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Homeowner’s insurance is directly linked to the value of your home, and the only way to be confident you have the coverage you need is to be transparent about improvements you’ve made to your property over time. Here’s what to consider before, during, and after a home renovation so you’re covered for during construction and the improvements are protected when you’re done. 

Be clear about which renovations will raise or lower your insurance rates. 

Financial preparation includes not just acknowledging the cost of materials and labor but also acknowledging the fluctuation of your insurance policies to come. An addition, for example, will add square footage and value, which means your home will be more expensive to rebuild, so your premiums will rise. If you’re renovating your garage into a den and kicking your car to the curb, keep in mind the cost of your car insurance may jump a bit since it’s simply riskier to park on the street. In contrast, replacing an outdated HVAC system lowers the risk of an electrical problem, and lower risk typically means lower rates. The same goes for adding a fence around a swimming pool or backyard. 

Before you finalize renovation plans, watch for ways to achieve discounts. 

You may qualify for lower premiums if you add a sprinkler system, update your plumbing or electrical system, add storm shutters, or even simply install stronger doors than you had before. New safety features will lessen your odds of filing a claim in the future, and many insurance plans will acknowledge that with reduced rates. 

Don’t DIY if you’re not qualified to do the work safely. 

Besides the potential to be disappointed in your own craftsmanship, the real risk is potential injury. If friends and family will be on site to help with the project, consider increasing your home insurance’s no-fault medical protection. This will allow an injured assistant to send doctor’s bills straight to your insurance company, which ultimately lowers your chance of a lawsuit. 

Plan for mid-project problems.  

Insurance Journal reported in 2014 that approximately one out of every three house fires can be traced back to contracting professionals working on site. Heat guns used for paint stripping or electrical sockets overwhelmed by power tools can mean disaster. Construction risk can also expand to plumbing pipes cracking under the stress of vibrations being caused by construction. You will want to discuss these potential scenarios with your insurance agent before renovations begin–and then again mid-project as plans evolve–to make sure you understand which party would be liable for each scenario and whether you and your contractor are insured properly to avoid a major financial strain. 

Ask your insurance agent about weather and theft. 

Large renovations are sometimes stalled by acts of nature, sometimes stalled by disappearing acts. If your project is big enough that parts of your home will be covered by a tarp or exposed to the elements, consider a “course of construction policy,” also known as a builder’s risk policy. This will offer protection if you find your home seriously damaged during construction and extends as far as vandalism and theft of construction materials you purchased yourself (think carpet, hardwood, or tile). 

Be careful about gaps in coverage if you’ll be temporarily moving out. 

According to the International Risk Management Institute, homeowner’s policies are really written for homes being occupied by the homeowner. If your renovation is so extensive that you’ll be leaving the premises–or if your construction will cost 10 percent or more of your home’s total replacement value–read your insurance contract carefully. These benchmarks label your project as a “major renovation,” which may limit your coverage or require you to notify the insurance company before construction begins. If you don’t follow the policy’s requirements specifically, you may find that damage during renovations is only covered at replacement cost less depreciation, rather than replacement cost alone. Your best choices in a major renovation may be to add a renovation policy to your existing coverage or add a builder’s risk policy. 

Celebrate the added value to your home. 

Once you’ve planned well, relax and enjoy the process. Ultimately, you’re adding beauty, functionality, and value. As you take photos to share with family and friends, made copies for your insurance files, as it is likely that you will also need to update your catalog of valuable items inside your home as well, especially if you purchased furniture or art. 

Debt happens. When it comes to pursuing a post-secondary education, loans can be an important means to an end. But before you choose between federal and private loans (or choose a combination of the two), you need to understand the difference and the long-term effect each can have on you and your family’s future. This includes knowing whether it means leaving loved ones in debt should you face a personal tragedy. 

Federal student loans are funded by the federal government. On a federal student loan, the terms and conditions for repayment are based on the law. As a student, you don’t have to start paying on the loan until you graduate, unenroll, or drop your hours to less than half-time. You may also qualify for a subsidized loan if you need the government to take care of the interest on your loan while you are still in school, provided you enrolled in enough credit hours. Federal student loans offer protection for your family after your death. If you pass away, your loan will be “discharged,” meaning dismissed, once proof of death is submitted to the company that handles the billing on your loan (also known as a loan servicer). FORBES magazine warned last summer, however, that not all federal student loans are dissolved so quickly. A PLUS loan taken out by parents, even if forgiven, can still have parents on the hook for paying income taxes on the forgiven loan.

Private student loans are made by a lender, which may include a credit union, a bank, a state agency, or a school. The Office of the U.S. Department of Education clarifies that on a private loan, these terms and conditions are set by the lender and may or may not require you to make payments while still enrolled in school. The interest rate may be fixed or variable and may include a penalty for paying the loan off early. Note that a private student loan is intended only for education; it is not the same as a personal loan, which can be used for home projects or weddings. A private personal loan may include language that excludes the use of the funds for post-secondary education. It is important to note that while private student loans may come with a death and disability policy, the lender may still try to collect from your estate and/or co-signers. Some states are community property states, which means a spouse can be on the hook for student loan debt after your death even if he or she didn’t co-sign on it. The answer to this conundrum is often a term life insurance policy that will cover student loan debt in the event of your death. 

Depending on your job, you may need to do a lot of driving at night. Or perhaps you like to leave in the wee hours to go on family vacation, so you can arrive at a decent time the next day. Some drivers do prefer night driving because the roads are more open. Even so, night driving comes with a lot of setbacks and risks you need to be aware of. With the vision impairments and accidents associated with night driving, drivers should take the following night driving tips into consideration. 

Avoid Overdriving Your Vehicle’s Headlights 

The term “overdriving” refers to when you’re driving so fast that your stopping time is farther than you can see with your headlights. This is dangerous, especially if there are large vehicles like semi-trucks on the road. Make sure that your vehicle’s headlights are clean and have functioning bulbs so their beam of light shines as far as it can. Also, learn your approximate stopping time in relation to how far your lights illuminate in order to avoid overdriving and risking crashing into anything ahead of you.  

Don’t Look Directly at Other Sources of Light 

Oncoming headlights and other bright light sources can end up temporarily blinding you to the road and what’s ahead. Be sure to avoid looking directly at these. When you’re going through lighting changes (from a well-lit, populated highway to one that is much darker) allow your eyes to adjust before increasing the speed at which you’re traveling and use your brights if you’re away from other vehicles. 

Watch Out for Wildlife 

Your headlights can pick up the retinas of animals before your eyes can register their bodies. If you see two small glowing spots in the distance, slow down as much as you can, as an animal is most likely ahead. If the situation calls for you to choose between your safety and the animal’s, choose yours first. But remember that crashing into an animal at a high speed can greatly endanger you and cause serious damage to your vehicle. If you cannot swerve safely, you must slow down significantly.  

Don’t Drive Drowsy  

Driving at night can be tiring. If you aren’t well rested, your driving will inherently become impaired. If you are too fatigued, find a rest stop and take a break, or switch off with another person in the car — night driving is risky enough, so you’ll need all of your alertness to make the trip safely during this time. 

Get Your Eyes Checked 

If you haven’t done so already, it may be beneficial for you to schedule an eye exam. The frequency at which you should get one depends on your age and race. An ophthalmologist should be able to tell you what is recommended for your vision health. 

Remember, traffic accidents and fatalities are greater at night. It’s of the utmost importance that you drive carefully when your vision and driving ability is impaired by the factors of the night. If you need auto insurance, call one of our agents today. 

In this Internet age, it’s incredibly easy to purchase insurance online – directly from the carrier and without ever having to leave your screen. When you’re in charge of insuring a fleet of commercial vehicles, this option is surely tempting. You don’t have much time, and purchasing insurance direct online will save you both time and money, right? It’s probably not as simple as that. Sure, the DIY approach might save you some time upfront, but how much do you really understand about the process? You’re an expert in your business, so you should be working with an expert in the insurance field to get the coverage that best fits your needs.  

YOU GET MORE OPTIONS 

When it comes to your carrier and coverage options, there is a clear benefit to working with an independent agent. Whether you’re running a trucking company or a business with commercial vehicles, you’re already busy around the clock. You don’t have time to scour the internet for the best insurance. Instead of having to shop around on your own, your agent will do that work for you and provide you with choices, so you can get the coverage that is best for exactly what you need.  

THEY’VE DONE THIS BEFORE  

A good agent knows their stuff. They have assisted numerous clients with purchasing commercial auto insurance for their business vehicles, so they understand the ins and outs of the process. If you try to go it alone – especially if it’s your first time purchasing insurance for your business – you may find yourself lost or confused, without anyone to give advice. Using an agent ensures that you have someone taking care of you who knows what is going on at all times and can explain it to you in plain terms. And if you have to file a claim? Your agent’s support and expertise will be even more invaluable in such a potentially stressful time.  

IT’S A PERSONAL RELATIONSHIP  

This can be one of the greatest advantages of working with an independent agent rather than purchasing insurance directly from a carrier. When you purchase coverage on your own, you may do it online and never speak to a real human. If you call the carrier, you will likely be connected to an employee in a call center. While it is possible to have a good experience with one of these employees, you won’t be able to build a relationship in the same way that you can with your own personal agent. Independent agents specialize in building an insurance portfolio just for you, so we understand the unique needs and challenges of your business in a way that a direct representative of a carrier may not. For your commercial auto insurance needs, the advantages of working with an independent insurance agent are clear. 

It’s the topic no one needs to think about, but everyone needs to think about it. For as the saying goes, the only things in life that are certain are death and taxes. When the time comes for you or a loved one, nothing helps people say goodbye like a meaningful funeral. However, they do take planning. Here is what you need to know to be prepared.  

YES, YOU DO NEED TO MAKE A PLAN  

A 2017 study by the National Funeral Directors Association (NFDA) found that only 21% of Americans discuss funeral plans with a loved one. Unless you want your loved ones to have to make a number of big decisions with big price tags in a matter of several days, you need to have a funeral plan set in place.  

WORK WITH LOVED ONES TO PLAN 

From casket choice to music choice, there are a lot of decisions to be made in the funeral planning process. It will be a huge relief for your loved ones to just have to follow your plan, especially at a time when they are grieving. You do not have to work alone in planning. Enlist your children or other loved ones to be involved in the process. This way, you get assistance and they will already be familiar with the plan when the time comes to put it into place. Most importantly, write the plan down and save several copies in places that will be easily remembered. You or your loved ones can even save a copy on a computer, so it can be easily accessed later.  

MAKE CHOICES, BUT DO NOT COMMIT  

Many funeral homes sell packages that they say provide discounted rates if you prepay. This might sound smart, but what will you do if you change your decisions, if the funeral home goes out of business, or if you move to a different state? Planning does not have to mean prepaying. What planning means is calling different funeral homes to get an average idea of their rates and packages, choosing the one that you like best, and simply making note of it in your funeral plan. By the time of your death, the funeral home could have closed, changed their prices, or something else that might cause your loved ones to alter the plan. Create your plan with flexibility in mind. 

CONSIDER FUNDING YOUR FUNERAL WITH AN INSURANCE PLAN  

If you’re worried about you or your loved ones having the money on hand to pay for your funeral, there is nothing better you can do than purchasing an insurance plan that will cover the costs. If you have a life insurance policy, make sure its limits allow for the costs of a funeral. If you do not have life insurance and are not interested in getting it (although, truly, everyone should have it), you can purchase a final expense plan that is specifically intended to cover the costs of a funeral and burial. Having the funds guaranteed in place by an insurance policy takes a huge burden off of those you leave behind. It truly is the smartest option.

When it comes to planning your retirement, a lot of agents will highly recommend that you invest in a permanent life insurance policy. In truth, this may not be the best move for you. The permanent life insurance policy is intended for individuals who have obtained a net worth of at least $11.7 million threshold as of 2021, in which federal estate taxes will kick in after death. Most individuals looking into a life insurance policy while planning for retirement should consider buying a simple term life policy with a death benefit and investment in any other disposable income in tax-advantaged retirement accounts. 

Organize an Emergency Fund 

Building an emergency fund is the first way to put savings from term life insurance to work. This emergency fund should be equal to three to six months’ worth of living expenses. Having this emergency fund is crucial to help cover any big, unexpected bills that may come along. With those potential obstacles curved by the emergency fund, you will now confidently be able to keep regular retirement contributions on track. Did you know that disability insurance can help protect your income (and retirement savings) if you are unable to work? 

Invest in Long-Term Disability Insurance 

We just mentioned that disability insurance can help protect your income, including your retirement savings, if you cannot work. Disability insurance has the main focus of replacing lost income if the individual cannot work. When it comes to life insurance, many people may have some form of disability coverage as an employee benefits, but that doesn’t always mean it is a great benefit. One other form of disability insurance is Social Security Disability Insurance (SSDI), although the benefits are modest and can be difficult to qualify for. One last alternative is acquiring a disability policy from private insurers. There are a variety of life insurance policies out there such as an own-occupation and an any-occupation policy. An own-occupation policy covers someone who can no longer work in their previous field due to a disability, while an any-occupation policy covers someone who can no longer work at all. 

Your Funds Always Have a Home 

The end goal in mind is reaching retirement with a comfortable insurance policy and fund. If you are already planning for your retirement, a tax-advantaged retirement account, such as a traditional or Roth IRA is usually recommended by financial advisors. This is also assuming that you are meeting the income limits are other requirements set by these two IRAs.  Another potential way to increase your retirement funding is by maxing out your 401(k) or a plan that is similar at your place of work if you aren’t already doing so. If you are unable to qualify for these types of accounts, don’t worry as you can always look into investing outside of a retirement account with the lack of tax benefits. One last option for you could be an index fund from a mutual fund company or brokerage firm. 

If you have any questions or need more information on preparing yourself to plan for retirement, contact your local agent today. 

The process of owning a new home can be exciting, especially for a first-time buyer. But it can also be challenging to navigate, especially when trying to figure out the right types of insurance you’ll need. Here are five things you’ll want to keep in mind as you choose how to insure your investment.

1. Insure for the Appropriate Value

A 2019 study found that three out of five American homes are underinsured by 20%. That means that if a $200,000 home is destroyed in a fire, an underinsured owner would still be left with $40,000 to pay when they rebuilt the home. A key reason for a home being underinsured is not accounting for the rising cost of construction. Owners can avoid this costly mistake by reviewing their insurance policy annually with their agent and obtaining an updated estimate of what it would cost to rebuild in the current year’s construction market. 

2. Check the Landscape

Are you near a flood plane, large body of water, or fault line prone to earthquakes? These natural disasters aren’t covered under the standard “HO-3” insurance, which only covers the structure, personal belongings, and liability in the event of damage or injury. In some areas, federal law requires you to have flood insurance if your home is within a high-risk zone. Even if it isn’t, you may want to consider extra protection if you’re near a large body of water like a river or lake that could flood unexpectedly. The same goes for residents living near earthquake-prone regions of the U.S. Check with your insurance agent to determine the best supplemental insurance for your home’s environment. 

3. It’s Not Just A Building

While your standard HO-3 insurance will cover personal belongings, you may want to obtain separate coverage for anything of significant value. This can include art, jewelry, collector’s items, heirloom furnishings, and more. While this does add a marginal amount to your premium, you will be protected in the unfortunate event of a theft, damage, or natural disaster. 

4. Renting? You May Need Extra Coverage

If you purchased, built, or renovated this property with the intention to rent, it is a good idea to consider extra coverage in case damage is caused by a tenant. Your local insurance agent can help you determine the correct types of additional insurance. This could include landlord insurance, which covers the dwelling, other structures such as a detached garage, and personal property used to maintain the rental such as a lawn mower. You may want additional liability insurance as well, in case a tenant becomes injured on the property and wants you to cover his or her medical expenses. 

5. Documentation is Key

After you’ve moved into your new home, be sure to take accurate photos and video recordings of your property, personal belongings, and assets located within the dwelling. Make a list of your major features of the home and assets, and also note the cost of these items. Keep this documentation stored off-site or digitally on a cloud-based software to ensure it is protected in the case of fire or severe damage. Be sure to share this with your insurance agent as well. Should the unthinkable happen, it is best to avoid the added stress and have a very accurate record when filing your claim. 

A personal home, even if it is a rental, is often your most valuable possession. While the chance of damage or total loss may be low, you never want to underestimate your home’s value to obtain a lower premium. By working with your local insurance agent to determine a fair and comprehensive policy, you can rest assured knowing your valuable investment will be protected for years to come.

Slips, trips and falls are the number 3 cause of accidental death in the United States, right behind motor vehicle accidents. No matter where you are in the world, if you are indoors or outdoors, you can experience a slip or fall. Slips and falls can naturally happen indoors when going up stairs or walking on wet hardwood or uneven flooring, but they are more common outdoors in parking lots and on sidewalks, stairs, decks, and other areas that are affected by the weather.  

Follow these tips to keep yourself safe and avoid having a dangerous slip, trip or fall.   

Consider Your Shoe/Footwear Choices 

Depending on the weather in your city, you may need to change your plans for the day. If your area is experiencing lots of rain, opt for shoes that have traction, like tennis shoes. If it’s really muddy and slick outside, look for shoes that are fit for hiking. When it comes to footwear in the wintertime, store your steel toe boots. If you wear them too long in the cold, they could cause hypothermia in your feet. Waterproof shoes that have good traction on the bottom should be the top qualities to look for when buying your next pair of winter shoes. 

Planning an outfit that requires heels or sandals? Make sure that the weather is sunny with no chance of ice, snow, rain, and the terrain is dry – or if the weather is wet, wear better shoes until you reach indoors safely. You’ll be protecting your ankles from any potential harm. If you are climbing stairs in shoes with heels or sandals, take mind to grip the stair railing to help keep balance you don’t fall.  

Tread Forward with Caution 

Wintertime environments are some of the most dangerous when it comes to the risk of a trip or fall due to the ice and snow that can accumulate. Another dangerous climate is one with a ton of rainfall. Rain can cause even the flattest of areas to become slick and offer up a one-way ticket to a fall. In order to protect yourself from experiencing a fall in these two dangerous climates, choose to wear shoes that are high in traction and waterproof. Another big tip is when entering or exiting buildings, do your best to avoid walking on curbs or steps if you can help it. Walk with caution and do not run in these conditions or you are increasing your chances of falling.   

Take All the Precautions You Can 

Here are a few things to be mindful of when faced with an inclement weather situation. When getting out of your vehicle, keep a hand on the vehicle to support yourself because you don’t know how slick the ground is. Did you know that putting your hands in your pockets to keep warm is more dangerous than it is worth? Keeping your hands free is necessary because by putting your hands in your pockets, you risk your balance since you’ve now lowered your center of gravity. 

What Happens If You Fall? 

The number one thing that you should do if you do happen to take a tumble is to tuck your head in towards your chest to avoid hitting your head. Keep your elbows and knees bent when you fall and try to land on your butt to help protect your body from sustaining any injury. If you’re unsure how your insurance would protect you in the event of a slip, trip or fall related injury, reach out to your local agent to make sure you’re covered for this common risk. 

Employee Practices Liability, often referred to as EPLI, covers businesses against claims by workers that their legal rights as employees of the respective company have been violated. There has been a considerably large rise of lawsuits employees have been putting against their employers. Traditionally, most lawsuits are filed against larger corporations such as Walmart or Target, but no company is fully immune to the risk of a lawsuit via an employee. Smaller companies are now beginning to understand that they, too, are going to need the type of insurance protection that EPLI provides. Some insurance providers add this as an endorsement to a Business Owner’s Policy (BOP) they offer, but remember that an endorsement will change the terms and conditions of the policy. Other companies tend to offer EPLI as a stand-alone coverage policy.  

What It Covers 

• Sexual harassment 

• Discrimination 
• Wrongful termination 
• Breach of employment contract 
• Negligent evaluation 
• Failure to employ or promote 

• Wrongful discipline 
• Deprivation of career opportunity 
• Wrongful infliction of emotional distress 
• Mismanagement of employee benefit plans 

Cost of Coverage 

As we see with every type of insurance coverage, the coverage cost you pay will always depend on the type of business you are insuring. When it comes to EPLI coverage, the cost depends on your business type, the number of employees you have, and various additional risk factors. Risk factors usually refer to if your company has been sued over employment practices in the past. The policies will reimburse your company against the costs of defending a lawsuit in court and for judgments and settlements. Whether your company wins or loses the lawsuit, the policy will still cover the legal costs. Typically, the policies will not pay for punitive damages, civil or criminal fines. If there are liabilities covered by other insurance policies, they are excluded from EPLI policies. 

How to Avoid Potential Employee Lawsuits 

When reviewing your hiring and screening process make an effort to make sure that you are avoiding discrimination the entire process. Ensure that you have the corporate policies posted throughout the workplace and a dedicated section in the employee handbook so the policies are easily accessible to all employees. Take care in teaching your employees the proper steps to take if they are the object of sexual harassment or discrimination while at the workplace. Express to all employees that they need to know where the company stands on what behaviors are acceptable and which ones are not permitted. Keep documentation on everything that occurs and the steps that you and your company is taking to prevent and solve employee disputes.   

If you would like to learn more about the policies and coverages included in Employee Practices Liability insurance, reach out to your local agent today.  

Many people in the world still have jobs and positions that require them to complete work outside no matter the weather. Worker’s compensation benefits were indoctrinated to help protect those who work in labor intensive positions. While we can lean on the workers’ compensation benefits to cover work-related injuries, it is in everyone’s best interest to try and avoid all potential harm that could occur. Winter is in full force and those workers who are out on the job should keep in mind the potential dangers that come with the territory. Working outdoors in cold, wet, icy, or snowy conditions can lead to cold-related illnesses and injuries such as hypothermia and frostbite. Below we’ve reviewed some of the best ways to help prevent any winter weather related injuries from happening to you or your staff.  

Who Is at Risk? 

As mentioned previously, those who work in a cold environment may be at risk of cold-related illnesses and injuries, or “cold stress.” There are many professions where workers must be subject to the harsh weather that comes in the winter months. These professionals include police officers, snow cleanup crews, sanitation workers, farmers, construction workers, and many others. If your employees take certain medications, are in poor health, or suffer from any illness (diabetes, high blood pressure, heart disease) it could mean they will face high risks in the work field.   

Prominent Winter Injuries and Illness  

There are three prominent illnesses that can be contracted through working in a cold weather position. Below we have listed the three illnesses, what causes them, and how to prevent them from occurring. 

Hypothermia  

What Causes It: 

When exposed to cold temperatures, the body begins to lose heat faster than it can be produced. Once outside for a prolonged period of time, the heat that your body has stored will be used up. As your body heat is released the temperature of the body will become abnormally low and begin the process of hypothermia. Early symptoms of hypothermia include shivering, fatigue, loss of coordination, confusion, or disorientation. 

How to Prevent:  

Hypothermia is an illness that affects the brain. This will cause the victim to be unable to think clearly or perform normal functionality. To combat this, work with another coworker or work in groups. 

Frostbite 

What Causes It: 

Your fingers, toes, nose, and ears are the most prominent body parts that are affected by frostbite and the most prone to it. Frostbite occurs when a part of the body freezes, causing damage to the tissue. Signs of frostbite beginning include numbness or tingling, stinging, or pain on or near the affected area.  

How to Prevent: 

Checking the weather and wearing protective clothing to combat the weather of that day. If working in icy and snowy conditions items such as warm gloves, insulated footwear, and warm hats will be the best choices.  

Trench Foot  

What Causes It: 

If your feet are kept wet and cold for an extended period of time, you may come down with trench foot. Moisture causes your feet to lose heat, and this can slow the blood flow and damage tissue. As an example, trench foot can happen when it is as warm as 60 degrees. 

How to Prevent: 

Be mindful of your footwear and the maintenance of them in order to help keep your feet warm and dry. 

If you need to add worker’s compensation to your business insurance plan or would like to know more about the policy, talk with your local agent today.