Does Your College Student Need Renters Insurance?

As a parent, several important considerations come into play when your child moves out to attend college. Depending on whether your child commutes to class from home or shifts to a dorm, apartment, or shared living space, you may need to think about renters insurance. Here’s an overview of why renters insurance is crucial and how ‘Dern & Company Insurance’ of Milwaukee, WI, can help.

Landlords Don’t Cover Student’s Personal Possessions

While a landlord may have insurance to shield their own property, they don’t insure the personal belongings of their tenants. It’s the tenant’s responsibility to secure their personal assets.

Renters Insurance Can Be a Lease Obligation

A growing number of property management firms and landlords are mandating tenants to carry renters’ insurance as part of the rental agreement. However, where to buy renters insurance lies within the tenant’s discretion.

Liability Claims Get Covered Under Renters Insurance

Renters insurance is not just about personal property; it also includes liability protection. The tenant (listed on the lease) could be held accountable if anyone gets hurt in a rental property.

Replace Lost Items Through Renters Insurance

Students may possess personal property worth thousands of dollars, from furniture to electronics to clothing. Renters’ insurance safeguards these items from losses stemming from vandalism, theft, fire, or other unexpected events.

Enjoy Added Perks

Renters insurance protects a tenant’s possessions at the rented property and while they are on the road – a hidden benefit worth considering.

Contact Dern & Company

At Dern & Company, our goal is to help families in the Milwaukee, WI area protect their interests through a diverse array of insurance products – including renters’ insurance. To learn more, give us a call at Dern & Company Insurance. We look forward to assisting you.

Does my boat insurance cover vandalism and theft in Milwaukee, WI?

Only commercial fishing boats are legally required to carry insurance in Milwaukee, WI. However, you may still want to consider adding this protection seriously. If you do not have boat insurance, you will not have protection from any boat-related incidents, including vandalism and theft. Dern & Company can help you explore policies to find one that best suits your needs.

Basic Boat Insurance

Most people who are considering boat insurance look at liability insurance first because that is where they have the highest risks. When you are out enjoying your boat, it can be challenging to remember that accidents happen and that people can get hurt. If your boat accidentally runs into someone else’s, liability insurance could protect you by covering the victim’s property damage and medical bills.

Coverage for Theft and Vandalism

There are several other kinds of protection you can get for your boat. One of the most important kinds of protection you can get is coverage if your boat is the victim of theft or vandalism. If you have an old boat with little value, you may not care, but if your boat is valuable, you should have this protection. Otherwise, you will have to repair or replace your boat on your own.

Contact Dern & Company for All Your Insurance Needs

Protecting your property is important. If you are involved in an accident with your boat, your other assets are at risk, too. If your boat is stolen and you have no insurance, you will need to pay out of pocket for a replacement. If you want to discuss different kinds of protection or compare policies, please contact Dern & Company in Milwaukee, WI, today.

Does my boat insurance cover vandalism and theft in Milwaukee, WI?

Only commercial fishing boats are legally required to carry insurance in Milwaukee, WI. However, you may still want to consider adding this protection seriously. If you do not have boat insurance, you will not have protection from any boat-related incidents, including vandalism and theft. Dern & Company can help you explore policies to find one that best suits your needs.

Basic Boat Insurance

Most people who are considering boat insurance look at liability insurance first because that is where they have the highest risks. When you are out enjoying your boat, it can be challenging to remember that accidents happen and that people can get hurt. If your boat accidentally runs into someone else’s, liability insurance could protect you by covering the victim’s property damage and medical bills.

Coverage for Theft and Vandalism

There are several other kinds of protection you can get for your boat. One of the most important kinds of protection you can get is coverage if your boat is the victim of theft or vandalism. If you have an old boat with little value, you may not care, but if your boat is valuable, you should have this protection. Otherwise, you will have to repair or replace your boat on your own.

Contact Dern & Company for All Your Insurance Needs

Protecting your property is important. If you are involved in an accident with your boat, your other assets are at risk, too. If your boat is stolen and you have no insurance, you will need to pay out of pocket for a replacement. If you want to discuss different kinds of protection or compare policies, please contact Dern & Company in Milwaukee, WI, today.

What Are The Risks Of Not Having Home Insurance?

Have you got a property and are now a homeowner? Congratulations, you are a lucky one! However, becoming a homeowner is also stressful and full of responsibility. Your home is probably your most valuable investment. That is why you want to protect it, and home insurance is one of the protection tools. Since home insurance is not mandatory in Milwaukee, WI, you may think skipping it is a good idea. But it is associated with numerous risks you should know about: 

  • You may face serious financial consequences. If you do not have home insurance, you are responsible for all the repairs and other costs related to your home. For instance, if your home is damaged in a hurricane, you will cover all the expenses out of pocket.
  • Facing liability is also a risk. Home insurance also aims to protect homeowners, not just their property and personal belongings. If you have home insurance, you can be safe that all the liability fees and medical expenses will be covered if, for example, your guest or visited jets injured on your property. However, if you do not have home insurance, you are on your own and will have to pay yourself. 
  • Not having peace of mind. You never know what tomorrow brings. With home insurance, you get peace of mind that you need to enjoy your life in your house. However, without home insurance, you will constantly worried that something might happen.

Home insurance is something that every homeowner should consider. Regardless of the home type you own, it would be best if you bought home insurance. If you are looking for home insurance and need help finding the perfect policy, Dern & Company is here to assist you. We at Dern & Company serve clients in Milwaukee, WI, and other towns. Please give us a call or visit our company website to learn more about home insurance. 

The Basics of Commercial Insurance: What Wisconsin Business Owners Need to Know

Many dream of being a business owner in the Milwaukee, WI, area. If you are starting or running a business here, you need to know and manage many vital facets. One crucial part is insurance. There are various aspects of commercial insurance that a business owner needs to know. 

Types of Insurance

When you build a commercial insurance plan, knowing the types of insurance available is important. You select a policy based on your business’s needs. Some of the kinds of insurance to consider include the following:

  • Liability insurance provides commercial liability coverage for a business. This offers coverage for bodily injury, property damage, and other injury claims against your company.
  • Property insurance offers coverage for all assets owned by your business. This includes protection for your place of business, inventory, and other assets against fire, theft, and other risks. 
  • Workers’ compensation offers coverage for your employees if they are injured while on the job. 

Requirements

It is also essential to assess your insurance requirements. Most businesses will be required by other entities to get insurance. This can include requirements set by lenders, real estate owners, investors, and other stakeholders. If you have employees, you may be required by the state of Wisconsin to carry worker’s compensation insurance. Following such requirements is important and will keep you in good standing. 

Anyone who plans to own a business in the Milwaukee, WI area should call our team at Dern & Company. We offer various services to help ensure you build a plan that meets your needs and protects your organization. 

Safeguarding Your Belongings: How Renters Insurance Covers Personal Property Loss

At the core of renters insurance policies is personal property coverage. This coverage in and around Milwaukee, WI serves as a cornerstone by protecting your possessions, including furniture, electronics, clothing, and other personal items, from various potential risks. Here’s how this coverage works:

  1. Protection Against Common Perils: Renters insurance offers protection against prevalent risks such as fire, smoke damage, vandalism, theft, and specific weather-related damage. If any of these events cause harm or destruction to your personal property, your renter’s insurance policy steps in to help you recover the value of your losses.
  2. Actual Cash Value vs. Replacement Cost: When insuring personal property, you can choose between two types of coverage: actual cash value (ACV) and replacement cost coverage. ACV coverage reimburses you for the present value of your items, considering depreciation. In contrast, replacement cost coverage covers the expense of replacing your belongings with new ones of similar kind and quality without accounting for depreciation. While ACV coverage is often more affordable, replacement cost coverage provides more substantial financial protection in the event of a loss.
  3. Off-Premises Coverage: Renters insurance doesn’t limit its protection to your rental unit alone. Possessions are covered even if what is stolen was not on the premises. This means that if your laptop is stolen from your vehicle or your luggage goes missing while you’re traveling, your renter’s insurance can assist in covering these losses.
  4. Customized Coverage Limits: Renters insurance policies are adaptable to your specific requirements. You can select the coverage limit for your personal property, ensuring ample protection according to the worth of your possessions. 

Dern & Company LLC Can Help You

At Dern & Company, we can help answer questions concerning renters insurance. We serve the Milwaukee, WI area. Contact us today.

Four important pieces of advice to follow before buying boat insurance

Boat owners need to make the right decisions when choosing their insurance coverage to protect them financially. At Dern & Company, we sell boat insurance in Milwaukee, WI.

The following are four essential pieces of advice that boat owners should follow when buying boat insurance. 

Research any boat insurance requirements you need to meet

Boat insurance is required in a variety of situations. Boat insurance is always required by lenders who provide financing for boat purchases. Many marinas also require boat insurance.

Ensure you are aware of any requirements you need to meet regarding boat insurance coverage. 

Know about coverage exclusions on your boat insurance policy

Boat insurance policies sometimes have policy exclusion on costs boat owners face due to maintenance-related issues or normal wear and tear.

Make sure you know about all the exclusions your policy includes so that you don’t face unpleasant surprises if you file a claim. 

Understand any navigational limits on your policy.

Any boat insurance policy will include some navigational limit. You won’t be covered if you take your boat outside these navigational limits. That’s why policyholders need to understand the navigational limitations their policy is subject to. 

Invest in any available safety equipment.

Taking boating safety measures and investing in safety equipment like alarms can help to minimize the chances that you’ll face high expenses and damages due to boat ownership.

You should research safety precautions and take such precautions whenever possible to prevent boat accidents whenever possible. 

Are you interested in learning more about boat insurance in Milwaukee, WI? Give us a call today at Dern & Company to get a quote on a boat insurance policy. 

Home Insurance and Home Renovations

Home renovations can breathe new life into a house, becoming a personalized haven in and around Milwaukee, WI. However, these transformative changes can significantly impact your home insurance coverage. As you embark on home renovations, it’s crucial to understand how alterations can affect your policy and take proactive steps to ensure that your coverage aligns with your home’s updated value and risks.

The Impact of Renovations on Insurance Coverage

Home renovations can impact insurance coverage in various ways:

  1. Change in Home Value: Renovations often increase the value of your home. The added square footage, upgraded features, or new additions can significantly raise your home’s worth, which calls for more coverage. 
  2. Alteration of Risk Factors: Renovations can introduce new risk factors. For example, adding a swimming pool, outdoor kitchen, or wood-burning fireplace could increase the risk of accidents or property damage. 

Updating Your Home Insurance Policy

To ensure your home insurance adequately covers your renovated property, consider the following steps:

  1. Notify Your Insurer: Discuss the scope of the renovation project and any changes that might affect your coverage needs.
  2. Reassess Your Coverage Limits: Work with your insurer to reevaluate your coverage limits based on the increased value of your home.
  3. Consider Additional Coverage: Depending on the nature of the renovations, you might need additional coverage, such as liability coverage for new structures or specialized coverage for valuable renovations.
  4. Review Deductibles: Discuss potential adjustments to deductibles to ensure they align with your new coverage needs.
  5. Document Changes: Keep detailed records of the renovation process, including receipts, invoices, and photographs, which are invaluable to claims.

Dern & Company Can Help You

At Dern & Company, we can answer all your questions concerning home insurance. We assist the Milwaukee, WI region. Contact us today.

Three things you need to know about commercial insurance

Business owners need to be informed about how commercial insurance works and what their commercial insurance needs are. At Dern & Company, we’re here to answer your questions about insuring your business in Milwaukee, WI.

The following are three things you need to know about commercial insurance. 

There are a lot of different types of commercial insurance available.

Business owners should understand all the different types of commercial insurance. Different companies need different types of coverage.

Every company can benefit from carrying commercial liability coverage. In addition, companies that rely on vehicles for commercial operations should carry commercial auto coverage. Companies with employees typically need workers’ compensation coverage.

Other types of coverage include errors and omissions insurance, business interruption insurance, and more.  

Commercial insurance is required by law in some situations.

Your company might be legally required to carry commercial insurance. This is especially true if your company employs staff members. Many states have laws requiring companies to carry workers’ compensation coverage if they have at least a certain number of employees. 

Commercial insurance can make it easier to be approved for business loans. 

One of the benefits of carrying commercial insurance that some business owners aren’t aware of is that insurance makes it easier to acquire financing.

Lenders generally require companies to carry commercial insurance before they approve them for business loans. You’ll probably find it easier to get capital if you insure your company when you need it. 

You can insure your business in Milwaukee, WI with Dern & Company. We are an insurance provider offering commercial policies to area business owners. Contact us today for a quote on a policy that will financially protect your company. 

How Do You Cover a Home Business with Renters Insurance?

When you rent and operate an online business, you need to protect your business interests with a home-based business rider added to your renter’s insurance. The rider provides financial protection to your computers, business inventory, office furniture, tools, etc.

Insuring Home-Based Businesses in Milwaukee, WI

At Dern & Company, we want your business to thrive, so we offer a full range of insurance options. That includes a rider for your home insurance that lets you insure a home-based business without purchasing a separate policy.

These riders protect your business in the same manner that a separate commercial policy does. Adding this type of coverage to your home insurance affords your home-based business liability coverage and property damage coverage. It doesn’t go as far as a business owner’s policy would, but most home businesses don’t need BOPs.

Coverage Needs Examples

Each person’s home business needs different levels of coverage. Here are a few quick examples of what we mean.

  • We suggest you increase your liability coverage if you host meetings at your home.
  • If you own a lot of expensive business equipment, such as a photographer, we suggest upping your property damage coverage.
  • If you store your inventory at home or craft the items you sell, such as a woodworker or many Etsy business owners do, we’ll suggest increasing the property damage component, too.
  • You’ll need commercial auto-added to your policy bundle if you drive your vehicle primarily for your home-based business, such as a baker or florist who delivers their creations.

We can help you determine which coverages your home-based business needs.

Contact Dern & Company Today

You can protect your Milwaukee, WI, home business under your home insurance. Ask your Dern & Company agent about adding business liability to your home insurance.