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Do Rideshare Operators Need Commercial Insurance?

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Wai Cheng Insurance Inc. is dedicated to providing the residents of Bay Area, CA with top-quality insurance products for commercial needs. If you would like to learn about the range of products and services we offer, don’t hesitate to reach out to us, and we will provide you with the information and assistance you need to get Reliable Insurance protection.

Commercial Insurance Protection 

Freelance operators and rideshare contractors must carry a specific level of commercial auto insurance if they work for major companies such as Uber and Lyft. If you’re a rideshare provider or considering this line of work, you’ll need assistance choosing the right type of insurance coverage to meet company specifications.

Having the right Insurance not only protects you but protects your riders too. If you want to learn more about commercial auto insurance or any of the products or services we offer, you can count on our experienced team of professionals to give you the information and support you need.

If you want a commercial insurance policy, we can outline the terms and conditions, so you can be an informed consumer. We assist with obtaining the insurance policy and provide you with support for any future changes during the lifetime of the policy and claim submissions.

Reach Out Today 

If you would like assistance learning more about commercial auto insurance or any commercial policies we provide, we will be happy to help. Please feel free to call or stop by the Wai Cheng Insurance Inc. office, proudly serving the residents in and around the Bay Area, CA region. Get the insurance protection you need to feel confident while participating in a rideshare driver program.

From Earthquakes to Wildfires: Why Umbrella Insurance is a Must-Have for Californians

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While living in California is a dream for many Americans, there are also a few downsides to living in the Golden State. California is prone to natural disasters like earthquakes and wildfires that can wipe out a family’s home and bank accounts– in an instant. Umbrella Insurance can add an extra layer of insurance coverage that can mitigate risk and help reduce out-of-pocket expenses caused by natural disasters. 

Having the right umbrella insurance policy in place can help Californians shield their wallets against unexpected out-of-pocket expenses that can devastate their personal finances. 

A licensed insurance agent at Wai Cheng Insurance Inc. in Bay Area, CA can provide the best information about how to add umbrella insurance coverage to your existing home insurance or automobile policies in California. 

Why Umbrella Insurance is a Must-Have for Californians

Damage to homes and property are primary reasons why more Californians are opting to boost their insurance coverage by getting umbrella insurance.

Recovering from the damaging effects of a total loss of a home or property can take years without the right insurance in place. Loss of valuables, nearby property damage, and other legal liabilities that stem from natural disasters and other related perils are additional reasons why having umbrella insurance is crucial for people living in high-risk areas. 

Don’t get caught without umbrella insurance! 

Talk to a knowledgeable and friendly umbrella insurance agent at Wai Cheng Insurance Inc. in Bay Area, CA instead. Our licensed agents and supporting insurance team can help you and your family make the best decisions about choosing an umbrella insurance policy as an add-on to your existing insurance policy. 

Contact an agent today to learn about your coverage options and get a free quote! 

Is having a home insurance plan always a good idea in California?

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One of the best investments that someone in the Bay Area, CA area could have made in recent years was to purchase a home. This area of the country has continued to see sizable increases in property values, which has made it a great place to own real estate. If you are going to purchase a home in this region, you will want to have insurance for it for multiple reasons. 

Protect Your Home

A great reason to have a home insurance plan when you are here is that it can ensure you are able to protect your property. There will always be a risk that your home could be damaged in a fire, accident, or bad storm. If you are not insured, you will need to cover the costs out of pocket. With insurance, you will have the support needed to cover these costs. 

Reduce Liability Risks

It is also a good idea to get a home insurance plan to reduce your liability risks. If you own a property, you can be held liable if there are damages resulting from an accident on your property. If you are not properly insured, you will not have support. Your home insurance plan will provide a certain level of personal liability coverage in these situations. 

Reach Out To Us

No matter where you live in the Bay Area, CA area, you will want to have the right insurance in place for your home. When you are looking for a new home here, it would be smart to call our team at Wai Cheng Insurance Inc. At Wai Cheng Insurance Inc., we know the complexities and importance that come with choosing a home insurance plan. With our support, you can build a policy that is ideal for your situation. 

Will my auto insurance cover the damage from the tree that fell on my car?

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Fortunately, auto insurance covers many situations and circumstances ranging from personal injuries and damage to other people’s property, as well as damage to your own property. Although most states require drivers to carry auto liability insurance, there are other forms of auto insurance that cover a wide range of other circumstances and situations.

Our Bay Area, CA team at Wai Cheng Insurance Inc. is committed to helping California drivers get the insurance coverage they need.

Will my auto insurance cover the damage from the tree that fell on my car?

As a California driver, you are required by law to carry the state minimum auto liability insurance coverage. However, this coverage only covers damage or personal injuries you may cause to others. It doesn’t cover any damage to your vehicle, your injuries, or any non-moving incidents that may cause damage to your vehicle.

However, there are other forms of auto insurance that cover all of these situations. Any damage your vehicle may receive as a result of poor weather conditions, falling branches or limbs, or any number of non-moving situations or accidents is covered by comprehensive auto insurance. This is the only kind of auto insurance that will cover any incident that involves damage as a result of a natural disaster, vandalism, or theft.

Other Forms of Coverage

Comprehensive insurance coverage provides protection from accidents and damage caused by non-moving accidents and circumstances, meaning incidents that happen while your vehicle isn’t being driven. Collision coverage covers the repair or replacement of your vehicle if it is damaged in a car accident. 

Looking for Insurance in Bay Area, CA?

If you have more questions regarding auto insurance and what’s covered, call us at Wai Cheng Insurance Inc. We’d be happy to help you explore your options and answer all of your questions. 

The Top 4 Risks Your Business Needs Commercial Insurance Coverage For

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Our team at Wai Cheng Insurance Inc understands that running a business in the Bay Area, CA is hard enough – the last thing you need to worry about are potential risks. That’s why commercial insurance coverage is essential for protecting your business from unexpected and costly damages, losses, or lawsuits. 

Let’s take a look at the top four risks your business needs commercial insurance coverage for: 

Risk #1: Property Damage and Losses 

From natural disasters like wildfires and floods to theft or vandalism, property damage can be devastating for any business. A comprehensive commercial policy will cover physical assets such as buildings, furniture, inventory, and equipment in the event of an accident or disaster. Without it, your company could be left to shoulder the entire cost of repairs or replacements. 

Risk #2: Liability Claims and Lawsuits 

Accidents can happen anytime, anywhere – and if someone is injured on your property, you will be liable for medical costs, damages, or other expenses. A commercial insurance policy provides the financial protection needed to cover these claims and lawsuits, so you won’t have to worry about a costly legal battle. 

Risk #3: Business Interruption and Loss of Income 

If an accident or disaster forces your business to close its doors temporarily, income will be put on hold while you rebuild. Thankfully, some commercial policies provide coverage for lost income during this downtime period, allowing companies to get back on their feet faster after difficult times.  

Risk #4: Cyber Attacks and Data Breaches 

Given the rise of cyber attacks, data breaches are becoming more and more common. This means that sensitive information like customer records, financial data, or employee information can be exposed to malicious actors who use it for their own purposes. A commercial policy with cybersecurity coverage will help protect your business by providing funds for recovery efforts in the event of a breach. 

We Can Help!

At Wai Cheng Insurance Inc, serving the Bay Area, CA, we understand how important it is to have protection against potential risks. Our experienced insurance agents will work with you to find a commercial policy that fits your business needs. With our help, you can rest easy knowing that your company is covered in case of any unexpected damages, losses, or lawsuits. Contact us today to get started! 

How Home Insurance Protects You

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Everyone who owns a home should have home insurance from the first day that they own the home. That policy should stay in effect until the day they sell their home. A homeowner should never be without these policies so that they are always well protected. To get a policy for your home, call us at Wai Cheng Insurance Inc. in Bay Area, CA. 

Why Home Insurance

Protection for Your Home

Your home is your most important asset, and you need to protect it with a home insurance policy. These policies offer protection against a number of risk types from accidents to specific disasters. When an event happens that damages your home, you could be out many thousands of dollars in repair costs. The policy will pay for those repairs so it won’t all be up to you to come up with the funds. 

Protection for Your Liability

Another type of home protection offered by this insurance is the liability coverage it includes. When someone from outside your household comes in and has an injury in your home, you would be liable for all of their costs. This may include the legal costs, lost wages, and any medical bills that stem from the accident. 

Protection for Your Possessions

When you have home insurance, it also protects all of the possessions that you have inside your home. A damaging incident like a natural disaster can ruin your possessions or completely destroy them. When this happens, the policy will be there to pay for you to get the items you need to replace what you lost. Your possessions add up to a lot of value, and they need protection just like your home does. 

Protect Yourself With Home Insurance

If you own a home and need insurance for it, call us at Wai Cheng Insurance Inc. in Bay Area, CA.

6 Times You Should Review Your Auto Insurance Coverage

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When you buy auto insurance at Wai Cheng Insurance Inc. serving Bay Area, CA, you should know that you also need to review your auto insurance coverage when certain life events occur.

These include:

1. When You Move to a New Location

Your residence determines in part how much your insurance premium is. It also needs to be documented in your policy. Whenever you move, notify your insurance representative so they can make any necessary adjustments, even if you only move across town.

2. When Your Commute Changes

If you get a new job and your commute changes, let your insurance rep know. The change in the distance you travel for work may mean that your premium also changes.

3. When You Divorce or Marry

Your relationship status factors into how much you pay in premiums. A quick call or email to your insurance representative is all it takes, but be sure to let them know.

4. When Your Child Turns 18

If you have a child who’s on your auto insurance policy and has turned 18, be sure to let your auto insurance rep know so they can make any adjustments necessary to your policy.

5. When You Buy a Home

If you buy a home, you’ll likely need home- and auto insurance. Bundling these two products—and possibly with life insurance as well—can save you money on your insurance. Contact your representative to discuss your options in this situation.

6. When Your Credit Score Improves Significantly

Your credit score is a factor that is considered when your premium is calculated. If you have a significant increase in your credit score, you may want to talk to your insurance rep for a possible adjustment.

Get The Right Coverage For Your Needs

Contact Wai Cheng Insurance Inc. serving Bay Area, CA whenever any of these events occur in your life. We will make sure you have the right auto insurance policy for your needs. 

When you buy a house do you need home insurance at closing?

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When you buy a home in the Bay Area, CA, you’ll need to purchase home insurance to cover it against loss. At Wai Cheng Insurance Inc. we understand that if you have never purchased a home before, you might not know that you’ll need to obtain your insurance policy before you close on your home.

When to purchase home insurance

That might sound strange, but you must purchase home insurance before you own the home. Most mortgage lenders require proof of purchase of home insurance at the closing. The term closing refers to a meeting at which you sign all of the paperwork and finalize the home’s purchase. Your bank or credit union requires certain paperwork at this meeting to show that you’re ready to take possession of the home.

A home insurance policy that meets the requirements of the mortgage lender tops the list of needs. Home insurance provides the bank with assurance that if something happens to the home to reduce its value, such as a fire or tornado causing damage, the bank won’t lose its investment. That’s called risk reduction.

When a lender provides you with a mortgage to purchase a home, until you pay the mortgage, the bank actually owns the home. Each payment you make on the mortgage earns you equity in the home. Once your equity equals 100 percent, you own the home.

When you buy a home policy to close on a home, the policy uses an insurance binder, a temporary agreement between the insurance company, in this case, Wai Cheng Insurance Inc., and you. The policy becomes permanent when you close on the Bay Area, CA house.

Preventing Slip and Falls at Your Business

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At Wai Cheng Insurance Inc., we serve Bay Area, CA companies with commercial insurance to fit their needs. We also take pride in helping businesses maintain lower rates by assisting them in managing risks. One of the significant risks businesses face is liability claims from slips and falls.

Here are some tips for preventing slips and falls at your business:

Addressing Known Issues is Key

It is important to note that businesses are more likely to be found liable for injuries sustained in a slip and fall if it can be shown they were aware of the cause of the slip and fall and failed to respond by addressing it promptly. This is why it is critical to fix a potential area of danger when it is noticed.

Have Appropriate Materials to Address Leaks

Make sure you have signage to identify areas that may become temporarily wet. These can include mini-sandwich boards, bright-colored pylons, and caution tape.

Highlight Level Changes

Use yellow paint to identify curbs and step edges. Stripes can help identify ramps. This makes these hazards easier to see for vision-impaired visitors.

Train Staff

Make sure your staff knows the significance of slips and falls, and knows how to address potential issues. They also should note if they also should note whether the fall occurred in a restricted area, if the person was running, or wearing inappropriate footwear.

As a business owner, it is your responsibility to provide a safe environment for visitors and customers. Preventing slips and falls is a good place to start.

Get Insurance Coverage To Protect Your Business

Wai Cheng Insurance Inc. offers Bay Area, CA businesses property and liability insurance to protect their investment. Business and commercial insurance can protect income, vehicles, real estate, inventory, and more. Contact us for your commercial insurance review and price quote today.

Don’t Be Left Out In The Rain Without Umbrella Insurance For Your Business.

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If you already have a commercial insurance policy you may assume that you are protected from anything that can come your way. However, commercial insurance is only for specific instances and while important, it is also more generic than some businesses need.  Wai Cheng Insurance Inc. serves the Bay Area, CA with quality insurance services. We can provide the exact umbrella policy for your unique needs. 

Why Should You Consider an Umbrella Policy for Your Business?

Umbrella insurance can provide specialty coverage for businesses that have unique assets or risks that are not covered under broader insurance policies. For example, a general use would be if your current policy covers X amount of loss, but you know your product is worth more than that. The umbrella could make up the number difference and reduce your risk if something goes wrong. 

Another example of umbrella insurance is to cover a specific risk that may not be covered in your current policy. If you work in a field that has high public interaction then a level of coverage for lawsuits is wise. If you run a finical business then an umbrella policy to insure the large amounts of money that moves with risk is a good idea. 

Contact Us Today

Wai Cheng Insurance Inc. serves the Bay Area, CA and the surrounding community with quality insurance services. If you worry that your current commercial policy does not cover all the aspects of your business or is not enough then give us a call, and we will be happy to answer any questions you have about umbrella insurance for your company. 

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