These policies have twofold protection. The first protection is for the tangible elements of your business, such as the physical building, merchandise, computers, etc. Basically, the pieces needed to actually operate the business. This policy also provides protection for injuries that may occur on your property. These can be injuries that coincidentally occur on-site, or injuries that occur while using or being a part of the business that you offer. Finally, it also protects against natural disasters, such as flood, hurricane, tornado, etc. Moran Insurance recommends that you understand your monthly expenses and income and the balance between them well before deciding how much coverage you need - they also recommend double checking that you have factored in all of your business's assets.

Homeowners Association Insurance
In many states, including the state of Florida, it is necessary for HOAs to have homeowners association insurance. This protects against a huge amount of potential damages and issues that can arise in an HOA governed neighborhood. Usually, these cover the HOA workers, general liability, as well as the properties within the community. Not all of these insurances are created equally, however, as basic policies will leave communities to pay out huge sums of money due to lack of sufficient coverage. Conversely, some coverage provides too much protection and becomes incredibly expensive. Thus, it is important to strike a balance between the two and find a policy, such of that from Moran Insurance, that provides both good value for the money as well as enough protection to be viable. There is also different types of HOA insurance, such as homeowners association hazard insurance.

Homeowners Association Hazard Insurance
While the HOA is required to have insurance, it does not cover the personal belongs of the homeowner. Thus, a hazard policy is needed. This is purchased by the unit owner and not the HOA, as the HOA insurance covers the physical building, property, and workers who work on it, but not the items or people inside. Thus, this is a separate policy that must be acquired by whoever owns or is renting each unit. Usually, this type of insurance protects against three main things. The first is natural disaster damage that may occur, such as typhoons or hurricanes. Secondly, it covers against vandalism of property or theft of personal items from property. Finally, it can also cover medical bills for members of the house who may have been hurt during either of these events. Or, it can cover hotel bills if the house needs to be vacant for repairs. The cost of these protections can vary widely, but it usually depends on the value of the items owned.