California – 3rd Highest Homeowners’ Insurance

According to Property Casualty 360, California is the third highest state for homeowners’ insurance costs in the Nation. The median homeowners’ insurance policy is $1,678 a year.

Insurance costs vary widely depending on the risk and the location. California is no exception to this. Areas vary from rural farm, to mountain towns, to large cities, and beach front property.

 

If you want to see a list of the highest and lowest homeowners’ insurance rates by State, check out:

http://www.propertycasualty360.com/2017/02/22/10-states-with-the-highest-and-lowest-homeowners-i?eNL=58adabd9160ba0364354867f&utm_source=PC360_NewsFlash&utm_medium=EMC-Email_editorial&utm_campaign=02222017&page_all=1

Mini Storage/Self Storage: Insurance Tip

One of the most overlooked coverage’s on self storage/mini storage companies insurance policies, is also one of the most crucial.

Customer Goods and Sale/Disposal Liability

This coverage is a must for self storage companies to have on their insurance policy. While most proper insurance packages will include this coverage, it is important to consider having higher limits as it may be a great return on your investment.

Recently, we were working with a client that felt they only needed $100K for both customer goods and sale/disposal coverage. We provided two proposals, $1m VS $100K, the difference was less than $100. That is 10X the coverage for only $100!

So, what does it cover?

Definitions courtesy of StorageFirst:
Customers’ goods legal liability coverage provides protection for an insured when they are legally liable (or alleged to have been liable) for damage to storage customers’ goods including property stored in the open.  For mobile self-storage operations, coverage extends to legal liability for customers’ goods off premises or in transit.  Defense costs are outside of the limit. No deductible applies to traditional self-storage accounts.  A $1,000 deductible applies to mobile self-storage and records/document storage operations.
Sale and disposal liability protects an insured for claims arising from negligent acts in connection with the lock-out, sale, removal or disposal of customers’ property. Typically, these claims occur when an insured sells the goods of a customer who is delinquent with regard to payment. The cost of defense is included. A $1,000 deductible per customer applies.

Ranch Insurance

Ranchers Insurance – What You Need To Know

When it comes to insurance needs, there is probably no single group more at risk than the California Rancher. When a ranch owner selects coverage, he is literally securing his livelihood, business, home and future. Being covered in the state of California carries certain legal responsibilities, that the insurance company can assist with. But it is more than that. The ranch provides food, shelter, income and stability. An unexpected event for the rancher can mean becoming homeless and put him out of business. It is absolutely necessary to make sure he has adequate coverage to allow him to survive and to put his ranch back in order.

Natural disasters

It is important to consider where your ranch is located. Are you in a flood zone or an area prone to wildfire? Of course, as with all insurance, you want to make sure your home, external structures and contents are covered. It is important to review your policy annually with your agent. People tend to buy insurance and forget it. Ranchers are busy and accumulate as they go, sometimes forgetting to call their agent about new equipment. It is critical that your coverage is ample to cover all your losses.

Livestock

Livestock coverage could be the single point where ranchers are most under covered. Livestock are living breathing creatures and as such they will wander. If your livestock wanders off the ranch and causes an accident, are you covered? What if the person in the automobile dies? The additional premium for livestock accidental death is minimal and the protection is extremely important.

There are additional policies available for your protection against the death of livestock. This can mean your own or livestock that you do not own, but are allowed to be on your property (and under your care). If there is a death due to malfunction, causing suffocation or temperature related issues, you should have coverage that pays for the replacement of your livestock.

Crops

Crop insurance is also an important consideration. The types of coverage available vary depending on the crops planted. This is another area where a good relationship with your agent is important. Making sure you have proper coverage in place before you have a crop issue will make your life much easier.

Vehicles

Ranchers have many types of vehicles that may be used on the ranch. Your truck or car as well as another vehicle used for your business needs to be insured. This is not the place to cut corners. Your ranch is only producing if you can work.

Workers

If you employ people to work on your ranch, whether they are farm hands or relatives, you should have workers’ compensation insurance. A law suit from an employee being hurt on the job could cost thousands of dollars.

Protecting your family, home, business and investments are the very reason you purchase insurance. Making sure you are properly covered is the reason you have an agent.

Peak Season Endorsement – Fluctuating Inventory

Hannah’s Retail Store does 70% of their sales from Thanksgiving through Christmas Eve. This means that they must stock up on inventory during the last two months of the year, to prepare for the increased sales. From January through October, they have $50,000 in inventory. November and December, inventory is closer to $150,000.

Should they pay for $150,000 in insurance coverage for the whole year? No. Is there some magical way that they only pay for the increased insurance during the time they need? Yes!

The “Peak Season Limit of Insurance” Endorsement (ISO Form: CP 12 30) increases the policyholders business personal property limit for specified periods to take care of seasonal increases in value.

Peak Season Endorsement - CP 12 30

CP1230 – Peak Season Endorsement

“Full Coverage” Auto Insurance

The term “full coverage” when referring to the insurance on your vehicle is very common. However, it is not a technical term. Full coverage can be misleading, as there are so many different coverage options on an auto insurance policy. When it comes to liability, how do you determine if you are fully covered?

For the most part “full coverage” is referring to physical damage on the auto insurance policy. This is the coverage that insures your vehicle for both comprehensive and collision damage. What? Lets break them down:

Comprehensive: Per IRMI comprehensive is the coverage under an automobile physical damage policy insuring against loss or damage resulting from any cause, except those specifically precluded. It covers losses such as fire, theft, windstorm, flood, and vandalism, but not loss by collision or upset.

Collision: Per IRMI collision is a form of automobile insurance that provides for reimbursement for loss to a covered automobile due to its colliding with another vehicle or object or the overturn of the automobile. This covers only damage to the automobile itself as “auto” is defined in the policy.

3 tips to save money on your insurance!

Lets face it, everyone wants to pay less for their insurance. Insurance is an expense that you only get something out of, if something bad happens. Insurance is expensive and it’s not getting less expensive. We don’t recommend lowering your insurance by having lower coverage’s, there are better alternatives.

Here are the 3 ways to save money on your insurance without cutting coverage’s:

1. Discounts

There are a number of discounts available that you may not know you are missing out on. The occupational discount is one of them. Most carriers provide a discount if you are a doctor, nurse, police officer, firefighter, paramedic, engineer, scientist, teacher, veterinarian, dentist, pharmacist, accountant, pilot, etc… Some companies provide a discount if you are a business owner, if you can provide a copy of your business license or a copy of your business insurance you may qualify for a discount. College degree, if you can provide a copy of your diploma you may qualify for a discount.

There are a number of discounts available and it will depend on what your insurance company has to offer. For example, Nationwide Insurance has a “SmartRide” program. If you opt in for the SmartRide program you get a discount. Nationwide sends you a small device that plugs into your vehicle and tracks your mileage for three months. After three months they send you a package to mail the device back. The multiple the mileage by 4 (3 months X 4 = 12 months) and determine your annual mileage. This locks in that mileage for the life of the vehicle. Not only do they offer a 5% discount just for opting into the program but depending on your mileage you may qualify for an even larger discount. Plus, you don’t have to have to worry about providing annual mileage again or having your miles increased on renewal. Your best bet is to get in touch with an awesome insurance advisor that can use their expertise to get you all of the discounts you deserve.

It will vary with each insurance company but most of the companies that insureCAL is partnered with offer all of these discounts. However, most companies have a maximum on discounts. I.e., if you qualify for the doctor, college graduate, and business owner discount you aren’t going to receive three discounts. Wouldn’t that be nice though!

2. Packaging

One of the largest discounts available is the “Multi-Policy Discount“. One of our insurance companies offers a 25% discount on the home insurance policy and a 20% discount on the auto insurance policy when they are both insured through them. On average that could save a family $500-1000/year or more… Those are huge savings!!!

There are some cases that you may have separate insurance companies but 90% of the time it is always best if all of your insurance is with one company.

3. Drive Less

The biggest rating factor on auto insurance is annual mileage. If you can cut back how many miles you drive, you can lower your reported annual mileage, which will in turn lower your insurance premium. Whether you have a long commute (more than 50 miles) or a short commute (less than 50 miles) carpooling may be one option to help cut back those miles.

These are just a few tips, there may be a number of other options not covered in this post. As always, the best tip we can offer is to partner with an insurance advisor that cares about you and has your best interests in mind. If all else fails, get in touch with us as we’d love to help.

How I Got Free Chipotle Catering For My Clients

by Dylan Delhart, Insurance Advisor @ insureCAL Insurance Agency

I LOVE CHIPOTLE! I mean who doesn’t. As crazy as it sounds I probably talk about Chipotle every single day. This summer they finally started a rewards program! It was the summer of Chiptopia rewards, and as soon as I heard about it I was ecstatic. The program ran from June to August and the rules were simple. Eat 4 burritos in a month and you get a 5th for free, make it to 8 burritos and your 9th was free, and if you could eat 11 burritos in 1 month they would give you a 3rd free burrito! It didn’t stop there, if you could eat 4 burritos a month for all 3 months of the promotion, they would give you another free burrito. If you could eat 8 burritos a month for all 3 months you would receive $20 in Chipotle merchandise. But the grand prize was greatest of all, if you could eat 11 burritos a month all 3 months you would get free catering! (a $270 value)

I wasn’t sure if I would be able to keep up, I would have to eat Chipotle at least 3 times a week. 4 days into the promotion I had already gone 3 times and earned my first free burrito! After about 20 visits to Chipotle I started to realize this was going to be easier than I thought. I was reaching my 11 burritos a month with many days left to spare. At that point I knew I was going to get the catering I just wasn’t sure how I was going to use it, until one day I was talking to one of my new clients about the rewards. She was an avid Chipotler like me, and wanted to be included in the catering. (I mean who wouldn’t) That’s when I decided I would invite all of my clients to a lunch at our office catered by Chipotle.

It was the best lunch ever! Chipotle gives you everything you need to set up your own private Chipotle restaurant! It was so popular with my clients we’re thinking about doing it every year! So all of you Chipotler’s out there give me a call! Let’s get your family covered properly and then let’s eat some Chipotle!

4 Reasons To Buy Dental Insurance Today

85 million Americans currently do not have dental insurance. This is at a time when tooth and gum pain is one of the leading causes of Americans missing work. Many people will not seek dental treatment because they’re afraid of how expensive it can be, which leads to more missed days at work. Below you will find 4 reasons you should look into dental Insurance today.

 

  1. The Waiting Period. When you first purchase a dental policy you can use it for cleanings and preventative care, but other more major services have a waiting period from 6 months to a year. So if you wait until you need it, you may have to wait some more.

 

  1. Having Insurance will make you more likely to go to the dentist. If you’re anything like me you don’t enjoy going to the dentist, and the $100 cleaning fee is enough to make me put it off to next year. If you already have dental insurance those cleanings are usually free and it’s only logical to use something you’ve already paid for.

 

  1. Your oral and overall health will improve. Regular cleanings and checkups will help keep your teeth and gums healthy. Not only can the dentist do a better job cleaning your teeth he can also identify future problems before they begin to bother you. Oral diseases not only cause mouth pain but can also be linked to diabetes and heart disease.

 

  1. It’s fast and easy to get enrolled. You can get a free no obligation quote at dental.insurecal.com or call me with any questions at (209)250-0269.

 

 

 

 

 

Vacant Home Insurance

by Patrick Ramsay

According the latest U.S. Census statistics, there are approximately 13 million vacant year-round homes in the United States. Just like occupied homes, these vacant homes must be covered, too. While it is tempting to skimp on coverage to save money, it is important to ensure you are fully covered so you don’t end up taking a loss when something does happen to your property.

Finding the right vacant property insurance can be quite a difficult task because a typical homeowners policy won’t cover the property after it is vacated. Whether you’ve moved out and haven’t found a buyer or are renovating your home, it’s vital to keep your property properly covered.

vacant

A few facts about vacant home insurance:

  • There is more risk associated with a vacant home than with one that is full of people because there is no one living there to take care of the home if something happens to it.
  • These homes are more likely to be broken into, vandalized, or damaged during a storm.
  • Intruders who enter the home may be hurt which may result in a liability claim against you.

When is a home considered vacant?

In most cases, homes sitting more than thirty days without people should have a vacant home insurance policy in order to be protected.

vaca

Whether you’re in between renters or you’re fixing up a house before flipping it, a vacant home is a liability you don’t want to let go uncovered. Contact one of our agents at insureCAL for a quote to find out how much your vacant property insurance policy will cost.