Thomas Insurance Advisors LLC

HAIL DAMAGE IN ST LOUIS

garyt — Wed, 02 May 2012 15:51:38 +0000

The April 28th hail storm is the worst hail storm the St. Louis area has received since April, 2001 (which at the time was the largest insurance payout in the history of Missouri).

Damage to your car: Expect complications getting a rental vehicle while yours is in the shop, as Enterprise and other local providers have run out of cars to rent. In addition, many of their own cars were damaged in the same storm. They and other companies are in the process of moving more cars to the St. Louis area.

Damage to your roof: DO NOT USE AN OUT OF TOWN ROOFER. Very often, they “find” damage that may not be there, and have even been known to create damage to fix. Use a local trusted St. Louis based company that has been in business for many years. Not only will they most likely do a better job for you, they will be available in the following years should something go wrong with their work. Lastly, you keep the money that comes from your insurance payout local, which is going to help the St. Louis economy.

Homeowners Insurance: What if water enters my home from the ground level or seeps through my basement walls?

garyt — Tue, 28 Feb 2012 20:07:28 +0000

Your homeowners insurance will deny the claim…always. Homeowners insurance policies exclude water damage, when the water has entered the house from the ground or surface level. Water seeping through basement walls is typically categorized as entering from the ground level. Surface or gound level water is more or less the definition of “flood” in the world of property insurance, and homeowenrs insurance policies exclude “flood” damage. To protect against surface water, you must purchase a flood insurance policy. You need this policy to protect yourself against what you stereotypically think of as a flood, but also simple surface water damage to your home. Please contact us with any questions.

DO YOU HAVE AN IN-HOME BUSINESS? YOU MAY HAVE ONE & NOT EVEN KNOW IT, AND NOT BE COVERED BY YOUR HOMEOWNERS INSURANCE.

garyt — Mon, 30 Jan 2012 20:29:49 +0000

What is an in home business? According to the Insurance Service Office’s latest policy, if you make $2,000 a year or more at a venture or hobby–that’s a business. So…if you make $2,000 through the year selling on E-Bay or Craig’s List is that considered having a “business?” Yes, it is. In most cases, having an in-home business can void liability and even certain property coverages on your homeonwers insurance policy! There are easy and in-expensive solutions, however. Let us know if you want more information.

Homeowners Insurance: Do You Have Children That Use Facebook? Make Sure You Are Covered!

garyt — Tue, 17 Jan 2012 19:01:51 +0000

Libel and slander can lead to huge devastating lawsuits. Many people believe that they have no chance of doing this on purpose or accidentally to someone else. This may be true, but what about your teenager? What they post on Facebook could be consider libel or slander, and if you find yourself at the wrong end of this kind of lawsuit, you won’t have any protection under most homeowners insurance policies. The good news is there is an easy fix: Have your insurance agent add “personal offense” coverage to your homeowners policy. This will most likely protect you, and typically only cost $8 to $40 a year, depending on your homeowners insurance carrier.

Tip on Avoiding Homeowners Insurance Claims

garyt — Mon, 16 Jan 2012 16:11:02 +0000

Every year water damage accounts for a huge percentage of homeowners insurance claims. One of the best ways to avoid a large water damage claim to your home is to familiarize yourself with the water shut off valve for your home. Many people know exactly where this is in their home, but many do not. Having the ability to quickly shut off your water can be the difference in have no damage to having tens of thousands of dollars in damage.

Homeowners Insurance and Your Jewelry

garyt — Thu, 12 Jan 2012 17:12:45 +0000

Most people believe that if they lose a valuable piece of jewelry, their homeowners insurance will cover the loss. Unless you have purchased extra coverage, your homeowners insurance policy will not cover lost jewelry, in most cases.

If you have jewelry that you want covered by insurance, it is important to review this subject with your insurance agent.

Most Homeowners Insurance Companies to Increase Rates in 2012

garyt — Wed, 11 Jan 2012 17:45:08 +0000

Missouri has been hit very hard by stormy weather in the last twelve months, including two tornados hitting St. Louis, one in Sedalia, and one of the most horrific on record hitting Joplin. In addition to the tornados, there have been tens of millions of dollars of damage from other hail storms throughout the state.

When a series of catastrophic weather events hit a single state (and many nearby states) in a relatively small amount of time, insurance companies react. They will not all react in the same fashion, but they will all react. At Thomas Insurance Advisors, we feel that over the next twelve to twenty-four months, homeowners insurance companies may be raising premiums, raising minimum deductibles, or begin depreciating the value of roofs at time of claim. We predict that most will raise premiums.

Your 2012 homeowners insurance renewal may be the perfect time for a homeonwers insurance reveiw.