As we continue our articles on a new way to think about the insurance buying experience, we want to turn our attention to times when insurance may not be the right solution. Remember, we are interested in helping our clients find the right insurance or risk solution.

We will be the first to say that certain types of insurance may not always be best for your needs. We believe each client is unique and therefore requires unique insurance solutions. But there is more to the process.

First you and your agent need to talk about what your risks and goals are regarding the issues. Your agent should be able to help you identify all the risks and, only then, provide solutions.

Here is a good example

We recently had a client buy an older used car for one of their kids. After we reviewed the ACV value for the client, we recommended that he not purchase collision coverage. We told him to use the savings to put into an auto replacement fund. This will save the client hundreds of dollars over time.

Here are other kinds of insurance you may not need

1. Universal life – Typically term life insurance is going to be a better fit for you. Term life costs less, and you can take the premium difference and invest it yourself.
2. Extended warranty plans – These are never a good idea. The warranty premiums are mostly commissions paid to the salesperson. Some credit card companies offer this protection if you make the purchase with their cards.
3. Pet Insurance – Pet insurance usually is very limited in coverage and very costly.
4. Insurance on outstanding credit card balances – This type of insurance can be costly, and there are a lot of loopholes to go through before any benefits are paid.
5. Mini Storage Insurance – As long as you have homeowner’s or renters insurance you don’t need to buy special insurance. Most policies have automatic coverage for property away from your primary premises. Call us for details and limitations.
6. Rental car collision insurance – If you already have collision insurance from your personal auto insurance, you may not need to buy additional insurance from the rental company.  You will need to add any additional drivers, or you may have coverage gaps. Coverage only extends to the U.S. However, opting for the additional coverage could be worth the price if you don’t have collision insurance. But if you’re charging the rental to your credit card, it’s also possible to get the coverage through them. Rental cars in the US have coverage extended so people don’t assume that it will in other countries. Call us for more information
7. Mortgage life insurance – This protects the bank, not you. If you were to die, the payout goes to the bank, not your family. You are better off buying term life insurance.
8. Flight Insurance – This is completely unnecessary, as airline accidents are rare and your life insurance policy should already provide the coverage in the event of a catastrophe.

With over 30 years of experience in the industry, Brad Runnebaum and Jeff Hartman established PlatinumOne Insurance Agency in 2008. We have established relationships with some of the top carriers in the industry.

Auto Insurance

When it comes to purchasing auto insurance, having options can be a very important way to save money. Putting money back in your pocket is one of our primary goals.  We know and understand the auto insurance market.  This allows us to provide you with the best possible combination of pricing, coverage and service.

Auto insurance rates differ from company to company, so it really pays to have us shop your insurance. Some markets offer better rates for trucks, RV and campers, while others can offer better rates for motorcycles.

How to reduce your auto premium

There are many things you can do to keep your auto rates at the lowest level possible.

1. Review your deductibles. According to the Insurance Information Institute, raising your deductible from $200 to $500 could reduce your Collision and Comprehensive costs by 15 to 20 percent.
2. Encourage your student driver to get the best grades possible. Most major insurance companies offer a discount for students in good academic standing.
3. Select a safe car. Check out which cars are popular with thieves and avoid them. Also, the more expensive the car, the higher the premiums.
4. Be a safe driver. The more accidents and tickets you have, the higher the premiums will be.
5. Purchase a car with an alarm or LoJack. LoJack® Stolen Vehicle Recovery System provides car owners with peace of mind knowing that if their vehicle is stolen, they have the best chance of getting it back.
6. Be loyal. Many auto insurance companies offer loyalty discounts if you stay with them over time.
7. Check for other auto insurance discounts. These might include taking safe driver courses, senior discounts and more.

You might be able to pay less for your car insurance premium and not even know it. So it pays to connect with us to review your insurance needs. With over 30 years of experience in the industry, Brad Runnebaum and Jeff Hartman established PlatinumOne Insurance Agency in 2008. We have established relationships with some of the top carriers in the industry including Travelers, Nationwide, Encompass and many others.

Many of our clients may be in the process of hiring a contractor for a home repair or remodel. No matter what the job, it is important to make sure you protect your interests through the process. We want to provide you with some basic information that you should consider before you actually hire any contractor. Remember your homeowner’s insurance will not cover the liability from the contractor’s negligence.

While most home contractors out there are legitimate and complete quality work, there are some contractors who may not fulfill their promises. No matter how small the job, we always recommend you follow a few simple steps.

Contractor Hiring Tips

1. Get more than one bid. However, don’t necessarily jump at the lowest bid; our surveys have shown that people who hired the lowest bidder generally got poorer work.
2. Have an agreement in writing.
3. Check references. Always ask for, and check out, references of people who have used the contractor. If a contractor provides only email addresses for the references, request telephone numbers, too. For larger jobs you may even ask to view the contractors work.
4. Check the Better Business Bureau for filed complaints. Usually this can be done on line.
5. Confirm through the state that the contractor is licensed & insured. Ask for a certificate of insurance. Also request to be named additional insured on the contractor’s policy. The contractor should have the following coverage:
   1. General liability- $1,000,000 minimum
   2. Property damage
   3. Workers’ compensation
6. Ask for a firm quote. Some contractors will provide only an estimate; you want a FIRM QUOTE.
7. If you pay by check, write out the check to the contracting company rather than to an individual.
8. Make final payment only when the work is completed to your satisfaction. A reputable contractor will not threaten you or pressure you to sign documents if the job is not finished properly.
9. Any extra work needs to be put in writing with the costs.
10. Call our office, we may have references for you to consider.

How Your Homeowner’s Insurance Applies

Your homeowner’s insurance will not cover the negligent work of a contractor. If the contractor is injured on your property, your homeowner’s insurance will not apply, unless you are negligent somehow.

We are locally owned and operated out of Overland Park, Kansas and are strongly represented in all areas of the Kansas City metropolitan area including not only Kansas City, but also Olathe, Leawood, Lenexa & Shawnee.  We primarily write business in Johnson and Wyandotte Counties in Kansas but are licensed in the entire State.

Why You Need Auto Insurance

Ok, we all know driving can be dangerous, but here are the latest statistics from the auto insurance carriers.

• Motorcycle accidents have increased over the past five years.
• Auto fatalities are up 3.3%.
• Distracted drivers cause 1 in 4 accidents.
• Every day 1,000 people are injured by distracted drivers.
• 900 people a year die, and nearly 2,000 are injured, as a result of vehicles running red lights.
• Cell phone usage caused 21% of all fatal accidents.
• Medical costs have risen over 4% in the last year.
• The average auto liability claim for property damage was $3,073.
• The average auto liability claim for bodily injury was $14,653.

Auto Insurance

Your auto insurance program should have the following:

Auto Liability – Bodily Injury Liability Coverage pays for medical damages and funeral expenses for any people injured or killed in an accident for which you were responsible.

Auto Property Damage – Covers damage you do to a third party.

Auto Physical Damage — Covers comprehensive and collision. Collision is designed to get your car repaired if you hit an object. Comprehensive Coverage covers your vehicle in the event of damage or loss from something other than a collision. This includes theft, vandalism, nature, animals.

Uninsured Motorist – This insurance pays in the event you are hit and injured by an uninsured motorist. Even though auto insurance is required, one in four drives does not carry any insurance.

Person Injury Protection – This coverage provides no fault coverage for passengers who are injured in your vehicles.

With over 30 years of experience in the industry, Brad Runnebaum and Jeff Hartman established PlatinumOne Insurance Agency in 2008. We have established relationships with some of the top carriers in the industry including Travelers, Allied, Safeco and many others.

Winter is fast approaching and the potential damage to your auto, RV, motorcycle and even ATV can be serious. Most of us are getting our homes prepared for winter, but don’t forget about your vehicles. Many kinds of winter damage can be insured under the auto comprehensive coverage on your policy.  However, it is better to do a little preparation to avoid auto claims all together. With over 30 years of experience in the industry, Brad Runnebaum and Jeff Hartman established PlatinumOne Insurance Agency in 2008. We have established relationships with some of the top carriers in the industry including Travelers, Allied, Safeco and many others.

Winter Vehicle Preparation

• Keep your car well maintained.
• Put snow tries or studs on when legally allowed.
• Check the battery. Cold weather makes the vehicle’s battery work much harder and getting stranded in the cold is no fun!
• Clean, flush and put new antifreeze in the cooling system.
• For best results in clearing the cold, heavy grime off your windshield, select a washer fluid containing an antifreeze solution. But be aware that some washer fluids can be harsh and damage your car’s paint.
• Keep a small tube of lock deicer around in case you have a frozen lock.
• Keep the gas tank as full as possible. Running out of gas in freezing conditions would not be good.
• Pack a safety kit that includes a flashlight, water, jumper cables, blanket, flares, boots, paper towels, gloves, radio, and shovel.

Time for a Personal Insurance Review

Now is also a good time to have us review all of your personal insurance needs. We have access to many competitive markets that can offer you personal insurance discounts.

We are locally owned and operated out of Overland Park, Kansas and are strongly represented in all areas of the Kansas City metropolitan area including not only Kansas City, but also Olathe, Leawood, Lenexa & Shawnee.