Each year, you should take the time to do a complete inventory of the contents of your home for your homeowners insurance policy. This inventory list is what your homeowners insurance company will refer to when and if you file a claim with them to cover the loss of your belongings.
Why does this process need to be repeated each year?
There are three main reasons that you must take inventory each year:
Commercial insurance, which is often called business insurance, can be expensive. As a business owner, you want to make money, but if your costs are too high, they can cut into your profits. Nevertheless, commercial insurance is a necessity. Here are a few tips to lower the cost of your commercial insurance:
Choose a Higher Deductible
As long as you maintain enough extra money in your business account to cover a higher out-of-pocket expense from an insurance claim, consider increasing your deductible amount.
One of every five motor vehicle accidents takes place in a parking lot, and 14% of all accident damage claims stem from these collisions. Determining liability in a parking lot accident is difficult because the lots are private property. If you are involved in such a collision, you will need to take steps to protect yourself and ensure that you receive the proper compensation.
Parking lots are the site of so many accidents because they are chaotic places.
When the bulk of your net worth comes from owning a home, having the appropriate amount of homeowners insurance in place is a must to protect the investment. Procuring the proper insurance policy often centers on looking at the risks most common risks to the location in which your home is located. Has the area near your home been stomped on in the past by Kaiju Eiga (giant monsters) of Godzilla and Ultraman fame?
Are you worried that getting a dog will increase your home insurance policies? You should be -- dogs are one of the major factors that increase insurance premiums. In fact, dog bites are one of the major sources of home insurance claims, leading dogs to constitute a major risk.
The only way to avoid this is to plan ahead of time:
1. Get Separate Dog Liability Insurance
This may seem contrary to your goals, but sometimes to reduce your overall cost of insurance, you need to purchase more insurance.