Minimum Requirements for Your Florida Commercial Auto Insurance Policy

Commercial auto insurance is a requirement if you’re using a vehicle for business-related purposes. Often, the coverage limits for a commercial policy have much higher limits than your personal policy because there’s increased risk for covering commercial vehicles. Unlike a personal policy, which is often separated into categories like personal injury and property damage, a commercial auto insurance policy typically has a combined single limit. The minimum requirements for your policy can vary depending on your business, and if you want specific information, contact Connect America Insurance Agency, which serves Jacksonville, FL.

General Requirements

As most commercial auto insurance policies have a combined single limit, it’s common to see policies ranging from a half-million to multiple millions of dollars. Some smaller companies may be able to get a policy that starts at $100,000, but most businesses will find themselves needing more coverage.

There are some benefits to having your commercial policy under one limit. For example, if you’re responsible for an accident that causes a great deal of property damage and little or no bodily injuries, you can use the entire limit of your policy to pay for the property damages.

Minimum Coverage for Taxi Drivers

According to the Florida Department of Highway Safety and Motor Vehicles, self-employed taxi drivers who have a taxicab as their only vehicle must have bodily injury liability coverage of at least $125,000 for each person, $250,000 per occurrence, and $50,000 for property damage liability coverage.

Other Useful Information

When you’re getting insurance quotes, you may notice that many companies will only permit you to get limits that are higher than the state or federally-mandated limits. While this may seem confusing, it’s because the minimum requirements are often not enough to cover commercial liability. For information that’s tailored to your business, reach out to Connect America Insurance Agency, which serves Jacksonville, FL, today.

Should small business owners invest in cyber liability insurance?

You never think that data breach can happen to you until you are violated. The consequences of such crime can be more significant if you are a small business responsible for handling the pertinent information of your clients. You may find yourself on the receiving end of a lawsuit if you are found at fault of negligence that leads to financial loss for customers who endured identity theft because of a data breach within your company ranks. Such is the reason for Connect America Insurance Agency helping you find the right cyber liability insurance policy in Jacksonville, FL.

Small businesses are at risk
Many entrepreneurs think that they are the least likely to fall victim to identity theft in business because their companies are so small. In actuality, cyber thieves search out small businesses first because of weaker security lines that allow for quicker penetration of the system. 

A thief may not be able to infiltrate the Target security system holding the accounts of various consumers. A criminal may, however, be able to obtain credit card numbers from a “Mom and Pop” shop who purchased their machine independently and pays a third party a monthly subscription fee to use the service. Data breaches cost small business owners an average $86,000 to correct. You stand to pay that full amount from your funds without cyber liability insurance.

What is cyber liability insurance?
A cyber insurance policy helps your company move forward after a data breach by relieving you of some of the economic tension associated with such event. This type of insurance pays customers on your company’s behalf if they suffer financial loss due to identity theft because of information being compromised by your business. 

One of the many benefits of cyber liability insurance is, of course, peace of mind. Another perk is knowing that you are protected from lawsuits related to an unfortunate data breach. 

You should not operate a small business in Jacksonville, FL without general liability insurance. In the same manner, you should not take charge of customers’ pertinent information without having some form of protection in the instance of a data breach. Connect America Insurance Agency can make sure that your small business has everything it needs to thrive in the city. Call us today to figure out what insurance policy is right for your company. 

What You Need To Know About Workers’ Compensation Insurance As A Florida Business Owner

The city of Jacksonville, FL is a part of a broader state region that is business-friendly. Florida has many laws in place to protect business owners from the wiles of employees trying to take advantage of the workers’ compensation system. Here are a few things that you should know about the insurance plan before calling Connect America Insurance Agency for help. 

Workers’ compensation insurance is required if you have employees
You need to purchase workers’ compensation even if you are a home-based business with one assistant. The amount of coverage you must purchase grows with every new worker that you add. 

Your insurance company selects the doctor when incidents occur
An employee who claims an at-work injury must have the severity of his impairment assessed by a medical doctor. The good news is that your indemnity company chooses the physician, which effectively prevents a dishonest worker from receiving more recompense than needed. It is, after all, the doctor’s evaluation that determines the length that a person can claim workers’ compensation. A physician chosen by your insurance company will have your business’ better interest at heart. 

Florida law sets limits on the length of time employees can receive workers’ compensation
The compensation checks stop once the doctor that your insurance company has chosen clears the employee to return to work duties. The good part about workers’ comp in Jacksonville, FL and other parts of the state is that a physician can deem an employee suitable to return to the company and not necessarily the job they were doing when they were injured. You can assign a recovering employee a different task that does not threaten his welfare or quality of work and still be in compliance with state laws.

Workers’ compensation may be required in Florida, but you don’t have to pay through the nose for the assurance plan. Call Connect America Insurance Agency today to see how we can help your company!

Umbrella Insurance – When it rains, it pours!

Umbrella Insurance is simply an alternative name for the line of insurance known as personal liability. Connect America Insurance Agency offers Umbrella policies to cover an insured when their injuries and damages exceed the liability limits of their existing policies. 

To determine if an Umbrella Insurance policy is right for you, assess the risks regarding the specifics of your personal situation, like:

  • Do you own a dog?
  • Does your home have a backyard pool?
  • Do you have teenagers driving your cars?

Then, contact Connect America Insurance Agency, the experts serving the communities in and around Jacksonville, FL.

Next, set aside the time required to inventory all of your assets. This exercise is Well Worth Your Effort!

The next step is to review the amount of liability protection offered to you by your current insurance policies, if there are any.

If the current liability coverage for your home (in and around Jacksonville FL), does not sufficiently cover your total assets (remember, you inventoried them), it signifies that you are in need of additional personal liability coverage.

How much coverage can you afford?

Preliminarily, it is important to note that an abundance of insurance companies require that the applicant have certain minimum liability limits if they offer Umbrella Insurance coverage to you. The limits apply to:

  • Automobile Insurance
  • Homeowner’s Insurance

Finally, compare your current exposure to risk with the Umbrella Liability policies offered within the marketplace.  It is noted that the majority of umbrella policies begin with $1 million. If it appears you will need more liability coverage, inquire about additional coverage.

Potential Mistakes to Avoid When Searching for Umbrella Insurance

  • Overlooking the Fine Print.
  • The premium cost is the only factor considered.
  • Choosing coverage that just meets the value of your assets.

 

Minimum Requirements for Commercial Auto Insurance Policies in the State of Florida

If you’re operating a vehicle for any business-related purpose in the State of Florida, you need to get commercial insurance. It’ll be necessary for any vehicle that’s being used for the following purposes:

  • Picking up and delivering goods (such as materials, newspapers, and food).
  • Delivering messages.
  • Taxi and limousine services.

You will also need to get commercial auto insurance on any vehicle that is titled to any business or corporation, as well as any vehicle that is being rented or leased by another person. You will also need a commercial auto policy for any vehicle that will be equipped with any of the following:

  • Snowboarding equipment.
  • Cooking or catering equipment.
  • Bathrooms.
  • Altered suspensions.
  • Hydraulic lifts.
  • Racing equipment

Regardless of the situation, you will need to a commercial policy on any vehicle that’s being used for business-related purposes, even if it’s being used for personal reasons as well.

Coverage Requirements for Commercial Auto Policies

Most states have the same minimum requirements for commercial vehicles as they do for an automobile that’s being used for personal reasons, but there may be some additional requirements if you’re transporting passengers or any hazardous materials. Be sure to talk to an agent to find out what the laws are for commercial auto insurance in the State of Florida, and Connect America Insurance Agency in Jacksonville, FL can help you get the information you need. Our expert agents will be able to get you an affordable commercial insurance policy that will meet state standards. Be sure to contact us today to find out how we can help you!

Federal Regulations on Commercial Auto Insurance

In addition to the state-required minimums, there are strict federal regulations with regard to commercial auto insurance policies – especially if the vehicle is transporting goods or passengers across state lines. However, the specific regulations will depend on what it is you’re transporting. Any provider of commercial insurance must make regular filings to the Federal Motor Carrier Safety Administration (FMSCA) to prove that your policy complies with certain standards. They act as a “proof of insurance,” and they certify that your policy meets current commercial insurance requirements.

If you have any questions about your current commercial insurance policy or need to purchase coverage for a commercial vehicle, you should get in touch with Connect America Insurance Agency in Jacksonville, FL. We would be happy to help you get the coverage you need, and we’ll make sure it’s a price that you can afford. If you want to more information about getting a quality commercial auto insurance policy, get in touch with us today!

Why Minimum Coverage Isn’t the Best Decision for Car Insurance

It can seem appealing to go with the lowest cost car insurance in Jacksonville, FL in the form of minimum coverage. However, what is saved on a slightly lowered monthly premium charge can end up being paid 10 times as much out of pocket when an accident occurs. Minimum coverage is often obtained either through a high deductible or a capped coverage amount (the dollar figure the insurance provider will pay out for a given claim total). While it may mean the basic legal requirement of car insurance is met, that doesn’t mean it’s enough for an accident. According to Connect America Insurance Agency, bargain hunters often find low coverage plans appealing but then are surprised when an accident occurs, leaving them directly holding the bag for damages the plan will not cover after a certain amount. And the law makes the party responsible accountable financially, whether he or she has an insurance plan or not. By simply choosing a plan with a bit of higher coverage, many of these shortage surprises can be avoided entirely as the claims then fall within the full amount of a coverage allowed. That’s a huge difference from being stuck with the remainder of a bill and no way to pay it. For those in such situations, bankruptcy and losing everything ends up being the only alternative.

Those in the Jacksonville, FL area don’t need to resort to such drastic decisions. Instead, by working with the expert staff at Connect America Insurance Agency consumers can get access to plans that are both robust and affordable for their budget situations. Don’t take chances with insufficient coverage. Get proper insurance protection and avoid setting yourself up for a future financial mess in litigation and collection.

Why Minimum Coverage Isn’t the Best Decision for Car Insurance

It can seem appealing to go with the lowest cost car insurance in Jacksonville, FL in the form of minimum coverage. However, what is saved on a slightly lowered monthly premium charge can end up being paid 10 times as much out of pocket when an accident occurs. Minimum coverage is often obtained either through a high deductible or a capped coverage amount (the dollar figure the insurance provider will pay out for a given claim total). While it may mean the basic legal requirement of car insurance is met, that doesn’t mean it’s enough for an accident. According to Connect America Insurance Agency, bargain hunters often find low coverage plans appealing but then are surprised when an accident occurs, leaving them directly holding the bag for damages the plan will not cover after a certain amount. And the law makes the party responsible accountable financially, whether he or she has an insurance plan or not. By simply choosing a plan with a bit of higher coverage, many of these shortage surprises can be avoided entirely as the claims then fall within the full amount of a coverage allowed. That’s a huge difference from being stuck with the remainder of a bill and no way to pay it. For those in such situations, bankruptcy and losing everything ends up being the only alternative.

Those in the Jacksonville, FL area don’t need to resort to such drastic decisions. Instead, by working with the expert staff at Connect America Insurance Agency consumers can get access to plans that are both robust and affordable for their budget situations. Don’t take chances with insufficient coverage. Get proper insurance protection and avoid setting yourself up for a future financial mess in litigation and collection.

Why Minimum Coverage Isn’t the Best Decision for Car Insurance

It can seem appealing to go with the lowest cost car insurance in Jacksonville, FL in the form of minimum coverage. However, what is saved on a slightly lowered monthly premium charge can end up being paid 10 times as much out of pocket when an accident occurs. Minimum coverage is often obtained either through a high deductible or a capped coverage amount (the dollar figure the insurance provider will pay out for a given claim total). While it may mean the basic legal requirement of car insurance is met, that doesn’t mean it’s enough for an accident. According to Connect America Insurance Agency, bargain hunters often find low coverage plans appealing but then are surprised when an accident occurs, leaving them directly holding the bag for damages the plan will not cover after a certain amount. And the law makes the party responsible accountable financially, whether he or she has an insurance plan or not. By simply choosing a plan with a bit of higher coverage, many of these shortage surprises can be avoided entirely as the claims then fall within the full amount of a coverage allowed. That’s a huge difference from being stuck with the remainder of a bill and no way to pay it. For those in such situations, bankruptcy and losing everything ends up being the only alternative.

Those in the Jacksonville, FL area don’t need to resort to such drastic decisions. Instead, by working with the expert staff at Connect America Insurance Agency consumers can get access to plans that are both robust and affordable for their budget situations. Don’t take chances with insufficient coverage. Get proper insurance protection and avoid setting yourself up for a future financial mess in litigation and collection.

How is Cyber Liability Insurance Beneficial to Your Business?

One of the newest forms of insurance that Connect America Insurance Agency, serving the Jacksonville, FL area, offers is cyber liability insurance. This is an insurance policy that business owners should consider purchasing. If you are a business owner, you may wonder what the benefits are to this type of insurance. Here are a few of the ways that cyber liability insurance can be beneficial to your business. 

What it Protects Against

Cyber liability insurance protects against hackers and bots that can destroy your online business or ruin your reputation. This type of insurance helps protect you in case your system is attacked and infected with ransomware, a hacker steals your customers information or your business identity, the theft of sensitive data or intellectual property, or if you are accused of spam-related crimes because of the actions of someone else. 

How it Can Be Beneficial

All of the above things can impact your business and cause you to lose out on money. If your customer data base is breached, customers may stop shopping with you. If your intellectual property is stolen, you may lose out on money. Cyber liability insurance helps to cover any losses you sustain as the result of actions that someone takes over the Internet. This helps your business to stay afloat during rough times, ensuring your business does not go under as a result of all of this. 

If you are interested in learning more about cyber liability insurance or want to get a quote, contact Connect America Insurance Agency, serving the greater Jacksonville, FL area today. Our agents can help determine what your needs are and put together a policy that offers you the coverage levels you should have. 

Will Your Insurance Repair or Replace Your Vehicle in Florida?

Many people in Jacksonville, FL assume their insurance will repair or even replace their vehicles. Its true insurance can pay for repairs, and in cases of a total loss, it can replace a vehicle. However, this doesn’t occur simply because you have insurance. It requires specific packages and coverage. Connect America Insurance Company has the options you might need. Here’s what you need to know.

Paying for Repairs with Collision and Comprehensive Coverage

In Florida, as with most other places, auto insurance will pay for repairs after a collision, up to the policy limits and after the deductible. This comes from the collision and comprehensive coverage, which is often additional coverage on top of the required liability coverage.

Collision – Covers repairs if your car collides with another object.

Comprehensive – Covers repairs if an object or event damages your car.

Anything beyond your policy limits will have to come out of your pocket. That’s why it’s important to have adequate coverage.

For mechanical repairs or repairs needed for wear and tear, insurance won’t typically pay for the damage. It’s possible to obtain insurance specifically for mechanical repairs. If an accident causes damage that necessitates engine or mechanical repairs, then your collision or comprehensive policy may cover it.

Replacing a Vehicle Due to Damage and Inoperability (Total Loss)

If an accident damages your car beyond repair, only collision or comprehensive coverage in Jacksonville, FL can help you to replace it. When the repair costs exceed the value of the vehicle, it’s a total loss.

Different insurance companies have their own ways of dealing with a total loss. If your policy limits can’t cover a full replacement, the insurance company can offer you a settlement. You can use the funds to help you purchase another vehicle.

There’s more to repair and replacement, but it will all depend on your policy and coverage options. At the Connect America Insurance Agency, we offer a number of coverage options and will help you figure out which ones will work best for you. If you want to know more about how comprehensive and collision coverage works, contact us for more information.