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Preparing Your Business for the Event of a Flood

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Just like your home, your business can flood and potentially experience extensive damage. However, your business has a completely different set of risks than your home does. After a flood in your place of business, you could experience loss resulting from damage to records, inventory, equipment, and technology as well as other valuable property and assets. You also face a potential loss of business income in the time it takes to restore your facility – not to mention the cost of debris removal, cleanup, and restoration. Business owners can mitigate risk by developing a flood disaster plan and, of course, by having the proper insurance coverage in place.

Flood Damage Is Serious Business for Your Business

Flooding can be caused by many events, including heavy rainfall, overflow from rivers or ponds, or a breach in a levee or dam. Often, flash floods can occur with almost no warning. In regards to damage, floods do more than simply make everything wet. Flooding can cause structural and electrical damage. The flood water itself often contains sharp debris like metal or glass fragments or hazardous, unsanitary matter, and this water can contaminate anything it touches. Of course, if employees are present at the time of the flooding, their lives can also be in great danger.

Ask Your Agent About Available Insurance Coverage

Most standard commercial policies do not cover flood damage. However, some carriers offer coverage that is specifically tailored for business floods. The majority of these policies are provided through the National Flood Insurance Program (NFIP), which is managed by the Federal Emergency Management Agency (FEMA). The NFIP only covers commercial property, so you will need to ask your agent about adding flood-specific business interruption coverage to protect your operation against loss of income.

Create a Comprehensive Workplace Flood Disaster Plan

One of the most important ways you can prepare your business for the event of a flood is to keep copies of your insurance documentation and other vital documents in a location that will be safe from any potential flood damage; you can even keep these documents off site if you are able. In addition to important documents, you will want to keep a backup list of all employees’ contact information. The next step is to assess the risks your building faces – check all walls and seams for cracks, move valuable items from bottoms floors if possible, and consider installing a sump pump to help prevent water from getting inside your building. Finally, in the event of an emergency during work hours, you will need an evacuation plan that all employees are trained in.

In the Event of a Flood…

You will be grateful that you have insurance to lessen the impact of the damage. Reach out to your agent today to find out more about your options to get covered.

What to Do If Your Car Is Stolen

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First, Remain Calm

If you believe your car has been stolen, your immediate response is likely to completely freak out. This is understandable, but there is a chance you could be mistaken. It is possible that your car was towed or even that your teenager took it without asking. Make a few calls to local towing companies to see if your car is with them. If you determine that your car was, in fact, stolen, you must still remain calm so you can follow the correct procedures.

Call the Police

This is your first step once you know your vehicle was taken. To report your car as stolen, you will need to provide facts that the police can use to identify your car. This information includes a detailed description of the vehicle including make, model and year, color, and any unique features such as bumper stickers or dents. You will also want to have your license plate number and vehicle identification number (VIN) on hand to provide to police. If you don’t know these off the top of your head, consider keeping a note of them in your wallet or cell phone. It’s especially important to contact police right off the bat, since many carriers will not honor a claim unless a police report is filed first.

Contact Your Insurance Agent

After filing a report with the police, it is time to file a claim with your insurance. Only a comprehensive auto insurance policy offers coverage in the case of theft, but even if you do not have this policy it is a good idea to notify your insurance agent about the incident. By notifying insurance, you may still be able protect yourself against any damage that occurs to persons or property while the vehicle is in possession of the thief or thieves. You will want to have at hand the same vehicle information you provided to the police, as well as items such as the title, a list of the location of all keys to the vehicle, a list of any personal property that was in the vehicle, the police report number, and contact information for your finance or leasing company. You provide the information, and your agent will take care of the rest.

Final Steps

After taking the initial steps to report the theft to police and involve your insurance agent, you will want to tie up any loose ends by notifying other parties that have an interest in your vehicle. Your agent will likely take care of this, but you can also place a call to your finance or leasing company. Report the theft to the DMV as well.

You should continue working with your insurance agent to see about rental vehicle coverage, but the only thing to do once all these steps have been completed is to wait. Your car may be recovered, but unfortunately there is a chance it may not be. Your agent will be there by your side throughout the process, whatever happens.

Retirement Plans: What You Are Truly Saving For

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At first, it may seem like all that money you put into retirement savings over the years is pointless. However, in actuality, you will be thanking yourself for setting aside so much money once the time comes. Take a look at what you can look forward to after saving for retirement for so long.

Savings For: Travel & Vacation

Now that you have so many hours in the day to fill up, why not spend it going to places you’ve always wanted to see? Instead of daydreaming about paradise, you can actually go visit it with all the money you have saved up in your retirement plans! Retirement is the perfect time to see the world and all it has to offer. You may be surprised what you find out there. And with the right amount in your 401(k) or IRA plans, you can even make a vacation out of your adventure. You don’t have to worry about taking a personal day when you can have as many as you want to do whatever you want!

Savings For: A New Hobby

Have you ever wanted to take cooking classes? Or maybe even dancing classes? You may not have had time for hobbies in the past, or money, but now you do! Enjoy the things in life you couldn’t before by putting your savings to use the way you want. There is no better time to do this than during retirement.

Savings For: Your Loved Ones

When saving for retirement, you are not just trying to put aside money to spend on things you couldn’t afford before. You are also ensuring time with your loved ones. By saving enough money to enter retirement through various plans, you can spend your free time with your loved ones and bond like never before instead of focusing on work. You have worked so hard to ensure they have a good and happy life. Now you can be a part of it too.

Savings For: Volunteer Services

Volunteering is a great way to help those in need, but it can be difficult when you have to take care of yourself first. However, with your savings on your side, you don’t have to worry. Instead, you can spend your time volunteering without worrying about the fact that you do not make money profit because you know you are safe and secure with your retirement plans. Instead of constantly working to make ends meet, you can work the way you want by helping others.

Savings For: A Better Future

Many people look forward to retirement because it provides a time that is dedicated to the things you want. You can finally live happily after all the work you’ve put in. Without saving or investing in an insurance plan, your retirement may not be a fun time filled with all the opportunities listed above. Enjoy retirement by having our agency go over with you the best options for your retirement plan so your future is filled with joy. 

How to Lower Your Premiums on Home Insurance

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As long as you own a home, homeowners insurance doesn’t go away. What’s worse is that insurance premiums have the tendency to increase over the years. Whether you are shopping for homeowners insurance for your first home or looking to decrease your premiums for your current home, here are a few tips to help you make your insurance more affordable.

Improve Your Home Security

By decreasing vulnerabilities in your home, you can potentially cut your insurance premiums by as much as 15-25 percent. Methods of improving your home security can include adding a smoke detector, burglar alarm, dead-bolt locks, sprinkler system, and professionally installed storm shutters and doors. With these added safety measures in place, your house is less likely to receive damage from unforeseen instances such as storms, floods, fire, or burglary. If you do make these safety upgrades to your home, keep a record of your receipts in case your provider wants proof before lowering your premium.

Know Your Location

If you haven’t bought your home yet, check the CLUE (Comprehensive Loss Underwriting Exchange) report of the home you are interested in. These reports will be able to tell you the property’s insurance claim history so you can be familiar with any problems the house has had.

Increase Your Deductible

A deductible is the amount of risk you agree to accept before the insurance company starts paying on a claim. The higher your deductible, the more money you can save on your insurance premiums. You could save up to 25% on your premiums simply by doubling your deductible.

Bundle Your Home and Auto Policies

If you already have auto insurance, consider either purchasing your home insurance with the same provider or moving your auto insurance to your new home insurance provider. More often than not, you can save a lot of money on your premiums by bundling the two with the same provider. In fact, bundling can save you anywhere from 5 to 15 percent on your monthly payment.

Determine if Loyalty Matters

Insurance providers typically reward their loyal customers by offering policy discounts. Some insurers will reduce your premiums by 5 percent if you stay with them for three to five years and by 10 percent if you remain a policyholder for six years or more. However, while loyalty has its benefits, some providers offer cheaper discounts to new clients who switch over to their agency.
Make sure you do not ignore such opportunities by occasionally checking your price with other policies that could potentially be cheaper from the beginning.

Don’t Buy What You Don’t Need

This might sound obvious, but don’t have insurance for things you don’t need to cover. For example, if you aren’t in a flood zone, flood insurance may not be the best option for you. Or, if you don’t have any expensive jewelry, you shouldn’t need a jewelry policy. So unless you have a good reason for having a type of insurance, you probably shouldn’t have it. With that being said, it would also be a good idea to reevaluate your coverage each year to make sure your policies are relevant to your current lifestyle. Having one that is unneeded will only make you spend unnecessary money that could be used elsewhere.

Shop Around

Odds are that you aren’t going to pick the cheapest insurance provider with your first choice. In order to make sure you don’t pay more than necessary, shop around either before purchasing home insurance or before renewing your current policy. Ask your friends who they are covered through and check consumer guides to be sure you get the lowest rates that fit your current situation.

To be sure you get the lowest premiums on your homeowners insurance, contact our agency today. We’ll do the shopping for you to get you the best coverage at the best price, whether it’s your first time or you need a readjustment upon renewal time.

How Will Adding a Teenage Driver Impact My Car Insurance?

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So, your teen is ready to get their license. It’s an exciting time for them! And maybe for you too, although you may have a number of concerns when it comes to adding a less experienced driver to your insurance plan. There’s the matter of their safety, whether or not they will break certain rules and restrictions on the road, as well as how they will affect your car insurance rates.

Keeping a teenage driver covered under an insurance plan can be extremely expensive, but going without insurance is not an option. While adding a teen driver may be pricey and stressful, there are many ways to lessen the cost. Below are just a few ways you can keep costs down while sending your new driver out on the road.

Mentor by Practicing Good Driving Habits Yourself

If you’re not practicing good driving habits yourself, how can you be your teen’s best mentor? To avoid additional costs, you’ll want to do everything in your power to help them avoid an accident. Have your teen strictly follow safety practices when driving such as putting their phone away, limiting distractions, and buckling up. Make sure they know and follow basic rules of the road every time they drive with you, and hold yourself accountable as well.

Increase Your Liability Coverage

You’ll probably want to increase your liability coverage before your teen even gets behind the wheel. The car they will be driving is in your name, so that means YOU are liable for whatever happens when they’re on the road. Because they are just learning to drive, you’ll definitely want to make sure you have the right coverage plan in case you are held accountable for something you did not do. While you probably do not wish to add an additional amount to your bills, liability will literally save you should a bad accident and subsequent lawsuits occur.

Have Them Drive an Older or Used Car

Because teenage drivers are at a greater risk of getting in an accident, it would be wise to have them drive an older or used car. The car shouldn’t be so old that it’s not up-to-date regarding safety, but having them drive in a well-running vehicle that’s a bit older could save you a great deal of money in the future. These cars are much less expensive to repair should damage occur to them.

Enroll in a Driver Tracking Program

Today, a number of insurance companies provide small devices that monitor driving habits and patterns. These trackers can tell how fast you’re going, the distance at which you break, and other important factors that can give your teen insight as to how they are regularly driving. With this type of information feedback, teens should be able to recognize where their driving could use improvement. Once your teen begins implementing better driving habits, you may see your monthly rates gradually decrease.

Ask About a Distant Driver Discount

When the time comes for your teen to head off to college, they may not take a vehicle with them. Less than half of teenage drivers head off to college with a car in tow. If your child falls into this category, you may be able to get a discount during the time they are away and not driving. In many instances, they don’t have to be very far from home to qualify for a distant driver discount. Check with your insurance provider to see if your teenage driver qualifies you for this type of discount today.

As soon as your teenager begins to think about driving, you’ll want to inform your insurance agency so that your son or daughter can be added to your current plan. This way, they will be covered throughout the experience of learning this important life skill. Make sure they are under the right car insurance plan by having them covered with our agency. To get started, give us a call and let us insure you for all of your major life moments.