4 Commercial Insurance Add-ons to Consider

From small-scale ventures to large-scale businesses, no business is immune to unforeseen dangers and lawsuits. However, investing in the below commercial insurance coverages from Benefit Insurance Services based in Myrtle Beach, SC, can lessen your financial burden when disasters strike.

Umbrella Insurance

When mishaps happen to your business, you could face expensive lawsuits. If you have standard commercial property insurance, covering the associated costs will be a breeze. Unfortunately, in some instances, the charges are high for your regular policy to manage, and that’s where umbrella insurance steps in. It covers perils such as 

  • Property damage
  • Bodily injury to people outside your business
  • Liabilities such as slander and libel

Besides, umbrella insurance covers legal costs, settlement claims, and other legal-related costs. 

Flood insurance

If you live in Myrtle Beach, SC, you better understand that you require flood insurance to shield your commercial property. According to Federal Emergency Management Agency (FEMA), this region is considered a flood-prone area, hence the need for flood insurance. 

Since your typical commercial insurance doesn’t cover flood damage, flood insurance covers your building’s structure and its contents. 

Cyber liability

If you are in a business where you store your customers’ and clients’ crucial information, you better secure cyber liability coverage. The technology has evolved dramatically, and hackers are spending sleepless nights trying to commit cybercrimes. If they access such data, you may face huge costs that you can only manage with cyber liability coverage.

Business interruption insurance

When disasters occur at your business, normal operations are cut short. And when there are no operations, you accrue losses. Amid such moments it’s the business interruption insurance coverage that steps in to cover for:

  • Lost income
  • Payrolls
  • Taxes
  • Temporary locations where needed etc.

As you can see, subscribing to the above insurance coverage is a rewarding financial asset that you can’t simply overlook. Contact your trusted agencies at Benefit Insurance Services based in Myrtle Beach, SC, and get commercial insurance coverage that suits your budget and other needs.  

Does Homeowners Insurance Cover Plumbing?

Yes. Homeowner’s insurance coverage can take care of plumbing damage if the damage is under the covered perils and accidental and sudden. However, damage caused by leaky and old pipes may not get covered. In essence, damages that result from slow and cumulative damage to plumbing systems don’t get covered by homeowner’s insurance policies.

Cases In Which Plumbing Damage May Get Covered

  • Typically, you should anticipate some compensation if the following plumbing incidents or accidents cause damage to your home and property.
  • If your plumbing contractor repairs or incorrectly installs your plumbing system. In this case, the plumbing company’s cover may take care of the mishaps and resulting losses.
  • The plumbing pipes or system experiences a sudden burst.
  • If the utility company or neighbors’ plumbing system causes property damage on your property.

When Is Plumbing Damage Not Covered by The Homeowner’s Insurance Cover? 

Plumbing damages may be uncovered in some instances, including:

  • When the plumbing system is too old, and it succumbs to normal wear and tears.
  • When freezing causes damage out of plumbing system neglect.
  • When the plumbing system reveals signs of rust, corrosion, and aging of fixtures.
  • When the nearby sewer or sump pump backs up, leading to damage.
  • When your plumbing system uses unreliable polybutylene plumbing.

If your home insurance cover fails you in such instances, you may need additional coverage to protect you when plumbing damage occurs. Here are cases where you may need extra plumbing cover to back up your homeowner’s insurance. To be well-protected, get:

  • A sump pump rider.
  • A water or sewer backup rider.
  • A mold damage rider
  • Flood insurance

Get A Homeowner’s Insurance Cover That Protects Myrtle Beach, SC

If you’re a Myrtle Beach, SC, resident, then try Benefit Insurance Services. At Benefit Insurance Services, you can get a home insurance cover to protect you against plumbing damage. Visit the Benefit Insurance Services website for more information.

Do I need to purchase additional auto insurance when I rent a car

As summer vacation time looms more and more people are thinking about making their plans and reservations. Hotels, airlines, and rental cars are all high on the list. It can be confusing when you make your reservations about what type and how much auto insurance you need to purchase when you are renting a car. At Benefit Insurance Services in Myrtle Beach, SC, we make sure all of our customers have the right amount of insurance for their particular needs. 

These days many people will make their car rental online. After you decide on the size of the vehicle that you want, where you will pick up and drop off, and the dates you want the vehicle you will be hit with the first of several questions about insurance coverage. What exactly do you need?  Do you want to protect yourself and your wallet? Well, it makes you think, doesn’t it?  Who wouldn’t want to protect their wallet?  But the right question is do you need to protect your wallet or is it already protected?

To make the right decision, you need to know exactly what type of coverage you have. If you have a relatively new car with collision and comprehensive coverage and rental car coverage, you don’t need to buy additional insurance. Your personal auto insurance will cover you.  This cost of this coverage from the rental car company will increase the cost of your rental by about 33%. If cost is no issue, it will give you peace of mind, and you don’t have to file a claim with your insurance company.  If you have questions about your coverage, call your insurance agent. 

If you use a credit card to pay for your vehicle rental, you may have vehicle rental coverage is one of your perks. Give them a call to check. 

Contact Benefit Insurance Services in Myrtle Beach, SC for all your auto insurance needs. 

Motorcycle Insurance: How to Maximize Safety in South Carolina

Motorcycle accidents take hundreds of lives in America every year and injure thousands of others. Any vehicle or car accident has the potential to change your life. Many South Carolina motorcycle accidents can be avoided.

At Benefit Insurance Services, we want to help Myrtle Beach, SC motorcycle drivers maximize their safety in every way when they are on the roads.

Follow the Manual

Many motorcycle drivers don’t take the time to follow the manual for their bike. They know how to drive it, and don’t think they need it. Take the time to review the safety precautions in your manual, and you might see tips that you haven’t been using regularly.

Bike Inspections

Whether you pay to have them done or do them yourself, bike inspections are an important part of being a motorcycle owner. Walk around it to make sure there are no obvious problems.

Check for rust and leaks, or any parts that are falling off or need repair. Even if these problems don’t damage the integrity of your drive or your bike, they could distract you on the road and lead you into an accident.

Keep the bike maintained with regular fluid top-ups and a fresh battery.

Tires and Brakes

You should be getting your tires replaced every five years. When they don’t need to be replaced, stay on top of them by checking the pressure and checking for damage. 

Know where your brake pads are and what to look for if they are having problems. These issues are going to be a big problem for you on the road if they are damaged or worn, and you aren’t aware of it.

Get a Quote

Keep your bike in good condition, and follow the law for other ways to maximize your safety. Don’t check your phone on the road, and don’t drink and drive. When you are ready to add more protection to your motorcycle rides, call Benefit Insurance Services serving Myrtle Beach, SC for a motorcycle insurance quote.

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.

Do I Need Flood Insurance If Not In A High-Risk Flood Area?

In South Carolina, storms and hurricanes are common, putting the residents at the risk of flood damage. Given the immutable fact that flood damage is real, getting the right flood insurance protects your business and home from flood damage. 

If you are new to flood insurance, it can be challenging to understand the nitty-gritty. Thankfully, when you partner with Benefit Insurance Services, serving Myrtle Beach, SC and its environs, understanding insurance can be made easy. 

Why do I need flood insurance?

Did you know that for a 30-year home, damage from floods is likely to strike more than fire damage within that period? It only takes a few inches of water to put your structure and the contents inside at risk of damage. For this reason, you need flood insurance to protect your home from heavy rains, hurricanes, and tropical storms in South Carolina. 

Do I need flood insurance if in a low-risk flood area?

The simple answer is yes. Because you don’t live along the coastline or near a water body, it doesn’t mean you shouldn’t be concerned with flooding. Flood damage can affect anyone. In fact, according to the National Flood Insurance Program (NFIP), 25 percent of the flood insurance claims are from people living in low to moderate flood risk areas!

By you carrying home insurance, it doesn’t mean you are protected from flood damage. Home insurance protects you from numerous risks like fire, lightning, windstorms, hails, and many more, but it excludes flood and earthquake damage. As such, you need a separate flood insurance policy to protect your home or business. 

Flood insurance in Myrtle Beach, SC

As seen, you don’t have to live in a flood plain area for you to carry flood insurance — flood damage can strike anywhere. If you are looking for an agent to talk about your flood insurance needs, you have a partner to provide you with all your flood insurance needs in Benefit Insurance Services. Contact us today!

How renters insurance protects your personal belongings

How Renters’ Insurance Protects Your Personal Belongings

Renters insurance was particularly designed to protect your personal belongings from loss, damage, or liability for third-party injuries in your rental home. While it’s not always mandatory in Myrtle Beach, SC, renters’ insurance is a critical policy to have as a tenant. Remember your landlord’s policy only covers the building and not your personal belongings.

If you are looking to buy renters insurance to protect your valuables, Benefit Insurance Services can help you find coverage that matches your needs.

Protects Your Valuables From Theft

Your personal property coverage in renters’ insurance helps pay to replace the stolen items. However, it’s essential to keep an updated inventory for easier reimbursement. Additionally, you need to make sure that your coverage equals the value of your possessions. Property coverage is typically subjected to deductibles, which means you would have to pay a specific amount of money towards the covered item replacement or repair before your insurer pays for the loss.

Provides Protection When You Travel

Renters insurance not only protects your personal belongings at your rented apartment but also when you travel. If you travel a lot and take part of your possessions with you, renters insurance provides limited coverage based on the agreed limits. Check with your insurance provider for details on what is covered and what is not.

Additional Living Expenses

Suppose your Myrtle Beach, SC home becomes unlivable due to fire damage or any other peril. In that case, renters insurance can help settle you in a convenient location where you can live a normal life like going to work or school and having access to other amenities. If you choose to live in a hotel, your insurance company may compensate you for the additional costs incurred during the stay. The amount may vary based on your policy limits.

Renters insurance is an essential policy for every tenant. If you haven’t bought yours yet, our insurance experts at Benefit Insurance Services are ready to provide advice and guide you through the process so you make an informed decision. Call us today!

Health Insurance Can Provide Peace of Mind

There are many ways to improve your peace of mind, and one of those ways is through health insurance. Good health is a precious commodity, and being able to handle any health issues without putting your family and assets at risk also matters. With the right insurance policy, you’ll be more likely to have that opportunity. At Benefit Insurance Services, we want all of our Myrtle Beach, SC area customers to get the support and guidance they need to make wise insurance choices. We’re here to help answer your questions, so you can choose a policy that meets your needs.

The level of security that comes with good insurance is easier to attain when you work with trusted professionals who care about your policy and coverage needs. Whether you’re trying to protect your health so you can keep doing the things you love, or you’re more focused on caring for your family if you experience a medical event, the right policy could make all the difference. Trusted insurance agents who can give you the information you need are important, so you have a policy you can rely on and feel good about.

If you’re in the Myrtle Beach, SC area, come see us today at Benefit Insurance Services. We’ll be here to give you information and help you choose the right health insurance policy. Then you can get back to living your life and doing all the fun things you want to do, without worries about proper insurance coverage. Not only will you feel more comfortable, but your family could also have additional peace of mind knowing that they’re better protected, as well. Taking care of your health is important, and a big part of that is ensuring that you have coverage to protect you if a medical issue happens. We can help with that.

Life Insurance Options in Myrtle Beach, SC

If you want to know more about life insurance and all of the options that are available to you in Myrtle Beach, SC, you should consider working with a firm such as Benefit Insurance Services.

There are a few different options that you have in terms of life insurance in the state of South Carolina. Some of the main ones are as follows:

  • Term life insurance. If you purchase one of these policies, you will purchase it for a particular time frame. Typically, this is going to be 10, 20, or 30 years. Once this term is over, the policy will no longer be effective. Typically, this is the option that will cost the least amount of money.
  • Whole life insurance. Whole life insurance will never expire. Given that you are still paying your premiums, your policy will be effective. Your payment will be rolled into investments and accumulate equity so that you will be able to cash out the policy when you need to do so. It is also going to be an option to save your equity and use it as a payout for all of your loved ones in the event of your death. The payoff of this type of life insurance is more certain, even if it costs more money than does term life insurance.
  • Universal life insurance. If you had universal life insurance, you will have a fairly flexible policy that combines the advantages of term and whole life insurance policies. Similar to whole life insurance, it will accumulate cash value, and you will be able to take out loans that go against your equity. You could also use your accumulated earnings to cover premium costs if you need to do so.

If you are interested in obtaining life insurance in Myrtle Beach, SC, you should contact the professionals at Benefit Insurance Services. These individuals will be able to answer many questions that you might have and potentially help you figure out which life insurance policy is the best one for you.

Why South Carolina Business Owners Should Consider The Benefits Of Workers Compensation

Based in Myrtle Beach, SC, Benefit Insurance Services helps the local community find coverage. We offer our clients multiple types of policies so that they will be protected regardless of the circumstances that may arise. We proudly serve as an independent insurance agency.

Why Business Owners Should Explore The Benefits Of Workers Compensation

Operating a business is a major investment that takes a lot of commitment and dedication. As a Myrtle Beach, SC business owner, you face a lot of responsibilities operating your business on a day-to-day basis. Commercial insurance is an asset. The coverage helps alleviate some of the stress that you may feel by protecting your business if your property is damaged or destroyed. Another important part of your commercial insurance policy is workers compensation. Workers compensation allows you to take care of your employees while protecting your business. Here is a closer look at the benefits of workers compensation.

Covers Your Employees

Workers compensation covers your employees if they are injured on the job. The policy also takes care of their treatment and rehabilitation, which prevents you from having to deal with a potential liability dispute.

Enhances The Reputation Of Your Business

Adding workers compensation shows that you care about your employees and you value their contributions. This can help your business improve its customer retention rate and help you attract the top talent in the industry.

Covers Disability

If one of your employees suffers a serious injury, workers compensation covers them if they become disabled. You can opt to provide temporary or permanent coverage to your employees. This allows you to help make the best out of a terrible situation.

Benefit Insurance Services Will Help You Protects Your Assets  

Visit our website today to learn more information about commercial insurance.