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Business Insurance

Renting a property on Airbnb? Here’s what you need to know!

By Business Insurance, Personal Insurance

A great way to make some extra money in this tough time is to rent out your property on Airbnb, VRBO, or any other vacation rental site. If this is the path you decide to take, you need to consider what kind of coverage you need in order to protect yourself.

1. Airbnb has automatic host protection insurance
All Airbnb hosts are automatically covered under the company’s “host protection” insurance. This plan provides $1,000,000 per occurrence in liability coverage. Airbnb’s plan has some limitations. For example, any incident that occurs while using an item or appliance improperly is not covered. Finally, as this is liability coverage only, there is no coverage for any property.

2. Typically, standard homeowners insurance is not enough
While your homeowners insurance will likely cover things like fire, wind damage, water damage, and personal injury, it tends to get somewhat messy when you’re renting out your home on a short-term basis. Some insurance companies will agree to cover one-off short-term rental requests, but they also may require you to add an endorsement to your policy to cover rentals. The most important thing is to notify your insurance agent or company that you are participating in home sharing so that you can be properly covered.

3. If you rent your property often enough, it may be considered a business
Depending on the extent of your renting, you may need coverage that can only be provided by a separate business insurance policy.

Contact your agent at American Insurance to discuss all of your options today!

6 Philanthropic Insurance Companies

By Business Insurance, Community, Personal Insurance

Nowadays, more people are challenging the companies they use to be socially and ethically conscious. This includes their insurance companies! Many insurance providers have upped their game in the world of corporate responsibility, here are just a few that we at American Insurance partner with:

1. Allstate
Allstate provides millions of dollars in grants every year to organizations that uphold their core pillars: empowering youth, ending domestic violence, transforming communities, and developing nonprofit leaders. Allstate employees also offer hands-on support by volunteering at organizations that maintain these goals.

2. Liberty Mutual
Similarly, the Liberty Mutual Foundation provides grants to nonprofit organizations that support men, women, and children facing homelessness and educational resources to children living in poverty. Liberty Mutual also has the Liberty Torchbearers program and an annual day of service which encourages their employees to volunteer in their communities.

3. Nationwide
Nationwide partners with the American Red Cross, Feeding America, Nationwide Children’s Hospital, United Way. They also reward their philanthropic employees who volunteer on their own time with paid time off and a grant to the nonprofit at which they volunteer.

4. Progressive
While Progressive doesn’t provide financial support directly to charities, they match any employee’s charitable contributions. Progressive also donates vehicles to veterans who are facing financial hardship through their Keys to Progress program – to date, they’ve donated over 600 vehicles.

USLI focuses their philanthropic programs on coaching and mentoring children in the Greater Philadelphia and southern New Jersey areas. They partner with 20 nonprofits locally and country-wide to provide support.

6. Chubb
In an effort to mobilize against COVID-19, Chubb has provided millions in support to those most affected by the pandemic. They partner with almost a dozen organizations to provide personal protective equipment and insurance coverage to workers on the frontline, financial support to small businesses, extra supplies to food banks, etc. Chubb is also helping to fund the search for a treatment or vaccine by partnering with the Rockefeller University.

American Insurance is proud to work with these companies who are making continued efforts to support charitable causes!

Why should you use an Independent Insurance Agent?

By Business Insurance, Personal Insurance

While shopping around for insurance, there are many decisions that you will have to make. How much coverage is adequate? What is a reasonable price to pay? However, when it comes to choosing to use either an independent agent or a direct writer, it’s a no-brainer. Here’s why:

The Facts:

A direct writer is someone who works directly for one insurance company. When you’re working with a direct writer, they have an obligation to remain loyal to the company that they work for. A direct writer will work to get you the best price that their company offers, but that’s as far as they’re obligated to go.

An independent agent, on the other hand, has no loyalty to one insurance company over another. If you decide to work with an independent agent as opposed to a direct writer, it’s as if you have a personal shopper in the insurance marketplace. Your independent agent shops around in order to get you a combination of the best coverage and price possible. Their overarching loyalty lies with you, the customer.

It’s also important to note that there are no additional fees to work with an independent agent. Independent agents are paid directly by the insurance companies they work with. So you get the benefit of an insurance professional that can help advocate for you at no cost.

What this means:

An independent agent has the ability to get quotes from many different insurance companies which gives you much more freedom to pick a policy that’s right for you. You get more coverage options, more pricing options, and a licensed agent to help guide you through the process.

Reach out to American Insurance today to get a consultation with an independent agent!

Contractors Insurance in Kenilworth NJ, Scotch Plains, Springfield NJ, and the Surrounding Areas

By Business Insurance

No matter how well you run your construction or contracting business, there is no way to safeguard yourself against the unpredictable accidents or tragedies that may arise. So, to protect your business, it is essential to get contractors insurance coverage. In the event of any unforeseen events, the insurance will offer the much needed financial security to keep your business afloat. If you reside in and around areas Cranford NJ, Kenilworth NJ, Old Bridge, Scotch Plains or Springfield NJ, and are looking for a professional insurance agent who can help you understand the details of your insurance policy, then come to us at American Insurance. We are a reputable insurance services agency who has been helping individuals and businesses with their insurance needs since 1976. Read More

What are the Benefits of Having Business Insurance in New Jersey, Springfield NJ, West Orange NJ, Westfield NJ, Woodbridge NJ?

By Business Insurance

You have invested a huge amount in building your own business. Hence, protecting it should be your topmost priority. Do not let your business doom immediately after opening its doors. And, to help you business overcome it’s doomsday, the best step will be to get a good business insurance plan from us, American Insurance. Read More

Business Insurance and Car Insurance in Springfield, Edison, Union, and New Jersey’s Surrounding Areas

By Business Insurance

Often people running a business feel that getting it insured is an expense which is not within their means or is indeed a luxury for higher established businesses. Yes of course it is a little expensive, yet this is an expense which every business irrespective of its existence time or size or the industry requires including in their budget. To make your task easier, we at American Insurance offer a wide range of business insurance plans to people living in different parts of Edison NJ, New Jersey, Scotch Plains, Springfield NJ, Union NJ and West Orange NJ. Read More

Car Insurance and Business Insurance in Cranford, Edison, and New Jersey’s Surrounding Area

By Business Insurance

These days almost everyone has a car of which the majority does not have an insurance considering it to be a costly investment. What they fail to realize is that having it is a must as getting their car insured can keep them from huge fines, the suspension of their license, impoundment of their car as well as jail time which can result if they are caught driving without such vital form of protection. Considering its significance we at American Insurance offer car insurance of different types to people residing in and around Cranford NJ, East Brunswick NJ, Edison NJ, Kenilworth NJ, New Jersey and Old Bridge. Read More

Business Insurance in Oid Bridge, Scotch Plains, Springfield NJ and Nearby Cities

By Business Insurance

If you need proper business insurance in Old Bridge, Scotch Plains or Springfield NJ, the American Insurance can help. They specialise in commercial insurance solutions and can help with risk assessment and risk management.  Business insurance is a broad field and it is something you need to get right. That is why it is best to leave your business insurance requirements in professional hands. Read More