There are a number of common mistakes some individuals and businesses make when it comes to purchasing insurance. Insurance is the product you buy in case the unexpected happens. Unfortunately, by the time you need it, it's too late to make sure you have the right type and amount of insurance coverage. Make sure you don't make the following mistakes while buying business insurance or personal insurance.

​Having two agents is better because they keep each other competitive
Having two agents duplicates effort and can create coverage gaps. For example, there are certain coverage’s that can be included under a liability policy and auto policy. One agent is better able to manage your entire insurance program.

The lower the premium the better
Premiums are determined by a combination of exposures and coverage. If you get a lower premium you may be missing needed coverage. For example, does the lower premium include replacement cost coverage on buildings and equipment?

The internet is a great place to get good insurance deals
Low-cost internet insurance usually allows you to select the coverage and limits you want. But in most cases, you end up with a limited and inadequate program. You find this out after you have an uninsured claim.

Not having the right value for your personal property
Most people undervalue their personal belongings. We recommend you complete a home inventory to make sure you have the correct value on all your property. Remember, the insurance covers what it costs to replace the item, not what you paid for it.

Believing the TV commercial said it was covered
All claims are subject to your individual policy terms and conditions. That is why an independent agent is important. We can provide information about what is covered and what is not.
As an independent agent, we have relationships with many A-rated national and regional insurance companies; we provide a comprehensive array of insurance products for a variety of personal and commercial clients.
 

Included in most homeowners, condo-owners, and renters insurance policies is coverage for the contents of your home.  However, do you know how much coverage you would need if you had to replace everything in your house?  Would you know what you had in each room of your home in the event of a claim?  Would you be able to remember every item you have accumulated over the years if they were all gone?  Recent survey results show 65 percent of homeowners have not made a list or inventory of their possessions. 

Creating and updating an inventory of your personal possessions is one of the best ways to make the most of your homeowners or renters insurance, and it makes filing a claim easier and more efficient.  If your home is damaged or totally lost due to a fire or other event, having a home inventory will help you recover all your personal property with the least amount of time and stress.

Creating a personal home inventory helps in calculating how much your personal property is worth.  Knowing this ensures that you have an accurate value to insure.  If you have too little coverage, you would not have enough funds to replace lost property, and if you have too much coverage, you are paying higher premiums than you need to pay.

How to Create a Home Inventory
 
Creating a home inventory is actually simple these days thanks to technology.  Here are a few tips.

• 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 or other items, 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. It can even be stored in the cloud.

 ​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.

As our country continues to manage through the COVID-19 crises, we thought it might be useful to take some time to remind you of the importance of your personal insurance during this time.  The coronavirus pandemic won’t affect your auto or homeowner’s insurance too much, but there are a few coverages that could be impacted because of the temporary lifestyle change.

• Do not cancel your auto insurance just because you are temporarily not driving.  Auto insurance is required by law.  If you are looking for ways to save money on your auto insurance, give us a call.
• If you are working remotely via computer, there should be no issues with your homeowners or renter’s insurance.  However, this is true as long as there are no customers coming to your home.  If you are running a business from your home, you will need business insurance.  We are happy to help you with this. 
• If you have a claim, we are open, as are the insurers.  Give us a call, and we will be ready to help you. Your policy has toll-free claim numbers to help you get the process going.
• Many insurance companies are offering relaxed payment terms.  We suggest you contact them directly if you feel you may miss a payment. Of course, you can always contact our office to assist you.
• Be aware of credit card and cyber scams. Unfortunately, criminals have ramped up their efforts during this crisis.  The fraud ranges from false claims of cures and treatments for the coronavirus to fake charities attempting to soliciting money to help those suffering.
• As we all have so much time at home, now is a good time to complete a home inventory of your personal property.  Creating and updating an inventory of your personal possessions is one of the best ways to make the most of your homeowners or renters insurance, and it makes filing a claim easier and more efficient.  If your home is damaged or totally lost due to a fire or other event, having a home inventory will help you recover all your personal property with the least amount of time and stress.
• Life insurance should not be affected because of COVID-19.  If you already have life insurance, you are covered, and a company cannot make changes to a policy that is already active.  If you do not currently have coverage, however, your application may be affected.  Keep in mind that each life insurance company is handling the pandemic differently.  It is important to have us shop your life insurance to make sure the company you choose meets your needs.

 
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.