Customers buy insurance to minimize their risk and make them whole should a covered loss occur. What many may not understand is that a number of factors can cause their premiums to skyrocket before a covered peril even occurs. Adjusters and claims managers handling the ensuing claims also need to be…
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Insureds Rarely Have Home Inventories Despite Benefits
Despite big storms and wildfires highlighting the need, home inventories are rare, say insurance industry experts. A recent Allstate Insurance survey of Atlanta homeowners found that while than more than 90 percent of homeowners are concerned about protecting their homes, only 41 percent had ever documented or valued their contents.…
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How to Assess Your Home Insurance Policy
Home insurance plans tend to get ignored until they’re needed, and that can be a costly mistake for homeowners. “Most homes in the U.S. are underinsured, and it gets worse if you’ve renovated or upgraded your home,” says Mary Boyd, division president at ACE Private Risk Services. Home insurance will…
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3 Things Dog Owners Need to Know About Homeowners Insurance
Up to 47% of American households have a dog, and for insurance companies, these households represent a risk. In 2013, homeowners insurance policies paid out some $483 million in dog bite liability claims. Obviously, insurance companies would rather not be shelling out hundreds of millions of dollars over dog bites.…
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Hosting a Super Bowl party? Watch out for these 3 risks
Revisiting some old Super Bowl party tips that should still apply to this year…. The clock is counting down to kick-off time for this year’s Super Bowl , and you’re in the midst of party planning. But have you added reviewing your insurance coverage to the checklist? Most people probably…
