Understanding Home Insurance Coverage Against Perils

The type and extent of hazards or perils your home insurance policy covers depend on your coverage level. Our experts at The Mitchell Agency LLC of Alabama will help you comprehend and select the appropriate level of coverage based on the most frequent perils occurring in our state.

Named Perils Coverage

The kind of homeowners insurance you opt for determines whether you require named perils or all perils coverage. A named-perils policy provides coverage only against events listed explicitly in the policy document. An HO-1 policy covers the ten most common perils, including fire, hail, and vandalism. An HO-2 policy additionally covers six perils, including the weight of snow, sleet, or ice and freezing pipes.

All-Perils Coverage

Most homeowners opt for HO-3 coverage, also identified as open-perils coverage, which excludes a few perils such as earthquakes and animal-induced damage, including damages by pets, vermin, or insects. For this level of coverage, earthquake coverage can usually be added as a rider. On the other hand, HO-5 coverage, offering comprehensive coverage, covers all perils and provides increased coverage of personal belongings. HO-5 does not explicitly name specific perils but rather covers all perils not listed in its exclusion section.

Protect Your Home Today

Get in touch or email us at The Mitchell Agency LLC to buy or enhance your home insurance, imbuing your Alabama home with superior coverage against life’s many haphazard perils.

Wind insurance is not a common consideration for Alabama residents, but this is where The Mitchell Agency LLC comes into play. We are here to provide Alabama home and business owners with all of the tips and pointers that they need when it comes time to protect their property. Our primary objective is to remove all of the guesswork, so take a moment to read on and learn more about what you need to know.

Are Alabama Residents At Risk of Wind Damage?

There is no area of the United States that is completely free of risk in this regard. Alabama’s residents must be on higher alert than most, though. The southeast region of the country is one of the riskier areas, so wind insurance is an absolute must. Windstorms can take place at any time, and no home or business owner wants to be left picking up the pieces.

What About My Current Homeowners Insurance Policy?

In Alabama, your current homeowners’ insurance policy may provide coverage from wind-related damages, but this is not an assumption that you should be running with. However, these policies are not a catch-all all, and there may be gaps that you are not aware of. Consult a professional so that you have the chance to find out more about these potential coverage gaps before it is too late.

How Do I Choose a Wind Insurance Policy?

The policy that you select should be reviewed as carefully as possible before you sign on the dotted line. What are your coverage levels? Are there any exclusions that you need to be aware of? These are choices that need to be made before a storm has taken place, not after.

At The Mitchell Agency LLC, we pride ourselves on offering Alabama home and business owners the help that they need. If you have any further questions about a potential wind insurance policy, pick up the phone and give our team of professionals a call as soon as possible.

The thought of owning your business is an exciting proposition for anyone. However, the decisions before opening the doors can be challenging for a new business owner. The first move is purchasing an effective commercial insurance policy that will become a wise financial investment. The Mitchell Agency LLC in Alabama can create a policy that protects your business from unforeseen circumstances.

What is Commercial Insurance?

Individuals expose themselves to all sorts of risks after opening a new business. The goal is to protect your financial interest from certain risks that come up regularly when operating a storefront. Commercial insurance is the extra protection needed to run a business. However, the policy’s terms can be complicated to read and interpret. You have to choose coverage that fits within your budget.

General Liability Coverage

All businesses run the risk of causing bodily injury or property damage to others during a work day. Alabama state law requires all businesses to have minimal general liability coverage included in their commercial insurance policy. It will protect them from being sued for injuries caused by slipping or falling on the property. Liability coverage pays for all medical costs and property damage associated with the mishap.

Commercial Building Property Coverage

Commercial building property coverage may sound too obvious, but most general commercial insurance policies fail to include the provision. The coverage is mandatory if you are renting the building space. It will protect recent structural additions, inside fixtures, and permanently installed equipment. Thus, you will have protection against damage from a natural disaster. 

Consult With Us

Creating a commercial insurance policy can be a confusing process for new business owners. Talk with The Mitchell Agency LLC in Alabama, as an agent can assist in gaining the protection needed for your business. Our staff wants to create an effective policy that fits your commercial insurance needs. Call and set an appointment today.

Anyone who lives in the state of Alabama likely knows that owning a home has been a great investment over the past decade. As many people have enjoyed property appreciation, they likely also enjoy having a consistent place to call home. Along with purchasing a home, you also need to get the proper insurance for it. There are various reasons why you need to have a home insurance plan when buying a property here.

Cover Your Asset

 A primary reason to have insurance for your home is so you can cover your assets. Your property is likely one of the most significant investments that will ever be made. Because of this, you need to do all that you can to protect it. Home insurance is a great way this can be done as it will give coverage against many different risks, including if your property is damaged by a fire or other risk.

Meet Obligations for Insurance

A property owner in the state also likely has taken out a mortgage when they purchased a home. If you do purchase a property and use a mortgage, you will need to meet any standards that are set by your lender. For many property owners, this includes having a full home insurance plan at all times and likely having payments escrowed each month.

We Are Here To Help

Getting insurance for your property in Alabama is extremely important. When you are looking for a new plan here, you should call our team of professionals at The Mitchell Agency LLC. When you work with our team at The Mitchell Agency LLC, you will learn all that you need about home insurance including the benefits and coverage options. Based on this guidance, you will be able to build a plan that properly meets your needs.

Wind coverage insurance is a vital component of your homeowners’ insurance policy, especially if you live in an area prone to wind-related risks. To help you better understand this coverage, The Mitchell Agency LLC in Alabama has compiled a list of frequently asked questions about wind coverage insurance.

What Does Wind Coverage Insurance Include?

Wind coverage insurance typically covers damage caused by strong winds, tornadoes, and hurricanes. It can include repairs to your home’s structure, as well as coverage for personal belongings and additional living expenses if you need to temporarily relocate due to wind-related damage.

Is Wind Coverage Insurance the Same as Flood Insurance?

No, wind coverage insurance and flood insurance are not the same. Wind coverage insurance primarily deals with damage caused by wind, including wind-driven rain. Flood insurance, on the other hand, covers damage from rising water, whether it’s due to heavy rainfall, storm surges, or other water-related events. It’s essential to consider both types of coverage if you live in a hurricane-prone area.

Do I Need Wind Coverage Insurance?

The need for wind coverage insurance largely depends on where you live. If you reside in an area with a high risk of wind-related damage, such as coastal regions, it’s highly advisable to have wind coverage insurance. However, even in areas with lower risk, it can still be a valuable addition to your homeowners’ policy for added peace of mind.

Schedule A Consultation Today

Understanding wind coverage insurance is essential for protecting your home and personal belongings in the event of wind-related damage. It’s crucial to know what this insurance includes, how it differs from flood insurance, and whether it’s necessary based on your location. If you have any other questions about wind coverage insurance, call The Mitchell Agency LLC in Alabama.

The Mitchell Agency LLC believes that your small business is unique. Your business doesn’t have the same needs as other Alabama businesses, and that should be reflected in your insurance policies. We can help you assess your risks so you have the coverage you need without purchasing coverage you don’t need.

Business Owners Policy (BOP)

Many small businesses choose to use a BOP as a way to save money and streamline their insurance procedures. A BOP usually has general liability insurance, commercial property insurance, and business income and extra expense (BIEE) coverage. BIEE coverage will protect you if your business is temporarily closed because of a covered loss, such as damage from a fire. 

If you do not have BIEE coverage, you can purchase a temporary business closure policy separately.

Why Do You Need Temporary Business Closure Protection?

When your business is closed, you can’t make any money, but you usually have the same expenses and bills. You still have to pay for your property, your utilities, and even your insurance. If you have employees, you need to keep paying them even when you aren’t getting paid yourself.

Your temporary business closure coverage will help to compensate you for your lost income. You will need to be able to document how much money you should be making during the closure. Talk to your agent when you purchase your policy about how to document that.

Reach Out To Us

Protect your small Alabama business. You don’t want to suffer a major setback over something you can protect yourself from. If you would like to talk about business interruption insurance, or if you have any other questions about your commercial insurance, please call The Mitchell Agency LLC today.

If you ever have to file a claim for the loss of content in your home, you will be very grateful that you have taken the time to make and store a home inventory. At The Mitchell Agency LLC in Alabama, we are here to support our customers from the first day. As independent insurance agents, we work for our customers, not the insurance companies, and we make sure we do what is best for you. 

Making and storing a home inventory

Grab your pen, pad, camera, or phone, and decide which room you would like to start your inventory in. Start writing down everything that you see in as much detail as you can. You should include the brand, model, and serial number if that makes sense to what you are adding. For example, don’t just say one chair. Say one La-Z-Boy, recliner, blue with wings. Not just a Chromebook, say an Acer Chromebook 314.  The more details, the better. 

Open every drawer, every closet, every cupboard, and every dresser. Include the number of items, for example in the linen closet, 12 Cannon towels, 2 sets of Queen-sized Ralph Lauren sheets, etc. This takes more time, but it is worth the effort. Go through the house room by room and don’t forget the basement and the attic. Take pictures of every room from several angles paying attention to include the most expensive items. Attach any invoices or appraisals you have for any of the items.

When the inventory is complete, you need to decide where to store it. It needs to be a safe place where it will survive if your home is destroyed. Having it in a safe deposit box away from your home is a good idea and have a copy on the cloud for ways access. 

Consult With Us

Contact The Mitchell Agency LLC in  Alabama for all your home insurance needs. 

Whether you’re selling handmade creations online or you’re running a small catering business out of your kitchen, it’s important that you protect your hard work. In many cases, commercial insurance for home-based businesses makes sense. At The Mitchell Agency LLC in Alabama, our team is here to help you rest assured that your home business is safely insured. 

Does Homeowner’s Insurance Cover Home-Based Businesses?

The short answer: not usually. 

The longer answer: typically, home insurance does not cover home-based businesses, meaning that it’s smart to take out a commercial insurance policy to protect your business. 

Consider Your Insurance Needs

It’s smart to consider the type of equipment that you need to run your business when working to figure out how much coverage you’ll need. You’ll also want to consider the level of liability coverage you’ll need, especially if you’re in a line of work where there’s a potential for client injury. If you have employees, it’s also important to ensure that you have coverage for workers’ compensation insurance. If you don’t have employees, you may want to consider purchasing disability insurance for yourself, which can help if you become seriously ill or deal with a severe injury. 

We Can Help!

You need to protect your home business, and we’re here to help. At The Mitchell Agency LLC in Alabama, we’re here to work with you to provide you with the coverage that you need. Whether you’re a solo operation or you’re working out of your home with a small team, we’ve got you covered. Reach out to us today to learn more about our commercial insurance policies.

There are many types of insurance products that you may be familiar with, including auto insurance and home insurance. But, here at The Mitchell Agency LLC, serving the state of Alabama, we have also learned that there are many types of insurance products that customers are not familiar with. One of these products is wind insurance. Read on to learn more about wind coverage insurance and when it may be beneficial for you. 

What Is Wind Coverage Insurance?

Wind coverage insurance is a type of insurance that provides protection against damages caused by windstorms, such as tornadoes, hurricanes, and severe thunderstorms. This type of coverage is not always included in standard home insurance policies, or it may have limitations or exclusions depending on the specifics of the policy. If your policy does not protect against windstorms or there are exclusions related to wind storms, wind coverage insurance may be right for you. 

When May Wind Coverage Insurance Be Beneficial to You? 

Wind coverage insurance may be beneficial in areas that are prone to high winds and severe weather, as it can help cover the cost of repairs or rebuilding in the event of damage. Without proper wind coverage, homeowners may be left with costly repairs or replacement costs, which can be financially devastating.

Reach Out To Us!

Wind coverage insurance may be right for many homeowners who live in Alabama. If you are wondering if wind coverage insurance is right for you, it is important to review your current home insurance policy and find out what is covered and what is excluded. From there, you can determine if this type of insurance is ideal for you.

Here at The Mitchell Agency LLC, we would love to help review your current home insurance policy and help you determine if wind coverage insurance is ideal for you. Reach out to us today to learn more.