Thoughts During the Quarantine

Well, here we are. Quarantined, working from home, or maybe not working, and dealing with something that only Hollywood could have dreamt up. I think I’ve gotten so many emails with QOVID in the subject line, that I just started deleting them. I’ve taken to Facebook to share some thoughts via social media…if we’re not connected, please follow me on facebook so we can stay in touch in a different way.

Everyone has a thought, slant, or opinion…especially on the Financial Planning part of my world. But this blog is about some insurance thoughts & updates that I hope you find important…

Four topics with some simple logic…


I’m seeing several companies offer some assistance on auto insurance premiums for April & May 2020. To date, the companies that I represent are offering the following.

  • SELECTIVE INSURANCE – 15% credit to monthly premiums for April & May
  • ENCOMPASS INSURANCE – 15% credit to monthly premiums for April & May
  • SAFECO INSURANCE – 15% refund on two months of auto premium, for April & May
  • GRANGE INSURANCE – 25% refund on monthly premiums for April & May

Thought: be patient on these…they will get to you…either in a credit towards future billings, or an actual paper check. This is auto insurance only. The majority of you have your home insurance premiums paid from your mortgage escrow account. Check with your lender to see if there is any relief on mortgage payments and know that the home premium is built into that payment.


For the most part, there is no change that I’m seeing other than a few underwriting restrictions from a select group of companies. If you’re under age 60, in good health, I can take applications via phone call & electronic signature and give Temporary Insurance Agreement to you for up to $1,000,000 face amount. This subject to underwriting, but if this is on your mind at all, call me.


If you’re an Airbnb property owner, like I am, you’re worried. We all are and should be with the guest cancellations we are feeling. If you’re my client, and I hope you are, you’re holding a Foremost Insurance Landlord policy. It has a clause that states:

“The amount of insurance shown on the Declarations Page is REDUCED to 60% of the coverage amount any time your dwelling is vacant for 30 days or more.”

HOWEVER!!!! Vacant means the absence of furniture and other items needed for human occupancy as a dwelling.

If you are using another insurance company for your STR/Airbnb properties, I’d be reviewing my policies & calling my agent to see how this applies to you.


If you work with a financial advisor, or even listen to the financial entertainers on media, they all have been preaching Emergency Funds!!! If you listened, good for you. If not, you’re possibly feeling it right now. Go watch my FB video on HELOCs, or Home Equity Lines of Credit. It’s short, and to the point. If you own a home and have experienced growth in the market value of your home, a HELOC could be a great solution for current cash flow needs.

Summing it all up…

…do not be afraid to ask questions to the people you look to for advice…insurance advisors, financial advisor, banker, mortgage broker, CPA, etc. We all want to hear from you. I hope this blog has been helpful & maybe you made it to this part of the text. If you need me, call me…if I can help others, forward this along. We will get through this…no one knows what that looks like as it’s changing daily. Be safe, be kind, and be smart.

I appreciate your trust, your friendship, and the few minutes you took to read this.

Many thanks,


**Examples are intended for illustrative purposes only and may be not indicative of your situation. Individual results may vary.

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Brian E. Carden, Insurance & Financial Advisor
Phone: 615.506.0300

Securities and Advisory services offered through Madison Avenue Securities, LLC. Member FINRA/SIPC, a registered investment advisor. Past market performance is not indicative of future performance or success. It is not possible to invest directly in an index.