I heard some terrible news today from a friend and it’s just another reminder why insurance, and having the right insurance is so important.
Have you ever tried to buy an auto policy after your carrier already told you your rates are going up because of an accident?
Have you ever tried to buy homeowners or flood insurance when the hurricane is already en route to your house?
Have you ever tried to buy health insurance after you were diagnosed with a life changing illness?
Have you ever tried to buy life insurance after a heart attack or catastrophic diagnosis?
Today I was told by a friend of mine that someone was three days away from the period of time it would take for their life insurance policy to pay out, three days.
Did you know that if you try to buy life insurance when you have cancer sometimes you have to buy a policy with a “graded death benefit?”
That means if you die within what’s usually the first two years, all you get back is your premiums or maybe all the premiums you paid back at 110%.
However if you buy an insurance policy BEFORE something happens, maybe even a convertible term policy while you’re still health you won’t be in that situation.
Convertible term allows you to purchase based on your health TODAY and then in five or ten years (usually when your income has increased or you’ve paid off your debts) you can convert all or a portion of that policy into Whole Life or a more permanent insurance policy.
Want to know more about this?
We can talk about when you have time.
However you don’t want to wait until AFTER you’ve been diagnosed to make a decision, and have to deal with much higher premiums and much more limited options.
Let me help you find peace of mind.
Or answer any questions you may have.
Click the link below to get your own coverage, today.
Have you heard of Umbrella Liability Coverage? Here’s a couple of reasons why you might want to purchase a policy-
There is a large difference between “Having Insurance” and “Being Insured”
In each of these scenarios, a person’s “normal insurance coverage” would have been exhausted and they would have been forced to liquidate bank accounts and other assets to pay for the damages awarded.
5 Actual Claims On A Personal Umbrella Policy
Example Claim # 1: A babysitter left a 5 month old infant unattended in a walker. The infant toppled the walker, struck her head on the floor and suffered brain damage. The parents of the infant sued the teenage babysitter and her parents. The court awarded the infant’s parents $11,000,000.
Example Claim # 2: An insured’s daughter hated math class as well as the teacher. The daughter made several “disparaging” and false remarks about her teacher online. The teacher sued the parents for personal injury and $750,000 was paid.
Example Claim # 3: The insured’s 18 year old son was driving the insured’s car on a short trip to the store with his girlfriend. He lost control of the car and struck a tree. The insured’s son told the police that a vehicle cut him off, but there were no witnesses and no evidence of any impact with another car. His girlfriend, a 19 year old college student, was hospitalized for over a month with multiple fractures and internal injuries. She was in a wheelchair but is now able to walk with crutches and continues with physical therapy. She has a right drop foot as a result of the injuries. The insured’s personal umbrella policy limit of $2,000,000 was paid.
Example Claim # 4: A 28-year old engineer dove into a friend’s above ground swimming pool struck his head on the bottom and, as a result became a quadriplegic. He sued both the homeowner and the pool manufacturer. The court found the homeowner to be 60 percent responsible and the pool manufacturer to be 40 percent responsible, and awarded $10,000,000.
Example Claim # 5: The insured’s tenant claims she became ill from carbon monoxide poisoning resulting from a faulty furnace. The tenant claimed permanent brain damage and demanded $750,000.
It’s storm season here in KC. A couple of things to remember when it comes to roof damage/home claims.
1. It’s still fraud to not pay the deductible on your home.
2. The only way the roofer can make a profit without getting the deductible from you is to inflate the claim amount.
3. Inflated claims means your premiums are going to continue to be inflated each year.
Think about these items if you have a claims scenario. Reach out if you have any questions or if we can help.
#StormDamage #InsuranceTips #HomeownersInsurance #InsuranceKC
|Unoccupied buildings are susceptible to damage especially when Mother Nature sends an unpredictable wave of frigid air across the country.
We usually associate freezing pipes with cold climate states, but temperatures low enough to freeze or damage pipes can happen anywhere in the country. The water damage can be more severe when pipes burst in areas considered to be “warm” because proper precautions and action plans are not in place.
Here are some tips to aid policyholders in protecting their properties:
When small problems go undetected, they become big problems. Business and rental property owners should prepare for events or seasons when buildings may go unoccupied for a planned or unplanned period of time.
For many people, the convenience of buying insurance online from the provider or from an 800 number is appealing; but when a CRISIS hits, it is in YOUR BEST INTEREST to have an agent who is LOCAL, whom you know personally and can serve as a liaison between yourself and the insurance carrier. It is always most beneficial to have your auto-home-life insurance, all with the same company.
At our agency, we know YOU personally, you never have to confirm your name, address, or give a policy number when you call. We take the time to meet and sit down with our clients and to do a review of all their policies. If you talk with an “800 Insurance Company” you’ll never speak to the same person twice and they have no idea who you are as a person and what coverage you need. If there is a serious claim, it’s doubtful that you could ever find the employee of the “800 Insurance Company” to ask them why they sold you the coverage that they did.
In times of trouble, our agency goes to bat for you. We help file the claim, we can speak the adjusters, and help out with any unforeseen situations related to the claim. This is especially important, especially with weather-related incidents where there can be quite a large area off affected clients. We’re here to be an advocate YOU, if something is not being addressed promptly or if there is a communication issue, we’ll help you resolve it quickly and get you back where you belong.
Another great attribute of having Farmers Insurance is that we only work with our own adjusters, meaning the adjuster inspecting the damage is someone who is knowledgeable with Farmers Insurance policies. Many online insurers (as well as independent insurance agencies) use independent adjusters, who may not be as familiar with each insurer’s claims. This can cause larges delays as well as unfavorable outcomes when you have a claim.
For a review of your coverage, give us a call anytime 816-795-5977.
In last month or so, I’ve had 2 vastly difference scenarios with 2 different insurance carriers, both “name brands.” I’ve changed the name to protect the guilty! It’s sad that the scenario happened, but the claims service you receive from your insurance carrier can be vastly different from one carrier to another.
Insurance Company A-Client files a home claim Oct 5. They drag their feet and finally send out an adjuster on Oct 31. However this adjuster is not an employee of Brand A, they are a ‘independent adjuster’ who is not allowed to bring the claim to completion (and submit payment to the insured). They are allowed (by law) to take 10 days to complete the claim after inspection. The took the entire 10 days to process the claim and the check. Claim closed Nov 9
**Process time from claim filing to claim closed—-
**35(THIRTY FIVE DAYS)
Farmers client (my insured). Files home claim Nov 8th. Due to high claims volume from the Liberty hail storms 2 weeks ago, our adjuster (who is a FARMERS employee), works OVERTIME on a SUNDAY. Client gets their check in hand before the adjuster leaves their home on Sunday Nov 13.
**Process time from claim filing to claim closed—-
**5 (FIVE) DAYS.
If you know of someone who has had a claims ‘runaround’ those are great referrals for me. We are proud of our company, offer great service, take care of our clients, and most importantly proud of our claims service. #WeAreFarmers