Benefits of Rental Dwelling Insurance

When you decide to rent out your Harrisburg, PA home, you need an insurance policy that will protect you from every possible scenario you may face, including liability claims, damages, theft, loss of income, etc. Rental dwelling insurance treats your property as a business; therefore, it provides extra protection that standard homeowners/renters insurance cannot cover. Since every rental situation is different, Henderson Insurance Agency offers customized rental dwelling insurance policies that suit every client’s needs.
Rental dwelling insurance covers most of the risks covered by the standard home insurance. However, it offers extra liability coverage and caters for loss of income. Some of the benefits of rental dwelling insurance include:
Protecting Your Investment
When you decide to rent your property, you are putting part of your investment in the hands of others. Rental dwelling insurance assures you that your investment is protected from any unknown risks.
Continuous Source of Income
If your tenant breaks the rental agreement and stops paying rent, this policy will ensure you continue receiving rent. It also covers loss of income as you wait for your property to be repaired from a covered loss.
Quick Repairs to your Property
In case of damages from a covered risk, this policy will cater for all the necessary cost of repair/replacement, including all the expenses that you may incur during this process such as additional costs of living.
Flexible Payment Options
You may decide to rent your property either for a short or long period of time. Rental dwelling insurance offers flexible payment options that will fit every budget and need.
You never know what might happen during the time a tenant stays on your property. Talk to an agent at Henderson Insurance Agency to help you understand what risks your Harrisburg, PA property may face. For more information on rental dwelling insurance, contact us today.

Do I Really Need Renters Insurance?

Simply put, yes!  Renters insurance has a low-cost premium, but should something happen, the coverage for your personal possessions can be significant to you.  Most mortgage lenders require homeowners to obtain homeowners insurance to protect their investment in the property should it be damaged or destroyed.  While renters do not have the responsibility for a physical structure where they live, they do have valuables and personal items they need to protect.  Even if your landlord does not require a proof of renter’s insurances, it’s wise to consider obtaining the coverage.  The team at Henderson Insurance Agency works with renters in the Harrisburg, PA area to get quality coverage.  There are a variety of options available, so they will work with you to find the policy that meets your situation.  

While renters’ insurance covers the contents of your apartment, there are additional benefits to retaining appropriate coverage.  For instance, if there is an event where you are unable to stay in your apartment for a time, some policies provide funds to cover hotel and meal expenses until you are able to return.   The policy will cover items that are damaged or destroyed in the apartment, but some policies will go further and provide coverage for the same item if it is damaged outside of the home.  For instance, if your laptop is stolen from the library, it may still be covered under your renters’ insurance policy.  Lastly, personal liability insurance is also available through a renters’ insurance policy.  This covers any damages or injuries to another person who is visiting your apartment.  

The agents at Henderson Insurance Agency know the wide variety of renters’ insurance policies available in the marketplace today.  They work with renters in the Harrisburg, PA area to get the best coverage.  Call today!

FEMA Flood Maps Have a Big Impact on Rebuilding

Being right next to the ocean, Harrisburg, PA is prone to be drenched once in a while. And, depending on where one’s home is situated in town, that can be mean flooding of a property. A key factor to keep in mind for any neighborhood that has exposure to the water line or nearby creeks and rivers is the Federal Emergency Management Agency or FEMA. This federal entity is a key player in creating flood maps for communities and regions by which flood insurance and rates are then calculated for residential and commercial properties.

In recent years FEMA has been reevaluating its flood maps and changing risk ratings. That, in turn, can cause big changes to how coverage is assessed or create restrictions on any new value building in the area. For existing homeowners in Harrisburg, PA this might not seem like a problem. However, if a FEMA map reevaluation is put into play, it could limit the ability to rebuild a home if for example it was damaged by a house fire. According to cases the staff at Henderson Insurance Agency have seen nationally, the FEMA building restriction is not just on new buildings and properties; it can affect the rebuilding of existing ones as well over a certain dollar value. And that can be quite a surprise and shock after a home damage problem occurs and one is assuming it will be rebuilt to status quo with home insurance.

To find out if your home is affected by FEMA map reevaluation activity or sits in a flood zone per FEMA mapping, talk with the folks at Henderson Insurance Agency. Their expert staff can walk through the intricacies of how the mapping process works and how it translates to coverage. Give them a call to find out more.

How to Determine How Much Condo Insurance Coverage You Need

So you have purchased the condo that you have had your eye on or you have been living there for some time and just want to know how to best protect your investment. The one thing that people always think about is getting condo insurance for their condo in Harrisburg, PA but the problem is that they are never sure how much coverage they actually need. This can be confusing if you do not work with insurance frequently like we do here at Henderson Insurance Agency so use the below tips to make sure you have the right amount of coverage. 

First, you want to make sure that you at least have enough coverage that is equal to the value of the condo. However, as you likely know, the value of a condo can fluctuate with the market and you want to make sure that you always have the right amount of coverage. To do this, we recommend getting a little bit extra in terms of coverage for the value of the property. We also recommend that you take a look at the value of the condo every few years to make sure you have the proper amount of coverage. You may also want to look at it when the market is hot or when it is cold to make sure you are properly covered in case the value went up. 

If you do not have condo insurance currently for your condo or you are not sure if you have the right amount, be sure to reach out to us here at Henderson Insurance Agency, serving Harrisburg, PA, so we can help you. We can take a look at your current coverage or even get you a free quote for coverage. 

Is Renters Insurance Required in Pennsylvania?

The Oregon housing market is booming, and with this comes increasingly stringent laws on both renters and landlords. As a person renting a house or apartment in the Harrisburg, PA area, you may have already heard of renters insurance. But is it required in Pennsylvania? Well, the answer is actually more complicated than it may appear. Henderson Insurance Agency offers renters insurance in the Astoria area, as well as important advice on this subject. Here’s what you need to know:

Renters Insurance is Not Required Under State Law, But That Doesn’t Mean It Isn’t Mandatory

Sound confusing? At face value, it is. But the most simple explanation for this is that while the state does not legally require it, landlords and property management companies certainly can. So, you must talk with your potential landlord and read the lease agreement closely before signing to know what you are personally required to do. In most cases where renters insurance is required, it is just as a means of protecting the property value, the renter, the landlord and any adjoining neighbors in the event of severe damage or events like a fire. 

Landlords Must Still Adhere to Legal Restrictions When Mandating Renters Insurance

Landlords do not have all the power here. For example, they cannot just come up with minimum coverage requirements that renters are unable to afford. In Pennsylvania, the coverage amount may not exceed the amount that other rentals in the area with similar values are insured for, or simply $100,000 (this is per occurrence), whichever amount ends up being higher. Landlords must also let rental applicants know in writing before the lease is signed that they intend to require a renters insurance policy. If the lease is already in effect, it is possible for the landlord to amend it to require renters insurance, but they must give the tenant at least 30 days notice. 

If you are a tenant or a landlord in the Harrisburg, PA area and wish to learn more about renters insurance, contact Henderson Insurance Agency today. 

Is Renters Insurance Similar to Homeowners Insurance?

Just like a homeowner, a renter or landlord will likely want to have insurance to cover their assets and liabilities. What may not be so obvious is the difference in coverage between the two types of plans in Harrisburg, PA. This article will go over the similarities and what to expect with purchasing renters insurance. If you are in the market for something affordable, Henderson Insurance Agency is worth consulting with.

As expected, renters insurance is designed for occupants of a property that they do not own. The main difference to consider is that homeowners insurance centers around covering the actual structure while renters insurance has a focus on what goes on inside with the tenants. Keep in mind, while the owner is likely to have homeowners insurance, the renter will need their own renter’s insurance to cover themselves. Since the renter has much less to cover than the owner, this type of insurance is significantly cheaper than homeowner’s insurance.

Personal property is always covered by renters insurance but there are always limitations. For example, an insurance policy may specify the limitations of losses of collectibles or jewelry up to a certain dollar amount. Things like fixtures, furniture, and damage to indoor plumbing may also be included in some policies.

Now that you know the difference between these two forms of insurance, you may make an informed purchase. It is not obligatory to have renters insurance in Harrisburg, PA, but it is always a good idea if you invested a significant amount in the belongings that you keep in your rental property. If you would like to get a quote, consider Henderson Insurance Agency to see if they have a price that is right for you.

Do I need to have life insurance in Harrisburg, PA?

Life insurance is not something that is something legally required in the state of Pennsylvania, but it is essential if you are supporting a family. Think of it as a replacement for your income if you die and are the breadwinner for the household. If you are looking around for a good deal on life insurance in the Harrisburg, PA area, consider giving Henderson Insurance Agency a call.

There are different types of life insurance plans that you can consider. With whole life insurance, you may keep your assets covered for your entire lifespan until death. With term life insurance, you may keep yourself covered within a specified time frame. Endowment life insurance will pay out if you reach a certain age so that you do not have to wait for death.

Is it a good idea to keep life insurance after your kids become adults?

If you are still with your dependent spouse long after the kids move away, it may still be a good idea to keep the life insurance plan. If your spouse would otherwise depend on a modest social security check with few assets left behind, the payout from life insurance can be life-saving. Of course, you must assess the costs and the assets being left behind in your current situation.

In most cases, families will want the primary income earner to have life insurance in case of the unexpected. Life insurance has a lot of variances depending on your current living situation so things must be assessed carefully. If you are interested in a decent life insurance policy, consider checking the rates with Henderson Insurance Agency.

Personal Auto or Commercial Auto Insurance?

As a small business owner, you may own a personal vehicle that’s used quite a bit for business purposes. If that’s the case, you may need commercial auto insurance protection to safeguard your business in the event of an accident. Your personal auto insurance policy may not cover accidents that occur when using your vehicle for your Harrisburg, PA business. By consulting with an agent from Henderson Insurance Agency, you can get a better understanding of what kind of insurance you need.

When deciding between personal auto and commercial auto insurance, consider the following:  

If your car is registered under the name of your business, you need commercial coverage. Business vehicles are often used more extensively than personal vehicles, making them at greater risk of accidents. Commercial insurance will ensure you have adequate liability and property damage protection to meet your business needs.

If you regularly use your personal vehicle for work purposes, you may need commercial coverage, even if the car is registered in your name. Many small business owners use their personal vehicle to visit clients, transport business supplies or equipment, make deliveries or haul commercial goods. These are some of the criteria for commercial auto coverage.

Personal auto policies provide coverage when using your vehicle for personal use. If you have an accident when using your car for business purposes, your insurer may not honor your claim, leaving you to foot the bills.

Commercial auto insurance offers greater liability coverage to protect business interests in the event of accidents. If you’re using a personal vehicle for business purposes, you’ll need adequate coverage to protect your business from serious accidents and the risk of lawsuits.    

If you’re not sure what kind of car insurance you need, give us a call at Henderson Insurance Agency, Harrisburg, PA. We can help you select the policy best suited to your needs.

Frequently Asked Questions About Contractors Insurance

If you do any work as a contractor, it is highly recommended that you purchase contractors insurance. However, here at Henderson Insurance Agency, serving the greater Harrisburg, PA area, we have found that many contractors are unaware of this type of insurance. Here are a couple of the questions you may have about contractors insurance. 

What is Contractors Insurance?

No one is perfect. If you make mistakes as a contractor, you may cause additional damage to a home, which can add up to a lot of money. Contractors insurance helps to cover you in the event that you make mistakes that cause damage to a home or building, ensuring these mistakes do not financially destroy you. 

When Should You Purchase Contractors Insurance?

It is strongly recommended that anyone who is doing any contract work purchase contractors insurance. Even those who are working under the table can be sued if they make a mistake. This type of insurance helps to cover you regardless of whether you are a handyman doing small projects or a large contractor taking on full remodeling projects. 

Are You Legally Required to Carry Contractors Insurance?

In Pennsylvania, you are required to carry contractors insurance, liability insurance or have a bond if you are a licensed contractor. However, if you are not licensed or are completing projects that do not require you to carry a license for, you are not legally required to carry contractors insurance. 

If you are doing work as a contractor, now is the right time to look into purchasing a contractors insurance policy. Contact Henderson Insurance Agency, serving the greater Harrisburg, PA area, to get answers to any additional questions you may have or to buy a policy today. 

Do Family-Owned Businesses Need Workers Compensation Insurance?

Workers compensation insurance laws are confusing for many small business owners. This leaves many people wondering whether they need to carry insurance or not. Here at Henderson Insurance Agency, serving the greater Harrisburg, PA area, we love to answer insurance questions for potential clients and existing customers. If you have a family-owned business, one of the questions you may have is whether or not you even need workers compensation insurance. Here is the answer to this question. 

The easiest way to determine whether you need workers compensation insurance or not is to ask yourself if you have any employees. If you have employees other than yourself, your spouse and/or any business partners, you are required to carry workers compensation insurance on those employees. It does not matter if you only have one employee, whether you are a family-owned business or if your business is profitable. As long as you have one or more employees, the laws are very clear that you are required to carry workers compensation insurance. 

Here at Henderson Insurance Agency, serving the greater Harrisburg, PA area, we know that the laws related to workers compensation insurance can be hard to follow and are murky at times. This is why we are here to help you. Whether you have questions about workers compensation insurance or are looking for a new policy, we can help. Give us a call today and let us discuss your workers compensation needs with you and help you determine whether you need a policy or not. If you do need a policy, we can help you find the right one for your needs.