Insurance needs often change, and sometimes even small changes can make a big difference in your policy. At a minimum, you should review your policy every 12- 18 months, though the former is definitely better than the latter. You should also review your policy for every life change. These include events such as marriage/divorce, kids leaving home, a family addition, income change, health change, and large purchases.
The type of life changes that will affect your policy is determined by the type of insurance you have. For instance, a change in health might affect your health insurance and life insurance policies, but probably not your auto insurance. Likewise, a large purchase may affect your homeowner’s insurance, but not likely your health insurance.
Major life changes can make a big difference in your needs but so can some smaller ones. The small ones may be changes you do not even think about. Maybe your nephew stayed with you for the summer but you did not think about taking him off of your insurance coverage when he left. Perhaps a child who was once a car rider in your vehicle no longer rides with you.
This is why you should diligently review your insurance policies, especially the type of policy, the insured, and the beneficiary. If you are unsure if a change needs to be factored in, speak to an insurance agent. By contacting Easley Hedrick Insurance & Financial, you will have a partner to go through your insurance with you line by line to assess any changes that should be made. We aim to help Richmond, VA residents have policies that cover their needs without unnecessary expenses.
If it is time to review your insurance policy, you have had a major life change, or you are unsure about a part of your coverage, call or stop by Easley Hedrick Insurance & Financial today. We are dedicated to serving Richmond, VA and aim to give you the best insurance service possible.
Moving into a new rental unit in the Richmond, VA area is a very exciting time and situation. When you are looking to move into a new place as a renter it is important that you are aware of all of your new responsibilities. One thing that you will likely be required to do is have renters insurance in place at all times. There are several reasons why having renters insurance is necessary.
Protects Personal Assets
One reason why insurance is a necessity when you are renting is that it will help to protect your personal assets. If you are moving into a new rental unit you could incur a variety of expenses related to the purchase of furniture, clothing, and other items. If you do not have renters insurance, you will not have coverage for these assets if they are damaged or stolen. A renters insurance policy will give you coverage for your personal belongings.
Another reason why you need to have renters insurance is that it will provide you with liability protection. As a renter, you are taking on liability if you have someone come to your home. If they happen to be injured while in your apartment, you could be liable for their damages. Fortunately, the liability portion of your renter’s insurance policy will give you coverage for this.
If you are renting in the Richmond, VA area, you should speak with the team at Easley Hedrick Insurance & Financial to learn more about how renters insurance can help you. The Easley Hedrick Insurance & Financial insurance professionals will be able to review your particular situation and figure out what renters policy is right for you. This can ensure that you are properly covered in your new home.
Whether you need business or personal insurance coverage, adding an umbrella policy can enhance your liability protection and give you financial support when mitigating insurance claims. The financial assistance you receive does depend on your policy and the terms you agree to. In some instances, your umbrella policy can help cover legal or settlement costs, when the monetary thresholds of your other policies are exceeded.
Umbrella coverage may be the only protection you have in certain situations, such as cases involving libel or slander. In these instances, the legal fees can skyrocket quickly, and an umbrella policy may be your only line of defense. Businesses and individuals can benefit from umbrella coverage. When determining monetary thresholds, it’s important to consult with an experienced insurance professional. Meeting with an associate at Easley Hedrick Insurance & Financial in Richmond, VA can help you determine your risk profile and coverage needs.
Living in a litigious society means that there is a significant risk of litigation if you are liable for causing damage or harm to others. Having insurance that can cover legal costs is a prudent decision. Using umbrella insurance in a coordinated effort with other types of policies is also important. In doing this, you can create the best possible screen of defense. The insurance professional you choose can ultimately determine how well-rounded your protection is. So, choose your insurance professional wisely.
For additional information on umbrella insurance and the costs, it covers, please contact Easley Hedrick Insurance in Richmond, VA. An experienced professional will be available to answer your questions and set up a consultation. Let umbrella insurance enhance your peace-of-mind starting today.
So, you live in Richmond, VA, and you need car insurance. Whether this is your first car or just the next, some rules can help you get a great deal that properly covers your vehicle. After assisting many others to find the right policy, the good people at Easley Hedrick Insurance & Financial have put together a little advice.
Check State Requirements
There’s a lot to consider when you shop for car insurance, but this has to be at the top of the list. The last thing you want is a policy that doesn’t keep you out of trouble. State requirements change over time, but right now in Virginia, there are three minimums you need to know. The first is coverage for bodily injury. Your policy requires a minimum of $25,000 per person and $50,000 per accident. Next is property damage. You need at least $20,000 in coverage per accident. Lastly is uninsured motorist coverage. The requirement here is again $25,000 per person and $50,000 per accident.
Consider the Cost of Replacement
Your coverage is legally compliant. That doesn’t mean it’s right for you. When most people shop for insurance, they look at the value of the car they’re insuring. While this feels reasonable, it isn’t the most important number for most of us. Instead, you want to consider the cost of replacing your vehicle.
In most cases, that number is higher than the current value of your car. The ultimate goal of insurance is to make sure you can get back to work, or the grocery store, or anywhere else you need to go after a crash. Getting a policy that is geared towards the cost of replacement is critical.
Talk to an Agent
There are a lot of insurance companies, and they offer tons of different policies. You have the freedom to customize yours. It’s perfectly reasonable to ask for a little help. The agents at Easley Hedrick Insurance & Financial know the ins and outs of insurance in Richmond, VA. Let us help.
Every business comes with its own risks, but there are certain risks you should be more prepared for with the right commercial insurance policy in Richmond, VA. An agent at Easley Hedrick Insurance & Financial can help you determine some of your risks.
- Data Breaches: Every industry has seen a huge increase in cybersecurity needs. Every business that accepts credit cards can be at risk for a breach and should re-evaluate its security practices to help protect against any fraudulent activity. Cyber insurance can help mitigate some of these risks and, if there is a data breach, the insurance can help with the costs.
- Property Loss: Your business property needs to be protected from the unexpected, just as a home does. Commercial property insurance can help protect the property and the company assets from events such as fires, storms, and other disasters. Policies are available whether or not you own the property or lease it.
- Business Interruption: If an unforeseen event causes your business to shut down, it can be damaging to profits. Business interruption insurance can help cover operating costs and loss of income, so you can help maintain payroll and still replace the equipment you need while repairing any damage.
- Injuries: Workplace injuries can result in costly medical treatments, as well as lost productivity. You are required to have workers compensation coverage to cover workplace injuries, but certain workers are more prone to injuries than others. If you own a business in an industry where there are more risks, such as construction, you want to get additional workers compensation insurance.
- Professional Service Mistakes: Service providers, such as consultants and accountants, can face legal action if the service didn’t meet expectations. Professional liability insurance can help cover any defense costs and damages that result from a mistake.
Contact Easley Hedrick Insurance & Financial, serving Richmond, VA, to recive a quote on commercial insurance.
It’s now finally come. The time that you need home insurance for your property in Virginia. After going through a myriad of insurance resources, you have finally found an insurance company that is willing to make a policy that fits your needs.
What’s to understand?
Understanding this contract is a different story. There is bound to be problems if you have never dealt with such a contract before. To understand what you should be on the lookout for, consult Easley Hedrick Insurance & Financial to have an agent walk you through the home insurance process.
We will help you with the clauses that deal with your coverage level in the home insurance policy. These clauses are specific on the particular event or risk the insurance policy covers and what is not in the coverage.
With no proper guidance on the coverage clauses, it can lead to a rude awakening when a particular event like a burglary comes to pass, and the insurance contract did not offer any part or full coverage against the specific type of incidence. Here, the property owner is at a loss. For there is no compensation in spite of having an insurance policy.
Next is the exception clauses that you will need to understand. There is usually fine print that appears near end of an insurance contract. You might misread or not follow the text or you may overlook certain parts of the contract. There is a lot to read. In understanding these details, you will be more relaxed and well informed about the state of your home insurance.
Finally, we can help by letting you know when the home insurance takes effect, what are your rights, and the obligations in the contract. These are some of the details better explained to you at Easley Hedrick Insurance & Financial in Richmond, VA.
There you have it, consult Easley Hedrick Insurance & Financial in Richmond, VA for your home insurance needs. We can help you understand the policy and answer any questions you may have.