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Fall Safety and Security Tips to Implement in Your Business

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Every season of the year poses safety and security challenges. In the fall, the days grow shorter and the nights grow longer, providing greater opportunity for thieves and vandals. Falling leaves can make walkways slippery, increasing accident risks. The following tips can help you reduce the risks for your business during the autumn months.

Install Proper Lighting

We have fewer hours of daylight in the fall. If your business is not well-lit, it could attract burglars and other criminals at night. Adequate interior and exterior lighting can discourage break-ins and make it easier to identify intruders.

Invest In a Professional Security System

A proper alarm system and high-quality surveillance equipment can go a long way toward protecting your business. Many modern security cameras have night vision features, making them effective deterrents against vandalism and burglary in the dark hours.

Drill Security Protocols

Have emergency protocol and alarm system procedures in place, and make sure your employees know them. Get them trained on workplace safety and drill them on emergency procedures. Review arming and disarming the security system with your team.

Update Your Security System for the Fall

Daylight Savings Time ends and the clock falls back an hour on November 3rd. Many businesses run on a different holiday season schedule beginning at Thanksgiving. This can affect card access systems on automatic lock schedules and the opening and closing of alarm systems. Make sure to update all security systems to the correct time.

Clean Up Your Exterior and Landscaping

Overgrown shrubs, trees that need pruning, fallen leaves, and debris can present safety and security hazards. Autumn leaves can make walkways slippery and increase the risk of a fall. Overgrown shrubbery gives criminals a place to hide and can obscure the line of sight for officers or security guards on patrol. Maintaining your landscaping and exterior can not only improve your business image but also reduce safety and security risks.

Be Alert for Shoplifters

When the weather cools down in the fall, people are more likely to wear bulkier clothing. This makes it easier for shoplifters to hide items they are planning to steal. Train your staff to greet customers as they walk in the door (as a courtesy and to let them know they are noticed) and be alert for shoplifting. If a customer is behaving suspiciously, instruct your staff to ask if any help is needed. This lets potential shoplifters know they are being watched.

Have Staff Walk Out Together After Dark

Criminals take advantage of the darker, colder months when it is easier to hide and there are fewer people around to observe them. Instruct your staff to be alert when walking to and from your business, and to walk out together in groups or pairs for greater security.

Review Your Business Insurance Coverage

It is important to have sufficient business insurance for protection against theft, vandalism, accidental injury, or assault on your premises. Fall is a good time of year to review your policies. Our agent can help you find the coverage you need at the best available rates.

Is Lost or Stolen Jewelry Covered by Homeowners Insurance?

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Personal jewelry items can be extremely valuable. For example, the average cost of an engagement ring in the U.S. is $7,829, as reported by Brides.com. A strand of South Sea pearls can be worth more than $100,000, as stated by The Pearl Source. If jewelry is lost or damaged because of a covered peril, such as theft, it is covered by homeowners insurance, up to specific limits.

What Are the Common Covered Perils?

Your homeowners insurance policy will likely reimburse you for lost or damaged jewelry, up to the stated policy limits, if the loss was caused by one of the following common perils:

  • Fire
  • Lightning
  • Theft
  • Explosions
  • Smoke damage
  • Vandalism
  • Hail or windstorms
  • Falling objects
  • Vehicle or aircraft-caused damage
  • Volcanic eruption
  • Riots
  • Water damage
  • Electrical current damage

When Is Jewelry Not Covered By a Homeowners Policy?

Your homeowners insurance will not cover loss or damage to valuable jewelry if it was not caused by a covered peril. For example, if you drop a diamond ring down the drain and are unable to retrieve it, your insurance company is not likely to reimburse you for the loss. The same applies if you accidentally damage a piece of jewelry, for instance, by exposing it to harsh chemicals while cleaning the oven. As standard homeowners policies do not cover flooding, jewelry lost or damaged in a flood is not covered.

How Much Jewelry Coverage Will a Homeowners Policy Provide?

Whatever the policy limits of your homeowners insurance, you cannot apply the entire amount to jewelry coverage. Your policy will specify personal property coverage limits at a certain percentage of the total policy – usually approximately 50%. However, as this type of property is considered easily stolen and of high value, many homeowners policies set coverage limits specifically for jewelry, often as low as $1,000 or $2,000.

How Do You Get More Insurance Coverage for Valuable Jewelry?

Floater

If you have valuable items of jewelry, you may want more coverage for this property than standard homeowners insurance will provide. One way to get it is to purchase an endorsement for scheduled personal property coverage. The cost of this additional coverage will depend on various factors, including the location of your residence and the number and value of the items you want to insure. In addition to increasing your coverage limits for jewelry, this type of endorsement (also known as a floater) may protect you against certain additional losses, such as accidentally losing your engagement ring.

Jewelry Protection Insurance

Another option is to purchase separate jewelry protection insurance. This type of policy is separate from your homeowners insurance, and any claims made against it will not affect your future homeowners insurance premiums. Jewelry protection insurance covers all events, including accidents and damage caused unintentionally, up to policy limits based on the appraised value of the jewelry. Cost is also based on where you live and the number and value of items being insured.

Our agent can advise you on the different options and help you find the best coverage to protect your treasured jewelry items.

Nontraditional Life Insurance Plans You Should Know About

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Traditional life insurance is low risk and offers guaranteed maturity returns to policyholders. Nontraditional life insurance combines investment and insurance in a single policy. These plans invest in the market and have the potential to earn higher returns because of their higher-risk nature. If you have not been able to obtain traditional life insurance, you should know about these nontraditional life insurance plans.

Graded Life Insurance

Graded life insurance may be an option if you cannot get approved for standard life insurance. No medical exam is required. This type of whole life insurance policy comes with a waiting period for full death benefits. The payout is graded on a schedule, depending on how much time has elapsed since you purchased the policy.

Full death benefits are not paid out until after two or three years have passed with graded life insurance. If death occurs during that waiting period, your beneficiaries will receive tax-free benefits, but not the full amount of the policy. They may receive a return of your premiums plus interest (typically 10%) or a graded payment, which is a percentage of the death benefit. Graded policies are better because your beneficiaries will receive more.

As graded life insurance policies are considered high risk, rates are higher than for standard policies. On the plus side, this type of policy builds cash value, and the rates are guaranteed for life.

Although there are some health questions, most people can qualify for graded life insurance — even individuals who have had heart conditions, cancer, or suffered a stroke – provided two years have passed since the occurrence. Graded insurance policies may serve as a last resort for people with major health problems who could not get life insurance otherwise.

Guaranteed Issue Life Insurance

Guaranteed issue life insurance is also known as guaranteed acceptance life insurance or no questions life insurance. It is a permanent, whole life policy that does not require a medical exam. You do not have to answer health questions or allow the insurance company access to your medical records. The insurer guarantees it will issue you a life insurance policy as long as your age is within the allowed range at the time you apply. The age range is typically 50 to 80.

However, this life insurance comes with a catch, which is the waiting period of two years for most policies and three years for some. If your death occurs during the waiting period, your beneficiaries will only get a return of all your premiums plus interest, usually 10%.

Cash death benefits with guaranteed life insurance range from $2,000 to $25,000. These policies have higher premiums in relation to death benefits than other types of life insurance.

Graded and guaranteed life insurance are two options to consider if you have not been able to get standard life insurance. The main disadvantage with both types of policies is the required waiting period during which your beneficiaries will not receive full benefits. Meet with our friendly agent to review all your life insurance options.