Vacant Home or Rental Property

Home and rental property owners might have periods during which their properties are vacant or unoccupied. This may occur for a number of reasons.

Property insurance policyholders need to be aware of coverage limitations that apply during these periods. The first set of limitations states that damage caused by frozen pipes is not covered unless the property owner has maintained heat and drained the plumbing systems before vacating the property.

The second set of limitations applies to vandalism and glass break coverage. Most policies state that vandalism and glass break coverages are suspended if the property has been vacant for the prior 30 days. A property under construction is not considered vacant.

Feel free to contact us to review any important coverage provisions that concern you.

Tips for Winter

The approaching winter gives us the oppportunity to consider cold weather risks and how to minimize them.

Last winter's ice storm caused significant tree-related damage. Tree limbs hanging over structural components should be trimmed back in the fall so that ice-covered limbs fall harmlessly to the ground.

If you have a woodbunring fireplace, the chimney should be cleaned at least every other year. Creosote buildup is a major cause of home fires this time of year.

Many fortunate northerners spend significant time in warmer climates during our winter months. Before leaving your home for any length of time, make sure your water supply is shut off and your pipes are drained. This will prevent damage from frozen and burst pipes even if there is no heat due to a power loss.

Contact out offices with any inquiries you may have.

Coverage for Fine Arts and Collectibles

We are frequently asked about the need to schedule fine arts on a valuable items policy. Inquiries have been made about artwork, antiques, and other collectibles.

Some of this property does not need to be itemized and scheduled separately as long as you are satisfied that your unscheduled personal property limit is adequate for a total loss. This limit is indicated as item C on your homeowners policy and is normally 70-75% of your dwelling limit.

Fragile collectibles such as vases, crystal, and other types of pottery or glassware are not covered for breakage incidents. Items of this nature that have significant value should be scheduled in order to pick up breakage coverage.

Please contact us if you have any questions or concerns about valuable personal property.

Rental Car Agreements

If you regularly rent cars, you know that the rental agent will ask if you want to purchase the "Loss Damage Waiver" (LDW). What should you say?

If you have a personal auto insurance policy for your own vehicle(s), it will extend to cover your use of a rented car. However, there are important limitations that could result in large out-of-pocket expenses. Consider the following:

You may have to pay for any coverage gap. Your auto insurer will pay if you currently carry collision and/or comprehensive on at least one of your vehicles. Even so, your auto policy will cover only the actual cash value of the damaged vehicle. This is the cost to replace it, minus depreciation. Your rental contract likely makes you responsible for paying the cost of the depreciated amount as well as other administrative costs, and these could add up to hundreds or thousands of dollars that your personal auto policy will not pay.

If you do not purchase the LDW and you damage the rental car, you are responsible for paying the rental company's loss of use. At best, your personal auto policy severely limits payment for loss of use to a rented car. Often, such costs are not covered at all.

Contact our offices with any questions you may have.

Coverage for Trees, Plants, and Shrubs

Many homeowners are under the incorrect impression that the insurance coverage on their dwelling extends in a similar fashion to their trees, plants, and shrubs. Unfortunately, homeowner policies limit the amount and types of losses that apply to these items.

The most common problem for trees is wind. This is typically not covered unless a tree is entirely uprooted. Lightning damage is typically covered but only up to $500 per occurrence.

Proper care for trees helps prevent these problems. Few homeowners have their trees thinned by a qualified arborist often enough. This helps lessen the risk of high winds creating an umbrella effect and damaging trees. Sick or dead trees should be removed to prevent injury or damage to nearby structures if they fall.

Contact our office with any questions you may have.

Back-to-School Insurance

Now that the school year is in full swing let's review insurance issues regarding college students.

- A student residing more than 100 miles from home without a car gets a discount on your Auto insurance. Contact us if this is the case.

- Your Homeowners policy generally provides adequate coverage for possessions at your child's college residence - if he or she is still considered a resident of your household.

- A student at school with one of your vehicles should not allow others to drive your car. If necessary, the Named Insured (usually Mom or Dad) must grant permission for this.

- Check your medical insurance to confirm that coverage still extends to your child. Generally, full-time student dependents are covered until age 23.

Contact our office with any questions you may have.

Roof Damage Claims and Repayment

Most homeowner insurance companies have or soon will implement reimbursement limitations on older roofs if damaged by wind or hail. Most companies are starting the actual cash value payments if a roof is over 15 years old.

Generally speaking, if your roof is less than 15 years old we will pay the full replacement cost less your deductible if wind or hail damage warrants the replacement. Actual cash value payments for roofs older than 15 years old result in depreciation deductions from your claim payment.

Hail damage to newer roofs rarely requires replacement of the roof, but does shorten its life span. You have the option of accepting an actual cash value settlement in this situation and waiting until the roof requires replacement before doing so.

Call us with questions regarding how your insurance company handles this.

ATV's, Golf Carts, and Scooters: Insure Them!

Various types of motorized vehicles such as ATV's and motorized scooters have become increasingly popular in recent years for recreational purposes. Homeowner and auto insurance policies typically don't automatically extend liability and physical damage coverages to these items.

Homeowner policies typically don't provide coverage for damage to motorized vehicles not licensed for road use unless they are used to service the insured premises, are used to assist the handicapped, or are a golf cart. Liability coverage may apply to the use of these vehicles only while used on the insured premises.

If you own any motorized vehicles not listed on your personal auto policy we encourage you to call us to discuss their use and the insurance coverages pertaining to them.

Auto Insurance Breaks

Personal Auto Insurance underwriters look at a number of factors when deciding who fits into the low-risk category.

They weigh factors such as a policyholder's driving record and claims history. It helps if an insured's record is spotless. That means no accidents, claims, or citations for moving violations. Insurance companies also look at the driver's age (or in some states, the driver's years of experience) and location of their residence.

How a car is used also impacts pricing. A policyholder who takes public transportation to the office and gets behind the wheel only on the weekends typically gets a lower premium than an insured who drives 40 miles to and from work every day.

There are also other underwriting considerations. We would be delighted to discuss them with you, upon your request.

Renters Protection

The couple stood way back watching with horror as the fire consumed their apartment. The horror was compounded by the fact that they had no insurance coverage -- a common oversight among renters. For some reason, many renters don't purchase the Homeowners insurance designed for renters, maybe because "Homeowners" is misleading.

Except for the actual building, renters have the same exposures as home, townhouse, and condominium owners. Their risks include personal property, injured guests, liability for acts on the premises, and additional living expenses when their unit is rendered unlivable. Those are the basic coverages of a Homeowners policy, and the renter's premiums are much less expensive because the building needs no coverage.

Insurance wont make it easier for the couple as they watch the fire, but it sure will help them face the morning after.

Contact our office with questions about renter's insurance, or any other topic.

College Student Coverage

Another summer has rapidly come and is almost gone, and with fall comes the start of another school year. We'd like to address a few school-related issues that frequently come up in conversations.

A common concern for parents with kids away at college is the coverage of the student’s personal property. Any personal property belonging to the student is covered under your homeowner policy, provided the child is under the age of 24 and is a full-time student.

College students going to a school more than 100 miles from home who do not have a car at school also are provided considerable discounts on an auto policy. Please let us know if this situation applies to you.

For students who do have a car at school, it is important to remind them not to allow their friends to drive their car. In the case of an accident while your son or daughters friend is behind the wheel, coverage may not be granted because the named insured did not give permission to the person driving the vehicle.

We'd be glad to respond further to this or any other area in which you have questions.  Please feel free to contact our office at your convenience.

Teen Drivers and Liability Claims

In 2010, a number of insurance industry trade journals reported that former professional wrestler Hulk Hogan sued his insurance agent for failure to advise him of the availability and cost of personal umbrella liability insurance. This resulted from a serious car accident that his son was involved in for which his auto liability limit of $250,000 was not sufficient for injuries to a passenger.

This potentially important coverage supplements your auto and personal liability insurance with limits available for $1 million to $10 million. The cost of this generally begins at $150 per year.

Policyholders with teenage drivers might be especially vulnerable to the effects of a serious accident. They have higher accident frequencies which might result in a costly liability claim.

Contact our office with questions about this topic or any insurance questions you may have.

Call 614-459-6500 and ask for Dan or Ken.

Which Insurance Claims Should You File?

Most insurance companies use a national database called a CLUE report. CLUE, which stands for Comprehensive Loss Underwriting Exchange, is used by insurers to compute your risk profile.

Frequent claims recorded on your CLUE report can affect your rates with your current insurer or make it more difficult to obtain affordable rates from a new insurer. Some states have passed laws prohibiting insurers from reporting mere inquiries that don't result in a claim payment.

Because of the CLUE database we recommend that all claims be reported to our office first. We may advise you not to file a property or auto claim which barely exceeds your deductible. Liability claims should always be settled by your insurance carrier.

Contact our office with any questions about your risk profile, or any insurance needs.

Call 614-459-6500 and ask for Dan or Ken.

Do You Own Precious Items?

Most of us own jewelry, watches, furs, silver, or other collectibles such as Hummels or art work. Unless we specifically insure them under a schedule, our Homeowners insurance might not be adequate to cover them when they are lost or damaged.

Scheduling these precious items is not expensive. We add them to your policy with a current appraisal or other acceptable valuation.

Also, if you have such items already scheduled but your appraisals are more than three to five years old, they probably need updating badly.

Please contact us to discuss this important facet of your insurance program.

Call our office at 614-459-6500 and ask for Dan or Ken.

Traveling this Summer? Be Prepared!

The summer travel season is upon us. We always receive some common questions regarding personal risk management related to travel.

Typically your homeowner policy provides adequate coverage for your personal property in transit as long as you are comfortable with your deductible amount. Mysterious disappearance isn't always covered, and your unscheduled valuables such as jewelry and watches may not be covered in full.

Your auto insurance policy covers you while operating a car in the U.S., Canada, and territories belonging to the U.S. Usage in Mexico and elsewhere isn't covered. Check with us if necessary regarding coverage application for rental cars regardless of where used.

Finally, trip cancellation insurance is available at a 4% rate to reimburse you for prepaid, nonrefundable expenses lost due to certain events.

Contact our office with any questions you might have. Call 614-459-6500 and ask for Dan or Ken.

Basement Damage Caused by Heavy Rains

Early July's frequent and heavy rains reminded us of the potential problems in basements caused by excessive rain.

Damage resulting from water which backs up through sewers or drains or results from sump pump failure is covered by most homeowner policies up to a $5,000 limit. Higher limits are available and should be considered if you have a finished basement or have valuable furnishings there.

If your basement has a sump pump please remember to test it periodically. Also, during heavy rains when the system kicks on often be sure to check the float. They have a tendency to get stuck in a position which causes the system to fail.

Feel free to contact us with any questions about your homeowner coverage.

Call the office at 614-459-6500 and ask for Dan or Ken.

Central Ohio Residents: Important Water Damage Coverage Information

Central Ohio Residents!!! With the recent heavy and consistent rains we have been getting, you should be checking two important factors when it comes to your home.

1. CHECK THE FLOAT IN YOUR SUMP PUMP
    - If the float gets stuck, your basement may be at risk for water damage.

2. CHECK THE COVERAGE AMOUNT FOR WATER DAMAGE IN YOUR HOMEOWNER     POLICY
    - A standard homeowner policy has a $5,000 coverage limit for basement water damage. If you have a finished basement with high value contents, you may want to raise your coverage limit. It is fairly cheap to raise it from $5,000 to $10,000.

Contact our office for more information. Call 614-459-6500 and ask for Dan or Ken.

Purchasing a Vacation Home? Do Your Homework

Are you considering the purchase of a vacation home or investment property in the Southeast or Gulf coasts? Before making an offer on coastal property, make sure you've done your homework regarding the insurance requirements and costs for such property.

Recent hurricanes and the probability of future events have caused significant problems regarding insurance availability and cost. Many insurance carriers are not writing new policies in these areas, and others have pulled out completely from southeast coastal areas.

Many of those still in business exclude wind-related damage which must be insured through state-subsidized wind insurance pools. These pools are underfunded despite the premiums being charged. The net effect of all this is resulting in exceptionally high property insurance costs in the Carolinas, Georgia and Florida.

Contact our offices if you have any questions about this topic or any insurance needs.

Call 614-459-6500 and ask for Dan.

Do You Work at Home?

Many people have offices in their homes or operate home-based businesses. They need to understand Homeowners policies' exclusions and limitations regarding business property and liability.

Homeowners policies usually exclude Liability coverage for claims resulting from the policyholder's business pursuits -- whether or not you have a business or office in your home. The policies also limit coverage for business property owned by the insured. Limits vary by company but are typically $2,500 at your residence and $500 for business property away form your premises.

Many people use personally owned laptop or tablets in their businesses. Laptops and tablets in cars are an easy target for thieves. Homeowners policies offer optional endorsements to address these issues.

Please contact our office to discuss this matter further.

Call 614-459-6500 and ask for Dan!

Personal Liability Coverage and Household Employees

Many families employ domestic employees to perform household services. Examples include cooks, gardeners, housekeepers, and babysitters.

The Ohio Revised Code requires that workers' compensation coverage be provided in many cases. According to section 4123.01 of the code, "household workers who earn one hundred sixty dollars or more in cash in any calendar quarter from a single employer" are eligible for workers' compensation.

Further, your personal liability coverage from your homeowner policy excludes coverage for injury to any person eligible for workers' compensation benefits.

If you have any questions or concerns about this topic, please contact us or the Ohio Bureau of Workers Compensation at www.ohiobwc.com.

Call our office at 614-459-6500 and ask for Dan!

Slander! Are You Covered?

Homeowner, Condominium, and Renters insurance policies include personal liability coverage for bodily injury and property damage claims against the insured. Common exclusions include auto and business related claims.

Internet usage on websites such as Facebook has resulted in increased liability claims against insureds alleging libel. If you have teenage children who are active online you may be at risk of a personal injury claim resulting from statements they make.

Not all homeowner policies automatically provide coverage for claims alleging libel, slander, or other types of defamation. This fits into Personal Injury coverage which can be added to most homeowner policies if not already included.

We encourage you to contact us to see if your policy includes coverage for Personal Injury claims.

Call our office at 614-459-6500 and ask for Dan!

House Fire Prevention

Residential fires result from many causes. The most common of these are smoking, cooking, and electrical.

You might be surprised to learn that over 10,000 fires per year result from clothes dryers. Some are mechanical in nature or result from overheating of the oils.

Most dryer fires are easily preventable as they result from excessive lint accumulation. Lint screens should be cleaned frequently if not after each usage.

Dryer vents should also be cleaned periodically and possibly replaced. Wire bound vinyl flex pipe should not be used as it can collapse and cause blockages and is also flammable. Flexible metal piping is recommended by most manufacturers and fire safety experts. Also check your outside ventilation to eliminate blockages and lint accumulation.

Contact our office for more information. Call 614-459-6500 and ask for Dan.

Coverage for Your Finished Basement

One of the most popular home renovations currently is a finished basement with home theatre. Such improvements may affect the replacement cost of a home and should be incorporated in the dwelling limit.

More importantly, homeowner policies provide very limited coverage for sewer and drain backups, often as little as $5,000. Basements with extensive finishes and valuable personal property should carry higher limits, which are available for a nominal charge.

It's also important to remember that your homeowner policy does not include flood insurance. This includes damage caused by a rising body of water or any other surface water that may enter your basement. The National Flood Insurance Program provides this coverage which we can facilitate for you if desired.

Contact us with any questions about your homeowner policy.

Call 614-459-6500 and ask for Dan!

Texting While Driving - Ohio's New Laws

Enforcement of Ohio Revised Codes 4511.204 and 4511.205 began on March 1, 2013. These laws are Ohio's texting while driving ban.

The first statutes applies to drivers 18 and over. It states that writing, sending, or reading a text-based communication is a secondary offense, meaning that the driver cannot be stopped due to the sole violation.

For drivers under age 18, Ohio Revised Code 4511.205 prohibits driving while using in any manner an electronic communications device. A violation of this statute is a primary offense, meaning that the driver can be stopped for the sole purpose of such a violation. Fines are $150 for the first violation and $300 for the second. License suspensions are 60 days for the first violation and 1 year for the second.

Contact our office for more information on your auto, home, or business insurance.

Call 614-459-6500 and ask for Dan!

Water Damage Coverage

Recent heavy rains have resulted in disastrous floods in the eastern United States with unfortunate loss of lives and property.

We're compelled to remind you that your homeowner policy does not include damage caused by floods or other rising surface water. You probably have limited coverage on your policy for loss caused by sewer and drain backup or sump pump failure.

Flood insurance can be arranged through the National Flood Insurance Program for homeowners. The rates are relatively reasonable unless you live in a high hazard area which tends to be a low-lying area near a body of water.

We encourage you to contact us to discuss the extent of your current water damage coverage and to address any other concerns you may have.


Call our office at 614-459-6500 and ask for Dan!

Identity Theft: Do You Have Coverage For It?

One of the fastest growing crimes in this country involves identity theft. Social security numbers and other personal information are often stolen for the fraudulent benefit of the wrongdoer.
The victim of such actions can incur significant fees and expenses including new application fees to creditors and attorney fees for claims from creditors. These costs can run into the thousands of dollars.
Many insurance companies have responded to this trend by offering Identity Theft Expense Coverage as an optional endorsement to homeowner's policies. One carrier offers the coverage with a $25,000 per loss limit for $25 per year.

Contact us if you wish to discuss this or any other insurance matter.

Call 614-459-6500 and ask for Dan!

Dan and Billy featured in "People on the Move"

Click the links below to find our own Dan DeLucia and Billy Griffin featured in Columbus Business First's "People on the Move"

Dan - http://www.bizjournals.com/columbus/potmsearch/detail/submission/1657791

Billy - http://www.bizjournals.com/columbus/potmsearch/detail/submission/1657881

Remember to call our office at 614-459-6500 with any questions regarding your personal or commercial insurance.

Prepare Your Property for Spring

Now that our dreary winter is behind us, there's much to look forward to in the coming weeks. As we enter the spring season it's wise to consider that spring weather frequently causes significant storm damage.
Here are some tips to minimize such incidents:
- Garage your cars if a storm is approaching. Hail damage to vehicles can be significant.
- Check your gutters and downspouts for debris. Last autumn's leaves may cause gutters to backup and damage interior walls.
- Keep trees well trimmed and remove dead trees and debris in order to minimize wind damage.
- Test the float on your sump pump to make sure it's functioning properly. If your sump pump needs to be replaced, we recommend one with a backup battery source in case you lose power during a rainstorm.

Contact our office for more information 614-459-6500. Ask for Dan!

The Affect Your Credit Score Has On Your Insurance Premium

There are many variables that determine how insurance companies price home and auto insurance. Homeowner premiums are determined in part by insurable value, construction, location, and claim experience. Auto insurance premiums are largely determined by location, vehicle usage, types of cars, drivers, and driving records.
Within the past decade insurance companies incorporated credit scoring into their rating models as well. Your insurance premiums can now vary widely by the quality of your credit scores.
Some of the credit rating organizations have inaccurate information in their files. We are not privy to that information, but can tell you what your insurance credit score is if you feel that your premiums are adversely affected by your credit score.

Contact our office for more information 614-459-6500. Ask for Dan!

Rental Car Insurance Coverage

The upcoming spring and summer months will result in many families traveling to vacation spots and renting vehicles. It's important to remember where and how your personal auto insurance responds to this.
Your insurance only responds to claims taking place in the United States, its territories or possessions, Puerto Rico, and Canada. Use of a car anywhere else should result in the purchase of all applicable insurance from the rental company.
If you rent a car within the area listed above, your auto policy will generally respond to liability claims resulting from that usage. If your policy includes Comprehensive and Collision coverage on at least one car, that coverage will generally carry over to a rental car.

Contact our office for more information 614-459-6500. Ask for Dan!

Are You Safe From Employee Lawsuits?

Employment Practices liability continues to be a concern to employers. Litigation costs associated with a constantly increasing number of lawsuits can easily set a company back tens of thousands of dollars per claim.
Allegations typically include discrimination, sexual harassment, wrongful discharge, breach of contract, libel, and slander. These claims can come from current, past, or prospective employees.
Fortunately, Employment Practices Liability insurance is available to protect you from such claims. Please contact us if you would like information about this policy's availability, coverage parameters, and cost. It's important to remember that General Liability insurance does not cover these kinds of employment-related lawsuits.

 For more information, call the office and ask for Dan. 614-459-6500.

Lock Up When You Leave

According to the U.S. Department of Justice's Bureau of Justice Statistics, over 2 million burglaries have been reported each year since 2000. It is predicted that one out of every 10 homes will be burglarized this year.
Over 62% of residential burglaries occur during daylight hours. July is the month with the highest number of burglaries. The fewest are reported in February. By region, the South is home to most burglaries, followed by the West, Midwest and Northeast, and the average loss from a residential burglary is $1,607.
While there are several different ways burglars enter homes, one of the most common means of prevention is the most simple: keeping doors locked. A majority of "break-ins" may be better described as "walk-ins"-- burglary opportunities created by property owners who neglect to lock their doors.
Simply keeping doors locked at all times in the first and most important step in burglary prevention.

Contact us for information on insurance that will cover a "break-in".
614-459-6500. Ask for Dan!

Wear and Tear Exclusion, Mechanical Breakdown Exclusion, and the PAP

Wear and Tear Exclusion, Mechanical Breakdown Exclusion, and the PAP

QUESTION:

                While driving along a country road, the insured lost control of his car and ended up in a ditch. There was no immediate damage to the driver or the car, but our insured burned up his transmission while rocking the car from forward to reverse trying to get out of the ditch.

                The insured argued that the proximate cause of the burned-out transmission was the fact that he lost control and landed in the ditch. Thus, he argued that the damaged transmission should be covered under the policy’s collision peril. Is the burned-out transmission a covered loss under the personal auto policy?

ANSWER:

                Two things are wrong with the insured’s argument. First, there is no question as to whether the car actually collided with anything. After all, there was no damage to the car when it landed in the ditch.

                Assuming a collision, a question remains as to whether the collision was the proximate cause of the burned-out transmission. In this case, it is easy to see that the damage to the transmission as not a natural result of colliding with the ditch. When the car came to rest in the ditch, the insured could have chosen to leave it there and call a tow truck. If he had done so, the damage to the transmission would have been avoided. His decision to rock the car caused the damage independently of any collision.

                The next consideration is whether the transmission damage might be covered under the other than collision coverage of the personal auto policy. This covers any physical damage to the auto that is not defined as collision and is not excluded.

                The wear and tear and mechanical breakdown coverage does not apply here because the transmission damage was caused by the insured’s mistake of rocking the car back and forth. It is similar to an insured not changing their oil and driving their car with the old oil in it. It is not gradual wear and tear; it is the insured’s mistake. Not covered.

                Was this loss accidental? Yes. The insured meant to rock the car to get it out of the ditch, not to damage the transmission.

                The insured may recover under the other than collision coverage of the personal auto policy.

Permissive Driver Issue

Permissive Driver Issue

QUESTION:

                We have a situation where a 16-year-old boy was driving his 16-year-old girlfriend’s vehicle with her permission. They were at school and he asked to borrow it to run to the gas station for a soda. She told him that as long as he put gasoline in it, he could. As he was leaving the gas station, he ran a red light and collided with out insured. He was deemed 100% at fault.

                The boyfriend driver has driven that particular vehicle on a few occasions (approximately 4-5 times). When he was driving it one time, the girlfriend’s mother saw him and told him he was not to be driving the vehicle. On another occasion, both the girlfriend’s mother and father told both the kids that the boyfriend was not to be driving the vehicle. This vehicle is exclusively used by the girlfriend, but registered under the parents’ name.

                Again, on this particular day, the girlfriend gave the keys to her boyfriend and told him he could borrow her vehicle. The insurance carrier for the owner of the vehicle (girlfriend’s parents) has denied the claim due to non-permissive users. The insurance carrier for the boyfriend (driver) has also denied the claim to the innocent third party insured citing the same exclusion.

                My question is, since the girlfriend is considered an insured under her father’s policy (family member) and she gave permission to the boyfriend to drive the vehicle, would he have a reasonable belief that he could drive it, even when the girlfriend’s mom and dad told him he was not to drive it?

ANSWER:

Even though the girl gave her boyfriend permission to drive the vehicle, he had been told on two separate occasions by the owners/parents that he was not to drive the vehicle; therefore, he had no reasonable belief that he could drive the vehicle. The owner of the vehicle gets to determine who has permission to drive it, even though the normal user of the vehicle may be someone else. In this situation it’s quite clear that the parents did not want him driving the vehicle. They made that clear on more than one occasion. Therefore, there is no coverage for the loss.

Better Ways to Spend Your Tax Refund

Instead of spending your refund check on "gadgets or getaways", here are four better ways to spend it according to Yahoo!.

Rebalance your portfolio

With the stock market hovering near five-year highs, advisers normally would recommend investors rebalance their portfolios by selling stocks and using the proceeds to buy bonds or whatever assets they need to get back to their target allocations. But some investors might be able to rebalance without selling their stocks — if they use their refund money to build up their exposure in those areas, says Steve Billimack, managing director at the HighTower Chicago Advisory Group. “And it’s a very tax efficient way to do it because they’re not selling anything to rebalance,” says Billimack. (Investors typically need to pay taxes when they sell assets that have risen in value.)

Prepay your bills

Even if you’re not living paycheck to paycheck and could afford to spend your refund on a new iPad without falling behind on your bills, there may be better uses for the cash. Though it’s not nearly as exciting, one can use the money to pay off future bills, says Jon Beyrer, a financial planner in San Diego with Blankinship & Foster. “Why not use this money to put yourself ahead of the game?” says Beyrer. Prepay six months of car insurance bills or car loan payments. Write the phone company a large check, or save the money for the home insurance bill you know is coming up in a few months, he says. But don’t forget to check monthly statements to be sure you aren’t paying for something you didn’t request, experts say.

Make home improvements

“If you’re going to spend it, take a look at your house,” says Mike Blehar, managing director and principal at Fort Pitt Capital Group. “What have you been putting off?” If your furnace is on its last leg, now may be your chance to replace it, he says. Have you wanted to install new windows? Using the money on your home could lift your property value and prevent future damage, advisers say. People who make energy-efficient improvements might also qualify for a residential energy tax credits expiring at the end of this year, says Blehar. To get the maximum credit of $500, taxpayers need to make $5,000 in qualifying improvements to their stoves, heating or air conditioning systems, insulation, roofs, water heaters and windows and doors. Learn more here: http://www.energystar.gov/index.cfm?c=tax_credits.tx_index

Buy a car

If the list of needed car repairs is piling up, some advisers say it might be best to put your check toward a new ride. A $3,000 refund can cover the typical 10% down payment needed on a $30,000 loan for a new car and the 20% down payment needed on a $15,000 used car. It also helps that banks are currently offering record-low rates on car loans, says Greg McBride, a senior analyst at Bankrate.com. The average rate on a five-year loan is hovering near 4% for a 5-year loan on a new car and 4.6% for a 4-year loan on a used car, according to Bankrate.com. And some banks and credit unions will offer rates below 2.5% on both new and used cars, he says. People with existing car loans may also have a greater shot at refinancing to get a lower rate if they use some of their refund cash to reduce the size of their loan, says Beyrer.

Snow Plow Insurance

Here is a little tidbit on what Progressive has to say when it comes to individuals in the snow plowing business and their insurance...

Snow Plow Insurance

If you're in the snow removal business, you rely on your snow plow insurance to provide protection for both your vehicles and business.

Snow plow insurance can include a business owner's policy, Worker's Compensation insurance and commercial truck insurance that provides liability protection against exposure that can result in costly lawsuits.

Who Needs Snow Plow Insurance?

Snow plow insurance is usually required by law or your snow removal contract. if you earn income by providing snow plowing services to either residential or commercial properties. Make sure you're familiar with the local rules and regulations where you work.

Business Owners Insurance

Business Owners Insurance (BOP) could provide various protections for snow plowing businesses including General Liability, and loss of income coverage. 

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