Henry D Young Inc Insurance Agency Blog

Attention Penn State®  fans ...Plymouth Rock College Perks Program now available in NJ & PA

Posted by Carol Reese on Tue, Oct 30, 2018 @ 11:10 AM

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Topics: automobile insurance, local insurance agent, salem county, independent insurance agency, trusted choice insurance agent, multiple insurance companies

Insurance coverage limits for teens and parents

Posted by Carol Reese on Sat, Jan 05, 2013 @ 17:01 PM

It's always an anxious time when your children are learning to drive. In addition to worrying about their safety, there are financial implications to consider. Anticipating higher insurance rates, many parents look for ways to cut costs when obtaining coverage for their children.

Some people think they may be able to save a few bucks by allotting much lower limits to children driving under the policy. While doing so may lower your premiums, it is a gamble. It's widely known that teens are more at risk for serious accidents than all other drivers in their first few years behind the wheel. Should the unthinkable occur, legal, medical and repair costs could exceed those low limits easily and leave you responsible for covering bills on your own. It's usually best to apply the same limits across the board for all drivers on an auto insurance policy. Extend the same protection to your children that you have for yourself.

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Topics: trusted choice insurance agent, automobile insurance, teen drivers

Are Trees Covered by Insurance?

Posted by Carol Reese on Sat, Jun 30, 2012 @ 12:06 PM

 
We've had a lot of questions lately about whether or not trees are covered by your insurance policy because of the recent storms that have caused a lot of damage to trees. Here is some information from the Insurance Information Institute about coverage for trees and tree damage.
 
If a tree falls and hits your house, are you covered? The short answer is, yes. The coverage is quite straightforward: if a tree hits a home or other insured structure, such as a detached garage, standard homeowners insurance policies provide coverage for the damage the tree does to the structure and the contents in it. This includes trees felled by wind, lightning or hail.
 
It does not matter whether or not you own the tree; if it lands on your home, you can file a claim with your insurance company. After a hurricane or windstorm, trees, shrubs and branches can become projectiles capable of traveling significant distances and can cause considerable damage to property. In most cases, an insurance company is not going to spend time trying to figure out where a tree or other item originally came from.
 
In some situations where the felled tree was located on a neighbor’s property, the policyholder’s insurance company may try to collect from the neighbor’s insurance company in a process called subrogation. This sometimes occurs if the tree was in poor health or not properly maintained. If the insurer is successful, you may be reimbursed for the deductible.
 
If a tree hits an insured structure, such as your house or garage, there is also coverage for the cost of removing the tree, generally up to about $500 to $1,000, depending on the insurer and the type of policy purchased. If the fallen tree did not hit an insured structure, there is generally no coverage for debris removal. However, some insurance companies may pay for the cost of removing the felled tree if it is blocking a driveway or a ramp designed to assist the handicapped.
 
Standard home insurance policies also provide coverage for damage to trees and shrubs due to fire, lightning, explosion, theft, aircraft, vehicles not owned by the resident, vandalism and malicious mischief. Coverage for these disasters is generally limited to up to 5 percent of the amount of insurance on the structure of the house. Generally, most insurers will limit the coverage to about $500 for any one tree, shrub or plant. Trees and plants grown for business purposes require a separate business insurance policy.
 
Watch this video from the Insurance Information Institute for some great information about trees and insurance.
 
 
Visit them at www.iii.org for more information, send us a message, or give us a call at 856-935-0845.
 

The information in this article is meant as a guideline only. There is nothing in this article that alters the coverage or interpretation of any specific policy. Because some statements are generalizations, and because different companies' policies contain slight differences, please refer to your specific policy. Call our office before making any judgements or decisions concerning your particular situation and coverage that may, or may not, apply.

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Topics: trusted choice insurance agent, local insurance agent, homeowners insurance

You may be sued at any time. Do you need an umbrella policy?

Posted by Carol Reese on Fri, May 11, 2012 @ 08:05 AM

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Topics: trusted choice insurance agent, homeowners insurance, personal injury insurance, automobile insurance, personal umbrella insurance

Personal Injury? Teens, Social Media and a Parent’s Liability

Posted by Carol Reese on Fri, Mar 30, 2012 @ 14:03 PM

She Posted What!? OMG, my life is ruined!!

Jealousy. Passion. Betrayal. No, not the latest television drama, but high school. For many the high school experience comes with social pressures and obligations to fit in and belong, and sadly this can lead to exclusion and isolation of some students. At some point we all probably said something in our teen years in the heat of the moment that we wish we could take back, but today’s teens face the added burden that if they convey those statements on social media sites like Facebook and Twitter, their words could be around for a lot longer than just the heat of the moment. 

It doesn’t take much searching of the news to see stories of teens using social media sites like Facebook to transfer the cruelty of high school hallways into the online world. Teens that make fun of a student or tease them may not just be responsible for hurt feelings, but if they’re publishing bullying or teasing posts online or revealing private information about another teen in a public forum, whether a blog, to their Facebook profile or other social space, they may be exposing you and your insurance policy to a claim.

Are my kids covered under my insurance?

Generally speaking, any coverage you have through your homeowners or renters insurance policy also provides coverage to other residents of the household, including your teenage children. Standard homeowners and renters policies include liability protection for bodily injury or property damage, which would pay for the costs to cover medical bills or repair/replacement costs if your child injured a friend in a pick-up basketball game or if they were at a friend’s house and accidentally spilled soda on a $13,000 oriental rug, subject you your policy’s deductible.

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Topics: trusted choice insurance agent, homeowners insurance, personal injury insurance

Flood Insurance: What It's All About

Posted by Carol Reese on Thu, Mar 15, 2012 @ 09:03 AM

March 12-16th is Flood Safety Awareness Week.

Unfortunately, many people may not be aware that flood damage is not covered by homeowners insurance.

Many consumers are unaware that, even if their homes are ruined by a hurricane, they are not insured due to a lack of flood insurance. Insurance against flooding (rising water) is different from insurance against driven rain or leakage, which often are covered. 

Three perils—fire, lightning and windstorm—are traditionally covered by homeowners property insurance. Flooding is excluded from homeowners coverage, as floods tend to be catastrophic in nature causing widespread damage in a geographic area. Private insurers are not able to absorb all that risk.

Hurricanes get a lot of attention, but big storms are not the only cause of floods, nor are floods limited to coastlines. In fact, flooding is the nation’s most common and frequent natural disaster, according to federal officials.

Flood insurance first came about after the federal government was called upon to bail out communities. As the nation grew after World War II, flood-damaged communities turned to the federal government for disaster relief and rebuilding assistance. In the 1960s, Congress sought a more proactive system, and in 1968 created the National Flood Insurance Program (NFIP).

This community-based insurance mechanism requires municipalities to adopt and enforce flood-abatement measures. In order to join the NFIP, it must adopt a program of corrective and preventive measures for reducing future flood damage (including zoning and building requirements). Flood insurance is available only to consumers in communities that have joined the NFIP.

The National Flood Insurance Program (NFIP) is part of the Federal Emergency Management Agency (FEMA). It provides flood coverage to homeowners and renters as well as commercial building owners. Coverage is provided through Trusted Choice® insurance professionals, as well as through other insurance agents.

Flood insurance may not just be desirable for homeowners, it may be required. For example, mortgage lenders are legally bound to require consumers buying a house in a high-risk flood zone to have flood insurance.

Consumers who own or rent property in low- or moderate-risk flood areas can buy flood insurance, and may be eligible for a lower-cost preferred risk flood policy.

Flood insurance protects against losses to buildings and contents (not the property on which they sit). Coverage is in effect whether flooding results from heavy rains, storm surge on the coast, melting of snow, blocked storm drainage systems, levee or dam failure, or other causes. Waters must cover at least two acres or affect at least two properties to be considered a flood for insurance purposes.

Residential flood insurance provides as much as $250,000 of coverage for dwellings for one to four families, and as much as $100,000 for contents. Commercial property owners can get up to $500,000 of insurance for the building and the same amount for contents. Condominiums also can be insured.

Unlike homeowners insurance, flood insurance has a waiting period. The NFIP sets a standard 30-day waiting period before flood coverage goes into effect (except for lender-required flood insurance, if more insurance is required because of a flood map revision, or if existing coverage is being increased upon renewal).

Henry D Young Inc Insurance Agency is a Trusted Choice® insurance professional and can help you sort out whether you need coverage, what type to apply for, and what to get. 

Click here to obtain information about your flood risk and steps you can take to lessen the impact of flooding.

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The information in this article is meant as a guideline only. There is nothing in this article that alters the coverage or interpretation of any specific policy. Because some statements are generalizations, and because different companies' policies contain slight differences, please refer to your specific policy. Call our office before making any judgements or decisions concerning your particular situation and coverage that may, or may not, apply.

 

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Topics: independent insurance agency, trusted choice insurance agent, flood insurance, homeowners insurance

Love Your Valentine's Day Gift? Insure It!

Posted by Carol Reese on Tue, Feb 14, 2012 @ 15:02 PM

 Those who don’t buy shiny things for Valentine’s Day may prefer other types of valuables, such as electronics, artwork, antiques, wine and furs. All totaled Valentine’s Day spending will tally approximately $17.6 billion of retail sales, with $4.1 billion of that being spent on jewelry, according to the National Retail Federation’s 2012 Valentine’s Day Consumer Trends report.

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Topics: trusted choice insurance agent, valuable items insurance, homeowners insurance

Thanks for choosing us as your independent insurance agency!

Posted by Carol Reese on Thu, Jan 19, 2012 @ 19:01 PM

Thanks for choosing us - We know you have many choices when purchasing insurance and we want to thank you for choosing us as your insurance agency. As a professional, independent insurance agency, we pride ourselves on maintaining long-term relationships with our clients; adjusting their coverage as personal, business or professional changes take place.

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Topics: independent insurance agency, trusted choice insurance agent, local insurance agent

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