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How to Protect Your Collectibles

A guide on how to protect your collectibles, including tips on proper storage and insurance. The most popular and valuable types of collectibles are discussed, such as art and antiques, classic cars, jewelry, handbags, sneakers, video games, musical collectibles, toys, comics, coins, and stamps.

No one wants to leave for vacation only to realize that they forgot to shut their windows at home. Use these tips to prep your home before you set out.

Prep Your Home Before a Vacation

Before COVID, US residents took an average of 1.9 billion trips for leisure per year. If you’ve traveled, you probably already know that taking a vacation requires a lot of planning. Between booking flights and hotels or deciding which roads to take and sights to see, there are a lot of moving parts to a great vacation plan. But as you coordinate your travel plans, don’t forget to think about the home you’re leaving behind. Here are 20 steps to take before leaving for your vacation. 1. Notify your credit card company. If you’re going to make credit card purchases during your trip, you may want to… Read More »Prep Your Home Before a Vacation

Marital Status and Personal Insurance

Your particular insurance needs depend, in part, on who you live with and your relationship to them. Most changes to your relationship status will warrant an insurance policy update. If you don’t update that information, your insurance company may have incomplete information about who’s sharing your home or your car, and you may have too little or too much coverage. Insurance Needs for Single or Single with Roommates Whether you rent or own, whether you live alone or with roommates, you should have an insurance policy to cover your home and possessions, as well as the necessary car insurance. Your guests, your roommates, and their… Read More »Marital Status and Personal Insurance

Commercial General Liability Exclusions j. (5) and j. (6) Are Not the Same

Denial of Commercial General Liability Coverage (CGL) coverage for certain types of property damage claims made against contractors or other repair or service business frequently cite exclusions j. (5) and j. (6), or as Randy Maniloff1  has named these exclusions, the “double js.” Put another way, these exclusions are appropriately labeled “double js” because if an insurer is citing one “j.”, it will almost always cite the other “j.” as a basis for a coverage denial.   The problem with lumping together of exclusion j. (5) and j. (6), which is the most prevalent when the property damage being claimed is… Read More »Commercial General Liability Exclusions j. (5) and j. (6) Are Not the Same

Catalytic Converter and Insurance

First of all, both your personal auto insurance and business auto insurance cover the damage to your autos with a theft of catalytic converter, as long as you have full coverage. You should open a claim an the payment will be processed with comprehensive part of your insurance policy.  You’ll likely need to pay your deductible. Thieves have targeted catalytic converters for years, but recently these crimes have been on the rise. According to the National Insurance Crime Bureau (NICB), there were 1,298 reported catalytic converter thefts in 2018. That increased to 3,389 in 2019 and skyrocketed to 14,433 in… Read More »Catalytic Converter and Insurance

Explaining Employers Liability Exclusion

Even when you follow all the necessary safety guidelines and precautions, accidents and worker injuries can happen on a construction jobsite. And when you have numerous sub-contractors involved, who is held liable for paying worker injury claims can get complicated quickly. This article details how the Employers’ Liability exclusion works in a Commercial General Liability policy through a hypothetical claims scenario and why its important to thoroughly review and understand this wording, especially when changes are proposed. Employee Injuries – Who Pays? Employee Injuries and Exclusive Remedy. When employees are injured arising out of and in the course of employment, that… Read More »Explaining Employers Liability Exclusion

Roof Maintenance and Inspection (What to Look For)

One of the most common mistakes homeowners make is to wait until they see a leak inside their home before checking out their roof. After all, why look for trouble, right? Unfortunately, avoiding home maintenance in this manner could cost you a lot more money in the long run.

Roof maintenance should be done each spring and fall and after any major storm that could damage it. Depending on the type of roof you have and your ability to access it, you may want to consider hiring a roof inspector to avoid personal injury.

Roof Styles

As you might expect, different types of styles and materials are popular in various regions because of architectural tastes and weather patterns. Among the most popular styles are:Read More »Roof Maintenance and Inspection (What to Look For)

5 Things You Need To Know About the Home Office Deduction

Let’s talk about the home office deduction. People ask me about it all the time. “Can I take it?” “Do I qualify?” “Will it increase my chances of getting audited?” All of these are reasonable questions—particularly nowadays, when the numbers of mico-businesses, home-based entrepreneurs, remote workers, work-from-home employees, and freelancers have grown so much over the past few years.

Here’s the answer, in a nutshell: The home office deduction is perfectly legitimate and you should absolutely consider it. Here are some important facts about this deduction—all sourced from the IRS’ summary, Publication 587 (Business Use of Your Home) and Form 8829 (Expenses for Business Use of Your Home). Of course, you should also check with your accountant.

Number 1: To even consider getting the deduction, a part of your home has to be your principal place of business. Read More »5 Things You Need To Know About the Home Office Deduction