Umbrella insurance FAQs

Umbrella insurance has to be the most misunderstood insurance in the world. There always seems to be a lot of questions about this policy. At Jet Stream Insurance Group LLC in Miami Lakes, FL, we like to share our extensive insurance knowledge with our customers, which includes umbrella insurance. As independent insurance agents, we have access to more than one carrier and lots of policy options. 

What exactly is umbrella insurance?

Umbrella insurance is a policy that you purchase to supplement a policy that you already have with liability coverage. It is an excess liability. It is affordable and provides a lot of protection. 

Can you buy umbrella insurance by itself?

You need to have a policy that already has liability coverage. Types of insurance with liability coverage include:

  • Auto Insurance
  • Motorcycle Insurance
  • RV Insurance
  • Boat Insurance
  • Home Insurance
  • Condo Insurance
  • Renters Insurance
  • Commercial Insurance

Do you need to buy umbrella insurance from the same company as your other liability policies?

It is not necessary to buy the umbrella policy from the same company with whom you have your other policy. However, there could possibly be a multi-policy discount, so keep that in mind. 

Is umbrella insurance only for the wealthy?

No, umbrella insurance is not just for the wealthy. Anyone who owns a home or has assets can benefit from the additional coverage that it provides. You work hard for what you have and you should protect it. 

If I am a renter, can I get umbrella insurance?

Yes, renters insurance provides liability coverage which can be increased with an umbrella policy. It will also provide additional liability on your auto insurance if you are a driver or boat insurance if you have a boat. 

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Contact us at Jet Stream Insurance Group LLC in Miami Lakes, FL to discuss how you could benefit from adding umbrella insurance to your insurance portfolio. 

Is There A Deductible For Damages Covered By My Condominium Master Policy?

There are usually two types of deductibles. One is usually associated with physical damage and the other with a loss of money or other valuables. With the latter, the amount of the deductible usually depends on the value of the policy. 

Most policies will have a maximum deductible before the insurance company would pay up. Ensure you check with your agent before purchasing a condo master policy to confirm you know the maximum deductible amount. For inquiries, visit Jet Stream Insurance Group LLC, Miami Lakes, FL. 

Deductible For Damages: What You Need To Know

If you smoke in your condo, for instance, the building may require you to pay for the expense of removing the smell from the carpets. The amount of this cost will be included in your master policy and the cost is typically a covered occurrence. As the owner, you’re responsible for maintaining the unit in good condition, which includes ensuring that it doesn’t retain any odors. 

Ensure to read the coverage details of your condo master policy to certify that the cost of getting rid of odors is covered. Even if you purchased a condo policy, you may want to consider purchasing a separate homeowners policy that covers your entire property. A homeowners policy may be more expensive, but it will protect you against financial ruin if your condo is damaged or destroyed. 

The amount that can be deducted from damages is highly dependent on the type of damage incurred. If you are found at fault for the damage, you may be inquired to pay the full amount of the deductible. If the damage was caused to a common area, but no one was found to be at fault, then the deductible might be divided among all of the condo owners. 

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Depending on the policy, the deductible for damages may be $500 or higher. The condominium master policy usually does not include a deductible for any damages covered under the policy. Usually, the only deductible that the policyholder must pay is the deductible for the annual physical inspection of the condominium unit. For expert advice in Miami, Lakes FL, consult with Jet Stream Insurance Group LLC.

Make sure your auto policy includes uninsured driver protection!

Jet Stream Insurance Group LLC is here for the Miami Lakes, FL community. Residents in our area rely on us for all of their insurance needs, including auto policies. If you have questions about your current policy or need a new one, please call our office today.

Why uninsured driver protection is so important

Unfortunately, there are many uninsured drivers on the road in Florida. This means that when they are involved in an accident, there is no corresponding coverage for the other parties. Without uninsured driver protection, a person could be left having to pay for their own expenses.

This important coverage can help policyholders avoid being left with the financial responsibility for damages and injuries that are caused in an accident that involves an uninsured driver. Without this additional policy coverage, an accident can be catastrophic in more ways than one.

When an injury-causing accident occurs, there is enough to worry about other than medical expenses and car repairs. Unfortunately, these concerns can take center stage when it is unclear how the expenses will be paid. There is enough to get through after such an accident, that this additional stress can be overwhelming.

With the appropriate amount of protection against uninsured drivers, it is possible to protect oneself from the financial responsibility that can arise from such an incident. Now is the time to review current auto policies to ensure they have this coverage. 

Our team is on your side!

If you live in the greater Miami Lakes, FL area, you can count on the Jet Stream Insurance Group LLC for all of your insurance needs. We are here to help you obtain the right insurance protection for your needs. Call or stop by our office today to find out more.

3 Elements of Commercial Insurance

Commercial insurance is essential for any Miami Lakes, FL business owner. No matter the size or scale of your business, it’s vital to protect your investment. While there are many forms of commercial insurance, each designed to shield a company against unique risks, the following three are nearly universally useful. Jet Stream Insurance Group LLC is here to help you understand the protection your business needs. 

General Liability 

If your business injures someone or something in a way you are legally liable for, general liability insurance pays the awarded settlements up to policy limits. An umbrella policy can cover expenses that exceed these limits. 

This covers:

  • Third-party bodily injury and related medical bills
  • Third-party property damage
  • Advertising injury (libel, slander, copyright infringement, and similar)
  • Defense costs and legal fees related to the claim

Commercial Property 

Storms, fires, theft, burglary, and vandalism are risks that every business faces. These unanticipated events can damage the structure your company operates in and the equipment, inventory, furniture, and other essential property. Usually, you can choose between replacement cost or actual cash value policy coverage. The best way to decide which option works for your situation is to have your property professionally appraised and then work with your agent. 

It’s important to note that flooding typically requires a separate policy. 

Worker’s Compensation

Your labor pool represents both an asset and a risk pool. If a worker is injured on the job, worker’s compensation will pay their medical bills and some portion of lost wages, no matter where the fault lies. Florida also requires it if you have four or more employees, full or part-time.  

Call Jet Stream Insurance Group LLC today to discuss your Miami Lakes, FL business insurance policy. A professional agent will review your existing policy and business to ensure you have the commercial coverage you need.  

Top Five Reasons to Get Homeowner’s Insurance

Homeowner’s insurance is one of the most important investments you can make. It protects your home and your belongings in case of a fire, theft, or other insured disasters. Here are the top five reasons to get homeowner’s insurance today.

1. Loss of Use Coverage

When your home is damaged or destroyed, homeowner’s insurance provides additional living expenses in the immediate aftermath. This coverage typically kicks in if your house is unlivable due to a covered loss, and it pays for hotel bills, eating out, clothing costs, toiletries, etc.

2. Peace of Mind

You can never be too prepared for the unexpected. With homeowner’s insurance, you get peace of mind knowing that you’re covered if anything happens to your home or belongings.

3. Coverage for Your Belongings

You worked hard to accumulate the things you have in your home, and they’re probably worth a lot of money. Most homeowner’s insurance policies cover theft or damage to most of your belongings, up to a certain dollar amount. If you need additional coverage for anything extra special, consider increasing your policy limits.

4. Personal Liability

As a homeowner, you’re responsible for any accidents in or around your home. This liability coverage pays for injuries to other people on your property. For example, if a guest trips and falls on your steps, homeowner’s insurance would cover the medical costs.

5. Less Expensive Than You Think

The benefits of homeowner’s insurance far outweigh the costs. In most cases, you’ll continue paying an affordable monthly premium to keep this policy in place. The money you’ll save and the protection you’ll get in return make it well worth your while. Don’t wait any longer to invest in homeowner’s insurance.

Homeowner’s insurance is something you can never dismiss because it provides many benefits and helps protect you and your finances. Jet Stream Insurance Group LLC can help you find the right coverage for your specific needs in Miami Lakes, FL. Call us today to learn more.

Stay Covered While You Blaze Trails with Recreational Insurance in Miami Lakes, FL

If you live in Miami Lakes, FL, chances are you spend a lot of time outside enjoying the beautiful weather. Spending time outdoors is even more fun when you own an RV, boat, travel trailer, or personal watercraft. Make sure to protect outdoor toys with the right recreational insurance. Jet Stream Insurance Group LLC can help you determine the coverage you need and find a policy that beats your budget.

So, come to us when you want to protect your personal watercraft, ATV, toy hauler, and other recreational vehicles. We can help you get coverage for vehicles that aren’t part of your standard auto or home policy.

Learn More About Recreational Vehicle Insurance

With recreational vehicle insurance, you can protect your motorhome, travel trailers, and other RVs. The cost of coverage and how much insurance you need depend on your vehicle’s age, size, value, and use. 

Recreational insurance provides liability coverage. This coverage gives you peace of mind when you’re operating an RV. In addition, if an accident occurs, this coverage handles damage claims related to the accident.

Do I Need Coverage to Operate a Recreational Vehicle at Home?

Although there’s probably less chance of an accident when you drive an ATV or other recreational vehicle on your property, you still need insurance. Riding on trails and along the shoreline may not bring you into contact with major traffic, but there’s always a risk of an accident. So, cover your vehicles with recreational insurance before you blaze any new trails.

Recreational insurance can cover your vehicle in the event of theft or damage. So, if you need your recreational vehicle covered in Miami Lakes, FL, reach out to Jet Stream Insurance Group LLC to set up an appointment for a quote or more information on recreational vehicle coverage.

Reasons why renters insurance is a good idea?

If you are a renter, you may not even have considered that renters insurance is something that you should have. Some landlords or management companies will require you to have renters insurance, but it is not always required. That leaves you with the responsibility of making the decision to get it. At Jet Stream Insurance Group LLC in Miami Lakes, FL, we want to sit down with you and discuss the benefits of renters insurance. We can offer you choices from the top carriers in the business and having this important coverage is a good idea. 

You may be under the impression that your landlord has insurance and that is all you need. That impression will leave you with no possessions and no place to stay. Your landlord does have insurance on the building they own. It doesn’t cover your content and does nothing to protect you. You are responsible for purchasing renters insurance on your own.

Renters insurance offers a variety of coverage. It protects your possessions both in your rental and with you when you are traveling with it. It will help to replace the things that you need to live, like your furniture, clothing, and electronics. Imagine trying to have to replace all the things you use in your kitchen all at one time? It can be overwhelming. 

Renters insurance also offers liability coverage. If someone is injured while visiting your rental, you could be liable for medical bills and also be sued. If you have a dog, it will protect them as well from any bad behavior.

If your rental is damaged so badly that it is not habitable for a time, where would you stay?  With renters insurance, you will have the money you need to stay in a hotel or to get another temporary place to stay. 

Contact Jet Stream Insurance Group LLC in Miami Lakes, FL to learn more about the benefits of renters insurance. 

Should you get recreational insurance in Florida?

Anyone that is in the Miami Lakes, FL area will know very well that there are a lot of great recreational activities in the area. If you are looking to enjoy the area as well as you can, investing in a recreational vehicle can be a great option. With a recreational vehicle, you are going to be able to explore the area while enjoying your own asset. When choosing a recreational vehicle, you should also get a proper recreational insurance plan. This coverage should be obtained for a few reasons.

Get Protection for Vehicle

A reason that you need to get a recreational insurance plan is so you can protect your asset. When you are going to invest in one of these assets, you will want to ensure that you are covering it and can enjoy it for a long time. With a full insurance policy, you will have the support needed to replace or repair the vehicle if you incur some form of loss.

Liability Support

When you want to operate a recreational asset, it is important to remember that you are liable for accidents that can occur. If the accident is bad enough, this can mean covering significant property damage or medical bills. A great way to offset this risk is by investing in a recreational insurance plan as it will include a provision for your liability protection. 

Picking a recreational insurance plan in the Miami Lakes, FL area is a big choice. As you are assessing your various options, it would be a good idea to call Jet Stream Insurance Group LLC. There are many decisions to be made when looking for a plan and Jet Stream Insurance Group LLC can help you fully assess your options and pick an ideal plan. 

Florida Renter’s Insurance – What You Need To Know About Renter’s Insurance

There are many viable reasons to rent an apartment or house versus owning one.  One good reason is that you don’t have to do any upkeep to the property as that falls to the property manager or owner of the house.  Another good reason is that you don’t pay any property taxes on the residence as that too falls under the homeowner or property management.  The biggest reason to rent versus own is that you don’t have a house payment to make and don’t have to pay any home insurance.  This last reason, of course, could be argued as you do make monthly rent payments and although you can’t purchase home insurance, you can purchase renter’s insurance.  If you pay rent for your home or apartment, you should contact Jet Stream Insurance Group LLC in Miami Lakes, FL to consider your insurance options.  We will cover the reasons why renter’s insurance is vitally important to any renter of a home or apartment. 

Renter’s Insurance

The story has been told numerous times over the years and in different guises, but the story remains the same, tragedy strikes a rental property and displaces residents.  A section of a large apartment complex catches fire and many units are heavily damaged through smoke and water from putting out the fires.  The complex put up the residents in a nearby hotel for a couple of weeks on their dime as a gesture of goodwill.  After these two weeks are up, some residents struggle to find housing and replacements for what they’ve lost, other residents have no issues lining up short-term housing solutions, so…what happened?

Insurance Makes The Difference

The residents who had issues, later on, did not have renter’s insurance while the others did.  More people than you know have this false sense of security believing that their items would be insured in case of a fire or theft through the complex’s commercial insurance, this is simply not the case.  The building itself is protected (walls, rooms, structure, etc.) but not the personal effects of each resident.  The only time when commercial insurance would pay for personal items is if the complex itself was found criminally negligent in how the fire started.  This is why you should always carry renter’s insurance for any rental situation that you find yourself in.  Renter’s insurance is also much cheaper for personal items than a regular home insurance policy.  Short-term rentals and housing after a personal loss are also covered under some renter’s insurance policies as an added benefit.

Further Information

To learn more about renter’s insurance, please contact Jet Stream Insurance Group LLC in Miami Lakes, FL today!

Benefits of Getting Motorcycle Insurance

Motorcycles are becoming a popular choice of travel for numerous residents within Miami Lakes, FL, resulting in the increased purchase of motorcycle insurance. This coverage will also come in handy when your motorcycle spends considerable time in the garage, with the right cover allowing you to benefit from the proper protection measures. Below, Jet Stream Insurance Group LLC details some of the benefits you stand to gain with motorcycle insurance.

Adherence to the Law

As is the case in various states within the country, motorcycle owners are required to have motorcycle insurance to protect other motorists while on the road. Bodily injury and property damage liability are some examples that will come in handy in numerous states, with these policies covering you when you cause an accident. These will help you pay for 3rd party injuries and property damage while also helping you adhere to your state’s mandatory policies to avoid any fines.

Protects You and Your Passengers

When you get into an accident and get injured, medical bills can quickly accrue to high costs, leaving you with a financial burden. Motorcycle insurance protects you from such an occurrence and will help you pay your hospital bills. It also pays for your passenger’s treatment costs, reducing any out-of-pocket expenses. In addition to this, if you sustain significant injuries that result in loss of income, motorcycle insurance will provide you and your passengers with the necessary compensation.

Pays for Your Damage Costs

Motorcycle insurance will also help you cover your bike’s damage costs when you get into an accident or when covered perils arise. These can include collisions with other motorists and when your motorcycle is stolen or damaged by fire or hail. Your policy will provide compensation during these instances and will pay for your bike’s repair or replacement costs.

If you need help figuring out the right type of motorcycle insurance to get, contact Jet Stream Insurance Group LLC today. We will help you customize your motorcycle insurance to cover your riding needs within Miami Lakes, FL.