You’ve most likely heard the phrase “Luck of the Irish” but there’s a few misconceptions of the origins of the phrase. With St. Patrick’s Day coming up in March I wanted to do a little research to see if I could learn exactly what it means. Although I still didn’t get clear origins, the most common generalization I found was it simply means “bad luck.”

Life is a journey and at some point, we will all get a dose of bad luck. It can be particularly frustrating, and in some cases even have very severe consequences. For example, getting a flat tire or running out of gas, getting rear-ended by another vehicle, hitting a pole, or unfortunately perhaps something worse – something catches on fire at your home or someone is injured in an accident. What if your business has an interruption either due to weather or other reason and had to shut down operations for a long period of time?

Things can happen and one way to help reduce the negative impacts of the bad luck is to have the proper coverage in place. One person will not have the same insurance needs as another, so it is extremely important to be forthcoming with your insurance agent. If you are reviewing your coverage needs and do not disclose all your assets such as businesses owned, properties, vehicles, all drivers of those vehicles, recreational toys, special property, etc. you may have a very large gap in coverage which could lead to financial devastation.

When reviewing your risk exposure and coverage needs, here are a few additional things to keep in mind:

• Create a home inventory of your belongings – details are key! For larger or more valuable items, additional coverage may need to be added to your policy to be properly covered. Get update appraisals on valuable items.
• Run a valuation on your vehicles to ensure your auto policy coverage limits are adequate to cover the value of the vehicle
• Review the accurate usage of vehicles, occupancy of properties, and business operations with your agent to verify the proper policy type and coverage limits needed
• Include endorsements on your policies to cover the “what if this happens” scenarios

There are endless examples of scenarios that could happen so these tips should not be the only things to consider. As your agent, we will work together to help you build the most comprehensive plan to fit your needs. Also, as life changes, our insurance needs change to so it’s important to review your coverage annually to make sure your policies are keeping up with the changes in your life.

At CLJ Risk Management, we are committed to helping you prevent further frustrations and devastations if you get a dose of the “Luck of the Irish”!