ATD Insurance

FLOOD INSURANCE:

• You are in control. Flood insurance claims are paid even if a disaster is not declared by the President.

• Between 20 and 25 percent of all claims paid by the NFIP are outside of Special Flood Hazard Areas

• There is no payback requirement

• Flood insurance policies are continuous, and are not non-renewed or cancelled for repeat losses.

• Flood insurance reimburses you for all covered losses up to $250,000 for homeowners and $500,000 for businesses.

• The average cost of a $100,000 flood policy is a little more than $400 annually, or just over one dollar per day. The cost of a $50,000 flood policy may be as low as $180 annually, depending on where you live, or less than 50 cents per day.

DISASTER ASSISTANCE:

• Most forms of federal disaster assistance require a Presidential declaration

• Federal disaster assistance declarations are awarded in less than 50% of flooding incidents

• The most typical form of a disaster assistance is a loan that must be repaid with interest.

• The duration of a Small Business Administration (SBA) disaster home loan is approximately 30 years.

• The average Individuals and Households Program award is about $4,000.

• Repayment on a $50,000 SBA disaster home loan is $240 a month or $2,880 annually at 4% interest.

.....Federal flood insurance does. Floods can happen anytime, anywhere. They cause anguish and destruction- physical, emotional, and financial. Especially when victims realize the damage isn't covered by their homeowners insurance policy.

Federal disaster assistance? It's not the answer either. Why? Because in most cases, the only aid disaster victims may qualify for is a loan, and that must be repaid - with interest!

Only Federal flood insurance reimburses you for flood damage to your property! With one annual premium, you protect your most important investment - your home and your finances.

For more information about the National Flood Insurance Program, please contact our agency.

How much money do you keep on hand for emergencies? How much jewelry do you own? Do you own any guns? These are all questions that we asked you when we first wrote your homeowners insurance. What has changed since then? All property policies contain limitations on certain types of property. Look for the section in your homeowners policy titled, "Special Limits on Certain Property."

An example of a limited property item would be money. The typical policy has the following limitation on this category:

Limit - $200 - Money, bank notes, bullion, coins and medals and other numismatic property and precious metals including platinum, gold and silver, but not goldware or silverware

In this case, the policy would limit recovery to only $200 after the application of your policy deductible. In some cases, this amount of recovery would barely scratch the surface of the actual loss.

An insurance policy is written to provide coverage for the average policyholder. Most of us do not own collections, or keep large amounts of cash at our homes, and we probably would not want to pay a premium that would provide open-ended coverage for such unique items. While the policy provides limited coverage for special types of property, some consumers require higher limits with broader coverage than provided in the basic policy.

For the collector or owner of unusual property items, there is a solution. It is possible to amend your homeowners policy, by endorsement, to provide special coverage for unique items, including property, that is subject to limitations in the homeowners policy.

Recently there has been an increase in the number of construction accidents that has prompted a special committee of the U.S. House of Representatives to launch a review of the federal agency in charge of ensuring workplace safety. The mission of this committee is to determine if the safety standards of the federal Occupational Safety and Health Administration are adequate and being followed.

Perhaps contributing to these workplace injuries, some resulting in death, is the need to move faster to build quickly and meet construction deadlines. U.S. Rep. Lynn Woolsey of California said, "It's taking its toll and it's killing or injuring our workers - all so some big buildings can get built quickly."

In Las Vegas alone, 10 construction workers died during a 17-month period while working on Las Vegas strip projects.

"The failure to adequately protect these workers is a direct result of an agency that doesn't dedicate enough resources to inspect most job sites nor the political will to hold employers accountable when they put workers at risk," said Aaron Albright, committee spokesman. "Our committee has seen similar patterns across the country."

Legislators want tougher penalties for employers who violate workplace safety rules, and have introduced legislation to increase fines and make it easier for workers to appeal rulings. The bill would also raise criminal penalties, making repeat workplace violations a felony punishable by up to 10 years in prison.

Clearly, the move here is to bring more employers into compliance to protect employees. We can expect closer scrutiny, both at the federal and state levels, in the future.

The Insurance Review

Which is the right policy to buy to cover your business? That is where our professional expertise becomes invaluable. Commercial Insurance comes in many forms, and buying the wrong policy could leave gaps in coverage. As a business owner, you should make it a standard practice to have an annual review of your insurance package.

Depending on the complexity of your operation, this process can range from a phone call to face-to-face meeting, including a facility inspection. Many times in the review process, we turn up changes in your operation that have occurred over the past year requiring special attention.

Without the opportunity to review your coverage with you, we might never know about operational changes that may require special coverage.

An annual review can address whether you have enough insurance to rebuild your buildings and replace your business personal contents including furniture, machinery, raw stock and finished inventory. Business contents could also include property of others in your custody. This non-owned property needs special coverage.

You know your operation better than most, and we need your help to properly categorize your assets and analyze your operational exposures for both property and liability losses. Another important consideration is the loss of business income that can occur as the result of a claim event.

During the rebuilding process that follows a claim, a business could lose out to competitors, so a quick resumption of operations is very important. Business interruption insurance can fill the gap. Make sure your limits are adequate to provide for a period of time that you believe it will take to return to normal operations. Trying to go cheap here is just bad business.

Business interruption insurance has several components that can be selected based on your business' needs. The first option is the ability to provide for direct loss of income.

Another exposure faced is contingent loss of income resulting when a business related to your operation has a covered loss that affects your ability to operate.

You could also be faced with extra expenses to continue operations at a temporary location or through agreements with other businesses, or the necessity to spend over and above your normal operating expenses to maintain operations.

Liability coverage is typically broken down into several basic categories including bodily injury. Your business could also face exposure from professional liability or a claim involving officers and directors that are not covered in the standard commercial liability policy.

Each year, hundreds of tornadoes with wind speeds as high as 300 mph touch down in the United States. While April is the most common month for tornadoes to occur, this year some states experienced tornado activity as early as January.

Standard property policies cover wind damage caused by tornadoes Tornado damage to automobiles is covered under the physical damage "other than collision" coverage section of the auto policy.

Helpful Tips....

Before a tornado occurs, take these certain actions:

• Keep a weather catastrophe kit handy containing a battery powered radio, drinking water, flashlights and a first-aid kit as the bare essentials.
• Have a cell phone or other means of portable communication.
• Take a complete inventory of your possessions. Visit www.knowyourstuff.org, for a free software program that makes keeping your inventory up-to-date simple and offers an option for storing that information off-site.
• Have an evacuation and contact plan.

If a tornado warning is issued for your area:

• Move vehicles inside to protect them from potential hail
• Move lawn furniture and outside equipment inside
• Take a position of protection inside your home or business
• If you are in a mobile home, leave and go to a nearby, safe shelter.
• If in a vehicle, get to safe shelter. If no shelter exists lie flat in a low spot.

After a tornado causes damage to your insured property:

• Make sure everyone is safe, and summon emergency help if needed.
• Be prepared to provide an inventory of your damaged property.
• If it is safe, you may want to take photos of the damaged property to speed along the claim process.
• If possible, protect undamaged and repairable property. Board up broken windows and cover leaking roofs, but only if it is reasonably safe to do so and you are physically able.