What is a Business Owner’s Policy (BOP)?

You’ve worked hard to grow your small business. But how do you know you have the right type of insurance coverage for your needs and industry? That’s where having a business owner’s policy (BOP) is a good idea for most companies.

Our team at the OFS Insurance Agency LLC in Clinton, MS wants to help. We’ve put together this brief guide explaining what a business owner’s policy is and why you need one to ensure you’re protected.

What is a Business Owner’s Policy (BOP)?

A business owner’s policy (BOP) is a commercial policy that includes the benefits from both business liability and business property coverage. Often, purchasing your policy this way is much more cost-effective than buying individual ones for the same protection level.

The best part about a BOP is that it can also be customized to fit your industry and operations. If you have a physical location, you can tailor it to include situations where customers visit your business. And if you physically visit customers, there are options to extend your policy, too. There are tons of possibilities, so it is always important to talk to your agent about why a BOP is a wise idea for your business.

Why Should Small Businesses Invest in a BOP?

There are many reasons why a small business should invest in a BOP. Every industry comes with a certain amount of risk, so ensuring you have the right insurance for your needs is important. A BOP gives you the maximum amount of protection in a package that is usually quite affordable compared to dealing with having to replace business equipment out-of-pocket or settling a costly lawsuit on your own.

Are you ready to learn more about buying a commercial insurance for your small business in Clinton, MS? Please contact our team at OFS Insurance Agency LLC today for a no-obligation quote.

Who needs to get home insurance?

In the Jackson and Clinton, MS area, there continue to be many reasons to own a property. If you would like to be a property owner here, you will find many advantages. When you buy a property in this area, you will want to get a proper home insurance plan. There are several situations when someone will need to get a full home insurance plan.

When Taking out Financing

When someone in the Jackson or Clinton area needs to get home insurance, they usually take out financing. Using a loan to buy a home will continue to be a great way to purchase a property. However, some rules need to be met along the way as well. If you are going to purchase a home here, you need to get a home insurance plan that meets your lender’s standards. 

When Trying to Protect Property

You will also need to get home insurance when you want to protect your property. Your home is a very major and important asset that needs to be covered and protected as well as possible. If you get a home insurance plan, it will give you the needed coverage in the event your home is damaged.

Those who want to protect their home in the Jackson and Clinton, MS areas need to make sure that they get guidance from someone they can trust. The team at OFS Insurance Agency, LLC can help you build a policy that is ideal for your situation. OFS Insurance Agency, LLC can do this by spending the time needed to assess your needs and build the right policy for your situation. 

What is renter’s insurance?

When you rent an apartment or home in Clinton, MS, you do not need to insure the property because your landlord’s insurance policy covers it. You do need to insure your belongings and insure yourself against liability. You can obtain a renters insurance policy from OFS Insurance Agency, LLC to protect your property and your financial future.

Property Coverage Explained

A renters’ insurance policy protects you in two important ways. The policy covers your personal property, such as furnishings, clothes, computers, stereo, TV, etc., against named perils. Named perils means specific unexpected events such as a tornado, thunderstorm, hurricane, fire, etc.
You can typically choose from two types of coverage:

  • Cash value
  • Replacement value

If you choose cash value, you will receive the depreciated value of the damaged item. If you purchased a TV for $500 five years ago, you get reimbursed for the TV’s current value.

If you choose replacement value, you will receive the cost of purchasing a brand new TV. The tradeoff is simple. Replacement value premiums generally cost a bit more than cash value premiums. Your claim would not cost as much to pay off with cash value.

Liability Coverage Explained

Yes, your landlord has liability insurance, but it only covers their liability. If you fall while entering the building and need to go to the doctor for a sprained ankle, their insurance covers it. If your parent visits your apartment and slips in the bathroom, spraining their ankle, your renters’ insurance policy covers the liability and reimburses their medical costs. Your landlord’s coverage does not cover what occurs inside your private domicile – the living quarters you rent from them. Your renters’ insurance policy covers your liability.

Contact OFS Insurance Agency, LLC of Clinton, MS to learn more about renters’ policies and the add-ons you can include to make this insurance work best for you. You need extra coverage if you run a home business or want to have coverage for a hotel when your apartment incurs damage.

RV Insurance Coverage Types

OFS Insurance Agency, LLC serves the state of Mississippi with RV insurance to protect you whether you park your motorhome on a lot in Clinton, MS, or you explore the many parks and scenic routes of our state. You need the right insurance, though, and to purchase the right policy, you need to decide in advance how you want to use your RV.

If you want to drive it on the road, you need to insure it in the same way you would an auto. You will carry liability, bodily injury, and add items like collision or personal injury protection (PIP). You cannot use your auto insurance, though. You must have a separate policy for your motor home.

Think about adding roadside assistance since changing a tire on an RV makes for a road trip challenge no person wants. You also get two choices auto insurance does not offer – contents and full-timer coverage. Contents cover your belongings inside your RV. That includes the appliances, your luggage, etc. Full timer coverage covers the RV like home, so those who live in it year-round have a sort of homeowner’s RV policy. You need this if you will park it in one spot and live in it there. If you just want to use it on vacation at one campsite, whether for months or weeks, you need a campsite liability policy. You do not need a separate policy on a towed pop-up camper and trailer.

You do need to insure a Class-A, Class-B, or Class-C motorhome. Since many sizes of RV exist and which coverage types you choose affect your costs, we cannot provide a flat rate cost.

Call or email OFS Insurance Agency, LLC to learn how you can protect your motorhome investment. We serve the Clinton, MS metro area, and the state with the RV policies it needs.

Inaccurate Information About Motorcycle Insurance Mississippi Residents Should Avoid While Researching Policies

OFS Insurance Agency, LLC serves the Clinton, MS community, and the surrounding areas, by offering people multiple types of insurance coverage. We are committed to helping our clients find insurance coverage to protect their most important assets.

Inaccurate Information About Motorcycle Insurance

Many people enjoy exploring the scenery around Clinton, MS on their motorcycles. If you enjoy traveling around through the area on your motorcycle, it’s important that you have coverage. Motorcycle insurance covers you if you are involved in a collision. You’ll also be covered if your motorcycle is vandalized and needs repairs. While you are researching different policies, avoid reading some of the inaccurate information regarding motorcycle insurance.

You may read that you can let other people ride your motorcycle and not be responsible because they have insurance. This is not true. If you let someone else ride your motorcycle and they are involved in a collision, you may be held responsible for their actions. It’s important that you are the primary operator of your motorcycle, and if you choose to let someone else use it, they should be someone you trust.

You may read that coverage is unnecessary as the season changes, and you aren’t riding your motorcycle regularly. Your coverage is an asset while you have your motorcycle in storage. Accidents happen, and you may accidentally knock over an object that cracks your motorcycle. Having coverage will give you peace of mind during that situation.

You may read that having a speeding ticket may impact your policy. This is incorrect. While you should strive to operate your motorcycle safely at all times, your policy will not be impacted by one minor speeding ticket.

OFS Insurance Agency, LLC Will Help You Find Coverage Before Your Next Ride

Visit our website to learn more information about motorcycle insurance

Three things to remember when you’re selecting a boat insurance policy

Boat insurance is vital to cover you against liability damages. Boat insurance is also essential to protect the investment you make in your boat. We can help you find an acceptable boat insurance policy to cover your watercraft at OFS Insurance Agency, LLC.

The following are three things you should remember when you’re selecting a boat insurance policy in Madison, Jackson, or Clinton, MS.

The distinction between actual cash value and agreed value policies is important.

One choice you’ll probably have to make is whether you want an actual cash value policy or an agreed value policy. An actual cash value policy compensates you less in the event of a total loss. That’s because actual cash value policies reduce the amount you get on claims based on the depreciation of your boat’s value.

An agreed value policy means you’ll get back a predetermined amount in the event of a total loss that won’t change over time. An agreed value policy offers better coverage and means you’ll generally get more for claims. 

You might enjoy savings by bundling policies.

When you buy boat insurance, it’s a good idea to look into bundling discounts. If you buy your boat insurance and other types of insurance from the same provider, you may be eligible for discounted coverage. 

It’s a good idea to get 100 percent salvage coverage. 

When it comes to boat insurance, salvage coverage is essential. Salvage coverage pays the costs of retrieving a boat that has experienced an accident out on the water.

Boat salvage can be expensive, but you may be required to pay it to remove boat debris in the event of an accident. Investing in a policy with 100 percent salvage coverage can be a financial lifesaver if you ever get in a severe boating accident. 

Do you have questions about boat insurance in Jackson, Madison, or Clinton, MS?

We can help you find the answers you need to make the right insurance decision at OFS Insurance Agency, LLC. Get in touch with us to learn more.  

Three things to keep in mind when buying insurance for your motor home

Whether you enjoy taking your home on wheels around the beautiful Mississippi countryside, or you prefer it parked in your garage, having enough insurance is the best way to earn the peace of mind that your investment is in safe hands. A motorhome is a significant investment that requires a substantial amount of coverage in case the unexpected happens. If you need motorhome insurance, OFS Insurance Agency, LLC in Clinton, MS can help you find a policy that works for you based on your budget and style. Here are three things to keep in mind when buying motorhome insurance.

Double-check your limit

Never sign a contract without reading through it. Your motorhome insurance should come with terms and conditions which are vital for you and your insurance provider. Therefore, make sure you understand everything and confirm the risks covered. Some policies have stringent limits on various categories.

Buy enough coverage

A recreational vehicle is an expensive asset and needs a vast amount of coverage to cover most risks adequately. Insurance needs may vary from one policyholder to another. Depending on how you intend to use your motor home, you may have different insurance needs from another motorhome owner in Clinton, MS. If you are using your motorhome regularly, you may need adequate liability coverage. Similarly, don’t overbuy; just buy the coverages that you need.

Where you store your motorhome matters

For most insurance companies, where you store your motorhome has significant importance. They will typically calculate your premiums based on the postcode it is stored. The quiet streets and rural countryside locations attract lower rates as they are considered averagely safer than bustling city centers. The principle also applies to policyholders storing their motorhomes at home.

Finding motorhome insurance is no longer a daunting task. The process is relatively straightforward, and you don’t have to go through it alone. OFS Insurance Agency, LLC is here to ensure that your journey is as smooth as possible. Contact us today!

What are the advantages of flood insurance?

When you are in the Clinton, MS area owning a home can be a great long-term option. If you are going to purchase your own property, it is always a good idea to make sure that it is adequately covered with insurance. For those that are in certain areas, getting a flood insurance policy on top of their home insurance is a great option. Many advantages come when you do invest in a flood insurance policy. 

Appropriate Coverage for Flood Damage

One of the main advantages of a flood insurance policy is that you will receive appropriate coverage for flood damage. Someone that lives near a river, lake, or other waterways will want to make sure that they are fully covered if a flood occurs. When you have flood insurance coverage, you are going to be protected if your home is damaged. This will ensure you can repair or rebuild your property.

Meets Lender Requirements

Depending on where you live in the state, there is a chance that you are at a high-risk zone for flood damage. If you are in a high-risk zone, your mortgage lender will very likely require that you carry flood insurance. In many situations, you will also be required to escrow for your payments on a monthly basis. 

Getting a flood insurance policy is always a good idea for those that are at risk of flood damage. If you are in the Clinton, MS area, you should call OFS Insurance Agency, LLC to discuss your needs. The insurance team at the OFS Insurance Agency, LLC will be able to answer any questions you have about your flood insurance needs. We can determine if it is right for you and help you to get into a policy. 

Does My RV Insurance Cover my Belongings too?

OFS Insurance Agency, LLS offers residents in Clinton, MS who own RVs advice on how to protect their items while they are traveling. If you have the right type of RV insurance, it will cover your possessions while you are on the road. The key is understanding how to protect what you have so that your risk of a break-in is low, and your family remains safe and secure.

Keep Track of What You Have

Keep a running inventory of what items you have in your RV. A photo or video inventory is a great way to show what you have and the condition of each item. Make sure your list is detailed and that several copies are made. You should keep your copy in a safe place and give one to your insurance agent.

Take Steps to Protect Your Property

There are several steps you can take to protect your property. Keep your RV locked at all times. It’s also a good idea to keep items of value out of sight. Always make sure items are correctly put away before you leave and keep the curtains pulled so that the view inside is limited.

In Clinton, MS, the agents of OFS Insurance Agency, LLC have the experience they need to assist you with all of your insurance needs. Always be aware of your surroundings and take the necessary steps to protect your possessions. Before you take off on your next adventure, make sure to contact your agent and let them know what you are doing. We can offer you several ideas on how to make your trip the best one ever. Find out what tips we have by calling us today!

Scenarios Motorcycle Insurance Can Protect You Against In Mississippi

The moment you buy a motorcycle in Clinton, MS, you have to make sure that you get motorcycle insurance. Not only is an insurance policy critical to stay compliant with the state but also to protect you against various scenarios. At OFS Insurance Agency, LLC, our agents can work to customize a policy for you.

Once you register your vehicle, you will need to show proof of motorcycle insurance. The state of Mississippi requires you to have liability coverage over bodily injury and property damage. You would be protected in various scenarios where you’re involved in an accident with another vehicle.

What other scenarios are you protected against?

The reality is that you never know what could happen on (and off) the roads of Clinton, MS. If you are injured or your bike gets damaged, you want to know that you have sufficient protection with your insurance. You should be able to file a claim, pay the deductible, and let the insurance company take care of the details.

What happens if your bike wipes out on road debris or your bike gets stolen at your home? You have to expect the unexpected when you begin customizing your motorcycle insurance policy.

By adding various riders and levels of coverage, you can protect against all sorts of scenarios including:

  • Injuries to you and your passenger
  • Damages as a result of a collision
  • Damages as a result of a storm
  • Vandalism
  • Theft

Don’t assume that your home insurance policy will cover theft, even if your bike is parked inside your garage. By working with an agent, you can discuss just how comprehensive your policy can be. This way, you’re protected against more scenarios that could occur at any time throughout the year.

When you’re ready to focus on a motorcycle insurance policy in Mississippi that you can count on, call us at OFS Insurance Agency, LLC today.