With Qpay Insurance, it’s one-stop insurance shopping at its best. As an independent insurance agency, we work just for you and your family, not the insurance company. Our trained and experienced professionals are there to help you select the best policy and best possible price.
Q 7 Pointers:
Here’s a list of the seven primary coverages for Auto Insurance and how they protect you:
- Bodily injury liability provides protection if you injure or kill someone while operating your car. It also provides for a legal defense if another party in the accident files a lawsuit against you.In the event of a serious accident, you want enough insurance to cover a judgment against you in a lawsuit, without jeopardizing your personal assets.Bodily injury liability covers injury to people, not your vehicle. Therefore it’s a good idea to have the same level of coverage for all of your cars.
Medical payments, no-fault or personal injury protection coverage usually pays for the medical expenses of the injured driver and passengers in your car. There may also be coverage if you are injured by a vehicle as a pedestrian.
Uninsured motorists coverage pays for your injuries caused by an uninsured driver or, in some states, a hit-and-run driver. In some states there is also uninsured motorist coverage for damage to your vehicle.Given the large number of uninsured motorists, this is very important coverage to have, even in states with no-fault insurance.
Comprehensive physical damage coverage pays for losses resulting from incidents other than collision. For example, comprehensive insurance covers damage to your car if it is stolen; or damaged by flood, fire or animals. To keep your premiums low, select as high a deductible as you feel comfortable paying out of pocket.
Collision coverage pays for damage to your car when your car hits, or is hit by, another vehicle or other object.To keep your premiums low, select as large a deductible as you feel comfortable paying out of pocket. For older cars, consider dropping this coverage, since coverage is normally limited to the cash value of your car.
Property damage liability protects you if your car damages someone else’s property. It also provides you with legal defense if another party files a lawsuit against you. It is a good idea to purchase enough of this insurance to cover the amount of damage your car might do to another vehicle or object.
Rental reimbursement coverage pays for a rental vehicle (usually up to $25 a day) when your vehicle is out of commission as a result of a loss covered under comprehensive or collision coverages.
Homeowners insurance compensates you for losses to your home and your possessions inside it, so purchasing a homeowners insurance policy provides added security for your investment. Homeowners insurance also protects you if you’re legally liable for someone’s injuries on your property, as well as from financial losses caused by storms, fire, theft and other events or perils outlined in your policy.
Different companies offer different homeowners insurance coverages, so choosing the right policy means finding the right mix of coverages to meet your needs.
Generally, a standard homeowners insurance policy protects the following:
- The physical structure of your home known as dwelling
- Structures on your property (storage sheds, pools, boathouses, etc.)
- Your personal property and belongings inside your home, up to limits
- Your liability or legal responsibility for any injuries and property damage you or your family members cause to other people
- Injuries to your household pets while inside your home
- Additional living expenses if a fire or other insured disaster leaves you temporarily unable to live in your home.
Often, for an additional fee, you can select optional homeowners insurance coverages, including:
- Higher limits of liability for property damage or bodily injury
- Replacement cost for personal property
- Protection for valuables (jewelry, watches, fur, etc.)
- Additional coverage for electronics or computer equipment.
To make shopping for the right homeowners insurance policy easier, take an inventory of what you own to decide what level of coverage makes you comfortable. Once you know your coverage level, Let a Qpay Insurance Agent find you the best deal to get a homeowners insurance and help you choose the policy that’s right for you.
Business owner’s insurance
Business Owners Insurance, or BOP Insurance, combines some of the basic coverage needed by a typical small business into one standard package at a discounted premium. A Business Owners Policy (BOP) combines several types of commercial insurance, including General Liability and Property Insurance allowing small to medium sized businesses operating in a low-risk category to get the needed coverage in one policy. Consolidating all the necessary business coverage into a BOP insurance policy can be a good idea for small businesses looking to save money while getting their insurance needs covered.
How Business Owners Insurance Works
Typically a BOP insurance policy will provide the following coverage:
- Business interruption insurance (covering losses that cause you to shut operations or reduce production for a time). Business interruption insurance can provide money to off set lost profits or to pay continuing expenses (typically for up to a year for insured losses).
- Crime insurance (covering loss of money or securities resulting from burglaries, robberies or destruction) as well as losses from employee theft or embezzlement.
- Vehicle coverage for rented or borrowed vehicles.
- Business Owners Insurance insures a damaged property for replacement cost value, which means that you would receive enough from your settlement to replace the property at today’s value.
- General liability protection that insures against claims of bodily injury or property damage by someone injured at the business. The liability portion also covers the cost of defending lawsuits that claim you are responsible for causing bodily injury or property damage.
Why Buy a Business Owner’s Policy?
There are several reasons why BOP Insurance might be right for your company, such as:
- Low business Insurance cost
- Minimum Hassle- since the coverage is prepackaged, you only have one policy to review
- One monthly premium
- Ability to add coverage need in the form of endorsements or riders
There are some cons to think about. Before buying BOP insurance consider some drawbacks including:
- Lack of flexibility in coverage limits. This may be a problem for business owners who want higher maximum coverage limits for their company.
- BOP Insurance does not cover every type of risk. Therefore, a business owner may need additional types of coverage such as fleet insurance for the automobiles you own, or higher limits not offered in a BOP Insurance policy.
Discuss your business insurance need with a reputable Qpay agent who can give you risk analysis review in order to determine if BOP insurance is right for you. If your business is eligible, then obtaining insurance coverage under a BOP insurance policy will streamline your insurance needs to one comprehensive policy.