Commercial Real Estate Insurance and Natural Disasters

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!

Four Benefits of Umbrella Insurance

Yes, you may argue that you have liability insurance, so you don’t need umbrella insurance. But what if you experience significant disasters like legal suits or when you crash into someone’s vehicle? For your information, your other liability policies, like home and auto, only stretch to a specific limit. That’s why you need umbrella insurance to step in in case of expensive liability claims requiring higher liability insurance. With that in mind, let’s explore the benefits of buying umbrella insurance from Singh Insurance and Financial Services LLC.

  • Assets protection: If you have assets you need to protect from expensive liability claims, umbrella insurance is the way to go. Examples of costly liability claims are lawsuits that could result in thousands of dollars. Your other liability insurance will only pay up to a covered limit, and you will be required to pay the rest. Luckily, with umbrella insurance, you rest assured the policy will step in.
  • Offers additional coverages: Umbrella insurance will not only step in when your other liability plans deplete but offers additional coverage that is not included in your other policies. Some of the additional coverages umbrella insurance provides include libel, defamation, slander, and wrongful arrest.
  • Offers peace of mind: You won’t have to worry about your assets being taken away after a significant catastrophe with umbrella insurance. At least from a financial perspective, you can deal with any uncertainty that may come your way.
  • It’s affordable: Umbrella insurance premiums are surprisingly super-affordable. The fact that the policy kicks in when your other liability depletes makes the insurance affordable.

Umbrella insurance in Clermont, FL

Don’t subject your life to too much worry in the event of significant liability claims. Protect your assets by buying umbrella insurance from Singh Insurance and Financial Services LLC in Clermont, FL. Contact us today for an affordable quote. 

We look forward to helping you find protection for your assets.

Do I Need Collision Coverage on My Boat?

Are you a boat owner in Clermont, FL? If so, you enjoy spending time cruising around the beautiful lakes. However, before you set sail, it’s essential to make sure you have the proper insurance coverage. Singh Insurance and Financial Services LLC can help make sure you’re adequately covered. Here are some things to consider when determining if you need collision coverage on your boat.

Value of Your Boat

If your boat is financed, your lender will likely require you to carry this type of coverage. Even if you own your boat outright, it’s still a good idea to have collision coverage in case of an accident. The cost of repairs or replacement can be expensive, and this type of coverage will help protect your investment. Out-of-pocket expenses can add up quickly, so it’s important to have the proper coverage in place.

Type of Boat

The boat you have will also play a role in whether or not you need collision coverage. If you have a small, inexpensive boat, the cost of repairs may not be worth the price of the premium. However, collision coverage may be a wise investment if you have a larger, more expensive boat. But still, in both cases, the best action you can take is to speak with an insurance agent to guide you through the decision-making process.

Your Insurance Policy

Finally, check your boat insurance policy to see if collision coverage is already included. Some policies automatically include this type of coverage in your boat insurance, so you may not need to purchase it separately.

Singh Insurance and Financial Services LLC in Clermont, FL

If you’re still unsure if you need collision coverage on your boat, Singh Insurance and Financial Services LLC can help. We’ll work with you to determine the best insurance coverage for your needs. Contact us today to get started.

Seasonal Changes and Your Insurance

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.


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.


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.


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.

As Building Costs Continue to Grow…Should I Increase my Insurance Coverage?

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!

The Benefits of a Flood Insurance Policy in Florida

If you live in Florida, you’re likely well aware of the risk of flooding. The area is prone to severe weather, and even a heavy rainstorm can lead to flooding. That’s why it’s so important to have a flood insurance policy in place.

What is Flood Insurance?

Flood insurance is a type of insurance that covers damage caused by flooding. It’s important to note that standard homeowners’ insurance policies do not cover flood damage. That’s why purchasing a separate flood insurance policy is essential if you live in an area prone to flooding.

Your Singh Insurance and Financial Services LLC representative can help determine whether you need flood insurance and, if so, how much coverage to purchase.

What Does Flood Insurance Cover?

A flood insurance policy will cover damage caused by flooding up to the policy’s limit. That includes damage to your home, personal belongings, and even vehicles. It’s important to note that flood insurance does not cover damage caused by storms or other weather events.

How Much Does Flood Insurance Cost?

The cost of flood insurance depends on several factors, including the value of your home and the amount of coverage you purchase. However, flood insurance is relatively affordable, especially considering the cost of repairing or rebuilding your home if a flood damages it.

Doesn’t Homeowner’s Insurance Cover Flooding in Florida?

No, homeowner’s insurance does not cover flooding. You must purchase a separate flood insurance policy to be protected from flood damage. It only takes a few inches of water to cause severe damage to your home, so don’t wait until a flood is imminent to purchase flood insurance.

If you have questions about flood insurance or if you’d like to purchase a policy, don’t hesitate to get in touch with Singh Insurance and Financial Services LLC.

What to do When a Hurricane Damages Your Property

Did you know that June begins Hurricane Season? This means that along with receiving warmer weather, we are also likely to have more storms, some more severe than others. When you experience a hurricane, especially a strong one, you may receive damage to your home or your vehicle. We’re here to inform you of what to do when your car or home receives damage.

Take pictures of the damage

The first thing you should do is take pictures of the damage that has been done. You may want to wait until the storm is over because it can be dangerous being outside during a severe storm, but as soon as it is safe, take the pictures. You may also want to make a list of everything that was damaged, including the time that the damage occurred.

Keep all of the damaged property

You may have the urge to clean up and throw away some of the damaged property, but it is important to keep the damaged items until the claims adjusters’ agreement is complete. For example, if shingles were blown off your roof, don’t throw them away. Keep them until all processes are done and final.

Contact your insurance company

Once the storm has subsided and you have all of your information together, contact your insurance agent. Let them know exactly what happened and exactly what is damaged. Inform them that you have pictures and notes that you have taken and find out how to get that information to them. Your agent should be able to point you in the right direction and get you started on the repair process.

Keep receipts and documents

This may vary based on what your insurance agent says, but as a general rule of thumb, any repairs that you make, keep the receipt. You may need them to be reimbursed by your insurance company. Or if not possible, you may be able to use them elsewhere, such as for taxes.

You also want to keep the documents from the insurance agency. They may email or mail you forms that you need to complete, or even documents that state what they are going to do/have done for you. It is always a good idea to keep important documents.

We always hope that during hurricane season we do not receive any harsh weather, but we must prepare for the worst possible scenario. If you are unsure about one of your policies, or have questions regarding one of these processes, make sure to contact Singh Insurance and Financial Services. We’ll have you squared away in no time!

How To Get The Best Motorcycle Insurance Rates

Summer is here, and if you plan to hit the road on your motorcycle, you need motorcycle insurance. Under harsh economic conditions, you want to save cash on your motorcycle insurance rates. Here is how you can keep the insurance rates for your bike down in Clermont, FL.

1. Get a More Basic, Older, and Less Expensive Bike

If you want to purchase a bike, there is always the temptation to buy a big, stylish, more powerful machine that costs almost as much as a low-end car. However, the more expensive your motorcycle, the higher your insurance rates. You can improve your insurance rate by getting a more basic, older, and less expensive bike. You should also avoid modifying your bike, as most modifications will make your motorcycle insurance rates more expensive.

2. Limit Your Mileage

If you plan only to ride your bike on weekends this summer, you likely won’t be riding many miles. Singh Insurance and Financial Services LLC recommend that you try to reduce your bike’s insurance rates by choosing a plan that limits your mileage. Motorcycle insurance policies with no mileage limit are usually more costly.

3. Join a Motorcycle Riding Club

Some motorcycle insurance providers have discounted motorcycle insurance deals with bike riding clubs. The riding club membership discount can sometimes be up to 10%. Therefore, you can expect the best deal on your motorcycle insurance rates if you are a motorcycle club member. 

4. Take a Motorcycle Safety Course

An insurer will view you as a minimal-risk rider and give you the best rates if you have taken motorcycle safety classes. Therefore, you should enroll in a motorcycle safety class now.

Do you need motorcycle insurance in Clermont, FL? Come to Singh Insurance and Financial Services LLC for the best insurance deals.

Time to take the boat out! The breakdown of boat insurance.

What better time and place than Spring and Summer in Central Florida to take your boat out on the beautiful waters? While not as popular or heard of as insurances such as auto or life, boat insurance is still a great thing to have if you own a boat and plan to take it out on the waters. Because it is not as talked about, you may have some questions regarding this type of insurance. We’re here to break it down for you and tell you all about it!

The main idea behind boat insurance is the same concept of car insurance…you want protection in the event that your boat is totaled. Boat insurance varies based on how much your boat is worth as well as how much you use it and how far you plan on driving it. We would be happy to help you customize your policy to fit the needs of your circumstances and your boat.

Although the main purpose of boat insurance is to protect the boat itself, there are other aspects of coverage as well. You can get coverage for fishing equipment, roadside assistance, fuel spill costs, wreckage removal, and much more.

A further breakdown of boat insurance is explained below:

  • Bodily Injury and Property Damage Liability: This pays for damage to someone’s property or a person’s injuries, up to your coverage limit.
  • Uninsured or Underinsured Boater Coverage: This covers you if you’re involved in a collision with another boater who doesn’t have insurance or adequate coverage.
  • Medical Payment Coverage: If you or someone in your watercraft need medical care due to a boating accident, no matter who’s at fault, this coverage pays for it.
  • Comprehensive and Collision Coverage: Comprehensive coverage pays for damage to your watercraft, regardless of who is at fault, if you’re in an accident or from an event like theft, fire, or vandalism.
  • Personal Effects Coverage: Say you’re riding a jet ski and a necklace or bracelet comes loose and is lost in the water. This coverage reimburses you for the value of the lost property.

If you’re looking to receive boat or water insurance, contact an insurance expert at Singh Financial Services today. Or you can receive a quote from our website by clicking here!

Types of commercial insurance most businesses can benefit from

Owning your own business comes with an immense amount of risk. The failure rate for businesses is high, and to give yourself the best possible chance of success, you need to be able to mitigate some of the more severe dangers. At Singh Insurance and Financial Services LLC in Clermont, FL, our team is here to help you determine the types of insurance you may need to protect your business. 

Commercial liability insurance

Given the business failure rate, it is even more critical than ever to cover all the potential ways a business can fail. When your business gets sued, it can be tough to recover. If you don’t have commercial liability insurance, your business will have to pay any judgment and legal fees. Many businesses can’t survive this. 

Commercial property insurance

It is hard to operate your business if you don’t have the things you need to work on. Depending on the type of business you have, this can be store fixtures, factory machinery, office equipment, electronics, raw materials, and inventory. These are all things that commercial property insurance can help you repair or replace. If you own the building and it is damaged, this insurance can also help. Still, if you hesitate to have this coverage because you are a renter, you must consider the other things it covers beyond the physical structure. 

Workers compensation

Most states require employers to cover their employees with workers’ compensation insurance. This protects employees who are injured while performing their duties, and it also helps employers who want to not only keep their employees and who could be sued if not for this insurance. 

Contact Singh Insurance and Financial Services LLC in Clermont, FL to get the information you need to keep your business thriving for years to come.