Everyone who fit a trampoline, puppy, drone or diamond under the tree, listen up: you are not only popular in your home right now, but you also likely need to adjust your personal lines insurance. For many of us, the New Year came with new exposures. Here’s how to back some of those fun and precious gifts from Santa with the proper holiday gift insurance protection.
- Puppy owners – Congratulations on your new addition! Along with new bowls and chew toys, it may be time to purchase an umbrella policy. No, not because cuteness is now raining down upon your family, though it most certainly is. Many a Florida homeowners policy excludes animal liability. If protection is available through homeowners insurance, it usually offers a lower limit of liability coverage. A personal lines umbrella can extend your limit or close that coverage gap. Also consider purchasing pet health insurance, especially if your fuzzy bundle of joy is of a breed known to develop health problems.
- Drones – These unmanned aerial vehicles (UAVs) are classified by the FAA as bonafide aircraft. That leaves your Florida homeowners insurance carrier to decide whether you receive personal liability protection under your current policy. There’s a reason for this. Plenty of accidents have been attributed to drone use. UAVs have been reported to literally fall out of the sky and damage people and/or property. They’re not just ‘remote control cars in the wide blue yonder.’ Check your residential insurance policy with your agent and gauge any additional coverage needs.
- Golf cart – We’ll ignore for the moment that you obviously purchased that vehicle for yourself. But know this: that cart and your liability arising out of its ownership and operation is likely unprotected. Specific insurance policies or endorsements for golf carts exist precisely for this reason. Note: When you call your insurance agent for options, be prepared to say, “This sounds like auto insurance!” Florida golf cart insurance is really very similar, with coverage offered for elements such as bodily injury, collision and property damage. It’s also important to note – if your golf cart or low speed vehicle has a 17 digit vehicle identification number (VIN), you are then required by the state to have an auto policy with PIP coverage in place at all times.
- Baubles and other bling – Jewelry may be insured under your Florida homeowners policy – or it may not be. Get an appraisal and work with an insurance expert to properly protect your investment.
- Additions to existing policies – So you went for the whole bow-on-the-car Christmas morning shock factor? Good for you! Make sure to call your insurance agent and add that SUV to your auto policy. The same goes for a new boat or home expansions.
For all these new exposures and more, you can trust W3 Insurance to offer solid guidance and comprehensive personal lines insurance. Call us today at 727-522-7777. We’ll insure your New Year treasures with peace of mind protection.
Thanks to all the news stories of businesses toppling amidst cyber attack, you’re likely convinced that the threat is real. As cyber insurance advisors, we can assure you that the battle is ongoing and that hackers and other miscreants show no sign of calling for a cease fire. How can you win the war? Besides purchasing cyber attack coverage, there are some relatively simple measures you can take to ensure your organization does not become a cautionary tale. Below is a short list of steps you can take:
Many small and medium-sized businesses are not acting quickly to protect themselves. “My business is smaller than those mammoth companies,” owners say. “Can the risk really be that high?” The answer is a resounding yes. Small and medium-sized business owners who believe it won’t happen to us do so at their own peril. It’s not just the ‘big fish’ who are targets; two out of three cyberattacks are now directed at small businesses. The reason for this is clear: these entities often do not employ adequate security measures. Add an absence of insurance protection to the equation, and a breach can be exceptionally disastrous. It’s a problem of preparation AND protection. Without the proper security in place, a breach may occur with ease – and without insurance coverage to handle the aftermath, the result can be financially devastating.
If customer data is breached, the business could face lawsuits from third parties for not providing adequate protection of sensitive information, as well as government fines and penalties for certain types of legally protected data. After probable costs of legal fees, data forensics, public relations consultants, notification and data monitoring services are totaled, the loss is staggering. The 2018 average cost is $148 per breached record.