Y ou’ve probably seen or read a great deal about the growing problem of identity theft. But how big of a problem is it? According to the Federal Trade Commission, more than 160,000 cases of identity fraud were reported in 2002. Here are some tips for minimizing the chances that you’ll become another identity theft statistic: •  Check your credit reports annually. •  Watch your credit cards and bank accounts for unusual activity. •  Never give out your Social Security number or reveal other unique identity information, in person or online, without making sure that proper safeguards are in place. One other protection worth considering is identity theft insurance. This coverage provides reimbursement to crime victims for the cost of restoring their identity and repairing credit reports. Insurance companies offer this coverage either as an endorsement to your homeowners insurance or as a stand- alone policy. The cost is reasonable (usually between $25 and $50 for $15,000 to $25,000 worth of coverage). To learn more about identity theft coverage, and how it might apply to your personal protection program, give us a call. Don’t Lose Your Good Name! Little Johnny comes waddling down the hallway in his birthday suit with a rubber ducky in tow. He says, “Daddy, there’s a lake in the bathroom.” You go straight to the source and find the newly-tiled bathroom floor under four inches of water. Downstairs, your wife is wondering why there’s water dripping on her head. After toweling up the mess, you get on the phone to file a water damage claim. Seems like a great idea, right? Wrong. According to an insurance industry trade report, insurers are responding to a few tough financial years by attempting to reduce the total number of claims. What does this mean for you? Filing a few relatively small claims might mean that your insurer will raise your rates or drop you completely when your policy comes up for renewal. Here are three ways to avoid that possibility: 1.  Figure out how much it will cost to repair the damage and pay any bill less than $1,000. 2.  Raise your deduct- ible to $1,000 to receive the benefit of a lower premium for soaking up the problem on your own. 3. Eliminate any add- on coverage that makes it easier to file small claims. For further guidance, give us a call; we’ll keep you dry. Soak Up that Bathtub Damage
David’s going to Mozambique. Sally already bought her plane ticket to Paris. Jonathan will be studying biology in Prague. Many college students go overseas to enjoy a more colorful and dynamic academic experience. Unfortunately, most are plagued by an unnecessary risk: According to the Forum on Education Abroad, of the more than 160,000 undergraduate students who go overseas every year, many lack proper health insurance coverage. Surely, you don’t want anything to spoil your child’s once- in-a-lifetime college trip. In addition to buying travel insurance, here are some travel safety recommendations for the student studying abroad: • Educate yourself about the country that you’re visiting at www.state.gov. More specifically, review the Consular Information Sheet, which provides travel guidance and conditions. • To learn what health conditions you’ll be facing, go to www.cdc.gov. • Pinpoint the location of the nearest U.S. embassy. • Make sure that your health insurance covers you while abroad, including emergency medical and 24-hour assistance. • Obtain a passport and necessary visas by applying early. • Make two sets of photocopies of your passport, itinerary, airline ticket, traveler’s checks, insurance papers, and credit cards. Keep one set separated from the originals and leave the other with family or friends. At the end of the day, your safest bet is to contact us first; we’ll make sure that your child has the proper coverage. Safety Tips for the Student Studying Abroad A fter carefully wheeling your pristine 1993 Toyota Camry into your garage one crisp fall day, you park and then pat the dashboard and whisper, “I really take care of you.” In fact, not only do you wash her weekly, you even pay about $1,000 annually for collision and comprehensive auto insurance. You wonder, “When is it safe to drop back to liability?” A trade report recommends that you consider eliminating your collision and comprehensive coverage when your car is worth less than 10 times your annual premium. But the real question is whether you can afford to repair or replace the car — without collision coverage — if an accident occurs. For many of us, that high repair bill would send our budget reeling. Where’s the middle ground? For starters, you could raise your deductible to $1,000. In a sense, that will reduce your premium and provide financial protection as well. You might also reduce or drop your coverage completely, track the money you save on your premium, and use it as a special fund to help pay for costs arising from uninsured damage in the future. For a review of your current auto coverage, give us a call. Cut Back on Your Auto Insurance Remember the fires that devastated Southern California last year, causing a potential $1 billion financial loss? Lesson learned: Know what your insurance policy covers before a natural disaster strikes. Follow these safety guidelines for homeowners from a recent insurance trade report: • Review your policy annually and let your agent know if you’ve made any major purchases or home alterations. If your property value increases, so should your coverage. • Keep a copy of your policy number and home inventory in a safe, off-site location, such as your office or a relative’s house. • If disaster damages your home, make sure that the contractors working on your house are legitimate and not scammers. Check out their references before giving them a deposit. For a review of your policy, contact us. We’ll be glad to help. Disaster Preparation for the Home
COPYRIGHT ©2004.   This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is understood that the publishers are not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert advice is required, the services of a competent professional should be sought. If a burglar trying to break into your home has to work in the light, take a longer time than desired, or just can’t seem to gain access without making a racket, he’ll probably mumble to himself, “Darn, that wasn’t an easy mark,” just before slipping back into his beat-up conversion van. Research from the Insurance Information Institute shows that if it takes more than four or five minutes to break into a home, the burglar will go elsewhere. One warning: When improving the security of your home, don’t exchange security for personal safety by making your home such a fortress that you’re unable to escape in the case of a fire or other emergency. Here are a few tips on how to protect your home from burglars: • Take the time to “case” your house or apartment, just as a burglar would. Where is the easiest entry? How can you make it more burglar-resistant? •  Trim trees and shrubs near doors and windows, and think carefully before installing a high, wooden fence around your back yard. Although high fences and shrubbery can add to your privacy, privacy is also a burglar’s asset. Consider trading a little extra privacy for some added security. • Force any would-be burglar to confront a real enemy — light. Exterior lights and motion detectors mounted out of easy reach can reduce the darkness a burglar finds comforting. •   Simple security devices — nails, screws, padlocks, door and window locks, grates, bars and bolts — can increase the amount of time it takes to break into your home. •   Invest in a burglar alarm. The most effective ones also ring at an outside service. “Monitored” alarms also work wonders. •   If any of your valuables — paintings, a silver collection, or a computer — are easy to see from outside, rearranging your furnishings might be advisable if it makes your home less inviting to criminals. As an added incentive, most insurance companies offer 2% to 15% discounts for devices that offer better home protection. Contact our office to see how much you can save. Is Your Dwelling an ‘Easy Mark’ for Burglars? D id you know that if you’re the unlucky victim of a hit-and-run accident, you’re responsible for all the expenses? Many insured drivers lack the coverage necessary to handle the costs of being the victim in such a crash. That’s why insurers and consumer groups have joined forces in a public information campaign — "Wiser Drivers Wise Up" — to help motorists become better prepared for any type of motor vehicle accident. Unfortunately, the likelihood of such a mishap is increasing. According to the National Highway Traffic Safety Administration, between 1998 and 2002 there was a 15% increase in hit-and-run accidents in the U.S. And, 11 out of every 100 traffic accidents are hit-and-runs. For more information and tips on what you should do if you’re the victim of a hit-and-run, check www.wiserdrivers.com. For a review of your auto policy coverage and specific information about your coverage in the event of a hit- and-run crash, call us. We’d be glad to help. Be a Wise Driver

         

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