Nobody is perfect. That is certainly the case when it comes to driving on the open road. If you are involved in a motor vehicle accident, the first thing you need to do is call 911. The police officers will show up, take a look at the scene, and probably assign blame the one or more of the parties involved. If the accident was your fault, is your insurance company going to pay to fix your car? The answer is that it depends.Read More
A home is one of the most valuable purchases that you are ever going to make. In addition to being a location where you are going to make a bunch of memories, it is also a valuable financial investment. If something were to happen to your home, would you be able to cover the value of your home with cash? The likely answer is no. That is why it is important to find home insurance. At the same time, is home insurance actually required by law? There are a few important points you should keep in mind.Read More
Your home is one of the most valuable investments you will ever make. Of course, you are going to make a lot of great memories in your home. At the same time, you probably expect the value of your home to go up with time. Therefore, if your home increases in value, do you need to purchase more home insurance? The answer is that it depends.
But let’s start with this question: Why did your home increase in value?Read More
Homeowners understand the challenge of finding the right balance of insurance protection and risk management. It is a struggle every homeowner faces. Those who own high-value homes (typically those valued at $750,000 or greater) often have different insurance needs than homeowners with less valuable homes.
Insuring a High-Value Home
When it comes to insuring a high-value home the challenge isn’t always about insuring the home for the right amount. Sometimes it is about the additional insurance products you need to protect the value, structure, integrity, and value of your home.
After all, your home is an investment. One that most people purchase with the intention of growing value over time. Getting the right amount of homeowners insurance is only half the battle. You must also continue the following types of insurance protection to supplement your coverage and have the robust insurance protection you require. This includes the following types of insurance products:
Sufficiently insuring your high-value home is about much more than getting the right dollar amount of protection for covered losses. It’s about having protection and coverage in all the right places. InsuranceHub can help you with all your homeowners’ insurance needs. Contact InsuranceHub today by calling 770.497.1200 and let us help make sure you have coverage where you need it most.
When most people hear the word exotic, they think of beaches, the food at an upscale restaurant, or a tropical vacation. The automobile industry also uses this term to describe highly unique cars with features typical cars do not have. Below we outline two considerations exotic car enthusiasts use when determining if a car truly meets that definition.Read More
Transportation company insurance isn’t as simple as saying you want truck driver insurance. You’re responsible for providing vehicles, protecting cargo, and keeping the roads safe for one and all. That means you need to have the right kind of trucking insurance to protect your financial interests and those of the people you employ.Read More
Last year saw a record number of Americans lose their job due to the coronavirus pandemic. Perhaps you were one of them and decided to start your own business from home. Another possibility is that you already operated a business and recently decided to move your operations home. Whatever your situation, it is important to make sure that you have the right home-based business insurance from the start.Read More
Business success is something we all seek to achieve in the coming year. There are some moves you can make within your organization that will do more to generate success in the future than many others. If you adopt the following eight habits for your towing business, you are sure to enjoy greater business success in 2021 and future years as well.Read More
Employees are already the weakest link when they’re in the office; the vast majority of cybersecurity breaches occur due to the mistakes or negligence of employees. So, what happens when they’re working from home? Working from home can increase productivity and efficiency — as well as reducing costs. But it also introduces some cyber liability problems that do need to be addressed.Read More
Congratulations! You just rewarded yourself with the purchase or lease of a gorgeous car with a price tag over the $100,000 mark. Of course, you got car insurance, as required by your state, but if you opted for the bare minimum coverage, you could lose your new ride after a simple fender bender. That special car needs a high-value car insurance policy.
Most states have a minimum liability requirement listed on their auto insurance regulations. While the $10,000 to $25,000 coverage will pay the bills for most traffic accidents, the fact is that your high-end vehicle is driving around with a target on its door. It is advertising that the owner likely has a deep pocket, and the other party may decide to go after you for additional expenses.
It is a good idea to talk to your agent about raising the maximum payouts for medical payments, property damage, and liability. For you, this means that if you cause an accident, you end up paying only your deductible while your insurance protects your bank account. And the other guy? They are properly compensated for their injury or losses.
When you are driving the only Maserati or Land Rover in town, finding a replacement after an accident can be a little more challenging compared to your Dad’s Ford. It will not depreciate at the same rate as other more common rides. For this reason, high-value and collector cars often include an Agreed Value section. Most standard car insurance policies will lower the market value of your ride as the years go by based on statistical depreciation. The Agreed Value will remain the same, protecting your investment and allowing you to replace the unique ride with a comparable one if it is lost in an accident.
The transmission and suspension on your supercar will not appreciate being hooked up to a standard tow truck. Prevent additional damage resulting in an even higher repair bill when you opt for the premium tow section on your policy. You will also want to stipulate that any repairs made to your car will be completed according to factory specs and at the certified dealer or restoration shop of your choosing. Other car insurance policies often specify that parts and labor will be done at lower rates, using aftermarket parts. That kind of repair can significantly alter the value of your unique ride. Making these decisions now limits your frustration and disappointment later.
Finally, if you live in an exclusive neighborhood, you just might end up scratching the paint on other high-value rides. An Umbrella Policy provides added protection when the liability portion of your auto insurance is maxed out by a tragic or expensive accident. There is no reason to put your car, home, and savings on the line due to some bad luck.
Even if you bought the new sports car on a whim and fast-tracked the transfer of your old car insurance policy, you can still make changes now. Simply pick up your phone and have a discussion with your agent about completely protecting the new ride and your bank account today.
