Monthly Archives: May 2014
If you are doing large or small construction or renovation projects on commercial or residential properties, one type of insurance coverage you may need is builder’s risk coverage. This type of insurance policy offers coverage for building components like fixtures, machinery and equipment, building supplies, and other aspects of the construction project.
When considering the policy provisions of your builder’s risk coverage insurance, an important thing to take note of is what the policy does not cover, because those items may be things that you could be financially liable for out of your own pocket in the event of loss of some kind. Builder’s risk coverage may not include coverage for the land upon which the structure is sitting or is being built. Other things that may not be covered could be materials, equipment, and supplies that are in-transit, any signage that is not attached to the building, and theft of supplies and items from the job site.
If the policy does not cover specific things, you can often have additional coverage added to apply to those items if you deem it necessary. Find out more about builder’s risk insurance policies when you contact us at Schumacher Insurance Group today.
It’s time for summer fun in the sun and that means many of you will be getting your recreational vehicles and boats out of storage and getting them prepped for plenty of use this summer. If you do have a boat and will be spending time on the lakes and rivers near home or while you’re on vacation at distant outdoor recreation locations, make sure you keep several boat safety tips in mind so you have an enjoyable and safe adventure.
- Know what the weather will be like before you head out on the lake or river. You don’t want to get caught in the midst of a severe storm without any shelter nearby.
- Always make sure your boat is well-equipped with a variety of safety equipment, even if you never use it. By being prepared for any unexpected emergency with the right equipment, you’ll be ready to take care of any emergencies when they do arise.
- Never drink alcohol when operating a boat. Drunk driving can be done while on the water just as easily as it can on the road, and you should always ensure that you are alert and clear-headed when piloting your craft.
- Watch out for swimmers, skiiers, other watercraft, and floating debris. Some things can lurk just beneath the surface and others can be headed straight for you, so make sure you pay attention to the water around you and don’t pilot your boat at excess and unsafe speeds.
Buying insurance shouldn’t be a painful experience, and you can make it much easier when you avoid certain insurance buying mistakes that individuals tend to make when selecting an insurance policy for their auto, home, life, or health needs. Here are several insurance buying mistakes to watch out for when you are shopping for your insurance coverage:
- Not shopping around for the best policy options and the best rates.
- Not purchasing enough coverage to meet your needs.
- Not understanding all the terms and conditions, including coverage limits, of your chosen policy.
- Not obtaining discounts when they are available. These can include safe driver, multi-policy, and multi-vehicle discounts.
- Not reviewing and updating your coverage periodically. Your insurance coverage should be reviewed annually to be sure it is still meeting your needs and that you aren’t paying for coverage options you don’t need.
Another mistake people make is not choosing to work with an independent insurance agency when looking for coverage. Independent agencies like ours are able to offer you coverage from several major carriers, so you have a wider selection of options at your fingertips and more control over what coverage you are getting. Contact us today at Schumacher Insurance Group to find out more!
On May 17, our borough celebrated its Centennial celebration. With activities, parades, and several special events, the Woodland Park Borough anniversary celebration was an immense hit that spotlighted the very best of our community. Of course, Schumacher Insurance was there, providing a float in the parade with a superhero theme that people of all ages loved.
Our borough has much to be proud of. We played a big role in the American Revolution, observing British ships from the top of the mountain on Old Rifle Camp Road. Several decades of history later our borough was signed into existence in 1914. Schumacher Insurance is just as proud of our borough as you are, and our goal is to show that this feeling of community can extend to insurance as well. Since we know that insurance isn’t always the easiest thing to understand, we want to make it as simple for you as possible. We strive to educate every one of our customers and make the insurance process as painless and easy as possible.
We take our role in protecting our community seriously and it was an honor to participate in the Woodland Park Borough anniversary parade. While we may not have super powers or even wear capes, we take our job protecting you and your family seriously and, yes, enthusiastically too.
If you loved seeing us in the parade, you’ll love seeing us in person. Come on down and and have a chat with us, or contact us online— we’d love to meet you!
Summer is almost here and that means it is time to start planning vacations and road trips, so you and your family can enjoy some fun in the sun while the kids are out of the school and you can take some time off from work. Summer also means that there will be more vehicles on the highways and roadways with you, which means the chances are increased that you could be involved in an unfortunate fender bender.
While we certainly don’t expect to be involved in a motor vehicle accident, they can happen. If you are involved in a mishap on the road, keep these tips in mind when filling out your car accident report:
- Make sure the insurance information for the other driver is accurate by asking to see a copy of their coverage. Copy the policy number, owner address, and other pertinent information directly from the policy data.
- Avoid being too verbose regarding the potential cause of the accident. Stick to facts and keep your statements brief and to the point.
- Write down the make, model, and year of the other vehicle, and don’t forget to get the VIN number and license plate number.
As always, contact your insurance provider immediately. If you would like information on obtaining a motor vehicle insurance policy or you are considering switching carriers, contact us at Schumacher Insurance Group today and find out how we can help you get the coverage you need at rates you can afford.
If you are a business owner, you should know that it is important to keep costs low in today’s economic climate. Insurers determine commercial insurance rates based on risk involved in insuring your business. Detailed risk analysis of a business determines the coverage needed and ultimately the premium amount. Owners should utilize these five tips to keep commercial insurance rates down:
Bring your risk down: By following good market place practice, you will bring your business’s risk factor down and therefore lower your commercial rate. Ensure you have well planned health and safety rules in place and ensure there are constant audits of these. Ensure that all vehicles, equipment, wiring, flooring, and machinery are in proper working order and have documented proof of this.
Security: Increase security by way of installing burglar alarms, fire alarms, sprinkler systems, durable locks and CCTV cameras. These increased security measures will bring insurance down.
Record keeping: Keep documented proof of everything, especially inventory, debtors and creditors and keep a second set off-site with your insurer, accountant or lawyer.
Raise your deductible: This will bring commercial insurance rates down. Be wary when you go this route though. Ensure you have enough capital to cover any loss should one occur. Raising it too high can have a long-term negative impact.
Bulk together: Speak to a professional to put all the types of insurance you need under one policy. You will get the right advice based on the industry type and your exact needs. Far too often businesses are insured for the same thing under different policies.
Trampolines are a backyard institution, and you’ll be hard pressed to find any kid who doesn’t enjoy spending some time bouncing around on one. And while most of us have probably heard of some trampoline mishaps, the good news is that with some simple precautions, you shouldn’t have to stop the fun for a visit to the urgent care clinic. Here are some summer safety tips when it comes to your trampoline:
During the set up, choose a level location that is not on any sort of hill or incline. Double check to make sure there are no obstacles or large rocks in the area. Finally, follow the instructions carefully.
Before each use, check for any damage and make sure that no tree branches have grown over the trampoline that could accidentally be jumped into.
Before anyone uses the trampoline, make sure that they are wearing appropriate clothing that cannot be tripped over and that their pockets are empty. All children should have adult supervision, and children under the age of six should not be using a full-size trampoline. Lastly, pregnant women and people with medical conditions should check with their doctor before they use the trampoline.
During use, the most important thing is to never attempt any flips or jumps and never jump on to or off of the trampoline. Always keep your bouncing low and aim for the center of the trampoline.
With these summer safety tips, you and your kids will enjoy using your trampoline for years to come.
Homeowner’s insurance is something that every lender requires you to have when you buy a home. It also protects your valuable investment from catastrophic damage and allows for repairs that you simply wouldn’t be able to pay for out of pocket. However, figuring out how much home owner’s insurance you really need can be a little tricky. Use these tips from Schumacher Insurance Agency to calculate exactly how much you need to protect your valuable possessions and your home for damage.
- Take a look at different standard policies and see how much coverage they offer. For modest homes without tons of valuables in the house, you may have more than enough coverage with a simple minimum level. There’s no reason to pay for more than what you need.
- Consider the area that you live in. If you live in an area where there are natural disasters that can easily tear down your home – this is especially important if you live near the ocean or on a fault line, for example – you may want to look at extended coverage plans. These will help you get 125% of your home’s current market value if a catastrophe happens. However, this will raise your premium in most cases.
- Have an appraisal of what is inside your home. The items inside your home need to be covered by homeowners insurance – except in the case of particularly valuable pieces like antiques or art, which should be insured separately. However, a whole home full of furniture could easily leave you in serious debt if it all gets destroyed.
- Get an appraisal on your house every few years. Staying on top of your property value will help you reevaluate how much insurance you really need.
Contact Schumacher Insurance Agency for more information.