If you are a condo owner in the Panama City Beach, FL area, you must understand what is covered by your insurance policy and what might be excluded. The agents at Hall Insurance have compiled a list of the most common exclusions in condo insurance policies. 

Condo Coverage Exclusions

Luxury items 

While your policy will cover your personal property, there may be an exclusion or small limits for items considered luxuries such as jewelry, fine art, or electronics. So, checking your policy to see if you have coverage for luxury items is essential. If not, you can often add coverage or take out a separate policy for those items. 

Floods and Earthquakes

A condo insurance policy will not cover claims due to a flood or earthquake. However, with events like floods and earthquakes becoming increasingly common, condo owners should consider taking out separate policies. 

Vacant condo 

If you do not occupy your condo full-time, it is essential to see if your policy covers you when it is vacant. It is common for insurers to exclude coverage if you do not occupy the condo for more than 30 days. So, if you are away from your condo for more than 30 days, please let your carrier know to ensure you have coverage. 

Failure to maintain 

One of the most important things you can do as a condo owner is to ensure you regularly maintain your home’s condition. If you suffer a loss due to failure to keep your condo maintained, your insurance carrier may not provide coverage. For example, if you do not repair an active leak and mold starts to grow, your claim may be denied. 

Any Questions? We Are Here To Help!

If you’d like to learn more about condo insurance coverage, you can contact an expert at Hall Insurance today. We proudly serve the Panama City Beach, FL area. 

Commercial insurance is not mandatory in Panama City Beach, FL except with regard to workers’ compensation which protects individual employees in the event they are sickened or injured at work. For business owners who protect their companies with commercial insurance, a BOP, or business owners policy is what they often opt for. 

Business Owners Policy: The Basics

Entrepreneurs typically run into common perils that befall others in the same industry as them. For this reason, insurance companies will often bundle these indemnifications together conveniently into a BOP. Your Hall Insurance agent can confirm what covered perils are named in your BOP. 

Something as simple as a slippery floor causing a fall can spiral into medical costs and lost wages that can bankrupt a business. This is why a BOP will frequently include such hazards as injuries that occur on your premises that are sustained by a customer. You may also find yourself the target of a lawsuit for such occurrences. 

Your BOP likely contains coverage that will offer payment in the event that your business inventory suffers damage from a variety of causes. This can happen due to fire or windstorms or mechanical malfunction due to power surges. Raw materials may also be affected, causing your income to be endangered. 

Certain dangers may arise due to advertising mistakes in the form of typographical errors or unintentionally misleading statements. Additionally, your products, services, or employees may inadvertently cause property damage to your clients, resulting in the need for financial remedy or repairs. 

Hall Insurance Is Here To Help

Our knowledgeable insurance representatives can help you choose the insurance package that will be most appropriate for you, and we invite you to reach out to us. We service those who live in and around the Panama City Beach, FL area. 

Many people today have online business endeavors they need to protect. Like any other business, an online business needs reliable protection from unique risks. Anyone currently living in the Panama City Beach, Fl area can count on Hall Insurance to help them get the protection they need to prevent losses and risks associated with their online business. 

Considerations for Online Business

You must protect your investments and property if you own an online business. For example, if you operate your business from your home or a separate office, you’ll need to protect that property just as you would a brick-and-mortar location. You also need protection for any equipment you own, including any inventory you store. Many things can happen to an online business, such as fire, theft, or acts of nature. 

Additionally, if you have an online business, you are prone to risks such as hacking and system breaches that expose your company and customers’ personal information. If any customers decide to sue you, having that protection in place is the key to having peace of mind.

Get the Right Insurance for Your Online Business

Each online business is unique and has its insurance requirements and recommended coverage. To find out what those are and get the best all-around protection available, you should speak with one of our top insurance agents who can work with you directly to help you get the best policy. 

Reach out Today

Don’t struggle to find which insurance products are ideal for your online business. Get the hands-on help and education you need to make a great choice. Let our team work with you today to get top-notch coverage you can rely on when you need it most—Call Hall Insurance serving Panama City Beach, FL.