Here’s a little quiz. Where is your Social Security card right now? What about your passport? Your birth certificate?
- In the safe deposit box at my bank or in a locked file cabinet or fire-rated document chest at home
- I’m not sure, but they must be around here somewhere
- In my purse, wallet or briefcase
If you answered anything but Option 1, imagine your favorite television game show buzzer. Try again!
Passports, birth certificates and Social Security cards are “SUPER IDs.” With these items in hand, a criminal can easily create bogus accounts in your name or hijack legitimate accounts you own. In fact, with these items, criminals can assume your identity and do just about anything they want, costing you money, reputation and your precious time to straighten everything out.
The best way to thwart criminals is to leave at home any documents you don’t immediately need. Lock them in a file cabinet, a home safe or a safe deposit box at a bank. Sure, when applying for a new job or in some other situation where you need proof of citizenship, you’ll need to carry primary identification with you. But lock these documents up when you get home.
Don’t make it easy for criminals. A purse or briefcase is a prime target.
Along those same lines, don’t leave purses, briefcases or backpacks unattended or visible in your car.
It is also a good idea to make photocopies, front and back, of all ID cards, credit cards and other items that you may carry in your purse or wallet. This information will be very helpful in the event the card is misplaced or stolen.
Did you get your kids a smartphone or tablet this holiday season? With schools using technology in classes and kids being exposed to these devices at an early age, the question is often a matter of when, not if. Parents may have questions and concerns about how to keep kids safe online. Here are some tips and resources that can help.
Set The Rules
The first thing you can do to help protect your children online is to set ground rules:
- Outline how much time during the day they can spend on the device
- Establish who your children can call
- Discuss how to behave respectfully online
Many cell phone providers offer parental controls and location services to help you manage usage times and limit who your child can place calls to and receive calls from.
You may also want to consider having your child sign a cell phone contract with you.
Social Networking Safety
With devices come apps, and many social networking apps involve setting up a profile and sharing information around common interests or activities. These apps can be fun and addicting, but if you aren’t familiar with them yourself, they can be intimidating. Check out the sites and services your child uses.
Discuss what is and is not appropriate to post, so that your child doesn’t share more information online than you are comfortable with. The following tips from the National Crime Prevention Council can help your child think before he or she posts:
- Should I share this? Will the information I share put me or someone else in danger?
- Do people really need to know where I am and who I am with? Is it a good idea to let everyone know my exact location?
- Am I selecting online friends that I can trust? It’s not just about what I post, but how others may use that content.
- Is the information I am sharing transparent? Before I share information to the public, does my post give out too much personal information?
Prevent Cyber Bullying
Cyber bullying involves threats or harassment that happens online. This can be words or pictures that are posted with the intention of hurting someone’s reputation or feelings. The OnGuardOnline website sponsored by the Federal Trade Commission gives tips to recognize and prevent cyber bullying and provides additional resources for parents. The Cyberbullying Research Center also provides guidelines for parents.
It goes without saying that one area’s definition of a blizzard is not necessarily another area’s definition. Yet all things being equal – when it’s best to stay home then it’s best to be prepared.
Long-range weather predictions for 2014-2015 suggest another cold winter is on its way across much of the U.S. Severe winter weather ̶ including blizzards ̶-is a reality. So how does one prepare for a blizzard?
The first inclination for many of us is to drive to the closest grocery store and stock up on the essentials to help carry us through the upcoming event! While adequate provisions are an important consideration, there are a number of steps you can take to protect yourself and your family:
- Pay close attention to weather warnings and alerts so you know the storm’s timeline.
- Charge electronic devices. Now is the time to adequately charge your cell phone, laptop
- or other electronic devices. Once charged, try not to use them unless absolutely necessary. You may want to consider purchasing a hand-crank charger to serve your devices. A battery-operated radio is also a good investment.
- Stay inside and off the roads. You risk being stranded in your vehicle, which could be life threatening. In addition, municipalities typically ban travel in extreme winter weather.
- Have an adequate supply of non-perishable food already stored at your home. Don’t wait until the storm hits, because supplies in stores could be depleted. Remember to plan for pets.
- Have an adequate supply of water. Experts suggest a gallon of clean drinking water per person, per day. Again, don’t forget pets!
- Blankets and warm clothing seems obvious. However, you will need enough blankets to keep warm in an emergency in case your normal electric or gas heat is disrupted. Consider hooded sweatshirts and mittens.
- Have a sufficient supply of prescription medications on hand.
- A camping stove or grill can be a wise investment. However, be careful to properly ventilate when cooking with any combustible fuel to avoid carbon monoxide poisoning.
- You may want to consider an emergency electrical generator as an alternate source of power.
- If your home sustains any damage as a result of the storm, please contact your insurance agent or representative immediately to file a claim.
With any luck, the storm will be short-lived and your supplies will be sufficient for the duration of the storm. When the danger has passed, remember to restock on non-perishable food and other supplies. If appropriate steps are taken, the memory of the storm will be just that, a good memory.
More information about planning for extreme weather is available in the Federal Emergency Management Agency’s How to Prepare for a Winter Storm guide.
With the holiday season fast approaching, many of us are out shopping and enjoying the festivities. In this joyous atmosphere, we also need to be aware of our surroundings and develop a safe routine because unscrupulous individuals may be out to take advantage of our festive mood.
Some things to keep in mind when you are out:
- Never leave valuable items in clear view in your vehicle – thieves target your car for items they see; put your valuables in the trunk
- Always lock your vehicle when you park
- Park in well-lit areas
- Park in an area with heavy foot traffic, not in an isolated spot
- When stopping for fuel, always lock your vehicle if you leave it
- When pumping gas, lock the doors on the other side of the car to prevent thieves from grabbing your purse or other valuables while your attention is diverted
- Never leave your keys in your car or the ignition – your car key ring usually has your house keys on it, and this could prove dangerous and costly
- When you are out at malls, parking areas and ATMs, be aware of your surroundings:
- Always make sure your valuables are secured.
- If you carry a purse or satchel, make it safe from people taking it from you; don’t leave your purse in the seat of a shopping cart
If you do become a victim:
- Immediately notify police and provide them with as much information as you can concerning the property taken
- Immediately, while the information is fresh in your mind, note a description of the responsible individual and his or her vehicle, license plate number or other identifying information
- Make note of the direction the thief fled, and pass that information to the authorities
Enjoy the holiday season, protecting your family and fun by taking good precautions.
These days it seems most people find it convenient to use credit or debit cards rather than carry cash or write checks for each purchase. Recent headlines concerning account information breaches should be of concern to all card users.
Important differences between credit cards and debit cards may affect your decision about which to use for your purchases. Keeping these differences in mind when making purchases might help you protect your money if your accounts are hacked. Debit cards act like an electronic checkbook. When you use a debit card, money you have in your bank account is immediately “debited” and transferred to the merchant where you used the card. When you use a debit card, you are granting access directly to YOUR money in YOUR account.
Credit cards draw the bank’s money from a line of credit the issuing bank has granted to you. In other words, when you use your credit card, you are taking a loan of the bank’s money – and the merchant (or cybercriminal) does not have access to YOUR money.
Another significant difference between these two types of cards is that debit cards may allow only two days after a fraudulent debit has been taken from your account for you to challenge that debit, while the time to challenge fraudulent credit card charges is more generous.
You can tell the difference between the two types of cards by how you use them. If you need to enter a personal identification number (PIN), the card is a debit card.
While it is bad enough to have a credit card account hacked, at least you still have your money available to you while you fight the fraudulent charges. However, when it is YOUR money that is stolen when using a debit card, you no longer have access to that money while you fight the debit from your account.
The Federal Deposit Insurance Corporation, the government agency that insures deposits to banks and thrifts, offers a more detailed explanation of the differences between debit and credit cards, as well as a helpful chart describing the two types of cards.
For all those smaller to average sized gifts, here’s a very simple and amazing hack which shows what might be the best way to wrap a gift ever! In the video two gifts are wrapped in under 30 seconds using just 2 pieces of tape and the technique starts with angling the box to the paper’s corner. There’s got to be something to this method we can all learn from.
National Teen Driver Safety Week is October 19-25.
It’s an exciting time in teens’ lives when they first begin driving, but it’s also an extraordinarily dangerous time as distractions seem to be everywhere. According to the National Highway Traffic Safety Administration (NHTSA), motor vehicle crashes are the leading cause of death for kids and young adults ages 14 through 18.
Despite this, the NHTSA says just 25 percent of parents have a serious talk with their kids about the key components of safe driving.
So, with National Teen Driver Safety Week coming up October 19-25, here are five recommended rules to spell out before your teen gets behind the wheel:
1. Absolutely no alcohol.
There is no legal limit for alcohol when it comes to teen drivers. Having any amount of alcohol in their system is illegal for all those under 21, everywhere. On average, according to the NHTSA, 25 percent of deaths in motor vehicle crashes involve a teen driver with a blood-alcohol content of .01 or higher.
2. Seat belts required.
Drivers and passengers ages 16 to 24 historically use seat belts less often than other groups. Let teens know that seat belt use is non-negotiable. It’s the easiest way to protect themselves in a crash. And, set a good example by buckling up yourself.
3. Never speed.
Teenagers may like to push the limits, but the road isn’t the place to do so. Speeding doesn’t simply put them at risk for a ticket. It increases the risk of a deadly accident as well.
4. No calls, no texts.
It’s never a good idea for anyone to call or text while driving, but, because teens lack experience behind the wheel, distracted driving is all the more risky. Reaction times are slower when someone is distracted. Even worse, sending or reading a text means a driver’s eyes aren’t on the road.
5. Only one passenger (or zero, depending on your state’s licensing guidelines for young drivers).
As the number of passengers rises, so does the risk of a fatal crash, the NHTSA says. Think back to when you were a teen driver — how different were your actions when you had friends in the car versus when you were alone?
Let young drivers know that driving is a privilege and that you’ll take away the keys if they don’t drive safely. Then, have regular conversations about driving safety and other issues to ensure the lessons don’t fall by the wayside. Soon, you’ll have another trusted and responsible driver in the family – maybe even one that qualifies for a car insurance discount.
It’s dark, and the sidewalks are full of young kids walking up to every house on the block and declaring, “trick or treat!” — all while wearing masks. Sounds like a recipe for disaster, but we all know that Halloween is great fun for children and adults alike.
Before all that fun, however, there are some basic precautions you should take to ensure the whole family has a safe and sane Halloween. Here are some tips from the experts at the U.S. Product Safety Commission and other agencies:
Get the right fit for costumes.
Masks that are too big can slide around and block a child’s vision. A cape that is too long can cause trips and falls. Baggy clothing can easily brush against a candle and catch fire. So make sure those costumes fit. And don’t forget accessories. Whether they’re play swords or wands, they should be soft and flexible.
Know where you’re going before you leave.
If you’re going to be out after dark, it makes sense to stick to places you know. Go to familiar neighborhoods and only approach houses that have their outside lights on. Finally, never let kids enter a stranger’s home without an adult accompanying them.
Keep things bright.
Because you’ll likely be walking around at night, it’s crucial that drivers and other people can see your group. Carry glow sticks and strong flashlights, both for your own vision and so you’re visible to others. Put reflective tape (usually available at hardware and sporting-goods stores) on costumes, clothing and candy bags. And, if you’re taking pets out with you, make sure they can be seen, too. You can add reflective tape or attach a flashing light to collars or leashes.
Check out the candy.
Your kids are going to be eating the stuff, so, when you get home, make sure nobody has tampered with it. You’ll want to watch for choking hazards as well if you have young children. Finally, be sure to keep the loot away from your pets. Candy isn’t good for them, and some ingredients, such as chocolate, can be toxic.
There are plenty of opportunities for fun on Halloween, but dangerous situations are lurking as well. Remember that a little planning will go a long way toward safety on October 31.
And don’t forget moderation. A little candy goes a long way, too!
With football season already upon us, can winter heating season be far behind? Whether you are maintaining a home heating system or equipment at your business, preventive maintenance is important, especially for hot water or steam heating boilers.
Heating boilers can cause extensive damage due to explosion and can be more costly to replace than gas or electric furnaces.
Neglected maintenance can be costly for owners who may overlook this important and expensive equipment. A modest investment in a sound maintenance program for gas furnaces, hot water boilers, steam boilers and high-efficiency boilers can return dividends all winter long for owners or operators.
For many business owners or homeowners, this can mean fewer emergency repair bills, more efficient operation (lower fuel costs) and longer equipment life.
YOUR PRESEASON CHECKLIST
For hot water or steam boilers:
- Clean the internal (water) side of the boiler
- Inspect and clean burners
- Ensure that low water fuel cutouts are functioning properly
- Inspect and test all controls and safety devices
- Clean or replace all air inlet filters as needed
In addition, make sure the automatic dampers for outside air are working properly so the boiler room does not freeze due to broken windows or damper control issues.
For gas furnaces:
- Inspect and clean burners
- Inspect and test all controls and safety devices
- Check the combustion blower housing for lint or debris and clean as needed
- Clean or replace all air inlet filters as needed
Ensure the inlet/return air and exhaust flues cannot be blocked by snow or pest infestation, such as a bird’s nest.
DURING THE HEATING SEASON
Test the low water cutout control on any steam heating boiler at least once each week, and test other safety devices regularly.
Owners or operators who are unfamiliar with controls and safety devices can hire a reliable service organization to check and service the equipment prior to and during the heating season. Most heating, ventilation and air conditioning contractors will inspect and check over 20 different items on a gas furnace during their inspection.
Remember, the best offense is a good defense when it comes to taking care of your heating equipment! A planned preventive maintenance program may be just the ticket.
The warm days and cool nights of autumn will soon arrive along with those beautiful leaves that we all enjoy so much. As majestic as those trees look while the leaves are still attached, what do we do when leaves begin falling to the ground, covering the landscape?
Many of us have happy childhood memories of burning leaves. But is that really the best alternative?
Many municipalities now either ban or discourage the burning of yard waste. Before you burn, check with local authorities or your state’s department of natural resources to see whether a permit is required. If you live in an area prone to forest or wildfires, you may have “red flag” burning restrictions in place.
Leaf burning contributes to air pollution, health risks for some, and fire hazards:
- Smoke from burning leaves contains toxic or irritating particles and gases that can increase the risk of respiratory infection.
- Carbon monoxide can result from incomplete burning, especially when leaves are wet. Inhaled carbon monoxide is absorbed into the bloodstream, where it can reduce the amount of oxygen that red blood cells carry.
- Local fire departments can attest to house fires that have resulted due to unsafe burning of leaves.
Fortunately, there are some very good alternatives to traditional leaf burning. You may be fortunate to have a municipality that will pick up the raked leaves if left at the curb, either in a pile or in appropriate bags. Check with your city or county government for details.
Another great option is to compost the leaves yourself or to use the leaves as mulch around garden and landscape beds.
Of course, you also have the option of just mulching the leaves with the lawnmower. They make an excellent soil conditioner. Today’s mowers do an excellent job of shredding the leaves into very small pieces.
After you’re done with your yard work, you can always enjoy a safe fire in your fireplace!
For over twenty-three million students nationwide, the school day begins and ends with a trip on a school bus. The greatest risk is not riding the bus, but approaching or leaving the bus. Before children go back to school or start school for the first time, it is essential that adults and children know traffic safety rules.
- When backing out of a driveway or leaving a garage, watch out for children walking or bicycling to school.
- When driving in neighborhoods with school zones, watch out for young people who may be thinking about getting to school, but may not be thinking of getting there safely.
- Slow down. Watch for children walking in the street, especially if there are no sidewalks in neighborhood.
- Slow down. Watch for children playing and congregating near bus stops.
- Be alert. Children arriving late for the bus may dart into the street without looking for traffic.
- Learn and obey the school bus laws in your state. Learn the “flashing signal light system” that school bus drivers use to alert motorists of pending actions:
- Yellow flashing lights indicate that the bus is preparing to stop to load or unload children. Motorists should slow down and prepare to stop their vehicles.
- Red flashing lights and extended stop arms indicate that the bus has stopped, and that children are getting on or off. Motorists must stop their cars and wait until the red lights stop flashing, the extended stop sign is withdrawn, and the bus begins moving before they can start driving again.
- Get to the bus stop at least five minutes before the bus is scheduled to arrive.
- When the bus approaches, stand at least three giant steps (6 feet) away from the curb, and line up away from the street.
- Wait until the bus stops, the door opens, and the driver says that it’s okay before stepping onto the bus.
- If you have to cross the street in front of the bus, walk on the sidewalk or along the side of the road to a point at least five giant steps (10 feet) ahead of the bus before you cross. Be sure that the bus driver can see you, and you can see the bus driver.
- Use the handrails to avoids falls. When exiting the bus, be careful that clothing with drawstrings, and book bags with straps don’t get caught in the handrails or doors.
- Never walk behind the bus.
- Walk at least three giant steps away from the side of the bus.
- If you drop something near the bus, tell the bus driver. Never try to pick it up because the driver may not be able to see you.
- Teach children to follow these common sense practices to make school bus transportation safer.
Having a car at college can give a student the freedom to come and go from work or to explore surrounding areas without depending on others. But having a car also means greater responsibility. Here are some common driving situations that you and your college student should discuss before your student and their car heads to college.
Driving in a new area – Urge your young driver to learn the laws in the new community, as they may differ from your hometown. Are U-turns legal? Can you turn right on red? How about turning left on red on a one-way street? Failing to obey local traffic laws may result in a ticket or an accident. The Governors Highway Safety Association website offers a state-by-state look at traffic laws, including regulations for distracted driving, seatbelts, speed limits and work zones. Most colleges have a community liaison office that can provide information about local laws.
Allowing others to drive or being the default driver – Set rules and expectations for who can use the car. When your student is the only roommate or the only one among a group to have a vehicle at school, he or she may become the default driver. Worse, the student may allow others to drive the car. Both result in the car being used more than expected and having a higher risk of an accident. Check with your insurance agent to understand the terms of your auto policy and make sure appropriate coverage is in place if this is the circumstance you may find yourself in. While you may be confident of your student’s driving skills, the driving capability of roommates and friends is an unknown.
Alcohol – While everyone hopes and expects their college student to be responsible when it comes to alcohol, college is a time where experimentation can occur. Even the most responsible person cannot think clearly under the influence of alcohol and may decide to drive, allow someone else who was drinking to drive, or to ride with an impaired driver. The National Institute on Alcohol Abuse and Alcoholism offers a resource guide, “College Drinking,” for parents to use when talking to their college students about alcohol use.
Claims resulting from a motor vehicle accident can have an adverse effect on insurability and insurance costs, whether the auto policy is in the parents’ or the student’s name. Accidents, tickets or other violations may cause insurance premiums to increase. If the car is loaned to another person who then causes an accident, the owner of the vehicle may be held liable. Similarly, if your student borrows someone else’s car and causes an accident, you may be liable if the claim exceeds the car owner’s limits of insurance. Your insurance company will consider all of these factors when deciding how much premium to charge or even whether to renew your policy.
The freedom of being able to drive and go wherever you want, whenever you want, is important to those on the cusp of adulthood, but it is equally important to stay grounded with rules about who can drive and when.
Coverages described here are in the most general terms and are subject to actual policy conditions and exclusions. For actual coverage wording, conditions and exclusions, refer to the policy or contact your independent agent.
Test the Rule of 3.6%
How do you know if you own enough life insurance? Life Insurance can never replace a husband, wife or parent, but for most it’s intended to restore the income a family depends on in a loved one’s absence. The Rule of 3.6% might be helpful in answering how much insurance you should own.
Here is the simple calculation:
Let’s say you own $250,000 in life insurance, $120,000 of which is intended to pay off the mortgage at time of death. Your beneficiaries would be left with $130,000 to invest or allocate for other purposes. You may think, “That looks like a proper sum.” But how can you evaluate how this remaining $130,000 might provide toward the monthly income your spouse and children will need?
The Rule of 3.6% is a simple guide to estimate the approximate monthly amount your life insurance proceeds might provide if invested with a return of 3.6%.
Test the formula for yourself:
Take $130,000 and cross out the last four numbers. That leaves 13. Multiply 13 by 30. That equals $390 per month.
If you find this monthly income amount surprising small, you are not alone. Even when major family debts are paid off, a monthly income amount this small may present a financial challenge that is too great for your family to overcome.
Most people never prepare to leave their loved ones to struggle, but very few evaluate their life insurance needs with this simple formula. With so much at risk, why not ask us for more information? You may be pleasantly surprised by the affordability of different life insurance choices.
Source: Note: The investment return example of 3.6% is hypothetical and for illustration purposes only. It does not indicate or assume any specific account or investment recommendation. This calculation does not take into consideration all the factors considered in a complete analysis.
Do you have a young adult attending college?
College can be a fun time for the student but a stressful one for the parent. Reduce some of the stress by planning ahead to make sure your college student has appropriate insurance protection while away at school.
Insurance companies cover full-time students under age 25 in various ways. If you have any questions at all you’ll want to consult with us about your specific policy and situation.
There are three basic ways a student may have coverage:
- As a percentage of the personal property limit on the parents’ homeowner policy. Many insurance companies consider campus housing a secondary residence for the student and may cover your student’s possessions as a percentage of the personal property limit on your homeowner policy – personal property means items you can remove from your home or premises. For example, if you have $75,000 in personal property coverage, your student may have 10 percent of that, or up to $7,500, in coverage for belongings taken to school. Liability coverage – which insures legal liability for bodily injury or property damage to others – may not be included.
- As part of the personal property limit included in the parents’ homeowner policy. Some insurance companies offer broader coverage through their homeowner policies. These companies allow the parents’ personal property limit to include the student’s belongings and liability without defining a percentage. For example, if you have $75,000 in personal property coverage on your homeowner policy, this includes items you have in your home as well as those that your student takes to school, and liability coverage is automatically included.
- Under a separate renter’s insurance policy in the student’s name. Some insurance companies contend that being away at school for nine months of the year is long enough to require a separate renter’s policy to cover belongings and liability. Liability insurance is usually included in a renter’s policy. Keep in mind that a renter’s policy in the student’s name may be the more expensive option. However, renter’s insurance does not cost much to being with. In most situations, each roommate will need a separate insurance policy.
As your child is away at school, remember to ask your independent insurance agent to review your policy if need be so that you and your student can make the transition to college as stress-free as possible.
Coverages described here are in the most general terms and are subject to actual policy conditions and exclusions. For actual coverage wording, conditions and exclusions, refer to the policy or contact your independent agent.
With schools now full of activity for the fall, school buses are once again traveling the roads.
While statistically school buses are the safest method to transport children to school, it’s a good time for parents to remind children to follow safety rules while on the bus and at the bus stop.
At the bus stop:
- Allow plenty of time to arrive at the bus stop. Children hurrying to catch the bus may make careless mistakes that could lead to injury.
- Always walk, DO NOT RUN to the bus stop.
- Walk on the sidewalk. If there is no sidewalk, walk on the left side facing traffic.
- Stand at least six feet away from the curb to be visible to the bus driver. For most children, this would be approximately three big steps. The bus driver sits high in the seat and may not be able to see anyone standing on the curb.
- Never speak to strangers at the bus stop, and never get into a car with a stranger.
On the bus:
- Walk directly to a seat and sit down.
- Do not hang out the windows or throw things on the bus.
- Always stay seated when the bus is moving – wait until the bus has stopped before retrieving dropped items.
- Talk quietly so the bus driver is not distracted.
- If there is an emergency, listen to the driver and follow instructions.
Exiting the bus:
- When exiting the bus, walk at least six feet away from the door (three big steps) to be visible to the driver.
- Stay away from the bus wheels, and watch out for moving cars.
- Never return to the bus to get a forgotten item. The driver may not see someone coming back to the bus.
Drivers who share the road should also be especially alert:
- Be aware of when school begins and ends. Watch for children going to and from the bus.
- Follow posted speed limit signs for school zones.
- Never pass a stopped school bus if the stop sign is extended or the red lights are flashing. Wait until the lights stop flashing and the bus begins moving again to proceed.More information about safety for school bus riders and drivers and for those sharing the road is available from the National Highway Traffic Safety Administration.
As early as they start school, children become involved in extra-curricular activities. Adults charged and volunteering with getting groups of kids from home or school to the ball field and back home again are usually more concerned with maintaining their schedules and sanity than auto insurance. However, moving kids around could have a serious affect on your auto coverage needs.
In an auto accident, we all know drivers can be legally liable for their passengers’ injuries. Most personal auto policies will extend some degree of coverage for injuries to passengers when driving your own car. But what if you rent or borrow a large van to take the soccer team out of town for a weekend tourney?
School employees, such as teachers and coaches, who use their school’s vehicles to haul students and players from place to place have another reason to be concerned. In addition to possible size restrictions, there’s a concern with regular usage; specifically, your personal auto insurance policy may not pay for your liability from an accident in a vehicle that is not yours but is provided for your regular use. In addition to uncertainty with whether or not your policy will even respond, another serious concern is adequate limits of insurance. A serious injury to a single passenger could mean tens of thousands of dollars in medical and other costs stemming from the injury, and those dollars increase with the more passengers that are involved. There are published accounts of accidents involving adults driving in a car pool in which damages quickly exceeded $1 million.
Yet, many adults continue to purchase auto liability limits based on the minimum required by state law. In some states, this required amount may be as little as $10,000 per person and $20,000 total for all injuries in an accident—not likely sufficient when you consider the severity of certain injuries and the number of passengers involved. Remember also that this limit applies for all injuries caused by an accident for which you are liable, including passengers of other cars.
Adults driving kids to athletic and other events should consider maintaining the highest liability limits possible, as well as a personal umbrella policy. The umbrella can provide much higher limits of liability, some well over $1 million, and this kind of liability protection is among the least costing insurance there is.
Today’s drivers are faced with a multitude of distractions that pose a risk for accidents. Understanding your personal auto and liability insurance needs should help to bring at least a little peace of mind. So if your involved in the transportation of kids, other than your own from time to time, then a brief conversation about those risks is certainly worth a few moments of your time to discuss with us and we invite your call.
Regardless of your location, the summer months are usually the prime part of the year for natural disasters. One of the best and most affordable things we can do to see ourselves through a disaster is to be prepared and one great way is through the use of apps on our phones and devices.
Both Android and Apple mobile devices offer a wide variety of apps that users rely on daily. Because of this, these devices have become an integral part of our lives and would no doubt be on hand if disaster struck. The upside to this is that there are apps that can help you and your family as well as work associates whatever the disaster. Here are three of the best types of disaster related apps out there in order to prepare.
It is always a good idea to know what the weather forecast is for your local area. This can help you predict what could happen and even prepare your business should say a big storm be rolling in. There are a wide variety of weather apps out there and it can be difficult to actually pick which is the best to use. Here are a few to look at first:
- The NOAA Weather Radio - Available on iTunes for iPhone and iPad users, this app is the official app for the National Oceanic and Atmospheric Association. When installed, you can receive local weather forecasts based on your location and storm or severe weather warnings pushed directly to your device. The app can be found on iTunes and costs just a few dollars.
- Weather Underground - This app is among the most powerful weather apps out there. Using a wide variety of weather stations and user submitted weather it is up to date and able to offer accurate forecasts. With a Weather Radio feature, and push notifications of weather alerts, you can easily track potential storms. There is also the WunderMap which has radar, reports and IR Sat views as well. The app is available for free on Google Play and iTunes.
- Local Weather Apps - Many TV stations and weather organizations have localized weather apps that focus on just local conditions. If you live in a severe weather prone area, it would be a good idea to see if your local TV station has a weather app, as this could be the quickest way to receive relevant updates.
Red Cross Apps
The Red Cross has a number of excellent survival oriented apps that could really come in handy for when a disaster strikes. These apps provide tips on how to prepare yourself and your family, as well as buildings for disaster, and what to do during and after a disaster strikes.
The best part is that most of the information is available offline, so you will have access to it even if cell networks are down. Some of the apps even provide weather alerts that will sound even if the app isn’t open, alerting you about any impending danger.
These apps are all available for free on Google Play and iTunes. The best thing to do is to visit the Red Cross website and look for the apps that are relevant to your local area e.g., if you are in the mountains the Forest Fire and First Aid apps may help. The apps are all free and can be downloaded by clicking the links for your device’s app store on the Red Cross site.
Social Media Apps
Social media services could prove to be a good way to connect and communicate during a disaster. One of the biggest added advantages to using social networks is that the servers that host the service are located around the world, so the chances of the service being down is fairly slim. If you have Internet access, you will be able to access the service.
A few simple tips to help you leverage your mobile device during a disaster
- Install relevant apps - In order to be prepared, you should install the apps necessary to communicate during a disaster, along with a weather app and if necessary a survival app.
- Ensure your contacts are up to date - To be sure, you should periodically update your contacts. Should anything happen you will know how to contact people and have a higher chance of being able to get in touch.
- Establish procedures to follow during a disaster - This is arguably the most important preparation you can do. Take the time to establish procedures you and your family should follow during an emergency. Include where people should meet, backup plans, contact suggestions and the roles you expect your everyone to take.
- Keep your batteries topped up - Mobile devices rely on batteries to operate, and during a disaster you may be without a power source for an extended amount of time. Therefore, Minimize use during a disaster. Ensure your batteries are full, or charges as often and has high as possible.
- Invest in a good power bank - Power banks are useful tools that are essentially big batteries. You can charge them up then use them to charge your devices. Take a look for one that is at least 9000 MHZ, or higher. The higher the number the bigger the charge.
Safety Makes Your Summer Party Memorable—In the Right Way
Summer is truly party time in America between friends and family. But homeowners should be aware of the risks associated with these get-togethers. Before reviewing safety tips, let’s look at three common risks for which a homeowner might need insurance coverage:
Liquor liability: Most homeowners know that they bear some responsibility if a party guest becomes impaired after consuming alcoholic drinks at the homeowner’s house, and then drives, causing a car accident. If the party-giver is sued, however, his/her homeowners and automobile insurance policies may not provide liability coverage. (Keep in mind that the legal defense against a claim is another significant expense for anyone who is sued in such a circumstance.)
Changes to homeowners insurance standard contracts over a decade ago may limit the coverage available under a homeowners policy. Homeowners might be well served to check their homeowners and auto insurance policies (contacting their agent, if necessary) to determine what protection they may have.
Personal accidents on the homeowner’s property: A homeowners policy and an excess liability policy (dubbed an “umbrella” policy) provide broad protection for accidents on the party host’s property. For instance, if a guest tumbles down the steps of an outdoor deck or a child is burned by the outdoor grill, the homeowners policy would pay medical costs for the guest (and, should a lawsuit follow, likely would pay the costs of defending against the lawsuit and any subsequent damages awarded in the case).
No one, of course, wants to see such events occur, but accidents can and do happen. Homeowners coverage is designed to “make whole” a homeowner who is facing a liability claim due to an accident on his or her property.
Property damage liability: When guests drive to your party and park their cars at your home, the homeowner assumes risk. The possibilities of property damage range from a simple dent from a stray baseball, to a young driver releasing the parking brake and rolling the car into a tree. A different example of property damage is the theft of a guest’s purse/wallet or valuable articles from the party-giver’s property.
Homeowners coverage pays for damage to another person’s property, if the homeowner is held liable. A homeowner’s negligence and omissions (i.e., failing to take steps that might have prevented an incident) are reasons that he or she can be found liable for damage to another person’s property.
To prevent accidents, consider some sensible safety precautions:
Some 5,000 people are injured by charcoal, wood-burning and propane grill fires each year, according to the U.S. Fire Administration of the Federal Emergency Management Administration. Good safety practices include:
- Before using a propane gas grill, check the connection between the tank and the fuel line. Make sure the Venturi tubes (where the air and gas mix) are not blocked, and check hoses for cracks or damage.
- Never use a propane barbecue grill on a balcony, terrace or roof. And never grill/barbecue in enclosed areas, as deadly carbon monoxide can be produced.
- Keep a fire extinguisher or a source of water (a garden hose or four-gallon pail of water) near an outdoor grill or barbecue.
- While barbecuing, don’t wear loose clothing. Use long-handled barbecue tools and/or mitts that are flame resistant.
- Don’t squirt flammable liquids onto an open flame.
- Don’t leave a grill unattended.
- Keep matches and lighters away from children. Supervise children around outdoor grills, which are objects of curiosity.
- If using a charcoal or wood fire, dispose of hot coals properly by soaking them with water, then stirring to ensure that fire is extinguished. Never place them in plastic, paper or wooden containers.
- Keep alcoholic beverages away from the grill since they are flammable.
Liquids containing alcohol cause the human body to lose more fluid, say health educators. So summertime drinking in the sun or heat can present hazards to health, including impaired judgment, balance and coordination. Consider these safety tips if serving:
- Use designated drivers.
- Make non-alcoholic beverages as available as alcoholic drinks.
- Stop serving alcohol well before the party ends.
- If children are attending the event, remember that alcohol may seem more available to them at a party.
Food-borne illnesses favor the hot conditions found at outdoor events where food is not refrigerated or may be undercooked. The U.S. Department of Agriculture offers food safety tips:
- Cook foods thoroughly to safe minimum internal temperatures.
- Keep hot foods hot and cold foods cold. Hot foods should be heated and maintained at 140 °F or warmer. Cold foods should be held at 40 °F or colder. Maintain cold by placing food dishes in bowls of ice or in a cooler.
- Live by the “two-hour rule”: Foods should not sit at room temperature for more than two hours.
Everyone likes a great summer party, especially when they’re safe. As always, if you have questions or desire more information about homeowners insurance and umbrella coverage simply contact us… you local independent insurance agent.
Moving generally indicates an exciting time of transition and life change- whether it’s moving from home for the very first time to an apartment or downsizing because the kids have all moved out. Whether you’re handling the move yourself with the help of friends and family or whether you hire professional movers, moving can be as stressful as it is exciting, and one way to relieve some of that stress is knowing that your possessions are protected during the transition. Whether your move is across the street or across the country it’s important that you discuss your upcoming move with your independent insurance agent.
Insuring Your New Place (And Your Stuff)
First of all, your belongings are protected by your homeowners or renters insurance policy against damage and loss. But it’s important to know that when you move from an apartment to a house or house to house or apartment to apartment or condo to… well, you get the idea… your homeowners or renters insurance won’t follow you and your property to the new place. Moving to a new home means that the risks to your property change, and as your risks change, so should your insurance.
Since you have coverage for the contents of your home under a standard homeowners or renter’s insurance policy, the best option to protect those is to make sure that there is no gap of time between the expiration or cancellation of your policy on the home you’re moving out of and the effective start date for the policy for the home you’re moving into- one way to do this is to have the new policy start the day you are planning on moving. Not only would this help provide coverage for your contents, but it would also provide you with personal liability coverage during the time of the move. If you’re moving out of state, ask your insurance agent if they’re licensed in the state you’ll be moving to, and if they aren’t, ask them if they are able to refer you to another agency.
Protect Your Stuff During the Move
Now what about your contents in transit? If you’re renting a truck or a van for the move, the rental company may offer you additional insurance coverage. If you use a professional moving company, under federal law interstate movers are liable for the replacement value of lost or damaged items. However, they may present you with different options for coverage, including Full Value or Released Value. According to the US Department of Transportation, Full Value is more comprehensive coverage but it may cost more out of pocket, whereas Released Value is offered at no additional cost, but may only cover your belongings up to 60 cents on the dollar. If you opt for the Full Value, make sure you have an up-to-date estimated value for the belongings you’ll be moving. If you have an accurate and comprehensive home inventory, this shouldn’t be too difficult of a task.
One argument for taking the coverage from a rental company or a moving company (even for in state moves) is that if something does go wrong and can be covered by that policy you could avoid filing a claim with your own homeowners/renters insurance company and having to cover costs out of pocket to meet your deductible. Just be sure though that the coverage offered by a moving or rental company is enough to replace or repair damaged or lost items. Talk with us about your coverage and deductible so you can figure out a plan to protect your belongings that works for you.
What If I’m Putting Some of My Stuff in Storage?
If you’ll be temporarily storing property at a storage unit during your move, you should know that some insurance policies will only insure items in a self-storage facility to 10% of your personal property limit, which may not be adequate to cover your stored furniture, rugs, etc. You should be able to raise that coverage with what’s known as an endorsement to the policy, so make sure you tell your agent if you’re storing anything at a self-storage facility as part of the move and this includes those mobile pod and container systems.
As professional and independent insurance agents we have the ability to work with multiple insurance companies, so we are uniquely suited to help you find the coverage that’s right for your new place and for getting you and your stuff there.
Google has unveiled a seemingly truly “driverless” car that lacks a steering wheel, brakes or anything else that allows a driver to control its movements. This actually strikes me as a much bigger deal for the insurance industry than the optionally self-driving cars that have received so much attention and seem likely to come to market within the next few years. And, while the short-term insurance implications of the type of self-driving cars that are coming to market soon seem pretty modest, the new truly driverless models seem a lot more likely to have big effects.
Let’s start with what’s going to happen soon. Self-driving cars that require a “pilot” in a driver’s seat and have a steering wheel, accelerator and brakes are really just an evolutionary change in vehicles that increasingly have become more automated over the last decade. As such, the changes in auto insurance are also going to be evolutionary. All major automakers already sell models with traction control, self-parking, collision avoidance and adaptive cruise control features. Together, these features make a car “half self-driving” already.
The “self-driving car” that will probably be on the market within a few years just adds a steering and navigation functions to this already widely deployed suite of features. Since drivers will still be able to control these cars, they will still need liability insurance. Some claims will become product liability claims—some types of accident claims already are—but most accidents would still result from human error of various kinds. There isn’t going to be a huge change. The insurance business will continue in much the same way for most insurers and most consumers.
There’s one exception: self-driving cars, even in the early generation, will be nigh-impossible for street criminals to steal. Any self-driving car is almost certainly going to be traceable via its GPS system and have a “kill switch.” Protection against theft isn’t a huge part of auto insurance premiums in most places but, in the long term, self-driving cars seem likely to more-or-less eliminate an entire category of crime.
However, the kinds of fully self-driving cars that Google is now testing could represent a much bigger change. If a driver can’t manipulate a car in any way (except maybe to press a “stop” button) most crashes will probably result in product liability claims. Although such product-liability auto insurance could, in principle, be purchased as “master policies” by automakers, the mere fact that we have a longstanding cultural habit of buying auto insurance makes it quite possible that consumers will still buy polices. And, most likely, automakers as well as some insurance and consumer groups will argue for offering these policies on a no-fault basis. This, in turn, could lead to a real resurgence in no-fault coverage that’s fading elsewhere.
Second, under a full-self-driving model a significant fraction of people may well move towards a fractional ownership or “car-sharing subscription” service. Car sharing, of course, is already reasonably widespread in dense urban areas but remains a niche market because it’s not economically efficient to use car-sharing to commute to work, go on a road-trip or, really, do much of anything besides run a brief errand. By contrast, a service that lets you summon cars without drivers to wherever you are and have them take you where you want to go could replace automobiles for many people. One would think these services would probably bundle in some sort of policy in just the same way that existing car-sharing services do.
The near future of self-driving cars probably isn’t a big deal for insurers. The more distant future of fully autonomous cars, however, may well result in big, big changes.
When and whether a vehicle involved in a collision is considered to be “totaled” for first-party insurance purposes is an issue of great angst and confusion for most consumers. Over the years we’ve certainly experienced older, functioning automobiles being “totaled” simply because the frame is bent or other seemingly minor and hidden damage occurs. Even insurance professionals can get turned around navigating the maze of rules and state regulations regarding the act of “totaling” a vehicle under a policy. But it needn’t be all that complicated. This article will hopefully help take the guess-work out of when a car can be “totaled.”
Typically, cars are considered to be “totaled” when the cost to repair the vehicle is higher than the actual cash value (ACV) of the vehicle. Practically speaking, however, it is not always practical to repair a vehicle, even if the cost of repair is less than its actual cash value (ACV). A vehicle worth $4,000 requiring $3,000 in repairs might be considered “totaled” by an insurer even though the cost of repair is less than its value before the accident. Insurance companies will typically consider such a vehicle to be a total loss, even though the repairs are only 75 percent of actual cash value (ACV).
While the procedure varies slightly from state to state, the insurance company will typically take ownership of the totaled vehicle (known as “salvage”) and may obtain a “salvage title” for the vehicle. After it pays it’s insured the pre-loss ACV of the vehicle and forwards the certificate of ownership, the license plates and a required fee to the Department of Motor Vehicle (DMV), the DMV then issues a Salvage Certificate for the vehicle. In some cases, the vehicle is repaired, re-registered with the DMV, and then classified as a “revived salvage” or “salvaged” vehicle. Of course, if the insured wants to keep the “totaled” vehicle, the insurance company will deduct the value of the salvage from the claim payment.
The criteria for deciding when a car is a total loss and when it can be repaired vary from insurance company to insurance company and might even be dictated and controlled by state statute or regulation. Further complicating the issue is the fact that insurance companies do not all use the same sources for determining the value of a vehicle. Insurance professionals, on the other hand, have to be familiar with these rules, criteria, and thresholds in all the states they are licensed to do business in.
In determining whether a vehicle is totaled, insurance companies will calculate the total loss ratio (cost of repairs/actual cash value) and then compare this ratio to limits set either internally within the company and/or regulated and established by state law. It is also sometimes referred to simply as the damage ratio. Some states dictate how high this damage ratio needs to be in order to be able to declare a vehicle a “total loss” and be eligible for a salvage title or certificate. This is referred to as the Total Loss Threshold (TLT). In order to total a vehicle, the total loss ratio must exceed the established percentage. If the TLT is not dictated by the state, an insurance company will usually default to something known as the Total Loss Formula (TLF) which is:
Cost of Repair + Salvage Value > Actual Cash Value
If the sum of the first two quantities is greater than the ACV, the car can be declared a total loss. As an example, a damaged 2002 Toyota Echo with 185,000 miles in good condition has an ACV of approximately $2,800. Total repair costs are estimated at $2,000, for a damage ratio of 72 percent. This car would be considered a total loss in Arkansas, where the TLT is 70 percent, but not in Florida where the TLT is 80 percent. In Illinois, the TLF would be used and, if the salvage were worth $700, the car would not be totaled ($2,000 + $700 < $2,800). Of course, states utilizing the TLF rely on and defer to the judgment and opinions of licensed appraisers.
Understanding the layers of procedure behind declaring a vehicle a total loss isn’t always a prerequisite for successful subrogation. But there are occasions when the third-party tortfeasor and its liability carrier or attorney will question the amount of damages you are looking to subrogate. In such instances, a working knowledge of this area of insurance becomes indispensable.
Each of our history’s begin with mom. It’s certainly a great day to express our thoughts and feelings about the most important woman in our lives. But what’s the origin of the celebration?
Mother’s Day is celebrated in many countries, including the United States, the United Kingdom, Denmark, Finland, Italy, Turkey, Australia, Mexico, Canada, China, Japan and Belgium. The day is used by children and husbands to honor mothers and grandmothers for all that they do and have done in the lives of their children.
Some historians claim that Mother’s Day originates from ancient spring festivals dedicated to maternal goddesses. Greeks honored Rhea, wife of Cronus and mother of the gods and goddesses of Greek mythology. Ancient Romans had a spring festival dedicated to Cybele, also a mother goddess. Called Hilaria, this celebration lasted for three days and included parades, games and masquerades.
A more modern version of Mother’s Day began in the 1600s in England. “Mothering Sunday” was celebrated on the fourth Sunday of Lent. Small gifts were given, and a special dessert called a simnel cake was served.
In the United States, Mother’s Day was first suggested in 1872 by Julia Ward Howe (famous for writing the words to the “Battle Hymn of the Republic”). But it was a woman who was never a mother herself who led the campaign for national recognition of Mother’s Day.
Anna Jarvis held a ceremony in 1907 in Grafton, West Virginia, to honor her mother, who had died two years earlier. Jarvis’ mother had tried to establish Mother’s Friendship Days as a way of dealing with the aftermath of the Civil War. Anna Jarvis began a campaign to create a national holiday honoring mothers. She and her supporters wrote to ministers, businessmen and politicians, and they were successful in their efforts.
In 1910, West Virginia became the first state to recognize the new holiday, and the nation followed in 1914 when President Wilson declared the second Sunday in May to be Mother’s Day. Jarvis used white carnations as a symbol for mothers, because carnations represented sweetness, purity and the endurance of a mother’s love. (Today, white carnations represent a mother who has passed, while red carnations represent a living mother.)
Unfortunately, over time Jarvis became bitter about the commercialization of the holiday. She filed a lawsuit to stop a 1923 Mother’s Day event and was even arrested for disturbing the peace at a mother’s convention where white carnations were being sold. Jarvis never married and never had children. She died in 1948.
Mother’s Day continues to be a very commercial holiday in the United States but for good reason. Flowers, candy and cards are some of the typical gifts of expression, and phone traffic is especially high on the second Sunday in May as millions upon millions call their mom and send them their love.
My mother had a great deal of trouble with me, but I think she enjoyed it. – Mark Twain (1835 – 1910)
Playground Inspection and Safety Tips
At this time of year, it is common to find children eager for the warmer weather and the ability to enjoy your playground. Whether you’re an organization, business, church or homeowner, as we get closer to spring it’s a good idea to begin thinking about inspecting your playground equipment to ensure the safety of the children who will play on it. Additionally, adequate playground supervision is another item to reflect on.
Playground Inspection and Maintenance
There are numerous things to consider when inspecting your playgrounds. Consider the following when working to keep your playground up to par:
- Create a maintenance schedule for an easy way to organize your playground inspections.
- Perform regular inspections on equipment, such as playground corners or edges, protective caps, equipment anchors, handrails, guardrails, protective barriers, steps, rungs or ladders.
- Make sure surfaces around playground equipment have adequate shock absorbing material installed or are deeply mulched.
- Always check your playground for broken glass or other debris that could be dangerous. To reduce the likelihood of finding such items, conveniently locate and maintain trash receptacles on the playground.
- To prevent children from tripping while at play, correct or remove any hazards, such as exposed concrete footings, tree stumps and rocks.
- Repair any areas that have inadequate drainage or low spots that would allow standing water.
Even with regular inspection and maintenance, the supervision on playgrounds also is crucial to children’s safety. It is important that all supervisors have an understanding of the basics of playground safety, and are given proper instruction. Here are a few basics supervisors should be informed about:
- The types of playground equipment provided;
- The hazards associated with the different types of playground equipment;
- Age-appropriateness of playground equipment;
- First aid;
- Strangulation or entrapment hazards for children on the playground; and
- Procedures regarding how to handle emergencies.
Providing adequate care for children is an important aspect of all our lives. With spring fast approaching, ensure your playgrounds are safe to use by inspecting all of your equipment and training your supervisors if you’re part of an organization.
When shopping for a new home, some of the same features that lure you in could end up costing you extra in insurance premiums.
If you’re like the many buyers who wait until after going into contract to get insurance quotes on a property, you could be faced with some serious sticker shock. Check out these five seemingly desirable home features that might end up costing you more than you realize in the long run:
1. Swimming pools
Because of both the high rate of drowning and the severity of water-related injuries, insurance companies consider swimming pools one of their biggest liabilities. Consider the possibility of a neighborhood kid accidentally falling into your pool and sustaining an injury. You could be held liable for the high cost of their hospital bills, and if they choose to sue, you could also rack up considerable lawyer fees and other court expenses.
Most standard homeowners insurance policies include a minimum liability coverage limit of $100,000 in order to help protect you financially in the event of such a lawsuit. However, if your home includes a swimming pool, the Insurance Information Institute recommends increasing your limit to at least $300,000 or even investing in an umbrella policy to increase your liability coverage.
Your insurer will also likely require you to build and maintain a self-locking fence around the pool to keep others – especially children – out. Additionally, if the pool itself is expensive, you may need to increase coverage limits on your policy in the event it’s damaged by a storm or other covered peril.
Nearly 100,000 trampoline-related incidents are reported every year, according to a survey by the US Consumer Product Safety Commission’s National Electronic Injury Surveillance System. While the kids may love it, a new trampoline almost certainly won’t play well with your insurance company. Depending on your state and your specific carrier, trampoline-related claims may be excluded from your policy. That means if someone is injured on a trampoline on your property and decides to sue, you might be paying the legal costs out of your own pocket.
Even if there are no specific exclusions from your carrier or in your state, it’s still important to notify your agent any time you introduce a “high-risk” item – such as a trampoline, tree house or a swimming pool – to your property to make sure you’ll be properly covered in the event of an accident.
3. Water view
The value of a waterfront property can be substantially higher than comparable inland properties, whether you live by an ocean, lake, river or some other body of water. However, a beautiful water view often comes with a higher risk for flooding and therefore more extensive insurance coverage.
Although most standard homeowners and renters insurance policies include coverage against water damage, they exclude any damage resulting from flood/rising water. For that reason, most residents who live in high-risk flood zones with a water view typically need to invest in separate flood policies in order to protect their properties from the elements. If you have a mortgage on your home, a flood insurance policy will likely be required by your lender. You can check the flood risk of any property by visiting the official site of the National Flood Insurance Program.
4. Vintage charm
Some older homes have maintained original features for decades or even longer, and discovering a well-preserved historical property can be a real estate dream come true. Unfortunately, if key features such as the home’s plumbing system, electrical system or the roof haven’t been updated since poodle skirts were in style, it’s likely an insurance nightmare.
If your electrical system hasn’t been updated in more than 10 years, it’s more likely to malfunction and contribute to a damaging fire than one that’s brand new. Similarly, out-of-date plumbing systems could lead to devastating water damage and an older roof is more susceptible to storm damage and other costly damages. With the combined average cost of claims topping $40,000 for these perils, according to the Insurance Information Institute, it’s not surprising insurance carriers charge more to insure these properties.
5. Square footage
Bigger is not always better. The larger your home, the more it will likely cost to replace if it’s ever damaged or destroyed in a covered peril. That means you’ll require a higher amount of dwelling coverage, which is the coverage provided under your homeowners policy to rebuild the structural elements of your home in the event of a claim.
To get a rough idea of how much dwelling coverage you’d need to completely rebuild your home from the ground up after a total loss, insurance companies multiply the total square footage of the property by local construction costs. Keep in mind, building with more expensive construction materials will impact your coverage needs, so upgrades such as granite countertops also should be reported to your insurance company.
Of course, none of this should dissuade you from buying a waterfront home or installing a swimming pool. Just be sure you enter into the home buying experience with some knowledge about which types of homes carry higher risk — and therefore larger insurance price tags — than others.
With winter weather affecting us all in our attempts to remain comfortable, it’s also the time of year which presents the greatest risk for an invisible threat.
Carbon monoxide is an odorless, colorless, invisible gas that results when certain fuels do not burn completely. And it can be deadly. That’s why it’s important to know how to prevent it, detect it, and protect yourself and your family from its effects.
In the home, carbon monoxide is most commonly formed by flames and heaters, as well as vehicles or generators that are running in an attached garage. As temperatures drop and more people are cranking the heat and hovering over the stove inside and warming up the car’s engine before hitting the road, it’s especially critical to ensure your family’s safety against this lethal gas.
Since carbon monoxide cannot be detected without a carbon monoxide detection device, it is essential to install and maintain one or more detectors in your home.
Detector Tips For Safeguarding Your Household
- The International Association of Fire Chiefs recommends a carbon monoxide detector on every floor of your home, including the basement. A detector should be located within 10 feet of each bedroom door, and there should be one near or over any attached garage.
- Each detector should be replaced every five to six years.
- Battery-only carbon monoxide detectors tend to go through batteries more frequently than expected. Plug-in detectors with a battery backup (for use if power is interrupted) provide less battery-changing maintenance.
- Thoroughly read the installation manual that comes with the individual detector you purchase. Manufacturers’ recommendations differ to a certain degree based on research conducted with detectors for specific brands.
- Remember that carbon monoxide detectors do not serve as smoke detectors and vice versa. You can, however, purchase a dual smoke/carbon monoxide detector that can perform both functions.
- Do not install carbon monoxide detectors next to fuel-burning appliances, as these appliances may emit a small amount of carbon monoxide upon startup.
In Case Of Exposure
We hope you never have to use the following tips from the Mayo Clinic, but please read on for good information that could help save a life.
If you suspect that you or someone you know has been exposed to carbon monoxide, check for the following symptoms:
- Dull Headache
- Shortness of Breath
- Loss of Consciousness
If any of the symptoms exist, move the individual into fresh air and seek emergency medical care immediately.
Do you have a mortgage? Yes? Then at some point in your home-owning life, you have received a letter telling you that your mortgage has been sold to another lender. There’s certainly nothing unusual about it when this happens, as home loans are sold every day in the United States. It is a very common practice. Typically, the letter tells you that nothing will change for you and – "you do not need to do anything."
Here’s Why: If your home insurance is part of your escrow then your agent needs to know and needs to change the Mortgagee endorsement on your policy.
Every year your insurance company sends a bill to the company that owns your loan. Your lender sends a check from your escrow account to pay for your Homeowner’s insurance for the next year. If your insurance company does not have the correct lender information the bill will be sent to the wrong company and the bill will not be paid. Believe it or not – that is not the big problem.
Here is the BIG PROBLEM. Your new lender wants to know you have insurance that will pay to replace your home in case of a total loss – they want to know they will get their money! If your new lender does not get a bill or see some form of proof that you have insurance – then the lender will put insurance in place for you. And guess what? The insurance the bank puts in place can cost up to THREE TIMES MORE than what you are paying now and that is just for your house and wouldn’t include insurance for all your belongings inside your home.
If this occurs the lender is simply going to pass the high-cost of this other insurance along to the home owner in the form of a much higher mortgage payment on your next statement, which can cause unnecessary panic and confusion.
The lesson – keep your Insurance Agent updated on any change regarding not only your home, but your lender as well. Your agent wants to be up to date and will appreciate the call and it’s a simple change that only requires a few moments to complete.
This time of year can be just great here in Mississippi. However, you won’t get much fireside snuggling done if your chimney clogs or your roof springs a leak. And while prepping your home for winter weather isn’t much fun, once you do it, your peace of mind can last all season long.
Here’s a handy checklist to make sure the weather stays outside where it ought to be.
If you have a forced-air furnace, visually inspect the outside of your system, the ducts, and other points attached to the unit. Repairing potential air leaks is easy to do with a little duct tape. It’s also a great time to clean or replace the filter according to the manufacturer’s instructions. If you can reach them, vacuum off the blower blades while you’re in there.
Winter Weather Stripping
A common source of heat loss and drafty spaces is faulty door or window weather-stripping. Check for drafts by holding a lit candle a couple of inches from the seam. If the flame moves (and you’re sure it’s not the dog breathing over your shoulder) you could have a leak. Typically these are easier to replace entirely than “spot repairing” and kits for doing so may be found at any hardware store.
Chim Chim Cher-ee
Creosote is the black, scaly deposit left behind in wood-burning chimneys. It slows airflow and is an enormous fire hazard. While the chimney is cool, take a flashlight and look for build-up past the damper (at the mouth of the flue near the base of the chimney). If you burn a lot of wood during the season–or very resinous wood like pine–cleaning the chimney is an annual must-do. This is one repair where hiring qualified professionals is best because they have the proper tools and experience to make sure it’s done right.
Stormin’ the Doors
Operational storm doors and windows prevent additional drafts and save energy costs. Make sure the hinges are lubricated and adjusted so they close properly. If you have interchangeable glass panels, make sure to install them instead of leaving the screens over winter.
Rain Gutter Braining
Clean gutters help prevent many cold weather problems from arising, such as basement flooding, siding damage, and door and window leaks. Clean gutters also help keep your foundation dry and repair-free. Plus, if your gutters are holding too much water they can pull free of eaves and fall off at any time, posing a hazard to your noggin.
Show Your Best Siding
In some cases you’ll need to hire a professional to make siding (or paint) repairs, but you can easily inspect for cracks and separations, peeling paint, or other damage that’s not difficult to repair yourself. Usually, a little caulk and some paint do the trick. But don’t leave it to chance–or leave it too long–because when water gets behind siding it’s expensive to repair as well as a health hazard.
Put a Lid On It
If possible, check your roof close up. You can use binoculars to inspect safely from the ground. Look for missing tiles, cracked shingles, and “bald spots”. If you have a composition roof past its warranty, make sure to check for brittleness, a sure sign it needs replacing. Also, if you notice lots of asphalt granules in your newly spotless rain gutters, it’s a sign your roof is eroding and needs replacing soon. Lastly, make sure to check the flashing around the edges of the roof for damage.
Taking just a few minutes this time of year to inspect your home for these common cold weather entry points and it will prevent more costly repairs, reward you with a lower energy bill, and help you have a relaxing holiday season.
Remember piling into your family’s sedan as a kid? Maybe you fought for space in the way back of the family station wagon. Back in the day, there weren’t many choices for family vehicles. Nowadays, there’s a plethora of options to choose from. From minivans to wagons, crossovers to SUVs and more, today’s modern family can select from vehicles of all different shapes and sizes.
To help with the decision process, Kelly Blue Book (KBB) compiled a list of the Top 10 Family Cars for 2011. The criteria KBB used in determining the top picks included safety, comfort, economy of operation, child-friendliness, a reasonable purchase price and good resale value tops among others. Here are the picks of Top Family Cars for 2011, from largest to smallest.
Jeep Grand Cherokee
Which one would you choose? No matter what vehicle you drive, be sure that your family is protected with the right auto insurance.
TRYING TO SAVE MONEY? AVOID THE FIVE BIGGEST INSURANCE MISTAKES.
With far too many Americans out of work, and others forced to make ends meet with less money, many people are looking for ways to cut costs. There are smart ways to save on home and auto insurance; however, there are also mistakes that can result in being significantly underinsured.
When money is tight, it is extremely important to be financially protected against a catastrophe with the right amount and type of insurance by taking a few simple steps, it is possible to cut costs and still be protected should disaster strike.
Following are five of the biggest insurance mistakes that consumers should look out for:
Insuring a home for its real estate value rather than for the cost of rebuilding. When real estate prices go down, some homeowners may think they can reduce the amount of insurance on their home. But insurance is designed to cover the cost of rebuilding, not the sales price of the home. You should make sure that you have enough coverage to completely rebuild your home and replace your belongings.
A better way to save: Raise your deductible. An increase from $500 to $1,000 could save up to 25 percent on your premium payments.
Selecting an insurance company by price alone. It is important to choose a company with competitive prices, but also one that is financially sound and provides good customer service.
A better way to save: Check the financial health of a company with independent rating agencies and ask friends and family for recommendations. You should select an insurance company that will respond to your needs and handle claims fairly and efficiently.
Dropping flood insurance. Damage from flooding is not covered under standard homeowners and renters insurance policies. Coverage is available from the National Flood Insurance Program (NFIP), as well as from some private insurance companies. Many homeowners are unaware they are at risk for flooding, but in fact 25 percent of all flood losses occur in low risk areas.
A better way to save: Before purchasing a home, check with the NFIP to check whether it is in a flood zone; if so, consider a less risky area. If you are already living in a flood zone area, look at mitigation efforts that can reduce your risk of flood damage and consider purchasing flood insurance.
Only purchasing the legally required amount of liability for your car. In today’s litigious society, buying only the minimum amount of liability means you are likely to pay more out-of-pocket—and those costs may be steep
A better way to save: Consider dropping collision and/or comprehensive coverage on older cars worth less than $1,000. The insurance industry and consumer groups generally recommend a minimum of $100,000 of bodily injury protection per person and $300,000 per accident.
If you don’t own your home, neglecting to buy renters insurance. A renters policy covers your possessions and additional living expenses if you have to move out due to a disaster. Equally important, it provides liability protection in the event someone is injured in your home and decides to sue.
A better way to save: Look into multi-policy discounts. Buying several policies with the same insurer will generally provide surmountable savings.