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

To Bundle or Not Bundle, That is The Question

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

Have you considered bundling your home and auto insurance? Although you have the opportunity to compare prices for each policy separately, it is nearly always wise to have the same carrier handle the majority of your policies.

Advantages of Bundling

The prospect of a discount is what motivates the majority of policyholders to bundle their policies. The sum varies depending on the provider, but it often falls between 6% and 23%.

A single deductible option is available with bundled insurance, and in the event that a claim affects numerous policies, your deductible may be less expensive. You would be responsible for paying both your home and auto deductibles before obtaining payment, for instance, if your home and auto policies are with two different insurers and a hailstorm damage both your home and car. However, your provider can provide you the choice to pay only the bigger of the two deductibles if you bundle your insurance.

When Bundling Isn’t Worth It

If you have tickets or prior claims that make your auto insurance pricey, it can be more cost-effective overall to purchase each coverage from a different provider in this situation.

A Few Things to Think About

Although discounts are the primary driver behind insurance policy bundling, you should never assume it is the most cost-effective choice. Whether you should combine your plans with one provider will depend on your requirements and situation.

To save yourself time, ask an independent insurance agent to compare rates from other providers. You might be able to receive reductions from an agent who is committed to a specific carrier that you can’t get on your own.

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A Personal Insurance Guide

Posted under Homeowner’s Insurance.

When was the last time you reviewed your personal insurance coverage? The New Year is a great time to review your personal insurance. Most of us know that major life events can make it necessary to update our 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 personal insurance coverage and price.

Items To Consider (you may need insurance for some of these)

  • 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
  • Child headed off to college
  • Purchased second home
  • Planned foreign travel
  • Started a home based business
  • I now drive my personal car for work

Personal Insurance

  • Review my insurance to make sure I have the right coverage
  • Take the time to read my insurance policies
  • Does my independent agent have all my correct information, including new phone number, address, and newly purchased property?
  • Make sure I have identity theft insurance
  • Do I have enough life insurance?
  • Do I need life insurance for my spouse?

A Personal Insurance Guide

When was the last time you reviewed your personal insurance coverage? The New Year is a great time to review your personal insurance. Most of us know that major life events can make it necessary to update our 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 personal insurance coverage and price.

Items To Consider (you may need insurance for some of these)

  • 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
  • Child headed off to college
  • Purchased second home
  • Planned foreign travel
  • Started a home based business
  • I now drive my personal car for work

Personal Insurance

  • Review my insurance to make sure I have the right coverage
  • Take the time to read my insurance policies
  • Does my independent agent have all my correct information, including new phone number, address, and newly purchased property?
  • Make sure I have identity theft insurance
  • Do I have enough life insurance?
  • Do I need life insurance for my spouse?

Some Good Insurance Related Questions

Posted under Auto Insurance, Benefits of Being Independent, Commercial Insurance, Homeowner’s Insurance.

We recommend asking your agent a series of questions to better understand what your insurance covers and does not cover. 

  • Do I need a personal umbrella? What does it cover?  What limit should I have?
  • I drive for a ride-share company. How am I covered?
  • What is replacement cost coverage, and why is it important?
  • What happens if I rent a car and go both domestically and abroad? What coverage would my insurance have? 
  • My homeowners’ deductible, what is it? How would it be waived? When did I most recently file a homeowners claim? 
  • What would happen if my house was destroyed completely? Could I instead use the cash value of my policy?
  • My house is old. Would my insurance pay to rebuild my house to current building codes, or would I be responsible for that cost?
  • I have a wine collection; how is that covered?
  • I just constructed an outdoor kitchen, is this automatically covered? If not, what do I need to do?
  • Can I receive any credits for combining my home and auto insurance together? 
  • What is flood insurance exactly? Or an earthquake occurrence? Does my insurance cover these incidents? If not, should I add coverage?
  • I employ a housekeeper.  What if they had a work-related injury?
  • Am I potentially liable for their lost wages and rehabilitation? What if I’m sued by my employee?
  • What if I misplace my jewelry? 
  • I serve on boards for both for-profit and not-for-profit organizations. Will a claim made against me be covered by my own insurance?
  • How much would my automobile be worth if it were a total loss? How, if at all, would the deductible apply?
  • I recently started a home business. Does my homeowner’s insurance provide any coverage?
  • When should I include my kids in my auto insurance policy? When should they be removed?
  • What happens if a sewer or drain inside my house backs up? I believe I am protected, but am I?

Give us a call today; we would be happy to help you better understand your insurance coverage. 

insurance

How To Find A High Value Insurance Agent

Posted under Benefits of Being Independent, Cyber Liability, Homeowner’s Insurance, News and Announcements, Personal Insurance.

When searching for the right commercial insurance agent for your business, you should find someone who focuses not only on providing excellent coverage but also on providing excellent customer service. They serve as an additional business partner to assist you in enhancing your business operations.

If you are a small business owner seeking a new insurance policy for your company, we have included some information on how we can assist you in selecting the policy that best meets your company’s needs.

There are two prevalent types of insurance agents: captive and independent. A captive agent represents a single insurance company and can only sell policies from that company. An independent agent is not limited to a single carrier; therefore, they are able to shop around for you with multiple carriers and assist you in obtaining coverage for all the different types of insurance your business requires.

What To look For In Your Agent?

  • Provides information
  • Offers solutions other than insurance
  • Discusses risk management
  • Has a professional team
  • Understands your ‘business
  • Value customer service

How can you tell if your commercial insurance agent is looking out for your best interests? The first thing to observe is whether they ask numerous questions to better assist your business. In addition, they will follow up with multiple (not just one) solutions for all your coverage needs and give you options that fit your business and budget.

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.

insurance

Football Playoffs Means Tailgate Parties

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

College and pro football season is in playoff mode, and that means this Saturday or Sunday, many of us will also be enjoying the traditional tailgate parties. But don’t let a great day be spoiled by a lack of personal insurance. Did you know that in many cases, your homeowner’s insurance can cover your liability if you injure someone during a tailgate party? It is important to have us review your homeowner’s insurance to make sure that you have the proper coverage. A homeowner’s insurance review can take less time than a scoring drive by the Kansas City Chiefs high flying offense!

Here Are Some Simple Safety Tips For Your Tailgate Party

  • Keep food at a safe temperature while transporting from home to the game.
  • Keep foods separated in plastic bags.
  • Preparing and cooking meat requires using proper sanitation.
  • Always cook meat completely. Hot foods must be kept at 140°F or higher. If you’ve prepared all your food at home, make sure it’s quickly cooled. Then, keep it below 40°F.
  • When packing the cooler, be sure raw meat and poultry are wrapped securely and separately.
  • Don’t let food sit out for hours.
  • If you serve any fish/shellfish make sure your party guests don’t have allergies. Don’t use the same cooking surface for fish/shellfish and other foods.
  • Even on cloudy days, you may have a need for sunscreen.
  • Drink lots of water.
  • Pack lots of ice to keep foods fresh.
  • Try to monitor drinking; there is nothing worse than a drunken football fan.
  • If you use a grill, make sure you follow all manufactures safety instructions.
  • Don’t use a grill close to any vehicles.
  • Keep lighter fluid away from grill or heat.
  • Always have a fire extinguisher and first aid kit on hand.

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.

insurance

Do I Need A Personal Umbrella Policy?

Posted under Uncategorized.

The more your earning power and assets increase, the more you have at risk, and therefore, the more you need to protect. Kansas homeowners and automobile insurance provides a minimum limit of liability coverage.  An Umbrella policy from PlatinumOne Insurance Agency provides coverage above the limits of your “primary” home and auto policies.

Many people are unsure what an Umbrella policy is or what it covers. When you are outside and there is a light rain or breeze you generally don’t need or want an Umbrella. However, if it is pouring down rain with high winds, you need your umbrella. An Umbrella Insurance policy works much the same way. Umbrella Insurance provides extra protection or limits above the liability insurance you currently have. Just as an Umbrella protects you from heavy rain, an Umbrella Insurance policy protects you from losing the entirety of your wealth and assets in the event of a claim. A clear advantage of an Umbrella policy for Kansas residents is the coverage’s ability to “drop down” and fill in the gaps in underlying policies.

Certain lifestyle pursuits such as volunteering for nonprofits can increase your risk of being sued, necessitating the need for higher personal liability limits. Also if you own a boat, RV, motorcycle, or have a pool, you may way to consider higher limits. If you have a high net worth it is advisable to protect your assets with a personal Umbrella policy. The cost for a $1,000,000 or $5,000,000 is reasonable and well worth it.

Kansas Umbrella insurance policies provide broad coverage beyond traditional home and auto. They provide additional liability coverage above the limits of your Kansas homeowner’s, Kansas auto, and Kansas RV, or boat insurance policies.

insurance

What Is Trending In The Insurance World

Posted under Uncategorized.

Every so often, we think it is a good idea to talk about what may be happening regarding business insurance, personal insurance, and risk management. We review many different insurance publications, insurance company bulletins, and other professionals’ opinions to analyze these trends.

We hope you will consider these as part of your personal and business insurance review process.

Insurance and risk management trends to watch

With the recent cyber breaches, cyber liability is a hot issue. More firms are buying cyber coverage. Cyber threat is a hot, high-profile issue these days throughout the business and the insurance industry. The threat is real, and the economic exposure is potentially catastrophic. Basically, a company is liable for any damage, real or possible, caused by computer-based theft or vandalism. If attacked, a business is legally responsible for notification (ongoing communications with every individual whose records were possibly compromised) and it is liable for any legal action regarding identity theft.

There are more insurers entering the marketplace. While this can be a good thing, some of these insurers are not financially strong, which might lead to issues at a later date. We always recommend using stable and financially strong insurers.

Increased reliance on technology will lead to better-run insurers and stable premiums. The development of advanced loss control analytic tools will revitalize insurers’ focus on claim reduction and potentially lead to increased investments in loss control.

Term life insurance continues to be very competitive. This will continue to allow more and more people to have an interest in life insurance.

Mobile applications are one of the fastest-growing areas of insurance. People are managing their insurance on-line, including premium payments.

Health insurance will cost more for most of Americans.

Retirement income innovations.  A groundswell of consumer interest in ensuring sufficient income in retirement has led to many innovative products for those planning retirement.

Let PlatinumOne Insurance Agency can provide you with an insurance check-up to make sure you have the best possible coverage. We have access to a number of different markets and can save you even more if you combine your home and auto together.