Insurance Incorporated

There are two parts to your liability coverage on your auto insurance policy: bodily injury and property damage.

Bodily injury liability covers injuries that result from an accident:

1. Emergency aid at the scene
2. Physician medical bill from accident
3. Restitution for lost income
4. Funeral expenses
5. Lawyer fees

Property damage liability covers the property damage caused by the car in accident:

1. Property damage to houses or other buildings
2. Repair or replacement costs for other stationary objects
3. Automobile restoration or replacement expenses

It is highly recommended from our agency that people get at least a minmum of $50,000/$100,000 for bodily injury and at least $50,000 for property damage. Increasing the limits to those amounts from state minmum doesn’t cost that much at all! Having only state law minimum for automobile insurance can easily be exhausted from just one accident. The high cost of medical bills can severely exhaust your limits resulting in the rest of the costs be paid out of pocket. Here at Insurance Incorporated, we want our clients to be protected properly with the right coverage, so that is why we highly recommend having higher limits than state minimum.

If you are a homeowner or have assets we recommend higher limits with a personal liability umbrella of $1,000,000 to protect you and your assets from lawsuits.

Safeco pursues partnerships with best-in-class companies to offer your customers benefits that promote safe driving. OnStar, a company that aims at improving vehicle safety, is offering a free year of service to qualifying Safeco policyholders.

Qualifying policyholders
OnStar currently offers their advanced connection technology, including features such as in-vehicle security, hands-free calling, turn-by-turn navigation, crash response, and remote diagnostics systems, on more than 40 General Motors (GM) car models. Safeco policyholders who own an OnStar^®-enabled car, and who don’t currently use the service, are eligible for this promotion.

*Please note: Safeco will not provide policyholder’s private information to OnStar

Source via Safeco Insurance

It’s no question that insurance claim adjusters have seen them all. According to York Risk Services, a Parsippany, New Jersey-based third-party adjuster, they have handled some unusual claims in the past, such as:

(Keep in mind, this is just from restaurants)

• A husband in Texas filed a claim because he said he became ill after see a fly land in his wife’s salad. He said he suffered hypertension and anxiety that made him unable to eat at restaurants.
• A man sliced his finger while cutting into a steak at a restaurant. He said the knife was too sharp.
• A man claimed he got whiplash in a restaurant after a server dropped a tray and he quickly turned his head.
• A woman filed a claim after saying she got injured when a roll of toilet paper fell on her lap while she was using the bathroom. TOILET PAPER!

Enservio, a provider of contents claims solutions, compiled a list of the Top 10 Weirdest Contents Claims. You’ll be surprised at what people claim. Here’s the list:

1. Flamethrower
2. Multi Person Underwear
3. Dead relatives’ gold filings
4. 3.7 miles of plastic wrap
5. Petrified mastodon tusk
6. Life-size statue of Mike Piazza
7. Half a cow
8. Tub of melted stuff
9. Robot shoes
10. Invisibility potion

As entertaining as these claims are, these are REAL claims!

Named perils are events that a homeowners insurance policy specifies as covered, such as, lightning, fire, hail or windstorm, just to name a few. Depending on what type of policy you have, there are open peril or named peril homeowner policies. Named perils, you specifically name which perils your homeowners insurance will cover, on the other hand, open peril policies have broader coverage.

While a HO-3 policy is a much more comprehensive policy, the HO-2 policy covers 16 named perils:

1. Lightning or fire
2. Hail or windstorm
3. Damage caused by aircraft
4. Explosions
5. Riots or civil disturbances
6. Smoke damage
7. Damage caused by vehicles
8. Theft
9. Vandalism
10. Falling objects
11. Volcanic eruption
12. Damage from the weight of snow, ice, or sleet
13. Water damage from plumbing, heating, or air conditioning overflow
14. Water heater cracking, tearing, and burning
15. Damage from electrical current
16. Pipe freezing

Keep in mind, flood and earthquake are excluded from any homeowners insurance policy. They are their own seperate policies!

There’s been an on-going debate as who is the better driver. Is it men? Or is it women? Well, according to a national drivers test that was organized by GMAC Insurance, it was determined that men do.

According to the 7th Annual GMAC Insurance National Drivers Test, men had a test score that was slightly higher than 80%. That is significantly higher than females, who averaged just above 74%. What is more telling is that 27.2% of the women who took the test, failed. Compare that to the 13.6% of men who failed the National Drivers Test and we get a real sense of who knows the rules of the road better when it comes to men vs. women.

Men scored higher than women on a multiple choice test. That being said, it doesn’t really relate to the reality of driving on the road. To really be able to see who is the better driver, each man and woman would have to individually drive and be tested on their reaction, judgement, errors, etc.

Visit www.gmacinsurance.com and click on the National Drivers Test button to take the test and see how you size up when it comes to knowing the rules of the road.

Whether men are better or women are better, one thing is for sure that we all want to make sure we have the right auto insurance in place. The better driver would have the right protection in place.

Are you a LA Dodger fan? Are you a licensed California driver over the age of 21? Until June 30, 2011, Mercury Insurance has a promotion for those who complete a quote for auto insurance on www.mercuryinsurance.com to receive a redeemable voucher for two tickets to a LA Dodgers game!

Quotes must be completed by 11:59 p.m. June 30, 2011, to receive a voucher redeemable for your complimentary Dodger tickets

According to the 2009 FBI Computer Crime and Security Survey, 71% of American companies endanger their financial stability by not having insurance that will cover Internet liability.

Would you ever jump into a pool filled with sharks without the proper equipment or protection and bait attached to the side of your hip? Of course not! That is crazy, but essentially, that is what you are doing when your business is on the world wide web and you don’t have the proper protection in place. Think of the sharks as the individuals or groups that would be responsible for theft, extortion, defamation, and/or slander on behalf of your company that could be disasterous on your business. Think of the bait as your business’s website content, which is prone to intellectual property laws. These Internet exposures can be very damaging on your company.

Here are some scenarios:

1. If you send an e-mail containing a virus or malware, and customer information is compromise, you can be held liable.
2. If you or an employee acquired unauthorized access to another company’s information that is misued or stolen, you can be held liable.
3. If you or an employee publishes slander or defamation on the company’s blog, website, or any other Internet media, you can be held liable.

Technology is advancing, and businesses need to try and keep up with it. More companies are turning to computers to store data, such as, customer files, accounting, etc. That being said, you are at risk for these Internet dangers. A regular general liabilty and property policy would not cover your business for any Internet exposures. You would have to purchase cyber liability insurance. Cyber liability insurance offers coverage for data privacy, e-media and Internet liability, network security, infringement of intellectual property rights, professional services, and network security.

When should you get an umbrella policy? First, you should evaluate how much assests you have in your life. Generally, the more assests you have, the more protection you need.

An umbrella policy is an excess personal liability coverage that supplements your auto insurance and home insurance liability limits. It is in addition to those limits, thus, excess. For example, if you carry $250,000 for your auto liability limit per person, if you were to get into an serious accident, your auto policy would only pay up to $250,000 per person. Although, $250,000 dollars is a lot of coverage, it may not be enough if, for instance, the accident you got into had 5 people in the other vehicle, and each person suffered major injuries, you would be stuck with the rest of the bill, and the insurance company would only pay up to $500,000 maximum for that accident. For an accident like that, it could easily surpass those limits, which is why having an umbrella policy is very beneficial for a situation like that.

Of course, no one ever wants an accident like that occur, but it has happened. Are you going to be prepared if that times comes? Check with your agent to see if you need an umbrella policy, or maybe even to increase your limits. Having higher liability limits only benefits yourself, and it doesn’t cost that much. Purchasing an umbrella policy costs around 200 – 300 dollars a year for a million dollars worth of liability protection. You’ll probably never use it, but if you do, you’ll be glad you did.

Keep in mind, if you need an umbrella policy for your business, you would have to purchase a commercial excess liability policy. The umbrella policy mentioned above is for personal auto and home.

Visit our website at www.insuranceinc.com to find out more information or give us a call! (877) 468-2233

State Farm Insurance Co. has released its top 10 states for claims involving dog bites, with California on top in number of claims and Florida recording the highest cost per claim.

The Bloomington-based State Farm reported that California led the nation in dog bite claims at 369 in 2010, which represented a total payout of $11.3 million. Ranking second on the list is Illinois with 317 claims for a total cost of $9.7 million.

But Florida, which ranked seventh on the list, registered the highest costs per claim at $38,356 as opposed to the average claim of around $30,000 for California and Illinois.

According to Insurance Journal, State Farm paid out $90 million nationwide in 2010 as the result of 3,500 claims, 33 of which resulted in fatalities.

The Insurance Information Institute estimated that insurers paid out some $412 million in dog bit claims in 2009, the most recent information available.

Top 10 states for State Farm Dog Bite Claims in 2010