Does My New Business Need Commercial Insurance?

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Just like individuals, businesses need insurance. If you’re starting a new business, it’s essential to get insurance that provides coverage for unexpected events.

At Allied Brokers Insurance Agency Inc., serving Palo Alto, CA, we can help your business get the right commercial insurance. We offer a variety of commercial insurance options and work with multiple insurance carriers, so you have choices. Here’s what you need to know.

What Is Commercial Insurance?

Commercial insurance is a category of insurance that provides coverage to businesses. There are several types of commercial insurance. Most businesses need a selection of commercial insurance types. Some of the types of commercial insurance include:

  • General liability insurance
  • Professional liability insurance
  • Business income coverage
  • Commercial property insurance
  • Workers compensation insurance
  • Commercial auto insurance
  • Data breach insurance
  • …and others

Not All Types of Insurance Are Right For Your Business

New businesses often don’t have employees, and thus may not need insurance that protects employees, like workers’ compensation insurance. In addition, a new business that doesn’t have any vehicles may not require commercial auto insurance.

In other words, your business may not need all types of commercial auto insurance. Have a conversation with your insurance agent to find out what types of insurance are right for your business.

Need Help Choosing Insurance? Call Today

If you need help choosing the right insurance for your business, the professionals at Allied Brokers Insurance Agency Inc., servicing Palo Alto, CA, can help. We provide our customers with information to help them find the right insurance for their needs.

We also work with several insurance carriers so that we can provide quotes from multiple carriers. This will help you find the right type of insurance for your needs. Want more information? Call today to learn more.

Navigating Your Insurance: Replacement Cost vs. Actual Cash Value Explained

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California led the nation in home insurance claims filed between 2015 and 2019. After the recent wildfires, Palo Alto, CA residents should review their home insurance policy. Understanding replacement cost coverage and actual cash value is crucial right now.

Replacement Cost Coverage

This compensation focuses on replacing damaged belongings with new yet similar items. The replacement is an exact or equivalent brand, design, size, color, shape, and feature. Replacement cost coverage (RCV) is the default for home structure damage and optional for belongings. You pay higher insurance premiums to get it for your belongings, but you pay nothing out of pocket for your insurance claim.

If you choose this route, one of our Allied Brokers Insurance Agency Inc. representatives will send you a check for the current cost of a similar item. You can use that to replace your damaged items. The price could be higher or lower than what you paid initially.

Guaranteed and extended are the two types of replacement cost coverage. Guaranteed coverage pays the full amount to replace damaged homes and belongings. Extended coverage is an add-on policy that covers up to 25% more than the policy limit. It will not cover the entire total, but you pay much less out of pocket.

Actual Cash Value

This compensation focuses on the depreciated value of damaged belongings. You get a check for the item’s current value, not the original cost. Actual cash value (ACV) is the default for belongings and may be an option for home structure damage. Premiums are lower, but you pay more out-of-pocket if you file an insurance claim.

If you choose this route, an appraiser will gather the initial cost, date of purchase, and condition of your damaged belongings. Next, we factor in depreciation and determine the value of your items today. An Allied Brokers Insurance Agency Inc. representative will then send you a check for the depreciated amount. Expect that price to be lower than the initial payment due to wear and tear or product discontinuation.

You must decide whether saving now or saving later is more important. One of our insurance agents will discuss that and more with you. For more information on home insurance compensation, call us or visit our Palo Alto, CA location.

From Restoration to Accident Protection Classic Car Insurance Stands the Test of Time

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There are vehicles, and then there are classic cars, and there is a world of difference between the two. Classic cars are special from the look and feel to the sound and mystique these historical vehicles possess. That is also why classic car owners in and around the Palo Alto, CA, area rely on the proven and helpful team at Allied Brokers Insurance Agency Inc. for all their classic car insurance questions and needs.

From Restoration to Accident Protection, Classic Car Insurance Stands the Test of Time

The time, effort, and expense of restoring a classic car can be considerable. Along with benefits like accident protection, classic car insurance can also help protect your classic ride during the restoration process. It seems that everyone loves classic cars, but few people know and can appreciate the work it requires to maintain, restore, and repair these beautiful and historic time capsules on wheels.

The good news is that classic car owners can manage those expenses and protect their classics with solutions like classic car insurance that stand the test of time – like the vintage vehicles they protect. At the Allied Brokers Insurance Agency, we provide insurance solutions for classic cars, their owners, and the history they keep.

Classic Car Insurance for Palo Alto, CA Area Classic Car Owners

Do you own a classic car and live in or around the Palo Alto area? Would you like to learn more about insurance options for your treasured classic? We can help. Contact us to find out more and schedule an appointment with our experienced and professional team at Allied Brokers Insurance Agency Inc. for the classic car insurance solutions you need and deserve for your vintage vehicle today.

How Umbrella Insurance Protects Young and Established Families in Palo Alto, CA

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Protecting your investments and your young family is crucial while living in Palo Alto, CA, especially with the rising costs of living and the risks of natural disasters. Even if you have standard auto and home insurance, there’s a risk of experiencing liability limitations when faced with a serious or rare lawsuit. Understanding how umbrella insurance can protect young and established families is possible by working together with Allied Brokers Insurance Agency Inc.

Protect Against Excessive Liability Claims

Young and established families can quickly become financially devastated with high-cost liability claims. Umbrella insurance can help provide protection even if your child causes significant damage to the property next door. This helps safeguard your home and surroundings even when you do not control those in your household.

Future Income and Asset Protection

Umbrella insurance ensures long-term financial stability by providing medical and legal expense coverage to avoid disruptions to existing savings goals. This can help shield the wealth you and your family are building anytime you experience or encounter an unexpected lawsuit or claim.

Benefits of Umbrella Insurance for Young and Established Families

  • High Coverage: Umbrella insurance policies are affordable and offer high coverage options.
  • Broader Protection: Go beyond the limitations of standard general liability insurance with umbrella insurance policies.
  • International Protection: Umbrella insurance is optimal for young families who travel to work or abroad internationally on vacation.

The more familiar you are with umbrella insurance policies, the easier it will be for you to craft a policy that provides peace of mind for your young and established family. To learn more about umbrella insurance policies and determine if one is right for you, visit Allied Brokers Insurance Agency Inc. in Palo Alto, CA. Contact Allied Brokers Insurance Agency Inc. directly today for your consultation and quote.

Do I Have to Get Flood Insurance to Buy a House?

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You may be required to get insurance when buying a house. The type of insurance you need and whether you’re required to get it depend on various factors.

If you need to get flood insurance, the Allied Brokers Insurance Agency Inc. professionals servicing Palo Alto, CA, can assist you. We offer a range of insurance types, including flood insurance. Here’s what you need to know.

Defining Flood Insurance

Flood insurance is a specific type of insurance that aids recovery after a flood. It’s separate from your home insurance policy, as standard home insurance policies do not cover flood-related damages. Flood insurance is provided through the National Flood Insurance Program (NFIP), which is managed by the Federal Emergency Management Agency (FEMA).

Do Mortgage Lenders require Flood Insurance?

Mortgage lenders may require flood insurance if you buy a home in a high-risk flood area. These high-risk flood areas are designated on flood maps made available online through FEMA.

If your lender requires flood insurance, start shopping for a policy early in the home-buying process. If you can’t find an affordable policy by the time your loan is ready to fund, your lender won’t provide the money to buy the house.

What to Expect When Getting Flood Insurance

Although FEMA provides flood insurance, you can obtain your flood insurance policy from Allied Brokers Insurance Agency Inc., servicing Palo Alto, CA. At Allied Brokers Insurance Agency Inc., we offer excellent customer service and can answer your questions to help you find a policy suitable for your new home. Call us today.

Are Car Customizations Covered Under Auto Insurance Policies?

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For the most part, drivers on the road get a car insurance policy to protect a vehicle that they’ve driven off of the lot and kept in the same condition since they’ve been behind the wheel. However, other people like to make their cars their own. This might include a wide range of customizations and aftermarket additions that enhance the look and performance of their vehicles. But if you fall into the latter category, it’s important to ask whether your average auto insurance policy covers these kinds of customizations. Let’s look at what auto insurance generally covers and how you can find the right policy with the support of us here at Allied Brokers Insurance Agency Inc. in Palo Alto, CA.

Are Car Customizations Covered Under Auto Insurance Policies? Generally, No.

If you find yourself in an accident and you’re hoping that your customized car will be covered, you may be surprised to find that you don’t have coverage extending beyond the car’s value. Customizations can generally be quite expensive, and these aren’t factored into the coverage you receive when you agree to purchase a policy with an auto insurance provider.

But that doesn’t mean you’re out of luck. The best way to make sure that your car is fully covered should you choose to modify it in any way is to buy supplemental coverage or coverage that pertains specifically to the wide range of customizations that you plan on making. It’s not uncommon for cars to be customized in some way, shape, or form. As such, finding a good policy and a supplemental policy is more than possible.

Get the Coverage You Deserve with Allied Brokers Insurance Agency Inc.

We at Allied Brokers Insurance Agency Inc. in Palo Alto, CA, make it easy to find auto insurance, whether you have a customized car or not. Are you ready to shop around for policies? Compare quotes with us today!

Insurance Coverage for An Impending Business Expansion Project

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Consider the potential challenges and changes that may occur during a business expansion project. Adjusting your commercial insurance policy accordingly is crucial to ensure adequate coverage.

Business Expansion Project

A business expansion project can disrupt your normal work schedule and require modifications in how customers and employees access your property. Your liability risk may increase during the project, and your business may also be exposed to criminal activity and vandalism.

Access To Your Property

Identify which areas will be inaccessible during the project and clearly mark areas for your patrons and workers to use. Recognize risks that could result in an injury. Adding liability protection to your commercial insurance policy is imperative if it’s impossible to prevent people from coming close to the expansion efforts. This protection will cover you in the event of an injury or accidental damage during the project.

Protecting Materials

The new materials used for your business expansion could become damaged during construction. Simple coverings may not be sufficient to keep the materials clean, dry, and damage-free. Consider the risk of bad weather damaging materials not stored in a waterproof structure. Include these materials in your commercial insurance policy.

Guarding Against Criminal Activity

Add vandalism and theft protection to your policy. If any materials are altered or stolen, this protection will cover the cost of material repairs and replacements.

Updating Your Commercial Insurance

Don’t risk inadequate commercial insurance protection during a business expansion project. Consult with one of our agents at Allied Brokers Insurance Agency Inc., an agent serving Palo Alto, CA, who will be happy to assist you.

Steps to Take This Fall to Prevent Frozen Outdoor Pipes This Winter

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As autumn leaves start to fall in Palo Alto, CA, it’s an inevitable reminder that winter is fast approaching. While the area doesn’t experience the most severe winters, ensuring your home is ready for the colder temperatures is still crucial. At Allied Brokers Insurance Agency Inc. in the Palo Alto, CA area, we want to help you prevent the bother and cost of frozen pipes this winter.

The Importance of Prevention

Frozen pipes can create significant damage, leading to expensive repairs and possible insurance claims. You can avoid this inconvenience by making a few simple preparations in the fall. Protecting your pipes provides peace of mind when the temperatures plummet.

Valuable Fall Preparations

Begin by insulating the exposed pipes. Foam pipe insulation is effortless to install and forms a protective barrier against the cold. Remember to disconnect and drain garden hoses, as leftover water can freeze and harm your plumbing system. If your home has exterior water valves, closing them will further reduce the risk of freezing.

Identifying Vulnerabilities

Inspect your home for drafts near pipes. Cold air can infiltrate through cracks or gaps around windows and doors, increasing the chance of freezing. Sealing these gaps protects your pipes and enhances your home’s energy efficiency.

Embrace a Worry-Free Winter

By taking these precautions, you can enjoy a worry-free winter, secure in the knowledge that your home is protected against the cold. For more advice on safeguarding your home this winter or reviewing your insurance policy, contact Allied Brokers Insurance Agency Inc., proudly serving throughout the greater Palo Alto, CA area. We’re here to ensure your home’s safety and comfort all year round.

For Protection as Reliable as Your Classic Car

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Everyone has a favorite classic car and a personal reason for it being their favorite. These four-wheeled mechanical time capsules from bygone eras hold a special meaning for different people, which holds true for classic car owners. That’s why residents from Palo Alto, CA, and surrounding areas rely on the professional and friendly team at Allied Brokers Insurance Agency Inc. for their classic car insurance needs. True, there are vehicles, and then there are classics.

Protection as Reliable as Your Classic

The old saying, "They don’t make them like they used to," is often used to refer to many things, automobiles being one of them. For classic car owners, this saying truly resonates in terms of the look, feel, quality, and even reliability of their classic cars compared to modern vehicles.

However, one thing that both new and classic cars have in common is the necessity for insurance protection. This is where working with experienced and professional insurance agents proves beneficial because when it comes to insurance, you want coverage and protection that is as reliable as your beloved classic car.

Classic Car Insurance in Palo Alto, CA

If you own a classic car and have questions about classic car insurance or would like to delve into how insurance can help protect your vintage vehicle, our Allied Brokers Insurance Agency Inc. team is ready to assist. Contact us today to learn more about the benefits of classic car insurance, to make an appointment, and to ensure your classic car gets the protection it needs and deserves.

Adding More Coverage to Home and Auto With Umbrella Insurance

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Every insurance policy offers different types of coverage to protect your home and car. Each type of coverage is vital for your protection, but many policies don’t come with substantial liability coverage. While liability coverage is included with both home and auto insurance, you might not have enough should a serious accident occur. For additional protection, there’s umbrella insurance. To learn more about these policies, feel free to contact us at Allied Brokers Insurance Agency Inc. in Palo Alto, CA.

Why You Need More Liability Coverage

An accident with your vehicle or inside your home can lead to serious injuries. However, medical care costs in the U.S. are so high that even minor injuries can be extremely expensive. If you’re left with these costs, it can cause severe financial difficulties. Your home and auto insurance might have minimal coverage, leaving you vulnerable to any additional medical bills. An umbrella insurance policy comes with large maximum payouts, ensuring a serious accident will be covered by your policy.

Enhancing Your Insurance Policies

An umbrella insurance policy provides an additional layer of liability protection to both your home and auto insurance. It provides a thick layer of protection that can save you from having to cover excess costs after an accident. An umbrella insurance policy gives you peace of mind, knowing you’re well-protected against severe financial hardships that can occur after an accident.

Secure Your California Umbrella Insurance Policy

It is important to ensure you have adequate liability insurance. To find out more and discuss your specific needs, call Allied Brokers Insurance Agency Inc. in Palo Alto, CA.