Author: agentinsure

Repairing Your Driveway: Does Home Insurance Have Your Back?

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Driveways provide a pathway for vehicles from the street to your home and serve as a convenient parking spot away from the road. When your driveway develops cracks or other damage, homeowner’s insurance may cover repair costs, minus your deductible. However, certain conditions can make this coverage uncertain. The team at Murvay Insurance explains the details.

Does Homeowner’s Insurance Cover Driveway Damage in Newport Beach?

Coverage depends on the cause of the damage. Homeowner’s insurance typically covers driveway damage caused by perils listed in your policy. Common perils include falling objects, theft, vandalism, fire, lightning, hail, windstorms, power surges, pipe bursts, and the weight of ice, snow, or sleet. If the damage is caused by one of these perils, you may be eligible for compensation. However, it’s important to share specific details with Murvay Insurance and file a claim. The most likely causes of driveway damage include falling objects, vandalism, fire, hail, and heavy ice or snow. Damage caused by anything not listed in your policy will not be covered.

Will Any Insurance Cover Driveway Repairs in Newport Beach, CA?

Coverage depends on the type of damage and the insurance policies you have. Homeowner’s insurance may cover earthquake or sinkhole damage to driveways if you have riders for these events attached to your policy at the time of the claim. Some carriers offer separate earthquake or sinkhole insurance policies, which you must purchase to cover driveway repairs. Flood insurance will cover flood-related driveway damage. Additionally, a "difference in conditions" rider can cover landslide or mudslide damage if it is part of your policy. However, home insurance will not cover damage caused by poor maintenance, wear and tear, vehicles, or actions by someone living in the home.

Speak with one of our agents about your driveway. We’ll compare your situation with your carrier’s policy to determine if you qualify for coverage for driveway damage. Contact us for more information on home insurance.

How to decide if basic auto insurance is right for you

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Basic auto insurance is the minimum coverage mandated by the state of California, and it’s the least amount of insurance you can carry to drive your vehicle legally. At Murvay Insurance in Newport Beach, CA, we are independent insurance agents who work for our customers. Our job is to personalize your auto insurance to meet your specific needs.

In California, basic insurance is liability-only and follows the 30/60/15 rule. This means you must have at least $30,000 in liability coverage for one person injured in an auto accident you’re responsible for, $60,000 for all persons injured in the accident, and $15,000 in property damage. This coverage protects other people from you but does not provide any protection for you or your vehicle.

What Type of Vehicle Do You Have?

Do you have a newer vehicle? Do you have a car loan, or are you leasing the vehicle? In these cases, you’ll likely need collision and comprehensive coverage. Leasing companies or loan providers typically require these types of coverage. You may also want to consider Gap coverage, which pays the difference between what you owe on the vehicle and what your insurance will pay in the event of a total loss.

Can You Afford to Replace Your Vehicle?

If your vehicle is damaged or destroyed in an accident and you’re held responsible, you’ll need to pay for repairs or replacement out of pocket if you don’t have collision insurance. For example, if a stone cracks or chips your windshield, or if a tree branch falls on your vehicle, you’ll be responsible for the repair costs. If this were a financial burden, having the right coverage is essential.

Contact our office at Murvay Insurance in Newport Beach, CA, to discuss your auto insurance needs. We’re here to help you find the coverage that works best for you.

Notifying Your Employees About Workers’ Compensation

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As a business owner, you are responsible for purchasing commercial insurance to protect your business assets and employees. Many business owners have questions about their commercial insurance options. If your business is located near Newport Beach, CA, our team at Murvay Insurance would love the opportunity to meet with you and discuss your insurance needs. We’ve been working with companies like yours since 2018.

Employers’ Posting Requirements for Workers’ Compensation

Your company must carry workers’ compensation insurance. This type of policy covers medical expenses and compensates employees for lost income due to workplace injuries. According to the California State Department of Industrial Relations, part of your corporate responsibility regarding workers’ compensation insurance is to post information that informs employees about the availability of this program. This information must be displayed in a location visible to all employees.

When you hire new employees, you are required to provide information about your workers’ compensation program during orientation. According to the California State Department of Industrial Relations, this information should be presented in the form of a pamphlet or handout. Failure to comply with these posting requirements is considered a misdemeanor and can result in a $7,000 fine.

Call Us Today for Your Appointment

Every business is unique, and your business has specific insurance needs. Our team at Murvay Insurance can present you with a wide variety of insurance options, ensuring you have the best possible choices for your policy. Companies in the Newport Beach, CA area have learned that our team offers excellent customer support and service. Call us today to schedule an appointment, and let’s work together to create the best insurance portfolio for your company’s needs.

Natural Disasters and Your Home Insurance: Are You Really Covered?

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A strong home insurance policy is essential for protecting your home and belongings while ensuring you and your family have a safe and comfortable place to live. If you’re in the Newport Beach, CA area and need coverage or want to update or adjust your current policy, Murvay Insurance is here to help. Our trusted agents make it easy and convenient to get the quality coverage you need, including protection from natural disasters.

Insurance Might Not Cover What You Expect

Many homeowners assume their insurance policy covers everything that could happen to their home. Unfortunately, that’s often not the case, which can lead to devastating issues if a natural disaster strikes. For example, standard home insurance policies typically don’t cover flooding, and they may have limited provisions for wildfires, earthquakes, and other events. Working with one of our dedicated agents ensures you know exactly what your policy covers and where additional protection may be needed.

Additional Policies May Be Needed for Certain Events

Flood coverage requires a separate policy, and you’ll want to ensure that other severe disasters are covered through additional policies or riders (addendums) if they’re not included in your original homeowners coverage. These extra layers of protection not only safeguard your home from risks but also provide peace of mind, allowing you to enjoy your home without worry.

We Can Help You Achieve Peace of Mind

If you’re in the Newport Beach, CA area and looking for home insurance, contact us at Murvay Insurance today. Our agents can provide you with multiple quotes, answer your questions, and help ensure you’re fully protected from natural disasters. With the right coverage, you can focus on spending time with loved ones and enjoying all the area has to offer, knowing your home is secure.

Does My Insurance Cover Stolen Items When My Car is Broken Into?

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Imagine returning to your parked car in Newport Beach, CA, only to find a window smashed and several items missing from the back seat. Will your auto insurance cover the damage and theft? The policies that provide protection might surprise you. The agents at Murvay Insurance can explain how to ensure your car and its contents are fully covered.

Standard Auto Policies Don’t Cover Content Theft

You might assume that the comprehensive part of your policy will cover theft of items left inside your car, but this isn’t the case. Your auto insurance policy will cover vandalism to your car. Comprehensive coverage includes theft, but only the theft of the vehicle itself. So, how do you protect items inside your vehicle?

Homeowner’s or Renter’s Insurance

Check your homeowner’s or renter’s policy that covers your personal items. These policies usually include a provision for items stolen from your personal vehicles. So, if you leave your laptop in your car and someone steals it, you can file a claim under one of these policies. Electronic device insurance may cover items like cell phones and computers.

Special Provisions in Auto Insurance

Some special items, such as an expensive stereo system or a bike rack, may be covered under an auto insurance policy if stolen. However, you should review your policy to see if you have such a provision. If you don’t, your carrier may offer custom parts and equipment coverage to protect vehicle upgrades. Some carriers may also allow you to add a provision to protect items you regularly keep in your car.

Protect your vehicles and their contents with various policies available through Murvay Insurance, serving Newport Beach, CA. Contact our office to get started on your policies.

Does Commercial Insurance Cover Earthquake Damage in California?

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Newport Beach, CA, is renowned for its breathtaking coastline, luxurious beaches, and upscale lifestyle that residents adore. However, this luxury haven is also situated in a seismically active region prone to strong earthquakes, which can result in expensive property damage and prolonged business interruptions.

Discover if commercial insurance covers earthquake damage from the insurance experts at Murvay Insurance in the guide below.

Does Commercial Insurance Cover Earthquake Damage?

Most commercial insurance policies in Newport Beach are designed to keep businesses operational and cover extensive damages caused by wildfires, smoke, wind, hail, and workplace accidents. Some policies even include provisions for covering damages caused by natural disasters like hurricanes, dust storms, and hailstorms.

Your commercial insurance policy may or may not cover damage to property, supplies, inventory, and staff caused by earthquakes. Local business owners may need to invest in earthquake insurance to obtain comprehensive coverage for damages caused by severe quakes.

Contact a trusted local insurance provider to understand the coverage and limits of your current commercial insurance policy and whether your business is protected from earthquakes.

An experienced local insurance agent can help you review the limits and provisions of your current policies to understand where your coverage begins and ends.

Consult a Local Insurance Professional About Commercial Insurance Coverage

The high costs of property damages and repairs in Newport Beach necessitate that local business owners ensure they have adequate insurance protection to cover a wide variety of common and uncommon perils. Please don’t wait until it’s too late to secure coverage and protect your business from devastating financial fallout.

Contact the professionals at Murvay Insurance to learn about your existing coverage and how to obtain coverage for earthquakes in Newport Beach.

Insuring a Vacation Home

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Understanding the Importance of Insuring Your Vacation Home

If you love the beach so much that you bought a house close to one, you’ve made a great choice. However, if your job means you can’t live there full-time, having a place you can call your own while on vacation is still beneficial. It beats having to pay for a hotel room and living by their rules. Plus, real estate can be a good investment if it is adequately insured. Even if you only live in a residence part-time, it just makes sense to get it insured.

Insuring Your Vacation Home

The cost of insuring a vacation home in California is moderate. While California is a popular vacation spot, there are earthquakes, fires, and floods to insure a house against. Many policies will have flood or earthquake insurance sold separately, so review it carefully. If you plan to rent the residence out when you’re not using it, you may be subject to special insurance considerations. As with any home insurance, you want to be covered for dwelling, other structures, liability, personal property, and loss of use. Granted, that last one may only come into play if, for some reason, you can’t go to your primary place of residence. Make sure to consider whether your policy covers actual cost value or replacement cost value. Be sure to shop around and get multiple quotes so you’ll know if you’re getting the best deal. Bundling your insurance may be a good idea if possible. If you install a security system, you may qualify for a discount. Look into everything and get all the details you can.

Murvay Insurance: Serving Newport Beach, CA

Whether you live in Newport Beach, CA, or have a vacation home there, Murvay Insurance will gladly help you with your insurance needs.

How Auto Insurance Supports Drivers After Natural Disasters

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Natural disasters can strike with little warning, leaving behind a trail of damage and uncertainty. This was very evident during the recent Southern California fires. The aftermath of a hurricane, wildfire, or flood can be overwhelming for drivers, especially when their vehicles are affected. At Murvay Insurance, serving the greater Newport Beach, CA area, we understand how crucial it is to have reliable auto insurance that helps you recover quickly when a disaster strikes.

Comprehensive Coverage: Your Safety Net

Comprehensive coverage is one of the most important aspects of auto insurance during a natural disaster. Unlike basic liability or collision insurance, comprehensive coverage protects your vehicle from non-collision-related incidents, including floods, wildfires, hailstorms, and falling debris. If your car is damaged or even totaled due to a natural disaster, this coverage can help pay for repairs or replacement, easing the financial burden.

Rental Reimbursement and Temporary Transportation

Access to transportation is essential after a disaster. Suppose your vehicle is being repaired or deemed a total loss. In that case, some auto insurance policies include rental reimbursement coverage, ensuring you have a temporary vehicle while you decide on your next steps. This can be a lifesaver when getting back to work or handling other urgent matters following a catastrophe.

Filing a Claim and Getting Back on the Road

Navigating the claims process after a natural disaster can feel overwhelming, but having a trusted insurance provider makes all the difference. Quick response times and clear guidance ensure you get the support you need without unnecessary delays.

If you want to ensure your auto insurance is ready for the unexpected, Murvay Insurance in Newport Beach, CA, is here to help. Contact us today to review your policy and ensure you’re protected when it matters most.

Commercial Insurance – What to Do After a Natural Disaster

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Are you prepared to handle a natural disaster that affects your place of business? Commercial insurance coverage can protect your business from unforeseen incidents that damage your business and the items within it.

Variables To Look Out For

A natural disaster could cause extensive damage, making it difficult to maintain day-to-day operations. A setback that would require you to shut down your business could be hard to recover from.

First, consider the variables that could hinder your business’ performance. Flooding, high winds, lighting, and blizzard conditions could damage the structural materials that your place of business is made of.

A natural disaster could also cause interior damage. Check the thermal envelope of your business. Take note of any inconsistencies in the design of your business. Any problematic areas that are discovered should be documented. Use the information that you have recorded when you compare commercial insurance products.

Natural Disaster Preparations

Next, take the time to familiarize yourself with the protocol to follow after a natural disaster. Once you have added sufficient insurance coverage to your existing policy, keep the paperwork in a safe spot.

Prepare an evacuation plan for you and your business associates to follow. When a disaster strikes, it is up to you to file an insurance claim. Your place of business should be evacuated in a methodical manner.

Once everyone has been moved to a safe location, take the initiative to report the incident. You will need to provide details about the damage. An insurance inspector will ultimately assess the damage. If your claim is approved, you will receive guidance regarding the repair processes.

An Agent Who Serves Newport Beach CA

Contact one of our Murvay Insurance representatives. They can assist with any insurance questions you have.

 

Using Home Insurance as a Hedge Against Property Value Declines

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In the ever-changing real estate market of Newport Beach, CA, homeowners often seek ways to protect their investments. While home insurance primarily safeguards against physical damage or loss, it can also indirectly shield against property value declines. However, this protection hinges on understanding the coverage home insurance provides and how it interacts with broader market dynamics.

Ensuring the Replacement Value

Home insurance focuses on the structure’s replacement cost, enabling homeowners to rebuild or repair their property following events such as fires, storms, or vandalism. This coverage is independent of market value, which can vary based on external economic conditions and specific neighborhood locations. In a market downturn, a policy that guarantees replacement value protects homeowners against the financial impact of repairing or rebuilding, even if their property’s market value has declined.

Extending Coverage Beyond Physical Damage

Certain home insurance policies offer endorsements that can help mitigate risks associated with declining property values. For instance, guaranteed replacement cost coverage ensures that rebuilding costs are fully covered, even if inflation or supply chain disruptions increase expenses. While this doesn’t directly address market value, it prevents homeowners from bearing unexpected out-of-pocket costs during challenging economic periods.

The Role of Insurance in Maintaining Financial Stability

Although home insurance cannot directly counteract a drop in property market value, it provides a layer of financial stability by ensuring that the property remains habitable and repairable. This stability is crucial during economic downturns, allowing homeowners to preserve their investments until market conditions improve.

Murvay Insurance: Tailored Insurance Policies for Your Needs

Murvay Insurance offers policies tailored to our customers’ needs. We serve Newport Beach, CA, and surrounding cities. Contact us today.