Uncategorized

Let’s face it. Most people put off buying life insurance for any number of reasons, if they even understand it. Take a look at this list, do any of them sound like you?

1. It’s too expensive

In the budget of a young family, things like day care and car payments and possibly student loans eat up a good chunk of the money each month. Most people think that life insurance is just outside those “necessities” when money’s tight. But two things: life insurance is often not nearly as expensive as you might think, especially when you can get a good policy for less than the cost of a daily cup of coffee at the local café, and well, if money’s tight now, what if something happens to you?

2. That’s that stuff for babies and old people, right?

People of a certain age remember Ed McMahon telling them their grandparents couldn’t be turned down for a policy for any reason and figure that’s the target demographic for life insurance. Or, you might have been offered a small permanent insurance policy for your newborn, attractively presented with an adorable infant on the envelope. The truth of the matter is that these are very specific insurance products—just as there are many insurance products for adults in their working years.

3. I’m strong and healthy!

You eat right, you stay active, and you passed your last physical with flying colors! That’s GREAT! But you’re neither immortal nor indestructible. It’s not that something could happen to you while you’re at your strongest and healthiest, there’s no better time to get a policy to protect your loved ones. If you fall seriously ill or suffer significant injury later, it will make it tougher to get that kind of policy, if any at all.

4. I have life insurance through my job

.Many people are offered life insurance as part of their employee benefit coverage , and often, it’s the first time they encounter life insurance and have no idea that a $50,000 policy, or one or two times their salary, isn’t as much as they think it is. It sounds like a lot of money, until you figure that it has to cover some or all the expenses for your loved ones in your absence. Plus, if you leave the job, it’s typically the type of insurance that doesn’t “move on” with you.

5. I don’t have kids

Sure, kids are a big reason why some people get life insurance. But that’s not the only reason for needing protection. If there is anyone in your life who would suffer financially from your loss, your spouse or live-in partner, a sibling, even your parents, a life insurance policy goes a long way in making sure everyone’s still OK even if something happens to you.

6. Life insurance, it’s on my list, eventually

There’s no deadline on life insurance, no mandate from the government on purchasing it. Your parents may have never talked to you about its importance, and it’s certainly not the most invigorating topic for conversation. But don’t let your “eventually” turn into your loved ones’ “if only.”

If any of this sounds intimidating, just know that you can talk to your Aitken & Ormond Agent. They will help you figure out how much you may need, and also find a policy that fits into your budget.

You received your annual homeowners renewal notice and you’re surprised: Your premiums have gone up. The truth is, it’s common to see an annual increase in your homeowners insurance premium, and in many cases, it’s not the result of something you did. In fact, much of it may be totally out of your control.

Has your insurance premium gone up? Here’s what might be behind the increase – and what you can do to help keep your homeowner rates in check.

Reasons Beyond Your Control

Labor and construction material costs have gone up.

A part of your premium is based on how much it would cost to rebuild your property if there were a total loss (such as a fire or other covered catastrophic event that occurred). These reconstruction costs ebb and flow, and they rely heavily on economic factors and market prices of both materials and labor. As these costs rise, insurance carriers adjust your coverage amount to reflect these local factors.

Natural disasters are on the rise or weather has worsened in your area.

Local weather and environmental conditions have a big impact on your premiums. When catastrophes like wildfires, wind or hail are on the rise in your area, it increases the risk to your property, and insurance carriers typically increase rates in tandem. Upticks in damaging weather conditions like hail, wind, tornadoes and hurricanes can also cause a rise in premiums.

Your aging home.

As your property gets older, it becomes more vulnerable to damage and loss. Plumbing, HVAC and electrical systems are typically more liable to break down (or even cause fires or other issues), and structural components like the roof, foundation and other features can be more easily damaged by weather, as well as general wear and tear. As a result, your insurance carrier may increase your premiums to account for these added risks.

Though your home’s aging isn’t something you can slow down, you may want to consider replacing any fixtures or features that are more than 20 years old. When you do so, alert your insurance agent, and it may help reduce your rates.

Some Things You Can Do to Help Prevent a Loss

Even in the best of circumstances, a homeowner faces the possibility of a property loss. The good news is, there are some actions you can take to help protect against some of the most common losses. Also, there are options that may help ensure you get the homeowners insurance rate that works best for you. Here are a few ideas to consider:

Smart home technology

Smart home devices, such as monitoring systems, have sensors that can alert you to water leaks, sounding smoke alarms, temperature changes in your home, and the opening of doors and windows.

Higher deductibles

Sometimes, increasing your homeowner’s deductible can be a helpful way to save money on your homeowner’s insurance policy. That means that, in the event of a loss, you will be responsible for the higher deductible you selected, so be sure you’re comfortable with the amount. Ask your insurance agent to explain your deductible options before you decide what to do.

Inquire about savings opportunities with your insurance agent

Whether it’s a multi-policy discount you can get by bundling your homeowners with auto or an umbrella policy, or a savings derived from consistently paying your premium on time, there may be some options to help save you money. It’s worth a phone call to your insurance agent to find out.

The Bottom Line

As you can see, insurance rates can go up – often in response to items out of your control – environmental changes, the economy and more. Though in most cases you can’t change these factors, you can help ensure you’re getting the best service and coverage for the increased rates you’ll be paying.

 

To do this, ask your insurance carrier the following questions:

• How quickly do you service claims?
• Do you outsource any aspect of your customer service?
• How can you help me better protect my home and property?
• Why have my rates increased? What does the added cost cover, and how would it help me in the event of a loss?

Reach out to your Aitken & Ormond agent today to make sure you’re getting the right coverage to protect your home.

You may not be able to protect against all the risks your business faces, but you can manage some of them with business insurance. This is what a business owner’s policy, or BOP, is designed to help you do.

A BOP is a policy designed specifically for the needs and budget of small business owners, and the risks they commonly face. BOPs bundle two types of protection in a single policy — commercial property and general liability insurance — which allows providers to sell them for less than two policies sold separately.

BOPs are also customizable. You can add on coverages to tailor a policy to the specialized needs of your business or industry.

A BOP may be right for you if your business has fewer than 100 employees, meets certain maximum income requirements and is a low-risk operation. Businesses that are larger, highly specialized or have high-risk operations may need more coverage than a BOP can provide.

Here’s a closer look at the coverages that are included with a BOP.

Property Insurance

The property portion of a BOP covers damage to your business caused by fire, explosion, windstorms, theft, vandalism and any other perils/risks specifically listed in the policy. The types of property that are covered by a BOP include:

• Buildings you own, lease or rent
• Essential business personal property such as equipment, inventory and supplies
• The property of others while it is in your care
• If your building is vandalized, for example, your BOP policy will help cover the cost to repair the damage and replace any damaged contents. If a customer’s property on the premises was also damaged, a BOP will help pay to replace that, too.

But BOP property coverage is not all-inclusive. When purchasing a policy, be sure you understand what business properties and perils/risks are included and excluded to avoid any surprises should you need to file a claim. If you want broader protection beyond the standard BOP, you may be able to purchase a “special” BOP form that provides all-risk coverage for a higher premium.

Liability Insurance

Lawsuits can be costly even if you’ve done nothing wrong. The liability portion of a BOP offers financial protection if a third party sues you for:

• Damage to the third party’s property while under your care
• Physical injuries suffered on your premises, such as slip-and-fall accidents
• Advertising injuries, including copyright infringement, slander and liable

Your BOP policy will help pay lawyers’ fees, settlements or judgments and other costs related to a lawsuit. It may also a portion of medical expenses for an injury sustained by a third party on your premises or as a result of your business operations or products.

Business Income Insurance

Property insurance may cover your business’s physical assets, but it does not cover lost revenue that results from those damages. Business income insurance is a way to help sustain cash flow if you need to suspend operations while recovering from a covered property loss.

Many BOPs include business income insurance as part of the property coverage. If your business is interrupted, this important coverage can help pay for ongoing expenses such as employee payroll and rent. It may also cover the extra expense of running your business out of a temporary location while your property is restored.

Many policies limit business income protection to six or 12 months of lost revenue. Be sure to review the time limits associated with your policy with your insurance professional.

Additional Coverages

If your business or industry faces additional hazards beyond those covered by the BOP, you can customize your policy with riders or endorsements that add insurance protection for specific risks. For example, many insurance providers offer endorsements for:

• Data breach: If your business experiences a data breach, this coverage can help with the cost of notifying affected parties, protecting stolen identities and engaging credit monitoring services, as well as help with legal defense, settlement or judgment costs.
• Professional liability: This coverage protects your business from lawsuits claiming that your business committed a negligent act, error or omission in professional services provided to a client or customer.
• Spoilage insurance: If you sell perishable stock such as food or plants, spoilage insurance can protect your lost income should stock expire due to contamination, equipment breakdown or a power outage.

A standard BOP covers the primary risks associated with running a small business, but it doesn’t cover everything. You’ll still need to purchase workers’ compensation insurance if you have employees, commercial auto insurance if you have a business-owned vehicle, and other types of insurance depending on your business. If you need extra coverage beyond the limits of the standard BOP, you can also supplement your coverage with an umbrella insurance policy.

Talk to an Aitken & Ormond insurance professional to learn if you qualify for a BOP and if you do, what coverages and limits may be right for your business.

If you own a boat you want to ensure your boat is fully protected.

A homeowners insurance policy may only provide limited coverage. Additionally, if you file a claim for your boat, it may affect your homeowners insurance premium. Purchasing a separate boat insurance policy can lessen the risk to your homeowners policy.

Boat Insurance Policies

A separate boat insurance policy will provide tailored protection for your boat. These policies are typically obtained to cover smaller watercraft (26 feet long or less), and yacht policies are provided to cover larger, more expensive watercrafts. There are two basic parts of a boat insurance policy:

• Physical damage protection – covers accidental loss or damage to the boat hull, motor(s), and any other equipment used to operate the boat.
• Liability (Property and reimbursement) coverage – covers legal obligations to third parties such as bodily injury, death, and damage to someone else’s property.

Types of Physical Damage Coverage

In the event of a loss to your boat, the amount of money you receive from the insurance company may depend on the type of policy you buy and the age and condition of the boat.

Depreciation is the decrease in value of an object over time due to wear and tear, and some types of insurance policies factor this into your settlement. The types of loss/settlement options include:

• Agreed Value Policy – this type of policy covers the boat based on its value when the policy is written. This policy tends to be more costly, but depreciation is not included in the settlement of the claim. This is the recommended type of physical coverage.
• Actual Cash Value Policy – this type of policy is less costly but takes depreciation into account in the event of a claim.
• Replacement Cost Policy – provides coverage to return your boat to its pre-accident condition or better.

In addition to ensuring physical damage and liability protection for your boat, check with your Aitken & Ormond agent to see what optional coverages are offered by insurance companies.

Boating in Michigan

We live in a state where boats cannot be used year-round. It is important to understand any storage requirements on your policy. You may be required to store it inside, and freezing, ice damage, and damage caused by certain vermin may not be covered.

There may also be navigation limits on where you are allowed to take your boat. If you plan to use your boat other than on the Great Lakes, read your policy and consult with your agent to ensure your policy will cover it.

Be Prepared in Case of a Claim

When you start a new policy on your boat, it is important to take pictures to document the condition of your boat. You may also want to consider having a survey, so you have a written report of the boat’s condition. This may help prevent issues in the event a claim is filed for physical damage.

Contact your Aitken & Ormond Insurance Agent to find the right policy so you can relax and enjoy Michigan’s beautiful lakes this boating season.

 

What’s an umbrella policy and why should you have one?

An umbrella is an essential item on a rainy day. There are times when you can’t leave home without one. When a financial rainy-day hits, you may also find yourself reaching for your umbrella – that is a personal umbrella insurance policy.

Homeowners insurance and auto insurance offer necessary coverage, but each has its limits. Have you considered what you might do if an accident at your home or on the road left you liable for more than your policy coverage limits? Time to grab that umbrella! Personal umbrella coverage offers protection beyond the limits of your existing policies and can come in handy in response to an event that could otherwise be financially devastating.

Basically an umbrella policy can help protect your hard-earned assets. The cost is minimal considering the peace of mind it may offer you to know you are protected. After all, an umbrella is the kind of thing you always have ready even if you only use it on rainy days.

An umbrella policy is additional liability coverage. It protects your assets in the case of a large claim where the limits of your liability coverage on your home or auto policy would be exceeded.

What does an umbrella cover?

• Bodily injury to others
• Property damage
• Other kinds of legal damage (Libel, slander, etc.)
• Legal fees

Although umbrella insurance protects you against most types of lawsuits, there are certain kinds that many policies specifically exclude such as malpractice, workers compensation or business related claims, or intentional damage.

Why should you purchase an umbrella?

• Do you own a home?
• Have a retirement account?
• Have more in assets than you have in liability coverage on your home or auto policy?

Then you should purchase an umbrella policy.  All it takes is one bad claim – get protected before that happens.

Give your Aitken and Ormond Agent a call to find out more about adding an umbrella policy today.

Spring may be the traditional time of year for cleaning out closets and drawers and organizing the basement or garage. It is also a great time for a review of your insurance coverages.

As your life changes so do your insurance needs. Instead of just dusting around the corners of your insurance policies this year, take the time to read them over and ask yourself a few questions:

Is my home fully covered?

Review your policy to make sure that you have enough insurance to rebuild your home. If you have made major improvements to your home by adding a new room, enclosing a porch or expanding a kitchen or bathroom it’s possible your home may be underinsured. Be sure to contact your Agent and adjust your homeowners insurance coverage limits.

Do I have enough coverage for expensive items?

Have you bought or received a gift of valuable jewelry since you purchased/renewed your policy? When was the last time you had the items you owned appraised? Standard homeowners insurance has dollar limits for the theft of certain types of expensive items like jewelry, furs and silverware. This means that the company will only pay the amount specified in the policy. To insure these items to their full dollar value, consider a personal property endorsement.

The best way to keep track of your belongings to make sure they are adequately insured is to create a home inventory.

Do I have enough liability insurance to fully protect my assets?

Standard homeowners and auto policies have liability coverage paying for judgments against you and your legal fees up to a limit set in the policy. However, you may want to have additional protection—that’s what an umbrella liability policy provides. An umbrella policy kicks in when you reach the limit on the underlying liability coverage in a homeowners, renters, condo or auto policy. If your assets have increased lately, you’ll have more to lose and may want to consider this extra layer of protection.

Most importantly whether its winter, spring, summer or fall, plan a regular talk with your insurance professional here at Aitken & Ormond so they can help you get the coverage you need.

If you’re in the market for a new car, you’ve probably already considered things such as styling, comfort, features and fuel economy. But if you haven’t considered auto insurance costs, you could be missing a big part of your vehicle’s total ownership costs.

When it comes to specific types of cars, there are a variety of factors that determine how much you’ll pay for car insurance.

Sizing up insurance costs

Statistics prove smaller, sportier cars are driven at higher rates of speed by younger, riskier drivers. Because they’re involved in more accidents, they’re more expensive to insure.

By that rationale, it stands to reason that larger vehicles such as SUVs would be less expensive to insure. However, a large SUV could drive up the cost of your liability premium — the premium that covers damage to other vehicles involved in accident — because of its potential to cause a greater amount of damage on other cars.

If you’re looking to find lower auto insurance pricing, consider cars in the midsize category, such as sedans, midsize SUVs or minivans.

High-end cars, higher premiums

As a general rule, more expensive cars cost more to insure because of the increased costs associated with repairing them, replacing parts — especially on foreign brands — or replacing the vehicle in the event of a total loss.

Big motors, bigger rates

Horsepower can directly impact the cost of your insurance. The more horsepower your vehicle has, the likelier you are to drive at faster speeds and as such, the higher the risk of an accident. Varying engine sizes, even among the same makes and models, can bring differences in insurance premiums.

If you’re looking to save money on car insurance, opt for vehicles with less horsepower when you can.

Theft increases costs

It’s bad enough cars are stolen, but to add insult to injury, vehicles that are common targets among thieves usually carry higher insurance premiums than cars that aren’t. According to the Insurance Information Institute, roughly one third of a typical comprehensive auto insurance premium goes to pay for auto theft claims.

Thieves target certain cars over others for a variety of reasons, including the vehicle’s overall desirability and the demand for its parts.

Higher insurance for sports cars

Thinking of buying a sports car? Be prepared to pay higher insurance premiums. Insurance companies know owners of sports cars go faster than the general driving population and as such, they’re at risk of having accidents more frequently — and more seriously — than drivers of minivans, for example. What’s more, sports cars are more likely to be stolen, especially those with convertible soft tops that offer easier entry.

In the eyes of insurers, sports cars are risky and with increased risk comes increased premiums.

Your age and your driving record

While this article discusses how specific types of vehicles influence insurance premiums, three non-vehicle-related factors can have a significant impact on how auto insurance companies set the price of your policy.

First, insurance for younger drivers is almost always more expensive than it is for older drivers. In the eyes of insurers, driving experience means a lot.

What’s more, if you’ve had accidents in the past, you’ll inevitably pay more for car insurance than drivers who haven’t, regardless of the type of car you drive. Many insurance companies put extra emphasis on driving records compared with factors such as MSRP or engine size, simply because people who have accident histories are considered a greater risk.

Where you live counts

Finally, your residence also plays a part in how much your insurance will cost. People living in urban areas where theft and accidents are more likely to occur will usually pay more in car insurance premiums than people who live in the suburbs or rural areas. Where you live also impacts your driving patterns. Commuting long distances to work, for example, puts your car on the road more often and for longer periods, increasing your chances of an accident.

It’s a good idea to do your homework before you buy your next vehicle. This process includes reviewing what kind of insurance policies are available and what your provider — potential or current — can offer you in the form of an auto insurance quote.

Keep in mind that when it comes to calculating your premium, automobile insurance providers look at the entire picture, including your age, your driving record and your residence, along with the size, price, horsepower, safety and theft probability of the car you drive. You can research information about your vehicle online or talk to your Aitken & Ormond agent to determine the costs of adding the vehicle to your policy.

Caring for your home goes beyond weekends spent at Home Depot and do-it-yourself painting and landscaping. The most important way to care for your home is by investing in homeowners insurance, which will safeguard damage to the property and your financial well-being.

Homeowners insurance is standard practice, and no one wants to be caught without coverage in the event of fire, theft or really anything more significant than minor property damage. All homeowners insurance policies are comprehensive agreements with dozens of categories and subcategories of coverage that cater to your specific needs.

Yes, there’s plenty of fine print, and you should read it all, but there are some essential terms that you need to understand when evaluating your policy. Here are some terms you need to be aware of as a homeowner.

Deductible

This is where you come in. The deductible is the way policyholders and insurers share the cost of coverage. It is the amount a homeowner must pay before any insurance claims or reimbursements can be made. Usually, a higher deductible means the homeowner pays lower monthly premiums, but will have higher out-of-pocket responsibility in the case of a claim.

Liability insurance

Your homeowner’s insurance policy will likely have a liability portion that protects you and your family from legal claims that result from injuries that occur on your property. Liability also covers the medical costs and compensation for these damages, as well as the legal fees for your defense.

Umbrella policy

An umbrella policy provides extra liability coverage, an added layer of protection to your standard policy, to protect against lawsuits stemming from damages to other people’s property or accidental injury. Umbrella policies go above and beyond the liability portion of most policies and can add to peace of mind.

Dwelling protection

This covers the nuts and bolts of the home, or dwelling, and all the components that are actually attached, from carpeting and fireplaces to attached garages, decks and porches. Under dwelling protection, the policy may help to pay to repair or rebuild structures damaged by any covered hazard, such as fire and severe storms. There is also additional, optional, enhanced dwelling protection that can be purchased to ensure that most rebuilding costs are covered.  Pro tip: Smart devices such as home security systems, video doorbells and carbon monoxide detectors can save you on insurance premiums annually.

Other structures protection

This portion of coverage applies to all other structures on your property, such as fences, carports, sheds and other detached buildings. Other structures protection typically covers the cost of these structures up to 10 percent of the total protection of your dwelling coverage. For example, if your home is insured for $250,000, you’re covered up to $25,000 for other structures at no cost, but you can always purchase additional coverage at a relatively low cost, in most cases.

Actual cash value

This is the actual value of lost or damaged property at the time of loss and/or damage. This value takes depreciation into account.

Replacement Cost & Extended Replacement Cost

This is the cost of replacing damaged or lost property at the current market value, not taking into consideration depreciation, necessary to restore or replace your home or your belongings to their original state. Extended replacement cost adds to your standard policy coverage helping to account for increased market value of rebuilding. A good tip is to take inventory of your home value and belongings and record their value so you know exactly what may be lost to potential damage.

Additional living expense

Should something happen to your home that makes it uninhabitable while repairs are in progress, this coverage will pay for your temporary housing, which may be a hotel for a short time or an apartment or rental home for longer repairs, clothing, pet boarding and even baby supplies. Depending on your needs and the needs of your family, a daily allowance will be established.

Insurance adjuster

Not to be confused with an insurance agent (one who sells insurance), an adjuster is the person you call when the roof caves in, literally or figuratively. This is the person responsible for filing, assessing and ultimately paying out on your claim.

There are dozens of insider insurance terms and phrases that can make the whole process of purchasing insurance seem overwhelming. However, it’s worth spending the time to get to know some of the most important terms that make vital differences to the type of homeowners insurance you will need.

As always, contact your Aitken & Ormond Insurance Agent, we are here to help you understand your coverages and answer any questions you may have.

Winter in Michigan. It’s only a matter of time before you’ll need to address glass issues. This could include windshield calibration.

Automotive technology is constantly evolving and windshields are no exception. In fact, they are a vital component to the safety of your vehicle. That means fixing and replacing them is a more complex process than it once was.

These days, newer model vehicles have advanced driver assistance systems (ADAS). This involves other pieces of equipment that work in conjunction with your windshield.

Cameras, sensors, and additional mounted items can affect how your car functions and must be adjusted (i.e. “calibrated”) whenever your windshield is replaced.

What is a Windshield Calibration?

So, you’re wondering what is calibrating a windshield and how it’s a requirement for replacement. As advanced driver assistance systems (ADAS) have made cars safer over the years, they must be maintained to work efficiently. Features like lane departure warnings and forward collision detection are complicated and delicate technologies.

In order to function safely, an ADAS system relies on sensors, cameras, and other equipment mounted to a car’s windshield. Calibration is a method of adjusting a system and realigning all of the parts.

When a windshield is replaced, the ADAS-related equipment (like cameras and sensors) is removed and then re-attached. A change of just one degree in a camera angle can have a large impact on the vehicle’s viewing area.

The calibration process will adjust and test all of the cameras and sensors on the windshield. This is to ensure everything is functioning properly after windshield replacement.

Does my Windshield need Calibration?

The simple answer is that any modern vehicle with an advanced driver assistance system will require windshield calibration at some point.

Here is a list of the most common ADAS and driver’s assistance features you should know of when you call to schedule a windshield replacement:

• Rain sensing wipers
• Automatic headlights
• Heads-ups displays
• Shade band
• Forward collision alert
• Lane departure warning
• Lane keep assistance (LKA)
• Adaptive cruise control (ACC)
• Collision Mitigation Braking System
• Traffic sign recognition (TSR)
• Pedestrian detection (PD)
• Blind-spot monitoring

If you’re unsure of what type of ADAS features your car carries, contact your dealership or the auto shop that currently services your car. You can also check out your vehicle manual.

In general, the calibration process takes about 30 to 45 minutes and done at the same time as your window replacement. Contact your Aitken & Ormond Agent if you have any questions about glass replacement coverage on your policy.

Love may be priceless, but traditional Valentine Day gifts can be expensive and should have financial protection with the proper insurance coverage.

While there is no way to insure the sentimental value of jewelry or other gifts, having them properly covered will at least provide financial protection in the event it is lost or stolen.

Contact your insurance agent immediately

Let your agent know that you are now in possession of an expensive piece of jewelry or other costly items. Your agent can help you figure out how much coverage you already have and whether you need additional insurance.

Have the item appraised

Heirlooms and items that were purchased several years ago will need to be appraised for their dollar value. It is important that expensive items be appraised properly. If you add a floater or endorsement to your policy for the item, your premium will be based on the appraised value and, in the event of a claim, you will be compensated accordingly.

Keep a copy of the store receipt

Forward a copy of the receipt to your Agent or carrier so that the company knows the current retail value of the item. Keep a copy for yourself and include it with your home inventory.

Store valuables in a secure location

Protect your jewelry by storing it in a secure location in your home. If you do not plan to wear the item regularly or are holding it for a child, consider keeping it in a safe deposit box. You may save money on the cost of insuring it as some companies offer “in vault” coverage. If you want to wear the jewelry for a special occasion, many insurers will offer the option of purchasing additional coverage for the time it is out of the bank; you should, of course, notify your Agent or carrier ahead of time if you plan to do this.

Update the value of your valuables

Expensive items can go up or go down in value. Talk to your Agent about how to make sure the dollar amount of your floater or endorsement for your item reflects these changes.

Take a picture of the item

Get into the habit of keeping a visual record of all of your personal possessions. This helps to document your loss and can speed up the claims process. It is also useful when documenting antique and unusual pieces of jewelry.

Add the item to your home inventory

Everyone should have an up-to-date inventory of their personal possessions, including valuables. This can help you purchase the correct amount of insurance. It will also make the claims process easier if you suffer a loss. Contact your Aitken & Ormond Insurance agent if you have questions about adding your special Valentine’s gift to your policy, we are here for you.