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What’s the Difference Between Working With an Auto Insurance Company and an Auto Insurance Broker?

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The world of auto insurance can be confusing, especially when deciding between working directly with an insurance company or a broker. At Ed Thompson Insurance Agency, serving the greater Omaha, NE region, we’re here to clarify these options so you can make an informed choice.

Auto Insurance Companies

When you work directly with an auto insurance company, you purchase a policy from a specific provider. This means you’re limited to the company’s products and rates. While this can simplify the process, as you’re dealing with just one entity, it may not provide the flexibility to compare options from different insurers.

Auto Insurance Brokers

On the other hand, an auto insurance broker acts as an intermediary between you and multiple insurance companies. Brokers can access a wide range of policies and offer personalized advice based on your specific needs and budget. Their goal is to find the best coverage for you, often saving you time and money by comparing different plans.

Which Is Right for You?

Choosing between a company and a broker depends on your preferences. Working directly with an insurance company might be best if you value having a straightforward relationship with a single provider. However, if you prefer a tailored approach with more options, a broker could offer the flexibility and expertise you need.

Let Us Help You Decide

At Ed Thompson Insurance Agency, serving the larger Omaha, NE area, we’re committed to helping you understand your auto insurance choices. Contact us today if you’re leaning towards a direct company or exploring broker options. Our team is ready to guide you through the process and find the perfect solution for your auto insurance needs.

Do You Need Commercial Insurance to Sell Items Online?

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No federal or state laws mandate online vendors to purchase commercial insurance. However, this doesn’t imply that entrepreneurs in Omaha, NE should disregard insurance completely. Some platforms, like Amazon, necessitate the purchase of certain types of insurance coverage. Other forms of coverage may be crucial to safeguard your business from devastation in the event of an unexpected disaster.

What Types of Commercial Insurance Do You Need to Sell Items Online?

Amazon mandates that vendors procure a general liability insurance policy. This coverage protects you from lawsuits if someone gets injured while dropping off or picking up products from your home or warehouse. It also covers legal expenses if a competitor accuses you of slander or copyright infringement. Moreover, most general liability insurance policies include property damage coverage, which is vital for any vendor selling physical products. With property damage coverage, you’ll receive compensation for legal, settlement, and judgment costs if someone alleges your products injured them and sues you for damages.

It’s also advisable to purchase business property insurance, even if you operate your business from home. Home insurance doesn’t cover damage to business assets and products. This implies you could lose a significant amount of money in the event of theft or a natural disaster. Cybersecurity coverage is another policy that could help you avoid substantial loss, as it provides compensation for a hack or data breach.

Commercial Insurance Options from Ed Thompson Insurance Agency

The Ed Thompson Insurance Agency specializes in assisting Omaha, NE business owners in finding excellent insurance options at a competitive price. Contact us to learn more or to get a policy quote.

Will I need to have home insurance in Nebraska?

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Securing Your Omaha Home with Proper Insurance

Investing in real estate in Omaha, NE has been beneficial for many individuals. When purchasing a home in this area, you must ensure you appropriately cover and protect it – a task best accomplished with sufficient home insurance. There are several reasons why you need to have home insurance here.

Guaranteeing Adequate Coverage

The primary reason for having home insurance in Nebraska is to guarantee you have the correct coverage. When buying a home, you’re investing in an asset you’ll want to enjoy and protect for many years. A comprehensive home insurance plan covers you in the event of a loss and provides you with invaluable liability insurance should you be held responsible for any damages.

Meeting Compliance Standards

Often, when you purchase a home, various agreements require you to maintain adequate home insurance. These could be related to living in a homeowner’s association or having a mortgage. Keeping home insurance ensures you comply with these agreements and maintain your good standing.

As you decide to purchase a property in Omaha, NE, don’t forget to secure an appropriate home insurance policy. When searching for coverage, feel free to call our Ed Thompson Insurance Agency team. When you contact us, you’ll receive all the necessary assistance to develop a new policy that adequately covers you and your home.

Auto Insurance for Used vs. New Cars

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At Ed Thompson Insurance Agency, we want our Omaha, NE, clients to enjoy the auto insurance they need when needed. This blog covers the difference between necessary coverage for a new car and a used vehicle. While you’ll buy the same policy regardless of your vehicle’s age, the coverage types in the policy vary.

What Stays the Same

Every driver in the state of Nebraska must insure their new or used vehicle with liability coverage that meets the minimum coverage requirements. This includes bodily injury and property damage coverages.

What Differs

When you purchase a new car, your lender may require you to carry full coverage, which includes collision and comprehensive coverage. That ensures that if the auto gets totaled or stolen, your insurance policy will fully cover what you owe the bank for the loan. Once you pay off your loan, you may want to keep the full coverage because you would have to pay for a new vehicle out of pocket without it.

When you own a used vehicle, an insurer typically suggests comparing the cost of collision and comprehensive coverage with the used auto’s replacement value. If you could replace the car for the annual premiums and deductible cost, buying full coverage doesn’t make sense. If a vehicle replacement costs more than the premiums and deductible, then accept the coverage and save money if anything happens to the vehicle.

Contact Ed Thompson Insurance Agency Today

Contact Ed Thompson Insurance Agency today to update your auto insurance. Don’t leave your Omaha, NE, driveway without the appropriate auto coverage.

Commercial Insurance In Nebraska: What You Need and What’s Optional

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Commercial insurance protects businesses from potential damages and losses, which would typically result in substantial out-of-pocket expenses. Commercial insurance encompasses a broad range of insurance types, and not all businesses need comprehensive coverage. However, you may be surprised to learn that your state mandates specific forms of coverage. For example, if you operate a business in Omaha, NE, what types of commercial insurance does the state of Nebraska require you to have? Here’s a guide on what you need, what’s optional, and how you can get the coverage your business requires with us at Ed Thompson Insurance Agency.

What Types of Commercial Insurance Do You Need in Nebraska?

Nebraska mandates two main types of commercial insurance for businesses operating in the state: workers’ compensation and commercial auto insurance. Workers’ compensation safeguards your employees (if you employ one or more individuals), and commercial auto insurance provides necessary road coverage for vehicles used for business activities. That being said, many other types of commercial insurance are worth pursuing. Policies often purchased by businesses in Nebraska include general liability insurance, commercial real estate insurance, and cyber insurance, to name a few. It’s important to ask yourself: how much coverage do I need, and will it support my business beyond just the basics?

Find the Right Degree of Coverage With Ed Thompson Insurance Agency

Whether you need only basic coverage or want to protect your business comprehensively, the team here at Ed Thompson Insurance Agency in Omaha, NE, is dedicated to helping you find insurance that works for you. It all starts with comparing multiple quotes to find coverage and premiums that work for you. If you need any help, we’re always here to assist you!

A Spring Home Maintenance Checklist

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Spring and early summer are the ideal times to give your home the well-deserved care it needs after enduring the harsh winter. At Ed Thompson Insurance Agency in Omaha, NE, we understand that a well-maintained home can result in fewer insurance claims. Here’s a useful spring home maintenance checklist to keep your home in top condition.

Inspect Your Roof

Winter can cause significant wear and tear on your roof. Look for missing or damaged shingles and check for leaks. Prompt repairs can prevent additional damage and save on costly repairs. We recommend hiring a professional for a roof inspection at least once a year.

Check Your HVAC System

Before the summer heat arrives, ensure your HVAC system is functioning efficiently. Replace filters and clean vents, and consider hiring a professional for a tune-up to keep it running smoothly. We recommend this task for both the spring and the fall seasons.

Examine Windows and Doors

Inspect your windows and doors for cracks or gaps. If you encounter damaged weatherstripping and caulking, consider replacing them. These small changes can improve energy efficiency and prevent pests from entering. If your windows aren’t energy-efficient, you may consider replacing them.

Test Smoke and Carbon Monoxide Detectors

Safety is paramount. Test all your smoke and carbon monoxide detectors and replace batteries if needed. These devices provide early hazard detection and are vital for your safety.

Inspect the Exterior

Walk around your home and look for signs of damage to the siding, foundation, and driveway. Pay attention to cracks, chips, mildew, and signs of water damage. Addressing these minor issues promptly can prevent more significant, costly problems in the future.

At Ed Thompson Insurance Agency, we’re dedicated to helping you protect your home. Regular maintenance ensures your home stays in excellent condition and your home insurance remains effective. If you need help with a home insurance policy in Omaha, NE, don’t hesitate to contact us.

Three Optional Auto Policy Coverage Types Available in Nebraska

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At Ed Thompson Insurance Agency, we serve Omaha, NE residents with customizable auto insurance that protects their financial security while they drive on city streets and country roads. Nebraska lets its drivers include options in their auto insurance policies that some states don’t offer, and today’s blog introduces our readers to those options.

Nebraska Auto Insurance Options 

Nebraska ranks among the states that allow policyholders to add coverage beyond liability, comprehensive, and collision. These coverage types can help you build a strong full-coverage auto policy. Still, the government allows three optional insurance coverage types to help policyholders round out their auto coverage in our fine state. Consider these options: 

  • Medical Payments/Medical Benefits: This coverage pays for your medical bills regardless of who caused an accident, including single-vehicle accidents.
  • Loan/Lease Payoff, or gap coverage: This pays for your loan or leases if you total your vehicle before paying it off.
  • Rental Car Reimbursement: This reimburses you when you need to rent a vehicle because yours got damaged in an accident. 

Whether you carry the state minimum or full coverage, you qualify to add these three optional coverage types to your policy.

Contact Our Insurance Agency Today 

Call or email Ed Thompson Insurance Agency to create a custom auto insurance policy that protects your financial security and adds convenience to your policy. Don’t leave your Omaha, NE driveway without proper insurance coverage. Let us help you create an auto insurance policy that provides for all your automotive needs. If you moved here from a state that didn’t offer medical payment coverage, grab your chance to enjoy this helpful backup to health insurance.

The Sharing Economy Challenge: Addressing Commercial Insurance Gaps for Peer-to-Peer Platforms

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Commercial Insurance for Sharing Economy: The Crucial Role it Plays

The burgeoning sharing economy, fueled by the rise in peer-to-peer platforms, has raised unique challenges for commercial insurance providers, especially in regions like Omaha, NE, and across the nation. Activities such as ride-sharing, home-sharing, and equipment rental necessitate deep consideration, as traditional insurance policies often fail to encompass the diverse risks associated with these services.

Limitations of Traditional Coverage

Typically, traditional commercial insurance policies have limitations that might not address the risks inherent in peer-to-peer transactions. For example, auto insurance policies often exclude coverage for vehicles used for commercial purposes, posing potential coverage gaps for ride-sharing drivers while transporting passengers.

Tailor-Made Solutions to Address Gaps

Insurers are now focusing on developing tailor-made insurance solutions to bridge these gaps. Specialized coverage options are being designed for service providers across sectors such as ride-sharing drivers, home-sharing hosts, and equipment rental businesses. Adapting insurance to meet the unique risks associated with sharing services ensures that service providers and consumers are protected against potential losses.

Significance of Collaborative Partnerships

Collaborative partnerships within their platforms can facilitate the integration of insurance offerings into their services, allowing users to access relevant coverage options at the point of transaction. Platforms are taking measures towards risk management and imposing safety protocols to abate potential liabilities and reduce insurance risks for all parties involved.

Regulatory Compliance

Regulatory compliance is another significant aspect of addressing commercial insurance gaps in the sharing economy. As regulatory frameworks are evolving to adapt to new business models and emerging technologies, insurers need to ensure that their insurance products comply with these regulations and provide adequate coverage for sharing service participants.

Contact Ed Thompson Insurance Agency

Ed Thompson Insurance Agency extends its expertise to answer your commercial insurance queries and caters to the Omaha, NE, region. Contact us today to learn more about the rise of sharing economy insurance.

Are You Required to Maintain Home Insurance After Your Home is Paid For?

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Residents of Omaha, NE can count on Ed Thompson’s Agency when it comes to securing their household cost-effectively. To us, trustworthiness, honesty, and fairness mean everything in a business. Consequently, we strive to make our clients feel we give them the most reliable and trusted services customized to meet all insurance-related problems.

We provide individual insurance packages for different types of businesses and for local market requirements, based on years of experience specific to the industry and on our extensive market knowledge, which is the guarantee for the protection of your home. Put your burdens aside and sleep easily, knowing that your valued property is in the hands of the Ed Thompson Insurance Agency, which specializes in customized service and quality coverage.

Home Insurance Protection 

According to the practices of most mortgage lenders and, usually, good financial sense, it is wise to maintain home insurance even after you have completely paid off your home. Even though the law does not require you to have insurance coverage when you are done paying off your mortgage, it certainly does make sense to protect such a valuable asset with a good insurance policy.

By partnering with top insurance providers like Ed Thompson Insurance Agency in Omaha, NE, homeowners can create a safety net that will cover their investment in unwanted events like natural disasters, property damage, and liability claims. Home insurance also offers other features, including safety, security, and financial protection when theft, accidents, or lawsuits happen. 

Therefore, when you become a homeowner, having quality home insurance coverage by a company like Ed Thompson Insurance Agency is a means of actively protecting your property and well-being.

Get Quality Insurance Coverage Today

With the assistance of Ed Thompson Insurance Agency’s team right here in Omaha, NE, you will rest assured that you have the best home insurance coverage. We possess a highly trained and competent workforce, and we understand the importance of keeping your house and property safe from theft or damage. We are committed to meeting your individual specifications with our tailored security solutions. We strive for total security and the ability to defend and safeguard all of our valuable assets. Please take advantage of our Ed Thompson Insurance Agency personnel for first-rate house insurance coverage that you can rely on to protect your property.

Auto insurance add-ons to consider

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At Ed Thompson Insurance Agency in Omaha, NE, we take our responsibilities to our customers very seriously. We are independent insurance agents and work for our customers, not for the insurance carriers. This allows us to provide more choices and more opportunities to get the best possible insurance at a great price. 

A basic auto insurance policy is liability coverage that protects other people from you. Most add-ons are about you and your vehicle. 

Collision

Collision coverage pays to repair or replace your vehicle if you are in an accident and are deemed the responsible party. If you lease a vehicle or have a car loan, you will need this coverage. 

Comprehensive

Comprehensive coverage covers your vehicle for a wide variety of hazards. One of the main ones is theft. It also covers you for vandalism, collision with a large animal, and other events that are out of your control. It covers glass, but there is a deductible. 

Full glass coverage

Full glass coverage replaces cracked or damaged glass without having to pay a deductible. 

Gap Coverage

Gap coverage is an important add-on if you have a relatively new vehicle and an auto loan. It pays the difference between what you still owe on your vehicle and the amount the insurance company pays you. 

Roadside service

Roadside service provides care if you have mechanical problems with your vehicle. It can provide a jump start, replace a flat tire, or tow you to a service station. 

Rental car

Rental car coverage is not for a car you rent for vacation but rather a rental car that you need when your vehicle has been damaged or totaled. It will allow you to have something to drive for a few days or weeks. 

Give our office a call at Ed Thompson Insurance Agency in Omaha, NE, to make an appointment to discuss your auto insurance needs.