What Our New Employee Jamie Can Tell Us About Insurance

7/19/2022 (Permalink)

Home and business insurance can be a confusing and daunting process to understand. SERVPRO of Northeast Wichita recently added an amazing asset to their team, our new Marketing Rep Jamie Sigars. Jamie has worked in the insurance industry for many years. We asked her some of the top questions home and business owners have or should be thinking about insurance 

How often should you revisit your policy and coverages? 

The best rule of thumb is annually.  30 days prior to the next renewal.  There are multiple reasons.   

1. Each year your policy coverage increases due to the cost of labor and materials and claims history. As those costs fluctuate from year to year, your policy may have increased more or less than what you truly need.  

1. If you carry a deductible that is based on a percentage of your coverage, then that should be discussed annually. 

1. Any improvements should be discussed at the annual review.   

What should home and business owners know about roof coverage? 

First and foremost, never file a roof claim until a roofer has determined the cause of loss. If the damage is weather related; it should fall under a named peril in the policy. If the cause of loss is due to age, neglect, or product failure, it would not be covered by insurance.  Any claim, including a $0 paid out claim on record will increase your premium.   

Upgrades on your policy, how often should people upgrade, an estimated price to upgrade? 

Anytime there is a life change, increase in assets or improvements made to the home.   

I mention life change because the liability coverage on a homeowner’s policy follows the insured off of the property.  In today’s climate of easy lawsuits, protecting one’s assets is as easy as increasing the liability coverage on a homeowner’s policy for minimal cost.  Next best thing would be to purchase a Liability Umbrella policy.  

Sump-pump coverage, do we need it? Is it already a part of our standard policy?  

Sump-pump coverage (or also known as back-up of sewer & drain) is not a common standard coverage on all policies.  It is in most cases an elected endorsement.  Most homeowners choose to add it to a policy.  Sump-pump endorsement usually has its own limits and deductibles from the standard named peril. 

Are mold damage repairs covered by our insurance? 

Mold is rarely covered by a policy.  If a company should offer an endorsement for mold, I highly recommend adding it to the policy.   

Fine print of your policy, what do people usually miss? 

Truth..... It is all fine print....  

The best way to understand the policy is by conducting an annual review.  

Most insures never read the policy and don’t see these parts  

*Misuse and abuse  

*Can’t be liable to yourself 

*Named perils 

*Losses not covered 

*Neglect 

Here at SERVPRO of Northeast Wichita our employees are our best asset. Jamie has added such value to our team. We hope you take this information and look at your own insurance policy. We have seen so many circumstances where things were missed and now the homeowner is responsible for far more than they should be. Give SERVPRO a call at (316) 684-6700 if you experience a loss and need help with the next steps.