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1836 Hermitage Blvd, Suite 100
Tallahassee, FL 32308

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Condo Insurance FAQs

If you own a condo in Tallahassee, FL, you must be aware of condo insurance. But do you understand how this insurance works? Do you know what it covers? For answers to these and many other questions, keep reading as Fuqua Insurance Agency shares responses to frequently asked questions about condo insurance.

What is condo insurance?

Condo insurance is an individual coverage for condo owners that covers the interior of your condo against damage. Depending on your condo owner’s association (COA) coverage, your condo insurance covers the interior walls, appliances, and other personal properties. 

But am I not covered by COA master policy?

Most condo owners are often confused about why they need condo insurance, yet their condo is covered by a COA master policy. Well, your COA’s master policy covers damage to the exterior of your building, including areas such as the lobby, elevator, tennis court, and other common areas. Besides, COA covers injuries to guests occurring in common areas such as the swimming pool. However, the COA master policy doesn’t cover damage or loss to your condo’s interior and its contents. 

What does condo insurance cover? 

While condo insurance may differ from one insurance company to another, typical condo insurance covers the below:

  • Dwelling coverage: Protects your building interior against perils like theft, vandalism, fire, and other covered risks.
  • Personal belongings: Covers personal assets like furniture, clothing, and electronics against loss or damage.
  • Liability coverage: Condo insurance provides bodily injury and property damage coverage, including legal fees coverage for injuries or damages you cause to other people. 
  • Additional living expenses (ALE) coverage: Provides coverage when your condo becomes unlivable. It pays for extra living expenses like hotel meals and accommodation after seeking temporal shelter as your condo is undergoing repairs. 

Are you shopping for condo insurance in Tallahassee, FL? At Fuqua Insurance Agency, we understand condo owners’ insurance needs differ. As such, instead of providing a one-size-fits-all condo insurance plan, we offer personalized insurance coverage to answer your specific needs. Contact us today for a competitive quote.

When will having boat insurance be helpful in Florida?

In the Tallahassee, FL area, a great way to enjoy the long summer months is by investing in your very own boat. If you would like to buy a boat, you will want to know that it is properly covered with insurance. Having boat insurance will be helpful in several situations. It can also help you meet certain requirements too.

When Involved in an Accident

The first scenario in which you will be glad that you have boat insurance is when you are involved in an accident. If you are at fault in a boat accident, the liability insurance component of your insurance plan will mitigate this risk and cover damages that the other party has experienced. With a full insurance plan, you will also have the coverage needed to repair your boat as well. 

When Trying to Comply with Requirements

You will also benefit from having a boat insurance plan when you want to comply with various requirements. Anyone that would like to own a boat and use it could have different insurance requirements. If you have financed the purchase of the boat with a loan, you will be required to carry this coverage until you pay off the balance. You may also be required to carry coverage to use certain marinas with insurance requirements for all owners. 

Boat owners in the Tallahassee, FL area will usually need to have an insurance plan. If you are looking for a new policy in this area, it would be good to call Fuqua Insurance Agency. When you contact the Fuqua Insurance Agency, you will get the professional help you need when looking for insurance. We can provide the support that you need to build and purchase a new insurance plan. 

When Is Minimum Insurance Recommended?

When it comes to car insurance in Tallahassee, FL, you never want to drive with less than the minimum legal required amount, and you usually want to drive with full coverage. But there may be instances where you don’t really need any more than the legal minimum.

Rule of Thumb

The simplest way to determine if you need full coverage is to consider this rule of thumb: If one year’s premium payments come out to more than the car’s current value, you might as well drop everything but liability and any medical policies you’re holding.

With a new car, collision and comprehensive are a must. And you’ll probably want gap insurance and replacement coverage, too. But once you hit that 250k mile marker on the odometer and you’re not sure if your car even has another year left in it, all of those other policies will wind up costing you more than they’ll ever payout.

It can be hard to accept when your car is past its prime, but you can’t insure it for its sentimental value, only for the cold hard cash you’d get if you were to sell it.

You never want to drive with less coverage than you need, but you don’t want to pay more than your car is worth to protect its value, either.

If you have any questions or if you’re looking to get covered in Tallahassee, FL, get in touch with the Fuqua Insurance Agency. You can call or visit the Fuqua Insurance Agency website in order to get a quote on the insurance you need, whether that’s just the basics or a full package.

Do I need umbrella insurance in Florida?

People that live in the Tallahassee, FL area have many insurance needs. For many residents, this includes getting home and auto insurance, which protects valuable assets and offers liability protection. When you are in Florida, getting an umbrella insurance plan is also beneficial as it can offer extended liability protection. There are a few reasons why people should get umbrella coverage. 

You Want Coverage for Big Claims

A situation when it could be a good idea to get umbrella insurance is when you are concerned about large liability claims. If you are ever at fault in an accident that results in major damages, the liability claim could exceed your home or auto policy. Fortunately, you can also get an umbrella insurance plan which will provide you with coverage on top of your other insurance plan in place. 

You Want Coverage for Unexpected Situations

You will also need to get an umbrella plan if you are concerned about the unexpected. While it is possible to predict certain liability risks and insure against them, there are other risks out there that are harder to predict and present serious liability risks. A great way to mitigate these risks is by getting an umbrella plan as it offers more blanket coverage that can cover a wide range of risks that could result in a personal liability claim.

Having proper insurance in Tallahassee, FL is important. As you build a personal insurance plan and are thinking about umbrella coverage, you should call the Fuqua Insurance Agency. The insurance professionals with the Fuqua Insurance Agency understand the importance of this coverage. They can then give you the support needed to choose a plan that is right for your situation. 

5 Reasons Florida Homeowners Need Flood Insurance

Florida is well known for its tropical storms and hurricanes that can cause extensive flooding. This puts Florida homeowners at risk of flood damage. With flood insurance from Fuqua Insurance Agency, you can safeguard your home and valuables against flood disasters. Here are a few good reasons to consider purchasing flood coverage for your Tallahassee, FL home.

Home Insurance Doesn’t Cover Flood Damage.

Home insurance covers flooding due to broken pipes or other plumbing issues. It doesn’t, however, cover floods from rising rivers or ocean surges. Without proper flood protection, you risk losing all you own to a flood disaster.

Floods Can Occur Anywhere

Floods aren’t restricted to flood zones in Tallahassee, FL. They can occur anywhere, even in low-risk flood areas. For this reason, it’s important to protect yourself with flood coverage.

Flood Damage is Catastrophic

It doesn’t take a large flood to cause disastrous damage. Even a few inches of water can leave behind tens of thousands of dollars’ worth of damages. Unless you have the funds to repair or replace your home or goods on your own, you will do well to protect your property with flood insurance.

You Can’t Depend on Federal Assistance.

Federal assistance is only offered for flood areas that are declared federal disasters. This aid comes in the form of loans that need to be repaid, meaning you’ll still suffer financial loss. In contrast, flood insurance compensates you for your loss, saving you thousands of dollars or more out of pocket.

Peace of Mind

Flood insurance is for any Florida homeowner who wants peace of mind that their home and goods are protected against the risk of flooding. By purchasing flood coverage now, you can be prepared when flood disasters strike.

To purchase your flood policy, contact Fuqua Insurance Agency, serving residents in Tallahassee, FL.

 

What protection does condo insurance offer?

Tallahassee is a trendy place to call home. As the capital of Florida, condos are in high demand. Insuring a condo is not precisely like insuring a free-standing home. Before you invest in condo insurance, talk to an independent insurance agent that you trust to steer you in the right direction. At Fuqua Insurance Agency in Tallahassee, FL, we care about you, and we will give you the benefit of our years of insurance experience. 

With condo insurance, you don’t need to insure the outside of the building. The condo association has a master policy that covers the exterior and common areas. Familiarize yourself with the master policy. It is important to know where the association insurance ends, and yours needs to begin.  

Property coverage

While you don’t need to insure the exterior of your condo, you need to cover the walls-in. This means things like the kitchen cabinets, a fireplace, bathrooms, and fixtures. If you have done any upgrades, be sure these are reflected in the price the insurance company will pay you to restore the interior if it is damaged. 

Contents

Everyone has a lot more possessions than they realize. You can choose replacement cost or actual value. Replacement cost is more expensive, but it means what it sounds like, you won’t get the depreciated value of your 10-year-old washer. You will get the amount you need to buy a new one. 

Liability

If someone is injured while visiting your condo or by a member of your family, liability coverage will protect your assets and help pay any legal fees and a judgment against you. 

Loss of use

If your condo is damaged and you can’t live there for a while, this will help pay for a place to stay. 

Contact Fuqua Insurance Agency in Tallahassee, FL for all of your insurance needs. 

What are the benefits of getting life insurance?

When you are in the Tallahassee, FL area, there will be many different types of insurance that you need to have. One type of insurance that you need to spend time carefully considering is life insurance. For those that are in this area of Florida, several benefits come with life insurance that could make it a great investment for you.

Coverage Provides Protection for Dependants

The primary benefit of life insurance is that it can provide you with protection for your dependents. If there are people in your life that depend on your income, you will want to make sure that they are covered financially if you were to pass away. When you choose a new life insurance policy, you can pick one with a term length and coverage level that provides protection and peace of mind.

Good Investment Option

It would help if you also considered a life insurance policy because it can be a good investment option. When you get a whole life insurance policy, some of your payments will go into an account that will grow with interest over time. Eventually, you will be able to liquidate this account or post it as collateral for a loan. 

There are clearly many advantages that come when you get a life insurance policy in the Tallahassee, FL area. If you are shopping for this insurance here, you may find that picking a policy is confusing and challenging. To ensure that you get into the best policy possible, you should speak with the Fuqua Insurance Agency team. When you are going to call the Fuqua Insurance Agency, you will learn more about your options, which will help you choose the right policy for your business. 

Three auto insurance mistakes to avoid

You need to select the right auto insurance coverage for financial security while driving in Tallahassee, FL. At Fuqua Insurance Agency, we can help with that. We provide Florida auto insurance policies.

You need to do your research and choose carefully when selecting auto insurance coverage. The following are three auto insurance mistakes to avoid when purchasing a policy.

Purchasing only enough coverage for state requirements

It’s true that your auto insurance policy is going to need to meet some state minimums in terms of liability coverage. However, that doesn’t mean that all your policy needs to do is meet these basic minimum requirements.

Meeting state liability coverage requirements will allow you to drive legally. However, it doesn’t mean that you’ll be financially secure. You could get in a costly accident that costs you much more than your policy will cover. This could create huge financial problems for you down the road. 

Choosing a policy with a high deductible

High deductible policies offer the advantage of having lower monthly premiums. However, paying a large deductible might not be possible for you if you get in an accident.

Ensure your deductible amount isn’t so high that it will be a financial burden to pay if you get in an accident and need to file a claim. 

Not looking into policy features.

There are a lot of auto insurance policy features that it’s beneficial to have. Two prime examples are roadside coverage and rental car coverage. These features can make things much more convenient for you if your vehicle breaks down or if your vehicle is involved in an accident and needs to spend a few days in the shop. 

Do you have questions about auto insurance in Tallahassee, FL? We can help you to find the answers you’re looking for. Contact us at Fuqua Insurance Agency today to learn more. 

A Look At Some Common Insurance Myths

For over 40 years, Fuqua Insurance Agency has helped the Tallahassee, FL community find the insurance coverage that they need to enjoy comfortable lives. We take pride in helping all of our clients find the right policies for their individual situations.

Florida is a state where many business owners have the opportunity to thrive. If you are an entrepreneur, commercial insurance allows you to protect your investment. Commercial insurance protects your business if your property is vandalized or damaged due to a fire or natural disaster. All of your equipment is covered if it is stolen.

Common Commercial Insurance Myths

People Don’t Need It If They Have Home Insurance

Many people assume that their home insurance policy also covers the physical property that they use for their business. This is incorrect. While you may amend your home insurance policy to cover some aspects of your business, the only way to fully protect your business is through commercial insurance.

Workers Compensation Isn’t Necessary For A Small Business.

This is not necessarily true. Whether you are obligated to have workers’ compensation depends not only on the size of your business but on local laws and regulations. The industry that your business is operating in is another factor that must be considered. That’s why it’s vital that you thoroughly research a policy before you agree to it.

Auto Insurance Covers Business Vehicles

In some cases, auto insurance does not cover personal vehicles that are used for professional endeavors. To ensure complete coverage on every vehicle that is used for business-related endeavors, consider commercial insurance.

Consult With Fuqua Insurance Agency

We will sit down with you and discuss your commercial insurance options so that your business can continue to thrive. Please stop by our office in Tallahassee, FL today!

Home Insurance Facts Florida Residents Should Be Aware Of

Based out of Tallahassee, FL, Fuqua Insurance Agency assists Florida residents by offering different insurance policies. For over 40 years, we have strived to provide excellent customer service to our clients and help them find the insurance coverage that they need.  

Fuqua Insurance Agency recognizes your home is one of your most valuable possessions. A home insurance policy can help you adequately protect your investment.

Basic Home Insurance Facts That You Should Be Aware Of

Replacement Coverage

If your belongings are damaged or stolen, your policy should include coverage that allows you to replace or repair the items.

Maintenance Is Important

Make sure that your property is in good shape. That can help you receive a better rate from insurance companies.

Liability Coverage Includes Your Pets In Some Cases

If your dog bites someone on your property, you are generally protected through liability coverage. However, you may need to add a separate policy if you have a special breed of dogs like a Cane Corso, Great Dane, Doberman pinscher, or a boxer.

National Disasters Are Covered

Florida is prone to natural disasters such as hurricanes. If your home is damaged due to a natural disaster such as a tornado or hurricane, the policy will cover it. However, you may need to amend your policy to include flood protection.

Your Items Are Covered When You Travel

If you are traveling on vacation and someone breaks into your home while you are away and steals your property, your items are still covered under your policy.

Fuqua Insurance Agency Can Help You

We will help you find the right home insurance policy for your needs. Please stop by our office in Tallahassee, FL, and consult with us today!

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