DeKok Insurance Group, Inc.

507-226-8121 [email protected]

Attractive Nuisances

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What is an Attractive Nuisance?

An attractive nuisance is something that is so interesting that it would entice a child into entering another’s property. For instance, many courts require that the object be man-made and many require that you “maintain” the nuisance in order to be liable. This would mean that ponds or lakes are generally not attractive nuisances.

Some of the typical attractive nuisances include:

  • Swimming pools and fountains
  • Machinery (lawnmowers, weed trimmers, etc.)
  • Wells and tunnels
  • Dangerous animals
  • Paths and stairs
  • Construction materials
  • Trampolines
  • Empty buildings

How can you protect yourself from liability?

Taking some basic actions to prevent injury goes a long way toward avoiding liability. Courts usually punish people who didn’t seem to care or put any effort into encouraging safety. In short, you should do whatever it takes to prevent a child’s access to the nuisance.

If you have any questions about attractive nuisances, please feel free to call or email me.

Jon

[email protected]

phone  507-226-8121

DeKok Insurance Group, Inc. Referral Program: When you tell your family and friends about your positive experience with my agency, and they call for a quote, I’ll send YOU a $20 gift card.

 

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Better Coverage

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One of the goals I have as an independent insurance agent is to offer better coverage than you now have and do it at a better rate.

What do I mean by better coverage? Depending on your needs, it may be higher limits of coverage, or it may be the policy we offer has a broader and more comprehensive range of coverage’s.

For instance higher limits of coverage on an auto insurance policy may be that your current limits for Bodily Injury liability are at $100,000 per person – $300,000 per occurrence. In most cases, I am able to offer a substantially higher limit for a small increase. This increased limit could be $250,000 each person – $500,000 per occurrence, or as high as $1,000,000. When it comes to a serious claim, this change could make a huge difference in your life.

An example of broader coverage would be a homeowners policy including identity theft coverage, or special form coverage (all risk of physical damage) on your personal property instead of  “named perils” coverage.  We can also include increased building limits coverage at 25, 50, or 100 percent. Meaning if your dwelling limit was $200,000 and it took more than that to replace it, that $200,000 limit would be increased by the percent you have ($200,000 X 125 percent), ect..

Another type of better coverage could be disappearing  deductibles.  One of the companies I write motorcycle insurance through includes this feature (if you have no comprehensive or collision loss, the deductible is reduced by 25 percent per year).

This list of better coverage’s could go on and on, but you get the idea. Better coverage at better prices.

If you would like to see what we can do for you, please feel free to call 507-226-8121, or email me at [email protected].

Jon

DeKok Insurance Group, Inc.

[email protected]

507-226-8121

Are Your Insurance Rates on the Rise?

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Don’t you hate it when your insurance rates go up?  I do too!  Being an independent insurance agent helps, in that I can shop several companies for a better rate, and most of the time find one, but not always due to several factors.

More about that in another blog.

Getting back to rate increases. It makes sense to see your rates increase some, after all, some of the things that make your rates what they are, are increasing in cost (car repairs,  medical costs, lumber, materials, labor, etc.). However, what doesn’t make a lot of sense is when you haven’t had any losses, and your rates go up 40% or more.

All insurance companies try to anticipate what their losses will be each year, in 5 years, etc. in order to set their rates. The goal is to collect enough premium dollars to pay for the losses, pay their expenses, set aside money in reserves to take care of unexpected losses, and make a profit. Insurance companies are a business and should make a profit in order to stay in business and motivate growth.

There are some other things that come into play when looking at several different insurance companies rates. One company may be doing business in the whole country, and some are only doing business in one or more States. This can have an impact on that company’s specific rates since some States are more prone to different types of hazards (Wind storms, tornados, hurricanes, fires). For instance, the Mid West has had a higher than the normal amount of wind storms in the last five years, causing rates to increase on most homeowner’s insurance policies (roof damage, etc.).  Another factor is underwriting (an insurance company’s rules to accept business). Each company accepts new clients based on rules they feel will keep them profitable. Some of these are based on the client, and some are based on the property to be insured.

Some companies have been surprised by the amount of losses they find themselves paying due to an unexpected number of storms, and other losses. When this happens, they will try to tighten up their underwriting rules, and raise their rates to get back to their comfort zone.

I don’t necessarily hate a rate increase when it is  needed, but what I do dislike an awful lot is when a company panics, and jacks their rates up 40% or more or takes other drastic immediate moves that are detrimental to their clients.

If your insurance company has raised your rates in a panic kind of way, or if you would just like to see what I can do for you, please feel free to call (507-226-8121) or email me at [email protected] for a comparison.

Jon

[email protected]

507-226-8121

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Renting a Car? How Are You Insured?

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Confident businessman undersign a car contract outdoors

Have you or your family flown somewhere for vacation, like Florida, California, or Hawaii? You are picking up your rental car, and the rental agency’s service person is asking you to purchase insurance for the rental car. Do you really need to purchase their extra insurance?

The State  of Minnesota has addressed this issue.  In short, if you have a personal vehicle insured in Minnesota, and you rent a vehicle, your current personal auto insurance policy will cover it anywhere in the United States. Even if you have only one vehicle insured and it is covered for liability only. The rented vehicle will be fully covered since coverage for damage to the vehicle extends from your personal auto’s Property damage liability coverage.

Here is the statement the State of Minnesota requites rental car companies to attach to their rental contracts  (65B.49, 2011 Minnesota Statutes).

“Under Minnesota law, a personal automobile insurance policy must: (1) cover the rental of this motor vehicle against damage to the vehicle and against loss of use of the vehicle; and (2) extend the policy’s basic economic loss benefits, residual liability insurance, and uninsured and underinsured motorist coverages to the operation or use of a rented motor vehicle. Therefore, purchase of any collision damage waiver or similar insurance effected in this rental contract is not necessary. In addition, purchase of any additional liability insurance is not necessary if your policy was issued in Minnesota unless you wish to have coverage for liability that exceeds the amount specified in your personal automobile insurance policy.”

If you have any questions concerning insurance coverage for a vehicle you are renting, please feel free to call 507-226-8121 or email me at [email protected].

Jon

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Personal Property Coverage

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Homeowners policies include coverage for personal property like clothes, furniture, yard maintenance equipment, etc.  Typically this personal property is covered on a named perils basis (fire, theft, est.) and a replacement cost basis (replaced with new).

That sounds good so far, right?  However, most policies also limit coverage on specific types of personal property such as – jewelry, fine arts, silverware, furs, guns, etc. For instance, you may have $10,000 worth of jewelry, and your basic homeowners policy limits it to $3,000.  If you had a loss, you might be a little unhappy.

Most companies offer a “Personal Articles Floater” endorsement that allows you to schedule the specific higher valued items. This endorsement normally gives “all risk” type coverage with no deductible. The cost is usually between 30 cents to 90 cents per $100 of coverage per year.

If you have one or more of these higher valued items, check your policy to see what the current limits are or feel free to call or email me. I will be happy to discuss this or any insurance needs you have.  507-226-8121

Jon

[email protected]

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