 Most standard homeowners insurance policies with "all-perils" coverage do include protection against tornado damage. However, that doesn’t always mean you're fully covered.
Certain exclusions, limitations, and policy conditions could affect how much you receive after a storm. Here are some key factors that could impact your tornado coverage: How Do You Determine The True Value Of Your Expensive Holiday Gifts For Insurance Purposes?12/31/2024
 Determining the true value of your holiday gifts for insurance purposes is a step you don't want to overlook in ensuring adequate policy coverage. Here are 6 key methods to accurately assess the value of your presents:
 This is the perfect time of year to make sure your house and property are in top shape for the upcoming fall and winter seasons.
Seasonal maintenance inside and outside your house can help you avoid not only costly repairs, but also prevent insurance claims and keep your premiums in check. Here are 5 insurance-related tips to protect your property as this fall season approaches:  Hardly a day goes by that I don't hear comments bemoaning the rise of homeowners insurance - or worse - the receipt of a non-renewal notice from an insurance company.
Why are these actions happening and affecting even those who haven't filed a claim on their homeowners insurance? Recent reports shed a spotlight on the data found, including these 4 eye-opening facts that help answer that question:  Did you know July 4th consistently ranks as one of the biggest days for insurance claims?
So as you gear up to celebrate Independence Day, be very aware of the potential risks that come with the fun and festivities. Here's what you need to know to protect yourself and your property:  We're well into severe storm season and have already seen some storms cause damage in our area. Before the next storm blows through, there are things you can do quickly beforehand to minimize weather-related damage and prevent an insurance claim.
In addition to tips I've mentioned before, here are 3 more tasks you can do now:  As with other industries, the insurance market is cyclical, and we're currently in what's called a "hard market."
A hard market is when political, societal, climate, and other factors cause insurers' profits to fall. Over the past several years, the impact of these factors have combined to a point where insurers have experienced greater losses and have had to make adjustments to maintain profitability. Insurers have become more conservative in what they are underwriting causing their portfolios to shrink and clients' premiums to rise. Historically, hard markets haven't lasted as long as "soft markets," which is when market conditions are just the opposite. In soft markets, insurers' revenue reserves are higher and they are able to be less strict in the risk they underwrite. This allows them to increase their client portfolios, there is more competition among companies, and premiums are very stable over time. SO, what can you do while we're in a hard market to soften its impact?  Have you noticed the severe thunderstorms including hundreds of lightning strikes that have swept across large swaths of our country over the past several weeks?
Lightning is among the most prevalent natural hazards capable of inflicting damage upon residential properties. It's important to understand what aspects of lightning-related harm are covered by your homeowners insurance policy, what falls outside its scope, and the necessary steps to take should your home sustain a direct strike.  In the past, homeowners who rented out their properties once a year for local events often relied on their standard homeowners insurance.
But with the surge in short-term vacation rentals, insurance policies have also evolved, prompting the need for a closer look at coverage options, including these 5 areas:  Check this out: a recent survey revealed that a staggering 65% of Americans are in the dark about the full extent of their home insurance coverage.
Even more surprising, 45% have faced the harsh reality of having their insurance claim denied due to insufficient coverage. That's why it's crucial to engage in regular conversations with your local independent insurance agent. This ensures that you not only recall your existing coverage but also assess whether any adjustments are needed. To guide your discussion, ask these 8 essential questions:  With Valentine's Day coming up soon, we can expect to exchange our expressions of love through cards, flowers, chocolate, and yes, engagement rings.
Valentine's Day is one of the most common days to get engaged, second only to Christmas Day. If you're planning to pop the question this Valentine's Day, have you thought about protecting your investment of that important piece of jewelry? Here's what you need to know about insuring an engagement ring:  With 2023 wrapped up, remember to add "evaluate your insurance coverage" to your New Year's resolutions list. Why? Because changes you and your family experienced during 2023 or upcoming ones you expect this year will impact your insurance requirements.
Common examples include:  As 2023 has wrapped up, it's time to re-evaluate your insurance plans. Why? Because changes you and your family experienced during 2023 or upcoming ones you expect this year will impact your insurance requirements.
Common examples include: |
AuthorDennis Lam Archives
July 2024
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