3 Main Types of Auto Insurance Coverage

When it comes to automobile insurance, there’s a great deal to figure out. Whether you just want a basic auto policy or some of the additional coverage, it’s a good idea to know what the different types are first.

Liability Insurance

This is the minimum of what you’d need as a legally-insured driver. It protects the driver in the event he or she is responsible for an accident, or if the driver is held responsible for some reason. The coverage is for medical expenses, lost wages, damages to the other party’s vehicle, and consequences of any injuries that occurred.

Comprehensive

Having comprehensive coverage means that you’ll be able to replace your vehicle if it’s damaged by natural disasters or if it gets stolen. It’s known as "other than collision" in some states. This optional type of coverage may be important if there’s a higher risk of damage or theft (outside of your control) where you live. Talk to a reputable insurance agent like those at Murvay Insurance of the Newport Beach, CA area to determine if comprehensive would be ideal for you.

Collision

This policy type covers any repairs that need to be done on your vehicle in the instance there’s a traffic accident, regardless of who’s at fault. Collision insurance also covers property damage, as well as damage to your automobile if you have an impact on buildings, trees, or anything else basically. A replacement vehicle may be available to you if your car or truck is deemed to be "totaled" by your insurance provider. Typically, it would have to be a vehicle that is at the same or lower market value than your current one.

Contact the agents at Murvay Insurance, serving Newport Beach, CA and beyond, with your questions about auto insurance. We’ll assist you in creating the best policy to fit your unique situation in California.

 

 

Should You Get Commercial Insurance for Your Home Business?

A home business needs insurance protection just as much as any other business. Your home or renter’s insurance, however, isn’t designed to cover your home business needs. At Murvay Insurance in Newport Beach, CA, we offer customized commercial insurance coverage for home-based businesses, enabling you to get the exact protection you need. What type of insurance protection does your home business need?

  • Commercial Property – If your business requires the use of business equipment like a computer, printer or fax machine for daily operations, property insurance will protect these items against theft or damage due to fire, vandalism or other disasters. Your homeowner’s insurance protects your personal goods, not business property. With commercial property protection, you can invest in your business without worrying about financial loss.    
  • Liability – If you host business clients in your home, you could be held liable for accidental injuries or property damage they may sustain while on your property. Your home insurance won’t cover liability claims related to your home business. Commercial liability covers business-related liability claims and protects you against lawsuits if a client decides to sue for damages.   

If you offer professional services such as business accounting or financial consulting from your home, professional liability coverage can protect you against claims of negligence in the services you provide. 

If your home-based business involves production or distribution of products, product liability can protect you against injuries or property damage a faulty product may cause to a customer or seller.

  • Commercial Auto – If you use your personal vehicle for delivering products or visiting clients, you’ll need commercial auto insurance to protect your business against accidents that may occur during working hours.

To learn more about home-based commercial business coverage for your Newport Beach, CA enterprise, contact your Murvay Insurance agent today.

Do I need to have home insurance in California?

The Newport Beach, CA area is a beautiful part of the country and also a great place to buy a home. If you are going to purchase a home in this part of the country, you will want to make sure that you are properly protecting it with home insurance. There are several reasons why you will need to have home insurance in California. 

Required by Lender 

One reason why you need to have home insurance is that it could be required by your home lender. If you have a mortgage, there is a good chance that your lender is going to require that you carry home insurance at all times. To ensure that your property continues to be properly covered at all times, many lenders will also require that you escrow your home insurance payments each month with your mortgage payment.

Association Rules

Many people in the Newport Beach area are also subject to a variety of home association agreements. These agreements often require that you have home insurance and provide evidence of it each year. The associations want you to have insurance as it will ensure you have liability coverage if you or your property causes damage to another and that you can rebuild your home if it is damaged by a fire or bad weather. 

If you are going to buy a home in Newport Beach, CA, you need to have good home insurance in place at all times. One company that can help you to do this is Murvay Insurance. When you work with the team at Murvay Insurance, you can learn a lot more about all of the home insurance options that you have. This will help you to choose the right policy for your situation and needs. 

What is the state minimum for auto insurance in California?

California requires all drivers to show proof of insurance when operating a vehicle on the highway or in the city. Is your coverage enough to meet the state’s liability requirements? The agents at Murvay Insurance can help you find the right auto insurance plan that covers you financially while also keeping you in compliance with state law. 

What is the state minimum for car insurance?

The state of California requires all drivers to show proof of liability coverage that includes at least $15,000 per person, or $30,000 per incident, for bodily injury. Drivers must also have property damage coverage that equates to at least $5,000 in coverage. California is unique in its auto insurance requirements by mandating drivers to carry uninsured/underinsured motorist coverage that is no less than $15,000 per person, or $30,000 per incident, per accident. 

The minimum policy limits as required by the state will keep you in compliance with the law. Such stipulations do not prevent a lawsuit in the instance that you cause damage in an accident that exceeds your policy’s limits. Such is the reason why you may want to purchase more insurance in Newport Beach, CA.

How much car insurance do you need?

Your policy limits should depend on a number of factors. First, you want car insurance that pays to have your vehicle replaced in the instance that it is destroyed in an accident. An indemnity plan that is not enough for you to recover is probably not enough for the next person to get back on his or her feet if you cause an accident that leads to significant losses. 

You also want to consider an insurance policy that offers legal representation in the instance that your case goes to court. The best insurance plans in Newport Beach, CA provide drivers with a strong legal team that works to ensure equality in lawsuits. 

The agents at Murvay Insurance are in the business of finding the best auto insurance plans for California residents. Call today to get started with a quote for coverage!

3 Tips for Buying Commercial Insurance in Newport Beach CA

Newport Beach, CA is a great place to live and work. If you own a business in this area, it’s imperative to have the right commercial insurance policy whether you’re just starting out or have been in business for years or decades. Each year, it is important to update your commercial insurance as your business grows or reduces in size. This is also the perfect time to reconsider your current policy altogether and see if you can save money in the process. Read on to learn about three ways you can save money on your commercial insurance.

1. Work with a Reputable Agent

The purpose of commercial insurance is to protect your business, employees, and customers. Considering the necessary function of this policy, you’ll want to be sure you understand the coverage, rather than being left with any negative surprises down the road. For this reason, it’s important to work with a reputable agent from Murvay Insurance to help you navigate through the different policies and find the one that offers everything you need for your unique business.

2. Compare Several Quotes

Not all commercial insurance policies are the same. They cover different things and cost different amounts. That’s why it’s so important to compare several quotes before making a decision. Furthermore, don’t be hasty in your decision. Take your time, ask questions, get clarification and when you feel ready, then make your decision.

3. Bundle Your Policies

To save money on your premiums (and what business doesn’t LOVE to save money?) consider bundling all of your insurance policies under one carrier. 

To learn more about commercial insurance and getting the best policy for your business, contact the team at Murvay Insurance, serving the Newport Beach, CA area today. 

5 Ways to Prepare Your Home for Fall

With summer coming to an end, you may be contemplating ways to prepare your home for fall. By starting early, you can be fully prepared before the onset of fall and winter holidays. Here are a few ideas to help you get started from Murvay Insurance in Newport Beach, CA.

Clean Your Gutters

The end of summer is a good time to clean your home’s gutters in preparation for rainy weather in fall. Clogged drains and gutters can pose the risk of water leaking into your home and causing water damage. At the same time, you can check for gutter damage and make necessary repairs.

Declutter Your Home

With the kids back in school, you’re bound to have more traffic in and out of your home. Clutter in hallways and stairs can lead to accidents. By preparing a place to store school bags, sports equipment, and other items, you can make your Newport Beach CA home a safer (and prettier) environment.

Upgrade Lighting (Inside and Out)

There’s less daylight during fall and winter, making it important to have sufficient lighting in your home to avoid accidents. Indoor energy-efficient lights will brighten your environment without raising energy costs. Outdoor motion detection lights will safeguard visitors during evening events and provide extra security for your family.

Put a Fresh Coat of Paint on Walls

Give your interior a new look with a fresh coat of paint on the walls. Painting your walls will create an attractive, welcoming setting for guests as they visit for the holidays.

Contact Your Murvay Insurance Agent to Update your Policy  

Review your home insurance policy to ensure you have adequate coverage for the holidays. Adequate coverage will protect your assets in the event of disaster or accidents.

For customized home insurance to protect your investments, contact Murvay Insurance in Newport Beach, CA.

Does Auto Insurance Cover the Damage to Personal Property in a Wreck?

Everyone carries personal possessions in their car and odds are you have a thing or two in your car right now that you may not necessarily need with you. That said, what happens if you are in an accident and these items are destroyed? For those looking for insurance coverage in the Newport Beach, CA area, the agents with Murvay Insurance can help you find a policy that is going to work best for you.

In regards to those personal effects that you have been carting around in your car, your insurance does cover them but not each item specifically. You do get some money in terms of liability settlement when you have an accident with which you can replace the items that were damaged or destroyed. If you have items that are very expensive, you should have coverage on them specifically to help make sure that they are going to be safe if you do have an accident. Items like very expensive electronics, expensive jewelry, and other items that are going to cost a great deal to replace will be best covered if you have a separate policy just for them.

You can get a bigger payout in some cases if you do prove to your insurance agency that the item was destroyed as a direct result of the wreck and the damage that it caused. Your personal property is something that you should be thinking about protecting each day so you can be sure that no matter what, you are going to be able to recover if your things are destroyed. You can always speak with an agent like those at Murvay Insurance in the Newport Beach, CA area to find out just what your policy covers and what additional coverage you may need.  

Does Auto Insurance Cover the Damage to Personal Property in a Wreck?

Everyone carries personal possessions in their car and odds are you have a thing or two in your car right now that you may not necessarily need with you. That said, what happens if you are in an accident and these items are destroyed? For those looking for insurance coverage in the Newport Beach, CA area, the agents with Murvay Insurance can help you find a policy that is going to work best for you.

In regards to those personal effects that you have been carting around in your car, your insurance does cover them but not each item specifically. You do get some money in terms of liability settlement when you have an accident with which you can replace the items that were damaged or destroyed. If you have items that are very expensive, you should have coverage on them specifically to help make sure that they are going to be safe if you do have an accident. Items like very expensive electronics, expensive jewelry, and other items that are going to cost a great deal to replace will be best covered if you have a separate policy just for them.

You can get a bigger payout in some cases if you do prove to your insurance agency that the item was destroyed as a direct result of the wreck and the damage that it caused. Your personal property is something that you should be thinking about protecting each day so you can be sure that no matter what, you are going to be able to recover if your things are destroyed. You can always speak with an agent like those at Murvay Insurance in the Newport Beach, CA area to find out just what your policy covers and what additional coverage you may need.  

How Newport Beach Businesses Can Protect Themselves with Commercial Insurance

Owning a business in the Newport Beach, CA area can be a great option as the local economy continues to be very strong and there is a lot of consumer demand. While a business can do very well in this area, there are also many risks that a business faces on a daily basis. One way that some of these risks can be properly managed and mitigated is by getting a quality commercial insurance policy. Commercial insurance can protect a business a number of ways.

Provide Liability Protection

Any business is taking on some liability risk whenever they meet with a customer or provide a service. Due to this risk, it is important that you find ways to manage liability. One of the best ways that a business owner can do this today is by getting a liability insurance policy. This will provide you with very valuable liability protection for a variety of situations.

Protect Assets

A business owner will have to invest a lot of money in a variety of business assets. One of the best ways that this investment can be protected is through a commercial insurance policy. This type of insurance will provide protection for the covered assets in the event of a fire, storm damage, theft, or other potential losses. 

If you are an owner or manager for a business in the Newport Beach, CA area, it is very important that you ensure that you are properly taken care of. When you are evaluating your insurance needs, you should speak with the professionals at Murvay Insurance. The team at Murvay Insurance knows all of the unique risks that businesses deal with on a daily basis. They can then help you to mitigate these risks with a quality commercial insurance policy.  

Insuring Your Summer Home In Newport Beach, CA

You know the importance of homeowners insurance on your primary residence, but things can get a little bit tricky when you own multiple properties. Insuring your summer home is important, and it can make sense to take out an even more protective insurance policy on your home away from home. At Murvay Insurance, serving Newport Beach, CA, we understand the importance of insurance on your second home.

First, think about location. Many summer homes are in areas that are more prone to weather-related damage than primary residences. Is your vacation home located near a beach, or in a mountain area known for severe weather? If so, you may want to purchase additional protection to keep your home safe in case of weather damage. 

Second, are you going to rent out your home to others? If so, you may want to take extra precautions when it comes to your insurance policy. You vet the people staying in your home, of course, but it’s hard to know exactly what will happen when you aren’t there. Amping up your insurance policy is smart if you use a service like VBRO or AirBnB to rent out your home, especially if you depend on the income you earn from renting. 

Lastly, do you have a pool or a hot tub attached or adjacent to your home? If so, it’s important that your policy covers personal injury and damages related to these structures. Your agent can talk to you about the type of coverage that makes the most sense for your pool or hot tub. 

Whether your second home is on the beach or a part of a ski resort, it’s important that you talk with an insurance agent who gets your needs. Stop into Murvay Insurance, serving Newport Beach, CA today- we’ll help you find the policy that makes sense for you.