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.
Wednesday, June 24, 2015
Boat - Insurance Assurance
Reposted article written by Joe Friedman for Boating Magazine - October 2014
Insurance Assurance
While it may sound like the same thing, buying boat insurance is an entirely different animal from buying car insurance or a homeowner's policy. Here's the lowdown on properly insuring your boat.
THERE ARE ONLY TWO ways you can be sure you are getting the best insurance policy for your boat: Pick the best underwriter and pick a knowledgeable agent. It's just that simple. Most important, do not let price enter into the search. At the end of the day, the extra bucks don't mean a thing when your boat hits a rock.
For example, I know of a very well-heeled guy whose four-year-old $81,000 boat was continually serviced and pampered by a first-class yard. Money was never an object. Circumstances developed in which the boat was wrecked, not due to anything he did wrong. His insurance company, a well-known underwriter, refused to pay off saying it wasn't properly maintained. It took him a year of persistent pestering, cajoling and threatening before it finally paid him the policy's "agreed value" plus an additional $3,000 for accumulated expenses.
Another guy made the unfortunate mistake of assuming that a longtime friend who handled his home and auto policies could also write a policy for his boat. Wrong. The policy as written did not take into account one of the basic caveats of marine insurance "agreed value" as opposed to "actual cash value". To his dismay and surprise, when his $100,000 boat sank, the company offered him $68,000 because that was the value at the time of the incident. When choosing an agent for marine insurance, that person should have familiarity with boats as a bare minimum and, more important, represent a recognized, well respected marine insurer.
How do you effectively find the right underwriter and agent? Between the yacht club/marina bar, the boatyard and the internet, you should be able to come up with the right combination. Ask the guy who handles your personal policies (health, auto, business) if he has experience with boats or if he knows someone who does. Chat up the owner/manager at your yard and find out which company pays the best with the least hassles. Visit as many online forums as possible and she what people are saying - good or bad - about a broker, agent or underwriter. Post your own inquiry on a forum that seems to be on the right page - not one with guys trying to be funny or letting off uncontrolled steam. The information is out there, and it's up to you to do your homework.
Here are some of the things you should be looking for when purchasing a policy. If you plan to leave your "home" cruising grounds, be sure you're covered. This is especially true if you plan foreign cruising to the Caribbean, Canada or Mexico. You might need an endorsement. Look for an arbitration clause under the claim settlement section. It's your guarantee that, when you get into a difference of opinion, you'll have a third party to help make a fair call. See what the deductible is and if it varies depending on the claim issue, like hurricane coverage. Understand what salvage is and how it affects your claim.
Your boat is probably the second-largest investment you'll ever make. Take time to explore and understand your insurance options, and remember, price should not e the issue.
Does everyone need insurance? Yes....and no. At some point, insuring a boat is just a waste of money. As the value of the craft approaches the cost of the annual premium, it's time to re-evaluate. Even so, you should never be without adequate liability insurance. Accidents to happen, and you could be in a situation in which someone is seriously hurt or you caused major damage to another boat or facility. A minim coverage of $500,000 is recommended, and based on your individual situation, it could be considerably higher. We live in a litigious society, and your agent should be able to suggest meaningful coverage to keep you protected in case of an accident.
Boating Magazine.com October 2014
As the article states... buy your boat insurance from someone who knows boats and has a good understanding of the special coverage available for watercraft. While boat insurance is offered by many insurance companies, not all policies are the same. Choose one who has a marine division so your claim isn't being handled by the same adjuster who also works on home or auto claims.
Tom Ditzel
Lawley Genesee
Foremost Marine Insurance Specialist
585-344-9505
800-807-1055 Ext 6505
tditzel@lawleyinsurance.com
Insurance Assurance
While it may sound like the same thing, buying boat insurance is an entirely different animal from buying car insurance or a homeowner's policy. Here's the lowdown on properly insuring your boat.
THERE ARE ONLY TWO ways you can be sure you are getting the best insurance policy for your boat: Pick the best underwriter and pick a knowledgeable agent. It's just that simple. Most important, do not let price enter into the search. At the end of the day, the extra bucks don't mean a thing when your boat hits a rock.
For example, I know of a very well-heeled guy whose four-year-old $81,000 boat was continually serviced and pampered by a first-class yard. Money was never an object. Circumstances developed in which the boat was wrecked, not due to anything he did wrong. His insurance company, a well-known underwriter, refused to pay off saying it wasn't properly maintained. It took him a year of persistent pestering, cajoling and threatening before it finally paid him the policy's "agreed value" plus an additional $3,000 for accumulated expenses.
Another guy made the unfortunate mistake of assuming that a longtime friend who handled his home and auto policies could also write a policy for his boat. Wrong. The policy as written did not take into account one of the basic caveats of marine insurance "agreed value" as opposed to "actual cash value". To his dismay and surprise, when his $100,000 boat sank, the company offered him $68,000 because that was the value at the time of the incident. When choosing an agent for marine insurance, that person should have familiarity with boats as a bare minimum and, more important, represent a recognized, well respected marine insurer.
How do you effectively find the right underwriter and agent? Between the yacht club/marina bar, the boatyard and the internet, you should be able to come up with the right combination. Ask the guy who handles your personal policies (health, auto, business) if he has experience with boats or if he knows someone who does. Chat up the owner/manager at your yard and find out which company pays the best with the least hassles. Visit as many online forums as possible and she what people are saying - good or bad - about a broker, agent or underwriter. Post your own inquiry on a forum that seems to be on the right page - not one with guys trying to be funny or letting off uncontrolled steam. The information is out there, and it's up to you to do your homework.
Here are some of the things you should be looking for when purchasing a policy. If you plan to leave your "home" cruising grounds, be sure you're covered. This is especially true if you plan foreign cruising to the Caribbean, Canada or Mexico. You might need an endorsement. Look for an arbitration clause under the claim settlement section. It's your guarantee that, when you get into a difference of opinion, you'll have a third party to help make a fair call. See what the deductible is and if it varies depending on the claim issue, like hurricane coverage. Understand what salvage is and how it affects your claim.
Your boat is probably the second-largest investment you'll ever make. Take time to explore and understand your insurance options, and remember, price should not e the issue.
Does everyone need insurance? Yes....and no. At some point, insuring a boat is just a waste of money. As the value of the craft approaches the cost of the annual premium, it's time to re-evaluate. Even so, you should never be without adequate liability insurance. Accidents to happen, and you could be in a situation in which someone is seriously hurt or you caused major damage to another boat or facility. A minim coverage of $500,000 is recommended, and based on your individual situation, it could be considerably higher. We live in a litigious society, and your agent should be able to suggest meaningful coverage to keep you protected in case of an accident.
Boating Magazine.com October 2014
As the article states... buy your boat insurance from someone who knows boats and has a good understanding of the special coverage available for watercraft. While boat insurance is offered by many insurance companies, not all policies are the same. Choose one who has a marine division so your claim isn't being handled by the same adjuster who also works on home or auto claims.
Tom Ditzel
Lawley Genesee
Foremost Marine Insurance Specialist
585-344-9505
800-807-1055 Ext 6505
tditzel@lawleyinsurance.com
Wednesday, August 13, 2014
Lawley Genesee Insurance partners with Nationwide AgriBusiness
Lawley Genesee Insurance is proud to partner with Nationwide Agribusiness, the nation's number one farm insurer. We want to protect Rural America.
Reasons to Choose Nationwide Agribusiness
Friday, May 16, 2014
Eight Surprising Comprehensive Auto Insurance Perils
Even the most careful drivers occasionally get
into accidents -- that's why auto insurance was created. But your car can be
damaged even if you're not in a crash -- which is why there's comprehensive
auto insurance. Comprehensive is an optional coverage, and without it, you
might just be left holding the bag financially, according to the Insurance
Information Institute.
Simply put, comprehensive is coverage for events "other than collisions." And here are eight things that you might not realize are covered by your comprehensive auto insurance policy.
Simply put, comprehensive is coverage for events "other than collisions." And here are eight things that you might not realize are covered by your comprehensive auto insurance policy.
1. Earthquakes and
Floods
Homeowners insurance policies may exclude earthquakes and flood, but your comprehensive auto insurance is truly comprehensive when it comes to disasters. Hurricanes, tornadoes, volcano eruptions, earthquakes, and floods -- they're all covered.
2. Fire, Even When Caused by a Car Defect
Vehicle fires occur every 96 seconds in the United States, according to the National Fire Protection Association, and although non-crash fires are rare, some are caused by electrical problems or a defective fuel system. Indeed, nearly every major car company has recalled one of its vehicles due to a fire-related defect. A new study from the Highway Loss Data Institute shows that the claim frequency for vehicles with fire-related defects -- prior to a recall -- is 23 percent higher than for other vehicles.
3. Rodent Damage
A squirrel snuck into your garage and gnawed through your car's wiring system? Unlike homeowners insurance, which excludes damage caused by pests, your comprehensive auto policy may provide coverage; check your policy carefully to be sure.
4. Meteorites and Asteroids
Okay, there's a pretty slim chance your car will get hit by an asteroid, but it's not out of the realm of possibility, and if it happens, you would be covered by your comprehensive policy. More importantly, the coverage extends to almost any type of falling object, including hail, trees, and the neighbor's kid's baseball.
5. Riots
Unfortunately, every now and then, a victory celebration or peaceful protest can get out of hand and morph into a full-blown riot. If your car were to get caught in the middle, any damage resulting from the incident -- from being flipped or from such things as explosions, fire, and smoke -- would be covered. The same goes for acts of vandalism.
6. Deer, Birds, or Other Animal "Contact"
Watch out for that deer! An estimated 1.22 million deer-vehicle accidents occurred in the United States between July 1, 2012, and June 30, 2013. But deer aren't the only animals that can damage your car. Bears have a habit of breaking into cars around national parks, looking for food that visitors leave behind. Your trail-mix supply might be a goner, but with comprehensive auto insurance, you won't have to "bear" the damage alone.
7. Theft
According to the Federal Bureau of Investigation, more than $4.3 billion were lost to motor vehicle theft in 2012, and the average dollar loss per theft was $6,019. Nobody wants his or her car to be a crime statistic, but at least you would be covered if your car disappears in the night.
8. Broken Windshield
A cracked or shattered windshield is a fairly common occurrence. If a piece of gravel or other road debris suddenly puts a ding in your vehicle's windshield while you're driving, it can quickly spread and become a large and dangerous crack. In fact, in many states, it is illegal to drive with a cracked or broken windshield. Not only is such damage covered by your comprehensive policy, but also many companies offer the option of no-deductible coverage for glass damage specifically.
Check with your insurance professional to find the best auto coverage for your situation; in many cases, a policy that combines liability with comprehensive and collision coverage provides the full breadth of insurance coverage you need, especially on a newer car.
Homeowners insurance policies may exclude earthquakes and flood, but your comprehensive auto insurance is truly comprehensive when it comes to disasters. Hurricanes, tornadoes, volcano eruptions, earthquakes, and floods -- they're all covered.
2. Fire, Even When Caused by a Car Defect
Vehicle fires occur every 96 seconds in the United States, according to the National Fire Protection Association, and although non-crash fires are rare, some are caused by electrical problems or a defective fuel system. Indeed, nearly every major car company has recalled one of its vehicles due to a fire-related defect. A new study from the Highway Loss Data Institute shows that the claim frequency for vehicles with fire-related defects -- prior to a recall -- is 23 percent higher than for other vehicles.
3. Rodent Damage
A squirrel snuck into your garage and gnawed through your car's wiring system? Unlike homeowners insurance, which excludes damage caused by pests, your comprehensive auto policy may provide coverage; check your policy carefully to be sure.
4. Meteorites and Asteroids
Okay, there's a pretty slim chance your car will get hit by an asteroid, but it's not out of the realm of possibility, and if it happens, you would be covered by your comprehensive policy. More importantly, the coverage extends to almost any type of falling object, including hail, trees, and the neighbor's kid's baseball.
5. Riots
Unfortunately, every now and then, a victory celebration or peaceful protest can get out of hand and morph into a full-blown riot. If your car were to get caught in the middle, any damage resulting from the incident -- from being flipped or from such things as explosions, fire, and smoke -- would be covered. The same goes for acts of vandalism.
6. Deer, Birds, or Other Animal "Contact"
Watch out for that deer! An estimated 1.22 million deer-vehicle accidents occurred in the United States between July 1, 2012, and June 30, 2013. But deer aren't the only animals that can damage your car. Bears have a habit of breaking into cars around national parks, looking for food that visitors leave behind. Your trail-mix supply might be a goner, but with comprehensive auto insurance, you won't have to "bear" the damage alone.
7. Theft
According to the Federal Bureau of Investigation, more than $4.3 billion were lost to motor vehicle theft in 2012, and the average dollar loss per theft was $6,019. Nobody wants his or her car to be a crime statistic, but at least you would be covered if your car disappears in the night.
8. Broken Windshield
A cracked or shattered windshield is a fairly common occurrence. If a piece of gravel or other road debris suddenly puts a ding in your vehicle's windshield while you're driving, it can quickly spread and become a large and dangerous crack. In fact, in many states, it is illegal to drive with a cracked or broken windshield. Not only is such damage covered by your comprehensive policy, but also many companies offer the option of no-deductible coverage for glass damage specifically.
Check with your insurance professional to find the best auto coverage for your situation; in many cases, a policy that combines liability with comprehensive and collision coverage provides the full breadth of insurance coverage you need, especially on a newer car.
Copyright © 2014 International Risk Management
Institute, Inc. (IRMI). All rights reserved.
Monday, March 17, 2014
Why You Need Uninsured Motorists Coverage
With all the different factors that
enter into the automobile insurance purchasing process, it is important for you
to be well informed in order to make intelligent decisions. One such decision
concerns whether to purchase uninsured motorists (UM) and underinsured
motorists (UIM) coverage.
UM coverage provides insurance
protection for bodily injury, and in some states property damage, caused by a
motorist who is not insured. This coverage allows you to collect from your own
insurance company as if it provided liability coverage for the negligent and
uninsured driver. In contrast, UIM coverage provides insurance protection for
bodily injury, and in some states property damage, sustained by you when a
motorist who has liability insurance (but is still not sufficiently insured)
negligently causes an accident. The following list provides reasons why you
should procure UM/UIM coverage.
§
The
chance of a negligent uninsured motorist hitting you is greater than you might
think. In some states, up to 26 percent of all drivers lack automobile
insurance. The countrywide average is 14 percent.
§
UM
and UIM coverage is broad, since it provides benefits for you and your family
members' injuries sustained (a) in your own covered auto, (b) in autos you do
not own, and (c) as pedestrians.
§
The
cost for this coverage is very reasonable, compared to liability coverage and
physical damage coverage for your own car. The increased costs for higher
UM/UIM limits are quite affordable for most people.
§
If
your car is damaged by an uninsured driver, the deductible for UM property
damage, if available in your state, is normally only $250. This amount is often
considerably less than your collision coverage
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