Do you or your teenager earn a little extra spending money using your car - maybe delivering pizzas or other products? Many people don't realize that their Personal Auto policy won't cover vehicles when they're used to earn money, including making deliveries.
Be sure to check with your agent or broker to see whether you need a Commercial Auto policy to get the protection you need.
call me at 1-855-GET-SELECT (438-7353) for your FREE auto insurance consultation.
Steve Ludwig
Select Insurance Group
President/CEO
http://www.selectinsuranceteam.com/selectinsuranceblog.html
Showing posts with label saint charles insurance. Show all posts
Showing posts with label saint charles insurance. Show all posts
Thursday, April 21, 2011
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
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
Tuesday, April 12, 2011
Marriage+Car Insurance=Lower Rates !
In this day and age, every single penny matters and whenever you are getting married and you are looking to gain some discounts on your car insurance, you have to know some of the steps and some of the guidelines. Your age is one of those guidelines – if you are under 25, you most likely will get a discount on your car insurance if you get married.
The reason for this is because the insurance companies believe that if you are married, you will be less likely to be a reckless driver. While you might not be ready to get married when you are under 25 years of age, just remember that there are big discounts in there on car insurance.
Let’s say that you do get married and you are under the age of 25 but both you and your spouse have a really bad driving record. Well, that is something that can definitely hinder a lot of the discounts that you can get as your driving record does follow you around.
However, if you have a bad driving record and your spouse has a good one, you can definitely get on their insurance as a secondary driver and that – alone will let have all sorts of discounts and will certainly ensure that you are saving a ton of money.
Finally, you want to make sure that you are working with a broker as well, that way you can ensure that you are getting the best deal out there and not being stuck filling the quotas for your good-neighbor captive agent!
Call me at 1-855-GET-SELECT (438-7353) for more money-saving tips!
The reason for this is because the insurance companies believe that if you are married, you will be less likely to be a reckless driver. While you might not be ready to get married when you are under 25 years of age, just remember that there are big discounts in there on car insurance.
Let’s say that you do get married and you are under the age of 25 but both you and your spouse have a really bad driving record. Well, that is something that can definitely hinder a lot of the discounts that you can get as your driving record does follow you around.
However, if you have a bad driving record and your spouse has a good one, you can definitely get on their insurance as a secondary driver and that – alone will let have all sorts of discounts and will certainly ensure that you are saving a ton of money.
Finally, you want to make sure that you are working with a broker as well, that way you can ensure that you are getting the best deal out there and not being stuck filling the quotas for your good-neighbor captive agent!
Call me at 1-855-GET-SELECT (438-7353) for more money-saving tips!
Boat Owners Insurance 101
With summer fast approaching, people are gearing up for another great boating season. Boats are coming out of storage, fresh coats of paint are being added, and equipment is being replaced. One aspect of boat ownership that should not be neglected is boat owners insurance. Too many times, people don’t have the right amount of coverage and are left paying more than they would otherwise have to when something happens to their boat.
Your boat is a significant investment and therefore, you’ll want to protect it with the boat owners insurance that is right for you. Insurance for boats comes in many different options and when purchasing coverage, or renewing your current coverage, you should think about what is important to you. With the help of your insurance provider, you can make the right decision and find a policy that is affordable and comprehensive. Some coverages that you may want to look into include the following:
• Total Loss Replacement
Replaces total losses with the latest model (new-for-old) or, if not available, a comparable model. Available on new personal watercraft purchased within the preceding 13 months. Once the coverage is purchased, it can remain in place through the 10th model year. For personal watercraft 5 model years old or less at the time of a total loss, the insurance company will replace the personal watercraft with the latest model, or if not available, a comparable model. For personal watercraft older than 5 model years at the time of a total loss, the insurance company will pay the purchase price.
• Uninsured Personal Watercraft Coverage
Uninsured Personal Watercraft Bodily Injury Coverage pays for medical treatment, wage loss, and other damages sustained as a result of a personal watercraft accident where the liable boater does not have liability coverage.
• Actual Cash Value
The Actual Cash Value option is the most economical choice when it comes to insuring a personal watercraft. The Actual Cash Value is determined by the market value, age and condition of the personal watercraft at the time of the loss.
• Disappearing Deductibles
This coverage is included at no extra charge along with Total Loss Replacement and Agreed Value. Disappearing Deductibles provides a reduction of 25% in Comprehensive and Collision deductibles for each claim-free renewal period. When the fourth consecutive claim-free renewal period is reached, your deductible diminishes to $0. If a Comprehensive or Collision claim is paid, deductibles are reset to the selected level
• On-Water Towing and Labor
Pays for towing and labor costs on a reimbursement basis up to $1,000 per occurrence. You choose from the three available limit options: $300, $500 or $1,000. The labor coverage applies when it is performed at the time and place of disablement, while the personal watercraft is in the water.
• Agreed Value Coverage
In the event of a total loss, our expanded Agreed Value guarantee pays you the amount originally spent for the watercraft or the appraised value, with no deduction for depreciation and no deductible.
Each of these will meet a specific need and should be explored fully with your insurance provider. For detailed information go to www.selectinsuranceteam.com or contact one of our qualified representatives at 1-855-GET-SELECT (438-7353) for more information.
Your boat is a significant investment and therefore, you’ll want to protect it with the boat owners insurance that is right for you. Insurance for boats comes in many different options and when purchasing coverage, or renewing your current coverage, you should think about what is important to you. With the help of your insurance provider, you can make the right decision and find a policy that is affordable and comprehensive. Some coverages that you may want to look into include the following:
• Total Loss Replacement
Replaces total losses with the latest model (new-for-old) or, if not available, a comparable model. Available on new personal watercraft purchased within the preceding 13 months. Once the coverage is purchased, it can remain in place through the 10th model year. For personal watercraft 5 model years old or less at the time of a total loss, the insurance company will replace the personal watercraft with the latest model, or if not available, a comparable model. For personal watercraft older than 5 model years at the time of a total loss, the insurance company will pay the purchase price.
• Uninsured Personal Watercraft Coverage
Uninsured Personal Watercraft Bodily Injury Coverage pays for medical treatment, wage loss, and other damages sustained as a result of a personal watercraft accident where the liable boater does not have liability coverage.
• Actual Cash Value
The Actual Cash Value option is the most economical choice when it comes to insuring a personal watercraft. The Actual Cash Value is determined by the market value, age and condition of the personal watercraft at the time of the loss.
• Disappearing Deductibles
This coverage is included at no extra charge along with Total Loss Replacement and Agreed Value. Disappearing Deductibles provides a reduction of 25% in Comprehensive and Collision deductibles for each claim-free renewal period. When the fourth consecutive claim-free renewal period is reached, your deductible diminishes to $0. If a Comprehensive or Collision claim is paid, deductibles are reset to the selected level
• On-Water Towing and Labor
Pays for towing and labor costs on a reimbursement basis up to $1,000 per occurrence. You choose from the three available limit options: $300, $500 or $1,000. The labor coverage applies when it is performed at the time and place of disablement, while the personal watercraft is in the water.
• Agreed Value Coverage
In the event of a total loss, our expanded Agreed Value guarantee pays you the amount originally spent for the watercraft or the appraised value, with no deduction for depreciation and no deductible.
Each of these will meet a specific need and should be explored fully with your insurance provider. For detailed information go to www.selectinsuranceteam.com or contact one of our qualified representatives at 1-855-GET-SELECT (438-7353) for more information.
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