Business Insurance – Esco Insurance Agency

February 5, 2025February 5, 2025

An Umbrella Just in Time for Spring

Imagine driving home on a rainy night and running a red light, causing a crash. The other driver suffers severe injuries and sues for $750,000. Your auto insurance covers only $300,000, leaving you responsible for $450,000. Without an umbrella policy, you might have to drain savings, sell assets, or face wage garnishment.

With an umbrella policy, the extra $450,000 is covered, protecting your finances.

Other examples where an umbrella policy helps:

Slip-and-Fall at Home – A guest sues after slipping on your icy driveway.

Dog Bite Lawsuit – Your dog bites a neighbor, leading to a legal claim.

Social Media Defamation – Your teen’s post results in a lawsuit.

An umbrella policy provides affordable extra protection for unexpected liability claims that exceed your primary coverage.

Insurance Lapses Will Negatively Impact Your Insurance Score

Why You Should Schedule Your Jewelry, Watches, Furs and Collections

A Win for NC Homeowners Amid Rising Costs

Show Your Pride of Ownership

Higher Deductibles

Increasing Insurance Rates

Proper Coverage

January 27, 2025January 27, 2025

Insurance Lapses Will Negatively Impact Your Insurance Score

For all of your insurance policies, it’s important to avoid insurance lapses because they will negatively impact your insurance score, which companies use to rate your premiums.

A lapse suggests you are high risk, which leads to higher premiums or difficulty obtaining coverage. Companies may decline to cover you, especially if you have multiple gaps in your history. A lapse in your auto coverage may result in suspended license and fines. If you’re uninsured during an accident, you will be personally liable for damages to peoples injuries and damaged property.

Reapplying for insurance after a lapse often results in higher costs and stricter terms. To avoid these issues, keep track of renewals, especially if you’re on auto-pay and just assume it’s paid. And if your Mortgage pays the Homeowners out of your escrow account, be sure you continue to pay the insurance after the mortgage is paid off.

An Umbrella Just in Time for Spring

Why You Should Schedule Your Jewelry, Watches, Furs and Collections

A Win for NC Homeowners Amid Rising Costs

Show Your Pride of Ownership

Higher Deductibles

Increasing Insurance Rates

Proper Coverage

October 2, 2024October 2, 2024

Nothing Destroys Quite Like Water

Each year, 1 out of every 60 homeowners find that out the hard way.

Eighty-four percent of Homeowners have smoke detectors installed, fifty-one percent have Fire Alarms, forty-eight percent have security cameras, yet only seventeen percent have water sensors installed. This is despite the fact that your home is 6-7 times more likely to experience water damage than it is a fire or a burglary.

Water sensors in your home are a valuable investment for several reasons and they’re very affordable. Sensors help detect leaks early, preventing costly water damage and reducing repair expenses. By monitoring moisture levels, these sensors can alert homeowners to potential issues before they escalate. The sensor will also enhance safety by preventing mold growth, which can lead to health problems. In the end, it helps turn a potentially major problem turned into a minor nuisance.

An Umbrella Just in Time for Spring

Insurance Lapses Will Negatively Impact Your Insurance Score

Protecting Your Home From Winter Water Damage

Why You Should Schedule Your Jewelry, Watches, Furs and Collections

A Win for NC Homeowners Amid Rising Costs

Show Your Pride of Ownership

Higher Deductibles

Increasing Insurance Rates

Flood Insurance: Guarding Against Nature’s Unpredictability

April 10, 2024April 10, 2024

Non-Profit

Running and/or volunteering for a nonprofit takes on responsibility, sometimes from the likes of volunteers. Did you know insurance is available to protect the nonprofit group and its board members?

Directors and Officers (D&O) Insurance is a crucial protective measure for nonprofits, shielding their leaders from potential financial and legal repercussions. This insurance extends coverage to directors, officers, managers, and even volunteers, safeguarding personal assets in the face of lawsuits stemming from alleged mismanagement, neglect, or breach of duty. Without insurance, the personal assets of board members may be at stake.

Premiums for D&O insurance often start at less than $1,000, covering legal defense costs, employment practices liability, fiduciary liability, and even cyber/privacy liability. Nonprofits, regardless of size, should prioritize D&O insurance to protect their leadership and mission from potential setbacks, ensuring their noble endeavors remain resilient in the face of challenges. Call ESCO to discuss protecting your nonprofit.

An Umbrella Just in Time for Spring

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Insurance Lapses Will Negatively Impact Your Insurance Score

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Nothing Destroys Quite Like Water

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Non-Profit

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