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4820 University Dr., Ste. 7
Huntsville, AL 35816

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Does My Home Insurance Cover My College Student’s Apartment?

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College students take valuable assets to school, including electronics, furniture, jewelry, and other items, so it is essential to understand whether and how your home insurance protects those assets. Generally, home insurance policies cover children’s assets if you claim them as dependents and they are 26 or younger. However, significant limitations exist that you should know before they leave for school. Contact our Larry Burkman Agency team, serving Huntsville, AL, if you need answers concerning your home or other insurance coverage.

Home Insurance Coverage Limits for College Students

Home insurance typically covers your dependent children’s personal belongings for theft, fire, or other covered perils, as well as their liability for injuring someone or damaging the property of others.

A key consideration is that many insurers do not cover students in fraternity, sorority, or off-campus housing. Many only cover university-controlled housing, so talk to your agent in advance.

In addition to the university-controlled housing issue:

  • Coverage generally applies only to full-time students.
  • Some insurers stop their coverage when your child reaches 24 or 25 years old.
  • Belongings like jewelry, bicycles, and electronics often have low claim limits.
  • Every claim is subject to your policy’s standard deductibles.
  • The loss of belongings at "off-premises" locations is commonly capped at 10% of your personal property limit.

Talk with your agent to confirm how your policy handles your college student’s property so you can adjust your housing or insurance decisions as needed. Many college students buy affordable renters insurance that covers their belongings, much like their parent’s home policy.

Insuring with Larry Burkman Agency

Larry Burkman Agency, serving Huntsville, AL, will help develop an insurance plan that meets your family’s needs. Visit our office or call us today at 256-830-1123 to protect your family and possessions.

How is Technology Transforming the Auto Insurance Industry?

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Whether you’re aware of it or not, technology has always been involved in transforming the auto insurance industry. Most consumers are only concerned with getting the best rates and coverage and don’t pay much attention to these technological advancements. Here is an overview of how technology is transforming the auto insurance industry, whether you’re a Huntsville, AL resident or not.

The Convenience of Mobile Apps

One technological convenience that more and more auto insurance agencies are making available for their customers is the ability to manage their accounts via their cellular devices. Not only can customers use their cellular phones to access their accounts, but they can do so via their auto insurance provider’s mobile app. Mobile apps not only offer immense convenience to customers, but they also provide the ability to quickly file claims, customize your account, make payments, etc.

The Emergence of AI

Artificial intelligence is becoming increasingly useful in all types of industries, including auto insurance. AI can assist customers when actual agents aren’t available. This can be useful, especially for those who require immediate assistance with an issue. AI can also assist with accurately analyzing damage via photos, which can provide payment estimates and more. Furthermore, AI can make predictions regarding possible fraud by carefully and thoroughly analyzing usage trends, etc. This valuable tool could potentially save consumers and insurance providers billions of dollars.

The auto insurance industry will continue to make astounding transformations. If you’re a Huntsville, AL resident and you’re seeking a new auto insurance company, you should consider Larry Burkman Agency. We at Larry Burkman Agency provide coverage for the Huntsville area and beyond, and we pride ourselves on providing the best coverage and customer service. Contact us today for a quote.

Find Out What Business Interruption Insurance Covers–and What It Doesn’t

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Unforeseen events like a covered property claim can lead to the temporary closure of your business. During such times, Business Interruption (BI) insurance can be a lifesaver, providing coverage for daily expenses, lost revenue, and overhead, among other costs. Larry Burkman Agency in Huntsville, AL is here to help with this brief overview of what business interruption insurance covers and what it doesn’t.

Coverage Offered by Business Interruption Insurance

You can add coverage for unexpected interruptions to your existing business insurance to help continue paying your staff by reimbursing lost income. If your business is forced to close, serving clients or selling products becomes impossible. But, by providing your financial records to understand your coverage eligibility, your business can swiftly rebound.

If you rent a commercial space, BI insurance might pay your landlord (or mortgage company) until you’re ready to reopen. This policy might also cover the costs of setting up in a temporary location for all perils included under your policy. Most business interruption policies will cover your payroll for up to a year.

Business owners can check paying quarterly and annual taxes off their worry list with BI insurance. You might also receive help paying Small Business Administration (SBA) loans depending on your specific policy.

Limitations of Business Interruption Insurance

Business interruption insurance might not cover every situation during an interruption. You’ll still need separate property damage insurance for repairs during restoration. For instance, it doesn’t cover closures due to a cyberattack since separate policies address that. It usually doesn’t cover closures that last less than 72 hours so that it won’t reimburse for closures due to a brief power outage.

Contact Larry Burkman Agency in Huntsville, AL, to schedule a consultation with one of our knowledgeable commercial insurance agents.

Are Personal Effects And Contents Covered Under a Homeowner’s Insurance Policy?

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Understanding Home Insurance: What Does It Cover?

At Larry Burkman Agency of Huntsville, AL, we understand that the intricacies of home insurance can easily be forgotten over time. Many homeowners secure policies primarily because it’s required by their lenders, thus not paying adequate attention to the specifics. This can lead to misunderstandings about their coverage.

For instance, a common query we encounter is about the coverage of personal property and home contents under homeowners’ insurance. Let’s discuss this aspect and its implications.

Does Homeowner’s Insurance Cover Personal Belongings and Contents of Your Home?

Most standard homeowners’ insurance policies include provisions for coverage of contents and personal belongings. This coverage typically extends up to a certain percentage of the insured amount for the structure of your home. However, it’s worth noting that if you possess an extensive collection of high-value assets, standard coverage might not suffice.

If you own expensive items like antiques, jewelry, coins, or other such prized possessions, you may want to consider securing additional coverage for comprehensive protection. Also, keeping a detailed inventory of your belongings, supported by photographs or videos, can facilitate smoother claims processes in case of significant losses.

Get to Know Your Homeowner’s Insurance Policy

If you need clarity on your homeowner’s insurance policy’s limits and provisions, reach out to us at Larry Burkman Agency of Huntsville, AL. We’re more than ready to review your existing policy, irrespective of your insurer, and evaluate your coverage. Having a clear idea about your coverage can offer you considerable peace of mind and may even highlight areas of protection that need bolstering. We’re here to assist you in securing the best possible coverage for your home – contact us today for a no-obligation quote.

Are Personal Effects And Contents Covered Under a Homeowner’s Insurance Policy?

Posted on by admin

Understanding Home Insurance: What Does It Cover?

At Larry Burkman Agency of Huntsville, AL, we understand that the intricacies of home insurance can easily be forgotten over time. Many homeowners secure policies primarily because it’s required by their lenders, thus not paying adequate attention to the specifics. This can lead to misunderstandings about their coverage.

For instance, a common query we encounter is about the coverage of personal property and home contents under homeowners’ insurance. Let’s discuss this aspect and its implications.

Does Homeowner’s Insurance Cover Personal Belongings and Contents of Your Home?

Most standard homeowners’ insurance policies include provisions for coverage of contents and personal belongings. This coverage typically extends up to a certain percentage of the insured amount for the structure of your home. However, it’s worth noting that if you possess an extensive collection of high-value assets, standard coverage might not suffice.

If you own expensive items like antiques, jewelry, coins, or other such prized possessions, you may want to consider securing additional coverage for comprehensive protection. Also, keeping a detailed inventory of your belongings, supported by photographs or videos, can facilitate smoother claims processes in case of significant losses.

Get to Know Your Homeowner’s Insurance Policy

If you need clarity on your homeowner’s insurance policy’s limits and provisions, reach out to us at Larry Burkman Agency of Huntsville, AL. We’re more than ready to review your existing policy, irrespective of your insurer, and evaluate your coverage. Having a clear idea about your coverage can offer you considerable peace of mind and may even highlight areas of protection that need bolstering. We’re here to assist you in securing the best possible coverage for your home – contact us today for a no-obligation quote.

Do I Need Full Coverage Insurance?

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Many drivers understand that they must carry liability coverage to drive, but you may wonder if full coverage is also a necessity. At Larry Burkman Agency in Huntsville, AL, we provide full coverage car insurance and can help clarify any questions you may have.

What is Full Coverage?

First, it helps to understand what "full coverage" really entails. It includes collision and comprehensive coverage.

Collision coverage pays to repair or replace your vehicle if it’s damaged in an accident. On the other hand, comprehensive coverage covers incidents that don’t occur on the road, such as vandalism or storm damage.

Who Is Required to Have Full Coverage?

While full coverage isn’t a legal requirement, most lenders will necessitate you to have it if you’ve taken a loan to buy your vehicle. This protects their interests in case your vehicle gets damaged.

Value of the Vehicle

Full coverage is an excellent choice if your vehicle is new or high-value. The financial loss could be substantial if your vehicle is damaged in an accident and you aren’t adequately covered.

Your Financial Situation

Additionally, your financial situation plays a role in determining whether full coverage is a good fit for you. Consider whether you could afford to replace your vehicle if it’s totaled. Full coverage can provide the peace of mind you need if the answer is no.

Do You Rely on Your Vehicle?

If you have multiple vehicles, losing one to an accident might not disrupt your day-to-day life too much. If, on the other hand, you only have one vehicle, you should definitely consider full coverage. If your vehicle is damaged or stolen, full coverage can give you the funds you need to get a replacement quickly.

Auto Insurance at Larry Burkman Agency

If you need auto insurance in Huntsville, AL, please contact Larry Burkman Agency. Our agents are here to discuss your coverage needs and help you find a policy that fits your unique circumstances.

What is Your Excuse For Not Insuring Your Small Business?

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Do you operate a small business in the Huntsville, AL, area? Do you have business insurance? Approximately 30% of all small businesses don’t carry any commercial insurance. At the Larry Burkman Agency, we’ve heard many reasons why. What’s your excuse for not having business insurance?

Is it too expensive?

Many small businesses assume it’s costly without getting a quote. Surprisingly, business insurance can be affordable.

Can’t afford it?

In reality, you may not be able to afford the risk of operating without it. An injury claim, fire, theft, or other unforeseen issues could quickly lead to closing your business without the safety net provided by insurance.

Think you don’t need it?

Most businesses face the risk of theft, vandalism, on-premise injury, cybercrime, loss of income, storm damage, fire, and more. Unless you can readily absorb these potential expenses, you need business insurance.

You don’t have much inventory or equipment?

You can still face a liability claim even without a lot of inventory or equipment. Vehicle insurance and protection against cybercrime are other potential considerations.

Planning to get it "someday?"

We’ve heard this excuse too often—usually when it’s too late. It’s crucial to understand everything about business insurance before deciding against it. Contact us at the Larry Burkman Agency in Huntsville.

Get a quote today.

Obtaining a business insurance quote is straightforward. Contact the Larry Burkman Agency and provide answers to a few questions. We can discuss your business, your risks, and affordable solutions. You’re under no obligation or cost to learn more.

Secure the future of your Huntsville, AL small business. Call the Larry Burkman Agency today.

Is Your Homeowner’s Liability Protection Enough?

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The Larry Burkman Agency, serving Huntsville, AL, and surrounding communities, advises every small business owner, every customer with a net worth of over $1 million dollars, and every customer who thinks they may come into money to consider an umbrella policy for all their personal liability protection needs.

An umbrella policy is supplemental insurance that pays out claims when other policies do not.

Why do higher-net-worth Alabama homeowners need umbrella coverage in addition to their homeowner’s policies, even with riders for high liability limits?

Here are some examples:

  • A Mobile, AL woman was awarded $1.7 million for injuries she sustained when she slipped and fell on laundry detergent. This judgment included $420,000 for her medical bills.
  • A Lauderdale, AL delivery driver was awarded $925,000 for injuries sustained from slipping on the floor during a delivery.
  • An Alabama personal injury firm advertises that it has secured personal injury judgments of $500,000 to $3.2 million for over 30 clients—each of whom collected that money from someone like you. Or maybe they didn’t collect because the judgment drove the defendant to bankruptcy.

If your family lives in a fine home you own outright, you need umbrella insurance. If you rent a nice house and have substantial savings and investments, you need umbrella insurance. If you own a dog, keep exotic animals, your teen has a problematic driving record, or you enjoy shooting sports, you may need umbrella insurance.

Umbrella policies protect you against the worst-case scenario, in which your auto and homeowner policies are exhausted.

Don’t let a court judgment for a mishap on your property wipe out decades of accumulated wealth. Ask your agent at the Larry Burkman Agency, serving Huntsville, AL, and the surrounding area, about the proper umbrella coverage for you.

Higher Insurance Risks Based on Make, Model and Condition of Car

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In a perfect world, your impeccable driving record would be enough. Unfortunately, we live in a flawed society where accidents happen, and risk is attributed to specific car types.

The Larry Burkman Agency team in Huntsville, AL, understands all the nuances of insuring your vehicle. Other car insurance risk factors include make and model, condition (or age), and engine. Color is thought to indirectly affect your premiums. 

Make and Model

Sports cars often attract thieves. Some SUVs, Jeeps, and AWD vehicles, such as the Land Rover Range Rover, Honda CR-V, and BMW X6, are often on the “to-steal” list, too. Their engine power and resale value make them targets for higher insurance rates.

Engine and Features

Cars with a lower safety rating often cost more to cover. In addition, vehicles with larger, more powerful engines may raise an insurance premium. In the case of engine size, larger engines typically come with riskier driving because operators drive them faster, making your policy more expensive.

Condition and Age

Newer cars may result in paying higher premiums. That’s because replacing it would cost more, and the premiums often cover the depreciation of your vehicle. Otherwise, you may not be able to request a car like this after you have made your accident claim. 

Older cars are often less expensive to insure. However, they cost more to repair and could be deemed unsafe to drive. Depending on their condition, this could put them in a high-risk insurance bracket. 

Color

Brighter cars often cost less to insure. They’re more noticeable, so people may witness one being stolen. The darker colors are also sometimes considered dangerous because you can’t always see them when driving at night. 

This guide concerning what affects your car insurance rates may leave you with more questions than answers. If so, please don’t hesitate to contact the Larry Burkman Agency serving Huntsville, AL.

Commercial Insurance’s Support for Social Impact Initiatives

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Commercial insurance emerges as a vital ally around Huntsville, AL, offering tailored coverage and risk management solutions that empower organizations to effect positive societal change. From shielding against liabilities to safeguarding assets, commercial insurance bolsters the endeavors of social impact initiatives, ensuring their resilience and amplifying their reach.

Liability Protection: Safeguarding Mission-Driven Initiatives

Social impact initiatives often involve dynamic engagements with communities and stakeholders, making liability protection a critical aspect of their operations. Commercial insurance provides comprehensive coverage against legal expenses, medical bills, and damages incurred during these initiatives. This shield mitigates financial risks and fosters confidence among organizers and participants, encouraging sustained commitment to their mission.

Asset Protection: Ensuring Continuity in Service Delivery

The sustainability of social impact efforts hinges on preserving assets and operations. Commercial insurance extends coverage to facilities, equipment, and resources, safeguarding initiatives’ essential infrastructure. This protection enables organizations to navigate challenges without disruption, allowing them to focus on driving impact without fear of financial setbacks or losses.

Promoting Accessibility and Inclusivity

Commercial insurance promotes access and inclusivity within social impact initiatives by removing financial barriers to participation. Through liability coverage and risk management solutions, insurance companies enable organizations to offer affordable services, scholarships, and support for marginalized communities. This support ensures equitable access to opportunities for everyone.

Sustaining Impact: Long-Term Resilience and Growth

Sustainability is vital to the enduring success of social impact initiatives. Commercial insurance is pivotal in fostering long-term resilience by providing stability and protection against unforeseen risks. With coverage against accidents, property damage, and legal disputes, organizations can continue their work unabated, evolving and adapting to address changing societal needs.

How Larry Burkman Agency Can Help You

At Larry Burkman Agency, we can help answer questions concerning commercial insurance. We serve the Huntsville, AL, area. Call us today. 

Partner Carriers

  • ASI
  • Foremost
  • National General
  • Orion
  • Progressive
  • Safeco
  • Safeway
  • The Hartford
  • Travelers
  • Universal