Who Needs Umbrella Insurance in Ponte Vedra Beach, FL?

Having bought various insurance coverages like auto insurance, life insurance, and homeowners’ insurance, you would ask whether umbrella insurance is worth investing in. Well, beyond these standard insurance policies, umbrella insurance is an essential type of insurance that has been overlooked as it extends beyond the limits of your other policies. 

What is this umbrella insurance, what does it entail, and who needs it? Well, Palm valley Insurance Inc. understands your concerns and your questions. Would you please stick on as we tell you all that you need to know? 

What is umbrella insurance?

It’s the extra liability insurance that takes over when your conventional liability insurance coverages are exhausted. Umbrella insurance rides on other coverages like auto, home, and boat insurance to increase your liability protection. 

Who needs umbrella insurance?

The answer is everyone earning a livelihood. Since we live in a litigious society, everyone faces the danger of being sued. Below are examples of people that need umbrella insurance.  

If you have assets 

Let’s take a scenario where you are at fault for an accident, and lots of people got injured and property damaged. It could cost you thousands of dollars, and maybe your liability coverage on your auto insurance cannot cover all the damages. It means you pay the rest of the cash. 

If you don’t have the money, they come after your assets like your house, investment accounts, car, and so on. With this in mind, umbrella insurance comes in handy in protecting your assets.

Examples of other people that need umbrella insurance because of their likelihood of being sued include: 

  • If you own a business
  • If you coach youth or kids sports
  • If you have a risky hobby like hunting
  • If you own a dangerous pet like some breeds of dogs

Umbrella insurance in Ponte Vedra Beach, FL

If you want to safeguard your family, assets, and yourself, umbrella insurance is a no-brainer. Besides providing the highest coverage limits, it’s also affordable. Ready to purchase your umbrella insurance in Ponte Vedra Beach, FL? Talk to us at Palm Valley Insurance Inc. for an affordable quote.

State of Florida Employees Life Insurance Explained

Life insurance is a necessity for your family to survive after you pass away. There are several different types and calculations that need to be made in order to secure enough for your family. At Palm Valley Insurance Inc. our knowledgeable agents can help you determine just how much life insurance is needed for your family.

State of Florida Insurance

If you are a full-time employee of the state of Florida, you are entitled to a small insurance policy at no cost to you. In Ponte Vedra Beach, FL employees receive a basic group term life insurance policy with a benefit of $25,000. The average cost of a funeral in a small setting starts at $10,000 and goes up from there. This would not leave much money to take care of your family afterward.

Getting Additional Life Insurance Coverage

You can secure other types of insurance for your family including dependent spouse coverage and child term life insurance as well. You can also add additional coverage for yourself to help your family survive financially when you are gone.

Determining How Much Life Insurance to Get

There are many different variables in the determination of how much life insurance you really need for protection and it’s usually best to secure more than what you think you need because the cost of living expenses rises each year. This will ensure that you don’t need to review your coverage amount every few years and secure more insurance.

The short version for life insurance calculations includes the most basic way of this determination. You should calculate all of your obligations and add them together. This can include other types of insurance, such as auto and home, as well as funeral expenses, student loans, car loans, home loans, and any credit card payments.

Your next calculation is to determine how much your family will need in the case of an unexpected death. You add up your yearly income and multiply it by the number of years your family will need it. Also, add in tuition costs for the children, any retirement savings, and your work insurance policy.

Then you add your obligations to the amount your family will need and subtract it from your spouse’s income to estimate your coverage needed.

At Palm Valley Insurance Inc. we service the Ponte Vedra Beach, FL area and we are here to help you make these determinations for your family’s well-being.

Auto Insurance: Beyond Minimum Coverage

Just like maintenance is vital to your vehicle, so is auto insurance. Car insurance protects you and your car when the unthinkable strikes. But how much auto insurance do you need? Aren’t the state-required coverages adequate? If you have such questions lingering in your mind, Palm Valley Insurance Inc. of Ponte Vedra Beach, FL, is here to clear the air. But first, let’s explore the state-required auto insurance coverage in Florida. 

What is the minimum required auto insurance in Florida?

Like most states, auto insurance is mandatory in Florida, and drivers are required to include the below minimum coverages in their auto insurance:

  • Personal injury protection (PIP): Before you register your car, you are required to purchase PIP coverage with a minimum of $10,000. PIP coverage pays for 80% of necessary medical expenses, regardless of who was at fault for the accident. 
  • Property damage liability (PDL): Protects you against damages you cause to other people. The minimum required amount is $10,000. 

Failure to comply with the minimum required auto insurance results in suspension of driving privileges and a reinstatement fee of up to $500.

Is the state-required coverage adequate?

While adhering to the auto insurance requirements by the state is pivotal, most car owners explore other auto insurance coverages for optimal protection. You see, the state-required minimums don’t cover your vehicle following an accident. Additionally, mandatory car insurance doesn’t provide other coverages like engine protection and roadside emergency coverage that suits your unique needs. 

For these reasons, drivers should purchase auto insurance that is beyond the state-required auto insurance. If unsure of the amount of insurance you need to carry, please talk to your insurance agent for advice.

Buy auto insurance today!

Are you shopping for auto insurance in Ponte Vedra Beach, FL? Please look no further than Palm Valley Insurance Inc. Contact us today, and we will help you buy coverage that suits your budget and driving style. 

What could happen if I do not have home insurance in Florida?

Anyone that is looking for a new place to live should consider Ponte Vedra Beach, FL. This part of Florida offers warm weather and a lot of great recreational amenities. As you are looking to buy a home, you need to ensure that you have proper insurance. If you do not have the right coverage, you could be disadvantaged in a few ways. 

No Protection for Significant Damage

One of the risks that you take on if you do not have home insurance is that you will not have protection for significant damage. If your home is damaged by a fire, bad weather, or even vandalism, the cost to repair your home can be quite significant. If you do not have a home insurance plan in place, you will have to cover these repairs out of pocket, which is not possible for many property owners.

Violation of Agreements

If you do not carry a home insurance plan, you could also be in violation of various agreements. It is very common for someone to take out a mortgage or live in a home association. If either of these situations applies to you, the agreements you sign will likely that you maintain home insurance at all times. If you do not maintain this coverage, you should find yourself in violation and face various penalties. 

A Ponte Vedra Beach, FL resident would clearly benefit from having a home insurance plan at all times. If you are looking to insure your home, it would be helpful for you to speak with Palm Valley Insurance Inc. There are a lot of choices that need to be made when you are looking for home insurance and Palm Valley Insurance Inc. can offer the support you need to pick an ideal plan. 

Three Reasons You Should Have Renters Insurance

About 35% of Americans live in rental units. This statistic alone is proof that renters insurance is needed. However, only a small percentage of this population has this insurance coverage. 

Even if you think your space is safe, there are many things beyond your control that can happen. It’s, therefore, essential to secure your belongings from the unexpected. 

Renters insurance protects you financially from the loss or damage to your belongings. However, the coverage you get depends on the value of your belongings and the kind of rented property.

To purchase renters insurance in Ponte Vedra Beach, FL, Palm Valley Insurance Inc. will help you get the most convenient insurance quotes. 

But first, let’s look at a few reasons why you need renters insurance.

1. Protect Guests

Do you own pets? Imagine your pet accidentally bites a guest inside your space. You are liable!

You might have to pay for all the costs related to the injury from your pocket. And it is not a pleasant experience.

For such reasons, you need renters insurance to protect you against injuries that may happen within your rented space. 

2. Repair and Replacement of Personal Items

You most likely have jewelry, electronics, clothes, and appliances in your rented space. What would you do if all these were stolen from you? Are you ready to spend several tens of thousands from your pocket to replace everything? 

Renters insurance covers you financially if you lose your belongings due to theft or burglary. Your insurer will pay you to replace the lost items. 

3. Fire Damage

Fires in rental property are not a new thing. If there’s an electrical problem inside your rented space, the homeowner’s insurance might not cover you in case of a fire. It will only apply if it’s proven the fire resulted from the landlord’s negligence. 

If the negligence is on you, you’re liable for the losses and damages. If you’ve renters insurance, all the expenses will be paid for by the insurer. 

Buy Renters Insurance Today

You never know what could happen the next minute. And being caught unprepared is the worst that can happen to you. Prepare in advance for any event by purchasing renters insurance.

For renters in Ponte Vedra Beach, FL, contact Palm Valley Insurance Inc. for more information about renters insurance.

How much motorcycle insurance do I need?

How much motorcycle insurance do I need?

Nothing beats the thrilling experience of riding a motorcycle. However, with the fun comes risks and responsibilities. The Ponte Vedra Beach, FL law requires all motorists to have a form of financial responsibility in case of accidents on the roads. Motorcycle insurance enables you to ride your bike on public roads, and it pays for injuries and property damage in the event of an accident. So how much insurance do you need? Here is a breakdown to help you assess your motorcycle insurance needs.

Property liability and bodily injury liability

You need to increase or double your liability coverage if you use your motorbike often. Chances of getting sued for damages or injuries on other parties are higher when using a motorcycle than using a car. At Palm Valley Insurance Inc, we recommend assessing how you use your bike to determine your risk level. Property damage and bodily injury liability are essential coverages for any road user.

Personal injury protection or medical payments

You are more likely to get injured on a motorcycle than a car as there isn’t much protection apart from what you are wearing. So you really want to make sure that you have enough medical payments to cover your medical bills.

Uninsured and underinsured motorist

If you get into an accident with an uninsured motorist, how will you get compensated? The other party may not have enough money to pay for your urgent medical bills or your damaged motorbike. You need to have enough uninsured/underinsured motorist coverage to protect you in case of such an accident.

Comprehensive and Collision

While they’re optional, comprehensive and, collision coverages are essential coverages as they protect your motorcycle. Know the value of your motorbike and buy equal amounts of coverage in case your bike is damaged beyond repair; your insurer can replace it for you.

Need motorcycle insurance in Ponte Vedra Beach, FL? Our trusted insurance agents at Palm Valley Insurance inc can help you find a policy that matches your needs, style, and budget. Contact us for unbeatable deals.

The advantages bundling your auto and home insurance policies

The advantages of bundling your auto and home insurance policies

Insurance policies play a massive role in streamlining your finances, particularly when you bundle home and auto insurance policies. The Ponte Vedra Beach, FL insurance market can be quite overwhelming if you have not done your homework well. That’s why Palm Valley Insurance Inc. recommends bundling your policies to make your insurance journey easier. So what are the advantages of bundling home and auto insurance?

You save money

The main and most common reason why many people opt to bundle their insurance policies is to save as much as possible from all the policies. Buying separate policies is costly and time-consuming. Most insurance companies will offer discounts when you bundle your homeowner and automobile insurance policies. For instance, if you own several cars, you stand a better chance of getting good rates when you bundle your policies. You may need to enquire about the discounts before signing any papers as the amount varies from one provider to another.

It’s convenient

Bundling your policies makes things easier to manage, stay up to date and make changes. It also reduces paperwork when applying, which saves time and headaches. What’s even better? You will only be dealing with the same insurance company, making it easier to remove, add or amend coverages.

You build a lasting relationship with your provider.

Bundling your policies with the same insurance company means getting everything you need from your policies without problems. Therefore, it’s easy to build a long-term relationship with such a company where both parties get what they are looking for.  It’s also easy to get a customized policy that takes care of your needs and budget.

 Not sure how bundling policies in Ponte Vedra Beach, FL work? Palm Valley Insurance Inc can take you through the process and advise you based on your insurance needs, cost, and budget. Call us today!

Two Types of Life Insurance

There are two main types of life insurance: whole life and term life. Each of these comes with its own listed of benefits and drawbacks. If you’re having a hard time choosing which type of life insurance you’d like to take out, call us at Palm Valley Insurance Inc. in Ponte Vedra Beach, FL for more information.

Whole Life Insurance

As the name suggests, this kind of life insurance is in place for your whole life. As long as you maintain the policy by paying its premiums as agreed to, this policy can’t be canceled by the insurance carrier. Instead, it keeps protecting you for the rest of your life until it is time to pay the death benefit. Many people prefer this type of insurance because it stays in effect throughout your life, and it keeps the same rate for coverage throughout that time period. It also builds a cash value that the insured can borrow against if there is a serious financial situation. Many people like having this policy locked in early and knowing that there will be an amount available to borrow.

Term Life Insurance

As its name suggests, term life insurance is only good for the period of time of the contract. After this term has passed, the insured will have to take out another life insurance policy. While it sounds like a lot of trouble, many people prefer this kind of life insurance because it has lower premiums in general than a whole life policy. And if the insured has enough money in case of a financial emergency, he won’t need to build up the cash value of a whole life policy. 

Choose Your Policy

When you want to get a life insurance policy into place, give us a call at Palm Valley Insurance Inc. in Ponte Vedra Beach, FL to find out more about these policy types. 

3 Tips for Buying Your First Auto Insurance Policy in Ponte Vedra Beach, FL

Congratulations! You’re a first time driver who can now experience the freedom of being behind the wheel. Now, it’s just time to get auto insurance so you can register your car in Vedra Beach, FL, and hit the road. At Palm Valley Insurance Inc. we’ve taken the hassle out of buying your first auto insurance policy with these three tips. Read on to learn more.

1. Compare Several Quotes

Do you like to shop around for the best quality and price in Ponte Vedra Beach, FL? If so, do the same with your new auto insurance policy by comparing at least three quotes. Go over them in detail so you understand exactly what’s covered and for how much. If you have a loan on your car, you will need full coverage. If not, you will need the minimum required by the state of Florida. However, we recommend getting fully covered in case you’re in an accident with a driver who is underinsured or uninsured. 

3. Bundle Your Policies

When you have one or more insurance policies you can bundle them under one insurance carrier for premium discounts. This is one of the easiest ways to save.

4. Work with a Reputable Agent

Working will a reputable insurance agent sets you up for success. This person will help you with the auto insurance buying process by determining which quotes to look at, helping you compare them, and then bundling your policies under one carrier. He or she is also available for questions at any time.

To learn more about purchasing your first auto insurance policy in Ponte Vedra Beach, FL, contact the reputable team at Palm Valley Insurance Inc, serving this area.

Protecting your home when you will be away

When you are away from home for a few days, your home becomes a target for all sorts of mischief. It can just be a case of vandalism or it could be a break-in. Neither one is something you want to come home to. Having a home alarm system goes a long way toward giving you peace of mind but there are some simple things you can to do make things safer. At Palm Valley Insurance Inc. in Ponte Vedra Beach, FL, we are independent agents who offer clients the benefit of our insurance experience.

Stop your mail delivery

If you are going to be away for more than just a day or two, contact the post office either online or in-person and fill out the Hold Mail form. Nothing says no one is home like a bulging mailbox. 

Stop the newspaper

Not as many people these days get newspaper delivery every day but if you still get your morning paper, put a stop on delivery. Seeing a pile of papers on the front porch sends the wrong message. 

Put lights on timers

Having your lights on timers is a great idea. You should have several lights that go on and off at different times. This makes your home look lived in even when you are away. 

Talk to a neighbor

The best safety measure is still your neighbors and if you have a nosey neighbor, they are ideal. Let them know you are going out of town and ask them to keep an eye on your house. 

Don’t announce your plans

If you are active on social media, don’t announce your plans to be out of town online. Don’t post pictures of you in another town or country and don’t give the dates you will be away. Save it until you return and then post away. 

Ar Palm Valley Insurance Inc. in Ponte Vedra Beach, FL we are here to help you to have the right home insurance. Stop into our office or give us a call for a free quote.