What does Renter’s Insurance Cover Besides Your Stuff?

Most people, when buying renters insurance, do so to cover their possessions in the case of fire, theft, or other misadventure. However, as XL Brokerage Inc. serving Selden, NY explains, a good renters policy will cover quite a few other things besides replacing your possessions.

Besides replacing your stuff, a renters insurance policy will help you pay for alternative, temporary living arrangements if your apartment becomes uninhabitable as the result of a fire or some other disaster.

One of the constants in life is that accidents can happen, even in the supposed safety of your own home. A slip and fall or some other accident can result in injuries that will send one of your guests to the hospital and expose you, as the host, to liability if that person chooses to file suit. If your injured guest can prove that you were in some way liable, for example by serving too much alcohol at a party, you might wind up paying his medical bills.

Even if the suit is eventually thrown out of court, you will likely have to pay out-of-pocket legal costs defending yourself. A good renters insurance policy will cover your legal bills related to accident litigation.

Finally, if you happen to possess something of extra value, such as jewelry, art, or a collectible, you might want to consider buying an extra rider to your policy to cover the cost of the item in case of loss or theft.

If you have any questions about renters insurance or would like to buy a policy, feel free to contact XL Brokerage Inc. serving Selden,, NY.

If You Work at Home Do You Need Commercial Insurance?

If you have a home-based business in Selden, NY, especially one without a lot of risks, then you may think that you don’t need commercial insurance. However, you need to separate home from business and protect both aspects of your life. There have been many times when a homeowner’s insurance policy has been rejected when trying to process a business claim. People are litigious, so it’s necessary that you have adequate coverage to protect your business assets. An agent at XL Brokerage Inc. can help determine the right coverage.

Even if you work for yourself and don’t have employees, you still need to have insurance. If you make a mistake at work, then people may come after your home. Even if you have a personal liability umbrella policy, it won’t cover any business-related problems.

There are a few different policies you can get in order to protect your home-based business. Business general liability insurance is the main policy that you should have, regardless of the type of work you are doing. It covers many basic things, including bodily injury, property damage, and personal injury in advertising. A commercial property policy will cover any equipment you keep at home even if the equipment is minor, like a computer. Errors and omissions insurance helps protect businesses that offer services to clients. This can also be called professional liability insurance, and for doctors and lawyers, it can be called malpractice insurance. If you do have at least one employee, whether they work with you or somewhere else, workers compensation insurance will protect you if they get injured on the job. If you are using your vehicle for deliveries or other business purposes, your auto insurance policy won’t cover the business use of the vehicle and you will need a commercial policy to provide adequate coverage.

Contact XL Brokerage Inc. serving Selden, NY to get a quote on commercial insurance.