What Kinds of Businesses Need Umbrella Insurance?

Posted on May 30, 2025May 27, 2025 by admin

Protect Your Business with Umbrella Insurance

Unexpected liabilities—especially when a single lawsuit can exceed your primary coverage limits—pose a significant threat to any business. Umbrella insurance through SCF Solutions serving Charleston, SC, acts like an invisible safety net—it covers the gap where general liability or commercial property policies leave off—and can be the difference between maintaining financial stability and facing financial ruin.

Businesses with Substantial Assets

Companies with substantial physical or intellectual property—manufacturers handling heavy machinery, real estate firms owning multiple properties, and tech startups with proprietary software—all face higher stakes if sued for property damage, copyright infringement, or product recalls.

High-Liability Professions

Legal practices, medical offices, architects, and engineers carry professional liability risks that can lead to costly malpractice or negligence claims. While professional liability policies cover many scenarios, they often cap defense fees and settlement amounts.

Businesses with Public Interactions

Retailers, restaurants, fitness centers, and event planners engage directly with customers, creating slip-and-fall, food-borne illness, or crowd-control risks. When a serious injury or wrongful-death claim arises, your standard liability limits may prove insufficient. Umbrella insurance bridges that gap—ensuring you have the funds to cover medical expenses and legal fees, and keeping your doors open after an expensive incident.

Rapidly Growing Companies

Fast-expanding businesses often introduce new products, services, or locations before their insurance coverage catches up. Startups scaling nationwide—whether launching e-commerce platforms or franchising—face evolving exposures, from data breaches to advertising liability.

Whether you manage heavy equipment, provide professional services, welcome the public through your doors, or expand rapidly, umbrella insurance ensures you’re not left vulnerable when primary limits are exhausted. Talk with our umbrella insurance specialists today at SCF Solutions serving Charleston, SC, to craft a tailored umbrella policy that grows with your business, and rest easy knowing you have the protection you need.

Preparing for Hurricane Season

Posted on May 22, 2025May 22, 2025 by Robin Easterlin

Hurricanes and tropical storms are difficult to predict, which can make preparing for inclement weather especially challenging. However, taking the right steps now can help protect your property and provide you and your family peace of mind long before a storm hits the radar.

The 2025 Atlantic hurricane season is expected to have a higher-than-average threat to U.S. landfalls, with forecasters predicting 17 named storms. To help you stay prepared, here are some important steps to take before hurricane season begins.

Review your policy and identify any gaps in coverage now

As your life changes, so do your insurance needs. By reviewing your policies on an annual basis, you can identify any areas where you may need to add or adjust coverage. For example, you may have insured your home for $200,000 when you first bought it. Due to recent inflation and supply chain issues, your home may cost $300,000 to rebuild in today’s market. That is a $100,000 gap in coverage, which could leave you without the proper resources to rebuild in the event of a loss.

Additionally, an insurance review can help you understand what type of damage may not be covered under your existing policies. For instance, most standard home insurance policies do not cover flood damage. Regardless of whether you live in a flood zone, flood insurance can help you protect your home and its furnishings against these damages, potentially saving you thousands in out-of-pocket expenses.

South Carolina Federal Insurance Solutions is able to provide standard flood insurance issued by the National Flood Insurance Program and Neptune Flood Insurance, a customizable private flood insurance option. Review our Flood Insurance page or talk with your insurance advisor for more information.

Be prepared to pay your deductible

Many consumers are experiencing increased deductibles on their insurance policies as insurers pass along rising claims costs. Tariffs are also expected to drive up these costs even higher. It is important to understand how an increased deductible will impact your budget if you file a claim.

A typical hurricane deductible can range from 1% to 5% of a home’s insured value. If your home is insured for $500,000 and your hurricane deductible is 3%, in the event of a total loss, you would be responsible for paying $15,000 toward damages before your policy kicks in. Also, it is not uncommon to have damages caused by a hurricane and a flood from the same event. A flood policy has two separate deductibles, one for the building and one for personal property contents. If each of those deductibles are $2,500, you would pay an additional $5,000 for flood damage caused by a hurricane. In this scenario, you would pay a total of $20,000 before your insurance starts covering the remaining costs.

If you are not sure how you would pay a large deductible, you are not alone. Many adults do not have enough emergency savings to cover unexpected repairs in today’s market. Whether you are just getting started or want to ramp up your savings, South Carolina Federal Credit Union offers a complimentary financial wellness platform, which has tools to help you build your emergency fund. Click here to get started.

Create a home inventory

A home inventory is a detailed log of all of your possessions. Many insurance carriers recommend keeping an up-to-date home inventory, as it can help ensure you have enough coverage and save time and stress when filing a claim.

Your home inventory should account for nearly every item in your household. From appliances to furniture, and any miscellaneous items in storage, your list should be comprehensive and include the following:

Item description including the serial or model number. If possible, use photos or videos to record everything inside and outside of the home and other structures on the property.
Cost and date of large purchases with sales receipts or appraisals.
Estimated replacement cost of each item.

Assembling a household inventory may feel like an overwhelming project. However, completing it in advance of a severe weather event can save you valuable time once a storm is projected for your area. Once you have completed your home inventory, store it in a safe deposit box or another location where it can be accessed easily in an emergency. Hurricane season starts June 1, which means homeowners should plan ahead to ensure coverage is in place before a storm hits the forecast. From the date of purchase, there is a 30-day waiting period for a standard flood policy to take effect. Private flood insurance waiting periods can vary. To help you prepare for hurricane season, contact us to schedule a complimentary review of your coverage.

Make Plans to Protect You and Your Property

Posted on May 22, 2025May 22, 2025 by Robin Easterlin

The Atlantic hurricane season can bring dangerous storms with little warning. The National Weather Service will issue a hurricane warning when sustained winds of 74 mph or higher are expected in a specific area, typically within 24 hours or less. A hurricane watch is issued when there’s a potential for hurricane conditions, usually within 36 hours. During a hurricane watch, it’s important to act quickly to protect your family and property. At South Carolina Federal Insurance Solutions, we understand how vital preparation is and we’re committed to helping you safeguard what matters most. To help you stay prepared in the event of an evacuation, we’ve gathered a few key tips to get you started.

Prepare a Family Disaster Plan

Don’t wait for an evacuation order – plan ahead and arrange to stay with friends or relatives who live inland or on higher ground.
Visit Know Your Zone to learn about your area’s evacuation zones. Map out multiple evacuation routes from your home and share these plans with your family.
Save important contacts into everyone’s phones.
If you have pets, create a list of pet-friendly hotels or shelters along your evacuation routes.

Build an Emergency Kit

Prepare a kit with essentials that can support your family for at least three days that includes:

Water (1 gallon per person, per day)
Nonperishable food items
First-aid kit
Flashlight with extra batteries
Battery-powered radio
Phone chargers and backup power sources
Personal hygiene and care items
Basic tools and supplies
Important documents (home inventory, list of medications, insurance policies, passports, extra cash, etc.)
Medications and special items for infants or seniors

Be sure to include essential supplies for your pets, too! Visit the South Carolina Emergency Management Division website for tips and a helpful checklist. Also, consider packing a small bag with personal keepsakes or comfort items that each person would want to bring if case of evacuation.

Prepare Your Home

If you live in a low-lying, flood-prone area or in a mobile home, assess your risk and begin preparation early.
Make any necessary repairs to strengthen your home against high winds and heavy rain.
Install storm shutters or securely fasten plywood over all windows, skylights, and doors.
Clear your yard of loose objects, trim trees and shrubs, and clean out gutters and drains to prevent blockages and water buildup.
Take photos of your home – both interior and exterior – in case you need to file an insurance claim.

Prepare Your Vehicle

Make sure the gas tank is filled and your battery is fully charged.
Inspect oil levels, windshield wipers, headlights, and tire condition to ensure your vehicle is road-ready.
Store car chargers for essential electronic devices.
Take interior and exterior photos of your vehicle in case you need to file an insurance claim.
If you aren’t evacuating, park your vehicle in a garage or on high ground away from trees and power lines, and use a protective cover.

Prepare Your Boat

Decide in advance where you’ll store your boat during a storm – preferably out of the water and in a secure location.
If you plan to evacuate with your boat, securely cover it and remove any loose items that could be damaged or become hazardous in high winds.
Inspect the trailer and tires to ensure they’re in good condition.
Take photos of your boat and trailer for insurance documentation.

Remember, possessions can be replaced but you and your family cannot. Coastal storms and hurricanes can bring devastating financial and emotional impacts. The insurance professionals at Insurance Solutions are here to help you prepare and minimize the financial aftermath. Contact us for more information.

Flood Insurance FAQs

Posted on May 22, 2025May 22, 2025 by Robin Easterlin

Floods are the most common and costly natural disaster in the United States. However, according to the National Association of Insurance Commissioners, only about 15% of homeowners have policies in place to cover their home and belongings for flood-related damage.^* At South Carolina Federal Insurance Solutions, we are committed to helping you understand available coverage options and select a policy that fits your unique situation. We have compiled a list of frequently asked questions to help you navigate the world of flood insurance.

Does my homeowners insurance policy cover flood damage?

Many homeowners believe that they are covered for flood damage by their homeowners insurance policy. However, flood coverage is excluded by most homeowners policies.

How can I distinguish flood damage from other water damage that is covered under my homeowners insurance policy?

Under most homeowners insurance policies, if water damage occurs suddenly or accidentally from a source inside your home, such as a busted pipe, it will likely be covered. The primary difference is that with a flood, the water comes from a natural source, such as storm surges, inland flooding caused by bodies of water overflowing, or flash floods.

How much damage can flood water cause?

According to FEMA, just one inch of water can cause $25,000 of damage to your home. Floods can cause power, water, and gas outages; pollute drinking water systems; damage homes and buildings; and cause severe environmental problems. Also, flooding can cause fatalities and serious injuries when people do not heed evacuation orders.

I do not live in a flood zone. Do I still need flood insurance?

Many homeowners believe that they only need flood insurance if their mortgage lender requires it. However, you do not need to live in a high-risk flood zone or near the coast to be at risk. Wherever it rains, it can flood, regardless of your proximity to a body of water. A report by the Insurance Information Institute states that 98% of counties in the United States have been impacted by flooding.*

How can I obtain flood insurance?

Insurance Solutions is proud to offer standard flood insurance through the National Flood Insurance Program, along with private flood insurance options from Neptune Flood Insurance. To learn more, visit our Flood Insurance page for additional details and self-quoting links. You can also contact one of our knowledgeable, friendly advisors to schedule a comprehensive review of your policies.

^*https://content.naic.org/sites/default/files/cipr-jir-2023-1.pdf