Hard-to-insure homes
Although it’s always important to purchase homeowners insurance to protect your investment, some homes are harder to insure than others. These homes, referred to as “hard to place homes,” are usually exposed to a large number or variety of risks, and insurance providers are more hesitant to provide coverage for them. Here are some common […]
How does recoverable depreciation work?
Recoverable depreciation is an important, and often misunderstood, concept in the insurance industry. If you’re currently in the process of making an insurance claim, or, if you own insured property and assets that are subject to future claims, then it’s important you understand how recoverable depreciation works. Under most insurance policies, claim reimbursement starts with […]
Advanced Business Planning for Natural Disasters
Of all businesses that close down following a disaster, more than 25 percent never open their doors again. While there’s no way to lower the risk of a natural disaster from hurricanes, there are critical measures that can be taken to protect your company’s bottom line from nature’s fury. A disaster plan and adequate insurance […]
Protecting you and your family before, during and after a hurricane
Hurricanes are capable of producing winds in excess of 155 miles per hour and causing catastrophic damage to coastlines and several hundred miles inland. Additionally, hurricanes can also lead to storm surges along the coast and cause extensive damage from heavy rainfall. All Atlantic and Gulf of Mexico coastal areas are subject to hurricanes. Parts […]
2020 Hurricane Season: Are You Prepared?
Hurricanes are capable of producing winds in excess of 155 miles per hour and causing catastrophic damage to coastlines and several hundred miles inland. Additionally, hurricanes can also lead to storm surges along the coast and cause extensive damage from heavy rainfall.
COMMON BUSINESS INSURANCE TERMS
ACTUAL CASH VALUE (ACV): A method of determining value for a loss by taking its replacement value less depreciation. The term also refers to a type of policy that pays its claims in this fashion. ADDITIONAL INSURED: A person or entity added to a business policy for purposes of coverage. This may be a temporary […]
HOW ARE MY HOME RATES DETERMINED?
Ever wonder why you pay hundreds of dollars more for your home insurance than someone you know across town who owns a home you feel is very similar to yours? Here are a few of the factors that make up the way premiums are influenced and why they vary so much from home to home…. […]
Sinkhole vs. Catastrophic Ground Cover Collapse
Sinkhole vs. Catastrophic Ground Cover Collapse Recent legislation (the first 2007 special legislative session) changed the landscape of insurance relating to sinkhole coverage for property policies of admitted carriers. Before looking at the changes though, it’s important to take a quick look back in history to see “how it used to be.” Prior to the […]
Need for Renters Insurance
If you do not own the place where you live, you need renters insurance. Renters insurance is like homeowners insurance – only it is for renters. This insurance will help you replace items that are damaged or stolen. The liability insurance included in the policy will help protect your assets and savings. Up to a […]
HOW ARE MY AUTO RATES DETERMINED?
Ever wonder why you pay twice as much for your car insurance than your neighbor or your brother? You have an old car, he has a new one; so what’s the difference? Here are a few of the factors that make up the way premiums are influenced and why they vary so much from person […]