Water Will Find a Way

Water damage claims in Canada now make up 53% of all property insurance losses.*
As a former Insurance Broker I can attest to this statistic and even suggest that if all damage to property were reported & covered, that the number would be even higher. Why this growing trend? This is truly the fault of our own progression & modernization. If you consider that at only 100 years ago almost no one had water running or electricity into their homes, you can understand that damage from water was rare & in turn damage from fire was high. Electrical code (if you did have electricity running to your home) was non-existent & lighting your way by oil lamp & heating your house with firewood in a cast iron stove was the norm.
In this relatively short period of time we have evolved from indoor plumbing being a novelty of the rich to living in homes which in some cases have more bathrooms than bedrooms, appliances that wash our clothes & dishes and Hot water tanks sitting in our basements. This is the new normal. And although our electrical & heating prowess has grown to an art form in terms of safety and security, we haven't yet solved the water puzzle.
I recall years ago as I was navigating the ropes as a first time homeowner, I was wrestling with a leaky garage. Every time it rained the water entered and soaked the floor. My wise neighbor was having a laugh at the many attempts I had made to band aid the situation. I was sure I could avoid what I though was the large bill it would take to properly re mediate the situation. Being a good neighbor he didn't laugh too hard but instead offered the patient insight that I'll always remember; he said to me "Water will find a way". And it did, through every contraption, patch & quick fix I could throw at it.
I was lucky in the end that the water never did come into the house through the garage & after the painful reality of defeat had sunk in, I opened up my wallet and the phone book to call in a professional. I was however not so luck a few years ago when the washing machine malfunctioned a flooded my entire basement in 4 inches of water. I was so busy concerned about water coming in from the outside I never considered I'd get hit from the inside. My neighbors words echoed true: Water had found a way!
It turned out a simple $6 hose had burst and caused $25,000 in damage. (by the way: the cost of the upgraded braided hose I could have bought at the hardware store instead was only $12). Yes, two months and too many headaches later, I was able to rent out my basement again. Not only had I displaced my tenant and had to find a new one, I lost the income from rents, the deductible and my claims-free discount on my insurance policy (not mentioned the hours I spent on the loss salvaging property from the flooded basement).
Now my own personal mini-disaster described above is all too common for building owners of all types. As mentioned above 53% of all property damage claims are coming from water damage of one sort or another. This includes, burst pipes, storm damage, flood, malfunctioning appliances, faulty building envelope construction, sewer back-up losses, the list goes on. As building owners you can understand the potentially devastating effect water damage can have on your investment. Rents stop but bills continue to pile up. Tenants leave & find new premises to rent or lease. The mortgage still needs payments as do the utilities. Consider the even higher costs when the water is from grey & black water sources. Aside from the property damage you now have to consider mold and other airborne pathogens that can contaminate the property and even the air. Surely the solution isn't to knock down every building and reconstruct with today's latest technology in plumbing and water damage prevention. In my case a $12.00 investment would have saved $25,000.
Here's a few loss prevention techniques you can implement in your building maintenance program:
- keep floor drains clear of obstruction;
- ensure that there is proper grading around your building;
- install a sump pump;
- install back flow valves or plugs for drains, toilets and other sewer connections to prevent water from entering the home;
- for vacant buildings: drain the plumbing & arrange to have someone come in to ensure no signs of leakage has occurred. It is important to keep the heat on to avoid frozen pipes especially in older buildings.
- check water connections, hoses, pipes for signs of wear and tear.
Now there is no fool-proof way to ensure water damage will never occur. But if it does have on hand contact information for a Restoration Company as well as your insurance broker's phone number. Whether insured or not, it is important for property owners and managers to document damage with photographs or video, and immediately, to begin loss mitigation procedures themselves; or hire a qualified contractor to do this on their behalf. It is totally inappropriate to put off mitigation while waiting for an insurance claims representative to arrive on the scene to evaluate the loss. By that time, in all probability sufficient time will have passed to grow and amplify microorganisms, which may not be covered by insurance. Loss mitigation is defined by insurance policies as "reasonable and prudent measures designed to preserve, protect and secure property from further damage."
We do this because we know "water will find a way."
* Insurance Bureau of Canada (2009 stats cited)

Marine Underwriters and Wharfinger's Liability Insurance

When most people think of insurance for the marine and shipping industry, they think of vessels on the water and the cargo that they carry. While the shipping industry receives a lot of visibility and attention, there is more to day-to-day shipping operations than watercraft traversing seas to a delivery destination. The same marine underwriters who can provide hull insurance and marine insurance are also instrumental in helping wharfingers protect themselves against a variety of claims that take place as a result of business activities.
Wharf Operations
Activities abound at wharf and dock facilities where vessels are loaded and unloaded daily. Ships come into port and rely upon stevedores and other shore-based personnel to organize and load cargo onto vessels in keeping with their manifests and container delivery orders. These ships also need to refuel and restock their supplies before the next time they venture out to sea. Workers are responsible for loading the waiting cargo that has recently arrived from trucks, containers and railcars onto the vessels when they come into port. This involves small and heavy equipment operation, such as loaders, forklifts and cranes. Conveyors are also used in transporting cargo from the docks to the ships and barges. Vessels tie up at the wharf for a short or long period of time in between arrival and departure. Some require repairs, while others just need a place to stop and wait for new cargo to arrive and be loaded before they can leave on their next voyage.
Incidents
Since wharves and docks are busy places, there are often a multitude of different activities for various vessels happening at the same time. While one crew is loading a container ship, another may be unloading a barge. Even with strict attention paid to safety regulations and company procedures, incidents and accidents do sometimes occur. They may involve personal injury, unmanned breakaways and equipment failures causing damage to cargo and vessels.
Claims
While most vessels have their own marine insurance for incidents and accidents, sometimes wharf owners find themselves involved in claims regarding damage to cargo, equipment and ships at or on their docks and facilities. They may need insurance available through marine underwriters to cover claims for wreck removal, cargo damage and equipment replacement. Custom liability insurance policies can be created to offer peace of mind to wharf owners which will cover unexpected issues that may arise in day-to-day operations.

The National Flood Forum Reports Variations in the Handling of Flood Victims by Insurance Companies

Some home owners will not realise that some insurers are offering cheap home insurance and cheap landlord's home insurance by removing flood protection altogether, or increasing the excess beyond what would be considered reasonable and affordable.
No consistency?
The National Flood Forum reports, the problem of neighbours getting different flood insurance offers is widespread.
If you decide to compare your insurance policy with neighbours, please ensure that you not only compare the price - but consider all of the factors which have contributed to that price - for example - specified items, or high value contents. Landlords Home Insurance is priced differently to regular Home Insurance. The age of the policy holder and previous claims will also have an impact. It is of concern that The National Flood Forum is encouraging neighbours to think that everyone on the same street should be paying similar premiums, home insurance varies from home to home just like car insurance does.
Risk Characteristics
Homes which look similar may have very different risks attached. For example some properties will subside while the house next door does not. Every property has different security features (key locks on the window and burglar alarms). Properties may have different materials used in the construction (brick or stone, slate or tile). Policies can be bedroom rated; some insurers assess the risk of flooding by the height above the water table, it varies greatly how insurers will assess the risk and quote. The main reason however for neighbour's policies all having different premiums despite having similar properties usually comes down to the value of the contents, and the personal circumstances of the policy holder including previous claims.
Whilst these factors all affect the premium understandably, it does not excuse insurers for increasing flood excesses without making the policy holder clear about what they will be expected to pay in the event of a claim for flooding, or removing and reducing the level of flood cover altogether! It most certainly doesn't excuse the insurer for treating flood victims with poor customer service or delays. This is really what consumers should focus on - Am I adequately covered? Anyone who lives in a flood risk area should be aware of it, and they ought to focus on what is included in the Home Insurance policy - whether it be Landlords Home Insurance or regular Home Insurance. If you have a cheap home insurance policy - and have sacrificed some quality to balance the premium - you must be prepared in the event of a claim to perhaps not be as well protected as you would like. It is essential that you take advice and understand fully what is included in your policy and what the claims procedures are - this will eliminate nasty surprises! I am worried for flood victims in the future with regards to becoming uninsurable. Premiums will become unaffordable for properties and policy holders who have made flood claims, especially in more high risk areas.

Geography, Flood Risks and Distribution Business Insurance

The transport of products and goods and the risks to storage have always been determined by the geography, more specifically the topography, of a particular location.
The physical location in space by businesses involved in the movement of goods, are determined by market factors such as population and demand, such that the physical risk location is usually found at the most appropriate place close to the market and main communication routes, to satisfy this demand.
For example, Warehouses have traditionally been built next to water courses such as rivers or canals to supply hinterlands and regions, or around ports and ocean harbours for shipping imports and exports temporary storage.
After industrialisation railway hubs then became surrounded with storage and shipping facilities for internal regional supply. Often the largest existing town, built on a river, would become the central storage centre.
In more recent years large warehousing and distribution centres have also grown up around airports or near motorway intersections, which both require large flat expanses of land.
Many towns have often grown in response to supplying these warehousing functions and include businesses that rely upon the physical presence of the distributors.
It is these very historical physical locations that the distribution process requires, that are now threatening the availability and costs of business insurance for enterprises such as warehouses, wholesalers and storage facilities, due to the increased frequency of recent extreme weather or geophysical events.
In the UK over 75% of warehouses and industrial centres or parks, are built on river floodplains or coastal locations. These properties are currently at a much higher risk of serious water damage and flooding, on a far more frequent scale, than was previously calculated by underwriters.
Over the last ten years large losses have been suffered by insurance companies that underwrite warehouses close to rivers, the length and breadth of the country.
Since the 2002 Glasgow floods, serious loss to stored goods and transport running into the hundreds of millions of pounds, has occurred at places as diverse as Carlisle, Cumbria, Kent, Somerset, Severn Valley, Tewkesbury, Thames Valley, Sheffield, Northern Ireland, East Yorkshire, North Wales and The Midlands, to name just a few of the larger floods.
This high level of loss and claims has inevitably led to more on site risk assessment surveys before confirming cover, less choice of provider, inflationary premiums and more policy clauses and exclusions to cover.
Dependant businesses who supply or are supplied by the suppliers warehouses locally, have also had the costs of insurance increase, both by perhaps being flooded themselves, or seeing the costs of their business interruption and loss of profits cover increase, due to more claims for failures in the supply chain caused by flooding.
Moving forward, both Insurance policy holders and those providing the cover need to adapt in order to manage and reduce flooding risks and keep policy premiums at a reasonable cost level.
In order to achieve this many insurance companies will now insist on more active risk management. For example, policies may include wordings that all goods stored in an 'at risk' warehouse, must be on water resistance dexion type shelving at a certain height above the maximum expected flood level as determined by the Government hydrological flood risk map. Or that all motor fleets at risk must be moved to safer storage areas on higher ground.
These types of clauses whilst enabling warehouse cover to be issued, have led to increased business costs to implement.
Many properties nationwide are at risk due to the nature of local planning decisions and water management policies. Although the UK Government has committed further spending to flood protection schemes, the impact to date has been small.
Whilst flood risk in the UK, unlike in the USA, has yet to become a fundamental risk controlled by Government, the failure of the UK insurance industry to provide adequate cover for domestics risks such as home insurance for a large and growing proportion of the population, coupled with rising business insurance costs and more frequent extreme weather, may soon force the Government to offer some type of national flood insurance program, alongside its responsibility to manage runoff.

5 Easy Ways to Making a Successful Home Insurance Claim

If you've taken out insurance and something happens like an accident, fire, theft or flood then the likelihood is you need to make a home insurance claim.
This can be a very worrying time and it is imperative you do this properly, otherwise you could find your claim rejected. This is the last thing you want after paying your premiums for years!
If you need to make an insurance claim then you need to get in touch with your insurance provider ASAP and ask them to post or email you a claim form.
Also, if the claim is of a significant value (usually over £3000) it might be wise to employ the services of a loss assessor. They specialise in helping you get your full entitlement under the terms and conditions of your insurance policy - and they usually work on a small percentage of the settlement, meaning it's in their interests to get you as high a settlement as possible.
When you have received the claim form make sure you fill it in properly and make sure you keep a duplicate for yourself.
Check the following factors before you send in your claim:

1. You're definitely protected for what you're declaring for.
2. You're within the deadline for making a claim.
3. How much the excess is. If you have a high excess, and the claim is small, it may not even be worth making an insurance claim.
4. Check the dreaded small print, and make sure there isn't any criteria that could stop you from claiming (the type of locks etc).
5. Whether it's a new for old plan. The insurance company can deduct for wear and tear, so the amount you get may be less than the cost of replacing them new.

You'll need to include duplicates of all certification that will help your claim, such as invoices and receipts. Be sure to retain copies of these in case your insurance provider turns down your claim.
Sometimes your insurance provider may also ask if you have other policies (such as contents insurance) in place. It is very important you let your provider have these details on any additional cover.
Perhaps the most important piece of advice is not to overstate or embellish your insurance claim. We have seen many instances where this has resulted in a rejected claim, or a reduced settlement.
Do you always have to make an insurance claim?
You don't have to claim on your insurance, even if you're eligible to do so. In some cases, if your claim is relatively small, you may decide not to as your future rates could increase by more than the quantity you have stated.
Important: even if you don't want to declare on your insurance coverage, you must always tell your insurance coverage provider about an incident. If you don't report it, you might discover that this results in problems further down the line.

Dean Foster is an insurance claim expert, and the owner of Foster & Rowe Ltd - the UK's leading Loss Assessor.
After 20 years of working for some of the top loss adjusting companies, we became "poacher turned gamekeeper" and represent the policy holders interests only. We know exactly how your insurance company will try and settle your claim for less than what you are entitled to, and we use our knowledge and experience to get you your highest possible settlement.

Why Building Insurance Subsidence Cover Is Imperative For Any Property Suffering From Sinking

he worst thing about this type of situation is the fact that you may well have moved into a house in good faith without knowing anything about the problems it either already had or acquired in the future. Fortunately, if this is the situation then you will be able to qualify for special cover, but you may have to agree on a higher rate of excess. This of course depends on a number of different factors but if you are unsure it is better to ask your policy company.
Meanwhile, as policies do tend to vary from provider to provider you will be looking at in the region of around one thousand pounds in order to be fully protected. In this way, if you ever have to actually make a claim on any sinking issues that affect your abode then unfortunately you will be hit with a significant amount of money to pay. Obviously you will need to fork out relatively quickly and you should also be aware that, if your home has a much greater level of landslip or sinking, you will often have no other alternative but to pay the premium - however, remember that the costs of repair will be much more!
Ultimately, it's far better to be safe than sorry - it's a mantra that has got plenty of people out of sticky situations in the past and it will serve you as well. Before you buy a property, it might be worth having someone carry out a survey on it in order to ensure that it doesn't have any problems that might come back to bite you in the future. If you currently own a home that has landslip then you need to make sure that you enquire about the right building insurance subsidence protection. In spite of the cost, having the right protection is definitely the way to go - ensure you do it well in advance of buying your home or buy it straight away if something goes awry. You don't want to wake up one day in the bowels of the earth - it's not a particularly hospitable environment!
At present, you have the chance to choose from a wide variety of companies on the web who will be able to provide this type of cover as well as historic home insurance. For historic home insurance, this could affect anyone who may own a stately property or a listed building or even castle. This is important if you are part of a group or organisation (such as the National Trust) which looks after stately homes or historical buildings. Some companies can tailor the specific requirements of the policy according to your needs so it is best to enquire. This type of insurance might also be applicable to the likes of museums and galleries who will often be listed buildings and have various historical artefacts and valuable items contained within them.

When Is Cat Health Insurance Necessary?

If you own one or more cats, you may occasionally wonder if and when cat health insurance is ever necessity. Most cat owners who keep their cats indoors often believe that cat health insurance won't be anything they need to seriously consider because their pet has no access to going outside and are taken care of with regular feedings, vaccinations, and a comfortable environment in which to play and rest. Unfortunately, many times this belief often leads to unexpectedly catastrophic events that mean the early demise of a beloved family member.
The truth is that accidents and illnesses can occur at any time no matter how well protected or taken care of your cat is. Our feline friends are notoriously quick and can often dart out of a partially open door before we even realize they are close. Once outside they are susceptible to fleas, ticks, illnesses carried by other animals, animal attacks, and injuries sustained from running into the path of oncoming traffic. Even inside the confines of your home, a kitty may face an unexpected injury through no fault of your own. Without a cat health insurance plan in place to cover what can amount to costly medical care, the outcome of these situations results in the unfortunate loss of your pet.
Another thing to consider as a cat owner is age related illnesses. Once your cat reaches the age of 7, he is considered to be middle to senior age. At this age and throughout the following years, your pet may begin to slow down and show signs of aging that include:
• Decreased appetite
• Lethargy
• A decrease in agility and the ability to groom as they once did.
Your cat may even begin to have bathroom issues or show even more serious signs of age related conditions like diabetes and heart disease. These are the years that having a great cat health insurance already in place will make it easier for you and your pet to enjoy their senior years as happily as you both can. Cat health insurance will make it easier for you to be able to afford more routine checkups, as needed, when your aging pet develops the health issues related to advanced age, allowing him to enjoy a great quality of life for a longer period of time.
It's hard to consider the end of a life, whether it is a human family member or a furry family member. Some people tend to put off cat health insurance and regular checkups because they don't want to think about the end of their cat's life. But, when you are faced with the inevitable, because you do want your kitty to live a long, happy life, it just makes the most sense to have a plan in place that can help them do that.
Cat health insurance companies are more available than ever and more times than not you can find a plan that will easily fit into your budget, some costing less monthly then a single trip to a fast food place for a burger and fries. With quality care and lots of love and affection, your treasured family member can look forward to a lifespan that could reach as much as 15-20 years.

Factors to Consider Before Getting Pet Insurance

Caring for an animal is more than just providing them with shelter and food. It also means ensuring that they are in good health. As a pet owner, you have a responsibility to bring your beloved animal to the veterinarian for regular health assessments. You also have to make sure that they receive their vaccinations. In case your pet gets sick, you also have to provide them with the best medical care possible. All these can affect your finances.
If you want to provide the best medical treatment for your beloved pet, then you have to be prepared for the expenses that it entails. Thankfully, you have the option to get pet insurance. Pet insurance can help you afford the veterinary care that your pet needs, and help alleviate the expenses needed for your pet's health. But what are the factors you need to consider when looking for the best pest insurance plans?
The Cost Of The Insurance Plan
Remember that when choosing a pet insurance plan, you need to make sure that it can provide you with the right amount of coverage. It must also fit your budget. If an insurance company promises high payouts, you must look at the cost of the plan. Do you have to raise your deductible just to afford it?
The Maximum Payout
Maximum payout refers to the maximum reimbursement that the insurance company is willing to provide you. There are five types of maximum payouts.

• Per Incident: This is the amount of money that the company will reimburse per illness or injury. Once you reach the maximum payout per incident, you will no longer receive any reimbursement for that particular illness or accident.
• Yearly Payout: This is the amount of money that the company is willing to reimburse every year. Once you reach the maximum yearly payout, you won't be reimbursed for the rest of the year.
• Lifetime Payout: This refers to the reimbursement given by the company during the lifetime of your pet. If you reach the maximum lifetime payout, your pet will no longer be insured by the company.
• Per Body System: This refers to the reimbursement for each body system, such as nervous system and respiratory system. If you reach the limit, you will no longer be reimbursed for any injury or illness related to that specific body system.
• Predetermined Benefit Schedule: The reimbursement given to you based on the listed fee schedule. Before getting an insurance plan with this payout, you need to review the fee schedule.

The Insurance Coverage
Pet insurance covers various types of pet illness and injuries. If you are looking for the best insurance policy for your beloved pet, it must cover essential components, such as common medical conditions, cancer, chronic disease, and congenital and hereditary diseases.

Boat Insurance to Secure Your Boats

Insurance, in any form, is a blessing in disguise! It safeguards you and your possessions in times of need and distress. Hence, entities and possessions that are invaluable and priceless to you must be insured well ahead in time. An insurance policy will ensure that you or your priceless entity is secure and covered during mishaps, thefts or other incidents. Insurance comes in all forms. Whether it is insuring your own body parts like eyes, kidneys, lungs etc or insurance of your house; whether it is the insurance of your own life so that your family members can get monetary aid when you are not with them or insuring your car or boat to protect in case it gets damaged due to accidents or theft; all types of insurance exist and are very much in demand by the futuristic people. Providing incomparable and immaculate boat insurance quotes and boat insurance policies to people for safeguarding their belongings (especially boats), is insurance companies!
Facts about insurance quotes:
Just like any other kind of insurance, the expensive and articulate boats and ships too can be insured. If you are a proud owner of a lavish boat or a ship or a yacht or a sail; then you should not go anywhere else other than insurance companies for getting the best insurance quotes and availing the most customer friendly sail boat insurance and other boat insurance policies.
Now you can keep your boats and sails in safe hands and under all time coverage by purchasing the sail boat insurance policies and benefits from insurance companies. This renowned boat policies organization will facilitate you with a range of economical insurance quotes that will certainly not burn a hole in your pocket and can be availed with other perks as well.
Tips and tricks for getting the best insurance policies:
When you are on the mission of availing the best boat insurance, it can be a very confusing and challenging task. Keep the following tricks and points in mind to sail successfully in the insurance sea:
• Always compare and contrast the boat protection quotes and prices of the insurance policies being offered. Initially, you might be tempted by the extremely cheap rates being offered. But don't get lured by what you hear. Scan through the terms as well as conditions vigorously before purchasing the policy.
• Try to hire or be in touch with a lawyer before you buy sail boat protection. A lawyer will help you in understanding the legal terms and complications, so that you are sure what you are investing in.
• The skilled professionals at companies will also guide you through the entire process. You can rely on their experience and expertise. You can even get an insurance policy customized according to your requirements and budget.
The best boat insurance quotes plans with companies!
The coverage for protection provided by this esteemed boat insurance company has wide variations to suit your each and every need. Be it coverage for the physical damaging of your boat or your personal belongings; medical liability insurance to boat liability insurance, spillage and salvage coverage or commercial towing; all kinds of insurances and coverage can be purchased from a one stop shop of boat plans and policies.

Cheap Pet Insurance For Cats

Is there anything as unpredictable as your pet's health? The typical costs associated with vaccinations, check-ups, etc., are certainly expected, but who can know if your dog or cat is going to come down with some type of unknown tumor, virus or other medical problem that requires expensive examinations surgery. Or worse yet, the dreaded, "exploratory surgery" where tests can cost hundreds if not thousands of dollars just to find out what is actually wrong with your pet. My father-in-law had a German Shepard dog with an enzymatic digestive problem. The cost just to discover this problem ran him at least hundreds of dollars if not more - and the treatment for curing it included an ongoing expense of expensive enzymes that had to be added to his food every day. Then, there was the hip replacement surgery which cost $2,000. The dog was young at the time and so the surgery was completely necessary. Who can predict these types of expensive pet car necessities? It really does make one consider whether or not some type of pet insurance program would be a a good idea from the very start of your pet's life.
Pet insurance comes in so many different varieties that it can be confusing choosing one that matches your needs. There are pet insurance programs with large deductibles that cover a large variety of medical procedures, including vet checkups, lab work, surgery and other catastrophically expensive care for your pet. There are other plans that have deductibles which cover everything, but surgery. On the other hand, some pet plans cover surgery but not the small things such as routine care and check-ups. Other plans cover routine pet care, but not lab work, etc. The average monthly premium for most of these plans is $22-$29 per month per cat. From my own experience with cats that have had no major illnesses, the average cost per year for shots, neutering, check-ups, lab work, etc, averages out to about $150 per year. The deductible on most plans is $300-$500, making pet insurance unnecessary by the standards of my own example with cats over the last 25 years.
I did find another alternative that might be worth looking into: Discount Cards. A discount pet insurance card costs from $4-$7.00 per month and the benefit is a 25% flat reduction of your cat's medical fees, regardless of what they are. The 25% is good towards surgery, medical tests, lab work, check ups. Additionally, these discount cards usually offer discounts of 10% to 50% on other pet goods and services. If you're looking for the cheapest pet insurance, discount cards are the way to go.

How to Choose the Best Dog Insurance Company

You never know what's going to befall your dog. If you have to take him to an expensive vet, then you'll be glad you had the foresight to get insurance. Here are a few things you need to look at when trying to find the best dog insurance company.
Experience
First and foremost, you will want to see how long the company has been during business. As with most things, the more experienced the company is, the better. This isn't always the case though, as bigger companies aren't always the best choice.
License
Before you look at anything, you need to make sure that the company is licensed to do business in your state. You may want to think about the future too. If you ever plan to move and take your dog with you, the company will need to be licensed in that state as well.
Cost
Of course you'll definitely want to take a look at the costs of getting insurance for your dog. Needless to say, cheaper plans aren't always the way to go. Conversely, you may not necessarily need the most expensive plan on the market either. Consider your dog's situation and your budget. Just like with other types of insurance, be prepared for premium hikes in the future too. They will especially increase as your dog gets older.
When looking at the fine details of your dog insurance policy, make sure that you pay attention to the payout limit. This is the maximum amount that the company will pay for any one claim. If you have a payout limit of $1,000 and a vet bill of $4,500, you'll have to make up the difference.
Discounts
The best dog insurance company will offer discounts of some sort. One of the most common is for owners of multiple pets. If you cover all of them with one company, you could stand to save quite a bit of money.
Claims
When looking to get insurance for your dog, make sure that you take the claims process into account. You'll want it to go as smoothly as possible. Some companies require you to pay the vet the entire bill, then wait for them to pay you the money back.
Others make you get the vet fill out forms as part of the claims process. Insurance companies sometimes restrict the vet that you can take your dog to. If you take him to one that's out-of-network, you'll have to pay a higher cost.
Wellness
You don't only need to go to the vet when there's something wrong. Your dog needs to see the vet at least once a year for a wellness exam anyway. Since this is highly recommended, then look for a dog insurance policy that will cover preventative care. It may not cover all areas such as dental cleanings, vaccinations, and heartworm medication.
Having insurance for your dog would certainly come in handy if something major unexpectedly popped up. If you do decide to get it, then keep these tips in mind so that you can find the best dog insurance company.

On The Seventh Day Of Insurance Christmas I Learned All About Watercraft Insurance

"On the seventh day of Christmas my true love gave to me seven swans a swimming, six geese a laying, five gold rings, four collie birds, three French hens, two turtle doves, and a partridge in a pear tree."
After a rough couple of days I decided to get away from it all with a trip to the lake. I know its December and cold, but I can still relax and see if any fish happen to be biting. I loaded up the boat and headed to the lake ready to enjoy my free time. It was a great day my true love gave me seven swans while out on the lake and we let them swim and enjoy the view right along with us.
Anyone who has ever been on the lake knows just how fun and relaxing it can be, just make sure that you are properly covered. If your boat is anything larger than a row boat you should consider watercraft coverage. Watercraft coverage is simple to purchase and is relatively inexpensive.
Here are some things to consider when buying insurance for your boat. Make sure that you choose to have fuel spill liability and wreckage removal coverage. I know that this is not something that anyone wants to have happen at the lake but in the event of an accident, and if your boat sinks in that accident, you will be responsible for the removal of the boat from the bottom of the lake. It is not OK to just leave it there. You will be fined if you try it. Furthermore, you are responsible for all of the fuel and oil that have now contaminated the lake. Cleanup can be expensive, especially if the lake is very deep, and that is why you want to make sure that your insurance will cover the cost.
Today I won't be doing any waterskiing, but water sports liability coverage is something that I always make sure is included on my policy.
Another valuable coverage that can really set your mind at ease is on-water towing. Breaking down on the water is not like breaking down on the side of the road. Being stuck out is the middle of the lake is not a whole lot of fun. It's nice to know that you have coverage for the expensive of being towed back to the marina. Maybe that fun day at the lake didn't quite turn out like you'd like it to have, but it sure could have been a lot worse.
Call your insurance agent if you have any questions.

What Is Pollution Liability Insurance?

Marine-related operations often have unique insurance policies to provide protection in the event of a problem. They are typically covered with liability and commercial marine insurance for ships and for ground-based operation locations, such as docks and warehouses. One element that usually involves a separate policy or a rider is pollution liability insurance.
The Basics
Companies using marine vessels for transport of people and products are always at risk for causing pollution on the water. This can come from fuel, leaks, items lost overboard and various types of discharge into the sea. For shoreside operations, facility discharges, machinery sinking at the docks or equipment falling into the water can also be the root of contamination. There are various types of regulations from international and domestic legislative bodies regarding what can and can't be discharged into the water. Infractions involve fines, sanctions and clean-up requirements. Marine vessels and companies involved in maritime operations are required to carry various types of insurance. While some liability policies cover pollution, many do not or they don't cover enough to provide for clean-up in the event of a collision or spill. Marine pollution liability insurance typically offers protection for fishing and marine vessels such as commercial ships, crew boats, passenger carriers, floating dry docks, barges and tugboats.
What Is Covered?
Pollution is a hot topic and is closely followed by governmental agencies, worldwide organizations and consumer groups. With the number of regulations regarding pollution widespread, any infractions linked to a company's maritime operations are sure to lead to legal expenses to defend lawsuits and for the manpower needed to respond to investigators. Even where there is no wrongdoing, a company may need to spend a significant amount of money proving their innocence. There are also large fines which can jeopardize a company's ability to stay afloat. One of the most costly elements of pollution is the clean-up process. An oil spill, for example, involves removing the product from the water as well as recovering and rehabilitating the birds, animals and marine life affected by the sheen. Environmental impacts are typically covered by marine pollution liability insurance. Consulting with an insurer over the specific types and amounts needed can prevent future financial losses and the inability to continue daily business operations should there be a mishap.
Who Needs It?
Any company involved in maritime operations should carry it. While responsible owners try to avoid any environmental impact through spills, leaks and regular travel in day-to-day use of vessels, accidents do happen. Those operating equipment or machinery on the water or on the docks should consider a policy beyond general liability.

Benefits of Pet Day Care

Admittedly, pet day care can cost a pretty penny with per day charges ranging from $8 to $35 depending on the type of provider. But when the benefits of day-care facilities for pets are considered, every dollar spent on the health, happiness and welfare of pets is worth it. Indeed, a pet day-care business owner becomes an ally of both the pet and its owner.
From the viewpoint of pets like cats and dogs, their stay in the pet day care centre provides for the following benefits:
Socialisation
Dogs are sociable animals because of their pack hierarchy in both wild and domestic settings. Without socialization opportunities especially with their own kind, dogs are more likely to exhibit psychological issues like excessive barking, inappropriate jumping, and uncharacteristic aggression, among others. In the doggie day care centre, dogs have plenty of opportunities to socialise with their own kind in a safe and secure environment. Plus, the staff will provide their wards with the appropriate toys, set schedules for playtime, and actually play with the dogs. This means that your pets will enjoy the benefits of both canine and human socialization.
Exercise
Dogs require sufficient exercise to keep their minds and bodies as healthy as possible. Being cooped up inside the house is certainly no way to enjoy exercise for your pets. The solution: Regular attendance in a pet day care centre. The staff members are well trained to provide their wards with the right type of exercise for the right period in the right conditions. For example, a Boston terrier has low demand for exercise while an Australian dog requires strenuous exercise to be in top shape.
Diet
Dogs are also provided with the right diet for their specific needs and wants, said specifications of which are provided by their owners. The staff members will provide the medications, if required, according to the owners' instructions. Of course, it is not only the dogs that benefit from pet day care centres. As a pet owner, you will enjoy peace of mind in the knowledge that your pets are safe and sound in the hands of the staff members. You will then be able to run errands, report to the office and perform other tasks that you may have been putting off pending a reliable pet sitter.
With such benefits, it comes as no surprise that a pet day-care business is a good business model nowadays. Just keep in mind that not every dog or cat is well suited for animal daycare. Be sure to give your pets the sufficient time to adjust to the new surroundings and then observe whether it is, indeed, healthy, happy and safe in the centre. The trick is to choose the best centre for your pets' needs so look for clean environments, competent staff, and valid licenses.

There Are Different Types of Marine Insurance

he fact is that any international business has numerous risks associated. Especially, importing and exporting of goods can expose you to immense economic losses, in case; the international shipments are damaged or smashed in shipment. Thus, for the protection and safekeeping of your cargo and for the fast retort and competent service for handling your claims, you need marine policy cover.
This policy caters to the needs of both the importers and exporters and the coverage is inclusive and flexible with international shipments protected from the time the goods depart from the seller's depot until they reach the buyer's storehouse. However, did you know that there are different types of marine insurance policies? According to the needs, requests and specifications of the transporters, an appropriate type or types of policy cover can be narrowed down and selected to be given for operation. Depending on the nature and range of your business, you can opt for the best plan. There are different options, you can choose from; the significant ones being:
Cargo Insurance: Cargo indemnity caters particularly to the freight of the ship and is also valid for the possessions of a ship's travellers.
Hull Insurance: This cover chiefly caters to the trunk and hull of the ship together with all the pieces and portions of furniture in the ship. This type of policy is mostly taken out by the possessor of the ship so as to keep away from any loss to the ship in case of any mishaps occurring.
Liability Insurance: In this policy the recompense is required to be supplied to any accountability taking place owing to the crash or collision of the ship because of any other persuaded attacks.
Freight Insurance: It offers and provides safety to merchant vessels' corporations, which stand a chance of losing money in the form of shipment, lest the consignment is misplaced because of the ship meeting with a mishap. This indemnity solves the trouble of companies losing money because of a few first-time events and accidents.
Along with these, there are also several other types of policies, offered by various companies in order to provide you the flexibility. The accessibility of an extensive array of marine insurance policies gives you a wide arena to choose from; thus, you can get the best deal for your ship and cargo. Remember, having a good policy resolves your problem not just in the short run, but also in the long run.

Annual Multi Trip Insurance for Travellers With Pre-Existing Medical Conditions

If you are like many others who have a current, pre-existing medical condition, then you will be under no illusions as to how difficult and arduous it can be to get a good and affordable insurance policy when you are looking into getting travel insurance.
With the current price of insurance and given how picky insurance companies can be, it can be very difficult for you to get worldwide annual multi trip cover if you have a previous condition.
The reason for such extreme financial costs these days is that Travel Insurance companies have to pay out huge sums of money every year to medical and emergency patients with travel insurance. This is why a lot of insurance companies offer huge sums of money worth of insurance cover across the globe to pay for things like hospital treatment and travel expenses, if you fall ill abroad and have to stay there for additional medical cover.
This is why when you already have a medical risk, you can be asked to pay additional premiums from your insurance company. Whether you have had to overcome a serious illness such as cancer, or something minor which required very little medical attention, they will ask you to disclose these incidents when it comes to taking out travel insurance.
Even if you have made a complete recovery from the illness, you still have to watch out for the extra premiums you will be asked to pay, due to having struggled in the past as there is a chance of returning.
The good news is that some travel insurance agents offer really wide range of pre-existing medical conditions that are covered for free. You can cover all your conditions at no extra fee if you choose the right company.
When you speak to an insurance company, you will have to go through a special process where you are asked a series of questions and reveal some very in-depth details, if they find it necessary. While this can be an unnerving and even sometimes upsetting process, they have to do this so that they can give you the right deal when it comes to your previous health records. Hiding the truth may result in pitiable experience and huge financial losses.
Make sure that you declare everything, no matter how small, so if any old injuries or illnesses return when you are abroad, you have told them previously of an ongoing problem - otherwise they may not pay out. Any doctor can distinguish a pre-existing condition from the first accident. Whom are you trying to fool?
The destination of your holiday matters too, for example, some of European countries have the most expensive health care along with the United States, and this can dictate on your success, or the cost, of your insurance. If you try and get a deal with worldwide annual multi-trip cover, then you will be able to go anywhere in the world and be protected.
Although travel insurance does offer peace of mind when travelling around, as if you do fall ill while abroad and cannot be brought home for treatment, you know that your expenses are paid for by your insurance company, so you know that your treatment is covered.

Neil Clymer is the Web Architect of Globelink International Ltd. Their insurance website, Globelink.co.uk, offers annual travel insurance and an easy quotation wizard to arrange comprehensive cover online.

Overseas Travel Insurance

Planning a trip overseas can be exciting and fun. From the places you are going to see to where you are going to stay, there is a lot to coordinate and research. Before you go on your next trip, consider adding overseas travel insurance to the list of items you need for your vacation. For a relatively low price, you will be covered for a variety of unexpected issues that could crop up surrounding your trip. From helping you with lost baggage and documentation to providing extended international medical coverage, overseas travel insurance is a travelers best friend.
What Does It Cover?
Like with any type of insurance, there are basic plans and extras that you can add on. For the most part, you can count on overseas travel insurance to cover you in the following scenarios: trip cancellation or disruption, medical evacuation, baggage loss or damage, and theft or loss while you are abroad. There are different levels of coverage, and before you purchase a plan, you should read all the details of what you will be insured for and what is not covered. Depending on your plan, you can have access to 24 hour concierge service, travel assistance, and identity theft restoration services. Keep in mind that there is a limit to the amount of money that your insurance plan will pay out. The details of what is offered and what is not will all depend on the plan that you purchase.
How Much Does It Cost?
The coverage can be so comprehensive that it may seem that an overseas travel insurance policy should be very expensive. On the contrary, these plans are very affordable. You may be surprised to learn that for less than 200 dollars you can have a comprehensive safety net that will support you while you are away. Compared to the total cost of the trip, travel insurance is a minor expense.
Choosing Travel Insurance
There are a number of different plans out there, and it can be overwhelming finding the right one for your trip. Read each policy carefully to make sure that it applies to you. For example, if you are not traveling on a cruise ship, you should not pay for cruise ship coverage. Choose a plan that covers all the family members that will be travelling with you. Usually you can add them on to your insurance for a small fee. Before you purchase a plan, get all your questions answered. If the information is not clear on the website, call the customer service line to speak with a representative.

Cheap Travel Insurance: How to Find the Most Suitable Plan? By Annika Sharma

We all look forward to have quality time with our loved ones by means of travel and vacations. However, when we are on the move, a lot can go wrong. The best way to minimize the impact of unavoidable circumstances when travelling is to seek a travel insurance policy. Travel insurance has now become a basic necessity of every travel. When travelling abroad, one must always take into consideration suitable and cheap travel insurance.
Travel is a growing industry. In view of the spurt in the number of travelers all across the globe, many insurance companies offer cheap travel insurance that comes with affordable premium and adequate coverage. Some of the features that you need to look into the travel plans are:
1) The overall protection offered by a particular policy.
2) The reasons that make a policy stand out among other policies.
3) Coverage offered by the policy in terms of medical costs, transportation to the medical facility, hospitalization, and other non-medical costs.
4) The total cost of the policy.
5) If you are looking to seek a policy for business coverage, make sure it offers business trip coverage apart from standard coverage.
6) The service of coverage should be taken into account.
7) Exclusions and deductions should also be considered.
There are dedicated cheap travel insurance plans for senior citizens, students, families, and individuals. For those who are on the look to seek a reliable and comprehensive solution for their travel insurance needs can bank upon ICICI Travel plans. The policies from ICICI Travel covers you for the unexpected medical and non-medical expenses and that too at an affordable premium. With so many options to choose from, there is a plan from ICICI Travel to meet every need.
ICICI Lombard Student Insurance plans come available for students between 16-35 years of age who intend to study overseas. The comprehensive plans from ICICI Lombard Student Insurance cover them against medical expenses, dental treatment, checked baggage loss, personal accident, bail bond, personal liability, study interruption, and much more.
To select the best policy, you can go online and seek quotes for travel plans. These quotes can be availed free of cost and that too in a short span of time. Just fill in the basic information about your travel requirements to get quotes from the premium insurance options available. This helps make a quick and easy comparison to help you arrive at the best deals in insurance plans for your travel

Making a Travel Insurance Claim

Making travel insurance claims can be tricky, especially if you have just suffered an accident or illness, or have lost some precious items. To assist you with your travel insurance we have compiled an outline of the key things you will need to ensure your claim is processed as quickly as possible.
For Emergencies, Hospitalisation or Unexpected Return Home
Always contact your travel insurers' Emergency Response team first. When you do this you can make sure that you are following their particular guidelines, or otherwise you may end up jeopardising your entitlement to claim.
Cancellation of travel:
· Make sure you have documentation outlining the event that resulted in the cancellation of travel, this includes medical notes, certificate of death etc.
· You will also require proof of travel e.g. a full confirmed itinerary, flight tickets, and any correspondence from your travel agent or airline.
· Include invoices and/or receipts showing proof of payment of fares and accommodation e.g. a letter from your travel agent, bank statement etc.
Note: Some insurers may ask for a copy of the terms and conditions of the travel agency or airline used in preparation for your travel.
Loss or Damage of luggage and personal effects
You will need to provide the following:
· Proof of travel e.g. a full confirmed itinerary, flight tickets, correspondence from your travel agent or airline.
· Proof of ownership e.g. receipts or invoices. If you do not have copies of these documents, provide any remaining components of the lost item such as manuals etc. In some instances this is only necessary if the item is over a certain value, however ensure that you are able to provide proof of ownership in all instances should you need to.
· A copy of all invoices and/or receipts that support the amount being claimed e.g. replacement receipts or repair quotes.
· A police report in the case of burglary/theft.
· A repair or replacement quote for any damaged items.
· A carriers' report outlining deprivation or total loss of personal effects or luggage from your airline.
· In the case of loss of money, provide documentation such as withdrawal and bank statements as proof of value.
Medical Expenses while travelling overseas:
Remember you need one claim form for each medical event. Included in this claim form should be:
· A copy of all medical notes requested from your doctor outlining the nature of the illness or injury, including scans and x-rays if relevant. Keep the original documentation in case you are required to show them to the insurer.
· Copies of all invoices and/or receipts from the medical provider that support the amount being claimed.
· Proof of travel e.g. a full confirmed itinerary, flight tickets, correspondence from your travel agent or airline.
· Prescriptions and/or itemised receipts for any medication on which you may be claiming costs.
Note that this is a guideline only and your own travel insurer may have further requirements for a particular type of claim. Make sure that you check the policy BEFORE travelling so you are familiar with the cover and what could be required of you.

Sandra Grant is the Director of Health & Travel Insurance Brokers Ltd is a highly successful, niche broking house specialising in the complex area of medical and travel insurance to both domestic and international clients.

Off-Piste And Heli-Skiing - Why You Need A Specialist Travel Insurance Company

Backcountry skiing, such as off-piste and heli-skiing, is a growing sport worldwide. Attractive to those who want a more adventurous holiday than your standard tourist activities, this sport provides an adrenaline filled adventure in some of the most scenic locations in the world. But for those intending to venture into the world of adventure tourism, finding a travel insurance company that provides a suitable policy can be difficult. This article explains a bit about backcountry skiing and explains why you need to have an insurance policy that is tailored specifically to meet your requirements.
Backcountry skiing takes you away from the patrolled and groomed slopes of traditional ski resorts and allows you to ski unmarked slopes with natural contours and features. Most extreme skiers engage in backcountry skiing because it is viewed as more challenging than traditional skiing. An increasing number of ski resorts support this form of skiing because the sport hasgrown in popularity.
One of the most common types of backcountry skiing is called off-piste. Off-piste refers to skiing that does not stay on groomed trails but sometimes follows alongside a marked trail (piste). In some countries off-piste is the name for all backcountry skiing that takes place on unmarked slopes i.e. off-piste. Particularly popular in places such as Canada, Japan and the United States, this type of skiing includes skiing in unpatrolled areas and sometimes onto avalanche risk slopes.
Heli-skiing is for those backcountry skiers who want to travel even further from the beaten path and explore pristine and sometimes untouched areas. Travelling by helicopter, skiers are dropped off in unmarked mountainous areas with natural terrain and long descents on fresh powdery snow. Heli-skiing is the ultimate experience for the adventurous skier, starting in the 1960's this sport is now popular worldwide.
While exhilarating, this type of sport is also filled with dangers that on-piste skiers do not usually encounter. Difficult terrain and unmonitored slopes mean accidents are frequent and sometimes even extreme events will occur such as avalanches. Additionally, what many tourists do not realise is that the medical costs in popular ski destinations such as Japan or Canada are among the highest in the world. Therefore it is important that people undertaking this activity are adequately covered by their insurance policy - should the unexpected happen.
When you are considering adventure travel, you need to find a specialist travel insurance company that understands your need and has policies to cover your trip. High risk activities such as off-piste skiing are often excluded from standard leisure travel insurance policies.
Before committing to purchasing a travel insurance, you need to ask the insurer whether they will cover medical costs associated with off-piste skiing; also whether this would extend to emergency evacuation off the slopes; and whether search and rescue costs would be covered. Many high risk travel policies will cover the medical and evacuation costs, but search and rescue costs are not covered. You should also consider that if you do break a leg or similar while skiing, you would not only be looking for medical cost cover, but it is likely that you may also have to change/upgrade your return ticket home which would incur further expenses.

Do You Have Umbrella Insurance? Do You Need It?

Let us start with a dramatic illustration. You are driving and suddenly a pedestrian lunges in front of you. You do not stop in time and hit him.
After getting over the shock, you thank your lucky angel because you are fully covered by an automobile insurance policy. It even covers medical liability. You feel relieved.
Unfortunately, your relief could be temporary. Most automobile policies have limited coverages. They will not cover you in case you are sued by the victim for negligence.
Let us take something less dramatic. There is a heavy storm and the tree in your property splits and falls on your neighbor's garage, crushing his car and other property kept in the garage. Does your home insurance policy cover such a damage? Most probably not.
That is why, while it is important to have your assets such as home and car covered through specific damage policies (fire, accident, theft, storm, uninsured motorist etc.), it is absolutely crucial to have an umbrella insurance policy as an essential part of your overall protection.
Briefly, an umbrella insurance policy covers you from unspecified damages caused by liability arising from a lawsuit. Do not mistake it as a supplement or extension of your other insurance policies. It does not cover your deductible or co-pay liability. It simply kicks in and covers you when you are sued.
Why is it important? If you or your immediately family with whom you have co-ownership have assets worth protecting, there is no other way to protect them in the case of civil or criminal litigation exposure. Such litigation, if it is adjudicated against you can play havoc with not only your peace of mind but also with your livelihood. Here is how:

1. Your assets can be attached by court in settlement of the award
2. You could lose rights to income from the attached assets
3. You may have to pay legal expenses defending the lawsuit
4. You do not have anyone professionally looking into settlement options, other than your attorney who again costs you money

An Umbrella policy in fact provides an added layer of liability coverage above and beyond the limitations of specific asset protection policies such as homeowner's, auto, personal property and boat. This policy is also used when you are sued for something which is not normally included in traditional insurance policies.
Such policies are relatively cheap, again depending upon your claims history. A $1 million policy will probably cost you between $200-$400 annually. However, most insurance companies will not sell you one unless you have adequate coverage for your high value possessions--mainly home and car.
Another use of the umbrella policy is if you are holding a board position with a business entity. Such policies are usually referred to as Directors' and Officers' (D & O) policies and you may be able to get them cheaper if you persuade the company itself to go for group coverage.

Umbrella Insurance - Do's and Don'ts

A friend once asked me why would one be so foolish as to spend money on an umbrella insurance policy. I told him one would be foolish not to. This surprised him. Truth is, it is not surprising that most people never consider buying umbrella insurance and are content with single asset policies like home, auto and art.
So what is an Umbrella insurance policy?
An umbrella insurance policy is simply a policy that overlays on top of all other single asset insurance coverages you have. It is usually in $1 million increments. It can pay for any medical, litigation and malfeasance claims you may be required either by law or contract to pay.
Individuals who need umbrella insurance generally meet most of the following criteria.
Level of risk for yourself or your assets.
Are you in a profession that is vulnerable to excessive litigation--e.g. are you a doctor, emergency care giver, physio-therapist, psychologist? Then you definitely need one.
Do you have assets to protect?
Generally people with tangible assets (home, valuables) in excess of $1 million need such a protection.
Do you have a history of claims settlement?
If you or your liability insurance company has been prone to settle litigation, you definitely need one. The next litigant may not be in a mood to settle and may force a trial.
Shopping Tips for Buying Umbrella Insurance:
Comparison Shop: Go to a site like Cheapinsurance or Esurance. You can put in the information asked for and Most insurance companies require policyholders to have their car and home insurance with them in order to get umbrella coverage. A policyholder can save around 20% on premiums by sticking with one company for both basic policies. The National Association of Realtors' estimator helps homeowners determine how much coverage they'll need.
Include all of the assets: People sometimes forget they may have a partial ownership (e.g. fractional ownership of a boat or plane)
Do it right the first time: It is expensive and can affect your credit if you let insurance companies keep checking your credit because you are writing, canceling and re-writing policies. So shop till you drop but do not make a decision to buy any insurance till you are sure and have compared all aspects of the policy and issuer.
Be conservative: When insuring for umbrella protection, while going overboard relative to coverage is not advised, skimping is even more dangerous so get the facts behind what you intend to cover.

Why Everyone Needs an Umbrella Liability Policy

You've carefully chosen the coverage levels on your home and auto policies so you should be protected against every possible risk correct? Unfortunately not. Your existing auto and homeowners insurance may not be enough to protect your nest egg in the event of an expensive lawsuit.
Are you at risk? Recent statistics show that $500,000 is the national average for payouts in an auto liability case and $900,000 is the average for a property liability case*. In addition, 25% of all $1,000,000 or higher payouts are in the State of California (yes, we are a lawsuit-happy state). Even if you are ultimately deemed to not be at fault, chances are you will incur a large attorney bill just defending yourself.
Here's an example - let's say you, or someone in your household, is involved in a car accident. You are determined to be at fault and the person you injured sues you. We'll assume you carry $100,000 in bodily injury protection on your auto policy, however, you are ordered by the court to pay $500,000 to the injured party. Your auto policy will pay the first $100,000 but where does the additional $400,000 come from? Your home, any other real estate holdings, your vehicles, other personal property, your savings, investments and other liquid assets might all need to be liquidated in order to satisfy the court judgement.
What if you have no assets and your net worth isn't enough to cover the judgment against you, do you still need insurance? YES because 25% of your future earnings could also be at risk and be garnished under court order.
Have young drivers in the house? Not only are they more at risk for an accident but 25% of their future earnings could also be garnished if they are deemed to be at fault in an accident. Not to mention that YOUR assets are at risk.
An umbrella liability policy offers an additional layer of protection over and above your auto, homeowners, condo or renters policies so you are protected both at home and in your vehicle. You work hard for everything you have so why wouldn't you want to protect that nest egg?
Umbrella Liability policies usually range from $1,000,000 to $5,000,000 in coverage and are fairly inexpensive (a couple of hundred dollars per year on average for a $1,000,000 policy). Re-evaluating your existing policies, getting all the discounts you're entitled to or raising your deductibles slightly can very often cover the added cost and is well worth it.
Simply put, not having an umbrella policy is like jumping out of an airplane without a parachute. Why risk everything you've worked your whole life to build? Once you have an umbrella policy, you will wonder how you ever lived without one.

Critical Coverage

READ THIS REPORT BEFORE YOU DECIDE ON YOUR COVERAGE LIMITS!
Critical Coverage EVERY Family Should Have for Teen Drivers
Protect Your Family's Financial Future NOW!
There are probably all kinds of thoughts going through your mind during this period of parenthood. Your innocent young child has reached a milestone in life that brings a new freedom they have never experienced before.
Your child's dependence on you has just been reduced tremendously. You can only hope that all your guidance will be enough to help him or her go out into the world responsibly and remain safe.
There is one more responsibility you have that cannot be taken lightly. Your Family's entire future depends on how you protect it. More specifically, your family's "Financial Future" must be protected and you are about to learn how to do it- and do it right.
Teen Drivers are 5 times more likely to get into a car accident than an experienced driver and an accident from a Teen Driver cost insurance companies 3 times more than an experienced driver.
That means- now that you have a young, inexperienced driver in your household, the likelihood of you being involved in a lawsuit has just skyrocketed.
In my community, almost every Monday morning when I read the newspaper, there is a story about a teenager getting killed in an accident or killing someone else. At the time I am writing this report, there were 2 such stories of teen-related fatal accidents in my paper this morning.
The first accident involved an 18 year old that was beginning his senior year. He was a junior firefighter who was just promoted to the team at his 18th birthday just a month ago. He was speeding (65 in a 45), lost control of his car, went into a ditch, rolled his car and was killed instantly. (By the way, he wasn't wearing his seatbelt.)
As tragic as this story is, the only blessing was no one else was involved. No one else was killed or injured and there won't be a lawsuit.
The second story involved three teenagers out having a good time Saturday night. The 18 year driver had been drinking and using a prescription drug called "Xanax". He lost control of the car and ran off the road into an embankment. His 18 year old girlfriend was killed. Her younger sister and the driver survived the accident with minor injuries.
He was charged with DWI, reckless driving, and other charges are pending. Most likely, manslaughter will be added.
I am writing this report the 1st day of a new school year and these same stories happen all over our country, especially this time of year. I am sure you are hearing the same in your home town.
Speeding and alcohol combined with an inexperienced driver is like throwing a can of gasoline on a fire. Things get out of control and explode. Property gets damaged. People get hurt and some even killed.
You may think your child is responsible and would never be involved with something this tragic. You may be right, but your child doesn't have to be irresponsible to cause a tragic accident
When you get down to the root of why so many teenagers cause accidents, the core reason is that they just don't have the experience yet.
I can tell you many other stories of responsible young drivers that cause accidents without even being negligent.
Stories where alcohol, speeding or careless behavior was never involved. They were caused because teen drivers simply don't have the experience to control their vehicles when they get into a sticky situation.
The reason why I am sharing these stories and examples of what can happen is because I have seen it happen and seen it happen too often during my years in this business. And I don't want it to happen to you- just because no other insurance agent shared this with you.
What happens when your teen driver causes a serious accident?
The number of million dollar plus lawsuits are on the rise. They are the result of serious injuries and wrongful death car accidents.
If someone is paralyzed in a car accident, how much will it cost to care for them for the rest of their life? What if someone (or more than one person) is killed? How do you put a price on someone's life?
You don't. The courts will.
Are you prepared to handle a lawsuit for a million or more dollars right now? Do you have enough assets to pay for it? Are you prepared to pay a portion out of every paycheck you make for years to come? Or... are your insurance limits high enough right now?
I want you to know that I truly believe in insurance and how it can save a family from a devastating lawsuit. Some years ago, when I was just a rookie in this business, I learned just how important quality protection is.
True Story- A client of mine picked up her 10 year old son and his friend from school. She was driving down the street when a dog shot out in front of the car. She swerved and hit a telephone pole. Her son's friend was permanently paralyzed from the waste down in the accident.
That poor 10 year old was forced to spend the rest of his life in a wheel chair. We knew a lawsuit was coming and fortunately, my client was well covered. These folks had a lot of assets that could be taken from them in a lawsuit. They also knew how important quality insurance protection was.
Their car insurance policy had high bodily injury limits and they were wise enough to take our advice and get a million dollar liability umbrella for the worst case. The claim totaled $875,000- much less than expected and probably not enough to provide long term care for the little boy.
That was over 9 years ago and similar lawsuits today are much higher.
So, how can you protect yourself for the worst case? Here are some suggestions:
Have your insurance reviewed by an expert that understands family protection, especially one that knows how teen drivers should be protected. Here are some of the points a good family protection specialist will recommend:

• Make sure your car insurance limits for bodily injury are the highest your state allows. (Minimum $250,000 per person, $500,000 per accident)
• Make sure your Uninsured Motorists and Underinsured Motorists limits are high too. (Minimum $250,000 per person, $500,000 per accident)
• Get a Personal Liability Umbrella. A million dollar umbrella is probably enough for most families, but if you own an expensive home or have a high paying career, I'd recommend at least a 2 million dollar umbrella.

You will be surprised that the cost of making these changes won't make much difference in what you pay for your insurance. In fact, many people end up getting all of this coverage and still save money!
How?
Many insurance agents understand how to protect "responsible" families at the lowest cost. The rates are lower for "responsible" families and they help their customers reduce the likelihood of an accident which leads to claims.
This allows the insurance company to keep your rates down but still offer high quality protection. So, you buy your insurance at a reduced rate and increase your coverage! Make sense?
Congratulations on taking the first critical step to protecting your family's future. Don't delay on taking that second step. Call your agent today. Every day that goes by leaves a window of opportunity for a tragedy. Get protected today!
Wishing you and your family great health, happiness and prosperity!

Protect Your Assets - Umbrella Insurance Policies Expand Auto and Home Liability

Most homeowners have a homeowner's insurance policy, as it is a requirement when financing a mortgage with a bank. Homeowner's insurance, also known as hazard insurance, protects against the loss of a home to fire or other designated perils and includes coverage of home contents, personal liability coverage, and loss of use.

Automobile liability insurance covers you when you are involved in an accident. Most policies provide up to a maximum of $500,000 in coverage, where an umbrella policy can increase that limit by an extra $1 million or more, depending on the amount of financial protection you want. That way by adding umbrella insurance, you are likely to have the necessary limits to cover you in a serious accident. An umbrella expands coverage in the event a legal claim is filed against you from any involved parties.

An umbrella policy can cover claims for which you have no insurance as well as providing an additional amount over your underlying automobile and homeowner' s liability limits. Most people buy automobile and homeowners insurance from the same insurance provider because they receive a multiple coverage discount. Therefore, umbrella coverage would cover any liability for the home and automobile as well as any automobiles, boats, recreational vehicles, and other items that fall under the umbrella. The primary purpose of an umbrella insurance policy, then, is to protect your personal assets from liability claims.

For the most recent data available, the National Highway Traffic Safety Administration reported that vehicle crashes were the 11th leading cause of death for the general population in the United States in 2009. For those aged 4, and all ages 11 through 27, motor vehicle crashes continue to be the leading cause of death. With over 5.5 million car crashes annually, there were more than 30 million injuries with nearly two million people requiring hospitalization for injuries they sustained.

If the number of vehicle crashes were not enough to have you consider adding umbrella coverage, certain aspects of your home may also warrant added liability coverage. Owning a home with a swimming pool or trampoline, for example, is a good reason to consider an umbrella policy. If an accident should occur, extra liability coverage will help cover court costs and any damages up to the liability limit of the policy.

Without umbrella insurance coverage, you would be personally responsible for paying off any damages of an awarded personal injury and other related costs included in a liability claim. Just one unfortunate event can result in a catastrophic financial outcome for you and your family.

Available in increments of $1 million, umbrella insurance can protect your family from financial ruin. Your insurance agent or broker will be more than happy to discuss umbrella policy alternatives with you given your personal situation. One incident can pay for the cost of the premium many times over. Despite the fact that umbrella policies are quite affordable, if you are cash strapped, you may want to consider increasing your deductible on home and auto insurance to give you the cash necessary to protect you and your family from a successful liability claim.

When Did You Last Review Your Insurance Coverage?

When is the last time you compared rates on your home and auto insurance policies? Unfortunately, policies held for a long period of time accompanying a stellar safety record don't always translate into lower insurance rates. Even if you think you have a good rate, shopping around periodically is smart.

After receiving my April newsletter and attempting to follow my advice of maintaining an umbrella insurance policy, one of my readers contacted his insurer to add coverage. This reader was shocked when his insurer informed him that he didn't qualify for an umbrella policy because he didn't carry sufficient liability insurance on his auto policy. (Minimum auto liability insurance - frequently $500,000 - is required in order to purchase umbrella coverage.) Although this individual had owned his policy for eight years, he was unaware that the policy only provided $50,000 of liability coverage. This amount was clearly insufficient for an individual approaching and preparing for retirement.

In addition to realizing that he was severely underinsured, this individual discovered he was also paying excessive premiums. For only $50,000 of auto liability coverage, this person was paying $914 per year. Moreover, the individual realized he was paying $351 per year for the $350,000 of liability coverage the individual had on his condo.

Consequently, in total, this person was paying $1,265 per year for $50,000 of auto liability and $350,000 of home liability coverage.

This individual then spoke with an independent insurance agent to increase auto liability coverage to an amount that enabled him to obtain an umbrella policy. This was critical, as it dramatically decreased the individual's liability exposure, a risk an individual with accumulated assets clearly shouldn't have. Even better, the individual was able to obtain dramatically improved rates on his policies. For a total of $1,207 (less than he was previously paying!), the individual was able to secure $1,000,000 of auto liability coverage, $350,000 of home liability, and an additional $1,000,000 umbrella policy.

Clearly, it can be beneficial to occasionally review and compare rates on your insurance policies. People tend to believe that policies that have been owned for extended periods of time are efficiently priced, but it may be the opposite. If you haven't verified that you are adequately insured and conducted a cost comparison recently, speak to an independent insurance agent and minimize your exposure with cost-effective policies.