Personal Insurance

Hurricane Coverage: The Answers You Are Going To Need

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Meteorologists have projected that this hurricane season will have average to above average activity. That may not seem so bad at first, but it only takes one storm to cause damage, disruption, or devastation. With hurricane season here, it is the time to make sure that your home is properly protected. Here are some things to remember:

Call your agent! Every homeowner’s policy is different because no two homes are alike. Different policies include different coverages. It is best to call your agent to make sure what is covered and what is not.

Know that Wind and Hail coverage and Hurricane coverage are similar, but have their differences. Wind and Hail coverage will cover any type of storm with wind or hail. Hurricane coverage will only provide coverage for named storms or hurricanes. They also have different deductibles. Taylor Agency will automatically include wind and hail or hurricane coverage in your policy.

Don’t forget a flood policy! Hurricanes and named storms can bring heavy rains and flooding. Just last year, Hurricane Harvey hit the United States causing $125 billion in damage (National Hurricane Center) coming only second to Hurricane Katrina in costs. Flood policies are not included but must be added if you want protection. The standard FEMA flood policy requires a 30 day waiting period. Unfortunately, a flood policy cannot be bound if a named storm or hurricane has developed before or during the 30-day waiting period. Even if you are not in a flood zone, keep in mind that if it can rain, then it can flood.

Talk about deductibles! Prior to a named storm or hurricane making landfall, be sure to find out what kind of deductibles your policies have. Depending on the extent of the damage, it may end up being less expensive to make the repairs yourself rather than paying the deductible. In the event that you have damage, talk to your agent to see what the best plan of action is for you and your family.

Fun in the Sun: Pool and Grilling Safety

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The first day of summer, June 21, is swiftly approaching. The pool begins to beckon and the grills get fired up. With the weather promoting these activities, we decided to share some tips and guidelines to help you play safely!

 

The Pool Party

While pools can keep you cool during the summer and give the kids something to do, they also increase your liability risk. The first thing you should do when purchasing a house with a pool or making plans to install a pool is to talk with your insurance agent. Ask about an umbrella policy as an added layer of protection. To find out more information, call Taylor agency today to speak with

one of our agents.

Some safety tips for your pool are as follows:

  • Establish safety rules! Everyone sees the rules posted at a public pool. Why wouldn’t you post safety rules at home?
  • Educate yourself on swim safety. Learning rescue skills and CPR can be the difference between life and death someday.
  • Installing a fence can help prevent unwanted pool guests or deter moseying toddlers from entering the pool unsupervised.
  • Account for the weather. Just because the pool water is cool doesn’t always mean that it is safe to be outside. Stay hydrated and monitor the temperature when swimming. Don’t stay in the heat for too long to avoid heat stress.

 

The Cookout

Fire is responsible for some of the most severe damages to homes and other structures according to the Insurance Information Institute. In particular, grill fires are responsible for millions of dollars in damages, about 100 injuries, and around 10 deaths annually. Nearly 60% of grill fires occur during the summer months of May, June, July, and August with the leading cause being mechanical failure or malfunction. (U.S. Fire Administration).

Here are some safety measures you can take:

  • Maintain your grill! Checking for leaks, blockages, or other broken elements can help prevent malfunctioning equipment.
  • While using your grill, keeping it on a level surface and not moving it can help prevent the grill from tipping over and causing a fire.
  • Be sure that you have the proper tools on you or nearby. Wearing protective gear like mittens and an apron can help prevent burns while keeping a fire extinguisher nearby can assist in putting out an unwanted fire.
  • When you have finished with your grill, make sure that it has completely cooled before storing it away. See your specific grill instructions for proper storage.

As always, speak to your insurance agent about the coverage you have concerning pools and grills. After you have established safety measures and protective plans, enjoy your summer!

Homeowner’s Insurance: Six Points To Keep In Mind

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Owning a home brings lots of different joys and challenges. You can paint the walls the color that you want, but you also have to fix the stove when it breaks down. There are all kinds of things to figure out, but one important aspect to never leave unattended is your homeowner’s insurance. Each home is unique in its insurance needs and every homeowner’s policy is different. Talking to your agent about the specifics is the best way to find out more about your policy, but we’ve rounded up a few key points that can help you determine if you need more coverage.

Named Storms, Hurricanes, or Wind & Hail

Hurricane Season is upon us. With hurricane season quickly approaching, the time to check what kind of coverage you have is now! Once a storm is on its way it is too late to make any changes to your policy. Checking to see what kind of deductible you have on your policy is a good place to start. To be absolutely sure, it is best to call your agent to verify information and get any questions answered. Being proactive is the best way to protect your biggest asset: your home.

Earthquakes

According to seismologist Steve Jaume of College of Charleston, Charleston is the bulls-eye for earthquakes on the East Coast. Since earthquakes cannot be predicted, the only thing you can do is to be prepared for one.  Earthquake coverage is not included in a typical homeowners policy, but it can be added in order to protect your home. Many carriers offer earthquake policies that you can add to your homeowner’s policy. By calling your agent, you can find out your options to best protect your home in the event of an earthquake!

Keeping An Inventory

Losing the contents in your home after a peril (i.e. fire, named storm, theft, etc.) can be heartbreaking.  We always recommend taking video, pictures, or writing down an inventory of the items in your home.  While this is not a requirement for insurance, it will assist you in recouping your lost items.  Save this information to a disc or flash drive. Then, give it to a family member, or save it at work.  The little things are not missed until they are not there. Do what you can to take note of the things you enjoy in your home now before it is too late.

High-Value Items

Do you love to collect antiques?  Did your grandmother leave you a family heirloom? Does your husband love buying you beautiful jewelry? Coverage for high valued items can be limited in a homeowner’s policy.  The best way to protect these precious items is to schedule them separately on your home policy or on a separate policy.  Call us to make sure you have coverage for these items that not only hold a high value but also mean so much to you.

Dogs

Dog bites are one of the highest claims for homeowners.  If your current policy does not already include it, contact your agent to find out about adding dog or animal liability to your policy. It is inexpensive and worth having, if you have a furry friend in the family.

Home Improvements

Be sure to contact your agent if you are making any improvements to your home.  Improvements or additions to a home can affect rates and coverage. Home improvements can range from replacing plumbing or wiring, adding a pool or bedroom, or getting a new HVAC system. In any case, give your agent a call the next time you are ready to make any major updates to your home.

Why Choose An Independent Insurance Agency?

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If you are in the market for insurance, what do you look for in a policy? A lower premium? Sufficient coverage? Those are the obvious answers. But, how do you find these things? How many places do you go to find the best one? How do you know that you have selected the best option?

By going through Taylor Agency, you can have your cake and eat it too. You can trust that you are getting the best rates we can find from over 100 different carriers, adequate coverage that will protect your investments, and some of the best customer service around. Taylor Agency is an independent insurance agency. There are several reasons why an independent agency is your best choice, especially Taylor Agency, but we are here to name just a few.

The first thing that sets us apart as an independent agency is that we do the legwork for you. We find the quotes for you instead of you making all the phones calls, hunting down different rates, and entering your information into applications over and over again. Again, we are designated with over 100 different carriers, which means we have the access and the ability to find the best rates and the best coverage for you. We select from the best options and present them to you for you to decide. What if you are not sure what you should choose? Not to worry! Our team has many designations and decades of experience.

Here at Taylor Agency, we understand what kind of coverage you are looking for and what kind of coverage you need to be fully protected. We will be able to make sure that you fully understand what is covered, what it not, and what needs to be. Let us remove your worries and doubts by letting us share our educated and experienced advisement with you. Our staff is experienced and educated in both personal and commercial insurance. Through Taylor Agency, you can protect your home, your business, cars, jewelry, and much more.

The best part is that we have no allegiance to any one carrier, which means that YOU are our interest. Taylor Agency is not bound by one carrier or one policy. We are able to search for the best coverage at the best price for you. We will also re-evaluate coverage each year and present to you the most suitable options for the upcoming year.

We know you have worked hard for what you own. We understand that you are looking to protect your hard work. Let us work hard for you to give you the protection that you deserve. Call Taylor Agency today to get a quote!

Buying Your First Home

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Is your apartment too small? Are you ready to have a yard? Is it finally time to buy a home? Once you have made the exciting decision to buy a home, what do you do next? In reality, buying a home for the first time can be a daunting task. There are houses to be hunted and contracts to be signed. The to-do list might seem endless. Rest assured! Tons of people do it every day. In order to point you in the right direction, here are a few tips to help guide you as you begin looking for your first home:

 

Before you start shopping for a home…

  • Get pre-approved! This will help determine your budget for buying a home. Your lender will help you stay within a reasonable spending limit according to your debt to income ratio. Spend too little and you might miss out. Spend too much and you could end up losing your house. Keep in mind that pre-approval does not guarantee that you will be approved when the time comes to apply for a loan.
  • Beef up your savings! Hopefully, you already have a chunk of change in your savings account. Knowing your budget after getting pre-approved can help you determine what to do next. Keep in mind the following:
    • Down Payment – You need one! Most down payments are about 6% of the mortgage loan. There are assistance programs to help you with a down payment if you do not have enough. Your lender will be able to help you find your best options.
    • Closing Costs – Depending on if it is a buyer’s market or a seller’s market, you could end up paying all of the closings costs. This is not unusual. Do not be afraid to ask them to pay for the closing costs or even splitting the costs with you. Your real estate agent will be able to help you negotiate.
    • Other Expenses – Before you deplete your savings on a down payment and closing costs, keep in mind that you are about to become a homeowner. It is more expensive than renting since you are responsible for maintenance and repairs. You might need to have a budget for moving as well. Keep some cushion in your savings for things like this.
  • Determine your needs vs your wants in a home. What is necessary for you? Is it a good neighborhood near good schools? Is a new roof a must have? Do you want a big yard? Be flexible. Cosmetic items like appliances, paint, and light fixtures can always be changed later. DIY projects can end up giving you equity once you are ready to sell.

 

Starting the process…

  • Find a good realtor and a great lender. Don’t be afraid to shop around. You are finding your home for the next several years if not forever. Ask around. Shop around.
  • Look for a home that is congruent with your goals within the next five years. If you want to start a family, get a few extra bedrooms. If you want to build a garden, look for a bigger yard. Be careful not to get too far ahead though! Remember to stay within your budget.
  • Inspections and insurance
    • Never buy a house without an inspection! Things like bad electrical wiring or old plumbing can produce significant repair costs that you are not prepared to pay. An inspection can reveal expensive problems. Even though you will be paying for the inspection, it will be worth it in the long run.
    • Jessy Adams, one of our Personal Lines agents, recommends checking the flood zone in addition to the age of the roof and HVAC system. These are all factors that are considered by underwriters when qualifying for coverage and finding the best price for you.
    • When you find the house, call your insurance agent. Kim Taylor of Taylor Agency says, “Get your insurance agent involved early on in the home buying process. He or she may be able to make suggestions that could be helpful during the due diligence period.” You will also want plenty of time to make sure that you are getting appropriate coverage. Call Taylor Agency today to find the right coverage for you!

 

After you have made your purchase…

  • Change your address on all of your accounts to your new address– banks, credit cards, loans, Netflix, etc.
  • Transfer your utilities to the new place. Running water would be sorely missed after a long day of lifting heavy furniture.
  • Relax and enjoy your new home!

 

 

Crone, Emily Starbuck. “25 Tips for First Time Home Buyers.” NerdWallet, 29 Jan. 2018, www.nerdwallet.com/blog/mortgages/25-tips-for-first-time-home-buyers/.

Daniel Island Luxury Home Tour 2018

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Taylor Agency is an annual sponsor of Charleston Home + Design Magazine’s Daniel Island Luxury Home Tour. As the official tour ticket headquarters, our Daniel Island office personal lines agent, Michael Dew, helped guests pick up their tickets before the weekend show. With eight custom homes featured this year, the tour’s proceeds will benefit the East Cooper Habitat for Humanity.

“I had a great time hosting the Daniel Island Home Tour this past weekend. It was great opportunity to catch up with current clients, be involved with the community, and network with potential clients. If you would like me to review your insurance portfolio, please feel free to contact me! I would love the opportunity to review your accounts and make sure you and your family’s assets are protected.” – Michael Dew (04-2018)
 

Taylor Agency recognizes the unique needs of our high net worth clients, including multiple property portfolios, historic homes, waterfront properties, and beach homes. As your insurance advisor, we have access to the best markets in our region (like AIG, Chubb, and PURE). Each year, your annual reviews will be relationship-driven, comprehensive, and professionally tailored to leverage insurance as cost effective tool to strengthen your personal risk management portfolio.

In addition to insuring historic preservations, art collections, commissioned jewelry designs, and yachts, we provide many other coverage options for high value assets.

Schedule an insurance review with Michael today!