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Living Expenses in a High Value Homeowners Policy 4

By: Stacy Stafford | Posten on: Jul 9, 2015 9:02:26 AM

high_value_home_pic_2

"Coverage for Living Expenses for High Value

Homes."

 

The loss of a home is a devastating event to say the least for a family. Within the immediate chaos that ensues after such an event, the family is now faced with concerns such as, "Where will we live?" and "Is our coverage sufficient provide for our immediate needs?"

The coverage amount in a high value home policy is unlimited in most states based on actual additional living expenses until the insured can reoccupy their residence following a covered loss. Some of the features to this coverage are:

  • Help in locating temporary housing
  • Covers the increase in expenses until the insured can go home
  • Includes the cost of kenneling pets

Available coverage's may include:

  • Rent for temporary housing
  • Insurance policy taken out on contents in temporary housing
  • New account or "setup" fees for utilities at temporary rental home
  • Photocopies and expenses related to the claim
  • Moving costs incurred to move from the temporary rental home back into the rebuilt/reparied home
  • Reconnection fees for setting up utility and other related services at the rebuilt home
  • Pet boarding cost

Preferred carrier's will provide the insured with a temporary home that is in line with their current living standards.

It is important to remember the coverage for living expenses will pay for the additional expenses incurred after a covered loss.

By developing a relationship with your client will enable you to insure they have the proper coverage that will protect them if they should suffer a loss.

  How to Quote:

 

 

If you have any questions or would like a quote, please contact Stacy@Stuckey.com or visit our website at Stuckey.com

Topics: personal lines insurance

Renewal Questionnaires: Right for Your Clients?

By: Elizabeth Sedlock | Posten on: Sep 19, 2012 10:42:00 AM

One of the issues many of you face as a personal lines insurance agent is keeping up with changes to your insureds policies.  Unfortunately, not every insured is aware that they need to alert their insurance agents when they make a major purchase or change in their life.  For example, if your insured buys a new tractor or an engagement ring, do they immediately let you know so you can amend their existing policy to reflect the purchase?  Probably not.  If you run into this problem, don’t worry, you are not alone. 

freedigitalphotos.net

The good news, however, is that, in the majority of cases, you are not at risk.  In a recent court case in California, a judge decided that personal lines insurance agents are NOT responsible for reminding clients to make monthly payments, renew, or add coverage for a new item not previously insured unless the agent has done so in the past.  This case was more focused on the renewal of coverage and whether or not the agent is responsible for making sure the insured is aware of coverage cancellation if the insured has been alerted by other sources (for example, the carrier).  In the end, you, the agent, are not liable but that doesn’t stop people from holding you at fault.  That is why you should take as many steps as possible to protect yourself.

Insurance Agent Errors & Omissions

First, you need professional liability insurance (also known as errors & omissions coverage).  YOU need it, not just your clients.  According to My New Markets, the general understanding in the industry is that 1 in 7 insurance agents will be sued sometime in their careers, and the average settlement of those lawsuits is approximately $16,000.  Whoa.  That is why professional liability insurance with First Dollar Defense is so important for you.

Renewal Questionnaires

So, how else can you protect yourself?  One great way is to institute a policy where you send out a questionnaire EVERY renewal period.  We recommend sending the questionnaire out approximately 1 and ½ months before the renewal date.  That gives your insureds plenty of time to answer.  Another way to get more responses is to pitch in for a self-addressed, stamped envelope to go with the questionnaire.  That makes it incredibly easy for your insureds to get it back to you.  Many of the carriers we work with already have really detailed renewal questionnaires.  You can either use one of those or make your own.

Here is a great example SafeCo questionnaire that will give you an idea of direction in case you want to write your own version.  You can also check out this Travelers checkup for more ideas.

 

 

Topics: personal lines insurance, Stuckey & Co., high value homes insurance

Offer Your Clients a Hurricane Preparedness Checklist

By: Elizabeth Sedlock | Posten on: Jun 29, 2012 11:56:00 AM

Hurricane season is upon us and that means it is time for home and business owners to verify that the preparations made over the last few months are complete.  The reality is that the chance for major damage can be mitigated if your clients take the proper steps.  However, it can be hard to determine what really needs to be done to safeguard a home or business.  That is why many carriers offer comprehensive checklists that cover what to do in advance of a hurricane, right before a hurricane strikes and in the aftermath.  Providing your clients with these types of materials can help lessen the impact of hurricane losses and also offer peace of mind.  Your clients will know what needs to be done and taking those steps will make them feel safer.

A good example is the Chartis Hurricane Preparedness Checklist.  Not only does Charits give practical advice but they also have concrete actions your clients can take before, during and after a hurricane.

To view the Chartis Hurricane Preparedness Checklist and see if it might be right for your clients, click here.

Likewise, Chubb offers comprehensive hurricane checklists.  Chubb divides it up into two different documents; one covering important actions to take well in advance of a hurricane and one discussing steps to take directly before and after a hurricane has hit.

You can download both documents here: Chubb Hurricane Checklist 1 and Chubb Hurricane Checklist 2.

At Stuckey and Company, our personal lines insurance group works with various carriers so you can give your clients the best insurance coverage and resources.  To learn more, contact Shelli Windle at shelli@stuckey.com.

 

Topics: personal lines insurance, stuckey and company

Tools to Grow Personal Lines Insurance Business

By: Elizabeth Sedlock | Posten on: Apr 13, 2012 4:05:00 PM

Did you know that specialty personal insurance lines of business tend to be the most profitable of all personal lines policies? Did you know that you can increase your retention by 9% when you cross sell additional personal insurance policies? The more lines of business an insured places with you, the better chance you have to retain that customer for years to come. Yearly reviews of your insured’s needs are crucial to retention.  Each year, the insured may purchase something they did not even think of placing insurance on through you: a motorcycle, a boat, a piece of fine art or a valuable piece of jewelry that may not be insured properly. Cross selling can help you close coverage gaps for customers and make sure they are adequately protected; not to mention customers can see significant savings and discounts when they combine multiple policies.

One of our carries, Safeco, calls this process “relationship marketing” and provides tools on their website to help you.  You can order generic note cards that say “Happy Birthday”, “Thank You”, “Happy New Year”, etc.  Here is a brief glimpse of the HOW IT WORKS section:

How it works

  • Safeco provides you with an automated cross-sell campaign to target and cross-sell your monoline auto and home policyholders.
  • You can choose to mail your entire book of business, self-select which policyholders you want to target or mail to the same policyholders you did in the prior campaign.
  • Then select the letter or postcard you want to mail and Safeco will complete the mailing on your behalf.
  • We also provide you with call scripts and follow-up letters to help with your conversion process.
  • Safeco now provides you with an automated umbrella cross-sell campaign.
  • Safeco now offers an automated Motorcycle, Watercraft or RV cross-sell campaign.
  • To initiate your cross-sell campaign, simply click on the link below

Safeco also offers an Insurance Checkup form for you to use.  Contact Shelli at shelli@stuckey.com to learn about ways the other carriers can help you properly cover all your insureds!

Topics: Stuckey & Company, personal lines insurance, high net worth, high net worth insurance, high value homes insurance

High Net Worth Insurance - Consider the Worst Case

By: Elizabeth Sedlock | Posten on: Jan 13, 2012 3:20:00 PM

Are all home owner insurance policies the same?  Although most large insurance companies would like you to think so, all policies are NOT the same.  This is a particularly important issue for high net worth individuals with high value homes. 

Why?  Because the average home owner policy does not adequately protect against the worst case scenarios that surpass the standard liability limit, which is $500,000 in many cases.  When unfortunate accidents happen to someone with a high net worth, like pool accidents, personal injury or property damage, general policies might not cover all the costs associated.

Example of a High Value Home

That is where Group Excess Coverage can really help your high net worth clients.  This is a great opportunity for you to get a group of professionals (doctors, lawyers, etc.) together under one umbrella policy, eliminate gaps in coverage, and save them money.  The liability limits on these umbrella policies can be as high as $50 million. 

Like it or not, high net worth individuals are much more likely to be the victims of lawsuits, frivolous or not.  These group excess coverage plans, like Chartis’ or Chubb’s Group Personal Excess Liability Insurance policies, save your clients money and protect them against the worst case scenarios. 

Learn more about these types of policies at Stuckey & Company’s personal insurance site.

Topics: Stuckey & Company, stuckey and company, HIgh Value Homes, personal lines insurance, Stuckey, Stuckey & Co., stuckey and company, Stuckey and Co., high net worth, high net worth insurance, high value home insurance, high value homes insurance, estate planning, non standard home insurance

December Agent Alert - Stuckey & Company

By: Elizabeth Sedlock | Posten on: Dec 1, 2011 9:50:00 AM
Stuckey Agent Alert
Safety TekAspire A&EHarbor GuardMPLElementServicerProPersonalCommercial
 

Holiday Greetings

As the Holiday Season is upon us, we find ourselves reflecting on the past year and on those who have contributed to the success of Stuckey & Co. in a most significant way. From the bottom of our hearts, we say "thank you" to all of you who have made it possible for us to continue to serve our clients in such a wonderful way.

Each of you has played a valuable role in the success of our agency. We look forward to creating even more success together over the next year.

From our family to yours, we wish you a holiday filled with peace, love, and joy and a New Year with many blessings and lasting happiness.

Best to you all!

Dwight and Kerry Stuckey


What's New at Stuckey in 2012?

Incentives Program

At Stuckey & Company, we know that our success depends on working with the best producers.  To encourage you to grow your relationship with Stuckey & Company, we are launching a year-long, multi-product incentive program that will reward and recognize those of you who grow your business with Stuckey & Company. 

The program is simple: every two months, we will be focusing of one of our award-winning product lines.  For every new bind order you make of the featured product, you will be entered to win either the new iPhone 4S or a Kindle Fire.  A winner will be chosen for each product line so you have 6 chances to win.  It is up to you to claim your prize!

January-February: HarborGuard

March-April: SafetyTek Technology E&O

May-June: MPL

July-August: Aspire A&E

September-October: Commercial

November-December: Personal

Look for an email later this month announcing the start of the HarborGuard incentive program and outlining the terms and conditions.

Webinars

Coming in January:

January 19: New Agent Webinar

Welcome to Stuckey & Company!  Every six months, we host a New Agent Webinar to help our new agents and brokers learn about our easy quoting and application systems as well as information on coverage options.

January 26: SafetyTek Technology E&O Webinar

Did you know that Technology Errors and Omissions insurance coverage is NOT provided by a Commercial General Liability policy?  Learn all you need to know to grow your existing technology E&O business or jumpstart a new program.  This webinar will focus on the types of coverage offered by SafetyTek Technology E&O and the reasons your clients might need this type of specialized liability coverage.

To RSVP for any of the Stuckey & Company webinars, please send an email to Elizabeth Sedlock at esedlock@stuckey.com with the webinar name in the subject line.  You can also visit our website to sign up. 


Marina Insurance - HarborGuard

Don’t forget: the HarborGuard incentive program starts in January!

So, the economy has not improved much.  One thing that never changes is the need for marina insurance, especially in underserved areas.  Because Stuckey & Company can write policies for marine businesses that have insufficient liability insurance, or that have thought about reducing coverage to cut costs, Stuckey & Company has seen very strong activity from insurance agents with clients in need of these tailored coverages. The HarborGuard program gives these marine businesses outstanding coverage at an affordable price. 

In addition, HarborGuard includes new features that protect eligible classes, and gives agents more flexibility when writing policies. 

Popular new features include:
• Now can include water sports liability up to policy limits 


• Now includes Sudden and Accidental Pollution coverage 


• Deductibles as low as $25,000 for docks, including wind/collapse 


• Campgrounds, resorts, and homeowners associations now included


• Now able to write excess/umbrella and auto 


• The program can also include replacement cost on docks, liquor liability, non-owned auto and boat rental.

January and February is the time when marine businesses look toward the upcoming season and revisit insurance coverage.  So don’t be caught out in the water trying to keep yourself afloat…let us assist you in reviewing your current marina coverage to see if we can improve both cost and coverage.

For more information, please contact Jerry Lovin at jerry@stuckey.com.

START QUOTING NOW!  Get in the running for an iPhone 4S or Kindle Fire.  For applications and forms, click here.


Bind More Technology E&O Insurance

Great news: The SafetyTek forms are now approved in California!

We know the tech industry.  As the pioneers in technology E&O coverage, we understand that information technology professional service providers operate in a perilous business climate.  You can help them protect their businesses by offering professional liability insurance tailored to THEIR needs.

Educate your clients on the whys and hows of technology E&O coverage…Many professionals will not know that Technology Errors and Omissions insurance coverage is not provided by a Commercial General Liability policy. Commercial General Liability does NOT provide coverage for programming errors, contract performance disputes or any other Professional Liability issues. IT consultants and companies who have General Liability without Professional Liability (Errors or Omissions) coverage are taking a serious risk. It’s like a doctor practicing medicine without Malpractice insurance.

Technology coverages encompass a range of exposures. Some are specifically tailored, and others are broader.

When it comes to a knowledgeable team of Technology E&O insurance professionals, Stuckey & Co. has you covered.

For more information regarding Technology E&O insurance, please contact Maggie Hammett at maggie@stuckey.com. 


START QUOTING NOW!  For applications and forms, click here.

 

 
Inside This Issue
 

What's New at Stuckey in 2012?div
Marina Insurance - HarborGuarddiv
Bind More Technology E&O
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RHYME & REASON

Happy Holidays!

We at Stuckey sat down this year
to design our holiday card,
but getting our family in here
turned out to be rather hard.

Mom, Pop and their kids showed up
to meet the photographer.
Then Pop suggested the office staff
should be in the picture for sure.

So Underwriting elbowed in.
Customer Service did too.
And little by little the Stuckey family
grew and grew and grew.

The photographer got a wide lens.
He told everyone to squeeze.
Mom interrupted and stopped it then
before we could say “Cheese!”

“Look at our family!” she said.
“I’m thankful to have you near.
How can we say it’s a family photo
without our customers here?”

So that’s why we don’t have a photo
and why this poem is for you.
May you be as blessed this holiday
as we are blessed all year through.

 


Kudos
  The Three Avocados coffee we sent you last year paid for a well in Africa. To learn more about this wonderful organization, click here.

 

 

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Topics: affinity insurance program, competitive insurance, speciality insurance, tornadoes, tornado, insurance claim, weather, storms, Stuckey & Company, Blog, marina insurance, harborguard, kerry stuckey, stuckey and company, mga, specialty insurance, green insurance, element, safetytek, it insurance, HIgh Value Homes, hurricane season and insurance, personal lines insurance, EPL, Miscellaneous Professional Liability, Employment Practices, Management Liability, office insurance, corporate insurance, employers liability insurance, TECHNOLOGY, TECHNOLOGY, HubSpot Tips, harborguard, technology E&O, Stuckey, Stuckey & Co., stuckey and company, Stuckey and Co., data loss insurance, data loss risk

Stuckey & Company Newlsetter - August

By: jennifer strathmann | Posten on: Aug 17, 2011 12:25:00 PM
Stuckey Agent Alert
Safety TekAspire A&EHarbor GuardMPLElementServicerProPersonalCommercial
 

Hurricane Season is upon us!

Hurricane season has started and forecasters are predicting an above-average number of storms. Now is the time for our clients to review policy coverage and understand how to protect their future during what can be a catastrophic event.

It is important as agents to try to educate our clients on steps they can take to save their property. Most measures need to be taken before a storm occurs – generally allowing 12 – 24 hours of preparation time. If you have clients that currently have marina, boat or personal property coverage or are in need of coverage the following link may be useful to pass along. 

Contact Shelli Windle at shelli@stuckey.com for any questions about our Personal Lines insurance program.


Personal Lines Giveaway - Now more than ever...EVERY submission counts

For every bound submission beginning Aug 15th at 6pm through Sept 30th, you will receive one entry into our Sweepstakes drawing for a 40" LCD Television.

There is no limit to how many entries you can incur during the Sweepstakes period.

Drawing will be held at 12pm on October 1st and winner will be announced via phone, email and our online newsletter within 24 hours.

Contact Shelli Windle at shelli@stuckey.com if you would like any more information regarding our Personal Lines Giveaway Promotion.

 


Marina Insurance - HarborGuard

With hurricane season among us, what better time to ensure you are covered? Stuckey & Company has over 20 years' of experience managing the HarborGuard marina insurance program, a specialty insurance program for a wide variety of marine businesses, including marinas and boat yards, boat dealers, and boat repair and supply shops. While many businesses in this industry are feeling the impact of the economy, Stuckey & Company has seen very strong activity from insurance agents with clients in need of these tailored coverages. The HarborGuard program includes new features that protect eligible classes, and gives agents more flexibility when writing policies. 

Popular new features include:


• Waived requirement for primary pollution coverage

• Now can include water sports liability up to policy limits 

• Now includes Sudden and Accidental Pollution coverage 

• Deductibles as low as $10,000 for docks, including wind/collapse

• Campgrounds, resorts, and homeowners associations now included

• Now able to write excess/umbrella and auto 

• The program can also include replacement cost on docks, liquor liability, non-owned auto and boat rental.

“We have worked closely with the carrier to ensure the HarborGuard program is a competitive program in today’s insurance environment,” Stuckey says. “We’ve written or been very cost-competitive on every policy we’ve quoted, and agents have confirmed that the changes we’ve made are helping them meet their clients’ needs.” The carrier is rated by A+ (Superior) IX by A.M. Best, and is written non-admitted. The marine industry has very few national carriers with rates that are competitive for local markets. “Based on our 20 years of experience in marine insurance, we are confident that HarborGuard addresses the insurance needs of marinas and marine professionals who have had difficulty finding appropriate, affordable coverage in recent years,” Stuckey says. “For marine businesses that have insufficient liability insurance, or that have thought about reducing coverage to cut costs, our program gives them outstanding coverage at a price they can afford.” So don’t be caught out in the water trying to keep yourself afloat…let us assist you in reviewing your current marina coverage to see if we can improve both cost and coverage.

For more information, please contact Kerry Stuckey at 1-800-828-3452 ext 14


 
Inside This Issue
 

Spotlight on: Hurricane Season - Are your clients covered?
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Personal Lines - T.V. Giveaway
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Marina Coverage

 
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RHYME & REASON

Stuckey at 20!

We don't need a birthday cake
with candles set aflame;
nor do we need a plaque engraved
with the Stuckey family name.

We don't need a fancy hat,
or a note from Uncle Sam;
we certainly don't need another tie
or a singing telegram.  

Nor do we need a "hip-hip-hooray!"
or other birthday cheers
to celebrate the fact that we've been serving you 20 years.

But if you insist on a birthday gift
here's what you can do:
give us the gift that keeps on giving --
twenty more years of serving you.

 

 


Kudos
  “You are the best! I really don't know what I would do without Stuckey & Company. You guys are amazing to work with."  


NeedHelp
ContactTwitterLinkedInLinkedIn
 

800.828.3452

info@stuckey.com
 
 
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Topics: competitive insurance, weather, storms, stuckey and company, specialty insurance, HIgh Value Homes, hurricane season and insurance, personal lines insurance

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