Is Your Flood Insurance Coverage High Enough?

Flash floods continue to devastate many parts of the nation that, before a few years ago, considered themselves minimal flood risks. Experts say that factors from more rain due to possible climate change to less absorption of groundwater due to greater urbanization are uniting to make flooding more likely just about everywhere. FEMA announced in 2010, “Flooding is the most frequent severe weather threat and the costliest natural disaster facing the nation.”

Wayne Klocko, property claims manager for Liberty Mutual, said, “Businesses in areas you would not normally consider to be at high risk of flooding are having to reconsider …

Why Everyone Should Consider an Umbrella Policy (Part II)

So it’s easy to understand why someone with sizable assets to protect needs an umbrella policy, but let’s get back to that misconception I mentioned earlier. What if you are an average middle class worker with an annual household income of $50,000, a house with a mortgage, two cars with payments, a couple retirement accounts, and a few thousand dollars in the bank?  If this were the case, do you really need umbrella insurance?

After all, if you have up to $250,000 in liability coverage on your auto and homeowner’s policies, this would seem like enough to protect the assets …

The Need for an Annual Insurance Policy Review

The purchase of a homeowner’s insurance policy is one that individuals make when the need arises but tend to ignore except when the time comes to pay the premium. Do not overlook the need for an annual home insurance review. The review ascertains that your policy is up-to-date, that the home remains properly insured, and will prompt a discussion with your agent as to whether you have additional insurance needs that may have cropped up since the last review.

Here are some of the items you should review with your insurance agent on an annual basis:

• The replacement cost of

Why Everyone Should Consider an Umbrella Insurance Policy (Part 1 of 2)

Many people in this country consider themselves insurance poor; that is, going broke just buying the insurance that is ‘required.’ And with the difficult economy, a growing number of people are finding it tough to pay for just the basics. However, there is one type of insurance that everyone should take a serious look at; umbrella policies.

Umbrella insurance is basically an extension of your standard auto and homeowner policy liability coverage. These policies are best purchased together with your standard policies and are often discounted when bundled through the same insurance carrier.

When it comes to umbrella insurance policies, …