Monday, 14 November 2016 / Published in Uncategorized

INSPECTING INSPECTIONS

Inspecting Inspections

by  | Jan 24, 2018 | Home, Insurable Interest, Kalamazoo

What to expect after an insurance inspection

Purchasing a home can be stressful. Between the inspection, appraisal and not to mention all the paperwork, most people are just ready to move in by the time they get the keys. What many people don’t realize is that after they write a new home policy for the property, the insurance company will also be doing their own inspection. Here are a few things we commonly see come up on the insurance inspection:

  1. Tree contact with roof – Even just one little branch can cause the insurance company to recommend the owner trim the tree back and provide photos of the completed work.
  2. Siding damage – From a small cracked section to deformed siding, the insurance company could require the siding to be repaired or you may face non-renewal when the term expires.
  3. Steps missing railing – If there are 3 or more steps (depending on the height of the steps) that do not have a railing, it is likely that your insurer will request that one be added.
  4. Roof damage – Shingles flipping, curing or losing their granulars would be a cause of concern for an insurance company, depending on how bad the shingles are. This could result in an expensive requirement from the insurer to have you replace the roof entirely, or the area in question.
  5. Pets – Some insurance companies are limited in their appetite for certain dog breeds. Failure to disclose that you have a dog, especially if it is a breed in question, can result in something as severe as a 30-day cancellation notice from your insurance company. We have had this issue come up several times after an inspection was performed by the insurer.
  6. Pool without a locking fence/gate – Most insurance companies will require that if you have a pool, it be fenced with a locking gate. Be sure to disclose if you have a pool to your agent when getting a quote.
  7. Condition of outbuilding – Sometimes a shed gets neglected, and insurance companies may recommend that it be repaired or removed from the premises depending on how far gone an outbuilding is.
  8. Occupancy – Insurers often notice if a home is not yet occupied from the inspection report. It is important to disclose when you are planning to move into the home if there is a significant delay from the date of purchase to the date you plan on moving in.

An inspection report is not something you will likely get directly from your insurance company, but that your agent may contact you if there are required repairs. Your agent can often provide a copy of the inspection report should there be any dispute on the repair in question.

About the author: Read Aaron’s other posts
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Aaron joined Whitaker-LaChance in 2014 as a Personal Insurance Customer Service Representative. He brought with him extensive customer service experience from working in a retail professional camera store and computer electronic store in Chicago. Aaron is in Sales for both Commercial and Personal Lines, and assists in the Commercial Lines department. His expertise is in working with our clients to make sure their insurance program takes care of them through all the changes in life. Aaron is a graduate of Kalamazoo Home School Association and attended Columbia College in Chicago, where he studied Graphic Art Design. He is an avid photographer and enjoys fishing.
Monday, 14 November 2016 / Published in Uncategorized

WHAT MAKES IT A HOME?

What Makes it a Home?

by  | Oct 19, 2017 | Home, Insurable Interest

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by: Aaron Whitaker

You bought a house, and moved out of the old one but it hasn’t sold yet. If you go back to the old house almost every day, would it still be considered owner occupied by the insurance company? The answer is likely to be yes if the named insured is not currently living in the home. Dwelling Fire policies for homes can often be twice the cost of a home policy. Let’s take a look at a few reasons why you would need to move the home onto a Dwelling Fire policy and when you would need to do so.

When do I need a Dwelling Fire policy, and why?

A home insurance policy is designed to provide insurance on a home that is owner occupied. If you no longer live in the home or live in the home less than 6-7 months out of the year (# of months depends on the insurance company, if partial occupancy is allowed at all), and do not rent the home out to others when not occupied by the named insured, your home may no longer be eligible for a home policy.

If the home is rented to others, a dwelling fire policy could be a good option. Some insurance carriers will allow rental of the home for a few months out of the year. Keep in mind that insurance carriers often will not accept daily/weekly short term rental use. If they do allow rental of the home at all, it would based on a contract between you and the renter per month or longer, so long as the home is still owner occupied most of the year.

It might seem tempting to just leave a home that no longer meets the eligibility requirements of the insurance company for a home policy on its current policy even though you have moved out. Doing so could actually violate your home policy contract, with your insurance company, and if you are found to have violated your insurance contract the insurance carrier can actually deny claims in the event of a loss that would have been covered otherwise. You wouldn’t want to have the house burn down and have your insurance carrier deny the claim just because you were trying to save a few bucks.

There are several different kinds of Dwelling Fire policies. I’m only touching on two common types of Dwelling Fire policies today. The first is commonly called a “landlord” policy. As you can guess, it is for homes that are rented out to others. The second is commonly called a “vacant” policy. This is used for any dwellings that are not currently being occupied.

Occupancy is often disputed by insureds but, at the end of the day, it is how the insurance company defines occupancy that matters. Usually occupancy at least starts with someone actually sleeping in the home regularly, and actually using it as a home. Just because you go over there everyday to check up on the home does not mean that the home is occupied.

Vacant policies are often more expensive than landlord policies due to the increase risk exposure e.g. if a fire starts in a vacant home, the fire department won’t likely be called unless the neighbors notice, and by that time the home could be a much more significant loss than if the home had been occupied and the fire department notified earlier.

It is important to review your policies with your local agent when there are any significant changes in your life. As you can see above, occupancy can require an entirely different policy than you may currently have. Be sure to review all of your policies regularly, and don’t hesitate to contact your agent for help.

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 @WLAinsurance    www.WhitakerLaChance.com    (269) 324-7700

 About the author:
Aaron-Whitaker-300x300Aaron Whitaker joined Whitaker-LaChance in 2014 as a Personal Insurance Customer Service Representative. He brought with him extensive customer service experience from working in a retail professional camera store and computer electronic store for three years in Chicago. Aaron manages all personal insurance placement, marketing, account service and claim management. His expertise is in working with our clients to make sure their insurance program takes care of them through all the changes in life. Aaron is a graduate of Kalamazoo Home School Association and attended Columbia College in Chicago, where he studied Graphic Art Design. He is an avid photographer and enjoys fishing.

Monday, 14 November 2016 / Published in Uncategorized

SAVING MONEY WHERE YOU CAN

Insurable Interest

by: Eric Wagaman

A common question that is often brought up when I am sitting down with an insured or prospect is none other than, “how can you save us money?” As a recent college graduate, I can fully understand saving every penny when possible and maximizing your income. Auto insurance in Michigan can be rather expensive. Why not try to save money where you can? If price is your driving factor in determining the insurance you choose, then this is written for you.

Raise Your Deductible

The deductible can play a big role in the cost of your premium. Typically, the lower the deductible will lead to a higher premium. So inversely, raising your deductible can in turn lower the total cost. Although, when you raise your deductible, you are taking on more of the risk in the event of a loss.

Remove Collision

Collision coverage is in place for when your vehicle collides with another vehicle or object whether you are moving or not. Seems like a pretty valuable coverage, right? For example, if you were involved in a collision and your 1981 Honda is totalled, how much would you actually be covered for if you had collision coverage? This would pay out on an actual cash value basis which is the depreciation of the vehicle subtracted by the replacement cost. I know what you’re thinking, “It’s an ‘81 Honda, how dare you,” but if the vehicle isn’t worth a whole lot, is it worth carrying collision on the vehicle? That depends entirely on the amount of risk you personally would want to retain in the event of a loss.

Kick the Kids Off

Is your child out of college but still living in your home? An easy way you could save some money on your auto insurance could be to move your kids to their own auto policy. Young drivers could potentially hike up the price of your policy.

Discounts

There are several discounts available that can save you small, or even significant, amounts on your premium, depending on your insurance carrier. There can be discounts for being a member of a credit union, alumni association, and more! To make the discount even greater, there is always the multi-policy discount available as well, depending on the insurance carrier.

Whether you are looking to save money or are shopping for insurance, keep these money saving tips in mind. For a visual approach to saving money on auto insurance, check out “6 Tips to Save on Auto Insurance,” by Aaron Whitaker.

LINK: https://chrpartnership.com/6-tips-to-save-on-auto-insurance/

About the Author: Read Eric’s other posts
Eric WagamanEric joined Whitaker-LaChance in 2016 as a Brand Marketing and Development Intern and is a licensed property and casualty producer. He graduated in 2017 from Western Michigan University in their nationally ranked Sales and Business Marketing program. Eric manages all personal insurance placement, marketing, account service and claim management. He is a driven individual who is passionate about meeting the needs of others by going beyond their expectations. During his free time, Eric enjoys golfing, being active, attending sporting events, camping and indulging in new restaurants.

Thursday, 10 November 2016 / Published in Uncategorized

INSURABLE INTEREST

Insurable Interest

by: Stephanie Pichan

When my house is messy or my desk at work is disorganized, it can be difficult for me to relax and focus on the task at hand. Can you relate? There are a rare few people out there who work better when things aren’t neat and tidy, but if you’re anything like me, when things are in disarray it interferes with my productivity; I even sleep better when everything is put in its place and, according to the National Sleep Foundation, I’m not the only person who feels that way. Results from a survey they conducted found that those who made their bed were 19% more likely to report getting a good night’s sleep. That’s enough for me to start making my bed in the morning!

I find that it’s most helpful to be proactive and take steps daily to try to keep things from getting out of hand in the first place. Here are some tips you can give a try:

Do a little at a time. If you have a lot that needs to be tended to, tackle one drawer or one closet at a time. Schedule it in your calendar.

Create a place for everything. When you have a place for everything it’s easier to put things away and (bonus!) you always know where to find it.

Empty your car. Don’t leave stuff in your car unless it is supposed to stay in there. It’s easier to take out a few things each day than loads of stuff later on.

Do a quick tidy up. Instead of sitting there feeling stressed and unproductive, get up and decide to dedicate 20 minutes to do a quick tidy up to clear the space you’re sitting in. It’s amazing what you can do in just 20 minutes.

Make your bed. In addition to helping you sleep better at night, I once read a commencement speech by Naval Adm. William H. McRaven on the 10 lessons he learned from basic SEAL training. He said,  “If you make your bed every morning you will have accomplished the first task of the day. It will give you a small sense of pride, and it will encourage you to do another task and another and another.”

Don’t go to bed with a dirty kitchen. It’s 9:30pm, you don’t feel like cleaning your kitchen and tell yourself you’ll get to it in the morning… morning comes and you only have time to add your breakfast dishes to the growing pile. That’s not a fun cycle to get into. Make a decision to not let yourself go to bed until the kitchen is clean. It takes 5 minutes and is well worth it. Trust me.

Clear out the junk. Do you have a lot of stuff you don’t use that’s taking up space? Start clearing it out one box and one closet at a time. Some helpful questions when cleaning stuff out: Does it bring you joy? Have you used/worn it in the past year? Do you feel good when you’re wearing it?

Organize your desktop. Organize your digital files so you are looking at a clear space (or that tropical desktop image) and can quickly locate what you’re looking for.

Declutter your mind. Our minds can sometimes get cluttered with thoughts, bills we need to pay, our to-do list, and so on. Journal, make a budget, set aside time to organize your thoughts and ideas, or make time for rest.

Set a schedule. Schedule time during your week to declutter your house and mind or a regular time each day to do a certain task.

Starting can be the hardest part sometimes, so try to start small. Add one thing to implement this week, such as making your bed, and see how it makes you feel! Try not to get discouraged, but rather focus on what you have accomplished, celebrate all achievements (big and small), and reflect on the progress you’ve made.

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 @WLAinsurance    www.WhitakerLaChance.com    (269) 324-7700

About the author:
Stephanie PichanStephanie Pichan joined Whitaker-LaChance in 2016 as the Health and Wellness Coordinator and is a licensed health and life insurance agent. As a graduate of the Bachelor of Science Community Health Education program at Western Michigan University, Stephanie worked as a professional in the wellness field for over 10 years prior to coming to the agency. She brings with her experience in public health, health technology, behavior change, nutrition, and holistic health practices and therapies. Whether through work, church, volunteering, or every day connections, she’s passionate about helping others live their best life possible.