John M. Biggio Lighthouse Weekly - Issue #9

Article of The Week

If you were recently married or you're busy making plans for what will be one of the most memorable days of your life, there might be one important action that many people forget yet it's vitally important. Studies show that one third of all brides will lose their wedding ring at some point, and since the wedding ring is one of the most valuable pieces of jewelry most people own, insuring it should be on the pre-wedding to-do list. Even if it's not wedding-related, if you have jewelry that is valuable, it's important to have it insured, and your homeowners insurance policy may not be enough.
Making Sure Your Jewelry Is Insured

Automobile

I was the bearer of bad news in my last column when I passed along this advice from insurance experts: When renting a car while on vacation, purchase the rental company’s extra insurance, despite the added cost. But several of you weren’t convinced. “For your follow-up, can you address the added coverage that American Express offers?” wrote reader Scott Boyages. “They claim that it's equal to the coverage you get if you take the rental company's insurance. Curious whether it actually does.” We’ll do our best today to explain how major credit cards may or may not protect you when renting a car. Plus, as promised, the lowdown on renting Zipcars and moving vans.Credit Cards Offer Some Extra Rental Coverage...

Homeowners

No matter what type of home insurance policy you buy, there's a list of common "perils" that most insurance companies will not cover.
Test your insurance IQ. Do you know which of these scenarios is not covered by your policy?
A) A car careens off the street and drives into your living room.
B) A skunk gets into your house and now everything you own stinks.
C) A foreign army invades the United States, destroying your house in the process.
Answer: You're not covered if an invading army destroys your house (acts of war are excluded), but you are covered if your house is hit by a car or perfumed by a skunk.
Knowledge is your best defense when you have a possible home insurance claim. Knowing exactly what your homeowner insurance policy covers and excludes also helps you determine whether you need to purchase additional coverage for your circumstances.
Home Insurance Exclusions: What Your Policy Won't Cover

Commercial Line

In the 21st century, preparing for cybercrime is just part of the cost of doing business. As governments around the world scramble to protect their own IT assets against "cyberwars" (and sometimes initiate similar offensive measures), business leaders in the private sector are worrying about legions of unaffiliated hackers who can attack from the comfort of their living rooms.
Get Insurance To Protect Your Business From Cyber Attacks