Why Umbrella Liability is Important

Umbrella's are necessary in todays litigious society.  This article highlights the importance of protecting your current and future assets from a judgement against you and your family.

Life Insurance Needs Estimator

There are a lot of excuses to not buy life insurance, "I don't need life insurance, my spouse will remarry" or "I have life insurance thru my company."  It is optimistic to think your spouse is such a catch that he or she could easily replace you even while trailing 2 kids and some extra pounds garnered over the years.  I personally would not want the financial future of my loved ones be dependent on whomever my partner could snag next!  If your family is financially dependent on you, you need life insurance and more than likely a lot more than your company provides.  MSN Money has a Life Insurance Needs Estimator that can help you figure out how much is needed to maintain your families current lifestyle without major changes.  I recommend starting with this tool by clicking on the blog title and then contacting a professional to work on meeting this need.  You don't want your family's final memory to be how much you left them in the lurch!

Insuring Teenage Drivers

The state association has some very useful information on how to insure your teenage driver andsome tips to keep them safe.  Check it out thier blog for this useful information.

Coverage Gap when Renting a Vacation Vehicle

Most people have experienced the hard sell at the rental car counter to purchase the collision waiver coverage for the vehicle being rented.   Due to the public being increasingly aware that their primary auto policy that includes physical damage coverage will apply to a temporary replacment vehicle i.e. a rental, there is no need to purchase this additional coverage.  This eliminated an income stream for the rental car companies.  To supplement this loss of income, they are now applying a diminished value rule to vehicles that are involved in an accident while rented.  For example; if a rented vehicle is damaged in an accident and is subsequently repaired,when it comes time for the company to sell that vehicle it will command a far less asking price due to the previous damage (diminished value).  The difference in the what they could have received and what they did receive due to the diminished value, is then billed to the renter months and possibly years after the original accident.  Some insurance companies are now addressing this issue with enhanced endorsements that can plug this gap in coverage.  Now is the time to speak to your agent regarding adding this coverage (if available).

Insurance Institute for Hightway Safety Top Picks 2010

Looking to buy a new car?  Check out this link to the most safe vehicles on the road.  Safety also equates to lower insurance premiums for those vehicles! 

Towing Tid Bit

Most people will carry full coverage on a newer vehicle and will add the towing and road service coverage.  How this coverage works is sometimes misunderstood.  For example, if you have a flat and the repair is made on site, the total amount of the repair is covered up to the towing and road service limit on the policy.  But, if the vehicle is towed to a repair facility and then the repair is made, only the tow is covered.  If possible take advantage of the full amount of towing coverage provided by having the work completed at the breakdown site.