The History of Umbrella Insurance

Umbrella insurance is coverage that extends beyond the limits of your primary insurance policies. It can be paired with homeowners, auto, or commercial insurance as an extra protection layer. If a lawsuit maxes out your policy limits, umbrella insurance steps in to cover the remainder. However, not everyone is familiar with umbrella insurance or its history. This article provides a brief overview of its origins and development.

The Genesis of Umbrella Insurance

Umbrella insurance has roots dating back to the late 19th century, originating after the Employers’ Liability Act of 1880 was enacted. This Act came into existence as individuals sought compensation after workplace injuries. Yet, umbrella insurance only became widely used in the mid-20th century. Around the 1950s and 1960s, individuals and businesses recognized that umbrella insurance could protect them from out-of-pocket liability costs. While initially, people and companies experienced financial hardships due to lawsuits, the emergence of umbrella insurance changed the panorama.

The Evolution of Umbrella Insurance

The rules and types of coverage have evolved considerably over the years. While the feature of additional liability coverage remains unchanged, there’s much to expect from the future of umbrella insurance. As revisions are continually made to serve policyholders better, umbrella insurance will continue to protect against unexpected expenses with even greater efficacy.

Walker and Associates Insurance Agencies Inc.: Securing Your Future

If you’re a Fillmore, NY resident looking for an insurance provider, Walker and Associates Insurance Agencies Inc. is here for you. We offer coverage beyond Fillmore, NY, and we take immense pride in exceeding our customers’ needs and expectations. Don’t just take coverage for granted; go the extra mile with umbrella insurance. Contact us today for a quote.

Does my home insurance policy cover my work-from-home business?

Understanding Home and Business Insurance for Home-Based Workers

In an era where full or part-time remote work and side hustles have become commonplace, it’s crucial for everyone to comprehend the importance of financially and legally bifurcating our home and work lives. Home insurance policies offer limited coverage for work-related equipment and paraphernalia, and this blog post aims to explore how to enhance such coverage, especially for those residing around Wellsville and Fillmore, NY. At Walker and Associates Insurance Agencies Inc., we are dedicated to tailoring a home and business insurance plan that fits your unique needs.

Home Insurance and Working from Home

Your home insurance policy prioritizes personal coverage over business-related assets and activities. Typically, most home policies provide up to $2,500 coverage for business assets, a limit often surpassed by small enterprises. If your business assets exceed this amount due to items such as inventory, tools, or office equipment, you should consider adding supplemental coverage.

Options for Additional Coverage

Adding a business property endorsement to the existing home policy is a common approach for self-employed individuals. Should your business assets reach the standard $5,000 endorsement limit, consider elevating it as necessary. Businesses with employees that yield revenues below $250,000 can take advantage of in-home business insurance, which covers property, liability, and other commercial insurance aspects. Businesses with revenue exceeding $250,000 should ponder over a Business Owner’s Policy (BOP) that includes commercial insurance elements like Workers’ Compensation and liability coverage for colleagues or customers who might get injured at your home office.

Working with Walker and Associates Insurance Agencies Inc.

The Walker and Associates Insurance Agencies Inc. team is always at your service. We proudly serve homeowners and businesses in and near Wellsville and Fillmore, NY. Contact our Fillmore office at 585-207-3066 or our Wellsville office at 585-593-9678 today to schedule an insightful consultation with our seasoned agents.

The Benefits of Renters Insurance While in College

If you or your loved ones are moving off for college, you may want to consider taking out a renters insurance policy. These policies can provide financial protection and also peace of mind. Many parents are worried about their kids after they leave the nest, but with the right insurance plans you can at least mitigate some of the financial risks. If you’re looking for renters insurance and an agency that serves Fillmore, NY, contact Walker and Associates Insurance Agencies Inc.

How Renters Insurance Protects Students

Unfortunately, students living in rented housing while at school may end up being victims of theft, vandalism, and other crimes. Someone might break in while the student is in class and steal their TV, for example. If the student doesn’t have renters insurance, they may have to pay for everything out of pocket. Since many students are tight on cash, this could be quite a burden.

On the other hand, renters insurance might cover the costs. That said, it is wise to read through every insurance policy closely to determine what is and is not covered. You can also work with an insurance agent who can explain everything to you.

Renters insurance may also provide protection in other situations. For example, if a house burns down, the student may lose all of their belongings. Trying to deal with that financial burden while studying can be very stressful and could overwhelm many people. The right rental insurance policies could provide assistance.

Reach Out To Us

If you’d like to learn more about renters insurance and college students, get in touch with Walker and Associates Insurance Agencies Inc. We serve Fillmore, NY and various other communities.

Enjoy the RV Life With Motorhome Insurance

Motorhome insurance makes it so that the residents of Fillmore, NY can travel with peace of mind. You can enjoy the lifestyle without worrying about unexpected risks or costs.

Benefits of Motorhome Insurance

There are several benefits of motorhome insurance. Depending on your policy from our agents at Walker and Associates Insurance Agencies Inc., you can get:

  • The full replacement costs of your RV and its contents: This means you can repair your RV or get a new one without coming out of pocket.
  • Coverage for lodging: Let’s say your RV breaks down. Motorhome insurance pays for you to stay in a hotel while it’s being fixed.
  • Personal liability coverage: If one of your guests gets injured while in your RV, your policy pays for their legal fees and medical bills if they sue you.
  • Coverage for your awnings and other attachments: This protects your RV accessories from vandalism, theft, or weather damage.

Benefits of RV Life

When you know your RVing adventures will continue no matter what, it makes it easier to enjoy everything this lifestyle is about. For instance, you get:

  • The freedom and flexibility to explore different scenic spots at your own pace.
  • The ability to bring the comforts of your physical home with you on your journey.
  • To enjoy nature and all things outdoors while still having access to amenities like bathrooms and electricity.
  • The chance to make new friends and memories

No matter how far you wander from Fillmore, NY, peace of mind is a priceless gift. When your worries are a thing of the past, it makes it easier to live in the moment and appreciate the experience. Our expert agents at Walker and Associates Insurance Agencies Inc. are ready to help you navigate the ins and outs of your motorhome insurance policy. Contact us today to find out how.


Can RVers Cancel Their RV Insurance When Not Traveling?

RV owners in Fillmore, NY should make sure to insure their vehicles when traveling on the road, as insurance is required per New York State law. The same coverages don’t necessarily have to be in place when not traveling — but this doesn’t mean that it’s right to cancel insurance altogether.

The Risk of Uninsured Losses

Even when not traveling, your RV can still be at risk of theft, vandalism, or damage from natural disasters. Canceling your insurance means these risks are no longer covered, potentially leading to significant financial loss. 

RV insurance policies often include comprehensive coverage for such events, and it’s usually wise to at least maintain this coverage all year.

Alternatives to Canceling Insurance

Instead of canceling your RV insurance, consider adjusting your coverage. Many insurers have options for seasonal or storage coverage, and most companies let you switch between the two when you want. Storage coverage normally only has comprehensive coverage and maybe a few ancillary protections, so it’s highly affordable.

Walker and Associates Insurance Agencies Inc. Is Here To Help

Adjusting coverages is something that you should do with the aid of a knowledgeable insurance agent, such as one of our agents here at Walker and Associates Insurance Agencies Inc. in Fillmore, NY. An agent will be able to help you adjust coverages and make sure the important ones are in place when you need them to be. It’s easy to overlook something if changing coverages on your own.

Three Things to Check Before You Get Your Motorcycle Out in New York

If you have a motorcycle in Fillmore NY, you understand that this is a seasonal proposition. Each winter, your motorcycle sits in the garage collecting dust while you wait for that first day of spring to take it for a ride. Because of this, it might not be ready to drive the second you pull it from the garage. There are some things you need to prep before it’s safe to ride.

At Walker and Associates Insurance Agencies Inc., we are here to help, so here are three things you need to get ready before you take your motorcycle out next summer. 

Three Things to Check Before You Get Your Motorcycle Out

1. Check the Battery

Make sure your battery has a full charge before you take it out. You can use a multimeter to see how much power is left in the battery. If you don’t have a multimeter, check to see how quickly the engine starts when you turn the ignition. The battery is low if the engine takes a second to get going. Batteries tend to lose power if they sit for a long time without being started. It’s also a good idea to replace your battery if it’s over five years old. 

2. Brakes

Your brake pads can degrade over time as they sit in storage. You don’t want the surprise of them not working to sneak up on you on your first ride of the summer. To check your motorcycle’s brakes, put it on its center stand and pump them. You should be able to feel how much sponge is left in the padding. It’s also not a bad idea to change your brake fluid each season. 

3. Tires

Bald tires are incredibly dangerous. Luckily, a simple eye test can tell you if they have enough tread to get out on the open road. You should also inspect the tires for any small cracks or dry rot that could have developed while in storage. 

Schedule A Consultation Today

Before you get on the road, make sure your motorcycle is properly insured. At Walker and Associates Insurance Agencies Inc., we can help you determine the best coverage for you and your bike. We have been serving the Fillmore, NY area for years, helping motorcycle riders stay safe on the road. 

The Benefits of an Annual Boat Insurance Review

Boat insurance is an important tool for safeguarding what is often a significant investment. To make sure your boat or vessel coverage remains cost-effective and sufficient to meet your ever-evolving needs, the insurance professionals of Walker and Associates Insurance Agencies Inc. in Fillmore, NY offer this guide regarding the benefits of an annual boat insurance review.

Defining an Annual Boat Insurance Review’s Benefits

First, it is noted that coverage options and legal requirements of insurance are subject to change, so a yearly review ensures you are legally compliant and aware of any potential coverage changes. In addition, reviewing your boat policy provides an important peace of mind and allows you to –

1. Ensure your policy details and bat usage/location are accurate and up-to-date.

2. Adjust your coverage as your insurance needs change.

3. Assess if your deductible and protection align with current financial objectives.

4. Confirm if your liability coverage protects all of your current assets.

5. Determine if there are coverage types that may be beneficial for your personal situation.

Contact Us Today

Owning a boat can be a rewarding experience with many hours of enjoyment. However, like any asset, a boat should have proper protection. An annual boat insurance review is the easiest and smartest way to make sure your boat and your financial interests are sufficiently protected. For more information, contact us at Walker and Associates Insurance Agencies Inc. in Fillmore, NY today.

Three challenges you may face when you buy umbrella insurance

Umbrella insurance can offer comprehensive protection to consumers in Fillmore, NY. However, navigating its complexities can be daunting. Fortunately, we’re here to help at Walker and Associates Insurance Agencies Inc. 

The following are three challenges that we can help you with when you buy umbrella insurance:

Thoroughly understanding the terms of your umbrella insurance policy

Understanding the terms of an umbrella insurance policy is essential for informed decision-making.

Consumers need to take the time to carefully read through their policy so that they fully understand it and won’t face any unpleasant surprises about their coverage down the road. 

Deciding how much umbrella insurance coverage to buy

Choosing the right amount of umbrella insurance coverage demands thoughtful consideration. Assess your assets, potential risks, and existing liability coverage.

Investing in enough umbrella insurance coverage ensures that you’re adequately protected in the face of unexpected events. Your umbrella insurance policy should ensure your financial well-being and provide you with peace of mind.

Being eligible for umbrella insurance coverage

Meeting the eligibility criteria for umbrella insurance is essential. Some consumers don’t realize that there are eligibility requirements for umbrella insurance until they start looking for coverage.

An umbrella insurance policy typically has primary liability coverage requirements that you need to meet with your home and auto insurance policies. You also need to meet these requirements with any other primary liability coverage policy that you carry. 

When you are shopping for umbrella insurance, you should have the details of your primary liability policies handy so that you can make sure that you are eligible for umbrella coverage. 

Consult With Us

Let us help you secure your financial future in Fillmore, NY with our umbrella insurance coverage at Walker and Associates Insurance Agencies Inc. Don’t wait—get a quote now so that you’re confident that you have all the coverage you need.

How Home Insurance Protects Your Home from Common Risks

Home insurance protects your home and personal belongings in the event of a covered risk. These perils can be included in the main policy, added in an addendum, or covered under an “all perils” policy. The agents at Walker and Associates Insurance Agencies Inc. are ready to review your existing coverage to help you understand any potential gaps. If you just bought a home or want to explore your options, we’d love to present additional choices for home insurance in Fillmore, NY.

What Is a Peril?

Peril is an insurance term that means risk or danger. Typically, it’s used to describe losses covered by your home insurance. This may include water damage, theft, fire, and weather events. Although every policy varies, you can also include living expenses, liability, and other coverage options.

In some cases, home insurance includes all perils except those excluded from the policy. Therefore, it’s crucial to understand the type of policy you have, what’s covered, and what’s not. If you live in an area vulnerable to windstorms, vandalism, or theft, for example, your agent might recommend additional coverage. If you have a home loan, your mortgage lender may require specific coverage as well.

The Specifics: Check Your Policy for This Coverage

Dwelling coverage is the heart of your policy and includes the house and attached structures, such as a garage. Meanwhile, other structures insurance handles damage to fences, sheds, and structures not attached to your dwelling.

Most homeowners’ policies reimburse you for losses associated with personal property, such as clothing, electronics, and furniture. Loss of use coverage pays for some expenses if you need home repairs.

Personal liability insurance protects you from legal claims involving damage or injuries suffered by others on your property. Medical payments insurance protects you from financial losses if someone who doesn’t live with you gets hurt on your property. Usually, it also covers injuries caused by your pets.

Talk to your agent regarding the potential risks versus the costs of additional home insurance. For example, flood, earthquake, and sewer backup policies pay for specific damages to your home.

We Can Help!

Contact Walker and Associates Insurance Agencies Inc. today to set up an appointment for a free home insurance quote in Fillmore, NY.

What does renters insurance cover?

Renters insurance is a type of insurance designed to provide protection for those who rent their homes here in the Fillmore, NY area. It provides coverage for personal belongings, liability, and additional living expenses if your rental is damaged or destroyed.

What does renters insurance cover?

Renters insurance from Walker and Associates Insurance Agencies Inc. typically covers losses due to fire, lightning, windstorms, hail, explosions, and smoke damage. It also typically covers vandalism or theft of personal property that occurs on the premises. In addition, some policies will cover additional living expenses if you are forced to move out of your rental due to an insured incident such as a fire or flood. 

One of the major benefits of renters insurance is that it provides liability coverage. This means that if someone sustains an injury while on your property, you are protected from having to pay out-of-pocket for medical bills or other related costs associated with the accident. 

Renters insurance is an important form of protection for anyone who rents their home as it provides coverage for personal belongings, liability, and additional living expenses in the event your rental is damaged or destroyed due to an insured incident such as a fire or flood. By having renters insurance in place, you can have peace of mind knowing that you’re covered in case something happens on your property.

We Are Here To Help

For more information, give us at Walker and Associates Insurance Agencies Inc. a call today. We are proud to serve the Fillmore, NY area and would be happy to help you find a renters insurance policy that meets both your needs and your budget. You will sleep better knowing that you are protected.