Parking lot accidents are zero fun. I had a client go through an experience recently that was excactly that. Zero fun. My client claimed to have barely touched the other’s vehicle. There wasn’t even a mark on her car. The person she hit, claimed that she struck him so hard that it caused his car […] The post Simply Explaining Insurance #91- “You hit me”. “No, I didn’t” appeared first on Dietz Agency ....
How does insurance work if you strike a car you own, with another car you own? How about if you accidentally run into your garage door? Or some property you own in your garage or driveway? Good news is, there will most likely be coverage for you. What you need to know about these scenarios, […] The post Simply Explaining Insurance #90- Hitting your own car or house. appeared first on Dietz Agency ....
This strategy isn’t for everybody. It takes some understanding and some discipline. If you can pull it off and start using this concept, it can be quite eye-opening. Listen to the basics of the strategy here. This episode explains what it is like when you borrow money from your permanent life insurance policy. In order […] The post Simply Explaining Insurance #89- Paying yourself back appeared first on Dietz Agency ....
This episode explains how insurance companies see vacant properties. Always consult your insurance agent or company as policies differ from company to company and state to state. Let’s say a property is vacant for more than 30 days, many insurance companies will exclude coverage for theft and vandalism. If you are trying to insure a […] The post Simply Explaining Insurance #88- Vacant Properties appeared first on Dietz Agency ....
This episode is about a little trick you can do if you are planning on selling your car and canceling your insurance. If you do this and will be purchasing auto insurance in the future, you will be losing an important discount (for lack of a better term) called “prior insurance” Prior insurance is a […] The post Simply Explaining Insurance #87- Nonowner auto insurance appeared first on Dietz Agency ....
There is a particular way to make sure your jewelry is covered properly on your insurance policy. If you have a small amount, many times it is covered in the base home policy. For example, the policy I offer can come with $5000 total, up to $1500 per piece. Anything over that amount, you want […] The post Simply Explaining Insurance #86- Agreed Upon Value appeared first on Dietz Agency ....
There is a coverage that is available as an endorsement on your homeowners policy called, “Sewer and Drain”. What does it cover? Honestly, it’s a deceptively named endorsement. This will help cover any damage done by a backup or overflow, into your house from a blockage that is off premises. So if there is a […] The post Simply Explaining Insurance #85- Sewer and Drain appeared first on Dietz Agency ....
I had two conversations with clients last week regarding the difference between 1099 contractors and W2 employees when it comes to insurance. This is an important distinction to get right for a number of reasons. Many new business owners want to hire 1099 contractors for one main reason. It’s cheaper. They don’t have to pay […] The post Simply Explaining Insurance #84- W2 vs. 1099 appeared first on Dietz Agency ....
If you are a business owner and you have a partner, a buy sell agreement should be an important part of your business plan. A buy-sell agreement in its simplest terms is a life insurance policy that the business owns in the event of the untimely death of one of the partners. When a business […] The post Simply Explaining Insurance #83- Buy Sell Agreements appeared first on Dietz Agency ....
The carrier that I work for just added two exciting endorsements to our latest homeowners policy. If there was ever such a thing as an exciting endorsement to a homeowners policy, this is it. This first one is a service line endorsement. It covers things like, the main water line running to the house from […] The post Simply Explaining Insurance #82- Service lines and Equip. Breakdown appeared first on Dietz Agency ....
Are you are in the business of flipping houses? It is important for you to understand how to insure this risk. A house that is being purchased, remodeled and resold, requires a different policy than you average homeowners policy or landlord policy. It’s a completely different risk. You may have to write a vacant property […] The post Simply Explaining Insurance #81- Flips appeared first on Dietz Agency ....
The world has changed a great deal in the last 10 years. The iphone launched, apps were invented and almost everything we do, is different. You want a taxi? Order one up on your phone. You want a place to stay in Manhattan? Select a place on your phone and book it. This has also […] The post Simply Explaining insurance #80- Shared Economy appeared first on Dietz Agency ....
“I’m an excellent driver”. I hear this all the time. Now, you can prove it and pay less for your insurance. Driver tracking technology isn’t new and it has been around for a decade or so. It is getting more sophisticated though. The tech that I am familiar with is called the Signal App and […] The post Simply Explaining Insurance #79- Driver Tracking tech appeared first on Dietz Agency ....
Let’s say that you were involved in an auto accident and your vehicle sustained a substantial amount of damage. To repair that damage, it would cost more than the vehicle is worth. What are your options. You have 2 options. Your first option is to give the car to the insurance company. They will salvage […] The post Simply Explaining Insurance #78- Total Loss appeared first on Dietz Agency .
Claims can tough. I get calls every week from clients telling me that there is damage somewhere and asking if there is coverage. Unfortunately, that question is never easily answered. What I help a client with, is determining the source of loss. If there is water damage, where did the water come from? Was it […] The post Simply Explaining Insurance #77-Source of Damage appeared first on Dietz Agency ....
My agency gets asked these questions often. “How are my things covered when I am moving”? Or, “Are my things covered in Storage?” If you have a homeowners policy in place, the simple answer is “yes.” There is situation where your belongings may only covered up to 10% of what your homeowners policy says. It […] The post Simply Explaining Insuance #76- Moving and Storage appeared first on Dietz Agency ....
The agreement you have with an insurance company to insure your autos or home is a two sided mutually agreed upon situation. If either side wants to bow out, they have the right to do so. We see this more often on the consumer side when a client chooses to change companies. It can be […] The post Simply Explaining Insurance #75- Nonrenewals appeared first on Dietz Agency ....
Deductibles are a part of just about every type of insurance policy. It is what you will pay in the event of a claim and the higher your deductible, the lower your premium. I think it’s smart to look at your options and run the numbers. In some cases, raising a deductible on your auto […] The post Simply Explaining Insurance #74- Deductibles appeared first on Dietz Agency ....
The insurance industry pours billions of dollars a year into advertising and their ads are unavoidable. The issue I have with these ads, is while they are undeniably entertaining, they have no caloric value. While they are entertaining, I think they are a little misleading. Companies saying it’s easy to get a quote and a […] The post Simply Explaining Insurance #73- Insurance Commercials appeared first on Dietz Agency ....
The individual health insurance space is a confusing landscape to navigate. It’s important to consult a licensed professional when discussing options and plans. On this podcast I talk about a health plan that is available that many are unaware of. Short term health insurance. These plans offer really nice coverage at an affordable price. They […] The post Simply Explaining Insurance #72- Short term health insurance appeared first on Dietz Agency ....
Tis the season for health insurance and I have had a number of very good conversations with clients. When most people think of health insurance, they think of three things: How much does it cost? What is the deductible? What are the co pays? These are good questions to ask, but there is one part […] The post Simply Explaining Insurance #71- Out of Pocket Max appeared first on Dietz Agency .
If your tree falls on your neighbors house and no one hears it, is it covered? I jest a little, but this question gets asked regularly in my agency. I did some research with a claims supervisor and found out that trees falling on houses, are considered an act of god. Acts of god are […] The post Simply Explaining Insurance #70- Trees falling on houses appeared first on Dietz Agency .
If your garage door closed on your car and smashes the rear window of your car is this covered as a Homeowners Claim? Comprehensive claim on the auto policy? Collision claim on the auto policy? Ill bet you’re wrong. Find the answer in the podcast or audio embedded in the blog below. Links: My Website […] The post Simply Explaining Insurance #69- Comprehensive vs. collision appeared first on Dietz Agency ....
In this episode I talk about the repercussions of filing an auto insurance claim. I have had a few instances in my career where a client had filed a claim, or had one filed against them and they wanted it withdrawn. This is the rub of my business. Everyone is paying for a product they […] The post Simply Explaining Insurance #68- Withdrawing Claims appeared first on Dietz Agency .
Cyber crime has become yet another thing for business owners to worry about. Good news is there is a product called cyberliability to ease some of that worry. Business owners can add this to some existing policies, or purchase a stand alone policy that will protect them from such acts. If your company stores sensitive […] The post Simply Explaining Insurance #67- Cyberliability appeared first on Dietz Agency ....
This episode is for those who are buying a home. Purchasing a house is a lot of work and there are a mountain of hoops to jump through and tons forms to fill out. One of the most important forms is the property disclosure form. A question on that form, is “Have you filed any […] The post Simply Explaining Insurance #66- Clue Reports appeared first on Dietz Agency .
Bike vs. car. You read that right. Not car vs. bike. I recently had a claim filed where the cyclist hit the car (no serious injuries thank God), and not only that, the cyclist was TICKETED for failure to yield. The cyclist did have some minor injuries. The car was damaged and the person driving […] The post Simply Explaining Insurance #65 Bike v. Car appeared first on Dietz Agency .
I had a conversation with a client that wasn’t pleasant due to a denied claim. This is a battle that I will continue to fight and it is one of the main reasons I write on this blog and record podcasts and videos. My industry does a terrible job of educating our clients on how […] The post Simply Explaining Insurance #64- Dryrot appeared first on Dietz Agency .
I get calls in my office once in awhile from clients who want to know how their pricing on auto insurance is determined. This simple question does not have an easy answer. There are dozens and dozens and dozens of factors that are taken into place to price a policy. You know many of them. […] The post Simply Explaining Insurance #63 Auto Insurance Pricing appeared first on Dietz Agency .
I have been an agent since 2004 and every week, I get to learn something new. I continually get questions I haven’t heard before. The latest question I had to answer from a client, was “If my dog brings in a skunk and the skunk sprays inside the house, is there any coverage for that?” […] The post Simply Explaining Insurance #62- What if your dog brings a skunk into your house at 2am? appeared first on Dietz Agency ....
