Mobile Homes Insurance in Salem OH: Your Questions Answered

Mobile Homes Insurance in Salem OH: Your Questions Answered

Although manufactured homes, once referred to as mobile homes, are constructed in a factory and moved to a chosen location, they aren’t that much different from a single-family home, even when it comes to insurance. So whether you live in your seasonally or year-round, it’s important to protect your home with mobile homes insurance in Salem OH.

What is a manufactured home?
Mobile homes and manufactured homes are essentially the same. A manufactured home is primarily built in a factory and then shipped to a predesignated location. Before 1976, this kind of property was referred to as a mobile home. In June of 1976,  the Housing and Urban Development division of the federal government released new building codes and changed the official name of the buildings to manufactured homes. The two terms are still used interchangeably throughout the country.

What is a mobile home?
A mobile home is a large house-type trailer that has been parked in one specific place and utilized as permanent housing.

Are manufactured homes mobile?
Once it reaches its predesignated site, a manufactured home is meant to be used as a permanent residence.

Are manufactured homes permanent?
Even though manufactured homes are moveable, they are meant to be a permanent place of residence once they are parked on their predesignated sites.

Do you need mobile homes insurance in Salem OH?
Similar to home insurance, Mobile Homes Insurance in Salem OH mandatory.

Is it harder to finance the purchase of a manufactured home?
There are many more risks associated with owning a mobile home than there are with owning a traditional site-built home. For instance, their life span isn’t as long as traditional homes and they require more maintenance. For this reason, it can be more difficult to finance a mobile home.

How much mobile homes insurance in Salem OH do I need?
The amount of insurance you’ll require is dependent on the value of your home, any attachments there are to the property, and any special features you may have.

What factors can affect manufactured home insurance premiums?

  • Home features, materials used, and age
  • Coverage deductibles and amounts
  • Where the mobile home is located
  • The homeowner’s credit rating
  • Any pets that are living in the household

Can I get mobile homes insurance in Salem OH for my older home?
There is no age limit when ensuring a manufactured home.

What does replacement cost refer to?
This is the predetermined value of your mobile home that the insurance provider is willing to pay for damage or loss.

How is the market value determined?
Market value is the value of your mobile home and is relative to the prices of mobile homes in the same market.

What is the actual cash value?
This value is the determined cash worth of your mobile home.

Whether you refer to your home as a manufactured home or a mobile home, we can help you find the best mobile homes insurance in Salem OH at the lowest available rate. Call us today and let us make the entire process fast and easy.

The DIY Projects That Will Save on Home Insurance in Ohio

The Diy Projects

Whether you believe it or not, you can actually tackle that DIY project you love on Pinterest. And what’s better, it could save you money on your home insurance in Ohio.

Home improvements, whether it’s regular repairs or remodeling to sell are part of being a homeowner. With the creative help of sites like Pinterest, it has become an even more attractive option to take on a home improvement project rather than calling in a contractor.

With proper guidance and preparation, homeowners can take on some of the biggest DIY projects without impacting their pocketbooks. Today we’re looking at some of those projects and how they can lower their home insurance in Ohio.

Heating, Ventilation, and Air Conditioning (HVAC): Updating and keeping the HVAC system in good working condition can reduce homeowner’s insurance premiums. A good rule of thumb is that if a system is more than 10 years old, insurance premiums are likely to rise.

Over time, the insulation on outdoor air conditioner lines can age, wear and eventually begin to rot. This can cost the homeowner valuable energy. A great DIY project for air conditioner repair is replacing the rotten insulation.

Roof Improvements: With the risk of damage from natural disasters and weather, the roof is one of the most important components of the home that needs to be maintained. If you live in an area known for severe weather, homeowners should invest in impact-resistant roofing. This can cut the cost of home insurance in Ohio as much as 30-40%. While many roofing repairs are best left in the hands of the experts, some repairs such as fixing a roof that has been damaged by a fallen tree can be a DIY project.

Pool and Fence Safety Improvements: Erecting a fence around the swimming pool is not only a smart insurance saver, in some states, it’s a requirement. In addition to the insurance advantage, this security measure protects the homeowner and neighbors because it decreases the chance of someone wandering into the yard and falling into the pool. And that can be a lawsuit waiting to happen.

In addition to increasing your insurance coverage and building a fence around your pool, you should keep it drained or covered when not being used. Fences also help lower the cost of home insurance in Ohio by acting as a barrier to vandalism or burglary.

Focus on Security: There are several improvements homeowners can perform for the purpose of enhancing security, many of which will lower insurance premiums. Following are some examples.

  • Installing home sprinkler systems and smoke detectors.
  • Installing shatterproof windows instead of standard window panes.
  • Putting in motion-sensor lighting.
  • Making sure all electrical wiring is up-to-date. Insurance companies pay particular attention to electrical wiring because it makes homes less likely to experience an electrical fire.
  • Leak detectors can warn homeowners of plumbing failures by using battery-operated or plug-in temperature sensors to detect furnace breakdowns which lead to frozen and bursting pipes.
  • People with homes in areas prone to severe weather can put up storm shutters, which can save the homeowner up to 30% on that portion of the insurance premium.

Before attempting any DIY improvement projects, homeowners should consult with their insurance provider for expert advice. There’s no point in wasting a lot of money if it won’t actually reduce your home insurance in OH. To be sure you have the coverage you need to protect you and your home, contact us today to get started.

Cyber Security and Your Commercial Business Insurance in Alliance

cyber Security

Like many businesses, yours may store, send, receive, or use electronic data. This data may contain information that belongs to your business, such as tax records and sales projections. It may also include information that belongs to other people, such as employees, vendors, and customers.

If this electronic data stored on your firm’s computer system is stolen, compromised, or lost, the price of restoring it can be substantial. In addition, your company may be held accountable for damages to third parties.

Your business may also sustain notification expenses if your state requires you to inform those who have been affected by the breach. You can guard your business against the costs associated with data breaches by purchasing a cyber liability policy.

What Is Cyber Liability Coverage With Your Commercial Business Insurance in Alliance?

Cyber liability insurance provides coverage for financial losses that result from data violations and other cyber events. Several policies include both first-party and third-party coverages. First-party coverages are those sustained by your company directly.

An example is damages to your company’s electronic information files caused by a hacker. The third-party coverages apply to claims against your business by people who have been damaged as a result of your actions or failure to act. For example, a client sues you for carelessness after his personal data is stolen from your system and released in an online forum.

While cyber liability policies differ from one the next, many provide comparable types of coverages. The most common are outlined below.

First-Party Coverages
: Commercial business insurance in Alliance that includes cyber protection typically includes various crime and property coverages. They also cover certain costs, such as notification expenses.

Damage or Loss to Electronic Data: Many policies cover losses caused by damage, disruption, corruption or theft of your electronic data. They also cover theft or damage of data stored on your computer system that belongs to someone else.

Loss of Extra Expenses or Income: Many policies cover income that is lost and the additional expenses you suffer to avoid or minimize a shutdown of your business after your computer system fails due to a hazard that is covered.

Cyber Blackmail Losses: This pertains to when a cyber thief or a hacker breach your computer system and threatens to commit a contemptible act.

Notification Costs: Policies may cover the cost of informing parties who are affected by the data breach and the cost of hiring an attorney to determine your company’s obligations.

Injury to Your Reputation: Some policies cover the costs you incur for public relations and marketing to protect your company’s reputation.

Third-Party Liability Coverages: Most commercial business insurance in Alliance that contain cyber coverage that applies to settlements or damages that result from the cost of defending you against claims.

Network Security Liability: This covers lawsuits against you due to either a data breach or to the inability of others to gain access data on your computer system. This can include a denial of service attack, malware, unauthorized access, or a virus and use of your system by a hacker or rogue employee.

Network Confidentiality Liability: This insurance covers lawsuits based on claims that you failed to protect sensitive data stored on your computer system.

Electronic Media Liability: This covers lawsuits against you for acts like libel, defamation, copyright infringement, slander, invasion of privacy or domain name infringement.

If you need to know if your commercial business insurance in Alliance include coverage for cybersecurity, contact our office today and we’ll walk you through was is – and isn’t – covered.

3 Scenarios That Legally Require Commercial Business Insurance in Boardman

Commercial Business Insurance

Today more than ever before, people are deciding to forgo the security of a 40-hour work week at large, established companies for the flexibility and opportunities provided by starting their own business. Today we’re taking a look at three of the most common and frequent scenarios that trigger a legal requirement for some form of commercial business insurance in Boardman.

A generational shift is occurring where modern entrepreneurs are learning they can have more control over their future and wealth by starting their own companies. However, if you have never run a business before, you may not be aware of all the things you’ll need to take care of in order to comply with the law.

Obtaining the proper commercial business insurance in Boardman is one of those things. Yes, buying business insurance, for the most part, is a practical but optional choice, but which scenarios legally require a business to have coverage in place?

Hiring Employees and Contractors: The first, and most common, the scenario that will generate a mandatory insurance requirement is the hiring of employees or independent contractors. Employee safety should always be top of mind so ensuring that your employees can recover quickly after a workplace accident or illness is imperative.

That is why every state legally requires all companies with a certain number of employees or contractors to maintain workers compensation insurance coverage. The number of employees or contractors that triggers this requirement varies by state.

It’s important to understand that employers are always responsible for all medical costs associated with an employee injury or illness that occurs while the employee is performing their job duties.

Company Owned or Leased Vehicles: Another common situation that triggers a legal requirement for commercial business insurance in Boardman is when there are any company-owned vehicles. Just like for personal auto insurance, business is legally required to hold automobile liability insurance for any vehicles owned or leased by the company.

Data Breaches: It seems like every day we are hearing about another hacking-related data breach that compromises some amount of private information from a company’s customers.

It can range from confidential corporate information like trade-secrets to personally identifiable information like credit card information or health records. These data breaches cause such a significant amount of damage to everyone involved that regulators have begun to enforce cyber liability and data security requirements in your commercial business insurance in Boardman.

Today, the executives of companies experiencing data breaches are being held personally legally responsible for the data their companies retain and failing to properly protect that data can result in hefty fines and, in some cases, even jail time for owners and executives. So, you have to be protected!

Keep in mind, these are just a few of the most common types of insurance and the scenarios that legally mandate them. There are a host of other policies that can be legally required through customer contracts or lease agreements.

It’s best to periodically review the insurance requirement clauses in your company’s policies to ensure you aren’t underinsured. So if you’re thinking about starting your own company or if you’ve already taken the leap and are nearing one of these milestones, keep us in mind. If you need help obtaining the right commercial business insurance in Boardman, call us today!

6 Often-Overlooked Business Insurance Policies in Alliance

Business InsuranceIn business, anything can happen at any time. Someone can get injured…an angry employee might sue…your database may be compromised. Not everything will be covered by your basic business insurance policies in Alliance.

Before you’re faced with skyrocketing expenses, major headaches, and unplanned threats, find out what kind of insurance you may need that you overlooked in the past.

Commercial Auto Insurance: If you use your own vehicle for business, own one or more business vehicles, or allow employees to conduct business with their personal vehicle, you may need a commercial auto insurance policy. Coverage includes damage, bodily injury, liability, collision, and comprehensive coverage. You can also add on additional options for rental reimbursement or trailer interchange coverage if needed.

Cyber Security Insurance: Consider the amount of data you have regarding your customers and employees. Now envision if your business was compromised and that information was stolen or became exposed. You have a big problem. With cybersecurity coverage included in your business insurance policies in Alliance, you’ll be able to take care of your legal responsibilities – notifying everyone affected, investigating the breach, and monitoring their credit for suspicious activity – without going broke to do it.

Employment Liability: No one ever wants to think an employee will sue their business, but it happens. Employment liability will protect you if you face accusations of wrongful termination, harassment, discrimination, or sexual harassment. The amount you’ll pay in premiums is nothing compared to court costs, attorney’s fees, or even a settlement.

Business Income and Extra Expense: You’ve got insurance to protect the building and inventory in case of fire or other disasters. But what about the loss of income you’ll experience while your business is repaired? How will you pay salaries and other regular expenses? A business income and extra expense policy will help cover those expenses for a set period of time until you’re up and running again.

Professional Liability: You and your business were hired to do a job and provide a service using your technical knowledge or skill. You’re also responsible for staying on top of the minimum standards within your field. Mistakes happen, and people fail. As a professional, you can be held liable if any damage is caused by that failure. Liability business insurance policies in Alliance protect you if that happens.

Umbrella Liability Coverage: Not every situation is covered by business insurance policies in Alliance. Some things are so unique they’ve never been considered before. When the craziest, strangest thing happens and it’s not covered under an existing policy, umbrella liability coverage may take over. It also helps cover the cost of the larger-than-expected claims that exceed policy limits by paying the difference.

There are so many insurance options for businesses, it can feel a little overwhelming. Consider your business now and how you want it to grow when deciding what coverage may be best for you.

Don’t lose your business because you couldn’t predict a disaster or lawsuit. Purchase the right insurance coverage and rest easy knowing you’re protected when the worst happens. Call our office today to discuss the details of your business insurance policies in Alliance and what insurance options are available.

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