The Benefits of Renters Insurance

Even if you don’t own a home, you probably own a great deal more than you think. Consider all of your furniture, electronics, clothing and appliances. Also include any jewelry, collectibles, books or musical instruments you own. Now consider how much it would cost to replace all of these items if you had to do so. Doesn’t seem like such a small number, does it? Imagine you are having a cookout, and a guest trips on the stairs while attending. Could you cover their medical bills if need be? What happens if something leaks in your apartment, and ends up damaging your neighbor’s unit? How would you pay for those damages? The answer is renters insurance.

Renters insurance is very similar to homeowners insurance, in that it helps cover you and your property. The landlord’s insurance policy on the rental unit typically covers the building structure itself, while protecting your property is your responsibility. Renters insurance and what it covers can vary, but in general it covers personal property, personal liability, property damage to others, additional living expenses and medical payments to others. What your policy covers depends on the coverage limits you select.

Here are some of the benefits renters can gain from purchasing renters insurance:

Fire and theft protection

If your apartment or rental home becomes damaged in a fire or other peril named in your policy, your renters policy can help to repair or replace your possessions. Likewise, if your residence is broken into, your renters insurance policy can pay to repair or replace listed items that are damaged or taken. Additionally, renters insurance policies typically provide loss of use coverage, which can help pay your expenses if you have to relocate for repairs. Here’s a tip: Create an inventory of your belongings. Include furniture, clothing, books, electronics, appliances, etc. along with its estimated value. Take photos of your belongings, and keep track of credit card statements — keeping a current list will make it easier should you have to file an insurance claim.

Protection from damage you may cause

Renters insurance covers more than just your property. For example, if you accidentally ride your bike into a parked car, your policy can  cover that, and pay for the losses of people who are injured or suffer property damage because of your actions.

Protection from liability claims

Like to entertain? Ever get a package delivered? Renters insurance can provide liability protection, which covers injury to another person while on your property. So, if you’re sued because someone is injured while at your residence or because you or someone covered under your policy accidentally injure someone, renters insurance can provide liability coverage for legal costs and the settlement of the injury claim up to your limits.

Affordable protection

Many renters assume their belongings will be covered by their landlord’s policy if something should happen. Your landlord’s insurance policy will not cover your losses due to theft or damage. Renters insurance covers your personal property, and even covers you from liability claims while you’re renting. Also, if your rented home ever needs serious repairs, and you’re unable to live there, it also covers the reasonable and necessary increase in living expenses (housing, food, etc.) you may incur from a covered loss. While there’s no law requiring you to purchase a policy when renting, to help protect you now and your future it is important to purchase renters insurance.

Make the call and purchase renters insurance.  It is an inexpensive way to protect your property from damage or loss, and can help you rebuild your life should you experience a loss. Call me today to get the coverage you want to protect both yourself and your belongings. You can reach Farmers Insurance - The Wertzberger Agency by calling 913-383-3276 or by emailing us HERE.


Sources: homeproperties.com; realestate.msn.com; smartmoney.com; zillow.com

4 Reasons to buy life insurance on your kids

Boating and Water Safey

When you’re out on the lake on a sunny, summer day, the last thing on your mind may be safety.  It should be though, as a seemingly perfect day can turn tragic in an instant. There are steps that can be taken to lessen the chances of an accident occurring as a boat operator or passenger.

Take a boating safety course

The first thing you should do is to understand the requirements and regulations of operating a boat. Boating safety courses are offered for all types of recreational boaters of all ages. Qualified volunteer organizations, such as the U.S. Coast Guard Auxiliary, U.S. Power Squadron and others sponsor courses, and many state boating agencies also provide classes.1 An added benefit is that taking a certified safety boating course may qualify you for lower insurance rates.

Perform a vessel check

The goal of a vessel check is to make boating safe for you and any passengers by educating boaters on proper safety and preparation.  For personal pleasure crafts, both the U.S. Coast Guard Auxiliary and the United States Power Squadrons have certified vessel examiners who will perform a free Vessel Safety Check (VSC) at your boat, at a convenient time.2There is no charge for the check, and no consequences if your vessel does not pass. You can request a vessel check here to get started.

Make sure all passengers have life jackets

To meet U.S. Coast Guard requirements, a boat must have a U.S. Coast Guard Approved life jacket for each person aboard.3Make sure children have life jackets that fit them correctly — adult-sized life jackets will not work for children. Any pets that travel onboard should have life jackets too. Life jackets should be tested for wear and buoyancy at least once each year.  Any waterlogged, old/faded or leaky jackets should be discarded.4

Do not drive while impaired

The importance of this cannot be overstated: the use of alcohol is involved in about a third of all recreational boating fatalities.5 The same rules apply on the water as they do for operating a vehicle under the influence of drugs or alcohol, and it is illegal to operate a boat while under the influence of alcohol or drugs in every state. Do not operate a boat under the influence of any substance.

Stay safe and have fun

Recreational boating accidents often increase as the temperature rises. Every year, hundreds of lives are lost, thousands are injured and millions in property damage occurs due to negligence. These accidents are preventable through proper vessel maintenance and following boating training and safety procedures. By performing the necessary safety checks, staying sober and playing it safe, everyone can enjoy a relaxing time out on the water.

With numerous choices and options, Farmers offers a variety of industry-leading Boat insurance packages so you can select the Marine Choice boat insurance package you want. Contact me today to get started.

To discuss how to insure your boat with Farmers, please contact Farmers Insurance - The Wertzberger Agency at 913-33-3276 or email us HERE

1 http://www.uscgboating.org/recreational-boaters/boating-safety-courses.php

2 http://wow.uscgaux.info/content.php?unit=V-DEPT&category=i-want-a-vsc

3 http://www.uscgboating.org/recreational-boaters/life-jacket-wear-wearing-your-life-jacket.php

4 http://www.uscgboating.org/recreational-boaters/life-jacket-wear-wearing-your-life-jacket.php

5 http://www.uscgboating.org/recreational-boaters/boating-under-the-influence.php

General sources:

http://www.safeboatingcouncil.org/

http://wow.uscgaux.info/content.php?unit=V-DEPT&category=i-want-a-vsc

http://www.boatus.org/

Help protect your loved ones’ financial future with Life insurance

A summer’s evening spent by a campfire, the sound of your children’s laughter as they play on the beach, grilling your “famous” burgers at an afternoon picnic ... there are many enjoyable ways to spend a summer weekend, and these events are usually made all the more special with family as part of them. You hope these traditions are passed down, and that your family has many days filled with similar memories in their future.

Unfortunately, simply wanting the best for those you love isn’t enough: no one can guarantee they will always be there to care for loved ones. Life insurance can help protect your family, however, by lessening the financial impact of your loss if your family has to carry on without you.

Life insurance can help loved ones

Life insurance can help protect your spouse and children from potentially devastating financial losses that can result if you were to die prematurely. Too often, when an income earner dies, survivors are forced to make tough financial decisions at a time when they may not be in a position emotionally to do so. Life insurance would provide your survivors a chance to adjust to this change over time, instead of having to look immediately for a new residence or a higher-paying job. Some of the ways life insurance can help your family include:

• Providing income in a time of need:  While life insurance won’t replace you, it can help replace some or all of your income if you die. It can help cover the cost of funeral expenses, be used to pay off debts, and help with day-to-day living expenses such as food, clothing and housing. It can help longer term goals, such college tuition or retirement plans, become a reality.
• Assisting with household needs:  Something that can get overlooked is the financial value a stay-at-home parent provides. The services they provide are invaluable to a family. In the event of the loss of a stay-at-home parent, life insurance can help pay for important household services like childcare, transportation and general household duties.
• Supplying financial benefits during your lifetime:  If you choose Whole Life insurance, the cash value of your policy increases over time and you can access those funds for a variety of needs. 1 These funds can be used to help pay for life events such as buying a home, a wedding, or educational expenses. Whole Life insurance can also provide the ability to take out a loan from your policy at a lower rate than banks offer, to add to an investment portfolio or to supplement your retirement income.

Give those you love a lasting gift

Whether for their family, a spouse or an essential business partner, people purchase life insurance to help those they care about have a more secure financial future. You can do this for those important to you as well. Start a new tradition and make life insurance a part of your family legacy. It may end up being the most valuable one of all. Contact me today and we can get started.

To speak to a representative with Farmers about Life Insurance or other products, call us at Farmers Insurance - The Wertzberger Agency at 913-383-3276 or email us HERE

1Policy 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.

What coverage do I need for my vacation home?

Vacation homes can provide a relaxing getaway from stresses of everyday life. Just as with your primary residence, a vacation home needs to have adequate insurance protection. These types of homes require a different type of property insurance, however. A vacation property isn’t your primary residence, so why insure it like it is?
While it may not be your primary residence, your vacation home still faces potential damage or loss due to fire, wind, storms and severe weather. It is also vulnerable to vandalism and theft during the time it is unused. Because of these risks, not all insurance companies will insure second homes.

Farmers Seasonal and Vacation Home Insurance

Seasonal and Vacation Property insurance from Farmers provides coverage for accidental damage, liability, and loss, as provided in the policy. You can choose a prepackaged policy or customize one to meet your specific situation. Unlike many insurers, Farmers doesn’t require you to insure your primary residence with Farmers: coverage options are available for your seasonal or vacation property regardless of your primary home insurer.

What coverage does Seasonal and Vacation Home Insurance provide?

Just like standard Homeowners Insurance, Seasonal and Vacation Property Home insurance helps offset the costs of repairs, replacement costs and living expenses if something happens to your vacation home due to accidents like fire, lightning, wind-driven water, hail damage or theft.

Additional Specialty Homeowners coverages available through Farmers

Do have a rental property? Do you own a vacant property or one in less than optimal condition? As a landlord, with Farmers you can choose a Landlord or Rental Property insurance package that is a good option for you. You can also customize your policy with extra options to suit your unique situation and help you protect your investment.

If your home’s market value is lower than it would cost to rebuild it, some insurance companies may be reluctant to provide coverage. For older or lower-valued properties, Farmers has created specialty policies specifically for these types of homes.

Helping to meet your coverage needs

Farmers Specialty Property insurance covers additional types of properties in addition to seasonal and vacation properties, providing coverage for homes that may not qualify for typical homeowners coverage, such as vacant homes or rental properties. No matter the type of homeowner’s coverage need you have, chances are Farmers will have a coverage that can help.


With numerous choices and options, Farmers offers a variety of Seasonal and Vacation Property insurance packages. Contact me today and we can discuss your property insurance options.

To speak to a representative with Farmers about Home Insurance or other products, call us at Farmers Insurance - The Wertzberger Agency at 913-383-3276 or email us HERE

Benefits of Life Insurance on Children and Grandchildren

Juvenile life insurance is permanent, affordable insurance that can provide your children or grandchildren with their own life insurance policy as well as benefits above and beyond what your own life insurance policy may offer them.

Why do people insure their children and grandchildren?

There are many reasons:

• A medical exam is typically not required and coverage is guaranteed for life¹, regardless of the future health of the child.
• The cost of insurance for a child is typically less than similar coverage for an adult. Some policies offer an option to purchase additional insurance in the future, regardless of insurability.
• Over time, the policy may accumulate cash value. This cash value can be used to pay future premiums.
• You may withdraw or borrow funds² from the policy generally income tax free.³
• Unlike funds in 529 college savings plans, a juvenile life insurance policy’s cash value doesn’t have to be used specifically for education. It can be used for other purposes such as wedding expenses or a down payment on a home, for example.
• Juvenile life insurance may also helpful for estate planning by providing for the tax-efficient transfer of wealth.  See your estate planning expert for details.

How is it different than college savings plans?

Let’s say you want to accumulate funds for your child or grandchild’s future college tuition. You may consider a 529 savings plan. There may be up-front tax savings which might be attractive, but if your child or grandchild’s college plans change, withdrawal restrictions will generally apply. With limited exceptions, you can only withdraw money that you invest in a 529 plan for eligible higher education expenses without incurring taxes and penalties. In contrast, a permanent life insurance policy’s cash value can be withdrawn or borrowed tax-free by the policy owner for any purpose. It can be used to help the child purchase a car, a home, or even to start a business.

If the child goes to college as planned, under current rules, the cash value that has accumulated in a permanent life policy won’t have to be declared and counted against them when it’s time to qualify for financial aid. Although each educational institution may treat assets held in a 529 plan differently, investing in a 529 plan will generally reduce a student’s eligibility to participate in need-based financial aid.⁴

Consider a non-traditional and versatile gift for your child or grandchild. Let’s talk about how the cash value in a permanent juvenile life insurance policy can potentially provide your children or grandchildren with a lifetime of financial and life insurance options.

For more insurance about life insurance or to start the application process, please contact Farmers Insurance - The Wertzberger Agency at 913-383-3276 or by email HERE.

¹The death benefit is guaranteed according to the terms of the contract and provided that premiums are paid.

²Policy 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.

³Distributions 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.

For 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.

⁴http://www.sec.gov/investor/pubs/intro529.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.
0615-A  6/15

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