When to Call Your Personal Insurance Agent

Posted under Auto Insurance, Homeowner’s Insurance, Personal Insurance.

Personal insurance is a vital component of financial planning and risk management. Whether you have auto, home, or other types of insurance, your insurance agent plays a crucial role in helping you navigate the complexities of your policies. However, many people are unsure of when it’s appropriate to contact their personal insurance agent.

Policy Review and Updates

One of the most common reasons to call your personal insurance agent is to review and update your policies. Life is dynamic, and your insurance needs may change over time. Major life events such as getting married, having children, buying a new home, or starting a business can all impact your insurance requirements. An annual policy review with your agent can ensure your coverage aligns with your current situation and financial goals.

Claim Filing

In the unfortunate event of an accident or damage to your property, you should reach out to your insurance company or agent to begin the claims process. Your agent will guide you through the necessary steps, helping you understand the documents you need to provide and the timeline for filing the claim. They can also offer advice on whether it’s in your best interest to file a claim, considering your deductible and potential premium increases.

Coverage Questions

Insurance policies can be complex, filled with industry-specific jargon and nuances. If you have questions or concerns about your coverage, don’t hesitate to contact your insurance agent. They can clarify policy details, explain coverage limits, and help you understand any exclusions that may apply.

Policy Changes

When you experience changes in your life, such as purchasing a new vehicle, renovating your home, or taking on a new hobby, it’s essential to inform your insurance agent. These changes can affect your coverage requirements, and your agent can help you make adjustments to ensure you remain adequately protected. For instance, you may need to update your auto insurance policy if you purchase a new car or adjust your homeowner’s insurance if you expand your living space.

Changes in Financial Situation

A significant change in your financial situation, such as a promotion, a new job, or a change in income, can influence your insurance needs. Your insurance agent can help you assess how these changes affect your policies and recommend appropriate adjustments.

Coverage Comparisons

If you’re considering switching insurance providers or exploring new coverage options, your personal insurance agent is a valuable resource. They can provide you with quotes, explain the pros and cons of different policies, and help you make an informed decision based on your needs and budget.

Your personal insurance agent is there to assist you with all aspects of your insurance needs. Regular communication with your agent is crucial to ensuring that your coverage remains up-to-date, comprehensive, and cost-effective. From policy reviews and updates to claims assistance and coverage questions, your insurance agent protects your financial well-being. Don’t hesitate to reach out whenever you have questions or when life changes warrant a closer look at your insurance coverage. Your agent is there to provide the guidance and support you need.

Call us today and let us help protect what is important to you. We are a full-service insurance agency representing individuals, families and businesses in the Kansas City area. We are licensed professionals who are not limited to placing your insurance with just one carrier. We have the flexibility to choose the insurance company that best serves your individual needs. Having choices is our advantage and it benefits our customers.

Questions You Should Ask Yourself About Your Personal Insurance

Posted under Auto Insurance, Homeowner’s Insurance, Personal Insurance.

Everyone needs some level of personal insurance. Most purchase auto insurance, homeowners or renters insurance, life insurance, and maybe personal umbrella coverage. There are many choices that at times you may wonder which is best for you and your family.  We put together a list of questions you might think about as you consider your personal insurance. We always recommend you review your personal insurance annually to ensure it meets your needs. 

Do Agents Offer Something Different?

We would answer that as a yes because, agents have access to different kinds of insurance companies, they offer you a choice and work to provide the best possible combination of coverage price and service. Agents are a small business whose goal is to look out after their clients.

If I Rent, Do I Still Need Insurance?

Renters should purchase renters insurance to protect their personal property like; furniture, guns, electronics, and clothes. Your apartment owner may also require liability coverage, which can be included in renters insurance. Renters insurance is very affordable and can be an effective way to make sure you are covered in the event of a loss.

Does The Type Of Vehicle Affect My Auto Premiums?

Yes. The make and model of the car you drive play a factor in your car insurance rates. The cost of your vehicle also makes a big difference; the more it costs to repair or replace your vehicle, the more you will pay to insure it.

Are There Auto Insurance Discounts?

Many insurance carriers offer lower rates to good students, military personnel and people with excellent credit. Ask your agent what discounts are available.

Will a Parking Ticket Affect My Auto Insurance Premiums?

Not usually. You can generally have one ticket on your history without it adversely affecting your premium.

When Should I Consider Life Insurance?

Life insurance is something you might consider when you get married or start having children. Some employers offer a small amount of life insurance, but these plans generally are not enough. Life insurance can provide peace of mind to loved ones in the event of an untimely death of a breadwinner. Life insurance proceeds can be used to fund college, pay for outstanding bills, to supplement lost income for a period of time.

Life insurance premiums are at all time lows so it can be a very cost effective financial planning tool.

Is A Personal umbrella Policy important?

Most of us engage in daily activities that put us in danger. Your danger of being sued simply increases if you own a car or an automobile. Many Americans only purchase vehicle liability insurance for $300,000 and homeowners’ liability insurance for no more than $300,000. A personal umbrella policy can give you an extra $1 million in liability protection. 

I Am Remolding My Home, Do I Need To Adjust My Insurance?

If your insurance is written on a replacement cost basis, there may be no need to make adjustments, but we always recommend you contact your agent to review this question. The answer depends on the kind of work you are doing. For example, if you are replacing your carpet with a similar product, you may not need to make any changes in your policy. But if you are adding a 500-foot addition on to your home, then this would definitely require adjustments in the value of your home.

For example, say your insurance valuation is based on a kitchen with laminate countertops and generic cabinets. But then you spend $60,000 on granite countertops, custom cabinets, and top-of-the-line appliances. Would your existing coverage be sufficient to rebuild your remodeled kitchen after a loss? Most likely, you would have an issue.

Before you enter into any renovation project, contact your agent, and they can help you identify which areas may require insurance updates.

I Have A Home Based Business, Should I Get Additional Insurance?

Homeowners or renters insurance policies do not cover any business risks. If you run a business out of your home, we recommend you purchase a business insurance policy. If you have customers in your home for business purposes, your home insurance does not provide any coverage.  Depending on the type of business, coverage may be added to your existing homeowner’s policy through a rider or endorsement.

I Just Bought A Personal Watercraft, Is That Covered?

Unlike small boats, personal watercraft are not generally covered by your homeowners This would include; bodily injury to you that is caused by an uninsured watercraft operator. The legal costs if you’re sued due to an accident.  And any damage to the personal watercraft you own.

Navigating Insurance Issues in the Sharing Economy

Posted under Auto Insurance, Commercial Insurance, Homeowner’s Insurance, News and Announcements, Personal Insurance.

The sharing economy has transformed industries and consumer behaviors, creating new opportunities and challenges. As individuals increasingly participate in platforms like Airbnb, Uber, and TaskRabbit, the landscape of traditional insurance has had to adapt to accommodate this evolving economic model. The integration of sharing economy services into daily life has given rise to a myriad of insurance concerns, prompting a reevaluation of existing policies and the development of innovative solutions.

The Rise of the Sharing Economy

The sharing economy, characterized by peer-to-peer exchanges of goods and services, has gained widespread popularity due to its cost-effectiveness, convenience, and flexibility. Platforms like Airbnb and Uber have revolutionized accommodation and transportation respectively, allowing individuals to leverage their underutilized resources to generate income. However, this new economic paradigm has brought forth several insurance-related challenges that need to be addressed.

Insurance Gaps and Coverage Limitations

One of the primary issues in the sharing economy is the potential gap in insurance coverage. Traditional insurance policies, designed for personal use, may not adequately protect individuals engaging in commercial activities within the sharing economy. For instance, a homeowner’s insurance policy might not cover damages caused by a guest staying through Airbnb. Similarly, personal auto insurance policies might not provide coverage during ride-sharing activities.

These gaps in coverage have prompted sharing economy platforms to develop their own insurance policies. For instance, ride-sharing platforms often provide liability coverage for drivers during active rides. However, these policies are typically contingent on certain conditions being met, such as the ride being booked through the app and the driver not deviating from the designated route. These limitations can still leave participants vulnerable in certain scenarios.

Regulatory Challenges

The sharing economy operates across national and local boundaries, making it difficult to establish consistent regulations and insurance standards. Insurance regulations can vary significantly from one jurisdiction to another, creating a complex landscape for sharing economy platforms to navigate. This lack of uniformity can result in confusion for both providers and consumers, and it can also hinder the development of comprehensive insurance solutions.

Innovations in Insurance Solutions

Recognizing the need to address these insurance gaps, companies and policymakers have started exploring innovative solutions. Some sharing economy platforms have partnered with insurance providers to offer hybrid policies that cover both personal and commercial activities. These policies aim to bridge the gap between traditional insurance and the unique risks associated with the sharing economy.

The sharing economy has undoubtedly brought about transformative changes to how we access goods and services. However, it has also exposed gaps and limitations in traditional insurance models. To fully realize the potential of the sharing economy while safeguarding the interests of all participants, a collaborative effort involving sharing economy platforms, insurance providers, regulators, and consumers is necessary. By addressing insurance issues head-on, we can create a safer and more inclusive environment for this new economic paradigm to thrive.

How Agents Can Help You Get Competitive Car Insurance

Posted under Auto Insurance, Personal Insurance.

How Agents Can Help You Get Competitive Car Insurance

Insurance agents can play a significant role in helping you obtain car insurance quotes by providing personalized assistance and guidance throughout the process. Here’s how agents can assist you in getting car insurance quotes:

Competitive Car Insurance

Expertise and Knowledge: Insurance agents are well-versed in the intricacies of different insurance policies, coverage options, and pricing structures. They can explain complex insurance terms, answer your questions, and provide insights into various coverage levels.

Customized Recommendations: Agents can assess your specific needs, driving habits, and other relevant factors to recommend coverage options that suit your individual situation. They can help you strike a balance between adequate coverage and affordability.

Multiple Quotes: Agents typically work with multiple insurance companies, which allows them to gather quotes from various insurers. This helps you compare options from different providers and select the one that offers the best value.

Comparison Shopping: Instead of you reaching out to different insurance companies individually, an agent can do the legwork for you. They can compare quotes, coverage details, deductibles, and other factors across different insurers to find the most suitable options.

Discounts and Savings: Insurance agents are knowledgeable about available discounts and savings opportunities. They can identify potential discounts you might be eligible for, such as safe driver discounts, multi-policy discounts, or discounts for bundling home and auto insurance.

Assistance with Paperwork: Insurance paperwork can be daunting and confusing. Agents can help you fill out the necessary forms accurately and ensure that you’re providing all the required information to get an accurate quote.

Guidance on Coverage Choices: Choosing the right coverage amounts and types can be challenging. Agents can explain the differences between liability, collision, comprehensive, and other coverage options, helping you make informed decisions.

Claims Assistance: In the unfortunate event of an accident, your insurance agent can guide you through the claims process. They can offer advice on how to proceed, provide necessary information to the insurance company, and help facilitate a smoother claims experience.

Policy Reviews: As your circumstances change over time, your insurance needs might also change. An agent can periodically review your policy to ensure that it still aligns with your needs and make adjustments as necessary.

Customer Support: Having a dedicated agent means you have someone to turn to if you have questions, concerns, or issues related to your insurance policy. They can act as an advocate on your behalf when dealing with the insurance company.

Quality Car insurance

Remember that while insurance agents can be valuable resources, it’s also a good idea to do some research on your own so you have a basic understanding of insurance concepts and terminology. This will help you have more meaningful conversations with the agent and make well-informed decisions about your coverage.

Who Needs Commercial Property Insurance

Posted under Commercial Insurance, Cyber Liability, News and Announcements.

Commercial property insurance is essential for a wide range of businesses and property owners. It provides protection for physical assets and property used in the operation of a business. Here are some entities that typically need commercial property insurance:

Business Owners: Any business, whether it’s a small startup, a retail store, a restaurant, or a large corporation, can benefit from commercial property insurance. It helps cover the cost of repairing or replacing physical assets such as buildings, equipment, inventory, and furnishings in case of damage or loss due to events like fire, vandalism, theft, and more.

Property Owners: Owners of commercial real estate, including office buildings, warehouses, retail spaces, and industrial facilities, require commercial property insurance to protect their investments from potential risks.

Landlords: If you lease or rent out commercial space to other businesses, having commercial property insurance can help protect you from liabilities arising due to property damage. It can also cover lost rental income if the property becomes uninhabitable due to a covered event.

Manufacturers: Businesses involved in manufacturing rely heavily on specialized equipment and machinery. Commercial property insurance can help cover the cost of repairing or replacing these assets in case of damage or breakdown.

Retailers: Retail businesses have valuable inventory, fixtures, and equipment that are critical to their operations. Commercial property insurance safeguards these assets against various perils.

Restaurants and Hospitality Businesses: Restaurants, hotels, and other hospitality businesses have unique assets like kitchen equipment, furnishings, and decor. Commercial property insurance can help them recover from events that could damage these assets.

Medical Practices and Clinics: Healthcare facilities often house expensive medical equipment and technology. Commercial property insurance can provide coverage for these assets in case of damage or loss.

Professional Offices: Businesses like law firms, accounting firms, and consulting companies might not have a lot of physical inventory, but they have valuable equipment and documents. Commercial property insurance can help protect these assets.

Technology Companies: Tech companies rely on computers, servers, and other specialized equipment. Commercial property insurance can cover the cost of repairing or replacing these assets in the event of damage or loss.

Nonprofits and Organizations: Even nonprofit organizations often have physical assets like office space, equipment, and supplies. Commercial property insurance can be important to protect their resources.

It’s important to note that the specific coverage needs of each business may vary based on factors such as the type of business, location, industry, and the value of assets. It’s recommended to consult with an insurance professional to determine the appropriate level of coverage for your specific situation.

Your Individual Personal Insurance Guide

Posted under Auto Insurance, Homeowner’s Insurance, Personal Insurance.

When was the last time you reviewed your personal insurance coverage? Most of us know that major life events can make it necessary to update our personal insurance coverage. But did you know that even subtle changes can have an impact on your financial needs and plans?  Call our office today, and we can help you find the right combination of coverage and price.

Insurance “To Do” List.

  • Review my home and auto insurance to make sure I have the right coverage
  • Take the time to read my insurance policies
  • Consider increasing my umbrella coverage
  • Check my credit score
  • Get a quote for earthquake insurance
  • Consider an alarm system
  • Clean my gutters
  • Have I replaced all the batteries in my smoke detectors?
  • Does my independent agent have all my correct information, including new phone number, address, and newly purchased property?
  • Consider increasing my auto deductibles on my older vehicles
  • Make sure I have identity theft insurance
  • Combine my auto and home insurance to save money
  • Complete a home inventory to ensure my property values are correct
  • Do I have enough life insurance?
  • Do I need life insurance for my spouse?

Have there been any of the following changes in my life situations? If so you may need to have your insurance adjusted to make sure you have the correct coverage.

  • Bought  a new car or sold a car
  • Changed your marital status
  • Bought a boat, RV or ATV
  • Change of address
  • Welcomed a new baby into the family
  • Major inheritance
  • Have a new teen driver in the family
  • New purchase of guns, jewelry or art
  • Child headed off to college
  • A Child over the age of 26
  • Purchased second home
  • Plan foreign travel
  • Started a home based business
  • Retirement

Give us a call today.

How to Build a Contractor’s Insurance Program

Posted under Commercial Insurance, News and Announcements.

Construction Risks

Contractor’s insurance coverage has become just as important to a contractor as it is to an architect or engineer. New methods of service delivery have created risks and exposures that need to be understood by Contractors. Contractors have many different liability exposures when managing a building project, subcontracting work, performing or subcontracting a design, modifying plans, changing a manufacturer’s specifications, or providing construction management services to a project owner. The course of construction, accidents, timelines, change orders, and contract administration are all concerns.

Contractor’s Insurance Should Include:

The basic contractor insurance program should include property, commercial liability, auto, equipment coverage and excess liability.

Industry-specific products like contractor’s professional liability, owners’ and contractor’s protective, and railroad protective may need to be considered.

Contractor’s bonds: A contractor’s license bond is a license and permit bond that is designed to assist all types of contractors. In many states, contractor bonds are required and help ensure that the contractor will operate in compliance with the local statutes as well as laws.

As an independent contractor, you may need to have worker’s compensation insurance. Worker’s comp regulations are mandated state by state. If you are in business for yourself, and you do not have employees, you are most likely not required to buy worker’s comp.

You will need environmental liability coverage if you are involved in certain kinds of work.

Depending on how the contract is written, you may need the builder’s risk, which covers the building from loss due to fire etc.

We specialize in Contractor’s insurance of every kind. If you are a new venture or do not have insurance, we have a program for you.

insurance

July 4Th Safety

Posted under Safety.

How To Celebrate July Fourth Safely

Fireworks during the Fourth of July are as American as apple-pie, but did you know that two out of five fires reported on that day are started by fireworks, more than for any other cause? So you think it cannot happen to you? Here are a few facts:

In 2022 over 9,800 people went to the emergency room as a result of fireworks related injuries. There were an estimated 15,700 reported fires started by fireworks. These fires resulted in an estimated eight reported deaths, and $32 million in direct property damage. This is why it is a good idea to have a free home insurance review and quote, call us today!

Fireworks Safety Tips

  • Buy fireworks only from licensed vendors
  • Never combine fireworks
  • Obey all local laws
  • Never have any portion of your body directly over a firework while lighting
  • Follow directions
  • Never relight a firework
  • Don’t smoke or drink while lighting fireworks
  • Soak used fireworks in water before placing in trash 
  • Make sure there is parental supervision
  • Never experiment with homemade fireworks
  • Use fireworks outdoors, in a safe area away from dry grass and buildings
  • Keep a fire extinguisher, bucket of water, wet towels and a garden hose nearby
  • Light one firework at a time – then move back quickly!
  • Never shoot fireworks from metal or glass containers
  • Never carry fireworks in your pocket
  • Never point or throw fireworks at people or animals
  • Clean up all used fireworks including debris

 “Fireworks and celebrations go together, especially during the Fourth of July and year end celebrations. Remember, fireworks can be dangerous, causing serious burn and eye injuries. You can help us prevent fireworks-related injuries and deaths” Consumer Products Safety Commission.

Enjoy the holiday; we live in a great country, happy birthday America!

Why Do Home Insurance Premiums Differ From State To State?

Posted under Homeowner’s Insurance.

Home insurance premiums can vary significantly from state to state, and even from one zip code to another within the same state. This variation in price can be influenced by many factors, including the location of the home, the type of home, and the risks associated with the area.

Natural Disasters and Climate

Natural disasters such as hurricanes, floods, earthquakes, and wildfires can cause extensive damage to homes, resulting in higher insurance claims. States that are prone to natural disasters may have higher insurance premiums as a result. For example, Florida and Louisiana are both states that are highly prone to hurricanes and flooding, resulting in higher premiums for homeowners insurance.

Building Codes

Building codes can vary from state to state and can have a significant impact on the cost of insurance. In states with stricter building codes, the likelihood of damage to the home is reduced, resulting in lower insurance premiums. Conversely, states with less stringent building codes may have higher premiums to reflect the increased risk of damage to the home.

Crime Rates

The crime rate in an area can also impact the cost of home insurance. States or cities with higher crime rates may have higher insurance premiums, as there is a greater risk of theft, vandalism, or other criminal activity that could result in damage to the home or loss of property.

Litigation and Legal Environment

States with a higher incidence of litigation or stricter liability laws may have higher insurance premiums to account for the increased risk of legal claims against homeowners. For example, some states have more lenient laws regarding lawsuits related to dog bites, while others have more stringent laws, which can impact the cost of insurance.

Insurance Regulation

Each state has its own insurance regulatory environment, which can impact the cost of insurance. States with more stringent regulations may have higher insurance premiums, as insurers must comply with more regulations and may face higher costs associated with doing business in the state.

Housing Market

The housing market can also impact the cost of home insurance. In areas with high demand for housing, such as California or New York, the cost of insurance may be higher due to the increased value of the homes. Conversely, in areas with lower home values, the cost of insurance may be lower.

Other Factors Can Include:

  • The value of your personal property
  • If you have  a dog
  • Is there a pool
  • Location of fire services
  • Quality of construction
  • Age of your home
  • Clams history

There are many factors that can impact the cost of home insurance premiums from state to state. Natural disasters, building codes, crime rates, litigation and legal environment, insurance regulation, and the housing market all play a role in determining the cost of insurance. Homeowners should be aware of these factors when shopping for insurance and be prepared for variations in price depending on where they live. It is important to have your agent compare insurance quotes from different companies and understand the coverage offered to ensure that you are getting the best value for your money.

What Are The Differences Between a Home Warranty And Home Insurance?

Posted under Homeowner’s Insurance, News and Announcements.

Your home is likely one of the most significant investments you’ll ever make. Therefore, it’s essential to protect it from damage or loss. However, understanding the differences between home insurance and a home warranty can be confusing. In this blog post, we’ll discuss the differences between these two types of coverage.

Home Insurance

Home insurance is designed to protect your home and personal property from various types of risks, such as theft, fire, natural disasters, and other unforeseen events. When you purchase home insurance, you pay a monthly or annual premium, and in return, your insurance company agrees to pay for any damages to your home or personal property that are covered by your policy.

Home insurance policies typically cover the structure of your home, including the walls, roof, and foundation, as well as any attached structures such as garages. They also cover personal property, including furniture, appliances, and other belongings.

There are several types of home insurance policies, including:

  • Basic or Named Perils Coverage: This policy covers specific risks that are listed in the policy, such as fire, theft, and certain types of weather-related damage.
  • Broad Coverage: This policy covers a wider range of risks than basic coverage, including damage caused by falling objects, water damage, and damage from electrical surges.
  • Comprehensive Coverage: This policy covers almost all types of risks, except for those that are explicitly excluded in the policy.

Home Warranty

A home warranty, on the other hand, is a contract between you and a home warranty company that covers the cost of repairing or replacing specific items in your home, such as appliances and systems. A home warranty is designed to protect you from unexpected repair or replacement costs, which can be costly and unexpected.

When you purchase a home warranty, you pay a monthly or annual premium, and in return, the home warranty company agrees to cover the cost of repairing or replacing covered items in your home.

Home warranty policies typically cover items such as:

  • HVAC Systems: This includes your heating, ventilation, and air conditioning systems.
  • Electrical Systems: This includes your electrical panels, wiring, and switches.
  • Plumbing Systems: This includes your plumbing fixtures, pipes, and drains.
  • Appliances: This includes your refrigerator, dishwasher, oven, and other household appliances.

Differences Between Home Insurance and Home Warranty

The primary difference between home insurance and a home warranty is the type of coverage they provide. Home insurance is designed to protect your home and personal property from a wide range of risks, while a home warranty covers specific items in your home.

Home insurance policies typically cover damage caused by unforeseen events, such as natural disasters and theft, while a home warranty covers the cost of repairing or replacing specific items in your home that have failed due to normal wear and tear.

Additionally, while home insurance is typically mandatory if you have a mortgage, a home warranty is optional. Finally, home insurance policies are typically more expensive than home warranty policies because they cover a wider range of risks and have higher coverage limits.

Home insurance and a home warranty are two distinct types of coverage that serve different purposes. Home insurance is designed to protect your home and personal property from a wide range of risks, while a home warranty covers the cost of repairing or replacing specific items in your home. It’s essential to understand the differences between these two types of coverage so that you can choose the right protection for your home.