Homeowners need to be aware of their home’s replacement cost, as this value is what will determine any claim settlement. Replacement cost is the actual cost to replace any personal property or structure to its pre-loss condition. Replacement cost can change from year to year, regardless of real estate trends.

How To Determine Your Replacement Cost
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Personal property
The most important thing you can do to determine the replacement values of your personal property is to create a home inventory.

• Create a digital record of every room. While you are videoing, describe each item and identify a replacement cost.
• It may be useful to categorize clothing. For example, 10 pairs of men’s pants, 12 tee-shirts, 6 pairs of Nike shoes, etc.
• Make sure you focus on high end items like jewelry, guns, computers and art work.
• If you have expensive art, guns or collections, it would be good to have it appraised.
• Update the inventory from time to time.
• Keep the inventory in a safe or at a secondary location.

Your Home
Having an accurate replacement cost is critical in having the right amount of insurance.

• Get an estimate or appraisal of the replacement cost of your home.
• Talk to a new home builder in your area.
• Determine the square foot construction cost (new) in your area and multiply by your home’s square footage.
• Your insurance agent will have resources for you.

What Is Insurance Designed to Do?
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Most people who buy insurance do not fully understand their coverage until they have a claim.  Once you have a claim, it is impossible to make any changes.  Insurance is designed to protect you from unforeseen events or accidents. Insurance is not intended to cover every accident or loss.

These are the apparent exclusions in every policy:

• Intentional acts
• Flood
• Earthquake
• Arson by insured
• Riot or civil unrest
• Governmental Actions
• Landslides

Typical exclusions of which you might not be aware:

• Operating a business out of your home
• Renting out your house on Airbnb
• Certain dog breeds
• Trampolines – may have coverage with restrictions
• Sewer backups

Insurance is something we know and understand.  We can help you understand how insurance can help you protect your assets.  We offer many different kinds of insurance products and have a professional staff that is ready to serve you

Many think that operating a small business has little or no risk. The fact is, operating a small business has just about the same risks as any other business.  Employees can still sue you, you can cause injuries to your customers, and your building can burn just like a big business.  General liability risk is very real for small businesses and it is important to have a business insurance program that addresses these issues.
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To protect a small business from potential lawsuits, liability insurance is necessary. Policies vary greatly, and they cover different classifications of risks for varying costs.
Commercial General Liability Insurance covers claims from accidents, injuries, or negligence when the business is at fault.  Small businesses may face a wide array of damage charges. Personal injuries, property damage, libel, and slander are just a few examples.

Product Liability Insurance covers legal fees for litigation involving a faulty product.  It also covers any personal or property damage charges caused by the defective product.
Employment Liability Insurance provides protection for an employer against claims made by employees, former employees, or potential employees.  It can cover discrimination (age, sex, race, disability, etc.), wrongful termination of employment, sexual harassment, and other employment-related allegations.

Professional Liability Insurance pays for damages caused by services.  It is also called errors and omissions coverage. This is for companies that market a service instead of a product. For example, professionals in medical clinics must have medical malpractice coverage.

Cyber Liability Insurance covers the risk posed by conducting business over the Internet, over other networks, or using electronic storage technology.  It covers third party losses from hackers, theft, and loss of information including sensitive client or individual personal information.

There are other types of insurance designed for specialty businesses. For example, there are special policies for companies involved only in internet sales.  The nature of the business determines what type of coverage is necessary.

Most business owners buy commercial insurance to cover fire, theft, and certain liability risks.  However, did you know there are many unique insurance products that can also protect your business?  Your business insurance should be able to respond to almost all the activities in which you are involved, but if you are not properly insured, it may not.  Therefore, we thought we would explain several business coverage’s you may not have considered.

Unique Kinds of Business Insurance

Political Risk Insurance--The world is becoming a very dangerous place, so there is coverage for business owners and executives who travel to foreign countries.  Kidnap and ransom coverage can protect your executives in case of an unforeseen event.
Giving Advice--Do you or your employees give advice to your customers?  If so, you may need Professional Liability Insurance.
Foreign Liability--If you export products to a foreign county, your business is at risk of a product liability claim if the products cause an injury or loss.
Loss of Value--If you rely on your voice or other talent to produce income, you can buy insurance to cover yourself in the event you are unable to perform.
Environmental--Environmental insurance is there to protect humans and physical assets from the effects of pollution exposure, so you can carry on running your business without worrying about major oil spills or other catastrophic events.
Chicken insurance--Many people insure their pets, but you can also buy coverage to insure your chickens or other animals.
Tax opinion insurance--Acquisitions, reorganizations, mergers, or other changes of ownership can present complicated tax problems.  Tax insurance protects the business in the event the transaction produces a larger than expected tax liability. 

Strive Insurance Group, Inc. is a full-service independent insurance agency that has been serving the insurance needs of the Dallas area since 1984 (formerly Gordon Lund Insurance). Don't worry, nothing has changed, but our name. In addition to having a presence in the Dallas and North Texas area, we have also expanded to Austin and Central Texas with agent representation and the same professional service.

We represent, and have established a strategic alliance, with only the highest quality insurance carriers. In doing so, we can provide you with the service and protection to meet your dynamic needs. As your needs change, we can review and collaborate to decide which insurance company or companies are best suited to your situation.

More rental cars will be rented between June and September than any other time of the year. When you get to the car rental desk, you are asked the question, “Do you want the insurance?” Too many travelers do not know if they need additional coverage or not, and buying the rental car insurance can add hundreds of dollars to your bill. Auto insurance policies differ, but the most important thing is to make sure that you are covered.  

Collison Damage Waiver

When you are determining whether to purchase a damage waiver, there are two key considerations: (1) whether you are already covered by existing insurance and, if not, (2) if the benefit of having a damage waiver is worth the cost. The CDW is sold by the rental car company and only applies to rented vehicles. This limits the rental car company from attempting to collect (from you) for any damage to the rented vehicle

We recommend that you call our office to verify that you have the correct coverage.
Rental Car Insurance

1. Always check your current auto insurance policy before you rent a car, to see what coverage you may already have that extends to a rental car.
2. If you carry comprehensive and liability coverage on your personal car, coverage will extend to your rental car. Usually, if you’re renting a car of similar value to your personal car, in all likelihood the insurance coverage will be adequate for the rental.
3. If you're not currently insured with an auto policy, you'll need to at least buy coverage from the rental company before you hit the road.
4. Auto liability limit requirement may vary from state to state; if you buy minimum limits of coverage you may not have enough coverage in the state in which you rent your vehicle.
5. If you are only insured under a commercial auto policy, you will want to purchase the extra coverage.
6. If you are driving abroad (apart from Canada), your current car insurance won't cover you.
7. Some major credit cards also offer rental car insurance options and solutions.
8. If you want to protect your personal auto insurance policy from further claims, then buying the extra coverage may make sense. 

​​We believe in giving back to our local community and supporting our local non-profit businesses that make other people’s lives better.  Our agency and employees try to give back to these communities whether it be the local YMCA or helping raise funds for bikes for underprivileged children. We like to feature the efforts of our clients and what they do in the community as well by sharing their stories in our monthly newsletter.  If you have a story about your favorite charity, we’d love to feature it in a future edition! Contact us at the office to get started.

Cyber Liability continues to be a major issue for businesses in 2018. In today’s data-driven social media world, businesses of all sizes have had a cyber-attack or data breach. Statistics show 39% of all cyber incidents affect businesses with fewer than 100 employees. With the recent breaches in the financial and hospital industries, many businesses are considering cyber insurance.

Emerging Cyber Trends

• With more companies beginning to store information on the “cloud” there will be more universal breaches causing greater losses.
• Cyber Liability insurance is a real option providing value added coverage and services.
• Industries most exposed are; healthcare, medical, retail, financial institutions, technology and hospitality,
• Cyber recovery costs are rising, even with new technology.
• Individual states will be beefing up mandatory reporting laws and imposing fines for lack of reporting.
• New technologies will allow cyber-attacks to come through smart phones and tablets.
• Small businesses may be the most prone, as they have the least protection.

Cyber liability coverage (for data breaches) has evolved from just insurance for information technology companies to coverage that nearly every kind of business should have - if they don't already. From retailers, banks, contractors, distributors, restaurants and medical offices, many businesses are unaware of the severe data breach exposure they face. In short, any business not making an effort to protect personal private information is seriously out of step with the emerging landscape of privacy law. We can provide your firm with the right combination of pricing and coverage.

Strive Insurance Group, Inc. is a full-service independent insurance agency that has been serving the insurance needs of the Dallas area since 1984 (formerly Gordon Lund Insurance). Don't worry, nothing has changed, but our name. In addition to having a presence in the Dallas and North Texas area, we have also expanded to Austin and Central Texas with agent representation and the same professional service.

We all want our family vacations to go perfectly, but even with the best intentions, things can happen.  Ticket mishaps, delays, schedule changes, auto accidents, and more can cause your vacation to be ruined. Your personal insurance program can be expanded to include travel and accident insurance. Call our office for a free review.

Vacation Pre-Planning
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A little work in advance can help reduce the likelihood of bad things happening on your vacation.  Here are some things to consider before you leave home:

• Make sure all your insurance is paid and up to date.  Having your auto insurance lapse due to non-payment would not be a good thing while you are driving to Disneyworld.
• Do not take all your credit cards with you.  Take only the ones you will need.
• Create an itinerary of where you are planning to be and on what date. Give this to a neighbor or relative.
• Make copies of passports if traveling out of the country. Give a copy to a relative or friend.
• Never wear anything that projects affluence (i.e. gold chains, expensive watches, rings, high-end luggage, or other paraphernalia).  It is best to leave your expensive jewelry at home.
• Never put your home address on your luggage tags. Write your phone number instead.
• Wait until you get home to post your vacation pictures on social media. Facebook is a goldmine for burglars.
• Always lock your car, and never leave anything of value inside.
• Do not use wireless networks in cafes or coffee shops.
• Be aware of animals.  In some foreign countries, people will place a monkey on your shoulder and make you to pay to get it off!
• You will need special auto insurance if you plan to drive into Mexico.
• Separate your money so your spouse has a portion and you keep a portion.
• Do you really want your first motorcycle ride to be in Mexico? Do not rent equipment or vehicles with which you are not familiar.

 
We offer commercial and personal insurance to ensure that you are protected from catastrophe.  Our staff is dedicated to providing all of our clients with complete coverage at the best rates our companies can offer.  Our years of experience and education allow us to guide our clients in making well-informed decisions regarding their insurance needs.
 
 

Many businesses today offer college students the opportunity to hold a summer intern position. These can be rewarding for the college student as well as provide some help to the business. Offering paid or non-paid internships can create risk for your business. We wanted to highlight some of the business risks associated with having interns. Before you bring that person on board, make sure your business is well prepared.

• You should have a written plan. It should include a job description, hours, and line of authority.
• Check to see if there are any state regulations that might be impacted.
• If you offer a paid internship, you will need to treat the intern like any other employee. We suggest having a formal agreement indemnifying the terms of the agreement, including the time period of the internship.​
• If the internship is a paid position, don’t forget about workers’ compensation.
• Make sure you comply with Healthcare Reform relating to employee benefits.
• Make sure the intern understands they are not entitled to “regular” company benefits, i.e.  retirement, insurance, vacation, etc.
• The internship must provide similar training that would be given in an educational environment.
• There must be a “true” benefit for the intern.
• The internship cannot be for the sole benefit of the company.
• The intern must not replace regular employees, and should work under the close supervision of existing staff.
• Unpaid internships for for-profit companies are subject to the U.S. Department of Labor’s Fair Labor Standards Act. There are provisions if you offer educational credit. Here is a link to the U.S. Department of Labor.

We recommend you check with the department of labor to make sure your program meets all of the requirements. There have been many businesses who have been sued as a result of improper internship programs. 
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​We believe in supporting local businesses and being involved in the community. Whether it’s raising money for bikes for special needs children or delivering meals for Meals & Wheels, we understand that helping out within the community is going to make the community a better place for all of us to enjoy. 
Dallas Area Location 
972.238.8174  
​Austin Area Location
512.582.2424   

A Business Insurance Update
If you are in the business of designing, manufacturing, servicing, selling, and distributing any product there are risks involved. When the product you represent causes injury or damage to a another person or business, you need insurance protection. Depending on the insurance coverage you have, you may not be adequately protected from a product liability claim arising out of your actions. Many “standard” insurance policies have limitations for product liability claims. For example, a contractor installed windows in a custom home, and 9 months later the windows leaked, causing thousands of dollars of damage. The window manufacturer said their windows are fine; it was the installation that was done incorrectly. The contractor may be held responsible for the damage. Product liability insurance would provide protection in this case.

Our experienced and licensed staff will work with you to help find the right commercial insurance and solutions for your business. Our team can work with most business; we know and understand your industry.

What is product liability insurance?
Product liability insurance can provide protection from damages, injury, claims, and other liability arising out of the selling, distributing, manufacturing, servicing and design of products. Damages can include bodily injury, property damage, and even death.

An essential feature of product liability insurance is the legal defense coverage. The cost to defend an allegation can create a strain on your firm’s resources.
Claims can come from any of the following:

• Poor workmanship
• Breach of warranty
• Failure to warn
• A defect in design or manufacturing
• Material defect
• Failure to provide adequate instructions

Classes of businesses we work with:

• Contractors
• Artisan Contractors
• Manufacturing
• Restaurants
• Distributors
• Food Processors
• Wood Products
• Automotive
• Sporting Goods
• And More

We have a number of highly rated insurance companies to select from. Call us today for more information. 

Striving for High Levels of Service:
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As our name implies, we strive to make your insurance experience positive. We understand you have many options when it comes to getting insurance, so we are going to strive to give you first class customer service you deserve.

 A Home Insurance Review
Have you ever stopped to think about all the things that could cause damage to your home and personal property? Probably not, but we think about your personal insurance coverage every day. Your homeowner’s insurance is designed to protect you from claims that can come from many different events. We can design a homeowner’s insurance product that fits your individual needs. Here are a few of the kinds of events that can be covered under your roof.
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Damage To Your Home Can Include

• Fire and smoke damage
• Lightning strikes
• Falling objects
• Explosion
• Vandalism and malicious mischief
• Theft
• Windstorms and hail
• The weight of ice, snow or sleet
• Water damage
• Damage from an aircraft, car or vehicle

What is Not Covered Under Your Roof
A standard homeowner’s insurance policy will not cover; earthquake, flood, wear and tear, damage from animals, mold, acts of war, government actions, tenant damage, defective work, plus others.

Personal Property
Your homeowner’s insurance can also cover your personal belongings. This might include; clothes, furniture, and other items.

Do You Have A Leak In Your Roof?
Do you have coverage for additional living expenses if you are required to move out of your home while it is being repaired? If you own guns, art, or other collections, you may need additional coverage. Is your expensive jewelry covered while away from your home? If you don’t know the answers to these questions, call us today.

If you have the right kind of homeowners insurance, a loss like this should be covered.  However, we always recommend you call our team to have a review of your personal insurance program.
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As our name implies, we strive to make your insurance experience positive. We understand you have many options when it comes to getting personal insurance, so we are going to strive to give you first class customer service you deserve.