One of the most common questions for homeowners’ insurance coverage is the difference between market value and rebuild cost. The two are not directly related.
Insurance companies base your premium on the cost of rebuilding rather than the value of the home. Knowing how to differentiate between the two can make a difference in the amount you receive in the event of a disaster.
Regardless of your expertise on the water, proper boating safety should be followed every time you hit the water. Be sure to review these boating safety tips with any passengers on board to ensure everyone’s wellbeing as well as reduce any risk to your insurance policy.
Since most homeowners policies provide minimal jewelry coverage if your item is stolen, misplaced, or lost, and some policies even exclude coverage for misplacing or losing an item entirely, it is important to list valuable jewelry items separately on your homeowners policy or in some cases on a separate policy. The most important reason to have jewelry appraised is to determine an adequate replacement value in the event of a loss. Over the years, the value of jewelry and gemstones have fluctuated greatly.
Gun ownership is a hot topic at the moment, one that is never far from the headlines. With this debate comes the discussion of gun liability insurance. Many states have considered making it mandatory in the past but recent events have caused many individuals to seek protection themselves.
If you own, borrow, or rent recreational vehicles, you have a lot of responsibility on your hands. Everyone looks forward to having fun and no one counts on having an accident. Unfortunately, they happen and it’s important to be prepared in case one occurs.
First, have an effective risk management strategy. Protecting your assets, your vehicles, is an obvious place to start. Ensuring this protection starts with maintenance. Implementing a schedule of routine servicing and checks can guarantee the safety of your vehicles and potentially catch an issue before is poses a significant threat.
According to a recent survey by Pew Research, approximately 45% of adults own a smartphone in the US. Replacing a broken smartphone, or purchasing insurance through the phone carrier to cover a loss, can be very costly.
Establish Your Franchise
There are inherent risks when traveling abroad. Of course there’s the more simple possibility of a flight being cancelled, or perhaps you fall ill the day before a luxury cruise. But what if you break a tooth or develop severe abdominal pain? It’s not as simple as taking a trip to the local dentist or doctor.
The best ways to protect yourself are to research your destination and purchase travel insurance.
Manti T’eo. Today, it's not about his prowess as a sportsman but about a social media hoax. As it stands no one knows for sure what happened. And Manti T’eo will probably never shake the specter of the story. It will follow him forever no matter the outcome.
It's not a common storyline,
Bringing you these safety tips are Central Insurance, the Insurance Information Institute, and all of us here at Gibson. Tis the season to celebrate and be safe!
