Insurance

When to Review Commercial Insurance Coverage

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It’s important to review your commercial insurance coverage at least once a year and there are also some scenarios when it’s necessary to review coverage more frequently. The agents at Town & Country Insurance in Buford, GA suggest that this is the best way to understand the terms of your policy and update them when needed.

It’s also important to review your policy after a loss. Many businesses find out they were not covered for something after a tragic event took place. Also, anytime your business goes through massive changes, it’s important to review coverage.

Besides once a year, it is recommended that you review coverage when these instances occur:

  • When revenue changes
  • Property changes and when new property is acquired
  • Added employees
  • Changes to products
  • Company vehicles are added

Liability coverage will need to be adjusted as your businesses begin to have a higher revenue stream. The size of your company will determine if you need to update workers comp insurance as well. It’s important to know the difference in numbers of employees so when your Georgia company surpasses the limit of employees, you can update your insurance to follow suit. If you do add company vehicles, the need for insurance will be based on who is driving and what the vehicle is used for.

If you are selling your product to customers, your product liability insurance will need to be updated any time there are significant changes to your products.

It’s important to review coverage for a number of reasons. You may be overpaying for coverage you aren’t using or you might discover that you are underinsured. While reviewing your coverage, you may find mistakes with the policy. Not only can mistakes cost you more money, but they also could become a major issue if you are trying to use coverage that you thought you had. Once you review coverage, you may also be able to get a different rate that is better than before.

To review your commercial insurance coverage, contact Town & Country Insurance, serving Buford, GA. Our agents can answer your commercial insurance questions.

Do I need insurance for my bicycle?

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If you’re considering calling Town & Country Insurance in Buford, GA to get your bicycle covered, here’s what you need to know:

It’s Not Legally a Requisite

If you own a motorboat, a jet ski, or a dune buggy, you are required by law in Georgia to get it insured. Not so much with a bicycle. The laws about recreational insurance generally revolve around motor vehicles. This means that you don’t need insurance, legally speaking, for a kayak, a skateboard, canoe, or anything else powered by your arms and legs, and that includes a bicycle. The question of whether to insure your bicycle comes down to a personal choice rather than a legal obligation.

But It’s Not a Bad Idea

All it takes to steal a bicycle is a pair of bolt cutters. You can take the front wheel inside with you when you stop at the country store on your weekend ride, but that’s not going to stop someone from throwing it into the back of their truck and replacing the wheel sometime later. If you’re just using a cheap old bike you picked up from a thrift store to get around, then insuring it might be more trouble than it’s worth. If you’re a serious cyclist, there’s no reason not to consider getting a policy on your bike. Some sellers and manufacturers offer warranties, but these are limited in a number of ways, and typically run out in a few years.

The question simply comes down to the extent to which you care about your bicycle. If you’re serious about cycling, then there’s no reason not to call Town & Country Insurance and see what kind of bicycle coverage you can get in Buford, GA.

Should You Buy Term or Perm Life Insurance?

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Life insurance isn’t a one-size-fits-all type of purchase, though many people don’t realize this until far later in life. There are two major types of life insurance that are worth knowing about, and each come with their own set of benefits and drawbacks. If you live in Dacula, GA, find out more about each one from your friends at Town & Country Insurance

Term Insurance 

Term insurance is when you take out a policy for a certain length of time. Most people do this for their children. If something should happen to them before the child becomes an adult, they’re financially covered. Term insurance is typically a lot cheaper than permanent insurance, though many people don’t realize just how limiting it can be. For example, even older children may need assistance after a parent has passed or a spouse may need more protection against mounting costs and hidden fees. 

Permanent Insurance 

Permanent insurance lasts forever and is made to give the holder the ultimate in peace of mind. It is typically more expensive, but it also serves as a safety net in the case of an extreme event. Should you lose your job or face debt, you can actually borrow from the policy during a crisis. It’s not meant to serve as a savings account, but it can be incredibly handy when there doesn’t seem to be anywhere else to turn. Permanent insurance is excellent if you live in Dacula, GA, and have loved ones who depend on you. 

To find out more about Town & Country Insurance, simply call us today for more information. We want to talk to you about what policy makes more sense for you. Contact us to learn more about our services and rates!

Does Commercial Insurance Cover Vandalism?

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Commercial insurance helps to protect your business in a variety of ways. One of the questions we are often asked at Town & Country Insurance, serving the greater Buford, GA area, is whether vandalism is covered under a commercial insurance policy or not. Here is some information you need to know about this topic.

Vandalism is covered under your commercial insurance plan. For example, if you have commercial insurance property coverage, and someone throws a rock through your store front window, the insurance company would pay to replace the window, minus your deductible. Likewise, if someone breaks into your store and smashes your computer equipment, that would be covered as well.

However, the catch to vandalism is your deductible. Most commercial insurance policies have fairly high deductibles. As such, if someone spray painted the side of your building, your deductible may be more than buying a can of paint and painting over the graffiti in question yourself. Before filing a claim for vandalism, you should take the time to find out how much it will cost to repair the damage yourself and then compare that amount to your deductible. If they are close, you may be better off by not filing an insurance claim and just paying out of pocket to fix or rectify the damage yourself.

Do you have questions about your existing commercial insurance policy or are you looking to obtain a new one in the greater Buford, GA area? Then let Town & Country Insurance help. Give us a call today and let us discuss your insurance needs with you, answer any questions you have, and put together the perfect policy for you.

Filing a Home Insurance Claim in the State of Georgia

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No one wants their home to get damaged, but the risk is always there. That’s why people get homeowner’s insurance, but it’s a product that people hope they never have to use. No matter what happens, you need to know how to file a successful claim, and you should avoid certain mistakes that can cost you both time and money.

When You Need to File a Claim

Every home insurance policy has a deductible, and it should be taken into consideration before you file a claim. Smaller issues (what many insurance companies call “incidentals”) won’t meet your deductible, and they can give them a reason to raise your rate. You should think twice before you file a claim on these types of issues because it can raise your overall insurance cost. Every claim you file is recorded in a database, and making too many within a certain period could cause insurance companies to flag you as high risk.

If you live in Buford, GA, Town & Country Insurance can help you find a home insurance policy that will meet your specific needs, and we can help you with the entire claims process. Be sure to contact us so we can answer any questions you may have. We would be glad to serve you!

What to Expect from the Adjuster Inspection

Once you’ve made a good assessment of the damage, you will have to present it to the insurance adjuster. He or she will make sure that nothing has been overestimated or that any important details have been missed. You should be careful what you say to the adjuster because this person represents the insurance company, and he or she will look for any reason to reduce the cost of the claim. Be ready to fight during the entire process, and make sure you take plenty of pictures so you can have a documented record.

If you need help filing a claim on a home insurance policy you’ve signed with us, Town & Country Insurance has a team of agents that can help you throughout the entire process. We have been meeting the needs of the residents of Buford, GA for a long time, and we have a reputation of getting results for our clients. Be sure to get in touch with someone at our office, and we would be happy to speak to you about all your insurance needs!

Life Insurance Guaranty Laws in the State of Georgia

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If you purchased an insurance policy with a company that has gone out of business, you have the right to keep it regardless of what happens to the insurer. A special officer from the Georgia Guaranty Association is responsible for facilitating the transition of any active policies once they have shut down.

This level of protection was set in place by the Georgia Guaranty Association Act in 1981, and it was amended in 2012. The process is done under court supervision, and it’s meant to protect Georgia residents from any unfair treatment because of a company’s insolvency or liquidation.

What Happens When an Insurer Goes Out of Business

If an insurer decides to close up shop, the Georgia Guaranty Association will be able to keep your policy in force if the premiums have been paid and there is enough money to cover the cash value. They may cover the policy directly, or they may transfer it to another company. Regardless of what happens, you should continue to pay the premiums. The Georgia Guaranty Association has the same rights and authority as the insurance company, so they can cancel the policy if they have reason to do so.

If you live in Buford, GA, Town & Country Insurance can write many different policies, and we will be able to find a plan that will meet your needs. We can also offer it to you at a price that you can afford. Our agents can help you get the coverage you need, and we can give you advice on all the policies we offer. Just reach out to us, and we would be happy to speak with you!

Types of Policies That are Protected

While many insurance policies are protected under the act, there are some that aren’t, and there are coverage limits on each one. If the company went out of business before July 1, 2012, you could get protection for the following policies:

•    Life insurance policies with up to a $300,000 death benefit and a $100,000 surrender value for each person covered.
•    Health insurance claims of up to $300,000 for every covered person.
•    The cash value of an annuity of up to $100,000 for every annuitant, and up to $300,000 per annuitant if it’s in the payment period.
•    Up to $5 million in group annuity benefits for each annuitant.

The following protection is available if the insolvency occurred after that date:

•    Life insurance policies of up to a $300,000 death benefit and a $100,000 surrender value for every insured.
•    Hospital, medical, and surgical claims, as well as any major medical claims up to $500,000 for every insured.
•    Disability, long-term care, or any other type of health insurance of up to $300,000 for every insured.
•    Any annuity cash value of up to $250,000 for every annuitant, and up to $300,000 if it’s in the payment period.

Regardless of these limits, the amount covered can’t be greater than the original obligation of the insurance company.

If you have any questions about any insurance regulation in the state of Georgia, Town & Country Insurance can answer them for you. We’ve been serving Buford, GA for a long time, and we understand the needs of the people who live in the area. Feel free to get in touch with us so we can take care of all your insurance needs.