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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Insects, Spiders and Mites: A Workplace Hazard
Construction workers, farmers and landscape workers take note: insect-related deaths are most likely in your line of work. As reported by The Wall Street Journal’s The Numbers blog, a new report from the Bureau of Labor Statistics (BLS) finds that insects, arachnids, and mites were involved in 83 fatal occupational injuries from…
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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.…
