you already have a few other insurance policies provided by an insurance company. You have also likely heard that when you purchase several policies from the same provider, you can actually save money. 

This is true for most insurance companies. As a result, if you are thinking about purchasing builder or vacant risk insurance in Pembroke Pines, FL, consider working with your current insurance provider to see if savings are possible. 

2. Compare Quotes

While asking your current insurance provider about this coverage is a good idea, you don’t want to automatically jump at any offer given. This can leave you with a policy that costs more than you actually want to pay. 

Instead, make sure to gather a quote from your existing provider, and then a few others. This will help ensure you get the best deal and most value. 

3. Work with a Reputable Agent

The absolute best thing you can do is work with a reputable agent. They will help ensure you get the coverage and price you want and need. 

If you need more information about vacant or builders risk insurance, you can also contact the helpful staff at McCormick Insurance Inc.


What You Need to Know About Buying Flood Insurance as a Renter

If you are renting a home, condo, townhome or other dwelling, you may have a renters insurance policy. But many renters do not realize that this policy does not protect their belongings in the event of a flood. Here at McCormick Insurance Inc. serving Pembroke Pines, FL, we want renters to know all about flood insurance. Here is what you need to know about buying flood insurance as a renter. 

If the Homeowner’s Policy Helps Renters

As a renter, one of the biggest mistakes you can make is assuming that the homeowner’s insurance policy will cover you in the event of a flood. The homeowner’s insurance policy will not cover you in any way if a flood occurs. 

If a Renters Policy Covers You

Another mistake you can make is assuming that the renter’s insurance policy that you have will cover you if it floods. Most renters insurance policies specifically preclude flooding. As such, you will need a specific policy that is intended to cover flooding. 

What Renters Flood Insurance Covers

As a renter, a flood policy will cover your belongings. If your furniture, electronics, clothing or other goods get damaged due to a flood, your flood insurance will kick in and pay the fair market replacement value, allowing you to replace your belongings. In addition to this, the policy will also pay for you to live somewhere else if the home becomes inhabitable due to the flooding. 

Here at McCormick Insurance Inc. serving the Pembroke Pines, FL area, we want renters to know all about flood insurance, so they can purchase a policy to help cover themselves. If you are a renter and do not have flood insurance, now is the perfect time to get started buying one. Contact us today to get started. 

Safe Boating In Pembroke Pines

You never see safe boating in movies or on television. Why not? If you’ve been boating in and around Pembroke Pines, FL for any length of time, then you know that you’re not supposed to go blasting full speed past the docks. You don’t want to kick up a wake that sends everyone else’s boats slamming into one another, leaving McCormick Insurance Inc. (or whoever your provider is) holding a massive bill and wondering whether it’s worth keeping you as a client.

But in the movies and on television, nobody ever slows down for the docks. Nobody ever keeps an eye on the buoys. Filmmakers seem to assume that open waters are just the wild wild west where no rules apply. The truth is quite the opposite. For instance, on the road, you’re not obligated to help a stranded traveler. But out on the water, you have a responsibility to do what you can to help should you come across a fellow boater in trouble.

Likewise, you can hit the road without even glancing at a weather report, but out on the water you’d better take a look and make sure that there are no storms or choppy waters coming in. Simply put: There’s a lot more to keep in mind for piloting a boat than there is for driving a car. It is true that a multiple-vehicle collision is less likely on the water than on the road, but beyond that there is quite a bit that needs to be considered before untying your watercraft.

McCormick Insurance Inc. can help to cover you when the unforeseeable happens, but nothing serves as a suitable substitute for safe boating.

What does RV Insurance cover?

If you own an RV or you are looking to get one in the near future, it’s vital that you take up an RV insurance cover for your investment. Generally, an RV Insurance policy covers your recreational vehicle against damage as a result of an accident. 

What are the primary coverage options? 
At McCormick Insurance Inc. we offer the following RV insurance coverage options in Pembroke Pines, FL. 

Comprehensive coverage
Under the comprehensive cover, you are protected against damages to your RV that are not caused by an accident. Here you are covered against the theft of your RV or any other damage such as flood damage. 

Collision coverage
In Florida, you are required to have a minimum amount of collision insurance for your RV. Essentially, this coverage comes into play during an accident and helps you settle the cost to repair your vehicle. The policy also covers the repair costs of the other vehicle involved in the accident.

Uninsured and Underinsured coverage
Sometimes you may be involved in an accident with someone who is not covered, or his/her cover is insufficient to cover the repairs needed. This coverage option tops up the repair cost in such an incident. 

Why choose McCormick Insurance Inc. for your RV coverage?

Tailor-made RV insurance cover
At McCormick, our RV insurance coverage option is tailor-made to meet your immediate needs. Our limits are flexible, and you can choose from an array of options available.

Expert advice
We go beyond offering an RV insurance policy. Our expert agents take time to analyze your preferences and advice you accordingly. Also, our RV insurance policy meets the legal requirements of the state of Florida.

We would like to cover your residential vehicle today; we service the Pembroke Pines, FL area, kindly contact us today for more information and a quote. 

Do I need Umbrella Insurance?

An umbrella insurance policy covers excess personal liability. The purpose of this policy is to provide protection above and beyond the limits covered by your condo insurance, homeowner’s insurance, watercraft insurance, or any other personal insurance policy that you may have. Umbrella insurance from McCormick Insurance Inc. provides you with added liability protection for claims that may arise, and even lawsuits. You can consider it as an inexpensive way to protect your established assets as well as your financial future.

Why You Need Umbrella Insurance Policy?

Umbrella insurance policy requires you to have a primary policy – it is a secondary policy. The primary or underlying liability policy needs to first pay out on any claims that have been made before the umbrella policy can become effective.

This policy can provide you with protection from:

  • Associated legal defense costs in the event that you get sued for injuries or damages to other people or their property.
  • Litigation that may arise from injury or property damage.

Who Can Benefit from This Insurance Policy?

McCormick Insurance Inc. is serving Pembroke Pines, FL, and recommends that any person who has established some assets that they wish to protect in case they get sued should get this type of policy. When you get sued, there is always the possibility that you will lose valuable assets that you have built over the years. This may include any savings that you may have, which means that any person with an asset is at risk. If you own a business establishment in Pembroke Pines, FL, it’s highly recommended that you get an umbrella insurance.

In a litigious society, all items are always up for grabs, including your assets and savings. For more information on how you can use an umbrella policy to protect your future, call or visit our offices, and one of our agents will help you with any concerns. 

Does flood insurance cover special items like paintings which are destroyed?

If you live within a high-risk flood area and receive any kind of federal assistance in buying or building your home, the federal government requires you to obtain special flood insurance. However, even if you are not required to have flood insurance for your home in Pembroke Pines, FL, you may need a policy to protect yourself against losses.

However, you may have some truly unique items like paintings or special clothing or artwork which are not only expensive but irreplaceable. It is important to know whether you are also protected against those losses. 

We at McCormick Insurance Inc. understand how important your valuables are to you. A great deal of thought goes into acquiring such special items, and they can have a special emotional attachment too. We can help you explore the various options you can take to insure your jewelry and artwork.

If your valuables are stolen or damaged, a regular flood insurance policy will cover damages up to your policy limits. You may need to get additional coverage because of the value of the items.

Most insurance policies also only try to pay compensation for losses. They may assess the value on what the value is versus the replacement cost, and often take into account factors such as wear and tear or depreciation.  When it comes to a truly unique item, you may want to find a policy that restores your artwork instead of just replacing it. That might even turn out to be the most economical option, depending on what is needed to restore your items. 

If you possess unique and valuable items, you want to make sure they are protected. McCormick Insurance Inc. proudly serves  Pembroke Pines, FL and helps find the best options for every client.

Does Boat Insurance Cover Repairs From Hitting Debris?

Your boat is a piece of machinery that takes time and effort to keep running smoothly. You have to invest money in it each year to make sure that it is running properly and as such hitting debris and causing damage is a big issue. For those in the Pembroke Pines, FL area, the agents with McCormick Insurance Inc. can help you find the policy that works best to protect your boat.

So, does boat insurance cover damage caused by hitting debris? The overall answer to this is a bit difficult to answer and may not be something that you can get in a few short sentences. In most cases, your basic boat policy is going to cover injury to passengers, collision, and damage caused by accidents. It may cover things like hitting a buoy or a dock but you will have to discuss that more specifically with your insurance agent.

In most cases, your policy is not going to cover the damage that you incur from hitting something that was readily avoidable in the water. If you are driving your boat and you hit a piece of debris that was clearly visible and that does not do a great deal of damage, odds are you are going to have to foot the repair bill. If you hit something under the water however that was not clearly, visible, most policies are going to help cover repairs.

The real issue is making sure you have a policy that covers your unique boat as well as your unique usage. If you live in an area and boat in an area where there is a great deal of debris and therefore accidental damage is likely, your policy should reflect that. For those that live in the Pembroke Pines, FL area, the agents with McCormick Insurance Inc. Insurance can help.

The Difference Between Excess and Umbrella Insurance

If you live in Pembroke Pines, FL, it would be a good idea to get familiar with umbrella and excess insurance. What are those two and what do they cover? Well, McCormick Insurance Inc. can answer those questions today. Keep reading to find out the difference between the two.

Umbrella Insurance

This type of insurance is used when your primary coverage is exhausted. If your home, auto, or other insurance has reached it’s limits in a legal battle, this is where your umbrella insurance would kick in. It also covers libel and slander, things that many traditional insurances do not protect you from. Another great thing about umbrella insurance is that you can be covered anywhere in the world. One thing to know about this type of insurance is that you must already have home or car insurance to get an umbrella policy. Think of it as an add-on.

Excess Insurance

In the event of an accident where you need to pay money for repairs, excess insurance will help you out. It is a contribution you make to your car insurance that will provide you with insurance that is a lot more than the primary liability policy. It works like this: when a claim is made to your insurance company, the underlying policy would be used to pay for damages. If the claim amount is greater than the policy, then this is where excess insurance would pick up where your primary policy left off.

Both excess and umbrella insurance help fill in the gaps of your primary coverage. But the difference is in what they can cover. Umbrella insurance can cover things like libel and slander, but excess insurance covers things like damages and liability.

More questions? Contact McCormick Insurance Inc. of Pembroke Pines, FL today.

Things you need to know about Flood Insurance

Rainfall is a good thing since it keeps the land beautiful, nourished, and healthy which ensures the survival of humanity, plants, and animals. However, like all other good things in life, moderation is always required. Unfortunately, you can’t control mother-nature hence there is no way you can stop rainfall and subsequent flooding.

Recently, there has been numerous storms, hurricanes and excessive rainfall which is the main reason you should re-examine your flood insurance policy. Notably, flooding can be severe, leading to irreparable damages to homes and property. According to McCormick Insurance Inc., Pembroke Pines, FL, these are four things you need to know about flood insurance.

1. Don’t postpone until the last minute before buying flood insurance
Like other insurance policies, flood insurance has a waiting period before you start ripping its benefits. In most instances, the waiting period is 30 days hence the policy should be bought in advance of the storm or hurricane seasons.

2. Don’t over-rely on the homeowner’s policy
The standard homeowner’s policy might cover for damages caused by a busted pipe, but it won’t cover for damages caused by excessive rains or hurricanes. As such, it is imperative to consider a flood insurance policy.

3. Even if you are a tenant, you still need the policy
If there is no requirement for the landlord to have a flood insurance policy, they will most likely not invest in the policy. As such, any water damage to your belongings will not be covered.

4. You should protect your business using this policy
Most offices are stocked with expensive furniture and files, and yours might not be an exception. In case there are floods around your office you can incur a huge financial liability due to water damage. However, with a flood insurance policy, all your liability claims will be covered.

While hurricanes and storms are isolated issues, McCormick Insurance Inc., Pembroke Pines, FL advises you to purchase a flood insurance policy to ensure that you are always prepared.