Archive for 'Homeowners Insurance'
How Can I Insure My Ring?
July 14th, 2010. Published under Homeowners Insurance, Insurance Agents, Insurance Claims, Jewelry Floater, Renters Insurance. No Comments.
If you recently became engaged or received a very nice gift of jewelry, you will want to know if your insurance covers your jewelry.
Insuring your ring, requires an appraisal or bill of sale. Your insurance agent will usually add a “jewelry floater” to your renters, condo or homeowners policy. Your jewelry piece will have its own deductible which could range from $0 on up.
Insurance companies use the appraisal as the basis of what they will pay in the event of a claim. Auto insurance policies are ACV or actual cash value. When you suffer a loss you are paid the value of the vehicle at that moment in time.
A jewelry floater establishes the value of the jewelry. You will be paid that dollar amount minus your deductible when you have a claim.
Does your policy cover “mysterious disappearance”? Some policies will, ask your agent.
Insure your ring, and get peace of mind. Priceless!
Who sells Flood Insurance, FEMA Flood Insurance Policies
June 22nd, 2010. Published under Flood Insurance, Homeowners Insurance, Insurance Claims. No Comments.
http://www.reneedarata.com Where can the consumer purchase flood insurance? The Jordan River winds its way through the Salt Lake Valley near homes and businesses. The threat of flooding is real. Fema’s website lists agents.
For further information contact Renee Darata @ 801.748.0500
How do I buy Flood Insurance?
June 8th, 2010. Published under Flood Insurance, Homeowners Insurance, Insurance Claims, Restoration. No Comments.
Homeowners and Businesses in Utah have been affected by the weather. Homes with flooded basements, businesses with flooded parking lots have been hard hit. We have an alert for more flooding due to the sudden increase in temperatures causing the snowpack to melt rapidly and add to already swollen creeks.
Only flood insurance can cover damage due to flood. There is a 30 day waiting period for flood insurance.
Contact my agency for further information @ 801.748.0500
Video Courtesy of KSL.com
Inventory Record for Insurance Claims
May 3rd, 2010. Published under Business, Homeowners Insurance, Insurance Claims. No Comments.
Have you ever really thought about replacing everything in your home?
If you suffered a fire, or explosion, chances are you would lose a lot of your “stuff”.
We each own different things, but they have meaning for us and we would want to replace them.
When you file an insurance claim, you will be assigned an insurance adjuster and they will meet with you and ask you for a “list” of what has been damaged, destroyed or lost.
If you have an inventory record of at least your main items, that will be a way to begin the process.
There are different ways to make an inventory record. We have paper booklets that let you write a short description of the item and add serial #’s. We also have digital inventory records that allow you to scan in photo’s, receipts, and other documents that show what you own.
In any case, you want to keep the inventory record stored away from home: in your office, at a relative’s home, etc.
We can help you inventory your personal property or business property.
Are All Insurance Agents the Same?
March 9th, 2010. Published under Auto Insurance, Homeowners Insurance, Insurance Agents, Insurance Claims. No Comments.
How do you select an insurance agent?
Do you really need the services of an agent?
What does an agent really do for the customer?
Ther are two types of insurance agents: captive and independent.
A captive agent works primarily for one company, Allstate, State Farm, etc. An independent agent writes insurance for a variety of companies.
Captive agents have authority to bind coverage and to make changes quickly.
If a client walked into my office to buy auto insurance and I bind coverage, the client is covered as soon as they leave my office.
An independent agent may have some binding authority but may have to send all new business, and policy changes in to a service center to be completed. The policy would not begin until it has been processed.
An agent should be helping the client pick the right coverage. An agent should be there to assist when there is a claim. An agent should be able to help with billing problems. An agent should be able to add a new policy quickly. An agent should be able to answer coverage questions.
When choosing an agent ask about their availability.
Do they answer the phone Saturday afternoon when you were rear ended?
Do they answer the phone at 7 pm when your pipes broke?
Interview a few agents before deciding which office you place your policies with. Do not choose an agent just because they quoted a low price.
Shopping for Insurance
February 23rd, 2010. Published under Auto Insurance, Homeowners Insurance, Insurance Claims, Renters Insurance. No Comments.
You may already have heard the news. Allstate Insurance is terminating about 20% of their agency force.
News such as this causes consumers to shop their insurance. (When AIG took bailout $$, many consumers made a change) There is a fear of the unknown. Who should they call? Will their new agent be responsive? What if they need to make changes before they have been transferred?
When shopping for insurance, price should not be the main consideration. Yes, I know you’re shaking your head. Many consumers look at the bottom line, and want a low price on their auto, home, renters, condo, boat, etc policy. But, what is your cost when you have a claim?
If you choose higher deductibles to save $50 and then have a claim a week later with a deductible $500 higher, did you save any money? Of course not. If you decline physical damage coverage on your truck and an uninsured motorist hits you, you pay for the cost of repairs.
When shopping for insurance, be prepared to give information about your home/auto/motorcycle, etc. to the agent and or call center. They will ask about your driving record, coverages needed, mortgage and lienholder info, etc.
WHAT NOT TO DO WHEN YOU HAVE A FLOOD-Part 2
February 12th, 2010. Published under Homeowners Insurance, Insurance Claims, Mitigation, blog. No Comments.
First, please contact your insurance agent.
Many homeowners try and clean up the water themselves and then end up filing a claim anyway. They didn’t save any $$, because their deductible still applies. In fact, the claim may be more expensive because the damage is greater. The longer water sits, the more damage.
Ask your agent if they have a preferred vendor or if they have a recommendation.
Most restoration companies today can remediate the damage quickly and prevent mold growth.
Most importantly, they can get your life back to normal.
WHAT NOT TO DO WHEN YOU HAVE A FLOOD- Part 1
February 1st, 2010. Published under Homeowners Insurance, Insurance Claims, Mitigation. No Comments.
Do not try and clean up the water yourself!!
Do not hire a carpet cleaner to vacuum up the water.
Do not clean up the water and place an ordinary house fan out to dry out the carpet.
This is a recipe for mold.
Yes, black mold.
Insurance policies now exclude mold damage and it is very expensive to eradicate.
Stay tuned for Part 2.
My Bank told Me to Buy a Builders Risk Policy
January 29th, 2010. Published under Contractors, Homeowners Insurance. No Comments.
I know you’re thinking, what is builders risk?
When you do a major home renovation or hire a contractor to build a home, you need a builders risk or course of construction policy to insure your home.
The standard homeowners policy doesn’t cover the enhanced risk of renovation. Don’t take a chance on losing everything, buy the proper insurance coverage.
I have heard horror stories from people who thought their contractors were insuring the home construction. The contractor just had a Business General Liability Policy covering General Liability or Products and Completed Operations liability. This isn’t the same as insuring the home. If you took out a construction loan, take charge, and purchase the insurance yourself.
I can help you with this important coverage.
Choosing a Business for a Home Repair
January 6th, 2010. Published under General Liability, Homeowners Insurance, Liability Insurance, Proof of Insurance. No Comments.
It’s a new year and you decided to remodel your kitchen, or replace your deck. You’ve made some phone calls and are trying to decide who to hire for the job.
