Up in Smoke

A Charlotte lawyer purchased a box of costly cigars and insured them against flood, storm damage and, of all things, fire. Needless to say, his investment went up in (happily inhaled) smoke within a month, after which the lawyer filed a claim with his homeowners insurance company that he was owed compensation because "the cigars were lost in a series of small fires". The insurer refused to pay, assuming (correctly) that the man had smoked the pack himself. A judge ruled, however, that since the insurer had never stated what was considered to be "unacceptable" fire the company did, in fact, owe him $15,000 to replace his property.

The insurance company paid the claim, but they got their own back in the end. The lawyer was arrested, sentenced to 24 months in jail and a $24,000 fine for 24 counts of arson and insurance fraud.

Advice for Teen Drivers

Getting a driver's license is one of the greatest moments of a young person's teenage years. That feeling of freedom is truly liberating! Unfortunately, however, insurance for new teen drivers is far more expensive than it is for the rest of us. Statistically, teens are more likely to get in an accident than more experienced drivers, so their premiums are higher. Even the type of car a teenager drives can affect his or her premium. Fast cars or expensive cars are more costly to insure, as are old, beat-up cars that are prone to breaking down.

The most important thing for any parent buying a car for their child is safety, so be sure you find a solid car that is both safe and reliable, but keep in mind the above factors when considering your options. If you're interested in getting a free quote for your son or daughter on their first car then give us a call! 315.635.7600 or go to our website: www.hillsfarnham.com.

Safe travels!

What is an Annuity?

If you're like thousands of people (including me before I started my work at an insurance company) you have no idea what a lot of this insurance jargon means. Deductibles, premiums, annuities, etc. Well here at Hills Farnham, we know that the best customer is a well-informed customer; one who has all the tools and information necessary to make the best choice when deciding what they need in an insurance policy.

Starting this week, we'll be adding a video a week to our website walking you through the basics of insurance. Consider it your Insurance 101 course: an introductory lesson to how your insurance works, why you need it, and what you should be doing to get the most out of your investment. View the first installment, "What is an Annuity?" on our website today. Enjoy!

Click here to view.

A Word on Floods

Although it may not get as much news coverage as disasters like earthquakes and hurricanes, flooding is the nation's #1 natural disaster, affecting hundreds of thousands of Americans every year. Whether a flood washes away your home or simply ruins your basement, it's important to know where you stand with your insurance when the flood gates open (so to speak).

Most standard property policies don't cover flooding, it is typically sold as a separate piece of insurance. Many people assume that flooding is only an issue for those who live on the coast or border a major lake or river. Flooding, however, can happen almost anywhere. Major snowstorms late in the year followed by a rapid rise in temperatures can often cause small creeks and streams to swell beyond their banks. Add in the spring rains that are so common in this area, and almost anyone could be at risk. While floods in our area are typically not life-threatening, small amounts of water can do a lot of damage to your home and personal property.

Feel free to call one of our agents for some more info on flood insurance, or go to our website and check out some free videos that discuss the topic further.

Truck Takes A Swim

If you keep up with local news then I'm sure you've heard by now about the high-speed chase that ended with a truck going off the road on Charlotte Street and ending up in the Seneca River. The truck was fished out of the river around 3:30 AM on Monday, March 15, by the State Police. Both the Baldwinsville Police and the State Troopers are working to apprehend the occupants of the vehicle. (See the story here.)

While details are still unclear, this case gives us a chance to discuss what you should do if this were your car floating towards Lock 24. Let's assume, for a moment, that your car is stolen and ends up badly damaged or destroyed (we'll hope that you aren't the one running from the police late on a Sunday night). What's the first thing you should do? Call the police (again, assuming you're not on the lam) and file a report. Most insurance companies cannot process your claim without a police report. Next you should call your insurance company with the following information: vehicle title and paperwork, location of keys before, during and after theft, names and contact info of everyone who had access to the vehicle and a list of any personal property stolen along with the vehicle.

If your vehicle is recovered by the police, make sure you call your insurance company right away so they can quickly resolve the claim. Fortunately, we live in an area where grand theft auto is relatively low (unless you count your kids and their video games) but it never hurts to be prepared just in case.

Happy travels!

Spring is Almost Here!

That's right folks, it's warming up, and with warm weather comes warm weather hobbies. It's time to put those snow mobiles and skis back in storage and break out your jet skis and sunglasses. But before you hit the water this spring, be sure you know what you're doing. Every summer we hear about terrible accidents on the water involving personal watercraft, and we don't want that to happen to anyone. Take a minute and check out this video on jet ski safety and how you can protect yourself at sea:

See more safety videos at our website.

Defensive Driving Online

Defensive Driving Online by Improv is a new and unique way to lower your car insurance premium. They call it "edutainment," a combination of education and entertainment. The course can be completed entirely online and features video and even stand-up comedy so you can be entertained while you learn.

Not only is it entertaining, however, it's effective. It can be completed on your watch and you can start and stop whenever you want. It's only $35, and to me it seems like a pretty good use of the money. Check it out here and let me know what you think!