Catastrophes of the Court
How much does your policy cover?
Depending on the level of coverage you’ve purchased, ERIE’s homeowners insurance can help cover legal costs if you’re taken to court—for instance, if someone slips and falls in your driveway and blames you. But how much your policy will cover is limited to the amount stated in your policy. It may not be enough if the case doesn’t end in your favor.
To make sure you have adequate coverage, even for catastrophes of the court, consider purchasing a Personal Catastrophe Liability (PCL) policy, more commonly known as an umbrella policy.
The benefit of ERIE’s Mastercover Policy is that it offers a higher level of financial security in case you are sued for an accident.
These policies are highly important in this litigious age of multi-million dollar lawsuits. Insurance experts and financial planners say umbrella policies, or personal liability coverage, should be standard practice. Yet studies show that fewer than 15 percent of Americans purchase umbrella policies, which typically have annual premiums under $200 a year for $1 million or more in coverage. If you’re one who hasn’t purchased an umbrella yet and you’d like to, give us a call. We can help! 317-534-5202 Brookson Insurance LLC or http://www.brooksoninsurance.com/
Keeping you protected from A to Z
Brookson Insurance LLC
Heather Swank
Owner / Agent
317-534-5202
Tuesday, March 29, 2011
Monday, March 21, 2011
What is or is NOT covered???
The age old question what does this policy really cover? Last week we delved into the issue of Flood which is never covered on a standard homeowners policy. Let's talk sewer & drain, sump pump failure coverage. This is for sure another way water enters the home is it covered? The answer is a resounding NO it is not! Especially if you have a basement and do not have this endorsement go out and add it tomorrow!
Water the enters the home through a sewer, drain, or from a sump is not covered. Think about what you have in your home not just the building, but the personal property that could be damaged. Now, think about our rain as of late? It is a scary proposition to be without this coverage. Have you had water from a sewer back up in your home? A sump pump in your home that could fail, will likely fail at some point? Then you should have this coverage. All of the resulting damage is not covered under your standard homeowners policy.
Earthquake yes that is another one NOT COVERED. Most earthquake coverage carriers a very large deductible 2% Or 5% or more. That is of your building coverage so whatever % deductible you have is based off of your "dwelling" value. Your normal policy deductible does not apply. Most earthquake damage is however very costly indeed. Makes sense the earth moves and the foundation can crack, walls, the house can shift. For this reason it is considered catastrophic insurance because it can cause catastrophic loss. Same with flood, or sewer and drain back up, and sump pump failure. Those coverage's that can cause catastrophic loss must be added to the policy.
Make sure when you are quoting your product, or when it comes up for renewal you are asking questions about vital insurance you need. And if suggestions are not being provided or offered then switch it is time.
We can keep you informed on new coverage's and vital endorsements that may affect your valued coverage's. Brookson Insurance we really do business better because of you.
Have a safe and wonderful week!
Heather Swank
Owner / Agent
Brookson Insurance LLC
www.brooksoninsurance.com
Heather@brooksoninsurance.com
Water the enters the home through a sewer, drain, or from a sump is not covered. Think about what you have in your home not just the building, but the personal property that could be damaged. Now, think about our rain as of late? It is a scary proposition to be without this coverage. Have you had water from a sewer back up in your home? A sump pump in your home that could fail, will likely fail at some point? Then you should have this coverage. All of the resulting damage is not covered under your standard homeowners policy.
Earthquake yes that is another one NOT COVERED. Most earthquake coverage carriers a very large deductible 2% Or 5% or more. That is of your building coverage so whatever % deductible you have is based off of your "dwelling" value. Your normal policy deductible does not apply. Most earthquake damage is however very costly indeed. Makes sense the earth moves and the foundation can crack, walls, the house can shift. For this reason it is considered catastrophic insurance because it can cause catastrophic loss. Same with flood, or sewer and drain back up, and sump pump failure. Those coverage's that can cause catastrophic loss must be added to the policy.
Make sure when you are quoting your product, or when it comes up for renewal you are asking questions about vital insurance you need. And if suggestions are not being provided or offered then switch it is time.
We can keep you informed on new coverage's and vital endorsements that may affect your valued coverage's. Brookson Insurance we really do business better because of you.
Have a safe and wonderful week!
Heather Swank
Owner / Agent
Brookson Insurance LLC
www.brooksoninsurance.com
Heather@brooksoninsurance.com
Tuesday, March 15, 2011
Rising Waters!
Check Your Coverage Before Flood Waters Rise!
Floods can happen anywhere, anytime. They’re one of the most unpredictable catastrophes, and just a few inches of water can soak your home and sock your wallet. And, according to safety experts, your home has a greater chance of being damaged by a flood than a fire.
But, did you know that homeowners insurance policies don’t cover flood damage? Only flood insurance will cover the losses.
We can help you secure flood insurance to protect your home or business. Flood coverage options are available to you through:
• Erie Insurance, which has partnered with American Bankers Insurance Company. American Bankers is one of the top flood carriers in the country. They have consistently received an excellent rating for financial strength from A.M. Best credit rating organization.
• The Federal Emergency Management Agency’s National Flood Insurance Program. The NFIP offers flood insurance to homeowners, renters and business owners.
It’s a good idea to start the process as soon as you can because most flood insurance policies have at least a 30-day waiting period before they take effect.
Also, premium costs for residential properties vary depending on coverage, which is available for your building, contents or both. Our agency can help you determine the flood risk level for your home and property and advise you on the appropriate level of insurance protection. Give us a call to learn more about adding this coverage to your insurance package.
Next week learn more about sewer, drain, and sump pump failure coverage!
http://www.brooksoninsurance.com/
Heather@brooksoninsurance.com
Have a great week!Heather Swank
Floods can happen anywhere, anytime. They’re one of the most unpredictable catastrophes, and just a few inches of water can soak your home and sock your wallet. And, according to safety experts, your home has a greater chance of being damaged by a flood than a fire.
But, did you know that homeowners insurance policies don’t cover flood damage? Only flood insurance will cover the losses.
We can help you secure flood insurance to protect your home or business. Flood coverage options are available to you through:
• Erie Insurance, which has partnered with American Bankers Insurance Company. American Bankers is one of the top flood carriers in the country. They have consistently received an excellent rating for financial strength from A.M. Best credit rating organization.
• The Federal Emergency Management Agency’s National Flood Insurance Program. The NFIP offers flood insurance to homeowners, renters and business owners.
It’s a good idea to start the process as soon as you can because most flood insurance policies have at least a 30-day waiting period before they take effect.
Also, premium costs for residential properties vary depending on coverage, which is available for your building, contents or both. Our agency can help you determine the flood risk level for your home and property and advise you on the appropriate level of insurance protection. Give us a call to learn more about adding this coverage to your insurance package.
Next week learn more about sewer, drain, and sump pump failure coverage!
http://www.brooksoninsurance.com/
Heather@brooksoninsurance.com
Have a great week!Heather Swank
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