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.