As you may have heard, homeowners and auto insurance rates continue to climb in 2024. Not only are Insurance companies raising premiums significantly, but they have also become more selective about who they insure.
We know the rising cost of insurance is a concern for everyone, so we thought you might be interested in understanding why these prices have gone up.
Factors Contributing to Rising Auto Insurance Rates
• For the first nine months of 2023, the U.S. property and casualty industry posted a $32.2 billion net underwriting loss, which is $7.6 billion more than the same period the prior year.
• The nine-month loss ratio for the industry is 103.4% (that means for every dollar paid in premium, insurers paid out $1.034).
• Personal auto posted a $33.1 billion loss last year, and the average claim cost rose 16%.
• Motor vehicle parts and equipment have increased almost 24% since September 2019.
• Medical inflation grew 6% in 2023 and is expected to rise 7% in 2024.
• Catastrophic weather events have inflicted more damage on cars.
• Carriers are pulling out of states completely or reducing their exposure in high-risk areas.
Factors Contributing to Rising Homeowners Insurance Rates
• Inflation, in all its forms, continues.
• Catastrophic weather events, including wild fires out West, hurricanes in the South, and flooding in inland parts of the country, have increased.
• Several carriers have pulled out of states or put moratoriums on new business for homeowners. The industry predicts there will be more following suit.
• The cost of labor and materials continues to increase (starting with supply chain issues in 2020).
• As of September 2023, the U.S. had seen a record 23 $1 billion disasters.
The good news is that we’re all in this together, right? 😊 If you are a client of ours and you see that your home and auto insurance has gone up significantly, reach out to us and together, we can look at your policies and discuss options to help with these increases.
Hundreds of wildfires are burning right now in Canada, and the wind has blown the smoke over cities like Ottawa to New York City and beyond.
Wildfire smoke contains fine particulates, also known as PM2.5, by scientists. These particles, which are lightweight and tiny, travel far and wide and can go deep into your lungs and bloodstream, causing inflammation, heart attacks, strokes, asthma and other breathing issues.
A study done back in 2021 by the Scripps Institution of Oceanography found that wildfire smoke is up to 10 times more harmful to humans than other types of pollution, like car exhaust, because of the abundance of PM2.5 particles.
If you can see the haze outside your window, the sky looks an unusual color or the air smells like campfire, it’s best to stay indoors if possible.
Here are some more tips on how to protect yourself from wildfire smoke:
How to interpret the air quality index (AQI)
According to AirNow, the higher the AQI value in your area, the greater the level of air pollution and the greater the health concerns.
AQI of 100 or below
An AQI of 50 or below represents good air quality and won’t pose risks. Air quality is still acceptable if the AQI is 51-100, but there may be a risk to people who are unusually sensitive to air pollution, such as those with respiratory illnesses.
AQI between 101 to 150
If the AQI is 100 to 150, people with respiratory or other medical issues should start taking precautions like avoiding the outdoors altogether or wearing a mask when outside.
AQI between 151 to 200
If the AQI is 151 to 200, most people will start noticing some minor effects like a scratchy throat, runny nose and maybe some nausea. If you’re in a sensitive group – for example, if you’ve been diagnosed with asthma or chronic obstructive pulmonary disease (COPD) – then you’ll want to look out for signs of more severe health problems, like chest tightness, an inability to catch your breath, and sudden dizziness or confusion.
AQI between 201 to 300
If the AQI is over 200 in your area – this should show as a purple color on a map – then health risks are increased for everyone, whether you have underlying issues or not. You might notice minor symptoms, such as coughing, but everyone should be alert to symptoms that might indicate a more serious problem, such as a tightening or weighted feeling in the chest or labored breathing.
AQI of 301 or above
If the AQI is 301, everyone will likely experience some form of smoke-related health issue. If you can, move all activities indoors or reschedule them for another day.
If you can, stay inside
If the AQI in your area is above 150, avoid going outside if you can. Avoid things like exercising outside or running errands that can wait until the air quality has improved. If you need to be outside, use a well-fitting N-95 mask if you have one. Because of those small pm2.5 particles, something like a bandana won’t protect your lungs from the smoke.
Minimize your exposure indoors
Close all doors and windows to the outside. If your windows have cracks, use a damp towel to cover them to limit the air from outside.
If you have central air conditioning, run it because it should have an air filter that can help.
If you have an air purifier or air filter, those are best for improving your indoor air quality. You can also make a DIY box fan air filter for wildfire smoke.
If you’re in the car on a smoky day, press that recirculate button. That way, your car won’t be pulling air from outside but just recirculating the air that’s already in the car.
Self-care for smoke-filled days
Try and use a hydrating moisturizer to keep those smoke particles out of your pores. This will also help if your skin feels dry from the smoky air.
If the smell of the fires is getting to you, try dabbing a bit of essential oil under your nose or use a strong-scented chapstick to mask the smell.
Stay hydrated! Fires usually happen where the air is dry and windy. And the weather patterns that carry the smoke can bring those conditions as well.
And try to stay calm. Smoke days are stressful and are an upsetting reminder of our overheating planet. Anxiety will worsen the health effects of smoke exposure, so it might be helpful to remember that other communities have come through similar or worse smoke situations, and the air will eventually clear.
Having the right insurance for your Restaurant protects your business against property damage, liability, or lost income. It’s also a major investment, so it is important that you understand just what your restaurant insurance policy covers and what it doesn’t. Here’s a brief overview of restaurant coverage so you can be sure your business has the protection it needs.
Why is it Important?
Starting a business is hard work. Keeping it running while maintaining a profit is even harder. The last thing you want is to watch all your careful planning and effort go down the drain because of theft, fire, or legal matters. Problems happen no matter how hard you try to keep everything perfect, and they’re rarely your fault. That’s why it’s so important to invest in the right insurance for your business. Restaurant insurance applies to a variety of business types, including:
Cafes and coffee shops
Fast food restaurants
Full-service restaurants
Ice cream shops
Take-out and delivery shops
Food trucks
No matter what your restaurant looks like, insurance can help protect the business you’ve worked so hard to build.
Covering the Necessities
Restaurant insurance packages usually cover a range of necessities to make sure your business is protected in various situations. A few of the common coverage types that you’re likely to see in your policy include:
Business property: This covers your building, equipment, signage, and furnishings against fire, sewer backwash, vandalism, and theft. It’ll also cover the cost of replacements or repairs.
Business income: When disaster strikes, you may have to temporarily shut down your business for repairs. Business income insurance will cover some of the lost income while you’re closed.
General liability: If a guest slips on a spill, gets food poisoning, reports a stolen belonging, or brings charges of libel or slander, general liability will cover the expense of the lawsuit.
Liquor liability: This covers you if a guest is served liquor at your establishment, then destroys property or harms others due to intoxication.
Workers’ compensation: If one of your workers gets hurt or sick while on the job, workers’ compensation insurance will help pay medical fees and lost wages.
Commercial auto: An essential coverage for food delivery and caterers often on the road, commercial auto insurance covers theft, vandalism, damage, and medical bills related to your business’ vehicles.
What It Doesn’t Cover
Most standard restaurant insurance policies do not include flood or earthquake coverage. If your restaurant is near water or in a location vulnerable to earthquakes, you should take a look at flood or earthquake insurance to make sure you’re covered in all scenarios.
Next, consider if you’ve decorated your restaurant with fine arts, antiques, or collections of valuable memorabilia. These touches are a great way to set the mood and draw a crowd, but they’re also expensive and often unique. Most restaurant insurance policies won’t cover your valuable décor, so you should consider investing in fine arts and collections protection to make sure those items are covered in the case of theft or damage.
Protect Your Restaurant
With the right protection in place, you can have peace of mind while focusing on what’s most important: serving great food and drinks to your valued customers. For restaurant and business owners in New Jersey and around the country, Muller Insurance offers quality service and will help you find policies to fit your needs. Contact us to find out more about restaurant insurance.
If you’re here in Lancaster County Pennsylvania and are interested in learning more about restaurant insurance or getting a no commitment quote, please contact Jay Gandy at Martin Insurance Agency for more information.
Protecting yourself in the event of damage, loss, illness or death is what insurance is for. As an adult, you most likely have several types of insurance: car, life, homeowners, etc. If your house catches on fire or you get into an auto accident, you file a claim to receive compensation for replacing or fixing what you’ve insured.
However, insurance can go far beyond auto, home and life. There are many strange insurance claims made on normal policies, some fraudulent and others just extremely bizarre. There are also many strange policies that show just how far insurance can protect you.
Top 26 Strange Insurance Claims
The farmer who lost his phone in an unlikely place
A livestock farmer in Devon, UK filed an insurance claim on his iPhone, which he lost one dark and stormy night helping one of his livestock give birth. He claimed the phone disappeared in the cow. The phone made a reappearance but, as expected, failed to work. The insurance company paid out the claim in full.
Teeth overboard
Losing your baggage while traveling is not uncommon, which is where Travel Insurance comes in handy. But what exactly do insurance companies consider baggage? One man filed a lost baggage claim to his travel insurers over lost dentures. How did he lose his dentures? They fell out while vomiting over the side of the cruise ship while on vacation. Lucky for him, his insurer complied.
Burglary mishaps
Most people have homeowners insurance to cover things like house fires or robberies, but what if your burglar suffers from mental anguish due to a faulty garage door opener? This happened to one couple who went away on vacation for a week. While on vacation a burglar robbed their home and tried escaping through the garage. The burglar ended up locking himself in their garage because the garage door opener wouldn’t work. He was trapped there for a week and forced to dine on dog food and soda – the only edible items he could find. The burglar escaped when the family came home and promptly filed an insurance claim against the owner for mental anguish. He was awarded $1 million.
Snakes in your pipes
People from the south are very familiar with how snakes love cool, dark areas. One Texas family was in for a surprise when someone went to the bathroom and noticed a rattlesnake’s head peeking out of the toilet. Once they had the one rattlesnake removed, experts discovered 23 more of them around the plumbing system resulting in some damage.
Power outages leading to pest infestation
One couple was greeted with an awful welcome home gift after traveling to Greece for a month. During their trip, the power went out in their home and all the food in their freezer defrosted causing everything to spill out onto the garage floor. But wait it gets worse: The couple’s home was ravaged with mice hunting for food. They had to have their home exterminated before the repairs could be made. Thank goodness for homeowners insurance right?
Flying trampolines
Have you ever seen a giant flying frisbee? When a powerful gust of wind passes through a neighborhood trampolines can be transformed into frisbees. Texans are all too familiar with strong winds that can reach speeds up to 50 MPH. The Lonestar State has had multiple incidents reported of trampolines flying into neighbor’s homes that led to serious damages. If you have a trampoline, you might want to check out our post on backyard liabilities so you can find out how to better protect yourself from financial liability.
Death by ghost
The Royal Falcon Hotel in Lowestoft, England insured its staff and customers against death and disability caused by ghosts, poltergeists and other abnormal activity.
Boiled alive
Hot tubs can be a relaxing place to unwind after a long day, but be sure to always check the temperature before you hop in. One man unfortunately jumped into a hot tub that malfunctioned and it had risen to a skin-burning 150 degrees. He had to quickly rush to the emergency room and was treated for third-degree burns. Yikes!
A canine chef
A dog named Skyler accidentally turned the stove on when he reached for a one-year-old’s birthday cake that was sitting on the burner. Instead of eating the cake, he set it on fire. Fortunately, no humans or dogs were injured.
Goat damage
While driving on country roads in a fancy red sportscar, one man attempted to get a herd of goats out of the middle of the road by honking at them – which startled the goats so much they jumped on top of the car! One even battered his horns on the driver’s side door. Needless to say, this driver was thankful for carrying comprehensive coverage on his Webb Auto Insurance
A motivational injury
A motivational speaker had to get their insurance company involved when a volunteer from their audience sustained injuries, after being encouraged by the speaker to break a board with their hands.
DIY bowling alley
One Homeowner’s Insurance claim was denied when the policyholder said the damages from turning her hardwood floor into a bowling alley were the result of her floor not being “hard enough.”
Un-happy hour
Wine enthusiasts know that a rare, properly aged bottle of wine can fetch for a pretty penny. When a sewage pipe backed up and overflowed, one homeowner filed a claim for wine in the basement cellar, which had been spoiled by heat from the damages. Talk about an un-happy hour.
A camel kick down under
While vacationing in Australia, one man filed a claim after his car door was kicked in by a wild camel. Fortunately, his claim was approved because he had video evidence to prove he wasn’t making it up.
Drone disappearance
On a particularly sunny day, one woman decided to take her pricey, brand-new drone on a test ride. She turned away mid-flight to avoid the glare of the sun. When she looked back, her unmanned drone had vanished into thin air.
A unique attic cleanup
One family was in for a huge surprise when they saw a cluster of bats flying from their 150-year-old farmhouse. As it turns out, the attic was infested and coated in almost two feet of bat poop. Thank goodness for homeowners insurance, right?
A tasty pickup truck
A hunter in southwest Missouri polished his prized 4WD pickup truck with a carnauba car wax that had a distinct banana scent. When he returned from a hunting trip, he found a group of horses licking his truck. As he got closer, he noticed the truck was also covered in bite marks!
The snowless skiing trip
After buying a brand-new pair of skis for her trip to the Alpines, one woman filed a Travel Insurance claim because there was hardly any snow on the ground when she arrived. Pretty wacky, right?
That math doesn’t check out
Once upon a time, an insured filed a claim saying their boat was stolen from a closed garage. The problem? The boat was 30 feet long, and the garage was only 24 feet. Instead of having their claim paid out, they received a fine.
Buried treasure
Two children buried their parents’ video camera in the sand during a family beach vacation. Unfortunately, they couldn’t remember where they put it!
A goose with expensive taste
One woman filed an insurance claim after a goose swallowed her diamond ring. She searched through its droppings for a few weeks until the goose flew away and never did find the ring. Yikes!
Where, exactly, did you lose this?
Despite filing a $10K claim for a lost fur coat, one woman’s plans were foiled when the coat was found sitting in storage with her name monogrammed on the inside – along with a $1K receipt for the coat.
Four-legged painters
One woman discovered a colorful mess after her dog accidentally dipped its tail in an open can of paint – and then proceeded to shake and wag paint drippings all over the house! Lesson learned: two-legged painters are better than the four-legged variety. No word on whether the damages included a trip to the dog groomer.
Lying in Public
Isabel Parker, the 72-year-old queen of the slip-and-fall scam, prostrated herself in department stores, supermarkets and liquor stores 49 times during her long career – a sad byproduct of her gambling addiction. Prosecutors said that she treated insurance claims like her job – and she kept very busy. The woman filed a total of 49 bogus personal-injury claims in Philadelphia, Delaware County and New Jersey, and collected $500,115 between 1993 and 2000. She pleaded guilty to 29 counts of insurance fraud and theft in New Jersey alone. She earned herself a four-year sentence under house arrest.
Double Doofus
A man from Delaware torched his own home and his own convertible to collect on his homeowners and auto insurance. Nicholas Di Puma said it all started when pans on his wood stove ignited while he was cooking. Then buckets of coals caught on fire. After trying to extinguish the inferno, Di Puma said he threw the first bucket out the door, where it apparently landed in the backseat of his convertible. While en route to tossing the second pan outside, he tripped and the second landed on his sofa. Unbelievable? That’s what local law enforcement thought, too. Di Puma pleaded guilty to second and third degree attempted insurance fraud and got five-years of probation with no insurance benefits. His home and car were completely destroyed.
Cigared for life
A lawyer from North Carolina purchased a box of expensive cigars and insured them against flooding, storm damage and – of all things – fire. Needless to say, his investment went up in smoke within a month – after which the lawyer filed a claim with his homeowners insurance company, stating that he was owed compensation because “the cigars were lost in a series of small fires”. The insurer refused to pay, assuming (correctly) that the man had smoked the cigars himself. A judge ruled, however, that since the insurer had never stated what was considered to be “unacceptable” fire, the company did, in fact, owe him $15,000 to replace his property. The insurance company paid the claim, but then had the lawyer arrested. He was sentenced to 24 months in jail and a $24,000 fine for 24 counts of arson and insurance fraud.
Top 12 Weirdest Insurance Policies
Falling coconuts
Did you know that falling coconuts kill 150 people worldwide a year? That fact was the basis for the Travel Agency Club Direct to include injuries by falling coconuts in their insurance policies. While there are no reports that anyone has filed a claim through Club Direct related to coconut injuries, there was a case dealing with a coconut and payout in Hawaii. A police officer was struck in the head by a falling coconut while removing fronds from a public sidewalk. The officer was awarded $39,000.
A hairy situation
How much do you think your chest hair is worth? If you’re singer Tom Jones, the answer is $7,000,000. Believe it or not, Lloyds of London agreed to issue an insurance policy to cover Tom Jones’ chest hair.
Crazy tongues
Miley Cyrus and Gene Simmons have one thing in common and it’s not being iconic singers. The Kiss rock and roll legend and former Disney pop star both have $1 million insurance policies on their tongues.
Can you taste the payout?
If you’re a food critic, your taste buds are crucial to your livelihood. Food Critic Egon Ronay decided his taste buds were not to be taken lightly, so he insured them for an incredible $393,000.
How about smelling the payout?
Dutch winemaker, Llja Gort purchased an $8 million policy on his nose after hearing about a man who lost his sense of smell in a car accident. The terms and conditions of his policy forbid him from riding a motorcycle, working as a knife thrower’s assistant, fire-breather and other activities that put him at risk of losing his sense of smell.
In the event of an abduction…
International businesses are notorious for purchasing insurance policies for kidnapping in case one of their executives are abducted in another country while on a trip. But now you don’t have to be a multinational business worker to purchase this type of coverage! The insurance company will send a team of negotiators to rescue you and will reimburse the kidnappers with a compensation price up to your policy limits.
Even alien abductions!
Do you believe in aliens? Have a fear of extraterrestrial activity? You’re in luck. Alien Abduction Insurance can be purchased from the St. Lawrence Agency in Altamonte Springs, Florida. In the event of an alien abduction, if you can prove you’ve been abducted, the company will pay you $1/year until death or for 1 million years. A London based insurance company also sold over 30,000 alien abduction insurance policies throughout Europe. Again, policyholders will have to provide legitimate proof of the abduction to file a claim.
Do you insure your sales promotions?
Some companies do. A jewelry company in North Carolina offered to refund $500,000 in sales if the city got more than three inches of snow on Christmas Day. Good thing they got insurance, as Wilmington, N.C. saw eight inches.
Insure your “assets”
If you’ve got it, flaunt it. If you’re famous, get an insurance policy on it. That’s what Jennifer Lopez did. J. Lo has an insurance policy in the amount of $27 million dollars for her butt.
How about legs?
After signing a deal with Gillette, Mariah Carey took out $1 billion in insurance coverage on her legs. Her management team thought that this coverage was essential because she was getting ready to go on a big tour and her popular reputation made that investment necessary.
Congratulations you’re having twins!
In the event that you conceive more than the one baby you planned, Lloyds of London can help you out. It’s called Multiple Birth Insurance, and it covers the financial impact of more than one baby. One couple collected after having twins, purchased the insurance again and ended up having another set of twins.
Bride on fire
Some wedding days just don’t turn out the way you would hope. Everything seemed to be going well on the day for Paula Catelli from Rimini, Italy, until her beautiful, hand-made wedding dress came slightly too close to the barbecue. The synthetic material went up in flames immediately, and within moments Catelli was what no girl on her wedding day ever wants to be – a bride on fire. Her loving husband saved the day by picking her up and throwing her into the sea. Fortunately, both bride and groom were excellent swimmers. The insurance company paid out 50% compensation for the disaster – possibly out of sympathy.
Crazy Christmas Insurance Claims
As a bonus, here are some crazy insurance claims made during Christmas time.
Santa needs to wipe his feet!
One homeowner claimed damage to a carpet caused by sooty footprints left on Christmas morning. Proof of Santa, perhaps? No, a hungry squirrel had apparently been tempted down the chimney by the array of nuts left out in the fireplace.
Santa’s stolen vehicle
An insurer received a report that Santa’s sleigh had been stolen. “Apparently, Santa stores his sleigh at a gift shop in Connecticut and this was stolen from the rear of the store,” one insurance adjuster wrote about the case they received (the sleigh was actually part of a holiday display at a gift shop.) But, the question remains, what would the insured value of Santa’s sleigh be???
Christmas stuffing
A six-year-old cocker spaniel, Suki, wolfed down 12 mincemeat pies during the Christmas holidays in Great Britain, including the foil and the packaging. When the dog’s owner returned home that evening, the dog was lying on her back, feet in the air, and reportedly “twice the size she usually is.” As the owner rushed the poor dog to the emergency vet, the dog got sick all over the owner’s brand new car. The vet said there was not much more he could do and prescribed medicine to help Suki “pass” the foil, which risked puncturing her gut. The insurer covered the cost of the medicine and the visit to the vet, but the policy did not cover the cost of cleaning her car.
Interactive video games
Any families intending to buy a game system for Christmas should take heed of the accident that befell two youngsters insured by Home & Legacy, according to one British newspaper. Perhaps too intently focused on the game, the kids threw the handset of their new Nintendo Wii through the equally new plasma-screen TV. The insurer paid out almost $1,400 for a replacement.
Beware of the flying Christmas tree
One insurance company in Indiana reported that a claimant was driving home from Christmas shopping when large Christmas tree badly tied to the roof of the car in front of him came loose and smashed through his front windshield. “He was driving too fast and I saw the tree lift off and it flew straight at me,” the claimant reported. The car didn’t stop and they never came back for the tree or to take responsibility for the damage they were responsible for. The man’s windshield was covered by his insurance and the police let him take home the rogue tree. Despite the inconvenience, it’s hard to turn down a free Christmas tree.
Lighting up the tree
It used to be that in days of old, people in various parts of Europe and in the United States would put real candles on their Christmas tree. Lovely, right? Dangerous? Absolutely! Recently, one insurance claim described how one homeowner attached candles to their Christmas tree and left the room. The tree caught fire, which spread to the rest of the house. The homeowner claimed almost $400,000 damage on their home insurance policy. No word on whether the insurer paid out.
Christmas cooking gone bad
A claimant reported opening the oven holding a baster and a pair of oven gloves. But the turkey was heavier than expected; it flew out of the oven and onto the floor. It looks like the three-second rule applied, as the family enjoyed the remnants of the mess, while the insurer paid out for a new carpet.
Collections and collectibles come in all shapes and sizes. You might own a collection of antique beer steins passed down to you from your grandfather. Perhaps a relative gave you a treasured stamp collection. Or maybe you managed to save all your childhood comics in pristine condition.
Sometimes collections and collectibles are worth more than simply a dollar amount. However, if those special items do have value, it’s important to document their condition, record the contents and provide adequate protection in the form of collectibles insurance. Without detailed, expert review, you may overestimate or underestimate the value of your collectibles and, therefore, not know how to properly insure them.
Follow these four steps to discover what your items are worth.
1. Assemble documents and an inventory
It can feel overwhelming to try to establish a value for thousands of coins or antique toys, so start with what you know. If you have any documentation on purchases or provenance, gather those. The provenance is beneficial in detailing the significant history and journey your collectible has traveled whether it be the origin, previous owners or historical value along the way. Note all items of a collection in an inventory like you would for a whole home inventory.
A detailed inventory including expert valuations can help you not only document your collection, but also provide valuable information if you plan on insuring these items.
Carefully document each collectible with as much information as possible.
Take photos of each object.
Retain receipts to conclusively establish ownership of items.
Update your inventory regularly.
Keep photos and documentation in a safe off-site location or digital storage.
2. Hire an appraiser
A professional appraiser can be useful for a number of reasons. Their expert documentation helps establish a value, which in turn enables you to obtain the right level of collectibles insurance coverage. (For insurance purposes, you’ll want to know the “retail replacement value” — the highest amount that would be required to replace an item with a similar piece.) If, in the future, you decide to sell a portion or all of your collection, the appraisal can help establish a market value, too.
After you have completed the inventory of your collection and have had it properly appraised, it’s a good idea to insure it. Most homeowners insurance and renters insurance policies provide only limited protection for collectible items. However, we can offer you some options to ensure protection for collections such as a Personal Articles Policy. This is a separate policy, specifically for items such as valuable jewelry, antiques, fine art, collectibles, etc., that may provide broader coverage than a homeowners or renters policy. Individual items are typically insured up to a specific amount, or large collections of certain types of items (like wine collections and sports card collections) may be insured on a blanket basis. The Personal Articles Policy may be used to insure just a few items or an entire collection.
It is important to understand the difference of agreed value vs stated value when insuring your collection.
Agreed value — The coverage amount paid if damage or loss occurs would be the previously agreed upon amount set by both you and the insurer. This value would be determined based on rarity, special features, industry guidelines along with the condition of the items.
Stated value — The insurance company doesn’t determine the value. You, the individual, state the value amount. However, your insurance company may not necessarily pay the full amount stated, as it will be determined by the market value at the time of loss.
4. Periodically reevaluate your collection
Check with your independent insurance agent to see how the insured value adjusts to account for inflation. And you may want to set a timeline to check in with an appraiser about a rise or fall in value, which may require an adjustment in your collectibles insurance level, too.
And remember, it doesn’t matter if you inherited your collection, or if you assembled it over the years, we can help you protect it. Contact us here, or give us a call at 717-872-7756.
Beauty and wellness are valued all over the world, and so are the businesses that provide them. Opening a beauty salon or barbershop is often a great investment, but regardless of your efforts to protect your business, accidents still happen. Before they do, make sure you’re protected. Here are few points to consider when shopping for salon or barbershop insurance.
What Kind of Salon Do You Run?
Salon insurance may seem straightforward. In reality, however, not all salons offer the same services. To make sure your salon is properly protected, it’s essential to think about the services you offer and talk to an agent who can tailor your policy. The following types of businesses have varying needs which all must be considered:
Nail salons
The sharp tools and strong chemicals used in manicures and pedicures can sometimes lead to injuries and lawsuits. If offering these services, invest in extra professional liability and workers’ compensation to ensure everyone is protected in case of injury.
Hair salons and barbershops
Hairstylists and barbers often struggle with drainage systems that easily get clogged with hair. For this kind of shop, a drain and sewer backup policy gives you some additional protection in case of a backup.
Spas
Beauty and wellness spas make heavy use of candles, heated stones, hot wax, and similarly heated items. If your salon is like this, then bump up your fire liability insurance in case of a knocked-over candle or too-hot massage stone.
Beauty salons
If you deal with procedures that make heavy use of equipment like tanning beds, microblading tools, airbrushes, curling irons, and more, you may be concerned about mechanical breakdown. Additional coverage can protect you in case your gadgets falter.
Commonly Excluded Services
When a business offers services that are untested, invasive, or come with higher risks, it may become too risky to insure. Agencies are likely to exclude that service from the policy, meaning you aren’t protected from lawsuits if someone gets hurt or isn’t happy with the service. A few spa and salon services that are often excluded include:
Tanning and airbrush services
Hair implants and transplants
Eyelash dye and coloring
Massage therapy
Red light therapy
Electrolysis
Offering these services doesn’t mean you can’t get coverage, though. You may have to pay extra for liability, so talk to your agent if you think offering these services will give you trouble.
Do You Sell Beauty Products?
Selling beauty products on the premises can come with some added risks. If your business becomes victim to a fire, for instance, then you risk losing your inventory, along with any other property damage that occurs. In addition, if there is a manufacturing flaw in any of your products, you might be held liable for resulting damages – even if you didn’t make the product. Protect yourself and your products by investing in additional property coverage and product liability insurance.
Learn the Limits of Your Insurance
When you own a salon or Barbershop, it’s essential to consider your services carefully while shopping for insurance. Serving Lancaster County, Pennsylvania and the surrounding area, Martin Insurance, a division of ENDERS, can help you find and tailor a policy to suit your needs. To learn more about hair salon insurance, contact us today.
As a farmer or rancher, you know your business isn’t exactly a 9-to-5 job. Because you don’t have a typical job, you can’t settle for typical insurance. When your farm is your business, a homeowners policy likely won’t provide the protection you need for your operation. Learn what farm property and liability insurance covers so you can get the right protection for your farm or ranch. So, what does farm insurance cover?
Farm Property
The equipment you rely on every day to do your job isn’t easy (or cheap) to replace. Your policy should ensure that items such as your farm machinery and equipment are covered.
Insuring a farm includes more than just coverage for a house and barn; it can also include machine sheds, outbuildings and the equipment stored in them. In addition, other things considered property include livestock, fertilizers and pesticides. Your farm or ranch probably requires a lot of electrical, mechanical and computer equipment. Equipment Breakdown Coverage can protect you from losses caused by electrical or mechanical breakdown. Even the GPS systems and computers you need for your operations can be covered by insurance. Confirm with your provider what is included with your farm insurance coverage, as many of these items are often considered separate from a homeowners policy.
If you have a building on your property that generates income (like hog confinements or dairy barns), you could be looking at a loss of income if one of those buildings is no longer operational. Farm and Ranch Operations Interruption coverage can help forestall loss of vital income.
Farm Liability
Farm or ranch liability coverage protects your assets in case of a lawsuit. A liability claim can be costly and damaging to your operation. This customizable coverage can protect you from bodily injury claims or accidental property damage claims that occur.
Do you ever invite the public to your farm or ranch? This can be a huge risk if you don’t have the right farm liability insurance coverage. With agritourism (think corn mazes, pumpkin patches and u-pick apple orchards) becoming more popular every year, coverage is even more vital. If someone is injured on your property, you could be the one paying if you don’t have farm liability insurance that covers an agritourism operation, whether it’s year-round or a seasonal endeavor.
Vehicles
On a farm or ranch, you need vehiclesto get the job done. Make sure that your coverage includes things like comprehensive and collision coverage for your farm trucks and semis. Likewise, liability coverage is an important element of a vehicle insurance policy, as it can help protect you from claims against you if there is an injury or property damage caused by your personal vehicle. Have an ATV? You’ll want to make sure that’s covered, too.
Workers’ Compensation
If an employee is hurt on your farm, are you covered? Keep in mind, what qualifies as an “employee” may include more situations than you think. Even family members helping on the farm for a day could leave you — and them — exposed to risk. A workers’ compensation policy can be a valuable (and, sometimes by law, necessary) addition to your farm owners insurance. A workers’ compensation policy could make all the difference if an employee is hurt in the course of employment.
Crops
Nothing is more unpredictable than the weather, which means crop insurance could be crucial to your operation. Crop insurance comes in a variety of forms and depends on what you grow and when you grow it. It can cover things like planting and replanting, large production losses, weather-related causes of loss and more. Even if your acres are just pasture, rangeland or forage, there’s coverage for that too.
Smarter Insurance for Agriculture®
Whether your operation is a small, family-run affair or a commercial one, Martin insurance, a division of ENDERS, can help you customize the right insurance coverage to fit your needs so that you can properly protect your livelihood and what matters most to you. Click here to request your free quote today, and someone will contact you.
If traveling or running an errand for your workplace, it may be more convenient to use your personal vehicle. However, if a burglary or accident occurs while you are driving for business purposes, your vehicle may not be covered under personal auto insurance. While it is generally not recommended to use your personal vehicle for business, some policies allow you to have full coverage if you encounter a problem.
What Is Personal Auto Insurance?
Personal auto insurance is required for all drivers in most states and is designed to cover your vehicle for individual needs, such as going to the grocery store or taking a road trip. If you get into an accident, personal car insurance ensures you are covered for damages and medical expenses. It may also cover any damage to property resulting from the accident. If your car is stolen, personal car insurance protects your investment.
What Is Business Auto Insurance?
Business vehicle insurance, or commercial auto insurance, covers all business-related travel in your vehicle. Since business transportation often is more extensive and frequent than personal travel, business auto insurance may be more expensive than personal policies.
In most states, vehicles used for company purposes must be covered under business auto insurance. This requirement ensures protection for the driver and other parties involved in the motor vehicle accident. Commercial auto insurance can also protect vans, trucks, or other business vehicles.
Business car insurance is a great option for self-employed individuals. It can also be ideal for those who carry expensive tools and equipment in their car or commercial vehicle. In both cases, it delivers peace of mind if the vehicle is damaged in an accident or stolen.
When Can Business Travel Be Covered Under Personal Car Insurance?
Select personal car insurance policies cover business use, typically with stipulations attached. Occasional work trips to meet with clients may qualify for protection under personal auto insurance, as well as the daily commute to your workplace, provided it is one location.
However, if you have to take frequent work trips, or if you travel to another area to pick up supplies or goods, you likely will not receive coverage under personal car insurance. In addition, personal car insurance does not cover vehicle use during delivery service jobs, such as pizza delivery, GrubHub, or DoorDash. It also does not protect Uber or Lyft drivers if they get into accidents. Instead, you’ll want to register your vehicle for commercial auto insurance.
Many companies do not cover business vehicles under a personal vehicle insurance plan because business-use vehicles typically are on the road more often than personal-use vehicles, increasing the likelihood they will get into an accident. This also is why business vehicle insurance is more expensive than personal car insurance.
Which Policy Should I Choose?
Before deciding on the right vehicle insurance policy, it can be beneficial to discuss your options with an agent. These professionals guide people in finding the best insurance policies based on their unique circumstances and needs. They also may assist you in bundling insurance to give you coverage benefits.
Working with an independent insurance agent like us, provides many advantages when it comes to finding the perfect combination of insurance policies. We have access to a variety of insurance policies from multiple companies and work diligently to help you locate sufficient coverage at an affordable price.
You also may want to add extra policies to your basic personal car insurance policy. The standard personal car insurance policy won’t cover everything in the case of an emergency. Individuals can choose from many optional add-on insurance policies. For example, there may be additional insurance policies for ride-sharing vehicles like Uber or Lyft. Add-ons for collisions, vandalism, theft, weather, and glass coverage if windows and windshields become cracked or damaged also are available.
Personal Auto Insurance at Martin Insurance Agency, a division of Enders.
If you are in Lancaster County Pennsylvania, or the surrounding counties, let Martin Insurance / ENDERS help you find the right personal auto insurance coverage. We have spent decades building our reputation for client-centered service in the communities we serve. Whether you’re looking for personal or commercial auto insurance, our insurance agents will work with you to find the best coverage options for your vehicle and peace of mind. To learn more about personal auto insurance, contact us at Martin Insurance today and get a quote.
Comprehensive travel insurance policies package together a number of valuable benefits. You can also buy policies that cover only trip cancellation or only medical expenses. With the wide variety of plans available, you can find coverage levels that will fit your budget and trip needs.
Look for these top coverage options in a comprehensive plan.
Trip cancellation insurance
You don’t book a trip with the intention of canceling it, but unexpected illness, injury, family member sickness, jury duty and more could derail plans. Trip cancellation insurance reimburses you 100% for money you lose in pre-paid, non-refundable deposits if you have to cancel for a reason listed in the policy.
If Covid is a concern, you can find travel insurance policies that cover Covid-related trip cancellation if you contract the virus right before the trip.
A good strategy is to insure the total amount you have put into non-refundable and pre-paid deposits. Don’t insure refundable amounts, like refundable plane tickets, because you can’t make an insurance claim for that.
Travel medical insurance
This is important coverage for travelers going abroad, where your U.S. health plan may have limited glocal coverage or no coverage. Travel medical insurance pays for ambulance service, doctor and hospital bills and other medical expenses during your trip. You can find generous coverage limits of up to $500,000 per person, but depending on your trip you may not need that level of coverage..
Because Medicare does not pay for health care outside the U.S., except in very limited circumstances, travel medical insurance is essential for senior travelers.
If Covid is a concern, you can find travel insurance policies that cover Covid-related medical expenses if you contract the virus during your trip.
Emergency medical evacuation coverage
This is also important coverage for those traveling abroad, especially if you’re going to a remote area where quality medical care might be hard to find. Emergency medical evacuation insurance pays to get you to the nearest adequate medical facility. You can find ample coverage of $1 million per person.
“Cancel for any reason” coverage
You may be able to upgrade your trip cancellation insurance to “cancel for any reason” (CFAR) coverage. Not all providers offer this add-on. Having it allows you to cancel your trip for any reason that’s not listed in your base policy. For example, you could cancel the trip because you simply don’t feel like going anymore. Reimbursement under a CFAR claim is often 75% of your trip costs, not the 100% that’s available under the base trip cancellation coverage.
CFAR adds an average of about 50% to an insurance plan’s cost.
Travel delay insurance
Travel delay insurance reimburses you for expenses if you’re stuck somewhere and have to buy necessities to tide you over. For example, if you’re stuck in an airport all day because of a weather delay, this coverage can reimburse you for essential purchases like snacks and toiletries. If you’re stuck for a long time, it could pay for a taxi, a night in a hotel and meals.
Trip interruption insurance
If you have to cut your trip short because of a reason listed in the policy, this is valuable coverage to have. It can reimburse you for the non-refundable parts of your trip that you miss, such as a resort stay or pre-paid scuba diving lesson. It can also pay for a last-minute one-way ticket home if you have an emergency.
Baggage and personal effects coverage
Losing your bags can really ruin a trip. Baggage coverage can at least ease the financial pain a little. It can reimburse you for the bags and clothes and shoes that never arrive, although note that reimbursement is for the depreciated value of the items, not the cost to buy new ones. It also pays out for items lost to theft.
Baggage delay coverage
Your bags may be on their own detour, but what do you do while you’re waiting? This coverage reimburses you for necessities while you wait for your luggage. For example, if you’re in Canada you may need a coat, hat and essential toiletries. Policies usually require a certain time delay before baggage delay coverage kicks in, such as six hours.
Do I Need Travel Insurance?
Here are some reasons you may need travel insurance:
You stand to lose a lot of money in non-refundable deposits if you cancel the trip. Trip cancellation is the coverage you want. It will cover 100% of the pre-paid money you’ll lose, as long as you cancel for a reason listed in the policy,
You’re traveling overseas and your health plan doesn’t have global coverage. Many health plans lack robust global coverage, or impose high out-of-network deductibles for care outside the U.S. Check your health plan details to see what it provides. Travel medical insurance fills the gap.
You’re going to a remote area. If you won’t be near any quality medical facilities, even a small injury could turn into a major medical event. Medical evacuation coverage will pay to medevac you to an adequate facility.
You want emergency backup. The 24/7 travel assistance lines that are included with travel insurance can assist you with finding a pharmacy, language translation, replacing a lost passport and much more.
How to Choose the Right Travel Insurance Policy
Here are key considerations for choosing the travel insurance plan that will match your needs.
Where you’re going. If you’re traveling outside of the U.S., a plan with travel medical insurance is important because you may have little to no coverage under your U.S. health plan. If you’re taking a domestic trip, you likely don’t need it, or you may want to buy low coverage amounts as a back-up.
If you’re taking an international trip, emergency medical evacuation coverage is important to have, especially if you’re visiting a remote area that doesn’t have top-quality medical facilities.
How you’re getting there. Travel plans can be derailed by weather, airplane mechanical issues or any number of other unexpected circumstances. If you’re worried about paying extra money for costs due to a delay, you may want to look for a plan that has a generous amount of travel delay insurance.
What you’re doing. If you have lots of prepaid, non-refundable deposits for activities, lodging and tours, it is especially important to have trip cancellation coverage. This holds true for trip interruption insurance as well.
Travelers who plan to participate in extreme sports or adventure excursions should consider buying a plan that covers these activities, as they’re often excluded.
Concerns about Covid and variants. If Covid is a travel concern for you, look for a travel insurance plan that covers Covid-related cancellations and medical costs. The best Covid travel insurance plans will also include “cancel for any reason” coverage.
How much flexibility you want. If you want the freedom to cancel a trip no matter what, opt for a “cancel for any reason” upgrade. You generally have to buy it within the first few weeks of making your first deposit. Similarly, you can also buy an “interruption for any reason” upgrade that allows you to cut a trip short and return home for any reason.
These upgrades are especially good for the traveler who has put down substantial prepaid, non-refundable deposits.
Do I need travel insurance for a cruise?
Travelers on cruises can potentially lose substantial money, just as much as a traveler on land. Cruise insurance can cover problems such as bad weather that causes a trip delay, or an illness that prevents you from traveling.
Is there travel insurance for multiple trips?
While standard travel insurance plans are meant to cover one-time trips, frequent travelers should consider an annual travel insurance plan. These plans cover the same issues as a single-trip plan, such as trip cancellation and emergency medical situations. But they also offer the convenience of a one-time purchase for multiple trips.
Insurance companies receive hundreds of thousands of claims each year, most of which fit a common profile and don’t raise too many eyebrows.
But every now and then an event occurs that couldn’t possibly have been predicted in a risk assessment or computed by an algorithm.
Insurance provides people and businesses with the security of being protected, no matter how unusual the circumstances may be. So having said that, here are just a few of the most bizarre claims Insurance Companies have seen through the years.
Diesel, unleaded or anti-dandruff?
Shampoo won’t become to newest alternative fuel anytime soon (Credit: PixaBay)
Anyone who’s stepped into the shower and realised they’ve ran out of body wash knows that shampoo will do the trick in a pinch, but unfortunately the same can’t be said for fuelling a car.
According to Northern Ireland-based insurance firm Autoline, one female customer found this out the hard way when she accidentally poured a bottle of shampoo into her vehicle’s fuel tank and had to make a claim with her provider.
Dentures ahoy!
One customer wasn’t smiling anymore when his teeth went overboard (Credit: PxHere)
It’s been said that buying the right insurance is like pulling teeth, but according to insurance comparison website Compare.com, one customer found the opposite when he actually lost his.
After taking out lost baggage insurance for a cruise, the customer made a bizarre claim after he vomited over the side of the ship and lost more than his last meal when his dentures followed it into the sea – lucky for him it was approved.
Third-party, fire and stuck in concrete
Concrete can be devastating for a vehicle (Credit: Flikr/Dhaun)
Allianz has had some weird insurance claims come through the pipeline in 2019, but one of them really takes the cake.
The insurer says a “mishap” from a concrete mixer resulted in 69 vehicles becoming encased in the stuff.
It didn’t report whether or not the claim was paid but we can safely assume the mishap wasn’t specified in the policies of the tradesperson or vehicle owners.
A plumb job
Added pressure set the boiler on a journey of destruction (Credit: PxHere)
Boiler repairs can be a pain for homeowners, so much so that they may attempt a fix themselves, but the details of one insurance claim should convince them to leave it to a professional.
According to Autoline, one man attempted an amateur plumbing job and got more than he bargained for when a build up of pressure caused his boiler to explode with enough force to blast out of the house and damage several parked cars.
The miracle of birth
There’s no report on whether the iPhone ever resurfaced (Credit: PxHere)
Giving birth should be a momentous occasion, but the experience of one farmer from Devon, UK, who helped one of his cows in the delivery process, found that life gives – but it can also take away.
According to Compare.com, the man had to claim on the loss of his iPhone as he said he’d left it in the cow.
Presumably his insurer didn’t wish to investigate further as they paid out in full.
Armchairs to ashes, drawers to dust
There had to be a reason for the ‘dog waste only’ sign (Credit: Flikr/Elliot Brown)
Dog-waste bins don’t come with a sign warning against depositing fireworks into them – but after this insurance claim, perhaps they should.
Allianz received a claim when a lit sparkler stupidly binned among the muck caused a fire that spread to a nearby furniture store, reducing it to ash.
A raid on sanity
One burglar was left with mental scars a huge payout (Credit: Piqsels)
Crime doesn’t pay.
At least that’s what the legal system would like us to think, but the experience of one very wealthy burglar says differently.
The thief-in-question robbed the house of a couple away on holiday, only to be foiled by their faulty garage door.
After being trapped in the garage for a week with his ill-gotten gains, surviving on dog food and carbonated beverages, the couple returned and he made his escape.
Broken by the ordeal, the burglar filed an insurance claim for mental anguish against the couple and was paid out $1m.
