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Written by Adam Miller
Are There Gaps In Your Insurance Coverage?

Disasters and life events always bring with them lessons for the future, whether you're directly impacted or have just narrowly avoided a disaster. These lessons may come from natural disasters like Hurricane Harvey, life events like medical emergencies, or accidents like a car crash. In these situations, consumers can learn something about their financial security and protection when it's needed most. One of the more common things people learn after a disaster is that they might have a gap in their insurance coverage. In today's Aegis blog post, we look at three areas in which you might have a gap in insurance coverage, and what can be done to close the gap.

Personal or Commercial Property

Hurricane Harvey directly affected thousands of homeowners and businesses across Texas, and millions more narrowly avoided floodwaters and storm damage. Some of those directly impacted by Harvey's floodwaters discovered too late that they had gaps in coverage, and had no Flood Insurance to help when they needed to repair or replace property lost to Harvey. For the many others who came close to having flooded out homes and businesses, they can close gaps in coverage by getting Flood Insurance now, and also by reevaluating their Homeowners, Commercial Property, or Renter's Insurance to ensure their policy amounts will cover their current assets. Because we often accumulate assets and property over time, original policy amounts might not cover the current amount of assets inside a home or business.

Auto Insurance

Policyholders can have gaps in their Auto Insurance coverage as well, whether for personal or commercial vehicles. For example, if a car owner changes jobs and now works in an area with higher crime rates, he or she might be more likely to have their car stolen, vandalized, or damaged, and would need more coverage to account for this. Likewise, business owners typically have Commercial Auto coverage for company vehicles, but might need additional coverage if they also have employees using their own cars or trucks for business purposes.

Life Insurance

One of the most important financial decisions we can make is securing enough Life Insurance to meet the needs of surviving loved ones. Too often, people underestimate how much financial assistance will be needed to replace lost income, cover outstanding debts, provide for future expenses and purchases, and give peace of mind to family members. In order to avoid a gap in life insurance coverage that could leave beneficiaries scrambling to cover bills, secure an ample Life Insurance policy now that provides for immediate and long-term needs.

Gaps in insurance coverage can result in unnecessary stress and heartache for individuals, families, and businesses trying to piece things together after a disaster. Aegis Insurance & Financial Services strives to ensure all clients have the Personal and Commercial Insurance protection needed to cover the disasters and life events that can come our way. If you would like more information on the full range of Personal and Commercial policies offered by Aegis, contact us at 713-850-7622, or fill out our online form to request a free quote today!

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