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As times change, so do insurance needs. In an ongoing effort to keep our clients informed, we’ll be contacting you with newsworthy items from time to time. If you would like additional information, feel free to give us a call! If you use email, we would like to know your email address so contact can also be made electronically . Please give us a call or contact us by email with this information: marleneg@wooldridgeinsurance.com. Feel free to visit our website at: www.wooldridgeinsurance.com!
Computers / Laptops :
Like so many people, you may own a personal computer or laptop, a printer, and other peripherals. In addition, since much of this is portable, it brings about various complications with insurance coverage, particularly when the equipment is used for business purposes .
If you own a personal computer or laptop, it's important that you review your homeowners coverage. This equipment is generally considered contents coverage, but there are limitations. Generally, the only way to cover computer/laptops and their equipment for damage caused by spills, dropping, etc., would be to schedule them specifically on the policy. Costs vary by company, but are usually very reasonable. Please call and let us know what equipment you own, whether or not it's portable, and how it’s used. Then we'll discuss the coverage limitations and possible solutions.
Household changes/ additions, business use :
Remember that it is necessary to report any household changes which occur such as home improvement, a business in the home or any contents or equipment used for business, any additional equipment or belongings that require additional insurance in order to keep your policy and its values up to date. Again, laptops are of particular concern when used for business, so be sure to advise if this applies to you.
Children away at school :
If you have children away at school, it’s important to give us a call about coverage for their belongings in the dorm or apartment. If they have a laptop or computer at school, it’s best to schedule the computer equipment specifically to prevent any gaps in coverage. We’ll need to discuss your particular policy, and what coverage may or may not apply in your situation. Also let us know if they have a car with them at school so we can get the proper rate. You may find that the rate for Sioux City is much higher than it is elsewhere!
Flood Insurance :
Were you aware that Flood Insurance is not a part of your homeowners policy? This is a separate policy contract. If you are interested in flood insurance, give us a call.
Jewelry, furs, silver, guns, arts, electronics limitations :
As you may also be aware, most homeowners policies contain special limits of coverage with regard to jewelry, furs, silver, stamps, firearms, fine arts, electronic
equipment, etc. We can broaden the policy by scheduling these items individually on the policy with specific values. If your homeowner policy contains scheduled items, it's a good idea to review these values every few years.
If you feel any items have appreciated in value, it's important to update your schedule. For more expensive items, this may require an updated appraisal. This ensures that if a loss were to occur, claim settlement would be based on proper values. Since appraisal requirements vary by company, it's best to give us a call.
Car Insurance :
Be sure to keep ID cards in your vehicles at all times for proof of insurance. Every renewal policy you receive should also contain updated cards. Many times these are either toward the very front or back of the policy.
It is imperative that you report new drivers and new vehicles right away. Before you drive off the lot, be sure you’ve given us a call to report a new vehicle. Don’t rely on the dealer to make that call! We’d like to visit with you about what coverages you’d like to have as well as who will be driving the vehicle, etc. When you pay off a loan or lease on a vehicle, be sure to inform us of this as well so the lien holder will be removed from your policy.
Rental cars :
If you rent a vehicle, do you need to buy rental insurance from the rental agency? Does your auto policy cover a U-haul or moving van if you decide to rent one? If your vehicle is in the shop for repairs, will your auto policy cover the rental car you’re driving? Not all policies are the same, so it’s important to give us a call before you rent! We’ll look into your policy and let you know how best to proceed.
Recreational vehicle/boats :
If you own a recreational vehicle (motorhome, camper, trailer) or boat, these can oftentimes be added to your existing home or auto policy. Sometimes a separate policy is required or just provides the best coverage, (i.e., motorcycles). If you already have watercraft coverage in place, it’s important that you let us know if you plan to navigate in other than inland waters. There may be a restriction on the Great Lakes and coastal areas. Most of our insureds stay within the local region and are not affected by this restriction. In addition, if you plan to transport your boat across state lines, it’s a good idea to check with the individual state regarding length or width restrictions, etc.
Household help :
Do you employ help inside or outside of the home? A cleaning lady, or yard person, perhaps? If so, the homeowners policy may or may not respond. If you hire an established business to help around the home, such as a cleaning service or lawn care business, it’s important to ask for a “Certificate of Insurance” to include Workmen’s Compensation Coverage for their employees. If you hire an individual, in most cases they have no coverage of their own. State Laws determine whether or not the homeowner is responsible for their injuries if they are hurt on your premises. Your homeowner policy may provide some protection, depending on the salary you pay. If you have an employee and have concerns, we can help!
New coverage available – Identity theft . You can protect yourself against unauthorized use of your credit/identity. If you’re interested, give us a call.
We look forward to your call…. See you next newsletter!