Policy changes to look at when you add a teen driver

Are you the parent of a new teenage driver? If you are in the greater Fort Lauderdale, FL area and have questions about your policy now that you are ready to add them to your policy, the team at Coastal Wealth Insurance LLC is here to help. Getting their driver’s license is an exciting time for your child, and perhaps a worrying time for you! Even though you can’t always be with them when they are out driving, knowing that your family has the right auto policy in place can help to ease your mind. 

Is it time to update your policy when a new teen driver is added?

Unfortunately, teen drivers are often involved in accidents and fender benders than their adult counterparts. Because of their lack of maturity, their driving skills may take a bit more time to develop. When you have a new teen driver in your family, it makes sense to sit down with your local insurance agent to review your current policy. While your auto policy may be a good fit for the adult drivers in your family, now that you have a younger driver you may want to make some changes. It’s always better to be safe than sorry when it comes to insurance, and while it’s something that we never want to have to use, it’s always good to have it!

New teenage drivers don’t yet have the experience and skill to navigate the roads safely all the time. If your teenager is getting ready to drive in the greater Fort Lauderdale, FL area, make sure you have the coverage you need. Call or stop by Coastal Wealth Insurance LLC today to find out more about available policy options for teen drivers.

If You Live in Florida it is Time for a Home Insurance Review

The recent challenges for Floridians dealing with severe weather are likely to continue to increase due to the impact of climate change. Homes in Ft. Lauderdale are at risk of damage caused by extreme heat, freezing, hail storms, hurricanes, storm surge, and a myriad of new challenges caused by inclement weather.

If you have not spoken with your agent at Coastal Wealth Insurance LLC, serving the Fort Lauderdale, FL area, to make sure your home insurance is adequate, now is a good time to do this.

Your agent will look for insurance gaps, check the valuations used to calculate policy limits, and make suggestions about things to consider, to improve insurance protection.

Insurance Gaps

Gaps in insurance are things that it would be a good idea to have protection for that may not be adequately covered by existing home insurance. Flooding is a common problem and not usually found in the typical home insurance policy. It has its own separately policy. Hail damage is another thing to check. Damage from high winds is different from damage from a storm surge caused by high winds. Your agent will help you understand the details.

Be sure to discuss with your agent the insurance protection for the personal property that you have as well. If you own many valuable things, you may want to itemize them for special protection.

Replacement Cost

It is important to evaluate the home insurance policy limit. An adjustment may be needed. Usually, the limit is based on either the market value of the home and/or the replacement cost of rebuilding the home if it is damaged by a covered peril.

Home values may change over time if the market goes up or down. Construction costs also change. To make a recommendation, your agent will make a calculation based on the current home value and local construction costs to see if the insurance protection is adequate.

Get an insurance review and a home insurance quote by calling 954-331-5046 to speak with your agent at Coastal Wealth Insurance LLC in Fort Lauderdale, FL or use the convenient online form.

Is Commercial Insurance in Florida Needed for Home Based Business?

If you have a home-based business in Fort Lauderdale, FL, you may want to look into an insurance policy regarding your business. Several options exist for business owners depending on the type of business that they are running from their home. Coastal Wealth Insurance LLC can help guide you to the appropriate insurance for the business that you own. 

It is not unusual for businesses to be based from home. In fact, the U.S. Small Business Administration estimates that 50% of small businesses are located from the business owner’s home. 

Things to Consider if You Operate Your Business from Home

If you provide any type of services directly to customers in your home, you may require liability coverage. Good examples of this would be tax preparations, hair services, or counseling. 

If you have over $5,000 worth of business property located in your home, you may want to consider a home-based business. 

These are just a few examples. The main point is that understanding your business liabilities is important. During hours of operation, you cannot simply depend on your homeowner’s insurance to cover business-related incidents. 

Types of Insurance to Consider for a Home Based Business

  • Workers Compensation Coverage – If you have employees, the state requires workers compensation coverage. You are responsible for the safety of your employees while on the job. This policy will limit your company’s exposure to potential financial devastation. 

  • General Liability Insurance – If you have a guest in your home during business hours, your homeowner’s policy won’t cover any injuries that may occur. This type of policy will cover visitors during business hours. 

  • Commercial Property Insurance – This will protect your business property inside of your home if you are burglarized or have damage to business property. Homeowner’s insurance will not cover these damages. 

  • Professional Liability – This type of insurance will protect you from individuals working in your industry. Known risks exist for every business, but this will ensure that errors or omissions are protected. 

Call Coastal Wealth Insurance LLC in Fort Lauderdale, FL Today

Coastal Wealth Insurance LLC in Fort Lauderdale, FL has extensive business policies for home-based businesses. It’s important to know what is the right protection for you. Give us a call  at 800.320.4180, and we will guide you through the process.

 

3 Tips To Consider When Shopping For Your Teen’s Car Insurance

Shopping for your kid’s first car insurance can be nerve-wracking, as is their transition into the freedom that comes with driving. When you choose your teen’s auto insurance from Coastal Wealth Insurance LLC, here are a few tips to consider before signing on the dotted line.

1. Add Them To Your Car Insurance

If you choose a separate auto insurance policy for your teen in Fort Lauderdale, FL, it’s guaranteed that the coverage will cost you an arm and a leg.

A teenage driver is considered a major risk for car insurance providers everywhere, and they have to instate their own form of insurance to counteract that risk. this comes in the form of high premiums and limited coverage.

A sound option is to add your teen driver to your own auto coverage. Your solid reputation as a driver coupled with your willingness to assume responsibility for your child’s driving is insurance enough to lower the rates a bit.

2. Get Your Teen A Used Car

Of course, every teen driver wants to drive a flashy, brand-new car. However, make the wise choice to hand them down a spare car from within the family, or buy them a safe, reliable used vehicle.

Brand new cars depreciate quickly. In fact, they depreciate to half of their retail worth as soon as they are driven off of the dealership lot. this is common knowledge that auto insurers are well aware of, and they rate new cars accordingly.

Purchasing a used car means that it won’t depreciate as quickly. also, if your child does have an accident, the car insurance provider has less to reimburse than if the accident happened in a brand new car. This causes the rates to be lower all around.

3. Send Your Teen To Driving School

It’s great when you bond with your child over a family driving lesson. You can still keep teaching your child how to drive. However, for better auto insurance coverage at a more reasonable rate, consider enrolling him or her in an accredited driving school.

This is more of a formality than anything else; if your child completes driving school, he or she will have the paperwork to prove their competency. Your insurance provider will consider this proof of competent driving as a decreased risk. Therefore, even if it’s a teen driver who is to be covered, he or she is knowledgeable about driving responsibilities on paper. This allows the provider to lower your overall premium rate.

Are You Ready To Buy Coverage For Your New Teen Driver?

It’s hard to let your teen go out on the road alone. However, if your teen has adequate insurance coverage, he or she will be taken care of as a driver no matter the circumstances. Contact one of our understanding agents at Coastal Wealth Insurance LLC today to discuss coverage for your teen. Visit us in our Fort Lauderdale, FL to get a quote and find the policy that works for your family.

What Sort of Disasters Are Covered Under Renters Insurance?

Fort Lauderdale, FL residents are not required by law to purchase a renters insurance policy, but many are compelled to do so by their landlords. It is commonly thought that landlords are responsible for property damage, but this only extends to the walls and permanent fixtures in the structure. Their insurance likely does not apply to your items, and this is where renters insurance comes in. 

What Disasters are Covered?

Policies can vary, but overall, they will tend to cover broken items from hailstorms, and they will provide indemnification if your unit should be affected due to a fire. Smoke can also create staining on carpets and curtains and can ruin clothing, all of which should be safeguarded through your insurance. 

Damages due to rain and subsequent leaking are generally included, though issues pertaining to flooding is usually excluded. Renters would need to purchase a flood insurance plan from FEMA as provided through your insurance provider. Overflowing water, for example, from a washing machine that destroys your possessions is often covered, though it does have to be accidental. 

Windstorms can also fall under your policy plan, however, issues pertaining to earthquakes will generally be covered separately under their own plan. Your policy may protect against broken windows and vandalism, and renters personal liability protection can pay for expenses related to falls or other injuries inflicted accidentally on guests in your home. This can extend to lost wages while recovering and to costs incurred if your pet should bite someone. 

Let Coastal Wealth Insurance LLC Be of Assistance to You

Coastal Wealth Insurance LLC serves the Fort Lauderdale FL area and would be happy to answer any questions you may have about renters insurance. We encourage you to reach out to us today. 

Let’s Get Hitched: Does My Motor Home Insurance Cover The Vehicles That Are Hitched To My Motor Home?

To answer the titular question accurately it is imperative that you speak with an insurance agent. Your motor vehicle is not automatically insured while it is hitched to your motor home. An agent can add certain circumstances of liability to your recreational vehicle policy as it concerns your motor vehicle. Your concerns about what may happen to your car as you travel with it hitched to your motor home comes into play. Consider the value of the motor vehicle, what level of auto insurance is currently on the motor vehicle through your separate auto insurance policy and to what extent will be you be hitching your vehicle to your motor home (is this a cross-country trip, are you planning to travel locally with your vehicle attached to your motor home on a frequent basis?). Think your plans through thoroughly with your family.    

Enjoying the beautiful weather of Fort Lauderdale FL is always more scenic in a motor home. Our name – Coastal Wealth Insurance LLC is our statement of pride in the region we serve. Fort Lauderdale, FL is a treasure trove of beauty for everyone and especially those who love the outdoors. We are wealthy indeed with the lushness of this area and also with knowledge about the products we serve our customers with. Come in today to further explore what your insurance needs are and how we can best meet them satisfactorily. Coastal Wealth Insurance LLC is located at 2400 E. Commercial Blvd. 11th Floor Fort Lauderdale, FL 33308. Our telephone number for direct contact is 954-331-5046. We also provide insurance products for the following parts of your life:

  • auto
  • home
  • commercial
  • flood
  • condo
  • umbrella
  • classic car
  • renters
  • boat / watercraft 

  

Dealing With Ice Damage Using Home Insurance

Though Fort Lauderdale, FL doesn’t typically get very cold winter weather, ice storms do happen from time to time. When this happens, your home will be affected in a multitude of ways. So please let us at Coastal Wealth Insurance LLC help you better understand your coverage options.

Some Types of Ice Damage are Not Covered

Though home insurance typically covers many issues, there are some instances of ice damage that it may not cover. For example, Florida homeowners who don’t properly manage an ice dam on their roof may find their policy unwilling to pay.

Simply put, these issues are classified as negligence by the insurance company. This fact is true even though Florida homeowners may have never experienced an ice dam in their lives. Thankfully, not all ice damage is negated by the negligence rule.

What Ice Damage is Covered

Though some types of ice damage are not covered by home insurance, many are covered. For example, a surprise ice storm in the middle of an otherwise mild Florida winter could cause a multitude of problems, including damage to electrical lines, issues with siding, and much more.

In fact, homeowners in Florida may need this type of coverage more than they think because they likely don’t have the skill and knowledge necessary to prevent this kind of damage. And negligence – an issue that can plague many claims for ice damage – could negate your claim and make your repair bill even bigger.

Find Protection for Your Home

So if you are worried about occasional ice damage unexpectedly affecting your Fort Lauderdale, FL home, please contact us at Coastal Wealth Insurance LLC to learn more about your home insurance options. Our experts will work hard to ensure that you get the policy that you need.

How to Avoid Overpaying on Auto Insurance Costs

If the rising cost of auto insurance is troubling you, take heart. There are ways to avoid overpaying for your coverage. The following tips can help you get quality auto insurance coverage at a cost you can afford.

Shop Around

Insurance is a competitive business which gives consumers an advantage in finding affordable prices. By shopping around, you can get a good idea of what auto insurance companies in the Ft. Lauderdale area has to offer. Compare services, coverage, and prices to see what deals you can come up with. Your goal should be to get quality coverage a good price.

Customize Policy

Customizing your auto insurance policy lets you choose the essential coverage you need without paying for fluff. This helps reduce insurance costs. When customizing a policy, make sure you have adequate coverage to protect you and your vehicle.  Compromising coverage for price defeats the purpose of getting insurance at all.  

Look for Discounts

See if you qualify for a discount on your policy. If you’re a senior, student, active military or safe driver, you may qualify for reduced rates on your insurance coverage. You may also be eligible for reduced insurance rates if you’re retired, have passed a driver’s ed course, have a good credit rating or drive a vehicle with multiple safety features. At Coastal Wealth Insurance LLC, we can help you determine what discounts you’re eligible for so you can take advantage of these offers. 

Bundle Policies

Bundling two auto insurance policies together can help save you money on your insurance. If you own a home in Fort Lauderdale, FL, you can bundle your home and auto to get reduced insurance prices.

To learn more about auto insurance options at affordable prices, contact Coastal Wealth Insurance LLC in Fort Lauderdale, FL.   

Ways to Make Your Property Safer

Your homeowner’s insurance policy is designed to protect your financial interests. This includes accidental injury that occurs on your Fort Lauderdale, FL property. However, there are some simple ways for you to reduce the likelihood of injuries and accidents on your residential property. Use these tips from Coastal Wealth Insurance LLC to keep your visitors and family members safe when they’re at your home.

  • Childproof your home. Even if you don’t have children, things like outlet covers, cabinet locks, and security devices for corded blinds reduce the chance of visitors of all ages from inadvertently hurting themselves.
  • Do periodic visual inspections of the grounds surrounding your home. Note damages like cracked pavement, deep holes or gouges in the landscaping, or building materials that appear warped. Make a plan to repair these items.
  • Install solar lighting around your driveway and walking paths. This will ensure that visitors can clearly see each step as they move around your property at night. Using solar lights is a great way to increase security without too much of an investment.
  • Keep pools, spas, and jacuzzis covered whenever they aren’t in use to prevent accidental drownings. If you’re using the feature as part of your entertainment activities, designate a responsible adult as a lifeguard throughout the event.
  • Don’t let your shrubbery and decorative plants cover walking paths. These can be a slipping hazard. Make sure to trim back your foliage to give visitors ample right-of-way through your yard.
  • Install radon and carbon monoxide detectors to reduce the amount of potentially harmful particles in the air.
  • Close off rooms that contain dangerous materials and equipment. You may need to temporarily relocate some items to keep them out of the way of curious visitors.
  • Install security cameras throughout the property. These don’t actually stop accidents from happening. However, if an accident does occur, a camera can provide vital evidence that can positively impact any possible court cases.

Coastal Wealth Insurance LLC carries homeowner’s insurance policies for residents in the Fort Lauderdale, FL area. Let us know how we can help you protect your most important asset.

How many commercial insurance policies does a small business need?

You need to start protecting your small business before the first time you open your doors. But it is important to have enough protection without getting unnecessary coverage that will cost your company extra money.

At Coastal Wealth Insurance LLC, we regularly assist small business owners in Fort Lauderdale, FL who want to be able to spend their days on important work. They know that if there is an accident or another unfortunate event, they don’t need to worry.

Minimal Coverage

Every business needs at least General Liability and Property Insurance. The property insurance will cover the physical building and the items contained within and may be either for a property owner or renter, depending on the situation. Liability insurance will protect your business in case of an accident, like if someone falls while on the premises.

This basic coverage can usually be combined to save money, in a Business Owner’s Policy. You may be able to save money by having all your insurance through one provider, too.

Other Kinds of Coverage You May Need

Professional Liability insurance will cover mistakes caused by errors or omissions in your services or products. A Commercial Auto Insurance policy may be necessary if you use vehicles for work purposes.

You may need Workers’ Compensation Insurance if you have employees so that they will be taken care of if they become ill or injured while in your employ. To ensure that you have protection if your business is ever temporarily shut down, you can obtain a Business Income Insurance policy.

If you are unsure about how much insurance you need, call Coastal Wealth Insurance LLC and let us know what your Fort Lauderdale, FL needs. We can help find the coverage that best meets your needs.