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4268 Cahaba Heights Ct., Ste. 136
Vestavia, AL 35243

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Tag: Birmingham AL

Why You Need Both Home Insurance and Flood Insurance

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As a homeowner, there are numerous responsibilities to manage, two of which are securing home insurance and flood insurance. Having just one or the other isn’t sufficient and could leave you exposed to significant costs. It’s crucial to have both policies, regardless of where you live in Alabama. If you don’t have a flood policy yet, now is the time to get one. Call us at Magic City Insurance Group LLC in Birmingham, AL to get started.

Home Insurance and Floods

Many people avoid getting flood insurance because they assume that their home insurance would cover any damages from a disaster. However, this isn’t true. Certain things are excluded from a home insurance policy, and one of these is flooding. If a flood damages your home, your home insurance won’t cover any part of the damages. To be covered against such a disaster, you need to have a flood insurance policy in place. These policies are specifically designed for flooding and can cover the necessary repairs after a flood. Even a small amount of flooding can cause significant damage to a home, which can be prohibitively expensive.

Alabama Flood Insurance Options

Flood insurance is backed by the National Flood Insurance Program, a government-backed entity that will make the funds available if needed after a flood. This program also ensures that the cost of flood insurance is set, so you don’t have to shop around to find a better deal.

Get Flood Insurance in Alabama

Call Magic City Insurance Group LLC in Birmingham, AL to get your flood insurance policy.

When is roof damage covered by home insurance?

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Many homeowners never file a claim with their insurance company for home damage, often because they’re unaware of the types of damage covered by their policy. Your roof falls into this category. While you’re responsible for maintaining and replacing it as it ages, Magic City Insurance Group LLC in Birmingham, AL, can help answer your questions about coverage for roof damage.

Windstorm

Windstorms can cause significant damage to your roof. You may not notice the damage until you require roofing work or encounter a leak. Strong winds can shred off the shingles and curl them up, exposing your roof to water. You’d need a professional roof repairer to inspect your roof, followed by an insurance adjuster to confirm whether your insurance covers the damage.

Fire

If a fire breaks out in your home, it could spread to and even penetrate your roof. Home insurance generally covers fire damage resulting from a lightning strike during a storm or a wildfire.

Hail

Hail can inflict serious damage, especially to asphalt roofing shingles. These shingles have a rough finish made from mineral granules. Not only does this finishing enhance the appearance of the shingles and hinder algae growth, but it also protects the asphalt. However, hail can harm these granules; when damaged, the tiles are more susceptible to leakage. Inspecting your roof after a severe hailstorm can prevent internal damage.

Contact us at Magic City Insurance Group LLC in Birmingham, AL, if you need information about your home policy or are considering switching carriers.

Benefits of Full Coverage Insurance

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Most people are aware that state or federal law often mandates limited liability insurance. However, several other types of insurance are available. In recent times, more vehicle owners have chosen full coverage insurance to ensure they are financially protected if something happens. An uptick is observed in people in Birmingham, AL, opting for full coverage over liability for various reasons.

Protect Your Assets

For many individuals, their car is their prized possession. Clients at Magic City Insurance Group LLC, particularly ones with expensive modifications, usually prefer full coverage insurance to safeguard their upgrades. This precaution can save thousands in the event of an accident. For instance, if your rims cost $5000, you’ll only pay a fraction of this amount as a deductible to replace them. Full coverage insurance may also reimburse you for an exceptional sound system.

Unknown Offenders

Locating individuals responsible for some crimes can be difficult or even impossible. For example, a scenario could arise where someone damages your car in a parking lot without the store having any surveillance cameras. You may endure a hit-and-run accident while your vehicle is parked in front of your house. Full coverage insurance covers damages inflicted by another person, making it an excellent choice for those seeking peace of mind.

Every Policy In One

Full coverage insurance in Birmingham, AL combines various types of coverage into one comprehensive insurance policy. This insurance covers theft and other uncontrollable situations. It includes the limited liability requirement, thus ensuring legal compliance. Full coverage also covers accidents where you’re the responsible party.

Contact Magic City Insurance Group LLC

Full coverage insurance often gets misrepresented as overly expensive and unnecessary. However, it’s more affordable now and can offer peace of mind. Our expert agents at Magic City Insurance Group LLC are ready to provide you with a quote and clarify the benefits. Contact us today to learn more about our available policies.

Will I Be Required to Get Flood Insurance to Buy A House?

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If you’re seeking to buy a house, you may be required to have various types of insurance. Sometimes, flood insurance is required. Knowing when and how to get flood insurance is essential.

At Magic City Insurance Group LLC, servicing Birmingham, AL, we offer a range of insurance services to guide our customers to the right type of insurance policy.

What Is Flood Insurance?

Flood insurance insures structures and their contents in the event of a flood. It is a separate policy from home insurance, as most home insurance policies don’t cover floods. The National Flood Insurance Program (NFIP) provides flood insurance.

Is Flood Insurance Required to Buy A House?

Flood insurance is demanded if you secure a mortgage in a high-risk area. Your mortgage lender will inform you if you need to get flood insurance. This is a federal requirement, and your mortgage lender may require you to get flood insurance even if you’re not in a high-risk area.

In addition, flood insurance is essential if you live in a high-risk area, have received disaster assistance, and desire continued eligibility for disaster assistance in the future.

Who Needs Flood Insurance?

Almost everyone can benefit from flood insurance, even if it’s not mandated. Flood insurance protects you from financial liability if a covered event occurs.

To learn more about acquiring flood insurance for your home, contact Magic City Insurance Group LLC, servicing Birmingham, AL. Call us today.

Does Your Home Insurance Cover Your Home Office?

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Do you work from home?

If you do, you may need to review your policy with your agent at Magic City Insurance Group LLC, serving Birmingham, AL, and all of Alabama, to get the additional coverage you need. Here are three important facts about insuring your home office every at-home entrepreneur needs to know.

Your Homeowner’s Policy Doesn’t Cover Everything

Every homeowner’s policy offers coverage against:

  • Fire
  • Theft
  • Storm damage
  • Vandalism

…and other common perils of owning a home.

If you are using your own computer, server, and office equipment in your home office, your policy will cover them, too. (If you use your employer’s equipment, your employer’s policy will cover them.) However, most homeowners’ policies have a $2500 limit.

Additionally, some policies exclude "damage from business pursuit." If your employer or your clients sued you for their losses from a casualty event, your homeowner’s policy would not help.

Additional Insurance If You Work from Home

Three easy ways to get the additional insurance you need if you work from home.

One option is to get a business property endorsement on your existing homeowner’s policy. This will increase the dollar amount of personal property coverage for your home office. Typically, this will increase a $2500 limit to $5000.

Another option is to get a separate in-home business insurance policy. This policy increases the coverage of your business equipment, typically to $10,000, but it also covers data replacement and liability after cyberattacks and income replacement when some insured event causes your home office to become inoperable.

You may even want to get a business owner’s policy. This is your best option if you need more than $10,000 in personal property coverage or if you have employees.

Whether you live in Birmingham, AL, or anywhere else, Magic City Insurance Group LLC can help you find the coverage you need. Call us for a policy review today!

Understanding Underwriting and How it Effects You

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Part of your responsibility as an auto owner is to maintain auto insurance. If you live in the Birmingham, AL, area and you’re looking for an agent who will work hard to find the best auto insurance options near you, we invite you to visit us at Magic City Insurance Group LLC.  We know you want to protect yourself and your car. Our experienced agents will ask the right questions to get you the perfect policy answer. 

How Insurance Underwriting Works 

You may have wondered how insurance companies calculate your insurance premiums. The formula for premiums is based on underwriting and rating. Underwriting uses information about you to place you in a category of drivers with similar risks to determine how much it will likely cost them to provide your insurance. The insurance company will look at the number of past accidents you have had, plus your age and gender. 

Where you live and whether you use your car for business will also be part of the underwriting calculation. Another factor is your car type and whether your vehicle is considered high-risk. You may be interested in learning that your marital status and profession are also part of an underwriting decision. Those criteria are then used to assign you a rating and arrive at the amount of your insurance premium.  

Call Us Today for an Appointment 

Don’t leave your auto insurance decisions to chance. Alabama’s residents are required to carry insurance, and you’ll want to stay legal. Residents in Birmingham, AL, can trust the agents and staff at Magic City Insurance Group LLC. Call us for an appointment today, and let us find the best policy for you.

Prepare A Commercial Water Remediation Plan

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Prepare a commercial water remediation plan. The plan will prevent permanent damage from occurring. It will also minimize costs that you will be responsible for.

Property Assessment

Your property assessment will determine the condition of the land that you own. During the evaluation, the drainage properties of the land should be inspected.

A property assessment will reveal any issues that could lead to flooding. Potential issues should be addressed. This will minimize the likelihood of encountering flooding waters on your property.

Remediation Project

Water remediation strategies should be used when water backs up on your property or inside your place of business. The strategy will reduce pooling water, minimizing the risk of permanent water damage. 

  • Assessment
  • Drainage steps
  • Cleaning processes
  • Drying strategies
  • Additional support

Guidelines

Refer to the list above when formulating your water remediation plan. Before pooling water is cleaned up, an assessment will need to be conducted. This assessment will determine the extent of the damage and help identify any drainage concerns.

If a basement floods, a sump pump may be required. A sump pump effectively reroutes the water outdoors. Once the affected area has been drained, cleaning processes should be implemented.

All wet surfaces should be treated with disinfectant. If any materials are saturated, they must be dried. Any severe water damage should be reported to your insurance agency in a timely manner.

Contact Magic City Insurance Group LLC

Contact an agent at the Magic City Insurance Group LLC. An agent who serves Birmingham, AL will answer any questions you have about your flood insurance coverage. You can also request more information about water remediation strategies.

Is Homeowners’ Insurance Required for You?

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Owning a home necessitates extensive planning, including acquiring and maintaining a comprehensive home insurance policy. Beyond offering financial security, home insurance is often legally mandated. Many entities enforce these requirements, and flouting them could result in significant fines or even eviction. However, the absence of such legal requirements does not exempt homeowners from the need for robust insurance coverage. At Magic City Insurance Group LLC in Birmingham, AL, we can guide you in initiating this process.

Mortgage Lenders and Insurance

Mortgage lenders invariably stipulate proof of insurance coverage from homeowners. The lender’s investment is tied to your property, so they seek to protect their interest through insurance. An active insurance policy ensures that the necessary funds will be accessible to cover any required repairs following a significant incident. Failing to provide proof of insurance can prevent you from closing the deal on your home.

Homeowner Associations (HOA) and Insurance

If a homeowners’ association governs your community, home insurance is mandatory. These associations aim to preserve overall property values by ensuring each homeowner can afford to repair any damage that might degrade the neighborhood’s general aesthetic. Without insurance, homeowners may abandon a home requiring expensive repairs, which can lead to property decay.

Mandatory Insurance Under Covenants

Regardless of whether an HOA oversees your neighborhood, if covenants are in place, those agreements will necessitate home insurance coverage. The absence of such a policy exposes homeowners to substantial fines until they comply with the coverage rules.

Securing Home Insurance with Magic City Insurance Group LLC

A comprehensive home insurance policy protects both your home and your financial position. Contact Magic City Insurance Group LLC in Birmingham, AL, and let our team help you find a suitable policy for your needs.

How do auto insurance companies assess my risk?

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Auto Insurance Risk Analysis by Insurance Companies

Insurance companies evaluate an enormous amount of data to gauge the risk associated with insuring an individual or a family. An array of information, including the applicant’s demographic specifics, driving history, past incidents, household vehicles, and other determinants, comes into play. These multiple elements collectively constitute the premium an applicant or people sharing similar traits have to pay. The Magic City Insurance Group LLC, dedicated to the community in Birmingham, AL, is keen to assist you in procuring the most suitable auto insurance coverage for you and your kin.

Deciphering Auto Insurance Risk Factors

Insurance companies own decades of data on accidents, those involved, and compensations made toward repairs and medical care. This data is then sorted based on gender, age, marital status, and other attributes to determine the risk profile of every applicant. While it’s impossible for insurance companies to fathom if a particular 16-year-old is a safe driver, past data signals new drivers as more prone to accidents than their experienced counterparts. Hence, younger drivers often face higher premiums.

Beyond Demographics: Additional Influencers

Aside from demographic details, a driver’s accident history and traffic violations significantly sway the risk calculation. Similar importance is accorded to the vehicle’s safety provisions, body type, and worth, as these factors determine the chances of an accident and the associated repair costs. Finalizing the coverage limits and deductibles also has a bearing on the expected risk.

The Emergence of Usage-based Insurance (UBI)

Insurance companies are increasingly shifting to offer Usage-Based Insurance (UBI). UBI leverages vehicle telematics software to track driving habits. Insurance companies can fine-tune the premiums applicable to a driver or an entire household by monitoring aspects such as speeding, hard braking, and miles driven.

Collaborate with Magic City Insurance Group LLC

Our Magic City Insurance Group LLC team, serving the Birmingham, AL community, is eager to address all your insurance queries. Reach out to us at 205-679-0070 today to design a tailored insurance plan that addresses your requirements.

Why Flood Insurance is Necessary Even in Low-Risk Areas

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With the help of our team at Magic City Insurance Group LLC in Birmingham, AL can find high-quality insurance policies for many issues. For example, we can help people in low-risk flood areas find a reasonable policy that protects them from the possible but unlikely risk of serious floods.

Low-Risk Doesn’t Mean No-Risk 

The thing about a low-risk status is that it’s not necessarily a guarantee against getting flooded. With few exceptions, floods can potentially impact any home unexpectedly. After all, low risk doesn’t mean that your home is 100% safe from floods, particularly when in areas near dams and lakes. 

That unfortunate reality has taken many people by nasty surprise when their low-risk home is suddenly filled with water, and they have no flood insurance. Most home insurance policies won’t provide protection and require you to add an extra rider to get the protection you need.

Floods Aren’t Always Natural

While it’s true that many floods center around natural sources, such as lakes and rivers, that’s not always the case. For example, if your pipes burst in your basement (which can happen in various types in many homes), you’ll experience a severe and problematic flood.

That makes it critical for you to get a flood insurance policy. It can help protect your home in these strange scenarios and minimize damage risk. It can also ensure that you and your loved ones are protected from unexpected surprises that might happen at any time in a home.

Protect Your Home Today

It’s critical to do what you can to avoid flood damage by getting a strong policy from Magic City Insurance Group LLC. We can help Birmingham, AL residents in low-risk areas find a strong coverage option that minimizes any costs they may have to pay if a flood does occur in their home.

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