Rising Cost of Property Replacement

Bill Richards • June 23, 2021

“Home is where the heart is”, they say. It is also where your pocketbook is!
It is most often your largest personal investment and asset. Protecting that asset is extremely important to your overall financial health. When its value changes your protection needs to change as well. Many insurance policies stop at the value listed on your policy declarations page. Some can have additional protection for up to 50% above that limit when a proper endorsement is added. These are important elements that a trusted insurance advisor can help you understand. Choosing options and making informed decisions is part of the process that enables you to recover from disaster when it strikes. Whether fire, storm, or another unexpected peril strikes you need to correct protection to avoid disaster.

The cost of replacing your home continues to rise as raw material prices increase.  As you can imagine  So what happens to your insurance? Does it go up as well? In most cases the answer is yes, you will see changes when your renewal arrives in the mail. If not, you need to contact your agent or another insurance advisor that you trust to determine if your protection is keeping up with these changes. When a claim occurs, it is too late to adjust values or add protection that is missing. We always recommend doing a full review at least every 3 years and sooner if you have made any changes to your property. Planning ahead and staying informed is always in your best interest. You may find helpful information about protecting your home here. Tailored Protection for your home

November 8, 2024
In today's uncertain economic landscape, businesses are looking for effective ways to support their employees while managing costs. At Community Insurance LLC, we understand the challenges employers face and offer diverse employee benefit options, including group health and voluntary benefits, to help companies provide meaningful support. 1. Financial Benefits to Reduce Stress Financial worries can impact employee performance and morale. By offering financial benefits, employers can help ease this burden: Financial Education Opportunities: Providing access to financial advisors, workshops, or seminars is a low-cost way to guide employees in setting and achieving financial goals. Financial stress is known to affect productivity and turnover; by addressing this, you enhance not just your employees' well-being but your company's bottom line as well. Short-Term Savings Assistance: Helping employees build emergency funds through payroll-deducted savings accounts can prevent them from dipping into retirement savings during crises. This proactive approach supports financial stability without the need for matching contributions. Local Business Discounts: Partnering with local businesses to offer discounts can make daily expenses more manageable for employees while boosting the local economy. Polling employees on preferred businesses ensures the discounts are relevant and valuable. 2. Mental and Physical Health Benefits Mental health support is critical, especially during periods of heightened stress. Investing in mental health yields substantial returns, with studies showing a $4 return for every $1 spent. Flexible Work Arrangements: Offering flexible work schedules can significantly improve mental health and doesn't negatively impact productivity. This benefit helps employees balance work and personal responsibilities more effectively. Health and Wellness Stipends: A yearly stipend for wellness activities can cover gym memberships, health apps, or weight management programs. While it may not fully cover these costs, it motivates employees to prioritize their health. Prescription Drug Discounts: Rising medication costs can burden employees. Providing prescription discount cards helps them manage healthcare expenses, ensuring faster recovery and improved productivity. Start Supporting Your Team Today We hope these insights inspire you to explore new ways to support your workforce. For tailored solutions and guidance on the best benefits packages, schedule a consultation with Community Insurance LLC today. Let's build a benefits plan that helps your employees thrive and aligns with your budget.
Share by: