risk management

The following blog posts have the category Risk management

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Contractor or Full-Time Employee?

A woman with a dog working from home Whether you specialize in carpentry, web design, or accounting, the availability of online resources and professional networks enables almost anyone to engage with potential clients and manage essential day-to-day business tasks independently. This growing pool of freelancers and self-employed professionals has simplified the process for employers, making it easier than ever to hire independent contractors to fulfill specific business needs.
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Is Your Home Insurance Up to Date?

View of a neighborhood Considering the barrage of daily concerns, your homeowner's insurance policy may be the last thing on your mind. And yet, examining and reevaluating home insurance policies on an annual basis is a critical facet of homeownership, ensuring adequate coverage and protection for the most valuable asset and source of equity for many people in Washington and beyond. Premiums, like much else in the current economic climate, are forecasted to see some big increases in the coming year, with some expected to exceed $1,000 a year and many slated for rate hikes in the double digits.
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Avoiding Remodeling Mishaps

Avoiding Remodeling Mishaps Summer's generally agreeable weather and extended daylight hours in Washington make it an ideal season to tackle renovations, remodels, and other household fix-its. Still, these projects aren't without inherent challenges and risks. A little due diligence at the onset can do much to minimize unhappy surprises and make for successful, stress-free (or, at least, as close as it gets) renovations.
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A Guide to Homeowners Insurance

Because homeowners insurance is a grouping of policies, you tailor your policy to fit your situation. If you need a homeowners policy, or want to review what you currently have, give us a call and we would love to help you out. So now that we know who needs a homeowners policy - let's talk about what it is.

What does homeowners insurance typically cover?

Homeowners coverage is broken into four different types of coverage:

1. Your physical home itself - the structure

2. The things that you own inside the house - your belongings

3. Liability coverage - lawsuits and medical coverage for guests

4. Additional living expenses - when you temporarily cannot live in your home because of an insured disaster.

So what does this look like -

Your policy is going to list the things that are covered - things like fire, hail, lightning and other disasters. In the case of one of these "insured events" these things are covered: Your house can be rebuilt, your possessions replaced, and the cost of living out of a hotel while being rebuilt paid for.

The liability coverage pays for lawsuits for bodily injury or property damage that you or others in your family cause, including your pets. So if your children break something in the neighbors house, your policy covers that. It also provides medical coverage, so if someone is injured in your home their medical bills can be covered. This does not cover medical bills for yourself or your family.

So how do you know if you have enough coverage?

Think about your house, how much would it cost to rebuild it today. Not when it was built, but today. How much is it worth, how much are the things inside your house worth. Sit down and talk with your insurance agent about the cost and make sure you have enough coverage to rebuild your home in the case of a total loss.

For liability it is a good idea to increase the minimum limit or to think about adding an umbrella to increase the limits across both this policy and your other personal liability policies as well. Make sure you think through what an injury or damage to others property might cost you, and make sure you have enough coverage!

Have questions about what kind of Homeowners insurance is right for you? Give us a call at 800-843-2430 and see what we can do for you!

Insurance Inquiry - What are Minimum Limits?

If you understand the way that insurance works, the words "minimum limits" probably inspire close scrutiny. If you don't understand how insurance works, that is why we are here. Ask, learn, and grow. The more you know the better your protection.