Miao Insurance Services

Proposed Reforms to the FAIR Plan

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When you own a business, one of your responsibilities will be to purchase commercial insurance. Many business owners have questions or concerns about their commercial insurance options. Businesses located in Pleasanton, CA are invited to bring their questions to our team at Miao Insurance Services. We’ve been working with companies in your area since 2020.

Proposed Reforms to the FAIR Plan

The FAIR plan was established in California to meet the insurance needs of residential and commercial clients who were unable to find insurance through the traditional marketplace. The plan allowed homeowners and business owners to obtain reliable and affordable insurance. Every insurance agent is required by law to participate in the FAIR plan. According to Governor Newsom’s website, the plan was revised in July 2024 to improve its ability to help California residents and businesses insure their homes.

The California Insurance Commissioner, Ricardo Lara, stated that these reforms will increase transparency about the FAIR plan. According to CFPnet, the reforms will also expand coverage to businesses that utilize the FAIR plan. Governor Newsom’s involvement stated that these reforms were needed as they would improve the rate of policy approval. The Governor further stated that the reforms of the FAIR plan had been his priority to provide stability and protection to California’s residents and business owners.

Call Us Today for Your Appointment

Business clients in the Pleasanton, CA area know the benefits of doing business in this area. Our team offers a wide range of commercial business solutions for your company. Our team at Miao Insurance Services looks forward to working with your team and supporting your business progress with the right insurance choices. Call us today to schedule an appointment, and let’s discuss your company’s insurance options.

I’m a Renter. Can I Benefit From Earthquake Insurance?

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If you reside in an area where earthquakes are common, you’re familiar with the distress caused when an earthquake damages your personal items. Earthquakes can topple bookcases, shatter glassware, and create chaos in your closet. Sometimes, the damage is devastating.

Every major earthquake requires people to replace broken or destroyed items. This is why many people have earthquake insurance. At Miao Insurance Services, serving Pleasanton, CA, we assist renters and homeowners in finding the best earthquake insurance.

What is Earthquake Insurance?

Earthquake insurance is a type of insurance that provides coverage to repair or replace items damaged after an earthquake. Earthquake insurance can cover only your belongings (if you’re a renter) or both your belongings and home (if you’re a homeowner).

Who Needs Earthquake Insurance?

Earthquake insurance can benefit anyone living in an earthquake-prone area. Most renters insurance policies don’t automatically cover earthquake insurance, so if you live in a location where earthquakes occur, consider getting earthquake insurance.

How Can I Get Earthquake Insurance?

Most private insurance companies do not offer earthquake or homeowners insurance policies to renters. Earthquake insurance is sold separately and can be purchased in addition to renter’s insurance.

If you’re a renter interested in getting earthquake insurance, you can obtain this type of insurance from your regular insurance provider. Your regular insurance provider can shop around for the right earthquake insurance policy for you. The professionals at Miao Insurance Services, servicing Pleasanton, CA, can help you find an earthquake insurance policy to meet your needs.

How Does Home Insurance Help With My Belongings?

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When you have a home insurance policy on your house, it comes with a variety of coverage types. There are many risks associated with owning a home, and these policies offer a broad range of coverage types to mitigate them. One of those types of coverage is for the belongings in the house. If you’re in the market for home insurance, we’re here to help. To learn more about it, call us at Miao Insurance Services in Pleasanton, CA today.

Understanding the Role of Belongings Coverage in Home Insurance

One of the types of coverage in these policies is to cover your belongings. This coverage is there for you just in case a damaging event damages or destroys your belongings. Often, a disaster, calamity, or accident that damages a home also damages some of the items inside it. When a damaging event does cause this kind of damage, this coverage can pay for replacements or repairs to the damaged items. This can make it much easier to recover from the event and get life back to what it was like before the incident.

Why Replacement Items Coverage is Important in Home Insurance

You may wonder if you need this coverage if you don’t have many expensive items. However, consider the cost of replacing the items in one room of your house. Many people would find it challenging to manage the cost of replacing just that one room. Imagine several rooms of items being damaged or destroyed. It would be extremely advantageous to have coverage for belongings.

How to Secure Your Home Insurance

To ensure that your belongings and your home are safe, you need to have a home insurance policy to cover it all. To find out more about these policies, give us a call at Miao Insurance Services in Pleasanton, CA.

Insuring Your Exotic Vehicle with Classic Car Insurance

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Drivers in Pleasanton, CA, let Miao Insurance Services help you insure your exotic vehicle or supercar with classic car insurance. Many owners of exotic cars and supercars don’t realize that they can purchase classic car insurance to protect their vehicles, providing a higher level of coverage for their recently manufactured or hand-built vehicles.

What’s Exotic?

When we say exotic vehicles, we mean sports cars like Lamborghini or Maserati. These high-end, foreign-made vehicles often require custom orders, and only single-digit releases are often built. Their rarity instantly catapults them to classic status, although they do not meet the technical age standards used for classic, vintage, and antique vehicles.

Mileage Limitations

Most exotic car owners don’t intend to drive these rare, performance vehicles as everyday cars, so the mileage limitation in a classic car policy doesn’t impede them. Most classic car policies allow 1,000 miles of driving per year.

OEM Parts Coverage

Owners of these performance vehicles need a higher level of insurance protection than the typical auto policy provides. Classic car coverage pays for OEM parts for repairs, which could cost hundreds or thousands of dollars otherwise.

Actual Replacement Cost

Classic car coverage also provides the actual cost of replacing a vehicle that gets totaled in an accident. An exotic car could cost between $250,000 and $1 million, making this coverage vital.

Contact Us Today

Call or email Miao Insurance Services today to start your classic car policy. Let us help you protect your classic, exotic, or supercar, whether you garage it in Pleasanton, CA, or drive it on weekends to San Francisco.

Doesn’t the landlord have insurance coverage?

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Surprisingly, many renters do not have renters insurance. Only about 55% of renters have it, and 75% of those only have it because their landlord or management company requires it. This is concerning. Miao Insurance Services, located in Pleasanton, CA, is a locally owned and operated independent insurance agency that serves the San Francisco Bay Area and all of California.

Landlord Insurance

While landlords have insurance, it’s important to understand that their coverage doesn’t extend to you. Landlords’ insurance covers their property, protecting the building and their belongings within it. Their insurance does not cover your personal property, and if your dog bites someone or your child damages something, you are responsible.

Renters Insurance

Renters insurance covers the personal property that you may have in the rental or your vehicle. Your rental insurance will cover if something is stolen from your unit or your car. You are covered if you lose all your possessions to a fire or tornado. It also provides liability insurance so that you are covered if someone is visiting you and is injured or injured by a member of your family. Another important coverage is loss of use. If a covered hazard damages your rental, rental insurance will help cover the cost of temporary accommodation. Don’t rely on your landlord to protect your property.

If you have questions about renters insurance, give our office a call at Miao Insurance Services in Pleasanton, CA, or stop by our office to discuss your needs with one of our knowledgeable staff.

Extra Motorcycle Insurance Coverage Options You’ll Want to Consider Before a Long Trip

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Motorcycle riders in Pleasanton, CA, will need basic motorcycle insurance coverage to meet state requirements. However, this type of coverage won’t compensate for situations many motorcycle drivers face when taking a long trip. Extra coverage can protect your bike and save you a lot of time and hassle if problems arise during your travels.

Comprehensive Coverage

Comprehensive coverage protects your motorcycle if it’s stolen, vandalized, or damaged by inclement weather. It also covers animal collisions and damage caused by falling objects.

Medical Coverage

Basic motorcycle coverage doesn’t cover your injuries if you’re in an accident, as the other driver’s insurance policy is meant to cover such expenses. Unfortunately, not all drivers are fully insured. Medical coverage will provide compensation for your medical bills if you’re in an accident, regardless of which driver is at fault.

Roadside Assistance

Breakdowns can happen at any time. Roadside assistance ensures you aren’t stranded if your motorcycle stops working correctly at any point during your trip. It covers towing and on-site labor.

Trip Interruption Coverage

If damage to or loss of your motorcycle leaves you stranded far from your destination, trip interruption coverage will cover expenses such as lodging, food, and alternative transportation.

Find out More from Miao Insurance Services

Miao Insurance Services serves customers in and around Pleasanton, CA. We’re a locally owned insurance agency that offers coverage options from multiple carriers to help you find the policies that best meet your needs and budget. Give us a call if you want to make sure you’re fully covered before a trip, and one of our team members will help you assess our policies and policy bundles so you can get the protection you need and deserve.

What is Worldwide Coverage Umbrella Insurance?

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Residents of Pleasanton, CA, who frequently travel outside the country may want to consider worldwide umbrella insurance in addition to a travel insurance policy. Umbrella insurance that covers international travel can compensate for incidents your travel insurance won’t cover. Moreover, it offers additional compensation when you reach the limits of your travel insurance.

What Does Worldwide Coverage Umbrella Insurance Cover?

Worldwide coverage umbrella insurance offers the same coverage levels as a regular umbrella insurance policy. The only difference is that worldwide coverage is valid no matter where an accident or damage occurs. If you’re traveling abroad for any reason, you can rely on this form of coverage to provide compensation for covered events. For instance, if you’re boating in the Caribbean and cause an accident, worldwide umbrella insurance will cover legal and settlement costs if the injured party decides to take you to court. If you travel for business and are accused of defaming a foreign competitor, worldwide umbrella coverage will pay legal, settlement, and judgment fees.

However, worldwide umbrella coverage doesn’t compensate for injuries you incur while abroad or at home. It won’t cover the deliberate or accidental damage you cause to your property. It also doesn’t cover damage already covered by another insurance policy.

Learn More About Worldwide Coverage Umbrella Insurance from Miao Insurance Services

Miao Insurance Services is an independent insurance agency serving Pleasanton, CA, and the surrounding area. We offer policies from multiple carriers to make it easy for you to find the insurance policy or policy bundle that meets your exact needs. Contact us to learn more about your umbrella insurance options or to get a quote on your choice of insurance coverage.

Protect Your Pleasanton CA Business from Damages Caused by Vandalism and Theft

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Safeguarding Your Business in Pleasanton, CA against Vandalism and Theft

Pleasanton, CA, is generally perceived as a great place to live and raise a family. It’s fairly safe, but this scenic California community is not entirely impervious to crime.

Unfortunately, property-related crimes, such as vandalism and theft, occur here. The good news is that there are a few preventative measures local business owners can take to safeguard their investments. Learn several ways to protect your Pleasanton, CA business from financial losses associated with commercial vandalism and theft below.

Preventive Measures against Vandalism and Theft for Your Pleasanton, CA Business

Stay Updated on Local Crimes

Visit the Pleasanton Police Department website to stay informed about recent crime updates. This resource provides accurate and current information that can alert business owners if crime rates are intensifying in their areas.

Invest in Comprehensive Commercial Insurance

While larger businesses in California are typically required by law to carry commercial insurance with certain provisions, smaller business owners can fortify their investments by maintaining a comprehensive commercial insurance policy. A comprehensive policy usually includes coverage for vandalism, theft, natural disasters, cyber theft, property insurance, and commercial auto insurance.

Proactive local business owners looking to protect their assets should contact a trusted local insurance professional at Miao Insurance Services.

Act Before It’s Too Late!

A licensed and informed insurance agent can answer your business insurance-related queries, offer professional advice, and provide you with a customized commercial insurance quote for your business.

Contact Miao Insurance Services to learn how to get a free quote and start a new commercial insurance policy today!

When is it a good idea to get an earthquake insurance plan in California?

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If you live in the Pleasanton, CA, area, you are likely aware that there is always a small risk of an earthquake. One of the challenges that an earthquake can bring is that it could cause serious property damage to your home. A great way to manage this risk is by getting a proper insurance plan. There are various situations in which obtaining an earthquake policy is a good idea. 

When Trying to Protect the Home

A primary reason to get an earthquake insurance plan is to protect your property. If an earthquake damages your home, the costs to repair your property and structure can be considerable. In many cases, a standard home insurance plan in this area of California will not protect against this risk. When you get an earthquake insurance policy, you will know that you have support in these situations. 

When it is Required

When you buy a home and take out a mortgage, you need to meet your lender’s insurance requirements. In many cases today, this includes getting a full earthquake policy. If a lender decides that your home is at a higher risk of earthquake damage, they will want to ensure you have the right coverage in place to manage this risk. 

An earthquake insurance plan is always a suitable type of coverage to consider when you are in the Pleasanton, CA, area. If you are going to obtain this type of coverage, you should call our professionals with Miao Insurance Services. Our team of professionals at Miao Insurance Services will offer the help you need to build a plan that will protect your home against the risk of earthquakes. 

Common Misperceptions About Homeowner’s Insurance

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If you are a homeowner in the Pleasanton, CA, area, the odds are good that you have home insurance. If you have a mortgage, your lender probably requires it. Miao Insurance Services is pleased to provide coverage for many in our area.

There are some misperceptions, however, about homeowners insurance that you should be aware of:

Home insurance doesn’t cover wear and tear.

Home insurance requires proper maintenance. Wear and tear are generally not included. If a door, window, water heater, plumbing, or faucet requires replacement, it will not be covered.

Whether the average home is covered in case of flooding.

Flooding is not covered under a basic home insurance policy. Flood insurance is managed through the National Flood Insurance Program, which can be facilitated through Miao Insurance Services.

All insurance companies are the same.

This is a huge misperception. Insurance companies vary in products, service levels, and, yes, even rates. It can pay to compare.

You are covered for earthquakes.

Earth movement is generally not covered under a basic homeowners insurance policy. This can include landslides and earthquakes.

Get an insurance review today.

If you own a home in the Pleasanton, CA, area, we encourage you to contact us at Miao Insurance Services to discuss your coverage. We can review your policy, answer your questions, help cover any gaps or concerns, and provide a price quote. You may even qualify for a better rate. You will likely get greater peace of mind.

If you have questions or misperceptions about your home insurance, contact us at Miao Insurance Services.