5 Ways Commercial Insurance Helps Your Business

If you’re starting up a business in or around the San Antonio, TX area, you’ll want to find out about commercial insurance. Not every business needs this type of insurance, but most of them do. At LeapFrog Insurance, we can help you discover what kind of insurance coverage you need and then make the choices that are right for your specific situation. You’ll have peace of mind with your new business, and be able to focus on operating that business the right way. Here are five of the most important ways commercial coverage will help your business.

1. You’ll have protection for your building and the equipment in it.

2. You’ll have coverage for your employees if they’re injured in the course of their work.

3. You can protect your clients or customers if they sustain an injury while they’re on your property.

4. You’ll have a sense of stability and security, knowing you’re properly covered.

5. Your customers will feel safer because they know any mistakes you might make in a professional capacity will be covered.

Having a business can be a great feeling, and can give you the freedom to be your own boss and set your own terms and conditions. But it’s very important that you take your commercial insurance seriously. Having the right agent and company behind you can make a big difference in the type of coverage you get and how easily you can make changes and updates in the future.

For anyone in or near the San Antonio, TX area, LeapFrog Insurance is here to help. Reach out to us today, and let us answer any questions you have about your business’ insurance policy. Whether you’re just getting started or you’re looking to update the policy you already have, we’re available. Our dedicated agents will ensure that the policy you have is the right one for your needs.

How much life insurance is right for me

Most people have very little knowledge about life insurance and even less about the amount of life insurance that they should carry. This is a complex issue and there is no one answer that fits every person and every situation. Life insurance serves more than one purpose. It is part of a lifetime financial plan and is much more important than most people realize. At LeapFrog Insurance in San Antonio, TX the team has years of experience helping their clients to determine the correct amount of life insurance for their needs. 

In order to determine how much life insurance is right for you, you need to ask yourself a few questions. Who depends on you and your income. Do you have a wife and children, elderly parents, or others who would not be able to maintain their current lifestyle without you being able to support them? How young are your dependents and how many years will they be relying on your income? 

Do you have debt? Have you made arrangements for your final expenses to be paid? When you have answered these questions you will be able to come up with some idea of how much insurance you may need. Experts recommend that you have eight to ten years of salary in life insurance to protect your dependent children and if your children are even younger than that, it might even be more than that. This is just a starting point, all aspects of protection need to be considered as you come up with a viable figure for the amount of life insurance needed.

When you are ready to discuss your life insurance needs LeapFrog Insurance in San Antonio, TX is ready to sit down with you to come up with a plan to protect your dependents and to fit your budget. Life insurance comes in a variety of forms and no one plan is right for everyone. 

Hosting A Party, Do I Need To Tell My Insurer?

Different home insurers in San Antonio, TX will have different rules on when you’re supposed to inform them that you’re having a party, but as long as you follow the maximum occupancy and the fire code, you’ll have a hard time finding an insurer that simply doesn’t allow you to host a party or an insurer who lays down special stipulations for you to follow.

If you’re not sure where your insurer stands on the matter, you could read your policy back to front, or you could just go ahead and give them a call anyway.

The truth is that your insurer generally has your best interests in mind. If something goes wrong, they have to pay for it, so all they really want to do is help you to stay safe, and you’ll find that honesty is the best policy when dealing with your insurer.

If something goes wrong at your party and you need to file a claim, the worst that can happen if your insurer knows about it is, assuming those damages are not listed as an exclusion, anything. If you’re covered you’re covered. But if you were supposed to tell them you were hosting sixteen, twenty people for the Superbowl, and you neglected to inform your insurer, you might wind up having your claim denied.

This is usually the case. If the line seems blurry, you’ll always be happier you told your insurer.

If you’re still shopping around for a home insurer in San Antonio, TX, give LeapFrog Insurance a call. LeapFrog Insurance can connect you with the policy that you need to host a safe, fun party for your housewarming.

Infectious Disease and Business Insurance

At LeapFrog Insurance, we wish our employees, clients, and neighbors in San Antonio, TX best wishes for their health and well-being during these trying times. The information below provides valuable information on how COVID-19 may impact various types of insurance. As you read, jot down any questions you may have for your agent regarding your commercial insurance coverage.

How Do Infectious Disease Outbreaks Impact Commercial Insurance?

If a true pandemic were left to grow unchecked, hundreds of thousands might die in the United States. COVID-19 has forced most of the workforce to work from home or forego working at all. The insurance industry may play a key role in the ensuing recovery. Here are a few examples of how that would work.

Business Interruption Insurance

Business interruption insurance falls under property insurance in many commercial policies. Check with your agent to see if you carry this coverage. Designed to protect your company against profit loss due to interruptions, it’s triggered when your business suffers from physical damage. In the case of a pandemic, business interruption insurance might pay for the decontamination and sanitation of your physical location.

Workers’ Compensation

Workers’ compensation insurance might cover exposure to the cause of the pandemic while at work. For example, a doctor who gets COVID-19 from direct contact with a coronavirus patient might qualify for workers’ compensation under some circumstances.

Directors and Officers Policies

Directors and officers insurance protects shareholders and may be triggered during a pandemic. These policies protect policyholders against financial loss when a covered event disrupts business operations.

Errors and Omissions

Errors and omissions coverage may play a key role in protecting hospitals during the pandemic. Also known as professional liability insurance, E&O insurance covers damages awarded to patients due to injury or death resulting from a failure to provide services.

In these uncertain times, it’s not clear how such a broad event will play out when it comes time for an economic recovery. However, the agents at LeapFrog Insurance are staying abreast of changes as they occur. Call today for more information on reviewing the coverage for your San Antonio, TX business.

 

Who Can I List as Beneficiaries on My San Antonio, TX Life Insurance Policy?

One of the first things you’ll be asked when you set up your San Antonio, TX life insurance policy through our team at LeapFrog Insurance is who do you want to name as your beneficiary.

Choosing Your Beneficiary

A beneficiary is a person or organization who will receive the financial payouts of your policy upon your death. No one can tell you who you want to name as your beneficiary or beneficiaries, but you will want to pick one of the following:

  • A sole individual
  • Two or more people
  • A charity you trust
  • The trustee of your own personal trust
  • Your estate (if you don’t name any beneficiaries, then your life insurance will, by default, payout to your estate)

Primary vs. Contingent Beneficiaries

Now, as you consider who you want to be your beneficiary or beneficiaries, it’s important to also note that your life insurance will list spaces for two different types of life insurance beneficiaries. The first important beneficiary type being:

  • Primary beneficiary. The primary beneficiary is also known as the main beneficiary. This is the person, persons, or entity that will directly receive the proceeds from your life insurance policy upon your death. 

But what if your primary beneficiary dies before you do and before you get a chance to update your life insurance policy? Or if the listed charity dissolves? It’s for these situations that life insurance policies insist on the second type of beneficiary:

  • Contingent beneficiary. Also known as the secondary beneficiary, this person or entity will only receive your death benefits if the primary beneficiary dies or dissolves before you do. 

Set Up Your Life Insurance Policy

Are you ready to set up your life insurance policy? Contact our team today at LeapFrog Insurance.

 

3 Steps to Buying Home Insurance

One of the most costly mistakes you can make is not purchasing sufficient home insurance. Home insurance protects your dwelling and personal property. It also protects you against liability claims if someone has an accident on your property. Whether you purchased a new home or are reevaluating your current home insurance needs, these steps from LeapFrog Insurance in San Antonio, TX can help you make wise home insurance choices. 

Appraise the Value of Your Home

Appraise the value of your San Antonio home to know how much dwelling coverage to obtain. Ideally, you should have enough dwelling coverage to rebuild your home if it’s totally destroyed in a disaster. This includes structures attached to your home such as a deck, porch or garage and renovations you may have made to your property.    

Make a Home Inventory of Personal Property

Next, make a home inventory of your personal property. Your inventory should include photos, videos, and receipts, if possible, of high-end goods you own. If you have heirlooms or antiques, have them appraised so you know their value. Then assess how much it would cost to replace your goods if they were totally destroyed in a disaster. This will give you a good idea of how much property coverage you should obtain to protect your belongings.

Liability

Liability coverage protects you against accidents on your property. A simple accident could wind up as a major liability claim that costs you thousands of dollars. A standard homeowner’s policy offers minimum liability coverage. By increasing this coverage substantially, you can protect yourself against serious accidents. Liability coverage also protects you against lawsuits if someone decides to sue you for damages.

Don’t compromise on your home insurance protection. For comprehensive home insurance coverage at affordable costs, call or visit your LeapFrog Insurance agent in San Antonio, TX today.

3 Tips for Buying Commercial Insurance in San Antonio, TX

You need commercial insurance to protect your business in San Antonio, TX. While this is true, if you are like most business owners, you may have no idea what you actually need to purchase in terms of coverage. Don’t worry, our team at LeapFrog Insurance is here to help. 

Keep reading for three helpful tips to keep in mind when you are ready to purchase commercial insurance. 

1. Compare Quotes

Before you buy any insurance policy, you need to shop around. Compare prices from several service providers before making a commitment. We can help with this and do the shopping around for you, helping you find the best coverage for the best price. 

2. Bundle 

Do you have insurance already? Any type of insurance? If so, you may be able to save money if you bundle your policies from the same carrier. This is a smart tactic that can help ensure you get the best price possible and minimize the cost of the policies. 

3. Work with a Reputable Agent

Before you try to do anything in the realm of insurance, you should find a quality agent who knows the industry. They will evaluate your needs and ensure you get the protection you need and that you don’t overpay. This is the most important tip on this list, so don’t forget to do it. 

When it comes to commercial insurance in San Antonio, TX, our team at LeapFrog Insurance is available to help. Contact us, and we will do all the heavy lifting to find the right policies for the right price. There’s no need to struggle through this on your own when we are here to help. 

What to Do After a Flood

Going back to your home after a flood can be devastating. During this emotionally trying time, it’s helpful to focus on a goal. As you go through your belongings to salvage what you can, protect your personal safety and take the opportunity to collect information for your insurance claim. A LeapFrog Insurance agent can answer questions you have regarding how to protect your San Antonio, TX home with flood insurance.

Take Pictures

Before removing water or making repairs, document any damage with photos and videos. Digital versions that can be transferred electronically are ideal. 

Call Your Insurance Company

It’s a good idea to store your insurance information in a ready-bag for emergencies, such as a flood. You’ll need to notify the insurer as soon as possible once it’s safe to enter your home.

Remember that the NFIP operates via private companies, so you contact your insurer as you would for any other claims. Work with your insurance representative to determine the cause and extent of the flood and what’s covered under your policy.

It’s important to advise your insurance representative what condition your home is in and to tell them what repairs you have to do right away. The company may give you specific instructions on whether to wait for an adjuster before making repairs.

Protect Your Health

Even clear water can contain sewage or chemicals. Wear protective gear, such as hip boots or waist-high waders, as well as rubber gloves, to go through your possessions. Throw out any food that came in contact with floodwater. FEMA recommends that you boil water until it’s been deemed safe by the local authorities.

Contact LeapFrog Insurance today to set up an appointment for a quote or to get more information on flood insurance for your home in San Antonio, TX.

 

Can a Lender Require You to Carry Flood Insurance?

Here at LeapFrog Insurance, serving the greater San Antonio, TX area, we have found that many customers have questions about flood insurance. Your home insurance policy typically does not cover flood damage, so purchasing a separate policy specifically for flooding is recommended. One of the questions we are often asked is whether a lender can require you to carry flood insurance. If you have this question, read on to learn the answer. 

Can a Lender Require You to Carry Flood Insurance?

A lender can require you to carry flood insurance. Depending on where you are living and the likelihood of a flood, many do have this requirement. Your lender has an interest in your home. If you default on the payment, they can foreclose on the home and sell it, helping to recover their money. If the home is damaged in a flood, and you do not have flood insurance, they can lose money. This is why many require flood insurance, especially for those living in an area prone to flooding. 

How Do You Know if Your Lender Requires You to Carry Flood Insurance? 

If a lender requires you to carry flood insurance, it will be written into your mortgage contract. They cannot require you to carry it if it is not written into the contract at the time you sign your mortgage and take out the loan. 

Even if a lender does not require you to purchase flood insurance, it is always recommended that you do. You can lose everything in a flood and your home insurance policy will not help you if you do not have this add on policy. Contact us here at LeapFrog Insurance, serving the greater San Antonio, TX area, today to learn more about buying a flood insurance policy. 

Why Does Flood Insurance Have a 30 Day Waiting Period?

If you are looking to purchase flood insurance, you may notice that many flood insurance policies have a 30 day waiting period. Here at LeapFrog Insurance, serving the greater San Antonio, TX area, we have found that many people do not understand what a 30 day waiting period is and why it is in place. Read on to the answers to the questions you may have about a 30 day waiting period for flood insurance. 

What Exactly is a 30 Day Waiting Period for Flood Insurance?

A 30 day waiting period means that you have to wait 30 days until your policy is active. If you buy a policy today, and it floods in a week, your policy will not yet be active and you will not be covered. 

Why is There a 30 Day Waiting Period for Flood Insurance?

There is a 30 day waiting period for flood insurance to prevent people from buying flood insurance only when the risk of a flood is near. This encourages people to carry flood insurance all the time, not just when a major storm is coming through. 

Do All Policies Have a 30 Day Waiting Period for Flood Insurance? 

Most policies do have a 30 day waiting period. However, if you have just purchased your home, your policy may waive the 30-day waiting period. If you have owned your home for some time, and this is your first time buying flood insurance, the 30 day waiting period will not typically be waived. 

Most home insurance policies do not cover floods. As such, you should purchase a supplemental policy to cover floods. Are you ready to learn more about flood insurance in the greater San Antonio, TX area? Contact LeapFrog Insurance to learn more today.