(1684,1,'2021-06-10 00:47:43','2021-06-10 00:47:43','<!-- wp:image {\"id\":1686,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/06/My-Post-15-1024x536.png\" alt=\"\" class=\"wp-image-1686\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>This year saw an incredible shift in the day-to-day operations of the world. Offices shuttered, daily commutes ended, and we tried to do it all—from schooling to working out to therapy to vacations—in our homes. According to a study, 36.2 million Americans (22% of the workforce) will be working remotely by 2025, which is an 87% increase from the number of remote workers prior to the pandemic. It’s no wonder that how we’re thinking about renovation projects has likely changed from previous years. So we reached out to those in the world of decorating, landscape design, and home improvement for the scoop on what they think the big trends will be for 2021 reno projects.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Giving rooms a new life</strong><br>“Entertainment and recreational room design help requests have, as of recently, begun to supersede family room makeovers, which were the leading trend for the past eight to nine months,” says Devin Shaffer, lead interior designer at Decorilla Online Interior Design. “The pandemic continues to teach us new ways to maximize the uses of the space that we’re spending time in. Because of this, many homeowners have maxed out the design opportunities for the most commonly used rooms in their homes and are now seeking expert advice on what rooms or areas in their home can take on a new life. Basement remodel projects are a great way to create a recreational room, and they have been in high demand over the last quarter of the year. We expect this to trend more and more over the next year.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The most fun requests Devin is seeing: in-home theaters, indoor bowling lanes, full home bars, indoor golf simulators, and climbing walls. “It\'s been really interesting to see designers and clients get creative with out-of-the-box alternatives to basements with garage-to–home-gym conversions, guest bedrooms–to–at-home arcade rooms, and the latest is a home library–to–Lego-collection showroom.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Focusing on work-from-home sanctuaries</strong><br>“With more and more workers taking up remote positions in a post-COVID world, I think we are going to see an even larger increase in demand for live/work-space renovation, whether that’s the transformation of current bedrooms and bonus spaces into offices or the addition of purpose-built home-office structures to empty land,” says Christian Adams, CEO and cofounder at Repair Pricer. “The focus will be on creating functional spaces that can double for both [live/work] purposes, such as built-in furniture that can be hidden away or used for work and storage, or improving sound insulation in existing walls and areas to create a calm environment for work.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“People will spend more time and effort in designing a unique working space to maximize their concentration, motivation, and productivity,” says Jing Xue, COO and cofounder of DecorMatters. “Things like location, colors, decorations, and furniture have a big effect on your mental and physical state. In fact, bright lighting has been shown to make people happier, ambient sounds help people focus, and poor air quality can lead to a drop in productivity.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Making room for multigenerational households</strong><br>“One trend I have seen emerging in major markets that has even been picked up on by large tract builders such as Lennar, is the creation of purpose-built multigenerational homes with essentially two separate homes under one roof,” says Christian. “This is not just down to the shifting dynamic among families but also because of the ability for homeowners to monetize the extra space for long-term rentals or even Airbnb-style short-term leasing.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We\'ve already had our eyes opened to the power of ADUs and backyard casitas but prepare for an ever-growing landscape of modular solutions that, Christian adds, “will come ready to assemble, allowing for renovators to offer a complete turnkey solution for customers where they can literally pick a tiny home from a catalog and have it constructed on site in record time. This also removes the need for large-scale ongoing construction disrupting an often already chaotic home environment where space and privacy is already in short supply.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Incorporating green solutions</strong><br>“Now that the Electoral College has confirmed Joe Biden as the next president, I think we will see a return to green initiatives that were sorely lacking under the previous government. Whether it’s the addition of larger systems like solar power or rainwater harvesting to existing homes or simpler incentives for property owners to undertake insulation and HVAC upgrades, this new initiative will bring a boon of work for both the commercial and residential renovation industries,” says Christian. “At Repair Pricer we have already seen an increase in the prevalence of these types of additions and upgrades, and with potential new tax incentives for green renovation we would expect that trend to continue well into 2021 and beyond.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Extending the indoors into the outdoors</strong><br>“Creating a comfortable outdoor living space that is an extension of your indoors will continue to be popular with 2021 home renovations, and not just in the warmer climates,” says Blythe Yost, lead designer and cofounder of landscape design company Tilly. “Designing so that there is a natural flow between the indoors and outdoors with features like large sliding or folding glass doors allow for the option to let the outside in, and vice versa. Drop-down screens on the porch to help with mosquitos, outdoor heating lamps, outdoor fire places that create warmth, and cozy couches will extend your relaxation into the cooler months.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Creating bathroom oases</strong><br>How often have you escaped to your bathroom this year with the sole purpose of quiet alone time? The experts at Houzz have the same idea, saying that with the right features, a bathroom can help reduce stress. According to a 2020 Houzz Bathroom Trends Study, two in five homeowners (41%) who renovated a master bathroom say they rely on their new space for rest and relaxation. It’s time to start saving up for renos as big as soaking tubs and steam showers, to smaller upgrades like aromatherapy shower heads and bathtub fillers that can hold a cup of tea or glass of wine.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Getting bigger with tiles</strong><br>Since we’re spending all our time at home, making visual upgrades is a big part of the home reno trends. Large-format tile can help visually expand a small space, according to the professionals on Houzz, so their use is on the rise. Another bonus of the trend: Fewer grout lines means less cleaning and less visual clutter. “We’re seeing large tiles used in a variety of classic patterns, such as herringbone, stacked, and brick,” says Houzz senior editor Mitchell Parker. He recommends if you’re considering large rectangle tiles for an area like the bathroom floor, go with a matte finish, which provides some slip resistance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.architecturaldigest.com/story/renovation-trends-2021?fbclid=IwAR3WVCvGLD3JifwTfHveg7Ol1ovQjgwK4k0CXctu49O2UZd6Ye33McgRHE4\">click here</a>.</p>\n<!-- /wp:paragraph -->','7 Renovation Trends to Look Out For in 2021','','publish','open','open','','7-renovation-trends-to-look-out-for-in-2021','','','2021-06-10 00:50:44','2021-06-10 00:50:44','',0,'http://smartinsurance.tips/?p=1684',0,'post','',0),(1685,1,'2021-06-10 00:47:43','2021-06-10 00:47:43','<!-- wp:divi/placeholder /-->','7 Renovation Trends to Look Out For in 2021','','inherit','closed','closed','','1684-revision-v1','','','2021-06-10 00:47:43','2021-06-10 00:47:43','',1684,'http://smartinsurance.tips/?p=1685',0,'revision','',0),(1686,1,'2021-06-10 00:48:34','2021-06-10 00:48:34','','My-Post-15','','inherit','open','closed','','my-post-15-2','','','2021-06-10 00:48:34','2021-06-10 00:48:34','',1684,'http://smartinsurance.tips/wp-content/uploads/2021/06/My-Post-15.png',0,'attachment','image/png',0),(1683,1,'2021-06-10 00:47:11','2021-06-10 00:47:11','<!-- wp:gallery {\"ids\":[1682],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/06/My-Post-14-1024x536.png\" alt=\"\" data-id=\"1682\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/06/My-Post-14.png\" data-link=\"http://smartinsurance.tips/new-home-construction-in-mira-mesa-sparks-massive-interest/my-post-14-2/\" class=\"wp-image-1682\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>More than 14,000 people have expressed interest in the first 200 homes of the 1,800-unit 3Roots development.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>SAN DIEGO — Construction is well underway into the first phase of the 3Roots project in Mira Mesa. Once complete, the new community will boast modern amenities to serve the 1,800 new homes and acres of new park spaces.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The first 200 homes will begin presale next month and have spurred the interest of more than 14,000 people.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“A year from now you’ll look at this and a lot of the landscaping will be in, the streets will be in, we’ll actually have closings by the end of this year with families moving and starting their lives with 3Roots, which we’re very, very excited about,” said Robby Thorne, CEO of California West Communities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>3Roots is the product of three building companies, California West, Shea Homes and Lennar, that have taken on the project to turn the former mining operation into a community.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The basis for the project began in 1994 when a community plan for the area was approved. Mining ended two decades later and then the builders won the regulatory approval for their plan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“There are 10 different model sites under construction right now and the phases start for each product line in the next 30 days or so,” said Thorne. “This is really a mechanical ballet. When you see all this equipment and the hundreds and even thousands of people working on this.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>3Roots will feature about 1,200 owner-occupied homes, 450 apartments and 180 affordable homes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Demand for the homes, located north of Carroll Canyon Road and east of Camino Santa Fe, is being driven by its proximity to San Diego County’s biggest employers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“Probably 20 of the top 30 companies are within a six- or seven-mile radius of where we’re standing right now,” said Thorne.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Construction on 3Roots will take about five years.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“We look forward to what the future holds. Right now, our focus is on 3Roots and all of the excitement that’s building,” said Thorne. “At the end of the day, this is an economic venture for all of us but it’s also something that we love to do as it relates to providing housing for families.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.cbs8.com/article/news/local/new-home-construction-in-mira-mesa-sparks-massive-interest/509-9e7ffca2-f319-4a46-89e5-2720addbaafc?fbclid=IwAR3jRGoxNDJ2Yk41A0cu95BQtEK-xGq_t8SPyPQkif_kE9WSxPswL89M4aE\">click here</a>.</p>\n<!-- /wp:paragraph -->','New home construction in Mira Mesa sparks massive interest','','inherit','closed','closed','','1679-revision-v1','','','2021-06-10 00:47:11','2021-06-10 00:47:11','',1679,'http://smartinsurance.tips/?p=1683',0,'revision','',0),(1677,1,'2021-06-10 00:41:18','2021-06-10 00:41:18','','My-Post-13','','inherit','open','closed','','my-post-13-2','','','2021-06-10 00:41:18','2021-06-10 00:41:18','',1672,'http://smartinsurance.tips/wp-content/uploads/2021/06/My-Post-13.png',0,'attachment','image/png',0),(1679,1,'2021-06-10 00:44:50','2021-06-10 00:44:50','<!-- wp:gallery {\"ids\":[1682],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/06/My-Post-14-1024x536.png\" alt=\"\" data-id=\"1682\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/06/My-Post-14.png\" data-link=\"http://smartinsurance.tips/new-home-construction-in-mira-mesa-sparks-massive-interest/my-post-14-2/\" class=\"wp-image-1682\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>More than 14,000 people have expressed interest in the first 200 homes of the 1,800-unit 3Roots development.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>SAN DIEGO — Construction is well underway into the first phase of the 3Roots project in Mira Mesa. Once complete, the new community will boast modern amenities to serve the 1,800 new homes and acres of new park spaces.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The first 200 homes will begin presale next month and have spurred the interest of more than 14,000 people.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“A year from now you’ll look at this and a lot of the landscaping will be in, the streets will be in, we’ll actually have closings by the end of this year with families moving and starting their lives with 3Roots, which we’re very, very excited about,” said Robby Thorne, CEO of California West Communities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>3Roots is the product of three building companies, California West, Shea Homes and Lennar, that have taken on the project to turn the former mining operation into a community.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The basis for the project began in 1994 when a community plan for the area was approved. Mining ended two decades later and then the builders won the regulatory approval for their plan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“There are 10 different model sites under construction right now and the phases start for each product line in the next 30 days or so,” said Thorne. “This is really a mechanical ballet. When you see all this equipment and the hundreds and even thousands of people working on this.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>3Roots will feature about 1,200 owner-occupied homes, 450 apartments and 180 affordable homes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Demand for the homes, located north of Carroll Canyon Road and east of Camino Santa Fe, is being driven by its proximity to San Diego County’s biggest employers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“Probably 20 of the top 30 companies are within a six- or seven-mile radius of where we’re standing right now,” said Thorne.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Construction on 3Roots will take about five years.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“We look forward to what the future holds. Right now, our focus is on 3Roots and all of the excitement that’s building,” said Thorne. “At the end of the day, this is an economic venture for all of us but it’s also something that we love to do as it relates to providing housing for families.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.cbs8.com/article/news/local/new-home-construction-in-mira-mesa-sparks-massive-interest/509-9e7ffca2-f319-4a46-89e5-2720addbaafc?fbclid=IwAR3jRGoxNDJ2Yk41A0cu95BQtEK-xGq_t8SPyPQkif_kE9WSxPswL89M4aE\">click here</a>.</p>\n<!-- /wp:paragraph -->','New home construction in Mira Mesa sparks massive interest','','publish','open','open','','new-home-construction-in-mira-mesa-sparks-massive-interest','','','2021-06-10 00:47:13','2021-06-10 00:47:13','',0,'http://smartinsurance.tips/?p=1679',0,'post','',0),(1671,1,'2021-06-10 00:18:36','2021-06-10 00:18:36','<!-- wp:gallery {\"ids\":[1669],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/06/My-Post-11-1024x536.png\" alt=\"\" data-id=\"1669\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/06/My-Post-11.png\" data-link=\"http://smartinsurance.tips/25-fun-free-things-to-do-in-san-diego/my-post-11/\" class=\"wp-image-1669\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading -->\n<h2>On a budget, no problem!</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Having fun in San Diego doesn\'t require a lot of money; in fact, many things to see and do are absolutely free. With 70 miles of beautiful beaches, near-perfect weather year-round, and a variety of magnificent settings countywide, San Diego offers a fun and inexpensive getaway, for kids and adults, any time of year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Browse through this list to help you plan the perfect San Diego itinerary.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol><li>Head to San Diego\'s many <strong><a href=\"https://www.sandiego.org/explore/things-to-do/beaches-bays.aspx\">beaches</a></strong> which are consistently ranked top in the nation. The beaches are all free to the public, to swim, body surf or hang-ten. Build a sandcastle, relax with a good book, or just bask in the sun – you won’t be disappointed.</li><li>Visit <strong><a href=\"https://www.sandiego.org/explore/things-to-do/beaches-bays/la-jolla.aspx\">La Jolla Cove</a></strong> and see the magnificent sunset on the ocean. La Jolla Cove is one of the most spectacular natural settings in the world and delivers a spectacular sunset display at the end of each day.</li><li>Stroll along San Diego\'s <a href=\"https://www.sandiego.org/articles/downtown/the-embarcadero-in-san-diego-ca.aspx\"><strong>Embarcadero</strong></a> for hours of free entertainment, shopping, and more. Enjoy a laid-back day of hanging out in the grass and watching the many passing yachts and ships on picturesque <strong><a href=\"https://www.sandiego.org/members/associations-organizations/port-of-san-diego.aspx\">San Diego Bay</a></strong>, or take in the sights from one of the many bay-view eateries.</li><li>Stroll through the 16½-block historic <strong><a href=\"https://www.sandiego.org/system/page-not-found?item=web%3a%7b52C3F8F4-4EBE-4ABC-BEC8-9906817B1119%7d%40en\">Gaslamp Quarter</a></strong> in downtown San Diego and view the renovated turn-of-the-century Victorian architecture, home to boutiques, art galleries, specialty shops and more.</li><li>Fly a kite along the grassy field in the Tecolote Shores of <strong><a href=\"https://www.sandiego.org/explore/coastal/mission-bay-beaches.aspx\">Mission Bay Park</a></strong>, a 4,600-acre aquatic park. Here, away from trees and overhead wires, friends and family gather to launch colorful kites into the bay breezes.</li><li>Enjoy free organ concerts at 2:00 pm on Sundays at the <strong><a href=\"https://www.sandiego.org/members/music/spreckels-organ-society.aspx\">Spreckels Organ Pavilion</a></strong> in Balboa Park. The Organ Pavilion features one of world\'s largest outdoor pipe organs, a San Diego landmark since 1914, where organists play traditional favorites, waltzes and show tunes on enormous 32-foot pipes.</li><li>Visit <strong><a href=\"https://www.sandiego.org/explore/inland-valley-mountain-desert/mission-valley-old-town.aspx\">Old Town</a></strong> and witness the living legacy of San Diego history. Guests are also invited to wander free through Old Town\'s historic buildings, including the blacksmith shop, Seeley Stables, Stewart House, Estudillo House and the oldest schoolhouse in San Diego.</li><li>Bike or jog along <strong><a href=\"https://www.sandiego.org/explore/coastal/mission-bay-beaches.aspx\">Mission Bay Park\'s</a></strong> many trails. Joggers and walkers share more than 20 miles of scenic running paths that wind through sunlight and shade near the shoreline and feature workout courses at planned stations along the route. Or, rollerblade, skateboard or bicycle along the <strong><a href=\"https://www.sandiego.org/explore/things-to-do/beaches-bays/mission-beach.aspx\">Mission Beach Boardwalk</a></strong>, a scenic 3-mile boardwalk along picturesque Mission and Pacific Beaches</li><li>Visit the <strong><a href=\"https://www.sandiego.org/members/tours-sightseeing/chula-vista-elite-athlete-training-center.aspx\">Chula Vista Elite Athlete Training Center</a></strong> (formerly the U.S. Olympic Training Center) in San Diego\'s South Bay for a free tour of the 150-acre facility, including training fields and tracks, athlete dorms and the Otay Lake Reservoir. Self-guided tours are available daily between 9:00 AM to 5:00 PM.</li><li>Take a scenic, one-hour drive to <strong>Mt. Laguna</strong>. Once there, hop out for an invigorating hike and enjoy the fresh mountain air whispering through the pines.</li><li>Step back in time with a stop in <strong><a href=\"https://www.sandiego.org/articles/east-county/julian.aspx\">Julian</a></strong>, a century-old gold mining town in the Cuyamaca Mountains. Pick up a free map at the Chamber of Commerce for a self-guided walking tour of the area\'s historic sites and later enjoy a slice of homemade apple pie - a Julian specialty!</li><li>Grab your picnic basket and head to <strong><a href=\"https://www.sandiego.org/explore/things-to-do/beaches-bays/torrey-pines.aspx\">Torrey Pines State Beach</a></strong> where you can watch talented and daring hang gliders do tricks in the strong winds that sweep along the coastline cliffs.</li><li>Explore the <strong><a href=\"https://www.sandiego.org/explore/things-to-do/road-trips/san-diegos-59-mile-scenic-drive.aspx\">59-Mile Scenic Drive</a></strong> which winds you through charming neighborhoods and along the beautiful coastline to reveal attractions and natural wonders unique to San Diego.</li><li>Visit <strong><a href=\"https://www.sandiego.org/members/parks-gardens/mission-trails-regional-park.aspx\">Mission Trails Regional Park</a></strong> to explore the cultural, historical and recreational aspects of San Diego. Stop at the Visitor\'s Center and learn about the wonders of nature and the people who once lived on the land. Or, roam through the park\'s 40 miles of natural and developed hiking and biking trails.</li><li>Go scuba diving or snorkeling off San Diego\'s shores and see spectacular creatures of the sea. <strong><a href=\"https://www.sandiego.org/explore/things-to-do/beaches-bays/la-jolla.aspx\">La Jolla Cove</a></strong> offers some of the clearest waters on the California coast, as well as miles of protected underwater preserves to explore.</li><li>Go <strong><a href=\"https://www.sandiego.org/explore/things-to-do/tours-sightseeing/bird-watching.aspx\">bird watching</a></strong> at one of the many wetland reserves including Tijuana Estuary, Sweetwater Marsh National Wildlife Refuge or the Famosa Slough in Point Loma to name a few. San Diego has more than 500 species of birds that either stop along the migration path in fall and spring, or call San Diego home year-round more than any other place in the continental United States.</li><li>The county has seasonal migrations in the fall and spring, plus over 400 species of birds call San Diego home year-round. Basically, San Diego offers great free birding.</li><li>Go hiking at <strong><a href=\"https://www.sandiego.org/articles/parks-gardens/torrey-pines-state-natural-reserve-park.aspx\">Torrey Pines State Reserve</a></strong>. Located high above Torrey Pines State Beach, cliffside hiking trails offer stunning views of the Pacific Ocean. The area is also home of the rare and ancient Torrey Pine as well as a beautiful protected habitat for swifts, thrashers, woodpeckers and wrentits. With cliffside hiking trails that feature stunning views of the Pacific Ocean.</li><li>Stroll through <strong><a href=\"https://www.sandiego.org/members/visitor-information-centers/balboa-park.aspx\">Balboa Park</a></strong> and marvel at its beautiful Spanish Colonial Revival architecture. While there, take advantage of the park\'s variety of offerings, including 17 museums (select museums free on Tuesdays for San Diego residents), free daily park tours, public organ concerts (Sundays), and spectacular gardens (seven are free daily). Stargaze outside the <strong><a href=\"https://www.sandiego.org/members/museums/fleet-science-center.aspx\">Fleet Science Center in Balboa Park</a></strong> on the first Wednesday of every month. The San Diego Astronomy Association sets up huge telescopes to offer guests a great view of all the stars in the night sky.</li><li>View 31 historical aircraft up close for free at the <a href=\"https://www.sandiego.org/system/page-not-found?item=web%3a%7bB2BA4FDD-E42E-4009-BB04-DF286E07BC15%7d%40en\"><strong>Flying Leatherneck Aviation Museum</strong></a> when it is open from Tuesdays-Sundays, 9:00 am to 3:30 pm. All programs including Open Cockpit Days and Pilot Talks are also offered without charge.</li><li>Gather family, friends and firewood for a cozy <strong>beach bonfire</strong> at one of the beaches in San Diego County, including <strong><a href=\"https://www.sandiego.org/explore/things-to-do/beaches-bays/coronado.aspx\">Coronado Beach</a></strong>, <strong><a href=\"https://www.sandiego.org/explore/things-to-do/beaches-bays/la-jolla.aspx\">La Jolla Shores</a></strong>, <strong><a href=\"https://www.sandiego.org/explore/things-to-do/beaches-bays/ocean-beach.aspx\">Ocean Beach</a></strong> and <strong><a href=\"https://www.sandiego.org/explore/things-to-do/beaches-bays/mission-beach.aspx\">Mission Beach</a></strong>.</li><li>Check out the 80+ murals of <strong><a href=\"https://www.sandiego.org/articles/parks-gardens/chicano-park.aspx\">Chicano Park</a></strong>, a National Landmark and home to the largest collection of outdoor Chicano murals.</li><li>Drive to the top of <strong><a href=\"https://www.sandiego.org/members/history-and-heritage/mt-soledad-national-veterans-memorial.aspx\">Mt. Soledad</a></strong> in La Jolla for breathtaking, 360-degree views of San Diego, including the gently curving La Jolla coastline and Mission Bay. Spectacular views of San Diego\'s East County communities also await guests at the top of <strong>Mt. Helix</strong>.</li><li>Visit the <strong><a href=\"https://www.sandiego.org/members/parks-gardens/anzaborrego-desert-state-park.aspx\">Anza-Borrego Desert State Park</a></strong> and experience the natural beauty of the desert. The 600,000-acre park is one of the largest state parks in the United States and following the winter rains each spring, explodes into a rainbow of colorful wildflower blossoms.</li><li>Take a scenic walk along <strong><a href=\"https://www.sandiego.org/members/associations-organizations/port-of-san-diego.aspx\">The Wonderfront</a></strong>, San Diego\'s \"largest attraction.\" With 27 miles of waterfront featuring bayside parks, marinas, hundreds of shops and restaurants, and miles of promenades and bikeways, the Big Bay appeals to all ages and interests.</li></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.sandiego.org/articles/25-fun-free-things-to-do-in-san-diego.aspx\">click here</a>.</p>\n<!-- /wp:paragraph -->','25 Fun & Free Things to Do in San Diego','','inherit','closed','closed','','1667-revision-v1','','','2021-06-10 00:18:36','2021-06-10 00:18:36','',1667,'http://smartinsurance.tips/?p=1671',0,'revision','',0);

INSERT INTO `smart_posts` VALUES (1916,1,'2021-09-13 21:28:59','2021-09-13 21:28:59','<!-- wp:gallery {\"ids\":[1917],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-16-1024x536.png\" alt=\"\" data-id=\"1917\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-16.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1917\" class=\"wp-image-1917\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Nine Smart Shopping Tips</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><li>Park close to your destination, in a well-lit area and lock packages in the trunk, out of sight.</li><li>Carry your purse close to your body and stow your wallet inside a zippered pocket.</li><li>Report any suspicious activity or unattended packages to store/mall security or law enforcement.</li><li>Stay vigilant this holiday season. Be aware of your surroundings: \"If You See Something, Say Something.\"</li><li>Pay by credit card, rather than check/debit card, to reduce the risk of funds being taken from your bank account. Keep all receipts and compare them to your monthly statements. Avoid being overcharged; review your receipt if you pay by debit, to ensure that the transaction is correct.</li><li>Keep your car key handy and lock your doors as soon as you get inside your vehicle.</li><li>Shop online with known businesses. Avoid shopping online through pop-up ads as they may be phishing scams or contain malware.</li><li>Conduct transactions on a secure server only; look for the padlock device on the browser’s status bar. The URL should change from http to shttp or https when asked for payment information, which indicates that the purchase is encrypted or otherwise secure.<br>   </li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>&nbsp;Eight Workplace Alerts</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><li>Report all solicitors or suspicious persons to security immediately.&nbsp;</li><li>Be suspicious of unfamiliar people claiming to be repair persons, as thieves are apt to disguise themselves.</li><li>Make sure your receptionist and/or security team clears any workers or contractors before allowing them into your office.</li><li>Question visitors who wander throughout your offices. Legitimate guests will appreciate your offers of assistance, while potential solicitors or thieves will be deterred.</li><li>Lock all personal items in a desk or file cabinet. Employees should never leave purses or wallets exposed where they can easily be stolen.</li><li>Draw blinds after hours so that computers and other valuables are not visible from the outside.</li><li>Close doors when the office is empty, and secure all valuables in a desk or closet when unattended.</li><li>Request a security or buddy escort to your car if you are working late and feel vulnerable.<br>&nbsp;&nbsp;&nbsp;</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Seven Home Safety Guides</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><li>Refresh your holiday lights; consider buying energy-efficient LED types that are cooler than conventional incandescent lights and heed indoor or outdoor use labels.</li><li>Point any decorative outdoor laser light devices at your home and not towards the sky.</li><li>Turn off lights or decorations before bedtime, or set automatic timers for six or eight-hour increments to conserve energy.</li><li>Monitor candles and fireplace fires, and extinguish them before leaving the house or bedtime.</li><li>Consider installing motion or lighting sensors that turn off automatically when no one is around.</li><li>Let strangers who knock know you are home without opening your door. Do not feel compelled to donate to solicitors.</li><li>Ask a neighbor to collect your mail or have the post office hold it, if you plan to travel for an extended period.<br>&nbsp;&nbsp;&nbsp;</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Six Basic Fire Rules</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><li>Fires peak, particularly in kitchens, during the holidays, so remain alert when preparing meals and keep potholders and food wrappers at least three feet away from heat sources.</li><li>Test your smoke alarms and carbon monoxide detectors, ensuring that they work at optimal level year-round. Replace batteries, as needed.</li><li>Know where your exits are located and hold regular fire drills that include practicing at least two evacuation routes from every area or building to your safe refuge area.</li><li>Notify the property manager about exit lights that are broken or vandalized.</li><li>Never prop open self-closing doors, as they are designed to keep flames and smoke from spreading.</li><li>Keep exits and stairways free from obstructions at all times. Don’t store things on or under stairways, or on landings.<br>&nbsp; &nbsp;</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Five More Tips and Resources</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><li>Be sure to thank security professionals and others who help keep us safe and secure.</li><li>Electrical Safety Foundation International’s Holiday Decorating Safety guide lists many resources.</li><li>The National Safety Council recommends several Holiday Safety Tips.</li><li>Be prepared for more thorough airport security checks by TSA and register for the Smart Traveler Enrollment Program before traveling abroad.</li><li>Consult the Consumer Product Safety Commission website for recalls and alerts on toys and other products before making purchases.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.aus.com/security-resources/tips-safe-and-secure-holiday\">click here.</a></p>\n<!-- /wp:paragraph -->','Tips for a Safe and Secure Holiday','','publish','closed','closed','','tips-for-a-safe-and-secure-holiday','','','2021-09-13 21:29:00','2021-09-13 21:29:00','',0,'http://smartinsurance.tips/?page_id=1916',0,'page','',0),(1917,1,'2021-09-13 21:28:13','2021-09-13 21:28:13','','My-Post-16','','inherit','open','closed','','my-post-16-5','','','2021-09-13 21:28:13','2021-09-13 21:28:13','',1916,'http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-16.png',0,'attachment','image/png',0),(1918,1,'2021-09-13 21:28:59','2021-09-13 21:28:59','<!-- wp:gallery {\"ids\":[1917],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-16-1024x536.png\" alt=\"\" data-id=\"1917\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-16.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1917\" class=\"wp-image-1917\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Nine Smart Shopping Tips</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><li>Park close to your destination, in a well-lit area and lock packages in the trunk, out of sight.</li><li>Carry your purse close to your body and stow your wallet inside a zippered pocket.</li><li>Report any suspicious activity or unattended packages to store/mall security or law enforcement.</li><li>Stay vigilant this holiday season. Be aware of your surroundings: \"If You See Something, Say Something.\"</li><li>Pay by credit card, rather than check/debit card, to reduce the risk of funds being taken from your bank account. Keep all receipts and compare them to your monthly statements. Avoid being overcharged; review your receipt if you pay by debit, to ensure that the transaction is correct.</li><li>Keep your car key handy and lock your doors as soon as you get inside your vehicle.</li><li>Shop online with known businesses. Avoid shopping online through pop-up ads as they may be phishing scams or contain malware.</li><li>Conduct transactions on a secure server only; look for the padlock device on the browser’s status bar. The URL should change from http to shttp or https when asked for payment information, which indicates that the purchase is encrypted or otherwise secure.<br>   </li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>&nbsp;Eight Workplace Alerts</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><li>Report all solicitors or suspicious persons to security immediately.&nbsp;</li><li>Be suspicious of unfamiliar people claiming to be repair persons, as thieves are apt to disguise themselves.</li><li>Make sure your receptionist and/or security team clears any workers or contractors before allowing them into your office.</li><li>Question visitors who wander throughout your offices. Legitimate guests will appreciate your offers of assistance, while potential solicitors or thieves will be deterred.</li><li>Lock all personal items in a desk or file cabinet. Employees should never leave purses or wallets exposed where they can easily be stolen.</li><li>Draw blinds after hours so that computers and other valuables are not visible from the outside.</li><li>Close doors when the office is empty, and secure all valuables in a desk or closet when unattended.</li><li>Request a security or buddy escort to your car if you are working late and feel vulnerable.<br>&nbsp;&nbsp;&nbsp;</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Seven Home Safety Guides</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><li>Refresh your holiday lights; consider buying energy-efficient LED types that are cooler than conventional incandescent lights and heed indoor or outdoor use labels.</li><li>Point any decorative outdoor laser light devices at your home and not towards the sky.</li><li>Turn off lights or decorations before bedtime, or set automatic timers for six or eight-hour increments to conserve energy.</li><li>Monitor candles and fireplace fires, and extinguish them before leaving the house or bedtime.</li><li>Consider installing motion or lighting sensors that turn off automatically when no one is around.</li><li>Let strangers who knock know you are home without opening your door. Do not feel compelled to donate to solicitors.</li><li>Ask a neighbor to collect your mail or have the post office hold it, if you plan to travel for an extended period.<br>&nbsp;&nbsp;&nbsp;</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Six Basic Fire Rules</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><li>Fires peak, particularly in kitchens, during the holidays, so remain alert when preparing meals and keep potholders and food wrappers at least three feet away from heat sources.</li><li>Test your smoke alarms and carbon monoxide detectors, ensuring that they work at optimal level year-round. Replace batteries, as needed.</li><li>Know where your exits are located and hold regular fire drills that include practicing at least two evacuation routes from every area or building to your safe refuge area.</li><li>Notify the property manager about exit lights that are broken or vandalized.</li><li>Never prop open self-closing doors, as they are designed to keep flames and smoke from spreading.</li><li>Keep exits and stairways free from obstructions at all times. Don’t store things on or under stairways, or on landings.<br>&nbsp; &nbsp;</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Five More Tips and Resources</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><li>Be sure to thank security professionals and others who help keep us safe and secure.</li><li>Electrical Safety Foundation International’s Holiday Decorating Safety guide lists many resources.</li><li>The National Safety Council recommends several Holiday Safety Tips.</li><li>Be prepared for more thorough airport security checks by TSA and register for the Smart Traveler Enrollment Program before traveling abroad.</li><li>Consult the Consumer Product Safety Commission website for recalls and alerts on toys and other products before making purchases.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.aus.com/security-resources/tips-safe-and-secure-holiday\">click here.</a></p>\n<!-- /wp:paragraph -->','Tips for a Safe and Secure Holiday','','inherit','closed','closed','','1916-revision-v1','','','2021-09-13 21:28:59','2021-09-13 21:28:59','',1916,'http://smartinsurance.tips/?p=1918',0,'revision','',0),(1919,1,'2021-09-13 21:34:22','2021-09-13 21:34:22','<!-- wp:gallery {\"ids\":[1920],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-12-1024x536.png\" alt=\"\" data-id=\"1920\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-12.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1920\" class=\"wp-image-1920\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0\">What Is Contractors\' All Risks (CAR) Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">Contractors\' all risks (CAR) insurance is a non-standard insurance policy that provides coverage for property damage and third-party injury or damage claims, the two primary types of risks on construction projects. Damage to property can include improper construction of structures, the damage that happens during a renovation, and damage to temporary work erected on-site.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-3\">Third&nbsp;parties including subcontractors may also become injured while working at the construction site.&nbsp;CAR insurance not only&nbsp;covers those associated risks but also&nbsp;bridges these two types of risks into a common policy&nbsp;designed to&nbsp;cover the gap between exclusions that would otherwise exist if&nbsp;using separate policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-5\">CAR insurance coverage is common for such construction projects as buildings, water tanks, sewage treatment plans, flyovers, and airports.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Contractors\' all risks (CAR) insurance is a non-standard insurance policy that provides coverage for property damage and third-party injury or damage claims, the two primary types of risks on construction projects.</li><li>Damage to property can include improper construction of structures, the damage that happens during a renovation and damage to temporary work erected on-site. </li><li>Third parties, including subcontractors, may also become injured while working at the construction site.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-9\">Understanding Contractors\' All Risks (CAR) Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-10\">Typically, both contractor and employer jointly take out CAR insurance policies, with other parties such as financing companies having the option of being named to the policy. Because multiple parties are included in the policy, they each retain the right to file a claim against the insurer, although all parties have the duty of informing the insurer of any injuries and damages that may result in a claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The goal of a CAR insurance policy is to ensure all parties are covered on a project, regardless of the type of damage to the property or who caused the damage. Insurers who underwrite this type of policy lose the right to subrogation, meaning that if it pays out funds to one party in the contract, it cannot seek to recover those funds from another party in the contract.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, if the owner of a large building and the contractor working on the building are on the same CAR policy, any damages to the building caused by the contractor can be recovered by the building owner when a claim is filed. The insurer, however, cannot seek to recover funds from the contractor.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: Risks often covered under a CAR policy include flood, wind, earthquakes, water damage, and mold, construction faults and negligence; they typically do not cover normal wear and tear, willful negligence or poor workmanship.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">A CAR insurance policy also provides coverage against losses or damages caused to property by&nbsp;fire.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-20\">Special Considerations</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-21\">CAR coverage may be&nbsp;extended to cover the interests of manufacturers, suppliers, contractors, and subcontractors. The policy can also be expanded to cover the following events:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-23\"><li>Additional custom duty</li><li>Air freight</li><li>Damage to surrounding property</li><li>Debris removal</li><li>Earthquake</li><li>Escalation</li><li>Loss due to breakage of glass</li><li>Maintenance visits</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-25\">Additionally, CAR policies may be designed to include losses incurred when start-up is delayed because of another insured loss. For example, if a structure is damaged and is covered by CAR insurance, then the losses incurred as a result of a delay in opening the property while the damage is being repaired may also be covered. CAR policies can also be expanded to include a provision for escalation, to cover acts of terrorism, and to cover excess third-party liability, among other less common scenarios.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/terms/c/contractors-all-risks-car-insurance.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Contractors\' All Risks (CAR) Insurance','','publish','closed','closed','','contractors-all-risks-car-insurance','','','2021-09-13 21:34:23','2021-09-13 21:34:23','',0,'http://smartinsurance.tips/?page_id=1919',0,'page','',0),(1920,1,'2021-09-13 21:32:49','2021-09-13 21:32:49','','My-Post-12','','inherit','open','closed','','my-post-12-5','','','2021-09-13 21:32:49','2021-09-13 21:32:49','',1919,'http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-12.png',0,'attachment','image/png',0),(1921,1,'2021-09-13 21:34:22','2021-09-13 21:34:22','<!-- wp:gallery {\"ids\":[1920],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-12-1024x536.png\" alt=\"\" data-id=\"1920\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-12.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1920\" class=\"wp-image-1920\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0\">What Is Contractors\' All Risks (CAR) Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">Contractors\' all risks (CAR) insurance is a non-standard insurance policy that provides coverage for property damage and third-party injury or damage claims, the two primary types of risks on construction projects. Damage to property can include improper construction of structures, the damage that happens during a renovation, and damage to temporary work erected on-site.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-3\">Third&nbsp;parties including subcontractors may also become injured while working at the construction site.&nbsp;CAR insurance not only&nbsp;covers those associated risks but also&nbsp;bridges these two types of risks into a common policy&nbsp;designed to&nbsp;cover the gap between exclusions that would otherwise exist if&nbsp;using separate policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-5\">CAR insurance coverage is common for such construction projects as buildings, water tanks, sewage treatment plans, flyovers, and airports.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Contractors\' all risks (CAR) insurance is a non-standard insurance policy that provides coverage for property damage and third-party injury or damage claims, the two primary types of risks on construction projects.</li><li>Damage to property can include improper construction of structures, the damage that happens during a renovation and damage to temporary work erected on-site. </li><li>Third parties, including subcontractors, may also become injured while working at the construction site.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-9\">Understanding Contractors\' All Risks (CAR) Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-10\">Typically, both contractor and employer jointly take out CAR insurance policies, with other parties such as financing companies having the option of being named to the policy. Because multiple parties are included in the policy, they each retain the right to file a claim against the insurer, although all parties have the duty of informing the insurer of any injuries and damages that may result in a claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The goal of a CAR insurance policy is to ensure all parties are covered on a project, regardless of the type of damage to the property or who caused the damage. Insurers who underwrite this type of policy lose the right to subrogation, meaning that if it pays out funds to one party in the contract, it cannot seek to recover those funds from another party in the contract.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, if the owner of a large building and the contractor working on the building are on the same CAR policy, any damages to the building caused by the contractor can be recovered by the building owner when a claim is filed. The insurer, however, cannot seek to recover funds from the contractor.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: Risks often covered under a CAR policy include flood, wind, earthquakes, water damage, and mold, construction faults and negligence; they typically do not cover normal wear and tear, willful negligence or poor workmanship.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">A CAR insurance policy also provides coverage against losses or damages caused to property by&nbsp;fire.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-20\">Special Considerations</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-21\">CAR coverage may be&nbsp;extended to cover the interests of manufacturers, suppliers, contractors, and subcontractors. The policy can also be expanded to cover the following events:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-23\"><li>Additional custom duty</li><li>Air freight</li><li>Damage to surrounding property</li><li>Debris removal</li><li>Earthquake</li><li>Escalation</li><li>Loss due to breakage of glass</li><li>Maintenance visits</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-25\">Additionally, CAR policies may be designed to include losses incurred when start-up is delayed because of another insured loss. For example, if a structure is damaged and is covered by CAR insurance, then the losses incurred as a result of a delay in opening the property while the damage is being repaired may also be covered. CAR policies can also be expanded to include a provision for escalation, to cover acts of terrorism, and to cover excess third-party liability, among other less common scenarios.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/terms/c/contractors-all-risks-car-insurance.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Contractors\' All Risks (CAR) Insurance','','inherit','closed','closed','','1919-revision-v1','','','2021-09-13 21:34:22','2021-09-13 21:34:22','',1919,'http://smartinsurance.tips/?p=1921',0,'revision','',0),(1950,1,'2021-10-14 20:47:07','2021-10-14 20:47:07','','My-Post','','inherit','open','closed','','my-post-29','','','2021-10-14 20:47:07','2021-10-14 20:47:07','',1949,'http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post.png',0,'attachment','image/png',0),(1923,1,'2021-09-13 22:01:57','0000-00-00 00:00:00','<!-- wp:gallery {\"ids\":[1924],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/01-butter-wallet-friendly-tips-save-christmas-shopping-53696186-LiudmylaSupynska.jpg\" alt=\"\" data-id=\"1924\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/01-butter-wallet-friendly-tips-save-christmas-shopping-53696186-LiudmylaSupynska.jpg\" data-link=\"http://smartinsurance.tips/?attachment_id=1924\" class=\"wp-image-1924\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Insurance is like a life jacket. It’s a bit of a nuisance when you don’t need it, but when you do need it, you’re more than thankful to have it. Without it, you could be one car wreck, illness or house fire away from drowning—not in the ocean, but in debt.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But for something so essential to our financial well-being, insurance is a complicated—even uncomfortable—topic. So we’ve boiled your options down to the eight types of insurance policies you can’t go without.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While each one is a must-have, you should consult an independent insurance agent to help you find the right types of insurance customized to fit your needs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Here are the eight types of insurance:</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>1. Auto Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Never drive around uninsured—not just because it’s against the law, but also because the Insurance Information Institute reports the average loss per claim on cars is around $4,900. Imagine having to pay that kind of money out of pocket! There are several options to choose from when it comes to auto insurance, so there’s no reason to go without it:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Liability coverage. If you’re responsible for an accident, your liability coverage will cover the costs of any injuries or property damage caused in the collision. Most states require you to carry a minimum amount of coverage, so check with your insurance agent to understand your basic requirement.</li><li>Collision coverage. This covers the cost to repair or replace your car if it’s damaged or destroyed in a wreck.</li><li>Comprehensive coverage. This level of insurance covers your losses that aren’t caused by a wreck such as theft, vandalism, flood, fire and hail.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Again, an insurance agent is a good resource to help you determine the level of protection you need based on the type of car you drive.</p>\n<!-- /wp:paragraph -->','8 Types of Insurance You Can\'t Go Without','','draft','closed','closed','','','','','2021-09-13 22:01:57','2021-09-13 22:01:57','',0,'http://smartinsurance.tips/?page_id=1923',0,'page','',0),(1924,1,'2021-09-13 21:59:23','2021-09-13 21:59:23','','01-butter-wallet-friendly-tips-save-christmas-shopping-53696186-LiudmylaSupynska','','inherit','open','closed','','01-butter-wallet-friendly-tips-save-christmas-shopping-53696186-liudmylasupynska','','','2021-09-13 21:59:23','2021-09-13 21:59:23','',1923,'http://smartinsurance.tips/wp-content/uploads/2021/09/01-butter-wallet-friendly-tips-save-christmas-shopping-53696186-LiudmylaSupynska.jpg',0,'attachment','image/jpeg',0),(1925,1,'2021-09-13 22:54:06','2021-09-13 22:54:06','<!-- wp:paragraph -->\n<p>Follow these tips to make sure you get your due.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":2829,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/11/Insurance-1-2.png\" alt=\"\" class=\"wp-image-2829\"/></figure>\n<!-- /wp:image --><figcaption class=\"blocks-gallery-caption\"><br></figcaption></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Once you’ve found a safe place to stay after a big storm, the hard work of restoring you home—and your life—begins. Getting your due from your homeowners insurance is a major part of that process.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Here’s how to get started.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Contact Your Insurer</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The first step is to get in touch with your insurer or the agent who sold you the homeowners insurance. Your policy requires you to make a claim in a timely manner.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Generally speaking, you can’t make a claim until you’re able to document the property damage, says Michael Barry, a spokesperson for the New York-based Insurance Information Institute, an industry organization. So if you can’t access your property, you typically will have to wait to get things rolling.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Still, it’s worth contacting the insurer to see whether it’s using drones to conduct initial damage assessments. Some insurers have been authorized by the Federal Aviation Administration to use drones that way for certain situations, Barry says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Do the Stopgap Work</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The insurer can advise you about what repairs you should make right away to make your home habitable or to prevent further damage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, if you need a plumber to close off water lines, check your state’s licensing board to find one who’s licensed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Regardless of where the plumber is from, check the Better Business Bureau from that region for complaints and other information. You also may find testimonials on local review sites for consumer services.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Even if the insurer sends you a check right away for that emergency work, you may have to pay the bill yourself first. Either way, keep receipts that you can later file with your claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Get Your Coverage Details</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When you contact your agent or insurance company, find out what’s covered in your policy. You can also probably find it on your account page on the insurer’s website.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A standard homeowners insurance policy covers damage to the home’s structure as well as personal property, minus a deductible. The amount you’re paid will depend on the kind of coverage you have. Though “replacement cost” coverage should cover the cost of repairing or replacing your home and any lost or damaged items, “actual cash value” coverage will pay you the value of your home and the damaged items inside, less depreciation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Your policy also may cover the “loss of use” of your home and additional living expenses (ALE) such as rent or hotel bills, restaurant meals, transportation, clothing, and other expenses—up to a limit—when your home becomes uninhabitable or inaccessible due to fire. If it’s accessible and habitable but you can’t go back to it due to mandatory evacuation orders, you’re covered for ALE, up to a limit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Claim Small Water-Related Losses</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Usually, CR advises avoiding filing claims for losses that appear to be less costly than the value of the deductible. That’s because if you later file other claims, the insurer could decide you’re reporting too many incidents and raise your premium—or refuse to renew your policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But there may be exceptions after some storms. With water damage, small spots on a wall or ceiling could reflect a bigger mess behind the gypsum wallboard or plasterboard, says Amber Mostyn, a Houston attorney who represents consumers dealing with insurers. “Reporting it now shows you’ve reported in a timely manner,” she says. “And if you find something later, it could very well add up to above the deductible.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Prepare for the Adjuster</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The insurance company will assign an adjuster, who will assess the damage and submit an estimate for review. Since the beginning of the pandemic, adjusters have increasingly been doing their work remotely—communicating through smartphone tools like FaceTime, Google Duo, and Skype—and accepting videos and photos directly from policyholders’ phones.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>During the appointment, the adjuster may ask you to walk from room to room taking video with your phone, describing the damage and showing it in context and scale by zooming in and out.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But if you’re not comfortable dealing virtually—or the damage appears to be considerable and severe—you can ask the insurer to have an adjuster come to your home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If that’s the case, ask the insurance company for the adjuster’s name before your appointment, then ask for identification before letting the person into your home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Regardless of whether your adjuster’s visit is conducted virtually or in person, it helps to make a list of items that were destroyed or are in need of repair. Include the amount you paid for them and gather any receipts you can find.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You can report more damage you discover after the adjuster’s appointment. Depending on the policy, a claim can stay open—and you can receive additional compensation—for many months after the initial report.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Document All Your Transactions</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>After the adjuster’s appointment, remain in contact by email or text so that you have backup of all your communication. Keep notes about missed appointments, unreturned phone calls, what you discussed, and even whether the adjuster was rude. Though you probably won’t need this information, it will be useful if any disagreements have to be resolved in court.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Make copies of all documents, including everything you give to the adjuster, such as your list of property lost or damaged. If the adjuster advises you to get repairs, get that permission in writing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In an emergency situation, the first adjuster may be replaced by a new one during the claims process, so having correspondence in writing could be helpful to you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Discuss Exclusions or Limits in Your Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>After the appointment, the adjuster or a company representative may give you a better idea of what the insurer intends to pay for the entire claim. If your insurer maintains that your policy doesn’t cover all the damages or if you think the compensation is too low, ask the carrier’s rep to explain in writing how he or she got to the estimate. The rep should also include any reason certain items aren’t covered and whether there are any coverage limits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you have custom work in your house, an adjuster may not know how to properly estimate the value. Get an outside estimate from a contractor.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you think the wording in the policy is misleading, contact a local plaintiff’s attorney who specializes in insurance law. The Consumer Federation of America notes that courts have consistently ruled in favor of policyholders on policy ambiguities. File a complaint with your state’s department of insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Consider Hiring a Public Adjuster</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have a very large claim, you may want to turn to a public adjuster, someone who works on your behalf and represents you during the process. But be aware of fees. In some states a public adjuster’s fees are capped, typically at 10 percent to 12 percent of the insurance payout. In other states there are either no caps or adjusters simply charge a flat fee.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To find a public adjuster, check with the&nbsp;<a href=\"https://www.napia.com/\" target=\"_blank\" rel=\"noreferrer noopener\">National Association of Public Insurance Adjusters</a>. Ask for references from past clients and look to see whether he or she has several years of experience and a state license where required.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>There are four states where no licensing is required: Alabama, Alaska, Arkansas, and South Dakota. If you live in one of those states, Diane Swerling, a principal at Swerling Milton Winnick Public Insurance Adjusters in Wellesley, Mass., suggests contacting an attorney who works with catastrophe victims to help you find a reputable adjuster.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.consumerreports.org/homeowners-insurance/how-to-file-a-homeowners-insurance-claim-after-an-emergency-weather-natural-disaster-a4792985733/?EXTKEY=NA19NHB1&amp;utm_source=acxiom&amp;utm_medium=email&amp;utm_campaign=20210908_nsltr_home&amp;utm_nsltr=home\">click here.</a></p>\n<!-- /wp:paragraph -->','How to File a Homeowners Insurance Claim After a Storm','','publish','closed','closed','','how-to-file-a-homeowners-insurance-claim-after-a-storm','','','2022-11-29 00:43:56','2022-11-29 00:43:56','',0,'http://smartinsurance.tips/?page_id=1925',0,'page','',0),(1926,1,'2021-09-13 22:51:41','2021-09-13 22:51:41','','My-Post-18','','inherit','open','closed','','my-post-18-3','','','2021-09-13 22:51:41','2021-09-13 22:51:41','',1925,'http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-18.png',0,'attachment','image/png',0),(1927,1,'2021-09-13 22:54:06','2021-09-13 22:54:06','<!-- wp:gallery {\"ids\":[1926],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-18-1024x536.png\" alt=\"\" data-id=\"1926\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-18.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1926\" class=\"wp-image-1926\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Follow these tips to make sure you get your due.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Once you’ve found a safe place to stay after a big storm, the hard work of restoring you home—and your life—begins. Getting your due from your homeowners insurance is a major part of that process.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Here’s how to get started.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Contact Your Insurer</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The first step is to get in touch with your insurer or the agent who sold you the homeowners insurance. Your policy requires you to make a claim in a timely manner.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Generally speaking, you can’t make a claim until you’re able to document the property damage, says Michael Barry, a spokesperson for the New York-based Insurance Information Institute, an industry organization. So if you can’t access your property, you typically will have to wait to get things rolling.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Still, it’s worth contacting the insurer to see whether it’s using drones to conduct initial damage assessments. Some insurers have been authorized by the Federal Aviation Administration to use drones that way for certain situations, Barry says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Do the Stopgap Work</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The insurer can advise you about what repairs you should make right away to make your home habitable or to prevent further damage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, if you need a plumber to close off water lines, check your state’s licensing board to find one who’s licensed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Regardless of where the plumber is from, check the Better Business Bureau from that region for complaints and other information. You also may find testimonials on local review sites for consumer services.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Even if the insurer sends you a check right away for that emergency work, you may have to pay the bill yourself first. Either way, keep receipts that you can later file with your claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Get Your Coverage Details</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When you contact your agent or insurance company, find out what’s covered in your policy. You can also probably find it on your account page on the insurer’s website.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A standard homeowners insurance policy covers damage to the home’s structure as well as personal property, minus a deductible. The amount you’re paid will depend on the kind of coverage you have. Though “replacement cost” coverage should cover the cost of repairing or replacing your home and any lost or damaged items, “actual cash value” coverage will pay you the value of your home and the damaged items inside, less depreciation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Your policy also may cover the “loss of use” of your home and additional living expenses (ALE) such as rent or hotel bills, restaurant meals, transportation, clothing, and other expenses—up to a limit—when your home becomes uninhabitable or inaccessible due to fire. If it’s accessible and habitable but you can’t go back to it due to mandatory evacuation orders, you’re covered for ALE, up to a limit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Claim Small Water-Related Losses</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Usually, CR advises avoiding filing claims for losses that appear to be less costly than the value of the deductible. That’s because if you later file other claims, the insurer could decide you’re reporting too many incidents and raise your premium—or refuse to renew your policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But there may be exceptions after some storms. With water damage, small spots on a wall or ceiling could reflect a bigger mess behind the gypsum wallboard or plasterboard, says Amber Mostyn, a Houston attorney who represents consumers dealing with insurers. “Reporting it now shows you’ve reported in a timely manner,” she says. “And if you find something later, it could very well add up to above the deductible.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Prepare for the Adjuster</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The insurance company will assign an adjuster, who will assess the damage and submit an estimate for review. Since the beginning of the pandemic, adjusters have increasingly been doing their work remotely—communicating through smartphone tools like FaceTime, Google Duo, and Skype—and accepting videos and photos directly from policyholders’ phones.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>During the appointment, the adjuster may ask you to walk from room to room taking video with your phone, describing the damage and showing it in context and scale by zooming in and out.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But if you’re not comfortable dealing virtually—or the damage appears to be considerable and severe—you can ask the insurer to have an adjuster come to your home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If that’s the case, ask the insurance company for the adjuster’s name before your appointment, then ask for identification before letting the person into your home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Regardless of whether your adjuster’s visit is conducted virtually or in person, it helps to make a list of items that were destroyed or are in need of repair. Include the amount you paid for them and gather any receipts you can find.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You can report more damage you discover after the adjuster’s appointment. Depending on the policy, a claim can stay open—and you can receive additional compensation—for many months after the initial report.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Document All Your Transactions</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>After the adjuster’s appointment, remain in contact by email or text so that you have backup of all your communication. Keep notes about missed appointments, unreturned phone calls, what you discussed, and even whether the adjuster was rude. Though you probably won’t need this information, it will be useful if any disagreements have to be resolved in court.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Make copies of all documents, including everything you give to the adjuster, such as your list of property lost or damaged. If the adjuster advises you to get repairs, get that permission in writing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In an emergency situation, the first adjuster may be replaced by a new one during the claims process, so having correspondence in writing could be helpful to you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Discuss Exclusions or Limits in Your Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>After the appointment, the adjuster or a company representative may give you a better idea of what the insurer intends to pay for the entire claim. If your insurer maintains that your policy doesn’t cover all the damages or if you think the compensation is too low, ask the carrier’s rep to explain in writing how he or she got to the estimate. The rep should also include any reason certain items aren’t covered and whether there are any coverage limits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you have custom work in your house, an adjuster may not know how to properly estimate the value. Get an outside estimate from a contractor.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you think the wording in the policy is misleading, contact a local plaintiff’s attorney who specializes in insurance law. The Consumer Federation of America notes that courts have consistently ruled in favor of policyholders on policy ambiguities. File a complaint with your state’s department of insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Consider Hiring a Public Adjuster</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have a very large claim, you may want to turn to a public adjuster, someone who works on your behalf and represents you during the process. But be aware of fees. In some states a public adjuster’s fees are capped, typically at 10 percent to 12 percent of the insurance payout. In other states there are either no caps or adjusters simply charge a flat fee.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To find a public adjuster, check with the&nbsp;<a href=\"https://www.napia.com/\" target=\"_blank\" rel=\"noreferrer noopener\">National Association of Public Insurance Adjusters</a>. Ask for references from past clients and look to see whether he or she has several years of experience and a state license where required.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>There are four states where no licensing is required: Alabama, Alaska, Arkansas, and South Dakota. If you live in one of those states, Diane Swerling, a principal at Swerling Milton Winnick Public Insurance Adjusters in Wellesley, Mass., suggests contacting an attorney who works with catastrophe victims to help you find a reputable adjuster.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.consumerreports.org/homeowners-insurance/how-to-file-a-homeowners-insurance-claim-after-an-emergency-weather-natural-disaster-a4792985733/?EXTKEY=NA19NHB1&amp;utm_source=acxiom&amp;utm_medium=email&amp;utm_campaign=20210908_nsltr_home&amp;utm_nsltr=home\">click here.</a></p>\n<!-- /wp:paragraph -->','How to File a Homeowners Insurance Claim After a Storm','','inherit','closed','closed','','1925-revision-v1','','','2021-09-13 22:54:06','2021-09-13 22:54:06','',1925,'http://smartinsurance.tips/?p=1927',0,'revision','',0),(1949,1,'2021-10-14 20:51:01','2021-10-14 20:51:01','<!-- wp:gallery {\"ids\":[1950],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-1024x536.png\" alt=\"\" data-id=\"1950\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1950\" class=\"wp-image-1950\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Hosting a holiday get-together may feel more challenging right now, given the uncertainties with the pandemic.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Thinking of having people over, or doing something special just for your family for the holidays? You may feel a bit out of practice—and a little stressed out by that—as well. “But there’s an awful lot that can be done in advance,” says Jodie Watson, an organizing pro.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>And the truth is, you don’t have to do everything yourself. “No one wins awards for making their own piecrust,” Lilly Jan, a food and beverage expert, points out. In fact, time-savers abound. As Leslie Lampert, a chef, notes, “You can supplement a homemade menu with a handful of takeout items.” Here, you’ll find a bounty of simple tips and CR-tested tools to help you get ready for­­­—and enjoy—a special meal with those you love.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Planning</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Pin down the menu.&nbsp;</strong>This allows you to get a jump on everything else. A simple one to consider: Butternut squash soup, roast turkey or boneless ham, mashed potatoes, stuffing, roasted brussels sprouts, and pie.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Choose truly easy appetizers.</strong> To whet appetites without filling guests up, “stick to something simple and light, like spiced nuts or olives,” says Amy Keating, a registered dietitian at Consumer Reports. Or skip the formal soup course and serve soup shooters in espresso cups or shot glasses instead. Soups like butternut squash and potato leek can be served warm, at room temperature, or chilled.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Prepping</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Be appliance savvy.</strong> If more than one menu item requires a seldom used (and bulky) appliance like a stand mixer—think piecrust and cookies—prep them all at once so that you can stash the mixer away instead of pulling it out multiple times.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Chop in bulk. </strong>You’ll probably use the same staple veggies in more than one recipe, so cut up, say, all the garlic, onions, and carrots you’ll need at once. (A food processor can speed this up.) Store strong-smelling items in airtight containers, Keating says, “otherwise, foods like chopped onions can stink up the fridge, or worse, migrate into foods like butter.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Spread out your cooking.&nbsp;</strong>Cook some menu items a few days beforehand. “Dishes like sweet potatoes or stuffing can be made two to three days ahead,” Lampert says. (Soup, too.) Just reheat and serve on the day of the event. It’s best to cook turkey on the day of your gathering.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Use this go-to pot. </strong>Large, lidded, and versatile, Dutch ovens can be used to cook dishes in the oven or on the stove and then go into the fridge for storage. For your holiday meal, simply transfer the pot back to the range for reheating. Plus, “in our tests, Dutch ovens also retain heat, making them a great choice for serving, too, since your sides will stay warm on the table,” says Tara Casaregola, who’s in charge of CR’s cookware testing. “Use a trivet if you’re transferring directly from oven to table.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>The Gathering</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Organize all your nonfood items.</strong>&nbsp;At least a day before the meal, bust out any dishes, glasses, utensils, and serving platters you’ll need, says Kathi Lipp, a home-organizing expert and author. Wash anything you haven’t used in awhile, and “match” each food to cookware and serving pieces. And “check to see if the pots and pans you’ll need will all fit on the burners at once,” Casaregola says. In addition, be sure to have a dependable meat thermometer, like an instant-read digital model. CR\'s tests have found that the pop-up thermometers that often come with turkey may pop up before the bird reaches a safe temperature, says Sana Mujahid, PhD, manager of food safety research and testing at CR.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Neaten counters.&nbsp;</strong>Stash whatever you won’t need for the get-together, like canisters, advises Jodie Watson, owner of Supreme Organization in California. “Those sorts of items can be put away to give you more space to work in the kitchen and cut down on clutter,” she says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Do a table test run.</strong> Put the empty serving pieces you’re planning to use on the table to make sure everything will fit, suggests Lilly Jan, a lecturer on food and beverage management at the School of Hotel Administration at the Cornell SC Johnson College of Business. Once the arrangement is to your liking, snap a quick photo. That will help you place platters quickly and surely during the meal or let you pass the task on to someone else.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Put countertop appliances to work. </strong>These efficient devices can make cooking and reheating easier while freeing up oven and stovetop space, Casaregola says. Instead of roasting veggies in the oven, for instance, try an air fryer, which can quickly turn out tasty sides like cauliflower or asparagus. Use a toaster oven to warm up sides or breads and a slow cooker or multi-cooker for warming soups or hot dips. Bonus: The latter two can keep food warm for hours. Chafing dishes are also an easy way to keep food at the right temperature throughout your meal, Jan notes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Attend to last-minute concerns.</strong> Missing an ingredient? See whether a food </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>store is open nearby or whether you can use something else instead.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you forgot to defrost the turkey, you can roast it frozen. (It will take more time, at least 50 percent longer.) Carefully remove the bag of giblets inside the bird about 2 hours into cooking, says James E. Rogers, PhD, director of food safety research and testing at CR.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Add some music. </strong>Use multiroom speakers to create ambience. Allen St. John, CR’s guru on smart speakers, suggests linking a few WiFi-enabled Ikea Symfonisk speakers (starting at $99 each). For Bluetooth capability, sync them with a Sonos Roam ($170).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Let others pitch in.</strong> Jan suggests creating a list of the tasks you don’t necessarily need to tackle yourself. Kathi Lipp advises having someone make a playlist, for instance, or do the vacuuming. This can add to the holiday gathering in more than one way, she points out: “Everybody wants to help—and these are things that can make them feel involved and get excited about chipping in. It makes for a much better atmosphere and will give the host more time to enjoy the event, too.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As long as the weather isn’t frigid or stormy, you might be able to hold at least part of your holiday dinner outdoors. Three tips:<br><strong>SET THE SCENE.</strong> Add string lights, music, and cozy blankets, and if you have a fire pit, put it to use.<br><strong>HAVE COCKTAILS ALFRESCO.</strong> If you don’t want to do the whole meal among the stars, “putting the wine and beverages outside gives you time to finish up [meal prep] without guests interfering,” says Lilly Jan, a food and beverage expert.<br><strong>ADD A SPECIAL TOUCH.</strong> “Set up a hot chocolate bar where people can fill up their mugs,” says Kathi Lipp, a home-organizing expert. Or have the fixings for toasting s’mores. For a casual meal, serve slow-cooker chili or have your guests make pizzas in an outdoor pizza oven. “All of these things could be so fun,” Lipp says, “and might start your next tradition.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.consumerreports.org/holiday-planning-preparation/entertain-with-ease-this-holiday-season/\">click here</a>.</p>\n<!-- /wp:paragraph -->','Entertain With Ease This Season','','publish','open','open','','entertain-with-ease-this-season','','','2021-10-14 20:51:03','2021-10-14 20:51:03','',0,'http://smartinsurance.tips/?p=1949',0,'post','',0),(1929,1,'2021-09-13 23:05:34','2021-09-13 23:05:34','<!-- wp:gallery {\"ids\":[1930],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-19-1024x536.png\" alt=\"\" data-id=\"1930\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-19.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1930\" class=\"wp-image-1930\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>In the insurance context, we look at risk to mean the chance of “financial loss”. This isn’t restricted solely to the loss of money—it could mean many things—including loss to health, property, or other assets.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you get sick, you would face a financial loss due to medical bills or lost income if you are unable to work. Similarly, businesses could face financial losses if a trade secret was revealed or from having their reputation damaged in some way. The point is that there are a myriad of things that could result in a financial loss beyond the destruction or loss of property.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To deal with the risks individuals and businesses face on a daily basis, people turn to insurance to protect them. In exchange for a relatively small monthly premium, the insurance company promises to indemnify and protect insureds against potentially large and unknown losses in the future. Essentially, insurance gives you certainty.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Unfortunately, there are limits to insurance protections and it’s not always possible to protect individuals and businesses from every type of risk out there. Insurers call these uninsurable risks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":1} -->\n<h1>What is an Uninsurable Risk?</h1>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>An uninsurable risk is a risk that insurance companies cannot insure (or are reluctant to insure) no matter how much you pay. Common uninsurable risks include: reputational risk, regulatory risk, trade secret risk, political risk, and pandemic risk.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The primary function of insurance is to spread risk across a wide area rather than keeping it concentrated. Insurance companies serve as the central point of control that administers this process. They collect premiums from many policyholders and use that money to pay the claims of a few policyholders. Insurance companies can only survive if claims do not occur too often. If the amount paid out in claims is consistently greater than the amounts received in premiums, then the company cannot survive.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Therefore, when the probability of loss is too high or the claims costs are too high on a particular risk, the insurance company may consider it uninsurable and exclude it from the policy. Let’s use a tangible example to help illustrate this point:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Take, for example, a health insurance applicant who has terminal cancer. The likelihood that is insurance company would have to pay is 100% and healthcare costs are expected to be very high. With no way to collect enough premiums to offset those high healthcare costs and still turn a profit, there is no choice but to decline this applicant as an uninsurable risk.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Similarly, you would be hard-pressed to find an insurance company willing to offer life insurance coverage to a 100 year old man. There is no way the insurance company could collect enough premiums in such a short time to offset the amount paid out. Accepting this applicant would mean burdening the pool of other insureds and drive premiums up for everyone else.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In order to avoid moral hazards (the idea that people will act more recklessly when they know they are covered by insurance,) illegal activities or willful acts are also uninsurable risks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Insurance will not protect you or your business from criminal fines or penalties although some (i.e. cyber or privacy liability insurance) will cover some regulatory fines.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":1} -->\n<h1>Types of Uninsurable Risks</h1>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are a few reasons why a risk might be considered uninsurable:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol><li>There is the potential for catastrophic loss.</li><li>It is commercially uninsurable.</li><li>It is an uncommon loss.</li><li>It is the result of naturally occurring or cumulative damage.</li></ol>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"catastrophic-losses\">Catastrophic Losses</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Risks that are rare but could result in potentially massive losses are also excluded. While you might want to protect yourself and your business from every possible eventuality, some are just not insurable due to the sheer size. Insurers cannot possibly estimate the extent of damages and costs if war breaks out or, as we saw in 2020, the amount of business interruption and lost revenues from a global pandemic. Insurance companies can’t estimate the size of these losses but they know it would be too large to insure.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>According to Canadian Underwriter, insurers globally collected US$30 billion in business interruption insurance premiums whereas the pandemic induced a US$4.5 trillion reduction in global GDP. That is nowhere near enough premiums to offset such a large loss. With their potential to destabilize or bankrupt an insurance company practically overnight, they are uninsurable.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>That said, not all risks with catastrophic loss potential are excluded. Risks like earthquake, flood, or forest fires can result in catastrophic losses but they are insurable for an additional fee or by purchasing specific coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"commercially-uninsurable-losses\">Commercially Uninsurable Losses</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Risks can be commercially uninsurable because they have the potential for catastrophic loss but another reason is simply that they’re illegal to insure. In many parts of the world, cannabis is still an illegal and highly controlled substance while it is fully legal in other areas. If an insurance company is subject to the rules and regulations of a government that considers cannabis illegal, they may not be able to insure those types of businesses. Similarly, if you were to insure a shipment of illegal goods, it would not be covered if the insurer discovers this fact.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While it might sound exotic, this type of uninsurable risk is more common than you might think. When was the last time you purchased something expensive like a watch or handbag while on vacation? Did you pay the tax on it when you brought it back? If you didn’t, your home insurance company might not cover that item. If you didn\'t pay the duty you owed, it counts as “illegally smuggled” into the country and therefore uninsurable.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"uncommon-losses\">Uncommon Losses</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you recall, the function of insurance is to spread the losses of the few amongst the many. The role of the insurance company is to vet applicants and administer the pool of premiums so there’s enough to pay losses. If there are a few people in that pool with some uncommon risks, the other policyholders would be paying more to insure a risk that they didn’t technically need.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The solution is to exclude these types of risks altogether or create a separate product specifically for that subset of people so you’re not impacting the pricing and results of other policyholders that don’t have those unique risk exposures.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Many insurers have special pools for “high risk” individuals but policies are usually more restrictive and more expensive. This is common for drivers with poor driving histories or drive unusual vehicles.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"naturally-occurring-or-cumulative-damage\">Naturally Occurring or Cumulative Damage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Insurance is meant to protect you against unknown losses in the future that may or may not occur. Losses that are cumulative or naturally occurring are predictable and therefore do not fall under insurance protection. Some examples of naturally occurring or cumulative damage include: wear and tear, natural spoilage of perishable food items or discoloration of clothing on display in a store.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":1} -->\n<h1>The Changing Insurance Landscape</h1>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The good news is that despite the conservative image that the insurance industry has in popular culture, it is always changing. As new risks emerge and demand develops, insurance companies develop new products to meet that demand and stay competitive in the marketplace.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For insurance, even just 10 years ago, cybercrime was a rare occurrence. Early hackers were mostly hobbyists doing it for the thrill rather than to cause damage or extort money from victims. Now, it is an entire industry run by states and organized criminal gangs. In response, the insurance industry now offers comprehensive cyber insurance coverage to protect businesses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Outside of creating entirely new products, existing ones also change in response. Due to popular demand and changing societal expectations, Employment Practices Liability Insurance (EPLI) now covers sexual harassment, unfair work practices, and discrimination in the workplace based on religion, gender, or race. Previously, these issues were considered uninsurable.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If the risks you are concerned about are uninsurable, there are often government programs available. For example, many governments will offer you flood coverage if you are denied flood insurance from a traditional insurer due to your high-risk geographic location (flood zone or storm corridor).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"final-thoughts\">Final Thoughts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Whether you’re looking for personal or business coverage, your best protection is a good agent or broker. They will work with you to perform a risk analysis to identify and address your risk exposures whether through insurance products or other risk management techniques if the risk turns out to be uninsurable.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.insuranceopedia.com/2/5207/the-insurance-business/a-look-at-uninsurable-risk\">click here.</a></p>\n<!-- /wp:paragraph -->','A Look at Uninsurable Risk','','publish','closed','closed','','a-look-at-uninsurable-risk','','','2021-09-13 23:05:35','2021-09-13 23:05:35','',0,'http://smartinsurance.tips/?page_id=1929',0,'page','',0),(1930,1,'2021-09-13 23:01:55','2021-09-13 23:01:55','','My-Post-19','','inherit','open','closed','','my-post-19-2','','','2021-09-13 23:01:55','2021-09-13 23:01:55','',1929,'http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-19.png',0,'attachment','image/png',0),(1931,1,'2021-09-13 23:05:34','2021-09-13 23:05:34','<!-- wp:gallery {\"ids\":[1930],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-19-1024x536.png\" alt=\"\" data-id=\"1930\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-19.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1930\" class=\"wp-image-1930\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>In the insurance context, we look at risk to mean the chance of “financial loss”. This isn’t restricted solely to the loss of money—it could mean many things—including loss to health, property, or other assets.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you get sick, you would face a financial loss due to medical bills or lost income if you are unable to work. Similarly, businesses could face financial losses if a trade secret was revealed or from having their reputation damaged in some way. The point is that there are a myriad of things that could result in a financial loss beyond the destruction or loss of property.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To deal with the risks individuals and businesses face on a daily basis, people turn to insurance to protect them. In exchange for a relatively small monthly premium, the insurance company promises to indemnify and protect insureds against potentially large and unknown losses in the future. Essentially, insurance gives you certainty.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Unfortunately, there are limits to insurance protections and it’s not always possible to protect individuals and businesses from every type of risk out there. Insurers call these uninsurable risks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":1} -->\n<h1>What is an Uninsurable Risk?</h1>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>An uninsurable risk is a risk that insurance companies cannot insure (or are reluctant to insure) no matter how much you pay. Common uninsurable risks include: reputational risk, regulatory risk, trade secret risk, political risk, and pandemic risk.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The primary function of insurance is to spread risk across a wide area rather than keeping it concentrated. Insurance companies serve as the central point of control that administers this process. They collect premiums from many policyholders and use that money to pay the claims of a few policyholders. Insurance companies can only survive if claims do not occur too often. If the amount paid out in claims is consistently greater than the amounts received in premiums, then the company cannot survive.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Therefore, when the probability of loss is too high or the claims costs are too high on a particular risk, the insurance company may consider it uninsurable and exclude it from the policy. Let’s use a tangible example to help illustrate this point:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Take, for example, a health insurance applicant who has terminal cancer. The likelihood that is insurance company would have to pay is 100% and healthcare costs are expected to be very high. With no way to collect enough premiums to offset those high healthcare costs and still turn a profit, there is no choice but to decline this applicant as an uninsurable risk.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Similarly, you would be hard-pressed to find an insurance company willing to offer life insurance coverage to a 100 year old man. There is no way the insurance company could collect enough premiums in such a short time to offset the amount paid out. Accepting this applicant would mean burdening the pool of other insureds and drive premiums up for everyone else.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In order to avoid moral hazards (the idea that people will act more recklessly when they know they are covered by insurance,) illegal activities or willful acts are also uninsurable risks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Insurance will not protect you or your business from criminal fines or penalties although some (i.e. cyber or privacy liability insurance) will cover some regulatory fines.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":1} -->\n<h1>Types of Uninsurable Risks</h1>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are a few reasons why a risk might be considered uninsurable:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol><li>There is the potential for catastrophic loss.</li><li>It is commercially uninsurable.</li><li>It is an uncommon loss.</li><li>It is the result of naturally occurring or cumulative damage.</li></ol>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"catastrophic-losses\">Catastrophic Losses</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Risks that are rare but could result in potentially massive losses are also excluded. While you might want to protect yourself and your business from every possible eventuality, some are just not insurable due to the sheer size. Insurers cannot possibly estimate the extent of damages and costs if war breaks out or, as we saw in 2020, the amount of business interruption and lost revenues from a global pandemic. Insurance companies can’t estimate the size of these losses but they know it would be too large to insure.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>According to Canadian Underwriter, insurers globally collected US$30 billion in business interruption insurance premiums whereas the pandemic induced a US$4.5 trillion reduction in global GDP. That is nowhere near enough premiums to offset such a large loss. With their potential to destabilize or bankrupt an insurance company practically overnight, they are uninsurable.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>That said, not all risks with catastrophic loss potential are excluded. Risks like earthquake, flood, or forest fires can result in catastrophic losses but they are insurable for an additional fee or by purchasing specific coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"commercially-uninsurable-losses\">Commercially Uninsurable Losses</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Risks can be commercially uninsurable because they have the potential for catastrophic loss but another reason is simply that they’re illegal to insure. In many parts of the world, cannabis is still an illegal and highly controlled substance while it is fully legal in other areas. If an insurance company is subject to the rules and regulations of a government that considers cannabis illegal, they may not be able to insure those types of businesses. Similarly, if you were to insure a shipment of illegal goods, it would not be covered if the insurer discovers this fact.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While it might sound exotic, this type of uninsurable risk is more common than you might think. When was the last time you purchased something expensive like a watch or handbag while on vacation? Did you pay the tax on it when you brought it back? If you didn’t, your home insurance company might not cover that item. If you didn\'t pay the duty you owed, it counts as “illegally smuggled” into the country and therefore uninsurable.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"uncommon-losses\">Uncommon Losses</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you recall, the function of insurance is to spread the losses of the few amongst the many. The role of the insurance company is to vet applicants and administer the pool of premiums so there’s enough to pay losses. If there are a few people in that pool with some uncommon risks, the other policyholders would be paying more to insure a risk that they didn’t technically need.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The solution is to exclude these types of risks altogether or create a separate product specifically for that subset of people so you’re not impacting the pricing and results of other policyholders that don’t have those unique risk exposures.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Many insurers have special pools for “high risk” individuals but policies are usually more restrictive and more expensive. This is common for drivers with poor driving histories or drive unusual vehicles.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"naturally-occurring-or-cumulative-damage\">Naturally Occurring or Cumulative Damage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Insurance is meant to protect you against unknown losses in the future that may or may not occur. Losses that are cumulative or naturally occurring are predictable and therefore do not fall under insurance protection. Some examples of naturally occurring or cumulative damage include: wear and tear, natural spoilage of perishable food items or discoloration of clothing on display in a store.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":1} -->\n<h1>The Changing Insurance Landscape</h1>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The good news is that despite the conservative image that the insurance industry has in popular culture, it is always changing. As new risks emerge and demand develops, insurance companies develop new products to meet that demand and stay competitive in the marketplace.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For insurance, even just 10 years ago, cybercrime was a rare occurrence. Early hackers were mostly hobbyists doing it for the thrill rather than to cause damage or extort money from victims. Now, it is an entire industry run by states and organized criminal gangs. In response, the insurance industry now offers comprehensive cyber insurance coverage to protect businesses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Outside of creating entirely new products, existing ones also change in response. Due to popular demand and changing societal expectations, Employment Practices Liability Insurance (EPLI) now covers sexual harassment, unfair work practices, and discrimination in the workplace based on religion, gender, or race. Previously, these issues were considered uninsurable.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If the risks you are concerned about are uninsurable, there are often government programs available. For example, many governments will offer you flood coverage if you are denied flood insurance from a traditional insurer due to your high-risk geographic location (flood zone or storm corridor).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"final-thoughts\">Final Thoughts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Whether you’re looking for personal or business coverage, your best protection is a good agent or broker. They will work with you to perform a risk analysis to identify and address your risk exposures whether through insurance products or other risk management techniques if the risk turns out to be uninsurable.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.insuranceopedia.com/2/5207/the-insurance-business/a-look-at-uninsurable-risk\">click here.</a></p>\n<!-- /wp:paragraph -->','A Look at Uninsurable Risk','','inherit','closed','closed','','1929-revision-v1','','','2021-09-13 23:05:34','2021-09-13 23:05:34','',1929,'http://smartinsurance.tips/?p=1931',0,'revision','',0),(1932,1,'2021-09-14 19:04:30','2021-09-14 19:04:30','<!-- wp:gallery {\"ids\":[1933],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-20-1024x536.png\" alt=\"\" data-id=\"1933\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-20.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1933\" class=\"wp-image-1933\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0\">What Is Property Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">Property insurance is a broad term for </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>a series of policies that provide either property protection coverage or liability coverage for property owners. Property insurance provides financial reimbursement to the owner or renter of a structure and its contents in case there is damage or theft—and to a person other than the owner or renter if that person is injured on the property.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Property insurance can include a number of policies, such as homeowners insurance, renters insurance, flood insurance, and earthquake insurance. Personal property is usually covered by a homeowners or renters policy. The exception is personal property that is very high value and expensive—this is usually covered by purchasing an addition to the policy called a \"rider.\" If there\'s a claim, the property insurance policy will either reimburse the policyholder for the actual value of the damage or the replacement cost to fix the problem.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Property insurance refers to a series of policies that offer either property protection or liability coverage.</li><li>Property insurance can include homeowners insurance, renters insurance, flood insurance, and earthquake insurance, among other policies.</li><li>The three types of property insurance coverage include replacement cost, actual cash value, and extended replacement costs.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-7\">How Property Insurance Works</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-8\">Perils covered by property insurance typically include select weather-related afflictions, including damage caused by fire, smoke, wind, hail, the impact of snow and ice, lightning, and more. Property insurance also protects against vandalism and theft, covering the structure and its contents. Property insurance also provides liability coverage in case someone other than the property owner or renter is injured while on the property and decides to sue.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Property insurance policies normally exclude damage that results from a variety of events, including tsunamis, floods, drain and sewer backups, seeping groundwater, standing water, and a number of other sources of water. Mold is usually not covered, nor is the damage from an earthquake. In addition, most policies will not cover extreme circumstances, such as nuclear events, acts of war or terrorism.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: Property insurance includes homeowners insurance, renters insurance, flood insurance, and earthquake insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-14\">Understanding Property Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-15\">There are three types of property insurance coverage: replacement cost, actual cash value, and extended replacement costs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-17\"><li><strong>Replacement cost</strong>&nbsp;covers the cost of repairing or replacing property at the same or equal value. The coverage is based on replacement cost values rather than the cash value of items.</li><li><strong>Actual cash value</strong>&nbsp;coverage pays the owner or renter the replacement cost minus depreciation. If the destroyed item is 10 years old, you get the value of a 10-year-old item, not a new one.</li><li><strong>Extended replacement costs</strong>&nbsp;will pay more than the coverage limit if the costs for construction have gone up; however, this usually won\'t exceed 25%&nbsp;of the limit. When you buy insurance, the limit is the maximum amount of benefit the insurance company will pay for a given situation or occurrence.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-19\">Special Considerations</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most homeowners purchase a hybrid policy that compensates for physical loss or damage caused by 16 perils, including fire, vandalism, and theft. The coverage, known as an HO3 policy, has certain conditions and exclusions. There is a predetermined limit on the coverage of certain valuables and collectibles, including gold, wedding rings and other jewelry, furs, cash, firearms, and other items. No coverage is usually provided in an HO3 for accidental breakage/damage and mysterious disappearance (lost, misplaced) of valuables, including fine art and antiques.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>HO5 homeowners coverage includes everything in an HO3 policy, but is geared toward the structure itself and the property within the home, including furniture, appliances, clothing, and other personal items. An HO5 doesn\'t cover for earthquakes or floods. HO5 insurance policies are available to homes that were either built in the last 30 years or renovated in the last 40 years, and they typically cover any damages at replacement cost.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>HO4 property insurance is usually known as renter\'s insurance—it covers tenants from loss of personal property and liability coverage. It does not cover the actual house or apartment being rented, which should be covered by the landlord’s insurance policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note that none of these coverage levels reimburses the homeowner for property that breaks down or is damaged in more normal wear-and-tear situations, such as a roof that begins to leak without damage from wind and hail. That\'s where home warranties—another way to protect your property—can be helpful.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/terms/p/property-insurance.asp\">click here</a>.</p>\n<!-- /wp:paragraph -->','Guide To Property Insurance','','publish','open','open','','guide-to-property-insurance','','','2021-09-14 19:04:32','2021-09-14 19:04:32','',0,'http://smartinsurance.tips/?p=1932',0,'post','',0),(1933,1,'2021-09-14 19:00:39','2021-09-14 19:00:39','','My-Post-20','','inherit','open','closed','','my-post-20-3','','','2021-09-14 19:00:39','2021-09-14 19:00:39','',1932,'http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-20.png',0,'attachment','image/png',0),(1934,1,'2021-09-14 19:04:30','2021-09-14 19:04:30','<!-- wp:gallery {\"ids\":[1933],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-20-1024x536.png\" alt=\"\" data-id=\"1933\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-20.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1933\" class=\"wp-image-1933\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0\">What Is Property Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">Property insurance is a broad term for </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>a series of policies that provide either property protection coverage or liability coverage for property owners. Property insurance provides financial reimbursement to the owner or renter of a structure and its contents in case there is damage or theft—and to a person other than the owner or renter if that person is injured on the property.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Property insurance can include a number of policies, such as homeowners insurance, renters insurance, flood insurance, and earthquake insurance. Personal property is usually covered by a homeowners or renters policy. The exception is personal property that is very high value and expensive—this is usually covered by purchasing an addition to the policy called a \"rider.\" If there\'s a claim, the property insurance policy will either reimburse the policyholder for the actual value of the damage or the replacement cost to fix the problem.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Property insurance refers to a series of policies that offer either property protection or liability coverage.</li><li>Property insurance can include homeowners insurance, renters insurance, flood insurance, and earthquake insurance, among other policies.</li><li>The three types of property insurance coverage include replacement cost, actual cash value, and extended replacement costs.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-7\">How Property Insurance Works</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-8\">Perils covered by property insurance typically include select weather-related afflictions, including damage caused by fire, smoke, wind, hail, the impact of snow and ice, lightning, and more. Property insurance also protects against vandalism and theft, covering the structure and its contents. Property insurance also provides liability coverage in case someone other than the property owner or renter is injured while on the property and decides to sue.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Property insurance policies normally exclude damage that results from a variety of events, including tsunamis, floods, drain and sewer backups, seeping groundwater, standing water, and a number of other sources of water. Mold is usually not covered, nor is the damage from an earthquake. In addition, most policies will not cover extreme circumstances, such as nuclear events, acts of war or terrorism.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: Property insurance includes homeowners insurance, renters insurance, flood insurance, and earthquake insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-14\">Understanding Property Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-15\">There are three types of property insurance coverage: replacement cost, actual cash value, and extended replacement costs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-17\"><li><strong>Replacement cost</strong>&nbsp;covers the cost of repairing or replacing property at the same or equal value. The coverage is based on replacement cost values rather than the cash value of items.</li><li><strong>Actual cash value</strong>&nbsp;coverage pays the owner or renter the replacement cost minus depreciation. If the destroyed item is 10 years old, you get the value of a 10-year-old item, not a new one.</li><li><strong>Extended replacement costs</strong>&nbsp;will pay more than the coverage limit if the costs for construction have gone up; however, this usually won\'t exceed 25%&nbsp;of the limit. When you buy insurance, the limit is the maximum amount of benefit the insurance company will pay for a given situation or occurrence.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-19\">Special Considerations</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most homeowners purchase a hybrid policy that compensates for physical loss or damage caused by 16 perils, including fire, vandalism, and theft. The coverage, known as an HO3 policy, has certain conditions and exclusions. There is a predetermined limit on the coverage of certain valuables and collectibles, including gold, wedding rings and other jewelry, furs, cash, firearms, and other items. No coverage is usually provided in an HO3 for accidental breakage/damage and mysterious disappearance (lost, misplaced) of valuables, including fine art and antiques.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>HO5 homeowners coverage includes everything in an HO3 policy, but is geared toward the structure itself and the property within the home, including furniture, appliances, clothing, and other personal items. An HO5 doesn\'t cover for earthquakes or floods. HO5 insurance policies are available to homes that were either built in the last 30 years or renovated in the last 40 years, and they typically cover any damages at replacement cost.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>HO4 property insurance is usually known as renter\'s insurance—it covers tenants from loss of personal property and liability coverage. It does not cover the actual house or apartment being rented, which should be covered by the landlord’s insurance policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note that none of these coverage levels reimburses the homeowner for property that breaks down or is damaged in more normal wear-and-tear situations, such as a roof that begins to leak without damage from wind and hail. That\'s where home warranties—another way to protect your property—can be helpful.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/terms/p/property-insurance.asp\">click here</a>.</p>\n<!-- /wp:paragraph -->','Guide To Property Insurance','','inherit','closed','closed','','1932-revision-v1','','','2021-09-14 19:04:30','2021-09-14 19:04:30','',1932,'http://smartinsurance.tips/?p=1934',0,'revision','',0),(1936,1,'2021-09-14 19:18:32','2021-09-14 19:18:32','<!-- wp:gallery {\"ids\":[1937],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-21-1024x536.png\" alt=\"\" data-id=\"1937\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-21.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1937\" class=\"wp-image-1937\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading -->\n<h2>What Is Business Vehicle Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As a businessowner, you need some of the same insurance coverages for the cars, trucks, vans or other vehicles you use in your business as you do for vehicles used for personal travel.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Your Businessowners Policy (BOP) does not provide any coverage for vehicles, so you must have a separate policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Most states require you to purchase liability insurance for bodily injury and property damage that may result from a vehicle accident occurring while you or someone from your organization is driving on business. Many states also require you to have uninsured/underinsured motorists coverage and/or medical payments coverage (known as Personal Injury Protection (PIP) in some states). You can also purchase physical damage coverage for vehicles your business owns, leases or hires.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The Business Auto Coverage Form (BACF) is the most commonly used contract for providing business auto liability insurance.&nbsp; Although the form refers only to “autos,” autos are defined to include cars, trucks, trailers, vans or other vehicles designed for use on public roads.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Each vehicle you use in your business can be separately “scheduled,” or listed on your policy along with corresponding coverages. In other words, you can choose different coverages, for your various vehicles, depending on the vehicle’s characteristics and the coverage you need for it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Do I Need a Business Auto Policy?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Your insurance agent will ask in detail how you use vehicles in your business; who will be driving them; whether you own, rent or lease; and whether you and your employees are likely to be driving their own cars for your business. The answers to these questions will indicate the types of coverage you need.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In general, only a BACF can provide the level of liability protection—the recommended minimum is $500,000—that even a small business needs to cover the potential damages in a serious accident.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Will My Personal Auto Policy Cover Business Use?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Your personal auto policy provides coverage for some business use of your vehicle. Similarly, your employees’ personal auto policies cover some business use of their vehicles too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A personal auto policy is unlikely to provide coverage, however, if the vehicle in question is used&nbsp;<em>primarily</em>&nbsp;in business. It will not provide coverage for any vehicle owned by a business. The personal auto policy, whether yours or your employee’s, may not have enough coverage to protect your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, imagine you are driving your car to a business meeting while having an intense conversation on your cell phone with one of your sales reps. By the time you notice a van ahead of you has stopped to make a left turn, it’s too late to avoid a collision. The driver and five passengers are injured in the accident. They sue you and your company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you have only a personal auto policy, your insurer will probably defend you personally and pay the claim—up to the policy limit. Your personal auto policy insurer will not defend or pay damages on behalf of your business, however.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For a very serious accident or one with a number of injured people, your personal auto policy may not be enough to cover the damages. In that event, the injured parties would likely sue to collect damages from your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you or your employees are driving personal vehicles on business and relying on your personal auto policies, be sure you and they have sufficient liability coverage to protect your business in the event of a serious auto accident.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Do not expect to rely on a personal umbrella policy for any claims that arise from business use of a vehicle. Typically, the personal umbrella excludes all claims occurring in the course of a business endeavor.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What Vehicles Are Covered?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The scope of coverage in the business auto policy can be either broad or narrow, depending on your choice of options. It could, for example, be written to apply only to one specifically described auto. Or, as an example of very broad coverage, the policy could be written to apply to the named insured\'s liability exposures arising out of the use of any auto.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In general, you have three options for which vehicles you choose to cover.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Autos your business owns</li><li>All autos your business owns, hires or leases</li><li>All autos used for the business, including those that your business does not own, hire or lease</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Most businesses should buy the third type, since that is the only coverage that protects the business from liability when an employee or owner is driving a personal vehicle on business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Be Sure the Right Insured Is on the Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>An insurance contract usually requires that the owner of a vehicle be named in the policy \"Declarations\" as the “principal insured.” If you drive any of the same vehicles for both business and pleasure, make sure you tell your insurance agent who holds the vehicle’s title, you personally or your company. This will avoid problems if you need to file a claim or a claim is filed against you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Physical Damage Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The three types of physical damage coverage for motor vehicles are collision, comprehensive and specified perils.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Collision coverage is for losses that result from the collision of a covered vehicle with any object or from the vehicle overturning.</li><li>Comprehensive coverage is the broadest form of auto physical damage coverage, because it provides for losses from any cause except collision and overturn (insured under collision coverage) and a few policy exclusions, such as wear and tear, mechanical breakdown and acts of war. Among the causes of loss covered under comprehensive are flood, fire, theft, glass breakage, falling objects, explosion, earthquake or colliding with a wild bird or animal.</li><li>Specified perils coverage covers many of the same perils as comprehensive, but because it covers only “named” perils—those specifically named in the policy—it has a lower premium. It is sometimes referred to as “fire, theft and Combined Additional Coverage (CAC)”</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>If your businesses has a large fleet of vehicles, over time, it may be more costly to insure the fleet for physical damage than it is to retain the risk, that is, pay for any physical damage directly rather than by insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Regardless of how many vehicles your business has, it may be cost effective to carry physical damage coverage only on the newer or more valuable vehicles.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What Will the Insurer Pay for Physical Damage?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The amount an insurer will pay on an auto physical damage or theft claim depends on the market value, known as Actual Cash Value (ACV), of the vehicle at the time of the loss. The most that will be paid is the lesser of the ACV or the cost to repair or replace the vehicle with one of like kind and quality. In the event of a total loss, the ACV is adjusted for depreciation and the vehicle’s physical condition. Thus, the older the vehicle and the worse its condition, the more its value has depreciated and the less the insurer will pay.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The insurance company may pay you the value of the loss in money or, at its choice, it may repair or replace the damaged or stolen vehicle. In case of a theft, it may return the stolen vehicle to you with payment for any damage caused by the theft.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Liability Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The liability portion of the BACF obligates the insurer to pay all damages the business is legally obligated to pay because of bodily injury or property damage caused by a covered vehicle, up to the policy limits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>When there is an auto liability lawsuit against the insured business, where the loss is covered by the policy, the insurer is obligated to defend the business or settle the lawsuit. The decision whether to contest or settle the case is entirely at the insurer’s discretion.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The insurer’s duty to defend or settle ends when the insurance policy limits are exhausted. By way of example, imagine that three people are injured in an accident in which you or one of your employees is at fault. The policy limit is exhausted in judgments or settlements for the first two claimants. That leaves your business liable to pay the award directly, should there be a judgment in favor of the third person.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Punitive damages may be awarded in cases of gross negligence, such as drunk or reckless driving. By law in a number of states, a BACF cannot cover any punitive damages for which you may be liable. Even in states where coverage for punitive damages is allowed, your policy may exclude them.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How Much Liability Coverage Does My Business Need?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Many insurers recommend a business auto coverage limit of $1,000,000, with $500,000 as the minimum. The higher limit does not add a great deal to the premium, considering the amount of additional protection it provides.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What is a Combined Single Limit (CSL)?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Unlike personal auto policies that have separate limits for bodily injury and property damage liability (split limits), the BACF commonly has a Combined Single Limit (CSL). This creates higher limits for both bodily injury and property damage coverages, including per occurrence limits. Although you can purchase other limits, the most common commercial automobile CSLs for a small business are $500,000 and $1,000,000.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Does a Business Umbrella Cover Autos?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have a business umbrella policy, it would provide protection for owned, hired and non-owned autos, if the umbrella shows the auto liability policy as an underlying policy for which it provides coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What Coverage Do I Need if My Employees Use Company Vehicles for Personal Business?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Some businesses let employees drive company vehicles home and use them for personal purposes in the evenings or on weekends. So long as these vehicles are scheduled on your business auto policy and the appropriate “coverage auto symbols” are shown on the \"Declarations\" page, you have coverage for owned autos taken home by employees.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Employees’ own personal auto policies will not cover their use of a company car unless the car has been specifically borrowed as a temporary replacement for the employee’s own car while it is unavailable. In addition, employees who lease, hire, rent or borrow autos for their personal use are not covered by their employer’s business auto policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>When Your Business Vehicle Is Also Your Personal Vehicle</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Sometimes employees or executives of a company or other persons who are supplied with a vehicle owned by the company have only that vehicle. They do not own a personal vehicle nor do they obtain personal automobile coverage. The BACF does not cover personal use of the vehicle in this situation. To close this coverage gap, you need to add the Drive Other Car Coverage Endorsement to your BACF. This provides insurance while the named individual or a member of his or her family is driving a car borrowed from a third party.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What Coverage Do I Need if Employees Drive Their Personal Vehicles on Business?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If your employees drive their own cars for business purposes—to visit clients, for example—your business could wind up liable for property damage and bodily injuries resulting from a traffic accident for which an employee was at fault.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Sometimes businessowners don’t notice they have this exposure. Consider these scenarios:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Your office manager stops by the office supply store to pick up some items for work on her way back from lunch.</li><li>On the way home, a supervisor stops by a client’s office to leave a product sample.</li><li>While on vacation, a salesperson driving his personal vehicle makes a brief stop to visit a customer.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>These are all situations where a business can find itself liable for an auto accident with damages higher than the policy limit of the employee’s personal auto policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To protect your business from these liability risks, you can add the Non-owned Auto Liability Endorsement to your BACF. It provides coverage when employees drive their own vehicles on business. This BACF coverage is excess over the limits provided by the employee’s personal auto coverage. If the employee’s limits are low—such as only to satisfy state financial responsibility limits—then it is critically important for the business to have this non-owned auto protection.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>You Are Liable if You Allow a Bad Driver on the Road</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You are legally liable when you allow someone to drive one of your vehicles. If you fail to take reasonable steps to determine that the driver is qualified to drive or if you allow someone to drive whom you know has a poor driving record and that person causes an accident, you could be liable for negligent entrustment. Any damages awarded for negligent entrustment would be on top of liability for the accident itself.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A case of negligent entrustment arises when someone allows another person to use a vehicle knowing or having reason to know that the use of the vehicle by that person creates a risk of harm to others.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Your organization is responsible for verifying a driver’s qualifications before entrusting him or her with a vehicle. Do not entrust a bad driver with a vehicle—not even for a quick errand.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Keeping Premiums Down</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The best way to keep your BACF premiums down is to avoid accidents. Driving safety should be emphasized. Drivers should not be so pressured to produce that they feel compelled to drive unsafely. All vehicles should be well maintained</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.iii.org/publications/insuring-your-business-small-business-owners-guide-to-insurance/specific-coverages/business-vehicle-insurance\">click here</a>.</p>\n<!-- /wp:paragraph -->','Business Vehicle Insurance','','publish','closed','closed','','business-vehicle-insurance','','','2021-09-14 19:18:33','2021-09-14 19:18:33','',0,'http://smartinsurance.tips/?page_id=1936',0,'page','',0),(1937,1,'2021-09-14 19:16:43','2021-09-14 19:16:43','','My-Post-21','','inherit','open','closed','','my-post-21','','','2021-09-14 19:16:43','2021-09-14 19:16:43','',1936,'http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-21.png',0,'attachment','image/png',0),(1938,1,'2021-09-14 19:18:32','2021-09-14 19:18:32','<!-- wp:gallery {\"ids\":[1937],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-21-1024x536.png\" alt=\"\" data-id=\"1937\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-21.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1937\" class=\"wp-image-1937\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading -->\n<h2>What Is Business Vehicle Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As a businessowner, you need some of the same insurance coverages for the cars, trucks, vans or other vehicles you use in your business as you do for vehicles used for personal travel.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Your Businessowners Policy (BOP) does not provide any coverage for vehicles, so you must have a separate policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Most states require you to purchase liability insurance for bodily injury and property damage that may result from a vehicle accident occurring while you or someone from your organization is driving on business. Many states also require you to have uninsured/underinsured motorists coverage and/or medical payments coverage (known as Personal Injury Protection (PIP) in some states). You can also purchase physical damage coverage for vehicles your business owns, leases or hires.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The Business Auto Coverage Form (BACF) is the most commonly used contract for providing business auto liability insurance.&nbsp; Although the form refers only to “autos,” autos are defined to include cars, trucks, trailers, vans or other vehicles designed for use on public roads.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Each vehicle you use in your business can be separately “scheduled,” or listed on your policy along with corresponding coverages. In other words, you can choose different coverages, for your various vehicles, depending on the vehicle’s characteristics and the coverage you need for it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Do I Need a Business Auto Policy?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Your insurance agent will ask in detail how you use vehicles in your business; who will be driving them; whether you own, rent or lease; and whether you and your employees are likely to be driving their own cars for your business. The answers to these questions will indicate the types of coverage you need.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In general, only a BACF can provide the level of liability protection—the recommended minimum is $500,000—that even a small business needs to cover the potential damages in a serious accident.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Will My Personal Auto Policy Cover Business Use?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Your personal auto policy provides coverage for some business use of your vehicle. Similarly, your employees’ personal auto policies cover some business use of their vehicles too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A personal auto policy is unlikely to provide coverage, however, if the vehicle in question is used&nbsp;<em>primarily</em>&nbsp;in business. It will not provide coverage for any vehicle owned by a business. The personal auto policy, whether yours or your employee’s, may not have enough coverage to protect your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, imagine you are driving your car to a business meeting while having an intense conversation on your cell phone with one of your sales reps. By the time you notice a van ahead of you has stopped to make a left turn, it’s too late to avoid a collision. The driver and five passengers are injured in the accident. They sue you and your company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you have only a personal auto policy, your insurer will probably defend you personally and pay the claim—up to the policy limit. Your personal auto policy insurer will not defend or pay damages on behalf of your business, however.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For a very serious accident or one with a number of injured people, your personal auto policy may not be enough to cover the damages. In that event, the injured parties would likely sue to collect damages from your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you or your employees are driving personal vehicles on business and relying on your personal auto policies, be sure you and they have sufficient liability coverage to protect your business in the event of a serious auto accident.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Do not expect to rely on a personal umbrella policy for any claims that arise from business use of a vehicle. Typically, the personal umbrella excludes all claims occurring in the course of a business endeavor.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What Vehicles Are Covered?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The scope of coverage in the business auto policy can be either broad or narrow, depending on your choice of options. It could, for example, be written to apply only to one specifically described auto. Or, as an example of very broad coverage, the policy could be written to apply to the named insured\'s liability exposures arising out of the use of any auto.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In general, you have three options for which vehicles you choose to cover.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Autos your business owns</li><li>All autos your business owns, hires or leases</li><li>All autos used for the business, including those that your business does not own, hire or lease</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Most businesses should buy the third type, since that is the only coverage that protects the business from liability when an employee or owner is driving a personal vehicle on business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Be Sure the Right Insured Is on the Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>An insurance contract usually requires that the owner of a vehicle be named in the policy \"Declarations\" as the “principal insured.” If you drive any of the same vehicles for both business and pleasure, make sure you tell your insurance agent who holds the vehicle’s title, you personally or your company. This will avoid problems if you need to file a claim or a claim is filed against you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Physical Damage Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The three types of physical damage coverage for motor vehicles are collision, comprehensive and specified perils.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Collision coverage is for losses that result from the collision of a covered vehicle with any object or from the vehicle overturning.</li><li>Comprehensive coverage is the broadest form of auto physical damage coverage, because it provides for losses from any cause except collision and overturn (insured under collision coverage) and a few policy exclusions, such as wear and tear, mechanical breakdown and acts of war. Among the causes of loss covered under comprehensive are flood, fire, theft, glass breakage, falling objects, explosion, earthquake or colliding with a wild bird or animal.</li><li>Specified perils coverage covers many of the same perils as comprehensive, but because it covers only “named” perils—those specifically named in the policy—it has a lower premium. It is sometimes referred to as “fire, theft and Combined Additional Coverage (CAC)”</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>If your businesses has a large fleet of vehicles, over time, it may be more costly to insure the fleet for physical damage than it is to retain the risk, that is, pay for any physical damage directly rather than by insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Regardless of how many vehicles your business has, it may be cost effective to carry physical damage coverage only on the newer or more valuable vehicles.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What Will the Insurer Pay for Physical Damage?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The amount an insurer will pay on an auto physical damage or theft claim depends on the market value, known as Actual Cash Value (ACV), of the vehicle at the time of the loss. The most that will be paid is the lesser of the ACV or the cost to repair or replace the vehicle with one of like kind and quality. In the event of a total loss, the ACV is adjusted for depreciation and the vehicle’s physical condition. Thus, the older the vehicle and the worse its condition, the more its value has depreciated and the less the insurer will pay.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The insurance company may pay you the value of the loss in money or, at its choice, it may repair or replace the damaged or stolen vehicle. In case of a theft, it may return the stolen vehicle to you with payment for any damage caused by the theft.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Liability Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The liability portion of the BACF obligates the insurer to pay all damages the business is legally obligated to pay because of bodily injury or property damage caused by a covered vehicle, up to the policy limits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>When there is an auto liability lawsuit against the insured business, where the loss is covered by the policy, the insurer is obligated to defend the business or settle the lawsuit. The decision whether to contest or settle the case is entirely at the insurer’s discretion.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The insurer’s duty to defend or settle ends when the insurance policy limits are exhausted. By way of example, imagine that three people are injured in an accident in which you or one of your employees is at fault. The policy limit is exhausted in judgments or settlements for the first two claimants. That leaves your business liable to pay the award directly, should there be a judgment in favor of the third person.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Punitive damages may be awarded in cases of gross negligence, such as drunk or reckless driving. By law in a number of states, a BACF cannot cover any punitive damages for which you may be liable. Even in states where coverage for punitive damages is allowed, your policy may exclude them.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>How Much Liability Coverage Does My Business Need?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Many insurers recommend a business auto coverage limit of $1,000,000, with $500,000 as the minimum. The higher limit does not add a great deal to the premium, considering the amount of additional protection it provides.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What is a Combined Single Limit (CSL)?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Unlike personal auto policies that have separate limits for bodily injury and property damage liability (split limits), the BACF commonly has a Combined Single Limit (CSL). This creates higher limits for both bodily injury and property damage coverages, including per occurrence limits. Although you can purchase other limits, the most common commercial automobile CSLs for a small business are $500,000 and $1,000,000.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Does a Business Umbrella Cover Autos?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have a business umbrella policy, it would provide protection for owned, hired and non-owned autos, if the umbrella shows the auto liability policy as an underlying policy for which it provides coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What Coverage Do I Need if My Employees Use Company Vehicles for Personal Business?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Some businesses let employees drive company vehicles home and use them for personal purposes in the evenings or on weekends. So long as these vehicles are scheduled on your business auto policy and the appropriate “coverage auto symbols” are shown on the \"Declarations\" page, you have coverage for owned autos taken home by employees.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Employees’ own personal auto policies will not cover their use of a company car unless the car has been specifically borrowed as a temporary replacement for the employee’s own car while it is unavailable. In addition, employees who lease, hire, rent or borrow autos for their personal use are not covered by their employer’s business auto policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>When Your Business Vehicle Is Also Your Personal Vehicle</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Sometimes employees or executives of a company or other persons who are supplied with a vehicle owned by the company have only that vehicle. They do not own a personal vehicle nor do they obtain personal automobile coverage. The BACF does not cover personal use of the vehicle in this situation. To close this coverage gap, you need to add the Drive Other Car Coverage Endorsement to your BACF. This provides insurance while the named individual or a member of his or her family is driving a car borrowed from a third party.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What Coverage Do I Need if Employees Drive Their Personal Vehicles on Business?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If your employees drive their own cars for business purposes—to visit clients, for example—your business could wind up liable for property damage and bodily injuries resulting from a traffic accident for which an employee was at fault.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Sometimes businessowners don’t notice they have this exposure. Consider these scenarios:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Your office manager stops by the office supply store to pick up some items for work on her way back from lunch.</li><li>On the way home, a supervisor stops by a client’s office to leave a product sample.</li><li>While on vacation, a salesperson driving his personal vehicle makes a brief stop to visit a customer.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>These are all situations where a business can find itself liable for an auto accident with damages higher than the policy limit of the employee’s personal auto policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To protect your business from these liability risks, you can add the Non-owned Auto Liability Endorsement to your BACF. It provides coverage when employees drive their own vehicles on business. This BACF coverage is excess over the limits provided by the employee’s personal auto coverage. If the employee’s limits are low—such as only to satisfy state financial responsibility limits—then it is critically important for the business to have this non-owned auto protection.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>You Are Liable if You Allow a Bad Driver on the Road</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You are legally liable when you allow someone to drive one of your vehicles. If you fail to take reasonable steps to determine that the driver is qualified to drive or if you allow someone to drive whom you know has a poor driving record and that person causes an accident, you could be liable for negligent entrustment. Any damages awarded for negligent entrustment would be on top of liability for the accident itself.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A case of negligent entrustment arises when someone allows another person to use a vehicle knowing or having reason to know that the use of the vehicle by that person creates a risk of harm to others.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Your organization is responsible for verifying a driver’s qualifications before entrusting him or her with a vehicle. Do not entrust a bad driver with a vehicle—not even for a quick errand.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Keeping Premiums Down</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The best way to keep your BACF premiums down is to avoid accidents. Driving safety should be emphasized. Drivers should not be so pressured to produce that they feel compelled to drive unsafely. All vehicles should be well maintained</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.iii.org/publications/insuring-your-business-small-business-owners-guide-to-insurance/specific-coverages/business-vehicle-insurance\">click here</a>.</p>\n<!-- /wp:paragraph -->','Business Vehicle Insurance','','inherit','closed','closed','','1936-revision-v1','','','2021-09-14 19:18:32','2021-09-14 19:18:32','',1936,'http://smartinsurance.tips/?p=1938',0,'revision','',0),(1939,1,'2021-09-14 19:24:30','2021-09-14 19:24:30','<!-- wp:gallery {\"ids\":[1940],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-22-1024x536.png\" alt=\"\" data-id=\"1940\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-22.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1940\" class=\"wp-image-1940\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>If you\'re renting an apartment or home, you\'ll need an insurance policy to cover your belongings. Your landlord\'s property insurance policy covers losses to the building itself; whether it\'s an apartment, a house, or a duplex. Your personal property and certain liabilities, however, are covered only through a renter\'s insurance policy that you, as a tenant, have to find and pay for. While 95% of homeowners have a homeowner\'s insurance policy, only 41% of renters have renter\'s insurance.1﻿﻿</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Why do so few renters have insurance? One explanation is that many people incorrectly assume they are covered by their landlord\'s policy. Another reason is that people underestimate the value of their belongings. If you add up the value of just your clothing and electronics, it probably wouldn\'t take long to get into the thousands of dollars.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>One more often overlooked reason is liability: If someone is injured in your house—a friend, neighbor, or the pizza delivery person—they could sue you. Even if you thought you didn\'t need insurance, here are six good reasons why you should get a renter\'s insurance policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>When renting a home, you\'ll need an insurance policy to cover your personal belongings known as renter\'s insurance.</li><li>Landlords have property insurance but those policies cover only the building, not your personal items within.</li><li>The majority of renters don\'t purchase renter\'s insurance, either because they don\'t think it is necessary or believe they are covered under the landlord\'s policy.</li><li>Reasons to purchase renter\'s insurance include its affordability, the coverage of losses to personal property, it might be required, it provides liability coverage, it covers your belongings when you travel, and it may cover additional expenses.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-8\">It\'s Affordable</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-9\">The average renter\'s insurance policy costs $180 a year in 2017 (latest figures), according to the National Association of Insurance Commissioners (NAIC). Your actual cost will depend on factors, including how much coverage you need, the type of coverage you choose, the amount of your deductible, and where you live.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-11\">It&nbsp;Covers Losses to Personal Property</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-12\">A renter’s insurance policy protects against losses to your personal property, including clothes, jewelry, luggage, computers, furniture, and electronics. Even if you don\'t own much, it can quickly add up to a lot more than you realize; and a lot more than you\'d want to pay to replace everything.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-14\">Renter\'s policies protect against a surprisingly long list of perils. A standard HO-4 policy designed for renters, for example, covers losses to personal property from perils including:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-16\"><li>Damage caused by aircraft</li><li>Damage caused by vehicles</li><li>Explosion</li><li>Falling objects</li><li>Fire or lightning</li><li>Riot or civil commotion</li><li>Smoke</li><li>Theft</li><li>Vandalism or malicious mischief</li><li>Volcanic eruption</li><li>Weight of ice, snow, or sleet</li><li>Windstorm or hail</li><li>Damage from water or steam from sources including household appliances, plumbing, heating, air conditioning, or fire-protective sprinkler systems</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">Losses resulting from floods and earthquakes are not covered in standard policies. A separate policy or rider is required for these perils. In addition, a separate rider might be needed to cover wind damage in areas&nbsp;prone to hurricanes. And renter’s insurance policies don\'t cover losses caused by your own negligence or intentional acts. For example, if you fall asleep with a lit cigarette and cause a fire, the policy most likely will not cover the damage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-20\">Your Landlord Might Require It</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-21\">Your landlord\'s insurance covers the structure itself and the grounds, but not your belongings. A growing number of landlords require tenants to purchase their own renter\'s insurance policies and they\'ll expect to see proof.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">This could be the landlord\'s idea, or it could be an \"order\" from the landlord\'s insurance company. The idea is that if the tenants are covered themselves, some responsibility can be shifted away from the landlord. If you need assistance finding or obtaining coverage, your landlord may be able to help.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-25\">It Provides Liability Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">Liability coverage is also included in standard renter’s insurance policies. This provides protection if someone is injured while in your home or if you (or another covered person) accidentally injure someone. It pays any court judgments as well as legal expenses, up to the policy limit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: You may have to pay a deductible on your policy before coverage kicks in.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Most policies provide at least $100,000 of liability coverage and a smaller amount for medical-payments coverage. You can request (and pay for) higher coverage limits if need be.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-32\">It Covers Your Belongings When You Travel</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-33\">Renter\'s insurance covers your personal belongings, whether they are in your home, car, or with you while you travel. Your possessions are covered from loss due to&nbsp;theft and other covered losses anywhere you travel in the world. Check your policy or ask your insurance agent for details on what constitutes \"other covered losses.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-35\">It May Cover Additional Living Expenses</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-36\">If your home becomes uninhabitable due to one of the covered perils, your renter\'s insurance policy may cover “additional living expenses,” including the cost associated with living somewhere else temporarily, food, and more. Check with your policy to find out how long&nbsp;it will&nbsp;cover additional living expenses, and if&nbsp;it caps the amount the company will pay.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-38\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-39\">Renter\'s insurance provides coverage for your personal belongings, whether they are in your home, car, or with you while you\'re on vacation. In addition, renter\'s insurance provides liability coverage in case someone is injured in your home or if you accidentally cause injury to someone.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Be sure you understand what your policy covers, and ask your agent about available discounts, deductibles, and coverage limits. For example, be sure you know whether your insurance provides replacement cost coverage (RCC) for your personal property or actual cash value (ACV).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The first will pay to replace your 15-year-old carpet, say, with a new one, at current market rates, while the second will only reimburse you for the value of a carpet that\'s 15 years old. Needless to say, RCC costs more.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/articles/personal-finance/082714/6-good-reasons-get-renters-insurance.asp\">click here</a>.</p>\n<!-- /wp:paragraph -->','6 Good Reasons to Get Renter\'s Insurance','','publish','closed','closed','','6-good-reasons-to-get-renters-insurance','','','2021-09-14 19:24:31','2021-09-14 19:24:31','',0,'http://smartinsurance.tips/?page_id=1939',0,'page','',0),(1940,1,'2021-09-14 19:21:22','2021-09-14 19:21:22','','My-Post-22','','inherit','open','closed','','my-post-22-2','','','2021-09-14 19:21:22','2021-09-14 19:21:22','',1939,'http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-22.png',0,'attachment','image/png',0),(1941,1,'2021-09-14 19:24:30','2021-09-14 19:24:30','<!-- wp:gallery {\"ids\":[1940],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-22-1024x536.png\" alt=\"\" data-id=\"1940\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-22.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1940\" class=\"wp-image-1940\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>If you\'re renting an apartment or home, you\'ll need an insurance policy to cover your belongings. Your landlord\'s property insurance policy covers losses to the building itself; whether it\'s an apartment, a house, or a duplex. Your personal property and certain liabilities, however, are covered only through a renter\'s insurance policy that you, as a tenant, have to find and pay for. While 95% of homeowners have a homeowner\'s insurance policy, only 41% of renters have renter\'s insurance.1﻿﻿</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Why do so few renters have insurance? One explanation is that many people incorrectly assume they are covered by their landlord\'s policy. Another reason is that people underestimate the value of their belongings. If you add up the value of just your clothing and electronics, it probably wouldn\'t take long to get into the thousands of dollars.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>One more often overlooked reason is liability: If someone is injured in your house—a friend, neighbor, or the pizza delivery person—they could sue you. Even if you thought you didn\'t need insurance, here are six good reasons why you should get a renter\'s insurance policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>When renting a home, you\'ll need an insurance policy to cover your personal belongings known as renter\'s insurance.</li><li>Landlords have property insurance but those policies cover only the building, not your personal items within.</li><li>The majority of renters don\'t purchase renter\'s insurance, either because they don\'t think it is necessary or believe they are covered under the landlord\'s policy.</li><li>Reasons to purchase renter\'s insurance include its affordability, the coverage of losses to personal property, it might be required, it provides liability coverage, it covers your belongings when you travel, and it may cover additional expenses.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-8\">It\'s Affordable</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-9\">The average renter\'s insurance policy costs $180 a year in 2017 (latest figures), according to the National Association of Insurance Commissioners (NAIC). Your actual cost will depend on factors, including how much coverage you need, the type of coverage you choose, the amount of your deductible, and where you live.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-11\">It&nbsp;Covers Losses to Personal Property</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-12\">A renter’s insurance policy protects against losses to your personal property, including clothes, jewelry, luggage, computers, furniture, and electronics. Even if you don\'t own much, it can quickly add up to a lot more than you realize; and a lot more than you\'d want to pay to replace everything.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-14\">Renter\'s policies protect against a surprisingly long list of perils. A standard HO-4 policy designed for renters, for example, covers losses to personal property from perils including:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-16\"><li>Damage caused by aircraft</li><li>Damage caused by vehicles</li><li>Explosion</li><li>Falling objects</li><li>Fire or lightning</li><li>Riot or civil commotion</li><li>Smoke</li><li>Theft</li><li>Vandalism or malicious mischief</li><li>Volcanic eruption</li><li>Weight of ice, snow, or sleet</li><li>Windstorm or hail</li><li>Damage from water or steam from sources including household appliances, plumbing, heating, air conditioning, or fire-protective sprinkler systems</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">Losses resulting from floods and earthquakes are not covered in standard policies. A separate policy or rider is required for these perils. In addition, a separate rider might be needed to cover wind damage in areas&nbsp;prone to hurricanes. And renter’s insurance policies don\'t cover losses caused by your own negligence or intentional acts. For example, if you fall asleep with a lit cigarette and cause a fire, the policy most likely will not cover the damage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-20\">Your Landlord Might Require It</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-21\">Your landlord\'s insurance covers the structure itself and the grounds, but not your belongings. A growing number of landlords require tenants to purchase their own renter\'s insurance policies and they\'ll expect to see proof.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">This could be the landlord\'s idea, or it could be an \"order\" from the landlord\'s insurance company. The idea is that if the tenants are covered themselves, some responsibility can be shifted away from the landlord. If you need assistance finding or obtaining coverage, your landlord may be able to help.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-25\">It Provides Liability Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">Liability coverage is also included in standard renter’s insurance policies. This provides protection if someone is injured while in your home or if you (or another covered person) accidentally injure someone. It pays any court judgments as well as legal expenses, up to the policy limit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: You may have to pay a deductible on your policy before coverage kicks in.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Most policies provide at least $100,000 of liability coverage and a smaller amount for medical-payments coverage. You can request (and pay for) higher coverage limits if need be.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-32\">It Covers Your Belongings When You Travel</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-33\">Renter\'s insurance covers your personal belongings, whether they are in your home, car, or with you while you travel. Your possessions are covered from loss due to&nbsp;theft and other covered losses anywhere you travel in the world. Check your policy or ask your insurance agent for details on what constitutes \"other covered losses.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-35\">It May Cover Additional Living Expenses</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-36\">If your home becomes uninhabitable due to one of the covered perils, your renter\'s insurance policy may cover “additional living expenses,” including the cost associated with living somewhere else temporarily, food, and more. Check with your policy to find out how long&nbsp;it will&nbsp;cover additional living expenses, and if&nbsp;it caps the amount the company will pay.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-38\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-39\">Renter\'s insurance provides coverage for your personal belongings, whether they are in your home, car, or with you while you\'re on vacation. In addition, renter\'s insurance provides liability coverage in case someone is injured in your home or if you accidentally cause injury to someone.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Be sure you understand what your policy covers, and ask your agent about available discounts, deductibles, and coverage limits. For example, be sure you know whether your insurance provides replacement cost coverage (RCC) for your personal property or actual cash value (ACV).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The first will pay to replace your 15-year-old carpet, say, with a new one, at current market rates, while the second will only reimburse you for the value of a carpet that\'s 15 years old. Needless to say, RCC costs more.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/articles/personal-finance/082714/6-good-reasons-get-renters-insurance.asp\">click here</a>.</p>\n<!-- /wp:paragraph -->','6 Good Reasons to Get Renter\'s Insurance','','inherit','closed','closed','','1939-revision-v1','','','2021-09-14 19:24:30','2021-09-14 19:24:30','',1939,'http://smartinsurance.tips/?p=1941',0,'revision','',0),(1942,1,'2021-09-14 19:31:45','2021-09-14 19:31:45','<!-- wp:gallery {\"ids\":[1943],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-23-1024x536.png\" alt=\"\" data-id=\"1943\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-23.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1943\" class=\"wp-image-1943\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>For homeowners who want basic protection, an H03 policy will suffice. But for homeowners looking for the most protection and the highest coverage limits, a premium H05 policy is the best bet.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With most home insurance, such as an H03 policy, you are required to prove that your personal property claim happened due to one of the named perils (insurance-speak for specific dangers) listed on your policy. However, with a premium policy, such as an H05, the onus is on the insurance company. The only way you won\'t get reimbursed for personal property damages is if the peril is specifically exempted from your policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>The difference between the H03 policy and the H05 policy for homeowners is what perils or dangers to your home are covered.</li><li>A basic H03 policy covers all risks to the building structure, including the outside of the building; personal property, including everything in your home, is only covered if it falls under the policy\'s named perils.</li><li>With a premium H05 policy, all risks to the building structure and personal property are covered, but all personal property, or everything in your home—unless it falls under the list of perils that are specifically excluded.</li><li>H03 policies are less costly than H05 policies because they cover less, and put the burden of proof of a claim on the homeowner.</li><li>For most homeowners, H03 policies are sufficient. HO5 policies benefit those with a lot of high-value belongings and expensive personal property.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-6\">Basic H03 Policy vs. Premium HO5 Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-7\">The most common sort of homeowners insurance, an HO3 policy, regards all risk to the actual building structure of your home, meaning you\'d be insured for any peril that could happen to the outside of your home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-9\">Peril, in terms of insurance coverage, is defined as something that could destroy or cause damage to your property. A burst pipe, fire, hurricanes, or tornadoes are all perils.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Named perils mean the perils you are covered for that are specifically mentioned in your insurance policy contract. If you are covered for all perils except those mentioned as exemptions, you are getting an open perils policy. All risk is also called \"open peril,\" because unless a specific peril is excluded you are covered. However, your personal property, the contents of your home (i.e., your stereo, computer, and furniture) are only covered by named perils in an H03 policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Warning: It\'s common in H03 policies for personal property to only be covered for its cash value—its current worth, as a used or depreciated item—and not its replacement value, the cost of a new, comparable item.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In an HO5 policy, both personal property and your home are covered under an open perils policy. Thus, if you have a claim due to anything that causes damage to your personal property within your home, you wouldn\'t have to prove that it happened because of a named peril. For instance, if your roof develops a water leak and your property is damaged, you do not have to prove that it happened based on a reason covered by your policy, such as hail. If the peril is not specifically excluded, you are covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-17\">Perils Covered With an HO3 Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">There are 16 named perils that are generally insured against in a typical H03 (traditional) policy. This covers most incidents that can happen and is good enough that most people end up with this policy in order to avoid higher insurance premiums. Some of the perils that may be included in H03 are vandalism, damage from thawing ice, mold, theft, and volcanic eruption.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-20\">Types of HO3 Coverage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-21\">Coverage by HO3 insurance policies usually falls into five basic categories: A, B, C, D, and&nbsp;E.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-23\"><li><strong>Coverage A</strong>:&nbsp;This refers to the actual physical building you live in and any attached structures, like a porch, deck, or garage. Your home is usually covered on an open peril basis.</li><li><strong>Coverage B</strong>:&nbsp;This covers other structures on your property, such as things that are unattached to your home: detached garages, sheds, fences, swimming pools, and tennis courts. Typically, these other structures are insured for up to 10% of your Coverage A amount, though you can increase it.</li><li><strong>Coverage C</strong>:&nbsp;This applies to the contents of your home—your furnishings, appliances, and other personal property. Unlike your home, which is covered for open perils, your contents are covered for named perils only—occurrences specifically listed&nbsp;on the policy. If it’s not listed, it’s not covered.</li><li><strong>Coverage D</strong>:&nbsp;Commonly referred to as \"loss of use\" coverage, this applies if your home becomes uninhabitable. It covers the costs of staying in a hotel and any additional living expenses you incur. This coverage is usually on a named peril basis and is either limited to a certain period of time or 10% of Coverage A.</li><li><strong>Coverage E</strong>:&nbsp;This is the personal liability portion of your policy—protecting you if something happens to someone else or someone\'s property, or other situations where you’d be deemed at fault. Typically, it covers any legal fees or court costs paying the damages you’re responsible for.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-25\">Reasons to Get an HO5 Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">H05 policies do tend to be more expensive than the more standard H03. If you have fantastic credit and the difference in price is relatively small, the investment may be worth it though.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-28\">First, HO5 policies give you no fuss, no muss insurance; they are inclusive rather than exclusive coverage for your property and goods. When making a claim, you don\'t have to jump through hoops to prove you\'re covered; rather, the burden of proof\'s on the insurance carrier to say you aren\'t.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-30\">A more specific benefit of an HO5 is that you are covered in additional circumstances and for the maximum amount (i.e., replacement value) for damage to your personal property. So it is especially invaluable if you own a lot of high-value items.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>How to tell if an HO5 is worth it? Go around your home with a pad and paper and write down everything you own. Then, write down what you think each item is worth. Then, go online to find the replacement cost if you had to buy that same item new, today. Total the values and now that you know what your stuff is worth, you can decide whether you need an HO5 policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: Insurance policy names can vary from state to state, so if you are looking for an HO5, explain to the insurance agents or brokers that you want a policy that includes all risks, or open peril coverage, for personal property.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-36\">HO5 Exclusions</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-37\">Before you become a complete convert to the HO5 policy, there are some caveats to consider.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-39\">One is that you may not qualify. HO5 policies tend to be for newer homes, or those located in low-risk neighborhoods (nothing in a flood zone or landslide-prone area). High property values help too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-41\">Also, while HO5 policies are more comprehensive, even they don\'t cover everything. In fact, there are several common exclusions, as they\'re called, including damage due to:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-43\"><li>Earth movement</li><li>Ordinance or law</li><li>Water damage from&nbsp;outside: flood, sewer backup</li><li>Power failure</li><li>War</li><li>Nuclear hazard</li><li>Intentional loss</li><li>Government action</li><li>Collapse</li><li>Theft if the structure is under construction</li><li>Vandalism or malicious mischief if the home is vacant more than 60 days</li><li>Mold, fungus, or wet rot (with some exceptions)</li><li>Neglect, wear and tear, and deterioration</li><li>Mechanical breakdown</li><li>Smog, rust, and corrosion</li><li>Smoke from agricultural smudging and industrial operations</li><li>Discharge, dispersal, or seepage of pollutants</li><li>Settling, shrinking, bulging, or expanding of your home’s foundation</li><li>Infestation of birds, vermin, rodents, or insects</li><li>Animals you own</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-45\">Questions to Ask About Any Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-46\">No matter whether you choose an HO3 or an HO5 homeowner\'s policy, you should ask your agent or broker these questions:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-48\"><li><em>What are the exact exemptions?&nbsp;</em>Even if you have an HO5 policy, you could have exemptions—things or situations not covered in your policy—as noted above.</li><li><em>Is replacement value or cash value covered?</em>&nbsp;If you are covered for replacement value instead of cash value, you are paid enough to buy the item new instead of what the item is worth at the time it is damaged.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-50\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-51\">HO5 policies protect you from your insurance company not reimbursing for certain types of personal property damage. However, opting for this more expensive coverage policy depends on how much your possessions are worth, and if you can afford the additional premium. No matter what insurance policy you choose, ask specific questions about what items are not covered. You don\'t want to shell out the extra cash for an HO5 policy and then discover that what damages your property is the one thing that is not covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-53\">HO5 FAQs</h2>\n<!-- /wp:heading -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-54\">What Are HO4, HO6 and HO8 Insurance Policies?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-55\">An HO4 insurance policy, popularly known as renters insurance, provides coverage of personal property for tenants—those who lease (rather than own) their residence.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-57\">An HO6 insurance policy is the most common type of coverage for condominiums, cooperatives, and townhouses. Commonly called Condo Insurance or Townhouse Insurance, it generally doesn\'t cover the overall building structure.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-59\">An HO8 insurance policy refers to the most basic homeowners coverage, typically protecting only against catastrophic losses. Designed for older homes, it specifies only 10 named perils (versus 16 in other policies).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-61\">What Are the 16 Named Perils?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-62\">The 16 named perils are events or things cited in a homeowners insurance policy; the damage or destruction they cause will be covered by that policy. Standard across most carriers, these perils include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-64\"><li>Fire and lightning</li><li>Windstorm and hail</li><li>Volcanic eruption</li><li>Explosion</li><li>Smoke</li><li>Weight of ice and snow</li><li>Riots</li><li>Aircraft</li><li>Vehicles</li><li>Vandalism</li><li>Theft</li><li>Falling objects</li><li>Accidental discharge or overflow of water or steam</li><li>Freezing of household appliances, plumbing, heating, air conditioning, or fire sprinkler systems</li><li>Accidental cracking, burning, tearing, or bulging of plumbing fixtures, HVAC systems, or fire sprinklers</li><li>Sudden and accidental damage due to short-circuiting</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-66\">What Are the 3 Basic Levels of Coverage That Exist for Homeowners Insurance?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-67\">Homeowners insurance offers three levels or tiers of coverage for the residence and personal property.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Actual cash value </strong>covers the cost of the house plus the value of your belongings after deducting depreciation (i.e., how much the items are currently worth, not how much you paid for them).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Replacement value</strong> covers the replacement cost of your home and possessions—the current prices you pay for new, comparable things, so you\'re able to repair or rebuild your home up to the original value. Of course, you can\'t spend more than the overall amount of insurance you\'ve taken out.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Guaranteed or extended replacement cost/value </strong>is inflation-buffer coverage that pays for whatever it costs to repair or rebuild your home—even if it\'s more than your policy limit. Certain insurers offer an extended replacement, meaning it offers more coverage than you purchased, but there is a ceiling; typically, it is 20% to 25% higher than the limit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/articles/insurance/09/ho5-home-insurance.asp\">click here</a>.</p>\n<!-- /wp:paragraph -->','With HO5 Insurance, You\'re in Charge','','publish','closed','closed','','with-ho5-insurance-youre-in-charge','','','2021-09-14 19:31:46','2021-09-14 19:31:46','',0,'http://smartinsurance.tips/?page_id=1942',0,'page','',0),(1943,1,'2021-09-14 19:27:52','2021-09-14 19:27:52','','My-Post-23','','inherit','open','closed','','my-post-23-2','','','2021-09-14 19:27:52','2021-09-14 19:27:52','',1942,'http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-23.png',0,'attachment','image/png',0),(1944,1,'2021-09-14 19:31:45','2021-09-14 19:31:45','<!-- wp:gallery {\"ids\":[1943],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-23-1024x536.png\" alt=\"\" data-id=\"1943\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-23.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1943\" class=\"wp-image-1943\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>For homeowners who want basic protection, an H03 policy will suffice. But for homeowners looking for the most protection and the highest coverage limits, a premium H05 policy is the best bet.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With most home insurance, such as an H03 policy, you are required to prove that your personal property claim happened due to one of the named perils (insurance-speak for specific dangers) listed on your policy. However, with a premium policy, such as an H05, the onus is on the insurance company. The only way you won\'t get reimbursed for personal property damages is if the peril is specifically exempted from your policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>The difference between the H03 policy and the H05 policy for homeowners is what perils or dangers to your home are covered.</li><li>A basic H03 policy covers all risks to the building structure, including the outside of the building; personal property, including everything in your home, is only covered if it falls under the policy\'s named perils.</li><li>With a premium H05 policy, all risks to the building structure and personal property are covered, but all personal property, or everything in your home—unless it falls under the list of perils that are specifically excluded.</li><li>H03 policies are less costly than H05 policies because they cover less, and put the burden of proof of a claim on the homeowner.</li><li>For most homeowners, H03 policies are sufficient. HO5 policies benefit those with a lot of high-value belongings and expensive personal property.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-6\">Basic H03 Policy vs. Premium HO5 Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-7\">The most common sort of homeowners insurance, an HO3 policy, regards all risk to the actual building structure of your home, meaning you\'d be insured for any peril that could happen to the outside of your home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-9\">Peril, in terms of insurance coverage, is defined as something that could destroy or cause damage to your property. A burst pipe, fire, hurricanes, or tornadoes are all perils.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Named perils mean the perils you are covered for that are specifically mentioned in your insurance policy contract. If you are covered for all perils except those mentioned as exemptions, you are getting an open perils policy. All risk is also called \"open peril,\" because unless a specific peril is excluded you are covered. However, your personal property, the contents of your home (i.e., your stereo, computer, and furniture) are only covered by named perils in an H03 policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Warning: It\'s common in H03 policies for personal property to only be covered for its cash value—its current worth, as a used or depreciated item—and not its replacement value, the cost of a new, comparable item.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In an HO5 policy, both personal property and your home are covered under an open perils policy. Thus, if you have a claim due to anything that causes damage to your personal property within your home, you wouldn\'t have to prove that it happened because of a named peril. For instance, if your roof develops a water leak and your property is damaged, you do not have to prove that it happened based on a reason covered by your policy, such as hail. If the peril is not specifically excluded, you are covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-17\">Perils Covered With an HO3 Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">There are 16 named perils that are generally insured against in a typical H03 (traditional) policy. This covers most incidents that can happen and is good enough that most people end up with this policy in order to avoid higher insurance premiums. Some of the perils that may be included in H03 are vandalism, damage from thawing ice, mold, theft, and volcanic eruption.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-20\">Types of HO3 Coverage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-21\">Coverage by HO3 insurance policies usually falls into five basic categories: A, B, C, D, and&nbsp;E.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-23\"><li><strong>Coverage A</strong>:&nbsp;This refers to the actual physical building you live in and any attached structures, like a porch, deck, or garage. Your home is usually covered on an open peril basis.</li><li><strong>Coverage B</strong>:&nbsp;This covers other structures on your property, such as things that are unattached to your home: detached garages, sheds, fences, swimming pools, and tennis courts. Typically, these other structures are insured for up to 10% of your Coverage A amount, though you can increase it.</li><li><strong>Coverage C</strong>:&nbsp;This applies to the contents of your home—your furnishings, appliances, and other personal property. Unlike your home, which is covered for open perils, your contents are covered for named perils only—occurrences specifically listed&nbsp;on the policy. If it’s not listed, it’s not covered.</li><li><strong>Coverage D</strong>:&nbsp;Commonly referred to as \"loss of use\" coverage, this applies if your home becomes uninhabitable. It covers the costs of staying in a hotel and any additional living expenses you incur. This coverage is usually on a named peril basis and is either limited to a certain period of time or 10% of Coverage A.</li><li><strong>Coverage E</strong>:&nbsp;This is the personal liability portion of your policy—protecting you if something happens to someone else or someone\'s property, or other situations where you’d be deemed at fault. Typically, it covers any legal fees or court costs paying the damages you’re responsible for.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-25\">Reasons to Get an HO5 Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">H05 policies do tend to be more expensive than the more standard H03. If you have fantastic credit and the difference in price is relatively small, the investment may be worth it though.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-28\">First, HO5 policies give you no fuss, no muss insurance; they are inclusive rather than exclusive coverage for your property and goods. When making a claim, you don\'t have to jump through hoops to prove you\'re covered; rather, the burden of proof\'s on the insurance carrier to say you aren\'t.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-30\">A more specific benefit of an HO5 is that you are covered in additional circumstances and for the maximum amount (i.e., replacement value) for damage to your personal property. So it is especially invaluable if you own a lot of high-value items.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>How to tell if an HO5 is worth it? Go around your home with a pad and paper and write down everything you own. Then, write down what you think each item is worth. Then, go online to find the replacement cost if you had to buy that same item new, today. Total the values and now that you know what your stuff is worth, you can decide whether you need an HO5 policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: Insurance policy names can vary from state to state, so if you are looking for an HO5, explain to the insurance agents or brokers that you want a policy that includes all risks, or open peril coverage, for personal property.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-36\">HO5 Exclusions</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-37\">Before you become a complete convert to the HO5 policy, there are some caveats to consider.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-39\">One is that you may not qualify. HO5 policies tend to be for newer homes, or those located in low-risk neighborhoods (nothing in a flood zone or landslide-prone area). High property values help too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-41\">Also, while HO5 policies are more comprehensive, even they don\'t cover everything. In fact, there are several common exclusions, as they\'re called, including damage due to:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-43\"><li>Earth movement</li><li>Ordinance or law</li><li>Water damage from&nbsp;outside: flood, sewer backup</li><li>Power failure</li><li>War</li><li>Nuclear hazard</li><li>Intentional loss</li><li>Government action</li><li>Collapse</li><li>Theft if the structure is under construction</li><li>Vandalism or malicious mischief if the home is vacant more than 60 days</li><li>Mold, fungus, or wet rot (with some exceptions)</li><li>Neglect, wear and tear, and deterioration</li><li>Mechanical breakdown</li><li>Smog, rust, and corrosion</li><li>Smoke from agricultural smudging and industrial operations</li><li>Discharge, dispersal, or seepage of pollutants</li><li>Settling, shrinking, bulging, or expanding of your home’s foundation</li><li>Infestation of birds, vermin, rodents, or insects</li><li>Animals you own</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-45\">Questions to Ask About Any Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-46\">No matter whether you choose an HO3 or an HO5 homeowner\'s policy, you should ask your agent or broker these questions:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-48\"><li><em>What are the exact exemptions?&nbsp;</em>Even if you have an HO5 policy, you could have exemptions—things or situations not covered in your policy—as noted above.</li><li><em>Is replacement value or cash value covered?</em>&nbsp;If you are covered for replacement value instead of cash value, you are paid enough to buy the item new instead of what the item is worth at the time it is damaged.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-50\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-51\">HO5 policies protect you from your insurance company not reimbursing for certain types of personal property damage. However, opting for this more expensive coverage policy depends on how much your possessions are worth, and if you can afford the additional premium. No matter what insurance policy you choose, ask specific questions about what items are not covered. You don\'t want to shell out the extra cash for an HO5 policy and then discover that what damages your property is the one thing that is not covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-53\">HO5 FAQs</h2>\n<!-- /wp:heading -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-54\">What Are HO4, HO6 and HO8 Insurance Policies?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-55\">An HO4 insurance policy, popularly known as renters insurance, provides coverage of personal property for tenants—those who lease (rather than own) their residence.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-57\">An HO6 insurance policy is the most common type of coverage for condominiums, cooperatives, and townhouses. Commonly called Condo Insurance or Townhouse Insurance, it generally doesn\'t cover the overall building structure.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-59\">An HO8 insurance policy refers to the most basic homeowners coverage, typically protecting only against catastrophic losses. Designed for older homes, it specifies only 10 named perils (versus 16 in other policies).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-61\">What Are the 16 Named Perils?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-62\">The 16 named perils are events or things cited in a homeowners insurance policy; the damage or destruction they cause will be covered by that policy. Standard across most carriers, these perils include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-64\"><li>Fire and lightning</li><li>Windstorm and hail</li><li>Volcanic eruption</li><li>Explosion</li><li>Smoke</li><li>Weight of ice and snow</li><li>Riots</li><li>Aircraft</li><li>Vehicles</li><li>Vandalism</li><li>Theft</li><li>Falling objects</li><li>Accidental discharge or overflow of water or steam</li><li>Freezing of household appliances, plumbing, heating, air conditioning, or fire sprinkler systems</li><li>Accidental cracking, burning, tearing, or bulging of plumbing fixtures, HVAC systems, or fire sprinklers</li><li>Sudden and accidental damage due to short-circuiting</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-66\">What Are the 3 Basic Levels of Coverage That Exist for Homeowners Insurance?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-67\">Homeowners insurance offers three levels or tiers of coverage for the residence and personal property.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Actual cash value </strong>covers the cost of the house plus the value of your belongings after deducting depreciation (i.e., how much the items are currently worth, not how much you paid for them).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Replacement value</strong> covers the replacement cost of your home and possessions—the current prices you pay for new, comparable things, so you\'re able to repair or rebuild your home up to the original value. Of course, you can\'t spend more than the overall amount of insurance you\'ve taken out.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Guaranteed or extended replacement cost/value </strong>is inflation-buffer coverage that pays for whatever it costs to repair or rebuild your home—even if it\'s more than your policy limit. Certain insurers offer an extended replacement, meaning it offers more coverage than you purchased, but there is a ceiling; typically, it is 20% to 25% higher than the limit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/articles/insurance/09/ho5-home-insurance.asp\">click here</a>.</p>\n<!-- /wp:paragraph -->','With HO5 Insurance, You\'re in Charge','','inherit','closed','closed','','1942-revision-v1','','','2021-09-14 19:31:45','2021-09-14 19:31:45','',1942,'http://smartinsurance.tips/?p=1944',0,'revision','',0),(1945,1,'2021-09-14 19:36:30','2021-09-14 19:36:30','<!-- wp:gallery {\"ids\":[1946],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-24-1024x536.png\" alt=\"\" data-id=\"1946\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-24.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1946\" class=\"wp-image-1946\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading -->\n<h2>What is special event insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Special event insurance is designed to provide financial protection if you have to cancel or postpone a gathering due to natural disasters that are outside of your control.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Though most often thought of in relation to weddings, special event insurance can be used to cover a 50<sup>th</sup>&nbsp;anniversary party, a bar mitzvah, a graduation party or any occasion that might require a significant financial outlay.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What does special event insurance cover?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Special event insurance covers cancellations necessitated by adverse weather and natural disasters, such as hurricanes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Most policies also provide coverage for cancellation due to the death, illness or serious injury of a key participant in the event, such as the groom or a member of the immediate family. Also, if an officiant (such as a minister or rabbi), or a key vendor (like the caterer, florist or photographer) does not show up, special event insurance allows you to recover some of the costs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Additional special event insurance riders may include coverage for:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Military service</strong> – Provides coverage in the event the bride or groom is in the military or active reserves and is suddenly called to duty.</li><li><strong>Gowns and tuxedos</strong> – Provides coverage if your bridal salon goes out of business, or if the clothing is damaged.</li><li><strong>Gifts</strong> – If gifts are not covered by your homeowners or renters insurance policy, this provides protection against their theft or damage.</li><li><strong>Honeymoon</strong> – Provides coverage if you need to cancel your trip due to illness, bad weather or other circumstances.</li><li><strong>Professional counseling</strong> – Covers treatment of severe emotional stress due to the cancellation or postponement of the event (a doctor’s note will be needed).</li><li><strong>Liability</strong> – Event venues generally have their own liability insurance. If you are holding the event at home, you may want to purchase liability insurance above and beyond what is provided under your homeowners policy.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>Before purchasing special event insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><li>Check to see whether any coverage is already provided through credit cards you might be using, or through your homeowners, auto insurance or any other policies you may already have.</li><li>Ask the insurance professional you\'re dealing with what, specifically, is and is not covered by the policy.</li><li>Ask how much the policy will cost and how much reimbursement you can expect if a loss occurs.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.iii.org/article/special-event-insurance\">click here</a>.</p>\n<!-- /wp:paragraph -->','Special event insurance','','publish','closed','closed','','special-event-insurance','','','2021-09-14 19:36:31','2021-09-14 19:36:31','',0,'http://smartinsurance.tips/?page_id=1945',0,'page','',0),(1946,1,'2021-09-14 19:34:12','2021-09-14 19:34:12','','My-Post-24','','inherit','open','closed','','my-post-24-2','','','2021-09-14 19:34:12','2021-09-14 19:34:12','',1945,'http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-24.png',0,'attachment','image/png',0),(1947,1,'2021-09-14 19:36:30','2021-09-14 19:36:30','<!-- wp:gallery {\"ids\":[1946],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-24-1024x536.png\" alt=\"\" data-id=\"1946\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/09/My-Post-24.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1946\" class=\"wp-image-1946\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading -->\n<h2>What is special event insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Special event insurance is designed to provide financial protection if you have to cancel or postpone a gathering due to natural disasters that are outside of your control.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Though most often thought of in relation to weddings, special event insurance can be used to cover a 50<sup>th</sup>&nbsp;anniversary party, a bar mitzvah, a graduation party or any occasion that might require a significant financial outlay.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>What does special event insurance cover?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Special event insurance covers cancellations necessitated by adverse weather and natural disasters, such as hurricanes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Most policies also provide coverage for cancellation due to the death, illness or serious injury of a key participant in the event, such as the groom or a member of the immediate family. Also, if an officiant (such as a minister or rabbi), or a key vendor (like the caterer, florist or photographer) does not show up, special event insurance allows you to recover some of the costs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Additional special event insurance riders may include coverage for:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li><strong>Military service</strong> – Provides coverage in the event the bride or groom is in the military or active reserves and is suddenly called to duty.</li><li><strong>Gowns and tuxedos</strong> – Provides coverage if your bridal salon goes out of business, or if the clothing is damaged.</li><li><strong>Gifts</strong> – If gifts are not covered by your homeowners or renters insurance policy, this provides protection against their theft or damage.</li><li><strong>Honeymoon</strong> – Provides coverage if you need to cancel your trip due to illness, bad weather or other circumstances.</li><li><strong>Professional counseling</strong> – Covers treatment of severe emotional stress due to the cancellation or postponement of the event (a doctor’s note will be needed).</li><li><strong>Liability</strong> – Event venues generally have their own liability insurance. If you are holding the event at home, you may want to purchase liability insurance above and beyond what is provided under your homeowners policy.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2>Before purchasing special event insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><li>Check to see whether any coverage is already provided through credit cards you might be using, or through your homeowners, auto insurance or any other policies you may already have.</li><li>Ask the insurance professional you\'re dealing with what, specifically, is and is not covered by the policy.</li><li>Ask how much the policy will cost and how much reimbursement you can expect if a loss occurs.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.iii.org/article/special-event-insurance\">click here</a>.</p>\n<!-- /wp:paragraph -->','Special event insurance','','inherit','closed','closed','','1945-revision-v1','','','2021-09-14 19:36:30','2021-09-14 19:36:30','',1945,'http://smartinsurance.tips/?p=1947',0,'revision','',0),(1951,1,'2021-10-14 20:51:01','2021-10-14 20:51:01','<!-- wp:gallery {\"ids\":[1950],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-1024x536.png\" alt=\"\" data-id=\"1950\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1950\" class=\"wp-image-1950\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Hosting a holiday get-together may feel more challenging right now, given the uncertainties with the pandemic.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Thinking of having people over, or doing something special just for your family for the holidays? You may feel a bit out of practice—and a little stressed out by that—as well. “But there’s an awful lot that can be done in advance,” says Jodie Watson, an organizing pro.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>And the truth is, you don’t have to do everything yourself. “No one wins awards for making their own piecrust,” Lilly Jan, a food and beverage expert, points out. In fact, time-savers abound. As Leslie Lampert, a chef, notes, “You can supplement a homemade menu with a handful of takeout items.” Here, you’ll find a bounty of simple tips and CR-tested tools to help you get ready for­­­—and enjoy—a special meal with those you love.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Planning</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Pin down the menu.&nbsp;</strong>This allows you to get a jump on everything else. A simple one to consider: Butternut squash soup, roast turkey or boneless ham, mashed potatoes, stuffing, roasted brussels sprouts, and pie.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Choose truly easy appetizers.</strong> To whet appetites without filling guests up, “stick to something simple and light, like spiced nuts or olives,” says Amy Keating, a registered dietitian at Consumer Reports. Or skip the formal soup course and serve soup shooters in espresso cups or shot glasses instead. Soups like butternut squash and potato leek can be served warm, at room temperature, or chilled.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Prepping</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Be appliance savvy.</strong> If more than one menu item requires a seldom used (and bulky) appliance like a stand mixer—think piecrust and cookies—prep them all at once so that you can stash the mixer away instead of pulling it out multiple times.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Chop in bulk. </strong>You’ll probably use the same staple veggies in more than one recipe, so cut up, say, all the garlic, onions, and carrots you’ll need at once. (A food processor can speed this up.) Store strong-smelling items in airtight containers, Keating says, “otherwise, foods like chopped onions can stink up the fridge, or worse, migrate into foods like butter.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Spread out your cooking.&nbsp;</strong>Cook some menu items a few days beforehand. “Dishes like sweet potatoes or stuffing can be made two to three days ahead,” Lampert says. (Soup, too.) Just reheat and serve on the day of the event. It’s best to cook turkey on the day of your gathering.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Use this go-to pot. </strong>Large, lidded, and versatile, Dutch ovens can be used to cook dishes in the oven or on the stove and then go into the fridge for storage. For your holiday meal, simply transfer the pot back to the range for reheating. Plus, “in our tests, Dutch ovens also retain heat, making them a great choice for serving, too, since your sides will stay warm on the table,” says Tara Casaregola, who’s in charge of CR’s cookware testing. “Use a trivet if you’re transferring directly from oven to table.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>The Gathering</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Organize all your nonfood items.</strong>&nbsp;At least a day before the meal, bust out any dishes, glasses, utensils, and serving platters you’ll need, says Kathi Lipp, a home-organizing expert and author. Wash anything you haven’t used in awhile, and “match” each food to cookware and serving pieces. And “check to see if the pots and pans you’ll need will all fit on the burners at once,” Casaregola says. In addition, be sure to have a dependable meat thermometer, like an instant-read digital model. CR\'s tests have found that the pop-up thermometers that often come with turkey may pop up before the bird reaches a safe temperature, says Sana Mujahid, PhD, manager of food safety research and testing at CR.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Neaten counters.&nbsp;</strong>Stash whatever you won’t need for the get-together, like canisters, advises Jodie Watson, owner of Supreme Organization in California. “Those sorts of items can be put away to give you more space to work in the kitchen and cut down on clutter,” she says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Do a table test run.</strong> Put the empty serving pieces you’re planning to use on the table to make sure everything will fit, suggests Lilly Jan, a lecturer on food and beverage management at the School of Hotel Administration at the Cornell SC Johnson College of Business. Once the arrangement is to your liking, snap a quick photo. That will help you place platters quickly and surely during the meal or let you pass the task on to someone else.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Put countertop appliances to work. </strong>These efficient devices can make cooking and reheating easier while freeing up oven and stovetop space, Casaregola says. Instead of roasting veggies in the oven, for instance, try an air fryer, which can quickly turn out tasty sides like cauliflower or asparagus. Use a toaster oven to warm up sides or breads and a slow cooker or multi-cooker for warming soups or hot dips. Bonus: The latter two can keep food warm for hours. Chafing dishes are also an easy way to keep food at the right temperature throughout your meal, Jan notes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Attend to last-minute concerns.</strong> Missing an ingredient? See whether a food </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>store is open nearby or whether you can use something else instead.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you forgot to defrost the turkey, you can roast it frozen. (It will take more time, at least 50 percent longer.) Carefully remove the bag of giblets inside the bird about 2 hours into cooking, says James E. Rogers, PhD, director of food safety research and testing at CR.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Add some music. </strong>Use multiroom speakers to create ambience. Allen St. John, CR’s guru on smart speakers, suggests linking a few WiFi-enabled Ikea Symfonisk speakers (starting at $99 each). For Bluetooth capability, sync them with a Sonos Roam ($170).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Let others pitch in.</strong> Jan suggests creating a list of the tasks you don’t necessarily need to tackle yourself. Kathi Lipp advises having someone make a playlist, for instance, or do the vacuuming. This can add to the holiday gathering in more than one way, she points out: “Everybody wants to help—and these are things that can make them feel involved and get excited about chipping in. It makes for a much better atmosphere and will give the host more time to enjoy the event, too.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As long as the weather isn’t frigid or stormy, you might be able to hold at least part of your holiday dinner outdoors. Three tips:<br><strong>SET THE SCENE.</strong> Add string lights, music, and cozy blankets, and if you have a fire pit, put it to use.<br><strong>HAVE COCKTAILS ALFRESCO.</strong> If you don’t want to do the whole meal among the stars, “putting the wine and beverages outside gives you time to finish up [meal prep] without guests interfering,” says Lilly Jan, a food and beverage expert.<br><strong>ADD A SPECIAL TOUCH.</strong> “Set up a hot chocolate bar where people can fill up their mugs,” says Kathi Lipp, a home-organizing expert. Or have the fixings for toasting s’mores. For a casual meal, serve slow-cooker chili or have your guests make pizzas in an outdoor pizza oven. “All of these things could be so fun,” Lipp says, “and might start your next tradition.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.consumerreports.org/holiday-planning-preparation/entertain-with-ease-this-holiday-season/\">click here</a>.</p>\n<!-- /wp:paragraph -->','Entertain With Ease This Season','','inherit','closed','closed','','1949-revision-v1','','','2021-10-14 20:51:01','2021-10-14 20:51:01','',1949,'http://smartinsurance.tips/?p=1951',0,'revision','',0),(1952,1,'2021-10-14 21:06:25','2021-10-14 21:06:25','<!-- wp:gallery {\"ids\":[1953],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-1-1024x536.png\" alt=\"\" data-id=\"1953\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-1.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1953\" class=\"wp-image-1953\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"wecAyw\">If you\'re an avid DIYer, you\'re already on your way to saving money. But with the right planning, you can transform the feel of a whole room with a single project that only costs you a few hundred bucks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"DWnVLz\">Easy Home Upgrades You Can Do on a Budget</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"zgo7US\">Pick from our round-up of value-boosting upgrades that all come in under the $500 mark—some&nbsp;<em>well</em>&nbsp;under. Not only will they be soft on your wallet now, but some of these will even save you money in the future. Check out our easy home improvement ideas below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"qBZ31k\">1. Refresh Your Rooms With Paint</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"etAbWW\">You can give your drab, washed-out walls a burst of brilliant depth (or wash away your decorating sins with virgin white) just by picking up a paint can and having at them. That\'s the power of a coat of paint: It rearranges your reality. Which is why painting is the most oft-tackled DIY home-improvement upgrade.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"yDT6nc\">While you don\'t have to be a pro to learn how to paint like one, there is more to a good paint job than just slathering some color on the wall. See our how to instructions to coat your walls expertly in one weekend, from the first scratch of the pole sander to the final feather of the brush.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"j797HX\"><strong>Cost:</strong> About $150</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"pWJTwi\">2. Add Crown Molding the Easy Way</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Crown molding makes it to the top of most remodeling lists because it adds charm and value to a home, not because people enjoy spending a Saturday try­ing to get the corners just right. Luckily, there\'s a simple way to beat miter-saw frustration.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Trimroc molding from Canamould Extrusions is a lightweight polystyrene foam coated in hard plaster. It cuts smoothly with a handsaw and it goes up in a flash with joint compound. No coping, no tricky angles, and ragged joints disappear with a dab of mud. So in just a weekend, you can upgrade a plain room to an elegant space—and still leave plenty of time for the rest of your list.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Cost: About $120.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"GK4qxV\">3. Install a Low-Cost Stair Runner</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"MdGsJ7\">Want to get a good grip on slippery stairs? Try a DIY runner. After getting a quote of $2,500 to carpet her dangerously slick oak staircase,&nbsp;<em>TOH</em>&nbsp;reader Jaime Shackford took the project into her own hands. Using just two off-the-shelf woven runners ($125 each) and supplies from a home center, she gave her stairs an non-slip upgrade.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"eVLMMB\"><strong>Cost:</strong> About $300.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"S7oneR\">4. Install a Dishwasher to Conserve Water</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"xD3EPp\">That old dishwasher could be wreaking havoc on your electric and water bills. Time to switch it out for a new Energy Star-qualified dishwasher, which can save you more than $30 a year on power and almost 500 gallons of water. If you don\'t have a dishwasher at all, you\'re using 40 percent more water washing by hand!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"VJgVs4\">The biggest cost saver of all? You can install a dishwasher yourself in an afternoon. No plumber, no electrician—and no worries that you\'re squandering your retirement money on a load of clean dishes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"yNjaaJ\"><strong>Cost:</strong> About $450+</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"i1MGO8\">5. Rewire a Vintage Entry Lantern</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"3Ezd4s\">Many hanging lanterns from the first half of the 20th century were humble by design, looking as if they\'d been crafted by blacksmiths rather than machines.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"I4ntLu\">Popularized by tastemakers of the time, such as Gustav Stickley and the Roycroft crafters, these rustic lanterns exemplified a back-to-basics design sensibility. If you\'ve scored one such find at a yard sale or have one stashed in the attic, you can invite guests to \"come on in\" by putting back into service a vintage lantern. It\'s an easy, affordable job once you get the parts.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"RDTWgj\"><strong>Cost:</strong> About $140.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"6wCrw4\">6. Renew Old Flooring With Paint</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"7qaeCK\">The burgundy red floor in the master bedroom of Sara and Andrew\'s Massachusetts farmhouse didn\'t fit the fresh and energetic personality of the newlyweds. But refinishing wasn\'t an option on a limited budget. So to update the space, they painted the floor in a light checked pattern, using beige and white to warm up their cool blue walls.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"4QvqBo\">Here we show how a little measuring and a couple of coats of durable floor paint can add a lot of personality to a room for a small price.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"HAzbAu\"><strong>Cost:</strong> About $75.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"kHzaVY\">7. Make Shade and Add Privacy With Interior Shutters</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"nPKprf\">Sunlight streaming through windows can be an annoying distraction. Not to mention the neighbors who have more evening hours to look into your brightly lit living room. You could install shades to foil prying eyes, but swinging wood shutters would definitely be more beautiful.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"jo3yhN\">Interior shutters were the original \"window treatments,\" commonly used in Southern and urban houses, and they\'re still a great way to add architectural and historical detail. They also help keep out winter\'s chilly winds or summer\'s oppressive heat. And they\'re easy to install on any window because they attach to a thin frame that either sits inside the window opening or around the outside of the casing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"n26zsq\"><strong>Cost:</strong> About $150 to $400.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"DNGX5k\">8. Give Kitchen Cabinets a Flawless, New Finish</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"Gysx8V\">Your cavelike kitchen feels that way because the dark cabinets have sucked all the light out of the room. But a brighter makeover doesn\'t necessarily mean replacing those gloomy boxes with all-new one. As long as the frames and doors are structurally sound, you can clean them up and brush on some new paint—and within a weekend take that kitchen from dreary to sunny. All you need is some strong cleaner, sandpaper, a paintbrush, and a little elbow grease. What you don\'t need is a whole lot of money, as the transformation will cost you a fraction of even the cheapest new cabinets.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"kvicSj\"><strong>Cost:</strong> About $200.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"ODek7L\">9. Get More Flowers Without Spending a Dime</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"p3MvjF\">Dividing perennials every three to six years is a great way to thin clump-forming varieties, like the daylily (shown here), which blooms from late spring to late summer. This technique can also be used to control plant size, invigorate growth, and multiply the number of specimens in a garden. A good rule of thumb is to split apart spring- and summer-blooming perennials in late summer or before the fall frost.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"XjnkYR\"><strong>Cost:</strong> $0.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"phdtka\">10. Install a Water Filter and Ditch Expensive Bottles</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"VCgRQc\">Millions of households have switched to bottled drinking water because of concerns over the purity or taste of their tap water. Such problems exist across the country, regardless of whether the water comes from municipal pipeline or ground well. However, there\'s an easier, less expensive way to obtain clean drinking water: install an under-sink water-filtration system.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"IQcJ5g\"><strong>Cost:</strong> About $250.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"eEmv4e\">11. Lay an Eco-Friendly Layer of Insulation</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"lGNXF3\">It\'s bad enough to have to get up in the morning, let alone get up and experience the icy shock of a cold floor. What you need is some warmth underfoot, a little cushion as you pad across the house. Enter cork. Resilient yet durable, stylish yet earthy, a natural cork floor can turn any cool room into a cozy haven.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"fja1PI\">Cork is also a lot easier to install than traditional wood flooring. Manufacturers now offer products in engineered panels that snap together without glue or nails. These floating-floor systems sit well over plywood, concrete, or even existing flooring. In one afternoon you can turn a floor into a comfortable mat where your toes can roam free without fear of the big chill—or expensive area rugs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"OmuMC9\"><strong>Cost:</strong> Average is about $6 to $8 a square foot.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"Rv6J7Q\">12. Refinish Your Home\'s Handsome Wood Door</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"XR1fvV\">The years and the elements hadn\'t been kind to the exterior of this 94-year-old, thick, cypress door. Flakes of varnish still clung to the wood in spots, while the rest of the surface was rough and dried out from the effects of water and sun. Wood entry doors everywhere suffer from the same assaults, and many end up in the trash, replaced by low-maintenance, mass-produced metal and fiberglass surrogates. But you can breathe new life into your old door with a few affordable supplies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"AIr4JE\"><strong>Cost:</strong> About $50.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"kXRv4G\">13. Put Down a Fresh Bead of Bathroom Caulk</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"G0n0Jp\">Now its smooth and supple skin has turned brittle and cracked, opening the way for stubborn colonies of mildew to take hold, or for water to seep through and turn wallboard and framing mushy. Whether it\'s around your sink, between a tub and its tile surround, or covering the joints of your shower stall — it has got to go.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"nqdLXc\">Fortunately, caulk is cheap, and applying it isn\'t difficult. All you need is an hour, a few common tools, and materials easily found at any hardware store. But as easy as it is, you still have to do it right, or you\'ll be caulking again next year, says&nbsp;<em>This Old House</em>&nbsp;general contractor Tom Silva.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"gvYpdv\"><strong>Cost:</strong> About $10 to $50.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"RDfhhw\">14. Revive Your Old Deck</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"dWaUeH\">By the time contractor Stephen Bonesteel arrived on the scene, the condition of this pine deck was bleak. Twenty years of harsh upstate New York weather without a lick of care had turned its once-bright boards a weatherbeaten gray, flecked with slimy algae and black leaf stains.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"rgqAoh\">Still, even wood this neglected can be brought back to respectability. Over the course of a week, he power-washed and hand-scrubbed the deck back to a semblance of newness, then brushed on a protective coat of semitransparent stain to protect it from the elements.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"Dl8FK0\"><strong>Cost:</strong> About $80 to $120.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"56UZbj\">15. Add Architectural Interest With Stair Brackets</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"GZPKvH\">The newel post and balusters get all the attention, while the exposed side of most staircases is largely ignored. But with the addition of decorative stair brackets, a bland stringer can become an elegant eye-catcher. Here we used simple-to-install, affordable wood brackets that go up with adhesive and nails.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"efbmAx\"><strong>Cost:</strong>&nbsp;About $150 to $250.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"zJU04D\">16. Lay Low-Cost Flooring in Laundries and Mudrooms</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"5vrYhF\">Long before the advent of resilient sheet flooring and plastic-laminate planks, there was vinyl tile. Originally produced as an alternative to linoleum, vinyl tile grew in popularity because it was colorful, easy to clean, and crack resistant. The 12x12-inch tiles come in dozens of colors, patterns and textures, making it easy to create checkerboard designs and floors with contrasting borders. Here we\'ll show you the right way to put in self-adhesive tiles for a professional-looking and durable floor.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"IODhgU\"><strong>Cost:</strong> About $2 a square foot and $80 to $100 other materials.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"cQuG72\">17. Protect Walls With an Easy-to-Clean Backsplash</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"AS8mEL\">If installing a traditional tile backsplash feels a little out of your DIY league, putting up one made from a single sheet of solid surface material may just be your saving grace. Shaping, cutting, and gluing up this inexpensive stock material—available from companies such as Swanstone, which makes the beadboard backsplash shown here, in a variety of colors and patterns—is a weekend project most amateurs can conquer with confidence. And when you have your sleek backsplash in place, you\'ll think it such a stylish protector from splashes and splatters you\'ll wonder why you ever considered tile in the first place.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"iRrfVm\"><strong>Cost:</strong> About $25 a square foot.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"XmK1uu\">18. Prevent Mold Growth With a Bathroom Vent Fan</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"NBCSJb\">Installing a ventilating fan in your bath does more than just eliminate fogged-up windows, steamy mirrors and stale odors. It also helps prevent moisture-related problems, such as the growth of mold and mildew, that can be costly to remove and lead to health problems. Avoid all of that with this affordable upgrades. Here,&nbsp;<em>This Old House</em>&nbsp;general contractor Tom Silva shows the proper way to install a bath vent fan. In this particular installation, Tom ran the exhaust duct into the attic and through a sidewall to the outdoors.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"KuBGLN\"><strong>Cost:</strong>&nbsp;About $120 to $175.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"I5YxBD\">19. Build a Custom Tool Bench</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"N5WiYy\">Amy Paladino is a pro at juggling the demands of her job and family. But as with many of us, when it came to organizing tools for DIY projects, she needed a little assistance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"UZbM6j\">Here is a plan for a size-it-to-your-space tool-storage bench that doubles as a work surface. Though it may look complicated, the construction couldn\'t be simpler. And you\'ll be protecting your valuable tools in a custom chest, while saving on the outrageous cost of store-bought storage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"eI2QAh\"><strong>Cost:</strong> About $150.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"xKdB44\">20. Ceiling Fans for Summer (and Winter) Savings</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"RCqrJ2\">The popularity of ceiling fans continues to grow as more and more homeowners discover dramatic, year-round energy savings. In summer, ceiling fans create cooling breezes, which reduce the strain on air conditioners. In winter, they circulate heated air to keep the room warm.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"nG9Pdn\">Installing a ceiling fan is relatively simple, especially if the space above is accessible from an attic. However, even when it isn\'t, the job is still quite doable. Here, we\'ll show how to replace an old light fixture with a new ceiling fan and light, in a room with no attic above. The advantage of this approach is that you don\'t have to run new wiring. The fan connects to the existing cable from the old light.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"4fjm3L\"><strong>Cost:</strong> About $50 to $350.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"HVMMuL\">21. Cut Costs With a Programmable Thermostat</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"nJasTN\">Going digital with a model that automatically changes the indoor temperature setting is fairly easy, and it can trim about $180 off your annual heating and cooling costs. Simple models that only control heat are sold at home centers for around $25. But units like the one shown here can handle many more functions, including cooling and humidifying. Typically they\'re purchased through and installed by HVAC contractors, but you can get a good deal on one by buying online and install it yourself in no time.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"6eP3tG\"><strong>Cost:</strong> About $475.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.thisoldhouse.com/21018142/21-home-improvement-budget-upgrades\">click here.</a></p>\n<!-- /wp:paragraph -->','21 Budget Home Improvement Ideas','','publish','open','open','','21-budget-home-improvement-ideas','','','2021-10-14 21:06:27','2021-10-14 21:06:27','',0,'http://smartinsurance.tips/?p=1952',0,'post','',0),(1953,1,'2021-10-14 21:00:46','2021-10-14 21:00:46','','My-Post-1','','inherit','open','closed','','my-post-1-4','','','2021-10-14 21:00:46','2021-10-14 21:00:46','',1952,'http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-1.png',0,'attachment','image/png',0),(1954,1,'2021-10-14 21:06:25','2021-10-14 21:06:25','<!-- wp:gallery {\"ids\":[1953],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-1-1024x536.png\" alt=\"\" data-id=\"1953\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-1.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1953\" class=\"wp-image-1953\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"wecAyw\">If you\'re an avid DIYer, you\'re already on your way to saving money. But with the right planning, you can transform the feel of a whole room with a single project that only costs you a few hundred bucks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"DWnVLz\">Easy Home Upgrades You Can Do on a Budget</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"zgo7US\">Pick from our round-up of value-boosting upgrades that all come in under the $500 mark—some&nbsp;<em>well</em>&nbsp;under. Not only will they be soft on your wallet now, but some of these will even save you money in the future. Check out our easy home improvement ideas below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"qBZ31k\">1. Refresh Your Rooms With Paint</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"etAbWW\">You can give your drab, washed-out walls a burst of brilliant depth (or wash away your decorating sins with virgin white) just by picking up a paint can and having at them. That\'s the power of a coat of paint: It rearranges your reality. Which is why painting is the most oft-tackled DIY home-improvement upgrade.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"yDT6nc\">While you don\'t have to be a pro to learn how to paint like one, there is more to a good paint job than just slathering some color on the wall. See our how to instructions to coat your walls expertly in one weekend, from the first scratch of the pole sander to the final feather of the brush.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"j797HX\"><strong>Cost:</strong> About $150</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"pWJTwi\">2. Add Crown Molding the Easy Way</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Crown molding makes it to the top of most remodeling lists because it adds charm and value to a home, not because people enjoy spending a Saturday try­ing to get the corners just right. Luckily, there\'s a simple way to beat miter-saw frustration.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Trimroc molding from Canamould Extrusions is a lightweight polystyrene foam coated in hard plaster. It cuts smoothly with a handsaw and it goes up in a flash with joint compound. No coping, no tricky angles, and ragged joints disappear with a dab of mud. So in just a weekend, you can upgrade a plain room to an elegant space—and still leave plenty of time for the rest of your list.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Cost: About $120.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"GK4qxV\">3. Install a Low-Cost Stair Runner</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"MdGsJ7\">Want to get a good grip on slippery stairs? Try a DIY runner. After getting a quote of $2,500 to carpet her dangerously slick oak staircase,&nbsp;<em>TOH</em>&nbsp;reader Jaime Shackford took the project into her own hands. Using just two off-the-shelf woven runners ($125 each) and supplies from a home center, she gave her stairs an non-slip upgrade.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"eVLMMB\"><strong>Cost:</strong> About $300.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"S7oneR\">4. Install a Dishwasher to Conserve Water</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"xD3EPp\">That old dishwasher could be wreaking havoc on your electric and water bills. Time to switch it out for a new Energy Star-qualified dishwasher, which can save you more than $30 a year on power and almost 500 gallons of water. If you don\'t have a dishwasher at all, you\'re using 40 percent more water washing by hand!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"VJgVs4\">The biggest cost saver of all? You can install a dishwasher yourself in an afternoon. No plumber, no electrician—and no worries that you\'re squandering your retirement money on a load of clean dishes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"yNjaaJ\"><strong>Cost:</strong> About $450+</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"i1MGO8\">5. Rewire a Vintage Entry Lantern</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"3Ezd4s\">Many hanging lanterns from the first half of the 20th century were humble by design, looking as if they\'d been crafted by blacksmiths rather than machines.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"I4ntLu\">Popularized by tastemakers of the time, such as Gustav Stickley and the Roycroft crafters, these rustic lanterns exemplified a back-to-basics design sensibility. If you\'ve scored one such find at a yard sale or have one stashed in the attic, you can invite guests to \"come on in\" by putting back into service a vintage lantern. It\'s an easy, affordable job once you get the parts.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"RDTWgj\"><strong>Cost:</strong> About $140.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"6wCrw4\">6. Renew Old Flooring With Paint</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"7qaeCK\">The burgundy red floor in the master bedroom of Sara and Andrew\'s Massachusetts farmhouse didn\'t fit the fresh and energetic personality of the newlyweds. But refinishing wasn\'t an option on a limited budget. So to update the space, they painted the floor in a light checked pattern, using beige and white to warm up their cool blue walls.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"4QvqBo\">Here we show how a little measuring and a couple of coats of durable floor paint can add a lot of personality to a room for a small price.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"HAzbAu\"><strong>Cost:</strong> About $75.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"kHzaVY\">7. Make Shade and Add Privacy With Interior Shutters</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"nPKprf\">Sunlight streaming through windows can be an annoying distraction. Not to mention the neighbors who have more evening hours to look into your brightly lit living room. You could install shades to foil prying eyes, but swinging wood shutters would definitely be more beautiful.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"jo3yhN\">Interior shutters were the original \"window treatments,\" commonly used in Southern and urban houses, and they\'re still a great way to add architectural and historical detail. They also help keep out winter\'s chilly winds or summer\'s oppressive heat. And they\'re easy to install on any window because they attach to a thin frame that either sits inside the window opening or around the outside of the casing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"n26zsq\"><strong>Cost:</strong> About $150 to $400.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"DNGX5k\">8. Give Kitchen Cabinets a Flawless, New Finish</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"Gysx8V\">Your cavelike kitchen feels that way because the dark cabinets have sucked all the light out of the room. But a brighter makeover doesn\'t necessarily mean replacing those gloomy boxes with all-new one. As long as the frames and doors are structurally sound, you can clean them up and brush on some new paint—and within a weekend take that kitchen from dreary to sunny. All you need is some strong cleaner, sandpaper, a paintbrush, and a little elbow grease. What you don\'t need is a whole lot of money, as the transformation will cost you a fraction of even the cheapest new cabinets.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"kvicSj\"><strong>Cost:</strong> About $200.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"ODek7L\">9. Get More Flowers Without Spending a Dime</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"p3MvjF\">Dividing perennials every three to six years is a great way to thin clump-forming varieties, like the daylily (shown here), which blooms from late spring to late summer. This technique can also be used to control plant size, invigorate growth, and multiply the number of specimens in a garden. A good rule of thumb is to split apart spring- and summer-blooming perennials in late summer or before the fall frost.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"XjnkYR\"><strong>Cost:</strong> $0.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"phdtka\">10. Install a Water Filter and Ditch Expensive Bottles</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"VCgRQc\">Millions of households have switched to bottled drinking water because of concerns over the purity or taste of their tap water. Such problems exist across the country, regardless of whether the water comes from municipal pipeline or ground well. However, there\'s an easier, less expensive way to obtain clean drinking water: install an under-sink water-filtration system.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"IQcJ5g\"><strong>Cost:</strong> About $250.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"eEmv4e\">11. Lay an Eco-Friendly Layer of Insulation</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"lGNXF3\">It\'s bad enough to have to get up in the morning, let alone get up and experience the icy shock of a cold floor. What you need is some warmth underfoot, a little cushion as you pad across the house. Enter cork. Resilient yet durable, stylish yet earthy, a natural cork floor can turn any cool room into a cozy haven.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"fja1PI\">Cork is also a lot easier to install than traditional wood flooring. Manufacturers now offer products in engineered panels that snap together without glue or nails. These floating-floor systems sit well over plywood, concrete, or even existing flooring. In one afternoon you can turn a floor into a comfortable mat where your toes can roam free without fear of the big chill—or expensive area rugs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"OmuMC9\"><strong>Cost:</strong> Average is about $6 to $8 a square foot.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"Rv6J7Q\">12. Refinish Your Home\'s Handsome Wood Door</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"XR1fvV\">The years and the elements hadn\'t been kind to the exterior of this 94-year-old, thick, cypress door. Flakes of varnish still clung to the wood in spots, while the rest of the surface was rough and dried out from the effects of water and sun. Wood entry doors everywhere suffer from the same assaults, and many end up in the trash, replaced by low-maintenance, mass-produced metal and fiberglass surrogates. But you can breathe new life into your old door with a few affordable supplies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"AIr4JE\"><strong>Cost:</strong> About $50.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"kXRv4G\">13. Put Down a Fresh Bead of Bathroom Caulk</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"G0n0Jp\">Now its smooth and supple skin has turned brittle and cracked, opening the way for stubborn colonies of mildew to take hold, or for water to seep through and turn wallboard and framing mushy. Whether it\'s around your sink, between a tub and its tile surround, or covering the joints of your shower stall — it has got to go.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"nqdLXc\">Fortunately, caulk is cheap, and applying it isn\'t difficult. All you need is an hour, a few common tools, and materials easily found at any hardware store. But as easy as it is, you still have to do it right, or you\'ll be caulking again next year, says&nbsp;<em>This Old House</em>&nbsp;general contractor Tom Silva.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"gvYpdv\"><strong>Cost:</strong> About $10 to $50.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"RDfhhw\">14. Revive Your Old Deck</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"dWaUeH\">By the time contractor Stephen Bonesteel arrived on the scene, the condition of this pine deck was bleak. Twenty years of harsh upstate New York weather without a lick of care had turned its once-bright boards a weatherbeaten gray, flecked with slimy algae and black leaf stains.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"rgqAoh\">Still, even wood this neglected can be brought back to respectability. Over the course of a week, he power-washed and hand-scrubbed the deck back to a semblance of newness, then brushed on a protective coat of semitransparent stain to protect it from the elements.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"Dl8FK0\"><strong>Cost:</strong> About $80 to $120.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"56UZbj\">15. Add Architectural Interest With Stair Brackets</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"GZPKvH\">The newel post and balusters get all the attention, while the exposed side of most staircases is largely ignored. But with the addition of decorative stair brackets, a bland stringer can become an elegant eye-catcher. Here we used simple-to-install, affordable wood brackets that go up with adhesive and nails.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"efbmAx\"><strong>Cost:</strong>&nbsp;About $150 to $250.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"zJU04D\">16. Lay Low-Cost Flooring in Laundries and Mudrooms</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"5vrYhF\">Long before the advent of resilient sheet flooring and plastic-laminate planks, there was vinyl tile. Originally produced as an alternative to linoleum, vinyl tile grew in popularity because it was colorful, easy to clean, and crack resistant. The 12x12-inch tiles come in dozens of colors, patterns and textures, making it easy to create checkerboard designs and floors with contrasting borders. Here we\'ll show you the right way to put in self-adhesive tiles for a professional-looking and durable floor.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"IODhgU\"><strong>Cost:</strong> About $2 a square foot and $80 to $100 other materials.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"cQuG72\">17. Protect Walls With an Easy-to-Clean Backsplash</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"AS8mEL\">If installing a traditional tile backsplash feels a little out of your DIY league, putting up one made from a single sheet of solid surface material may just be your saving grace. Shaping, cutting, and gluing up this inexpensive stock material—available from companies such as Swanstone, which makes the beadboard backsplash shown here, in a variety of colors and patterns—is a weekend project most amateurs can conquer with confidence. And when you have your sleek backsplash in place, you\'ll think it such a stylish protector from splashes and splatters you\'ll wonder why you ever considered tile in the first place.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"iRrfVm\"><strong>Cost:</strong> About $25 a square foot.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"XmK1uu\">18. Prevent Mold Growth With a Bathroom Vent Fan</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"NBCSJb\">Installing a ventilating fan in your bath does more than just eliminate fogged-up windows, steamy mirrors and stale odors. It also helps prevent moisture-related problems, such as the growth of mold and mildew, that can be costly to remove and lead to health problems. Avoid all of that with this affordable upgrades. Here,&nbsp;<em>This Old House</em>&nbsp;general contractor Tom Silva shows the proper way to install a bath vent fan. In this particular installation, Tom ran the exhaust duct into the attic and through a sidewall to the outdoors.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"KuBGLN\"><strong>Cost:</strong>&nbsp;About $120 to $175.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"I5YxBD\">19. Build a Custom Tool Bench</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"N5WiYy\">Amy Paladino is a pro at juggling the demands of her job and family. But as with many of us, when it came to organizing tools for DIY projects, she needed a little assistance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"UZbM6j\">Here is a plan for a size-it-to-your-space tool-storage bench that doubles as a work surface. Though it may look complicated, the construction couldn\'t be simpler. And you\'ll be protecting your valuable tools in a custom chest, while saving on the outrageous cost of store-bought storage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"eI2QAh\"><strong>Cost:</strong> About $150.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"xKdB44\">20. Ceiling Fans for Summer (and Winter) Savings</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"RCqrJ2\">The popularity of ceiling fans continues to grow as more and more homeowners discover dramatic, year-round energy savings. In summer, ceiling fans create cooling breezes, which reduce the strain on air conditioners. In winter, they circulate heated air to keep the room warm.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"nG9Pdn\">Installing a ceiling fan is relatively simple, especially if the space above is accessible from an attic. However, even when it isn\'t, the job is still quite doable. Here, we\'ll show how to replace an old light fixture with a new ceiling fan and light, in a room with no attic above. The advantage of this approach is that you don\'t have to run new wiring. The fan connects to the existing cable from the old light.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"4fjm3L\"><strong>Cost:</strong> About $50 to $350.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"HVMMuL\">21. Cut Costs With a Programmable Thermostat</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"nJasTN\">Going digital with a model that automatically changes the indoor temperature setting is fairly easy, and it can trim about $180 off your annual heating and cooling costs. Simple models that only control heat are sold at home centers for around $25. But units like the one shown here can handle many more functions, including cooling and humidifying. Typically they\'re purchased through and installed by HVAC contractors, but you can get a good deal on one by buying online and install it yourself in no time.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"6eP3tG\"><strong>Cost:</strong> About $475.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.thisoldhouse.com/21018142/21-home-improvement-budget-upgrades\">click here.</a></p>\n<!-- /wp:paragraph -->','21 Budget Home Improvement Ideas','','inherit','closed','closed','','1952-revision-v1','','','2021-10-14 21:06:25','2021-10-14 21:06:25','',1952,'http://smartinsurance.tips/?p=1954',0,'revision','',0),(1955,1,'2021-10-14 21:26:26','2021-10-14 21:26:26','<!-- wp:image {\"id\":1956,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-2-1024x536.png\" alt=\"\" class=\"wp-image-1956\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Here are&nbsp;<strong>6 ideas for you to prepare and grow your small business</strong>&nbsp;during the Holiday Season:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>1) Set Sales Goals</strong><br>You can’t know what you need to prepare for the holiday season without knowing your goals. Sit down with your trusted team members and carve out goals for hitting different targets along the way from now until the end of the year. Define your goals as the minimum goals you need to reach, your expected goals, and your stretch goals. Don’t only define these goals in terms of revenue. Add any other goals you may have such as customer engagement&nbsp;and social media following.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>2) Create a Holiday-Focused Marketing Campaign</strong><br>Use our holiday-crazed society as a benefit to your business. We’re programmed to LOVE holidays, especially the present buying season.&nbsp;Don’t be shy about it, let your target audience know that you have what they need and since you’re a small business, you actually care about them, so you’ll do it better than the big guys.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>3) Make a Plan to Stock Up on Extra Inventory</strong><br>You’ve done your best to anticipate the crowds, their needs, and be prepared, but was it enough? Make sure you have a plan to purchase extra inventory quickly if your holiday sales are better than expected.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>4) Decorate Your Windows and Store</strong><br>Even the “grinches” of the world secretly love the holidays, and they’ll love coming into your festive store. Take some time to decorate your storefront for the season. It’ll draw the eyes of passersby and bring them in. We know you don’t have the budget of Macy’s or Tiffany’s, but a bit of holiday cheer will help your bottom line.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>5) Train Your Seasonal Employees</strong><br>You know you’ll be busier than usual this holiday season, so you hired a couple of extra employees. Invest your time and train them properly. Even though you may not see its worth now, the better their training, the better experience your customers will have, and the less stressed you’ll be about an unexpected rush.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>6) Invest in New Software</strong><br>Have you been eyeing new software? Whether you’re in need of updated bookkeeping, inventory tracking, or employee management systems. The holidays are busy enough, buy yourself this early holiday gift and enjoy the perks of your business run smoother and spend more time with your family, friends, or alone with some peace &amp; quiet.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.ondeck.com/resources/6-small-business-tips-to-an-outstanding-holiday-season\">click here.</a></p>\n<!-- /wp:paragraph -->','6 Tips to an Outstanding Holiday Season','','publish','open','open','','6-tips-to-an-outstanding-holiday-season','','','2021-11-05 16:56:58','2021-11-05 16:56:58','',0,'http://smartinsurance.tips/?p=1955',0,'post','',0),(1956,1,'2021-10-14 21:24:00','2021-10-14 21:24:00','','My-Post-2','','inherit','open','closed','','my-post-2-4','','','2021-10-14 21:24:00','2021-10-14 21:24:00','',1955,'http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-2.png',0,'attachment','image/png',0),(1957,1,'2021-10-14 21:26:26','2021-10-14 21:26:26','<!-- wp:image {\"id\":1956,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-2-1024x536.png\" alt=\"\" class=\"wp-image-1956\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Here are&nbsp;<strong>6 ideas for you to prepare and grow your small business</strong>&nbsp;during the Holiday Season:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>1) Set Sales Goals</strong><br>You can’t know what you need to prepare for the holiday season without knowing your goals. Sit down with your trusted team members and carve out goals for hitting different targets along the way from now until the end of the year. Define your goals as the minimum goals you need to reach, your expected goals, and your stretch goals. Don’t only define these goals in terms of revenue. Add any other goals you may have such as customer engagement and social media following.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>2) Create a Holiday-Focused Marketing Campaign</strong><br>Use our holiday-crazed society as a benefit to your business. We’re programmed to LOVE holidays, especially the present buying season. Don’t be shy about it, let your target audience know that you have what they need and since you’re a small business, you actually care about them, so you’ll do it better than the big guys.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>3) Make a Plan to Stock Up on Extra Inventory</strong><br>You’ve done your best to anticipate the crowds, their needs, and be prepared, but was it enough? Make sure you have a plan to purchase extra inventory quickly if your holiday sales are better than expected.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>4) Decorate Your Windows and Store</strong><br>Even the “grinches” of the world secretly love the holidays, and they’ll love coming into your festive store. Take some time to decorate your storefront for the season. It’ll draw the eyes of passersby and bring them in. We know you don’t have the budget of Macy’s or Tiffany’s, but a bit of holiday cheer will help your bottom line.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>5) Train Your Seasonal Employees</strong><br>You know you’ll be busier than usual this holiday season, so you hired a couple of extra employees. Invest your time and train them properly. Even though you may not see its worth now, the better their training, the better experience your customers will have, and the less stressed you’ll be about an unexpected rush.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>6) Invest in New Software</strong><br>Have you been eyeing new software? Whether you’re in need of updated bookkeeping, inventory tracking, or employee management systems. The holidays are busy enough, buy yourself this early holiday gift and enjoy the perks of your business run smoother and spend more time with your family, friends, or alone with some peace &amp; quiet.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"http://smartinsurance.tips/special-event-insurance/\">click here.</a></p>\n<!-- /wp:paragraph -->','6 Tips to an Outstanding Holiday Season','','inherit','closed','closed','','1955-revision-v1','','','2021-10-14 21:26:26','2021-10-14 21:26:26','',1955,'http://smartinsurance.tips/?p=1957',0,'revision','',0),(1958,1,'2021-10-14 21:47:54','2021-10-14 21:47:54','<!-- wp:image {\"id\":1959,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-3-1024x536.png\" alt=\"\" class=\"wp-image-1959\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>As Halloween comes to a close and attention turns to Thanksgiving and the winter holidays, you’ll probably notice a perceptible dip in employee productivity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With Halloween, Thanksgiving, Hanukkah, Christmas and New Year’s celebrations—and expectations—your team members are pulled in many different directions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Unfortunately, work productivity tends to suffer during this period. Although it’s impossible to avoid the holidays altogether as a business leader, there are some proven methods to keeping a workforce on track and focused despite the mad crush to January 1st.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>The key is to have realistic expectations while still demanding a high quality of output.</strong>&nbsp;You shouldn’t work your team into the ground, but you can foster an environment where social obligations aren’t ignored and your bottom line still remains strong.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Here are a few suggestions you can use to make this happen:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Map out holiday vacation time in advance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Many employees save up their vacation time until the end of the year, hoping to spend one or more weeks at home with their families, or traveling to meet with loved ones.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This is their prerogative; after all, they have the vacation time for a reason. Still, a business leader has no obligation to allow all his or her employees to leave during the week after Christmas en masse, turning the office into a ghost town.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Before the holiday season gets into full swing, make it clear that you expect a certain number of team members to be present each day that your office is open. This sets up expectations upfront and alerts everyone to more efficiently make decisions on how and when they can use vacation or personal days. In the end, everyone can get a little time off without the company suffering.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Be cautious about allowing work-from-home options</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Unless a worker is normally allowed work-from-home options, be careful about granting this privilege during the holidays. The problem is that the employee is likely to be distracted by all his or her demands when working from a residence. You may seem like a Scrooge if you deny this option, but it’s worth a little grumbling from team members to keep your customers happy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>On the other hand, if you feel that your workers are well-versed in successful work-from-home techniques—perhaps they have shown their mettle in this area before—you may wish to grant limited work-from-home opportunities. These can be doled out on a case-by-case basis. Just make sure all work-from-home individuals are monitored for productivity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>They still need to get their daily tasks accomplished, be available to their colleagues during working hours, and so on.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Plan a workplace celebration</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The holidays are a time for celebration—you cannot and should not ignore that fact! Most people expect to have some workplace festivities, so don’t let them down. With this being said, your celebration doesn’t have to be over-the-top. A potluck luncheon that lasts well into the afternoon hours can be a perfect way for everyone to take a step back and enjoy some chatter among coworkers. You can even decorate the office; just don’t let decorating take precedence over serving your clients.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Whether or not you engage in a gift exchange is up to you. If you haven’t in the past, poll your employees to see what they want to do. Don’t forget that it’s always nice to get a little present from the business, even if it’s just a gift card to a local coffee shop.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Don’t launch major corporate initiatives in November or December</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The end of the year can be a bad time to launch any new initiatives unless they are related to the holiday season. Most employees can only focus with half their brains because of all their other familial and personal commitments; this means your initiative will be difficult to get off the ground.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>However, brainstorming during the holidays can be a fun activity toward next year’s planning. Gather your thought leaders together for a discussion of what you can do in the coming 12 months to ratchet up sales and blow the roof off your revenue stream. This technique will also work to create more buy-in from employees who are preoccupied with other items.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Manage client expectations</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Clients can be a huge source of stress during the holidays, but only if their expectations haven’t been managed. Never promise—or allow your team members to promise—services or products that absolutely cannot be delivered due to the craziness of November and December. Remember that the adage of “under-promise, over-deliver” has stood the test of time.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Although your customer base may grumble, they cannot argue if you have set up their anticipated delivery dates from the beginning. By being realistic, you will ensure that clientele will still get a high level of service from your company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Encourage your team members to take breaks</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have some workaholics on your team, you may notice that they are getting a little overwrought during the holidays. Chances are good that they are burning the candle at both ends, plus the middle. This can lead to illness or serious mental fatigue.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Instead of allowing them to just pick up the slack, encourage them to take breaks. If someone has been pulling a lot of overtime, you may be in a position to give him or her the afternoon off on a Friday. This will help foster a sense of balance and avoid burning out key employees.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Be reasonable</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Finally, it’s important to remind yourself that the holidays are a time when you have to be reasonable. You can’t expect employees to stay late every night if they have kid-related holiday programs to attend, parties to go to, or shopping to engage in.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Unless it’s necessary, as in the case of a lawyer who absolutely has to prep a client for a hearing the next day, be understanding about the time that workers can put into their jobs. As long as they are delivering on their expected daily and weekly work hours, they should be allowed to leave at a respectable time.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Don’t forget to take time for yourself</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Make sure to take time for yourself, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As you focus on your business, you may start to forget that you have responsibilities at home and within your social community as well.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Take pleasure in the holidays, and don’t be tempted to become a martyr so that everyone else on the payroll can enjoy the festivities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://articles.bplans.com/keep-team-productive-around-holidays/\">click here.</a></p>\n<!-- /wp:paragraph -->','How to Keep Your Team Productive Around the Holidays?','','publish','open','open','','how-to-keep-your-team-productive-around-the-holidays','','','2021-10-14 21:47:56','2021-10-14 21:47:56','',0,'http://smartinsurance.tips/?p=1958',0,'post','',0),(1959,1,'2021-10-14 21:47:36','2021-10-14 21:47:36','','My-Post-3','','inherit','open','closed','','my-post-3-4','','','2021-10-14 21:47:36','2021-10-14 21:47:36','',1958,'http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-3.png',0,'attachment','image/png',0),(1960,1,'2021-10-14 21:47:54','2021-10-14 21:47:54','<!-- wp:image {\"id\":1959,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-3-1024x536.png\" alt=\"\" class=\"wp-image-1959\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>As Halloween comes to a close and attention turns to Thanksgiving and the winter holidays, you’ll probably notice a perceptible dip in employee productivity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With Halloween, Thanksgiving, Hanukkah, Christmas and New Year’s celebrations—and expectations—your team members are pulled in many different directions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Unfortunately, work productivity tends to suffer during this period. Although it’s impossible to avoid the holidays altogether as a business leader, there are some proven methods to keeping a workforce on track and focused despite the mad crush to January 1st.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>The key is to have realistic expectations while still demanding a high quality of output.</strong>&nbsp;You shouldn’t work your team into the ground, but you can foster an environment where social obligations aren’t ignored and your bottom line still remains strong.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Here are a few suggestions you can use to make this happen:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Map out holiday vacation time in advance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Many employees save up their vacation time until the end of the year, hoping to spend one or more weeks at home with their families, or traveling to meet with loved ones.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This is their prerogative; after all, they have the vacation time for a reason. Still, a business leader has no obligation to allow all his or her employees to leave during the week after Christmas en masse, turning the office into a ghost town.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Before the holiday season gets into full swing, make it clear that you expect a certain number of team members to be present each day that your office is open. This sets up expectations upfront and alerts everyone to more efficiently make decisions on how and when they can use vacation or personal days. In the end, everyone can get a little time off without the company suffering.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Be cautious about allowing work-from-home options</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Unless a worker is normally allowed work-from-home options, be careful about granting this privilege during the holidays. The problem is that the employee is likely to be distracted by all his or her demands when working from a residence. You may seem like a Scrooge if you deny this option, but it’s worth a little grumbling from team members to keep your customers happy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>On the other hand, if you feel that your workers are well-versed in successful work-from-home techniques—perhaps they have shown their mettle in this area before—you may wish to grant limited work-from-home opportunities. These can be doled out on a case-by-case basis. Just make sure all work-from-home individuals are monitored for productivity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>They still need to get their daily tasks accomplished, be available to their colleagues during working hours, and so on.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Plan a workplace celebration</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The holidays are a time for celebration—you cannot and should not ignore that fact! Most people expect to have some workplace festivities, so don’t let them down. With this being said, your celebration doesn’t have to be over-the-top. A potluck luncheon that lasts well into the afternoon hours can be a perfect way for everyone to take a step back and enjoy some chatter among coworkers. You can even decorate the office; just don’t let decorating take precedence over serving your clients.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Whether or not you engage in a gift exchange is up to you. If you haven’t in the past, poll your employees to see what they want to do. Don’t forget that it’s always nice to get a little present from the business, even if it’s just a gift card to a local coffee shop.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Don’t launch major corporate initiatives in November or December</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The end of the year can be a bad time to launch any new initiatives unless they are related to the holiday season. Most employees can only focus with half their brains because of all their other familial and personal commitments; this means your initiative will be difficult to get off the ground.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>However, brainstorming during the holidays can be a fun activity toward next year’s planning. Gather your thought leaders together for a discussion of what you can do in the coming 12 months to ratchet up sales and blow the roof off your revenue stream. This technique will also work to create more buy-in from employees who are preoccupied with other items.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Manage client expectations</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Clients can be a huge source of stress during the holidays, but only if their expectations haven’t been managed. Never promise—or allow your team members to promise—services or products that absolutely cannot be delivered due to the craziness of November and December. Remember that the adage of “under-promise, over-deliver” has stood the test of time.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Although your customer base may grumble, they cannot argue if you have set up their anticipated delivery dates from the beginning. By being realistic, you will ensure that clientele will still get a high level of service from your company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Encourage your team members to take breaks</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have some workaholics on your team, you may notice that they are getting a little overwrought during the holidays. Chances are good that they are burning the candle at both ends, plus the middle. This can lead to illness or serious mental fatigue.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Instead of allowing them to just pick up the slack, encourage them to take breaks. If someone has been pulling a lot of overtime, you may be in a position to give him or her the afternoon off on a Friday. This will help foster a sense of balance and avoid burning out key employees.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Be reasonable</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Finally, it’s important to remind yourself that the holidays are a time when you have to be reasonable. You can’t expect employees to stay late every night if they have kid-related holiday programs to attend, parties to go to, or shopping to engage in.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Unless it’s necessary, as in the case of a lawyer who absolutely has to prep a client for a hearing the next day, be understanding about the time that workers can put into their jobs. As long as they are delivering on their expected daily and weekly work hours, they should be allowed to leave at a respectable time.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Don’t forget to take time for yourself</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Make sure to take time for yourself, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As you focus on your business, you may start to forget that you have responsibilities at home and within your social community as well.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Take pleasure in the holidays, and don’t be tempted to become a martyr so that everyone else on the payroll can enjoy the festivities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://articles.bplans.com/keep-team-productive-around-holidays/\">click here.</a></p>\n<!-- /wp:paragraph -->','How to Keep Your Team Productive Around the Holidays?','','inherit','closed','closed','','1958-revision-v1','','','2021-10-14 21:47:54','2021-10-14 21:47:54','',1958,'http://smartinsurance.tips/?p=1960',0,'revision','',0),(1962,1,'2021-10-14 21:59:09','2021-10-14 21:59:09','<!-- wp:image {\"id\":1963,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-5-1024x536.png\" alt=\"\" class=\"wp-image-1963\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0\">What Is Indemnity?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">Indemnity is a comprehensive form of insurance compensation for damages or loss. When the term indemnity is used in the legal sense, it may also refer to an exemption from liability for damages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Indemnity is a contractual agreement between two parties. In this arrangement, one party agrees to pay for potential losses or damages caused by another party. A typical example is an insurance contract, in which the insurer or the indemnitor agrees to compensate the other (the insured or the indemnitee) for any damages or losses in return for premiums paid by the insured to the insurer. With indemnity, the insurer indemnifies the policyholder—that is, promises to make whole the individual or business for any covered loss.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Indemnity is a comprehensive form of insurance compensation for damages or loss.</li><li>In this type of arrangement, one party agrees to pay for potential losses or damages caused by another party.</li><li>A typical example is an insurance contract, in which the insurer or the indemnitor agrees to compensate the other (the insured or the indemnitee) for any damages or losses in return for premiums paid by the insured to the insurer.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-9\">How Indemnity Works</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-10\">An indemnity clause is standard in the majority of insurance agreements. However, </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>exactly what is covered, and to what extent, depends on the specific agreement. Any given indemnity agreement has what is called a period of indemnity, or a specific length of time for which the payment is valid. Similarly, many contracts include a letter of indemnity, which guarantees that both parties will meet the contract stipulations (or else an indemnity must be paid).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Indemnity is common in agreements between an individual and a business (for example, an agreement to obtain car insurance). However, it can also apply on a larger scale to relationships between businesses and government or between governments of two or more countries.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important :Indemnity clauses can be complicated to negotiate and can lead to increased costs of services because of the increased risk of the contract.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Sometimes, government, a business, or an entire industry must take on the costs of larger issues on behalf of the public, such as outbreaks of disease. For example, according to Reuters, Congress authorized $1 billion to fight a bird flu epidemic that devastated the U.S. poultry industry in 2014 and 2015. The U.S. Department of Agriculture sent $600 million of money on virus elimination and disinfection and $200 million in indemnity payments.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-18\">Special Considerations</h2>\n<!-- /wp:heading -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-19\">How Indemnity Is Paid</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-20\">Indemnity may be paid in the form of cash, or by way of repairs or replacement, depending on the terms of the indemnity agreement. For example, in the case of home insurance, the homeowner pays insurance premiums to the insurance company in exchange for the assurance that the homeowner will be indemnified if the house sustains damage from fire, natural disasters, or other perils specified in the insurance agreement. In the unfortunate event that the home is damaged significantly, the insurance company will be obligated&nbsp;to restore the property to its original state—either through repairs&nbsp;by&nbsp;authorized contractors&nbsp;or reimbursement to the homeowner for expenditures incurred for such repairs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-22\">Indemnity Insurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">Indemnity insurance is a way for a company (or individual) to obtain protection from indemnity claims. This insurance protects the holder from having to pay the full sum of an indemnity, even if the holder is responsible for the cause of the indemnity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Many companies make indemnity insurance a requirement as lawsuits are common. Everyday examples include malpractice insurance, which is common in medical fields, and errors and omissions insurance (E&amp;O), which protects companies and their employees against claims made by clients and applies to any given industry. Some companies also invest in deferred compensation indemnity insurance, which protects the money that companies expect to receive in the future.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As with any other form of insurance, indemnity insurance covers the costs of an indemnity claim, including, but not limited to, court costs, fees, and settlements. The amount covered by insurance depends on the specific agreement, and the cost of the insurance depends on many factors including the history of indemnity claims.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Property leases also include indemnity clauses. For example, in the case of a rental property, a tenant is typically responsible for damages due to negligence, fines, lawyer fees, and more depending on the agreement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Acts of Indemnity<br>An act of indemnity protects those who have acted illegally from being subject to penalties. This exemption typically applies to public officers, such as police officers or government officials, who are sometimes compelled to commit illegal acts in order to carry out the responsibilities of their jobs. Often, such protection is granted to a group of people who committed an illegal act for the common good, such as the assassination of a known dictator or terrorist leader.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>History of Indemnity<br>Although indemnity agreements have not always had a name, they are not a new concept. Historically, indemnity agreements have served to ensure cooperation between individuals, businesses, and governments.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In 1825, Haiti was forced to pay France what was then called an \"independence debt.\" The payments were intended to cover the losses that French plantation owners \"suffered\" after losing land and slaves. While this form of indemnity was incredibly unjust, it is one example of many historical cases that show the ways indemnity has been applied worldwide.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Another common form of indemnity is the reparations a winning country seeks from a losing country after a war. Depending on the amount and extent of the indemnity due, it can take years and even decades to pay off. One of the most well-known examples is the indemnity Germany paid after its role in World War I. Those reparations were finally paid off in 2010, almost a century after they were put in place.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/terms/i/indemnity.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Indemnity','','publish','open','open','','indemnity','','','2021-10-14 21:59:11','2021-10-14 21:59:11','',0,'http://smartinsurance.tips/?p=1962',0,'post','',0),(1963,1,'2021-10-14 21:56:38','2021-10-14 21:56:38','','My-Post-5','','inherit','open','closed','','my-post-5-2','','','2021-10-14 21:56:38','2021-10-14 21:56:38','',1962,'http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-5.png',0,'attachment','image/png',0),(1964,1,'2021-10-14 21:59:09','2021-10-14 21:59:09','<!-- wp:image {\"id\":1963,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-5-1024x536.png\" alt=\"\" class=\"wp-image-1963\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0\">What Is Indemnity?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">Indemnity is a comprehensive form of insurance compensation for damages or loss. When the term indemnity is used in the legal sense, it may also refer to an exemption from liability for damages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Indemnity is a contractual agreement between two parties. In this arrangement, one party agrees to pay for potential losses or damages caused by another party. A typical example is an insurance contract, in which the insurer or the indemnitor agrees to compensate the other (the insured or the indemnitee) for any damages or losses in return for premiums paid by the insured to the insurer. With indemnity, the insurer indemnifies the policyholder—that is, promises to make whole the individual or business for any covered loss.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Indemnity is a comprehensive form of insurance compensation for damages or loss.</li><li>In this type of arrangement, one party agrees to pay for potential losses or damages caused by another party.</li><li>A typical example is an insurance contract, in which the insurer or the indemnitor agrees to compensate the other (the insured or the indemnitee) for any damages or losses in return for premiums paid by the insured to the insurer.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-9\">How Indemnity Works</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-10\">An indemnity clause is standard in the majority of insurance agreements. However, </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>exactly what is covered, and to what extent, depends on the specific agreement. Any given indemnity agreement has what is called a period of indemnity, or a specific length of time for which the payment is valid. Similarly, many contracts include a letter of indemnity, which guarantees that both parties will meet the contract stipulations (or else an indemnity must be paid).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Indemnity is common in agreements between an individual and a business (for example, an agreement to obtain car insurance). However, it can also apply on a larger scale to relationships between businesses and government or between governments of two or more countries.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important :Indemnity clauses can be complicated to negotiate and can lead to increased costs of services because of the increased risk of the contract.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Sometimes, government, a business, or an entire industry must take on the costs of larger issues on behalf of the public, such as outbreaks of disease. For example, according to Reuters, Congress authorized $1 billion to fight a bird flu epidemic that devastated the U.S. poultry industry in 2014 and 2015. The U.S. Department of Agriculture sent $600 million of money on virus elimination and disinfection and $200 million in indemnity payments.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-18\">Special Considerations</h2>\n<!-- /wp:heading -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-19\">How Indemnity Is Paid</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-20\">Indemnity may be paid in the form of cash, or by way of repairs or replacement, depending on the terms of the indemnity agreement. For example, in the case of home insurance, the homeowner pays insurance premiums to the insurance company in exchange for the assurance that the homeowner will be indemnified if the house sustains damage from fire, natural disasters, or other perils specified in the insurance agreement. In the unfortunate event that the home is damaged significantly, the insurance company will be obligated&nbsp;to restore the property to its original state—either through repairs&nbsp;by&nbsp;authorized contractors&nbsp;or reimbursement to the homeowner for expenditures incurred for such repairs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-22\">Indemnity Insurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">Indemnity insurance is a way for a company (or individual) to obtain protection from indemnity claims. This insurance protects the holder from having to pay the full sum of an indemnity, even if the holder is responsible for the cause of the indemnity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Many companies make indemnity insurance a requirement as lawsuits are common. Everyday examples include malpractice insurance, which is common in medical fields, and errors and omissions insurance (E&amp;O), which protects companies and their employees against claims made by clients and applies to any given industry. Some companies also invest in deferred compensation indemnity insurance, which protects the money that companies expect to receive in the future.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As with any other form of insurance, indemnity insurance covers the costs of an indemnity claim, including, but not limited to, court costs, fees, and settlements. The amount covered by insurance depends on the specific agreement, and the cost of the insurance depends on many factors including the history of indemnity claims.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Property leases also include indemnity clauses. For example, in the case of a rental property, a tenant is typically responsible for damages due to negligence, fines, lawyer fees, and more depending on the agreement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Acts of Indemnity<br>An act of indemnity protects those who have acted illegally from being subject to penalties. This exemption typically applies to public officers, such as police officers or government officials, who are sometimes compelled to commit illegal acts in order to carry out the responsibilities of their jobs. Often, such protection is granted to a group of people who committed an illegal act for the common good, such as the assassination of a known dictator or terrorist leader.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>History of Indemnity<br>Although indemnity agreements have not always had a name, they are not a new concept. Historically, indemnity agreements have served to ensure cooperation between individuals, businesses, and governments.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In 1825, Haiti was forced to pay France what was then called an \"independence debt.\" The payments were intended to cover the losses that French plantation owners \"suffered\" after losing land and slaves. While this form of indemnity was incredibly unjust, it is one example of many historical cases that show the ways indemnity has been applied worldwide.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Another common form of indemnity is the reparations a winning country seeks from a losing country after a war. Depending on the amount and extent of the indemnity due, it can take years and even decades to pay off. One of the most well-known examples is the indemnity Germany paid after its role in World War I. Those reparations were finally paid off in 2010, almost a century after they were put in place.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/terms/i/indemnity.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Indemnity','','inherit','closed','closed','','1962-revision-v1','','','2021-10-14 21:59:09','2021-10-14 21:59:09','',1962,'http://smartinsurance.tips/?p=1964',0,'revision','',0),(1966,1,'2021-10-14 22:08:06','2021-10-14 22:08:06','<!-- wp:image {\"id\":1967,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-6-1024x536.png\" alt=\"\" class=\"wp-image-1967\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>If you’re responsible for an accident that causes personal injury or property damage, you need personal liability to cover the cost of the damages. Without personal liability insurance, all costs would fall on your shoulders. These costs can run into tens of thousands of dollars or sometimes higher depending on how bad the incident is.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Personal liability coverage may help decrease the cost of covering the damages to a person or property. It won’t cover 100% of the damages, but it can decrease the total amount of money you must pay out of pocket, typically limiting your out-of-pocket costs to your deductible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In this guide, we’ll help you understand how personal liability insurance works and when you should include it in your insurance portfolio.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-what-is-personal-liability-insurance\">What is personal liability insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Personal liability insurance is coverage you can add to your homeowner’s, renter’s, or personal auto policy. You can also buy a standalone policy if you don’t have any assets to insure, such as a house or car.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Personal liability coverage pays for damage to other people or properties caused by you. For example, you have friends over for dinner, and one falls on the steps leaving your house. Your personal liability coverage would help cover the cost of the medical bills and any other damage that may have occurred.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Most policies include $100,000 in personal liability coverage. Still, you can buy additional coverage or buy an umbrella policy that covers additional personal liability in cases where you may experience a high loss.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-how-does-personal-liability-insurance-work\">How does personal liability insurance work?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Personal liability coverage is a part of many insurance policies, or you can add it to many policies. Just because you have personal liability insurance on your home doesn’t mean it only covers liability at home though.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It can cover incidents outside of the home that other insurance doesn’t cover. For example, it wouldn’t cover a car accident since your car insurance should cover it. But it may cover damage you caused to property while riding your bike.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If the incident or the damage you caused is terrible enough that it goes to court, your personal liability policy may cover the court costs, lawyer fees, and settlements you and the victim agree on outside of court.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-what-does-a-personal-liability-policy-cover\">What does a personal liability policy cover?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Like most insurance policies, personal liability policies don\'t cover everything. The common exclusions include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Damage caused by a car accident or with your car</li><li>Damage caused intentionally or as a part of a crime</li><li>Any damage or injuries to you or the people who live in your home</li><li>Any business-related expenses or damage</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Now that you know what a personal liability policy doesn’t cover, let’s look broadly at what it covers:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Bodily injury caused by you or your pets</li><li>Bodily injury occurring at your residence</li><li>Property damage caused by you or a covered family member</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"h-how-personal-liability-insurance-works-together-with-other-policies\">How personal liability insurance works together with other policies</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have personal liability coverage on specific policies, but they have limits, they can work together with umbrella policies. Here’s an example: The mail carrier falls on your steps and hurts his back. He needs surgery and is out of work for six months.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The total damage is $750,000. The coverage for personal liability on your homeowner’s insurance is $100,000, and your deductible is $2,500. After you pay $2,500 out of your pocket, your home insurance company will pay $97,500, leaving you with $650,000 in debt to cover.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>However, if you have an umbrella policy, it will pick up the difference between what your home insurance will pay and the total cost of the damages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-where-to-sign-up-for-coverage\">Where to sign up for coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You can sign up for personal liability coverage with many different insurance policies you may need. For example, </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>if you own a home, you need homeowner’s insurance because most lenders require it. Your home insurance policy may include personal liability coverage. Pay close attention to the limits, though.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Generally, home policies have $100,000 limits. However, you may be able to pay for extra coverage if you feel that’s not enough. You can also add personal coverage policies to your renter’s insurance or dwelling policy. It’s usually a part of the policy but always read the fine print since no two insurance companies have the same coverage options.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you don’t own a home or rent one, you can buy a policy to cover personal liability as a standalone policy. The insurance companies you’d contact for other insurance policies, such as home or car insurance, also sell policies for personal liability. Like any policy, shop around to ensure you’re getting the right amount of coverage at premiums you can afford.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Some insurance companies also allow you to add personal liability coverage to a personal auto or watercraft policy. Suppose you want an umbrella policy for higher coverage amounts or ensure you and your loved ones are protected. In that case, you can also buy an umbrella policy from any insurance agent.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Again, read the fine print and ensure the policy covers what you need to avoid unpleasant surprises.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-get-protected-with-the-right-policy\">Get protected with the right policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>All liability insurance policies have exclusions, and personal liability insurance is no exception. Make sure you know what a policy does and doesn’t cover and compare it to your lifestyle to ensure all situations you may find yourself in are covered. Talk to your local insurance agent to find out what options you may have.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If coverage for personal liability is included in your home insurance policy, make sure it’s enough coverage for what you think you need.  Even if you think you don’t have any personal liabilities, consider at least a small policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Unfortunately, anyone who leaves their house can find themselves liable for damage to someone or something. Whether you have kids, ride a bike, drive a car, or own a house, it\'s essential to get a personal liability policy. Having coverage to protect your finances is crucial, so you don\'t find yourself in a difficult financial situation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.clevergirlfinance.com/blog/how-personal-liability-insurance-works/\">click here.</a></p>\n<!-- /wp:paragraph -->','What Is Personal Liability Insurance And How Does It Work?','','publish','open','open','','what-is-personal-liability-insurance-and-how-does-it-work','','','2021-10-14 22:08:08','2021-10-14 22:08:08','',0,'http://smartinsurance.tips/?p=1966',0,'post','',0),(1967,1,'2021-10-14 22:05:38','2021-10-14 22:05:38','','My-Post-6','','inherit','open','closed','','my-post-6-6','','','2021-10-14 22:05:38','2021-10-14 22:05:38','',1966,'http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-6.png',0,'attachment','image/png',0),(1968,1,'2021-10-14 22:08:06','2021-10-14 22:08:06','<!-- wp:image {\"id\":1967,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-6-1024x536.png\" alt=\"\" class=\"wp-image-1967\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>If you’re responsible for an accident that causes personal injury or property damage, you need personal liability to cover the cost of the damages. Without personal liability insurance, all costs would fall on your shoulders. These costs can run into tens of thousands of dollars or sometimes higher depending on how bad the incident is.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Personal liability coverage may help decrease the cost of covering the damages to a person or property. It won’t cover 100% of the damages, but it can decrease the total amount of money you must pay out of pocket, typically limiting your out-of-pocket costs to your deductible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In this guide, we’ll help you understand how personal liability insurance works and when you should include it in your insurance portfolio.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-what-is-personal-liability-insurance\">What is personal liability insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Personal liability insurance is coverage you can add to your homeowner’s, renter’s, or personal auto policy. You can also buy a standalone policy if you don’t have any assets to insure, such as a house or car.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Personal liability coverage pays for damage to other people or properties caused by you. For example, you have friends over for dinner, and one falls on the steps leaving your house. Your personal liability coverage would help cover the cost of the medical bills and any other damage that may have occurred.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Most policies include $100,000 in personal liability coverage. Still, you can buy additional coverage or buy an umbrella policy that covers additional personal liability in cases where you may experience a high loss.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-how-does-personal-liability-insurance-work\">How does personal liability insurance work?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Personal liability coverage is a part of many insurance policies, or you can add it to many policies. Just because you have personal liability insurance on your home doesn’t mean it only covers liability at home though.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It can cover incidents outside of the home that other insurance doesn’t cover. For example, it wouldn’t cover a car accident since your car insurance should cover it. But it may cover damage you caused to property while riding your bike.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If the incident or the damage you caused is terrible enough that it goes to court, your personal liability policy may cover the court costs, lawyer fees, and settlements you and the victim agree on outside of court.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-what-does-a-personal-liability-policy-cover\">What does a personal liability policy cover?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Like most insurance policies, personal liability policies don\'t cover everything. The common exclusions include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Damage caused by a car accident or with your car</li><li>Damage caused intentionally or as a part of a crime</li><li>Any damage or injuries to you or the people who live in your home</li><li>Any business-related expenses or damage</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Now that you know what a personal liability policy doesn’t cover, let’s look broadly at what it covers:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Bodily injury caused by you or your pets</li><li>Bodily injury occurring at your residence</li><li>Property damage caused by you or a covered family member</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"h-how-personal-liability-insurance-works-together-with-other-policies\">How personal liability insurance works together with other policies</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have personal liability coverage on specific policies, but they have limits, they can work together with umbrella policies. Here’s an example: The mail carrier falls on your steps and hurts his back. He needs surgery and is out of work for six months.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The total damage is $750,000. The coverage for personal liability on your homeowner’s insurance is $100,000, and your deductible is $2,500. After you pay $2,500 out of your pocket, your home insurance company will pay $97,500, leaving you with $650,000 in debt to cover.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>However, if you have an umbrella policy, it will pick up the difference between what your home insurance will pay and the total cost of the damages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-where-to-sign-up-for-coverage\">Where to sign up for coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You can sign up for personal liability coverage with many different insurance policies you may need. For example, </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>if you own a home, you need homeowner’s insurance because most lenders require it. Your home insurance policy may include personal liability coverage. Pay close attention to the limits, though.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Generally, home policies have $100,000 limits. However, you may be able to pay for extra coverage if you feel that’s not enough. You can also add personal coverage policies to your renter’s insurance or dwelling policy. It’s usually a part of the policy but always read the fine print since no two insurance companies have the same coverage options.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you don’t own a home or rent one, you can buy a policy to cover personal liability as a standalone policy. The insurance companies you’d contact for other insurance policies, such as home or car insurance, also sell policies for personal liability. Like any policy, shop around to ensure you’re getting the right amount of coverage at premiums you can afford.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Some insurance companies also allow you to add personal liability coverage to a personal auto or watercraft policy. Suppose you want an umbrella policy for higher coverage amounts or ensure you and your loved ones are protected. In that case, you can also buy an umbrella policy from any insurance agent.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Again, read the fine print and ensure the policy covers what you need to avoid unpleasant surprises.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-get-protected-with-the-right-policy\">Get protected with the right policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>All liability insurance policies have exclusions, and personal liability insurance is no exception. Make sure you know what a policy does and doesn’t cover and compare it to your lifestyle to ensure all situations you may find yourself in are covered. Talk to your local insurance agent to find out what options you may have.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If coverage for personal liability is included in your home insurance policy, make sure it’s enough coverage for what you think you need.  Even if you think you don’t have any personal liabilities, consider at least a small policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Unfortunately, anyone who leaves their house can find themselves liable for damage to someone or something. Whether you have kids, ride a bike, drive a car, or own a house, it\'s essential to get a personal liability policy. Having coverage to protect your finances is crucial, so you don\'t find yourself in a difficult financial situation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.clevergirlfinance.com/blog/how-personal-liability-insurance-works/\">click here.</a></p>\n<!-- /wp:paragraph -->','What Is Personal Liability Insurance And How Does It Work?','','inherit','closed','closed','','1966-revision-v1','','','2021-10-14 22:08:06','2021-10-14 22:08:06','',1966,'http://smartinsurance.tips/?p=1968',0,'revision','',0),(1970,1,'2021-10-14 23:29:04','2021-10-14 23:29:04','<!-- wp:image {\"id\":1971,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-9-1024x536.png\" alt=\"\" class=\"wp-image-1971\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">Travel insurance is a type of&nbsp;insurance that&nbsp;covers the costs and losses associated with traveling. It is useful protection for those traveling domestically or abroad.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">According to a 2021 survey by insurance company Battleface, almost half of Americans have faced fees or had to absorb the cost of losses when traveling without travel insurance. Thirty-six percent of Americans say they\'re more likely to purchase travel insurance for trips abroad following the COVID-19 pandemic while 34% said they\'re more likely to do so for domestic trips.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Many companies selling travel packages also offer travel insurance.</li><li>Some travel policies cover damage to personal property, rented equipment, such as rental cars, and even ransom requests.</li><li>The main categories of travel insurance include trip cancellation or interruption coverage, baggage and personal effects coverage, medical coverage, and accidental death or flight accident coverage.</li><li>Coverage often includes 24/7 emergency services, such as replacing lost passports, cash wire assistance, and re-booking canceled flights. </li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-6\">What Is Travel Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-7\">Many companies selling tickets or travel packages, give consumers the option to purchase travel insurance, also known as travelers insurance. Some travel policies cover damage to personal property, rented equipment, such as rental cars, or even the cost of paying a ransom. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Frequently sold as a package, travel insurance may include several types of coverage. The main categories of travel insurance include trip cancellation or interruption coverage, baggage and personal effects coverage, medical expense coverage, and accidental death or flight accident coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Coverage often includes 24/7 emergency services, such as replacing lost passports, cash wire assistance, and re-booking canceled flights. Also, some travel insurance policies may duplicate existing coverage from other providers or offer protection for costs that are refundable by other means.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Tip: Before purchasing travel insurance, read the fine print to understand the cancellation policy and any coverage limits or exclusions that may apply.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-15\">Trip Cancellation or Interruption Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-16\">Trip cancellation insurance, sometimes known as trip interruption insurance or trip delay insurance, reimburses a traveler for prepaid, nonrefundable travel expenses.&nbsp;Providers vary on&nbsp;acceptable cancellation and interruption&nbsp;causes and the amount of reimbursement&nbsp;available. The most common acceptable reasons include&nbsp;illness, a death in the immediate family,&nbsp;sudden business conflicts,&nbsp;and weather-related issues.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">Trip cancellation is beneficial when paying more upfront than what you\'re comfortable losing. For example, if you pay $2,000 for a package tour and the tour\'s cancellation policy stipulates that all but $100 is refundable upon cancellation, travel insurance will cover only the nonrefundable $100. Also, there is no need to protect a refundable airline ticket.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-22\">Baggage and Personal Effects Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">Baggage and personal effects coverage protects lost, stolen, or damaged belongings during a trip. It may include coverage during travel to and from a destination. Most carriers, such as airlines, reimburse travelers if baggage is lost or destroyed because of their error. However, there may be limitations on the amount of reimbursement. Therefore, baggage and personal effects coverage provides an additional layer of protection.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The possibility of baggage and personal belongings being lost, stolen, or damaged is a frequent travel problem. Many travel insurance policies pay for belongings only after you exhaust all other available claims. Your homeowners or renters insurance may extend coverage outside of your domicile, and airlines and cruise lines are responsible for loss and damage to your baggage during transport. Also, credit cards may provide automatic protection for things like delays and baggage or rental car accidents if used for deposits or other trip-related expenses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-27\">Short-Term Medical and Major Medical Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-28\">The two primary types of medical travel insurance policies are short-term medical and major medical coverage. Short-term policies cover a traveler from five days to one year, depending on the policy chosen. Major medical coverage is&nbsp;for travelers who are planning to take longer trips&nbsp;ranging from six months to one year or longer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-30\">Medical coverage can help with medical expenses, help to locate doctors and healthcare facilities, and even assist in obtaining foreign-language services. As with other policies, coverage will vary by price and provider. Some may cover airlift travel to a medical facility, extended stays in foreign hospitals, and medical evacuation to receive care.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The U.S. government urges Americans to consult their medical insurance providers before traveling to determine whether a policy extends its coverage outside the country, as the government does not insure citizens or pay for medical expenses incurred abroad.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, medical insurance may cover the insured in the U.S. and Canada, but not in Europe. Also, some health insurance providers may require prior approval for coverage to remain valid.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\"> Important: If you have Medicare or Medicaid, be aware that they generally do not cover medical costs overseas.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-36\">Before purchasing a policy, it is imperative to read the policy provisions to see what exclusions, such as preexisting medical conditions, apply and not assume that the new coverage mirrors that of an existing plan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-38\">Emergency medical&nbsp;coverage may be redundant. Most health insurance companies pay “customary and reasonable” hospital costs if you become sick or injured while traveling, but few will pay for a medical evacuation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-40\">Accidental Death and Flight Accident Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-41\">If an accident results in death, disability, or serious injury to the traveler or </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>a family member accompanying the traveler, an accidental death and flight accident policy pays benefits to surviving beneficiaries. Flight accident insurance provides coverage for accidents and deaths occurring during flights on a licensed commercial airliner. General exclusions will apply, such as death caused by drug overdose, death resulting from sickness, et al.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Accidental death coverage may not be necessary if you already have a life insurance policy. However, benefits paid by your travel insurance coverage may be in addition to those paid by your life insurance policy, thus leaving more money to your beneficiaries.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Tip: Be sure to check your life insurance policy before leaving home if you\'re concerned about the possibility of something happening to you while traveling for business or pleasure.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-47\">Purchasing Travel Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-48\">Travel insurance will vary by the provider on cost, exclusions, and coverage. The buyer should be aware of reading all disclosure statements before they purchase the insurance. Coverage is available for single, multiple, and yearly travel. Per-trip coverage protects a single trip and is ideal for people who travel occasionally. Multi-trip coverage protects numerous trips occurring in one year, but none of the excursions can exceed 30 days. Annual coverage is for frequent travelers. It protects for a full year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In addition to the duration of travelers insurance coverage, premiums are based on the type of coverage provided, a traveler\'s age, the destination, and the cost of your trip. Standard per-trip policies cost between 4% to 10% of the trip’s cost. Specialized policy riders focus on the needs of business travelers, athletes, and expatriates.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Also, when traveling, it is suggested that a traveler register travel plans with the State Department through its free travel registration website. The nearest embassy or consulate can contact them if there is a family, state or national emergency.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Tip: Before buying a travel insurance policy check to see what protections your credit card might offer. Many travel rewards cards come with built-in travel insurance as well as other travel benefits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-56\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-57\">In this post-COVID-19 world, even if you haven\'t purchased travel insurance before, you might want to consider it now. The main types of travel insurance include trip cancellation or interruption coverage, baggage and personal effects coverage, medical expense coverage, and accidental death or flight accident coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/terms/t/travel-insurance.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Travel Insurance Defined','','publish','open','open','','travel-insurance-defined','','','2021-10-14 23:29:06','2021-10-14 23:29:06','',0,'http://smartinsurance.tips/?p=1970',0,'post','',0),(1971,1,'2021-10-14 23:25:54','2021-10-14 23:25:54','','My-Post-9','','inherit','open','closed','','my-post-9-5','','','2021-10-14 23:25:54','2021-10-14 23:25:54','',1970,'http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-9.png',0,'attachment','image/png',0),(1972,1,'2021-10-14 23:29:04','2021-10-14 23:29:04','<!-- wp:image {\"id\":1971,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-9-1024x536.png\" alt=\"\" class=\"wp-image-1971\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">Travel insurance is a type of&nbsp;insurance that&nbsp;covers the costs and losses associated with traveling. It is useful protection for those traveling domestically or abroad.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">According to a 2021 survey by insurance company Battleface, almost half of Americans have faced fees or had to absorb the cost of losses when traveling without travel insurance. Thirty-six percent of Americans say they\'re more likely to purchase travel insurance for trips abroad following the COVID-19 pandemic while 34% said they\'re more likely to do so for domestic trips.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Many companies selling travel packages also offer travel insurance.</li><li>Some travel policies cover damage to personal property, rented equipment, such as rental cars, and even ransom requests.</li><li>The main categories of travel insurance include trip cancellation or interruption coverage, baggage and personal effects coverage, medical coverage, and accidental death or flight accident coverage.</li><li>Coverage often includes 24/7 emergency services, such as replacing lost passports, cash wire assistance, and re-booking canceled flights. </li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-6\">What Is Travel Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-7\">Many companies selling tickets or travel packages, give consumers the option to purchase travel insurance, also known as travelers insurance. Some travel policies cover damage to personal property, rented equipment, such as rental cars, or even the cost of paying a ransom. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Frequently sold as a package, travel insurance may include several types of coverage. The main categories of travel insurance include trip cancellation or interruption coverage, baggage and personal effects coverage, medical expense coverage, and accidental death or flight accident coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Coverage often includes 24/7 emergency services, such as replacing lost passports, cash wire assistance, and re-booking canceled flights. Also, some travel insurance policies may duplicate existing coverage from other providers or offer protection for costs that are refundable by other means.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Tip: Before purchasing travel insurance, read the fine print to understand the cancellation policy and any coverage limits or exclusions that may apply.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-15\">Trip Cancellation or Interruption Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-16\">Trip cancellation insurance, sometimes known as trip interruption insurance or trip delay insurance, reimburses a traveler for prepaid, nonrefundable travel expenses.&nbsp;Providers vary on&nbsp;acceptable cancellation and interruption&nbsp;causes and the amount of reimbursement&nbsp;available. The most common acceptable reasons include&nbsp;illness, a death in the immediate family,&nbsp;sudden business conflicts,&nbsp;and weather-related issues.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">Trip cancellation is beneficial when paying more upfront than what you\'re comfortable losing. For example, if you pay $2,000 for a package tour and the tour\'s cancellation policy stipulates that all but $100 is refundable upon cancellation, travel insurance will cover only the nonrefundable $100. Also, there is no need to protect a refundable airline ticket.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-22\">Baggage and Personal Effects Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">Baggage and personal effects coverage protects lost, stolen, or damaged belongings during a trip. It may include coverage during travel to and from a destination. Most carriers, such as airlines, reimburse travelers if baggage is lost or destroyed because of their error. However, there may be limitations on the amount of reimbursement. Therefore, baggage and personal effects coverage provides an additional layer of protection.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The possibility of baggage and personal belongings being lost, stolen, or damaged is a frequent travel problem. Many travel insurance policies pay for belongings only after you exhaust all other available claims. Your homeowners or renters insurance may extend coverage outside of your domicile, and airlines and cruise lines are responsible for loss and damage to your baggage during transport. Also, credit cards may provide automatic protection for things like delays and baggage or rental car accidents if used for deposits or other trip-related expenses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-27\">Short-Term Medical and Major Medical Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-28\">The two primary types of medical travel insurance policies are short-term medical and major medical coverage. Short-term policies cover a traveler from five days to one year, depending on the policy chosen. Major medical coverage is&nbsp;for travelers who are planning to take longer trips&nbsp;ranging from six months to one year or longer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-30\">Medical coverage can help with medical expenses, help to locate doctors and healthcare facilities, and even assist in obtaining foreign-language services. As with other policies, coverage will vary by price and provider. Some may cover airlift travel to a medical facility, extended stays in foreign hospitals, and medical evacuation to receive care.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The U.S. government urges Americans to consult their medical insurance providers before traveling to determine whether a policy extends its coverage outside the country, as the government does not insure citizens or pay for medical expenses incurred abroad.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, medical insurance may cover the insured in the U.S. and Canada, but not in Europe. Also, some health insurance providers may require prior approval for coverage to remain valid.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\"> Important: If you have Medicare or Medicaid, be aware that they generally do not cover medical costs overseas.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-36\">Before purchasing a policy, it is imperative to read the policy provisions to see what exclusions, such as preexisting medical conditions, apply and not assume that the new coverage mirrors that of an existing plan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-38\">Emergency medical&nbsp;coverage may be redundant. Most health insurance companies pay “customary and reasonable” hospital costs if you become sick or injured while traveling, but few will pay for a medical evacuation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-40\">Accidental Death and Flight Accident Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-41\">If an accident results in death, disability, or serious injury to the traveler or </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>a family member accompanying the traveler, an accidental death and flight accident policy pays benefits to surviving beneficiaries. Flight accident insurance provides coverage for accidents and deaths occurring during flights on a licensed commercial airliner. General exclusions will apply, such as death caused by drug overdose, death resulting from sickness, et al.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Accidental death coverage may not be necessary if you already have a life insurance policy. However, benefits paid by your travel insurance coverage may be in addition to those paid by your life insurance policy, thus leaving more money to your beneficiaries.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Tip: Be sure to check your life insurance policy before leaving home if you\'re concerned about the possibility of something happening to you while traveling for business or pleasure.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-47\">Purchasing Travel Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-48\">Travel insurance will vary by the provider on cost, exclusions, and coverage. The buyer should be aware of reading all disclosure statements before they purchase the insurance. Coverage is available for single, multiple, and yearly travel. Per-trip coverage protects a single trip and is ideal for people who travel occasionally. Multi-trip coverage protects numerous trips occurring in one year, but none of the excursions can exceed 30 days. Annual coverage is for frequent travelers. It protects for a full year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In addition to the duration of travelers insurance coverage, premiums are based on the type of coverage provided, a traveler\'s age, the destination, and the cost of your trip. Standard per-trip policies cost between 4% to 10% of the trip’s cost. Specialized policy riders focus on the needs of business travelers, athletes, and expatriates.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Also, when traveling, it is suggested that a traveler register travel plans with the State Department through its free travel registration website. The nearest embassy or consulate can contact them if there is a family, state or national emergency.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Tip: Before buying a travel insurance policy check to see what protections your credit card might offer. Many travel rewards cards come with built-in travel insurance as well as other travel benefits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-56\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-57\">In this post-COVID-19 world, even if you haven\'t purchased travel insurance before, you might want to consider it now. The main types of travel insurance include trip cancellation or interruption coverage, baggage and personal effects coverage, medical expense coverage, and accidental death or flight accident coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/terms/t/travel-insurance.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Travel Insurance Defined','','inherit','closed','closed','','1970-revision-v1','','','2021-10-14 23:29:04','2021-10-14 23:29:04','',1970,'http://smartinsurance.tips/?p=1972',0,'revision','',0),(1988,1,'2021-11-05 16:56:56','2021-11-05 16:56:56','<!-- wp:image {\"id\":1956,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-2-1024x536.png\" alt=\"\" class=\"wp-image-1956\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Here are&nbsp;<strong>6 ideas for you to prepare and grow your small business</strong>&nbsp;during the Holiday Season:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>1) Set Sales Goals</strong><br>You can’t know what you need to prepare for the holiday season without knowing your goals. Sit down with your trusted team members and carve out goals for hitting different targets along the way from now until the end of the year. Define your goals as the minimum goals you need to reach, your expected goals, and your stretch goals. Don’t only define these goals in terms of revenue. Add any other goals you may have such as customer engagement&nbsp;and social media following.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>2) Create a Holiday-Focused Marketing Campaign</strong><br>Use our holiday-crazed society as a benefit to your business. We’re programmed to LOVE holidays, especially the present buying season.&nbsp;Don’t be shy about it, let your target audience know that you have what they need and since you’re a small business, you actually care about them, so you’ll do it better than the big guys.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>3) Make a Plan to Stock Up on Extra Inventory</strong><br>You’ve done your best to anticipate the crowds, their needs, and be prepared, but was it enough? Make sure you have a plan to purchase extra inventory quickly if your holiday sales are better than expected.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>4) Decorate Your Windows and Store</strong><br>Even the “grinches” of the world secretly love the holidays, and they’ll love coming into your festive store. Take some time to decorate your storefront for the season. It’ll draw the eyes of passersby and bring them in. We know you don’t have the budget of Macy’s or Tiffany’s, but a bit of holiday cheer will help your bottom line.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>5) Train Your Seasonal Employees</strong><br>You know you’ll be busier than usual this holiday season, so you hired a couple of extra employees. Invest your time and train them properly. Even though you may not see its worth now, the better their training, the better experience your customers will have, and the less stressed you’ll be about an unexpected rush.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>6) Invest in New Software</strong><br>Have you been eyeing new software? Whether you’re in need of updated bookkeeping, inventory tracking, or employee management systems. The holidays are busy enough, buy yourself this early holiday gift and enjoy the perks of your business run smoother and spend more time with your family, friends, or alone with some peace &amp; quiet.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.ondeck.com/resources/6-small-business-tips-to-an-outstanding-holiday-season\">click here.</a></p>\n<!-- /wp:paragraph -->','6 Tips to an Outstanding Holiday Season','','inherit','closed','closed','','1955-revision-v1','','','2021-11-05 16:56:56','2021-11-05 16:56:56','',1955,'http://smartinsurance.tips/?p=1988',0,'revision','',0),(1974,1,'2021-10-14 23:34:58','2021-10-14 23:34:58','<!-- wp:image {\"id\":1975,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-10-1024x536.png\" alt=\"\" class=\"wp-image-1975\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0\">What Is a Wear and Tear Exclusion?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">A wear and tear exclusion is a provision in an insurance policy that states that the normal deterioration of the insured object is not covered by the insurance policy. Insurance is designed only to protect against unforeseen losses. If insurance covered inevitable losses, insurers would have to raise their premiums dramatically to cover the expenses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>A wear and tear exclusion in an insurance contract states that losses due to normal deterioration of the insured property are not covered.</li><li>The list of exclusions in a policy may be extensive.</li><li>The insurer and insured may disagree on whether wear and tear contributed to the damage.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-5\">Understanding the Wear and Tear Exclusion</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">Wear and tear exclusions are fairly common. Auto insurance policies, for example, do not cover the cost of replacing auto parts that deteriorate with time and use, such as brake pads, timing belts, and water pumps. Auto insurance policies cover only unpredictable events such as collisions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Wear and tear exclusions are designed to keep an insurer from being held liable when damage results from a customer’s failure to properly maintain, repair, and replace deteriorated or defective portions of the insured property. To prepare for predictable losses from wear and tear, owners can self-insure by setting aside money each month in an emergency fund.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-10\">Exclusions Are Specified</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-11\">The exclusions and limitations that are specified in the contract are what determine if a property loss is covered. The list of exclusions is generally extensive.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">An insurance company may cite “wear and tear” on a claim in an effort to avoid a contractual payment. In the case of a natural disaster such as a flood or tornado, insurers will often try to invoke “wear and tear” and blame the property damage on a preexisting condition.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Other common exclusions include poor maintenance, prior damage, manufacturing defects, or faulty installation. Roof damage claims are often a cause of contention. Insurers may point to the age of the roof or its maintenance record as a cause of the damage instead of a hailstorm.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: Damage to older properties is often the cause of disputes between insured and insurer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-19\">When Parties Disagree</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-20\">A dispute over a claim can result in an insurance bad faith lawsuit. This is particularly common when older commercial properties are damaged. An insurance company will inspect the property prior to selling the policy, and the report may show the property was in acceptable or even good condition, but the insurance company may still attempt to make the “wear and tear” argument.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-22\">Wear and Tear Exclusion and Anti-Concurrent Cause Language</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">A wear and tear exclusion will not have what is commonly referred to as “anti-concurrent cause” lead-in language. This indicates that damage caused or aggravated by multiple factors, including covered and uncovered causes, will not be covered. An Illinois court ruled in 1983 that, in the absence of such “anti-concurrent cause” lead-in language, when a covered and an uncovered peril combine to cause a loss, the whole loss is covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/terms/w/wear-and-tear-exclusion.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','What Is a Wear and Tear Exclusion?','','publish','open','open','','what-is-a-wear-and-tear-exclusion','','','2021-10-14 23:34:59','2021-10-14 23:34:59','',0,'http://smartinsurance.tips/?p=1974',0,'post','',0),(1975,1,'2021-10-14 23:33:24','2021-10-14 23:33:24','','My-Post-10','','inherit','open','closed','','my-post-10-6','','','2021-10-14 23:33:24','2021-10-14 23:33:24','',1974,'http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-10.png',0,'attachment','image/png',0),(1976,1,'2021-10-14 23:34:58','2021-10-14 23:34:58','<!-- wp:image {\"id\":1975,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-10-1024x536.png\" alt=\"\" class=\"wp-image-1975\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0\">What Is a Wear and Tear Exclusion?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">A wear and tear exclusion is a provision in an insurance policy that states that the normal deterioration of the insured object is not covered by the insurance policy. Insurance is designed only to protect against unforeseen losses. If insurance covered inevitable losses, insurers would have to raise their premiums dramatically to cover the expenses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>A wear and tear exclusion in an insurance contract states that losses due to normal deterioration of the insured property are not covered.</li><li>The list of exclusions in a policy may be extensive.</li><li>The insurer and insured may disagree on whether wear and tear contributed to the damage.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-5\">Understanding the Wear and Tear Exclusion</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">Wear and tear exclusions are fairly common. Auto insurance policies, for example, do not cover the cost of replacing auto parts that deteriorate with time and use, such as brake pads, timing belts, and water pumps. Auto insurance policies cover only unpredictable events such as collisions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Wear and tear exclusions are designed to keep an insurer from being held liable when damage results from a customer’s failure to properly maintain, repair, and replace deteriorated or defective portions of the insured property. To prepare for predictable losses from wear and tear, owners can self-insure by setting aside money each month in an emergency fund.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-10\">Exclusions Are Specified</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-11\">The exclusions and limitations that are specified in the contract are what determine if a property loss is covered. The list of exclusions is generally extensive.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">An insurance company may cite “wear and tear” on a claim in an effort to avoid a contractual payment. In the case of a natural disaster such as a flood or tornado, insurers will often try to invoke “wear and tear” and blame the property damage on a preexisting condition.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Other common exclusions include poor maintenance, prior damage, manufacturing defects, or faulty installation. Roof damage claims are often a cause of contention. Insurers may point to the age of the roof or its maintenance record as a cause of the damage instead of a hailstorm.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: Damage to older properties is often the cause of disputes between insured and insurer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-19\">When Parties Disagree</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-20\">A dispute over a claim can result in an insurance bad faith lawsuit. This is particularly common when older commercial properties are damaged. An insurance company will inspect the property prior to selling the policy, and the report may show the property was in acceptable or even good condition, but the insurance company may still attempt to make the “wear and tear” argument.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-22\">Wear and Tear Exclusion and Anti-Concurrent Cause Language</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">A wear and tear exclusion will not have what is commonly referred to as “anti-concurrent cause” lead-in language. This indicates that damage caused or aggravated by multiple factors, including covered and uncovered causes, will not be covered. An Illinois court ruled in 1983 that, in the absence of such “anti-concurrent cause” lead-in language, when a covered and an uncovered peril combine to cause a loss, the whole loss is covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/terms/w/wear-and-tear-exclusion.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','What Is a Wear and Tear Exclusion?','','inherit','closed','closed','','1974-revision-v1','','','2021-10-14 23:34:58','2021-10-14 23:34:58','',1974,'http://smartinsurance.tips/?p=1976',0,'revision','',0),(1977,1,'2021-10-15 16:44:55','2021-10-15 16:44:55','<!-- wp:image {\"id\":1978,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-11-1024x536.png\" alt=\"\" class=\"wp-image-1978\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways: </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Errors and omissions insurance is a form of professional liability insurance.</li><li>E&amp;O insurance protects companies and professionals against claims of inadequate work or negligent actions made by clients.</li><li>Anyone who provides a service requires E&amp;O insurance including financial services, insurance agents, doctors, lawyers, and wedding planners.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0\">What Is Errors and Omissions Insurance (E&amp;O)?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">Errors and omissions insurance (E&amp;O) is a type of professional liability insurance that protects companies, their workers, and other professionals against claims of inadequate work or negligent actions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-7\">Understanding Errors and Omissions Insurance(E&amp;O)</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-8\">Errors and omissions insurance is a form of liability insurance. It protects companies against the full costs of a claim made by a client against a professional who provides advice or a service such as a consultant, financial adviser, insurance agent, or a lawyer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Errors and omissions insurance often covers both court costs and any settlements up to the amount specified by the insurance contract. This kind of liability insurance is generally required for professional advice-giving or service-providing businesses. Without E&amp;O insurance, a company can be held liable for up to millions in damages plus the fees associated with a legal team. E&amp;O insurance helps mitigate or eliminate these potential liabilities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, a client may sue an adviser or broker after an investment goes sour, even if the risks were well-known and within the guidelines established by the client. Even if a court or arbitration panel finds in favor of a broker or investment adviser, the legal fees can be very high, which is why E&amp;O insurance is important.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The benefits E&amp;O insurance gives companies or individuals vary greatly depending on the policy and issuing insurance company. E&amp;O insurance may or may not cover temporary employees, claims stemming from work done before the policy was in force, or claims in various jurisdictions. These policies do not cover criminal prosecution and certain liabilities that may arise in civil court not listed in the policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Insurance brokers, insurance dealers, registered investment advisers, financial planners, and other financial professionals can obtain E&amp;O insurance. Regulatory bodies, such as the Financial Industry Regulatory Authority (FINRA), or company investors often require E&amp;O insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>E&amp;O insurance is also applicable to businesses outside the financial industry including nonprofits, general maintenance companies and contractors, and engineering firms. Any other company or professional who provides a service such as wedding planners and printers also needs E&amp;O insurance. Doctors, dentists, and other medical professionals also take out E&amp;O insurance called malpractice insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The cost of a policy depends on a number of factors including the kind of business covered, its location, and any previous claims that have been paid out in the past. A person or company with numerous litigation problems has a higher underwriting risk and is likely to find E&amp;O insurance more expensive or less favorable in its terms as a result.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: A well-written contract and consistent communication during the transaction help mitigate claims.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-24\">Example of Errors and Omissions Insurance (E&amp;O)</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-25\">Let\'s say a company that hosts servers used by third parties for data purposes is breached by hackers who gain access to proprietary information and client data. The companies affected by the hack then sue the server-hosting company for damages for inadequate security. The server-hosting company has an E&amp;O insurance policy and reviews it to see what the policy does and does not cover. To the company\'s benefit, its errors and omissions policy is robust and covers such situations. The insurance company pays for the legal expenses involved in the court case against multiple companies. It also pays for any monetary damages rendered by the courts or settled in arbitration.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-27\">Having errors and omissions coverage helps the company avoid a substantial financial hit—even bankruptcy—depending on the company\'s finances. If you or your employees are in the business of providing professional advice or other professional services, E&amp;O insurance could be worth your consideration.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Who Needs Errors and Omissions Insurance (E&amp;O)?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Errors and omissions insurance is a kind of liability insurance that is generally required for professional advice-giving or service-providing businesses. Insurance brokers, insurance dealers, registered investment advisers, financial planners, and other financial professionals usually have E&amp;O insurance. Similarly, regulatory bodies, such as FINRA, or company investors often require E&amp;O insurance. E&amp;O insurance is also applicable to businesses outside the financial industry including nonprofits, general maintenance companies and contractors, and engineering firms.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Why Is Errors and Omissions Insurance Important?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Errors and omissions insurance often covers both court costs and any settlements up to the amount specified by the insurance contract.&nbsp;For example, a client may sue an adviser or broker after an investment goes sour, even if the risks were well-known and within the guidelines established by the client. Even if a court or arbitration panel finds in favor of a broker or investment adviser, the legal fees can be very high, which is why E&amp;O insurance is important.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Is E&amp;O Insurance Expensive?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The cost of an E&amp;O policy depends on a number of factors including the kind of business covered, its location, and any previous claims that have been paid out in the past. A person or company with numerous litigation problems has a higher underwriting risk and is likely to find E&amp;O insurance more expensive or less favorable in its terms as a result. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/terms/e/errors-omissions-insurance.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Errors and Omissions Insurance (E&O)','','publish','open','open','','errors-and-omissions-insurance-eo','','','2021-10-15 16:44:57','2021-10-15 16:44:57','',0,'http://smartinsurance.tips/?p=1977',0,'post','',0),(1978,1,'2021-10-15 16:43:07','2021-10-15 16:43:07','','My-Post-11','','inherit','open','closed','','my-post-11-3','','','2021-10-15 16:43:07','2021-10-15 16:43:07','',1977,'http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-11.png',0,'attachment','image/png',0),(1979,1,'2021-10-15 16:44:55','2021-10-15 16:44:55','<!-- wp:image {\"id\":1978,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-11-1024x536.png\" alt=\"\" class=\"wp-image-1978\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways: </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Errors and omissions insurance is a form of professional liability insurance.</li><li>E&amp;O insurance protects companies and professionals against claims of inadequate work or negligent actions made by clients.</li><li>Anyone who provides a service requires E&amp;O insurance including financial services, insurance agents, doctors, lawyers, and wedding planners.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0\">What Is Errors and Omissions Insurance (E&amp;O)?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">Errors and omissions insurance (E&amp;O) is a type of professional liability insurance that protects companies, their workers, and other professionals against claims of inadequate work or negligent actions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-7\">Understanding Errors and Omissions Insurance(E&amp;O)</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-8\">Errors and omissions insurance is a form of liability insurance. It protects companies against the full costs of a claim made by a client against a professional who provides advice or a service such as a consultant, financial adviser, insurance agent, or a lawyer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Errors and omissions insurance often covers both court costs and any settlements up to the amount specified by the insurance contract. This kind of liability insurance is generally required for professional advice-giving or service-providing businesses. Without E&amp;O insurance, a company can be held liable for up to millions in damages plus the fees associated with a legal team. E&amp;O insurance helps mitigate or eliminate these potential liabilities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, a client may sue an adviser or broker after an investment goes sour, even if the risks were well-known and within the guidelines established by the client. Even if a court or arbitration panel finds in favor of a broker or investment adviser, the legal fees can be very high, which is why E&amp;O insurance is important.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The benefits E&amp;O insurance gives companies or individuals vary greatly depending on the policy and issuing insurance company. E&amp;O insurance may or may not cover temporary employees, claims stemming from work done before the policy was in force, or claims in various jurisdictions. These policies do not cover criminal prosecution and certain liabilities that may arise in civil court not listed in the policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Insurance brokers, insurance dealers, registered investment advisers, financial planners, and other financial professionals can obtain E&amp;O insurance. Regulatory bodies, such as the Financial Industry Regulatory Authority (FINRA), or company investors often require E&amp;O insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>E&amp;O insurance is also applicable to businesses outside the financial industry including nonprofits, general maintenance companies and contractors, and engineering firms. Any other company or professional who provides a service such as wedding planners and printers also needs E&amp;O insurance. Doctors, dentists, and other medical professionals also take out E&amp;O insurance called malpractice insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The cost of a policy depends on a number of factors including the kind of business covered, its location, and any previous claims that have been paid out in the past. A person or company with numerous litigation problems has a higher underwriting risk and is likely to find E&amp;O insurance more expensive or less favorable in its terms as a result.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: A well-written contract and consistent communication during the transaction help mitigate claims.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-24\">Example of Errors and Omissions Insurance (E&amp;O)</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-25\">Let\'s say a company that hosts servers used by third parties for data purposes is breached by hackers who gain access to proprietary information and client data. The companies affected by the hack then sue the server-hosting company for damages for inadequate security. The server-hosting company has an E&amp;O insurance policy and reviews it to see what the policy does and does not cover. To the company\'s benefit, its errors and omissions policy is robust and covers such situations. The insurance company pays for the legal expenses involved in the court case against multiple companies. It also pays for any monetary damages rendered by the courts or settled in arbitration.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-27\">Having errors and omissions coverage helps the company avoid a substantial financial hit—even bankruptcy—depending on the company\'s finances. If you or your employees are in the business of providing professional advice or other professional services, E&amp;O insurance could be worth your consideration.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Who Needs Errors and Omissions Insurance (E&amp;O)?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Errors and omissions insurance is a kind of liability insurance that is generally required for professional advice-giving or service-providing businesses. Insurance brokers, insurance dealers, registered investment advisers, financial planners, and other financial professionals usually have E&amp;O insurance. Similarly, regulatory bodies, such as FINRA, or company investors often require E&amp;O insurance. E&amp;O insurance is also applicable to businesses outside the financial industry including nonprofits, general maintenance companies and contractors, and engineering firms.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Why Is Errors and Omissions Insurance Important?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Errors and omissions insurance often covers both court costs and any settlements up to the amount specified by the insurance contract.&nbsp;For example, a client may sue an adviser or broker after an investment goes sour, even if the risks were well-known and within the guidelines established by the client. Even if a court or arbitration panel finds in favor of a broker or investment adviser, the legal fees can be very high, which is why E&amp;O insurance is important.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Is E&amp;O Insurance Expensive?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The cost of an E&amp;O policy depends on a number of factors including the kind of business covered, its location, and any previous claims that have been paid out in the past. A person or company with numerous litigation problems has a higher underwriting risk and is likely to find E&amp;O insurance more expensive or less favorable in its terms as a result. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/terms/e/errors-omissions-insurance.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Errors and Omissions Insurance (E&O)','','inherit','closed','closed','','1977-revision-v1','','','2021-10-15 16:44:55','2021-10-15 16:44:55','',1977,'http://smartinsurance.tips/?p=1979',0,'revision','',0),(1980,1,'2021-10-15 16:51:24','2021-10-15 16:51:24','<!-- wp:image {\"id\":1981,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-12-1024x536.png\" alt=\"\" class=\"wp-image-1981\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0\">What Is Professional Liability Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">Professional liability insurance (PLI) is insurance that protects professionals such as accountants, lawyers, and physicians against negligence and other claims initiated by their clients. Professionals who have expertise in a specific area require this type of insurance because general liability insurance policies do not offer protection against claims arising out of business or professional practices such as negligence, malpractice, or misrepresentation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Professional liability insurance is used in businesses to protect against claims of negligence.</li><li>Professionals such as accountants and doctors use this insurance to protect themselves against client claims of negligence or malpractice.</li><li>Professional liability insurance is also referred to as medical malpractice insurance or errors and omissions insurance, depending on the professional.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-5\">How Professional Liability Insurance Works</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">Depending on the profession, professional liability insurance may have different names, such as medical malpractice insurance for the medical profession, and errors &amp; omissions insurance for real estate agents. Professional liability insurance is a specialty coverage that is not provided under homeowners\' endorsements, in-home business policies, or business-owners\' policies. It only covers claims made during the policy period.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Professional liability insurance policies are usually arranged on a claims-made basis, which means coverage is good only for claims made during the policy period. Typical professional liability policies will indemnify the insured against loss arising from any claim or claims made during the policy period by reason of any covered error, omission or negligent act committed in the conduct of the insured\'s professional business during the policy period. Incidents occurring before the coverage was activated may not be covered, although some policies may include a retroactive date.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-10\">What Professional Liability Insurance Does Not Include</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-11\">Coverage does not include&nbsp;criminal prosecution, nor all forms of&nbsp;legal liability&nbsp;under&nbsp;civil law, only those listed in the policy. Cyber liability, covering data breach and other technology issues, may not necessarily be included in core policies. However, insurance that covers data security and other technology security-related issues is available as a separate policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-13\">Professional Liability Policy Wording</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-14\">Some professional liability&nbsp;policies are worded&nbsp;more tightly&nbsp;than others. While a number of policy wordings are designed to satisfy a stated minimum approved wording, which makes them easier to compare, others differ dramatically in the coverages they provide. For example, breach of duty may be included if the incident occurred and was reported by the policyholder to the insurer during the policy period.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-16\">Wordings with major legal differences can be confusingly similar to non-lawyers. For instance, coverage for \"negligent act, error or omission\" indemnifies the policyholder against loss/circumstances incurred only as a result of any professional error or omission, or negligent act (i.e., the modifier \"negligent\" does not apply to all three categories, though any non-legal reader might assume that it did). Meanwhile, a&nbsp;\"negligent act, negligent error or negligent omission\" clause is a much more restrictive policy, which would deny coverage in a lawsuit alleging a non-negligent error or omission.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-18\">Example of Professional Liability Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-19\">Medical malpractice insurance is a common example of a type of professional liability insurance. Medical professionals do their work under the not inconsiderable threat of facing lawsuits for alleged medical malpractice, which is defined as an act or omission by a medical provider in which they provide treatment that falls below the standard of care, resulting in injury to or the death of the patient. While most medical malpractice cases are treated as civil torts in the United States, medical malpractice insurance can offset the cost of such lawsuits to providers. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/terms/p/professional-liability-insurance.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Professional Liability Insurance','','publish','open','open','','professional-liability-insurance','','','2021-10-15 16:51:27','2021-10-15 16:51:27','',0,'http://smartinsurance.tips/?p=1980',0,'post','',0),(1981,1,'2021-10-15 16:49:29','2021-10-15 16:49:29','','My-Post-12','','inherit','open','closed','','my-post-12-6','','','2021-10-15 16:49:29','2021-10-15 16:49:29','',1980,'http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-12.png',0,'attachment','image/png',0),(1982,1,'2021-10-15 16:51:24','2021-10-15 16:51:24','<!-- wp:image {\"id\":1981,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-12-1024x536.png\" alt=\"\" class=\"wp-image-1981\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0\">What Is Professional Liability Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">Professional liability insurance (PLI) is insurance that protects professionals such as accountants, lawyers, and physicians against negligence and other claims initiated by their clients. Professionals who have expertise in a specific area require this type of insurance because general liability insurance policies do not offer protection against claims arising out of business or professional practices such as negligence, malpractice, or misrepresentation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Professional liability insurance is used in businesses to protect against claims of negligence.</li><li>Professionals such as accountants and doctors use this insurance to protect themselves against client claims of negligence or malpractice.</li><li>Professional liability insurance is also referred to as medical malpractice insurance or errors and omissions insurance, depending on the professional.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-5\">How Professional Liability Insurance Works</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">Depending on the profession, professional liability insurance may have different names, such as medical malpractice insurance for the medical profession, and errors &amp; omissions insurance for real estate agents. Professional liability insurance is a specialty coverage that is not provided under homeowners\' endorsements, in-home business policies, or business-owners\' policies. It only covers claims made during the policy period.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Professional liability insurance policies are usually arranged on a claims-made basis, which means coverage is good only for claims made during the policy period. Typical professional liability policies will indemnify the insured against loss arising from any claim or claims made during the policy period by reason of any covered error, omission or negligent act committed in the conduct of the insured\'s professional business during the policy period. Incidents occurring before the coverage was activated may not be covered, although some policies may include a retroactive date.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-10\">What Professional Liability Insurance Does Not Include</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-11\">Coverage does not include&nbsp;criminal prosecution, nor all forms of&nbsp;legal liability&nbsp;under&nbsp;civil law, only those listed in the policy. Cyber liability, covering data breach and other technology issues, may not necessarily be included in core policies. However, insurance that covers data security and other technology security-related issues is available as a separate policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-13\">Professional Liability Policy Wording</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-14\">Some professional liability&nbsp;policies are worded&nbsp;more tightly&nbsp;than others. While a number of policy wordings are designed to satisfy a stated minimum approved wording, which makes them easier to compare, others differ dramatically in the coverages they provide. For example, breach of duty may be included if the incident occurred and was reported by the policyholder to the insurer during the policy period.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-16\">Wordings with major legal differences can be confusingly similar to non-lawyers. For instance, coverage for \"negligent act, error or omission\" indemnifies the policyholder against loss/circumstances incurred only as a result of any professional error or omission, or negligent act (i.e., the modifier \"negligent\" does not apply to all three categories, though any non-legal reader might assume that it did). Meanwhile, a&nbsp;\"negligent act, negligent error or negligent omission\" clause is a much more restrictive policy, which would deny coverage in a lawsuit alleging a non-negligent error or omission.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-18\">Example of Professional Liability Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-19\">Medical malpractice insurance is a common example of a type of professional liability insurance. Medical professionals do their work under the not inconsiderable threat of facing lawsuits for alleged medical malpractice, which is defined as an act or omission by a medical provider in which they provide treatment that falls below the standard of care, resulting in injury to or the death of the patient. While most medical malpractice cases are treated as civil torts in the United States, medical malpractice insurance can offset the cost of such lawsuits to providers. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/terms/p/professional-liability-insurance.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Professional Liability Insurance','','inherit','closed','closed','','1980-revision-v1','','','2021-10-15 16:51:24','2021-10-15 16:51:24','',1980,'http://smartinsurance.tips/?p=1982',0,'revision','',0),(1984,1,'2021-10-15 16:56:20','2021-10-15 16:56:20','<!-- wp:image {\"id\":1985,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-13-1024x536.png\" alt=\"\" class=\"wp-image-1985\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0\">Insurance, Excess Insurance, Reinsurance: An Overview</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">There are many types of insurance policies, and each has its own rules and requirements. A typical insurance policy is usually a primary insurance policy, which covers the financial cost of an insurance claim up to a certain limit. Excess insurance covers specific amounts beyond the limits in the primary policy. Reinsurance is when insurers pass a portion of their policies onto other insurers to reduce the financial cost in the event a claim is paid out.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Primary insurance is the policy that covers a financial liability for the policyholder as a result of a triggering event.</li><li>Primary insurance kicks in first with its coverage even if there are other insurance policies.</li><li>Excess insurance covers a claim after the primary insurance limit has been exhausted or used up.</li><li>Reinsurance is a way of an insurer passing policies to another insurance company to reduce the risk of claims being paid out.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-5\">Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">An insurance policy is a contract in which the policyholder receives financial reparations or protection from an adverse event that\'s covered under the policy. In return for this protection, the policyholder pays the insurance company in the form of premiums. There are various types of insurance policies that protect policyholders or those named in the policy from financial harm or liability, which is the risk of being sued.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-8\">Most insurance policies that individuals or companies buy are called primary insurance. Primary insurance is the policy that covers a financial liability for the policyholder as a result of a triggering event. Primary insurance kicks in first with its coverage even if there are other insurance policies. Only when the predetermined coverage limit has been exceeded would any other policies issue a payout. Primary insurance is the policy that covers the claim first before any other policies that are in place.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-10\">For example, the primary coverage of a fire insurance policy on a home or business would kick in if the insured property had suffered fire damage and a claim had been filed by the policyholder.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-12\">Primary Insurance Requirements</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">There may be some stipulations about timing and circumstance, such as promptness to report the claim, but generally, the insurer\'s obligations follow a similar pattern in each case. Each primary policy has a limit imposed on the amount of coverage available and normally sets deductible limits for the customer. Primary policies pay out against claims regardless of whether there are additional outstanding policies covering the same risk.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-15\">Primary Insurance and Medicare</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-16\">Primary insurance in medicine typically refers to the first payer of a claim, up to a certain limit of coverage, beyond which a secondary payer is obligated to cover additional amounts.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">For example, those with private insurance policies, who also have coverage under Medicare as a secondary policy, would have their primary insurance pay for claims up to the limit. Beyond that limit, Medicare would kick in and cover claims (assuming it was the secondary policy). In other words, Medicare would only cover costs if there were costs that the primary insurer didn\'t cover.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-20\">Excess Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-21\">Excess insurance covers a claim after the primary insurance limit has been exhausted or used up. For example, if the primary insurance coverage limit was $50,000 and the excess policy covered another $25,000, a claim of $60,000 would result in a $50,000 payout from the primary insurance and $10,000 from the excess policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">Excess policies, also called secondary policies, extend the limit of insurance coverage of the primary policy or the underlying liability policy. In other words, the underlying policy is responsible for paying any portion of a claim first before the excess policy is used. However, the underlying policy might not be a primary insurance policy but instead, could be another excess policy. Regardless of the type of insurance policy, the underlying </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">policy pays before the excess policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-25\">Umbrella Policy</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Umbrella insurance policies are written to cover several different primary liability policies. For example, a family might purchase a personal umbrella insurance policy from an insurance company to extend excess coverage over both their automobile and homeowners policy. An umbrella policy is not limited to providing coverage to only the policyholder. For example, an umbrella policy can also cover family members and those living in a household.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-28\">Umbrella policies are considered excess policies since they\'re considered extra coverage for claims that exceed the payouts and coverage limits of the primary or underlying policy. Although umbrella policies are excess policies, not all excess policies are umbrella policies. If an excess policy only applies to a single underlying policy, it is not considered to be an umbrella insurance policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-30\">Umbrella Policy Benefits</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-31\">Umbrella policies can be less expensive, meaning lower premiums for the insured, versus buying a few primary insurance policies. If the umbrella policy is purchased through the existing insurer that covers the primary policies, the overall cost is usually lower and the insured gets comprehensive coverage. Umbrella policies can also provide additional coverage not offered in the primary policy, such as protection against slander and libel.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-33\">Reinsurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-34\">Insurance companies are always at risk for claims being filed due to an event. If the event is widespread and there are many claims filed all at once, the premiums received from those policies might not be enough to cover the total amount of the claims. Insurance companies are only profitable if the premiums received for policies are more than enough to cover claims over the lifetime of those policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As a result, insurance companies can find themselves in financial hardship if they don\'t manage the risks of claims being filed based on the types of insurance coverages they have in their portfolio. Reinsurance is a way of an insurer passing or selling policies to other insurance companies to reduce the exposure or risk of claims being paid out. The insurance company taking the policies is called the reinsurance company while the insurer passing the policy is called the ceding insurance company since they\'re ceding the risk of claims being filed on the ceded policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In return, the reinsurer receives the premiums from the policies ceded to them minus a fee (called a ceding commission), which is paid to the initial insurer (the ceding insurer). In other words, reinsurance is insurance for insurance companies to help insurers remain profitable and stay in business. Unless you own or work for an insurance company, you are unlikely to encounter reinsurance on the market.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-40\">Claims with Reinsurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-41\">The fundamental operating characteristics of reinsurance are similar to primary insurance. The ceding insurance company pays the premium to the reinsurer and creates a potential claim against undesirable future risks. Were it not for the added protection of reinsurance companies, most primary insurers would either exit riskier markets or charge higher premiums on their policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>However, sometimes the reinsurer defaults on a ceded policy, meaning they can\'t cover the claim due to financial distress. As a result, the ceding company may still have a liability and may need to pay for the claims, despite ceding the policy to the reinsurer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-45\">Catastrophe Reinsurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-46\">One common example of reinsurance is known as a \"cat policy,\" short for catastrophic excess reinsurance policy. This policy covers a specific limit of loss due to catastrophic circumstances, such as a hurricane, that would force the primary insurer to pay out significant sums of claims simultaneously. Unless there are other specific cash-call provisions, which require cash payments from the reinsurer, the reinsurer is not obligated to pay until after the original insurer pays claims on its own policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Although catastrophes are rare, the amount of money paid out by an insurer could be enough to bankrupt the company. For example, Hurricane Andrew in 1992 cost $15.5 billion in damages to the state of Florida, which forced several insurance companies into financial insolvency according to the Insurance Information Institute. Catastrophe reinsurance helps spread out the risk and some of the costs of a catastrophic event.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/articles/personal-finance/081116/insurance-excess-insurance-and-reinsurance-whats-difference-all.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Understanding Insurance vs. Excess Insurance vs. Reinsurance','','publish','open','open','','understanding-insurance-vs-excess-insurance-vs-reinsurance','','','2021-10-15 16:56:22','2021-10-15 16:56:22','',0,'http://smartinsurance.tips/?p=1984',0,'post','',0),(1985,1,'2021-10-15 16:53:20','2021-10-15 16:53:20','','My-Post-13','','inherit','open','closed','','my-post-13-4','','','2021-10-15 16:53:20','2021-10-15 16:53:20','',1984,'http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-13.png',0,'attachment','image/png',0),(1986,1,'2021-10-15 16:56:20','2021-10-15 16:56:20','<!-- wp:image {\"id\":1985,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/10/My-Post-13-1024x536.png\" alt=\"\" class=\"wp-image-1985\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0\">Insurance, Excess Insurance, Reinsurance: An Overview</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">There are many types of insurance policies, and each has its own rules and requirements. A typical insurance policy is usually a primary insurance policy, which covers the financial cost of an insurance claim up to a certain limit. Excess insurance covers specific amounts beyond the limits in the primary policy. Reinsurance is when insurers pass a portion of their policies onto other insurers to reduce the financial cost in the event a claim is paid out.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Primary insurance is the policy that covers a financial liability for the policyholder as a result of a triggering event.</li><li>Primary insurance kicks in first with its coverage even if there are other insurance policies.</li><li>Excess insurance covers a claim after the primary insurance limit has been exhausted or used up.</li><li>Reinsurance is a way of an insurer passing policies to another insurance company to reduce the risk of claims being paid out.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-5\">Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">An insurance policy is a contract in which the policyholder receives financial reparations or protection from an adverse event that\'s covered under the policy. In return for this protection, the policyholder pays the insurance company in the form of premiums. There are various types of insurance policies that protect policyholders or those named in the policy from financial harm or liability, which is the risk of being sued.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-8\">Most insurance policies that individuals or companies buy are called primary insurance. Primary insurance is the policy that covers a financial liability for the policyholder as a result of a triggering event. Primary insurance kicks in first with its coverage even if there are other insurance policies. Only when the predetermined coverage limit has been exceeded would any other policies issue a payout. Primary insurance is the policy that covers the claim first before any other policies that are in place.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-10\">For example, the primary coverage of a fire insurance policy on a home or business would kick in if the insured property had suffered fire damage and a claim had been filed by the policyholder.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-12\">Primary Insurance Requirements</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">There may be some stipulations about timing and circumstance, such as promptness to report the claim, but generally, the insurer\'s obligations follow a similar pattern in each case. Each primary policy has a limit imposed on the amount of coverage available and normally sets deductible limits for the customer. Primary policies pay out against claims regardless of whether there are additional outstanding policies covering the same risk.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-15\">Primary Insurance and Medicare</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-16\">Primary insurance in medicine typically refers to the first payer of a claim, up to a certain limit of coverage, beyond which a secondary payer is obligated to cover additional amounts.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">For example, those with private insurance policies, who also have coverage under Medicare as a secondary policy, would have their primary insurance pay for claims up to the limit. Beyond that limit, Medicare would kick in and cover claims (assuming it was the secondary policy). In other words, Medicare would only cover costs if there were costs that the primary insurer didn\'t cover.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-20\">Excess Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-21\">Excess insurance covers a claim after the primary insurance limit has been exhausted or used up. For example, if the primary insurance coverage limit was $50,000 and the excess policy covered another $25,000, a claim of $60,000 would result in a $50,000 payout from the primary insurance and $10,000 from the excess policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">Excess policies, also called secondary policies, extend the limit of insurance coverage of the primary policy or the underlying liability policy. In other words, the underlying policy is responsible for paying any portion of a claim first before the excess policy is used. However, the underlying policy might not be a primary insurance policy but instead, could be another excess policy. Regardless of the type of insurance policy, the underlying </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">policy pays before the excess policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-25\">Umbrella Policy</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Umbrella insurance policies are written to cover several different primary liability policies. For example, a family might purchase a personal umbrella insurance policy from an insurance company to extend excess coverage over both their automobile and homeowners policy. An umbrella policy is not limited to providing coverage to only the policyholder. For example, an umbrella policy can also cover family members and those living in a household.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-28\">Umbrella policies are considered excess policies since they\'re considered extra coverage for claims that exceed the payouts and coverage limits of the primary or underlying policy. Although umbrella policies are excess policies, not all excess policies are umbrella policies. If an excess policy only applies to a single underlying policy, it is not considered to be an umbrella insurance policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-30\">Umbrella Policy Benefits</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-31\">Umbrella policies can be less expensive, meaning lower premiums for the insured, versus buying a few primary insurance policies. If the umbrella policy is purchased through the existing insurer that covers the primary policies, the overall cost is usually lower and the insured gets comprehensive coverage. Umbrella policies can also provide additional coverage not offered in the primary policy, such as protection against slander and libel.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"mntl-sc-block_1-0-33\">Reinsurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-34\">Insurance companies are always at risk for claims being filed due to an event. If the event is widespread and there are many claims filed all at once, the premiums received from those policies might not be enough to cover the total amount of the claims. Insurance companies are only profitable if the premiums received for policies are more than enough to cover claims over the lifetime of those policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As a result, insurance companies can find themselves in financial hardship if they don\'t manage the risks of claims being filed based on the types of insurance coverages they have in their portfolio. Reinsurance is a way of an insurer passing or selling policies to other insurance companies to reduce the exposure or risk of claims being paid out. The insurance company taking the policies is called the reinsurance company while the insurer passing the policy is called the ceding insurance company since they\'re ceding the risk of claims being filed on the ceded policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In return, the reinsurer receives the premiums from the policies ceded to them minus a fee (called a ceding commission), which is paid to the initial insurer (the ceding insurer). In other words, reinsurance is insurance for insurance companies to help insurers remain profitable and stay in business. Unless you own or work for an insurance company, you are unlikely to encounter reinsurance on the market.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-40\">Claims with Reinsurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-41\">The fundamental operating characteristics of reinsurance are similar to primary insurance. The ceding insurance company pays the premium to the reinsurer and creates a potential claim against undesirable future risks. Were it not for the added protection of reinsurance companies, most primary insurers would either exit riskier markets or charge higher premiums on their policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>However, sometimes the reinsurer defaults on a ceded policy, meaning they can\'t cover the claim due to financial distress. As a result, the ceding company may still have a liability and may need to pay for the claims, despite ceding the policy to the reinsurer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"mntl-sc-block_1-0-45\">Catastrophe Reinsurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-46\">One common example of reinsurance is known as a \"cat policy,\" short for catastrophic excess reinsurance policy. This policy covers a specific limit of loss due to catastrophic circumstances, such as a hurricane, that would force the primary insurer to pay out significant sums of claims simultaneously. Unless there are other specific cash-call provisions, which require cash payments from the reinsurer, the reinsurer is not obligated to pay until after the original insurer pays claims on its own policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Although catastrophes are rare, the amount of money paid out by an insurer could be enough to bankrupt the company. For example, Hurricane Andrew in 1992 cost $15.5 billion in damages to the state of Florida, which forced several insurance companies into financial insolvency according to the Insurance Information Institute. Catastrophe reinsurance helps spread out the risk and some of the costs of a catastrophic event.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/articles/personal-finance/081116/insurance-excess-insurance-and-reinsurance-whats-difference-all.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Understanding Insurance vs. Excess Insurance vs. Reinsurance','','inherit','closed','closed','','1984-revision-v1','','','2021-10-15 16:56:20','2021-10-15 16:56:20','',1984,'http://smartinsurance.tips/?p=1986',0,'revision','',0),(1991,1,'2021-11-30 01:53:54','2021-11-30 01:53:54','<!-- wp:image {\"id\":1993,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/11/My-Post-1-1024x536.png\" alt=\"\" class=\"wp-image-1993\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Are you struggling to save money? You’re not alone. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>According to Bankrate data, more than half of Americans have less than three months’ worth of expenses saved to help cover emergency expenses. The pandemic has been especially challenging in terms of cash management, too: Thirty-four percent of respondents in the research reported having less money in their savings accounts now versus before the financial troubles of the pandemic.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Saving money isn’t easy, but it’s not impossible, either. From big steps like refinancing your mortgage to small moves like using coupons, there are ways to keep more money in your bank account.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>14 ways to save money</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Review your spending habits</li><li>Put your smartphone to work</li><li>Compare other options for your mobile service</li><li>Turn off those notifications that want you to spend money</li><li>Refinance your mortgage</li><li>Shrink your utility bills – or try to avoid letting them grow</li><li>Evaluate your entertainment expenses</li><li>Take advantage of free community entertainment options</li><li>Be a strategic grocery shopper</li><li>Break up with brand names</li><li>Compare other banking options</li><li>Investigate alternatives for your insurance needs</li><li>Use coupons</li><li>Challenge yourself to a spending freeze</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"review\">1. Review your spending habits</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you want to figure out how to save money, you need to figure out how to spend less of it. Many banks offer access to your monthly statements, and some offer more robust categorized spending analyses and weekly summaries. Use those to get a good sense of where your money has been going and identify opportunities to reduce your costs. And if you’re married or live with your partner, make this review process a shared task. Money can be an awkward subject, but if you’re serious about making that relationship last, you’ll both need to cut some expenses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"put\">2. Put your smartphone to work</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Budgeting is the most basic piece of personal finances, but it can also be the most challenging to fit in your life. Start with the screen that you’re already staring at for multiple hours each day. There are a wide range of budgeting and money-saving apps that can help automate your savings, issue overspending alerts and invest some of your savings (note that there’s a risk involved any time you hear the word “invest”) for growth. However, an app isn’t going to do everything. Make time to evaluate your spending behavior so you can think deeper about your financial decisions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"compare\">3. Compare other options for your mobile service</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Speaking of your smartphone, how much are you paying to use it each month? As mobile adoption has increased, the number of companies who can help you stay connected has grown, too. That competition is good news for pricing. Companies like Mint Mobile, Ting and Visible all offer great plans with lower monthly price tags than the biggest mobile companies. Take a look at your data usage to see if you’re overpaying. If you’re spending most of your time at home, you should be connected to your Wi-Fi network, eliminating the need for a supersized (and expensive) data plan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"turn\">4. Turn off those notifications that want you to spend money</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>While your smartphone can be a powerful tool in helping you save, it can also be a big source of temptation to spend. Think about all those promotional emails you receive that invite you to “save big,” “shop the newest trends” and “last chance for this great deal.” Every time you open one, you’re closer to spending on a product you might otherwise have skipped. In addition to news that arrives in your inbox, plenty of retail apps are programmed to send you alerts about sales, new items and other tempting offers. Consider unsubscribing from those lists and disabling notifications.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"refinance\">5. Refinance your mortgage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Housing is likely the largest line item in your budget. If you’re paying back a home loan, compare options for refinancing your mortgage. While mortgage rates are expected to climb higher by the end of 2022, there are still great options available – near 3 percent – for homeowners with especially great credit. Depending on your current terms, you may be able to dramatically reduce your monthly payments. Keep in mind, though, that refinancing comes with closing costs, which can add up to thousands of dollars.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"shrink\">6. Shrink your utility bills – or try to avoid letting them grow</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In addition to saving money on housing, you can take small steps to save on the costs of actually living there, too. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>According to the U.S. Department of Energy, the average household can save around $225 each year by deciding to switch to LED lighting.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As the winter of 2021/2022 approaches, you’ll likely be dealing with the potential for significantly higher heating costs. The U.S. Energy Information Administration forecasts that almost half of households in the U.S. that use natural gas for heating will pay 30 percent more to stay warm during the upcoming cold season. Do whatever you can – keep the thermostat set a few degrees cooler or address any leaks by windows – to keep your costs in control.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"evaluate\">7. Evaluate your entertainment expenses</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Do you really need all 400 channels on your TV? The average basic cable package is around $60 per month, but there are loads of cheaper options, like Sling, Hulu and Netflix, to keep you entertained at home. Explore bundle options like the $14.99 Disney+, ESPN+ and Hulu package. If you’re an Amazon Prime member, you’re already paying for access to the company’s expansive library of TV shows and movies. And if you’re paying for Spotify or Apple Music, keep in mind that Amazon Music – the company’s similar all-you-can-listen-to music service – is included, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"take\">8. Take advantage of free community entertainment options</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Make the most of every opportunity to explore the parks system near your home, and do some research to find free days for local residents at museums. Even if your local city doesn’t offer a program for residents, your bank might be your free ticket. For example, Bank of America’s Museums on Us program gives BofA debit and credit card holders complimentary access to more than 225 cultural institutions across the country. Check out the website of the tourism bureau in your city or the biggest city nearby, too. These organizations specialize in pointing people toward fun, low-cost attractions and activities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"be\">9. Be a strategic grocery shopper</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You’re not going to be able to stop buying groceries, but you can stop throwing unused food away. A 2020 study conducted by researchers at Penn State University estimates that the average household throws away more than $1,800 of food each year. As you make your grocery list, think about what found its way into the waste basket last time and how to avoid a similar fate. The study found that those who made a shopping list before going to the store typically threw away less food, so take extra time to plan out your meals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"break\">10. Break up with brand names</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>While you’re making that grocery list, think about some of the items in your pantry: pasta noodles, spices and other non-perishable ingredients you always keep around. Do you really need the top-shelf brand name with those foods? Compare ingredients and nutritional labels. If there is no significant difference between them other than the price, you’re simply paying for the packaging – not the actual product that will nourish your health. It doesn’t just apply to food, either. Think about the regular goods – toilet paper, paper towels and hand soap – that you keep at your house, and try to find a lower-priced alternative.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"other\">11. Compare other banking options</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you’re paying any fees for your checking or savings account, it’s time to figure out how to reduce those costs. Online-only institutions like Ally Bank and Discover do not charge monthly service fees. Additionally, online banks also pay some of the best interest rates on money market accounts, CDs and other deposit accounts. While those rates are low right now (it’s a low-rate environment), earning a 0.5 percent interest on your stash of savings is much better than earning a 0.01 percent rate. Some banks will pay you a bonus for opening a savings or checking account, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"investigate\">12. Investigate alternatives for your insurance needs</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have a track record of safe driving, it’s time to ask if another insurance provider will do a better job of rewarding that good behavior. Compare other options with your existing insurance company to see how much you can lower your premiums while maintaining an equal amount of coverage. And if you’re not spending much time at the wheel, it may be wise to think about pay-per-mile or pay-per-use insurance, which can match coverage based on the amount you actually use your vehicle and save in the neighborhood of 30 percent on your costs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"use\">13. Use coupons</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The concept of couponing might sound old-school, but finding deals does not require clipping portions of the Sunday newspaper. You know that “promo code” box that sits on the checkout page of nearly every e-commerce website? See if you can find one before you click buy with a simple search. There are also extensions like Honey and Coupert that automatically do the work for you while you shop. Capital One Shopping is another option, which is available to everyone – not just Capital One customers. The bank says it helped find consumers a collective $160 million in savings last year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"challenge\">14. Challenge yourself to a spending freeze</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When companies want to save money, they issue hiring freezes. When you want to save money, try a spending freeze. That doesn’t mean you’ll stop spending altogether – you have to pay your bills to maintain good credit. Instead, you’ll cut all your unnecessary expenses for a certain period. Think about it like a diet where you might give up sweets. In a spending freeze, you’ll get a good sense of how much you’re spending, and you’ll watch all that money add up. That means no restaurants and no trips to the coffee shop – anything that seems extra is deemed unnecessary.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Strategies for time-specific goals</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In addition to thinking about how to save money, you’ll want to think about two key pieces of information: What you’re saving for and when you’ll need the money. Some goals are far in the distant future – saving for retirement when you’re just out of college, for example – while other goals like buying a car or taking a vacation are much closer on the horizon. Depending on your timeline, you’ll need to explore different strategies and tactics for making changes that will save more money.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:table -->\n<figure class=\"wp-block-table\"><table><thead><tr><th><strong>Strategies for time-specific goals</strong></th></tr><tr><th><strong>How to save money<br>daily</strong></th><th><strong>How to save money monthly</strong></th><th><strong>How to save money yearly</strong></th></tr></thead><tbody><tr><td>Make coffee at home instead of going to the cafe.Take your lunch to work.Focus on making dinner at home instead of going out for meals.Disable notifications on your phone to avoid impulse spending.</td><td>Outline a plan such as the&nbsp;<a href=\"https://www.bankrate.com/banking/what-is-the-50-30-20-rule/\">50/30/20</a>&nbsp;approach before the month begins.Monitor your spending each week to track your progress.Pay your credit card in full to avoid finance charges.Automate a portion of every paycheck to your savings account.</td><td>Take advantage of employer-matching 401(k) contributions.Open an&nbsp;<a href=\"https://www.bankrate.com/investing/what-is-an-ira/\">IRA</a>&nbsp;if you’re eligible, and maximize your contributions.If you receive an annual tax refund, deposit it in your savings account, or invest it.Focus on expanding your&nbsp;<a href=\"https://www.bankrate.com/personal-finance/why-financial-literacy-is-so-important/\">financial literacy</a>&nbsp;to understand investment options.</td></tr></tbody></table></figure>\n<!-- /wp:table -->\n\n<!-- wp:heading -->\n<h2>Saving strategies for specific goals</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Saving is about working toward something. If you have a specific deadline in mind for when you need a certain amount of money, outlining a plan and sticking to it is critical. Saving should be an everyday routine that involves monitoring your progress and identifying ways to accelerate the cash flowing to your savings account. Get started with these tips for some of the most common goals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.bankrate.com/banking/savings/how-to-save-money/\">click here.</a></p>\n<!-- /wp:paragraph -->','How to save money: 14 easy tips','','publish','open','open','','how-to-save-money-14-easy-tips','','','2021-11-30 01:53:56','2021-11-30 01:53:56','',0,'http://smartinsurance.tips/?p=1991',0,'post','',0),(1992,1,'2021-11-30 01:46:25','2021-11-30 01:46:25','<!-- wp:divi/placeholder /-->','How to save money: 14 easy tips','','inherit','closed','closed','','1991-revision-v1','','','2021-11-30 01:46:25','2021-11-30 01:46:25','',1991,'http://smartinsurance.tips/?p=1992',0,'revision','',0),(1993,1,'2021-11-30 01:48:05','2021-11-30 01:48:05','','My-Post-1','','inherit','open','closed','','my-post-1-5','','','2021-11-30 01:48:05','2021-11-30 01:48:05','',1991,'http://smartinsurance.tips/wp-content/uploads/2021/11/My-Post-1.png',0,'attachment','image/png',0),(1994,1,'2021-11-30 01:53:54','2021-11-30 01:53:54','<!-- wp:image {\"id\":1993,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/11/My-Post-1-1024x536.png\" alt=\"\" class=\"wp-image-1993\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Are you struggling to save money? You’re not alone. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>According to Bankrate data, more than half of Americans have less than three months’ worth of expenses saved to help cover emergency expenses. The pandemic has been especially challenging in terms of cash management, too: Thirty-four percent of respondents in the research reported having less money in their savings accounts now versus before the financial troubles of the pandemic.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Saving money isn’t easy, but it’s not impossible, either. From big steps like refinancing your mortgage to small moves like using coupons, there are ways to keep more money in your bank account.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>14 ways to save money</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Review your spending habits</li><li>Put your smartphone to work</li><li>Compare other options for your mobile service</li><li>Turn off those notifications that want you to spend money</li><li>Refinance your mortgage</li><li>Shrink your utility bills – or try to avoid letting them grow</li><li>Evaluate your entertainment expenses</li><li>Take advantage of free community entertainment options</li><li>Be a strategic grocery shopper</li><li>Break up with brand names</li><li>Compare other banking options</li><li>Investigate alternatives for your insurance needs</li><li>Use coupons</li><li>Challenge yourself to a spending freeze</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"review\">1. Review your spending habits</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you want to figure out how to save money, you need to figure out how to spend less of it. Many banks offer access to your monthly statements, and some offer more robust categorized spending analyses and weekly summaries. Use those to get a good sense of where your money has been going and identify opportunities to reduce your costs. And if you’re married or live with your partner, make this review process a shared task. Money can be an awkward subject, but if you’re serious about making that relationship last, you’ll both need to cut some expenses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"put\">2. Put your smartphone to work</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Budgeting is the most basic piece of personal finances, but it can also be the most challenging to fit in your life. Start with the screen that you’re already staring at for multiple hours each day. There are a wide range of budgeting and money-saving apps that can help automate your savings, issue overspending alerts and invest some of your savings (note that there’s a risk involved any time you hear the word “invest”) for growth. However, an app isn’t going to do everything. Make time to evaluate your spending behavior so you can think deeper about your financial decisions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"compare\">3. Compare other options for your mobile service</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Speaking of your smartphone, how much are you paying to use it each month? As mobile adoption has increased, the number of companies who can help you stay connected has grown, too. That competition is good news for pricing. Companies like Mint Mobile, Ting and Visible all offer great plans with lower monthly price tags than the biggest mobile companies. Take a look at your data usage to see if you’re overpaying. If you’re spending most of your time at home, you should be connected to your Wi-Fi network, eliminating the need for a supersized (and expensive) data plan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"turn\">4. Turn off those notifications that want you to spend money</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>While your smartphone can be a powerful tool in helping you save, it can also be a big source of temptation to spend. Think about all those promotional emails you receive that invite you to “save big,” “shop the newest trends” and “last chance for this great deal.” Every time you open one, you’re closer to spending on a product you might otherwise have skipped. In addition to news that arrives in your inbox, plenty of retail apps are programmed to send you alerts about sales, new items and other tempting offers. Consider unsubscribing from those lists and disabling notifications.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"refinance\">5. Refinance your mortgage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Housing is likely the largest line item in your budget. If you’re paying back a home loan, compare options for refinancing your mortgage. While mortgage rates are expected to climb higher by the end of 2022, there are still great options available – near 3 percent – for homeowners with especially great credit. Depending on your current terms, you may be able to dramatically reduce your monthly payments. Keep in mind, though, that refinancing comes with closing costs, which can add up to thousands of dollars.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"shrink\">6. Shrink your utility bills – or try to avoid letting them grow</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In addition to saving money on housing, you can take small steps to save on the costs of actually living there, too. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>According to the U.S. Department of Energy, the average household can save around $225 each year by deciding to switch to LED lighting.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As the winter of 2021/2022 approaches, you’ll likely be dealing with the potential for significantly higher heating costs. The U.S. Energy Information Administration forecasts that almost half of households in the U.S. that use natural gas for heating will pay 30 percent more to stay warm during the upcoming cold season. Do whatever you can – keep the thermostat set a few degrees cooler or address any leaks by windows – to keep your costs in control.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"evaluate\">7. Evaluate your entertainment expenses</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Do you really need all 400 channels on your TV? The average basic cable package is around $60 per month, but there are loads of cheaper options, like Sling, Hulu and Netflix, to keep you entertained at home. Explore bundle options like the $14.99 Disney+, ESPN+ and Hulu package. If you’re an Amazon Prime member, you’re already paying for access to the company’s expansive library of TV shows and movies. And if you’re paying for Spotify or Apple Music, keep in mind that Amazon Music – the company’s similar all-you-can-listen-to music service – is included, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"take\">8. Take advantage of free community entertainment options</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Make the most of every opportunity to explore the parks system near your home, and do some research to find free days for local residents at museums. Even if your local city doesn’t offer a program for residents, your bank might be your free ticket. For example, Bank of America’s Museums on Us program gives BofA debit and credit card holders complimentary access to more than 225 cultural institutions across the country. Check out the website of the tourism bureau in your city or the biggest city nearby, too. These organizations specialize in pointing people toward fun, low-cost attractions and activities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"be\">9. Be a strategic grocery shopper</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You’re not going to be able to stop buying groceries, but you can stop throwing unused food away. A 2020 study conducted by researchers at Penn State University estimates that the average household throws away more than $1,800 of food each year. As you make your grocery list, think about what found its way into the waste basket last time and how to avoid a similar fate. The study found that those who made a shopping list before going to the store typically threw away less food, so take extra time to plan out your meals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"break\">10. Break up with brand names</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>While you’re making that grocery list, think about some of the items in your pantry: pasta noodles, spices and other non-perishable ingredients you always keep around. Do you really need the top-shelf brand name with those foods? Compare ingredients and nutritional labels. If there is no significant difference between them other than the price, you’re simply paying for the packaging – not the actual product that will nourish your health. It doesn’t just apply to food, either. Think about the regular goods – toilet paper, paper towels and hand soap – that you keep at your house, and try to find a lower-priced alternative.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"other\">11. Compare other banking options</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you’re paying any fees for your checking or savings account, it’s time to figure out how to reduce those costs. Online-only institutions like Ally Bank and Discover do not charge monthly service fees. Additionally, online banks also pay some of the best interest rates on money market accounts, CDs and other deposit accounts. While those rates are low right now (it’s a low-rate environment), earning a 0.5 percent interest on your stash of savings is much better than earning a 0.01 percent rate. Some banks will pay you a bonus for opening a savings or checking account, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"investigate\">12. Investigate alternatives for your insurance needs</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you have a track record of safe driving, it’s time to ask if another insurance provider will do a better job of rewarding that good behavior. Compare other options with your existing insurance company to see how much you can lower your premiums while maintaining an equal amount of coverage. And if you’re not spending much time at the wheel, it may be wise to think about pay-per-mile or pay-per-use insurance, which can match coverage based on the amount you actually use your vehicle and save in the neighborhood of 30 percent on your costs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"use\">13. Use coupons</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The concept of couponing might sound old-school, but finding deals does not require clipping portions of the Sunday newspaper. You know that “promo code” box that sits on the checkout page of nearly every e-commerce website? See if you can find one before you click buy with a simple search. There are also extensions like Honey and Coupert that automatically do the work for you while you shop. Capital One Shopping is another option, which is available to everyone – not just Capital One customers. The bank says it helped find consumers a collective $160 million in savings last year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"challenge\">14. Challenge yourself to a spending freeze</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When companies want to save money, they issue hiring freezes. When you want to save money, try a spending freeze. That doesn’t mean you’ll stop spending altogether – you have to pay your bills to maintain good credit. Instead, you’ll cut all your unnecessary expenses for a certain period. Think about it like a diet where you might give up sweets. In a spending freeze, you’ll get a good sense of how much you’re spending, and you’ll watch all that money add up. That means no restaurants and no trips to the coffee shop – anything that seems extra is deemed unnecessary.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Strategies for time-specific goals</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In addition to thinking about how to save money, you’ll want to think about two key pieces of information: What you’re saving for and when you’ll need the money. Some goals are far in the distant future – saving for retirement when you’re just out of college, for example – while other goals like buying a car or taking a vacation are much closer on the horizon. Depending on your timeline, you’ll need to explore different strategies and tactics for making changes that will save more money.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:table -->\n<figure class=\"wp-block-table\"><table><thead><tr><th><strong>Strategies for time-specific goals</strong></th></tr><tr><th><strong>How to save money<br>daily</strong></th><th><strong>How to save money monthly</strong></th><th><strong>How to save money yearly</strong></th></tr></thead><tbody><tr><td>Make coffee at home instead of going to the cafe.Take your lunch to work.Focus on making dinner at home instead of going out for meals.Disable notifications on your phone to avoid impulse spending.</td><td>Outline a plan such as the&nbsp;<a href=\"https://www.bankrate.com/banking/what-is-the-50-30-20-rule/\">50/30/20</a>&nbsp;approach before the month begins.Monitor your spending each week to track your progress.Pay your credit card in full to avoid finance charges.Automate a portion of every paycheck to your savings account.</td><td>Take advantage of employer-matching 401(k) contributions.Open an&nbsp;<a href=\"https://www.bankrate.com/investing/what-is-an-ira/\">IRA</a>&nbsp;if you’re eligible, and maximize your contributions.If you receive an annual tax refund, deposit it in your savings account, or invest it.Focus on expanding your&nbsp;<a href=\"https://www.bankrate.com/personal-finance/why-financial-literacy-is-so-important/\">financial literacy</a>&nbsp;to understand investment options.</td></tr></tbody></table></figure>\n<!-- /wp:table -->\n\n<!-- wp:heading -->\n<h2>Saving strategies for specific goals</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Saving is about working toward something. If you have a specific deadline in mind for when you need a certain amount of money, outlining a plan and sticking to it is critical. Saving should be an everyday routine that involves monitoring your progress and identifying ways to accelerate the cash flowing to your savings account. Get started with these tips for some of the most common goals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.bankrate.com/banking/savings/how-to-save-money/\">click here.</a></p>\n<!-- /wp:paragraph -->','How to save money: 14 easy tips','','inherit','closed','closed','','1991-revision-v1','','','2021-11-30 01:53:54','2021-11-30 01:53:54','',1991,'http://smartinsurance.tips/?p=1994',0,'revision','',0),(1996,1,'2021-11-30 02:01:06','2021-11-30 02:01:06','<!-- wp:gallery {\"ids\":[1997],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/11/My-Post-2-1024x536.png\" alt=\"\" data-id=\"1997\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/11/My-Post-2.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1997\" class=\"wp-image-1997\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Saying \"no\" is hard. Saying \"no\" when a family member is asking for help—and that help comes in the form of money? That can feel impossible. Here\'s how to set money boundaries and save face.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Saying \"no\" to someone asking for help can be a difficult thing for many of us. This can be especially true when the people asking for help are family—and the help they\'re asking for is money. But as plenty of folks who have done so will tell you, mixing family and money can bring complications, especially when all you really want to say is \"no.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"Some people will go into debt to give money to someone else, and that\'s a huge financial mistake,\" says personal finance advisor Lynette Khalfani-Cox. \"You have to set firm boundaries and determine the type of help you will give and under what circumstances.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Yes, this includes with your siblings, your own children, and aging parents—all people with whom it may be especially hard (but all the more important) to set those boundaries. These steps can help.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Ask yourself key questions.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>People lose jobs. They get sick or get into accidents, they have messy divorces, and they hit rough patches in life. The question to ask is whether the situation causing a person to request help from you is a rare crisis—or the reflection of long-term financial drama. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Are you being asked to help with money in a horrible, unprecedented situation? Or is it to protect someone from the natural consequences of their own actions—to enable their destructive behavior? In the latter case, \"if the banks won\'t lend them money, why should you?\" Khalfani-Cox asks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you\'re uncomfortable turning someone down, ask yourself why you feel pressured to say \"yes\" when your boundaries feel threatened. \"You can\'t think you are someone else\'s financial savior,\" Khalfani-Cox adds. \"Or that the worst-case scenario will happen if you don\'t step in.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Prepare these answers instead.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When turning down a request for financial assistance, you don\'t need to justify your actions or provide any explanations. A simple \"<a href=\"https://www.realsimple.com/work-life/life-strategies/ways-to-say-no\">no</a>\" can suffice.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you\'re concerned saying \"no\" will impact your relationship negatively, say so. \"It can literally be \'I don\'t believe this is healthy for you or our relationship. I\'m not trying to hurt you, but I do need to establish financial boundaries,\" Khalfani-Cox says.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Christine Manley, a licensed clinical psychologist based in Nashville, recommends writing yourself a script or role-playing with a partner or friend to help you feel more comfortable initiating the conversation.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>She stresses that setting boundaries tends not be a one-time major conversation. \"People think boundary-setting is going to be this really big, tense awkward conversation like an intervention,\" she says. But in practice, \"it\'s just saying \'no\' to requests that make you uncomfortable right when the request happens.\" </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A parent of an adult child asking for financial support could say something like, \"I want to work toward a place where you\'re not dependent on me,\" Manley advises. You could add, \"I\'m still your parent and feel this is in your best interest to help you become a healthier person,\" she says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Or, you could work with your child to chart a path toward financial independence over a defined period of time.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Remember: Momentary guilt beats long-term resentment.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It\'s not uncommon to feel guilt when you say \"no\" to a family member\'s request for financial help. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This can be especially true among women.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"Women have been very much socialized to experience guilt when they say \'no,\'\" Manley says. \"Just because that guilt is there does not mean you\'re doing something unkind. You\'re allowed to say \'no\' to things that make you uncomfortable.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>And while guilt may be a difficult momentary feeling, a slow-growing, constantly grating chronic resentment at having given beyond your means can be worse.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Become OK with upsetting other people.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>People tend to struggle to say \"no\" to family members in need because they don\'t want to upset them or risk damaging the relationship. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But upsetting people is a natural side effect of having boundaries.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"Anytime you\'re trying to set healthy boundaries, it upsets people,\" Manley says. And while people tend to worry most about the people they could offend, Khalfani-Cox says they should worry more about giving in to a request that makes them squirm.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"No person\'s love and acceptance and close ties to their family members should have to be dependent upon the person\'s ability or willingness to provide financial support to the other party,\" Khalfani-Cox concludes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/articles/personal-finance/081116/insurance-excess-insurance-and-reinsurance-whats-difference-all.asp\">clic</a><a href=\"https://www.realsimple.com/work-life/money/set-money-boundaries-with-family\">k here</a><a href=\"https://www.investopedia.com/articles/personal-finance/081116/insurance-excess-insurance-and-reinsurance-whats-difference-all.asp\">.</a></p>\n<!-- /wp:paragraph -->','How to Set Money Boundaries With Your Family','','publish','open','open','','how-to-set-money-boundaries-with-your-family','','','2021-11-30 02:01:08','2021-11-30 02:01:08','',0,'http://smartinsurance.tips/?p=1996',0,'post','',0),(1997,1,'2021-11-30 01:58:12','2021-11-30 01:58:12','','My-Post-2','','inherit','open','closed','','my-post-2-5','','','2021-11-30 01:58:12','2021-11-30 01:58:12','',1996,'http://smartinsurance.tips/wp-content/uploads/2021/11/My-Post-2.png',0,'attachment','image/png',0),(1998,1,'2021-11-30 02:01:06','2021-11-30 02:01:06','<!-- wp:gallery {\"ids\":[1997],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/11/My-Post-2-1024x536.png\" alt=\"\" data-id=\"1997\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2021/11/My-Post-2.png\" data-link=\"http://smartinsurance.tips/?attachment_id=1997\" class=\"wp-image-1997\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Saying \"no\" is hard. Saying \"no\" when a family member is asking for help—and that help comes in the form of money? That can feel impossible. Here\'s how to set money boundaries and save face.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Saying \"no\" to someone asking for help can be a difficult thing for many of us. This can be especially true when the people asking for help are family—and the help they\'re asking for is money. But as plenty of folks who have done so will tell you, mixing family and money can bring complications, especially when all you really want to say is \"no.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"Some people will go into debt to give money to someone else, and that\'s a huge financial mistake,\" says personal finance advisor Lynette Khalfani-Cox. \"You have to set firm boundaries and determine the type of help you will give and under what circumstances.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Yes, this includes with your siblings, your own children, and aging parents—all people with whom it may be especially hard (but all the more important) to set those boundaries. These steps can help.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Ask yourself key questions.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>People lose jobs. They get sick or get into accidents, they have messy divorces, and they hit rough patches in life. The question to ask is whether the situation causing a person to request help from you is a rare crisis—or the reflection of long-term financial drama. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Are you being asked to help with money in a horrible, unprecedented situation? Or is it to protect someone from the natural consequences of their own actions—to enable their destructive behavior? In the latter case, \"if the banks won\'t lend them money, why should you?\" Khalfani-Cox asks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you\'re uncomfortable turning someone down, ask yourself why you feel pressured to say \"yes\" when your boundaries feel threatened. \"You can\'t think you are someone else\'s financial savior,\" Khalfani-Cox adds. \"Or that the worst-case scenario will happen if you don\'t step in.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Prepare these answers instead.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When turning down a request for financial assistance, you don\'t need to justify your actions or provide any explanations. A simple \"<a href=\"https://www.realsimple.com/work-life/life-strategies/ways-to-say-no\">no</a>\" can suffice.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you\'re concerned saying \"no\" will impact your relationship negatively, say so. \"It can literally be \'I don\'t believe this is healthy for you or our relationship. I\'m not trying to hurt you, but I do need to establish financial boundaries,\" Khalfani-Cox says.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Christine Manley, a licensed clinical psychologist based in Nashville, recommends writing yourself a script or role-playing with a partner or friend to help you feel more comfortable initiating the conversation.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>She stresses that setting boundaries tends not be a one-time major conversation. \"People think boundary-setting is going to be this really big, tense awkward conversation like an intervention,\" she says. But in practice, \"it\'s just saying \'no\' to requests that make you uncomfortable right when the request happens.\" </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A parent of an adult child asking for financial support could say something like, \"I want to work toward a place where you\'re not dependent on me,\" Manley advises. You could add, \"I\'m still your parent and feel this is in your best interest to help you become a healthier person,\" she says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Or, you could work with your child to chart a path toward financial independence over a defined period of time.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Remember: Momentary guilt beats long-term resentment.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It\'s not uncommon to feel guilt when you say \"no\" to a family member\'s request for financial help. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This can be especially true among women.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"Women have been very much socialized to experience guilt when they say \'no,\'\" Manley says. \"Just because that guilt is there does not mean you\'re doing something unkind. You\'re allowed to say \'no\' to things that make you uncomfortable.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>And while guilt may be a difficult momentary feeling, a slow-growing, constantly grating chronic resentment at having given beyond your means can be worse.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3>Become OK with upsetting other people.</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>People tend to struggle to say \"no\" to family members in need because they don\'t want to upset them or risk damaging the relationship. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But upsetting people is a natural side effect of having boundaries.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"Anytime you\'re trying to set healthy boundaries, it upsets people,\" Manley says. And while people tend to worry most about the people they could offend, Khalfani-Cox says they should worry more about giving in to a request that makes them squirm.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"No person\'s love and acceptance and close ties to their family members should have to be dependent upon the person\'s ability or willingness to provide financial support to the other party,\" Khalfani-Cox concludes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/articles/personal-finance/081116/insurance-excess-insurance-and-reinsurance-whats-difference-all.asp\">clic</a><a href=\"https://www.realsimple.com/work-life/money/set-money-boundaries-with-family\">k here</a><a href=\"https://www.investopedia.com/articles/personal-finance/081116/insurance-excess-insurance-and-reinsurance-whats-difference-all.asp\">.</a></p>\n<!-- /wp:paragraph -->','How to Set Money Boundaries With Your Family','','inherit','closed','closed','','1996-revision-v1','','','2021-11-30 02:01:06','2021-11-30 02:01:06','',1996,'http://smartinsurance.tips/?p=1998',0,'revision','',0),(2000,1,'2021-11-30 02:15:38','2021-11-30 02:15:38','<!-- wp:image {\"id\":2001,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/11/My-Post-6-1024x536.png\" alt=\"\" class=\"wp-image-2001\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>As the pandemic continues, homeowners are encouraged to spend more time indoors—so get ready for more remodel requests.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Here\'s five projects that loom large on many wish lists and expert advice on executing them correctly. Some are variations of existing trends, but all are expected to add function, value, and joy to houses inside and out.<br>&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>#1 Better outfitted mudrooms</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Help homeowners avoid frantic searches for keys, backpacks, gloves, hats, lost socks, and more by constructing a mudroom that’s dedicated to different needs. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Homeowners who build from scratch are increasingly purchasing a plan with a mudroom, also called an all-purpose drop zone, says Laurel Verazza Gecek of The Plan Collection, a design company that offers house plans online. For those homeowners who call on you to renovate, suggest they convert an underutilized space, such as part of a garage or laundry room.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Additional functions in high demand are drop-off areas for package and grocery-store deliveries; pet washing stations with an oversized sink or shower pan and storage; specified storage for each family member; laundry equipment area complemented with shelves, a counter for folding, and a sink; a central charging station for everyone’s tech tools; and something fun such as a boot dryer. Go with a waterproof, easy-to-clean luxury vinyl tile floor and install enough recessed LED lights.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image -->\n<figure class=\"wp-block-image\"><img src=\"https://www.proremodeler.com/sites/proremodeler/files/imce-users/ud8690/2021-09/Mudroom%2C%20The%20Plan%20Collection.jpg\" alt=\"mudroom\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p><em>Photo: The Plan Collection</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>#2 More specialized outdoor “rooms”&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Creating the equivalent of rooms in a backyard started pre-pandemic, but after sheltering indoors, more homeowners asked their remodeling professionals to build different spaces to suit favorite interests. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A small backyard? No problem. Advise clients to narrow their list. Landscape architect Ryan Kettelkamp of Chicago-area Kettelkamp &amp; Kettelkamp found more clients wanted an outdoor kitchen this past season. It didn’t have to rival their indoor one, but worked well with a grill, water source, and the newest bell and whistle: a pizza oven.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Others, he expects, will want a firepit or fireplace and lawn or terrace to set out a large screen and chairs to watch movies, and an edible garden, after avoiding supermarket runs last year. Raised rectangular wood planters, aluminum troughs, and big frost-hardy containers help gardeners also avoid bending and weeding.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>By erecting some trellises, homeowners can also plant up and conserve land. Kettlekamp says to be sure there’s a nearby water source and suggest fencing that goes deep and high to prevent animals from sharing produce.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For hardscape, Kettelkamp recommends classic bluestone installed in a random contemporary pattern of 12 by 24 inch or 18 by 36 inch stones.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>So clients can use their rooms even as weather gets nippy, suggest they purchase a heater, similar to what restaurants use to warm outdoor diners. The 2021 Houzz &amp; Home Study, also found an uptick in fixing up beds, borders, and lawns, and upgrading decks, porches, or balconies. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image -->\n<figure class=\"wp-block-image\"><img src=\"https://www.proremodeler.com/sites/proremodeler/files/imce-users/ud8690/2021-09/Marvin%20Modern%20Living%20Room.jpg\" alt=\"marvin windows\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p><em>Photo: courtesy Marvin</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>#3 More window, door, and wall glazing to savor nature</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The trend of homeowners wanting to feel as though they’re outdoors even when they can’t be is expected to continue as nature is considered a boon to wellness. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Be ready to change out windows and doors, and sometimes an entire wall to fit larger glass options. Some like garage-style glass doors that roll up for an edgier look, designers say. In kitchens, Chicago designer Mick De Giulio of de Giulio Kitchen Design installs windows as high as possible (depending on ceiling height) and down to the top of a countertop (36 inches), but if there’s no countertop, close to the floor.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“Any way to gain glass and a view is preferred,” he says. De Giulio also likes the availability from manufacturers of windows and doors with less framework for a thinner profile. An example is Marvin’s Modern window line that achieves a narrow modern aesthetic, says Christine Marvin, vice president of design.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The line is extremely durable and energy efficient, she adds. &nbsp;&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image -->\n<figure class=\"wp-block-image\"><img src=\"https://www.proremodeler.com/sites/proremodeler/files/imce-users/ud8690/2021-09/ADU%202%20.png\" alt=\"ADU\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p><em>Photo: Studio Shed</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>#4 More flexible home offices</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Another pandemic lesson was the importance of having a place for adults to conduct office work and children to do homework. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In fact, searches for home offices were up 108%, according to the 2021 Houzz Emerging Home Design Trends Report. And even as many return to the workplace and school, coronavirus numbers are expected to make adaptable areas popular.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Help your clients find a room or area that will work, depending on the desired level of privacy, light, and quiet, but make it work for other uses as well.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Hartford, Conn.-based designer Sharon McCormick suggests asking clients these questions to guide your design:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Do you need a door?&nbsp;</li><li>Do you want a space with a window for natural light?&nbsp;</li><li>Are you willing to share space?&nbsp;</li><li>Do you have an extra room to use, a big walk-in closet, a large landing, or attic or basement?&nbsp;</li><li>What accessories do you need—a work surface with built-in keyboard, ergonomic chair, a guest chair, good lighting, file cabinet, outlets?&nbsp;</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Two new trends to be aware of are installing a screen on a wall and using a standing desk, says McCormick.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>One caveat: Chicago designer Tom Segal of Kaufman Segal cautions about having a guest bedroom double as workspace. “It’s a challenge to keep changing it from one use to the other and putting away papers,” he says. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image -->\n<figure class=\"wp-block-image\"><img src=\"https://www.proremodeler.com/sites/proremodeler/files/imce-users/ud8690/2021-09/Scott%20Bremner%20ADU.jpg\" alt=\"adu\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p><em>Photo: Studio Shed</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>#5. Accessory dwelling units&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>After constructing and remodeling your share of tiny houses and he/she sheds, get ready for more clients requesting an accessory dwelling unit (ADU). </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>These structures generally are detached from the main house and range in size between 500 and 800 square feet but as large as 1,200 square feet, says Caitlin Bigelow, an ADU advocate who runs Maxable, an educational resource on ADUs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Increased approval from planning and building departments has boosted ADU popularity, especially as a housing solution for homeowners needing space for returning grown children, for renters to help meet the shortage of affordable housing, and older parents wanting to age in place privately in what’s often called a “granny flat.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Be sure to check local codes on size, setbacks, and other requirements, and that the unit has good natural light, insulation, key appliances, and features that reflect universal design principles so it’s accessible for all, notes Bigelow.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>She also recommends installing wide enough doorways for a wheelchair and removing thresholds between areas, for example. “You want to plan smart from the start,” she says. Also consider saving time and economies of scale by starting with a prefab model such as one of Studio Shed’s larger “Summit/ADU” units, available in custom configurations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.proremodeler.com/5-remodeling-projects-expected-boom-2022\">click here.</a></p>\n<!-- /wp:paragraph -->','5 Remodeling Projects Expected to Boom in 2022','','publish','open','open','','5-remodeling-projects-expected-to-boom-in-2022','','','2021-11-30 02:15:40','2021-11-30 02:15:40','',0,'http://smartinsurance.tips/?p=2000',0,'post','',0),(2001,1,'2021-11-30 02:13:03','2021-11-30 02:13:03','','My-Post-6','','inherit','open','closed','','my-post-6-7','','','2021-11-30 02:13:03','2021-11-30 02:13:03','',2000,'http://smartinsurance.tips/wp-content/uploads/2021/11/My-Post-6.png',0,'attachment','image/png',0),(2002,1,'2021-11-30 02:15:38','2021-11-30 02:15:38','<!-- wp:image {\"id\":2001,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/11/My-Post-6-1024x536.png\" alt=\"\" class=\"wp-image-2001\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>As the pandemic continues, homeowners are encouraged to spend more time indoors—so get ready for more remodel requests.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Here\'s five projects that loom large on many wish lists and expert advice on executing them correctly. Some are variations of existing trends, but all are expected to add function, value, and joy to houses inside and out.<br>&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>#1 Better outfitted mudrooms</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Help homeowners avoid frantic searches for keys, backpacks, gloves, hats, lost socks, and more by constructing a mudroom that’s dedicated to different needs. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Homeowners who build from scratch are increasingly purchasing a plan with a mudroom, also called an all-purpose drop zone, says Laurel Verazza Gecek of The Plan Collection, a design company that offers house plans online. For those homeowners who call on you to renovate, suggest they convert an underutilized space, such as part of a garage or laundry room.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Additional functions in high demand are drop-off areas for package and grocery-store deliveries; pet washing stations with an oversized sink or shower pan and storage; specified storage for each family member; laundry equipment area complemented with shelves, a counter for folding, and a sink; a central charging station for everyone’s tech tools; and something fun such as a boot dryer. Go with a waterproof, easy-to-clean luxury vinyl tile floor and install enough recessed LED lights.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image -->\n<figure class=\"wp-block-image\"><img src=\"https://www.proremodeler.com/sites/proremodeler/files/imce-users/ud8690/2021-09/Mudroom%2C%20The%20Plan%20Collection.jpg\" alt=\"mudroom\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p><em>Photo: The Plan Collection</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>#2 More specialized outdoor “rooms”&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Creating the equivalent of rooms in a backyard started pre-pandemic, but after sheltering indoors, more homeowners asked their remodeling professionals to build different spaces to suit favorite interests. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A small backyard? No problem. Advise clients to narrow their list. Landscape architect Ryan Kettelkamp of Chicago-area Kettelkamp &amp; Kettelkamp found more clients wanted an outdoor kitchen this past season. It didn’t have to rival their indoor one, but worked well with a grill, water source, and the newest bell and whistle: a pizza oven.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Others, he expects, will want a firepit or fireplace and lawn or terrace to set out a large screen and chairs to watch movies, and an edible garden, after avoiding supermarket runs last year. Raised rectangular wood planters, aluminum troughs, and big frost-hardy containers help gardeners also avoid bending and weeding.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>By erecting some trellises, homeowners can also plant up and conserve land. Kettlekamp says to be sure there’s a nearby water source and suggest fencing that goes deep and high to prevent animals from sharing produce.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For hardscape, Kettelkamp recommends classic bluestone installed in a random contemporary pattern of 12 by 24 inch or 18 by 36 inch stones.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>So clients can use their rooms even as weather gets nippy, suggest they purchase a heater, similar to what restaurants use to warm outdoor diners. The 2021 Houzz &amp; Home Study, also found an uptick in fixing up beds, borders, and lawns, and upgrading decks, porches, or balconies. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image -->\n<figure class=\"wp-block-image\"><img src=\"https://www.proremodeler.com/sites/proremodeler/files/imce-users/ud8690/2021-09/Marvin%20Modern%20Living%20Room.jpg\" alt=\"marvin windows\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p><em>Photo: courtesy Marvin</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>#3 More window, door, and wall glazing to savor nature</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The trend of homeowners wanting to feel as though they’re outdoors even when they can’t be is expected to continue as nature is considered a boon to wellness. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Be ready to change out windows and doors, and sometimes an entire wall to fit larger glass options. Some like garage-style glass doors that roll up for an edgier look, designers say. In kitchens, Chicago designer Mick De Giulio of de Giulio Kitchen Design installs windows as high as possible (depending on ceiling height) and down to the top of a countertop (36 inches), but if there’s no countertop, close to the floor.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“Any way to gain glass and a view is preferred,” he says. De Giulio also likes the availability from manufacturers of windows and doors with less framework for a thinner profile. An example is Marvin’s Modern window line that achieves a narrow modern aesthetic, says Christine Marvin, vice president of design.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The line is extremely durable and energy efficient, she adds. &nbsp;&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image -->\n<figure class=\"wp-block-image\"><img src=\"https://www.proremodeler.com/sites/proremodeler/files/imce-users/ud8690/2021-09/ADU%202%20.png\" alt=\"ADU\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p><em>Photo: Studio Shed</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>#4 More flexible home offices</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Another pandemic lesson was the importance of having a place for adults to conduct office work and children to do homework. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In fact, searches for home offices were up 108%, according to the 2021 Houzz Emerging Home Design Trends Report. And even as many return to the workplace and school, coronavirus numbers are expected to make adaptable areas popular.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Help your clients find a room or area that will work, depending on the desired level of privacy, light, and quiet, but make it work for other uses as well.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Hartford, Conn.-based designer Sharon McCormick suggests asking clients these questions to guide your design:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><li>Do you need a door?&nbsp;</li><li>Do you want a space with a window for natural light?&nbsp;</li><li>Are you willing to share space?&nbsp;</li><li>Do you have an extra room to use, a big walk-in closet, a large landing, or attic or basement?&nbsp;</li><li>What accessories do you need—a work surface with built-in keyboard, ergonomic chair, a guest chair, good lighting, file cabinet, outlets?&nbsp;</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Two new trends to be aware of are installing a screen on a wall and using a standing desk, says McCormick.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>One caveat: Chicago designer Tom Segal of Kaufman Segal cautions about having a guest bedroom double as workspace. “It’s a challenge to keep changing it from one use to the other and putting away papers,” he says. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image -->\n<figure class=\"wp-block-image\"><img src=\"https://www.proremodeler.com/sites/proremodeler/files/imce-users/ud8690/2021-09/Scott%20Bremner%20ADU.jpg\" alt=\"adu\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p><em>Photo: Studio Shed</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>#5. Accessory dwelling units&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>After constructing and remodeling your share of tiny houses and he/she sheds, get ready for more clients requesting an accessory dwelling unit (ADU). </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>These structures generally are detached from the main house and range in size between 500 and 800 square feet but as large as 1,200 square feet, says Caitlin Bigelow, an ADU advocate who runs Maxable, an educational resource on ADUs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Increased approval from planning and building departments has boosted ADU popularity, especially as a housing solution for homeowners needing space for returning grown children, for renters to help meet the shortage of affordable housing, and older parents wanting to age in place privately in what’s often called a “granny flat.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Be sure to check local codes on size, setbacks, and other requirements, and that the unit has good natural light, insulation, key appliances, and features that reflect universal design principles so it’s accessible for all, notes Bigelow.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>She also recommends installing wide enough doorways for a wheelchair and removing thresholds between areas, for example. “You want to plan smart from the start,” she says. Also consider saving time and economies of scale by starting with a prefab model such as one of Studio Shed’s larger “Summit/ADU” units, available in custom configurations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.proremodeler.com/5-remodeling-projects-expected-boom-2022\">click here.</a></p>\n<!-- /wp:paragraph -->','5 Remodeling Projects Expected to Boom in 2022','','inherit','closed','closed','','2000-revision-v1','','','2021-11-30 02:15:38','2021-11-30 02:15:38','',2000,'http://smartinsurance.tips/?p=2002',0,'revision','',0),(2003,1,'2021-11-30 02:27:08','2021-11-30 02:27:08','<!-- wp:image {\"id\":2004,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/11/My-Post-12-1024x536.png\" alt=\"\" class=\"wp-image-2004\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Fire pits satisfy a yen for the out of doors—without the hassle of loading up the car, pitching a tent, and potentially facing annoying, post-pandemic crowds. There’s something transporting about sitting around a campfire, marshmallow-laden stick in hand, watching the flames dance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We don’t want to toss a wet blanket on your outdoor fun, but here’s a not-so-fun fact: There are at least 5,300 injuries per year related to fire pits or outdoor heaters that send people to the emergency room, according to 2017 data from the Consumer Product Safety Commission. Even kids are at risk. A 2019 study published in the Journal of Burn Care &amp; Research found that those 19 years and younger suffered 10,951 burns related to fire pits between 2006 and 2017.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>So whether you gather around a portable fire pit, a built-in fireplace, a chimenea, or a simple hole in the ground ringed with stones, here’s how to play it safe while you’re working on your s’mores game. Ukulele not required (but definitely recommended).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To prevent accidental fires, place the pit far from the house, garage, barn, toolshed and other structures that can burn, says Chuck Roydhouse, a veteran career firefighter and president of the Chimney Safety Institute of America.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Also avoid bushes and trees, railing, fencing, awnings, clotheslines, and electrical wires, which are vulnerable to sparks and extreme heat.&nbsp;“The fire’s heat dries out everything above it,” says Roydhouse, who has a degree in fire science. “If something becomes dry and brittle enough over time and gets to a certain temperature, it’ll ignite. You don’t even need a spark; the heat alone can ignite it.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The ideal place for a fire pit is in the center of a backyard, at least 20 to 25 feet away from anything, Roydhouse says. “With yards that don’t have that kind of space, keep at least a 10-foot buffer zone around the pit,” he adds.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>And don’t forget the weather. Try to avoid a windy spot, and never put a pit on a wood or composite deck. If your fire pit is going directly on the ground, clear the area underneath of all foliage in a circle at least twice the pit’s diameter. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Contain Sparks</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Always place a spark screen on top of the pit once you’ve built the fire. Keep a garden hose on hand as well to douse the flames if they get out of control. Never use a bucket of water. “Dumping water on a wood-burning fire forms a hard crust on top of remaining wood, coals, and ash, and causes a lot of water to run off,” Roydhouse says. “As a result, you may not quench the fire completely and still have hot coals burning underneath the crust.”&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Choose Wood Wisely</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Avoid the softest woods like cedar or pine, which tend to smoke and spark, says Leroy Hite, owner of Cutting Edge Firewood in Atlanta. Get hardwoods like ash, hickory, and oak, which burn the longest. Hickory has a strong, classic “campfire” scent, and oak is almost odorless. You can also try a wood that’s moderately hard, such as cherry, which has a sweet aroma, or birch, which doesn’t smoke or spark much.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“Make sure the wood is dry—the dryer the better—and make sure it isn’t rotten,” Hite says. “Best-case scenario, the wood was fresh, put into a kiln until it has an internal moisture under 20 percent, and then stored inside until it’s delivered.” Hite says you can check the wood’s moisture by cutting log in half and using a moisture meter.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Toast Like a Master</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Skewer marshmallows on the end of a long, fire-safe metal rod or grill fork with a heatproof handle. If all you have is a metal shish kebab skewer, hold it with a pot holder or oven mitt to avoid getting burned. If you’re after a golden-brown crust, don’t hold the marshmallow over big flames; they toast better over a low fire or hot coals, according to Campfire, the marshmallow company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Kill the Embers</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To douse the fire, spread out the coals, ash, and unburnt logs in the thinnest layer possible. Then set the garden hose nozzle to a wide-spray or “fog” pattern, Roydhouse says, and spray the pit to lower the temperature and cool the area. Saturate the area until the embers die.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Going Beyond S\'mores</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You can use a fire pit’s hot embers and grate to cook whole meals, says Sarah Huck, co-author of “Campfire Cookery: Adventuresome Recipes and Other Curiosities for the Great Outdoors.” A foil packet is a good starting point. Fill it with cut-up veggies plus a protein, then place it directly over the coals. “Fish, accompanied by thinly sliced potatoes, is great to cook while you’re just sitting around the fire drinking wine,” she says. “The key is to slice things thin to make sure they cook through.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.consumerreports.org/outdoor-safety/fire-pit-safety-advice-a9497640315/\">click here.</a></p>\n<!-- /wp:paragraph -->','Safety Rules: CR\'s Guide to Fire Pits','','publish','open','open','','safety-rules-crs-guide-to-fire-pits','','','2021-11-30 02:27:22','2021-11-30 02:27:22','',0,'http://smartinsurance.tips/?p=2003',0,'post','',0),(2004,1,'2021-11-30 02:25:43','2021-11-30 02:25:43','','My-Post-12','','inherit','open','closed','','my-post-12-7','','','2021-11-30 02:25:43','2021-11-30 02:25:43','',2003,'http://smartinsurance.tips/wp-content/uploads/2021/11/My-Post-12.png',0,'attachment','image/png',0),(2005,1,'2021-11-30 02:27:08','2021-11-30 02:27:08','<!-- wp:image {\"id\":2004,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/11/My-Post-12-1024x536.png\" alt=\"\" class=\"wp-image-2004\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>Fire pits satisfy a yen for the out of doors—without the hassle of loading up the car, pitching a tent, and potentially facing annoying, post-pandemic crowds. There’s something transporting about sitting around a campfire, marshmallow-laden stick in hand, watching the flames dance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We don’t want to toss a wet blanket on your outdoor fun, but here’s a not-so-fun fact: There are at least 5,300 injuries per year related to fire pits or outdoor heaters that send people to the emergency room, according to 2017 data from the Consumer Product Safety Commission. Even kids are at risk. A 2019 study published in the Journal of Burn Care &amp; Research found that those 19 years and younger suffered 10,951 burns related to fire pits between 2006 and 2017.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>So whether you gather around a portable fire pit, a built-in fireplace, a chimenea, or a simple hole in the ground ringed with stones, here’s how to play it safe while you’re working on your s’mores game. Ukulele not required (but definitely recommended).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To prevent accidental fires, place the pit far from the house, garage, barn, toolshed and other structures that can burn, says Chuck Roydhouse, a veteran career firefighter and president of the Chimney Safety Institute of America.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Also avoid bushes and trees, railing, fencing, awnings, clotheslines, and electrical wires, which are vulnerable to sparks and extreme heat.&nbsp;“The fire’s heat dries out everything above it,” says Roydhouse, who has a degree in fire science. “If something becomes dry and brittle enough over time and gets to a certain temperature, it’ll ignite. You don’t even need a spark; the heat alone can ignite it.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The ideal place for a fire pit is in the center of a backyard, at least 20 to 25 feet away from anything, Roydhouse says. “With yards that don’t have that kind of space, keep at least a 10-foot buffer zone around the pit,” he adds.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>And don’t forget the weather. Try to avoid a windy spot, and never put a pit on a wood or composite deck. If your fire pit is going directly on the ground, clear the area underneath of all foliage in a circle at least twice the pit’s diameter. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Contain Sparks</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Always place a spark screen on top of the pit once you’ve built the fire. Keep a garden hose on hand as well to douse the flames if they get out of control. Never use a bucket of water. “Dumping water on a wood-burning fire forms a hard crust on top of remaining wood, coals, and ash, and causes a lot of water to run off,” Roydhouse says. “As a result, you may not quench the fire completely and still have hot coals burning underneath the crust.”&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Choose Wood Wisely</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Avoid the softest woods like cedar or pine, which tend to smoke and spark, says Leroy Hite, owner of Cutting Edge Firewood in Atlanta. Get hardwoods like ash, hickory, and oak, which burn the longest. Hickory has a strong, classic “campfire” scent, and oak is almost odorless. You can also try a wood that’s moderately hard, such as cherry, which has a sweet aroma, or birch, which doesn’t smoke or spark much.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“Make sure the wood is dry—the dryer the better—and make sure it isn’t rotten,” Hite says. “Best-case scenario, the wood was fresh, put into a kiln until it has an internal moisture under 20 percent, and then stored inside until it’s delivered.” Hite says you can check the wood’s moisture by cutting log in half and using a moisture meter.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Toast Like a Master</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Skewer marshmallows on the end of a long, fire-safe metal rod or grill fork with a heatproof handle. If all you have is a metal shish kebab skewer, hold it with a pot holder or oven mitt to avoid getting burned. If you’re after a golden-brown crust, don’t hold the marshmallow over big flames; they toast better over a low fire or hot coals, according to Campfire, the marshmallow company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Kill the Embers</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To douse the fire, spread out the coals, ash, and unburnt logs in the thinnest layer possible. Then set the garden hose nozzle to a wide-spray or “fog” pattern, Roydhouse says, and spray the pit to lower the temperature and cool the area. Saturate the area until the embers die.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Going Beyond S\'mores</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You can use a fire pit’s hot embers and grate to cook whole meals, says Sarah Huck, co-author of “Campfire Cookery: Adventuresome Recipes and Other Curiosities for the Great Outdoors.” A foil packet is a good starting point. Fill it with cut-up veggies plus a protein, then place it directly over the coals. “Fish, accompanied by thinly sliced potatoes, is great to cook while you’re just sitting around the fire drinking wine,” she says. “The key is to slice things thin to make sure they cook through.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.consumerreports.org/outdoor-safety/fire-pit-safety-advice-a9497640315/\">click here.</a></p>\n<!-- /wp:paragraph -->','Safety Rules: CR\'s Guide to Fire Pits','','inherit','closed','closed','','2003-revision-v1','','','2021-11-30 02:27:08','2021-11-30 02:27:08','',2003,'http://smartinsurance.tips/?p=2005',0,'revision','',0),(2006,1,'2021-11-30 02:35:08','2021-11-30 02:35:08','<!-- wp:image {\"id\":2007,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/11/My-Post-13-1024x536.png\" alt=\"\" class=\"wp-image-2007\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p>We all love cash value, so it seems like a no-brainer to have cash value life insurance. Well, let\'s talk through it. Even though getting life insurance is important, a cash value policy may not be what you expect. It’s likely a lot more expensive than you thought, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In this article, we\'ll go over what cash value life insurance is, how it works, and the different types. Our goal is to help you understand it so you can make the best life insurance decision for yourself!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-what-is-cash-value-life-insurance\">What is cash value life insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Cash value life insurance is more than insurance. It’s life insurance with a savings account attached to it. A portion of your premium covers the death benefit (the amount your loved ones receive if you die), and the other part goes into the savings vehicle. Most cash value insurance policies are permanent policies, which means that they last for your lifetime or as long as you pay the premiums.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-how-cash-value-life-insurance-works\">How cash value life insurance works</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most cash value policies have a premium payment. This is the amount you pay to cover the death benefit. If you pay these premiums on time, your loved ones receive the death benefit when you die. The cash value portion is the savings vehicle. Any money beyond the level of premium payment is invested in the cash value. Depending on the policy type, it earns interest, or you may invest it in particular assets e.g. stock market funds.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Either way, the value grows over time, or that’s the intent. The cash value decreases the insurance company’s risk because they use the money to offset the death benefit when they pay it out. But, you may use the cash value for other purposes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-types-of-cash-value-life-insurance\">Types of cash value life insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You have a few options when choosing a cash value life insurance policy. Knowing the features of each can help you decide.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"h-whole-life-insurance\">Whole life insurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A whole life policy lasts for your entire life. It has the same premium and death benefit for the policy’s life, and the insurance company sets a set rate of return on the cash value. Most policyholders earn around 2% on their cash value.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"h-universal-life-insurance\">Universal life insurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A universal life insurance policy is more complicated because you have flexibility with the premiums and coverage amounts.&nbsp;As long as you cover the minimum premium for the death benefit, you can pay more or just the minimum amount each month. If you have extra money, you can pay it toward your universal policy and invest it in the cash value. You can also have your premiums deducted from the cash value when your cash value reaches a certain point.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"h-variable-life-insurance\">Variable life insurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you want more than a ‘savings account’ for your life insurance’s cash portion, variable life offers investment options, such as stocks and bonds. It’s riskier because there’s no guarantee your cash value will appreciate (it may decrease). But the reward is often much more significant.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-cash-value-vs-term-life-insurance\">Cash value vs. term life insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Cash value life insurance is not the same as term life insurance. They have the same premise - a death benefit that pays your loved ones when you die, but that’s it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Term life insurance doesn’t have a cash value. It’s also only applicable for a specified period. For example, a 10-year term policy expires after ten years. If you’re alive (that’s a good thing), the policy expires. Some insurance companies allow you to convert it to a permanent policy or renew the term. You may need to qualify, a.k.a. have a medical exam and undergo underwriting, which will likely increase your rates for your older age if nothing else.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-pros-vs-cons-of-cash-value-life-insurance\">Pros vs. cons of cash value life insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Every life insurance policy has many benefits and downsides. Understanding both sides helps you choose the right policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"h-pros\">Pros</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><li>It lasts for your lifetime. As long as you pay your premiums, your beneficiaries will receive what’s left of your death benefit.</li><li>You may use the cash value to cover your premiums after years of paying premiums.</li><li>You can borrow from the cash value and/or withdraw funds from it to use while you’re alive.</li><li>The money grows tax-deferred. You don’t incur a&nbsp;<a href=\"https://www.irs.gov/faqs/interest-dividends-other-types-of-income/life-insurance-disability-insurance-proceeds/life-insurance-disability-insurance-proceeds\" target=\"_blank\" rel=\"noreferrer noopener\">tax liability</a>&nbsp;until you withdraw the earnings.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"h-cons\">Cons</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><li>The premiums on a cash value life insurance policy are much higher than term life insurance policies.</li><li>The fees are excessive. You may find less costly ways to invest the extra money you pay toward your life insurance.</li><li>Cash value policies are often hard to understand. Some people buy them without fully understanding what they’re buying or investing in.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 id=\"h-who-should-and-shouldn-t-apply-for-cash-value-life-insurance\">Who should and shouldn’t apply for cash value life insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Like any financial decision, whether cash value life insurance is right for you or not depends on your situation. Young families usually stick with term life insurance policies. They are predictable and cover families when they have the least money available for a crisis, such as death. A term policy can cover events such as a mortgage, children going to college, or providing a surviving spouse with income.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Cash value policies are more expensive, but they provide another outlet for investing. If you’ve maxed out your retirement contributions in your 401K and/or IRA, a cash value policy may make sense. You should also make sure you’re secure in all other areas of your life. Do you have an emergency fund? Have you paid off all consumer debt? If you have disposable income you’re looking to invest, then a cash value policy may make sense.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-5-ways-to-access-your-cash-value-life-insurance\">5 ways to access your cash value life insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You can’t walk up to an ATM and withdraw the cash value of your life insurance policy. You may only access the cash in one of these five ways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"h-1-take-out-a-loan-against-the-cash-value\">1. Take out a loan against the cash value</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Once you accumulate a cash value, you can take out a loan. The insurance company determines the terms, and yes, you’ll pay interest. Even though you pay this interest to yourself, it’s still a cost.&nbsp;If you don’t pay the loan back, the insurance company decreases the death benefit dollar-for-dollar when you die.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"h-2-make-a-partial-withdrawal\">2. Make a partial withdrawal</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>While you can’t get the money from an ATM, you can partially withdraw some of your policy’s cash value. This leaves your policy intact but decreases the total death benefit dollar-for-dollar. For example, if you have a $100,000 policy and withdraw $10,000 from your cash value, your loved ones get $90,000 rather than $100,000 when you die.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"h-3-surrender-the-policy\">3. Surrender the policy</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you’ve decided you no longer want the policy, you can surrender it. You receive the cash value, minus fees and taxes, and the policy ends. Your loved ones no longer have a death benefit, but you also don’t have to pay premiums any longer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"h-4-sell-your-policy-for-a-life-insurance-settlement\">4. Sell your policy for a life insurance settlement</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Some brokers offer a life insurance settlement, which means they offer to settle your life insurance for a lesser amount. If your policy is worth $100,000, they’ll offer a payoff that’s less than $100,000. Settling may provide you with more than surrendering the policy, but if you settle for more than the total premiums paid, you’ll owe taxes on the&nbsp;<a href=\"https://www.investopedia.com/terms/c/capital_gains_tax.asp\" target=\"_blank\" rel=\"noreferrer noopener\">capital gains</a>.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 id=\"h-5-pay-the-premium-with-the-cash-value\">5. Pay the premium with the cash value</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If your cash value is high enough, you may use the cash to pay your premiums on your permanent life insurance policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-what-can-you-do-with-the-cash\">What can you do with the cash?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The cash is yours to do what you want. The life insurance company doesn’t tell you how to use it or approve your intended use. Remember, when you take the cash, you decrease or surrender the death benefit. If you intended to leave your loved ones with a legacy, support a loved one financially, or want to help your family with your estate costs, invest the cash somewhere. They’ll be able to access it when you die.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"h-is-a-cash-value-life-insurance-policy-a-good-choice\">Is a cash value life insurance policy a good choice?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A cash value life insurance policy has its benefits, but only in certain situations. If you haven\'t maxed out your tax-advantaged retirement or you still have debts, investing your money in those areas may provide a greater return on your investment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.clevergirlfinance.com/blog/cash-value-life-insurance/\">click here.</a></p>\n<!-- /wp:paragraph -->','How Does Cash Value Life Insurance Work?','','publish','open','open','','how-does-cash-value-life-insurance-work','','','2021-11-30 02:35:10','2021-11-30 02:35:10','',0,'http://smartinsurance.tips/?p=2006',0,'post','',0),(2007,1,'2021-11-30 02:33:17','2021-11-30 02:33:17','','My-Post-13','','inherit','open','closed','','my-post-13-5','','','2021-11-30 02:33:17','2021-11-30 02:33:17','',2006,'http://smartinsurance.tips/wp-content/uploads/2021/11/My-Post-13.png',0,'attachment','image/png',0),