Risking Injuries Just Isn't Worth It

     Have you ever thought a personal umbrella policy might not be worth the extra out-of-pocket expense because you already have liability protection under your homeowners and auto insurance policies? Umbrella policies typically provide at least $1,000,000 in additional liability protection. Consider the following bases on which sizable damages may be awarded in personal liability cases:

• Loss of Earning Capacity. This is more than just the amount of lost wages. It also includes any loss or impairment of the ability to work in the future.
  
• Pain and Suffering. A dollar value may be placed on the pain caused by injuries and also the pain that results from medical treatment.
  
• Permanent and Future Pain and Suffering. Once medical treatment has gone as far as possible, there may be permanent pain or disfigurement that the injured person must learn to live with.
  
• Disfigurement. A body limb may be lost or there may be scarring as a result of the injury or treatment.
  
• Loss of Function. A value may be placed on the loss of the use of certain body parts or functions.
  
• Loss of Enjoyment of Life. Values can be placed on the temporary or permanent changes that must be made in one's lifestyle. Perhaps a world-class, or even a weekend, athlete can no longer enjoy a favorite activity after the accident.
  
• Embarrassment and Humiliation. This can be a very real component of damages and so must be given due consideration.
  
• Medical Expenses. All actual costs from the time of the injury can be assessed, along with anticipated future costs.
  

     Though you must be found at fault before any liability can be imposed upon you for any accident, once that threshold is crossed, you may quickly learn the true cost of not having a personal umbrella policy. Upon further reflection, you may find that paying those premiums may very well "pay off" for you just when you need it.

The "411" on
Cell Phone Coverage

      Many people today would be lost without cellular phones in their cars. Unfortunately, accidents do happen. If your car is wrecked or stolen, so is your cell phone. Your damaged or missing cell phone is not generally covered under your auto insurance policy. Special insurance coverage, however, can protect you from such a loss.

     Most auto policies exclude any equipment designed for the reproduction or transmission of sound unless it comes from the manufacturer already installed. This may exclude your cell phone. To cover your phone in case of theft or damage, you can purchase a special endorsement or a "floater" policy designed to cover such equipment. The endorsement is designed to cover sound-transmitting equipment that you purchase separately from the car and have installed.

     Your cellular phone may be small in size, but it plays a much bigger role in making your daily life easier. Something this important to your daily life needs to be protected.

Simple Steps to Trim Auto Insurance

      Would you like to reduce the high cost of insuring your vehicle? It may be simpler than you think. Here are some tips that can help you save money on your auto insurance:

• Raise your deductibles. One easy way to reduce insurance premiums is to increase your deductibles. Higher deductibles mean you assume more of the risk for small claims. However, be sure to set deductibles at limits you can comfortably afford, since you will have to pay for them out-of-pocket if an accident occurs.
  
• Drive defensively. To keep costs down, keep your car in good working order, always drive with care, and remember to buckle up. Traffic violations and accidents can raise your premiums.
  
• Buy a low-profile car. Driving a low-profile vehicle can reward you with lower rates. It costs less to insure autos that have a smaller chance of being stolen and are less expensive to repair. A higher safety rating may also reduce your premiums.
  
• Reduce insurance on older cars. As your car ages, you may not need as much insurance as when it was new.
  
• Inquire about discounts. Many insurers offer policy discounts for a variety of reasons. For instance, some companies offer a multi-policy discount if they insure both your house and your car.
  
• Update your policy, as necessary. Changing circumstances, such as moving, getting married, or removing a young driver from your policy, may make you eligible for lower rates.
  

     Rising costs for auto repairs, medical expenses, theft claims, and injury lawsuits may drive up your insurance premiums. However, by following the above tips, you can help keep your costs to a minimum and ensure a "smooth ride."

Renting: Rest "Insured" at Night

      Predicting when a fire, natural disaster, or burglary will occur is nearly impossible. Fortunately, protecting your personal belongings from disaster isn't. If you are a renter, you should be aware that your landlord's insurance does not cover your personal possessions. Purchasing renters insurance is an inexpensive way for you to protect all the things that belong to you.

     Renters insurance is similar to homeowners insurance, minus the property coverage. The policy protects you against losses due to theft, fire, smoke, lightning, windstorms, vandalism, explosions, etc. Typical exclusions are mudslides, earthquakes, and floods. You can purchase these excluded coverages separately, should you ever need them.

What is Covered?

     Personal Property. Such property consists of your clothing, jewelry, furniture, electronic equipment, appliances, bicycles, and any other items you bring into the apartment. Be aware that most policies have a coverage limit on particular items (e.g., jewelry or computers), and that additional coverage may be available if you so need.

     Personal Effects. This coverage is similar to that of personal property, but it provides protection for your belongings when they are carried away from the apartment. For example, it would cover you if your dry cleaning was stolen from your car or if your luggage was stolen at an airport.

     Loss of Use. If severe damage to your apartment prevents you from living in it, renters insurance will generally cover hotel, food, and other related expenses until repairs to your apartment have been completed, and you're able to move back in.

     Personal Injury. If someone is injured while visiting your apartment, renters insurance covers your liability.

     Renters insurance is an important security measure that shouldn't be ignored. Many tenants either don't know about renters insurance or don't think about it until after a disaster occurs. If you are a renter, please call us for more information. We can help you find the coverage most appropriate for you.