create_a_fire_escape_plan_with_your_family_blog

Home Fire Escape Plans

Fire can spread rapidly through your home, leaving you as little as one or two minutes to escape safely once the smoke alarm sounds. Your ability to get out of your home during a fire depends on advance warning from smoke alarms and advance planning.

Why do you need a home escape plan?

  • Working smoke alarms and a home fire escape plan can reduce your risk of injury or death in a fire.
  • Most fatal fires happen in homes.
  • When fire strikes you may have less than one minute to get out of the building.
  • Fires double in size every minute.
  • Fires create thick, black, choking smoke which makes it impossible to see or breathe.
  • Fires produce heat, smoke and toxic gases.

In the event of fire, time is the biggest enemy, and every second counts. In less than 30 seconds, a small flame can turn into a major fire. Having an escape plan will help you and your family to get out of your home quickly. Practice E.D.I.T.H. — Exit Drills in the Home — with your family.

A closed door may slow the spread of smoke, heat and fire. Install smoke alarms in every sleeping room and outside each separate sleeping area. Install alarms on every level of the home. Walk through your home and inspect all possible exits and escape routes. Pull together everyone in your household and make a plan. Below are guidelines on how to write your home fire escape plan. As your insurance agent, we strongly encourage you to follow these steps and create a plan for your own home.

  • Households with children should consider drawing a floor plan of your home. Show all doors and windows.
  • Visit each room, find two ways out, including windows and doors, and mark them.
  • All windows and doors should open easily. You should be able to use them to get outside.
  • Push the test button on each smoke alarm to make sure each alarm is working. Replace the batteries where needed.
  • Pick a meeting place outside. It should be in front of your home. Everyone will meet at the

meeting place.

  • Make sure your house or building number can be seen from the street.
  • Talk about your plan with everyone in your home.
  • Learn the emergency phone number for your fire department.
  • Practice your home fire drill!

Watch these steps to making a home fire escape plan from the National Fire Protection Agency.

According to an NFPA survey, only one of every three American households have actually developed and practiced a home fire escape plan. While 71% of Americans have an escape plan in case of a fire, only 45% of those have practiced it. One-third of American households who made an estimate thought they would have at least 6 minutes before a fire in their home would become life-threatening. The time available is often less. And only 8% said their first thought on hearing a smoke alarm would be to get out!

Taking time to review these safety precautions and write your home fire escape plan might just save a life!  At Peterson McGregor Insurance, we look forward to helping keep you and your family safe by providing the insurance coverage for all your home needs. You can reach us at 866-547-4474, online at https://petersonmcgregor.com/services, or any of our social media channels.

Source:

https://fire.arlingtonva.us/safety/escape-plans/

https://www.nfpa.org/Public-Education/Staying-safe/Preparedness/Escape-planning

https://www.gohealthuc.com/library/does-your-family-have-fire-escape-plan

https://www.mass.gov/service-details/create-and-practice-a-home-escape-plan

CookingwithFireBlog

Restaurant Kitchen Safety

Owning a restaurant can be very rewarding, but it is hard work. Safety is very important not only for your customers, but for your staff as well. The main cause of injury and illness in the hospitality industry is an unsafe work environment. Working in any commercial kitchen is a dangerous job. If you own a restaurant, don’t forget these safety features in your kitchen.

  1. Proper Attire: Kitchen staff uniforms are often mandatory. They designate rank and keep the chef clean and comfortable during service. However, footwear is often times overlooked. You should encourage all employees to wear heavy duty, close-toed shoes that are waterproof and slip resistant.
  2. Non-Slip Mats: In addition to slip resistant shoes, you should have non-slip mats and flooring. During service a kitchen floor can become greasy and wet. Fast moving workers can potentially slip and fall. Non-slip mats and flooring can provide the necessary traction for workers to continue their fast pace without worrying about slipping.
  3. Ventilation: Without proper ventilation, a kitchen becomes hot, smoky, and unbearable. Employees who are required to spend a long period of time in unventilated kitchens are at higher risk of heat related illnesses. Proper ventilation systems are essential for the safety and comfort for your employees.
  4. Fire Safety Equipment: Commercial kitchens are in constant danger of fires. Having a fire suppression system is essential for keeping your kitchen safe. Training your employees how to use your fire suppression system is just as important as having the system! You should also have an evacuation plan in place and practice regular fire drills.
  5. Equipment Guards: Having commercial grade equipment is essential for your kitchen to run quickly and efficiently. Employees may state that safety guards on the equipment get in the way and slow down production, but they are there for a reason! Safety guards are an effective way to prevent amputations and lacerations from poor equipment handling.
  6. Signage: Slips and falls are often times caused by undisclosed hazards such as a recently cleaned spill. It pays to have adequate signage in the kitchen to draw attention to potential hazards. Signs should be placed in visible areas and in high-contrast colors.
  7. Occupational Health and Safety Training: While this is important for workers across all industries, there are some hospitality-specific hazards you need to address with your staff. A safety seminar will address issues such as: proper food storage and handling, how to avoid repetitive stress, how to remove or avoid potential hazards in the kitchen, and more.
  8. Correct Cleaning Techniques: All kitchen staff members should be trained in proper cleaning and food handling techniques. Poor kitchen hygiene is not only dangerous to your customers, but also to the kitchen staff handling the food. Food-borne illnesses is one of the top reasons cited for missed work days.

Whether you own the restaurant, work there, or you’re a paying customer, you want to remain safe and healthy. Flames and fuel in close proximity, hazardous cleaning chemicals, and sharp food prep equipment make a commercial kitchen, by far, the most hazardous environment to work in. Kitchen safety should be a priority to protect your employees and your customers. Having proper restaurant insurance from Peterson McGregor Insurance is another step to making your restaurant safer. Give us a call at 866-547-4474 or visit us online at https://petersonmcgregor.com/ for your free restaurant insurance quote.

Source: https://pos.toasttab.com/blog/on-the-line/restaurant-kitchen-safety-tips

Saxophone_Blog

Are Musical Instruments Covered by Homeowners Insurance?

Standard homeowners insurance policies often cover musical instruments, but it might not include coverage if the instrument is being played for compensation. Situations including fire damage, vandalism and theft are often covered by homeowners insurance.

You should check your policy to find out the total coverage limit for your personal property. If you have about $150,000 to replace all of your personal items in an incident of a fire or other disaster, but your instrument is worth $50,000 alone, that only leaves $100,000 for the rest of your belongings. In cases like this, it would be a good idea to insure your instrument separately. Here are some ways to determine whether or not you may need extra coverage for your instrument(s):

  • Take an inventory of your instrument(s).
  • Figure out the value of your instrument(s), and get a professional appraisal if your instrument(s) are extremely valuable.
  • If your homeowners insurance policy isn’t enough to cover your instrument(s) in addition to the rest of your belongings, consider getting extra coverage.

There are two options for getting extra coverage for your instrument(s). One option is to endorse coverage on your current homeowners insurance policy. The other option is to get separate coverage for your instrument(s).  An endorsement on your homeowners will most likely cover a larger range of disasters that involve your instrument(s) than a standard homeowners policy does.  If you perform for a compensation, the instrument(s) may not be able to be covered at all through a homeowners insurance policy. Standalone instrument policies also often cover the instrument(s) no matter where it is at any given time. Musical instrument policies may cover the following circumstances:

  • Damage caused by temperature changes and/or humidity
  • Theft
  • Water damage
  • Flood damage
  • Earthquake damage
  • Vandalism
  • Shipment damage
  • Repair damage

Musical instrument policies may not cover:

  • Gradual deterioration
  • Mold damage
  • Damage from insects, worms, rodents, or vermin

Separate musical instrument insurance policies usually provide an agreed value coverage as well. This is important for higher valued instruments that appreciate, so that they are being insured at their full value.

Source: https://www.rollingstone.com/product-recommendations/finance/theft-music-instruments-homeowners-insurance-1214015/

_Lawn_&_Garden_Blog_1

Yard Work Safety Tips to Keep You Out of the ER

Amid all the green lawns and manicured gardens of summer lies a grim statistic: Every year, while mowing the grass, cutting a branch, or power washing a deck, at least 100 people die and an estimated 143,000 are injured badly enough to require a trip to the emergency room.

The injuries people suffer run the gamut from overexertion and dehydration to cuts and amputations from using all kinds of power equipment. It’s also worth noting that in our research, we also came across a disturbing number of injuries associated with a common piece of equipment that doesn’t have a motor at all: ladders. Falls from ladders cause more injuries than all the power equipment in our research combined, resulting in broken backs, ankles, legs, and hips.

But using power equipment can cause far worse accidents. When working in the yard turns deadly, it can be due to carbon monoxide poisoning from a gas-powered engine running in an enclosed space, for example, or people getting trapped under large equipment, like a riding lawn mower.

And it’s not just the person doing the yard work who’s at risk. Bystanders also get hurt, such as children who have been killed or injured when playing near a mower or other outdoor power gear. As your insurance agent, we strongly urge you to read and follow the following safety prevention tips to keep you, friends, and family safe this summer.

Prevention Tips

∙ Keep children away from power equipment and do not let them in the yard while you are working.

∙ Wear safety goggles, closed-toe shoes, and long pants when using lawn mowers and other machinery.

∙ Protect your hearing when using machinery.

∙ Wear gloves to lower the risk for skin irritants, cuts, and certain contaminants.

∙ Use insect repellent containing DEET to protect yourself from mosquitoes and ticks.

∙ Wear long sleeves, wide-brimmed hats, sun shades, and sunscreen to protect your skin.

∙ Follow all instructions and warnings associated with lawn equipment.

Power Equipment safety is a priority for every homeowner. You may not want to spend the extra few minutes checking the function of the equipment and inspecting the lawn. However, doing so can help prevent risks, including those related to injury to you or your family. More so, power equipment can also do damage to your home when operated improperly.

We proudly insure the residents of Michigan, and are your local independent insurance agent. We can provide coverage from many insurance carriers so you receive the insurance for your budget and needs! You can reach us at 866-547-4474 or online at https://petersonmcgregor.com/.

Sources: https://www.consumerreports.org/outdoor-safety/yard-work-safety-tips/ and https://www.lifespan.org/sites/default/files/lifespan-files/documents/centers/4-safety-program/Lawn-and-Garden-Safety-Navy-and-Marine-Corps-Public-Health-Center.pdf

Garage Blog 1

Garage Clean Out Tips

Imagine a world where you could actually park inside your garage. What if we told you that dream could be a reality with just a weekend’s worth of work?

We rounded up expert garage cleaning tips and turned them into a five-step plan you can use to get your garage organized quickly and painlessly.

  1. Take Everything Out

The first step to decluttering your garage is to find out what’s in it. Pick a section of your garage to start with and pull everything out onto the driveway to sort through. Besides making it easier to work, this garage cleaning tip will also allow you to see what space you have to work with and what types of storage might work best when it’s time to organize the items you’re keeping.

  1. Decide on Your ‘Keep’ Criteria

Once you’ve pulled everything out, it’s time to set some ground rules for deciding what to keep. This garage cleaning tip will speed up the process by preventing you from agonizing over each individual item. When deciding what to keep and what to throw away, ask yourself: “Is this item in the garage for a reason, or because I didn’t know what to do with it?” If it’s the latter, either find a use for it or get rid of it.

  1. Decide What to Do with the Garage Clutter

Whatever doesn’t make your “keep” list is, by default, clutter. Don’t let it hang around your garage any longer.

With your “keep” items set aside, start going through the rest of the stuff you pulled out of the garage. Identify items you’d like to sell or donate first. Have plastic bins, cardboard boxes or bags on hand so that you can pack up donation items as you work and stash them somewhere out of the way.

Bag up or box up junk that doesn’t make the “keep,” “sell” or “donate” piles. If you’ve rented a dumpster for your weekend cleanout, toss the garbage bags into the container as you go.

  1. Deep Clean the Space

While you’ve got your garage entirely cleaned out, it might be a good idea to scrub it down before putting things back. In general, the best way to clean up a garage is from top to bottom. Start by dusting off and wiping down the tops of your cabinets, shelves and refrigerator if you have one. Then, wipe down your garage walls and the doors of your fridge and cabinets with a warm, damp cloth and a mild household detergent. Next, sweep the floor to get rid of the dust you’ve shaken loose. Finish up by mopping and hosing off the floor. Allow the floors two to four hours to dry before putting things away. As your insurance agent, we want you to stay safe. A clean garage is a safe garage!

  1. Get Organized

Now that you’ve whittled your inventory down and finished your garage cleanup, seize the opportunity to keep clutter from building back up. So, what’s the best way to organize a garage? It depends on what exactly you need to store.

 

Cleaning out your garage not only provides the benefit of a clean space but it also works in your favor when it comes to your insurance! Here are reasons why to clean out your garage space:

  1. Safe from the elements- rain, snow, wind

This is probably one of the most obvious, but rain, snow, wind and other weather elements are enemies of a car’s exterior. They can leave dirt and acid on a vehicle that can cause significant damages to the exterior, like rust and a weakened top clear coat. UV rays from the sun can damage a vehicle in ways most car owners don’t consider. Extreme hot and extreme cold can both lead to deterioration of the inside and outside.

  1. Protects from dings and scratches from elements or other vehicles

Hail and falling tree branches are just a couple examples of ways a car can get damaged from simply being outside. Dents, scratches, and broken windows are all possible exterior problems that can occur when a vehicle is left outdoors.

  1. Less likely to have theft or vandalism

Cars are a huge investment, and for most they are one of the most valuable things they own. Parking outside leaves a vehicle exposed to vandalism and theft. A garage helps eliminate the temptation for those that want to harm a vehicle in any way.

  1. Lower insurance costs

That’s right, some insurance companies offer lower policies for people who store their vehicle in a garage. Saving money is always an advantage.

  1. Keeps vehicles exterior looking great

Believe it or not, mechanics can tell if a car is stored in a garage or outside. Vehicle exteriors are kept in much better condition when stored in a garage which can lead to greater resale values.

  1. Engine stays lubricated / Coolant stays warmer, heat/AC comes on faster

Because a garage keeps a vehicle warm, the fluid and oil are kept in a stable condition which leads to an engine that runs better than one that is kept outside. Also, with a warmer car comes faster AC and heat. On cold days, the heat will warm up faster than being out in the elements. Same is true for extremely hot days.

  1. Visibility is ready to go

Forget the ice scraper or dewy windshield. Parking in a garage helps keep windows clear of weather and condensation so there is no need to ride with one head out the window.

Parking a car in the garage seems to be a thing of the past. Garages are used for a lot of other things like storing junk or home workshops, but parking in the garage is one of the best things for a vehicle.

Peterson McGregor Insurance is an independent insurance agent located in Traverse City, Lake City, Harbor Springs/Petoskey, Cadillac, Grand Rapids and Manistee in Michigan. We can provide coverage from many insurance carriers so you receive the home insurance for your budget and needs! You can reach us at 866-547-4474 or online at https://petersonmcgregor.com/.

Source: https://www.budgetdumpster.com/blog/how-to-clean-out-your-garage-and-conquer-the-clutter-for-good/ and https://www.mrcleancarwash.com/blog/10-benefits-of-parking-a-car-in-a-garage/

Make your Beach Day SAFE!

Ahh –  The beach!  We love the water, the sand, the sun and the family time to unwind and have FUN!

Staying safe at the beach is very important. Weather and water conditions can change rapidly.  In the blink of an eye someone could be caught in a rip-current.

Be sure to:

  • Follow all beach rules and regulations.
  • Swim only in areas where there are life guards.
  • Avoid drinking or the overconsumption of alcohol, especially if you’re swimming or boating.
  • Keep an eye on your children at all times.
  • Safely secure all umbrellas in place to prevent injury to yourself or others.

At the beach, it’s important to find and follow posted signs and flags. This is for your safety. And as your insurance agent, we strongly encourage you to do so!

There may be lifeguards or other beach patrol officers on duty. They may make announcements over a loudspeaker, or you can ask them about beach conditions.

Follow their guidance and instructions. This applies to when you’re on the sand or in the water. They are there to help keep your family safe and ensure everyone has a good time.

You can typically find beach rules posted at the entrance or near the lifeguard stand or tower. The following are rules that you may see posted:

  • Look for flags set up on the beach
  • Know where lifeguard stations are
  • Look for signs and postings near the entrance or lifeguard tower
  • Talk with lifeguards for tips and information about the beach and water conditions

Everyone in your party should be a strong swimmer. They should also have experience swimming in the ocean or other large body of water before entering the water.

Beach safety swimming courses may be available at your local Red Cross chapter or YMCA.

When you enter the water, always go in feet first. Avoid diving. Don’t dive off of cliffs, bridges, or other high surfaces.

Swimming in the ocean or a large body of water is different than swimming in a pool or most small lakes. You’ll need to watch out for:

  • tides and undercurrents
  • unexpected changes
  • water depths at drop-offs
  • rocks, debris, and other hazards and obstacles
  • whether there’s local marine life that can sting or bite
  • boats, ships, and other watercraft that may be in the water at the same time
  • bad weather in the area, such as lightning or thunderstorms
  • tsunami warnings

Please watch these Beach Safety Tips from the American Red Cross!

Whether you live close or far from the beach, swimming in the ocean is almost certainly part of most families’ summer plans. While some prefer to stay in the sand, many of those visiting the beach plan on going for a swim in the salty waves. The ocean can be a great time filled with laughter and fun if you follow the proper safety guidelines. Engaging in unsafe or reckless behavior could put you or a family member in a potentially disastrous situation.

If you decide to purchase a home at the beach, we can insure it. If you decide to take a trip to the beach, we can insure your trip. Have a great, fun, summer! You can reach us at 866-547-4474 or online at https://petersonmcgregor.com/services or on our social media channels.

Source: https://www.healthline.com/health-news/going-to-beach-pool-what-to-know-covid19-risk and https://www.guard.com/blog/2019/07/17/beach-safety/

Navigating Boat Insurance

According to the National Marine Manufacturers Association, 141.6 million Americans go boating each year – that’s almost half the population of the U.S. Unfortunately, not every boater is going to be as conscientious as you, and that’s why it’s important to stay safe, and stay covered with watercraft insurance.

Do I need it?

Yes. Some states legally require it, and a quick Internet search can reveal if yours does. But more importantly, without it, you could be on the hook for major costs related to liability or repairs in the event of an accident. If you ever have to make a claim, the average is $11,000.

How much do I need?

Similar to cars, boats lose value when in use. That’s why it’s important to remember these two terms: agreed value and market value. Insuring for market value factors in depreciation, and thus can be a money saver in terms of your premium. However, if you intend to replace your boat with something new in the event of a total loss, you’ll want to insure it for its agreed value, so you won’t have to go out-of-pocket to purchase a replacement.

Protection for your boat – and from others

According to the U.S. Coast Guard, the leading type of boating accident is collision with a recreational vehicle. That’s why it’s important to protect yourself against other vessels and operators who may not be carrying the right level of insurance. An uninsured and underinsured watercraft liability option provides coverage for a loss that you or other occupants of your watercraft experience from a claim involving an un-/underinsured boater.

More than just boats

You may regularly transport your boat from your home to a dock or marina. If so, boat insurance may help protect your trailers and other equipment, too. One example is a watercraft physical damage endorsement, which can provide physical damage coverage for eligible watercraft as well as trailers.

All aboard for coverage

You can protect what’s on your boat, too. With a fishing equipment and personal effects endorsement, you can increase coverage limits for items like fishing gear, water sports equipment, coolers and more.

Smart sailing

Inexperienced or inattentive operators are the leading contributors to boating accidents. So, stay safe and stay alert. Much like teens and driver’s ed courses, taking a boating class can help you reduce not just your insurance premium, but the risk of getting in an accident.

It’s kind of like a canopy

Once your boat is out of the water, its insured status can get vague. For instance, if you are driving your boat on a trailer, and get into an accident, the coverage in your auto policy takes effect. However, your boat insurance often does not factor in. So, to make sure you are covered both in water and on land, consider an umbrella policy. It’s expanded liability coverage that can help protect you in this scenario (and plenty of high-cost scenarios not involving boats as well).

That’s a boatload of options

Talk to Peterson McGregor Insurance today at (866) 547-4474 or our website https://petersonmcgregor.com/ to learn more about (water)crafting the right plan for your boat. We offer coverage affordable, and easy to add to your existing home and auto policy.

Source: https://www.hanover.com/resources/tips-individuals-and-businesses/prepare-now-learn-how/navigating-boat-insurance

TaxReturn

11 Ways to Keep Your Identity Safe this Tax Season

What Cybercriminals Don’t Want You to Know

Thieves are working extra hard this tax season to steal your information and gain access to your money. These cybercriminals use email and phone scams to trick taxpayers into revealing valuable information.

In a tax tip article, “Don’t take the bait”, the Internal Revenue Service (IRS) says, “The most common way for cybercriminals to steal money, bank account information, passwords, credit cards and Social Security numbers is to simply ask for them.”

The scams seek to fool people into sharing sensitive information under the guise of being a legitimate company, such as a bank, tax service or even the IRS. They often involve counterfeit email addresses and phone numbers, copycat webpages or corrupt hyperlinks that contain viruses.

Protect yourself by reading emails carefully:

  • Do not open attachments or click on links unless you are able to verify the sender.
  • Check email addresses for spelling and accuracy. If possible, use a reliable search engine and go to the source’s main web page to verify contact information.
  • Use security software. Some anti-virus software can detect suspicious websites, malware and viruses found in phishing emails.

Take your time and don’t let aggressive or urgent-sounding emails rattle you. Cybercriminals may use threatening language or pressing deadlines to make their messages seem more authentic. This is just a tactic to push you into making a careless mistake.

The IRS does not contact taxpayers with aggressive threats of lawsuits or arrest. Their tax tip article also says, “Remember that no legitimate business or organization will ask for sensitive financial information by email.”

Keep your personal information safe:

  • Never give out personal information unless you are sure about who you are talking to. If you are unsure, investigate further by contacting the IRS.
  • Use strong passwords or passphrases for email and sites containing your personal information.
  • Give personal information over encrypted websites only, and only if required.
  • Look for sites that have “https” at the beginning of the URL and a lock symbol that you can click on to get more information.
  • Use multi-factor authentication if it is available. Typically, this requires your name, password and a separate security code that is sent to your mobile phone to log in.

You already protect things like your family, home, car and pets. Maybe you even own a business and have cyber insurance coverage, because you know about the many risks posed by cybercriminals.

Now is the time to protect your data, so you don’t become the next victim of phishing or identity theft. Stay aware of how you share your information, especially while filing your taxes, and don’t be afraid to investigate who you are dealing with.

Protect your tax information like you would your money:

  • Keep tax returns locked in a safe place, or encrypted if they are electronically stored.
  • Shred tax documents before throwing them away.
  • Report phishing scams to the IRS by forwarding suspicious emails to phishing@irs.gov.

Cybercriminals are good at gaining trust and don’t want you to protect your data. But with a few simple precautions you can safeguard your personal information and your money. For more information about phishing attacks and how to stay safe, visit https://www.irs.gov/newsroom/dont-take-the-bait-heres-how-taxpayers-can-avoid-getting-caught-by-a-phishing-scam

Peterson McGregor was founded in 2000 by a dedicated group of local insurance professionals with a deep commitment to area families and businesses. Today, we have offices stretching from mid-Michigan to the Mackinac Bridge and serve clients across the state and beyond. As an independent insurance firm, we’re structured and committed to providing best-in-class commercial and personal lines of insurance. In short, we help you develop a plan that’s tailored to your specific goals, budget and comfort level. Contact an agent at 866-547-4474 or https://petersonmcgregor.com .

 

Cyber-Lock

What is Cyber Insurance and Why Do You Need it?

Cybersecurity insurance is a new and emerging industry. It has its origins in errors and omissions (E&O) insurance, a separate form of insurance that protects against faults and defects in the services a company provides. E&O insurance is analogous to product liability policies for companies that sell physical or digital products. At Peterson McGregor Insurance, it’s important to us that you and your business stay safe during these emerging times. Read on to learn more about what is Cyber Insurance, how does it work, and why do you need it.

What is Cyber Insurance?

Cybersecurity insurance, also called cyber liability insurance or cyber insurance, is a contract that an entity can purchase to help reduce the financial risks associated with doing business online.

While some cyber insurance policies contain specific provisions for E&O, most providers sell these as separate and distinct policies. E&O insurance does not cover the loss of third-party data, such as customer credit card numbers; customers needing such protection can purchase a cyber insurance policy that covers it.

How Does Cyber Insurance Work?

Cyber insurance policies help cover the financial losses that result from cyber events and incidents. In addition, cyber-risk coverage helps with the costs associated with remediation, including payment for the legal assistance, investigators, crisis communicators, and customer credits or refunds. Vinson & Elkins discusses Cyber Insurance 101 in this short video.

Why is Cyber Insurance Important?

Cyber-SecurityThe loss, compromise or theft of electronic data can have a negative impact on a business, including the loss of customers and revenue. Businesses may be liable for damages stemming from the theft of third-party data. Cyber liability coverage is important to protect businesses against the risk of cyber events, including those associated with terrorism. Cyber-risk coverage can assist in the timely remediation of cyberattacks and incidents.

According to Thirdway.org, “There are approximately 300,000 reported malicious cyber incidents per year. Attacks cost the U.S. economy anywhere from $57 billion to $109 billion annually and these costs are increasing.” Cyber risk is real and let’s face it: almost everyone uses some kind of cyber technology every day. In an era when email is used for everything, and transactions often occur online, the world of cyber presents a great opportunity for criminals.

According to the Insurance Information Institute, “Insurance experts now consider the risk of cyber liability losses to exceed the risk of fraud or theft. In this tumultuous environment, your business can take several steps to limit risks, including purchasing cyber liability insurance.”

Contact Peterson McGregor Insurance at https://petersonmcgregor.com/ or call us 866-547-4474 today to discuss your Cyber Insurance needs with an agent!

Source: https://searchsecurity.techtarget.com/definition/cybersecurity-insurance-cybersecurity-liability-insurance and https://prowritersins.com/cyber-insurance-blog/how-does-cyber-security-insurance-work/

 

Luxury-Stone-Home

Homeowners Insurance Facts

When you decide you want to buy your first home, homeowners insurance may not be the first thing you think about. However, most mortgage lenders require you to have homeowners insurance before they will approve your loan. There are a few things you should know about homeowners insurance.

Certain losses are excluded from most homeowners insurance policies. Standard homeowners insurance policies don’t cover floods or earthquakes. If you want coverage for flood or earthquake damage, you will need separate policies for those. If you are in a flood zone, your mortgage lender may require you to purchase flood insurance.

We all know that our credit score is important for many things. Did you know it can also affect your homeowners insurance premium? Some states have banned this practice; however, in most cases your credit score can affect your insurance premium. The better your credit rating, the lower your premium. So while you’re spiffing up your credit rating to get a good deal on your mortgage loan, you should maintain a good rating to save money on your homeowners insurance.

home-repairPoor home maintenance may cause a claim to be denied. Not all damages are covered by homeowners insurance. If the damage that occurred to your home is due to your failure to properly maintain your home, your claim may be denied. When it comes to home maintenance, don’t be a procrastinator!

home-is-where-the-heart-isWhile you are living in your new home, you will acquire new valuables, personal possessions, and may do some home improvements. You should always report these to us right away so we can ensure your coverage is sufficient for your investment. Enjoy your new home, you deserve it! If you have any questions regarding homeowners insurance, please contact Peterson McGregor Insurance at 866-547-4474 or online at https://petersonmcgregor.com/ .

Source: https://www.hsh.com/first-time-homebuyer/facts-about-home-insurance.html