Insurance Questions for A Long Hot Summer

Summer can be so much fun – but it can be risky business too! Along with the heat, this season brings myriad activities and purchases that ought to have their protection. But they don’t – so you’re going to have to figure that part out.

Luckily, there’s this post to guide you on some risks, a kind of summer special.

Is Your Home or Office Flood-Proof?

June 1st was the official start to the 2021 Atlantic Hurricane Season. These can affect you whether you’re at work or on vacation. According to Farmers®, hurricane claims usually increase by 60% between June and August. Since there’s no single policy that specifically covers hurricanes – people must get insured against the main two sources of damage brought by hurricane weather – water and wind. That’s why there’s an increase in flooding and wind claims during this period.

Are You Protected Against a Cyber Attack?

More people are staying indoors this year than in years past. As it happens, this has led to an increase in cybersecurity concerns. Hacks can be expensive and damaging for anyone. Personal data such as your social security number can be stolen, as can your credit card details. Ransomware could hold your small business systems to, well ransom. That can leave your savings account wiped out or even enable people to steal your identity. If corporate data is stolen, your company can be wiped clean too. That’s why cybercrime insurance can help keep you safe. It will offer compensation for the expenses, legal costs, and fees that arise due to cyber breaches. These also usually cover the loss or theft of the client or employee’s information.

Is Your Teenager Safe on The Road?

There’s a possibility that more teenagers will be on the road, driving since many malls and parks will be less attended due to lingering concerns about the coronavirus. According to AAA, 72% of teenaged drivers aged 16-18 admitted to having recently engaged in at least one of the following risky driving behavior:

  • Driving 10 mph over the speed limit on a residential street (47%)
  • Driving 15 mph over the speed limit on a freeway (40%)
  • Texting (35%)
  • Running a red-light (32%)
  • Driving aggressively (31%)
  • Driving when sleepy (25%)
  • Driving without a seatbelt (17%)

This means you need to ensure the safety of your traveling teen as well as spare a thought for that family wagon or hand-me-down car under teen control. While there’s no invention that can control teen behavior, insurance can help address physical damage in both spaces.

Are You Safe on The Road?

In general, it would be wise to get car insurance during the summer – for many reasons. In case you’re planning a summer holiday and traveling by road, ensure you get liability insurance for lawsuits, personal accident insurance for medical needs, and personal effects coverage in case of robbery. These can be found at the rental car’s desk. Your auto policy and credit card agreement may also have car rental coverage. If you’re crossing the border to go to Canada or Mexico, find out whether you need proof of coverage. An important question to ask is this: in case of a car accident in your rental, will you have to pay for the repairs upfront and then wait to be reimbursed or will your insurer cover these costs straight away?

What About Your Antiques?

Summer is when several people take their antique and classic cars out on the road to show them off at club events, parades, etc. Remember that these need to be separately insured from your regular car. That’s because they have more limited use, but higher value since collector’s items become more valuable as they age. Some insurers offer an agreed-value, others offer stated-value policies. See if your insurers have the ability to find rare parts or mechanics who can handle the damage. Also ask if you can send the car to another state, to your choice of mechanic. Owners of collector’s cars can also take a liability coverage, in case their cars have small windows, lack mirrors, or are difficult to drive in general.

It’s Not Just Cars

Other vehicles should get covered, too. Motorcycle owners may get a ‘lay-up’ policy up North. Generally speaking, motorcyclists should have liability coverage for property damage and bodily injury that they may cause to other people in an accident. Your insurance premiums are affected by whether you’ve had an accident, where you ride, and how you store the bike. Bikers can avail of discounts if they’ve taken a course on safe-riding, are a part of a motorcycle organization, or if they own more than one bike.

There are also coverage plans for boats, canoes, watercraft, and other sea vehicles. These usually pay out if your boat is damaged, accidentally lost, or if you cause injury or harm to others. They also cover legal costs incurred if someone else takes your boat out for a joyride without your permission.

That Vacation House Needs to Be Insured, Too

If you’re renting out your vacation house, it’s best to get it insured. You can get it covered under a homeowner’s policy. Some companies require additional coverage or a renter’s insurance policy. For long-term rentals, you may need a landlord or rental-dwelling policy, which is a bit more expensive than the standard. But these provide extra protection against damage and liability. If you’re renting someone else’s home for the summer, ask your agent whether your homeowner’s policy covers any theft or damage over there. Some online portals offer insurance as a part of the package.

Keep this checklist in mind this summer and you’ll have a good time in the sun. If you’re curious about what you need to get covered, reach out to us and let’s have a discussion. And do stay safe!