There are times when you need a friend to run an errand for you, a co-worker may need to borrow your car to do company business, or a family member may need to borrow your vehicle.

Should you let someone borrow your car? And, if an accident does happen, will that person be covered under your insurance policy?

Life happens. There are times when you need a friend to run an errand for you, a co-worker may need to borrow your car to do company business, or a family member may need to borrow your vehicle. What do you do?

Lawyers.com, says “Generally, insurance coverage ‘follows the vehicle.’ As long as a driver has the vehicle owner’s permission to use it, the owner’s policy will provide coverage no matter who the driver is. Whether you’re lending or borrowing a car, the vehicle owner’s policy should cover injuries and property damages. “

There can always be exclusions within any policy. About.com brings out one example, “If a girlfriend you live with uses your car, she may not be covered if you did not list her on your insurance policy. On the other hand, if you live separately, she could use your car with your permission and be covered.”

It is always best to consult your independent insurance agent regarding specifics to your individual policy. These licensed professionals are qualified to help you make the right choices and clarify any confusion.

“The information on this site is general in nature. Any description of coverage is necessarily simplified. Whether a particular loss is covered depends on the specific facts and the provisions, exclusions and limits of the actual policy. Nothing on this site alters the terms or conditions of any policies, nor does it provide any guarantees. You should read your specific policy for a complete description of coverage.”

National Hurricane Preparedness Week 2012 runs from May 27th through June 2nd. A hurricane  is a type of tropical storm in the western North Atlantic having wind speeds of, or in excess of, 72 miles per hour. These intense storms can cause extensive damage through torrential rainfall and excessive flooding, powerful wind, and flying debris. Awareness and preparation for these seasonal storms can keep you safe and reduce the adverse effects on your home, boat and other property.

The Federal Emergency Management Association (FEMA) offers these practical tips to secure your home before a hurricane hits.

Before a Hurricane

• Cover all of your home’s windows. Permanent storm shutters offer the best protection for windows. A second option is to board up windows with 5/8” marine plywood, cut to fit and ready to install. Tape does not prevent windows from breaking.
• Install straps or additional clips to securely fasten your roof to the frame structure. This will reduce roof damage.
• Be sure trees and shrubs around your home are well trimmed so they are more wind resistant.
• Clear loose and clogged rain gutters and downspouts.
• Reinforce your garage doors; if wind enters a garage it can cause dangerous and expensive structural damage.
• Plan to bring in all outdoor furniture, decorations, garbage cans and anything else that is not tied down.
• Turn off propane tanks.
• Ensure a supply of water for sanitary purposes such as cleaning and flushing toilets. Fill the bathtub and other larger containers with water.
• Close all interior doors – secure and brace external doors.

“The information on this site is general in nature. Any description of coverage is necessarily simplified. Whether a particular loss is covered depends on the specific facts and the provisions, exclusions and limits of the actual policy. Nothing on this site alters the terms or conditions of any policies, nor does it provide any guarantees. You should read your specific policy for a complete description of coverage.”

Why Compare Replacement Cost Versus Actual Cash Value?
Insurance is there to cover the unexpected. Realistic consumers must plan for potential insurance claims by determining and evaluating the difference between these two types of coverage: Replacement Cost and Actual Cash Value (ACV). The distinct disparity between these two terms will directly influence your insurance settlement, so examine and choose wisely. After you weigh the characteristics of each option, contact your independent insurance agent to ensure your coverage is appropriate for your needs and comfort level. A qualified and licensed agent  will help you make the right choices for your individual situation.

Replacement Cost
Investopedia defines Replacement Value as “the cost to replace the assets of a company or a property of the same or equal value. The replacement cost asset of a company could be a building, stocks, accounts receivable, or liens. This cost can change depending on changes in market value. Also referred to as the price that will have to be paid to replace an existing asset with a similar asset. Amount it will cost to replace the asset in current terms.”

Hank Coleman of Moneycrashers.com states, “Replacement Cost increases the price of an insurance policy. But if you ever need to file a claim, you’ll be glad you have it. If replacement cost insurance is present on the policy, the policyholder may have to provide a value for the items insured in case of claims. Regardless, receipts, video, and itemized inventories stored at a remote location make the insurance claims process an easier and faster one.”

Actual Cash Value
IRMI, an online resource for risks and insurance solutions says, “ACV is typically calculated one of three ways:
(1) the cost to repair or replace the damaged property, minus depreciation;
(2) the damaged property’s ‘fair market value’;
or (3) using the ‘broad evidence rule,’ which calls for considering all relevant evidence of the value of the damaged property.”

Coleman adds, “When you buy a home, for example, and insure it for cash value only, the insurance company will only reimburse you for a loss up to the value of your home. So, if you bought a $150,000 home and it was destroyed in a fire, the insurance company will only pay you the $150,000 original price minus your deductible and depreciation as well. On this depreciation aspect, the insurance company will deduct an amount for the wear and tear you have caused on an asset before they pay out the claim. This can significantly reduce your payment and potentially leave you in debt.”

“The information on this site is general in nature. Any description of coverage is necessarily simplified. Whether a particular loss is covered depends on the specific facts and the provisions, exclusions and limits of the actual policy. Nothing on this site alters the terms or conditions of any policies, nor does it provide any guarantees. You should read your specific policy for a complete description of coverage.”

What is an Insurance Agent?
An insurance agent can be a friend, parent, or coach licensed in the field. Most importantly, an insurance agent is your protector. Someone who knows the business, its downfalls and upsides, and can guide you toward to making the right choices that suit your individual needs.

Types of Insurance Agents

An insurance agent, sometimes referred to as an insurance sales agent, is either a captive agent or an independent agent. Captive agents  work for one company exclusively and can only offer their clients one specific product line. This type of agent has a limited number of insurance options. Independent insurance agents represent several companies offering you more choices for finding the right insurance at the right price.

Insurance Agent Educational Requirements
Employers prefer to hire insurance agents who have college degrees, particularly in business or economics. The U.S. Bureau of Labor Statistics reports that students in college take courses in finance, accounting, marketing, economics, and business administration. It can also be beneficial for anyone looking to work in Life Insurance Sales to focus on psychology, public speaking, and sociology classes.

Insurance Agents Continuing Education
In most cases, states also require continuing education credits be updated within specific time frames.

State Required Licenses for Insurance Agents
In most states, in order to be licensed, sales agents must complete pre-licensing courses and pass state examinations. They arerequired to obtain separate licenses  to sell life and health insurance or property and casualty insurance. Each state has different requirements consult your individual state’s Department of Insurance for details.

You purchase insurance for life’s unexpected events and you trust your independent insurance agent  to help you find the right coverage for the best price.

By definition an insurance claim is a request to an insurance company to pay for a loss. This claim initiates an evaluation process to determine if the loss is the responsibility of the requested insurance company. However, keep in mind that the purpose of insurance for consumers is to protect them from financial disaster, not small expenses.

There are no set rules on when to file a claim although the guidelines below can help you evaluate your individual situation. It is always a good idea to consult with your agent. Remember – he/she is there to look out for your best interest and may have more information that may affect your decision.

DO file if …

It is a BIG claim. Experts agree it is not wise to make small claims, although they disagree on what small means. To some that is $500. Others say $1,000. It will depend on what you can afford to pay out of pocket.

• You have not had recent claims. Filing a single claim might have no effect on your auto or homeowners premiums.
• Injuries are involved. If there is a chance someone else in the incident could claim they were injured, file a claim to protect yourself from an injury lawsuit.
• You have had the policy a while. Longtime customers who make few or no claims generally get more leniency than new customers who file claims.

DO NOT file if …

• Your deductible is higher than the value of your claim. Your deductible is the amount you have to pay before your insurance kicks in.
• You have had other recent claims. Filing several claims in the same year might trigger an increase.

Your parents’ bosses may not like it, but you can thank Uncle Sam for passing The Affordable Care Act allowing young adults to stay on their parents’ health care plan until age 26. This may be your best option for the best coverage at the best price.

2. Individual and Family Health Insurance

This health care insurance choice is simple to find and is available through your independent insurance agent. You can purchase a variety of options at assorted price points the same way you buy home or auto insurance. Obtain quotes by setting a personal appointment with your agent or you can request an online quote.

3. High Deductible Health Plan

People are selecting high deductibles for lower premiums. This can save you money, but unexpected out-of-pocket expenses can make the savings vanish. Oftentimes, those with high deductible plans put off appointments for preventative care that can lead to even larger future expenses. A certified agent can help you navigate the pros and cons of your choice as it aligns with your current life situation.

4. Short Term Health Insurance Coverage

In-between jobs or starting a job soon? Short term health insurance policies are temporary solutions that work the same as an individual or family health insurance policy. This option is best for those who need quick protection to avoid any health insurance gaps.

5. In school?

Many colleges and universities offer affordable student health plans and provide on campus health care facilities. Check with the admissions office for availability, offerings, and prices.

When bringing a dog into your life, the last thing on your mind is probably how your breed selection will affect your homeowners insurance. Did you know that owning certain “high risk” breeds such as Rottweilers, German Shepherds, and Pit Bulls may negatively affect your potential liability?

Large dogs with the potential to inflict lots of damage to property are often frowned upon by insurers. However, of the greatest concern are breeds with a strong history of biting. These are most likely to be classified as “high risk” by your insurance provider. Homeowners with these particular breeds may have a hard time qualifying for a homeowners insurance policy, or may be paying higher premiums.

Here are some ways to avoid potential problems:

• Escape the issue entirely by adopting a mutt from your local animal shelter! Mixed-breed dogs often combine the best attributes of various breeds and result in a healthy disposition…and often healthier physical attributes as well.

• If you already have a “high risk” breed as a pet, or insist upon getting one, shop around to various insurance companies to see if yours falls within their “high risk” guidelines. Your local independent agent has access to a variety of carriers and can custom-build a homeowners policy to suit your needs.

• Regardless of breed, keep your dog securely fenced and never leave your pet alone with anyone. Teaching your dog not to bite and eliminating potential bite situations is the best way to avoid risking a liability claim.

Thanksgiving Day is traditionally a day for families and friends to get together for a special meal. The meal often includes a turkey, stuffing, potatoes, cranberry sauce, gravy, pumpkin pie, and vegetables. Thanksgiving Day is a time for many people to give thanks for what they have.

Thanksgiving Day is also a day where some try their hand at deep frying a turkey for the first time.  To see how to keep that turkey deep-fryer fire under control, preventing an injury or property loss, check out the following comedic video:

With Thanksgiving just around the corner here’s an easy and delicious turkey recipe from Giada for your Thanksgiving dinner.

Great article and excellent advice on the benefits of using Electronic Signatures in the insurance industry and how it saves a tremendous amount of effort while increasing productivity.

I have read that in some countries, like in Australia, most insurance providers don’t even require a client signature for insurance applications sold through an agency resulting in immense time and cost savings to the agency, client, and insurance provider.

Click the link below to read the full article.

Using Electronic Signatures Could Save Billions | LinkedIn http://www.linkedin.com/today/post/article/20121108143131-5214630-using-electronic-signatures-could-save-billions