Personal lines policies offer liability coverage limits that protect your insureds if they injure someone or damage their property. But with today’s ever-increasing jury verdicts, it’s not hard to see how a minor accident can morph into something that plows through, if you’ll excuse the pun, the $300,000 combined single limits (CSL) on your insured’s…
In a recent article we wrote on the problems of canine liability, agents asked where they could obtain a standalone canine liability policy. Our guest writer, insurance agent Debbie Turner, describes in this article some of the challenges of finding and evaluating a standalone canine liability policy.
Coinsurance may be the least mentioned yet easily explainable clause in both commercial and personal property and other policies. You will find coinsurance clauses in many types of policies. These and other policies usually contain a coinsurance clause. Business owners policy Commercial property policy Flood insurance policy Business income policy Dwelling policy Homeowners policy Health…
Approximately 4.5 million dog bites occur in the U.S. each year, according to the Centers for Disease Control and Prevention (CDC). According to DogsBite.org, from 2005 to 2017, 433 Americans died from dog attacks. Of these fatalities, 65.6% were the result of attacks by pit bulls, with Rottweilers accounting for an additional 10.4%. There’s a…
Is it time to re-visit the methodology used by agents to determine replacement costs and/or re-construction costs? How confident are you that the real property replacement values that you develop are sufficient to either replace or rebuild? If a natural catastrophe hit your community, would you have the same confidence in your replacement or rebuild…
Statistics don’t lie, and all across the internet recently we see articles about underinsured homes throughout the U.S. After a loss is a terrible time to discover your insured’s policy limits are insufficient. How can today’s agents best help their insureds adequately protect their homes, even when it means a higher premium? Here are some…
Replacement cost estimators are a tool in the property underwriting process, but they are not intended to be exact. They are an organized guess based on data that changes, at times very quickly. Agents writing either commercial property or homeowners’ coverage would do well to reivew this content.
The jaw-dropping case of a $5.2 million award against GEICO for transmission (excuse the pun) in a car of a sexual disease, human papillomavirus (HPV), is one for the books. Read our two earlier discussions, because once again, it’s a read-the-darn policy moment. The puns just keep rolling, as will this case into Federal courtland,…
With hurricane season a concern and unpredictable weather on the rise, homeowners’ losses can be devastating. After your insureds submit a claim, the insurer will request they document their damaged contents. Remind your insureds that homeowners’ claims are always much easier to settle if they prepare a home inventory before they experience a loss. Now…
Your clients may be unaware of the flooding risks they face. A free, online assessment tool pioneered by First Watch Foundation may help your policyholders better recognize their flood risks.
