Homeowners might assume that once they purchase an insurance policy for their residence, they will be covered in the event of theft or damage. Unfortunately, however, claims can be denied.
Here are the most common reasons for denying homeowner’s insurance claims. [Read more…] about Common reasons for denying homeowner’s insurance claims
Rock salt has long been a go-to item for clearing driveways and walkways of ice during the winter. But can de-icing salt be dangerous? When it comes to your concrete and asphalt surfaces, yes. [Read more…] about Can de-icing salt damage your driveway?
Many of us are aware of some homeowner’s insurance discount options, like bundling coverage into a single package for more affordable rates.
But there are some lesser-known discounts you might want to take advantage of. [Read more…] about Lesser-known home insurance discounts
The holiday season is upon us, and that means it’s time to bust out the decorations. Unfortunately, problems can arise, so check out these safety tips before you deck the halls! [Read more…] about Safety tips for holiday decorating
Life is full of unknowns, but with life insurance, you can at least rest easy knowing your loved ones will be cared for. However, insurance policies can sometimes be difficult to understand, leaving you with more questions than answers. To help, we’ve addressed some of the most frequently asked questions about life insurance.
Life insurance is not always necessary. However, for the vast majority of people, at least a small policy is required. Below are just some of the things life insurance can assist with:
• Medical bills
• Funeral expenses
• Burial costs
• Mortgage balance
• College funding
• Income replacement
• General debt
Those with dependents will likely reap the most benefits of being insured. Children, spouses and adult relatives who require care or financial assistance from you will require some financial help in the event of your death.
It is never too early for a life insurance policy. Many people take out such policies for their children at birth. However, if you have dependents or debt, a life insurance policy is vital. If you have neither, it is still wise to take out enough coverage for end-of-life costs.
Compared to other types of insurance policies, life insurance is generally quite affordable. The rate you pay will be based on your age and health, so the policy will cost more as you get older or develop health problems.
You do not pay taxes on life insurance. However, before the money from the policy is given to your beneficiaries, tax will be taken out. The amount taken will be determined by where you live and if the funds are forwarded to an estate or not.
You can name anyone as your beneficiary. In fact, you can name multiple people, charities or even just your estate. It is entirely up to you!
In the majority of cases, yes. There are some life insurance policies that do not require a medical exam. However, they tend to cost more and offer less coverage.
If you have more questions or are ready to take out a policy, speak with an insurance broker.
If you take great pride in your outdoor holiday display, you no doubt want to protect it as best as you can.
This leads to the question: Does homeowners insurance cover holiday decorations?
It might surprise you, but a lot can go wrong with holiday displays. One common problem is theft. In fact, there have been cases where thousands of dollars-worth of decorations have been stolen from people’s yards. Vandalism also occurs with shocking frequency, when people damage, deface or destroy decorations. Finally, there is always the possibility of winter weather mangling your hard work.
If your property is insured, your insurance company should cover decorations placed on the property. The amount of coverage will depend on the limits listed in your policy. Review your policy prior to decorating to assure there is no existing clause excluding décor coverage or anything that labels them a nuisance.
If you are investing significant money in your holiday display and you would be open to filing a claim if needed, then prepare for the possibility. Keep receipts for all holiday decorations and take photos of them as a safety measure.
If you are concerned about having a policy to cover your decorations, speak with an insurance broker.
In-home daycares have become a popular form business, especially for retirees who still have backyard swing sets and toys. However, it can be a risky business.
Anyone who has or is considering starting an in-home daycare must take out the correct insurance policies.
It is quite common for in-home daycare providers to assume that their homeowners policy will cover their daycare as well, but this is unlikely. Homeowners policies tend to be limited to standard residential use of the home. In-home daycares—and other businesses run from the home—are not covered.
If your homeowners policy does not cover business use of your home, ask about a business coverage endorsement. Although there is a fee, an endorsement provides extra coverage for an existing policy and is generally recommended for smaller businesses. If your daycare outgrows the endorsement, you may need to purchase a separate business insurance policy.
Accidents happen, and so does getting sued. The risks are much higher with children, and not only because they’re accident-prone.
While adults might be partially at fault for their own accidents, an accident involving a child will likely be blamed entirely on your lack of attention.
Finally, you need to consider the interplay between insurance and your local laws. For example, a license may be required before opening the daycare, and part of getting that license may be getting the correct insurance coverage. Conversely, your insurance provider may demand proof of license before your policy becomes active. You may also need to follow all local laws regarding your business for your policy to remain valid. For example, if the law says no more than four kids per adult and you take on six, you may face legal ramifications and have your insurance claims denied.
Are you interested in learning about insurance coverage for in-home daycares? Speak with your insurance broker.
Are you feeling unhappy with your current insurance provider? Even if they were initially the right company when you took out your policy, your needs might’ve changed.
Here are some tips for making the switch to a provider that works better for you. [Read more…] about Tips for switching insurance providers
Many homeowners associations have detailed rules governing how the outside of your home, yard and common areas can be decorated.
Here is what you need to know about your HOA and holiday décor. [Read more…] about Homeowners associations and holiday decorations: what you need to know
Fireplaces are wonderful for both staying warm and adding ambiance to your home. However, they do require some work. To get yours ready for the winter season, follow our tips below. [Read more…] about Tips for getting your fireplace ready for winter