Smart Tips for Insuring a Home Business

There’s more to setting up a home business than creating office space and purchasing business equipment and products. It would be best to have insurance protection for your business and business assets. Although home insurance offers some measure of protection, it wasn’t designed to cover business-related losses. The following tips from Murvay Insurance in Newport Beach, CA can help you determine your insurance coverage to protect your home enterprise.

Insurance Options for Protecting a Home Business

When it comes to insuring a home business, there are several options:

  • Endorsements  – One way to insure a home business is to add endorsements to your home insurance policy. An endorsement to increase property coverage can help protect business equipment and products. If you receive clients in your home, a liability endorsement can protect you against accidental injuries that may occur when a client visits your property. Endorsements, however, won’t cover loss of income if your home is damaged in a catastrophe and your business comes to a halt while repairs are made. Neither will they cover employee injuries on the job.   
  • Business Owner’s Policy – A business owner’s policy (BOP) offers a more practical means of protecting your home business, as you have the option of obtaining liability, property damage, workers’ comp, and business interruption coverage. You can also add protection against specific risks such as mechanical or technical breakdowns, data loss, forgery, errors and omissions, etc. This broad coverage against any eventuality will give you the confidence to invest in your home business and grow it into a prospering enterprise.  

Where to Obtain a BOP Policy  

If your home business is your family’s main source of income, a BOP policy may be just what you need to protect it from financial loss. To purchase commercial coverage for your home business, contact Murvay Insurance, Newport Beach, CA. 

What Types of Water Events Can Homeowners Insurance Include?

Your home can encounter problems stemming from water for various reasons, and some of these fall outside the purview of what your homeowner’s insurance will cover. For example, Newport Beach, CA residents whose problems arise from flooding will not be included. 

A homeowners policy may contain a list of covered perils, and if your issue results from one of these, you will typically be able to make a claim. This category of insurance is referred to as named perils. If indemnification is labeled all perils, it usually extends to hazards unless they are specifically excluded. Your knowledgeable Murvay Insurance representative can provide more details. 

Very often, homeowners insurance will take care of situations that are related to burst pipes, as this will occur inside the home and is not due to a flood situation. Plumbing malfunctions can also lead to mold and mildew, and as long as these are not caused directly due to neglect, you can seek financial remedy. 

Broken windows can allow rain to pour into your property, mainly if a weather event, such as hail, causes them. Frozen ice or heavy snowfall on the roof may cause leaks when cold weather prevents thawing. 

Your appliances can sometimes cause an overflow, which can happen with air conditioning systems, dishwashers, and washing machines. Water damage can also occur due to sprinkler systems when smoke detectors are activated or from hoses needed to put out a fire. 

Murvay Insurance is Here to Help 

We specialize in providing our Newport Beach, CA clients with the insurance products needed to suit their needs. We encourage you to reach out to us today, and you can do so online, on the phone, or by stopping in to speak with us personally. 

Tips to prepare your car for a storm

The weather in Newport Beach, CA can be stormy regularly, so it’s essential to ensure your car is ready for them. Here are some tips from us at Murvay Insurance to help you prepare your car for a storm: 

1. Ensure your tires have plenty of treads and are correctly inflated. During a snowstorm, proper tire inflation and tread will help you drive more safely and efficiently on slippery roads. 

2. Check all of your lights and replace any burned-out bulbs. These will become especially important during low visibility conditions caused by a snowstorm. 

3. Top off all of the fluids in your car, like oil, antifreeze, windshield washer fluid, etc. This will help ensure your vehicle runs smoothly during the storm without hiccups due to cold temperatures or other weather-related problems. 

4. Make sure your battery is charged and in good condition so it won’t give you any trouble when you need it most during the storm. 

5. Stock up on emergency items like blankets, flashlights, flares, first aid kits, and other supplies that could come in handy in case of an emergency situation during the storm. 

By following these simple tips, you can rest assured that your car is ready for the coming winter storms! For more tips or to explore an auto policy to cover your vehicle, call us at Murvay Insurance today. We are proud to serve the Newport Beach, CA area and would be happy to help you find a policy that meets your needs and budget. So don’t delay! Call today!

How will commercial insurance protect my Newport Beach business?

The Newport Beach, CA area is a popular area to visit and live in. This can also make it a great place to start a small business. For those looking to build a business in this part of California, having insurance for it is very important. A commercial insurance plan is helpful when you want to cover and protect your business. There are a lot of benefits that come when you do get commercial insurance for your business.

Coverage for Assets

A good reason to have a commercial insurance plan is to get coverage for your assets. A business must invest in many assets to keep the company up and running. Losing these assets to theft, fire, or other forms of damage could be very detrimental to the organization. When you have the right commercial insurance plan in place, it will offer the support you need. 

Liability Insurance

A liability insurance plan is also an important part of commercial insurance policies. There is always a risk that your company can be named liable for an accident, and commercial insurance is the best way to reduce this risk. If you do get this coverage, it will provide the support that is necessary to offset this risk, which can protect the viability of your organization. 

If you own a business in the Newport Beach, CA area, it would be wise to speak with an insurance professional you can trust. When looking for a new plan in this area, it can be a great idea to call our professionals with Murvay Insurance. Our insurance team at Murvay Insurance can offer any support you need to build a new plan to protect you and your business. 

Top Tips for Finding California Homeowners Insurance

California homes have value. Talk to anyone on the street, and they’ll acknowledge the investment of California real estate. Yet, as with most things of value, the unexpected could strip that value away. That’s why homeowners need the right insurance for their California investments. Murvay Insurance of Newport Beach, CA has some tips to help you find the right coverage.

Use Online Tools to Find Insurance

The state of California wants to ensure you have adequate insurance and provides several tools to help you in your policy search. Try the Residential Insurance Company Contact List to find a directory of licensed home insurance companies, or use this to verify a leading favorite. If you need support to get your policy, check the Find an Agent or Broker tool instead. If you already have a quote, check the competitiveness of this rate using the Homeowner Premium Comparison Tool and Homeowner Coverage Comparison Tool to verify you’ve got a fair plan.

Insurance After Non-Renewal

The California Department of Insurance counsels that non-renewals have been an increasing issue for California homeowners. A non-renewal means you need to change insurance companies and policies – or risk a dangerous lapse in coverage. First, try contacting your insurer to identify any issues which may have caused this coverage lapse. Depending on the reason, you may be eligible to protest this cancellation. If you cannot renew your current policy, the California FAIR Plan offers a fallback for otherwise difficult-to-insure homeowners.

Murvay Insurance serving Newport Beach, CA is ready to help you find the right homeowners insurance. Contact us today for a quote!

Teens on the Road and Recommended Insurance Practices

Many questions arise when it’s time for teen drivers to begin hitting the road. Parents and guardians likely wonder which options best protect teen drivers on and off the road. Anyone in the Newport Beach, CA area can count on Murvay Insurance to provide the insight and recommendations necessary to get the ideal coverage.

Teen Driver Insurance 

There are two basic options for choosing insurance coverage for teen drivers. Parents and guardians can put their teen on their own insurance policy, or they can purchase a separate teen driver insurance policy. There are several points to consider based on individual circumstances when selecting. It’s essential to understand that insurance coverage changes are significant when teen drivers are added to a policy. This change occurs because teen drivers have a much higher risk factor for collisions and other events than adult drivers. This consideration is why many parents and guardians have a separate policy for teen drivers. However, other households may add a teen driver to an existing policy.

For more information and insight, individuals can contact one of our helpful and knowledgeable insurance agents for more details. They can sit down with each client to individually assess their situation to understand all the factors. Based on their assessment, they can recommend certain options for clients to consider. Once a decision is reached, agents can help secure the policy or make amendments to an existing policy. Additionally, they can also provide support if there is a claim.

Reach Out Today 

Residents of the Newport Beach, CA area can turn to Murvay Insurance to provide them with the customer support and insurance options they need to protect teen drivers. Call or stop by our office today to speak to one of our insurance agents and get started with coverage options that meet your specific situation.

What commercial insurance covers in California

Commercial insurance covers several risks associated with running a business, including liability, property damage and loss, equipment damage or breakdowns, cyber hacks and data breaches, employee injuries or illness, workers’ compensation claims, and more. Commercial insurance can also protect businesses from financial losses due to natural disasters or unexpected legal issues that could disrupt operations.

Depending on the type of business you have and the policies you choose to purchase, you may be able to get coverage for specific areas like product liability or professional services errors and omissions. Depending on your particular needs, you can add other coverages to your policy. For example, most commercial insurance policies include general liability coverage designed to protect businesses from third-party claims and lawsuits related to bodily injury or property damage, advertising injury, medical payments, and personal & advertising injury. Other types of coverage that may be included in a commercial insurance policy are business interruption, equipment breakdown, cyber liability, employment practices liability, and more.

Commercial insurance policies are tailored to meet the needs of each individual business based on their operations, customer risks, and more. Business owners need to understand all the different coverages available to ensure they have the best protection for their business. Working with an experienced independent agent or broker will help ensure that your policy is up-to-date with all the protection you need. Commercial insurance gives businesses peace of mind knowing they’re covered if an incident shuts operations down.

If you have any questions about your commercial insurance needs, call us at Murvay Insurance today. We proudly serve the Newport Beach, CA area.  

Why Every Homeowner Needs Home Insurance

Home insurance is a necessity for everyone who owns a home. No homeowner should ever be without it for even a day. If you are about to buy a home, you need to get a home policy into place right away. Whether you’re buying a home or want to change insurance agencies for your policy, you can call us at Murvay Insurance in Newport Beach, CA to get started. 

Protection for the Home

There are many types of protection that you get with a home insurance policy, and dwelling protection is one of the most important. This covers the dwelling and will pay for the repairs when a covered damaging event happens to the home. Repairs can be costly, and many homeowners would have a hard time paying for them without the help of a home policy. It can even pay for rebuilding if your home is destroyed. 

Protection for Belongings

It isn’t just the investment you’ve made in your home that you need to protect; it’s also the investment you’ve made in your belongings. With home insurance, the items inside your home are also covered by the insurance. A covered damaging event that destroys your belongings could be tough to pay for without a home policy. With a policy, it will pay for you to replace your items. 

Liability Protection

Home insurance also protects your liability in case someone gets injured in your home. This is also important because you could be responsible for high medical bills after an accident. You need this coverage for financial protection and peace of mind.

Cover Your Home

Contact us at Murvay Insurance in Newport Beach, CA when you need a home insurance policy.

Is roadside assistance part of auto insurance?

When you contact Murvay Insurance for auto insurance, you’ll get the help you need to add to your auto policy to protect you while you drive. The insurance required by the state of California only protects the other drivers on the road and their vehicles; we can customize your coverage to add items like roadside assistance.

Adding Roadside Assistance to Your Policy

When you add items like roadside assistance, comprehensive, and collision coverage to your auto insurance, your policy will protect your vehicle and others on the road. In this case, roadside assistance coverage means your insurance coverage includes payment for a tow truck to assist you wherever your vehicle breaks down – whether you’re in Newport Beach, CA, or driving up the coast to Oregon. The coverage costs little and adds to the safety provided by your insurance policy.

What Kinds of Things Does Roadside Assistance Provide?

If you run out of gas while driving, you phone the toll-free number for the roadside assistance dispatcher, and a tow truck delivers a gallon of gas to you so you can make it to the gas station. Other common covered scenarios include roadside help changing a tire or a tow truck to haul your vehicle to a garage in cases of an accident or a flat that did axel damage. If you lock yourself out of your car, call the toll-free number, and dispatch sends a locksmith.

Contact Murvay Insurance

Contact Murvay Insurance for more information on adding roadside assistance to your auto insurance. You can add this helpful coverage to any auto policy.

What kind of commercial insurance do you need?

More than 20 commercial policy types exist. Which do you need?

At Murvay Insurance, we offer a wide array of commercial insurance to help you protect your Newport Beach, CA business. Commercial insurance sounds misleadingly like a single policy when it refers to a category of policies. More than 20 types of small businesses exist, but your business won’t require every kind of policy.

  • Business owner’s policy (BOP): nearly every business acquires this bundle of four common policies that costs less than the policies would separately.
  • Business interruption: reimburses a business’ lost income when a named peril causes temporary closure.
  • Commercial auto: the business version of auto insurance.
  • Builder’s risk/Construction: used when you need to renovate or remodel an existing business structure or construct a new one.
  • Crime policy: protection from loss due to burglary, theft, or robbery.
  • Debris removal: covers debris removal costs post-peril.
  • Directors’ & officers’ liability: covers a business’ legal costs and settlement if a party sues the board of directors or C-level officers.
  • Boiler & Machinery/Equipment Breakdown: covers equipment repair or replacement and the losses from business interruption.
  • Errors & omissions (E & O): covers court costs and settlements arising from mistakes in product manufacturing.
  • Glass: replaces plate glass and broken windows.
  • Inland Marine: protects third-party items transported by your business.
  • Liability: covers court costs and lawsuits from those injured at your business.
  • Malpractice/Professional Liability: covers court costs and lawsuits when an individual incurs an injury because a medical professional does not meet the "proper standard of care."
  • Law/Ordinance: covers the cost of a company to reconstruct a damaged property to meet building code standards after a peril caused irreparable damage.
  • Property insurance: pays for real property damage by a named peril.
  • Tenant’s insurance: pays for building repair when the leasee made building improvements, but the landlord’s employees damaged it.
  • Workers’ compensation: every state requires this medical insurance that protects employees when injured on the job.

Contact Murvay Insurance serving Newport Beach, CA to purchase the commercial insurance you need to protect your California business.