Should You Appeal Your Property Tax?

Should You Appeal Your Property Tax?


As much as 60 percent of taxable property in the United States is over-assessed.

That startling fact comes from the National Taxpayers Union, a Washington, D.C., advocacy group.

A Big Red Flag

Just as assessments increased during the real estate boom, they should now be lower for most homeowners — especially in California, where property values have plunged.

Telltale signs that your property may be over-assessed include:

Your neighborhood looks like foreclosure alley. When homeowners bail out of a neighborhood en masse, property values for the remaining homes can plummet.

Your neighbors have lower assessments. Similar homes (size/age/construction, etc.) should have similar assessments. Likewise, look for comparable homes in the area that have sold for less than your appraised value.

You bought your home in a bidding war. If you bought at the peak of the market and competed with other buyers for the same property, the sales price was probably overvalued. An overvalued property is an over-assessed property.

Your tax bill contains errors. Your tax bill lists your condo as a single-family home, or adds extra rooms to your place. That’s a problem. Mistakes happen more often than you may think. Many assessors don't even come on your property to inspect it. They may use historical information that's wrong (for instance, your home's square footage might have been incorrectly calculated on original construction documents).

You have “value reducers” in your home or area. When compared to other homes, your assessed value should be lower if your home is impacted by drainage problems, easements, heavy traffic, nearby railroad tracks and freeways. Ditto for depreciation factors, such as structural cracks, deterioration or chronic defects.

You Can Fight City Hall

If your property taxes haven't declined along with your house's value, you can take action: Appeal the assessment.

Sure, the process is tedious and bureaucratic, but appeal work is something most homeowners can do — about on par with representing yourself in small claims court.

The good news is that your chances of winning are good. Nationally, about one-third of the people who challenge their taxes see some savings. And we’re talking real money here. Consider an appeal for a $350,000 house where the value is reduced by 5 percent. This would reduce the assessed value by $17,500 and the property taxes by $525, based on a 3 percent tax rate.

Most property tax appeals are resolved at an informal hearing, which is the first step in the process. Your local tax collector’s/assessor’s office is the place to start. You can review comparable home tax valuations in your neighborhood either online or in person (these are public records, so don’t take “no” for answer).

You may also need the services of a good home appraiser (call a reputable real estate agent in your area and ask for a referral). This person will check your home and report his/her findings to your local property tax office. You can also hire a real estate agent with access to your local multiple listing service. They can quickly generate a comparable market analysis of homes both recently sold and those in escrow to hone in on your home's true value.

“I Protest!”

If you meet with the assessor but fail to reach an agreement, the next step is to protest the assessment.

Before your hearing, gather all your evidence and put it in order. For example, you may want to collect photos of comparable properties or put the market data into a spreadsheet that makes it easy for the hearing officials to follow your argument. Consider sitting in on somebody else's hearing before your appeals date to see how the board operates and get a sense of what arguments do and don't work.

To successfully make your case, you'll need to find three, five or more comparable homes in your neighborhood with lower assessments. Remember that truly comparable homes are homes nearly identical to your home's floor plan, age, lot size, improvements and other factors.

For More Information & Free Insurance Quotes Please Contact Jason Shroot @ Diversified Insurance

jason@diversifiedinsurancequotes.com

714-988-3325

Health Insurance For The Self-Employed

SELF-EMPLOYED HEALTH INSURANCE....

As a self-employed person you are accustomed to making decisions for yourself. There are several options available for self-employed health insurance; however, that decision can be difficult. Following is information that can help you decide which self-employed health insurance policy is right for your family:

Look at Your Health Insurance Options

Individual vs. Group Health Insurance

Group health insurance premiums tend to be lower and buy significantly better coverage than an individual policy. However, a lack of employees may make it difficult or impossible for a self-employed person to qualify for a group health plan. When shopping for self-employed health insurance, be sure to ask the agent or provider what you need to do to qualify for a group plan.

If you are not eligible for a group plan, an individual plan will provide valuable coverage for your family. A disadvantage of an individual plan is that these policies take into account the medical history of each person insured under the policy—a factor that can significantly drive up cost. In addition to higher costs, coverage under an individual plan tends to be more restrictive than a group plan.

Health Savings Account (HSA)

There are other alternatives. Introduced recently, a Health Savings Account (HSA) couples a high-deductible health plan that provides coverage for major losses and a savings account to accumulate funds for other qualified, more routine medical expenses. The premium for the health plan and your contributions to the savings account are tax-deductible. Cash withdrawals from the savings account are not taxable if used to pay for qualified medical expenses. Contribution limits are set by law and are subject to change annually.

Supplemental Health Insurance

A disability that causes work loss is one of the most common causes of family bankruptcy in America. Each year, one in four workers over 30 will become disabled for more than 30 days. Some disabilities may be work-related, others just happen.

Most employees are covered by workers compensation insurance for work-related illness and injury. In contrast, many self employed people do not carry workers’ compensation insurance. A supplemental health insurance policy will cover expenses related to lost wages and other medical expenses normally covered by workers’ compensation for on-the-job injuries.

Supplemental health insurance also will help cover the costs associated with off-the-job illness or injury. Some forms of supplemental health insurance offer a cash benefit to help pay bills while you are unable to work. Others will help pay for medical treatments not covered under a regular health insurance policy.

For More Information & Quotes Contact Jason Shroot With Diversifed Insurance:

Please Call 714-988-3325

Please Email jason@diversifiedinsurancequotes.com

Please Visit  www.diversifiedinsurancequotes.com

Business Insurance for Tow Trucks

Business Insurance for Tow Trucks


We are expanding today on business insurance for tow truck companies. If you own a tow truck or a fleet of tow trucks you should consider a minimum of a $1M/$2M General Liability policy to cover your shop and other mishaps. We recommend $1M to cover the tow truck itself. Tow truck companies should also add at least $100,000 in Garage Keepers Liability depending upon how many customers’ cars are kept on premises. Some states will also request that you have uninsured motorists, under-insured motorists and personal injury protection. Finally we recommend a minimum of $250,000 in on hook protection to cover the cars you are towing.

Please contact Jason Shroot at Diversified Insurance Quotes to discuss your business insurance today!

714-988-3325
jason@diversifiedinsurancequotes.com
www.diversifiedinsurancequotes.com

Best Practices For Surviving An Earthquake

One of the challenges of living in Southern California is the risk of earthquakes.

As the third annual Great California Shake-Out is observed today (www.shakeout.org), the University encourages you to be familiar with best practices for responding to earthquakes.

This information will assist you and your family plan how to respond to an earthquake. Each household member should understand their plan and how he/she is expected to respond.

Best Practices For Surviving An Earthquake:

• If indoors, stay there. Get under a desk or table, or stand in a corner or doorway that does not have doors on it (do not go in a doorway with doors; they can swing back and forth violently). Protect your head, neck, and face.

• If outdoors, get into an open area away from trees, buildings, walls, and power lines.

• If driving, pull over and stop. Avoid overpasses and power lines. Stay in the vehicle until the shaking is over.

• If in a crowded place, do not rush for the doors. Move away from windows and shelves containing objects that could fall.

• If the earthquake causes items to fall off of shelves or cracks in the building, go outdoors after the shaking subsides and stay clear of buildings, walls, power lines, and trees.


Please Contact The Diversified Insurance Group at (714) 988-3325 With Any Questions.

Rising Male Unemployment Increases Need for Women to Buy Life Insurance

Rising Male Unemployment Increases Need for Women to Buy Life Insurance

As the recession drags on and layoffs continue, men now outnumber women on the unemployment line, according to the latest numbers from the Bureau of Labor Statistics.

The national unemployment rate for men is 9.8 percent; for women, it's 8.0 percent.
The reasons for the shift are clear. Men represent the majority of workers in the construction and manufacturing industries that have been hit hardest during the recession. Conversely, women dominate the health care and education sectors, which expanded nearly 3 percent in 2008.

Fewer Women Invest in Life Insurance

While women may be gaining ground in the labor force, they remain a distant second when it comes to protecting their loved ones with life insurance coverage.
Studies show that approximately one-third of women have no life insurance policy, and two-thirds of insured women from two-income households feel the life insurance coverage they do carry is inadequate.

Some Women Don't Realize the Value of Their Contributions

Even as some women serve as the primary breadwinner, most women feel they don't need coverage. Instead, they rely on the male's insurance policy, failing to realize that most two-income households rely on both incomes to make ends meet.

"Today, the traditional family model of husband as breadwinner and wife as homemaker holds only for a very small proportion of couples," said Mahshid Jalilvand, a professor of economics for the University of Wisconsin, in a report from the Bureau of Labor Statistics. "Dual-earner families are a major and growing segment of the labor force."

According to data from the Insurance Information Institute, a non-smoking 40-year-old female with a $500,000, 20-year term life insurance policy can expect to pay between $25 and $50 per month for coverage--a small price to pay to secure a family's economic future.

When dealing in dollars and cents, gender is irrelevant. Male or female, full-time employee or stay-at-home parent, if someone relies on you financially, life insurance is a must-have.

For a Life Insurance Quote Please Call Jason Shroot at 714-988-3325

Insurance Claims - An Inside Perspective

Insurance Claims – The INSIDE STORY

Insurance claims can be a first class PITA!

With that in mind, this little bit of INSIDE INFORMATION is offered.

EVERY CLAIM HAS:

1. An Adjuster (human type)
2. A File (either electronic or paper or both)
3. A Supervisor (also the human type)

The claim process looks like this (considering the three above items)

1. The Adjuster mediates and calculates the value of the claim.
2. The Adjuster documents The File. (Why? Because The Supervisor is going to check that file)
3. The Supervisor reviews the file. (Why? Because once a year, the state insurance commission will audit the insurance company and randomly review claim files to be sure that the money paid out was justified, documented and in accordance with state insurance law. When there’s an issue, the insurance company is fined — HEAVILY! )

Here is the extremely valuable information ! When you’re negotiating with the insurance company to settle your claim, remember while making you happy is important to them, passing the eventual audit is more important. A badly documented or poorly calculated claim can cost the insurance company — MANY MORE DOLLARS than giving you a couple hundred extra for your bent fender.

Generally, the adjuster does not personally care how much they pay to settle the claim. Let me say that again.

Generally, the adjuster does not personally care how much they pay to settle the claim.

I say generally because you will occasionally run into that young buck, fresh out of ‘ADJUSTER SCHOOL” who wants to save the world and treats the insurance company money like his own. THAT’S a discussion for another day. They’re paid employees with families, bills, problems, vacation plans, and a host of other issues just like you and I face everyday.

The claim adjuster doesn’t really care what he pays to settle the claim.
The claim adjuster wants to get the file closed as much as you do.

As long as he can document the amount paid, he’ll write the check now and be done with it.

THEREFORE……

Whatever assistance you can offer to document a better value for your claim, the faster you’ll get paid.

1. When you think your car is worth more than they’re offering, get some documentation that supports that additional value.
2. When your repair job exceeds the insurance company estimate, get a letter or itemized estimate explaining the difference.
3. When the replacement cost of your kitchen exceeds what the insurance company is willing to pay, get pictures of your old kitchen and an itemized bid from the contractor that clearly indicates that you’re putting yourself back as you were — No better, no worse.
4. When the ‘facts of the accident’ are not clear, get witness statements or police report clarification.

The more you’re willing to work WITH the claim adjuster to properly document their file to justify higher payments, the more you’ll get paid for your claim.

Please Contact Jason Shroot with Diversified Insurance Services @ 714-988-3325 and let us help you with your claim process - that's why our agency is here for you !

What is employment practices liability insurance (EPLI)?

What is employment practices liability insurance (EPLI)?




EPLI covers businesses against claims by workers that their legal rights as employees of the company have been violated.

The number of lawsuits filed by employees against their employers has been rising. While most suits are filed against large corporations, no company is immune to such lawsuits. Recognizing that smaller companies now need this kind of protection, some insurers provide this coverage as an endorsement to their Businessowners Policy (BOP). An endorsement changes the terms and conditions of the policy. Other companies offer EPLI as a stand-alone coverage.

EPLI provides protection against many kinds of employee lawsuits, including claims of:

■Sexual harassment
■Discrimination
■Wrongful termination
■Breach of employment contract
■Negligent evaluation
■Failure to employ or promote
■Wrongful discipline
■Deprivation of career opportunity
■Wrongful infliction of emotional distress
■Mismanagement of employee benefit plans

The cost of EPLI coverage depends on your type of business, the number of employees you have and various risk factors such as whether your company has been sued over employment practices in the past. The policies will reimburse your company against the costs of defending a lawsuit in court and for judgments and settlements. The policy covers legal costs, whether your company wins or loses the suit. Policies also typically do not pay for punitive damages or civil or criminal fines. Liabilities covered by other insurance policies such as workers compensation are excluded from EPLI policies.

To prevent employee lawsuits, educate your managers and employees so that you minimize problems in the first place:

■Create effective hiring and screening programs to avoid discrimination in hiring.
■Post corporate policies throughout the workplace and place them in employee handbooks so policies are clear to everyone.
■Show employees what steps to take if they are the object of sexual harassment or discrimination by a supervisor. Make sure supervisors know where the company stands on what behaviors are not permissible.
■Document everything that occurs and the steps your company is taking to prevent and solve employee disputes.

To locate an insurance agent that specializes in EPLI, go to

Diversified Insurance at 714-988-3325.

There is NO Grace Period in Insurance

There is NO payment grace period in insurance.  I don’t care what you’ve heard from your neighbor or your Dad or Steve your auto mechanic, when the due date for your bill comes and you don’t pay it, you DON’T have insurance anymore. This is called a Lapse In Coverage (Insurance Defined).  Used in a sentence:
“Whoops, I didn’t pay my bill on time and now my insurance has lapsed“

Scenario

You receive a bill in the mail for your Auto insurance.  The payment due date is September 15th.  September 16th comes and you still have not paid your bill.  You get into an accident on September 16th… Too bad, so sorry, better luck next time. You don’t have insurance (This is called a lapse, remember).
I don’t care if you have been with the Insurance company for 20 years or 20 days you only have insurance coverage for as long as you pay for it.  So the day you stop paying for your insurance you no longer have Coverage.

If You Forget To Pay Your Insurance Bill & Need Insurance NOW - Don't Hesitate Please Call Jason @ 714-988-3325 - Now Accepting Texts, Emails, & Collect Calls !!!

The Grace Period

“But JASON, what about the Grace Period? I pay my bill late all the time and its not a big deal”
When you pay your bill late and continue to have coverage that is not a Grace Period.  Your independent  insurance agent has to contact the insurance carrier and get your policy Reinstated (Insurance Defined).  That means for the three, four, five days that you hadn’t paid your bill you Did Not Insurance Coverage.  When you eventually make the payment your independent agent has to convince the insurance carrier that they continue to offer you coverage.

Habitual late bill paying is a Big Deal because it can lead to a non-renewal letter from the insurance carrier.  Every insurance application has a question approximately reading:
“Have you ever had coverage canceled, declined, or non-renewed in the last 5 years?”
You will have to answer this question YES and that means you’ll have to pay more annual premium dollars.

The Rub

I purposefully tried to not to sugar coat this Insurance Myth because I don’t want to you to get caught not having coverage.  You may not think this is fair and you may not think its right, but it is the Truth.  I don’t want you to get Non-Renewed and have to pay more premium.  I don’t make the decision as to whether or not a company decides to Non-Renew you so all I can do is help you to be informed on how to not let that happen and fight for you if it does.

So pay your bill on time.  That way we don’t have to deal with this.  If you are having trouble paying your bill contact your insurance agent and see if there is a different payment plan that might help you.

If You Forget To Pay Your Insurance Bill & Need Insurance NOW - Don't Hesitate Please Call Jason @ 714-988-3325 - Now Accepting Texts, Emails, & Collect Calls !!!

Planning a Halloween PARTY?!?

Planning a Halloween PARTY?!?

We've Got You Covered For Your Special Event - From Liquor Liability to Treaters Although homeowners insurance is not usually the first thing that comes to mind at Halloween, it should be one of the items that is near the top of the Halloween list. The mere fact of the increased exposure (meaning a stream of people visiting the property), increases the possibility of a homeowners insurance claim. Listed below are a few things a homeowner can do to reduce the risk of having to report a Halloween insurance claim: Keep Fido out of the way. The constant ringing of the doorbell and the Halloween hustle and bustle gets dogs excited. It's best to make sure that the dog is occupied or kept away from the door so that he does not feel the need to protect his turf or playfully jump on trick or treaters, knocking them to the floor. The last type of Halloween treat a homeowner wants is a liability suit because of the dog. Practice extreme caution with candles. While the orange glowing effect of a candle adds to the Halloween ambiance, it can cause a fire if the candles are not carefully placed and monitored. Illuminate walking paths for trick or treaters. It is possible to decorate a home for Halloween keeping with the dark and gloomy tradition while simultaneously providing enough light for the walking path. Whether the walkway is lined with glowing pumpkins or the muted illumination of solar lights, it is important for the homeowner to properly illuminate the walking path to avoid unnecessary trips and falls. Be careful of the 'shock and awe' affect. The Halloween celebration invokes thoughts of horror, fright and shock. However, in an attempt to reduce the possibility of a law suit, it is recommended to refrain from tactics such as suddenly jumping out from darkened bushes or other such scare tactics. These blood rushing tactics may be fun at an amusement park fun house, but it opens the homeowner up to another source of liability. Amusement parks carry Haunted House Insurance to cover such risks, homeowners do not. Purchase additional coverage. If the thought of pulling in the reigns on a Halloween celebration puts a damper on the fun, maybe its time to consider purchasing additional insurance to cover the holiday. Homeowners can call their insurance agent, Jason Shroot,  to find out how much it will cost to increase their liability limits to cover the increased holiday exposure. By taking just a few precautions, homeowners won't have to spend their time worrying about potential insurance claims. The only thing they should be concerned about is whether or not they have enough candy for the hungry little trick or treaters. Have A Happy & Safe Halloween Jason Shroot 714-988-3325