There Are Proven Ways To Reduce Your Auto Insurance Premiums

Auto Insurance

When it comes to purchasing auto insurance, having options can be a very important way to save money. Putting money back in your pocket is one of our primary goals.  We know and understand the auto insurance market.  This allows us to provide you with the best possible combination of pricing, coverage and service.

Auto insurance rates differ from company to company, so it really pays to have us shop your insurance. Some markets offer better rates for trucks, RV and campers, while others can offer better rates for motorcycles.

How to reduce your auto premium

There are many things you can do to keep your auto rates at the lowest level possible.

Review your deductibles. According to the Insurance Information Institute, raising your deductible from $200 to $500 could reduce your Collision and Comprehensive costs by 15 to 20 percent.

Encourage your student driver to get the best grades possible. Most major insurance companies offer a discount for students in good academic standing.

Select a safe car. Check out which cars are popular with thieves and avoid them. Also, the more expensive the car, the higher the premiums.

Be a safe driver. The more accidents and tickets you have, the higher the premiums will be.

Purchase a car with an alarm or LoJack. LoJack® Stolen Vehicle Recovery System provides car owners with peace of mind knowing that if their vehicle is stolen, they have the best chance of getting it back.

Be loyal. Many auto insurance companies offer loyalty discounts if you stay with them over time.

Check for other auto insurance discounts. These might include taking safe driver courses, senior discounts and more.

You might be able to pay less for your car insurance premium and not even know it. So it pays to connect with us to review your insurance needs.

Personal Umbrella Insurance

You’ve worked hard to earn your lifestyle. Consider adding additional liability protection to your Texas Auto, Home, Renters or Condo policy. Personal Umbrella Liability coverage added to your other policies can protect you, your spouse and any relatives living in your home. Let the staff at Heaton Bennett Insurance show you the value of an umbrella liability policy.

Umbrella Insurance Protection

Umbrella Insurance provides extra protection or limits above the liability insurance you currently have. Just as an umbrella protects you from heavy rain, an umbrella insurance policy protects you from losing the entirety of your wealth and assets in the event of a claim. Umbrella insurance can provide limits above your business insurance, personal auto and home policies.

Umbrella insurance provides broad insurance beyond traditional insurance. It provides additional liability coverage above the limits of your primary insurance policies. It can also provide coverage for claims that may be excluded by the primary policies

It is true that personal umbrella insurance may not be for business or individual, but if you are a business, wanting to protect your company’s resources, building financial resources for your future, are a professional, own your home, boat or recreation vehicle, you should consider an umbrella insurance policy.  Having the added protection of an umbrella insurance policy is coverage no one should go without. Call us today, for a free review.

High Net Worth Individuals

Do you own a boat, second home or have other expensive toys? Often high net worth individuals need higher liability limits to protect personal assets. A simple rule is, the more you own the greater risk you may have of losing it. The nice thing about an umbrella policy is that it is competitively priced. Usually, it costs about $300 per year for each $1,000,000 increment of insurance that you buy, and it can bring you great piece of mind.

 

2017 Was A Tough Year For Many Insurance Companies

2018 is here, and 2017 is in the rear view mirror.  Last year we saw and experienced many hardships and disasters, but also hand many successes.  We hope 2018 brings you much happiness and success.  2017 was a year in which many entire communities were destroyed by storms and wildfires, 20 million or more people experienced an identity theft, and a number of women come forward describing their sexual harassment.

Here is a list of the top risk issues for 2017

Wildfires in California and Oregon – over $4 billion in damage

Storms in Texas, Florida, and the Northeast

Flooding in Texas, Oregon, and most of the Midwest

Identity theft and cyber breaches

An increase in sexual harassment claims

The continued evolution of driverless vehicles

The regulation of drones

Advances in home technology

Retention of key employees

The ability to attract quality workers

Terrorism

Random shootings

Over the next few months we will try to help you develop a clear plan on how to manage these risks. Please contact our office and we will be happy to help you identify what is important to you and then put together a plan to help you manage you risks most effetely.  Here are just two.

Identity Theft and Cyber Breaches

Identity theft insurance provides reimbursement to victims for the cost of restoring their identity and repairing credit reports.  This type of insurance will help you with certain kinds of expenses to aid you in restoring your credit. Cyber policies cover the liability arising from website media content as well as breach related property losses such as: (a) business interruption, (b) data loss/destruction, (c) computer fraud, (d) funds transfer loss, and (e) cyber extortion.  It can also provide notification and other services for a covered loss.

Harassment Claims

Your business must address this issue head on.  First, you need to secure employment practices liability insurance.  This insurance will offer defense and indemnification coverage should you be involved in an employment litigation.  Second, your business needs to have a clear anti-discrimination policy.  The policy should include reporting procedures and anti-whistleblower provisions.

 

 

Why Should Businesses Consider Employment Practices Liability Insurance?

If you have employees, you are exposed to potential employment liability claims. Employees know their rights, and it is time for all employers to be more informed about how to protect their companies. There are many reasons why you need to make Employment Practices Liability Insurance (EPLI) part of your commercial insurance program.

EPLI covers the company and board

An EPLI policy covers claims made against directors, officers, employees, the company, and its subsidiaries. The policy can cover a long list of claims including wrongful dismissal/termination, sexual/racial/disability harassment, sexual/racial/disability/religious discrimination, employment related libel, slander, defamation and invasion of privacy, wrongful failure to employ or promote, and retaliation

Increased claims

It’s becoming harder to ignore the “me culture” which continues to gather momentum. Small and medium sized businesses saw the largest increase in employment practice liability claims in 2013; up 33% according to human resources experts. The average claim cost is over $150,000 and is growing yearly.

Company reputation

A company’s reputation in the marketplace can be severely damaged by employment practice claims. The negative publicity may be followed by potential reluctance of your clients and/or suppliers to trade with your company.

Free legal help

Most EPLI policies provide free legal resources for firms to use. You can call an attorney to help you through a tough issue.

Cost is very competitive

EPLI premiums are not as high as you might think. Premiums can run much less than the cost of defending just one occurrence.

We can design a specialized package according to your property, liability, and casualty needs. We are also proactive in identifying any factors that may increase your premiums or change your risk, and provide consulting and risk management options to protect your business. We are ready to help you better understand your risks. Please call our office today.

 

How To Reduce Slip And Fall Accidents At Your Business

Business Safety

Slip and fall accidents are some of the most common accidents you can have as a business owner. Slips, trips, and falls constitute the majority of general industry accidents. They cause 15% of all accidental deaths, and are second only to motor vehicles as a cause of fatalities. You have customers, clients, vendors, employees, and family members on your premises every day.  “Slip and fall” is a term used for a personal injury case in which a person slips or trips and is injured on someone else’s property. These cases usually fall under the broader category of cases known as “premises liability” claims.  Slip and fall accidents usually occur on property owned or maintained by someone else, and the property owner may be held legally responsible.

In order to recover damages for a slip and fall injury sustained on another’s property, there must be a responsible party whose negligence caused the injury. However, most business insurance policies have premises liability coverage which allows for claim payment without the need to prove liability.

Slip And Fall Prevention At Your Business

Maintain all walkways and common areas.

Use anti-skid adhesive tape in high traffic areas.

Display wet floor signs when appropriate.

Keep all work areas, passageways, storerooms, and service areas clean and orderly.

Have proper lighting in parking lots and entrances.

Keep walk ways free of ice, snow, or other items that might cause someone to slip.

Have a procedure to deal with spills and ensure spills are reported and cleaned up immediately.