Contact Century Today!
Call: (509) 924-4424
Fax: (509) 924-4481
Email: Info@CenturyInsuranceAgency.com
Located: 1406 N. Pines Rd Spokane Valley, 99206
Call: (509) 924-4424
Fax: (509) 924-4481
Email: Info@CenturyInsuranceAgency.com
Located: 1406 N. Pines Rd Spokane Valley, 99206
A Few Tips for the College-Bound
College is expensive enough without the added cost of unexpected accidents or theft, not covered by your insurance policy. If you have a student heading away to school, below are a few tips to help you get the most out of your coverage.
HOMEOWNERS (varies by state)
Personal Property: Most homeowners policies will cover personal property for up to 10% of your total policy while your child is residing at school (a $100,000 policy equals $10,000 in coverage). Not all types of damage are covered, so read your policy carefully. Some items such as jewelry or expensive electronics, require special coverage. Renters insurance is strongly recommended.
College is expensive enough without the added cost of unexpected accidents or theft, not covered by your insurance policy. If you have a student heading away to school, below are a few tips to help you get the most out of your coverage.
HOMEOWNERS (varies by state)
Personal Property: Most homeowners policies will cover personal property for up to 10% of your total policy while your child is residing at school (a $100,000 policy equals $10,000 in coverage). Not all types of damage are covered, so read your policy carefully. Some items such as jewelry or expensive electronics, require special coverage. Renters insurance is strongly recommended.
- Liability Coverage: General damage to a dorm room or apartment is not usually covered.
- Documentation: Creating an inventory of the items your child is taking to school is a good idea. Use photographs and keep receipts.
- Car Stays Home: Keep your child listed on your auto policy if they will still drive your car while at home on school breaks.
- Car at School: Make sure to notify us if your child will be taking a car away to school. In most cases, if the car is registered to you and listed on your policy, it will be covered.
- Driving a Friend’s Car: Students are generally covered if they are listed on their parent’s policy and are not regularly using the vehicle. The coverage would be secondary. The insurance for the friend’s vehicle would be the primary coverage.
High-Risk Years:
Money Smarts key to Strong Credit, Lower Insurance Rates for College Students
Life on your own often means paying your own way. For college students, how you manage your money significantly affects your credit, insurance rates and ultimately your future financial security.
According to Nellie Mae, a leading provider of student loans, 76 percent of all college freshmen will have at least one credit card when they start school. Many college students will use credit cards to pay for clothes, food, books, supplies and other necessities.
“Wise money management and prompt payment of bills are essential to maintaining both good credit and a favorable insurance score,” said Karl Newman, NW Insurance Council president. “Failing to manage your credit carefully will result in lower insurance scores and higher insurance premiums.”
But what does your credit history have to do with auto insurance? More than you might think. More than 90 percent of auto insurance companies in the U.S. use credit-based insurance scores.
Studies show a person’s credit history is the most accurate predictor of future insurance claims. In fact, a recent study released by the Texas Department of Insurance shows a strong correlation between credit and claims frequency.
The Texas study examined two million auto and homeowner policies. It revealed customers with lower credit-based insurance scores file claims more frequently than customers with higher insurance scores.
The study also demonstrates that policyholders with the lowest credit score file nearly twice as many claims as policyholders with the highest credit scores.
Some Key Facts About Insurance Scoring
As you prepare for personal independence that comes with college life, it is important to manage your finances effectively so you can live a more prosperous and enjoyable life.
Through the Insurance Information Institute, NW Insurance Council offers free, downloadable personal finance software to help people better manage their financial portfolio. Visit http://www.nwinsurance.org to access My Financial House.
For a free brochure, Credit & Insurance, that includes information about how consumers can manage or improve their credit profiles, contact the NW Insurance Council at (800) 664-4942 or visit http://www.nwinsurance.org/in_credit.htm.
NW Insurance Council is a nonprofit, public-education organization funded by member insurance companies serving Washington, Oregon and Idaho.
Money Smarts key to Strong Credit, Lower Insurance Rates for College Students
Life on your own often means paying your own way. For college students, how you manage your money significantly affects your credit, insurance rates and ultimately your future financial security.
According to Nellie Mae, a leading provider of student loans, 76 percent of all college freshmen will have at least one credit card when they start school. Many college students will use credit cards to pay for clothes, food, books, supplies and other necessities.
“Wise money management and prompt payment of bills are essential to maintaining both good credit and a favorable insurance score,” said Karl Newman, NW Insurance Council president. “Failing to manage your credit carefully will result in lower insurance scores and higher insurance premiums.”
But what does your credit history have to do with auto insurance? More than you might think. More than 90 percent of auto insurance companies in the U.S. use credit-based insurance scores.
Studies show a person’s credit history is the most accurate predictor of future insurance claims. In fact, a recent study released by the Texas Department of Insurance shows a strong correlation between credit and claims frequency.
The Texas study examined two million auto and homeowner policies. It revealed customers with lower credit-based insurance scores file claims more frequently than customers with higher insurance scores.
The study also demonstrates that policyholders with the lowest credit score file nearly twice as many claims as policyholders with the highest credit scores.
Some Key Facts About Insurance Scoring
- An insurance score does not consider personal characteristics such as age, gender, income, net worth, home address or ethnicity.
- Insurance scores do not discriminate against lower income groups. In fact, some of the best insurance scores appear among low- and moderate-income groups. It is evident that a low insurance score has nothing to do with income and everything to do with how people manage their money.
- An insurance score is a numerical rating based on factors such as timely payment of bills, public notices, bankruptcies, tax liens and credit inquiries. Some insurance scoring models also include prior claim history.
- Insurance scores are only one of many rating factors used to determine eligibility and rates. Other factors include age, driving record, vehicle, and mileage driven.
- Insurance scores have proven to be a very accurate way to predict future claims. Separate studies conducted for insurance regulators and insurance companies have shown a very strong statistical correlation between low credit scores and frequent claims.
- An insurance score will not be affected by inquiries from insurance companies.
- Insurance scores do not include specific information about outstanding loans.
- The Federal Fair Credit Reporting Act of 1970 (amended 2003) and Washington State’s 1993 Fair Credit Reporting Act allow insurance companies to use credit information when evaluating insurance coverage.
- Using credit wisely is the best financial strategy for maintaining a healthy credit profile.
As you prepare for personal independence that comes with college life, it is important to manage your finances effectively so you can live a more prosperous and enjoyable life.
Through the Insurance Information Institute, NW Insurance Council offers free, downloadable personal finance software to help people better manage their financial portfolio. Visit http://www.nwinsurance.org to access My Financial House.
For a free brochure, Credit & Insurance, that includes information about how consumers can manage or improve their credit profiles, contact the NW Insurance Council at (800) 664-4942 or visit http://www.nwinsurance.org/in_credit.htm.
NW Insurance Council is a nonprofit, public-education organization funded by member insurance companies serving Washington, Oregon and Idaho.
Helping Your Teenage Drivers
As parents, we all face "milestone" moments in the task of raising our children—some good, some happy, some not-so-happy, some scary. One of the happiest yet scariest moments is when our kids got their drivers licenses. We we are pleased that they are growing up, but we are worried about the risk that auto use poses (to everyone). We have seen how some of their friends drive, and we remember our own teenage driving experiences.
Some say that all we can do is give them the keys and pray. While we certainly do our share of praying for our kids, I'm convinced that there is more we can do to assure their safety behind the wheel.
We can talk to them. Of course we can—that always works and they always listen. Okay, conversations between teen and parent may not extend much beyond "What's for dinner?" and "Can I have 10 bucks?" but just the smallest thing, a seemingly insignificant occurrence, may have a great impact. When you're out together with your teens, point out what other drivers are doing—right and wrong. Some of that may sink in.
One of the people in the insurance world, who believed strongly in communicating with new drivers, was the late John J. "Jack" Schiff Sr., founder of the Cincinnati Insurance Company (CIC). When a client's child got a driver's license, Jack always made it a point to bring that kid into his office to discuss driving. It wasn't a long meeting; it wasn't a lecture. Rather, it was just a friend-to-friend reminder about the rights and responsibilities of having a driver's license.
Like Jack, we know that parents of a new driver truly appreciate someone outside the family expressing concern for driver safety and the inexperience the new driver must overcome.
Tips You Can Use to Help Teenage Drivers
There are several things that parents can do to help keep their teenagers safe behind the wheel. We'd like to highlight a few of them.
When your son or daughter gets a driver's license, come into our office so we can review such options with both of you. It is important for you—and your son or daughter—to remember that, yes, your auto insurance rates will go up, but they will come down after a couple years of driving experience; however, the rates will really go up if your teenager has tickets or gets into accidents.
As parents, we all face "milestone" moments in the task of raising our children—some good, some happy, some not-so-happy, some scary. One of the happiest yet scariest moments is when our kids got their drivers licenses. We we are pleased that they are growing up, but we are worried about the risk that auto use poses (to everyone). We have seen how some of their friends drive, and we remember our own teenage driving experiences.
Some say that all we can do is give them the keys and pray. While we certainly do our share of praying for our kids, I'm convinced that there is more we can do to assure their safety behind the wheel.
We can talk to them. Of course we can—that always works and they always listen. Okay, conversations between teen and parent may not extend much beyond "What's for dinner?" and "Can I have 10 bucks?" but just the smallest thing, a seemingly insignificant occurrence, may have a great impact. When you're out together with your teens, point out what other drivers are doing—right and wrong. Some of that may sink in.
One of the people in the insurance world, who believed strongly in communicating with new drivers, was the late John J. "Jack" Schiff Sr., founder of the Cincinnati Insurance Company (CIC). When a client's child got a driver's license, Jack always made it a point to bring that kid into his office to discuss driving. It wasn't a long meeting; it wasn't a lecture. Rather, it was just a friend-to-friend reminder about the rights and responsibilities of having a driver's license.
Like Jack, we know that parents of a new driver truly appreciate someone outside the family expressing concern for driver safety and the inexperience the new driver must overcome.
Tips You Can Use to Help Teenage Drivers
There are several things that parents can do to help keep their teenagers safe behind the wheel. We'd like to highlight a few of them.
- Coach your son or daughter. You should "coach" your teenage driver. Talk openly and frankly with him or her in order to determine his or her attitude about being behind the wheel. Work with your teen to set ground rules, such as the number of people allowed in the car, where the car may be taken, and curfew.
- Use emergency road service. If you do not belong to a motor club, you should consider joining one that provides 24-hour emergency road service. That way, your teenager may call for help at any time if they need gas, need a jump-start, are locked out, or need a tire changed. You can also arrange with the motor club to provide service for your teen if they are in a friend's car.
- Have an open discussion about driving under the influence. While no one wants to think about the possibility of their teenager drinking and driving—or being in a car with an impaired friend at the wheel—we need to be realistic. History has shown that teenagers will experiment with alcohol. You should make it clear to your teen that driving after drinking is not acceptable. However, if they ever do drink, or are in a car with someone else who is impaired, make it clear to your teen that he or she can call you at any time of the day or night and that you will come to get them—no questions asked.
- If you can afford it, install a "Governor." Many vehicles—school buses and certain types of delivery vehicles are good examples—have a "governor" installed in them that restricts the amount of fuel that can be injected, thus preventing the vehicle from being driven over a certain speed. A governor in your teen's car may help keep him or her within the speed limits.
- If you can afford it, install a Global Positioning System (GPS) in your car. You can program it to let you know where your teenager is driving at any time. With the GPS, you can set a radius of operation and the GPS will notify you if your teen has taken the car outside of that radius. It can even alert you when the speed limit is being exceeded. Finally, a GPS can notify you if the car is being kept out past an agreed upon curfew. We realize that this may seem like a rather extreme measure. Use of a GPS may best serve those parents who have a reason to mistrust their teenager.
When your son or daughter gets a driver's license, come into our office so we can review such options with both of you. It is important for you—and your son or daughter—to remember that, yes, your auto insurance rates will go up, but they will come down after a couple years of driving experience; however, the rates will really go up if your teenager has tickets or gets into accidents.
Lending Your Vehicle Can Land You In Trouble
While it might seem like it is no big deal, you should think twice before you lend your vehicle to someone else.
“Can I borrow your car?” seems like an innocent enough question. “I’ll have the car back in a couple of hours,” they say. It may seem like a little favor, not really worth a second thought. “Sure, take my keys,” you say. When you give someone not listed on your insurance policy permission to drive your car, you could be setting yourself up for a giant headache.
The next thing you know you get a call from your friend, relative or co-worker and they have been involved in a fender-bender or worse. How does your insurance policy respond? Do you have coverage? We encourage smart driving decisions, and therefore discourage the practice of lending your car to others. People are often confused about who is covered on their auto insurance policy. If you decide to lend your car to someone else, you will first want to make sure there is coverage.
Most auto insurance policies normally provide coverage for your car if driven by any of the following people:
It is important to check your individual policy carefully and make sure you understand any exclusions or limitations that may apply before you allow others to drive your car. If there are such exclusions and/or limitations prohibiting someone not listed as a driver on your policy from operating your vehicle, there very likely would be not coverage. ALWAYS CHECK YOUR POLICY.
What will happen if you decide to lend your car to someone not listed as a driver on your policy and they cause an accident? Your insurance is going to pay first and you will have to pay your deductible. The reason? Most auto policies insure your vehicle plus you, any relative, and anyone else using your car with your permission. If the person driving your car were to have their own policy, their policy would be secondary and would kick in only after your limits of liability have been used up. Initially your insurance would likely pay the full cost of the accident, but your company would then “subrogate”, or seek compensation from the person driving.
Keep this in mind next time you think about lending your car or truck to a friend or family member: Insurance follows the vehicle, but insurance responsibility usually follows the policy holder. Be sure to have this discussion with your driving age children. Teenagers generally have no idea that it is not OK to lend the car or let someone else drive.
We, as mentioned before, discourage the practice of lending your vehicle to others, but if you do it is best to know what/who is and is not covered.
While it might seem like it is no big deal, you should think twice before you lend your vehicle to someone else.
“Can I borrow your car?” seems like an innocent enough question. “I’ll have the car back in a couple of hours,” they say. It may seem like a little favor, not really worth a second thought. “Sure, take my keys,” you say. When you give someone not listed on your insurance policy permission to drive your car, you could be setting yourself up for a giant headache.
The next thing you know you get a call from your friend, relative or co-worker and they have been involved in a fender-bender or worse. How does your insurance policy respond? Do you have coverage? We encourage smart driving decisions, and therefore discourage the practice of lending your car to others. People are often confused about who is covered on their auto insurance policy. If you decide to lend your car to someone else, you will first want to make sure there is coverage.
Most auto insurance policies normally provide coverage for your car if driven by any of the following people:
- You, the “named insured”
- Your spouse, as long as he or she lives in your household
- Other family members who are related to you by blood, marriage or adoption
- A foster child who lives in your household
- A child who is away at college but still considers your address his or her permanent address
- Anyone to whom you lend your car
It is important to check your individual policy carefully and make sure you understand any exclusions or limitations that may apply before you allow others to drive your car. If there are such exclusions and/or limitations prohibiting someone not listed as a driver on your policy from operating your vehicle, there very likely would be not coverage. ALWAYS CHECK YOUR POLICY.
What will happen if you decide to lend your car to someone not listed as a driver on your policy and they cause an accident? Your insurance is going to pay first and you will have to pay your deductible. The reason? Most auto policies insure your vehicle plus you, any relative, and anyone else using your car with your permission. If the person driving your car were to have their own policy, their policy would be secondary and would kick in only after your limits of liability have been used up. Initially your insurance would likely pay the full cost of the accident, but your company would then “subrogate”, or seek compensation from the person driving.
Keep this in mind next time you think about lending your car or truck to a friend or family member: Insurance follows the vehicle, but insurance responsibility usually follows the policy holder. Be sure to have this discussion with your driving age children. Teenagers generally have no idea that it is not OK to lend the car or let someone else drive.
We, as mentioned before, discourage the practice of lending your vehicle to others, but if you do it is best to know what/who is and is not covered.
School Bus and School Zone Safety
As the days grow shorter, the nights cooler and the kids are singing the chorus of "We're bored"; it brings up the subject of going back to school. With the upcoming season, we find it prudent to remind our customers of the school bus laws and school zone safety.
All of us have gotten stuck behind a school bus on our way to work or to run an errand. It can be frustrating to wait behind this object that is potentially going to make us late or run behind on our daily plans. Have you been tempted to pass the bus? Many have been tempted, some do with disastrous results.
Did you know…
School Zones can be equally tricky and dangerous if drivers are not paying attention. Observe the signage now!
What are school zones?
School Zones are areas near marked school crosswalks that are found adjacent to school grounds. The crosswalks are generally placed where it is desired and safest for school children to cross. For elementary school age students these locations are often monitored by a crossing guard or school patrol, pleas observe and obey them as they help our children cross safely.
Regarding the allowable driving speed in designated elementary school zones, Washington law states that the "Speed limit is 20 miles per hour when children are present." This reduced speed is in effect whenever there are children in the school zone, not just during school hours.
Parking may be restricted the area near school crosswalks to allow motorists to see children and reduce speed slowly, thus minimizing the risk of rear end collisions.
What are the official guidelines?
The State of Washington Revised Code (RCW or State Law) states: "It shall be unlawful for a driver of any vehicle to operate the vehicle in excess of 20 miles per hour when passing any marked school crosswalk when such crosswalk is fully posted with standard school speed limit signs." The RCW further states: "The speed zone at the (school) crosswalk shall extend three hundred feet in either direction from the marked crosswalk."
Where would we normally expect to see marked school crosswalks?
School crosswalks are normally marked at, or adjacent to, elementary schools. Other locations may also be marked if: they are part of an approved school walking route and the crossing is at an intersection where there is a substantial conflict between vehicle and pedestrian movements; or where significant school age pedestrian concentrations occur; or where pedestrians could not otherwise recognize the proper place to cross. Examples of such locations are:
• Approved school crossings with either adult crossing guard or school patrol.
• Signalized intersections where there are pedestrian signals and where one or more crossing locations have been prohibited.
Why are high schools signed differently?
Because of the age and experience of the high school students, the Speed Limit 20 When Children Are Present, is not appropriate since these students are able to better judge when and where it is safe for them to cross.
However, since high schools are OPEN campus’, as opposed to CLOSED campus’ at elementary schools, the high school students may be entering and leaving the school grounds at any time during the school day. Therefore, a Speed Limit 20 7:30 a.m. to 3:30 p.m., is in effect at all high schools in Spokane.
By observing the school bus and zone laws we will all have a safer school year!
Resources: http://www.spokanestreetdepartment.org/faqs%5Cschoolzone.htm ; Stop for the school bus brochures distributed by the Washington State office of the Superintendent of Public Education; http://www.cdaschools.org/departments/transportation.htm
As the days grow shorter, the nights cooler and the kids are singing the chorus of "We're bored"; it brings up the subject of going back to school. With the upcoming season, we find it prudent to remind our customers of the school bus laws and school zone safety.
All of us have gotten stuck behind a school bus on our way to work or to run an errand. It can be frustrating to wait behind this object that is potentially going to make us late or run behind on our daily plans. Have you been tempted to pass the bus? Many have been tempted, some do with disastrous results.
Did you know…
- That more children are killed or injured outside a school bus every year than inside one?
- That most of these deaths and injuries occur during daylight hours and in clear weather?
- That children react differently than adults to traffic situations?
- They act impulsively, can be pre-occupied and act spontaneously, disregarding safety, darting out into traffic.
- They do not understand vehicle speed or required stopping distances.
- They are not aware that their physical size may limit their ability to be seen.
- They do not recognize the school bus driver’s limitations.
- That the state of Washington has laws for motorists to help prevent needless deaths and injuries by requiring them to stop for certain loading/unloading procedures?
- That violation of these laws can result in a citation and a fine in Washington of $177 and up to $500 in Idaho which will not only affect your driving record, but also your auto insurance rates?
1. You are traveling either direction on a two lane road.PLEASE BE RESPONSIBLE. WATCH OUT FOR CHILDREN!
2. You are traveling the same direction as the bus and you are on a road with more that two lanes of traffic.
3. You are traveling the same direction as the bus on a road with a two-way turn lane.
School Zones can be equally tricky and dangerous if drivers are not paying attention. Observe the signage now!
What are school zones?
School Zones are areas near marked school crosswalks that are found adjacent to school grounds. The crosswalks are generally placed where it is desired and safest for school children to cross. For elementary school age students these locations are often monitored by a crossing guard or school patrol, pleas observe and obey them as they help our children cross safely.
Regarding the allowable driving speed in designated elementary school zones, Washington law states that the "Speed limit is 20 miles per hour when children are present." This reduced speed is in effect whenever there are children in the school zone, not just during school hours.
Parking may be restricted the area near school crosswalks to allow motorists to see children and reduce speed slowly, thus minimizing the risk of rear end collisions.
What are the official guidelines?
The State of Washington Revised Code (RCW or State Law) states: "It shall be unlawful for a driver of any vehicle to operate the vehicle in excess of 20 miles per hour when passing any marked school crosswalk when such crosswalk is fully posted with standard school speed limit signs." The RCW further states: "The speed zone at the (school) crosswalk shall extend three hundred feet in either direction from the marked crosswalk."
Where would we normally expect to see marked school crosswalks?
School crosswalks are normally marked at, or adjacent to, elementary schools. Other locations may also be marked if: they are part of an approved school walking route and the crossing is at an intersection where there is a substantial conflict between vehicle and pedestrian movements; or where significant school age pedestrian concentrations occur; or where pedestrians could not otherwise recognize the proper place to cross. Examples of such locations are:
• Approved school crossings with either adult crossing guard or school patrol.
• Signalized intersections where there are pedestrian signals and where one or more crossing locations have been prohibited.
Why are high schools signed differently?
Because of the age and experience of the high school students, the Speed Limit 20 When Children Are Present, is not appropriate since these students are able to better judge when and where it is safe for them to cross.
However, since high schools are OPEN campus’, as opposed to CLOSED campus’ at elementary schools, the high school students may be entering and leaving the school grounds at any time during the school day. Therefore, a Speed Limit 20 7:30 a.m. to 3:30 p.m., is in effect at all high schools in Spokane.
By observing the school bus and zone laws we will all have a safer school year!
Resources: http://www.spokanestreetdepartment.org/faqs%5Cschoolzone.htm ; Stop for the school bus brochures distributed by the Washington State office of the Superintendent of Public Education; http://www.cdaschools.org/departments/transportation.htm
Minimizing the Gas Crisis Crunch
One of the challenges facing most of us today is keeping the cost of every day expenses in the ballpark. Unless you have a stadium-sized budget, you’re not going to keep the price of gasoline within the confines of what one would consider an affordable arena.
You’re not going to beat gas price increases but you can become a smarter gasoline shopper and user. If you know even a little bit about the gas business, you can save hundreds of dollars a year on the purchase of gasoline. Here are some tips:
There is More to Saving Money on Gas than just Purchase Price
Nothing Beats Planning
One of the challenges facing most of us today is keeping the cost of every day expenses in the ballpark. Unless you have a stadium-sized budget, you’re not going to keep the price of gasoline within the confines of what one would consider an affordable arena.
You’re not going to beat gas price increases but you can become a smarter gasoline shopper and user. If you know even a little bit about the gas business, you can save hundreds of dollars a year on the purchase of gasoline. Here are some tips:
- Do you drive a lot of miles? Gas prices vary from city to city and from area to area. Since gas prices can vary as much as a quarter a gallon, you can save $500 to $800 a year by doing some savvy gas shopping.
- Tradition says the better the neighborhood, the higher the prices. Shopping for gas on “the other side of the tracks” might save you money.
- Never buy gas along an interstate or a freeway. Prices are almost always higher there.
- Price wars for gasoline sales still exist. Watch for them. Check www.gasbuddy.com for the best prices where you live.
There is More to Saving Money on Gas than just Purchase Price
- Keep your vehicle tuned. Use the recommended motor oil, replace dirty air filters and keep your tires—including the spare—inflated to the proper pressure.
- Experts say moderate driving can save you 30% in gasoline use. Don’t floor it at stop signs and green lights, never slam on the gas at the last minute and keep acceleration level. Save up to 14% on longer trips by reducing speed.
- Do the speed limit. On a highway, 55 mph gets you 21% better mileage than traveling 65 or 70.
- Extra pounds on the roof, on the seats, and in the trunk make your vehicle work harder and eat up the gas.
- Do you really need to drive? Walking or bicycling is good for the waist line and the wallet.
- Avoid rush hour traffic whenever possible.
- Most vehicles are very efficient when it comes to wind resistance up to 40 mph. After that, wind becomes a drag.
- Even on cold mornings, don’t let your vehicle sit there and idle. A 30-45 second warm-up is enough.
- Don’t rev your vehicle. Use the accelerator for its intended use—accelerating.
- Open windows at higher speeds causes drag and drops your miles per gallon average by 10%.
- Plan for hills. Speed up before, not on the hill.
- Next time you buy a vehicle, think about a hybrid or, at the very least, a more efficient vehicle.
Nothing Beats Planning
- Know where you’re going before you start your trip. Pick the shortest route. If you’re in doubt, MapQuest it or use your vehicle’s GPS system.
- Eliminate compulsive driving. Plan your errands. Cram two days worth of errands into one and make more detailed shopping lists.
- Shop online and have goods delivered to you.
- Consider carpooling or public transportation.
Insuring Your Motorcycle: Are you read to hit the open road?
Spring is coming and it’s time to get your motorcycle insured! We have just the policy for you: The rates you deserve as a responsible driver with discounts for insuring more than one bike, touring bikes, and completing a Motorcycle Foundation Safety course.
This year there will be nearly 6 million motorcycles on the roads. What can you do to protect yourself and your bike?
In 2002 there were approximately 70,000 motorcycle riders injured in traffic accidents. More than 3200 of those injuries were fatal, with 50% of the fatalities being alcohol related. Motorcycle accidents often result in serious fractures of the arms and legs, and the medical expense and wage loss can be staggering. Statistics show that less than 10% of the riders involved in accidents are insured.
Carefully read your insurance policies to be sure you are adequately covered.
It is a good idea to carry as much Liability coverage as you can. The bodily injury is to pay injuries you cause to another person. If you carry $25,000 and seriously injure a pedestrian, for example, he can put a lien on your home and garnish your wages. If you have a property damage limit of $10,000 and hit a Mercedes, you may find yourself paying out of pocket.
Uninsured Motorist coverage takes care of your injuries if the person who hits you has limits too low to cover them. It could save you a bundle of money if you are seriously injured.
Comprehensive and Collision coverage will cover most losses to your bike up to the actual cash value before it was damaged, minus your deductible. Physical damage rates vary by type and size of the motorcycle. Those racy sport bikes usually cost the most to insure. Read your policy to see exactly what is covered.
You can get coverage for parts and equipment that are not standard. Be sure you ask about additional coverage for these items.
Helpful tips from experienced riders:
Let us handle your motorcycle insurance! Getting a quote is fast and easy!
Spring is coming and it’s time to get your motorcycle insured! We have just the policy for you: The rates you deserve as a responsible driver with discounts for insuring more than one bike, touring bikes, and completing a Motorcycle Foundation Safety course.
This year there will be nearly 6 million motorcycles on the roads. What can you do to protect yourself and your bike?
In 2002 there were approximately 70,000 motorcycle riders injured in traffic accidents. More than 3200 of those injuries were fatal, with 50% of the fatalities being alcohol related. Motorcycle accidents often result in serious fractures of the arms and legs, and the medical expense and wage loss can be staggering. Statistics show that less than 10% of the riders involved in accidents are insured.
Carefully read your insurance policies to be sure you are adequately covered.
It is a good idea to carry as much Liability coverage as you can. The bodily injury is to pay injuries you cause to another person. If you carry $25,000 and seriously injure a pedestrian, for example, he can put a lien on your home and garnish your wages. If you have a property damage limit of $10,000 and hit a Mercedes, you may find yourself paying out of pocket.
Uninsured Motorist coverage takes care of your injuries if the person who hits you has limits too low to cover them. It could save you a bundle of money if you are seriously injured.
Comprehensive and Collision coverage will cover most losses to your bike up to the actual cash value before it was damaged, minus your deductible. Physical damage rates vary by type and size of the motorcycle. Those racy sport bikes usually cost the most to insure. Read your policy to see exactly what is covered.
You can get coverage for parts and equipment that are not standard. Be sure you ask about additional coverage for these items.
Helpful tips from experienced riders:
- Riders in the 16 to 24 age group have a high incidence of accidents. Look ahead and plan ahead. Look as far down the road as you can. Scan the road surface for trash, bumps, holes, spills, and puddles, observing how other vehicles are reacting to the road. Watch for brake lights, swerves, bumps, etc.
- Practice hard braking in vacant parking lots so you will know how your bike will react in an emergency situation. In 2/3 of all single vehicle accidents, rider error was the precipitating factor, with a major portion coming from slide out and falls due to over braking.
- In 2/3 of multiple vehicle motorcycle accidents, the other driver did not see the motorcycle. Wear bright colors like orange or red. Windshields and fairings also increase the visibility of the bike.
- Bike covers help prevent vandalism and thieves will be less motivated if they can’t see what your bike is.
- Park your bike where it is not readily accessible.
Let us handle your motorcycle insurance! Getting a quote is fast and easy!
Boating Season is Here! What you need to know before you launch out
If you own a boat or personal watercraft, as the weather gets warmer and the days longer, your thoughts turn towards the water. Many do not realize that more than 70% of all boating accidents are due to inattention, speeding or boating under the influence of drugs and alcohol, warns the U.S. Coast Guard. The key to preventing boating accidents is education. Last year, 80% of all boating fatalities occurred on boats where the operator had not completed a boating safety course.
Although collision with another boat is the most reported type of accident, hurricanes, theft and fire also pose a significant threat to boat owners. In fact, more than $40 million dollars worth of boats are stolen each year, according to the National Insurance Crime Bureau.
With private boats costing thousands or even millions, having the appropriate property and liability coverage is essential.
Canoes, small sail boats, and boats equipped with motors that are less than 25 mph are generally covered under a homeowners or renters insurance policy. Coverage is usually about $1,000 or 10% of the home’s property value and it generally includes the boat, motor, and trailer combined. Liability coverage is typically not included—but it can be added as an endorsement to a homeowners policy.
Larger and faster boats, yachts, and personal watercrafts such as jet skis and wave runners require a separate boat insurance policy. For yachts, damage to the craft, including the hull, is covered. These policies also provide broader liability protection. A boat insurance policy will cover:
Most insurance companies offer liability limits starting at $15,000 and can be increased to $300,000. Typical policies include deductibles of $250 for property damage, $500 for theft and $1,000 for medical payments. Additional coverage can be purchased for trailers and other accessories. Boat owners may also consider purchasing a personal excess liability policy which will provide additional protection for their boat, home and car.
The type of vessel, the horsepower of the engines, the value of the vessel, and the location where it is kept are all factors in determining coverage and premium.
Another variable influencing the cost of boat insurance is the water where it’s used. Sailing in the ocean is generally riskier than sailing a quiet lake.
Boat owners should also find out about available discounts, including ones for diesel powered crafts (considered less hazardous than gasoline), Coast Guard approved fire extinguishers, ship-to-shore radios, claims-free experience, multi-policy with the same insurer (such as a car, home or personal excess policy), and safety education courses.
To be a safer boater, the U.S. Coast Guard suggests that you:
Get a free vessel safety check by calling 1-800-368-5647or visiting http://www.vesselsafetycheck.org.
Monitor the weather forecast and let someone know where you’re going and when to expect you.
Check engine, fuel, electrical and steering systems, especially or exhaust-system leaks.
Keep marine-type fire extinguishers accessible and in good condition for immediate use. Make sure they are matched to the size and type of the boat.
Equip the vessel with required navigation lights and with a whistle, horn or bell. Consider additional safety devices, such as a paddle or oars, a first-aid kit, a supply of fresh water, a tool kit and spare parts, a flashlight, flares and a radio.
Make sure that every person on board wears a life jacket and don’t permit riding on the bow, seatbacks, or gunwales. Every year, 80% boater fatalities are attributed to a missing life jacket.
Never boat under the influence. Alcohol is involved in more than one third of all boating fatalities.
If you own a boat or personal watercraft, as the weather gets warmer and the days longer, your thoughts turn towards the water. Many do not realize that more than 70% of all boating accidents are due to inattention, speeding or boating under the influence of drugs and alcohol, warns the U.S. Coast Guard. The key to preventing boating accidents is education. Last year, 80% of all boating fatalities occurred on boats where the operator had not completed a boating safety course.
Although collision with another boat is the most reported type of accident, hurricanes, theft and fire also pose a significant threat to boat owners. In fact, more than $40 million dollars worth of boats are stolen each year, according to the National Insurance Crime Bureau.
With private boats costing thousands or even millions, having the appropriate property and liability coverage is essential.
Canoes, small sail boats, and boats equipped with motors that are less than 25 mph are generally covered under a homeowners or renters insurance policy. Coverage is usually about $1,000 or 10% of the home’s property value and it generally includes the boat, motor, and trailer combined. Liability coverage is typically not included—but it can be added as an endorsement to a homeowners policy.
Larger and faster boats, yachts, and personal watercrafts such as jet skis and wave runners require a separate boat insurance policy. For yachts, damage to the craft, including the hull, is covered. These policies also provide broader liability protection. A boat insurance policy will cover:
- Bodily injury—for injuries caused to another person.
- Property damage—for damage caused to someone else’s property.
- Guest passenger liability—for any legal expenses incurred by someone using the boat with the owner’s permission.
- Medical payments—for injuries to the boat owner and other passengers.
- Theft.
Most insurance companies offer liability limits starting at $15,000 and can be increased to $300,000. Typical policies include deductibles of $250 for property damage, $500 for theft and $1,000 for medical payments. Additional coverage can be purchased for trailers and other accessories. Boat owners may also consider purchasing a personal excess liability policy which will provide additional protection for their boat, home and car.
The type of vessel, the horsepower of the engines, the value of the vessel, and the location where it is kept are all factors in determining coverage and premium.
Another variable influencing the cost of boat insurance is the water where it’s used. Sailing in the ocean is generally riskier than sailing a quiet lake.
Boat owners should also find out about available discounts, including ones for diesel powered crafts (considered less hazardous than gasoline), Coast Guard approved fire extinguishers, ship-to-shore radios, claims-free experience, multi-policy with the same insurer (such as a car, home or personal excess policy), and safety education courses.
To be a safer boater, the U.S. Coast Guard suggests that you:
Get a free vessel safety check by calling 1-800-368-5647or visiting http://www.vesselsafetycheck.org.
Monitor the weather forecast and let someone know where you’re going and when to expect you.
Check engine, fuel, electrical and steering systems, especially or exhaust-system leaks.
Keep marine-type fire extinguishers accessible and in good condition for immediate use. Make sure they are matched to the size and type of the boat.
Equip the vessel with required navigation lights and with a whistle, horn or bell. Consider additional safety devices, such as a paddle or oars, a first-aid kit, a supply of fresh water, a tool kit and spare parts, a flashlight, flares and a radio.
Make sure that every person on board wears a life jacket and don’t permit riding on the bow, seatbacks, or gunwales. Every year, 80% boater fatalities are attributed to a missing life jacket.
Never boat under the influence. Alcohol is involved in more than one third of all boating fatalities.
Going on Vacation? Planning to Rent a Car? What you need to know before go.
Typically your Personal Auto Policy will cover you when you rent a car on vacation for the same coverages, limits and deductibles that you have on your personally owned cars, if you have what is referred to as "full coverage". If you only have liability coverage on your personally owned cars, you will definitely want to get the insurance offered by the rental car agency.
However there are things that your Personal Auto Policy will not cover and that is COLLISION DAMAGE WAIVER or LOSS DAMAGE WAIVER (CDW/LDW) coverage that is offered to you at the rental car counter. Some credit cards offer this coverage as a benefit of the card (you may want to check with your credit card company), if you are unsure if your card offers this to you as a benefit you may want to opt to select this coverage.
The Top 10 Reasons to Purchase the Rental Car CDW/LDW
To paraphrase Shakespeare, “To purchase the CDW or not to purchase the CDW, that
is the question.” It has been debated for years whether or not a person renting a
vehicle should purchase the Collision (or Loss) Damage Waiver from the rental company.
Our recommendation is that consumers, in general, SHOULD purchase
the CDW/LDW, at least for short-term rentals. Our reasons are given below.
Other Tips:
When you rent a vehicle, ask for an advance copy of the rental agreement in order to determine your contractual obligations for damage...a few rental car companies post this information on their web sites. Here is a listing of several national rental car company web sites:
In addition, if you will be traveling abroad, check out www.auto-europe.com for information about driving requirements and rental car programs in Europe and other countries around the world.
Copyright 1999 by Independent Insurance Agents of America. All rights reserved.
Typically your Personal Auto Policy will cover you when you rent a car on vacation for the same coverages, limits and deductibles that you have on your personally owned cars, if you have what is referred to as "full coverage". If you only have liability coverage on your personally owned cars, you will definitely want to get the insurance offered by the rental car agency.
However there are things that your Personal Auto Policy will not cover and that is COLLISION DAMAGE WAIVER or LOSS DAMAGE WAIVER (CDW/LDW) coverage that is offered to you at the rental car counter. Some credit cards offer this coverage as a benefit of the card (you may want to check with your credit card company), if you are unsure if your card offers this to you as a benefit you may want to opt to select this coverage.
The Top 10 Reasons to Purchase the Rental Car CDW/LDW
To paraphrase Shakespeare, “To purchase the CDW or not to purchase the CDW, that
is the question.” It has been debated for years whether or not a person renting a
vehicle should purchase the Collision (or Loss) Damage Waiver from the rental company.
Our recommendation is that consumers, in general, SHOULD purchase
the CDW/LDW, at least for short-term rentals. Our reasons are given below.
1. Loss Valuation. The Personal Auto Policy (PAP) covers the lesser of the “actual cash value” of the vehicle or the amount “necessary” to repair or replace the damaged property. The rental agreement may very well contractually obligate you to reimburse the rental company for the “full value” of the vehicle. The PAP also does not pay for any “betterment” (increased value of new parts replacing old ones) of the vehicle, nor any “diminution” of value (if the market value of the vehicle after repairs is less than that before the accident).Although most CDW/LDW fees are considered outrageous, if not unconscionable, we advise you to purchase the CDW/LDW for short-term rentals. If anything, this will give you peace of mind while on vacation or business, and it could save you from a lot of inconvenience and lost time and money.
2. Loss Settlement. As implied above, there may very well be disagreement over the value of the vehicle or the amount charged for labor and materials to repair it. Your auto policy’s Appraisal clause may be invoked with its accompanying costs. More importantly, the insurance company has the right to “...inspect and appraise the damaged property before its repair or disposal.” However, the rental company, unlike you, is not contractually obligated to the insurer...it may choose to make the repairs immediately, potentially resulting in a lack of PAP coverage because of failure to comply with this contractual condition. In any case, purchase of the CDW usually allows the renter to “walk away” without the headaches involved in adjusting an auto claim.
3. Loss Payment. The rental agreement may require immediate reimbursement for damages, and it is customary practice for the rental company to charge your credit card. This can create a significant debt, “max” out the card's credit limit (perhaps shortening a vacation or business trip), result in litigation, etc.
4. Loss Damage Waivers (LDW). Rental agreements often make the renter responsible for any loss in value beyond normal wear and tear, regardless of the cause and regardless of fault. In order for your PAP to respond, you must insure at least one vehicle for both collision and other-than-collision (often called “comprehensive”) coverage. If not, your policy will not respond to rental car damage and loss of use claims.
5. Indirect Losses. You will most likely will be responsible for the rental company’s loss of rental income on the damaged unit. Your policy has limited coverage for these charges.
6. Administrative Expenses. The rental contract may make the insured liable for various “administrative” or loss-related expenses such as towing (e.g., one insured was charged for a 230-mile tow), appraisal, claims adjustment, storage, etc. Some of these expenses may not be covered by the PAP.
7. Other Insurance. The PAP says that it is excess over: (1) any coverage provided by the owner of the auto, (2) any other applicable physical damage insurance, and (3) any other source of recovery applicable to the loss— travel policies, credit card coverages, etc. The potential controversy over who pays what is obvious and can result in litigation. In addition, keep in mind that many states have statutes, proprietary policy forms, and/or case law precedents that may govern this and other rental car exposures.
8. Excluded Vehicles & Territories. The PAP normally does not provide physical damage coverage for motorcycles, mopeds, motor homes, or other vehicles that are not private passenger autos, pickups, vans, or trailers. In addition, use of covered vehicles is limited to the U.S., its territories and possessions, Puerto Rico, and Canada (the rental agreement may also exclude operation outside a specific geographical area). If you rent a trailer (U-Haul, camper trailer, etc.), coverage is limited to $500.
9. Excluded Uses & Drivers. The PAP may have limitations on use of vehicles that are not otherwise excluded by the rental agreement CDW or LDW. Also, the PAP may include an exclusionary endorsement for certain drivers or may apply only to designated individuals—the CDW will probably also only apply to certain individuals, but operators for which no PAP coverage is available may be afforded protection under the rental agreement by adding them as designated drivers.
10. Additional and/or Future Costs. The PAP will most certainly include a deductible in the range of $100-$500 or more. In addition, payment for damage to a rental car may result in a significant premium increase (if not nonrenewal) via surcharges or loss of credits.
Other Tips:
When you rent a vehicle, ask for an advance copy of the rental agreement in order to determine your contractual obligations for damage...a few rental car companies post this information on their web sites. Here is a listing of several national rental car company web sites:
- Advantage www.arac.com
- Alamo www.goalamo.com
- Avis www.avis.com
- Budget www.budget.com
- Dollar www.dollar.com
- Hertz www.hertz.com
- National www.nationalcar.com
- Payless www.paylesscar.com
- Thrifty www.thrifty.com
In addition, if you will be traveling abroad, check out www.auto-europe.com for information about driving requirements and rental car programs in Europe and other countries around the world.
- Be sure to inspect the rental vehicle for existing damage to the interior and exterior and get their acknowledgement of such damage in writing before leaving the premises.
- Be sure to take proof of insurance with you on your trip.
- Carry an inexpensive disposable camera with you on your trip to document existing damage or damage that may occur while using the vehicle.
Copyright 1999 by Independent Insurance Agents of America. All rights reserved.
The High Cost of Speeding...
Speeding is a contributing factor in 30% of all traffic fatalities. The economic cost to taxpayers is estimated to be $40.4 billion per year and there is no way to estimate the effect on individual insurance premiums, but it is easy to see from the following information why the driver who speeds pays a higher premium than the one who does not.
For drivers involved in fatal crashes, young males are the most likely to be speeding.
For both speeding and nonspeeding drivers involved in fatal crashes, the percentage of those who had been drinking at the time the crash occurred was higher at night than during the day. Between midnight and 3 a.m., 77 percent of speeding drivers involved in fatal crashes had been drinking.
In 2004, 36 percent of all motorcyclists involved in fatal crashes were speeding approximately twice the rate for drivers of passenger cars or light trucks. The percentage of alcohol involvement was 31 percent higher for motorcyclists than for drivers of passenger vehicles.
In 2004, fewer drivers who were involved in fatal crashes were wearing safety belts at the time of the crash than those who were not.
For more information:
General information on highway traffic safety can be accessed by Internet users at www.nhtsa.dot.gov/people/ncsa.
Speeding is a contributing factor in 30% of all traffic fatalities. The economic cost to taxpayers is estimated to be $40.4 billion per year and there is no way to estimate the effect on individual insurance premiums, but it is easy to see from the following information why the driver who speeds pays a higher premium than the one who does not.
For drivers involved in fatal crashes, young males are the most likely to be speeding.
For both speeding and nonspeeding drivers involved in fatal crashes, the percentage of those who had been drinking at the time the crash occurred was higher at night than during the day. Between midnight and 3 a.m., 77 percent of speeding drivers involved in fatal crashes had been drinking.
In 2004, 36 percent of all motorcyclists involved in fatal crashes were speeding approximately twice the rate for drivers of passenger cars or light trucks. The percentage of alcohol involvement was 31 percent higher for motorcyclists than for drivers of passenger vehicles.
In 2004, fewer drivers who were involved in fatal crashes were wearing safety belts at the time of the crash than those who were not.
For more information:
General information on highway traffic safety can be accessed by Internet users at www.nhtsa.dot.gov/people/ncsa.
Auto Gap Coverage
By Kelly Clark - president
Are you upside down in your car loan?
If you’re like many people you’re looking forward to driving that brand new car off the lot. The shine and the new car smells can quickly become an odor of nagging proportions if you have an accident and the car is totaled and you owe more than the car is worth.
Auto insurance claims are settled on an actual cash value basis for total losses.
The rub is, new cars depreciate quickly once you drive off the lot. If your down payment was minimal, you may be upside down in the loan to value for a few years.
We can help with auto gap coverage. The cost is $1 or $2 per month on your car insurance policy. After you are right side up in the loan, give us a call and we can delete the coverage. A great value!
The alternative is buy gap coverage from the car dealer. The cost is $400 to $600 depending on the term of the car loan. This cost is added to the loan balance and accrues additional interest charges.
The worst situation is no coverage, no car, and the balance of the totaled car loan to continue to pay off.
Take the first option call Century Insurance and we will save you big bucks and give you peace of mind.
By Kelly Clark - president
Are you upside down in your car loan?
If you’re like many people you’re looking forward to driving that brand new car off the lot. The shine and the new car smells can quickly become an odor of nagging proportions if you have an accident and the car is totaled and you owe more than the car is worth.
Auto insurance claims are settled on an actual cash value basis for total losses.
The rub is, new cars depreciate quickly once you drive off the lot. If your down payment was minimal, you may be upside down in the loan to value for a few years.
We can help with auto gap coverage. The cost is $1 or $2 per month on your car insurance policy. After you are right side up in the loan, give us a call and we can delete the coverage. A great value!
The alternative is buy gap coverage from the car dealer. The cost is $400 to $600 depending on the term of the car loan. This cost is added to the loan balance and accrues additional interest charges.
The worst situation is no coverage, no car, and the balance of the totaled car loan to continue to pay off.
Take the first option call Century Insurance and we will save you big bucks and give you peace of mind.
Winter Driving - Your in the drivers seat be prepared. Be safe.
With old man winter upon us we normally get busy with the holidays and New Year resolutions. At this time of year we need remember some key points about driving in the winter months and avoiding accidents.
Preparing your vehicle:
It is important to keep your vehicle well maintained and in good running condition all year long for safety and fuel economy. It is even more essential in the winter months to prepare your vehicle by performing the following safety steps:
Know your vehicle:
Become familiar with the owners manual. Winterize and check the following:
Keep your fuel tank full to minimize condensation and provide comfort and security in case of delays
Have a cell phone or CB radio in the car; it can be a lifesaver for you or another stranded motorist in case of an emergency or accident.
Have an emergency kit with safety equipment in your car, including but not limited to:
Safe Winter Driving Tips
Know current road conditions:
By observing these tips and staying informed you will have a safer winter driving season and avoid meeting other people by accident.
With old man winter upon us we normally get busy with the holidays and New Year resolutions. At this time of year we need remember some key points about driving in the winter months and avoiding accidents.
Preparing your vehicle:
It is important to keep your vehicle well maintained and in good running condition all year long for safety and fuel economy. It is even more essential in the winter months to prepare your vehicle by performing the following safety steps:
Know your vehicle:
Become familiar with the owners manual. Winterize and check the following:
- Battery and lights
- Defroster and heating system
- Motor Oil
- Wiper blades and windshield wiper fluid
- Anti-freeze
- Belts, hoses and filters
- Tire pressure and tread depth
- Brakes and brake fluid
Keep your fuel tank full to minimize condensation and provide comfort and security in case of delays
Have a cell phone or CB radio in the car; it can be a lifesaver for you or another stranded motorist in case of an emergency or accident.
Have an emergency kit with safety equipment in your car, including but not limited to:
- De-Icer
- Ice Scraper and Snow Brush
- Small Shovel
- Jumper Cables
- Sand or Cat Litter for extra traction
- Road Flares
- Blankets
- Boots, Gloves and Extra Warm Clothing
- Flashlight with Extra Batteries
- Food and Water
- First Aid kit
Safe Winter Driving Tips
- Clear all snow and ice from your windows and lights – including the hood and roof - before driving
- Drive with your headlights on – this will make you more visible to other drivers and help you see the obstacles in the road more easily.
-
Slow down and pay attention. Give yourself extra time to reach your destination. Don’t try to out-drive the conditions. Keep your eye on the traffic ahead of you. Watch for the brake lights; actions by other drivers can alert you to problems ahead and give you extra time to respond.
- Leave plenty of room between you and the other drivers. When it comes to maintenance vehicles and snow plows - stay 200 feet back (at least 15 car lengths) and don’t pass on the right.
- Don’t use your cruise control or overdrive in wintry conditions. Even when the roads appear clear there can be slippery spots, and a short tap of the brakes can de-activate the cruise control and cause you to lose control of your vehicle.
- Use brakes carefully. Brake early. Brake correctly. Remember it takes more time to stop in adverse conditions. Don’t pump anti-lock brakes when attempting to stop. The right way is to “stop and steer"!
- Remember, that trucks are heavier than cars. Trucks take longer to stop, so don’t cut in front of them.
- Don’t get over confident in your four wheel drive vehicle. Four wheel drive may help you get going quicker, but will not help you stop faster – due to the weight it may actually take longer for you to stop. Your four wheel drive can also lose traction just as quickly as a two wheel drive vehicle.
Know current road conditions:
- Call 511 for travel and weather information
- View weather and traffic information at www.wsdot.wa.gov/traffic for Washington or www.511.idaho.gov for Idaho, these will advise you of weather, road and pass conditions in our area.
- Watch and/or listen to local new reports for weather and traffic reports and updates.
- Observe and heed information displayed on electronic highway signs.
By observing these tips and staying informed you will have a safer winter driving season and avoid meeting other people by accident.
Do you suspect your identity information has been compromised?
It is estimated that 1 in 5 families in the United States has been the victim of identity theft. Criminals use your
good name, social security number, credit card number or other pieces of your personal information for their own
gain. And then, you waste valuable time and energy trying to clear your good name. Some insurance companies
offer Identity Theft protection to their customers at little or no cost as an added benefit. Check with your agent
to see if this coverage is available on your policy.
How do they do it?
Theft of wallets and purses was once the most common way to obtain identity documents and account
information. Today, identity thieves attack virtually every area of an individual's life. These are among the most
common methods:
10 Ways to Protect Against Mail Theft
What are the risks of using the Internet and other networks?
There are three main threats to the data on your computer: malicious software, network intrusion by hackers, and
physical theft.
To protect your computer against viruses, spyware, and Trojan horse programs (which let hackers control your
computer), you must use antivirus software — and keep it updated. To keep intruders out, connect to the Internet
through a properly configured firewall, which can be software or device-based; this is especially important if you
have an "always on" Internet connection, such as a cable modem or DSL. Avoid using public computers for online
banking, email account access, or other sensitive exchanges of information — keystroke loggers, web "cookies,"
or cached pages may be capturing your data. Similarly, be cautious in sending sensitive data over wireless
networks. And be careful what you send via email — unencrypted text and attachments can be intercepted as
they travel across the Internet.
Finally, beware of "phishing" and "pharming" scams, which use fake corporate email, redirected web addresses,
and "cloned" corporate web pages to plant viruses and con users into providing sensitive information. Never
provide identity or account information in response to an email, or if you have any doubt about the authenticity of
a web site.
It is estimated that 1 in 5 families in the United States has been the victim of identity theft. Criminals use your
good name, social security number, credit card number or other pieces of your personal information for their own
gain. And then, you waste valuable time and energy trying to clear your good name. Some insurance companies
offer Identity Theft protection to their customers at little or no cost as an added benefit. Check with your agent
to see if this coverage is available on your policy.
How do they do it?
Theft of wallets and purses was once the most common way to obtain identity documents and account
information. Today, identity thieves attack virtually every area of an individual's life. These are among the most
common methods:
- Dumpster diving in trash bins for credit card statements, loan applications, and other documents containing names, addresses, account information, and SSNs.
- Stealing mail from unlocked mailboxes to get pre-approved credit offers, credit cards, utility bills, bank and credit card statements, investment reports, insurance statements, benefits documents, and tax information.
- Impersonating a loan officer, employer, or landlord to get fraudulent access to credit files.
- Insider access to names, addresses, birth dates, and SSNs in personnel or customer files.
- Shoulder surfing at ATM machines and phone booths to capture PINs.
- Online sources of personal data, such as public records and fee-based information sites.
10 Ways to Protect Against Mail Theft
- Never put outbound mail into an unsecured mailbox, especially if it contains checks or sensitive personal information. Instead, take it to a U.S. Post Office branch or place it in a U.S.P.S. mail collection box.
- Always use a locking mailbox for incoming mail. Install a locking mailbox approved as secure by the U.S. Postal Service or use a U.S. Post Office box. Contact your local Postmaster for regulations and specifications regarding locking mailboxes.
- Remove mail from your mailbox promptly, especially if your mailbox is not secure. If you won't be home when sensitive or valuable mail is delivered, have it held or have a trusted neighbor or friend retrieve it.
- Don't have blank checks delivered to your home address. Instead, have them held at your bank branch until you can pick them up personally.
- Don't have mail delivered while you're out of town. Have the post office hold your mail if you'll be away.
- Reduce the number of credit offers sent to you by mail. Contact the three major credit reporting agencies and have your credit report marked "no solicitation."
- Make sure you're informed when sensitive mail has been sent to you, and follow up quickly if it doesn't arrive as expected.
- Consider starting or joining a Neighborhood Watch program. If you see a mail theft in progress, be a good witness by calling 911 and providing the best possible description of any persons and vehicles involved.
- At the workplace, watch out for "Financial Friday" mail theft. Leaving mail in unsecured locations over the weekend in order to leave work a little earlier is a dangerous practice that identity thieves know and exploit.
- If you feel you've been victimized in a mail fraud scheme that involves the U.S. Mail, submit a Mail Fraud Complaint Form to the U.S. Postal Inspection Service. If you have become a victim of identity theft, contact the FTC, the credit bureaus, and your bank, and obtain expert guidance immediately to resolve your problem as quickly as possible.
What are the risks of using the Internet and other networks?
There are three main threats to the data on your computer: malicious software, network intrusion by hackers, and
physical theft.
To protect your computer against viruses, spyware, and Trojan horse programs (which let hackers control your
computer), you must use antivirus software — and keep it updated. To keep intruders out, connect to the Internet
through a properly configured firewall, which can be software or device-based; this is especially important if you
have an "always on" Internet connection, such as a cable modem or DSL. Avoid using public computers for online
banking, email account access, or other sensitive exchanges of information — keystroke loggers, web "cookies,"
or cached pages may be capturing your data. Similarly, be cautious in sending sensitive data over wireless
networks. And be careful what you send via email — unencrypted text and attachments can be intercepted as
they travel across the Internet.
Finally, beware of "phishing" and "pharming" scams, which use fake corporate email, redirected web addresses,
and "cloned" corporate web pages to plant viruses and con users into providing sensitive information. Never
provide identity or account information in response to an email, or if you have any doubt about the authenticity of
a web site.
Snowbirds - Heading south for the winter?
An option for the care and protection of your home while you are away.
A NO COST Service provided to you by Diana's Home Sitting Services Inc.
Lucky you, for being able to follow that warm and comfortable weather while most of us are in for what may be a long and cold winter! We know everyone wants a "worry free" time away when they leave, and to help accomplish that feeling we'd like to offer you our NO COST Service!
Diana's Home Sitting Services can provide a carefully screened and fully insured Home Sitter to maintain your home in immaculate condition as well as pay for all of your utilities! Imagine, leaving your home knowing that it is secure and should anything happen (i.e. furnace fails, pipes break, etc.) a responsible Sitter will immediately notify us and we will contact you and take the necessary steps to correct the situation and to avoid further damage.
Why not just rent your home? You can always do that, but, if you are like many others who have been in the position to rent a home or hire a person to care for your home, then you understand the "problems" associated with getting good, responsible renters/sitters. Many times you have no idea about the person's past history, credit or lifestyle. You have no control over whether they will take care of and properly maintain your property, no control over whether they will notify you of damage sustained, or even if they have insurance to cover excessive damage or liabilities.
Diana's Home Sitting Services understands these problems and risks. We provide careful and thorough screening of all our Home Sitters. We screen all applicants for:
In addition, our Home Sitters will pay your utility bills, and are required to carry a minimum $100,000 liability insurance policy. We perform impromptu inspections inside and outside the home to ensure that they are maintained in the immaculate condition that is expected by both you and us. Upon request we can also video your home prior to your leaving.
Our sitters can even feed and care for your pet, if you choose to leave one behind.
Our goal is to provide professional and reputable service to all our clients and sitters. We are confident that you will be pleased with our services. If you should have any questions or need any additional information or references, please do not hesitate to contact us. We look forward to talking with you.
For more information about this article
Please contact:
Diana Uphus
Diana's Home Sitting Services Inc
101 N Evergreen Rd
Spokane Valley, WA 99216
www.dianashomesitting.com
An option for the care and protection of your home while you are away.
A NO COST Service provided to you by Diana's Home Sitting Services Inc.
Lucky you, for being able to follow that warm and comfortable weather while most of us are in for what may be a long and cold winter! We know everyone wants a "worry free" time away when they leave, and to help accomplish that feeling we'd like to offer you our NO COST Service!
Diana's Home Sitting Services can provide a carefully screened and fully insured Home Sitter to maintain your home in immaculate condition as well as pay for all of your utilities! Imagine, leaving your home knowing that it is secure and should anything happen (i.e. furnace fails, pipes break, etc.) a responsible Sitter will immediately notify us and we will contact you and take the necessary steps to correct the situation and to avoid further damage.
Why not just rent your home? You can always do that, but, if you are like many others who have been in the position to rent a home or hire a person to care for your home, then you understand the "problems" associated with getting good, responsible renters/sitters. Many times you have no idea about the person's past history, credit or lifestyle. You have no control over whether they will take care of and properly maintain your property, no control over whether they will notify you of damage sustained, or even if they have insurance to cover excessive damage or liabilities.
Diana's Home Sitting Services understands these problems and risks. We provide careful and thorough screening of all our Home Sitters. We screen all applicants for:
- Consumer Profile — which verifies SS#
- Eviction History
- Public Records
- Criminal Background
- Credit Reports
- Wash/Idaho Sex offenders
- Residential History
- Employment Verification
- Rental Databases
In addition, our Home Sitters will pay your utility bills, and are required to carry a minimum $100,000 liability insurance policy. We perform impromptu inspections inside and outside the home to ensure that they are maintained in the immaculate condition that is expected by both you and us. Upon request we can also video your home prior to your leaving.
Our sitters can even feed and care for your pet, if you choose to leave one behind.
Our goal is to provide professional and reputable service to all our clients and sitters. We are confident that you will be pleased with our services. If you should have any questions or need any additional information or references, please do not hesitate to contact us. We look forward to talking with you.
For more information about this article
Please contact:
Diana Uphus
Diana's Home Sitting Services Inc
101 N Evergreen Rd
Spokane Valley, WA 99216
www.dianashomesitting.com
Term Life Insurance - Why should I buy It?
If you are wondering whether or not you should buy life insurance, ask yourself the following questions:
Have you recently… gotten married?
… increased your debt?
… had a baby?
Would your death leave your loved ones in a financial bind?
If you answer “yes” to any of these questions, it may be time to get serious about shopping for life insurance. Life insurance can offer you and your loved ones peace of mind, ensuring that your debts or loved ones are taken care of in the event of your death. It is quick and easy to get a quote and to see if you qualify.
What is Term Life Insurance and how do I qualify?
Term life insurance is pure insurance protection that pays a predetermined sum if you were to die during a specified period of time. Upon your death, term insurance would pay the face value of the policy to your loved ones (your named beneficiary). All premiums paid are used to cover the cost of this insurance protection. Because term insurance builds no cash value, some experts suggest that you buy term insurance and save the difference between the cost of term and permanent insurance. They further suggest that you put the money saved in an investment which will usually earn a higher rate of return and interest than that guaranteed on the savings portion of permanent insurance. According to these experts, if you do this, term insurance will be the best buy.
A term policy can be five, ten, twenty years or longer. But unless renewed the insurance coverage ends when the term expires. Term life insurance is sometimes referred to as “temporary insurance coverage”. It is the least expensive coverage to acquire. For example: A healthy 35 year-old (non-smoker) can usually obtain a 20-year level premium policy with a $250,000 face value, for as little as $15-$20 per month.
To determine if you qualify, most life-insurance policies require some type of medical exam to check for high cholesterol and blood-sugar levels. There will also be questions about such things as your age, height, weight, medical/family history, smoking, occupation and hobbies; all of which can affect the premium on a policy.
Some of the main characteristics of term life insurance:
Hold on now! What is this permanent life insurance?
Permanent life insurance provides lifetime insurance protection (does not expire), but the premiums must be paid on time and usually for the rest of your life. There are several types of permanent life insurance – whole, variable, universal, or a combination of these. Most of these types of policies have some advantages such as forced savings, tax-deferred income, the ability to borrow, extended terms, paid-up additions and investment potential. These advantages, in turn, cause premiums to be higher than those of term policies and often the premiums are only guaranteed (if at all) for a short time.
Some of the main characteristics of permanent life insurance:
Call us today! (509) 924-4424 or send us an email: Info@CenturyInsuranceAgency.com
If you are wondering whether or not you should buy life insurance, ask yourself the following questions:
Have you recently… gotten married?
… increased your debt?
… had a baby?
Would your death leave your loved ones in a financial bind?
If you answer “yes” to any of these questions, it may be time to get serious about shopping for life insurance. Life insurance can offer you and your loved ones peace of mind, ensuring that your debts or loved ones are taken care of in the event of your death. It is quick and easy to get a quote and to see if you qualify.
What is Term Life Insurance and how do I qualify?
Term life insurance is pure insurance protection that pays a predetermined sum if you were to die during a specified period of time. Upon your death, term insurance would pay the face value of the policy to your loved ones (your named beneficiary). All premiums paid are used to cover the cost of this insurance protection. Because term insurance builds no cash value, some experts suggest that you buy term insurance and save the difference between the cost of term and permanent insurance. They further suggest that you put the money saved in an investment which will usually earn a higher rate of return and interest than that guaranteed on the savings portion of permanent insurance. According to these experts, if you do this, term insurance will be the best buy.
A term policy can be five, ten, twenty years or longer. But unless renewed the insurance coverage ends when the term expires. Term life insurance is sometimes referred to as “temporary insurance coverage”. It is the least expensive coverage to acquire. For example: A healthy 35 year-old (non-smoker) can usually obtain a 20-year level premium policy with a $250,000 face value, for as little as $15-$20 per month.
To determine if you qualify, most life-insurance policies require some type of medical exam to check for high cholesterol and blood-sugar levels. There will also be questions about such things as your age, height, weight, medical/family history, smoking, occupation and hobbies; all of which can affect the premium on a policy.
Some of the main characteristics of term life insurance:
- Fixed terms up to 30 years
- Low cost
- Guaranteed rates
- Sometimes convertible to permanent life insurance
Hold on now! What is this permanent life insurance?
Permanent life insurance provides lifetime insurance protection (does not expire), but the premiums must be paid on time and usually for the rest of your life. There are several types of permanent life insurance – whole, variable, universal, or a combination of these. Most of these types of policies have some advantages such as forced savings, tax-deferred income, the ability to borrow, extended terms, paid-up additions and investment potential. These advantages, in turn, cause premiums to be higher than those of term policies and often the premiums are only guaranteed (if at all) for a short time.
Some of the main characteristics of permanent life insurance:
- Permanent insurance protection
- More expensive to own
- Builds cash value
- Loans are permitted against the policy
Call us today! (509) 924-4424 or send us an email: Info@CenturyInsuranceAgency.com
Preparing for Retirement: Some "Get It" Some Still Don't
Bonita K. Bell, NW Mutual Financial Network
An estimated 28 million families headed by a worker under age 65 had no retirement savings accounts in 2001. And, while the actual dollar amount of IRA contributions increased after new tax rules went into effect, it appears as if the actual number of taxpayers making contributions to an IRA is still declining, a trend dating back to 1997.
Despite the efforts of the government to help reverse this situation, two serious problems remain:
Are you saving enough for retirement? You don’t want to be working at age 70 unless it’s by choice. While some realize the importance of taking their retirement planning into their own hands, many continue to ignore the urgency of the matter. Consider the following as you look towards the future.
How and where to invest your money
It’s important to make sure your investments are as efficient and effective as possible. Are you in a tax bracket that makes tax-free investments more attractive? How do you get access to what you’ve saved without giving an unnecessary chunk of it to the government in taxes? Make sure you know all the tax implications of distributions from different types of assets especially if you are under age 59½.
Your overall asset allocation
As a general rule, your money should be allocated among different types of investments and appropriate to your risk tolerance, time frame and investment objectives. The closer you are to needing the cash, the fewer fluctuations you will probably want in the value of your portfolio.
Your asset needs are destined to change over time, so be sure to consider rebalancing your account periodically to better realign your financial future. Remember, no investment strategy can guarantee a profit or protect against a loss.
Set aside as much as you can afford
Here are several tax rules that may help you maximize the amount you put away for your retirement:
Tips for Preparing
IRAs appear likely to be the largest source of non-Social Security income in retirement for many in the next generation of retirees (baby boomers and beyond). Don’t wait any longer to make this investment.
The key to living the lifestyle you want in retirement is making the right decisions today. Start 2006 on the right foot by meeting with a financial professional to help you jump start your future.
[1] Journal of Pension Planning & Compliance “Retirement Savings and Household Wealth: A Summary of Recent Data”
[1] Employee Benefit Research Institute Notes, August 2004, Vol. 25, No. 8 This decline may be due to the availability of Roth IRAs, which was not discernable at the time of printing.
Bonita K. Bell, NW Mutual Financial Network
An estimated 28 million families headed by a worker under age 65 had no retirement savings accounts in 2001. And, while the actual dollar amount of IRA contributions increased after new tax rules went into effect, it appears as if the actual number of taxpayers making contributions to an IRA is still declining, a trend dating back to 1997.
Despite the efforts of the government to help reverse this situation, two serious problems remain:
- Americans aren’t saving enough money to adequately fund their retirements.
- The Social Security system will have increased demands placed on it as baby boomers age.
Are you saving enough for retirement? You don’t want to be working at age 70 unless it’s by choice. While some realize the importance of taking their retirement planning into their own hands, many continue to ignore the urgency of the matter. Consider the following as you look towards the future.
How and where to invest your money
It’s important to make sure your investments are as efficient and effective as possible. Are you in a tax bracket that makes tax-free investments more attractive? How do you get access to what you’ve saved without giving an unnecessary chunk of it to the government in taxes? Make sure you know all the tax implications of distributions from different types of assets especially if you are under age 59½.
Your overall asset allocation
As a general rule, your money should be allocated among different types of investments and appropriate to your risk tolerance, time frame and investment objectives. The closer you are to needing the cash, the fewer fluctuations you will probably want in the value of your portfolio.
Your asset needs are destined to change over time, so be sure to consider rebalancing your account periodically to better realign your financial future. Remember, no investment strategy can guarantee a profit or protect against a loss.
Set aside as much as you can afford
Here are several tax rules that may help you maximize the amount you put away for your retirement:
- Traditional and Roth IRAs – contribution limits (currently $4,000) increase to $5,000 in 2008 depending on your level of income.
- 401(k)s and Similar Plans – eligible deferrals increase from $14,000 in 2005 to $15,000 in 2006.
- SIMPLE IRA Plans – contribution limits of $10,000 as of 2005 ($12,000 if over 50).
- “Catch-up” Provisions for those over 50- Generally, anyone over age 50 can make additional contributions to certain retirement programs over the usual limits. Consult with a financial professional in your area for details.
Tips for Preparing
IRAs appear likely to be the largest source of non-Social Security income in retirement for many in the next generation of retirees (baby boomers and beyond). Don’t wait any longer to make this investment.
The key to living the lifestyle you want in retirement is making the right decisions today. Start 2006 on the right foot by meeting with a financial professional to help you jump start your future.
[1] Journal of Pension Planning & Compliance “Retirement Savings and Household Wealth: A Summary of Recent Data”
[1] Employee Benefit Research Institute Notes, August 2004, Vol. 25, No. 8 This decline may be due to the availability of Roth IRAs, which was not discernable at the time of printing.
Yours, Mine, Ours
How to pass down separately held property to children from a prior marriage without impoverishing your spouse.
As second marriages and blended families become the norm, many couples, particularly those who are married later in life, are recognizing the need to preserve their individual estates for their own children. Such was the case of Joe and Mary Smith (names changed to protect their privacy) who recently established mirror revocable trust with Northwest Trustee & Management Services.
At the time of their marriage, Joe and Mary each owned real estate and other assets. In the state of Washington, these assets are considered to be separate property. After almost two decades of marriage, the Smiths accumulated a substantial amount of community property. To further complicate matters, Joe and Mary each had adult children and grandchildren by prior marriages.
Mary’s attorney referred her to Northwest Trustee & Management Services upon recognizing the Smiths’ need for estate planning and management. After several meetings, the Smiths’ personal goals were clarified:
Here is how the trusts work: during the lifetimes of Joe and Mary, their trusts pay as much of the income or principal needed for their support and maintenance. After the lifetime of either Joe or Mary, his/her trust principal or income is available to provide support and maintenance for the surviving spouse after consideration of outside assets. After the death of both spouses, the assets held in each trust pass to their respective heirs.
Utilizing revocable trusts and the services of Northwest Trustee & Management Services, the Smith’s were able to:
For more information about this article,
How to pass down separately held property to children from a prior marriage without impoverishing your spouse.
As second marriages and blended families become the norm, many couples, particularly those who are married later in life, are recognizing the need to preserve their individual estates for their own children. Such was the case of Joe and Mary Smith (names changed to protect their privacy) who recently established mirror revocable trust with Northwest Trustee & Management Services.
At the time of their marriage, Joe and Mary each owned real estate and other assets. In the state of Washington, these assets are considered to be separate property. After almost two decades of marriage, the Smiths accumulated a substantial amount of community property. To further complicate matters, Joe and Mary each had adult children and grandchildren by prior marriages.
Mary’s attorney referred her to Northwest Trustee & Management Services upon recognizing the Smiths’ need for estate planning and management. After several meetings, the Smiths’ personal goals were clarified:
- Segregate their assets so their children by prior marriages will inherit only their parent’s share of the estate.
- Make their individual estates available to care for their surviving spouse.
- Protect themselves in the event of incapacity.
- Maintain a measure of control over their assets as long as they are capable to do so.
Here is how the trusts work: during the lifetimes of Joe and Mary, their trusts pay as much of the income or principal needed for their support and maintenance. After the lifetime of either Joe or Mary, his/her trust principal or income is available to provide support and maintenance for the surviving spouse after consideration of outside assets. After the death of both spouses, the assets held in each trust pass to their respective heirs.
Utilizing revocable trusts and the services of Northwest Trustee & Management Services, the Smith’s were able to:
- Meet their needs during their lifetimes, regardless of death or incapacity, and
- Make sure their children receive the inheritance their parents worked so diligently to accumulate during their lifetimesJoe and Mary found a win-win solution to a dilemma that otherwise could have caused hardship and dissension among their families.
For more information about this article,
Please contact:
Sandy Calbreath – Trust Officer
Northwest Trustee & Management Services
scalbreath@nwtrustee.com
Century Insurance Agency's Customer Privacy Statement
Century Insurance Agency appreciates the trust you place in us when you ask us to help protect your assets. You trust us with your private, personal information when you purchase insurance from us, and we are committed to protecting this information. Century Insurance Agency does not sell information about you to others.
To understand how Century Insurance Agency collects and uses your personal information, please read the following notice.
Century Insurance Agency’s sources of information about you
We collect personal information about you from:
- The information you provide on applications or other forms (such as your name, address and social security number)
- Your transactions with us (such as changes in your policies, payment history and claims information)
- The information we receive from a consumer reporting agency (such as your credit history)
- Your insurance company (such as updated information pertaining to your policies)
Century Insurance Agency’s use of your personal information
We treat your information with respect and concern for your privacy. We do not disclose any nonpublic personal information about our customers or former customers to anyone, except as permitted by law. For example, we may share any or all information we have collected about you to companies that perform services on our behalf.
When we make this type of disclosure, it is done to service your account or policy, or to inform you about products and services. Before disclosing any information, we require these companies to promise to keep it confidential and use it only for the transaction we request.
Your medical information
Century Insurance Agency obtains medical information only in connection with specific products or claims. We will not use or share personally identifiable medical information for any purpose other than the underwriting or administration of your policy, claim or account, or as otherwise disclosed to you when the information is collected.
Thank you from all of us at Century Insurance Agency!
Contact Century Today!
Call: (509) 924-4424
Fax: (509) 924-4481
Email: Info@CenturyInsuranceAgency.com
Located: 1406 N. Pines Rd Spokane Valley, 99206
Call: (509) 924-4424
Fax: (509) 924-4481
Email: Info@CenturyInsuranceAgency.com
Located: 1406 N. Pines Rd Spokane Valley, 99206
