Do All States Require Commercial Insurance?

Insurance is something that all business owners should have on their businesses. That being said, it may be difficult to figure out what type of insurance your state requires you hold. For those that live in the Auburn or Opelika, AL area, the agents with Elliott & Associates Insurance can help you determine what type of insurance you need.

Commercial insurance can protect your company from a great deal of hassle. In some instances, you will be required to have this sort of insurance coverage. The requirement for this type of coverage is dependent not on where you live, but rather on the particular lender that you used to get the money to open your business. In some cases, you are going to be required by your lender to hold a policy to help cover their interests. This means that your lender is likely to require that if you have a loan, you have to have an insurance policy in the same amount as the loan or more so that if the business is destroyed, you are still able to repay your loan.

Even if you are not required to hold a commercial policy, it is always a good idea to have some sort of insurance in place to help recover should your business be destroyed. This type of insurance is going to help protect you in a great range of instances and is going to help make sure that your business is protected as well. Going without an insurance policy may save you money each month but in the event of a tragedy, it is going to cost you far more. For those that live in the Auburn or Opelika, AL area, the agents with Elliott & Associates Insurance can help you to find the policy that is right for you.  

Is Earth Movement a Standard Coverage in Your Home Insurance?

Home insurance policies are usually referred to as “all-risk” insurance covers. While this is true in most instances, home insurance policies may not insure all risks that may cause loss of property or damage to your home. One of the commonly excluded risks is the earth movement, which excludes earthquakes.

The reason it is referred to as earth movement is that the exclusion is much wider than just earthquakes. Numerous types of moving or shifting earth are usually not covered by your insurance policy. You may be surprised to find out that some of these perils may be very difficult to insure, no matter the amount of premium you are willing to contribute. An earth movement policy is not something required in Alabama. You should, therefore, look for an insurance company such as Elliott & Associates Insurance in Opelika, AL which will take care of every need you may have.

Earth Movement Exclusions

The standard home insurance coverage’s definition of excluded earth movement extends to include shifting, sinking, contracting, or expanding earth. All these exclusions can also be combined with water or not. This implies that if you think of earth movement as seismic activity and earthquakes, you will miss out on some key exclusions that may result in large uninsured damages to your home.

  • Sinking – When the ground beneath your home settles, this is known as sinking. Poor compaction or erosion can lead to sinking.
  • Rising – This is the opposite of sinking. When the soil beneath your home rises, this is called rising. While rain or water may result in erosion, then too much water may lead to expansion.
  • Shifting – Rising and sinking usually covers the vertical movements while shifting covers the lateral movements.
  • Expanding – This complements rising earth. In fact, it expounds on the possibility of earth expanding.
  • Contracting – Sinking earth is quite the same as to contracting earth.

For a more comprehensive coverage of your home insurance, you will need to look for an insurance company such as Elliott & Associates Insurance in Opelika, AL that can walk you through the process. Reach out to our agents to learn more about your home insurance policy.

The Key to Our Success

We often hear from the insurance companies that we sell for that other agencies around the Southeast are struggling. Maybe they’ve seen a lull in one type of insurance or another. It always surprises them when we say we’ve been growing steadily. Not fast. Just steady.

We like to pat ourselves on the back about that, but deep down, we know it has much more to do with you, our clients. You put your trust in us that we will be there for you. You are loyal. Heck, we have many clients whose parents AND children have their assets insured with us.

So we just want to take a moment to say “Thank you”. Thank you for having faith in us. We don’t take that lightly. We won’t make promises we can’t keep. We will answer the phone when you call. And most importantly, we will treat you like a human being and not like a policy.