Did You Know
How to prepare your home and property for a hurricane?
Even if you're new to the area, you know Florida is prone to hurricanes. Knowing that hurricane season is July through November gives you plenty of time to prepare for the likely hurricanes that will hit the area.
While you can't stop a hurricane, you can mitigate your potential losses proactively through preparation. From an insurance point of view, that means making sure your home, personal property, and business (if you own one) are adequately insured ahead of time. Remember, you are required to insure your home for the value of its replacement cost. In addition to keeping your insurance up to date, considering making an inventory list of your personal possessions and valuables.
With insurance matters taken care of, you can take additional preventive
steps when a hurricane appears likely. For example, know where and how
to shut off your gas and electricity. Prepare an evacuation plan and relocation
strategy. Have your car ready to go in case you must leave quickly. Keep
a supply of nonperishable food on hand plus an emergency water supply.
Have essential drugs and first aid materials handy. Also, make sure you
have extra batteries for radios, flashlights, and other helpful equipment.
And, have hammers, nails, boards, and other building materials to secure
windows and other structures.
Why you need uninsured/underinsured motorist coverage
and whether or not you have it?
Even if you have automobile insurance and are adequately protected, others might not have insurance. While auto insurance is mandatory in most every state, many do not purchase it (in Colorado, for example, one-third of the drivers are uninsured). That's why you should consider having uninsured/underinsured (UM/UIM) motorist coverage. UM/UIM coverage pays for your injuries if you are in an accident where the other driver is at fault but does not have auto insurance. UM/UIM is not required in Florida, but if you don't have this coverage, your only ion is to pursue the uninsured at-fault driver in court, which will be inconvenient and may yield less-than-adequate results.
If you have UM/UIM insurance, you probably know you have it. The coverage is itemized in your insurance documents. If you are in doubt about the coverage or need more information and advice about adding it to your auto policy, please contact our Gateway insurance professionals.
That many home-based businesses are under-insured?
Home-based businesses are booming. Unfortunately, many home-based businesses are under-insured. In fact, a study conducted by the Independent Insurance Agents of America found that about 60% of home-based businesses are not properly insured. What's more, 44% of home-based business owners did not purchase business insurance because they mistakenly thought they were covered by other insurance, such as a homeowners policy.
While not on a scale as larger businesses, many home-based businesses have similar needs to insure business equipment and furnishings, records, data, and software, business autos, and various liability that is often beyond the coverage limits of a homeowners policy.
Typically, home-based business owners have three general ions for protecting themselves: 1) endorsements to an existing homeowners policy; 2) a home office or in-home business policy; or 3) a business owners policy (BOP). Because coverages, limits, inclusions, and details vary, the guidance of an insurance professional can be beneficial in helping you understand your needs and making an appropriate decision. If you operate a home-based business, Gateway would like to help you make sure that you are properly insured.