Homeowners that live near coastlines face possibly loss by hurricane. Hopefully, any affected person will own a homeowner insurance policy to help deal with the crisis. However they must be aware of their responsibilities under the insurance policy in order to take full advantage of any available coverage.

The main priority for a homeowner is to be sure that the amount of coverage is adequate in the event that the home has to be totally replaced. Also, the homeowner should keep their deductible in mind, seeking options to make sure that it is affordable. Insurers who operate in areas that experience hurricanes typically require deductibles at a high, flat amount (such as $2,000) or at a percentage of the policy’s insurance limit (anywhere from 2 to 5%).

Naturally, a homeowner should consider ways to minimize their possible loss and maximize their personal safety by:

• Making advance evacuation plans (including determining evacuation route, fueling car, preparing supplies, etc.)
• Being aware of the nearest, safe shelter
• Bring outdoor property inside the home (lawn equipment, toys, tools, etc.)
• Installing or building a proper “safe room”
• Cover/Secure all windows and doors
• Have a portable radio and stay turned to accurate source of weather broadcasts.
• Turn off (unplug) small appliances and turn refrigerators/freezers to their highest settings.
• If applicable, turn off fuel/oil tanks.
• Fill sinks and bathtubs with water.

Returning to a damaged/destroyed site is not when a hurricane victim will be at his or her best, but that is the time that certain obligations have to be met in order to make the most out of any insurance recovery.

It is important to do the following:

• At the earliest possible chance, contact your insurer with details about your loss
• If possible, be sure you have a way to visually record the loss details (camera, digital camera, video recorder, etc.)
• Take reasonable action to keep intact property protected from additional damage or loss
• Keep an accurate record of all expenses that are related to protecting your property as well as items related to temporary housing and meals

Though post-catastrophe times are chaotic and spirit-sapping, it is important to keep in contact with your agent and/or insurer from Anderson Insurance Associates. Take the time to be meticulous about filling out reports, documenting the value of your loss and cooperating with claims personnel.

When serious storms or hurricanes result in local or regional flooding, the impact on the car market may be felt nationally. Cars that may have been totaled because of serious water damage in one state may end up on the seller’s block in another state. However, there may be no mention that the vehicle was once waterlogged. A person looking at any used car must take steps to avoid buying a car that is nearly guaranteed to need serious repairs.

Flooded cars are often cleaned up by original owners or dishonest dealers and sold to auto auctioneers without information about the water damage. Such vehicles may face a laundry list of problems such as:

• bacteria infestation (due to damp, hidden areas)
• more rapid rusting and corrosion
• engine damage
• electrical system damage
• brake, brake pads damage
• operating parts contamination (with dirt and other particulate matter)

The fact that a car or truck has been flooded and cleaned or repaired should be shared with prospective buyers. Asking questions and doing a little detective work are necessary to protect against buying a flood-damaged vehicle in Charleston, South Carolina. First, ask the seller why the vehicle is available for sale. Sometimes it’s best to be blunt by asking whether the vehicle has ever been in an accident or suffered flood damage. Then take a close look at the car, looking for signs of water damage. If you write down the auto’s Vehicle Identification Number (VIN), you can use that information to find out the vehicle’s history. A number of Internet sites offer history report services. Insurance companies are also, voluntarily, reporting full information on cars for which they have paid total losses on due to water damage. Further, either you or a trusted mechanic can inspect the car for the following signs:

• A damp or musty odor in the car’s interior
• Existence of brittle wiring casing
• Debris beneath carpeting floor pads
• Water line marks or silt
• Rusting of any metal bolts, door hinges or other pieces in a car’s interior (including the car seat springs)
• Grass, dirt or debris on a car’s air filter
• Any pooling of water or signs of rust in the trunk, spare tire and/or car jack
• Evidence of moisture in gauges

Be certain to check that all electrical items such as lights, horn, radio/CDs, turn signals and headlights operate properly. Also be on the lookout for signs that a seller is hiding something, such as a used car that has had carpeting or upholstery replaced or a car that was recently painted. Other ways to protect yourself are to insist upon a warranty, refuse to buy any vehicle on an “as is” basis and to take the vehicle out for a test drive.

Remember, besides the cost of the used car, SUV, pick-up or van, you also face the costs of registering and insuring the vehicle. Make sure that the transaction isn’t spoiled by a watery surprise. Call an independent agent from Anderson Insurance Associates today to avoid flooded vehicles in Charleston, South Carolina, (843)-763-7525

You do not have to be a millionaire to have high value assets. Perhaps you own fine jewelry, a grand piano or a prized collection? Your keepsakes with high monetary value — family heirlooms and other personal belongings — are important to you.

Owning expensive things can be enjoyable for you and your family but also carries some risk. To protect what you own, it is necessary to understand what coverage your homeowners insurance offers for your high value property.

Standardhomeowners insurance often has limits on the amount of coverage available for valuable property. If you own things that would be expensive to replace, your homeowners insurance may not provide the full coverage you need to pay for costly replacement items. Limitations can apply to individual items and categories of items. When the value of a collection is high, additional high value assets insurance can be needed to adequately cover its worth.

How High Value Assets Insurance Can Benefit You

While standard homeowners insurance has limits on the amount of coverage available for individual personal items, your policy can be tailored to cover your high value property. High value assets insurance can protect your valuable personal property in ways that standard homeowners insurance cannot. Coverage for high value assets can be provided for all risks, including breakage and theft.

It is important to understand the full value of items and protect what you own. High value assets insurance can be used to provide full coverage for a wide range of items, including:

• Antiques
• Artwork
• Cameras
• Collections: stamps, coins, wine, figurines
• Electronics
• Fine jewelry, watches
• Firearms, guns
• Furs
• Golf equipment
• Memorabilia
• Musical instruments
• Silver, silverware

Many people own valuable property and are unaware of just how much it is worth. Maybe you did not even purchase your keepsakes; they were inherited or given to you. Even if you purchased a valuable item, its value can fluctuate over time. A credible appraiser can be helpful. Although some cost is involved with a formal appraisal, this can be money well spent for any serious collector.

Make an Inventory of Your Valuable Assets

A thorough and accurate assessment of your valuable property today can make handling a claim a much more efficient process should the need ever arise. First, compile a list of all of your valuable possessions. Make a detailed list of everything valuable you own, take photographs of the items and store the list somewhere outside of your home in a safe deposit box or at a friend or relative’s residence.

Record all valuable items as you go through your part of your house room to room, including the basement and garage. List the name of the item and a description as well as brand name if applicable, the date purchased and any appraisals. This same process can also be used to provide an overall home inventory for your regular homeowners insurance that includes more standard possessions.

Once you have completed your home inventory taking note of high value items, a yearly assessment can update changes in your possessions and their value. Updated information about your possessions can keep your high value asset coverage fitted to your changing needs.

Insurance Protection Brings Peace of Mind

High value assets insurance offers coverage when broader protection is required. It can be reassuring to know that your most valuable possessions have full coverage in the event of unexpected loss due to fire, theft or damage.

Learn More about How to Protect Your Valuable Property

Do not make assumptions about how your high value assets are insured. Contact Anderson Insurance Associates today to assess your high value asset risk and form a comprehensive insurance plan. Our greatest priority is to make sure that you have the right insurance coverage for all of your property. Call us in Charleston, South Carolina at (843)-763-7525.

Ready, Set, Summer!

Summer generally arrives with a huge surge in recreational activity. School ends and parents start searching for leisure and recreational activities for themselves and their children. The activities range from elaborate vacations or summer-long camps to simply buying play and sports equipment (or getting it out of storage) and renewing park and pool passes.

Summer Fun’s Dark Side

One thing to be aware of is that the simplest activities can go wrong. Using sports equipment such as tennis racquets, baseballs, baseball bats, Frisbees, lawn darts, or horseshoes has the potential to harm others. Danger accompanies the use of skateboards, bikes, mopeds, go-karts, and radio-controlled cars, helicopters and planes. A larger concern involves inviting friends over to use your driveway, play equipment or swimming pool. Potential liability comes from either you having fun at the expense of other persons or their property, or failing to take precautions that persons you’ve invited to your residence (or other places) are safe to enjoy themselves.

How to Preserve Your Fun

The easiest way to prepare for your summer liability is to ask yourself some questions:

1. What can I do to keep other persons safe from my activities?
2. Am I prepared to be responsible for people I hurt or property I damage?
3. How do I make my home and yard safe for fun-seeking visitors?
4. and, Am I keeping my guests to various events safe?

While accidents happen, many can be prevented by making sure that you and your children enjoy your activities responsibly. Operating bikes safely and in low traffic areas reduces the chance that others will be hurt. The proper use of games and equipment also make the likelihood of having someone injured more remote. In other words, it’s important that your family uses sports and game equipment safely and appropriately. Adult supervision is critical for potentially dangerous activities such as the use of motorized recreational equipment, trampolines, swimming pools (including small wading pools) and swimming in the ocean. It’s also important to make certain that guests you invite for camping or hiking trips are watched after carefully. In many instances, you are responsible for the safety of your guests when you invite them to enjoy outdoor activities, particularly boating or other activities involving water-related equipment.

Home Inspection

Another way to reduce the chance of others being hurt is to do an inspection of your home and yard. Do you have an adequate fence (with secure or self-locking gate) to protect young children from a pool when you’re not around? Is your playground equipment well-maintained and strong enough to support the weight of the children using it? Is your yard and driveway free of tripping hazards? Are dangerous items such as tools, chemicals and lawn equipment kept out of reach of children? If you can answer “no” to any of these questions, you’re inviting trouble.

Insurance Plays a Role

When accidents happen, they may be followed by medical expenses and, more seriously, lawsuits. You must be protected against such financial consequences. Don’t assume you have coverage, especially when an activity involves motorized or powered equipment. You may have to add coverage to your homeowner policy or even buy special coverage for mini-bikes, mopeds, boats, all-terrain vehicles, etc.

So make safety a part of getting ready for summer fun. It’s also smart to include a visit or call to your insurance professional from Anderson Insurance Associates to make sure you are liable for summer fun in Charleston, South Carolina.

For many Americans, especially those under 40, using a cell phone while driving seems perfectly normal. And when you consider that there are over 236 million cell-phone users, that’s a lot of them on the road. But is it safe? The numbers say no.

Studies by the National Highway Traffic Safety Administration (NHTSA) found that more than 25 percent of all police-reported vehicular accidents are caused by this practice. (And, of course, thousands of other accidents go unreported.) Car insurance companies are keenly aware of the hazards.

The problem? A local phone-using driver is a distracted driver in Charleston, SC. Though many maintain that “multi-tasking” has no effect on concentration, tests have repeatedly proven this false. According to University of a Utah study, for example, a young person on the phone, or a phone-distracted motorist, has about the same reaction speed as someone 70+ years old. Other research and highway law enforcement observation commonly compare drive-and-chat performance to drunk driving. Excessive slowness, inattentiveness to traffic conditions, and lane-to-lane weaving are all dead giveaways.

The consequences, too, are predictably similar. Phone-distracted motorists hit more potholes, miss more warning signs, and generally fail more often to process their surroundings than do alert, fully focused drivers. The problem is most serious when pedestrians are involved. By law, a car must yield the right of way to all pedestrians at all times, but when a driver’s attention is diverted, this rule is one of the first to be forgotten.

No Hands? No Difference!

Many local cell-phone users are convinced that hands-free devices remove the dangers of distracted driving in Charleston, SC. Not so. It is not the phone that causes mishaps, it’s the conversation itself. Just listening and processing information takes attention off the road. And if it’s something really important – a pivotal business discussion, bad news from home, or a heated argument – there’s likely to be little attention left for safe, sensible driving.

It is not surprising then that cell-phone calls are banned entirely from more than a dozen major nations, including Japan, Australia, Chile, Great Britain, and Spain.

Yet, Americans cling to their anything-goes attitude. Few states have outlawed cell phones completely, and of those that do, penalties are relatively light. In many places, a patrol car can pull over a driver for using a cell phone only if a more serious infraction is taking place, so the law is essentially meaningless.

What’s more, car makers are adding to the problem, installing voice-activated “intercom”-style phone systems as built-in equipment. These motorists may not have to worry about fumbling through pockets for a ringing phone, or dropping the phone in the middle of a conversation. But the distraction is still there, as long as someone’s on the line.

Tips for Trips

NHTSA studies project that cell phone use will cause about 1,000 fatalities and 240,000 accidents in the next year. What can the average cell-addicted driver do to minimize the risk? Independent insurance agents, like us at Anderson Insurance Asssociates, know the whole gamut of hazards and helps, offer the following suggestions:

• Never send, receive, or read text messages while at the wheel.
• Before starting your trip, put your phone within easy reach.
• Don’t let your conversation ramble. Keep it short and to the point.
• Load your phone’s “speed dial” memory with numbers you’ll need; avoid keying in as you drive.
• Don’t get into emotional conversations en route.
• If it’s night, if the weather’s bad, if you have kids in the car – turn the phone off until you can pull over and call safely.
• If possible, have a passenger make or take the call.

Many insurers give discounts for completing safe-driving classes that offer tips like these. See if you qualify! Call Anderson Insurance Associates in Charleston, SC (843) -763-7525 and we can review your insurance coverage together.

The information below comes from the Argo Group brochure titled, “Risk Management Individual Collectors,” and was originally a publication with a general summary of coverage of a title insurance policy by ARIS Title Insurance Corporation (ATPI). The following information comes from pages three through five of this particular brochure. Please see part one of this article

But my fine art has a good provenance.

Traditional provenance-related due diligence is a starting point for every collector. However, there are many wrong ideas about what a provenance investigation does and does not show from a risk management standpoint and how a provenance  is different from a legal title.

Provenance is the full history of the physical possession of a work from the date the artist created it to the current day. Legal title is the past and present full right, interest and ownership of the work, which may or may not overlap with physical possession of the art.

Since there is no standard mechanism in the art industry to record and track both sides of a sale-purchase transaction, every provenance carries the inherent risk of being inaccurate or incomplete including the provenance information stated in catalogues raisonnés and auction catalogues.

Provenance review initially arose in the art market to address connoisseurship and was not designed and does not manage transactional risk. It later evolved to address the risk of theft in the context of WWII NaziEra stolen art. The majority of the art industry’s legal title risks are unrelated to theft and ordinary burglaries.

Even under the best of circumstances, when it comes to managing the art industry title risks for fine art and collectibles, no provenance or chain of title is perfect.

Does my homeowner’s insurance policy not already cover the legal title risks of my art collection?

Only a licensed title insurance company may offer true title insurance. Recently, several property insurers have recognized the art title risk and collectors’ need for protection against the ownership risk by adding free-of-charge endorsements to their policies, which reimburse collectors for a small portion of the costs incurred in defending legal title to one’s fine art.

For a number of reasons, these floaters fall short of providing adequate protection. They provide minimal reimbursement dollars; the collector must incur the cost and then seek repayment; the value of the work is not covered when a work is surrendered; and generally there is no coverage if the insurer determines that the collector “should” or “could” have known about the title defect when the collector acquired the artwork.

These endorsements are part of annually-renewable homeowner policies. The collector must remain with the insurer in order for the endorsement to continue. The endorsements have not been tested, and they likely do not provide any protection if and when the homeowner consigns art, for instance, to a dealer for sale.

The nature of these fine art floaters reflects the fact that homeowner insurers do not actually underwrite legal title risks in the art world, and they cannot soundly insure against these risks. Title disputes in the art world are very complex. Underwriting the title risks for art and other important collectible assets requires unique expertise and defending against these risks is expensive and complicated.

Only a true title insurer actually underwrites and assumes legal title risks.

Please see Risk Management for Fine Arts Owners Part Three for more information on how to best insure your fine art and/or valuable collectibles.

Risk Management for Individuals

In today’s increasingly complex and quickly changing world of art, it is becoming more and more important to manage fine art and other expensive and valuable collectibles as an asset. This means that you, as the owner, must protect your art/other special collectibles, yourself and your family from financial loss and legal liability.

Risk Management in the Fine Arts World

Individual people, whether they are buyers, sellers, donators or recipients of fine art through inheritance or as a gift, must know If they own the fine art and/or other collectibles that they possess. Being aware of this knowledge is crucial when planning for the future and dealings with your art and other valuable objects.

Due to the special nature of the art world, “possession is [not] nine-tenths of the law” and does not specify that ownership is under the law. Defective titles are the greatest legal and financial risk in the art realm today, that is, the risk that you do not actually legally own the art or valuable collectibles that you posses.

Managing your art and collectible in the same manner you manage other investments is the best practice. Good faith and best belief, which help in due diligence and reputation standpoints, are not enough to protect yourself from a legal and financial standpoint in today’s art world.

Were You Among Those Who Thought There Was Only a Small Risk of Defective Title in the Art World?

The art market title risk is a high risk sometimes leading to severe financial losses, which crosses all genres and periods and affects all participants of the industry.

The reason for this is because often buyers and the advisers they may hire time after time cannot find out who is the owner of the art or collectible that has been offered up for sale. Historically this makes sense because the art market has always been secretive and kept information confidential, and the true owner is typically not the art dealer or gallery owner where the work is for sale. Since buyers frequently do not know the owner of the work, the buyers cannot begin to manage their risks as owners.

In the unusual case where the buyer is able to identify the current owner, this assuming that the art is not being sold from the artist’s studio, all the prior owners of the piece are not know as well, making it extremely difficult to manage the legal title risks.

For example, when the time comes to sell the piece, all of the buyers and any related intermediaries such as auction homes, galleries and dealers require sellers to promise in writing, to benefit the future owner that the seller has the clear legal title to the object that is for sale.

A lot of the time, the same legal title guarantee is imposed upon donors gifting art to museums and other entities. This is happening because the donees are conscious of the legal liability they face in the art market title risk along with the potential personal exposure of museum’s officers and trustees.

And since the sellers and donors do not have the facts to make these contractual guarantees with certainty, they unnecessarily enter into an open-ended financial and legal liability for themselves and their families.

This non-transparent nature of the art and collectibles market makes legal title risk not only for these fine art pieces but also for other valuable objects such as estate jewelry, rare stringed instruments, vintage automobiles and/or rare books and manuscripts.

For more information please readRisk Management for Fine Arts Owners Part Two.

Whatever business you’re in, making your workplace safer can save your company money, build employee morale and create a positive culture that increases your chances of success. Follow these easy steps to keep your workplace–and your employees–safe.

1. Review the OSHA standards for your industry. All businesses must follow these general standards, but certain industries have additional regulations. If you are not currently meeting your requirements, make implementation a priority.
2. Create a written safety manual for your company that incorporates OSHA standards. Include procedures for any potentially dangerous situations specific to your workplace. Remember to add a disaster management plan for events like fires or natural disasters. Be sure to give each employee a copy of the safety manual and require a signature to show they received it.
3. Develop a safety training program. A safety training program should cover basics like ergonomics, correct use of equipment, evacuation plans, basic first aid and how to correctly report a workplace injury. If you cannot host your own safety classes, send employees to a formal training course.
4. Create a safe environment. Stock first-aid kits and keep them in convenient areas. Check for clearly marked, easy-to-reach exits. Inspect safety equipment, such as ventilation systems and automatic shutoffs, on a regular basis so you know they work correctly.
5. Schedule a safety inspection with your workers’ compensation insurance carrier. Involving your employees in the inspection process will demonstrate that you care and want to ensure their safety.
6. Wander through your halls several times each month to ensure that employees are following safety procedures, and be sure to talk about why they are important. Address any unsafe practices immediately. If necessary, provide your employees with additional safety training.
7. Make safety rule mandatory. Identify potentially dangerous situations and work with employees to avoid them.
8. Create a regular schedule of breaks for employees and make sure they are taken. Employees need breaks to stay alert and follow safety guidelines.
9. Start a corporate wellness program to encourage healthful living among your employees. Healthier employees tend to have a reduced chance of injury.

At one time golf carts were seen pretty exclusively….on golf courses. Then, since golfing is part of the sports world, other sports saw their usefulness, so carts popped up along the sidelines of football fields and near baseball dugouts, shuttling players about. Today, many more people are aware of the non-sports usefulness of golf carts…..and that is becoming a problem.

Increasingly, more exceptions are being made to allow more people to use carts. At first they could be used on areas close to golf courses, then retirement communities made exceptions, then gated and other, larger property-owner communities allowed their use. Now, exceptions are being made for their limited, public street use in small towns, college communities and in other situations.

The increased use of golf carts means the increased number of golf cart accidents. Such incident are a particular concern since they may involve elderly drivers who may have impairments or slower reaction times. Further, golf carts are popular with very young, frequently unlicensed drivers who may lack care and experience in operating golf carts safely.

Pairing up golf carts with higher risk operators creates a high-risk situation. Consider several features of golf carts:

• Lightweight
• open vehicles without roll bars
• low clearance
• rigid frame construction
• capable of deceptive speed (some models can reach 25 mph)
• do not include seat belts

While carts are ideal for traveling along fairly level, soft-surface areas; their features and design make them quite hazardous for other uses. Some golf carts can move at higher speeds, but their low clearance and rigid structure make them prone to rollovers. While carts are relatively light, they still are easily heavy enough to cause serious, even fatal injury to persons trapped beneath them. It also makes a tremendous difference being in an accident on a grass surface as opposed to an asphalt, gravel, packed-dirt or cement road. Some accident statistics reveal that golf cart accidents often involve children who are hurt when flung from carts during turns.

Another issue with golf carts is that there is no consistent regulation regarding their use and safe operation. The real issue is awareness! Persons who own and use golf carts away from courses should be careful about how they operate such vehicles, who are allowed to drive and ride in them and what safety procedures must be used to minimize accidents. No matter how cute, easy-to-operate and economical they are, golf carts are motorized vehicles that can cause serious loss and injury……be careful!

Insurance agents are all pretty much the same, right? You get an insurance quote, you sign the paperwork and your home, condo, car or other vehicle is covered against future risk (if you pay the premiums on time).

In fact, there are real differences between independent insurance agents and other agents, and knowing the differences can have a real impact on your policy choices, insurance discounts you receive and ultimately on your insurance protection.

Independent Insurance Agents Shop Around for You

Large, nationally known insurance providers often employ the agents who sell their products. This means they only offer insurance plans marketed by their employer. That marketing can take the form of expensive advertising campaigns, which are paid for with your premium dollars.

Independent insurance agents, on the other hand, are small-business owners whose top priority is finding the right plan for clients, no matter which company it is from.
Independent agents have the flexibility to work with many insurance companies to help find clients the best coverage at the right price. This allows customers to compare and contrast a variety of plans to find the one that’s right for them.

Agents who are employed by large companies may be limited in their ability to offer the specific type of insurance protection best suited to their client’s exact needs. For
example, if the potential policyholder has had traffic citations or a DUI, some insurance companies will not do business with them. Some insurance companies are not willing to take on some types of risk, such as a swimming pool at your home.

Independent agents are not limited by one company’s limitations of risk or a customer’s driving record. They can shop a range of insurance providers for their clients to access the right policy at an affordable price.

Local Business Owner or Large National Company?

All insurance agents are not the same. Most independent insurance agents are small business owners or work at small independent agencies. They are, for the most part, members of the community in which you live.

When you call an independent insurance agent with a question or with a claim, you will not get a telephone team, which can be the case with an agent working for a large insurance provider. It can feel more personal, working with an independent. These agents give you their cell phone numbers and respond to your phone calls promptly. And customer service is a core component of what makes their business successful.

Seeing You through the Claims Process

If you do have an accident or need to file a claim for any reason, independent insurance agents will help you manage the claims process, from dealing with the insurance claim’s adjuster to dealing with the insurance company itself. For the most part, your agent is “high touch” when it comes to working with you as the client.

It is important to make informed decisions about your insurance. Getting quotes from a variety of insurance agents can ultimately help you obtain the coverage that is right for you, whether you are a small-business owner seeking liability coverage, or you are a new driver who has questions about comprehensive car insurance, or you are a homeowner seeking to upgrade your homeowners insurance policy, or you just have questions about your current insurance policies and whether you qualify for insurance discounts.

Learn More about Your Local Independent Insurance Agents

Get to know your independent insurance agent in Charleston, SC and find out what we can do for you. Please call Anderson Insurance Associates to talk to an agent who cares.