CSI Blogs about Personal Insurance

Car Insurance Can Be Funny!

photo credit: mr_double_f

Here are three crazy stories:

• A driver claimed they were leaving for work one morning and drove into a school bus parked at the end of their drive. A claim was filed against the bus driver, since the bus was five minutes earlier than they had expected and therefore obviously at fault. (as told by English comedian Jasper Carrott)

• A woman meeting her husband, a Navy crewman who was coming into port that day, parked at the end of the slip where the submarine was due in to berth. There was an inexperienced ensign at the helm who overshot his landing and hit the end of the slip, breaking a section away and sending the car plunging into the water. Needless to say, those damages were on Uncle Sam! (as told at www.businessballs.com)

• A driver parked by the side of the road was relocated to Oz when a home fell off the back of the truck that was relocating it. Eventually the insurance company paid the claim, but only after confirming with the moving company that the car had, in fact, been totaled by a house (as told by English Comedian Jasper Carrott)

Here at Costello and Son, we offer the following options for your Car Insurance:

• Bodily Injury
• Medical or Personal Injury Protection
• Property Damage
• Collision
• Comprehensive
• Uninsured Motorist Coverage

Deciding exactly what type of coverage you need may be confusing, that’s why our insurance specialists are dedicated to helping you find the best auto insurance in California, as well as make you, and your unique needs, our top priority!

Please visit costelloandsons.com for more information, or call us at 415-257-2100!

What is Umbrella Insurance? Should I have it?

photo credit: Phillip Pessar 

Umbrella Insurance is basically added liability protection that goes beyond the limits of homeowners, auto, and watercraft insurance policies. By purchasing an umbrella insurance policy one can add millions in liability protection.

Exemplary Situation:

Suppose that you are driving home, not paying attention to the road, and hit someone walking. It was totally an accident, but you were not paying attention, and now this person has serious injuries. If the person sues, the standard liability on your auto policy will cover many of the costs involved. If the costs go beyond what your standard liability covers, they can go after your assets. Umbrella insurance adds a layer of protection between the costs accrued by the accident and your personal assets.

How Do I Get Umbrella Liability?

Specific and comprehensive coverage can be underwritten along with your Homeowners’ policy. We can secure custom policy language and specialized limits to insure your assets are well protected.

As part of our Homeowners application process, we will request detailed information to provide appropriate coverage limits. You can contact Moira McNeill at 415.257.2125 or email her at mmcneill@costelloandsons.com to find out more.

Worried your insurance policy won’t cover the cost of your jewelry? You’re probably right.

photo credit: Social Butterfly Jewellery

Many people do not purchase additional coverage for stolen jewelry because they believe that their home insurance policy has a provision that covers it. The truth is that the provisions in home insurance policies for stolen jewelry are very small. If there is a fire, explosion, or collapse of a house the full value of the jewelry is covered, but this is not usually the case. Theresa Lawless from Fireman’s Fund Insurance Company estimates that, “85% of insurance company payments related to jewelry are for theft and what the insurers call mysterious loss.” If you have a large amount of jewelry that is just being covered by a homeowner’s policy, you need to understand the risk you are taking.

Unless you live in a big city like New York, insurance rates are actually pretty cheap. According to a New York Times article by Joseph Treaster, “jewelry insurance typically costs $10 to $15 per $1,000 of coverage.”

To secure the broadest coverage available, consider valuable articles coverage. This type of insurance policy allows you to “itemize” your jewelry, so that each piece is separately described and individually valued. This way, if your jewelry is stolen or damaged, you have coverage for each item and not just a blanket “home contents” dollar limit. Having a replacement-cost appraisal of your collection can help you itemize your jewelry and select the appropriate amount of coverage.

Please call us at 415-257-2100 or visit our website for more information!

Reality Check: Joplin, Missouri

photo credit: Massachusetts Dept. of Environmental Protectio

Are you prepared for natural disasters? Are you aware of the potential risks that your current environment presents? It pays to be prepared. Just ask the residents of Joplin, Missouri who recently had to deal with a massive tornado. On June 1, 2011 the Springfield News-Leader reported that insurance claims have already been filed for 9,000 vehicles. To add insult to injury, the city estimates that about 18,000 vehicles were damaged or lost on the May 22nd tornado.

At Costello & Sons Insurance we strive to supply you with as many options as possible; thus enabling our comprehensive insurance strategies to provide you with the opportunity to custom build a policy that meets all of your auto insurance needs.

Our Comprehensive Liability coverage best applies to the situation described in Missouri. Even though California requires you to have Car Insurance, it is never a bad thing to review your policy.

• Bodily Injury Liability – covers injuries to others caused by the policyholder while operating an automobile.
• Medical or Personal Injury Protection – covers treatment of the driver and passengers of the policyholder’s car in the event of an accident.
• Property Damage Liability – covers damages caused to someone else’s property by the policyholder while operating an automobile.
• Collision – insures the policyholder from loss during a collision with another vehicle or object.
• Comprehensive – protection for the policyholder’s car from damage and loss resulting from incidents other than collision.
• Uninsured Motorist Coverage – covers medical treatment of the policyholder’s injuries in the event of a collision with an uninsured driver.

Please call us at 877-500-6997 or visit our website to find out more!

What Type of Risks is your Homeowner’s Insurance Policy Covering?

photo credit: niiicedave

Many people buy Homeowner’s Insurance without the knowledge of the specific coverage that would best suit their particular needs. There are different types of property and casualty insurance that people could benefit people with different demands. In terms of risk covered, there are two important categories; “named peril” and “all peril.”

• Named Peril
  • Relatively broad policy that specifically names “perils” that the policy covers

• All Peril
  • Broader policy that covers all risks except the ones specifically excluded. For example, flood, earthquake, nuclear accident, mudslide, etc.

Make sure you know what risks you are facing to determine which type of policy is best for you. Why pay more if you feel that you have adequate coverage? If you have any questions please contact us at 877-500-6997

Summer is on the Way! Make sure you’re covered!

photo credit: Jemingway

Memorial Day has often been called the unofficial start to summer. This is a time of vacation, relaxation, and travel. Although we don’t like to think about it, many of the activities we choose to participate in require insurance. There is nothing better than feeling secure about our families and our possessions. Many people choose to ignore summer time coverage but this could be a serious mistake. Here is a list of insurance options that you might be interested in:

• Renting a Home
• Renting a Car
• Motorcycle Insurance
• Boat Insurance
• Small Watercraft Insurance
• Insuring a Motor Home
• Life Insurance

Here are some common misconceptions that people may have:

• Adding a boat to my homeowner’s policy will provide adequate coverage
  This usually does not include sport liability, motor damage, towing expenses, or coverage for ice and freezing

• When I rent a summer home, the landlord is responsible for my damaged property
  Leaving your valued possessions in a rented home without renter’s insurance is dangerous. If something happens to your content’s within the house, you are not insured. When renting a summer house, speak with the landlord and assess the worth of your possessions. Once you have this figured out, you can decide which renter’s policy is right for you.

• I won’t be living in a flood zone for that long, so I don’t need flood insurance
  This is a risky statement. People that are traveling during the summer need to be aware of the threats they face in different areas. Flooding is the number one natural disaster in the United States.