Keeping Up with Summer Storms

Good Morning everyone!

As you know, we are in the midst of summer and the amount of weekly storms is higher than it has been all year. Lately, some storms have been severe with high winds, heavy rain and even hail. Are you prepared for the next big storm? If not, it never hurts to be prepared and know what to do in case of a storm. There are simple steps you can take to help make sure your property and farm is protected as much as possible.

The following are some suggestions, taken from an article on Steve Anderson's Tech Tips newsletter blog.

1. Review your insurance policy. Update any necessary information such as location addresses, size of the deductible, and the current insured value of both your contents and home.

2. Evaluate your need for flood insurance. Many areas of the country saw an unusually large amount of snowfall this winter and as that snow starts melting, the water has to go somewhere. If it’s your basement, understand that your homeowner’s policy will not pay for that water damage.

3. Maintain home repairs. Make sure your home is in tiptop shape by having a local contractor inspect your roof, gutters, and HVAC system for damage or clogging. Make any necessary repairs, and clean air ducts and replace filters.

4. Create or update your Go Bag. If you have to leave your home in a hurry, would you have the essential items you needed ready to go at a moment’s notice? You can purchase a Go Bag at popular websites like Amazon and eBay. Or you can simply make a list of the items that you need to include and purchase them locally.

5. Have a communication plan. Family members may not be in the same place when a disaster strikes so think through beforehand how you will communicate with each other. Cell phones may not work well after a disaster if cell towers are damaged. Text messaging may have a higher likelihood of getting through. You can also designate a family member who is not in your local area to be your contact person.

Equine Insurance and Horse Value/Coverage Amounts

Hello everyone!

Today we want to help answer some questions about the value of your horse, for equine insurance purposes. Here are some frequently asked questions, and some answers thanks to our friends at Blue Bridle, that may help!

And of course, as always, if you still have questions about finding the right insurance for your horse, we are here! Call or email us at: pcohen@auizhi.com, 800-822-2202 or visit our website: http://equineinsuranceagent.com/

I Just Purchased A Horse And Got A Really Good Deal. Can I Insure Him For More Than I Paid For Him? He’s Really Worth More.
The price agreed to by a willing seller and a willing buyer establishes the horse’s market value at time of purchase. Generally you are not able to cover more than your purchase price the first year of ownership. When you apply for renewal of your mortality policy, you can request an increase if the horse’s market value has increased. You will need to provide information to substantiate the increase in value over what you paid for the horse.

I Bought My Horse For $5,000 When He Was A Two Year Old. He Is Now Five, Well Trained And Competing Successfully In Regional Shows. Can I Insure My Horse For More Than Purchase Price?
Insurance companies may allow an increase for a portion of the cost of training after a horse has been broken to saddle. After that, any further increases must be substantiated. Usually, your show records will provide the company underwriter with the information needed to justify an increase to what is considered to be current fair market value.

My Weanling Is A Homebred. How Much Can I Insure Him For?
Usually, homebred weanlings can be insured for two to three times the stud fee. Depending on the quality of the animal, exceptions may be made considering breeding and the selling price of the related offspring.

We are Here for you! Don't let Equine Insurance Confuse you!

Don’t Let Horse Insurance Confuse You

December 8th, 2013 • Related • Filed Under • by ACN Staff 

If horse insurance confuses you, do not worry, you are not alone. The insurance will give you a peace of mind as a horse owner, but can be a difficult thing to sort out even for experienced horse lovers.

When one starts looking for horse insurance, the list look endless as to coverage needed, but it does not have to be a daunting task. Most insurance companies have coverage they offer from those who have a horse for just pleasure riding to those who compete with their horse in different events.
Usually, instead of providing coverage for just one discipline, it is given by classes, so you can be covered for everything that you will do with the horse. For some insurances’, class A for example includes things such as breaking-in, low level competitions for riding and hacking. At the same time, class B includes those, plus levels that are more advanced including hunting.

Higher endurance and event levels can be tough on horses and put a great deal of strain, while dressage requires greater collection from your horse.
In other events, horses have increased risks of twisting or tipping over their cart putting the horse equally at risk.

Most insurance companies recommend third party insurance and rightfully so. Whether someone is a pro or pleasure rider it is important to have in case a third party or a third party’s property is injured or damaged.

Third party insurance usually covers the horse or horses specified in the actual policy and does not matter who is riding or driving them, which gives the owners peace of mind. It does not cover however if the horse were to escape from his yard or field and cause damage, the owner is liable for that.

Thankfully, third party does not cost that much and it is better to be safe than sorry and have the coverage, rather than not have it when needed most.

Another form of insurance to consider is personal accident insurance. This form of insurance covers your permanent disability and accidental death and is useful in particular, if there are a number of different people that ride the horse, as they too can be covered.

Insurance Terms & Definitions You May Hear

Good Morning Bloggers!

Today we wanted to share with you some common terms you will hear in the insurance industry, or while dealing with your agent. It's important that you have a basic understanding of your policy and what it covers, or at least an agency who can help explain everything to you. (With a good insurance agency, things don't have to be overly complicated!! They can help!)

Here at Associations Underwriters/Ziplow Horse Insurance, we do our best to keep all of our clients informed and educated so they can feel secure in knowing that we are doing our best to get them the protection they need!

Let's start off with a few terms you may hear:

Appraisal
An evaluation of an insurance property claim by an authorized person to determine property value or damaged property value.
Cancellation
The termination of an insurance policy during the policy term. An insurance company can only cancel the insurance policy for reasons stated in the policy and permitted under the law of the state in which the policyholder resides.
Claim
A policyholder's request for reimbursement from an insurance company under an insurance policy for a loss to property.
Deductible
The amount an insurance policyholder must pay out of pocket for a covered claim.
Depreciation
The estimated decrease in property value over time due to wear and tear, aging and other related factors.
Endorsement
A provision or document added to an insurance policy that changes the original coverage offered in the policy.
Exclusion
Certain property, persons or circumstances noted in a policy as not covered by an insurance policy.
Independent Agent or Producer
An insurance agent or producer who represents more than one insurer.
Individual Policy
An insurance policy sold directly to an individual, often through direct mail or phone solicitation. Individual policies do not require people to be members of an employment-based group, association or special group insurance trust.
Insurance
A contract in which a policyholder pays a set amount to an insurance company for protection against specified losses or perils.

We will continue next week with a few more! And remember, like always, if you have any questions or are looking for an insurance agency who will keep you in-the-loop, contact us today at: http://equineinsuranceagent.com/ 

Have a great week!





(terms and definitions provided from Progressive Insurance online)