What Is Commercial Insurance?

You have devoted a good part of your life to building your business. You have spent long hours away from friends and family building the company up. It probably has been your dream for years, if not decades, to run the business you currently are running. With that said, if you are not careful, one hiccup can completely derail your business. That is exactly why you need commercial insurance. But what exactly is commercial insurance, and what can it do? Here at Newman Insurance Agency in Jackson, MS, we are here to help answer every question you might have regarding it. 

Protecting Your Business

Commercial insurance can cover just about every part of your business. It can protect the physical property, just like home owner’s insurance would. It can also protect the equipment you use within the property. You will want to consider commercial insurance for vehicles if you drive for your business, and there is worker’s compensation should an employee injure themselves while performing work-related tasks. You can even obtain insurance that protects payroll, so if your business has to be shut down, you will have money to continue paying your employees. There is a commercial insurance option that will assist in protecting your business at all times and in all situations.

Protect Your Business With Commercial Insurance

When it comes to protecting your business, you need to take out commercial insurance. You never know what the future might hold, but you can prepare for it with commercial insurance. If you’re not sure which form of commercial insurance is right for you, our staff here at Newman Insurance Agency is ready to assist you. So whether your business is located in Jackson, MS, or the surrounding communities, give us a call. We’re here to help. 

How to Verify the Contents of Your Home After a Home Insurance Claim

There are so many things that can happen to your home throughout its lifespan. When you own a home, you are exposed to a slew of risk exposures. You could get damage to your home due to a wind storm, hail, a tree falling, or something else entirely. This is when home insurance comes into play in a big way. Home insurance can also help to reimburse you for the contents within your home. Verifying what you had though requires some homework on your part.

When you go to file a home insurance claim for the contents of your home, the goal is to try and collect the value of all your personal property items. A home loss can result in a lot of damage and destruction, especially to your property. The basic strategy to all of this is to try and document, list out each of the items. You also want to denote the values of those items.

When you are filing a claim with your home insurance provider, you want to try and produce as much evidence as you can. It goes beyond just providing a listing and value. When you can produce receipts, photographs, as well as any other type of evidence, it can go a long way. This can help you with your home insurance provider so that you can recover the losses you expect.

A home insurance loss is something that no one wants to have to go through. Home losses take place daily, though, in Jackson, MS. Homeowners have home insurance for a reason, and acting on it with a claim filing is the way to go. Recover the losses of your home’s contents by providing evidence and detail. For more information on how this works and related coverages, reach out to Newman Insurance Agency in Jackson, MS.  

3 Ways to Prevent Auto Theft

The agents of Newman Insurance Agency have valuable information for Jackson, MS residents who are concerned about auto theft. There are several simple steps you can take to reduce your risk of a break-in or of having your car stolen. Take a few minutes to read the following precautions and lower your chances of being victimized.

Always Lock Your Doors

Always lock your doors, even if you are just sitting in your car with your engine turned off. Locking your vehicle and setting your alarm (if you have one) is the best to eliminate unwanted entrance into your vehicle. Keep your keys close at hand at all times.

Keep Valuables Out of Sight

Keeping all of your valuables out of sight is also extremely important. Theft is less likely to occur if nothing of value can be seen. Most thieves won’t risk getting caught if there is nothing of value to be gained.

Park in a Secure Location

Always park your vehicle in a secure location. In a garage or close to your home in a carport are the most preferred choices. If you must park your car on the street, always park as close to a street light as possible and make sure it is locked and the alarm has been set. Avoid parking on side streets or in dark areas.

At Newman Insurance Agency, our agents are dedicated to assisting residents of Jackson, MS with all of their car insurance needs. If you have questions about your existing policy or need to purchase a new one, don’t wait to call. Stop by and visit with one of our reputable agents at your earliest availability.

Commercial Insurance Considerations For New Businesses

Starting a new business is an exciting and stressful venture. Many new business owners of small and large ventures alike are unsure when they should begin to navigate the waters when it comes to purchasing commercial insurance. We want to clear up any confusion for new business owners at Newman Insurance Agency. We serve the people of Jackson, MS and surrounding areas. 

If You Have a New Company Consider This When You Purchase Your First Commercial Policy: 

  • How many employees do you need to cover?  If you have five or more regular employees, you must carry at least a worker’s comp policy. If your employees are independent contractors, then there may be a loophole. Still, it is always best to carry coverage to protect yourself and your employees whether you have the minimum number or not. 
  • What are your company vehicles? Any business-owned vehicles must have commercial coverage, not just regular auto coverage. This is to fully protect you, the employee driver, and your company. 
  • Do you have special machinery to consider? You should protect specialized machinery with commercial insurance or even an umbrella policy. Where will you be if that machinery is damaged and your companies production comes to a halt? You will need to protect all your company’s qualified assets with commercial insurance to ensure smooth running even in bad times. 

Contact us at the Newman Insurance Agency to learn more about Commercial Insurance for your new business. We will be happy to answer any questions you may have and offer you a clear quote. We serve Jackson, MS, and the surrounding areas with comprehensive insurance services. 

What does home insurance cover?

You know that you need home insurance in Mississippi. The notion of how much insurance you need, however, is up for grabs. Jackson is highly capable of flooding, which means that you need coverage for damages caused by natural disasters. You may also want to consider coverage for personal possessions that are of high value. Newman Insurance Agency can help you find a reliable home insurance policy to fit your needs. Read on to learn what a standard home insurance plan covers and how much coverage you may need to live comfortably in the city. 

What does a standard home insurance policy cover?

A standard home insurance policy, for the most part, covers the structure of your home along with the possessions inside. How much you will receive after an incident is, of course, dependent on your policy limits. Those who choose to pay more for home insurance in Jackson, MS can typically claim more than those who wish to spend less in monthly premiums. 

It is important to note that a standard insurance plan does not cover natural disasters. You need to purchase additional insurance specifically for flooding, earthquakes, and fires to receive compensation for damages in these instances. 

How much home insurance do you need?

The amount of home insurance you need depends on several factors, which include the amount you are willing to pay along with the monetary value of your possessions. You also need to consider the amount of insurance for flooding you need since Jackson is highly susceptible to severe storms. Most mortgage companies require homeowners to obtain coverage for natural disasters because of Mississippi’s high probability of flooding. 

The agents at Newman Insurance Agency in Jackson, MS can help you find the home insurance policy that fits your budget and overall needs. Call us today to get started with a quote for coverage!

When Should Commercial Insurance Be Reduced?

Commercial insurance coverage needs can fluctuate over time. This doesn’t always reflect how well the business is doing, but may indicate the need to take a more digital approach and reduce the need for a brick and mortar location or downsize in some capacity, which will require a reduction in coverage. 

Reducing Commercial Coverage

Many businesses today have needed to reduce commercial coverage as a result of changing needs. When purchasing an insurance policy, make sure to work with an agent who can help with fluctuating needs over time to make sure the company isn’t paying for excessive coverage. These agents can help file the paperwork necessary and explain any terms and conditions before making a policy purchase. In addition, they can help file any claims that occur in the future. 

The Right Policy Protection

The top way to protect a business with commercial coverage is to select the right policy. Not all policies are the same, and it is vital to know how they work and what they cover. Additional coverage options can be purchased to get a more comprehensive package, but make sure that reducing coverage when needed is hassle-free and convenient with the assistance of a qualified insurance agent. Those who are looking for great commercial coverage near the Jackson, MS area can count on Newman Insurance Agency to give them options that work. 

Commercial insurance coverage can be tricky, which is why having an insurance agent working with you is the best strategy to have when shopping for a policy. Jackson, MS business owners should call or stop by Newman Insurance Agency to get more details about coverage needs. 

4 tips to help you safeguard your home

The holiday season is here. It is that time of the year that you get to rest, meet friends and family, eat together, have fun, and go on vacation. It is not a time to worry about burglars because here at  Newman Insurance Agency, we emphasize on maintaining safety in your home. 

Household burglaries in Jackson, MS are not common, but they do happen. Keeping your home safe this festive season should be your topmost priority. Here are four ways to help you do it.

1. Secure your doors

It is crucial to have sturdy, durable doors and locks and keep them locked. There have been several reports of burglars entering through unlocked doors or ones without deadbolts.

2. Have smart lamps

Smart lights are a great way to keep your nosey neighbors and thieves out of your home. With smart lights, you can turn them on anytime you wish wherever you are. You can even add more smart security systems with voice assistant to follow commands and make your home look busy while you are away.

3. Get a dog

If you didn’t know, dogs are the best security system. Unlike your security personnel, dogs cannot betray their owners. Leaving them behind when you are out on vacation can be a good idea. 

4. Install a home security system

Naturally, a reliable way to keep burglars away from your home is to install a highly technical security system. Quality security systems are managed professionally, so you don’t have to call a fire station or report to a police station because they will do that on your behalf.

Another important tip is to buy home insurance. A home insurance policy will help you replace the stolen items so that your finances stay in check. Visit us at Newman Insurance Agency in Jackson, MS to get more information on home and other insurance policies. 

The Basics Between Full Life Insurance and Term Life Insurance

Purchasing a life insurance policy is a crucial step in preparing for the future. It ensures your loved ones will be taken care of after you are gone. You will have peace in knowing that your funeral expenses, as well as your loved one’s living expenses, will be taken care of. When buying life insurance in Jackson, MS, you will have two main types to choose from; term life and permanent insurance. For you to choose the best policy from Newman Insurance Agency, here is some necessary information about the two types of life insurance.

Whole Life Insurance

Whole life insurance is the most popular option, and as long as the policy is up to date, it provides lifelong coverage. This type of life insurance is considered an investment (the cash value of the policy), and since the cash value grows slowly, it is generally tax-deferred, which means you will not pay taxes on the gains as they accumulate. Once the value of the policy reaches an amount specified by the insurance provider, you can borrow money against the policy, or you can sell the policy for the specified amount. However, if the policy loan isn’t repaid, it will reduce the death benefits, and if the policy is sold, you will no longer have insurance coverage. When you purchase whole life insurance, the premiums will remain the same for as long as you own the policy.

Term Life Insurance

Term life insurance is designed to provide coverage for a specified period. For instance, you can buy a term life policy for 10, 20, or 30 years, which means the policy will only payout if you pass within the term of the policy. This type of life insurance does not have any other value, such as the option of borrowing against or selling the policy. When choosing a term life policy, it’s essential to select a term that will best suit your budget and the amount should be what your family will need if you are no longer there to provide for them. Ideally, the term of a term life policy should expire when your family’s need for the insurance expires, such as after your children are grown and living on their own, your home is paid off, or you have money saved to provide a financial safety net for your spouse.

A whole life policy is generally the option for younger adults, whereas a term life policy may be the best option for middle-aged or seniors.

Residents of Jackson, MS that want to learn more information about buying a life insurance policy should contact Newman Insurance Agency.


What is Replacement Cost Coverage for Auto Insurance?

If you are concerned that you may not have enough auto insurance or you are getting a new auto insurance policy, it is important to understand the meaning of two concepts, the replacement value and the actual value (sometimes called cash value).

The replacement value is what it costs to go out and buy a new car of the same model and type. The actual value is the price the auto was purchased for, less accumulated depreciation. Alternatively, it is what the auto would sell for as a used vehicle. Unless a vehicle has some unusual characteristics, the replacement value is usually higher than the actual value.

You do not need to figure this out on your own. You can ask your agent at Newman Insurance Agency, serving Jackson, MS and the surrounding area, to make the estimates for you and then compare the insurance options for the actual value and the replacement value.

Replacement Value for Totaled Vehicles

If a vehicle that is involved in an accident needs repairs, which cost more than it is worth, then the vehicle is considered to be totaled. If you have replacement-value coverage the insurance may be enough to pay for a new auto plus the sales tax, title costs, and transfer fees. That is the goal for adequate coverage. Discuss this with your agent.

Auto Loan Considerations

Occasionally, an auto loan is for more than the vehicle is worth. This may cause a problem if it is involved in an accident and the insured value is too low. Be sure to have your agent check the auto insurance to make sure it is adequate for the loan balance remaining on the vehicle. You do not want to have an insurance gap that will not pay off the lender fully if the vehicle is totaled.

To get an insurance review and a quote, contact your agent at Newman Insurance Agency in Jackson, MS by calling or use our convenient online rating tool.

Benefits of Alarm Systems on Your Commercial Insurance Policy

Protecting your business in Jackson, MS is a top priority. To do this, you need the right commercial insurance policy. But to really get the benefits of this policy, there are a few things you need to do: meet state requirements, install alarm systems, and then relax knowing that your business is protected every moment of every day. Read on to learn more about getting the most out of your commercial insurance policy. 

Meet State Requirements

Generally speaking, fire alarms are a state requirement for your business to meet local, state, and federal fire codes. The systems vary from simple to highly sophisticated, depending on the size and scope of your business. They are also often required by your insurance carrier. 

Get a Discount on Your Premium

When you install qualified alarm systems, most insurance companies will give you a discount on your commercial insurance policy. However, many companies require that you first install the required alarm systems before purchasing your policy. The most common alarm systems for businesses are fire and security alarms. In some cases, your insurance carrier may mandate a very specific fire and alarm security system that you need to install.  

Have Peace of Mind

After installing the qualified fire and security system at your business location in Jackson MS, you will have peace of mind knowing your business is protected. A security alarm reduces the risk of theft, while a fire alarm reduces the risks of having your entire business go up in flames.  

To learn more about purchasing a commercial insurance policy in Jackson, MS and how to maximize your savings and other benefits, contact the team at Newman Insurance Agency. Our friendly agents will answer all your questions, help you compare quotes, and find the perfect policy for your business. Call Newman Insurance Agency today at 601-487-6801.