Tag Archives: Personal Insurance

Dec 14 2013
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Personal Insurance, Personal Risk Management

Planning a Foreign Trip This Holiday? Look into K&R Insurance

Kidnapping is defined as the unlawful act of stealing, carrying off or abducting someone by force or fraud, especially for use as a hostage to extract a ransom payment. What were once canstock13916519crimes perpetrated exclusively against the affluent and influential, kidnappings, abductions, unlawful detainments, illegal arrests and ransoms are happening more and more to people from all socioeconomic levels and walks of life.

Kidnapping statistics are alarming. In the U.S., for instance, there has been a significant rise in child abductions due to parental custody disputes. Internationally, surges in human trafficking and tourist hijackings have also been reported – especially in remote and unsafe parts of the world. In 2012, the following top 10 global kidnapping hot spots were identified, prompting state and federal agencies to issue travel warnings and alerts in these zones:

  • Afghanistan
  • Somalia
  • Iraq
  • Nigeria
  • Pakistan
  • Yemen
  • Venezuela
  • Mexico
  • Haiti
  • Colombia

The problems are not just isolated to the above-mentioned Nations, but are quickly spreading to more locations worldwide. Kidnapping today is big business: Extortion and ransom payments total in the multi-millions of dollars each year.

What Is Kidnap And Ransom Insurance?

Kidnap and ransom insurance provides comprehensive coverage and protection for those traveling in high-risk parts of the world. It’s designed to minimize the financial impact of these incidents on both individuals and multinational corporations.

Who’s At Risk?

Traditionally, high-profile families (famous celebrities and powerful company executives), non-government organizations and employees of corporations operating abroad are the most vulnerable, however, potentially anyone can fall victim to such crimes.

What Does Kidnap And Ransom Insurance Cover?

Kidnap and ransom insurance policies typically cover losses from monies paid for ransom, as well as reimburse the insured for other expenses related to kidnapping or extortion, such as:

  • Transit and delivery costs
  • Investigation, negotiation and recovery services
  • Accidental death or injury
  • Legal fees
  • Medical care
  • Lost wages
  • Crisis management consulting

What You Can Do To Minimize The Danger

Kidnappings, hijackings, abductions, detainments and unlawful imprisonment can happen when you least expect it. The following are some things that you can do to help lower your chances of becoming a target:

  • Avoid traveling in dangerous regions and countries
  • Be hyper-vigilant of your surroundings, both at night and during daylight hours
  • If you are living or working in hazardous areas, participate in kidnapping prevention and preparedness training.

Peace Of Mind When Traveling

Many insurance companies offer coverage to traveling employees and their families, as well as to individuals as part of a personal insurance travel package. As mentioned earlier, anyone can be vulnerable to a kidnap, ransom or extortion crime while visiting a foreign land, so it’s prudent and recommended that one be adequately protected. Discuss your particular situation with an agent or broker experienced in the kidnap and ransom insurance area so you’ll be able to enjoy peace of mind knowing you and your family are safer and more secure when far away from home.

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Nov 30 2013
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Business Insurance, Risk Management

Well It’s Not Like Choosing a Spouse, But Choosing an Insurance Agent Should Not Be Taken Lightly

If you own a business, you should have a commercial insurance policy, and may have other forms of insurance including professional liability, directors and officers coverage, etc. Before choosing an agentpurchasing your insurance policy, you must first select an insurance agent that you would like to work with. On the surface, insurance can seem like a commodity and many insurance agents treat it as though it is by selling policies simply on the basis of price. The reality is that insurance is more than a product – it is a critical tool in any business’s risk management strategy – and crafting a policy that provides adequate protection for your business requires more than a cursory review of your company and the business it is in.

Not all insurance agents are the same. The right insurance agent will approach their relationship with you as a partnership and not simply a sale. How to choose the right insurance agent for your business? Shop around and know what to look for when selecting your partner!

The call is yours

There are literally thousands of insurance agents and insurance companies that would love to have your business. The important thing for you as a purchaser is to know what you need. Are you simply looking to purchase the lowest price policy, or are you interested in reducing your overall business risk and ensuring that you are protected when risk becomes reality? If it’s the latter, a great approach is to seek advice from the lawyers and accountants who helped you open your business. Often, they can recommend the right agent for your needs.

Do some homework

Before meeting with an agent, it is important to have a basic understanding of the types of insurance products you may require. This is another situation where your corporate attorney or accountant may be able to help. With so many forms of insurance on the market, it can be difficult to understand which may be appropriate for your situation.

  • Workers’ compensation is a sophisticated product with subtle ways of determining premium.
  • Life insurance may be the best vehicle for a buy-sell insurance agreement.
  • Businesses with products have needs different than those that provide services.
  • Sole proprietorships need different security than partnerships or corporations.
  • Fire, flood, and others risks mean different things in different locations and different industries.

Before an agent can recommend what types of policies you should purchase, they must first identify and measure the risks to your business. Only then can they determine the best way to manage them. For this reason, you need the agent who has broad and deep experience in all lines of liability. Experienced and reputable professionals pursue continuing education and performance recognition. So, look for the initials after their name: CLCS – Commercial Lines Coverage Specialist, CLU – Chartered Life Underwriter, CRM – Certified Risk Manager, CPCU – Chartered Property Casualty Underwriter, or REBC – Registered Employee Benefits Consultant. There are yet more, but each of these represents years of coursework and testing.

What to value?

The ability to identify and manage risk is the key to a strong partnership with an agent, a holistic approach that reduces costs before they occur. Insurance rates are often based on the number and dollar value of claims, so it stands to reason that, to the extent that you can reduce the incidence and cost of claims, the better off you and your business will be. Look for the agent whose approach involves examining the broader risk management issues facing your business, and whose recommendations include more than simply purchasing insurance.

Accidents will happen, but communication and readiness can improve the odds. When employees and staff are well-informed about risks, their potential consequences, and workable prevention, safety becomes a team event. The agent who can provide material resources in the form of manuals, signage, and training is a personal value to your business. These are the partners you want to sign with.

Choose the agent for whom service is the unique value proposition. Value the commitment and mutual self-interest because it is to your advantage as well as the agent’s to develop and sustain the relationship.

Gary Grissom is a partner and Senior Risk Advisor at Texas Associates Insurors. Gary’s expertise extends to the construction, manufacturing and oil & gas industries where he partners with clients to develop effective cost-reducing risk management strategies.

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Nov 23 2013
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Personal Insurance, Personal Risk Management

Traveling? Renting a Car? Should You Buy the Insurance? So Many Questions!

Car_Rental_Insurance_JusRenting a car can be a confusing process. The additional fees and services offered by car rental companies are often tacked on the bill followed by paragraphs of legalese. Supplemental liability insurance is one of these extra fees. While the name implies importance, it may be an unnecessary fee when renting a car. To determine whether you need supplemental liability insurance on your next car rental, start by assessing your current coverage.

What is Supplemental Liability Insurance (SLP)? 

Most states require that rental car companies provide drivers with minimum levels of liability insurance during the rental period. Supplemental insurance provides additional coverage above the state minimums, up to $1 million in liability protection.

For some drivers, this additional coverage is a great deal that can cover additional costs associated with an accident. For other drivers, this coverage is already included in other areas and duplicating this service through the rental company is a waste of money.

Using a Credit Card? 

Many credit card companies offer bonuses that customers are not using. Charge backs and reward points are often scrutinized and compared when searching for a new credit card but many cards also offer secondary rental insurance which consumers fail to use.

The best way to determine whether your credit cards offer rental insurance is to read the terms of use or speak to customer service. Determine how long after an accident you have to file the claim. Most credit card companies offer drivers a 45 day window. If your credit card offers SLP, buying coverage from the rental car company is unnecessary.

Did You Call Your Insurer? 

Most drivers do not need supplemental liability insurance for the simple reason that they already have coverage under their current auto insurance. In addition to covering the driver while driving other people’s cars, rental cars are covered by basic auto insurance for the same deductible.

Don’t Want to File a Claim?

Even drivers who have primary automobile insurance may opt to use SLP to prevent their insurance rates from rising in the event of a rental car accident. Rental cars are notorious for being driven recklessly and drivers with a lead foot or those that are particularly harsh on rentals may not want rising rates over a couple of scratches. In this case, SLP is a good way to prevent extravagant bills for car damage without effecting insurance rates.

Don’t Own a Car? 

While insured drivers may already carry supplemental liability insurance, drivers who do not own a car may find value in getting additional coverage during their rental period. Without the secondary coverage available from auto insurance, customers with expensive rental cars or valuable assets can protect their money by accepting the nominal daily charge for supplemental liability insurance.

If you’re a non-car owner that travels frequently, the fees associated with SLP can add up fast. Consider contacting an auto insurance company to ask about liability coverage for drivers who do not own a car. Most policies cost less than $300 a year and will provide adequate coverage in case of accident without the additional cost of supplemental liability insurance.

Supplemental liability insurance may not be a great deal, but for drivers with the right prerequisites, it can be a valuable addition to rental insurance. Being underinsured in an accident can have serious consequences. Make sure you understand your coverage before turning down supplemental insurance while renting a car.

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Nov 09 2013
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Personal Risk Management

Teen Driving: How to Keep Your Teen Safe Behind the Wheel

Parenting teenagers has never been more challenging. In addition to raising your teen to become a good person and a responsible adult, parents today need to help their teens navigate a variety of risks including drinking and drugs, social media, and the complexities inherent in friendships and romantic relationships. With all of these factors to worry about, it can be easy to forget that the biggest risk facing your teen is parked right outside of your house. Incredibly, traffic crashes are the number one cause of death for teenagers in America. Teen Driving GraphicAccording to the National Highway Traffic Safety Administration (NHTSA), motor vehicle accidents are the cause of 35% of teen deaths every year, and mile for mile, teens are involved in three times as many fatal crashes as all other drivers.

There are a number of factors that contribute to teen driving fatalities:

  • Inexperience and immaturity
  • Excessive speed
  • Drinking and driving
  • Not wearing seat belts
  • Distracted driving (cell phone use, loud music, other teen passengers, etc.)
  • Drowsy driving
  • Nighttime driving
  • Drug use

Parent Involvement Is Critical

The good news is that many teen driving accidents are preventable, and parents have a key role to play in keeping their teens safe behind the wheel. A recent National Young Driver Survey found that teens with authoritative parents (defined as those who are highly supportive and involved, set rules, and monitor) engaged in fewer risky driving behaviors and had half the crash risk as compared to other teens. In addition teens with involved parents are:

  • Twice as likely to wear seat belts
  • 70% less likely to drink and drive
  • Half as likely to speed
  • 30% less likely to use a cell phone while driving

The takeaway? Make sure you are talking with your teen and setting expectations for their driving.

How You Can Help

There are a number of specific things parents can do to reduce the chances that their teens will be involved in auto accidents:

  1. Set Clear Rules: Make sure to let your teen know what your expectations are and explain the rationale behind them.
  2. Focus on Safety: Let them know that you are setting these rules to keep them safe and not simply to control them.
  3. Reward Good Behavior: If your teen follows your rules and maintains a good driving record, introduce new privileges (such as driving after dark).
  4. Be Supportive: Peer pressure is tough, and your teen may find themself getting pressured to engage in behavior that violates your rules. As a parent, you can make things easier by letting your teen’s friends know what the rules are and then acting as a scapegoat (“I can’t do that, my parents would ground me!”), or by establishing a code word with your teen (if they call and mention the word, come and pick them up right away and with no questions asked).
  5. Communicate: Communication is critical. Talk to your teen and make sure you know where they are going and why, how they plan to get there, and how they will get home. If you (or they) don’t feel confident that they have a plan in place to get safely there and back, offer a ride.
  6. Lead by Example: Even though teens might not admit it, parents really are important role models. Make sure that you practice safe driving. Don’t talk on your cell phone or text while driving, obey the speed limit, don’t drive if you’ve been drinking, and don’t drive aggressively.

One of the best ways to clearly establish and communicate expectations is through the use of a Parent-Teen Driving Agreement. Use this template provided by the Centers for Disease Control or create your own. Either way, make sure your expectations are set out in writing, and then both you and your teen should sign the agreement. Having a clear set of expectations and communicating often about them are the best ways to keep your teen safe on the road.

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Nov 02 2013
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Business Insurance, Personal Insurance

A Casual Look at Property & Casualty Insurance

While shopping for insurance, whether for your home or business, you may have heard the term “property and casualty insurance” used by your agent or insurance representative. When looking at your quote or reviewing your issued policy, you will see lists of coverages such as “personal property” or “general liability”. These coverages fall under either Casualty or Property and make up the essential parts of your policy. Without these, there would be no coverage and no protection for your assets.

But, “what is property and casualty insurance and do I need it?”

Property Coverage

You may find Property coverage more straightforward than its counterpart, Casualty. If you carry any insurance for your building, equipment, furnishings, or your home, car, or personal belongings, then you already have property coverage built into your policy. This coverage protects you against direct damages to your property by covering causes like fire, lightening, and wind.

Property coverage can also apply to loss of income generating ability, as you would find in Business Income coverage. This applies specifically to your ability to generate income in the event of a covered accident or damage that prevents your business from operating. A few days or several weeks could cripple your business and result in closing without this type of property coverage.

Casualty Coverage

Casualty can be difficult to define but it typically refers to the liability coverage found in business and personal policies. The term casualty is not applied to Life, Health or Property policies where liability is not a factor. You will probably hear most often that casualty is insurance covering injury or property damage to others “for which you are legally liable”.  In simpler terms, it is coverage for damages caused by you due to your negligence.

Accidents happen both at home and on the job all the time which can result in injuries.  A friend visiting your house could be seriously hurt because the deck you built collapsed.  Or, a customer at your salon might slip-and-fall because of an unsecured mat and suffer serious fractures. These types of accidents are not anticipated but because of our potentially negligent acts, could result in thousands of dollars in medical bills and legal fees.

Why Do I Need It?

If you own anything of value that you could not replace out-of-pocket in the unfortunate event of disaster, then chances are that you need Property and Casualty insurance.

If you have ever been careless while driving, at home, or at your place of business, you need Property and Casualty insurance.

For all the savings you may have or for all the planning you’ve done, nothing can prepare you for an unexpected event like a fire. The cost to repair and replace your belongings and cleanup the damage in the aftermath could total in the thousands. The best and most effective plan for protecting yourself and your family from financial crisis is insurance.

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Oct 26 2013
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Personal Insurance, Personal Risk Management

Consider Risk Management Strategies When Buying a Home

houseReal estate markets in many parts of the country are heating up, with prices rising at a good clip. In many areas, it is a true seller’s market. So buyers should take heed of the various risks inherent in buying a home and should use sound risk management strategies before taking the plunge on an asset of such size. Here are some risk management and insurance tips to consider for your clients who are shopping for a home.

  • Consider the financial risks by not overextending yourself when buying a home. A good rule of thumb is not to buy a home that costs over 2.5 times your annual salary. Many online calculators can assist you in determining the maximum price for a home you can afford.
  • Consider the property and casualty risks. What are the key loss exposures to the home? For example, is the home in a flood zone? How far is it from the nearest fire department? Is it in an earthquake seismic zone 3 or 4?
  • What is the condition of the home? If it is apparent the home has not been properly cared for by viewing surface level deficiencies, there is a good chance that deeper problems may eventually manifest themselves. Thus, the value of a good home inspector cannot be overemphasized. If it is an older home, when were the various systems upgraded?
  • What types of losses have appeared on the Comprehensive Loss Underwriting Exchange report during the past 5 years? For example, a pattern of water losses may be a warning sign.
  • What type of loss control features does the home have? For example, is there a central station burglar and fire alarm system or a sprinkler system? If the home is in a hurricane-prone area, what windstorm protection devices are in place,
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Oct 19 2013
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Personal Risk Management

Communication & Technology Preparedness

According to The American Red Cross, the Internet—including online news sites and social media platforms—is the third-most popular way for Americans to gather emergency information and let their loved ones know they are safe. Through the use of everyday technology, individuals, families, responders and organizations can successfully prepare for, adapt to and recover from disruptions brought on by emergencies and/or disasters. With effective planning, it is possible to take advantage of technology before, during and after a crisis to communicate with loved ones and manage your financial affairs.

Stay Connected

Keep your contacts updated across all of your channels, including phone, email and social media. This will make it easy to reach out to the right people quickly to get information and supply updates. Consider creating a group list of your top contacts.

  • Learn how to send updates via text and Internet from your mobile phone to your contacts and social channels in case voice communications are not available. Text messages and the Internet often work during a phone service disruption.
  • Keep extra batteries for your phone in a safe place, or purchase a solar-powered or hand crank charger. These chargers are good emergency tools to keep your laptop and other small electronics working in the event of a power outage. If you own a car, purchase a car phone charger so you can charge your phone if you lose power at your home.
  • In your cellphone, program some of your contacts as emergency contacts so that if you are unable to use your phone, emergency personnel can contact those people for you. Let your emergency contacts know that they are programmed into your phone, and inform them of any medical issues or other special needs you may have.
  • If you have a traditional landline (non-broadband or Voice over Internet Protocol) phone, keep at least one non-cordless receiver in your home because it will work even if you lose power.
  • If you are evacuated and have call forwarding on your home phone, forward your home phone number to your cellphone number.
  • If you do not have a cellphone, keep a prepaid phone card to use if needed during or after a disaster.
  • Prepare a family contact sheet. This should include at least one out-of-town contact who may be better able to reach family members in an emergency.
  • Have a battery-powered or hand-cranked radio or television available (with spare batteries).

The following are additional tips for making phone calls and using your smartphone during or after a disaster:

  • Keep all phone calls brief. If you need to use a phone, try to convey only vital information to emergency personnel and/or family.
  • If you are unsuccessful in completing a call using your cellphone, wait ten seconds before redialing to help reduce network congestion.
  • Conserve your cellphone battery by reducing the brightness of your screen, placing your phone in airplane mode and closing apps you are not using that draw power, unless you need to use the phone.
  • If you lose power, you can charge your cellphone in your car. Just be sure your car is in a well-ventilated place (that is, remove it from the garage) and do not go to your car until any danger has passed. You can also listen to your car radio for important news alerts.
  • If you do not have a hands-free device in your car, stop driving or pull over to the side of the road before making a call. Do not text on a cellphone, talk or “tweet” without a hands-free device while driving.
  • Immediately following a disaster, resist using your mobile device to stream videos, download music or videos or play video games, all of which can add to network congestion. Limiting use of these services can help potentially life-saving emergency calls get through to 911.
  • For non-emergency communications, use text messaging, email or social media instead of making voice calls on your cellphone to avoid tying up voice networks. Data-based services like texts and emails are less likely to experience network congestion. You can also use social media to post your status to let family and friends know you are okay. In addition to Facebook and Twitter, you can use resources such as the American Red Cross’s Safe and Well program.

Get Organized

Store your important documents such as personal and financial records in a password-protected area in the Cloud or on a secure flash or jump drive that you can keep readily available. This flash drive can be kept on a key ring so it can be accessed from any computer, anytime, anywhere. Remember important documents, such as:

  • Personal and property insurance
  • Identification such as driver’s license or passport (for family members, as well)
  • Banking information

Don’t forget your pets!

  • Store your pet’s veterinary medical records documents online.
  • Consider an information digital implant.
  • Keep a current photo of your pet in your online kit to aid in identification if you are separated.

Your family may not be together when disaster strikes, so it is important to plan in advance. Create an Emergency Information document or Family Communications plan to record how you will contact one another, how you will get back together and what you will do in different situations.

  • Make sure to share this document with family members, friends and co-workers who will also need to access it in an emergency or crisis.
  • When handling personal and sensitive information, always keep your data private and share it only with those who will need access in case of emergency.

Sign up for direct deposit and electronic banking through your financial institution so you can access your payroll funds and make electronic payments regardless of location.

Emergency Resources

Include these sites in your Emergency Information document to ensure that you can quickly access them from any computer or smartphone.

  • Download the FEMA App to access disaster preparedness tips, build your personal emergency kit and look for open Disaster Recovery Centers along with open shelters (if you’re a disaster survivor). Also, stay informed with the FEMA blog.
  • Local emergency management officials often have notification systems. Opt in to a distribution for your community. To find out if your community offers such services, contact your local office of Emergency Management.
  • Signup to receive a monthly preparedness tip from FEMA’s text messages program.
  • Bookmark important mobile sites:
  • Centers for Disease Control and Prevention: http://m.cdc.gov
  • American Red Cross: www.redcross.org/mobile
  • FEMA/Ready: http://m.fema.gov
  • National Hurricane Center: www.nhc.noaa.gov/mobile

In addition to insuring your home, we are committed to helping you and your loved ones stay safe when disaster strikes. If you would like more information on developing a family emergency plan or building a disaster supply kit, please contact Texas Associates Insurors at 512-328-7676 or http://www.txassoc.com today.

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Oct 05 2013
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Personal Risk Management

Are You Prepared for Severe Thunderstorms?

Every thunderstorm produces lightning, which is extremely dangerous. Though lightning fatalities have decreased over the past 30 years, lightning continues to be one of the top three storm-related killers in the United States. In 2010, there were 29 fatalities and 182 injuries from lightning. Although most lightning victims survive, people struck by lightning often report a variety of long-term, debilitating symptoms.

Other associated dangers of thunderstorms include tornadoes, strong winds, hail and flash flooding. Flash flooding is responsible for more fatalities—more than 140 every year—than any other thunderstorm-associated hazard. Dry thunderstorms that do not produce rain that reaches the ground are most prevalent in the western United States. Falling raindrops evaporate, but lightning can still reach the ground and can start wildfires.

Before a Thunderstorm and Lightning

To prepare for a thunderstorm, you should do the following:

  • Build an emergency kit and make a family communications plan.
  • Remove dead or rotting trees and branches that could fall and cause injury or damage during a severe thunderstorm.
  • Postpone outdoor activities.
  • Remember the 30/30 Lightning Safety Rule: Go indoors if, after seeing lightning, you cannot count to 30 before hearing thunder. Stay indoors for 30 minutes after hearing the last clap of thunder.
  • Secure outdoor objects that could blow away or cause damage.
  • Get inside a home, building or hard top automobile (not a convertible). Although you may be injured if lightning strikes your car, you are much safer inside a vehicle than outside.
  • Remember, rubber-soled shoes and rubber tires provide NO protection from lightning. However, the steel frame of a hard-topped vehicle provides increased protection if you are not touching metal.
  • Shutter windows and secure outside doors. If shutters are not available, close window blinds, shades or curtains.
  • Unplug any electronic equipment before the storm arrives.

Facts about Thunderstorms

  • They may occur singly, in clusters or in lines.
  • A single thunderstorm affecting one location for an extended time can be more severe than other storms.
  • Thunderstorms typically produce heavy rain for a brief period, anywhere from 30 minutes to an hour.
  • Warm, humid conditions are highly favorable for thunderstorm development.
  • About 10 percent of thunderstorms are classified as severe; these storms generally produce hail at least an inch or larger in diameter and have winds of 58 miles per hour or higher. They can also produce tornadoes.

Facts about Lightning

  • Lightning’s unpredictability increases the risk to individuals and property.
  • Lightning often strikes outside of heavy rain and may occur as far as 10 miles away from any rainfall.
  • “Heat lightning” is actually lightning from a thunderstorm too far away for thunder to be heard. However, the storm may be moving in your direction.
  • Most lightning deaths and injuries occur when people are caught outdoors in the summer months during the afternoon and evening.
  • Your chances of being struck by lightning are estimated to be 1 in 600,000, but could be reduced even further by following safety precautions.
  • Lightning strike victims carry no electrical charge and should be attended to immediately.

During Thunderstorms and Lightning

If thunderstorms and lightning are occurring in your area, you should do the following:

  • Use a battery-operated National Oceanic and Atmospheric Administration (NOAA) Weather Radio for updates from local officials.
  • Avoid contact with corded phones and devices, including those plugged into electrical outlets for recharging. Cordless and wireless phones not connected to wall outlets are safe to use.
  • Avoid contact with electrical equipment or cords. Unplug appliances and other electrical items, such as computers, and turn off air conditioners. Power surges from lightning can cause serious damage.
  • Avoid contact with plumbing. Do not wash your hands, do not take a shower, do not wash dishes and do not do laundry. Plumbing and bathroom fixtures can conduct electricity.
  • Stay away from windows and doors, and stay off porches.
  • Do not lie on concrete floors and do not lean against concrete walls.
  • Avoid natural lightning rods such as tall, isolated trees in open areas.
  • Avoid hilltops, open fields, the beach and boats on the water.
  • Take shelter in a sturdy building. Avoid isolated sheds or other small structures in open areas.
  • Avoid contact with anything metal, such as tractors, farm equipment, motorcycles, golf carts, golf clubs and bicycles.
  • If you are driving, try to safely exit the roadway and park. Stay in the vehicle and turn on the emergency flashers until the heavy rain ends. Avoid touching metal or other surfaces that conduct electricity in and outside the vehicle.

Lightning Safety When Outdoors

If you are:

Then:
In a forest Seek shelter in a low area under a thick growth of small trees.
In an open area Go to a low place such as a ravine or valley. Be alert for flash floods.
On open water Get to land and find shelter immediately.
Anywhere you feel your hair stand on end (which indicates that lightning is about to strike) Squat low to the ground on the balls of your feet. Place your hands over your ears and your head between your knees. Make yourself the smallest target possible and minimize your contact with the ground. DO NOT lie flat on the ground.

After a Thunderstorm or Lightning Strike

If lightning strikes you or someone you know, call 911 for medical assistance as soon as possible. The following are things you should check when you attempt to give aid to a victim of lightning:

  • Breathing – if breathing has stopped, begin mouth-to-mouth resuscitation.
  • Heartbeat – if the heart has stopped, administer CPR.
  • Pulse – if the victim has a pulse and is breathing, look for other possible injuries. Check for burns where the lightning entered and left the body. Be alert for nervous system damage, broken bones and loss of hearing and eyesight.

After the storm passes, remember the following:

  • Never drive through a flooded roadway. Water can damage your vehicle and poses a drowning hazard.
  • Continue to listen to a NOAA Weather Radio or to local radio and television stations for updated information or instructions, as access to roads or some parts of the community may be blocked.
  • Help people who may require special assistance, such as infants, children and the elderly or those with access or functional needs.
  • Stay away from downed power lines and report them immediately.
  • Watch your animals closely. Keep them under your direct control.

In addition to insuring your home, Texas Associates Insurors is committed to helping you and your loved ones stay safe when disaster strikes. If you would like more information on developing a family emergency plan or building a disaster supply kit, please contact us at 512-328-7676 or http://www.txassoc.com today.

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Sep 21 2013
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Personal Insurance, Personal Risk Management

4 Tips for Purchasing a New Vehicle

Changing your car can seem like a daunting process with so many factors to take into account and countless options to consider before you find what’s right for you. While it may seem like a tricky task, a new addition to the family and the need for an extra seat or the unwelcome sound of a rattling engine can ensure it is a necessary change to make. MC900440349

It’s important to know how to approach the whole car change process, particularly from an auto insurance point of view, as insurance can often become the deciding factor in any deal. Whether you’ve been through it before or you’re buying your first car, here are 4 tips that can help you ensure a pain-free car change:

1) Requirements: – The first question you need to ask yourself when setting out to change your car is: “What do I need?” It might seem like a simple question, but there’s plenty of answers.

Consider the location where you’re most likely to use your car. If you’re going to spend most of your driving time in the city, then there’s probably no need for a large 4×4 for off-road travel. Similarly, if you’re going to be doing a lot of country driving, a 1.2l hatchback may not be the mopst suitable choice of vehicle.

Location can determine a lot but knowing how long you’ll need the car for, how many days a week you’ll need it, the average daily/weekly distance you’ll be travelling and the number of passengers you’ll have to carry are all determining factors that should get you thinking before you take a trip to the local dealership.

2) Budget: – Everything we own depends on our budget. From the size of our house to the shoes on our feet, spending depends on budget and changing your car or buying your first car is no different. Before you start browsing, be sure to know how much you can afford to spend on a new car – or if you can’t afford a new car, why not consider a second-hand car?

Once you’ve settled on your budget, you can begin to consider your options, however the cost won’t end there. How much will your car insurance coverage cost? How many people will your car insurance cover? How much will it cost you to tax the vehicle? What about maintenance costs? The price of petrol/diesel? These are all financial factors you have to consider before you commit to a new car. It may require thinking ahead but it will be worth it in the long run.

3) Dependability: – Once you know what you need and what you can afford, you can start to look at reasonable options. Consult your local dealership or if your considering online car trade, source highly-rated classified ads sites and start from there. There will be thousands of options of both new and old cars that may fit your requirements and suit your budget, but there is one other factor to consider which can help whittle the mass down to a number of frontrunners.

Dependability is something we all look for when making an investment. It’s a crucial part of the risk management process that helps you to assess the potential value of a decision. If you’re setting out to invest in a new car, you have to think about its dependability and how well the model serves both your requirements and your budget. If you’re after a car for country driving and long-distance travel, think about the mileage and how dependable your car will be after 6 months on the road. If you’re looking for something for recreational travel that you won’t use that often, why spend more than you need to on a car with low mileage? Other comparative factors such as handling, appearance and the motor condition of the car can help you narrow down your options.

4) Trade-in Vale: – The final thing to consider before you sign on the dotted line is the trade-in value of the car. This comes back to assessing your requirements and what you need. How long are you planning to use the care for? 3 years? longer? Determining the potential use of the car can go a long way in helping you equate its trade-in value. If you want to buy a car that offers good trade-in value then the newer the model and the lower the mileage the better. Whereas, if you have little or no intention of trading the car and and maybe intend on passing it on to a friend or another family member or even selling it privately, trade-in potential shouldn’t be your biggest worry.

While buying a new car can seem like quite a demanding venture, a comprehensive risk management strategy taking into consideration your requirements, budget, car dependability and its trade-in value can greatly help you make the right decision. Once you’re happy and you’ve settled on your chosen vehicle, you’ll have to think about car insurance and what sort of plan best suits you.

If you’re considering upgrading your car and have a question about your car insurance policy, ask an expert for free.

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Sep 14 2013
2 Comments
Personal Insurance, Personal Risk Management

Know What Your Home Insurance Plan DOESN’T Cover

Home Insurance is something we are all encouraged to purchase, regardless of things like house size or location. Whether you’re building a house or have recently bought one, Home Insurance should be your number one priority so that you can ensure you and your family are protected ahead of all possible eventualities. Standard policies are readily available across what is considered a large market but finding the right policy that best suits you and your budget can often be a difficult task. The biggest demand is ensuring your policy covers everything you need. In light of this, we’ve compiled a list of some of the commonly excluded items that you might expect to appear on the Standard Home Insurance policy. Knowing what’s not covered will help you figure out what you should be looking for.images

Flood coverage

Flood Insurance is something you’d imagine would be high up the list when it comes to provisions of the standard Home Insurance plan, however, Flood Insurance is often omitted and offered separately altogether.

Depending on where you live – if your house is built next to a creek, river, lake or beside the shore – Flood Insurance may be an ‘absolute must’ or a ‘just in case’ element of your Home Insurance plan. For example, if you live in a flood plain (an areas at high risk for floods) you will be able to purchase Flood Insurance separately through the Federal Emergency Management Agency (FEMA). The maximum cost of Flood Insurance is $250k for your home and a further $100k for the contents within the home. While Insurers encourage tenants living in areas of high Flood Risk to make Flood Insurance a priority, it is also worth considering Flood Insurance if you live in urban areas, where weather can greatly increase Flood Risk potential.

Pests

Most Insurance plans do not cover pest-infestations or the resulting damage. It is generally considered to be a part of Home Maintenance as opposed to a component of the Risk Management Strategy. Again, pest damage insurance might be considered a variant by insurers depending on house location, but the potential damage that infestation may do to the contents of your home makes it an important consideration of your overall Home Insurance plan.Insurance companies generally see these types of things as the homeowners’ responsibility to maintain, and don’t cover them in most cases.

Pets

Most Home Insurance policies come with some liability protection for pet owners such as: if your dog were to bite someone and they decided to sue you as a result, you may be covered under your Home Insurance plan. However, if your pets were to do damage in the home, it is generally considered a maintenance issue and typically speaking, will be excluded from your Home Insurance coverage.

Power Surge

While most standard Home Insurance policies will cover losses for Fire and weather risks such as Earthquake or Storm damage, lightening and powers surges are often excluded from your standard policy. If a power surge in your neighbourhood were to cause damage to any expensive appliances or electronics, you may find that you don’t have the coverage that you thought you did to replace or repair them.

Finding the right kind of Home Insurance Policy may seem like an arduous process, but it is certainly worth while doing the research and knowing what your options are before committing to any one plan. Understanding what is not covered on your plan is an important part of the compare and contrast process. So whether you’ve just built a house or are planning to move, it is important to consult your Insurance provider and approach buying Home Insurance with a clear head.

If you find yourself trembling at the thought of purchasing Home Insurance, talk to one of our experts who can give you the advice you need on what’s best for you and your family.

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