Holiday Shopping Safety

Personal Insurance and Safety Update

Halloween is over and that means we are in the middle of the holiday season.  During the next 60 days, we will all be busy shopping, eating out, and traveling.  Thieves know that the police are overloaded during the holiday season, and they take full advantage it.  Burglars know that there are many expensive items in homes and cars during the holidays.

Your home or renter’s insurance will provide coverage for theft or loss if you have the coverage. Now would be a good time to call us for a free personal insurance review. Whether you are holiday shopping at the mall, online, or a little of both, keeping yourself and your personal information safe is important.  Here are a few holiday shopping safety tips:

Holiday Shopping Safety

Always be aware of your surroundings.

Lock your shopping bags in your trunk.

Never allow children to make unaccompanied trips to the restroom.

Never leave car doors unlocked or windows open.

Always park in lighted areas. DO NOT park in remote areas.

Shop with a friend.

Teach your child to go to a store clerk and ask for help in case your child is separated from you.

Avoid wearing expensive jewelry.

Keep receipts in your wallet or purse.

Avoid carrying large amounts of cash.

As you return to your car, make sure to keep your car key in your hand.

 

Home Insurance Update

Home Insurance Update

Many homeowners have experienced premium increases. Our agency works very hard to bring our clients the best possible combination of premiums, coverage and service.

What Can We Do To Help?

We are an independent agency.  This allows us to search the market for the best possible combination of premiums, coverage and service. We compare insurance company’s rates and use the competitive market to your advantage. Here are some ways to save on your premiums:

Purchase all your insure through our agency

Ask us about additional discounts

Consider increasing your deductible

Keep your home well maintained

Replace your roof, water heater and other equipment when needed

Review your policy regularly- you may not need the same kind of coverage you did a few years ago

Remember to call our office today. We will work hard for you.

There Is Insurance for (Almost) Everything

 Business Insurance Update

Most business owners buy commercial insurance to cover fire, theft, and certain liability risks.  However, did you know there are many unique insurance products that can also protect your business?  Your business insurance should be able to respond to almost all the activities in which you are involved, but if you are not properly insured, it may not.  Therefore, we thought we would explain several business coverage’s you may not have considered. 

Unique Kinds of Business Insurance 

Political Risk Insurance—The world is becoming a very dangerous place, so there is coverage for business owners and executives who travel to foreign countries.  Kidnap and ransom coverage can protect your executives in case of an unforeseen event.

Giving Advice—Do you or your employees give advice to your customers?  If so, you may need Professional Liability Insurance.

Foreign Liability—If you export products to a foreign county, your business is at risk of a product liability claim if the products cause an injury or loss.

Loss of Value—If you rely on your voice or other talent to produce income, you can buy insurance to cover yourself in the event you are unable to perform.

Environmental—Environmental insurance is there to protect humans and physical assets from the effects of pollution exposure, so you can carry on running your business without worrying about major oil spills or other catastrophic events.

Chicken insurance—Many people insure their pets, but you can also buy coverage to insure your chickens or other animals.

Tax opinion insurance—Acquisitions, reorganizations, mergers, or other changes of ownership can present complicated tax problems.  Tax insurance protects the business in the event the transaction produces a larger than expected tax liability.

What Is the Difference Between Homeowner’s Insurance and a Home Warranty?

Home warranties are offered by many companies, mostly during the selling process. Typically, there are two types of home warranties that people will purchase for their homes.  The first one covers any major systems or repairs for the first year, and the second is an annual renewal type contract which continues to keep the coverage active. See more

Homeowner’s Insurance

This is an insurance policy to protect your home and personal property from damages as result of a fire, wind, storm, or some other act of God or covered activity.

Home Warranty

A home warranty, on the other hand, is optional and typically covers the costs for repair or replacement of the electrical, plumbing and HVAC systems as well as major appliances like the refrigerator or oven.

Home warranty protection usually offers repair or replacement of a specific item for a specific period of time.

Even if you secure a home warranty policy, we recommend that you also have a homeowner’s insurance policy, as there are limitations in home warranty products.  If you have a mortgage, homeowner’s insurance is generally required by your mortgage company.

Personal Umbrella Insurance

You’ve worked hard to earn your lifestyle. Consider adding additional liability protection to your Texas Auto, Home, Renters or Condo policy. Personal Umbrella Liability coverage added to your other policies can protect you, your spouse and any relatives living in your home. Let the staff at Heaton Bennett Insurance show you the value of an umbrella liability policy.

Umbrella Insurance Protection

Umbrella Insurance provides extra protection or limits above the liability insurance you currently have. Just as an umbrella protects you from heavy rain, an umbrella insurance policy protects you from losing the entirety of your wealth and assets in the event of a claim. Umbrella insurance can provide limits above your business insurance, personal auto and home policies.

Umbrella insurance provides broad insurance beyond traditional insurance. It provides additional liability coverage above the limits of your primary insurance policies. It can also provide coverage for claims that may be excluded by the primary policies

It is true that personal umbrella insurance may not be for business or individual, but if you are a business, wanting to protect your company’s resources, building financial resources for your future, are a professional, own your home, boat or recreation vehicle, you should consider an umbrella insurance policy.  Having the added protection of an umbrella insurance policy is coverage no one should go without. Call us today, for a free review.

High Net Worth Individuals

Do you own a boat, second home or have other expensive toys? Often high net worth individuals need higher liability limits to protect personal assets. A simple rule is, the more you own the greater risk you may have of losing it. The nice thing about an umbrella policy is that it is competitively priced. Usually, it costs about $300 per year for each $1,000,000 increment of insurance that you buy, and it can bring you great piece of mind.

2017 Was A Tough Year For Many Insurance Companies

2018 is here, and 2017 is in the rear view mirror.  Last year we saw and experienced many hardships and disasters, but also hand many successes.  We hope 2018 brings you much happiness and success.  2017 was a year in which many entire communities were destroyed by storms and wildfires, 20 million or more people experienced an identity theft, and a number of women come forward describing their sexual harassment.

Here is a list of the top risk issues for 2017

Wildfires in California and Oregon – over $4 billion in damage

Storms in Texas, Florida, and the Northeast

Flooding in Texas, Oregon, and most of the Midwest

Identity theft and cyber breaches

An increase in sexual harassment claims

The continued evolution of driverless vehicles

The regulation of drones

Advances in home technology

Retention of key employees

The ability to attract quality workers

Terrorism

Random shootings

Over the next few months we will try to help you develop a clear plan on how to manage these risks. Please contact our office and we will be happy to help you identify what is important to you and then put together a plan to help you manage you risks most effetely.  Here are just two.

Identity Theft and Cyber Breaches

Identity theft insurance provides reimbursement to victims for the cost of restoring their identity and repairing credit reports.  This type of insurance will help you with certain kinds of expenses to aid you in restoring your credit. Cyber policies cover the liability arising from website media content as well as breach related property losses such as: (a) business interruption, (b) data loss/destruction, (c) computer fraud, (d) funds transfer loss, and (e) cyber extortion.  It can also provide notification and other services for a covered loss.

Harassment Claims

Your business must address this issue head on.  First, you need to secure employment practices liability insurance.  This insurance will offer defense and indemnification coverage should you be involved in an employment litigation.  Second, your business needs to have a clear anti-discrimination policy.  The policy should include reporting procedures and anti-whistleblower provisions.

 

 

Why Review Your Insurance?

 

Our agency is founded and run on the philosophy that client’s needs come first and foremost. We know you hear that a lot, so we wanted to tell you how we carry out our philosophy day to day. This article is the continuation of our series on how to think differently about insurance. Every client deserves an annual insurance review. The review may take different forms depending on the individual circumstances.

Benefits To An Insurance Review

Keeps your program up to date

Provides opportunity for feedback on services

Allows for the partnership to review goals

We take time to review key exclusions and other coverage items

You may need to modify, reduce or add coverage depending on your current situation

The review does not need to take a long time 

Business Insurance Review

A business review is important because risk is constantly changing. Maybe your operations have not changed, but laws and other statutes can impact your risk and need to be addressed. Here are a few examples:

Prices change and a review can determine if you are getting competitive rates on your insurance.

Your coverage needs may have changed and your policy should reflect these changes.

There may be new insurance companies to which we have access.

Laws and regulations are changing and may require a different kind of insurance. 

Personal Insurance Review

A review of your personal insurance can be completed in person, over the phone or even via email. But the important thing is that the client and agent communicate about your personal risk and what has changed. Changes in your personal situation can have an impact on your insurance needs. Examples might include:

Change in marital status

Kids headed off to college

Remodeling of your home

Purchase of expensive jewelry

What Is Trending in Risk Management

Are you concerned about the future?  Is your risk management program designed and prepared for changes in pricing, economic downturns, healthcare, changes in employment laws and upcoming political elections?  A broker or agent who cares about your business will be on the forefront of change.  Part of providing outstanding customer service is helping clients understand how current and future trends may affect their risk program.

Every so often, we think it is a good idea to talk about what may be happening regarding insurance and risk management.  We review many different insurance publications, insurance company bulletins, and other professional’s opinions, to analyze these trends.  This allows customers to make educated and informed decisions about their individual programs.

What Is Going on That May Impact Your Risk Program

Increased reliance on technology will lead to better-run insurers and stable premiums. The development of advanced loss control analytic tools will revitalize insurers focus on claim reduction, and potentially lead to increased investments in loss control.  Insurers are using business intelligence to leverage “big data” to help them estimate claims, assets, credit and market data, and gain deeper insights across networks of producers, policyholders, and operations.

Mobile applications are one of the fastest growing areas of insurance. Businesses are able to manage risk programs through technology.

Cyber liability will continue to be a major area of concern for all businesses. The government will continue to require businesses to protect customer’s information. Those businesses that do not will be subject to increased fines.

Most insurance companies are moving toward using data to develop commercial insurance premiums. This means your business will need to rely more on your agent. Your agent will be able to help you navigate through the complex maze of insurance program design, marketing, and placement.

Five Reasons an Independent Agent Is Better Than Online Insurance

A Personal Insurance Update

Buying insurance for your home, auto, or business is one of the most important decisions you can make.  Just ask the people of Houston, Texas.  Currently, independent agents are on the ground helping their clients finalize their claims so they can get back to their daily lives.

We understand what is important to consumers when it comes to securing insurance. These are the things people feel are important when it comes to purchasing insurance: *

Cost

Ease of obtaining coverage

Speed of obtaining coverage

Peace of mind that everything is covered

Security of personal data

*Source: Adam Bishop

Here is how we help you with each of these

Cost – Independent agents have access to more markets and have better relationships with insurers, thus affording better pricing options for you.

Ease of obtaining coverage—We actually do all the legwork for you. You will not be routed to a call center, placed on hold, and then talk to someone who may not even be licensed.

Speed – It is easy to call or meet with us. We live in your community.

Peace of mind – We make sure that you are covered for what you need to be covered for.

Security – We make sure all your personal information is secure.

See full article

Home Insurance Update

Many homeowners have experienced premium increases. Our agency works very hard to bring our clients the best possible combination of premiums, coverage, and service.  Homeowners insurance plays an important role in society. It protects your most important financial asset, your home. Remember, each homeowner’s insurance policy is different, and if you bought your homeowners insurance online, you may not have proper coverage.

What Can We Do to Help?

We have the benefit of being an independent agency.  This allows us to search the market for the best possible combination of premiums, coverage and service. We compare insurance companies’ rates and use the competitive market to your advantage.  Here are some ways to save on your premiums:

Purchase all your insurance through our agency.

Ask us about additional discounts.

Consider increasing your deductible.

Keep your home well maintained.

Replace your roof, water heater, and other equipment when needed.

Review your policy regularly. You may not need the same kind of coverage you did a few years ago.

Remember to call our office today.  We will work hard for you.