Common Myths About Flood Insurance

Flood insurance may be hard to understand. There are many misconceptions and false information about this type of insurance. In order to help you choose the right flood insurance policy, Insurance Shopper VA serving Virginia Beach, VA prepared a list of myths that need to be debunked: 

Myth 1: Standard Home Insurance Covers Flood Damage

Home insurance does cover some types of water damage, but damages caused by floods are not among them. Therefore, if you live a flood-prone zone and you want to make sure that your property is fully protected, you need to purchase separate flood insurance. 

Myth 2: Only Homeowners Can Purchase Home Insurance

To qualify for flood insurance, you do not have to own a single-family home. It is available to renters, who can use flood insurance for the protection of their personal belongings. You can also purchase this type of insurance for your commercial property if you want to protect your company and assets. 

Myth 3: It Is Better To Wait Until The Rainy Season To Buy Flood Insurance

It is better to be proactive when it comes to buying home insurance. That is because, in most cases, you will have to way 30 days before your flood insurance policy goes into effect. Therefore, insurance agents recommend purchasing flood insurance when it is dry and not waiting until the last minute. 

We Are Here To Assist You

If you a renter, business owner, or homeowner from Virginia Beach, VA and you are looking for flood insurance to protect your home, personal belongings, or commercial property but you do not know where to start, Insurance Shopper VA is ready to help you. Feel free to contact our insurance company to discuss the options available and find the policy you really need. 

Do condo owners in Virginia Beach need condo insurance?

In the Virginia Beach, VA area, it continues to be a good idea to own a home. If you are looking for a property that offers a lot of onsite amenities, good security, and other benefits, getting a condo could be a great option. Even if you do purchase a condo, you do have to spend time getting the right insurance for it. There are a variety of reasons that people in this area need to have condo insurance.

Insurance is an Association Requirement

When you are going to purchase a condo in Virginia, you will likely have to sign a variety of documents that acknowledge the rules of the association. Most of the time, a condo association will require that you carry a certain level of insurance. Associations want owners to have this coverage as it offers some valuable protection that helps both you and the other property owners. If you do not have this insurance coverage in place, you could be penalized with a fine or other punishment. 

Lenders Will Require Condo Insurance Coverage

You will also be required to carry condo insurance by your lender. Mortgage lenders will always look out for their collateral and want to ensure that you get proper insurance coverage for your home. When you take out a new condo insurance policy, the lender may want to approve and review it first. It is also increasingly common for lenders to require escrow payments monthly.

Anyone that is going to get a condo insurance policy in the Virginia Beach, VA area should call the Insurance Shopper VA. With Insurance Shopper VA, you will get to learn a lot about how condo insurance will be able to protect you going forward. This could help ensure that you pick the right policy for your situation. 

When should I update my condo insurance

Condo insurance usually renews yearly. Your insurance company sends out a new policy with your renewal and a declaration page. When you get the declaration page look it over and see what it is telling you. It lists the replacement value of your condo, the contents value, and the liability limits. All of these are important figures. They need to make sense of what you know about the value of your home and its contents. Insurance Shopper VA in Virginia Beach, VA is a full-service independent agency that has been in business for more than 20 years. 

When you have a life change

Things change over the years, you may get married, have children, get divorced, or buy a dog. All of these require that you make adjustments to your condo insurance. Adding or removing a spouse from your policy and raising the liability coverage are easy changes. 

Major improvements

When you purchased your condo everything may have been builder grade. Not that there is anything wrong with that but if you have made major upgrades like adding a new kitchen or updated bathrooms or flooring, the value of your condo may have changed significantly. Make sure that your insurance agent knows the upgrades you have made and be prepared to give comparative values of similarly updated units in your complex. 

You purchased expensive items

If you have a beautiful engagement ring or an amazing piece of art,  you should review your content coverage. Checking whether you have replacement cost or actual value is worthwhile as well. 

You added a home security system

Let your insurer know if you have added a home security system. You may be eligible for a discount. 

If you are in the market for condo insurance, Insurance Shopper VA  in Virginia Beach, VA has friendly and knowledgeable agents to help you. Give us a call or stop by the office. 

Why is getting dump truck insurance beneficial?

In the Virginia Beach, VA area, there continues to be a demand for dump trucks. These are used to transport refuse from one area of the city to another or could be used for a variety of other purposes. If you own one of these trucks, it is important that you get dump truck insurance as it could benefit you in several different ways. 

General Liability Coverage

One advantage of dump truck insurance is you will receive general liability coverage. When you operate a dump truck, there is always a chance that you could cause an accident that leads to property damage or an injury. When you have dump truck insurance, you will receive some liability insurance to protect against this risk.

Coverage for Dump Truck

You will also want to get this insurance because it will protect your truck. A dump truck is a very major purchase and piece of equipment. Similar to any other vehicle, there is always a chance it could be damaged in an accident or stolen. When you get dump truck insurance, you are going to receive coverage for your truck.

Cargo Insurance

In some situations, a dump truck will carry cargo for another party. When you get a full dump truck insurance policy, you can receive coverage for this cargo. This could protect you and your clients and will be a selling point when trying to win new business.

Picking a dump truck insurance policy in the Virginia Beach, VA area is a big decision. As you are looking for a new policy here, you should call Insurance Shopper VA. When you do call the team at Insurance Shopper VA you can learn more about your insurance options and get into an appropriate policy that meets your needs.  

Commercial Insurance Requirements in Virginia

When it comes to owning a business there are a litany of rules and regulations that must be followed, but few are as important for both the business owner and their employees than adequate commercial insurance coverage. Specific to Virginia, any business that employs two or more part-time or full-time employees are mandated to have workers’ compensation insurance. Should it be needed, workers’ compensation insurance helps pay for the medical costs associated with an employee’s injury or illness at the workplace or while on the job. If your business is in the construction industry, then even having just one employee requires that you carry workers’ compensation insurance. 

Unlike many other states, Virginia does not require commercial auto insurance for vehicles that are owned by the business; however, you must have minimum car insurance per state regulations. With that said, the majority of personal auto insurance policies exclude business use from being covered so it is strongly recommended that you purchase hired and non-owned insurance if you require your employees to use a personal vehicle for work purposes. 

In addition to the policies outlined above, small business owners may want to consider additional coverage depending on their scope of work. For instance, any business that is susceptible to a cyber-attack or data breach because they store customer data in the cloud or another provider may want to look at cyber liability insurance which helps pay for items such as legal fees, identity protection monitoring service and more. Other optional coverages include the business owner’s policy, general liability, and professional liability insurance.

At Insurance Shopper VA in Virginia Beach, VA our talented team of insurance professionals are ready to assist you in finding the perfect commercial insurance policy. Give us a call today to schedule a no-obligation consultation. 

Will Renter’s Insurance Cover That?

What good is renters insurance?

Turns out, a lot. Renters insurance is an inexpensive safeguard against damages in the residence you are renting. It covers a wide variety of incidents, all sorts of things from water damage to theft. Car break-ins can be covered under the right circumstances. If your residence becomes uninhabitable due to fire or a broken pipe, renters insurance is going to step in and help with unexpected housing costs. Borrow your friends’ record collection and watch as it gets destroyed in the fire? Most plans will have Loss of Use coverage to help with that.  At Insurance Shopper VA, which serves the Virginia Beach, VA area, agents can go over coverage limits and what may and may not be covered.

Does renters insurance cover expensive items?

There are limits on dollar amounts when making claims. Let’s say your house was broken into, and all of your jewelry was stolen. Renters insurance would cover a portion, but if your jewelry is worth tens of thousands of dollars, you probably have it covered separately anyway. If not, you should look into jewelry insurance as well. Basic items like TVs, video game consoles, computers, and other electronics are covered up to a certain amount as well. Check with an agent at Insurance Shopper VA to go over coverage limits and what plans are available for your unique situation.

Should I have renters insurance?

If you rent, renters insurance is a good idea. It will give you peace of mind knowing your belongings are safe and covered in the event of a break-in or a fire. If you’re in the Virginia Beach, VA area, stop by Insurance Shopper VA or give them a call to get set up with the right coverage for you today.

Reasons to Update Your RV Insurance

You probably know that if you remodel or redecorate your home in Virginia Beach, VA, you need to update your insurance. The same is true for your recreational vehicle.

Many people redecorate or remodel their RV to update its look or make it ADA accessible as they age. These changes increase the value of the RV and will not be covered under an existing policy.

While interior design changes are the most common, other upgrades requiring an insurance update include the vehicle’s mechanical equipment such as engine upgrades.

You need to update your coverage because your policy only covers the RV as you purchased it. Without updating, your loss or damage would only cover the current Blue Book value of the vehicle. That can translate to thousands of dollars difference.

How do you know when you need to update? You can always phone Insurance Shopper VA, but here is a quick list of RV upgrades that mean you need to enhance your policy.
–    You install a new floor throughout the RV.
–    You update to smart windows or you have the windows tinted.
–    You update the kitchen appliances.
–    You install solar panels on the roof.
–    You upgrade the bathroom plumbing.
–    You install a more powerful engine.

While you must purchase the state minimum vehicle insurance, these types of updates mean you need to increase the amounts of collision, comprehensive and uninsured motorist coverage you have. If you do not already carry these, you should add them to your policy. Comprehensive coverage requires a deductible. Once you pay the deductible, it pays for the rest of the cost to repair your vehicle when it incurs damage from a named peril such as a fire. Collision coverage also requires a deductible, but once you pay it, the insurance pays for the remainder of the repairs to your RV when it gets damaged in a collision with an object or vehicle, such as a deer or another car or a fence.

Contact Insurance Shopper VA of Virginia Beach, VA to discuss the updates you made to your RV. We can help you determine the new level of coverage you need so your investment remains safe.

How to adequately insure yourself with motorcycle insurance

Regardless of whether you are a road warrior or still an amateur seeking adventure in the vast Virginia Beach, VA roads, you should critically think about motorcycle insurance. Like auto insurance, being in the streets requires some form of protection to protect you and other road users. So, how do you determine how much coverage is adequate for you? The Insurance Shopper VA discusses what you need to know about motorcycle insurance.

What factors affect your insurance premiums?

Whether you use your motorbike during summer or are an all-day motorcycle fanatic, your bike must be adequately insured. However, some factors can affect your insurance premium rates. Insurance companies will enquire about you and your motorbike to help them determine and calculate your insurance rates. The answers you give must be accurate as failure to provide truthful information could result in fines and penalties. Here are some of the significant factors that affect your premium rates.

  • Your age
  • your address
  • How you use your motorcycle
  • The model of the bike
  • Your riding history
  • Modifications

How to buy motorcycle insurance like a pro

Shopping for motorbike insurance is no different from shopping for an auto policy. At Insurance Shopper VA, we recommend checking with various insurance companies and comparing the rates to get the most out of your money. You need to be careful when choosing your coverages so that you don’t end up buying coverages that you don’t need or failing to get essential coverage.

All these are determined by your budget, lifestyle, values, and needs. With that said, there are ways you can save up when shopping for motorbike insurance. Here are a few ways you can go about it:

  • Shop different policies from the same provider
  • Maintain a clean driving record
  • Make use of your deductibles
  • Insure more than one bike with the same insurance company

Are you looking to buy motorcycle insurance soon? Insurance Shopper VA can help you find a package customized just for you. Call or visit our Virginia Beach, VA offices today!

Do ALL Boats Need Insurance?

In Virginia Beach, VA, you are required to register your vessel and take a boat safety training course, but you are not legally required to carry insurance for your boat. However, going without insurance can be very limiting.

The big issue you’re going to run into here: A lot of marinas in VA will not allow you to dock your boat without insurance.

Going out on the water, it’s unlikely that you’re going to run into anything, and if you do, you probably only have your own losses to worry about, so there’s no law stating that you need to carry liability insurance to pilot a boat. But when you’re docking, the risk goes up by quite a bit, so it stands to reason that marina owners will want you to carry insurance so that if there’s a lawsuit, it doesn’t fall on them.

This, of course, only applies to the kind of boats you’re going to be taking to marinas in the first place. If you’re using a small rubber raft to do a little fishing, you don’t really have much to worry about. You’re probably going to dock that on land, deflate it and tuck it into your car trunk. If you can’t lift your boat with your own two hands, then you need to start thinking about insurance.

If you’re looking for insurance in Virginia Beach, VA for your boat, get in touch with Insurance Shopper VA either through their website or by phone. Insurance might not be a legal requirement to pilot a boat in Virginia, but it’s not a bad idea, and it will allow you to dock at any marina that will have you.

How To Make Umbrella Insurance Work For You

We all know we need insurance protection for our home, vehicle,  and even our life. What many people do not know, however, is that home and auto policies can be exhausted before all of the expenses are paid. What do you do then? Luckily there is a solution; an umbrella policy. At Insurance Shopper, VA, serving Virginia Beach, VA, we love to educate our clients and future clients about topics such as this. 

What is Umbrella Insurance?

Umbrella insurance is a type of insurance policy that is designed to kick in if and when your other forms of insurance are exhausted during an accident or liability event. If an insurance policy is exhausted, any money still owed will be your personal responsibility. This can be catastrophic for most people. If you are held liable as the result of an accident involving your car or your home, your entire financial future could be jeopardized. 

Who Needs Umbrella Insurance?

Anyone can benefit from this type of insurance, however, individuals who own substantial assets are more at risk. If you hold substantial assets such as property, investments and savings, then you should consider protecting these assets through an umbrella policy. 

How Much Coverage Do I Need?

The amount of coverage a person needs is very individual to that person. In order to really understand how much coverage you need, you will need to speak with an insurance representative. They can help evaluate your particular situation to make sure you get the policy that is best for you. 

If you would like to learn more about umbrella insurance, please contact our friendly staff at Insurance Shopper VA, serving Virginia Beach, VA.