9/5/2008The Morrell Insurance August and September NewsetterIntroduction - Welcome!
The Morrell Insurance Newsletter!This newsletter is sponsored by Wm. E. Morrell Inc.(Morrell Insurance) for the purpose of having our subscribers current on insurance news, products, and services. Our staff hopes you had a Happy Labor Day Celebration.! Well, as "those lazey summer days" took hold of us this August we did not get out the newsletter. So, consider this newsletter for both August and September. Premiums in The Garden State Dropping
Rates have dropped for three years consecutive years
Car insurance rates in New Jersey have dropped for three years consecutive years and are lower now than in 2002 according to a recent study. The statistics were presented by the Insurance Council of New Jersey. The council showed that the average cost for car insurance in 2007 was $1,032 lower than the cost in 2002 of $1,125. The drop was credited to a competitive car insurance market in the state since the laws were changed in 2003 to ease regulations. Since 2003 more than $2.1billion has been returned to policy holders in the form of dividends and rate reductions. See our full article on Premiums in The Garden State Dropping at The Lower New York Insurance Blog. Health Coverage does not Prevent Hospital Infections
General, Product, Professional and Workers Compensation
Your chances of recovering from your illness in a hospital is not only dependent on your medicines, doctors and medical procedures which are covered by your health insurance. Your hospital’s cleanliness may determine how quickly you get well. One out of every twenty hospital patients contracts an infection. These infections kill as many people in the US as AIDS, Breast Cancer and Auto accidents combined. Hospital infections add $30.5 billion to the nation’s hospital costs each year. See our article on Health Coverage does not Prevent Hospital Infections at The Lower New York Insurance Blog. This is one of a two part post on Hospital safety, visit the the second post, just click "Steps to Reduce Hospital Infections". 9/4/2008Premiums in The Garden State DroppingCar insurance rates in New Jersey have dropped for three years consecutive years and are lower now than in 2002 according to a recent study. The statistics were presented by the Insurance Council of New Jersey. The council showed that the average cost for car insurance in 2007 was $1,032 lower than the cost in 2002 of $1,125. The drop was credited to a competitive car insurance market in the state since the laws were changed in 2003 to ease regulations. The analysis shows 2003 reforms are working. Premiums are going down and more insuraqnce companies are entering the market. Since 2003 more than $2.1billion has been returned to policy holders in the form of dividends and rate reductions. Tag: Insurance news
Sponsored by Morrell Insurance Steps to Reduce Hospital InfectionsYou may be fortunate to have medical coverage which covers your cost of medicine, Doctors and hospital procedures for your hospital stay. Did you know one out of every 20 patients in a hospital develop an infection? These infections can double your hosptial stay, make you seriously ill and even cause death. Steps you can take to reduce infection risk while in a hospital - Ask your hospital staff to clean their hands before treating you. This is the single must important step to protect yourself and is recommended by the US CDC. - For center line catheters, ask your doctor about the benefits of one that is antibiotic-impregnated. - Avoid urinary tract catheters if possible. It is a common cause of infection. - For Surgery choose a surgeon with a low infection rate. - Before surgery, begin 3 days before your surgery to bath with chlohexidine soap. - Before surgery ask your doctor to have you tested for methicillin-resistant Stapylococcus aureus. - Stop smoking in advance of your operations. Smokers are more acceptable to infections near surgical sites. - Ask your doctor to insure that you are kept warm during your surgery. - Have your doctor limit the number of personnel in the operating room - Have your doctor monitor your glucose levels during surgery. - Wash your hands frequently during your hospital stay. - Insure that your IVs are inserted and removed under clean conditions. Tag: Insurance news
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Health Coverage does not Prevent Hospital InfectionsWe all know the important of Health Care Coverage / Insurance is when we have an unfortunate health matter that confines us to a Hospital. Your chances of recovering from your illness in a hospital is not only dependent on your medicines, doctors and medical procedures which are covered by your health insurance. Your hospital’s cleanliness may determine how quickly you get well. One out of every twenty hospital patients contracts an infection. These infections kill as many people in the US as AIDS, Breast Cancer and Auto accidents combined. Hospital infections add $30.5 billion to the nation’s hospital costs each year. For example, a surgical infection doubles a patient’s hospital cost. The most important manner to reduce hospital infections is for hospital staff to clean their hands before treating each patient. Research shows that doctors don’t clean their hands before treating a patient half of the time. According to US CDC agency the best way to reduce infections is for hospital staff to clean their hands. Tag: Insurance news
Source: Insurance Advocate - August 2008
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7/18/2008Morrell Insurance July NewsletterIntroduction - Welcome!
The Morrell Insurance Newsletter!
This newsletter is sponsored by Wm. E. Morrell Inc.(Morrell Insurance) for the purpose of having our subscribers current on insurance news, products, and services. Our staff hopes you had a Happy Fourth of July Celebration and continue to enjoy the summer!
Lowering your Car Insurance Cost
Gas is hurting consumers - Consumers lowering their insurance costs?
Since high gas prices consumers have been trying to cut their car costs to compensate for the high cost of fuel.
Did you know that keeping a good credit rating is the best way to lower your insurance premiums? Insurance companies rate driving risk on credit scores. For older cars without loans you may consider higher deductible on collision. Consolidating your home and car coverages with a single carrier can earn you discounts. Travelers Insurance Company is currently offering a program to save consumers 10% on car insurance when combined with a home or tenant policy. See our full article on Ways to save Money on Car Insurance at The Lower New York Insurance Blog. Business Liability Insurances
General, Product, Professional and Workers Compensation
Liability insurance is an important insurance and no business should be without; its purpose is to protect your business’s assets when being sued.
General liability insurance protects your business from liability arising from negligence that may cause injury to others. Product Liability protects your business for injuries as a result of using your product or service. Other Liability insurances as Errors and Omissions, and malpractice cover your liability with your professional work. Workers comp. covers your business from liability from an injured employee. See our article on Business Insurance - Part II - Liability coverages at The Lower New York Insurance Blog. This is one of a three part post on business insurance - the other posts are easily found on the blog. To quickly visit the blog just click "The Lower New York Insurance Blog". Tag: Insurance news
7/17/2008Ways to save Money on Car Insurance1. Use online consumer information and blogs. Online consumer information from your state’s insurance department. The State Insurance Departments supply information on the coverages you require for your state. Some Blogs can also give good information on selecting car insurance. Use an Independent Agent who can quote from multiple carriers. 2. Maintain a good credit history. Most carriers quote your insurance rate using your credit rating. Use of credit ratings for determining auto insurance premiums varies by state and carrier. Statistics show that drivers with good credit tend to maintain their car better and to have fewer accidents. 3. Choose  higher deductibles. Higher deductibles will result in lower premiums. If you can take the risk with lower collision dectuctables, you will have lower premiums. 4. Drop collision coverage on older cars. If your car is totalled in an accident, you receive the actual book value of the car or the Blue book value. For older cars, the premium for collision may not make sense since the value of the car is so low. It may still be recommended to carry comprehensive coverage. This will cover glass breakage, theft and fire. Comprehensive coverage is usually not as high as collision coverage 5. Own a car that is inexpensive to fix. If you carry collision then you want to own cars that are not expensive to repair. 6. Ask about discounts on safety equipment and other safety features. You may be entitled to discounts for air bags,  antilock brakes, and anti-theft equipment. 7. Have your homeowner and car policies from the same carrier. This is called  a multiline discount. Currently Travelers Insurance Company is offering multiline discounts. 6/25/2008Morrell Insurance June NewsletterThe Morrell Insurance Newsletter!
This newsletter is sponsored by Wm. E. Morrell Inc.(Morrell Insurance) for the purpose of having our subscribers current on insurance news, products, and services. Our staff hopes you had a Fun and Observant Memorial Day Weekend, a Happy Father’s Day and a Happy Fourth to come.
Rental Car Coverages - CDW, LDW
Should you purchase the CDW and LDW Coverages?
When renting a car one needs to decide either to purchase the CDW and LDW coverages or not. Since your personal auto policy offers coverages for a rental car, it is tempting not to take the coverages. LDW is an abbreviation for Loss Damage Waiver and CDW is an abbreviation for Collision Damage Waiver. You will notice on the waiver form you will not read the word "insurance" - this is because the coverages provided by the rental car company do not met the regulations mandated by your state’s insurance department or commission.
Few States such as New York state have good legislation on rental car coverages and how your personal auto policy can cover you with a rental car. Most likely you will be renting a car out of state. See our article on Rental Car Coverages at The Lower New York Insurance Blog. Construction Insurances
Builder’s Risk vs Completed Operations
Building contractors as with most business owners carry general liability and workersÂ’ compensation insurances. There are other important types of insurance for building contractors to consider. Two other coverages are BuilderÂ’s Risk and Completed Operations. Contractors may want to consider these two addition coverages.
See our article on Builder’s Risk vs Completed Operations insurance coverages at The Lower New York Insurance Blog. Other posts are easily found on the site. To quickly visit the blog just click "The Lower New York Insurance Blog". See the full Morrell’s June newsletter. Insurance NewsDo I Purchase Rental Car CDW and LDW?Typically the CDW/LDW charges for rental cars are considered outrageous. Since the cost for these coverage are so high, most state’s insurance regulators do not allow them to be called "insurance coverage". The word "insurance" is typically left out of the wording in your rental car contract! Instead you will see the wording Collision Damage Waiver / coverage and Loss Damage Waiver/coverage. Your personal auto policy has coverages that protects you when driving other vehicles as rental cars. Although you may have this coverage you may still want to consider purchasing the rental car provided coverages. Although high cost, the insured is best advised to purchase the CDW/LDW for short-term rentals. This is not only in the best interest of the insured, but also for the agent since an inadequately covered loss may result in the loss of an account. Your Personal Auto Policy may have limitations on the use of vehicles you drive. For example you may not have any physical damage coverage for the business use of non-owned trucks or vans. 1. Rental Car’s Valuation and Loss Settlement Your Personal Auto Policy covers the lesser of the "actual cash value" of the vehicle or the amount "necessary" to repair or replace the damaged vehicle. Your rental agreement may contractually obligate the insured to reimburse the lessor for the "full value" of the vehicle. Hence this may result in the insured being significantly under-insured for is rental car damage. Your Personal Auto Policy may require that an adjuster is allowed to evaluate the damage of the rental car before paying for repairs, but the rental car company may choose to fix the car immediately. This may leave you without coverage for failing to comply with the agreement to allow an adjuster to evaluate the damage. 2. Indirect Losses and Administrative Expenses The insured may be responsible for the Renter company’s loss of rental income on the damaged unit. Your Person Auto Policy has, caps for this loss in both amount and time. And some policies only cover loss of income resulting from theft. Your rental contract may make you the insured responsible for various "administrative" expenses such as towing, and claims adjustments etc. 3. Other Insurances or Coverages You may have coverage for rental car loss from your credit card or travel policy - great -but it not always clear which coverage pays first. The potential controversy over who pays what is obvious and can result in litigation. Certain US states and New York is one of the few that has enforced regulations on how to handle the other insurances with the appropriate forms to help resolve and avoid litigation. 5/25/2008Commodities Prices Increasing - Insurance Costs DecreasingRise in Commodity Prices We have all read about and personally experienced when shopping the higher cost of food, home goods and energy. The markets that deliver the pricing for these commodities, when working efficiently, will determine the proper price by evaluating the current supply and demand of each commodity. As third world countires increase their standard of living, their people will do what we do - purchase better, safer and enjoyable foods, use cars for transportation and heat and cool their homes to seasonal changes. This creates a large increase in demand for these commodities while the suppliers of these commodities can not increase supplies instantaneously. Since grains take a growing season to come to market, oil takes years of drilling to come to market when it is allowed, the supply can not change instantaneously, so prices increase until supplies increase or if demand reverses and decreases. Insurance now becoming a commodity Over the years insurance has been standardized. Homeowner policies are sold with standard policies as HO1, HO2 and alike. Auto policy coverages and limits have been standardardized, the typical, liability, collision and comprehensive liability with standard limits 300K and 500K. This standardization creates easy comparison for the consumer and allowing the product presentation to become more as a commodity. The Commoditizing of a product lowers price since it creates the highest effeciency in the market place. Insurance policies unlike grains and energy can be produced immediately if capital reserves are available. So Supply and Demand can adjust quickly. Although commoditizing and the lower ing of prices for insurance policies still benefits the insurance providers by never creating an over supply of policies that they must sell at a loss. Selling at a loss may happen with grains and other commodities, as an example, when a farmer must sell his/her grains at a loss because of over production which creates over supply. The farmer can not instantaneously stop production since production takes a growing season. Insurance companies must still worry about an over supply of participants in the insurance markets. These participants create competition by deploying better cost effictive ways to produce, sell , hedge and handle their operations to create a more efficient product dilivery. Great for the consumer! Goverment Intervening in Markets to help Consumers I as most persons are tempted for our government to step in and force lowering of prices instead of having supply and demand to determine the price. But if we step back and look at the reprecussions when the markets are controlled we find historically they do not work efficiently - more on this later! This is not to say that the participants in these markets should not be regulated. In fact, the best senario is to have fair markets determine the pricing while goverment or regulatory bodies regulate the market participants that sell in the market. We all want standards in place regulated by our goverment for our food safety (FDA) , energy products (pollution limits, BTU per Unit etc. ) and to insure proper and consistant insurance policy coverages. Each state has an insurance commission or department to regulate insurance sold in their states - this is a good since it holds up quality and standardizations for the industry. Back to government intervening in price controls. When Government tries practicing price control it rarely if ever works to the consumer favor. Looking at history, just ask anyone who lived in Russia or China during the past century. The governments there controlled pricing having their citizens to wait on long lines for products (even years to buy a bicycle), deal with forever shortages and live thru market conditions that created not having supply and demand adjust with market forces. Our US governments have tried price control with failures also. In the 1970 we had an oil embargo where the governement set price limits on gasoline. This price control did not encourage conservation since it kept the price lower than the market would have, and created shortages of gas at the pumps requiring long lines. In the 80’s - 90s Tri-State state governemnts tried to mandate the insurance companies to charge less for policies although in a very competitive market place. This just caused insurance companies to pull out of writing in the state creating less competition. Then later states insisted on having the insurance companies to offer lower limits. This was a move with good intention but not well thought out. Since the people that carried lower limits (under 50K coverage) created a cost burden on other policies holders with their unisured and under insured coverages. Just to review, your auto policy may have coverages for accidents where the other party is at fault and the other party does not carry the proper insurance to cover your losses. When others do not carry the proper limits you end up picking up the tab! Government Stepping Up to Regulate Wisely The States in the Tri-state area during the 2000’s have used regulation wisely. They now hopefully understand that market forces is the best method for pricing and good regulation is best to set an environment to lower cost. The goverments have executed plans to stop insurance fraud from repair and body shops, committed resources to better our roads by adding more lighting, better controlled intersections, better lane markings, better barriers, and having car companies manufacture safer cars, and with enforcing Tort legistation. All of these changes reduced bodily injuries, saved lives and reduced property loss. Now over the past years car insurance is easier to obtain and prices are much more affordable. Allowing the markets to work for pricing with proper goverment regulations to create a safe driving environment and insurance regulations for policy standardization has helped lowered our car insurance costs. Source: Morrell Insurance 5/23/2008Insurance BlogWe have another small companion Blog to The Lower New York Insurance Blog. See Below for more insurance topics and news. 5/14/2008Contractors - Builder’s Risk vs Completed OperationsConstruction Contractor Insurance Building contractors as most business owners carry general liability and workers’ compensation insurance. This post discusses two other types of insurance for building contractors. Builder’s Risk and Completed Operations are two addition coverage which Contractors may want to consider. Builders Risk Builders Risk insurance covers a builder’s property during the construction cyle. Property coverages may include:
Completed Operations Insurance covering contractor’s liability after completing an operation or project. Covers injuries or property damage suffered by another party as the result of the contractor’s work of completing the project. Contractors are required to take reasonable steps to insure a completed construction project is safe and void of reasonable hazzards and dangers. The coverage does not cover damage to the completed project property. Wm E Morrell Inc of White Plains NY, providing New York Contractor Insurance. 5/9/2008Morrell’s May NewsletterIntroduction - Welcome! The Morrell Insurance Newsletter! This newsletter is sponsored by Wm. E. Morrell Inc.(Morrell Insurance) for the purpose of having our subscribers current on insurance news, products, and services. Our staff hope you had a joyous Passover Holiday. May Day, May 1st is International Worker’s Day. Something new! We added to our mailing list our friends at Merchant Circle, an online network of businesses in our local area. Traveler’s discount on Homeowner Insurance Discount up to 10% on new home purchases! Traveler’ Insurance is offering a 10% discount on homeowner insurance policies for new home purchases. The purchased home does not need to be a newly build house, just a new purchase. They have also introduced a program that provides discounts for clients when writing both their homeowner and auto insurance policies. If you have any questions a Morrell insurance staff would be happy to help you. Business Interruption Insurance The Lower New York Insurance Blog A few months ago we introduced our subscribers to the Morrell Insurance blog "The Lower New York Insurance Blog". The Blog is used as a repository for past newsletters posted under the category "insurance new". For this months newsletter we would like to use our blog to provide information on Business Interruption Insurance. The topic is presented by four posts: 1) Business Interruption Insurance, 2) Business Interruption - Contigent, 3) Business Interruption by Civil authority order and 4) Business Interruption Insurance - Ingress/Egress. To view the first two posts, just visit our blog at "Business Interrruption Part 1" and "Business Interruption Part II " The other two posts are easily found on the site. To quickly visit the blog just click "The Lower New York Insurance Blog". Source: Morrell Insurance May Newsletter See New York Business Insurance for more information on Business insurance.
5/6/2008Business Insurance - Part III HealthProviding employee benfits for your empployees is a way to mantain competitive in recruiting good talent.Your businees may provide employee benefits such as medial, dental, and disability benefits. Othe employee benefits are flexible spending accounts, 401Ks (US) and vision plans. These plans can be constructed in may different forms. There are HMO, PPO and POS plans that can be tailored specifically for your business health coverage. Some have high detuctables but provide good catastrophic coverage. Others have lower deductables but higher premiums. To see the first post of this 3 part topic, see Business Insurance - Part I Property Sponsered by Morrell Insurance, offering New York Business Insurance quotes Tag: Insurance Business Business Insurance - Part II - LiabilityLiability insurance is very important type of insurance and no business should be without; its purpose is to protect your business from being sued. General liability insurance protects your business from liability arising from negligence that may cause injury to others, such as a customer or employee. It also protects your company if someone is injured as a result of using your product or service. When you consider that the legal expenses and settlement or judgment expenses of a single lawsuit could drive your business into bankruptcy, you’ll see why this kind of insurance is considered a "must-have". If you sell manufactured or assembled goods, check and see whether or not your general liability insurance policy also covers product liability. If not, you’ll want to add this type of specific liability insurance to your package. If you’re a professional, such as a doctor, lawyer, architect, contractor, officer or realtor, you should also consider carrying professional liability insurance. Types of professional liability insurance range from malpractice insurance for those in the healing professions, through errors and omissions for business professionals. If in doubt about what kind of professional liability insurance you should be carrying, consult your insurance professional. Other types of professional liability insurances are Directors and Officers, and Employee Professional Liability Insurance. If you have employees, workers’ compensation insurance is also mandatory in most states in the US. This covers an employee if injured on the job. The rates for this coverage varies with the work type of the employess in your business. Roofing professionals have higher worker’s comp rates than office workers. For part 3 of this topic see Business Insurance - Part III Health Sponsered my Morrell Insurance, offering New York Business Insurance quotes Business Insurance - Part I PropertyUnfortunately, insuring your business is not as simple as insuring your car. Because your business is unique, you’ll need to design a package of insurance that meets your business needs while providing the level of protection you’re comfortable with. Your first decision is to decide which types of insurance your business needs. This three part article outlines the types of business insurance that small businesses might need, including propery insurance, professional liability insurance, disability insurance, and business interruption insurance. The main types of business insurance that all businesses need are property, liability (General, Product, Professional) insurance and health coverage insurances. Property insurance protects the assets your business owns, including the building and equipment, from destruction or damage. Other coverages are business interruption coverage. Contents insurance protects your business equipment from perils such as fire, flood, or theft. To determine how much property or contents insurance you’ll need, create an itemized list of your business’ assets and their individual dollar values. Then decide which assets you actually want to insure and for what value, which will determine the insurance premium.In some cases, you may decide against insuring a particular asset, because it just doesn’t warrant the cost of the premium. In other cases, the premium may be well worth paying. Ask yourself, if this equipment, such as a computer, was stolen, would I be able to afford to replace it? If the answer is no, you should insure it. You can obtain other coverages for your business as a form of property insurance business interruption coverage, a separate 3 part post coveres this topic. For part 2 of this topic see Business Insurance - Part II - Liability Sponsered by Morrell Insurance, offering New York Business Insurance quotes insurance businessBusiness insurance and Tax deductionsBusinesses are allowed to deduct the costs of doing business from their income for the determination of federal taxes. Premiums paid for most business insurance are deductible. Both IRS Form 1040 and IRS Publication 535 include worksheets designed by the IRS to guide the business owner in calculating the deduction. Both IRS Publication 535 - Business Expenses and IRS Publication 334 - Small Business Tax Guide, are online and an excellent resource for business owners. Specifically, Chapter 6 of Pub. 535, provides some solid starting information on the deductions.] There are two general rules that apply to the deductibility of premiums.
The IRS lists (in Pub. 535) the following as generally accepted premium deductions:
Source: Insureme.about.com Sponsered by : Morrell Insurance - New York Business Insurance 5/5/2008Promote Your Blog - RSSHugger.COMA great place to look for Blogs is at RS - Hugger. This is a great site to register your blog and to look for intereting blogs to read. They have many categories to list blogs under allowing for easy finding of blogs for the topic you are interested in reading Insurance Resources Online: provides online insurance resources, including insurance guide, insurance company directories, insurance quotes, etc. LookInsuranceSite.com - Online Insurance Directory. Snorkeling Equipment Scuba Gear 4/28/2008Court Rules Landlord’s Insurance Covered Tenant SlayingCourt Rules Landlord’s Insurance Covered Tenant SlayingA landlord’s insurance policy covered the fatal stabbing of a tenant, New York’s highest court ruled today. The Court of Appeals decided, 7-0, that the policy from the United International Insurance Company bound it to defend and indemnify Agoado Realty in a suit brought by the family of a slain tenant, Miguel Felipe. The suit claims negligent security by Agoado. Mr. Felipe was stabbed to death in one of Agoado’s Bronx apartment buildings in May 1996. His killer has never been found. The insurance company contended that it was notified too late of the suit. In addition, it said its policy covered only accidental ‘’occurrences'’ and not an intentional act to injure another person. But the court ruled today that it ‘’cannot seriously be argued'’ that the slaying was intentional from the landlord’s viewpoint. For liability purposes, the killing was accidental from Agoado Realty’s standpoint, the court said in a ruling written by Judge Richard C. Wesley. Agoado Realty’s lawyer, Robert Goldberg, said both landlords and tenants would gain by the ruling. ‘’The ramifications would have been that landlords would have purchased insurance, and if anyone had been injured by an unintentional act by anybody, they would get no coverage,'’ Mr. Goldberg said. ‘’That would have been disastrous.'’ Mr. Goldberg said it was another matter if a landlord chose to negotiate a policy with an insurer that contained an assault exclusion in return for lower premiums. But in this case, Agoado Realty believed it was paying for coverage against suits like the Felipe family’s. Source: New York Times - 2000 Sponserd by Morrell Insurance 4/23/2008Car Insurance for Teenage DriversThe statistics about teenage drivers aren’t good. According to the Insurance Institute for Highway Safety (IIHS), 16-year-olds get into accidents almost six times more often than drivers between the age of 30 and 59. No wonder car insurance premiums are so high for this age group.
However, not all car insurance companies take the same dim view of young drivers. And some discounts are available to help you cut costs. Remember, the higher the risk, the higher the cost of insurance premiums. Let this be your guiding principle as you shop for insurance. Here are 10 suggestions to help lower premiums and keep your teenager’s license free of violations: 1. Help your teen learn the laws and follow them to the letter. By far, the best way to lower car insurance costs for teens is for them to keep their driving record clean. Make safe driving a family project. In some states, restrictions apply to new drivers. Parents should know what the laws are and insist that their sons and daughters follow them. 2. Set a good example. Do you break the speed limit and tailgate? Do you yell at other drivers when you’re behind the wheel? If you do these things, how can you expect your children to act differently? Start watching your own driving long before they get their license and you’ll have a much easier time convincing them to be safe drivers. Remember, actions speak louder than words. 3. Put your teenager on your policy. Rather than setting up an independent policy for your teen driver, put them on your auto insurance policy as an additional driver. In this way, all the discounts applied to your policies will be passed on to them. 4. Pay your teenager to get good grades. Here’s a creative tip to find out how much you save if your teenager gets a good grade point average and pass it on to them. Usually, having a 3.0 or higher GPA will reduce your car insurance premium by 10 percent. Figure out exactly how much this saves you and give that money to your teenager. This accomplishes two things. First, it provides a direct reward for academic performance. Secondly, it motivates them to continue getting good grades. 5. Enroll them in driver education courses. Discounts are available for teens who take recognized driving classes. But call your car insurance company to find out which schools are covered before paying big bucks. 6. Steer clear of sports cars. Getting your teenager a safe car to drive, with the latest safety equipment, will lower your premiums. Not only will you save money on car insurance, but fast driving will be less of a temptation. 7. Get their support. Don’t assume that your teenager wants to vacuum clean your wallet. Ask them for help cutting costs and point out that you will share in the savings (see rule #4). Tell them how much car insurance costs and show them how this fits into the family budget. If nothing else, you will score points for treating them as adults. 8. Talk to your kids about drugs and alcohol. This is a tough subject to broach with teenagers, who think they have everything under control. But the consequences of saying nothing can be catastrophic. Take the time to lay down some guidelines in this important area. 9. Take traffic school to beat tickets. Once a ticket is on your teen’s license, it takes months to get the violation removed. Instead, encourage them to take traffic school if the judge allows it. A day spent thinking about the consequences of unsafe driving can bring rewards for years to come. 10. Ride with your teenager. Your teenager was a safe driver last year when he or she got a license. But what’s happened since then? Let your son or daughter take the wheel while you sit back and relax in the passenger seat. If you see them doing something that breaks rules or seems unsafe, point this out in a diplomatic way. If they are doing a good job driving, praise them for their efforts. If you follow the above suggestions, you will find that you can make it through the teenage years safely and without paying an arm and a leg for car insurance. It just takes cooperation and understanding from both sides of the generation gap. Source: Edmonds
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4/22/2008Business Interruption Insurance Part IV - Impairment to Ingress and EgressCoverage for impairment ingress/egress requires five basic conditions:
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