When discussing life insurance with my clients, lots of people tell me, “Kris, I have life insurance at work, so I am all set.”
While I am truly SUPER HAPPY that you have some life insurance, there are a couple of things to consider:
What happens when you no longer have that job? You may plan to retire from the company you are working for now, but I think 2020 has shown us that your exit may not be within your control! You may be laid off or terminated through no fault of your own.
What if you are injured in a car accident and can no longer perform your normal job duties? It would be nice if your company would still provide life insurance just because you were a great employee, but we know that isn’t going to happen.
Let’s say you make it to retirement age at your company. What happens to your life insurance policy at age 65? Bye-bye. Now you are scrambling for insurance when you are older and less healthy, and have a fixed income. How are you going to afford a life insurance policy at this stage of the game?
How can you be sure you provide for your family if you aren’t here?
Buy a life insurance policy that isn’t tied to your employment. I advise clients to buy a policy that is their own, with no employment strings attached. Keep the one at work as your extra “icing on the cake” policy. That way, when/if you are no longer employed, you still have something in place.
Have a combo of term/permanent insurance. This can be a very affordable way to have lots of life insurance during the stages of your life when you have lots of bills – a mortgage, car payments, college tuition, etc. Then taper off to one last policy that will help your family pay for your final expenses – a traditional funeral, or maybe a big send-off party! It’s up to you.
There are lots of great options you can check out. Some don’t even require a medical exam! You can’t get much more convenient than that.
Click on the “get a life insurance quote” button on the life insurance tab, and let’s make sure we get your family income protected!
For more information here are some additional sources you can check out.
Your engagement ring is more than just a piece of jewelry. It’s a reminder that you’ve found your person and you’re ready to build a life together.
But on the practical side, an engagement ring is a big financial investment. Even if you’re careful, life has a way of serving up surprises. Your ring could slide down the kitchen sink while washing dishes… get swept away in the waves at the beach… get stolen… or even be eaten by the family dog. (Trust us – we’ve seen it all.)
Here’s the good news: Personal valuables insurance from Erie Insurance is designed to protect those expensive, hard-to-replace items like your engagement ring.
ENGAGEMENT RING INSURANCE: 4 COMMON QUESTIONS
Is my ring covered under my homeowners or renters insurance?
That depends on how much it’s worth. In most cases, standard homeowners and renters insurance only cover theft of jewelry to a specific dollar amount – that’s known as the “sublimit.” At ERIE, the sublimit for lost or stolen jewelry is $3,000. This covers any single piece of jewelry and the total amount lost or stolen.
However, many engagement rings are worth more than $3,000. According to The Knot’s 2017 Real Weddings study, the average couple spends $6,351 on a new engagement ring (up 25% from $5,095 in 2011).
With that in mind, it’s a smart decision to consider insuring your engagement ring on its own. (In insurance lingo, this is known as “scheduling.”) When you schedule a piece of jewelry, such as an engagement ring, you can insure your jewelry based on its cost or appraised value, rather than limiting coverage to the $3,000 sublimit associated with a homeowners or renters policy.
How much does it cost to insure an engagement ring?
On average, ring insurance costs $1-2 for every $100 your ring is worth. That means an insurance policy for a $5,000 ring would typically cost around $50-100 per year.
When it comes to cost, ERIE gives you options. You can save money on your premium by choosing from a range of deductibles – that’s the amount of money you’d be willing to pay out of pocket toward an insured loss. Or, you can opt to have no deductible at all (and pay a little more in premium). It all depends on your personal preference and financial situation.
Should I get my ring appraised?
Always save the receipt for your ring and any appraisals you’ve had done on it. This can give you an idea of how much you should insure your ring for, as well as document any unique identifiers for your ring if it’s ever lost or stolen. An appraisal will typically look at the ring’s stone shape and quality (measured by carat weight, color, cut and clarity); metal type and fineness; and any identifying marks, such as an engraved serial or certification number.
Generally speaking: If your ring is worth less than $7,000 and/or newer than seven years old, then you don’t need to get it appraised.
However, fine jewelry usually appreciates in value over time, so reappraise your ring periodically after that seven-year mark to make sure you’re still insuring it for the right amount.
Do I need to clean or inspect my ring?
Losing a ring – or losing a stone from the setting – is a more common reason for filing an insurance claim than having the ring stolen. Many times, accidents can be prevented by having your ring properly cleaned and inspected. A jewelry professional can tell if the prongs are getting loose and help with small repairs before it becomes a bigger problem.
Your Erie Insurance policy is our pledge to be there when you need us. You can sleep better at night knowing we’re there to protect everything that matters most. Request a quote for personal valuables insurance or reach out to Castle Insurance to learn more.
As an insurance agent, my #1 goal is to assist families and businesses in the case of a claim. That’s what insurance is for: to put your family and your possessions back as they were before the claim.
In dealing with tons of families over the past several years with home owner’s claims, losses, injuries, and accidents, I’ve learned that accident prevention is so much better than dealing with the aftermath of a loss. Your grandma was right. ” An ounce of prevention is worth a pound of cure”.
Here are a few items to check in your home to head off a claim situation:
Check batteries in your safety systems and alarms in your home. Your smoke detector and carbon monoxide detector are a couple alarms that you should check often.
How about your furnace filter? Changing it often not only helps with the air quality in your home, but helps keep your furnace working safely.
It would be good idea to check your fire extinguisher’s expiration date and be sure it is current. Don’t have one? Get one! A good rule of thumb is to place one in the kitchen, one in the garage and on each floor of your home if you really want to be extra cautious.
Does your home security system run on batteries? Most are hard-wired, but if you have an older system, take a quick moment and verify the batteries are working properly.
As always, if you have specific questions about your insurance policy, contact your agent. I am always happy to help as well.
Even in the midst of all of the crazy Covid stuff, most of us can still find reasons to be thankful. I hope you and your family are able to find ways to connect and continue on with your Christmas traditions.
At Castle Insurance, we are thankful for our clients and those we have worked with this year. It’s been a wild ride here too, but again, we have so many reasons to be thankful!
All the best for a very Merry Christmas and a Happy New Year!
Winter weather is coming into play now. We had some very warm temperatures a few weeks ago here in Central Kentucky, but I think we’ll have to wait until Spring for the 60 degree days again.
Be extra cautious over the next few months! Snowy and icy conditions are hazardous!
Put your cell phone away! This should be your normal for every driving trip, no matter the season, but it is especially important in the winter months.
If you have been trying to squeeze out a few more miles from your tires, now is the time to get new ones. You want to have the best tread on your tires at this time of year for sure!
Know how to use anti-lock brakes properly for the weather conditions you are driving in.
Keep an emergency kit in your car, just in case.
Slow down! Slow down! Slow down!
Don’t tailgate. Keep more distance in between you and other cars on the road, especially the one in front of you.
Here are a few more articles you can read for more information and safety tips.
By now, most of us have our homes decorated with many family heirlooms and possibly even some new items. Lots of homes have Christmas trees as part of the holiday trimmings.
If you have a fresh tree, be vigilant about keeping it watered! When we get super busy, this is one chore that can be forgotten, but it is imperative that you keep it top of mind. Set a reminder on your phone for every other day or so. A few minutes of watering can help keep your tree from becoming kindling.
You want to be aware of critters in your tree too, but I think that has already been addressed in a movie or two!
Also, pay attention to the lovely holiday scented candles that are so popular this time of year. Keep them clear of drapes and curtains, tablecloths and children and pets. Let’s keep all fires in the fireplace where they can keep us warm and cozy.
Click on the link below to be directed toNational Fire Protection Organization’s site. You can also view a video showing how quickly your tree can be engulfed in flames as well as more safety tips.
by Abby Badach Doyle on November 20, 2020 (Erie Insurance)
Flashy commercials. Doorbuster deals. It’s holiday shopping season again – and if you own a local business, competition from big box stores can be fierce.
This year, though, the COVID-19 pandemic has thrown a wrench into… well, just about everything. And that includes consumers’ holiday shopping plans.
A recent survey from SYKES found that 76% of respondents plan to avoid crowded malls this holiday season. What’s more, 1 in 5 people are intent on supporting local businesses more than the big guys.
Whether you’re a retailer, service provider or B2B – the first step is making your business top of mind.
Need inspiration? Here’s how to get people to think of your business when they shop local for the holidays.
Discounts, Deals and Giveaways
Offer a coupon: Your customers won’t expect you to slash prices like the big box stores, but a modest percent-off can be a smart gesture to get folks in the door.
Donation discount: Offer a coupon, bonus gift or free upgrade for customers who bring in an item to donate to a charity of your choice.
Gift card promotion: Perfect for stocking stuffers! Offer a free gift card in a smaller amount for those who buy a larger one – say, a free $10 card for every $50 in gift cards purchased, or $25 for every $100.
Ask for referrals: Have your satisfied customers do the word-of-mouth marketing for you. Reach out to your customer list via email, text or phone. Then, offer a limited-time, special holiday rate for those who buy or book with you by referral.
Host a contest: Everyone loves winning prizes! Host a fun and interactive promotion to win a gift basket, free service or cash prize. Whether it’s 12 days of trivia; guess the gumdrops in the jar; or a holiday decorating photo contest – get creative, and get your customers involved.
Start a loyalty program: Launch a punch card or points system to reward customers who keep coming back. Even after the holidays are over, they can reap rewards all year long.
Go Digital
Website, local listings and social media: Don’t forget the basics! Make sure your overall digital presence reflects any changes in hours, services or ongoing promotions for the holidays.
Contact-free purchase options: During COVID-19, many customers are looking for ways to reduce exposure. Consider offering touchless payment or an online store (even with limited inventory). Even if it’s just for the holidays, free curbside pickup or local delivery in a small radius around your store can build customer loyalty, too.
Use relevant hashtags: Hashtags make your social media posts more visible by joining a larger conversation. National “buy local” campaigns include #ShopSmall and #SmallBizSat. See if your local city, chamber of commerce or shopping plaza has a hashtag for local conversations, too.
Spread Holiday Cheer
Send holiday greetings: Reach out to current customers or prospects on your contact list with a festive postcard, greeting card or e-card to stay top of mind.
Make your products gift-able: Package your best-selling products into ready-made baskets for easy gifting. Couple that with a “gift guide” roundup highlighting products on your website or social media. Not a retailer? Offer gift cards or certificates for your services in festive packaging.
Start a donation drive: Make your business a drop-off location for donations to a local food bank, animal shelter, Toys for Tots or other local charity. (Bonus: A donation drop-off makes for a great photo op or local news story after the fact, too.)
Think Local
Buddy up: Double your reach by collaborating with another local shop. Get creative! For example – a restaurant could partner with a local florist to offer add-on arrangements for holiday takeout meals; or a day spa could sell a limited-edition scent of a locally made candle. Don’t be afraid to think outside your industry if you’re both marketing to a similar clientele.
Check with local leaders: See if you can tap into anything planned by your city or local chamber of commerce, such as special events or a local shopping guide.
Host an event: Generate buzz with a socially distant sidewalk sale, holiday art show or light display. Keep COVID-19 health and safety guidance in mind, of course – or make it a virtual event through social media or video conferencing.
Your local ERIE agent knows small business because they are a small business. If you haven’t had your coverage reviewed recently, now is a great time to check in before year’s end.
Recently, I was a featured member in a FB group for working mom’s here in Lexington. I thought it might be helpful to repost here as well. It is so important for us to support each other and offer advice and mentorship to other moms in our community!
From FB: Happy Working Woman Wednesday! On Wednesdays we highlight a business from our business directory. If you’d like featured, send a message to Tarra!
1. Tell us about your business – i.e. what is your product/service?
I own an independent insurance agency and sell home, auto, life, and business insurance.
2. What has been your biggest struggle as a working mother? Is there a specific story that you can recall that demonstrates this?
One of the best parts of my job is the flexibility! As long as I have internet and a phone, I can work. While this makes it easy to arrange my work schedule around things happening at home, it also makes it difficult to just put work down and be present. This was such a blessing this summer as I was able to stay in a relative’s vacation home with a pool for 2 weeks and still get my job done. However, I feel lots of guilt when I am working at night or on the weekend and my daughter keeps asking me “when I’ll be done” and “can we watch a movie without your laptop present?”. As working moms, we feel guilt at home about our jobs and guilt at work about our kids and homes!
3. What advice would you give to other women who want to start their own business?
My advice to other moms thinking about starting a business would be the following:
-Do your research up front to be sure there is a market for the product or service you want to sell.
Brainstorm ideas for a new business
-Be sure you think about all the negative things that can happen and have a plan to avoid those issues altogether or to mitigate the negative aspects on your new business and home life and finances. Starting a new business can be very exciting, but it’s important to think about the “what ifs?”.
Think about plan b, plan c, plan d!
-Have a mentor! This is HUGE! Find a woman in business that you trust and that will spend time with you answering questions and providing support. This is even more important if you don’t have a support system of a spouse or other family members.
Women helping other women to be successful
-Take a risk! If you have made a plan, done your due-diligence, and have planned for the unexpected, GO FOR IT! Pack your parachute well and jump off the cliff!
On a recent trip up I-75, I passed about a dozen deer on the side of the road. If you have struck a deer with your car, you know it can cause thousands of dollars of damages to your vehicle, not to mention injuries to you and passengers in your car.
Check out some tips from one of our best insurance carriers, Erie Insurance. Some great ideas here!
If you would like more information about Erie Insurance, or any of the other carriers we represent, just give Castle Insurance a call 502-603-0397 or email me at kris@castleinsuranceky.com.
As the owner of an insurance agency, you can imagine I have been exposed to and assisted with many car accidents and car accident claims!
One of the top questions I’ve received is regarding a police report with an accident. Are you required to get a police report at the scene of the crime? If you don’t, how does that impact your insurance claim?
I’ve learned A LOT about the responsibility of the police and sheriff office’s that respond to the scene of a car accident. Here are a few of my observations.
If you are in an accident that has caused injury or death to anyone, such as a passenger in a vehicle, a pedestrian, or someone on a motorcycle or bike, you must obtain a police report. This is the law. If you are involved in a little fender-bender in a parking lot, with minimal damage and no injuries, you have the option to file an accident report with the police after the fact.
The biggest misconception I have found is that the officer that arrives on the scene is not there to determine who is at fault in the accident. Actually, they are there primarily to take down statements of those involved or witnesses at the scene. They will also note road and weather conditions, and note if any drivers appear to be impaired. The officer does not place blame or determine liability or fault. The insurance adjusters are tasked to determine these issues and what carrier will be responsible to pay for injuries and physical damage to vehicles and property involved.
If you are in an accident without injuries and with very limited property damage, here are a couple steps to keep in mind:
ALWAYS GET THE OTHER DRIVER(S) INSURANCE INFORMATION at the scene before you leave.
Take pictures and/or videos of the damage to your car and the other car(s) involved in the accident. If there is damage to other property, such as a guardrail, building, etc., document that damage as well.
Contact your insurance agent and find out the best way to take care of the damage to your vehicle.
Remember, you always have the option to have an officer come to the scene and file the report at the time of the accident.
Here are a couple of links that may assist you with further questions:
1.Kentucky law (KRS 189.635(4)) will provide you with additional details and requirements.
2. The Civilian Collision Report form can be found on the Kentucky State Police website.
The short answer is “YES”! We have several clients that have the more expensive vehicles insured with Castle Insurance. No matter if you prefer German imports or a car made right here in the Bluegrass, Castle Insurance can write a policy for you.
2014 BMW M6 Photo used by permission (one of our client’s vehicles)
I’d like to invite you to read an article from one of our clients. He is a member of the Bluegrass Region Porsche Club of America and the editor of their monthly magazine.
Bluegrass Region Porsche Club of America – The Editor’s Desk
by Kevin Vrbanac – published in August 2020
BASED ON THIS month’s content, it looks like the Bluegrass Region decided it was time to get out and drive in the month of July. And I don’t know about you, but that makes me extremely happy. If there’s one thing I love to see, it’s our members and their Porsche’s in their natural habitat. Whether its on the back roads or the race track, these cars are made to be driven. Actually, they deserve to be driven. So don’t deprive your car of it’s purpose! Instead, follow the lead of the Bluegrass Region Members who contributed to this month’s Rumble and get out there and drive!
As you already know, our Monthly Cars & Coffee and Socials are back in full swing, albeit with masks and social distancing. If you weren’t able to make it last month, our events chair, Larry Dukes, takes us through what you may have missed at our recent event at Hall’s on the River and our July C&C. As crazy as it sounds, fall is right around the corner, so make sure you’re enjoying these events while the weather is still favorable for us. The Board is staying close to local regulations and we’re doing everything we can to keep our members safe. Check out the calendar for upcoming events, but we’ll be hosting our monthly Social and C&C for the foreseeable future.
Next up is a story that I’m particularly excited about, because it’s all about my recent journey to Road Atlanta for SCCA’s Track Night in America. Region Member Gregg Morton Jr, Region Sponsor Steve Castle (of Castle Insurance) and I headed down to Georgia last month to check out this event, and more importantly, check this track off of our bucket lists. Read on to hear all about my personal experience, and to learn more about Track Night, which is a great event for anyone who is looking to get into track days, but isn’t quite sure where to start.
You may have noticed that I referenced a new sponsor, and you’ll see a new ad in the Rumble, so I’d like to formally welcome my good friends at Castle Insurance to the PCA family! Without getting in too deep, they’ve taken excellent care of me and my cars for the past few years and I’d happily recommend them to anyone out there. And that’s not just because they used my car in their advertisement!
Switching gears, Region Member Rich Barsalona takes us through a recent impromptu Saturday drive with a few other members. Rich outlines a fantastic route that includes one of my all time favorite roads in the area, and walks through how to host a small, unofficial event while still complying with all the recent Covid regulations. My recommendation—read the article, call up some friends and go replicate his adventure. It’s a great way to spend a few hours on a Saturday or Sunday.
Finally, Region Member Bill Meckley returns to his home track of Watkins Glen as an instructor at a recent high performance driving event. And luckily for us, his friend Lee Turner was there with his camera to provide some great photos of the experience as well.
So if you like 987.2 Base Cayman’s on racetracks, have I got an issue for you! But in all seriousness, if you take anything away from this one, it’s to get out and enjoy your Porsche in whatever way you see fit!
Thanks to Kevin for the use of his photo of his mint-condition 2009 Porsche Cayman.
For more information about the local Porsche club, check out the link below.
What was your favorite Halloween costume growing up? Maybe you remember a favorite costume from one of your kids, perhaps one that you spend lots of time working on to make it really special for them?
While you may think the number one trick to a safe Halloween is having plenty of candy to pass out so your house doesn’t get egged and you don’t wake up to rolls and rolls of tp in your trees, if you are a homeowner you have a little more due diligence to do before October 31.
It’s costumes and candy – what can go wrong?
Keep the following in mind:
If you have pets, keep them shut up in a room, for their safety, as well as that of your visitors! One of the top homeowner’s claims is dog bites. With all the excitement and all the strangers at your house at night, many dogs can feel anxious and want to protect you. Please be sure they are crated or shut up in a bedroom. This is so important! Your normally friendly and mild-mannered dog can behave in a way that is uncharacteristic and hurt someone. Take no chances!
Be sure your porch lights and any other exterior lights are on. Replace any burned out or dim bulbs.
The weather can be a factor on Halloween too. If it’s wet or icy outside, be sure you have treated your sidewalk, steps and porch. Clear any leaves away. A slip and fall claim can be very traumatizing and expensive, especially if a child is hurt. It’s best to be proactive and keep the fun going!
Scary decorations are a big part of the fun! Ensure extension cords and other parts are not a tripping hazard. Try to think about what your display looks like from a small child’s point of view and make necessary changes as needed for safety.
Of course, be mindful of Covid19-friendly ways to distribute candy and participate in the holiday. Check your local government websites for recommendations. See the link below.
https://govstatus.egov.com/kycovid19
https://bit.ly/3dFhxJb
The less claims your home owner’s insurance company pays out, the lower everyone’s premiums will be in the future.
Now that the weather is getting chilly, and we are bundled up at home even more, a lovely candle burning can be cozy and smell delightful! Can candles really cause house fires?
Being safe with candles may seem like a no-brainer. However, according to the National Fire Protection Association, from 2014-2018, U.S. fire departments responded to an estimated 7,610 home structure fires that were started by candles per year. These fires caused an annual average of 81 deaths, 677 injuries and $278 million in direct property damage.
Please see the infograph below from the National Candle Association for some candle safety tips.
Insurance agents sell insurance, right? At the very least, your insurance agent should be able to educate you on what you need regarding insurance coverages and policies and also be a risk consultant. We can all agree on that. But is it enough?
Think about the other ways your insurance agent can benefit your shared community as well. Is your agent actively giving to charitable organizations? Is your agent mentoring other business owners? Is your agent taking classes about insurance and other business topics?
I imagine you are like me in your desire to support local businesses. I like to spend my money with businesses that are owned and managed by good people that are trying to do good things. I like to see owners giving their time and resources in the communities in which they live and work. I like to see them participating in continuing education classes and professional development opportunities.
Personally, I want to be sure I am the best insurance agent and business owner I can be! With this in mind, I signed up for Leadership Central Kentucky, a program through Commerce Lexington that helps business owners and leaders in the community learn about the various counties in Central Kentucky, as well as learning about themselves.
This is the article I wrote about my experience at the first meeting, an orientation retreat in Berea, Kentucky.
Leadership Central Kentucky Orientation Reflection
When thinking about the Central Kentucky area, you probably think of bourbon, horses, manufacturing, higher education, beautiful scenery, and politics. You would be right! What you may not realize is all the fantastic leaders in this area that give of their time and resources to make our region the best it can be.
I enjoyed the opportunity to meet 2 dozen of them and spend a couple days beginning to build relationships with many of them. Our sessions were held at Boone Tavern and were facilitated by Dr. Virgil Grant and Amy Stout. The care and planning they invested in the workshops was evident in the choices of materials and topics, down to the hot browns and Derby Pie and bourbon!
Like me, I’m sure you have done various personality profiles over the years, but a “new” one is the Enneagram Test. This assessment has been around for thousands of years but has become popular in this area more recently. Everyone in the class completed a self-inventory, and then as a group, we learned what personality types we were and how to best use those natural gifts and talents in our professional and personal lives. What an insightful exercise!
Another topic we discussed in our meeting is regionalism. We were challenged to think about some of the ways that we can maintain healthy competition between the counties but also work together in a spirit of cooperation to further benefit the Central region of the Commonwealth.
Through a conflict resolution workshop by Dr. Grant we learned that being transparent, negotiating from a place of good intentions, and the relationships between various people and industries are all ways to begin to work together. We can attract new businesses and workers with their families to our region, bringing diversity, tax dollars, and new ideas that will help our economy grow.
I am looking forward to what this year brings with great anticipation! The people I’ve met and what I have learned so far are a testament to a great program.
Send me an email if you would like to know about the programs and organizations Castle Insurance supports in Central Kentucky. Maybe we can volunteer together! You will be blessed!
Before the cold and miserable weather arrives in Kentucky this weekend, it’s a good idea to winterize your home and your vehicles. These tips will help you avoid claims on your insurance policy and keep your claim-free discounts intact!
Here are some tips for your home:
Check the gutters. It seems like gutters are on every single “home maintenance tips” list, and there is a good reason for this fact. Gutters are one of the main drivers of the rainwater away from your home. Water can do lots of damage, so be sure there aren’t any leaves or other debris in your gutters that will impede water flow. Make sure they are affixed to the home correctly and don’t have any gaps in the metal. Be sure they are attached to the downspouts correctly too.
Have your furnace/heating system inspected to be sure it is in proper working order. Change the filter(s).
If you have a chimney, have it cleaned and inspected.
Check for drafts around your windows and doors and replace weatherstripping if needed.
Be sure you have have snow-removal supplies, just in case.
Trim your trees. Remove branches that could hit your car or home if they broke off during a winter storm. If it’s a big job, hire a licensed professional.
Disconnect your garden hose, including the extra connector piece.
Here are some tips for your vehicles:
Be sure your tires are ready for winter. Replace ones that have worn treads. Maintain the correct tire pressure for the lower temperatures.
Pack a winter safety kit for your trunk.
Replace the wiper blades and fluid.
CHECK THE BATTERY!
Be sure all fluids are topped off.
Check belts and hoses.
Here are a few links for more information from the experts.
There are lots of reasons I hear from clients to put off buying life insurance:
It’s too expensive.
I just haven’t gotten around to it.
I have some at work.
I don’t want my spouse to have fun with another person with my life insurance money.
I’m too young to need it.
It’s too expensive.
According to www.lifehappens.org, life insurance is almost always less expensive than you would expect. If you can afford a boujee coffee a couple of times a week, you can afford life insurance.
The price of life insurance is based on a number of factors, but the most important are age, health and the type of policy. In general, life insurance is cheaper the younger and healthier you are.
I just haven’t gotten around to it.
Unfortunately, lots of people do not get around to purchasing life insurance until they need it, at which time is usually too late. Maybe they are diagnosed with an illness or condition. Maybe they are in a fatal car accident and “were going to get around to it soon.”
There are all kinds of “EXPRESS” life policies that can make the process quick and easy. Your family will thank you for taking the time to take care of them.
I have some at work.
Life insurance at work is a lot like renting, meaning it does not go with you when you leave and you lose the benefit. It’s great to have a policy at work, but think of it as the “icing” policy and get a “cake” policy that you have no matter where you are employed.
I don’t want my spouse to have fun with “my” life insurance money with someone else.
Ok. Don’t be a jerk. Think about the people you love – your spouse and kids – having enough money to stay in their house, stay in the same school district, and having enough money for your funeral. Life insurance funds can help your children go to college or otherwise prepare for their future.
If you don’t leave funds for your family to replace your income, the chances of them getting into trouble financially and needing to find another spouse to help out with finances is much higher.
Do the right thing.
I’m too young to need life insurance.
You will never be younger than you are right now! Even if you don’t have a mortgage, spouse, or kids, you probably will some day. Buy a policy that would cover a mortgage and funeral in your area. Your future self and spouse will thank you!
There are countless examples I could give of friends or family members that were healthy one day, and diagnosed with a condition that makes them ineligible for life insurance the next.
A healthy 22 year old can buy a $500,000 policy with a 30 year term for about $30 per month. That same policy for a 44 year old will be double or triple that amount, providing there are no extenuating health issues that have popped up.
I know you think you are invincible. I hope you are….but just in case…don’t wait.
For more information about life insurance in general, check out www.lifehappens.org. or contact our office. 502-603-0397
Most of us have auto, home, and life insurance, but having protection against a catastrophic liability claim is often overlooked.
Would you have enough coverage if something like this happened to you?
A jury awarded $900,000 to the estate of a 43 – year – old father that died after an auto accident. The award was based in part on the father’s future earning potential.
While helping a friend paint his home, a 40 – year – old man fell and broke his heel. Although the homeowner was found only partially responsible, the fall cost him $1.2 million dollars.
An umbrella policy will provide you with an additional $1 million dollars or more of coverage over and above your underlying homeowner or personal auto limits. It can offer you an extra layer of protection against the possibility of a high jury award in a personal liability case.
It is especially important to purchase this type of policy if you have wages that can be garnished or assets that can be seized to pay a judgement.
It’s an inexpensive policy with extensive benefits! Contact your insurance agent or our office for more details.
I get it. Most of us want to spend the least amount possible on our insurance! What does liability-only even mean?
Liability – only coverage will only pay out if you are at fault in an accident. It will pay for the other driver’s injuries and property damage to their vehicle, as well as damage to a building, structure, pole, etc. There is no coverage for your vehicle with this type of coverage.
We usually write older vehicles that aren’t very valuable and wouldn’t cost much to replace. Vehicles that have current damage, like a broken windshield, rust, or previous collision damage that hasn’t been repaired would not qualify for anything other than liability coverage.
There is another coverage that you may want for an older vehicle that is inexpensive. It is comprehensive coverage and would cover glass, theft/vandalism, and hail damage.
If you have a lien on your vehicle, your lender will require you to carry comprehensive and collision coverage, so make sure you don’t remove that coverage to save money!
Be sure to discuss all your coverages with your agent to be sure you have what you want.
A recent ad used by a popular insurance company tells you, “Only pay for what you need.”
Some of you might find yourself asking some good questions:
“What DO I need? How much insurance is enough? How much insurance is too much?”
In today’s economy, price is king. There will always be several insurance companies to choose from. There will always be a cheaper policy available, but you should know first what you are paying for.
When shopping insurance, especially online, it’s pretty common to ask for an “apples – to – apple quote”, which means you want the same coverages you currently carry, only cheaper. But what is the significance of the coverages you currently carry? Do you have the same coverages since you were 18 and purchased your first policy? Your insurance coverage should reflect your current needs, and it’s very possible that your needs have outgrown your current coverage.
Do you really want an apples – to – apples quote?
When dealing with an experienced insurance agent or risk manager, you should be asked some tough questions like, “Do you have the assets to protect yourself from a million dollar lawsuit over a car accident?Does your policy coverage uninsured drivers?”
Protecting your family from the unknown is exactly what insurance is for, and if you are choosing not to consistently reassess your insurance needs, you may be missing the big picture.
Insurance is a two-way street, and you should be asking your agent tough questions as well. You should ask your agent, “Why did you select these coverages for me? How would you handle a claim? “Why should I choose your agency?”
Build a relationship with your insurance agent.
In the long run, developing a relationship with your agent will pay off far better than saving a few dollars every month. But if you do not feel that your current insurance needs are being met, or if your agent is unable to explain why your coverages are sufficient, please contact Castle Insurance for a comprehensive risk assessment.
In the summertime, we see lots of thunderstorms and hail in Central Kentucky.
What should you do if your home or car is damaged during a storm?
Stay safe? Wait until the storm has passed before you inspect the damage.
Take steps to protect your property. Maybe you need to spread a tarp over a section of the roof. Maybe you need to pick up shingles in the yard.
Contact your insurance agent. Many times, the damage done to your shingles isn’t a large enough amount of money to file a claim when you factor in your deductible.
Get an estimate to see how much the repairs will cost you.
If your car is damaged by hail or a fallen tree limb, you will need to have comprehensive coverage on your auto policy. Have a discussion with your insurance agent to be sure you can get the damage repaired. Again, get an estimate to see how much the repairs will cost you.
Your agent is there to help you in the case of a weather event that causes property damage. Reach out to get advice, after the danger of the storm has passed.
