Dec 20 Insurance Newsletter

What Is and Isn't Covered if Your Home
is Overrun by Animals

Animals can be cute, cuddly and great companions. However, animals, whether wild or domesticated, can also be a threat and damage your home in ways that leave you wondering who will pay for the problems you now have to solve. Below are a few examples of what is and isn't covered if your home is overrun by animals.

Destruction.Most insurance policies won't cover the destruction of personal property by animals, so your vintage book collection isn't reimbursable. However, if an animal damages a door or window, for example, your insurance policy may kick in, given that the property itself was damaged.

Infestation.Rodents, vermin, bugs and other creepy crawlies are unwelcome in your home, and while an exterminator can make quick work of an infestation, your insurance policy probably does not cover the elimination of these pests. It also most likely won't cover any damage caused by these unwanted guests. However, each policy is different, so you should consult your individual policy terms. Sometimes property damage is covered but not the costly REMOVAL of Pests and residual from them.

Liability.When your pet decides to act out and take it out on your favorite chair by chewing on it, your insurance policy won't cover Fido's misbehavior. However, if you take your dog over to your boss's home and he eats their furniture, your insurance policy's liability coverage will likely kick in.

If you have concerns about potential animal-related damages, call or email. We can review your policies.

Turns Out Giving is Good for You and Your Health

It turns out giving to others is good for your health! According to Professor Michael Norton and his Harvard Business School study, participants are happier spending money on others than themselves.

This residual happiness is not limited to spending and physical gift giving. In fact, a National Institutes of Health study found that when people give to charities and volunteer their time, it activates the region of the brain associated with pleasure, social connection and trust. And with the holidays firmly around the corner, there's no better time to get your give on.

Giving is not only good for our emotional well-being but our physical health, too. Kathleen Lawler of the University of Tennessee conducted a study that found participants had lower blood pressure when providing social support to others (as opposed to those who didn't), leading to the conclusion that giving reduces stress and improves longevity.

Generosity's health-boosting effects tend to ripple out and gather up others in its wake. It's linked to the release of oxytocin, the love hormone, which induces warmth, empathy and the propensity to be generous towards others, which kick-starts a behavioral circle of giving, according to neuroeconomist Paul Zak.

As you bravely take on the Christmas sale season, donate to charity or volunteer, remember that your efforts not only show your family and your community that you care about them but all that and more. Your simple selflessness will surely kick-start a cascade of goodwill that echoes beyond the year-end festivities, giving you a big dose of happiness in the process!

Assess, Review and Update: Preparing for the New Year.

As the new year approaches,

many of us look at our lives and decide to make changes.

This time of change is also a good time to determine whether your current insurance coverage meets your needs. After all, it can be easy to forget to update our insurance as life happens. Here are some steps to keep in mind to prepare for the new year.

Assess and review

Update your home inventory. Remove any donated, sold or tossed items from the list and add any new purchases and major gifts you receive this holiday season. Your inventory should have descriptions and the cost of items. It's a good idea to scan or photograph the receipts and keep those with the list. Make sure you can access your list online or have a copy off-site so if disaster should strike, you will be able to access it.

Take a look at your automotive needs. Is your coverage still appropriate for the age and value of your vehicles? What changes have there been this year? Do the limits, deductibles and primary driver designations still make sense for your current needs?

What other life events or changes in the past year may affect your coverage? Births, large purchases, remodeling and changes to your commute are all matters to consider, as they impact insurance.

Update

If there have been changes over the year, whether it is to your home inventory, your car needs or major life events, you'll need to update your insurance coverage to accommodate these changes. When you do, make sure you don't miss out on opportunities to save, such as multiple policy discounts or new programs that may lower your insurance costs.

We are happy to help you evaluate your insurance needs to ensure you have the right coverage as you head into the new year. Call or email us today for a review of your policies.

What Is This Journaling Thing All about?

What do Oscar Wilde, Susan Sontag, Henry David Thoreau, Franz Kafka and Ben Franklin all have in common? Other than shaping the world with their erudite minds, they all kept personal journals.

But journaling is not just a pastime of the historical elite. Increasingly adopted by the millennial generation, it's a great way to stay in touch with yourself and reap science-backed benefits, such as increased work performance (according to a 2014 Harvard Business School study) and improved emotional well-being after stressful events (according to a 2005 Cambridge University study).

All you need to figure out before you set pen to paper is what type of journal would best suit your needs and personality. You could begin a memoir journal, where you record your thoughts, goals, feelings and ideas in a diary style, a bullet journal, which is used to record daily tasks, goals, and to-do lists, or even a gratitude journal, which records all the things you're grateful for.

Once you've chosen your format, start small, like writer James Clear. His idea of "atomic habits" (undertaking one small act that will snowball and eventually make an enormous difference) perfectly applies to journaling. Instead of setting out to write an opus, start by writing for five minutes a day. Once you get into the habit, you'll know when you're ready to build on the practice and write in more depth.

Remember that a journal is your own private space. You don't need to censor yourself, and if you need to offload some emotional baggage or negative thoughts, your journal is a safe place to leave them, clearing room in your mind for positive and constructive ideas and perceptions as you move forward.