After 40 years in the insurance business I find it frustrating to watch television only to be bombarded with insurance advertising.
GEICO says they can save you 15% in 15 minutes. Can they really? I just had a young lady come in with a GEICO policy asking me to look at her car insurance. Her present policy includes NYS minimum Liability limits of 25/50/10 along with the other state required minimums. Her 6 Month premium is $937, which brings her yearly cost to $1,873. I sold her a policy with Kemper that took her coverage up to 100/300/100, maximized other available coverage and did all this for a premium of $1,173. That's a 38% annual savings of $720!!
The other TV guys talk about First Accident Forgiveness like it's something new. Well, maybe it's new to them but we've offered it for 25 years.
The key today is dealing with an independent agent who has many companies to offer versus the direct writers who have just one company. The latest trend with insurance companies seems to be the bells and whistles they are offering with their new products. Not all are the same and some are better than others. I'd recommend talking to an experienced independent agent for help sorting it all out.
Check us out at http://www.lawleyinsurance.com/ or better yet, call me directly at 585-344-9505 or ask for me at 1-844-4LAWLEY. We are licensed to write in all 50 States.
Tom Ditzel
tditzel@lawleyinsurance.com
Wednesday, January 27, 2016
Tuesday, January 19, 2016
Fend Off Those Home Burglars
The Federal
Bureau of Investigation reports that there are over 2 million burglaries per
year in the United States Nearly two-thirds of these burglaries occur in
residences. Approximately 30 percent of all burglaries happen through an open
or unlocked window or door. A home burglary occurs every 13 seconds in America.
There are
numerous things a home owner can do to reduce his or her chance of being a
victim of this unfortunate crime, including the following.
·
Keep your windows and doors locked, since burglars obviously
prefer easy access.
·
Install heavy-duty exterior doors.
·
Safeguard doors with extra-long screws and high-quality door
locks.
·
Utilize a motion-sensing switch for your outdoor lights.
·
Trim your shrubs and bushes so that windows and doors can easily
be seen from the street.
·
Ask for a crime assessment inspection of your home from your
local police department. They are typically available free of charge.
·
Keep your garage door closed, even when you are inside your
residence.
·
Utilize a property identification marking system for your
valuable possessions.
·
Store small valuables, such as rare coins and expensive jewelry
(that you do not typically wear), in a safe deposit box at your bank.
Copyright 2016
International Risk Management Institute, Inc.
International Risk Management Institute, Inc.
Monday, January 18, 2016
Accident Forgivness, Newer Car Replacement - what does it all mean?
The TV ads are right, these are good things to look for in an insurance company. Some of these options have been around for years while others have been introduced more recently.
First Accident Forgiveness has been offered by a few insurance companies for many years. Some require you to be insured with the company for a number of years before the benefit kicks in while others allow you purchase the protection for a higher premium.
Newer Car Replacement is another nice benefit but this coverage comes in many shapes and sizes. Some will pay for a new model car but only if your car is totaled within the first year or two while one extends protection out to five years.
Disappearing Deductibles is another consumer friendly option. This basically means, that for each year you go with no accidents, your deductibles drop by a specified amount. Most specify the deductible will drop by $100 per year. Most companies offer this as a add-on benefit you will pay a premium for.
OEM Parts Guarantee pays the cost to replace damaged parts with Original Equipment parts versus the generally less expensive After Market Parts.
Pet Injury coverage will pay up to a stated amount, typically $500, for veterinary fees related to injuries and/or burial and disposal fees sustained by a dog or cat while riding in your car when it's involved with an accident .
Trip Protection coverage will reimburse expenses for food and lodging, travel expenses to get you home or to your destination, and the cost to return your car to your home if you are more than 100 miles from home and your car is damaged to the extent it can not be safely driven.
Accidental Airbag Deployment simply means you will be reimbursed the cost of reinstalling a factory installed airbag if it deploys for reasons other than a Collision or Other Than Collision loss.
Rental Reimbursement coverage reimburses the costs to rent a car if your car is damaged in a covered Collision or Other Than Collision loss. Typically this coverage can be purchased for a specified Daily Limit such as $20,$30, $40 or $50 subject to a total or maximum benefit limit. Some insurance companies have expanded on this to remove the daily limit and pay the higher cost for a "like kind and quality" car.
NOTE!!!
Rental Vehicle Coverage Endorsement (New York) is not to be confused with the above Rental Reimbursement coverage. The Rental Vehicle Coverage Endorsement is required on all Auto Polices written in the State of New York with fewer than five vehicles and covers the Insured's obligations for damage to a vehicle rented for less than 30 days. This coverage is required on all New York and the built into the base premiums.
These are a few of the most common coverage add-ons being offered today. Each insurance company has their own coverage forms and premiums can vary.
Tom Ditzel
585-344-9505
844-4LAWLEY
First Accident Forgiveness has been offered by a few insurance companies for many years. Some require you to be insured with the company for a number of years before the benefit kicks in while others allow you purchase the protection for a higher premium.
Newer Car Replacement is another nice benefit but this coverage comes in many shapes and sizes. Some will pay for a new model car but only if your car is totaled within the first year or two while one extends protection out to five years.
Disappearing Deductibles is another consumer friendly option. This basically means, that for each year you go with no accidents, your deductibles drop by a specified amount. Most specify the deductible will drop by $100 per year. Most companies offer this as a add-on benefit you will pay a premium for.
OEM Parts Guarantee pays the cost to replace damaged parts with Original Equipment parts versus the generally less expensive After Market Parts.
Pet Injury coverage will pay up to a stated amount, typically $500, for veterinary fees related to injuries and/or burial and disposal fees sustained by a dog or cat while riding in your car when it's involved with an accident .
Trip Protection coverage will reimburse expenses for food and lodging, travel expenses to get you home or to your destination, and the cost to return your car to your home if you are more than 100 miles from home and your car is damaged to the extent it can not be safely driven.
Accidental Airbag Deployment simply means you will be reimbursed the cost of reinstalling a factory installed airbag if it deploys for reasons other than a Collision or Other Than Collision loss.
Rental Reimbursement coverage reimburses the costs to rent a car if your car is damaged in a covered Collision or Other Than Collision loss. Typically this coverage can be purchased for a specified Daily Limit such as $20,$30, $40 or $50 subject to a total or maximum benefit limit. Some insurance companies have expanded on this to remove the daily limit and pay the higher cost for a "like kind and quality" car.
NOTE!!!
Rental Vehicle Coverage Endorsement (New York) is not to be confused with the above Rental Reimbursement coverage. The Rental Vehicle Coverage Endorsement is required on all Auto Polices written in the State of New York with fewer than five vehicles and covers the Insured's obligations for damage to a vehicle rented for less than 30 days. This coverage is required on all New York and the built into the base premiums.
These are a few of the most common coverage add-ons being offered today. Each insurance company has their own coverage forms and premiums can vary.
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