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Why you need commercial insurance for your home business

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Home businesses have become increasingly popular. About 50% of small businesses in the United States are classified as home businesses. Having your business in your home is both cost-effective and convenient. However, when it comes to insurance, you should check with your insurance agent. How your carrier views home businesses may surprise you. At Bogden Insurance Agency in Berlin, CT, we are here to answer those important insurance questions you may have about your home business. 

Property insurance

You have property insurance on your home to protect both the building and your contents. Depending on the type of home business that you have, you may have more than just a few pieces of office equipment to protect from loss or damage. Home insurance may cover your office and a limited amount for things like a desk or a copier, but if you have records and inventory that you store at home, you could find that your home insurance is not going to give you the amount of protection you need. 

Liability insurance

Home insurance offers you protection from legal action taken against you by someone who is injured by you or a family member. As a business owner, you are even more vulnerable to getting sued by a client or a vendor. If someone is visiting you at your home on business, you may find out your home insurance does not cover these injuries. They are also likely not to cover a dissatisfied customer who sues you. 

Auto insurance

When you use your personal vehicle for business, your auto insurance may opt not to cover you. You should talk to your insurance agent about commercial auto insurance. 

If you have or are considering having a home business, talk to Bogden Insurance Agency in Berlin, CT about the best way to make sure you have insurance coverage. 

How Much Coverage Do I Need to Carry to Protect My Home?

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When it comes to protecting your home, you can’t have too much coverage, or can you? Many people think that, adding coverage amounts that far exceed the value of your home, will allow you to have a bigger cash out if something happens to your home. But actually, that is not true.

Insurance laws do not allow people to collect insurance claim payouts for more than the home is actually worth. Therefore, it is wise to stay within the limits of the value of your home if you sold it today and not to exceed that. That being said, there are instances when you need extra insurance for certain circumstances such as floods or complete loss of the home that would require you to exceed the base value.

How much is enough? That depends on the actual value of your home, plus the amount you have invested in it if it is not included in the potential sales price. Of course, there are many other factors to take into account. That’s when you need an expert.

Who Can You Trust?

Bogden Insurance Agency serves the Berlin CT area and they are experienced at advising people on how much insurance to get to make sure your home is covered, no matter what disaster comes your way. They can also advise homeowners on other types of insurance such as flood, fire, and auto insurance.

Protecting your investment is their primary goal and they treat every customer like family!

They can share information with you about the appropriate amount of insurance, as well as the types of insurance coverage you need to be sure your home is protected, no matter what comes your way in the future. 

See Bogden Insurance Agency if you’re looking for homeowner’s insurance in the Berlin, CT area. They can help you prepare for anything!

Debunking Renters’ Insurance Myths in Connecticut

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When you are a renter in Connecticut, you have valuables and risks as well as any homeowner does. The solution for that is renters’ insurance. Yet many renters in Connecticut don’t get insurance because they convince themselves that it’s not worth the bother.

At Bogden Insurance Agency, we want renters in Berlin, CT to feel secure about their home and their belongings, like anybody else would. We can help you debunk those myths and help you to feel more informed about what your renters’ insurance would really cover.

You Have Valuables

Just because you don’t own your home or have a mortgage, doesn’t mean that you don’t have contents worthy of insurance protection. You have valuables. If you have a phone and a laptop, you have contents that would financially impair you if they were damaged or stolen.

Your furniture has a value as well, even if you don’t think it’s worth anything. These valuables are worthy of renters’ insurance.

You Can Cover Problems at Home

You might be able to cover damages at home if a problem crops up, but why do that if you don’t have to. That is what insurance is for. If there is a liability in your home, such as an accident or injury to someone else, your renters’ insurance will pay for that.

At the same time, if you lose or damage belongings when you are not at home, your renters’ insurance will cover that as well. If you are traveling for example, and your laptop gets stolen, renters’ insurance will cover that.

It’s Too Expensive

It really isn’t. You will complain more about your food bill than you will your insurance bill on this one. It will never hurt for you to crunch the numbers here. Renters’ insurance will always be less expensive than a new laptop or medical payments for an accident in your home.

Get a Quote

At Bogden Insurance Agency, we know that when you are a renter in Berlin, CT, your valuables are valuable. So is your income. You can’t risk a big medical claim any more than the average homeowner can. Call us for a quote for renters’ insurance today.

Covering Liability With Umbrella Insurance

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Liability coverage is one of the most important types of coverage. You could find yourself liable for an accident or other incident that ends up injuring someone or damaging their property. Without adequate liability coverage, you would have to pay all of those bills by yourself. If you are interested in getting more liability coverage, call us today at Bogden Insurance Agency in Berlin, CT. 

Adding to Your Liability Insurance

Auto and home insurance policies usually come with some coverage for liability. In auto insurance, it is usually mandated by the state that you must have a certain minimum amount of liability coverage. However, many people only get this minimum amount of liability coverage, and they have just a small amount on their home insurance as well. An umbrella insurance policy adds to the liability coverage of both of these policies. It adds a layer of liability protection right on top of the other policies to make it far less likely that you would have an overage to pay. 

Umbrella Policies

When an accident does occur, the home or auto insurance, whichever covers it, will go to work to pay for the incoming bills from your liability. When this insurance reaches its max and won’t pay anymore, your umbrella policy swoops in to pay the overage up to a much higher maximum. This allows you to be financially saved from going bankrupt to pay the high bills coming in. It can save your future financial life and keep you in a much better position. 

Get Your Umbrella Policy

If you don’t have much in the way of liability coverage, it’s time to change that. Call us at Bogden Insurance Agency in Berlin, CT to talk to an agent about umbrella coverage. 

How are home and condo insurance different

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The cost of living in Connecticut is one of the highest in the country. It isn’t easy to break into the housing market. A condo is one way to buy your own place without having to break the bank. Whether you are a first-time buyer or a retiree, condos are a popular choice to get a place of your own. At Bogden Insurance Agency in Berlin, CT, we have been offering friendly service since 2008. As an independent agency, we can offer more choices and better options. 

As a condo owner, you may wonder what kind of insurance you are required to have. If you have a mortgage, your lender will require the same type of insurance a homeowner must buy. If you own your unit outright, you need to check your condo covenant. Chances are, you are required to have insurance to protect the other owners in the association. 

The homeowners’ association will have insurance covering common areas and the exterior of the building. With home insurance, you are responsible for the exterior of your own home; with a condo, you are usually responsible for everything inside the interior walls. This usually includes plumbing and electrical. This is the main difference between condo insurance and home insurance. 

The condo association has liability insurance for common areas, places like the pool, elevator, and parking lot when it comes to liability coverage. Home insurance provides inside and outside liability coverage. 

Both home insurance and condo insurance offer content coverage. This can be either actual value or replacement cost, depending on what works best for your own items. Both policies most likely offer loss of use coverage, allowing you to find a place to stay when your home is uninhabitable. 

Contact Bogden Insurance Agency in Berlin, CT for any insurance needs you have. 

Why is liability an important coverage for all drivers in Connecticut?

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Most primary insurance policies come with limited liability like home, boat, and auto insurance.  So, what’s so important about liability in Berlin, CT. Society today has become more litigious than ever before. You can be found guilty of just about anything. Liability is even more critical when you own a car because it shields you from financial loss when you cause an accident. Here are a few reasons why liability is important coverage for every driver.

The Connecticut law requires it

All Connecticut drivers must carry a minimum liability of bodily injury liability and property damage liability, and uninsured/underinsured motorist coverage. Both bodily and property damage ensure that you’re financially responsible for any damage or injury you cause to other motorists.

Protects you against lawsuits

The main reason to buy enough liability is to ensure that your premiums can pay legal fees in case you’re sued for a car accident that led to serious injury to another person. Bogden Insurance Agency recommends speaking to your insurance advisor to determine how much liability is enough for you.

Protects against injuries

Most accidents are associated with injuries, some of which can be severe. When you cause an accident that injures another or other people, you will be held accountable for their injuries. Your liability coverage will pay for their injuries, income loss, and other impacts like trauma and pain.

Protects against property damage

If you cause an accident that damages another person’s car, wall, home, or fence, you will be asked to pay for the damages. You might also get sued for these damages, and the fines can be hefty.

Looking to buy auto insurance in Berlin, CT? Experts at Bogden insurance Agency can help secure a customized policy just for you. Let us help you.

What commercial insurance is required in Connecticut

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Owning a business in Connecticut is challenging on its own but add to that, all the risks that can threaten your business and the need for commercial insurance are all too evident. Every state has its own requirements for commercial insurance, and it is up to every business owner to know those and be in compliance. But beyond what is required, there are lines of commercial insurance your business can benefit from. At Bogden Insurance Agency in Berlin, CT, we take the time to get to know our customers and their risks. 

Workers’ Compensation

All businesses in the state are required to cover their workers with workers’ compensation insurance. It doesn’t matter if the employees are seasonal, full, or part-time. You do, however, have the option of self-insuring. 

Commercial Auto

If your business owns automobiles, you are required to have commercial auto insurance. The amount required is:

  • Liability for bodily injury: $25,000 per individual / $50,000 per incident
  • Liability for damaged property: $25,000 per accident
  • Uninsured/underinsured motorist: $25,000 each person / $50,000 total

Just because a particular type of commercial insurance isn’t required does mean your business won’t benefit from having it. Some commercial insurances to consider are:

  • Commercial property insurance
  • Commercial liability coverage

Commercial property insurance

Whether you own the building where you do business or rent, your business can benefit from commercial property insurance. Beyond just the physical building, it protects the things inside the building. It can help replace your machinery, inventory, records, office equipment, and raw materials. 

Commercial liability insurance

Businesses are particularly vulnerable to being sued. You may be sued by someone who was injured while visiting your business, someone who was dissatisfied with one of your products, or a service you provided. Being sued can cost a lot in legal fees as well as a judgment.

If you have a business in the Berlin, CT area, contact Bogden Insurance Agency for your commercial needs. 

How to Secure Personal Belongings Coverage Under Your Home Insurance

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Losses of property such as electronics, furniture, and other valuables during a fire or other event, are typically covered under your homeowner’s policy. While some certain limits and factors affect coverage, a skilled insurance agent can help guide you through your insurance policy to understand how much coverage you have and what is covered. Trusting professionals with years of experience and knowledge can give you welcomed peace of mind.

Bogden Insurance Agency of Berlin, CT has been helping homeowners and others with personal property insurance coverage stay protected during times of disasters and other adverse events.

Type of Personal Property Insurance

In general, two types of personal insurance coverage may be a part of your homeowner’s insurance policy. These include Actual Cash Value and Replacement Cost. Different factors can affect the level of coverage of these insurance types, so it is crucial to speak with your agent to learn more.

Actual Cash Value will reimburse a certain amount based on the current value of a possession. There are usually limits on this amount, and other factors may affect it. With Replacement Cost, a certain amount is paid to replace a particular item during the claim. It is important to discuss limits and details with your agent within your homeowner’s insurance plan that covers personal property.

Quality Insurance in Connecticut

Contact us at Bogden Insurance Agency of Berlin, CT to schedule an appointment with one of our agents to discuss your personal property insurance coverage options. We can help you understand your personal property coverage so you can be sure your possessions are adequately covered in the event of a loss. Get in touch with us today to learn more about what we offer. We look forward to serving you.