Protect yourself and your home with flood insurance

If you live in a flood prone area, having flood insurance helps a great deal in preventing financial loss due to flooding. Even a few inches of floodwater can lead to enormous damage. In the US, between 2010 and 2014, the damage claim involved due to flood alone was over $39,000 in an average residential flood situation. And the premium paid annually for flood insurance was around $700 in a year.

Flood insurance is provided for renters, homeowners, and commercial and condominium owners. The cost varies based on the insurance amount purchased, the area covered, and the flood risk of the concerned property.

While considering flood insurance policy, you should discuss about insuring personal property as contents are mostly given optional coverage only. Since it is vital to protect your home along with its contents from floods, you need to consider the right coverage. Depending on the level of flood risk your home is subject to, the insurance premium would vary.

Low risk

If you live in a moderate or low risk locality, you can avail low premium insurance. Low risk areas are automatically eligible for preferred risk coverage, but if your home doesn’t qualify, you need to opt for the standard rates.

While flood insurance is not mandatory, any home can be vulnerable to a flood situation. Even those who do not come under the high-risk areas have claimed flood insurance and received assistance for damage from flooding.

Basement cover

The flood insurance policies generally cover the foundation elements of the house and the equipment needed to provide support to the building such as circuit breakers, water heaters, furnace etc. While the circuit breakers, water heaters, and furnace come under building cover, the freezer, dryer, and washers come under contents cover. To protect the basement from major damage due to floods having a proper SUMPPUMP is must.

Flood insurance does not however cover improvements done on basement such as ceilings, floors, finished walls, or other personal belongings.  To know a more detailed list, you should look into the flood insurance policy forms of your insurance policy provider, so you are not faced with any unpleasant surprises during a claim.

High risk

In case you reside in an area that has high flood risk, the only option available is the standard rate policy, which offers separate cover for contents and building.


The flood insurance premiums are calculated based on the year of construction of the building, location of contents, number of floors, building occupancy and location of the floor present at the lowest level for newer buildings, the deductibles you opt for and the coverage value you choose for the contents and building. In case of high flood risk locations, you should have flood insurance, especially if you have a mortgage for your home through an insured lender or federally controlled lender.

Other than homeowners, renters too are eligible for flood coverage at preferred rates. This ensures a low cost premium, while providing cover for the building and contents.

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Insuring Your Cafe or Bar

Jul 04, 15 Insuring Your Cafe or Bar

You’ve probably heard about many different types of insurance, but did you know that one of the most prominent and most sold types of insurance is business insurance. If you own any type of business, you will want to have good coverage in case anything happens. If you don’t have adequate insurance, an accident or some bad luck can drive your business into the ground. In this article, we will be discussing business insurance for bar or café owners. So, here are some good tips if you want your bar or café to be fully insured and safe from harm.

  • Planning

Getting business insurance requires a fair amount of planning. This especially goes for businesses which sell alcohol in their establishments. One of the first things you need to ask yourself when assessing insurance or planning risk management is about the value of your property, fixtures and content in the establishment. Is your establishment located in an old building or a newer one, do you have coolers, a karaoke machine (like these), expensive décor, or a big stock?

  • Alcohol

Another important question to settle is how much alcohol you are going to be selling. Are you opening a relaxed daytime café with nice dining, or have you already bought yourself a karaoke machine, and are planning to have a crazy and drunken karaoke bar? If your sales are going to be more than 50% alcohol, you have to aware of the fact that your premiums are going to be higher. Find out just how much that will be before settling on just any insurance plan.

  • Liability

Another important point you have to inform yourself about is what is the bar owner liability in case of injuries to a third party which an intoxicated patron causes. This varies from state to state, so it would be best to find out the correct information from a bar or café counsel in your area, or ask someone who you’re sure has the correct information on this topic. If you are liable for any injuries, your premium is sure to be higher.

  • Natural Disasters

Is your establishment located in areas which are prone to natural disasters or some other dangers? If so, your premium will definitely be higher. These areas include beaches, flood prone areas, areas with a high risk of hurricanes and earthquakes, mountainous areas, etc. Get the correct information on your area before settling on how much your premium is going to cost.

  • Other people

Are you going to have other workers in your establishment other than yourself? if so, you will definitely be needing some kind of workers’ compensation insurance which is going to accompany your business insurance policy. Another important point to consider is whether you’re going to get health insurance for your workers, and if so, what kind of insurance will it be and what kind of coverage will it provide.

These are all important points to consider before you even contact your insurance specialist. Have all your answers and documents ready when you sit down to discuss premiums.

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Tips For Better Home Insurance

Jul 03, 15 Tips For Better Home Insurance

While some types of insurance aren’t necessary, only a good idea, some, like home insurance, are an absolute must-have. This is obvious from the fact that most mortgage companies will not give you a loan or help you in financing residential real estate transactions if you don’t provide proof that you have coverage of your property. In this handy article, we will give you all the information you need if you want to be sure that your home insurance is everything you personally need.

Insurance for homeowners can be really expensive, especially for larger homes with, stables, and things like that. It can also be very expensive to insure a home which is in the vicinity of a major waterway, in an area with a higher earthquake risk, or some other tricky area. Homes in these types of areas are forced to pay a high premium, which can amount to thousands of dollars in the course of a year. Although the situation is what it is, you can always do something to lower the cost of your insurance. Here are some nice tips for doing just that.

  1. Keep tabs on your security system and upgrade it regularly

If you have a decent security system, your insurance will be lowered by as much as 5%. This especially goes for security systems which are directly linked to local police stations. If you want to claim your right to that discount, you have to provide proof of the fact that your security system is linked to central monitoring.

  1. Raise the deductible

If you choose a higher deductible, you will have lower annual premiums. The problem with choosing to do this is that smaller problems will have to come out of your own pocket. We had a client a few years back whose pool heater got stolen (this one, and he had problems with his company because he chose a higher deductible. Things like broken windows and leaky pipes are also going to have to be paid by the owner.

  1. If you’re construction something, plan ahead

When you’re making additional construction work on your property, think ahead and plan for your insurance. If you choose materials such as wood for frames, you will have a higher premium, because wood is highly flammable. For frames of cement or steel, your insurance will be lower. Another thing that people fail to account for is the insurance cost accompanied with building swimming pools (with pool heaters), and other things that could potentially cause harm, such as trampolines. These types of things can drive up your insurance by more than 10%. Although most people would opt to build them nonetheless, since they are a great and fun thing to have at your home, you have to be aware of the costs associated.

  1. Make regular reviews of your policy

You should take you time to review you policy at least once a year, and compare it to other policies to make sure you’re not paying too much. You will be amazed at how much you can save with this simple step.

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The Importance of Personal Property Protection

Feb 19, 15 The Importance of Personal Property Protection

Many homeowners have the wisdom to maintain a homeowner’s insurance policy to protect their dwelling (and usually all of the property kept within that dwelling). Really, why spend hundreds of thousands of dollars on a piece of land and the house built upon it if you won’t pay a meager monthly amount to insure the whole lot? It’s just silly to think some people own homes but don’t have them insured, but what’s even worse is that some people try to do the right thing and end up with a policy that falls short of their expectations. When you’re shopping for a policy, look for the following points.

Does the policy offer personal property protection? This is a given with some insurance companies, but others will leave this coverage off their standard policies to advertise lower premiums and rates, hoping to sell a few more policies by doing so. Insurance is not a complicated or tricky game – everything about your policy is outlined in writing before you sign a thing, so you only have yourself to blame if you land some lackluster insurance. If you cooked for a living, you would insure everything you used, right down to your meat grinder, right? The items you own are worth keeping covered if they were worth buying.

very good house i wish i hadSecond, what natural (and unnatural) disasters does your policy cover? Some homeowner’s policies come with fire and flood protection inherent, but this isn’t always the case. Again, you’ll want to read the terms and conditions through completely, maybe even multiple times, so you understand exactly what kind of coverage it is you’re purchasing. Flooding from a river rising might be covered when flooding from torrential rains is not – it’s up to you to figure out what’s what. At the end of the day though, if your policy doesn’t adequately cover your property, consider upgrading it or using a different vendor.

Third, does your policy take into account the exact values of the items being insured? You may think it does, but unless you’ve got a big box full of receipts for everything you’ve purchased, or you’ve given very specific amounts to be insured for every single item you own, your policy probably isn’t as good as it could be. Again, going back to meat grinders, if you have this LEM machine which averages around $600 new, then you’d want to make sure you were insuring it for the right amount – not more and not less.

Personal property protection is a major reason to get homeowner’s insurance. Sure, you’ll want it in case your home burns down or gets flooded out, but besides the home itself, everything you own which is in the home will also get trashed by these disasters. On a final note, be sure to remove any provisions for insurance you obviously don’t need; like flood insurance if you live in Arizona, or earthquake insurance if you live in Wisconsin or another place where earthquakes are incredibly rare. Protecting your property is important, but don’t waste money on protection you’ll never need.

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Intro to Insurance

There are so many insurance companies and policies which are committed to ensure full or partial financial compensation for the loss or damaged caused by accident or event.  Question may arise which one is the best for getting that opportunity. To select the right insurance policy isn’t easy but very complicated.

This information oriented website developed for general people is to provide you details of various insurances and their products.  From here you can easily get the way of how to purchase, how to manage or maintain insurance policies. This website can also assure you of not associated with any insurance company but give you much more information for selecting the best and auspicious insurance policy. This is because it is worth saying that our website is unbiased, neutral and only for general people who are concern of selecting insurance policy.

The information on this site is arranged and collected through much more research and hard work of our devoted team. Bellow are listed major types of insurance that are available to you:

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Home insurance, known as property insurance, is one of the insurance policies and it is designed to provide coverage in case of any damage caused by any unpredictable reasons to your property’s structure and possession. Home insurance is a legal agreement between insurance company and its client.  As an insurance policy, home insurance combines individual’s insurance protections including loss of home damage, loss of use and loss of other personal possessions of the homeowner. So it can be said that home insurance is committed to provide coverage in the event of any losses occurring to your home. It is also a policy of multi-line insurance which includes both property insurance and liability insurance.

The first Home insurance in USA is introduced in September 1950, but other similar insurance policies were existed in Britain and in the areas of USA. From the first, homeowner’s insurance is to provide the same coverage assurance of the people who are in need of repairing or replacing their house or possession in the event of damage or loss of home or home necessaries.

The coverage of home insurance depends on what it would cost to repair or replace the house and which additional riders are attached to the policy. This home insurance contract is committed on the basis of a definite time or a fixed period of time.  Clients are committed to make payment to the insurance company, which is called premium. It can be term wise as it is very important to meet deadlines. As a result every client or insurer must pay the premium each term.

If your home appears less likely it will be damaged, then the insurance company can charge lower premium but it has also opposite action; for example, if your house is beside fire station, then it can be risky to be damaged. So it is worth saying that a safe area of your house can make lower your premium.

To get assurance of safety of the property, most mortgage companies need homeowners to have sufficient coverage through home insurance policy.

Ultimately insurance company would like to take care of client’s concern in need of their demand. In addition, there are some property insurance policies which include your garden in items of coverage policy.

Finally, if you are homeowner, then you should have a home insurance policy by considering all laws of it, so that you can meet your coverage in the event of any unexpected damage or loss.

photo credit: Mambo’Dan

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