Month: August 2013

Demystifying The Confusing World Of Home Insurance Deductibles

Posted on by butlervetinsurance

What in the world is a split deductible?

This may be one of the many questions that new homeowners have when it comes to understanding the confusing world of homeowners insurance. Deductibles and insurance rates can sometimes put people in financial hot water if they are not careful to decide the best amounts based on their finances. Let’s try to demystify deductibles so you are choosing the right one based on your home.

Basically, a deductible is what you will pay out of your own pocket when a claim is made to your insurance company. This tactic is to ensure that people don’t put in frivolous claims expecting the insurance to pay for every single one. When serious damage or theft happens to your home, your deductible is placed into paying part of the costs as the insurance company will pay for the rest.

You can choose different types of deductibles. Most homeowners pick a deductible that is a percentage of the insured value of the home. This means that if you own a $100,000 home, you could pay 2% — as your out-of-pocket deductible would be $2,000. You may also decide to choose a split deductible, where you pay varying set amounts for different hazards, such as paying $400 for fire coverage and $250 for theft coverage.

Carefully consider the amount you want to pay for your deductible. The higher the deductible, the less you will have to pay for your premiums. But don’t pay a high amount that is out of your financial means. To find out more about homeowners insurance and to receive advice about deductibles with no charge to you, please contact Stromsoe Insurance Agency at 951-600-5751.

Do I Need Coverage for My College Student?

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Planning to send your graduate off to college soon? You might be wondering whether your current insurance coverage will help protect your loved one while they are far from home. When it comes to insurance and college students, there are a few stipulations that may require alterations to your current policy.

Health Insurance Coverage is essential for any college student, and many colleges today require all students to have some type of medical coverage at the time of enrollment. If your child is studying abroad or out of state, there may be details you need to discuss with your insurance agent before sending them off.

Automobile Insurance Coverage is a responsibility many parents choose to continue for a number of reasons. Cash strapped college students tend to miss a payment here and then, which can put them at serious liability even if they don’t take a car with them. Consider those occasions where your responsible child unexpectedly becomes the designated driver or borrows a friend’s car before dropping them from your auto policy.

Home Insurance & Covering Property in a Dorm is one thing you’ll want to inquire with your agent about. Most policies do help cover personal property that is damaged or stolen from dorm rooms in particular situations.

Find out more about keeping your college student safe while they earn higher education, Contact Stromsoe Insurance Agency in California for all your insurance questions and needs.

Ensure Your Home Is Built On A Stable And Sturdy Foundation

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Buying a home is a very exciting experience, but dealing with foundation problems can be an aggravating and costly headache. Before you even consider purchasing a home, always inspect the foundation. If your home wasn’t built on a stable or sturdy surface, it may have structural damage that can make living there unsafe.

Poorly-built foundations will show cracks along the outer surface, uneven floors and doors that aren’t aligned, and diagonal cracks along the walls of your home. Some damage can be easily fixed, such as cracking, as a silicone caulking can be applied. More serious problems may require foundation specialists to go underneath your home and repair the foundation by adding supports.

Even if your home has a stable foundation, you will need to perform the proper maintenance so it lasts for a very long time. Steps to maintaining your home’s foundation may include:

  • Moving gutter downspouts so water is redirected away from the foundation to prevent water damage
  • Cutting down or trimming the roots of trees and bushes that are putting pressure against the foundation as this can cause the bricks to crack.
  • Immediately filling in cracks that can appear when the foundation shifts due to soil movement

For more information about maintaining your home’s foundation and about getting the right homeowners insurance, please contact Stromsoe Insurance Agency at 951-600-5751.

Don’t Let Insuring Your Teen Driver Break the Bank

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As if you aren’t frightened when you see your teen take to the road in your vehicle for the first time, you’re in better shape than most parents experiencing it. However, that relaxed feeling certainly won’t remain once you realize how costly insuring your teen driver can be.

Of course, auto insurance doesn’t have to break the bank, even if you have more than one teen driver in the home. There are several approaches you can encourage your teen to take to lower those high insurance premiums.

Defensive Driving Course – Although not typically required to earn a license, a defensive driving course can reduce your teens chance of having an accident as well as lower your auto insurance.

Good Grades – Many companies will offer teen drivers a discount for maintaining good grades in school – A bonus for everyone!

Make & Model – If your teen is driving a sports car or flashy SUV, particularly a newer model, expect to pay extra for that. By choosing an economical car with a good safety rating, you’ll not only feel better about your teen’s safety on the road, but your insurance premium will reflect it through savings.

If you want more information about how to save money and get discounts for teen driver auto insurance, Contact Stromsoe Insurance Agency – the California insurance professionals.

What Types of Insurance Do I Need for My Small Business

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Your small business insurance needs will vary depending on the type of business you operate, the level of risks involved, and whether or not you employ other persons. Small business owners are wise to consult a professional insurance agent for guidance due to the complexities and various state regulations concerning various types of business insurance requirements. Meanwhile, here are the most common types to ponder.

General Liability Insurance offers protection again accidents, claims of negligence, and injuries. Such protection also includes legal safeguards.

Professional Liability Insurance is required of small businesses that provide any type of service to customers, which protects you against malpractice, negligence, or errors that inadvertently occur to your customers.

Product Liability Insurance is necessary if you distribute, manufacture, wholesale, and/or distribute any product. Its intent is to protect you against claims of injury to due product malfunction.

Home-Based Business Insurance is not typically covered by homeowner’s policies unless you have additional riders to your policy. This is a wise investment, particularly if you have heavy equipment investments in your home-based business.

Employer Businesses Insurance Needs & Requirements

Mandated by law, if you hire employees, expect these basic small business insurance requirements in California.

Workers Compensation is a requirement by federal law. You can purchase your own coverage or buy a policy from the Workers’ Compensation Program.

Unemployment Insurance Tax is a consideration if your state mandates it. Register your business with the state workforce agency to be within guidelines, and discuss coverage for unintentional violations with your agent.

Disability Insurance is mandatory in California and five other states. We can help you get your policy set up properly and affordably.

You can rely on the professional services of a top servicer of insurance in Murrieta, CA. Contact Stromsoe Insurance Agency for more information about affordable small business insurance coverage in California.

Nonprofit Operation School Bell Program Helps School Students Get The Clothes They Need

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Students shouldn’t be without an education all because they don’t have the clothes they need to attend classes. Throughout California, schools such as the Menifee Union School District, Temecula Valley Unified School District, Lake Elsinore Unified School District and the Murrieta Unified School District can improve school attendance and promote a great learning environment for disadvantaged students through the Operation School Bell Program.

Operation School Bell is a service offered by the Assistance League of Temecula Valley to provide clothing to over 5,000 students in the area. Low income children who qualify for the program can receive clothing from shopping events held at Kohl’s and Target stores in the area. Children receive uniforms, jackets, shoes, backpacks, grooming kits and school supplies to raise their self-esteem and make them eager to attend school.

Many community organizations contribute to this program, including nonprofit organizations such as the Community Foundation which donated a $9,000 grant to Operation School Bell. If you are interested in donating to this program to help school students, make your contribution at the Operation School Bell website.

For more information about buying a home and getting insurance in California so you can participate in the Operation School Bell program, please contact Stromsoe Insurance Agency at 951-600-5751.