Archives

Monthly Archive for: ‘October, 2013’

Happy Pumpkin Day! October 26th

Happy Pumpkin Day TMIBPerhaps no other item is more emblematic of autumn in the US as the venerable pumpkin. Originally grown across North America, the pumpkin is now harvested on every continent except Antarctica. Below, Tegner-Miller Insurance Brokers provides some tips on pumpkin activities you can enjoy this fall season. 

  • Visit a pumpkin patch- Relating back to the ancient Irish tradition of carving turnips on All Saint’s Day, jack-o-lanterns are the most prominent icon of Halloween. Why not skip the market this year and take your kids to a traditional pumpkin patch? Other than the ability to pick your pumpkin right out of the field, pumpkin patches offer petting zoos, hay mazes and all sorts of harvest-themed activities.
  • Make your own pumpkin pie- Perhaps the most delicious of pumpkin’s many uses, pumpkin pies are readily available at any market or store. But have you ever tried concocting your own out of a fresh pumpkin? Recipes abound online for this relatively easy to make dessert. A word of warning: do NOT use a regular jack-o-lantern pumpkin for your pie. Instead, buy a “pie pumpkin.”
  • Make a “no knives” jack-o-lantern- Want your child to make a jack-o-lantern, but are concerned about your toddler wielding a knife? If so, you can make awesome jack-o-lanterns using just washable markers. These jack-o-lanterns won’t shine with a candle in them, but they do have the added bonus of being “erasable” in case your child makes a mistake.

 TMIB wishes you fun filled pumpkin day!

 

Water Damage

Water DamageWhile you might think that a majority of home insurance claims are the result of fires, water damage is actually the most common cause for claims. In fact, around 65% of all property damage is caused by broken pipes, hoses, and malfunctioning plumbing fixtures. Additionally, the most common cause of water-related property damage is broken or malfunctioning washing machine hoses. Tegner-Miller Insurance Brokers recommends that you review the following tips for preventing water damage at your home.

  •  Develop a plan for checking your washing machine hoses. You should generally check or replace your hoses at least every 5 years. But how do you remember when to replace it? One tip is to replace your hoses every leap year.
  • Try to turn off your water when the washer is not in use. Water puts pressure on the hoses, increasing the likelihood of a break.
  • Place water pans under your washers/hoses. Even a small leak can cause major damage over time. Water pans can reduce the likelihood of long-term water damage.
  • Purchase high-quality hoses for your washers. Shop around to find washing machine hoses with the longest guarantee and best consumer reviews. Some hoses are guaranteed to function for up to 20 years. Be cautious about metal-braided hoses. While these are advertised as “burst proof”, a crimp in the hose can cause the sharp metal sides to puncture the rubber interior.

 Make sure that your home insurance policy is up-to-date and includes coverage for water damage.   Speak with your knowledgeable broker at TMIB about water damage on your home insurance policy.  Feel free to call us at 310-828-9662.

What is Contents Replacement Cost Coverage?

Personal Property InsuranceWhen you have an insurance claim related to your home or personal belongings you will want to replace your destroyed valuables as completely as possible. However, your homeowner’s insurance policy will usually only cover the actual cash value (ACV) of the items destroyed.

 For example, if you have a 5-year-old TV, your insurance policy will factor the television’s depreciation into the payout, leaving you with not enough money to replace the destroyed item with a comparable new one. However, if your policy includes the contents replacement coverage endorsement, the insurance company will give you the amount needed to replace the TV with a new comparable replacement.

 Contents replacement cost coverage can be purchased as an endorsement on your homeowner’s policy.

 Be sure to speak with your knowledgeable broker at Tegner-Miller Insurance Brokers to make sure your policy includes this valuable coverage.  We can be reached at 310-828-9662.

Did YOU Know? What is Loss of Use on my homeowners policy?

What is “Loss of Use” and “Additional Living Expenses” on my Homeowner’s Insurance policy?

While we might not experience nature’s fury as frequently as other parts of the country, Southern California does occasionally have to contend with some pretty hellacious natural disasters. From wildfires to mudslides to earthquakes, crises can be unpredictable, forcing you to flee your home and seek shelter for an unknown period of time.did you know color arrows website

 How will you pay for a hotel room if you are evacuated? How will you afford a rental dwelling if your home is damaged during the disaster?

 This is where “Loss of Use” or “Additional Living Expenses” (ALE) comes into play. This provision in your homeowner’s insurance policy can help you cope with the cost of living away from your home after a disaster or accident. This coverage typically pays for “extra” expenses incurred as a result of a covered insurance claim.  Importantly, ALE only covers reasonable expenses that help you maintain your current standard of living.

 Insurance policies vary greatly.  There can be a set dollar amount with a set amount of time for this coverage or an unlimited amount and/or unlimited timeframe for coverage.

 Most earthquake policies include loss of use and typically have very specific limits available. In some cases you can decide how much coverage you want (up to a certain limit).

 Most homeowner’s insurance policies include some amount of Loss of Use or ALE, but determining the proper amount can be tricky.  Speak to your knowledgeable broker at Tegner-Miller Insurance Brokers. We can help you pick the right home insurance policy for your needs.  Please call us at (310) 828-9662.