I’ve Been Robbed – Now What Do I Do?

For most people, their home is their sanctuary. According to the Department of Justice, about 9.5% of homes in the US are broken into by thieves each year. Discovering that a thief has broken in and stolen from you can be very upsetting. Most people make the first call to the police. The second call should be to your insurance agent. This blog will discuss what you the claims process on your homeowners insurance should be like after a theft claim.

When you call your agent to file the claim, they may transfer you to the company claims department or they may take the claim information directly for you. Either way should be fine, we give our customers the choice. Generally speaking, if a company has a claim number that you can call, then your claim should proceed a bit faster as the agent will simply have to turn around and file the claim by fax, email or some other electronic system to the company claims department.

Here is a list of the information that your agent or claims processor will need from you.

· When did the loss occur?

· How did the thieves get into your home?

· Is your home currently secured?

· If not, what are you doing to secure the home now?

· What items were stolen?

· What authority or police department did you contact and have they made a report?

· What is the police report number?

· Did the police come out to the scene?

· What phone numbers are best for the company to contact you?

Ok, so what should you expect next? Well, you should expect that a claims adjuster will come out to your home and inspect the premises to better understand the claim. This is normal and your cooperation here will speed up the process. Also, the adjuster will want to take a recorded statement from you. This too is normal and to be expected as the claims adjuster needs to have a complete understanding, from your point of view, about exactly what happened at your home.

The insurance adjuster, and very often the police department, will require that you complete an inventory of the personal property that was stolen. This may seem difficult to do and you may need to amend this list as time goes on and you discover more items that are missing. One thing you can do in now, before you have a loss, is walk around your home with a video camera, opening cabinet doors and drawers and talking to the camera describing the property and when you got it and what you may have paid for it. This video can be very helpful later for remembering what you had so that you can better determine what might be missing.

Most homeowner policies have an endorsement providing replacement cost protection for the personal property that is covered. People are often surprised to learn that in most states this endorsement to the policy will not pay the replacement value unless and until you have actually replaced the item. Until you replace the item, the company will only pay the actual cash value which is determined by subtracting the depreciation for the age of the item from the replacement cost of the item. Knowing in advance how the replacement cost provision works for your personal property on your homeowners insurance can help you plan ahead.

At Clinard Insurance Group, in Winston Salem, NC, we want all insurance consumers to be informed buyers. If we can help you with your auto insurance, your home insurance or your life insurance or retirement planning, please feel free to call us, toll free at 877-687-7557 or visit us online at www.ClinardInsurance.com.

Your Homeowners Insurance Policy and Hail Damage To Your Roof – A Warning

It’s Spring here in beautiful North Carolina and with the flowers comes the sudden and violent thunderstorms that produce hail. This hail has the potential to damage your roof. The hail also creates an opportunity for unscrupulous companies to try and take advantage of you. This blog will put you on notice to their tricks and tell you how to avoid their scam.

If you have a standard homeowners policy in NC, then you will have protection for your losses if your roof is damaged by hail. These claims rarely run into any difficulties and we process them quite frequently this time of year. But lately, we have been warned by our company claims departments that there are some scammers out there creating a bit of misery for homeowners in our area.

Here’s how they operate. After a hail storm, these roofing contractors will visit your home and offer to inspect your roof for hail damage from the recent storm. They always find that your roof has been damaged and needs to be replaced. If there was no damage to begin with, they manufacture some evidence to convince you. Next they assure you that your loss is covered by your home insurance policy and they tell you that they work with your insurance company already and can go ahead and get started right away. This is important they say because water could enter your home during the next storm and then your damages are really going to sky rocket. In order to get you started right away, they have you sign a contract which obligates you to pay for their work. You can bet that their rates are much higher than the market will usually bear but they convince you to ignore pricing because the insurance company will pay for it anyway.

The problems that this causes for homeowners are twofold. First of all, in many cases, there is no real damage to the roof and when the insurance company gets out there to inspect the claim, they find that there is no hail damage and thus no protection from the homeowners insurance policy. This leaves the homeowner stuck with the bill to replace a roof that didn’t need replacement. The other problem is that even if there is damage and the roof did need replacing, the insurance company may not agree to pay for roofing rates that are above the market rates and this leaves the homeowner holding the bag on the balance of the contract costs.

So how do your protect yourself? It’s easy really. Just don’t sign any contracts for roofing repairs until you have filed the claim with your insurance company and an adjuster has been on your roof and inspected the damages and discussed them with you. Don’t rush into a contract with the roofing company that knocked on your door. Have a patient, careful discussion with the claims adjuster before you commit to anything.

At Clinard Insurance Group in Winston Salem, NC, we work hard to help all of our clients become informed and knowledgeable insurance consumers. If we can help you with your home insurance, your auto insurance, your business insurance or your life insurance needs, please call us, toll free, at 877-687-7557 or visit us on the web at www.ClinardInsurance.com.

The source information for this article can be found at www.insuranceanswerguy.com.

NC Homeowners Insurance Policy – Sewer Backup Insurance Is Changing

Many North Carolina homeowners will be losing coverage on their homeowners insurance policy over the next few months. Most won’t bother to read the fine print in their renewals so they won’t even know what they lost. Hopefully, for those of you astute enough to follow this blog, this won’t be the case.

What has changed in NC regarding the homeowners insurance policy is that the coverage for backup of water or sewer, which is an add on endorsement that you can purchase, is going to have new limits on how much will be paid out in the event of a claim. Let me start by saying that this coverage is not included in your home insurance policy unless you add it by endorsement. Some people don’t need this endorsement at all, and others absolutely should not be without it. To learn more about the sewer backup endorsement and who needs to buy it, please read my blog about back of sewers and drains coverage.

If you have this endorsement on your policy, then in the past this protection had the same limit of coverage as your home itself. So, for instance if you have $200,000 coverage on your dwelling, then with this sewer back up endorsement, then you would have $200,000 coverage for this type of loss. For all renewals with an effective date of June 1 2010 or later, this changes. Now instead you must choose a limit of coverage. The available limits are $5000, $10,000, $15,000, and $25,000. Probably in most cases one of these limits will be high enough to pay off the loss but there is really no way to know before the claim happens. It’s also fair to note that the cost of this protection is going up on a per dollar basis. That’s because where you used to have the same limit of coverage as your dwelling for around $25 per year cost, now that same $25 will probably buy you between $5,000 and $10,000 of protection, depending on which company you are insured with.

I urge everyone to read the letter that will come with your next renewal if you have this endorsement. Every company will handle this change differently but by and large, most of them will move your protection down to the $5000 coverage level. This is fine if you are confident that this is enough coverage to handle any claims you may have. But if not, then you will need to be proactive and contact your agent and ask for a higher limit.

At Clinard Insurance Group, in Winston Salem, NC, we work hard to help all of our clients become informed insurance consumers. Whether you are looking for auto insurance, home insurance, life insurance or business insurance, please feel free to contact us for help and advice. You can call us, toll free at 877-687-7557 or visit us on the web at www.ClinardInsurance.com.

Much of the source information for this article can be found at our blog website which is www.InsuranceAnswerGuy.com.

When It Comes To Insurance Policies, You Need The Middleman

The old saying, cut out the middleman, might seem at first blush to apply to insurance buying, but a second look will prove that you not only need a middleman, you need an independent middleman. The middleman will not cost you money here, it will actually save you money, not only on your insurance purchase, but even more so if you experience a claim. Read on to find out exactly why.

First of all, let me say that when I discuss the middleman in an insurance policy purchase, I am talking about a truly independent middleman, in this case an independent insurance agent who can represent your needs and protect your rights. Direct writer insurance agencies that represent only one company are not independent enough to save you from yourself. In addition, if you purchase insurance from an 800 phone number or a company that has you quote your own policy online, you are not going to cut out the middleman cost, you will only be cutting out the service. This is true no matter if you are purchasing an auto insurance policy, a home insurance policy or even a business insurance policy.

There are two ways that an independent middleman can help you and in both cases, the middleman does not raise the cost of the insurance. That’s evident when you compare the rates of direct writing insurance companies against those offered by independent insurance agencies.

The first way that you will be better served by a middleman is in the purchasing process. Let’s face it, insurance is a complicated legal contract, designed to protect you from certain types of financial ruin. Buying insurance is not like buying a head of cabbage at the grocery store. Each person’s situation and insurance needs are different and if you don’t have the help of someone who understands the contract intimately, who is there to help you figure out your specific needs, then chances are you will make a mistake somewhere. And the mistake could cost you everything you have worked so hard for. This is a corner you just don’t want to cut.

The second way an independent middleman can protect you is as a buffer between you and the insurance company when it comes to claims questions or claims help. Let me give you an example. Recently a friend of mine came to me and asked for help with her homeowners insurance rates. As I began to work out her needs with her and develop quotes, we found that she had several water damage losses listed in the public record as losses. She complained that she never received any claim payment and so they shouldn’t even show up. She just called her agent to ask if the water damage would be covered. In both cases it wasn’t. But the problem is that her agent was not an independent agent. He represented only one company and as such was an employee of the company. When she called to ask if the water damage was covered, he was compelled to advise his company of this event and this information was entered into her loss file as well as into the shared loss information called a CLUE report.

These water damage losses on her CLUE report made her house uninsurable for all of the companies that we represented and her current insurance company was able to keep increasing her rates every year since she had no option to go anywhere else for her homeowners insurance. But that is not the end of it. When she went to sell her home, the realtor who represented the buyer discovered the clue report information and she was required to implement costly mold eradication procedures in order to sell her home. If she had been our client, and called about the water damage to her home, our independence would have allowed us to tell her that the claim wasn’t covered and that she shouldn’t file the claim because of the other costs she might incur in doing so. In this case, her lack of a truly independent middleman cost her money not only on her home and auto insurance policies, but also when she decided to sell her home.

Remember, with insurance a middleman will not cost you money, an independent middleman will actually save you money. At Clinard Insurance Group, in Winston Salem, NC, we are an independent middleman for our clients and we add value to their insurance buying experiences every day. If we can help you with your homeowners insurance policy, your auto insurance policy, your life insurance policy, or any of your business insurance needs, please call us toll free at 877-687-7557 or visit us online at www.ClinardInsurance.com.

The source information for this article was pulled from articles which can be found at www.TheInsuranceAnswerGuy.com

When It Comes To Insurance Policies, You Need The Middleman

The old saying, cut out the middleman, might seem at first blush to apply to insurance buying, but a second look will prove that you not only need a middleman, you need an independent middleman. The middleman will not cost you money here, it will actually save you money, not only on your insurance purchase, but even more so if you experience a claim. Read on to find out exactly why.

First of all, let me say that when I discuss the middleman in an insurance policy purchase, I am talking about a truly independent middleman, in this case an independent insurance agent who can represent your needs and protect your rights. Direct writer insurance agencies that represent only one company are not independent enough to save you from yourself. In addition, if you purchase insurance from an 800 phone number or a company that has you quote your own policy online, you are not going to cut out the middleman cost, you will only be cutting out the service. This is true no matter if you are purchasing an auto insurance policy, a home insurance policy or even a business insurance policy.

There are two ways that an independent middleman can help you and in both cases, the middleman does not raise the cost of the insurance. That’s evident when you compare the rates of direct writing insurance companies against those offered by independent insurance agencies.

The first way that you will be better served by a middleman is in the purchasing process. Let’s face it, insurance is a complicated legal contract, designed to protect you from certain types of financial ruin. Buying insurance is not like buying a head of cabbage at the grocery store. Each person’s situation and insurance needs are different and if you don’t have the help of someone who understands the contract intimately, who is there to help you figure out your specific needs, then chances are you will make a mistake somewhere. And the mistake could cost you everything you have worked so hard for. This is a corner you just don’t want to cut.

The second way an independent middleman can protect you is as a buffer between you and the insurance company when it comes to claims questions or claims help. Let me give you an example. Recently a friend of mine came to me and asked for help with her homeowners insurance rates. As I began to work out her needs with her and develop quotes, we found that she had several water damage losses listed in the public record as losses. She complained that she never received any claim payment and so they shouldn’t even show up. She just called her agent to ask if the water damage would be covered. In both cases it wasn’t. But the problem is that her agent was not an independent agent. He represented only one company and as such was an employee of the company. When she called to ask if the water damage was covered, he was compelled to advise his company of this event and this information was entered into her loss file as well as into the shared loss information called a CLUE report.

These water damage losses on her CLUE report made her house uninsurable for all of the companies that we represented and her current insurance company was able to keep increasing her rates every year since she had no option to go anywhere else for her homeowners insurance. But that is not the end of it. When she went to sell her home, the realtor who represented the buyer discovered the clue report information and she was required to implement costly mold eradication procedures in order to sell her home. If she had been our client, and called about the water damage to her home, our independence would have allowed us to tell her that the claim wasn’t covered and that she shouldn’t file the claim because of the other costs she might incur in doing so. In this case, her lack of a truly independent middleman cost her money not only on her home and auto insurance policies, but also when she decided to sell her home.

Remember, with insurance a middleman will not cost you money, an independent middleman will actually save you money. At Clinard Insurance Group, in Winston Salem, NC, we are an independent middleman for our clients and we add value to their insurance buying experiences every day. If we can help you with your homeowners insurance policy, your auto insurance policy, your life insurance policy, or any of your business insurance needs, please call us toll free at 877-687-7557 or visit us online at www.ClinardInsurance.com.

The source information for this article was pulled from articles which can be found at www.TheInsuranceAnswerGuy.com

NC Homeowners Insurance Rates Are Changing - Here Are Tips For Getting The Best Quotes

The North Carolina Homeowners Insurance market has undergone wild gyrations this year as insurance company rate makers have tried to react and prepare for regulatory changes with the NC Beach Plan. The uncertainty of the legislatures actions and the slow motion change of the rate bureau in North Carolina have led to some crazy rate changes for homeowners policies in North Carolina. As a consumer, you want to tread carefully before switching companies.

For those NC homeowners who watch the bottom line costs of their home insurance policy, 2009 might have held some real sticker shock surprises. As our fragile Beach Plan Insurance Program threatened to take down the entire system of home insurance in North Carolina, the insurance companies reacted with rule changes, rate changes and the dreaded consent to rate forms. It’s enough to make my head spin, little wonder that it has caused great confusion for the insurance consumer.

If you are thinking of shopping for a better rate on your homeowners insurance policy, here are a few tips that you might want to consider:

First of all, if you are thinking of getting a NC homeowners insurance quote online, be careful. Insurance is a complicated contract and there is a reason that agents are heavily regulated and must be licensed by the state. Don’t put your largest assets at risk in a do it yourself disaster. I suggest that looking for a knowledgeable agent on line is a good idea, but trying to rate and issue the policy yourself is at best ignorant and at worst financial suicide.

Secondly, take a good look at the covered value of your home on your current policy. Make sure that this number makes sense in the context of what it would take to rebuild your home at today’s prices. Many people simply ask for a quote that matches their current coverage amount with questioning if that is the correct coverage limit for them.

Third, don’t forget to carry the highest liability limits that you can afford. Liability coverage is truly protecting you for the unknown and possibly unlimited loss. It is cheap protection and it makes no sense to skimp pennies here.

Fourth, if you have unusual valuable items like musical instruments, stamp or coin collections for jewelry, you should consider having it scheduled for an agreed amount on your policy.

Fifth, you will always save money on both your home and your auto policy if you combine them with the same insurance company. There are times when you may not be able to do this due to prior losses or a specialized need on one policy or the other, but those cases are rare.

Last of all, I would recommend that you use an independent agent to help you with your homeowners insurance quote. An independent agent represents many different companies and can help you find the company that is really targeting your type of home, not only from a pricing standpoint but from an underwriting rules standpoint.

At Clinard Insurance Group in Winston Salem, NC, we want all insurance consumers to be educated consumers. If you need help with your NC homeowners insurance policy, please feel free to call us, toll free, at 877-687-7557.

The source information for this article can be found by visiting www.InsuranceAnswerGuy.com.