Coverage provided by renters insurance and do I need other coverage for my rental

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If you live in a rental, it is just as important that you have insurance to protect your possessions as if you are a homeowner. At Smith Insurance Agency of West Virginia in Kingwood, WV, we are an independent insurance agency, and we offer our customers the most choices and the best rates available. You may think you have complete rental insurance coverage, but you would be wrong.

Rental insurance provides some basic coverage: content coverage, liability coverage, and loss of use coverage. All of these are very important and do provide good coverage, but perhaps not complete coverage.

Flood Insurance

Renters insurance, like home insurance, does not cover damage due to flooding. If you live in an area prone to flooding, you need to purchase additional flood coverage to be protected. You can buy flood insurance for content only.

Excess Amounts of Electronics or Jewelry

The basic renter’s policy has a minimal amount of content coverage for jewelry and electronics. If you have some valuable pieces of either, you need to add a rider to your policy to protect the jewelry and electronics. You should get an appraisal of your jewelry so there will be no questions if you need to make a claim on your policy. Also, having sales slips for electronics helps.

Umbrella Coverage

Umbrella coverage is excess liability that takes over when you reach the limit of your original policy. It will cover both your rental and auto policy; if you are sued, it will help pay the judgment and the legal fees as well. It is an extra layer of protection that most people can benefit from.

Contact our Smith Insurance Agency of West Virginia office in Kingwood, WV to discuss your insurance needs.

How wealthy do you have to be to need umbrella coverage?

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Why You Need an Umbrella Insurance Policy

Rich can be a relative term, especially regarding insurance coverage. Generally speaking, you definitely need an umbrella policy if your net worth exceeds $500,000. The policy covers you for large amounts beyond what you may already have on your home or auto policies. It is possible to be ordered to pay millions of dollars if you lose a major liability lawsuit. The more you have to lose, the more you need an umbrella insurance policy. Visit the Smith Insurance Agency of West Virginia in Kingwood, WV to get all your insurance questions answered.

Protecting Your Future Wealth

For instance, if you have a large inheritance coming, you might consider umbrella protection. If you were ordered to pay, you would have to pay when you received the inheritance, no matter how much later it is. You could also want to protect the lottery or other gambling winnings you might win in the future. It not only protects what you have now, but it also protects what you may have in the future.

What Does an Umbrella Policy Cover?

The umbrella policy can also cover you for damage done by your dependent children. It can also protect you from losses due to slander, libel, defamation of character, and other things that you could possibly face a lawsuit over.

Cost and Risk Factors

Umbrella policies are not very expensive, and how likely you are to face such a lawsuit may also determine your risk. Regardless of your net worth, there are still risks. If you drive a lot, own a swimming pool, or have a dog, these are just a few things that increase your risk or exposure to large settlements if you were to be sued.

Is an Umbrella Policy Right for You?

To find out if an umbrella policy is right for you, regardless of your net worth, contact the Smith Insurance Agency of West Virginia in Kingwood, WV to get the coverage you need.

Why You Need Both Home and Flood Insurance Policies

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Most home buyers understand that protecting their new home with home insurance is crucial. Lenders and others with a vested interest in your home will require it. However, many homeowners overlook the necessity of flood insurance, leaving their homes under-protected. To learn more about this essential insurance policy, contact us at Smith Insurance Agency of West Virginia in Kingwood, WV.

Home and Flood Insurance in West Virginia

Many opt out of a flood insurance policy, assuming their home insurance will cover all possible disasters, including floods. Unfortunately, that’s incorrect. Home insurance does not cover damage caused by floods and explicitly excludes it from its coverage. Therefore, it’s essential to have both a home and flood insurance policy to ensure maximum protection and peace of mind against potential disasters.

Flood Coverage and Flood Zones

Some homeowners forgo flood insurance because their homes aren’t in a designated flood zone. However, floods don’t exclusively occur within these zones. Living in a flood zone only means a higher probability of floods over a specific timeline. Flooding can happen anywhere; interestingly, approximately 20% of all flood claims come from homes not situated within flood zones.

Advantage of Flood Insurance in West Virginia

You may have home insurance, but without flood insurance, you remain vulnerable. To get started with this essential coverage, contact us at Smith Insurance Agency of West Virginia in Kingwood, WV.

Is Your Commercial Insurance Keeping Up With Your Business?

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The first few years of a new business can be frustrating and rewarding. We’ve all heard about the challenges of keeping a new business afloat for the first five years.

If you own a business in the Kingwood, WV, area or elsewhere in the state, Smith Insurance Agency of West Virginia salutes you. You have battled your way to business establishment and have achieved some success.

At some point, your attention should turn to ensuring your insurance company keeps pace with your business.

Have you purchased additional equipment or inventory?

You may be at greater risk today than when you started your business. You may have more equipment, electronics, furniture, and inventory. Make sure you have sufficient coverage.

Are you covered adequately for injury-related liability claims?

An oversight, slip and fall, or employee mistake can lead to an expensive liability claim. Liability insurance will not only cover any financial judgment or settlement but also help with the associated legal expenses.

Have you added company vehicles?

If you have even added a single company vehicle, it can impact your business insurance coverage. Even when using personal cars for business purposes, it can place you at risk.

Did you purchase real property?

Many businesses start by renting their space and eventually purchase real estate as they mature. If this includes your business, make sure your commercial policy keeps pace.

Contact us for a review and price quote.

If you have yet to acquire business insurance or are looking to ensure it is kept up, contact us. Smith Insurance Agency of West Virginia serves businesses in the Kingwood, WV, area. We will be happy to provide a no-obligation review and a price quote. Contact us to ensure your business insurance is kept up today.

Why You Should Check Auto Insurance Rates Annually

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One frequent question at the Smith Insurance Agency of Kingwood, WV, is how often drivers should check on auto insurance rates. How frequently is too often, and when is it not enough?

Many will seek out auto insurance quotes if they have recently had a bad experience with a provider or experienced a rate increase. Each of these situations is understandable. However, even if you are relatively satisfied, getting a car insurance quote every year or so can be beneficial. Here is why.

Rates Change

Insurance companies routinely alter rates. You may be able to find a more attractive rate this year.

Driving Records Change

You may have violations, citations, or even points expiring from your driving record. Comparing your rates can positively impact your rate.

Companies May Temporarily Lower Rates

Some car insurance rates may be temporarily lowered to attract new policyholders. You may fall into a desired group for a provider and be eligible for a lower rate.

You May Qualify For Discounts

You could now be eligible for discounts that weren’t previously available. You might qualify for a safe-driving discount, a good student discount, a discount for bundling, or more. Checking occasionally may end up benefiting you through lower premiums.

You Don’t Know What You Don’t Know

Simply put, you won’t know if lower rates are available unless you check each year.

Checking Rates is Easy

Comparing car insurance rates is easier than you might think. Not only is it simple to check rates, but changing providers is also straightforward. We can help you get a quote from Smith Insurance Agency of West Virginia.

Stay on Top of Car Insurance Rates with Smith Insurance Agency

If you live in the Kingwood, WV area, we invite you to contact us at the Smith Insurance Agency of West Virginia for your no-cost, no-obligation auto insurance quote today. We may even be able to assist you in upgrading your coverage. Reach out to us, answer a few questions, and get started today.

Home Insurance for Homeowners Who Have Tenants and Roommates

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At Smith Insurance Agency of West Virginia in Kingwood, WV, we know many homeowners opt to share their homes with roommates to lower their living expenses or help out folks who may prefer to live in a house rather than an apartment. No matter what brings roommates into your home, you may wonder if it will affect your home insurance or if your home insurance will cover your roommate’s belongings and liability expenses. To answer these questions, we’ll talk about what you can expect as a homeowner with roommates from your home insurance policy below. Since every home insurance policy differs, speaking to our insurance agents for more detailed information on this topic is important.

Does Home Insurance Cover a Roommate or Tenant’s Belongings?

If your home experiences a theft and your roommate’s belongings are stolen, you might wonder if you can submit a claim to your homeowner’s insurance for their stolen valuables. Unfortunately, most homeowner’s insurance policies will probably not cover the roommate’s belongings. As a result, we recommend the roommate or tenant purchase renter’s insurance to cover those items and protect against liability.

What If You Don’t Live in the Home?

If you no longer use the house where the roommates or tenants live as a primary dwelling, homeowner’s insurance isn’t the appropriate policy for your situation. If you have another primary dwelling, you should get landlord’s insurance to protect yourself and the property. If you share a vacation home with roommates or tenants, second home insurance could be your best option. One of our insurance professionals can help you decide which insurance policy is right for your circumstances.

To protect your home, call our Smith Insurance Agency of West Virginia team in Kingwood, WV.

Renters Insurance: For Those Who Don’t Own Their Homes

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Today, more people are renting than ever, and there are also many reasons. From the convenience of being able to pick up and move easily to having the luxury of property management services (because nobody likes to mow their grass on 90-degree days), renting is becoming more popular daily. That also means that the need for protection, such as renters insurance, is also becoming more important, which is why people in and around Kingwood, WV turn to the trusted and proven agents at the Smith Insurance Agency of West Virginia for all their insurance needs.

Protection for Renters in Kingwood

West Virginia isn’t only a beautiful place to call home, it is also home to many beautiful rental properties. That is good news for renters, and so are the options that renters have today with renters insurance protection. Renting a home or apartment doesn’t make anyone less susceptible to risks like fires, theft, flooding, and more. The bottom line is that it doesn’t matter if you rent or own your home because your first line of defense against damage, loss, and the unexpected is insurance.

In many cases, the property owner will have (or should have) insurance to cover property damage, such as roof and structural damage, but what about your personal property? What about your computer, jewelry, clothing, or furniture? These are all concerns and questions your agent can help you figure out and, more importantly, protect with the right insurance plan.

Renters Insurance in Kingwood, WV

If you live in or around the beautiful Kingwood, WV, area and are looking for renters insurance, the friendly and professional team at the Smith Insurance Agency of West Virginia is here to help. Contact us to learn more about how renters insurance can help protect you and your valuables and get the coverage and protection you need and deserve today. 

Three Frequently Asked Questions About Umbrella Insurance

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You can usually tell what’s covered by an insurance policy by the policy name. Homeowners insurance covers your home. Auto insurance covers your car.

But what is umbrella insurance? What does it cover? The professionals at Smith Insurance Agency of West Virginia, servicing Kingwood, WV, are here to help. If you have questions about umbrella insurance, we can help. 

1. What Is Umbrella Insurance?

Umbrella insurance offers extended liability coverage that goes beyond the liability coverage offered by another policy, like a homeowners insurance policy. Umbrella insurance is designed to offer an extra level of protection if you are likely to be sued.  

2. Who Needs Umbrella Insurance?

Many people don’t even realize they could benefit from umbrella insurance. If you own a home or have many assets, such as an investment portfolio or a retirement savings account, you could benefit from umbrella insurance.

Generally, your liability coverage should be as much as or more than your assets. You could benefit from umbrella insurance if you can add all your assets together; the total is more than your liability insurance. 

3. How Can I Get the Best Umbrella Insurance Policy for Me?

The best way to get an umbrella insurance policy is to talk to a trusted insurance agent. The Smith Insurance Agency of West Virginia professionals servicing Kingwood, WV are here to help. We work with many carriers to ensure our customers have many choices and can find the right policy. 

If you want umbrella insurance, call today to speak with one of our experienced insurance professionals. 

Wading Through Risk: How Flood Insurance Protects Your Most Prized Possessions

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Flash floods caused by natural disasters like severe thunderstorms and coastal storms can occur unexpectedly. Smith Insurance Agency of West Virginia, located in Kingwood, WV, offers local residents peace of mind through comprehensive flood insurance.

Why Flood Insurance Matters

Many homeowners in the US are unaware that floods are the most common and costly natural disasters. Worse, standard home insurance policies usually exclude flood damage coverage. Without the right protection, homeowners can be burdened with substantial repair and replacement costs.

Common Causes of Home Flooding

While natural disasters are an obvious cause of home floods, there are several other potential culprits, including:

  • Plumbing Failures
  • Sewage Backups
  • Appliance Malfunctions
  • Improper Drainage
  • Landscaping Issues
  • Foundation Cracks

Consulting with a local licensed insurance agent can help you evaluate your individual needs and select the best flood insurance coverage.

Protect Your Possessions

Investing in a comprehensive flood insurance policy is an excellent way to protect your valuable possessions from loss in a devastating flood. With the ever-changing climate and increasing frequency of extreme weather events, flood insurance is a necessity for homeowners who want to safeguard their homes and property.

Secure Your Future with Flood Insurance

It is crucial to proactively ensure the safety of your home and family from potential flood damage. Don’t wait until it’s too late and the unexpected happens. Contact a trusted insurance agent at Smith Insurance Agency of West Virginia in Kingwood, WV, and get your flood insurance quote today!

Small Business, Big Risks: Insurance Essentials for Entrepreneurs

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Navigating Commercial Insurance Essentials in Kingwood, WV

Embarking on the entrepreneurship journey is exciting, yet it’s vital to protect your investment from unforeseen hurdles. At Smith Insurance Agency of West Virginia, we understand the unique risks faced by small businesses in the broader Kingwood, WV area. Here are eight commercial insurance essentials every entrepreneur should think about:

1. General Liability Insurance:

It protects your business from claims of bodily injury, property damage, or advertising injury and is a fundamental coverage for most businesses.

2. Commercial Property Insurance:

Safeguards your physical assets like buildings, equipment, inventory, and furnishings from perils such as fire, theft, and vandalism.

3. Business Interruption Insurance:

Offers financial assistance if your business operations are disrupted due to covered perils, helping cover lost income and ongoing expenses.

4. Commercial Auto Insurance:

Provides coverage for vehicles used for business purposes, protecting against accidents, theft, and vandalism.

5. Workers’ Compensation Insurance:

In most states, this mandatory coverage offers benefits to employees who suffer work-related injuries or illnesses, including medical expenses and lost wages.

6. Professional Liability Insurance:

Also known as errors and omissions insurance, it protects professionals against claims of negligence or inadequate work resulting in clients’ financial losses.

7. Cyber Liability Insurance:

It covers your business from the financial consequences of data breaches, cyber-attacks, and other cyber crimes, taking care of expenses like legal fees and customer notifications.

8. Employment Practices Liability Insurance (EPLI):

Covers your business against claims related to employment practices such as discrimination, wrongful termination, or harassment.

Securing the right commercial insurance coverage is vital for the success and longevity of your small business. For personalized guidance and exploring your insurance options, contact Smith Insurance Agency of West Virginia. We are at your service in Kingwood, WV. Don’t take a risk with your business. Insure it with Smith!