Author: AgentInsure

How Much Contractor’s Insurance Do You Really Need?

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Business insurance, specifically contractors insurance are likely terms you do not want to think much about as you run your company each day. But careful consideration can mean that once you do purchase the perfectly suited policy you do not have to think about it again until the day comes when you actually need it. Advantage Insurance Network serves the contracting businesses of Cincinnati, OH and the surrounding areas with quality insurance services.

Who Needs Contractor’s Insurance? 

Contractor’s insurance may also be referred to as small business insurance and anyone in businesses such as HVAC, General Contracting, Plumbing, Handyman, Electrician, Tile, Outdoor Excavations, Landscaping, Interior or Exterior Painting, or the like should protect themselves with a small business insurance policy specific to their contractor needs. 

How much contractor’s insurance is needed? 

A basic general liability policy is needed for any business owner who has an employee in the state of Ohio. Your policy will start with this general requirement and build from there to meet your companies specific needs. How much you need exactly is determined by your personal risk levels and how much you stand to lose if certain events occur. If you use vehicles in the process of running your business then you need a commercial auto policy as well. And you must carry a minimum level of Ohio worker’s compensation in case one of your employees is injured on the job, even if you only have one employee. Beyond that, you may want to add certain elements like flood insurance for your building and umbrella insurance for unique risks in your line of work. We will be happy to answer any questions you may have about this. 

If you run any type of contracting business in the Cincinnati, OH area contact us at Advantage Insurance Network to learn about the specifics of your individual insurance needs. Contractors’ insurance needs can vary as greatly as types of contractors there are. Call us today for easy to purchase contractors insurance in Ohio. 

What You Should Know About Condo Insurance in Cincinnati

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Property owners may choose condos for any number of reasons. Maybe they don’t want to be responsible for yard upkeep or maybe they just don’t need all the extra space that a home could bring. Maybe they want to rent out the property to generate a secured monthly income. But whatever the reason it is that you chose a condo in Cincinnati, OH, you’ll want to look into how condo insurance works for your property and how it can work for you. 

Building Coverage Vs. Condo Coverage 

When you own a condo, you don’t usually own the larger building. So if your condo association has its own coverage, you may assume that you don’t really need condo insurance at all. But the insurance policy owned by the complex may only cover the structure, common areas, and general liability. So if someone breaks into the lobby and steals the TV, their insurance policy will pay for it. But if someone breaks into your condo and steals your TV, you won’t get that same luxury.  

How to Make It Work for You 

Condo insurance will cover not only your things but also events in which you may be deemed liable for the damages. If a guest comes over and trips on an unsecured part of the rug, you could be responsible for paying all of their medical costs. It’s a responsible way to keep not just your things protected from storms, criminals, and fire, but it’s also a good way to avoid potentially costly lawsuits. 

Call Advantage Insurance Network 

If you want to learn more about the policies available in Cincinnati, OH, contact Advantage Insurance Network today. We’re here to help you understand which options are best for your needs and property. 

The Four Main Types of Health Insurance

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Everyone needs health insurance. That’s as true in Cincinnati, OH, as anywhere else in the country. When you’re looking around at health insurance options, you’ll find four different types of plans are very common. Here is the Advantage Insurance Network breakdown of the main types of health insurance.

PPO

A Preferred Provider Organization plan is the most common type of insurance. It’s likely what you get through an employer. The insurance company will have a network of preferred providers, and when you get care from providers on that list, your copays are typically lower. 

HMO

A Health Maintenance Organization plan is similar to a PPO, but the network is more important. Providers in the HMO network have exclusive contracts with that network, and that makes out-of-network care more expensive with these plans than most PPOs. 

HSA

A Health Savings Account is a different approach to health insurance. Essentially, you put money into a special account. That money is tax-free, and you can draw on it to pay for medical expenses. Restrictions may be applied to how many can be put into and taken out of the account, and they will vary with the plan. HSAs typically are used in conjunction with another type of insurance to provide more robust coverage.

Indemnity

Indemnity plans are the most generalized. Basically, you see who you want and get the health care you want from whichever providers you choose. The insurance company will pay a pre-arranged portion of the total charges. Because indemnity plans are less constricting, they tend to have higher out-of-pocket costs.

When you’re looking for the right health insurance plan in Cincinnati, OH, Advantage Insurance Network can help you browse your options and make informed choices.

Who Needs Dwelling Fire Insurance?

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Though dwelling fire insurance is often compared to class home insurance, these types of policies are different. Dwelling fire insurance is coverage for properties that are not considered the owners’ primary residence. Besides fire, it also covers hail, lightning, wind, vandalism, and other losses. In order to understand this type of insurance better, you need to know who dwelling fire insurance is for:

  • Owners of vacation properties

 If you have a secondary residence where you do not keep all your expensive and precious possessions, then it makes sense to get dwelling fire insurance for this property instead of traditional home coverage. 

  • Rental properties owners

Whether you have the second house that you rent to someone else, or you are an owner of 30 other rental properties throughout the country, dwelling fire insurance is what your tenants need. This policy will still protect the property itself without the contents inside it. In order to protect their own possessions, tenants will have to carry rental insurance. 

  • Homeowners who are not qualified for home insurance

 If a homeowner has a low credit score, or the property is in poor condition and has past claims, then classic home insurance might be unavailable. In this case, the best option will be to get Owner Occupied Dwelling Fire Insurance. 

Whether you are looking for insurance for your vacation house or rental property, Advantage Insurance Network serving Cincinnati, OH is dedicated to assisting you in your search. The mission of trusting and experienced agents of Advantage Insurance Network is to find the best rates for you based on your budget and needs. If you are a property owner from Cincinnati, OH, do not hesitate to give us a call today for more information. 

What’s Covered by Flood Insurance in Ohio?

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Ohio is no stranger to natural disasters. During the course of the year, Ohio homeowners may face such threats as wildfires, severe storms, tornadoes, and flooding. Floods can occur almost anywhere in the state, including Cincinnati Flood insurance from Advantage Insurance Network can compensate you for a flood loss. Here’s what you should know about flood coverage.

What Flood Insurance Covers

Flood insurance offers two-fold coverage for your home: protection for your home structure and protection for your contents.  

Structural coverage protects your home structure to include its foundation, walls, wall-to-wall carpeting, electrical system, plumbing system, and built-in appliances. You can purchase this coverage for up to $250,000.

Contents coverage protects your belongings – your clothes, electronics, minor appliances, furniture, sports gear, paintings, etc. for up to $100,000.

What Flood Insurance Doesn’t Cover

Items such as cash, stocks, and bonds and precious metals are not covered by flood insurance and should be kept in a location safe from flooding. Property located outside your home such as grills, patio furniture, landscaping, pools and pool decks, and hot tubs are also exempt from flood insurance coverage.   

Who Needs Flood Coverage

Many homeowners are under the misconception that floods only occur in high-risk flood zone areas. Contrary to popular belief,  floods can occur almost anywhere. A substantial amount of rain can cause rivers or dams to overflow, causing flooding in Cincinnati, OH and other inland areas.

It only takes a few inches of floodwater to devastate a home. As home insurance doesn’t cover flood damage, lack of flood insurance protection could lead to financial ruin. Knowing the extensive damage that floods can cause should prompt you to add flood coverage to your home’s insurance package.

To purchase flood insurance for your Cincinnati, OH home, contact an agent from Advantage Insurance Network.

Do I need workers comp insurance in Ohio?

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For anyone that wants to start a small company, coming to the Cincinnati, OH area can be a great option. This is a great place to start a company as it has a large population and good economic benefits. When starting a company here, you are going to need many forms of insurance to provide protection. One important form of insurance to obtain is worker’s compensation insurance. There are a variety of reasons why getting worker’s compensation insurance is important. 

Required by Law

One of the primary reasons why you need to have workers comp insurance in Ohio is because it can be required by law. Depending on the type and size of your company, you may be required by state law to carry this form of coverage. If you do not have it, you could face a variety of penalties, which could include losing your right to operate your business.

Provides Valued Coverage

Even if worker’s comp insurance was not required for your company, you should still consider getting it. The workers’ compensation insurance will provide coverage to an employee if they are hurt while working for you. Ultimately, this makes it a great form of insurance coverage and benefit for your employee, but it also helps to reduce your business’s liability risk as employee injuries will be covered by this insurance. 

If you want to start a business in the Cincinnati, OH area, it is very important that you know all of your insurance obligations. For those that are looking for insurance, the team at Advantage Insurance Network can be a great resource. When you call the Advantage Insurance Network, you can receive the advice and support you need to choose any type of insurance for your company, including worker’s comp coverage. 

What are the benefits of toy insurance in Ohio?

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If you live in the Cincinnati, OH area, there are plenty of great areas where you can use a recreational toy. When you own a recreational toy, it will give you plenty of fun and exciting memories. While one of these recreational toys will be a lot of fun to own, you also need to remember that it’s a valuable asset. You can benefit in several ways by getting insurance on your recreational toy in this area.

Receive Liability Protection

One of the advantages of getting a toy insurance policy is that you can receive liability coverage. Any time you take out your recreational toy, you could cause an accident that leads to damages. If this does occur, you will be required to pay for these damages. When you have a toy insurance policy, you will receive the coverage that you need to protect you against this liability risk.

Covers the Asset

Another benefit of your toy insurance policy is that it will protect your asset. When you purchase a recreational toy, you are going to be spending a lot of money on a big investment. To ensure that you are properly protected, you should get an insurance policy that will give coverage to repair or replace your asset. 

When you are in need of a toy insurance policy in the Cincinnati, OH area, it is important to reach out to someone that you can trust. The team at Advantage Insurance Network can be a great resource for you to utilize. When you reach out to Advantage Insurance Network, the team will evaluate your situation to determine whether a recreational toy insurance policy is right for you. They can then help you to get into a new policy that provides the right type and level of coverage to protect you and the toy. 

How does commercial insurance protect my small business?

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While it comes with many innumerable benefits, starting a business means exposing yourself to all manner of risks. A small business is also vulnerable to accidents and perils that can possibly wipe it out before it has the chance to sprout. Fortunately, commercial insurance can help take care of your small business so that you can only worry about critical matters like customer attraction & retention and hiring.

Advantage Insurance Network can help you find a policy customized just for you. If you intend to start a small business in or around Cincinnati, OH, here are three major coverages that can help protect your small business.

General liability insurance 

Also known as commercial general liability insurance, liability coverage helps pay for injuries that a visitor or customer can sustain while at your business. It can also be used to pay legal fees in case you are sued and are found to be at fault.

Business property coverage

Like home insurance, property coverage helps protect the business premises and all its contents against the covered perils. Common perils like theft and fire are always on the list of most commonly covered accidents. Your insurance provider will either replace or repair the property based on the damage. You can choose your coverage limit based on the estimated repair or replacement cost.

Business interruption

Also known as business income coverage, business interruption coverage is essential in reimbursing extra expenses and lost income when your business gets interrupted by a peril. For instance, if your business catches fire and burns down completely, business interruption coverage will come in to pay for a temporary office, rent costs, and any other expense that may surface as a result of the peril.

Whether big or small, businesses need to have some form of protection. This will give you some peace of mind and help you focus on what matters to you most. To learn more about commercial insurance, visit Advantage Insurance Network in Cincinnati, OH today!

What Are “Living Benefits?”

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The simplest way to explain life benefits may be as follows: Where death benefits payout at the time of the policy holder’s passing, living benefits can be claimed while the policyholder is still living.

Living benefits come from the cash value of a life insurance policy if you are buying cash value life insurance. If you call Advantage Insurance Network and ask for a cash benefit policy, you will be paying a higher premium, but you will also be able to reap a number of benefits, owing to the cash value that you are building in your policy.

Examples of Living Benefits

  • Loans

You can borrow against your cash value in your policy. This means that if you want to put a down payment on a house or buy a new car, you have options available to you.

  • College savings

For most policyholders, this means sending the kids off to the college of their choice.

  • Tax deferment

The cash value that you build up in your policy is tax-deferred, meaning that you won’t pay any taxes on that money until you are ready to withdraw it.

For some policyholders in Cincinnati, OH, a cash value policy may be unnecessary. If you already have savings and don’t feel the need to put any cash value into your life insurance policy, you may simply want to go for a more streamlined policy that will pay out death benefits to your loved ones.

In either event, if you want to ensure that you and your family have the coverage that you need, give Advantage Insurance Network a call or send them a message and see what they can do for you.

3 Ways to Maintain Your Home’s Value

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When most people think of their home, they think of their family. You should also think of it as an investment. Maintaining your home’s value is important and should be one of your biggest concerns when it comes to home insurance. In Cincinnati, OH, the agents of Advantage Insurance Network understand that many homeowners put their life savings into their property.  There are several things you can do to help your home maintain its overall value.

Maintain Your Yard

Keep your yard looking nice. This adds to your home’s "curb appeal" and also reduces the risk of injury to anyone who may come onto your property. Keep your grass at a convenient height, remove any weeds or debris, and keep your landscaping looking its best at all times.

Keep Up on Home Maintenance and Repairs

Keep up on all of your home maintenance and repairs. This includes changing your furnace filters and inspecting your home on a regular basis. Check your roof to ensure there are no loose shingles. Repair any cracks to your sidewalks or cement patio. If you see something that needs to be fixed, make the repairs as soon as possible. 

Add a Privacy Fence

Putting up a privacy fence is a great way to keep your home looking its best and also to protect your family and property from unwanted intruders.

The agents of Advantage Insurance Network offer residents who live in the Cincinnati, OH area sound advice when it comes to keeping their property well maintained. They can offer several recommendations on how you can help your home maintain its value through the years. Call and request the information you’re looking for today!