How to create and store a home inventory

Posted on July 29, 2022July 19, 2023 by admin

You will never really appreciate how valuable a home inventory is until you have to file a claim. It is time-consuming, there is no doubt, but it will save a lot of stress when you need to let the insurance company know what you have lost. At Wilcoxon Insurance Inc. in Sioux Falls, SD we will be there for you when you need us.

Home Inventory: A Comprehensive Guide

Have a plan before you start to create your home inventory. Pick a room to start in and don’t move on to the next room until you have recorded everything in that room. Open drawers, look in closets, count the pictures on the wall, and leave no stone unturned. Give as much detail as possible in your description, including model names and numbers. Take pictures of the room from a variety of angles, especially focusing on any expensive items. If you have receipts, attach them to the page.

Take your time and make sure you include everything. When you have completed all the rooms, head for the attic, basement, and garage. Don’t forget to include things like your cell phone which may be in your purse or pocket.

After the inventory is complete, it is important that it be placed in a safe place where in the event a hazard hits your home, you will be able to access it. It is better to store it away from the home so that you can be sure that it will survive. At the very least it should be in a fire and waterproof case. It is a good idea to have more than one copy and, ideally, storing one in the cloud will guarantee that it will survive and you will be able to use it.

Give Us A Call

Contact Wilcoxon Insurance Inc. in Sioux Falls, SD when you are looking for a new insurance agent or need your home policy reviewed.

What to Look for in a Good Renters Insurance Policy

Posted on June 30, 2022July 19, 2023 by admin

Anyone who has ever rented an apartment or house knows that there are many things to consider when it comes to protecting your home and belongings. Remember your landlord’s policy will not cover your personal belongings in the event of a fire, theft, or other disasters. That’s why you need renters insurance. But with so many different policies available, it can be difficult to know what to look for when choosing the right one for you. Wilcoxon Insurance Inc. in Sioux Falls, SD provides this guide on navigating this important coverage.

Here are a few things to remember when shopping for renters insurance

1. Coverage Limit

The coverage limit is the first thing you’ll want to look at when considering a renters insurance policy. This is the maximum amount of money the insurer will pay out if your belongings are damaged or destroyed. It’s important to choose a policy with a coverage limit that is high enough to cover the value of all your possessions.

2. Deductible

The deductible is another important factor to consider when choosing a renters insurance policy. To understand what a deductible is, it’s important to first understand how insurance works. Essentially, an insurance policy is a contract between you and the insurer in which you agree to pay a premium in exchange for the insurer agreeing to pay out a certain amount of money if you experience a covered event. However, before the insurer will pay out any money, you must first pay the deductible. Choosing a policy with a deductible that you can afford to pay if something happens is important.

3. Policy Exclusions

When you’re shopping for renters insurance, you’ll also want to be aware of what is excluded from the policy. Most policies will exclude items such as jewelry, art, and other valuables from coverage. It’s important to check with your insurer to see what is excluded to ensure all of your belongings are protected.

Contact Us Today

Now that you know what to look for in a good renters insurance policy, it’s time to start shopping around. Wilcoxon Insurance Inc. in Sioux Falls, SD offers a variety of different policies to meet your needs. Contact us today to learn more about our coverage options and get a free quote.

What is the value of having a motorcycle insurance plan in South Dakota?

Posted on May 31, 2022July 19, 2023 by admin

Having a reliable mode of transit in the Sioux Falls, SD area is quite important. As you are looking to drive a motorcycle when you are here, it would be a good idea to have proper insurance for it. As you are looking for this insurance, you will find that it offers various forms of coverage and benefits that make it a good option and investment.

The Value Of Having A Motorcycle Insurance Plan

Reduce Liability Risks

An important reason for anyone to get a proper motorcycle insurance policy in this area of the state is to reduce the risk of liability. There is always going to be a risk that you could cause an accident when you are operating your motorcycle. In these cases, you will have to pay for any damage that you cause. If you get motorcycle insurance, it will provide the support you need if you cause an accident.

Protect Asset

You also should have motorcycle insurance to protect your asset. There is always a big cost that comes with purchasing a motorcycle. To ensure this investment pays off, you should consider investing in your own motorcycle insurance plan. If you get the right coverage, it will provide the support you need to ensure you can replace or repair the motorcycle if a loss is incurred.

If you want to be a motorcycle owner in the Sioux Falls, SD area, it would be a good idea to get a proper insurance plan for it. There are a lot of choices that you need to make here and calling the team with Wilcoxon Insurance Inc. is a good first start. If you work with Wilcoxon Insurance Inc., you will get to learn much more about your different insurance options and how they can protect you.

A Beginners Guide to Home Insurance

Posted on April 29, 2022July 19, 2023 by admin

Although home insurance may be optional if you don’t have a mortgage, it is really an absolute necessity. Given that your home is likely your most expensive purchase and investment, the cost to repair or replace it after a storm or incident is likely to be unattainable for many. Luckily, insurance is here to help by covering certain incidents up to your policy limits. At Wilcoxon Insurance Inc. in Sioux Falls, SD we understand that insurance can be complicated, so keep reading to learn more about home insurance.

When shopping for a homeowners insurance policy, you’ll want to find one that fits your needs. Generally speaking, the policy you purchase should include enough coverage to do the following:

Rebuild your home if it is deemed a total loss.
Replace your personal belongings such as furniture, clothes, jewelry, and electronics.
Cover the cost of medical bills and legal fees associated with a third-party liability claim that happens on your property.
Offer coverage to pay for living expenses, also known as loss of use, if your house is uninhabitable after a covered loss.

The cost of homeowners insurance is largely dependent on where your home is located and the coverage amounts that you choose. If you are looking to lower your rates, consider raising your insurance deductible or the amount that you must pay before the insurance company does, bundle your other insurance policies together, and maintain a good credit score.

If you are a new home buyer in Sioux Falls, SD, Wilcoxon Insurance Inc. is here to help with your insurance needs. Give us a call today to learn more about homeowners insurance and the services offered by our team.

Motorcycle Insurance Requirements in South Dakota

Posted on March 31, 2022July 19, 2023 by admin

Under South Dakota penal code SDCL 32-35-113, an owner of a registered motorcycle must maintain financial responsibility via motorcycle insurance, a bond with a surety company, or a certificate of deposit for $50,000 on deposit with the South Dakota Treasurer’s office. Additionally, South Dakota requires that any registered motor vehicle carry the following minimum insurance requirements:

$25,000 for death or bodily injury to one person
$50,000 for death or bodily injury to two or more persons
$25,000 for damage or destruction of property

While this coverage may seem appropriate at first, a motorcycle accident resulting in serious injury or property damage will exceed these limits. Any amount over your policy coverage limit becomes your financial responsibility. As a result, it is best to purchase additional liability insurance that better safeguards you from lawsuits and damages related to an accident.

Additionally, South Dakota is an “at fault” insurance state which means that you are liable for any damages occurring from an accident that you are deemed to be at fault in. If you do not have insurance or it is insufficient, you could face a suspended license, jail time, and lawsuits. In addition to liability insurance, optional coverage includes collision, comprehensive, uninsured/under-insured motorist, and bodily injury. At Wilcoxon Insurance Inc. in Sioux Falls, SD, we will take the time to learn about your unique circumstances to recommend the best motorcycle insurance policy that meets those needs. Call us today or stop by our conveniently located office in Sioux Falls, SD to learn more about our insurance offerings.

What Does Renters’ Insurance Not Cover?

Posted on February 15, 2022July 19, 2023 by admin

When you move into an apartment, you might be required by your landlord to get renters’ insurance and prove that you’ve gotten it. If this is the case, you want to learn as much as possible before you get your policy. Talk to an agent from Wilcoxon Insurance Inc. of the greater Sioux Falls, SD area so that you know what is not covered by your policy.

Here are some common things that aren’t covered by renters’ insurance:

Natural Disasters

Typically, natural disasters like sinkholes, earthquakes, and flooding won’t be covered under renters’ insurance policies. You will be able to set up additional policies such as one that’s specifically for flood insurance.

Automobile Damages

If an item(s) is stolen from your vehicle, renters’ insurance is likely to cover it. However, it won’t apply to any damage that’s done to your car itself. If your entire car is stolen, renters’ insurance also will not cover any replacement for the current value or otherwise.

Undocumented Items

If there are items that you can’t prove you owned or at least can’t prove the value for them, you may be out of luck. You should hold onto receipts at all times, especially for those items that you know you’ll want to have replaced or repaired should something happen to them.

Roommate’s Items

If you have a roommate, but the renters’ insurance is only under your name, their items aren’t going to be covered under your policy. It may be a different case if the roommate is related to you by marriage, blood, or adoption.

Renters’ insurance may be tricky to figure out, but you’ll benefit from discussing your options with a Wilcoxon Insurance Inc. agent. Serving the Sioux Falls, SD area, we are happy to help new customers at any time. Give us a call or fill out our online form to get more information.

What auto insurance coverage is required in South Dakota

Posted on January 24, 2022July 19, 2023 by admin

When you own a vehicle, it comes with some risks. You need to protect yourself from the risks that come with driving. The state of South Dakota has auto insurance requirements that all drivers are mandated to follow. At Wilcoxon Insurance Inc. in Sioux Falls, we make sure that all of our customers understand the law and have the insurance they need to stay on the right side of the law.

In South Dakota, you need to show proof of financial responsibility. The easiest way to do that is with auto insurance. The amount of coverage you must have is 25/50/25 plus uninsured motorists. This breaks down as $25,000 for a single person injured in an accident where you are the responsible driver, $50,000 for the entire amount of injuries in an accident, and $25,000 for property damage. The uninsured and underinsured motorist coverage needs to be at least the amount of the minimum required for injuries.

If you have an auto loan, your lender will require that you have coverage to protect your vehicle as well. That means having comprehensive and collision coverage. Collision coverage protects your vehicle from damage due to a collision. It can be with another vehicle when you are responsible, it can be a one-vehicle accident or even a hit-and-run. There is a deductible of your choosing with this coverage.

Comprehensive coverage is for damage your vehicle sustains that is not caused by an accident. It also covers you for the theft of your vehicle and for glass damage. The types of other coverage it provides are for things like hail and wind damage, flooding, and a deer that runs in front of your vehicle.

If you need your vehicle, having this coverage is a good choice.

Contact Wilcoxon Insurance Inc. in Sioux Falls, SD when you are in the market for auto insurance.

Motorcycle Insurance Coverage Options

Posted on December 13, 2021July 19, 2023 by admin

If you have a motorcycle, it is important that you protect it through an adequate insurance policy. The agents at Wilcoxon Insurance Inc. in Sioux Falls, SD wants you to know and understand the options you have available to you when it comes to motorcycle insurance.

Motorcycle Insurance Requirements in South Dakota

The state of South Dakota requires that all motorists, including motorcyclists, have at least a liability insurance policy in place that will assist in paying the medical bills and property damage sustained by others in an accident that you have caused.

Underinsured or Uninsured Coverage

If you become involved in a crash with a motorist who does not have any insurance coverage or not an adequate amount to cover damages to your bike or injuries to yourself or your passenger, this type of policy will help with those costs.

Comprehensive Motorcycle Insurance

If you borrowed the money to purchase your bike, your lender may require you to have comprehensive coverage in place to protect the investment the lender made in your motorcycle. Even if you do not owe money for your motorcycle, this is a great policy to have since it will help cover damages to your bike if it is damaged or destroyed by a fire, an act of vandalism, theft, or a natural disaster.

Collision Motorcycle Insurance

Collision motorcycle insurance coverage will help you pay for any damages that occur to your motorcycle if you collide with another vehicle or with a stationary object. For example, if you hit a garage door while driving your bike, this part of your policy will pay for damages to your motorcycle as well as the garage door.

Get the Proper Motorcycle Insurance Coverage

To create a motorcycle insurance policy that is right for you and your situation, contact that experienced and trusted agents at Wilcoxon Insurance Inc. in Sioux Falls, SD today!

South Dakota Home Insurance: Why You Need Home Security

Posted on November 29, 2021July 19, 2023 by admin

When you have a home, you have a building filled with your dreams. Protecting those dreams is the greatest benefit to home security. Of course, it helps with your home insurance as well, but that’s because you are lowering the risks of property and contents damage.

At Wilcoxon Insurance Inc., we want Sioux Falls, SD homeowners to be safer in their homes.

Learn about these key benefits of home security.

Protecting Your Valuables

Of course, a home security system is intended to protect humans in the home, but it also protects your valuable possessions. You may not think you have that much, but in the eyes of the insurance company, you do.

A good home security system will help you to keep the things that you’ve worked your entire life for.

Deterrent

Security systems will minimize your risk of becoming a victim of a crime as they serve as a deterrent. Criminals do not want to get caught.

When people around your home know that you are monitoring your property, they are less likely to try and get in. It won’t deter everyone, but it will deter many. That’s more peace of mind than you would have without one.

Remote Access

Today you can get security cameras for your interior for very affordable rates. Many will sync with your phone and you can get a live view, remote notifications, and see what is happening as it happens.

This allows you to handle vandals remotely, and also detect problems remotely. It may not be a vandal. It could be a fire, a water leak, any problem at all that could put your property at risk or peril.

Security systems make sense as they reduce risks. This is why your home insurance company likes them so much. You will too.

Get a Quote

To see the impact a home security system can have on your home insurance, get a quote to update your policy. At Wilcoxon Insurance Inc., we want Sioux Falls, SD homeowners to feel safe in their homes. We can help you update your policy to reflect more security and peace of mind. Call us for a quote today.

What is Renters Insurance and Why Do I Need it?

Posted on October 15, 2021July 19, 2023 by admin

The Sioux Falls, SD area is continuously sprouting, proving to be a rich metro area in terms of population. As more people reside within this city, they will opt to rent a home as a better and more affordable option. Did you know that the homeowner’s policy held by your landlord is not financially liable for the protection of your belongings when unforeseen events strike in Sioux Falls, SD? Be wise and safeguard what you own, no matter little it seems. Don’t hesitate to speak to our agents at Wilcoxon Insurance Inc. to get renters’ insurance that matches your needs and lifestyle.

What is renters insurance?

It’s a form of property insurance that shields imminent losses to personal belongings and safeguards the insured against liability claims. These liability claims entail those happening in your rental and don’t culminate in a structural problem. Renters insurance safeguards anything from a studio apartment to an entire apartment. Investing in renters insurance is an absolute need for the following reasons:

Protect your personal belongings

Have you ever imagined what can transpire when your possessions get damaged in your rental house, forcing you to start from scratch? What happens when a covered peril like a fire strikes in your rented dwelling? Buying condo insurance in Sioux Falls SD can safeguard your personal property when unexpected eventualities strike.

Provides liability protection

Suppose electrical faults emerge in your rented apartment, triggering a fire that spreads to neighbouring rooms? Though this incident might be a result of an accident, it can land you with liability claims. Luckily, if you have invested in renters insurance, it kicks in and covers liability claims such as bodily injuries and property damage to third parties.

Provides additional living expenses coverage

This form of policy caters to additional expenses such as hotel bills when your rented apartment becomes uninhabitable after being ravaged by a covered peril. It settles excess spending you indulged in as your condo was being repaired.

Do you want to safeguard yourself and your personal property in Sioux Falls, SD? Its crystal clear that replacing your personal belongings attracts a substantial amount, which could prove to be an uphill task. Call or visit our Wilcoxon Insurance Inc. today and get more information about renters insurance.

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