FYI Express - Your Insurance Tips

Grilling Safety Tips

5/25/2022

When the warmer weather hits, there’s nothing better than the smell of food on the grill.
Seven out of every 10 adults in the U.S. have a grill or smoker*, which translates to a lot of tasty meals. But it also means there’s an increased risk of home fires.
In 2013-2017, fire departments went to an annual average of 10,200 home fires involving grills, hibachis or barbecues per year, including 4,500 structure fires and 5,700 outside or unclassified fires. These fires caused an annual average of 10 civilian deaths, 160 civilian injuries and $123 million in direct property damage.
Grilling Safety Tips
https://www.nfpa.org/-/media/Files/Public-Education/Resources/Safety-tip-sheets/Grilling_safety_Tips.pdf

What the Flood! An Online Quiz on Flood Insurance

5/23/2022

The National Association of Insurance Commissioners (NAIC) released an online quiz, “What the Flood!,” as part of its #YourRiskIsReal campaign, an ongoing effort to educate consumers about flood risks and the need to consider purchasing flood insurance.
The short, interactive quiz presents several insurance concepts in easy-to-understand terms. Sample questions include: “Is damage from a busted bathroom pipe and a burst levee covered by the same policy?” and “If a hurricane floods your car, do you file a claim with auto or home?”
Some erroneous beliefs about flood insurance commonly held by consumers include:

Myth: Homeowners insurance covers damage from floods.
Reality: Most homeowners and business insurance policies do not cover damage caused by flooding.
Myth: FEMA assistance is just as good as an insurance policy.
Reality: Not everyone will qualify for FEMA assistance after a disaster, and grants (averaging less than $8,000) are not enough to cover all costs after a flood.
Myth: Flooded homes are fine once they dry out.
Reality: Flooding can damage the foundation of a house, as well as the walls and subfloors, causing mold and other problems. Fixing the damage is expensive.

Take the quiz: https://naic.org/what_the_flood/index.html

Home is Where the Heart is ...

5/16/2022

If you have just married or will soon, you are likely facing some complex insurance decisions. Getting smart about the insurance implications of combining lives and households can help you secure "happily ever after," and perhaps even save money. To get smart about insurance together without tearing each other apart, you need resources.
Home is where the heart is …

New home or fixer-upper: A renovation investment of $5,000 or more can change a home's replacement value and your insurance needs. As you research coverage for your first home together, think about what the structure offers today... and tomorrow.
Where to live: Location, location, location doesn't only affect a home's resale value. Your address also impacts insurance rates, as does your home's construction type and square footage. Do your homework before crossing the threshold.

You have enough details to worry about without adding to the stress by searching for insurance. Let our agency do the searching for you. We represent many fine companies and can find affordable coverage customized for your insurance needs.

Home Insurance: Covered or Not Covered?

5/11/2022

What is Covered
Your coverage will not kick in unless you experience a loss that is caused by a specific peril, or reason for loss, that your policy covers. For most policies, the list of covered perils includes:

Fire, smoke, wind, hail, lightning, explosions.
Theft or vandalism.
Trees and other falling objects.
Weight of ice, snow and sleet.
Damage from an aircraft, car or vehicle.
Water damage caused by a ruptured pipe.

What is Not Covered
Some common perils occur with such frequency and predictability in certain areas that they are subject to exclusion from basic coverage. The most notable excluded perils include:

Floods or sewers that back up into the home.
Land movement, including earthquakes, landslides and mudflows.
Damage from pets, birds, rodents or insects.
Pollution damage.
Deliberate damage to the home.
Normal wear and tear.

Most of these are fairly clear-cut perils, but many people get confused by the types of water damage perils, as defined by insurance companies. They make a clear distinction between sudden water damage caused by a ruptured pipe (covered) and gradual water damage caused by rising floodwaters that seep into a home (not covered).
Pulling It All Together
For far too many homeowners, insurance is just another piece of paper that is signed and filed away, rarely to be thought of again. That is, until the worst happens. People who wait until they experience a loss before analyzing their own policies are not getting the full value – maybe little value – out of their countless premium payments.
Homeowners insurance is a financial covenant, but it should also be treated as a living, breathing entity to be nurtured over time. Only by reading the policy carefully, knowing your coverage limits and updating the property inventory can you ensure that your hard-earned dollars will keep that roof over your head – and another, stronger one after that. Our agency welcomes the opportunity to help you achieve that goal.

Accidents Happen: Take steps to protect yourself, your property and your identity

5/9/2022

In an automobile accident, you are concerned first about your safety and secondly about your vehicle. Likely, the last thing on your mind is protecting your identity. In fact, a recent survey by the National Association of Insurance Commissioners (NAIC) suggests that, after an accident, many Americans do not really know what information they should share with the other driver.
State laws vary, but in most cases you need only provide your name and vehicle insurance information, which should include the name and phone number of your insurance provider. Sharing personal information such as your address and phone number may put your privacy and identity at risk. However, if another driver is unable to provide vehicle ownership and/or insurance information it is appropriate to ask for their phone number, address and driver's license number.
Our office will be glad to give you more tips and a free no-obligation review of all your insurance needs.

Boat Owners Insurance: Just in time for Warmer Weather

5/6/2022

Essentially insurance is offered on a package basis, meaning that there is coverage for physical property as well as protection against the legal and financial consequences of injuring others or damaging property that belongs to others.
Property Coverage - Typically a boatowners policy covers:

Boats - Refers to property designed to travel on water and includes sails, its permanent equipment, spars and fittings.
Boating Equipment - Includes a wide variety of property that is used in conjunction with boats and it includes accessories. Items considered as equipment are property used for communication (radios), navigation, sonar, radar, outboard motors, dinghies, skis and sports equipment (recreational flotation devices) that are towed by boats and similar property. As a rule of thumb, the more related an item is to the ownership and use of a boat, the greater the justification to classify it as boating equipment.
Boat Trailers - Trailers used (and designed) for transporting boats (as defined by the policy).

This property must be owned by the person who is named as the policyholder. There are limited instances when such property that is temporarily in the policyholder’s possession also qualifies for coverage.
Items and situations that aren’t covered include boating property that is used in business activity, losses that involve races or competitions (an exception is made for sailboats) and boats that are used, full-time, as residences.
Liability Coverage - Besides protecting boating property, a boatowners policy also responds to claims or lawsuits caused when another person is injured, and /or when another person’s property is damaged or destroyed. An example would be a collision where the owner of a large speedboat collides with a person on a jet ski, seriously injuring the rider and demolishing the jet ski. The policy would handle both portions of such a loss. The liability portion would also provide a legal defense against lawsuits.
Another important coverage under the liability section is medical payments. This provides reimbursement for, typically, emergency or immediate medical treatment expense. Consider a person who slips on a boat deck and needs transportation to an emergency for treatment of a broken bone or concussion. Such costs would qualify under medical payments.
As is the case with property coverage, there are liability situations that are NOT covered by a boatowners policy, including losses that involve business activity, transmission of communicable disease, unauthorized operation of boating property, intentional acts, and criminal activity.
Boating property is a substantial investment and boatowners coverage is an efficient, affordable way to guard against accidental losses. Our agency looks forward to a review of your boatowner insurance needs.

How to fight Insurance Fraud

5/4/2022

Fighting Auto Insurance Fraud

Persons attempting to commit insurance fraud often do so by deceiving innocent drivers during actual accidents or by involving innocent drivers in "staged" accidents. Do the following to minimize this risk:
Drive defensively, keeping space between you and surrounding cars.
When traffic slows, begin braking before the car in front of you does.
Be careful when turning into a lane that allows two or more autos to turn left at the same time. Victims of insurance fraud are often people who float across the line when turning and then are intentionally sideswiped by a person who is "staging" an accident.
If you are in an accident, write down license numbers of all cars involved in the accident, get the names and contact information of all persons involved and their insurers. Count the number of passengers in the other cars and get their names, addresses and any other pertinent information.
Call the police and get a police report even if the damage is minimal. DO NOT let another driver talk you out of calling the police.
Carry a disposable camera in your glove compartment or make use of a cell phones camera feature and take pictures of the damage to the vehicles and of all drivers and passengers in the cars.

Fighting Homeowners Insurance Fraud

It is far more difficult to involve an innocent party in homeowner fraud. However, a homeowner can help himself and help deter fraudulent claims by properly maintaining their home, and by removing or repairing items that could create tripping hazards to outside parties. Also, if someone is injured in your home, be certain that you get full information and be sure that an injured person gets any needed treatment. Carefully document any incident, including all impressions about likely injury. It may also be prudent to show healthy skepticism over any information on medical bills or claims.
Report suspicious actions such as a friend who asks you to store valuable property and you then find that they reported to his insurer that the property was stolen.
Become an Insurance Fraud Superhero. Think of insurance fraud as money out of your pocket because it is. According to the US Chamber of Commerce, fraud adds 25% to property and casualty insurance rates.
If you are involved in an accident and you are suspicious that fraud may be involved, report it to the authorities and our agency.

Hurricane Season begins June 1st

5/2/2022

The 2022 Hurricane Season begins on June 1st, and our agency wants to remind consumers that now is the time to check and see if your homeowners, renters, or business insurance policy is sufficient enough to cover the potential damage this hurricane season could bring.
Residents who live in coastal counties face the most danger when a hazardous storm or hurricane strikes. However, as we have seen the last two years, people living inland could face heavy rain, very strong winds, and even flooding.
It is recommended you contact our agency to check in on your homeowners, business, or flood insurance policy. Remember, flood insurance policies take 30 days to go into effect.
There are several steps to take if you decide to purchase an insurance policy this hurricane season:

It is important that you make a list of your covered items (furniture, electronics, appliances, valuables, etc.). This list should include pictures of the items as well. A written (with copies of the photos) and electronic version of the list is recommended. It is also advised that you keep the written record somewhere outside of the home or business, such as a safety deposit box. The electronic version should be saved in your email or stored on Dropbox. Having an accurate, up-to-date record of your valuables is essential when filing a claim after a catastrophic storm.
Consider Purchasing Flood Insurance. You can purchase up to $250,000 in federally backed flood insurance from the NFIP (National Flood Insurance Program) for your home and up to $500,000 for your business. Some items that are covered in a policy from the NFIP include but are not limited to: your home and its foundation, electrical and plumbing system, air conditioning unit, furnace, water heater, refrigerator, dishwasher, stove, window blinds, and removal of debris.
If your community participates in the NFIP, a flood insurance policy can be purchased from any state-licensed property and casualty insurance company or agent. Our agency can confirm whether or not flood insurance is available to you and what pricing options you have. Or, consumers can check the NFIP’s Community Status Book to see if they can purchase a policy in their location.
Decide whether or not you would like actual cash value coverage or replacement cost coverage.
Actual cash value coverage will grant you only the current value of an item when you file a claim. To put it simply, you will get only “used” prices for your electronics, furniture, appliances, etc. On the other hand, replacement cost coverage will grant you enough money to purchase new items that were lost or damaged.

Anyone with questions about a policy can contact our agency for a no-obligation review of all your insurance needs.

What Kinds of Insurance do I need for my Motorcycle?

4/19/2022

While motorcycles operators and their driving considerations are quite different than persons operating other, larger, enclosed vehicles; there is one, major similarity…..the need for insurance protection. Most states have financial responsibility laws requiring you to carry proof that you are able to pay for any damage or injury you may cause while driving. Auto insurance is the way that most people comply with these laws. Typically, drivers are required to carry liability insurance at some minimal limit that varies by state. Liability coverages include the following:

Bodily Injury Liability–This covers injury that you may cause to other persons. The key is that it involves you being held financially responsible for injuries to other persons because of your driving, your ownership or other use of your vehicle. This coverage does not apply to any injuries you may suffer.
Property-Damage Liability–This handles damage that you may cause to another person’s property. Again, the coverage only responds when you are financially responsible for such damage and it has to be related to your driving, use or ownership of a vehicle.
Uninsured Motorist Coverage–This coverage typically pays for injury you suffer from an accident caused by an uninsured driver. "Uninsured" usually refers to a person who has no insurance; a person who can't be located ("hit and run drivers"); a person who has insurance but their insurance company is insolvent; and other situations (defined by individual state laws). Important: Payment under this coverage is controlled by the limits mandated by a state's financial responsibility or specific uninsured motorists law that often dictates what limit or limits must be sold. In some states, you may have an option to reject the coverage. Typically, the rejection must be in writing.
Underinsured Motorist Coverage–This coverage typically pays for injury you suffer from an accident caused by an inadequately insured driver. "Underinsured" usually refers to a person who has insurance; but at an amount that is insufficient to cover all costs of the loss that he or she has caused.
Though not, typically, as expensive as cars, motorcycles still are a large investment and should be protected by insurance, particularly when money has been borrowed in order to buy them. Below are typical coverages found in motorcycle insurance policies:
Collision coverage–This covers damage to your own vehicle that happens when your vehicle runs into another object, such as other vehicles, trees, light poles, mountains, etc.
Other Than Collision coverage–This also covers damage to your own vehicle that is due to sources such as fire, theft, hitting an animal, vandalism, earthquake, flood or hail.
Unlike liability coverage, both Collision and Other Than Collision coverages are subject to deductibles, the amount of a claim that the policy owner must pay. Deductibles are meant to eliminate an insurer having to pay for very minor losses.
Special Parts and Accessories–This coverage may be part of a cycle insurer’s basic coverage or, quite often, an optional coverage. Typically it pays for loss involving damage to custom equipment that is added to a cycle rather than what is provided by the cycle manufacturer.
Medical Payments–This coverage typically handles medical expenses for injuries to you while operating your cycle.
Roadside Assistance–This coverage is to help pay for your costs to deal with a disabled cycle, helping to pay for it to be transported to a location for repairs of to assist with the cost for any repair or service that occurs at the location of the cycle's breakdown. However, this coverage is for labor rather than the costs of parts.

Remember that this is merely an introduction to complex policy coverages. Be sure to contact our agency for detailed insurance information and a quote that will fit your budget.

Happy Easter!

4/15/2022

My wishes for you this Easter are peace, love and joy.