Home Insurance Do’s and Dont’s

Protecting your home means more than just installing a security system and locking up at night. A solid home insurance policy is one of the best ways to protect the investment you have made. At Murvay Insurance, serving Newport Beach, CA, we can help you better understand this vital type of coverage. Keep reading to learn about some home insurance do’s and don’ts that you should be aware of. 

Do Compare Rates

It would be best if you spent some time comparing the rates of different companies. This will be an essential long-term expense that you will invest in. You will want to make sure you are getting the best deal. 

Don’t Settle For General Coverage Amounts.

When you are ready to purchase a home insurance policy, you should know that there are both generic and customized coverage amounts. A general coverage amount will include a benefit amount that would equal the expense of repairing or replacing your home should it be lost or damaged. However, this amount of coverage will not consider the value of your personal belongings or anything of value on the property.

You will want to sit down with an insurance agent to get customized coverage. This professional can help you calculate the value of the belongings and upgrades that may have been done to the home.

Do Install Security 

Installing a security system could help you save on home insurance costs. The more you make sure your home is safe, the less of a risk you are to the insurance company. 

Don’t Let Insurance Lapse.

It is imperative that you always make payments on time to not experience a lapse in coverage. 

If you would like to learn more about our services, don’t hesitate to contact us at Murvay Insurance, serving Newport Beach, CA, and the surrounding areas. 

Do I Need Insurance Before Buying A New Car?

In the state of California, you are required to have proof of insurance whenever you operate your vehicle. Acceptable forms of proof include a physical insurance card or a digital copy on your mobile phone. You should be able to produce proof of coverage on the spot anytime it is required by a law enforcement officer or when an accident occurs.

California’s Car Insurance Grace Period

California has a new car insurance grace period of 30 days, so you will not be required to provide proof of insurance as soon as you leave the car lot. This means that you have 30 days from the date of purchase to obtain auto insurance coverage for your new car and provide it to the state DMV. If your previous vehicle was covered under an existing policy, the grace period is extended to 45 days for coverage on your new car. The professionals at Murvay Insurance of Newport Beach CA are available for any questions you have regarding the California car insurance grace period.

Getting Car Insurance Before Buying A Car

However, it is important to note that you are not protected in the event of an accident during the grace period. If you are involved in an automobile accident during the grace period and you do not have insurance coverage, you may be held personally liable for any related costs to that accident. Therefore, you may want to consider buying insurance before you purchase your new car.

Purchasing car insurance before you buy a new car is just as simple as picking out your new car. All you have to do is contact an insurance company and pay for the new policy.

While you may be in a hurry, it is not in your best interest to make a spur-of-the-moment purchase. Obtaining the right coverage requires careful planning and comparison shopping. When you are ready to find the coverage you need, contact Murvay Insurance of Newport Beach, CA for more information.

Commercial Insurance To Consider When Starting A Business

If you are thinking about starting a business, one of your top priorities is to purchase the commercial insurance that you need to protect your assets. Today, it seems like new businesses are popping up everywhere. People are discovering untapped markets, profiting from their talents, skills, and knowledge on every level.

As a new business owner, there are several things to consider before you open your doors. One of those is decided on the types and amounts of commercial insurance you need in Newport Beach, CA. Fortunately, you do not have to embark on this journey alone. The professionals at Murvay Insurance are here to guide you through the entire process.

Why You Need Commercial Insurance

As a business owner, you have personal and business assets that you need to protect, such as your savings and your property. For some businesses, to obtain proper licensing to conduct business legally, you will need specific coverage in place. You must learn about all of these requirements before announcing that you are open for business.

Additionally, commercial insurance can help with covering the expenses relating to any property damage or lawsuits that you may face. When you own your own business, you are financially responsible for all accidents and mishaps, including attorney fees, settlements, court costs, and replacement or repair costs.

Types of Commercial Insurance to Consider

There are five main types of commercial insurance that you will want to focus on when starting a business, including:

  • Business owner’s policy
  • Professional liability insurance
  • Cyber liability insurance
  • Commercial auto insurance, if you or your employees use automobiles to perform work duties
  • Workers’ compensation, if you have employees

If you are starting a business in the Newport Beach, CA area and have questions about the type of insurance coverage you need, contact the experts at Murvay Insurance. Call today.

California Home Insurance – What You Need To Know About Home Insurance

California is a beautiful place to live with picturesque beaches and sunny weather almost year-round.  Armed with this information, home insurance would most likely be the last thing on your mind.  Who needs it?  It never rains here!  What could possibly happen to the house?  These questions and more are normal for those debating whether to get home insurance or not.  One thing to keep in mind, it doesn’t matter where you live in the world, there is always a calamity that could happen to your home.  Murvay Insurance in Newport Beach, CA offers many options for home insurance and other insurance needs.

California may seem like the perfect locale to own a home with minimal rain and storms and warm weather year-round in the southern half.  However, there are catastrophic events that are unique to California and the two biggest are earthquakes and landslides or mudslides.  Many times, these two go hand-in-hand when powerful earthquakes strike and mudslides follow afterward.  Florida has a somewhat similar climate, albeit with a tropical slant to it, but even Florida is not without issues of its own with the threat of tropical storms and hurricanes.  The overall point to this is that there is no “perfect” place in the world to live in without the threat of damage to your home from an event.

Home Insurance

Home Insurance can cover catastrophic events from storm damage to floods to mudslides and earthquakes.  You may need to possibly add earthquake, mudslide, and flood coverage to your home insurance policy on a rider during your initial sign up for home insurance.  Having coverage against these possible outcomes is the best peace of mind that you can buy.

More Information

You can find out more about home insurance by contacting Murvay Insurance in Newport Beach, CA today!

Threats of Not Having Auto Insurance

If you are a driver you should understand how important auto insurance is. Driving without proper auto insurance is not only dangerous, but it is also illegal and in most states, including California, is considered a crime. Therefore, it is important to purchase a proper auto insurance policy before hitting the road in your car. Murvay Insurance serving clients in Newport Beach, CA and other surrounding towns prepared a list of threats of not having auto insurance. 

Threats of Not Having Car Insurance You Should Know About

Here is a list of risks you take when you decide to drive without auto insurance:

  • Suspension or removal of your driver’s license. If the police catch you driving without car insurance, your driver’s license may be suspended. As a result, you will not be able to drive, which makes it one of the most unwanted risks. 
  • You will have to pay for all the damages yourself in case of an accident. One of the purposes of auto insurance is to help a policyholder cover the expenses related to a car accident. However, if you do not have auto insurance, you will have to pay for everything yourself. 
  • You may face high-risk insurance rates in the future. If you were caught driving without auto insurance, it may be much more expensive for you to buy car insurance in the future. 

If you live in Newport Beach, CA and you are looking for an insurance agency you can trust in order to buy an auto insurance policy, Murvay Insurance is exactly what you need. We specialize in all types of insurance and have years of experience. Do not hesitate to call us if you have any questions or thinking of getting a car insurance policy. 

Commercial Insurance & Employee Protection

Commercial insurance is an important component involved in running any kind of business. When you have the right insurance, you protect not only yourself but also your employees.

Are you unsure about your commercial insurance needs? Murvay Insurance, which serves Newport Beach, CA, can help you determine ways you can protect your employees.

Commercial Insurance Provides Business Coverage

When you operate a business, you may rely on commercial insurance to protect your company if there is a major disaster or you have some sort of liability for an injury. If you have employees at your business, your coverage does extend to them in some ways as well.

For example, if you have commercial coverage for your company’s cars, any employee driving them may be covered by your policy if they are involved in an accident. Your employees may not be held responsible separately, and your personal assets are not at risk either.

Your Plan May Include Health Insurance

Many commercial insurance plans also provide health coverage. You can add commercial health to your plan to provide for medical expenses and disability claims by your employees. If you are a small business, you can work with an insurance agent to determine what kind of coverage your state requires or recommends.

Your Plan May Include Workers Comp

Any business owner has concerns about what happens when an employee becomes injured or ill at work. With a commercial insurance plan, you may be able to secure workers comp insurance, which protects you if an employee is injured, ill, or disabled because of an incident that occurs at work. You are protected from financial loss, and your employee is protected too.

Get an Insurance Quote

Are you unsure how to provide the most commercial and employee protection? There are many ways to protect everybody involved. Contact Murvay Insurance if you are in Newport Beach, CA to learn more.

Home Insurance Facts Every Homeowner Should Know

If you have acquired a new home in Newport Beach, CA, home insurance is the next best investment to consider. While home insurance isn’t required by law, it can save you enormous losses when the unexpected occurs. 

Unfortunately, understanding home insurance can be challenging, especially for new homeowners. Thankfully, you don’t have to scratch your head trying to figure out where to start. Murvay Insurance is here to share basic facts that you must know about your home insurance plan.

Know what it covers

Do you understand what your home insurance covers? It’s very crucial to know what you are paying for. This way, your claim process becomes seamless when a covered peril strikes. Typically, your home insurance covers your property and its contents. Besides, it provides liability and loss of use coverage. However, check your policy document to see what is covered by your policy.

Know home insurance exclusions

Just like it’s crucial to know what home insurance covers, it’s equally vital to understand what it excludes. This information enables you to know what endorsements you can purchase to boost your policy. Generally, typical home insurance excludes damage from floods, earth movement, intentional acts, government actions, war, pest and mold infestation. 

However, the list is just a guide. For extensive information, refer to your policy document. 

Take inventory of your assets

You may assume that you don’t own valuable belongings, but you may be surprised after an inventory count. Go from room to room, basement, attic, and closets to take stock of everything you own. An inventory count is pivotal when insuring your contents and when filing a claim. 

Consider endorsements

If your home insurance doesn’t cover specific risks that could be troublesome to you, consider “riders” or “floaters” to boost your policy. For instance, you must add a flood insurance policy to your home insurance coverage if you live in a flood-risk area.

Still want to learn more about home insurance? Would you please get in touch with Murvay Insurance? Else, you can visit our Newport Beach, CA offices to chat with one of our agents.

Making Sense of Auto Insurance Deductibles

Buying an insurance policy means understanding the ins and outs of everything included. Understanding an insurance policy means asking questions and learning everything possible about your coverage from your Newport Beach, CA insurance agent. If you are unsure of something in the policy, including what the term deductible means in your auto insurance, do not hesitate to reach out and ask the experts at Murvay Insurance for additional information. 

What Is an Auto Insurance Deductible? 

When referring to your auto insurance, a deductible is the amount of money deducted from any car repairs resulting from an accident or other collision that your insurance company pays. Essentially, this is the amount you must pay out of pocket for repairs and replacement. Auto insurance deductibles are generally $500 or more, depending on the coverage options you select when buying your policy. 

How Do Auto Insurance Deductibles Work? 

Deductibles for auto insurance are different from deductibles used for health insurance. Each claim is treated independently with car insurance, and you must pay the deductible amount out of pocket for each claim. 

Here is an example. If your deductible is $500, and you were in an accident with car repairs totaling $2000, then your out-of-pocket costs are $500, and your insurance company pays the remaining $1500 to your Newport Beach, CA repair shop. In the event the damage is not greater than the deductible amount, then you’re responsible for paying 100 percent of the costs. 

How Do I Select the Right Deductible? 

Figuring out how much your deductible should depend on your circumstances. It all depends on what you can afford. Selecting a higher deductible to save money on premiums only makes sense if you can afford to pay the deductible in the event of an accident. For example, if you have a $1000 deductible and get into an accident, the money you saved on your premiums no longer matters if you cannot pay it because you may have to take out a loan or use a high-interest credit card to pay your out-of-pocket costs. 

Call the experts at Murvay Insurance to discuss auto insurance coverage options and which deductible is best for you. 

Benefits of Having Commercial Insurance

The essence of seeking insurance coverage is effective protection from unforeseen incidences. Commercial insurance is among the options that guarantee protection against various liability claims. Having a protection umbrella under commercial insurance is relevant to your liability claims and also comes with other benefits. As Murvay Insurance in Newport Beach, CA, we have broken down commercial insurance benefits for your understanding.

Capital for Business Growth

The most practical way to operate and grow a business is through the utilization of significant capital resources. The funding and financial support the business receives determines how far it will go. Through commercial insurance, the focus is on protecting the business from unforeseen incidences and offering a financing option relevant to its growth.

Less Uncertainty

It is practically impossible for any business in Newport Beach CA, to predict the number of property or liability losses and prepare well for the outcome. It is also difficult, especially for startup businesses, to create a long-term business plan to handle cases such as a property fire. This is, however, different when there is commercial insurance, as you can take the volatility of risk from the equation.

Attract Potential Investors

Any business that has commercial insurance is attractive to investors. The availability of a risk management program in a business is what attracts most investors. Through commercial insurance, there is reassurance, and investors find it important to back up your workmanship with the support you need.

Employee Protection

Employees are among the most valuable assets in any business. Despite the business plans and objectives, a company that lacks the right skills possessed by its employees is bound to struggle. Commercial insurance helps a company protect this skill set. In the long run, there is higher performance and increased productivity.

It’s the law

Commercial insurance included, most states require businesses with employees to provide specific types of coverage policies to warrant their operations. When you fail to consider these regulations, the results could be legal sanctions and criminal penalties that can affect the business.

If you are interested in learning more about commercial insurance, reach out to us at Murvay Insurance today.

Things home insurance won’t cover

Your home insurance is a lifesaver. It protects you against many perils, ranging from theft, fire, vandalism, riots to numerous natural calamities. However, as you rest easy knowing that you will file a claim for every catastrophe, there are perils that your typical home insurance policy won’t cover. Therefore, just as important it is to know what your home insurance covers, it’s equally paramount to know what’s not covered. This way, you won’t be in for a surprise when filing a claim. 

To that end, Murvay Insurance of Newport Beach, CA, shares problems that your home insurance doesn’t cover. 

Certain natural disasters

One of the biggest blunders you can make is assuming that your home insurance protects you against all natural disasters. For example, while your home insurance will cover you against hail, lightning, and other natural disasters, typical home insurance doesn’t cover flood and earthquake damage. 

With this in mind, if you live in locations where earthquakes and floods are frequent, you need stand-alone coverages to protect your home. 

Water damage: It’s tricky here

Water from floods isn’t the only headache you have to deal with. While home insurance covers your home against water damage from busted pipes and leaking roofs, some types of water damage are typically excluded.

For instance, if heavy storms, debris, and malfunctioning sump guards cause water backups through sewers, any damage arising from water damage isn’t covered by your typical home insurance. 

Neglect

Home insurance expects you to maintain your home properly. As such, any neglect won’t be covered. For instance, if you fail to turn your heat on and a pipe bursts due to freezing, your claim could be denied. 

Normal wear and tear

Home insurance safeguards you against accidental problems such as a tree falling on your house or an electrical mishap that causes fire. However, home insurance won’t cover deterioration of your home resulting from regular wear and tear.

Are you looking for more information on home insurance? Please contact Murvay Insurance. Besides, you can visit our Newport Beach, CA offices to speak to one of our agents.