When Farm Auto Insurance is Essential

Farms require a lot of specialty equipment. This means that you might need special coverage to protect your assets in case of damage. Farm auto insurance is the best way to protect equipment like tractors, farm trucks, and personal vehicles used on the farm. Farms are extra vulnerable to disruption because crops and animals need consistency. To get the most out of your business, get insurance that protects your assets so that you can keep showing up at work for the people and things that need you.

Understanding the Plans and Options

Similar to auto insurance, farm auto insurance offers several types of coverage options. You can get coverage for collisions and defense against uninsured motorists. You can get personal injury protection and a layer of coverage for specific farm vehicles. There’s even something called gap insurance, which can help you cover the amount you might owe on a new car if you get in an accident. From medical payments to liability coverage, farm auto insurance is the solution for protecting your wheeled assets and yourself on the farm. The right package for you will depend upon your specific risks and needs. An agent can help you evaluate your options.

Farm insurance
Protect your farm with coverage for all your assets.

Types of Vehicles That Will Need Coverage

It’s important to understand the difference between plain old auto insurance and farm auto insurance. The latter is all about protecting vehicles that primarily live and work on a farm. This could include a truck, a mower, a tractor, or even a consumer automobile that’s used around the property for farm-related tasks. Farm auto insurance also protects you from liability and outside drivers who enter your farm property with their vehicles. Speak with an agent who can help you take stock of the machinery and equipment that would qualify. Together, you can assess your needs as a working farm and select coverage to defend your most important assets.

Contact Prince Insurance to learn more or get a quote. Our friendly associates are ready to help you craft a coverage plan that makes you feel great.

Insurance Plans Construction Companies Should Have

sillouhette of two men a construction platform.

Construction businesses are responsible for some of the biggest projects on the face of the planet. To successfully raise a building, a team must manage the delicate and lengthy process of planning, procurement, and building without flaw. It’s harder than it sounds! Sometimes an unexpected situation will raise additional challenges or even risks, delaying or throwing off the whole project. Insurance for construction companies is a great solution to keeping projects on track and protecting important assets. Here’s a brief overview of the types of protection you need and which threats you might face.

Best Options for Coverage

Law compliance is one of the key components of every construction project. The building must conform to regulations, whether it’s sidewalk size, the number of bathrooms per floor, or health and safety regulations onsite. Most places mandate the type of coverage required to be compliant. Large projects absolutely need strong coverage; otherwise, they put thousands of people at risk. The second key component of a construction project is employees. Employee protection is critical to attracting great talent and defending them from threats onsite. Finally, builders risk insurance is the bedrock of any major building project. It’s the insurance for construction companies that does the most legwork when it comes to protecting every aspect of the project.

Builders risk insurance is the best type of coverage for construction companies.

Threats to Buildings Under Construction

It’s scary to list them all at once, but smart project managers and developers know that it’s better to face the risks than turn a blind eye. Inclement weather could destroy part of a partially built property. Theft or vandalism could require expensive clean-up or generate bad news coverage. Faulty materials or shoddy workmanship could introduce errors that need fixing. People could fall, or materials could show up late to the site.

Insurance for production companies is important. Are you confident in your coverage? Get a quote from Prince Insurance and know for sure.

When to Get Renters Insurance

Embark on a journey to safeguard your business venture by understanding the latest trends and considerations in business insurance

If you currently rent your home or apartment, you probably rely on your landlord for a lot. They shovel the drive, they cover most repairs, and they’re responsible for keeping the property in good shape. But when it comes to bigger situations like natural disasters, your landlord probably won’t be able to help you. Renters insurance is the best way to protect your belongings if you live in a rented dwelling. If a fire or flood sweeps through your building, renters insurance can reimburse you for the loss of your items. Here’s what you need to know about getting a policy.

Who Can Get One and Popular Policy Options

Anyone who rents can get a policy! There are several types of coverage, ranging from the bare minimum to extra protection. Before you decide what’s right for you, think about what you’d have a difficult time replacing. That’s a great way to start the conversation. Your renters insurance should cover the physical items that are most precious and difficult to replace. This should include technology, furniture, and other precious items that have value on the market. Also, don’t forget your clothing! If a fire burns down your apartment, you’ll need coverage to get some new clothing. Keep in mind that some renters insurance covers you in case of theft or vandalism. If you live in a neighborhood where that’s a risk factor, then you definitely need coverage.

Home in Leadville Colorado
If you live in a rented home, make sure you have robust renters insurance.

Mistakes to Avoid

Don’t make the mistake of thinking that you don’t need renters insurance. Depending on what you need to be covered, it could be a very affordable monthly fee for peace of mind. It’s not only extremely wealthy people who need to protect their possessions. Equally, don’t make the mistake of duplicating coverage that your landlord already has. If possible, reach out to them to ask about coverage. Some municipalities and states have laws about requirements for renters insurance. Make sure you’re adhering to local laws and covering your most essential possessions.

Ready to explore your options? Contact the Prince Insurance team to find the right policy for you and your needs.

Inland Marine Insurance

truck transportation

The name is confusing, but the coverage is extremely important. Inland marine insurance has nothing to do with the sea. It got its name from the expansion of marine trade routes. It refers to coverage for inland business transportation routes and everything that makes it possible to move goods by land. If you run an import/export business or do any kind of storing or transporting of goods, then you need a strong inland marine insurance policy.

Coverage Plans and Plan Benefits

Inland marine insurance covers you against the two main types of threats to transported goods: collisions and cargo theft. If you use cars, trucks, or trains, then your goods are at high risk of being in a collision. If a vehicle were to crash, you could lose the goods on board. Equally risky is theft. In warehouses and along the transportation route, your items are vulnerable to being stolen. Many times, inland marine insurance is part of a larger comprehensive “Business Owners Policy”. But this specific type offers unique benefits in that it can cover high-value goods during transit, like construction materials, computers, medical and scientific equipment, or other essential business materials like a built-out trade show booth.

Protect your goods during transit in case of collision — get inland marine insurance.

Types of Businesses That Need Inland Marine Insurance

Still not sure if it’s right for you? If you transport items regularly via land that would be difficult to recover if lost, then you need this type of insurance. Even if you only transport them once or twice per year, it’s still smart to cover yourself if the loss would be incredibly damaging. You need it if transportation, import/export, or any type of shipping is involved in your business.

Protect your goods and your business with inland marine insurance. Contact us to get a quote for your specific business needs today.

Liability Plans for Commercial Projects

open office spaced filled with people working at their latops

Don’t start a project without robust coverage! Commercial general liability can protect you from the risks that come with commercial projects. From delayed timelines to inclement weather and injury, there are simply too many risks to count when a major project is on the line. All project managers know that it only takes a single incident to throw off a well-laid plan. That’s where commercial general liability comes in.

Avoiding Commercial Risks

Of course, the best way to avoid risk is to plan ahead. You can’t avoid natural disasters with good planning, but you can prevent lots of painful and expensive problems with diligent preparation. Insurance should be there to catch you if you fall, but good planning is the best way to avoid commercial risks. Make sure that workplace safety regulations are clear to everyone involved. Guidelines should be prominently displayed, and team members should be required to be present at a meeting at least once per week to review regulations. It’s also wise to create a culture where people feel safe reporting potential risks. If they feel like they’ll get in trouble because a flaw could kill the timeline, then you won’t hear about problems until it’s too late.

Downtown Denver
Cover the important things with a commercial general liability policy.

Tips to Follow When Choosing Commercial General Liability

To protect your project, it’s equally important that you follow up a great plan with great coverage. You’ll need a policy that offers you protection from the unique threats that your project faces. This could be weather-related to the time of year, or specific risks associated with your industry or the type of project. You have some options to choose from when it comes to the financial limit of coverage and who will be covered. Go for as much business coverage as you can afford. If you need to make the case to developers, explain what could happen in terms of being liable if anything goes wrong. Great coverage could save the day for your commercial project.

Contact our team at Prince Insurance for help putting together a comprehensive commercial general liability package.

Expand Your Insurance Menu

The world is an unpredictable place; so many different things can go wrong. It makes sense, then, why there are so many different kinds of insurance plans to accommodate this unpredictability.

As an insurance broker, it’s up to you to be able to provide as many different kinds of insurance as possible. To be able to do this, however, you first have to understand all the options available.

As an independent insurance broker agency ourselves, we’re here to help you out.

Policies for Brokers

The number of options to add to your insurance menu is greater than you might think. For example, you can offer policies for:

Firemen putting out a home fire.
Home insurance can protect you in the unfortunate event that your home catches fire.
  • Home & Auto Insurance
  • Auto Insurance
  • Home Insurance
  • Other Personal Insurance
  • Farm Insurance
  • Life Insurance
  • Recreational Vehicle Insurance
  • Additional Insurance Services
  • Coverage for Specific Industries
  • Coverage for Your Business
  • Liquor Liability Insurance
  • Coverage for Your Employees

Popular Options and Best Sellers

Naturally, some types of policies are more popular than others. In most cases, you’ll find home, auto, and life insurance to be the most sought-after. This makes sense when you think about the number of people who have homes or cars they want to protect, or loved ones they want to make sure are taken care of after their passing, compared to the number of people who need liquor liability insurance, for example.

The most popular types of policies also happen to the best selling types of policies, namely, home, auto, and life insurance.

However, as people grow older, get married, and build families, their number one priority is often the well-being of their family members. Therefore, you’ll often find life insurance policies to come out on top as your bestseller.

Selling Tips

To attract more people to your new types of policies, there are a couple of things you can do.

The first thing is to offer bundling discounts (somewhere in the area of 10%-20% is often a good start) for customers who purchase more than one type of policy at the same time. A common combination is home and auto insurance.

Another thing you can do is offer free quotes. This way, customers can check out your new types of policies risk-free. Plus, when presented with their quotes, they didn’t have to pay anything extra, and they’re much more likely to continue exploring closer and closer to purchase time.

Looking for an example of a real-life independent insurance broker agency already incorporating all of the tips above?

Check out Prince Insurance Group to learn more.

Customized Cost-Effective Insurance Solutions for Craft Breweries

Good brews, good service. The two most important elements of running a great craft brewery. You’re the experts on these things, so we won’t try to give you any advice about fermentation. But we do know how to protect your business with the right kind of insurance. From the physical equipment to employee coverage, here’s what you need to know about cost-effective solutions for craft brewery insurance.

Type of Insurance Needed to Protect a Craft Brewery

Your business is not just the bottles and the cardboard packs. It’s the brew stations, the employee break room, the front desk, the delivery vehicles, and more. To protect your entire business, you need insurance that covers the physical brewery, the actual brewing process, and your employees. If you’re interested in growing your business, then your brewery absolutely needs robust coverage. A single incident could set you back years if someone gets injured and you get a bad reputation due to not having coverage. Alternately, you could be subject to income garnishments if a lawsuit goes through. But with the right level of coverage, you won’t have to worry about any of these problems befalling your brewery.

Running a craft brewery is exciting—but risky. Protect your business with craft brewery insurance.

Benefits of Working With Prince Insurance

We have been in this business long enough to make smart recommendations. But we’re also not so outdated that we can’t help you manage modern risks. The Prince Insurance team will get to know your business first hand so that we can recommend the most comprehensive coverage. Craft brewery insurance can be complex, but we’re here to make it easy for you.

Ready to start the conversation? Contact us to learn more about protecting your craft brewery. From your equipment to your team, together we’ll find the level of coverage that works for you—and then we’ll clink to your ongoing success.

Understanding Farm Umbrella Insurance

Farm insurance

A working farm is full of excitement. It takes hard work and dedication to keep a farm running, after all. But there are also situations that you just can’t prepare for. In these circumstances, your regular farm coverage may not cover you. That would be an unpleasant surprise! Farm umbrella insurance is a smart way to cover yourself in the event that a regular policy doesn’t cover something. In other words, it stacks on top of your existing policies and can fill gaps over a specific deductible. Even if you already have some types of farm insurance, you could still benefit from farm umbrella insurance.

What is Umbrella Insurance?

Umbrella insurance is broad protection that covers you for events that existing policies do not. It fills the gaps and keeps you and your assets protected. It’s worth pointing out that umbrella insurance is a great way to protect against things outside your control. For instance, it can protect you against external claims which could garnish future income. Could your farm survive this type of situation? Another major benefit of farm umbrella insurance is that it can increase your financial coverage level. If you run a growing farm, or business is booming, then this type of insurance could be perfect for you.

livestock insurance
Farm umbrella insurance can protect the life you’ve built—and the lives that rely on you.

Why Do Farms Need It?

Ultimately, farms are unpredictable. Even if you’ve been a farmer for decades, you understand that things happen, and you just have to deal with it. If you’re lucky, and your farm has been steadily growing, then you might have reached new heights in your business. This can bring additional stress and anxiety into your life. After all, you worked hard to get here. Now you need to protect what you’ve built with the right insurance policies.

Not sure? Contact the Prince Insurance team for friendly, honest advice. We respect farmers and know how hard you’ve worked to get here. Let us help you find the right level of protection for your business with farm umbrella insurance.

Understanding Comprehensive Insurance

You’ve probably had the same policy coverage for years. You may have home, auto, and life insurance because your parents or your first employers encouraged you to sign up. But life changes. You may now have a new business, children, and new property that need protection. Comprehensive insurance is a smart strategy to protect what’s most important to you. Most policies don’t cover the small things—but the small things are often the most important. Here’s what you need to know.

Understanding Comprehensive Insurance

There are some situations that you might not be personally covered under. For instance, if you get very sick and have to pay high healthcare bills, would they be able to seize your personal possessions? If you’re working from home and someone steals your identity, do you have coverage for online fraud? Comprehensive insurance can help cover you in all the in-between situations that normal policies won’t cover. After all, we’re living in unprecedented times. Risks are high, and it’s up to you to assemble a suite of insurance coverage that works for your specific life. Don’t accept generic policies. Look for comprehensive insurance that is customized for you as an individual.

a person wearing a smart watch driving on a rainy road
Protect yourself anywhere and everywhere with comprehensive insurance.

Do I Need Comprehensive Insurance?

You might need additional types of coverage if you have exciting hobbies or if you’re particularly vulnerable to risk. For instance, you might get recreational vehicle coverage or jewelry protection. Your farm might need structural protection or crop insurance. A Prince Insurance broker can help you review your existing coverage to find the places where you might be missing protection. Plus, you could discover that bundling actually gives you more coverage at a better price.

Comprehensive insurance can help you live boldly and sleep peacefully, knowing that you have the protection you need. Ready to get a quote? The Prince Insurance team is friendly and ready to help.

When to Get Flood Insurance

If you live in an area that is susceptible to flooding, flood insurance isn’t an option, it’s a must. It’s also important to consult an updated map to see exactly where the flood zones are. Weather patterns are changing and you might discover that your home is at greater risk now than it was ten years ago. People with basements or other below-ground rooms should definitely explore flood insurance options. Remember, it’s better to get insurance now before you’re wading through water and wishing you had checked that item off your list.

Flood-Prone Areas

Low-lying areas are at particular risk for natural flooding. This can happen when the water table rises due to rain. It puts your building at risk for a few months out of the year, when water levels are higher than normal. Many states across the country experience flooding every year, resulting in millions of dollars’ worth of damage to property. However, it’s also possible that a freak storm or other incident inside your home will cause flooding. A forgetful person may leave the faucet on, or a water heater could burst. Flood insurance covers you in the event of flooding, so that you have the financial support you need to rebuild.

Floods can be scary. Get the protection you deserve with flood insurance.

Popular Options for Flood Insurance

You have some options for coverage. Generally speaking, your flood insurance will cover your dwelling and losses incurred by water damage due to flooding. You can get flood insurance for commercial and residential properties alike. It’s important to note that general home liability coverage may not include flood protection. There are lots of additional types of coverage you can get to protect your home from top to bottom. If you’re in a zone that’s susceptible to flooding, you’ll need to add flood insurance to your policy to be 100% protected.

Ready to sleep through heavy rain without blinking an eye? Flood insurance can help protect you and your home from water damage. Reach out to Prince Insurance and discover what it means to feel protected.