Whether you received valuable collectibles or heirloom jewelry, you’ll want to insure these holiday presents. Your homeowners or renters insurance policy may provide coverage for some of your new items, but anything above the existing coverage limit requires a personal articles floater. Consider specific gifts that you’ll want to insure this year.
Jewelry: Your homeowners insurance policy should cover jewelry valued at less than $2,000. However, appraised jewelry that’s more valuable will require a floater.
Furs: From a real fur jacket to a fake fur-trimmed hat, add any furs you receive to your homeowners insurance policy.
Fine Art: Paintings, sculptures, rare books, manuscripts, ornamental collectibles, glasses and antique furniture fall under the fine art category. Record these items and their value on an itemized schedule attached to your insurance policy.
Electronics: Laptops, cameras, TVs and other electronic devices, plus telescopes, video recording equipment and films, are typically included in your existing homeowners or renters insurance policy. If these items are high-end, consider a floater.
Coins or Stamps: Depending on their value, you’ll want to add a floater for new coins or stamps in your collection.
Musical Instruments: List any musical instruments, including sound equipment, on a floater.
China, Crystal or Silverware: List these items on a schedule and include the insurance coverage amount.
Sporting Goods: Bicycles, golf equipment, guns and other sporting goods fall under your existing insurance policy unless they’re collectible, rare or expensive.
Tools: Insured under your homeowners or renters policy, your new tools won’t need a floater unless they exceed the value of your existing coverage.
As with everything in your home inventory, record a detailed description, serial number, purchase date, value and picture of your new holiday presents. Store copies of this information with your insurance policy in a fireproof safe and in a secure location other than your home.
Go ahead and enjoy your new holiday presents. Just remember to check with your insurance agent to be sure they’re covered.
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Since 1984, Monterey County has participated in the National Flood Insurance Program (NFIP). This participation, as well as the continued compliance with federal regulations, allows county residents to purchase flood insurance. Even if your business is far from any form of water such as rivers or creeks, it could still be affected by the intricate system of drainage improvements and facilities that the county maintains in an effort to protect its residents and their properties.
Federal Mandates
If you wish to relocate your business to an area that lies within the 100 year floodplain as determined by Monterey County engineers, or build within that area, federal regulations mandate that you purchase flood insurance in order to take advantage of any federally backed financial assistance for doing so. Even if you are not planning to move your business and you are happily ensconced in your current location, purchasing flood insurance is a wise business decision.
Weather Conditions Warranted Protection
Businesses that are not located within the flood plain are still at risk for being damaged due to flooding. Weather occurrences such as El Nino, for example, can cause extreme amounts of water to be dumped in areas that are ill-equipped to deal with such an onslaught of weather. Weaken structural supports like building foundations, or even elements of the property itself such as hills, can allow water to breech the boundaries of your business and cause flooding.
Industrial Accidents Pose a Concern
Water main breaks are incidences that do not occur often but the results can be devastating if you have not prepared for the possibility prior to it occurring. Not only will you need to be concerned with paying for the costs of replacing your damaged inventory and property out of your own pocket, you might struggle with losing sales from your customers during this period of time.
Flood insurance is a way to gain peace of mind that allows you to rest easier at night. Knowing that your business – and its assets – are protected in the event of an unexpected flood is a smart business move for the longevity of your company.
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The business world today is being held accountable more and more often. In many cases, this means that a business might be stripped of its traditional business insurance limits during a catastrophic event. These are events that a business owner likely never dreamed of occurring to them. It is important, though, to plan for these unexpected events.
Umbrella Insurance Provides Overarching Protection
Legal settlements can not only rattle the framework of a business, they can put it in a serious financial bind. While a business might have been diligent about ensuring that they have adequate amounts of commercial auto insurance, general liability insurance and employer’s liability insurance, they might be unpleasantly surprised to learn that it is not enough. Given the fact that insurance settlements continue to rise, a commercial umbrella insurance policy is an effective way for a business to protect itself against a large loss.
Commercial Umbrella Insurance: Protective and Affordable
Many businesses – especially small and medium sized ones – might wonder about the necessity – as well as the affordability – of such insurance. Commercial umbrella insurance is unique, though, and it is that uniqueness that makes it so affordable. During an event, such as a legal settlement, your other insurances will be tapped for payment first. This means that those insurances that are required – auto, commercial liability and employer liability – are used to their limits.
Then the Umbrella Comes Out
Once the limits of your other, mandatory insurances are reached, then your commercial umbrella insurance kicks in. While this type of insurance is optional, purchasing a policy is considered to be a good investment in the long term viability of a business. To put it in perspective, for many small and medium size businesses, just one accident, injury or mistake that is determined to be the fault of the business can completely wipe out its financial coffers if the settlement outweighs its monetary limits.
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Roughly 374,000 fires occur in homes across the U.S. each year, 54% of them occur in the winter. Protect your home and family from being a statistic when you create a fire emergency plan. It helps you stay safe as you recognize Child Safety Protection.
1. Discuss Fire Safety Tips
Obviously, you want to extinguish candles, cigarettes and other open flames immediately. You also need to supervise meal prep in the kitchen to ensure nothing catches on fire. However, did you know that fabric can be flammable when it lies near the heater? Teach your family to prevent these and other fire hazards.
2. Hang Smoke Detectors
To ensure everyone can safely escape a fire, place smoke detectors on every floor of your home where you can hear them day and night. Since smoke rises, place them on the ceiling or high on the walls.
3. Locate Fire Extinguishers
Fire extinguishers need to be accessible. Place one in the kitchen under the sink or in the pantry. Other smart locations include near the entrance and exit doors and at least one on each floor. Once they’re securely attached to the wall, ensure your adult and teen family members know how to use them.
4. Choose the Exits
Your home’s layout determines where you can safely exit. In each room, choose two door or window exits that assist your family in safely escaping a house fire. If you have a second story, store an escape ladder near the window, and make sure you know how to use it properly.
5. Designate an Outdoor Meeting Spot
Whether your family meets at a neighbor’s house or a tree across the street, designate an outdoor base camp. Call 911 from this spot after everyone safely escapes the fire.
6. Practice the Plan
Even the best fire emergency plan will be ineffective if your family members don’t know what to do when a fire starts. Test the fire alarms and teach your kids what they sound like. Then, practice escaping out of the nearest exit and meeting at your designated spot.
Your family’s fire emergency plan can keep you safe as you recognize Child Safety Protection Month. Additionally, talk to your insurance agent and ensure you have adequate home insurance for your house and possessions. Insurance won’t prevent fires, but it will give you peace of mind this month and year round.
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The holidays are 
upon us and alcohol will be flowing at company parties throughout the land. Beware! If an employee or guest gets inebriated at a social function sponsored by your business and then injures another person, you could be held liable.
Consider this scenario: After polishing off four eggnogs in an hour at the company’s Christmas party, one of your workers toddles off to his car. The employee almost makes it home when he runs a red light and T-bones a car. The car is damaged and injures the driver. The driver then sues your business for negligence in allowing the employee to drive home although he was clearly “under the influence” at the company party.
What’s more, under state and local “social host” laws, your business might face a fine or even imprisonment for continuing to serve alcohol to an adult who is legally drunk.
Under your comprehensive general liability policy is a clause for host liquor liability. The insurance company will pick up the tab for property damage and bodily injuries, up to “each occurrence” or “general aggregate” limits for the CGL. This coverage will also pay for court costs, legal fees, and other expenses – and these payments will not apply to the limits.
Be sure not to confuse host liquor liability insurance with Liquor Liability coverage, which protects businesses that manufacture, serve, or sell alcoholic beverages (such as liquor stores, bars, and taverns) against claims for injuries caused by intoxicated customers. If you’re in one of these businesses, you’ll need both types of policy.
To learn more, feel free to get in touch with our agency at any time.
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As the winter months approach, more people will find themselves driving on wet roads from the additional amount of rainfall. Unfortunately, many drivers experience rate hikes in insurance premiums as a result of minor fender-benders in the rain; however, by taking a few small steps to improve driving skills during wet roads, drivers can avoid the majority of road condition-related accidents.
Tires
Ultimately, your tires are the only real thing touching the pavement, and in so doing, they are the only thing capable of coming to a stop when you apply the brakes. Every three-months or when you have an oil change, check the tread depth of your tires. If the tread has worn away to less than one-fourth inch, you need to replace the tires. The simplest means of checking the tread depth uses a penny. Turn a penny upside-down and stick it with Lincoln’s head pointing towards the inside of the tire. If you are able to see his head, your tread is too low.
Windshield Wipers
While windshield wipers may not sound like they will prevent a terrible accident, they allow you to have clarity when driving during the rain or while the road is still wet. As the blades age, they crack, chip, and wear away. If you notice unusual streaking or a lack of removal of raindrops, you need to replace your windshield wipers. Most modern vehicles possess universal windshield wiper attachments, and you can change them in less than 5-minutes.
Headlights and Taillights
Every six-months, check the clarity of your headlights, taillights, turn signals, and any other safety lights on your vehicle. Dull lights can result in other drivers being unable to see your vehicle approaching. Furthermore, you will not be able to see the road clearly, especially during heavy rain.
Slow Down
Although making sure your tires, windshield wipers, and lights work properly, you still need to be careful with your speed when the road is wet. High speeds and wet roads result in delayed reactions to potentially hazardous situations with other drivers. Take plenty of time while driving on wet roads, and you will stay safe and keep your insurance premiums in check.
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