It’s important for your insurance policy to reflect changes in autos, their usage and drivers so you have the appropriate protection for everyone.
Knowing about all of your property ownership exposures is an important part of protecting you from financial loss. Changes in ownership may affect the coverage that you currently have or need, as well as, how coverage will respond in the event of a lawsuit.
Changes in the use of your home, addition or removal of items, heating sources, renovations, recreational vehicles and toys, etc. are all important factors in making sure your home coverages are correct and being rated properly.
Please let us know if you are renting out your home. Many insurance companies have eligibility rules on how liability coverage will respond, as well as the protection extended for theft or vandalism.
Renovations or adding square footage can impact the cost to rebuild or repair your home in the event of loss. If you’ve invested money in your basement, your policy may need an additional endorsement in the event of water backing up in your home.
Eligibility rules apply for supplemental heating sources such as wood stoves, corn burners or pellet stoves in your home as well as in outbuildings. Please be sure to disclose if you have these so the proper coverage is in place.
Adding a whole house generator affects the replacement cost of your home. In addition, some carriers will offer a discount if you have proper documentation showing proof of this system.
These need to be disclosed so that your policy (Home and Personal Umbrella) can respond appropriately should a claim or lawsuit arise. With proper documentation, alarm systems and protective devices could provide a credit on your policy.
Your home policy has limited coverage for these items. By scheduling them individually, you will have additional protection, broader coverage with minimal deductibles.
Changes to household members is very important for us to know so that we can assure you all have the proper protection for your belonging as well as in the event of a lawsuit. Though coverage typically extends to a spouse, child and/or resident relative, it is not always automatic and needs to be discussed further.
Coverage is not always automatic for certain household members. Are they related to you? Are you engaged? Please discuss any new members of your household with us so we can ensure you all have the proper coverage.
Household resident relatives would have coverage for their personal property under your home, however, if not related, those individuals need their own protection.
Household resident relatives would have coverage under your auto policy if listed as a driver, however, if not related or if they decide to move out, that individual needs to show and/or obtain proof of insurance.
Insurance companies have eligibility guidelines when it comes to having hired help (living in or out of your home). You will want to understand who can be found liable and how your policy will respond should a loss occur on your premise.
Our agency not only wants to protect your home, auto and personal liability in the event of a loss, but the financial well being of your family.
D=Debt, I= Income, M=Mortgage, E=Education. By using this method, it will give you an idea of how much life insurance protection is needed to take care of your loved ones if a death in the family occurs.
It is always good to evaluate your assets periodically, life is moving at a fast pace! We can help you review your current policy to make sure it offers the protection your family needs.
Our Rummel Wealth Management Division can help you determine what’s best for your family’s bright financial future.
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