Simply Explaining Insurance

What if you as a business owner are accused of something by an employee or ex employee for something that you didn’t do?  What if you are accused of sexual harassment? Or wrongful termination? Or discrimination? What if this disgruntled employee hires a lawyer?

According to a 2015 Hiscox study, 1 in 5 businesses of 500 employees or less, will face employment charges with an average cost to defend of $125,000.  This would be a huge hit to any small business.

What can a business owner do to protect themselves agains claims like these?  There is a coverage called EPLI (Employment Practices Liability Insurance), which covers claims alleging:

This is a coverage that may be included in your current general liability policy, or you can purchase one that is stand alone.  In any case, it might be a good time to get with your agent to review your policy to make sure you are adequately covered.  Listen to this episode for more details.

My Website

Music by Roger Clyne and the Peacemakers

Simply Explaining Insurance on ITunes

On Android use Podcast Addict and search for Simply Explaining Insurance.

The post How to protect you and your business if you are accused of sexual harassment. appeared first on Dietz Agency.

The post How to protect you and your business if you are accused of sexual harassment. appeared first on Dietz Agency.

Did you know statistically 1 out of every 8 drivers is uninsured?  There is a coverage called uninsured motorists that is available on your auto policy, but did you know that covers your medical bills?  What about your car?  How is that covered?  What if you have liability only on your vehicle? The answers lie within this short podcast.

My Website

Music by Roger Clyne and the Peacemakers

Simply Explaining Insurance on ITunes

On Android use Podcast Addict and search for Simply Explaining Insurance.

The post You were just hit by an uninsured motorist. Who pays for the repairs on your car? appeared first on Dietz Agency.

The post You were just hit by an uninsured motorist. Who pays for the repairs on your car? appeared first on Dietz Agency.

When you write an auto policy with an insurance carrier, the insurance company insures the vehicle for blue book value.  If you make any additions to the vehicle, it’s important to let your insurance company know in order to make sure everything is covered.

For example, if you add a cover to your truck.  It’s an aftermarket product that would not be covered in an accident or a break in, UNLESS you add it to your policy.  If you have any questions, you can call your agent to make sure your vehicle is covered properly.

My Website

Music by Roger Clyne and the Peacemakers

Simply Explaining Insurance on ITunes

On Android use Podcast Addict and search for Simply Explaining Insurance.

The post Is your entire truck covered on your auto policy? appeared first on Dietz Agency.

The post Is your entire truck covered on your auto policy? appeared first on Dietz Agency.

Let’s say you just bought a spanking brand new car.  It has all the new tech, all the bells and whistles and as your seat is warming up and you are figuring out how play a song on your radio, you rear end someone and total it.

You walk away unscathed other than your pride being bruised.  Your pocketbook may take a big hit though if you didn’t protect your loan.  If you totaled your new $40,000 car, it is worth less than that the moment you drive off the lot.

Let’s say you owe $39,000 on the car but when you total it, the bluebook value is $36,500.  Insurance companies cover vehicles for actual cash value and will reimburse you for the amount the car is worth.  In this case, you would be $2500 short.

There are a few ways to cover this gap through something called “gap coverage”.  You can buy standalone coverage through the dealer which they will offer you when you are signing that mountain of paperwork.

Or, you can call your trusty insurance agent (if you have one) and have gap coverage added to your policy.  It generally costs less than what you can get at the dealer and there is no additional paperwork or agreements to sign.

My Website

Music by Roger Clyne and the Peacemakers

Simply Explaining Insurance on ITunes

On Android use Podcast Addict and search for Simply Explaining Insurance.

The post Add gap insurance to your auto policy to save. appeared first on Dietz Agency.

The post Add gap insurance to your auto policy to save. appeared first on Dietz Agency.

This topic many don’t know about and many will not care about.  BUT, I have had a number of conversations in my agency over the past year revolving around this topic so it was time to chat about it.

What are OEM parts?  OEM stands for Original Equipment Manufacturer.  This is an endorsement you can add to your auto insurance policy (assuming it is offered.  Not all companies do) that will ensure that the parts put on your car while being repaired due to a covered loss, are from the company that built your car.

It ensures that your BMW will get BMW parts. Often, during the repair process after an accident, your car will get aftermarket parts put on.  This is not a bad thing.  In some cases, aftermarket parts are actually better than OEM parts.

If you have had an auto accident, odds are your car was fixed with aftermarket parts.  This helps keep the cost of insurance down.  If you want to make sure that your car gets OEM parts, call your agent and see if they can place that endorsement on your policy for an additional cost.

My Website

Music by Roger Clyne and the Peacemakers

Simply Explaining Insurance on ITunes

On Android use Podcast Addict and search for Simply Explaining Insurance.

The post Simply Explaining Insurance- OEM Parts appeared first on Dietz Agency.

The post Simply Explaining Insurance- OEM Parts appeared first on Dietz Agency.

I sat down with a friend recently so that she could share the story of the most difficult time of her life.  Lisa lost her husband after a brutal bout of cancer.  Dan was 49 years old.

Dan did a beautiful for Lisa years before.  He purchased a life insurance plan for her and it has been a crucial part of her healing process.  I really don’t want to write a lot on this, I just want Lisa to tell her story.  Find it below, or on Itunes.

Lisa’s blog

My Website

Music by Roger Clyne and the Peacemakers

Simply Explaining Insurance on ITunes

On Android use Podcast Addict and search for Simply Explaining Insurance.

The post “It gave me the time to grieve” appeared first on Dietz Agency.

The post “It gave me the time to grieve” appeared first on Dietz Agency.