Common Types of Commercial Insurance

Business owners in the Monroe, CT area may have questions concerning what types of commercial insurance they need to protect their business and employees.  Fida Insurance Group has friendly professional agents available to discuss the three main types of commercial insurance which are:  property insurance, liability insurance, and workers’ compensation.  

Property commercial insurance is necessary to cover any buildings your company may own or lease.  This type of insurance will cover the buildings as well as your personal belongings and the personal property of others in case of damage or loss.  Not only is the actual company-owned or leased building(s) covered, but the company property is covered as well.  This could include but is not limited to tools, equipment, inventory, and furniture.  Having the right policy in place will help you in the event your business has to repair or replace any of the property or equipment due to a natural disaster like a hurricane, blizzard, lightning strike, hail storm.  This type of coverage also helps if the damage prevents you from reopening and helps to get the business up and running once the repair and replacements are made.  

Commercial liability insurance will protect your business from claims alleging bodily injury or property damage as well as possible libel and slander issues as well.  Liability insurance can help a business if its reputation is harmed due to slander, libel, malicious prosecution, or even wrongful eviction. 

Workers’ Compensation Insurance will protect your employees and your business from any work-related accidents that may occur on your property or while outperforming a service for a client.  Businesses in almost every state are required to carry this type of insurance to cover medical costs and loss of wages for workers who are hurt or become sick on the job.  

Fida Insurance Group can help you make sure your business is covered properly with property, liability, and workers’ compensation insurance.  Many clients will require proof of insurance before they will sign a contract for you to provide them with goods or perform services.  Start at our website to start looking for the right policy for your business. 

How Does Home Insurance Cover Carpeting?

When you install new carpeting in your Monroe, CT home, you’ll want to put in a call to your insurer and let them know.

As a general rule of thumb, if it’s attached to the home, it’s part of the home. If it’s not, it’s filed under possessions. This means that new carpeting, or any flooring, is included with the value of the home. And, it means that a throw rug is a possession. Even a room-sized rug is a possession. These will be included in your inventory alongside your TV, jewelry, and so on.

This extends to furniture and appliances and such, as well. A sofa is a possession. But if you convert a window into a sitting window, that’s part of the home. The throw pillows you use to cushion the seat are possessions, but what you sit on is part of your home.

There are a few exceptions to the "if it’s attached" rule, of course. A poster you’ve hung up on your bedroom door isn’t part of the house, as far as your home insurance provider is concerned. Shelves can be part of the house, but because shelves are generally cheap and easy to replace, most people don’t bother getting them covered on their policy either way. Cabinets, on the other hand, are very much a part of the structure.

If you’re ever unsure as to whether something is a personal possession or part of the home, give your insurer a call. It’s not always set-in-stone or uniform from one insurance company to the next, and your insurance agent is here to answer your questions, that’s a big part of what you pay them for.

If you’re still shopping around for home insurance in Monroe, CT, get in touch with Fida Insurance Group. At Fida Insurance Group we can compare quotes and get you protected with a policy that works for you.

When Is the Best Time to Update Your Car Insurance?

Owning a car in Monroe, CT is important, and it comes with a bit of responsibility. You have to have insurance for your car, and the prices and requirements of that insurance change all the time. If you’re wondering when your insurance should be updated, these are some of the most important times.

When You Change Cars

It’s pretty obvious that you should update your insurance when you buy a car. But, sometimes you might switch which vehicle is your primary without making a purchase. Maybe you moved closer to work and don’t need to drive the efficiency commuter as much. Maybe you have a lifestyle change that makes the other car more comfortable. For whatever reason, if you find which car you drive the most changing, it’s a good idea to inform your insurance company.

You Hit Milestone

There are a lot of lifestyle factors that affect your insurance rates. Hitting 30 might get you lower premiums. Getting married can have an impact. So can having kids. Any time you go through a major change, chat with your Fida Insurance Group representative to see if it can lead to savings.

You Move

While moving can be considered a milestone, it’s of particular importance to your insurer. Each state has its own insurance laws, so if you move out of state, you need to let the insurance company know. They need to make sure you’re legally compliant. Even if you’re just moving to a new neighborhood in Monroe, CT, the new address can impact your premiums. Substantial changes in the traffic surrounding you and other factors can all impact your premiums.

The best way to always have the best insurance policy is to keep your Fida Insurance Group rep informed. They’re always looking for ways to help you. Keeping in touch only empowers them to do their job.

Life Insurance After Baby: Is it Time to Upgrade Your Policy?

Monroe, CT residents: have you recently decided to add another member to your family? Will you and your spouse be thinking about having a baby? If so, you should consider upgrading your life insurance policy.

The decision to have a child is one of the most joyful experiences in a couple’s life. But there is so much to think about! From painting the nursery to thinking about a birth plan, to researching a travel system and connecting with local daycares– there is a lot to consider.

One of the most important decisions to make is what sort of life insurance makes sense for your family. As the size and age of your family changes, you should consider upgrading your life insurance policy. 

Life is full of uncertainty. If something unexpected should happen, you will want to have the peace of mind to know that your family– including your new son or daughter– will be financially set. Your newborn may be a beautiful, bald delight now, but before you know it, she or he will begin attending preschool– and eventually college! Make sure your life insurance plan takes all the needs of your family into consideration.

Fida Insurance Group knows that new parents don’t have a lot of energy to think about these things. After all, you’re focused on getting enough sleep and making up bottles! That’s why your agent will help you make the right decision regarding life insurance changes for your growing family.

Simply request a quote through our simple online tool. You will be connected with a Monroe, CT agent who can simplify the process and get you set up with exactly the coverage you need. 

Children are a blessing, but with big life, changes come important decisions about life insurance. Contact your Fida Insurance Group representative today to talk about what your new baby means for your life insurance policy.

3 Ways to Keep Your Connecticut Business Clean During Allergy Season

As your Monroe, CT business prepare for Spring, it is important to keep your business clean. Your employees and your customers are fighting allergies and pollen. At Fida Insurance Group, we believe in having a clean environment that will keep your employees healthy and your customers coming in. 

Declutter Your Lobby and Hallways

Having a lot of papers or equipment gathered together makes a great home for dust. It is best to clear these areas so that they are easily cleaned daily and dust collection is minimized. Shred any papers that you do not need and give equipment storage out of the hallway. 

Use Disinfectant

When you wipe down surfaces and walls, make sure that you are using disinfectant cleaners. They kill any germs or mold that may be lingering in the dust. These germs cause the common cold and can spread quickly among those in the area. Any mold you have in the area will also cause uncomfortable symptoms and trigger sinus infections. 

Furniture Cleaning

If you have a lobby area with seating, you should have your furniture cleaned. This removes any dust or allergens that may be down in the furniture gathering throughout the year. When your customers or clients visit your business and sit in these seats, the allergens will come out and cause discomfort. 

Protect Your Connecticut Business Today

Offering a clean workplace for your employees and a place of business for your customers is essential. Healthy employees keep you fully staffed so that you can provide quality service to your customers. They will also return to a place of business that is clean and cares for their health. 

If you are in need of commercial insurance in the Monroe, CT area, contact our agents at Fida Insurance Group today. 

Do I need home insurance in Connecticut?

Anyone that lives in the Monroe, CT area should consider purchasing a property. This area offers a lot of value and potential to homeowners. If you are going to buy a home in this area, you need to make sure that you are properly protecting your investment. The best way to do this is by getting a home insurance policy. There are several reasons why you need to get home insurance. 

Protects Asset and Gives Peace of Mind

One important reason to get home insurance is that it can provide you with peace of mind and protect your valuable asset. Most people will never own an asset that is more valuable than their property. At the same time, it gives you a stable place for you and your family to reside in. By getting a full home insurance policy, you are going to protect your asset and residence, which will give you comfort and peace of mind.

Ensures Compliance

Another reason why a lot of people in the Monroe, CT area need to get home insurance is that it will ensure that you are in compliance with all agreements. Anyone that uses a mortgage to buy a home will need to have home insurance to comply with the loan agreement. Further, if you are in an area that is governed by a home association, liability home insurance is a necessity.

Anyone that is shopping for home insurance in this area of Connecticut should reach out to the team at Fida Insurance Group. When you call the Fida Insurance Group you will receive the guidance and support that you need to make a good insurance decision. This will ensure that you and your property have proper insurance in place to protect you home. 

What Does Collision Insurance Cover?

You probably already have auto insurance if you have a vehicle, or perhaps you are in the process of shopping for new or better coverage? Whatever the case may be, it is important to know how each auto insurance option works to protect drivers both on and off the road. 

Collision Insurance Protection

If you have a financed vehicle or a newer model vehicle that is worth a significant amount, you will want to carry full coverage auto insurance, complete with collision coverage? But what is collision insurance? This type of insurance add-on is designed to protect you from losses if there is a covered event. It will repair or replace your vehicle if it is involved in an accident with another vehicle. This type of insurance is also required by financing companies before you can drive off of the car lot when you make a purchase. 

Finding The Right Amount Of Coverage

When you are choosing the amount of collision insurance, it helps to have the guidance of a knowledgeable agent so you can get the right coverage amount to fit your needs. The amount of coverage is related to the maximum protection for each outlined event and the amount of the deductible you need to meet before the insurance will cover the remaining portion of the repairs or replacement. If you live around the Monroe, CT area, you should consult with Fida Insurance Group to learn more about your coverage options and to get assistance with choosing the auto policy.

Having the right amount of collision insurance coverage can make dealing with an accident easier. Call or stop by Fida Insurance Group today to learn more about the options that residents of the Monroe, CT area have and how to get covered today.  

How to determine how much life insurance I need

Do you have life insurance? If so, how did you figure out how much you need, or was it just a random amount you chose without putting much thought into it? There are a few things you should consider when purchasing life insurance, such as the type of insurance and calculations that will work for you.

Life Insurance in Monroe, CT

In order to successfully calculate the amount of life insurance you need, you should be considering the following:

  • Annual income
  • How many years you need the coverage
  • The value of your assets
  • Any money you may need for a child’s education
  • Amount of debts
  • Existing life insurance

Once you calculate this, consider any after-tax income to replace, any optional coverage, total coverage needed, any existing coverage and the new life insurance needed. All these calculations work together to help get the right amount of insurance in place to make sure your loved ones are covered in the event some unexpected tragedy occurs.

Making the Right Decisions

A good agent will help you make the right decisions. The team at Fida Insurance Group will be able to sit down and evaluate your needs, helping make an informed choice. The requirements of each state differ, so what may be available in one state may not be available in another. Your agent will be able to give you all the logistics and answer any questions you may have to give you accurate projections on what you will need and the type of life insurance that will work best for you. For more information on obtaining life insurance in Monroe, CT, contact the team at Fida Insurance Group today!

The ABCs of Business Interruption Insurance

Your Monroe, CT area business depends on constant cash flow to thrive. When you can’t work, nothing comes in. However, you’re still responsible for bills, payroll, and other regular expenses. Without a backup plan, you could quickly find yourself struggling to keep your doors open. A business interruption insurance policy from Fida Insurance Group can provide help during times when you can’t produce income from your business ventures.

As part of your comprehensive business-coverage, interruption insurance gives you extra cash when your business needs to close due to a covered event. While every contract is unique, your business interruption policy generally covers:

  • Lost profits. Based on historical earnings, your policy pays out a portion of the profits you would have earned if the covered event had not occurred.
  • Fixed costs. Your normal business expenses are included in this calculation. This can include normal operating expenses like utility payments, payroll checks, rent, and even insurance premiums.
  • Temporary relocation. If you need to move your operations to a temporary location while your primary space is repaired, business interruption coverage helps defray your cots.
  • New equipment purchase and training. When your equipment is destroyed, your policy will help pay for replacements. You can also use the funds to train your workers on the new equipment.
  • Taxes and loan payments. Regardless of how your business does, you’ll still have to pay certain taxes and bank loan obligations. These policies provide funds for these essential charges.

As a part of your comprehensive business owner’s policy, your business interruption coverage is triggered by the occurrence of a specifically covered event. Talk to the experts at Fida Insurance Group to learn which perils you can gain coverage for and how this policy addition can provide long-term protection for your Monroe, CT area business.

 

5 Ways to Prepare Your Home for the Holidays

If you’re hosting festivities this holiday season, now’s a good time to prepare your home to avoid holiday stress. The following tips from Fida Insurance Group offer some good advice on prepping your Monroe, CT home for the holidays.

De-clutter

Get rid of stuff that’s cluttering up your living space and making it appear disorderly. This could include magazines, books, piles of clothing, toys, sports gear or anything else lying around where it doesn’t belong. Store useful items out of sight and give or throw away what you don’t need to spruce up your home.

Deep Clean Key Areas and Structures  

Deep clean your living room, bathrooms and kitchen to prepare for visitors to your home. Wash windows and curtains, professionally clean carpets, clean light fixtures and put a fresh coat of paint on walls. By starting early, you can get these major projects done with time to spare for holiday fun.     

Decorate Your Home

Decorations add a special touch to holiday fun. You can put up fall décor several weeks before Thanksgiving to get into the spirit of the holiday and then start decorating for Christmas shortly after Thanksgiving is done. This gives you plenty of time to create an attractive holiday atmosphere throughout your whole home.

Prepare for Guests

Tidy your guest room and organize guest towels, linens and pillows to ensure you have what you need to make guests feel at home. Don’t forget to stock up on bathroom essentials and toiletries for when visitors come.   

Review Home Insurance

Review your home insurance to ensure you have ample dwelling, liability, and property coverage to protect you against accidents. With adequate insurance protection, you can be prepared for any eventuality during the holidays.

For quality home insurance coverage at affordable costs, contact Fida Insurance Group in Monroe, CT.