Friday, October 25, 2013

Homeowners insurance risk warnings for Halloween celebrations issued

As property owners add their decorations and prepare for parties this weekend, there are certain cautions from the industry.

As Halloween approaches, people have started to decorate their homes in preparation for trick or treaters and for parties that will be held this upcoming weekend (the last one before the holiday), but the industry is warning that there are certain risks involved and that homeowners insurance should be properly checked and understood before proceeding.

This way, it can help to avoid possible problems and misunderstandings with insurers.

It can also help homeowners insurance customers to better understand potential liabilities associated with these celebrations. Even hanging decorations outside your property that are designed to give visitors an amusing fright should be done with caution, say experts. The reason is that there are many risks that are often not considered and that grow into preventable problems.

halloween homeowners insuranceThere are a number of homeowners insurance risks connected with Halloween decorations and celebrations.

The homeowners insurance industry is warning about everything from hanging decorations to handing out candy. The reason that handing out candy can be associated with a risk – regardless of whether you’re doing it yourself or leaving it out for trick or treaters to help themselves – is that there can be liability issues associated with having people on your property, particularly if they should slip, trip, fall, or otherwise hurt themselves.
An unsuspecting person celebrating Halloween and handing out candy could easily find themselves the victim of a lawsuit if a person claims that they hurt themselves on your property because it was too dark, because the pathway was uneven, or for other reasons. Typically, in those cases, homeowners insurance coverage will actually pay for a policyholder’s defense – which many people don’t actually know.
However, it is important for home insurance customers to read and understand their policies because there is typically a limit to the amount of coverage that will be paid out. A small “no fault medical” claim may not be a problem, but for larger injuries or extensive lawsuits, even a large sum, such as $100,000 in coverage, may not be enough.
http://www.liveinsurancenews.com/homeowners-insurance-risk-warnings-halloween-celebrations-issued/8530206/

Protect Yourself: Professional Liability Insurance

 
Whatever your profession, protecting yourself with professional liability insurance is not just a smart thing to do, but a necessity in today's litigious society. You have worked hard and put in years of education and work to get where you are in your career. Without the right coverage for potential negligence suits, you could lose everything you have worked so hard to achieve.

What It Covers

General liability insurance can protect you from a wide variety of claims against you and your business, but will not protect you from the type of lawsuit that can result from the simple errors we are all capable of making. Nor will it protect you from claims made against you that are unfounded. Remember that even if there is no truth to the accusations against you, you can still find yourself in court defending yourself and your professional reputation against them at a very high cost to you.

Those who provide a service or advice, or in any other way use their knowledge and experience to help others are in need of professional liability insurance. This includes things like errors and omissions insurance and malpractice insurance, both of which are types of professional liability. The similarity is that the types of lawsuits brought against professionals are usually based on actions, advice, or services that may not have caused property damage or direct injury but nonetheless can in some way be shown to be a result of the negligence of the professional.

Don't Take Chances

You do your best to provide good advice, to make sure that everything you do and offer to your clients is as accurate and helpful as possible, but everyone makes mistakes. And even when you didn't make a mistake, all it takes is someone who is unhappy with the outcome to turn on you and put the blame at your feet. These lawsuits can cost professionals incredible amounts of money, even if you win. Having to pay out on such a lawsuit can easily bankrupt even the most well off professional.

Professional liability insurance provides you with the means to defend your good name in court against accusations as well as to pay out on settlements when you are found to be negligent. Without it, you could find yourself not only out a lot of money, but your reputation could be on the line because you are unable to fight an unfounded lawsuit. Don't take chances; protect everything you have worked so hard for with the right professional liability policy for your industry. Your insurance agent can help you to ensure you have the coverage you need to have complete peace of mind.

Wednesday, July 3, 2013

INDEPENDENCE DAY, JULY 4TH, 2013

INDEPENDENCE DAY, JULY 4TH, 2013

It's the middle of summer, and that makes this holiday the perfect time for a long, relaxing day of fun and frolic, topped off by a night of fireworks to commemorate the rocket's red glare back when our forefathers were fighting for their independence.

In the spirit of the day, I did a little checking about the history of Independence Day. Guess what? They didn't tell us the whole story in grade school! In case you're interested, read on to find out what I discovered:
The original resolution (to cut the apron strings from Mother Britain) was introduced to the Continental Congress on June 17, 1776.
Then Thomas Jefferson and a willing committee put their heads together to polish up a formal writing for the grand announcement.
The actual resolution was approved on July 2 but the Declaration of Independence (a separate document) was adopted on July 4, 1776.
It took days, weeks, and in one case, years before all the signatures on the Declaration were in place. Thomas McKean didn't get his signature on the page until 1781!
Exactly one year after the Declaration was approved, Philadelphia held a huge birthday party for the infant republic. But the first official (by legislative act) celebration was held in 1781 in Massachusetts.
OK, friends, class is over. Eat, drink, and be merry! Independence is worth celebrating!
 
 
 

Thursday, June 27, 2013

It's that time of year again! Cheerleading Fundraising for Elizabeth! Thanks for your help & consideration!

We are starting a Home Delivery Cookie Dough Fundraiser and we need your help. I will be handing out the sales brochure soon.
Elizabeth will be selling DELICIOUS COOKIE DOUGH from: 07-01 to 07-20-2013!

With your help this will be our best fundraiser yet.
If you would like to place an order please email
lauraliss4812@gmail.com and let me know how many tubs you would like. They are $16/each including shipping right to your door.

I need your name, address & phone#. I would also need payment PRIOR to submitting the orders. PayPal or Postal Mail would work just fine. We can iron out those details via email.
One we send all the orders in you will receive a GIFT CARD for the "dough" & you go online to pick out your flavors! It's shipped right to your door. That's easy right?
Thank you for your help.

Elizabeth, 7th Grade Sideline Cheer

It's about that time for all the Lilly's to start to bloom! Lovin' summer!

Friday, June 21, 2013

The Right Professional Liability Coverage For You

 

The world of professional liability coverage offers a wide variety of policies. For every profession there is a policy designed to protect you from the particular liability risks that are inherent in your area of expertise. When choosing your professional liability coverage, it is important to make certain it provides for the potential risks you face every time you offer advice, services, or assistance.

One of the best known types of professional liability coverage is medical malpractice insurance, designed specifically for the needs of medical professionals. Whether you are a pediatrician or a surgeon, every time you offer medical advice or perform a procedure you take the risk that an error on your part could leave you facing a lawsuit. Few doctors today deny the need for this coverage, and in many cases it is required when you work in a clinic, hospital, or other medical office.

Errors & Omissions coverage is a type of professional liability that is used by a wide variety of professionals including lawyers, brokers, PR Firms, insurance agents or REALTORS®, and many other types of consultants. It provides protection should you make an error in documentation, advice, or procedure that causes some sort of loss to a client. This coverage is right for anyone whose profession involves advising to people on their financial, legal, or similar decisions, and when preparation of legal documentation is involved.

Aside from these two common types of professional liability coverage, there are many others that can provide specific coverage suited to your profession. Contractors and others in the construction and related fields, accountants and financial advisors, even people working in certain areas of nonprofit organizations need to be protected with a professional liability policy. If you could potentially be sued for a mistake or omission that does not fall under the coverage in your general liability policy, you need to carry a professional liability policy to cover the gap.

The best way to determine what type of professional liability policy is right for you is to sit down with your insurance agent and discuss what is available and what is not covered by your current insurance policy. No matter how good you may be at what you do, it is an unfortunate fact that even an unfounded lawsuit can make it to court and damage you financially as well as hurt your reputation. Having the right coverage allows you to defend yourself and ensure a lawsuit won't leave you facing a financial disaster.
 
LET ME HELP YOU WITH YOUR PROFESSIONAL LIABILITY INSURANCE NEEDS.


Friday, May 24, 2013

How does the saying go? "Momma had a baby & his head popped off!"
 
Masen has discovered so any new things this year since the weather has warmed up. It is truly amazing what little sponges children are! Clouds, the sky, grass, bugs, trees... he points at everything asking what it is. God forbid it rains & we have to stay indoors. He just sits & points outside. Summer fun...I love it!
Property Coverage: Protecting The Nuts And Bolts Of Your Business

Whatever type of business you operate, you have important property that you rely on to get the job done. The physical property required by your business, from office equipment to manufacturing equipment, is vital to your operations and not easily replaceable. Think about how much it would cost you to replace everything your company uses each and every day to make your business run. Could you afford to start from scratch if everything were lost?

Covering Your Business Property

Property coverage is a vital part of your commercial insurance policy; it protects you against the loss of all of those items that represent a substantial investment in your business. It covers you for everything from the desk and chair you sit at to the computer equipment you need to keep up with business in the modern age.

Take a minute to do some mental calculations and figure out just how much you have spent gathering furniture and office equipment, as well as other equipment such as manufacturing systems that make it possible for you to stay in business. Chances are you didn't buy it all at once, and you might not be aware of just how much you have invested or what you stand to lose in case of a fire or other catastrophe. Without those things you could not continue to stay in business, and you would need to have a lot of cash on hand to replace them.

Building Coverage Isn't Always Property Coverage

If you lease or rent the space in which you do business, then someone else probably handles the coverage for the building itself. But their policy doesn't cover you at all; it exists to protect the owners of the property itself. The things that you keep inside your office, warehouse, or factory are not covered by this policy. You need to carry your own coverage to ensure that if something happens, your property would be replaced.

If you do own the building in which you do business, whether a commercial space or a business run out of your home, it is a dangerous assumption to think that your property is covered. Many commercial building coverage policies have minimal coverage for property, and a homeowner's policy doesn't cover business items. Don't assume you have coverage!

Protect your business from a potential disaster by getting property coverage to ensure that even after a fire or other catastrophic event, you will be able to replace everything and get back to business as soon as possible.

Tuesday, May 7, 2013

Do You Need A Commercial Auto Insurance Policy? Keeping Your Commercial Auto Policy Affordable...

If you run a business that requires the use of vehicles for company activities, you need a commercial auto insurance policy. Commercial insurance policies are designed to protect you against the wide variety of liability issues you face when you have employees on the road using your vehicles.

Without a commercial auto policy, if an accident were to occur, you and your company will be held accountable for property damage and injuries. Only a commercial policy can protect you and your business from financial disaster.

Whether your company has one car or a hundred delivery vans, there is a commercial policy that will suit your needs. You can obtain individual commercial policies for each vehicle used by the company, or choose a fleet policy if you have more than a few cars.

You have other insurance policies in place to protect your company from liability, fire, theft, and other potentially ruinous events. Commercial auto is the policy that will protect your company when you or your employees are on the road.
 
Insurance is one of the big expenses of running a business. Between coverage for your premises and products, liability and worker's comp, and the other coverage you might need specific to your company, it can add up fast. Commercial auto can be a big expense for a company with a large fleet of vehicles and drivers.
Fortunately, there are some steps you can take to keep your commercial auto policy affordable. First, take a look at what insurance companies consider when determining the rates. Much as with a personal auto policy, a commercial policy is rated based on several factors such as the type of vehicle being insured, the type and amount of use that vehicle gets, and the location where the vehicle is garaged. In addition to these factors is the driving record of the person who is being insured to drive the vehicle.
Consider what happens when you add a teenage driver to a personal auto policy: the rates go up because there is now a high risk driver using that car. When it comes to your commercial auto policy, you can keep rates under control by ensuring that your employees have good driving records-and keep them that way. Careful hiring practices for drivers in your company can avoid surprises on your insurance bill!
When you select vehicles as company cars, take into account things like the value of the vehicle, safety features, and the likelihood of theft. Cars with a high safety rating and low theft statistics will save you big on premiums. Choose vehicles that serve your needs without going overboard; luxury cars are a nice perk, but not a great choice for insurance costs.
Think about where you garage the vehicles. A safer area with a low crime rate can reduce your rates. You should also be sure to keep the vehicles secured with features like a fence or a garage if possible. The more effort you take to ensure the safety of the vehicles in your fleet, the lower your insurance rates will be. Your insurance company will be taking on a lower risk, and thus charge you less.
If your commercial auto rates are too high, it might be time to shop around for a new policy. Just as with your personal auto policy, you need to compare rates to find the best deal for your company. Smart choices combined with smart policy shopping can mean much better rates.

Monday, April 22, 2013

Insurance News - Commercial P/C Pricing Continued Upward Trend In 1Q

Insurance News - Commercial P/C Pricing Continued Upward Trend In 1Q
WASHINGTON
, April 18 -- The Council of Insurance Agents & Brokers issued the following news release: Commercial lines pricing took another bounce upwards in the first quarter of 2013, according to The Council of Insurance Agents & Brokers' quarterly Commercial P/C Market Index Survey. On average, pricing rose at a rate of 5.2 percent compared with 5 percent in the fourth quarter of 2012. "The first quarter was a tough market for underwriting and for commercial clients who were hit with higher prices," said The Council's President/CEO Ken A. Crerar. "Carriers backed off risky business, tightened underwriting and pressed for higher pricing and deductibles on renewals. The upshot is more business is moving into the alternative markets." One broker called it a "Jekyll and Hyde" market with carriers seeking rate increases on renewals while good, new business is still aggressive. Average First Quarter 2013 Commercial Rate Increases Continue The survey revealed a number of trouble spots. Workers' Compensation continued to be a hard line to place. Brokers across the country reported large price increases and in some areas capacity shrunk. A Midwest broker said some carriers had no appetite for the workers' compensation business at all. Another broker said workers' compensation was driving a lot of the underwriting decisions forcing business into mono-line or alternative markets. The survey also reflected an on-going "Superstorm Sandy" effect with tighter underwriting on property risks with CAT exposure on the eastern coast. A broker in the region reported that "Insurers pushed for higher deductibles for named windstorm and flood in the Northeast, especially for insureds with claims from Superstorm Sandy." Another noted that flood deductibles increased and carriers were lowering limits or excluding flood coverage. Meanwhile, the Midwest struggled with wind/hail deductibles, which were up one percent to two percent, according to a broker there. The Southeast also experienced higher deductibles, exclusions for wind/hail and tighter underwriting on commercial property in general. A few brokers reported a capacity problem with employment practices liability coverage. Reflecting what brokers experienced from coast to coast, a broker in the Southwest said "EPLI rates [were] up dramatically over the last six months, coverage is being restricted and retentions are increasing." There was good news. Fifty-two percent of those responding said demand for insurance was up. As for what kept them awake at night - the majority answered finding new talent and the federal deficit.

Thursday, April 18, 2013

Top 10 Questions to Ask when Shopping for Home Insurance

Top 10 Questions to Ask when Shopping for Home Insurance

Top Ten Questions To Ask When Shopping For Home Insurance

What are the most important home insurance concepts you should understand before purchasing a new home insurance policy? This article looks in-depth at the top ten questions you should get answered before buying or switching a home insurance policy. With answers to the top ten home insurance questions, you will be able to pick a home insurance provider that will provide you with the best coverage, strong financial stability, excellent customer service, and a very reasonable price.

What I Should Know Before Buying Home Insurance

If you are like millions of Americans out there, then to you insurance is a big black box. When it comes to home insurance, what are you covered for and what should you really be concerned about? To help you make the right decisions about home insurance, I've compiled a list of the top ten most important questions to get answered before you buy a home insurance policy. If you can get the answer to each of these 10 questions (and understand that answer), then you have armed yourself with all the knowledge you need to pick a home policy, or upgrade the one you currently have. So what are you waiting for? Read on!
  1. Is my home insured at actual cash value or replacement cost? A word to the wise; get a replacement cost policy. The main difference between actual cash value and replacement cost is that a replacement cost policy will make you whole after a claim with nothing more than your deductible out of pocket. Actual cash value factors depreciation into the amount you receive for a claim. What does this mean to you? Well, in addition to your deductible, you could be forking out hundreds to thousands of dollars to repair your home to the state it was in before the damage. A replacement cost policy doesn't factor depreciation into the equation, and thus will repair your home in its entirety regardless of age with only your deductible as your payout.
  2. Is my personal property insured at actual cash value or replacement cost? I have a close friend who got robbed in college. He had an actual cash value renter's policy. After his home insurance company factored in deprecation for his 52 inch TV, all his clothes, his laptop computer, and his leather couch, he received a check for ,000. Moral of the story? Pay the extra few bucks a year to make sure you will get full value on your stuff if something happens.
  3. What type of home policy is this? As you may already be aware, not all home insurance policies are created equal. In fact, there are five different tiers of home insurance policy you can buy. From the most basic coverage to the most extensive, the policy types are HO1, HO8, HO2, HO3, and HO5. My recommendation would be to stay away from the HO1 and HO8 policies, because you might be sorry later. A good solid policy is the HO3. It will protect your home from everything with a few minor exclusions, and will protect your personal property from the most common causes of loss.
  4. What endorsements, if any, are on the policy? Endorsements are add-ons that make your policy more bullet-proof. Examples of endorsements that can be added are residential glass coverage, water backup coverage, or additional coverage for electronics such as computers and LCD TVs. If you have any special add-ons, or want coverage that you're not sure is included, ask your agent or forever hold your peace.
  5. What is the company's AM Best rating? In an ever changing economy, I'm assuming you'd like to know that your current home insurance company is not going to be the next AIG. AM Best is an organization that rates insurance companies' financial stability. Although financial strength doesn't always tell the whole story, it's a good indicator of what claims and customer service might also be like.
  6. How can I be sure the home insurance company will provide great claims and customer service? This is probably the toughest question to answer, because there is no sure fire way of knowing exactly how a company will respond when you file a claim. The Better Business Bureau publishes complaint information on most reputable insurance companies, and this is what I would check first. Also, most state websites publish a customer complaint index on all insurance companies registered in the state. Search for your home insurance company to find out how they stack up against the competition.
  7. Have all discounts been applied that pertain to me? Lets face it. You are not a professional insurance agent, nor do you want to be. You don't have time to research whether or not every possible discount that could possibly be added has been put on your home policy. By asking your agent this simple question, it might cause her to rack her brain and find another discount you might qualify for. It's worth a try anyway.
  8. What is my deductible? The higher the deductible, the lower your premium, yet the more you have to pay if you file a claim. Are you more comfortable with a high deductible and low insurance payments, or the other way around? Decide what your comfort zone is, then get quotes based on what you prefer.
  9. Is there anything that could cause my home policy to cancel when they come to inspect the property? You want to make sure to ask this question in the beginning to avoid headache down the road. There are many things that could cause a policy to cancel shortly after it's written. Depending on the company and its underwriting guidelines, "cancelable offenses" could be vicious dogs, farm animals, unrepaired damage, missing roof shingles, trampolines, diving boards on pools, and much more.
  10. As my agent/insurance company, what hours are you available in case I need to contact you? Why do you have home insurance? Ok ok, because the mortgage company requires it. But home insurance is also there to protect you and make you whole if something happens. You need to make sure that your agent and/or insurance company is reliable and will be reachable by phone or in person when disaster strikes

DP1 Landlord Insurance Policy

DP1 Landlord Insurance Policy

DP1 Landlord Insurance Policy

The DP1 insurance policy is the most basic insurance policy available for rental properties in the United States. This policy is often referred to as Dwelling Fire Form 1, or DP-1 insurance. It provides very basic insurance coverage for rental properties.

DP1 Policy is Very Basic


In the United States, most landlords have three standard policy types available to insure their rental properties. The DP1 is the first, followed by the DP2 and the DP3. The DP1 policy offers the most basic coverage of all the rental property policies. It contains no bells and no whistles. The most common reason for a landlord to purchase this type of insurance would be to reduce the costs of insurance.

DP1 Insurance is Named Risk Insurance


The DP1 insurance policy is a named perils insurance policy. This means that all the perils that are insured are specifically listed (or named) in the policy itself. The insurance coverage is restricted to the perils that show up in the policy. The DP2 insurance policy is also named risk, although its list of perils is much more extensive than the DP1's list. The HO1 and HO2 insurance policies are the home insurance counterparts to the DP1 and DP2, and are also named peril policies.
Policies that are more extensive in coverage are actually referred to as open perils policies. The DP3 insurance policy is open perils, as are its home insurance counterparts the HO3 and HO5. Open perils policies insure against all perils, with the exception of a few exclusions specifically listed in the policy.

Common DP1 Named Perils


As referenced above, the DP1 policy only covers the perils listed in the policy. The following perils are the most common perils that are insured against with DP1 insurance:
  • Fire & Lightning
  • Internal Explosion & External Explosion
  • Windstorm & Hail
  • Riot & Civil Commotion
  • Smoke
  • Aircraft
  • Vehicles
  • Volcanic Explosion
  • Vandalism & Malicious Mischief
It is important to point out that not all DP1 insurance policies cover all of the perils listed above. For example, Vandalism & Malicious Mischief is an endorsement (add-on) with many DP1 insurance policies, and is not always automatically included. The above list is what the most common DP1 insurance policy will cover. Check with an agent before assuming all the above perils are covered.

DP1 Insurance is Actual Cash Value Insurance


Most DP1 insurance policies are Actual Cash Value (ACV) insurance policies. This is an important distinction that needs to be understood. An Actual Cash Value dwelling insurance policy is much like a car insurance policy; the older the dwelling gets, the less it is worth. If you are a landlord and your rental property is insured with Actual Cash Value, depreciation will be deducted from any damages you are awarded after a claim.
Let's say for example that a hailstorm rips the roof off of your rental property, and you need it replaced. If the roof is 15 years old, the materials originally used on the roof are very old, and aren't worth very much. If it cost you $10,000 to replace the roof 15 years ago, the insurance company may only give you $5,000 to replace the roof now, because the materials have depreciated by 50% (in this example).
The alternative to ACV insurance is Replacement Cost insurance, which will not deduct depreciation from the amount you can receive for a claim. Unfortunately, most DP1 policies will not allow you to insure your rental with replacement cost insurance.

DP1 Insurance & Price


The DP1 is typically the lowest cost landlord insurance policy on the market. If a landlord is looking for the cheapest policy she can find, it will typically be the DP1 policy. Every landlord should, however, do a cost-benefit analysis of each type of dwelling insurance policy to decide which policy is the best policy for their rental. Price, perils covered, and type of insurance (ACV vs. Replacement) should all factor into the insurance purchase decision.

Tuesday, April 9, 2013

Insurance News from Laura Liss- 2013 Commercial Rates Up 5%

Insurance News - March 2013 Commercial Rates Up 5%

Large Accounts Hit With Rate Increases
Based upon the composite results of commercial business placed across the United States in March 2013, placing accounts that command large premiums no longer assures the buyer of a more aggressive pricing strategy.
Richard Kerr, CEO of MarketScout confirmed the results noting, “Historically, underwriters have been very aggressive in pricing name brand or large accounts. Other than the cache or bragging rights, there are few sound underwriting reasons for aggressively pricing large accounts. Risk is risk and exposure is exposure. In March, underwriters more frequently assessed an appropriate premium for large accounts.”
Workers’ compensation, professional and small commercial all received more aggressive month-over-month price increases.
Manufacturing continues to post the largest rate increases as compared to prior year results followed by contracting, service, habitational, and transportation.
A summary of the March 2013 rates by coverage, industry class and account size is set forth below.
By Industry Class

Manufacturing
Up 7%
Contracting
Up 5%
Service
Up 5%
Habitational
Up 5%
Public Entity
Up 4%
Transportation
Up 5%
Energy
Up 4%
By Account Size
Small Accounts
Up 5%
Up to $25,000

Medium Accounts

Up 6%
$25,001 – $250,000
Large Accounts
Up 5%
$250,001 – $1 million

Jumbo Accounts
Up 5%
Over $1 million



Friday, April 5, 2013

Replacing Mommy Would Cost 'A Small Fortune'

Insurance News - Replacing Mommy Would Cost 'A Small Fortune'
As many as 43 percent of adult women have no life insurance, according to the Insurance Information Institute, citing a nationwide poll by wholesaleinsurance.net, an industry news and information resource. Among those women covered by life insurance many are severely underinsured, carrying only one-fourth of the amount that would likely be needed by their policies’ beneficiaries, the industry group said in a release. “Ironically, 100 years ago women weren’t even able to buy life insurance,” said Loretta Worters, vice president with the Insurance Information Institute, in a statement. “Today, women can protect their finances, but they aren’t buying the coverage or, if they are, it isn’t enough.” In the United States, women have made big economic strides over the past 30 years. Many now are more educated and often better paid than their spouses. Yet their life insurance coverage hasn’t kept up, the latest poll numbers indicate. Women who serve as the family’s primary breadwinner carry 31 percent less life insurance than their male counterparts, the survey also found. This despite the fact that in 2007, more than a quarter of wives were earning more than their husbands in dual-income households, and despite the fact that women as a group live longer than men. Replacing mommy would cost “a small fortune,” Worters said, particularly if she were underinsured by an inadequate life policy or lacked coverage altogether. “What would happen to the family if the mom weren’t around?” Worters asked. “Who would manage the day-to-day housekeeping, the laundry, driving kids to and from their sports activities?” Life policies have a variety of uses. They serve to replace income for children and other adults who are dependent on a breadwinner. The policies can also pay for the cost of funerals, burial, probate and estate administration. They can be used as an inheritance and increase charitable contribution limits due to their tax advantages. Life policies can also be used as tax-advantaged savings vehicles that build up cash value.

Insurance News - Mom's Finances Are Stretched Thin

Insurance News - Mom's Finances Are Stretched Thin

SPRINGFIELD, Mass.
, April 1, 2013 /PRNewswire/ --Moms feel they are doing it all: raising children, performing household chores and managing finances – and nearly eight in ten of these moms are juggling a job as well according to the 2010 U.S. Census. The reality is, doing it all perfectly may not be possible. Only 24 percent of moms surveyed are satisfied with their current financial situation and one quarter of moms admit they are struggling to make ends meet or are worried about their financial future. However, only one third of moms (32 percent) currently use the services of a financial professional to help them with their investments and/or insurance needs. Those are among the key findings from the nationwide State of the American Mom Study released today by Massachusetts Mutual Life Insurance Company (MassMutual). "It's no secret in today's world that moms are stretched thin, but their finances shouldn't have to suffer as a result," says Tara Reynolds, Corporate Vice President of Consumer and Product Marketing in MassMutual's Life Company Marketing division. "Luckily, finding an experienced financial professional for your finances can be easier than finding help for childcare or other things that cause stress for today's moms – and can make all the difference when it comes to achieving financial security for themselves and their families." When it comes to insurance, the data shows that moms may be putting their families in an especially vulnerable position. Forty-six percent of moms surveyed do not own disability income insurance and an even larger number (68 percent) do not own long-term care insurance – both key to help ensure financial stability for the long term.

Thursday, March 21, 2013

Life just isn't fair sometimes- Your world is what you make it...


300 pray, mourn at candlelight vigil for Southgate boy, 13, who committed suicide

About 300 students, staff and community members gathered tonight for a candlelight vigil to honor a 13-year-old Southgate boy who school officials said committed suicide in a bathroom of Davidson Middle School this morning.
The high school students who organized the event through Twitter thanked everyone for coming. There were prayers, and a poem, before balloons were released and candles raised.
“I pray that in their hard times, that we all turn to you, God,” said Brianna MacNeil, 17, a senior at Anderson who did not know the 13-year-old.
Several students said the boy was suffering from depression but hid it by being clever, funny, and nice to everyone he knew. His older sister was in attendance, thanking everyone through tears for their support.
“You guys are so awesome,” she said, holding a family portrait that included the 13-year-old, the family’s youngest. “This is so amazing.”
Jonae Mattison, 13, was in class when the school went into lockdown mode. She was with a group of students taken to the auditorium, and when she heard what had happened, she said, “I started crying immediately. He was smiling all the time.”

Boy left a suicide note behind

The boy shot himself once with a .40-caliber handgun at Davidson Middle School in Southgate around 8 a.m. -- stunning the community and leaving students, police and school officials looking for answers.
The student -- whose name was not released by school officials or police at a news conference held today -- was found by another student, according to an official with the school district.
He left behind a suicide note that was found after the teen was rushed to the hospital, where he later died, Southgate Director of Public Safety Thomas Coombs said.
It was written as an open letter explaining that by the time it was read, he would have killed himself, he said.
Coombs said the teen used the word “drama” to describe his life, but the student didn’t offer specifics on the issues he was apparently having trouble dealing with and said taking his life was a way out.
The gun, which was not locked, belonged to a family member and the teen knew where it was and took it, Coombs said.
The student told a teacher he had to use the restroom this morning and was the only one in the bathroom at the time of the shooting, police said.
Delaney, who lives in Wyandotte and said she talked to him on the phone often, had plans to go to a movie with him and a few other friends on Friday, she said. He never told her he was upset about anything.
“It didn’t seem like anything was wrong,” Delaney said. “Just to know that he is gone is really heartbreaking and shocking.”
Teachers were alerted after the shooting and the school was locked down. Students scurried to the corners of classrooms, ran down the hallways and were ushered to the gym. They were, eventually, released to parents and guardians.
As school leaders grapple with what happened, the shock and sadness has hit social media, where fellow students asked for people to pray for their classmate’s family.
“I wish you knew how much we all love and care about you,” one student said in a Twitter post.
“Just yesterday I hugged him,” another tweeted. “I remember what he wore & he looked so happy. Now he’s gone.”
Students described the harrowing scene at the school after the gunshot rang out and the school was locked down.
Kali Timmis, 13, said she went to the corner of her English classroom.
"Wrecked, they're wrecked," Timmis, in the eighth grade, said of her classmates as she left the school with her mother. "There's crying."
Karina Moise, 14, went to the gym with members of her Spanish class.
"We just kept seeing people running down the hallway," she said.
She described the victim as a friendly boy she knew from her lunch period.
"Happy for the most part; always laughing," she said. "He was really nice. He would offer to give you stuff (from his lunch)."
Classes won’t resume at the school until Monday when counselors will be present.
Southgate Community Schools Superintendent William Grusecki said the district doesn’t have any indication that the youth was being bullied and said he never went to staff to report any issues or problems.
“We don’t have a very good idea of what happened yet,” he said hours after the shooting.
Gruscki called the teen a very good student who was somewhat popular.
Police said they have talked with his friends and bullying has not been mentioned.
“We have no reason at this time to understand why,” Director of Public Safety Thomas Coombs said Thursday afternoon.
Relatives declined comment when contacted by the Free Press today.
Southgate Police Detective Sgt. David Fobar, the investigator in charge of the scene at the school, said the boy showed no signs of being suicidal.
“It was a normal day,” Fobar said. “Even the kids that drove him to school, no indication.”
Investigators have spoken to parents of the teen and plan to continue to investigate, Coombs said.
Educators immediately locked down the school at 15800 Trenton Road, with students in place in their classrooms as other employees ran toward the sound.
There are no metal detectors at the school, but school officials will examine whether changes need to be put in place over the next few days.
Students were not allowed to walk home and were released to parents and guardians from the school after a lockdown.
“Our prayers and thoughts are with this family,” Grusecki said.
Staff Writer Eric D. Lawrence contributed. http://www.freep.com/article/20130321/NEWS02/130321038/Police-Student-may-have-committed-suicide-at-Southgate-Middle-School

Wednesday, March 20, 2013

Guilty Thief Returns $800 From 1980s Michigan Burglary

HASTINGS, Mich. -- A burglar expressing guilt about stealing $800 from a western Michigan store three decades ago has repaid the money, plus some interest.
The anonymous thief sent a note and $1,200 in $100 bills to the Barry County sheriff's department in Hastings, and they arrived Monday, WOOD-TV reported (http://bit.ly/WzFNjS).
The writer admitted breaking into the Middle Mart on Michigan 37 in Thornapple Township north of Middleville about 30 years ago.
In a letter packed with emotion and spelling errors, the writer asks for "help in locating a man" to whom the writer owes the money.
"Anyways, I did a very bad thing that I am shamed of and have lived with this guilt," the writer said. "I can't begin to say how sorry iam but have lived with this guilt too long," the letter went on to say. "If you do find him, please tell him that I was afoolish stupid man when I did that and iam sorrie."
The letter was unsigned and had no return address.
The $1,200, while it includes some interest, falls short of making up for the loss in the dollar's purchasing power over the intervening years. The stolen $800 would be worth about $1,800 today, based on changes in the consumer price index.
WOOD-TV said the former owner of the store, now called Greg's Get-N-Go, confirmed it was broken into in the 1980s. The store was sold in 1988.
Undersheriff Bob Baker said the letter and cash came as quite a surprise.http://bit.ly/WzFNjS

Tuesday, March 19, 2013

Ensure Your Business Survives (Even If You Don’t)

If you are a business owner, the business you’ve built is your pride and joy, and most likely your source of income. So it’s critical to think about the future of your business—one that doesn’t include you.
You might think that if you die, your family could maintain their income by running the business themselves or by hiring someone to handle the day-to-day management. The fact is, your loved ones may not have the skills or the desire for the job, and your co-owners may not welcome the idea of an unintended partner.
That’s why a buy-sell agreement is important to consider. This is a legal agreement among owners to buy a deceased owner’s share of the business at a previously agreed upon price.
There are four ways to fund a buy-sell plan at an owner’s death. They include: 1. Cash method: The purchaser(s) could accumulate sufficient cash to buy the business interest at the owner’s death. Unfortunately, it could take many years to save the necessary funds, while the full amount may be needed in just a few months or years.
2. Installment method: The purchase price could be paid in installments after the owner’s death. For the purchaser(s), this could mean a drain on business income for years. In addition, payments to the surviving family would be dependent on future business performance after the owner’s death.
3. Loan method: Assuming that the new owner(s) could obtain a business loan, borrowing the purchase price requires that future business income be used to repay the loan PLUS interest.
4. Insured method: Only life insurance can guarantee that the cash needed to complete the sale will be available exactly when needed at the owner’s death, assuming that the business has been accurately valued.
With a properly structured buy-sell agreement funded with life insurance, your business partners won’t have to scramble to come up with the money to buy out your share of the business and you’ll be guaranteed that your survivors will be compensated fairly and promptly.
This issue is important enough that you should talk to your advisor today about how you can start the process to implement this important strategy.http://www.lifehappens.org/ensure-your-business-survives-even-if-you-dont/

Wednesday, March 13, 2013

III - Do I need professional liability insurance?

III - Do I need professional liability insurance?

Do I need professional liability insurance?

Professionals that operate their own businesses need professional liability insurance in addition to an in-home business or businessowners policy. This protects them against financial losses from lawsuits filed against them by their clients.

Professionals are expected to have extensive technical knowledge or training in their particular area of expertise. They are also expected to perform the services for which they were hired, according to the standards of conduct in their profession. If they fail to use the degree of skill expected of them, they can be held responsible in a court of law for any harm they cause to another person or business. When liability is limited to acts of negligence, professional liability insurance may be called "errors and omissions" liability.

Professional liability insurance is a specialty coverage. Professional liability coverage is not provided under homeowners endorsements, in-home business policies or businessowners policies (BOPs).

Friday, March 8, 2013

How do I find the right insurance agent? Look no further! Call me.

III - How do I find the right agent?

The first step in getting the proper coverage for your particular business is to find the right insurance agent or broker. Here are a few tips:
  1. Ask friends and acquaintances in the same kind of business about the agent they use.
  2. Ask the agent or company that provides your personal insurance for advice on the kind of insurance you need for your business.
  3. Contact business trade associations to see if they sponsor an insurance program designed specifically for your business or if they can provide a list of insurers who specialize in your field.
  4. Make sure the insurance agent you pick is knowledgeable about your business's insurance needs. Your agent can tell you what to do to reduce the likelihood of theft, injuries to visitors and workers, and other business-related losses.

Wednesday, February 27, 2013

III - How can I save money on my business insurance? CALL LAURA!

III - How can I save money on my business insurance?


Here are five ways to save money on business insurance:
  1. Shop around.
    Prices vary from company to company, so it pays to shop around. Get the names of companies or brokers who specialize in your type of business. Call several so that you can compare prices and get a feel for the types of services they would provide.

    It's also important to pick a company that is financially stable. Check the financial health of insurers with rating companies such as A.M. Best and Standard & Poor’s and consult consumer magazines.
  2. Choose a higher deductible.
    Deductibles represent the amount of money you pay before your insurance policy kicks in. The higher the deductible, the less you will pay for the policy.
  3. Buy a package policy.
    It can sometimes be cheaper to purchase a package policy, such as a Businessowners Policy (BOP), rather than individual coverages. A package policy provides standard coverages and limits of liability that are appropriate for typical small-to-medium-sized businesses.
  4. Work closely with your agent or broker.
    Your insurance professional can provide invaluable advice to help protect your business from unexpected disasters. But you need to keep him or her informed about any major changes in your business. This includes major purchases, expansions or changes in hiring or the nature of your operation. Also, get your agent's advice in terms of disaster planning. Ask what you can do to both reduce risks like fire or work-related accidents, as well as the procedures that should be in place in case your business does suffer a major catastrophe.

    Having the right coverage and a well thought out disaster plan can save you money in the long run. It may even save your business from going under.
  5. Ask about ways to prevent losses.
    You may be able to reduce your premium for certain coverages by following your insurer's recommendations. These can include workplace safety, disaster preparation, and human resource intervention.

Business Insurance Issues 

by Julia Forneris, Demand Media

http://smallbusiness.chron.com/business-insurance-issues-2947.html
Business insurance serves to protect the business, business owner and in some cases employees. The protection may come in the form of financial aid to repair a business following a disaster or to supplement income lost during the period of restoration. Insurance such as workers' compensation protects the company from lawsuits and provides financial compensation to an employee injured on the job. Concerns or disagreements can arise between and insured and the insurance company.

Insufficient Coverage

While standard policies may adequately cover many businesses, certain industries benefit from additional or specialty business insurance coverage. Business owners should consult with an insurance broker to ensure they have sufficient coverage in their policies. The Insurance Information Institute cites a case in which a dry cleaner did not have enough coverage in its standard business owner’s policy to handle a lawsuit seeking $54 million. Had the dry cleaner lost the lawsuit, it could quickly have gone bankrupt. The institute warns that "no business can afford to be unprepared for a lawsuit." Preventing such a scenario might require purchasing additional policies or adding on to a current one.

Expense

If a business has employees, the employer by law must purchase certain types of insurance, such as workers’ compensation. Starting and running a business can be an expensive venture, and purchasing insurance can add to the costs. Business owners can take some steps to ensure they get the most for their money and save where they can. Aside from helping to determine the necessary coverage, insurance brokers also aid in shopping around to find the best price. Before working with a broker, do your own shopping around; the institute recommends you find the names of companies or brokers who specialize in your type of business. You can also save on your policy by electing to pay a higher deductible should you file a claim, which will lower what you pay in premiums.

Claims

Business owners have insurance to protect their assets, and filing a claim is sometimes necessary to restore the company after a loss. Claims can also bring about some points of contention. For example, your claim may be denied, or you may feel as though you did not receive enough compensation for your loss. Remember that the job of the insurance company is to compensate you according to your policy. To minimize disagreements over claims, be prepared with your own research and records. The institute suggests that business owners record business activity and the extra expenses of keeping your business operating in a temporary location during any period of disruption. If you cannot resolve your issue with the adjuster, you can speak with the manager of the customer service department. If these measures fail, you can talk to the state department of insurance or as a las

Monday, February 25, 2013

How to Protect Your Home From Water Damage

III - How to Protect Your Home From Water Damage

Water damage is one of the most common and costly disasters affecting U.S. residences, accounting for billions of dollars in losses to homeowners and renters annually. However, consumers can protect themselves with the right amount and type of insurance coverage
Standard homeowners and renters insurance provides coverage for burst pipes, wind driven rain and damage resulting from ice dams on your roof. Some policies cover sewer and drain backups, but many do not; however, you can purchase a sewer backup rider to a homeowners or renters policy for approximately an additional $50 each year, with the policy limits varying depending upon the insurer.
Generally speaking, water that comes from the top down, such as rainfall, is covered by a standard homeowners insurance policy, while water that comes from the bottom up, such as an overflowing river, is covered by a separate flood insurance policy. Flood insurance can be purchased from the federal government’s National Flood Insurance Program (NFIP), and from some private insurers.....
Click link for entire article...

5 Insurance Lessons from "Downton Abbey" | PropertyCasualty360

5 Insurance Lessons from "Downton Abbey" | PropertyCasualty360

Friday, February 22, 2013

Forget the toys!

Is it any wonder why kids would rather play with cords, outlets & pots n pans instead of their flashy, musical toys??? It drives me insane! #kidsplayingwithcrap
Peace Be With You, Laura

Thursday, February 21, 2013

New beginnings!

Alright- so a I'm totally a newbie at this blogging thing so bear with me...I HAVE NO IDEA WHAT I'M DOING...
I wanted to start a blog several months ago but with being a new mom & working full-time; it didn't really give me the opportunity to dedicate much time to launching a blog so I decided to try again later.
Well, that time is now! So many new and exciting events have happened recently & I thought to myself... "Laura, it's time you get to blogging and share your thoughts..."
Not that I think anyone will really read this or give a crap LOL
I don't care.
I think this is a fun way to express yourself- an outlet for expression that I completely have control of. Yay for me. More to come. I know you're on pins & needles wondering what will I'll post next...

Peace, Love & Margaritas,
 Laura

P.S. Look at my favorite little turd... ISN'T HE HANDSOME?!!  Masen (2/19/13 @10 months)