Santa delivered gifts, but he didn’t insure them.
Santa delivered the presents, but did he insure them?
No, he didn’t. It’s not in his job description, and poor old Saint Nick had a lot on his plate. But thankfully, your insurance agent is ready to help.
Here’s why you should make a call to your agent as soon as the office opens:
Thefts are generally up right after Christmas. Thieves know where the goodies are, especially when they see the boxes out on the curb.
I understand that almost everyone forgets to call their agent immediately after receiving an expensive gift.
The thrill of the gift tends to block out this mundane task. So, I’m asking you… call your agent.
Three things to ask your agent when you call:
1. Do I have enough contents coverage?
This is a good first question. Your agent can answer it best by asking you a few simple questions about what needs to be covered in your home.
2. Do I have replacement cost coverage or actual cash value coverage?
Now we get into the weeds… just a bit. But this is an important question, and I bet some of you have never thought of it.
Why is this question important?
Because actual cash value coverage pays only the cash value of the items lost due to a covered claim. For instance, you may have paid $1,500 for that new TV a few years ago.
Now it’s stolen, and you file a claim. Under actual cash value, you’ll be lucky to get half of that due to depreciation. It pays only what something is worth at the time of the loss.
On the other hand, replacement cost coverage would pay to buy a new TV of similar make and model to replace the one that was lost due to a theft or other covered event. It replaces what you lost.
3. Should I “schedule my expensive gifts?
Only your agent can answer this question properly. Each situation is different, and depends upon the type of insurance policy you have, the value of your gifts, and your unique life circumstances.
What does it mean to schedule a new gift?
It simply means to assign and agree upon a specific value of an item (usually an expensive item) and then insure it for that full amount.
That usually involves an appraisal if it’s artwork, a collectible, or jewelry. Sometimes a receipt is enough to prove its value. Your agent will know.
Scheduled items are usually covered with no deductible. That could be a huge benefit to you.
Another advantage to scheduling an item is that it can provide coverage for “lost or broken” in some cases. Policies can vary, so ask your agent.
I hope you had an enjoyable Christmas with your family and friends.
I’ll see you in January.
May we all look forward to great things next year!
The sun sets early, and it gets cold outside at night. Are you ready in case of an accident or breakdown?
My Christmas present to you this year is to remind you of two optional coverages that you may not have.
Towing and roadside assistance
“It was a dark and stormy night.”
That famous quote from Snoopy (he stole it from another famous writer, but I digress) … is funny, unless the dark and stormy night happens to you.
How many of you are absolutely sure ... 100 percent positive … that you have towing coverage on your auto insurance policy?
A typical tow can easily cost well over $100. That’s for the easy tows over a short distance. And you’d better have the money up-front. It’s not uncommon for a tow to be well over $200.
Optional towing and roadside assistance coverage on your policy can cover all or most of a tow.
Many people assume that this is included automatically on their car insurance policy. But it’s not.
Don’t assume that you have this coverage. Call your agent today and make sure you do. Your agent will love hearing from you (I always love to hear from my customers. Most agents do.) It’s easy for them to check that you have this, and they can also wish you Happy Holidays!
Rental car reimbursement in Napa
This coverage is not automatically included with your auto insurance policy.
That’s a surprise to many people.
It’s terribly disappointing when this fact is discovered after a car accident.
Rental car reimbursement provides, with no deductible, for a rental car in case of an accident or theft. But remember, it doesn’t provide coverage for mechanical breakdowns. It’s for accidents and theft only.
Also, you must have underlying “full coverage” in order to add this endorsement (extra coverage) to your policy.
But it’s still worth it.
A typical stay in the auto body shop after an accident can be up to a week or more.
At this time of year, roads are often wet, darkness starts early, and the number of accidents is up.
If someone hits you, even though they may be at fault, it could be some time before their insurance company starts paying for your rental car.
Yes, even if they are at fault, you are likely going to have to front the money for a rental car.
Do you know if you have this coverage? It’s easy to check with your agent to be sure.
Happy holidays to you!
Before you begin driving to all of your family get-togethers, call your agent. Make sure you know your coverage. They’ll be glad you called. I know I will. And Merry Christmas!