As some of you know, my family and I went through a total loss house fire in 2003. That was a TREMENDOUS learning event for me from an insurance standpoint. As a result of that, at least once a year I try to remind as many people as I can to take steps that will help reduce the trauma if you are ever in the same situation.
One of my big reminders revolves around knowing "what you have" in your home. There are several ways to do that. One of the easiest is to walk around your home with a video camera and record everything. Open doors, drawers, etc. and record what is behind or in it. Record every room in your home and your garage. Then make several copies of the recording. Distribute those copies to family or friends or put a copy in your safety deposit box at the bank. I recommend doing this at least once a year, but at least get that first copy out of your home. More recent purchases or additions will most likely be easier to remember than items that you have had many years. While this method will not help you come up with replacement cost for the items, it will help you come up with your inventory list. After you have the list, THEN it is a matter of determining replacement cost. Our family every so often says something like "I know I had one of those, I wonder where it is--oh yeah, the fire!"
Another method of recording your belongings is to go to http://www.whatyouown.org/ and download their free software. This will most likely take a lot more time NOW, but should you ever be in that situation, you will have a much more comprehensive listing of your personal belongings and an inventory that you can give to your insurance company. I just found this software so I have not used it yet, but the only question that I have and can't find an answer to is how do they handle the data you input? I would like to see a way to store this information online. If you do have a fire and your computer gets burned up, your data is gone. Online storage would eliminate that problem. CNET has a very good review of this product on the what you own website. Be sure to check it out!
Right now the most important thing you can do is SOMETHING! Ideally you will do the video AND have the home inventory software with all of your information in it. Your insurance company can only pay your claim if they know what you had. Having the information available BEFORE the loss will make it much easier and quicker to get your claim paid in a timely matter. Take my word for it, making that inventory list is no fun AFTER the fact.
Thursday, April 29, 2010
New traffic law that everyone should know.
New Traffic Law 2010 GOOD THING TO KNOW:
New Law: If a patrol car is pulled over to the side of the road, you have to change to the next lane (away from the stopped vehicle) or slow down by 20 mph. Every state except Hawaii and Maryland and the D.C. has this law. In California , the "Move-over" law became operative on January 1, 2010. http://www.
A friend's son got a ticket for this recently. A police car (turned out it was 2 police cars) was on the side of the road giving a ticket to someone else. He slowed down to pass but did not move into the other lane. The second police car immediately pulled him over and gave him a ticket. He had never heard of the law. It is a fairly new law that states if any emergency vehicle is on the side of the road, if you are able, you are to move into the far lane.
The cost of the ticket was $754, with 3 points on your license and a mandatory court appearance. Please let everyone you know that drives about this new law. It is true (see details at the following web address). http://www.snopes.
States in blue are "move over" law states.
Friday, April 23, 2010
Flood Insurance & COBRA Extended
Flood Insurance & COBRA ExtendedBig "I" Submits Congressional Testimony on National Flood Insurance Program
A few weeks ago, the Senate left town for the Easter recess without voting on extending the NFIP, thereby resulting in the program's expiration. The House had previously approved, by unanimous consent, a $9 billion measure containing one-month extensions of several programs including unemployment insurance, COBRA subsidies for health benefits and flood insurance. Senate leaders of both parties hoped to have their chamber approve the same bill before the Easter break, but Sens. Tom Coburn (R-Okla.) and Jim Bunning (R-Ky.) objected to the House bill saying it was not funded. A similar scenario occurred in early March.
On April 15th, both the House and Senate passed the "Extensions" bill to extend the flood insurance program, COBRA benefit subsidies, unemployment insurance extension, and other programs through May. The flood insurance program and COBRA benefit subsidies were extended until May 31, 2010 and the unemployment benefits was extended until June 2, 2010. The retroactive were signed by the President and are now law.
"It is alarming that the NFIP was allowed to expire, causing so much confusion and potentially leaving desperate homeowners and small businesses unprotected for more than two weeks," says Robert Rusbuldt, Big "I" president and CEO. "The Big 'I' is greatly concerned that these short expiration periods, coupled with the uncertainty of temporary extensions, will negatively impact the market."
In theory, the NFIP will now return to normal operations and, since the extension is also retroactive, then any new policy applications or renewals that were signed and submitted during the hiatus will be effective from the date of application (or in the case of waiting periods, the waiting period will start from the date of application).
"This series of temporary extensions, last minute actions and service lapses during such a delicate period in our economy is of great concern to our agents, homeowners and small businesses," says Charles Symington, Big "I" senior vice president of government affairs. "Though we are grateful that Congress extended this program, we are increasingly frustrated by these repeated one-month extensions and the periods of expiration that sometimes result from them. The National Flood Insurance Program is meant to provide some level of stability and protection for homeowners and businesses against dangerously unpredictable and costly flooding events, not to be an unpredictable 'here one minute-gone the next' program subject to monthly congressional action. The Big 'I' strongly urges Congress to pass a long term extension of this critical program."
In the 110th Congress, the Flood Insurance Reform and Modernization (FIRM) Act of 2007 made progress in the House and Senate. The legislation would have extended the program for five years and made significant and needed reforms to help put the program on sound financial footing. This summer, similar legislation was introduced in the House of Representatives.
Wednesday, the Big “I” submitted official testimony to the U.S. House of Representatives Committee on Financial Services Subcommittee on Housing and Community Opportunity hearing titled, “Legislative Proposals to Reform the National Flood Insurance Program.”
The Big “I” supports draft legislation, called the Flood Insurance Reform Priorities Act of 2010, by Subcommittee on Housing and Community Opportunity Chairwoman Maxine Waters (D-Calif.) and Ranking Member Shelley Moore Capito (R-W.V.) which would extend the program for five years and provide necessary reforms. In yesterday’s testimony, the Big “I” praised the bill in general saying, “Though IIABA has some recommended improvements to the draft legislation, the underlying long term extension is vital to provide stability and security to consumers.”
In addition to a long term extension, the Big “I” also called for the draft flood insurance legislation to be amended before Financial Services Committee consideration to modernize the NFIP by including optional business interruption and optional additional living expenses coverages on an actuarial basis.
The association noted that NFIP has been a successful program for consumers for more than 40 years; however it is time to modernize some aspects of the program for the 21st century. Allowing consumers the option to purchase business interruption insurance and additional living expenses, as can be done in the private market for other perils, will make the program more attractive to consumers and more actuarially sound.
The Flood Insurance Reform Priorities Act of 2010 is scheduled to be considered by the House Financial Services Committee next week
Tuesday, April 20, 2010
Agriculture Livestock Information Network (A.L.I.N.) theft awareness program
Below is a cut and paste from an information page sent to me upon my registration with the Sedgwick County Sheriff's Office (Kansas) in it's A.L.I.N. program -- Agriculture Livestock Information Network. Please take a look and register if you see the benefit. I know in our area in West Central Illinois theft is a huge problem and agricultural theft seems to be a tough nut to crack. I had suggested in my email to Deputy Travis Clinesmith that this program needs to be made nationwide somehow. Please email me back if you know of any other programs that ARE nationwide.
The Sedgwick County Sheriff’s Office would like to invite you to participate in the Agriculture Livestock Information Network (A.L.I.N). The objective of this program is to efficiently get information regarding stolen farm equipment, construction equipment, livestock, and suspicious activities distributed across Sedgwick and the surrounding counties through an email distribution system. Currently there are over 180 participants across 26 counties in Kansas and it is actively growing.
Once you have been put on the distribution list you will be able to receive emails from A.L.I.N. Anyone can send information toalin@sedgwick.gov but will not receive email notifications until registered.
This program does not take the place of 911. If there is situation that requires law enforcement response call 911. If you have a piece of equipment or livestock stolen or if there is a suspicious character in your area call 911. The next step will then be to email alin@sedgwick.gov. Please be sure to send a detailed email describing what was taken; color, brand, year, identifying marks and other descriptive information. If you are reporting a suspicious character, describe all individuals involved, any vehicle information and what the suspects were doing that caught your attention.
If you are an agricultural producer, rancher, farmers’s cooperative, implement dealer, construction contractor, or any other related field and would like to register for the program or have questions contact the Sedgwick County Sheriff’s Office Community Policing Unit at (316)522-2610 or email alin@sedgwick.gov attention Deputy Travis Clinesmith. Include your name, address, occupation, and the email address you would like to register. There is also a text alert feature that is optional. If you would like to receive text alerts include your cellular number and provider.
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