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When you purchased your home, you likely purchased homeowners insurance at the same time; and if you are like most homeowners, you have not thought about it since. Here are some questions to discuss with your independent insurance agent to make sure your policy fits your current needs. 

Let’s take a quick look at the contents of your home. Have you added a big-ticket item that may need to be listed separately in your policy? Do you have documentation and/or photos of the large ticket items in your home in case you ever need to replace them? Discussing and documenting big-ticket items before a crisis happens will make filing a claim much less stressful, should the need ever arise.  

Have you remodeled, added an addition or upgraded? Did you add any outdoor structures such as a new garage, gazebo, hot tub or garden shed that need to be added to the policy? What are the limits on your policy and do they now cover the cost to rebuild? A remodel or addition to your home can significantly impact the value and cost to rebuild the structure. Significant changes to your home should be discussed with your agent so your policy is not underinsuring your needs.  

If you do need to file a claim, what is your deductible? Does your deductible need to be raised or lowered? Be sure to check with your mortgage company before raising your deductible. Many mortgage companies have a limit on how high your insurance deductible can be. 

If you have an emergency, who would you call? In an emergency, people do not always have the wherewithal to remember who to call. Consider adding your insurance emergency number to your phone’s contact list. Hopefully you will never need it but if you do, it will be readily available.  

Is there a multiple line discount available if you add your vehicle or life insurance? Have you added a home security or home monitoring system? Is there a discount for that? There are many discounts that you may want to ask your agent about. 

The best time to review your insurance needs is before you need to use your coverage. No one likes finding out that their insurance policy was not a good fit in a stressful situation. By taking a few minutes to review your current insurance needs, you can mitigate future headaches.  

We’re happy to assist you. Call Jordan Insurance Services & Associates at 708-687-9700 for more information on home insurance. 

Do you live in a state that experiences thunderstorms, tornadoes or hurricanes? The answer is probably yes! Most of us experience at least one type of these storms.  

Why is that important? Because storms typically include high winds, which can cause roof damage. In fact, the Insurance Institute for Business and Home Safety tells us that almost 95 percent of high wind property losses include roof damage. 

Ok, but since most homeowners insurance covers roof damage, what’s the big deal? The big deal is not just knowing you are covered, but being proactive and being sure your house can handle high winds. Being proactive will help you avoid multiple claims, and will help you feel safer during a storm. 

What do we mean by being proactive? 

1. Find out what type of shingles you have on your roof. If you have low grade shingles, the next time your roof is replaced, negotiate with the roofer and get an upgrade. 

2. Have a roofer inspect your roof and nail down any loose shingles. This won’t cost you much and could save you thousands of dollars in roof damage. This will also save you from having shingles blow off during a storm and possibly causing water damage to your home. 

3. Have a roofer inspect any vents on the roof. Be sure the boots are snug and secure. If not, have the roofer replace or fix the vents so you don’t have water damage during a storm.  

4. Check the trees around your property and be sure there aren’t limbs that lift shingles off the roof or dead limbs that can potentially land on the roof and damage it. Have those limbs removed before the next storm to avoid roof damage. 

If you would like more tips, please contact us. We’d love to help. 

Keep your home and family safe. Call Jordan Insurance Services & Associates at 708-687-9700 for more information on windstorm insurance.  

Severe weather can strike any community, and it might do a lot of damage to an area in a short time. If your business is one of the impacted properties, then you might face a big financial burden as you work to repair the damage. As a result, you might want your business owners policy (BOP) to cover the necessary repairs.  

While your BOP can offer property insurance to cover damage done by storms, it’s important to understand the terms and conditions attached to this benefit. Here’s how it works.

Storm Damage  

Because storm damage is often unexpected and unpreventable, your BOP’s property coverage will pay for the necessary repairs or replacements. After all, severe storms, though predictable, are always going to differ in intensity. They might arise very quickly, and you might have little time to prepare for them. Therefore, the extent of property damage is often a game of chance.  

As a result, your BOP should offer appropriate coverage to pay for damage to both structures owned by the business and items housed within them. Still, it’s important to understand when coverage will apply to equipment damaged due to the storm.  

Equipment damage is not uncommon when storms strike. Physical damage might occur if the structure sustains damage during the storm and the equipment inside gets damaged. Damage might also occur if lightning strikes your business, causing a power surge or massive fire. Under the circumstances, since the storm triggered the damage, your policy will cover you.   

However, were the damage to arise from normal wear & tear or neglect, then your policy won’t cover you. Sometimes, if you have equipment that was particularly neglected, and the storm simply caused existing damage to get worse, then your insurer might not cover the damage.  

Filing a Claim for Property Damage  

After your business sustains property damage, immediately contact your insurer. Property damage claims often skyrocket in communities impacted by storm damage. Therefore, the earlier you submit your claim, the more likely you are to have an easy settlement process.  

Until instructed by your insurer, avoid cleaning up damage unless you have damage that is a clear and present danger to the rest of your property or to other people. In some cases, your insurer will send a claims adjuster to your location to document the extent of the damage. In others, you might be asked to submit photos and/or written documentation to support your claim yourself.   

Either way, you will have to provide evidence to support both the extent of the equipment damage, and the value lost. This will help the insurer determine whether they will pay to repair the damage, or to replace damaged items altogether.  

Be sure your policy always represents the true value of the equipment you wish to insure. It can make a big difference in the long term when it comes to protecting your business operations.