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Park & Associates Inc Blog: coverage

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The largest difference between the two types of policies are that an HO3 policy is specifically for a house that is owner occupied and an HO6 policy was created for a condo unit owner. The HO3 policy is a mixture of named perils and open perils coverage. The HO6 policies tend to be fully named peril policies. READ MORE >>

On the morning of December 11, 2019 one of South Florida’s largest car dealerships was paralyzed by a cyber attack. Arrigo Automotive Group was a hacked with ransomware during one of the busiest months of the year for the local dealership. The hack left employees without work for days until new computers were installed at a price tag of $285,000. READ MORE >>

When purchasing homeowner’s insurance, one of the main considerations is determining how much coverage is needed for the structure.  Insuring your home at replacement cost is recommended and should not be insured based on the market value. Market value is the value of the home including the land which is not covered by the policy. READ MORE >>

House fires can happen very fast and sometimes they can be deadly disasters. There are many precautions you can do to avoid a kitchen fire: 1)      Install a smoke detector close to the kitchen to sense a fire, but not close enough that it will trigger every time you cook something a bit smoky or steamed. READ MORE >>

Being properly insured is important, however, carrying the right amount of liability coverage is especially critical. Liability claims can quickly spiral out of control and put your home and other assets that you worked so hard for at risk if you are not properly insured. READ MORE >>

Crime coverage is a very important coverage for all homeowners and condominium associations as it protects the association’s funds from a board member or property manager absconding with their funds as well as other third parties. READ MORE >>

Insurance isn't a gamble. It's something you must take seriously. Before you buy a policy, make sure you're covering all of your bases. Insurance mistakes cost you money. So, don't take a gamble. Grow your business. And before you buy intricate policy add-ons, make sure you're not putting your eggs in the wrong basket. READ MORE >>

Why is this coverage so important? Do I really need to purchase it? After all, I do have medical insurance. Uninsured/Underinsured motorist coverage is a very important coverage that is highly recommended by insurance professionals. READ MORE >>

Whether you haven't cracked a book since college, or finish one a week, it’s a good idea to start reading business books. They're cheaper than going to conferences and you can refer to them over and over again. Here are some top reads when it comes to small business: 1. Crush It! READ MORE >>

Some of the most common reasons why people don't purchase dog liability are because: Their dog is old Their dog is small Their dog doesn't bite But these reasons might not be valid. According to the Center for Disease Control (CDC), approximately 4. READ MORE >>

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