Ice Damming - Am I Covered?

The short answer to this questions is unfortunately, maybe. Whether or not damage due to an ice dam is covered depends not only on the company that provides you with your home insurance, but even the type of home insurance you carry with that company. If an ice dam is covered, it would also be subject to your home insurance deductible, so filing a claim may not even be worth it due to the damages normally not being too extreme. Then, you also have to know if your rates would be affected due to the filing of a claim. The best course of action would be to speak to your Agent. If you don't have an Agent, get one.

This is a very helpful video about Ice Damming; how it happens and how to prevent it.

What is an ice dam? An ice dam is a wall of ice that forms at the edge of the roof, usually at the gutters or soffit. When it forms the water then backs up behind the ice dam and creates a pool of water. This pool of water can leak into your home and cause damage to walls, ceilings, insulation, and other areas

What causes ice dams?

Ice dams are usually caused by heavy snowfall and improper ventilation in the attic. This causes warmer areas in your attic then the snow begins to melt, even when the outside temperature is well below freezing. When the accumulated snow on your roof starts melting it runs down your roof underneath the snow until it reaches a "colder" section like the soffit's, valleys or in gutters then it begins to freeze again, this process of thawing and refreezing is what causes an ice dam.

How to prevent an ice dam?

Cleaning the gutters on your home can help prevent ice dams from occurring as quickly but they can still occur if the conditions are right. The gutters will be just as cold as it is outside and in some cases, full of frozen debris. So even if you don't have a soffit for the water to refreeze in, the melted water will most likely refreeze when flowing into the gutters. Properly ventilating and insulating the attic is usually the best way to prevent ice dams. You can also purchase a roof rake to assist in removing snow from your roof, not allowing it to accumulate on the edges.

Farmers launches the Farmers® Rewards Visa Signature® and Visa® Cards offered by Comenity Bank

As a Farmers customer, you’re used to getting superior coverage. You now have the chance to get the credit card that offers superior rewards you can use for your everyday activities, the Farmers Rewards Visa Cards offered by Comenity® Bank.

Farmers Rewards Visa cards overview:

Points: Earn three times the points every time you use your card to purchase Farmers products, fill up your gas tank or shop at home improvement stores.¹

Bonus points: Spend $500 on your Farmers Rewards Visa card within the first 90 days of opening your account and you’ll earn 3,000 bonus points.²

Point redemptions: Easily redeem your points online or by calling for a statement credit toward your Farmers products purchase.

Financial benefits:

0% intro APR on all purchases for the first 12 months, after that the APR is 13.24% to 20.24% based on Prime Rate and creditworthiness.

No Annual Fee.³

What others are saying:

"We highly recommend adding the Farmers Rewards Visa to your wallet if you're investing in home improvement, are a current or future Farmers customer, and fill up at the pump often." – Wallaby Financial

"Farmers Rewards Visa is an impressive rewards credit card for both existing Farmers customers, and individuals simply looking to fund various home improvement projects." – ValuePenguin

The value of making smart choices
Take advantage of a smarter rewards program and request your card now. Apply for the Farmers Rewards Visa card by going online today at www.farmers.com/rewardsvisa and start enjoying all the benefits the card has to offer.⁴

¹The Farmers Rewards Program is provided by Comenity Bank which is solely responsible for the Program operation and all Rewards. Comenity Bank may change the terms of the Program at any time. Not all insurance products are eligible to be purchased on a credit card. See your agent for details. See Farmersrewardsvisa.com for Rewards Terms and Conditions.

²Bonus of 3,000 points will be awarded to new cardholders accounts. To qualify and receive your bonus points you must make purchases outside of Farmers totaling $500 or more within the first 90 days of account opening. Qualifying transactions do not include using your account for Account Assure Pro, balance transfers, cash advances or using any checks that access your account. To be eligible for this bonus offer, account must be open and not in default at the time of fulfillment. This onetime bonus offer is valid only for first-time Farmers Rewards Visa and Visa Signature cardholders with new accounts.

³Standard variable APR of 13.24%, 17.24% or 20.24%, based on the Prime Rate and creditworthiness. Balance Transfer and Cash Advance APR of 22.24%, based on the Prime Rate. Minimum Interest charge is $2.00 per credit plan.

⁴Subject to credit approval. The Farmers® Rewards Visa Signature® and Visa® credit card accounts are issued by Comenity Bank pursuant to a license from Visa USA Inc. Visa is a registered trademark of Visa International Service Association and used under license.

Farmers Insurance - Uninsured and Underinsured Motorist Coverage

The New Farmers Insurance Mobile App

The new Farmers Insurance^SM mobile app is an easier, smarter way for you to manage your insurance. This app gives you access to our most frequently used self-service features, right from your mobile device — the new Farmers® app provides the opportunity to access your insurance anytime, anywhere.

What’s new in the app:

• Instantly view ID cards. Need quick access to your proof of insurance? Get instant access to your digital insurance ID card(s), even when logged out (not available in all states).
  
• Connect with your agent. Have a question? Need some information? Your Farmers agent is the person to turn to. Now your agent is right at your fingertips with quick access to their contact information even when you’re offline.
  
• Pay bills quickly. Do you have a bill due? No need for a check or stamp: you can manage your payment methods and pay your bills conveniently from your mobile device. For additional convenience, you can enroll in automatic payments.
  
• Additional features:  The new Farmers Mobile App gives you access to your policies with other convenient features like:
  • Instant access
    The “Keep Me Logged In” feature lets you immediately access your Farmers account without having to log in every time. And coming shortly, you’ll be able to access your Farmers account information with fingerprint Touch ID (on devices equipped with this feature.) You can now also register your Farmers account from your mobile device¹.
  • Message center
    Stay up to date on any activities involving your policies with helpful in-app messages and alerts, all organized in a message center. Check the status of active claims, find out when bills are due or when policy information changes.
  • Access your insurance. When you need it. No need to leave your info behind when you’re on the go. Over 100,000 Farmers customers have downloaded the updated app. Take advantage of a smarter way to stay connected to Farmers.

Download the app now

^1. This App currently only supports Home, Condo, Renters, Auto, and Umbrella policies from Farmers Insurance^SM. We are currently working to support other products, including Life insurance, in the future.
Features on this app are available for Farmers® policyholders with registered online accounts.
Farmers will not charge you for text messages, or the use of the Farmers mobile app. However, you may see usage charges from your service provider depending on the type of data/rate plan you are currently on. Updates of Billing information, policy information and delivery of in-app messages may be delayed for various reasons, including service outages affecting your phone, wireless or internet provider.
All access to and use of this App is subject to and governed by the Farmers Terms of Use and Privacy Statement.

Farmers Indexed Universal Life Insurance

Financial options. Financially savvy people know that the key to having options is to start early and have a mix of short-term and long-term, and lower-risk and higher-risk tactics in their financial game plan.

Life insurance is, first and foremost, a way to help protect your assets by replacing the income that makes your family’s lifestyle possible if something happens to you. But it can also be one step toward helping secure the financial options you want.

Indexed universal life insurance is a long-term insurance tool that combines the end-of-life death benefit offered by permanent life insurance with potential for cash value growth linked to a stock market index. Indexed universal life may offer advantages for people who want a lower-risk choice for their cash value than variable universal life insurance, but with potentially higher returns than traditional universal life insurance.

How indexed life insurance works
To understand how indexed life insurance fits into the spectrum of life insurance available, it's helpful to understand some life insurance basics.
There are two main types of life insurance: term and permanent.

Term life insurance is underwritten for a specific period of time, typically from five to thirty years, and the premium will increase if the policy owner wants to keep the policy in force after the initial term period has ended.

Permanent life insurance can insure you for a lifetime¹. The most common forms of permanent life insurance are whole life and universal life.

To help customers afford life insurance coverage later in life when the risk is higher, permanent life insurance policies have a generally income tax-deferred² cash accumulation feature that’s not available in most term policies. A portion of your premium payment goes toward cash value that may grow over time.

This cash value is primarily intended to help you cover the future cost of the policy as the cost of insurance goes up with age. However, the cash value can be borrowed or taken out (surrendered)³ for any use, and the death benefit remains guaranteed according to the terms of the contract and provided that premiums are paid.

Whole life insurance generally has a level premium and guaranteed level death benefit, while universal life has additional features including flexible premiums4 and face amounts to meet your changing needs.

There are three main kinds of universal life insurance: traditional, variable, and indexed.

Traditional universal life is designed to help you meet your current and future life insurance needs as your life changes – through marriage, parenthood, job promotions, retirement and more. You decide when and how much premium to pay, within policy limits, allowing you to build cash value faster when you have funds available, or temporarily suspend premium payments if times are tight. The policy’s cash value is guaranteed to earn a minimum interest rate, and may earn a higher rate depending on the company’s investment returns.

Variable universal life insurance has the same flexibility as universal life, plus an investment feature. The investment feature typically allows you to allocate your cash value to a broad choice of market-based "subaccounts." Variable universal life has the most potential for gain of any of the universal choices, but the subaccounts are also vulnerable to market fluctuations – when the market goes down, so does the value of subaccounts invested in the market.

Indexed universal life provides you the opportunity to allocate your premium into accounts whose returns are linked to the performance of specific market indexes. This money is not invested directly into the market. Instead, the insurance company monitors the performance of the indexes and calculates a credit based on that index’s annual percentage change. This can lead to gains in the cash accumulation account if the indexes perform well.

But what if the index performs poorly? Luckily, indexed policies usually include features that shield policy owners from losses due to a market decline. In exchange for this protection, most indexed policies are also subject to a cap on gains. Most indexed life insurance policies also offer a fixed account that policy owners can choose, which is guaranteed to grow by at least a minimum interest rate regardless of market performance.

There’s a popular adage in the life insurance industry: the best time to have started preparing for the future was 20 years ago. The second-best time is today.

Maybe you’re balancing a mortgage, saving for your children’s education, and looking ahead to retirement. Because of its versatility and generally income tax-deferred growth, and generally income tax-free⁵ distributions and death benefits, indexed universal life can help meet the needs of customers like you and me – customers with families, who may have full-time jobs or own small businesses.

Call me, at Farmers Insurance - The Wertzberger Agency, to talk about all of the ways Farmers Life can help you protect your financial assets and help secure your family’s financial future at 913-383-3276 or by email HERE

Your Farmers agent may only sell policies in states in which he or she is licensed.
Farmers New World Life Insurance Company is not licensed to sell life insurance, accident and health insurance, or annuities in the state of New York.

¹Lifetime coverage is guaranteed as long as all premiums are paid to keep the policy in force.
²For informational purposes only. In general, partial withdrawals from a permanent life insurance policy in excess of the policy’s basis are taxable, and limited circumstances exist where death proceeds will be taxable. Neither Farmers New World Life Insurance Company, its employees nor its Agents provide legal or tax advice. Always consult your own attorney, accountant or tax adviser as to the legal, financial or tax consequences and advice on any particular transaction.

³Policy loans and withdrawals will reduce cash surrender value and death benefit. Policy loans are subject to interest charges. If your policy is a modified endowment contract, loans and withdrawals may be subject to taxes and penalties.

⁴This policy may lapse if premiums are not paid or if premiums are not sufficient to continue coverage.

⁵Distributions from a life insurance policy in the character of partial surrenders (withdrawals) up to basis or policy loans will generally be income tax free, provided the policy does not violate Modified Endowment Contract (MEC) guidelines and the policy is not terminated during the lifetime of the insured.  MEC guidelines are rules in the Internal Revenue Code which specify maximum premiums that can be paid without triggering adverse tax consequences for withdrawals. A policy termination during the life of the insured can cause the owner a single taxable event for any gains in the policy that were borrowed or withdrawn on or before the termination date.

Farmers Insurance - Comprehensive and Collision deductibles

Ways to Cover the Cost of Life Insurance

Many people may they think they have a good understanding of life insurance. Often, this may not be the case. When asked how much they thought life insurance would cost for a year, 80 percent of those who answered a recent survey overestimated the cost of term insurance¹ by more than twice what it really costs. The primary reason many people hesitate to purchase life insurance is the belief that it’s too expensive. That’s unfortunate considering that life insurance can help protect the financial future of your family should something happen to you. When you look at the numbers, the cost of coverage should not be a barrier for many people.

For example, a healthy 30-year-old man can get $250,000 of term coverage from Farmers New World Life Insurance Company for $22.68 a month². With the average monthly cost of $61³ for a cell phone, or $64⁴ for a cable subscription, life insurance is a relative bargain. As you can see, life insurance can be affordable.

Here are some money-saving ideas to consider that can benefit many areas of your life in addition to helping cover the cost of life insurance:

Create a budget. Track your expenses: knowing where your money is going may help you identify areas where you can easily reduce your spending. There are many free money management tools and apps that can assist you with this.

Quit smoking. It benefits your health, and a pack-a-day smoker can save over $2,000 per year based on the average cost of a pack of cigarettes⁵. Non-smokers can also expect lower life insurance rates – all other factors being equal – than smokers.

Bring your lunch to work. By not spending just $5 a day you are looking at saving about $1,200 a year. You don’t have to bring your lunch every day: even bringing your lunch every other day can result in savings that can help cover the cost of a life insurance policy, and possibly even more.

Eat out one less time per month. If it costs you about $30 on average each time you go out, reducing this number by once a month will allow you to save over $300 a year.

Bring coffee from home.  Do you spend $3 a day on coffee during the work week? If so, this can add up to $720 per year. Cutting this number in half can result in significant savings.

Save your loose change. It may not sound like much, but setting aside fifty cents a day over the course of a year will allow you to save more than $180.

Take advantage of all company benefits and discounts. Your company may offer corporate discounts on gym memberships, cell-phone data plans, hotels, concerts, etc. that can help you save.

Organize your closet. This can have a number of advantages. You can save time in the long run knowing where everything is located, and you may find forgotten items, reducing the need to purchase new ones. Consider consignment for items you no longer want to keep.

Research major purchases. Check product reviews, price comparisons, features, and other aspects of any product you are looking to purchase. Wait for sales for additional savings and discounts. A little research and timing can save big $$$ on a purchase.

Start small to save big
Starting with some small steps, you can easily find the money to pay for life insurance. The hardest part of any change is getting started. Once you do, things usually start to fall into place, the process becomes much easier, and you can begin to recognize the positive impact it has on your life.

Life insurance can positively impact your life by providing you comfort in knowing that it will help support your family financially in what may be a distressing and uncertain time. While no one likes to think about a time when they can no longer care for their family, your family’s needs will still be there even if you are not.

Contact me today to discuss your options regarding life insurance and how it can help you and your family. You can reach Farmers Insurance - The Wertzberger Agency by calling 913-383-3276 or by email HERE

¹ Data from the 2015 Insurance Barometer Study by Life Happens and LIMRA.
² Policy form 2000-230 or applicable state variation. Rate is based on a 20-year Farmers Value Term, 30-year-old male, non-nicotine Platinum Elite underwriting class. Electronic Funds Transfer required. Issuance of a policy and rates are subject to underwriting guidelines and approval. Premiums are subject to change after the initial term period.
³ New Street Research, The Wall Street Journal, March 9, 2014
⁴ Report on Cable Industry Prices, Federal Communications Commission, May 16, 2014
⁵ http://www.cdc.gov/tobacco/data_statistics/tables/economics/infographics/index.htm
Your Farmers agent may only sell policies in states in which he or she is licensed.
Farmers New World Life Insurance Company is not licensed to sell life insurance, accident and health insurance, or annuities in the state of New York.
Life insurance issued by Farmers New World Life Insurance Company, 3003 77th Ave. SE, Mercer Island, WA 98040.