 Have you ever thought about how many people drive vehicles without having insurance coverage?
It's not something at the forefront of your mind until you're the victim of an auto accident where the at-fault party has no insurance coverage. Unfortunately, this is a reality for many drivers, making it all the more important to have adequate coverage for your own financial protection. Here are 5 reasons why:  As insurance rates have climbed over the past several years, it has insureds hard pruning coverages to offset those increases.
It's understandable why they're doing that, but it's like gambling with their money. Many become significantly under-insured when they do that and take on huge financial risk. It takes just one event to financially destroy them, as the following examples illustrate:  Owning or using a watercraft - whether a speedboat, jet ski, or pontoon - can be a source of great enjoyment but it comes with its own set of risks and responsibilities.
It should go without saying that understanding and having the right insurance coverage to protect yourself, your passengers, and your investment is a given. There are various types of watercraft coverage to consider including:
Then there are some key insurance considerations depending on whether you're a watercraft owner or a user:  Umbrella insurance serves as an added layer of protection, going beyond the confines of your existing insurance plans.
It acts as a safeguard against significant financial setbacks in situations where you may be deemed liable for damages or injuries to others including: bodily injury, property damage, personal liability, and advertising injury. Consider the following scenarios:  According to the Insurance Information Institute, nearly 13% of drivers countrywide are uninsured (12.9% in Georgia and 10.4% in South Carolina).
Many MORE drivers are UNDER-insured, meaning if they're found at fault in an accident, their policies aren't enough to cover accident-related losses. What recourse do you have if your car is hit and the person at fault doesn't have insurance?  The upcoming Thanksgiving holiday formally confirms we're in the busy holiday season, which brings its own unique hazards.
Here are 4 important insurance actions to take to maximize your protection during this festive time:  Throughout my career, I've had more clients than I'd like who declined certain insurance coverage only to then experience some tragedy in which that coverage would have provided much needed protection.
While you don't want to over insure your assets, you DO want to make sure your insurance is adequate. Insurance can be complex and confusing, so do yourself a favor and consult with a local experienced independent insurance agent. So you can avoid thinking: "I wish I'd ...." Don't gamble with your assets. Reach out to me for a comprehensive review to ensure you are adequately covered: 706-726-1446.  I commonly review policies with limits that are alarmingly low and leave the client much too open to financial liability.
This is one of the common mistakes people make when they self-select insurance coverage online. Here's a prime example:  If you experienced a significant home loss due to a weather disaster as many have in the last several months, how well could you document your property and contents to the insurance company in filing a claim?
The last thing you need is the added stress of trying to list out a detailed inventory after the fact. Before disaster strikes, take these 5 easy steps to create a detailed and comprehensive inventory of your home and possessions:  Numbers of reports indicate that:
· 66% (2 out of 3) of homes in the US are under-insured · 12/6% (1 in 8) motorists have NO insurance at all Why does this happen? In some cases, people can't afford that amount of insurance premium, opt for a lower amount, and take the risk of nothing happening to need it. BUT in many cases, people don't regularly review their policies. They fail to realize over time their policy coverage doesn't keep up with rising replacement costs and inflation. What are the consequences of being underinsured? Here are 3 examples:  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.  When, purchasing a homeowners insurance policy, it's important to avoid these 5 common mistakes in order to ensure you protect your investment:
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AuthorDennis Lam Archives
July 2024
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