No, it’s not the latest Hollywood movie about guys and their need for speed. For those of you who know me well, sarcasm is one of my most endearing traits! So as a follow up to Tim Leman’s New Year Safety blog, I thought it would be fun to share my top driving annoyances. While no one reading this is guilty of any of these driving violations, I’m sure we all can think of someone who is. Not surprising, many of these habits cause the majority of claims each year.

With winter fast approaching, and now is the time to properly safeguard your home from the harsh elements of this season. These steps can lessen your chances of a loss due to inclement weather.

In 2010, the National Fire Protection Association (NFPA) reported an estimated 16,800 home structure fires involving clothes dryers or washing machines. This resulted in 51 deaths, 380 injuries and $236 million in direct property damage. The leading cause of these fires involved clothes dryers (92%).

You’ve heard the commercials touting “name your price” for insurance or the promise of saving an average of 15% if you switch your policy. Sound tempting? What you don’t hear about is how the price or the savings is determined. Cutting costs usually involves cutting coverage or reading the fine print in what’s not covered. It is better to consider your “total cost of risk”. This means that saving $200 on your auto policy per year may sound like a good financial decision, but if your liability limits are not adequate, it could cost you thousands or hundreds of thousands on a claim that exceeds your coverage limits. The “cost” to you is not just an insurance premium or rate. Your future wages can be garnished or you may have to liquidate assets like selling your home just to pay for the settlement.

Now, the $200/year in extra premium is looking like a great value!

Last year, US congress passed the Biggert-Waters Act, calling on the Federal Emergency Management Agency (FEMA) and other agencies to make a number of changes to the way the current National Flood Insurance Plan operates. The act, which is commonly known as the Flood Insurance Reform Act, obliges insurance providers to amend rates to reflect true flood risk, thus making the program more financially stable.

Many employees drive company cars for their work-related duties. But what if the company car were your only car? Even as an employee of the company, it’s likely you are not listed on the company’s business auto policy.

So what happens when you borrow your neighbor’s car to run some errands on the weekend? This type of situation can leave you with serious gaps in coverage. Under a business auto policy, individuals using a borrowed auto for personal use are not covered, even if the policy covers hired or borrowed autos. The individual must be listed as an insured on the company’s business auto policy to have coverage.

Any owner of an antique or collector car knows the risk involved with simply taking your car out for a drive. Whether you’re hitting the road for fun or headed to an auto show, carrying these items with you wherever you go ensures a breakdown won’t keep you down.

Digital Power Station

Risk management isn’t limited to operations, finance, or within manufacturing facilities; there are risks to be aware of within physical office buildings and for office workers.

Tripping Hazards

Hunting accidents on vacant land can lead to a number of legal liability concerns. Homeowners with vacant land or farmland with exposures to third-party hunters should take a variety of measures to mitigate their exposure. Thus, consider the following recommendations if you own property with this exposure.

One of the most common questions for homeowners’ insurance coverage is the difference between market value and rebuild cost. The two are not directly related.

Insurance companies base your premium on the cost of rebuilding rather than the value of the home. Knowing how to differentiate between the two can make a difference in the amount you receive in the event of a disaster.