Wayne Texeira Marketing Director, CFMP, AINS, AIS, API
- Your homeowners policy only provides $2500 coverage for personal business property in your home. If you have a home office, you may need to increase coverage to fully protect your computer, office furniture, equipment, filing cabinets, etc.
- If a tree falls on your vehicle, the damage is not covered under your homeowners policy. You are covered only if you carry comprehensive coverage on your auto policy.
- Without a renter insurance policy, the contents of your apartment are not covered if they're stolen or lost in a fire.
- Your homeowner policy does not cover flood damage. If houses in your neighborhood have flooded in the past, you should check into a flood policy.
- You can lower your payments on most policies simply by raising your deductible. But, a higher deductible does mean you'll pay more out of pocket if you have a claim. Don't risk more than you can afford.
- If a brand new vehicle is totalled in an accident, an auto policy may not always provide enough coverage to replace the vehicle and/or pay off the loan/lease balance. Check to see if your auto policy provides new vehicle replacement coverage and loan/lease gap protection. If not you may want to purchase this additional coverage.
- If you drive in a carpool, you might need to increase the medical coverage on your auto policy to fully protect your passengers.
- An employee who is injured while driving a business vehicle in the course of doing business is covered under workers' compensation -- not under the commercial auto policy.
- Among people turning 65 today, 69 percent will need some form of long-term care, whether in the community or in a residential care facility. (Source: www.AAHSA.org) A long term care policy can help protect you from the financial burden of nursing home costs.
- Your company could be liable if an employee has an accident while operating their own vehicle for work purposes.