Murphy Insurance News & Articlestopics of interest to youhttps://www.dfmurphy.com/resources/News-Articles.aspx10 questions to help assess changing insurance needshttps://www.dfmurphy.com/resources/News-Articles/PostId/671/10-questions-to-help-assess-changing-insurance-needs.aspxpersonal insuranceWed, 06 Mar 2024 18:45:00 GMT<h3 id="page-title">Family, Home, Career Status Should Be Reflected In Your Policy Coverage</h3> <p>Our insurance needs change as circumstances in our lives change, which is why we recommend doing an annual insurance review. When you’re reviewing your insurance coverage, these ten questions can help you figure out whether you may need to talk to your insurance professional about making a change to your coverage.</p> <h4><img alt="questions" src="/Portals/0/questions.jpg?ver=2020-03-17-142908-213" style="margin: 10px 25px; float: left; width: 300px; height: 160px;" />1. Have you gotten married or divorced?</h4> <p>If you have gotten married, you may qualify for a discount on your <strong>auto insurance</strong>. Couples may bring two cars into the relationship and two different auto insurance companies, so take the opportunity to review your existing coverage and see which company offers the best combination of price and service.</p> <p>If you are merging two households, you may need to update your <strong>homeowners insurance</strong>. And you may want to consider increasing your insurance for any new valuables received, such as wedding gifts, and for jewelry, such as wedding and engagement rings.</p> <p>After getting married, it is important to review your <strong>life insurance needs</strong>. If one spouse is not working, he or she might be dependent on the working spouse’s income; if so, reviewing life and disability insurance coverage is prudent. The spouse who is not working outside the home should also consider having a separate life insurance policy because, in the event of premature death, the services he or she provides for the household would need to be replaced, and that could prove costly to the surviving spouse. Moreover, even if both spouses are working, couples often make financial commitments based on both incomes so the loss of one spouse’s income due to death or disability could be financially devastating without adequate insurance.</p> <p>In the other hand, if you got divorced over the past year, you will probably no longer be sharing a car with your former spouse and have likely moved to a different residence. If this is the case, you should inform your insurer as you will need to set up separate auto and homeowners policies.</p> <h4>2. Have you had a baby?</h4> <p>If you have recently added a child to your family, whether by birth or adoption, it is important to review your <strong>life insurance</strong> and <strong>disability income</strong> protection.</p> <p>If you are planning for your life insurance to match your survivors’ expenses after your death, the new child will no doubt add to those expenses, requiring more life insurance to keep your family secure. If you plan to save for your child's college education, life insurance can assure completion of that plan. And if you keep your current life insurance policy, don’t forget to update the beneficiary designations to include the new child.</p> <h4>3. Did your teenager get a drivers license?</h4> <p>It is generally cheaper to add your teenagers to your<strong> auto insurance</strong> policy than for them to purchase their own. If they are going to be driving their own car, consider insuring it with your company so you can get a multi-car discount. And choose the car carefully—the type of car a young person drives can dramatically affect the price of insurance. You and your teens should choose a car that is easy to drive and would offer protection in the event of a crash.</p> <p>Also, encourage your kids to get good grades and to take a driver training course. Most companies will give discounts for getting at least a “B” average in school and for taking recognized driving courses.</p> <p>If your teenagers move at least 100 miles from home—for example, to go to college—you can get a discount for the time they are not around to drive the car (assuming they leave the car at home). </p> <h4>4. Have you switched jobs or experienced a significant change in your income?</h4> <p>If you had <strong>life and disability insurance</strong> through your former employer, and your new employer does not provide equivalent protection, you can replace the “lost” coverage with individual policies.</p> <p>In the case of an income increase, you may have taken on additional financial commitments that your survivors will depend on. Make sure to review your life and disability insurance to ensure it is adequate to maintain those commitments.</p> <p>If your income decreased, you may want to cut your life insurance premiums. Term life insurance is a good option, as the premium rates are very reasonable. And if you already have two or more policies you might be able to replace both with a single policy at a lower rate because you may reach a “milestone” amount of insurance. (For example, at many life insurance companies, $500,000 of insurance costs less than $450,000 because of the milestone discount.) But don’t drop existing life insurance until after you have a new policy in place.</p> <h4>5. Have you done extensive renovations on your home?</h4> <p>If you have made major improvements to your home, such as adding a new room, enclosing a porch or expanding a kitchen or bathroom, you risk being underinsured if you don’t report the changes to your insurance company. An increase in the value of the structure of the home may require an increase to your<strong> homeowners insurance</strong> coverage limits.</p> <p>And don’t overlook new structures outside of your home. If you built a gazebo, a new shed for your tools or installed a pool or hot tub, you should speak to your insurance professional.</p> <p>If, as part of a renovation, you purchase furniture, exercise equipment or electronics, you may need to increase the amount of insurance you have on your personal possessions. Keep receipts and add any new items to your home inventory. To create a personal home inventory, try the I.I.I.’s free <a href="http://www.knowyourstuff.org/">Know Your Stuff® Home Inventory</a><a href="http://www.knowyourstuff.org/" target="_blank"> Tool</a>.</p> <h4>6. Have you decided to buy a second home?</h4> <p>If you are searching for a vacation home or a second home you might retire to, make sure you research the availability and cost of <strong>homeowners insurance</strong> before you commit to the purchase.</p> <p>The very factors that make a vacation home seem ideal, whether it is a waterfront property or a mountain retreat, can often introduce risks that make it costly and difficult to insure, such as proximity to the coast and the likelihood that it will be vacant for long periods of time.</p> <p>In the event you have already bought a vacation home, don’t skimp on the insurance. The risk of theft or disaster is just as significant, if not more so, in a second home as in your primary residence.</p> <p>If your new property is close to the water, be sure to ask about <strong>flood insurance</strong>. Damage to your home or belongings resulting from flood is not covered under standard homeowners insurance policies. Flood insurance is available from the National Flood Insurance Program (NFIP), as well as some private insurers, and is generally sold though private agents and brokers. You can ask your insurance professional whether your home is at risk for flood, or enter your address on the <a href="http://www.floodsmart.gov/" target="_blank">NFIP website</a> to find out whether your home is in a flood zone. If you have a very valuable home, some homeowners insurers offer <strong>excess flood coverage</strong> over and above that provided by the NFIP policies.</p> <h4>7. Have you acquired any new valuables such as jewelry, electronic equipment, fine art, antiques?</h4> <p>A standard homeowners policy offers only limited coverage for highly valuable items. If you have made purchases or received gifts that exceed these limits, you should consider supplementing your policy with a <strong>floater </strong>or <strong>endorsement</strong>, a separate policy that provides additional insurance for your valuables and covers them for perils not included in your policy, such as accidental loss. Before purchasing a floater, the items covered must be professionally appraised. Keep receipts and add the new items to your home inventory.</p> <h4>8. Have you signed a lease on a house or apartment?</h4> <p>If you are renting a home, your landlord is responsible for insuring the structure of the building, but not for insuring your possessions—that is up to you. If you want to be covered against losses from theft and catastrophes such as fire, lightning and windstorm damage, renters insurance is a good investment. Like homeowners insurance,<strong> renters insurance</strong> includes <strong>liability</strong>, which covers your responsibility to other people injured at your home, or elsewhere, by you and pays legal defense costs if you are taken to court.</p> <p>Regardless of whether you are a renter or an owner, you will have the following options when it comes to insuring your possessions:</p> <ul> <li>Actual cash value pays to replace your home or possessions minus a deduction for depreciation.</li> <li>Replacement cost pays the cost of rebuilding or repairing your home or replacing your possessions without a deduction for depreciation. Replacement cost coverage is preferable and typically doesn't cost significantly more especially when you consider the additional value of the coverage.</li> </ul> <p><br /> Think carefully about what your financial position would be in the aftermath of a disaster, and make sure you have the type of policy that is right for you.</p> <h4>9. Have you joined a carpool?</h4> <p>If you are a frequent carpool driver, whether it is to work, or ferrying kids to school and other activities, your <strong>liability insurance</strong> should reflect the increased risk of additional passengers in the automobile. Check with your insurance professional to make sure your coverage is adequate.</p> <h4>10. Have you retired?</h4> <p>If you commuted regularly to your job, in retirement your mileage has likely plummeted. If so, you should report it to your auto insurer as it could significantly lower the cost of your <strong>auto insurance</strong> premiums. Furthermore, drivers over the age of 50-55 may get a discount, depending on the insurance company.</p> <p>Source: <a href="http://www.iii.org" target="_blank">Insurance Information Institute</a></p> 671Is your diamond ring covered?https://www.dfmurphy.com/resources/News-Articles/PostId/586/Is-your-diamond-ring-covered.aspxhome,personal insuranceWed, 07 Feb 2024 15:59:00 GMT<p><strong>Imagine how you’d feel if you looked down and saw the stone missing on your diamond ring?</strong> Would it be covered by your homeowners', condo owners' or renters' policy? Unless you have the ring "scheduled" on your policy, the answer is probably NO. </p> <p><img alt="" height="124" src="http://www.dfmurphy.com/Portals/0/Diamond%20Ring.jpg" width="150" />Most home/condo/renter policies provide coverage only in specific situations (named perils) listed on your policy, i.e. fire, theft, etc.  In the the above situation, the stone simply fell out and was accidentally lost, which is not a covered situation by most standard policies.</p> <p>Even if you're not worried about accidental loss and are comfortable with having coverage only for the name perils, you also need to consider that home/condo/renter policies generally limit coverage for jewelry losses in a theft situation to $1,000—$3,000 per incident depending on the policy. So, if your house is broken into and your jewelry is stolen you may not have coverage for the full value.</p> <p>The best way to insure valuable jewelry and other items is to have them "scheduled" on your home/condo/renter policy, which provides broader coverage. Scheduling expands covered loss situations as well as increases your theft dollar amount limit for the listed items.</p> <p>To discuss coverage options for your valuables and obtain a quote, take a moment to complete a <a href="https://www.dfmurphy.com/resources/Forms-Center/Scheduled-Item-Quote.aspx">scheduled valuables quote request</a>.</p> <p> </p> <p><span new="" roman="" style="font-family: " times=""><em>NOTE: The information provided here is a general description and should not be relied upon as being complete, correct or accurate for every situation. All coverage information is subject to policy provisions, endorsements and may be subject to your meeting underwriting qualifications. </em></span></p> 586Identity theft insurancehttps://www.dfmurphy.com/resources/News-Articles/PostId/654/Identity-theft-insurance.aspxGeneral,personal insuranceWed, 17 Jan 2024 15:55:00 GMT<div>Identity theft is the act of taking someone’s personal information and using it to impersonate a victim, steal from bank accounts, establish phony insurance policies, open unauthorized credit cards or obtain unauthorized bank loans. In some more elaborate schemes, criminals use the stolen personal information to get a job, rent a home or take out a mortgage in the victim’s name.</div> <div> </div> <div><img alt="identity theft" src="/Portals/0/laptopcard.jpg" style="width: 250px; height: 217px;" />Close to half of identity theft cases are the result of a lost or stolen wallet, checkbook, credit card or other physical document. But as online shopping becomes increasing popular, it can also pose an identity risk. </div> <div> </div> <div>Victims of identity theft are often left with lower credit scores and spend months or even years getting credit records corrected. They frequently have difficulty getting credit, obtaining loans and even finding employment. Victims of identity theft fraud often travel a long and frustrating road to recovery; depending on the severity of the identity theft fraud damage, the recovery process can take anywhere from a few weeks to several years.</div> <div> </div> <div>Most homeowners and renters policies provide coverage for theft of money or credit cards; however, the amount of coverage is limited (usually $200 in cash and $50 on credit cards). Once you have reported the loss or theft of your credit card to the issuing company, you are responsible for only $50 of unauthorized use.</div> <div> </div> <div>Some companies now include coverage for identity theft as part of their homeowners insurance policy. Check your policy to find out. Others sell it as either a stand-alone policy or as an endorsement to a homeowners or renters insurance policy which can run about $25-$50 annually. Identity theft insurance provides reimbursement to crime victims for the cost of restoring their identity and repairing credit reports. It generally covers expenses such as phone bills, lost wages, notary and certified mailing costs, and sometimes attorney fees (with the prior consent of the insurer). Some companies also offer restoration or resolution services that will guide you through the process of recovering your identity.</div> <div> </div> <div>Use of stolen credit card numbers is among the most common forms of identity theft, but some schemes use electronic means, including online scams like ‘phishing’, in which thieves use email inquiries purporting to be from financial or other online organizations, to obtain sensitive account information. Others might use more old-fashioned methods, such as ‘dumpster diving’—rooting around in people’s garbage to collect financial information.</div> <div> </div> <div>Many credit card companies are now using radio-frequency identification (RFID) chips in their credit cards instead of magnetic stripes. The advantage is quicker, more efficient transactions, especially those carried out at traditionally cash only retail outlets, such as fast-food restaurants or convenience stores. However radio frequency identification may make it possible, in some cases, for identity thieves to use a simple electronic device to capture the information. The scariest part is that it can happen right in your presence, without you even knowing it.</div> <div> <h3>Tips for Avoiding Identity Theft</h3> </div> <ul type="square"> <li><strong>Keep the amount of personal information in your purse or wallet to the bare minimum. </strong>Avoid carrying additional credit cards, your social security card or passport unless absolutely necessary.</li> <li><strong>Guard your credit card when making purchases. </strong>Shield your hand when using ATM machines or making long distance phone calls with phone cards. Don’t fall prey to “shoulder surfers” who may be nearby.</li> <li><strong>Always take credit card or ATM receipts. </strong>Don’t throw them into public trash containers, leave them on the counter or put them in your shopping bag where they can easily fall out or get stolen.</li> <li><strong>Do not give out personal information. </strong>Whether on the phone, through the mail or over the Internet, don’t give out any personal information unless you have initiated the contact or are sure you know who you are dealing with and that they have a secure line.</li> <li><strong>Proceed with caution when shopping online. </strong>Use only authenticated websites to conduct business online. Before submitting personal or financial information through a website, check for the locked padlock image on your browser’s status bar or look for "https://" (rather than<a href="http://www.iii.org/article/identity-theft-insurance">http://</a>) in your browser window. If you have any concerns about the authenticity of a Web page, contact the owner of the site to confirm the URL.</li> <li><strong>Be aware of phishing and pharming scams. </strong>In these scams, criminals use fake emails and websites to impersonate legitimate organizations. Exercise caution when opening emails and instant messages from unknown sources and never give out personal, financial or password related information via email.</li> <li><strong>Make sure you have firewall, anti-spyware and anti-virus programs installed on your computer. </strong>These programs should always be up to date.</li> <li><strong>Monitor your accounts.</strong> Don’t rely on your credit card company or bank to alert you of suspicious activity. Carefully monitor your bank and credit card statements to make sure all transactions are accurate. If you suspect a problem, contact your credit card company or bank immediately.</li> <li><strong>Order a copy of your credit report from each of the three major credit bureaus.</strong> A new law that took effect December 1, 2004, entitles you to one free credit report per year. Your credit report contains information on where you work and live, the credit accounts that have been opened in your name, how you pay your bills and whether you've been sued, arrested or filed for bankruptcy. Make sure it's accurate and includes only those activities you've authorized.</li> <li><strong>Place passwords on your credit card, bank and phone accounts. </strong>Avoid using easily available information like your mother's maiden name, your birth date, any part of your Social Security number or phone number, or any series of consecutive numbers. If you suspect a problem with your credit card, change your password.</li> <li><strong>Shred any documents containing personal information </strong>such as credit card numbers, bank statements, charge receipts or credit card applications, before disposing of them.</li> </ul> <p>In order to make it more difficult for identity thieves to open accounts in your name, you can also contact the fraud department of any of the three credit reporting agencies to place a fraud alert on your credit report—by law, the agency you contact is required to contact the other two agencies. The fraud alert tells creditors to contact you before opening any new accounts or making any changes to your existing accounts. The three major credit bureaus are <a href="http://www.equifax.com/">Equifax</a>, <a href="http://www.transunion.com/">TransUnion</a> and <a href="http://www.experian.com/">Experian</a>.</p> <div>If you are the victim of a crime, report it to the credit card company and police immediately. Ask for a copy of the police report. You will need it if you want to file an insurance claim or report the crime to the FTC for their assistance. Victims of identity fraud can contact the <a href="http://www.consumer.gov/idtheft">FTC</a> online or at 877-IDTHEFT.</div> <div> </div> <div> <h3>Additional Resources</h3> <p><a href="http://www.consumer.gov/idtheft">FEDERAL TRADE COMMISSION</a> (FTC)<br /> The FTC offers help to victims. File your case with the FTC Consumer Response Center. Include your police report number. Use the FTC uniform affidavit form.<br /> 877-ID-THEFT</p> </div> <p><a href="http://www.privacyrights.org/">PRIVACY RIGHTS CLEARINGHOUSE</a> (PRC)<br /> 619-298-3396<br />  </p> <h4>related links</h4> <p><a href="http://www.iii.org/fact-statistic/identity-theft-and-cybercrime">Fact & Statistic | Identity Theft and Cybercrime</a></p> <p> </p> <p>Source: <a href="http://www.iii.org">Insurance Information Institute</a></p> 654Reduce risk of winter related losseshttps://www.dfmurphy.com/resources/News-Articles/PostId/648/Reduce-risk-of-winter-related-losses.aspxhome,personal insuranceThu, 21 Dec 2023 14:31:00 GMT<p>Winter months often increase the risks of a variety of claim situations. Being proactive can help reduce the chances of having an accident or loss.</p> <ul> <li><strong>Cleanup snow and ice promptly to avoid liability.</strong> Property owners are liable for injuries that happen due to snow and ice build-up on their property...this includes the public sidewalk in front of your home or business. </li> <li><strong>Watch for ice dams and take prevention steps. </strong>Last year, New England’s severe winter resulted in record ice dam related claims. Takings steps of keeping gutters clean, adding insulation and ensuring proper airflow  in attics, and sealing heat leaks are key prevention measures. Removing  snow from your roof after a storm using a snow rake also helps in prevention. </li> <li><strong>Locate main water shut off and know how it works.</strong> If a pipe bursts, you need to quickly stop the water flow. Be sure other family members know this information, too!</li> <li><strong>Keep the thermostat set to the same temperature both day and night. </strong>The tactic of reducing the temp when not home can save energy and heating costs, but vulnerable pipes may freeze if you set it too low. Keep the house heated to a minimum of 65 degrees to help prevent pipes inside walls from freezing. In extreme cold, paying a little more for heat could avoid burst pipes.</li> <li><strong><strong style="line-height: 18px; font-family: Arial, Helvetica, sans-serif; font-size: 12px; font-style: normal; font-variant: normal;"></strong>Keep garage doors closed. </strong>If your garage is attached to your home, keeping the doors closed especially if there are water supply lines in the garage. Don't invite cold into your house.</li> <li><strong>Open hot and cold faucets enough to let them drip. </strong>Keeping the water moving will help prevent freezing and helps prevent pressure build up if pipes do freeze. Keep cabinet doors open to allow more warmth around pipes in vulnerable areas.</li> <li><strong>Install an emergency pressure release valve on your plumbing system</strong>, which can help prevent pipes from bursting.</li> <li><strong>Consider wrapping problem pipes with UL approved heat tape</strong> that has a built-in thermostat to prevent overheating. Follow instructions carefully to keep from causing a fire hazard. Don't make solving one problem cause another one.</li> <li><strong>Take action if you discover frozen pipes. </strong>Take measures to thaw them. Call a licensed plumber for assistance.</li> <li><strong>Consider installing systems that can alert you </strong>to heating system malfunctions and accumulations of water. Some systems even have remote notification capability.</li> <li><strong>Pay close attention to fireplaces, woodstoves and electric heaters. </strong>Make sure they are in proper working order. Close the fireplace flue when not in use.</li> <li><strong>Check smoke, fire and carbon monoxide detectors.</strong> If a fire or a heating system malfunctions, detectors can be the difference between life and death as well as help to minimize a loss by early detection.</li> <li><strong>Have a neighbor or friend check your house regularly </strong>if you are away. Finding a problem such as heating issue or frozen pipes early can help prevent or reduce damage.</li> </ul> <p><strong><strong><strong style="line-height: 18px; font-family: Arial, Helvetica, sans-serif; font-size: 12px; font-style: normal; font-variant: normal;"><img alt="Snow on roof" src="/Portals/0/icicleSM.jpg" style="font: 12px / 18px Arial, Helvetica, sans-serif; width: 250px; height: 188px; float: left;" title="Snow on roof" /></strong></strong></strong></p> <p>If you have a loss situation occur, <a href="/about-us/Locations-Hours.aspx">call Murphy Insurance</a> as soon as you can. An insurance adjuster doesn’t need to see a spill before you take action, but he/she will want to inspect any damage. Taking photos to document damage can be helpful.</p> 648Holiday party etiquette & serving alcoholhttps://www.dfmurphy.com/resources/News-Articles/PostId/567/Holiday-party-etiquette-serving-alcohol.aspxliability protection,personal insuranceThu, 07 Dec 2023 01:45:00 GMT<p> </p> <h3>A good host is a responsible host when it comes to serving alcohol</h3> <p>Parties and social gatherings are often a big part of the holiday season. But hosts who serve alcohol should take steps to limit their liquor liability and make sure they have the proper insurance, according to the Insurance Information Institute (I.I.I.).<br /> <br /> <img alt="alcoholic drink" src="/Portals/0/alcohol.jpg" style="width: 250px; height: 333px;" title="alcoholic drink" />Social host liability, the legal term for the criminal and civil responsibility of a person who furnishes liquor to a guest, can have a serious impact on party throwers. Social host liability, also known as “Dram Shop Liability” laws vary widely from state to state, but 43 states have them on the books. Most of these laws also offer an injured person, such as the victim of a drunk driver, a method to sue the person who served the alcohol. There are circumstances under these laws where criminal charges may also apply.<br /> <br /> “Because you can be held legally responsible for your guests’ actions after they leave your party, hosts need to be particularly careful,” said Loretta Worters, vice president of the I.I.I. “While a social host is not liable for injuries sustained by the drunken guest (as they are also negligent), the host can be held liable for third parties, and may even be liable for passengers of the guest who have been injured in their car.”<br /> <br /> Before planning a party in your home, it is important to speak with your insurance agent or company representative about your homeowners coverage and any exclusions, conditions or limitations your policy might have for this kind of risk. Homeowners insurance usually provides some liquor liability coverage, but it is typically limited to $100,000 to $300,000, depending on the policy, which might not be enough.<br /> <br /> Whether you are hanging out with a small group of friends for cocktails or throwing a big family bash, remember that a good host is a responsible host, and needs to take steps to ensure guests get home safely if they have been drinking.</p> <h3>How to protect yourself and your guests</h3> <p>If you plan to serve alcohol at a holiday party the I.I.I. offers the following tips to promote safe alcohol consumption and reduce your social host liability exposure:</p> <ul> <li><strong>Make sure you understand your state laws. </strong>Before sending out party invitations, familiarize yourself with your state’s social host liability laws. These laws vary widely from state to state. Some states do not impose any liability on social hosts. Others limit liability to injuries that occur on the host’s premises. Some extend the host’s liability to injuries that occur anywhere a guest who has consumed alcohol goes. Many states have laws that pertain specifically to furnishing alcohol to minors.</li> <li><strong>Consider venues other than your home for the party.</strong> Hosting your party at a restaurant or bar with a liquor license, rather than at your home, will help minimize liquor liability risks.</li> <li><strong>Hire a professional bartender.</strong> Most bartenders are trained to recognize signs of intoxication and are better able to limit consumption by partygoers.</li> <li><strong>Encourage guests to pick a designated driver</strong> who will refrain from drinking alcoholic beverages so that he or she can drive other guests home.</li> <li><strong>Be a responsible host/hostess.</strong> Limit your own alcohol intake so that you will be better able to judge your guests’ sobriety.</li> <li><strong>Offer non-alcoholic beverages and always serve food. </strong>Eating and drinking plenty of water, or other non-alcoholic beverages, can help counter the effects of alcohol.</li> <li><strong>Do not pressure guests to drink </strong>or rush to refill their glasses when empty. And never serve alcohol to guests who are visibly intoxicated.</li> <li><strong>Stop serving liquor toward the end of the evening. </strong>Switch to coffee, tea and soft drinks.</li> <li><strong>If guests drink too much or seem too tired to drive home, call a cab</strong>, arrange a ride with a sober guest or have them sleep at your home.</li> <li><strong>Encourage all your guests to wear seatbelts as they drive home. </strong>Studies show that seatbelts save lives.</li> </ul> <p>Source: <a href="http://www.iii.org/" target="_blank">Insurance Information Institute</a></p> 567Christmas Tree safety tipshttps://www.dfmurphy.com/resources/News-Articles/PostId/584/Christmas-Tree-safety-tips.aspxpersonal insuranceWed, 29 Nov 2023 14:00:00 GMT<p>Christmas trees are a beautiful holiday decoration, but they can be dangerous, too. Even if you have an artificial tree, there are hazards to avoid. The last thing anyone wants is to have their Christmas Celebration destroyed by fire. Here are some quick tips and precautions to follow for safety.</p> <h2>Picking your tree</h2> <ul> <li>Choose a tree that has fresh, green needles that don't fall off easily when touched. Be sure to shake the tree. If lots of needles fall... move on.</li> <li>Make sure artificial trees are labeled, certified, or identified as fire retardant.</li> </ul> <h2>Setting up your tree</h2> <ul> <li>Once you get your tree home, keep your tree in water until you are ready to set it up.</li> <li>Cut 1–2” from the base of the trunk before putting it in the stand. Add water immediately.</li> <li>Make sure the location of the tree in your home is away from heat sources such as fireplaces, radiators, heating vents, woodstoves, candles or light fixtures.</li> <li>Don't block exits.</li> </ul> <h2>Decorating and caring for your tree</h2> <ul> <li>Use either indoor or outdoor lights, but do not use both together.</li> <li>Check all strings of lights for worn wires, cracked sockets or broken bulbs. Replace any strings of lights that are damaged, don't try to fix them.</li> <li>Connect no more than three strands of mini string sets and a maximum of 50 bulbs for screw-in bulbs.</li> <li>Never light real candles to decorate your tree.</li> <li>Don't leave lights on when the tree is not attended. If something happens you need to be there to take quick action as trees can go up in a flash. <strong>ALWAYS turn off Christmas tree lights before leaving home or going to bed.</strong></li> <li>Water your tree EVERY DAY. Note: if the tree isn't drinking any water pay close attention to its condition.</li> </ul> <h2>After Christmas</h2> <ul> <li>When your tree begins dropping needles and seems dry, get rid of it. Dried-out trees are a fire danger and should not be left in the home, garage, or placed outside against the home.</li> <li>Never put tree branches or needles in a fireplace or wood burning stove. They burn in a flash that you can't control and sparks easily jump causing a house fire. They burn so hot that you could damage your firebox and chimney. Don't even try using it for kindling.</li> <li>Check with your local community to find a recycling program. </li> </ul> <p><em></em></p> <p><em></em></p> <p><strong><a href="http://www.youtube.com/watch?v=RNjO3wZDVlA" re_target="_blank" target="_blank">Check out this video on the difference of a fire involving a dry tree vs. a wet tree.</a></strong></p> <p> </p> <p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/RNjO3wZDVlA" width="560"></iframe></p> <p><em></em></p> <p><em>Source: </em><a href="http://www.nfpa.org/" re_target="_blank" target="_blank"><em>National Fire Protection Association</em></a><br />  </p> 584Thanksgiving kitchen safety tipshttps://www.dfmurphy.com/resources/News-Articles/PostId/582/Thanksgiving-kitchen-safety-tips.aspxhome,personal insuranceTue, 21 Nov 2023 12:18:00 GMT<p><img alt="Thanksgiving Safety Tips Murphy Insurance" src="/Portals/0/Thanksgiving%20Safety.jpg" style="width: 250px; height: 163px;" title="Thanksgiving Safety Tips Murphy Insurance" />Thanksgiving Day is a fun holiday that many of us look forward to all year. As you plan and prepare for your Thanksgiving feast, be sure to keep safety a focus, too.  With heightened activity in the kitchen and other entertaining going on in your home, you don't want to get distracted and have your holiday go up in smoke. </p> <p>The <a href="https://www.nfpa.org/Education-and-Research/Home-Fire-Safety/Thanksgiving?sc_lang=en&sc_site=Content#thanksgiving-resources" target="_blank">National Fire Protection Association</a> (NFPA) says <strong>Thanksgiving Day is the leading day for home cooking fires. </strong>In 2021, there were 1,160 fires on Thanksgiving, which is a 297% increase over the daily average.  <br />  </p> <h2>Kitchen Safety Tips</h2> <ul> <li>Always stay in the kitchen when you are frying, grilling, or broiling food so you can check it regularly. If you have to leave the kitchen for even a short period of time, turn off the stove.</li> <li>Stay in the home when cooking your turkey. Use a timer to remind you that you are cooking.</li> <li>Keep anything that can catch fire such as oven mitts, wooden utensils, food packaging, towels or curtains away from the stove top.</li> <li>Keep children away from the stove. The stove will be hot and kids should stay 3 feet away.</li> <li>Keep knives out of the reach of children.</li> <li>Make sure kids stay away from hot food and liquids. The steam or splash from vegetables, gravy or coffee could cause serious burns.</li> <li>Be sure electric cords from an electric knife, coffee maker, plate warmer or mixer are not dangling off the counter within easy reach of a child.</li> <li>Keep matches and utility lighters out of the reach of children — up high in a locked cabinet.</li> <li>Never leave children alone in a room with a lit candle.</li> <li>Keep the floor clear so you don’t trip over kids, toys, pocketbooks or bags.</li> <li>Make sure your smoke alarms are working. Test them by pushing the test button.</li> </ul> <h2>If things go wrong and you have a cooking fire…</h2> <ul> <li>Just get out! When you leave, close the door behind you to help contain the fire.Call 9-1-1 or the local emergency number from outside the home.</li> <li>If you try to fight the fire, be sure others are getting out and you have a clear path out of the home, and that someone has called the fire department.</li> <li>Keep a lid nearby when cooking to smother small grease fires. Smother the fire by sliding the lid over the pan and turn off the stove top. Leave the pan covered until it is completely cooled.</li> <li>For an oven fire, turn off the heat and keep the door closed</li> </ul> <p><em>Source: <a href="http://www.nfpa.org/" target="_blank">National Fire Protection Association</a></em></p> 582Turkey fryer safetyhttps://www.dfmurphy.com/resources/News-Articles/PostId/595/Turkey-fryer-safety.aspxhome,personal insuranceThu, 16 Nov 2023 19:42:00 GMT<p>The National Fire Protection Association (NFPA) discourages the use of outdoor gas-fueled turkey fryers that immerse the turkey in hot oil. These turkey fryers use a substantial quantity of cooking oil at high temperatures, and units currently available for home use pose a significant danger that hot oil will be released at some point during the cooking process. The use of turkey fryers by consumers can lead to devastating burns, other injuries and the destruction of property. NFPA urges those who prefer fried turkey to seek out professional establishments, such as grocery stores, specialty food retailers, and restaurants for the preparation of the dish, or consider a new type of "oil-less" turkey fryer."</p> <p><iframe frameborder="0" height="315" src="//www.youtube.com/embed/yObDuYTfudY" width="420"></iframe></p> <ul> <li>Hot oil may splash or spill at any point during the cooking process, when the fryer is jarred or tipped over, the turkey is placed in the fryer or removed, or the turkey is moved from the fryer to the table. Any contact between hot oil and skin could result in serious injury. Any contact between hot oil and nonmetallic materials could lead to serious damage.</li> <li>Fryers designed for outdoor use that have a stand are particularly vulnerable to upset or collapse, which can result in a major spill of hot oil. Newer countertop units using a solid base appear to reduce this particular risk. NFPA does not believe that consumer education alone can make the risks of either type of turkey fryer acceptably low because of the large quantities of hot oil involved and the speed and severity of burn likely to occur with contact.</li> <li>In deep frying, oil is heated to temperatures of 350 degrees Fahrenheit or more. Cooking oil is combustible, and if it is heated beyond its cooking temperature, its vapors can ignite. This is a fire danger separate from the burn danger inherent in the hot oil. Overheating can occur if temperature controls, which are designed to shut off the fryer if the oil overheats, are defective, or if the appliance has no temperature controls.</li> <li>Propane-fired turkey fryers are designed for outdoor use, particularly for Thanksgiving, by which time both rain and snow are common in many parts of the country. If rain or snow strikes exposed hot cooking oil, the result can be a splattering of the hot oil or a conversion of the rain or snow to steam, either of which can lead to burns. The frozen turkey may splatter hot oil, which could cause a serious injury.</li> <li>The approximately 5 gallons of oil in these devices introduce an additional level of hazard to deep fryer cooking, as does the size and weight of the turkey, which must be safely lowered into and raised out of the large quantity of hot oil. Many turkeys are purchased frozen, and they may not be fully thawed when cooking begins. As with a rainy day, a defrosting turkey creates the risk of contact between hot cooking oil.</li> <li>There is a new outdoor turkey cooking appliance that does not use oil. NFPA believes these should be considered as an alternative. NFPA understands that this appliance will be listed by a recognized testing laboratory.</li> </ul> <p>NFPA continues to believe that turkey fryers that use oil, as currently designed, are not suitable for acceptably safe use by even a well-informed and careful consumer. Consumers may find packaging of turkey fryers displaying independent product safety testing labels. NFPA is familiar with the details of these test standards and does not believe that they are sufficiently comprehensive regarding the different ways in which serious harm can occur, and, in some cases, regarding the different parts of the turkey fryer that need to be tested.</p> <p>Copyright © 2013 <a href="http://www.nfpa.org/" target="_blank">National Fire Protection Association</a> </p> <p>Copyright © <a href="http://ul.com/" target="_blank">Underwriters' Laboratories</a></p> 595Identity theft insurancehttps://www.dfmurphy.com/resources/News-Articles/PostId/675/Identity-theft-insurance.aspxpersonal insuranceWed, 11 Oct 2023 16:19:00 GMT<h3>Tips for protecting your identity and finances</h3> <p>Identity theft is the act of taking someone’s personal information and using it to impersonate a victim, steal from bank accounts, establish phony insurance policies, open unauthorized credit cards or obtain unauthorized bank loans. In some more elaborate schemes, criminals use the stolen personal information to get a job, rent a home or take out a mortgage in the victim’s name.</p> <p><img alt="identity theft insurance" src="/Portals/0/identity%20theft.jpg" style="width: 300px; height: 213px;" title="identity theft insurance" />Close to half of identity theft cases are the result of a lost or stolen wallet, checkbook, credit card or other physical document. But as online shopping becomes increasing popular, it can also pose an identity risk.</p> <p>Victims of identity theft are often left with lower credit scores and spend months or even years getting credit records corrected. They frequently have difficulty getting credit, obtaining loans and even finding employment. Victims of identity theft fraud often travel a long and frustrating road to recovery; depending on the severity of the identity theft fraud damage, the recovery process can take anywhere from a few weeks to several years.</p> <p>Most homeowners and renters policies provide coverage for theft of money or credit cards; however, the amount of coverage is limited (usually $200 in cash and $50 on credit cards). Once you have reported the loss or theft of your credit card to the issuing company, you are responsible for only $50 of unauthorized use.</p> <p>Some companies now include coverage for identity theft as part of their homeowners insurance policy. Check your policy to find out. Others sell it as either a stand-alone policy or as an endorsement to a homeowners or renters insurance policy which can run about $25-$50 annually. Identity theft insurance provides reimbursement to crime victims for the cost of restoring their identity and repairing credit reports. It generally covers expenses such as phone bills, lost wages, notary and certified mailing costs, and sometimes attorney fees (with the prior consent of the insurer). Some companies also offer restoration or resolution services that will guide you through the process of recovering your identity.</p> <p>Use of stolen credit card numbers is among the most common forms of identity theft, but some schemes use electronic means, including online scams like ‘phishing’, in which thieves use email inquiries purporting to be from financial or other online organizations, to obtain sensitive account information. Others might use more old-fashioned methods, such as ‘dumpster diving’—rooting around in people’s garbage to collect financial information.</p> <p>Many credit card companies are now using radio-frequency identification (RFID) chips in their credit cards instead of magnetic stripes. The advantage is quicker, more efficient transactions, especially those carried out at traditionally cash only retail outlets, such as fast-food restaurants or convenience stores. However radio frequency identification may make it possible, in some cases, for identity thieves to use a simple electronic device to capture the information. The scariest part is that it can happen right in your presence, without you even knowing it.</p> <h3>Tips for avoiding identity theft</h3> <ul> <li>Keep the amount of personal information in your purse or wallet to the bare minimum. Avoid carrying additional credit cards, your social security card or passport unless absolutely necessary.</li> <li>Guard your credit card when making purchases. Shield your hand when using ATM machines or making long distance phone calls with phone cards. Don’t fall prey to “shoulder surfers” who may be nearby.</li> <li>Always take credit card or ATM receipts. Don’t throw them into public trash containers, leave them on the counter or put them in your shopping bag where they can easily fall out or get stolen.</li> <li>Do not give out personal information. Whether on the phone, through the mail or over the Internet, don’t give out any personal information unless you have initiated the contact or are sure you know who you are dealing with and that they have a secure line.</li> <li>Proceed with caution when shopping online. Use only authenticated websites to conduct business online. Before submitting personal or financial information through a website, check for the locked padlock image on your browser’s status bar or look for "https://" (rather than "http://") in your browser window. If you have any concerns about the authenticity of a Web page, contact the owner of the site to confirm the URL.</li> <li>Be aware of phishing and pharming scams. In these scams, criminals use fake emails and websites to impersonate legitimate organizations. Exercise caution when opening emails and instant messages from unknown sources and never give out personal, financial or password related information via email.</li> <li>Make sure you have firewall, anti-spyware and anti-virus programs installed on your computer. These programs should always be up to date.</li> <li>Monitor your accounts. Don’t rely on your credit card company or bank to alert you of suspicious activity. Carefully monitor your bank and credit card statements to make sure all transactions are accurate. If you suspect a problem, contact your credit card company or bank immediately.</li> <li>Order a copy of your credit report from each of the three major credit bureaus. A new law that took effect December 1, 2004, entitles you to one free credit report per year. Your credit report contains information on where you work and live, the credit accounts that have been opened in your name, how you pay your bills and whether you've been sued, arrested or filed for bankruptcy. Make sure it's accurate and includes only those activities you've authorized.</li> <li>Place passwords on your credit card, bank and phone accounts. Avoid using easily available information like your mother's maiden name, your birth date, any part of your Social Security number or phone number, or any series of consecutive numbers. If you suspect a problem with your credit card, change your password.</li> <li>Shred any documents containing personal information such as credit card numbers, bank statements, charge receipts or credit card applications, before disposing of them.</li> </ul> <p>In order to make it more difficult for identity thieves to open accounts in your name, you can also contact the fraud department of any of the three credit reporting agencies to place a fraud alert on your credit report—by law, the agency you contact is required to contact the other two agencies. The fraud alert tells creditors to contact you before opening any new accounts or making any changes to your existing accounts. The three major credit bureaus are <a href="https://www.equifax.com/personal/" target="_blank">Equifax</a>, <a href="https://www.transunion.com/" target="_blank">TransUnion</a> and <a href="http://www.experian.com/" target="_blank">Experian</a>.</p> <p>If you are the victim of a crime, report it to the credit card company and police immediately. Ask for a copy of the police report. You will need it if you want to file an insurance claim or report the crime to the FTC for their assistance. Victims of identity fraud can contact the FTC online or at 877-IDTHEFT.</p> <p>Most homeowner, condominium owner and renter insurance policies offer identity theft coverage as an optional endorsement. If you'd like more information, please <a href="https://www.dfmurphy.com/resources/Forms-Center/Contact-Us.aspx">contact us</a>.</p> <h4>Additional resources</h4> <ul> <li><a href="http://www.consumer.gov/idtheft">Federal Trade Commission</a> (FTC) - The FTC offers help to victims. File your case with the FTC Consumer Response Center. Include your police report number. Use the FTC uniform affidavit form. 877-ID-THEFT</li> <li><a href="https://www.ic3.gov/">FBI Internet Crime Complaint Center</a></li> <li><a href="https://www.justice.gov/criminal-fraud/identity-theft/identity-theft-and-identity-fraud" target="_blank">U.S. Department of Justice</a></li> <li><a href="http://www.privacyrights.org/">Privacy Rights Clearinghouse</a> (PRC) - 619-298-3396</li> </ul> <p>Source: <a href="http://www.iii.org" target="_blank">Insurance Information Institute</a></p> 675U.S. auto insurer claim payouts soar due to increasing inflationhttps://www.dfmurphy.com/resources/News-Articles/PostId/919/us-auto-insurer-claim-payouts-soar-due-to-increasing-inflation.aspxbusiness insurance,personal insuranceThu, 28 Sep 2023 16:09:05 GMT<p>U.S. personal and commercial auto insurer liability claim payouts combined were $96 billion to $105 billion higher between 2013 and 2022 because of social and economic inflation, according to a new <a href="https://www.iii.org/">Insurance Information Institute</a> (Triple-I) study.</p> <p>“For personal auto liability insurance, increasing inflation drove loss and DCC (defense containment costs) higher by $61 billion,” the study, <a href="https://www.iii.org/sites/default/files/docs/pdf/triple-i_auto_inflation_trends_2023.pdf">Impact of Increasing Inflation on Personal and Commercial Auto Liability Insurance</a> stated. “For the same period (2013-2022), increasing inflation drove commercial auto liability loss and DCC higher by $35 to $44 billion.”</p> <p><img alt="business people" src="/Portals/0/business-people.jpg?ver=3CCrGThDSx3w_vtCXRnLwg%3d%3d" style="width: 300px; height: 212px; float: left;" />Liability insurance covers what the policyholder is legally obligated to pay because of bodily injury or property damage caused to another person, or persons. Every U.S. state except New Hampshire requires its drivers to purchase a personal auto insurance policy, with mandatory minimum amounts of liability coverage, as a condition of operating a motor vehicle. Commercial auto insurance liability policies are commonly bought by small businesses and corporations to cover trucks and other vehicles used for commercial purposes, such as limousines and taxis.</p> <p>The study was researched and written by Jim Lynch, FCAS, MAAA, Triple-I’s former chief actuary; Dave Moore, FCAS, MAAA, president, Moore Actuarial Consulting LLC; and Dale Porfilio, FCAS, MAAA, Triple-I’s chief insurance officer. The research methodology compares the latest loss development patterns to a baseline assumption without social inflation and with stable inflation rates.</p> <p>Economic inflation is measured in the study as the Consumer Price Index (CPI) – All Urban metric, a U.S. Bureau of Labor Statistics benchmark, whereas <a href="https://www.iii.org/article/social-inflation-hard-to-measure-important-to-understand">social inflation indicates</a> how insurer claim payouts exceed the CPI.</p> <p>“The business of personal auto liability insurance is also many times larger than commercial auto. Personal auto liability had $152.6 billion in net earned premiums in 2022, four times as much as commercial auto liability,” the study stated. Yet personal auto policyholders typically have $100,000 or less in liability coverage while a typical commercial policyholder has a coverage limit of $1 million, the study explained.</p> <p>Supported by detailed analyses of claims payouts dating back years, the study concluded that, for personal auto liability insurers:</p> <ul> <li>Losses have been growing faster than premiums in recent years</li> <li>Since Accident Year 2020, standardized losses rose 15 percent while standardized premium fell 13 percent</li> <li>Severity, the size of losses, increased dramatically after 2019</li> </ul> <p>The study concluded that commercial auto liability insurers saw:</p> <ul> <li>Losses grow faster than the overall economy</li> <li>Social inflation as a primary influence on these losses prior to 2021</li> <li>The average size of loss—claim severity—increase dramatically since 2020</li> </ul> <p><br /> “For both personal and commercial auto liability lines, social inflation was the main source of increasing inflation before 2021. For 2021 and later, increasing inflation came from a combination of economic inflation and social inflation,” the study said.</p> <p><em>Source: <a href="http://www.iii.org">www.iii.org</a></em></p> <p><span style="font-size:11pt"><span style="line-height:normal"><span style="font-family:Calibri,sans-serif"></span></span></span></p> <p><span style="font-size:11pt"><span style="line-height:normal"><span style="font-family:Calibri,sans-serif"></span></span></span></p> 919What's the difference between auto policy cancellation and nonrenewal?https://www.dfmurphy.com/resources/News-Articles/PostId/678/Whats-the-difference-between-auto-policy-cancellation-and-nonrenewal.aspxbusiness insurance,personal insuranceWed, 27 Sep 2023 15:27:00 GMT<p>There's a difference between an insurance company canceling a policy and choosing not to renew it. Learn why your insurance might not be renewed.</p> <h3>Auto insurance cancellation</h3> <p><img alt="cancelled" src="/Portals/0/cancelled.png?ver=2020-11-18-132454-987" style="width: 300px; height: 169px; float: right;" />Insurance companies cannot cancel a policy that has been in force for more than 60 days except when:</p> <ul> <li>You fail to pay the premium</li> <li>You have committed fraud or made serious misrepresentations on your application</li> <li>Your drivers license has been revoked or suspended.</li> </ul> <h3>Auto insurance non-renewal</h3> <p>Either you or your insurance company can decide not to renew the policy when it expires. Your insurance company must give you a certain number of days notice and explain the reason for not renewing before it drops your policy (the exact timeframes and rules will depend on the state in which you live).</p> <p>There are a number of reasons an insurance company may choose not to renew a policy, and it may have nothing to do with you personally. For example, your insurer may have decided to drop that particular type of insurance or to write fewer policies where you live.</p> <p>However, a nonrenewal can also be due to your record or your actions. Doing something to considerably raise the insurance company’s risk—like driving drunk—would be cause for non-renewal.</p> <p>If you've been told your policy is not being renewed and you want a further explanation or think the reason is unfair, call the insurance company’s consumer affairs division. If you don't get a satisfactory explanation, contact your state insurance department.</p> <p>Note that nonrenewal at one insurer doesn't necessarily mean you'll be charged a higher premium at another insurance company.</p> <p>Source: <a href="https://www.iii.org" target="_blank">Insurance Information Institute</a></p> 678Why Ordinance or Law Coverage can be important for home and business propertieshttps://www.dfmurphy.com/resources/News-Articles/PostId/869/why-you-need-ordinance-or-law-coverage-for-your-home-or-business-property.aspxbusiness insurance,personal insuranceThu, 21 Sep 2023 19:15:00 GMT<h2>Building code changes can create extra expenses not covered by standard insurance. Be sure you’re protected.</h2> <div>Do you know how your home or other property complies with current building codes if you had to rebuild after a fire or other loss? If not, you’re not alone; however, it’s a real concern that you need to consider.  Changes to building ordinances and laws can result in requirements to upgrade your building to new standards during reconstruction, which can result in extra expenses that may not be covered by a basic property insurance policy.  </div> <p><img alt="Ordiance or Law Coverage for building code changes" src="https://www.dfmurphy.com/Portals/0/regulations.jpg?ver=2019-10-31-140324-107" style="border-width: 0px; border-style: solid; width: 300px; height: 200px; margin-right: 25px; margin-left: 25px; float: left;" />The MA Board of Building Regulations and Standards is continually working on changes to the building codes related to construction and energy standards. These changes as well as other local ordinances can become an issue when it comes to rebuilding especially after a significant loss.</p> <h3>Ordiance or Law Insurance covers extra expense not covered by a basic policy</h3> <div>Insurance policies only cover rebuilding to the condition prior to a loss, not betterments and upgrades.  Even if you are diligent about making sure your property valuation and coverage limits are appropriate for replacement cost, most property policies only provide minimal coverage to address additional costs resulting from ordinance or law issues. To be protected, you need to purchase Ordinance or Law Insurance, which specifically covers such extra expenses including:</div> <ul> <li>Loss to the undamaged portion of the building</li> <li>Demolition and removal costs of undamaged portion of the building</li> <li>Increased costs of repair or reconstruction due to building code changes</li> </ul> <p>For example, your building is 50% damaged in a fire.  Your local building code may require that the undamaged portion of the building be demolished or that you update components of the undamaged structure to current building codes in order to rebuild. The demolition or upgrades to the undamaged portion of the building wouldn’t typically be covered by a standard policy, which only pays for repairs and replacement of the damaged portion of the building.  </p> <p>There are numerous other examples of situations where laws create extra expenses that will only be covered if you have the option of expanded Ordinance or Law Insurance added to your property policy. The age of your building may not be relevant, so don’t assume that just because your property was recently constructed, you don’t have to worry about ordinance or law situations. </p> <p>To learn more about Ordinance and Law Insurance, please contact your Murphy Insurance Agency representative.<br />  </p> 869Peak hurricane season is here...review your insurance coveragehttps://www.dfmurphy.com/resources/News-Articles/PostId/664/Peak-hurricane-season-is-heredont-delay-reviewing-insurance-coverage.aspxpersonal insuranceWed, 06 Sep 2023 19:27:00 GMT<p>Summer may be winding down, but historically, the worst part of hurricane season is just beginning. Fortunately, there are simple steps that you can take to protect your wallet, your property and even your life, according to the Insurance Information Institute (I.I.I.).</p> <p>September is the most common month for hurricanes making landfall in the U.S., followed by August and October, according to an <a href="http://www.aoml.noaa.gov/hrd/tcfaq/E17.html" target="_blank"><span style="color:#c0392b;">analysis</span></a> of weather data ranging from 1851 to 2011 by the National Oceanic and Atmospheric Administration.<img alt="hurricane season preparation" src="/Portals/0/hurricane%20map.jpg" style="width: 300px; height: 200px; float: right; margin-left: 25px; margin-right: 25px;" /></p> <p>“Eight of the most catastrophic and costly hurricanes in the United States occurred in September and October,” said Jeanne M. Salvatore, senior vice president and chief communications officer at the I.I.I. The other two both occurred at the very end of August, she noted.</p> <p>These five actions can help you stay ready for whatever the remainder of hurricane season has in store.</p> <ol> <li><strong>Review Your Insurance Coverage: </strong>Homeowners insurance provides financial protection against <a href="http://www.iii.org/article/making-sure-your-home-properly-covered-disaster" target="_blank"><span style="color:#c0392b;">disasters</span>.</a> It insures the home itself and the things you keep in it. Because homes get upgrades and possessions get added and replaced, your insurance must reflect these ever-changing improvements. Make sure you understand <a href="http://www.iii.org/article/which-disasters-are-covered-by-homeowners-insurance" target="_blank"><span style="color:#c0392b;">what is covered and what is not covered</span>.</a> You need to have enough insurance to rebuild your home and replace all of your personal belongings. Contact your insurance professional and ask questions. <a href="http://www.iii.org/article/understanding-your-insurance-deductible" target="_blank"><span style="color:#c0392b;">Understand your deductibles</span></a>. If you have a hurricane or windstorm deductible, make sure you understand how it works. “The time to review your insurance is before you need to file a claim,” said Salvatore. “You don’t want to find out after a disaster that you could have purchased additional coverage. For instance, many people should consider adding coverage <a href="http://www.iii.org/article/sewer-backup" target="_blank"><span style="color:#c0392b;">for backup of sewers and drains</span></a> or law and ordinance, which would pay to rebuild your home to current and more stringent building code standards.</li> <li><strong>Consider Flood Insurance:</strong> A standard homeowners insurance policy does not cover flood damage. Flood insurance is not only for those living in high-risk flood zones. More than 20 percent of flood insurance claims are paid to those living in low- to moderate-risk flood zones. While hurricanes do bring catastrophic flooding, rain can, too. As the current disastrous flooding in Louisiana demonstrates, heavy rain might also result in destructive and deadly flooding. Flood insurance is available from the <a href="http://www.floodsmart.gov/" target="_blank"><span style="color:#c0392b;">National Flood Insurance Program</span></a> (NFIP) or from a private insurance company. Excess flood insurance may also be obtained from private insurance companies if more coverage is needed than the limits available from the NFIP.</li> <li><strong>Conduct a Home Inventory: </strong>If a hurricane or tropical storm strikes your home, insurance companies may ask for an itemized list of what was damaged or destroyed. An up-to-date home inventory will make it much easier to file a claim. This also helps you purchase the right amount of coverage, and the documentation also may be required if you need to apply for aid after a disaster. </li> <li><strong>Make Your Home More Disaster Resistant.</strong> <a href="https://disastersafety.org/" target="_blank"><span style="color:#c0392b;">The Insurance Information Institute for Business and Home Safety</span></a> has information on things you can do to strengthen your home against a hurricane or other disaster.</li> <li><strong>Know Where You Will Go and What You Need to Take If You Have to Evacuate.</strong> Advanced planning can make things much easier if you need to leave your home. This is especially important if you have children, <a href="http://www.iii.org/article/including-your-pets-evacuation-and-disaster-planning" target="_blank"><span style="color:#c0392b;">pets</span>,</a> <a href="http://www.iii.org/article/disaster-planning-for-older-adults" target="_blank"><span style="color:#c0392b;">elderly relatives</span></a>, or anyone with special needs. </li> </ol> <p>It’s always a good time of year to talk to your insurance provider. </p> <p>Source: <a href="http://www.iii.org">Insurance Information Institute</a></p> <p><strong>Related Article:</strong></p> <p><a href="https://www.dfmurphy.com/personal-insurance/Home-Condo-Renter-Insurance/Creating-a-Home-Inventory.aspx" target="_blank">Creating a Home Inventory</a></p> 664Motorcycles are everywhere...share the roadhttps://www.dfmurphy.com/resources/News-Articles/PostId/655/Motorcycles-are-everywhereshare-the-road.aspxauto,personal insuranceWed, 17 May 2023 13:43:00 GMT<p><img alt="" src="/Portals/0/motorcycle-engine.jpg?ver=2020-06-08-151158-177" style="width: 300px; height: 203px; border-width: 0px; border-style: solid; margin-right: 20px; margin-left: 20px; float: left;" />In 2018, motorcycle rider deaths accounted for 14% of all motor vehicle crash deaths. While there was a 5% decrease in motorcycle deaths over the previous year, this was still a loss of 4,985 lives with the greatest frequency of occurrences happening in June, July & August. Based on miles traveled, the number of deaths on motorcycles, in 2017, was nearly 27 times the number in cars according to the National Highway Traffic Safety Administration.</p> <p>Safe riding practices and cooperation from all road users will help reduce the number of fatalities and injuries on our nation’s highways. But it’s especially important for motorists to understand the safety challenges faced by motorcyclists such as size and visibility, and motorcycle riding practices like downshifting and weaving to know how to anticipate and respond to them. By raising motorists’ awareness, both drivers and riders will be safer sharing the road.</p> <h3>tips for motorists</h3> <ul> <li>Research and state-level data has and continues to consistently identify motorists as being at-fault in over half of all multi-vehicle motorcycle-involved collisions.</li> <li>NHTSA-funded research has shown that people behind the wheels of passenger vehicles are distracted more than 50 percent of the time.  Road users should never drive, bike, or walk while distracted.  Doing so can result in tragic consequences for all on the road, including motorcyclists.</li> <li>It may seem inconsequential, but the improper use of a vehicle’s rear-view and side-view mirrors contributes to collisions, particularly with smaller vehicles like motorcycles.  With roughly 40 percent of a vehicle’s outer perimeter zones hidden by blind spots, improper adjustment or lack of use of one’s side-view mirrors can have dire consequences for motorcyclists.</li> <li>If you are turning at an intersection, and your view of oncoming traffic is partially obstructed, wait until you can see around the obstruction, sufficiently scan for all roadway users (pedestrians and motorcyclists included), and proceed with caution.  Slow your decision-making process down at intersections.</li> <li>One’s reaction time and ability to assess and respond to a potential collision, such as a lane change, is significantly hindered if there are large differences in speed among vehicles in traffic.  When approaching a congested roadway, being diligent in modifying your speed to match that of the cars in traffic can be a lifesaver, particularly for motorcyclists.</li> <li>Allow a motorcyclist a full lane width. Though it may seem as if there is enough room in a single lane for a motor vehicle and a motorcycle, looks can be deceiving. Share the road, but not the lane: a motorcyclist needs room to maneuver safely.  </li> <li>Because motorcycles are smaller than most vehicles, they can be difficult to see. Their size can also cause other drivers to misjudge their speed and distance.</li> <li>Size also counts against motorcycles when it comes to blind spots. Motorcyclists can be easily hidden in a vehicle’s blind spot. Always look for motorcycles by checking your mirrors and blind spots before switching to another lane of traffic.</li> <li>Always signal your intentions before changing lanes or merging with traffic. This allows motorcyclists to anticipate your movement and find a safe lane position.</li> <li>Don’t be fooled by a flashing turn signal on a motorcycle—it may not be self-canceling and the motorcyclist may have forgotten to turn it off. Wait to be sure the rider is going to turn before you proceed.</li> <li>Allow more follow distance – three or four seconds – when following a motorcycle; this gives the motorcycle rider more time to maneuver or stop in an emergency. Motorcycle riders may suddenly need to change speed or adjust lane position to avoid hazards such as potholes, gravel, wet or slippery surfaces, pavement seams, railroad crossings, and grooved pavement.</li> </ul> <h3>tips for motorcyclists</h3> <ul> <li>Wear a DOT-compliant helmet and use reflective tape and gear to be more visible. If you're in an accident, the best chances of protecting your brain is by wearing a helmet. </li> <li>Be sure your motorcycle helmet meets the U.S. Department of Transportation (DOT) Federal Motor Vehicle Safety Standard (FMVSS) 218. Look for the DOT symbol on the outside back of the helmet. While all motorcycle helmets sold in the US are required to meet the federal standard and have the DOT certification label, there are retailers that sell "novelty helmets” that do not meet safety standards and will not protect you in a crash. There are also fake DOT labels being sold to put on these unsafe helmets. Purchase from a reputable source.</li> <li>Never ride while impaired or distracted—it is not worth the risk of killing or injuring yourself or someone else. Plus, a DUI costs $10,000 on average, and can lead to jail time, loss of your driver’s license, and higher insurance rates.</li> </ul> 655Cyclist protection tipshttps://www.dfmurphy.com/resources/News-Articles/PostId/602/Cyclist-protection-tips.aspxauto,personal insuranceWed, 10 May 2023 13:43:00 GMT<p>As a cyclist, you've chosen a sports activity that puts you on the road with a lot of vehicles.  No one needs to tell you that drivers have a lot more physical protection than you do on your bike, and it's the cyclist who is most at risk of injury. In 2018, 857 cyclists died in motor vehicle accidents, which is the deadliest year in almost 30 years. (<a href="https://www.nhtsa.gov/road-safety/bicycle-safety" target="_blank">NHTSA</a>)  While you take every precaution to be safe on the road, there are many factors out of your control, and it's possible that something could happen.</p> <p>If you're involved in an accident, the impacts aren't just physical...they can also be financial.  Be sure that you and your loved ones are protected in case something happens. Below are several issues to consider in order to build a solid protection plan. If your current agent or company isn't suggesting such protection options then perhaps it's time to consider a new provider. </p> <h3><img alt="cyclist insurance" open="" sans="" src="http://www.dfmurphy.com/Portals/0/cyclist.jpg" style="height: 206px; width: 300px; margin-left: 25px; margin-right: 25px; float: left;" />auto insurance</h3> <div>Protection from underinsured & uninsured drivers.  Not all drivers carry the higher bodily injury coverage limits necessary to pay for injuries caused to others in a serious accident. There are also those who drive without insurance. If you are seriously injured by one of these uninsured or underinsured drivers, there is a way that you can buy protection for yourself through your own auto policy. We'd be glad to review this coverage with you. </div> <h3>liability insurance</h3> <div>What happens if you are at fault for injuring someone while on your bike? What if you have a blow out or something else causes you to lose control? You could injure another cyclist or swerve into traffic causing an accident as vehicles swerve to avoid you. As a result, you might be sued for injuries or damage to property.  You're not in your car so this is where your home/condo/renter and umbrella liability policies would protect you.  Do you have enough protection?  Do you have umbrella liability coverage?</div> <h3>disability</h3> <div>What happens if you're injured and can't work? Could you pay your bills for an extended period of time if you were injured and out of work? Disability insurance can help remove some of the financial struggle while you recuperate from an illness or injury. Even if you have some disability protection from your employer, it may not be the maximum coverage you could get. Let us help you evaluate your current protection and options. </div> <h3>life insurance</h3> <div>If the worst happened, you want to know that your loved ones would be okay financially. This is really hard to think about, but given the extra risk that you have compared to others who aren't cyclists, you need to make sure that you are prepared. Mortgage, income, household, education expenses,etc.. These are all things to consider in planning for the future of those you care about most. We can help you work through the planning evaluation and options for protection.</div> <p><strong>Time to review? We're glad to assist.</strong></p> <p>If any of the above has hit a nerve, Murphy Insurance would welcome the opportunity to assist you. We can review the policies you currently have to be sure that you're well protected. </p> <p>Use our <a href="http://www.dfmurphy.com/contactus">contact form</a> to let us know how we can help.  Or, if you have a specific request, use one of our <a href="http://www.dfmurphy.com/quote">quote forms</a>.</p> 602Spring cleaning for your insurance policies: update and eliminatehttps://www.dfmurphy.com/resources/News-Articles/PostId/621/Spring-cleaning-for-your-insurance-policies-update-and-eliminate.aspxpersonal insuranceWed, 12 Apr 2023 20:21:00 GMT<p>Spring may be the traditional time of year for cleaning out closets and drawers and organizing attics, but it is also a great time to review of your insurance coverages, according to the <a href="http://www.dfmurphy.com/news/articleType/SubmitNews/ArticleID/www.iii.org" target="_blank">Insurance Information Institute</a> (I.I.I.). </p> <div><br /> <img alt="insurance review" height="175" src="http://www.dfmurphy.com/Portals/0/cleaning.jpg" width="233" />“Just as it is important to look at your wardrobe, electronics and other personal items to see what needs to be tossed, fixed, updated or stored for the coming months, everyone should do a thorough evaluation of their insurance coverage at least once a year,” says Jeanne M. Salvatore, the I.I.I.’s SVP and Chief Communications Officer. “So why not make a policy review part of your spring cleaning ritual?”<br /> <br /> As your life changes so do your insurance needs. Instead of just dusting around the corners of your insurance policies this year, take the time to read them over and ask yourself the following key questions: <h3>1. Is my home covered for its full rebuilding cost? </h3> <br /> Review your policy to make sure that you have enough insurance to rebuild your home. If you have made major improvements to your home, such as adding a new room, enclosing a porch or expanding a kitchen or bathroom, you risk being underinsured if you don’t adjust your homeowners insurance coverage limits.<br /> <br /> And if you don’t yet have a separate flood insurance policy, now would be a great time to check whether your home is in a flood risk zone at <a href="https://www.floodsmart.gov/" target="_blank">Floodsmart.gov.</a><br /> <br /> For more information: How Much Homeowners Insurance Do I Need?; Does My Homeowners Insurance Cover Flooding? <h3>2. Do I have enough coverage for expensive items? </h3> Have you bought or received as a gift any valuable jewelry since you purchased/renewed your policy? And, when was the last time you had the items you owned appraised? Standard homeowners insurance has dollar limits for the theft of certain types of expensive items like jewelry, furs and silverware. This means that the insurer will only pay the amount specified in the policy—generally $1,000 to $2,000. To insure these items to their full dollar value, consider a special personal property endorsement or floater. This coverage includes “accidental disappearance,” meaning coverage if you simply lose that item—and there is no deductible.<br /> <br /> But remember that items can go up or down in value.  Floaters and endorsements are priced on the appraised value of an item or collection so have periodic reappraisals done to make sure you are purchasing only the amount of coverage you actually need.<br /> <br /> The best way to keep track of your belongings and make sure they are adequately insured is to create a home inventory—find out how here. <h3>3. Do I still need comprehensive/collision on my car?</h3> If you’re driving an older car that is worth less than $1,000—or less than 10 times the insurance premium—the optional coverages may no longer be cost effective. Consider saving money on your premium by dropping either comprehensive or collision. <h3>4. Do I have enough liability insurance to fully protect my assets? </h3> Standard homeowners and auto policies liability coverage, paying for judgments against you and your legal fees, up to a limit set in the policy. However, in our litigious society, you may want to have additional protection—that’s what an umbrella liability policy provides. An umbrella policy kicks in when you reach the limit on the underlying liability coverage in a homeowners, renters, condo or auto policy. If your assets have increased of late, you’ll have more to lose and may want to consider this extra layer of protection. <h3>5. What kind of vacation will I be taking this summer?</h3> If you are taking an expensive, pre-paid vacation or an active vacation such as biking or hiking in an exotic locale, travel insurance can help protect the financial investment in your vacation. <h3>6. Should I rent out my house during the vacation period?</h3> Whether you own a second home that you plan to lease to a tenant, or want to rent out your primary residence though an online service such as Airbnb, your first step should be to call your insurance professional. Depending on the rental scenario, your standard homeowners policy may not cover losses incurred while your home is rented out, and you may require a more specialized insurance policy.<br /> <br /> Most importantly, whether it’s winter, spring, summer or fall, plan a regular talk with your insurance professional so he or she can help you get the coverage you need. <p> </p> <p>Source: <a href="http://www.dfmurphy.com/news/articleType/www.iii.org" target="_blank"> Insurance Information Institute</a></p> </div> 621Is your watercraft protection underwater?https://www.dfmurphy.com/resources/News-Articles/PostId/651/Is-your-watercraft-protection-underwater.aspxpersonal insuranceTue, 09 Apr 2019 13:23:00 GMT<p>Spring is here. Before you know it, flowers and lawns will be blooming with beautiful and vivid colors. Springtime is also when boat enthusiasts often start to consider purchasing a sail boat or power boat. Many consumers, however, lack an understanding of the myriad and multi-faceted loss exposures associated with boat ownership. And boat lovers may mistakenly believe that coverage applies under their homeowners policy for these loss exposures.</p> <p><img alt="boat insurance" src="/Portals/0/boat%20dash%20lake.jpg" style="height: 200px; width: 300px;" title="boat insurance" />Most homeowners policies, however, only insure losses arising from certain low-valued or low-powered boats. Therefore, you should contact us before buying a boat to discuss the proper insurance protection for it. You do not want to be &quot;underwater&quot; when it comes to the proper watercraft insurance. Consider the following tips to assist you in this process.</p> <p><strong>If you purchase a motor boat or sail boat valued over $1,500, you probably lack proper coverage under your homeowners policy for physical damage losses to the boat itself. </strong>A separate watercraft or boatowners policy is necessary to cover the physical damage to boats over this value.</p> <p><strong>If you are contemplating the purchase of a sail boat, inquire about its length. If the length is 26 feet or more, do not look to your homeowners policy for liability coverage. For motor boats, there are strict horsepower restrictions under the homeowners policy for liability coverage.</strong> For example, only insureds who own or lease boats with outboard motors of 25 horsepower or less have liability coverage under most homeowners policies, yet most power boats have motors with horsepower far exceeding this amount. This liability coverage restriction also necessitates the purchase of separate watercraft insurance.</p> <p><strong>Ask us about the types of boats you are considering. Some insurance companies, for example, decline to insure personal watercraft, such as jet skis and wave runners, since some of these crafts can reach speeds of 60 or 70 miles per hour. </strong>The U.S. Coast Guard reports that personal watercraft account for a disproportionately high number of accidents. Many insurance companies also refuse to cover houseboats, homemade or kit boats, competition bass boats, and speed boats. You may have to pay an extra premium through a specialty insurance company to insure these types of craft.</p> <p><strong>Be wary of purchasing older watercraft. Many insurance companies reject boats over 15 or 20 years of age because they tend to experience higher loss frequency than newer boats.</strong> You may have trouble finding insurance coverage for older boats or end up paying an extremely high premium.</p> <p><strong>If you do purchase an older boat, consider ordering a marine survey or inspection of it prior to the sale. </strong>This marine survey website may prove helpful. Marine surveys point out deficiencies in watercraft that may cause you to reconsider the purchase or renegotiate its price.</p> <p><strong>If you do not already have one, purchase a personal umbrella policy in addition to a watercraft policy</strong>, particularly if you buy a speed boat, a boat designed for water skiing, or some other craft with a higher potential to cause damage or loss of life. Umbrella policies are relatively inexpensive, and since most forms do not have limitations with respect to watercraft, they will provide excess limits above the liability coverage in the watercraft policy.</p> <p>In addition, the watercraft liability limits should meet the underlying limits requirements of any applicable personal umbrella policy. Lastly, use the same insurance company that writes your homeowners and personal auto policies for your personal umbrella policy. This approach will alleviate many potential issues in interaction between policies and coverage concerns.</p> <p><a href="http://www.irmi.com/default.aspx">International Risk Management Institute, Inc.</a>&nbsp;&nbsp;</p> 651Boating safetyhttps://www.dfmurphy.com/resources/News-Articles/PostId/521/Boating-safety.aspxpersonal insuranceTue, 29 May 2018 12:39:00 GMT<p><strong>Take a safe boating course </strong>&mdash; A great way to learn and refresh on safety, good habits, navigation rules and regulations. Taking courses can qualify you for discounts on your insurance.</p> <p><strong>Wear a life jacket </strong>&mdash; Have the required number of life jackets onboard and make your passengers wear them.</p> <p><strong>Check your equipment </strong>&mdash; Get your boat checked and make sure it&rsquo;s in top condition and free of fire hazards. Carry safety equipment required by law onboard.</p> <p><strong>Practice proper rules of the &ldquo;road&rdquo; </strong>&mdash; Know what to do when you approach another vessel. Maintain a safe speed. Be watchful.</p> <p><strong>Be aware of Carbon Monoxide</strong> &mdash; It can kill in minutes. Be aware of early warning symptoms of headache, nausea, weakness, etc.</p> <p><strong>Stay sober</strong> &mdash; Operating under the influence is dangerous &amp; illegal.</p> <p><strong>Know where you&rsquo;re going</strong> &mdash; Know your position and where you&rsquo;re headed. File a float plan before you leave with a relative or friend.</p> <p><strong>Pay attention to the weather </strong>&mdash; Check the weather before you go. Keep an eye out for changing conditions and act accordingly.</p> <p>For more information on boating safety, visit the <a href="https://www.mass.gov/service-details/boating-safety-course-schedule" target="_blank">Massachusetts Environmental Police website</a>. If you have a boat or are considering purchasing one, be sure to talk to us about insurance.<br /> &nbsp;</p> 521Settling insurance claims after a disasterhttps://www.dfmurphy.com/resources/News-Articles/PostId/665/Settling-insurance-claims-after-a-disaster.aspxpersonal insurance,business insuranceMon, 05 Mar 2018 16:19:00 GMT<h3>What you need to know about</h3> <ul> <li>how to file a claim</li> <li>how the claim process works</li> <li>what&#39;s covered and what&#39;s not</li> </ul> <h3>first steps</h3> <p><strong>Contact your agent or company immediately. Find out:</strong></p> <ul> <li>whether the damage is covered under the terms of your policy</li> <li>how long you have to file a claim</li> <li>whether your claim exceeds your deductible (the amount of loss you agree to pay before insurance kicks in)</li> <li>how long it will take to process the claim</li> <li>whether you&rsquo;ll need estimates for repairs</li> </ul> <p><strong><img alt="house disaster" src="/Portals/0/house-fire-disaster%20sm.jpg" style="width: 300px; height: 200px;" title="house disaster" />Make temporary repairs:</strong> Take reasonable steps to protect your property from further damage. Save receipts for what you spend and submit them to your insurance company for reimbursement. Remember that payments for temporary repairs are part of the total settlement. So if you pay a contractor a large sum for a temporary repair job, you may not have enough money for permanent repairs. Beware of contractors who ask for a large amount of money up front and contractors whose bids are very low -- they might cut corners and do shabby work. Don&#39;t make extensive permanent repairs until the claims adjuster has assessed the damage.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p><strong>If you need to relocate, keep your receipts:</strong> If you need to find other accommodations while your home is being repaired, keep records of your expenses. Homeowners insurance policies provide coverage for the cost of additional living expenses if your home is damaged by an insured disaster.</p> <p><strong>Prepare for the adjuster&#39;s visits:</strong> Your insurance company may send you a proof of loss form to complete or an adjuster may visit your home first. (An adjuster is a person professionally trained to assess the damage.) In either case, the more information you have about your damaged possessions -- a description of the item, approximate date of purchase and what it would cost to replace or repair -- the faster your claim generally can be settled.</p> <ul> <li>To substantiate your loss, prepare an inventory of damaged or destroyed items and give a copy to the adjuster along with copies of any receipts. Don&rsquo;t throw out damaged items until the adjuster has visited. You should also consider photographing or videotaping the damage. If your property was destroyed or you no longer have any records, work from memory.</li> <li>Identify structural damage to your home and other structures such as a garage, tool shed or in-ground swimming pool. Make a list of everything you want to show the adjuster, for example, cracks in the walls and missing roof tiles. You should also get the electrical system checked. Most insurance companies pay for these inspections.</li> <li>Get written bids from licensed contractors. The bids should include details of the materials to be used and prices on a line-by-line basis. This makes adjusting the claim faster and simpler.</li> <li>Keep copies of the lists and other documents you submit to your insurance company. Also keep copies of whatever paperwork your insurance company gives you and record the names and phone numbers of everyone you speak to.</li> </ul> <p>Flood damage is excluded under standard homeowners and renters insurance policies. Flood coverage, however, is available as a separate policy from the federal government&rsquo;s National Flood Insurance Program (NFIP) and from a few private insurers. The NFIP provides coverage up to $250,000 for the structure of the home and $100,000 for personal possessions. Flood insurance claims should be filed with your homeowners insurance company.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <h3>factors that determine the amount of settlement you get</h3> <h4>Type of policy</h4> <p><strong>Replacement Cost and Actual Cash Value:</strong> Replacement cost policies provides you with the dollar amount needed to replace a damaged item with one of similar kind and quality without deducting for depreciation (the decrease in value due to age, wear and tear, and other factors). Actual cash value policies pay the amount needed to replace the item minus depreciation.</p> <p>Suppose, for example, a tree fell through the roof onto your eight-year-old washing machine. With a replacement cost policy, the insurance company would pay to replace the old machine with a new one. If you had an actual cash value policy, the company would pay only a part of the cost of a new washing machine because a machine that has been used for eight years is worth less than its original cost.</p> <p><strong>Extended and Guaranteed Replacement Cost:</strong> If your home is damaged beyond repair, a typical homeowners policy will pay to replace it up to the limits of the policy. If the value of your insurance policy has kept up with increases in local building costs, a similar dwelling can generally be built for an amount within the policy limits.</p> <p>With an extended replacement cost policy your insurer will pay a certain percentage over the limit to rebuild your home -- 20 percent or more, depending on the insurer --- so that if building costs go up unexpectedly, you will have extra funds to cover the bill. A few insurance companies offer a guaranteed replacement cost policy that pays whatever it costs to rebuild your home as it was before the disaster. But neither type of policy will pay for more expensive materials than those that were used in the structure that was destroyed.</p> <p><strong>Mobile Home, Stated Amount:</strong> If you own a mobile home, you may have a stated amount policy. With this policy, the maximum amount you receive if your home is destroyed is the sum you agreed to when the policy was issued. If you opt for the stated amount, update your policy annually to make sure that the amount will cover the cost of replacing your mobile home. Check with local mobile home dealers to find out what similar homes now sell for.</p> <h4>Policy limits</h4> <p>Most insurance policies provide adequate coverage because they include an inflation-guard clause to keep up with increases in local building costs. If you have replacement cost coverage, your insurance company will pay the full cost of repairing or replacing the damaged structure with a building of &ldquo;like kind and quality.&quot; In other words, if you were adequately insured and lived in a three-bedroom ranch before the disaster, your insurance company would pay to build a similar three-bedroom ranch.</p> <p>Most insurance companies recommend that a dwelling be insured for 100 percent of replacement cost so that you have enough money to rebuild if your home is totally destroyed.</p> <p>You may not be fully covered, however, if you have made significant improvements on your house, such as enclosing a porch to create another room or expanding your kitchen, without informing your insurance company of the changes at the time.</p> <h4>Temporary living expenses</h4> <p>If you can&#39;t live in your home because of the damage, your insurance company will advance you money to pay for reasonable additional living expenses. The amount available to pay for such expenses is generally equal to 20 percent of the insurance on your home. This amount is in addition to the money for repairs or to rebuild your home. Some insurance companies pay more than 20 percent. Others limit additional living expenses to the amount spent during a certain period of time.</p> <p>Among the items typically covered are eating out, rent, telephone or utility installation costs in a temporary residence, and extra transportation costs. Insurance policies often discuss additional living expenses under the heading loss of use.</p> <h4>Rebuilding and making repairs</h4> <p>If your home was destroyed, you have several options.</p> <ul> <li>You can rebuild a new home on the same site.</li> <li>Depending on state law, you can sell the land and build or buy a house in a different place, even another state.</li> <li>You can decide that you would rather rent.</li> </ul> <p>If you decide not to rebuild, the settlement amount depends on state law, what the courts have said about this matter and the kind of policy you have. Find out from your insurance agent or company representative what the settlement amount will be based on.</p> <p>Concerning repairs, if you downgrade, for example, replace an expensive wood floor with one using a cheaper product, you are not entitled to the difference in cash.</p> <h4>Other factors</h4> <p><strong>Compliance with current building codes:</strong> Building codes require structures to be built to certain minimum standards. In areas likely to be hit by hurricanes, for example, buildings must be able to withstand high winds. If your home was damaged and it was not in compliance with current local building codes, you may have to rebuild the damaged sections according to current codes.</p> <p>In some cases, complying with the code may require a change in design or building materials and may cost more. Generally, homeowners insurance policies won&#39;t pay for these extra costs, but insurance companies offer an endorsement that pays a specified amount toward such changes. (An endorsement is an addition to an insurance policy that changes what the policy covers.) Information concerning this coverage is found under ordinance or law in the Section I exclusion part of your policy.</p> <p><strong>The use of public adjusters:</strong> Your insurance company provides an adjuster at no charge. You also may be contacted by adjusters who have no relationship with your insurance company and charge a fee for their services. They are known as public adjusters. If you decide to use a public adjuster to help you in settling your claim, this service could cost you as much as 15 percent of the total value of your settlement. Sometimes after a disaster, the percentage that public adjusters may charge is set by the insurance department. If you do decide to use a public adjuster, first check references and qualifications by contacting the Better Business Bureau and your state insurance department (See back cover for contact information). Also contact the National Association of Independent Insurance Adjusters (<a href="http://www.naiia.com/" target="blank">www.naiia.com</a>).</p> <h4>Compensation for Damage</h4> <p><strong>Vehicles: </strong>If your car was damaged and you have comprehensive coverage in your auto insurance policy, contact your auto insurance company. If your car has been so badly damaged that it&#39;s not worth repairing, you will receive a check for the car&#39;s actual cash value -- what it would have been worth if it had been sold just before the disaster. Kelley Blue Book (<a href="http://www.kbb.com/" target="blank">www.kbb.com</a>) or other such publications can give you an idea of what your car was worth.</p> <p><strong>Trees and shrubbery: </strong>Most insurance companies will pay up to $500 for the removal of trees or shrubs that have fallen on your home. They will also pay for damage caused to insured structures and their contents up to policy limits, but they won&#39;t pay to remove trees that have fallen causing a mess in your yard.</p> <p><strong>Water: </strong>While homeowners policies don&#39;t cover flood damage, they cover other kinds of water damage. For example, they will generally pay for damage from rain coming through a hole in the roof or a broken window as long as the hole was caused by a hurricane or other disaster covered by the policy. If there is water damage, check with your agent or insurance company representative as to whether it is covered.</p> <h4>The Payment Process</h4> <p>Disasters can make enormous demands on insurance company personnel. Sometimes after a major disaster, state officials ask insurance company adjusters to see everyone who has filed a claim before a certain date. When there are a huge number of claims, the deadline may force some to make a rough first estimate. If the first evaluation is not complete, set up an appointment for a second visit. The first check you get from your insurance company is often an advance. If you&#39;re offered an on-the-spot settlement, you can accept the check right away. Later on, if you find other damage, you can &ldquo;reopen&quot; the claim and file for an additional amount.</p> <p>Most policies require claims to be filed within one year from the date of the disaster.</p> <p>Some insurance companies may require you to fill out and sign a proof of loss form. This formal statement provides details of your losses and the amount of money you&#39;re claiming and acts as a legal record. Some companies waive this requirement after a disaster if you&#39;ve met with the adjuster, especially if your claim is not complicated.</p> <p>The choice of repair firms is yours. If your home was adequately insured, you won&#39;t have to settle for anything less than you had before the disaster. Be sure the contractor is giving you the same quality materials. Don&#39;t get permanent repairs done until after the adjuster has approved the price. If you&#39;ve received bids, show them to the adjuster. If the adjuster agrees with one of your bids, then the repair process can begin. If the bids are too high, ask the adjuster to negotiate a better price with the contractor. Adjusters may also recommend firms that they have worked with before. Some insurance companies even guarantee the work of firms they recommend, but such programs are not available everywhere. Make sure contactors get the proper building permits.</p> <p><strong>If you can&#39;t reach an agreement with your insurance company:</strong> If you and the insurer&rsquo;s adjuster can&#39;t agree on a settlement amount, contact your agent or your insurance company&#39;s claim department manager. Make sure you have figures to back up your claim for more money. If you and your insurance company still disagree, your policy allows for an independent appraisal of the loss. In this case, both you and your insurance company hire independent appraisers who choose a mediator. The decision of any two of these three people is binding. You and your insurance company each pay for your appraiser and share the other costs. However, disputes rarely get to this stage.</p> <p>Some insurance companies may offer a slightly different way of settling a dispute called arbitration. When settlement differences are arbitrated, a neutral arbiter hears the arguments of both sides and then makes a final decision.</p> <p><strong>How you receive the money:</strong> When both the dwelling and the contents of your home are damaged, you generally get two separate checks from your insurance company. If your home is mortgaged, the check for home repairs will generally be made out to you and the mortgage lender. As a condition of granting a mortgage, lenders usually require that they are named in the homeowners policy and that they are a party to any insurance payments related to the structure. The lender gets equal rights to the insurance check to ensure that the necessary repairs are made to the property in which it has a significant financial interest. This means that the mortgage company or bank will have to endorse the check. Lenders generally put the money in an escrow account and pay for the repairs as the work is completed.</p> <p>You should show the mortgage lender your contractor&#39;s bid and say how much the contractor wants up front to start the job. Your mortgage company may want to inspect the finished job before releasing the funds for payment. If you don&#39;t get a separate check from your insurance company for the contents of your home and other expenses, the lender should release the insurance payments that don&#39;t relate to the dwelling. It should also release funds that exceed the balance of the mortgage. State bank regulators often publish guidelines for banks to follow after a major disaster. Contact state regulatory offices to find out what these guidelines are.</p> <p>Some construction firms want you to sign a direction to pay form that allows your insurance company to pay the firm directly. The firm then will bill your insurance company directly and attach the form you signed. Make certain that you&#39;re completely satisfied with the repair work and that the job has been completed before signing any forms.</p> <p>If you have a replacement cost policy for your personal possessions, you normally need to replace the damaged items before your insurance company will pay. If you decide not to replace some items, you will be paid their actual cash value. Your insurance company will generally allow you several months from the date of the cash value payment to replace the items and collect full replacement cost. Find out how many months you are allowed. Some insurance companies supply lists of vendors that can help replace your property. Some companies may supply some replacement items themselves.</p> <p><strong>After your claim has been settled and the repair work is underway:</strong> Take the time to re-evaluate your homeowners insurance coverage. For example, was your home adequately insured? Did you have replacement cost coverage for your personal property? Talk to your insurance agent or company representative about possible changes.</p> <p>Consider taking a home inventory to make the claims process easier in the future. The Insurance Information Institute offers the&nbsp;free Know Your Stuff Home Inventory Tool. To learn more, visit&nbsp;<a href="http://www.knowyourstuff.org/" target="blank">www.KnowYourStuff.org</a>.</p> <p>Source: &nbsp;<a href="http://www.iii.org" target="_blank">Insurance Information Institute</a></p> <p><a href="https://www.dfmurphy.com/get-a-quote.aspx"><img alt="get a quote and compare" src="/Portals/0/compare%20quote.jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 154px;" title="get a quote and compare" /></a></p> <p>&nbsp;</p> 665Cover those personal injury loss exposureshttps://www.dfmurphy.com/resources/News-Articles/PostId/631/Cover-those-personal-injury-loss-exposures.aspxpersonal insurance,home,liability protectionWed, 13 Jul 2016 14:37:00 GMT<p>The homeowners policy liability section covers only &quot;bodily injury&quot; and &quot;property damage.&quot; Thus, any type of non-bodily injury such as personal injury is excluded without the attachment of a personal injury endorsement.&nbsp;</p> <p><img alt="personal liability" height="250" src="http://www.dfmurphy.com/Portals/0/cyber-bullying.jpg" width="250" />Examples of personal injury claims include wrongful eviction, wrongful entry, and oral or written publication that injures a party&#39;s reputation. This latter event is becoming particularly problematic with the rapid growth in social media. &nbsp;</p> <p>Here are some tips to help you carefully manage personal injury loss exposures:</p> <ul> <li>Exercise caution when posting on social media sites. Anything negative you share on the Internet is permanent. Avoid highly controversial subjects, sensitive political issues, or inflammatory remarks. Taking the high road is the best approach.</li> <li>If you are blogging or communicating on social media, be careful that you have your facts straight. If it is a close call or a gray area, why say it at all?&nbsp;</li> <li>Exercise caution in the case of product disparagement. There are lawyers and business owners who are willing to threaten lawsuits when it comes to negative comments about their products.&nbsp;</li> <li>Provide strict ground rules for your children on social media and closely monitor their activities. Keep the computer in a public part of the home in order to closely watch their activities. Screen who your children &quot;friend&quot; on Facebook. Place strict limits on the amount of time your children spend online. Provide age-appropriate and concrete explanations of <a href="http://www.wisegeek.org/what-is-the-difference-between-slander-and-libel.htm" target="_blank">libel</a>, <a href="http://www.wisegeek.org/what-is-the-difference-between-slander-and-libel.htm" target="_blank">slander</a>, <a href="http://familyinternet.about.com/od/computingsafetyprivacy/a/sexting_what.htm" target="_blank">sexting</a>, and their <a href="http://www.thebloggersbulletin.com/2009/11/28/legal-ramifications-defamation-law-libel-and-slander/" target="_blank">ramifications</a>.&nbsp;</li> <li>If you are on a not-for-profit board, such as a home owners&#39; association, exercise due care in dealing with others on sensitive matters. Be especially careful regarding newsletters that go out to the community.&nbsp;</li> <li>Procure a personal injury endorsement with sufficient limits to provide protection for a personal injury claim. But remember that this endorsement does not provide protection for business-related activities. Also, purchase a personal umbrella policy that provides higher liability limits for a variety of personal liability claims, including personal injury.&nbsp;</li> </ul> <div> <p class="TextAlignCenter"><span class="SmallText">Source:&nbsp;<a href="http://www.irmi.com/default.aspx">International Risk Management Institute, Inc.</a>&nbsp; Copyright 2015</span></p> </div> 631