One of my co-workers recently had a hit-and-run accident, in which the other driver pulled over briefly, saw the severity of the situation, and took off again. With no information about the other driver, my co-worker had to file the claim against her auto policy and pay her deductible.
The situation raised a question in the office that ultimately prompted several of us to purchase dashcams: “What can be done to protect ourselves against a hit and run driver?” While there is no perfect solution, a high-resolution dashcam is a great start.
The idea is simple enough to comprehend – with a high resolution video recording being created while you drive, all those crazy near-misses you experience while driving are recorded in great detail… and should you have an accident, most of the cameras include sensors that automatically lock the data for a length of time before and after impact is detected to prevent the video from being deleted.
But will a dashcam help? The answer is, unfortunately… it depends. It mainly depends on two factors – what happened, and how much information the camera captured.
Though most cameras provide high resolution and wide angle videos, they still only capture what happens in front of you – not much help if you get hit from the side or the back. While there are models that also include a rear-facing camera, that still leaves the sides of the vehicle unmonitored.
And, of course, the most important piece of the puzzle is whether or not the license plate of the offending vehicle is legible. That’s were the cost of the equipment can skyrocket quickly – not just in the camera, but also in the quality of memory card needed. For a high quality front and back camera with ultra-fast memory card, you could be looking at more than $200 … and if you have more than one vehicle that’s used regularly in your household, that cost goes up exponentially!
Ultimately, the choice to purchase and use a dashcam is very similar to choices you have to make while purchasing your insurance coverage: do you spend money up front to seriously reduce your financial risk down the road? Will the investment now protect you from headaches later? Unfortunately, it’s impossible to answer these questions with certainty, so it depends on your own tolerance for risk (vs spending more to pass that risk on).
1 – Turn off your water supply at the main valve into the house before leaving for vacation.
2 – Always use metal water supply lines for all fixtures, especially heavy water users like your dishwasher or wash machine – plastic lines corrode far too quickly and can be pinched or severed accidentally. You can either use actual copper lines, or the metal-coated flex lines.
3 – Have your sump pump tested annually, preferably before the spring rainy season arrives. If you don’t know how to do it, contact a local plumber to assist you.
4 – Check your foundation walls for cracks every six months, especially looking for cracks that run across the face of the blocks. Cracks that follow the mortar/joints between blocks could be a sign of ordinary settling, whereas cracks across the blocks themselves could be an indication of pressure or other damage that should be closely monitored. If you do see a crack developing, cover it with a small amount of caulk, joint compound or spackle, and check every few weeks to see how quickly the crack is spreading. If it’s spreading quickly, or if it’s more than 1/4″ wide, contact a licensed foundation repair contractor immediately.
5 – Trim trees annually, especially those near the house. Make sure to remove all dead branches, and to “balance” the tree as much as possible so it’s not producing branches primarily on one side of the tree. Similarly, trim back all shrubs and other landscaping so it is at least a foot from the exterior walls of the house to prevent infestation by ants, termites, and other insects.
6 – Place splash pans or catch basins under your washer and hot water heater to catch leaks. Make sure the pan drains to a nearby floor drain.
7 – Inspect your foundation walls annually for termite tunnels (which often look like small mud tunnels on the block).
8 – Add long down spout extensions to the end of your gutters to direct rain water away from the foundation of the house – a one inch rain fall drops approximately 650 gallons of water on an average roof!
9 – Install surge protectors on all of your electronics and, when possible, appliances.
10 – Test the batteries in all smoke detectors at least once per year, and keep at least one ABC rated fire extinguisher on each floor of the house and an additional ABC fire extinguisher in the kitchen. Replace them as indicated, or after any use.
Bonus tip – be sure to have your furnace/boiler cleaned and inspected on an annual basis before cold weather hits – preferably in the summer so if something comes up, you are not paying “emergency” or “rush” fees to your repairman!
exclude these types of endeavors Many of us already know that our insurance needs change as our living situations change. This can be changing from a tenant policy to a homeowner policy when you buy your first home, or increasing the amount of coverage as you add onto or renovate your home, or even writing a new policy when you move into a nicer home. What most people do not know is how much renting your property to others can change your insurance needs.
First things first, we need to understand what renting property means in terms of insurance. Renting out your home or property is considered a business pursuit. Homeowner or tenant policies are intended for owner/renter occupied dwellings, and frequently exclude these types of endeavors – even if it’s only done on a short-term basis like AirBNB. Many people do not know this when they begin to rent out their homes. This means that unless a property owner does their research, they are likely to have a gap in their insurance coverage when they rent out their property.
Don’t worry; there are options to fix this gap. This solution is typically as simple as getting a Landlord Policy for longer term rental situations. When renting your home on a shorter term basis like AirBNB or HomeAway, however, the solution is not as simple.
Many insurance companies are not yet willing to provide coverage for these types of situations, taking a conservative approach in order to see how the various potential legal pitfalls will play out. A few insurance companies, such as Erie Insurance, have taken a more proactive approach by offering this coverage to their clients.
Ultimately, your best option is to contact your agent (or us!) to find out if your particular life-changes require any sort of additions or alterations to your insurance coverages. And don’t forget to ask about Life Insurance!
Pokémon GO is a fun new app that is taking people’s phones by storm. The app has not been out very long, but the number of average daily users is close to that of Twitter. This app has even caused some big changes in the stock market, causing Nintendo’s overall worth to grow almost 8 billion in just a week’s time. All of this excitement about the game has helped to give people even more of a reason to go “catch em all.”
Many people have already started their journey to become a Pokémon master. This adventure begins with users wandering the real world with their phone in hand to hunt down all the Pokémon they can find. As a result, many users have been paying more attention to their phone than their surroundings. This of course has resulted in some Pokémon masters getting injured with scrapes, cuts, and even sprained ankles. Some players are even falling into creeks and holes. It may make you wonder, “How long until someone really gets hurt?” The answer to that question is soon.
Recent reports and tweets suggest that a number of users have been playing Pokémon GO on the go. Driving and playing Pokémon GO is very dangerous. The Tennessee Highway Safety Office (along with many others) has already made a Public Service Announcement:
Along with this there are already reports of accidents occurring due to one or more drivers being on the hunt for Pokémon while they should be looking at the road. Texas A&M Police recently reported an incident where a driver got into an accident, because another driver illegally parked and left the car to catch a Pokémon.
Even though Pokémon GO may be a childhood dream come true for many, we all need to put down our phones and pay attention to the road while driving. Save a life and your Poké Balls until you are safely stopped and out of your car.
Everyone loves to eat out, which in recent years has led to the development of many new restaurants. This can include a wide variety of types of service, from a food truck to a place of fine dining. As the restaurant industry grows, so do the needs of those involved in the industry – especially their needs for appropriate insurance to protect themselves.
The food industry has reported both job creation and revenue growth over the course of the last six years. This includes a 3.8% revenue increase, and over 14 million people currently employed in the industry. While it is great that the food industry is doing so well, what does this have to do with insurance? It means that there is a growing market of business owners that need specialized coverage based on their risks.
For example, if you own a food truck, it’s likely that if you had a fire or other devastating loss it will take you some time to find or build a replacement vehicle. While this is taking place, do you have coverage to replace the income you’re losing? How will you pay your bills?
If you own a more traditional restaurant, do you have coverage for a power outage? What about a power outage due to power lines downed in a storm? What if your food spoils while the power is out – is your inventory covered for spoilage? Similarly, if you have a refrigerant/contamination issue – do you have coverage?
The special types of coverage that are listed are just a few of many that agents and restaurant owners alike need to be aware of to help both industries grow and flourish. Feel free to call or email with questions or concerns you might have!
Long time no post! This El Nino winter has been a strange one here in Pittsburgh. The on-again off-again wintery weather has kept us busy. The Insurance Dogger loves the snow, so this winter has been an emotional roller coaster to be sure!
A month into winter and we’ve received an unusual array of claims for this time of year – of course we are seeing the normal frozen pipes, chipped windshields (salt wreaks havoc on your glass!), and sliding on ice. But we are also seeing some unusual-for-winter claims as well – in particular, sewage backing up in basements, which is far more common in spring & early summer. The heavy snowfall, followed by rapidly rising temps and even occasional rain showers has simply been too much for many sewage systems to handle.
All of this has gotten us to thinking, in light of some of the conversations we’ve had to have with clients, it’s time to do a brief update & post on choosing your insurance coverage – both home and auto.
I can’t tell you how many times a client has told us they want to insure their cars or home “as cheaply as possible.” Though this is a thought process we work very hard to counter, it’s not always feasible to adjust this mindset. When you’ve had a claim is NOT when you want to find out that if you spent a couple extra dollars per month, you would have saved yourself a lot of heartache.
Once you’ve had a claim, you cannot backdate a change to your policy to provide you with the coverage you need – even if you offer to pay for the additional premium.
Here are a few coverage options to consider having on your policy to avoid stress & financial difficulty:
Comprehensive physical damage – do not confusion this with collision coverage, or “full” coverage. As explained previously here on the Dog Blog, comprehensive coverage (in Pennsylvania) protects against things like glass damage, hail damage, fire, theft, flooding, or hitting a deer. Even if you remove Collision coverage from your vehicle, we always recommend retaining Comprehensive on your policy, as it is a cheap way to provide protection against a number of different claims.
Rental Reimbursement & Towing and Labor – Again, previously explained on the Dog Blog, these two extremely inexpensive coverages will save you A LOT of stress in the event of a covered claim. Towing & Labor, which provides similar benefits as AAA membership for a fraction of the cost, is a particularly useful during the winter months. It provides everything from jumping a dead battery to pulling your car out of a ditch after sliding on black ice. Rental reimbursement pays you back for the use of a rental car (with policy-specific limits – ask your agent) in the event that a covered claim puts your car in the shop for an extended period of time.
Increased Property Damage liability limit – Did you slide on slushy roads and rear-end that brand new Mercedes driving in front of you? We recommend all clients carry AT LEAST $50,000 of Property Damage liability coverage, if not $100,000 or more. Sleep peacefully knowing that you have the protection you need if you damage an expensive car (or cars!) or home.
Sewer & Drain back up – Put simply, S&D B/U (as I call it) protects you in the event that sewage backs up through your floor drains or water overflows from your sump pump. The coverage is available on both owners and renters policies. Though this is more common in spring & summer – add it now to ensure A) you don’t get any nasty surprises during this unusual weather season and B) you don’t forget to add it before the spring rains start.
Preventing pipes from freezing – though not a specific coverage, preventing your pipes from freezing in winter is crucial to preventing an unforeseen catastrophe – especially if your power goes out! Some useful links with more in depth information were provided last winter, but there are several easy things you can do to prevent your pipes from freezing during cold snaps. If you know you are not going to be home for 24 hours or more, ALWAYS shut your water off at the main. This prevents water from flowing continuously from a burst pipe. If you have pipes closed up within a cabinet (like your kitchen sink), open the cabinet from time to time to warm things up – and leave the doors open during especially cold times (when temps drop below zero Fahrenheit). If your power goes out during a storm or a cold snap, turn all faucets on exterior walls on to a slight drip to ensure the pipes don’t freeze.
Identity Theft – OK OK, identity theft has nothing to do with winter weather, but especially during the Christmas shopping season, it bears repeating that the $20-30 per year that you spend on identity theft is money extremely well spent. In 2014 alone, nearly 10% of all Americans were a victim of identity theft. If that’s not enough to motivate you, consider that nearly 15% of identity theft victims suffered a direct financial loss of at least $1,000. At $20 per year, it would take 50 years to make up the difference with premium savings to cover a $1,000 loss!
To summarize – a few simple and inexpensive steps now can prevent a great deal of stress down the road! Contact your agent to discuss any questions or concerns you might have.
For those in Western PA, motorcycle season is very nearly upon us, and if you’re like me, that’s an exciting and gratifying thing indeed. Four to five very long months of waiting can get rough on us all.
One thing that tends to sit on the backburner is the motorcycle insurance renewal that almost always also comes through at this time. As such, now is as good a time as any to give a quick run-down on motorcycle coverage and things to consider.
Some of the coverages on a motorcycle policy will mirror those on your auto policy – bodily injury and property damage liability are good examples. Liability coverage pays for the medical expenses and damages others suffer, for which you are responsible (in an accident).
Uninsured & underinsured medical provides coverage for you and your passenger’s medical expenses in the event of an accident where someone else is at fault and either doesn’t have sufficient coverage, or any insurance at all, to pay for your bills. And, of course, you can buy physical damage coverage on your motorcycle itself if it’s stolen or damaged.
Beyond that, though, is where the differences start to appear. For example, many first party benefits coverages either are unavailable or very expensive to obtain. These coverages provide protection for you in the event that you are injured in an at-fault accident for things like medical bills, lost income, or funeral expenses.
Roadside assistance and/or trip interruption can function differently on a motorcycle policy – depending on the company you go to, you can get coverage for a flatbed tow (not typically available on regular auto policies) or other motorcycle-specific services. On occasion, you can even get coverage for unexpected expenses resulting from an accident or breakdown – such as the cost of staying in a hotel.
There is also more readily available coverage for accessories and “carried” contents on your bike. Several insurance companies provide a small amount of accessory coverage automatically when you buy physical damage coverage on your bike.
If you have done a great deal of modification, have an antique or custom bike, make sure to go over the best way to properly insure your baby – otherwise, you might be in a position where you have to cover most of the cost of those same mods out of pocket in the event of a claim.
One final thing to consider – keep your safety courses up to date (within the past three years). This will you provide you with a moderate to major discount on your coverage, and is a great refresher for those safety skills you learned years ago. For Pennsylvania riders, head to the PA MSF website to find and schedule a class.
Shameless plug– as a licensed rider & Harley owner who is registered to provide motorcycle coverage through multiple insurance companies (like Rider, Progressive, AIC, and more!), I am excited to work with you to provide competitive quotes. We can re-evaluate your coverage, and potentially get you better coverage for less money. Do business with someone who knows and understands the passion and dangers involved so you can ride with peace of mind. The quoting process takes approximately 15-20 minutes. Please complete the following form, and I will get in touch with you soon to begin the process.
Good afternoon! Seeing as how the Pittsburgh area is forecast to experience record low temperatures tomorrow & Friday, I thought I would put together a short blog with links for useful tips to prevent damage to your home and to keep yourself & your pets from getting injured.
As you may have noticed, there is a lot of news coming out lately about driverless cars – Google is one of the main players in the field, but Carnegie Mellon University made a big splash locally and nationally when it unveiled a very successful test-drive in the Cranberry area nearly two years ago. A lot has been written in the last couple years about the various pros & cons of driverless cars, so I won’t rehash them here – a simple Google search will reveal just about anything you’ve ever wanted to know about the future of driverless vehicles.
However, as an insurance agent, one of the first things that comes to mind whenever the topic comes up is, how will the insurance policy, and the liability coverage in particular, function when it comes to insuring driverless vehicles? This is not an easy question to answer, as there are many facets to consider, and much of it is based on speculation because the technology has not put forth a viable “ready for the public” option yet.
There are several legal considerations that, for the most part, I will set aside for now – primarily for the sake of expediency. One of the big issues at hand is that, generally, each state has autonomy over how insurance laws & coverages are mandated. I will address issues as broadly as possible, but the situation is still largely theoretical and developing as the technology progresses.
From an insurance standpoint, one of the largest liability concerns is the question of who is at fault (“liable”) when a driverless car is involved in an accident – is it the “driver” of the vehicle? The engineering firm that put together the software operating the vehicle? The manufacturer of the vehicle? All of the above? This is not an easy question to address, and seems to generate more questions than answers. Was there an error in the software? Was the driver able to manually override the vehicle and didn’t? Did the steering system or brakes fail to receive or comprehend the instructions the software passed along? Some of these questions will sort themselves out as the technology becomes more “concrete” and less speculative. But the truth is, I fear, legal liability concerns will not actually be resolved until after the rubber hits the road and accidents occur.
Another concern along those lines is who is responsible for damages to the driverless car itself if it is responsible for an accident in which it gets damaged? As above, should the software design firm pay for your damages? The car company? Are you responsible, as the owner of the vehicle?
A bit more disconcerting – what if your vehicle’s software is hacked? If the vehicle is dependent upon mobile maps & directions to get from point A to point B, what if mobile/cellular service is lost? How will the vehicles navigate, and in particular, how will it respond to the ever-changing conditions of roads and construction, closures, traffic, etc?
Lloyd’s of London published a market-watch article (along with its far more lengthy corporate report) about some of these very issues. While the article isn’t conclusive, it does provide some key insights into considerations and factors at hand: “liability will be a key issue because autonomous and unmanned vehicles involve the transfer of control from direct human input to automated or remote control. ‘In many cases the technology is there to create fully autonomous vehicles, but the legal and regulatory environment needs to be developed further, and public trust will also need to be fostered,’ says Maran.”
One thought I see being repeated consistently is that, ultimately, the increased safety offered by autonomous vehicles will rapidly outweigh the legal and insurance liability concerns: “Many of the routine claims that currently drive the cost of motor insurance will reduce or almost disappear entirely, explains Powell. The resulting decreased exposure for insurers would probably require underwriters to change the design and pricing of motor insurance products, he says.”
At the end of the day, because the technology is a relatively long way off, the “problems” of insuring driverless cars still bring up more questions than answers. Regardless of the characteristics of the final product, the technology is coming, and the insurance companies that are able to quickly analyze and adapt to the new risks will be a huge step ahead of their competitors.
Some additional resources, reading, and even some videos to watch:
Ground water is not covered by virtually any building or dwelling insurance policies without a flood insurance policy. This fact is very likely to come into play by early next week in the Buffalo area of western New York state as temps are predicted to rise into the 60’s and rain is being called for Sunday and Monday.
That’s going to mean a LOT of atypical water, including a lot of ground water, which is likely to cause a lot of headaches and damage for homeowners. As mentioned above, if you do not have flood insurance, damage done to your home or other building(s) is not going to be covered. What’s “worse” is the fact that if you do not already have flood insurance, you cannot buy it now in hopes of protecting your home from next week’s potential flooding – flood insurance policies require a 30 day waiting period for that exact reason. The only time the 30 day waiting period can be waived is if the flood coverage is being required by a mortgage lender on a newly-purchased building.
Don’t have flood insurance and worried about the damage that could be done? Here are a couple websites that have some useful suggestions of how you can at least mitigate or prevent much of the damage: