Let's face it, the reason we buy insurance is to protect our financial assets and resources. For Most of us, our home represents our single largest asset. Generally speaking few people have any idea how much their policy will pay in the event of loss.
To complicate matters, during the past few years some insurance carriers have been changing the coverage's in their policies in order to reduce the risk of financial loss to the insurance company. This affects you in many ways. It restricts the underwriting process where insurance companies are more restrictive in what they will write at attractive rates.
Things have gotten so tough for some insurance companies they will not write any new business unless they lose one of their existing customers. Some insurance carriers will not write raised homes, or homes any where in a wind zone Some policies now have a separate and higher deductibles for Windstorm or Hurricanes. Some policies subtract depreciation (paying Actual Cash Value instead of Replacement Cost) for damage done to roofs.
Do you know how much your policy will pay for loss to your personal computer, your camera's, guns, silverware, jewelry, or furs. What about loss to your fine arts and antiques. Does your policy cover you for libel or slander, if not can it be endorsed to provide this coverage?
For more information on these services send us an
e-mail
or call us
Richard O. Collins, CIC, CRM, AAI
504-525-9901
La. License # 114927