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.

Who needs to get a motorcycle insurance policy?

When you live in the Pembroke Pines, FL area and are looking for a new mode of transportation, you should consider getting a motorcycle. A motorcycle can be a very efficient mode of transportation that can also be fun to operate during the warm sunny days that this area of Florida offers to residents and visitors. As you are looking for a new motorcycle, you should also consider your insurance needs. There are several scenarios when someone here will need to get a full motorcycle insurance policy.

When Using on Public Roads

The reason that most people need to get a motorcycle insurance policy is that it is required to have if you want to use the motorcycle on public roads. Anyone that is going to operate a motorcycle, or any other vehicle, needs to comply with the state’s minimum liability insurance requirements. If you do not have this coverage, you will be in violation of the law whenever you are riding it. 

When Financing the Motorcycle

You will also need a motorcycle insurance policy if you are going to finance the purchase of it. Any motorcycle loan provider is going to have requirements that set forth the type and level of insurance coverage that you need to have. It is important to understand these requirements and to comply with them. 

Almost anyone that owns a motorcycle will need to get insurance for it. When you are looking for a new motorcycle insurance policy, you should reach out to the team at McCormick Insurance Inc. The insurance team at McCormick Insurance Inc. has helped people all over the Pembroke Pines, FL area build and choose their own motorcycle insurance policies. This will provide you with comfort that you and your motorcycle are properly covered at all times. 

What does inland marine insurance cover?

The shipping and transportation industry is incredibly important as it helps to ensure that people all over the world have access to products that they need. Transportation, shipping, and other logistics companies do take on a lot of risk due to the storage and transportation of products. For those that are in this industry in the Pembroke Pines, FL area, getting an inland marine insurance policy could be a great option as it will cover a company in a number of ways. 

Cargo Insurance Coverage

One of the advantages of an inland marine insurance policy is that it can provide you with protection for your cargo. Any company that will be transporting and storing cargo is taking on some responsibility for it. Since there is always a risk that it could be damaged or stolen, it is important that you receive coverage to ensure you can repair or replace the cargo. With an inland marine insurance policy, you will receive the coverage you need to offset this risk. 

Protection for Liability

Those that are in the shipping and transportation industry will also have some liability risk. There is always a chance that you could cause an accident or be otherwise negligent. When you get an inland marine insurance policy, you are going to have the coverage you need to cover any damages you cause. 

Getting inland marine insurance is clearly very important. When you are looking to get this insurance coverage, you should call the team at McCormick Insurance Inc. The insurance professionals at McCormick Insurance Inc. have helped people all over the Pembroke Pines, FL area understand their needs and options when it comes to inland marine insurance. They can then help anyone to get into a policy that will offer the right coverage to meet their needs.