Who should get flood insurance in Kentucky?

Anyone that lives in the Fisherville, KY area needs to carefully consider their home insurance needs. One form of insurance that should be considered is flood insurance, which will provide specific coverage if your home is damaged by a local flood. There are several situations when someone should get flood insurance on their property in this area of Kentucky

Anyone with Lender Requirement

The first situation when someone in Kentucky should get a flood insurance policy is if they are required to have it by their lender. Mortgage lenders are aware of how serious flood damage can be. Due to this risk, lenders often require borrowers to carry flood insurance if they are in a flood zone. Depending on what flood zone you are in, the lender could require you to escrow payments monthly to ensure coverage. 

Needs to Cover Against Risk

Even if there is a small risk for flood damage in your area, you should still consider getting flood insurance. If you do not have a mortgage or are not required to carry it, you should still carefully assess your risks and current insurance coverage. If you are near a waterway that could flood, you should consider getting an additional flood insurance policy to ensure you are fully covered at all times.

When you are looking to learn more about flood insurance in the Fisherville, KY area, you should speak with the team at TruePoint Insurance. Choosing a flood insurance policy can seem quite complicated and challenging. When you call TruePoint Insurance, the team of insurance professionals will be able to provide you with a full assessment to help you determine what type of insurance is right for you. They can then help you get into a policy that provides adequate coverage. 

Life Insurance for Seniors: What are Your Options?

As you approach your golden years, you may find that your plan to provide for your dependents isn’t as solid as you’d like. In these cases, a customized life insurance strategy from TruePoint Insurance can help you create a better future for those you may leave behind. While age is an important factor, older residents in the Fisherville, KY area still have life insurance options that can build a stronger foundation for their dependents.

Be Realistic

Your age isn’t the only factor agents look at when considering life insurance coverage. Your agent will also look at your:

  • History of tobacco use
  • Gender
  • Health history
  • High-risk lifestyle activities
  • Driving record

Senior citizens with the right combination of factors can still find affordable and adequate life insurance coverage. Your insurance agent can help you understand how these factors affect your current options.

Try a Term Policy

Term life policies are contracts that provide coverage for a short period of time. The coverage period can be anywhere from a few months to several years. These contracts come with very specific coverage requirements. Your insurance agent can help you create a contract that covers your most likely scenarios to ensure your dependents receive full payment.

Bulk Up Existing Policies

Your existing life insurance coverage may not be enough to cover current circumstances. In that case, your insurance company may be willing to work with you to expand coverage.

Think About Survivorship Insurance

Survivorship life insurance is a highly flexible option for married couples with dependents. The shared risk generally decreases premiums and maximizes potential benefits. These contracts are designed to pay out when the last covered subscriber passes away.

Find the Best Strategy for Your Family’s Financial Future

TruePoint Insurance agents can help you find the life insurance coverage you need for your family’s future. We offer customized policies for residents in the Fisherville, KY area. Call us to talk about your life insurance options.

All- Around Safer Driving

Driving can be safer.  Traffic Roundabouts are safer all-around.  Fewer accidents means fewer auto insurance claims and that means saving on car insurance.
Traffic Roundabouts are Safer All-Around

When’s the last time you consider the impact of a street or highway intersection? For us, it was on our first trip to Savannah, Georgia.

Intersections should be designed with driver and passenger safety in mind. However, In the US, roughly 2.5 million auto accidents occur in intersections each year. That’s 10% of the 250 million vehicles in the US.

Solving the intersection dilemma in a roundabout way

The Dilemma: Intersection or Roundabout.  Ask your TruePoint agent how you can save on car insurance.
The Dilemma: Intersection or Roundabout

For decades Americans have had a fancy for cars imported from Europe. US consumers have found numerous reasons to support their purchase of imported autos. Arguments included performance, economy, style, and a plethora of other advantages. But the most frequent and compelling has been safety.

In recent decades America has been importing another vehicle for auto safety. This time, it’s not automobiles, and it is considerably less popular with American drivers. Roundabouts, an alternative to intersections, have long been popular in Europe. Also known as traffic circles, rotaries, or road circles, they replace intersections.

Turning Left is Dangerous to Your Health
Turning Left is Dangerous to Your Health

Roundabouts have been slow to catch on in America. Why? I’ve seen some reasons, none of which make sense. What does makes sense are traffic circles:

  • Speed                           Slower speeds reduce damage and fatalities
  • Eliminates Left Turn   Why does UPS give drivers routes designed to avoid turning left? Because it reduces accidents and delays.
  • Energy Efficient          Braking to a full stop waste fuel. Starting from a dead stop is even more inefficient.
  • Trigonometry              Eliminates many of the more dangerous angles in which a car can be struck.
  • Safety                          Most important, roundabouts lead to improved safety.

The Institute for Highway Safety reports that roundabouts reduce crashes involving injury by 75%. Even more amazing the study reports collisions with fatalities are reduced by 90%.

Coming full circle on street and highway intersections

Saving Lives and Lower the Cost of  Insurance.  Do you want to reduce the cost of auto insurance?  Think Round!
Saving Lives and Lower the Cost of Insurance

Why isn’t your insurance agent talking about roundabouts?

There may be a good reason, but I can’t think of a single one at the moment.

Insurance agents sell products that indemnify the insured in the event of a loss. Good insurance agents work with prospects and customers to help identify risk. They then provide input and access to effective solutions.

By raising awareness of the safety benefits of traffic roundabouts, we at TruePoint Insurance believe that we are doing our part to reduce risk. We’re arming our clients and prospects with the data that supports traffic circle safety.

Compared to the intersections commonly used in America, Roundabouts significantly reduce risk. The 37% reduction in overall collisions may pale in comparison to the 75% reduction in injury collisions. And while both fall short of a 90% reduction in fatality collisions, this is still jaw-dropping data.

The agents of TruePoint Insurance encourage each of you to take a stand. Raising awareness is the path to safer streets and roads. Saving lives by performing an action that will save money on insurance.

Roundabouts significantly reduce risk when compared to the intersections used today. The 37% reduction in overall collisions may pale in comparison to the 75% reduction in injury collisions. And while both fall short of a 90% reduction in fatality collisions, this is still jaw-dropping data.

The agents of TruePoint Insurance encourage each of you to take a stand. Raising awareness is the path to safer streets and roads. Saving lives by performing an action that will save money on insurance.     

TruePoint Insurance, Insuring Georgia
Trust TruePoint with all your insurance needs

Home Businesses (Landlords)

A variety of businesses are routinely operated in homes. This article discusses aspects of particular operations. Refer to Home Businesses – Basics for background information on coverage as well as our other articles discussing different in-home businesses.

A century ago, landlords ruled.  The collected rent from tenants while provided conditions that would not be considered proper habitation today.
Today’s Landlords are held responsible for their actions

Landlord

The homeowners policy is designed to cover landlord-occupied residential buildings, landlord-owned personal property, and loss of rents (after a fire or other covered cause of loss), premises liability and medical payments. Note that the maximum occupancy that may be covered under an HO policy is a four-family dwelling. A dwelling policy may be used for 1-4 family structures that are not also occupied by the landlord.

For landlords with residential property containing from five to sixty units, a Businessowners policy (BOP) is usually appropriate. It insures buildings, landlord personal property, loss of rents (after a fire or other covered cause of loss), premises liability and medical payments.

Most Bed and Breakfasts do not qualify for coverage either in the homeowners or dwelling insurance program. Bed and Breakfasts will require a combination of tenants coverage for the resident owner/manager, and a BOP to cover buildings, landlord owned personal property in boarders’ rooms, loss of business income (rents and fees) and the extra expense to operate (after a fire or other covered cause of loss), premises liability and medical payments.

Modern landlords are subject to many legal requirements.  A large part of today's law revolves around renters and  landlord insurance.
Contracts often drive rental insurance policies

For landlords who have office or retail tenants, the BOP provides broad coverages for buildings, landlord personal property, loss of rents (after a fire or other covered cause of loss), premises liability and medical payments.

Worker compensation is necessary for any employee. Talk with your agent. Most states require workers compensation for resident managers even if you provide only free lodging as payment. Make sure you have certificates of insurance for any subcontractors (painters, plumbers, etc.) you hire to do work for you. If the subcontractor has no insurance, you may be responsible for the subcontractor’s work-related injuries.


COPYRIGHT: Insurance Publishing Plus, Inc. 2016

All rights reserved. Production or distribution, whether in whole or in part, in any form of media or language; and no matter what country, state or territory, is expressly forbidden without written consent of Insurance Publishing Plus, Inc.

3 Tips to Stay Safe on the Water

Boating season can bring out the best in Kentucky residents, especially those residing around Fisherville, KY. At TruePoint Insurance, we understand the water life and enjoy it with our clients. While we all enjoy days and afternoons out on the water, we also want you to remember three tips to stay safe while out on the water. 

Keep Your Life Jacket On

It is not uncommon to travel the Kentucky waters and catch boaters riding without their life jackets. In the event of an accident, the riders could potentially be thrown from the boat. With a life jacket, they will surface to the water and be able to breathe while getting to safety. 

Keep the Crowding Minimal

Each boat comes with a weight limit and a capacity amount based upon its size. A common issue that happens with boaters in Kentucky is overloading the boat with either people, supplies, or both, causing it to flip from the stress it is under. If you are planning to use your boat for fishing and hauling equipment, make sure sure that you do not carry too many people out with you. 

Leave the Alcohol Onshore

While you are operating your boat, you should not be drinking. The pressure and influence to drink while operating the boat are limited if it never comes onto the boat with your passengers. Leave the alcohol onshore and stock your boat instead with fresh bottled water and sports drinks to keep everyone hydrated while enjoying the water. 

Top it Off with Boat Insurance

One of the best ways to secure your boat, however, is to have boat insurance should you find yourself in an accident while out on the water. If you live in the vicinity of Fisherville, KY, call our agents at TruePoint Insurance for more information on our policy offerings. 

 

Business Insurance Costs

Managing your cost of insurance

Businesses price their products to cover the costs of production as well as their labor, sales marketing, and other major expenses. Prices also reflect some post-sales costs such as handling repairs or replacements under warranty. At one time many industries used a pricing strategy for their products that failed to reflect their true costs. A once-popular assumption was that lower prices would promote increased sales and the higher sales volume would make up the cost difference. The strategy wasn’t successful. It hasn’t worked for the auto industry, the computer industry or the insurance industry.

The problems of the insurance industry became apparent within the turn of the century and were drastically exasperated by several natural and financial catastrophes. Events such as terrorist attacks, hurricanes, housing market and banking meltdowns all substantially affected the insurance industry. The insurance industry’s attempts to gradually correct their pricing had to be sped up; substantially!

21st Century insurance markets have been riddled with catastrophic events.  Weather, terrorism and fraudulent practices have all impacted insurance premiums.
Why are insurance premiums so high?

For much of the 21st Century, insurance companies have had to handle many more claims being presented many years after their policies have expired. In the case of pollution, asbestos and employment practices; the industry is being asked to handle losses that policies weren’t designed to even cover.

Well, what can a business owner do to minimize their high insurance cost? Before considering sacrificing the amount of protection a business carries just to save money, consider alternatives. Some other solutions would be:

1. Review your coverage:

a. Take a close look at your insurance. Could you increase the deductibles to lower your premium?

b. Are you carrying physical damage coverage on commercial vehicles that aren’t worth it?

c. Are you insuring items you could replace out of pocket? Are there pieces of equipment that are insured when they could be replaced from operating funds without submitting a claim?

2. Review your exposures:

a. Could you reduce the premium by installing an alarm system or fire protection system? Would these premium savings offset the cost of the system?

b. Could you implement safety programs that would reduce the cost or make the insurance company more interested in providing coverage? For example: driver safety programs, back to work programs, safety training in proper use of equipment and job functions.

3. Identify your insurance goals:

a. Do you need an insurance company that can provide loss control services?

b. Do you need an insurance company that can provide claim-handling services for your Workers Compensation insurance?

c. Do you need an insurance company that will allow you to make payments by phone or on-line 24/7?

d. Do you need an insurance company that has a local agent/representative that can assist you in your insurance solutions?

Shopping and price are not the only issues in insurance. What you don’t know can cost you more in the long run than you could ever save in premiums. Discuss your situation with an insurance professional and make the choice that works for you.


COPYRIGHT: Insurance Publishing Plus, Inc. 2016

All rights reserved. Production or distribution, whether in whole or in part, in any form of media or language; and no matter what country, state or territory, is expressly forbidden without written consent of Insurance Publishing Plus, Inc.

The Businessowners Policy


Do you shop with uninsured Merchants?

If you own and/or run a smaller business, your insurance needs may be properly handled by a business owners policy (BOP). A BOP is a single form that offers both property and liability protection. Retailers, wholesalers, small contractors, artisan contractors, dry cleaners, restaurants, offices and convenience stores (including those with gas pumps) are eligible for BOP coverage. All such operations may be insured by a BOP as long as they do not exceed the square foot or annual sales limits established for the program. Cooking operations, due to the higher fire and other accident exposures, have significantly more restrictive guidelines.

Property Coverage – BOPs protect buildings as well as the following:

The policy’s protection for business personal property (such as office equipment, copiers, desks, etc.) applies whether the property is located inside or immediately outside the covered buildings. The category also includes property you own, lease or control (i.e., borrow or control) as long as the property is used by the business.

One item of importance, the BOP does NOT provide coverage for loss of use of damaged or destroyed property, nor for loss created by an actual or perceived loss in value of goods after a loss takes place.

Liability Coverage – A BOP’s liability coverage provides comprehensive protection for claims or suits made by other parties. Specifically, it covers losses involving injury to other persons or damage to property that belongs to others. It also provides limited protection against personal injury (slander or libel), advertising injury and losses involving an operation’s products or services.

Naturally, there are certain situations that are not covered by a BOP. For instance, there is no coverage for losses involving most vehicles, money, and securities; illegal property (contraband), land, water, growing crops or lawns; or watercraft.

building additions (completed or being built) indoor and outdoor fixtures Clothes Dryers machinery and equipment landlord furnishings,
mowers, ladder, snowblowers, and similar maintenance property outdoor furniture floor coverings Refrigerating appliances ventilating appliances
Cooking appliances Dishwashing/Drying appliances Clothes washers materials, equipment, and supplies temporary structures located near the insured premises

Enhancing Coverage – A BOP may be supplemented to provide additional protection. Property coverage options include adding insurance for accounts receivable, valuable papers and records, earthquake, spoilage, etc. Liability coverage can be expanded to handle additional business interests, limited vehicle liability, losses related to personnel situations, liquor liability and injuries to leased employees.

A BOP may be the answer to your company’s coverage needs and it may be worthwhile to get more information on the BOP from the nearest insurance professional.

The BOP provides other coverage than the protection mentioned in part 1. The following protection can be selected under the BOP.

Optional Coverages

Outdoor Signs–Payment is available for direct physical loss or damage to outdoor signs at the described premises. Eligible signs may be owned by the named insured or owned by others but be in the named insured’s care, custody, or control.

Money and Securities–Coverage applies to loss of only the named insured’s money and securities used in its business while that property is at banks or savings institutions, inside the named insured’s living quarters, inside the living quarters of a partner or employee, at the described premises or while in transit between the places referenced.

Employee Dishonesty–The policy pays for direct loss of business personal property and money and securities due to dishonest acts its employees commit, whether they act alone or collude with others to do so.

Equipment Breakdown Protection Coverage–Coverage is available for loss or damage directly caused by or that results from electrical failure or mechanical breakdown to covered property. Covered property is electrical, mechanical, or pressure machinery and equipment

Liability Coverage – A BOP’s liability coverage provides comprehensive protection for claims or suits made by other parties. Specifically, it covers losses involving injury to other persons or damage to property that belongs to others. It also provides limited protection against personal injury (slander or libel), advertising injury and losses involving an operation’s products or services.

Naturally, there are certain situations that are not covered by a BOP. For instance, there is no coverage for losses involving most vehicles, money, and securities; illegal property (contraband), land, water, growing crops or lawns; or watercraft.

Enhancing Coverage – A BOP may be supplemented to provide additional protection. Property coverage options include adding insurance for accounts receivable, valuable papers and records, earthquake, spoilage, etc. Liability coverage can be expanded to handle additional business interests, limited vehicle liability, losses related to personnel situations, liquor liability and injuries to leased employees.

A BOP may be the answer to your company’s coverage needs and it may be worthwhile to get more information on the BOP from the nearest insurance professional.


COPYRIGHT: Insurance Publishing Plus, Inc. 2017

All rights reserved. Production or distribution, whether in whole or in part, in any form of media or language; and no matter what country, state or territory, is expressly forbidden without the written consent of Insurance Publishing Plus, Inc.

Handyman Insurance, Covering the Jack of all Trades

How much does Handyman insurance cost?  It may cost more than you think.
How much does handyman insurance cost?

Handyman Services
Insurance costs for Contractors can vary widely. Insurance companies view roofers as a high risk. In fact, most standard carriers will not even write coverage for roofers. Why? Because they are one of the ten riskiest jobs. On the other end of the scale are jobs like grading of land.


The Jack of all Trades
Tinker, Handyman, or Jack of all Trades, regardless of the name you use, the risk is the same. A handyman is an individual that can perform a wide range of jobs. At first blush, it would seem that insurance for a handyman would be considered low risk. That is bad thinking.
Insuring a Handyman poses one major problem for insurance companies. What does a handyman do? Work performed is a primary factor in calculating premiums. We know what Roofers do. They install and repair roofs on homes and commercial buildings. A risky endeavor that warrants a higher insurance premium. Occupations that are less risky warrant lower insurance premiums. Such is the case for lawn care providers.
Handyman insurance premiums are significantly lower than roofers. They should be, the work they perform is not that risky. Or is it?

What do handymen do?  They are knows a Jack of all Trades, so the list can be very long.
Handyman jobs


What does a handyman do?
Minor repair, light domestic work, or mechanical jobs are likely responses. Handyman insurance might cost more than one would think because no one knows what they are going to do. In the insurance industry, uncertainly almost always corresponds to higher premiums.


A Handyman might perform low and straightforward risk functions such as:

  • Changing a light bulb
  • Window cleaning, or
  • Cleaning

But it’s more likely that they are performing higher risk jobs:

  • Carpentry
  • Gutter Cleaning or Repair
  • Window installation

But what happens when the handyperson starts playing jobs that require a license? A handyman can quickly alter their risk profile. By performing the following, then we are no longer dealing with a low-risk contractor:

  • Heat, AC or plumbing installation or repairs
  • Handicapped or Senior Living Modifications
  • Electrical work
  • Home Security Installation or Repair
  • Foundation repair and installation
  • Chimney sweep or Fireplace Repair

Some Jack of all Trades will, regularly, perform high-risk jobs. Can a handyman repair a roof?

What happens if, frequently, they start to replace entire roofs?


Could happen?


NO. IT DOES HAPPEN!

Two of the most famous Jacks of all Trades:  Bob the Builder and friend Hanny Manny
Bob The Builder


Bob the Builder or Tim “The Tool Man” Taylor
Over the years, Hollywood has created several iconic Handymen and women. But it is the contrast between Bob the Builder and Tim “The Tool Man” Taylor that gets my attention. The performance of these two a generation ago are perfect examples. Both portraying handymen, they demonstrate the dilemma that confronts insurance companies.


Looking for someone with a toolbox full of tools that can fix anything? The animated character, Bob the Builder is your man. For an insurance company, Bob is a great risk. His attitude and skills allow him to complete any job. Doing things the right way means that the risk associated with Bob’s work as a handyman is limited. As a result, he should warrant a low insurance premium.


But there is more to this discussion. The term, Jack of all Trades, is synonyms with Handyman. The original phrase was, “A jack of all trades is a master of none, but often better than a master of one.” The expression is intended as a compliment. The original quote placed value on generalist, those with a broad set of skills.

Jack of all Trades and handymen, so praise their broad skills while others worry that because they are generalist they don't have sufficient skills
Jake of all Trades


Over time we have modified the phrase to “a Jack of all Trades, and a Master of none. In these instances, the Jack of all Trades is portrayed as someone skilled in many areas. However, their skill levels are most likely to be inferior. Some of you will remember “Home Improvement,” a 90’s sitcom, starring Tim Allen. Tim portrayed another iconic Handyman; Tim “The Tool Man” Taylor. Every week, Tim Taylor brought humor to American homes. We watched as he managed to once again foul-up another home improvement project.


Risk Management for a Handyman
The agents at TruePoint Insurance work with handymen. Our process provides insight into your business. With this information, we can find the appropriate coverages for your Handyman business. We will work with you to craft insurance coverage that addresses your risks.
Insurance is just one component of risk management. We will also work to help you to better understand all the risks. We could just sell you an insurance policy. But our goal is to protect your business in the most effective way we can.


The option is yours, the number is ours. Call now and get started.


(502) 410-5089

TruePoint Insurance we are insuring Kentucky dot com
TruePoint Insurance we are insuringky.com

What Fisherville residents need to know about condo insurance

The real estate market continues to be very strong due to the local economy and new developments opening up all over the place. When you are looking to buy real estate in Fisherville, getting a condo could be a great option. If you do buy a condo, you need to make sure that you have it properly covered by a full condo insurance policy. There are several things that a Fisherville, KY resident needs to know about condo insurance. 

Valuable Coverage 

Most importantly, you need to remember that you get very valuable coverage from condo insurance. This will include coverage in the event your property is damaged or destroyed and will also include liability coverage. In the event of an accident or unfortunate situation, this could prove to be very helpful for you. A home associations policy will not cover your property.

Likely Requirement

Another factor to remember is that you will likely be required to carry the condo insurance policy at all times. If you took out a loan to buy the condo, your lender will likely want you to have condo insurance to make sure that their collateral is protected. Even if you don’t have a mortgage the condo association will likely require that you have coverage. This ensures that you have liability coverage in the event you cause damage to another condo or the common areas.

Your Kentucky condo is a major asset that you need to properly cover by insurance. When you are trying to cover your condo with insurance, you should reach out to TruePoint Insurance in Fisherville, KY to start the process. The insurance professionals at TruePoint Insurance can help you to better assess your individual risks. We will then help you find a condo policy that will properly cover you and your condo. 

Earthquake Insurance, Sinkhole Insurance & More

Do you live in an earthquake zone?  Do you have earthquake insurance?  If you don't know, call TruePoint at (502) 410-5089
US Earthquake Zones

Words and their usage impact our daily lives. As a kid, my mother would on a regular basis reminding me to watch my P’s and Q’s. This was not a suggestion to be on my best behavior. It was a threat that even the slightest slip in my manners would have severe repercussions. What and how we say things have been an issue for generations. But a solid case exists that communication is more important now that ever before. While the thought may seem hysterical at first, let in sink in for a moment. Most would agree that America has become precariously litigious. For years our actions have exposed us to constant risk. Today our words are placing us at jeopardy. As a result, it has become critical for Americans to develop greater awareness.
What is earthquake insurance?.

Standard insurance doesn't cover loss due to earthquakes.  Earthquake Insurance is add by endorsement.
Earthquake Damage


Earthquake – a term used to reference the movement of two tectonic plates along a fault line. The tectonic plates move past each other at a slow pace building up stress along the way. This continues until finally the plates slip releasing enormous amounts of seismic energy. This energy then results in a violent shaking of the ground. This is also referred to as an earthquake. Earthquakes can be the result of both tectonic action or volcanic.
The word Earthquake seems simple enough. But it isn’t. Your insurance policy most likely excludes loss caused by the movement of earth. How does that impact me? Ground that shifts, sinks, expands, contracts, or rises may create serious issues. That includes earthquakes, sinkholes, mudslides, landslides, and more. How serious? Your insurance company “Will Not Pay, Serious”! You can avoid this crisis by simply having the proper endorsements. But be cautious. You can purchase an earthquake endorsement. But what will it cover? Losses due to an earthquake! Nothing else. Related risk such as mudslides, sinkholes, and others are not covered. Failure to understand how this impacts your insurance may result in serious coverage issues. Failure to understand may result in no coverage.

Movement of earth is not covered by standard insurance.  That includes earthquakes, sinkholes and several more items.
Sinkholes are covered by standard insurance policy


Will your insurance pay in the event of an earthquake? Does a Homeowners policy or a Commercial Property policy protect against earthquakes? Earthquake coverage is not offered by a standard insurance policy. But, for most, earthquake coverage is available. It can be in the form of an earthquake endorsement. If asked to waive your right to earthquake coverage, we suggest that you ask the agent for a quote. It may not be as expensive as you think.
Most of us are insured by the Special Form, also known as All Risks Coverage. Earthquake protection is excluded by the Covered Causes of Loss Form. The exclusion reads so that damages that are a result of EARTH MOVEMENT are excluded. Inquire about the cost of an earthquake endorsement. With the in hand, you can now decide if you want to transfer the risk. In the process don’t forget the other risk associated with earth movement. The earthquake endorsement doesn’t cover these. We advise customers to consider each of the risks and if appropriate, evaluate the risk/reward.

What about hidden damages?  Are minor damages covered?  They are, but deductibles may be more than the loss.
Check your Deductibles for Earthquake. They will be higher than you are used too.

ance varies from one insurance company to the next. If you make a comparison for companies, you will find earthquake policies vary. If you have multiple homes in various states you should review individual policies. We advise this as earthquake endorsements issued by the same company may vary from one state to another.
Earthquake deductibles should be considered. Don’t be surprised to see a 10 to 20% deductible. These are pretty much par for the course. Any higher and it is probably worth your time to shop around.
As noted earlier, earthquakes represent only a small portion of the exposures related to the movement of earth. Because we live in the Ohio Valley, we can shorten the list. While anything is possible, most would agree that some of the risks aren’t as threatening as others. The risk that should be considered by most in our area:

  • Erosion,
  • Failure to suitably compact building sites,
  • Sinkholes
  • Deficiencies pertaining to site selection
  • Earthquakes
  • and Landslides

Add in mud-flows, mudslides, and volcanoes and we have a reasonable understanding of the movement of earth risk. Kentucky homeowners and business owners need to consider these and several other forces.
Standard policies may leave serious gaps. Property coverages leave most structures exposed the movement of earth. Don’t assume that your only option is to self-insure. Ask TruePoint. By asking the simple question, “how can I eliminate more exposures related to the movement of earth?” You will likely find that in some cases, options exist. Becoming increasingly more available is sinkhole insurance. Broader coverage in the form of earth movement riders may also be an enhanced risk transfer option.
If you would like to learn more about eliminating insurance gaps related to the movement of earth, reach out to a TruePoint Insurance Agent. We can be reached at (502) 410-5089.