Wenclewicz Insurance Presents: Ask Wenc

Home Insurance Articles

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 … Continue reading

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 … Continue reading

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 … Continue reading

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 … Continue reading

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 … Continue reading

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

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 … Continue reading

How Much Will Adding An Alarm To House Help My Rate?

Many believe that by adding an alarm system it will significantly help their rate.  And that is true, but only to a certain extent.  By having an alarm system it will significantly reduce the chance of you having a theft claim which will help keep your rate from skyrocketing(theft is one of the worst claims you can have when it comes to affecting your future insurance rate)  But if you are already claim free, the alarm system discount is only a 5% discount. When you hear alarm companies advertise 10-30% discounts, they are referring to 10-30% off of the base rate, not your … Continue reading

Coverage D/Loss of Use

For a standard home or condo policy, this will cover your increased living expenses to stay somewhere else while your place is being repaired or rebuilt.  Of course the reason for your place not being livable must be a named peril in the policy(i.e. fire, tornado, etc).  This coverage will provide either a dollar amount or length of time(up to 24 months).  Be careful, a lot of companies only give you a time limit of 12 months to rebuild.  Seems like plenty right?  Wrong!  Especially with a tornado, if lots of homes get destroyed in a certain area there will be limited supplies … Continue reading

Why Should You Have A Personal Property Inventory?

The #1 reason is being prepared for a disaster! If you are affected by a fire, burglary, tornado or other loss, an inventory will provide you with the ability to remember and prove what you own(ed). A thorough written report-supported by a detailed album of photos-will help you remember your belongings. The insurance institute states that those with an inventory settle their claims faster and are able to maximize their settlement. We recommend two options: