Your center for insurance and risk management tips, news and trends.

What You Need to Know About Policy Riders or Endorsements

Posted by Parker Beauchamp on Mar 07, 2017

Riders or endorsements are legally-binding attachments to insurance policies that remove, modify or extend insurance coverage elements. They may be attached to life, health, disability, homeowners and automobile insurance policies.

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Topics: Personal Insurance

Holiday Hazards: Tips on How to Prevent House Fires

Posted by Parker Beauchamp on Dec 28, 2016

This is the second post in a two-part series on winter home fire safety.The content has been updated to include up-to-date facts and information. For more information, read our first post, "Heating Hazards: Tips to Prevent Winter House Fires." 

As we head into the holiday season, new decorations and holiday schlock are likely to adorn your home. From Christmas trees and menorahs, to holiday lights and wood burning fires, it’s important to consider the safety of your loved ones and possessions when bringing these seasonal items into your home.To help you stay safe and enjoy seasonal delights, below are three common holiday hazards and tips on how to prevent home fires associated with each.

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Topics: Personal Insurance

Heating Hazards: Tips to Prevent Winter House Fires

Posted by Parker Beauchamp on Dec 21, 2016

This is the first post in a two-part series on winter home fire safety. The content has been updated to include up-to-date facts and information.

When the winter chill sets in, some residents choose to supplement home furnaces and radiators with additional heating devices, such as space heaters, or create a cozy ambiance with candles or wood-burning fires. But safety should be top of mind when using these devices, since they pose a risk as potential fire hazards

Fires caused by heating equipment accounted for 16% of all reported home fires from 2009-2013, the second highest after cooking fires, according to the National Fire Protection Association (NFPA) report released in March 2016, Home Fires Involving Heating Equipment. During this timeframe, heating equipment caused an estimated 56,000 reported home structure fires, 470 civilian deaths and 1,490 civilians injuries. This has resulted in $1 billion in property damage in the U.S.

Keep your family and home safe this winter season by practicing the utmost caution when using home heating equipment. Below are three high-risk heating sources and ways to prevent fires in your home.

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Topics: Personal Insurance

3 Ways to Build a Truly Customer-Centric Insurance Experience Using Technology

Posted by Parker Beauchamp on Oct 26, 2016

When life gives you lemons, make lemonade. That’s the idea behind the aptly named Lemonade, a next-generation insurance startup. The company, which opened for business in New York in September 2016, aims to turn the sour insurance purchase and claims process into a “delightful” experience for consumers through smart technology and design.

It’s too early to tell if the company’s ambitions will become reality, but one thing is certain: competitors to traditional insurance, like Lemonade, are thriving because the industry desperately needs to reinvent the consumer experience with technology. For instance, Lemonade is partly revolutionary because it allows users to buy renters coverage instantly from any mobile device, functionality shockingly absent from the insurance process in 2016.

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Topics: Personal Insurance, Insurance News & Trends

Liar, Liar Pants on Fire: Why You Shouldn’t Fib on Insurance Forms

Posted by Parker Beauchamp on Oct 13, 2016

It may come as a surprise, but a recent survey found that 51% of auto insurance applicants don't tell the truth, and it doesn’t stop there. Consumers lie on all different types of insurance forms, from auto, to life to homeowners insurance.

So why do people lie in the first place?

Individuals often lie or stretch the truth on their insurance forms to lessen backlash from damaging events, such as accidents, stolen items, health incidents, etc. What people may not realize though is that these lies can set you back even further. Depending on the severity of the lie, it could even be classified as insurance fraud instead of a simple slap on the wrist.

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Topics: Personal Insurance