What is the Right Coverage for a Construction Site?

Determining the appropriate coverage for a construction site is vital in managing risks. It is paramount to analyze the potential risks associated with the construction project. Once the risks have been identified, it is imperative to evaluate the coverage options available and select the one that best suits the project’s needs. As the construction project progresses, contractors should be vigilant and consistently monitor and reassess the coverage to ensure it remains optimal.

The Difference Between Builders Risk Insurance and General Liability Insurance

Builders’ risk insurance is like a sturdy shield designed to safeguard a property during construction. On the other hand, general liability insurance acts as a sentinel, vigilantly protecting against third-party claims of bodily injury or property damage. Comprehending the coverage scope of each insurance type and determining which is the ideal fit for a specific construction project is necessary. For more information and assistance, contact McCormick Insurance Inc. in Pembroke Pines, FL, experts in builders and vacant risk insurance.

Understanding Builders and Vacant Risk Insurance in Pembroke Pines, FL

Secure your financial investments in your construction project with builders and vacant risk insurance. This essential coverage shields your project from potential threats like fire, theft, vandalism, and natural disasters. With builders and vacant risk insurance, you are protected against damage caused by these events but also against any loss or damage to materials and equipment during construction.

Unlock the full potential of your construction project and secure your future investments by contacting McCormick Insurance Inc, which serves the Pembroke Pines, FL area.

Insurance can sometimes get overwhelming with so many terms and types. At McCormick Insurance Inc., serving Pembroke Pines, FL, and the surrounding areas, we are here to help demystify insurance. In this quick guide, we will help you better understand excess insurance and whether or not it is a good choice. 

What Is Excess Insurance?

Each type of insurance policy you can purchase will have a payout limit. This is the amount the insurance company is willing to pay for one single claim event. There are times, though, when the expenses that have been incurred by an event exceed that limit. In that case, the individual is left to pay the remaining amount on their own. 

This can be problematic and cause financial hardship. That is where excess insurance comes in. An excess insurance policy can help pay for these additional expenses. 

How Does Excess Insurance Work?

An individual will purchase an excess insurance policy for a specific amount. The policy can be used if another policy has been exhausted. 

How Much Excess Insurance Do I Need?

The amount a person would need for this type of policy will vary from person to person. You need to sit down with an insurance representative to discuss your details, assets, and liability risks. These factors will help determine precisely how much insurance you need over your other policies. 

Do I Need Excess Insurance?

Not everyone will need this type of insurance. This is why it is a good idea to sit down with an insurance rep to discuss your details. This type of insurance is often recommended for people with many assets to protect or those with higher-than-normal liability risks. 

To learn more, please get in touch with us at McCormick Insurance Inc., serving Pembroke Pines, FL, and the surrounding areas. 

Boat owners need to carry boat insurance if they want to avoid potential expenses. McCormick Insurance Inc. offers boat insurance coverage to those who enjoy watercraft activities in Pembroke Pines, FL. 

The following are three types of boat insurance coverage you need to carry for financial security and stress-free water sports enjoyment. 

Liability coverage

Liability coverage protects you if you are held responsible for any accident damage that results from your boating activity. This type of coverage can cover both property damage and bodily injury costs. 

Many marinas require liability coverage, so it’s an essential type of coverage to carry. 

Boat collision and comprehensive coverage

You can protect the value of your watercraft with boat collision and comprehensive coverage. These types of coverage ensure that your insurance provider will pay for repairs to your watercraft in various situations.

It’s important to realize that collision and comprehensive coverage are separate. Boat collision coverage covers you for boating accident damage. On the other hand, comprehensive coverage covers you if your boat is damaged due to theft or various types of incidents. 

Additional coverage features

Investing in additional coverage types, such as uninsured boater coverage, oil spill cleanup, and towing expense coverage, is very useful. As an adventurous boater, you never know what can happen, so investing in additional coverage features is always a good idea. 

You’ll enjoy financial security on the water if you carry the boat insurance mentioned above. We can help you get coverage in Pembroke Pines, FL at McCormick Insurance Inc. Get in touch today to learn more. 

In the United States, movable or specialized property types are indemnified under inland marine insurance. This type of insurance has a long history, developing from ocean marine insurance. Property covered by this category of insurance includes construction equipment, medical diagnostic equipment, fine arts, solar panels and wind turbines, cameras and movie equipment, musical instruments, and much more.

How does inland marine insurance differ from other property insurance policies?

Inland marine insurance is different from other property insurance policies because it covers movable or specialized property types. This type of policy is designed to protect property not typically covered by other policies, such as construction equipment, medical diagnostic equipment, fine arts, solar panels and wind turbines, cameras and movie equipment, musical instruments, and much more.

Who needs inland marine insurance?

Anyone who owns property that could be damaged or lost should consider purchasing inland marine insurance. The cost of this type of policy varies depending on the size and value of the insured property.

Benefits of having inland marine insurance include protection against damage or loss, coverage for repairs or replacement costs, and reimbursement for expenses incurred while repairing or replacing damaged or lost property.

How do you file a claim?

If you experience a loss or damage to your property, you should file a claim with your insurance company as soon as possible. Be sure to have all the necessary information, including the policy number, description of the lost or damaged items, and receipts for any expenses incurred.

Contact us today!

If you have questions about your inland marine insurance policy, call us at McCormick Insurance Inc. today. We proudly serve the Pembroke Pines, FL area.

When you have insurance for your home and vehicle, you might not have the full coverage you need. Home and auto insurance policies often come with less liability coverage than you really need. Medical and vehicle repair costs have been rising, and you might not have enough liability coverage to keep up with those costs. Contact us at McCormick Insurance Inc. in Pembroke Pines, FL to get umbrella coverage to fill in the gaps.

More Liability Coverage

Having home and auto insurance is vital for protecting your most significant assets. However, a severe accident can wipe out all of your liability coverage and more. After your policy has paid as much as it can, there may still be medical and other bills left over that you have to pay. The best way to protect yourself is to get more liability coverage. However, getting more coverage on your auto and home policies can be prohibitively expensive. A far less expensive option is to get umbrella insurance to add liability coverage to both policies. 

Paying the Overage

The first thing that happens after an accident is that your auto or home policy, whichever is relevant, will come in and pay for the resulting bills of the other party. However, once the policy has paid out its limit, anything else doesn’t have to be paid by you when you have an umbrella policy. When there is an overage left by your home or auto policy’s limit, your umbrella insurance comes in and pays for those leftover bills. This can save you an enormous amount after an expensive accident, and it isn’t costly coverage.

Get Umbrella Insurance

Call us at McCormick Insurance Inc. in Pembroke Pines, FL if you want to be better covered.

Many think their homeowner’s or auto insurance will cover their recreational vehicle (RV) when they take it out on the open road. Unfortunately, this is not always the case. While some homeowner’s policies offer some coverage for RVs, it is usually not enough to fully protect you in an accident or other incident. This is why having a separate policy for your RV is so important. But how much insurance do you need?

The Value of Your RV

The vehicle’s value is one of the most critical factors in determining how much insurance you need for your RV. The more valuable your RV is, the more coverage you will need. You should always insure your RV for at least its replacement value—the amount it would cost to replace it if it were totaled in an accident. Your McCormick Insurance Inc. agent can help determine your RV’s replacement value.

Your Location

Your location in Florida also affects how much insurance you need. If you live in an area with a high risk of heavy hurricane damage or other natural disasters, for example, you will likely need more coverage than someone who lives in an area with a low risk of such events. This is because there is a greater chance that your RV could be damaged or destroyed by a natural disaster if you live in a high-risk area.

How Often You Use Your RV

Another critical factor to consider is how often you use your RV in Pembroke Pines, FL. If you only take it out a few times each year, you may be able to get by with less coverage than someone who uses their RV on a more regular basis. This is because there is less chance that something will happen to your RV when it is not used as often.

Contact McCormick Insurance Inc. to discuss your particular needs and to get a quote for RV insurance.

No one wants to think about their death, let alone the death of a loved one. But if something happens and your loved one does pass away, you want to know that their life insurance policy will cover funeral expenses and other final bills, helping to ease the financial burden at an already difficult time. McCormick Insurance Inc. is here to answer the hard questions.

Unfortunately, some conditions could disqualify your loved one from receiving a life insurance payout. 

Criminal Activity

One of the most common reasons why life insurance payouts are denied is because the policyholder was engaged in criminal activity when they died. 

Natural Causes

Most people expect their life insurance policy to pay out if they die of natural causes. However, that’s not always the case. For instance, if your loved one died directly from failing to take medication for a pre-existing condition, their life insurance company may refuse to issue a payout.

Suicide

It’s also important to be aware that many life insurance policies have clauses that void coverage in the event of suicide. So if your loved one took their own life, their family would not be eligible to receive a death benefit.

Drug and Alcohol Use

Another factor that could impact whether or not you receive a life insurance payout is drug and alcohol use. If your loved one dies under the influence of drugs or alcohol, their life insurance company may refuse to issue a payout. In some cases, policyholders are required to take regular drug tests to keep their coverage active.

Conclusion

If you have questions about life insurance in Pembroke Pines, FL, contact McCormick Insurance Inc., and we will find answers.

If you live in Pembroke Pines, FL, it is essential to know which flood zone you live in. Why? First, if you live in a high-risk flood zone, you need to have an evacuation plan for hurricanes, flash flooding, and other emergencies. Second, if your home is not adequately insured, you could risk losing everything should a flood occur. This blog post will show you how to determine which flood zone you live in.

Determining Your Flood Zone

First, visit the Federal Emergency Management Agency’s (FEMA) website. On the main page, type in your address or a nearby landmark. Once you hit enter, a new page will load with information about your property. Scroll down to the "Flood Hazard Information" section and look for the "Map Number." The number next to "Map Number" is your flood zone designation.

The next step is to visit your insurance agent to ensure that you have adequate coverage should a flood occur. If you do not have insurance or your policy does not cover floods, now is the time to get it. You can also purchase flood insurance through the National Flood Insurance Program (NFIP).

How McCormick Insurance Inc. Can Help

If you live in Pembroke Pines, FL, you should know which flood zone you live in. Remember, it is vital to have adequate insurance coverage if you live in a high-risk flood zone. If you do not have insurance, now is the time to get it. Call McCormick Insurance Inc. today, and we can help you purchase flood insurance through the NFIP or a private company.