March Madness is Not Over

A Insurance Review

March is over and we spent the while month watching 64 college basketball teams play to the final four, then to the championship game.  Congratulations to North Carolina! These can impact your business insurance and personal insurance programs. The entire thing reminded us of some insurance madness. We thought we would share with you our “insurance madness final four.”

Insurance Madness Final Four

  1. Always use an independent agent. Independent agents will search the market for the best possible insurance designed for your family or business. Independents agent do not work for an insurance company, they represent you and look out after your interests first.
  2. Never buy insurance online. When you buy insurance online you never know if you are getting the best combination of coverage, price, and service. However, you do find out when you have an uninsured claim.
  3. Always consider deductible options. A simple way to save money is to consider increasing your deductible on your auto insurance, home insurance, or even your business insurance.
  4. Many people don’t consider these coverage’s but they should
    1. Identity theft is the fastest growing crime in the United States. Every homeowner should consider identity theft coverage.
    2. A personal umbrella can offer additional protection for those who own a home or have personal assets worth protecting.
    3. Your business might be at risk if you do not have cyber liability or employment practices liability.

All these coverage’s are easy to add to your business insurance program.

 

 

Home Inventory Documentation Now Has an Application (App)

A Home Insurance Update

Developing a home inventory is recommended by all insurers. A home inventory is the best way to account for all your personal property. Most people under-estimate the value of their personal property after a loss. Your homeowner’s insurance is designed to provide replacement cost (if purchased) in the event of a loss, so knowing the full value of your property puts you at an advantage.

The KnowYourStuff app is the official home inventory application (app) of the Insurance Information Institute.  A home inventory can save time, money, and peace of mind, and can help you get the most value from your insurance in the event of a fire or other loss.  This app also helps you understand the value of your personal property.  “Need to see your stuff at a glance?  The user-friendly dashboard has charts, tables, and graphs that show total value of your belongings by property, room, and collection.” (knowyourstuff.org).

Your homeowner’s insurance is an important financial tool to help you manage your assets.  Why not make sure you take full advantage of your coverage by having a comprehensive list of your personal property and an up to date replacement value.