Thursday, May 11, 2017

Loss Assessment Coverage for Condos: Do you have what you need?

Hi this is Sean Ryan with BRP Ryan Insurance.

Today I want to talk to you about loss assessment coverage for condos/condo insurance.

Hurricane Matthew happened October 7, 2016, and the east coast of Florida took it really hard.
There were areas in Volusia County, which affects us, and areas all the way up to Jacksonville that got hit pretty hard.

If you have a condo unit owner policy, I want you to talk to me. I want you to call our office. I want you to be aware that there are differences in these policies when it comes to loss assessment coverage.

Most of the master policies – the master policies of the condos that got hit with the storm – took big hits on their deductibles, and then what they’re going to do with that deductible is spread it out as loss assessment to all the unit owners.

On your policy, on your individual policy, you need to look at that coverage, because each company offers different limits. You need to shop for it; you need to pay attention to that because some companies offer $1,000 and some offer $10,000. Which one do you have?

Call our agents, call our office at 386-738-2000. We’d be happy to help you with that. So that you’re prepared for the next storm. It’s not if, it’s when. It’s going to happen again, so make sure that you’re prepared, and we’ll help you with that. 

Monday, March 27, 2017

The Why and How of Commercial Auto Insurance

At Ryan Insurance, we shop around for the best rates from reputable carriers and can help you get the ideal coverage at the ideal rate, including on your commercial autos. And, we always customize policies for client needs.

Lately we've been getting some amazing commercial insurance rates. So, no matter if you already have commercial auto insurance for your company or are wondering if you need to get such a policy for your business, you'll want to read on...

Do you need commercial auto? Wondering under what circumstances commercial auto insurance is required or how it differs from personal auto insurance? Let us shed some light on commercial coverage, its limits, and how you can get the most bang for your buck on commercial auto insurance.

Commercial auto insurance can cover a combination of vehicle types and drivers, as well as some types of motorized equipment. But, is it necessary for your business? If it is, are there ways to reduce the cost of the insurance, or formulas for streamlining the coverage so it's most effective?

Commercial auto insurance provides for bodily injury liability and property damage while operating a company vehicle, and offers medical payments for personal injury protection for the driver and passengers of the policyholder's vehicle.

Most states, including Florida, have minimums for what commercial auto insurance must cover; it's the same minimum insurance requirements that apply to passenger cars.

If a vehicle is used consistently by you (the business owner) or employees, you need commercial auto insurance. Let's say you're driving your car for business purposes when you have an incident, and you need to file the claim. You may find that a personal auto insurance policy will not pay the claim, though a commercial policy would.

How do personal auto and commercial auto insurance differ? Though they require the same basic coverage, insurance companies view commercial auto and private auto policies as very different things. Why? Because businesses typically face more risks in the daily operation of vehicles than private policyholder's do. Additional requirements apply for vehicles that are used commercially for several activities, such as transporting passengers (such as taxis or limos) or transporting hazardous materials.

There's one significant difference between commercial auto insurance and personal auto insurance limits: a commercial auto policy offers a combined single limit, as opposed to personal auto insurance's breakdown of limits into categories like "property damage" and "personal injury."

Within the umbrella of commercial insurance there are different types of coverages as well. These include business auto insurance, truck insurance, pickup truck insurance, cargo insurance, tow truck insurance, van insurance, dump truck insurance, and non-owned/hired liability insurance. Rates vary depending upon how the vehicles are used and the nature of your business.


Call us at Ryan Insurance at 386-738-2000 and let us shop around for the best rate on commercial auto coverage. You'll always get excellent customer service, and we'll find you competitive rates that reflect your good business sense, too.