How to Properly Purchase a Disability Insurance Policy

Disability insurance isn’t something that everybody thinks about, and if you’re employed with any company, chances are you don’t really need it. However, if you are your own boss, run your own company or simply do freelance work – even in addition to your regular work – you may need disability insurance. That way you’ll be covered if you get hurt on the job or in your personal life and aren’t able to perform. Otherwise you may not be able to make ends meet, and that can be disastrous for you and your family. Use these tips to help you pick the right type of disability insurance.

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  • Check the definition of the word disability in your policy before you buy. Some policies allow you to collect based on what you do and what you really earn. Others only allow you to collect based on your experience and education levels, even if that isn’t commensurate with what you actually make or what you need to live your current lifestyle.
  • Make sure you get a policy that replaces an appropriate amount of your earnings. Ideally, you want a policy that will pay out between 60% and 70% of your taxable earnings. That way you won’t have to alter your spending too much.
  • Look at your policy to see how long you’ll get benefits. You want benefits until at least retirement age.
  • Find out if your plan allows for a cost-of-living increase. If you have to stay on disability for a while or receive long-term benefits, you need to make sure you’re covered. Rent and everything from groceries to gasoline prices tend to go up over time. You need to be covered when your monthly costs rise.

Contact Schumacher Insurance Agency to learn more about how to purchase the right disability insurance plan.

Check Out Our Cyber Liability Coverage

Given the extent to which businesses have become computerized, it should come as no surprise to learn that data breaches are a serious threat to the smooth and uninterrupted running of their operations. Fortunately, businesses can protect themselves using cyber liability coverage, which has become more and more essential in the Digital Age.

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In main, cyber liability coverage exists to cover damages sustained because of a data breach as well as the business’s legal liabilities incurred in the same event. For example, if a business needs outside assistance to restore its systems following a data breach, cyber liability coverage can help with that. Similarly, if a business has to compensate its clients for letting their personal information be stolen, cyber liability coverage can help with that as well.

However, cyber liability coverage can also include coverage for a number of other costs associated with data breaches, with common examples ranging from the cost of fines and penalties to the cost of credit monitoring and computer forensics. Some examples can even come with compensation for lost income as a result of business interruption. In the end, the exact coverages included in cyber liability coverage depend on the insurance company as well as the business’s chosen riders, which is much the same as other forms of insurance.

The reason that businesses should consider our cyber liability coverage is a simple one. With the computerization of businesses, data breaches have become capable of inflicting serious damage within an extremely short time frame, making even minor lapses in security a potentially expensive and time-consuming problem. Worse still, there is no such thing as a perfectly secure system, particularly because the constant rate of changes means that vulnerabilities are created and corrected all the time.

Please contact us if you are interested in learning more.

What’s in Your Basic Homeowner’s Insurance Policy?

If you own a house, you are sure to need homeowner’s insurance. While there are plenty of options for buying such policies, you may struggle to know if you are getting exactly what you need for proper protection.

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Let our firm help you break through all the hype and learn exactly what is needed for a good homeowner’s insurance policy. Then we can guide you in picking out just the right one for your unique situation.

According to the Insurance Information Institute, here are a few points that are covered by basic homeowner’s insurance policy.

Structure

This part of the policy covers repairing or rebuilding your house if it is damaged in a variety of disasters like fire, tornado and even hail. Homeowners policies do not cover flood damage. Additionally, your policy will most likely cover other structures that are not attached to your house like a tool shed or garage.

Personal Belongings

Homeowners policies also cover your belongings, both in the house and off the property. Since the dollar amount of what is covered is based on the amount of your policy, it is important to make sure you have enough covered to protect you if your belongs are stolen or damaged. We can help you figure out the most appropriate amount of coverage you need.

Liability Protection

Another facet of this kind of insurance is liability protection. Basically, it covers you against lawsuits from property damage or personal injury that either your or your family members cause. It even covers damage done by your pets.

Homeowner’s insurance is something usually not thought about until you need it. Yet, it plays an important role in protecting your family and your property. Contact us today to go over your current policy or to look into getting a new one.

Does Your Business Need Commerical Car Insurance?

Owning a business means that there are a lot of things to keep in mind. Insurance is extremely important for business owners, and there are plenty of different types of insurance out there. If you are curious about commercial car insurance, consider this information to see if your business requires this time of insurance.

Use These 3 Driving Tips to Get the Most Out of Your Vechicle

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Commercial car insurance is, essentially, car insurance for businesses that utilize vehicles in their work.

There are many differences between commercial car insurance and a standard driver’s insurance policy. This is mainly because a business has higher liability than an individual driver. A business must consider their employees, passengers, work gear and plenty more than a normal driver would have to. Commercial car insurance is important because it covers all of the aforementioned areas, helping businesses to stay covered in the event of any unfortunate incidents.

Commercial car insurance does not just cover big rigs and larger vehicles. In fact, most businesses use smaller vehicles that need commercial car insurance. Whether your business uses company cars, SUVs, or pickup trucks, you will benefit from having commercial car insurance. It also includes vehicles used for your business such as commercial vans, limos or taxis, flatbeds, leased vehicles and more.

Essentially, if your business uses any type of vehicle in other way for the purpose of business then you need commercial car insurance. How much insurance you need is highly dependent on the type of work you do and how often the business uses the vehicles. There are many ways to figure out how to cover your business with commercial car insurance, but the best way to learn your specific needs is by contacting an insurance agent for information.

To learn more about the right insurance policies for you and your business, contact us at Schumacher Insurance Group.

Make Your Home More Storm Resistant With These 5 DIY Ideas

Although insurance is a very sensible precaution against severe weather, there are other measure you can take to protect your home against storms. Even with the security of insurance it is far more convenience and less traumatic to have a home fortified against weather in the first place, so consider these five DIY ideas for improving your resilience against bad weather:

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  1. The roof is an easily damaged part of the home. Reinforcing it with roof sheathing, using ring-shank nails, can increase its durability immensely. A bigger project, shallow eaves give wind less to work against, again improving stability.
  2. Windows and doors impact-rated to withstand hurricanes are a sound investment and remove the need for shutters. If they are too expensive, shutters are still a good idea that add considerable durability if they are used with windows and doors which meet your local design pressure rating.
  3. Using fire-retardant materials for tiling on roofs and walls will help tremendously if a storm causes a fire to break out, whether locally or as a wildfire. Materials such as clay tiles, slate, and bricks are all good, offering direct protection against storms and secondary protection against fire.
  4. You may also benefit from paying attention to the garden. Vegetation can be a fire hazard, roots can create cracks that let water in, and debris can be an impact risk. Tidying up the garden and ensuring rotten tree branches are removed can help prevent these risks.
  5. Anchor objects such as fuel tanks, barbeques grills, and anything else which might not be easily moved indoors, to prevent them becoming missiles in high winds.

If you have questions about home or other kinds of insurance, please contact us at your convenience and we’ll answer as soon as possible.

5 Reasons You Might Need Travel Insurance for Summer Vacation

Summer vacation is a great time for all, with the chance to travel abroad, see new sights, taste new foods, and even explore the great wonders of the world, from the Great Wall of China to the Great Pyramid to Stonehenge. However it is extremely important that you make sure you get appropriate travel insurance, especially if you are going abroad.

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Here are some of the reasons that travel insurance is a particularly good idea:

  • Healthcare for accidents or sickness. Though few places would turn away someone in need, you would almost certainly rack up costs that you would be obliged to repay. Make sure you check policies regarding pre-existing conditions, and whether adventure or extreme sports (such as skydiving and mountain climbing) are covered.
  • Medical repatriation. In some circumstances you may need to be returned home via special means such as ambulance or even medically-equipped jet. These are tremendously expensive, so insurance is the only way many people could pay for it.
  • Cancellation or interruption of the trip. Should your trip need to be cancelled or cut short due to issues such as sickness, bereavement, or other reasons which are listed as acceptable.
  • Bankruptcy or other failure of airlines, hotels, etc.. Should your booked airline go bankrupt, or your hotel be shut down, or other similar events out of your control put you in a difficult situation. Insurance can ensure you can afford alternatives.
  • Lost, damaged, or stolen baggage. In the event that something happens to your baggage, insurance to allow you to replace it is really important, because you would need to get the replacements very quickly and that is much easier when confident in the knowledge that your insurance is supporting this.

If you have questions about travel insurance, please contact us for more information.

5 Things You Need to Know About Insuring Your Cell Phone

Insuring your cell phone can be a good idea. Smartphones are getting increasingly more expensive, and mishaps that damage their functioning are hard to avoid.

Things You Need to Know About Insuring Your Cell Phone

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If you’re wondering whether cell phone insurance is a worthwhile investment for you, consider the following:

  • What cell phone insurance covers- Cell phone insurance can cover all of the following: theft, loss, accidents, malfunctions. However, it’s important to read the fine print, because each policy differs.
  • Requirements of filing a claim- If you want to file a claim, you’ll generally have to go through several steps. For example, if your cell phone is stolen, you’ll probably have to file a police report. You also may need to bring your phone in to a specific location for inspection if you’re filing a claim due to a malfunction.
  • The deductible- Most cell phone insurance involves a deductible that you’ll have to pay when you file a claim. Shop around for the lowest deductible or your insurance might not be worthwhile.
  • Understand possible reasons for denial- Possible reasons for a claim denial with cell phone insurance include malfunctions prior coverage in a manufacturer’s warranty for a malfunction or denial because damage was caused by an owner’s attempts to modify the cell phone. It’s a good idea to review your warranty before purchasing insurance, and if you have a habit of tampering with your cell phones on your own it’s important to understand that any resulting damage probably won’t be covered.

If you’d like to learn more about the advantages of insuring your cell phone, contact Schumacher Insurance Agency for more information.

Paying Auto Insurance By the Mile vs. By the Month

Are you finding yourself stressed out over the amount you pay for auto insurance per month? It may be time to take a different approach and pay your auto insurance by the mile. This allows you save money by only paying for the miles you are using every month.

Young Driver Insurance

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  • If You Do Not Drive Often: You may find yourself paying $150 a month for insurance. If you do not drive as often as others, this can feel a bit unfair. Why pay a higher price for something you do not use often? When you pay by the mileage, you may find yourself paying four cents per mile, rather than 26 cents. You may pay more in July than June, but at least you will only be charged for the miles you use.
  • You Can Save Money: It is no secret that you are going to save money by paying per the mile, even if you find yourself driving often. Depending on how often you drive each month, you could find yourself paying $60 per month, instead of the usual $150 a month. It may vary per month, but you will not have to overpay for the months you are not driving often.
  • Respects Your Privacy: When you pay per the mile instead of the month, your insurance company will send you a sensor to attach to the diagnostic port of your car. This allows the company to track your mileage and charge you for the correct amount. The company is only looking to track your mileage, so you do not have to worry about your privacy being violated.

When you are ready to start paying your auto insurance by the mile, consider using Schumacher Insurance Agency.

You can get started on changing your auto insurance policy by contacting us today.

Find Out What’s Covered by Your Auto Insurance Company

Knowing what is covered by your auto insurance policies is important. You don’t want to wait until you’re involved in an accident to find out what coverage you have! If you’re not sure what coverage you have or need, take a look at the following options and then get in touch with your provider to make sure that your policy gives you adequate coverage.

Car Accident

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Bodily Injury Liability covers costs of injuries that you may cause to someone else, such as another driver, cyclist or pedestrian.

Personal Injury Protection covers costs of injuries sustained by yourself and passengers in your car in an accident.

Property Damage Liability covers costs of damage that you do to other people’s or state property, such as other cars, buildings, signposts and other pieces of property.

Collision Coverage covers costs of repairing your vehicle in case of a collision with another vehicle or structure. There is usually a deductible amount set in the policy as well as a premium. If you wish to keep your premium lower, you may want to set a high deductible.

Comprehensive Coverage covers costs in case of theft or damage that occurs to your car from issues other than collisions, such as hail, vandalism, hitting an animal, fire and other incidents. There is typically also a deductible set in this type of coverage.

Uninsured or Underinsured Motorist Coverage covers costs in case you are hit by a driver who is uninsured or underinsured, and cannot cover the costs of damage repair or injuries, or if you are hit by a hit-and-run driver. It can also cover you as a pedestrian.

Knowing what insurance you want and what your auto insurance policies cover is important for peace of mind. If you have any questions about your coverage, contact us for more information!

Keep These 5 Things in Mind Before You Rent a Car on Vacation

The ocean is calling your name, beckoning you to plunge into its salt water and achieve that once or twice a year condition known as vacation bliss. Before you rent a car to take you to the shore, keep a few things in mind.

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  • Before you begin the process of renting a car on vacation, contact your insurance company. Usually whatever coverage you have for your personal vehicle will cover the one you rent, as long as you are not using the rental car to conduct business.
  • Find out if your insurance company covers the cost for towing charges, loss of use, and administrative fees.
  • Place a call to your credit card company, and find out the type of coverage they will provide. If you are using them as your sole provider ask them to provide you with coverage information in writing. The insurance they provide is usually secondary to the coverage you receive you get from your personal insurance and the coverage provided by the car rental company.
  • It pays to get the best coverage possible. Be sure your rental vehicle is covered by liability insurance. If possible get personal accident insurance to cover medical bills and personal effects coverage to insure the items inside the car if they get stolen.
  • If you opt for the newer peer-to-peer car renting or car sharing companies when renting a car on vacation keep a few things in mind. While car sharing services do have coverage built into the fees, there is an accident fee you will have to pay if you are involved in an accident.You can waive this cost by paying an additional fee. If using a peer-to-peer car service, get the additional coverage that they offer.

Looking for insurance? Contact Schumacher Insurance Agency today to receive insurance with integrity.

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