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. 

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 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. 

Why Whole Life Is An Investment In Your Future

If you have considered purchasing life insurance to help protect your family or loved ones from financial hardship in the event of your passing, you should learn which type will work best for your situation. If you want to give yourself an extra layer of protection, you can choose to purchase whole life.

Choosing Whole Life Insurance

If you want to purchase a policy that will allow you to borrow against the value of the policy after a few years of paying premiums, then whole life may be the right option for you. This is an excellent choice for people who want to invest in the security of their future. The funds can be used for emergencies and even college expenses. It is a way to protect loved ones from financial hardship and cover any expenses that may arise in the future. 

Purchasing The Right Insurance Coverage

If you are planning to shop for a whole life insurance policy, you should enlist the help of a licensed life insurance agent who has plenty of knowledge and experience. If you are a resident living around the San Antonio, TX area, you should contact LeapFrog Insurance to get additional information about your policy options. Their agents have the skills you need to get you the right coverage. They will provide top-notch customer service and assist with any claims.

If you want to give yourself a chance to provide a more secure future for your loved ones and have the option to borrow from your whole life policy, you should call or stop by LeapFrog Insurance. They proudly serve the residents of San Antonio, TX and are waiting to help you find ideal coverage. 

How Do You Buy Flood Insurance?

If you are looking to purchase flood insurance in San Antonio, TX, you can purchase it through an agent or insurer participating in the National Flood Insurance Program, such as LeapFrog Insurance. You aren’t able to purchase a policy directly from the NFIP or the government on your own.

There aren’t any restrictions on who can purchase a policy. You don’t need to live in a high-risk area of a floodplain in order to purchase a policy. However, due to the cost of the policy, many of those who purchase flood insurance are those who live in a high-risk area.

Buying Government Flood Insurance: If you are purchasing through an agent with the NFIP, premiums will be the same no matter what agent or insurer you are going through. Rates are determined by the NFIP and will depend on different predetermined factors, such as the year your property was built, the value of the property, and the flood risk. Even though there isn’t a rate variation for the same properties, you want to work with an insurer you feel comfortable with if you ever have to file a claim. When you sign up for coverage, it won’t go into effect until 30 days after you sign up. You shouldn’t wait until you need the policy to purchase it. The coverage is reliable but it’s important to note that it won’t cover additional living expenses if you are displaced after a flood.

Buying Private Flood Insurance: Some insurers have also started to sell insurance that is separate from the NFIP. These premiums could be less or more expensive than other insurance options, depending on how much insurance you want for your home. Some of the pros can be higher claim limits available and a shorter waiting period, but there are some risks associated with these policies and they’re not available to everyone.

Contact LeapFrog Insurance, serving San Antonio, TX, to get a quote on flood insurance.