Answers to homeowners about fallen trees and damages

"If my tree falls in my yard will my home insurance pay for it?" We get this question all the time; however, the answer varies depending on a number of factors. Generally, this is how it works:
The answer is Yes. However, the tree must hit a covered structure to trigger your homeowners policy. Also, there is generally a limit per tree and a limit per loss. For example, if the coverage is $250 per tree, and a $500 limit for the loss, then you are only covered for $500, regardless of how many trees fall. If the tree does not hit a covered structure then the tree is not covered - so therefore, if it falls and lands only on, say, your driveway or sidewalk in front of your house, your homeowners insurance won't cover it.

We also get another similar question: "If my tree falls and lands in my neighbors yard, who pays for it?" Each party puts the claim in through call his/her own house insurance. So your house insurance will pay to remove the part of the tree on your property as long as it hit a covered structure. (house, fence, shed, etc.) Your neighbor will have to call his/her own home insurance company to have the portion of the tree on their property removed. It is likely unless the tree hit a covered structure (owned by the neighbor) it won't be covered by their policy and they will have to pay for any removal cost out of their own pocket.

Here's another common question: "My neighbor’s tree falls and hits my house - who covers it?" Even though it’s the neighbor’s tree, it’s still going to be covered by your policy. Your policy will fix your house, and then remove the portion of the tree that is on your yard.

Some insurers now sell optional endorsements that will remove the requirement for the tree to hit a structure. It’s generally not that expensive to add these options if your insurer offers it, and especially if you have at least one or more trees in your yard or the vicinity of your home, it’s worth checking with your agent.

Important facts to know about vacant homes

Did you know that your Homeowners Insurance policy will severely restrict your coverage if your home is left vacant or unoccupied for more than 30 days, and in most cases will exclude all coverage if the home is vacant for more than 60 days?

In today’s real estate market, more and more investors are faced with owning vacant or unoccupied homes. It is more important than ever that you make sure that your investments are properly covered from further downside risk. Whether your home is on the market, between tenants, or undergoing a renovation, regular insurers do not like vacant properties...but we know and understand the unique needs of investors who require insurance on their vacant dwellings.

Unfortunately, vacant homes are at much greater risk of vandalism, fire, and water damage losses. For this reason, owners are faced with a double whammy…reduction in coverage, and higher premiums related to Vacant Dwelling insurance.

Select Insurance Group is a nationally licensed specialty insurance agency providing vacant home insurance coverage through more than 30 insurance providers for the unique needs of real estate investors, whether your home is currently rented or vacant.

We will insure your home, whether it is a single family residence, duplex, or under renovation. But we will only insure vacant dwellings, rental dwellings, and second/seasonal homes…that is why we are the experts and can always obtain the best coverage and rates to suit your particular needs.

Not sure which policy is right for you? Click here to shop insurance options available to you or call 1-855-GET-SELECT (438-7353) today.

Reviewing your insurance coverage

When was the last time you sat down and really looked at your insurance policies - your car insurance, your home insurance and your personal liability insurance? If you are like most people, it's been years. More likely, you receive copies of your policy from your insurer and file them away somewhere and you never look at them again -- until or unless you need to file a claim. That's a big mistake. Instead, you should set aside some time to review all your policies. You just might find that there are opportunities to save some real money.

For example, did you know that discounts are offered to policyholders who have all their policies with one insurer? Take a look at your policies and see if you can consolidate with one carrier. Also, remember that you can generate substantial savings by changing your deductibles. Many people select a relatively low deductible for their car insurance --sometimes as little as $250. If you have a good driving history, you can increase that deductible to $1,000 and reduce your policy cost by 15 to 20 percent. Similarly, if you increase your homeowner's insurance deductible from $250 to $2,000 or slightly higher, you could see a premium decrease of 25 to 30 percent.

Besides the savings you could realize in premiums, you really do need to be reviewing your coverage to make sure it is still appropriate. For example, you may have taken out a personal excess liability (or umbrella) policy years and years ago and a $1 million coverage level may have seemed adequate at the time. However, maybe you have saved more and your net worth has increased and maybe now a $2 million policy is needed. These policies do not increase automatically so it is up to you to stay on top of the situation. Also, you should be aware that the addition of an extra $1 million of coverage on an umbrella is usually quite cheap. The first million in coverage is usually the most expensive.

Finally, if you have done any renovations to your home and have not updated your information with your insurer be sure to do so as soon as possible. It seems hard to believe but there have been several instances where people have substantially improved their homes (sometimes adding extra bedrooms and bathrooms) and forgot to inform their insurer. In those cases, if there is a loss, the new additions are not covered. The last thing you want to do is spend $50,000 or $100,000 on improvements and not be able to get reimbursed in the event of a loss

call me at 1-855-GET-SELECT for your free insurance review.

steve ludwig
president/ceo
select insurance group
saint peters, mo

wind and hail insurance

When selecting adequate insurance for your home, consider such perils as natural disasters (like what has happened in the St. Louis, MO area this past week). In case you purchase property in an area that is prone to tornados or floods, it is vitally important to have sufficient coverage to protect a home or real estate investment from considerable damage. Wind and Hail Insurance will cover the cost of rebuilding your home in case tornado damages the building. This coverage will protect you against wind, wind gusts, hail, rain, tornadoes, or cyclones caused by a hurricane. These disasters may result in direct physical loss or damage to property. Hailstorms may not result in the catastrophic damage often associated with windstorms or fire, but are still likely to result in significant damage to the roof of the building.

If your property is located in one of the coastal counties, your policy may exclude coverage for wind and hail damage. In this case, to be protected, you will need to obtain Wind and Hail coverage separately from something like the Texas Windstorm Insurance Association (TWIA), or special insurance pool. Your property will have to pass a windstorm inspection and can qualify for association coverage only in case it meets certain windstorm-resistant building standards.

Make sure your Homeowners or Commercial Property coverage is current and that it will pay the full replacement cost of your property should the property be damaged by windstorm or hail. Consult with a real estate or insurance professional to choose the best option available. Learn what your policy's limits are. Remember that you may have to purchase separate policies to cover wind, hail, and flood damages. Homeowners can purchase Wind and Hail Insurance with a deductible based on a percentage of possible damages, which will increase as the amount of damages increases, or with a fixed "all peril" deductible, which is considered to be the best option in case of considerable loss.

Note that there are certain ways that can help reduce damage in the event of wind and hail. Such areas as the roof, the windows, and the doors of your home can be improved to help mitigate losses in the event of a hurricane and prevent a structure from being penetrated by the wind, water, sand etc. For instance, it is very important to keep the doors and windows sealed shut and keep the roof intact. The condition and materials of the roof covering and proper angling of the roof can considerably improve the impact resistance.

Get your quote here. It's free, simple, fast and imposes no obligations upon you.

Steve Ludwig
President/CEO
Select insurance Group
1-855-GET-SELECT (438-7353)

Get Your Tornado Insurance Settlement Check Fast

With more tornadoes hitting the St. Louis area after last weekend's deadly twisters, that killed 45 and left hundreds of homes damaged and destroyed, it's important to have your ducks in a row to get your tornado insurance claim check issued quickly should disaster strike. After you shake off the daze and dust from the destruction, what do you do to get your cash fast and get on the road to repair and recovery?

1. Take a sigh of relief.
Unlike the well-publicized problems people had making claims after some recent notable hurricanes, for the most part a standard homeowner's policy covers tornadoes as straight-up wind damage. (Unless the tornado pushed water onto/into your home, but that's a different case).

2. Contact your insurer immediately.
Let them know ASAP that you are going to make a claim and give a rough estimate of the damage. Go into as much detail as you can so they know how to prioritize your claim. Different states have different statutes of limitations for making a claim, so don't dawdle.

3. Document document document.
Take photos of all the destruction. Gather up all the receipts you have and inventory the damaged property. Note the item, when you bought it, how much it cost and how much you estimate it would cost to replace it. Call your credit card company for records if you don't have the cost on hand. If you have to stay in a hotel or eat out at restaurants while your house is under repair, keep those receipts as the insurer will reimburse you.

* DID YOU KNOW...
Even spoiled food is eligible for coverage, usually up to $300-$500.

4. Get detailed estimates for repairs.
Contact licensed contractors and get several estimates for permanent repairs. Call me at 1-855-GET-SELECT (438-7353) for a list of licensed repair contractors.

5. Give your insurance agent a detailed description.
Use the info above to help file your claim.

6. Make temporary repairs.
Cover up broken windows, and shore up/cover damaged roofs and walls as needed to prevent further damage.

BEWARE!
Watch out for hustlers preying on those prying themselves out the wreckage. They may try to rush you into overpaying for temporary repairs. In other instances homeowners have been pressured into making big deposits for repairs, only for the "contractor" to disappear and never be heard from again. Don't let panic freak you out of doing your normal due diligence.

7. Wait for the check to arrive.
Claims are usually processed in the order of severity. An obliterated house will take precedent over one that is just missing a few shingles.

8. If your claim seems stuck in nowhere-land, escalate.
Standard Consumerist customer service escalation tactics apply. Be polite and professional but persistent. Write down who you talked to and when. Ask for supervisors. If the delay is inordinate and unwarranted, you always have the executive customer service and EECB routes. For egregious cases, consider filing a complaint with your state's insurance commissioner to get things moving along.

9. Make a donation.
However bad you have it after a disaster, there's always someone else in even greater need. Consider giving money to the Red Cross or another relief charity. Karma has a funny way of coming around.

Call me at 636-410-6219 Ext 1 for questions or suggestions.

Steve Ludwig
President/CEO
Select Insurance Group

Devastation Across St. Louis Area In Wake of Tornado

http://www.fox2now.com/news/ktvi-devastation-across-metro-st-louis-in-wake-of-tornado-20110423,0,2472855.story

The story above is yet another reason why it is so important to make sure you have a quality homeowners insurance company. Select Insurance Group only works with Top-Rated Homeowners Insurance Companies like Safeco, Travelers, The Hartford, and Farmers.

In this era of customers looking strictly at price regardless of coverage and service, it is important to remember how well a company performs when you need it most.

Please call me at 636-410-6219 Ext 1 to discuss your homeowners insurance policy.

Steve Ludwig
President/CEO
Select Insurance Group
Saint Peters, MO

Part Time Business Insurance

Does my part time business need insurance?

A recent survey showed that up to one in ten households operate some type of home based business from their home. Many of these same small, part time business owners have not put some sort of part time business insurance in place. In fact, many of these part time business owners mistakenly think their personal insurance will protect them.

Home based business owners are at risk for serious financial losses in the event of theft, accident, damage or perceived damage to a client, natural disaster, vehicle accident or other types of loss or damage. Most homeowners policies won’t cover business related losses. If you‚ are operating from home, not only can you be risking business property, but personal property which won’t be covered with a business incident.

One possibility is a business rider added to your homeowners policy. If you are writing or just using a phone and computer for your part time business a rider may be all that is needed. However, if you are manufacturing or perhaps doing some type of repair work for a client in your basement, garage or even den, there is a good chance you need more commercial insurance coverage. If you hire an employee, you must have workers compensation insurance.

The risk of not having appropriate coverage is formidable. If you have started a small, part time business, contact a licensed commercial insurance professional. Work with them to determine what insurance is needed. Typically, you need some type of general liability insurance coverage, business property insurance, and if you have employees, workers compensation.

Don’t risk all you have worked for up until now by avoiding or neglecting this important component of being a business owner. As an experienced, licensed insurance professional, I will guide you to what coverage is needed today, and more important, how to protect the future as you grow your business.

Steve Ludwig
President/CEO
Select Insurance Group
Saint Peters, Missouri

Gold’s Price Surge May Mean Your Jewelry Is Under-Insured

Gold prices have skyrocketed over the last decade, which means your jewelry may be under-insured if you haven’t had it appraised recently.

During a recent survey, 428 married women and found that more than half of them either had never had their engagement rings appraised or hadn’t done so in the prior 10 years. That could be a costly oversight if they lose or damage a piece, given that gold now sells for close to $1,500 an ounce, or more than six times the roughly $240 an ounce it brought 10 years ago, says the metals site, kitco.com.

Owners should take their pieces to a reputable jeweler for an updated appraisal, and should check their policies to see what their coverage limit is. He has seen some instances where the existing coverage wasn’t enough to pay for the full replacement cost of a piece of jewelry. So my question to you is: If you got married 20 years ago,is that limit still adequate?

The Insurance Information Institute, an industry group, says a homeowner’s insurance policy typically covers the theft of jewelry up to a set limit — $1,500 is standard — but usually doesn’t cover damage to the item, or loss. You can purchase additional protection at extra cost, by having the item “scheduled,” or itemized, on the policy. The extra coverage, often called a “floater,” also adds protection for damage or loss–including, say, accidentally washing your ring down the kitchen drain.

Scheduling the item on your homeowner’s policy or buying a specialty policy both require that you have the piece evaluated, or appraised. It’s a good idea to have jewelry inspected periodically anyway, to make sure clasps or prongs aren’t damaged, perhaps putting a gem at risk.

Have you recently had your jewelry appraised? Did you need to increase insurance coverage as a result? Call me for a free homeowners insurance consultation at 1-855-GET-SELECT (438-7353)

Steve Ludwig
President/CEO
Select Insurance Group

Quote, Select, and Save by calling 1-855-GET-SELECT (438-7353)

Select Insurance Group™ is a Missouri domiciled Insurance Brokerage agency based out of St. Louis, MO. We handle a full line of insurance products Including Auto Insurance, Homeowners Insurance, Health Insurance, General Liability Insurance, Workers Compensation Insurance, Medical Malpractice, Special Risk Insurance, and More! At Select Insurance Group ™ you have a wide variety of coverages and top-rated companies to choose from, ensuring you are receiving the best policy for your insurance Dollar. SHOP, SELECT, AND SAVE! Call us toll-free at:1-855-GET-SELECT (438-7353)or visit www.selectinsuranceteam.com to start saving today!

Posting your birthday on Facebook could result in Identity Theft

Think twice before posting your birth date on Facebook or other social networking sites. According to Information Week, doing so could help identity thieves predict your Social Security number.

Online information about your date of birth and place of birth could allow identity thieves to guess your Social Security number, according to a Carnegie Mellon report. Its findings suggest that Social Security numbers can be predicted using basic demographic data gleaned from government data sources, commercial databases, voter registration lists, or online social networks.

Knowing a person’s Social Security number (SSN), name, and date of birth is typically enough to allow an identity thief to impersonate that person for the purpose of various kinds of fraud.

Researchers estimate that 10 million American residents publish their birthdays in online profiles, or provide enough information for their birthdays to be guessed.

Were you aware that Travelers Insurance has an Identity Theft Policy? By combining your Home or auto with the Identity theft protection sheild, you are elligible to receive a multi-line discount, which basically saves you enough to pay for the extra coverage. Get your Free Insurance/Identity theft quotes for FREE at www.insuredbysteve.com or by calling me at 314-368-9125. P