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InsuranceAfter an Accident Insurance ClaimsMake the insurance claims process easier by following these steps.Am I Covered? Car Insurance QuestionsAsk your insurance agent these questions. It helps to understand the types and extent of coverage you have. There are a lot, but you're paying a lot.Appealing an Insurance SettlementIf you have a difference of opinion on your insurance settlement, you can begin an appeal process, starting with your agent, moving to the claims adjuster at your insurance company, or your state's watchdog agency for insurance consumers. What's Your Insurance Score?Like a credit score used by banks, insurance scores rate your risk (how financially stable you are). Research has shown that people who are in better shape credit-wise tend to file less insurance claims. Working With a Claims AdjusterOnce you have notified your insurance company of your loss, you will meet with a claims or field adjuster employed by the company. If You Have No InsuranceIf you have no insurance (or less insurance coverage than you thought), your recovery will be based on your own resources and help from friends, relatives and your community. Estimating Your Home's ValueDo you have enough insurance on your home to rebuild it if it is destroyed? Do you even know how to calculate the amount of insurance you need? Key Insurance Terms Determining ValueKnowing these terms helps to understand the process insurance agencies and relief organizations use to determine the value of your loss. Your tax accountant can also help you when claiming your losses. Top Homeowners Insurance MythsHomeowner's insurance can be a bit complicated. William S. Coffman, Jr., WHN's Guest Columnist, provides some common myths about insurance and insights into the realities of insurance and the claims process.Property Damage Questions for Your AgentThese are some questions to ask your insurance agent. These may confirm what you already know or may help you understand the extent and specifics of your coverage.Insurance Riders Do I Need One?You pay your homeowners premiums on time and feel reasonably comfortable that you are well covered should disaster ever strike, right? Wrong. Even if you think you have adequate coverage, you could be drastically underinsured.Life Insurance and Healthcare CostsIf you or someone you care about has been diagnosed with a serious illness, you may have already discovered that dealing with actual health issues is just part of the individual puzzle you must reassess and reassemble. Am I Covered? Home Insurance QuestionsThe more you know and understand about home insurance, the better you can insure yourself and your family in case of loss. Am I Covered? Life Insurance QuestionsHere is a 'starter' list of things to consider and questions to ask your agent. You'll probably come up with questions or ideas that best fit your needs. Choosing a Life Insurance BeneficiaryIf you own assets, from bank accounts to life insurance, it's important that you choose a beneficiary. Filing an Insurance ClaimA few tips on how to file a claim after a natural disaster, fire or theft. Motorcycle InsuranceThe more you know and understand about motorcycle insurance, accident coverage, and your own policy, the better off you are. Pet InsurancePet insurance is similar to health insurance: you may be reimbursed if the unexpected occurs. Property Damage What to Expect from Your AgentHere is a list of actions an insurance agent may follow after a claim. If you receive money from your agent or arrangements are being made for you, be sure to ask your agent what is covered under your policy and how much you are covered for. Reviewing and Updating Your Homeowner's InsuranceWhen was the last time you reviewed your home insurance policy? According to Loretta Worters, vice president of the Insurance Information Institute, there are six events that should trigger a review.Flood InsuranceOne of the most important things that you can do to protect your home and family before a flood is to purchase a flood insurance policy - even if you don't live in a flood-prone area. Earthquake Insurance ResourcesUseful links to information about disaster-related insurance resources.

Reviewing and Updating Your Homeowner's Insurance

When was the last time you reviewed your home insurance policy? According to Loretta Worters, vice president of the Insurance Information Institute, there are six events that should trigger a review.

1. When your policy comes up for renewal

Don't just automatically send a check to your insurance company. Review your coverage, then call your agent with any questions about your homeowners insurance, including the following:

Has the company made any changes in coverage since last year?

Does my policy now include a separate deductible for risks like hurricane or hail?

Should I raise the deductible to save money or comparison shop for cheaper rates?

Am I taking advantage of all available discounts?

Do I need to raise the amount of coverage for liability, personal possessions or the structure or add a flood, earthquake or an umbrella policy?

2. When you've made major purchases or alterations/improvements to your home

Have you received any expensive or valuable gifts or made any major purchases?

If so, you may need to either increase the amount of insurance you have for your personal possessions or purchase a floater/endorsement for these items, which provides higher and broader coverage for these items than you have under your homeowner's policy.

3. When you've increased the square footage of your home

Have you added a new room, enclosed a porch, expanded a kitchen or bathroom, or added a new structure outside of your home such as a gazebo, shed or pool or hot tub?

If so, report the updates to avoid being underinsured. Keep receipts and records in case you need to forward copies to your company.

4. When you've made your home safer

If you have installed a state-of-the art fire/burglar alarm system or upgraded your heating, plumbing or electrical system, notify your insurance company in case that qualifies you for a discount.

5. When the number of residents in the home changes

Marriage, divorce, children leaving home or elderly relatives moving in can also change the amount of valuables and possessions that need insured.

6. When you've started a home-based business

Talk to your agent about additional coverage for business liability and equipment. If the business is your primary source of income, you may need a Business Owners Package Policy (BOP).

You may also need professional liability coverage, which is excluded under in-home business and business owner's policies. For more information, see III's article on insuring home businesses.

InsuranceAfter an Accident Insurance ClaimsMake the insurance claims process easier by following these steps.Am I Covered? Car Insurance QuestionsAsk your insurance agent these questions. It helps to understand the types and extent of coverage you have. There are a lot, but you're paying a lot.Appealing an Insurance SettlementIf you have a difference of opinion on your insurance settlement, you can begin an appeal process, starting with your agent, moving to the claims adjuster at your insurance company, or your state's watchdog agency for insurance consumers. What's Your Insurance Score?Like a credit score used by banks, insurance scores rate your risk (how financially stable you are). Research has shown that people who are in better shape credit-wise tend to file less insurance claims. Working With a Claims AdjusterOnce you have notified your insurance company of your loss, you will meet with a claims or field adjuster employed by the company. If You Have No InsuranceIf you have no insurance (or less insurance coverage than you thought), your recovery will be based on your own resources and help from friends, relatives and your community. Estimating Your Home's ValueDo you have enough insurance on your home to rebuild it if it is destroyed? Do you even know how to calculate the amount of insurance you need? Key Insurance Terms Determining ValueKnowing these terms helps to understand the process insurance agencies and relief organizations use to determine the value of your loss. Your tax accountant can also help you when claiming your losses. Top Homeowners Insurance MythsHomeowner's insurance can be a bit complicated. William S. Coffman, Jr., WHN's Guest Columnist, provides some common myths about insurance and insights into the realities of insurance and the claims process.Property Damage Questions for Your AgentThese are some questions to ask your insurance agent. These may confirm what you already know or may help you understand the extent and specifics of your coverage.Insurance Riders Do I Need One?You pay your homeowners premiums on time and feel reasonably comfortable that you are well covered should disaster ever strike, right? Wrong. Even if you think you have adequate coverage, you could be drastically underinsured.Life Insurance and Healthcare CostsIf you or someone you care about has been diagnosed with a serious illness, you may have already discovered that dealing with actual health issues is just part of the individual puzzle you must reassess and reassemble. Am I Covered? Home Insurance QuestionsThe more you know and understand about home insurance, the better you can insure yourself and your family in case of loss. Am I Covered? Life Insurance QuestionsHere is a 'starter' list of things to consider and questions to ask your agent. You'll probably come up with questions or ideas that best fit your needs. Choosing a Life Insurance BeneficiaryIf you own assets, from bank accounts to life insurance, it's important that you choose a beneficiary. Filing an Insurance ClaimA few tips on how to file a claim after a natural disaster, fire or theft. Motorcycle InsuranceThe more you know and understand about motorcycle insurance, accident coverage, and your own policy, the better off you are. Pet InsurancePet insurance is similar to health insurance: you may be reimbursed if the unexpected occurs. Property Damage What to Expect from Your AgentHere is a list of actions an insurance agent may follow after a claim. If you receive money from your agent or arrangements are being made for you, be sure to ask your agent what is covered under your policy and how much you are covered for. Reviewing and Updating Your Homeowner's InsuranceWhen was the last time you reviewed your home insurance policy? According to Loretta Worters, vice president of the Insurance Information Institute, there are six events that should trigger a review.Flood InsuranceOne of the most important things that you can do to protect your home and family before a flood is to purchase a flood insurance policy - even if you don't live in a flood-prone area. Earthquake Insurance ResourcesUseful links to information about disaster-related insurance resources.