Insurance companies closely monitor tropical storms and hurricanes, and according to the predicted path of the storm, may issue a temporary moratorium on any new policies being written in certain areas, until the storm either passes, changes direction, or dissipates entirely. This moratorium, called a "binding restriction" also applies to any changes in coverage. So, for example, if you are considering making a change to your policy, like lowering your deductible, or adding additional coverage, you will not be able to do so while one of these binding restrictions is in effect.

Insurance companies look at more than just your driving history and what kind of car you drive when calculating your premium. Factors like what zip code you live in, your age, and your insurance history are just some of the things insurance carriers look at when calculating your premium. However, one of the most important and most often overlooked variables is credit.

Depreciation can impact you significantly depending on how your homeowners policy is written when it comes to paying a claim, which is the very reason we all buy insurance. Let’s use an example. Imagine there is a fire which causes a total loss to your home. The structure of the home itself, and all of the contents are destroyed in the blaze. Your policy has an insured amount for your home, that will be used to rebuild it, but what about your contents?

If you own a home, particularly if you’ve built up any equity in it, you have a lot at risk. According to Zillow, just in Summerville, SC, homes values have increased about 30% in the last 5 years! This means that even if you haven’t made a huge dent in the principal on your mortgage yet, you probably still have a good amount of equity in your home, and that your assets (and your net worth) are higher than you might realize.

One factor that insurance carriers use that is rarely discussed by most consumers is something called “Public Protection Class”. The Public Protection Class, or PPC, is a rating provided by the Insurance Services Organization, known as the ISO, that indicates the level of protection by the fire department for your area. The rating is on a scale of 1-10.

Warren Buffett once said “someone is sitting in the shade today, because someone planted a tree years ago.”

You and your family can be sitting in the shade after one of the storms of life if you’re properly covered. You should ask yourself the following three questions today.

We often get customers asking us about “full coverage” on their auto policy. While minimum coverage is very easy to explain-it’s the very least amount of insurance that you must buy, as required by law-“full” coverage is a little less cut and dry. When it comes to your insurance policy, there are a variety of features you can include beyond the minimum liability coverage required by law. These features offer many different benefits and protect you from different types of risk.

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