Why Insurance Market Value is less than Replacement Cost of Home
One of the most common questions our office receives is: “Why does the insurance company say the market value of my home is much higher than it is actually worth?” First, the questions is worded improperly. Not intentionally, but the problem is that the “market value” of your home has zero to do with the “Dwelling A” (or reconstruction cost) coverage listed on your declaration page. Or what most of us believe to be the “value” of our home. So then how does it really work? My home is valued at $75,000, I owe $80,000 and the insurance...
Read MoreWhen Can I Remove my Teen from my Auto Insurance Policy?
One of the most frequent questions we receive at the agency is about teen drivers. Youthful drivers (or teen drivers more commonly known) are drivers that are between the ages of 16-25. This risk pool of drivers is one of the highest risk factors for insurance carriers. And quite frankly, a stressful financial impact to most families. Many times when a family looks to add a teen driver to the policy it more than doubles the cost of the policy. With that, many parents want to immediately look to having the child obtain their own policy. Let’s take a look at why most of the time,...
Read MoreSAFETY ALERT
Icicles and rooftop snow can be dangerous this time of year. With yet, another impending snow/ice storm coming to central Indiana in the next 24 hours this will inevitably lead to more build up of ice, snow, and the formation of icicles. Icicles form from the heat emanating from homes, cause snow or ice to melt and then re-freeze into icicles hanging from gutters below them. Here are some safety tips and prevention ideas for icicles. Icicle Safety Tips: You should not stand under areas with icicles above. The weight of icicles can cause gutters, awnings, and ornamental features to collapse...
Read MoreSummer. YES, please. FINALLY!
After what seemed like the longest winter in history, Summer is almost finally here! (The unofficial start is Memorial Day Weekend). In just a matter of a few days the kids will be out of school, the days of homework, and baths and bedtimes will finally get a break. Soon our days and weekends will be filled with swimming, and bbq cookouts, boating, amusement parks and hopefully a few weekend get-away’s and some great memories. In my family we always look for short affordable vacations that can be driven in a day or so and be done over a long weekend. We always look at...
Read MoreSt. Patrick’s Day Trivia, and A Reminder to be Irish Responsibly
March 17th is traditionally the day recongnized to commemorate the death Saint Patrick in 461AD and the arrival of Christianity in Ireland, it is known as the day of “The Feast”. It is also recognized as celebrating the heritage and culture of the Irish in general. Many people today recognize March 17th as the start of spring, yet the actual start of spring is 3 days later on March 20th. Test your skill at some of the top St. Patrick’s Day Facts: Odds of finding a four-leaf clover are 1 in 10,000. The largest St Patrick’s Day parade is held in New York City....
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