Required Commercial Insurance in Nebraska

Every state has its own rules about how small businesses operate. Part of those rules is the types of commercial insurance your business must-have. There are two that are required by Nebraska law, but there are also other types that can add to your legal and financial protection. For more information, call us at the Ed Thompson Insurance Agency in Omaha, NE.

Commercial Auto Insurance

When your business owns a vehicle, it’s required for each of these vehicles to be covered by a commercial auto insurance policy. If you try to get by with a personal insurance policy on the vehicle, it will not only be illegal, but the personal policy likely won’t pay out if there is an accident. The commercial policy that you have must have a specific, state-mandated minimum for bodily injury liability for the accident as a whole as well as per person injured. It must also have a specific amount of property damage liability. The policy must also have the legal minimum of coverage for an uninsured motorist protection per accident and person. If you have a vehicle that gets used for business a lot but is not owned by the business, it should have a hired and non-owned coverage policy. 

Workers’ Compensation Insurance

Nebraska’s law requires that every business that has any number of employees must have workers’ compensation insurance coverage. This is true, no matter how many employees you have and whether they are part-time or full-time. This coverage helps the workers by having coverage available to pay their medical bills for accidents and sicknesses that occur on the job. It also helps the business by having that coverage in place so that the medical bills don’t have to be paid out of pocket.

Talk to an Insurance Agent

If your business needs commercial insurance, call us at Ed Thompson Insurance Agency in Omaha, NE to talk to an insurance agent about your business and its commercial insurance needs.

Why would I get home insurance in Omaha?

In the Omaha, NE area, owning a home can be a great long-term option. Those that are property owners will be making a big investment, which should be properly protected. One of the best ways to do this is by getting a home insurance policy. There are several reasons why someone here should consider getting home insurance. 

Insurance Offers Valuable Coverage and Protection

One reason you should get home insurance when you are in Omaha is to give you some beneficial coverage. With home insurance, you will get the coverage that can help repair or rebuild your home if it is damaged. Additionally, you will receive a liability coverage plan that will give protection if you or your home are found at fault for an injury or property damage. During some difficult situations, this will prove to be extremely helpful when you have coverage. 

Insurance is a Requirement for Many

You will also want to get home insurance for your Omaha property because it could be a requirement for you. Many people in this area end up being required to carry home insurance at all times. If you have taken out a mortgage or live in a home association, you likely have home insurance requirements. It is important to fully understand what these requirements are and get a policy that matches them. 

As you are looking for a home insurance policy in the Omaha, NE area, you should speak with the team at Ed Thompson Insurance Agency. If you speak with the insurance team at Ed Thompson Insurance Agency, you can learn far more about the different options you have. This can help ensure that you get into the best policy possible. 

5 Terms You Should Know About Home Insurance

Homeowner’s insurance is a complicated topic. When you talk to an agent, it would be helpful if you know some of the more common terms you’ll come across. The team at Ed Thompson Insurance Agency of the Omaha, NE area can also make this language clearer for you if there are still things that you don’t understand.

  • Blanket Coverage: This is when your insurance policy has just one limit of insurance for multiple items. For instance, you would get a certain amount for three buildings on your property instead of having them scheduled separately for individual amounts. 

  • Claim: This refers to requesting that your insurance company pays you when you’ve had a loss. Once the company validates the claim, you’ll receive your payment. 

  • Depreciation: This refers to a decrease in your property’s value (whether it’s your house, oven, roof, etc.) when it’s had wear and tear or it has become obsolete. 

  • Replacement cost value insurance (also known as RCV): This is coverage that pays to replace or restore something that’s been destroyed or damaged. This will restore it to the condition that it was in before the damage occurring.

  • Rider: Though it’s typically used for life insurance, a rider may be applied to other types of insurance if you need additional coverage beyond what’s stated in your policy. 

Serving the greater Omaha, NE region, Ed Thompson Insurance Agency has provided assistance to many returning and new clients over the years. If you are looking for home insurance or another kind of insurance that fits your needs, contact us today with your questions and concerns. 

Who needs to get auto insurance in Omaha?

Those that live in the Omaha, NE area will likely need to own a car if they want to get around the city. If you are a car owner here, it is vital that you follow the rules while also taking good care of your car. One great way that you can do this is by getting an auto insurance policy. There are several reasons why someone may need to get auto insurance for their vehicle in Omaha.

Required by State Law

One of the reasons you may need to get an auto insurance policy is that it could be required by state law. If you are in Nebraska and want to drive a car on a public road, you will continue to be obligated to carry auto liability insurance. This coverage can ensure that you can pay for damages if you cause an accident that results in property damage or bodily injury.

Auto Loan Requirement

Another reason that you may need to get an auto insurance policy is that your auto lender could require it. If you lived in Omaha and took out a loan to buy the car, you need to spend time reviewing your loan agreement. It will likely have certain auto insurance requirements that you will need to meet. 

When you are going to get an auto insurance policy in Omaha, NE, you should speak with the team at the Ed Thompson Insurance Agency. When you reach out to the Ed Thompson Insurance Agency, you can get excellent guidance and support. Choosing an insurance policy is a big decision, and it can be challenging to pick the one that is right for you. When you contact this agency, we will give personalized support that you need. 

What Happens if a Business Doesn’t Have Commercial Insurance

If you operate a business, then it is all but a necessity that you have commercial insurance to protect both the company and your employees. In fact, Nebraska law requires that all small businesses – regardless of the number of full or part-time employees – carry both workers’ compensation insurance and commercial auto insurance if there are any company vehicles. Workers’ compensation insurance covers the cost, up to your policy limits, of any work-related injuries or illnesses. In contrast, commercial auto insurance ensures that regardless of whether they are driving a company vehicle or their personal vehicle on company time that they are covered for any accidents. 

Failure to carry commercial insurance can have serious consequences. For starters, you would be in violation of state law, which could result in substantial fines and other serious legal repercussions. Also, if one of your employees is injured while on the job or a vendor slips and falls at your location because of negligence, then you would be on the hook for all of their medical expenses and damages if sued, which ultimately could cost you the business. As a result, carrying commercial insurance offers substantial peace of mind and protects your livelihood from potential financial ruin. 

When it comes to shopping for commercial insurance, it is imperative to choose a company that has your best interests in mind. Consequently, if you are in the Omaha, NE area, look no further than the Ed Thompson Insurance Agency. With our vast experience in the insurance industry, we are uniquely positioned to help you find the right policy for your needs and are committed to earning your business today and into the future. Give us a call today to schedule your no-obligation consultation with one of our friendly and knowledgeable insurance professionals. 

Hidden Home Insurance Facts That Nebraska Residents Should Be Aware Of

Ed Thompson Insurance Agency assists Nebraska residents by offering them multiple insurance policies. We are committed to helping our clients find the coverage that they are looking to acquire.

Home Insurance is Essential

Ed Thompson Insurance Agency believes that homes are valuable pieces of property. That’s why we advise all of our clients in Omaha, NE, and the surrounding communities to consider purchasing home insurance. Home insurance will cover your home if it is damaged due to a natural disaster or if someone breaks into your home and steals your valuables or vandalizes your property. While you are researching different policy options, here are some vital home insurance facts that you may not be aware of.

Your Belongings Are Important

Make sure that you have an accurate valuation of your belongings. That will help you figure out how much coverage you need. Consider doing a home inventory and recording the details of your items.

You May Be Able To Reopen A Claim

If your home is damaged by a natural disaster such as a tornado or a fire, your home insurance policy will cover the damages. If you discover damages that you were previously unaware of, you can reopen the claim to see if those damages are covered.

Living Near A Fire Department May Impact Your Policy

If your home is near a fire department with a reputation for providing excellent service, that may impact your home insurance policy

Your Credit History Is Important

Your credit history may influence your home insurance policy. That’s why you should always try to maintain a good credit score.

Ed Thompson Insurance Agency Can Help You

Stop by our office in Omaha, NE, so that we can assist you today!