Personal Insurance Update
Personal umbrella insurance provides extra protection, or limits, above the liability insurance you currently have. Just as an umbrella protects you from heavy rain, an umbrella insurance policy protects you from losing the entirety of your wealth and assets in the event of a claim. Umbrella insurance can provide limits above your personal auto and home policies.
The cost of a personal umbrella can be as low as $175 per year for $1,000,000 worth of coverage. If you own a boat, jet sky, snowmobile, or any other kind of recreational toy, you should consider a personal umbrella policy. If you own your home or have a 401 K plan, don’t jeopardize your future by having a liability claim that could cost you everything.
Do you own a boat, a second home, or have other expensive toys? Often high net worth individuals need higher liability limits to protect personal assets. A simple rule is, that the more you own, the greater risk you may have of losing it.
Umbrella insurance provides broad insurance beyond traditional home and auto. It provides additional liability coverage above the limits of homeowner's, auto, and boat insurance policies. It can also provide coverage for claims that may be excluded by the primary policies.
You've probably heard of commercial insurance as a highly experienced business owner or manager. This coverage assists your company in dealing with potential income losses, property damage, worker's compensation issues, and possibly marketing liabilities.
Owners of Businesses
As a typical business owner, you understand the importance of having commercial insurance. There are numerous risks that your business may face, and you cannot ignore the possibility that some of them may occur to you. With commercial insurance, you will be prepared to handle any potential risk without compromising your company's survival.
Owners of Home-Based Businesses
Just because you run a home-based business does not mean you don't need commercial insurance. Regardless of the business's size, your company faces all possible risks.
Business Vehicle Owners
You need commercial auto insurance if you have a truck that makes deliveries and transports goods over long distances. In this case, your truck is your business, and as such, you must protect it at all costs in order to continue operating despite the challenges that lie ahead. Commercial insurance can assist with repairs, truck replacement, and, in some cases, compensation for damaged goods.
This Newsletter Brought to you by Waring-Ahearn Insurance Inc: Jay Duke
Global temperatures are on the rise, and extreme weather is one of the most pressing issues of our time. As the Earth’s climate changes, our insurance premiums will too. Here’s what you need to know.
Are insurance premiums going to rise because of climate change?
Global temperatures are on the rise, which is causing climate change. And with climate change comes an increased risk of natural disasters like hurricanes, earthquakes and wildfires. These disasters can cause extensive damage to property, and as a result, insurance premiums are likely to rise.
How big of a rise can we expect?
It’s difficult to say for sure, but experts believe that insurance premiums could go up by up to 50% in the next decade. This is because the risk of natural disasters is increasing as the Earth’s climate continues to change.
What can I do to protect myself?
Unfortunately, there’s not much that individuals can do to protect themselves from the effects of climate change. However, you can take steps to reduce your risk of a natural disaster happening in the first place. For example, you can make sure your home is properly insured, and you can have a disaster plan in place.
Disasters can happen anywhere in the world, so it’s important to be prepared. If you live in an area that’s prone to natural disasters, make sure you have an evacuation plan and some emergency supplies on hand. And if you do experience a natural disaster, make sure to contact your insurance company as soon as possible.
Flooding is becoming more frequent and extreme.
Flooding is a common natural disaster that can cause serious damage to property. Even a few inches of water can cause extensive damage, and many homeowners and renters insurance policies do not cover flood damage.
Homeowners and renters who want to protect themselves from potential flooding damage should consider purchasing a flood insurance policy. Flood insurance policies are available through the National Flood Insurance Program (NFIP), which is administered by the Federal Emergency Management Agency (FEMA).
The NFIP offers two types of flood insurance policies: standard and excess. Standard policies provide up to $250,000 in coverage for building damage and $100,000 in coverage for personal property. Excess policies provide up to $500,000 in coverage for building damage and $500,000 in coverage for personal property.
Flood insurance policies are not available in all areas. Homeowners and renters who want to purchase a policy should contact our office to see if coverage is available in your area and what the cost might be
In general, the higher your risk of flooding, and the coverage you need, the higher your flood insurance premiums will be. However, there are a number of ways to reduce your premiums, including raising your deductible and taking steps to reduce your risk of flooding. Please call our office at 301-475-5541 for more information.
Many people are unsure what an umbrella policy is or what it covers. We will explain the basics of Umbrella Insurance and the benefits to you. When you are outside and there is a light rain or breeze you generally don’t need or want an umbrella. However, if it is pouring down rain with high winds, you take your umbrella. An Umbrella Insurance policy works much the same way.
Umbrella Insurance provides extra protection or limits above the liability insurance you currently have. Just as an umbrella protects you from heavy rain, an Umbrella Insurance policy protects you from losing the entirety of your wealth and assets in the event of a claim. Umbrella Insurance can provide limits above your personal auto and home policies. Umbrella insurance is also competitively priced.
Protect what matters most to you with Leonardtown, MD Car, Home, Health, Life & Business insurance. We offer the best combination of competitive rates, coverage and personal service in Leonardtown.
Here is an example: John Doe falls asleep while driving and hits a van with a family inside. The accident results in $600,000 of medical bills, but John Doe's auto policy has a $500,000 limit. Fortunately, John Doe also has a $500,000 umbrella policy, and the additional $100,000 would be covered under the Umbrella.
It is true that Umbrella Insurance may not be for everyone, but if you are building financial resources for your future, are a professional, own your home, boat or recreation vehicle, you should consider an Umbrella Insurance policy.
These Cool Tips Brought To You By Waring-Ahearn Insurance Inc: Jay Duke
Summertime can be a lot of fun, but it’s important to remember to take precautions when it comes to your pets. Make sure to keep them hydrated and cool, and never leave them in a car unattended. By following these tips, you can help ensure that your pet has a safe and enjoyable summer.
* Make sure they have access to plenty of water.
* Create a shady spot for them to relax in.
* Place ice cubes in their water dish.
* Run a fan near them.
* Place a frozen bottle of water on the floor for them to play with.
* Give them frozen treats or frozen bones.
* Take them for walks or play with them in the yard in the early morning or evening when it's cooler.
* Buy a pet cooling mat.
* Watch for signs of heatstroke in pets, which can include excessive panting, drooling, vomiting, and loss of coordination. If you think your pet may be suffering from heatstroke, call your veterinarian immediately.