Giles & Iten Insurance

How a comprehensive Arizona commerical insurance policy can help protect your inventory

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Business owners in the Surprise, AZ area often ask the team at Giles & Iten Insurance about protecting their inventory. A business’ inventory can fluctuate quite a lot depending on the time of the month or the time of year. If your business carries a lot of inventory that needs protection, we recommend a thorough review of your current commercial policy to ensure that you have the coverage you need. If you are concerned that your commercial policy does not meet your needs for inventory coverage, it’s a good idea to find out for sure.

Shifting Inventory Levels Can be Protected with a Comprehensive Policy

At some times during the year, your inventory may be at a low level due to the seasonality of your business. At other times, you may have a warehouse full of product. Depending on where you were in the business cycle, you may have underestimated the value of your inventory. When your comprehensive commercial policy is written to account for the variances in your inventory levels, you will be covered.

It is advisable for your commercial policy to provide protection at the highest level of inventory that you carry. Many people work out an average of the value of goods that they store throughout the year rather than at their highest level. The use of this calculation can create problems for the policyholder in the event that there is a coverable loss. Many businesses have a lot of capital dedicated to inventory, and protecting this investment is an important part of an insurance portfolio.

Want to make sure that your inventory is covered? Contact the team at Giles & Iten today to learn more about your comprehensive commercial insurance options in the greater Surprise, AZ area. 

3 Types Of Home Insurance To Supplement Your Basic Coverage With

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If you’ve just purchased your home insurance, you’re probably resting easy with the knowledge that you’re fully covered.

Bad news, though. You’re not entirely covered. A basic home policy covers the bare-bone necessities in terms of your possessions. If you don’t want to risk losing everything on your Arizona property, ask your Giles & Iten Insurance agent if any of the following supplemental policies are available.

Flood Insurance

Did you know that your home insurance doesn’t protect you against flood damage?

In most states, flood insurance is a separate policy which can be purchased alongside your basic home insurance. While some standard policies may cover some aspects of flood damage, a flood insurance policy can help you rebuild or repair in the aftermath of significant structural damage.

The National Flood Insurance program is available to provide coverage to homes in designated flood zones, but a private policy can cover a more significant expense budget. The National Flood Insurance program caps out at $250,000 per property.

Sewage Backup

Are you familiar with the kind of disaster that a sewage backup can cause in your home?

Aside from making your home into a cesspool of bacteria, issues with your sewage drain can cause major structural damage to your home. It can make your home unlivable or out of order in terms of the kitchen and bathrooms, causing you to shell out money for a hotel.

Your basic home policy doesn’t cover extensive sewage backup disasters. Even if you live in a dry climate, a sewage issue may be imminent. This is especially true if your home has a private sump pump. Buy sewer backup coverage so that you can replace your plumbing and repair structural issues in an emergency without budgetary constraints.

Earthquake

Even though an earthquake can take place anywhere, did you know that natural disasters are mostly absent from standard home insurance policies?

Should your home be destroyed or destabilized in the event of an earthquake, you have no real safety net. If you buy coverage against earthquakes, though, that budget is allocated to this one type of emergency.

In addition to paying for the repair or replacement of your home and property, earthquake coverage can accommodate your family as you pick up the pieces after the disaster. Your meals and board can be paid for outright or reimbursed, depending on the terms of your earthquake policy.

Are you ready to buy supplemental insurance in Arizona? Call a friendly Giles & Iten Insurance agent to explore your options today.