Archive business

Insurance for Your New Business

Protect your company with the right commercial coverage.

As a new business owner, you know how much you have invested to get your company off the ground. This is why it’s so important that you protect your business with the right insurance. Not sure where to begin when it comes to your business insurance in La Canada, California? Then here’s what you need to know about insuring your new business.
Why You Need Coverage

First, it’s important to understand why you need to secure insurance for your business. In the simplest terms, business insurance is designed to protect both your commercial and personal assets. Your commercial coverage offers financial protection in the event that your business sustains damage or is on the receiving end of a liability claim. Your coverage can help you pay for repair costs, compensation expenses, legal fees, and so on. Without the right commercial insurance in place, you would have to cover the full cost of business damages or liability issues out of your own pocket. This, in turn, could compromise your business’s revenue and even your personal savings. This is why it’s so important to have the financial protection that only commercial insurance can offer.
When Should I Secure Coverage?

Business owners should secure commercial coverage as soon as they launch their companies. This is because your company opens itself up for risk as soon as it opens its doors. You should secure commercial coverage even if you are operating out of your own home. This is because your homeowners insurance will not provide coverage for business-related inventory, equipment, supplies, or liability events. The only way to protect your fledgling business is with the right commercial coverage.
Which Policies Do I Need?

With all the coverage options out there, it can be difficult to determine which policies are right for you. Some of the most basic and essential forms of commercial coverage include the following:
• General liability
• Commercial property
• Workers compensation
• Professional liability
• Product liability
• Cyber liability
• Commercial auto
This is what new business owners need to know about insuring their companies. Do you have additional questions about your business insurance in La Canada, California? If so, then contact the experts at Knight Insurance Agency. Our dedicated team is eager to assist you with all your coverage needs today.

Archive homeowners

Home Safety Upgrades That Lower Insurance Rates

Unlock home insurance discounts by making these upgrades to your property.

No one wants to pay more for their homeowners insurance than they have to. Fortunately, there are several ways that you can save on your coverage. For instance, you can unlock home insurance discounts by making safety upgrades to your property. Here are some of the money-saving upgrades that you should consider.
Upgrade Your Smoke Detectors
Over 90% of homes across the U.S. already have smoke detectors installed because they are an essential safety feature that warns occupants that a fire has broken out. Because smoke detectors are required by law in many places throughout the country, simply having one in your home will not necessarily unlock insurance savings. However, if you go the extra mile, then your home insurance provider may take notice. For instance, by installing smoke detectors on every floor and in every room of your home, you can increase the effectiveness of your home’s fire warning system. Additionally, you can score points with your insurance provider by connecting all your alarms, so they all go off when one detector is activated.
Install a Water Safety System
Water safety systems, also known as fire sprinklers, are a great option for homeowners who want to protect against their fire risks. These systems respond to fires inside the home and quickly release water or other flame retardants to contain the damage caused by heat, smoke, and flames. Having a water safety system can save your home for total ruin, especially if your local fire station is slow to respond or is located far away. Oftentimes, home insurance providers will issue discounts to homeowners who install these safety systems.
Secure Your Home with Deadbolts
Having deadbolts installed on all your home’s points of entry is a great way to slow down even the savviest of home invaders. This is why many home insurers offer discounts to homeowners who install deadbolts. However, the types of deadbolts that you choose does matter. When selecting deadbolts for your home, look for options that are labeled Grade 1 or Grade 2. Avoid Grade 3 deadbolts as they are the weakest. When installing deadbolts, make sure they extend at least an inch into the door jam and have a reinforced strike plate with three-inch-long screws. These factors will make it much harder for an intruder to kick in your doors and ransack your home.
These are some of the security upgrades that you should make to unlock home insurance discounts. Do you have additional questions about your homeowners insurance? If so, then contact the experts at Knight Insurance Agency. We are ready to assist you with all your coverage needs today.

Archive auto

Do I Get Removed from My Parents’ Auto Insurance at a Certain Age?

Is there an age limit on auto insurance policies?
When you first learned to drive, your parents probably added you to their auto policy because it was the easiest and cheapest option. However, now that you are getting older and branching off on your own, you may be wondering how long you can remain covered on their policy. To ensure that you have comprehensive auto insurance in La Canada, CA, here’s what children should know about being covered don their parents’ policy.
• No Age Limits
Unlike health insurance, which has an age limit of 26, children do not automatically lose their parents’ auto insurance coverage when they reach a certain age. This means that, as long as children meet the appropriate requirements, they can remain on their parents’ car insurance policy indefinitely.
• Residency Requirements
Where you live is the most important factor for auto insurance companies who cover multiple drivers on the same policy. Usually, car insurers will allow parents and children to remain on the same policy as long as they all reside at the same address. Once you officially move out of your parents’ home, you are legally required to secure your own auto insurance policy. Prior to your move, make sure you secure your own policy and inform your parents’ auto insurance provider so they can remove you from their coverage. Please note that attempting to remain on your parents’ policy by lying about your address is an act of fraud. Should the insurance company find out about this, then you risk being denied claims coverage and having the policy canceled altogether. So, if you do not want to affect your parents’ coverage, then be upfront about your changing living situation.
• Exceptions to the Residency Rule
There are some exceptions to the residency rule. For instance, if you are leaving home to attend college, then you can still remain on your parents’ policy. This is because your parents’ home is still probably your primary residence. The other exception to this rule is children of divorced parents. If your parents are divorced, you can still be listed on one parent’s auto policy, even if you only live there part-time.
This is what you need to know about remaining on your parents’ car insurance policy. Do you have additional questions about your auto insurance in La Canada, CA? If so, then contact the experts at Knight Insurance Services. We are ready to assist you with all your coverage needs today.

Archive homeowners

Important Insurance Terms for New Homeowners

Basic homeowners insurance terms for first-time buyers.
If you are closing on your first home, then it’s probably also your first time shopping for homeowners insurance in La Canada, CA. While securing the right home insurance sounds simple enough, finding the right coverage can become complicated when you don’t understand what type of coverage you may need to protect your investment. To help you make a more informed decision, here are some basic home insurance coverage terms that you should know.
Deductible is the portion of loss that you are covering towards a covered claim before your insurance coverage kicks in. Our suggestion is to choose a deductible that you know you will be comfortable to pay in case of a claim, without putting a financial burden on your family. Deductibles may range anywhere between $500 to $25,000. Typically, assuming a higher deductible means lower insurance premium, because you are assuming more responsibility for claims.
Your homeowners insurance policy is made up of several different types of coverage. One of the main types of coverage included in your policy is liability. Liability coverage protects you and your family from legal claims that arise due to the following:
• Third-party injuries that take place on your property
• Third-party property damage that takes place on your property
• Injuries that you or a family member accidentally cause off-property
• Property damage that you or a family member accidentally cause off-property
• Pet-related injuries or damages (assuming that your insurance provider offers coverage for your pet’s breed)
Liability insurance will cover the medical and compensation costs of affected parties. This type of insurance will also cover the cost of your legal defense fees, settlement fees and more should the affected parties decide to sue.
Dwelling protection is one of the main coverages included in home insurance policies. This portion of your policy offers coverage for the physical structure of your home and all the components that are attached to the home. This includes things like flooring, cabinetry, fireplaces, attached garages, deck, and so on. Your dwelling protection will help you pay to repair the damages your home sustains during a covered peril, such as a fire, wind, water damage, theft/burglary, and so on.
Other Structures
This refers to the coverage you have for structures on your property that are not directly attached to your home. For instance, other structures can refer to things like a detached guest house, fences, carports, sheds, swimming pools and so on. Other structures protection will usually offer coverage up to 10% of your total dwelling protection (it varies depending on a carrier). So, if your policy offers $250,000 in dwelling coverage, then you will have $25,000 of other structures protection.
Actual Cash Value (ACV)
This refers to the actual value of lost or damaged property at the time of the loss or damage event. This amount takes an item’s depreciation into account.
Replacement Cost
This refers to the cost of replacing damaged or lost property at the current market value, without taking depreciation into account.
Extended Dwelling Replacement
An Extended Replacement Cost policy will pay up to a specified percentage over an insured’s policy limit in order to fully replace a damaged home. This percentage is often shown as 125%, 150% or 200% of the stated limit of Dwelling coverage.
Additional Living Expenses
Additional living expenses are one of the main types of coverage included in your homeowners insurance policy. If your home is made uninhabitable due to a covered peril, then this coverage will help you cover the cost of temporarily living elsewhere. This coverage will help you pay for things such as hotel stays, temporary apartment/home rentals, restaurant bills, clothing, pet boarding, and so on.
Insurance Adjuster
An adjuster is a representative of your insurance company who will handle claims. If you call to report a claim, then your adjuster will come out to your home, assess the damage or situation, and then file and payout your claim.
Personal Umbrella Policy
A personal umbrella policy, provides excess liability coverage to help protect you from large and potentially devastating liability claims or judgments. The coverage offered by umbrella policies extend past the coverage limits of your homeowners or personal auto insurance policy. Coverage ensures that you do not have to pay out of pocket for particularly expensive liability claims that exceed primary liability limit of your home or auto policy.
While there are many other home insurance-specific terms that you may be unfamiliar with, these are some of the ones that you are most likely to encounter. However, there are many other important areas need proper coverage, such as naming family trust as an additional insured, scheduling jewelry/fine arts and so forth. Do you need more help with your homeowners insurance in La Canada, CA? If so, then contact the experts at Knight Insurance Services. We are ready to assist you with all your insurance needs today.