Bush Thompson Ins|

Need for Renters Insurance

If you do not own the place where you live, you need renters insurance. Renters insurance is like homeowners insurance – only it is for renters. This insurance will help you replace items that are damaged or stolen. The liability insurance included in the policy will help protect your assets and savings. Up to a […]

HOME MARKET VALUE vs. REPLACEMENT COST

Over the past few years, home prices have fallen significantly from their peak in the mid-2000s.  So why haven’t home insurance premiums lowered also?  You would think declining property values would be matched with a similar decline in the cost of what you pay for insurance.  The fact is, the market value of your home […]

BEING PREPARED FOR THE STORM

Hurricanes, tornadoes, and other high wind storms are among the most destructive natural disasters that affect the United States on a regular basis. In recent years, some of these storms have caused record losses. The National Weather Service and the National Oceanic & Atmospheric Administration (NOAA) recommend families to have a disaster plan, including hurricane […]

WHAT TO DO AFTER AN ACCIDENT

BE PREPARED – Although you may be lucky enough to never be involved in an automobile accident, having a small “accident kit” ready in advance can help alleviate some of the stress you are likely to have if you are. Here is a list of items to consider keeping in your kit: • A pen […]

Sinkhole vs. Catastrophic Ground Cover Collapse

Sinkhole vs. Catastrophic Ground Cover Collapse Recent legislation (the first 2007 special legislative session) changed the landscape of insurance relating to sinkhole coverage for property policies of admitted carriers. Before looking at the changes though, it’s important to take a quick look back in history to see “how it used to be.” Prior to the […]

FEMA FLOOD ZONE DESIGNATIONS & EXPLANATIONS

  FEMA FLOOD ZONE DESIGNATIONS & EXPLANATIONS Annual Probability of Flooding of 1% or greater A Subject to 100-year flood. Base flood elevation undetermined. AE or A1-A30 Both AE and A1-A30 represent areas subject to 100-year flood with base flood elevation determined. AH Subject to 100-year shallow flooding (usually areas of poundings) with average depth […]

COMMON BUSINESS INSURANCE TERMS

ACTUAL CASH VALUE (ACV):  A method of determining value for a loss by taking its replacement value less depreciation.  The term also refers to a type of policy that pays its claims in this fashion. ADDITIONAL INSURED:  A person or entity added to a business policy for purposes of coverage.  This may be a temporary […]

Saying “I do” Changes Everything

My daughter, Leslie, recently married a nice young man named Clifton. (I call him “Chester,” but that story is for another day!) I had the honor and thrill to walk Leslie down the aisle and when I did that I wore the same U.S. Army Dress Blue uniform that I wore 32 years ago when […]

Gap Coverage

One of the most memorable days for a vehicle owner is the day they acquire a brand new vehicle. Unfortunately, when a total loss to that vehicle happens it’s often not one of the greatest days, but a day filled with problems, namely a lack of funds to cover the loss. Many vehicle owners face […]

Leased Vehicles -Liability Limits Required

When someone leases a vehicle from a company such as Ford Motor Credit or GMAC, the leasing company (lessor) generally requires the person leasing the vehicle (lessee) to maintain higher limits of liability coverage. If certain limits of liability are maintained by the lessee then the leasing company is not considered to be the owner […]