Protecting Your Rental Property with Short Term Rental Insurance

For Opelika AL property owners that like to occasionally rent out their property for short-term rental periods in this age of Airbnb opportunities, ensuring that you have the proper amount of insurance coverage means speaking with a qualified insurance representative.  Whether you want to take advantage of the next Robert Trent Jones Grand National tournament, or you regularly have an in-law unit available for short term rentals, our friendly team of experienced, licensed insurance agents here at Elliott & Associates Insurance have answers regarding how to protect your Opelika, AL property with short term rental insurance.

How Does Short-term Rental Insurance Protect Your Opelika, AL Property?

Normally speaking, the average homeowner looking to rent out their property on a short-term basis probably believes that they can rely on their regular homeowners’ insurance policy to cover potential damage, but short-term rental insurance coverage from Elliott & Associates Insurance.

Generally, a property owner’s standard homeowners’ insurance policy has the potential of leaving you with gaps in coverage when the property unit is utilized for short-term rental purposes.  Clearly, handing your property over to perfect strangers for the weekend probably places some stress on the typical homeowners’ insurance exclusions.  The last thing you want is to discover these gaps exist when you go to file a claim.

Contact Elliot & Associates Insurance Today

Utilizing your Opelika, AL property for additional revenue as a short-term rental is a great way to help make ends meet, but it comes at an increased risk when it comes to your existing insurance coverage.  If you wish to tap this potentially lucrative tourist market with the occasional short-term rental of your property, reach out to our team here at Elliot & Associates Insurance for the answers you need about protecting your investment.

Who needs life insurance in Opelika, AL?

Who needs life insurance in Opelika, AL?

As we grow older, our choices, hobbies, careers, and general lifestyle changes. We get married, have children, start businesses and buy insurance policies to protect what we have. One vital policy everyone strives to have in Opelika, AL is life insurance. Want to know why? Elliott & Associates Insurance has listed several types of people and how life insurance impacts their lives. Find out if you belong in any.

If you are married

Marriage comes with many financial responsibilities, especially when one spouse is not working. If you just got married, you may want to take several steps to safeguard your finances, and a great way to do this is through life insurance. Marriage means you are building another life together that may be different from what your parents had.

You have debts

Your debts don’t simply disappear once you die. Someone will have to pay for them and clear your name on your behalf. If you don’t pay your debts while alive, your co-signers, children, or parents may be forced to clear the debt for you. Life insurance creates an excellent opportunity where you can save up that money and leave it behind for your people to clear the loan for you.

You are a parent

If you are a parent in Opelika, AL, you need to organize your finances to secure your children’s future. A term life insurance policy can be an excellent way to sort college fees and pay other necessities when your children are older.

You are the breadwinner

If your spouse and children depend on your income, they will undoubtedly be in a significant financial crisis if you died and your income disappeared. Fortunately, life insurance can help support your family and provide for their basic needs, even when you are gone.

You also need to purchase life insurance if you are struggling with chronic illness or deadly incurable disease. If you are not sure which coverage to buy, Elliott & Associates Insurance is here to help. Call us today!

Benefits of an Alabama renters insurance policy

The Opelika, AL area is a very popular community for people to move to. When you come to this area of Alabama, you can enjoy a variety of valuable personal and professional benefits. One important decision that you will have to make when moving here is where to live. You likely will have a variety of great options to choose from. One option that is ideal for some people is to rent their home. If you are going to rent a property here, it is important that you get a full renters insurance policy as it can provide a number of benefits.

Coverage for Personal Assets

One of the advantages of your renter’s insurance policy is that it can provide you with coverage for your personal assets. With a renters insurance policy, you are going to get a certain level of protection that could be used to replace your personal belongings if they are stolen, damaged, or destroyed. For more sizable assets, including expensive jewelry or art, you can also get a rider to the insurance policy for specific coverage for these assets.

Coverage for Liability Protection

Another advantage of a renters insurance policy is that you will get coverage for liability. Renters often do not realize the liability risk that they are taking on at any given time. Due to this risk, you should make sure that you protect yourself as well as possible. A great way to do this is by getting a full renters insurance policy.

When you are shopping for a renters insurance policy, you should contact the team at Elliott & Associates Insurance. The insurance team at Elliott & Associates Insurance could give you the guidance that you need to pick a policy. They have helped many in the Opelika, AL area get the appropriate insurance coverage. 

6 Reasons to Choose Lake Life Insurance

If you’re living near the water, or right on a lake, you may want to consider all the benefits you can get with lake life insurance. At Elliott & Associates Insurance, we understand that lake life is different from living further away from the water and that there are unique needs and requirements to keep yourself safe and protected. If you’re in the Opelika, AL area, we want to help you get the right insurance for your needs. There are some great reasons to choose specific types of insurance for lake living situations. Here are six reasons to consider.

1. Lake living is different from living away from the water, and it presents unique challenges and benefits.

2. Living on a boat or spending a lot of time on one can mean you need to be properly insured for that lifestyle.

3. Liability coverage is vital for people who have others coming and going to their home or their boat or other watercraft.

4. Insurance needs are different on the lake, and an agent that understands that is important.

5. If you don’t live on or near the lake year-round, winterization protection can be very valuable.

6. Having flood coverage may be required due to your proximity to the water.

If you’re in the Opelika, AL area, reach out to us at Elliott & Associates Insurance today. We can help you with lake life insurance you need to feel comfortable and protected. Lake life can be a great life, but it’s much more enjoyable when you know you have the kind of insurance you need. How much coverage you require and which policies are right for you both matter. Our trusted and caring agents can help you choose policies that will give you adequate protection and peace of mind. Then you can get back to enjoying the lake and your time on and near the water.

What Are The Benefits of Lake Life Insurance?

The agents at Elliott & Associates insurance serve residents who live near Opelika, AL and enjoy what many people refer to as the "lake life". They provide a variety of insurance policies including ones that are available for individuals who live in or on the water. Houseboats, recreational vehicles, jet skis, and boats are all common items when you live near water. When you live that close to any body of water, you need to have insurance that will protect you from losses associated with that lifestyle.

Liability Insurance

If you live on a boat or spend a lot of your free time onboard a boat, you will need to have your watercraft properly insured. This includes having liability coverage to protect you against someone being injured if they are out on the water with you. Accidents do happen and can be rather costly if you don’t have the proper coverage in place at all times.

Safety First!

If you live on the shore of a lake or river, you should always take precautions to keep your friends and family as safe as possible. This means having plenty of life jackets and personal floatation devices on hand for when everyone jumps in the water for a swim. Encourage your children and guests who visit you regularly to take swimming lessons so they know how to maneuver while they are in the water. 

Residents who live in Opelika, AL and spend their lives on or near the water enjoying lake life can call the agents of Elliott & Associates Insurance if they need answers about insurance. Lake life insurance refers to the insurance needs of those who live near the water. Always make sure you have the coverage you need! Call and schedule an appointment today!