Courtesy of iii.org Coverage needs change as circumstances in our lives change; an annual insurance review will ensure you have the proper coverage for your needs and budget. Our insurance needs change as circumstances in our lives change, which is why we recommend doing an annual insurance review. When you’re reviewing your insurance coverage, these ten questions can help you figure out whether you may need to talk to your insurance professional about making a change to your …
Insurance
Business Interruption Insurance – What is it?
Courtesy of iii.org Business interruption insurance can be as vital to your survival as a business as fire insurance. Most people would never consider opening a business without buying insurance to cover damage due to fire and windstorms. But too many small business owners fail to think about how they would manage if a fire or other disaster damaged their business premises so that they were temporarily unusable. Business interruption coverage is not sold separately. It is added to a property …
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Renter’s Insurance-What You Need to Know
Courtesy of iii.org If you rent a house or apartment and experience a fire or other disaster, your landlord’s insurance will only cover the costs of repairing the building. To financially protect yourself you will need to buy renters or tenants insurance. Renters insurance protections Like homeowners insurance, renters insurance includes three key types of financial protection: Coverage for personal possessions Liability protection Additional living expenses (ALE) The …
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What is a Beneficiary
Courtesy of iii.org A beneficiary is the person or entity you name in a life insurance policy to receive the death benefit. You can name: One person Two or more people The trustee of a trust you’ve set up A charity Your estate If you don’t name a beneficiary, the death benefit will be paid to your estate. Two “levels” of beneficiaries Your life insurance policy should have both “primary” and “contingent” beneficiaries. The primary beneficiary gets the death benefits if …
Has Your Car Insurance Been Cancelled?
Courtesy of iii.org There's a difference between an insurance company cancelling a policy and choosing not to renew it. Learn why your insurance might not be renewed Auto insurance cancellation Insurance companies cannot cancel a policy that has been in force for more than 60 days except when: You fail to pay the premium You have committed fraud or made serious misrepresentations on your application Your drivers license has been revoked or suspended. Auto insurance …
Home-Based Business & Insurance
Courtesy of iii.orgWhether you’re running a part-time, seasonal or full-time business from your home, you’ll want to carefully consider your risks and insurance needs. Starting a business—even at home—can be a challenging venture, and having the right insurance can provide a financial safety net and peace of mind. Your insurance choices should, in part, be based on the type of business you operate. For instance, if you’re a sole practitioner home-based accountant, you’ll have very different …
