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October 4, 2018 By QC Freequote

HO Claims Process

Owning a home comes with the possibility of having to deal with a loss on your house one day. Whether it’s due to hail, storms or the unexpected, things happen. It’s better to be prepared and have an idea of what to do next than be a ball of fluster once it happens. Continue reading to see what Travelers has to say about how the process works or click to link below to check them out for yourself.

Travelers

Owning a home can mean dealing with the unexpected. Learn what to expect if you have a homeowners claim. https://t.co/uc5p4HhqoM

— Travelers (@Travelers) September 30, 2018

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September 25, 2018 By QC Freequote

Buying Your First Home – Terms To Understand

Are you in the market for purchasing a home but can’t quite figure out the ins and outs? Foremost Insurance has posted a great article explaining the meanings of those “big words” you hear when going through the home buying process. Whether you are a first time home buyer or an experienced house flipping enthusiast, this article is sure to shed light on some of the home buying terms.

Continue down to read Foremost’s article or click the link below to visit their site!

https://blog.foremost.com/what-those-big-words-mean-buying-your-first-home.asp

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September 19, 2018 By QC Freequote

Protecting Your Valuables

Do you have valuable possessions without much protection? Check out Travelers’ article below on helpful tips and steps to take to ensure your valuables are covered.

5 Tips to Protect Your Possessions with Valuable Items Insurance Coverage

“You may think that a homeowners insurance policy provides adequate coverage for all your valuables, but policies may provide limited or no coverage for certain items — including generally expensive items — that are damaged or stolen.

For example, many homeowners policies generally have a $1,000 or $1,500 coverage amount for jewelry if the loss is due to theft. Such limits are in place to help keep homeowners policies affordable. However, if jewelry valued at $2,000 is stolen from your home and you have a $1,000 policy limit, you can only receive $1,000 from your insurer to replace the missing items.

That is when an insurance endorsement (sometimes called a rider) can provide increased coverage for your possessions. For an additional premium, this coverage can help protect you from the loss of high-end valuables such as jewelry, furs, antiques, artwork and collectibles.

Here are five tips that may help you decide whether you need valuable items coverage.

1. Read Your Insurance Policy

Your insurance policy is a contract between you and your carrier. This document includes the limits of how much you will be compensated when certain valuable items are damaged or stolen. Note that certain items may not be covered, so be sure to carefully review your policy to determine whether you have insurance that meets your needs. If you have questions, contact your insurance agent.

2. Have Your Valuables Appraised

You may have possessions that are worth more than you think. To help you decide whether you need additional coverage, it may be helpful to have them appraised. An appraisal can help you determine if your homeowners insurance policy covers the full value of your property, as some items may not be covered.

The value of some items, such as collectibles or jewelry, may be difficult to determine without professional assistance. It may be necessary to have your valuables reappraised periodically. If they increase in value, you may need additional coverage.

3. Create a Home Inventory

You may not be able to make a decision about whether to buy additional coverage until you know exactly what you own. You may want to take stock of your possessions by creating an inventory. Do not forget to check your garage, basement or attic for stored valuables, such as antiques and coin collections.

Be sure to list all items of value and include copies of receipts or appraisals when possible. This may help you if you ever need to file a claim with your insurance carrier.

4. Check Your Neighborhood’s Crime Rate

If you live in a community where the crime rate is high, you may have a greater need for additional coverage to protect your valuables. Police departments may track crime statistics and share this information with the public. You can consider asking your police department about home burglary trends in your neighborhood. Also consider installing a security alarm system. An alarm system may qualify you for a homeowners insurance discount.

5. Take Stock of Your Electronic Equipment

In our increasingly high-tech world, people use their electronic equipment to perform their jobs and maintain social connections. In recent years, many new gadgets and devices have been developed that may enhance our lives. If you keep high-end computers and other electronics in your home, you may want to make sure your homeowners policy will cover their loss.

Safeguard Your Personal Valuables

Your need to insure valuable items is something you may want to discuss with your agent whenever you buy a homeowners policy. If you purchase additional coverage for high-cost items, it is a good idea to understand its limits and exclusions.”

Check out the article or more on Travelers

What does your homeowners insurance policy cover? Get 5 tips to help protect belongings w/ a valuable items rider. https://t.co/YidUgji5Oa

— Travelers (@Travelers) September 18, 2018

September 12, 2018 By QC Freequote

Personal Umbrella

Personal lines umbrella policies are meant for an added source of coverage, and as of lately they have become more and more popular. Check out what one of our carriers has to say about why you might need and want an umbrella policy.

Why You Need a Personal Umbrella Policy

One of the most important insurance policies you can buy is the personal umbrella policy, but many people are unaware they need one. This policy provides high limits of liability to protect you against a catastrophic liability loss. For example, a major car accident may injure numerous people or cause head injuries or death that will result in liability far in excess of the limits typically purchased in a personal auto policy. An umbrella policy sits on top of the auto and homeowners policies to provide higher limits of protection. In addition to providing higher limits, this policy normally pays for some losses not covered by the underlying policy, such as legitimate allegations concerning libel or slander.

Personal umbrella policies are growing in popularity. In the past, only wealthy individuals and families purchased this coverage. Today, middle-income families also may procure this policy for protection in our society’s increasingly litigious climate. As the tendency to sue for damages rises and awards granted by the courts grow, the personal umbrella policy is increasingly seen as an insurance necessity, rather than a luxury. It is especially attractive because of its relatively low cost.

In particular, people with certain characteristics or who engage in certain activities have a higher-than-average need for a personal umbrella policy. These situations include the following:

Your total assets are greater than your underlying liability limits.
You are financially responsible for the actions of a young, inexperienced driver.
You live in an exclusive and affluent neighborhood.
You have a high-profile career or high income.
You frequently host guests on your property.
Your residence includes a swimming pool.
You own waterfront property, a farm, or a ranch.
You own watercraft, aircraft, or off-road vehicles.
You own numerous rental properties.
You engage in extensive international travel for pleasure.

Indeed, one could even argue that a lower-income person needs an umbrella policy. Consider an apartment dweller who inadvertently starts a fire while smoking in bed, and the fire damages adjoining apartments. The smoker’s liability exposure could be enormous in such a situation. So, once again, a personal umbrella policy is a wise purchase for people in nearly all income groups.

If you have more questions on Umbrella policies, contact your local IMT Agent today!

https://www.imtins.com/imt_minute/template/?id=362

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