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Home Insurance Riders to Consider Investing In

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A rider is an additional protection measure that can be added to your home insurance policy in Omaha, NE. These riders allow you to receive compensation after a fire, theft, etc. for items that may potentially exceed your standard policy while also expanding your overall home insurance coverage. Ed Thompson Insurance Agency would like to shed some light on common insurance riders you may want to consider.

Water Backup Coverage

Many homeowners make the mistake of assuming that their general home insurance policy will cover any kind of water and moisture damage. However, most insurers have restrictions on this type of property damage.

For instance, your policy coverage may only be limited to damage caused by a water-using appliance, burst pipe, or the like, whereas damage from a sewer, drain, or sump pump backup is not covered. 

Because of this, you should consider investing in a water backup rider to ensure you are properly protected from an assortment of water-related perils.

Personal Property Protection

Your personal property is covered under your home insurance policy, but this coverage is only up to a certain amount. Therefore, if the personal items under your roof are damaged by a covered event, your policy will pay for repairs or replacement of these items up to the policy limit. In the event the damage exceeds this amount, you will need to pay out of pocket.

With that being said, if you have expensive items in your home, such as jewelry or artwork, you may want to invest in a rider that protects your personal property. You can also invest in individual riders for specific belongings. 

Identity Theft Protection

No one expects to become a victim of identity theft, and if it happens to you, you will likely spend years trying to reverse the damage that occurred. 

The good news is there is an identity theft protection rider that can be added to your home insurance policy to reimburse you for expenses related to undoing the damage from an identity thief. For instance, this rider can help pay for any legal expenses, deal with creditors, and replace documents. 

Anything can happen at any time. If you want to ensure you are properly covered, you should speak to Ed Thompson Insurance Agency, serving Omaha, NE, about a comprehensive home insurance policy that includes the necessary riders based on your individual situation. 

3 Auto Insurance Mistakes to Avoid

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Buying an auto insurance policy is one of the most important financial decisions you’ll make, so it’s worth taking the time to research. However, too often people don’t do their research, and they make mistakes as a result. Below are some of the most common auto insurance mistakes. At the Ed Thompson Insurance Agency in Omaha, NE, we want to help you avoid these mistakes. Take a look at the list below, and let us know if you have any questions. 

Not Understanding State Auto Insurance Laws

Before purchasing, it’s important to understand the auto insurance laws for your state. Because each state has different laws, some drivers may break insurance laws without realizing it. This is especially true for drivers who move from one state to another. If you’ve recently moved to Nebraska, make sure that you have the right auto insurance coverage. 

Not Updating the Policy

When was the last time you updated your auto insurance policy? Some drivers buy car insurance and then forget about it. However, you’ll want to make sure that your policy stays up to date. For example, your rates may change if you get a new car or go a certain amount of time without having an accident. If it’s been a while since you’ve updated your policy, it’s time to take a second look. 

Only Buying the Bare Minimum

Many drivers only get bare minimum coverage. They look at what their state requires, purchase exactly that much coverage, and then move on. However, this approach can become costly over time. In case of a car accident, for instance, someone with minimum coverage may end up paying a lot of money out of pocket. 

Have Questions? 

Want to make sure you’re not making these crucial mistakes? Get in touch with the Ed Thompson Insurance Agency in Omaha, NE. We’d love to answer your auto insurance questions and help you get the right coverage for your needs. 

The Importance of Home Insurance

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The agents at the Ed Thompson Insurance Agency in Omaha, NE are explaining the importance of home insurance.

You have made a very large investment in your home and will want to ensure that you have an adequate amount of home insurance in place to protect it. You do not want to wait until something horrible happens, such as a fire or tornado, to decide that you need a home insurance policy.

Home Insurance Coverage

Whether you are required by a lender to have a home insurance policy or your home is paid off, you need to have enough home insurance to replace or repair your home if it is destroyed or damaged by a fire, natural disaster, or an act of vandalism.

A home insurance policy normally covers the structure of your home along with any outbuildings, including sheds or decks. It will also cover the items inside your house, such as furniture, appliances, and your personal belongings if they are damaged or destroyed.

If someone robs your house or commits an act of theft while they are at your house, a home insurance policy can help cover the items lost. Your policy will also cover any injuries a person sustains if an incident happens at your house, such as a slip and fall incident, and they become injured and incur medical bills.

A home insurance agent can explain to you other options that are not covered under your regular home insurance policy, such as flood insurance and earthquake insurance. Those are separate policies that you can have tacked on to your main policy.

To obtain the proper amount of home insurance for your situation, you should contact a trusted and experienced home insurance agent, the agents at the Ed Thompson Insurance Agency in Omaha, NE are ready to assist you with all of your home insurance needs.

Is Basic Auto Insurance Adequate?

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With increasing economic challenges, most motorists are keen to cut their car insurance bill. As such, they may only stick to the state-required car insurance. But is it adequate? Is it wise to stick to basic car insurance? If you are anxious to find out the answers, please hang on as Ed Thompson Insurance Agency in Omaha, NE, discusses whether basic car insurance is a good idea.

Required car insurance in Nevada

Before getting far, the best place to start is looking at Nevada’s required auto insurance. If you drive or park in public places, Nevada requires you to include the below coverages in your car insurance.

  • Bodily injury liability of at least $25,000 per person and $50,000 for an accident involving more than one person
  • Property damage liability with a minimum of $20,000

So the million-dollar question is: Is the ("25/50/20") car insurance adequate? It’s a resounding no. If you are faced with a severe accident, the coverage limits are likely to be depleted, exposing your finances to uncovered auto accident expenses.

Besides, the above coverages don’t cover you and your vehicle. The state-required coverages are liability insurance policies that cover third parties only.

What we advise our clients

While meeting the minimum auto insurance coverages is superb, we usually advise our clients to:

  • Increase limits: Given that the mandatory liability limits are insufficient, we advise our clients to increase limits to about $300,000 for bodily liability coverage and $100,000 for property liability damage. And if these limits are still insufficient, we advise you to invest in umbrella insurance.
  • Consider other insurance coverages: For well-rounded protection, motorists should consider comprehensive, collision, and medical payments coverages. This way, you, your vehicle, and passengers are covered if the unthinkable strikes.

Are you looking for auto insurance in Omaha, NE? Please consider Ed Thompson Insurance Agency for all your auto insurance needs.

Is Commercial Insurance A Must in Nebraska?

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If you are a small business owner in Omaha, NE it’s fundamental to understand the Nebraska business requirements. Establishing a business is an income-generating project though it comes with unique inherent risks. These risks can sometimes interfere with your business operations. However, acquiring spectacular commercial insurance from Ed Thompson Insurance Agency will safeguard your profits as your business thrives. Do you need commercial insurance in Omaha, NE to guard your business venture as it thrives to its full potential? We at Ed Thompson Insurance Agency customize insurance plans designed to suit your business insurance needs and budget.

Is commercial insurance a must in Nebraska?

Commercial insurance is not legally required in Nebraska. Nevertheless, the law requires every business entity with one or more employees, whether seasonal or permanent, to maintain workers’ comp insurance to cater to medical expenses for work-related injuries and general sickness. The state-advocated coverage requirement is inadequate. Therefore, scouting for other optional coverages is paramount. They include:     

General liability coverage: Imagine what can happen when your customer sustains an injury at your business premises? This policy safeguards your business from claims of bodily injury or property damage from third parties. In addition, it’s designed to cater to the probable medical bills, libel, slander, and related legal fees.

Commercial auto insurance: If your business venture owns vehicles, this type of policy is best suited for this purpose. It covers damages and injuries inflicted on other people if your driver is found legally responsible for the occurrence of an accident.

Data breach insurance: Did you know that your online business in Omaha, NE is susceptible to cyber-attacks? Worry no more because you can avert this malpractice by investing in a data breach policy. It safeguards your business from data breaches and cyber-attacks.

Do you have outstanding commercial insurance at your disposal in Omaha, NE to avert significant financial ruin that may throw your business operations into disarray? Call or visit us at Ed Thompson Insurance Agency for more information about commercial insurance coverage.

Roof and Hail Damage: Is Your Home Insurance Policy Good Enough?

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Hail is one of the most common severe storm problems globally and may require you to get high-quality help from insurance experts. At Ed Thompson Insurance Agency, we can help Omaha, NE residents understand their coverage options and help to minimize their risk of severe loss. 

Are You Covered From Hail?

Most home insurance policies have what is known as dwelling protection coverage to help against the potential dangers of hail, windstorms, and much more. This factor is essential because hail accounts for nearly three-quarters of all home losses caused by severe storms every year. 

What will your policy help you pay? Typically, it helps to handle things like rebuilding the home’s physical structures, repairing anything damaged on the house (like your roof), and may help to cover other areas of the roof affected by the hail, such as air conditioning systems and more. When filing a claim for hail damage, follow these steps:

  • Note the date of the hail storm 
  • Please take photos of the damage to make it clearer 
  • Pay attention to every element of your paperwork 
  • Have your agent look over your claim first 

Follow these steps, and you should have little difficulty getting the money you need after a severe hail storm. Make sure, though, that you check your policy before a storm occurs. If you find that you don’t have any protection, you need to upgrade your insurance right away to avoid severe financial loss. 

Get the Help That You Need Today 

If you find that you’ve been having a lot of hail storms, and you want to protect your roof and your home, please contact us at Ed Thompson Insurance Agency right away to learn more. We serve the Omaha, NE, area and will give you the help needed to decrease your risk of severe roofing damage.

What Are Nebraska’s Uninsured Motorist Requirements?

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Omaha, NE motorists must carry certain types of minimum amounts of insurance coverage. Additionally, all drivers must have proof of insurance with them when driving a vehicle. One of those requirements is purchasing uninsured and underinsured motorist coverage. This policy compensates you for injuries you have from an accident when the other driver is uninsured or does not have sufficient insurance. For additional information about uninsured and underinsured motorist coverage, call the agents at Ed Thompson Insurance Agency. 

Nebraska Auto Insurance Minimums

State law dictates how much insurance Nebraska motorists must purchase. These insurance options are the bare minimum motorists must have; however, there are many other options available providing greater insurance protection. The current minimum requirements include: 

  • Bodily Injury Liability Coverage — $25,000 per person and $50,000 per accident
  • Property Damage Liability Coverage — $25,000 per accident
  • Uninsured/Underinsured Motorist Bodily Injury Coverage — $25,000 per person and $50,000 per accident

Why Carry Uninsured and Underinsured Motorist Coverage?

Accidents can happen without warning, and every claim is unique. That is why state minimums are set to ensure all drivers on the road carry some form of auto insurance. However, not everyone follows the rules. Uninsured and underinsured motorist coverage protects you against those who do not have the proper insurance coverage. This policy covers you from financial disaster having to pay medical expenses related to an accident someone else who does not have insurance caused.

According to the Insurance Research Council, there are more than 95,000 drivers in Nebraska without auto insurance. If you live in Omaha, NE, and would like additional information about uninsured and underinsured motorist insurance coverage, call to speak with an agent at Ed Thompson Insurance Agency. 

Common Risks Small Businesses Face

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Business owners face risks every day in Omaha, NE. Though these risks are not the same as homeowners face, they are still risks that require insurance protection. In addition, some risks business owners face are more significant than others and need different kinds of insurance coverage. After reading this, give us a call at Ed Thompson Insurance Agency for help answering all of your business insurance questions. 

Below are common risks business owners face: 

Liability Risk

Regardless of the type of business, all businesses face a liability risk. Common liability risks include bodily injury, physical damage, and failure to meet contractual obligations. A general liability insurance policy protects you and your employees whenever conducting business for accident-related damages your company is liable to cover. 

Property Risk

All businesses face property risks. Having adequate commercial property insurance protects you against accidents, hazards, and natural disasters that could impact your inventory, equipment, and physical property. 

Commercial Auto Risk

Auto use related to your business includes taking employees out to lunch, making a delivery, or traveling to a meeting. Commercial auto insurance protects your business when a personal or company vehicle is used for any business-related purposes. 

Business Interruption Risk

Unexpected events, such as a fire or natural disaster, could force a business to close. The closure presents a risk of lost revenue, negatively impacting business operations. Business interruption insurance covers the company should it be forced to close, including all fixed expenses, relocation costs, and lost revenue. 

Cyber and Data Risk

Cyber threats and data breaches are rising and becoming increasingly common. As more of our business is conducted online, we have a greater need to protect ourselves from these threats. Cyber liability insurance covers your business against these threats by providing legal coverage, notification costs, and providing system disruption coverage. 

Omaha, NE business owners need to ensure they are protected from all possible risks. Call the experts at Ed Thompson Insurance Agency today for additional information about potential business risks and how to keep yourself and your company protected. 

How to Choose a Home Insurance Policy

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Home insurance is an excellent investment for anyone who wants to protect their home. You can be confident, knowing that in the event of a disaster, you are protected against financial loss. However, when choosing a home insurance policy, some people may not be sure how to choose a policy. Ed Thompson Insurance Agency explains to Omaha, NE residents how to choose a home insurance policy.

Understand Insurance

For you to choose the right policy for yourself, you have to understand how home insurance policies and coverage work. With that information, you are aware of what is required of you to make informed choices.

Evaluate Your Needs and Know What is Covered

Before choosing a policy, it will be good if you assess your needs first. There is a lot of information online, and you can also talk to various insurance agents to analyze what specific policies require. Depending on your needs, get to know what is covered and if it is satisfactory. For instance, comprehensive coverage is not the same as basic coverage. And depending on your financial ability and valuables, you need something that will offer you a good cover. In the end, research is an essential aspect of choosing a policy.

Accurate Estimates

When choosing a policy, ensure you have the correct estimates for the cost of rebuilding your home and replacing the contents inside. A proper estimate is the only way to know you are choosing a policy sufficient to cover your needs.

Fill The Application Correctly

When you are filing an insurance application form, you need to fill it accurately. There are essential things you will be asked about, like various features of your home. This is not a guessing game but rather an opportunity to ensure you are picking the right policy. Also, if you give wrong information, your claim may be turned down.

If you are looking to purchase a home insurance policy in Omaha, NE, speak to Ed Thompson Insurance Agency, where we will help you pick a policy depending on your needs.

4 essential home insurance coverages every first time owner should buy

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Buying a new home comes with a mixture of excitement and worry as there are many considerations to make, such as location, size, neighborhood, property taxes, packing, and so much more. Unfortunately, many people in Omaha, NE end up dwelling on the aesthetics and overlook the importance of getting proper home insurance. At Ed Thompson Insurance Agency, we recommend giving home insurance a priority as it protects your investment. Here are the four critical coverages you should seriously consider buying as a first-time homeowner.

1. Personal property

Your personal property makes up your home, and your things are probably the first thing you would want to save in the event of a fire or natural disaster. Your clothing, appliances, furniture, and even personal collections are covered under personal property coverage.

2. Additional living expenses (ALE)

Ever thought about what would happen when a disaster brings down your home? Of course, you would be lucky if you had ALE as it would allow you to live in a hotel or home in Omaha, NE to get your life back to normal as your home undergoes repair.

3. Dwelling and other structures

The dwelling coverage compensates you for damage to the interior and exterior of your house. The areas covered include the wall, floor, and ceiling. If you have other structures on your compound, such as a detached garage, other structures’ coverage helps protect them in the event of a fire or any other covered disaster.

4. Liability

You will need liability coverage whether you live alone, with a spouse, or parents. You never know when you will be slapped with an expensive lawsuit. Remember your guest or neighbor can sue you for injuries or property damage. The last thing you want is to start taking new loans after buying a new home. 

For more information, questions, or policy discussion contact, Ed Thompson Insurance Agency today.