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Merry Christmas & Happy New Year! Our office hours will be as follows: Friday, December 23rd - Closed at 12:00  Get Deals, Not Steals: Tips for Shopping Safely
Online Thanksgiving is over, and the holidays are in full swing, which
means stores and malls are bustling with holiday shoppers looking for presents to put under the tree. While some people enjoy
the adventure of going from store to store in search of that perfect gift, others seek refuge from the holiday crowds by buying
their gifts online. While shopping online can be a less stressful and often money-saving alternative, the convenience of shopping from the comfort of your home comes with some risks. Cyber attackers and scammers are just waiting to prey on those who don’t properly protect their personal information, such as credit and debit card numbers and bank account information.
• Shop only on secure website. To determine if a site is safe, look at the address box for an “s” in https:// and check the lower right corner of the page for a lock symbol. Both of these things indicate that a site is safe to use for purchases. You can also check with the Better Business Bureau (www.bbb.org) for information about a company’s reputation and customer satisfaction rating.
If your credit card or personal information is stolen, your homeowner’s policy may cover your liability. Check with your Trusted Choice® independent insurance agent to find out if you’re protected from this type of loss or if you have any other questions regarding your policy. Safety Tips for Decking the Halls
Think your home, condo or business insurance policy covers flood? Think again!Two Types
of “Water Damage” Common Causes of Flood Who is at Risk? Property owners are often mislead into believing that flood insurance is only available for properties that are located in a special flood hazard area or “flood zone.” Unfortunately, this myth has caused many property owners to suffer from uninsured flood losses that could have been easily covered. The only requirement is that the property is located in a “participating community.” This could be a township, municipality, city or county that has agreed to participate in the NFIP. Preferred Risk
Policy (PRP) A
Few Unique Features of Flood Insurance Waiting Period The waiting period does not apply to a renewal policy. There are two exceptions to the 30-day waiting period: the first is if the policy is required in conjunction with the closing of a loan. The second is for property owners that previously were not required to purchase flood insurance but are now being told they must as a result of a new map from FEMA indicating that property is now located in a special flood hazard area. Two Deductibles? Note that lenders who require owners to purchase flood insurance typically only require insurance on the dwelling or building and do not require flood insurance on contents. Owners should carefully consider the cost to repair or replace contents before choosing to forgo insuring them. Other Structures No Additional Living Expenses These examples are intended to illustrate some of the important differences in flood insurance and your typical home, condo or business policy. There are several other factors that differentiate a flood insurance policy from the type of insurance you may already have. This is why a conversation with your Trusted Choice® insurance professional is the important first step in learning how to protect your biggest asset from flood damage. Call today! Source: National Flood Insurance Program, www.floodsmart.gov Flood Insurance: What It’s All AboutNot so long ago, Hurricane Katrina pounded the Gulf coast of the United States, wiping out more than 250,000 homes. That massive storm painfully brought to public awareness the fact that flood damage is not covered by homeowners insurance. Many consumers were unaware that, even though their homes were ruined in the hurricane, they were not insured since they lacked flood insurance. Insurance against flooding (rising water) is different from insurance against driven rain or leakage, which often are covered. Since that time, tens of thousands of Americans have purchased flood insurance for the first time. Three perils—fire, lightning and windstorm—are traditionally covered by homeowners property insurance. Flooding is excluded from homeowners coverage, as floods tend to be catastrophic in nature causing widespread damage in a geographic area. Private insurers are not able to absorb all that risk. Hurricanes get a lot of attention, but big storms are not the only cause of floods, nor are floods limited to coastlines. In fact, flooding is the nation’s most common and frequent natural disaster, according to federal officials. Flood insurance first came about after the federal government was called upon to bail out communities. As the nation grew after World War II, flood-damaged communities turned to the federal government for disaster relief and rebuilding assistance. In the 1960s, Congress sought a more proactive system, and in 1968 created the National Flood Insurance Program (NFIP). This community-based insurance mechanism requires municipalities to adopt and enforce flood-abatement measures. In order to join the NFIP, it must adopt a program of corrective and preventive measures for reducing future flood damage (including zoning and building requirements). Flood insurance is available only to consumers in communities that have joined the NFIP. The National Flood Insurance Program (NFIP) is part of the Federal Emergency Management Agency (FEMA). It provides flood coverage to homeowners and renters as well as commercial building owners. Coverage is provided through Trusted Choice® insurance professionals as well as through other insurance agents. Flood insurance may not just be desirable for homeowners, it may be required. For example, mortgage lenders are legally bound to require consumers buying a house in a high-risk flood zone to have flood insurance. Consumers owning or renting property in low- or moderate-risk flood areas can buy flood insurance, and may be eligible for a lower-cost preferred risk flood policy. Flood insurance protects against losses to buildings and contents (not the property on which they sit). Coverage is in effect whether flooding results from heavy rains, storm surge on the coast, melting of snow, blocked storm drainage systems, levee or dam failure, or other causes. Waters must cover at least two acres or affect at least two properties to be considered a flood for insurance purposes. Residential flood insurance provides as much as $250,000 of coverage for dwellings for 1-4 families, and as much as $100,000 for contents. Commercial property owners can get up to $500,000 of insurance for the building and the same amount for contents. Condominiums also can be insured. Unlike homeowners insurance, flood insurance has a waiting period. The NFIP sets a standard 30-day waiting period before flood coverage goes into effect (except for lender-required flood insurance, if more insurance is required because of a flood map revision, or if existing coverage is being increased upon renewal). A Trusted Choice® insurance professional can help you sort out whether you need coverage, what type to apply for, and what to get. Flood insurance can be purchased by contacting your Trusted Choice® insurance professional or find one through our Agency Locator. Consumers also may call (888) 379-9531 or visit www.floodsmart.gov to request an agent referral.
Life Insurance: Can You Live Without It?In the thick of an economic slump, many consumers aren’t likely to have “buy life insurance” at the top of their to-do lists. Yet life insurance is indispensable. Parents and business owners—indeed, anyone who has people dependent on them financially either at home or at work—can benefit from the unique advantages of life insurance. In the United States, consumers and businesses owned more than $19 trillion of life insurance as of year-end 2007, reported the American Council of Life Insurers. Yet a myth persists that life insurance is too costly, falsely contributing to the perception that life insurance is not a necessity. But life insurance has actually declined or flattened in price in the past several years, according to a recent report by the Insurance Information Institute. A 2008 survey by the Life and Health Insurance Foundation for Education noted other obstacles for consumers: 23 percent of consumers just had not gotten around to buying it, and 22 percent confessed they did not know enough about it. What is life insurance? Life insurance is a financial contract in which a life insurance company agrees to pay an amount of money to a person upon the death of another person, in exchange for regular payments (known as premiums). Life insurance serves two key financial functions. First, it’s a tool for prepaying for immediate expenses needed soon after the time of a person’s death. Second, it’s a way to generate substantial investment capital to produce future income (to replace income that an insured person would have been providing if they had not died). Because a deceased breadwinner no longer is providing an income stream from salary, commissions or wages, a family needs to have invested funds that can generate replacement income. Likewise, a business owner who passes away leaves behind co-owners and employees who need funds to replace the person’s expertise and revenue-generating capabilities, or to restructure the business. Life insurance provides that large sum of capital, at a time (death) that cannot be predicted. To determine if and how much life insurance is appropriate, a Trusted Choice® insurance professional can help answer two important questions: 1) How much cash will be needed upon the death of a parent, business owner, or other individual? These immediate costs often include uninsured medical expenses and funeral expenses. Additionally, many consumers and business owners have financial obligations that do not go away upon death: a mortgage loan, auto loans, business loan or line of credit, credit card debt and college costs, to name the most common. 2) How much annual income would sustain a household? An estimate of income for a family starts with the amount of income earned in the year prior to a breadwinner’s passing. From there, additional expenses (child care, for example) should be added; while living expenses for the deceased person can be subtracted. A Trusted Choice® insurance professional can help calculate the amount needed today that would provide an annual income for a certain number of years in the future. That’s the starting point in a decision of how much life insurance you need for your family or business. Your Trusted Choice® insurance professional can help sort out other potential sources of funds, such as Social Security benefits, pension income, group life insurance benefits, and investment income from other assets. These amounts typically reduce a person’s need for life insurance, but don’t eliminate the need. Life insurance comes in two broad types: term (or temporary) and permanent (or lifetime). Term life insurance pay benefits if the death of the insured person happens during the “term” of the policy (anywhere from one year to as much as 20 years). Permanent life insurance pays benefits no matter when the insured person dies. (It is known as “whole life” since it is in force the whole lifetime of the insured person.) There are varieties of permanent life insurance, such as universal life, variable life and traditional whole life. More than 1,000 licensed life insurance companies in the United States make for a competitive marketplace for consumers. That competition has driven down costs for term life insurance, reported the Insurance Information Institute, while keeping permanent life insurance costs stable. Premiums are calculated for each person who applies for life insurance, based on cost tables. Age (the older, the higher the cost) and health status are two key factors life insurers use to set premiums. One lesser-known discount: per-unit cost for life insurance goes down with larger amounts purchased. Life insurance is distinct from other financial products because of two key tax advantages: the money paid into a permanent life insurance policy can accumulate free of income taxation; and the benefits paid from a life insurance contract are free of income taxation. Some people may think they can live without
life insurance, but in reality it’s their families and businesses that cannot. If you want to increase the
financial security of your family or business, contact a Trusted Choice® insurance professional to
begin a discussion of life insurance needs and solutions.
Transporting Kids to School EventsAs early as they start school, children become involved in extra-curricular activities. Adults charged with getting groups of kids from home or school to the ball field and back home again are usually more concerned with maintaining their sanity than auto insurance. However, hauling kids around could have a serious affect on your coverage. In an auto accident, drivers can be legally liable for their passengers’ injuries. Most personal auto policies will extend coverage for injuries to passengers when driving your own car. But what if you rent or borrow a large van to take the soccer team out of town for a weekend tourney? While most auto policies will cover your actions in a car that isn’t yours, many contain restrictions on the size and type of vehicle they will cover. School employees, such as teachers and coaches, who use their school’s vehicles to haul students and players from place to place have another reason to be concerned. In addition to possible size restrictions, there’s a concern with regular usage; specifically, your personal auto insurance policy may not pay for your liability from an accident in a vehicle that is not yours but is provided for your regular use. In addition to uncertainty with whether or not your policy will even respond, another serious concern is adequate limits of insurance. A serious injury to a single passenger could mean thousands of dollars in medical and other costs stemming from the injury, and those dollars increase with the more passengers that are involved. There are published accounts of accidents involving adults driving in a car pool in which damages greatly exceeded $1 million. Yet, many adults continue to purchase auto liability limits based on the minimum required by state law. In some states, this required amount may be as little as $10,000 per person and $20,000 total for all injuries in an accident—not likely sufficient when you consider the severity of certain injuries and the number of passengers involved. Remember also that this limit applies for all injuries caused by an accident for which you are liable, including passengers of other cars. Adults driving kids to athletic and other events should consider maintaining the highest liability limits possible, as well as a personal umbrella policy. The umbrella can provide much higher limits of liability, some well over $1 million. Today’s drivers are faced with a multitude of distractions that pose a risk for accidents. Understanding your personal auto insurance could help bring at least a little peace of mind – talk to your Trusted Choice® insurance professional if you have any questions. ---------------------------------------------------------------------------------------------------------------------------------
Insurance: The One Question Everyone Asks“Am I overpaying?” That’s a question that every consumer asks from time to time. Everyone is curious and concerned as to whether he or she is getting a good value for the money, whether it’s for a candy bar, a car or an airline ticket. It’s a good question to ask about insurance, too. After all, Americans spend a lot of money on insurance for homes, autos and businesses. In 2008, American drivers spent $161 billion for personal automobile insurance, reported the A.M. Best Co., an insurance research and ratings firm. This large market for auto insurance is highly competitive. Consumers play a large part in keeping insurance rates competitive by virtue of shopping—whether online, by telephone or on the World Wide Web. More than one of four (about 28 percent) of auto insurance buyers shopped around for car insurance in 2009, reported J.D. Power & Associates in its 2009 national auto insurance study. But consumers aren’t the only ones shopping around for auto insurance. So too do independent insurance agents, including Trusted Choice® insurance professionals. On average, Trusted Choice® insurance professionals provide consumers with property/casualty insurance options from eight different insurance carriers, reported the 2008 agency universe study conducted by Future One, a collaboration of the Independent Insurance Agents and Brokers of America (the Big “I”) and leading independent agency companies. For automobile insurance, those agents may compare rates and coverages at even more insurance companies, through their use of software that allows them to compare multiple policies and multiple carriers. For auto insurance buyers, research showed that independent agents rank most highly on the most important element of customer satisfaction. The J.D. Power study measures customer satisfaction with auto insurance companies across five factors (in order of importance): interaction, policy offerings, billing and payment, price and claims. Insurers who sell their auto insurance products through agents performed “stronger in the interaction factor than do direct insurers,” reported J.D. Power. Overall, customer satisfaction with auto insurance companies reached a five-year high in 2009, reported the J.D. Power study. The biggest improvement in satisfaction among the five factors has been in price. Interestingly, 42 percent of customers in 2009 reported that their auto insurance premiums declined without switching insurers. Are you overpaying for auto insurance? Thanks to a competitive market that includes Trusted Choice® insurance professionals, the answer probably is no. If you’re not sure, ask a Trusted Choice® insurance professional to review your options. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Is insurance for an old car necessary?Should the age or value of your car make any difference to the cost of your auto insurance? For some insurance coverages, the answer is no. Take liability coverages, for instance. These are the limits that protect you when you injure someone or someone else’s property with your car and are being held liable for the damages. It doesn’t matter whether you run over someone with an old clunker or a new SUV. And you will need liability insurance to cover your legal costs and pay the damages if you are found responsible. Medical coverages? Uninsured or underinsured motorist coverage? Again, it does not matter if you or your passengers are injured in a 1979 Dodge or a 2002 Mercedes. These coverages are still necessary. The only coverages you should consider altering simply due to the age or value of your vehicle are the ones that will actually pay for damages or loss of your car. For example, if your car is stolen and never recovered, your insurance carrier owes you the actual value of your car less any deductible. If your car at the time of the theft is worth $11,500 and you have a $250 deductible, your insurance should pay $11,250. If you have an old car worth $1,150 with the same $250 deductible, you are due only $900. Quite a difference! And the math works the same for a collision or any other type of covered damage. Naturally the price you pay for your physical damage coverages goes down along with the value of your car. And as long as you still are making car payments, the bank will require you to keep these coverages in effect. Once you pay off the car loan, consider if the amount you may receive for a total loss (minus your deductible) is worth the premium. One rule of thumb is to consider the car’s remaining useful life. Multiply the number of years by the annual premium. Compare that to how much you will receive for a total loss. How good a deal do you think it would be to keep paying that part of the premium? This is totally subjective. Consider your peace of mind. Even a car that some consider worthless is worth insuring if the loss would cause you to lose your sole method of transportation. Even if your insurance didn’t pay much, if it is enough to get you into another car that meets your needs, then that is a price that may be worth paying. How do you know how much you will get for a total loss? Generally insurance companies will look at common references for valuing vehicles, such as the “blue book” or average price a similar vehicle is selling for in your area. Ask your Trusted Choice® insurance professional what guidelines your particular insurance carrier will use and plan accordingly. Physical damage to your old car is the one place in your personal auto insurance it may actually make sense to minimize or eliminate coverages. You not only face getting less money from a settlement, but if you are like many, a scratched fender may not seem nearly as important to fix when the rest of the car is being held together with duct tape. -----------------------------------------------------------------------------------------------------------------------------------------------------------------
Shopping Carts WoesCould your car’s worst enemy be…a shopping cart? How could a motor-less, four-wheeled wannabe pose such a threat to a proper automobile? Believe it or not, one of the most common causes of body damage to a car is the dings and dents received by not-so-innocent buggies in the parking lots of your neighborhood grocery store. The question is: If your car is the next victim, how will your car insurance respond? When dealing with damage to your car, there are two types of insurance: collision and other-than-collision (commonly called OTC or “comprehensive”). A common misconception is that the two are one and the same; likely because of their collective nickname: “physical damage.” In fact, they are separate types of insurance covering different types of losses, usually containing different deductibles and warrant a separate premium. Many drivers carry both, some carry one or the other, and others forgo this insurance all together. Drivers who don’t have collision or OTC coverage should not expect to receive any dollars for damage caused by this rolling enemy. Drivers who do purchase collision, OTC or both must rely on the facts to determine which one will apply. Many drivers that have both may have a higher deductible on one or the other and, depending on how the loss is classified, be forced to pay the larger deductible. That difference could mean hundreds of dollars out-of-pocket. For example, what happened that ultimately introduced the shopping cart to your car’s new paint job? If you back into a cart or someone accidentally runs into your car while steering toward the space next to yours, these claims could fall under the heading of collision. But people aren’t the only culprits. Many cars are damaged by a cart that rolls due to an uneven surface or a gust of wind. These claims could fall under the heading of OTC. Unfortunately, history has proven that there is no absolute rule in determining where shopping cart claims should be paid; each claim is fact specific. The important thing for drivers to realize is that it is possible for the claim to be covered under either. To help control the out-of-pocket cost surrounding this mystery, drivers could consider carrying the same deductible amount for both collision and OTC—this way at least you know what it will cost regardless of the details. Changing deductibles is a simple process that can be made in one quick phone call to your Trusted Choice®insurance professional. And next time you go to the store remember to watch for unattended buggies… you might just be their next target! -------------------------------------------------------------------------------------------------------------------------
Family Members: What You Auto KnowThose that design personal auto insurance policies learned years ago that folks living in the same house will take turns driving the family cars. That’s why auto insurance policies are designed to provide coverage not just for the person specifically named on the policy (you) but also your spouse and family members. But whether it’s attributable to a child’s dream of independence or a parent trying to save money by pawning off costs on kiddo, many family members who live in the same house have their own cars and their own car insurance. If this is the case in your home, there is a danger lurking in that folder where you keep the auto insurance policy; a danger that if unknown can be very costly. Here’s the problem: most policies contain a limitation for the use of a vehicle that is owned by a family member and not specifically covered by your insurance policy. While the limitation may not apply to you or your spouse, it does apply to any other family member who is normally covered by your policy. Consider the following example: Al and Peg have children living at home—a 19-year-old daughter, Kelly, and 17-year-old son, Bud. Kelly has her own car and car insurance with liability limits of $25,000/50,000/10,000. The first two numbers represent limits that apply to bodily injury suffered by a third party— the first is the maximum per person, the second is the maximum per accident. The third number is the limit that applies to property damage— this could be to another car or any other property belonging to a third party. Al and Peg have much higher limits of $100,000/300,000/100,000. Bud is still whining that he doesn’t have a car. One night, with her permission, Bud takes out Kelly’s car and causes an accident that seriously injures the other driver. Since it was Kelly’s car, her policy limits will apply. Unfortunately, the cost of the other driver’s injuries is much greater than the $25,000 limit on Kelly’s policy. Bud looks to his parents’ car insurance for help. His search is in vain: Kelly’s car is owned by a family member and therefore not covered by his parents’ policy. Were the situation different and it was Al or Peg who borrowed Kelly’s, car, the limitation would not apply. Were Bud to borrow the neighbor’s car the limitation would not apply. But since it was a family member’s car and it was Bud driving, the limitation applies. And since Bud has no insurance of his own to turn to, the family could be responsible for the remainder of the other driver’s injuries out-of-pocket. Unfortunately there is no easy fix for this limitation. The best method is avoidance, but telling the kids not to drive each other’s cars may be more ideal than realistic. If your current household arrangement could make this scary situation a reality for your family, consider encouraging your kids to increase their liability limits to a level more sufficient to pay for a serious injury. This way more of the cost will be absorbed by the insurance company and less by your family. ------------------------------------------------------------------------------------------------------------------------- Do Individuals Need to Buy UM Coverage?Uninsured or underinsured motorist coverage (referred to as UM or UIM, respectively), is a unique form of auto insurance in that it gives drivers an added opportunity to protect themselves from “out there”—specifically, all those people driving with little or no auto liability insurance. While most states have mandatory minimum limits of liability required of all drivers, many of these requirements are less than sufficient in covering injuries sustained in an auto accident. Hence, the need for UM. Some states also require a minimum amount of UM be purchased; however, many leave that decision to the driver. In addition to its unique nature, UM is an often misunderstood form of auto insurance. A common question folks ask is why someone should pay for UM if they are covered under some other form of medical or disability insurance? The answer involves understanding what UM will pay for that other policies will not. UM policies agree to pay for compensatory damages. This term is not specifically defined in a UM policy because its intention is to cover a broad arrangement of expenses you personally incur at the fault of an underinsured driver. While it’s true that some expenses like medical costs may also be covered by your health insurance, others may not be. These expenses include disability income, injuries to passengers, and non-economic losses like pain and suffering. Further, escalating health costs are leaving more folks without health insurance. In 2007, the number of Americans without any health insurance eclipsed 46 million. Many of these folks drive cars and are one auto accident with an underinsured driver away from financial ruin. For someone with no other medical insurance, UM is an essential, affordable coverage. So how much UM insurance should you purchase? Since costs like those mentioned above that are covered by your UM can be expensive, it is always recommended that you carry the highest limits available. Lower limits could lead to insufficient dollars available to pay a claim, or worse. Some states' laws actually prevent recovery under your UM policy if the limits are equal to the state’s minimum auto liability requirement unless the driver who hits you has no insurance at all. While there are certainly those out there, most drivers have at least enough to satisfy their state requirement. Because state laws concerning UM coverage vary, it is important to call your agent when considering changes to your auto insurance. In a perfect world there would be no need for UM coverage; however there are still quite a few people out there who still haven’t discovered the importance of buying adequate auto insurance. You never know who’s going to cause your next accident. UM can help you rest assured that even if they aren’t covered, you will be. ------------------------------------------------------------------------------------------------------------------------
Mobile Devices: Does Insurance Tag Along?Mobile information devices like PDAs and MP3 players occupy the bags and pockets of tens of millions of Americans. These devices can be pricey, often costing hundreds of dollars. The cost to obtain the information programmed on these gizmos can be exponentially more. If your portable device is damaged or stolen, will these costs be covered by your insurance? Personal Insurance This pervasive product ranges in cost—usually a few hundred bucks or less depending on bells and whistles—and that’s just for the hardware. Downloading music can cost a dollar a song, videos and “podcasts” even more. Add in time spent collecting this information and you’ve got thousands of dollars invested in this thing. The same is true for other portable devices. The good news is that most homeowners policies cover personal property while it is anywhere in the world—a positive considering the nature of these devices. The bad news is that coverage is limited—meaning the check you receive after the loss may not be what you expect. While many believe their iPod is “worth” thousands of dollars, a homeowners insurance policy is designed to cover “direct physical loss” to property. Therefore, a typical policy will cover the cost of the device itself but not the cost of the information stored on the device. Some homeowner policies include coverage for loss to “personal records,” which may include information stored on a portable device. However, not all will do so and those that do likely limit coverage to a relatively small amount. If you have questions, consult your Trusted Choice® insurance professional at Coggins Insurance Agency, Inc.. Business Insurance If you own the device personally and use it for business, coverage under your homeowners insurance policy is less generous. Personal property used for business may not be covered worldwide and is subject to an amount of insurance that is lower than other personal property. A further restriction is that any limited coverage available for “personal records” does not apply to business records. If the device is owned by your employer, it’s likely covered under a business insurance policy. Such policies contain similar limitations for loss of information. Business owners should call their Trusted Choice® insurance professional at Coggins Insurance Agency, Inc. for information about electronic data coverage. Back it Up -------------------------------------------------------------------------------------------------------------
Recreational Vehicles
Boats, jet skis, ATVs and recreational vehicles are exciting modes of transportation. They provide a great means of escape on weekends and vacations, but ownership of these thrill-seeking vehicles creates the need for special insurance to protect you, your passengers and others. While all recreational-type vehicles can be protected by the same basic coverages, each one has its own special requirements and restrictions. This brochure offers some basic information about insuring the vehicles you use for sports and recreation. Basic Coverages At a minimum, boats, jet skis, ATVs and recreational vehicles need "liability" and "comprehensive" insurance coverage. Liability protects you if your vehicle injures someone or damages someone else's property, and comprehensive insurance protects your property in case of vandalism, damage or destruction caused by theft or fire. Depending on the age and value of your investment, you may want to purchase collision insurance, which provides coverage for damage you cause to your own property. Boats The amount you pay for your boat insurance will depend on many factors including the boat's value and the value of your boating equipment, the engine's horsepower and whether it's in-board or out-board, and the length of the boat. You may purchase additional coverages for such things as such as Fuel and Other Spillage Liability, your boat trailer, medical payments, personal effects and liability to protect you from an uninsured boater. You may be eligible to receive lower rates if you hold a captain's license or have completed safety courses provided by the U.S. Coast Guard Auxiliary or Power Squadron Courses. You may also receive discounts for having safety equipment on board or providing protective storage for your boat during non-use or off-season. Jet Skis The price of insuring a jet ski varies depending on its engine power and value. Your insurance costs will typically be higher for a jet ski with more than 500 cc. You also may obtain insurance to protect your trailer or to pay you for medical payments if you're in an accident. Recreational Vehicles You may want to purchase an auto insurance policy to cover this type of vehicle. This policy will provide you with liability, medical payments and physical damage coverage for your motor-home and can be endorsed to include coverage for rental to others. Other coverages you may want to consider are:
---------------------------------------------------------------------------------------------------------------------------------------------------- Adding a Pet to the Family This Holiday Season? Insuring Income: The Lifeblood of Your Business Cleaning up the Mess BREAKING NEWS: WE CAN NOW WRITE HOMEOWNERS INSURANCE WITH SAFECO IN ALABAMA!!!  Recreational Vehicles
Boats, jet skis, ATVs and recreational vehicles are exciting modes of transportation. They provide a great means of escape on weekends and vacations, but ownership of these thrill-seeking vehicles creates the need for special insurance to protect you, your passengers and others. While all recreational-type vehicles can be protected by the same basic coverages, each one has its own special requirements and restrictions. This brochure offers some basic information about insuring the vehicles you use for sports and recreation. Basic Coverages At a minimum, boats, jet skis, ATVs and recreational vehicles need "liability" and "comprehensive" insurance coverage. Liability protects you if your vehicle injures someone or damages someone else's property, and comprehensive insurance protects your property in case of vandalism, damage or destruction caused by theft or fire. Depending on the age and value of your investment, you may want to purchase collision insurance, which provides coverage for damage you cause to your own property. Boats The amount you pay for your boat insurance will depend on many factors including the boat's value and the value of your boating equipment, the engine's horsepower and whether it's in-board or out-board, and the length of the boat. You may purchase additional coverages for such things as such as Fuel and Other Spillage Liability, your boat trailer, medical payments, personal effects and liability to protect you from an uninsured boater. You may be eligible to receive lower rates if you hold a captain's license or have completed safety courses provided by the U.S. Coast Guard Auxiliary or Power Squadron Courses. You may also receive discounts for having safety equipment on board or providing protective storage for your boat during non-use or off-season. Jet Skis The price of insuring a jet ski varies depending on its engine power and value. Your insurance costs will typically be higher for a jet ski with more than 500 cc. You also may obtain insurance to protect your trailer or to pay you for medical payments if you're in an accident. Recreational Vehicles You may want to purchase an auto insurance policy to cover this type of vehicle. This policy will provide you with liability, medical payments and physical damage coverage for your motor-home and can be endorsed to include coverage for rental to others. Other coverages you may want to consider are:
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- “Get a Life” Whether by a diligent insurance agent, concerned spouse or family member, chances are you have been asked this question: “Do you have life insurance?” For some, life insurance is easily obtained on a group plan as a workplace benefit. Those without this option must purchase life insurance individually on an open market. The life insurance marketplace is highly competitive and there are many products available for purchase. While the vast selection is a good thing for buyers, it can contribute to anxiety for those not sure which type of life insurance is best for them. If you are shopping for life insurance for your family and are overwhelmed by all of the choices, the following brief descriptions of some of the more common options may be helpful. Term Life. Term life is the most common type of life insurance policy. This type of insurance is simple: you pay a premium based on the number of years the policy will be in effect, such as 10 or 30 years. If you die before the specified age, a pre-determined sum of money called the “death benefit” will go to your beneficiary who can use it for a variety of reasons, including the cost of final expenses or to replace your lost income. The death benefit is the sole function of a term life policy; it does not accumulate cash value. Term life provides the best opportunity for many individuals who are looking at life insurance for the death benefit rather than as an investment. Cash Value. A cash value policy provides the opportunity to purchase term insurance in combination with a savings or investment account that can collect interest, be used for loans and other functions. Some options allow the policyholder a greater degree of control of the cash value. A cash value policy is an attractive option for someone who understands the importance of the death benefit but appreciates the opportunity to grow the policy’s value over time. Whole Life. A primary function of this form of life insurance includes a low-risk cash value account that accumulates on a tax-deferred basis. The cost of the insurance is fixed and does not change, provided the premium is paid. The policy also allows the policy owner to withdraw funds from the cash value, although the death benefit is reduced if that is done. Variable Life. A primary function of this form of life insurance includes a risk-basis cash value account that accumulates on a tax-deferred basis. You have the option to borrow from the policy. The death benefit could change depending on the level of returns produced by the cash value account. Universal Life. A primary function of this form of life insurance includes a low-risk cash value account that accumulates on a tax-deferred basis. The cash value account earns current market rates of interest. The policyholder has the ability to borrow or withdraw from the policy. There is greater flexibility in the premium. Universal Variable Life. This type of life insurance offers the policyholder greater flexibility and more options. For example, cash value options are tax-deferred. Separate accounts are available for investments the policyholder is interested in, such as stocks, bond funds, and other opportunities. The policyholder can withdraw or borrow against the policy. The fact that it is tied to securities gives this type of policy a greater opportunity to grow. Conversely, it may not be ideal for someone searching for a more low-risk conservative product. Which is right for your family? Does the opportunity to accumulate and utilize cash value over time interest you? If so, you can see that there are many options that allow you to do this. Some are low-risk; others have a greater risk-reward factor. If you choose to separate investments and savings from life insurance, and if your primary concern is to provide a death benefit, then a term life policy is right for you. This is “pure insurance”—full coverage if death occurs before the designated term, no coverage if death occurs after. It’s simple but runs the risk of paying nothing if you out-live the term. Too many options can create anxiety that could drive you away from purchasing life insurance. But consider that, while the number of choices can be daunting, life insurance is much too important to ignore. The good news is that you don’t have to go about the decision alone. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Think your home, condo or business insurance policy covers flood damage?
Think again! Two Types of “Water Damage” A standard home insurance policy will cover losses caused by water that accumulates in the home resulting from the accidental discharge of a system of appliance, such as a broken hose or valve. That same policy will not cover losses caused by water that accumulates as a result of the overflow of a body of water or runoff of surface water. Common Causes of Flood Floods often result from torrential rainstorms and hurricanes. Floods also commonly result from snow melt. Floods also result as a side effect of development- such as road construction or a new housing community- that alter storm water drainage patterns. Who is at Risk? Flood insurance is not just for people living or working on the coast. According to the National Flood Insurance Program (NFIP), 31 percent of the properties damaged by floods are located outside of a special flood hazard area as designated by FEMA. The NFIP reports that floods happen in all 50 states and that floods are the second most common cause of property damage behind fire. Property owners are often mislead into believing that flood insurance is only available for properties that are located in a special flood hazard area or “flood zone.” Unfortunately, this myth has caused many property owners to suffer from uninsured flood losses that could have been easily covered. The only requirement is that the property is located in a “participating community.” This could be a township, municipality, city or county that has agreed to participate in the NFIP. Preferred Risk Policy (PRP) The NFIP offers the PRP for homes and businesses that are not located in a special flood hazard area and do not have a history of flood claims. The PRP allows eligible buyers the opportunity to purchase flood insurance at a pre-determined rate. PRP rates are intended to remind property owners that regardless of where the property is located the aforementioned data is proof that it’s still a good idea to purchase flood insurance. A Few Unique Features of Flood Insurance It is important to remember that a flood insurance policy is a separate policy from your home, condo, or business insurance. This means that flood insurance is subject to its own terms and conditions. Following are a few of the unique features: Waiting Period There is a 30-day waiting period from the date you first purchase flood insurance to the date that policy takes effect. This is designed to prevent the purchase of coverage for losses in progress. The 30-day waiting period also applies to changes made to an in-force flood policy. For example, if you currently carry $200,000 in coverage for your home and decide to raise that amount to $250,000, you must wait 30 days before the change will take effect. The waiting period does not apply to a renewal policy. There are two exceptions to the 30-day waiting period: the first is if the policy is required in conjunction with the closing of a loan. The second is for property owners that previously were not required to purchase flood insurance but are now being told they must as a result of a new map from FEMA indicating that property is now located in a special flood hazard area. Two Deductibles? Let’s say a flood causes $50,000 in damage to your home and $10,000 to contents. Your policy includes a $1,000 deductible. That deductible will apply once towards the recovery of your home and once towards the recovery of your contents. This means it’s possible you will pay the deductible twice for the same loss: once for the dwelling and once again for contents. Note that lenders who require owners to purchase flood insurance typically only require insurance on the dwelling or building and do not require flood insurance on contents. Owners should carefully consider the cost to repair or replace contents before choosing to forgo insuring them. Other Structures An important feature of your home insurance is the inclusion of coverage for certain types of other structures such as a detached garage or pool house. The only other structure that the flood insurance policy will extend coverage to is a detached garage. Other structures may be eligible for coverage under a separate flood policy. No Additional Living Expenses An important feature of your home insurance is the ability to collect money from the insurance company to pay living expenses while your home undergoes repair. These expenses may include hotel, food and other expenses. Unfortunately, the flood insurance policy offers no coverage for additional living expenses- such costs must be paid out-of-pocket. These examples are intended to illustrate some of the important differences in flood insurance and your typical home, condo or business policy. There are several other factors that differentiate a flood insurance policy from the type of insurance you may already have. This is why a conversation with your Trusted Choice® insurance agent is the important first step in learning how to protect your biggest asset from flood damage. Call today! ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
6 top car insurance mythsBy Insure.com Insurance can be complicated enough. Don’t let a flood of misinformation drown out the facts. Since misunderstandings can be costly, here are the most common car insurance myths debunked. Myth: Red cars are the most expensive to insure
"The idea that the color of a car enters into what you’re going to pay for insurance is a myth that’s been around for a long time," says Jeff McCollum, spokesperson for State Farm Insurance. "I wouldn’t be surprised if it came from the fact that people with red sports cars have the image of being wild and reckless, but it certainly isn’t based on any type of reality." Car insurance companies are interested in the year, make, model, body type, engine size and age of your vehicle. The color may be important to you, but it really doesn’t matter to your insurance company. Myth: Thieves prefer to steal new cars Fact: It’s the other way around. Statistics show that thieves actually prefer to steal older cars. According to a 2009 National Insurance Crime Bureau (NICB) report, the top 10 most-stolen vehicles reported in 2008 were the ‘94 Honda Accord, ‘95 Honda Civic, ‘89 Toyota Camry, ‘97 Ford F-150 pickup, ‘04 Dodge Ram pickup, ‘00 Dodge Caravan, ’96 Jeep Cherokee/Grand Cherokee, ‘94 Acura Integra, ‘99 Ford Taurus and ’02 Ford Explorer. "The reason we see so many older vehicles on the list is because they are easier to steal," says Frank Scafidi, spokesperson for the NICB. "Also, people are keeping their cars longer (in the faltering economy). That creates a good market for used parts. A lot of times, when they are stolen, they don’t make it back on the street intact." If you have an older vehicle and have dropped comprehensive coverage to save money, you are not covered for theft and do not qualify for rental car coverage. NICB’s report reveals that thieves have different preferences from state to state. Crooks in California and Florida prefer imports like Hondas and Toyotas. Texas crooks select pickup trucks. Criminals in Illinois, Indiana and Michigan have a thing for domestics (Dodges and Fords). Myth: My insurance will cover me if my car is stolen, vandalized or damaged from hail or fire. Fact: Unless you have comprehensive coverage, you are not covered for any of these things. A bare-bones policy in most states only requires you to buy liability coverage. This pays only for damage you cause to others. You need to purchase both collision and comprehensive coverage in order to fully protect your vehicle from all types of damage situations. Comprehensive coverage covers pays for damages to your car that are not the result of a car accident. That includes theft, vandalism, hail, fires and accidents involving animals. Collision coverage pays for damage to your vehicle from a car accident. Myth: If my car is totaled, my insurance will pay off what I owe on my loan or lease. Fact: When your car is totaled, your policy does not promise to pay off what you owe. It will pay you the actual cash value of your car, minus your deductible. Actual cash value is the amount your car was worth before the accident, factoring in depreciation. You are still responsible for any amount outstanding on the loan or car lease. The only way to cover the difference between the car's cash value and the amount you owe on a loan is to purchase gap insurance. Available to cover both auto leases and loans, gap insurance covers you if your car is totaled before you’ve paid off the loan, or before the lease term expires. Here’s how to save yourself some grief: buy gap coverage. Your insurer will decide if your car is "totaled." Generally a total loss is declared when the repair costs exceed a certain threshold of the car’s value, generally 70 percent. At that point, the insurance company will tow the car to the salvage yard and offer you the actual cash value of your car. Myth: My insurance company will pay for a rental car if my car is stolen or damaged in an accident. Fact: Even if you have comprehensive and collision coverage, it may not include a rental car. Rental car reimbursement is not automatically included in most car insurance policies, but you can add it at an affordable cost. According to the Insurance Information Institute, rental reimbursement coverage is available for $1 to $2 a month with most insurers. Even if you have this coverage, it won’t necessarily last until your stolen car is recovered or your damaged car is fixed. There’s a limit on how much your insurance company will reimburse you per day, plus a cap for a maximum amount per accident. For example, GEICO charges $20 per year for a maximum $750 in rental reimbursement, with no deductible to pay. In this case, GEICO would reimburse you up to $25 per day but no more than $750 per accident. Myth: Drivers of sports cars get more tickets and thus pay higher insurance premiums.
At the other end of the spectrum, the study also includes a "well-behaved vehicle list." Topping that list are drivers of the Jaguar XJ, followed by the Chevrolet Suburban, Chevrolet Tahoe, Chevrolet C/K-3500/2500, Buick Park Avenue, Mazda6, Buick Rainier, Oldsmobile Silhouette, Buick Lucerne and GMC Sierra C1500 pickup truck. While insurers don’t base their car insurance rates on this study, the insurance loss history for the model you drive and your own driving history factor into how much you will pay for car insurance.
 NOAA Expects Busy Atlantic Hurricane Season! Hurricane Preparations Safety - Part I: Hurricane Preparations Safety - Part II: Florida's Storm Surge Zones, Evacuation Routes and Evacuation Zones Home Generators Hurricane Safety Tips Eight Tips for the Road Ahead - Be Safe, Be
Smart On A Long-Distance Road Trip Whether you’re traveling alone, with a buddy or with your
spouse and a car full of kids, there are few things more “American” than the long-distance road trip. Countless
vacation travelers will drive the highways looking for fun and making memories with every mile. If traveling down the “holiday
road” is in your plans, take the time to prepare for your trip. You’ll have a more enjoyable vacation if you plan
carefully. Here are a few driving tips, courtesy of Coggins Insurance Agency, Inc.: 1) Maintain your car. Make sure your vehicle is up to date on
its maintenance schedule, and be sure to check the battery and tires. 2) Plan your trip and know where you’re going. Call ahead for proper and safe directions to get you
to your destination safely and have maps of the area on hand to help you navigate once you are off the main road. You’re
more likely to make good decisions, even in dangerous situations, if you’re clearheaded and know where you’re
going. 3) Be alert. Seems obvious, but driver inattention is surely the
cause of a lot of accidents. If you stay focused behind the wheel and plan carefully, you will have a wonderful summer road
trip. 4) Take precaution with a cell phone. Cell phones can be a lifesaver
when you need immediate access to emergency services after an accident. Keep your phone within easy reach and get to know
its features. However, use it prudently. Reports suggest that driving while talking on the phone increases accident rates. 5) Wear your seat belt. Whether or not it’s required by law in the state through
which you’re driving, always wear your seat belt as a safety precaution. 6) Protect your car against theft. Help deter criminals from taking your car with steering wheel
locks, switches that disable fuel or ignition systems, and electronic tracking devices. 7) If you’re in an accident. Taking immediate steps if you’ve been in an accident
can protect your family and your car from further damage. Stop immediately and make sure your car is not blocking traffic.
Turn off your car to keep it from overheating or catching fire. Warn oncoming cars using road flares or orange triangle reflectors.
After you have protected yourself and your family, call your insurance company immediately. 8) Make sure your auto insurance is up to date. Before you even leave the driveway, you want
to be sure you’re protected when you’re on the road and far from home. An independent insurance agent or broker
can provide the personal service and advice you need to travel in confidence. To learn more about what an independent insurance agency offers you, visit progressiveagent.com or
contact Coggins Insurance Agency, Inc.
Three Tips to Help Your
Vacation Get Off To a
Worry-Free Start With vacation season in full swing, you may be in the process of planning an annual getaway. While most people spend
lots of time looking for ways to maximize their budget, one costly decision is often left to the last minute—whether
to buy the optional insurance offered by a rental car company. “Deciding whether to buy ‘damage waivers’ or insurance at the rental car counter can be a confusing
experience—especially if you don’t know if you’re already covered by your personal auto insurance policy,”
said Rick Crawley of the Progressive Group of Insurance Companies. “Optional rental car insurance can cost between $7
and $25 per day, depending on the rental car company, vehicle make and model and type of waiver. Those daily charges can significantly
add to the cost of your rental.” Follow
these three tips, courtesy of Coggins Insurance Agency, Inc. to help you decide whether or not you should buy the coverage: 1. Consult with an independent insurance
agency – like Coggins Insurance Agency, Inc.. As licensed insurance professionals, independent insurance agents and
brokers can review and evaluate your policies to find out if the coverage you have on your personal vehicle provides protection
for you in a rental car. 2. Check with your
credit card company. Some credit card companies provide coverage at no charge if you use their card to charge the cost of
the rental. However, some restrictions may apply so be sure to ask for a description of the exact coverages provided. 3. Take your personal
auto insurance policy and details of your coverages with you to the rental car counter. You may be asked a question that these
papers can help answer—or, if you’re in doubt, you’ll have your agent’s name and phone number readily
available. “We want people to have the information they need to make more informed decisions about car insurance,”
said Crawley. “Knowing whether
you need to buy additional coverage can save you money and give you peace of mind so you can enjoy your vacation. Don’t
start off your trip questioning your decisions—take control by talking with your independent agent or broker and knowing
the answers to those inevitable questions.” To
learn more about all your independent agency can offer you, contact Coggins Insurance Agency, Inc.
or visit progressiveagent.com.
Do you need optional insurance when you’re renting a car? You’re standing
at the car rental counter waiting to start your vacation when you’re asked a tricky question. Do you want to buy damage
waivers, also known as car rental insurance? How will you answer? "Knowing if you need to buy rental insurance can save you money and give you peace of mind," says Rick Crawley with Progressive. "Optional insurance could nearly double the cost of the rental. Do your homework and know before you go." Here are some pointers: • Review your policy with your independent insurance
agent. Your agent can evaluate your personal car insurance policy to find out if you are covered in a vacation rental
car. • Check with your credit card company. Some credit cards provide coverage at no charge if you use their card to pay for the rental. However, some restrictions may apply. Be sure to ask for an exact description of what’s covered. • Take your insurance policy "Declarations Page" with you
to the rental counter. You may be asked a question that these papers can answer. If you’re not sure of an answer,
you’ll have your agent’s name and phone number readily available. "Generally, if you have comprehensive, collision and liability coverages on your personal car insurance policy, there’s a good chance you’ll be covered in a rental car," says Crawley. "Check with your agent to be sure. If you are covered, you would be liable only for the deductible on comprehensive and collision coverages, just like your personal vehicle." To learn more, talk with us here at Coggins Insurance Agency, Inc..
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Fact: 
Fact: That’s
not necessarily the case. According to a study released in 2009 by Quality Planning Corp., leading the pack with the most
violations are drivers of the Hummer H2 and H3. Hummer drivers have almost five times the number of violations compared to
the average. Drivers of three different Scion models (tC, XB Station, XA) also made the Top 10 list. Others on the list include
drivers of two models of the Mercedes-Benz (CLK63 AMG, CLS63 AMG), two Toyotas (Solara, Matrix) and the Subaru Outback Station
Wagon and Audi A4.