Standard homeowners’ coverage, which the insurance industry refers to as an HO-3 policy, might be inadequate for your old home. The inadequacy risk is especially high if the home still has most of its original materials. Thus, you should consider alternatives to the HO-3 policy or supplement the policy with add-ons. Below are some of the options available to you.
HO-8 Policy
An HO-8 policy targets properties whose replacement values exceed their market values, as is the usual case with older homes.…
Read More »
Your auto insurance rates will likely increase after an accident. The rate increase is not a punishment from insurance companies. Rather, post-accident rate increases reflect the changed circumstances and new risk determination. Below are factors determining the possibility and extent of a rate increase after an auto accident.
Accident Cause
Your auto insurance rates are sure to rise if you cause an accident. Even a single at-fault accident increases your rates.…
Read More »
Cyber-attacks are not a new phenomenon. Yet, there are many misconceptions people have about them. And one of the widely spread beliefs that some people assume is that hackers solely target large corporations that make millions of dollars in profits, but this is incorrect. Admittedly, big companies are at a higher threat of cyber-attacks. Nonetheless, this does not mean that their smaller counterparts are exempt.
If anything, since small businesses do not have tremendous budgets as large corporations do, the small businesses tend to be at a higher threat of cybercrimes due to the lack of adequate cyber protection.…
Read More »
