While no one likes to think of death and what will happen to their loved ones when they die, there is a certain feeling of peace of mind in knowing that your loved ones will be taken care of when you leave this world. One of the ways to achieve that type of peace of mind is through obtaining good, solid life insurance and the staff at McCormick Insurance Inc. in Pembroke Pines, FL knows and can explain the different types of life insurance policies that are available to you.

If you have a basic life insurance policy through your employer, chances are that it will just be about enough to cover your funeral and burial expenses. It will not leave much for your loved ones, if any at all, to pay off other bills or to replace your income or retirement plan. You will want to have a plan in place that will pay off your debts and even pay the monthly mortgage payments or utility bills for your family. They will already be grieving over losing you and having the correct life insurance policy in place will help them through a very stressful time.

Types of Life Insurance Policies

There are several types of life insurance policies that you can choose from and here is a detailed list of the three of the most common types.

Term Life Insurance

This type of life insurance is only paid out if the person who purchased the policy dies during the term that the policy is in effect. You get to decide the length of the term, along with your insurance agent, which can range from one year to decades. The downside to this one is that once the term ends, you have to renew it or you simply do not have it any longer.

Universal Life Insurance

The most popular choice when it comes to life insurance is the universal life insurance policy because it has a type of savings account piece to it and is a permanent life insurance policy instead of a term policy. You can actually borrow from this type of policy while you are still alive to pay off bills or your home mortgage ahead of time for your family. When you pass away, the beneficiaries of the policy that you have chosen will receive the death benefit that is left over.   

Whole Life Insurance

Whole life is sometimes referred to as permanent insurance and will pay a death benefit when you die. There are three major types of whole life insurance, including traditional, variable universal, and universal life, and different versions to pick from.

To get your policy started right away, and the peace of mind that comes with it, contact the life insurance agents at McCormick Insurance Inc. in Pembroke Pines, FL to get your policy started today.

New Pembroke Pines, FL residents have 30 days to update their vehicle’s registration when moving from out of state. Additionally, bikers must change over their motorcycle insurance to their new Florida residence. There are specific steps new Florida residents must take when registering and insuring their motorcycles. The experts at McCormick Insurance Inc. know moving is a busy time and are ready to help new residents with insurance coverage. 

Here are some requirements for new Florida residents with motorcycles:

Motorcycle Registration

All new Florida residents have 30 days to transfer their out-of-state registration to Florida. Registration, plates, driver’s license (with motorcycle endorsements), and titling for the vehicle must be taken care of and updated with your new address. New residents must update and transfer everything in person at a local DMV office. 

Motorcycle Insurance

Insurance coverage varies from state to state, and when moving to Florida, your motorcycle insurance also needs updating. Contact your insurance agent to change your motorcycle insurance coverage to the state of Florida, which is required for all licensed drivers to carry with them.

Florida bikers must carry the following insurance coverage: 

• Bodily injury liability: $10,000 per person
• Bodily injury liability: $20,000 per accident
• Property damage liability: $10,000
• Medical payment coverage: $10,000

Additional Coverage Options

As with auto insurance policies, you can customize your motorcycle insurance based on your coverage needs. Additionally, coverage options include collision insurance, comprehensive insurance, uninsured and underinsured motorist insurance, and gap insurance. 

You only have 30 days to change over your registration after moving to Florida. So, it is recommended you do not wait to update your motorcycle registration and insurance after moving to Pembroke Pines, FL. For assistance getting everything you need, call the experts at McCormick Insurance Inc. today. 

Do you know what the difference is between inland marine insurance and marine insurance? Not many people do. McCormick Insurance Inc serving the city of Pembroke Pines, FL is here to help you.

Marine Insurance

Marine insurance is exactly what it sounds like; insurance related to boating and shipping. Marine insurance has been around for centuries. At the most basic level, it is insurance against the loss or damage to watercraft and their cargo. Marine insurance has several subcategories, so if you own, build, or use watercraft in any way, then marine insurance is for you. In Florida, one of the subcategories of marine insurance is inland marine insurance, which is defined differently.

Inland Marine Insurance

The name of this type of insurance is misleading, often making you think of boats. Inland marine insurance is, in fact, the insuring of goods or property in transit excluding boating transportation. Inland marine insurance is a type of property insurance for your business. It can cover many types of transportation as well as liability exposure should something happen to someone else’s property while it is in your care during transportation. It is also a good idea to consider inland marine insurance if you are transporting your own goods or equipment regularly.

Take action today!

In summary, marine insurance is for you if you are involved with or use watercraft. Inland marine insurance is for you if you are in the business of transporting goods for others or yourself regularly. Contact McCormick Insurance Inc. serving the Pembroke Pines, FL area today. Let us help you get the insurance you need for you, and your business to safeguard your people and your profit.

The boating season is here. As the temperatures creep up, it’s time to get your boat from storage and hit the waters. But whether it’s sailing, picnic, or fishing, you need watercraft insurance from McCormick Insurance Inc. to have a relaxed time in the water. That said, if you own a boat in Pembroke Pines, FL, here are four boat insurance coverages you must consider. 

But before then, you need to distinguish between the actual value and the agreed value when shopping for boat insurance. Here is the difference:

• Actual value: This value takes into account the depreciation factor when compensating you for your loss. 
• Agreed value: When looking for compensation for repairs or replacement of your boat, you get the amount agreed upon between you and your insurer. 

Must-have boat insurance coverages

While there are many boat insurance coverages, your policy should have a minimum of the below: 

• Liability coverage: When you are legally liable for an accident, you could face property damage and bodily injury claims. Without boat insurance, you may have to finance third-party claims from your pocket. 
• Physical damage coverage: Comprehensive coverage comes in handy when not using your boat. It protects your boat against non-collision risks like theft, vandalism, fire, and certain natural calamities. On the other hand, collision coverage protects your boat against physical damage sustained in a collision.
• Medical payments coverage: This coverage pays for the medical expenses for you and your passengers when involved in a boating accident. 
• Uninsured boater coverage: What would happen if you collide with a boater without insurance? If they are deemed liable, you could be faced with uncovered property damage and bodily injury costs. For this reason, you need uninsured watercraft coverage to cushion you against less-responsible boaters.

While boat insurance is broad, having the above coverages is an excellent place to start. If you are unsure what coverages you need in Pembroke Pines, FL, please connect with McCormick Insurance Inc. for guidance. Here, we believe that there exists no one-size-fits-all boat insurance. As such, we provide tailor-made boat insurance to suit your personalized needs.

The Pembroke Pines, FL area continues to be a fun place to live. One of the advantages of being in this part of the state is having access to many local recreational amenities. A way that you can enjoy the entire area is by investing in an RV. There are a few situations when people here will need to have an RV insurance plan.

When Taking Out a Loan

A situation in which many RV owners need to have a proper RV insurance policy is when they are taking out a loan. With low interest rates, now is a great time to finance the purchase of an RV. While an RV loan can help you get into a great RV, there are responsibilities that go along with it. In many cases, you will be obligated to carry a full RV insurance policy. 

When Driving on a Public Road

As you are looking to drive an RV, it is also important to understand the laws regarding insurance. Any RV owner will be obligated to carry at least a liability RV insurance plan. This coverage is required by state law and ultimately ensures drivers are able to cover damages they could cause during an accident on the road. 

There are a lot of situations when an RV owner will need to have proper insurance for it in the Pembroke Pines, FL area. As you are evaluating all of your insurance needs and options, calling McCormick Insurance Inc. is a good option. There are a lot of choices to make when looking for this coverage and McCormick Insurance Inc. can make it a lot easier for you. They can help you build a plan that will give you and your RV ideal coverage for your situation. 

Vacant Dwelling and Builders Risk Insurance

This type of insurance is a little lesser known to most people until they understand how useful it is. During remodeling and home construction, builders risk will keep the structure and equipment covered during building. With vacant dwelling insurance, your home will stay protected when you are not occupying it for an extended period.

If you live in Pembroke Pines, FL, contact McCormick Insurance Inc. today to speak with one of our agents. We will be happy to schedule an appointment and discuss a quote for vacant dwellings and the builder’s risk insurance.

Benefits of Vacant Dwelling Insurance

If you have properties that are often unoccupied, being constructed or remodeled, vacant dwellings and builders risk insurance can cover you during events when you are not there. This can offer peace of mind and protection for your valuable investments. Some incidents that may be covered under a vacant dwelling policy:

• Unexpected Disasters – Your home may have pipes that break leaving you with significant damage while you are away. Staying insured can help cover these types of events.
• Vandalism and Theft – Thieves and vandals may target properties that have been vacant for some time. For this reason, being insured is a wise choice.
• Multiple Properties – If you have gaps between residency because of buying and selling property, vacant dwelling insurance can cover you for short periods.

Professional Insurance Agents in Pembroke Pines

The agents at McCormick Insurance Inc. of Pembroke Pines, FL have experience working with vacant dwellings and builders risk insurance. We can help you understand the finer details of your policy and make the most of your vacant dwelling insurance. Contact us for a quote and to speak to one of our representatives today.

Life can hand you a lot of lemons sometimes, and it is important that you and your business are covered. Sometimes, that coverage is not enough–thankfully, there is excess insurance. At McCormick Insurance Inc., servicing Pembroke Pines, FL, we understand the need for something dependable that goes more than just standard coverage. We can help you explore your coverage options.

Excess insurance is often confused with umbrella insurance coverage. Both of these types of insurance work in conjunction with what you currently have. Excess and umbrella insurance also go beyond your current coverage—just in different ways.

While they are similar, they have some major key differences. Excess insurance just simply extends the limits of what is covered in your current policy. Excess insurance can be purchased at both the personal and commercial level, making it a great option for smaller or mid-size businesses that cannot afford the full extent of umbrella insurance. Life can be unpredictable at times, you want to make sure that everything is covered and that your policy is appropriate for you and your business.

It can be hard to differentiate between umbrella insurance and excess insurance, which can make it hard to find the right policy and coverage for you and your business. By calling a McCormick Insurance Inc. representative, you can cut through all the confusion and dead ends and understand what it means to you. We know that your time is valuable, so it is important to us that you get back to what matters.

The likelihood that you or your business find yourself in a drastic scenario is slim, however, it is never impossible. And in this ever-changing world, it can be comforting to know that you are protected when life throws a hurricane at you. Speaking of hurricanes… excess insurance can come in handy for those nasty Florida storms that can destroy your home or business to a further extent than your current coverage.

Excess insurance works in conjunction with a current policy. It simply has a higher limit to your coverage and kicks in once your primary insurance has been exhausted. Hence the reason it is called excess. Excess insurance does not cover anything outside what is currently covered under the primary policy.

There are many benefits to having excess insurance. It can be a financial lifesaver to many small businesses and personal policyholders. You never know when lightning strikes twice—so it is key to have excess insurance to protect you against the unforeseen events of life.

When it comes to insurance, you do not want to be left short. And that is where excess insurance comes in handy. From covering everything from medical bills to auto repairs to lawyer fees, excess insurance can keep you and your business from going under. Just because it does not increase the scope of your insurance does not mean that excess insurance is not beneficial.

If you currently have an excess insurance policy, it can be helpful to find out the extent of coverage. Your present policy may not cover everything your company needs or wants it to protect in the event of an emergency. If you find that your excess coverage is out of touch with your company or is not a good fit anymore, it may be time to update your policy.

To find out more about the advantages that excess insurance can give you or to find the right policy for you, please contact us at McCormick Insurance Inc., servicing Pembroke Pines, FL. Our agents are here to answer any questions you may have about excess insurance and explore coverage options.

McCormick Insurance Inc. wants to help you protect your business if you have property you have to transport on a regular basis. If you do not already have a great inland marine insurance policy or if you would like to learn more, here are some common questions about this type of insurance. We serve Pembroke Pines, FL and the surrounding areas. 

Frequently Asked Questions About Inland Marine Insurance:  

• What is inland marine insurance? The name is misleading. Inland marine insurance is technically a type of property insurance for property being transported overland. It is not commercial vehicle insurance. It is for your product or materials that are transported by truck or train or the like, most often by a third party. 
• Does my business need inland marine insurance? If your business transports items through a freight system then there is risk. The level of risk varies with each situation and unique business. It is likely that the item being transported is worthy of properly insuring with additional insurance to protect your assets. 
• What is a scenario commonly covered by this insurance? If the semi-moving your property gets into a fender bender that damages your property this coverage may protect you further than their commercial insurance covers. There are many scenarios that would justify this insurance add-on. 

If you live in the area of Pembroke Pines FL contact us at McCormick Insurance Inc. to learn more about Inland Marine and other insurance coverage. We serve the region with quality insurance services for your life, home, vehicle, and business. It may be much more simple to add on insurance for special situations in your business than you expect.