Biggest Personal Insurance Mistakes


The world of insurance can be a confusing and scary place. There are so many things to remember, and it can be hard to know where to start. For example, there are so many different types of insurance, from life to auto to home to renters, and you could spend weeks researching each company and finding the best one.

When it comes to personal insurance, the reality is that many people are making decisions that could negatively affect their financial security. We have created a list below of some of the biggest personal insurance mistakes.

Keep your future home and family safe with the proper personal insurance coverage.

What Are the Biggest Personal Insurance Mistakes?

  1. Getting cheap insurance. Cheap insurance will usually mean that it lacks in coverage and will cost you more out of pocket if you ever need to use your insurance. Do not get cheap insurance, get insurance that provides enough coverage.
  2. Not asking about discounts. Ask your agent if there are any discounts you qualify for as a first-time home buyer or if you have been with the agency for some time. Many companies will offer discounts to clients who do business with them for a long period of time.
  3. Not working with an insurance broker who can help you determine the right insurance based on value, not price. An insurance broker can find ways to bundle your personal insurance, such as home and auto insurance. Review your insurance each year and checking to make sure that you do have coverages in place for these areas of your life.
  4. Not reading the fine print on your home and auto insurance and ending up not being fully covered.
  5. Thinking you don’t need insurance.

Get The Support You Need

Contact Prince Insurance today for a quote and avoid making any of the above biggest personal insurance mistakes.

Biggest Business Insurance Mistakes

Insurance Broker


Have you ever made a key mistake when purchasing your business insurance policy? If so, you are not alone, as most business owners make mistakes when buying their policies. No matter what kind of insurance you carry, there are a few things that you should know about the biggest business insurance mistakes that you can avoid. Whether you are a homeowner, auto owner, or business owner, there are a few things you must know about insurance in order to avoid big mistakes.

Common Errors

The biggest business insurance mistakes include the following.

1. Not knowing what your business really needs.

2. Not being cognizant of the coverage you are actually buying when purchasing a policy.

3. Not reading the policy and understanding it fully.

4. Not reviewing the policy on a regular basis (at least every three years) to be sure it is what you need.

5. Being fooled by fancy but extraneous insurance add-ons that appear necessary, when actually they are not.

6. Not understanding that often what you already have in your business or home is adequate coverage and that additional insurance may be unnecessary at the cost it will command.

Prince Insurance is here to support your business.

Always Consult Your Broker

Don’t make any mistakes with regard to your insurance coverages; always consult your broker so that you don’t accidentally get in trouble with your insurance provider. Depending on the broker you choose, the information you ask for may be different from the information you need to know.

Buying yourself without consulting an insurance broker puts you more at risk of making any of the mistakes listed above. A good broker knows your business and its needs very well. A good brokerage also has a network of companies that it works with, and the industry contacts to help find the best deals for you.

Contact Prince Insurance for a quote and avoid making the biggest business insurance mistakes.

Protect Your Business With the Right Insurance

Independent Insurance Broker

The right insurance can do more than protect your business from damage or injury. The right insurance can protect you and your business from both the big and small everyday risks that all businesses face. Protect your business by starting with understanding what you’re exposed to.

Think about it this way: what could happen in a single day that would cost thousands of dollars, or possibly more. For example, the wrong insurance coverage could expose you to a lawsuit for injuries caused by employees who were driving your company vehicle, or it could jeopardize your business operations if there were a fire at your place of business. By protecting yourself with commercial insurance policies from an independent insurance broker, you can protect against lawsuits and expenses from accidents involving you, your home, your belongings, and your business.

Protect your business to keep your operations running smoothly.

Protect and Grow Your Personal Assets Should You Be a Victim of a Crime

Protect your business from unforeseen loss due to theft, natural disasters, or other damage, including physical damage, computer viruses, and hardware failures.

Liability Insurance: Any business can experience litigation problems if it is responsible for damages caused by its employees — no matter the issue.

Work with a broker who has access to all the best carriers for the right insurance.

The right business insurance can be quite an investment, which is why it’s so important to work with a competent, independent insurance broker. An independent broker has access to all of the best carriers for the right policy at the right price.

A good broker will also answer questions such as: how much coverage do I need? It will depend on your needs, which is where an agent at Prince Insurance can help. They’ll ask lots of questions and tailor their recommendations to your situation.

Ideal Coverage

But you don’t just want insurance; you want great coverage that will protect you if disaster strikes. The good news is there are more business owner policies available today than ever before. This means you can select the precise coverage needed for your unique company or small business.

Protect your business and contact Prince Insurance today for a quote.

Essential Insurance to Start a Business

office team

When starting a new business, securing it with a solid insurance policy should be one of the first things on your list. You need to cover yourself, your employees, and your commercial property against potential damage, injury, and other potentially serious issues. 

There are several types of essential insurance to start a business. Here are a few to consider when you’re opening a business. 

Workers Compensation 

These kinds of benefits are payments that cover injuries related to the work you’re doing. It’s a no-fault type of payment that’s paid regardless of whose fault it was that caused an injury. If work is the cause of severe pain or disease you’ve contracted, you’re eligible for workers compensation. 

General Liability Insurance 

Also called business liability insurance, this essential insurance to start a business protects you from a wide range of claims, including personal injury and property damage that happens during business operations. 

Auto Insurance

For any vehicles used for your business, like delivery trucks for postal services or food establishments, it helps get comprehensive auto insurance coverage in an accident. 

Property and Casualty Insurance 

This kind of insurance focuses on property and possession loss while also including liability coverage for instances where you’re deemed legally liable for an accident that injures someone or damages belongings. 

Choose Prince Insurance for Your New Business Insurance

Every business is unique. Our brokers can help you find insurance that’s tailored to your specific needs and gives you better protection. 

Plus, we’ll have insights into additional insurance that may be necessary depending on your industry or location. 

Need essential insurance to start a business right now? Look at our business insurance options and get yourself a free quote. With Prince Insurance, you’re guaranteed business insurance that covers various scenarios and prevents your bottom line from being affected. 

Independent Insurance Broker Can Customize Your Insurance

Independent Insurance Broker

Looking for the right insurance can be tricky. All of the options can seem a bit overwhelming. When you’re looking for insurance that’s customized to you, working with an independent insurance broker is the way to go. 

Here are a few solid reasons why independent insurance brokers are a better choice.

Insurance Options to Suit Your Needs

When you buy something important like insurance, you want to shop around to make sure you’re getting the best coverage for your budget. An independent insurance agency has access to all of the highest-rated insurance carriers, so they can do the shopping for you. 

Independent Insurance Broker

They’ll give you a choice of options that are based on your needs, not the needs of an insurance company. That means finding coverage that makes sense for who you are, at a price that meets your budget restraints. 

A Complete Insurance Portfolio

An independent broker has the ability to put together a complete portfolio of insurance that suits your lifestyle. If you’re in need of multiple types of insurance, they’ll help find solutions that fit your needs. 

When you need a customized combination of personal insurance, business insurance, home insurance, and/or auto insurance, your independent broker will be able to build a portfolio with you of policies from multiple carriers. 

Proactive Insurance Management

Life is always changing. Your insurance should change with you as you make your journey through the stages of life – buying your first home, a new car, or starting a business. 

Independent agents will stay proactive in managing your insurance. They’ll make sure you’re always covered and can help you upgrade or switch your policy as you grow and your life evolves. 

Contact an Independent Insurance Broker

Prince Insurance Group is an independently owned and operated agency, and we’re here to help you find the perfect kind of coverage for your lifestyle and budget. Contact us today and see the difference that working with an independent insurance broker can make for you!

Risks of Running a Business Without Insurance

If you’re starting a new business, one of the first things you’ll want to do is consider the different types of insurance coverage you need. A business owner can protect against a number of common risks, including property damage, injury, and liability. You’ll need to protect your personal assets (your home, car, and personal belongings) from business-related liabilities, and you’ll also need coverage to protect your business assets from claims by customers and other entities.

Risks Without Business Insurance

Running a business without insurance is never a good idea. Not only can you potentially put your personal assets at risk, but you may also be putting your business at risk as well. There are several risks to running a business without insurance, including the risk of lawsuits, property loss, and liability issues. In case anything goes wrong, having business insurance could save your business.

While you may think that protecting your assets would be enough to get your business started, you can’t afford to overlook the other legal obligations that comes with opening up shop. For instance, you may need to cover your employees with workers’ compensation insurance, which is a state-mandated insurance plan that covers medical expenses and replaces lost wages in case of work-related injuries or illnesses.

office team
Insurance gives you peace of mind that you, your employees, and customers are all protected in the event of an accident occurring on the physical premises.

Business Insurance Benefits

Business insurance is not only necessary for protecting your personal assets, but there are many financial benefits of owning a business that can be protected by insurance. Business insurance protects your company’s physical assets and financial assets, including your building, equipment, inventory, and income. And it protects you from liability for personal injury and property damage.

Get a quote for a business insurance policy today.

Why You Should Never Buy Insurance On Price Alone

We all want to save money, especially when it comes to paying for insurance. Every car owner knows that they need it to drive legally. And when it comes to your home, you always hope the day will never come when you need it. The temptation is to use price as the only factor to determine which insurance broker to chose. And yet, as we’ve seen, it’s not the best way to go. This is why finding the best insurance shouldn’t be decided based on price alone.

Finding the Best Insurance

You can’t know what you don’t know. This adage, which holds true in many aspects of our lives, is especially true when it comes to insurance. When it’s time to find the best insurance for you, it pays to educate yourself on the different types of policies and insurance companies out there. The more you know, the more likely you are to find a policy that meets your needs and fits your budget.

Discussing your options with an insurance broker is the best way to make sure you’re getting the right coverage.

Potential Consequences of Getting the Wrong Insurance

If you are looking for cheap insurance, be careful. If an insurance company is very inexpensive, it might not be able to provide you with the same level of service as a more reputable company. Cheap insurance can also be a sign of a company that is not financially stable. If you choose a plan with major omissions and drawbacks, you could face serious financial consequences. For example, in the event you are at fault in an auto accident, if your insurance doesn’t cover the cost, you may be sued for the remainder. You should always do your research before getting cheap insurance. Insurance should be a safety net, not a risk.

Make sure you’re finding the best insurance for your needs. Contact an insurance broker at Prince Insurance today for a quote.

Pandemic Insurance Risks for Retail and Brick and Mortar Business Owners

Insurance Brokers

Brick-and-mortar stores, a major player in the insurance industry for the past century, are on the brink of extinction. With the rise of e-commerce, stores like big-box stores, specialty stores, and small mom-and-pop stores are all closing down at an alarming rate. Additionally, brick-and-mortar businesses were some of the hardest-hit establishments during the pandemic. As a result, these businesses have increased pandemic insurance risks and require specific business liability insurance.

How to Safely Reopen

The pandemic has increased the need for business liability insurance risks for brick and mortar and retail shop owners. When reopening, businesses have to move forward responsibly by mitigating liability exposure. This means ensuring that the business stays compliant with government regulations and by paying extra attention to changing policies, developments, restrictions, and reopening timelines. As there are increased pandemic insurance risks, merely following the rules might not be sufficient. Businesses will be expected to uphold a higher standard of care due to the serious nature of the health crisis.

As businesses begin to reopen their doors, employers have to take the necessary steps reducing liability risks related to the pandemic.

Re-evaluating Exposure

With stores reopening, it’s time to re-evaluate your business’s exposure. Due to less customer traffic and closure, exposure may have diminished, reducing rates. However, general liability may increase as you begin to open up again. Either way, businesses must reopen according to COVID-19 guidelines, with safety and health in mind to reduce exposure and pandemic insurance risks. For example, businesses must ensure that their premises are as safe as possible, and to warn of the spread of COVID-19 if their business becomes aware of cases through their contact tracing.

Contact Prince Insurance to start planning your business insurance and for advice on how to mitigate pandemic insurance risks.

Mitigate Business Insurance Risks of Working From Home

Business Insurance

With the increased popularity of remote work, companies are faced with a dilemma: do they allow employees to continue to work from home to save on overhead costs, or do they require employees to work in office environments? Either way, there are risks and benefits associated with both choices, and both choices require adequate business insurance coverage.

With remote working, there is a new wave of legal issues arising in regards to workers compensation and liability insurance for remote workers. For example, If your employees work from home, or at coffee shops, or in other remote locations, you need to make sure they protect themselves from hackers. They are more vulnerable than if they were sitting at their desks, and they need to know that their actions have real consequences.

An employer may still be found liable for events that occur to an employee in the course of employment. With the right business insurance accounting for remote workers, an employer can feel confident that their business is properly protected — regardless of where their employees are.

Working From Home Safety Risks

There are numerous safety risks associated with working from home, including the following:

  • Unsafe at-home work environments, such as environments vulnerable to events like fires, theft, and flooding
  • Injuries that occur in the home office
  • Cyber-security risks increased as remote workers may be viewed as soft targets to cybercriminals
office team
Unlike in the office space illustrated above, employers do not have control over the safety of an at-home work environment.

How to Mitigate Insurance Risks

There are many ways for employers to mitigate insurance risks and workers compensation claims:

  • Enforce at-home safety protocols
  • Instate cyber protocols to prevent cyberattacks
  • Enforce cybersecurity measures to prevent data from being compromised

Working from home for good? Discuss how to mitigate insurance risks and business insurance options with a trusted agent at Prince Insurance.

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.