Is Your Pet Walker or Groomer Insured? Tell Them To Get Covered Here..!

Standard markets can provide coverage for pet service operations.

The coverage can be written on businessowners policies or commercial package policies. It can also be written by attaching a business endorsement to a homeowners policy.

This approach can satisfy many of the coverage concerns. However, there are unique exposures that standard policies may not cover.

"Most dog walkers and pet sitters are emerging businesses operated by individuals, and many of these people are not aware of the need to secure insurance," states Jason Shroot with JasonSellsInsurace.com.  These individuals typically love animals. They may care for the animal at the animal's home or at the sitter's home. More and more, these micro-businesses are becoming aware of the need for insurance.


Someone who goes into a customer's home to provide pet care services faces many of the same exposures as individuals and businesses that do housecleaning and provide other in-home services. A frequent cause of claims is when the pet sitter or dog walker loses keys. If a key can't be found, the lock may have to be replaced. The pet sitter may cause property damage or be accused of stealing items that belong to the pet's owner.

Additional exposures arise because the animal is a living creature. Jason Shrot says, "Because of weather, illness, car trouble, or other factors, the pet sitter or dog walker may not get to the customer's house in a timely manner, and the pet may be deprived of food and water or medicine. In other cases, it may injure itself, become ill, or cause damage to property."Individuals who perform dog walking services also have liability exposures because they are responsible for controlling the animal. If a dog being walked bites or injures a third party in some other way, the dog walker could be found negligent and responsible for the damages.
Professional liability coverage is also needed but may be easily overlooked.

Groomers do not have to be licensed, but there are a variety of training programs through which they can be certified. The best groomers (and the most desirable from an insurance standpoint) are highly trained and certified. A groomer’s training and experience is a major consideration in the underwriting process. We offer professional liability coverage for groomers and recommend that they buy it.” The major exposure for any pet care facility or pet care provider is injury to (or death of) an animal while in the facility’s care, custody, or control.” Groomers, trainers, and other pet service providers must have professional liability coverage, as well as veterinary expense coverage.

Lost pet reward and recovery coverage is another important option to consider.
Mobile groomers drive specially equipped vans to their customer’s location and wash and/or groom the pet in the van. Mobile groomers face essentially the same exposures as groomers who work in stores or kennels, but they also have auto-related exposures. Mobile groomers have customized vans with permanent fixtures that need to be covered in case of accident or theft. These businesses also need to ensure that they have downtime coverage and business income coverage in the event the equipment is vandalized or breaks down. And, they need protection in the case of loss or injury to the pet.”

For Your Pet-Related Business To Be Properly Insured Please Contact Jason Shroot at www.jasonsellsinsurance.com or 714.988.3325.

Got Any Bling - Why Your Net Worth Matters

Your Net Worth: Why It Matters


Net worth determines those rankings of the country's wealthiest people, but it's also a good financial planning tool for the rest of us. Net worth is like a scorecard, says Art Dinkin, a certified financial planner. "It's a good way to keep track of where you are financially." The figure is easy to calculate, Dinkin says. "You take everything you own and subtract everything you owe."

Assets include the market value of your home, stocks, bonds and the cash value of life insurance policies. Liabilities include your mortgage, property taxes, car loans, credit card balances and any outstanding bills.
Change Is What Matters

Current net worth alone is not that meaningful. But when you track it from year to year and note the changes, then it becomes a useful measure of your financial health. A drop in net worth is a cause for concern. "If your net worth isn't growing from year to year, it may indicate you're spending too much," Dinkin says.

If your net worth has declined, you're not alone. In September 2010, the Federal Reserve released data showing that total household net worth in the U.S. fell nearly 3 percent to $53.5 trillion in the second quarter of 2010. That's an average net worth of $182,000, though the super-rich skew the figure upward. Median household net worth—considered a more meaningful figure than the average—was $120,300 in 2007, the last time the Federal Reserve calculated the figure.

Calculate & Assess Annually

It's a good idea to calculate your net worth once a year. Once you have a previous figure to compare with, note how much your net worth changed and why. Did some assets appreciate? Were you able to save more? Did you take on more debt? The answers will help fine-tune your financial planning.

Get More Personal Finance Calculators at Diversified Insurance or Speak With A License Financial Advisor At 714-988-3325. 

Want to Protect Your Home?

 Get A Flood Insurance Policy...

Many people are looking for flood insurance policies for their homes, as the possibility of floods has been increasing at a rapid rate all around the world with each passing day.  Each year, thousands of Americans are placed in a troubling situation. That situation arises when their home floods. Flooding can occur due to hurricanes, thunderstorms with excess rain, or the break of a levee system. Whatever the cause for flooding, there are many families who are left to pay for all of the repairs to their home on their own.


In 1968, the National Flood Insurance Program was developed. This program was established to help make flood insurance affordable to all Americans, no matter where they lived. In addition to providing quality flood insurance, the National Flood Insurance Program also mandates the coverage that is being sold by agents and the amount of money that it is being sold for.
 
This is because many Americans that should have flood insurance do not. There are number of reasons why a homeowner decides not to purchase flood insurance coverage. One of the most common reasons for doing so is because of the cost. Many individuals mistakenly believe that flood insurance coverage is not worth the price. Unfortunately, there are many individuals who wish that they had purchased the coverage when their home flooded. The cost of flood insurance is nothing compared to the cost of rebuilding a home.


Another common reason why flood insurance coverage is not purchased is because some homeowners are not even aware that they need it. There are a large number of individuals who believe that flood damage to their home will be covered under their homeowner�s insurance policy.

This is a mistake that costs hundreds or even thousands of people thousands of dollars each year. It is important to note that floods can occur at just about any place and at any time. Many individuals refuse to purchase flood insurance coverage because they feel that it is a waste of their money.

Just because a home has not flooded in recent years does not mean that it cannot in the future. A home does not have to be located near a river, stream, lake, or pond to flood. Too much rain from an average thunderstorm can cause localized flooding.

To make flood insurance coverage worth the price, you should go about finding cheap flood insurance coverage. A large number of individuals purchase flood insurance from their agent that supplies them with auto insurance or their homeowner�s insurance. This may work out good for some individuals, but you should know that there is a cheaper way to obtain flood insurance.

For Quality, Low-Cost Flood Insurance Coverage You Should Speak To Jason Shroot, Your Local Insurance Agent At Diversifed Insurance Solutions in Newport Beach, California.  Please Call Us At 714-988-3325 For More Information And A FREE No-Obligation Quote.   

PROPERLY insuring your Rental Property

So, you’re going to be a landlord! Since it’s nearly ALWAYS a good time to buy real estate, you’re making an excellent move. The long-term value of real estate from an investment standpoint is, in my humble opinion, the best leverage available.

Now that you’ve taken that step, it’s important to get the right kind of insurance to protect not only your investment from the ravages of fire, vandalism, smoke, and broken water pipes, but also protection from the greedy hands of your tenants should they sustain an injury on your property in the form of Liability Coverage.

There’s usually 4 primary areas of coverage you want to explore when looking into insurance for your property that you rent to others. (doesn’t matter if it’s a single family dwelling, duplex, multi-plex or a condo.

1. Building Coverage – Protection for the structure.
2. Personal Property Coverage – Protection for the contents of the unit that you own. This includes refrigerator and window treatments primarily. It would also include any other non-building type items that you own and are stored or used in the rented dwelling.
3. Loss of Rents Coverage – This pays your fair market rent value to you whenever your property is rendered uninhabitable from a covered loss.
4. Liability Coverage – This is that important coverage that protects you when tenants or their guests are injured or sustain some “other kind” of “loss” that they think is YOUR FAULT and they come after you with vengence and an attorney!

1. BUILDING COVERAGE

This coverage is identical to homeowners insurance in that it protects the building against physical loss from perils like fire, smoke, vandalism, water damage from broken appliances and pipes, falling trees, automobiles, etc. It’s usually written on an ALL RISK basis. Which is fancy insurance talk that simply means EVERYTHING except certain listed exclusions is covered. In other words, if something happens to the structure and it’s NOT listed in the exclusions… IT’S COVERED!

You’ll want to get enough coverage here to rebuild the structure at current construction costs. Ask your agent of a general contractor what current constructions costs would be for a place like yours. For a more complete discussion, read HOW MUCH HOMEOWNERS INSURANCE DO YOU REALLY NEED (the section on the building coverage walks you thru the same thinking you’ll need to determine coverage on your rented property.)

2.  PERSONAL PROPERTY COVERAGE

This portion provides coverage for items that you likely brought to the property. (Exception here might be a refrigerator or window treatments) Rule of thumb is that if it’s permanently part of the structure it’s a building item, if not, it’s likely a personal property item. Most window treatment items (curtains, blinds, curtain rods) will be personal property (check with your agent to be sure) Refrigerator is personal property. An installed dishwasher is likely a building item.

Usually you don’t need too much coverage here — $2000 to $5000 is usually enough, but add your stuff up to be sure.

3.  LOSS OF RENTS COVERAGE

This is important to provide a consistent flow of income should you sustain damage to the property that renders it uninhabitable for a period of time. Policies can pay for up to 12 or 24 mos or some offer an indefinite period of time. Usually it’s just for a short time like a few days or a week or two.

4.  LIABILITY COVERAGE

This could be one of the most important decisions you make regarding your rental property insurance. My advice is to think of $1 Milliion as a minimum. The difference between $300,000 and $1 million is likely less than $100 per year ($8.00 per MONTH) Beleive me, a WISE investment in the protection of EVERYTHING you own. Liability losses can be wide ranging and EXTREMELY varied in nature.

Here’s a quick story about one…

Just this year a policyholder called me and told me that they were being sued because their tenant’s girlfriend accidentally let the tenant’s dog out of the back yard. The dog made a beeline across the street and kicked the stuffing out of the neighbor’s dog. The landlord (NOT the tenant or the girlfriend) was being sued by the neighbor for veterinarian bills that exceeded $3000 and for mental anguish, stress, and… well, you know the drill. Fortunately my policyholder had not only their Rental Dwelling Insurance in place but also a $1 Million Liability Umbrella standing between this crazy neighbor and everything they owned. Without that, this could have been their problem…
They could have been paying off this “little problem” for years. They could have risked everything they own in addition to their FUTURE EARNINGS by not having the foresight to get adequate Rental Dwelling Insurance and a LIABILITY UMBRELLA policy.

You can insure your rental property, your personal property and your liability exposure in one simple policy. Be sure to take your time and spend a few minutes in the chaos of the transaction to talk with your insurance professional about these important coverages.

You can always Jason Shroot with Diversified Insurance Quotes with Questions & Quotes at 714-988-3325 or jason@diversifiedinsurancequotes.com