The Herald Bulletin

Morning Update

Local Business

August 30, 2013

'Big Joe' Clark: Your current insurance doesn't cover as much as you think

When you think of insurance the first things to pop in your head are probably life, health, homeowners and auto insurance.

It may surprise you to hear that just because you have all four of these major forms of insurance that doesn’t mean there aren't gaps in your coverage. Things like inheritances and commodities can have a large impact on the amount of coverage you may need.

Many homeowners’ policies have a coverage limit for things like jewelry, watches, and stamp collections that are lower than they may expect, and that’s per claim, not per item. So if your home was broken into and a jewelry box was taken or your watch that happened to be a family heirloom was stolen, most people would be stuck once they hit that coverage limit, which only might cover a small portion of what needs to be replaced.

Just like sitting down with a CPA or financial planner to review each year’s tax filings or investments, it’s often a good idea to re-address insurance needs to make sure the coverage you have is appropriate. If you recently inherited your mother’s fine silver or art collection, your insurance needs have now changed.

There are certain types of riders and endorsements that a good insurance agent would be able to go into detail about that can provide the necessary enhancements to your currently policy.

Commodity prices can affect your coverage as well. There are stories daily that discuss the price change in an ounce of gold, but did you know the price of diamonds also fluctuate?

For example, according to a Wall Street Journal piece by Julie Steinberg citing a study done by Luc Renneboog and Christophe Spaenjers, diamonds have produced annualized real returns of 6.4% between 1999 and 2010, compared to global stocks earning an annualized -0.1% for the same time period.

Text Only
Local Business
  • NWS - HB0420 - Funderburk - 04 Man tries to restore father's tainted legacy When news broke earlier this month that the Anderson Dental Clinic had been shut down and several employees, including owner Sally Metzner, had been arrested, Mark Funderburk's main concern was the patients. "A lot of them kept going there because of my dad even after he passed away," he said. "And they didn't deserve this."

    April 19, 2014 1 Photo

  • BIZ - HB0420 - Scott wise -TM Gaining an edge and spreading the word in 2014 Scott owner of Scotty’s Brewhouse with locations in Indianapolis, Muncie, Mishawaka and Bloomington, encourages business owners to interact with customers and use powerful tools such as Twitter, Facebook or even with a blog to their advantage.

    April 19, 2014 1 Photo

  • BIZ - HB0420 - Amys Attic - TM Business Profile: Hidden treasures can be found here Amy's Attic Thrift Store, which opened April 1, offers a variety of different items including clothing, accessories, furniture, yard decorations and collectibles.

    April 19, 2014 1 Photo

  • Business People: April 20 A compilation of news items featuring members of the Madison County business community.

    April 19, 2014

  • NWS-HB0419-IvyTech-JC2.JPG Work begins on new Ivy Tech facility

    Motorists driving on East 60th Street near Columbus Avenue will notice heavy machinery working in preparation for a new educational facility in Anderson.

    April 18, 2014 2 Photos

  • Clark, Big Joe mug [Duplicate] 'Big Joe' Clark: Understanding the risks within fixed income investments Many retirees associate the concept of taking “risk” with the equity markets. However, as 2013 demonstrated, there is also principal risk in the fixed income arena if an untimely liquidation requires you to sell bonds and generate income.

    April 18, 2014 1 Photo

  • Heating assistance provided to 4,445 households Almost 5,000 households in Madison and Grant counties received assistance this past winter with their heating bills, members of the Central Indiana Community Action Program learned this week.

    April 18, 2014

  • Lapel obtains required number The Lapel Town Council finally has enough votes to move forward with its voluntary annexation of land south of the town.

    April 17, 2014

  • NWS - HB0418 - Susan Brooks Educators, agribusiness leaders discuss careers Citing approximately 55,000 new jobs being created annually in agribusiness, U.S. Rep. Susan Brooks brought educators and business leaders together to encourage students to consider it as a career path.

    April 17, 2014 1 Photo

  • Anderson collects nearly $67,000 in bad debt

    The city of Anderson collected almost $67,000 in bad debts owed to the four utility departments in March.

    April 17, 2014

Stocks
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide