The below article was originally published via Hagerty's Classic Car Insurance publications.
Snotherly Quite the Saab story.
A total loss has a way of putting an insured's policy into perspective. The following story is a perfect example of why providing proper coverage is so important:
A car ran a red light and t-boned a beautiful, low mileage and all-original 1980 Saab 900. Fortunately, no one was hurt, but when the owner went to file the claim, he was dumbfounded by the payout. He had a stated value policy with a standard carrier that set the value of his Saab at $12,000. After sending in pictures, they referred to Kelly Blue Book and tried to find his car. The closest they came was a 1992; they assumed it had 145,000 miles on it and set its worth at $1,635 in Excellent Condition.
When the Saab owner expressed his displeasure, his insurer used NADA, which actually had a 1980 Saab 900 on the books. Being the correct car, they honored this payout, but in Excellent Condition they set its worth at about $3,500. The Saab owner checked a classic car auction website and found a car almost identical to his that sold for $13,500. But because it was a stated value policy, the insurer would not consider this a valid resource.
He's hired a lawyer and has a lengthy legal battle ahead of him.
No one – not you or a member – wants this experience. A quote with Nationwide®/Hagerty®, given his information, would set the value at $13,500. The premium would be $356 for the year and he would be 100% covered for that whole amount. From the initial peace of mind to final payout, a Nationwide/Hagerty policy recognizes a vehicle's value and is designed for people who love their cars.
Snotherly Insurance Agency is an official Nationwide/Hagerty Auto Insurance Carrier. Contact us for more information concerning how we can assist you with your auto insurance or classic car insurance.
What does Workers Compensation and Hurricane Irma have in common? Well if a contractor or fellow business owner that you know is considering going to Florida to assist in the disaster relief, the state of Florida does have many specific out of state contractor requirements that a contractor should be wary of. Many of them include:
More importantly, due to the potential risk of suspected help that the State may receive from out of state contractors, Florida will be performing onsite inspections from a specific group of investigators formed by the Division of Workers Compensation. With that being said, contractors and businesses that are found to be working without Workers Compensation in place will not only receive a "stop work order" but must also pay a hefty $1,000 penalty fee before normal business operations may progress. The State of Florida is even offering rewards of up $25,000 for those that can supply information to the State of those committing insurance fraud including businesses not carrying appropriate Workers Compensation coverage .
Information originally posted from the below article concerning Workers Compensation Insurance in the State of Florida
Note: Original article published by Insurance Institute for Business & Home Safety not by Snotherly Insurance. Access to the full article can be found by clicking here!
Shut the doors on hurricane irma
Following rigorous scientific wind testing on a full-scale, 1,400 square foot single-story home in its unique laboratory this summer, the Insurance Institute for Business & Home Safety (IBHS) has important new guidance for all homeowners preparing for major wind storms such as Hurricane Irma: close all interior doors, in addition to all windows and exterior doors.High winds, such as those currently expected from Hurricane Irma, place homes under intense pressure. Wind entering the home through an open or broken window, can create strong upward pressure on the roof. Closing interior doors helps compartmentalize the pressure inside the home into smaller areas reducing the overall force on the roof structure, which gives the roof a better chance of staying intact.
“The roof is your first line of defense against anything Mother Nature inflicts on a home, and during a bad storm your roof endures fierce pressure from wind, rain, and flying debris that may be outside,” said Julie Rochman, IBHS president and CEO. “But the roof also must withstand internal pressure if winds get inside. The pressure in your home can build like air in a balloon, eventually causing the roof to fail and blow apart, which – particularly in a hurricane – allows water to come pouring in.”
As the eastern United States and Caribbean islands prepare for Hurricane Irma, IBHS urges homeowners to follow all evacuation orders and be sure to shut the doors on Irma to increase its ability to withstand the storm.
Is Your Insurance a person, a peace of mind, or a promise of protection? If you did not answer all 3 to the above question, then perhaps one should consider utilizing the advantages of a trusted independent agency. In the event of a loss, purchasing the correct insurance can be the benefactor in determining if you're appropriately protected. Furthermore, not carrying the correct insurance can potentially ruin your financial well being. Should you really place that trust in simply your instinct (or your gut) when shopping online for insurance? At Snotherly Insurance it is our goal to not only provide you and your family and/or business with the appropriate coverage plans at the best value, but to also be a part of your personal team. Similar to your accountant, lawyer, and doctor, we play our part in handling your insurance matters, with your best interest in mind. In addition, as an independent agency we offer a variety of insurance services alongside just selling you an insurance policy. Below are our top 5 reasons why we recommend choosing a Trusted Choice Independent Agency for your insurance needs.
1. We are experienced and licensed advisers
It's no secret that insurance terms and lingo can be extremely complicated. More importantly, as an insurance policy holder it is essential for you to not only focus on what's included in your insurance policy, but also what is excluded. This pertains to Car Insurance, Business Insurance, Professional Liability and even Life Insurance. A trusted independent agent can serve as your consultant and adviser in recommending the best insurance policy protection for your specific needs. Furthermore, as a licensed adviser, an independent agent is available for inquiries, and assistance throughout your policy term, which brings us to item #2
#2 Insurance Service
In a world where everything is digitized, we realize that it is convenient to assist our customers directly with all insurance service matters allowing them more free time to focus on other focuses in life. In the event that you need to contact your insurance company for a simple service call such as paying a bill, changing an address, or making a policy change (such as buying a new car for example) would you personally prefer to call a 1-800 number, receive a voice message system from your insurance carrier and potentially stay on hold for a length of time or simply call your agent directly and trust that they can handle this change for your accordingly? Most would choose option #2 undoubtedly! Our agency has customer service representatives as well as agents accessible to service your insurance needs so you don't have to.
#3-Insurance options & CHOICES
An an Independent Agency we have the availability to present a number of options for your insurance needs. We are not hindered by captive insurance companies allowing us the freedom to locate the best quotes for your insurance policy through a variety of markets and insurance carriers. Just call us your One Stop Shop for your insurance protection. Additionally, it is important to note that as a representative of a variety of companies we can also provide insight and wisdom to you as our customer concerning the companies, such as their financial rating, methods of payment, insurance practices and overall ease of use in regards to claims, audits, etc.
#4. We are local
Located in Raleigh just minutes from the Beltline, our agency is a local business and we therefore support local businesses in the Raleigh and North Carolina community. That means we understand, experience, and can advise our customers on the best insurance matters that may arise here in Wake County. When a hurricane, snow storm, flood or similar unfortunate occurrence transpires in the area, chances are high that our business and agents experience the event as well and therefore can sympathize and comprehend your immediate insurance needs. Furthermore, doing business with a local agency allows us to often meet you, our customer face to face so that we may get to know you personally. You're more than just a policy or customer number to us, your part of our family. Lastly, being local allows our customers access to our local Raleigh office for quotes, inquiries, billing and payments and more.
5. Your Counselor through life for insurance
Not only do we as independent agents review your insurance coverage and policy annually to determine if you are receiving the best value and coverage plans, but we also understand that as life progresses so may your insurance needs. Being an insurance agency in the Raleigh area since 1964, we have witnessed and insured families as well as businesses as they grew and expanded. Moreover, we have experienced and many changes in the insurance industry since we opened our doors as well. With that being said, we anticipate changes in your insurance policy and are often in touch with you directly to simply insure that these changes should take place. Often times business owners for example may strive for growth which may include increasing their Workers Compensation payroll, opening a new location or even vice versa, shutting down a location to potentially work from home and spend more time with family. Similarly, if you are a car insurance policy holder, you may desire to increase your insurance coverage, purchase a new automobile, or even lower your liability coverage as life progresses. We as your insurance agent are there to assist, advise and change and even offer the correct policies and protection throughout your life when these changes are needed.
Snotherly Insurance serves insurance solutions in the Raleigh, Wake County and North Carolina areas. The agency specializes in Automobile Insurance, Business Insurance, Home Insurance, Workers Compensation, Tenant Insurance, Condominium Insurance and more. For further information regarding their agency or for questions please feel free to leave a comment below or reach us directly at firstname.lastname@example.org. Thank you for reading!
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