Why Do I Need Commercial Property Insurance?

Business owners in the Milwaukee, WI region are not mandated by law to purchase commercial property insurance, though many choose to do so to protect against financial loss. The only required insurances are workers’ compensation and commercial automobile insurance. 

Depending on the industry you work in, you may have machinery that is necessary to produce the items or services you provide. It’s important to estimate the value of replacing this equipment on top of any lost income that could result in the event of a catastrophe. Inventory is another important class of goods you may wish to keep insured. 

It’s important to remember that commercial property insurance also insures the contents within the four walls of a building if you rent or lease. Many landlords will require you to obtain this type of indemnification in their contract, as their insurance will not protect your possessions but only the edifice itself. Be sure to let your Dern & Company insurance representative answer these and any other specific questions you may have about property insurance. 

Your products can be subject to theft, as well as your machinery or the components you keep on hand, and vandalism can damage items, as can fires due to faulty wiring or arson. Smoke damage can devastate your wares, rendering you unable to sell them due to residual odor, and water from sprinkler systems can further ruin your tools and goods. 

Natural disasters can also affect your stock, including hail, heavy rain, tornadoes, and hurricanes. Lightning is another hazard that can damage electronics by overloading the power grid and surging through outlets. 

Let Us Help

Dern & Company exists to help Milwaukee, WI residents with their insurance needs. Let us be of assistance to you by reaching out via telephone, the internet, or visiting the office. 

Does My College Student Need Renter’s Insurance?

Renters’ insurance is not legally required in Milwaukee, WI, though a landlord often asks renters to obtain a policy. It’s something that many college students and their parents consider for the following reasons. 

It’s often the norm for college students to need expensive electronics to complete their studies. Young people also like to have a variety of gadgets with which to communicate and for recreation. These can add up to significant costs in the event they are damaged.

Fires can happen in kitchens with inexperienced cooks, and water damage can occur from sprinkler systems when activated. This can also put furniture, clothing items, and textbooks in peril. Smoke from fires will also ruin personal items if the incident is widespread and significant.

Theft can be an issue on a campus filled with young people, and a stolen backpack can contain computers and other vital devices. Other perils can include burst pipes due to freezing, falling objects, or electrical short circuits. 

It cannot be assumed that landlords or even schools will cover these expenses. Usually, the insurance that a landlord purchases will cover their property, as in the four walls, but not the contents contained within. Your Dern & Company representative can go over the details of what would be covered in your specific policy. 

There is also the issue of what can sometimes happen when someone is injured on your premises. Accidents can happen, and these often involve medical expenses. It’s also possible for incidents to escalate into lawsuits to recover lost wages and pay for personal damages. 

Dern & Company helps renters in Milwaukee, WI by tailoring indemnification sufficient for their needs. We invite you to stop by the office, visit us online, or call for more information. 

Four Key Areas Covered by Boat Insurance

If you own a boat, you probably cherish the good memories you make on the water. Nothing beats the cool breeze and warm sun on the water. But do you know that one incident can destroy your pricey boat and leave you bearing huge losses? Well, that should not be your case, as you can protect your vessel with boat insurance at Dern & Company if you live in Milwaukee, WI. Like auto insurance, boat insurance comes with different coverage that protects you in different situations. Let’s look at some of the areas covered by boat insurance.

  • Liability insurance: Liability coverage steps in when you damage another boat or cause injuries to someone in an accident you are at fault. The coverage pays for the damages, medical costs, or legal fees if you get sued.
  • Medical payment: Boat insurance also covers medical expenses for you and your passengers if injured in a boat accident. This way, you can focus on recovery without thinking about out-of-pocket medical expenses.
  • Property damage: Boat insurance covers your boat in the event of theft or damage due to an accident or sinking. The good thing about this coverage is that it covers your vessel in the water and on land.
  • Uninsured watercraft coverage: Wisconsin does not require boat owners to carry boat insurance. In that case, you will find many uninsured boaters on the water. If any uninsured boater hits your boat, the coverage protects you.

Boat insurance in Milwaukee, WI

Anyone who owns a boat will tell you it’s an expensive investment that requires proper insurance. In case of an unfortunate event, the cost of replacement or repair would amount to thousands of dollars, not to mention the hospital bills. Why wait until you are sorry to purchase boat insurance? If you are looking for boat insurance in Milwaukee, WI, look no further than Dern & Company. Contact us today for an affordable quote.

Does My Home Insurance Cover Water Damage In Milwaukee, WI?

Accidents happen around the home. Unfortunately, some result in medium to excessive damage that a homeowner may have difficulty paying. Typically, home insurance covers these issues. However, does it handle issues related to water damage in a Milwaukee, WI property?

Sudden and Accidental

According to Dern & Company, home policies cover water damage if it’s sudden and accidental. For instance, your water heater ruptures and drenches the basement drywall or a leaking upstairs water pipe could cause the ceiling to collapse. As a result, it damages the lower floor’s surfaces. 

The coverage amount depends on a few factors. One is the liability amounts selected when you purchased the home policy. Another is the estimated cost provided by the insurance adjuster. 

Flood Damage

On the one hand, flood damage is covered by your home policy if it’s the result of the aforementioned broken pipes or water heater. On the other hand, flooding due to natural disasters isn’t covered. Thus, you wouldn’t be protected if a nearby stream or river overflowed its banks. 

A separate flood policy is required to cover these damages to a Milwaukee, WI home. It isn’t mandatory if your property doesn’t reside near a flood plain. Conversely, mortgage companies won’t finance a flood-prone home if the buyer doesn’t purchase a related insurance policy.

There’s a lot to decipher to determine your needs. So, it’s best to reach out to a subject matter expert in the insurance field to get the correct answers. Not only can they tell you if you have the needed insurance, but they will also check if you require a flood policy.

If you need assistance, contact the representatives at Dern & Company to get started. 

Your Wisconsin Business Needs Commercial Liability Insurance

As a Milwaukee, WI business owner, you must ensure that you have the right insurance coverage to protect your company. One type of insurance that is essential for any business is commercial liability insurance. This type of insurance can help cover the costs of damages or injuries that occur because of your business operations.

What is Liability Coverage?

Liability coverage is insurance that helps protect your business from the financial costs of damages or injuries that occur because of your business operations. If someone is injured on your property or by one of your products, liability insurance can help cover the cost of their medical bills, lost wages, and other expenses. Liability insurance can also help cover the cost of legal fees if they sue you for damages.

Your Dern & Company insurance agent can help you choose the proper liability coverage for your business.

Why Do You Need Liability Coverage?

Many risks come with running a business, and liability insurance can help protect you from the financial consequences of these risks. This policy type offers protection from a variety of potential risks, including:

  • Bodily injuries: If someone is injured on your property or by one of your products, commercial liability insurance can help cover their medical bills and other expenses.
  • Property damage: If your business operations result in damage to someone else’s property, this policy can help pay for the repairs.
  • Legal fees: If you are sued for damages because of your business operations, commercial liability insurance can help pay for your legal fees.
  • Product liability: If you sell products, you could be held responsible if one of your products causes injuries or damages. Commercial liability insurance can help cover the cost of these claims.

Learn more about your business’s risks and how commercial liability insurance can help protect you by talking to your Dern & Company insurance agent.

I Don’t Own Anything Valuable, Do I Still Need Renters Insurance?

Renters insurance is meant to cover damage to your belongings during a rental, not to cover your belongings if they are stolen or damaged while in your possession. You probably don’t need renters insurance if you don’t own anything of value. If stranded in Milwaukee, WI, call Dern & Company.

What the Coverage Entails 

Renters’ insurance covers a variety of things regarding your belongings, such as the value of your belongings, liability, and loss of your rental due to a covered peril. You won’t qualify for a standard policy if you don’t own anything valuable. 

However, if you don’t own anything and still need renters insurance, there are still ways to get coverage. You can buy a policy that covers only a limited amount of money, such as $500, or one that covers specific items, such as your electronics. 

There is a misconception that only expensive items need to be insured. Anything you own can be stolen or damaged, and you should have insurance for every item. Renters insurance will protect your belongings if a guest damages them. 

It’s also an excellent way to protect your investment if something happens to your possessions while staying in an Airbnb. Even though you might not own anything of significant value, getting renters insurance is wise. 

It is vital to protect your belongings and your peace of mind. Protect your rental investment by protecting against unforeseen accidents and damages with renters insurance. If you don’t own anything of value, you may want to consider other types of insurance for your primary residence. 

While most property owners would consider it a good idea to have some insurance on their belongings, it may not be as necessary for renters. This is because renters do not own their home or anything inside it. 

Parting Words 

Renters insurance is a valuable asset that protects your rental investment. While you may not own a large mansion, you may still be covered for losses if there were to be a fire, tornado, earthquake, vandalism, or another disaster that damages your property. 

While many affordable options are available, choosing a policy that covers the right amount of money to protect your investment is essential. Do you need help in Milwaukee, WI? Visit Dern & Company.

Do boat insurance policies cover gadgets and appliances?

You also protect the items you take with you on a boating trip when you purchase a boat policy from Dern & Company to protect your boat or other watercraft on the lakes of Wisconsin and in transit to the lake on Milwaukee, WI roads. 

Do boat insurance policies cover gadgets and appliances?

Boat insurance policies contain more than one type of policy coverage, similar to how auto insurance provides options for full coverage or just property and bodily injury liability. Boat insurance lets you build your own policy, too.

When you add comprehensive and collision to your boat policy, you protect your property on the boat from essentially any even that could damage it, including theft. The comprehensive component of the insurance policy provides theft coverage. The collision coverage provides coverage for your personal property in cases of a single boat accident.

This type of coverage provides coverage for the radar system you install to catch bigger fish and the microwave you install in the galley to make it easier to cook the yummy fish you catch. You also receive coverage for the items you take with you on an outing on the boat.

For example, you pack an overnight bag with your laptop, cell phone, charger, and a change of clothing and take it with you on a weekend boat outing. You plan to sleep on the boat and cook meals in the galley. While you’re on the water on the second night, lightning strikes the boat while you had your electronics plugged in to charge. It fries everything electrical on the boat. Your comprehensive coverage pays for every item. You file a claim with us, and you get a check from your insurance company that pays you for a replacement laptop, cell phone, charger, radar system, and microwave.

Contact Dern & Company serving Milwaukee, WI to obtain boat insurance that protects your watercraft investment. Let us help you better protect your investment.

How Home Insurance Protects You

Homeownership can be expensive, but there are many costs that you won’t have to handle if you have a home insurance policy. These policies protect you financially against paying for expensive issues that may happen to your home. It’s essential to keep home insurance as long as you own your house. Call us now at Dern & Company in Milwaukee, WI if you need this insurance.

Coverage for Your Home

Home insurance offers coverage that protects your home against damage caused by a covered incident. These may be certain disasters and calamities as well as other incidents. When something happens that destroys the house or causes it damage, the policy will pay for the repairs that are needed for rebuilding if that is necessary. Without this coverage, the money for those repairs would come from your pocket. 

Possessions Protection

Another way that home insurance protects you is by protecting your possessions against damage and ruin. When something happens to or in your home that ruins your belongings, the policy can pay to replace them. If you think about the value of everything located in just one room, you soon see how much all of your belongings throughout the house are worth. This amount would be challenging for most people to come up with after a damaging incident, so having this insurance coverage is vital. 

Financial Protection for Liability

If someone outside your household were to get injured in an accident while on your property, you are likely to be held liable. This would mean that the medical bills were yours to pay. Home insurance protects you by paying those bills for you. 

Cover Your Home

If you need home insurance, call us today at Dern & Company in Milwaukee, WI.

What comes with a commercial insurance plan in Wisconsin?

In the Milwaukee, WI area, there is a lot of opportunity for success as a small business owner. While you can enjoy a lot of benefits with owning a business here, you do need to ensure that your organization remains appropriately covered with insurance. If you invest in a commercial insurance plan, you will receive several benefits and forms of insurance coverage. 

Liability Risk Mitigation

One of the advantages of commercial insurance is that it can help to mitigate your liability risk. There is a lot of risk that comes with owning a business, one of which is the risk that you could cause an accident or injury to another party. If this happens, you will be responsible for covering any financial damages. When you invest in a commercial insurance plan, you will get the support needed to help mitigate your risk of liability. 

Protect Core Assets

Any business today will need to ensure that their important assets are protected and covered with insurance. If you have a commercial insurance plan, a part of the policy will cover these assets. This can ensure you are able to replace the assets if you incur a covered loss, which can include fire damage, theft, or vandalism. This can help ensure you have the capacity to replace these important assets. 

It is clearly a good idea to get a commercial insurance plan when you are in the Milwaukee, WI area. If you are looking for this insurance coverage here, calling the team with Dern & Company can be beneficial. The team with Dern & Company understands the importance of this coverage and will provide any guidance that you need to build your next policy. This can ensure both you and your business are appropriately covered with a quality plan.

Why Home Insurance Is Important For Everyone

Owning a home is an ideal achievement for residents residing within Milwaukee, WI, with numerous aspiring to retire in their properties during the later stages of their lives. Getting the benefits of this will, however, require you to get the ideal insurance, with a homeowner’s policy being an ideal place to start. Below, Dern & Company discusses some of the benefits that come with signing up for home insurance.

Protect Your Home

Hazards can occur at any time, with risks such as fire and hail damage likely to damage your property when they arise. Home insurance ensures that your home is protected from such incidences, with the right policy helping you fix your home to its previous state. Other perils that you can get protection from include vandalism and electrical faults.

Keeps Your Belongings Secure

One of the features that home insurance provides is content coverage for keeping your possessions safe. If perils such as hail damage your clothing, electronics or furniture, you can expect compensation for repairing or replacing these items. Take note that expensive possessions such as jewelry will not be covered and will often require additional coverage.

Covers Detached Structures

Home insurance will also protect detached structures such as garages or sheds when hazards occur, allowing you to keep various assets secure. Homeowners’ policies will also enable policy seekers to get customized coverage for additional structures purchased or built later on. With this, you get significant protection from numerous assets such as dog shelters and fences where possible.

Provides Liability Coverage

Liability coverage will be essential to have in your home insurance, with this feature allowing you to avoid any financial and legal problems. If, for instance, your guests get injured or their property gets damaged during a visit to your home, your policy will help you pay for the ensuing medical and property damage costs.

If you are looking for a way to enjoy any of the above benefits of home insurance, consider reaching out to Dern & Company today. Our Milwaukee, WI agents will help you figure out the ideal coverage to get for your property.