What’s holding insurers back from electronic payments?

epayPaper checks are definitely on the way out. There were 49.5 billion checks issued in 1995, falling to 30.5 billion in 2006, and just 24.5 billion in 2009, according to the Federal Reserve. Switching to electronic payments can be a major money saver. The U.S. Treasury switched to direct deposits and debit cards and retired paper checks. It’s expected that the move will save taxpayers $1 billion over the next decade. Continue reading

Am I High Or Is My Stash Covered?

blog-image_2014-10-22Enservio customers have been asking: so what is the appropriate response to contents coverage pertaining to cannabis loss? Cannabis plants are valuable, and theft is not uncommon.

To follow ISO standards, the loss of a cannabis plant would typically amount to a $500 settlement. That’s what ISO standards cover for loss of “plants, trees and shrubs.” But these are not normal plants, and a lawsuit could certainly ensue. Insurers nationwide ought to be prepared to address these issues.

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Average Cost to House a baby? More than you think.

Baby Room

Babies are adorable. But expensive.

A baby crib and bedding, changing pad, stroller, highchair, car seat, sling carrier, doorway jumper, monitor, walker, bathing tray, diaper bag…  Did you know that Americans spend on average $2776 on such items for little baby Sue or Jimmy?

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On Thin Ice: How to Prevent Ice Dams this Winter

It finally happened: it’s cold. Ice cold. The past week has chilled Massachusetts, the home state of Enservio, with single digit temperatures–and the dangerous ice conditions that accompany them.

Ice, besides being the cause of slips and falls in the driveway while you’re getting in and out of your car – is also to blame for the common residential problem of serious leaks, and buckling roofs. ”Ice dams” can happen to any homeowner in possession of a slanted roof.  Continue reading

Our House: Home Insurers and What They’re Accomplishing

Here’s a word you might hear a lot in the insurance business: “bundling.” It doesn’t exactly roll off the tongue but it’s, regardless, used often to describe when a customer of a particular insurance company decides to give said company their business concerning multiple insurance policies instead of just one. Generally speaking, it means that someone with a homeowners policy also purchases their automobile (or life, or both, or even more additional options) policy through their initial insurer and creates, along with said insurer, a type of “package” that encapsulates every policy into one large multi-policy. Continue reading

Lesson Learned: The Most Common Misconceptions about Homeowners Insurance

Have you ever encountered a bewildered and bemused insured who was fraught with incorrect information about his or her homeowners insurance? At some point, every adjuster has been there – needing to correct the insured’s misconceptions — hopefully lessening his or her predicament. If you had to name 5 common misconceptions homeowners have about their insurance policies, what would they be? Did they make our list? Continue reading

In the Flood Zone: Changing Flood Maps Impact Homeowners in Multiple Ways

When it rains, it pours. At least, that’s how many Americans must feel in the wake of the Federal Emergency Management Agency (FEMA)’s release of new flood maps this past July. With the newest maps come some changes in areas determined by FEMA to be at high risk for dangerous flooding and, because of this, homeowners with properties located within these high risk areas will be subject to costlier insurance rates. Continue reading

A Homeowner’s policy will replace your personal items in the case of a loss… But what if you’re renting?

Most people are aware that they need homeowner’s insurance to protect themselves against a total loss of property, including the personal items in the home. But what if you’re renting?

A recent survey conducted by a top insurance carrier found, unsurprisingly, that the number one concern for renters is fire damage. What the survey found that is surprising is that only 45 percent of people surveyed have a renter’s insurance policy to protect their personal items of a loss occurs. Continue reading

How high’s the water?: The United States Flood Insurance hearings

Flood insurance sounds pretty self-explanatory to the layman. The name says it all: it’s a type of insurance a homeowner may purchase to protect his or her home from future flooding. In some parts of the United States, like Florida and Louisiana and really anywhere near large bodies of water, flood insurance is a must-have but, if a hurricane, or excessive snow strikes a different area, flooding can still become a major problem. Continue reading

Retaining a Younger Generation of Customers

PropertyCasualty360.com covered an interesting study recently conducted by Deloitte called “The Voice of the Personal Lines Consumer: Buyers in the Driver’s Seat.” The study found that 40 percent of people surveyed had been with their insurance agent for over ten years. This is an impressive statistic that shows good insurance agents are still needed, even in a time where technology is increasingly replacing human interaction. Continue reading