Replacement Cost

When you choose to purchase a replacement cost policy, you’re choosing to insure your home for the full cost it would take you to rebuild your home with the same construction in the same location. With construction costs changing over time, you should evaluate the limit you carry on your policy periodically to make sure you have the right amount of coverage. Most policies also have an inflationary adjustment that is made every year that increases the coverage by a small percentage in order to keep up with inflation. Many people assume that they need to insure their home for the amount that they could get for it if they were to sell it on the real estate market. Often the market value and the replacement cost are two very different numbers.

Actual Cash Value

This valuation method calculates the value of your home with depreciation for age and condition of your home. This type of policy is generally less desirable and often more expensive than a replacement cost policy. For certain circumstances it may make better sense or be the only available option.

A Startling Fact

In 2007, 66 percent of homeowners in the U.S. were underinsured (by an average of 18 percent). When there is a total loss, meaning that the home is completely destroyed, a homeowner will not get enough insurance reimbursement to replace their home if they do not carry a high enough limit. For this reason, it’s important to insure your home to its full replacement value (for a replacement cost policy).

When you make changes to your home, make sure that you adjust the limit of insurance accordingly. Renovations such as building a garage or porch, adding an addition, or remodeling a kitchen or bathroom can add a measurable amount to the replacement cost of your home.

Identity fraud, or identity theft, is a crime where a victim’s personal information is used without their permission in the commission of a crime. Victims of identity fraud often incur thousands of dollars in out-of-pocket costs to restore their lifestyle after their personal information has been compromised by a fraudster. In addition to these costs, victims spend countless hours taking care of the restoration of their good name.

How to prevent it

Be careful and responsible with your personal information. Educate yourself about the different ways that your information can be compromised:

• Shoulder Surfing – when someone can steal information in an ATM line, or at the grocery store, or anytime you have credit card or i.d. out in the open
• Social Engineering/Pretexting/Phishing – when you receive mail, email, or telephone call and someone poses as someone else in order to entice you to divulge information that you give because of who you think you are talking to.
• Social Networking – be careful of privacy on websites such as facebook, myspace, a web blog, or other websites where you may post information about yourself.
• Stealing your wallet or purse, going through mail or trash
• Computer Hacking – through a computer virus or malicious software, thieves can access your computer files or monitor the information you enter on the computer.

It’s a good practice to keep your information private and secure. Some information you may be required to give out. Be sure you know why the information is needed and how it will be used. Only give out information to those you trust, and only when you can confirm that they are who they claim to be.

What to do if you are a victim

1. File a report with the police
2. Notify your bank, credit card company, etc.
3. Look over statements and verify activity. Dispute any transactions you did not authorize.
4. Check your credit report (available free one time per year at http://annualcreditreport.com).

Insuring against loss to identity fraud

Many insurance carriers offer coverage for victims of identity fraud as an optional coverage that can be added on to a homeowner’s, renter’s, or automobile policy. The cost is often around $20 per year and can go a long way if you are victimized. It does not prevent your identity from being stolen, but it can make the recovery process a lot easier and save you some peace of mind.

When undergoing any home projects, please keep safety in mind at all times. Do not attempt any dangerous or unfamiliar tasks on your own. If you need help, consult a qualified technician or contractor.

Outside

Roof, Attic, and Gutters

• Inspect the roof from the ground. Look for any missing or damaged shingles as well as any bulges or sagging.
• Inspect the gutters and drainage system to verify that all parts are properly connected and that water is being routed at least four feet from the exterior walls of your home.
• Remove any debris from the gutters.
• Inspect the trim and fascia for damage.
• Inspect the roof from the inside of the attic to check for any signs of leakage or damage.

Exterior

• Inspect wood surfaces including decks and steps. Check for rot, loose boards, or exposed nails.
• Inspect all utility wires running to your home. Ensure that trees are not too close.
• Consider removing dead trees.
• Inspect walkways and driveway for damage. Fill any potholes and patch the cracks.

Windows & Doors

• Inspect weather stripping around all windows and exterior doors.
• Inspect screens for damage.
• Inspect the handles and locks on all exterior doors. Ensure that they close tightly and that the locking mechanisms are secure.

Inside

Emergency Preparedness

• Inspect your smoke detectors and fire extinguishers. The batteries in the smoke detectors need to be changed regularly and the gauge on the fire extinguisher will show the amount of pressure in the tank.
• Hold a fire drill with family members. Practice with your children the escape routes from different parts of the house. Plan where you will meet if there is an alarm.
• Consider a gas-powered generator to provide a backup power source to your home.
• Consider storing a supply of nonperishable food and water. Rotate your emergency supply to prevent spoilage.

Basement

• Inspect foundation for any shifting or cracks. Seal any cracks.
• Inspect wood for evidence of insect damage.
• Check for any signs of moisture or mold. Address any problems immediately.
• Consider a dehumidifier to keep air in the basement dry.
• Consider a sump pump to prevent water from building up on the basement floor.

Electrical

• Test all Ground Fault Interrupter (GFI) Outlets.
• Trip and reset all circuit breakers. (Be sure to power off any electronic devices prior to doing this).
• Inspect the main electrical panel for any signs of damage, especially burn marks.
• Inspect outlets for poor wiring or bad connections. These can lead to electrical fires.
• Consider replacing low-efficiency lightbulbs with high-efficiency bulbs.

Plumbing

• Use drain cleaning solution on any slow drains.
• Remove buildup from plumbing traps.
• Inspect water heater for any sign of water leakage. Make sure there is proper ventilation if you have a gas-powered heater.
• Test shutoff valves for all plumbing fixtures.
• Check all faucets and beneath every sink for evidence of leakage.

Kitchen

• Vacuum the refrigerator coils.
• Remove any ice buildup from your freezer.
• Deep-clean the oven and stove.

Air Conditioning System

• Clean the filter and condenser.
• Listen for any abnormal sounds.
• Check to make sure the system works before the heat sets in. If your system needs to be serviced, you should take care of it early on.

1. Review your insurance policy to make sure you have the right coverages.
   1. You are required to carry minimum liability limits of 25,000/50,000 for bodily injury and 10,000 for property damage. These limits are very low and will provide you with only the simplest of coverage in the event of an accident. Consider higher liability limits for only a few dollars more.
   2. Physical damage coverage for motorcycles can be very inexpensive. If you ride a big bike or a newer bike, you may be surprised how little the cost is for comprehensive and collision coverage.
2. You may be entitled to a discount for taking a motorcycle safety course or for being a member of a motorcycle association, Call or come into the office to review.
3. Plan ahead. If rain or inclement weather is on the forecast, be prepared with the right gear to stay safe on the road.
4. Always, always, always wear a safety helmet.

For Homeowners

• Make sure you have a clear plan for what it is that you intend on accomplishing with your project.
• Obtain any necessary permits before you start the work.
• Choose a contractor with a good reputation.
• Make sure your contractor has liability insurance. You should request a certificate of insurance proving that coverage is in place.
• If the changes you make add to the value of your home, make sure your policy gets updated to reflect the increase.
• If you make changes to the roof or to the heating, electrical, or plumbing system, make sure you are getting the right discounts for doing the updates.

For Contractors

• Make sure you have the right liability coverage for the job you are doing.
• If you have employees or workers, make sure you carry the required worker’s compensation insurance.
• If you subcontract any work to other contractors, be certain to get a certificate of insurance from them.
• Check your policy to make sure that your tools and equipment have the right amount of coverage.
• Keep complete records of each job you do, the type of work, the amount that you collect, and the payroll for yourself and your employees. When it comes time to complete the annual audit, you will be glad that you kept accurate records.

• All new homes are required to have Carbon monoxide detectors hard wired into the electrical system of the home.
• Homes built prior to January 1, 2008 are permitted to have battery-powered carbon monoxide detectors.
• Detectors should be installed on the lowest level of the home having a bedroom and should be audible to all bedrooms even with doors closed.
• Contractors installing new furnaces and water heaters are required to install a carbon monoxide detector in any home that does not already have one.

Carbon Monoxide Facts

Carbon monoxide can be produced when burning any type of fuel including gasoline, charcoal, propane, natural gas, kerosene, oil, wood or coal. If any flammable material burns incompletely, carbon monoxide is produced. Carbon monoxide can be fatal after minutes or hours of exposure, depending on the levels in the air.

When carbon monoxide is inhaled at damaging levels it can lead to breathing difficulties, impaired judgment and memory, damage to the nervous system, cardiac trauma, brain damage, coma and death. Everyone is susceptible, but the American Medical Association says that unborn and young children, pregnant women, senior citizens and people with heart or respiratory problems are especially vulnerable and are at the highest risk for death or serious injury.

The symptoms of carbon monoxide poisoning are often mistaken for the flu and can include dizziness, fatigue, weakness, throbbing headache, nausea, vomiting, irregular breathing, sleepiness and confusion. By the time people realize there is a problem, they are often too sick or too disoriented to get out of the house and get help.

Do remain calm and professional.

Do call the police and, if necessary, the ambulance.

Do obtain the names, phone numbers, and addresses of all drivers, witnesses, and injured persons.

Do take pictures of the vehicle and surroundings and any other pertinent information. With the high availability of cameras and camera-phones, a photo is easy to capture and can be useful later on.

Do be completely honest and forthright. Dishonesty can invalidate your coverage.

Do save all receipts for repairs, towing, rental car, medical bills, and other expenses incurred as a result of the accident.

Do report the accident to your insurance agent as soon as possible.

DON’Ts

Don’t leave the scene of the accident. It’s Illegal.

Don’t drive an unsafe vehicle. If you have any question as to the safety of your vehicle after an accident, don’t even think about driving it away. It’s not worth the risk.

Don’t accept any claim settlements at the scene of the accident.

Don’t admit liability on your part. Relate just the facts to the police officer.

In order to participate in the program, you had to take a course in a classroom. In 2009, the rules were expanded to allow for course providers to offer their content online.

The logistics of the program are as follows:

1. Sign up for the course, and pay the course fee (usually between $25 and $50 per person)
2. Participate in at least 6 hours of course instruction (online or in the classroom)
3. You will receive a certificate of course completion. Provide a copy of this certificate to us in order to get the insurance discount
4. Enjoy the savings for 3 years.

You may participate in the program as often as you like. If you have multiple vehicles on your policy, each principal driver can take the course to make sure that you maximize the discounts.

In addition to the savings on your premium, you can also avoid dangerous situations and activities by following the safety guidelines that are taught in the course.

For more information or to register to take the course online, you can visit http://www.newyorksafetycouncil.com/

When a snowmobile is registered for the first time, it is assigned a registration number. The number stays with the sled from owner to owner until it is destroyed or permanently removed from NY.

DMV will provide registration number decals which must be displayed on both sides of the cowling of the sled at all times. The cowling is the forward portion of the sled that covers the engine and clutch assembly. Any other placement is illegal and can result in a costly citation.

If a snowmobile was registered for the first time before august 1995, the owner-provided registration number must be displayed. Requirements dictate that the numbers must be at least three inches tall.

Yearly registration validation stickers must be displayed in the upper left-hand corner of the registration decals.

Insurance

Any snowmobile operated on any part of a roadway or shoulder of a highway in NY State must be covered by minimum liability insurance. These limits are $10,000 for bodily injury to any one person and $20,000 for an accident involving two or more persons, as well as $5,000 in property damage liability arising from one accident. Proof of insurance must be carried by the snowmobiler and displayed on request.

Registering your Sled

Bring the following with you to register your snowmobile:

• Completed form MV-82 (“Application for Vehicle Registration”)
• Proof of Ownership: A Complete bill of sale and one of the following:
  • MCO/MSO for a new trailer, OR
  • Signed title document for a 1973 or newer used trailer weighing over 1,000 lbs unloaded, OR
  • Signed transferrable registration for a used trailer not requiring a title
• Proof of payment of sales tax (tax may also be paid at the motor vehicle office)
• Proof of identity and date of birth
• A check made payable to the commissioner of motor vehicles.

Wood stoves are a popular alternative source of heat for many homes. As long as you have a good supply of fuel wood, the cost is next-to-nothing. There are some dangers associated with wood stoves, however, as wood stoves cause many house fires each year. Here are a few things to keep in mind if you choose this method of heating your home:

Installation

Before having your wood stove installed, be sure to provide the installer with the installation guidelines provided by the manufacturer. You will need to obtain the proper certification from the local code enforcement officer. Some insurance companies also have requirements for stove installation. An improper installation can put your policy in jeopardy of cancellation. When burning, be sure to follow the guidelines provided by the manufacturer of your stove to keep the temperature within the the safety threshold. A fire that is too hot is wasteful and dangerous. A Fire that is not hot enough can lead to unnecessary creosote buildup.

Cleaning

For most wood stoves, a fall cleaning is all that you will need. Some wood stoves may need to be cleaned more frequently depending on the type of fuel used, the temperature they burn at, and other factors. You should check at least monthly during the burning season to make sure that creosote is not building up in your chimney. The manufacturer of your stove may also provide guidelines to effective cleaning and maintenance of your stove. Seek the help of a qualified individual to clean your stove.

Fuel Choices

The best choice for fuel is dry, seasoned hardwood. It burns hot, clean, and efficiently. Be sure to use good judgment when making a fuel wood choice. Build your fire with newspaper and dry kindling. Never use charcoal starter fluid, gasoline, or other liquids. Proper seasoning of wood is done when it is stored for at least 6 months before burning. Cracks in the end grain is an indication that the wood is properly seasoned. If you are storing the wood outdoors, stack it neatly off the ground and cover the top. Discard wet, rotted, diseased, or moldy wood. Never put garbage or other debris in your stove. In addition to causing a fire hazard, burning anything other than clean wood may produce harmful chemicals that can damage the wood stove and lower the quality of the air.

Ash Removal

When cleaning the ashes from your stove, store them in a metal container with a tight lid. place the container outside, and a safe distance from anything that could catch fire. The ashes can stay hot for days. Make sure they are cool before dumping or trashing them.

Smoke

New York State law requires that smoke from a wood stove have opacity of less than 20 percent. If you can see a clearly defined smoke plume, there may be a problem with the combustion process. The most common causes are wet wood, burning fuel other than wood, insufficient air flow to the stove, an improperly maintained chimney or stove, or an inefficient stove. Smoky fires affect the quality of the air, waste fuel, and cause creosote buildup in chimneys, leading to chimney fires. A properly installed stove should be smoke free.

Children & Pets

It goes without saying that a wood stove is very hot. Children and pets should be kept a safe distance from the stove and not left unattended. Burns can happen in an instant. If you suspect that a member of your household has been in contact with the stove, seek qualified medical help. Never leave home or go to sleep with an unattended fire.

Carbon Monoxide

All homes should have a carbon monoxide detector. A simple detector can be had for around $20 at a hardware store. Carbon monoxide is an odorless gas that can cause serious health implications or death. Eliminate the chances your family will be exposed to it with proper detection.