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Do You Need Flood Insurance Even if You Don’t Live in a Flood Zone?

by Posted in Flood Insurance Tagged , ,

You know waterfront living carries risk of flooding, but did you know that about 25 percent of all flood claims come from moderate- to low-risk areas?

Every year, thousands of homes flood that aren’t in a designated flood zone.  Because Florida has flat terrain, low elevation and a high water table, realistically, nearly the whole state is a flood zone.

Flood facts

Flooding is the most common and expensive natural disaster homeowners face. Many Florida homeowners don’t realize that standard homeowners insurance doesn’t cover flooding. For flood coverage, you need a separate flood insurance policy.

Flood insurance covers physical losses to the structure of your home, including systems like plumbing, electrical, and HVAC, as well as your personal belongings up to the policy limit.

Floods can result from many causes, such as heavy rains, flash floods, storm surge, ground water rising, rivers overflowing. New land development can change the way water flows, affecting your risk of flooding. Flood damage is extremely costly. According to Floodsmart.gov, just one inch of water can do an average of $25,000 damage to a home.

Why does it cost so much to repair? Because flood waters not only damage belongings like furniture and appliances, they also wreak havoc with the structure and systems of your home. Flooding can also contaminate wells or carry debris that clogs septic tanks. And if flood water comes into your home, mold and mildew may grow on anything the water touches.

Flood insurance options

Homeowners may choose to buy flood insurance two ways, through FEMA’s National Flood Insurance Program (NFIP) or through a private flood insurance company. For many years, the NFIP was the only choice, but new technology has made flooding more predictable, so more private insurance carriers are entering the flood insurance market.

Either option will provide insurance coverage for flood damage, but there are some advantages to buying a flood policy from a private insurer. With the NFIP, coverage is capped at a $250,000 limit—that may not be enough to cover your losses. You can get higher limits with private insurance companies. You’ll also have a 30-day waiting period before your flood coverage goes into effect with the NFIP that you often won’t have with a private flood insurance provider.

Call us for a quote!

If you need a quick and easy flood insurance quote for your home (or your business), give L & M Insurance Group a call at 813-672-4100, or click here for an online quote. Our independent agency writes with many quality insurance carriers for all insurance needs—including, home, auto, flood, and commercial insurance throughout Florida. Let us help you find the coverage you need to protect your most valuable investments: your home, your vehicles, and your business.

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Prepare Now for the 2022 Hurricane Season

by Posted in Flood Insurance, Homeowners Insurance Tagged , , ,

It’s that time again. Just like death and taxes, preparing for the Atlantic hurricane season every year is inevitable for Tampa Bay residents. However, just because it happens every year, doesn’t mean you should become complacent or neglect your preparations. You and your loved ones have a much better chance of riding out the season safely if you take a few minutes to review your hurricane season plans. (And if this is your first Florida hurricane season, be sure to check out the links at the bottom of this post for more detailed information!)

Before the storms

One of the first steps you should take is to review your homeowners insurance policy limits and coverage. See the declarations page of your policy for this information. Are the policy limits adequate to repair or rebuild your home? What about coverage for your personal property? An up-to-date home inventory will help to make the process smoother if you need to make a claim. Take photos or video of your belongings, and keep receipts for big ticket items.

Remember, homeowners policies have a special deductible which applies only to hurricanes. It’s usually a percentage of your home’s insured value rather than a flat dollar amount, as with a fire or theft claim. While raising your deductible may save you a little money on your premiums, you’ll need to be sure you’re able to pay that deductible should you need to make a claim.

Please call your agent at L & M Insurance Group (813-672-4100) if you need help understanding your policy, if you need to adjust your policy limits, or you need a homeowners insurance quote.

Consider buying flood insurance, even if you’re not in a flood zone. Ninety percent of all natural disasters involve flooding, and flood damage is NOT covered under homeowners insurance. (Click here for a flood insurance quote.)

You might also consider sewer backup coverage, which is also not covered by standard homeowners insurance. It can usually be added to a policy for a nominal fee.

Important: If you decide to buy flood insurance, or make changes to your homeowners insurance policy, don’t wait until a storm is brewing. Coverage cannot be bound when a storm is approaching.

Store your insurance agent’s number and the claims number for your homeowners insurance company in your phone, and make a note of your homeowners insurance policy number.

Collect emergency supplies, especially water (one gallon per person/per day for at least seven days). You’ll also want to stash non-perishable food, extra batteries, first aid supplies, prescription medications, diapers and formula, and pet supplies.

Make plans for evacuation if you’re in an evacuation zone. Know where to go and what to take with you.

Make other basic preparations, including gassing up your car and checking air in tires, as well as oil and water levels. Have some cash on hand, charge your cell phone, tablet, and laptop, and refill prescriptions if possible. Have a portable, battery-operated or NOAA weather radio available for storm updates and instructions if the power is out.

Enable wireless emergency alerts on your cell phone.

Prepare your home and landscaping against a hurricane’s effects. Have trees and branches trimmed, especially those hanging over a structure. Consider installing storm shutters and a wind-rated garage door. Plan what to do with smaller items like potted plants, children’s toys, pool and patio furniture.

If a storm is imminent, turn the refrigerator and freezer to their coldest settings to keep food cooler longer. You may also want to store some perishable items you’ll want access to in a cooler with ice if the power goes out. If you don’t open the door to the refrigerator or freezer, the food will also stay cooler longer. Please be mindful of food safety—click here for more information.

Clean and fill tubs and sinks with water to use for flushing toilets and washing.

During the storm

Stay inside and away from windows, glass doors, or skylights. The safest spot is an interior room with no windows. Close the garage door, exterior doors and windows, as well as all interior doors. Research found that closing interior doors helped to compartmentalize pressure inside a home, reducing pressure on the roof by as much as 30 percent.

Preparing for a hurricane ahead of time can help you minimize its impact. Spend a few minutes now reviewing what you plan to do, what supplies you have on hand, and which ones you need to replenish. Check out the links below for more detailed information. And remember, L & M Insurance Group is here to serve all your insurance needs. Please let one of our agents help you make sure you’ve got the homeowners insurance coverage that best fits your needs this hurricane season, and beyond. Call us at 813-672-4100, or click here to contact us online.

For more information:

Hillsborough County Disaster Planning Guide

Floridadisaster.org

Ready.gov

NOAA.gov

Weather.gov

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Three Things You Should Know About Water Damage

by Posted in Flood Insurance, Homeowners Insurance, News Tagged , ,

When you think of Florida, you probably also think of water. We’re lucky to have gorgeous rivers, lakes, and the ocean practically right on our doorstep. Unfortunately, we also have the ever-present threat of water damage—whether from leaks, flooding, or sewer backup.

Florida residents file thousands of water damage claims every year. Water damage claims are second only to wind and hail claims in frequency. The high cost of water damage claims is one of the factors contributing to higher insurance premiums for everyone, and because of this, most homeowners insurance companies now put restrictions and limits on water damage coverage.

Here are three things you should know about water damage.

Water damage is expensive

The average home insurance claim for water damage is $11,098, and nationwide household water damage claims cost up to $20 billion each year. One inch of water can cause more than $25,000 worth of damage.

Water damage isn’t always covered by homeowners insurance

Water damage causes include burst pipes, leaks (either plumbing or roof), appliance failures, sewer backup, and flooding. Homeowners policies generally cover the “sudden and accidental discharge of water,” such as from a burst pipe, accidental overflow of an appliance or fixture, or water damage done in the course of putting out a fire. They won’t cover water damage caused by maintenance issues or failure to make repairs. Frequently, there is no coverage for water damage if mold is present or it is clear that the damage has been in existence for 14 days or more without being fixed. The key is that the problem must be sudden and accidental, not an ongoing maintenance/repair issue.

Sewer backup isn’t covered by most Florida homeowners policies, but you can add coverage via endorsement for a nominal amount of money.

What about water damage from flooding? Flood damage is not covered under a Florida homeowners insurance policy, regardless of the cause of the flooding. If you need flood coverage, you can buy a separate flood insurance policy.

When shopping for homeowners insurance, be sure to read your potential policy carefully, and ask your agent to explain any water damage exclusions or restrictions if you have questions.

You can help prevent water damage

There are some home maintenance tasks you should do to minimize significant water damage to your home, including:

  • Inspect your roof for missing or damaged shingles and make repairs if necessary.
  • Caulk and seal windows.
  • Inspect and maintain your plumbing system.
  • Know the location of the main water shut-off valve to your home. Being able to shut off the water quickly can minimize damage if a pipe or hose bursts.
  • Replace your traditional water heater every 10 years.
  • Shut off the water supply to your washing machine when you go out of town.
  • Don’t leave the house when the dishwasher or washing machine are running.
  • Check that gutters and downspouts are clear, and that water drains away from your foundation.
  • Install a humidity sensor in areas where a leak might occur, such as near a washing machine or dishwasher.
  • Install a wireless water valve—these monitor water flow and usage and can potentially alert you to a leak.

Let L & M Insurance Group help

If you’re in the market for a new homeowners insurance policy, you want to know that you have the appropriate coverage for your needs, including water damage coverage. We know sorting through insurance information can be confusing. That’s where we can help. Please consider independent insurance agency L & M Insurance Group for all your insurance needs, including homeowners insurance. We have many years of experience serving the communities of Tampa Bay, Riverview, Brandon, Valrico, and surrounding areas. Give us a call at 813-672-4100, or click here to contact us online.

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With NFIP Flood Insurance Prices Rising, Is It Time to Consider Private Flood Insurance?

by Posted in Flood Insurance Tagged , , ,

Insuring a home in a flood zone has just become more expensive. Recent changes to the National Flood Insurance Program (NFIP) went into effect Oct. 1, 2021 for all new flood insurance policies, and will begin affecting existing flood policies at renewal. Under the new program, called Risk Rating 2.0, 80 percent of Florida’s flood policy premiums will be going up, according to FEMA, the government agency which administers the NFIP.

There is another option. Flood insurance written by a private company may be a good fit for you if your premium goes up under the NFIP, or if you need higher limits of coverage than that program offers (see below).

Who needs flood insurance?

Florida is surrounded by water and experiences frequent storms and heavy rain, so flood risk is higher here than in much of the U.S. Even if your home is not in a high-risk area, you may still want to carry flood insurance. Between 20 and 25 percent of flood losses in the U.S. are outside of a high-risk flood zone. (Click to find your flood zone.)

Damage from flooding can be devastatingly expensive—just one inch can do more than $25,000 worth of damage, and the average flood loss can be as much as $40,000. And remember, standard homeowners, renters, and business policies do not cover flood damage. You’ll need to buy a flood policy if you want coverage.

NFIP or private insurance?

Flood insurance policies cover physical damage caused by flooding to the structure and major systems of your home, as well as to your personal belongings, such as furniture, clothing, or electronics. However, the most you can insure for under the NFIP is $250,000 for your home and $100,000 for your personal property. If you need higher limits, you’ll likely have to buy a policy through a private flood insurance company.

With NFIP policies, there’s usually a 30-day waiting period. Policies offered by private insurers come with a shorter waiting period, or none at all.

Other things to be aware of while you’re shopping for a flood policy: some private flood insurance companies will not insure mobile homes, and very rarely, a mortgage company will not accept flood coverage from a private company. Make sure the policy you buy will satisfy your mortgage lender’s requirements.

Private flood insurance may be cheaper than NFIP coverage. Private companies have more flexibility in calculating their rates than the NFIP does, and that may result in a lower premium for consumers.

Let L & M Insurance Group give you a flood insurance quote

Don’t wait until a storm is brewing to decide you need coverage for flood losses. The agents at L & M Insurance Group can help you decide which flood insurance policy is right for you. In addition to writing for the NFIP, we represent several private flood insurance companies that write flood insurance at competitive rates. Click here to fill out an online request for a flood insurance quote, or call us at 813-672-4100.

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We Can Insure That! Let L & M Insurance Group Help With Specialty Insurance Coverage

by Posted in Boat Insurance, Flood Insurance, Uncategorized Tagged , , , , , , Leave a comment

You already know L & M Insurance Group can get you great deals on your homeowners, car, and business insurance (and if you don’t, contact us today for a free quote!). But what if you buy a recreational vehicle, boat, or personal watercraft? Where should you go for insurance? Wonder no longer—we can insure that!

We want to be your one-stop insurance agents. Not only can we insure your home, car, and business, we can also provide specialty insurance coverage.

What is specialty insurance coverage?

Simply put, specialty insurance coverage is insurance for special or unique items or situations not typically covered under a standard home or auto insurance policy. This might include insurance coverage for classic cars, boats, ATVs, motorcycles, RVs, or personal watercraft.

In addition, important coverages such as flood insurance and umbrella policies can also be considered specialty insurance.

Protection from financial loss

The purpose of any insurance is to provide protection from financial losses—both physical losses and liability losses. Once you have the basics covered—insurance on your home and vehicles appropriate for your situation—you should consider what losses you might incur that would not be covered by those policies. What assets do you want to cover—like boats, RVs, and other “toys,” for example? You may need flood insurance, since flood damage is not covered by a standard homeowners insurance policy, or an umbrella policy to protect your financial assets in case of a lawsuit.

This might sound confusing, but it doesn’t have to be. As an independent agency, L & M Insurance Group has been serving Riverview, Brandon, Gibsonton, Apollo Beach, Tampa and nearby communities for more than 10 years. We represent dozens of financially stable, A-rated insurance companies, and we will be happy to advise you in choosing the right specialty insurance coverage for your needs. Please call 813-672-4100, contact us, or visit www.landminsurancegroup.com for more information.

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Florida Flood Facts—Is Your Home at Risk?

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If you live in Florida, the answer is probably yes, according to Roy Wright, former director of the National Flood Insurance Program (NFIP).

Florida has the longest seacoast in the continental United States, as well as flat terrain and many rivers. It’s not just a hurricane that can cause flood damage. Flooding can be caused by storms, dams or levees breaking, or even new development that changes the way water flows. You don’t even need to live in an area known to be at high risk for flooding to find the water rising. More than 20 percent of all flood claims come from outside high-risk flood zones.

Here are some additional Florida flood facts:

  • Floods are the most common type of national disaster. Forty percent of all disasters worldwide involve flooding.
  • Just one inch of water in your home can cause more than $25,000 worth of damage.
  • Florida was affected by six of the 10 most significant flood events by NFIP payouts: hurricanes Katrina, Harvey, Ivan, Irma and Matthew, and Tropical Storm Allison.
  • Residential properties in Florida have the most potential exposure to hurricane storm surge in the nation.
  • Of the most densely populated areas at risk for potential storm surge damage, Tampa ranks fourth, after the New York City metro area, Miami, and Virginia Beach.
  • In 2016, just 14 percent of homeowners in the South carried flood insurance. (The national average was 12 percent.)
  • NFIP policies provide coverage of up to $250,000 for your home’s structure, and up to $100,000 for your personal possessions. If you need higher limits, you’ll need a private flood insurance policy.
  • NFIP authority must be renewed by Congress periodically, and is due for renewal by July 31, 2018. If it is not renewed, the NFIP will stop selling and renewing policies, but claims will still be paid.
  • Private insurers have become more comfortable underwriting flood policies because of better models to predict flood risk. In 2017, 33 private companies wrote flood insurance, up from 20 in 2016. L & M Insurance Group represents several of these private insurers.
  • In 2016, the average amount of food coverage was $246,890. Average premium was $656.
  • The average flood claim in 2016 was $62,247.
  • After a flood, most federal assistance comes in the form of low-interest disaster loans which will need to be paid back. FEMA disaster grants don’t need to be paid back, but they are often much less than what you’ll need to recover. A flood insurance claim should provide the funds you need to get back on your feet.

Flood coverage is excluded under standard homeowners policies, but purchasing a flood insurance policy is more affordable than before. L & M Insurance Group represents several private insurance companies that will write flood insurance at competitive rates. Give us a call at 813-672-4100 or contact us online—let us help you protect your home from the risk of flood damage.

 

For more information, visit: https://www.floodsmart.gov/

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Hurricane Season Is Almost Here–Will You Be Ready?

by Posted in Flood Insurance, Homeowners Insurance Tagged , Leave a comment

After 2017’s Hurricane Irma impacted nearly the entire state of Florida, most of us in the Riverview and Brandon area are taking hurricane preparations seriously this year. Hurricane experts have already indicated that the 2018 season should have slightly above-average activity and probability that a major hurricane will make landfall along the continental United States.

 

Here are five things to do NOW to prepare before a hurricane blows you way:

 

  1. Inspect your home and yard. Now is the time to make any necessary repairs to your roof (if you replace your roof, be sure to get a wind mitigation report—it could save you money on your homeowners insurance), cut down dead tree limbs, or buy any necessary storm shutters, plywood, or braces for your garage door. Also make note of any lawn furniture, children’s play equipment, or potted plants that might need to be moved so a hurricane’s high winds don’t turn them into flying hazards.
  2.  Check evacuation and flood zones (they aren’t the same). If you live in an evacuation zone, familiarize yourself with the route, and make plans now for where you’ll go. If you don’t have to evacuate, consider offering friends or family who must evacuate a place to stay. Tip: Keep your vehicles gassed up during hurricane season, just in case you need to get out of town quickly.
  3. Create or update your Disaster Supply Kit. Make sure you have plenty of medicines, food, water, batteries, pet supplies, and other crucial items on hand. Include a portable NOAA radio, and if you have a landline, a corded phone (portable cordless phones won’t work if there’s a power outage). Click here for a full description of what your Disaster Supply Kit should contain.
  4. Collect copies of important documents, such as driver’s licenses, and insurance policies, and make sure you have your insurance agent’s contact information.   Take pictures of your home and belongings if you haven’t already done a full home inventory, and store those pictures someplace that won’t be affected by the storm, either online or with a friend or family member outside of Florida.
  5. Review your insurance policies. What is your hurricane deductible? Do you have flood insurance? Standard homeowners policies do not come with flood coverage, but flood insurance is more affordable than ever, so you might want to look into buying it.

Don’t let a hurricane catch you unprepared. Take time now to prepare your home and your family for any coming storms. And remember, L & M Insurance Group is here to help you. Please contact us if you have any questions about hurricane or flood coverage.

For more information on hurricane preparedness, please visit:

 

Prepare Now for Flood Risk

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Florida Flood Risk

With Hurricane Harvey fresh in our minds, the Brandon/Riverview area is on alert watching the path of Hurricane Irma. While the effects of wind, such as damage from fallen trees, is likely covered under your homeowners insurance policy, less your deductible, damage from flooding is not.

Part of our preparations for Hurricane Irma should include planning for the possibility of flooding.   Here are a few things you can do to before the storm arrives:

  • Evaluate your flood risk. How likely is it that your home or business will flood? Even if you’re not in an official flood zone, you still might be at risk for flooding under the right circumstances. Twenty-five percent of all flood claims come from the preferred zones B, C and X.
  • Know how to stay informed with alerts and information, whether you monitor local radio or TV stations, or listen to a NOAA Weather Radio All Hazards receiver. Make plans for how you’ll stay informed if the power goes out.
  • Understand the difference between a flood watch (flooding is possible in your area) and a flood warning (flooding is happening or is about to happen in your area), and be prepared to evacuate if public officials tell you to do so.
  • Know your best evacuation routes, and plan ahead of time where you’ll stay if you have to evacuate.
  • Make a plan for communicating with friends and family. Write down and keep with you copies of important numbers, don’t just store them in your phone.
  • Gather items you’ll need to take with you if you have to evacuate. Include clothes, food, water, first aid items, money, phones and chargers, and important documents such as insurance policies, home inventories, personal identification, and prescriptions. Also include any irreplaceable items like pictures or other mementos.
  • If you have valuable or sentimental items you’re not taking with you, bag them or put them in plastic bins if possible, and place them in the highest safe spot in your home.
  • Consider buying flood insurance for the future. L & M Insurance Group represents several private companies that write flood insurance policies at a more competitive rate than those of the National Flood Insurance Program (NFIP). These policies also have higher available limits than the NFIP’s standard policies.

According to insurance experts, only about 20 percent of the victims of the devastating floods in the Houston area following Hurricane Harvey had flood insurance. The remaining 80 percent will have to find a way to rebuild with only the possibility of federal disaster relief, which comes in the form of low-interest loans which have to be repaid, or Federal Emergency Management Agency (FEMA) disaster grants, which are typically not nearly large enough to cover the damage.

Floods are America’s most common and costly natural disaster, according to FEMA. They cause millions of dollars of damage a year, and can happen anywhere. Don’t wait until the water’s rising to prepare.

Give L & M Insurance Group a call at 813-672-4100 or contact us here if you have any questions about flood insurance, or if you’d like a quote. We are here to help.

Five Things to Do Now to Prepare for Hurricane Season

by Posted in Flood Insurance, Homeowners Insurance, Uncategorized Tagged , , Leave a comment

Florida hurricane deductible

The start of the 2017 hurricane season is just 10 days away. Are you ready? If you’ve lived in Florida for any length of time, you know how much havoc a storm can cause. Better to spend an hour or two now to save a lot of stress and worry when a storm is bearing down on you.

Here are five things to do NOW to prepare before a hurricane blows your way:

  • Inspect your home and yard. Now is the time to make any necessary repairs to your roof (if you replace your roof, be sure to get a wind mitigation report—it could save you money on your homeowners insurance), cut down dead tree limbs, or buy any necessary storm shutters, plywood, or braces for your garage door. Also make note of any lawn furniture, children’s play equipment, or potted plants that might need to be moved so a hurricane’s high winds don’t turn them into flying hazards.
  • Check evacuation and flood zones (they aren’t the same). If you live in an evacuation zone, familiarize yourself with the route, and make plans now for where you’ll go. If you don’t have to evacuate, consider offering friends or family who must evacuate a place to stay. Tip: Keep your vehicles gassed up during hurricane season, just in case you need to get out of town quickly.
  • Create or update your Disaster Supply Kit. Make sure you have plenty of medicines, food, water, batteries, pet supplies, and other crucial items on hand. Include a portable NOAA radio, and if you have a landline, a corded phone (portable cordless phones won’t work if there’s a power outage). Click here for a full description of what your Disaster Supply Kit should contain.
  • Collect copies of important documents, such as driver’s licenses, and insurance policies, and make sure you have your insurance agent’s contact information.   Take pictures of your home and belongings if you haven’t already done a full home inventory, and store those pictures someplace that won’t be affected by the storm, either online or with a friend or family member outside of Florida.
  • Review your insurance policies. What is your hurricane deductible? Do you have flood insurance? Standard homeowners policies do not come with flood coverage, but flood insurance is more affordable than ever, so you might want to look into buying it.

Don’t let a hurricane catch you unprepared. Take time now to prepare your home and your family for any coming storms. And remember, L & M Insurance Group is here to help you. Please contact us if you have any questions about hurricane or flood coverage.

For more information, please visit:

Hillsborough County Emergency Management

https://www.ready.gov/hurricanes

 

Do an End-of-Year Insurance Review

by Posted in Auto Insurance, Flood Insurance, Homeowners Insurance, Life Insurance Tagged , , , , , Leave a comment

Insurance review

Now that the holidays are winding down, you may be thinking about your goals and plans for next year. If one of those plans is improving your financial condition, one way you can do this is to conduct a review of your current insurance coverage. Your goal is to have the right amount of coverage for your needs, at the best price.

First, look over your policies to remind yourself of your current coverage and deductibles, insurance premiums, and discounts. Then consider how your life has changed in the past year. Did you get married, divorced, or have a baby? Do any of your children now have driver’s licenses? All these changes should be reflected in your insurance portfolio. Here are a few additional specifics to consider:

Auto Insurance

Is it time to raise your deductible or drop comprehensive and collision coverage? Has your commute changed? Do you have additional drivers in your household who are not listed on your policy? Are you receiving all the discounts, such as safe driver or multi-car, that you’re eligible for?

Homeowners Insurance

If your home were destroyed, would your coverage be adequate to replace it at today’s construction costs? Do you have enough coverage for your personal possessions? You may need to increase your coverage limits if you’ve made improvements to your home, or bought or received as gifts expensive items such as computers, jewelry, or art.

If you’re thinking of raising your deductible as a way to save money on your premium, would you have the resources you need to pay that deductible if you have a claim?

You may be eligible for discounts on your homeowners insurance if your alarm system is monitored. You’ll need to provide a certificate from your monitoring company to receive the discount. If you’ve recently replaced your roof, ask your insurance agent how you can benefit from a wind mitigation report.

Flood Insurance

The entire state of Florida is at risk for flooding. Even if you don’t live in a so-called high-risk area, if you don’t have flood insurance, you might want to consider buying it. We represent several private companies that write flood insurance policies at a competitive rate.

Umbrella Policy

An umbrella policy is additional liability insurance, beyond your home and auto insurance, which protects your assets from a lawsuit. If your assets have increased, you will want to make sure you have enough coverage, or if you don’t currently carry an umbrella policy, you might want to consider purchasing one.

Life Insurance

If you’re the breadwinner, what would happen to your family if you die? A life insurance policy is one way to provide for them after you’re gone. In addition, although life insurance is mainly intended to replace lost income, consider buying life insurance for a non-working spouse or domestic partner. It can quickly become expensive to replace the work he or she does to keep your household running.

Because insurance is an important part of your financial life, it’s good to review your policies from time to time to be sure your coverage remains in line with your assets and liabilities. Remember, if you have any questions about your policies, L & M Insurance Group is here to help.

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