Types of Condo Insurance

If you own a condo in Myrtle Beach, SC, getting condo insurance should be your next step. From protecting your property against damage to covering you when you get liability claims, these are just some benefits you can expect from condo insurance. Where to start, however, may be a problem if you are a new policy seeker. Benefit Insurance Services can help with this, with the following guide coming in handy for residents looking for condo insurance types.

Building Property Coverage

Building property coverage protects the interior of your condo against disasters such as fire, vandalism, and theft. Among the items protected by this coverage include permanent fixtures such as interior walls, sinks, floors, and cabinets. Depending on the extent of damage, building property coverage will help you take care of the costs of replacing or repairing these items.

Liability Coverage

Lawsuits can occur at any time, with the most common incidences being when a guest gets injured while visiting your condo or their property gets destroyed. Liability insurance covers liability claims arising from such instances and will take care of your legal expenses, medical costs, and repair or replacement costs.

Contents Coverage

When hazards such as storms, theft, and fires cause damage to your property, contents coverage will take care of your repair and replacement expenses. Among the items catered for by this policy include clothing, furniture, and electronics.

Loss of Use Coverage

If your condo becomes uninhabitable due to damage from covered perils, loss of use coverage provides compensation for your additional living expenses. This includes the cost of accommodation, your meals and travel costs.

Loss of Assessment Coverage

Communal living spaces can also get destroyed when disasters strike, a factor that will require your Master’s Policy to cater to the repair expenses. Where the costs exceed the Master’s Policy, condo owners are often required to contribute to the difference. Loss of assessment coverage comes in handy here, providing coverage for such costs.

If you are looking for condo insurance within Myrtle Beach, SC to protect your property, get in touch with Benefit Insurance Services today. Our agents will take you through our coverage options and help you get a tailored policy.

Types of Home Insurance in Myrtle Beach, SC

If you live in Myrtle Beach, SC, and are interested in learning more about home insurance, you should see what the professionals at Benefit Insurance Services can do for you.

There are eight main policy types when it comes to home insurance. HO-1 is the most limited and basic type of policy, typically meant for single-family homes but not very common nowadays; HO-2 is more common and a little bit of an upgrade from HO-1. HO-3 provides even broader coverage and is the most common type of homeowners insurance policy. HO-4 is for people who are renting, HO-5 is the most comprehensive type, HO-6 is for condo owners, HO-7 is for the owners of mobile or manufactured homes, and HO-8 is a special type of insurance for homes that do not meet standards for other policy forms.

In South Carolina, hurricanes and tropical storms are fairly common. Homeowner’s insurance typically includes damage from these sorts of winds. It will often also protect your home from damage caused by hail, which is good in South Carolina because hail storms are fairly common. There may be special stipulations regarding hail in regions within South Carolina where hail storms are particularly common. Usually, hail will be named along with fire, wind, theft, and other potential causes of damage that may be listed within your home insurance policy.

However, you should be aware that flood damage is not necessarily going to be covered. You might need to purchase a separate flood insurance policy if this is your concern. You can do this through the National Flood Insurance Program or through a private seller if this is possible in your area.

If you live in Myrtle Beach, SC, and are interested in learning about the types of home insurance options that are available to you, you should contact the professionals at Benefit Insurance Services and see what they can do for you. 

Do You Really Need Motorcycle Insurance?

Along with greater freedom on the road, motorcycles come with a greater risk of injuries or property damage in the event of an accident. That’s why it’s imperative to have motorcycle insurance. Motorcycle coverage from Benefit Insurance Services offers protection against accidental injuries, property damage, theft, vandalism, breakdowns, and more. Here’s how motorcycle coverage works to protect you against accidents.

Motorcycle Insurance Options in Myrtle Beach, SC

Motorcycle policies offer diverse coverage options to suit the needs of different types of riders. These options include:

Collision coverage – to cover damage to your bike if you crash into another vehicle, a tree, wall, telephone pole, or another stationary object

Comprehensive coverage – to compensate you for motorcycle theft or damage to your bike from non-collision causes like severe weather, vandalism, or falling objects

Uninsured motorist coverage – to cover repairs to your motorcycle if you’re hit by an uninsured or hit and run driver

Medical payments coverage – to cover your medical expenses if you’re injured in a motorcycle accident

Importance of Motorcycle Coverage

If you love to take road trips or travel long distances for business purposes, motorcycle coverage is even more important due to the risks of highway accidents. Motorcycle accidents can be much more severe than vehicle accidents as you’re more exposed to injuries and the elements. The right insurance coverage can save you thousands of dollars or more in medical or property damage expenses in the event of an accident. Unless you have the funds to pay for these costs out of pocket, you’d do well to protect yourself with quality motorcycle insurance coverage.

Where to Obtain Motorcycle Insurance

If you’re in the market for motorcycle insurance in Myrtle Beach, SC, you’ll find just what you need at Benefit Insurance Services. Call or visit us today for all your vehicle insurance needs.

When should you review your home insurance

Most homeowners get their home insurance when they first buy their home. Your insurance agent should suggest you review your policy every year but baring a huge increase in your premium, chances are you haven’t. It’s understandable, you get sent a huge pile of paper with lots of boring language on it and it is not exactly fascinating reading material. Despite that, you should at least look it over to make sure the coverage you have makes sense with your life right now. At Benefit Insurance Services in Myrtle Beach, SC, we take pride in the level of our customer service and we always make sure you have the insurance you need. 

When your policy renews

When your home insurance renews you will get a declaration that gives you information about your basic policy. It tells you how much insurance you have on your home to replace it. The amount that you have in content coverage and your liability. It should also list your deductible. If you haven’t checked the amount of coverage you have to replace your home, you must make sure it makes sense with the building costs in your area.  

When you make home improvements

Not every home improvement increases the value of your home but some do. If you renovate your kitchen or bathrooms, these do add value. Finishing a screen porch into a room or your basement also adds square footage. If you install a home security system or a new roof, these can save you money on your premium so it is worth talking to your insurance agent.

At Benefit Insurance Services in Myrtle Beach, SC, we are independent agents who offer our customers choices when it comes to home insurance coverage. Visit us online, call us or stop by our office for a no-hassle quote. 

Helmet laws and motorcycle insurance in South Carolina

Whether motorcyclists are required to wear a helmet or not while riding can vary by state, and the decision to wear or not wear protective gear can also have insurance consequences as well. As a general safety rule, it is always best to wear a helmet and protective equipment to minimize the chances of injury or death while operating a motorcycle in Myrtle Beach, SC. 

South Carolina’s helmet laws

Any motorcyclists who are under the age of 21 are required to wear a helmet at all times while operating a motorcycle or riding as a passenger. Once the person reaches the age of 21, they can choose to no longer wear a helmet without violating any traffic laws. Any helmets that are worn must meet the state department of transportation’s requirements, which include a chin strap and reflectors on the helmet’s sides. 

Insurance consequences

Most riders will want liability and collision coverage that will protect them financially if they are ever involved in an accident. An agency such as Benefit Insurance Services can provide this protection. If a cyclist is injured in an accident when they were not wearing a helmet, they may be considered partially or completely at fault for their own injuries as a legal matter. This is because most jurisdictions in the U.S., including South Carolina, have negligence laws that allow a defendant to be relieved of liability if the person suing them is partially or mostly at fault for the accident and injuries.

Learn more about motorcycle insurance from an agent

There are agents who serve the Myrtle Beach SC area with guidance related to choosing a policy and learning about coverage. Benefit Insurance Services has professionals ready to speak with you about any of these concerns. 

What All New Condo Owners Need to Know About Insurance

If you’ve recently made the decision to buy a condo in Myrtle Beach, SC, congratulations are in order. A condo here often provides more amenities and sense of community than other housing options while still giving you your own personal space and property. But before you get all moved in and really enjoying your new life, it’s crucial to make sure you are protecting your investment. This is why all condo owners need a good insurance policy, and at Benefit Insurance Services, we’re here to answer all of your questions.

How is Condo Insurance Different from Homeowners Insurance?

As a condo owner, it’s important to understand the differences between your ownership and that of owning a separate house or entire building. While you may own the individual unit, you do not own the building itself that connects you to your neighbors’ condo units. There may also be common areas (both indoor and outdoor) that are open to everyone. For these reasons, condo owners must have their own insurance policies that address their unique needs. Regular homeowners insurance will not do, because it is designed for house ownership. 

What About My Condo Fees?

If you’re like most condo owners in Myrtle Beach, SC, you pay an HOA or community fee as part of your terms for living on the property. And in many cases, this fee does include some level of insurance. It’s important to understand, however, that in the vast majority of cases this insurance will not cover the interiors of your home or any of your personal property. Instead, this insurance is typically used to cover the general property, including any public areas. In fact, many condo associations and property managers require condo owners to carry their own individual insurance policies.

We invite you to reach out to our team at Benefit Insurance Services if you have more questions or would like to learn more about your condo insurance options.

What’s the Best Way to Get Additional Home Insurance Coverage?

When you first take out home insurance, you’ve likely burned through much of your savings before you move in. You might have been denying yourself any number of things in order to move into the home in the first place. That’s why it’s so common for new homeowners in Myrtle Beach, SC to take out the bare minimum.

But as time goes by, you might choose to upgrade your home. Maybe you buy new things or redo the kitchen fixtures. Whatever it is, you’ll need new home insurance to cover damages or loss if something happens to these things. Benefit Insurance Services wants you to more about the best way to add more coverage to your policy. 

Assess the Changes 

The first thing you need to do is ask yourself what exactly has changed. Did you recently buy a new TV or laptop? Are you spending more on clothes and jewelry? Did you install new fixtures in the bathroom? Whatever the answer happens to be, this can help you decide if you need more coverage. In some cases, you won’t need to increase your coverage. Your policy has a range that you may still fall into. But in other cases, you’ll need to think about expanding the terms to fit the new conditions of your home. 

Call an Expert 

It’s not just home changes that you may have made in Myrtle Beach, SC that may require extra coverage. You may want to expand your coverage to meet the needs of certain events. For example, flood insurance may not be covered under your current policy and you may want to add this as a rider. If you have questions, call Benefit Insurance Services today for more information on adding coverage. 

Buying a New Motorcycle? Avoid These Common Mistakes

Before shopping for a motorcycle in Myrtle Beach, SC, it’s important to research your options. You may have one model in mind only to discover it’s way beyond your budget or doesn’t really meet your riding needs. These tips from Benefit Insurance Services can help you avoid common mistakes in buying the bike of your dreams.

Buying Beyond Your Skill

Some motorcycle models are more powerful than others, requiring greater riding abilities and skill. A powerful bike can be unsafe for an inexperienced rider, putting him or her at greater risk of accidents. When shopping for a motorcycle, it’s important to stick with models you can manage, taking into consideration your motorcycle training, experience, and skill.

Breaking the Bank for the Bike of Your Dreams

It’s easy to get carried away when buying a motorcycle and choose a model that’s way beyond your financial means. You can avoid paying too much by shopping around and seeing what various motorcycle dealers in Myrtle Beach, SC have to offer. Then sit down, review your budget, and choose a bike that’s within your financial means. Keep in mind that pricier bikes are also more costly to insure, putting an additional burden on your budget.

Buying the Wrong Type of Bike  

Before buying a bike, consider how it will be used. If you’re looking for a motorcycle to commute to school or work to save on fuel costs, you’re not going to choose a costly sportbike. By looking for a bike that’s appealing and manageable, reasonably priced, and suited to your lifestyle, you’ll have a quality product you can enjoy for years to come.

Once you’ve purchased your ideal motorcycle, you’ll need motorcycle insurance. At Benefit Insurance Services, we offer motorcycle coverage for all bikes and lifestyles. Contact us for all your motorcycle insurance needs.

3 Ways to Protect Your New Condo

Once you’ve finalized the purchase of your new condo in Myrtle Beach, SC, you’ll want to take measures to make it a safe and secure place in which to live. The following tips from Benefit Insurance Services provide greater insight into how you can improve the safety and security of your new abode:

Invest in a “Home” Security System

Home security systems work just as well in condos as they do in single-family homes. For optimal protection, consider a system that includes an alarm, security cameras, and motion sensors for your windows and doors. If your condo had a previous owner, have a locksmith change the locks on your doors as a precaution against intruders entering your condo when you’re not home.

Install Exterior Lighting 

Install motion sensor lighting around the exterior of your condo to deter would-be burglars from targeting your unit. If your unit is located in a high-rise building, make sure your hallways and stairwells are well lit at night for greater safety and security. You should also petition your association to have security lights installed at the main door.

Purchase Condo Insurance

Purchase condo insurance to protect your unit and belongings. Your association’s master policy only protects your building and common areas, not individual units. A standard condo policy offers dwelling, property, and liability coverage.  

Dwelling insurance covers the interior of your condo (ceiling, walls, floors, and built-in structures) against fire, water damage from faulty plumbing, storm damage, lightning strikes, and other mishaps that can cause financial loss. You also have the option of purchasing property insurance to protect your belongings and liability coverage to protect you against accidental injuries that may occur while someone is visiting your condo. 

For more information about condo insurance in Myrtle Beach, SC, contact your Benefit Insurance Services agent today.

How much home insurance do you need in South Carolina?

The median home price for homes in Myrtle Beach, SC was just under $170,000 last year. Single-family property values are expected to rise throughout the cities as more individuals choose to live along the coast in South Carolina. So many new residents coming to the city may cause you to wonder about your home insurance policy. Is your plan enough to cover the unexpected? How much home insurance do you really need? The agents at Benefit Insurance Services can help you answer these questions and more. 

How does your home’s value impact your home insurance?

The value of your home works hand-in-hand with your insurance policy. Some indemnity providers commit to replacing your home according to its market value if it is a total loss in an incident. You stand to benefit if your home’s value is higher than what you paid when you purchased the property. On the other hand, you stand to lose money if your home’s value is less than what you paid for the property. 

It is a good idea to remain up-to-date on your home’s value so that you are not caught off-guard if your residence is destroyed. A simple search on a real estate site can give you a basic knowledge about median home values in Myrtle Beach, SC. 

How much home insurance do you need?

You certainly want to purchase enough home insurance to cover the cost of relocation should your home be destroyed. It is typically a good idea to search the database of median home values and purchase an indemnity policy accordingly. 

Your insurance policy should also cover your possessions inside the home. It may be a good idea to pay more to cover your antiques rather than rely on a standard policy, which may not give you the full value for such goods. 

The agents at Benefit Insurance Services can help you create the home insurance plan that works well with your finances. Call them today to schedule a consultation and to request a quote!