ACA Case Studies

ACA Case Studies

 

Did you know the deadline to sign up for January 1st, 2014 coverage in an Affordable Care Act (ACA) plan is December 23rd 2013? If not, you may also be unaware that MHG, a full-service insurance brokerage, is one of the select few brokerages in South Florida that is certified and ready to help clients understand and enroll on the Exchange. We can help you find the ideal plan, one that not only offers you the coverage you need, but is also in your budget. In fact, we have helped many clients find the ACA plan that is right for them, in addition to hearing incredible success stories. 

Here are just a few we want to share with you:  

Real-life Example 1 – This is one of our favorite examples! Our client was paying over $1,600 per month (out-of-pocket) for insurance for herself and her son. Her renewal rate was about to skyrocket to over $2,000 per month. She was faced with limited options, as she has several pre-existing conditions and would be turned down by other insurance carriers if she applied. After reviewing and selecting the right ACA plan, she is now receiving a better plan at a more affordable price – less than $800 per month for her and her son! Her coinsurance remained the same, but her office copays and annual out-of-pocket maximum is less, thanks to this ACA plan. 

Real-life Example 2 – A recent client allowed his insurance plan to lapse over a year ago. Unfortunately, he suffered a stroke shortly after and had no success when trying to apply for other insurance policies because of this pre-existing condition. A stroke falls under automatic decline for insurance until 2014. Starting this past October, we have been able to provide him with quotes for plans that have a January 1st, 2014 effective date. Now, with his new insurance plan, he will not have an exclusion because of the stroke and will not have to wait for treatment related to the stroke. 

Real-life Example 3 - Several employees on our group plans have been able to add their adult children onto their plans since 2010, when specific aspects of the Affordable Care Act went into effect. It no longer mattered if these children were unmarried or students. For many employees who had other children on the plan already, it did not increase their monthly premium. 

Real-Life Example 4 – A recent client of ours was inquiring about purchasing health insurance after finding out she was pregnant. The best solution we could offer her was waiting for a January 2014 effective date with an ACA plan. She did not meet the requirements for Medicaid due to her income and assets. Now, thanks to the Affordable Care Act, she is eligible for coverage, with maternity, starting in January 2014. 

As you can see, many of our clients are benefiting in incredible ways thanks to plans made available through the Affordable Care Act. If you have questions about an ACA plan, or want to review your existing coverage, do not hesitate to call one of our knowledgeable insurance representatives. We can offer you information and guidance regarding the Affordable Care Act and can help you enroll in a plan. Remember, the deadline for January 1, 2014 coverage is December 23rd, so do not delay. Let MHG, one of South Florida’s few certified ACA brokerages, help you find a plan tailored to your health needs and financial situation. Visit mhginsurance.com for more information on ACA plans or call us today at 954-828-1819.

ACA Case Studies

ACA Health Coverage

 

There are many questions today regarding the state of things as it pertains to health care coverage in the United States, and the Affordable Care Act has been a major focus when it comes to health insurance. MHG Insurance Brokers is an approved ACA insurance brokerage, and we would like to educate our clients about the Affordable Care Act and the health plans that have been created under it. The goal of MHG Insurance Brokers is to put our clients in an informed position so they are able to define their family’s coverage needs, as well as choose an appropriate health plan that would deliver the greatest benefit to them.  

Common myths and questions exist about the ACA Health Insurance plans. An example of one myth that MHG Insurance Brokers’ Insurance Specialists have come across relates to out-of-pocket obligations:

  • “The Bronze plans have a sizeable out of pocket obligation that must be met by its subscribers.”

The fact is that the maximum out of pocket is $6,250 for individuals, and $12,500 for families. The 2014 cost sharing limits for individuals ($6,350), and for families ($12,700), will change each year. Small group plans and grandfathered plans have different cost sharing limits. All metallic plans - Bronze, Silver, Gold or Platinum - follow the same limits, but each differ in the percentages that the insured pays until those limits are met.

A common question regarding ACA Health Insurance plans:

  • Who qualifies for catastrophic coverage?

Individuals who are under 30 years of age and can prove financial hardship may qualify for this coverage. However, many other notable, affordable coverage options are available presently. 

MHG Insurance Brokers has many years of experience, the best industry resources, and access to a multitude of insurance carriers. MHG is proud to offer clients the best, most comprehensive plans on the market. When you work with one of MHG Insurance Brokers’ insurance specialists, he or she can provide you with detailed information about the following:

  • ACA Exchange coverage plans and the plan types available
  • Dental and Vision coverage
  • Life Insurance
  • Long Term Care coverage
  • Supplemental medical coverage
  • Medicare plans
  • AFLAC plans

MHG Insurance Brokers will be happy to discuss your insurance coverage needs, and then determine which plans would be the best fit for you and your budget. The insurance specialist that you work with will assist you with deciphering all of the confusing terminology, and he or she will also examine the features of each plan with you to help you understand the benefits. Once you have chosen a plan, MHG Insurance Brokers will continue to remain available for you any time you have a question about your policy or need assistance with a claim. 

Thanks to the Affordable Care Act, millions of Americans who were previously uninsurable due to preexisting conditions, or not meeting the qualifications for Medicaid or Medicare, will now have access to solid, comprehensive health insurance plans. They will be able to take better control of their health, and live longer, healthier lives. Let MHG Insurance Brokers take the journey to better health with you; call to speak with a knowledgeable insurance specialist, and learn the facts about health care coverage and how the ACA can benefit you. Call 954-828-1819, or visit MHG Insurance Brokers online at https://mhginsurance.com. Here’s to your better health!

Affordable Care Act Health Coverage: Dispelling the Myths and Providing Facts and Information that May Benefit You

Health Insurance Terms 

 

MHG Insurance Brokers strives to provide our clients with the best service and the most viable information regarding insurance policies and services currently available on the market. We want our clients to be able to make informed decisions about their healthcare, as well as become familiar with what their own insurance needs are. This can be a challenging task, however, as the insurance industry has practically established its very own language which includes a myriad of terms and confusing industry related jargon. 

Below are commonly used health insurance terms, clearly defined to make it easier for you to apply this information when you review your current policy, or when you are considering making changes to your existing plan. As always, MHG is available at any time to discuss any questions you may have regarding your existing plan, or to examine these terms in more depth:

  • Deductible: A deductible is a fixed dollar amount during the benefit period, usually a year, which an insured person pays before the insurer begins to make payments for covered medical services. Plans may have individual and family deductibles. Some plans may have separate deductibles for specific services, such as a deductible for each hospitalization admission.

  • Coinsurance: A form of medical cost sharing in a health insurance plan that requires an insured person to pay a stated percentage of medical expenses after the deductible (if any) has been paid. Once the deductible and/or coinsurance have been paid, the insurer is responsible for the rest of the reimbursement for covered benefits.

  • Copay: A form of medical cost sharing in a health insurance plan that requires an insured person to pay a fixed dollar amount when a medical service is received. The insurer is then responsible for the rest of the reimbursement.

  • Out of Pocket Maximum: This is the maximum dollar amount a group member (the insured) is required to pay out of pocket during a benefit year.  Until the maximum is met, the plan and group member share in the cost of covered expenses.

  • In/Out of Network or Participating Provider: Your health plan contracts with a wide range of participating doctors, specialists, hospitals, pharmacies, and labs. These providers have agreed to accept your plan’s contracted rate as payment in full for services. The contracted rate includes both your insurer’s and your share (deductible, copay, coinsurance) of the cost. For those with out of network benefits, services from a provider who is outside of this network are not based on agreed upon or set contracted rates with your insurer, and therefore the services may be subject to higher charges. This may result in you paying more out of pocket for the difference owed between what the provider is charging and what your plan will cover.

  • HMO: HMO stands for Health Maintenance Organization. It is defined as a health care system that assumes both the financial risks associated with providing comprehensive medical services (insurance and service risk) and the responsibility for health care delivery in a particular geographic area to HMO members, usually in return for a fixed, prepaid fee. Financial risk may be shared with the providers participating in the HMO. There are different types of HMOs, including a Group Model HMO which contracts with a single multi-specialty medical group that provides coverage to the HMO’s membership. There is a Staff Model HMO where patients can receive services only through a limited number of providers, in which physicians are employees of the HMO, usually operating within the HMO’s own facilities. There is also a Network Model HMO that contracts with multiple physician groups to provide services to HMO members. Finally, an Individual Practice Association HMO is a type of health care provider organization composed of a group of independent practicing physicians who maintain their own offices and band together for the purpose of contracting their services to HMO’s.

  • POS: A POS plan is an HMO/PPO hybrid; sometimes referred to as an open-ended HMO when offered by an HMO. POS plans resemble HMOs for in-network services. Services received outside of the network are usually reimbursed based on a fee schedule, or what is considered to be reasonable and customary charges.

  • PPO: A PPO plan is an indemnity plan where coverage is provided to participants through a network of selected health care providers, such as hospitals and physicians. The enrollees may go outside of the network for services, but would incur larger costs in the form of deductibles, higher coinsurance rates, or non-discounted charges from the providers.

  • COBRA: COBRA stands for the landmark Consolidated Budget Reconciliation Act of 1986. This law provides the continuation of group health coverage that would otherwise be terminated for a former employee, retirees, spouse’s former spouses and dependent children. The coverage is available when coverage is lost due to certain specific events, such as voluntary or involuntary termination of employment, reduction of the number of hours worked by the employee, covered employees becoming entitled to Medicare, or divorce or death of a covered employee. However, in most cases, the insured person must continue to pay his or her portion of the insurance premium as well as the portion that was previously being paid by the employer in order to maintain coverage.

MHG Insurance Brokers wants you to understand health insurance terminology that can often be confusing and overwhelming. We welcome your feedback and any questions you may have. You may contact MHG at 954-828-1819, or by visiting us at mhginsurance.com.  Here’s to your good health!

Commonly Used Health Insurance Terms

Reasons to Buy Life Insurance No one wants to think about the unforeseen loss of a spouse or loved one.  Just the thought of losing someone you love brings up unpleasant, emotional feelings. However, taking the time and making a small investment to plan for such an event – whether it be that of your own passing or that of a spouse - is not only necessary, but it is one of the most generous, loving gestures you can make for those you love. Here are the ten reasons why everyone should consider purchasing life insurance:    

  1. Protect those you love. Your loved ones will be able to go on financially and without the stress and worry of how they’re going to pay the bills. Your children’s future will be solidified, allowing them to attend college, while your spouse will have the means to continue paying the mortgage and stay in your family’s home.

  2. Peace of mind. Are you the top income earner in your household? When you obtain life insurance, you will no longer have to worry what will happen to your family in the event of your death or if you become terminally ill – at which time life insurance becomes practically impossible to acquire.

  3. Life insurance creates options. Often, when a loved one who was the top income provider of the family passes, survivors are forced to make quick, important financial decisions during a very tough, emotionally charged time.

  4. Life insurance has more than one purpose. Your policy is a valuable asset that can provide a specified sum of money at a time when it is needed most. You can choose a Life insurance plan that is an annuity – which will actually supplement your retirement income with a guaranteed monthly stream of income once you retire for as long as you live.

  5. You never know what can happen. In the event of an emergency or abrupt onset of terminal illness, you may be able to request a withdrawal or loan from your policy for a much needed cash infusion to keep your household running smoothly.

  6. Death shouldn’t equal debt. Debt can be a tremendous burden for anyone, but it is especially difficult to deal with for those who are grief stricken.

  7. Take care of your business. Life insurance doesn’t just protect individuals. It can protect a business from financial loss, liabilities, or instability in the event of the death of a business owner or partner.  It can be invaluable in providing an infusion of cash to keep operations going until things settle down.

  8. Funerals are expensive. A funeral can cost anywhere from $7,000 to $10,000 – and that is just for an average, “no-frills” burial. Life insurance can cover this cost without further financial hardship and stress for your loved ones.

  9. It makes financial sense. Life insurance is considered a financial asset, which can help increase your credit and help you get a loan or health insurance.

  10. Give to charity. Life insurance will allow you to leave a meaningful gift to a favorite cause or charity that is larger than you would have been able to set aside for a donation.

Obtaining life insurance ensures financial stability for those left behind in the event of an unforeseen tragedy, as well as providing cash in times of need. Contact MHG Insurance Brokers to learn more about obtaining life insurance and the different types of policies available by calling 954-828-1819, or visiting online at mhginsurance.com. Let us help you begin the preparations today to protect the ones you love most.

Top Ten Reasons to Buy Life Insurance

Fort Lauderdale, FL – July 30, 2013 – As the latest company to join the IGY Anchor Club as Partners, MHG Insurance Brokers has further expanded its reach in the superyacht business sector. The IGY Anchor Club provides its partners the opportunity to reach IGY customers all over the network in 7 countries and 13 marinas with relevant messaging of top goods and services within the industry. 

 

MHG and IGY’s interests to meet its customers’ needs are one and the same, and those aligned interests have culminated in a partnership to reach the IGY network through its Anchor Club. MHG’s goal is to relay the importance of all types of insurances, but particularly health, life and disability insurance for yacht captains and crew. 

“Captains and crew are exposed to hazards that could seriously affect their short and long term financial goals.” says Clayton Swart, Manager of Business Development for MHG. “In addition, given the recent changes in Health Care Reform and the Maritime Labour Convention (MLC 2006), we want to take this opportunity to reach out to captains and crew who have concerns and questions as well as to simply pass along what we know to those that do not.”

The company has formed MHG University with which it plans to educate captains and crew on the changes that have recently taken place and how best to approach those changes on an individual basis. With its unique experience and detailed knowledge, MHG will channel its insight through the IGY Anchor Club, where it will open its proverbial doors to any questions regarding healthcare and insurance decision-making. 

To kick start the program, MHG’s first avenue of communication to those who would like to learn more about the reforms or anything insurance-related, is by contacting Clayton. MHG encourages any and all who would like to learn more, to write directly with their insurance or reform questions or concerns to: Clayton Swart Manager, Business Development T: 954 383 3635 mhginsurance.com 

ABOUT MHG Insurance Brokers

MHG Insurance Brokers is a full-service insurance brokerage, assisting clients with crew insurance, life and health insurance, MLC 2006 and health care reform guidance, employee benefits solutions and business insurance.  With over 20 years of industry experience and access to multiple US and international carriers, our insurance specialists can advise which insurance and financial services providers and products are best suited to address the needs of employers as well as individuals. We are committed to providing our clients with the highest level of advice and support in order to deliver solutions that offer the best scope, service and value. With a team of over 30 employees, MHG has offices in Fort Lauderdale, the Isle of Man and Hamburg as well as representation on the Cote d’Azur. For more information about MHG Insurance Brokers, please visit mhginsurance.com

ABOUT IGY 

With yachting destinations spanning the Americas, IGY has redefined the luxury marina experience. Founded in 2005, IGY focuses on acquiring, managing, and servicing luxury-yacht marinas and lifestyle destinations. Headquartered in Fort Lauderdale, Florida, IGY also has offices in New York, NY and St. Thomas, USVI. Island Global Yachting marinas operate under the signature Yacht Haven Grande Collection and the IGY series brands, as well as several private labels. IGY’s network of properties is setting new standards for service and quality in nautical tourism throughout the world. The company now offers an unprecedented collection of 13 marinas in the Caribbean, Pacific and the Americas, all catering to a variety of vessel types including sportfishers, cruisers, sailing & motor yachts, as well as being exclusive home ports for some of the world’s largest megayachts. IGY also participates in 10 of the world’s biggest and best sportfishing tournaments, making our marinas in Cabo San Lucas, Cancun, St. Thomas USVI, Turks & Caicos, Panama and Palmas Del Mar, Puerto Rico highly sought-after angler destinations. IGY is an affiliate of Island Capital Group LLC, a real estate merchant banking firm led and founded by Andrew Farkas, former chairman of Insignia Financial Group. For more information, please visit www.igymarinas.com.

MHG Insurance Brokers Becomes the Newest Partner in the IGY Anchor Club

Regulatory Changes Affect Captains And CrewIt is often said that, “The only constant in life is change.” This statement could not be more appropriate with the changes that are happening regarding health insurance and the superyacht industry. Between Health Care Reform and the Maritime Labour Convention, 2006 (MLC) coming into effect soon, now is the time for yacht captains and crew to learn about regulatory changes taking place and how they can best protect themselves. 

 

Mark Bononi, MHG Insurance Brokers’ Yacht Division Director, is featured in this month’s issue of Dockwalk, the premier magazine for superyacht captains and crew. He speaks candidly about this specific issue and offers pertinent advice for those in the industry. For starters, let us begin with the MLC, which will be going into effect on August 20, 2013. If you have assumed the MLC will make the vessel owner responsible to take care of all your health and medical insurance needs, this is simply not the case. 

The MLC is basically designed as a minimum standard for the commercial shipping world and does not mean individual yacht crewmembers will be adequately protected. Bononi shares that the MLC going into effect really does not change much regarding coverage. He explains that the “MLC states that each vessel owner is liable for crew medical costs.” However, the MLC does not spell this out clearly, stating the yacht owner must provide “financial security” to cover death, repatriation or long-term disability costs. Bononi then asks, how will this “financial security” be proven? It will most likely be subject to interpretation by each individual port state inspector. Proof might come in the form of providing health insurance, or having money in an escrow account, or in another manner…either way, it is not clearly stated. 

In addition, many insurance policies offered by a yacht owner do not include all-encompassing health care for yacht crewmembers. Bononi stresses the point that this is where the responsibility ultimately falls on the crewmember to make sure their medical and health insurance needs are met, and how a separate medical policy can offer added protection and peace of mind. When it comes to Health Care Reform, Americans who work as yacht crewmembers are currently playing the waiting game. Do not assume that not residing in the U.S. the majority of the year removes your requirement to pay for health insurance or be subject to a tax. Currently, the rules around residency and time periods for residing outside of the U.S. are vague at best. This makes it difficult for yacht crewmembers to plan for their health insurance needs. 

Staying in contact with an experienced yacht insurance broker, such as MHG, is imperative, as they will keep abreast of all regulatory changes that are happening regarding the MLC and Health Care Reform. Bononi states that it really boils down to each individual crew member getting adequate coverage for themselves that meets their specific needs, even if this comes in the form of an additional policy over what the yacht owner provides. 

His other important piece of advice is not to wait: “Health insurance only gets more expensive the older you get, so getting on board early with a comprehensive health policy can help with future costs.” Bononi’s full interview is available in the August issue of Dockwalk magazine. 

If you are a yacht crewmember seeking to learn more about health insurance options available to you, call MHG today and let a skilled representative explain more regarding the MLC and Health Care Reform. MHG Insurance Brokers can also provide you with numerous quotes from top-rated insurance companies who offer policies that meet your budget and individual needs. Call MHG today at 954-828-1819 or learn more by visiting www.MHGInsurance.com

How Upcoming Regulatory Changes Might Affect Captains and Crew

Renters Insurance If you are a renter, you have probably considered purchasing renters insurance. While you may have concerns about adding another insurance policy to your budget, renters insurance is more affordable and important than you may think. Imagine coming home and finding your apartment or rental has been gutted by a fire, or perhaps burglarized. Most renters incorrectly assume their items would be covered under the homeowner’s insurance policy. This is only true if any damage that occurs is due to neglect of the landlord. If the robbery or fire were not technically due to landlord negligence, then their insurance policy would only cover the physical structure of the property and not any of your personal belongings inside. If you were in fact the victim of a robbery or fire, would you financially be able to recoup everything you have lost? For most people, this would cause a serious financial and emotional strain. 

 

There is one way, however, to protect yourself – by purchasing a renters insurance policy with the proper level of coverage for your lifestyle and belongings. MHG Insurance Brokers has helped people find the proper rental insurance policy that fits their needs and budget. Most people are surprised to learn just how cheap renters insurance is, considering how valuable the policy can be if the situation arises. Many policies range as little as 10 dollars per month, depending on the area you live and the amount of coverage you desire. 

Our skilled insurance brokers can explain to you the details of a standard renters insurance policy. Depending on your personal situation, there are also insurance add-ons that can supplement the standard policy. These add-ons usually have an additional cost and include:

  • Full-replacement Cost Coverage – Your standard insurance policy will pay you the cash value of the items lost; this “cash value” is calculated by the price you paid minus any depreciation. If you want to be compensated for the actual cost to replace these items (in today’s value), then ask an MHG broker about supplementing with Full-replacement Cost Coverage.

  • Floods and Earthquakes – Most standard renters and homeowners insurance policies will not cover flood or earthquake damage. If you live in a zone where these types of natural disasters are common, you may want to consider an additional policy to cover your belongings.

For less than the price of a daily cup of coffee, arming yourself with the proper level of renters insurance can offer you peace of mind when it comes to the valuable property you have worked so hard to obtain. Let one of our experienced and knowledgeable brokers help you determine what level of coverage you need and present you with quotes from top-rated insurance companies. Don’t lose your belongings to an unexpected fire or burglary. Protection is easy and very affordable with the right renters insurance policy. Call MHG today at 954-828-1819 to learn more. You can also visit us at mhginsurance.com

Why Renters Insurance is Important

Swimming Pool Safety Tips

Swimming Pool SafetySummer time is highly anticipated by everyone, especially children. It means playtime outdoors, quality family time, and swimming in the pool with friends. For those of us that have swimming pools in our backyards, we know it is a great source of exercise and fun. However, it is also a big responsibility.


It is critical that any pool owner take appropriate measures to safeguard their swimming pool, and to make swimming pool safety a priority in order to avoid injuries or accidents. Swimming pool accidents can occur quickly and with no warning. According to the CDC (Center for Disease Control and Prevention), drowning is a leading cause of accidental death for children ages 0 to 14. 

Below is a list of important safety precautions for parents and pool owners to follow to ensure the safety of everyone swimming this summer:

  • Fencing – Appropriate pool fencing reduces the risk of drowning by more than half. The fence needs to be four-sided,  four feet high, and set up to completely barricade the pool. It needs to be secure with a lock that is out of a child’s reach. All stepladders need to be removed from the pool area completely when the pool is not in use.

  • Get a Pool Alarm – Pool alarms will alert you if someone simply enters the perimeter of the pool, or if they happen to jump or fall into the pool.

  • Learn CPR – Knowing how to perform CPR can not only save a drowning victim’s life, but it can dramatically affect the outcome of their recovery, even preventing possible brain damage.

  • Swimming Lessons – Children who cannot swim should not be permitted near a swimming pool. The American Academy of Pediatrics supports swimming lessons as early as age one. Children can attend a certified swimming class as early as age four. Parents should always accompany children who are under four years of age near a pool. Rescue equipment, life jackets and floatation devices should be located near the pool, and any inexperienced swimmers should use a life jacket.

  • Adult Supervision – There is no substitute for an observant adult who is present poolside while children are swimming. It is common for swimmers to develop cramps while in the pool, and for head injuries to occur when jumping in the pool.

  • Review your insurance policy – Make sure you have adequate liability coverage in your existing Homeowners policy, and check whether the coverage protects those who may possibly sustain an injury while in the pool.  Protect yourself as well as those who use your pool.

MHG Insurance Brokers wants to ensure that our clients have a safe and enjoyable summer. If you have questions about whether you need additional liability coverage that will include your guests when they use your swimming pool, feel free to contact MHG today.  You can discuss insurance options with one of our experienced brokers by calling 954 – 828 – 1819, or by visiting mhginsurance.com.  MHG Insurance Brokers will help you determine if you need further protection.  Have a great summer and be safe!

Swimming Pool Safety Tips

Commercial Auto PolicyCar accidents happen every day and as a business owner, you need to make sure you have the proper insurance coverage in place to protect you, your employees, your assets and get you back on the road as quickly as possible. How do you know if you need a Commercial Auto policy? As a rule of thumb, if the vehicle is used primarily for business purposes or is titled in the company’s name, you should have a Commercial Auto policy regardless if you lease or own the vehicle. 

 

Commercial auto insurance policies exist not only for commercial vehicles such as semis, dump trucks, emergency vehicles and taxis, where it is apparent that business is being conducted in and out of these types of vehicles every day. 

Here are several other situations in which a commercial auto insurance policy is the appropriate policy to secure for your vehicle – situations where a personal policy will not provide adequate coverage in the event of an accident:

  • If you use your personal vehicle for day-to-day business, such as a delivery person or courier.

  • For vehicles that are rented or leased and primarily used for or while conducting business.

  • If you are a realtor, have a similar job where you consistently travel in your personal vehicle for work to go on sales calls, or to transport clients or coworkers.

  • If you provide your personal vehicle to another person to use as a means of compensation or to utilize when running errands or picking up supplies on your behalf, such as a personal assistant or nanny.

These are situations where a commercial auto insurance policy is necessary, so that in the unfortunate event of an accident, your vehicle will be covered for damages. This policy also provides coverage for any other authorized drivers or passengers traveling in your vehicle who sustain injuries or medical costs incurred because of an accident. 

A personal auto insurance policy would not adequately provide coverage in these instances, due to the nature in which the vehicle is being used, which is for business purposes. Commercial auto insurance policies can also play a key role in protecting your business. A type of liability coverage that can be built into your commercial policy serves to protect your business from monetary judgments in a case where your employee gets involved in an accident while conducting business for your company, even if he is driving his own vehicle. This type of liability coverage can protect your business from serious financial jeopardy. 

 The differences between personal and commercial auto insurance policies are not always clear-cut and easy to understand. That is why it is vital to work with an experienced, knowledgeable, independent insurance brokerage. MHG Insurance Brokers is dedicated to providing its clients with the most comprehensive coverage available on the market, tailored to accommodate the clients’ needs, at the most competitive rates. Call MHG Insurance Brokers today for assistance in evaluating your auto insurance needs with one of our brokers at 954-828-1819, or visit mhginsurance.com.  

Rest easy knowing that MHG Insurance Brokers will help you protect yourself and your business with the proper commercial auto insurance policy.

Do I Need a Commercial Auto Policy?

Hurricane Season Preparation Hurricane season begins June 1st and runs through November 30th each year on the Atlantic coast. The National Weather Service (NOAA) releases its predictions for the season on May 23rd, but forecasters from Colorado State University are expecting a season with above-average storm activity, estimating that there will be 18 tropical storms, nine of which will be hurricanes, and four of those to be major hurricanes. 

 

Floridians know that in order to get through Hurricane season smoothly, it is important to be properly prepared. In addition to NOAA’s website, which offers an informative and helpful Hurricane Preparedness Guide, here are some important tips that are worth mentioning, as well as some that often are overlooked:

  • Have an evacuation plan and know the local routes. Share it with your family.
  • While stocking up on food and water supplies, remember to purchase a First Aid kit as well.
  • Keep important documents in a waterproof bag or case and move it to a place that you can access easily.
  • Learn the elevation of your property, and whether the land is prone to flooding.
  • Find out if there is a SPHA for the area you live in – Special Flood Hazard Designation.
  • Make arrangements for your pets, in case evacuation becomes necessary.
  • Make plans to secure your property in the event of an evacuation.
  • Take pictures of your home, inside and out.
  • Check over your insurance policies.

Not sure what you should be looking for when reviewing your insurance policies? First, become familiar with policy coverage amounts and deductibles so that you can be prepared in the event you have to file a claim. Also, what does the policy cover? 

Home owners’ insurance in Florida does not cover flood claims. You should purchase a Flood Insurance policy to protect your home from flooding due to heavy rains and storm surge. Storm surge is water that is pushed toward the shoreline by wind force during a storm. Combined with normal tides, water levels rise and can cause catastrophic damage to coastlines and beyond by eroding beaches and roadways. Only a few inches of water in your home can cost thousands in repair costs and restoration. 

Having a comprehensive Flood Insurance policy is vital to recovering from a devastating hurricane. Even renters may purchase a policy to cover the contents of their home. There are two types of Flood Insurance policies available to you that can be purchased separately – Contents and Structure Only. 

MHG Insurance Brokers are well-informed about what policies are currently being offered and are able to provide you with the most comprehensive Flood Insurance policy backed by the U.S. Government. Visit MHG online today at mhginsurance.com or call at 954 -828-1819 and speak with a member of our team to get better prepared this Hurricane Season.

Preparing For Hurricane Season – What Homeowners Need to Know about Flood Insurance