Bundling Your South Carolina Insurance

What if we told you that we could build an insurance package specifically for you all while saving you money? It is called bundling, and we do it!

Bundling your insurance is exactly what it says. It is taking your South Carolina auto insurance and your home insurance and putting it altogether into one package with one premium. What does this mean for you? The single most important advantage of bundling your insurance is the significant discounts insurance companies will offer. It also means less paperwork as it is basically one policy which means one single payment. Bundling will also save you time as you will not have to worry about when each premium is due since there will only be one due date.

Although combining South Carolina auto insurance and South Carolina homeowners Insurance is the most popular, you do not want to leave out the RV, motorcycle, or boat which can also be included.

Are you interested in bundling your insurance? If you just want to find out what it could save you, give us a call or simply fill out the online quote request form. It is that easy! We look forward to finding out how much we can save you!

Are you thinking about Starting an Importing Business?

The idea of importing and selling products often appeals to people who enjoy traveling and would like to earn a profit from their travel. An entrepreneur in South Carolina who is contemplating starting an importing business would be wise to consult a South Carolina insurance agency, because insurance for this industry can be complex.

Importers often choose to protect their investment in their business by purchasing a business owners’ policy, a convenient insurance package providing coverage for a number of common business risks that importers face.
 
A business owners’ policy can be customized to suit the needs of an individual importing business and should cover property, business income and liability insurance. An importer is at risk of being sued by customers if a product imported by the business is found to be harmful or faulty. It’s essential for an importer to carry product liability insurance to pay for customers’ medical expenses or property repairs that arise from using a defective product: remember that quality control in the country where a product is manufactured may be less stringent than standards of quality control in the United States.

While a business owner’s policy protects an importer from the most common business risks they might encounter, an importing business may need additional insurance such as workers’ compensation or auto insurance. A local South Carolina insurance agency can work with you to identify the insurance needs of your importing business and help you to find value insurance products to protect your investment in your enterprise.  

*

Nonprofit Insurance in South Carolina

Nonprofit organizations face a unique set of risk exposures that for-profit and conventional organizations seldom have to deal with. Because of this, nonprofit organizations need specialized coverages that are unique to them. Unfortunately, this leads to questions regarding what is covered and what is not covered.

GuideStar, a nonprofit information gathering  company, posted an article labeled “Insurance Trips & Traps for Nonprofits” that we found particularly interesting and helpful for nonprofit organizations. Basically, the article states different kinds of issues in a nonprofit insurance program that organizations should be aware of. Here are a few statements that stood out from the article:

Liability Insurance:  Many times employees are listed on the policy as to who is insured, however this is not the case when it comes to volunteers. If volunteers are left uninsured by the organization they are left to depend on their own insurance if something were to happen. Insure your volunteers.

Abuse/Molestation Coverage: This part of a policy is sometimes excluded and most likely an endorsement. This part of liability insurance is especially important if your nonprofit organization includes elderly or children.

Professional Liability (Malpractice insurance or Errors & Omissions): Especially important in the health care or human service sector. Professional liability would protect the organization from legal issues.

Automobile Insurance: Basically, make sure everyone is insured, as most commercial auto policies do not include employees or volunteers. Add the coverage and also be sure to add the non-owned vehicles to the policy as well so that whether they are driving a company vehicle or their own vehicle while doing business they are fully insured.

Other things to note would be your workers compensation insurance and also your property insurance. Ask your agent a few questions: Should your volunteers have injuries while working, will they be covered under workers compensation policy or would it be better to have an accident insurance policy? Also, should there be damage to the property rented for the organization is the property insurance enough to pay for the damage?

Beacon Insurance Group specializes in non profit insurance in South Carolina and surrounding areas and is more than willing to assist you in creating an insurance program especially for you. . If you are a nonprofit organization in search of insurance options, please do not hesitate to give us a call or fill out our online quote request.

Beacon is also a proud member of the South Carolina Association of Non Profits (SCANPO) and will be attending the annual conference at the end of February.

 For more information, visit GuideStars website: www.guidestar.org

Protect your Home from Electrical Mishaps with South Carolina Home Insurance!

Are you a little hazy about some of the technical terms and abbreviations that electrical contractors use? You are not alone: most people who are not experienced in the electrical industry have difficulty understanding these terms. However, if you are about to hire an electrical contractor to undertake repair work that is covered by your South Carolina home insurance, it’s important to be clear about what your contractor’s quote means.


Image courtesy of Oklahoma City Business News

Fuses and GFCIs are both electrical safety devices, but they have different functions. A basic fuse is a wire that works to prevent excess electrical current from flowing into a device or into the electrical wiring of a building. Excess current melts the fuse wire and cuts off the flow of electricity. Fuses can prevent house fires caused by faulty and overloaded electrical circuits.

While fuses work to prevent fires, GFCI outlets are intended to prevent electric shocks. They monitor the current flowing through an electrical circuit between the two slots of the outlet, and trip the circuit and cut off the flow of electricity if they detect a leak in the current. 

Basic fuses are simple devices that self-destruct when abnormal electrical conditions (excess current) occur. GFCIs are more sophisticated devices and automatically cut off the flow of electricity when they sense abnormal conditions (an imbalance in electrical flow between two points).

Fuses and GFCI outlets are both protective devices that cut off the flow of electricity and help to prevent fire or electric shock. South Carolina home insurance also helps to protect you from the financial consequences of mishaps and accidents. Give us a call today to find the perfect policy to protect your home and family!

*

Understanding Your South Carolina Auto Insurance

Auto insurance is unavoidable, which is why it is important to understand your policy. Here are a few definitions and explanations to better your knowledge on your South Carolina Auto Insurance:   

 

  • Declarations – Contains personal facts for drivers in household: Name, address, make, model of your vehicle, vehicle identification number, policy number, and policy dates. Contains the basic type of coverage, policy limits and deductibles.
  • Coverage Parts / Insuring Agreement – Outlines coverage options and coverage limits such as liability, medical, collision, and comprehensive. The insuring agreement is the promise from the insurance company to provide in return your payment based on your coverage.
  • Exclusions – What is not covered.
  • Conditions – Explains the legal responsibilities of the insured/insurer. The conditions section includes premium payment obligations, ways to file a claim, and procedures for resolving disagreements.
  • Definitions – Also known as the “fine print.” Defines terms and outlines the rights of the policyholder and the insurance company.
  • Collision Coverage – Covers loss to your own auto by its collision with another vehicle or object .
  • Comprehensive Coverage – Covers damage to your vehicle caused by an event other than a collision or overturn. Examples could include flying objects, theft, vandalism, etc.
  • Liability – Liability coverage is the basis of your auto policy. If you are at fault in an accident, liability insurance will pay to cover injuries and property damage costs caused to other in the accident (could also include legal defense costs as well.) Bodily injury coverage pays for things like medical costs and lost salary while property damage pays for repairs to the other people’s property you damaged in the accident other than your own car.
  • Medical Payments – Pays you and your passengers for medical and funeral expenses incurred in an auto accident regardless of the fault. Also, may cover injuries sustained by you while you’re operating another person’s car.
  • Uninsured Motorists Bodily Injury – Provides the insured with money for bodily injuries that the insured would be entitles to recover from the owner or operator in the event that the owner does not carry the required liability insurance coverage.
  • Underinsured Motorists Bodily Injury – Coverage helps an insured with bodily injury damage caused by another motorist when that motorist has insufficient coverage. This coverage would pay the difference between the insureds limits and the at-fault driver’s injury limits.

If you have questions about your South Carolina Car Insurance, or would like an agent to review your insurance portfolio, please give us a call or fill out the form in our Beacon Insurance Group virtual insurance office. Our agents are highly qualified and look forward to helping you.

Strategies For Reducing Your South Carolina Home Insurance Costs

These days most people are alert for chances to save money. We’re sure you’ll be keen to learn about ways of keeping your South Carolina home insurance costs as low as possible.

One useful strategy is to take advantage of opportunities to claim insurance premium discounts.

•    Installing up to date security systems may attract discounts.

•    Senior home owners who tend to spend more time at home may be eligible for insurance discounts because they are considered to be at lower risk of theft.

•    Some insurance companies offer loyalty discounts to encourage people to stay with them.

•    Home owners who have a good claims history and are considered to be low insurance risks may be offered discounts and other incentives.

You might wish to consider other strategies for ensuring that you get the best coverage at the most affordable price.

•    Carry out annual reviews of insurance coverage for your personal possessions. You may be able to reduce the level of coverage if the market value of some of your belongings has gone down or adult children have moved out.

•    Consider increasing deductibles. Raising deductibles may reduce insurance premiums considerably, but bear in mind that this strategy will also reduce the amount paid out to you if you filed an insurance claim.

Taking advantage of discounts and other financial incentives, and adjusting the level of insurance coverage and deductibles, may help to reduce the cost of South Carolina home insurance. We will be pleased to discuss strategies for ensuring that you get the best value home insurance without compromising coverage.

 

*

Beacon Insurance Group’s Top 6 Car Buying Tips!

Are you thinking about purchasing a new car in 2012? Here are six important tips to help you get started!

#1 Determine Your Budget

Determining your budget before you head to the dealership is very important. It is recommended that you spend no more than 20 percent of your monthly household income on all costs associated with all of the cars in your household. This includes the monthly payments, insurance, repairs, maintenance, and fuel.

#2 Used Car vs. New Car

If you feel like you cannot afford a brand new car, remember that sometimes the interest rate is lower for a new car, and there are many new cars with price tags around $15,000!

#3 Research Your Choices

What are you looking for? What do you need? How often do you drive? It is important to answer these questions and use the internet before you visit the local dealership. Make sure you have a few cars in mind that you would like to test drive. You will feel a lot better about your decision in the long run.

#4 Consider the additional Costs

Remember that there are costs in purchasing a car other than the payment. Additional costs include fuel, repairs, general maintenance. When doing your research take the miles per gallon, oil changes, and new tires in consideration.

#5 Talk to your South Carolina Auto Insurance Agent

The actual cost of insurance can vary widely depending on your personal driving record as well as certain household situations such as having young drivers. Ask your agent for quotes on all the cars you are considering. Be specific in the information you give your agent as the insurance could vary widely depending on the engine size!

#6 Know the Invoice Price

It is important to know the prices of the cars you have narrowed your search to. Check some third party websites (such as Kelley Blue Book)and print the invoice. Third party websites aren’t always 100 percent correct but they do give you a price based on what you have entered and it is a good starting point for negotiation.

The most important part of the whole process is to do your research. We can help you with the South Carolina Auto Insurance part so give us a call! We look forward to saving you money and being a part of your car buying experience!

Start a Delivery Business with South Carolina Insurance

Are you thinking of opening a delivery service business in South Carolina? Unless you are familiar with the complex world of insurance, you may need to talk to a South Carolina insurance agency about the insurance needs of your new business.

Business insurance can protect you from the financial consequences of different business risks. A business owner’s policy may provide coverage for a number of business risks and can be tailored to suit the needs of an individual business operation.

A delivery business could require coverage for losses because of damage to or destruction of business assets or employee dishonesty. A delivery business also needs to carry liability insurance. Premises liability coverage may provide protection from an accident occurring on your business property, such as a customer suffering injury while visiting your business location or a customer’s property being damaged. Completed operations coverage can potentially protect you if the delivery services you provide cause a customer to suffer, for example a parcel that has to meet an urgent deadline is delivered late and causes the customer to suffer a business loss.

A well-run delivery business in South Carolina could earn a good income for an entrepreneur who is prepared to invest capital in starting up the business and work hard to provide outstanding services to customers. Talk to your South Carolina insurance agency to reduce the risk of the hard-earned profits of your delivery business being threatened by unplanned expenses. 

 

*

The New Year & Your South Carolina Insurance

Beacon Insurance Group would like to wish you and your family a Happy New Year! After putting a fantastic 2011 behind us, we are looking forward to an even better 2012!

Did you make a new year’s resolution? Does your new year’s resolution have anything to do with your personal finances?

Insurance is a large part of your finances, and we want to make sure you are properly insured and not wasting any of your hard earned money. We recommend you set up a meeting with your agent to review your policies, discuss your coverage, and any other specific questions you may have about your South Carolina Insurance.

Let us help you make 2012 a year to remember, give us a call today! 877-321-8037