Insurance is an essential safeguard that everyone needs for different parts of their life. Not only is it important to find the best policy that fits your needs, but it’s just as important to find the right agency to provide you insurance. There are many agencies out there, and you may feel overwhelmed and simply not know where to begin. While we definitely recommend our agency to our readers and followers in the Florida area, today we’d like to share vital characteristics that should be at the top of your list when choosing an agency to work with. 

Treats You Like a Person, Not Simply a Number
Many insurance agencies, typically large, franchise corporations, have so many clients that they almost in a sense become desensitized to their clients and their individual needs. After a while they may even see
each of their clients as a dollar sign instead of a person with wants and needs. Going with a big corporation for your insurance might seem like the best and easiest way to go, but the truth is that a small, family-owned local agency might be more suitable for you. The goal is to find an
agent that listens to you, answers your questions, and truly goes above and beyond for all of your
requests and requirements. Consider shopping locally when it comes to your policy. 

A Company That Gives Back
When you’re in this type of business not only should you be looking out for the welfare of your
customers, but it’s also important to give back to your community. The best agencies participate in
charities, community happenings or special events like food banks, fundraisers, nonprofits, etc. This shows that the company and their workers genuinely care about people instead of just business. 

Knowledgeable and Experienced
It’s not mandatory to shop for insurance through an agency. When someone chooses to go this route,
it’s because they’re seeking guidance and advice. They want their questions answered and want to be
pointed in the right direction. If you’re looking for someone with extensive knowledge of the
insurance industry and experience with guiding other customers on the right path, you’re in the right place. 

Satisfied Customers
One of the first things that many people do before they go to a restaurant, buy a product, or even
choose an insurance agency is to read the reviews. In many cases, if a company has a track record of 5-star reviews, you can rest assured that you will be going somewhere you will be taken care of. The more reviews, the better! Take a moment to sift through customer reviews and see what previous customers have to say before you make a decision. 

At Singh Insurance and Financial Services, we work hard to treat our clients like friends and family. We
strive to learn about them and their needs and find the best policy for their budget and lifestyle. We give
back to our community through donations and company-initiatives. We have the knowledge and experience to provide you the service you deserve and we have tons of 5-star reviews on our Google Business Page. If you’re looking for an insurance agency you can trust here in Central Florida, you’ve found it! Contact Singh Insurance and Financial Services today to get started.

If you’re a Florida resident, or if you simply follow our social media, you’ve undoubtedly heard about the homeowners insurance crisis happening in Florida. Recently, Florida officials have been gathering to come up with solutions to fix this problem in our state. So far, they have passed two bills that are aimed to fix this problem, but experts say that it will still take time for this issue to be truly fixed.

The two bills that were passed were senate bill 4-A and senate bill 2-A. One of these bills provides millions of dollars in disaster relief to residents who have been affected from the recent Florida hurricanes. The other bill is a property insurance reform that has a goal of stabilizing the Florida market by strengthening consumer protections and increasing competition.

Apparently one cause to the state of Florida’s market is litigation. And unfortunately, certain law firms and contractors are against these attempts to fix the market because they have actually benefited from the chaotic state is has been in. Having important people against the efforts is the first reason that the process may be slower in fixing.

The next factor that is affecting and slowing down the process is reinsurance. According to a financial advisor, reinsurance is shrinking the market because insurance companies use this to protect their balance sheets. Because this is necessary and expensive, the costs may be passed down the policy holders, which still puts them in a bind of having higher rates than they deserve.

It is said that Florida residents will not be seeing any improvement in the market this year, but there is hope for the near future. More bills are being passed and officials are accepting feedback and input from Florida residents. Continue following along with our social media posts and blog posts as we keep our followers updated. As always, contact an agent with any questions or concerns about the homeowners insurance market or anything else regarding insurance or finances!

Click the link below to take a stand against Florida’s insurance market!

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Many people have a dream or a goal in life to build their “dream house” or a home that is perfect for them and their families. Building a home is a great investment, but it’s a good idea to know all there is to know about the fine details and insurance process behind new construction. Thankfully we did the research for you and all you have to do is keep reading!

Florida’s Homeowners Insurance Market

There’s no doubt that you have heard about the crisis in Florida’s property insurance right now. Many people are being dropped from their policies, have seen a dramatic increase in their payments or are even struggling to find a policy in the first place. One good thing about new construction is that it is easier and possible to obtain this type of insurance. Although, there’s more to be said about insurance and new construction.

Florida Builders Risk Insurance

Along with looking into homeowners insurance, there is also Builders Risk Insurance to be considered. This type of policy covers structures during the course of building or renovation. Make sure you evaluate how much your home is worth when purchasing a policy, and also consider that liability coverage is generally not included in this type of policy.

How much am I going to have to pay?

These two policies, homeowners insurance and builders risk insurance may be more affordable than you think. At Singh Insurance and Financial Services we can find you the best policies that fit your needs and budget. There is also a builder’s discount that can be applied to many new constructions. Let’s talk today about the right coverage to cover you and your new home.

Similar to the metaphor of an umbrella, Umbrella Insurance is there for protection. Your policy is in place to cover anything else that your normal policies would not. It can be thought of that your Umbrella Policy is there to “branch out” to all the aspects of your life. There are two main types of Umbrella Insurance and we’re here to break it down and explain them to you.

Personal Umbrella Insurance

Like it states, this type of policy is for all personal matters of your life. For example, covering your homeowner’s and automobile coverage. This type of coverage is extremely important because if you were at fault in an accident, and the opposing party received great damage with extensive medical bills, you may be responsible for some of these charges. Your typical auto policy may cover some of it, but the more damage done, and considering the possibility that the party may sue, it is ideal to have that extra protection of an Umbrella Policy in place.

Commercial Umbrella Insurance

This type of insurance is utilized for your business. All business owners should inquire and invest in this type of insurance. While many believe that simply having a commercial insurance policy will suffice, you never know what can happen or occur at your business. Whether someone is injured on your business’ property or numerous items are stolen or damaged, it’s better to be safe than sorry. Having a Commercial Umbrella Policy ensures that no matter what happens, you and your business are covered.

Now you may understand what Umbrella Insurance is, but perhaps you don’t know exactly why you would need it. Here are several reasons why you should look into this type of policy:

-You have a new driver in the family. An Umbrella policy would cover any damage or medical expenses if your teen was at fault in a car accident.

-You have a temper/aren’t good with your words. In case you didn’t already know, someone can sue you at the drop of a hat. Umbrella Insurance is essential in the event of getting sued.

-You throw a lot of parties. Did you know if you provide a guest with liquor and then they leave your house and injure someone, you could be at fault? An Umbrella Policy would help with this.

-You own a pool. We’ve mentioned before that if someone is injured at your home, they could sue but owning a swimming pool makes this risk that much higher.

-You drive a long distance to work. The longer you drive, the more likely you are to be involved in an accident. Don’t be held responsible for injuries, suffering or medical bills. Get your Umbrella Insurance policy today.

Many people simply pass up the thought of Umbrella Insurance because they believe they will never use it. Let me ask you this…would you rather purchase a policy and never use it or not have a policy and lose everything? At Singh Insurance and Financial Services, we would be happy to discuss your coverage options with you. You can send your inquiry to info@singhinsurancegroup.com today.

We will soon be eating ham and turkey around the table with our families for Thanksgiving, and Christmas, Hanukkah and Kwanza will be soon to follow. The holidays are a very busy and exciting time, and sometimes it’s possible to get so caught up in the festivities that we lose sight of things such as important insurance coverage. Our job at Singh Insurance and Financial Services is to keep you informed, educated, and covered. Therefore, we’re going to talk about some important insurance decisions you should be making and aware of during the holiday season.

Car Insurance

Obviously, car insurance is required by law, but the law does not state exactly what TYPE you must have. Many people have “full coverage” listed on their policy when they are not even fully covered. It’s easy to throw that term around and lead your clients into believing they have adequate coverage, but until you sit down with an insurance expert and truly evaluate and dissect your policy, you may be putting your family at risk. This is especially crucial as we progress into the colder months. The possibility of inclement weather increases your chances of being involved in an accident or collision. Make sure you are truly “fully covered” this winter.

Life Insurance

A common misconception of life insurance is that you have to be old or near death to begin a policy. This is simply not true! You can open a life insurance policy for an infant! In fact, it’s actually better to begin a policy earlier rather than later. Many policies allow their beneficiaries to “cash out” and receive money from their policy after a certain time, and this amount will grow over the years. Don’t think of life insurance as a precaution for when you die, think of it as a safety net for those who will live. If you’ve run out of gift ideas and are looking for something unique and special this holiday season, open a life insurance policy for someone you love!

Commercial Insurance

If you own a business, commercial insurance is a must-have. This type of insurance protects your company, your employees and your wealth. There are various types of this insurance, but the two main categories cover the business as a whole or your company vehicles. It’s highly recommended that you seek coverage for both of these to ensure security and longevity of your business. The holiday season is especially important to have this type of insurance for various reasons. To begin with, you will be receiving more traffic and more customers. While this can be seen as a blessing, it also comes with risks. More customers and foot traffic means more chance of injury and/or a potential lawsuit. Further, as unfortunate as it is, more people shoplift and steal during the holiday season. Make sure your merchandise and property are covered and insured.

While our company includes more than just these three insurances, we thought these select few to be the most prominent during the holidays. As always, Singh Insurance and Financial Services is here to help. Click here to contact us today for anything insurance or financial related!

While some may follow a pattern or stay within a season (hurricane season for example), most natural disasters come without warning and can cause many issues and much destruction, especially if you own real estate or serve as a landlord. We hope that if you own property, you have the necessary precautions set in place in the event of a natural disaster, but since these occurrences have become more common over the recent years, it may be time to look at your commercial real estate insurance.

If you are renting out your property to tenants, you should ensure that you and the tenants both have the proper insurance policies. To solidify this, you can add it as a requirement in your tenant’s lease. You can even have the insurance that your tenants take out extended to you, by requiring them to add you as an “additional insured” or “interested party” on the policy. While you may be most concerned with the physical structure of the property, you must also take into consideration the valuables that your tenants have stored within the property that could take damage too. For example, if you’re renting out an office space that contains thousands of dollars of technology or machinery, you have to make sure that is covered as well due to the fact that the items are being held in the property you own.

It’s also crucial to ensure that any policy you have for your property also covers fire incidents. A study from 2015 found that an alarming 10% of business owners filed a fire damage claim in the past several years. While that may not seem like a big number to you, these damages cost an average of $35,000 a piece. That amount can be the difference between repairs and shutting down a business. If your tenants are forced to close their small business, you may be out of a renter, and therefore, losing money.

Keep all documentation of your tenant’s insurance policies. Also ensure that the proper policies are put in place to ensure that the property and what lies within are protected in the event of a natural disaster. For example, if you live in an area that has frequent tornadoes during hurricane season, have a plan set up in advance for the event of a tornado.

Along with the policies and documentation, conduct a walkthrough through your properties. Write down or take pictures of everything, all of your assets, so in the event of a natural disaster, you know what to claim. Once you have this information, upload it somewhere safe and secure.

While natural disasters may be inevitable, this does not mean all hope is lost. By having the proper commercial real estate insurance and policies set into place, you can ensure that no matter what may happen, you and your finances will be protected. Contact Singh Insurance and Financial Services today for more information about commercial real estate!

Now that we are approaching the end of August, we will be experiencing a change in season in just the next few weeks. With seasons changing, risks develop among insurance carriers and owners of commercial insurance. We’re here to tell you about these risks so you can be prepared and make any necessary adjustments for the upcoming seasons.

Animals

Statistics show that the highest amount of animal collisions take place in the fall and winter months. Therefore, it is a good idea to take necessary precautions and make sure your insurance is up to date and par in the event that you could collide with an animal…especially in a company vehicle!

Inclement Weather

As the weather cools down there is more of an opportunity for us to experience inclement weather, including snow and ice. These two factors are the primary cause of commercial property damage during the cooler months. A heavy amount of snow can damage your company’s roof and freezing temperatures can result in frozen and potentially busted pipes.

Theft

Did you know that the Holiday’s are the most popular times for criminals to steal and commit theft? This is because many companies may close more frequently to observe holidays or special occasions as well as give their employees more time off to enjoy the season. Those who are out to steal from you know this and use it to their advantage.

Fires

Candles are popular for their fragrance and the atmosphere that they create when lit. Surprisingly, this has even become common to be used in the workplace, especially around the holidays when there are unique scents available. Candles are not permitted in commercial locations because of the risk of fire and smoke. Ensure that none of your employees are utilizing candles in the workplace.

Make sure that you and your business are prepared for what may come and for the changes up ahead. If you’re ready to review your policy, or need to make adjustments, contact Singh Insurance and Financial Services today.

Something important that you might not have already known is that building costs and your insurance are actually linked. As the cost to build increases, there is a possibility that you can encounter gaps and shortfalls in your coverage. To make sure our loyal customers are covered and prepared, we’re here to tell you what you need to know about building costs and coverage.

Among building new structures, repairing old ones and rebuilding some, many people have encountered an issue with the costs that come from these tasks. Along with the obvious increase in price of goods, we also see a decrease in the availability of many necessary items. Many contractors are finding themselves in difficult situations from signing a contract in 2020 and now having to fulfill their end with the impending economic factors at play. In only 8 months the prices of lumber have easily tripled. Considering that increase, it is easy to calculate that the price of building a home has nearly doubled.

The first example in which these factors may affect your coverage is in the event of a total loss. If you paid $250,000 for your home when you purchased it and then your home was destroyed in a fire, your insurance would provide you with the $250K to build a new one. As we stated, prices have increased, and in order to build the same home that you lost it would cost more toward $350,000. In that event, you would be out of $100,000 and would be forced to either make up the difference or perhaps even resort to a smaller house.

Another thing to consider is the time that it will take to rebuild your home. Your house was totally destroyed and is now undergoing either repairs or rebuilding…you and your family have to stay somewhere. You’re now forking out money to a hotel or perhaps a friend or family member that is allowing you and your family to stay. Further, due to the shortages, the items to repair your home are even more difficult to find, leaving you out of your home for longer and spending more time and money on temporary housing. Both of these are factors you must consider and prepare yourself for.

You might now be asking, “what can I do to acclimate for these economic changes and prepare for the worst?” There’s no need to worry, the insurance experts at Singh Insurance and Financial Services are here to help. Together we can make sure that you have the right amount of coverage and will be prepared in the event of house damages. Contact us today at 354-432-1646 today!