Tag: insurance

What Is the Difference Between Collision and Comprehensive Auto Insurance?

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Collision and comprehensive are two major parts of your auto insurance policy. Many drivers in Central Ohio get confused by these terms and wonder if they need both types. While some owners may choose not to get collision coverage, Insuran LLC recommends that your car policy have both provisions.

What Collision Insurance Covers

Collision coverage is exactly what it sounds like: it pays for damage to your vehicle resulting from a crash, regardless of who was at fault. The most common scenario involves hitting another car, but it can also involve damage from hitting a stationary object, such as a light pole, guardrail, or tree, or due to a rollover. This coverage is beneficial because it helps cover unexpected repair costs to your vehicle, minus a deductible. Some owners drop collision coverage or increase their deductibles when their vehicle reaches a certain age.

How Comprehensive Insurance Differs

Comprehensive coverage also pays for damage to your vehicle, but under different circumstances. The covered risks include events such as theft, vandalism, fire, flood, hail, or objects falling on your auto. Comprehensive also covers you if you hit an animal while driving. Think of comprehensive coverage as events that are beyond your control. As with collision, comprehensive has a deductible. If damage to your vehicle is $1,500 and you have a $500 deductible, it will pay $1,000 for repairs.

Collision and Comprehensive Work Together

Collision and comprehensive coverage, combined with liability coverage, form full auto insurance, as they help protect your vehicle from different types of physical damage. Let’s say you’re caught in a hailstorm, and you swerve out of control, hitting another vehicle. In such an instance, you would incur damage to your vehicle from hail and colliding with another car. You’d need liability coverage to pay for damage to the other person’s car, and collision coverage for damage your car sustained. Finally, comprehensive coverage would respond to the hail damage to your car.

Contact Insuran LLC, serving central Ohio, to get started on a quote. We’ll help you find auto insurance coverage that meets your needs and budget.

Types of Commercial Insurance That Construction Companies Need

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Construction companies operating in Central Ohio need more than general liability and workers’ compensation insurance to operate. While these types of policies are at the core of what is needed, many contractors need specialized policies to operate. Insuran LLC can help you select the appropriate commercial insurance lines for your business.

Commercial Insurance for Construction Companies

In addition to the general liability and workers’ compensation, construction companies should consider several other commercial lines. These include:

  • Commercial property insurance
  • Professional liability insurance
  • Surety bonds
  • Contractor license bonds
  • Builder’s risk insurance
  • Commercial auto insurance
  • Equipment insurance
  • Pollution liability

You can bundle some of these core commercial policies into a business owner’s policy (BOP). A BOP typically contains general liability, commercial property and business interruption protection. You can also include other types of protection, such as cyber insurance, through endorsements. Commercial auto policies, while essential, are usually issued as separate policies.

What is Wrap-Up Coverage?

Wrap-up coverage is similar to a BOP. Construction companies generally purchase it to cover projects worth millions of dollars or a string of smaller projects that add up. You can choose between Owner-Controlled Insurance Programs (OCIPs) and Contractor-Controlled Insurance Programs (CCIPs).

Why Construction Insurance Matters

Commercial policies are a vital safety net to protect those involved in the construction industry, including owners, contractors, tradespeople, developers, engineers and architects, from unexpected events that can occur during a project. Insurance gives you a financial safety net to rebound from losses, achieve longevity in your field, heighten your credibility, and is often required to bid on certain jobs. Selecting the right mix of policies can make a difference in your business’s future.

Let Insuran LLC help you select the right commercial insurance policies for your construction business needs. Contact our Central Ohio office to get started on your customized protection.

Will Your Home Insurance Require You To Make a Home Inventory?

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If you have a home insurance policy, you may be asked to make a home inventory. Knowing what a home inventory is and how it can help you is important. The professionals at Insuran LLC, serving Central Ohio, can help you decide whether a home inventory is a requirement for your home insurance policy. Here’s what you need to know.

What Is a Home Inventory? 

A home inventory is a record of everything you own. Ideally, a home inventory will record the date something was purchased, how much it was purchased for, model numbers, serial numbers, and so on.

Some homeowners keep their home inventory in a spreadsheet, while others use a home inventory app. And others may use home videos to create their inventory. 

Is a Home Inventory Required for Your Home Insurance Policy?

Requirements for home inventories vary from one home insurance policy to the next. If this is a requirement for your home insurance policy, this information will be in the policy. You can also ask your insurance agent. 

Either way, a home inventory is a good record for all homeowners to have. It makes it easier to recover after a disaster. It can be difficult to remember what you own when you’re trying to replace everything that’s been lost. The home inventory simplifies this process. 

How Can You Make A Home Inventory?

Making a home inventory is easy if you have the right software or equipment. Home inventory apps streamline the process. If you want more information about making a home inventory, talk to your agent at Insuran LLC, serving Central Ohio. 

How Auto Insurance Handles Accidents With Uninsured Drivers

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Getting into an accident is stressful enough, but discovering the other driver doesn’t have insurance can make the situation even more complicated. Unfortunately, millions of drivers operate vehicles without proper coverage, leaving responsible drivers vulnerable to significant financial losses. Insuran LLC in Central Ohio helps drivers understand how proper coverage protects them when facing these challenging situations.

Understanding Uninsured Motorist Coverage

When an uninsured driver causes an accident, their lack of coverage doesn’t automatically make you responsible for the damages. However, without the proper protection, you might struggle to recover costs for vehicle repairs, medical expenses, and other losses. Uninsured motorist coverage specifically addresses this gap, providing compensation when the at-fault driver is unable to pay for the damages they caused. This coverage acts as your safety net in these frustrating situations.

Protection Beyond Basic Requirements

Many drivers assume their standard liability coverage handles all accident scenarios, but this only covers damages you cause to others. Comprehensive protection includes both uninsured and underinsured motorist coverage, ensuring you’re protected even when other drivers carry insufficient insurance limits. This additional coverage typically costs very little compared to the financial protection it provides your family.

Filing Claims and Getting Compensation

When dealing with uninsured driver accidents, your insurance company essentially steps into the role the other driver’s insurer should have played. This means faster claim processing and direct communication with your trusted insurance provider rather than dealing with unknown companies or uncooperative drivers. Proper documentation and prompt reporting help ensure smooth claim resolution and maximum compensation.

Secure Your Financial Protection

Don’t leave your family’s financial security to chance when sharing the road with uninsured drivers. Contact Insuran LLC in Central Ohio today to review your coverage and ensure you have adequate protection against uninsured motorist risks.