Homeowners Insurance | Boizelle Insurance Partnership - Page 18
How Insurance Can Protect You Through the Years
They say that the only constant in life is change. And that’s true whether you’re 18, 80 or somewhere in between.
One thing to consider when life changes is your insurance coverage. Here are six common transitions that your Erie Insurance agent can help you navigate.
You’re off to college.
With Erie Insurance, full-time students younger than 24 are automatically covered under their parents’ homeowners policy. Part-time students (or students who are 24 and older) may need to take out a renters insurance policy. If you choose to live in an apartment instead of a dorm, think about purchasing a separate renters insurance policy. (Learn more about renters insurance below.) When it comes to car insurance, you don’t need your own policy if you’re taking a family member’s car to school. If you’re a co-owner on the vehicle or if you own your own car, you probably need your own policy.
You’re renting your first place.
You found the perfect place, but since your landlord’s policy doesn’t typically cover your stuff, you’ll want to look into getting your own renters policy. In addition to protecting your belongings, a renters policy also provides worldwide liability protection for a situation like harming someone while riding your bike. If someone is hurt in your apartment, your policy most likely would pay his or her medical bills. A renters policy will often cover additional living expenses if your apartment is damaged and you can’t stay there because of something like a fire. There are many affordable options—plus, you can qualify for a discount if you purchase both a renters and an auto policy from ERIE. In some cases, the discount can pay for pay for most (or all!) of the renters policy.*
You just got married.
If you’re just starting out, you’ll definitely want to look into life insurance. Life insurance can be the most affordable way to help ensure that you or your new spouse is able to carry on if the unthinkable were to happen. Also remember to ask about your auto insurance. You could qualify for discounts, including a multi-car discount if both cars are insured by ERIE. Finally, you may need extra coverage on an engagement or wedding ring. With an Erie Insurance homeowners or renters policy, your coverage for lost or stolen jewelry is capped at $3,000. So if your ring is worth more, you’ll want to consider separate coverage.
You welcomed a bundle of joy.
You may have binkies, diapers and formula on your mind, but another thing to consider is life insurance protection for your family. Everyone needs financial protection—even a stay-at-home parent. With life insurance, you can provide for your loved ones even if…well, you’re not there.
You retired and are renting a place somewhere warm for the winter.
No penalty for sand between the toes! If you’re going south, an extra policy is not needed in the majority of cases. That said, a lot depends on the policy you already have, how long you’ll be gone and what kinds of things you’ll be taking to your temporary home. For these reasons, it’s a good idea to check in with your agent before you head south.
You or a loved one is entering an assisted living facility.
When it’s time for help with care, it’s a good idea to consider a renters policy if you or a loved one is entering an assisted living facility. A renters policy covers belongings—and, more important, personal liability. For instance, renters insurance could cover your loved one if he or she was responsible for injuring someone.
Many people can’t afford to pay big medical bills out of pocket, so definitely contact your Boizelle Insurance before making the move. Life may change, but one thing that doesn’t is being able to rely on us. You can always turn to us when it comes to making sure you’re protected at every stage of life.
*Individual policies may differ.
Originally by: Amanda Prischak, Erie Insurance
Read moreHalloween Safety Tips
The annual apparition of spooky skeletons, broomstick-riding witches and carved pumpkins is a sure sign Fall is well under way. Second only to Christmas in terms of how much consumers spend on decorations, Americans of all ages seem to love celebrating Halloween.
The Halloween spirit has spread to the inside and outside of the home as well, with homeowners setting up elaborate displays that range from haunted houses in the basement to graveyards on the lawn, as well as high-tech LED lighting outdoors. When planning and setting up your Halloween decorations, it is a good idea to consider any potential risks involved. Taking steps to prepare your property and to protect any visitors can help spare you from a truly frightening night.
Be Aware of Dangers that Might Not be Visible During the Night
- Walk your property before Halloween to identify and minimize potential dangers, especially those difficult to see after dark. For example, check to make sure temporary extension cords are secured to avoid becoming a tripping hazard.
- Make sure walking surfaces are even and clear of debris, and that any obstacles are clearly marked, such as stakes, exposed roots or holes.
- Ensure that your front yard, walkway and entry way are well-lit so that those unfamiliar with your home can safely navigate. If using a fog machine, be careful that the fog does not make it difficult to see tripping hazards.
Remember that Welcoming the Neighborhood Inside Also Invites Risk
- When hosting a haunted house, make sure to allow adequate floor and exit lighting. Keep exits clear to help prevent tripping.
- Avoid advertising the event in your neighborhood or on social media.
- If charging for admission for a haunted house or other forms of entertainment, be aware that this could be considered a business activity and you should consult with your agent or insurance company representative to ensure you have the proper coverage.
Be Smart about Where You Place Decorations
- Set up decorations with traffic flow in mind. Place them to prevent tipping over, blowing away or becoming a tripping hazard.
- When plugging in your scary indoor decorations, do not overload electrical outlets.
- Follow the manufacturer’s instructions to help avoid damage to your home or injury to your guests. For example, make sure inflatable decorations are secured properly and kept away from sources of ignition.
Set Up Spooky Lighting with Caution
- Avoid any kind of open flame.
- Consider using battery-operated candles or LED lighting as a safe alternative to candles.
- Do not drape costumes or other fabrics over light bulbs, which generate heat and can start a fire.
Choose Decorations Wisely
- Avoid dried flowers, cornstalks and crêpe paper because they are highly combustible. Keep these and other decorations away from open flames and heat sources, including light bulbs and heaters.
- Use lights and other electrical decorations that have been tested for safety – look for a certification mark from UL, CSA, ETL or another nationally-recognized laboratory.
- When plugging in decorations, avoid daisy chaining extension cords, which may cause overheating.
- Never staple, nail through or fasten electrical wires or extension cords in any way that might damage the wire or insulation. This could cause electrical shock or fire.
- Plug all outdoor lights and decorations into ground-fault circuit interrupters (GFCIs) to help reduce the risk of electric shock. Portable GFCIs for outdoor use can be purchased where electrical supplies are sold.
Do Not be Frightened by the Risks
- Give yourself peace of mind and speak with your insurance agent to make sure you are properly covered.
- Consider an umbrella policy that could provide extra protection in case of an accident.
Originally by: Travelers Insurance
Read more4 Reasons Why You’ll Want to Work With One Insurance Company
There are lots of ways to get insurance coverage these days, but working with one insurance agent and company for your business, home, auto, and life insurance has a lot of advantages. Here are four:
- Fewer worries – You’ve worked hard to build a solid financial foundation, so you’ll want to be sure everything is protected at work and home. Insurance can help protect your life, income, business and help keep a roof over your head.
- Saves time – Working with one company saves time and eliminates hassle because you won’t have to keep track of contracts at multiple companies.
- Helps prevent a gap and overlap – Just one coverage gap could put you, your family or your business at financial risk. Working with an insurance agent, you could reduce coverage gaps and avoid overlaps.
- Saves money – Get coverage for your business and personal life without having to choose between great protection and saving money. When you buy multiple insurance policies with one company, discounts are typically available. For instance, with Erie Insurance, a discount is available if you have a qualifying life or home policy in addition to your auto policy.1
The Licensed insurance agents at Boizelle Insurance have a lot of experience helping people with their insurance needs. We’ll explain what types of coverage are available, answer your questions and can help make sure you have the right coverage at the right price. To get started, contact Boizelle Insurance today.
1ERIE® life insurance products and services are provided by Erie Family Life Insurance Company, a member of Erie Insurance Group, and are not available in New York. See individual policies for specific coverage details. Certain terms and limitations may apply. Refer to our disclaimer for additional information.
Originally by: Carolyn Sennett, Erie Insurance
Read moreInsuring a Vacation Home
A vacation home can be a wonderful luxury and sometimes even a good investment, but there are some important factors to consider before making the leap into second-home ownership—such as insurance costs. Just like your primary home, you’ll need to insure your vacation home against burglary, fire, weather damage, liability and other risks. Because insurance can add significantly to the price of buying and owning a vacation home, you may want to consider the likely insurance costs before deciding on a specific property.
Key Factors Impacting Vacation Home Insurance Costs
For a number of reasons, insurance for a vacation home can be more expensive than the coverage on your primary residence. Notably, your second home may often be unoccupied, putting it at greater risk for theft, vandalism and undetected damage, like burst water pipes. When you shop for a vacation home, it’s important to recognize that the following factors will impact your insurance costs:
Location—The location of any home is always a factor in pricing insurance policies, but it can be especially significant for vacation homes. The very location that makes a vacation home desirable may also make it more expensive to insure. For instance, a ski house or hunting lodge in a remote or mountainous area could be at greater risk for damage due to wildfire. A beach house may be more exposed to wind damage or storm surge from a hurricane. These location-based risks will impact the price of coverage, and in some cases may even incur higher deductibles.
In addition, if the home is located in a flood zone, you’ll be required to purchase a separate flood insurance policy. Flood damage is not covered by standard homeowners insurance policies, but coverage is available from the National Flood Insurance Program (NFIP) and from some private insurance companies (like Boizelle Insurance). The cost of NFIP flood insurance for second homes has been increasing and there are also special surcharges that you will be required to pay. You can check the cost of flood insurance for a specific location by going to www.floodsmart.gov. You can also lower your insurance costs by choosing a location with less risk—for instance, further from the beach, down the mountain or in a gated community where there is security.
Type of Property—As is the case with any house, a vacation home’s age and types of building materials used will impact the cost of insurance. In addition, these costs will vary depending on whether your second home is a single-occupancy house, a condominium or a townhouse. A condominium, for instance, may have lower insurance costs because the homeowners association maintains and insures the exterior of the property and may provide security. Generally, the cost of insuring the structure of the unit will be included in the monthly maintenance fees. Your personal condo insurance will cover your belongings and specific areas of the unit listed in the policy.
Amenities—If your vacation home has a pool, hot tub or other special amenity that adds risk, you may pay a higher insurance premium. You may also want to purchase more liability protection as these items are considered “attractive nuisances” that lead to a higher probability of liability claims being filed.
Ways to Save on Second Home Insurance Costs
While the price of insurance will increase the total cost of ownership of a second home, there are steps that you can take to help make insurance more affordable:
- Bundle Your Policies—If you insure your second home with the same insurer that provides coverage for your primary residence, you may be able to save 5 to 10 percent.
- Install an Alarm System—A centrally monitored alarm system that detects both fire and break-ins can help lower the cost of insurance on your second home.
- Shop Around—Get at least three quotes for coverage on your second home. It pays to shop around, both when you first purchase a policy and before you renew your policy each year.
Will You Rent Your Property?
If you plan to rent your vacation home to others, your homeowners insurance costs will likely increase, and you may need to purchase additional coverage. Your insurance needs will depend on how often you rent out the property and for how long. For a one-time short-term rental, you may be able to add a simple extension (an “endorsement”) to your existing homeowners policy. On the other hand, if you plan to regularly rent out your second home, you may need separate business coverage or a landlord policy. While some rental services, such as Airbnb and VRBO, offer coverage for homeowners, it’s important to read the fine print to determine limits and exclusions.
Because renting your second home entails additional, more complex risks, it’s a good idea to consult with your insurance professional. Call Boizelle Insurance today!
Originally posted by: Insurance Information Institute
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