Search found 106 matches
- Fri Nov 14, 2014 7:45 am
- Forum: Opinions
- Topic: Top 10 Insurance Myths - incorrect
- Replies: 3
- Views: 34757
Re: Top 10 Insurance Myths - incorrect
My friend's auto is in the shop for repairs. He borrows my auto. He crashes my auto. I do not have collision coverage on my auto. The myth is that his policy will cover my car. It is not a myth. If his policy has collision on any of his vehicles and his policy defines my vehicle as a temporary subst...
- Wed Nov 12, 2014 1:25 pm
- Forum: Opinions
- Topic: Top 10 Insurance Myths - incorrect
- Replies: 3
- Views: 34757
Top 10 Insurance Myths - incorrect
One of the myths involves someone borrowing your vehicle and crashing it. It is not a myth that their auto insurance will pay for your vehicle damages. The NY personal auto policy has (In the Insurance Agreement) a definition of Temporary Substitute Auto. In Part D: Coverage for Damage to Your Auto,...
- Fri May 23, 2014 10:38 am
- Forum: Opinions
- Topic: Military folks - transfer of auto insurance
- Replies: 0
- Views: 14668
Military folks - transfer of auto insurance
House Bill would let Military Personnel Retain Auto Insurance When They Are Transferred reads a recent headline. So a soldier from Georgia is transferred to New York. The soldier's current Georgia personal auto conforms with New York insurance requirements so the soldier can drive his car bearing a ...
- Wed Mar 12, 2014 12:01 pm
- Forum: Hard-to-Place Accounts
- Topic: Audit Premium Financing
- Replies: 5
- Views: 11762
Re: Audit Premium Financing
What your 'client' needs is a loan. Hope this isn't a 'triple whammy' which is 1) big audit premium, 2) renewal premium due, and 3) an endorsement to the already-issued-renewal increasing the basis of exposure (receipts, payroll, area, etc) to bring the renewal up-to-speed. These can be deadly! Once...
- Mon Jun 17, 2013 11:03 am
- Forum: Hard-to-Place Accounts
- Topic: Garagekeepers Coverage - Florida Account
- Replies: 4
- Views: 9805
Re: Garagekeepers Coverage - Florida Account
Let's imagine one of the car owners hires a lawyer and takes the auto garage to court. A judge declares the garage responsible (legally liable) for the damage/theft to the vehicle. Now does the carrier pay the claim? A court of law has declared the garage legally liable. I have seen this happen in N...
- Sat Apr 06, 2013 3:46 pm
- Forum: Opinions
- Topic: non compete clause
- Replies: 12
- Views: 54071
Good work - Farm Agent
Notice the first thing done was to consult an attorney. This 'weasel' made the intelligent and moral decision to play by the rules in CA. My advice is confirmed - get competent legfal advice and save yourself a load of problems. What could be simpler and more cost effective folks? Case closed.
- Thu Apr 04, 2013 10:45 am
- Forum: Opinions
- Topic: non compete clause
- Replies: 12
- Views: 54071
Competent Legal Advice is what you need
Find an attorney knowledgeable in contract law and pay to have him/her go over your non-compete clause contract. Then follow their advice as it will be worth a hundred times (or thousands of times) what you pay them. Do not attempt to practice 'contract law' yourself or listen to the well intentione...
- Wed Oct 24, 2012 11:49 am
- Forum: Opinions
- Topic: Do I need to schedule fine arts?
- Replies: 15
- Views: 27105
Re: Do I need to schedule fine arts?
I don't recall your inquiry asking anything about perils. Scheduling fine arts has nothing to do with perils. Depending on the product, fine arts coverage is provided on either a 'schedule' or 'blanket' basis. Refer to some specimen policies (or issued policies you have on file in your agency) that ...
- Fri Mar 23, 2012 6:13 am
- Forum: Opinions
- Topic: Lessor Risk liability vs tenant liability
- Replies: 5
- Views: 12935
Re: Lessor Risk liability vs tenant liability
Do your carriers require tenant liability for 'lessor's risk' policies? if so, this would be set forth in the underwriting guidelines and/or the insurance contract itself. By the insured not having the required underlying (tenant's) insurance in place it may be considered a material misrepresentatio...
- Sat Mar 10, 2012 9:48 am
- Forum: Hard-to-Place Accounts
- Topic: Farmers - Loss Runs - Fax NumbeR?
- Replies: 2
- Views: 10354
Re: Farmers - Loss Runs - Fax NumbeR?
Have the insured mail, email, or FAX a written request for loss runs to the address of the company shown on the declarations pages of the policies. A call to an associate who represents the carrier may yield you the info. You do have some fellow agents you can network with don't you? Usually a FAX r...
- Thu Feb 23, 2012 9:47 am
- Forum: Opinions
- Topic: claims question
- Replies: 5
- Views: 7338
Court decision re: liable
Even though an insured's policy may exclude coverage under property or liability, the claimant can go to court (even small claims court) and if the court deems the insured 'liable' for the damages, the carrier (at least in my experience in NY) must pay - up to the policy limits of course. That's wha...
- Thu Jan 05, 2012 12:35 pm
- Forum: Opinions
- Topic: Contingent Commissions question
- Replies: 1
- Views: 3598
Contingent Commissions question
Recently I read an article on Contingent Commissions in a national publication. It stated something similar to this: 'Knowing that best practices agencies rely heavily on contingent commissions...' I contacted the publication and the author and asked for proof to justify this statement. Having been ...
- Thu Sep 15, 2011 11:25 am
- Forum: Opinions
- Topic: Do you recommend bonds or crime insurance?
- Replies: 4
- Views: 7195
Do you recommend bonds or crime insurance?
Seems like every other day I read in our local newspapers or hear on the radio where some thief has embezzled/stolen thousands of dollars from either their employer or an entity such as a Little League association, fire company, or American legion Post, etc. These news articles never mention a bond ...
- Tue Aug 30, 2011 11:22 am
- Forum: Opinions
- Topic: Why Would an Agency Retain Trust Account Service?
- Replies: 16
- Views: 26445
Fiduciary Accounts
My agency maintains separate fiduciary accounts for each carrier (9) we have 'sweeps' for. This way one carrier cannot 'accidentally' oversweep and suck out premium $ owed to another carrier for whatever reason (NSF check from an insured maybe...) "But what about the costs of maintaining 9 sepa...
- Mon Aug 29, 2011 10:49 am
- Forum: Opinions
- Topic: Online Auto Insurance Quote Process
- Replies: 7
- Views: 9532
Re: protect your email
Well, mhutch69 here is the solution: get a 'junk' email at one or more of the free email places like gmail, etc. use the junk email address for experimenting, sending wacko posts to sites like this (the posts to the news artiucles used to be chock full of cutesy little names...), etc. When it become...