Category: Home Inventory

Knowing Your Homeowners Policy

5/4/2016

What is Covered by Standard Homeowners Insurance

For many of us, Spring is the season of cleaning, home improvement, and "honey to-dos". Whether settling into the new or sprucing up the old, we put a lot of time and effort into caring for our homes and our belongings.

So, how is our home protected?

Standard homeowners insurance policies are structured to cover:

The STRUCTURE of your home.
The PERSONAL BELONGINGS in your home.
The LIABILITIES that come with home ownership.

For a great explanation of each, watch this short video published by the Insurance Information Institute.

ALINK Insurance Services wants to make sure your home and belongings are protected from unexpected loss. Give us a call today to discuss your homeowners insurance questions and needs.

Denver Metro/Parker: 303-752-6479
Colorado Springs: 719-473-6262
Greeley: 970-475-0900
Surrounding States: 877-643-6148

We're your link to security!

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Storing Your Stuff

4/24/2015

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Choosing a safe self-storage facility for your stuff and making sure it’s COVERED.

According to the Self Storage Association, one of every ten households in the United States currently rents some kind of storage unit. We all have STUFF to store and often times, not enough space to do it!

Self-storage units can be very useful – to declutter your home during your Spring cleaning ventures, to provide space in between moves, to store your college student’s extra stuff while they’re home for the summer, to stow some of that winter gear you won’t need until next year, to hold onto those things you just can’t let go of but don’t need at home, etc. etc. Out of sight, out of mind!

No matter where your belongings are, having the right insurance coverage is the best way to financially protect your things. ALINK Insurance Services can help!

If you plan to rent a storage unit, the Insurance Information Institute suggests taking these steps:

Ask your insurance professional about off-premises coverage. If your renters or homeowners insurance does not provide off-premises coverage, you may want to opt for a storage company that offers insurance. Keep in mind that any facility should also have its own insurance to cover damages to the property or injuries that occur on the premises.

Look for a secure facility. Fencing that secures the entire property and access control are the minimum security measures a storage business should offer. But, ideally, the storage building should have onsite security features such as 24-hour video surveillance cameras and coded security pads. Also, find out about the facility’s procedures in cases such as a fire or flood.

Find out what type of financial protection is provided by the storage facility. Most facilities provide reimbursement based on the square footage of the unit. Check both the coverage limits and whether it is provided on an actual cash value or replacement cost basis.
Look for a unit with climate control. Very high or low temperatures, as well as dampness can quickly cause damage to appliances and furniture. And make sure that rising ground water from snow or rain is unable to penetrate the storage.
Consider special insurance or storage for expensive items. If you intend to store valuable property, such as art, antiques, jewelry or furs, there may be dollar restrictions under your standard homeowners or renters insurance policy for theft. Talk to your insurance professional about adding an endorsement to your policy in order to fully cover these items.
Check that the facility is clean and well-maintained. If a storage facility is not routinely and thoroughly cleaned, there is a good possibility no one is monitoring for bugs and rodent infestations. Verify that the facility has a permanent, reliable pest extermination contract in place before you trust them with your belongings.

Create an inventory of items to be kept off-premises in storage. Add the items you’re moving to the storage unit to your home inventory so that you can keep track of your belongings and make sure you have the right amount of insurance to protect them.

If you have any questions about your homeowners or renters insurance coverage, give us a call here at ALINK Insurance Services today. We’ll make sure you have the coverage you need to be protected!

Denver Metro/Parker: 303-752-6479
Colorado Springs: 719-473-6262
Greeley: 970-475-0900
Surrounding States: 877-643-6148

We’re your link to security!

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Be Mine, Valentine?

2/6/2015

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Jewelry Protection – Make Sure Your Token of Love is Covered

Ah, February. Valentine’s Day is near, and love is in the air. Well, love and a few other things, such as chocolates, romantic dinners, candy hearts that say “Be Mine” - and, of course, jewelry.

According to the National Retail Federation, a projected 4.8 billion dollars will be spent on jewelry this month. That’s a lot of bling! It’s exciting {not to mention romantic} to receive jewelry from a loved one — or to give it as a gift. But if you’re lucky enough to have some new jewelry in your home this Valentine’s Day, you should take a few minutes to think about something you probably don’t find quite as exciting or romantic: insurance.

Aren’t sure where to turn? Don’t worry. At ALINK Insurance Services, we think it is exciting to help our customers protect what’s most important to them — so we’re ready to help and can answer all of your questions.

Here are a few things to consider when insuring jewelry:

You may need to purchase additional coverage. Your homeowners policy covers valuable items such as jewelry only up to set amounts. If the cost of replacing your jewelry exceeds that limit, you will want to purchase scheduled personal property coverage. You can check your policy or give us a call.

You might want to reconsider your deductible amounts. As always, this impacts your policy premium. It’s a good idea to take a look at your deductibles whenever you make a change to your policy.

Do you need an appraisal? You may need to have an independent appraisal if the insurance company requires it or if you don’t know the value of your jewelry. Each item should be listed with a description and value on paper.

What kind of coverage is offered? You’ll want to determine if items are covered no matter where they are, whether they’re in Colorado Springs, or on an international trip, and if the policy offers full replacement cost. You also should ask if you will be required to replace your jewelry if lost or stolen, or if you can simply keep the cash settlement.

Pictures can be helpful. Lost or stolen pieces of jewelry sometimes can be recreated if the jeweler has a good photograph to work from.

Of course, it’s important to store your jewelry securely when it’s not in use; a safe in your home or a safe-deposit box is best. We want your jewelry to be replaced if it’s lost or stolen, but we’d rather your sentimental and valuable pieces stay with you and your family for years to come.

Here’s hoping your Valentine’s Day is full of fun and romance. And if there’s no jewelry involved, well, there’s always next year!

Contact Us!

For further questions and assistance, please contact ALINK Insurance Services at any of our offices!

Denver Metro/Parker: 303-752-6479
Colorado Springs: 719-473-6262
Greeley: 970-475-0900
Surrounding States: 877-643-614

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Completing a Home Inventory

1/30/2015

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Why a Home Inventory Is Important

Let’s try a little exercise: Can you list everything you own from memory?

Didn’t think so.

The fact is most people own more things than they realize. It’s easy to remember the cars, the computer, the TV. But what about that holiday china in the garage? Or every pair of shoes? Or every book on the shelf?

All of it is regarded as personal property for insurance purposes. And if your home is destroyed by fire or some other disaster, having a list of your possessions makes filing a claim easier — and helps you put your life back together. And what better time is there than a fresh new year to make sure your home inventory is up to date?

Why should I complete a home inventory? What’s the best way?

Comparing the value of your belongings to the “contents” limit listed in your policy helps you make sure you have enough insurance to replace them if they are lost, stolen or destroyed as a result of a covered loss. The easiest way to take an inventory is to use a video camera, recording and describing items as you walk through your house. Or, you can use a regular camera and create a home inventory checklist.

Here are a few tips for completing and storing your inventory:

Add brand names and descriptions where you can, especially on large-ticket items. Serial numbers are helpful to note.
Keep any receipts you have with the list to make the claims process easier.
Store your video or photo inventory offsite so you won’t lose it if your house is damaged.
Update your personal property records when you purchase new furnishings and valuables.

Though the task may seem daunting, it’s important to try. An incomplete inventory is better than nothing at all.

How much insurance do I need?

At ALINK Insurance Services, we can assist you in analyzing your insurance needs and help you decide how to most effectively protect your personal property. You should consider full-value coverage, which will pay for the replacement value of your personal belongings. A standard policy typically covers personal property only up to its actual cash value, determined by taking the replacement cost and deducting depreciation, which can be substantial. (For example, a 5-year-old TV is usually worth much less than what it would cost to purchase a new one.)

Finally, remember your homeowners policy covers valuable items such as jewelry, furs, art and antiques, only up to set dollar amounts. If the cost of replacing them exceeds these limits, you may want to purchase scheduled personal property coverage.

The Insurance Information Institute has a FREE online tool that can help you create your inventory. Just visit www.knowyourstuff.org for more details.

We hope you’ll never need the home inventory, but preparing for the worst can prevent a lot of hassle later! Give us a call today!

Denver Metro/Parker: 303-752-6479
Colorado Springs: 719-473-6262
Greeley: 970-475-0900
Surrounding States: 877-643-6148

We're your link to security!

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Flood Insurance - Spring Thaw Preparation

3/14/2014

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Homes in residential neighborhood in Longmont, Colo., are submerged as flooding continues to devastate the Front Range and thousands are forced to evacuate with an unconfirmed number of structures destroyed, Friday, Sept. 13, 2013. (AP Photo/John Wark)

Colorado experienced devastating floods in September of 2013. Spring is just around the corner, bringing additional flooding potential. Frozen land prevents melting snow or rainfall from seeping into the ground. Each cubic foot of compacted snow contains gallons of water, which, once the snow melts, can result in the overflow of streams, rivers and lakes. Spring storms can also add to the possibility of serious flooding. Being prepared is your best defense!

Purchase flood insurance for your home (and business) and its contents. Normal homeowners and business policies exclude damages resulting from flooding. Contact us at ALINK Insurance Services to determine your flood risk.
Safeguard your possessions. The best way to do this is by creating and maintaining a home/business inventory, and keeping it in a secure place. A current inventory of your personal possessions can ensure you have adequate coverage and speed up the claims process if you have a loss. If you don’t have a home inventory, there is no better time to start than now. The I.I.I. offers free web-based Know Your Stuff® Home Inventory software and apps, so creating one is easy. ALINK Insurance Services is also able to archive your digital records in your customer file. Call your agent today for details on how to do this.
Prepare your house. Make sure your sump pump is working properly, and install a battery-operated backup in case of power failure. Water alarms are also available to alert you of water accumulating in your basement. Clear debris from gutters and downspouts. Move furniture, valuables and important documents to a safe place.
Develop a family emergency plan. Have an easy-to-carry and accessible 72-hour kit containing drinking water, canned food, first aid, blankets, a radio, flashlights, and other needs suited to your family (items for babies or small children). Plan a flood evacuation route with your family - know safe routes from home, work, and school that are on higher ground. Ask an out-of-state relative or friend to be your emergency family contact. Have a plan to protect your pets and other animals.

If you happen to be caught in a flood, here are a few safety tips to keep in mind:

Go to higher ground and avoid areas subject to flooding.
Do not attempt to walk across flowing streams or drive through flooded roadways.
If water rises in your home before you can evacuate, go to the top floor, attic, or roof.
Listen to a battery-powered radio for the latest storm information.
Turn off all utilities at the main power switch and close the main gas valve if advised to do so.
If you've come in contact with floodwaters, wash your hands with soap and disinfected water to avoid sickness.

(Source)

If you have any questions regarding flood or any other type of insurance, contact us at ALINK Insurance Services - we can help!

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All That Sparkles - Insuring Your Jewelry Investment

2/13/2014

1 Comment

The day of love is upon us.

If you are on the receiving end of the National Retail Federation's projected 19 percent who will gift jewelry for Valentine's Day (3.9 billion dollars worth), it's a good idea to review how to protect your true love's financial investment.

According to the Insurance Information Institute, jewelry is one of the most claimed losses in home content related insurance claims. The Bureau of Justice Statistics reports that the largest percentage of completed burglaries involve the theft of personal items, with jewelry (including watches) being among the top items stolen. Although the sentimental value of a special piece of jewelry can never be recovered, there is security in knowing the monetary value is protected.

The Insurance Information Institute has provided four simple steps to ensure adequate protection for sparkling valuables:

1. Contact your insurance professional immediately.
Find out how much coverage you already have and whether you will need additional insurance. Most standard homeowners and renters insurance policies include coverage for personal items such as jewelry, however, many policies limit the dollar amount for the theft of high-value personal items, usually from $1000 to $2000. These policies would cover a loss if the item were destroyed by disasters listed in the policy (fire or hurricane, for example), but if your expensive new gift is lost or stolen, you would need separate insurance to be covered.

2. Obtain a copy of the store receipt.
Forward a copy of the receipt to your agent so that your insurance company know the current retail value of the item. Keep a copy for your records and include it in your home inventory. If the item was purchased on sale, it's a good idea to get a copy of its appraised value.

3. If you receive an heirloom or antique piece of jewelry, have the item appraised.

4. Add the item to your home inventory.
A current inventory of your personal possessions can ensure you have adequate coverage and speed up the claims process if you have a loss. If you don't have a home inventory, there is no better time to start than now. The I.I.I. offers free web-based Know Your Stuff® Home Inventory software and apps, so creating one is easy.

A note to renters:
A 2013 I.I.I. poll found that 96% of homeowners had insurance coverage but only 35% of renters had renters insurance. This insurance provides important financial protection in the event your belongings are lost or stolen.

For any of your insurance questions or needs, contact us at ALINK Insurance Services.

Denver Metro/Parker: 303-752-6479
Colorado Springs: 719-473-6262
Greeley: 970-475-0900
Surrounding States: 877-643-6148

We can help!

1 Comment

Knowing Your Homeowners Policy

Storing Your Stuff

Be Mine, Valentine?

Completing a Home Inventory

Flood Insurance - Spring Thaw Preparation

All That Sparkles - Insuring Your Jewelry Investment

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Knowing Your Homeowners Policy

Storing Your Stuff

Be Mine, Valentine?﻿

Completing a Home Inventory

Flood Insurance - Spring Thaw Preparation

All That Sparkles - Insuring Your Jewelry Investment

Archives

Categories

Be Mine, Valentine?