The Insurance Family Blog

In California, auto insurance liability is a must, and is mandatory due to state financial liability laws. Anybody who owns and operates a road vehicle must take out auto insurance to ensure they will be able to cover minimum liability costs should an accident or incident take place on California roads. Since taking out auto insurance is unavoidable for most people, there is a lot of competition and we know that people shop around. But do you really understand what factors go into determining the premium of your auto insurance? The top five factors that affect your auto insurance premium are as follows: 

Did you know that being a Californian on the open road today comes with a lot of inherent risks? Perhaps you are aware of the obvious risks but there are other risks most people don’t ever think about. In the year 2009 alone, motor vehicle fatalities in California totaled 3,081. Not to forget the severe injuries and permanent damage suffered by tens of thousands of people every year.

For a safe and happy summer’s motoring in California, make sure to buckle up! While California auto insurance protects you financially, seat belts will protect you and your family physically. In addition, California law actually requires drivers of vehicles and all passengers to use a “safety restraint system” (or seatbelt) while traveling in an automobile. 

If you own a local business in California, you’re probably already aware of the complicated nature of properly protecting your business from financial loss. Luckily Sutherland-Scherff is here to help make the process of organizing your business insurance that much easier. One of the more common types of business insurance is a business owners policy, which can be compared to a homeowners policy, but for your business.

One of the top risks to an automotive business is fire so it is essential that your business is both prepared for and protected against such hazards. Fires in an auto shop can start from very small sources but can rapidly become raging infernos – causing extensive damage to your property as well as your finances. Implementing effective fire prevention rules will help reduce risks but will that help rebuild your business?

We all need to cut our cloth more tightly in these tough economic times. When it comes to reducing costs within your business, the first thing you need to look at is reducing the insurance risk. Unfortunately in an industry that deals with cars, those risks tend to be high stakes, and provide the potential for high losses. 

Building Ordinance or Law Coverage is one of those very important coverages that is rarely discussed.  Whether you own an apartment building or commercial building, odds have it you need this coverage but probably have not had the discussion with your insurance agent.

Identity theft remains one of the fastest growing crimes in the country today.  Identity thieves have developed a number of ways to obtain your information - from the simple theft of a wallet to elaborate internet-based scams.  Simply put, identity theft insurance pays for the costs associated with identity theft and the time consuming process of cleaning up the mess left behind when somebody steals your identity.  It does not reimburse you for the money that is stolen from you.  Some insurance companies offer this coverage as part of your homeowners insurance or it can be added to your policy by endorsement. 

Whether you own a restaurant, retail store, auto repair shop or law firm, there are basic business insurance coverages that apply to all businesses.  Most businesses need to consider at least the following types of insurance. 

Uninsured Motorists insurance is an important coverage that is typically included in an auto insurance policy but is rarely talked about.   When you purchased your auto insurance you probably discussed your liability limits and what comprehensive and collision deductible you wanted to include on your policy.   But what about Uninsured Motorist insurance?  How did you determine your limit?