Keeping in mind that there are many types of coverage and each individual consumer will have different specific insurance needs, there may be several reasons to consider consolidating your various policies with a single carrier. For most people, the pros of consolidation usually outweigh the cons, but here are some points from both sides:
Cost. Consumers often find there’s a cost benefit in consolidating their coverage with a single carrier. While the exact number will vary from company to company, it’s very possible to save 15% or more. Specialist companies still exist, but many generalist insurers have diversified their product lines to include an array of business and personal insurance and financial products. Since an insurance carrier is gaining customer loyalty and reducing their marketing costs when an existing customer purchases additional products, they’re usually willing to pass a portion of their savings on to their consumers.
Gaps. Depending on the types of coverage you’ve purchased and your unique situation, certain coverage gaps could be reduced when you consolidate your insurance portfolio. Take purchasing General and Professional Liability through the same carrier as an example. An accountant, for example, would have little risk of their professional services leading to property damage or bodily injury, but a travel agent, for example, routinely makes professional recommendations that could have physical consequences for their clients. The travel agent might be unaware that a lodging they recommend to a client is undergoing renovations. The client slips and falls due to unsafe conditions and sues the travel agent for not knowing the condition of the lodging before recommending it. If the travel agent has General and Professional Liability through two different carriers, then he/she may find the two carriers pointing the finger in opposite directions and disclaiming coverage. Whereas, if the travel agent has both coverages under the same carrier, then the disclaiming concern is moot since there isn’t another company to point the finger at.
Tailoring. Many carriers have learned to anticipate the common problems associated with coverage gaps, such as in the example discussed above. These carriers have created tailored packaged policies or programs with multiple different coverage options. These options interlock, but don’t unnecessarily duplicate coverage or dangerously leave gaps between coverages. Umbrella policies perform best when written by the carrier of your primary coverage(s).
Cons. As with most everything in life, there are cons to consolidation. It’s important that you look at the financial strength of the insurance carrier. If an insurance carrier is poorly rated by any of the rating services that monitor insurers, then the increased risk of going with an insurer that has questionable financial strength might outweigh any of the cost, gap, and tailoring pros. Another con is that the insurer might quickly change their hunger for a certain product and leave you having to find replacements for multiple policies. Research the company’s track record – have they typically stuck it out during bad and good times or have they timed the market to make a quick dollar and exit? Although most generalist insurers have diversified their offerings, it’s possible to miss out on some coverage benefits still only being offered by specialists.
In closing, consider the above points and how each could or wouldn’t meet your needs. In most cases, you’ll find that coverage consolidation and the right carrier creates a winning scenario for all parties involved.
Content provided by Transformer Marketing.
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This year, many parts of the country have enjoyed such a mild winter that even in the Northeast, spring weather seems like it’s just around the corner—if it hasn’t arrived already.
Take advantage of the moderate temperatures to get a head start on what should be an annual spring home maintenance routine.
EXTERIOR INSPECTION
“It’s good to do a walk-around of your property, especially after a storm,” says Curtis S. Niles, Sr., owner of Armored Home Inspections, Upper Darby, PA, and president of the National Association of Home Inspectors (NAHI). “Winter is tough on roofs and chimneys.” It can also take its toll on windows, walls, foundations, gutters and decks.
Roof. You don’t need to climb up there yourself; with binoculars and a keen eye, you can probably spot trouble. Do you see any shingle-shift, suggesting that some fasteners may have failed and need replacing? Any cracked or missing shingles? What about nail-pops? “We call them eyebrows,” Niles explains. “It’s when nails push the tabs of the shingles up, allowing water to get in where those nails are coming through.” All will need to be addressed to keep your roof at peak performance.
Chimneys. If you have a masonry chimney, check the joints between bricks or stones. Have any fallen out? Is there vegetation growing out of them? Each signals water infiltration. Also, look for efflorescence—”a white calcium-like deposit that indicates your masonry joints are no longer repelling water but absorbing it,” says Niles. Consider re-sealing masonry with a clear, impermeable or water-resistant barrier material (like Thoroseal products). Brush it on, small areas at a time; let it absorb for 15 minutes, then reapply—it may need a couple of applications.
Exterior Walls. Whether you have wood siding, stucco or brick, look for trouble spots, especially under eaves and near gutter downspouts. Water stains normally indicate that your gutters are not adequately containing roof runoff. If you have wood siding, check for openings, damaged areas or knots that have popped out, making way for carpenter ants, woodpeckers and other critters that may nest in or burrow through.
Foundations. When inspecting the exterior of your home, be sure to examine the foundation from top to bottom for masonry cracks. “Routine caulking by homeowners won’t do the job,” says Niles. “Hire a foundation specialist who can employ a two-part epoxy injection system that will bond cracks chemically,” he adds.
Windows. Leakage around windows will admit warm summer air and let cooled indoor air escape, so be sure to check that any caulking and weather stripping you have in place has remained intact. “A tight seal is the first line of defense against air and water,” says Marty Davis, marketing manager, Simonton Windows, Columbus, OH. If you experienced condensation inside the glass on double- or triple-glazed windows during the winter months, the weather seal has been compromised, and either the glass or the window will need to be replaced.
Spring-clean your windows—inside and out—with a store-bought or homemade window cleaner (one cup rubbing alcohol, one cup water and a tablespoon of white wine vinegar will work just fine) and either a squeegee or a soft cloth. Never use abrasive cleaners or a high-pressure spray washer. You don’t want to scratch the glass or crack the caulking around each unit. If screens were on all winter, remove and clean them with mild detergent. Lay them on a dry surface, like a driveway to air-dry before putting them back on. “Never power-wash screens,” urges Davis, “it could damage the mesh.”
Read the entire article here.
Content provided by http://www.bobvila.com/articles/2355-spring-home-maintenance-checklist/
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Three Live Oak women and a dog were displaced from their house on the 300 block of Seventh Avenue after a Tuesday night fire destroyed part of a garage and damaged the rest of the home with smoke. Shortly before 10 p.m., one of the residents at the home walked into the garage and found it full of smoke and on fire, said Mike DeMars, fire inspector for Central Fire. A housemate walked in after smelling smoke and found the first woman standing frozen in the smoke-filled room, DeMars said. “(The first woman) was a bit overwhelmed,” DeMars said. After calling 911, the two women told a third housemate to leave the house. Central Fire and Santa Cruz Fire arrived on scene to extinguish the fire, which was in one corner of the garage and spreading to the ceiling, DeMars said. Firefighters extinguished the flames within 10 minutes. The garage, which was attached to the two-story home, had been converted to a living space where one of the women lived, DeMars said. Investigators said the fire was accidental and traced the cause to combustible materials, including a bookcase, that were placed too close to a water heater in the garage, DeMars said. The woman who first discovered the fire may have suffered smoke inhalation but declined treatment, DeMars said. There were no other reported injuries. The home was declared uninhabitable, with fire damage to the garage and smoke damage to the rest of the two-story home. The women and dog were relocated with the help of the American Red Cross Santa Cruz County. DeMars noted that the home did not appear to have any smoke detectors, which could have notified the residents of the fire. Content provided by http://www.santacruzsentinel.com/copsandcourts/ci_25625610/cops-and-courts-april-24-2014-three-women Don’t let this happen to you. Make sure you have working smoke detectors in centralized locations throughout the house. Contact Scurich Insurance Services today to make sure that you are completely covered in the event of a fire.
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When you think of insurance, the typical ones come up. Auto insurance, health insurance, homeowners insurance and business insurance. Some people may have even heard of umbrella insurance, flood insurance, farm insurance and so on.
But we want to share with you about some of the more uncommon types of insurance that are out there.
- Cold Feet Insurance. That’s right. If your spouse-to-be happens to get cold feet right before the big day, reimbursement could be in order. However, there are some conditions: The change of heart has to happen a full year before the wedding and the reimbursement will be sent to a third party (such as parents).
- Fantasy Football Insurance. Football lovers all over are excited about this one! FantasyPlayerProtect.com allows fantasy players to insure their teammates.
- Multiple Birth Insurance. Oh boy, a bundle of joy is coming your way! And then you find out you’re having 3 bundles of joy! The insurance will pay out a lump sum to parents who were expecting 1 bundle of joy. The condition is that you did not use a fertility treatment.
- Divorce Insurance. Splitting up assets and debts and adding legal expenses to the mix, divorce can get costly. Divorce insurance will help with a payout in case of divorce.
- Chicken Insurance. Yes, you heard me correct. Pet insurance has been popular for all of the dog and cat lovers for years, but now some insurance companies have included the not-so-common pets such as chickens and mice.
- Kidnapping Insurance. For companies who have overseas employees to people who travel to third world countries, kidnapping insurance is there to help cover the costs associated with kidnapping, including negotiators fees, travel expenses and the ransom itself.
- Drunk Guest Insurance. For everyone who loves to entertain at your home, this one’s for you! The formal name is social host liquor liability coverage and this will provide coverage for an intoxicated guest who destroys property or harms another person. Most homeowners insurance policies have something like this in the policy.
- Infertility Insurance. You really want to have a baby and in-vitro is a viable option. The costs of fertility treatments can be excessive. Infertility Insurance will help you out with your dream, but only if you live in one of the fifteen states that offer this special insurance.
- Golf Insurance. This kind of insurance is popular throughout Asia and Europe.
- Bedbug Insurance. Typical homeowners and renters insurance won’t cover the costs associated with a bedbug infestation, which can add up to the $1,000s. Most bedbug infestations occur during travel, so when you sign up for travel insurance, make sure you have a bedbug rider.
Scurich Insurance Services can help you out with many types of insurance policies. Give us a call today!
Content provided by Transformer Marketing and http://money.msn.com/insurance/10-crazy-insurance-policies-you-didnt-know-existed
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You’ve spent hours, days or even weeks, making your jewelry choices — not to mention paying thousands of dollars on your final purchase — so why fall short when it comes to finding the right coverage for your jewels? Getting the appropriate protection is easy; you just need to understand what your Homeowners insurance will cover.
The standard HO-3 policy provides only $1,000 worth of coverage for jewelry for THEFT ONLY. For example, if your $6,500 engagement ring, a pair of $500 earrings ,and a $1,000 class ring WERE STOLEN, you would receive a reimbursement of only $1,000, not the actual value of $8,000. So be sure you’re protected by extra insurance. The cost is minimal compared to the risk of losing expensive jewelry and being unable to replace it.
You might consider a stand-alone policy that offers broader coverage than the typical Homeowners policy. For instance, an ALL PERILS policy and covers “mysterious disappearance” (when you lose jewelry and have no clue where it went); and “pairs and sets” (which buys you a new set of earrings even if you lost only one). You can also schedule your jewelry on any homeowner policy.
Keep in mind, your insurance company will require you to have a professional appraisal to set an objective value for your scheduled property, which might be significantly higher or lower than what you think it’s worth!
For more information on insuring your valued jewelry, please feel free to get in touch with Scurich Insurance Services.
Content provided by Transformer Marketing.
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If you’ve been to our office, chances are. Mary Myrick-Sunkler, CISR, CPIW is a central California coast native. Mary has been in the insurance business since 1988 giving her 26 years of experience. Mary has worked with Scurich Insurance Services for 15 of those years, starting in 1998.
Mary graduated from Monterey High School and went onto graduate from Monterey Peninsula College. Mary is a member of the Insurance Professionals of Monterey Bay which is a local chapter of National Association of Insurance Women.
In Mary’s spare time, she is an avid walker, loves bicycling, gardening, camping and cooking.
Stop by our office to say, “Hi,” to Mary today.
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Keeping in mind that there are many types of coverage and each individual consumer will have different specific insurance needs, there may be several reasons to consider consolidating your various policies with a single carrier. For most people, the pros of consolidation usually outweigh the cons, but here are some points from both sides:
