P.O. Box 1750, Cockysville, MD, 21030
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Need to Know About Renters Insurance

Bookmark and Share A recent nationwide survey found that only 34% of tenants carry a Renters policy which means that most renters are taking a financial gamble with all of their belongings.

The three leading reasons that respondents gave for not buying Renters insurance show that many people don't understand what this policy covers - and doesn't cover:
  • Nearly three in five (57%) felt that their rented home has such effective security that they don't need protection against losses from theft.

    However, without a Renters policy, tenants still remain highly vulnerable to other risks. A fire could damage or destroy their possessions, requiring replacement at a high cost. An accident might leave the unit temporarily unlivable, costing hundreds or thousands in living expenses. An injury to a visitor on the premises could result in costly medical bills - not to mention a lawsuit. The typical Contents policy will provide protection against these losses - and a wide variety of other risks.

  • More than half (52%) believed that they couldn't afford the coverage. Among respondents, 21% estimated the annual premium at $1,000 or higher, while another 60% pegged the cost as $250 a year or more.

    However, according to the National Association of Insurance Commissioners (NAIC), the average Renters policy costs only around $185 a year.

  • Nearly half (48%) thought that the landlord already had coverage.
Although the landlord carries insurance in the building itself, the policy does not cover risks to tenants' property and liability.
 

Outdoor Home Repairs - Reduce Winter Insurance Claims

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Do you know the most common residential insurance claims? Learn what they are so that you can prepare your home this fall. That way, you'll prevent expensive repairs and possible insurance rate spikes before winter weather strikes.

1. Water Damage

From a leaking roof to cracked pipes, water damage can ruin your home and possessions. Inspect the roof and make any repairs before heavy snow and ice arrive. Clean and repair rain gutters, too, to ensure water runs off into the street instead of saturating the ground around your basement.

2. Fire Damage

Unexpected cooking or heating source fires can quickly level a home. While you'll want to test your indoor smoke detector batteries and practice the escape plan, replace furnace filters and clean the chimney, too. Then, inspect the exterior of the chimney to remove bird nests and ensure it is in safe working order.

3. Storm and Wind Damage

Snow, ice and wind storms damage fences and roofs. Take time now to trim trees and remove dead or low-hanging branches that could do the most damage around your property. Nail loose siding into place and secure patio furniture, bicycles and other loose items inside the shed to prevent them from flying away or being damaged.

4. Visitor Accidents

Uneven sidewalk, loose railings and worn deck stairs could cause your winter visitors to slip and fall. Fix these problems now. Also, stock ice melt and a sturdy shovel so that you can remove ice and snow as soon as bad weather starts and before anyone suffers an injury.

5. Animal Bites

Prevent your dog from biting or attacking anyone when you repair the fence so that it can't escape the yard. Ensure the lock is tight as well. When visitors come into your yard, tie your dog securely to a post with a sturdy leash.

These five common insurance claims could affect you, but preventative measures go a long way toward protecting your family, home and visitors this winter. While you're at it, ensure your home insurance policy is up to date. Add liability coverage or an umbrella policy if necessary when you talk to your agent today.

 

HOME SECURITY SYSTEMS: MYTHS AND REALITY

Bookmark and Share Don’t let negative rumors about home security systems keep you from adding this valuable protection for you and your family. Before you buy a system, consider these myths and realities:

Myth: No one will break into my home.

Reality: Burglars can target any home anywhere, and they’re seeking unprotected targets like yours. In 2011, the FBI reported more than 1.5 million residential burglaries, an average of more than one a minute.

Myth. Security systems cost too much.

Reality: According to the FBI, burglaries cost victims an average of $2,185 in 2011. A security system that costs $50 a month (a mid-range figure for most systems) can provide more than three and a half years of protection for the money and valuables you might lose in a home burglary, not to mention helping ensure your peace of mind.

Myth: My pet will set off false alarms

Reality: Many home security systems are pet friendly, designed to distinguish between pets and intruder.

Myth: Having a security system won’t lower my insurance rate

Reality: Because insurance companies can save a ton of money when policyholders use quality alarm systems (which reduce the chances of burglary claims significantly) they offer these customers a sizeable discount on homeowners coverage. You can use these savings to offset the cost of your system.

Myth: Because I have insurance, I don’t need a security system

Reality: Insurance can’t bring back irreplaceable items, such as family heirlooms or other valuables, which a home security system can help protect. What’s more, many people don’t want to deal with filing a claim and receiving an insurance settlement.

For more information on the benefits that alarm systems can provide, feel free to get in touch with us at any time.
 

Commuting to Work? Take a Second Look at Your Auto Insurance.

Bookmark and Share 4As traffic increasingly approaches gridlock in urban areas, and higher housing costs cause workers to push their homes ever further from work, it's no surprise that commuting times have lengthened considerably.

Longer trips to work mean that more and more car-bound commuters are looking for ways to pass that seat time either productively or pleasantly. Hands-free cell phones, enhanced stereo systems, laptop computers, PDAs, and (hopefully only in the back seat) DVD players and video games are standard equipment in many vehicles.

Have you considered how your Personal Insurance coverage will cover losses to these often-expensive additions?

To determine how much coverage, if any, your Auto or Homeowners policy will provide for these tech "toys," you'll need to determine:

  • The value of the device.
  • Whether it's "built-in" to the vehicle, or powered through an adapter.
  • The value of any media (such as CDs, DVDs, or game cartridges) used with the device.
  • Whether the device is for personal or business use, or both.
Be sure you have the coverage you want before a loss reveals a possible gap in your protection. Contact one of our Personal Insurance professionals today.