Required Commercial Insurance Policies in Pennsylvania

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In Pennsylvania, businesses are required to have two different commercial insurance policies in most cases. These policies are required to legally do business in Pennsylvania, but other commercial insurance types are recommended for businesses of every size. If you need commercial insurance, contact us at Griffith Insurance LLP in West Chester, PA to find out more about these policies. 

Commercial Auto Coverage

As many do, if your business owns a car, it cannot be covered by a personal auto insurance policy. It must have a commercial auto insurance policy in place. This comes with specific minimum coverage amounts for liability for bodily injury for one person as well as a different amount of bodily injury liability for everyone injured or killed in the accident. This insurance must also have a specific minimum amount of coverage for any property damage you are liable for. A specific amount for medical benefits is also required. These minimum amounts are relatively small, and getting more insurance coverage is often recommended for businesses. 

Workers’ Compensation Coverage

If your business has any employees who are not business owners, each of these has to be covered by workers’ compensation insurance. This type of coverage covers your liability for medical bills if the employee should get sick or injured while at work. It is protection for the business, as it pays out those bills you’re liable for. It also protects the employees, as it provides money for their medical bills if they should become sick or injured.

Get Your Commercial Insurance

If you own a business, it should never be without its required insurance. The risk of lawsuits and sky-high medical bills is too much. If you need commercial insurance policies, call us at Griffith Insurance LLP in West Chester, PA to get started.

Do I need home insurance in Pennsylvania?

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People that live in the West Chester, PA area often choose to purchase their own home as it offers many different short and long-term benefits. For those who do live in this area of the state, investing in a home insurance policy is a great option if you choose to purchase a home. There are several reasons that the typical owner will need to have a quality home insurance policy in place. 

Insurance Offers Liability Coverage

One reason that you will want home insurance is that it will give you liability protection. As a property owner, you are going to take on some level of liability risk regularly. You could be found liable if someone is hurt while on your property or if you or your home causes damages to another home. If you get a proper home insurance policy, you will receive the coverage needed to mitigate this risk.

Coverage is a Requirement

You will also want to get home insurance because it is commonly a requirement. Anyone in this area that takes out a mortgage will have to comply with their lender’s insurance requirements. A mortgage lender will have specific home insurance requirements, which are designed to protect the bank’s collateral. In many cases, you will have to fund an escrow account each month to ensure coverage remains in place. 

When you move to West Chester, PA, and want to protect your property, you should call Griffith Insurance LLP as soon as you can. The insurance professionals with Griffith Insurance LLP will understand how this type of insurance can protect you. We can also assess your individual situation and figure out how to build a policy that will properly meet all of your needs. 

Three reasons why you need flood insurance

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We offer flood insurance policies in West Chester, PA at Griffith Insurance LLP. There are numerous reasons why it’s important to have flood insurance. The following are three reasons why you need flood insurance to cover your Pennsylvania home.

Floods can cause extensive damage to a home.

Homeowners need to understand just how damaging a flood can be. A flood can cause damage in numerous ways.

Flooding can cause water damage in a home. This can lead to mold growth as well as structural weakness in a home. Flooding can also cause damage to a home’s plumbing and sewage system. 

These are just a few of the possible types of home damage that flooding can cause. 

Floods are America’s most common natural disaster.

American homeowners need to understand how common flood damage is to homes in this country. In fact, floods are the most common of all-natural disasters in the United States.

Even if you don’t live in a flood zone, flood damage poses a real threat to the value of your home. That’s one of the key reasons why you need flood coverage. 

Flood insurance might be more affordable than you thought. 

Another reason why it’s good to buy flood coverage is that it isn’t always particularly expensive. This is especially true if you can get flood insurance that’s subsidized by FEMA. FEMA helps American homeowners who meet certain requirements to enjoy financial coverage for flood damage. 

It’s important to understand your options when you’re buying flood insurance in West Chester, PA. If you have questions about flood insurance, we can help you find the answers you’re seeking at Griffith Insurance LLP. Contact us to learn more. 

Protect Your Space and Belongings With Condo Insurance

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When you live in a home, you need a homeowners’ insurance policy, but what about when you choose a condo? Fortunately, you can get great coverage that’s tailored to your specific type of residence and style of living. Condo insurance protects your belongings and also the interior of your space. But it typically doesn’t cover the rest of the structure, such as the exterior of the building or the outside wall of your particular condo, because those aren’t considered yours. They belong to the condominium company or association that owns the building or is shared with other people and considered community-owned.

At Griffith Insurance LLP, we can help you with the insurance policy you need for your condo. If you’re in the West Chester, PA area, we know it’s not always easy to find the kind of quality coverage you’re looking for. We want to help with that and make sure you have the right type and level of coverage that protects your condo the right way. We also want to make sure you understand the differences seen with condo policies as opposed to traditional home insurance, so you can be an informed consumer who’s comfortable with their insurance coverage.

If you’re in or around the West Chester, PA area, reach out to us today at Griffith Insurance LLP, and let’s talk about the condo insurance policy that’s right for your needs. We’ll be ready to help you get the kind of insurance that’s best for you and make sure your belongings and the inside of your condo space are protected in ways that keep you safe now and in the future. We can also make changes to your policy if you feel you want something different or need a review of what you have, or if your life circumstances have changed.

Is RV Insurance Necessary When You Aren’t Using the Vehicle?

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Insuring Stored RVs

An RV in storage that is not being driven on roadways does not need to be legally insured. This is at the discretion of the owner. If you own your RV, there are good reasons you may want to consider keeping your car insurance up to date when you are away, such as a disaster or theft. In some situations, such as when an RV is financed, insurance may be required regardless if it is in storage or not. 

Speaking with your insurance agent can help you decide what will fit your needs if you plan to store your car. Our agents at Griffith Insurance LLP West Chester, PA are experts in all the ins and outs of auto insurance. We can help craft a policy that will be most beneficial for your stored and active RVs.

Benefits of Insuring Your Stored RV

Maintaining the insurance of your stored RV may save you money in the long run. Uninterrupted coverage, instead of a gap, might be factor insurers look at when you restart your policy. A break in coverage could increase costs overall. The short term savings may not be worth it considering this. If your RV is insured while you are away and fire or theft happens, you will have peace of mind knowing you kept your policy active.

A Trusted Insurance Agency in West Chester, PA

Contact us today at Griffith Insurance LLP in West Chester, PA to see how we can help with your auto insurance options for your stored RV. Our agents have years of experience assisting RV owners in getting the best coverage possible at affordable prices.

The Basics of Renter’s Insurance

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Landlords in Pennsylvania typicaly require renter’s insurance. And even if that wasn’t the case, it still will be beneficial to tenants to obtain it because the unpredictable can occur. Renter’s insurance in the state of Pennsylvania protects your items from typical perils, such as vandalism, theft, and fire. 

Three Types of Renter’s Insurance Coverage

There are three types of renter’s insurance: Personal property, liability, and additional living expenses. The following includes more details about these types of insurance coverage:

Personal Property

This coverage may cover the cost to replace or repair your belongings, like clothing, electronics, and furniture for up to a limit. This coverage does not usually cover personal property loss beyond the limit of your coverage.

Liability

This coverage may cover repairs to damages you may accidentally cause to another person’s property or medical bills for someone you may have caused an injury to. However, this coverage also has its limitation in coverage.

Additional Living Expenses

This typically covers additional costs you may incur, such as hotel bills if your residence is damaged and uninhabitable. However, it typically does not cover damage to the building structure you are renting from. 

Each state has its own set of rules when it comes to renter’s insurance. For instance, in the state of Pennsylvania, there is a thing where you can list your landlord as an
"additional interest" to your policy. Doing this may or may not help you, depending on your situation.

With the different rules and regulations about renter’s insurance, it is imperative to work with highly-trained, dependable, and proven insurance agents to lead you in the right direction. Griffith Insurance LLP is the way to go. Griffith Insurance LLP has been providing services for West Chester, PA, and surrounding areas for several years now. We are more than happy to assist you.

What are my life insurance options?

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Those that are in the West Chester, PA area are going to have many different insurance needs. One fundamental form of insurance that everyone should consider getting is life insurance. When you get this type of insurance protection, you will be providing financial protection for those that depend on you. If you are looking for a life insurance policy here, there are a variety of different options that you should be aware of.

Term Life Insurance 

If you are looking for life insurance, a great option is to get a term life insurance policy. When you get this type of insurance, you can build a policy that is designed to meet your needs. These policies tend to be more affordable for the amount of coverage you can receive for the term of the policy.

Whole Life Insurance

One prevalent form of life insurance to consider is whole life insurance. This is unique life insurance because it will provide you with protection for the rest of your life. The monthly premium payments for this tend to be more expensive than other options, but this insurance will also be a good investment. A portion of your monthly payments will accrue in an account that you could liquidate or use as collateral for a loan in the future.

One of the most important decisions that you will have to make will come when you choose a life insurance policy. If you are in the West Chester, PA area, you should reach out to the team at Griffith Insurance LLP. The insurance professionals at Griffith Insurance LLP can provide you with a variety of services that will help ensure you get into the right policy. This will provide your dependents with the protection that they need.

When does someone in West Chester need motorcycle insurance?

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The West Chester, PA area can be a great place to live. Those that are in this area can truly enjoy the warm summer months. When it is warm outside, a great way to spend your day is on your very own motorcycle. While this can be a fun and efficient mode of transportation, it is also an asset that you need to properly protect with insurance. There are several situations when someone in this area needs to get motorcycle insurance.

When Using Public Roads

One situation when someone here needs to get motorcycle insurance is when they want to use public roads. Those that are in this area of the state need to comply with guidelines set forth for everyone in Pennsylvania. The state rules will require that you carry liability insurance whenever using your motorcycle. Those that do not have it will not be in compliance with the law.

When a Loan is Outstanding

You are also going to need to have motorcycle insurance when a loan is outstanding. If you have taken out a loan to finance the purchase of your motorcycle, you should check with your lender regarding insurance needs. In many cases, you are going to be obligated to carry motorcycle insurance. If you do not have this type of coverage in place, you will be in violation of your loan agreement.

Picking a motorcycle insurance policy in the West Chester, PA area is a big decision. To ensure that you are picking the right policy for your situation, you should call Griffith Insurance LLP. The team at Griffith Insurance LLP can provide you with the guidance and support that you need to get into a policy that will properly protect you and your valued motorcycle. 

How Much Insurance Should I Carry On My Sailboat?

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In West Chester, PA, you are not legally required to carry insurance on your boat. This means that if you want to sail without any coverage at all, you’re allowed to do that. It’s not advisable, but it is permitted.

It’s not advisable, because a sailboat is a big investment. We’re not talking about a two hundred dollar fishing raft, but something that may have cost you twice or three times the value of your car. That’s an investment that you want to protect, so you’re going to want to get coverage. Experts generally recommend the following provisions:

  • $1,000,000 in liability coverage. You’ll typically be recommended to carry more than this if you drive a fast powered boat, but for a sailboat, this should be enough.
  • Collision and comprehensive to be based on the value of your boat.
  • Gap and replacement coverage should be considered, especially if you’re still paying your boat off.
  • Uninsured/underinsured coverage. You’ll want to discuss this with your insurer to settle on a good number, but a minimum of $10,000 is typically recommended. As we said, West Chester, PA boaters are not required to carry insurance, so you may wind up needing to tap this.

While you are legally allowed to sail to your heart’s content without insurance, it’s not advisable. There’s a lot that can happen out there on the open water, and you don’t want to be holding the bill when your sailboat suffers damages.

If you’re looking to get your boat covered, get in touch with Griffith Insurance LLP. Griffith Insurance LLP can help you to get the coverage you need so that you can cruise the waters with your mind at ease the next time you head out.

3 Ways Your Pennsylvania Business Can Benefit from an Umbrella Policy

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If you are a business owner in the greater West Chester, PA area, it’s time to talk to Griffith Insurance LLP about commercial umbrella insurance. Owning a business takes a lot of hard work and dedication, and an umbrella policy can help to protect your efforts, assets, and marketing. Don’t let a spurious lawsuit or catastrophe erase all of the hard work that you have put in over the years!

Three Benefits from an Umbrella Policy

Don’t let a significant catastrophe be the end of your business. With a comprehensive commercial umbrella policy, you can give your primary policy a boost and get the excess coverage your business needs.

  1. Fills any gaps that occur once your primary policy limits have been exceeded. Primary policies have strict protection limits, and once they have been reached, that policy won’t cover any excess damages.
  2. Protects your private assets from being affected. When your primary policy is maxed out, you can be held personally liable for damages, and your private assets may have to be accessed to cover gaps in your insurance coverage.
  3. It gives you the peace of mind you need to stay focused on your business, no matter what adverse circumstances may come your way. With a comprehensive umbrella policy, you can rest assured that you will have the protection your company needs. Your personal assets will be protected, and your business can continue to run as usual.

If your West Chester, PA area business doesn’t currently have a commercial umbrella policy, give the team at Griffith Insurance LLP a call today. We are here to answer your questions and provide information about the various umbrella policy options available to you. Make sure that your company has the protection it needs!