insurance
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When you purchase homeowners or renters insurance, one of the most important details to understand is how your belongings and property are valued at the time of a loss. Two common valuation methods used by insurance companies are Replacement Cost and Actual Cash Value (ACV). While they may sound similar, the difference between them can greatly affect how much you receive after filing a claim.
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In last week's blog post, we explored three foundational types of insurance for small businesses: General Liability Insurance, Business Owner's Policy (BOP), and Professional Liability Insurance. This week, we'll expand on that foundation by discussing additional types of coverage that are crucial for more specific business needs. Today, we'll focus on Commercial Auto Insurance, Business Property Insurance, and Umbrella Insurance.
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As a small business owner, protecting your investment is critical. Small business insurance can serve as a safeguard against a wide range of risks that could jeopardize your success. Today, we'll explore three essential types of insurance that every small business should consider: General Liability Insurance, Business Owner's Policy (BOP), and Professional Liability Insurance. These coverages form the foundation of protection for most small businesses.
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When it's time to store your boat for the winter, sit down with a member of the marina's staff and discuss what you can expect to have done. Most marinas are prepared to service your boat efficiently, but you are responsible for seeing that all work is done. Ask that they call you when the winterizing is complete.
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Dear Valued Client:
A 5-Step Checklist for Financial Health in 2017
Tips for Parents To Help Prevent Teen Car Crashes
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Some states mandate comprehensive liability, which covers bodily injury and property damage.
May is Motorcycle Safety Awareness Month, designed to encourage all drivers and motorcyclists to share the road with each other. Increased awareness of motorcycle safety has helped improve the number of injuries and fatalities of motorcyclists.
Your vehicle may have come with a jack, but I recommend purchasing a higher quality set." recommend a quality jack and jack stands instead of the jacks that may be found in your vehicle. These higher-quality jacks and jack stands tend to be more sturdy and safer to use.
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While you are away this holiday season, use these tips to keep your home safe!
A Charlotte, NC man having purchased a box of very rare, very
expensive cigars, insured them against fire among other things.
Within a month, having smoked his entire stockpile of cigars and
without having made even his first premium payment on the policy, the
man filed a claim against the insurance company.
In his claim, the man stated the cigars were lost "in series of small
fires".
The insurance company refused to pay, citing the obvious reason; that
the man had consumed the cigars in the normal fashion.
The man sued......and won! In delivering the ruling, the judge agreed
that the claim was frivolous.
He stated nevertheless that the man held a policy from the company in
which it had warranted that the cigars were insurable and also
guaranteed that it would insure against fire, without defining what
is considered to be, "unacceptable fire," and was obligated to pay
the claim.
Rather than endure a lengthy and costly appeal process, the insurance
company accepted the ruling and paid the man $15,000.00 for the rare
cigars he had lost in the "fires".
HERE COMES THE BEST PART!!
After the man cashed the check, the insurance company had him
arrested on 24 counts of ARSON!!
With his own insurance claim and testimony from the previous case
being used against him, the man was convicted of intentionally
burning his insured property and sentenced to 24 months in jail and a
$24,000.00 fine.