Can I Buy Renters Insurance for My Storage Unit or Rented Garage?

Renters insurance serves more than rented homes. Individuals can also purchase it to protect items stored in an offsite storage unit or garage space. At Commonwealth Insurance Center, we want Williamsburg, VA residents to understand the many uses of renters insurance.

Uses of Renters Insurance

You can purchase a renters insurance policy for any rented space. Whether you rent a storage unit, garage, parking space, or office storage, you can insure it with a renters policy. This type of insurance covers the loss of or damage to the contents of the rented space. For example, if you store ATVs in a rented garage, the renters’ policy covers them against theft.

If you renovate or add to the rented space, the policy may cover those, too. To ensure your renovation, such as built-in bookcases or ceiling-mounted shelving, receives coverage, request a rider to your renters’ policy.

What Renters Insurance Won’t Cover

Your landlord must carry insurance to cover damage to their facility, such as a storage unit facility or parking garage. Most states require this, along with their business license. The landlord’s insurance covers damage to the facility. That’s why you can only add a rider to cover modifications you make to the rented space.

Contact Our Office Today

Contact Commonwealth Insurance Center in Williamsburg, VA today to obtain renters insurance to cover valuable items not stored in your home. Let us help you cover the repair or replacement of your valued possessions. Ask us about available riders you can add to a basic renters policy to customize your policy.

Personalize Your Motorcycle Insurance

The type of motorcycle you ride, your riding habits, and various other circumstances significantly influence the kind of motorcycle coverage you need. For further information, contact an agent at Commonwealth Insurance Center in Williamsburg, VA, for a personalized quote, and continue perusing this informative guide below.

Different Motorcycle Types

Different styles like cruisers, sport bikes, and touring motorcycles have varying risk profiles. If you own a customized, fully-equipped Harley-Davidson, you’ll likely require more coverage than a budget-friendly scooter. However, size and cost aren’t the only determinants influencing some bikes’ insurability.

Motorcycles are accorded crash ratings, which insurance companies exploit to determine your premium. The safer your bike, the easier it is to find affordable insurance. On the other hand, if your bike is a high-hp bruiser with abundant torque, you may end up paying more than you would for a stock motorcycle built with an emphasis on safety over speed.

Various factors, including the cost of your bike, upgrades, and customization, impact your insurance costs. Our team of agents caters to your personal needs, keeping in mind the type of bike you ride and your individual riding habits.

Riding Habits and Motorcycle Insurance

If you ride your motorcycle to work, your cool quotient in the office is probably off the charts. However, you’re likely to incur higher insurance costs than weekend cruisers who accrue fewer miles. The terrain you ride, whether the track, the highway, or in the mountains, affects the risks you face and, consequently, your insurance costs.

Introducing a Personalized Motorcycle Insurance Review

Opt for an insurance agency with a rich history of providing custom-tailored motorcycle insurance policies. As soon as you step through our doors, a knowledgeable agent will be waiting to assist. Do you wish to discuss your motorcycle insurance needs? Seek an appointment with Commonwealth Insurance Center in Williamsburg, VA today!

Boat Insurance: All You Need to Know in 2024

The joys of boat ownership correspond with two momentous occasions: the day you secure ownership and the moment you decide to transfer that ownership. Why? Because owning a boat is a significant responsibility. Amid these responsibilities, boat insurance is one of the central considerations of a boat owner. It’s essential to understand the changing landscape of boat insurance heading into 2024:

Navigating the Currents of Boat Insurance

There are various types of coverage to consider. This decision hinges upon several factors, such as the nature of your boat, engine type, and the trailer employed for water launches.

Your location plays a vital role, too. Just as with home insurance, your physical location dictates the price you pay for your boat insurance, with some locations charging higher than others.

Including liability coverage is a wise course of action. Typically, boat insurance covers two key aspects: physical damage to your watercraft and theft. Nevertheless, adding liability coverage could further broaden your protection and won’t break the bank.

Preserving Your Valued Investment

As a boat owner, it is imperative to armor your prized possession with the best protective measures. The answer lies in having a well-crafted boat insurance policy. Suppose you’re a resident of Williamsburg, VA, or any neighboring area and are scouting for a trustworthy insurance provider. In that case, Commonwealth Insurance Center stands ready to serve you. We Specialize in various insurance types, including boat insurance, and we are prepared to address all your inquiries.

Overview of the Types of Liability Covered by Umbrella Insurance

Umbrella Insurance: Your Safety Cushion Against Potential Financial Losses in Williamsburg, VA

Umbrella insurance functions as an imperative safety cushion, offering additional liability coverage surpassing the limits of standard insurance policies. Understanding the liability types covered by umbrella insurance is vital for businesses and individuals desiring extensive protection against financial losses and potential lawsuits.

Types of Liability Covered Under Umbrella Insurance

Bodily Injury Liability

One crucial liability type covered by umbrella insurance is bodily injury liability. It provides protection to policyholders if they cause physical harm to another person and are deemed liable. Whether you’re accountable for a car accident or a slip-and-fall accident on your property, umbrella insurance can cover legal fees, medical expenses, and other associated costs.

Property Damage Liability

Your umbrella policy can assist in covering repair or replacement costs if you unintentionally damage another’s property and are held liable. This coverage applies to various scenarios, including property damage, homes, or vehicles.

Personal Injury Liability

Besides property damage and bodily injury, umbrella insurance usually covers personal injury liability. This embodies claims of invasion of privacy, defamation, slander, and libel. If someone sues you for falsely violating their privacy rights or making false statements about them, the umbrella policy can cover potential damages and legal defense expenses.

Legal Defense Expenses

The coverage for legal defense expenses is among the most valuable facets of umbrella insurance. If a lawsuit covered by your policy arises, your insurer will typically cover court costs, legal fees, and other related expenses. This can significantly aid when legal expenses escalate, offering financial security and peace of mind.

Commonwealth Insurance Center: Your Umbrella Insurance Resource

At Commonwealth Insurance Center, we can answer your umbrella insurance queries. Catering to the Williamsburg, VA region, we’re just a phone call away.

Why All Homeowners Need a Flood Insurance Policy

When you own your own home, you have to have a home insurance policy on your home. It’s important to have this for your financial protection and your quality of life. However, there’s another kind of policy that you need to have on your home. That type is flood insurance. Every homeowner should have this type of insurance to protect themselves against the massive damage that floods can do. 

Flood and Home Insurance 

Why do you need flood insurance if you have a home insurance policy? This is because home insurance doesn’t cover flooding. It will cover several types of accidents, calamities, and certain disasters, but it won’t pay for flooding. This leaves you highly vulnerable in case of a flood occurring in your area. Most of the time, floods happen in areas explicitly designated as flood zones. However, about 20% of flood claims don’t come from these areas. This means that virtually any area can suffer from a flood, even when the area itself isn’t known for flooding. 

NFIP Backing

The National Flood Insurance Program is a governmental program that backs flood insurance for homeowners. This means that a flood policy is a solid insurance product that will be there in case there’s a flood. The price will be the same when you buy a policy, no matter where you get it from. These are policies that every homeowner should have to protect themselves financially. The cost of fixing flood damage can be so high that it’s unaffordable. To avoid this risk, you need to have a flood policy on your home as soon as you buy it. 

Get Flood Insurance

Contact us at the Commonwealth Insurance Center in Williamsburg, VA to learn more about getting flood insurance. 

Three things you might not already know about condo insurance

If you live in a condo in Williamsburg, VA, you need to invest in condo insurance coverage. Commonwealth Insurance Center is a condo insurance provider you can rely on to protect your investments in your property.

The following are three things you might not already know about condo insurance. 

Important limitations to be aware of with condo facility master policies. 

While condo facilities offer some insurance coverage through master policies, condo owners need to know about the limitations of these policies. 

Master policies for condo facilities only cover the building structure. They do not cover the interiors of condo units or the personal property within condo units. Master policies also don’t cover liability expenses that condo owners may face if a guest is injured within their unit. 

Condo insurance can cover living expenses temporarily.

Severe damage to a condo unit can make it so that it is temporarily uninhabitable. In this situation, a condo insurance policy will typically cover the costs of staying in a hotel for the policyholder until the unit is adequately repaired. 

Condo insurance policies should be updated after renovation projects and upgrades.

A condo insurance policy should cover the full value of the condo unit that it insures. Renovation projects can increase the value of a condo. This makes it essential for policyholders to update their condo insurance coverage after they’ve completed a renovation or invested in a major upgrade to their condo unit. 

You can insure your condo today by calling us at Commonwealth Insurance Center. Call us for a quote on a condo insurance policy for your condo in Williamsburg, VA.

Do Stay-at-Home Parents Need Life Insurance?

One question we frequently ask at Commonwealth Insurance Center in Williamsburg, VA is, "Do stay-at-home parents need life insurance?" It’s a great question! Here, we provide the guidance you need to make an informed decision about life insurance for parents who stay home to care for or educate their children. 

Why Get Life Insurance?

First, let’s explore why anyone purchases life insurance. Life insurance serves several important purposes: 

  • it helps cover funeral and burial expenses, so your family is burdened with these costs at the time of your passing
  • it can be used to pay off existing debt to reduce the costs for those you leave behind
  • it can replace your income for those who depend on it
  • it provides a rare tax-free benefit to those you leave it for

Additionally, whole life insurance provides another vital purpose: it can be cashed out to fund major life events, supplement retirement income, or assist with emergency expenses. 

Life Insurance for Stay-at-Home Parents

Now that we better understand the purposes of life insurance, we can explore these policies for stay-at-home parents. Stay-at-home parents typically don’t have income to replace, which crosses one benefit off of the list. However, full-time childcare may be needed if the parent providing care passes away, and life insurance can help cover those costs. 

Additionally, the policy can cover funeral and burial expenses, pay off existing debt, provide a tax-free benefit to survivors, and, in the case of your whole life, provide cash while you’re still living. For these reasons, stay-at-home parents typically elect to purchase life insurance. 

Call Commonwealth Insurance Center in Williamsburg, VA, today to learn more about protecting your family or to get started with a quote!

ABCs of Boat Insurance for Virginia Residents

Owning a boat is a lot of fun and a great way to spend time with friends and family. When you have questions about boat insurance, the team at Commonwealth Insurance Center serving Williamsburg, VA is here to help. We can answer any questions you might have about boat insurance and provide the information you need to select a policy that meets your needs. Don’t hesitate to contact us when you need information about a boat or any other type of insurance. We’re here for you! 

Boat Insurance Essentials

There are several different types of boat policies, offering various levels of coverage and protection. If you’re getting ready to buy a boat, you might wonder which one is right for you. Be sure to look carefully at the collision, comprehensive, and liability protection each offers.

Your boat needs insurance protection from theft, too. And, if you transport the vessel to and from the water, you’ll want protection when it’s on the trailer. It makes sense to sit down with your local agent to get your questions answered. You’ll also be able to learn more about the details of boat policies available in the area. Don’t go out on the water without the insurance coverage you need to protect your craft, yourself, and your passengers.

Learn more about boat insurance today!

If you’re a boat owner in the greater Williamsburg, VA area, you can turn to the team at Commonwealth Insurance Center for answers to all your insurance questions. We can help you gather the information you need to make an informed decision about boat insurance and which type of policy is right for your needs. Call or stop by our office today!

Auto Insurance for High-Risk Drivers: Tips for Obtaining Coverage

Obtaining auto insurance can be challenging if you’re considered a high-risk driver. Insurance companies may view you as riskier to insure, whether due to a history of accidents, traffic violations, or other factors. However, it’s still possible to find coverage. Here are some tips from Commonwealth Insurance Center, serving Williamsburg, VA, to help high-risk drivers obtain auto insurance. 

1. Shop Around

Not all insurance companies assess risk in the same way. Some specialize in providing coverage to high-risk drivers and may offer more competitive rates. Get quotes from multiple insurers to find the best option.

2. Consider Non-Standard Insurance

Non-standard or high-risk auto insurance providers cater specifically to drivers with less-than-ideal records. While premiums may be higher, securing coverage through these insurers is often easier.

3. Improve Your Driving Record

Over time, traffic violations and accidents will have less impact on your insurance rates. Focus on safe driving practices to gradually reduce your risk profile and, consequently, your premiums.

4. Take Defensive Driving Courses

Defensive driving courses have been shown to reduce the chances of being involved in an accident. This may help you show an insurance company you are committed to driving safely and defensively and may lead to insurance discounts. Check with insurers to see if they offer discounts for completing such courses.

While auto insurance for high-risk drivers may come at a higher cost, maintaining coverage is essential to comply with legal requirements and protect yourself financially. With perseverance and the right strategies, you can find a policy that suits your needs and budget. If you’re ready to look for an auto insurance policy in the greater Williamsburg, VA region, contact the Commonwealth Insurance Center to get started today.

The Importance of Home Insurance

Curious if you need to keep home insurance? Our agents at the Commonwealth Insurance Center serving the Williamsburg, VA area can explain the importance of having a home insurance policy for your house, even if it is paid off. This is because we never know when a disaster will occur. It is so much better to be safe than sorry about the large investment you have made in your home.

The Importance of Home Insurance

No one wants to stand on the sidewalk and watch firefighters attempt to put out a fire at their home. Knowing you have no home insurance policy, you especially don’t want to be in that scenario. Most mortgage companies will require home insurance until you pay off your loan, but even if you’ve already done that, it is still imperative to have home insurance.

What Does Home Insurance Cover?

Whether your home is damaged or destroyed by a fire or is hit by a tornado or some other natural disaster, you will want to have a home insurance policy in place. Even if someone commits an act of vandalism at your home, your home insurance policy can help you pay to repair it or rebuild it, depending on the severity of the situation. Your home insurance policy will also help you out if there is a burglary at your house and your items are stolen.

Home insurance not only covers the structure of your house, but you can get a policy that also covers other structures on your property. These different structures can include garages, sheds, and even decks. Your home insurance policy will also cover your personal belongings, electronics, furniture, appliances, and other household items damaged or destroyed inside your house.

When it comes to liability, home insurance is your number one priority. This is because it will help you cover the medical expenses and other related costs if a visitor to your home is injured. Your home insurance policy can even help you out with legal expenses if the person decides to sue you.

Contact Commonwealth Insurance Center

Our agents at the Commonwealth Insurance Center serving the Williamsburg, VA area are ready to assist you with all your insurance needs, including your home insurance policy. Call today for a quote and to get your policy started.