PROTECTING YOUR FAMILY, YOUR ASSETS AND YOUR LEGACY
Rest assured that our team stands beside you to protect all that you’ve worked hard to achieve and those that you love most.
We have families too, so we get that protecting them matters – a lot! We also understand that as life goes along, your needs will certainly change — and we’re here to make sure your family and future are protected with adequate insurance coverage.
Peel & Holland can address your most complex insurance needs, or simply advise on the basics you need to rest easy, knowing you have us on your side if you have a claim.
Your family has needs unlike any other, so together we will develop a custom insurance plan based on your lifestyle.
We represent hundreds of carriers, so we will find the best available plans to protect the things that matter most to you.
We take care of the details to make it easy for you to switch from what you have today without stress or confusion.
PROTECT ALL THAT MATTERS MOST TO YOU
For most of us, purchasing a home is our single largest investment. You’ve worked, saved and painstakingly made many decisions to make your home just right for you and your family. If an unforeseen event damages or destroys your home, your investment and your family should be adequately protected.
Your Peel & Holland advisor will guide you through many options, starting with these basic components of homeowner’s insurance:
- Dwelling – protects your house and any attached structures, such as your garage
- Other Structures –covers any stand-alone structures NOT attached to your home such as a pool house, detached garage, or shed
- Personal Property – coverage to repair or replace your personal property if it is damaged or stolen in a covered loss
- Additional Living Expenses – helps cover the expense of temporary housing during the repair or rebuild of your home
- Personal Liability – protects you if you are found responsible for another’s injuries on your property or away from home for which you are found legally responsible
- Medical Payments – covers medical costs to guests at your home (not including your family or others who live there) regardless of fault or whether or not you are found legally liable
We know all of these options can be confusing. That’s why for we partner with thousands of individuals and families to ensure they have the right family insurance coverage.
Did you know there are an estimated 10 million auto accidents a year in America? By estimates, you’ll experience some sort of an auto accident once every 18 years. That’s three to four in your lifetime. Obviously, you’ll want to be adequately covered when the time comes. Peel & Holland advisors can evaluate your needs and recommend the auto insurance you need, which will likely include:
- Liability Coverage – covers the physical damage (the other person’s car) and also bodily injury and most states (including Kentucky) require by law that you have this.
- Uninsured Motorist Coverage – coverage if you are involved in an accident where the at-fault party does not have auto insurance; helps protect you and your passengers, covering medical bills and damage to your vehicle
- Medical Coverage – where liability coverage would pay for the bodily injury (and resulting medical bills) or the other party involved if you are at fault, this coverage does the same for you and yours
- Physical Damage –often referred to as “full coverage” – protects you against theft, weather-related damage and accidents and pays to repair damage to your vehicle
Nobody likes writing a check for things like auto insurance, and it can be tempting to go with the cheapest option. As an independent insurance broker, our advisors will evaluate many different carriers to ensure you’re getting a fair price without sacrificing the coverage you need.
While your needs will be different depending on whether you own a small boat or say, a yacht, the common components of a watercraft policy include coverage for:
- Bodily injury liability for expenses related to the injury of another person
- Property damage liability for expenses related to harming another person’s property
- Physical damage for damage to your own property, including your boat and trailer
Additional coverage may be needed if you wish to have comprehensive coverage which would cover theft, vandalism or damage resulting from something other than a collision. Coverage for other specific events or to cover additional losses and/or property may be necessary. This is something your advisor can assist you in determining.
While your auto and/or homeowners insurance policies provide liability coverage, it’s easy for damages to well exceed the common limits of those policies. Umbrella coverage provides additional liability coverage beyond that of your auto and/or homeowners policies. For example:
- Let’s say that you injure someone in an auto accident, and you are considered at fault. Your auto policy has a liability limit (limit meaning the highest amount it will pay) of $250,000 but the other person’s injuries total $500,000. Because your auto policy’s liability limit was $250,000, you are personally on the hook the for the additional $250,000 – which most people don’t have laying around. This is where your personal umbrella coverage would kick in.
Personal umbrella policies provide coverage incrementally from $1 million to $5 million. Trust us, you don’t have to be a millionaire to be sued for a million dollars. Fortunately, personal umbrella policies are generally affordable. We recommend that all our clients have this coverage.
The New Madrid Fault is the most active fault east of the Rocky Mountains, with an average 200 quakes per year. Zigzagging for 200 miles, it threatens Indiana, Illinois, Kentucky, Tennessee, Missouri, Arkansas, Mississippi and other Midwestern states with destructive force. Experts say that it’s not if, but when a significant quake will significantly impact this region of the country.
Earthquake insurance includes coverage for damage to the foundation or basement, the overall structure of the home and damage to the interior of the home. This coverage usually comes with a high deductible, but will provide substantial coverage in the event your home is destroyed as a result of a significant seismic event.
Many insurance companies either do not offer this coverage for many high-risk regions or do so through a separate policy and sometimes separate company than the one in which your homeowners coverage is placed. This can lead to increased cost. If you have property in at-risk locations, talk to a Peel & Holland to understand what is available to protect all you’ve worked hard for.
Health insurance options are constantly changing, and it can be overwhelming to understand how to best protect yourself and your family. We are here to help!
Ranging from the policies offered on your state’s health insurance exchange and those offered on the private market, you have several options for obtaining individual health coverage depending on your unique needs. Some common options we see are:
- Preferred Provider Organization Health Insurance Plans (PPO) – most common plan in which you must receive medical care from doctors or hospitals on the insurance company’s list of preferred providers in order for claims to be paid at the highest level
- Health Maintenance Organization (HMO) – offer a wide range of health care services through a network of providers that contract exclusively with the HMO, or who agree to provide services to members. You will typically need to select a primary care physician (PCP) to provide most of your health care and be referred on to a HMO specialist as needed
- HSA-Qualified Health Insurance Plans –typically PPO plans designed specifically for use with Health Savings Accounts (HSAs). An HSA is a special savings account that allows you to save money – pre-tax – to be used specifically for medical expenses in the future.
- Indemnity Health Insurance Plans – allow you to direct your own health care and generally visit any doctor or hospital; the insurance company then pays a set portion of the total charges.
No one likes to think of their own death which is why 41% of individuals alarmingly have no life insurance. However, we find that most people understand how fragile life is and their desire to care for their loved ones at the time of their death outweighs the temporary unpleasantry of having to think of it.
Term Life Insurance is geared toward younger people because it is more of a temporary plan that only covers you for a period of time, usually 10, 20 or 30 years. If you were to die within that timeframe, a set amount of money would go to the people/person you choose.
Whole Life Insurance is based on the same concept as term, but this policy is forever (or until you die).
- It has a savings account that accrues money. Eventually, it can hit the policy’s coverage amount. At that point, the insurer will let you know that you have the same amount of cash in your savings as they would pay out. At that time, your payments would cease as your determined claim amount that will be paid out is fully funded.
- Along the way, whatever cash you accrue, you can borrow. However, to continue coverage, you’ll have to pay it back.
Universal Life Insurance is much like the whole plan, but with some additional perks.
- Instead of a standard savings account, this also accrues interest.
- You can kick in more money than your payment to take advantage of the interest.
- Not only can you borrow from this account, but you can also skip payments without a penalty (as long as the account has money in it).
Typically, the longer you live, your need for medical care increases, so does its costs. Should an accident, disability or age-related health condition cause you to need in-home care or the use of a nursing home or assisted living facility, these expenses are not covered by standard health insurance.
Long-term care insurance, sometimes referred to as LTC insurance, is a type of health coverage that can help you cover these potential future costs.
- If you’re over 65, there is a 68% chance you will need long-term care.
- 35% of people receiving long-term care are under 65.
- In 2030, the average cost of a nursing home is projected to be $190,600 annually.
These statistics are important for everyone to consider as disability resulting from chronic conditions or debilitating accidents can impact individuals of any age. Even something such as a car accident can create the need for extended in-home care.
We think it is important for individuals of any age to consider this coverage long before you “think you’ll need it.” Likewise, many people will obtain long-term care insurance for their aging parents if they are the ones who will be financially responsible for their care and their parents do not have or cannot afford coverage themselves.
You’ve worked hard to build a life for you and your family. If you were unable to work due to injury or illness, would you be able to maintain your current lifestyle? For most, the answer is, no.
Short-term and long-term disability replaces your lost wages resulting from injury or illness which renders you unable to work for either or short or long-term period of time. (Hence the names!) Short-term disability provides coverage for a limited amount of time, typically ranging from a few months up to a year depending on your specific policy.
Short-term disability policies commonly pay out for events such as:
- The birth of a child
- A lengthy illness
- A debilitating injury
The primary difference between short and long-term disability policies is of course the length of time in which coverage is extended. As such, long-term disability claims can take longer to process. Policies can replace income for several years, until you reach a certain age or recover. Some policies replace income for the rest of your life.
Some disability coverage may be provided by your employer. If so, a Peel & Holland advisor can help you determine if what is being provided is adequate and if not, guide you through evaluating your options. Likewise, if you are self-employed or this coverage is not provided or offered by your employer, our team can help you evaluate your needs and options.
INSURANCE THAT CHANGES as you do
As your insurance partner, we are accessible and ready to help 24/7 — during disaster, accident or loss. We’re with you every step of the way. And when life changes, just let us know. We will happily review your situation and help keep your coverage up to date.
Imagine the peace of mind you’ll enjoy as you provide for your family’s stability in advance, so if adversity comes — they’re covered.