How Does Liability Insurance Work?

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Liability insurance is important for any party liable or at fault for damages to someone’s property or if the insured party causes bodily damage to another person. As Bingham Insurance Group of Braselton, GA explains, liability insurance provides financial cover to the insured party as long as they do not intentionally harm someone or conduct criminal acts.

Who Needs This Policy?

Anyone who drives a car, owns a business, practices law or medicine should get this policy. In short, if you or your company can easily be sued for injuries or damages caused to another party, you should consider this cover. It protects you and the third party that can get injured as a result of your unintentional negligence.

Types of Liability Insurance

For instance, business owners are exposed to various liabilities which put their assets at risk. As discussed below, here are a few types of liability insurance.

  • Workers Compensation Insurance: This is essential coverage for anyone with employees. It protects the company against any liabilities arising from an employee sustaining an injury at the workplace or the death of an employee.
  • Product Liability Insurance: Any company manufacturing products for public use should get this type of liability insurance. It provides cover against a lawsuit resulting from death or injury caused by the product.
  • General Liability Insurance: This policy provides cover against lawsuits resulting from injuries to the public or employees, property damage caused by employees, and injuries sustained due to negligible actions of an employee. The policy may also provide cover against slander, libel, and tenant liability.
  • Umbrella Liability: An umbrella liability policy is designed to protect the policyholder against various losses. It becomes effective when the insured party has exhausted their limits on regular insurance.

Residents of Braselton, GA, who are looking to protect themselves against various liabilities can contact Bingham Insurance Group. We will help you analyze your needs and decide which policy can offer you sufficient protection.

Motorcycle Insurance Myths To Watch Out For

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Bingham Insurance Group offers coverage to the Braselton, GA community. We offer our clients flexible policies so that they can protect what matters most. We work with multiple carriers in the area to help give our clients a wide variety of choices. We are confident that we can help you find the coverage you need to protect your assets.

Motorcycle Insurance Myths to Watch Out For

During warm summers in the South, many Braselton, GA residents enjoy traveling around the area on their motorcycles. If you plan to have fun traveling around on your motorcycle, consider motorcycle insurance. Operating a motorcycle is a high risk endeavor. One small accident can turn into a disaster. Motorcycle insurance covers potential damage if you are involved in accident or if you collide with an object. Your motorcycle is also covered if someone attempts to steal or vandalize it. Here is a look at some common motorcycle insurance myths to watch out for.

One Speeding Ticket Will Ruin Everything

This is incorrect, as one speeding ticket will not cause a major adjustment to your motorcycle insurance coverage. If you have multiple accidents on your record, that may alter the terms of your policy.

I’m Not Responsible If My Friend Causes Damage

You are responsible if your friend causes property damage while operating your motorcycle. Technically, it will show up on your policy as if you have been operating the motorcycle yourself.

I’m Automatically Covered When I Store My Motorcycle

In order to fully cover your motorcycle when you aren’t using it, you need storage insurance. Storage insurance covers your vehicle if something happens during the offseason when you aren’t using it.  

Bingham Insurance Group Will Help You Protect Your Assets

Visit our website to learn more information about motorcycle insurance.

4 Add-ons to Consider For Your Boat Insurance

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While many Braselton, GA boaters like the boating experience, some become dodgy regarding boat insurance. Many shrug off boat insurance by assuming that home insurance covers their water vessels. While it’s true that home insurance protects your boat, the coverage is limited. Besides, home insurance isn’t as broad as boat insurance. For these reasons and others, you need boat insurance from Bingham Insurance Group for optimal coverage. And when you purchase a boat insurance plan, consider the below add-ons for well-rounded coverage. 

Medical payments coverage

Boating accidents aren’t as common as auto accidents, but when they occur, severe injuries and even deaths aren’t uncommon. And since treating accident injuries can be expensive, especially without health insurance, you need to consider medical payments coverage in your boat insurance. This coverage pays for medical expenses for you and your passengers, regardless of who was at fault for the accident. 

Underinsured/uninsured boater coverage

Since boat insurance isn’t mandatory in Georgia, you are likely to encounter many uninsured boaters while enjoying your boat. Unfortunately, uninsured boaters leave numerous uncovered expenses for the accidents they cause. The good news is that the uninsured boater coverage pays for your medical costs and property damage caused by a less responsible boater.

Emergency assistance

Has your car ever stalled away from home? It must have been a frustrating ordeal. The same can happen to your boat while miles away from the shore. Thankfully, if you have emergency assistance coverage, help is always a call away. Here, you get services like towing, gas delivery, and minor repairs just to get you out of the water safely.

Personal property coverage

This insurance coverage protects personal assets like clothing, fishing equipment, and other belongings from damage or loss while aboard your boat.

Boat insurance in Braselton, GA

Would you like to protect your boat with boat insurance? Please contact Bingham Insurance Group for a competitive quote. 

 

 

 

How Does Umbrella Insurance Work?

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Many home and auto insurance policy owners in the Braselton, GA area are often asked if they want to add umbrella insurance to their portfolio. If you are wondering if it is a worthwhile investment, your local agents at Bingham Insurance Group have the answers.

When You are Found At-Fault, Your Home and Auto Insurance May Not Do the Job

Umbrella insurance is designed to provide higher liability coverage.  Your home and auto insurance comes with a liability maximum that is intended to pay the injured party enough to handle their medical and living expenses for an injury or property loss due to an accident. However, if they are looking at the loss of a limb, a life-changing disability, or the resultant loss of income, they may be entitled to a larger payout. Your home and auto insurance will cap their payout at the maximum, leaving you open to a lawsuit. Many people perceive that a person living in a nice neighborhood or runs a successful business has a deep pocket to pick, making you more of a target after even a simple fender bender.

Umbrella Insurance Takes Over where the Other Drops Off

Umbrella insurance adds a larger liability limit, often in the millions. When one insurance policy tops out, your umbrella policy can cover the remaining balance of the claim. This can help you to keep your savings account intact or prevent the sale of your second home. Umbrella insurance is often an attractive addition to your insurance coverage when you own a business that is associated with higher liability risks. However, umbrella insurance will not cover an incident that is a result of illegal or criminal activities.

If you would like to learn more about umbrella insurance, give us a call at the Bingham Insurance Group serving the greater Braselton, GA area today.

Who should carry flood insurance?

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With changes that have been happening with the weather all over the country areas that have never seen a flood are in danger of seeing one. With more and more once in hundred-year floods showing up more and more people have started to wonder who should carry flood insurance. At Bingham Insurance Group in Braselton, GA, our independent agency makes sure our customers can choose from among the most reliable carriers in the business. 

Who should carry flood insurance? Anyone with even a small risk of flood damage. 

At one point in 2019 more than two-thirds of the contiguous United States was in danger of flooding and the words "rains of biblical proportions" were used to describe the condition. Combined with heavy snow in Canada and you have a recipe for disaster. 14 million people were impacted by this flooding. It is eye-opening, to say the least. 

Flood insurance is offered through the NFIP (National Flood Insurance Program) and administered by FEMA. Their policies are sold through about 60 direct service insurance carriers. In order to purchase this insurance, the community where you reside must be one of the 23,000 participating NFIP communities. If you live in a non-participating community, you still can get flood insurance through 59 WYO (Write Your Own) companies. It is still the NFIP insurance it is just written and sold using the insurance company’s branding. 

Beyond the NFIP and WHO policies, other private carriers are selling flood insurance. This private insurance offers advantages such as offering higher limits on the physical building and the content level than those allowed with the NFIP policy. They also offer loss of use coverage to help you pay for a place to stay while your home is being repaired. One disadvantage is the insurer can cancel your policy if they feel the risk is too great, NFIP insurance can’t do that. 

Contact Bingham Insurance Group in Braselton, GA for all your insurance needs. 

Do I need to get a life insurance plan?

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If you are in the Braselton, GA area, you should take the time to evaluate your personal needs when it comes to insurance. A form of insurance that a lot of people would benefit from getting is life insurance, which offers financial protection to those that you care about. There are a few reasons why people in this area of Georgia should invest in a life insurance plan. 

Protection for Dependents

The main reason that people will need to get life insurance is so they can get proper financial protection for their dependents. When you get a life insurance plan, you will have the ability to build it to have a term that covers your need and offers a certain financial insurance benefit if you were to pass away. This allows you to build a plan that can cover any end of life expenses and provide financial protection for those that you care about. 

Insurance Offers Investment Benefit

You may also want to get a life insurance plan if you are looking for an investment alternative. Those that invest in whole life insurance will see some of their monthly premiums go into an investment account that will slowly build in value. A whole life insurance plan can end up being a great conservative addition to any personal investment plan and offer financial benefits for years to come. 

Those that are looking for a life insurance plan in the Braselton, GA area should call the team with Bingham Insurance Group. There are a lot of important factors that need to be considered when you are shopping for life insurance. The team with Bingham Insurance Group can help you properly assess your needs and build a plan that gives you the right type and level of coverage. 

Is Auto Insurance Required in Georgia?

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If you are a driver in the state of Georgia, you need to make sure you have at least liability auto insurance in place because if you do not, you can face penalties.

A liability insurance policy only covers the other driver that you may become involved in an accident with and the other driver’s passengers. This type of policy will cover any injuries or property damage that you cause in an accident that is determined to be your fault and not the fault of the other driver. Along with this type of policy, you may want to obtain underinsured and uninsured auto insurance that will cover your vehicle and your injuries if you become involved in a crash with someone who did not follow the law and does not have at least liability insurance to cover damages to your vehicle and any injuries to you or your passengers.

The auto insurance agents at the Bingham Insurance Group in Braselton GA know and understand the auto insurance requirements of the state of Georgia and can help you obtain the correct policy. There are several other options when it comes to auto insurance that you may be interested in to protect the investment you have made in your vehicle.

Comprehensive Auto Insurance

If you borrowed the money to purchase your vehicle, you may be required to have comprehensive auto insurance. This type of auto insurance will cover any damages to your vehicle if you are involved in an accident, your vehicle is destroyed by a fire, vandalism, or a natural disaster, or it is stolen.

Collision Insurance

Collision insurance will pay for any damages that you cause in a collision with another vehicle or with some type of object, such as a garage door. For example, if you back into your neighbor’s garage door and cause damage to the door, collision insurance will pay for the damages to the door.

For assistance in determining what type of auto insurance policy is best for you and your situation, contact the agents at the Bingham Insurance Group in Braselton, GA to start your policy or receive a quote.

Who should get commercial insurance for their business?

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For people that aspire to be small business owners, Braselton, GA can be a great place to start an organization. Those that are here will enjoy the strong local economy and support for small local businesses. When you start your own small organization in this market, you need to make sure you get proper insurance coverage. Having this protection is needed in a variety of different situations. 

When Trying to Protect Financial Future

One of the main reasons that a business owner should invest in insurance for their company is that it can protect the financial future of the organization. If you choose to get a policy for your business, it will help to protect your business assets and mitigate liability claim risk. Ultimately, this could help to keep your company solvent if an accident occurs and you incur a loss. 

When Trying to Comply with Requirements

Another situation when a business will need to get commercial insurance coverage is when they want to comply with their insurance requirements. Any business today will have a variety of requirements that need to be met regarding insurance. If you get a full insurance policy, you can stay in compliance with insurance requirements set by your lender, investor, or other parties with an interest in your company. 

When you are going to get a commercial insurance policy in the Braselton, GA area, you will want to make sure that you get guidance and support provided by the team at Bingham Insurance Group. Those that work with Bingham Insurance Group to discuss their insurance needs can get the support that is needed to choose a policy that is right for you. The process will give you comfort that your organization is properly covered with insurance. 

Why You Need Home Insurance in Braselton GA

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For starters, home insurance in Braselton, GA is mandatory to secure a home mortgage. A bank will not give out a mortgage if the property is not insured. This is their collateral in case you stop paying your mortgage. There are many reasons why you need home insurance. At Bingham Insurance Group, we’ve outlined three of them here. Read on to learn more.

1. Liability Insurance

Think only businesses get sued when someone is injured on their property? The truth is that homeowners can also face liability. If someone is injured on your property and you don’t have home insurance, you will face hefty lawyer fees and court fees, all paid out-of-pocket. 

2. Fire Insurance

The last thing you want is to see your home or vacation home go up in smoke. But fires do, unfortunately, happen. Fire insurance is part of your standard homeowner’s policy and will help to recover the loss you ensue from a fire. Many policies will also put you up in a hotel while your home is being rebuilt.

3.Theft Insurance

To prevent theft it’s important to have a security alarm and outdoor lighting. Thieves tend to bypass houses with good security. However, even with the best of security, thieves still find a way to break in and steal what they want. If this were to happen to you, you can file an insurance claim to help recover your losses after you settle your deductible. 

To learn more about obtaining a home insurance policy for your home in Braselton, GA, contact the friendly and reputable team at Bingham Insurance Group, serving this area. Agents are standing by to take your call. 

What is included with renters insurance in Georgia?

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In the Braselton, GA area, you are going to have a lot of options when it comes to choosing housing. One form of housing that you may want to consider would be to rent your home. Those that are renters will enjoy having the flexibility of being able to move when their lease term is over and having fewer obligations when it comes to maintenance and repairs. If you do decide to rent a home, you will still have insurance needs. A quality renters insurance policy comes with several forms of coverage. 

Liability Protection

A renter will end up taking on many of the same liability risks as a property owner will. If your negligence leads to damage to the property, another unit, or even an injury of another person, you could be held liable. Fortunately, if you get a renters insurance policy, you can receive the coverage that you need to offset this risk. 

Protection for Personal Belongings

When you move into a new rental property, you will bring a lot of your personal assets. The value of these assets, which can include furniture, electronics or clothing will add up quickly. To ensure that your assets are properly covered and protected, you will need to get a full renters insurance policy. This will give you the funds necessary to repair or replace your assets if you incur a loss.

As you are looking for a new place to live in the Braselton, GA area, you should plan on discussing your renter’s insurance needs with the Bingham Insurance Group.  There are a lot of choices that come with picking a renters insurance and the Bingham Insurance Group can make the process easier to understand. When you do call them, they will offer you personalized guidance and assistance to ensure you remain covered at all times.