Is it time to get an umbrella policy for your business?

Posted on April 29, 2022May 3, 2022 by admin

Are you a business owner in the greater Jacksonville, FL area? The team here at 925 Partners is available to help you with all of your commercial insurance needs. Our team can help whether it’s time to upgrade your current policy or add an umbrella policy to your commercial insurance portfolio. Give us a call today to schedule a consultation.

Is it time for an umbrella policy for your business?

Protecting a business from loss, liability, or damage can feel impossible. While there’s no guarantee that the future will work out the way you want it to, it is possible to be prepared for the unexpected.

Umbrella insurance is an effective way to ensure that your business will be able to weather most storms and continue thriving into the future. When your primary commercial policy is exhausted due to policy limits, having an umbrella policy already in place can help to fill any gaps.

This type of policy is a secondary one that will come into play when your company experiences significant losses that exhaust the primary policy of record.

With an umbrella policy, you can continue to receive coverage and help to protect your company’s assets, inventory, and equipment. And depending on the way that your firm is structured, having the right umbrella policy in place can also help protect the company’s principals from personal liability. Find out more today!

You can count on us

925 Partners is proud to serve the business community of the greater Jacksonville, FL area. If it’s time to upgrade your company’s insurance, call us today. We can schedule a consultation to review your options and help your company get its coverage.

Should I Get Term or Permanent Life Insurance?

Posted on March 31, 2022April 5, 2022 by admin

There are two main types of life insurance: term and permanent. So, which one is right for you? Here’s a look at each.

Term life insurance is just what it sounds like: insurance that lasts for a fixed period, or “term.” It’s typically cheaper than permanent life insurance. It is a good option if you need coverage for a specific period, such as until your children finish college or you retire.

Pros of Term Life Insurance

Cheaper: Term insurance tends to be cheaper than permanent life insurance because it covers you for a set period and pays out only if you die during that term.
Flexibility: You can often buy term life insurance for 10- or 20-year periods, which makes it ideal if you don’t know how long you need to be insured.

On the other hand, permanent life insurance covers you for your entire lifetime. It’s more expensive than term life insurance, but it also has some valuable perks, such as cash value that grows over time. Here’s a quick look at the differences between term and permanent life insurance, as well as some of the pros of each:

Pros of Permanent Life Insurance

Coverage for Your Entire Lifetime: Unlike term insurance, permanent coverage is guaranteed to last as long as you remain insured.
Cash Value: If you purchase enough permanent coverage, you can build up a cash value that you can use for retirement or other financial needs.
More Investment Options: You can invest some of your permanent coverage’s cash value through its policy, allowing you to earn interest on it.

Term life insurance is cheaper and usually shorter-term, while permanent life insurance has a higher cost and covers you for your entire life. As a result of these factors, term life insurance is best if you know the exact period you need coverage for, while permanent life insurance is ideal if you want coverage until your retirement. Looking for life insurance in Jacksonville, FL? 925 Partners offers a variety of life insurance products that can help you meet your needs.

How to check if your home or business is on a flood zone

Posted on February 7, 2022February 1, 2022 by admin

Flooding is a serious problem for home and business owners in Jacksonville, FL. The available flood insurance comes with a 30-day waiting period which might not be helpful if flooding occurs during the waiting period. One of the most common challenges among many homeowners is checking whether their property is in a flood zone. If this is your problem, you’re at the right place. This article will outline various ways you can use to check whether your property is in a flood zone or not.

Check the FEMA flood maps

The Federal Emergency Management Agency (FEMA) has a tool that makes it easier to check whether your home is in a flood zone or not. The flood map shows critical information like floodways, zones and risk levels. The map labels specific areas around your property as areas of minimal flood hazard or annual chance of flood hazard.

Ask your flood insurance provider

Your flood insurance provider already knows your flood risk level. At 925 Partners we require your flood risk information when you buy flood insurance for the first time. In most cases, this information helps to determine your insurance rates.

Track changes in topography

With the growing economy, construction and changes in flood plains and topography, flood zone designations can change over time. If your home was marked as a low-risk flood area five years ago, the changes in your neighborhood could change for the worse. Check different projects in your area and assess how they affect flood risk levels.

Hire a professional

Reading maps is not enough to determine your flood risk, as they change regularly. Consider hiring a property expert to check the property using the right tools and expertise. It’s even more critical if you suspect you’re buying a property in a high-risk flood area. A licensed surveyor can advise you accordingly or get the home elevated above the flood level.

Need more information about flood insurance or flood risk levels in Jacksonville, FL? Contact 925 Partners for all your flood insurance needs, and we will be happy to help you.

Commercial Transportation Insurance FAQs

Posted on January 31, 2022February 1, 2022 by admin

Are you in the trucking business? While you are doing everything to navigate this line of business, you need commercial transportation insurance to cushion your business against numerous risks in this industry. Want to learn more about transportation insurance? Don’t worry, because 925 Partners of Jacksonville, FL got you covered when it comes to commercial insurance needs.

What is transportation insurance?

As mentioned, this insurance coverage covers small businesses and owner-operators in the trucking business. You don’t need to have a fleet of trucks to invest in transportation insurance. Even if you have one or two trucks, transportation insurance is pivotal for your business.

Generally, you need transportation insurance if you are:

An independent own-operator or truck driver
Commercial transport/logistics business
You operate in any business that has trucks, drivers, and transportation

From a single truck to a fleet of trucks, commercial transportation insurance is not only legally required but cushions your business against multiple risks.

What does transportation insurance cover?

Here are the areas covered by transportation insurance:

Physical damage: Like standard auto insurance, transportation insurance has collision and comprehensive coverages to protect your trucks against risks like accidents, fire, theft, and other hazards listed in your policy.
Liability coverage: Since trucks are heavy, the liability claims can be pretty significant if you are at fault for an accident. The liability insurance covers you when accused of property damage and bodily injury. It also covers you when sued.
Non-trucking coverage: Transportation coverage covers you when your trailer isn’t transporting goods. For instance, bobtail insurance covers the truck after goods have been delivered or when using the truck for personal reasons.

There are plenty of other areas covered by transportation insurance. To learn more about this coverage, please contact 925 Partners. Else, you can pass by our Jacksonville, FL offices to chat with one of our agents.

What you need to know about classic car insurance

Posted on December 13, 2021December 8, 2021 by admin

At 925 Partners, we understand that classic cars are a lot more than just a hobby. If you are a classic car owner in the Jacksonville, FL area, we are here to help you with all of your insurance needs.

Classic car insurance: what you need to know

Classic car insurance policies differ from traditional car insurance policies in a number of ways. For instance, where you store your car can make a big difference in the type of coverage you need. How often and how far you drive your car can also change your insurance requirements. Someone who keeps their classic car in temperature-controlled storage and only drives it once or twice a year to classic car shows will have different needs than someone who has their car at home and drives it more frequently.

When it comes to classic cars, you will want to make sure that you have the right coverage for your vehicle as well as your unique situation. There is no reason to be overwhelmed by the process of selecting your policy and coverage levels, as our team is here to help! Find out more about the options available and how they can suit your needs today.

Rely on us for all of your classic car insurance needs

If you live in the greater Jacksonville, FL area and require classic car insurance, you can rely on the team at 925 Partners. We understand that a classic car is more than just a vehicle and we want to help you protect your asset. Give us a call or stop by our office today and meet with one of our helpful agents.

Who should buy umbrella insurance in Jacksonville, FL?

Posted on November 22, 2021December 8, 2021 by admin

Who should buy umbrella insurance in Jacksonville, FL?

Ever wondered why most of your standard home or auto policies have liability coverage? Our litigious society makes us vulnerable to lawsuits that are often too expensive to pay. Insurance companies in Jacksonville, FL are keen to ensure that policyholders have enough liability coverage to help pay for legal fees if they’re sued. That’s why 925 Partners recommend having umbrella insurance. So, who should buy umbrella insurance? Is it necessary? Read on to find out!

Car or boat owners

If you cause a car or boat accident, expenses can quickly skyrocket, especially if there are multiple people injured or multiple vehicles involved. Without enough liability to cover property damage and injuries, you may end up getting sued. With umbrella insurance, you don’t have to worry if your car or boat insurance is not enough, as the policy will pay the rest.

Parents

Being a parent in Jacksonville, FL, especially to young children, means dealing with cases of property damage and injuries. If your child hits another child or damages a neighbor’s property, you will be held accountable for the injuries or damages. It’s worse if you’re sued.

Business people

As a business person, you’re more likely to get sued by your customers or employees for various reasons, including injuries at the workplace. Commercial umbrella insurance can help pay for your defense fees if your liability coverage is not enough.

Dog owners

If your dog bites other people, you can be sued for the injuries. Fortunately, umbrella insurance can pay for the legal fees if your home insurance liability coverage is not enough to pay for everything.

There are so many reasons you may want to add an extra layer of liability protection to what you already have. If you need any help, feel free to contact 925 Partners, and our team will be happy to help.

Life insurance FAQs

Posted on October 15, 2021October 5, 2021 by admin

One of the most important things you can do for your family is to purchase life insurance. While you are with them, you are there to support them emotionally and financially. Life insurance extends that care after you are no longer there in person. If you have questions about life insurance, you are not the only one. Having an independent insurance agent who can answer your questions makes purchasing life insurance easier. At 925 Partners in Jacksonville, FL, we have a team of professionals who work to provide our clients with personalized service.

What type of life insurance should I buy?

Basically, there are two types of life insurance; term life, and whole life. Term life insurance is called term because it lasts for a specific number of years. At the end of the term, you may be able to extend your policy, but the rate will go up. Whole life insurance lasts for your entire life and it earns cash value. Term life is less expensive, but once it ends, if your health has deteriorated, you may no longer be able to buy life insurance. Both types have benefitts and negatives.

How much life insurance do I need?

This is a complex subject that doesn’t have just one answer. How much life insurance you need is particular to your situation and who depends on your wages. It also depends on what your income is.

Can anyone take out an insurance policy on me?

No, a stranger can not purchase life insurance for you. To purchase life insurance for someone, you must have an insurable interest.

Can I choose a child as a beneficiary?

You can choose anyone you want as the beneficiary, but be aware that a child will not be able to collect the money until they are of legal age in the state where they live.

Contact 925 Partners in Jacksonville, FL when you need information about life insurance.

Why should someone get flood insurance in Jacksonville?

Posted on September 30, 2021October 5, 2021 by admin

Those that are in the Jacksonville, FL area may find that buying a home is a great long-term housing option. If you opt to purchase your home, you will want to know that your investment in your property is fully protected. A great way that this can be done is by getting a flood insurance plan. There are several reasons to obtain this coverage.

Protect Their Home and Personal Assets

The primary reason someone will want to get a flood insurance plan in this area of Florida is to protect their home and personal assets. If you have bought a home that is located within a flood zone, there is going to be a chance that it could be damaged by a flood. The costs to repair or replace your home and personal assets can be significant and may not be protected much under your home insurance plan. A flood insurance policy ensures you have protection in these situations.

Comply with Lender Standards

You will also want to get a flood insurance plan to ensure you can comply with your lender’s standards. Those who want to purchase a home in Florida may want to finance their purchase by taking out a mortgage. If your home is in a flood zone, your lender will require you to get flood insurance. Maintaining a full flood insurance plan can ensure you remain in compliance with this obligation.

Anyone that is in the Jacksonville, FL area and wants to get a flood insurance plan should speak with someone experienced and that they can trust. The team with 925 Partners can offer all the support that is needed to ensure your home is properly covered. 925 Partners will help you understand your options and give any support needed to build your next plan.

When should you review your auto policy

Posted on August 16, 2021July 31, 2021 by admin

Insurance of most types is not static. It is not something you just buy and never have to think about again. When changes happen in your life, insurance needs to be reviewed and auto insurance is not an exception. When your auto insurance renews, you will get a declaration that gives you all the pertinent information about your particular policy. At 925 Partners in Jacksonville, FL, we have a team of professionals with years of insurance knowledge and experience ready to give you the service you expect from your local independent insurance agency.

Yearly review

When you get your policy declaration don’t just throw it away or file it away, actually read it. Look at the coverage you have. Check the amount of liability coverage you have and the other coverage as well. Has one of your vehicles outlived its need for comprehensive and collision coverage? Do you have complete glass coverage and towing? What is your deductible? If you have questions, call your insurance agent.

You add a teen driver

When your children start to drive, it may be time to take a good look at the coverage you have and maybe upgrade it.

When you add or remove a vehicle

When you replace a vehicle on your auto insurance policy, you may not want the exact coverage you had on a previous vehicle depending on the age and type of vehicle.

Take a look at your deductible

Before your insurance kicks in, you need to pay a deductible out of pocket. The higher your deductible the lower your premium. If your deductible is $500, you may want to consider raising it to $1000. Especially if you will rarely use your policy, it can end up saving you money to choose the higher deductible.

Contact 925 Partners in Jacksonville, FL when you have auto insurance questions and needs.

Why Business Owners Need Commercial Insurance

Posted on July 29, 2021July 31, 2021 by admin

Are you a business owner in the Jacksonville, FL area? If so, it’s important that you consider getting business insurance. What is business or commercial insurance? This is important insurance that protects you from liability and financial loss in the event of a lawsuit.

Not My Fault

Sometimes lawsuits arise out of something that is no fault of your own. Even if you do everything right, there is a possibility of injury or damage to others or their property when you create a product or perform a service for them. How do you protect yourself?

What Commercial Insurance Covers

Good commercial insurance in Jacksonville, FL should cover the following (to comply with insurance laws):

Property damage: covers damage to others’ property as a result of your products or services
Commercial Auto: covers accidents resulting in damage to your company vehicles or accidents involving others’ property
Workers’ compensation (required in Florida): covers workers’ compensation claims that result from company actions or conditions or that occur at work

Why You Need It

If you have a business that works with others’ property such as vehicles, recreational equipment, real estate, or other properties, it can be quite costly if you damage someone’s property.

Commercial auto coverage will cover you in the event of an accident that damages your company vehicle or other vehicles that you are using under your business name.

Workers’ compensation is required coverage in Florida, so you should always carry this.

About Liability Insurance

Liability insurance for your business is just as important as an auto liability. This type of insurance pays for damages, injury, and loss of another person who proves that your company’s actions caused their loss or injury. This is necessary insurance to protect your assets.

Start Here

One company you should check out to learn more about this type of insurance is 925 Partners in Jacksonville. They have all of the types of commercial insurance that you need to protect your company from the unexpected.

When you worry about what the future might bring and need to protect your business from liability contact 925 Partners and rest easier.