Niagara National's Blog

Reduce Homeowners Insurance Premiums

niagaranational — Fri, 03 Feb 2012 15:42:36 +0000

Homeowners insurance premiums often take a substantial bite out of a family’s budget. You may, however, be paying too much for this coverage. The following are some approaches you can use to reduce your homeowners insurance costs.

If you have a new home or a renovated one, ask your agent about homeowners discounts. Many insurers offer discounts up to 25 percent for homes that are less than 5 or 10 years old since newer homes tend to experience fewer losses. In addition, homes that have substantial renovations can also qualify for this discount if the specified work has been performed by a qualified (licensed when necessary) contractor with proper documentation.
Make your home more disaster resistant. For example, you can make your home more resistant to hurricanes and other disasters by adding storm shutters, stronger doors, and reinforced roofing materials. Many insurance companies offer premium discounts for these types of home features.
Maintain an excellent credit rating. Insurance companies are increasingly using credit scores to determine homeowners insurance premiums. Establishing and maintaining a strong credit history can thus reduce your premiums.
Make sure your home is not overinsured. Remember that the value of your land and the value of your home are separate. If your home is destroyed and needs to be rebuilt, the focus should be on the replacement cost of your home itself and should not include the value of your land.
Seek out other discounts. Insurance companies offer a multitude of discounts that you should check into. For example, many insurers offer loss-free discounts, long-term customer discounts, multi-policy discounts, non-ssmoking and senior citizen discounts.

Eliminate Your Ice Dams

niagaranational — Mon, 23 Jan 2012 14:33:14 +0000

An ice dam is an accumulation of frozen water in the gutter system and at the roof edge that prevents subsequent drainage of melting snow from leaving the roof/gutter system. Ice dams are common in areas that receive heavy snow buildups.

In most cases, ice dams begin inside the house, when heated air leaks up into the unheated attic. In the winter, the roof above the unheated attic is cold. When warm air leaks into the attic, it creates warm areas on the roof, which cause the snow on the exterior of the roof to melt. The melting snow moves down the roof slope until it reaches the cold overhang, where it refreezes. The process continues, causing ice to build up along the eaves and form a dam. Eventually, this dam forces the water to back up under the shingles and sometimes into the ceiling or wall inside the home. This phenomenon may cause structural framing members to decay, metal fasteners to corrode, and mold to form in the attic and the wall surfaces. Few homeowners policies pay for ice dam removal. Interior or exterior damage, however, caused by an ice dam on the roof is typically covered under a special perils homeowners form.

There are measures that home owners in colder climates can take to reduce the chance of ice dams, including the following.

The services of a professional should be employed to remove heavy snow from your roof. This eliminates one of the ingredients necessary for the formation of an ice dam. Professionals are also able to address emergency situations in which water is flowing into the house structure. This is accomplished by making channels through the ice dam to allow the water behind the dam to drain off your roof. However, the channel becomes ineffective within days and is only a temporary solution to ice dam damage.
Your ceiling/roof insulation should be increased to reduce heat loss by conduction. Some state codes require an R-value of 38 above the ceiling for new homes. In narrow spaces, insulation products with high R-value (6–7) per inch are recommended. It is imperative that the ceiling be made airtight to prevent warm air within your home from flowing into the attic space.
Verify that there are sufficient soffit and gable end vents in your attic. These help to quickly vent any of the warm air that does get into the attic out into the atmosphere.

Is my GPS covered under my auto insurance policy?

niagaranational — Fri, 20 Jan 2012 15:19:30 +0000

Some may view them as science fiction gone wild. Others see them as indispensable, possibly life-saving tools. Regardless of your feelings about Global Positioning Systems (GPS), they continue to occupy the dashboards of millions of U.S.vehicles each year. The pervasiveness and expense of the technology has drivers asking if their GPS systems are covered by auto insurance.

Personal Auto Insurance

Whether its finding alternative routes to beat traffic or an Italian restaurant for the family, drivers rely on their GPS to get them places without the stress of winding up who knows where with an empty tank, no cellular service and shrieking children.

If you depend on your GPS to maintain safety and sanity in your personal vehicle, you should call your Trusted Choice® independent insurance agent and request that your auto insurance policy be endorsed to cover the system; failure to make this request will likely result in no coverage for the system after a loss. This is because most personal auto policies strictly limit or totally exclude coverage for GPS and other electronic devices in your car that are not used to operate the vehicle. Some policies will offer limited coverage for GPS devices that are built into the vehicle by the manufacturer or even some portable systems; however this is not the case for all policies and those that do include coverage are limited.

Business Auto Insurance

Any business person who has ever gotten lost finding a jobsite or received lousy directions to a meeting can attest to the value of a GPS system. Many businesses invest thousands into such systems for the mobile among their ranks—an investment that could be lost if the system is damaged in a crash or stolen.

Similar to personal auto insurance policies, covering a GPS device under a business auto insurance policy likely requires a call to your insurance agent. Your Trusted Choice® independent insurance agent should be able to endorse your policy to include coverage for the GPS system. This endorsement is necessary for most business auto policies—those that do extend coverage to the GPS system will do so only in a limited capacity; still leaving you with a bill for the damage.

Moral of the Story: Call Your Trusted Choice® independent insurance agent

Regardless of the level of dependence you invest, losing the ability to use your vehicle’s GPS system because it is damaged in an accident or stolen is frustrating and expensive. Calling your agent will help you discover how much coverage your current auto policy will offer towards replacing the damaged system. If your current auto policy does not offer any coverage, your agent can discuss with you how to close this gap.

Getting Married?

niagaranational — Thu, 05 Jan 2012 14:45:05 +0000

Getting married and embarking on a new life together is one of the most exciting experiences in two people’s lives. It’s a time of hope, promise, romance and … reality. Finding the person who will be by your side forever may have seemed like the hard part, but getting married also requires a lot of time, money, and careful consideration. Whether a couple is planning their wedding or deciding where to live, there are a lot of decisions to make before saying “I do,” especially when it comes to insurance.

Whether a walk down the aisle is in your future or you’re a newlywed, there are numerous insurance issues that come with being Mr. and Mrs. To keep them all straight, your Trusted Choice^® independent insurance agent has these helpful tips on how getting married impacts your insurance. No wedding planner or over-priced flowers required.

Auto insurance

• Most auto insurers view marriage as an indication of greater responsibility – especially for men younger than 25 – so most insurance companies offer lower premiums for married people. Many insurers also often offer special incentives to married couples, so make sure to contact your Trusted Choice independent insurance agent to determine whether matrimony will lower your rates or if you’re eligible for any special incentives.

• Getting hitched also means you can add your spouse and their car to your auto insurance policy (or vice versa), which will likely lower your rate. If your spouse happens to be a bad driver and/or you’re uncomfortable putting him/her on your policy, you can still reap the benefits of a multi-vehicle discount.

Make Sure Your Holiday Decorations are Safe to Use

niagaranational — Mon, 19 Dec 2011 14:20:45 +0000

Each year, holiday season fires in the United States claim the lives of more than 400 people, injure 2,600 more, and cause more than $990 million in damage. According to the United States Fire Administration, there are simple lifesaving steps you can take to ensure a safe and happy holiday. By following some of these precautionary tips, you can greatly reduce your chances of becoming a holiday fire casualty.

Christmas trees: When buying a live tree, make sure the needles are green. The needles should not break if the tree is freshly cut. If you bounce the tree on the ground and needles fall off, the tree is too dry and should not be used. When you put the tree up in your home, be sure to keep it away from heat sources. Don’t put it up too early, and don’t leave it up for more than 2 weeks. Always be sure that it has plenty of water. When you take the tree down, do not burn it in the fireplace. Recycle it or have it hauled away by a community pickup service.

Holiday lights: Before using your lights, inspect them for bare spots or frayed wires, and use only lights that a testing lab has approved. Be sure not to overload your circuits; the best way to do this is to avoid stringing together more than three strands of lights. And never leave your holiday lights unattended.

Holiday decorations: All such decorations should be flame resistant. Be sure to place them away from heat sources. You should not burn wrapping paper in your fireplace. Such a fire may throw off sparks or produce a chemical buildup that could cause an explosion.

Candles: Always place candles in steady holders where they can’t be easily knocked over, and do not go out of the house with candles burning. If you do use candles during the holidays, be sure to have a fire extinguisher nearby.

Smoke alarms: Each year at Christmas is an excellent time to change the batteries in your smoke alarm. If your smoke alarm is hardwired into the home’s electrical system, be sure that it is working.

Don’t Forget Your Carbon Monoxide Alarms

niagaranational — Fri, 18 Nov 2011 16:19:01 +0000

More than 400 people are killed each year in the United States from carbon monoxide poisoning, according to the Centers for Disease Control and Prevention (CDC). The American Medical Association reports that carbon monoxide poisoning is the leading cause of accidental poisoning deaths in the United States.

Other CDC studies indicate that more than 20,000 people are hospitalized each year from this gas, and these poisonings are on the rise due in part to economic reasons. With a stressed economy and high unemployment, more families face utility shutoffs. As a result, they employ other sources of heat, such as kerosene heaters, gas generators, and improperly maintained wood stoves and fireplaces. Such heat sources carry a heavy risk of carbon monoxide poisoning.

Carbon monoxide alarms are essential protective devices in homes with gas appliances, gas heaters, and fireplaces. Here are some tips to consider concerning these important alarms.

To ensure a high-quality alarm, look for the Underwriters Laboratories certificate on any detector you purchase.

Connect these alarms to the smoke alarm system so that any alarm in the house becomes activated if a problem arises.

Periodically test these devices according to the manufacturer’s instructions. Batteries should be replaced at least once per year. Replacement of the alarm itself is often necessary after a few years since the average life span of carbon monoxide alarms is relatively short.

Verify that you have alarms in bedrooms and other locations where people may sleep since people who are sleeping can die from carbon monoxide poisoning without experiencing any symptoms.

Don’t forget to change the batteries in your smoke detectors!!!
International Risk Management Institute, Inc

Brand Name vs. Generic Drugs

niagaranational — Fri, 30 Sep 2011 18:51:55 +0000

Q. My insurance company recommends I take generic drugs rather than brand-name drugs (when available). Can you tell me what the difference is?

A. Generally, a brand-name drug is marketed with a specific trade name by a pharmaceutical manufacturer. In most cases, the manufacturer has an exclusive patent protection for 17 years and is the sole source for the product. Once a patent expires, the generic drug can be made (with FDA approval), provided it has the same active ingredients and in the same dosage as the brand name drug. The FDA also requires all generic manufacturers to demonstrate that a generic drug will have the same medical effect, as its grand-name equivalent, by measuring the rate and extend of drug absorption.

Unlike the brand name drug, where research, development, marketing and advertising are all factored into the price; generic manufacturers spend considerably less on development and promotion. This is therefore reflected in lower costs for the insurance company and the member at the pharmacy.

As we all need to make an effort to contain healthcare costs, taking generic medications when possible is a good suggestion. At your next appointment, speak with your doctor to see if a generic is available and right for you.

Niagara National is committed to helping our community with its health insurance needs. Please contact us for assistance.

Candle Safety

niagaranational — Thu, 29 Sep 2011 17:10:36 +0000

Candles may be pretty to look at but they are a cause of home fires — and home fire deaths. Remember, a candle is an open flame, which means that it can easily ignite anything that can burn.

“CANDLE WITH CARE”

*Blow out all candles when you leave the room or go to bed. Avoid the use of candles in the bedroom and other areas where people may fall asleep.

*Keep candles at least 12 inches away from anything that can burn.

Think about using flameless candles in your home. They look and smell like real candles.

IF YOU DO BURN CANDLES, make sure that you…

* Use candle holders that are sturdy, and won’t tip over easily.

* Put candle holders on a sturdy, uncluttered surface.

* Light candles carefully. Keep your hair and any loose clothing away from the flame.

* Don’t burn a candle all the way down — put it out before it gets too close to the holder or container.

* Never use a candle if oxygen is used in the home.

* Have flashlights and battery-powered lighting ready to use during a power outage. Never use candles.

FACTS

• On average, a candle fire in the home is reported to a U.S. fire department every 30 minutes.
• Roughly one-third of home candle fires started in the bedroom.
• More than half of all candle fires start when things that can burn are too close to the candle.

What is Preventative Health Care and how does it affect our company’s bottom line?

niagaranational — Tue, 20 Sep 2011 15:51:08 +0000

Preventative health care. Wellness programs. Lifestyle coaching. All of these labels have
been used to describe a growing movement in the United States that focuses on helping
people live healthy lifestyles in order to avoid future illnesses. It includes a multitude of
health care services, including immunizations, checkups, diet and exercise. It requires
the effort of individuals, health care providers and even employers. It’s become one
of the hottest topics of discussion in health care benefits planning in recent years and
should start with benefit design and well thought out promotion. All of this information
can be a little confusing, and possibly even overwhelming. What is preventative health
care really all about, and how does it affect you?

To find out more about this important issue that affects all Americans and learn how best
to create a benefit plan that will help drive decreased claims, contact Lori A. McDermott,
Niagara National Insurance, 716-684-6000 or lmcdermott@niagaranational.com.

Reduce Your Exposure to Mold Losses

niagaranational — Fri, 16 Sep 2011 17:41:44 +0000

Mold can be defined as a growth of minute fungi forming on vegetable or animal matter, commonly as a downy or furry coating, and associated with decay or dampness. Growth of mold may begin with or become exacerbated by water damage that is inadequately repaired. Increasingly, airtight building construction (for purposes of improving energy efficiency) and the recirculation of contaminated air can contribute to the growth of mold as well.

Mold claim costs have increased dramatically over the years. According to the Insurance Information Institute, the typical mold claim costs between $15,000 and $30,000, compared to only $3,000 to $4,000 for an average homeowners claim. Part of this reason is the additional living expenses component of the claim. Frequently, a home owner must temporarily move out of the home due to necessary and major remediation work.

Active mold is fuzzy, velvety, or slimy, and is orange, green, black, brown, pink, or purple in color. If you suspect you have a mold problem in your home, here are some tips to consider.

Check the inside and outside of the dwelling for leaks and any visual evidence of contaminants since plumbing leaks are a primary cause of mold in homes. This task includes investigating the attic and basement to closely check for dampness and discoloration. It is important that the source of the leak be repaired as quickly as possible.
If there is a slight amount of mold, used a detergent solution to remove it. Wear a mask, safety goggles, and rubber gloves while performing this task.
For larger amounts of mold or resistant mold, contact a qualified specialist in the area of mold remediation.
For moderate or major damage to property, also contact your insurance agent.
To mold-proof your home, dehumidify your basement during the warm months. Eliminate standing water, and frequently clean and replace furnace filters.
Regularly check the condition of your roof and exterior finish for any places where water might enter your home.

If mold is suspected of causing an illness, consider the following recommendations.

Contacting an environmental consultant may be necessary. You should ascertain the credentials of this consultant and contact the references provided. In addition, it is wise to select a consultant who does not perform the actual remediation work or have an interest in a company that does.
If symptoms persist, a physician who specializes in occupational and environmental medicine (rather than a family practitioner) should be consulted. The specialist is often able to more easily isolate the cause.