Insurance Blog

How to calculate the inventory protection you need for your Jasper-area business

Harris Insurance is proud to serve the insurance needs of the greater Jasper, AL area business community. If you are concerned about the amount of protection covering your inventory, we are here to help! Give us a call today, and let’s set up a time to review your insurance needs.

Calculating your inventory insurance coverage level

When it comes to protecting your business investments and assets, inventory coverage is often a confusing piece of the puzzle. Inventory levels can fluctuate in an extreme way, depending on how sales are going, how much cash is on hand to invest, and the costs of acquiring your inventory. And, if you are a seasonal business, it can make the calculation even more difficult. 

The first step is to review your inventory levels over the past three years. If there are any outliers that are due to non-recurring events or occurrences, they should be removed from your calculation. Take a look at the normalized average over the analysis period and then consider what changes you anticipate in the coming year.

If you expect delivery of goods and sales to continue on the same trajectory as the previous three years, then use those numbers to decide on the level of inventory protection you need, adjusting for any future anticipated changes.

We can help you with all of your commercial insurance needs

If you are the owner or manager of a Jasper, AL area business, you can turn to the team at Harris Insurance for all of your commercial insurance needs. We are knowledgeable about our local business community and have the experience and insight necessary to help our clients protect their businesses. Give us a call today. We look forward to working with you!

Home Insurance Misinformation Alabama Residents Should Learn About

Harris Insurance proudly serves the Jasper, AL community and the surrounding areas. We work closely with multiple carriers throughout the South. This allows us to offer flexible policies designed to meet the evolving needs of our clients. For over 20 years, we have helped residents face life’s challenges knowing that they are protected in any situation.

Home Insurance Misinformation Alabama Locals Should Learn About

Your Jasper, AL home is a significant investment. You’ve likely made a lot of sacrifices to become a homeowner. Home insurance protects your property against potential damages. Your possessions inside your home are also covered if damaged or stolen. Liability coverage is an asset. Accidents may occur at any moment. Liability coverage protects you if one of your guests is injured on your property. You are also covered if you accidentally damage someone else’s property. You can add alternative living coverage to protect you if your home suffers extensive damage and you have to stay somewhere else temporarily. Look over your policy carefully to avoid any errors.

Home insurance differs from flood insurance. If your home suffers flood damage after a natural disaster moving through the area, you are not covered unless you alter your policy. Flood damage differs from water damage, which could occur due to a broken pipe or drainage issues. Your policy also leaves you unprotected if you don’t take care of your home. Perform regular maintenance on your home to avoid long-term problems. If mold develops, this is a common situation where homeowners are left unprotected and may be forced to make tough decisions.

Harris Insurance Will Help You Obtain The Right Coverage

Contact our office to learn more information about home insurance.

6 Optional add-ons to a Jasper, AL auto insurance policy

Auto insurance is required. But that doesn’t mean you don’t have choices.

Minimum coverage is rarely sufficient. In Alabama, the state mandates only liability insurance. This law sets a baseline of $25,000 in bodily injury liability per person and a total of $50,000 for any accident. This also includes another $25,000 in property damage protection per accident. This is commonly listed as "25/50/25" coverage. This means these thresholds are the maximum payout you would receive from your insurance provider. 

For this reason, Harris Insurance recommends upping your coverage. Serving Jasper, AL, the agency lists six options to add to expand your auto insurance to gain more protection.

Collision

This covers damage to your vehicle in the event you collide with an object or another vehicle.

Comprehensive

All other damage falls under comprehensive coverage. This includes theft, vandalism, falling objects, or weather-related damage.

Uninsured motorist

If you are involved in an accident with another driver who has inadequate or lapsed coverage, this kicks in. It may reimburse for damage, bodily injury, and any medical bills.

Medical payments

As the name implies, this coverage pays for medical expenses following an incident. This applies no matter who is at fault.

Roadside assistance

Avoid being stranded. Roadside assistance helps with towing costs, battery jumps, flat tires, and other costs incurred if your vehicle breaks down on the roadway.

Rental car reimbursement

Following an accident, your car may need repairs or replacement. These policies fill in that gap, reimbursing for rental car expenses while your primary vehicle is being fixed.

Contact an agent in Jasper, AL

Bare minimum coverage is never the best. In the event of an accident, too little protection can lead to crippling out-of-pocket costs. Harris Insurance can evaluate your needs and find the right auto insurance policy for you. Call today.

Extra Coverage Alabama Business Owners Should Consider Adding To Their Commercial Insurance Policies

Harris Insurance serves the Jasper, AL community. We enjoy helping our clients obtain the coverage they need to live life comfortably. Searching for the right insurance policies can be complex at times. We assess each of our client’s personal situations so that we can help them obtain coverage that aligns with their personal needs. We aspire to build long-term relationships with our clients so that we can help them as their needs change in the future.

Extra Coverage Alabama Business Owners Should Consider Adding To Their Commercial Insurance Policies

The Jasper, AL economy thrives when local businesses are successful. As a local business owner, you are constantly brainstorming both short and long-term goals. Commercial insurance can help you stay on the right path. Your business is covered if your equipment is damaged or stolen. This gives you peace of mind if an accident happens, or you’re a victim of theft. Liability coverage protects your business if one of your customers is injured on your property. Worker’s compensation protects your business and assists your employees if there is an injury in the workplace. While you assess your commercial insurance policy, consider these potential add ons.

Errors & Omissions Coverage

This type of liability coverage protects your business if one of your employees is accused of negligence while performing a service.

Interruption Coverage

Severe weather can move through the South at any moment. If your property suffers damage due to a natural disaster, business interruption coverage will help you stay afloat. The policy covers your basic day-to-day operations until your property is repaired.

Cyber Liability Coverage

Due to the popularity of online transactions and storage files, consider adding cyber liability coverage. The coverage protects your business if you are the victim of a data breach.

Harris Insurance Will Help You Protect Your Investment

Visit our website to learn more information about commercial insurance.

Do all Alabama property owners need home insurance?

People that are in the Jasper, AL area will find this is a great place to own a home. When you are a property owner, it will offer you a consistent place to call home and can be a good long-term investment. When you are shopping for a property, you should also allocate time for going over your insurance needs. A home insurance plan could be needed for a few reasons. 

Coverage is Required by Lenders

A primary reason that you may need to get a home insurance plan here is that it will be required by your lenders. Taking out a mortgage is common for most people that buy a home. If you do take out a mortgage, it will provide you with the opportunity to purchase your home. However, there are rules that come along with it. Any mortgage lender is going to require that you carry a full home insurance plan until your loan is fully repaid.

Coverage is Required by Association

There is also a chance that you could be required to carry home insurance by a home association. Living within a home association can be a good idea as it can come with security and other amenities. If you are part of an association, you will need to meet and understand its rules. This often includes requiring property owners to carry home insurance. 

There are a lot of situations in which having home insurance will be a necessity and requirement. If you want to get a home insurance plan in the Jasper, AL area, speaking with Harris Insurance can be helpful. The team with Harris Insurance can help you identify your particular home insurance needs and help build a plan that will properly cover your home and keep you in compliance with any requirements. 

Why Basic Auto Insurance Isn’t Always the Best Choice

This is a common scenario. You are shopping for car insurance, and identify coverages that will protect you and your car optimally. But at the point of paying, you only settle for basic car insurance in the name of saving some bucks. But is this wise?

Purchasing basic auto insurance might seem like an excellent idea at first glance but may turn catastrophic when you are involved in a significant incidence. According to Harris Insurance of Jasper, AL, here is why basic car insurance isn’t always a good idea.

Required auto insurance in Alabama

Motorists in Alabama are required to include the below coverages in their auto insurance:

  • Bodily injury liability: This insurance policy protects you when you cause an accident, inflicting bodily harm to third parties. The required minimum amount is $25,000 per accident and a minimum of $50,000 for accidents involving several victims.
  • Property damage liability: It protects you when you are at fault for an accident that causes property damage to third parties. The minimum amount required is $25,000 per accident.

Now, should you settle with a car insurance policy that includes the above coverages, are you safe? Are the coverages sufficient to cover you in all facets of car ownership? The answer is no. At Harris Insurance, we usually advise our clients to increase coverage limits and consider other car insurance coverages.

Why basic car insurance is never enough

If you are settling for basic auto insurance, you need to upgrade because basic car insurance:

  • Has insufficient coverage limits: The insurance limits of "50/25/25" won’t suffice when involved in a severe accident. Uncovered car accident expenses mean that your assets will be at stake.
  • Covers third parties only: Basic car insurance doesn’t cover you and your car. That said, you need to consider comprehensive, collision, PIP, and other optional car insurance covers for optimal protection.

Are you looking to insure your vehicle beyond the minimum? If you are in Jasper, AL and its environs, please contact Harris Insurance for a well-rounded car insurance policy.

What Should You Know About Commercial Insurance

When you own your business, and you want to make sure that it is protected, you should consider getting a commercial insurance. Commercial insurance helps reduce your risk as a business owner and ensures financial protection for your employees. If you have never carried business insurance before, and you want to know more about it, Harris Insurance serving clients in Jasper, AL prepared a list of basics about this type of insurance: 

Things You Should Know About Commercial Insurance

  • There are several types of commercial insurance. They are commercial property coverage (covers commercial buildings and their contents), general liability (coverage to a business for personal injury, property damage, or bodily injury), professional liability (covers a business owner from damages caused by errors and mistakes), commercial auto insurance (covers vehicles used for commercial purposes), workers’ compensation (protects your employees), business interruption insurance (covers any loss of income that a company experiences after loss or disaster). 
  • Certain factors may affect the cost of your commercial insurance. These factors include the type of your business, risks, the number of employees, and others. 
  • Commercial insurance policies have their limit, and they do not cover everything. For example, they will not cover damages caused by flood or liability resulting from your own negligence. 

Harris Insurance Serving Jasper AL – Your Safety and the Safety of Your Business Is Our Priority

If you are a business owner running your business in Jasper, AL or any other surrounding town, Harris Insurance is ready to help you find a policy addressing your personal needs and preferences. Feel free to visit our website or give us a call if you need more information about the insurance options we offer. 

First-Time Home Buyers: A Guide to Insurance

Are you buying a home in the Jasper, AL area and have never purchased a home insurance policy before? Then, you need to contact us at Harris Insurance after reading this information. Doing so will help to make it easier for you to pick a policy that makes sense for your needs. 

Your Guide to Your First Home Insurance Policy 

The first thing that you need to do is start looking for a suitable policy before your home deal is fully settled. If you wait too long, there’s a good chance that you might end up missing out on an excellent policy opportunity. So instead of waiting, talk to an agent and discuss the value of your home – you’ll need an adjuster who can work with you. 

Then, you need to make sure that you understand a variety of different things that help to dictate what policy that you need. Just a few things to consider here include:

  • Total home replacement cost, which an agent can help you figure out 
  • The risk of your home getting seriously damaged by various issues 
  • Potential bundling options that could make your policies simpler 
  • The number of people living in the house with you 
  • Complications with your home that could occur due to natural factors 

These factors are critical because they can change and may ultimately undermine your policy if you aren’t safe. Once you’ve figured them out, you can choose a policy premium and deductible that makes sense for your home and your financial situation.

Finding a Suitable Policy 

If you need a great home insurance option that works well for your home, please don’t hesitate to contact us at Harris Insurance to learn more. Our team will give you the high-quality help that your Jasper, AL home needs to stay protected against common insurance problems.

Who Is Covered by My Auto Insurance?

Auto insurance protects you in the event of an accident or theft, which causes financial loss. Your Jasper, AL insurance company agrees to pay for your losses as outlined in your auto insurance policy in exchange for your premium payments. The biggest question most car owners have is, “Who is covered by an auto insurance policy?” Continue reading to learn more. Then call the experts at Harris Insurance to learn more about who is covered under your policy. 

Who Is Covered By My Auto Insurance? 

An auto insurance policy covers you and your family members listed on the policy. The covered family members are covered regardless if they are driving your car or someone else’s car with their permission. Additionally, your auto insurance policy covers someone else who, with permission, is driving your vehicle. 

Does My Auto Insurance Cover Commercial Purposes? 

Your personal auto insurance policy will not cover you nor anyone else listed on your policy when using the car for commercial purposes. For example, if you use your vehicle to deliver pizzas and get into an accident, the policy will not pay for damages. However, if you only use the car to commute to work, run errands or drive around town for personal reasons, your policy will cover any accidents during these trips. 

What Does Auto Insurance Cover? 

Your auto insurance policy covers you and the family members listed on the policy. Basic auto insurance policies cover property damage, liability, and medical concerning covered events, such as an accident or theft. 

Your auto insurance essentially protects you and other family members you have chosen to list your policy. In most cases, the ones who get listed on your policy are the family members living with you in Jasper, AL. For additional information about auto insurance coverage, reach out to the agents at Harris Insurance. They can help you learn more about coverage and find you a policy to fit your needs.

Ultimate Small Business Safety Checklist

Harris Insurance knows that when you own a small business in Jasper, AL, it is important to make sure your employees and customers are safe. Following is a small business safety checklist that could save you from needing to make a claim against your commercial policy.

  • Understand OSHA – The Occupational Safety & Health Administration requires that certain safety steps are taken to ensure the safety of your place of business and the employees and customers who visit. Check out OSHA.gov for specific guidelines.
  • Take a look around – Look for potential hazards and safety issues.
  • Proper Training – Provide proper training for safety. When the staff knows how to handle specific situations, there is a higher chance of a good outcome for all. You may even alleviate a potentially dangerous situation altogether.
  • First Aid – Make first aid a priority. Always have basic first aid items available.
  • Give Employees A Break – A lot of accidents happen because a worker became tired or fatigued on the job. Make sure that doesn’t happen by enforcing break time.
  • Have a Plan and Practice Prevention and Escape – Make a plan for any and all types of emergencies. Have a fire exit plan as well as a computer team in place to prevent a cybersecurity attack.
  • Keep Equipment Running – Make sure any equipment or machinery your business uses are in proper working order at all time and that safety gear is used properly.
  • Have Coverage For When Something Goes Wrong – As the owner, it is important that you make sure you have the proper coverage before something goes wrong.

Talk with your insurance agent at Harris Insurance serving Jasper, AL today to make sure you have the right amount and right type of coverage for your business.

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Harris Insurance

806 Hwy 78 W
Jasper, AL 35501

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