RESOURCES & INSURANCE HELP
How to Choose the Right Insurance for Your Business
You can evaluate your insurance needs—and start your search for insurance—by first considering the size of your business. These definitions may vary, but are generally based on the number of employees, total sales and earnings. The definitions below can help you determine where your business falls—and your insurance professional can provide guidance as wel
What is Covered by Standard Homeowners Insurance?
Homeowners coverage provides financial protection against loss due to disasters, theft and accidents. Most standard policies include four essential types of coverage: Coverage for the structure of your home; Coverage for your personal belongings; Liability protection; Coverage for Additional Living Expenses
How Much Life Insurance do I Need?
If you have dependents, buy enough life insurance so that, when combined with other sources of income, it will replace the income you now generate for them, plus enough to offset any additional expenses they will incur to replace services you provide (for a simple example, if you do your own taxes, the survivors might have to hire a professional tax preparer). Also, your family might need extra money to make some changes after you die. For example, they may want to relocate, or your spouse may need to go back to school to be in a better position to help support the family.
Understanding Auto Insurance — The Basics
Auto insurance is a contract between you and the insurance company that protects you against financial loss in the event of an accident or theft. In exchange for your paying a premium, the insurance company agrees to pay your losses as outlined in your policy.
Auto insurance provides coverage for:
Property – such as damage to or theft of your car
Liability – your legal responsibility to others for bodily injury or property damage
Medical – the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses
Basic personal auto insurance is mandated by most U.S. states, and laws vary. Auto insurance coverages are priced individually (a la carte) to let you customize coverage amounts to suit your exact needs and budget.
Can Your Business Withstand a Disaster?
For a business, the costs of a disaster can extend beyond the physical damage to the premises, equipment, furniture and other business property. There's the potential loss of income while the premises are unusable. In addition, if you can't afford to close up shop during the repair period, there's the extra expense of keeping the business going at a temporary location. Your disaster recovery strategy should include a detailed review of your insurance policies to ensure there are no gaps in coverage.Property Insurance: Take a look at your property insurance policy. Is your property — the building and its contents — insured for current replacement prices? Don't forget to insure any improvements you've made to the property, such as new storage cabinets and carpets. There may be limitations on what the policy will pay for certain items. If you need higher amounts, discuss this with your agent.
Boat Owners Should Review Three Often Overlooked Policy Issues
Beyond covering a boat owner in the event of theft, boat insurance policies typically provide coverage to repair a boat if it is accidentally damaged or destroyed due to a collision or because the boat struck a submerged object. Property damage to a boat caused by vandalism, a windstorm, or lightning are also covered under most boat insurance policies.
Boat insurers typically assess risk and price their policies based on differing factors. For instance, a boat owner’s operational experience can play a large role in determining a prospective policyholder’s eligibility for coverage and what they will pay for a policy. The boat's make, model, age and value often influence the cost of a boat insurance policy, too. In addition, boat insurers want to know the boat’s primary cruising areas, also known as navigational territories.
Articles from: https://www.iii.org/