Insuring a Historical Home and Other Unique Residential Properties

There are many historic properties in Georgia. Most are listed in the National Register of Historic Places. Insuring a home that is of historical significance is somewhat challenging because if the home gets damaged, simple repairs are not sufficient. To maintain the historic designation, a damaged historic home must be restored to the exact condition before the damage occurred, using the same type of materials that were originally used.

The trouble is that restoration, when compared to repairs, is much more expensive and materials of the proper kind may be very difficult to find. For this reason, a historic home needs to be insured for the restoration value, not just the replacement value.

Appraisal Requirement

Usually, the insurance company will send out an appraiser who has the skill and experience in estimating the restoration costs. The appraiser should note any special characteristics of the home and if it includes any antiques, in order to make a good estimate of the insurance coverage needed.

It is important to work with your agent at The Insurance Mart in Blue Ridge, GA in order to take the proper steps to get the appraiser to visit the home. Antiques and artwork in the home are likely to need a separate insurance policy if they have significant value.

Restorations and Upgrades

If the home needs restoration when you buy it, the insurance needs to be upgraded at regular intervals. As the restoration progresses the value of the home increases. It is a good idea to install modern safety features, such as smoke alarms if any restoration is begin made. These do not detract from the historic value and add more protection for fire risk, which may positively impact insurance premiums.

Conclusion

Owning a historic home conveys a great sense of pride in ownership. Contact your agent at The Insurance Mart, serving Blue Ridge, GA and the surrounding area, when considering buying a historic home to be sure that the insurance coverage is adequate for your needs.

Commercial Insurance for Restaurants

Commercial insurance comes in many varieties depending on the needs of a particular business. Business owners of restaurants are well-advised to work closely with their insurance agent at The Insurance Mart, serving Blue Ridge, GA and the surrounding area, in order to make sure there is adequate insurance coverage to protect the business and the owner’s interests.

The categories of commercial insurance that restaurant owners should consider include:

  • Worker’s Compensation
  • General Liability
  • Commercial Vehicle Insurance
  • Property and Casualty Insurance
  • Product Liability
  • Business Interruption Insurance
  • Umbrella Insurance
  • Key Person Insurance

Worker’s Compensation Insurance

This insurance is mandated by state law. Every employer in the state of Georgia must maintain worker’s compensation insurance. This insurance protects both the employees and the employers. The employees are guaranteed a certain level of insurance coverage and payments for medical expenses, injuries, or payment to the next of kin for an employee’s loss of life while on the job. The employers have limited liability in the amount of the coverage offered by worker’s compensation insurance.

General Liability

This type of insurance provides protection for customers if there is an accident.

Commercial Vehicle Insurance

If any vehicle is used for the business, such as making food deliveries or picking up stuff for the restaurant to use, it needs to have commercial vehicle insurance.

Property and Casualty Insurance

This insurance protects the company’s assets that include the building, equipment, inventory, and furniture.

Product Liability

This type of insurance covers any products sold.

Business Interruption Insurance

This insurance helps pay the bills if the business has to temporarily close due to unforeseen circumstances such as a natural disaster.

Umbrella Insurance

Umbrella insurance covers things that are not covered by other policies and extends the policy limits of other policies. Because of the risk of high settlement amounts or litigation awards, most businesses benefit from having umbrella coverage.

Key Person Insurance

If the business is heavily dependent on the efforts of a specific person or persons, they should have insurance so that their heirs can be able to withstand a sudden death or permanent disability of the key person, which negatively impacts the running of the business.

Conclusion

As a restaurant owner, it is best to have an insurance review with your agent at The Insurance Mart serving Blue Ridge, GA to make sure all your insurance coverage is adequate for your needs. Contact them today.

Recreational vs. Recreational Vehicle Insurance

In today’s rush and hurry world, we often try to do things online or by a phone message that really needs an actual conversation. At The Insurance Mart, we want everyone in Blue Ridge, GA to get exactly the insurance they need, one reason we encourage people to come by and talk about your insurance needs before you buy.

If you try to go the do-it-yourself route, you could end up with not enough, too much or the wrong coverage altogether. For example, there are two different kinds of recreational insurance – outdoor/recreational insurance and recreational vehicle insurance. They’re both known as recreational insurance, for short.

If you want to insure your boat, Seadoo, RV, fifth wheel, snowmobile, dirt bike, dune buggy, golf cart, or ATV, you need recreational vehicle insurance. You’ll obtain a comprehensive policy to protect both rider and ride.

On the other hand, outdoor/recreational insurance offers businesses such as outfitters & guides, rope courses and ATV, bicycle or snowmobile tours either general liability insurance to cover bodily injury and property damage claims or comprehensive protection. It also covers amateur sports events. Although some items covered under it do involve a vehicle, others don’t. A ropes course or 5K race involves only the entrant and their physical capabilities.

The Insurance Mart wants to talk with you to know if you need insurance for your weekend ride or your weekend business. If you buy online, the similarities in name and some coverages might seem the same. You won’t have what you need though.

Come visit us in Blue Ridge, GA. We’ll help to determine what insurance really serves your needs and your budget.

Homeowner’s Insurance: Valuing the Invaluable

The purchase of a house is generally the largest investment of anyone’s life. And the home in which your family lives must be protected. Avoiding risk and selecting an appropriate amount of insurance coverage best accomplishes this. For homes in and around the Blue Ridge, GA area, the insurance professionals at The Insurance Mart are ready to help homeowner’s with their insurance needs, including guidance regarding the three valuation methods that can be used to safely estimate the value of the items to be covered by their homeowner’s policy.

Replacement Cost

Replacement Cost is the actual cost to buy the necessary materials and fund the labor costs to restore the property to its undamaged status.  It is noted that homeowner’s insurance policies are written with a maximum provision that limits the policy’s payout, to protect the insurer from dramatic market fluctuations.

Actual Cash Value

Actual Cash Value can be simply calculated by subtracting the depreciated value from the item’s replacement cost. An Actual Cash Value policy will have a lower payout than the Replacement Cost, however, they are not written with maximum payout provisions. 

Market Value

The Market Value of a home is the indicated value of a home on the open market if a similar match could even be found. It might appear that the Market Value approach is the fairest method however, the American Insurance Association cautions homeowners to opt out of this method.  Market Value includes the cost of land, which would have no need to be rebuilt. 

 

The Take-Away

Before deciding upon which valuation method to use for your home’s insurance coverage in and around Blue Ridge, GA, reach out to a licensed agent at The Insurance Mart to allow them to assist in the entire insurance process. 

What Type of Coverage Is Best for A Show Car?

Residents who own show cars in the Blue Ridge, GA area need to make sure they have sufficient insurance coverage. The agents of The Insurance Mart can determine what type of coverage you need to protect your investment. Classic or "show" cars are the vintage antiques of the auto industry. From stylish sedans like the ’57 Chevy Bel Air to the strong and powerful muscle cars, these vehicles represent a small glimpse of automotive history.

The Value of the Car

Cars that have been restored will vary when it comes to their value. A classic car that was rebuilt using aftermarket parts will hold less value than one that was restored using all OEM parts. A car with parts made from the original molds used by the manufacturer will be worth much more and should be insured at the highest value possible. This protects you from losing your investment if the vehicle is ever damaged or stolen.

Driven or Stored

In most areas, you will need the same level of insurance no matter if it’s driven or stored and trailered to events. To be fully covered, the insurance policy will be based on the value of the vehicle, but will also provide minimum liability protection against bodily injury and property damage. This also allows you the opportunity to drive it on public roadways, even if it’s only to be used in parades or as an escort.

At The Insurance Mart, the agents are able to help you find the approximate value of your classic car and help you to get the insurance you need to protect it. If you live in the Blue Ridge, GA area and have a muscle or classic car that you want to insure, call the office today and schedule an appointment at your earliest convenience.

What Are The Requirements Need For A Car To Be Considered A Classic?

Classic cars can be found at car shows, but they are also becoming more common the roads as well. Owners often spend thousands of dollars restoring these older jewels in the crown of the auto industry. It’s important to know what makes these cars so special. A classic car isn’t just an old vehicle that someone decided to fix up.

What Makes It A Classic?

Classic cars belong to different categories, just like newer models. Residents of Blue Ridge, GA can ask the agents at The Insurance Mart if they questions about whether or not their car is considered to be a classic. One of the most popular categories is the muscle car group. The Chevrolet Camaro, Ford Mustang, and Dodge Charger are just a few of the cars that made it into this category. Known for their speed and overall power, these three vehicles were the powerhouses of the auto industry in the late 60s and early 70s.

How Is A Classic Car Insured?

Classic cars are insured in much the same way as any other automobile. The amount of insurance you purchase is based on the value of the vehicle and what it would cost to repair it if it was damaged in any way.

At The Insurance Mart, residents in and around the Blue Ridge, GA area can schedule an appointment to determine whether or not their car meets the guidelines to be considered a classic. They can also help you find the right type of policy that will cover your car if you choose to put it in car shows or drive it on a daily basis. Call the office today and schedule an appointment to get the answers you need!

Why You Need Secondary Homeowners’ Insurance Year Round

Everyone knows that having homeowners’ insurance is a must year round, but did you know that you should have your insurance to extend liability coverage to your vacation or rental property? It is important to protect yourself because the likelihood of a covered event is increased with secondary homes.

Extended Coverage

When you purchase or rent a second home or vacation home, you should also have your primary home insurance to extend liability insurance to cover that residence year round. There could be a covered event when you are away, so you should ensure you are protected if that incident occurs. Determine the cost of the property and any contents and select the next dollar value offered to adequately cover the replacement cost of the property. Some people may feel that you should only have insurance for a portion of the year when the home is in use, but that is not the case and should be avoided.

Adding A Second Home

If you purchase or rent a second home, make sure you talk to your insurance agent and let them help you work out the specifics of your policy. If you wish to purchases additional umbrellas coverage you may want to consider doing so. Ask about addition Personal Umbrella Protection or PUP, that can go up to $1 million in coverage. For more information about second home insurance, call or stop by Blue Ridge, GA, The Insurance Mart and let our agents help you decide what type of protection is right for your second home.

Don’t leave your second residence vulnerable. Get the coverage you need year round with additional second home insurance from Blue Ridge, GA, The Insurance Mart and have peace of mind knowing you can enjoy your second home when you are ready to get away.

 

 

Classic Cars: A Hobby and An Investment

The Insurance Mart of Blue Ridge, GA understands how much love and care can go into classic car ownership, in addition to the expense of buying and maintaining the vehicle. We are here to help you procure the comprehensive care that your classic car requires and help you gain the peace of mind that comes with knowing that your hobby and investment is fully covered. If you are considering the purchase of a classic car, give us a call to ensure that your new investment has the comprehensive coverage such a vehicle deserves.

Protect Your Classic Car Investment

If you have or are considering buying a car that is 12 to 24 years old and is of a limited production or a rare make and model, you will want to protect your investment with classic car insurance. These policies are tailor-made for the unique requirements of such an investment, and our trained agents are here to ensure that your car receives the right coverage. 

There are certain regulations that come with classic car policies, such as the stipulation that the car receives a limited use, it must be restored or in excellent condition, and this condition must be actively maintained. Some policies will require that the vehicle is stored in a secure garage or other location, while others do not carry this requirement. Whether it is required or not, safely storing your classic car is always a smart idea.

The Insurance Mart is proud to serve the unique insurance needs of the greater Blue Ridge, GA area and would welcome the opportunity to fulfill your comprehensive insurance needs. Please give us a call today at (706) 492-3234 to schedule an appointment to discuss your classic car insurance needs. We look forward to working with you!

When You Are on The Road…How Does RV Insurance Protect?

Just as you are required to carry liability insurance on your car, you are also required to carry coverage on your RV. While the two policies may have some similarities, due to the nature of the vehicle, an RV must have a specialized policy. The team at The Insurance Mart has worked with RV owners in the Blue Ridge, GA area for many years. Like you, they enjoy the area lakes and recreation areas so the understand your needs.

As the RV combines elements of both a vehicle and a living space, insurance policies have to recognize both of these elements. Other factors that will determine appropriate insurance coverage include the size, weight and special features the RV has. RVs are rated as Class A, B or C. Class A motor homes are large RVs with full size features designed for long term use. Class B RVs are smaller vehicles and have far fewer amenities. These “camper vans” are most often for short term use.  Class C motorhomes are a mid-size RV. While they are smaller than a Class A, many people see Class C RVs as a more economical choice for their family. Another factor that determines coverage levels is the amount of use the RV will get.

RV insurance policies protect with liability, personal injury and collision coverage. They can also provide coverage for full replacement should your RV be stolen or totaled in a collision. There are also policies that will cover your personal effects. Additional coverage can protect elements that are attached such as awnings or satellite dishes. 

The team at The Insurance Mart can help you with your RV insurance needs in the Blue Ridge, GA area. Call today and get the protection you need!

What Are the Standard Coverage Options for Boat Insurance?

Each time you cast off in your boat, you want to have peace of mind knowing that you’ll be covered if an accident or unexpected event occurs. To get this piece of mind, you’ll need an insurance policy that will protect your boat and finances no matter what.

Depending on your boat, location, and policy choice, there may be additional coverage options available to you, but for the most part, when it comes to boat insurance, you’ll be working with a policy that provides standard coverage options. This includes physical property damage coverage and liability coverage. 

Physical Property Damage Coverage

Physical property damage coverage will protect your boat from losses that may be caused by fire, collision, theft, sinking, storms, or other catastrophic events. Generally speaking, your hull, anchors, motors, batteries, fuel tanks, safety equipment, and other permanent boat components will be covered under this type of insurance. Again, depending on the policy that you choose, you may be able to get things like your trailer and other boat-related components covered as well.

Liability Coverage

This type of insurance protects you and your finances from liability claims. If your boat were to cause physical property damage to another boat or structure or if it were to cause personal injuries to someone else, a good liability plan will protect you from possible lawsuits and the subsequent costs.

The Insurance Mart Can Help

Are you a Blue Ridge, GA resident who is looking for boat insurance? The Insurance Mart serves residents of Blue Ridge, GA and would be happy to work with you to find a boat insurance plan that meets your unique needs. To learn more about the boat insurance policies that we offer and to speak with an agent today, give us a call or visit our nearest office.