You know the importance of insuring the big-ticket items in your home like jewelry, collectibles, firearms, and art, but what about other things that can add up too?
Here's a quick rundown of high-end household items that might slip your mind when it comes to insurance: Insurers are tightening their standards and restrictions so before you call to file a homeowners insurance claim and have it denied, ask yourself these questions:
- Do you know specifically what your policy covers/excludes? - Was the damage from a sudden, acute circumstance or from a chronic issue over time? - Have you taken photos/videos to document the damage? - Have you spoken with your insurance agent to get his guidance on how you should proceed? It's very important you have this information BEFORE you contact your insurance company about the damage. Let's take an example: This is one of those endorsements to your homeowner's insurance that you may not think about until AFTER you need it.
This coverage covers all utility line damage that occurs on your property, including electrical, water, sewer, phone, and cable lines. These lines can be damaged by various factors like: Many insurance policy holders are getting a big surprise when they receive their upcoming renewal notices.
The news in a nutshell? Losses on the part of insurance companies are finally being seen in premium increases in renewal notices... AND as important, if not more so: insurance companies are also pulling out of certain states or disallowing new and policy renewal approvals. Why the sudden action on the part of carriers? Should you shop online for insurance?
It's definitely fast and convenient, but it can cost you in the long run when it comes to insurance coverage. There is so much more to know today about insurance. As insurance carriers have expanded their options, so has the complication of decision-making. Choosing your own insurance online is risky because you don't know what you don't know. With baseball season in full swing, an interesting insurance question that comes up is who is responsible for damages from a baseball hitting a spectator or a vehicle outside the park?
Or, what about damages from errant golf/hockey shots, auto racing accidents, and other sporting events? Generally speaking, the past 5 or so decades of case law has ruled that: Do you own motorized vehicles other than autos like golf carts, boats, motorcycles, or ATVs?
Insuring these can be very different from regular autos: Why should you use an INDEPENDENT insurance agent rather than a captive agent?
A captive agent represents only one insurance provider, like State Farm. An independent agent has access to numbers of insurance providers and has more options to offer clients. Advantages of using an independent agent include: Are you SURE your homeowners insurance covers all you need in light of current inflation?
You might be surprised at how many people are underinsured to begin with, much less adding in the cost of inflation to that. With the significant rise in construction costs over the past several years, your homeowners policy may not have enough coverage in case your home is damaged or destroyed. Even if you have an extra inflation protection endorsement, it may not be enough to cover the difference between the inflation factor and your coverage. As an independent insurance agent, I have numbers of companies to help you ensure adequate coverage at the best possible rates. Call me today at 706-726-1446 for a comprehensive review and quote. If you're taking to the road over the upcoming July 4th celebration period, drinking and driving can be one of the most expensive mistakes you can make.
When you get a DUI, do you know when it will show up on your insurance, how much to expect it to go up, and how long before it falls off your motor vehicle record (MVR)? Your home is usually the most expensive investment you will ever make.
Unfortunately, reports show that 2 out of 3 homeowners are UNDERINSURED. That means they don't have enough coverage to replace their home if it is destroyed. There are numbers of reasons for being underinsured including the choices you select for your policy coverage. Did you know that insurance carriers have their own requirements for accepting driver's education coursework for awarding a discount on your auto insurance premium?
If you're looking for a driver's ed discount on your auto insurance, it's best to check with your independent insurance agent. He can review the requirements of your insurance carrier with you so you select a good match. Have young drivers and want to see which insurance carrier provides the best coverage and rates for your situation? Call me at 706-726-1446 for timely help! When my neighbor's tree falls on my property, who pays for damage and tree removal?
This is a common question, but the answer depends on the circumstances. In general: Now that school is out for the summer and the temps are heating up, one of the main pastimes to enjoy is swimming. If you're a pool owner, you already know that having one increases your risk of filing an insurance claim because it's considered an "attractive nuisance."
Accidents can easily happen and can quickly turn tragic without anyone noticing. (Did you know drowning is the leading cause of unintentional death of children 1-4 years old?) Here are several tips you may not have thought about to minimize your risk; If you live in Georgia and South Carolina, there is a good possibility that you could experience damage from a hurricane-related event.
What insurance do you need to cover water and wind damage? Depending on exactly where you live, a good plan could include a combination of insurance policies. Here are some essential tips to take BEFORE a hurricane comes your way: You've just purchased a home, secured a standard homeowners insurance policy, and feel good about protecting your financial risk that comes with owning a home. But do you know what your standard policy covers and what common endorsements you should consider adding for your circumstance? An endorsement or rider is an addition to a standard policy that covers specific risks or enhances existing coverage. Here are some of the most common endorsements: The end of May marks the end of the school year for teenagers, and they'll be looking for things to do during summer break.
Teen driving will be a common element whatever activities they choose, so you'll want to be certain they're insured...but how do you do that without breaking the bank since they're considered high-risk drivers? Here are 5 strategies that can potentially lower your auto insurance premiums if you have a teenage driver. Laws vary by state, and you're not required in Georgia or South Carolina to have insurance on your personal vessel.
However, there are certain situations that may require you to have a boat policy: With Memorial Day holiday festivities coming up, it can be a challenge to find parking nearby an event...and even if you find a spot, it may be limited time parking.
Maybe the parking police won't notice I parked illegally, you think. But they did, and you were ticketed for the infraction. Will this affect your auto insurance premium? Surprisingly, your credit score IS one factor that can influence the price you pay for homeowners insurance coverage but why and how does it affect your premium?
When you're deciding which insurance carrier to use for your coverage needs, typically policyholders prioritize cost-related factors.
There is one factor that is rarely researched that can have a significant financial impact: When a vehicle is in an accident, the insurance company assesses the damage. How does the insurer quantify the damage and if a car is a total loss? The calculation may be a surprise to you. Here are the details:
When, purchasing a homeowners insurance policy, it's important to avoid these 5 common mistakes in order to ensure you protect your investment:
March Madness is an annual event in college basketball that captivates millions of fans across the country. As we watch the games and cheer for our favorite teams, we can also learn valuable lessons about selecting homeowners insurance.
Here are three important takeaways from March Madness that can help you choose the right homeowners insurance policy for your needs. In the age of online everything, you can get an insurance quote without a "middle-man." So why do you need an insurance agent, especially when you can instantly access a chatbot to answer your questions?
Simply put, if you decide to go solo, you'll face a variety of headaches when (not if) you must invoke your policy in claim situations and pray you chose the right coverage to prevent a financial catastrophe. A great insurance agent is priceless in partnering with you to provide personalized guidance for this critical type of financial protection. So what should you consider in deciding which insurance expert to place your trust in? Here are 7 factors to finding a great match: |
AuthorDennis Lam Archives
May 2024
Categories
All
|