What do I need??

General Liability Insurance (GL) is the most common type of policy that is needed. It covers legal costs and damages if you are sued or someone is hurt on your property. Or if someone is hurt from using your product. Of course this does not cover Profesional Liability which is coverage for bad advice or slander.

Business Owners Policy (BOP) is a policy with multi levels of coverage. It combines liability with property and interruption coverage.  Which will certainly help in a loss. Since the homeowners coverage will not cover property that is specifically purchases for the business. This coverage would be included as the Business Personal Property. Interruption coverage is the loss of profits while the building is being rebuilt, such as after a fire.

No matter the business there is certainly a need for there to be coverage. Here at AnCap we can help you find the right amount of coverage for your business. Give us a call and we can get you a quote.

Do you know what the law says about pool safety??

Arizona law states:

1. Pool enclosures need to be at least five feet tall.
2. Openings in the fence cannot be larger than four inches. A self closing gate must open outward.
3. The fence must start at least twenty inches from the edge of the pool.

  It is also recommended that all children living in Arizona take swimming lessons by age three. Basic rules to follow are never swim alone and never leave a child alone near water. When you are out by the pool this summer it is a good idea to make sure you have your phone with you.

  Of course the swimming pool is not the only place that a drowning can occur. Make sure that you are always careful when in your home cleaning, bathing or if you have an open pond. It only takes two inches of water for a child to drown.

All dog owners need to understand their potential liability should their animal bite, maul or, heaven forbid, kill someone. A single bite could cost you tens of thousands of dollars — a lawsuit, hundreds of thousands — and your insurance coverage might not apply. If the attack is especially serious, you could even go to jail.

* Dog bites make up one-third of all homeowner insurance liability claims, according to the Insurance Information Institute, and cost insurers $356 million in 2007.

* The average cost of a dog-bite claim was $24,511 in 2007, the institute found.

If you are or want to be a dog owner, here’s what you can do to limit your risk: Research breeds before you buy. Yes, the owners of many breeds blacklisted by insurers will insist their animals are cream puffs, but you should understand that some animals pose greater risks than others.

There is no guarantee that a dog will or will not bite. There are certainly ways to prevent a potential situation.  Make sure that you train your pet, using positive reinforcement. If there are children in the home or potential child visitors make sure they realize that most dogs do not like hugs and kisses. A dog that repeatedly snaps or lunges at people isn’t being “protective”; it’s being aggressive. Don’t make excuses.

Most homeowner’s insurance policies come with liability coverage that tops out at $300,000. You’ll probably want more. A $1 million umbrella insurance policy  and is a good investment if you’re at greater risk for lawsuits — which, as a dog owner, you are.

If you have more questions on your coverage please give us a call.

When he asks, “Will you marry me?” this Valentine’s Day, the smart fiancée-to-be might respond, “Not unless you insure the ring.”

That’s because an ever-increasing number of engagement rings are costing more than homeowner’s insurance policies will pay to replace stolen, lost or damaged jewelry.

Taking out extra insurance to cover the ring may sound a little unromantic at first—but a policy covering the expensive jewelry could be worth its weight in diamonds.

When you consider that more and more of today’s engagement ring shoppers are purchasing diamond rings that range in size from two to three carats, the cost of replacing a lost or stolen gemstone alone could cost more than $10,000.

Check your policy

Take a look at your current policy—if you have one—because odds are that your renter’s or homeowner’s insurance does not cover the full value of an engagement ring valued at more than $1,000, and it probably doesn’t cover a claim at all if the ring is lost or damaged.

Renter’s and homeowner’s insurance policies generally set limits for reimbursing the loss of certain categories of personal property, including jewelry. Homeowner’s policies typically pay a maximum of $1,000 per item with a $2,500 limit for jewelry theft. A renter’s insurance policy might even have a lower limit for jewelry loss—a common maximum payout is $500.

Additional Jewelry Insurance

You can usually purchase additional insurance for your fine jewelry, but be sure to ask the right questions:

• Is an appraisal required to obtain insurance?
• Are my items covered wherever an incident could take place?
• Are items covered for full replacement cost?
• Will I have to replace the item, or can I obtain a cash settlement?
• Does the policy cover repairs to damaged jewelry?
• Is the ring covered if I lose it accidentally, or only if it’s stolen?
• What if it’s a vintage ring or other unique piece?
• How will the quality and size of my diamond—and the quality and size of a replacement be documented?
• How will I need to prove the ring vanished if I file a claim?
• Are there any circumstances that aren’t covered? (Like, what if my ring flies off while I’m skydiving or golfing?)

Average Cost

The yearly cost to insure your ring is generally $10 for every $1000 that it would cost to replace it. So, if your ring would cost $8,000 to replace, you might expect to pay about $80 to insure it—or slightly more in cities where the risk of theft is higher.

To Insure, or Not to Insure?

Sometimes things just get stolen. And only you know how risky your behavior is as it relates to the chances of losing or damaging your engagement ring.

But for the price, the cost of taking out some insurance to cover your engagement ring may just be worth it to both insure your fine jewelry and ensure your peace of mind.

Looking For Jewelry Insurance? Take a look here.