Winter 2003 Newsletter

Renters Need Coverage Too	Keeping Your Independence in Retirement
Homeowners are not the only people who needs contents and liability coverage. Renters have belongings and future earnings as well to protect. Only about one third of all apartment dwellers have contents and liability coverage. Many believe that the landlord's policies will cover them also, which generally is not the case, and many don't realize that coverage is available and affordable. A standard tenants' policy can start at $100 a year. Take a moment to add up the items you own and think of the money needed to replace there in the event of a fire. Include your clothing, television and DVD player, furniture, small kitchen appliances, bicycles, etc. Would you be able to replace all these items when you were also having to put a first and last month's deposit down on a new place to live? In addition to the amount chosen to cover your contents, many tenants policies offer "Additional Living Expenses" coverage to help temporarily house you in the event that your apartment or rented home is uninhabitable due to a covered loss. "Building Additions and Alterations" coverage for improvements you paid for to your living space may also be added. How much do you have invested in where you live? In addition to regular personal items, many people have engagement rings, camera equipment, or other items of value that they wish to cover more broadly. A Scheduled Personal Property endorsement added to the tenants policy expands the coverage and removes the deductible for scheduled items. As an example, a lost diamond from an engagement ring is not covered unless the appraised ring was scheduled.	Having a policy in place also gives you some protection while your personal property is away from your residence. Certain limits apply, but this can ease your mind during a move or while on vacation. Perhaps a more costly and unexpected loss is a guest's medical expenses or resulting lawsuit should someone be injured while visiting your residence. Lawsuit settlements can attach your future earnings and leave you financially struggling for year to come. A tenants policy provides personal liability as well as property coverage. Many stand-alone policies and endorsements are available to tailor your coverage to your individual requirements. Account credits are available with some sompanies if your tenants and auto policies are with the same company. Can you afford not to be covered? Please call us so that we may better understand your needs and develop a plan to meet them.	How comfortable will you be in retirement? Even Baby Boomers who have saved will for their retirement years may find themselves financially dependent later on withour proper planning. Life spans have increased at a time when family structures have changed dramatically! Years ago when fewer women worked, many served as caregivers for elderly family members. Larger families living close by made it possible to assist with a relative's every day care. Combine today's seniors leading active lives into their 80's, often into their 90's, with families spread far and wide, and it is more important than ever to have your own plan in place for later in life. Who will care for you during those later years? An article in the Bangor Daily News this past summer stated the average cost in a nursing home in Maine was $72,800 a year or $199.45 a day! Medicaid qualifiers are at the mersy of the government and available beds may be miles from family and friends. Advances in medical technology and the availability of professional care make it possible for many people to remain in their own homes or assisted living facilities. While these costs may be less expensive they are also expected to skyrocket. Medicare is not designed to provide extended coverage for nursing homes, assisted living, or home health care. We represent several companies who specialize in Long Term Care Insurance.Because individual needs can differ dramatically, we will design a program to fit your particular concerns. Adequate funding for later care allows for greater independence and peace of mind. Call Sue McKay in our Life & Health Department to discuss your future security!
Flooded with Advice
After we are done enjoying a white Christmas, many of us are ready for the snow to go. Unfortunately where it goes is often into spring flood waters. While melting snow is not the only form of flooding, it is the one we think of most. The Federal Emergency Management Agency (FEMA) believes that flooding is the most commom natural disaster. The potential for catastropic losses is outstanding.	Flooding is excludedby homeowners and dwelling policies. The National Flood Insurance Program (NFIP), administrated by FEMA, provides subsidized rates making flood insurance more readily available to inhabitants in participationg communities. FEMA acknowledges that 25-30% of flood claims paid through this program involve property in low- to moderate-flood risk areas and encourages all home and business owners to investigate flood coverage. There is typically a 30 day waiting period once the application is completed and the downpayment made. Certain restrictions may apply. Don't wait until you are wading around your basement to find our more! Call us today for a Quote.	These newsletter articles are intended for general information only and do not represent individual policies. Remember: only your actual insurance policy can give the specific terms, coverage amounts, conditions and exclusions applicable to your situation; each insurance product varies slightly by company.
No Collision Coverage Can Put a Dent in Your Budget
Who hasn't spent those scary few seconds slipping and sliding on the icy winter roads? When your only concern is how to keep the car on the road or out of another motorist's path, few of us give much thought to how we'll pay for the resulting damage to our vehicle. Frequently one of the first cost cutting measures the owner of a paid-off vehicle makes is to remove collision coverage. While this step may initially save the policy holder money, it can require a sizable outlay of cash after a single vehicle accident or when the other party is uninsured.	Collision Coverage pays to repair damage to the covered vehicle, less the insured's chosen deductible, when the vehicle collides with another object. Snow banks can cause costly damage! Collision Coverage also provides neccessary help when fault is disputed in a multi-car accident.	Black ice can be tricky to avoid, but the not-so-hidden values of collision coverage can keep your wheels turning and your budget dent free. Please contact us to look into your coverage needs. Be sure to get the other driver's insurance information at the scene of the accident! Don't forget your home during the winter. Excess snow on your roof can cause water damage or roof collapse. We have roof rakes to lend out or you can hire someone to shovel the snow.

Renters Need Coverage Too

Keeping Your Independence
in Retirement

Homeowners are not the only people who needs contents and liability coverage. Renters have belongings and future earnings as well to protect. Only about one third of all apartment dwellers have contents and liability coverage. Many believe that the landlord's policies will cover them also, which generally is not the case, and many don't realize that coverage is available and affordable. A standard tenants' policy can start at $100 a year.

Take a moment to add up the items you own and think of the money needed to replace there in the event of a fire. Include your clothing, television and DVD player, furniture, small kitchen appliances, bicycles, etc. Would you be able to replace all these items when you were also having to put a first and last month's deposit down on a new place to live? In addition to the amount chosen to cover your contents, many tenants policies offer "Additional Living Expenses" coverage to help temporarily house you in the event that your apartment or rented home is uninhabitable due to a covered loss. "Building Additions and Alterations" coverage for improvements you paid for to your living space may also be added. How much do you have invested in where you live?

In addition to regular personal items, many people have engagement rings, camera equipment, or other items of value that they wish to cover more broadly. A Scheduled Personal Property endorsement added to the tenants policy expands the coverage and removes the deductible for scheduled items. As an example, a lost diamond from an engagement ring is not covered unless the appraised ring was scheduled.

Having a policy in place also gives you some protection while your personal property is away from your residence. Certain limits apply, but this can ease your mind during a move or while on vacation.

Perhaps a more costly and unexpected loss is a guest's medical expenses or resulting lawsuit should someone be injured while visiting your residence. Lawsuit settlements can attach your future earnings and leave you financially struggling for year to come. A tenants policy provides personal liability as well as property coverage.

Many stand-alone policies and endorsements are available to tailor your coverage to your individual requirements. Account credits are available with some sompanies if your tenants and auto policies are with the same company. Can you afford not to be covered?

Please call us so that we may better understand your needs and develop a plan to meet them.

How comfortable will you be in retirement? Even Baby Boomers who have saved will for their retirement years may find themselves financially dependent later on withour proper planning.

Life spans have increased at a time when family structures have changed dramatically! Years ago when fewer women worked, many served as caregivers for elderly family members. Larger families living close by made it possible to assist with a relative's every day care. Combine today's seniors leading active lives into their 80's, often into their 90's, with families spread far and wide, and it is more important than ever to have your own plan in place for later in life.

Who will care for you during those later years? An article in the Bangor Daily News this past summer stated the average cost in a nursing home in Maine was $72,800 a year or $199.45 a day! Medicaid qualifiers are at the mersy of the government and available beds may be miles from family and friends. Advances in medical technology and the availability of professional care make it possible for many people to remain in their own homes or assisted living facilities. While these costs may be less expensive they are also expected to skyrocket. Medicare is not designed to provide extended coverage for nursing homes, assisted living, or home health care.

We represent several companies who specialize in Long Term Care Insurance.Because individual needs can differ dramatically, we will design a program to fit your particular concerns. Adequate funding for later care allows for greater independence and peace of mind.

Call Sue McKay in our Life & Health Department to discuss your future security!

Flooded with Advice

After we are done enjoying a white Christmas, many of us are ready for the snow to go. Unfortunately where it goes is often into spring flood waters. While melting snow is not the only form of flooding, it is the one we think of most. The Federal Emergency Management Agency (FEMA) believes that flooding is the most commom natural disaster. The potential for catastropic losses is outstanding.
Flooded house

Flooding is excludedby homeowners and dwelling policies. The National Flood Insurance Program (NFIP), administrated by FEMA, provides subsidized rates making flood insurance more readily available to inhabitants in participationg communities. FEMA acknowledges that 25-30% of flood claims paid through this program involve property in low- to moderate-flood risk areas and encourages all home and business owners to investigate flood coverage.

There is typically a 30 day waiting period once the application is completed and the downpayment made. Certain restrictions may apply. Don't wait until you are wading around your basement to find our more! Call us today for a Quote.

These newsletter articles are intended for general information only and do not represent individual policies. Remember: only your actual insurance policy can give the specific terms, coverage amounts, conditions and exclusions applicable to your situation; each insurance product varies slightly by company.

No Collision Coverage Can Put a Dent in Your Budget

Who hasn't spent those scary few seconds slipping and sliding on the icy winter roads? When your only concern is how to keep the car on the road or out of another motorist's path, few of us give much thought to how we'll pay for the resulting damage to our vehicle.

Frequently one of the first cost cutting measures the owner of a paid-off vehicle makes is to remove collision coverage. While this step may initially save the policy holder money, it can require a sizable outlay of cash after a single vehicle accident or when the other party is uninsured.

Collision Coverage pays to repair damage to the covered vehicle, less the insured's chosen deductible, when the vehicle collides with another object. Snow banks can cause costly damage! Collision Coverage also provides neccessary help when fault is disputed in a multi-car accident.

winter dirving

Black ice can be tricky to avoid, but the not-so-hidden values of collision coverage can keep your wheels turning and your budget dent free. Please contact us to look into your coverage needs.

Be sure to get the other driver's insurance information at the scene of the accident!

Don't forget your home during the winter. Excess snow on your roof can cause water damage or roof collapse. We have roof rakes to lend out or you can hire someone to shovel the snow.

The Professional Page
COMMERCIAL CONNECTIONS with Dale B. Binan, AIS Bobtailing and Deadheading can result in a vehicle traveling with inadequate or no coverage. Many independent truckers today depend on the coverage supplies by the owner of the trailer and/or goods to be delivered for their liability coverage. As soon as the trailer is disconnected at the delivery site or the goods are unloaded, there is no longer coverage. The trucker must have a commercial auto policy in place with the Nontrucking Use endorsement attached. This endorsement covers the "gap" left when the trailerless or empty-trailered truck makes the return trip or when traveling between the trucker's residence and the trucking firm they are subcontracted with. We have competitive markets for trucking coverage to better serve your needs. Please give us a call.	Dale has been with our agency for 13 years. She has 24 yearsexperience in the Insurance Industry. She enjoys skiing, horseback riding, and gardening.
IN THE BALANCE... with Jeff McDonnell, CPCU Employers today are faced with many different federal, state, and local laws governing employer conduct and responsibility. The number of lawsuits are on the rise, approximately one out of ten federal court cases are employment law related. Defense and settlement cost continue to rise also, partially due to the average Equal Employment Opportunity Commission (EEOC) case lasting over a year. Under these conditions, it does not pay to be uninsured or underinsured. Employment Practices Liability Insurance (EPLI) can help protect you from potentially devastating financial losses. While there are steps you can take to help protect your business, even with the best employment policies and procedures established and the most thorough documentation recorded, there are no guarantees you won't be subject to a claim. That's when EPLI comes in...because even successfully defending a claim can be financially and emotionally draining. Call us today so that we may start the quoting process and get rid of some of the worry involved with being an employer.
LIFE & HEALTH TODAY POPs and Voluntary Benefits Help Employers Provide Customized Plans The cost of insurance continues to rise. We Know it and so do you! Many employers aren't able to offer the coverage they would like for their employees. Employers may decide to offer their employee medical insurance with a tax-advataged method of paying the employee's portion of the premium. POPs (Premium Only Plans) allow employees to pay their share of the premium on a pre-tax basis. Unlike more involved cafeteria plans, the tax reporting on these plans is minimal. Voluntary benefits allow employee to purchase coverage either on a group or indiviual basis through after-tax or pre-tax payroll deductions. For more information, contact Sue! Susan W. McKay, CLU, ChFC, LUTCF	Don't forget we offer personal lines policies: Homeowners and Tenants Auto Boat Snowmobile ATV Antique Auto Flood Umbrella Please remember that only the actual insurance policy can give specific terms, coverage amounts, conditions and exclusions.

Be sure to get the other driver's insurance information at the scene of the accident!

COMMERCIAL CONNECTIONS with Dale B. Binan, AIS

Dale has been with our agency for 13 years. She has 24 yearsexperience in the Insurance Industry. She enjoys skiing, horseback riding, and gardening.

IN THE BALANCE... with Jeff McDonnell, CPCU

LIFE & HEALTH TODAY

Susan W. McKay, CLU, ChFC, LUTCF

Please remember that only the actual insurance policy can give specific terms, coverage amounts, conditions and exclusions.

COMMERCIAL CONNECTIONS
with Dale B. Binan, AIS

Dale has been with our agency for 13 years.
She has 24 yearsexperience in the Insurance Industry.
She enjoys skiing, horseback riding, and gardening.

IN THE BALANCE...
with Jeff McDonnell, CPCU

Susan W. McKay,
CLU, ChFC, LUTCF