Why Florida Residents Should Research Excess Insurance

McCormick Insurance Inc. serves the Pembroke Pines, FL community by offering insurance coverage. We help our clients find policies that will allow them to protect their assets. We proudly serve as an independent agency.

Excess Insurance

Excess Insurance provides a safety net if you are involved in a serious auto accident. The policy covers you in the event that you have a leftover balance when your care is being repaired. While you are on the road traveling around Pembroke Pines, FL, accidents can happen at any moment. If you are involved in a serious accident, excess insurance will cover the damages. Compulsory coverage will protect your vehicle based on the coverage outlined in your policy. Some of the variables associated with compulsory coverage are your driving history, the type of vehicle that you have, and the amount of driving that you do. You can also add voluntary coverage, which also allows you to amend the policy as you would like.

Excess insurance helps supplement your traditional auto insurance policy. You can add lifestyle coverage to protect you while you are traveling to different places. This helps protect you if an emergency happens while you are away from home. Excess insurance helps fill in any gaps.

You can also use the policy to cover you if you are involved in a liability dispute. If you accidentally cause damage to someone’s property, you may have to deal with potentially huge losses. Excess insurance will protect you as you go through the process. You are also protected if a passenger is injured while riding in your vehicle. Excess insurance can help cover their rehabilitation.

McCormick Insurance Inc. Will Help Protect You

Visit our website today to learn more information about excess insurance.

Why should I get builders & vacant risk insurance?

The builder and construction industry is a very important one that ensures that people continue to have properties to live and work in. While there are a lot of opportunities for success in this industry in the Pembroke Pines, FL area, there are risks as well. Fortunately, with proper insurance, these risks can often be mitigated. One type of coverage that people here need to get is builders & vacant risk insurance. Recipients of this coverage can benefit in a few different ways. 

Provides Coverage for Property

An important form of coverage that you will receive with a builders & vacant risk insurance is coverage for the asset that is being built or renovated. A vacant building that is under construction has a variety of risks that are unique to it. This can include an increased risk of vandalism, theft, or damage from a fire. With builders & vacant risk insurance, you will get protection against these risks.

Liability Insurance

Another component of builders & vacant risk insurance that makes it a good investment is liability insurance. If you own and are working on a vacant building, there is always a chance that an accident could occur that causes damage to another property or could even hurt someone. A great way that you can mitigate this is by getting builders & vacant risk insurance, which will give you coverage for this risk.

With builders & vacant risk insurance, a contractor in Pembroke Pines, FL can be protected in several ways. As you are looking for this insurance coverage, you should work with McCormick Insurance Inc. The insurance professionals at McCormick Insurance Inc. understand how important this coverage is. They can work with you to build a policy that offers the right protection for your situation. 

Why Boat Insurance is a Must

Unlike auto insurance, most states with the exception of Utah and Arkansas, do not require that you carry boat insurance on your watercraft. However, with the explosion of water-related activities in the last few years boating is becoming exponentially more popular which is leading to more crowded waterways and an increase in accidents. Let’s face it – boats are not inexpensive and whether you cause an accident or someone else does it is going to be a hefty bill to return your boat to its original state. Consequently, having boat insurance can help protect your valuable investment and favorite livelihood by helping to pay for everything from storm damage to theft to third party accident-related incidents to damage caused by uninsured boaters.

In addition to protecting your boat while in the water, boat insurance can also protect it during the offseason when it is being stored in a marina or another building. Given that these locations are often unmanned in the winter months, there is a greater risk of vandalism and theft but with boat insurance, you’ll be protected. While it may be tempting to believe that your homeowner’s insurance policy will cover your boat, it will likely only offer limited coverage when it is being stored at your home – not on the water or at the marina.

At McCormick Insurance Inc in Pembroke Pines, FL our team of insurance professionals are ready to help you find the perfect boat insurance policy. Not only will we answer all your questions, but we’ll be there to support you from signing the policy to filing a claim. Give us a call today to schedule a no-obligation consultation and learn more about our insurance offerings. 

An In-Depth Look At Inland Marine Insurance

Based in Pembroke Pines, FL, McCormick Insurance Inc. serves the community by offering residents multiple types of insurance coverage. We strive to help our clients find policies that will make their lives easier. As an independent agency, we have established partnerships with several highly rated carriers around Florida.

A Look At Inland Marine Insurance

The chances of severe weather happening at any moment in Florida are relatively high. That’s why inland marine insurance is something that Pembroke Pines, FL residents should consider. Inland marine insurance protects items near waterways if they are damaged. If a natural disaster moves through the area, it can cause serious damage to cargo, telephone lines, and towers. High tides can destroy roads and bridges, resulting in emergency attention. You will be protected if your cargo is damaged as a result of a natural disaster. If you are a business owner, inland marine insurance can prevent you from suffering major losses.

The policy primarily covers items that are being shipped across layers of water. Businesses rely on the shipping process to run smoothly. However, severe weather has the potential to negatively impact the shipping process. That’s why inland marine insurance is important, as it allows you to have a safety net in place if a disaster arises.

Inland marine insurance also covers you if a potential liability issue arises. There are several risks involved while you transport goods. You will be covered if you are held liable for an accident while transporting goods. Inland marine policies are flexible enough to cover different types of items and help you plan for emergency scenarios.

Consult With McCormick Insurance Inc.

Visit our website today to learn more information about inland marine insurance.

Recreation Vehicle Insurance Myths Florida Residents Should Watch Out For

Based in Pembroke Pines, FL, McCormick Insurance Inc. assists the community by providing residents with access to different types of insurance coverage. We are committed to helping our clients find the coverage that they need to deal with the obstacles that life may throw their way.

Recreational Vehicle Insurance Myths To Avoid

Many Pembroke Pines, FL residents have recreational vehicles. If you have a recreational vehicle, it’s important that you protect your asset. Recreational vehicle insurance will protect your vehicle against the threat of inclement weather and other dangers while you are on the road. The policy also covers your vehicle and personal items in case there is a potential theft situation.  While you are researching different policies, avoid some of the common recreational vehicle insurance myths.

I’m Automatically Covered Through My Auto Policy

This is incorrect. The only way to ensure that your recreational vehicle is fully covered is through having a traditional recreational vehicle policy. Having a traditional policy will cover any damages to the interior of your vehicle. You’ll also be covered when you are parking or storing your vehicle.

All Of The Policies Are Similar

This is incorrect, as each recreational vehicle policy differs based on the type of vehicle that you have. Keep in mind that there are different classes of recreational vehicles. Each vehicle comes with different risks, so you will have to weigh your options carefully.

Everything Is Fully Covered

Not necessarily. If you plan to build some accessories to add to your recreational vehicle, you may have to amend your policy to cover the accessories if they are damaged.

McCormick Insurance Inc. Will Guide You Through The Process

Visit our website today to learn more information about recreational vehicle insurance.

Three misconceptions about umbrella insurance to be aware of

One important type of coverage that consumers in Pembroke Pines, FL need to understand is umbrella insurance coverage. At McCormick Insurance Inc.we offer umbrella insurance coverage.

The following are three common misconceptions about umbrella insurance that consumers need to be aware of.

Umbrella insurance only enhances auto and home insurance policies.

Umbrella insurance policies are most commonly associated with auto and home insurance policies. Umbrella insurance coverage covers the costs of liability issues when they go over the policy maximums of auto and home insurance policies.

However, auto and home insurance policies aren’t the only types of insurance that umbrella insurance adds coverage for. Umbrella insurance also provides added coverage for those who hold boat insurance, recreational insurance, and numerous other types of insurance. 

Consumers with umbrella insurance rarely end up using this type of insurance coverage.

You’d be surprised at how often policyholders with umbrella insurance coverage end up filing a claim on this type of policy. Expensive lawsuits are probably more common than you think.

You shouldn’t underestimate the probability that you will face a costly lawsuit that’s too expensive for your home or auto insurance policy to cover. 

Only high net worth individuals benefit from umbrella insurance.

You don’t need to be a millionaire to benefit from umbrella insurance coverage. In fact, you can benefit from this type of coverage regardless of how much money you make or how much money you’re worth. 

Without umbrella insurance coverage, you put everything you own at risk. That’s why umbrella insurance coverage is important not only for the super wealthy, but also for consumers with an average net worth. 

Are you shopping for umbrella insurance in Pembroke Pines, FL? We can help you in your search for an appropriate policy at McCormick Insurance Inc. Contact us to inquire about our policy offerings. 

How Does Flood Insurance Really Work?

Living in Pembroke Pines, FL, there’s an unpleasant issue that comes up every year. The region is at risk of getting hit by hurricanes. It’s something Floridians have learned to endure, but as a homeowner, you need to understand flood risks and flood insurance. It’s a special type of insurance, and it’s a bit strange compared to a standard homeowner’s policy. To help you, McCormick Insurance Inc. has this easy breakdown of flood insurance and how it works.

Coverage

As always, the specific coverage of any policy will vary. These are generalizations that may not apply to your individual policy. That said, flood insurance is generally designed to cover three things: structural damage, cleaning, and lost belongings. That said, most policies do not cover all three. Instead, flood insurance is usually split into policies for the home and policies for personal belongings.

To clarify, flood insurance is designed to cover water damage that comes from a flood that affects two or more acres of land. This does not apply to a broken pipe in the house, but it definitely applies to hurricane-related flooding. Between the two types of coverage, you can have the house and valuables within properly protected.

Finding a Policy

Flood insurance policies are largely structured around specially designated flood zones. FEMA marks the designations. If you live in one of their flood zones, you may be required to have flood insurance for your home. If you aren’t in the zone, the policies will differ and in some cases, it may be difficult to get coverage at all.

The best way to check your flood zones and coverage options for your home in Pembroke Pines, FL, is to talk to a representative. McCormick Insurance Inc. agents can go over the zoning, help you analyze your personal risk, and look at policies that are appropriate for your home.

Investing with a Life Insurance Policy with a Cash Value Account

Life insurance functions as a financial planning tool for retirement as well as protection for one’s family in the event of the insured’s death. A life policy with a cash value account lets Pembroke Pines, FL residents save for the future while providing for your beneficiaries in death.

Many people only know of life insurance as a tool for providing for their funeral costs and a death benefit for their spouse and/or offspring. McCormick Insurance Inc. wants you to know that life insurance also provides a method of wealth building as well so long as you choose a policy with a cash-value account.

These accounts provide the typical death benefit of a life insurance policy, but also have a savings account attached. These accounts either link to a money market account or an investment account that earns in relation to a stock index such as the S&P.

While they once only served the high-income set, the insurance industry has developed products for those with average incomes as well. These policies start with a death benefit of about $70,000 and allow the policy owner to build an account that lets them avoid paying taxes on the savings as well. Similar to contributing pre-tax benefits to an IRA, the money going into the cash value account comes from the premium payment and into a savings account managed by the life insurance company.

This method of financial planning lets the policy owner provide protection to their family or another beneficiary while also building wealth tax-free. The money does incur taxes, but typically at the standard rate if the policy owner withdraws it for use while living. This occurs also if the individual uses it as collateral for a loan.

These accounts can help Pembroke Pines, FL residents save for their future while protecting the financial future of their families as well. Contact McCormick Insurance Inc. today to learn about your life insurance options.

Riders you may want to add to your Florida home

Florida is one of the most popular places to call home. Choosing your home insurance is an important part of the homeowning process. Having an agent you are comfortable with and trust is important.  McCormick Insurance Inc. in Pembroke Pines, FL is an agency you can count on and the entire team will work to make sure you have the best coverage at an affordable price. 

A basic home insurance policy has limitations. Talking to your insurance agent about what is not covered under your policy is important. Just because your policy has limitations, doesn’t mean you can’t be covered for some additional things. You can add a rider to your policy to cover something your policy excludes or has coverage limits which are too low for you. 

Sink Holes

Moving earth is something that homeowners insurance excludes. In Florida especially, sinkholes can be a serious issue. Adding this important coverage to your home policy is an excellent idea. 

Hurricane coverage

Florida is prone to hurricanes and not all home policies have hurricane coverage. With the potential for several hitting the state on any given year, being protected against hurricane damage will give you much-needed peace of mind. 

Flooding

Floods and flood damage are not typically covered on home insurance. You can get an additional policy to cover flooding but some companies are now also offering flood coverage as a rider. Check with your insurance agent to decide which options work best for you. 

Jewelry rider

Most home policies have a very limited amount of coverage for jewelry. If you have a good-sized engagement ring, you may have already exceeded your policy limit. Make sure you have appraisals on your expensive pieces and then get a ride to cover the amount you need. 

These are just a few of the riders you can add to your basic home policy. Give McCormick Insurance Inc. in Pembroke Pines, FL a call to set up an appointment to make sure you have all the home coverage you need for your Florida home. 

How to Protect Your Car from Dents

You already know that you can’t be near your car at all times. From parking lots to street spots, you have to leave your car unprotected on a regular basis. Most of the time, nothing will come of this. You don’t necessarily expect a runaway shopping cart to hit your car and dent it every time you pull into the grocery store. But sometimes, dents happen, and it’s all too easy to have no recourse when they do. If you’re in Pembroke Pines, FL, McCormick Insurance Inc. has a few tips to help you keep your car safe. 

Make the Extra Effort 

Valet parking, car covers, remote spaces: these are all just a few suggestions that can help you keep your car protected in Pembroke Pines, FL. The extra expense of parking your car in a lot might dwarf the expense of having to deal with a dent. And even if it’s a bit of an extra walk, parking in a less crowded section of the lot can go a long way toward avoiding an accident. 

Get a Camera 

Camera technology today is inexpensive and effective. Even if the other driver doesn’t happen to leave a note with their insurance information, you might be able to see their license plate number if you have the right device set up. 

Look Into Better Panels 

Dent-resistant panels are an excellent solution for nearly any car. Some are already manufactured this way, but you can also look into getting an after-market product for even better odds. 

McCormick Insurance Inc. knows that protecting your car takes effort. If you have questions about how the right insurance policy can help you in the case of dents, give us a call to learn more about how our policies are designed to put you in the driver’s seat.