Insurance Video Library Now Open!

 

Bragg Insurance Agency is excited to announce the opening of our video information Library!  This new tool developed for Bragg Insurance Agency clients will help to answer many of your questions about how your insurance coverages work.  insurance-agent

To visit the Insurance Video Library you can click on the following link.  http://myinsurancevideos.com/all-videos/braggins/

We are hopeful that these 36 videos will help our community to make great decisions about their insurance coverages!

Homeowners Insurance Exclusions

Does your homeowner’s insurance policy include comprehensive perils? Do you know what that means? Nearly every insurance policy has exclusions (perils that the policy excludes against). The exclusions can include earthquakes, flooding, and sump pump failure.

The short video below will help you with your understanding of what your homeowners insurance policy may or may not cover.

As always consult with your agent if you have specific questions about your homeowners insurance

When Optimisim is a Negative

“It won’t happen to me is not a good insurance program”

It’s quite amazing how many optimistsglass-half-full-233x300 that I run into on a daily basis. I too am a “glass half full” person, so I truly understand the optimistic mindset. While I consider myself to be a positive person I cannot hold a candle to some of the idealistic thinkers that cross my path. Recently I’ve been putting these Utopian-minded folks into 3 categories.

The Immortals – This group is the most sanguine. They are a confident group that thinks that they cannot die. They are usually young and believe that their youth and positive buoyant attitude will keep death at bay. They go about their day to day activities on cloud nine ignoring pessimistic thoughts such as death, and responsibilities.

Unfortunately “The Immortals” do die, and many times way too young. Sometimes they leave behind a family with both emotional and financial voids. They leave behind mortgages, motorcycle payments, car payments, children, spouses, and extra expenses related to their funeral.

The Conscientious Optimist – This group of optimists are so meticulous that an accident could never happen to them. They are superb drivers, their homes are danger free zones and they never take risks –Never! When they drive they are able to look 3 and 4 moves ahead of everyone else and they can actually read the minds of other drivers. These clairvoyant powers keep them out of the path of drunk drivers and they are able to spot deer before they look into the headlights.

Unfortunately just as Superman’s weakness was kryptonite, even The Conscientious Optimist is susceptible to accidents. A car sometimes appears out of nowhere, someone hits their vehicle when it’s parked in a parking lot, or they only looked away for a second and that’s when the accident happened.

The Optimistic Procrastinator – Normally procrastination is associated as a negative word, but I’ve come to realize that Procrastinators are actually very positive people. They believe beat_procrastinationthat they can wait until the very last minute to take care of a duty or a task. Some of their most often used words are, “I meant to”, or “I was just getting ready to do that”, or “there’s plenty of time to do that later”

Unfortunately for the procrastinator his optimistic view of time often times runs out. His “meant to” turns into never did, and his “I was just getting ready to do that” turns into never got it done. The thing the optimistic procrastinator doesn’t realize is that when time runs out, his good intentions aren’t worth a hill of beans. He was derelict in his duties and responsibilities in spite of his good intentions.

pic-lhb-familyWe optimists are funny people. We really do see the glass as half full. But we also need to be aware of a balancing truth. We are not immortal, we do not have a magic force field around us protecting us from accidents, and we are not promised tomorrow.

So why not rather be an optimist that is prepared for the future? Live life to the fullest, but be prepared in case it’s your last day. Be a conscientious person that avoids all accidents, but have a plan in case the unexpected happens. Today, stop putting off those “meant to do” items and get them done today.

Brian Bragg owns and operates Bragg Insurance Agency and can be emailed at brian@bragginsurance.com

Spring Storms Can Bring Scam Artists

Watch for Scams after a Storm

Concerned WomanAs winter winds down and we draw closer to Spring you will begin to hear the importance of being prepared for the Springtime storms. As everyone knows we are at a greater risk for Tornados and serious wind and hail storms in the Spring and Fall.

These storms can turn your home and your life upside down. If your home is damaged in a storm you are eager to get your home repaired as quickly as possible so that you can get your life back to normal. It’s during this time of eagerness that you can become victim to another “natural disaster”, a scam artist.

Most contractors are reputable business people. But each year, there are a few dishonest ones who chase storms from state to state. They will try to convince you that you have hail or other damage and that you need a new roof when in fact you really don’t. They’ll ask to be hired for the work, explaining that your insurance company will pay for the repairs.th7JGJ1NLC

Most homeowner’s insurance policies will cover damage caused by hail and windstorms, but they will not cover the cost to replace a roof or siding when no damage has occurred. It is always recommended that you obtain a second and even a third opinion before starting any contract work.

What you can do?

If you’re beginning to repair or rebuild after a storm, or even if you are just planning a home improvement project, keep these tips, recommended by the Federal FEMAEmergency Management Agency, in mind for choosing contractors wisely:
• Get more than one estimate.
• Don’t be pushed into signing a contract right away.
• Get everything in writing. Cost, work to be done, time schedules, guarantees, payment schedules and other expectations should be detailed.
• Check references before deciding which contractor to choose.
• Never sign a contract with blanks.
• Don’t pay a contractor in full until the work is complete.
• Check with county or city licensing authorities to see if the contractor is licensed in your jurisdiction, as well as checking for complaints with their regional Better Business Bureau.

Contact your local independent agent.

If you need suggestions about who to hire or how to repair your home after a storm, your local independent agent can help you contact an insurance claims adjuster. Most insurance carriers have professional claims adjusters who are trained to assess your property, identify storm damage and prepare an estimate for proper repair. They can also provide recommendations for reliable, licensed contractors in your area—although the final choice of contractor is always yours.

2014 Insurance Planning

Greeting the New Year is one of my favorite events. Beautiful-Happy-New-Year-2014-HD-Wallpapers-by-techblogstop-1It’s a time when I can reflect back at what has transpired over the past 12 months, and set goals and plans for what I hope to accomplish over the year. It’s a time when I can free myself of the past year’s failures and shortcomings, while I celebrate my accomplishments and prepare to be my best in the New Year.

Some people will resolve to lose weight or quit smoking in the New Year. I would imagine that a lot will sit down at the kitchen table with pen and paper in hand to do some financial goal planning. You’re planning to pay off that pesky credit card, or maybe you’re planning on putting in that swimming pool that you’ve always wanted.

Insurance AgentWith this in mind, let me suggest that the New Year is also an excellent time to review all of your insurance needs with your insurance agent. Insurance is not a “set it and forget it” financial product. It’s a financial product that needs to be continually maintained. As our lives change so do our insurance needs.

As you probably know, there are many changes imagesMAO8Q7F8taking place in insurance right now, and not just in health insurance, but also in home and auto. Premium rates are increasing and coverages are decreasing. You’ve probably noticed the increasing premiums, but did you know that your coverages may not be as good as they once were?

I thought that I was covered is not an insurance program. Make an annual insurance review part of your new year’s financial strategy. You will be glad that you did.

 

Has Your Deductible Changed Without Your Knowledge?

For the past several years homeowner’s insurance companies in Indiana have been losing money, primarily because of wind and hail claims. Storm patterns in recent years have pelted the Midwest with wind and hail related claims that reach into the $ billions. In fact many insurance companies are paying out 2 dollars in claims, for every dollar they receive in premium.Hail-damage-house-OK-6-2011-lg

This has been the primary reason the industry has seen such an increase in homeowners insurance premiums over the past few years. While this trend is not likely to end any time soon, some insurance companies are also changing the way they pay out claims.

Traditionally a homeowner’s policy has a dollar amount named as the deductible. That amount is subtracted from the amount of the claim. For example, if the policy has a $1,000 deductible and there is a $5,000 claim, the insurance company would pay out $4,000.

However there is a trend in the industry that has some companies changing their deductibles from a dollar amount to a percentage, especially if the claim has been caused by wind or hail.

Hand over your moneyI recently spoke to a married couple who had damage to their roof caused by the outbreak of tornadoes we experienced in the month of November. They called their insurance company to file a claim, and discovered that their deductible for a wind claim is 10% of their dwelling value. Their dwelling value is $360,000 which made their deductible $36,000. Needless to say they ended up having to pay for the repairs to their roof out of their own pocket.

Did you catch that? Their deductible was $36,000 for wind and hail damages!

Unfortunately many other companies are following suit. Some very large and well-known insurance companies are changing their wind and hail deductibles to a % and most of their clients are unaware of the change. Often times clients are only notified of this change within the mountain of paperwork they receive in the mail from the company at the policies renewal.

Let’s face it; most people do not have the time to sift through that much paperwork. They file it away and assume that the coverages have remained the same.

The example given above of a 10% deductible is the most extreme case that I have seen. More frequently I am seeing wind and hail damage deductibles changing from a dollar amount to 1% or 2% of the dwelling coverage. 1% or 2% of the dwelling is still a significant amount of money to pay out of pocket at the stressful time of a claim.take action

Protect yourself.

1. Review your documents. Take the time to review the documents when you receive information in the mail from your insurance company. If you do not understand the language or have questions, take the policy to your agent and have them explain the coverages.

annual review2. Insist on an annual review. Your agent should be sitting down with you on an annual basis to review your coverages and to answer your questions. There are too many changes taking place in the homeowner’s insurance arena right now to ignore the paperwork and hope for the best.

3. Educate yourself. Too often times I hear people say that they paid their premium so the assumed everything was OK. Don’t turn a blind eye to your insurance coverages. Insurance is expensive so you should do you best to make sure that you understand what you are paying for.