Are You In Need of an Insurance Review?

In order to protect your family’s assets or be successful in any business, insuring the “what if’s” is a necessity.  However, if you are not reviewing your insurance policies annually or providing updates regularly, the insurance policy you’re paying for could be worthless in the event of a claim.   Our agency prides itself in ensuring that the coverages in your policies are still relevant to your ever-evolving company or personal circumstances.  Visit our website at to read more reasons to have your insurance portfolio reviewed annually and to keep your agent informed on any changes to your personal circumstances or business operations.

Communication with your agent critical in the relevancy of your policies, because you are directly involved in the day-to-day activity of your business or personal circumstances.  Many insureds do not realize all the small changes that can occur which will affect your insurance policies.  For business insurance, if you have purchased new equipment, additional vehicles, or developed new products or services, additional coverage may be needed to ensure these items are covered. On the other hand, if your business has sold equipment or had lower than expected revenues, you will want to remove the sold property and you may want to lower your policy limit in order to accommodate reduced revenues.

Personal insurance is just as important when it comes to consistent review of your policies.  Whether you upgrade a wedding ring for an anniversary or renovate your home adding value, you will need to notify your insurance agent of these changes. It is possible that your existing policy does not offer sufficient coverage for the new property. When you have a one of a kind art piece or hard-to-replace equipment, you will also need to know at what value the property will be replaced.  Property covered at “actual cash value” takes into account depreciation and may not be sufficient in the case of a total loss or if the item is damaged. For personal insurance clients, we want to ensure that newly purchased items are scheduled so that the home deductible does not apply if the item is lost, stolen or damaged.

Business owners should also consider any changes that have been made to the vehicles used for their business. If a new vehicle has been purchased for the business, you may need to increase the limits on your policy in order to protect its value fully. Conversely, if your company vehicle has lost value during the year or is sold, you may want to lower your auto policy limit in order to accommodate its reduced value. This will also reduce your premium—usually a very welcomed concept to business owners.

Another consideration you should make when evaluating your business insurance each year is the addition of coverage for any new business ventures that have developed. Current policies will not extend to the new business if not properly endorsed or if the venture is completely separate from current business operations of the currently covered entity. New lines of business could pose increased risk to the insurer and may even have certain facets that need additional endorsements for your policy or cause the carrier to decline coverage altogether.  For this reason, you should consult your commercial insurance agent prior to adding additional services, acquiring or starting a new business venture.

Our agency automatically provides annual and ongoing reviews to current client policies and also provides opportunities throughout the year for our insureds to update their profile and coverages if changes occur.  There is no risk –only rewards- in having the J. Archer Insurance Group provide you and/or your company with a complimentary review of your current insurance portfolio.  Let our team of experienced agents review current coverages, then customize a recommended portfolio package.  For new clients the process is simple.  First we gather background information about you or our business’ unique circumstances and discuss insurance goals.  Next, we request information regarding your current coverages and any losses sustained within the last five years.  Then we approach markets & carriers to determine what coverages and at what premiums they can provide or negotiate.  After proposals & quotes are received, they are reviewed to determine which provide the most expansive coverage for the greatest value.  Finally, we customize an insurance portfolio proposal that addresses your immediate needs and provides recommendations to address other potential risks (i.e. gaps in coverages, areas where you may be over/underinsured, or coverages that will provide protection for risks or property not currently covered, etc.).

Whether you choose to move forward with some or all of our recommendations, there is no obligation once we provide you with a complimentary review.  We know that you’ll only move your current insurance or work with our agency, if we can save you money and/or provide value with our services.  We are confident that we can exceed your expectations, so we are happy to set up a meeting at a time and place that is most convenient for you to start the process.

To learn more about our agency, insurance products, partners/carriers and more, visit us at www. ARCHERINSGROUP.com.  For questions, or to schedule a complimentary insurance review, contact us 281.501.8331.

Written by

Johnte' Archer is the CEO/Agent of Record for J. Archer Insurance Group (Archer Commercial Insurance Group and J. Archer Insurance Services). She received her undergraduate degree from the University of Houston and her law degree from Pepperdine University School of Law in Malibu California.