Month: July 2019

Summer is a great time to go on vacation, relax, and spend quality time with friends and family. However, it’s important to keep in mind that there are hazards specific to this time of year that should be considered. Read on to find out some common summer insurance claims and how you can avoid them!

Car accidents

It may not come as a surprise that one of the most common summer insurance claims involve car accidents due to the amount of people out on the road going on vacation, heading to the pool, and so on. Additionally, keep in mind that there is an influx of young drivers on the road because of school being out for summer break. If you have a teenage driver, take a moment to caution them about the dangers of distracted driving and encourage them to not text, mess with the radio, or engage too much with their passengers while driving.

However, there are other hazards on the road that everyone should look out for regardless of how many years experience you may have; for example, the summer months bring with them frequent road construction, inclement weather, and a higher risk of cars overheating.

In the event that your car overheats while on the road, pull your car over to a safe spot immediately.Wait for the vehicle to cool down before touching the radiator cap as removing it too soon when checking the coolant can result in third degree burns. Do not attempt to operate your vehicle after this point; you’ll need to take it to an auto repair shop to ensure that your car’s cooling system is working properly. Driving an overheated car can cause radiator hoses to burst, a blown head gasket, or any other number of costly repairs, so be sure you get your car checked out sooner rather than later!

Outdoor fires

With bonfires and barbecues comes another one of the most common summer insurance claims: outdoor fires. Standing around the grill and roasting marshmallows with family and friends is a great way to spend a summer evening, but this can unfortunately lead to a flame that goes out of control. On average, 10,200 home fires a year are started by grills with more than half of these fires occurring May – August.

July is the peak month for grill fires due to the festivities surrounding the 4th of July. However, grills are not the only source of a potential fire on Independence Day; according to the National Fire Protection Association, fireworks cause an average of 18,500 fires per year including 1,300 structure fires, 300 vehicle fires, and 16,900 outside and other fires.

This being said, the best way to avoid any property damage caused by barbecues and fireworks is to exercise caution. Never leave an open flame unattended, and keep a fire extinguisher nearby in case the fire becomes difficult to manage.

It’s also important to note that any personal belongings damaged in a fire are covered under a standard homeowner’s insurance policy. Contact Risk Averse Insurance and start saving money on your homeowner’s policy now! Enter your information for an instant PA homeowner’s quote online, or call to discuss your options with a Risk Averse agent.

Home Burglaries

Millions of families leave their homes to go on vacation each summer, leaving their personal belongings unattended. Because of this, the number of burglaries consistently rises during summer months. The resulting property loss from these burglaries is another one of the most common summer insurance claims we see.

If you’ll be on vacation for at least a few days and you’re leaving an empty house behind, it’s a good idea to avoid giving any indication that your house is unattended. Ask a neighbor or hire a house-sitter to get your mail every day and turn on some lights to make it seem as if you’re home. You can also purchase lights that are triggered by a timer so you don’t have to worry about wasting power for nighttime.

One way to combat the financial blow from stolen property is to be prepared in case a burglary happens. A loss resulting from theft is covered by most homeowners insurance policies as part of your personal property coverage. So, if someone breaks in and steals your laptop while you’re on vacation, you can be reimbursed by your insurance company based on the limits on your policy. If you’re not sure about how high your limits are or what your deductible is, contact your insurance agent before going on vacation to clarify.

Risk Averse Insurance has been insuring Delco and the surrounding areas since 2015, and we want to partner with you to ensure that you’re getting the best possible coverage.

 

Call Risk Averse Insurance in Media, PA to discuss your home and auto insurance.

Risk Averse Insurance is an independent insurance agency in Delaware County that specializes in providing high-quality insurance products at an affordable price.

If you own your own business, you may be wondering whether you need professional liability insurance. The answer varies depending on your line of work.

Professional liability insurance (also known as E&O insurance or medical malpractice insurance) provides coverage for business owners that offer advice or professional services in the event that you give bad advice or fail to perform a service resulting in a client’s lost revenues. Professionals such as accountants, lawyers, physicians, and real estate agents would be required to carry this type of insurance policy as it protects you from your most common causes of loss.

It’s important to note that a professional liability insurance policy is a special type of coverage that is not included under general liability. If you currently have a general liability policy, the additional coverages afforded under professional liability insurance would need to be purchased separately.

Professional liability is often written on a claims-made basis; this means that your professional liability policy will only respond if the claim is made during the policy period for a loss occurring within the coverage period. So, if you have been doing business for a period of time, or you are transferring from one insurance company to another, you will want to make sure that the “retroactive date” on your new policy extends back to when you started the business. Furthermore, even if you are selling your business or moving on from the existing business for any reason, you will want to buy a “tail” on the insurance. Ideally, this will cover you during the statute of limitations period within your industry.

Professional Liability Insurance Examples:

• You build a website for your client in West Chester, PA. Glitches in the site cause it to shut down for several days, resulting in lost revenue to your client. You can be held responsible for this lost revenue.
• An architect draws blueprints for a building being constructed in Exton. Several months after the building is built, the roof caves in. The design of the custom roof turns out to be a poor one, leaving the architect liable.
• While working on customer computers in Kennett Square, you forget to re-install the firewall, allowing a virus to access customer files which include personal information.

Risk Averse Insurance has been insuring Delco and the surrounding areas since 2015, providing expert service while offering affordable prices on workers’ compensation insurance. We want to partner with your small business and ensure that you’re getting the best possible coverage.

 

Call Risk Averse Insurance in Media, PA to discuss professional liability insurance for your small business.

Risk Averse Insurance is an independent insurance agency in Delaware County that specializes in providing high-quality insurance products at an affordable price.