Posts Tagged ‘insurance’

ATV’s and Golf Carts

Does your homeowner’s policy cover your ATV?   Does it cover the usage of your golf cart anywhere in your neighborhood?

Answer:  Only when the ATV or golf cart is being used on your residence premise and solely for the maintenance of your property.

What’s the solution? Purchase a specialized policy that provides coverage when your ATV or golf cart is used for pleasure use, whether on or off premise.   Another benefit of covering your ATV or golf cart on a specialized policy is you won’t risk filing a claim on your homeowner’s policy. ATV or golf cart policies can average from $100-$250.

Will your auto policy cover your ATV, boat, golf cart or motorcycle if something should happen while you are transporting the recreational vehicle on the road?

Answer: An auto policy will cover the damage caused by any of these while being pulled behind your vehicle.  It does not cover damage to the ATV, boat, golf cart or motorcycle in this scenario.

What’s the solution?  A specialized policy offers physical damage for the ATV or golf cart, liability coverage up to $500,000 and covers  recreational use and while away from your residence.  Medical payments coverage is offered up to $25,000 – again giving you coverage for recreational use and while away from your residence. 

Jet Ski

Is my jet ski covered on my home policy? 

Answer:  No

What’s the solution: Purchase a specialized policy to cover personal liability and physical damage for your jet ski.

Am I covered if I rent a jet ski while on vacation?

Answer:  No

What’s the solution:  To ensure you are covered in the event of a loss, purchase the insurance offered by the rental company where you get the jet ski.

For more information, call Turner Agency Insurance at 288-9513 or email us at turner@turneragencyinc.com.

If you drive a company car, you may want to be sure you are properly insured in the event of an accident.  A Non‐Owners policy gives you personal liability and uninsured coverage which protects you individually.

Ask yourself the following:

• Do you drive a company car? If so, how does your company’s commercial auto policy respond if you are named individually in a law suit from an auto accident?
• Are you, your spouse, and/or your children allowed to use your company car for personal use?
• Let’s say you drive a company vehicle, rent a car on vacation, and you are involved in an accident. How would your company’s commercial auto policy respond if you are named in a law suit from an accident?
• Do you ever borrow a friend’s car? If so, have you thought about their liability limits? What if your friend’s insurance company does not cover you as an unlisted driver?
• oes your child at college have a friend’s car available for their “regular” use?

If the answer to any of the above questions is “Yes,” then you may need a non‐owned auto policy to provide coverage in the above situations. Other benefits of a non‐owned insurance policy include:

• If you decide to purchase a car in the future, your new carrier may choose to surcharge you at first for having no prior coverage if you are without this policy. If you carry liability on a non‐owners policy, you could avoid paying higher insurance premiums for your personal auto insurance.
• You may qualify for a discount on your homeowner’s policy if you have a Non‐Owned policy with the same insurance company.
• If you have an Umbrella policy, it will work with the Non‐Owners policy.  This means you would have an additional $1,000,000 or more of protection.

If you drive a company car and your spouse drives a personally owned car, there is another solution for you. In this case, you can purchase an endorsement called “Extended Non‐Owned”. It’s fairly inexpensive and offers the same type of protection a Non‐Owned policy would give you.

Contact us at 288-9513 or turner@turneragencyinc.com to see how easy it is to put a Non‐Owners policy in place or to add Extended Non‐Owned to your personal policy. The premiums are reasonable and you may even save money on your homeowner’s insurance by qualifying for an account discount.

The iconic 1985 comedy “Summer Rental” starring John Candy is a hilarious portrait of Jack Chester, a family-man dedicated to giving his family the best beach vacation possible. It’s also full of important insurance lessons. Here’s a quick rundown of what is, and is not, covered. Review these with us before going on vacation this summer so you know whether or not you’re protected.

Renting a vacation home

• Personal liability coverage follows you anywhere in the world.
• Personal property coverage would apply as well, but coverage for personal property of guests is limited.
• Should the vacation home, hotel, cottage, etc. be damaged or uninhabitable, there is no Loss of Use coverage under the standard homeowner’s policy.
• Damage to property of others (such as the building itself or its contents) is limited to $1,000 subject to policy exclusions.

Renting watercraft

• One of the most common rental scenarios involves jet skis. ISO’s standard homeowner’s policy provides liability coverage for inboard or inboard/outboard watercraft that has 50 HP or less, BUT This would exclude many, if not most, rented jet skis.
• The standard ISO homeowner’s policy provides liability coverage for rented sailboats less than 26 feet in length and borrowed sailboats (i.e. not owned or rented) of any length.
• No coverage for racing events – sorry Jack!
• Most non-motorized watercraft such as kayaks, rafts, canoes, and rowboats should have some coverage, but it’s always best to check prior to renting.

What can we learn from Jack Chester? Don’t fall asleep in the sun, make sure your vacation home isn’t also the public beach access, and do your homework before embarking on your next family-fun adventure. Take a few minutes and check us before you leave– it’s always better to ask if you have coverage beforehand.

Source:  Central Insurance

Hail to the chief! If you’re in the market for a new car, depending on what type of vehicle you’re looking for, President’s Day Weekend may be the time to find it. In addition to certain discounts from the automakers, dealerships also may be offering deals or incentives to buy. But whether you’re buying your first car or trading in for a “Presidential” upgrade, it’s important to keep in mind a few things about auto insurance when shopping for a new car.
 
First, if you’re serious about buying a new car (or a new-to-you used car!), before you even step onto a dealer’s lot, let us know you’ll be buying a car.  If you have a specific make and model in mind we may be able to give you a quote on the price of insurance coverage, so that you can factor it into your budget and decision making process.
 
Second, you cannot drive the car off of the lot without insurance coverage, so making arrangements with with us ahead of time can save you time and effort scrambling to secure coverage while at the dealership.
 
Here are a few more things to consider…
 

Do you already have insurance?
 
Yes- If you already have auto insurance on your existing car and are trading it in, some insurance companies will cover your new car for up to 30 days before changing to a new policy, but make sure you ask if your current company will provide coverage on the new car until you’re ready to make separate arrangements. If your old car or trade-in doesn’t have collision coverage and you’re financing the new car, the lending company will very likely require that you add collision coverage. Check with us to see if your new car is eligible for any insurance discounts your previous car wasn’t- some insurance companies provide discounts for certain safety features and anti-theft devices.
 
No- If this is your first car you’ll definitely want to make arrangements with us ahead of time. If you already have homeowners or renters insurance, you may be eligible for discounts on premium by adding an auto policy with the same company.  
 
Test Drives
 
As a smart shopper you may want to literally kick the tires on a few models and visit a few dealerships before making your decision. In fact, you’ll probably want to take a prospective car out for a test drive. But what happens if you get into an accident during your test drive?
 
There are a lot of variables at play when you test drive a car. First of all, even though the dealer may have insurance on the vehicles, do not assume that you are absolved of all of the risk of taking the car for a test drive. Understand what insurance coverage you have and what insurance coverage may be required by your state or the dealership before taking a test drive.

Make sure that the dealer assures you that if you do have an accident and damage the car, their insurance company will not come after you for reimbursement. Most garage policies (which insure the cars for the dealership) allow the dealer to waive subrogation in advance (in other words coming after you for the reimbursement).
 
Shopping for and buying a new car can be fun, and know that you can call us anytime about coverage questions.  We will help ease the buying process.

On November 16, 2012, the South Carolina Workers Compensation Committee (SCWCC) announced a program to assist general contractors in insuring its subcontractors maintain coverage. A general contractor may now register an e-mail address with the Commission and be notified by e-mail when a subcontractor fails to maintain WC insurance. This program is provided free of charge and was developed with the assistance of the SC Home Builders Self Insurers Fund.

Visit the SCWCC website at http://www.wcc.sc.gov for more information and to obtain a copy of the “SCWCC Lapse in Insurance Coverage Notification User Guide” which provides complete instructions about how to register and participate.

You may have noticed an increase in your homeowner’s insurance premiums. You’re not alone – increases are happening across the country.

Why the increase? In a word: weather. Catastrophic weather events in the second quarter (April, May, and June) of 2011 exceeded $15 billion countrywide.

Consider the following:

• Hurricane Irene caused record losses in the eastern United States
• Wind and hail caused over 20,000 severe weather reports in just the first half of 2011
• Tornado outbreaks this spring, most significantly in Joplin, Missouri and Tuscaloosa, Alabama.
• Wildfires in Arizona, New Mexico, and Texas destroyed over 2,000 homes and losses are estimated to exceed $250 million
• Ice and snow from Texas to New England!
• Earthquakes in various places, with the most significant occurring in Virginia

These catastrophic events have also put a demand on the building industry for labor and materials, driving up reconstruction and repair costs.

So while the market value – the amount you could expect someone to pay to buy your home – may have dropped, the cost to rebuild your home at the same location with similar materials – the replacement cost – has increased.

Because you insure your home to the replacement cost, not the market value, the amount of coverage you need to be fully protected, and thus your premiums, are going up. So what can you do?

There are several ways you can lower your insurance premiums.

Ask us about…

• Increasing your deductibles. If you assume a greater part of the risk by increasing your deductible, you can lower your premiums.
• Insuring your auto and home with the same company if you don’t already.
• Don’t move your coverage from company to company. Many companies will give you loyalty credit for staying with them!
• Protecting your home. Install fire, burglar, and smoke alarms in your home – discounts are available in most states.

An insurance policy is a promise…a promise to help you recover from your losses. Part of this promise is assuring that we will have the resources available to help you when you need us. While we hope you never experience a loss, be assured we will be here for you with outstanding claims service and the financial stability to help you recover quickly.

Please contact us with your questions or comments or to learn more about the benefits your homeowners policy provides you and your family.

Having a baby can be a very exciting, emotional, and exhausting experience for a family, and while most parents remember a lot of the preparation details — such assembling the crib and installing child-safety locks — updating their insurance may not be the first thing that comes to mind.  Pictured to the left is our own Robin Hawkins and her new baby, Reese. 

Whether you’re expecting, a new parent, or you know someone who is, it’s important to have the right insurance. The Turner Agency wants you and your growing family to be protected from all life’s possibilities, so we’re providing you an insurance checklist – no assembly required! – for expecting parents.

 Health Insurance

1. When you find out you’re pregnant, make sure your health insurance plan covers prenatal and maternity health costs. (An employer with 15 or more employees is required by federal law to provide coverage for pregnancy-related expenses.)

 2. Check your policy to find out if you need preauthorization for certain prenatal or maternity health costs, such as ultrasounds and amniocentesis.

 3. Call your health insurance company to ensure your obstetrician, doctor, and/or midwife and hospital or birthing center are both in-network. If they’re out-of-network, there may be additional charges for your health-care expenses.

 4.  Contact your insurance provider to find out how to add your new baby to your insurance plan. 

Life/Disability Insurance

1. If you and your spouse don’t already have a life insurance policy in place, a new baby is a good time to take out a policy. Most parents have a term life insurance policy, which usually is the least expensive option and provides coverage for a fixed amount of time at a set premium. Usually the beneficiary of this type of policy is a spouse.  However, single parents may want to list a child or a family member.

 2. If you or your spouse become disabled and one of you is the primary breadwinner for the household, you may want to consider long-term disability insurance. This type of insurance will provide your family with financial support if you are disabled and cannot work. Some employers offer this coverage, but you should check to make sure you’re covered and find out if you have enough coverage.

 Homeowner’s Insurance

A baby comes with a lot of new stuff, which means you probably need to update your homeowner’s insurance policy to includ enough coverage to replace everything in your nursery. If your new bundle of joy doesn’t have a state-of-the-art crib or fancy diaper genie, you may not need to increase your coverage, but you should check with The Turner Agency or your Trusted Choice independent insurance agent to find out.

Auto Insurance

Unlike other types of insurance, which go up with a new addition, your auto insurance will likely stay the same. However, a major life milestone, such as having a baby, can be an indicator of increased responsibility, which can actually lead to a decrease in rates. If you’re expecting or a new parent, contact The Turner Agency or your Trusted Choice independent insurance agent to find out if your rates can be reduced.

 If you have any questions, need help getting coverage, or simply want to double-check your insurance policies, we or your Trusted Choice independent insurance agent are happy to help … as long as you don’t ask us to baby-sit! (Well, Anne Turner would probably accept…)

Haul out the holly, string up the lights, and hang the stockings by the chimney (with care)! The holiday season is here, and we are decking the halls with all kinds of festive decorations.

As your Trusted Choice® independent insurance agent, we want to ensure your holidays are as merry and bright as possible, so before you adorn your mantle with garland and dangle mistletoe over your door, please read these holiday decorating safety tips.

Christmas trees: Trimming the tree is the main decorating event in many households, but the tree can become a fire hazard if it’s dried out. Remember to replenish the water in your tree stand on a daily basis, so that your tree remains healthy and hydrated for the duration of the holiday season. (Also, check out this article  for more Christmas tree safety tips.) Holiday foliage: Poinsettias, holly, Jerusalem cherries, and mistletoe are all toxic if ingested. If you have pets or small children in the house, avoid using these decorations or opt for the artificial versions.

Holiday foliage: Poinsettias, holly, Jerusalem cherries, and mistletoe are all toxic if ingested. If you have pets or small children in the house, avoid using these decorations or opt for the artificial versions.

Artificial snow: If you’re longing for a white Christmas, spraying windows with artificial snow can give your house a frosty glow – even if you live in a warm climate. However, spray-on snow can irritate your lungs, so make sure to follow the directions carefully and only use the spray in well-ventilated areas.

Fireplaces: Adorning the mantle with garlands, stockings, and other decorations is a holiday tradition in many households, but keep these trimmings clear of working fireplaces. You should also be careful when using fire salts, which produce colored flames, since they are highly toxic if ingested.

Lights: Before hanging lights indoors or outdoors, check the strings for cracked sockets, broken bulbs, or frayed/bare wires. Also, only use lights that are approved by a national testing lab, such as UL or ETL/ITSNA. Do not use electric lights on metallic trees because faulty lights can cause branches to become charged and possibly electrocute someone. If you’re using outdoor lights, make sure they are approved for that use and plugged into a ground-fault circuit interrupter device.

Candles: Flickering candlelight can give your home a cozy, warm glow, but candles cause more than 11,000 fires every year, according to the U.S. Consumer Product Safety Commission. If you’re using candles to decorate for the holidays, keep a close eye on them when they’re lit, and don’t leave the room without extinguishing the flames. Never put a lit candle on a tree.

As Thanksgiving approaches, many people will celebrate the holiday by giving back to their community. Volunteering time or services to a company or non-profit organization may be a selfless act of generosity, but these acts of goodwill can also expose volunteers to possible lawsuits if they are making decisions on behalf of the organizations or company. Fortunately, there is a way to mitigate the exposure to lawsuits and continue lending a hand.

A directors and officers (D&O) insurance policy protects directors and officers from liability risks associated with working or volunteering on the board of an organization or company. These risks can include negligent acts or omissions, antitrust violations, wrongful termination, libel and slander, and misleading statements that result in a lawsuit against the company. Whether you’re working or volunteering as a director or officer, it’s important to make sure you’re protected from these risks with a D&O policy.

Directors and officers can be sued by the company or organization they work or volunteer for or by other current or former directors and officers, employees, shareholders, investors, lenders, vendors, customers, competitors, various government officials, such as state attorney generals, the IRS and state and federal labor departments, consumer groups and numerous other third parties. While the entities that can sue a board member are numerous, the situations in which lawsuits can be filed are limitless. Here are just a few examples of real D&O claims from the Independent Insurance Agents & Brokers of America:

 * A minority shareholder in a family-owned electrical contracting business sued the two major shareholders on behalf of the company, claiming they breached their fiduciary duties. The minority shareholder claimed that the majority shareholders, by drawing excessively large salaries and bonuses, caused the company to lose money. The court ruled in favor of the majority shareholders, but the defense costs amounted to six figures.

* A mid-sized manufacturing firm hired an employee away from one of its competitors, bringing the person on as an officer. A year later, that new officer’s ex-employer sued the officer and his new firm, alleging that the officer misappropriated trade secrets and violated certain provisions of his termination agreement.

 *The plaintiff filed a complaint against their competitor alleging that a former employee, now working at the competition, engaged in unauthorized use of confidential and proprietary information and committed other acts of unfair competition. As a result, the plaintiff alleged it has suffered irreparable and immediate injury. In addition, the plaintiff alleged that the defendant has possession of its confidential information and intellectual property.

 There are several types of D&O insurance that can protect individuals from these situations. These coverages include corporate reimbursement coverage, which protects directors and officers of a company or organization; side-A coverage for directors and officers who are not indemnified by a firm; and entity coverage for protection against claims made against a company.

D&O policies can also be written to include coverage for employment practices liability for protection against lawsuits for wrongfully terminating an employee or sexual harassment.

Before you start working or volunteering in a director or officer capacity, you should check with the company or organization to make sure it has a D&O insurance policy in place. If you’re serving on a board and you’re unsure about whether you’re protected, contact us or a Trusted Choice® independent insurance agent to answer any questions you have about coverage and risk exposure.