Gaps in Your Policy Coverage Can Leave You Exposed

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You may have auto insurance and home or renter’s insurance in place to make sure you are covered in case of an accident. But, depending on the circumstances of a claim, you may have coverage gaps in your insurance, and policyholders that do put themselves, their family and their possessions at risk. You should review your policies to see if you have any of the following gaps in your coverage: Coverage for your valuables This would include: • Any collections (coins, stamps, art, etc.) • Pricey jewelry or watches • Electronics. Most homeowner’s policies will typically have a set limit…
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As Disasters Increase in Scope and Cost, Revisit Your Homeowner’s Coverage

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In 2017, the U.S. experienced one of the most disaster-filled years in history, with tens of thousands of people losing their homes and countless others temporarily displaced. The insurance industry is expecting the trend to continue, based on climate forecasts and the history of natural disasters and their costs over the past 10 years. The 2017 hurricane season was the costliest in the history of the U.S., resulting in countless windstorm and flood-damage claims from homeowners and businesses in affected parts of the country. The number and size of tornadoes has also been on the upswing. The tornado season in…
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This New Year Resolve to Review Your Insurance

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While you may have made some good New Year’s resolutions, to make sure that you are not leaving anything to chance you should also revisit your insurance policies. You may have acquired new property, upgraded your home or bought new stuff for your house and, considering the increasing risks of natural catastrophes, you may now have more risk than you’re aware of. By taking a little time, you can ensure you’re adequately protected and that you won’t have any unpleasant surprises if you have to file an insurance claim. We recommend you do the following: Talk to us Call us…
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Earthquake Risk Requires Smart Planning and Insurance

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Life in most of parts of California comes with the inherent risk that an earthquake can strike suddenly and without warning. You probably didn’t know that the state has more than 10,000 seismic events every year, but fortunately most of them are too small for people to even notice. Although the entire Northwest of the United States is at high risk of earthquakes, nine of the most costly quakes in the last century occurred in California. According to the U.S. Geological Survey, there is a 70% probability that an earthquake of magnitude 6.7 or larger will strike the San Francisco Bay…
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Record Rain Forecast from El Nino; Is Your Business Covered?

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With forecasters predicting significant rainfall thanks to the El Nino weather phenomenon, you could be putting your business at risk if you are not properly insured. The average commercial flood claim is $89,000, according to the National Flood Insurance Program. And 25% of businesses that shut down after events such as floods never reopen. You might be thinking that you might qualify for federal disaster assistance. But most federal aid comes as a loan – not an outright grant. A $50,000 loan at 4% interest would result in an annual payback of $2,880 – over 30 years. Damage from flooding,…
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Preparing Your Commercial Building for El Nino

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Forecasters are predicting one of the most intense El Nino weather patterns for this upcoming winter, and heavy rains are expected in large swaths of the West Coast. The roof is your commercial building’s first line of defense from the elements, including heavy rain and extreme heat. It is also the most vulnerable part of your building. To make sure it can handle this year’s rains, you should have in place a regular program of inspection, maintenance and repair. These activities should be part of your planning in order to prolong the useful life of your roof and make sure…
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Flood Insurance Is Wise Choice, Even in Drought Areas

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The recent flooding in Texas has hit local businesses hard as they try to recover, costing them money for the clean-up process and lost business. Few of the businesses in the up-until-now drought-stricken area carried flood insurance according to local news reports, and they’ll end up footing the bill themselves. The flooding in Texas shows that it can happen anywhere, and that some areas in most states are prone to flooding, including California. But there is a stark reality with every flood: 40% of businesses affected by a natural or human-caused disaster never reopen. By preparing your company now for…
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