Important Changes Your Insurance Company Should Know About

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From starting a business at home to changing your roof, there are specific changes that you should definitely share with your insurance company. In so doing, you will receive the appropriate home insurance coverage, which will affect your rate. Your risk level could be affected by the changes you make to your home and that is one of the main reasons for having your current policy reexamined by an insurer like Smith Insurance Agency of West Virginia in Kingwood, WV.

Reporting Changes

If you fail to share those changes with your insurer, then it could result in denied claims, which you may subsequently file. It could also lead to a canceled policy later on. Therefore, it is always ideal to choose full disclosure. If you plan to make changes in the home, or you have made changes and you haven’t shared this information with your insurer, you should contact them right away. What kind of changes are we talking about?

The changes below could affect your policy:

  • Going on extended vacations
  • Obtaining a hot tub or installing a pool
  • Making a significant purchase to install in the home such as collectibles, expensive jewelry, or fine artwork
  • Installing a new water heater or heating system
  • Paying off your mortgage in full
  • Changing your marital status from single to married
  • Starting a business in your home

Roof Replacement

The first major change to report is doing a roof overall. At any point in time, your roof can suffer damages due to mold, leaks in the ceiling, and sometimes, structural damages in other areas of the home. It is recommended that you get the roof inspected regularly and replaced when it is necessary. This would reduce the risk of having to make certain insurance claims and filing fewer claims could greatly reduce your monthly premium.

Major Renovation

If you plan to undergo any type of major renovation in the home such as replacing carpets and painting the walls, it might not have any impact on your premium nor will it compromise your insurance coverage. However, if you plan to move out of the home while it is undergoing renovations, you could see special changes to your coverage. You need to speak to the insurance company providing coverage so you know about these potential changes to the policy ahead of time.

Partial Renting of the Home

If you plan to rent a part of the home; whether it is short-term or long-term, you should report this to the insurer. It is possible that you would have to modify your existing policy or consider obtaining a landlord policy so you are fully protected. Smith Insurance Agency of West Virginia in Kingwood, WV can provide answers to your questions and concerns.

Why You Need Renters’ Insurance

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If you live in a rental of any kind, it’s vital that you get renters’ insurance to help protect you and your belongings. If you’re in a new rental and need renters’ insurance, call us at Smith Insurance Agency of West Virginia in Kingwood, WV for an appointment with an agent.

Your Renters’ Coverage

There are several different parts to a renters’ insurance policy. The one that is perhaps most important is the coverage for all of your possessions. With a renters’ policy, your belongings are covered should they become damaged or destroyed by a calamity or other incident. It’s a good idea to document all of your belongings so that you can prove ownership of the items that need to be covered. 

Liability

Another factor in these insurance policies is your liability. A renters’ insurance policy comes with an amount of liability insurance to cover you against accidents and illnesses happening in your home. When a third party gets injured, or becomes sick, in your home, it’s possible for you to be at fault, and this spells expensive lawsuits. Your liability coverage can cover everything from a settlement to legal expenses. 

Cost of Living

Another important part of renters’ insurance is paying for your living expenses if your home becomes destroyed or uninhabitable. Living expenses being paid will allow you to continue your lifestyle after a catastrophe. 

Meeting With an Agent

If you are renting a new place and need renters’ insurance, or you think you may need more insurance than your current policy, contacts us at Smith Insurance Agency of West Virginia in Kingwood, WV to make your appointment. An insurance agent can answer all of your questions and let you know how much you actually need to be insured. 

Who should carry umbrella insurance

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West Virginia has a wide variety of weather, it isn’t always sunny. When the weather is stormy an umbrella can be very helpful. In insurance terms. umbrella insurance is a lot like a real umbrella with the protection that it offers. An umbrella keeps the rain off your head and umbrella insurance keeps bad things from happening to your assets. Smith Insurance Agency of West Virginia in Kingwood, WV has been serving residents for more than 50 years with dedicated customer service. 

Most people are not very knowledgeable about umbrella insurance, it is one of the most misunderstood types of insurance. For you to buy an umbrella policy, you must already have a primary policy that includes liability coverage. An umbrella policy is an additional layer of liability insurance. It can be added to a home, auto, commercial, condo, or renters policy among others. You may wonder why you would need that much liability insurance. 

When was the last time you looked at the liability limit on your insurance policies? Probably never. This can be very dangerous to your finances. We live in a world where getting sued is a real possibility. If you are found at fault, you could have a very sizable judgment against you. The legal expenses can also be high. With an umbrella policy, after your primary insurance policy reaches its limit, the umbrella will kick in and pay up to its limit. Most umbrella policies are between two and five million dollars. 

At Smith Insurance Agency of West Virginia in Kingwood, WV we know that you have worked very hard to get where you are, and protecting your assets is a major concern. We want to talk to you about your umbrella insurance needs. Stop by our office or give us a call for a no-obligation quote. 

5 Reasons to Purchase Flood Insurance

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If you’re like many homeowners in the Kingwood, WV area, you’re probably wondering if flood insurance is really a need, especially if you don’t live in a high-risk flood zone. The truth is that flooding can occur almost anywhere. Without flood coverage, you risk losing your home. At Smith Insurance Agency of West Virginia, we want you to make smart insurance choices. Here are a few reasons why we believe you should seriously consider flood coverage.

Saves You from Financial Ruin

Flooding can totally devastate a home, not to mention ruin everything inside. Without insurance coverage, you could suffer substantial financial loss. With flood insurance, you’ll have the financial help you need to recuperate from flood loss.

Home Insurance Doesn’t Cover Flooding

Home insurance does NOT cover flood damage, putting you at risk of having to pay for damage on your own. Unless you have the financial means to recover from a flood, it only makes sense to protect your home with flood insurance.

Floods Can Occur Anywhere

Floods aren’t restricted to high-risk flood zones. Floods can and have occurred in both low and moderate risk areas, putting almost all homeowners in Kingwood WV at risk of flood damage. That’s why it’s so important to be prepared with flood coverage.

Flood Coverage is Affordable for People Who Don’t Live in Flood Zones  

Flood insurance is affordable if you don’t live in a flood zone, giving you no reason not to protect your home with flood coverage.

Peace of Mind

Flood insurance will give you peace of mind that you’re protected from potential flood disasters. Taking into consideration the devastation that flooding can cause, that alone is worth the cost.

For more information about flood insurance coverage and costs, contact Smith Insurance Agency of West Virginia.

Who needs a Kingwood commercial insurance policy?

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Starting a company in any area of the country can be a very exciting time. When you are looking for a place to start your new organization, you should consider Kingwood, WV. This area of West Virginia offers many amenities to small business owners in the area. If you are going to start a business here, it is important that you properly protect it with insurance. There are many situations when a business owner here will need to get a commercial insurance policy. 

Anyone that Has Insurance Requirements

One situation when you will need to have a commercial insurance policy is when you have insurance requirements. There are many situations when a business owner will be required to carry insurance. Some of the most common situations when you will need to have coverage is if you take out a business loan, lease space from a commercial landlord, or have savvy investors. It is important to understand and follow these insurance requirements.

Those that Want Protection

Even if you do not need to carry insurance, you should still get a commercial insurance policy if you want to protect your business. A commercial insurance policy can protect your business in several different ways. With commercial insurance, a business will receive protection for their assets and also receive commercial liability coverage. 

When you are shopping for commercial insurance in the Kingwood, WV area, it would be a good idea for you to speak with the team at Smith Insurance Agency of West Virginia. When you call the insurance team at Smith Insurance Agency of West Virginia, you can learn more about the options that are at your disposal. This will help to ensure that you are able to pick an insurance policy that adequately protects your organization. 

Does Auto Insurance Cover Hail?

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If you carry full coverage in Kingwood, WV, your auto insurance should cover hail damage. The confusion seems to arise from the fact that not everybody carries full coverage.

Basic "full coverage" breaks down into three categories:

  • Liability – This is the insurance that you are required by law to carry. Liability helps to pay the costs if you are held responsible for someone else’s injuries or property damages. But, liability does not cover you or your car. That’s what comprehensive and collision are for.
  • Collision – This will help to pay for your damages if you are in an accident and the other party’s insurance does not pay for it. But it doesn’t cover anything besides a collision. That means that vandalism, a tree falling on your car, and of course, hail, are not included here.
  • Comprehensive – This is the coverage you want if you want to make sure that you are covered against hail and other damages where you can’t say that anyone is at fault.

These three policies together make up "full coverage," but not total coverage. Total coverage means that you’re protected essentially no matter what, and that’s going to include gap insurance so that your insurer can pay the rest of your payments off for you, and replacement or better replacement insurance, so that you can get behind the wheel of a new car right away.

If you’re looking to get covered in Kingwood, WV, call Smith Insurance Agency of West Virginia, email us, or visit us at the Smith Insurance Agency of West Virginia offices to see what we can do for you.

Protecting Your Investment with Home Insurance

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Your home is a significant financial investment. Protecting it with the right insurance is a safeguard should anything happen. If there is a fire or severe weather, your policy helps you to recover more quickly. It provides more benefits than that, though. At Smith Insurance Agency of West Virginia, our team works with homeowners throughout the Kingwood, WV area to protect their homes. 

Your homeowner’s insurance provides an array of benefits to protect your greatest asset, your home. The policy covers all of your possessions inside of the house, including artwork, furniture, and electronics. It even protects items that are damaged or stolen while away from home. For example, if your laptop is stolen while you are at the library or café, it is still covered. The liability coverage protects you if someone is injured on your property due to your negligence. For instance, if someone trips and is injured, the policy will cover their medical expenses. If they sue, it will also take care of their legal costs. 

Your home insurance policy protects more than your house. It also covers all structures on your property. This includes outbuildings, fences, and gazebos. While this is a high level of protection for homeowners, there is one thing that a home policy will not cover. Home policies never cover water damage from a flood event. It will, however, cover water damage from a faulty water heater or broken pipe. If your home is located in an area at moderate or high risk for flooding, it’s important to talk with your agent about adding flood insurance to your policy. Even in areas with a lower risk for flooding, some homeowners opt for additional coverage. This is because 20% of flood claims come from low-risk areas. 

Our agents at Smith Insurance Agency of West Virginia can help you understand your home insurance options. In the Kingwood, WV area, we are known for our quality service. Contact our office for information and have your questions answered! Our knowledgeable agents are ready to help you protect your investment in your home.

When is renters insurance a good idea for someone in West Virginia?

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Anyone that is in the Morgantown or Kingwood, WV area needs to make sure that they are adequately covered by insurance. When you are looking to move into a new rental property, one form of insurance coverage to get is renters insurance. There are several reasons why getting renters insurance is so important. 

When Looking to Protect Personal Assets

One situation when you should get a renters insurance policy is when you want to protect your personal assets. When you get this insurance coverage, it will provide you with coverage to replace your clothing, furniture, electronics, and other personal belongings if they were to get damaged during a fire or other form of damage. This could prove to be very beneficial in a variety of situations where you incur a loss.

Required by Lease

Another situation when you should get this form of insurance coverage is when your lease requires it. In many situations, a landlord in West Virginia will want to make sure that you have renters insurance. If you are required to have this per the terms of your lease, it is vital to stay adequately covered. If you do not have coverage, it could put you into violation and even default the agreement. 

Many advantages come when you acquire renters’ insurance. Since some complexities come with obtaining this form of insurance, contacting Smith Insurance Agency of West Virginia is a good idea for anyone in the Kingwood, WV area. When you contact Smith Insurance Agency of West Virginia, you will learn a lot more about how it can protect you. Based on this assessment, the team can also help you to pick a policy that provides you with the right coverage. 

3 Reasons to Add an Umbrella Insurance Policy

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If you live in or around the Kingwood, WV area, and you want to add to your level of protection and peace of mind, it may be time to consider an umbrella policy. At Smith Insurance Agency of West Virginia, we can help you find the policy that’s going to work for your needs and situation. You don’t have to settle for a policy that doesn’t give you enough coverage, or that leaves you worried about your level of protection. Instead, you can work with our trusted agents on a policy that’s right for you. Then you won’t need to worry about coverage limits any longer. Here are three of the main reasons you might want to add umbrella insurance to your coverage.

  1. You want to make sure you have adequate coverage that goes above and beyond your current policy limits.
  2. You have special circumstances, such as a celebrity or public figure status, that could put you at risk for unusual situations.
  3. You have a high level of assets that need more protection than average policies allow for. 

When you know you need more coverage, or you simply want to be better protected, an umbrella insurance policy can be the right choice. At Smith Insurance Agency of West Virginia, we can help with that. Our knowledgeable agents will give you plenty of great information, so you can get the help and support you’re looking for. Being an informed consumer is very important, especially when it comes to insurance policies. We want all of our clients in and around the Kingwood, WV area to have the kind of coverage they want, need, and feel good about. Reach out to us today, and let us help you find the umbrella policy you’re looking for.

Is flood insurance required in West Virginia?

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The Kingwood, WV area can be a great place to live and own property. If you do own real estate in this area, it is vital that you get the insurance that you need for it. One form of coverage that you may need to get could be flood insurance. There are several situations when having flood insurance will be a requirement for you. 

When In a Flood Zone

The first situation when you could be required to carry flood insurance is if you are in a flood zone. People all over the state of West Virginia could live in an area that FEMA considers to be at risk for flood damage. If you are in one of these zones, your mortgage lender will often be required to force you to carry flood insurance. 

Association Requirements

Another situation when you could be required to carry flood insurance is if you are in an area that has a home association. Community associations across the country want to make sure that property owners can rebuild their homes if they are damaged. When you get flood insurance, it will reduce the risk that your home will be damaged without any ability to restore it. Due to this, many associations located in flood zones do require that their property owners carry flood insurance at all times.

For those that are in the Kingwood, WV area, and need to get flood insurance to meet their requirements, contacting the team at the Smith Insurance Agency of West Virginia is a necessity. When you speak with the team at Smith Insurance Agency of West Virginia, you will receive the guidance and support you need to choose a quality flood insurance policy. This will ensure that your home is adequately covered against this risk. Contact our office for more information.