It is a common misconception that those downsizing from a single-family home to a condominium in San Antonio, TX, need the same type of policy to cover their dwelling. However, homeowner’s insurance and condo insurance have major differences. Ellis Insurance Agency can explain these differences and guide you to the appropriate policy.
Protecting Your Building
When you own a single-family home, you need to protect the entire building, meaning your insurance policy must cover the exterior, the roof, and the property surrounding it. This is not the case with condo insurance. Your homeowner’s association (HOA) master policy covers damage to your unit’s exterior, roof, building hallways, common areas, and the property surrounding the building. The one exception involves loss assessment fees. More HOAs are implementing this measure, charging their members a percentage of what the HOA must pay if there is a loss involving the common areas. You can add loss assessment coverage to your condo policy to cover this risk.
Your Insurance Responsibilities
Condo and townhome owners are still responsible for covering risks inside their units. This includes liability. While the association’s master policy insures accidents that happen in common areas, the liability portion of your policy covers what happens in your unit. Your condo policy will also cover your personal belongings, such as clothing, furniture, jewelry, electronics, and other valuables. Like a homeowner’s policy, you can schedule high-worth items to ensure they are covered if stolen, damaged, or lost. Familiarize yourself with your HOA policy and the terms of your condo policy to ensure full coverage.
If you’re wondering whether you have sufficient coverage for your condo, contact the experienced agents at Ellis Insurance Agency in San Antonio, TX. Our staff will gladly review your policy and recommend any changes you need for full coverage.
When it comes to commercial insurance, our team has you covered. We are excited to introduce our newest member, Veronica, who brings a wealth of expertise to our team. Learn more about Cyber Security and its importance for your small business, as safeguarding your digital assets is crucial in today’s landscape. Additionally, explore whether your company requires commercial auto insurance to protect your vehicles and drivers. To foster a productive work environment, check out an article written by our friend and client, Levi Kirwin, on creating clarity and communication throughout your organization, where we discuss effective strategies to enhance transparency and engagement within your team. In our Client Center, we offer personalized assistance to address your specific needs, ensuring you get the most comprehensive coverage.
Meet Our Newest Commercial Lines Account Manager
Introducing Veronica Caesarez, our newest Commercial Lines Account Manager. With over 20 years of experience in the insurance industry, she brings a wealth of knowledge to our team. Learn more about Veronica and our other amazing team members HERE.
Do you need Commercial Auto Insurance?
Are you unsure whether your business needs commercial auto insurance? Progressive Insurance has published an insightful article that clearly outlines the differences between personal and commercial auto insurance. This resource can help you determine whether your business vehicles require commercial coverage to ensure you’re adequately protected on the road. Check it out to make an informed decision tailored to your specific needs.
Creating Clarity and Communication Throughout Your Organization
1 Point, 2 Minutes: Energize your teams through communicating consistent clarity of purpose.
Founders and CEOs need to answer six questions to create clarity and communicate clarity consistently throughout your organization (see Patrick Lencioni’s “The Advantage”)
Why do we exist?
“Because the world needs…” (fill in your WHY)
How do we behave?
Define core values, no more than five.
What do we do?
Your one sentence value proposition for prospects.
How will we succeed?
What are the unique(s) your product or service brings to the market?
What is most important, right now?
The time horizon should be from 3-12 months.
This choice you make should be exactly ONE thing that, if accomplished, will move your firm forward more than any other choice.
Outline one sentence as a thematic goal, and define objectives in clear steps as work tasks.
Connect these to your business goals for the year. Revenue, prospect pipeline strength, cost reduction, something else.
WHO must do WHAT to accomplish the most important choice you have identified?
This isn’t a prompt to Ctl-C, Ctl-V your org chart.
Instead, you are assigning each clearly defined work task to exactly one owner to accomplish “what is most important.”
Get your leadership team aligned and agreed on (1) – (6). Congratulations, you have created clarity! Now, communicate clarity. Create a short simple communication for (5) and (6) for each team leader to cover, each week, on progress to the goal. Repeat clarity. Every week.
You’re the visible leader and you set the rhythm of your organization; you set the pulse by your words and presence. You cannot, you CANNOT, repeat this enough in your daily interactions with your team. You will feel like you are repeating yourself in annoying ways. But each of your team only hears you a small fraction of his or her day. Your words frame the day, maybe the week, when your team hears you. Communicate what you want them to remember.
Clarity galvanizes your marketing strategy, your prospecting and sales processes, and your operational muscle towards one goal, one vision, One Point on the horizon to run towards. Help them keep their eyes on the prize. It’s your responsibility. Executing well is how you win the year.
Ready to create clarity for your team, prospects, and customers?
Levi Kirwin, founder of Nissi Revenue Generation, translates founders’ and CEO’s vision for conquest into marketing strategy, brand storytelling, and sales process execution.
Levi Kirwin | 813-424-7812 | nissirg@proton.me
Cyber Security and It’s Importance to Your Small Business
Last week’s CrowdStrike software update resulted in outages for millions of Microsoft Windows users, potentially costing the economy billions of dollars and triggering cyber policy claims for numerous businesses worldwide. Today’s businesses depend on technology to thrive. However, with the benefits of technology come increased risks. Now is the time to review your current cyber insurance coverage. Determine which policies provide coverage, check notice of loss requirements, limitations, and any other coverage considerations. Watch this video from Central Insurance to learn how to protect your small business from a cyber attack.
Inspection Recommendations
Inspection recommendations have become increasingly crucial as Excess and Surplus (E&S) carriers have tightened their inspection protocols. To ensure compliance and secure the necessary coverage, it’s important to adhere to these stricter guidelines. By following detailed inspection recommendations, businesses can avoid potential coverage issues and maintain the high standards required by E&S carriers, ultimately protecting their assets and operations more effectively. Watch this VIDEO by Fusco Orsini & Associates Insurance Services X 4C to learn more!
Ellis Insurance Agency Client Center
Did you know about our digital customer service? You can use our Client Center to view your insurance policies, make payments, print insurance ID cards, update your contact information, download documents, and more!
