What’s Under Your Roof?

cottage-768889_1920A North Bay Home Insurance Review

Have you ever stopped to think about all the things that could cause damage to your home and personal property? Probably not, but we think about your personal insurance coverage every day. Your homeowner’s insurance is designed to protect you from claims that can come from many different events. We can design a homeowner’s insurance product that fits your individual needs. Here are a few of the kinds of events that can be covered under your roof.

Damage To Your Home Can Include

  • Fire and smoke damage
  • Lightning strikes
  • Falling objects
  • Explosion
  • Vandalism and malicious mischief
  • Theft
  • Windstorms and hail
  • The weight of ice, snow or sleet
  • Water damage
  • Damage from an aircraft, car or vehicle

What is Not Covered Under Your Roof

A standard homeowner’s insurance policy will not cover; earthquake, flood, wear and tear, damage from animals, mold, acts of war, government actions, tenant damage, defective work, plus others.

Personal Property

Your homeowner’s insurance can also cover your personal belonging. This might include; cloths, furniture, and other items.

Do You Have A Leak In Your Roof?

Do you have coverage for additional living expenses if you are required to move out of your home while it is being repaired? If you own guns, art, or other collections, you may need additional coverage. Is your expensive jewelry cover while away from your home? If you don’t know the answers to these questions, call us today.

North Bay Insurance Brokers. is your trusted solution for homeowner’s insurance. We offer coverage options that are both flexible and affordable, and will work with you on an individual basis to find a policy that best suits your needs. Our team is dedicated to providing the assurance that your family and your possessions are secure.

 

 

 

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North Bay Home Rental Insurance Issues

pixa free dcdHow Our Sharing Economy Can Create Coverage Concerns

Many people are using VRBO, Airbnb, or other home renting sites. While this may be a great way to have additional income, it could pose issues if you rent out your primary home, condominium or apartment to others for a fee. It may be wise to read through this, and a related article, before you rent out your primary residence. If your home insurance is not recorded as a Landlord Policy, the insurer can deny the claim.

Five Reasons to Re-Think About Our Sharing Economy

  1. Your homeowner’s, renter’s or condominium insurance most likely will not provide coverage if you rent out your residence. So, if the renter damages your property or burns your home down, you will be uninsured under your homeowner’s policy.
  2. These sites say they offer some level of insurance, but it is usually secondary to your policy, and most likely will not respond.
  3. Read your lease or rental agreement; many of these prohibit sub-leasing.
  4. It may actually be illegal in your city to rent out your residence on a short term basis. Check the zoning laws in your community. If you live in an area with a community association, there may also be regulations to consider.
  5. By placing pictures of your primary home online you may open yourself up to loss of privacy and it could be a blueprint for criminals.

One final thought, you could also create increased liability if the renter somehow damages your neighbor’s property or injures a third party on your property.

The insurance industry will respond over time to the sharing economy, but in the meantime, there are limitations and restrictions in your current homeowner’s insurance policies of which you need to be aware.

At North Bay Insurance Brokers, we know how hard you’ve worked to turn your house into a home. Since your home is one of the most important financial investments of your lifetime, you’ll need proper coverage in order to keep your investment protected and provide your family with the guarantee that they’ll always be safe and sound.

What Do the Solar Eclipse and Insurance Have in Common?

moon-1783296_640The world recently experienced a spectacular total solar eclipse.  We were told the specific time it would happen and where the best places were to view the eclipse.  Did you stop to wonder who figured that out?  It was a complex process, and some very smart people from NASA determined the exact time of the eclipse and where the best places were to view it.  The mathematical calculations involved in developing that information are well above the skills of most people.  However, aren’t you glad there is someone who understands this so we can all enjoy and benefit from their detailed work?

If we were to compare the eclipse to insurance, the independent agent would be NASA, the sun and moon would be the insurance companies, and the public would be the policyholders.  Insurance is complex, and the professional agent manages the complex for the benefit of the insurance buyer.

Insurance is about a relationship involving three parties, the buyer, the independent agent, and the insurance company.  Here is how we see the needs of each party.

The Insurance Buyer.  Buyers of insurance want peace of mind and confidence that in the event of a loss everything will be ok.

The Insurance Company.  Insurance companies simply want to insure good risks and are transaction focused. Their decisions are financially focused, not relationship focused.

The Independent Agent.  Agents transform the complex so their clients can make educated decisions.  Helping the client to understand their risks and providing a number of reasonable solutions are the goals of the agent.

The person best suited to bring these parties together is the independent agent. The agent knows what risks the insurer desires and can educate the buyer in complex coverage design, safety, and claims management, in order to attract the best insurer option.  It is about building a trusted relationship that allows transparency between all parties.

North Bay Insurance Brokers, Inc. is your trusted solution for homeowners insurance. We offer coverage options that are both flexible and affordable, and will work with you on an individual basis to find a policy that best suits your needs. Our team is dedicated to providing the assurance that your family and your possessions are secure.

 

If It Quakes It is To Late

Earthquake1 bf6Everyone knows they need earthquake insurance, but not every business buys it. Let’s review some facts.

  • The U.S. has about 20,000 earthquakes a year, mostly small, and 42 states are at risk of quakes, according to the U.S. Geological Survey.
  • Just 10 percent of California businesses with property insurance also carry earthquake coverage, according to a recent Napa Valley Register story.
  • Global losses from earthquakes were about $313 million in 2014, higher than 2013 losses of $45 million but far below 2011’s $54 billion, the highest amount ever recorded, according to Swiss Re.

Insurance Coverage for Earthquakes in the United States: Standard business insurance policies do not cover damage from earthquakes. Coverage is available either in the form of an endorsement or as a separate policy. Earthquake coverage is available from private insurance companies rather than from the government.

  • March 2015 forecast from the U.S. Geological Survey (USGS) has upped the likelihood that California will be hit by a magnitude 8 earthquake over the next 30.The most recent calculations differ from those in the earlier USGS forecast in that scientists took into account the possibility that a quake can move from one fault to another, releasing more seismic energy, as well as including newly discovered fault zones. Scientists also said that the probability that the state will be shaken by a magnitude 6.7 quake, similar to the devastating 1994 Northridge temblor, is higher than 99 percent.
  • Most commercial earthquake policies for businesses have a deductible that is based on the value of the building insured. They commonly range from 5 to 20 percent
  • If an earthquake collapses your foundation, you’re not covered. If the earth shakes and a sinkhole swallows your business, you’re not covered. If the earth causes your merchandise to falls off the shelves, shattering on the floor, guess what? you are not covered.

As a locally owned and operated insurance agency in Sonoma, California, North Bay Insurance Brokers, Inc. is committed to providing quality insurance products for individuals and businesses. We combine our strong insurance background and product knowledge to assist both current and future clients in managing and planning for all types of risk.

Some information provided by Insurance Information Institute.

Earthquake Information… Gas Shut Off

Gas Service Shutoff ValvesEarthquake1 bf6

Manually turning off the gas service shutoff valve is the most common method to stop the flow of gas serving a building, or part of a building, in case of an emergency. Gas service shutoff valves are installed by PG&E at all gas meter locations or outside locations if the meter is not accessible from the outside.

Keep a 12 to 15-inch adjustable pipe wrench or Crescent-type wrench available to close the valve in case of an emergency. Earthquake wrenches with fixed openings may not fit a particular valve, so an adjustable type is best. To minimize the possibility of unauthorized operation of the valve, wrenches should be located nearby, but not at the gas meter location.

Shut off the gas service shutoff valve only if you smell gas, hear gas escaping, see a broken gas line, or if you suspect a gas leak.

To shut off the gas, rotate the valve a quarter turn in either direction; the valve is closed when the tang (the part you put the wrench on) is crosswise to the pipe.

In addition, most gas appliances have a gas shutoff valve located near the appliance that lets you turn off the gas to that appliance only. Know which of your appliances use gas, and where the appliance gas shutoff valves are located. In some cases, turning off the gas at the appliances shutoff valve will suffice.

Check out this You Tube video

 

Earthquake Update

 

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Important earthquake safety information:

Did you know you can have an earthquake actuated gas shutoff device installed? Some cities and counties require these already and more are expected to do so.

The State of California is required to approve all earthquake actuated gas shutoff valves used in the State of California. A list of approved valves is available on the DSA Gas Shut-off Valves Certification Program webpage:
http://www.dgs.ca.gov/dsa/Programs/programCert/gasshutoff.aspx
If you are not the do it yourself type, check out a recommended vendor:http://www.homesafety1st.com/