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Insurance Insights

Who Needs Flood Insurance? Everyone!


Here is why you need flood insurance even if you don't live in a flood zone.

This question has never been more pressing as many residents whose homes were flooded because of the recent storms are wondering how to protect themselves in the future.
At Rand Insurance, we stress the importance of getting a flood policy for your home or business as soon as possible whether you are in a flood zone or not.
Flood insurance covers water damage that results from water that has already hit the ground, pouring in from oversaturated yards, flooded streets, or overflowing rivers, streams, or ponds. Meanwhile, water backup coverage reimburses the homeowner for water that backs into the home through an outside sewer or drain.
Standard homeowner's insurance does not cover flooding, so it is a good idea to get a flood policy that covers the replacement cost of your home or the actual cash value of damages up to the policy limit.
It is important to note that by having a flood policy, the amount paid on contents will cover only actual losses caused by a weather-related flood, not a broken water pipe for example.
Another feature to know is that it takes 30 days for your flood policy to go into effect - so plan ahead. However, if you are closing on a home and your mortgage company requires you to have flood insurance, it would go into effect on the day of closing.
Call Rand Insurance and we will provide you with more information and guidance on flood insurance.

Posted 10/13/2021

Protecting Your Designer Wardrobe and Accessories

Do you own an extensive collection of couture?  Vintage or one of a kind, hand crafted high fashion?  Designer hand bags or shoes?  Well, you might consider getting specialized designer wardrobe Insurance because your basic homeowners insurance likely won't protect your collection.

Here are some key things to keep in mind:

  • Traditional homeowners insurance policies often exclude damage to high-value garments caused by various risks, including floods, earthquakes, mold, moths, and accidents.
  • Additionally, the loss of an expensive pair of shoes, handbag, or designer gown might not be covered under a homeowners policy if the loss is not greater than the deductible
  • Make sure your wearable collections insurance covers both made-to-measure and ready-to-wear garments, shoes, handbags, and other accessories.

Talk with your Rand Insurance account manager about specialized insurance protection for your couture and designer clothing.

by Meredith Bach  | 

4 Things You Should Pack For Your Boat Trip

Days spent on the water can be treasured memories. Whether it’s a weekend at the lake, or a day trip on the ocean, there’s just something special about spending time out on the water. While the scenery can be beautiful, remember conditions can change quickly, and you should always leave the shore prepared. Here are four things you should take aboard every boat trip.

  1. Personal Flotation Devices (PFD)

You will want to have a personal flotation device for every passenger on the boat. A life jacket denotes a certain type of PFD, a “throwable device” is another. Check your states laws on PFDs and life jackets to ensure you have the correct number of each.

When choosing a lifejacket, look for the United States Coast Guard Approved stamp on the inside. Check that jackets are free from rips and tears. Life jackets should be snug but allow you to move freely.

  1. Boat Certificate and Registration

Just like you always carry your driver’s license in your car, you should always have your boat’s registration aboard.

  1. Fire Extinguisher

Did you know that U.S. Coast Guard approved, marine-type fire extinguishers are required on boats where a fire hazard could be expected from the engines or fuel systems? It recommended to keep the fire extinguisher in a readily accessible location.

  1. Emergency Survival Kit

Pack or purchase a marine first aid kit. Here are some suggestions on what should be included:

– Variety of adhesive bandages
– Gauze pads
– Cold packs
– Scissors
– First aid cream
– Antiseptic wipes

In addition to first aid supplies, other items to include in the kit are:

– Audible signaling device (such as a whistle or an air horn)
– Visual signaling devices (such as flares)
– Sunscreen
– Bailer
Offshore boaters will want to pack additional items, such as a satellite phone in a water-tight enclosure.

Follow these boating safety tips to be more prepared the next time you head out on the water. 

Posted 7/20/2021

Distracted Driving Increases in Summer

Get prepared for your summer road trip!

Summer vacation season means more individuals and families setting out on road trips of all kinds. Statistics indicate that distracted driving from phone use occurs most frequently during the summer; nearly 10 percent more than any other time of year. This summer, consider how you can avoid distraction and stay focused on the road.

Click here for some great tips from our partners at Travelers Insurance.

Posted 6/22/2021

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