Personal Articles Floater supplements coverage for possessions of higher monetary value, such as a diamond engagement ring, your grandfather's pocket watch, artwork, or a valuable collection. While most homeowners policies have limits on the dollar amount and type of loss that can be recovered, Personal Articles Floater will provide the protection you need for your most valuable possessions in the event of loss through theft, accident or natural disaster.
When would a Personal Articles Floater be needed?
The protection provided for personal property under the typical homeowners policy is very broad, and includes coverage for your furniture, clothing, and appliances. In addition, it provides limited coverage for such items as jewelry, silverware, furs, and firearms. However, it may not cover some types of loss that may be important to you, such as the stone falling out of your diamond ring, your antique statue that is accidentally broken, or a flooded basement that damages your personal computer.
In fact, most homeowners policies set dollar limits on the amount of protection offered to cover the theft of items such as jewelry or furs (usually only up to $1,000), firearms (up to $2,000), or silverware (up to $2,500). Optional add-on coverage to the homeowners policy (like our Ultra Additional Protection endorsement) is available to enhance coverage by providing higher limits and expanded protection for special property. This usually provides most homeowners with enough coverage.
However, if you own extremely valuable items, this still may not be enough coverage. For example, if you own a diamond ring valued over $5,000 or a collection of fine arts valued over $50,000, you need more protection and should consider buying a Personal Articles Floater.
What kind of property can be covered?
Many different types of possessions can be accommodated by the Personal Articles Floater.
Here's a quick listing of some of the items typically covered: •cameras (video or still) and related equipment •china and crystal •coins (rare and current) •firearms •furs •golfer's equipment •jewelry •musical instruments •personal computers •stamps (rare and current) •silverware •works of fine art, including paintings, etchings, pictures and other bona fide works of art (such as oriental rugs, statuary, rare books, manuscripts and bric-a-brac) of rarity, historical value or artistic merit.
Where are my items covered?
A PAF will cover most items worldwide. There is nowhere on the planet you don’t have coverage. A typical homeowner’s insurance policy may only extend coverage to the U.S. and Canada.ts are the only outlier in the “where” portion of a PAF policy. These items are subject to coverage in the U.S. and Canada, similar to every item in the homeowner’s policy.
If you have high value, or specialty items, whether a homeowner or renter, you may require a PAF to ensure you have the necessary coverage to replace or repair them in the unfortunate event a loss occurs.
Contact your local independent agent, Jason Shroot, if you are not sure what your homeowner’s or renter’s policy covers. As with all types of insurance, it’s generally better to pay a small amount upfront than be sorry later.
Why on earth would a home business need insurance? You already have coverage on your house, right? And if a visiting client slipped on your newly waxed kitchen floor while getting a coffee refill, homeowners insurance has that covered as well. I think. And after all, you don’t have time to keep the floor waxed anyway.
Not surprisingly, a recent study commissioned by the Independent Insurance Agents & Brokers of America (IIABA) shows that most home business owners don’t bother with insurance coverage. And yes, that does put the home entrepreneur at risk, since most homeowner policies don’t cover the liabilities and risks of in-home companies.
The survey shows that one in 10 U.S. households run some type of full- or part-time business in the home. Results also show that nearly 60 percent of those households do not have business-related insurance coverage. Of those home companies not covered, roughly 40 percent of their owners said they thought they were protected by some other type of coverage, while almost 30 percent said their businesses were too small to insure.
So, what types of home businesses need insurance? We called IIABA to find out. “In most cases, if it’s a crafting business or piano lessons, most home owner’s policies are sufficient and business related property can be added,” says Madelyn Flannagan, VP of education and research at IIABA. “If you’re running a professional service, though, you should consider a policy that covers liability and business interruption.” She also noted that if you have employees reporting to your home, you will need insurance and you will also have to comply with statutory laws and workers comp.
Flannagan explained the type of risk associated with running a home-based business. “By not having business insurance, home-based business owners are at risk for significant financial losses associated with theft, accidental damage, natural disasters, vehicle accidents and liability if an employee suffers an injury while on the job or a business guest is hurt while visiting the home-based business,” says Flannagan. “Homeowners insurance policies normally don’t provide protection in these situations.”
When I started my own home business, I called my household insurance broker and asked what I needed. I don’t have my editors traipsing through my living room grabbing copy, thank goodness – most of them live far, far away, But it turns out my computer and other office equipment is not covered since I use it primarily for business. Would anyone really ask what the equipment was used for it my house burned down? I don’t know, but who’s taking chances. The additional business coverage was pennies per week, so why sweat it. I have a cute little business rider now on my household policy.
The IIABA survey showed that home business owners with low incomes are less likely to have insurance, but the results also showed that 40 percent of business owners with household income of more than $75,000 per year also lacked adequate business coverage. Flannagan notes that while business coverage varies greatly, a comprehensive commercial policy for a home-based business run as little as $250 per year.
Check your homeowners policy to see were you’re already covered and where you’re at risk.
Check business policy options. There is a range of packages designed specifically for home-based companies.
Consider income protection. If your home-based business is a full-time occupation, you will also want to consider personal coverage and income protections such as life insurance, health insurance, disability protection and workers comp.
We all hate insurance costs, but a little bit of homework may prove that the expense is not really very painful. And in most cases worth the cost especially since an accident can occur at any moment.
For More Information Contact Jason Shroot @ Diversified Insurance At 714-988-3325
In all the commotion of Lindsay Lohan's fall from grace, little attention has been paid to the impact her risky behavior will have on her insurance — auto, home, life, and health. But consumers can learn from her mistakes, according to the Insurance Information Network of California.
Using Lohan's profile, ZIP code, vehicle model and current record of two DUIs and an at-fault car accident, IINC determined the average insurance premium difference she could pay for automobile insurance because of her risky behavior.
A single, 24-year-old female who lives in Beverly Hills ZIP code of 90210 (she lives in a condo in West Hollywood) and drives a 2009 Mercedes SL550 convertible would have access to 100 percent of the insurers offering auto coverage in California, IINC said. With a clean driving record, Lohan would pay approximately $2,075 every six months for a full coverage policy. But because of the at-fault accident and two DUIs on her driving record, the six-month premium jumps to $7,408.90. Worse yet, she would only have access to less than 10 percent of the companies in California offering auto coverage because most of the major insurers in the state would not want to insure her. Instead, she would probably have to purchase coverage for bad drivers through the Department of Insurance, IINC said. Furthermore, her risky behavior also could affect the premium she would pay for life insurance, as some life insurers will pull a DMV record when determining a customer's premium, the association indicated.
"Before we initially did the analysis, we thought her insurance would double," said Pete Moraga, communications specialist for IINC. But, the increase in her premium because of her driving record is 350 percent more because she made some bad choices, compared to if she had a clean driving record.
"The big picture is that all of us can learn from her mistakes," Moraga said. "People don't always understand that what they pay for insurance is based on their own risk profile … and risky decisions we make in our daily lives will impact that cost." A DUI stays on a person's driving record for 10 years, for instance.
Lohan might be able to afford paying nearly $15,000 for auto insurance, but for the general public, it's important to know that the decisions we make and risks we take will affect your pocketbooks, Moraga said. "If we take risks and make bad decisions, our insurance will be much more expensive."
For Auto Insurance Quotes & Questions Please Contact Jason @ 714-988-3325
The debate over the California car insurance "loyalty discount portability" initiative is heating up. But what in the heck does "loyalty discount portability" mean? And why should you care?
Basically, the "loyalty discount portability" that Proposition 17 would provide just means that car insurance companies in California will be able to give drivers a discount for having continuous coverage, no matter what company that coverage was with. Right now, only your current company can offer you a discount for having continuous coverage with them.
Proponents argue that this will make the market more competitive and potentially drive down car insurance rates for drivers who have maintained coverage. Opponents argue that by rolling back some of the protections in Proposition 103--passed in 1988--car insurance companies will be able to raise rates for drivers who have not had continuous coverage, such as military personnel serving out of state.
Who should you believe? It's difficult to say--most insurance industry types are supporting the measure, while many consumer groups are coming out against it.
My sense is, if you're one of the tens of millions of California drivers who have maintained continuous coverage over the years, you may very well come out ahead and have more affordable options to consider. If you haven't had continuous coverage, the jury is probably still out.
For Questions & Quotes On Your AUTO Coverages Contact Jason @ 714-988-3325
ATMs are under siege more than ever from skimming. Skimming, where ATM thieves steal your PIN and account number using remote devices, is increasing dramatically. Often done by sophisticated crime rings from the Eastern bloc countries, ATM skimming is becoming a high-tech art that's hard to detect.
That's bad news for consumers. Experts say that losses from skimming are approaching $1 billion. Nearly one in five fraud victims reported having their credit card PIN or debit card ATM PIN information stolen in 2009, according to Javelin Strategy & Research. And Robert Vamosi, an analyst handling risk, fraud and security at Javelin, sees ATM skimming continuing to rise this year and next.
"Consumers aren't aware of ATM tampering," he says. "ATMs have 40 years of trust."
Skimming isn't new. It's been around for at least 10 years. What has changed is that the "technology of the bad guy is getting better and better every year," says Robert Siciliano, a security expert based in Boston. "It's up to consumers to watch their own backs."
Typically, ATM thieves use two devices to capture your PIN and card data. One device sits near where you swipe your card and reads the magnetic stripe on your card with your account number. Even more confusing, the device mimics the card slot. "The technology has evolved to a point where the molded plastic fits like it belongs there," says Siciliano. Devices are even readily available over the Internet for as little as $300.
A camera, hidden from view, captures the PIN. "You can get the data in real time," says Siciliano. "You can be in your car with a laptop remotely accessing the device."
Thieves then burn the data onto a blank card to access your money.
U.S. Secret Service spokesman Max Milien wants consumers to be warned. "The public is notified after an event," he says. And don't take bank security for granted. Fraud can occur at any bank in any part of the country. Thieves are even sending out false text alerts to get consumer data.
Banks, they say, are slow to adopt anti-skimming measures. When Javelin surveyed 25 banks, four stood out, though, for their anti-theft measures. They are Bank of America, Chase, Citibank and Wells Fargo.
Experts add that debit card users are most at risk. Typically, consumers must report fraudulent charges within two days, limiting your liability to $50. If you report ATM skimming fraud within 60 days, you're liable for the first $500 of any transaction. Siciliano adds that thieves carefully orchestrate ATM withdrawals, maxing out cash withdrawals one day and waiting until after midnight for the next stash, which quickly adds up.
Here Are Four Tips To Help You Protect Your Account.
1. Cover your password with your hand
Hidden cameras are disguised so they can pick up your password. By protecting it, ATM thieves can't access your account.
2. Use familiar ATMs and limit your visits
ATMs in dimly lighted spots or used late at night could be more susceptible to fraud, while ATMs under video surveillance can be safer. Stay away from ATMs at retail stores or restaurants, adds Siciliano. Recently, skimming devices were found on ATMs in a popular grocery store in central Florida. Airports, convenience stores or kiosks are equally vulnerable to ATM thieves. Still, even highly trafficked ATMs outside a bank branch have been targeted by thieves.
Also, try to limit your visits to the ATM. "With frequency, there's risk," says Siciliano. 3. Check bank balances frequently
Given the two-day window for reporting fraud, it pays to check your account frequently. If you don't report fraud within 60 days, you have unlimited liability. "Sign up for alerts and notice unusual withdrawals," says Vamosi.
With credit cards there are more protections in place, and you can dispute charges."You have at least a billing cycle," says Siciliano.
4. Observe the ATM
Vamosi cautions consumers to look at an ATM to make sure a card slot is "legitimate and not tacked on." Look for things that strike you, he says. "Some people have felt that when they inserted their card, something went awry," he says. In that case, try another ATM.
When protecting your account against ATM thieves, "it's all about awareness, paying attention and understanding risks," says Sicilano. "There are 400,000 ATMs and every one of them is susceptible to fraud. The speed and convenience of technology has replaced the security of technology."
You’ve always dreamed of planning the perfect wedding, but no matter how carefully you plan it, there are many things that can go wrong – things that are out of your control.
What if your reception venue goes out of business a week before the wedding and you lose your deposit and have to find another location? What if your bridal shop closes, leaving you without a gown? Or a hurricane causes your wedding to be postponed?
A wedding is a big investment. The average wedding today is $27,000. That is why it is so important to know about Wedding Insurance. After all, you wouldn’t buy a new car that costs that much without insuring it. Here are some of the things a Wedding Insurance policy covers:
•· NO DRESS – you can get repair or replacement cost if the bride’s wedding gown or groom’s tuxedo is lost or damaged.
•· LOST DEPOSITS – you can be reimbursed for your deposit if a vendor goes out of business, declares bankruptcy before your wedding, or simply fails to show up.
•· LOST RINGS – you can receive repair or replacement cost if the bride’s or groom’s wedding bands are lost or damaged.
•· SEVERE WEATHER – if severe weather forces you to postpone your wedding, you can be reimbursed for non-recoverable expenses.
•· RUINED PHOTOS – if your photographer’s film is defective, or negatives are lost or damaged, you can cover the cost to take new photos.
•· LIQUOR LIABILITY – you can add this coverage to protect yourself against liability rising from alcohol –related occurrences.
•· SUDDEN ILLNESS – if the wedding needs to be postponed because sudden illness prevents the bride, groom or their parents from attending, you can receive reimbursement for non-recoverable expenses.
Wedding Insurance is very affordable and well worth the peace of mind it brings to the most important day of your life. Like all insurance, there is a lot to know when it comes to buying Wedding Insurance. That’s why it’s important to have an independent agent like Jason Shroot looking out for you and your family. As an independent agent Diversified Insurance can shop the market to help you get the best policy at the best price.
Stay as safe as possible during an earthquake. Be aware that some earthquakes are actually foreshocks and a larger earthquake might occur. Minimize your movements to a few steps to a nearby safe place and stay indoors until the shaking has stopped and you are sure exiting is safe.
When you feel an earthquake, duck under a desk or sturdy table. Stay away from windows, bookcases, file cabinets, heavy mirrors, hanging plants, and other heavy objects that could fall. Watch out for falling plaster and ceiling tiles. Stay undercover until the shaking stops and hold onto your cover. If it moves, move with it.
DROP to the ground; take COVER by getting under a sturdy table or other piece of furniture; and HOLD ON until the shaking stops. If there isn't’t a table or desk near you, cover your face and head with your arms and crouch in an inside corner of the building.
Stay away from glass, windows, outside doors and walls, and anything that could fall, such as lighting fixtures or furniture.
If in bed when the earthquake strikes, hold on and protect your head with a pillow, unless you are under a heavy light fixture that could fall. In that case, move to the nearest safe place.
Use a doorway for shelter only if it is in close proximity to you and if you know it is a strongly supported, load-bearing doorway.
Stay inside until shaking stops and it is safe to go outside. Research has shown that most injuries occur when people inside buildings attempt to move to a different location inside the building or try to leave.
Be aware that the electricity may go out or the sprinkler systems or fire alarms may turn on. DO NOT use the elevators.
If you are in a HIGH-RISE BUILDING, and not near a desk or table, move against an interior wall and protect your head with your arms. Stay indoors. Glass windows can dislodge during the quake and sail for hundreds of feet.
If you're in a CROWDED STORE OR OTHER PUBLIC PLACE, do not rush for exits. Move away from display shelves containing objects that could fall.
If you're in a WHEELCHAIR, stay in it. Move to cover, if possible, lock your wheels, and protect your head with your arms.
If you're in the KITCHEN, move away from the refrigerator, stove, and overhead cupboards. (Take time NOW to anchor appliances, and install security latches on cupboard doors to reduce hazards.)
If you're in a STADIUM OR THEATER, stay in your seat and protect your head with your arms. Do not try to leave until the shaking is over then leave in a calm, orderly manner. Avoid rushing toward exits.
It’s summer, and thoughts of Americans everywhere turn to water. Whether it’s in the pool, on the lake, at the ocean or in the river, water draws people almost magnetically as the weather turns hot.
Swimming pools are popular but also present a risk to a homeowner. While homeowners are welcoming friends and family with a clear, clean pool, they’re also assuming significant financial risks by doing so. What’s more, they are unwittingly facing liability from strangers since pools are an attractive nuisance that can pose a risk to uninvited guests, children in the neighborhood and intruders. Homeowners can be found liable for injuries to uninvited guests.
Drowning is the second-leading cause of unintentional injury-related death for children ages 1 to 14 years, reported the American Red Cross. Its survey of more than 1,000 adults showed that more than 90% of families with young children plan to be in the water this summer, and almost half (48%) plan to swim in a place with no lifeguard. If that’s on your property, be prepared.
Insurance plays a key role in protecting consumers who have pools on their property. Homeowners and liability insurance cover bodily injury and liability protection in the event of an injury or claim. Plus, insurance carriers, by virtue of inspecting or requiring compliance with building codes, can make a swimming pool safer.
If you have a swimming pool:
1) Let us at Diversified Insurance your Trusted Choice® insurance agent or insurance carrier know. Coverage is most likely to be provided if the structure and risks are known prior to a claim. Insurance carriers view pools as presenting a unique and heightened set of risks. Put simply, a swimming pool will increase the risk of property damage or a liability claim, as compared to a home without one.
Typically, a homeowners insurance policy covers property damage to a home and additional structures. An in-ground pool usually is considered an “additional structure” in insurance parlance, as are sheds and detached garages. An above-ground pool may be considered “personal property” and insured under that section of the homeowners policy.
Homeowners insurance also offers liability coverage in the event a homeowner is hit with a claim or lawsuit as a result of an incident in or near the swimming pool. Friends and family who are injured in a pool accident may not want to sue, but may need to sue in order to pay medical bills and replace lost income.
2) Check the amount of homeowners property coverage. A standard coverage amount for additional structures on a property is 10 percent of the amount written for the home itself. Thus, a $500,000 home might have $50,000 of property damage coverage for other structures. Ask your independent agent to help you determine the proper amount of property coverage.
3) Check the amount of homeowners liability coverage. One claim can pierce a standard homeowners liability insurance limit, so check with Diversified Insurance your Trusted Choice® insurance professional to discuss increasing the limit and/or adding an umbrella policy. An umbrella (or excess liability) policy pays up to a limit (usually $1 million) for claims.
4) Check the perils covered. Homeowners insurance comes in a variety of types, and some policies protect against additional “perils” in addition to fire, lightning and windstorm. Other perils may be excluded. Check which type of policy you have and whether it suits your needs. For pool owners in the north, note that damage by freezing/thawing is usually not covered by homeowners insurance.
5) Check that your pool is up to code, and whether any features are specifically not permitted or insured. Plumbing, fencing and deck requirements all can vary by state and locality. A homeowner increases the risk of loss if a pool is not up to code. Additionally, amenities such as diving boards and slides are particularly hazardous and may be excluded by building code or can be uninsured.
The U.S. Centers for Disease Control noted that drowning prevention requires appropriate adult supervision while children are in the water, as well as multiple layers of protection (such as four-sided isolation fencing, pool alarms, and locked gates) to keep children away from swimming pools.
If you have any questions about your insurance and how they relate to a swimming pool contact us here at Diversified Insurance Quotes or 714-988-3325!
You own a condo and the association has insurance. So what’s the big deal? Well, your condominium association insurance covers the condominium building, commonly owned property, and liability insurance for the association...BUT NOTHING OF YOURS PERSONALLY !!!
Unfortunately there are many cases where that insurance policy won’t cover you or your things — like a break in, water damage to your living room walls, or someone injuring themselves slipping on your wet kitchen floor. That's why you need condominium insurance designed specifically for condo or co-op owners.
Condominium policies protect your personal property and the interior of your unit. You will also have liability protection for bodily injury or property damage to others.
What Does A Condo Insurance Policy Cover?
The articles of the condominium association (CSRs) and state law determine exactly what’s covered under the association's master insurance policy.
In most cases the association's coverage STOPS after the exterior walls meaning that you are responsible for the interior walls and possibly for fixtures, as well as your personal property and liability. This is where your own personal condo policy would come in.
Looking for more detail? Just give Diversified Insurance a call at 714-988-3325 & We'll Be Happy To Provide You With An In-Depth Explanation And Personalized Condo Insurance Quote.
I thought today that we could have some fun playing a little game of “fact or fiction” in testing your insurance knowledge. Fun is a term that I would use somewhat loosely as fun and insurance are not often found in the same sentence.
So, with that in mind, let’s try to make it a “fun” exercise.
The answers are located at the end of this entry.
“Home insurance policies cover you against flood.” Fact or fiction?
“All insurance companies are the same so the only thing that matters is the price?” I thought I’d throw you a softball for the first one. So…fact or fiction?
“Home insurance policies cover earthquake.” I threw that one in there for the three readers I have on the west coast. Fact or fiction?
“An insurance policy is like a bank account. Everyone that pays in should get something back out” Fact or fiction?
“Dog bites are one of the largest causes of home insurance liability claims.” Fact or fiction?
“A tree falls on your house, but nobody is around to hear it” “It’s covered, right?” Fact or fiction?
“I was playing with a friend shooting off fireworks in the house and I accidentally burned down the house. It’s covered, right?” Fact or fiction?
“I was sending a text message about Brad and Angelina’s new baby when I drove into the back end of a pick up truck. I’m sure it’s covered.” Fact or fiction?
“I just changed to a new insurance company. I should be fine because I made sure my coverage was exactly the same.” Fact or fiction?
"All independent insurance agents are the same and I can always trust that an agent who works for a big brand name insurance company knows their stuff." Fact or fiction?
Alright, no peaking! If you are finished, here are your answers:
1. Fiction! No two insurance companies are alike and often times, as my grandmother used to say, “You get what you pay for.”
2. Fiction! Even though a policy may be written on a particular company’s paper, the government sells flood insurance. It’s a coverage that is often overlooked, especially if you are not in a flood zone.
3. Fiction. Generally speaking, earthquake is not covered, but many companies will sell it as an “add on” to your homeowner’s policy.
4. Fiction! Insurance is a six month or one year contract. If you don’t need the coverage during that time, the contract expires and a new one is required.
5. Fact! Dog bites are a big liability risk, that’s why many companies are picky about the breed of your dog.
6. Fact! It’s covered.
7. Fact! Unfortunately, there isn’t a “stupidity” clause in the contract.
8. Fact! See number seven.
9. Fiction! See number one.
10. Fiction! Se number one. No 2 insurance agents are the same - and sometimes even these big brand name insurance companies don't properly train the agents that represent their company.
So, how did you do? If you answered all 10 correctly, you may need to get out more often. If you got 6 to 9 correct, you are doing pretty well with your insurance knowledge! If you got 1 to 5 correct, it may be time to call Jason Shroot, your insurance agent at Diversified.
Have a safe day! Please Call for Questions & Quotes @ 714-988-3325
Have You Ever Hired Maids To Help Clean Your Home?
When one mentions employment practices liability insurance, most homeowners likely would think of
corporations, small businesses, hospitals, schools or commercial construction sites.
Yet according to the U.S. Dept. of Labor, there were 917,120 maids and housekeepers employed in 2009. And households who hire residential employees should be aware of the potential risks associated with becoming an employer, because domestic employees also sue.
Homeowners must recognize that they become employers the moment a domestic employee first walks through the front door. This relationship exposes the homeowner and all household residents and guests to litigation for conduct toward domestic employees.
Consider the following scenarios:
1 The maid begins to feel like she has been sexually harassed because the husband often displays a bawdy sense of humor and tells obscene jokes
2 The wife makes a racially derogatory comment to a friend on the phone, which is overheard by the employee, who is later fired
3 The property manager brings a groundless sexual harassment lawsuit against his employer because he has fallen on hard economic times
4 The employer terminates the nanny because the employee was unwilling to do something illegal or immoral.
The above examples show how accusations of harassment and discrimination—originally found in the workplace—have entered into the perceived safety of the home as well.
Jeff Cox, president and CEO of Lloyd Bedford Cox Inc., with offices in Bedford Hills, N.Y., and Greenwich, Conn., said that his clients should know about significant exposures when they hire domestic help. "It’s amazing how quickly a relationship can turn south when there is a dispute and money is involved," he said.
Cox pointed out that his agency uses a "risk analysis interview" to identify its clients’ exposures. Once the agency assesses the clients’ lifestyles and realizes that they have domestic employees or are planning to hire someone, the conversation switches to personal-line employment practices liability (EPL) coverage.
"Clients are bound by the employment rules and regulations of their state, so we work with them and the carrier to insure proper coverage," Cox said.
Liability
In today’s litigious society, inappropriate words from a guest to a housekeeper or a few seemingly innocent jokes can create a hostile work environment and ultimately cost a client thousands, if not millions, of dollars.
Moreover, homeowners are subject to wrongful employment allegations. According to reports from Jury Verdict Research, the median employment practices settlement for 1999-2005 was $75,000; this figure increased from the previous time period of 1997-2003, in which the settlement was $60,000. However, these settlements do not factor in the incalculable cost of a damaged reputation. Even if the allegations are false, substantial defense costs averaging more than $100,000 can result. Additionally, research has shown that juries have a tendency to be sympathetic to the plaintiff in these cases.
With today’s shrinking economy, some homeowners may decide they need to trim their domestic staff. Letting employees go may open homeowners to wrongful termination lawsuits. To help avoid a suit, a written agreement between homeowners and employees should contain an "employment at will" clause that allows termination without cause for any reason.
Employers’ Responsibilities:Even conduct among the residential staff creates exposure. Clients often lose sight of their responsibilities as employers because the household is seen as a safe and informal space and verbal contracts are often vague.
Wealthy individuals often think of domestic employees as "part of the family" instead of maintaining a traditional employer/employee relationship. However, state and federal employment laws do apply to these relationships. Homeowners place themselves at high risk if they do not manage their staff by communicating clear rules and expectations. In fact, with the assistance of qualified legal counsel, homeowners should draft employment manuals and contractual agreements.
Household employers need to clearly communicate their expectations and keep a well-organized and documented human resources file on every employee. An appropriate household management assessment can provide clients with advice on hiring, legal issues and security measures with regard to household employees. Proper background checks, well beyond simple Internet research, are recommended for anyone working in the home.
Homeowners also need to know that they cannot totally control the work environment. They can be held liable for conduct that might be perceived as obscene, discriminatory or offensive. Thus, homeowners should take steps to educate themselves and their families about their responsibilities toward domestic help. Staff members also need to be trained on proper work conduct.
Employment Practices Liability:EPL insurance can provide coverage for settlements, legal fees and jury awards for insured employers accused or convicted of wrongful employment acts. In addition, this insurance sometimes includes
overage that can help pay public relations expenses to minimize damage to the homeowner’s reputation.
Homeowners and umbrella policies exclude employment-related exposures. For the few insurance carriers that offer domestic EPL insurance, it may be offered as stand-alone or as an endorsement to a homeowners or excess liability policy.
Homeowners need to be aware of the many liability exposures that are associated with hiring domestic help. "Clients should not be afraid of the risks, but understand that these realities do exist," Cox said.
Clients of Jason Shroot & Diversified Insurance working closely to help their clients mitigate the risks and secure proper employment liability practices coverage in the event a loss does occur.
If you live in a condominium or rent an apartment, your landlord's or condo association's insurance should cover damages to the building -- meaning the structure itself. But such a policy only covers their building and not your belongings. That's why you should have renter's insurance. Regardless of whether you live in a house, condo or apartment, replacing your stuff or defending yourself against a liability lawsuit can take a big toll on your bank account.
Basic home insurance policies are generally known by their number. Both the HO-4 (for renters) and HO-6 (for condo owners) policies cover losses to your personal property (or what is known as "Perils"):
Fire or lightning
Windstorm or hail
Explosion
Riot or civil commotion
Aircraft
Vehicles
Smoke
Vandalism or malicious mischief
Theft
Damage by glass or safety-glazing material that is part of a building
Volcanic eruption
Falling objects
Weight of ice, snow, or sleet
Water-related damage from home utilities
Electrical surge damage
That just about covers it, doesn't it? You may notice, however, that floods and earthquakes aren't on the list. If you live in an area prone to those, you'll need to buy a separate policy or a rider on your renter's policy.
It is necessary to understand that renter's insurance policy may be written as "actual cash value" (ACV) or "replacement cost coverage."As the name implies, ACV coverage will pay only for what your property was worth at the time it was damaged or stolen. So, if you bought a television five years ago for $300, it would be worth significantly less today. While you'd still need to shell out about $300 for a new one, your insurance company will pay only for what the old one was worth, minus your deductible.
Replacement cost coverage, on the other hand, will pay for what it actually costs to replace the items you lost. Usually, you'll have to pay out of your own pocket to replace your damaged items and submit the receipts to the claims adjuster for reimbursement. Even so, you'll still get a bigger chunk of change back than if you bought ACV coverage.
Make sure you also let your agent know about any particularly valuable items you have. Things like jewelry, antiques and electronics may be covered up to a certain amount, but if you have some items that are unusually expensive, like a diamond ring, you'll probably need to purchase a separate rider. If you don't talk to your agent about an expensive item when you buy the policy, you probably won't be able to recover the loss.
Contact Jason @ 714-988-3325 To Ensure You Obtain The Proper Coverages With Low Cost Insurance. Diversified Insurance Will Insure You, Your Family & Your Peace of Mind !
Driving drunk is a very dangerous thing to do, and can result in a variety of different consequences. If you are convicted of a DUI you will have to deal with points on your license, drivers license suspension, high fines, attorney/court costs, and more. While these items just mentioned tend to be short-term consequences, you may not have considered the long-term consequences that can arise if you’re convicted of a DUI. If you’re convicted of a DUI your car insurance rates and even your ability to have insurance coverage will be affected.
Higher Rates
More than likely your insurance company will be notified if you’re convicted of a DUI. If the company does not suspend your insurance coverage, more often than not, you can wave goodbye to low rate car insurance for a long period of time. If you don’t like the higher rates your current company wants to charge you, you can try changing insurance companies, but even changing typically won’t save you money because you’ll be labeled as a high risk driver, which will result in you paying higher car insurance rates wherever you may go. More than likely your insurance company will have to send an SR-22 Proof of Insurance Certificate to the state showing that they are covering you, in order for your drivers license to have your license suspension removed.
Cancellation
In some cases, if you have been convicted of a DUI, some car insurance companies will actually cancel your insurance policy. Not all companies can issue an SR-22, so this can result in your car insurance policy either being canceled or the company not renewing your policy at your current renewal date. Although some states may not allow your insurance company to cut off your coverage in the middle of your plan, they can stop covering you when your renewal dates come around. If you have questions about cancellation policies, you may want to review the laws in your state or sit down with your agent.
Available Insurance
If you end up having your current insurance policy canceled or not renewed, there are a variety of companies that will be able to offer you car insurance coverage. While you’ll be able to find coverage, your new car insurance rates will still reflect the fact that you have a DUI on your record. In some states the DUI is only on your record for five years; however, other states may keep it on your record for life.
Being convicted of a DUI can have a variety of different consequences, both short-term and long-term, and there is a good chance that it could affect your car insurance rates for the rest of your life. If you are interested in keeping your car insurance rates low, plain and simple, don’t ever drive drunk. Driving while intoxicated is just a very bad decision. It not only comes with financial consequences, it puts you and others at great risk safety-wise as well. Before you decide to get behind the wheel of a car after drinking, make sure you take a moment to think about the consequences that can last a lifetime.
To learn more about how you can save money and greatly reduce your car insurance rates, please visit www.diversifiedinsurancequotes.com or Call 714-988-3325.
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