Holt & Dimondale Insurance

New Year's resolutions that could lower your insurance rates

2012-01-03T13:06:00.001-05:00

Six resolutions that could lower your insurance rates.

1. Lose weight

If you're among the two-thirds of Americans who are overweight or obese, losing weight could qualify you for lower life insurance rates. That's true whether you're applying for a new policy or already have life insurance.

Louis J. Cassara, chairman and CEO of the Financial Resource Network in the Chicago area, says several of his formerly overweight clients who slimmed down through healthy diet and exercise programs were able to get reconsideration of their life insurance rating classes on existing policies. The strategy reduced costs of their permanent life insurance policies, allowing more money to go into cash value, says Cassara, a Chartered Life Underwriter and Chartered Financial Consultant.

"You can save 5 percent to 15 percent on the cost of insurance by being in good shape," he says.

Not all life insurance companies allow existing policyholders to apply for better rating classes. Ask your life insurance agent for details.

2. Quit smoking

"Smoking dramatically increases the cost of insurance, particularly for term life insurance," Cassara says.

Smoking also raises premiums for permanent life insurance, such as whole and universal life, as well as disability and long-term care insurance.

Most life insurance companies require you to be tobacco-free for at least 12 months to qualify as a nonsmoker, but John Hancock offers a "quit smoking incentive" program for its universal life and variable universal life products.

Cassara says the John Hancock program lets smokers who intend to quit smoking qualify for standard nonsmoker rates for three years. They get to keep the nonsmoker rate permanently if during the three years they show evidence they quit smoking for at least 12 months.

3. Make your home safer

Ask your homeowners insurance company or agent about safety and security discounts.

"It could be something as simple as installing deadbolts on doors or putting in better locks on windows, up to installing a security system with remote monitoring," says Tully Lehman, a spokesperson for the Insurance Information Network of California.

Consider upgrades for fire safety, too, such as replacing an old wood shingle roof with a roof made from fire-safe materials.

4. Improve your credit

Insurance companies in some states can use credit information as a factor in setting car and home insurance premiums. People with good credit get lower rates than those with poor credit histories. To improve your credit, request free copies of your credit reports through annualcreditreport.com and follow instructions to correct any factual errors. Then, catch up on late payments to creditors, pay your bills on time and keep credit card balances under 30 percent of credit limits. Not all states, however, use credit history information when setting rates.

5. Drive less, drive gently - if you can

Insurance companies offer pay-as-you-drive programs in a growing number of states. Examples are Progressive's Snapshot and State Farm's In-Drive. By enrolling in these programs, you agree to have your car's mileage and your driving performance tracked through a telematics device installed in your vehicle.

The device monitors how far you drive and when, how fast you accelerate and turn, and how hard you brake. If you qualify by meeting certain criteria -- not driving during peak hours, not driving more than 12,000 miles in a year and not taking turns too fast or braking too hard -- you can receive a reduction in your car insurance rate.

6. Turn off your cell phone while driving

Ditching your phone while driving may not directly lower car insurance rates, but it may help prevent accidents and traffic tickets, which can increase premiums. Recently, the National Transportation Safety Board recommended a nationwide ban on the use of cell phones and text messaging devices while driving. If adopted by all states, it would be illegal to use a phone while driving, even if you used accessories that allowed you talk on the phone without using your hands.

Currently, the use of mobile devices while driving is governed by state laws with varying degrees of scope. Some states ban all use of handheld cell phones while driving, others prohibit just novice drivers from using cell phones behind the wheel. Meanwhile, some states ban only text messaging while driving. Regardless of what the laws are in your state, safety experts say it's best to stay focused on the road rather than talk on the phone and drive.

"No matter how good you think you are at multi-tasking, having a conversation on a mobile phone while driving distracts you from safely controlling your car," says Dave Melton, a driving safety expert with Liberty Mutual Insurance and managing director of global safety. "Talking on a hands-free device makes absolutely no difference. You are distracted when you talk while driving."

Using a cell phone behind the wheel also teaches kids that it's OK to do so, no matter how often you tell them not to text or talk on the phone while driving.

"And the problem gets worse for teens and novice drivers who are [at] greater risk because they lack driving experience and may not recognize their own level of distraction or appreciate risky driving situations," Melton says.

Source: http://www.insurance.com/life-insurance/coverage/resolutions-lower-insurance-rates.html?WT.qs_osrc=fxb-45854010

A No Key New Years Eve!

2011-12-29T12:00:00.001-05:00

This weekend, millions of people will ring in the New Year with friends, family, and loved ones. However, amidst all the festivities, toasts, and celebrating, safety can quickly take a backseat to a good time – especially when alcohol is added to the mix.

Due to an increase in drunk driving, New Years Eve is one of the most dangerous holidays of the year, according to the U.S. Department of Transportation, which reports that 10,839 people were killed in drunk driving crashes in 2009.

Whether you’re planning to stand in Times Square to see the ball drop or you’re celebrating by throwing a party for friends, your insurance agent want to ensure you usher in 2012 safely. Don’t let your New Year’s celebration turn tragic, follow these safety tips to ring in the New Year responsibly.

1. Leave your keys at home. If you’re planning to raise a glass and toast the New Year, do not drink and drive. Choose a designated driver (many states also offer DD services), take public transportation, walk, or call a taxi. Whatever you do, don’t drink and drive. When you get behind the wheel intoxicated, you’re not only endangering yourself and your passengers, you’re putting others on the road in danger.

2. Be a responsible host. If you’re throwing a New Year’s Eve party, select a designated driver and call a local cab company to provide rides for your guests. You should also stop serving alcohol to guests a couple hours before the party ends, so that guest can sober up. If your party includes underage guests, consider using two different types of cups or different colors in order to distinguish alcoholic beverages from non-alcoholic. If someone underage is caught drinking at your party, as the host you are responsible and could face charges. (You can also read more about social host liability here.)

3. Don’t walk alone. If you choose to walk home from a New Year’s celebration, take a friend with you. Walking alone makes you a target for robbers and other attackers. You should also avoid areas that aren’t well lit or places with little or no foot traffic.

4. Be discrete. If you’re not going to be home on New Year’s Eve/New Year’s Day, make sure your home is secure by locking all doors and windows, turning on automatic light timers, and arming your security. You also shouldn’t advertise your absence by posting notifications about your departure on Twitter, Facebook, or other social media sites.

5. Watch your drink. Never leave your glass or cup unattended. Putting down a drink – even for a minute – gives partygoers with ill intentions a chance to slip something in it. If you need to go to the restroom or step outside, hand your drink to a trusted friend.

Source: http://www.trustedchoice.com/Content/Articles/no-keys-new-years-eve.aspx

Party Host Liability Tips

2011-12-22T14:12:00.001-05:00

In the midst of the festive and hectic holiday atmosphere, it is easy to forget the serious responsibility involved with hosting a party at your home or business. In many states, individuals and employers hosting holiday parties can be held liable in cases where a guest or third party is injured in an accident related to alcohol consumption at your event. Hosts have been held responsible for medical bills, vehicle repair costs, lost time from work, and even wrongful death. Agents recommend that those planning to host holiday parties this year review their homeowners, renter’s or comprehensive general liability (CGL) insurance policy and ensure they have adequate liability coverage if sued and found liable for the actions of a guest who drank at their home or business. While all holiday partygoers and hosts alike should be responsible and know their limits, consumers need to acknowledge that most risks cannot be eliminated entirely. But planning ahead and learning about what’s involved in hosting a reception is the best defense.

Liability Coverage Tips:

• If hosting a holiday party, individuals should look to the liability portion of their homeowners or renters insurance policy to provide them protection if they are sued and found liable for an accident involving a guest who drank at their home.

• Employers need to make sure that their comprehensive general liability (CGL) policy provides them coverage for third-party liquor liability policy before hosting that holiday office party.

• Charging employees for alcoholic beverages in the home or office may not always be the best solution for business parties. It is important for businesses to remember that once they charge a fee for alcohol, they have technically entered the alcohol sales business, even if only for one night. That carries with it requirements for a liquor license and an array of special liability protection needs. It by no means lets these employers off the hook.”

• Purchasing a personal “umbrella” liability policy—that can provide $1 million or more in additional coverage over the limit offered by a standard homeowners or renters policy—may be a prudent move for the frequent party host. This type of coverage can cost as little as $125 a year.

Party Host Safety Tips:

• Limit guest list to those you know.

• Provide filling food for guests and alternative non-alcoholic beverages.

• Schedule activities or entertainment not involving alcohol. If the party centers around drinking, it is likely that guests will drink more.

• Arrange transportation or overnight accommodations for those who should not drive home.

• Stop serving alcohol well before the time the party is to end.

• Do not serve guests who are visibly intoxicated.

• Review your insurance policy with your insurance agent before the event to ensure proper liability coverage.

• Stay alert yourself, always remembering your responsibilities as a host.

Winter Pool Maintenance!

2011-12-19T12:43:00.001-05:00

One of our readers (In & Out Plumbing) wanted us to do a blog entry on pool maintenance in the winter. This is what we found:

A swimming pool should not be closed until the outside air maintains a temperature of 65 degrees or less. The colder temperatures will help to prevent any algae growth in your swimming pool water underneath the Winter pool cover. If you live in an area of the country where the outside air temperature does not stay below 65 degrees, or if you do not put a winter pool cover on your swimming pool, you should continue to run your filtration system and sanitize the swimming pool. This will prevent algae growth or other water problems and staining while the pool is not in use.

A swimming pool should be clean and free of debris before the pool closing process is started, and the pool filter should be backwashed or thoroughly cleaned following the pool filter manufacturer ’s instructions.

The pool chemical levels should be balanced using the following guidelines:
- Free Chlorine: 1-3 ppm.
- Combined Chlorine: 0 ppm
- pH: 7.2 - 7.6
- Alkalinity: 80 - 120 ppm
- Calcium Hardness: 200 - 350 ppm

To chemically treat the swimming pool for the winter you should shock the pool water using a chlorine-free pool shock. A non-chlorine pool shock is suggested because this chemical will oxidize all organic contamination in the pool water to prevent algae from growing, without raising the chlorine level. A chlorine based pool shock will drastically raise the chlorine level of the swimming pool, and the resulting gasses which escape from the pool water surface will collect underneath the swimming pool cover. This may damage the underside of the winter pool cover, and damage the vinyl pool liner (if there is a pool liner) exposed above the waterline. The inert ingredients in most chlorine pool shock may also lead to stains or scaling, if added to the swimming pool immediately before the filtration system is shut down and a pool cover is installed. After chlorine-free pool shock has been circulated for 8 hours, a copper-free algaecide or algae prevention chemical should be added to further prevent any algae growth. Click here to shop for quality pool winterizing chemicals at competitive prices.

Disconnect swimming pool equipment if necessary, and drain all water from the equipment following the manufacturer's instructions. If you live in an area with freezing temperatures you should bring as much of the pool filter equipment indoors as possible. If pool equipment will be left outdoors it should be covered to protect it from harsh weather or damage from ice and rodents.

Drain the pool water 6-8 inches below the lowest fitting inside the swimming pool. To prevent ice damage to the pool plumbing, in-ground pool owners in an area with freezing temperatures need to blow all of the water out of the pool plumbing and put a non-toxic pool anti-freeze into the pool plumbing. If you have not ever closed your inground pool yourself, it is strongly suggested that you pay a local professional to close your swimming pool this year. Pay close attention to what he/she does (in particular the process of blowing the water out of the pool plumbing), and ask questions and take notes if necessary.

Use a guard or plug in the skimmer(s) and return line fitting(s) inside the swimming pool to prevent water from entering the plumbing if the water level inside the pool should rise. You can then install your winter pool cover, following the manufacturer's instructions. Unless you own a safety pool cover, your swimming pool cover should not be pulled taught over the surface of the pool water. A safety pool cover (typically found on an inground pool) has straps extending from the edge of the cover all the way around, and these straps attach to anchors sunk into the concrete or decking around the pool. These sturdy anchors allow a pool safety cover to be pulled taught over the surface of the swimming pool, and support the weight of a person should anyone happen to fall onto the cover during the winter.

A standard "tarp like" winter pool cover should be installed so that it lays on the surface of the water inside the pool. A standard winter pool cover should run nearly straight up the walls of the swimming pool to overlap up onto the decking around an inground pool, or overlap over the top rail of an above ground pool to be secured on the outside of the above ground pool. This prevents the winter pool cover from being pulled into the pool by the weight of water, snow and ice that will inevitably collect on top of the pool cover.

Source:http://www.learnaboutpools.com/poolclosing.html

Tips for having a safe live Christmas Tree in your home

2011-12-08T13:57:00.001-05:00

Having a live Christmas tree in your home during the holidays can greatly enhance your holiday atmosphere with the smells of pine and the natural beauty of a freshly cut tree. However, it is important to take steps to ensure that your tree stays fresh and fire safe while it is in your home. A fresh and well maintained Christmas tree will not only look good longer, but it will be less of a fire risk.

According to the National Fire Protection Association*:

Between 2003-2007, U.S. fire departments responded to an average of 250 home fires that started with Christmas trees per year. These fires caused an average of 14 deaths, 26 injuries, and $13.8 million in direct property damage annually.
Christmas tree fires are not common, but when they occur, they are likely to be serious. On average, one of every 18 reported fires that began with a Christmas tree resulted in death.

The following tips are some great ways to keep your tree looking good and your home safe during the holidays.

Plan ahead- Buy your Christmas tree a day or two before you plan on bringing it in your home. Place your Christmas tree outside in a bucket filled with water for 1-2 days. This will allow the tree to naturally open up which ensures that when the tree is put inside; it's branches won't end up opening up coming close to candles, electrical outlets, or fireplaces. Plus allowing the tree time to open up will help the tree look great as it will become fuller and bigger as it opens up. Be sure to cut off all netting and ropes right away when you get home.

Keep hydrated- A healthy Christmas tree is one that is properly hydrated and kept moist throughout the holiday season. You should always make sure that the tree has plenty of water in the base at all times. In addition to keeping water available for the tree to absorb, many people fill spray bottles with water to keep the tree from drying out. You should spray your tree with room temperature water at least once a day but only when the Christmas lights are off and unplugged. Spraying your tree daily will reduce the dryness, prevent excessive amounts of needles from falling off, and make the tree more resistant against fire and flames. Some people, who have humidifiers, keep them on in the room that the tree is in to keep the air from becoming dry around the tree.

Don't overload- Many fires involving Christmas trees involve electrical fires. Always follow the instructions on the lights and never connect more sets then recommended to the tree. Use a power strip if you need to connect multiple sets of lights so you don't connect too many sets to each other. Always unplug the lights completely from the wall socket when you are going out or going to sleep. Don't put your Christmas tree lights on a timer as you may end up not being around at times when it is set to be on.

Keep away from open flames- Never light candles near your Christmas tree and keep your tree away from fireplaces, stoves, and other sources of open flames. As pretty as the old fashioned lit candle holders might look on a Christmas tree; they are extremely dangerous and should not be used on your holiday tree. Instead consider the safe flame candles that only look like the real thing. In addition to avoiding open flames, keep your tree in a cool room that isn't too brightly lit. This will keep moisture on the tree from your water spraying and minimize drying out.

Keep pets and children away- A toppled Christmas tree or chewed electrical wires are major cause of holiday related fires. Keep wires out of reach and be mindful of low hanging wires and ornaments on your tree. Dogs and cats alike may try to play with or chew on wires which could lead to electrical fires and harm to both tree and pet. Children should be told to look but don't touch as Christmas trees are often filled with shiny and colorful lights and decorations; tempting small children to touch and play near the Christmas tree.

A live Christmas tree on Christmas morning with presents all around underneath and sparkling lights is a beautiful thing and a tradition for many families. Follow the above tips to keep your tree fresh, looking good, and of course safe.

*NFPA's "Home Christmas Tree and Holiday Light Fires" by John R. Hall, Jr. and Marty Aherns, October 2009

http://www.homesite.com/insurance-resources/home-insurance-articles/tips-for-keeping-christmas-tree-fire-safe.htm

Christmas Tale for all of my Insurance Friends!

2011-12-01T12:01:00.001-05:00

Twas the night before Christmas (12:01 a.m. 12/25) and all through the house (single family, joisted masonry, e.c.3, terr. 44, pc5), not a creature was stirring, not even a mouse (thorough pride of ownership and excellent maintenance).

The (flame-retardant) stockings were hung by the (contractor-installed) chimney with care, in hopes that St. Nicholas soon would be there (in spite of deadbolt locks and central station alarm system).

The children (ages 4, 8, 14, & 16) were all nestled snug in their beds (check MVR on 16-year-old) while visions of sugar plums danced in their heads (check for drug use).

Ma in her kerchief (scheduled heirloom) and I in my cap (no slave to fashion) had just settled down for a long winter’s nap. (Check employment, is insured sleeping all day?)

When out on the lawn there arose such a clatter (check into condition of premises, housekeeping, etc.), I jumped out of bed to see what was the matter.

Away to the window I flew like a flash, threw back the curtains and tore open the sash (intentional destructive act, no coverage; also, appears insured only wearing a cap in front of uncovered window).

When what to my wondrous eyes should appear, but a miniature sleigh and eight tiny reindeer. (check if sleigh is rated business use and corporate owned.) With a little old driver so lively and quick, I knew in a moment it must be St. Nick. (Notify life underwriting, order medical on 600-year-old driver).

More rapid than eagles (check MVR for speeding violations) his coursers they came and he whistled and shouted and called them by name (possible aggressive driver).

Now Dasher (turbo equipped?), now Dancer (classic?), now Prancer (check occupation), now Vixen (definitely check occupation), on Comet (possible muscle deer), on Cupid (check credit score), on Donner (4×4) and Blitzen (possible drinking problem?).

To the top of the porch, to the top of the wall (check for structural damage; also look into height exposures), now dash away, dash away, dash away all (old man climbing walls either in great shape or overly medicated).

So up to the housetop his coursers they flew, with a sleigh full of toys and Saint Nicholas, too. (Check for possible retail delivery classification of autos). And then, in a twinkling, I heard on the roof, the prancing and pawing of each little hoof. (Check for shingle damage; also classification of operations—roofing is a prohibited class).

As I drew in my head and was turning around, down the chimney he came with a bound.

He was dressed all in fur (scheduled items) from his head to his foot, and his clothes were all tarnished with ashes and soot. (Part-time job as firefighter?)

A bundle of toys he had flung on his back. (Check to see if insured has safety committee; check lifting training). His eyes how they twinkled, his dimples how merry, his cheeks were like roses, his nose like a cherry (order updated medical report, possible drinking and/or drug abuse).

The stump of a pipe he held tight in his teeth (ineligible for nonsmoker discount) and the smoke encircled his head like a wreath (check batteries in smoke detectors to make sure operational).

He was chubby and plump a right jolly elf (overweight for height) and I laughed when I saw him in spite of myself. A wink of his eye and a nod of his head soon gave me reason I had nothing to dread (Stranger enters past alarm and insured not worried? Sounds suspicious.)

He spoke not a word, but went straight to his work, and filled all the stocking, then turned with a jerk (review workplace for ergonomic compliance).

And laying his finger aside of his nose (obscene gesture?), and giving a nod, up the chimney he rose. (Check operations, chimney sweeps are prohibited classification, look into GL PD deductible.)

He sprang to his sleigh, to his team gave a whistle, and away they all flew like the down of a thistle (not likely with fat man and sleigh full of toys. Check GVW for proper classification, light/service/local seems unlikely).

And I heard him exclaim as he drove out of sight, “Merry Christmas to all, and to all a good night!” (Check hours of operation; 24-hour service operations prohibited. Also check into seasonal nature of business.)

NOTE: ORDER NEW LOSS CONTROL REPORT. DIARY FOR 07/01/06 TO DISCUSS WITH AGENT.

(And you don't think we have our own lingo?) HAHA

Source: http://www.insurancejournal.com/news/national/2005/12/23/63402.htm

Not Owned, Not Covered, Not Good!

2011-11-25T12:00:00.001-05:00

As the fall approaches across the United States, millions of young people will embark on that great journey we call life on a college campus. Others entering their golden years and their families will consider the benefit of moving into an assisted living facility. Still others, uninterested in or unable to secure a home loan, will choose to move into an apartment or rental home.

What does each of the above circumstances have in common?

None of them own the home in which they are living—thus preventing them from purchasing a standard home insurance policy.

Yes, those individuals described above could find coverage for personal property or personal liability claims under the home insurance policy of someone else. For example, some policies will extend coverage to a student while living away attending school. However, reliance on someone else’s insurance is risky—coverage may be inadequate or nonexistent, depending on the terms of that policy.

If you’re one of the individuals described above—or feel responsible for someone that fits the description—wouldn’t you feel better knowing insurance coverage is in force?

Renters Insurance
Renters insurance is a generally used term to describe a policy designed for someone that does not own a home. Insurance carriers that sell renters insurance typically have their own rules to determine who is eligible. Many policies will offer both personal property (often called “contents”) and personal liability insurance.

Personal Property
Renters insurance is often marketed and sold for its ability to cover personal property. Many carriers focus on this function of the policy for psychological reasons. Why? It’s much easier for buyers to visualize the theft of or damage to personal property than it is to visualize a personal liability claim.

You can buy renters insurance at a limit sufficient to pay the cost to repair or replace damaged or stolen property. Some insurers allow buyers to choose to purchase coverage that will reimburse the cost to replace damaged property with a newer model—without deducting for depreciation. Others only allow buyers to buy insurance that will pay the actual cash value of the property, allowing the claims adjuster to deduct for depreciation. If available, the former option is preferable—many types of personal property, such as electronics and furniture, depreciate significantly.

Renters insurance may be sold on a “named” or “open” perils basis:
• If the former option applies, coverage is limited to causes of loss or so-called “perils” specifically named in the policy. Let’s say your TV burns in a fire. It likely will be covered because fire is a named peril. If the event causing damage to the property is not a named peril, than no coverage will apply. For example, if your furniture is damaged in a flood it probably won’t be covered because flood is not a named peril.
• If the open perils option applies, coverage is extended to any cause of loss or “peril” unless the event causing damage is specifically excluded. If available, this option is preferable, as you can never predict the event that will cause damage to your property.

Personal Liability
Many renters insurance policies also cover an insured’s personal liability. Let’s say you’re entertaining guests at a gathering at your apartment. A drink is spilled on the tile floor and someone slips and falls, causing serious bodily injury. As host, you could be found negligent for that person’s injury and made responsible for his or her medical bills. Without personal liability insurance, you would have to pay those potentially devastating costs out of your own pocket. Even worse, if a lawsuit were to arise, your personal assets also may be tapped to compensate that person for his or her injury. The types of bodily injury claims covered by your policy vary and should be reviewed carefully.

You also may be found personally liable for property damage caused to the space you are renting or to someone else’s property, such as a neighbor’s building. As with bodily injury, the types of property damage claims covered by your policy vary; again, review the coverage carefully.

Conclusion
Regardless of your living arrangement, choosing to live uninsured could prove financially devastating if your personal property is stolen or damaged. The same is true if you are responsible for someone’s injury or damage to his or her property. Call today and talk with a Trusted Choice® independent insurance agent for help in securing renters insurance for you or a loved one.

From the Trusted Choice Website:

www.TrustedChoice.com

Fight the Flames: Seven Tips for Protecting Your Home from Fire

2011-11-17T13:28:00.001-05:00

Home fires caused 2,565 deaths (not including firefighters) and almost $7.8 billion in damage in 2009, according to the National Fire Protection Association (NFPA). While it’s impossible to completely prevent fires, there are several measures you can take to protect your family, home and valuables from the flames.

Check smoke and carbon monoxide detectors. Test these devices monthly to make sure they are working properly and replace the batteries annually. The U.S. Consumer Product Safety Commission recommends putting at least one smoke detector on each level of your home. Never disable these detectors even if they go off while cooking or showering.

Install fire extinguishers. The NFAP recommends keeping extinguishers near exits of your home and in the kitchen where most house fires start. A multi-purpose extinguisher that is large enough to put out a small fire but isn’t too heavy to handle is ideal. Be sure to read all the manufacturer’s instructions on how to properly operate the device.

Create a home escape plan. Draw a map of your house that includes all the doors and windows and discuss a fire escape plan with all family members. Practice the escape route at least once a year.

Keep it clean. Remove leaves and debris from around the property and clean out the gutters. It’s also important to trim back any shrubs or tree limbs that are close to your home. All of these things can be potential fire hazards.

Make sure your home is fully insured. Talk to your Trusted Choice® independent insurance agent to ensure your home is fully covered for fire loss and that you have loss-of-use coverage in the event your home becomes uninhabitable.

Take a home inventory. Make a list of everything valuable in your home and document it with photos and video. Keeping a record of all your belongings will help you file a claim if you experience a fire or other loss.

Protect important documents. Keep a copy of your homeowner’s policy, home inventory, and other important documents, such as passports, legal documents and birth and marriage certificates in a fireproof lockbox or at an off-site location.

From the Trusted Choice Website

www.TrustedChoice.com

Is Your Home Ready for Winter?

2011-11-10T11:00:00.001-05:00

Is your home ready for winter weather? Many consumers don’t realize that lack of preparation could mean unwelcome home damage and unexpected repair expenses. To help families and businesses protect themselves against winter risks and enjoy the season, Trusted Choice^® offers tips that can help families prepare for risks and hazards that may come during the winter months.

Snow or ice is the fifth leading cause of homeowners’ insurance claims. Also, according to the Insurance Information Institute (I.I.I.), the average homeowners’ claim for water damage and freezing is a whopping $5,531. Follow these tips to protect you and your home from serious financial liability:

Prevent Ice Dams—An ice dam is a build-up of ice that blocks water drainage from the roof and the gutters. Ice dams can cause leaks from ceilings and walls that can ultimately lead to mold and other problems. To prevent ice dams, remove leaves, sticks and other debris from gutters or install gutter guards (available in most hardware home stores) that will prevent debris from getting in the gutter and interfering with drainage.

“Watch Out for That Tree!”—Trees and branches weakened by snow, ice and wind can snap and seriously hurt a person on your property as well as cause serious damage to your home or car. Trimming trees and removing dead branches can help prevent serious damage and injuries.

Roof Care and Repair—High winds, snow and ice can damage a roof. Check the structural ability of the roof to sustain unusually heavy weight from the accumulation of snow and ice. After a heavy storm, check for water stains in the attic and on any overhangs. Lastly, repair or replace split or loose shingles and fix any leaks.

Pipe Dreams…and Nightmares—First, the bad news: Frozen or broken water pipes disrupt hundreds of thousands of American lives every winter. You can prevent frozen pipes by following these tips:

• Keep the inside temperature of your home at 65 degrees or warmer.

• Wrap heating tape and/or standard insulation around pipes wherever possible.

• Look for pipes with cracks or leaks —they freeze first.

• Keep cabinet doors open during cold spells to allow warm air to circulate around pipes (particularly in the kitchen and bathroom).

• If you’re leaving your home for several days, turn off the water completely and drain the pipes, or keep water dripping through one or two faucets, as moving water prevents freezing. However, if you are leaving your home for an extended period of time, plan to turn the water off. It also helps to have someone check your home every day while you are gone.

• If your pipes do freeze, quickly shut off the water and immediately call a plumber.

Prevent Personal Injuries—Homeowners are liable for any injuries that occur on their property. Keep kitty litter, sand or rock salt on hand to sprinkle over frozen driveways, walkways or sidewalks. Additionally, ensure that your outdoor steps and guardrails are in good repair to prevent injuries from falls on ice.

From the Trusted Choice Website:

www.TrustedChoice.com

Times Have Changed!

2011-10-12T14:42:00.001-04:00

Mobile Devices: Does Insurance Tag Along?

2011-10-10T09:00:00.001-04:00

Mobile information devices like PDAs and MP3 players occupy the bags and pockets of tens of millions of Americans. These devices can be pricey, often costing hundreds of dollars. The cost to obtain the information programmed on these gizmos can be exponentially more. If your portable device is damaged or stolen, will these costs be covered by your insurance?

Personal Insurance
Consider the iPod. Their owners span every demographic. For some, the iPod is as important to getting through the day as morning coffee or sunshine.

This pervasive product ranges in cost—usually a few hundred bucks or less depending on bells and whistles—and that’s just for the hardware. Downloading music can cost a dollar a song, videos and “podcasts” even more. Add in time spent collecting this information and you’ve got thousands of dollars invested in this thing. The same is true for other portable devices.

The good news is that most homeowners policies cover personal property while it is anywhere in the world—a positive considering the nature of these devices. The bad news is that coverage is limited—meaning the check you receive after the loss may not be what you expect.

While many believe their iPod is “worth” thousands of dollars, a homeowners insurance policy is designed to cover “direct physical loss” to property. Therefore, a typical policy will cover the cost of the device itself but not the cost of the information stored on the device. Some homeowner policies include coverage for loss to “personal records,” which may include information stored on a portable device. However, not all will do so and those that do likely limit coverage to a relatively small amount.

Business Insurance
More and more people are using PDAs, such as BlackBerrys and iPhones, to conduct business on the fly. These devices keep them wirelessly connected to their work through email, Internet and phone.

If you own the device personally and use it for business, coverage under your homeowners insurance policy is less generous. Personal property used for business may not be covered worldwide and is subject to an amount of insurance that is lower than other personal property. A further restriction is that any limited coverage available for “personal records” does not apply to business records.

If the device is owned by your employer, it’s likely covered under a business insurance policy. Such policies contain similar limitations for loss of information.

Back it Up
Whether used for business, personal, or both, cost to replace the device itself is likely the extent your insurance will pay if it is damaged or stolen. The best way to protect the information contained in the device is to back-up data periodically. Then, even if you have to replace the device, you won’t have to start from scratch.

One Roof

2011-10-03T09:00:00.001-04:00

Following is just a sample of the types of insurance policies needed by owners of virtually every kind of business:

-Workers Compensation
-Commercial General Liability
-Commercial Property
-Professional Liability
-Commercial Auto
-Business Interruption.

This list is by no means complete. In fact, most researchers conclude that business owners typically need a minimum of nine insurance policies to properly insure their operations. While it may be possible to bundle or package some of these types of insurance together, this is not always an option. In many cases, owners must purchase these important policies individually. Keeping up with this many policies is not something most business owners prefer to spend time on.

Understanding Your Operation
Properly insuring your business requires an almost intimate knowledge of your operations. Spreading your policies across multiple agents means spending more time educating more people about what you do and the exposures that come along with it. A single agent that truly understands the many aspects of your operations is in a better position to help identify exposures for you.

Policies That Work Together
Here’s an example: You expect that your commercial umbrella policy will provide additional coverage over that included in your commercial auto policy. However, many umbrella policies will only extend above an auto policy provided by an insurance company with a specified financial strength rating. If the rating falls below a certain grade, this may drastically affect your umbrella in that it will no longer apply to an auto loss.

It is not unlikely that two of your business insurance policies may have to work together. Thus, keeping them under separate roofs could create problems.

Personal Info
Preparing business insurance will require owners to furnish highly sensitive financial information about the business as well as personal information about personnel. Spreading insurance across multiple agents will require you to divulge this personal information to multiple parties.

Consolidating Policy Periods
Most business insurance policies are annual policies, renewing each year. As owner, you may want your insurance policies to renew at specific periods of time when it is most convenient for you. For example, you may want your property insurance to renew just before your busiest time of year when inventory levels are at their highest; alternatively, you may wish to keep the books simpler by having all of your insurance renew on a specific date. It should be your choice.

One Call
Perhaps the most convenient advantage to having a single agent managing your business insurance is having all your needs handled in one place. If you need a certificate of insurance, are hiring a new employee, adding a location, forming a new business or any other change, there’s one number to call.

Price and Availability
By keeping multiple policies under one roof, you might have access to multi-policy discounts that can save your business hundreds or thousands annually. Further, keeping your policies under one roof may give your agent more opportunities to obtain better pricing and coverage options for your business.

Packaging
While it may not be an option for every business, some businesses may be able to bundle or package two or more policies together. This often translates into better coverage and pricing as well a simplified handling. For example, some businesses may be eligible for a business owners policy, which combines property, liability and business interruption insurance. Other businesses may be eligible for a management liability policy, which combines a variety of professional liability insurance, such as errors and omissions and employment practices liability.

From Trusted Choice http://www.trustedchoice.com/

Single Mothers and Life Insurance

2011-09-26T09:00:00.003-04:00

Single Mothers and Their Families At Risk
Facts from LIMRA
Life Insurance Awareness Month, September 2011

Single Mother Households Are An Important Demographic:

-According to the U.S. Census Bureau, there are about 10 million single mothers with children under the age of 18 living in the U.S. .

-Most single mothers are not teenagers. In fact,U.S. Census Bureau data indicate that8 in 10 single mothers are at least 25 years old. Further, more than half of all single mothers have been previously married, with nearly all of these marriages ending in divorce. And, while many do earn low incomes, a fourth earn incomes of at least $50,000 annually placing them solidly in the middle class.

Single Mothers Own Life Insurance But Not Enough:

-Two-thirds of working single mothers own life insurance –37 percent own individual life insurance, and 46 percent are covered by group life insurance. This is higher than the ownership level for all women (57 percent) in the total population.

-However, of those who are insured, only a third of single mothers felt that their families would be able to cover expenses for a significant length of time should they die.

-Among those single mothers who earned incomes of $50,000 or more, close to 9 in 10 own type of life insurance, with almost half owning individual life insurance.

-The reasons single mothers give for not owning life insurance clearly indicate the budget constraints that two-thirds of uninsured single mothers face.

How Advisors Can Better Engage Single Mothers:

-Convey the costs of life insurance to all. Many single mothers believe that the costs are too high for them to afford. In reality this may not be the case -often people overestimate these costs.

-Offer to review the policy coverages of their clients and prospects. These policy reviews may result in single mothers buying additional coverage, or purchasing new policies with affordable premiums.

-Proactively offer financial planning to their clients. This can help customers prioritize their financial goals and manage their income (and debt) to achieve their most important goals. Single mothers may particularly appreciate this since even simple plans can bring some peace of mind.

-Be sensitive to the fact that single mothers are incredibly busy, and may not always be able to find someone to take care of their children.

http://www.limra.com/newscenter/pressmaterials/11SingleMothers.pdf
All facts are from LIMRA’s report: Flying Solo Single Mothers Protecting Their Families (2011).
Fact sheet may be reproduced in whole or in part if attributed to LIMRA.

Notable Omissions/Limitations in Your Home Insurance Policy

2011-09-26T09:00:00.001-04:00

Do you know what types of losses your home insurance policy will cover? Perhaps more important, do you know what types of commonly occurring losses it will not cover?

Knowing the limitations in your policy is the first step to finding the fix. Following is a list of commonly occurring events or exposures that can cause significant financial damage to you and your family. What do they all have in common? Coverage for them is either limited or excluded under a typical home insurance policy.

Flood
According to the Federal Emergency Management Agency, floods are the most pervasive and damaging cause of loss in the U.S. annually. Floods are also responsible for more deaths than any other naturally occurring event in the U.S., and they happen in all 50 states.

FEMA designates areas as special flood hazards areas or “flood zones” on rate maps that are revised on an occasional basis. FEMA is quick to note that just over 30% of properties that sustain flood damage in the U.S. are not located in one of these zones.

You do not have to live in a flood zone to purchase flood insurance.

Earthquake
Myth—The western U.S. is the only region of the country that needs to worry about earthquake damage.

Fact—According to the Insurance Information Institute (I.I.I.), earthquakes have occurred in 39 states, and damage resulting from them has occurred in all 50 states since 1900. The I.I.I. explains that some specific types of damage that may result from earth movement are covered by a typical homeowners insurance policy. Examples include fire, explosion and water damage. This is important because it’s common for the earth movement to rupture gas and water lines. However, it’s noteworthy that structural damage caused by the shaking of the ground is not covered by a home insurance policy.

Only an earthquake insurance policy will cover earthquake damage.

Ordinance and Law
Would the repair of your home be susceptible to increased costs resulting from having to comply with a building ordinance? As communities become more aware of potential property damage, stringent building codes are approved that must be adhered to for homes that are built new or rebuilt after damage. Compliance with such codes may significantly increase the cost to rebuild your home. For example, many regions of the country are adopting new codes to ensure homes built there use less water and are more energy-efficient. Installing the necessary materials and appliances could translate into more dollars for the repair.

The good news is that most home insurance companies will cover these increased costs due to ordinance or law. However, many such policies limit the available dollars to no more than 10% of the value of the dwelling. More coverage is typically available and should be considered if your community has adopted more stringent codes since your home was originally built.

Business from Home
As harsh economic conditions continue to hinder employers across the U.S., many former employees have decided to go into business on their own. Others may be employed with a firm but choose to work from home. Regardless, operating a business activity from home can create coverage problems under a typical home insurance policy.

First, a home insurance policy contains limited coverage for property used in the business. Many policies limit damage to such property, which may include items like equipment, inventory and computers, to a specific dollar amount, such as $2,500. The amount typically decreases when the business property is damaged while away from the residence.

The second major issue with a home-based business is liability coverage. With few exceptions, liability coverage for the business is not covered. Excluded injuries may include those to a customer or salesperson that occur in the residence or bodily injury suffered by someone using your home-based business’s product. Property damage caused by your home-based business’s operations, such as a side-job that causes structural damage to a customer’s home, are not covered by home insurance. Further, the home insurance policy does not cover professional liability claims. Such claims may include errors or omissions made by you in your performance as a professional.

Insurance for the home-based business may be available as an endorsement to the existing home insurance policy. For some home-based businesses, separate commercial insurance may be a better choice.

These and other potentially damaging issues must be brought into the forefront of the conversation with your insurance agent. Unfortunately, many agents and insurance buyers skimp on the details, looking to secure insurance using the path of least resistance. When this happens, exposures like these go unnoticed and often result in large out-of-pocket expenses to you.

From Trusted Choice http://www.trustedchoice.com/

September - Life Insurance Awareness Month

2011-09-22T09:00:00.001-04:00

Facts About Life 2011
Facts from LIMRA
Life Insurance Awareness Month, September 2011

-The proportion of U.S. adults with life insurance protection has declined to an all-time low as 41 percent (95 million) of U.S. adults have no life insurance at all.

-Both men and women are less likely to own life insurance today than they were in 2004—only 61 percent of men and 57 percent of women have some sort of life insurance coverage.

-Only 1 in 10 insured adults own both permanent and term life insurance —half as many in 2004.

-The likelihood of being without life insurance has dramatically increased for every age group since 2004.

Troubling Declines for Men:

-Men ages 35 to 54 have seen large declines in individual life ownership in the past 12 years. This is troubling, since middle-aged men typically have families and are usually in their highest income earning years.

-Young males, ages 18 to 24, are less likely than in past decades to be starting their adult years with any individual life insurance. Only 13 percent had individual life policies in 2010, compared with 30 percent in 1998.

-Husbands ages 35 to 54 and 65 or older had double-digit declines in the proportion owning individual life insurance in the past six years.

-Since 2004 the likelihood of husbands having any life insurance has declined across every income level —low, middle and affluent.

Women Lag Behind in Life Insurance Coverage:

-While younger women are now as likely as their male counterparts to have coverage, women ages 55 and older are still considerably less likely than men the same age to own life insurance.

-Women of all ages average smaller amounts of individual life coverage than men of similar ages. On average, women have $129,800 of individual life insurance, while men have $187,100 of individual life insurance coverage.

-The gap in average life insurance coverage between husbands and wives with similar personal incomes has narrowed over the past six years —primarily because insured wives have experienced smaller declines in amounts of individual life and group life coverage than have husbands with similar personal incomes.

-Women with high personal incomes ($100,000+) are less likely to have individual life insurance or group life insurance than men with similar personal incomes.

More U.S. Adults Are Relying on Employer-Sponsored Life Insurance:

-Today, more insured adults depend solely on group life insurance for their only life insurance coverage than in the past.

-For the first time, the percentage of adults having group life insurance has surpassed adults owning individual life insurance (36% to 35%)

-However, the percentage of adults having group life insurance has dropped (down four percentage points since 2004), which is the first decline since group insurance was introduced.

-About 4 in 10 insured husbands and insured wives have only group life insurance coverage.

-People insured only through group life insurance have the lowest average amount of coverage

http://www.limra.com/newscenter/pressmaterials/11FOL.pdf

All information from this blog is at this link above.

Times Have Changed!

2011-09-21T14:39:00.001-04:00

64 Pontiac Bonneville

2011-09-19T15:08:00.000-04:00

Check out this beauty!

Loss Assessments: Home or Condo

2011-09-19T09:00:00.001-04:00

If you live in a home in a developed area or subdivision, there’s a reasonable chance that you are a member of a homeowner’s association. The same is true if your pad is a condominium.

Association membership has its benefits. In return, members of the association are sometimes asked to contribute funds to help maintain the integrity/value of the common elements. Those common elements—a garage or clubhouse, for example—are those items of property commonly owned by all members. “Asked” may be too soft a word—such contributions usually are collected through mandatory assessments.

What are some things for which you as an association member can receive an assessment? Good question. The answer is typically found in association bylaws. In some states, laws will have something to say about the extent an assessment can be charged and for what it can be charged. However, such statutes do not exist everywhere.

Here’s another question: If you receive an assessment from your home or condo association, will your home or condo insurance policy help you pay for it?

The answer, well, depends.

Most home and condo insurance policies have very similar language in how they address coverage for loss assessment. There are a few things you will need to know before coverage can be determined.

What Caused the Assessment?
The home or condo policy only will kick in to pay an assessment that is charged to you for a reason that would be covered by your insurance. For example, if the assessment were charged to help cover the cost of damage to the clubhouse caused by a fire, your policy would pay due to the fact that fire is a covered loss under your policy. However, if earth movement damaged the same building, your policy would not pay if earth movement is not a covered loss under your policy.

If an assessment is charged to cover the cost of painting the exterior of the clubhouse simply because the association decided it was time to paint, your coverage would not kick in due to the fact that there has been no covered loss.

Assessments are not only charged to cover claims of damage to common elements. Members also may be assessed for claims of bodily injury or property damage against the association’s master policy. For example:

A guest suffers a permanent head injury after slipping on a damaged walkway. The bodily injury claim against the association is $1.5 million. The association’s policy will cover the injury up to its policy limit of $1 million. The association assesses its members to cover the remaining $500,000.

In this example, your insurance policy would kick in to help pay the assessment. Why? Bodily injury is covered by your policy.

Which Policy Covers the Assessment?
Your home/condo policy says that it will only pay the cost of assessments that are charged during the policy period. This is important to note because it’s possible that the actual assessment may not be charged until months after the loss causing the damage occurred. For example, say the hurricane happens in August, when Company X insures you. In September, you switch your coverage to Company Y. The assessment for the portion of the hurricane damage that isn’t covered by the association’s master policy arrives in October. Company Y’s policy would kick in as it was in effect when the assessment was charged.

How Much Will My Home or Condo Policy Pay?
Most policies are issued with a limit of $1,000 to cover loss assessments. This limit is the most your policy will pay for a single loss, regardless of how many assessments are charged for it. For example, if the clubhouse is damaged by a hurricane, it’s possible that members may be assessed first to cover the cost of the association master policy’s deductible—and again to cover the cost of the repair that exceeds that policy’s limit of insurance. Since both assessments are charged due to the same hurricane, the total paid by your insurance would not exceed $1,000.

That $1,000 Seems Too Low. Can I Increase My Assessment Coverage?
Yes. Most home and condo insurance companies offer you the opportunity to add more coverage for loss assessments. It’s important to know that while the dollar amount may be increased, the terms of the policy still apply (i.e. you will still need the assessment to be charged due to a covered loss).

If you choose to purchase additional assessment coverage, proceed with caution. Most loss assessment endorsements will still only allow you a maximum limit of $1,000 if the purpose of the assessment is to cover the master policy’s deductible.

Final Note
Loss assessments can be expensive. Having the right home or condo insurance policy to help cover some of the cost could save you big bucks.

From Trusted Choice http://www.trustedchoice.com/

Cleaning up the Mess

2011-09-12T09:00:00.001-04:00

It’s after the wind blows or the fire burns. The insured is sifting through the rubble of what used to be his commercial building, looking for any savable scraps of what used to be.

The good news is that the loss is covered and the insured will be getting a check for the cost to replace the building. The better news is that the policy limit was adequate and the insured will not suffer the consequence of coinsurance. But it’s not over.

The insured discovers that, due to increased demand resulting from widespread damage, hiring a contractor to remove the debris will be more expensive than anticipated. But that shouldn’t be a problem because the policy limit is adequate…right?

Most commercial property policies will cover the cost to remove debris resulting from a covered cause of loss. However, coverage may be limited or excluded depending on a few important factors addressed in the policy.

Factor #1 – How much is enough?

First, consider that it is not cheap to remove certain types of debris. For example, removing debris of an old frame building may be less labor-intensive than debris of a building with substantial masonry or steel. Removing such items will likely require the use of a contractor and heavy equipment. Also consider that high demand brought on by widespread damage will likely increase the contractor’s fee for service.

Second, consider how the policy calculates coverage to remove debris. Most policies say that the insured will have access to a stated amount—typically $10,000—plus the lesser of:

• 25% of the paid loss plus the deductible, or
• The remainder of the policy limit minus the paid loss.

For example, consider a loss to a building valued at $1 million. If the loss amount is $100,000 and the deductible is $5,000, coverage would be determined as follows:

• 25% times the paid loss ($95,000) plus the deductible ($5,000) = $25,000, or
• The remainder of the policy limit ($1 million minus $95,000) = $905,000.

In this claim, the insured has access to $25,000 plus the stated amount of $10,000 to clean up the mess.

Now consider the same building, only this time it is a much greater loss of $900,000. Coverage would be determined as follows:

• 25% times the paid loss ($895,000) plus the deductible ($5,000) = $225,000, or
• The remainder of the policy limit ($1 million minus $895,000) = $105,000.

In this claim, the insured has access to $105,000 plus the stated amount of $10,000 to clean up the mess. In the event of a total loss, it’s likely the policy won’t pay more than the stated amount of $10,000. The purpose of these examples is to show that the more severe the loss, the less money the policy includes for cleanup.

Factor #2 – What is ‘covered property’?

Most commercial property policies will pay only the cost to remove debris of “covered property.” This definition includes items specifically listed as such in the policy. The policy also lists items that are defined as “property not covered.” Items meeting this definition may also require cleanup, and the cost associated will not be paid by the insurance company. Examples of these items include pieces of the parking lot, building foundation, landscaping, and items that end up on your property from somewhere else.

Factor #3 – Pollutants

If a building is damaged and the site must be cleared, items defined in the policy as “pollutants” may require special care. For example, consider a print shop that catches fire, releasing highly toxic inks and dyes into the ground. Local engineers may require you to extract those pollutants from the site. If so, the cost may be substantial and is typically not covered by a commercial property policy or is limited to a specified dollar amount that may not be enough, such as $10,000

Solution

We can help you amend your existing policy to offer more coverage for the cost to clean up debris. We can also help you minimize your exposure by amending the policy to cover items that are currently excluded, such as those examples listed above. Further, we can help you understand the meaning of “pollutants” in your policy and determine if your property contains items that may require special care to remove

From Trusted Choice http://www.trustedchoice.com/

Times Have Changed!

2011-09-07T14:37:00.001-04:00

Flood Insurance: What It’s All About

2011-09-05T09:00:00.001-04:00

Not so long ago, Hurricane Katrina pounded the Gulf coast of the United States, wiping out more than 250,000 homes.

That massive storm painfully brought to public awareness the fact that flood damage is not covered by homeowners insurance.

Many consumers were unaware that, even though their homes were ruined in the hurricane, they were not insured since they lacked flood insurance. Insurance against flooding (rising water) is different from insurance against driven rain or leakage, which often are covered. Since that time, tens of thousands of Americans have purchased flood insurance for the first time.

Three perils—fire, lightning and windstorm—are traditionally covered by homeowners property insurance. Flooding is excluded from homeowners coverage, as floods tend to be catastrophic in nature causing widespread damage in a geographic area. Private insurers are not able to absorb all that risk.

Hurricanes get a lot of attention, but big storms are not the only cause of floods, nor are floods limited to coastlines. In fact, flooding is the nation’s most common and frequent natural disaster, according to federal officials.

Flood insurance first came about after the federal government was called upon to bail out communities. As the nation grew after World War II, flood-damaged communities turned to the federal government for disaster relief and rebuilding assistance. In the 1960s, Congress sought a more proactive system, and in 1968 created the National Flood Insurance Program (NFIP).

This community-based insurance mechanism requires municipalities to adopt and enforce flood-abatement measures. In order to join the NFIP, it must adopt a program of corrective and preventive measures for reducing future flood damage (including zoning and building requirements). Flood insurance is available only to consumers in communities that have joined the NFIP.

The National Flood Insurance Program (NFIP) is part of the Federal Emergency Management Agency (FEMA). It provides flood coverage to homeowners and renters as well as commercial building owners. Coverage is provided through Trusted Choice^® insurance professionals as well as through other insurance agents.

Flood insurance may not just be desirable for homeowners, it may be required. For example, mortgage lenders are legally bound to require consumers buying a house in a high-risk flood zone to have flood insurance.

Consumers owning or renting property in low- or moderate-risk flood areas can buy flood insurance, and may be eligible for a lower-cost preferred risk flood policy.

Flood insurance protects against losses to buildings and contents (not the property on which they sit). Coverage is in effect whether flooding results from heavy rains, storm surge on the coast, melting of snow, blocked storm drainage systems, levee or dam failure, or other causes. Waters must cover at least two acres or affect at least two properties to be considered a flood for insurance purposes.

Residential flood insurance provides as much as $250,000 of coverage for dwellings for 1-4 families, and as much as $100,000 for contents. Commercial property owners can get up to $500,000 of insurance for the building and the same amount for contents. Condominiums also can be insured.

Unlike homeowners insurance, flood insurance has a waiting period. The NFIP sets a standard 30-day waiting period before flood coverage goes into effect (except for lender-required flood insurance, if more insurance is required because of a flood map revision, or if existing coverage is being increased upon renewal).

From Trusted Choice http://www.trustedchoice.com/

Auto and Home Insurance for Unmarried Couples

2011-08-29T09:00:00.001-04:00

Sixty years ago, when the 1950 census data was released, it showed that eight in 10 households were occupied by married couples. Fifty years later, the 2000 census data showed that number had declined to just over 50%, signifying a sea change in the typical American household. Almost half of households were occupied by a single individual, roommates or unmarried couples (the 2010 census data is still in the process of being made public).

If you are in the “living together but not married” category, you should pay close attention to the language in your home and auto insurance policies that specifies which individuals are covered—in insurance terms, the “insureds.”

HOME INSURANCE
Most standard home insurance policies restrict coverage to a “named insured”—the individual person(s) named on the policy and his or her resident spouse. The policy then extends coverage to “resident relatives,” a term referring to individuals related to the named insured by blood, marriage or adoption (or someone under 21 in your care, such as a foster child) who are residents of the named insured’s household.

This means that a home insurance company has no obligation to cover a non-insured’s liability or to defend that person in a lawsuit alleging liability.

Consider this scenario: A girlfriend and her teenage son move in with the woman’s boyfriend. The son seriously injures another child in a tackle football game at the park down the street. That child’s parents file a suit against the mother/girlfriend.

Unless she has her own separate insurance policy (such as a “renters” insurance policy) or has been added as a named insured on the home insurance policy (which most insurance companies won’t do if she isn’t a relative), she has no coverage.

The problem doesn’t stop with liability. Chances are the girlfriend and her son will also move some of their personal property in with them, but clothes, electronics, school supplies and whatever else belongs to them may not be covered by the homeowner’s insurance policy either. Most policies exclude coverage for personal property that is owned by roomers, boarders or tenants. This personal property exclusion is another reason why a renters insurance policy is essential for non-insured roommates.

AUTO INSURANCE
The auto policy also has a “named insured” which includes the individual listed on the policy and his or her spouse. The insured on an auto policy varies depending on the coverage. For example, liability, medical payments, and uninsured motorist coverage each have their own definitions of “insured.”

Say an adult boyfriend and girlfriend each have a car and their own personal auto insurance policies. One has high limits of liability on their policy, maybe $100,000, and the other has lower limits, like $25,000.

Let’s look at liability coverage in this scenario. This section of the policy covers the “named insured” and “family members” for liability arising out of the use of any auto. It also considers any other person an “insured” while that person is occupying a car (with permission) that is insured under your policy.

Dig deeper, however, and you’ll see that the policy excludes coverage while the “named insured” or “family member” is operating a vehicle that is furnished or available for regular use.

If the girlfriend is driving the boyfriend’s car and gets into an accident causing injuries, his auto insurer would pay up to the policy limits—in this case, $25,000. Unfortunately this may not be enough money to cover the full liability if the injuries are severe, and the liability policy with $100,000 limit might not be available as a fallback, even though it covers the driver for the use of any auto. That’s because the driver’s insurer can argue that this car is available for the driver’s regular use since the car owner and driver live together and that, under that circumstance, coverage is excluded by the policy language

From Trusted Choice http://www.trustedchoice.com/

Loss Assessments: Home or Condo

2011-08-22T09:00:00.001-04:00

If you live in a home in a developed area or subdivision, there’s a reasonable chance that you are a member of a homeowner’s association. The same is true if your pad is a condominium.

Here’s another question: If you receive an assessment from your home or condo association, will your home or condo insurance policy help you pay for it?

The answer, well, depends.

Most home and condo insurance policies have very similar language in how they address coverage for loss assessment. There are a few things you will need to know before coverage can be determined.

In this example, your insurance policy would kick in to help pay the assessment. Why? Bodily injury is covered by your policy.

From Trusted Choice http://www.trustedchoice.com/

Prepare a Home Inventory

2011-08-16T09:00:00.001-04:00

If you were the victim of a major natural disaster and suddenly found yourself with
nothing left, would you remember everything you lost? When is the last time you counted
the number of CDs you own or took stock of the current value of your TV and video
equipment, not to mention your clothing, jewelry and other personal belongings? Too
often, we forget about personal valuables that are stored in closets or drawers. An
inventory will help you remember what you have so you can accurately document your
losses to your insurance company. For example, your insurance company will be less
likely to dispute the value of your antique teapot collection if you have photographs, sales
receipts and other documentation to prove it.

• Make a detailed written or videotaped inventory of your property and house-hold
possessions. Take a video camera and go through every room, taping and describing what
you see. For valuable items, note when and where you purchased them and how much
you paid for them. Include the serial numbers of major appliances.
• Don't forget to inventory the garage, attic, basement and the exterior of your house,
including landscaping and fencing.
• Update the inventory yearly.
• Keep your inventory, insurance policies and other important documents in a safedeposit
box and keep a duplicate set in a fire- and water-proof container at home. Include
important documents such as wills, deeds, titles, stocks, bonds, certificates of deposit,
passports, bank account numbers, credit card numbers, income tax returns, birth
certificates and so on.

STORM-PROOF YOUR HOME
• Keep your home in tip-top shape to protect it against the damage of heavy winds or
rain. Make sure your roof, windows and doors are not in need of major repair.
• Position cribs/beds away from windows or tall furniture that could slide or topple.
• If you live in a hurricane-prone area, purchase sheets of plywood to cover your home's
windows and store them in your garage or shed. If you wait until a storm is imminent,
your local hardware store may be sold out.
• Bolt bookcases and other tall pieces of furniture to the wall.
• Power generators are often used during power outages. If you own one, make sure it is
well maintained and that all family members know how to operate it properly.
• If you live in a mobile home, make sure it is securely anchored down.
• If you own a boat, make sure it is securely moored.
• If there is a fire hydrant near your home, make sure it is clear of debris and can easily be
located by the fire department.
• Remove low branches and dead trees from around your house.
• Clear debris from the chimney, gutters and vents.

Summer Storm Recovery Tips

2011-08-15T09:00:00.001-04:00

Independent insurance agents not only advise clients about insurance, but they’re disaster
readiness consultants. It is imperative to know what your risks are and what to do in the
event of a hurricane. We recommend meeting with a Trusted Choice® independent
insurance agent who can consult with you in assessing your risks and ensuring that you, your
family and your home are prepared in the event of a disaster. Trusted Choice® offers many disaster-specific readiness and recovery tips for consumers.

GETTING STARTED
A good way to begin your planning process is to gather as much information as you can.
There are numerous resources available to guide you through the process of getting your
household prepared to deal with a disaster. Trusted Choice® offers many
disaster-specific readiness and recovery tips for consumers including the following
suggestions to get started:

• Make a list of each of your insurance policy numbers and the insurance company name,
and keep the information in your wallet, purse, or on your mobile device. For example,
nearly all states use some form of a wallet-size auto ID card, which is required to be kept
on your person, or in the vehicle. It's a good idea to do have similar information with you
on all your other insurance coverages.
• Make a record of your insurance agent's web site address, and keep this information in
your wallet, purse or mobile device. After a widespread catastrophe, more and more
agencies post information about claims procedures on their web site. This is especially
important in cases where the agency itself has been affected, and has set up temporary
operations at another location. In addition, agency web sites will usually post emergency
insurance claim phone numbers, etc.
• Use social media to contact your insurance agent. Many agencies use some form of
social media, such as Facebook, Twitter, etc., and these information outlets can provide
vital, timely information about claims procedures and other necessary information for
policyholders.
• Find out how you and your neighbors would be informed about an imminent disaster.
• Ask if evacuation routes have been established.
• Contact your city's or town's planning and emergency assistance organizations. Ask
them for information about disaster planning.
• Contact your children's school(s) or day care center to learn about the emergency plans
they have in place.
• If a family member is in an elder care facility, check to see what emergency procedures
they will follow.
• Take a First Aid/CPR class from the American Red Cross.
• If you have pets, have a contingency plan in place. Many emergency shelters won't
accept them.

.....Next make a Home Inventory

From Trusted Choice http://www.trustedchoice.com/

This Summer, Get In the Water-and Get Out, Safely

2011-08-08T09:00:00.001-04:00

A cool swim on a hot day is an American tradition. As temperatures rise, most folks want to get into the water—whether at the ocean, lake or pool.

Pools present dangers, particularly for young kids. Each year, some 3,500 deaths—about 10 per day—are cause by drowning, according to The Centers for Disease Control and Prevention (CDC). And another 4,000 people are treated at hospital emergency visits total for injuries and trauma related to pool accidents.

The Consumer Product Safety Commission (CPSC) notes that drowning is the second-leading cause of injury death for children ages one to 14. Each year, 283 children under age five die in America’s pools and spas, a statistic that has worsened since the turn of the century. Most deaths and injuries related to pools occur on residential properties. Most involve children ages one to two, according to the commission.

Here are the problems that lead to children drowning in pools:

Unprotected pools. Pools must be treated as attractive nuisances, meaning children will want to get to them to play. One risk: Pools with a three-sided fence where the home forms the fourth side of the barrier. That simply means children can gain access to the water through a door rather than over a fence. Other problems include frost heaving that opens a gap in a fence gate, and wooden fences that rot and break.

“Little children are fiendishly clever and they can get away,” pointed out Dr. Jonathan Midgett of the CPSC. “For those brief moments when children elude us, we need layers of protection around our pools. The more obstacles between your child and the pool, the better! Fences need to isolate the pool from the house; have well-maintained self-closing, self-latching gates; and [have] back-up layers of protection, like sensors and alarms.”

Faulty equipment. Suction outlets in pools and whirlpools are a hazard to catch hair and fingers. Anti-entrapment drain covers must be secured in place.

No rules for the pool. Parents may rely on a neighbor, friend or caregiver/babysitter when children are in a pool this summer. Children must be made to understand that, whoever the authority figure is, they must respect that person’s directions. Make safety rules for the pool clear before anyone sets foot inside the pool area.

Poor supervision. Doctors put it bluntly. “Never leave your children alone in or near the pool, even for a moment,” advises the American Academy of Pediatrics.

The doctors’ group adds a rule of “touch supervision” with children younger than five years. This means that the supervising adult is within an arm’s length of the child at all times.

Children can drown in a pool full of people. This happens when no one adult is designated to supervise the pool or if the supervisor isn’t paying proper attention. The CPSC recommends at least one adult taking responsible for watching children around the water.

“This person should avoid distracting activities that can take their attention away,” explained Dr. Julie Gilchrist of the CDC. Distractions include: playing cards, reading, checking e-mail, and talking on the phone. In the time it takes to do these things, a child may quietly slip under water. “Drownings happen quickly and usually silently,” she added.

Anyone who owns or uses a pool should consider learning basic first aid and cardio-pulmonary resuscitation (CPR). “CPR can make a big difference by reducing the likelihood of brain damage in the few minutes it takes for 911 emergency responders to arrive,” Gilchrist, a medical epidemiologist, noted.

Swim lessons. Learning to swim is not just recreational, but a way to teach children how to save themselves, noted the CDC. Yet even strong swimmers must be supervised, no matter what age.

Any homeowner who has a pool—whether in-ground, above ground, or inflatable/temporary— should have liability insurance coverage, including umbrella liability coverage.

From Trusted Choice: http://www.trustedchoice.com/

Customer Appreciation Event

2011-08-04T15:06:00.001-04:00

Holt and Dimondale Agency

Customer Appreciation Event

_________________________

Date: August 26, 2011

Time: Noon to 5pm

Where: Holt & Dimondale Agency parking lot

2129 Aurelius Rd, Holt

Al Higgins of Century Glass is donning his BBQ apron and will be firing up his grill to provide the community with an exceptional offer!!

________________________________________________________

Al will provide lunch – Dogs on the grill when you bring
your car in for a “free” stone chip repair! That means no charge to you for an improved windshield. A free lunch and an opportunity to make a donation to the Holt Food Bank!

________________________________________________________

We look forward to seeing you, come support your hometown!

When Your Commercial Building is Vacant

2011-08-02T09:00:00.001-04:00

When a commercial building is vacant or unoccupied, there are generally two problems. The property is exposed to an increased amount of risk; for example, it becomes a target for vandals. In addition, discovery of a loss may be delayed; a water pipe can burst and go undetected for days. As a result of the increased risk and delay in detection, insurance policies are not as broad when a property is considered vacant.

Defining Vacancy

In the mid 1990's, commercial property policies started defining exactly when a building is considered vacant. The definition is found in the conditions section of the policy. With each new edition of the policy, the definiton has be revised. Today, you must review the actual policy covering a building in order to determine which definition of vacancy will apply. Some policies state that a building is considered vacant unless at least 31% of the total square footage is being used to conduct customary operations. This would mean that if only one floor of a four story building is being used, the vacancy restrictions of the policy would apply.

The Threshold

For a short period of time, vacancy is not a problem because the vacancy condition in a commercial property policy contains a threshold. Usually after the building has been "vacant" for either 30 or 60 days, the restricitions on coverage are activated.

Restrictions on Coverage

-Excluded Perils

There is no coverage for six causes of loss: theft, attempted theft, vandalism, glass breakage, water damage, and sprinkler leakage.

-Reduced Coverage

For other covered perils, payment of a loss is reduced by 15%. With a $100,000 fire loss, the policy will only pay $85,000.

When a building is unoccupied or vacant, be certain to check the vacancy condition in your property policy. If you are not certain how the provision will apply, get it cleared up before the loss and get it in writing. When your building is vacant check with your agent and ask them your options. He/She should be able to negotiate coverage through an endorsement, vacancy permit, or special vacancy policy. Remember, most carriers do not hesitate to activate the vacancy provisions of a policy if the conditions at the time of claim warrant it.

Written by: Phyllis Van Wyhe, CPCU, CIC, CSP

When Your Home is Vacant

2011-07-28T09:00:00.001-04:00

When a home is unoccupied or vacant, there are two primary problems. The house can become a target for vandalism and theft; in addition, a water loss will often go undetected for a long period of time causing more extensive damage. The insurance industry experiences more frequent and severe losses on dwellings that are vacant or unoccupied.

Impact on Coverage

Your Homeowners insurance policy will respond differently if your home is vacant at the time of loss. Most Homeowners policies exclude vandalism coverage after a home is vacant for longer than 60 days. The policy also does not cover frozen pipes if you have no maintained the heat or drained the pipes.

Coverage Denial

Even worse, some insurance companies deny a claim entirely when a home is unoccupied or vacant. The policy states, "we cover the dwelling where you reside." The insurance company may contend that coverage ceased the day you stopped living there on a regular basis. Many courts have upheld such a denial of coverage when the policyholder is no longer living in the home, even in the belongings were left there.

Season Dwellings

Increased loss exposures also exist on seasonal dwellings, but the insurance industry looks at those homes differently. A company is usually willing to insure the summer cottage up north as long as they know you have someone checking on the building when you are not there. However at the time of loss with a season dwelling, your insurance company may ask for documentation at to the number of days you have spent there over the past few years, to determine whether the dwelling is actually used as a seasonal residence or is actually an unoccupied dwelling that is not used. In the later case, the company may deny coverage on the basis that you no longer reside there.

If your home is vacant or unoccupied, notify your agent promptly disclosing all details. Some companies may permit the situation for a short period of time; most will send out direct notice of cancellation. Your agent can offer you a specialty policy covering a vacant dwelling; unfortunately, the terms of that policy are never as good as those of the Homeowners policy. When discussing the occupancy of your home, you should be totally candid about the circumstances. If an insurance company denies a claim, you may end up paying for an attorney to challenge their decision. That can be expensive and time consuing and you may lose. It is much better to simply have the proper coverage.

-Written by: Phyllis Van Wyhe, CPCU, CIC, CSP

Dont ask after the accident happens!

2011-07-01T12:00:00.001-04:00

Jet Ski's are a ton of fun, but serious stuff. You need to call your agent, and see how your covered, and dont ASSUME its covered, because its not. Don't make me say NO, when you have a problem.

Coverage Options
It's a common myth that your personal watercraft is adequately covered under your homeowner's or renter's policy. In most cases, you need additional coverage. A Foremost insurance policy, on the other hand, can give you more security and more value for your money.

Important Coverages
For real peace of mind as you're out on the water, you need a policy that provides a wide range of coverages. These coverages should include:

Physical Damage
Liability
Wreck Removal
Pollution Liability Coverage
Watersports Liability
Medical Payments Coverage primary

Optional Coverages
For extra protection, and because not everyone's needs are the same, Foremost offers a variety of coverage options:

Increased limits on Liability
Uninsured Watercraft
Accessory Coverage
Personal Property
Towing and Assistance
Trailer Coverage
Liability-Only

Broad Eligibility
A Foremost policy will cover almost all makes and models of personal watercraft. And Foremost also has a specialized program for boats."

http://www.foremost.com/products/personal-watercraft/coverage-options.asp

D.A.R.E. to carry Motorcycle Insurance

2011-06-23T20:08:00.001-04:00

"D - Unnecessary risks might include riding at excessive speeds or not performing preventive maintenance tasks on your bike. Have you checked your tires' air pressure or tread depth lately? Don't drink and ride definitely applies here also.

A - Evaluate your financial situation and prepare to take some of the risk yourself by maximizing the deductible on your motorcycle insurance policy. This alone could save you considerable money.

R - Reduce your exposure to motorcycling's risks by riding on roads with a good surface, riding at reasonable speeds, and always stay off your motorcycle when you've had alcohol. Better yet don't drink at all!

E - Educate yourself by taking a MSF riders course and practice your motorcycle riding skills often. If possible ride to work to keep your skills sharp.

Once you've evaluated your level of risk and took steps to manage that risk, you need to get the motorcycle insurance policy that best fits your needs"

http://www.motorcycle-accessories-wiseguy.com/motorcycle-insurance.html

The VILLAGES Fl - Town of Custom Golf Carts 5-22-11 CBS Sunday Morning

2011-06-01T12:40:00.000-04:00

New hobby for retiree's! Those lucky bums!

Thank you Windsor Township Fire Department

2011-05-18T14:06:00.001-04:00

We at Holt-Dimondale Agency would like to take this opportunity to thank the Windsor Twp Fire Dept for the very professional manner in which the fire in Dimondale was handled. If people do not know there are many people that know that there is a mutual aid agreement between communities but this is a perfect example of how the fire departments respond to big fires. Benton Twp, Delhi Twp, Delta Twp and Potterville all helped with a fire. SO on top of just the thank you to windsor that started in a garage of one house that caught another house on fire that melted parts of two other houses and was throwing burning embers through the entire downtown of Dimondale. 35 Fireman responded at a minimum and saved what could have been a much worse situation. In a time when there are many budget cuts that are being discussed this is the reason Fire, Police and Roads Are what small town governments do well.

A very sincere thanks goes out to the many that were involved in this situation.

Cruise in to Dimondale

2011-05-16T16:05:00.000-04:00

The Dimondale Business Association
Invites you to "cruise in" to Dimondale!

Friday June 17th, 2011
Downtown Dimondale - Bridge Street
...The fun starts at 6pm.
Dinner, Dessert, Shopping.

Our Dimondale Office will be open, come in and join in the fun!!

We have a new website..

2011-04-28T20:02:00.000-04:00

It's coming..just hold your horses!!!

Pretty? these are the kinds of cars I like to insure!!