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After a really long winter, we are ALL ready for Spring, right?  OK…while we wait, let’s test our knowledge of insurance coverage!

I get carried away singing along to a Def Leppard song on the radio, I sneeze from the hyacinths in the back seat, I swat at a bumblebee in my car.  Losing control, I hit a telephone pole.  What coverage on my auto policy will pay for my car’s front end damage?

  • A) Comprehensive coverage
  • B) Collision coverage
  • C) The Rock ‘n Roll/Insect Rider

I host an  “I’m Pretending It’s Spring Because I’ll Die If It Snows One More Time” party.  As I hand out bunches of daffodils to my guests and release the flock of butterflies, I realize my dog has just bitten one of the peeps who are doing the Chicken Dance.  What part of my homeowner’s policy may respond?

  • A) Medical Payments Coverage
  • B) Personal Liability Coverage
  • C) Sinkhole Endorsement

Anxious that temperatures have finally broken 30 degrees, I am out walking for fun and fitness when I am plowed down by a city bus.  My fall broken by a hearty patch of daisies, I still decide to get checked at the local emergency room.  What policy will pay for my visit?

  • A) Homeowners Insurance Medical Payments
  • B) Health Insurance
  • C)  Auto Insurance First Party Medical Benefits Coverage

See, Spring brings its own set of challenges.

Answers:

1.  B, Collision Coverage.  Because you’ve collided with another object, collision coverage is what would respond to pay for your damages.  Be sure you’ve selected a comfortable deductible as that is the amount of the claim that would be your financial responsibility.  If you’ve wisely selected rental car reimbursement, your insurer will also be able to extend payment for a replacement vehicle while yours is being repaired.

2. A & B.   In this case, the actual medical bills could be paid by the Medical Payments Coverage portion of your policy as it happened at your home.  The Liability Coverage may also extend to cover “pain and suffering” from the event where your negligence in controlling the pet caused harm to another.

3. C.  Your auto insurance policy  is primary in regard to paying for injuries “sustained through the maintenance or use of a motor vehicle” and broadly extends for pedestrian injuries of this type. 

Hopefully Spring will arrive before my next quiz!

Why Life Insurance?

momkaren 006Whether we’re very young, or very old, we’re not going to be here forever.

We often think about whether our lives are the way we want them to be.  Are we having enough fun?  Are doing the things we said we’d do?  Are we making a difference in the lives of others? 

We only get one crack at this life.  We need to live it.  We also need to plan for those who will be around after we’re gone.  Have you?

If you don’t yet have a will, get one.  Don’t know who to call?  Ask me.  There are many reputable attorneys here in our Lehigh Valley.  It’s not expensive.   It IS necessary.

You’ve THOUGHT about life insurance, but it’s just one of those things that no one likes to act upon.  Somehow, if you actually call me for a proposal, it’ll actually make it real.  You’ll really die, right?   Either way, friend, you will die.  We all will.

By crafting a decent policy, you’ll sleep better.  You’ll know that you tied it up in a bow.  Once you do it, you don’t have to think about it again. 

We write small policies of $10,000.  We write jumbo ones in the millions of dollars range.  We have various payment plans.  We make only one promise.  We won’t push you into anything you don’t want or can’t afford.

Start the year right.  It’s January.  Make this the year you take care of the “little detail” that you’ve previously ignored.   And then, you’ll be able to say “it’s DONE!”

Complimentary conversations always available, 610-530-0304

 

businessownersAs you can tell, being a business owner requires us to wear MANY hats.  Thanks for being adorable, Rita Guthrie of Open Door Public Relations!

As you start out, you’ll find that you’ll end up doing many things yourself.  In the 15 years of Hosfeld Insurance, I’ve found myself doing everything from shoveling snow to scrubbing a toilet.  But there are several things I left to the professionals.  I urge you to do the same.  When you begin, and as you grow, you will value having a team of folks to help guide you.  Make sure you find a great accountant, lawyer and insurance agent.  If your business requires, you may also depend greatly on a computer guru, realtor, and lender.

Don’t even consider opening your door, or beginning to hand out business cards until you have secured the right insurance.  When you begin to do business, you have opened yourself up for risk.  Depending on the business, for as little as $250/year, you may be able to cover that exposure.

General liability insurance will be important so that if you are found legally liable for something, you’ll be protected.  You would not want to handle it from your own pocket, would you?  Even if you don’t have an actual “storefront” where people visit, you may be exposed by the cupcakes you sell, the products you make, the list goes on.

If you have a vehicle used for business, you may wish to consider a commercial auto policy. No big price difference from a personal auto policy, but it may expand coverage for the new exposures you have.

Property coverage may be an option if you have a building to insure or simply your business personal property.  If a loss occurs (fire, theft, hurricane, etc.) would you be financially able to go out and buy all new computers, desks, equipment, and stock?  For very low premium, these things can be covered!

You’ve grown to the point that you need help?  Be careful and cautious and know the legal implications of having an “employee”.  Be especially cognizant of the governmental definitions that clarify when someone is a true employee. Penalties for failure to carry the proper workers compensation insurance can be steep.

Did you know that life insurance should be part of your plan?  If you have a partner, it can be especially important.  Your spouse may not be able to afford a buyout of your portion of the business.  By using life insurance in this way, you can insure that they will be able to do this, leaving your partner free to run the business.  Many times, the surviving spouse would have no desire to be in the business.  This is a way to insure that everyone is placed in the best possible position after you’re gone.

There are many variables.  Every business is different.  Insurance agents can guide you down the path in an objective way.  Find one with whom you are comfortable sharing your concerns, fears and ideas.  Together, you will protect the dream you’ve created.

For a complimentary assessment of your business, please call us at 610-530-0304.  We would love to hear about what makes your dream uniquely yours.

Photo includes local  Lehigh Valley business owners:

  • Carlos Roman, Sting Operation Pest Control
  • Christine Rothdeutsch, AsNeeded.Biz
  • Rita Guthrie, Open Door Public Relations
  • Donna Hosfeld, Hosfeld Insurance, LLC/InsuranceChix.com
  • Ted Laskowski, 1st Patriot Realty/Inspired Home, LLC
  • Rayne Reitnauer, Cold Nose Lodge

bear2013Please be advised that we have CANCELLED our OPEN HOUSE participation in the 2013 Macungie Holiday.   As far as we are aware, the town events will still occur.  However, our office will be CLOSED due to weather concerns.

lifeinsurancebrochureWhen we meet folks who have not yet secured a life insurance program, we often hear the same reasons.

 

  1. We don’t understand it.  We DO!  Let us explain the different kinds of programs that exist.  This is what we DO.  This is what we LOVE.  Lean on us and we’ll do this together.
  2. We can’t afford it.   Surprise, surprise.  Historically, life insurance has NEVER been cheaper! Many companies have lowered their rates.  And, we have lots of different pay plans.  We’ll find one that works for you.  We’ll make sure the payments fit your budget.
  3. We don’t believe in it.  It’s not a religion.  It’s not a supernatural creature.  It’s a financial tool that protects the people you love after you’ve died.  Remember, dying is not an “if” situation. It’s a “when” situation.  You will.  Ignore it.  Deny it.  But it IS going to happen. And none of us know when.  You can’t stop it.  But you can offset the lost income, the debts, the financial burdens to your loved ones by making life insurance work for you.

One thing is certain.  Once you’ve secured the right product at the right price, you WILL sleep better. You’ll know that you did the right thing for those you love.  Don’t delay.  You’ll never be younger or healthier.

For a free copy of our life insurance Buyer’s Guide, call us at 610-530-0304 (Pennsylvania only)

 

 

Proud teenager girl to drive a carWhen it’s time for your teen to take the wheel, there are a few things you’ll want to do!

  • Tell us.  During the time your child has a permit, there is usually no increase in premium to your policy!
  • Feel free to schedule a time for your teen to visit our office.  We’re happy to be that “objective” voice who can help repeat some of the lessons you may have already given.  Sometimes hearing it from someone else makes a big difference.
  • Have many hours together in the car.  Even after the license is achieved, it’s important to observe the driving behaviors of your teen.
  • Set rules about who drives with your teen.  Statistics prove a greater incidence of severe and fatal accidents with each additional passenger in the car.  Passengers can be as deadly a distraction as a cell phone.  Conversation can be extremely distracting.
  • Explain that distractions are more than JUST cell phones.  Music, food, drink, and loose objects in the car can all prove a problem while the car is in motion.
  • Encourage locking the car EVERY time you leave it.  Returning to your parked car after a quick trip into the mall would be distressing if you found a stranger sitting inside it.
  • Encourage the gas tank to be at half or greater.  Accompany your teen to the gas station and teach him or her how to pump gas.   Share other basic maintenance tips with him or her.

Independence comes with driving.  Responsibility is huge.  If we can help with this transition time, let us know.  We’re here to be a resource and a partner with you at this pivotal time.

 

Lock it in, Baby!

ratelockPeople like stable things.

People like predictable insurance rates.

Surprises are only fun when they involve cake.

With ERIE Insurance Group’s new “Ratelock” program, clients can enjoy knowing what their renewal premium will be from year to year.  Available on Pennsylvania auto policies, “Ratelock” is a new option for providing a “locked” auto insurance rate.

Your rate will change with trigger events like a change in address, driver, or vehicle.  But other things won’t impact it!  Even an “at-fault” accident won’t increase your premium!

For more info on “Ratelock”, call us at 610-530-0304.  Who knew predictable could be so exciting?

 

 

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