How Much Commercial Insurance Do I Need?

Every business faces unique risks. Commercial insurance comes to your rescue when faced with different risks, from employee injuries, liability claims to errors in professional services. But how much insurance do you need? The reality is that there is no definite answer to help you determine the amount of commercial insurance sufficient for your business. However, as you will find from Gallina and Sons of Pittsburgh, PA, there are tips and tricks you can follow to see the amount of commercial insurance you need.

How much commercial insurance is sufficient for my business?

How much commercial insurance is adequate — not too low and not too much. It depends on the nature and size of your business. Here is a guide to help you determine the amount of business insurance needed:

  • Property insurance: Before drawing the check, ask yourself. What’s the value of my business assets? Ideally, the amount of commercial insurance should be equivalent to the cost of replacing your assets. Also, bear in mind your lender’s requirements if your assets are mortgage financed.
  • Worker’s comp insurance: The amount of worker’s comp insurance needed largely depends on the size of the workforce. The more employees, the higher the amount of coverage required.  
  • Liability coverage: This is usually tricky. However, deciding the amount required starts by evaluating the risk profile of your business. But before investing in liability insurance, you should ensure that your workplace safety measures follow best practices to reduce the number of claims. Also, establish the existence of any state minimums — you shouldn’t stick to these. They just act as a foundation on which to build on your coverage.

Figuring the amount of insurance needed for a business needs the help of an experienced insurance agent. So if you are in Pittsburgh, PA and its environs, please partner with Gallina and Sons for all your commercial insurance needs.

Condo Association Insurance Protects Your Investment

Condo insurance is something that all condo owners need to protect themselves. This policy type will ensure that your investment doesn’t go up in smoke if disaster strikes. At Gallina and Sons, we can teach Pittsburgh, PA, about the different options available for their needs. Here’s what you need to know about these policies.

How Condo Insurance Protects You

Typically, your condo owner’s association possesses what is known as a master policy. This helps to cover things like the structure of the condo, the built-in fixtures, and much more. However, this policy does not cover your belongings, which is why an individual condo insurance policy is so important. 

These types of policies are known as HO-6 insurance and are designed to protect what you own. In a sense, they’re similar to a traditional homeowner’s insurance policy. However, they focus on condo owners and cover their unique needs. A good condo policy will pay for:

  • Replacing personal belongings, such as your clothes or furniture 
  • Liability situations, such as injuries to you, your family, or those inside your home 
  • Addition Living Expenses (ALE) you might incur while waiting for condo repairs 
  • Some types of perils, such as fires, extreme weather, and theft 

As you might expect, your condo policy may not cover things like earthquakes and floods. That said, you may find alternative coverage plans that do. These extra coverage options typically get added to your current policy and reflect a unique level of protection you can’t get otherwise. 

Coverage is Available for You 

At Gallina and Sons, we can set up policies for Pittsburgh, PA, residents that will help ensure a higher quality of life. Talk to us today to learn more about your options and learn more about the diverse coverage range available for you.

Gallina and Sons discusses commercial insurance in Pittsburgh, PA

Gallina and Sons understand your small business is "big" to you.

That’s why the agency wants to help make sure your investment is protected. Serving, Pittsburgh PA, their agents explain what commercial insurance is and why it’s so critical for your growing business.

What is commercial insurance?

In short, commercial insurance protects your business. Also called business insurance, these plans protect companies, corporations, and entities against lawsuits, vandalism, theft, injury, damage, and other unexpected events. While at work, any employees are included as well. Commercial insurance minimizes risk and safeguards against potentially costly incidents.

What’s included in commercial insurance?

Although every plan is unique, most commercial insurance policies have similar features. Any coverage has premiums, which is the amount a business pays for the policy. Several factors influence this price, including work performed, amount of employees, and years of service. When you file a claim, you will also pay a deductible. These too can vary. Any plan will spell out limits, which cap payouts after a certain amount. This likely also contains other exclusions and restrictions.

What types of commercial insurance are available?

Any plan can be customized to fit your needs. However, standard commercial insurance policies cover three primary areas. Property insurance protects a physical location of a business and any equipment. This extends to tools, inventory, and office furniture. Liability coverage shields against bodily injury, slander, libel, and other damages. Lastly, income insurance reimburses your business if an incident causes any loss of revenue. A professional agent will be able to add additional options to meet your unique needs.

Contact an agent serving Pittsburgh, PA

Gallina and Sons can find the ideal commercial insurance policy to protect your business and its interests. Call to set up an appointment today.

Condo Association Insurance FAQs

If you own a condo, you need to learn a thing or two about condo insurance. Since condo insurance confuses many, Gallina and Sons of Pittsburgh, PA has prepared a FAQs section to answer commonly asked questions about condo insurance.

Isn’t my condo covered by condo owners association (COA) policy?

While it’s true your condo has COA coverage; this insurance plan protects the exterior of your condo and liabilities occurring in common areas like the lobby and swimming pool. For any liabilities or damages happening inside your condo, that’s where condo insurance comes into play.

What does condo insurance cover?

Investing in condo insurance is a worthwhile pursuit because this coverage protects you in many areas. Condo insurance covers:

  • The interior of your condo
  • Additional living expenses when a covered risk damages your condo
  • You against liability claims
  • Your assets, including furniture, clothing, and electronics

Does condo insurance cover personal injury?

If you have condo liability coverage, it covers bodily injuries inflicted by you or your family members to other people. However, if you or your family members incur personal injuries, condo insurance doesn’t cover these.

What else isn’t covered by my condo insurance?

While condo insurance is pivotal in protecting you against various perils, it has exclusions. Typical condo insurance doesn’t cover damage from:

  • Floods
  • Earthquakes
  • Wind and hurricane
  • Sewer backup

The good news is that you can purchase “riders” to get protection for the above risks. To note also is that for high-value items like jewelry, you get limited protection from condo insurance. However, you can buy an endorsement to boost your coverage.

Where can I purchase condo insurance?

Ready to invest in condo insurance? Would you please look no further than Gallina and Sons for condo insurance if you are in Pittsburgh, PA, and the nearby areas?

Who Needs Commercial Insurance?

If you are a business owner, having commercial insurance is one of the key aspects of running your business. It does not matter whether high risks occur in your business or not, having commercial insurance is important. If you are thinking of getting commercial insurance but are still not sure if it is necessary, Gallina and Sons serving clients in Pittsburgh, PA and the Pittsburgh area prepared a list of those who will definitely benefit from this type of insurance.

Business Owners Who Own Properties

If you have commercial or personal property, you will definitely benefit from commercial insurance. A standard commercial insurance policy usually covers a commercial building itself, as well as all the items and belongings stored inside. Moreover, it is important to know that many mortgage lenders will not approve you for a loan if you do not carry proper commercial insurance.

Those With Liability Concerns

Some businesses and business owners are more prone to liability lawsuits than others. Therefore, having commercial insurance for them is a must. Most commercial insurance policies provide at least some level of liability protection. 

Business Owners Who Hire At Least One Employee

In the state of Pennsylvania, it is mandatory to carry worker’s compensation coverage. The purpose of this coverage is to protect business owners and their employees from financial losses if an employee is injured on the job. It also protects businesses from potential lawsuits. 

Gallina And Sons – Get Commercial Insurance To Protect Your Business

If you run your business in Pittsburgh, PA or Pittsburgh area, you should consider getting commercial insurance to protect it. Contact Gallina and Sons – an insurance company that will help protect your business, you as a business owner, and employees who work for you. Feel free to call us if you have any questions or need more information.  

Why you may want to add more liability insurance coverage

Owning a home comes with a certain amount of risk. That is why having not only the right home insurance but the right amount of liability coverage is vital to your financial security. Residents of Pittsburgh, PA can look to Gallina and Sons when they have home insurance questions or needs. 

Liability coverage protects you and your assets. If someone is injured at your home or by a member of your family, they may seek to have their medical bills paid, reparations for damages, and may sue for pain and suffering. This requires that you get legal representation. All of this can get expensive and you need to have enough liability insurance to feel that you are adequately covered. 

Some things put you at a greater risk of a large judgment against you and there may be liability risks at your home you aren’t even aware of. 

Your net worth has increased

The more you are worth, the more at risk you are of being sued. Chances are, your net worth has increased significantly from the time you first bought your home insurance policy and today. Keep that in mind when deciding on how much liability coverage you feel comfortable with. 

You have a dog

Your dog may be a member of your family, but depending on the breed, it may be a huge risk factor. Some breeds are considered so risky that insurance carriers won’t insure them. Let your insurance agent know that you own a dog and make sure your breed is covered. 

You have a pool

A pool is a great place to hang out in the warm weather, but it is also a risk you must consider when choosing your liability coverage. 

Residents of Pittsburgh, PA can count on Gallina and Sons for all their home insurance requirements. 

How Much Does Business Insurance Cost?

There is no doubt that having a business in Pittsburgh, PA, is profitable. There is a huge population with valuable customers. However, according to Gallina and Sons, for you to sustain your business without major hiccups in this region, it is essential to have business insurance. This is an insurance policy that covers you against possible perils such as fire, theft, downtime, worker compensation, and commercial vehicle breakdown. 

How Much Does Business Insurance Cost?

As a typical business owner, paying attention to cost implications is important. You don’t want to have a policy that will take too much capital out of your business. At the same time, you don’t want to be underinsured. The best way to sustain your finances and get covered is to strike a reasonable balance. 

What Affects Business Insurance Cost?

In most cases, insurance policies will be customized. Your business will have a distinct insurance policy as compared to the next organization depending on the factors discussed below. 

Area of Operations

Depending on the area of operations, businesses carry different risks. A tree-cutting business carries more risks than an organization that is offering online teaching. As such, you need to determine your risk levels before knowing the type of insurance policy to consider. Number of Employees

If you have two or three employees, your insurance costs will be lower. However, if you have many employees, you should expect to pay higher. Each employee increases risk exposures, which means that your claims are much higher and more regular as compared to a company with few workers. 

Looking for Business Insurance?

Gallina and Sons is the leading business insurance company in Pittsburgh, PA. We endeavor to provide the necessary protection to your business and cover your valuable investments. Call us today for more information on business insurance and associated costs.

What Could Happen if a Property Owner Does Not Get Home Insurance?

Owning a home in the Pittsburgh, PA area is a great option for many. Most property owners here would agree that having proper insurance continues to be a necessity. If you are a property owner here and do not have home insurance, a few different negative situations could arise. 

You Could Lose Assets

One of the worst situations that could arise if you do not have home insurance is that you could lose your assets. Your home and personal belongings are covered under a home insurance plan. This means that you will have support if you are a victim of fire, storm damage, vandalism, theft, or other situations that result in a loss. If you do not have insurance, you will lose this protection and may not have the resources to repair or replace them in the future. 

You Face Liability Risk

Another risk of not having home insurance is that you have a heightened liability risk. Property owners are going to take on some liability risk at all times. If an accident happens in your home, you could be held liable for the damages associated with it. With insurance, you will have the support to cover these damages. However, if you do not have insurance, you may need to cover the damages out of your own financial resources. 

There are a lot of reasons that people in the Pittsburgh, PA area should always have a proper home insurance plan in place. If you are looking for a new plan and want to ensure that you are properly covered, calling Gallina and Sons is a great option. The team with Gallina and Sons can offer you any support that is needed to fully understand your options and choose a new plan. 

Four things your condo association insurance policy should cover

If you own a condo in Pittsburgh, PA, it’s important to understand what your condo association insurance policy covers. At Gallina and Sons, we offer condo insurance policies in Pittsburgh.

The following are four things your condo association insurance policy should cover. 

Common areas

One of the potential expenses that just about any condo association insurance policy should cover is damages related to common areas. If a common area such as a roof, basement, or elevator is damaged, condo association insurance should cover the resulting expenses. 

Liability for the entire association

Condo association coverage also should include liability expenses that the association together experiences. If the association is sued because someone became injured on commonly owned property, the condo association policy should cover the resulting expenses. 

Personal belongings

It’s important to read the fine print and understand exactly what your condo association policy covers. While not all such policies may not offer coverage for personal belongings, some may offer coverage for the personal belongings of individual unit owners. 

It’s important to understand whether your community’s condo association insurance policy offers any coverage for personal belongings. This influences your own need for an individual condo insurance policy. 

Individual units

Some policies might offer coverage to damages within individual units. It’s important for condo owners to be aware if their condo association insurance policy offers such coverage.

If your condo association insurance policy doesn’t offer coverage for such expenses, then it’s important to invest in an individual condo insurance policy offering damages and liability coverage for individual units. 

We’re here to help you with all your questions on condo association insurance. Get in touch with us at Gallina and Sons to learn about your policy options in Pittsburgh, PA. 

Three things to remember when you’re insuring your business

Finding the right commercial insurance policy to protect your business operation financially is important. At Gallina and Sons, we offer commercial insurance policies in Pittsburgh, PA.

The following are three things to remember when you’re insuring your business.

There are numerous coverage types to consider

One of the most basic things you need to know about commercial insurance coverage is that there are numerous types to consider. Just a few types of commercial coverage include commercial liability, commercial property, malpractice, and errors and omissions coverage.

You need to learn about what the different types of coverage are and evaluate whether you need them. 

Performing a risk assessment is important.

One step that any company should go through when in the process of finding commercial coverage is a risk assessment. A risk assessment will pinpoint all the financial risks your company faces. This risk assessment should also involve calculating how much coverage your company needs.

Don’t overlook the importance of the risk assessment. You want to find insurance to offer your company financial security, but you don’t want to overpay for insurance coverage. That’s why a risk assessment involving detail and careful calculations is important. 

Certain types of coverage may be required by law.

Another important thing to remember is that you could be required by law to have commercial coverage in some cases. For example, you may need to carry workers’ compensation coverage if you employ enough workers. Figure out what your legal obligations are before you purchase a policy. 

Do you have questions about commercial insurance in Pittsburgh, PA? We’re here to help at Gallina and Sons. Contact us with your inquiries about our commercial insurance policies.