When Do You Need Travel Insurance?

Get ‪travel‬ insurance if you're one of these 4 types of traveler:

Business: About 75% of business travelers encounter mishap, costing an average of $1,475, 55% of which falls on the company and 45% of which falls to the individual.  

Health: Some medical insurance plans cover you abroad, others (including Medicare) do not.

Students Studying Abroad: When spending a long period of time in another country, it's worth the peace of mind of having medical treatment, emergency evacuations, lost baggage, trip cancellations, and more. 

You Can't Afford Not To Have It: Consider three things when deciding whether to buy travel insurance: the amount of risk you’re willing to take, the amount of money you could lose, and the amount of money you are willing to accept losing.

Fit one of these travel profiles? Read more here: bit.ly/1BOdVt3.

Prepare your building to weather the cold

Temperature extremes from summer to winter place a heavy burden on the buildings we live in and the places we work. With little warning, gusting winds, heavy snow and bitter temperatures can create a weather event that could collapse your roof, freeze and rupture your piping and cause havoc in your life.

But prudent loss control strategies you implement before winter can protect your home or business and minimize the impact of weather-related property damage, business interruption and other losses.

Cold weather states are not the only places vulnerable to extreme winter weather losses. In reality, property owners in moderate climate states not normally associated with harsh winter weather tend to suffer the most costly losses because they are typically unprepared for extreme conditions. The winter of 2014 was one of the costliest since 1980, with $1.5 billion in insured losses filed between January 1 and February 21, 2014, alone, according to the Insurance Information Institute.

PREPARING BUILDINGS

Be prepared by keeping on top of routine building maintenance. Look for any evidence of previous damage to your building’s structure, paying special attention to damaged roof material or equipment that may need repair or replacement. Also take note of any areas that could be unstable during severe winter weather.

• Maintain roofs in good condition. Repair leaks, secure flashing and clear debris from the roof, roof drains, downspouts and overflow outlets.
• Check that gutters and downspouts are secured to buildings and clear of leaves and debris. Were they iced over during the previous winter? Consider installing heat trace (electric cable or tape) to prevent major icicles and ice dams.
• Assure that all building openings are weather-tight to prevent cold air that could cause water pipes or fire protection systems to freeze. If you recently built an addition or renovated, how were existing utilities – especially water and sprinkler piping – protected from frigid temperatures?
• Test any low-building-temperature alarms.

PREVENTING BUILDING COLLAPSE

Heavy snow, freezing rain or a series of constant rain showers and wind can cause precipitation to accumulate, leading to roof failure. Blocked roof drains and overflows can cause precipitation to accumulate and overload the roof. Many older buildings that were not required to provide secondary overflow drainage, such as scuppers, do not provide adequate drainage when primary drains are blocked.

Collapses can damage the building and its contents, destroy fire protection systems and unleash dangerous live utilities, including electricity and flammable gases. These losses can be made worse by water damage from rain intrusion or broken water piping.

Consult with a qualified contractor to assess your roof condition before you experience a problem.

By Troy Dohmeyer for The Cincinnati Insurance Companies

What is a CLUE report – and why is it costing you money?

You know that credit bureaus maintain detailed credit reports of your personal and confidential credit and loan history. But did you know that there's another report that tracks detailed information about the losses and insurance claims you report on the property you own? The report is called a CLUE Report, which is often insurance carrier shorthand for "loss history."

The Comprehensive Loss Underwriting Exchange database, or CLUE, contains a history of insurance claims and losses on insured individuals' property and automobiles. A CLUE report includes detailed information on every claim made on your property, including: 

•  The date of a loss
•  The type of claim made
•  The amount paid out by the insurance company.

Does CLUE Affect Your Insurance Rates?
Just like your credit report, your CLUE score can help or hinder your ability to get a good deal on your property insurance.

Depending on your carrier's policies, any claim you make will likely end up in the CLUE database. Here's the kicker: sometimes a simple inquiry you make to your insurance company may be noted and added to your CLUE report, even if you don't file a claim - affecting your rates. 

Choose your words wisely when talking to your carrier or a non-independent agent. When you call with a hypothetical question, make sure to be specific that you are making an inquiry only, and not reporting a claim. When you get your insurance through an independent agent or broker, it's less likely that questions you ask them will end up in your CLUE report, since they work for you - not for the carrier. 

How do you get a good CLUE report?
Making fewer claims is the best way to limit damage to your CLUE. Also, hold off on filing claims, especially for smaller losses. Raising your deductible may be one way to help yourself do this - while lowering your premiums as an added bonus. It's much cheaper, in the long run, to pay for less expensive damages out of pocket than to add to your claim history. Save your claims (and a negative entry on your CLUE report) for bigger losses, in order to save money on your insurance rates overall.


Questions? Call Dave at 303-834-1001.

Where to keep key documents…and where NOT to

Here’s a little quiz. Where is your Social Security card right now? What about your passport? Your birth certificate? Choose one:

1. In the safe deposit box at my bank or in a locked file cabinet or fire-rated document chest at home
2. I’m not sure, but they must be around here somewhere
3. In my purse, wallet or briefcase

Read more of this post

by Marty Skidmore for The Cincinnati Insurance Companies

Understanding and controlling business auto costs

It’s easy to understand why prices rise for manufactured or commodity-based products. When prices for raw materials increase, the cost of the product goes up. It’s not as easy to understand the cause of higher prices in a service-based industry such as insurance. Many factors can affect the cost of insuring a business vehicle.

What can you do to hold down your auto insurance premiums?  
Read more of this post

by Mark Rose for The Cincinnati Insurance Companies

Backyard hazards: After-school safety strategies

The start of school signals a seasonal change in routine for many families. Children may spend after-school hours at home with an adult or teen caregiver. Sometimes older children are trusted to be alone for an hour or two until a parent arrives. This change in routine offers a good opportunity to re-evaluate the safety and liability exposures right in your own backyard.

Read more of this post

By Misty Fraley

Does your home insurance cover dog bites?

Make sure your homeowners policy
covers canine liability.

It's an unfortunate reality, but dog bites are far more common – and costly – than most people realize. If your homeowners insurance policy doesn’t cover it, even a minor dog bite could cost you thousands of dollars in medical bills.

Sixty-eight percent of U.S. households, or 83.3 million homes, own a pet, according to a 2013/2014 survey from by the American Pet Products Association.

According to the Centers for Disease Control and Prevention, dogs bite about 4.7 million people every year (half of which are children), adding up to more than $400 million in medical costs. Meanwhile, The average cost per claim nationally has risen more than 45 percent in the last decade (2003-2013).

The nonprofit Insurance Information Institute says the cost of dog-bite claims jumped 53 percent from 2003 to 2011. Dog-bite claims accounted for more than one-third of all homeowners insurance liability claims in 2013 – equaling almost half a million dollars in damages.

Read more about dog bite liability here: http://www.iii.org/issue-update/dog-bite-liability

Are you covered?

If you own a dog, it's essential to find out whether your homeowner’s policy covers canine liability — even if you have a small dog that seems harmless. Most homeowners policies do cover injuries resulting from dog bites. However, check your liability limit - it may not begin to cover the legal fees and additional medical costs associated with a bad bite. Dog owners may want to consider umbrella insurance coverage to give extra liability protection above and beyond the limits on a typical policy.

Some homeowners and renters policies may omit coverage for dogs altogether. Check with your broker to make sure you're covered. If not, your broker can advise you as to what  additional coverage you need.

Dog ownership tips

To reduce the chances of your dog biting someone, the Insurance Information Institute offers these seven tips:

1. Consult with a professional, such as a veterinarian, animal behaviorist or breeder, to learn about suitable breeds of dogs for your household and neighborhood.

2. Spend time with a dog before buying or adopting it. Use caution when bringing a dog into a home with an infant or toddler.

3. Have your dog spayed or neutered. Studies show that dogs are three times more likely to bite if they are not “fixed.”

4. Socialize your dog so it knows how to act around people and animals.

5. Teach children to refrain from disturbing a dog that is eating or sleeping.

6. Play non-aggressive games with your dog, such as fetch. Playing aggressive games like tug-of-war can encourage inappropriate behavior.

7. Never approach a strange dog and always avoid eye contact with a dog that appears threatening