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Life Insurance: Which is Better, Term or Whole Life?

Life Insurance can often be a tricky subject, no one likes to imagine the worst-case scenario, but thinking about life insurance is an important part of taking care of your family. When someone passes away, they can leave in their wake mountains of debt, funeral costs, and bills that are difficult to pay. Life insurance offers a solution to that problem so that you can rest assured knowing that if anything should happen to you your family will be well taken care of. The big question that comes into play is deciding which type of life insurance policy to purchase, term or whole life?

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Filing an Insurance Claim After a Hurricane

After a hurricane hits, there can be a large variation in damage to property across a region. Some areas may be completely devastated while others have minimal damage. Although it is a scary and emotional process dealing with post hurricane damage, if you have flood insurance you should rest assured that when you file a claim you would be well taken care of. Despite the fact that you and your insurance company will work as a team to get you back to where you were before the storm, there are steps that can be taken to make this process go smoothly.

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Is Your Business Covered? What You Need to Know About Business General Liability

There are a couple of business essentials that no company should operate without, and general liability insurance is one of them. You know that it’s responsible to hold a general liability insurance policy, but do you know exactly what coverages it affords? Here’s everything you should know to make sure your business is covered from the unexpected.

What Does General Liability Insurance Do?

General liability insurance, also referred to as commercial general business liability, is an insurance policy designed to protect your company’s assets by covering the costs and expenses incurred during unexpected accidents.

You can expect your general liability insurance to provide coverage in the following instances:

  • Someone gets hurt on your business property
  • You or one of your employees causes property damages or injuries to others
  • You need to hire a legal defense
  • You must pay a settlement after losing a court battle
  • You cause damage to the property that you rent from a landlord

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Protecting Your Home From Common Holiday Hazards

The holiday season is exciting, festive, but also dangerous. There are many unique holiday hazards that pose extra risks to your home. Don’t overlook the biggest threats in your home, even if they are holiday inspired. Use these tips to protect your biggest investment and keep your family safe.

Pay Attention to Common Sources of House Fires

What conjures up the image of a cold December night more than a Christmas tree, a warm fireplace, and a scented candle? Unfortunately, all three are common causes of house fires. Make sure an unexpected fire doesn’t play a part in your holiday celebrations by following these tips:

  • Only use space heaters in clear, open areas
  • Inspect your fireplace and chimney before its first use of the season
  • Test your home’s carbon monoxide and smoke detectors
  • Don’t leave candles and fireplace flames unattended

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Water Damage Vs Flood: What’s Covered and What’s Not

The difference between flood damage and water damage isn’t well understood by most homeowners, yet it’s an essential distinction that has the potential to severely limit your ability to recover from a storm or other water incident. Make sure you understand what’s covered and not covered by your insurance when it comes to water and flood damage.

What Qualifies As Flood Damage?

The National Flood Insurance Program defines a flood as a temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties. A flood must be caused by an overflow of inland or tidal waters, unusual and rapid accumulation of surface waters, mudflow, or the collapse of land along the shore of a body of water.

As a homeowner, this means that water damage on your properly only qualifies as flooding if it also affects at least one of your neighbors. Keep in mind that most flood insurance policies require a 30-day waiting period before the policy takes effect, so implementing a flood insurance policy the day before a hurricane arrives won’t help you minimize your losses. Continue reading “Water Damage Vs Flood: What’s Covered and What’s Not”

Hurricane Preparedness: How to Protect Your Home This Season

hurricane insurance floridaThe harsh Florida summer season is almost over, but it will quickly be replaced by hurricane season. Even if you don’t live on the coast, your home is still vulnerable to wind damage, flooding, and other issues caused by natural disasters. Use the following tips to prepare your home and minimize costly damage during this year’s hurricane season.

Trim Overgrown Trees Now

Strong winds turn majestic shade trees into weapons of destruction. Take the initiative now to trim trees with large, high branches that pose a risk to you, your home, and your neighbors. Preventative action now will minimize damage during the next inevitable hurricane. It could even save a life!

 

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Homeowners Insurance 101: The Importance of a Personal Article Floater

homeowners insurance policyYou have a homeowner’s insurance policy, but is it enough to cover you in every unexpected situation? If you don’t have a personal article floater, the answer is likely “no”.

A standard home insurance policy will cover the major items in your home like appliances, furniture, and clothing. The exact specifications of your policy may or may not allow coverage for jewelry, electronics, and antiques. Many homeowners don’t realize the limits of their coverage until tragedy hits and their settlements do not cover the true costs of their damages.

You can prevent falling into this situation by purchasing a personal article floater.

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Cars and Depreciation: Why You Need Gap Insurance

According to the Federal Reserve Bank of New York, 107 million Americans have auto loans, which means that 43% of Americans owe money on their vehicles. This can be dangerous considering that cars depreciate so quickly and leave car owners upside down in their loans. If you owe more on your car loan than your car is worth, you’re certainly not alone, and gap insurance can help.

What You Should Know About Car Depreciation

If you buy a brand new car, it loses up to 30% of its total value the instant you drive it off the sales lot. This loss of value doesn’t stop, either. As of 2017, the average rate of depreciation of a vehicle between years two to six was 17.6%. Even if you buy a used car to avoid that initial 30% loss in value, you’re not shielded from depreciation in the future. Continue reading “Cars and Depreciation: Why You Need Gap Insurance”