Buying a house? Don’t forget to consider insurance

You’re ready to buy a home: You’ve been pre-approved for a mortgage, researched school districts and you’ve found the house that’s perfect for you and your family. Is it time to make an offer? Not quite yet: Take a few minutes to investigate the insurance implications. Insurance is an ongoing homeowner expense, so it’s important to make insurance considerations are part of your home-buying decisions.
Do some investigation
There are several factors that typically affect the price and perhaps the availability of insurance for a home:

• Proximity to the coastline or floodplain and risk of flooding
• History of earthquakes or hurricanes/tropical storms
• Quality and location of the nearest fire department
• Age of the home
• Whether the home is well-built and up to code
• Condition of the roof
• Swimming pool or other special features

Before you make an offer

• Get a CLUE — It’s important to learn about prior claims on the house. Prior claims are not necessarily a barrier to securing insurance. In fact, sometimes it may be good news — for example, the roof was damaged by a tropical storm and replaced with a new one. Ask the current owner for a copy of the insurance loss history report, such as a Comprehensive Loss Underwriting Exchange (C.L.U.E.) report, or an A-PLUS™ property report from ISO, a source of information about property/casualty insurance.
• For information on how to get a free claims history or C.L.U.E. report from LexisNexis, see www.lexisnexis.com/risk/factact or call (866) 312-8076.
• For information on how to order a free A-PLUS report from Verisk ISO, see http://www.verisk.com/underwriting/how-to-order-your-free-a-plus-loss-history-report.html or call (800) 627-3487.
A record of insurance claims on the house can provide answers to two important questions:

• Have there been any past problems in the home?
• If damage occurred, was it properly repaired?
If the home has been claim-free for five years there will not be a loss history report on the property.

• Get the house inspected — The inspector should:
• Check the general condition of the home.
• Look for water damage, termites and other types of infestation.
• Check the electrical system, water heater and septic tank, if there is one.
• Show you where potential problems might develop.
• Make certain that any past problems have been properly repaired.
• Suggest upgrades or replacements that may be needed.

Call me, the sooner the better
Don’t wait until the last minute to think about homeowners insurance. Contact The Wertzberger Agency to learn about different coverage options today.

It’s time for your fiscal checkup

When was the last time you evaluated your financial health? Many people get a physical checkup annually but how about a fiscal checkup? It’s an opportunity to review how you’ve done financially over the past 12 months and to make sure you’re still headed in the right direction.

• Review your goals. Have you made progress on them this year? If not, where have you fallen short? Have your goals changed? If so, revise them and write them down.
• Evaluate changes in your personal situation. Big life events such as a job change, marriage, divorce, the birth of a child and so on, can disrupt even the best strategies and necessitate a change. For example, you may need to adjust your budget, your spending, your savings, etc. You may need to purchase additional life insurance, if for example, you lost/left your job and no longer have your employer group life insurance coverage.
• Protect your assets. Are you still adequately insured? I can help you review your homeowners, renters and auto insurance policies as well as your life insurance so you can be sure you have the coverage you want.
• How’s your emergency fund? Life is full of unexpected surprises. If you don’t plan for the unexpected — a car repair, illness, unemployment — these events can catch you off guard and leave you financially strapped or tapped. When the unexpected happens, it’s important to have a stash of cash set aside in an emergency fund. At a minimum, an emergency fund should consist of three months of your living expenses.
• Track your net worth. Simply subtract what you owe (your liabilities) from what you own (your assets). Like the stock market, your net worth will fluctuate so track it year-by-year. It’s the overall trend that’s important — as you pay down debt, build equity in your home, acquire more assets, and so forth, your net worth should continue to grow.
• Review your retirement strategy. Are you contributing the maximum to your 401(k) plan? If not, make sure you’re contributing at least enough to capture any available employer-matching funds. If your employer doesn’t offer a retirement plan, consider setting up an IRA on your own and making regular contributions.
• Prepare for the unexpected. Review your estate plan, including your will.
• Do you need to make adjustments? Make sure the beneficiary designations on your retirement accounts and life insurance policies are up to date.

Whether getting started or working toward your goals, contact The Wertzberger Agency today, because the more you know about your overall financial health, the better you can plan for the future.

Life insurance issued by Farmers New World Life Insurance Company, 3003 77th Ave. SE, Mercer Island, WA 98040.

Watch out for these four auto insurance fraud schemes

Dishonest people always seem to find ways to defraud others. Here are four common schemes and what you can do to help avoid becoming a victim:

1. Counterfeit air bags. If you’re in an accident and an air bag deploys, make sure it’s replaced by a trusted professional. Dishonest repair shops often replace deployed bags with cheap knockoffs, and sometimes don’t replace them at all.
   
   Your defense: Work with a trusted, reputable mechanic. Check out Farmers Circle of Dependability Program.
2. Staged accidents. The most common are:
• Swoop and squat. A vehicle passes you, pulls in front and slams on the brakes, forcing you to hit it.
• Drive down. You’re waiting to turn left, and a driver waves you through the intersection, then proceeds just in time to force a collision.
• Wave down. A person waves to you that it’s safe to pull out of a parking spot or parking lot, and another crashes into you.

Your defense: If you’re involved in an accident, take pictures of all vehicles, all passengers and other drivers. If your cellphone isn’t photo-capable, carry an inexpensive disposable camera for emergencies.
3. Windshield replacement rip-offs. Your windshield has a chip or crack, and a stranger approaches you in a parking lot. He says he’s with a vehicle glass company and offers to install a new windshield for free; all he needs is your insurance information. Do not provide this information! The windshield replacement may be poor quality and with your insurance information, the person may submit false claims, which can increase your premium.
   
   Your defense: Simply say “thanks, but no thanks.” If you need windshield repair, call me and I’ll put you in touch with a trusted vehicle glass company. Or you can check out Farmers Vehicle Glass Repair.
4. Towing scams. You’re stranded at the side of the highway and a tow truck just happens to stop by. What a relief — right? Maybe not. It could be what’s sometimes called a “bandit” tow truck, one that looks for people stranded along certain stretches of road. They offer to help, but afterward they charge heavily-inflated prices for their services, and you end up with an enormous bill.
   
   Your defense: Call a tow truck and wait for it. When it arrives, get a cost estimate and towing destination in writing. Better yet, add roadside assistance to your auto insurance coverage. The cost of adding it is low, and you’re sure to get safe, reliable towing. I can help you add this to your policy.

While you can’t predict or prevent every instance of fraud, you can be prepared. Remember that the more you know about insurance the better you can plan for the unexpected.

For more helpful insurance information or to review a proposal with Farmers, contact The Wertzberger Agency at 913-383-3276.

Source: http://www.bankrate.com/finance/insurance/auto-insurance-fraud-schemes-1.aspx

Make Your Holidays Safer

Christmas Tree Safety Tips
Did you know one of every three home Christmas tree fires are caused by electrical problems? Although Christmas tree fires are not common, when they do occur, they are more likely to be serious. On average, one of every 40 reported home Christmas tree fires results in a death, compared to an average of one death per 142 total reported home fires. (National Fire Protection Association and the International Association of Certified Home Inspectors)
Tips to help reduce the likelihood of a Christmas tree fire occurring:

• Make sure the tree is at least three feet away from all heat sources, such as fireplaces, radiators, candles, heating vents or lights.
• Make sure the base is steady so the tree won’t tip over easily.
• Cut a few inches off the trunk of your tree to expose the fresh wood. This allows for better water absorption and will help to keep your tree from drying out and becoming a fire hazard.
• Be sure to keep the stand filled with water, because heated rooms can dry trees out rapidly.
• Make sure the tree is not blocking an exit.

Holiday Lighting and Decoration Safety Tips
Did you know electrical problems were factors in one-third (32 percent) of home Christmas tree fires? (National Fire Protection Association and International Association of Certified Home Inspectors)
Tips to reduce the chances of a fire due to lighting:

• Use lights that have the label of an independent testing laboratory. Some lights are designed specifically for indoor or outdoor use.
• Replace any string of lights with worn or broken cords or loose bulb connections. Read manufacturer’s instructions for number of LED strands to connect.
• Always turn off Christmas tree lights before leaving home or going to bed.
• In homes with small children, take special care to avoid decorations that are sharp and breakable, and keep trimmings with small removable parts out of the reach of children.
• Avoid decorations that resemble candy or food, as they may tempt a young child to put them in their mouth.

Candle Safety TipsDid you know that candles, whether used as decorations or on a candelabra, kinara or menorah, can be a cause of home fires, and home fire deaths? More than half (56 percent) of home candle fires occur when something flammable is too close to a candle. (U.S. Fire Administration)
Tips to prevent a candle from causing a home fire:

• Blow out all candles when you leave the room or go to bed. Avoid the use of candles in the bedroom and other areas where people may fall asleep.
• Keep candles at least 12 inches away from anything that can burn.
• Think about using flameless candles in your home, as they are much safer, and look and smell like real candles.

Protect Your Home Over the Holidays
Did you know that in 2012 over 2.1 million burglaries occurred in the U.S.? Almost 75 percent of these occurred at residences. (Federal Bureau of Investigation)
Home security tips for the holidays:

• If you plan to travel, don’t discuss your plans with strangers.
• Have a trusted friend or neighbor keep an eye on your home.
• Do not leave empty boxes in front of the residence as they alert thieves to attractive items in the home.
• Use your home burglar alarm system.

Fireplace Safety Tips
Did you know that heating was the second leading cause of all residential building fires following cooking? Confined fires, those fires confined to chimneys, flues or fuel burners, accounted for 87 percent of residential building heating fires. (U.S. Fire Administration and the International Association of Certified Home Inspectors)
Tips to stay safe with using a fireplace:

• Make sure the area around the fireplace is clear of any flammable materials. Check to see that the flue is open.
• Have the chimney professionally inspected annually and cleaned as necessary.
• Never leave a fire unattended.
• Make sure the fire is completely out before going to bed or leaving the residence.

HAPPY HOLIDAYS FROM FARMERS INSURANCE - THE WERTZBERGER AGENCY

Do you know your credit score?

If you are someone who checks your credit score regularly, congratulations — many people don’t. It’s best to check your score regularly, as it is a fluid number. So, if you see your score fluctuate, don’t panic, as your credit score may change due to a number of factors:

• Did you max out a credit card? Life happens, as they say. Unforeseen medical expenses or emergency purchases, for instance, may cause you to max out one of your credit cards. If you are unable to pay off the balance in full, pay as much as you can each month. Try to pay more than the minimum payment and make sure you pay on time. This may help boost your score over time, as you demonstrate financial stability and build (or re-build) a solid payment history.
• Did you recently apply for a new credit card, auto loan or mortgage? When you’re in the market for a new home or a new car, potential creditors will check your credit history. These inquiries stay on your record for some time, and too many such inquiries could have a negative impact on your score. Try to limit the number of loan applications you complete and the preliminary credit inquiries you approve.
• Is there suspicious information on your credit report? Verify the information on your credit report with all three reporting agencies (see below). If there’s an entry you don’t recognize or that seems questionable, check into it, as it could mean you’re a victim of identity theft.
• Have you been the victim of ID theft? If you believe that you’re a victim of identity theft or fear that you may become one — for example, if you lost your wallet, gave personal information to a stranger, or your house was burglarized — take these steps immediately:
1. Start a log. As you make phone calls, keep notes of your conversations; make copies of all correspondence to and from authorities and financial institutions, including dates, names, and phone numbers.
2. Contact the credit bureaus. Call or visit the websites of the three major credit bureaus and ask that they issue a fraud alert and attach a statement to your credit report. Also get copies of your report from each of the three bureaus:
• Equifax: (800) 525-6285 or www.equifax.com
• Experian: (888) 397-3742 or www.experian.com
• TransUnion: (800) 680-7289 or www.transunion.com
3. Call the police. File a report of the crime with your local police department.
4. Identity Theft Victim’s Complaint and Affidavit. Download this form from the Federal Trade Commission at www.ftc.gov/idtheft and complete it as soon as possible. When you refuse responsibility for a new account or transactions on an existing account, creditors may accept this affidavit.

For more information visit ftc.gov.

To help protect against the risk of credit card theft/Identity Fraud, Farmers Insurance offers free Identity theft protection as an added benefit within Home Insurance. For more information about Identity theft protection or other benefits of the Farmers Home Insurance product that make it industry leading, contact The Wertzberger Agency at 913-383-3276.

Business Insurance - Employee Practices and Liability Insurance

If you are a business owner, you likely have business insurance. If you don't, regardless of what type of business you own, get it!

 

What is included in one's business insurance can vary significantly between providers. Many providers offer what is called a "BOP" (Business Owner's Policy). A BOP is a comprehensive package that has many types of coverage inside the policy; some of which apply to one's specific type of business, some of which may not specifically apply.

One VERY important aspect of coverage for businesses that have employees is Employee Practices and Liability Insurance (EPLI).

The Insurance Risk Management Institute defines EPLI as:

A type of liability insurance covering wrongful acts arising from the employment process. The most frequent types of claims covered under such policies include: wrongful termination, discrimination, sexual harassment, and retaliation. In addition, the policies cover claims from a variety of other types of inappropriate workplace conduct, including (but not limited to) employment-related: defamation, invasion of privacy, failure to promote, deprivation of a career opportunity, and negligent evaluation. The policies cover directors and officers, management personnel, and employees as insureds. The most common exclusions are for bodily injury (BI), property damage (PD), and intentional/dishonest acts. EPLI policies are written on a claims-made basis. The forms contain "shrinking limits" provisions, meaning that insurer payment of defense costs—which are often a substantial part of a claim—reduce the policy's limits. This approach contrasts with commercial general liability (CGL) policies, in which defense is covered in addition to policy limits. Although EPLI is available as a stand-alone coverage, it is also frequently sold as part of a management liability package policy. In addition to providing directors and officers (D&O) and fiduciary liability insurance, management liability package policies afford the option to cover employment practices liability (EPL). 

If you don't know whether your business insurance includes EPLI coverage, check with your insurance provider. Also confirm what level of coverage is carried.

For other helpful tips on business insurance or to review an option for your business, contact Farmers Insurance - The Wertzberger Agency at 913-383-3276 or email us.