Wenclewicz Insurance Presents: Ask Wenc

Don’t Get Soaked!!!


Of all the appliances in your home, the water heater and washing machine are the most likely to cause serious damage…

1 out of every 10 water-damage claims are traced to malfunctioning water heaters and washing machines. These two machines are more likely than Mother Nature to cause damage to your home.

In fact, water is the most common cause of home damage today, even more likely than fire!

Our advice on reducing your chances of water damage:

Replace old water heaters. They do damage when they get too old and the tank rusts and bursts. Replace your tank once a decade.

Stainless steel hoses. Inspect standard rubber or plastic hoses used with the appliances and consider replacing them with stainless steel-braided or mesh hoses.  A $10 braided steel hose can save thousands.

Turn it off before you leave. Don’t leave dishwashers and washing machines running if you leave the house.

Check attic air conditioners. At least once a year, go up to the attic or roof to check these appliances. Look for wear and tear or loose connections.

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Great Gift Idea!!!


Do you have a God-son/God-daughter?

Grandson/Granddaughter?

Nephew/Niece?

Or maybe you just want to protect your own child?

We strongly recommend you look into a children’s life insurance policy.

 One of the best gifts you can ever give for a child you care about!

If you started a child life policy with a face amount of $25,000, automatically at age 18 coverage would go to $37,500(with no increase in premium) and then at 25 the face amount would increase again to $50,000(again with no increase in premium)

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How Can I Report A Claim???


At Wenclewicz Insurance you have the best of both worlds. 

Our office hours are M-Fri 8:30am -5:15pm.  During that time we recommend you call our office 317-288-5099 to get our advice about coverage, deductibles, etc.  We can then transfer you directly to the company to “officially” turn in your claim.     

During non business hours, we also recommend you call our office 317-288-5099.  You can follow the auto attendent prompts and turn in the claim directly 24/7 to your insurance company.  Our office will follow up with you to make sure that everything is going smoothly with your claim in the days following.

You can also access the claim reporting #’s for all the companies we represent on our website as well, wenc-insurance.com

 

 

 

 

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What Happens When I Buy A Car During (Wenc Ins) Non Business Hours???


If the new vehicle replaces a vehicle listed on the Dec Page:

the coverage, deductibles, and limits of liability will be those provided for the replaced vehicle *Temporary Coverage*  

If the new vehicle is an additional vehicle:

the coverage, deductibles, and limits of liability will be those provided for the vehicle(s) listed on the Dec Page already *Temporary Coverage*

The biggest issue/concern is if the current vehicle that you are replacing has liability only(which means no comprehensive or collision coverage) and you wish to have comprehensive and collision provided for the new vehicle.

In this case the company does extend $500 deductibles for both comprehensive and collision for a very short amount of time *Temporary Coverage* 

So make sure you contact us the following business day to update your policy.  It is very important to remember that all of the above applies to temporary coverage which means you are covered to drive the car off the lot!  

The moral of the story here is to notify us the next business day on your new vehicle and we can make the changes/updates PERMANENT.

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Back-Up Of Sewers Or Drains Coverage???


This endorsement provides coverage for losses caused by water which backs up through sewers or drains or water that enters into and overflows from within a sump pump or sump pump well.

This coverage is NOT standard and is typically excluded!

It is the 2nd most common claim in Central Indiana behind hail and we recommend AT LEAST $5,000 worth of coverage if your property is on a crawlspace and/or basement.

It is important to know that you can add on in increments of $5,000 and most companies will only allow you to add up to $25,000.  We have several companies that will go higher than $25,000 if necessary!

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Coverage E…Personal Liability???


Coverage E is included in your condo/home/renters insurance policy for at least $50,000.

We recommend no lower than $300,000 for property owners and in fact you can go up to $500,000 before adding an umbrella policy which gives you even more protection.

We recommend no lower than $100,000 for renters.

If a claim is made or a suit is brought against you for damages because of bodily injury or property damage your insurance company will:

Pay up to the limit of liability on your policy for the damages for which you are legally liable.  AND…

Provide a defense by counsel of the insurance company’s choice even if the suit is groundless, false or fraudulent.  The insurance company may investigate and settle any claim or suit that they decide is appropriate.  Their duty to settle or defend ends when the limit of liability for the occurrence has been exhausted by payment of a judgment or settlement.

So why should you care?

If someone gets injured on your property whether they were invited or uninvited, whether they were inside or outside your residence, you could very much be on the hook if you don’t have the proper coverage.

Of course there are some exclusions but not many.  Please consult with us if you wish to raise your limits or if you have questions in general.

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Home Insurance And Renewals???


We have certainly let you know about the rising home premiums over the last several  years in the industry (see our prior blog, What Other Agents/Insurance Companies Don’t Want You To Know About Your Home Policy?).  But now companies are doing much more than just raising premiums.  They are switching to actual cash value (ACV) payouts instead of replacement cost AND raising deductibles.  To make matters worse, other insurance companies are making these changes on your renewal without you noticing…until of course a claim happens!

Price is certainly important, but you never want to sacrifice coverage.  After all if you bought insurance on price alone you should just get the most lousy policy out there.  Most people want a balance between great coverage and pricing.

If you are a client of ours, you can rest easy knowing that we do a thorough analysis of your renewal to make sure you still have the best coverage and pricing available.

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What Exactly Is An Insurance Score???


An Insurance score uses the credit information from your credit report to assess whether you are more or less likely, compared to other consumers, to have insurance claims in the near future that will result in losses for the insurance company.

The percentages below reflect how important each of the general categories is in determining your score:

40% previous credit performance

30% current level of indebtedness

15% length of credit history

10% new credit/pursuit of new credit

5% types of credit used

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Notices From The BMV?


The Indiana BMV is mandated by law to require all individuals involved in an automobile accident to provide proof that they had insurance in place at the time of the accident.

The BMV will send a notice via snail mail within 45 days of the accident to ALL individuals involved in an accident.  When you get this notice simply email it to us at service@wenc-insurance.com or fax it to us at 288-5103.  We will handle the rest!

Have a SmartPhone?  Take a clear photo of the letter and email it to service@wenc-insurance.com.

 

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Loans and Insurance?


Whether it is your auto, home or business policy…you will get letters in the mail from your lender requesting your insurance information.  It doesn’t matter if you just switched to us or have been a client for a long time…this can happen, don’t panic! 

Why does this happen? 

Either the lender is not listed on your policy (and they need to be) or they need to update how they are listed on the policy (new mailing address, etc)

Solution to the problem!!! Email the letter to: service@wenc-insurance.com or fax it to: 288-5103.

We will work directly with the lender to make sure they have the proper paperwork they need.  Also we will make any corrections on how they need to be listed on your policy.

Every lender is different and every lender wants things done a certain way, part of the service we provide is to do this on your behalf.

If you are getting a new loan for either a car or property we take the same approach.  Give the lender our contact info and have them work directly with us.  We have found this saves our clients a lot of time and head ache.

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