Insurance and the Sharing Economy: Coverage for Airbnb Hosts

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Welcome to the era of the sharing economy, where your spare bedroom—or even your entire home—can become a lucrative side hustle. Platforms like Airbnb have revolutionized travel and hospitality, letting regular folks turn into short-term rental hosts with the tap of an app.

But here’s the million-dollar question:
Are you insured? Like, really insured? 😬

If you’re renting out your property through Airbnb or similar platforms, your standard homeowners or renters’ insurance might not cut it. So, let’s break down what you need to know about insurance for Airbnb hosts, and how to protect yourself, your guests, and your home sweet home. 🛏️✨

🧠 Why You Need Special Insurance as an Airbnb Host

It’s easy to assume your regular homeowners or renters’ policy has your back. But here’s the catch: once you start making money by hosting guests, your property is considered a business—and that’s a whole different ball game for insurers. 🕹️

Standard policies often exclude short-term rentals from coverage. That means if something goes wrong—like a guest accidentally floods your bathroom or throws a wild party—you might be left paying out of pocket.

Yikes. 😱

🛡️ What Airbnb Offers (and What It Doesn’t)

Airbnb provides two major programs to help hosts feel more secure:

1. Airbnb Host Guarantee

  • Offers up to $1 million in property damage protection

  • Covers damage caused by guests

  • BUT: It doesn’t cover everything—like cash, pets, or shared spaces

2. Airbnb Host Protection Insurance

  • Provides up to $1 million in liability coverage

  • Protects against guest injuries or damage to others’ property

Sounds good, right? Yes and no. While these programs are helpful, they come with limitations and exclusions—and Airbnb isn’t an insurance company. So relying on them alone is risky business. 🤔

🧾 What Kind of Coverage Should You Get?

If you’re hosting regularly, here are the insurance options you should explore:

✅ Short-Term Rental Insurance

This is custom-built for hosts. It fills the gaps left by standard policies and covers:

  • Property damage caused by guests

  • Liability for guest injuries

  • Lost income due to property damage

  • Legal expenses if you get sued

✅ Commercial Insurance Policies

If you’re managing multiple properties or renting full-time, a commercial policy might be the way to go. It’s more robust, though it comes at a higher cost.

✅ Homeowners Insurance Endorsements

Some insurers now offer endorsements or “add-ons” to your existing policy to cover short-term rentals. It’s a more affordable option for casual hosts.

📌 Pro Tips for Airbnb Hosts

  1. Talk to your insurer 📞 – Let them know you’re hosting. Honesty prevents denied claims.

  2. Screen your guests 🔍 – Airbnb gives you tools to vet who’s staying in your home.

  3. Document everything 📸 – Take photos before and after each guest’s stay.

  4. Create house rules 📖 – Clear expectations reduce the risk of incidents.

  5. Consider an umbrella policy ☂️ – For added liability protection.

🧳 Final Thoughts

Hosting on Airbnb can be incredibly rewarding—but it comes with risks. Don’t let a surprise accident or lawsuit drain your income (or your peace of mind). With the right insurance strategy, you can host with confidence, knowing you’ve got a safety net beneath you. 🕸️

Whether you’re renting out a lake house once a summer or running a full-time Airbnb business, insurance should be a key part of your plan. Protect your property, your guests, and your future—because in the world of home-sharing, being prepared is just smart hosting. 💼🏠💡

You can experience the benefits of being a part of a full-service Independent Insurance Agency today! Simply contact Briggs Agency, Inc. if you are interested in an insurance review at 219-769-4840 or visit our website at www.BriggsAgency.com. We look forward to hearing from you!

Blog post written by: Zachary Pelke

Step-by-Step Guide: How to Factor Insurance & Bonding Costs Into Your Construction Bids

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When you’re bidding on a commercial construction project, every dollar matters. One of the biggest mistakes small to mid-size contractors make is not properly including insurance and bonding costs in their bids. Underestimating these costs can eat away at your profit margin—or even turn a winning bid into a loss.

Here’s a step-by-step approach to make sure your numbers are right:

Step 1: Review the Project’s Insurance Requirements

Start by carefully reading the contract documents. Look for:

  • Required General Liability (GL) coverage limits

  • Any mandated Umbrella/Excess policies

  • Specific Workers’ Compensation requirements for on-site labor

  • Any contractual endorsements or special wording requirements

It’s also critical to have your insurance agent review the contractual requirements in the construction contract. They can help ensure you meet any specific endorsement requirements, additional insured language, or waiver of subrogation clauses that the owner or lender may require. This helps avoid coverage gaps or unexpected liabilities.

Larger projects often require higher limits or additional coverage than your base policy, which means added cost.

Step 2: Estimate General Liability (GL) Cost Based on Payroll

General Liability premiums are often rated using payroll (sometimes gross sales for certain trades). To estimate project-specific GL cost:

  1. Estimate the payroll you’ll dedicate to this project.

  2. Check your GL rate per $1,000 of payroll (you can get this from your policy or agent).

    • Example: If your GL rate is $6 per $1,000 of payroll and the project payroll is $500,000, the GL cost would be $3,000.

If your policy is audited annually, these payrolls will be factored into the audit anyway. By projecting them into your bid, you avoid surprises at year-end.

Step 3: Calculate Workers’ Compensation Cost

Workers’ Comp is also based on payroll, but the rate depends on the classification code of your employees (carpenters, electricians, laborers, etc.).

To estimate Workers’ Comp cost:

  1. Break down your payroll by employee class code.

  2. Multiply payroll in each class by the rate per $100 of payroll.

    • Carpenter rate = $5.25 per $100 → $300,000 ÷ 100 × $5.25 = $15,750

    • Laborer rate = $4.50 per $100 → $200,000 ÷ 100 × $4.50 = $9,000

Don’t forget to include overtime (at straight time for WC purposes) and projected subcontractors who don’t provide proof of insurance.

Step 4: Get a Bond Quote Before You Bid

Performance and payment bonds are often required. Bond premiums are usually 0.5% to 3% of the contract value, depending on your company’s financials and the project size.

Instead of guessing, request a bond quote early in the bidding process. One effective strategy is to establish a “bonding line of credit” with a surety company. This lets you:

  • Know ahead of time what your bond cost will be for future projects.

  • Streamline the application process when bidding on multiple jobs.

  • Avoid delays or surprises during the contract award process.

By having a bonding line of credit, you essentially pre-qualify with a surety, giving both you and the project owner confidence that you can secure bonds quickly and efficiently.

Step 5: Treat Insurance & Bonding as Direct Job Costs

Don’t bury these costs in your general overhead. If a project requires additional insurance or bonding, treat it as a direct job expense and bill it to the project. This protects your margins and keeps your bids competitive and realistic.

Step 6: Use Insurance & Bonding as a Selling Point

Your quality insurance program not only protects you, but it protects them as well:

  • Insurance ensures claims and accidents are covered.

  • Bonds guarantee the project is completed and subs are paid.

This positions your company as a professional and reliable contractor, not the cheapest option.

Step 7: Sample Bid Calculation Table

Sample Bid Calculation Table (Enhanced)

 

Cost Component Basis Rate Calculation Cost
Payroll (Total for project) N/A N/A N/A $500,000
General Liability (GL) Payroll $6 per $1,000 $500,000 ÷ 1,000 × $6 $3,000
Workers’ Comp – Carpenters Payroll $5.25 per $100 $300,000 ÷ 100 × $5.25 $15,750
Workers’ Comp – Laborers Payroll $4.50 per $100 $200,000 ÷ 100 × $4.50 $9,000
Performance/Payment Bond Contract Value 1% $1,000,000 × 1% $10,000
Total Insurance & Bonding Costs N/A N/A Sum of above $37,750

Bottom line: By running the numbers step by step—especially for GL and Workers’ Comp—and reviewing contractual requirements with your agent, you’ll avoid underbidding, protect your profit, and show project owners that you’re a contractor who takes risk management seriously.

Contract us for a free consultation: https://briggsagency.com/quote/

Meet our professional independent agents: https://briggsagency.com/meet-our-team/

 

3 Tips to Negotiating Your Business Insurance

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When it comes to protecting your business, insurance is not just a box to check. Property and casualty insurance is a major investment—and like any investment, you should approach it strategically. The good news is, small businesses have more room to negotiate with insurance carriers than many realize. By preparing the right information and presenting your business in the best light, you can often secure better terms, broader coverage, or more competitive pricing.

Here are three practical tips to help you negotiate your business insurance more effectively:

1. Use Your Loss History as a Story of Improvement

Insurance carriers place a lot of weight on your claims history. If your business has experienced losses in the past, don’t just hand over the numbers—use them as an opportunity to show growth.

Explain what happened, what was learned, and most importantly, what steps you’ve taken since to reduce the likelihood of similar issues. For example, if your business had a slip-and-fall claim, highlight how you’ve improved safety protocols, added signage, or trained staff. Turning a loss history into a story of proactive improvement helps underwriters see you as a lower risk moving forward.

2. Adjust Deductibles Strategically

Sometimes negotiating isn’t about asking for a lower premium outright—it’s about finding the right balance between risk and cost. By selecting a slightly higher deductible, you may be able to negotiate a significant premium reduction.

For example, moving from a $5,000 to a $10,000 deductible could lower your annual premium enough to free up cash flow for other business needs. If your claims history is strong, the tradeoff can save your business thousands over time. The key is to choose a deductible level your business can comfortably afford in the event of a loss, while using that flexibility as a bargaining tool during renewal.

3. Compare Options, But Go Beyond Price

It’s natural to shop around for the best premium—but don’t make the mistake of comparing quotes based on price alone. Two policies with the same premium might cover you very differently.

When negotiating, ask questions like:

  • Are replacement costs covered, or is coverage based on actual cash value?

  • What exclusions apply?

  • What deductibles are available, and how do they affect pricing?

  • Are there bundled coverage options (like property, liability, and auto) that could save money overall?

By looking beyond the bottom-line premium, you’ll be able to negotiate smarter—choosing the policy that truly protects your business without overpaying for unnecessary extras.

Final Thought

Negotiating business insurance doesn’t mean going toe-to-toe with an insurance company. It means preparing your story, highlighting your strengths, and understanding your options. Small businesses that take the time to approach insurance this way often end up with better coverage, better rates, and stronger long-term partnerships with their insurance providers.

At Briggs Agency, we specialize in helping small and mid-size businesses in Indiana and Illinois navigate this process. If you’re ready to negotiate smarter for your next renewal, we’d be glad to help.

Contact us to schedule an appointment to review your business insurance: https://briggsagency.com/quote/

What Should I Consider When Insuring Valuable Collectibles?

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🛡️ What to Consider When Insuring Valuable Collectibles

🎨 Tips for Protecting Your Art, Antiques, and Other Prized Possessions

Collecting valuable items—whether it’s fine art, vintage antiques, rare coins, or sports memorabilia—is more than just a hobby. It’s a passion, an investment, and sometimes a legacy. But while collectors often go to great lengths to preserve their treasures, insuring collectibles are one area that’s frequently overlooked.

If you’re serious about your collection, the right insurance coverage is essential. Here’s what to consider when insuring valuable collectibles 👇

1. 📈 Know the True Value of Your Collection

Before you can insure your items, you need to know their worth.

✅ Tips:

  • Get a professional appraisal from a certified expert.

  • Document condition, provenance, and any certificates of authenticity.

  • Reassess values regularly—especially for items that appreciate in value over time.

2. 🏠 Review Your Homeowners Insurance Policy

Don’t assume your homeowner’s insurance fully covers your collection. It often doesn’t.

⚠️ Watch out for:

  • Low coverage caps (often $1,000–$5,000 for valuables).

  • Exclusions for damage, loss, or theft.

  • Limited protection for collectibles during transport or display.

📌 Tip: Ask your insurer about scheduled personal property riders or endorsements for collectibles.

3. 🧾 Consider Specialized Collectibles Insurance

A standalone collectibles insurance policy offers more comprehensive coverage.

👍 Benefits:

  • Covers accidental damage, theft, transit loss, and natural disasters.

  • May offer worldwide protection.

  • Provides agreed value coverage, meaning you and the insurer agree on the item’s value upfront.

💡 Great for: art insurance, antique insurance, and rare collectibles insurance.

4. 🗂️ Document Everything Thoroughly

The better your documentation, the easier it is to prove value and file a claim.

📋 What to do:

  • Take clear photos from multiple angles.

  • Store appraisals, receipts, and provenance digitally (and in the cloud).

  • Keep an updated inventory list with item details.

5. 👩‍💼 Work with a Knowledgeable Insurance Agent

Not all agents are familiar with collectible coverage. Find someone who is.

❓ Ask them:

  • Do you have experience with art and collectibles insurance?

  • What companies do you work with for specialized coverage?

  • What’s the claims process like for high-value items?

6. 🔒 Protect Your Collection Proactively

Even with the best insurance, prevention is key.

🛠️ Tips:

  • Store items in climate-controlled spaces.

  • Use safes, locked cabinets, or professional storage solutions.

  • Install home security systems with monitoring.

✅ Final Thoughts

Your collection is more than objects—it’s part of your story. Don’t let an accident or theft take that away. With the right insurance for art, antiques, and collectibles, and some preventative measures, you can enjoy your collection with peace of mind 🧘‍♂️.

You can experience the benefits of being a part of a full-service independent Insurance Agency today! Simply contact Briggs Agency, Inc. if you are interested in an insurance review at 219-769-4840 or visit our website at www.BriggsAgency.com. We look forward to hearing from you!

Blog post written by: Zachary Pelke

Life Insurance for Stay-at-Home Parents: Why It’s Crucial for Family Security

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Think stay-at-home parents don’t need life insurance? Think again.
While they may not bring home a paycheck, their contributions are priceless—and replacing them could cost your family tens of thousands of dollars a year.

If you’re building a financial safety net for your family, you can’t afford to overlook life insurance for a stay-at-home parent. Here’s why it’s not just smart—it’s essential.

💡 Why Stay-at-Home Parents NEED Life Insurance

Most people buy life insurance to replace income. But stay-at-home parents provide something even more valuable: the services and support that keep a household running smoothly.

From childcare and education to cooking, cleaning, scheduling, and emotional support, a non-working spouse performs dozens of tasks every day. If something were to happen to them, your family would need to find a way to replace those services—quickly and affordably.

📌 Keyword Alert: non-working spouse life insurance, stay-at-home mom life insurance, life insurance for parents without income

💰 The Real-World Cost of Losing a Stay-at-Home Parent

Let’s break it down:

  • Full-time childcare: $10,000–$20,000/year per child

  • Housekeeping: $3,000–$5,000/year

  • Meal services/groceries: $5,000+/year

  • Transportation for school & activities: $$$

  • Emotional toll? Priceless.

Suddenly, a family could be looking at $40,000–$100,000+ per year to replace what a stay-at-home parent provided. Without life insurance, that financial burden can fall squarely on the surviving spouse.

🛡️ Life Insurance = Protection + Peace of Mind

Having life insurance for a stay-at-home parent gives your family time to grieve without being forced into life-altering decisions. It creates a financial cushion that can:

  • Cover childcare and household help

  • Pay off debts or mortgages

  • Help fund your children’s education

  • Keep your family in the home and school they know

  • Allow the surviving parent to take time off work

💬 Searchable Keyword: financial protection for families, life insurance for homemakers

📏 How Much Life Insurance Does a Stay-at-Home Parent Need?

While there’s no perfect number, most experts recommend $250,000 to $500,000 in coverage—sometimes more depending on family size, children’s ages, and long-term goals.

Start by estimating what services would need to be replaced and for how many years. Don’t forget inflation and rising childcare costs.

💲 Is It Affordable? Absolutely.

The great news: Term life insurance—which offers coverage for a set number of years—is extremely affordable for most healthy applicants, especially younger parents.

Even a $500,000 policy can cost less than $25/month, depending on age and health.

✅ SEO Tip: affordable term life insurance for stay-at-home moms, cheap life insurance for non-working spouses

⚠️ What Happens If You Don’t Have Coverage?

Without life insurance for a stay-at-home spouse, the working partner might have to:

  • Quit their job to care for kids full-time

  • Take on debt to afford childcare

  • Move or downsize

  • Face long-term financial hardship

The emotional impact is already devastating. Don’t let it become a financial crisis too.

❤️ Final Thoughts: Every Parent Deserves Protection

Being a stay-at-home parent is a full-time job—and one of the most important ones. While they may not bring home a salary, their value to the family is immeasurable.

Getting life insurance for a stay-at-home parent isn’t just about money. It’s about protecting your family’s future, preserving their lifestyle, and ensuring your kids are cared for—no matter what.

🎯 Key Takeaways:

  • Stay-at-home parents provide services worth $100,000+/year

  • Life insurance covers the cost to replace those services

  • Term policies are affordable and customizable

  • Every parent—working or not—deserves financial protection

👉 Ready to Take the Next Step?

Don’t wait until it’s too late. Speak with a licensed life insurance agent or use an online tool to get a quote today.

Your family’s future deserves it.

You can experience the benefits of being a part of a full-service independent insurance Agency today! Simply contact Briggs Agency, Inc. if you are interested in an insurance review at 219-769-4840 or visit our website at www.BriggsAgency.com. We look forward to hearing from you!

Blog post written by: Zachary Pelke

Auto Insurance Discounts-Maximizing Your Savings

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Before we begin: Auto insurance is essential—but that doesn’t mean it has to be expensive. Many drivers are surprised to learn just how many auto insurance discounts are available. Whether you’re a seasoned driver or just got your license, knowing which discounts you qualify for—and how to earn more—can make a big difference in your monthly premium.

In this post, we’ll break down common auto insurance discounts and show you how to maximize your savings without sacrificing coverage.

Why Auto Insurance Discounts Matter

Auto insurance premiums are based on a variety of factors: your driving history, age, location, the type of car you drive, and more. But insurers also offer discounts as incentives—for safe driving, responsible behavior, and customer loyalty. Taking advantage of these discounts can help lower your rates by up to 25% or more in some cases.

Common Auto Insurance Discounts (And How to Qualify)

Here’s a breakdown of some of the most popular auto insurance discounts and what it takes to qualify:

1. Safe Driver Discount

Who qualifies? Drivers with a clean record—no accidents or moving violations for 3-5 years.
How much can you save? Up to 20-30% depending on the insurer.
Pro tip: Consider using a telematics program (see #2) to prove your driving habits.

2. Usage-Based / Telematics Programs

Who qualifies? Drivers willing to use a device or app that tracks driving behavior (speed, braking, mileage).
How much can you save? 5-30%, based on how safely you drive.
Pro tip: These programs often include a discount just for signing up, even before you’ve completed the trial period.

3. Good Student Discount

Who qualifies? Full-time students under 25 with a GPA of 3.0 or higher (varies by insurer).
How much can you save? 10-15%.
Pro tip: Provide proof of grades each policy renewal to keep the discount.

4. Multi-Car Discount

Who qualifies? Households insuring more than one vehicle on the same policy.
How much can you save? 10-25%.
Pro tip: Make sure all vehicles are under the same name or household to qualify.

5. Bundling Discount (Multi-Policy)

Who qualifies? Policyholders who combine auto with home, renters, or life insurance.
How much can you save? 10-20% on each policy.
Pro tip: Even if the bundled price seems higher, factor in total savings across all policies.

6. Low Mileage Discount

Who qualifies? Drivers who log fewer miles than average each year (typically under 7,500 to 10,000 miles).
How much can you save? 5-15%.
Pro tip: Retirees, remote workers, and city dwellers often qualify without realizing it.

7. Loyalty / Renewal Discounts

Who qualifies? Long-term customers who stay with the same insurer.
How much can you save? 5-10%, depending on policy length.
Pro tip: Even if you get this discount, still compare rates annually—you might still find better deals elsewhere.

8. Anti-Theft and Safety Feature Discounts

Who qualifies? Owners of vehicles with features like airbags, anti-lock brakes, theft alarms, or tracking systems.
How much can you save? 5-15%, depending on your car and insurer.
Pro tip: Provide proof or documentation when adding your vehicle to your policy.

9. Defensive Driving Course Discount

Who qualifies? Drivers who voluntarily take a certified defensive driving course.
How much can you save? 5-10%.
Pro tip: Some states even require insurers to offer this discount if you take an approved class.

10. Affinity / Employer Discounts

Who qualifies? Employees of certain companies, military members, alumni groups, or professional associations.
How much can you save? Varies widely—anywhere from 5-15%.
Pro tip: Ask your HR department or organization if they have a partnership with an insurer.

How to Maximize Your Auto Insurance Savings

  1. Ask Your Insurer Directly: Discounts are not always automatically applied—you may need to request them.

  2. Shop Around: Compare quotes from multiple insurers annually to ensure you’re not missing out on new discounts.

  3. Keep Your Record Clean: A good driving history opens the door to the biggest discounts.

  4. Review Your Policy Regularly: Life changes (like moving, retiring, or buying a new car) can affect your eligibility for new discounts.

  5. Bundle and Save: Combine policies and coverages whenever possible.

Final Message

Auto insurance discounts can lead to significant long-term savings, especially when you combine multiple eligible offers. From safe driving to bundling policies, understanding what’s available and how to qualify can help you drive down your premium without reducing your protection.

Take the time to review your policy today—or better yet, talk to your agent—and make sure you’re not leaving money on the table.

You can experience the benefits of being a part of a full-service independent Insurance Agency today! Simply contact Briggs Agency, Inc. if you are interested in an insurance review at 219-769-4840 or visit our website at www.BriggsAgency.com. We look forward to hearing from you!

Blog post written by: Zachary Pelke

Briggs Agency, Thank You!

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As my internship draws to a close, I would want to take a moment to sincerely thank Briggs Agency, Inc for an experience that will always be remembered. I’ve developed professionally and personally over the last several months in ways I never would have imagined, and I owe it all to the amazing people and opportunities I’ve encountered here.

I felt like more than just an intern right away. I was trusted with important work, encouraged to be innovative and inquisitive, and brought into genuine conversations. I gained a genuine grasp of how a successful agency functions, not just in terms of strategy and execution but also in terms of culture and teamwork, after being immersed in such a fast-paced and encouraging atmosphere.

The fact that learning became inherent in everything was among the things I appreciated the most. Whether I was listening to insightful criticism, participating in creative meetings, or just watching the team overcome obstacles, I was always learning new things. It meant the world to me to be trusted, and I felt empowered to speak up, ask questions, and grow.

I would especially like to thank Allee, my supervisor. I’ve been impacted by your mentoring for a long time. You constantly went above and beyond to ensure that I felt heard, challenged, and encouraged. Your advice, whether it was guiding me through a project, providing candid yet kind criticism (lol), or motivating me to take charge, which helped me develop my abilities and confidence. You supported an environment where curiosity and personal development were always encouraged, and it was acceptable to not know everything. Observing your knowledgeable and empathetic leadership taught me a lot, and I will apply those skills to whatever comes next. I appreciate you being such a kind and helpful mentor.

I want to express my gratitude to everyone at Briggs (Allee, Andrew, Tim, Wil, Matt, Cassondra, Nancy, and Patti) who made the effort to teach me, include me, and help me feel like a member of the team. I feel blessed to have been a part of your incredible teamwork, creativity, and passion.

Once again, to Briggs Agency, thank you for making this summer so memorable and significant. Along with new knowledge and experiences, I also leave feeling more confident and eager for the future.

 

Sincerely,

Caden Gliva

 

You can experience the benefits of being a part of a full-service Independent Insurance Agency today! Simply contact Briggs Agency, Inc. if you are interested in an insurance review at 219-769-4840 or visit our website at www.BriggsAgency.com. We look forward to hearing from you!

The Impact of Lifestyle Choices on Insurance Premiums

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When most people think about insurance premiums, they assume it’s all about age, coverage, and driving records. But for health and life insurance, your lifestyle plays a huge role in how much you pay. Everything from your smoking status to how often you exercise or visit the doctor can directly impact your premiums.

Whether you’re looking to save money or just curious about how insurers evaluate risk, understanding how your everyday choices affect your rates can help you make smarter decisions and potentially lower your costs.

Smoking and Tobacco Use

Let’s start with one of the biggest red flags for insurers: smoking.

Tobacco use is linked to a wide range of health conditions, including heart disease, cancer, and respiratory illness. As a result, smokers typically pay 2 to 3 times more for life and health insurance than non-smokers.

Even occasional use like vaping, cigars, or nicotine patches can result in higher premiums unless your tobacco-free for 12+ months.

Good news: Many insurers offer non-smoker rates if you quit and remain tobacco-free for a specific period, so quitting doesn’t just improve your health it also saves you money.

Physical Activity and Exercise

An active lifestyle can be a major plus in the eyes of insurance companies. Regular exercise helps reduce the risk of conditions like obesity, high blood pressure, and type 2 diabetes—all of which are factored into underwriting decisions.

Some insurers even reward healthy behavior with discounts, wellness program credits, or wearable device integrations that track your steps, heart rate, and activity levels.

Tip: If your insurer offers a health or fitness incentive program, take advantage of it, as it may lower your premiums over time or qualify you for added benefits.

Diet and Weight Management

Maintaining a healthy weight through diet and lifestyle is another factor that influences your premiums. Underwriters often review your Body Mass Index (BMI) during the application process for life or health insurance.

  • A higher BMI may increase your rates or limit your options

  • Diet-related conditions (like high cholesterol or diabetes) may raise red flags

  • Long-term healthy habits can result in better classification and lower costs

You don’t need to be perfect, but showing your insurer, a pattern of health improvement can help.

Alcohol Consumption and Mental Health

Excessive alcohol use or a history of substance abuse can lead to higher premiums or even coverage denial. Insurers may also review mental health conditions and prescription history to assess long-term risk.

On the other hand, demonstrating stability, wellness checkups, and consistent treatment can work in your favor.

Insurance Programs That Incentivize Healthy Lifestyles

Some life and health insurers now offer “wellness-based policies” that adjust your premiums based on your lifestyle habits. You might receive discounts or rewards for:

  • Getting annual physicals

  • Meeting fitness goals tracked via apps

  • Participating in smoking cessation programs

  • Completing nutrition or stress management courses

These programs are designed to encourage healthy habits and reward you for them.

You can experience the benefits of being a part of a full-service Independent Insurance Agency today! Simply contact Briggs Agency, Inc. if you are interested in an insurance review at 219-769-4840 or visit our website at www.BriggsAgency.com. We look forward to hearing from you!

Blog post written by: Caden Gliva

What to Know About Business Interruption Insurance

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Imagine a fire, flood, or natural disaster shuts down your business overnight. You’re unable to serve customers, pay employees, or bring in revenue, but your bills don’t stop. That’s where Business Interruption Insurance steps in.

This often-overlooked coverage can be a financial lifeline, helping businesses survive temporary closures and bounce back stronger. If you run a business, understanding how business interruption insurance works and why it matters is essential.

Business Interruption Insurance (sometimes called Business Income Insurance) is a type of coverage that replaces lost income when your business is forced to close due to a covered disaster or property damage.

It’s designed to help you maintain financial stability during downtime by covering:

  • Lost net income

  • Fixed operating expenses (like rent, payroll, and taxes)

  • Relocation costs (if you move to a temporary location)

  • Loan payments

  • Training costs for new equipment after rebuilding

This coverage typically only kicks in if the interruption is caused by a covered peril in your property policy (like fire or storm damage)—not for pandemics, cyberattacks, or general economic downturns unless specifically added.

How It Works

Let’s say you’re restaurant experiences a kitchen fire that forces you to close for 3 months during repairs. Business Interruption Insurance would:

  • Replace the income you would have earned during that period

  • Cover fixed costs like employee wages, utility bills, and lease payments

  • Potentially help with costs of operating from a temporary location if needed

The coverage generally starts after a waiting period (often 48–72 hours) and is limited to a restoration period, which is the time it should reasonably take to repair or rebuild.

Why It’s So Important for Business Owners

1. Covers More Than Just Property Damage

While property insurance covers physical damage, it doesn’t protect your income. Business interruption fills that gap—helping you stay afloat while operations are paused.

2. Maintains Payroll and Key Relationships

It allows you to continue paying employees and vendors, so you retain talent and trust, even when business is stalled.

3. Reduces the Risk of Permanent Closure

Businesses without this coverage often struggle to recover from extended closures. Business interruption insurance can mean the difference between temporary downtime and shutting down for good.

Before relying on this coverage, check your policy for:

  • Covered perils (fire, theft, etc.)

  • Exclusions (pandemics, earthquakes, etc.)

  • Waiting period before coverage begins

  • Coverage limit and restoration period length

  • Optional add-ons like contingent business interruption (covers supply chain disruptions)

You can experience the benefits of being a part of a full-service Independent Insurance Agency today! Simply contact Briggs Agency, Inc. if you are interested in an insurance review at 219-769-4840 or visit our website at www.BriggsAgency.com. We look forward to hearing from you!

Blog post written by: Caden Gliva

Tech Innovations in Insurance: How They Benefit You

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Gone are the days of digging through filing cabinets for policy documents or waiting days to hear back about a claim. Today, technology is rapidly reshaping the insurance industry—making it faster, smarter, and more customer-focused than ever. Whether you’re shopping for auto coverage, filing a home claim, or managing your life insurance policy, new innovations are changing how you interact with insurance—and making the experience a whole lot better.

1. Digital Access and Mobile Apps

Insurance is now literally in the palm of your hand. Many providers offer mobile apps and online portals that let you:

  • View and manage policies

  • Pay premiums

  • Access digital ID cards

  • File and track claims in real time

This kind of 24/7 access brings convenience and control to customers who want to manage insurance on their schedule—not someone else’s.

2. Artificial Intelligence (AI) and Chatbots

AI is streamlining how insurance companies handle everything from underwriting to customer service. Smart chatbots can now answer questions, provide quotes, and guide users through filing a claim—instantly.

Behind the scenes, AI also helps assess risk more accurately, meaning more personalized pricing and faster application approvals for customers.

3. Telematics and Usage-Based Insurance

For auto insurance, telematics is a game-changer. With small devices or mobile apps tracking your driving behavior, insurers can offer usage-based insurance (UBI) programs that reward safe drivers with lower premiums.

Benefits include:

  • Real-time feedback on your driving habits

  • Discounts for cautious drivers

  • More accurate and fair pricing

4. Predictive Analytics for Personalized Coverage

Insurance is no longer “one-size-fits-all.” With the help of predictive analytics, insurers can now use data to:

  • Anticipate customer needs

  • Customize policy recommendations

  • Proactively offer coverage updates as your life changes

This helps you get the right coverage at the right time, without overpaying or being underinsured.

5. Faster Claims with Smart Technology

When accidents or disasters happen, speed matters. Modern claims systems now use:

  • Photo and video uploads to assess damage

  • Drone inspections for home and property claims

  • Automated claims processing for quicker payouts

This leads to faster resolutions, less stress, and smoother recovery.

You can experience the benefits of being a part of a full-service Independent Insurance Agency today! Simply contact Briggs Agency, Inc. if you are interested in an insurance review at 219-769-4840 or visit our website at www.BriggsAgency.com. We look forward to hearing from you!

Blog post written by: Caden Gliva