Eagle Harbor Insurance Blog

With our nations current economic struggles, it has been reported that more and more families are reducing costs, with auto insurance being one of the first items removed from the budget. Based on an article on MSN.com they project one in six drivers will be uninsured by years end. http://www.msnbc.msn.com/id/30093235

I have personally spoke to many of our loyal clients and have found this data slowly becoming true. It is time, as independent insurance professionals ,that we proactively review our books of business and offer support and guidance to struggling clients. I cannot stress enough, that we are here to help and can 99% of the time, offer a quality solution to reduce premium, yet not compromise on liability coverages. If you or someone you know is considering dropping your auto insurance, please call us first....we understand the current situation and look forward to helping anyone with insurance needs work through these tough times.

 

With the current economic downturn, we all have been bombarded by on-line and television ads, claiming lower insurance rates, promising to keep more money in your pocket. Buyer beware! Many of these, so called "lower rates" , are actually Insurance Companies, offering lower coverage levels or omitting quality "optional" coverages , without clearly clarifying this to the consumer. The ad claims of lower premium fail to mention less coverage and less personal service. I urge anyone considering the on-line or direct call insurance option to always consult with their current insurance agent or broker, before making a change. A savings of $80.00 dollars now,  may  seem enticing, but what if you knew this could cost you 100,000 in coverage in the event of a claim? I would surmise , your opinion on the savings would change.

The fine balance between coverage and premium is something you can ONLY achieve through a qualified agent or broker. This service does not cost anything additional and you as a consumer  deserve to sleep well at night knowing you are properly covered.

 

We have all heard about the dangers of identity theft. It is a crime that can go unseen and occur within seconds, but the ramifications could be felt throughout the rest of your life. Unfortunately, most people aren’t even aware that their identity has been stolen until it’s too late. Identity Theft may go undiscovered for weeks, months, or years, only to be revealed in the midst of buying a car, a home, applying for a loan, just to name a few. Basically, think of the time you’d least want to have financial troubles, and those are the times identity theft can come to light. However, there are ways in which we can protect ourselves. Following are 7 tips that we can all do to protect ourselves…..

1. Do not sign the back of your credit cards. Instead put “PHOTO ID REQUIRED.”

2. When you are writing checks to pay on your credit card Accounts, DO NOT put the complete account number on the “For” line. Instead, just put the last four numbers. This will prevent anyone who might handle your check from having unnecessary access to your account.

3. Put your work phone number on your checks instead of your home phone number. Also, use a PO Box address if applicable, and NEVER have your Social Security Number printed on your checks.

4. Make sure to keep a photocopy of all the important documents you keep in your wallet somewhere safe. Copy both sides of each license and credit card, as the back side is where all of the contact/reporting information is located. In case of an emergency you will be able to call and cancel all your credit cards, and will still be able to have proof of ID.

5. Keep the toll free numbers to your bank and credit cards handy so that you may inform your companies and have your cards cancelled IMMEDIATELY. The sooner you call, the more damage you can prevent.

6. File a police report IMMEDIATELY in the jurisdiction where your credit cards, etc, were stolen.

7. Call the 3 national credit reporting organizations IMMEDIATELY to place a fraud alert on your name. Also call the Social Security fraud line number. The alert means any company that checks your credit knows your information was stolen, and they have to contact you by phone to authorize new credit.

When it comes to reporting Identity Theft time is of the essence. The faster you report a stolen wallet, purse, or mail, the more likely you are to prevent or decrease the damage from occurring. Along with the phone numbers for your bank and credit card companies, you will also need the phone numbers for the 3 credit reporting agencies and the social security administration. For your convenience we have provided those numbers below.

1. Equifax: 1-800-525-6285
2. Experian: 1-888-397-3742
3. Trans Union: 1-800-680-7289
4. Social Security Administration (fraud line): 1-800-269-0271

Fall is fast approaching. Can’t you hear the sound of leaves crunching beneath you feet, as you make your way home after a long day at work? You pour yourself a cup of cocoa, snuggle up in your favorite comfy chair, and before you know it you hear the familiar jingle of your cat’s collar as she jumps up to join you in your relaxation. The sound of her soft purrs begins to drown out the sounds of your busy day, and your mind finally begins to relax.

Or maybe…

You make it home after your hectic day at the office, climb out of the car, and drag yourself into the house. As you walk in the door you are greeted by your 10 year son, 8 year old daughter, and your golden retriever. They beg you to go outside, and you have the privilege of ending your day playing ball with “the gang.”

Pets grow into our families, and become a part of them. They are a source of joy for all of us. But if we are not careful, they can also become a source of strife. The news is heavy with people who have raised aggressive dogs for their own personal gain. What happens when these animals have fulfilled their use? They end up in animal shelters, where families are looking to adopt a new member of the family. There are certain breeds that can be more dangerous than others; Pit Bulls, Rottweilers, English Bull Terriers, German Shepherds, Dobermans, and St. Bernard’s can all have aggressive tendencies. But more important than the breed is who owned the dog before and what was the dog’s purpose? These are questions that can’t always be answered at a human society or animal shelter. However, it is very important to understand the dog’s temperament before you commit to claiming it as part of your family. Watch the dog play with other people and dogs. Ask the workers who feed and walk it on a daily basis. Does it shy in a corner, or cuddle up to your feet looking for attention?

It is also important to protect your family and neighbors in the event your pet has a change in temperament. By securing liability insurance you can protect yourself from the unthinkable. As pet owners we are responsible for the actions of our pet. If your dog was to bite someone, destroy property, or knock over a biker, you will be held liable for the damage of property and health. It could only happen once, it could just be an accident, but the bottom line is that it could happen, and are you going to be prepared when it does? Statistics from the New York Times and Centers for Disease Control and Prevention state that, “each year, roughly 4.7 million people are bitten by dogs and about 800,000, half of them children, seek medical attention.” If you own pets, or are thinking of getting a pet, we highly recommend you talk with your local insurance agent to make sure your insurance company is aware you have a dog, and that you have the coverage you need in the event that your source of joy becomes your source of strife.

For those of you who are new to this site, or have visited before, we just want to say a big THANK YOU for checking out our blog. We created this blog to benefit our customers, as well as others, who had questions regarding insurance. Insurance can be intimidating and frustrating, but at Eagle Harbor Insurance it is our goal to help you understand your insurance, so you know what you are getting, and why it’s important. If you have an insurance question or topic that you think would interest others, please let us know. By posting those questions and answers on line, it is an interactive way to help other viewers who may have the same questions. Please feel free to email any questions or topics you would like to see on-line to tom@eagleharborinsurance.com. We truly appreciate your business!

Sincerely,

Andy, Tom, and Cynthia

Imagine if someone asked you the cost of a dinner out. There is no way you could give them an immediate answer. There are so many other factors in that decision. You couldn’t come up with an accurate answer without asking more questions. What type of restaurant would they like? What quality of food are they looking for? What kind of atmosphere do they prefer? Are they looking for something casual or fancy, hamburgers or steak? You could give them an answer without asking any questions, but there is no way to tell how accurate it would be. How would that person feel if you told them $10.00 thinking a simple cafe, and then they walked into a 5 star restaurant expecting a $10.00 meal, only to find it was $50.00 per person!

The same is true of pricing insurance. Many Insurance Companies are advertising that they can quote insurance without using personal information. It’s true any agency can give you a quote, but how accurate that quote will be is a different matter. In WashingtonState your insurance is rated based upon your insurance score. Social Security numbers are used to determine your insurance score. It is not a credit report. An insurance score shows your payment history and overall financial stability. People with higher insurance scores qualify for better markets, and receive better rates. If you receive a quote without giving your personal information there is no telling how accurate it may be, and when you do decide to purchase the insurance you are likely in for a big surprise. It may be a good surprise, and your insurance rate may actually go down, but it may also be a bad surprise, with your rates going much higher than you had anticipated. Insurance can be frustrating and costly on its own, but finding out it’s more than you were originally told is a whole different story.

At Eagle Harbor Insurance we will ask for your social security number, but that’s because we believe honesty is the best policy. At the same time we guarantee that your security is our number one priority. We are here to serve you, and provide you with all the information you need up front. You can trust that the quote you receive is as accurate as possible, and that means you can relax, knowing there will be no surprises when it comes time to pay the bill. We will do everything we can to find you the best insurance possible at the best price possible.

Summer is coming and we are all starting to prepare our families; switching out the winter wardrobes for summer, pulling out the sandals, and stocking up on sun block. When the weather turns warm the first thing we think of is how to get our families near any type of water; beaches, pools, lakes, oceans, and of course water parks. There are so many ways to enjoy cool water in warm weather. It’s the one activity that the entire family can enjoy together. But there’s one type of water that no one is interested in being around, and that is water damage in your home caused by the back up of sewers, drains, or sump-pumps. There’s nothing worse than coming home from a relaxing day at the beach only to find yourself ankle deep in sewer water. The damage caused by this type of back-up is extensive, and could include replacing carpets, floors, and even walls. The scary thing is that your homeowner’s coverage does not provide coverage for any type of water damage or sump-pump overflow. This means that if you do experience this type of damage, you will be the one footing the bill.

There is a very simple way to avoid this extra cost. By adding a Water Backup and Sump Pump Overflow Endorsement to your homeowner’s policy, you can prevent yourself from stepping into a very sticky situation. A Water Backup and Sump Pump Overflow Endorsement provides coverage for the back-up of internal drains in your home (including kitchens, bathrooms, sinks, tubs, and toilets), as well as coverage in the event your sump-pump overflows. This Endorsement costs between $15-50, and can provide you $5,000-15,000 dollars in coverage. This is a simple and easy way to protect yourself from the damage, stress, cost, and repairs of water damage inside your home.

Do you or your teenager earn a little extra spending money using your car - maybe delivering pizzas or other products? Many people don't realize that their Personal Auto policy won't cover vehicles when they're used to earn money, including making deliveries.

Be sure to check with your agent or broker to see whether you need a Commercial Auto policy to get the protection you need.

 - Article taken from Progressive Newsletter - Winter 2006

Here in the Northwest Earthquake Insurance is one of the most important types of Insurance to add to your Homeowner’s Policy...and yet it is also the most forgotten about. Thinking about Earthquake Insurance requires preparing for the worst, and yet as humans we tend to hold the mind set, “Oh that would never happen to me!” However, looking at where we are located here in Washington state we have to be aware that it very well could happen to us. The question we really need to ask ourselves is, “if it happened could I afford to replace my home?” Most of us would have to answer “No.” In light of this it is extremely important to have Earthquake Insurance.

Earthquake Insurance can be added as an endorsement to your existing policies, or it can be purchased as a stand-alone policy. There are certain underwriting guidelines when purchasing one of these policies. These guidelines are:

• What year was home built?
• Type of foundation?
• Type of construction; frame or masonry?
• Approximate distance to water?
• Is the home located on a steep bank?

Many insurance companies in the State of Washington no longer offer Earthquake Insurance. Consumers may not even be aware that their insurance company is no longer offering this coverage. It is important to call your current insurance company and specifically ask them if they carry Earthquake Insurance.

At Eagle Harbor Insurance we have several different markets that provide Earthquake Insurance, and we will work with you to find the type of coverage you need.

Talking to a friend in the local Starbuck’s the other day, the topic of insurance came up. The question she asked me was, “When it comes to insurance what’s the difference anyway?” Surprisingly enough I get asked that question all the time. And thinking back to when I myself was new to insurance, it’s one of the first questions I asked. I tried to think of a way to answer her question in the simplest of terms, and being in a Starbuck’s the first thing I thought of was coffee. If you live anywhere near Seattle you understand all about coffee. There are a thousand choices and options when it comes to your morning cup of joe. Mocha or latte? Non-fat or Whole? With Whip or Without? Syrup Flavor? Temperature? Tall or Venti? All coffee is not the same, and most of us have a particular establishment that we visit each morning on our way to work. It just doesn’t taste the same anywhere else. The same is true of insurance. Most people are surprised to find that there are many tiers and layers to insurance.

Take for example auto insurance. There are several coverage options you can add to your auto insurance policy that will provide you with a much deeper level of coverage. The first is Personal Injury Protection or PIP. This is an endorsement that costs very little, but will give you a huge level of coverage. Personal Injury Protection covers you in any type of road accident, if you get in a car accident, if you get hit as a pedestrian in a crosswalk, if you get hit on your bike. The beauty of PIP is that you are covered no matter who was at fault in an accident, and your coverage is immediate. It will pay for ambulance rides, the jaws of life, hospital expenses, rehabilitation therapy, as well as reimburse you for pay checks you missed by being unable to work during your recovery. PIP not only covers you, but everyone in the car with you.

The second coverage option is Uninsured Motorist Coverage. This coverage protects you if you get in an accident in which the at fault driver is not covered. Uninsured Motorist Coverage will cover all personal injury and property damage, up to your coverage limits, caused by the at fault driver if they are underinsured, or have no coverage at all. If the other driver is not insured, you could be paying the bill, unless your policy has Uninsured Motorist Coverage, at which point your insurance policy will cover it for you. These are two examples of endorsements that do not cost very much to add to your policy, but could save you a world of hurt in the future.

All insurance policies are not the same. There are different types and levels of coverage, as well as many extra endorsements that are optional as well. If you are new to insurance, or find it a bit confusing it is easy to think that all insurance is the same. If that is you’re line of thinking, then the first thing you would look for when choosing an insurance policy is the price. But it’s just not the case. When it comes to coffee the last thing we think of is the price, and the first thing we think of is the flavor. With insurance you want to make sure that you choose the plan that best fits your life-style. And if you find a good local independent insurance agent that will help you through the insurance process you’ll find that insurance just doesn’t “taste the same” anywhere else. Why use an agent who treats you like another number, puts you on hold, and doesn’t remember who you are. Things like that can leave a bad taste in your mouth. It’s important to use an agent you can trust who will be there to help you when those unexpected emergencies occur, who knows your name and your individual situation and will sit down and explain your policy options in detail, who will help you find the plan that best fits your lifestyle, and who most importantly doesn’t care about selling you an insurance plan, but instead cares about making sure you are protected and taken care of for the future.

Price is important when looking for insurance, but it is not the first thing you should look at. The most important thing is to find the insurance coverage that will best protect you, and then from there find the best deal you can.