Category: Insurance Tips

This means you won’t face the disappointment of underinsurance if a valuable piece goes missing or is damaged. Recent appraisals or bill of sale is usually requested to show details of item and value. Taking the time to schedule your valuables can provide peace of mind and financial security. Consult your insurance agent to ensure your prized possessions are adequately covered under your homeowners policy or give me a call and we offer stand-alone valuable  personal items policies.

Homes:

● Clear leaves from gutters

● Fireplace cleaned & serviced by a professional

● Turn off exterior spigots & remove garden hoses

● Power wash to remove moss from siding

● Insulate pipes/keep cabinets open under sinks

● Trim branches near or above home

● Locate your water cut off valve

● Seal up skirting on homes- avoid unwanted critters from living below

On the Homeowners side, the introduction of the ½ % and 1% deductibles was rolled out years ago and we may find ourselves seeing more of this trend throughout the industry. Some carry $1,000.00 for their collision deductible on the auto insurance for a $30,000 vehicle all while also carrying a deductible of $1000 for a $300,000 home. This is no longer sustainable. This is where the industry is going to shift to the 1%, meaning if your home is Insured for $300,000, you will then have a $3000 deductible. They believe this is in alignment with clients’ financial capacity.

So be aware of your deductible and remember that this will be your out of pocket cost if a claim occurred, so choose wisely for your future self!

Instead, they are just looking to just ride out the inflation that is impacting payouts on both auto & home claims. It is an especially tough time for Kia & Hyundai owners and the Companies that insure them due to the high thefts recently with those vehicles & millions of paid claims.

It’s best right now to prepare for premiums across both auto & home to be on the rise for an extended period of time. Higher claims costs to companies mean higher premiums to you. With inflation impacting most all lines of insurance, hang on tight and be sure to maximize those discounts. Joanne Winkler lives in Fairview and is the owner of ESCO Insurance Agency.

Many agents refuse to sell State Minimums. This is because if the injuries exceed the limits listed on your policy, you are then held responsible to cover the difference. This can mean personal lawsuits and/or garnishing of wages. Liability limits can range from State Minimum up to $1 million and are not a one-size-fits-all coverage. Best to always discuss with a professional to ensure you are properly covering your assets at all times.