For Students
Most students are too busy worrying about grades to even give a second thought about the insurance for their possessions. The good news is that their parent’s homeowner’s insurance automatically provides insurance on their personal belongings while they live on campus in a dormitory. The bad news is a student who lives off campus in an apartment has no coverage for his or her personal items. The parent’s policy excludes extending coverage there. The student may also mistakenly assume the landlord’s insurance will cover any loss/damage.
Contrary to what many students or parents may think, rental insurance can be very affordable – $10 to $25 per month, depending on the amount of coverage and deductible. Knowing that insurance can help cover the cost of replacing your possessions is a good feeling. It’s also good to know that insurance can help cover living expenses and the cost of housing should a catastrophe occur. Insurance can even cover you if a guest is accidentally injured in your apartment and you have to pay medical expenses.
Determining the amount of coverage that suits you best can be tricky. Many people don’t realize all the things they own or the furnishings they’ve added to their apartment/dorm. That’s why it makes sense to talk with an agent who can explain coverages and maybe even remind you about that expensive mountain bike you keep in the hallway.
Switching gears – if you take your car to school with you, it’s wise to review your auto policy. Rates are based on where the vehicle is primarily garaged and, depending on where you go to school, this may impact your coverage and premium. To be sure you’re properly covered, give us a call. We’ll review your situation and let you know the best course of action.
For Parents
It may not occur to many parents, but back to school time is a great time to review your auto and homeowners policies. Many insurance companies allow a credit to be applied to the parent’s auto policy when the child is at a college over 100 miles away from home. Reviewing your homeowners insurance makes sense too. It’s helpful to know if and how much of your coverage extends to your child when they’re away at school. So pull out those policies and give us a call today!
After making a property claim, some customers are often puzzled when they see their payment doesn’t match the estimate. Are you being cheated? Mistreated? Certainly not. To understand why this happens, it helps to know how the process for property claims works.
After you report a property claim, the insurance company assigns an adjuster who estimates the damage. The estimate is then processed by the insurance company and a check is mailed to you. The insurance company will normally hold back a percentage of the payment – typically, 20-30 percent of the estimate.
Once repairs to the property have been completed or the damaged property has been replaced, you’ll need to provide proof of repair or replacement to the insurance company. Typically, required proof includes:
• Canceled check(s)
• Credit card bill detailing the related purchase(s)
• Contractor’s invoice(s)
The proof of repair/replacement is required to ensure that claims payments are used for their intended purpose. Once proof has been verified, the remainder of the claim will be paid to you.
When warmer weather arrives, lots of people take off in their Rvs and head for the great outdoors. Many will park at a campground and stay there all summer long – their RV becomes their summer residence. Relaxing at a campground is great, especially when you have attachments that add comfort and convenience to your RV, such as awnings, or satellite dishes. But, it’s important to know that in circumstances like this, attachments would not be covered if the RV or camper is insured under an automobile policy. When an RV is parked at a campsite, there would also be no liability coverage if a visitor should sue after tripping and falling at your RV site. To help keep your summer enjoyable, we offer specific insurance to meet the needs of RV owners. Don’t let a lack of proper coverage spoil your summer fun. Call today for details on RV insurance.
According to the Centers for Disease Control, motor vehicle crashes are the leading cause of death for teens in America – accounting for more than 1/3 of deaths in this age group. It is estimated that nearly 8 teens die in car crashes every day and over 350,000 teens are treated each year for injuries resulting from a crash.
Among teen drivers, those at especially high risk of crashing include:
• Males
From 2000 to 2006, deaths of male drivers and passengers in the 15 to 19 age group outnumbered deaths of female drivers and passengers nearly 2 to 1 – 12,479 vs. 6,579.
• Teens Driving With Teens
When unsupervised teens drive with other teens in the car, they are more likely to be involved in a crash. This risk increases with the number of teen passengers.
• Driving At Night
The chances of a teen being involved in a crash nearly doubles when they drive at night
• Newly Licensed Teens
During their first year of driving, teens face the highest risk of being involved in a crash.
The more experience teens have behind the wheel, the safer they’ll drive. That is why many states have implemented graduated driver licensing programs. These programs allow teens to gain experience as they gradually move from learner’s permit, to intermediate or “provisional license” and finally, unrestricted driving.
The CDC recommends that parents take an active role by
• Making sure new drivers and their passengers always wear seat belts
• Prohibiting teen driving at night and when other teens are in the car
• Enforcing a zero tolerance position toward alcohol.
Many condo owners know that their association purchases a master insurance policy that covers the building. But what they may not know is that this master policy doesn’t cover the entire building. it’s important to check the association documents and deed to determine what portion of the building you are responsible for. Typically, this is everything inside the walls of your unit, but it can be tricky figuring out how much coverage is enough. Floor and wall coverings, window treatments, fixtures, appliances, cabinets, counters and more all have to be considered. That’s where we come in. Give us a call today and we’ll advise you on the condominium association documents that you will need to review.
With colder weather comes snow and ice – a treat for those who enjoy skiing, snowboarding, skating and other winter activities. Snow and ice can also be a problem for homeowners, especially when they form an ice dam. It’s important to know about ice dams because they can cause significant damage to your home.
The eaves of a house tend to be colder than other parts of the roof. When melting snow and ice run down the roof, they can sometimes re-freeze at the colder eaves and form an ice dam. If this continues, the ice can move up the roof and prevent melting snow from properly draining. The water from melting snow can sometimes make its way under the shingles and into your home. That’s a situation nobody wants because it may result in costly damage.
Some insurance carriers will reimburse you for reasonable costs associated with removing an ice dam, but only if it causes damage to the interior of your home. That’s why spotting and removing ice dams is so important. Below are a number of steps you can take to prevent ice dams from forming.
• Keep your attic properly insulated and ventilated. Doing so can help reduce snow melt on the roof and decrease the chances of ice dams forming at the eaves.
• Shovel around downspouts to help gutters drain properly and prevent ice buildup.
• Clear snow and ice from the roof before it melts – safety first though. If your roof is accessible from the ground, use a roof rake to clear snow and ice from the eaves. Never climb onto a snowy or icy roof and never place a ladder on a snowy, icy or slippery surface.
• Avoid using mechanical or electrical devices to chip away ice as they may cause harm to you and/or damage to the roof.
To find out if your homeowners policy covers removal of ice dams, and other winter perils, give us a call today or email us at info@estabrookchamberlain.com. We’ll gladly review your coverage and make recommendations to ensure your coverage meets your needs.
A side effect of the down economy and depressed real estate market is an increase in the number of vacant homes and buildings. Vacancies are also lasting longer.
If you own a home that is insured with a homeowners policy, it’s important to know that the policy excludes payments for claims made on a home that is considered vacant. Properly protecting such a home requires a vacant home policy – normally written for a period of 6 months.
Owners of vacant commercial properties are also being impacted. Given continued high unemployment and the rising price of copper, vacant commercial properties have become much more attractive to thieves.
For owners of vacant residential or commercial property, Estabrook & Chamberlain recommends a regular insurance review to eliminate gaps in coverage and ensure adequate protection. If you have any concerns about your existing coverage or have questions about the difference in policies, we can help. Give us a call today at 800-358-1717.
When traveling for business or pleasure, many people decline the loss damage waiver (LDW) when renting a car. Most believe they are fully covered by their own auto insurance or the insurance provided by their credit card. However, there are situations when these coverages don’t fully protect you.
A rental company can contractually charge the renter for many indirect expenses that normally are not covered by auto policies or are covered only for small amounts. One of these charges is referred to as “diminished value”. Diminished value can be highly subjective and the loss of value is often uncertain until the rented car is sold. It may seem ridiculous, but some stories claim rental companies have charged from $4,000 to $7,000 for diminished value.
In one instance, $15,000 was claimed for diminished value on a luxury SUV!
Luckily, courts have so far tended to uphold the ability of insurance companies to exclude diminished value claims, but this doesn’t mean you should assume you’re covered. One customer of a Florida insurance agent had to pay thousands of dollars plus the cost of travel to Colorado to appear in court when sued in a diminished value case.
Most people never have to face diminished claims, but the next time you need to rent a car, think twice. Don’t dismiss LDW coverage out of hand. It could come in very handy.
Today’s new cars feature technology that many of us would never have dreamed possible. GPS, Bluetooth, voice control, even social networking – today’s cars are more convenient than ever. But, is convenience pushing safety to the side of the road? In a recent survey*, nearly 63% of those polled think American drivers are too reliant on their car’s technology. The survey suggests that most drivers are more familiar with their car’s technology gadgets than with its safety features. The report goes on to say that new car buyers are more interested in convenience features than safety features.
Studies have shown that new technology conveniences can often require drivers to focus their attention on things other than the road – increasing the chances of an accident. To make matters worse, many cars equipped with such gadgets are driven by younger, less experienced drivers who tend to use new technology more often. This means that even the most attentive drivers can be involved in an accident caused by a driver distracted by beeping gadgets or flashing screens in their dashboard.
So what can you do to deal with technology distractions? First of all, remember that your primary focus should be the road ahead of you and the drivers around you. When not needed, turn gadgets off and get in the habit of using them only when it is safe to do so. If necessary, pull over to the side of the road when technology requires too much of your attention. And finally, always practice defensive driving, because you never know when someone else might bend over to retrieve a dropped Bluetooth headset or decide to pummel their GPS for sending them down the wrong street.
*Survey conducted by Met Life Auto & Home and American Survey Pulse Poll
In the classic movie “The Pink Panther”, Inspector Clouseau asks a hotel clerk, “Does your dog bite?” “No”, the clerk replies. Clouseau tries to pat the pooch, only to be bitten!
“I thought you said your dog does not bite”, Clouseau exclaims. “That is not my dog”, replies the clerk.
Often, there is no telling what a pet will do. Even the most likable person can cause an otherwise friendly dog to growl and snap. Each year in the United States, there are about 4.7 million injuries from dog bites. 900,000 of these bites require medical treatment and 50% of bites happen at the residence where the dog lives. $412 million was paid by insurers for dog bites in 2009, and the average dog bite claim was more than $24,000.
Typically, the liability portion of your homeowners insurance covers up $500,000 for dog bites. However, in a worst case scenario, a claim could easily exceed that amount. For this reason, we often suggest that customers consider an umbrella policy that provides additional coverage for animal liability claims. Available in increments of $1,000,000, the added coverage may prove a wise decision should Spot
ever decide to nip at a neighbor.