Is Flood Insurance Worth Getting in Pismo Beach, CA?

Pismo Beach, CA is surrounded by water, meaning lot’s of fun at the beach but also the risk of flooding. It is not unknown for storms or rising water levels to occur, which can possibly cause flood damage in certain areas. This is why flood insurance can be useful in this particular beach town. If you are shopping around for a private flood insurance option, Neff & Associates Insurance Services Inc is worth checking out.

Although Homeowner’s insurance can be quite extensive, it is not typical that your insurance company will include flood damage. There are so many people that assume that floods are included, which may be why so few disaster victims bother to purchase insurance.

Flood insurance will basically cover damaged caused by the over-accumulation of water. Water that comes in through a sunroof or window is not considered flood damage according to most policies.

The government provided insurance program may be sufficient for some households, but there are limitations. There is currently a maximum of $250,000 that the NFIP will cover damages done to your home. You may also claim personal possessions up to $100,000. If you think that your property is worth much more than that, you may want to consider the purchase of a private option.

What your plan may cover:

  •     Electrical damage
  •     Plumbing damage
  •     Appliances and electronics
  •     Cabinets and fixtures
  •     Carpet
  •     The cost of debris removal
  •     HVAC equipment

If you are in the Pismo Beach, CA area, it is definitely worth considering the purchase of a flood insurance policy. The tidal waters alone put you at risk of flooding and many mortgage lenders may require the purchase of flood insurance. If you are in the market for some affordable insurance, consider consulting with Neff & Associates Insurance Services Inc.

Is Commercial Insurance Mandatory?

Commercial insurance protects your California business from any financial loss that may result from claims of damage or injury caused to others by you or your workers. It’s important to note that this policy is not mandatory for the businesses that operate in California. However, the state doesn’t put a cap on liability law rewards. Moreover, the state courts tend to award large liability judgments. This means that entrepreneurs who own property as well other valuable assets should be wise enough to invest in commercial liability coverage plans to minimize exposure to risks. Companies in Pismo Beach, CA like Neff & Associates Insurance Services Inc. can help you get the required plan.

Is there a set limit for the commercial liability insurance a business should carry?

Each situation is usually unique, but there is a general insurance guideline. The kind of business you run or the products you manufacture can determine how much coverage you require. Your insurance company should help you assess your risks and recommend the minimum coverage for your company. If you know you operate a high-risk business, consider increasing the coverage limits. Remember that if your business is operated from home, the renter’s or homeowner’s insurance will provide a limited coverage on business losses and liability.

Several factors are considered when setting the California commercial insurance premiums. Some include the type of product or service you sell, the number of years you’ve been in business, the total number of employees you have, and your claims history.

Mandatory insurance to consider

California requires every business to carry a worker’s compensation plan as long as there are employees. Business owners are required to offer disability insurance for covering casual wage for an eligible employee in case of a non-work related injury or sickness.

California also requires all company drivers to carry minimum car insurance. In case your truck or car is used for business, it’s recommended that you buy a commercial vehicle policy.

Feel free to contact Neff & Associates Insurance Services Inc in Pismo Beach, CA for more information about commercial insurance or for a quote.