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.

Cyber Liability is Critical For Every Business

Posted under Commercial Insurance, Cyber Liability.

In today’s world, businesses of all sizes are increasingly relying on technology to manage their operations, communicate with customers and partners, and store sensitive information. However, this increased reliance on technology also exposes businesses to new and evolving risks, such as cyberattacks and data breaches. Cyber insurance can help businesses mitigate these risks by providing financial protection in the event of a cyber incident.

Cyber insurance is a type of insurance policy that is designed to protect businesses against losses and damages resulting from cyberattacks, data breaches, and other cyber-related incidents. These policies can provide coverage for a wide range of expenses, including the costs of investigating and responding to a breach, notifying affected customers or clients, and repairing damaged computer systems or networks. They can also provide coverage for legal fees and settlements resulting from lawsuits filed against the business following a cyber incident.

The cost of cyber insurance policies can vary widely depending on factors such as the size and industry of the business, the level of coverage needed, and the business’s history of cyber incidents. However, the cost of a policy is generally much lower than the potential costs of a cyber incident, which can include lost revenue, damage to a company’s reputation, and costly legal settlements.

When considering whether to purchase cyber insurance, businesses should carefully evaluate their cyber risks and choose a policy that provides appropriate coverage. This may involve working with an experienced insurance broker who can help identify potential risks and select a policy that meets the business’s specific needs.

In addition to purchasing cyber insurance, businesses should also take proactive steps to reduce their cyber risks. This may include implementing strong security measures such as firewalls, antivirus software, and employee training programs to prevent cyber incidents from occurring in the first place.

Overall, cyber insurance can be a valuable tool for businesses looking to protect themselves against the financial consequences of a cyber incident. By carefully evaluating their risks and selecting an appropriate policy, businesses can minimize their exposure to cyber-related losses and focus on growing their operations with confidence.

Insurance For High-Net-Worth Individuals

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

High net-worth individuals (HNWIs) have unique insurance needs due to the substantial assets and investments they hold. Insurance coverage for HNWIs goes beyond standard policies and includes specialty coverage tailored to their specific risks and lifestyle. In this blog, we’ll explore some of the insurance types that HNWIs should consider protecting their assets.

High-Value Home Insurance: For high-net-worth individuals, their home is often their most significant investment. Standard homeowners’ insurance policies have limitations on coverage and may not cover the full replacement cost  (unique woods and fixtures) of a high-value home in case of damages or loss. High-Value Home Insurance policies offer broader coverage and higher limits, covering the full cost of rebuilding or replacing the property and its contents.

Umbrella Liability Insurance: HNWIs often have a higher risk of lawsuits due to their assets, investments, and public exposure. Umbrella Liability Insurance provides additional protection beyond the limits of standard policies, such as homeowners, auto, and watercraft insurance. The coverage amount can range from $1 million to $100 million, depending on the individual’s needs.

Collector Car Insurance: HNWIs often have collections of exotic or classic cars, which require unique coverage due to their high value and limited use. Collector Car Insurance provides coverage for damage, theft, and liability. It also includes coverage for restoration and repair costs.

Fine Art Insurance: HNWIs often have valuable art collections, including paintings, sculptures, and antiques. Fine Art Insurance covers damage or loss to these collections, including transit and storage. The coverage amount is based on the appraised value of the collection.

Kidnap and Ransom Insurance: HNWIs may be at risk of being kidnapped or extorted due to their public exposure or high net worth. Kidnap and Ransom Insurance provides coverage for ransom payments, crisis management, and legal fees. It also provides security consulting services and travel advisories.

Private Aviation Insurance: HNWIs often own private planes or use private aviation services for business or leisure. Private Aviation Insurance provides coverage for damage, liability, and personal injury. It also covers airport premises liability and medical payments.

In conclusion, HNWIs have unique insurance needs that require specialized coverage to protect their substantial assets and investments. By considering the insurance types mentioned above, HNWIs can ensure they have the right coverage to protect their lifestyle and peace of mind.

Why Is Home Insurance Important?

Posted under Homeowner’s Insurance, Personal Insurance.

Homeowner’s Insurance Update

How many of you have actually read your homeowner’s insurance policy? We guess not too many. We do recommend that you read your policy to help you understand what coverage you have. Most homeowners are familiar with the basic coverage found in their homeowner’s insurance policy, including coverage for the home itself, personal property, and liability associated with owning a home.

Are There Other Coverages?

There is often other coverage found in your homeowner’s insurance policy that you may not know you have. Remember, each policy is different, so these coverage examples are general in nature.  This “hidden” coverage may have specific limits and terms of which you need to be aware, but here are some examples of coverage found in most homeowner’s insurance policies.

  • Liability coverage away from your home. You have coverage if you cause injury to a third party away from your premises.
  • Damage to your neighbor’s property. If you are at a party and cause damage to your neighbor’s property, chances are it would be covered.
  • Legal expenses. Should you be sued for an accident that occurred in your home, chances are legal costs would be covered under your homeowner’s insurance policy.
  • Additional living expenses. Your policy can pay the additional costs of living away from home if you cannot live there due to damage from an insured loss. It covers hotel bills, restaurant meals and other costs, over and above your usual living expenses, incurred while your home is being rebuilt.
  • Money. Many homeowners’ policies provide a small amount of coverage for stolen money.
  • Property of your college student. If your dependent child is a full-time college student living on campus, their property is covered by your homeowner’s insurance policy

It is important to note that not all homeowner’s policies are created equal, and what one company offers may not be the same as another company. Also keep in mind, if you bought your policy online, who really knows what coverage you have?

With over 40 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, Kemper, Encompass, Progressive and many others.

Why Is Commercial Auto Insurance Important?

Posted under Auto Insurance, Commercial Insurance.

Do you operate a business requiring a vehicle to deliver your goods and services to your clients?  Do you have a fleet of delivery trucks that are on the road 24/7?  Small firms who own or operate vehicles have the same risks as large firms.  You are at risk from losses arising out of accidents that can damage your vehicles and cause injury to third parties and employees.

What Kinds of Cars Are Insured by Commercial Auto Insurance? 

Business cars come in a variety of shapes and sizes, from your personal car that you use to transport food to the neighborhood farmer’s market to the trucks that your construction company uses and beyond:

  • Cars
  • Cargo Van
  • Long Haul Trucks
  • Contractors Trucks
  • Machinery
  • Pick-Up Trucks
  • Box Trucks
  • Food Trailers
  • Truck Dumps
  • Ice Cream Trucks
  • Food Delivery Vans

Commercial auto insurance can provide your firm with security and protection from devastating liability claims arising from an accident involving your vehicle.  Commercial auto insurance is normally offered on vehicles owned by a commercial business and can include the following:

  • Bodily Injury Liability – Coverage for damages that involve bodily injury to third parties for which you become legally liable under the law.
  • Property Damage Liability – Coverage for damage to the property of others.
  • Medical Payments – Coverage for reasonable and necessary medical expenses for those who are accidentally injured while in your automobile or while getting in or out of your automobile.
  • Personal Injury Protection – Coverage for medical, hospital, rehabilitation, loss of wages or loss of services costs resulting from injury to you or any guest injured while in the vehicle.
  • Comprehensive – Protection for the loss of or damage to, your vehicle and equipment from all causes except collision, subject to the terms and conditions of the policy.
  • Collision – Protection for collision damage to your automobile and its equipment, subject to the deductible and terms of the policy.
  • Uninsured Motorist – Coverage allows you to recover bodily injury damages due to an accident where the other party does not have liability insurance and is legally liable.
  • Underinsured Motorist – Coverage allows you to recover bodily injury damages due to an accident where the other party is found legally liable and does not have adequate liability limits.
  • Hired Auto Liability Coverage – Covers liability for automobiles hired under contract on behalf of, or loaned to, the named insured.

Who Needs Commercial Auto Insurance?

There are a variety of situations in which you should think about purchasing commercial auto insurance for a company vehicle:

  • If you run a business where employees drive their own cars to work,
  • You run a caterer or food truck business.
  • You utilize a vehicle to move items for hire.
  • You work as a contractor and transport tools in your automobile.

You’re putting your company in danger and running the chance of losing thousands of dollars if you don’t have this business insurance coverage.  The costs mount if you are involved in an accident.  Your car and anyone else who was in the accident may need to be repaired or replaced.  Medical costs for you, your passengers, and other injured drivers can quickly mount up.  You could be looking at exorbitant fees if there is property damage, potential legal action, or even the death of someone who was hurt.

If you already have a personal auto insurance policy, what then?  You still require coverage for your commercial vehicles.  Personal auto insurance coverage might not pay claims if you have an accident while operating a business.  Think about paying those bills!

Whether your company needs to purchase Commercial auto insurance on one vehicle or a fleet, there are solutions for you.  We understand you may have questions regarding commercial automobile insurance, and we are ready to help you.

Commercial and personal auto insurance are very similar regarding the basic kinds of protections they offer.  A commercial policy, however, has some important advantages over a personal one, including the ability to protect you, your employees, and your company from exposure to uncovered liabilities brought on by serious accidents.

We are the smart way to buy insurance. As a leading Kansas City Independent Agency, we offer a broad selection of insurance policies, companies and financial services. We are licensed in Kansas, Missouri and Nebraska and are not limited to placing your insurance with just one carrier. By representing multiple carriers such as Travelers, Allied, Kemper, Encompass and Progressive, we have the flexibility to choose the insurance company that can best serve your individual needs. Having choices is our advantage… and it benefits you the customer.

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. We primarily write business in Jackson, Cass and Platt County in Missouri but again are licensed in the entire State to write business. We offer preferred coverage that qualifies for all mortgage companies and strive to be the premier Kansas City Independent Insurance Agen

We Insure Your Fun

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

It is getting close to spring and summer, which means getting your toys insured. That is where we can help. We offer insurance coverage options and competitive prices on all kinds of toys, including boats, personal watercraft, RVs, motorcycles, ATVs, and more.

All of these vehicles require insurance to protect you from damage and liability. It is critical to have the right kind of insurance coverage for your recreational vehicles. The majority of these are not automatically covered by your home or auto insurance policies.

RV Insurance

RV insurance rates vary from one company to the next. It is critical that we shop your insurance to ensure that you get the best coverage possible. A one-size-fits-all insurance policy does not exist. Some insurers provide better rates for trucks, RVs, and campers, whereas others provide better rates for expensive motorhomes.

• Liability Coverage for RVs

• Collision and comprehensive insurance

• Around-the-clock roadside assistance

• Uninsured/underinsured motorist protection

• Money for unexpected expenses

• Contents coverage

• Towing protection

• Medical payments insurance

Watercraft Insurance

Whether you own a sailboat, a luxury yacht, or something in between, our comprehensive watercraft coverage can be tailored and designed to your specific needs and includes broad navigational limits to protect you in both domestic and international waters. We can also provide coverage for personal watercraft.

ATV and Golf Cart Insurance

A standard auto insurance policy doesn’t cover ATVs. Even if you are not required to carry physical damage insurance on your ATV, it is still important to protect yourself from liability claims if you injure a third party.  

We are the smart way to buy insurance. As a leading Kansas City Independent Agency, we offer a broad selection of insurance policies, companies and financial services. We are licensed in Kansas, Missouri and Nebraska and are not limited to placing your insurance with just one carrier. By representing multiple carriers such as Travelers, Allied, Kemper, Encompass and Progressive, we have the flexibility to choose the insurance company that can best serve your individual needs. Having choices is our advantage… and it benefits you the customer.

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. We primarily write business in Jackson, Cass and Platt County in Missouri but again are licensed in the entire State to write business. We offer preferred coverage that qualifies for all mortgage companies and strive to be the premier Kansas City Independent Insurance Agen