How Does Condo Insurance Protect Someone?

When looking to purchase a condo unit, most mortgage lenders will insist that you begin by obtaining condo insurance coverage if you must convince them to approve your purchase. As a newbie, you might wonder what condo insurance refers to and how it can be of use. Assuming this is your case, our post today is dedicated to you.

Condo insurance typically resembles a homeowner’s insurance but with a few distinctions. It protects you, your condo, your property, and other people in case of mischances. According to Cary-Wheeler & Associates Inc. in Richmond, VA, condo owners who insure their unit have peace of mind because:

It covers liability costs

You could be the type of buddy who likes welcoming guests, but did you know they can encounter accidents while at your unit? Yes, a slip can cause your guest to fall and break his hand. You’d have to cover his/her medical bills. However, with condo liability coverage, you incur no costs.

It protects your valuables

Besides protecting other people visiting your home, condo insurance guarantees the safety of your valuables such as furniture, electronics, clothing, appliances, and other assets.

If anything unforeseen causes you to lose any or all your valuable, your condo insurance takes responsibility and compensates you accordingly.

It covers loss of use

At one point or the other, perils can occur, necessitating you to renovate your unit. When such a thing happens, you will want to look for a temporary place to stay until you are done with the renovations. Your condo insurance comes in to help you relocate to a new location by covering additional living expenses. 

It protects the interior of your condo unit

Your condo insurance also protects the interior structures of your units. If anything happens to interior structures such as walls, ceilings, flooring, and so forth, your insurer takes care of it.

Buy condo insurance today

As you can see from this post, the importance of obtaining condo insurance can’t be stressed enough. You are risking your wealth if you haven’t yet obtained coverage from Cary-Wheeler & Associates Inc. in Richmond, VA. Contact us today for a quote. 

Do I need to get additional insurance when I rent a car?

Virginia may be for lovers, but it is also for drivers, with almost 6 million drivers traveling more than 55,000 miles of state roads. If you are a driver in this great state, you need to have the mandated insurance, and perhaps you need more. At Cary-Wheeler & Associates Inc in Richmond, VA, we have been providing service to Virginia residents since 1983.

As summer vacation time approaches, the question of car rentals and insurance coverage comes up frequently. When you are renting a car, you will be asked to fill out many forms and sign a lot of papers. Some of them have to do with the insurance coverage that the auto rental companies offer. If you read the papers carefully, you will notice the great price you got for your rental car has more than doubled when all the different types of insurance are added. The wording can be confusing, and you may not know exactly what you are accepting or rejecting. 

In the simplest terms, if you have a newish vehicle with full coverage, you probably have enough coverage to protect you unless you are renting an exotic or costly vehicle. If you have a fundamental policy with low liability levels and no collision and comprehensive, you need to take the offered insurance. Read your policy carefully before you rent a car to make sure you are not duplicating your coverage. Additionally, if you are using a credit card, your card may have rental car coverage you can also tap into. The reality is you are better to be over-covered than under-covered, so talk to your insurance agent before you make your decision. 

If you are in the market for auto insurance, Cary-Wheeler & Associates Inc in Richmond, VA is here to help. 

Is home insurance required in Virginia?

Your home in Richmond, VA is beautiful and a sign of your financial success. It would be best if you had a home insurance policy that protects your prized asset in more ways than one. The agents at Cary-Wheeler & Associates Inc. can help you understand indemnity coverage for your home so that you purchase the best policy for your lifestyle. 

What does home insurance cover?

A standard home insurance policy pays for damage to the structure as well as possessions inside the home. The best indemnity coverage also pays for medical bills if a guest is injured while visiting your home. 

Most standard home insurance policies do not pay for natural disasters such as flooding and fires caused by heavy winds. Homeowners need additional coverage to pay for these events. 

Is home insurance required in Virginia?

There is no state law requiring all homeowners to obtain home insurance in Richmond, VA. Owners with mortgages funded by the federal government are, however, required to have home insurance. 

How much indemnity coverage do you need?

The amount of home insurance you need depends on your lifestyle preferences as well as the market value. It is best to choose a policy worth at least 80 percent of your property’s value to avoid coverage restrictions in the instance of total disaster. 

It would be best to consider an indemnity policy that protects treasured possessions such as antiques and keepsakes that have more sentimental value than market worth. A standard home insurance plan may not provide enough financial compensation if such items are destroyed. 

The agents at Cary-Wheeler & Associates Inc. can help you put together a home insurance plan that protects your assets. Call them today to request a quote for coverage!

Dangers of Compromising Commercial Insurance

Running a business in Richmond, VA comes with its own risks. While you are burning the midnight oil to ensure that your business dream becomes a reality, risks like theft, fire, and other perils can quickly turn your dream into a nightmare. Even though mishaps can’t be avoided entirely, they can be mitigated with proper planning and the right insurance coverage. 

With this in mind, business owners in Virginia run the below risks when they fail to carry business insurance from Cary-Wheeler & Associates Inc.

Get into trouble with the law.

Virginia businesses are required to carry the below insurance policies by the law.

  • Commercial auto insurance: To cover for liabilities and medical expenses arising from vehicular accidents. 
  • Workers’ compensation insurance: Pays for medical expenses for injuries sustained in the workplace.

Failure to obtain the above insurance, you are likely to face penalties and fines from the authorities.

Exposure to liabilities

When running a business, there are several liabilities you can face that can lead you into a financial mess. Some include:

  • Injuries occurring in your premises
  • Lawsuits from alleged negligence
  • Third-party property damage
  • Libel or slander lawsuits

Depending on the severity, damages from these liabilities can translate into thousands of dollars. In reality, not many small businesses can survive such a financial blow. But you can avoid going this dangerous road by obtaining business insurance.

Property loss

Your business assets, such as the building, vehicles, equipment, and inventory, face many risks that could lead to substantial loss or damage. For instance, theft, vandalism, and fire can cause unspeakable damages to your property, crippling your business. But with commercial insurance, your insurance can repair or replace properties up to your policy limit, lessening your financial burden.

Whether renewing or shopping for new commercial insurance, you can count on Cary-Wheeler & Associates Inc., located in Richmond, VA, for all your business insurance needs. Contact us today, and we shall handle the rest.

Types pf coverage renters insurance provides

The number of renters is on the rise as the number of homeowners is falling. While 95% of homeowners have home insurance, only 37% of renters have renters insurance. As a renter, you may believe your landlord has insurance that will protect you and your possessions. You would be wrong. He only has insurance to protect his building. Your possessions are not his concern. At Cary-Wheeler & Associates Inc. in Richmond, VA, we are an independent agency with more than 35 years of experience. We believe every customer has different insurance needs, and their policy should reflect that. 

As a renter, most of what you own in the world may be located in your apartment or rental home. If suddenly it was all gone, how would you cope? Would you be able to replace everything with the money you have in savings?  If not, then apartment insurance is worth considering. Apartment insurance includes several types of coverage, and all of them are beneficial. 


One of the primary reasons for getting renters insurance is to provide for the replacement of your possessions. This includes items you may have with you when you travel away from your home. You have a choice of actual value or replacement cost. 

Loss of use

When a covered peril damages your rental, you may need a place to stay for a day or two or even a few months. If you have this type of coverage as part of your renters’ insurance, you will get money to help pay for a roof over your head. 


If you think as a renter, you are safe from being sued, think again. If someone is injured while visiting you or by a member of your family, you could be facing a lawsuit. Liability coverage is a protection everyone can use. 

Contact Cary-Wheeler & Associates Inc. in Richmond, VA to find out more about renters insurance. 

A Guide To Help Virginia Residents Find The Right Motorcycle Insurance Policy

Based in Richmond, VA, Cary-Wheeler & Associates, Inc. helps the community find the insurance coverage they need to protect what matters most. For over 30 years, we have helped our clients regardless of their situation. We look forward to establishing a long-lasting relationship with you.

Motorcycle Insurance Guide

During warm weather days, many people enjoy riding through Richmond, VA on their motorcycles. If you enjoy riding through the area, it’s important that you have protection. Motorcycle insurance covers you against some of the natural risks associated with riding a motorcycle. The policy covers your vehicle if it is damaged in a collision. You are also protected if you are a victim of theft or vandalism. You can also amend your policy to cover your motorcycle is damaged due to a fire or natural disaster.

Liability coverage protects you if an unexpected situation arises. Accidents can happen at any time. You will be protected if you accidentally collide with another motorcycle or if you cause damage to someone else’s property. If you have a passenger riding on the motorcycle with you, you will also be protected if the passenger suffers an injury.

You can amend your policy to include roadside assistance in the event of an emergency. If you plan to add custom parts or accessories to your motorcycle, you can add extra coverage to protect them if your motorcycle suffers damage. This gives you peace of mind that you will not have to deal with potentially huge losses if your custom motorcycle is totaled. You can also add coverage to protect your motorcycle while it is in storage. 

Cary-Wheeler & Associates, Inc. Will Help You Cover Your Asset

For more information on motorcycle insurance, visit our website today!  

What Is an Umbrella Insurance Policy?

An umbrella insurance policy works a little differently from most. It is used to add to other insurance policies that you already have in place. If you are interested in getting this type of coverage, contact us at Cary-Wheeler & Associates, Inc. in Richmond, VA to talk with an agent about these policies. 

Your Liability Coverage

There are several types of insurance policies that come with some liability coverage. However, that coverage often doesn’t go very far if there is a serious incident you are liable for. That’s where umbrella insurance comes in. An umbrella insurance policy adds to the liability coverage that you have with both your auto policy and your home policy. The way it works is that the first insurance policy, whether it is auto or home insurance, covers an accident first and pays up to its maximum coverage. Once it has reached that amount, the umbrella policy is activated and pays the overage up to its maximum. 

Cost-Effective Insurance

One of the reasons that so many people get umbrella policies is that it’s a way to add to your existing insurance without paying the hefty price tag of boosting each insurance type on its own. If you were to go to your insurance agent and want more liability coverage for your auto and home insurance policies, it could be costly. Umbrella coverage, however, is highly affordable. 

More Liability

If you want to have more liability coverage than you currently do, but you don’t want to pay an exorbitant amount for it, consider an umbrella policy. To talk to an agent about this type of coverage, call us at Cary-Wheeler & Associates, Inc. in Richmond, VA to make your appointment with an insurance agent.

Do I Need Condo Insurance in Virginia?

It’s easiest to think of condo insurance as being somewhere between renter’s insurance and home insurance, with the former not being mandatory by the state of Richmond, VA. The purpose of home insurance is to protect the bank if your mortgage isn’t paid off. But it’s still a good idea to have it as protection if something happens where the homeowner finds themselves in litigation or with damage to the property. However, homeowner’s and condo insurance are quite different. 

Differences Between Homeowner’s and Condo Insurance

The major differences between these two insurance policies can be found in the definition of primary dwelling, other structures, and personal property. To put it another way, condo insurance covers what you own, the inside unit, and your possessions, while homeowner’s insurance covers the entire property. For a condo, you will have a condominium association policy covering the outside of the condo, including common areas, but you still need to protect the inside. Working with a reputable agent from Cary-Wheeler & Associates, Inc. will help you determine what parts of your condo need condo insurance coverage.

What Kind of Condo Insurance Should I Get?

You can secure different coverage types when purchasing condo insurance, replacement cost coverage, and cash value coverage. If you opt for cash coverage and your possessions are stolen or damaged, you’ll be reimbursed in cash for what you originally paid for the item(s). If you opt for cost coverage, you will be reimbursed according to the item’s current value. Keep in mind that you need to insure the contents of your condo, as well as its structure. Contents include valuables, furniture, electronics, and appliances, while structure includes lights, flooring, and countertops.

If you want coverage if something happens, it’s a smart move to have condo insurance in Richmond, VA. The team at Cary-Wheeler & Associates, Inc. can help.


3 Tips for Getting the Most from Your Auto Insurance

Auto Insurance That Fits Your Needs

There is a range of options to choose from when choosing auto insurance, depending on your needs. Basic liability works for many people, while others may want more protection with collision and other enhanced levels of insurance. There are ways to make your policy work for you, and a reliable insurance agent can help.

The agents at Cary-Wheeler & Associates Inc. in Richmond, VA can get reliable coverage for all of your vehicles. For years, we have worked with motorists to get quality, affordable insurance for all their automobiles, including RVs and recreation vehicles. From liability to comprehensive, we will tailor a policy that works for you.

Getting The Most From Your Insurance

There are ways to make your insurance work better for you. Here are some tips to save and make your auto insurance more effective:

  • Increasing the deductible – This can help save money by raising the amount an insurance company will pay for accidents. If the accident is expensive, this can save you a lot of money.
  • Keep a good driving record – This can go a long way to lowering rates by showing good driving habits with few traffic violations.
  • Increase your credit score – A healthy credit score can mean insurance savings. Companies use this as a factor when setting rates.

Quality Auto Insurance

Contact Cary-Wheeler & Associates Inc. in Richmond, VA today to speak with an agent about your insurance options. We have years of experience finding the best rates and policies for our clients. We can get you covered with a policy that fits your budget and gives you peace of mind knowing you are covered. Give us a call today.

Do you need commercial insurance for your Virginia business?

If you own a small business in Virginia, you need to protect your investment, and one way to do that is through obtaining a commercial liability insurance policy for your business. Your business is one of over 640,000 small businesses located in the beautiful state of Virginia and is vital to the overall economy of the state.

Is Commercial Liability Insurance Required in Virginia?

While commercial liability insurance is not a requirement for small businesses or larger ones located in Virginia, the state is one of four in the country that does still utilize a contributory negligence standard. This means that if someone sues you and they win their lawsuit against you and your business, their reward is decreased by the amount that is deemed to be the fault of the plaintiff. In other words, if someone falls at your location then sues you, the jury may find in favor of the person suing you but can reduce the amount of money you need to pay out if the person was also negligent in some way that contributed to the falling incident. Due to this rule, you and your business should obtain a commercial liability policy to protect your business.

What is Covered by Commercial Liability Insurance?

Many incidents are covered under commercial liability business insurance, including bodily injury. If a visitor to your business sustains injuries while there because you were negligent, or an employee is injured while at a customer’s property or in the workplace, they will be covered. Personal injury claims covered are false arrests, invasion of privacy or property copyright infringement, libel, slander, and other things that can damage your rights to reputation. Also covered are advertising injuries and legal defense and judgments against you and your business.

To create a commercial liability insurance policy for you and your business, visit the commercial insurance agents at Cary-Wheeler & Associates Inc. in Richmond, VA.