Do I Need Full Coverage?

November 12, 2018 John Purroy Jackson

Full Coverage: The Heart-Eyes Emoji of Insurance

When you think of what auto insurance is supposed to do, you’re thinking of full coverage. The term “full coverage” refers to having both liability coverage and physical damage coverage on your vehicle. While I’ll get more into what those are in a moment, the gist of it is this: your state requires you to have insurance that covers damage that you cause to others in an accident, or liability coverage, while coverage to your own vehicle is physical damage (you usually hear it referred to as “comp and collision”). [Read more…]

It’s Time to Get Real About Flood Insurance

September 18, 2018 John Purroy Jackson

You’re in denial about Flood Insurance.

There, I said it. Flood insurance is the most overlooked policy for homeowners in the entire country. It is the biggest gap in coverage that we deal with on a daily basis, and could easily be resolved with one simple, affordable, government-backed policy. So why? Why don’t more people have flood insurance?

The answer is that we really are in denial. We have told ourselves that flooding is something we will never deal with, or that if we do have a substantial amount of water creep into our homes that our homeowners policy will cover it.

Neither are true. So let’s take off the blindfolds and get into the realities of flood insurance in the modern world. Because this is not just a problem for people near the coast.

Meanwhile, hundreds of miles inland.

Flooding is common – and becoming more so.

Water damage is the second most common type of claim for a home, beaten only by wind damage. If the damage comes from water already inside the house, or if it comes while it is falling, then it is covered by your homeowners policy. As soon as rain hits the ground, however, your homeowners coverage ends. Ground water, be it from a build up of rain, an overflowing body of water, or storm surge, is always considered to be flood damage. And it is not covered by your homeowners policy.

For those of us on the East Coast, we have seen over and over how hurricane damage is not limited to the coastline but can extend hundreds of miles inland, with flooding of roads, houses, and cars becoming a common occurrence. Not only that, but secondary issues caused by flooding, such as power outages and accidents, increase as well. But it doesn’t take a hurricane to cause a flood. We have all seen how rainy it has been the last few years, and with warmer oceans, increased rainfall and stormy weather look to be the new normal rather than an abnormality.

Picnic? I’ll take a rain check.

Far too few of us have Flood insurance.

Only about 10% of North Carolinian’s have flood insurance. That statistic plummets the farther away one gets from the coast. All of this despite the fact that North Carolina is one of the most likely states to be hit by a hurricane, and that it receives more flood claims that most other states. And, as we have seen, flood damage isn’t just from storm surge and rain collecting in flat lands. Rainfall that collects on the ground runs down to escape, finding lower areas like creeks, rivers and, you guessed it, basements. Another way that flooding hits inland communities is through local creeks and streams swelling well beyond their normal limits and finding their way into the yards, basements and even first floors of our ever expanding developments and cities.

Consider this: Winston-Salem, NC, with a population of just over 242,000, has fewer than 1,000 flood policies in force. And there are high flood risk areas in every single county. Using Winston-Salem again, huge areas around Peters Creek and Salem Creek are in high risk flood zones. Another surprising area is Reynolda Road, with many homes along this famous street being in an area that could see flooding. But even if you aren’t in a “high risk” area, flooding can happen with the right weather conditions, and in just about any season of the year – though it is much more likely in summer and early fall.

Check out the fantastic North Carolina Flood Risk Information System to find out high risk flood zones in your area. Most states have these maps, and even states that you wouldn’t expect have their fair share of resources. Pennsylvania, as another example, has an excellent flood website.

Maybe we should switch to water polo.

Flood insurance is more affordable than you think.

How are flood policy premiums determined? The basic breakdown is this: the What’s of the property (what size, what age, what type, what condition, etc) and the Where of the property (where is it, i.e. what flood zone is it in). The usual result is anywhere from a couple hundred dollars a year for a low risk property to around a thousand for a high risk property – but keep in mind these are estimates. Massive, oceanfront homes can be very pricey to cover, but in order to buy one you are usually required to have flood coverage. The higher the risk, the higher the premium, but the more you need it.

The good news is that most of us live in lower risk areas and can afford to buy flood insurance for a very reasonable amount a year. It really is a part of our risk portfolio that we can’t afford to ignore.

Didn’t we have a yard before?

Let’s be real – you need Flood insurance.

Let’s stop kidding ourselves. Flood insurance is something that any responsible homeowner needs in the modern world. Fill out the form below to find out how affordable flood insurance might be for your home. And if it keeps on raining, you’re going to need it.

Why Your Policy Doesn’t Cover Wear and Tear

August 30, 2018 John Purroy Jackson

Your Insurance Policy Does a Lot

Whether your policy covers your car, truck, house, apartment, boat, or motorcycle, it does a lot to protect you from a variety of bad things that can happen. Most policies cover you from natural events like fire, lightning, wind, vandalism, theft, and other nasty surprises. And that’s why we have insurance in the first place – if something does happen and your home catches on fire or your car is stolen, we don’t want to have to pay for the loss out of our own pocket. There are something that your policy does not cover, however. And one the we get asked about a lot is wear and tear.

Did you think this was covered?

What is wear and tear and why isn’t it covered?

According to Dictionary.com, wear and tear is, “damage or deterioration resulting from ordinary use; normal depreciation.” In other words, if you have a refrigerator, and after ten years of steady use it suddenly breaks down, that is wear and tear. Or if your eight year old vehicle needs the brake pads replaced after them becoming worn from use – that’s also wear and tear. Basically, if time takes its toll on something, and it begins to wear and break, that is exactly what we are talking about.

So you, the savvy and practical consumer, must be asking – why? Why isn’t that covered? Isn’t it damage to my home or car? Isn’t that why I have insurance in the first place? And the answer is – well, not really.

Insurance covers things that can happen to you suddenly. The phrase in the industry is “sudden and accidental,” and is usually referred to as pure risk or event risk. The risk has to be a risk without the possibility of financial gain – for example, gambling is a risk with a potential financial gain, and is therefor non-insurable (sorry Vegas lovers). It also must be something that happens in a single event, like a fire breaking out in your kitchen, a car hitting your vehicle at an intersection, or the loss of someone’s life. Insurance protects against these kinds of pure risk by taking on the risk for you for a fee, your premium. Essentially, you’re paying for someone to hold the risk for you if something bad happens.

Wear and tear is nothing like that. It happens over time, without one specific event. It is not a true risk because all mechanical devices and structures eventually erode and decay, especially without proper maintenance. This is a beautiful world we live in, but also a tough one, and forces like friction, decay and time can wear just about anything down.

It happens, but it isn’t what your insurance policy does.

Well, there is something that covers wear and tear.

You can get wear and tear covered. But it’s not insurance.

It’s called a Home Warranty. Various companies (not insurance companies) will agree to cover the eventual breakdown of home appliances, important home systems like your HVAC and electrical system, and some add-ons like pools and well pumps. These coverages are exactly for wear and tear, and not for the things your insurance policy covers. If your dish washer has a part break and stops working, your home warranty would cover that. If lightning strikes and shorts out your dishwasher, your insurance policy will cover it.

Also, keep in mind that your insurance agent usually does not sell home warranties. For pricing and service options, do some searching online to find companies that are right for you.

But you’re a savvy consumer, so you already know how to do that!

If you do need insurance help, fill out the form below and we can walk you through the coverage you have – or help you get those missing gaps in coverage, well, covered.

Why yes, you are.

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How to Perform an Insurance Review

August 23, 2018 John Purroy Jackson

An Insurance Review is Mandatory

But you probably already knew that. You’ve heard it from your agent until you, or more probably she, is blue in the face – you NEED an annual insurance review. But what does it cover? And what if you have already had one, but things in your life have changed and it may no longer be accurate? What is a responsible go-getter like yourself to do?

Why, perform your own insurance review, that’s what. Doing this before your annual review with your agent will have you super prepared, and doing it just for yourself might help you find gaps in coverage that were missed earlier – all before an accident makes it too late.

Ah, that freshly reviewed feeling.

Dude, why do I need a review?

An insurance review helps you in many ways, but the most obvious way is that it can reveal what I referred to earlier as “gaps” in your coverage. These are parts of your net worth that are not adequately protected from risk. An example would be minimum limits of insurance on a brand new BMW – one accident that is your fault and you could lose the entire car, and be on the hook for additional expenses if the car you hit is worth more than your limits. Another example is missing a coverage entirely, like an umbrella policy or life insurance. If you have a family and you don’t have life insurance, you are missing out on a tremendous opportunity to provide for your loved ones if something terrible happens to you – and it usually doesn’t cost that much at all, especially if you’re healthy.

Now that you have a good idea of why you need an insurance review, let’s look into how you can go about doing one yourself.

Life Insurance? I don’t have any risks.

Find the Holes in Your Armor

The first thing to do when reviewing your protections is to cover the basics: auto and home. You’d be amazed at how many people are underinsured when it comes to these necessary protections.

Start by checking your auto insurance, then compare that to the cost of your vehicles. If you were in an at-fault accident, and your policy wouldn’t cover the cost of your car or truck, that’s a big gap in coverage. Also check your liability coverage and compare that to the cost of a new luxury vehicle. If your policy wouldn’t cover you totaling a new car that you hit in an at-fault accident, you’d better get more coverage.

For your home or renters policy, the most basic question is do you have one? Shockingly, over 50% of all renters don’t even have coverage, meaning that they are one bad fire or break in away from losing everything. If you’re a homeowner, chances are you do have coverage, and your insurance agent should have ran a Replacement Cost Estimator, or RCE, on your property to make sure that it is insured for the correct amount. If you aren’t sure if they did, feel free to ask. The big thing for homeowners is liability and personal property. Check the amount of liability coverage you have and consider increasing it – ask your agent if you aren’t sure how much is enough.

And as for your personal property, make a list of what you own and find the high value items that may not be adequately covered under your homeowners or rental property. Jewelry, fine art, silverware, furs, firearms, these are but a few of the things that have small limits of coverage under your policy. Check with your agent to see if you need to add, or schedule, them to your homeowners or renters policy, of if they need a special policy all their own, called an inland marine policy.

And as for the rest…

Make a list of all of your other valuable possessions: motorcycles, boats, vacation properties, etc. If you can lose it in an accident, you should probably have coverage to protect it. And don’t forget the most valuable thing of all – your life and health. If you don’t have Life and Health insurance, then you are gambling with the last thing you would ever want to lose. Call and speak with an agent before your review and find out how reasonable these coverages can be and what they can do for you and your family.

Wow, I have more than I thought.

Now that you know, talk to your agent.

You’re probably surprised by what you’ve found. We understand – we hear how people had no idea they had gaps in their coverage every day. Now the only thing left to do is talk to your agent about what you’ve discovered. If you’re not sure who to talk to, try us. Helping people get adequate – no amazing – coverage for a reasonable price is literally what we do for a living.

Fill out the form below and ask us how we can help cover the gaps in your protection. You may be shocked at how easy and painless it is to be guarded against life’s worst moments.

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Moving: A Great Time to Review Your Insurance

August 17, 2018 John Purroy Jackson

When it comes to moving, most of us don’t think about insurance.

You’ve already got enough on your plate, including your plates; they’re in that box over there. So why would you want to worry about insurance on top of everything else? Well, it turns out that moving is the perfect time to review your insurance policies, and the reason is obvious. In fact, it’s laying all around you.

Moving is the time you go through everything you own – usually as it goes into a box. It is a time to reflect on what you have, what you need, and what you probably should have gotten rid of after college. But as you load your valuables into a flimsy cardboard box, you should probably start asking yourself – is this covered?

Is that painting covered under my homeowners policy?

Use moving as a time to reflect.

Packing all of your belongings and shoving them into a moving truck gives you an unrivaled opportunity to get a bird’s eye view of your life. You actually get an idea of just how many t-shirts you own, how heavy that real wood furniture you convinced your husband the house needed really is, and that you’ve been keeping your good jewelry in an unmarked box under be bed as “protection.”

So are you really protected?

If you’re moving, you have already spoken to your insurance agent about your new house and the policy you have. Even if you’re moving into an apartment, you should have talked with your agent about renter’s insurance and making sure everything you own in the entire world is covered. But packing gives you the chance to rethink the numbers you just went over with your agent – maybe you need more coverage? Or is the modern art painting your friend gave you last Christmas covered on your homeowners policy or does it need it’s own policy? What about your jewels? How much coverage exists for the fancy china you never use – because there is a limit on your homeowners policy.

Take the time to evaluate just how much you have, and how much you have to lose. Then call your agent.

As long as my couch is covered.

A new home is a new start.

Moving into a new place is a chance to do life differently. Not only are you waking up in a different place, you also have a chance to have a new perspective on life, not just a new view from your front window. While you’re reviewing your belongings, think about your vehicles – are they with the same company, giving you a package policy discount? Do you have an umbrella policy to protect you from lawsuits or other liability claims that could exceed the coverage on your new homeowners policy? And if you’re moving to accommodate your growing family, well, I don’t need to tell you to get Life insurance. But I will.

Get Life insurance.

Doing things you’ve been putting off forever and setting up new, good habits is a great way to utilize the opportunity that moving provides.

I think I’m going to take up painting.

Ask and ye shall receive.

If you’re not sure if your belongings are covered, or you don’t know how much coverage you already have – ask!

Our agents at Alliance Insurance are more than happy to go over your policy with you and walk you through what is covered and what isn’t. We can show you the gaps you may have and can offer solutions that make you better protected – no matter what happens. Fill out the form below and we’ll contact you for a quick, easy review.

And you thought you hated moving.

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Beginner’s Guide to Cyber Liability Insurance

July 24, 2018 John Purroy Jackson

Cyber Liability: Insurance for the Modern Digital World

Cyber is a word we hear all of the time in modern culture, but rarely in regards to insurance. Phrases like “cyber security,” “cyber attack,” and “cyber stalk” are everyday terms at the workplace, at home and online.

The simple fact of the matter is that we live in a time when the digital is just as much a part of our lives as the physical. So why would we only protect ourselves against physical risks, and not digital ones? Let’s talk about the newest cyber phrase: Cyber Liability insurance.

Got Protection?

How likely is a cyber attack?

Like most of us, you’re probably wondering just how likely it is that you or your business will be the victim of a cyber attack. Why worry about cyber liability insurance if you never use it? Unfortunately, the likelihood of you or someone you know experiencing an attack, or a hack, is very real.

According to Entrepreneur magazine and the FBI, there are over 4,000 ransomware attacks every day. This is only one kind of attack, where the data in your computer is held for ransom until you pay the hacker to give it back – and they are under no obligation to do so.

Other types of attacks include malware, phishing, password attacks, DoS, MITM, Dive-By Downloads, Malvertising and Rogue Software. These are only the most common attacks, not the only ones you are likely to face.

Check out these scary statistics:

There is a cyber attack every 39 seconds.
43% of attacks hit small businesses.
Over 3,000,000 records are stolen from breaches every day.

This is a funny email. Sure, I’ll click the link.

How bad is it to be attacked?

There are varying degrees of severity when it comes to a cyber attack, some of which are no more annoying than running your virus scanner. Others, however, can literally destroy your business.

According to one estimate, “the average cost of [a] cyber crime amounted to $21.22 million U.S. dollars in 2017.” Another says that the “average cost of a data breach in 2020 will exceed $150 million.”

Regardless of what the actual amounts might be, even a small business might suffer over a million dollars worth of damages from loss of data, lawsuits from customers who’s personal information has been stolen, costs for helping customers or businesses recover stolen data and identities, and any direct damages your business might suffer from data loss – including funds that are stolen outright.

But it said, “Download to speed up your computer.”

Cyber Liability: A Modern Necessity

In this climate of intense digital risk, a cyber liability policy is becoming an absolute necessity to be in business.

There is too much at stake to just assume that nothing will happen to you, and over-the-counter computer security can’t handle these new attacks – nor prevent an employee from having a careless moment that leaves you exposed.

Cyber liability coverage can help save you if an attack occurs, providing protection for:

Loss of Customers – Some customers may choose to not do business with you after an attack. Cyber Liability covers the loss of these customers, helping you stay afloat until they come around or a new customer takes their place.
Business Disruption – Your regular business operations can be greatly disrupted after an attack, resulting in a loss. This is covered under your cyber liability policy, making sure you can weather the storm.
Regulatory Fines – Depending on the attack, some regulatory bodies may decide to fine you for carelessness that lead to the attack. These losses are covered under a cyber liability policy as a protected risk.
Legal Costs – It is not uncommon to face lawsuits from former customers and business partners after an attack, especially if their data was stolen. This is one of the primary reasons that Cyber Liability insurance was created.
Public Relations – Suffering an attack can leave a black mark on your image of your business. Costs to have your good name restored is another great coverage under a Cyber Liability policy.
Direct Financial Loss – Theft of funds through digital means is often what most people think when they say cyber attack. Losses from cyber theft are covered under Cyber Liability protection.

I always use the same password to save time.

How can I get Cyber Liability coverage?

If you’re curious about Cyber Liability and want to protect your business of cyber attacks, contact us here at Alliance Insurance.

This is one of the most important coverages that a business owner can ever have, and we are passionate about helping protect the men and women who keep our economy going.

Fill out the form below and we’ll be happy to walk you through a quote. Or go to our contact page and ask us a question. We’re all ears.

EPLI: The Coverage Your Business Needs

July 18, 2018 John Purroy Jackson

What is EPLI?

So happy you asked! EPLI stands for Employment Practices Liability Insurance, and it’s probably the coverage your business needs but doesn’t have. EPLI protects business from lawsuits involving employees or former employees who feel they have been wronged by someone at the company. While we would like to imagine that this is a rare occurrence, the fact of the matter is that these lawsuits happen all the time.

60% of all companies have been sued by a former employee. That is a staggering figure that should put even the most confident of business owners on high alert. Out of those lawsuits, the most common type is an Employment Practices claim, not a property or General Liability claim! Any size business needs this coverage, but if you have even ten employees or more, it should be mandatory in order to adequately protect your company’s assets.

One of us will probably sue you.

What does it cover?

According to our partners at USLI, a good EPLI policy should contain:

A commitment to defend all claims even if they are later found to be groundless, false or fraudulent.
A responsibility to bear all defense costs above retention as well as not having defense costs erode limits of liability.
Coverage for FLSA (Fair Labor Standards Act) claims.
A “Defense and Settlement” provision.
A “Full Prior Acts” provision that covers (most) client actions that happened before the policy started.
Punitive damages should be included in loss.
Full Severability

The bottom line is that a proper EPLI policy should protect you from labor disputes, inappropriate behavior claims and other employer-employee disagreements while making sure there is coverage for settlements and other legal costs. That’s a lot of valuable protection for the most common lawsuit a business can face.

Search results for: labor attorney.

Part of your risk portfolio.

EPLI is an important addition to the collection of policies that protect your business. While most coverages that you have are contained in a Commercial Package Policy (CPP), there are other policies that are not part of a package. Employment Practices Liability is one of those, like Commercial Auto or Cyber Liability, that need to be added separately to make sure that you are completely covered.

Do I need EPLI?

How do I get EPLI?

The best way is to contact your agent, or one of ours here at Alliance. We love helping business with EPLI coverage, and recommend this vital protection for all of our businesses as a part of their risk management portfolio.

Fill out the form below and let us know if you need EPLI – and find out how reasonable it can be to make sure your business is safe from this common risk.

3 Secrets to Lower Auto Premium

July 10, 2018 John Purroy Jackson

How can I lower my auto premium?

It’s something we hear every day. There isn’t a person in America that doesn’t think they pay too much for auto insurance, and whether that is because they’ve heard it on television or because they probably ARE overpaying, most of us want to pay less for the coverage we have. So let’s look at some sure fire ways to reduce the amount we pay – today.

And there’s a bonus secret at the bottom of the page.

Secret #1 – Set up automated bank payments.

Say what? That matters?

It sure does. This is a simple, easy fix that just about anyone can do to get a discount on their car insurance. As I spoke about in my Package Policy blog and video, insurance companies love loyalty – and who doesn’t? Signing up to pay by EFT, bank draft, whatever you want to call it, tells the company that you will pay in full and on time every month, making you the perfect customer. Insurance companies reward such behavior because it is in their best interest to do so – and it is in your best interest too! So make sure you sign up for automated payments and give yourself an easy break on your auto premium.

This is also great because it helps prevent a lapse in coverage, which can really mess you up. A lapse can lead to higher premiums and fees to reinstate your policy.

Wait, did I pay my car insurance?

Secret #2 – Or just pay the whole thing at once.

You can do that?

You sure can, and paying your entire premium, or what we call Pay in Full, is a great discount for those able to take advantage of it. This discount exists for similar reasons to the automatic bank payment secret, as the ultimate way for your insurance company to know that you will pay on time is if you pay it all up front. Makes sense right? This method of saving on your auto premium is one that can be available to just about anyone for those can can plan for it. Even if you think you can’t afford to pay it all at once this year, sign up for automatic bank payments first, set aside money to pay your premium next year as you go, and then pay next year’s premium off at all at once when your policy renews.

We are all going to pay for the entire amount of premium anyway, so paying up front really isn’t that different from stretching it out. It is more of a mentality shift, as in the modern era we expect all things to be paid month-to-month. But trust me, when you find that you’ve saved $50-200 a year on your auto premium, you’ll be happy you planned accordingly.

I just cut out avocado toast for a month and paid my car insurance.

Secret #3 – Get a renters insurance policy.

I need another policy?

Well, yeah, you do. If you have a car you probably live somewhere, either in a house or in an apartment. Over 90% of homeowners have insurance for their home, so this goes mostly to my renters (though you homeowners really should combine your policies under one carrier for the same reasons I’ll get to in a sec). For those of you that don’t know, the best discount you can get is the multi-line discount, or a package/bundled policy discount. This is usually somewhere around 10% off of your auto premium, which is huge. And not only do you get this discount on your auto policy, you also get a discount on your other policies with the same carrier as well, such as a renters (or homeowners), personal umbrella policy, or anything else.

All of this is really a no-brainer for you renters out there, because with renters insurance being usually less than $200 a month, the discount can almost pay for itself! Depending on your situation, adding a renters policy can make your auto-renters combo a buy-one-get-one-free deal (but not guaranteed, so don’t quote me on that).

It’s cool – my shoes are covered under my renters policy.

It pays to pay and stay.

So the real secret? Pay the right way, get the right policies, and stay with the same company. If you pay with automatic bank transfer or in full, and if you have your personal belongings covered with the same company either through your home or renters policy, you save money on your auto premium. Period, end of story, all the time. It works. You should do it.

And one more way to save money is this:

Bonus Secret!

Stay with the same company! Most companies offer discounts for loyal members and will give breaks to customers that have been with them for three years or more. So if you are thinking about switching and you’ve been with a company for two years or so, call your agent and ask if you might be getting a discount soon for being so cool and loyal. The answer may surprise you.

If you find yourself wondering how you pay, or if you’ve decided to go ahead and get a renters policy, fill out the form below and let us know! We’d love to hear about how we can help you save time and money, all the while giving you a little more peace of mind.

Risky Business: How Insurance is like Investing

June 25, 2018 John Purroy Jackson

Aren’t they the opposite?

We typically think of investing and insurance as two completely different things. With investing, you put your money somewhere with the hope that it grows, giving you a return on what you put down. With insurance, you put your money somewhere to avoid paying more later if something bad happens. But they share one really important thing in common: risk.

Hey y’all, watch this.

Look at your portfolio: you’ve got all your bases covered, your investments are careful and diversified, protecting you from risk. You know how to protect yourself in the market and you watch your balance grow every year with satisfaction. Putting your eggs all in one basket means the possibility of losing everything, so intelligent investors will avoid this in order to minimize any potential fallout. Diversification is just many ways of avoiding risk. But minimizing risk – while maximizing return – is the name of the game.

So what about insurance? Do we look at our own lives the same way we look at our investments? Most of us do not, thinking that if we have our automobiles insured and our house covered then we are probably fine. But if we thought about insurance the same way we thought about investing, we would look at it quite differently. To start, let’s look at how exposed to risk we actually are.

How Exposed Are You?

You probably have your cars, trucks, and home covered from risk in the form of auto and homeowners insurance. But what about your boat? Your motorcycle? Do you have an umbrella policy to protect against liability risks like lawsuits and other unknown circumstances? If you’re a business owner, is your business insured? Do you have a Life insurance policy to protect your family from the worst possible scenario?

Each of these represent a risk that insurance has been created to cover. But most of us don’t have all of the policies to cover the entire “portfolio” of insurance risk. Not only that, but some of the policies we do have don’t cover everything we think they do.

My work-from-home business is covered by my house. Right?

So, if we looked at insurance the same way we look at investing, what would that look like?

Minimizing Insurance Risk.

Insurance works by transferring risk from the consumer to the insurance company. And to make sure we minimize as much risk as possible, we should have a policy that covers all of our exposures. Auto, Home, Boat, Motorcycle, Personal Umbrella, Life and Health are all pieces of a larger portfolio of insurance, policies that help you manage risk in your personal or business life. Another way of looking at it is to imagine that each policy is a piece of armor.

The complete Package Policy.

Your auto and homeowners insurance may cover your head and your heart, but what about the rest of the body? Each additional policy helps cover another part of you that is exposed to risk, resulting in complete protection that can help keep your family safe no matter what takes a swing at you.

Making sure that you’re completely covered is the main reason to insure all of your risks. But there’s another reason to have all of these policies, especially if they are with the same company.

Maximizing Return.

With investing, maximizing return is all about making the most money for the least amount invested. With insurance, it is about spending the least amount for the maximum coverage. Just paying as little as possible on your auto insurance isn’t always the best strategy – you never hear someone bragging about only paying the minimum into their 401k, do you? – having a small premium but only having minimum limits of coverage is often a terrible idea. Even a small accident can leave you owing money out of your own pocket.

What do you mean my $30 a month policy doesn’t cover this?

Instead, savvy consumers find value in a variety of discounts, none better than the multi-policy discount. Not only is this a big discount (usually around 10%) but it affects every policy you have with the same company, adding wave after wave of value. Making sure that you have your policies with the same carrier can help to give you a big boost when it comes to maximizing the most coverage for the least amount of premium.

Know Risk, Know Reward.

It turns out insurance is kind of like investing: risk plays a big part in both, and you want to make sure you maximize the value you get from what you pay into it. But in investing we try to minimize risk, while in insurance we try to transfer it to our insurance company.

If we ignore risk and leave a boat without a boat policy, jewelry that isn’t added to your homeowners policy, or a family that doesn’t have life insurance, we are simply rolling the dice in the game of life. Investors rarely take such reckless, cavalier attitudes with their money, so it is surprising that so many of us have this attitude with the things that matter the most in our lives.

How bad could it be?

Don’t gamble with your life. Call us, email us, or fill out the form below for an annual insurance review to find the missing gaps in your risk portfolio. Being proactive can save you from some massive unseen headaches in the future – and can probably save you some money to boot.

An Irreverent Guide to Motorcycle Safety

June 14, 2018 John Purroy Jackson

Motorcycle (safety) season is here.

The sun is out, the leaves are green, the water is warm – all reasons to get the bike out, wipe it down, and hit the road. Whether you ride all year or just for quick trips in great weather, now is the time to enjoy the experience that only your motorcycle and a great ride can give you. But, as insurance agents, we want to make sure you come back from the ride in one piece. So let’s talk about motorcycle safety.

I know, I know, no one wants to. But whether you are hitting the mountains for the Parkway, or heading downhill for a little get-together at the beach, or just going to the store for a loaf of bread, the chances of you having a great time are increased exponentially if you do it safely. And it’s more than just remember to fill up on gas – though you probably should. So let’s go over some of the basic things we can do to be safe on the road.

Sweet ride. Wish it had gas.

The Overhead View

How big of a deal is motorcycle safety? Look at it like this: motorcycles only make up 3% of vehicles that are on the road, but account for 13% of all people killed in traffic accidents. I’ll let that sink in for a minute. And it isn’t just young guys out being stupid that are getting hurt. 36% of motorcycle deaths were riders aged 50 and up. Add all that up and you have a small population of people that are on motorcycles, but they are much more likely to be hurt or killed in traffic accidents, no matter what their age.

Luckily, there are a few things we can do that help prevent us from ending up as a bad statistic. Starting with that thing that goes on your cranium.

Check Your Head

I’m sure everyone has told you this already. Your spouse has told you, your co-worker has told you, heck, even usually cool guy in your fantasy football league has told you: wear a helmet. But it isn’t just that everyone likes telling you what to do – but they totally do. No, there’s actually science and math that backs this all up, so lets get that. I promise, no nagging.

Here’s the basics according to the CDC: helmets reduce the risk of dying by 37%. They reduce the risk of head injury by 69%. The total economic cost of accidents without helmets is $1 Billion per year. Crazy right? Wearing a helmet is the cornerstone of motorcycle safety, and knowing how they work and how to care for them is super important. Also, never buy a used helmet – any impact such as a crash will use up the structural integrity of the helmet even if it looks the same. Helmets are useless after they have suffered such an impact, so don’t risk your own head to save a few bucks.

See Dan, I told you I wear a helmet! Now trade me Aaron Rodgers.

The Road More Traveled

Lot’s of riders think that regular or “surface” roads are safer than highways and freeways, but the math isn’t on their side. A whopping 91% of accidents between passenger vehicles and motorcyclists happened on country or urban roads, making highways astoundingly safe by comparison. And the most dangerous place on these streets for motorcycle safety? Intersections. One study found that more than half of all accidents involving a motorcycle occurred at an intersection. Take care not to speed through them, always stop at stop lights and signs, and pay particular attention to vehicles coming from behind you.

Does my beard count as protective clothing?

No Such Thing As Beginner’s Luck

When it comes to motorcycle safety, being a rookie isn’t a good thing. It takes more skill to handle these well-built machines out on the road than it does a car or truck, and the time to find that out is not the day you get your first Harley because you always thought they looked cool. Treat yourself and your motorcycle with the respect it deserves and take a safety course.

Wait, what? You’re too cool for school?

Well check this out: over 50% of motorcycle accidents involve a newbie with less than five months of riding experience. Pair that with the fact that over 80% of motorcycle accidents end up with someone being injured or killed, and you can see just how dangerous being a new rider can be. A new rider has a very good chance of being in an accident and hurt or even killed. Signing up for a course is a sure fire way to get experience and training before you hit the road. Some courses even have awesome tracks for you to test out and can teach skills that will put you ahead of your friends who are getting into the bike life with you.

A great resource for courses and what they are like is the Motorcycle Safety Foundation.

Good news: I can handle my ride now. Bad news: I’m lost.

Fishes Get Stitches

It goes without saying, but that has never stopped us before. DON’T DRINK AND RIDE. 43% of all fatal motorcycle accidents involved an inebriated rider. Getting on your bike after you have had a few is simply a throw of the dice, and you or your passenger could pay the price if you come up sevens. Or almost half of the other possible outcomes.

Another fact from the National Safety Council is about the type of motorcycle you ride. According to their research, from the Insurance Institute for Highway Safety, “‘supersport bikes’ have driver death rates about four times that of cruisers or standard bikes.” Take care in selecting the right bike for you, and if you do have one of the faster models, make sure you treat it with the care. Four times more likely to die is no laughing matter.

What’s with all the black and white photography?

Take It Easy

The main piece of advice here is to treat your motorcycle with respect. It is a vehicle that requires more skill and care than your average automobile or truck. So treat them right, take it easy, and make sure you don’t end up as a statistic to be quoted because you got careless.

There are monetary benefits as well to being a safe motorcyclist. A clean claims history can make a huge difference in your insurance premium, saving you hundreds of dollars a year. Additionally, higher risk bikes are more expensive to insure, so having a clean record will make a massive difference in you being able to afford taking your new pride and joy out on the road legally.

To find out how motorcycle safety helps you with your insurance rate, call or email us today. Or fill out the form below to speak with one of our agents ASAP.

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