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The Murphy Insurance Blog

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News, updates and useful tips about insurance products and the insurance industry. We also provide insights on community events, local news and information that affect your everyday life. Enjoy!

When making decisions about your insurance, it can be a balancing act deciding how much coverage to buy. When a claim occurs, few people would regret having spent a little more for the extra coverage that prevents a large out of pocket expenditure. Avoiding these common insurance mistakes will help ensure you have solid protection.

Whether you’re running a part-time, seasonal or full-time business from your home, you’ll want to carefully consider your risks and insurance needs. Starting a business—even at home—can be a challenging venture, and having the right insurance can provide a financial safety net and peace of mind.

Insuring jewelry is different from your other personal possessions. Standard home, renter and condo policies generally have a $1,000 specific limit in the event of theft. You may be able to increase that amount to $3,000 with some companies; however, for an expensive piece such as an engagement ring, you probably would have a coverage gap. Find out how you can protect the full value of your high value jewelry and get better coverage for situations such as losing the ring or a stone falling out.

Forty percent of businesses do not reopen after a disaster and another 25 percent fail within one year. But by taking action in advance to prepare, businesses can increase their chance of getting back on their feet financially and keeping their doors open.

According to a survey by Apartments.com, 58% of renters don’t purchase tenants insurance...often because they didn’t know that it existed or thought it was expensive...

Sometimes decisions you make can impact the pricing and availability of insurance. If you’re contemplating any of these decisions, be sure to speak to your insurance agent first to discuss how these issues can impact your insurance coverage and premium.