A Primer on Business Owner’s Policies

What Is a Business Owner Policy?

A business with a publicly accessible office or a storefront requires both property and liability insurance. Many insurance companies bundle these two types of coverage into a single policy referred to as a business owner policy (BOP). While it includes all necessary coverage, it typically sells at a premium that costs less than purchasing each policy type individually would.

While you can add coverage as needed to a BOP, the policy you receive has certain standard coverages. The average BOP offers four types of protection:

  • property damage
  • named perils
  • business interruption
  • liability

You can add to the BOP many of the variety of commercial coverages, including crime, fidelity, forgery, inland marine, spoilage of merchandise, etc. Some policies let you add the cost of operating out of a temporary location. The named perils usually include explosion, fire and smoke damage, wind damage, and vandalism. Depending on the area, some frequent storm types, such as tornado and hurricane, may be included.

Not all businesses in Oviedo, FL qualify for a BOP. The Wurzel Agency determines this based upon your business’ location, business class, location size, and annual revenue. If a business does not qualify, it may ask for special considerations providing that it meets eligibility criteria. Typically, small- to medium-sized companies purchase a BOP.

The buildings covered include both those owned or rented. It also includes additions and construction of additions as well as outdoor fixtures. Some BOPs not only cover your property but that of a third-party in your care or control, which means it features to a limited extent one of the components of inland marine insurance.

Contact The Wurzel Agency of Oviedo, FL today to learn more about BOPs and learn if your business qualifies. We can help you get started protecting your business today.

Let’s Keep Our Florida Lawns (and Ourselves) Safe

For many of our Florida neighbors, summer means more than sunshine and vacations. It also means working in the yard — often with tools that can be dangerous if not used properly.

Each year about 400,000 people are treated for injuries from lawn and garden tools, according to the U.S. Consumer Product Safety Commission (CPSC). Don’t let your landscaping efforts land you in the hospital! Follow these handy safety tips.

Tool safety tips from the CPSC:

  • Dress appropriately. To protect yourself from debris when using lawn tools, wear eye protection, long pants, long-sleeved shirts, close-fitting clothes and no jewelry. Sturdy shoes are recommended, and ear plugs may be appropriate depending on how loud your device is.
  • Before starting, remove objects from your work area that could cause injury or damage, such as sticks, glass, or stones.
  • Keep children indoors and supervised at all times when any outdoor power equipment is being used. Never let a child ride or operate a garden tractor or riding mower, even if the child is supervised. And never assume children will remain where you last saw them.
    Use extreme caution when backing up or approaching corners, shrubs, and trees.
  • Teenagers using power equipment should always be supervised by an adult.
  • Handle gasoline carefully. Never fill tanks while machinery is on or when equipment is still hot. Of course, you should never smoke or use any type of flame around gasoline or any gasoline-powered equipment.
  • Do not work with electric power tools in wet or damp conditions. For protection against electrocution, use a ground fault circuit interrupter (GFCI).
  • Be sure that extension cords are in good condition, are rated for outdoor use, and are the proper gauge for the electrical current capacity of the tool.

Lawn Chemical Safety Tips from Texas A&M University

  • If you use chemicals to control weeds or pests in your lawn, read the product label carefully so you understand the potential effects on humans, animals and the environment. Follow all instructions.
  • Keep children and animals away from the application area, and protect your skin, eyes, and nose during and after application.
  • Remember, use only the recommended amount. Using more of the chemical will not do a better job.
  • Ask yourself if you truly need to use a general pesticide. Is there a product that will specifically treat only the problem you need to solve?

From all of us at The Wurzel Insurance Agency, here’s to keeping both you and your lawn healthy and safe this summer!

Home Insurance: Protect Your Biggest Asset With the Right Policy

Living in Oviedo, FL or the surrounding area can mean a beautiful location and a lot of great amenities close by. But while you’re enjoying life in the sunshine state, don’t forget to make sure you have the proper home insurance. The Wurzel Agency is here to help, with the homeowner’s policies that can meet your needs. You’ll want to be sure you’re covered for hurricanes and other events, along with the basic coverage you have on a home. In order to get the right level and type of coverage, you should work with a trusted agent who can answer your questions and ensure that your largest asset is being adequately protected so you can have some peace of mind.

Whether you have a mortgage company that requires insurance or your home is yours alone, it’s still a good idea to have a homeowner’s policy that’s thorough and complete. With the right level and type of coverage, you can feel secure that your home and family will be protected. It’s exciting to own a home, but it’s also a big responsibility. Fortunately, you have quality insurance agents on your side to make sure you’re getting the help and support you need. Feel free to ask us plenty of questions, too, so you can make an informed decision on your coverage levels and other considerations. We’re happy to help you be an informed consumer.

By reaching out to The Wurzel Agency today, you can get started on finding the right home insurance policy for your Oviedo, FL house. We know you have options for policy coverage, and we’ll be here to advise you so you can make a good choice you’ll be happy within the long run. It’s also a good idea to review your policy at least once per year to make sure everything’s up to date. Sometimes when life situations change, this means a change in coverage should happen, as well. Contact our office to have your questions answered.

Why should I get a renters insurance policy?

Living in a rental property is common for a lot of people in the Orlando or Oviedo, FL area. When you do move into a new apartment or rental home, you need to make sure that you handle all of your responsibilities. Part of this is finding a quality and reliable renters insurance policy. There are several reasons why you should get one of these insurance policies when moving into a new rental unit. 

You Want to Comply with the Lease

The first reason why you should want to get a renters insurance policy is that you will want to comply with the terms of the lease. Having a renters insurance policy is good for the tenant and the landlord. Due to this, it is undoubtedly going to be required at all times. If you do not have it, you could face a variety of issues due to lease defaults.

You Want to Have Coverage

Another reason why you will need to have a renters insurance policy is that you will want to have your property covered at all times. A renters insurance policy gives great coverage including protection for your personal assets and liability. Having this coverage at all times is quite important. Due to this, you should never allow it to lapse. 

When you are in need of a renters insurance policy, you should contact the team at The Wurzel Agency. For those that are in the Orlando or Oviedo, FL area and need a renters insurance policy, The Wurzel Agency can help you understand all of your needs and options. Based on this assessment, we can then help you find a policy that provides you with the right type and level of coverage. Contact our office to get started with a quote.

Spring cleaning tips from The Wurzel Insurance Agency

Spring is a time for new beginnings, so cleaning and organization around the house are top-rated this time of year. 

If you’re ready to tackle that monumental chore, knowing as spring cleaning, read on for some helpful information! (And if you’re so tidy and organized throughout the year that spring cleaning isn’t a big chore for you, well done! We might be a little jealous!) 

Take it one room at a time. Deciding to clean or organize your entire home can quickly become overwhelming. If you focus on just one area or room, then move to another only when you’re finished, you’ll likely work more efficiently.

Follow the six-month rule. Generally, if you haven’t used something in six months (except seasonal items), it’s a good idea to consider throwing it away, recycling it, or donating it. 

Don’t forget the kitchen. Just like other rooms, your kitchen likely stores items that haven’t been used in some time — and this includes food in the refrigerator or freezer. Give those appliances a thorough cleaning, get rid of expired foods, and donate unexpired foods you won’t be eating.

Set yourself up for success. Paper clutter is something we all could probably cut back on pretty quickly. Setting up a few recycling bins throughout the house gives you a convenient alternative to setting that old magazine or paperwork down somewhere and watching the pile grow.

Make some money! The spring-cleaning garage sale is a tradition for many homeowners and can be a great way to bring in some extra income. Talk about a win-win situation — you get rid of stuff you don’t need, and someone pays you for it!

Stay safe. When you’re cleaning or maintaining your home, be mindful of the physical risks involved. Lift with your leg muscles, not your back. Avoid prolonged repetitive motions. Use ladders, lawnmowers, and other dangerous tools with caution.

Happy spring, and happy cleaning!

Do I Need RV Insurance in Florida

Florida is a great place to own an RV. The state has 175 state parks, and 59 offer camping. IT can be the perfect place to get away with your RV. Additionally, there are 3 National Parks, and all of them have camping. Whether or not you need RV insurance in Florida depends on the type of RV you have and whether or not you have a loan on your RV. At the Wurzel Agency in Oviedo, FL, we understand RV insurance and the people who own RVs, and we have the information you need to protect your recreational vehicle.

If you own or rent a Class A or Class B RV, you need to carry the same type of mandated insurance as any other motor vehicle in the state of Florida. Florida law requires 10/20/10 liability coverage. $10,000 for bodily injury person but to a total of $20,000 and $10,000 personal coverage. If you have a loan on your RV, your lender will require liability as well as collision and comprehensive coverage. But no matter what type of RV you have, even if it isn’t required to have insurance, getting insurance for it may be the right thing to do. Collision and comprehensive coverage can help to pay to repair your RV if it is damaged. Collision covers damage from accidents involving other vehicles and comprehensive covers damage from other than collision events. 

You likely spend quite a lot of money on your RV, so protecting it with insurance only makes sense. If you have purchased an RV and are looking for insurance or you are ready to look for a new agent, The Wurzel Agency in Oviedo, FL would love to sit down with you to discuss your RV insurance needs. Give the office a call or stop by and let us give you a no-obligation quote. 

Ready to Remodel? Time to Call Your Insurance Agent!

Ready to make your home improvement dream a reality? It’s essential to have the right type of insurance and the right amount of coverage first! 

Insurance should be in place during and after construction. If you’re considering a remodeling project, it’s essential to contact your agent before the process begins. Waiting until the project starts or is already finished can be an expensive mistake, so be sure to take the following essential steps first: 

1. Discuss home improvement plans with your agent. Ask about updating your homeowner’s policy, and ask whether other types of insurance will be needed for protection during the construction process. Only those who are qualified to perform DIY projects should attempt them. People who are not construction workers should not help unless there is sufficient liability coverage for their protection. Many homeowners must raise their no-fault medical protection limit for such workers. For a larger project, it is best to consider a “course of construction” policy. This covers the home during the building process from weather or theft damages.

2. Make sure the contractor is covered. Before allowing a contractor to start work, ask to see his or her insurance policies. Contractors should carry both workers’ compensation and commercial general liability insurance. If one of the insured contractor’s workers sustains injuries, that individual will not be able to sue the homeowner. Contractors who are unwilling to provide insurance documents should never be hired.

3. Store all receipts and records. Be sure to take photographs before, during, and after the remodeling project. This provides a virtual history of what the property looked like during each phase. Hold on to all contracts from contractors, and be sure to save the receipts for all materials purchased. Keep receipts for any other belongings bought for the home during the project as well.

4. Update insurance policies again after the project. Let your agent know when any home improvements are completed, as insurance amounts may need to be increased following a major renovation. All of the records and receipts may need to be copied and sent to the insurance company. This helps them assess needs and assign accurate values for the improvements. Your agent will be able to recommend any coverage needed for more expensive items. You may need additional liability coverage if a pool or spa was added, or an umbrella policy may be the right solution for this situation.

Be sure to ask your agent about discounts as well! When you install smoke detectors, stronger doors, deadbolt locks, or burglar alarms, they may qualify for discounts. Some insurers also offer more significant discounts to people who install more sophisticated burglar alarm systems, sprinkler systems, fire alarm systems, or other devices. 

If you’ve updated your plumbing, electricity, roof, or windows, those may also qualify for discounts. This is especially true if any energy-saving features were installed. In areas prone to intense storms, shutters, reinforced roofs, and shatterproof windows could also earn you a discount, so be sure to ask your agent about what your insurance company offers. 

Don’t forget: If a remodeling project is the result of a growing family, be sure to consider your other insurance needs, such as a life insurance policy, as well. 

Have some new jewelry in the house? Protect it!

Valentine’s Day is near, and love is in the air. Well, love and a few other things – like chocolates, romantic dinners, candy hearts that say “BE MINE,” and, of course, jewelry.

It’s exciting – not to mention romantic – to receive jewelry from a loved one or give it as a gift. If you’re lucky enough to have received some new jewelry this Valentine’s Day, it’s a good idea to take a few minutes and think about something you probably don’t find exciting or romantic: insurance.

Don’t know where to begin? Don’t worry. At The Wurzel Insurance Agency, we think it is exciting to help our customers protect what’s most important to them — so we’re ready to help and can answer all of your questions.

Things to consider when insuring jewelry:

You may need to purchase additional coverage. Your homeowner’s policy covers valuable items such as jewelry only up to set amounts. If the cost of replacing your jewelry exceeds that limit, you will want to purchase scheduled personal property coverage. 

You might want to reconsider your deductible amounts. As always, this impacts your policy premium. It’s a good idea to take a look at your deductibles whenever you make a change to your policy.

Do you need an appraisal? You may need to have an independent evaluation if the insurance company requires it or if you don’t know the value of your jewelry. Each item should be listed with a description and value on paper.

What kind of coverage is offered? You’ll want to determine if items are covered no matter where they are, whether they’re safely stored at home or being worn on an international trip, and if the policy offers full replacement cost. You also should ask if you will be required to replace your jewelry if lost or stolen, or if you can keep the cash settlement.

Photographs can be helpful. Lost or stolen pieces of jewelry can sometimes be recreated if the jeweler has a good photograph to work from.

Should I go with a company that specializes in jewelry insurance? Some insurance companies specialize in jewelry insurance, and we only represent companies that are reputable and stable. We’re happy to advise you on all the options available. 

Is the value of your jewelry mainly sentimental? Is an item irreplaceable? If the answer to either of these questions is “yes,” you might consider foregoing insurance. But please talk to us before making that decision. We’re here to help you assess what’s needed when it comes to insuring your valuables. 

Of course, it’s essential to store your jewelry securely when it’s not in use. A safe in your home or a safe-deposit box is best. We want your jewelry to be replaced if it’s lost or stolen — but we’d rather your sentimental and valuable pieces stay with you and your family for years to come.

Here’s hoping your Valentine’s Day is full of fun and romance. And if there’s no jewelry involved, well, there’s always next year!

The Importance of Taking a Motorcycle Safety Class

If you own a motorcycle, safety should always be one of your highest priorities. Whether you have ridden for one month or 30 years, it’s crucial to stay up to date on all of the motorcycle laws in Florida and also learn about new safety maneuvers that are being introduced. Agents at The Wurzel Agency serve motorcycle owners throughout the Oviedo, FL area, as well as many of the surrounding communities. We can also help you find details about where motorcycle safety classes that are being held in your area. 

Better Understand Motorcycle Laws

A motorcycle safety class will give you valuable information on the laws that are in place in the state of Florida. In Florida, you do not have to wear a helmet if you are over the age of 21 and have the required amount of medical insurance. With that being said, it is vital that you know the laws of the road and abide by them to minimize your risk of an accident.

Learn How to Handle Your Motorcycle Safely

The purpose of a motorcycle safety class is to teach you how to ride safely in a variety of situations. You will learn various maneuvers and techniques that are designed to keep you and your passenger as safe as possible while you are riding along Florida’s highways.

If you are interested in learning more about motorcycle insurance and motorcycle safety classes, call and schedule an appointment with one of the agents at The Wurzel Agency. We serve people from Orlando to Oviedo, FL, and many of the surrounding communities and are ready to give you the answers you need. Call and talk to an agent today!

You Can’t Afford to Not Have Professional Liability Insurance

At some point, most businesses are involved in some legal dispute, be it over an alleged physical or property damage to a third party or financial injury to a competitor, client, or vendor.

As a business owner, it’s crucial to have insurance in case you are targeted to help pay for legal costs and any settlements or judgments. The type of liability your business could face will depend on the kind of work you do.

If you’re in a service trade, the chances of your work causing someone physical damage or harm are remote, but you could still be sued for not living up to your part of a contract or if your services caused a client to lose money.

The costs of defending against a lawsuit of that type could quickly mount, even if you come out victorious in the end. Without the appropriate insurance, you’ll be paying these costs out of pocket.

In many services trades, the outcome can be disastrous to your finances. Lawsuits often catch you by surprise — they could even be for work you completed years ago.

The unfunded lawsuit

Here’s a scenario that could leave you scrambling for funds. You run an engineering firm. And a manufacturer sues your business after one of the machine parts that you designed failed, causing one of the client’s machines to seize up, resulting in $58,000 in damage to the device and production downtime.

The lawsuit accuses your firm of negligence. Your business could be facing severe financial hardship as the suit asks for the cost of repairs and the lost production. Here’s what you’re looking at:

  • Attorneys’ fees. Depending on where you live, these can range from $150 to $400 an hour, or more if you go with a topflight law firm.
  • Court expenses. Fees for copying, filing, and other miscellaneous tasks all add up.
  • Other legal fees. You may need to call expert witnesses, as well.
  • Damages or settlements. Even if you try to reach an agreement with your client, they may opt to take the case to trial in hopes of winning the full amount of the damages they are claiming.

You can see how the costs can quickly mount. It the case gets to damage or settlement stage, the costs will increase significantly.

Even if the case were frivolous, you’d still have to pay attorneys to defend it and file motions to have it tossed out of court. That alone could run you at least $5,000 in legal fees — much money to pay out of pocket.

The U.S. Small Business Administration estimated in a recent study that legal costs for litigation ranged from $3,000 to $150,000, and only one-third of small business owners reported spending less than $10,000. 

There can be other fallout, as well. Perhaps word has gotten out about the lawsuit, damaging your reputation and ability to attract new clients and retaining existing ones. If one client has sued, others who may have had similar experiences could also file suit.

Professional liability insurance

Insurance can save you from these significant expenses. This relatively inexpensive coverage is what’s known as “claims-made” coverage, meaning your policy must be active when the alleged incident occurred and when the claim is filed to receive your benefits.

Client allegations that your work caused them a professional liability policy often covers a financial loss. Professional liability insurance can include errors and oversights with your work, as well as legal fees and the cost of settlements or judgments.

Is your business covered?