|Posted on September 18, 2013 at 11:10 AM||comments (36)|
Identity theft, credit card theft, What's yours is mine... And Now Facebook theft? Crazy.
I heard people were stealing your image on facebook and creating thier own page and asking your friends to friend them, but until it just happened to a friend of mine, I thought it was just another urbun legend scare.
I also never thought identity theft ,credit card theft etc would happen to me. Well it has and not just once either.
My credits cards have been used at least three times, twice the credit card company caught it and once I had to catch it on my own.
My checking account was also stolen, the bank teller was alert and I am grateful for that. I had to cancel everything and start new accounts but my money was secure.
I also had IDENTITY FRAUD PROTECTION on my homeowners policy.
Did you know this was available?
It is and it is also not expensive.
You can also purchase this coverage on the open market but not as inexpensively or as easily as you can from your homeowners agent.
Give me a call, I would be happy to help protect you as comprehensively as possible.
|Posted on September 10, 2013 at 7:46 AM||comments (29)|
Need some Work done on your Home?
Make sure your contractor is insured!
Yes that's correct, you have the right, when hiring a contractor to do work on your home or business to ask for a current certificate of liability and work comp insurance.
If a contractor, or their employees, while performing work on your home is injured, you can be held liable and your homeowners or businessowners policy will respond to this injury.
Checking to see that they are insured, will NOT absolve ALL liability, but the first responding policy will be the contractors own insurance policy.
Furthermore, if the contractor, while working, or as a result of thier work, causes damage to your home, thier liability insurance will cover you for that loss.
Homeowner policies are rated for paid claims, and we all understand accidents, weather, fire and crimes can happen, and that is why we purchase good insurance policies for our homes and valuables. We don't want that policy to pay, though, because we didn't make sure we hired the right contractor.
So, keeping your home safe and beautiful is something we all desire to do, let's make sure we check all the boxes, ask friends for referrals, check the Better Business Bureau or what ever you do to feel you hired the right people and add " Insured and Bonded " to our list.
|Posted on September 9, 2013 at 10:09 AM||comments (56)|
School Dropoff ? You may not be covered!
Taking my grandson to school this morning I saw a van pull up with a logo that said they were a school shuttle service.
Nice service for busy or working parents.
With charter schools and school of choice programs, I am sure this is a growing market.
The Insurance Agent in me, thought nice, I wonder if they are insured properly?
What do I mean? Well many times I find that you either did not tell your agent, the many uses of your vehicles or maybe they didn't ask on know how to advise you.
There are many ways a vehicle can be considered Commercial Use, and carpooling, school drop off (besides your own children) are among them.
If there is any compensation, even $5 for gas, for taking other peoples children to school, or delivering passengers in any way, (referred to in Insurance as Public Livery), your vehcile liability policy can be void and a claim denied.
Not just the damage to your vehicle, which can be replaced, you could be personally liabile for those children and thier injuries.
You got the kids to school and then stopped at the grocery store, a fender bender in the parking lot and Mrs. Smith in the other car has whiplash. That claim can be denied. Your claims adjuster will ask you how you use your vehicle, and when there is any Commercial use, they may decide you were insured improperly.
Even something as simple as newspaper delivery, part time, can jeopardize your personal auto policy coverages.
Make sure you talk to your agent, don't settle for a quick auto quote that only promises to save you money.
You aren't saving money by buying the wrong policy.
|Posted on September 5, 2013 at 5:30 PM||comments (82)|
Does Your Back Hurt?
You were involved in a "fender bender" today and you are feeling uncomfortable. Your back hurts a bit and you have a headache.
It will go away Right?
I certainly hope that it's just the stress of the accident and you will be fine in the morning. In the meantime, some things you should do;
1. Include your suspected injury on the police report.
no time to be tough, this can get serious
2.Report your injury to your Insurance Company
even if you do not plan to make a claim for you car, you should report any claim where someone has might, or even just might be injured protect yourself.
3.See a doctor . Don't wait till it gets worse.
There are many benefits in your Michigan Insurance Policy, so cost of care should not be a concern. You might want to review your policy for a PIP (personal injury protection) deductible so you can be ready if you have taken on any of the financial responsibility. (Not to worry the highest offered is $500).
And, always if you have any questions, talk to your agent right away.
|Posted on September 5, 2013 at 8:21 AM||comments (34)|
A Quote in the Mail
Many of us (I did!) have received homeowners quotes in the mail that look "to good to be true".
If that quote is based on the Market Value or Purchase Price of your home, the better expression would be "Buyer Beware".
Why do you need to purchase Replacement Cost or Reconstruction Cost on your dwelling?
Let's take a look and see.
The cost to buy a home is different than the cost to rebuild. So you can’t rely on your home’s market value to set your insurance limits. An appropriate amount of insurance coverage will permit you to rebuild your home in the event of a loss. That replacement value depends on the physical characteristics of your home, as well as the price of labor and materials in your area.
It also includes the cost to remove the damage property or the repair the damaged portion to it's original state when you have a partial loss. Demolition, debris removal, code compliance and other fees also add to reconstruction expense.
Time is also a factor in reconstruction as you would like to get back into your home as soon as possible.
This is substantially higher than new construction, and since market values change with the economy, the are you live in, school choices and many other factors, this amount will not be accurate.
I'm just concerned with paying off my mortgage.
A policy based on your mortgage only works for a total loss, and sometimes not even then.
You see if you policy is a "market value", and "actual cash value" or a "repair cost policy", a partial loss will be depreciated and only a portion will be paid.
My policy Reads Replacement Cost
There is a co-insurance clause in your policy, generally 80%. This means that you (the insured) have agreed that the amount your insuring for is at least, 80%, of the cost to rebuild.
If this is not true at the time of a claim, a co-insurance penalty is applied to the loss. This penalty acts like a deductible in the fact that YOU are responsible for that portion.
So there are many things to consider when you and your agent determine the amount of insurance you need for your home. For many of us, this is our largest investment, and our family home, we want to protect it properly.
Make sure your conversations with your agent are informative,
and don't fall for the "quote in the mail" .
|Posted on September 4, 2013 at 5:12 PM||comments (31)|
Actual Cash Value
Actual cash value is the replacement cost of repairing or replacing an item, minus depreciation and/or wear and tear.
Let's say your refrigerator is 7 years old .The average life expectancy is 14 years old,(sourcehttp://www.mrappliance.com/expert/life-guide/)
So your refrigerator has depreciated at least 50% (often more).
If you had a claim on that appliance it could go like this;
Side by side refrigerator with ice maker cost new $ 1,500.00
Less Depreciation - $750.00
Less Deductible - $1000.00
Equals no claim
Replacement cost is the amount of money it would cost to replace a damaged item with a new one at the time of the claim.
Side by side refrigerator with ice maker cost new $1,500.00
Less Deductible - $1,000.00
Claim Payment $ 500
Of course should you have a kitchen fire,(and I hope you do not), more items would be damaged, including damage to your home.
Which brings up a good point, what about Replacement Cost on my home?......
Stay tuned and find out.
|Posted on September 4, 2013 at 12:07 PM||comments (36)|
Why do I need higher limits of liability?
Isn't Michigan a "no fault" State?
It sure is, and it is the truest form of no fault and best coverage you can get!
But "no fault" protects you and your family if you are injured in an auto accident... or any accident involving a motor vehicle. Your work loss is covered up to 3 years and your medical bills, pertaining to the accident for life.
Your liability limts, on the other hand, protect you if you are sued by the other party.
If the other party has lifelong, or life changing injuries, regardless of who was at fault, they can sue you.
Yep, just for being there.
Your BI/PD limits are the amount you are covered for when this happens, they look like this 20/40(state minimum) 100/300 or as high as 250/500, these limits mean per person/peraccident.
So, if your liability limits are too low, you can lose your home, your life savings, your retirement, the kids or grandkids college fund, you name it!
Check your policy, did your agent advise you well?
Higher limts cost very little more per month, and it's money well spent.
An added note, if you current liability is low, you will get higher rates when you try to compare.
That's right! It's one of the number one rating factors in the industry.