The most common liability coverage on a home The most common amount of liability coverage that we see homeowners carry when they come to The Choice Insurance Agency is $300,000. Limits offered by most insurance companies for a homeowners policy include $100,000, $300,000 and $500,000. So why do most agencies and clients default to $300,000? [...]
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On Friday, April 7, The Choice Insurance Agency team was proud to support the Walk a Mile in her Shoes to bring awareness to and end sexualized violence against women. The local event was produced by the Norfolk YWCA, whose mission is to end racism and empower women. As the website for the Walk a Mile in [...]
An Industry Secret I’m going to let you in on an insurance industry secret. Insurance companies are scared to insure property. Insurance companies might not openly admit this fact, but the industry really isn't crazy about insuring homes and other property. (Ever wondered why GEICO and Progressive doesn't have their own home insurance product?) You [...]
Hampton Roads is Hit by a Monster Twister Last week, Virginia Beach and Chesapeake were struck by a devastating tornado. While the twister struck on April 1, it was no joke. Dozens of homes were damaged and Real Life Church was destroyed. The tornado touchdown was a reminder that the mid-west is not the only [...]
Distracted Driving Kills According to the latest stats provided by The US Department of Transportation, 3,179 people were killed and 431,000 were injured in car accidents in 2014 as a result of distracted driving. It's truly an epidemic but you don't need statistics to make you aware of the problem. Whenever you are driving, all [...]
Prospect Pays $3.5 Million for Violating CFPB!!! The Consumer Protection Finance Bureau is not messing around. It was announced on January 30 that the CFPB fined Prospect Mortgage $3.5 Million for paying kickbacks to two real estate brokers. As quoted on nationalmortgagenews.com "Today's action sends a clear message that it is illegal to make or [...]
Over the past two decades, insurance companies have become increasingly creative with regards to wind deductibles. The trend began following Hurricane Andrew in 1992. At the time, Andrew was the most destructive Hurricane in United State History as measured by the amount of damage caused. In tandem with Andrew, increases in computing power provided insurance [...]
The insurance industry has failed. This is what industry failure looks like… and why it’s important to you. It’s a fact. According to The US Department of Health and Human Services, 70% of us who reach age 65 will need some form of long-term care at some point before we die. Twenty percent of those [...]
I’ll let you in on a secret… Let’s just keep this information between us, ok? Insurance companies have goals that are measured on a calendar year basis. Just like many other types of companies, their success is measured from January 1 through December 31st . Because insurance companies seek constant improvement and continuous growth, sometimes, [...]
Insurance is intended to protect you against events that would be financially devastating if you did not have coverage and it works by spreading significant these dramatic losses over large numbers of people. Your goal is to get the maximum amount of coverage on the high side while structuring your policies so that the coverage [...]