Insurance Insights ~ October 1998

Blazing on the Trails

Whether your excitement is cruising your ATV or dirt bike on open trails, or taking a leisurely trip on your moped or scooter, be sure you have the correct coverage and policy that helps keep you and your recreation vehicle (RV) safe.

Some homeowner’s policies will only provide liability coverage while you are using the unit on your primary premises. Once you take the RV off your premises, liability coverage is void. Most policyholders believe they do not need additional coverage -- that they are covered under their home and/or auto policies. Check with your agent!

There is a remedy to this situation! You can purchase coverage through an agency that offers coverage with companies that specifically handle this type of exposure. Liability and package policies are available and are generally inexpensive depending on the type of RV you have. Your policy can cover you for damages done to your vehicle, injury to your passengers, as well as property damage to others.

Contact our agency for more information about this important coverage.

How to Hire a Good Contractor

Top 5 Contractor Scams:

1. Quote a low price for a needed repair; then use fake material to make the repair.
2. Explain a low price by saying they have material left over from another job. Then say they need more money and leave before they finish the job.
3. Quote a low price to do the work, and then present a bill for a much higher price.
4. They charge a fee to inspect a job and write-up an estimate. They tell you the fee applies to the job, but they never come back.
5. They take an advance deposit on a job and don’t return to do the work.

The need to hire a contractor should not make you cringe. Contrary to many stories, most contractors are honest and hardworking. But as with any profession a few bad apples can spoil an entire industry.

To avoid the fraudulent contractor learn to avoid them before they prey on you. Take the time and effort to research the right contractor for you. If they search you out, be cautious! These operators prey on unsophisticated homeowners, especially the elderly. They con victims into making unneeded repairs and do shoddy work. Sometimes they are just passing through towns and you usually never see them again.

What you can do to avoid being a victim:

• To protect yourself, don’t hire a contractor who does not have an established local reputation and a permanent address.
• Pass by any contractor who gives you a price too good to be true, or won’t submit a written bid or sign a contract.
• Don’t respond to high-pressure sales tactics.
• Never pay for the entire job in advance and never pay in cash.
• Educate yourself on material and construction costs before contacting the contractor.
• Get references!!!
• Check with the Better Business Bureau.
• Obtain a Certificate of Insurance making sure they maintain current workers’ compensation, property damage and personal liability. Make sure the contractor requires subcontractors to be insured too. In many states, if an uninsured worker is injured on your property, you are liable for medical and rehabilitation costs and lost wages.

Plan Now to Minimize Loss

Have you ever thought about what would happen if your home were damaged from a fire or other type of loss? Would you be able to remember everything that was lost? Do you have your important documents in a safe place, or would they be destroyed too?

Often, in the aftermath of a traumatic loss, it is nearly impossible to accurately recall all the information necessary to complete an accurate inventory of missing or lost items, and your important documents can take weeks or months to replace, if they can be replaced at all!

By planning ahead, and taking some preventive measures, you will be able to answer yes to the above questions, and save a lot of unnecessary anguish during a very traumatic time!

Start by preparing an inventory of your belongings. We offer a Household Inventory Record that will help you list the articles in your home, along with their value, and organize them room by room. Supplement this form with a videotape of each room for a complete inventory. Then put this information in a secure place outside of your home. In the event of a loss, this combination will be a big help for you and your family to recall what has been lost.

Important documents, such as birth certificates, marriage licenses, deeds, titles, wills, etc. will need to be protected against loss by fire or water. This is very important because certain documents cannot be replaced if lost or destroyed. Consider a safe deposit box for storing these documents. This is a very reasonable way to protect these vital records. Keep copies of the documents in your home files for accessibility.

Once you have stored the original documents in a safe deposit box or other secure location, you will need to record these arrangements so that the papers can be located if necessary. A Personal Record Book will help in this organization. You can include Social Security information, bank accounts, real estate, and any other information that may be needed in the event of a loss or emergency. This information will also be invaluable to your heirs when making a final estate settlement.

Once you have established this record, be sure to tell immediate family members where the book is kept. As a safeguard, a copy can also be given to a family member. Lastly, don’t forget to update both your home inventory and personal records at least once a year.

We at Weimer Insurance would like to help you get started with your personal inventory and records. Send us an e-mail (info@gcwinsure.com) to request your FREE Home Inventory Form and Personal Record Book. Don’t put it off -- do it today!

INSURANCE INSIGHTS is an electronic newsletter published monthly by G. C. Weimer Associates, Inc. Information contained herein is accurate to the best of our knowledge and belief as of 10/1/98. If you have a topic of interest for a future issue, e-mail us at info@gcwinsure.com.