Do I Need Short Term Rentals Insurance?

Short term rentals insurance is designed to cover your home in the event a short term renter causes damage to it. At Elliott & Associates Insurance in Opelika, AL, we understand how important the right coverage is. We take pride in getting our policyholders the right coverage for their needs.

Does Home Insurance Cover Short Term Rentals?

Generally speaking, your homeowner’s policy doesn’t cover short term rentals. Short term rentals are considered a commercial venture, and that’s not what homeowners insurance is designed to cover. Many policies will cover "occasional" short term rentals, but you will need to call the company and discuss the meaning of "occasional" with them. Some companies also require notice before you rent your home to provide coverage. 

Can I Get Short Term Rentals Insurance?

You can likely get short term rentals insurance if you are following all the laws and regulations regarding short term rentals. If your area doesn’t allow short term rentals, no insurance policy is obligated to cover you. If there are licensing requirements or limits on how often you can rent, you will need to be in compliance with these as well. 

Do I Really Need a Separate Policy?

Some homeowners or renter’s policies may offer a rider to provide short term rentals coverage. However, if you plan on frequently providing short term rentals, you may want a policy designed specifically for them. Be sure to check coverage limits, exclusions, and limitations before you choose a policy. 

Providing short term rentals can be lucrative, but uncovered damages could quickly add up to more than your profits. It’s important to be sure that you are properly insured before offering short term rentals in Opelika, AL. Contact Elliott & Associates Insurance today, and we will help you determine the best policy for your needs.  

How Do I Know If I Need Flood Insurance?

Residents in Opelika, AL should find out if their home is in a flood plain before deciding to turn down the option of purchasing flood insurance. At Elliott & Associates Insurance, the agents can assist home and business owners in finding out if the property they own is at risk for flooding during severe storms. Having the right type of insurance in place will protect them from potential financial loss if the unthinkable occurs.

Where Is the Nearest Water Source?

If you are worried about being in a flood plain, your first step should be to find the nearest body of water. This can include rivers, streams, lakes, ponds, and drainage ditches. Just because your home or business is on elevated land, it doesn’t mean it can’t be affected by floodwaters. If you live in a low-lying area, it may not take much water to overflow the banks of whatever body of water is nearest to your home. It’s essential that you know different ways to protect your home from minor flooding. This can be keeping your drains clear and removing lawn debris from your ditches.

Find Out if Your Home Is in a Flood Plain

To find out if your home is in a flood plain, you can call your local FEMA office or talk to your insurance agent. Most agents know how to find the information you need to determine where the closest flood plain is to your home. Having that information will allow you to make an informed choice when it comes to buying flood insurance for your home.

At Elliott & Associates Insurance, the agents have the information that Opelika, AL residents need if they have concerns about living in flood-prone areas in Alabama. Talk to an agent today!

What Does Renter’s Insurance Cover?

For those renting a residence, it is always best to take the time to consider the proper insurance coverages for your particular situation. You can find the right renter policy to help you make sure your possessions are protected even if you are dealing with a catastrophe in your rental space. For those that live in the Opelika, AL area, the agents with Elliott & Associates Insurance can help you to find the right policy for your rental space.

Renter’s insurance does a few different things starting with protecting your possessions if there is a fire or other disaster in which your possessions are destroyed. Though you do not have to have any sort of insurance on the property itself, it is always beneficial to have some sort of policy in place in case your apartment or rented house catches on fire or is destroyed by some other means. It is helpful to note that a renter policy may also help cover injuries to people that you have in your residence, it may help to cover injuries to your pets, and it may also cover issues with damage that your landlord is not going to pay.

Though you are not required to have a renter policy, they are incredibly helpful in cases where something terrible happens and you are required to recover and to get back to where you were before the issue occurred. A renter policy can help you to make up for your belongings being destroyed and can certainly make it so that you do not have to start over at ground zero if something does happen to your rental property or to your items within. For those in the Opelika, AL area, the agents with Elliott & Associates Insurance can help you to find the policy that works best for you.  

Finding RV Insurance If You Love Traveling

If you own an RV in Opelika, AL, you may like taking frequent trips with it. And riding with your RV should be a fun and joyful situation but can be an issue if you don’t have great insurance for regular traveling. So please make sure that you contact us at Elliott & Associates Insurance to find a policy that features options such as those outlined below.

Full-Time Coverage 

People who live in their RV as a permanent residence need this coverage to protect themselves. Think of it as a type of home insurance to get an idea of what it covers. 

Consider Travel Expenses Coverage 

If you’re regularly on the road with your RV, you’ll want this option to help you pay for a hotel and other expenses if your RV breaks down during a trip. 

Full Liability 

Talk to your RV insurance provider about the type of liability coverage that you’ll need. Most states require a certain level, and you need to match or exceed it to protect yourself. 

Replacement Costs 

If – horror of horrors – your RV is stolen or totaled while on a trip, this coverage option will replace your RV at the price it was worth at the time it was lost. 

Uninsured Protection 

When you get into an accident with somebody who has inadequate insurance or no insurance, this coverage option will help protect you from severe financial loss. 

Other Coverage Options 

You’ll need collision and comprehensive coverage, medical payment coverage, storage protection, and much more to ensure that your RV is protected while you’re on the road. 

Talk With Us 

So if you live in Opelika, AL and need high-quality RV insurance to protect yourself from serious issues, please don’t hesitate to contact us at Elliott & Associates Insurance. We will work with you to protect your RV and keep your financial investment safe. 

Motorcycle insurance: more than just a helmet

Many motorcyclists are real motorcycle enthusiasts. They will often talk passionately about their experiences and what they don’t like; helmets. While the fact that most riders can never ride without one, it really doesn’t mean they like them. They put them on because it gives them a form of protection. 

Motorcycle insurance

If you’re passionate about motorcycles, then you probably have already figured out that a motorcycle insurance policy provides more protection than your helmet. At Elliott & Associates Insurance, we always call it a ‘more than just a helmet’ type of insurance, and in Opelika, AL, it is not just about staying safe but also a law.

Accidents happen every day, which we cannot control, and the least we can do is encourage motorcyclists always to put on a helmet and get motorcycle insurance. That way, we can be confident that you are ready to hit the Opelika AL roads doing what you enjoy most. 

The coverages

A helmet covers your head and prevents major head injuries in case of an accident. A motorcycle insurance policy on the hand protects you from a wide range of financial challenges. Here are some universal basic coverages: 

  • Bodily injury liability 
  • property damage
  • Underinsured/uninsured motorist
  • Collision
  • comprehensive
  • Medical payment 
  • Accessory coverage

The Alabama Mandatory Liability Insurance Law has outlined the amount of insurance a motorcyclist is expected to carry on the roads for one to be riding safely and legally. At  Elliott & Associates Insurance, we help you choose the most suitable policies that best fits you and make sure that you have at least the minimum insurance that is required by the Alabama law.

Call or visit us in Opelika, AL today for inquiries, quotes, policy discussion or for more information on motorcycle insurance.

Does Flood Insurance Cover the Cost of a Hotel Room During Clean Up?

Floods are acts of nature that we cannot predict and often cannot avoid. That being said, if you live in an area where the flood is common, having a supplementary flood policy is often the best way to make sure you are protected from floods or any other issue that may pop up. For those that live in the Opelika, AL area, the agents with Elliot & Associates Insurance can help you to find the right flood policy for you.

Being Away from Your Home

Aside from things like replacement and repair of your home and belongings, your flood policy also covers a range of other things. These policies help with the cost of cleanup, the cost of replacing items, and even the cost of repairs to the home after a flood. Some policies are going to cover a portion or the entire cost of a place to stay when they are working to repair and clean up their home. Most policies are going to have some sort of coverage built in to help cover the cost of the hotel room that you need to stay in while the home is being cleaned up. If you are looking for a policy that has this type of coverage, you may want to take the time to talk with an agent about what kind of coverage you have and if there are any built-in coverages for hotel costs.

In areas where flooding is common, a flood policy is a must to make sure that your home is protected and that you are not going to have to pay for the full rebuild if your home is damaged by the flood. For those that live in the Opelika, AL  area, the agents with Elliot & Associates Insurance can help you to find the right coverage for you.  

Can Someone Please Give Me a Clear Explanation of Umbrella Insurance?

When you invest in insurance policies, you will at first need to decide which types of policies you need. If you are the owner of a vehicle, then you need to get an auto insurance policy. You will need to choose an insurance company, like Elliott & Associates Insurance serving Opelika, AL, to make sure you are fully covered. Another type of insurance you may want to consider buying is umbrella insurance.

What is umbrella insurance?

Many people are confused when they hear the term umbrella insurance. Either they have never heard of it before, or they don’t understand what it is. Thankfully, though, it’s not that difficult to understand once you have someone give you a simple explanation of it.

This type of insurance is a form of extra liability insurance. It does not stand as a type of insurance by itself. Instead, it serves the purpose of paying out benefits if your regular policy is exhausted. For example, if your auto policy reaches its limit of paying out $25,000 for bodily injury. If your medical bills exceed this amount, an umbrella policy could be of the utmost benefit. It can also be used with home insurance, commercial insurance, and many other policies. It can also help you with liability and lawsuits should they arise.

Many people think that umbrella insurance is really expensive. What they don’t realize is that this insurance is not just for the wealthy. If you would like to learn more about the benefits of purchasing umbrella insurance, please contact Elliott & Associates Insurance serving the Opelika, AL area today.

How Likely Is A Flood In Alabama?

Southern states do not have it easy when it comes to flooding risks. Being this close to the Gulf of Mexico means that every Summer you need to have one eye on the weather reports so that you’ll be prepared come hurricane season. In Alabama, we can even see flooding well outside of hurricane season. Parts of the state were on warning as early as February of this year. Flooding is one of our chief environmental hazards in Alabama. It’s always going to be a concern, so it’s important to be prepared.

Preparing for Hurricane Season

Being prepared means having an evacuation plan should the next hurricane season be a rough one. Having friends you can stay with should something happen is important, as is making sure that you have flood insurance. Elliott & Associates Insurance can help to make sure that you are covered in the event of flood damages, but no matter who you get covered with, make sure to get covered.

From Auburn to Opelika, AL, the humid climate, and natural surroundings can make flooding particularly disastrous. It can take weeks to dry out a home that has been hit by flooding. This is not to say that you will definitely be hit by a flood at some point or other, but you are always going to be at a higher-than-average rate of risk for flooding. Call Elliott & Associates Insurance in Opelika, AL, have a backup plan, and be ready should your home wind up a casualty of hurricane season. Our agents are standing by to talk to you about how you can start your flood insurance policy.

How to Tell if You Need Commercial Insurance for Your Business

Owning a business is something that is very exciting and exhilarating. However, it can also be very stressful. As a business owner, you want to do everything that you can in order to protect your business from anything possible. There are a lot of things that you can do to provide this kind of protection. However, the best thing you can do for your business in Auburn or Opelika, AL is get a commercial insurance policy from Elliott & Associates Insurance. If you are still not sure whether you need a policy or not, consider some of the benefits and reasons below.

Commercial Insurance for Your Business

The great thing about a commercial insurance policy is that they are all unique and made to fit the specific needs of the business. That means that a commercial policy that you get will be made for your business and provide all of the types of coverage that you need. A commercial insurance policy will also not only protect your business from things like a fire or a burglary, it can also protect you from your employees and also protect your employees in the process. It is the type of insurance policy that is multi-faceted and made to protect you from all kinds of things that can happen. You do not want to get caught without this type of coverage because without it, and there are things can destroy and/or bankrupt your company in the blink of an eye.

Now that you know how important a commercial insurance policy is for your business, you need to get one in place as soon as possible. Be sure to reach out to us here at Elliott & Associates Insurance, serving Auburn and Opelika, AL, today. We can provide you with a free quote and will make sure that your policy meets your needs and your budget.

6 Things You Must Do Immediately After an Accident

Photo by fourbyfourblazerLogistics and legal requirements are the last things anyone wants to deal with as soon as they are involved in a crash. But we’ve seen too many examples of hundreds of thousands of dollars being lost from not taking these steps.

  1. Stop and assist anyone injured. Make sure everyone is okay and out of harm’s way before any logistics are taken care of. Assessing the situation will also let you know what to tell the police when you call. However, unless you are a medical professional, do not provide medical assistance. That includes moving someone who may have injuries.
  2. Call the police. This seems like a no-brainer. But you may be tempted in minor incidents to trade information with the other driver and handle things without seeing a need for police involvement. But the position you might find yourself in is that there is no objective party involved. Facts can be misconstrued when it’s your word against someone else’s.
  3. Take pictures of the accident before moving vehicles. This will make sure facts can be backed up with visual evidence. It’s best to get shots of all vehicles involved from multiple angles as well as close-ups of the damage incurred.
  4. DO NOT admit fault (even if you are 100% sure you are guilty). The kindness that was instilled in us growing up will want us to respond to an accident with something like this: “I’m so sorry! This was completely my fault. I wasn’t paying enough attention.” The accident may be your fault, but don’t let your perception of the situation (or your abundant politeness) cloud your judgement.
  5. Get contact and insurance information from all drivers involved. Also, get tag number and make and model of the other vehicle(s). The easiest way to get most of this is to snap a picture of all licenses, tags and insurance IDs with your cell phone.
  6. Finally, call your agent. This doesn’t have to be done immediately afterwards. But don’t let it linger more than 24 hours. Of course, if you don’t have an agent, call your insurance company directly.

This is a time when we will point out the benefit of having an independent agent. Independent agents will advocate for you. We do not work for the insurance company. We can hold insurance companies accountable and follow up on your behalf. If they get something wrong, it won’t be up to you to call them to the table on it.