Gooood Morning!!! Its a lovely day for a cookie! (well, I guess thats every day!)

Today we have Chocolate Chip cookies for our friends. 

If you would like to make them at home, here is our recipe. 

So stop in for a few cookies, and while you are here, why not sit down and review your PA insurance policies?  We would love to make sure you are getting the best coverage possible.  Can’t make it in?  Give us a call at 215-757-0816. 

Six good reasons to have a personal umbrella

There is no question that the ownership and use of our autos present us with the greatest personal liability exposure. But our normal daily activities can expose us to the potential of a large liability claim that could threaten our personal assets.

One of the best ways to understand the need for a personal umbrella policy (PUP) is to review actual claim examples. Listed below are actual personal liability claims that illustrate the need for higher personal liability limits.

Loss #1

A couple hosted a pool party for their teenage children. They did not provide any alcohol, but it was brought by some of the guests and was available. After leaving the party, one of the guests was severely injured in an auto accident, and the injury was attributed to his consumption of alcohol. This case went to the Wisconsin Supreme Court which decided that anyone who sells or furnishes alcohol to a minor is responsible for the minor’s injuries as well as any injuries caused by the minor. The opinion of the court was that the homeowners should have prevented the consumption of alcohol by minors on their premises. Both the homeowners’ and personal umbrella policies responded to this claim.

Loss #2:

The insured hosted a party at his home. Among the guests was a family friend, who was also the insured’s financial advisor. The friend brought his wife, their 2-year-old child and their baby to the party. The insured gave them a jug of spring water to mix formula for the baby. The 2-year-old child also had a drink of the water. Shortly thereafter, both children became ill. The family left the party and took the children to the hospital. The hospital confiscated the water jug which was found to contain arsenic. An old label was found wrapped around the handle with the words “weed killer” printed on it. The insured had mistakenly given the jug, which was similar to the ones containing spring water, to the family. The baby died and the 2 year old survived after being in critical condition several days. The personal umbrella liability limit was paid.

Loss #3:

The insured’s 18-year-old son was driving his parents’ car to the store with his 19-year-old girlfriend. He left the roadway and hit a tree. The son told the police that another car cut him off, but there were no witnesses, and the girlfriend had no recollection of the accident. She was hospitalized for over a month with multiple fractures and internal injuries and received extensive physical therapy. The personal umbrella insurer settled with the girlfriend for the policy limit.

Loss #4:

An 18-year-old college student was struck by a fraternity paddle during initiation. He sustained facial fractures and blindness in his left eye. The fellow fraternity members and their families were sued. The court awarded $1,300,000.

Loss #5:

A 28-year-old engineer dove into a friend’s above-ground swimming pool, struck his head on the bottom and, as a result, became a quadriplegic. He sued both the homeowner and the pool manufacturer. The court found the homeowner to be 60 percent responsible and the pool manufacturer to be 40 percent responsible, and awarded $10,000,000.

Loss #6:

A babysitter left a 5-month-old infant unattended in a walker. The infant toppled the walker, struck her head on the floor and suffered brain damage. The parents of the infant sued the teenage babysitter and her parents. The court awarded the parents $11,000,000.

The above losses show the consequences of situations that can quickly exhaust the liability limits of the underlying policies.

For less than the cost of a cup of coffee a day, most folks can purchase a personal umbrella policy with a limit of $1,000,000, possibly $2,000,000 or even $5,000,000.

Why not allow us to quote this very important policy for you! Give us a call at 215-757-0816, or visit our website at www.websterins.com.

We get this question a lot.!!

There are many factors that affect the premium (cost) you will pay for insurance. The key to saving money and maximizing coverage is having good communication between yourself and your agent. Here are a few items to consider:

Your Driving Record

Your agent will ask routine questions about accidents and moving violations for any driver covered by the policy for the previous five years. If you have previous violations, or have been in an accident where you were determined to be at fault, there may be an adjustment to the premium to offset the perceived risk. That’s why it’s so important to get all the information you need to accurately compare policy quotes.

Where you Live

This may seem strange to you. Why would where you live effect how much you pay? Insurance companies know that increased traffic leads to more accidents; therefore living and driving in a city may result in more accidents than living and driving in a rural area. It doesn’t mean you need to move to a farm, but you definitely need to pay attention when driving. A good driving record is the best defense against increased premiums.

Gender and Age

That may not seem fair, but it’s based on statistics. History shows that males still have more accidents than females. So rule number one: as a group, the guys need to slow down and pay attention, because they are paying a little more for their insurance. Insurers also have statistics that show a higher number of claims for some age groups than for others.

Marital Status

Once again, this is based on statistics. Insurance company claims records show a lower rate of auto insurance claims among married policyholders. So, if you prefer to remain single, nothing beats a good driving record.

Prior Insurance Coverage

 If you’ve previously been canceled for non-payment of premiums, insurers want to know. If you’ve had insurance, your new insurer may ask your prior company about any claims you had. The key is to provide as much as information as you can to your agent. This will allow your agent to place you with the carrier (insurance company) who has the best rates for you. One carrier may be competitive on one type of policy, but not on another. Your agent should have access to multiple carriers in order to get you the right coverage and the lowest rates. Not all agents and all policies are created equal.

Mileage

The more miles you drive, the more opportunity for an accident. In other words, if you do a lot of driving, you may pay a slightly higher premium. Your agent will know which carrier is best for drivers who spend a lot of time behind the wheel.

Type of Vehicle

 If you want to drive an exotic car, you will pay more for the insurance. As the price of your vehicle goes up, so does the potential costs to repair it. The physical damage premium will be increased to cover the additional risk.

For a second opinion on your current policy, or a free quote visit our website at www.websterins.com.  Or call us at 215-757-0816.  We are here to assist you with all of your insurance needs.

As homeowners across the country watch the values of their homes plummet, they may start to think that their insurance premiums should follow suit. Many people think it’s simple logic:

Reduced market value equals reduced insurance premiums.

But many don’t know the difference between market value and replacement value or understand that they don’t often follow the same trend. In fact, even as home values continue their steep decline, the cost to rebuild a home continues to rise.

It’s now more important than ever to remind homeowners that their insurance premiums are not based on the current resale value of their homes, but on the cost to replace them.
Residential construction is a world-wide industry impacted not only by the cost of materials, but also the cost of new technology, new building codes and regulations, labor and materials. Home construction costs rose sharply after Hurricane Katrina in 2005, and more recently Hurricane Irene,  the demand for building materials, labor and energy outpaced the supply.

Prices continue to rise, according to recent statistics. Reed Construction Data estimates an increase of 4.2% on construction costs from 2007 to 2009, up from the 2.8% estimate from 2005 to 2007 for the same period. Marshall & Swift/Boeckh estimates a 1% to 2% increase on overall construction over the same time period, with higher increases in many metropolitan areas.

Several variables can contribute to the rise and fall of home prices, including: implications of the subprime lending crisis; foreclosure rates; new housing starts; housing shortages; and location. On the other hand, replacement cost variables can include material costs; fuel and energy costs; the cost and availability of skilled labor; and changing construction codes and standards.
When comparing the two, it’s important to note that market value variables are mostly forward-looking perspectives with the impact yet to be fully incurred or determined. In contrast, the replacement cost variables exemplify costs that are impacting the housing market almost immediately.

Key factors that have contributed to rising construction costs during 2009 include:

* Fluctuating energy costs over the past year;
* Rise in the cost of skilled labor;
* Increased overseas demand for raw materials and building products;
* Varying profit margins from general contractors and their subcontractors; and
* Rise in framing lumber prices and wallboard.

Calculating replacement cost is not based solely on builders’ costs, but also on many hidden costs that impact the industry.

Other factors: In a global market, the U.S. dollar is weak. Also, it’s harder for construction companies to get loans. Many builders are going out of business, so there is less competition and a lesser need to compete on prices. Recent natural disasters, such as hurricanes along coastal regions, floods in theMidwest and wildfires out West, have contributed to shortages in materials and made it more risky to underwrite homes. The trend to build homes with environmentally-friendly materials, low-impact processes and ultra-efficient heating and cooling technology has added to the cost of building and repairing homes.

If you would like a second opinion on how much insurance you should be carrying, please feel free to call us at 215-757-0816.  Or visit our website at www.websterins.com.

All vehicles 1981 and newer are assigned a 17 character “ID number”, based on the following format…

 1st character is country of Origin.

  2nd

3 Vehicle type or manufacturing division

4-8t h denotes  Vehicle information
(engine size, body style, fuel type, model, etc.)

 9th is the check digit assigned by the DOT (reflecting year of car) to assign the letter, The DOT uses Einstein’s Theory of the Check Digit. 

 10th is the year of Manufacture.   So, 1981=B, 1982=C, 1983=D.  2001 changes to a numeric system… 2001=1, 2002=2.  In 2010 it is back to a letter, 2010=A.

 DID YOU KNOW?  There are no O’s or I’s in Vin numbers only 1 and 0!  Also…Z is never used as the 10th digit and neither is U, so as not to be confused with V. 

 11th character is the Final Assembly Plant

 12th-17th is the actual serial number of that vehicle.

 Because of the comprehensive info provided from a vin#, Insurance companies are able to pull your vehicle’s engine and safety info to accurately apply discounts.

The locations of vehicle identification numbers (VIN) vary but the following are the common places to find them:

Firewall of the vehicle
Radiator Support Bracket
Dash by windshield
Left hand inner wheel arch
Steering column
Guarantee & Maintenance Book
Machined Pad on front of engine
Drivers door or post on passenger side
Component parts as listed above -e.g.- engine, frame, etc.

Later model years most common locations of the VIN

Left instrumentation panel
Dash plate by window
Drivers door or post
Firewall

When you purchase a vehicle, check the VIN yourself against the bill of sale. Remember, the dealer’s title clerk has to type those 17 digits, and typo’s can occur. Besides the fact that there is never an alpha “O”, “Q”, or “I” in a VIN. Remember that an “S” can look like a “5″ when it is written down and transposed. Your cooperation will help eliminate errors reported to your state DOT. Most insurance agency’s have a reliable VIN check computer program, that will alert the agent to an incorrect VIN, including the 9th digit Check Digit. There are also several online services such as CarFax and Free VIN Check available to check VIN’s and your vehicle’s history. CarFax and Free VIN Check offer a free VIN check, and the report will tell you if there are potential problems with the VIN. You may then purchase the report for approximatley $15.00.

 Isn’t that interesting?  So are our rates!  If you find our blog to be of interest to you ,perhaps call us  at 215-757-0816 for some rates on your PA Auto insurance!