This and That About Insurance

Do You Need a Personal Umbrella Policy??

2012-02-14T08:13:00.000-08:00

Why You Need an Umbrella Policy

Unfortunately, bad things happen from time to time. And sometimes really bad things happen — a horrific car crash or a tragic accident.

These types of catastrophic losses could wipe you out financially, if you’re not protected properly.

A personal Umbrella policy provides an extra layer of liability protection.

It’s for times when the liability limits on your auto or home insurance aren’t enough. The policy offers an additional $1 to $5 million in coverage for you and eligible family members if you’re held liable for personal injury or property damage claims. The coverage comes at a very affordable price.

Call your insurance Agent for a quote...the best rates usually are available with the carrier who also insures your auto and home.

Difference Between Health Insurance Deductibles and Co-Pays

2011-12-06T08:36:00.000-08:00

The Difference Between Health Insurance Deductibles and Co-Pays

Health insurance deductibles are not the same thing as co-pays.
If a health insurance policy has a $50 co-pay and a $500 deductible, then the insured is responsible for paying for the first $500 of health care costs under his policy.
After he has met the $500 deductible, then he is responsible for paying a $50 co-pay for each claim filed under his health insurance policy.
The insurance company will pay the remainder of the charges due for each visit as long as the place providing medical care is covered under the health insurance policy.

How Health Insurance Deductibles Are Used

2011-12-06T08:31:00.000-08:00

Health Insurance Deductibles Explained

If a health insurance policy includes deductibles, then the insured must pay a certain amount of money toward his health care before the insurance company has to pay anything under the health insurance policy.
For example, if an insured has a $1,000 deductible toward his hospital/surgical coverage, then he is responsible for paying the hospital for the first $1,000 of health costs incurred.
After he pays the first $1,000, then the insurance company will begin paying toward health care costs after the first $1,000 as paid out under the agreed to terms of the policy.

Helpful Health Insurance Tips - Deductibles

2011-11-29T13:06:00.000-08:00

Purpose of Health Insurance Deductibles

Health insurance deductibles are a way to help offset the cost of health care.
Health Insurance deductibles require the insured (the person who is covered under a health insurance policy) to pay a certain amount toward his own health coverage before the insurance company has to begin paying under the health insurance policy.
The insurance company considers the amount of the health insurance deductible when determining how much the premiums for the health insurance coverage will be.
The higher the deductible is, the lower the premiums are likely to be.
Deductibles -- it's an important feature the consumer has cost control over!

What TO do at the SCENE of an AUTO ACCIDENT

2011-11-09T11:50:00.000-08:00

What TO do at the SCENE of an AUTO ACCIDENT:

STOP immediately, but do not obstruct traffic.
ASSIST injured. Have someone call police. Repeat after 5 minutes.
SECURE names, phone numbers, addresses of other drivers, witnesses, injured persons.
SECURE make, model, license numbers of all cars involved.
MAKE rough drawing of scene, showing position of cars and other details.
TAKE pictures.
DON'T hasitly accept claim settlement at scene of accident.
LET police or insurance adjuster determine fault.
REMAIN calm, courteous and consistent in your version of accident.
NOTIFY your insurance agent as soon as possible.

To be involved in an automobile accident is a very stressful situation; to know what TO DO can help mitigate the trauma and inconvenience associated with it. SAFE TRAVELS!

Insuring your Vehicle - Factors Effecting the Rate

2011-03-31T05:39:00.000-07:00

If you don’t have car insurance, you are exposing yourself to serious financial catastrophe if you get into an accident. Also, if you get pulled over, not having insurance may be an extra point on your record.
Some of the things that affect your insurance rate are:

Your age is important. Older drivers tend to be safer more responsible, while younger drivers tend to have more accidents. This is according to statistics, not anybody’s opinion, so don’t take it personally. Obviously, there’s nothing you can do about your age. Just realize that it’s a factor.
If you live in a crime ridden neighborhood, where cars are getting stolen all the time, you might have to pay higher rates. If you get an alarm, it might be a bit cheaper.
The amount of miles you drive in a month is also a factor. More time out on the road means more chances of getting into an accident. Maybe you could take the bus occasionally or even better yet, ride your bicycle around. You could probably use the exercise.
The value of your car also plays a roll. If you are insuring a Mercedes Benz, you’ll pay a little bit more than if you were insuring a Honda Civic that’s got a few dents in it. Of course, it doesn’t make any sense to switch cars just to get cheap insurance, but realize it’s a factor.
If you are a safe driver, you don’t have any tickets and you haven’t ever crashed your car, then you can expect to pay much less for your insurance. If, on the other hand, you have several tickets and have totaled a few cars, then your insurance is going to be pretty expensive.

These are the things that have an effect on your insurance rates. If you drive safe, and keep an inexpensive car in the garage every night, then you should be OK.

When Filing a CLAIM on Homeowners Insurance RAISES your Rates!

2011-02-18T09:22:00.000-08:00

Even though the purpose of insurance is to pay for CLAIMS there are certain circumstances when filing a claim will raise the rate, some of them are:

· A claim has exceeded a specific threshold amount

· Claims have increased in a particular region

· An individual's claim history

There are some instances where filing a claim will raise the rate an individual pays for their homeowners insurance premium. Normally an insurance company will not raise a person's insurance rate after only one claim has been filed. Usually, a person's insurance rates will rise depending on how many claims have been filed in a specific time period or threshold. When insurers pay out for individual claims they may need to increase rates to make up for the amount they have already paid out. As a result a policyholder may see increased rates at their renewal.
If claims for a particular region have increased as the result of a storm such as a tornado an insurer can take a variety of actions. These actions can come in the form of rate increases. A rate increase not only affects individual's filing a claim but an entire state depending on an insurer's loss history. In order for an insurer to raise the rate on an insurance policy they are required to notify the state in which the rate increase will take effect. They can do this by using a specific provision which is either "file and use" or "use and file". The difference between the two is that under a file and use provision an individual state can deny the rate increase request.
An insurer has a few options available to them as the result of the amount of claims that have been paid out on a specific type of policy. If the amount of claims exceeds their threshold amount they can either non-renew individual policies, charge a higher premium or withdraw from a particular market. When an insurer withdraws from a particular market they stop selling new policies and non-renew existing policies as they expire.

Additional Living Expenses (ALE) - Homeowners

2011-02-17T12:58:00.001-08:00

As Agents who answer homeowners’ insurance questions, we know that one of the most common concerns for our displaced customers is additional living expenses (ALE).

No matter how many questions we answer on the subject, there always seems to be another twist or turn in the issue. What is it that makes the ALE coverage so complicated?

For starters, it seems that the broadness of the coverage itself is a sticking point. The standard homeowner’s policy provides coverage for an increase in living expenses incurred by the insured so they can maintain their normal standard of living. That standard of living is the key; how the insured lived before the loss is what needs to be replicated after the loss. So any animals kept on the property get boarded, and if the insured has a swimming pool or hot tub, alternative living arrangements with similar items are required.

Another common issue is food. Some adjusters have balked at buying beer, wine, snacks, and such on the basis that these are not necessary or healthful foods. No matter, if this is what the insured typically eats, this is what the insured gets. If the insured is a gourmet cook and makes gourmet food every night, then once displaced the insured is entitled to gourmet food, even if it involves expensive, five-star restaurants.

The best way to look at ALE is to look at how the insured lived before the loss, and duplicate it as much as possible after the loss. Indoor pets get to stay indoors, and the insured can live on cake and cognac as long as this is how the insured lived before the loss.

Surplus Lines

2010-12-02T08:17:00.000-08:00

“Surplus lines” is an insurance term that means non-preferred or special when it comes to insuring difficult to place risks. For instance, Safeco, Fireman’s Fund, Liberty, and Travelers are all examples of standard, preferred companies. Surplus lines markets include Lloyd’s of London, Scottsdale, National Fire and Indemnity - to name just a few. Most surplus lines you’ve probably never heard of as they are not household names.
Surplus lines companies are generally very financially sound though and are niche driven. They normally insure or market to businesses that the standard companies won’t touch because of the risk type. They can be more difficult to deal with, though and much more inflexible. If your business must be in a surplus lines company, make sure you talk to your agent about exclusions and limitations to make sure you don’t have unwanted gaps in coverage.

Teenage Drivers

2010-11-22T08:57:00.000-08:00

Your Teen Driver

As a parent, it's up to you to help your teens become safer drivers. Here are some suggestions:

Choosing a vehicle: The Insurance Institute for Highway Safety, which crash-tests dozens of vehicles each year, advises parents to choose a midsize vehicle with lots of safety features such as air bags and antilock brakes. Try to choose the newest model your budget will afford since most of today's cars are better designed for crash protection than vehicles even 6 to 10 years old. Before making that final choice on the vehicle your teenager will drive, check out the consumer information on car safety available from the US Dept of Transportation, the Insurance Information Institute, the Insurance Institute for Highway Safety and, of course, your Insurance agent.

Phase in driving privileges: Graduated licensing programs, now in force in 24 states, phase in privileges such as night-time driving, to allow young drivers to build experience. If you don't live in a graduated licensing state, you can do the job yourself. For example, have your new driver spend at least four months driving with you in the car, then another four months driving alone before you allow him or her to drive friends.

Spell out the rules clearly: Be specific about the time they should be home, when and how many friends they can have in the car, etc. You should always know where your new driver is going.

Spell out the consequences: Your teen needs to understand that if these obligations are not met, there will be consequences, including surrendering the car keys.

Make your driver pay: Another way to encourage mature behavior is to make your child financially responsible for buying and maintaining the vehicle.

Send them to school: It's a good idea to get your teen some supplemental driving instruction, whether it's a one-time safety course or a full-fledged driving school.

*Be sure to speak with your agent ahead of time about adding a teen driver to your Auto policy and review your Auto Insurance coverage annually.

Daycare Facility Illness Guidelines

2010-11-10T06:47:00.000-08:00

Illness Guidelines:
We cannot give your child the attention they need and deserve when they are ill; and it is in everyone’s best interest that a sick child stays home. If your child has any of the symptoms listed below, they will not be permitted to attend daycare until 24 hours after the last incidence of fever, vomiting, severe diarrhea, or until 24 full hours after medical treatment has been prescribed by a physician.

Fever of 100 or more without Tylenol or Motrin
Diarrhea
Vomiting
Pinkeye or eye drainage
Chickenpox
Anything contagious- This policy is to ensure the health and safety of your children and our employees.
If your child becomes ill while in our care, we will notify the parents and if necessary ask that they be picked up within a reasonable amount of time.
We will require a two week notice (payment required even if they do not attend) if your child will be stopping daycare in our facility.

EPLI (Employment Practices Liability Insurance) Info

2010-10-14T07:31:00.000-07:00

EPLI Info for Small Businesses:

· Statistics confirm an employer is more likely to have an employment claim than a property or general liability claim.

· The average amount paid for out-of-court settlement is $40,000.

· Defense of the average EPLI case, through trial, costs over $45,000.

· The median compensatory award in EPLI cases is $218,000.

· 67% of all employment cases that litigate, result in a judgement for the plaintiff.

· 10% of awards in cases involving discrimination and wrongful termination are in excess of $1,000,000.

· Six out of ten employers have faced employee lawsuits within the last five years.

It's said that 41% of all EPLI claims are brought against small employers consisting of 15 to 100 employees.

What do you know about ANSUL Systems?

2010-10-12T11:14:00.000-07:00

In our business we insure a lot of restaurants and one of the basic insuring questions is: "What is your ANSUL protection?"

So "WHAT IS IT"??

By the way! ANSUL comes from ANhydrous SULfur dioside (SO₂).

An ANSUL System is a sophisticated method of extinguishing fires! There are several types of ANSUL systems and products, which are each for use in a specific location or on a specific type of fire. Components may be used individually or can be combined for the utmost in fire safety.

FUNCTION
ANSUL fire extinquishers remove one of the three key elements that a fire needs to burn. These are fuel, oxygen and heat. A fire extinguisher or an ANSUL system applies an agent that either displaces the oxygen in its surrounding or cools the burning fuel to smother fires effectively. Carbon dioxide is commonly used and is a smothering material.

SIGNIFICANCE
The most important function of an ANSUL system is to save lives and property from fire and from fire related deaths such as by asphyxiation, which is obtainable when you install the correct system suited to your needs in the home or workplace.

FEATURES
An ANSUL system in its most complete form includes fire and heat detectors with an alarm system. The purpose is to notify occupants to leave the premises before being injured. IT also includes an automatic release system of the appropriate chemicals to contain and stifle the fire before it causes extensive damage to the property.

TYPES
The simplest type of ANSUL is the portable fire extinguisher, which you manually operate. These are available for HOME use as well as in small businesses that do not have highly combustible materials. Companies with combustibles on the premises can use the large piped system that dispenses up to 3,000 lbs. of dry chemical. This is the recommendation for paint booths, flammable storage areas and tanker decks. The type F class ANSUL systems are for COMMERCIAL KITCHENS; these systems direct the chemicals at the stoves and fry baskets. Offices with enclosed areas use the clean agent type so there are no harsh chemical fumes remaining after the fire is extinguished. On a large scale, ANSUL systems are mounted on firetrucks for firefighters' use in large areas.

CONSIDERATIONS
Be prepared in advance for a fire to take place. The best method of preparation is in planning and prevention both at home and in the workplace. In the home, fires occur most of the time in the kitchen, and a portable fire extinguisher that is appropriate for grease fires should be nearby.

Back to School Safety Tips!

2010-10-07T10:52:00.000-07:00

School’s in Session Again!!

Pedestrian-vehicle injuries are a leading cause of death for children ages 5 to 14. Kids are back from summer camp, school is in session again and school buses are plying the streets. That means drivers need to step-up safety around school zones, crosswalks, bus stops and wherever children may be playing outdoors. Here are some back-to-school safe driving tips: Be familiar with school zones.
Get in the habit of noticing where school zones and crosswalks are on routes you normally take. Accidents, including pedestrian accidents, are far more likely to occur locally on routes with which drivers are more familiar and comfortable. Stop for school bus lights.
Always Obey crossing guards.
School crossing guards are given police training and the same authority as local traffic police in most areas, so disobeying a crossing guard could get you in serious trouble. Plus, driving on major streets where crossing guards and crosswalks are observed is safer than taking "short-cut" side streets where children may be unattended. Anticipate the worst.
The speed and distance away of oncoming cars is more difficult for young children to judge. Always slow down and prepare to brake in anticipation that a small child might run in front of your vehicle. Be careful around parked vehicles.
Be particularly careful in areas with parked vehicles on the side of the road. Children waiting to cross may be especially difficult to see behind parked sport-utility vehicles. Avoid using cell phones when driving.
Cell phones are a known distraction. Never use hand-held cell phones while driving, and never use hands-free cell phones while driving in school zones or areas with children. The same goes for activities that distract the driver, such as changing CDs, looking at notes and reading maps. Avoid reversing.
Try to avoid reversing your vehicle in areas with children. It’s more difficult to see short children and attend to your car’s blind spots while reversing. Don't speed.
Remember that the speed limit in most school zones during school times or when children are present is 25 miles per hour or lower. Driving during bad weather, or in areas with limited visibility, will require an even lower speed. Your visibility to pedestrians, your ability to see them and your stopping distance can all be greatly impaired by weather or road conditions, so follow common sense and slow down. stop for school buses with flashing red lights. It’s the law! Drivers approaching the bus must come to a full stop for the duration that the red lights are on. Some school buses also have flashing yellow lights, meaning drivers may proceed with extreme caution. Bus drivers often engage the flashing yellow lights before the flashing red lights, signaling that they are about to stop.