Umbrella Insurance – Avant-Garde Insurance Advisors

What Insurance Policies Should You Have?

In January I asked my LinkedIn and Facebook audiences to guess the number of insurance policies an individual should have? How many policies does a single individual, regardless of marital status and family make-up need? I am happy to report that someone correctly answered that you need 7 insurance policies. These policies include:

Auto Insurance – Auto insurance is typically the first policy we all purchase, for the first car we ever own. Auto insurance provides you liability coverage for damages done to others and coverages for the repair or loss of your own vehicle.

Home Insurance – Home insurance includes renters insurance, condo insurance, and home insurance policies. Similar to auto insurance it provides liability coverage to you as the owner and provides coverage to repair or rebuild your home after a claim.

Schedule Insurance – We all have personal belongings which are valuable and/or difficult to replace – be it jewelry, watches, bicycles, sporting equipment, electronics, art, etc. All home insurance policies have limitations on certain personal items, which is why everyone should consider a schedule policy. Check out this article on the personal items we typically collect.

Umbrella Insurance – While we may never intentional mean to harm some one, catastrophic events do happen and people can be hurt, and we can be able responsible for the damages. An umbrella policy provides additional liability coverage over our auto and home insurance policies should a catastrophic liability event occur.

Health Insurance – When we finally move out of our parent’s home this usually is when we get our own health insurance for the first time. This could be through our employer or an individual health insurance plan. Health insurance covers the cost of our medical care.

Life Insurance – As our family dynamics change we may need to secure a certain lifestyle for our spouse and/or our children should some thing happen to you. Your spouse and/or children may depend on your income and may not be able to continue their way of life if you were to pass away.

Disability Insurance – Similar to life insurance, disability pays to maintain your lifestyle should you be unable to work due to a major and/or permanent medical event. If you are unable to work disability insurance will provide you income.

You may think that you don’t need all of this insurance or that you can’t afford it. With the right insurance advisor you may be able to secure all of these policies at a reasonable cost. What you will not be able to afford is to be out of pocket if you do not have the right insurance when you need it most. By purchasing the right insurance today you will secure your future and that of your family’s.

Googling homeowners insurance could spell disaster for you.

Have your ever Googled your symptoms even though you know you should’nt only to find out you are dying in the next five minutes?!?

I have done it. I was recently diagnosed with a difficult form of eczema but had convinced myself after Googling my symptoms that I had skin cancer. After hemming and hawing I decided to put on my big girl pants and talk to a professional – my dermatologist. She quickly settled my nerves and told me that greasy lotion was my new best friend and that feeling like a greased pig was a new way of life now.

That’s like Googling home insurance and going with the first website that promises you cheap home insurance. It may seem easier and less stressful to do it yourself but you don’t really know what you need or what’s available. Only an professional can do that.

According to a study completed by JD Power in 2016 74% of new insurance purchasers will begin the buying process online. Of those consumers 25% will purchase insurance online. The rest use other methods, such as insurance agents or insurance company call centers. Now consider that 60% of homes in the US are under insured as stated by Marshall & Swift/Boeckh, and per Insurance Information Institute 1 in 20 homes will have a home claim each year. Those are some scary statistics from my perspective.

I know asking for help is difficult sometimes. My husband easily comes to mind when it comes to asking for help, asking for directions, or visiting a doctor. Hearing, “Honey, you were right.” always feels good. There is a reason there are doctors and there is a reason why there are Insurance Agents. It’s because we need them.

You may think by Googling and searching through a couple options that you have the right insurance. You can’t tell from seeing a few websites what you are getting until you are knee deep in a claim and you are hearing the word “denial” from your claim adjustor when you realize you may need a professional.

You are not paying extra money by using an Insurance Agent. You are asking for some one to build a relationship and trust with you. You are asking for an Insurance Agent to help you insure your home and auto adequately and to educate you about what is available to you. So ask for help and don’t go it alone. You will be glad you have some one to call if and when something happens.

11 Reasons to Work with Avant-Garde Insurance Advisors

For 20 years I worked tirelessly for insurance agencies receiving little appreciation for my contribution to the agency or the industry. I dazzled their clients and bonded with their prospects like no insurance agent could. I aspired to continue to grow, improve, and give back while insurance agencies were unwilling to create necessary change within the agency and the industry. A year ago I struck out on my own to create an insurance agency different from others. An agency that challenges how people view insurance; as a commodity, as a necessary evil, as a conspiracy. Avant-Garde Insurance Advisors is not another insurance agent, we are an Insurance Advisor. Below is why Avant-Garde Insurance Advisors is not an insurance agent.

I will challenge the thought that insurance is a commodity every day. Insurance is not a one size fits all. Every policy is different. Each insurance company has its own appetite for the preferred policyholder. Reading an insurance policy requires an insurance and/or legal background. Not all insurance claims are covered and/or go smoothly.
I will continue to learn about insurance every day. Not because the state of Maryland says I must but because I want to give you the most up to date information that is available to me. Yes, continuing education sucks but it is a necessary evil in order to give you my best. The insurance industry constantly changes, and I want to be at the forefront on behalf of my clients.
I will share with you my insurance knowledge. I am not a gatekeeper of insurance knowledge but I do live and breathe insurance each day and I want to help you better understand insurance so you can make a more informed insurance decision.
I will provide consistent oversight over your account and make you aware as soon as possible of issues or concerns. I will also provide you options on how to handle your insurance needs. I will steward your account as if it were my own.
I will advocate on your behalf with the insurance company to treat you fairly. The insurance company needs to make a profit. You need to maintain your livelihood.
I will communicate the timeline for completing your request and I will stick to it. Insurance does not happen at the push of a button – if done right.
I will be honest with you. If I make a mistake, I will tell you. I will also tell you how I am working to correct it. I am only human, but I value you as a person.
I will tell you how it is and not sugar coat if you are jeopardizing your insurance future. It is not in your best interest or my best interest if we are not open with each other.
I will not bend rules or lie to another party for a client. I cannot in good conscious jeopardize my livelihood or my family for another person.
I will not offer you the cheapest insurance program just to beat your current insurance program. Any one can offer you a cheaper policy by cutting coverage or not give you all the information. My job is to give you the best coverage for you.
I will work to earn your business every day. Insurance is a relationship business, not a sales business. Tell me about your work, your spouse, your kids, your hobbies. I want to know who you are.

If you want more than an insurance agent, if you want more than an insurance transaction, if you want something different start working with an Insurance Advisor at Avant-Garde Insurance Advisors today!

National Insurance Awareness Day, June 28th

This Friday, June 28^th is National Insurance Awareness. The day was created to encourage everyone across the nation to review their insurance policies.

Below are some tips to help you observe the day:

Home:

Review the home value. The value of the home should be based on current construction costs, not market value. You should review the home value every 3 to 5 years.
- Review the home credits. If you have installed an alarm or have turned your alarm service off you should update the home policy accordingly.
- Review the deductible. The higher the deductible the lower the premium. Also a higher deductible will discourage you from filing small claims which can impact your ability to obtain coverage in the future.
- Review the endorsements included in the policy. If you have switched insurance companies recently a coverage may have been dropped during the process.

Auto:

Review drivers listed on the policy. All licensed drivers residing in your home should be listed on the auto policy. Failure to do so could result in a denied claim for unlisted drivers.
- Review ownership of the vehicle. If the loan or lease agreement has been satisfied update the policy. This will prevent delays in payment at claim time. Any change in titled ownership should also be reflected on the policy or a new policy purchased for the vehicle.
- Review deductibles. Insurance companies continually increase the price breaks for higher deductibles. As with the home insurance a higher deductible will save you premium and discourage you from filing small claims.
- Review usage of each vehicle. Vehicles used for Uber or Lyft services do not have coverage while being used for this purpose. Vehicles used for business purposes may also not have coverage if used for business at the time of a claim.

Schedule:

Update items to be listed along with values. Appraisals should be completed every 3 to 5 years to keep up with market values. Use an inventory such as Collectify to manage your collection easily.

Umbrella:

Update properties, vehicles, drivers, recreational vehicles, boats, etc. at each renewal. Failure to update could result in no coverage under the umbrella.
Make sure the underlying insurance policies for each of the above meets the minimum liability requirements to avoid a coverage gap.
If you do not have coverage for the underlying insurance policy for each of the above obtain it at your earliest convenience.

With the help of a Trusted Insurance Advisors they can help you review your policies at any time, not just this Friday or at renewal. A Trusted Insurance Advisor is there to help you every step of the way. Call your agent today!