What is the Best Business Insurance?

Posted on by Brad Smith
Finding good business insurance can be a challenge
Better Business Insurance

It depends! Finding the best business insurance for many small businesses can be a challenge. Most small business owners in Kentucky will see that they have multiple options. Generally, competition leads to lower prices for canny consumers. With that said, commercial insurance is not a commodity and finding the best value may take a little effor.

Prices paid for Kentucky business owners’ insurance may range widely. Commercial insurance rates in Georgia and South Carolina are no different. Chances are, the more unique your business is, the tougher it will be to find a great deal on commercial insurance. Ferreting through the long list of products makes it difficult. 

Insurance Options

To find the best commercial insurance for you, start by reviewing your options. Insurance companies do not write insurance in all states. It’s not uncommon to see a company provide great rates to business in one state, but for some small businesses, you will find that they don’t have a lot of options.  Auto dealerships, certain trucking classes, and roofers are good examples. Regardless, it is important to continue your search.  

TruePoint Business insights and solutions. Great insurance starts with improving business awareness.
Knowledge is key to better insurance

Price

Commercial insurance premiums can be a cause of friction.   Would you buy a commercial auto policy if it only provided coverage on Saturday and Sunday?

If you could buy it at 10% of the competitor’s price would you do it?

Of course, you wouldn’t! This ridicules and silly example is used to get a point across. Price is significant! But only after you have determined that the policy is suitable for your business. 

Insurance is not a commodity. TruePoint agents are using transparency and communications to help KY, IN, SC, and GA business owners.
Insurance coverages change from one policy to the next

Coverage

There are many insurance agents, broke, s and carriers that sell on price alone.  Each of them would love for you to believe that insurance is a commodity. Business owners beware. As the business owner or manager, it is your responsibility to make sure any business insurance policy being considered has the coverages that you need.  When comparing multiple policies, make sure that they are on par with each other.  It is the agent’s job to provide a quote that is comparable to your current coverages.  However, it is your business that will bear the brunt.

Great insurance agents don’t sell, they inform and advise. First, they take the steps to understand the prospective business.  And hopefully, an understanding of the risk aversion of the prospect. After generating quotes and putting together a proposal.  The question of price can now be considered.  By interacting with the insured, risk management decisions can be made incorporating both coverage and price information.

Great insurance quotes don’t use deceptive practices to alter the relative value. The following are just a few ways that we’ve seen this attempted in the past:

Commercial insurance for roof blown off, business insurance deductibles in % beware
BEWARE: If your deductible has a % sign and not a $ sign.

• Deductible Changing a deductible from $500 to $1,000 without consulting the client isn’t a smart thing to do. Watching your deductible and other factors, that make up your commercial insurance policy is wise.

By committing to review your insurance policy when quoting and at renewal time you will also avoid some more adverse outcomes. While the dollar-based deductible change is concerning, beware of any deductible expressed as a percentage. Anymore it’s not uncommon to see 1% or 2% deductibles, especially for the wind/hail deductibles. If the deductible were 1% of the loss, there would be no issue. But it’s not; a 1% deductible is based on the policy limit. So if you have an office with a $600,000 value or limit, the deductible is $6,000 at 1%/ $12,000 at 2%.

Assume you have a 2% wind/hail deductible. A windstorm hits that result in $8,000 in damages. At first blush, a 2% deductible on an $8,000 claim is $160??

WRONG!

Your deductible $12, 0000. You pay for all the repairs.

• Read your application.  There are a lot of questions, people make mistakes, and even worse sometimes they assume. By signing the application, you are attesting to the accuracy of the information that is being provided.  Down the road, supplying the insurance company with bad information may muddy things up.

• What does your General Liability say about you? Your Commercial General Liability premium is a result of what and how much you do. You should review both for accuracy. Consider the following. 

You have the opportunity to be an insurance company. Today you can write a General Liability insurance to one business only.  Regardless of your choice, you will receive a premium of $500.  

Need Tree Removal insurance in Kentucky. TruePoint can help! We're also helping tree trees find insurance in Georgia, South Carolina and, Indiana.
Insurance starts with understanding risk

The first company you can insure is in the Tree Removal Business.  They also do lawn-care, snowplowing, and building demolition.  Their current policy indicates that they are in the lawn-care business.  The owner argues that this is correct as 50% of their revenues come from mowing lawns.

Do you need insurance for lawn care business in Kentucky. TruePoint is also working to insure lawn cares businesses in Georgia, South Carolina and Indiana.
We have great lawncare insurance options in KY, GA, SC, and IN

The second company is a Lawn Care Business? They mow lawns.  Period!

Pick one.  Remember, the premium will be the same regardless of your choice.

The point is you need to know what type of business your insurance policy says you are.  What if you’re the first business? 

Do you think he will be covered if a tree falls on a house?

How much?  How much business you do is also important.   Premiums for Commercial General Liability are primarily a function of what you do.  What you do has multiple meanings. For example, the type of work you do, how often you do it, how many people help you, how long you’ve done it and how many losses you’ve had.

What will happen If your application states that you have a payroll of $34,000 when the truth is you have a payroll of $95,000?

Houston we have a problem!

Rocket launch pad, experiencing problems similar things can happen to your commercial insurance

After your policy has been in force for a full year, your insurance company will perform an audit. At this point, they will discover that your payroll is almost three times higher.  What happens? They will send you a bill to offset the difference. Hold on. Things are about to get worse. After plugging your true payroll into their system, you will start receiving significantly higher bills.  One last carpet bomb; you know have a policy that is costing $2,000 more per year than advertised. In hindsight, you now have to question your decision. What appeared to be a $400 savings appears to have cost much more than the policy with all the bells and whistles. Wow!

But this is not the end of the process; it is ongoing.

It doesn’t matter whether you’re trying to buy Georgia commercial insurance or South Carolina. Great insurance is a two way street between the agent and the business owner. Constant communication aimed at awareness and identification of ever-changing exposures. Feedback to this should come in the manner of risk transfer options.  This should include their cost and some form of analysis.  The end result gives the business owner the ability to make an educated decision.

We are Kentucky Business Insurance Specialist. TruePoint will soon be on of the best business insurance solutions in Georgia and South Carolina.
Business Insurance that’s on target. TruePoint Insurance!

There is an answer to what is the best business insurance. Unfortunately, it isn’t as simple as the insurance company or that insurance agent. It is a function of where you live, what you do, and what you need in regards to insurance. The formula should be extended to what insurance companies you can access.  The final factor may be the easiest place to get off track.  It is critical that you find an agent or broker that is knowledge and transparency.

In short, you are the key to determining what the best business insurance for your business is.

TruePoint Insurance Group, LLC

Our Kentucky and Indiana team can be reached at (502) 410-5089

Contact our Georgia and South Carolina commercial insurance team at (912) 330-1265

Frequently asked questions about home insurance

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When you buy a home, it is crucial to keep it protected. One way you can protect your home is by purchasing insurance for it. When searching for home insurance, it is normal to have questions. Here are some common questions and answers to those questions regarding home insurance.

Is home insurance required in Georgia?

Technically, home insurance is not required in the state of Georgia. While the state doesn’t mandate home insurance, most lenders require home insurance to get a mortgage. Even if no one requires home insurance, it is still a good idea to get it.

What is the replacement cost vs. the actual cash value?

The replacement cost is the amount it would cost to rebuild your home completely. The actual cash value is the amount your home is worth when you file a claim.

What types of home insurance coverage are available?

Several types of home insurance coverage are available. You have to check in with your insurance company to ensure you have the proper protection for your needs. Below, we will talk about some of the common types of coverage.

Dwelling coverage

Dwelling coverage protects the inner and outer structure of the house.

Other structures

Other structures coverage refers to other buildings and structures on your property, such as fences, barns, sheds, and detached garages.

Personal belongings

Depending on your coverage, with personal belongings coverage, your insurance will pay to replace your belongings if they get stolen or damaged from a natural disaster or fire.

Loss of use

If your house becomes unlivable, your insurance will pay for your living expenses, such as hotel rooms, food, etc., up to a certain amount or until your house is livable again.

Liability

If someone gets injured or something damages their property, liability insurance takes care of those costs and any legal costs that might occur.

Contact TruePoint Insurance

Here at TruePoint Insurance, we can care for your insurance needs in Savannah, GA. Contact us for a quote.

What Does Flood Insurance Cover?

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If you live in the Savannah, GA area, the agents at TruePoint Insurance want you to know and understand the importance of flood insurance. Some people believe that flood insurance is automatically included in their homeowner’s insurance policies, but that is not the case. A flood insurance policy is created separately from your homeowner’s insurance policy and the National Flood Insurance Program (NFIP).

What Does Flood Insurance Cover?

Flood insurance covers damages to your home that can occur when water enters your home. This can happen anywhere you live, not just in flood-prone areas. With today’s weather, more flooding events are occurring than ever, so it is a great idea to have a flood insurance policy in place.

When it comes to flood insurance, there are two different options you can choose from to include in your particular policy.

You can choose a flood insurance policy that will help cover any damage to the structure of your home and other areas of your home up to a certain dollar amount. This will help you make any necessary repairs to your home after flooding has occurred.

The second option, when it comes to flood insurance, helps you replace all of your personal belongings lost to water damage from a flood. These things can include your personal items, including clothing and toiletries, as well as household items, furniture, and even appliances that you have spent a lot of money on in the past.

Some flood insurance policies will even cover your stay at a hotel or some other location while your home is being repaired after a flood.

What is Not Covered Under Flood Insurance?

Some things are not included in a flood insurance policy. Those things can include the cash that you have at your home, jewelry that is made of certain precious metals, and even stocks and bonds. It is better to keep these types of items in a safety deposit box at another location rather than your home.

While your flood insurance policy will cover your home, garage, and basement areas, other things, such as sidewalks and trees, will not be covered. You can inquire with your trusted flood insurance agent to see if items like hot tubs, septic systems, decks, and swimming pools can be covered under your flood insurance policy.

Contact TruePoint Insurance

To get your flood insurance policy, contact the experienced flood insurance agents at TruePoint Insurance in the Savannah, GA area today!

Uncover the Unexpected Benefits of Life Insurance for Child-Free Couples

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Life insurance is often thought of as something that only benefits married couples with children, but it can also benefit child-free couples. It can provide financial security in case of death or disability and also offer tax benefits. In this article, we at TruePoint Insurance will look at some of the unexpected benefits of life insurance for Savannah, GA couples who don’t have kids.

How Life Insurance Can Cover Final Expenses

Life insurance can be a critical source of funds for those who do not have children to help cover the costs associated with their final expenses. Life insurance proceeds are not subject to probate and can be paid to your designated beneficiary when you pass away. This money can be used to pay for funeral and burial expenses, medical bills, and other outstanding debts.

How Life Insurance Can Help Pay Off Debt

With a life insurance policy, the insured individual can designate beneficiaries who will receive the policy’s death benefit when they die. Beneficiaries do not necessarily have to be children of the insured. This death benefit can be used to pay off any remaining debt, such as credit card debt or student loans.

How Life Insurance Can Enhance Retirement Plans

Life insurance policies can be used as collateral to secure loans, which can be used to fund investments that will help with retirement planning. Ultimately, life insurance can provide financial security for those without children and can be a powerful tool in retirement planning.

TruePoint Insurance of Savannah, GA is dedicated to providing quality life insurance to us. We are committed to providing you with the most comprehensive coverage to help protect the ones you love. Our team is here to answer any questions and provide you with the support you need.

Are You a Business Owner? Make Sure it is Protected with Commercial Insurance

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Are you a business owner in the Savannah, GA area? Does commercial insurance protect your livelihood? If not, TruePoint Insurance can help.

What is commercial insurance? It is a broad type of coverage that provides liability insurance for general business risks. The four most common types of commercial insurance are:

  • Business interruption insurance
  • Commercial general liability insurance
  • Cyber liability insurance
  • Property insurance

While general liability insurance is not required by law, without it, you could face having to pay for all expenses related to a claim against your business. For example, if a client or customer visits your place of business, slips and falls, breaking a hip, without this coverage, you will be responsible for any legal fees and all medical bills. This coverage should be a priority for any business.

General liability insurance is sometimes called commercial liability insurance or small business liability insurance, which provides coverage for your business against any claims made by others for bodily injury or damage to property.

Libel and slander are also covered. Suppose something is said or written by you or an employee, and it damages the reputation of another. In that case, the associated costs of a lawsuit will be covered under a general liability policy.

The cost of general liability coverage will vary based on the size of your business, the type of business you are in, your location, and the amount of coverage you need.

General liability coverage will pay legal fees and any settlement if your business is sued. Advertising injuries, court costs, legal fees, and administration fees will also be covered.

Don’t risk the business you have worked so hard to build. Commercial insurance is a must for any business. Contact TruePoint Insurance today for a no-obligation quote or answers to any questions you may have. You will be glad you did.

Protect Yourself with Car Insurance

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Did you know it is against the law in 48 states to drive without car insurance? Let the professionals at TruePoint Insurance, who serve the Savannah, GA area, provide you with the coverage you need for your car or truck.

Why is car insurance necessary? If you are like most drivers, you think it is not needed. But having car insurance is necessary for any driver.

The three main reasons to have car insurance are to comply with the laws of your state, satisfy lender requirements, and protect your assets. All states require you to take financial responsibility for damage you cause if an accident is your fault.

Auto insurance is required because it provides drivers with payment for damage to their vehicle caused by an accident or other covered perils, such as theft, fire, vandalism, falling objects, or other accidents.

It doesn’t matter what type of vehicle you drive; there is always the chance of a traffic mishap. Accidents frequently happen for several reasons and varying extents, but they always cost money. They can cause severe injury or death. If you are without car insurance, serious trouble can result. Not only will it cost thousands of dollars for medical bills and the damage incurred, but your driver’s license could be revoked, and you could be faced with a hefty fine.

Liability insurance is required by law. It is usually the most expensive, so your insurance provider will be responsible for any damage you cause.

Other coverage is collision, comprehensive, gap coverage, uninsured/underinsured motorist coverage, rental reimbursement, and roadside assistance. These coverages can provide a lot of protection for a small price increase.

Let the insurance professionals at TruePoint Insurance provide you with the coverage you need to protect your vehicle and driving privileges. Contact them today.

Why Add Collision and Comprehensive to Your Policy?

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When you purchase the required auto insurance to fulfill Georgia law, you might consider buying a policy that provides the minimum coverage. In most cases, though, you should insure your vehicle fully through TruePoint Insurance.

Full coverage of your vehicle ensures that your insurance policy protects your vehicle and the other vehicles of the other drivers on the road. The state minimum insurance you obtain to legally drive in Savannah, GA and the rest of the state only protects the other drivers’ vehicles. If you cause an accident, the bodily injury liability component covers the other drivers’ hospital and medical costs, plus that of their passengers. Your property damage component protects the vehicles of the other drivers.’

You only protect your own vehicle by adding collision and comprehensive coverage. This means that your policy covers all the repairs even if you cause a one-vehicle accident, as in, you damage your car, truck, or SUV. That means you’ll only need to pay a small deductible out of pocket for complete repairs instead of shelling out for all the repairs yourself.

Full coverage also protects you from damage caused by animals, such as deer, running out in front of your vehicle and acts of nature. If hail damages your vehicle, your full coverage policy protects your vehicle by paying for repairs. Whether you hit a fence, a wall, or a tree limb falls on your car, comprehensive and collision cover you. It even covers theft.

Contact TruePoint Insurance

Contact TruePoint Insurance serving Savannah, GA, to expand our auto policy to full coverage. Let us help you protect your vehicle and finances. Full coverage auto insurance protects you against all losses.

Four Benefits of Condo Insurance

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Investing in a condo can be exciting. However, as you immerse yourself in the glory of buying a condominium, don’t forget to purchase condo insurance. While you probably contribute to the condo owners association (COA) policy, this only covers damage and liabilities in shared areas. If you want to protect your assets, yourself, and loved ones, please invest in condo insurance.

So, you have purchased condo insurance from TruePoint Insurance. What are the benefits? Here is why condo insurance is worth every penny.

It gives you liability coverage.

Have you or your loved one been accused of inflicting bodily injury? Have you damaged your neighbor’s property? Whatever the case, you don’t have to cover the liability claims from your pocket — condo insurance can come to your rescue.

It covers your personal assets.

If you want to know how valuable your assets are, take a home inventory. You will realize your personal assets carry value, and thus it will be catastrophic to lose them to fire, theft, and other perils. So, invest in condo insurance if you want to protect your personal assets.

It can be customized.

Like home or auto insurance, your condo insurance can be personalized. You don’t have to purchase all the condo insurance policies. You just buy the ones that suit your current needs.

It gives you peace of mind.

Peace of mind is underrated. When you have fewer worries, this manifests in your health and other facets of your life. Condo insurance provides comfort, knowing that what you value most is protected. You don’t have to live on the edge thinking about fires, theft, and other threats.

Do the above benefits appeal to you? If you are in Savannah, GA, please contact TruePoint Insurance for an affordable quote.

Four Benefits of Motorhome Insurance

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Congratulations! You just purchased your motorhome. We can understand the sense of excitement, accomplishment, and fun. But have you thought about motorhome insurance from TruePoint Insurance? Motorhome insurance is an excellent investment to protect your asset, yourself, and your family.

Here are the benefits you accrue when you buy motorhome insurance in Savannah, GA.

Compliance with the law

Your motorhome may act like a home, but the law requires all vehicles, including motorhomes, to have insurance. Failure to comply with this requirement may result in several fines and penalties. But you don’t have to go this route since you can get affordable motorhome insurance from TruePoint Insurance.

Asset protection

Your motorhome didn’t come cheap. That said, losing your high-priced asset to perils like theft, fire, and hail would be a catastrophe. Fortunately, if you have motorhome insurance, your insurer will compensate you if your RV is damaged, stolen, or totaled.

Liability protection

Like your car, you can cause bodily injury or property damage to other people when using your motorhome. If you don’t have liability coverage, you will have to cover the costs from your pocket. The liability coverage of your motorhome covers medical expenses, property repair, and legal fees when sued.

Peace of mind

If you don’t have insurance, living a stress-free life can be challenging. You often think about someone stealing your RV or perils like a fire destroying your vehicle. If you are on the road, you can hardly enjoy your drive because you are scared of the traffic police. You don’t have to live on the edge. Purchase motorhome insurance for a worry-free life.

Purchase motorhome insurance today!

Ready to get started with motorhome insurance in Savannah, GA? Please get in touch with TruePoint Insurance for a no-obligation quote.

Renters Insurance Tips to Keep You And Your Property Safe

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Renters insurance is one of the most important things you can buy to protect yourself and your belongings. Despite this, many renters go without it because they don’t understand its importance or think it’s too expensive. This blog post will discuss some essential renter insurance tips to keep you and your property safe!

Make Sure You Understand What Your Policy Covers

One of the most important things when shopping for renters insurance is to ensure you understand exactly what your policy covers. There are many different coverage options, and choosing the one that best suits your needs is essential.

For example, some policies will cover your belongings in the event of a fire, while others will only cover them if stolen. Make sure you understand these two types of coverage before you make your final decision.

Shop Around for the Best Rates

Just like with any other type of insurance, it’s essential to shop around for the best rates for renters insurance. There are a lot of different insurers out there, and they all have different rates. Don’t just go with the first company you find. Take some time to compare rates from different insurers to ensure you’re getting the best deal from a professional insurer such as TruePoint Insurance. Savannah, GA, is a great place to live, but it’s important to protect yourself and your belongings with renters insurance.

Conclusion

Renters insurance is an essential type of insurance to have, but many renters either don’t understand the importance of it or think that it’s too expensive. In this blog post, we’ve discussed some essential tips to keep in mind when shopping for renters insurance. If you’re a renter in Savannah, GA, contact TruePoint Insurance to get a quote. We can help you find the best policy for your needs and budget.

What Are the Different Types of RV Insurance?

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The different RV insurances depend on the RV covered. Standard RV insurance covers the liability that comes with operating an RV. Trailers are covered with regular insurance, but you require additional coverage if an RV is towing it. You don’t require a driving license to operate motor homes. These self-contained vehicles are covered by regular RV insurance. 

Fifth wheels are self-contained but to operate them, you require a driver’s license. You insure them with regular RV insurance. Winnebagos are covered by standard RV insurance, while motor scooters require a driver’s license and regular auto insurance. For inquiries in Savannah, GA, contact TruePoint Insurance.

Various Forms of RV Insurance 

RV insurances come in various forms, including liability or physical damage, private passenger or commercial, among others. Liability insurance covers any potential damages or injuries to others if your RV is involved in an accident. Physical damage insurance covers your RV against any damages that might happen from normal wear and tear. 

Physical damage coverage includes scheduled and unscheduled. Scheduled physical damage coverage covers your RV against any damages that might happen from normal wear and tear. Un-scheduled physical damage coverage covers your RV against any damages that might happen from something outside of normal wear and tear. 

Commercial RV insurance is for those using their RV for a profit. It covers things like hauling hazardous materials and commercial liability. Other forms include comprehensive, collision, and liability. Comprehensive RV insurance covers things like weather, falling objects, and vandalism. Liability coverage will pay bills if someone is injured on your RV or if your RV causes property damage. 

Final Words 

Most policies also include coverage for medical expenses to cover the cost of any medical care for people injured in an accident on your RV. Most insurance covers have a limit of usually between $300,000 and $500,000. For expert help in Savannah, GA, contact TruePoint Insurance.