More Reasons to Choose Travelers Insurance

There are 3 big reasons we simply love Travelers.

1. They have tremendous financial stability and are rated “A+ Best” by A.M. Best.
2. They have innovative coverages that help to meet each individuals needs.
3. They have superior claims service to assist in getting your damage repaired fairly and efficiently.

Travelers continually strives to offer more, and better products for their customers. They have introduced several options this summer that make Travlers even more attractive.

• Raised account discounts up to 20% on your auto and 30% on your home for combining your home and auto policies. Don’t forget, Travelers offers extended multi-policy discounts for; valuable items policies, umbrellas and boats.
• Lowered the first installment to a single month down if you set-up automatic deductions from your checking account or credit card. Plus you will save $5 monthly on billing charges!

Don’t forget the great commercials Travelers is becoming well known for. If you haven’t had a chance to check them out view them here.

Can I transfer a Travelers home policy I wrote through Geico to you?

Yes! Geico does not write a homeowners policy so they are basically agents with Travelers. By writing a  Travelers home policy through Geico you miss out on one of the great things about Travelers… Multi-policy discounts! Travelers offers one of the best multi-policy discounts in the industry, up to 30%.

Since your auto is with Geico and home with Travelers you are missing out on that discount. Doesn’t saving 30% off of your home policy sound like a great idea? In addition you don’t even need to rewrite the policy. We can complete an “Agent of Record” change and simply appoint Crosby and Crosby as your new agent on the account. It is one page and takes less that a minute to complete. 30% in 1 minute? I think that is a better slogan.

Plus, we think it is pretty great to have a local agent you can trust to handle your account. We are a little better looking than a cave man and simply smarter than a gecko. But hey, we like cute commercials too!

Give us a call today 661-327-5531 or email us and we can talk more.

Got an insurance question? We would love to answer it here. Let us know. agent@crosbyandcrosby.com

“Good Will and Confidence” – Thats What He Said

Selecting your insurance agent and company is a little different than smelling a tasty melon at the market or trying on another pair of shoes. So what ultimately do you hinge your decision on? Insurance is something you can’t smell, can’t look at in the mirror and ultimately comes in a rather large envelope with similar sounding terms and conditions.

Are all insurance companies the same? Is insurance just a commodity where the lowest price is the winner?

H.K. Dent, the founder of Safeco Insurance, said, “Insurance produces nothing, it replaces. We have nothing to sell except goodwill and confidence”.

So rather than producing a tasty melon that you can enjoy or a pair of shoes that look and fit great- we produce “goodwill and confidence”.

The good will and confidence; that assures you that you are getting the best value for your insurance, that lets you know a friend will be sitting on the other side of the desk when you need us and that our experience will help you to make the best decision, choosing your insurance.

Ultimately insurance is not equal. We have built our careers and our business on providing great insurance and a tremendous value to our customers. Our customers can feel, “the good will and confidence” we have been producing since 1963.

Is Your Home in a High-Risk Fire or Brush Area? Some Tips on How to Insure it

Many homeowners are finding that their current insurance company is not offering renewals because their home is located in a fire or brush area. New home buyers in those areas are finding that getting adequate coverage can be tough.

Companies are using more underwriting information to better access potential risks. Your home location is listed in an “ISO Public Protection Class”. This rating measures the fire departments ability to suppress a fire at your home. Ratings are listed from 1-10. A rating of 1 is listed as “superior” and a 10 would not meet ISO’s minimum rating. Companies may also use other tools to identify homes in high risk areas.

No matter how severe the fire area, there are options to get the proper coverage to meet your needs.

What an insurance company will consider…

• distant from the responding fire station (less than 5 is good, over 10 is higher risk)
• distance to fire hydrants or water storage tanks
• clearance from brush
• home construction type and roof type
• wildfire history in the area

Specific Area Concerns

Slight Fire and Brush Areas (Outer Areas of Tehachapi, Bear Valley, Hart Flat near Highway 58)

If you own a home in these areas, many companies may not be willing to write coverage for you. There are plenty of companies available including preferred companies like Travelers Insurance. Travelers offers a “tiered” program for homes in brush areas starting with “Eligible” being no brush risk to “Eligible 3″ being the highest brush risk they are willing to consider.

The benefit of a company like Travelers considering higher risk homes is that you can still qualify for a multi-policy discount and get a great value on your insurance.

Properties that are ineligible for Travelers tiered policy can still be placed with companies such as Foremost, American Reliable or American Modern.

Things that are considered are;  road access, slope and elevation of the property, possible smoke drift from a large forest fire, construction type and roof type.

High Fire and Brush Risk (upper Bear Valley, unprotected areas of Tehachapi, areas of Hart Flat, Shaver Lake, Alta Sierra)

If your home is classified as being in a severe fire area and other companies are unwilling to write a policy for you, you should consider the California Fair Plan. The Fair Plan is a syndicate of all property insurers licensed to do business in California and was established in 1968. The California Fair Plan is intended to be the “insurer of last resort” for hard to place policies.

 The California Fair Plan has major gaps in coverage that make it unsuitable for most needs without a “wrap-around” policy. A “wrap-around” policy helps to fill coverage gaps such as liability coverage, loss of use coverage and extended perils such as theft or burglary.

“Wrap-around” policies are offered by many major carriers and may qualify you for a multi-policy discount. A Fair Plan policy with a “Wrap-around” may offer you an economical policy to help insure your home in a high-risk area.

Need more info?

If you have specific questions about your homes wildfire or brush risk, we would be glad to talk with you. You can call us at 661-327-5531, email us at agent@crosbyandcrosby.com or stop by 111 “H” Street in Bakersfield.

How do I insure my guns or firearm collection?

Your normal homeowners policy includes limited coverage for firearms. Your coverage is limited to “named perils” such as fire and theft and losses caused by theft are usually further limited to a lower dollar amount. Many policies limit coverage for theft of firearms to only $1500.

Getting more coverage…

There are 3 options on getting more coverage for your firearms:

1. Scheduling each specific firearm: you can schedule each specific firearm for an agreed value to be paid in the case of a loss. I.E. you schedule your Browning Citori Featherlight for $2500 in value. Your Citori is now covered against “all risk” for $2500. Losses are not subject to a deductible.
2. Blanket coverage: in our opinion the best way to cover a firearms collection is a blanket limit. If your total collection is worth $5000 you can blanket the coverage to cover each individual firearm and the entire collection up to $5000. Losses are not subject to a deductible.
3. Write your home policy in an enhanced program. By taking an enhanced home policy you can have higher coverage limits in the policy. Kemper “Elite” covers firearms up to $5000 on an “All Risk” basis. Travelers “Platinum” covers firearms up to $3500 and Travelers “Platinum High Value” covers firearms up to $6000. Losses are subject to your homeowners deductible.

How much?

To schedule or blanket firearms the cost varies by county but prices start at $18 per $1000 in coverage. A $5000 policy would cost as low as $90.

What if I don’t want to list my firearms and serial numbers?

By using a blanket limit you can cover your whole collection without listing each firearm. You collection and each item will be covered for a single limit. It is always good to use a inventory sheet like this available at California Rifle and Pistol Association.

What about scopes, binoculars and other shooting gear?

We can blanket cover your optics and other shooting gear with both Kemper and Travelers Insurance. DO NOT be like our insured who turned a canyon corner and his Swarovski binoculars flew off the dash and out the window.

We are always able to help you answer any questions on your coverage. Remember each company is different so our blog should be considered general insurance information.

We can always be reached at agent@crosbyandcrosby.com, 661-327-5531 or an office visit at 111 “H” Street.

New mobile phone applications from Travelers Insurance

Try out these new mobile applications  to help you start your auto claim with Travelers Insurance.

They are available for iPhone, Blackberry and mobile web for any cell phone.

Try out the new applications here.

Set-up automatic deductions with Travelers Insurance

Check out our video post on setting up automatic deductions with Travelers Insurance. You can use the same information to change account information and billing date.

Should I have a personal umbrella insurance policy?

An umbrella policy or personal catastrophe policy protects you and your assets against large liability claims. It protects you if your regular (underlying) liability limits on your auto and home policy are not sufficient to cover an individual loss.

Personal Umbrella policies are written for amounts between $1 million and $10 million.

What does it cost?

Umbrella rates depend on how many vehicles, homes, recreational vehicles and other specific risks that you need to cover. A policy that covers a home and 2 vehicles will cost around $150.

New Discounts Make Umbrellas a “No-Brainer”

Both Travelers and Safeco now offer extended multi-policy discounts for writing an umbrella policy. You can save 5% with Travelers on your home and auto and Safeco now offers a 10% discount on your auto.

With the savings including an umbrella now would cost you less than $5/month in most cases and on some accounts may actually save your money!!!

What limits?

You need to consider among other things:

• Net worth – including real estate equity- assets such as vehicles, boats and toys- savings and retirement accounts etc.
• Future Earnings- Your future earnings need to be considered. If you were to have a judgement for liability over your policy limits your wages could be garnished.

Speaking with an insurance professional is advised. We have a 5-minute insurance review that can help you to decide the proper liability limits you should be carrying.

Underlying Limit Requirement

With an umbrella you are required to carry a minimum underlying liability limit on your home, auto, motorcycles and recreational vehicles. For the best rates you need to carry $500,000 of underlying liability.

If you would like to complete a free 5-minute insurance review give us a call 661-327-5531, email us at agent@crosbyandcrosby.com or if you are in Bakersfield stop by for an old-fashioned office visit at 111 “H” Street.

Census Daily Feature on Travelers Insurance

FRIDAY, FEBRUARY 5: CAR INSURANCE

Profile America — Friday, February 5th. Car insurance is both required and a major item in the budget of most households. The idea of insuring cars against accidents began this month in 1898 when the Traveler’s Insurance Company issued a policy to Dr. Truman Martin of Buffalo.  His policy cost $12.25 and gave him $5,000 in coverage.  Martin was chiefly concerned about accidents between his automobile — one of fewer than 4,000 in the entire country at the time — and horses, which numbered about 18 million.  Now, cars and trucks outnumber horses more than 247 million to just over 9 million. The average car costs its owner $817 a year to insure. You can find these and more facts about America from the U.S. Census Bureau, conducting the 2010 Census beginning April 1st.

Sources: www.history.com

              Historical Statistics of the United States: Colonial Times to 1970, p. 520, 716, 1208  

              Statistical Abstract of the United States 2010, t. 1186, 1060

Profile America is produced by the Public Information Office of the U.S. Census  Bureau. These daily features are available as produced segments, ready to air, on a monthly CD or on the Internet at http://www.census.gov (look for “Multimedia Gallery” by the “Newsroom” button).

Should I Buy Gap Coverage on my New Car?

Purchasing GAP coverage from a dealer is usually much more expensive than covering it on your auto insurance policy.

If you are purchasing a new car you will likely be offered GAP coverage. GAP provides coverage for the difference between the loan amount and the actual cash value of the vehicle. For example if you purchase a new vehicle for $20,000 and 2 weeks later are involved in an accident, your insurance company will cover the “cash value” of the vehicle. Provided of course that you are carrying physical damage coverage. The “cash value” will be depreciated since the car is no longer “new” and will likely not cover the loan amount especially if you put down a small down-payment. If the cash value is $18,000 the GAP coverage will provide $2000 in coverage.

So it is worth it?  The dealer will likely offer a GAP policy for anywhere between $500 and $1000.

You are much better off to skip the dealers offer and cover it on your auto insurance.

Our 3 preferred companies- Travelers, Safeco and Kemper all offer GAP coverage. It is usually referred to as Loan/Lease Coverage.

It is available for around 5% of the comprehensive and collision premium. That usually works out to less than $25/year. In addition once your loan value drops under the “cash value” you can drop this coverage from your policy.

What about a lease?

A leased vehicle should always have GAP or Loan/Lease coverage. If your vehicle is totaled or stolen you will almost always owe more than the cash value of your vehicle in depreciation

Better than GAP or Loan/Lease…

We also offer Repair/Replace coverage for new vehicles. Repair/Replace goes beyond traditional GAP coverage in that it will provide replacement of your vehicle with “like kind and quality” if you vehicle is totaled and can not be safely repaired in a collision accident.