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 Personal property The most important thing you can do to determine the replacement values of your personal property is to create a home inventory.
Having an accurate replacement cost is critical in having the right amount of insurance.
5/30/2018 What’s Under Your Roof? 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. Damage To Your Home Can Include
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. 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. Homeowner’s Insurance Update
How many of you have actually read your homeowner’s insurance policy? We guess not too many. We do recommend that you read your policy to help you understand what coverage you have. Most homeowners are familiar with the basic coverage found their homeowner’s insurance policy; including coverage for the home itself, personal property and liability associated with owning a home. Are There Other Coverages? There is often other coverage found in your homeowner’s insurance policy that you may not know you have. Remember, each policy is different, so these coverage examples are general in nature. This “hidden” coverage may have specific limits and terms of which you need to be aware, but here are some examples of coverage found in most homeowner’s insurance policies.
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. 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. A Texas Business Insurance Update
Hurricane Harvey’s impact will be felt for the next three to five years, or even longer. Many affected businesses may not survive. It is our hope that all the people and businesses impacted by Harvey will recover as soon as possible. For those businesses that had flood insurance, the recovery will be helped through the insurance resources. There are other kinds of disasters, or losses, which can cause your business to be shut down. Now is the time to have us complete a business insurance review. We can offer many coverage and pricing options for your business. Disaster Planning for Your Business
Flood Risks Continue For Many Homeowners
There is no question Texas has been hit hard by Harvey. We are working hard to make sure all insurance claims are settles fairly and quickly. While many work to recover it is a good reminder to consider flood and wind insurance. Your homeowner’s insurance does not cover the risk from flooding. You will need to secure coverage from the National Flood Insurance Program. This program can be secured through our office. More than 60% of the flood insurance claims that the Federal Emergency Management Agency (FEMA) receives are from flood insurance policyholders who have property outside of the mapped 100-year floodplain. In case you have not noticed, flooding is occurring all over the country. In addition, other conditions can alter the flood outlook, including changing climate or the effects of El Nino or La Nina. Our community has continued risks from flooding and we want you to be informed. Many weather experts tell us that if you are in a 100-year floodplain, or live close to waterways, you actually have about a 60% chance each year of having a flood. “The price of insurance through the federal flood insurance program is based on standardized rates and depends on the home's value and whether or not it's in a floodplain. While federal flood insurance pays to rebuild the structure, it only pays current value on possessions. It doesn't cover anything in a basement (other than your heating and air-conditioning system). It doesn't cover living expenses if you have to relocate while your home is being repaired.” Don Griffin, vice president of personal lines for the Property Casualty Insurers Association of America. Quoted at www.bankrate.com Striving for High Levels of Service 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. A Personal Insurance Update
We have just witnessed hurricane Harvey, one of the worst disasters in American history. However, we have also seen some great acts of kindness to people in need during the past weeks. Unfortunately, fraud increases also during these events, taking advantage of people in need. As people are looking for help re-building, there will be those who will attempt to take advantage of the situation. If you are recovering from a disaster, here are some things to think about: Prevent Contractor Scams
Some people have already received fraudulent computer calls saying their home insurance has been cancelled and they need to make immediate payment by credit card. Also, be aware of people who say they are adjusters representing your insurance company and you need to pay your deductible now in order to have your claims covered. Call our office if you have any questions regarding your claims. Charity Scams Many scammers are out asking you to donate money to their charity. Make sure you donate to legitimate organizations. Donate money to charities you know, such as The Red Cross or your local church. As an Independent Insurance Agency we represent many insurance companies to fit your businesses dynamic needs. Whether you're a new business or a small business, we can help. Being an Independent Agent means we are not only your agent, but we are your insurance broker as well. We understand every business and industry is unique, so we will work with you to find the best business insurance coverage at the lowest rate. Contact us today for a free quote People are in Harvey recovery mode in Texas, but there will be many people trying to cheat you out of your money. We talk to people every day that have had issues with contractors regarding work performed on their homes. Many people use the internet to search for contractors and end up with trouble. While the internet is not always a bad place to search for contractors, we suggest that you recommend to your clients do a little homework before they sign any agreement.
Striving for High Levels of Service: 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. 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. A Flood Insurance Update
Winter will soon be over, and the arrival of spring rain can lead to major flooding. In the past 5 years, all 50 states have experienced floods or flash floods. Flood insurance cannot be purchased during a flood. There is a 30 day waiting period once the application is processed. Therefore, it is a good idea to start thinking about flood insurance right now. According to FloodSmart.gov, the official site of the National Flood Insurance Program, at least 25% of businesses that shut down after a flood never re-open. According to the same source, only a very small percentage of homeowners buy flood insurance. Many business owners and homeowners are under the mistaken impression that their insurance policies cover them for damages arising from floods. While your personal insurance and/or business insurance policy may cover water damage, flood coverage is excluded. Just like homeowner’s flood insurance, commercial flood coverage must be purchased separately in a dedicated policy. Flood insurance policies cover physical damage to your property and possessions. You can refer to the Summary of Coverage to help you better understand your policy and coverage. (Read More) 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. |
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