"Engle & Associates have been so helpful over the past years with all of my family’s insurance needs. You guys are so easy to get a hold of and are so punctual in getting things done. My family and I truly enjoy working with your staff and above all you make the insurance process very easy! Thank you!" - Katelyn Kaney, Cattaneo Brothers, San Luis Obispo
Workplace discrimination claims are at an all time high. In today’s sour economy, small business owners need to control expenses, but Employment Practices Liability Insurance is not the place to cut corners.
• The US Equal Employment Opportunity Commission (EEOC) reported that discrimination claims soared 15% in 2008 and workers were awarded $376 Million.
• 6 out of 10 employers have faced employee lawsuits within the last five years – That’s 60%!
• Businesses are more likely to suffer a financial loss from an employment practices related claim than from a fire.
Employment Practices Liability Insurance (EPLI) coverage provides protection for a company’s liability resulting from sexual harassment, wrongful termination, and discrimination against employees. In addition, EPLI is not just for employees, it provides protection against discrimination and harassment claims made by former employees, potential employees, customers, and guests. These claims scenarios are specifically excluded in a general liability policy, which is why all businesses with employees and/or customers should carry EPLI coverage.
Defense costs – most small businesses do not have the financial resources to retain legal counsel, let alone pay for a costly defense. Average defense cost for an employment practices lawsuit is $45,000. The average settlement is $40,000. Do you have $85,000 cash on hand right now?
Okay, so how much? – EPLI policies can be as low as $100/month for small businesses with decent HR practices. If your HR practices aren’t what they should be, your EPLI insurance company, can make recommendations to help you keep your insurance costs down.
The bottom line: If you’re reading this, I can almost guarantee that you know someone who has had an employment practices related incident with their business. In fact, you may have experienced an employment practices situation first hand – if you have, you’re in the majority. If you haven’t, avoid the mindset of “it will never happen to me.”
Coverages available or included in EPLI policies:
• Sexual harassment
• Wrongful Termination
• Discrimination
• Statute Violation
• Negligent Hiring
• Negligent Supervision • Negligent Promotion
• Negligent Retention
• Disabilities
• Breach of Contract
• Loss of Consortium
• Emotional Distress • Invasion of Privacy
• Wage and Hour Disputes
• Drug Testing
• Mental Anguish
• Libel
• Slander
For more information, please contact Jayne Engle-Allen, CLCS, at Engle & Associates Insurance Brokers 805-544-8929 or jayne@engleinsurance.com or visit our website for a CA Employment Practices Liability Insurance Quote.
If you use your car or truck in the regular operation of your business, you most likely need commercial auto insurance. Many business owners believe that their personal auto insurance is providing coverage for them while they use their vehicles for work. In some cases, such as realtors, and clergy members, this may be true. For most business owners, this is a costly misunderstanding. For example, did you know if you let an employee drive your personal auto, your insurance company may deny a claim?
Some examples of when you need commercial auto insurance
You deliver… anything (food, newspapers, materials, finished goods)
You carry passengers as part of your job, even if you don’t charge them (Garage or Automotive service ‘courtesy shuttle,’ preschool, senior care, hotel shuttle, etc.)
Your vehicle has permanently attached equipment used for your job (pest control, construction, farming, etc)
Your vehicle has signs/logos/etc
Your employees drive their own vehicles as part of their job, or to run errands for your business.
You or your employees rent vehicles for work purposes (i.e. business travel)
Sample of businesses we have helped with their commercial auto needs:
Landscapers insurance
Artisan and contractor insurance
Truckers – Local and Long Haul
Courier and delivery insurance
Restaurant and food service insurance
Farming and livestock insurance
Wholesale business insurance
Religious and nonprofit organization insurance
If you would like a quote on CA Commercial Auto Insurance, please fill in one of our online insurance quotes, or call our office at 805-544-8929.
A driver reported backing his Ford pickup into a fire hydrant in a commercial warehouse area with a large paved parking lot. The resulting damage and expenses included:
- Fire hydrant replacement, including cost of installation
- Damage to the parking lot caused by the sinkhole created by water escaping from the damaged hydrant. Did you know that a six inch water main connected to a fire hydrant can flow between 1000 and 1500 gallons of water per minute?!?
- Bill for hundreds of thousands of gallons of water.
Backing accident 2
- Creation of a large lake in the remaining parking lot, requiring special handling, pumping, and resulting in possible additional damage to structures.
- Cost of business interruption due to lack of access to parking lot until repairs are made.
- Extra security to block off damaged area to prevent other accidents.
Backing accident 3
ARE YOUR CURRENT INSURANCE LIMITS ENOUGH?
Accidents can cause a domino effect, resulting in unanticipated damages and expenses. Without adequate liability coverage, you could be putting your assets and future earnings at risk. An Umbrella Policy is an inexpensive option to better protect you from worst-case scenarios like the one above. The average personal umbrella policy costs less than a video rental or latte per week! Call my office for a FREE coverage checkup today! (805)781-6337 or toll free (877) 364-5380.
In all my years in this business, I’d say the one product that drives people nuts (especially guys): is life insurance. When people don’t have it, they squirm when the subject comes up. They know they should have it. Questions swirl around in their head like:
“How Much?”
“What Type?”
“When?”
“What if they find something on the medical exam?”
“…Pass the TV remote, I can’t think about this right now…”
On the other hand, when that policy is finally issued, that same guy who was squirming, suddenly feels relieved. He’s done “the right thing.”
Over-thinking the particulars of life insurance fuels our natural inclination to put off the important purchase. Here’s some advice: YES, do your research. Look into whole life, universal life, term life, etc. (I can help). But while you’re becoming an ‘expert,’ please don’t miss the forest for the trees. The bottom line is: Your family needs this protection. You protect your home in case it burns down, you protect your car in case it’s destroyed. If you are gone, your income is gone. Life insurance is income protection.
So, my two cents: something is always better than nothing. Apply for $250,000 of 20 year level term protection now. For most people, this will fit into the family budget. Even though it’s still not enough to protect most families, it’s certainly better than nothing. Underwriting and issuing this amount of life insurance is painless. And I have yet to read about the widow who gave the life insurance check back to the company: “Not thanks, my family doesn’t need this – give it to someone else more deserving.”
2 other quick points:
Life insurance can’t be taken away once you’ve got it, BUT you may not be able to afford it or even get any protection if you become ill before you apply (diabetes, heart disease, cancer, etc).
The world’s financial ‘flu’ infects the life insurance industry too. Rates and fees are rising. You can lock in your costs now with one of over 30 top-rated companies that we work with.
Want a quick quote NOW? Fill out my fast and easy quote form here, and I’ll have your quote in minutes. Remember, I never hard sell insurance. I’m here to help you make an informed decision.
The preliminary results of the Jesusita are in. Over 60% of the homes lost or damaged in the Jesusita Fire were underinsured. What does this mean? Well, let’s say you are standing in a pile of ashes and rubble that was once your living room, and your contractor is telling you that it’s going to cost $425,000 to rebuild your home. You look at your insurance policy, and the dwelling coverage limit is $200,000. That means, your insurance company is going to write you a check for $200,000, and you’ll need to come up with an additional $225,000 out of pocket. Think it won’t happen to you?
“When Dave Wilder and his wife, Lynn, surveyed the remains of their Running Springs house after it burned to the ground in a wildfire near Lake Arrowhead in October 2007, the thing that struck him most wasn’t the devastation, and it wasn’t the loss of everything they owned. Wilder said he bought his 1,758-square-foot house for $99,900 in 1984. It was originally insured by State Farm for about $90,000, or $51 per square foot.”
“Over the years, Wilder and his wife made improvements to the property, raising the insurance level to $202,000, or $115 per square foot.”
“’Each year, we always asked our agent if we had enough insurance, and he always assured us that we had good coverage,’ Wilder said.”
“But the $202,000 check he received after losing his house fell far short of the actual replacement cost. Wilder said estimates he received from contractors after the blaze were closer to $230 per square foot, or more than $400,000.”
SO, WHY ARE PEOPLE UNDERINSURED?
#1 – People don’t want higher rates
This relates somewhat to my last blog post – we all want to save money, but we know that cheap isn’t always the best. Here’s the truth, when I recommend an increase in coverage, it’s not because I think you have some extra money lying around, or that I’ve been eyeing a new set of golf clubs. It’s because I am confident that if your house burned down, the current policy wouldn’t cover you properly. In fact, I never recommend an increase in coverage without offering some ways to help offset the premium increase, like a higher deductible, or multi-policy credits. So if there is an increase in premium, am I cheering because I’m getting rich? Absolutely not. If a policy goes up $100.00/year, my organization will earn about ten bucks. That increase doesn’t even pay for the additional service required to conduct our annual reviews. So, as an insurance professional, if your agent wants to conduct an annual review, please, listen to him or her. They really are trying to help.
#2 –Your agent hasn’t ever contacted you to complete an updated coverage analysis
If this is true, FIRE YOUR AGENT. (If you don’t have an agent, that’s a whole other problem.) When I write an insurance policy, it is merely a snapshot of your risk profile. But life is not a still photograph, it’s more like a movie…well, really, more like an IMAX 3-D! My point is, if you’ve had the same insurance policy for more than 3 or 4 years, and haven’t made any changes or updates to it, you may be underinsured.
#3 – Unethical Insurance Agents want to make the sale
This is somewhat less common than most media outlets would want you to believe, but it does happen. Although I would never knowingly underinsure someone, there are agents out there who might not be as client focused as I am. They realize that people are shopping for price, and instead of educating their clients, they write bare minimum coverages to keep the rate low, and close the deal. This practice makes me ill, but it does exist. Here are the red flags to watch out for:
RED FLAGS –
The agent only asks for a copy of your current insurance and doesn’t ask you anything about your home.
The agent gives you just a price, without explaining any coverages or features.
The agent uses an ‘extended replacement cost’ as part of the coverage limit. (example: if the agent says that the coverage limit is enough because you actually have 150% of that limit – they are lying…if you want an explanation, email protection@engleinsurance.com or call me at 877-544-8929)
#4 – Title and Escrow companies are trying to diversify
If your insurance was written through your escrow closing by direct mail, and you have no idea who your agent is, it might be time to shop around. One of my employees just bought a house. She received an offer for insurance from a company that is affiliated with the title company who provided her escrow services. On the surface, it looked like a decent offer. However, after she completed our comprehensive coverage analysis, she realized a few things wrong with the offer. First, she found that the offer had a total coverage deficit of over $300,000 across all coverages in the policy. Then, in the fine print, there were exclusions for things like swimming pools, trampolines, and animal liability (which is included in most preferred policies, and protects you if your dog bites someone, knocks them over, etc). There were also several other coverages missing. The point is, on the surface it seemed like a great deal, but once she realized all of the coverage deficits, the offer was setting her family up for a financial disaster. The beautiful thing was that she ended up writing her policy, with one of our preferred companies, and it was over $200.00 less than the offer from the title company. You don’t have to sacrifice coverage to save money!
Underinsurance is a real problem. You may never need to file a claim, but if you’re paying for insurance anyway, doesn’t it make sense to have a policy that actually protects you? You don’t have to sacrifice coverage to save money. For more information, or for a free comprehensive coverage analysis, please call me toll free at 877-544-8929 or email me at protection@engleinsurance.com
If you knew, for a fact, that your home or business would burn to the ground tomorrow, would you buy the cheapest insurance policy you could find? Or would you want to be sure that you were getting the best possible coverage?
So, what I want to know, is when did cheapest, become the best? When did insurance become a commodity? It has always been something that is price sensitive, however it really all started with a certain Gecko, and grew from there… I’m a bit of a media junkie, and I can’t watch television, listen to the radio, or surf the web for more than 5 minutes without hearing or seeing an ad for what I like to refer to as “the big spenders.” They’re all telling me how much money they save their customers.
In 2007, These Big Spenders: Geico, Progressive, Allstate, and State Farm; collectively spent $1.5 Billion on advertising. Yes, that’s Billion, with a “B.” They spent $1.5 Billion to convince all of us that we should buy our insurance from the lowest bidder. In an era of Wal-Mart, Costco, and other discount and wholesale stores, we have all been brainwashed to believe that if we don’t get the cheapest price on something, that we’ve somehow shorted ourselves. Look at Flo in the progressive commercial – she’s selling insurance in a virtual big box store! I’m not saying that you shouldn’t shop around, but be sure you’re comparing apples to apples when it comes to your coverage. It doesn’t save you money if you’re paying a cheaper price, but sacrificing valuable coverage.
I see it time and time again. A potential client comes to me with their current insurance policy in hand. We review the coverage and undoubtedly find gaps, HUGE gaps in coverage. Just last week I was working on a homeowner’s policy where the client’s house was underinsured by $123,000. When I completed my comprehensive coverage analysis, we also found that she would greatly benefit from earthquake coverage. So when I ran the numbers, my quote turned out to be $142.00 more per year. For $142.00 more per year, she gets $123,000 more in coverage AND earthquake coverage. Here’s the kicker, we ended up increasing her deductible to offset this premium difference, and guess what… our annual premium was within $10.00 of their old policy, with MUCH better coverage.
With that said, I want to go back to my first question. If you knew, for a fact, that your home or business was going to burn down tomorrow, would you buy your policy from the lowest bidder? Or would you consult an insurance expert, to be sure you have the proper protection? My point is, most people have the attitude that ‘It’s never going to happen to me.’ Two years ago, one of my long time client’s home burned to the ground. He had plugged in his laptop to charge before he went to work. The laptop’s battery pack malfunctioned, overheated, and caused a fire. When he returned home, his home was nothing more than ashes and a few pieces of charred lumber. He told me, “I never thought I would actually use this insurance.” He received his check quickly, and without hassle, because over the years, we had recommended coverage increases, and policy changes to be sure he was adequately protected.
That’s exactly what an independent insurance professional does for you. It’s not about selling policies, it’s about building relationships, and providing ongoing protection counseling, not just at the time of sale. There are many of us out there who spend our days (and nights, and weekends) thinking about, reading about, and talking about insurance. Independent insurance professionals aren’t a ‘middle man,’ as some of the ‘big box’ insurance companies would want you to believe. We are educated, licensed, and experienced professionals who, instead of representing the interests of one, single insurance company, we represent the interests of our clients. The companies we represent, rarely advertise. Instead of advertising to the masses, our preferred companies provide us, the independent agents and brokers, with their premier insurance products. This allows us to work with our clients to create a custom insurance package; finding the best coverage, at the best price, for their unique situation. Not everyone fits into a cookie cutter policy.
If you would like a free protection review, please feel free to call my office toll free at 877-364-5380. Or send an email to Protection@EngleInsurance.com
Provide Tax Deffered Earnings (thus yeilding better return than CD’s)
Are NOT tied to the stock market
Do NOT have contribution limits
Can provide Lifetime income
With the current economic status not only in our nation, but worldwide, many people have found that their retirement accounts are falling short of their expectations. A fixed annuity is a conservative piece of your retirement planning.
To describe the benefits of a fixed annuity, you must first understand the difference between a speculative investment and guaranteed return. A speculative investment, like stocks and mutual funds, has the potential for both loss and gain. While a guaranteed return has only the possibility for gain.
A fixed annuity is a guaranteed return product. It’s very much like a CD (certificate of deposit), except your earnings are tax deferred, therefore, yielding more than most CD’s. On Average, people commit to an annuity investment for 5 to 10 year periods. An annuity can also provide lifetime income so you don’t outlive your retirement. Unlike other retirement programs, you aren’t penalized for living a long life. You may even choose a payout that benefits a spouse or other beneficiary.
Now, more than ever, building and holding onto your retirement savings is critical. With a fixed annuity, the money you invest will always be there when you need it. I like this product because I never have to make a phone call to tell my client that they’ve lost money. In the past two years, many of my clients have called to thank me for this conservative approach, when many of their friends have lost half of their retirement in the stock market. If you have money that you can invest for 5 years or more, this may be the way to go.
For more information on Fixed Annuities, please feel free to call my office at 805-544-8929 and speak with Scott Engle.
10 WAYS YOU CAN SAVE MONEY WITHOUT SACRIFICING COVERAGE…
So you’re shopping around for auto insurance. What do you need to know? Well, there are lots of ways – at least 10 – that you can save money. Many of these money-saving ideas may apply to you.
1. One Insurer, Multiple Policies – Do you have a homeowners or renters insurance policy? If so, is it with the same insurance company that provides your auto insurance? If the answer is no, you’re paying too much – for both policies. Almost every insurance company that sells auto insurance wants its policyholders to also buy homeowners or renters insurance from that company.
These insurers offer so-called multi-policy discounts. Usually, these discounts are at least 10% and some insurers apply the discounts to both the auto and the homeowners/renters policy.
* Tip. Talk to your agent about multi-policy discounts.
2. Good Driver, Good Price? – It’s no secret that the better your driving record, the less you will pay for auto insurance. But did you know that most people qualify as “good drivers” and are eligible for discounted premiums? Some good drivers pay a lot more than others, however.
Many auto insurers are actually a collection of several insurance companies in which each caters to a certain type of driver. The worst drivers go in one company, the best in another, and a lot of people wind up in one of the middle companies.
These middle people pay less than the worst drivers, but more than the best. The thing is, many of these middle people have driving records that are just as good as those who are insured by the companies that offer the lowest rates. Yet these middle people are paying more. Why? The usual reason is that they don’t know any better. No one told them which insurance company in the group had the best prices. And, probably, no one told them there was even a group of insurance companies. If you have a spotless driving record, there’s no reason you shouldn’t be paying the lowest price a group of insurance companies has to offer. * Tip. Make sure you’re getting the best discount for your driving record. Talk to your agent. And remember, be a safe driver. It will save you money.
3. The Beauty of the Bus (or Other Mass Transit) – Do you drive to and from work? If you do, you are literally paying a premium to do so. Insurance companies charge you significantly higher premiums if you drive to work. And, the longer your commute (in miles, not minutes), the higher the premium. * Tip. Some drivers should consider mass transit. Yes, there’s a price there, too. But you will reap the savings of gas and lower insurance costs.
4. Low Mileage, Low Price – On average, people drive 1,000 to 1,250 miles a month. That is what insurance companies consider average use. * Tip. If you drive less than the average, you could be eligible for low-mileage discounts, which some insurers offer.
5. High-Profile, High-Cost – The type of car you drive is a major factor in what you pay for insurance. Is your vehicle a magnet for thieves? Is it more expensive to repair than most cars? If the answer to either of the last two questions is yes, you’re paying more than the average car owner for insurance. * Note. To get detailed information on your vehicle(s) – or a vehicle you’re thinking of buying – write to the Insurance Institute for Highway Safety at 1005 North Glebe Rd., Arlington, VA 22201 and ask for the “Highway Loss Data Chart.”
6. Raise Your Deductible – The deductible is the amount you pay before insurance kicks in if you have a claim. For example, if you have a $250 deductible and you have an accident in which your car sustains $1,000 in damage, you pay the first $250 and your insurer pays the balance, $750. The lower the deductible you choose, the more you pay. If you have assets, you can probably afford to absorb at least $250 and probably $500 if you have a claim. * Tip. If it’s been years since you’ve had an accident, you may be better off raising your deductible and paying less each year for insurance.
7. Drop Unnecessary Coverages – Let’s say you have an older car, one not worth very much. There’s really little point in having collision and comprehensive coverages. You don’t have much to protect. Remember, too, that you have to subtract your deductible from any potential payout you might get. * Tip. As a general rule, any car worth less than $1,000 shouldn’t have collision and comprehensive coverage. Between the deductible and the extra expense of these coverages, the cost is probably greater than the benefit. How much is your car worth? An auto dealer can tell you, or there are plenty of books that have values of vehicles going back many, many years.
8. Discounts, Discounts, Discounts – Auto insurance companies offer several discounts for a variety of reasons. The car has automatic seat beats, air bags, anti-lock brakes, anti-theft devices, etc. The driver is a good student, which is especially valuable if you have teenage children who will be on your policy. * Tip. Make sure you are taking advantage of all the discounts available to you!
9. Taking the Defensive – Many insurance companies also offer discounts to those who have taken defensive driving courses recently.
10. Low-Cost and High-Cost Areas – Are you planning to move? If you are, you should take into account the cost of insurance. Generally, the more urban the area, the higher the premium. The costs can vary even within a community.
Whatever your driving record or coverage needs, you should shop around, or let an experienced insurance professional shop around, for the best deal for you. There are literally thousands and thousands of coverage options from hundreds and hundreds of insurance companies.
In addition, not only should you try to get the best deal you can, you also need to make sure you have all the coverage you want/need. Using an Independent Insurance Agent is usually your best bet to get the most value for your auto insurance dollar.
At Engle & Associates, we take a personal interest in our customers. We like to share information that helps you protect yourself and your family from financial loss. If you have any questions, regarding this information or your insurance coverage, please don’t hesitate to contact me.
