Types of Specialty Commercial Policies

If all you know of commercial insurance is a business owner’s policy (BOP), you are missing out on glass insurance, mechanical policies, malpractice insurance and more. This blog explains the less well-known items.

At Chastain Agency Inc. of  Gainesville, GA, we want you to have the coverage you need. You probably already have liability, property and worker’s compensation insurance, but do you know the other types your business might need?

If you have a building with an old-school boiler, a boiler and machinery insurance policy pays for the repair of equipment breakdown. Sometimes called equipment breakdown insurance, it also covers your business interruption losses. 

A debris removal policy reimburses you for damage cleanup from a flood, fire,  windstorm or similar event. This pays for removing the debris so you can begin rebuilding.

You can insure just the glass of your storefront against damage. A glass policy protects you from losses of glass breakage. Most people think of storefront windows and doors, but this would also cover mirrors in a funhouse or dance studio, plus skylights.

If you deliver, store or transport items, you need an inland marine insurance policy. Let’s say your bakery starts delivering cakes. You need this policy just like a dry cleaning business would.

A fidelity bond insurance policy reimburses the business when a bonded employee steals from the business property.

These less common types of commercial insurance provides for coverage of the specialty needs of businesses. You probably won’t need each one, but you may need more than one. Visit  Chastain Agency Inc. of  Gainesville, GA to learn more about specialty insurance you might need.

Why Renters Insurance is More Important in Georgia Now than Ever Before

Rent has been swiftly rising in Georgia, and our state now has the fifth fastest-growing rent rates in the entire nation. But as a tenant in the Gainesville, GA area or beyond, you don’t need to be told this — you already know!

That’s why the experts at Chastain Agency Inc. are here to help prevent unnecessary, big expenses with renters insurance. With a good policy in place, the extreme costs that come with damaging scenarios and liability claims won’t have to come straight out of your own pocket.

And the truth is that renters insurance is more important in Georgia now than ever. Here’s what you need to know:

  • Higher rent rates have come at a result of higher demand – More people are renting in Georgia now than ever, which also means new apartment complexes have more units and keep tenants in closer quarters.
  • Fires and other damaging incidents that start in one apartment often spread to other units. The tenant(s) deemed at fault may be held liable for a portion of the damage, if not all of it.
  • If someone gets injured in your home, even if they’re a neighbor who lives in the same building or complex, you can be held liable for their medical costs. 
  • Landlords aren’t required by law to have insurance, and even if they do, their coverage might not extend to tenants.
  • Theft and burglary rates may have fallen over the past several years in Georgia, but these cases are still far from uncommon. Even if your landlord does have a property insurance policy in place, it will cover the building — not your personal possessions. 

A good renters insurance policy will provide necessary coverage in a wide variety of situations. When you’re ready to explore your coverage options, come visit the Chastain Agency Inc. offices in Gainesville, GA or give us a call. 

How Health Insurance Can Improve Your Life

All people need to ensure that they are properly covered by insurance. While having auto and home insurance is very important, the most important type of coverage that you need to have is health insurance. Having a quality health insurance policy can help to improve your overall health and improve your life a number of different ways. 

Improve Your Health and Wellbeing

One of the advantages of getting a health insurance policy is that it can improve your overall health and wellbeing. Those that are in the Gainesville, GA area will benefit greatly when they have health insurance. Those that have health insurance will have a network of doctors and specialists to choose from. This will ensure that you are able to receive medical care when you need it. Ultimately, this will allow you to focus on your personal health and identify health concerns before they get worse. 

Financial Benefits

Another advantage of having health insurance is that it can provide you with financial benefits. If you do not have health insurance and suffer an emergency, you will need to spend a lot of money to receive care. This will be significantly discounted if you have health insurance. Further, if you do not have coverage, you could face an annual financial penalty when you file your taxes.

There are clearly many benefits that come with having a health insurance policy. When you are shopping for a health insurance policy in Gainesville, GA, it would be beneficial to reach out to Chastain Agency Inc. The professionals at the Chastain Agency Inc. are very aware of all of the different health insurance options that you have at your disposal. They can then get you into a policy that provides you with the right type of health insurance coverage. 

How much life insurance is enough

Life insurance is something that can be awkward to talk about. It is, however, an important part of financial planning. The person to talk to about life insurance is one of the experienced agents at Chastain Agency Inc. in Gainesville, GA. We can help you to navigate the sometimes confusing world of insurance, including life coverage. 

Before you can determine how much life insurance you need, you need to ask yourself a few questions.

  • Do I have any outstanding debt?
  • Does anyone count on me for financial support?
  • Do I want to leave a legacy for my children or grandchildren?
  • Have I made arrangement for my final expenses? 

If you have no outstanding debt, no one counts on you for financial support, you don’t want to leave a legacy and you have already made your final arrangements then you do not need very much if any life insurance. If however, you do have outstanding debt such as a mortgage or credit card debt, you should have enough life insurance to pay them off. 

If you have a family that counts on your income you need to have enough life insurance to make sure that they can survive for at least a few years without you. You may also want to include enough to pay for college for children or grandchildren when determining the amount. 

At the very least, you should have enough life insurance to pay for your final expenses which these days can be quite a lot. You don’t want to add to your family’s grief with the burden of coming up with the necessary money to pay for your funeral. 

At the Chastain Agency Inc. in Gainesville, GA we have the information you need to make an educated decision about your life insurance. Stop by our office or give us a call. We will be happy to share our knowledge with you. 

Should I have commercial insurance on my small business in Gainesville, GA

As a small business owner in Gainesville, GA you may be asking yourself if commercial insurance is something that you should have. This is just the type of question that the insurance specialists at Chastain Agency Inc. are qualified to talk about with you.  

In the state of Georgia, 97 percent of businesses are classified as small businesses. If you are feeling that you are on your own, you aren’t. Lots of other small businesses are dealing with exactly the same types of issues as you are. Here are some reasons for you to have commercial insurance. 

Worker’s Compensation

Georgia law requires any business with three or more full or part-time employees to have workers compensation or to be a qualified self-insurer.  

Employment practices liability insurance

When you have employees the risk is always there that a claim may be filed against you for harassment or wrongful termination. Having a commercial insurance policy can cover you against these types of suits which can be very expensive whether you are found innocent or guilty.

General liability

This coverage protects you when a customer is injured on your property or by one of your products.

Building coverage

Things happen, if the place where you do business is damaged by wind, lightning, fire or theft, you need to be able to do the necessary repairs so that you can get back to business as usual.

Business interruption

If your business is so damaged that you can’t operate for a period of time this coverage allows you to be able to continue receiving an income. Even though your business may be temporarily unable to operate, your bills don’t stop.

At Chastain Agency Inc. we welcome the opportunity to sit down with you and discuss the type of commercial coverage that you need. Call and make an appointment or stop in at our Gainesville, GA office, we have the information that you need.

 

What Factors Determine My Motorcycle Insurance Premium?

Gainesville, GA residents who drive motorcycles are required to insure their bikes by law, with a minimum of $25,000 to cover bodily injury per person and $50,000 total for injury or death. 

A number of factors can affect how much you are charged, including where you live. Drivers in states with longer winters and shorter riding seasons may pay decreased rates, as they will typically have less occasion to be involved in accidents. Age plays a significant role in your premiums, as younger riders are considered to be at a greater risk on the road. Costs will continue to decline until a rider reaches seventy years of age. 

Experience also plays an important role, one reason teenagers are expensive to insure. What this also means, however, is that an older driver who is just beginning may pay more than someone younger who has ridden longer. 

Your riding habits matter, too. If you’re using your motorcycle recreationally on the weekends, it won’t set you back as much as when you ride to and from work every day. If you’ve been ticketed for speeding, whether on your bike or in your car, this can trigger higher rates, although these violations can fall off your record after three years. 

Your accident history is important as well, though it will make a difference as to whether the incident was your fault or someone else’s. Also of consideration is the type of vehicle you are purchasing, its engine size, and whether it is high performance. 

Chastain Agency Inc. Can Help You

At Chastain Agency Inc. we work hard to find the insurance package that will best meet your needs, and we serve those living in the Gainesville, GA area. We encourage you to reach out to us with any questions you may have, and we look forward to hearing from you!

 

Top 4 Factors to Affect Boat Insurance Rates

Boat insurance can vary widely based on several factors. Since there is a bit of a risk that comes along with owning and operating a boat, your insurance rates, and coverage options may be different from one insurance agency to another. Each company will use a number of factors to determine whether you (and your boat) are at high risk. Find out more from a reputable insurance provider such as Chastain Agency Inc., which serves the Gainesville, GA area.

Marriage

Whether or not you are married plays a role. Many companies will give you a less expensive rate if you are married. However, some do not give a different rate based on your status.

Where You’ll Use Your Boat

Where you plan to travel by your boat makes a big difference with your insurance rate. Areas with coastal exposure present more of a risk, so people who use or dock their boats there will see a higher rate. The power and the size of the boat are a factor here, as well. You may be able to get a one-trip or yearly rider in order to cover your boat for extended trips to places such as Mexico and the Bahamas.

Safety Equipment on Board

If you have safety equipment such as an automatic fire extinguisher system and GPS system on board, you can save on your insurance cost. You likely will be eligible for a certain type of discount in this instance.

Have a Clean Driving Record

If you have a clean driving record on your boat, you are much more likely to receive a low insurance rate. It also matters if you have a good driving record with your street automobile.

Give Chastain Agency Inc. a call or reach out via the online contact form today with your questions about boat insurance. We have been assisting boat owners in the Gainesville, GA region for several years and would love to help you.

What Does Trucking Insurance Cover?

Trucking is a very lucrative but somewhat risky business venture. Without proper insurance, you can lose thousands of dollars on one simple trip that should have been easy. For those that live in the Gainesville, GA area, the agents with Chastain Agency Inc. can help you determine what type of trucking policy you need. Over the road trucking can be risky, but with the right policy in place, anyone can have a great trucking experience.

For those that own trucking business, having a good trucking policy is going to be a very beneficial thing. Trucking insurance covers a few different things. For starters, it helps to cover the driver the contents of your trucks. Say for instance you have a truck that has thousands of dollars of items in it and it is wrecked and the items are all destroyed. The truck is likely going to be covered on your auto policy for the company or on the trucking policy as is the contents of the truck.

Trucking insurance works to cover things like the truck itself, the contents of the truck and even things like vandalism. It is important that when you are working to create your trucking policy you take everything into consideration. The trucking policy is not just in place to protect the truck itself, but also to protect the contents of the truck and so much more. Your driver may also be covered on your trucking policy should they become injured while driving one of your trucks. For those that have a trucking business and live in the Gainesville, GA area, the agents with Chastain Agency Inc. can help you to create and maintain the perfect trucking policy to protect your business, your drivers, and your customers as well.  

Why You Should Consider a Business Owners Policy (BOP)

A business owner’s policy or BOP is a good commercial insurance choice for businesses in and around Gainesville, GA. A BOP offers a lot of bundled insurance options that can serve as a start to protecting your business and assets. Here is more about why you need a BOP or equivalent from Chastain Agency Inc.

A BOP Comes With Liability Protection

One of the most important forms of insurance coverage any business needs is liability protection. This type of protection offers coverage against lawsuits that stem from claims or damage or injury caused by your product or service. A single lawsuit can completely stop a growing business in its track. That’s just one reason why liability protection is so important.

A BOP Comes With Property Insurance

Property insurance coverage will give your business assets some protection. This type of insurance covers the building where you do your business as well as the business property you use. If your business property suffers from damage or theft, this part of the BOP can kick in to cover it.

A BOP Comes With Business Interruption Coverage

When a covered event renders you unable to perform your business operations, this part of the BOP coverage can help you get by. For example, if a fire damages a device you need for business, this part of your insurance can cover the loss of income up to a certain amount.

A BOP Isn’t Always Enough

It’s true that a BOP can cover a lot, but there’s a lot it doesn’t cover as well. A BOP policy is excellent for small businesses and new businesses that haven’t yet decided on the full insurance needs of their business. A BOP is a safe bet to start with no matter what. If you need quality commercial insurance for your business in Gainesville, GA, contact the Chastain Agency Inc. today.

4 Things You Didn’t Know Your Renter’s Insurance Covered

Renter’s insurance helps protect the personal property of those living in the Gainesville, GA area. You already know that your clothes, electronics, and other personal effects are covered. But what else can your renter’s insurance do? Here are some of the lesser-known perks of a renter’s insurance policy from Chastain Agency Inc.

  • Is your living space infested with cockroaches, rats, or other unsavory vermin? Your renter’s policy could help you pay for an exterminator. You may also be able to claim funds for damages to your property related to the infestation.
  • Did an accident or natural disaster render your living space uninhabitable for a short period of time? Many renter’s insurance policies pay for temporary lodgings due to covered events. That means if you need to move into a hotel while your home is repaired, your insurance carrier will foot the bill.
  • Was your car broken into while it was parked in your building’s lot? In addition to your auto insurance payment, you could claim the loss on your renter’s insurance as well. This is especially helpful for high-cost items like electronics and collectibles. This coverage does not include anything that is permanently attached to your vehicle (car seats, installed radios, etc.).
  • Did your pet attack an unwelcome visitor? The liability coverage in your renter’s policy will help pay for medical and legal costs associated with any accidents that happen near your abode. Your policy also pays for damage your pet might cause to your neighbors’ property.

Chastain Agency Inc. provides renter’s insurance policies for residents in the Gainesville, GA area. Let us know how we can help you protect your important assets.