Selective Insurance Social
  • Business
  • Auto
  • Home
  • Digital Toolbox
    • LinkedIn Best Practices
  • Flood
    • Hurricane Preparedness
  • Infographics
  • Prep Guides
    • Coronavirus Information
    • Spring Maintenance Guide
    • Fire Prevention & Safety
    • Winter Preparation For Your Home
    • Winter Preparation For Your Business
    • Winter Preparation For Your Vehicle
    • Hurricane Preparation

For Insurance Awareness Day, Assess the State of Your Coverage

6/28/2017

 
For Insurance Awareness Day, Assess the State of Your Coverage
June 28 is Insurance Awareness Day, according to the National Day Calendar, a blog that details the traditions connected to more than 1,200 holidays. The day provides an opportunity for you to take some time to think about what is valuable to you. Are they protecting yourself, your family, and your businesses thoroughly as you can?

Is your coverage broad enough? 
This question applies to all forms of insurance, such as homeowners, renters, auto or business insurance: Do you have a standard policy or expanded coverage? The primary difference between the two is one of scope. According to the Insurance Information Institute (I.I.I.), standard homeowners policies, for instance, cover structural damage to one's home, loss or destruction of personal belongings, injury liability, and additional living expenses.

Certain types of natural disasters, like earthquakes and floods, aren't covered. To guard against flood or earthquake damages, you need to purchase a separate policy or add an endorsement to an existing policy.

Do you have enough coverage?
It’s vital not only to get a policy that covers your risks. You also need to have the appropriate amount of coverage. For instance, a key issue is having the right insurance limits for your home. Many factors determine the cost of rebuilding your home, should you have a claim. One key factor in the level of homeowners coverage you need is your home's square footage. Multiplying that number by the cost per foot of local home building, according to the I.I.I., is a good place to start. But what if you recently put an addition on your home and this factor changed? Simply consult with an independent agent to see if your renovations require more/additional protection. Your agent also can be helpful in helping you address other needs and issues related to your insurance protection.

Comments are closed.

    Categories

    All
    Auto
    Business
    Flood
    Home

Picture
© 2020 Selective Insurance Group, Inc.
User Agreement
​Community Guidelines
​
AdChoices
CCPA Request 
Privacy
Contact
Visit our main web site at: selective.com or follow us:

© 2020 Selective Ins. Group, Inc., Branchville, NJ. Products vary by jurisdiction, terms, and conditions and are provided by Selective Ins. Co. of America and its insurer affiliates.
Details at selective.com/about/affiliated-insurers.aspx
Picture
Picture
  • Business
  • Auto
  • Home
  • Digital Toolbox
    • LinkedIn Best Practices
  • Flood
    • Hurricane Preparedness
  • Infographics
  • Prep Guides
    • Coronavirus Information
    • Spring Maintenance Guide
    • Fire Prevention & Safety
    • Winter Preparation For Your Home
    • Winter Preparation For Your Business
    • Winter Preparation For Your Vehicle
    • Hurricane Preparation