An ounce of prevention can save you your deductible. Over the years I’ve heard various types of water damage claims that clients have experienced. Partly because of this, I’m taking matters into my own hands as it relates to trying to prevent water damage at our home or office. Our properties are now heated via a baseboard system that runs a direct water feed line to our hot water heater and oil burner.  Due to this change, I am able to install a cut off valve to all of the other piping that feeds the rest of the house and building so that when we leave, we can simply turn off that valve. This simple step reassures me that some random second floor pipe will not burst and create havoc in the form of water damage. Any essential piping can remain separate- such as those that feeds to sprinklers. A direct line still potentially minimizes your risk.

The cost of hiring a qualified plumber to add a few pipes and valves will be inexpensive compared to the resulting damage of a pipe burst.  Another great solution is to add a water cutoff; this turns off the main valve when sensors become wet.  Our properties  already have these, but unfortunately,  there are only so many you can add and they do not provide the same coverage as simply turning off the water.  We have large deductibles to help reduce our premiums so I am always thinking about prevention and how to save money in the event of a loss.  Having great insurance is so important and not having to use it is even better.

A car accident is typically exactly what it sounds like – an accident. The National Academy of Sciences published a study by TA Dingus et al. that found that distracted driving, which ranges from cell phone use to fatigue, has become one of the primary causes of serious car accidents. This shows that it is incredibly important to always be an attentive driver by staying focused, following the rules of the road while driving, and knowing when to pull over.

Relating to car accidents is the topic of today’s post- Supplemental Spousal Liability coverage. If you are married and live in New York State, we suggest adding this important coverage to your auto policy if you do not already have it. If you don’t know for sure whether or not you have it, take a moment to review the most current copy of your auto policy or contact our office to see exactly what you are covered for.

As the National Assoc of Insurance Commissioners explains, most NY auto insurance policies provide coverage for the injuries and damages of people and property involved in an accident. Policies also include uninsured/under-insured motorist coverage, which covers pain and suffering to you if you get into an accident with an at fault driver that has no or little liability insurance.  The important thing to note is that, if you cause an accident, these coverage’s may not cover your spouse if they are injured in the accident. Supplemental Spousal Liability coverage fixes this lack of coverage by providing coverage for bodily injury or death of the spouse of the at fault insured driver. Please don’t hesitate our office today to see if your policy includes this coverage, to learn more about it or to get the price to add it to your policy.

Sources:

NAIC. “Auto Insurance Coverage: Understanding your Auto Insurance Policy.” Retrieved from https://www.naic.org/documents/consumer_alert_understanding_auto.htm

Naturalistic driving evaluation of crash risk

Thomas A. Dingus, Feng Guo, Suzie Lee, Jonathan F. Antin, Miguel Perez, Mindy Buchanan-King, Jonathan Hankey

Proceedings of the National Academy of Sciences Feb 2016, 201513271; DOI: 10.1073/pnas.1513271113

From <https://www.pnas.org/content/early/2016/02/17/1513271113>