When you are in the San Jose, CA area, owning a home can be a great long-term investment and provide you with a consistent place to call home. If you are going to purchase a home here, it continues to be very important that you have it properly covered with insurance. While it will always give you great and important coverage, there are also several situations when someone will be required to carry a home insurance policy.
When Taking Out a Mortgage
The cost of housing in the San Jose area continues to be much higher than the national average. This makes the need to take out a mortgage an important one for most property buyers here. When you purchase a home here with a mortgage, the lender will want you to protect their collateral. Due to this, many lenders will require that you take out a home insurance policy and escrow for payments each month.
When in an Association
You may also be required to get home insurance if your home is in an association. Many San Jose property owners are subject to rules set forth by a home or condo association. If you are, you must follow them so you can stay in good standing. One way to do this is by getting a home insurance policy, which will be required by most associations.
As you are shopping for a home and insurance policy in the San Jose, CA area, it would be a good idea to speak with someone that is experienced and can provide great guidance and support. The team at Bayshield Insurance can help you understand all of your needs and options. Based on this assessment, Bayshield Insurance can also help you build and choose your situation’s ideal policy.
On a cloudy day, you take your umbrella with you just in case it rains. Umbrella insurance works similarly. You have it just in case. In San Jose, CA, Bayshield Insurance agents want you to understand umbrella insurance, so you’ll be covered when it rains.
What is Umbrella Insurance?
So, you have liability insurance, then why do you need more coverage? Liability insurance has its limits. Getting umbrella coverage is supplemental and begins where your liability coverage ends. For example, if your liability limit is $100,000 and you accidentally crash into a motorcyclist. Your liability will take care of repairing or replacing the motorcycle. It will also cover bodily injury costs, such as medical bills and lost wages. If those damages totaled to $250,000, then you’d be responsible for $150,000 out-of-pocket. If you had umbrella insurance, then it would cover the rest after your liability limits were reached.
Who Should have Umbrella Insurance?
Umbrella insurance is personal liability protection. Anyone can purchase umbrella insurance, but those who have more assets are usually the ones with the coverage. In addition to people who own property are those who have a higher risk of being sued.
- Coaches of little league sports
- Those who have small children
- Anyone who owns a swimming pool
- People who have dogs
- If you’re an athlete that can injure another person
- People who own firearms
Who’s Covered Under Umbrella Insurance?
You, your family members, and your pets are covered. Certain breeds may not be covered, so find out from your local insurance representative.
You can stop by the San Jose, CA office of Bayshield Insurance. They have independent insurance agents ready to help you with your umbrella insurance policy. They can also get you started with home, life, or auto policies as well.
Commercial insurance is not just one type of insurance. It is customized to your particular business. If you don’t have company vehicles, you don’t need commercial auto insurance. When it comes to making sure you get commercial insurance, which makes sense for your business having an insurance agent who knows you and your business helps. At BayShield Insurance in San Jose, CA, we are independent agents committed to giving our customers reliable coverage at reasonable prices.
When it comes to commercial/business insurance, some types are more common than others and more universally helpful.
Commercial liability insurance
When people visit your business location, you run the risk of someone being injured in an accident. People can also be injured by a product you create as part of your business. Being sued can cost you your livelihood if you are under-protected.
Commercial property insurance
Damage by a covered event to your business building can put you out of business temporarily and even permanently if you are not covered. This insurance covers the building itself, your inventory, office equipment, and machinery.
Business interruption insurance
If something happens that makes it impossible to do business, this insurance will help you save your business by providing the money you need for day to day expenses and salaries. Be sure to read the exclusions.
When you are looking for the right commercial insurance for your business, no matter how big or small your business is, you want to have coverage that offers you only the protection you need. At BayShield Insurance in San Jose, CA, we work with our clients to ensure the commercial policy we write for them makes sense. Come in and sit down with one of our team to discuss your need and get a free no-obligation quote.
You cannot predict when and how severe a disaster will affect your home, but you can plan for how you will recover. This is exactly why most people insure their homes. If you’re interested in keeping your home in San Jose, CA protected, consider checking out what BayShield Insurance has to offer.
Any Kind of Disaster
You never know when mother nature will rock your home and cause damage, whether to the structure or stuff inside. Home insurance can include coverage up to a certain amount when this happens. Please note that home insurance typically excludes flooding and earthquakes. Speak with our agents about those types of coverage.
An unfortunate disaster doesn’t always come from mother nature, but also people. Your property could become the target for vandalism or theft that could leave you in a financial rut. Depending on the exact terms or coverage limits, it would be wise to have a home insurance policy ready for this.
While your home is yours, there is still a legal liability for when you invite people within. Suppose you are found liable for an injury while on your property, your insurance would pay for the damages up to a certain amount instead of it coming straight from your pocket. Limits can be raised much higher than the default if your property value and lifestyle deems it necessary.
Staying Within Terms of your Mortgage
More likely than not, the terms of your mortgage will obligate you to maintain homeowner’s insurance at the risk of foreclosure. Usually, this will be done at the lender’s end, but if not, you will have to maintain your own policy.
I think you get the gist of why you need home insurance. As shopping around for a policy in San Jose, CA is quite tedious with all the options available, we’d recommended checking out BayShield Insurance to see if we have a plan that fits your lifestyle.