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My Business Income Consultation from Chubb

 

Trade off broader coverage for higher deductibles.

  • You can often increase your liability limits and your guest medical payment limits on your car insurance policy to better protect yourself against potential lawsuits. The increased premium from this can often be offset by increasing your vehicle deductibles from $500 up to $1,000

Keep trees/limbs trimmed back away from the dwelling when possible.

  • Trees provide us with wonderful scenery, privacy, and shade, but they are also the source of severe damage to your home during heavy storms. Keeping the larger limbs from directly overhanging the home can help prevent damage.

Remove dead trees from your property. It is your responsibility to maintain your property.

  • If you have a tree that is known to be dead, it can become a liability hazard to others if and when it falls. It could also cause damage to your neighbor’s home, or worse yet, it could even cause bodily injury to others.

Keep up with routine maintenance.

  • This sounds so simple, but you would be amazed at how much routine maintenance can help prevent losses to the home.

Turn off the water when you are out of town.

  • Some of the largest claims we see in this industry are from busted pipes and water leaks that occur, while you are out of town and not there to put a quick stop to it.

Make certain you are adequately insuring your home for a full replacement limit.

  • Often times, people mistakingly insure their home for the “market value” of what the home will sell for. After a total loss to your home, the true cost of demolition, debris removal, and then a custom reconstruction project, can be much higher than the “market value”
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