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Here are 9 Flood Insurance Tips

4/30/2020

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  1. National Flood Insurance Program (NFIP) coverage caps result in a high percentage of homes being underinsured, as the NFIP only covers up to $250,000 for a home and $100,000 for a home’s contents. In many states, the average home construction cost is well above this number and, as a result, many homeowners are stunned when they learn their insurance did not cover their full loss.
  2. Insure your home to the amount it would cost to rebuild it. Most people significantly underestimate this number, and a quick Google search will find sites such as the National Association of Home Builders, where you can get a reliable estimate for your home type in your area.
  3. Inventory your belongings and choose contents coverage that meets the value of your possessions. In the middle of a pandemic is when many people have some free time to do a home inventory. It takes only a free hours with the assistance of applications, such as Blue Plum, Sortly, Nest Egg and MyStuff, to name a few.
  4. Choose replacement cost coverage. It costs more, but no one wants to replace their 8-year-old couch with an 8-year-old couch. It provides great peace of mind to know that if you do lose belongings in a flood event, at least you will be able to but like-quality new products to replace them.
  5. Get Temporary Living Expense (TLE, or sometimes called ALE) coverage. This covers hotels, meals, and some other expenses while your home is unlivable. This is the most common “gotcha” when it comes to a flood catastrophe, as these costs are excessive in the midst of an evacuation, and few people plan for this in advance.
  6. Get coverage for your external – or “unattached” in policy language – structures, such as a detached garage, pools, sheds or other outbuildings.
  7. Manage your cost with your deductible. Higher deductibles usually equate to lower premium, but higher out-of-pocket expenses in a loss. Lower deductibles will result in a higher premium but the knowledge that your out-of-pocket expense will be modest.
  8. Consider private flood insurance as an alternative to the NFIP. The NFIP does not cover any of the additional coverages listed above, so to be fully covered, homeowners should secure a private insurance quote as a comparison to their NFIP policy or quote. There are private flood providers in all 50 states and District of Columbia, backed by some of the largest and most secure reinsurers in the world. Often you can get more coverage – along with useful optional coverages – and still save money when compared to the NFIP.
  9. Last but not least, read your policy. It’s not a riveting read but knowing what is in your policy, and therefore what you are covered for, is critical when you face a loss event. Our agency stands ready to help you understand your policy. You can do it from the comfort of your home.
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​Los accidentes suceden: tome medidas para protegerse, proteger su propiedad y su identidad

4/27/2020

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En un accidente automovilístico, le preocupa primero su seguridad y, en segundo lugar, su vehículo. Probablemente, lo último que tienes en mente es proteger tu identidad. De hecho, una encuesta reciente de la Asociación Nacional de Comisionados de Seguros (NAIC, por sus siglas en inglés) sugiere que, después de un accidente, muchos estadounidenses realmente no saben qué información deberían compartir con el otro conductor.
Las leyes estatales varían, pero en la mayoría de los casos solo necesita proporcionar su nombre y la información del seguro del vehículo, que debe incluir el nombre y el número de teléfono de su proveedor de seguros. Compartir información personal como su dirección y número de teléfono puede poner en riesgo su privacidad e identidad. Sin embargo, si otro conductor no puede proporcionar la propiedad del vehículo y / o la información del seguro, es apropiado solicitar su número de teléfono, dirección y número de licencia de conducir.
Nuestra oficina estará encantada de darle más consejos y una revisión gratuita y sin compromiso de todas sus necesidades de seguro.
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​Accidents Happen:  Take steps to protect yourself, your property and your identity

4/27/2020

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In an automobile accident, you are concerned first about your safety and secondly about your vehicle. Likely, the last thing on your mind is protecting your identity. In fact, a recent survey by the National Association of Insurance Commissioners (NAIC) suggests that, after an accident, many Americans do not really know what information they should share with the other driver.
State laws vary, but in most cases you need only provide your name and vehicle insurance information, which should include the name and phone number of your insurance provider. Sharing personal information such as your address and phone number may put your privacy and identity at risk. However, if another driver is unable to provide vehicle ownership and/or insurance information it is appropriate to ask for their phone number, address and driver's license number.
Our office will be glad to give you more tips and a free no-obligation review of all your insurance needs.
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Gestión de accidentes automovilísticos en un mundo COVID-19

4/22/2020

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​El tráfico pronto comenzará a aumentar a medida que se afloje la restricción de refugio en el lugar. Póngase en contacto con nuestra agencia para obtener un seguro de auto antes de salir a la carretera. La mayoría de las transacciones se pueden hacer por teléfono, por correo electrónico y firmas electrónicas desde la comodidad de su hogar sin tener que visitar nuestra oficina.
Nuestra agencia es única porque no se limita a un solo tipo de proveedor de seguros, sino que ofrece a los clientes las mejores ofertas de muchas compañías de seguros diferentes. De esta forma, los clientes tienen acceso a ofertas de múltiples operadores, todo en un solo lugar.
¡Entonces, permítenos buscarte gratis! Llame a nuestra oficina para obtener una cotización rápida o visite nuestro sitio web para todas sus necesidades de seguro.
Si bien la educación y la preparación pueden ayudar, aún ocurren accidentes. En caso de un accidente automovilístico, asegúrese de que todos sepan qué pasos tomar para mantenerse a salvo y proteger su identidad. La aplicación gratuita WreckCheck de NAIC para iPhone® y Android® le guía sobre qué hacer, y qué no hacer, después de un accidente. La aplicación ayuda a los usuarios a recopilar la información necesaria en el acto, luego envía un informe por correo electrónico inmediatamente a su hogar y a su agente de seguros.
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​Managing Auto Accidents in a COVID-19 World

4/22/2020

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Traffic will soon begin to increase as shelter-in-place restriction get loosened. Contact our agency to secure auto insurance before hitting the road. Most transactions can be done over the phone, via e-mail and e-signatures from the comfort of your home without having to visit our office.

Our agency is unique because it does not simply stick to one kind of insurance provider but brings the clients the best deals from many different insurance carriers. In this way, clients have access to offers from multiple carriers all in one place.
So, let us do the searching for you for free! Call our office for a Quick Quote or visit our website for all your insurance needs.
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While education and preparation can help, accidents still happen. In the event of an auto accident, make sure everyone knows what steps to take to stay safe and protect their identity. NAIC's free WreckCheck app for iPhone® and Android® walks you through what to do — and not do — after an accident. The app helps users collect necessary information on the spot, then immediately email a report to your home and your insurance agent.
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​Cómo proteger tu auto clásico

4/20/2020

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Según el tipo de automóvil que posea y su historial de manejo (multas y accidentes), es probable que esté asegurado en el mercado de automóviles estándar o preferido. Ambos mercados cubren vehículos y operadores típicos. Esto permite a las compañías de seguros utilizar un conjunto cómodo de supuestos sobre las pérdidas esperadas y los gastos de reparación para desarrollar las primas de seguros. Sin embargo, la propiedad de un automóvil clásico o antiguo lo coloca en una situación de cobertura especial.
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Los autos clásicos y antiguos pueden tener que estar cubiertos por un mercado especializado. Un auto clásico se considera comúnmente como un auto de alrededor de 15 a 25 años de edad; mientras que las antigüedades son mayores de 25 años. La cobertura especializada es necesaria porque las tasas de cobertura automática estándar se basan en la pérdida de valor de un automóvil cada año debido al envejecimiento y al uso normal del vehículo. El propietario de un automóvil clásico o antiguo necesita cobertura para un vehículo que retiene o aumenta su valor.
Las aseguradoras de automóviles especializados suelen basar sus tarifas en elementos tales como:
  • El valor actual del automóvil (a menudo establecido por tasación)
  • cualquier diseño especial o características
  • deducible
  • uso (exposición, gira, desfile)
  • disponibilidad de almacenamiento en un garaje cerrado
  • edad del propietario (no conductores jóvenes)
  • si se incluye cobertura de repuestos
  • disponibilidad de otro automóvil para uso normal del vehículo
  • si la cobertura del automóvil incluye aumentos automáticos para tener en cuenta la inflación
Si tiene un auto especial, hable con uno de nuestros profesionales de seguros para obtener asesoramiento. Compartimos su preocupación por tener el tipo correcto de cobertura.
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How to Protect Your Classic Car

4/20/2020

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Depending on the type of car you own and your driving history (tickets and accidents), you are likely insured in the standard or preferred auto market. Both markets cover typical vehicles and operators. This allows insurance companies to use a comfortable set of assumptions about expected losses and repair expenses for developing insurance premiums. However, ownership of a classic or antique auto puts you in a special coverage situation.

Classic and antique cars may have to be covered by a specialty market. A classic auto is commonly considered to be an auto around 15 to 25 years old; while antiques are older than 25 years. Specialty coverage is necessary because standard auto coverage rates are based upon a car losing value each year due to aging and normal vehicle use. The owner of a classic or antique car needs coverage for a vehicle that retains or increases its value.
Specialty car insurers typically base their rates on elements such as:
  • the car's current value (often established by appraisal)
  • any special design or features
  • deductible
  • use (exhibition, touring, parade)
  • availability of storage in a locked garage
  • owner's age (no youthful drivers)
  • whether spare part coverage is included
  • availability of another car for normal vehicle use
  • whether the car's coverage includes automatic increases to account for inflation
If you have a special auto, talk to one of our insurance professionals for advice. We share your concern for having the right type of coverage.
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​Get Your Motor Running, Head Out on the Highway

4/16/2020

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Spring is a great time of year to enjoy a ride on your motorcycle.
It’s also a great time to check out your insurance needs
Choosing the right insurance policy is much like choosing the right motorcycle. You want it to fit your needs and lifestyle, but at the same time be within your budget. Our agency can help you in choosing the right insurance policy for you.
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​Ponga en marcha su motor, salga a la carretera

4/16/2020

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La primavera es una gran época del año para disfrutar de un paseo en motocicleta.
También es un buen momento para consultar sus necesidades de seguro.
Elegir la póliza de seguro adecuada es muy similar a elegir la motocicleta adecuada. Desea que se ajuste a sus necesidades y estilo de vida, pero al mismo tiempo esté dentro de su presupuesto. Nuestra agencia puede ayudarlo a elegir la póliza de seguro adecuada para usted.
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​Homeowner's & Renter's Insurance policies do not cover flood damage

4/14/2020

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  • Doesn't my homeowner’s insurance policy cover flooding? No. Flood damage is not typically covered by a homeowner’s insurance policy.
  • If my home is flooded, won't federal disaster assistance pay for my damages? Not necessarily. Federal disaster assistance typically comes in the form of a low interest loan to help cover flood damage, not compensation for your losses. Even then, those loans are only available if the president formally declares a disaster and must be repaid along with any existing mortgage.
  • Am I eligible for flood insurance? You must live in a community that participates in the National Flood Insurance Program (NFIP) to qualify for National Flood Insurance. Find out if your community participates in the NFIP and the kinds of NFIP resources available in your community by contacting our insurance agency.
  • Can I get flood insurance if I'm renting a property? If you live in a community that participates in the NFIP, you can get flood insurance to cover the contents of your home or business.
  • I live in a low-risk flood zone. Do I really need flood insurance? Most likely, yes. It's a good idea to buy flood insurance even if you live in a moderate- or low-risk area. Anyone can be financially vulnerable to floods. People outside of high-risk areas file over 20% of NFIP claims and receive one-third of disaster assistance for flooding. When it's available, disaster assistance is typically a loan you must repay with interest. You may qualify for the Preferred Risk Policy (a lower-cost flood insurance policy) that provides contents coverage beginning at $49 per year and building plus contents coverage beginning at $129 a year.
  • Why do I need flood insurance, even though my community has never been flooded? Flooding occurs in moderate-to-low risk areas as well as in high-risk areas. Poor drainage systems, rapid accumulation of rainfall, snowmelt, and broken water mains can all result in flood. Properties on a hillside can be damaged by mudflow, a covered peril under the Standard Flood Insurance Policy. Structures located in high-risk flood areas have a significant chance (26 percent) of suffering flood damage during the term of a 30-year mortgage. In a high-risk area, your home is more than twice as likely to be damaged by a flood than by fire. For these reasons, flood insurance is required by law for buildings in high-risk flood areas as a condition of receiving a mortgage from a federally regulated or insured lender.
  • Why does my mortgage lender require me to buy flood insurance? Under federal law, the purchase of flood insurance is mandatory for all federal or federally related financial assistance for the acquisition and/or construction of buildings in high-risk flood areas (Special Flood Hazard Areas or SFHAs).
  • The amount of flood insurance coverage required by the Flood Disaster Protection Act of 1973, as amended by the National Flood Insurance Reform Act of 1994, is the lesser of the following:
  • The maximum amount of NFIP coverage available for the particular property type,
  • The insurable value of the structure.
  • If the property is not in a high-risk area, but instead in a moderate-to-low risk area, federal law does not require flood insurance; however, a lender can still require it. It is also recommended since historically one-in-five claims come from these moderate-to-low areas. Note that if during the life of the loan the maps are revised and the property is now in the high-risk area, your lender will notify you that you must purchase flood insurance.
  • Is there a low-cost policy for homes in moderate-to-low risk areas? Yes. The Preferred Risk Policy is available in moderate-to-low risk areas for as little as $129 per year.
  • I'm not in a high-risk area, but I'd like flood coverage. Is this possible? Yes! You are eligible to purchase a flood policy with the same coverage you would receive if you lived in a high-risk area. That is, of course, as long as your community participates in the NFIP. And you may qualify for the Preferred Risk Policy (a low-cost flood insurance policy) that provides contents coverage for as little as $49 per year and for as little as $129 per year for both building and contents coverage.
  • I live in a high-risk risk area. After my home was damaged in a flood, I received federal disaster assistance. Do I need to purchase flood insurance now? Yes. If you live in an SFHA and have received disaster assistance in the form of a federal grant or loan, you must cover the building for flood insurance for as long as you own it. Should you sell the building, you are required to inform the new owner of the necessity to purchase and maintain flood insurance. Failure to carry flood insurance could result in the denial of future federal disaster assistance.
  • Who do I contact if I want to purchase a flood insurance policy? The National Flood Insurance Program has an arrangement with private insurance companies to sell and service flood insurance policies. Ask our insurance agency to see what NFIP flood insurance policies are available to you.
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