ludwigfawcett.com Blog


Don’t Rent Out Your Home This Summer Without The Right Insurance

Posted in Business insurance,Home insurance,Personal Insurance by Administrator on the May 23rd, 2017

Vacation Home and Income Property Insurance

More and more people are using services like VRBO and Airbnb to find vacation rentals.  As a result, many people are using their homes to develop rental income.  A standard homeowner’s policy may not cover losses incurred while your home is rented out.  You may require a more specialized insurance policy.

Key Homeowner’s Insurance Concerns With Rental Property

  • Your homeowner’s insurance will not cover rental property.
  • Landlord policies generally cost about 25 percent more than a standard homeowner’s policy to pay for increased protections.  source
  • You need landlord insurance when you do not occupy the same residence as your tenant. You will also need landlord insurance if you are renting out your own home temporarily, or sharing accommodations such as your basement level, with a renter.
  • You will need liability coverage in the event your renter is injured on your premises.
  • Your policy will not cover wear and tear due to increased use.
  • VRBO, Airbnb and other rental sites may require proof of insurance.

There are only a few insurance carriers willing to write an Airbnb liability insurance policy.  We have experience with insurers who handle this kind of risk. While we enjoy meeting our clients in person, we can also initiate coverage over the phone, by fax, or by email.  We are family-owned and -operated and have been in business for over 50 years.  Our office is conveniently located on El Camino Real just north of Grant Road in Mountain View.

 

 

A Few Simple Ways to Prepare Now For a Disaster

Posted in Home insurance,Personal Insurance by Administrator on the May 12th, 2017

A personal insurance update

Do not let the change in weather fool you; we are still at risk for acts of Mother Nature.  In the coming months, we may be at risk of wind damage, wild fires, floods, and more.  Remember, your homeowner’s insurance may not cover every disaster, so please call our office for a free insurance review.

How to prepare for an emergency

  • Create a home inventory. This will help you to recover your personal property.
  • Is your policy’s replacement cost limit correct?  It is a good idea to have us, or your insurance company, help you determine the current replacement cost of your home.
  • Create an emergency food supply; enough to last a week or so.
  • Have a three to five-day supply of water, 1-2 gallons of water per person, per day.
  • Keep extra cash on hand in case banks are closed.
  • Have a few high-powered flashlights ready.
  • Keep extra batteries on hand.
  • Have a communications plan. Consider that your family may not be together if a disaster strikes.
  • Designate a contact person, outside the area, as a check in person for family members.
  •  Stock a first aid kit, a supply of essential medicines for at least a week, and other crucial medical supplies like inhalers.
  • Make sure you have copies of your family’s identification, birth certificates, passports, insurance policies, proof of address or lease, medication list and medical information, copies of credit cards, checks, etc.

Ludwig & Fawcett Insurance

We provide our customers with financial protection through quality insurance products.  We partner with multiple financially sound and reliable companies, allowing our knowledgeable and experienced staff to customize an insurance package to fit your needs. 

While we enjoy meeting our clients in person, we can also initiate coverage over the phone, by fax, or by email.

 

Make Cyber Risk Prevention From Ludwig & Fawcett Insurance

Posted in Business insurance,Home insurance,Personal Insurance by Administrator on the April 18th, 2017

Mountain View Business Insurance

Every business owner has read about cyber breaches and how these impact every business. We want to focus on how to prevent your confidential business information from being compromised in the first place. Cyber breaches come in a variety of forms, so we will focus on the most popular breaches; Insider breaches, payment and credit card skimmers, and direct cyber-attacks. With most of today’s critical information stored on computer systems, cyber-attacks can cost firms time, money, and data, but also their reputations.

Prevention Tips

  • Provide Training to all employees. Helping your employees understand how cyber breaches occur, will go a long way in prevention.
  • Keep your operating system, browser, anti-virus, and other critical software up to date.
  • If at all possible utilize a third party company to serve as your IT department, unless you are large enough to have full time professionals.
  • Activate your firewall. Firewalls are the first line of cyber defense; they block connections to unknown or bogus sites and will keep out some types of viruses and hackers.
  • Secure all passwords and do not share them with anyone.
  • Use only secure wireless networks.
  • Develop a secure way to allow laptops off the premises. Never keep client information on laptops if used off site.
  • Install the latest operating system updates. Keep your applications and operating system (e.g. Windows, Mac, Linux) current with the latest system updates.
  • Verify the authenticity of requests from companies or individuals by contacting them directly.
  • When an employee leaves the company or is terminated, turn off the access to their computer. If there is personal information on their computer, have your IT person manage the process.
  • Be aware of pushing scams. This involves a hacker using an email or website to install malicious software onto your computer. These web entities are designed to look like a normal email or website, which is how hackers convince their victims to hand over personal information.
  • Never open an email from someone you don’t recognize, even if it identifies you by name.
  • Make sure a website is secure before you enter personal information.
  • Do not give out any information over the phone or in an email unless you are completely sure it is authentic. Social engineering is a process of deceiving individuals into providing personal information to seemingly trusted agents who turn out to be malicious actors.
  • Carefully read the permission release before installing apps.
  • You may want to consider encryption programs for sending confidential information.

Ludwig & Fawcett Insurance!

We provide our customers with financial protection through quality insurance products.  We partner with multiple financially sound and reliable companies, allowing our knowledgeable and experienced staff to customize an insurance package to fit your needs. 

While we enjoy meeting our clients in person, we can also initiate coverage over the phone, by fax, or by email.

Five Gaps in Coverage for Many Small Businesses

Posted in Agent,Business insurance,Umbrella Insurance by Administrator on the April 9th, 2017

According to the latest surveys by major insurers, small to medium sized businesses have a number of critical gaps in their insurance coverage. The reasons for gaps vary; not fully understanding how certain coverage applies to their business, buying insurance from a captive agent who can’t provide the coverage, thinking their commercial coverage provides the coverage, and finally believing they don’t have the risk.

Here are the coverage’s you should consider to make sure you are adequately protected.

Pollution Liability- Protects against the liability that comes with polluting the environment including restoration and cleanup, liability for injuries and deaths caused by pollution.

Cyber Liability- Cyber liability is the risk posed by conducting business over the Internet, over other networks or using electronic storage technology. It covers third party losses from hackers, theft, and loss of information including sensitive client or individual personal information.

Directors & Officers Liability- Covers costs, damages, and defense protection to directors and officers of a company resulting from law suits and judgments arising out of poor management decisions, employee dismissals, shareholder grievances, and other such acts committed in good faith.

Employment Liability- Employment Liability provides protection for an employer against claims made by employees, former employees, or potential employees. It can cover discrimination (age, sex, race, disability, etc.), wrongful termination of employment, sexual harassment, and other employment-related allegations.

Professional Liability- Insurance that is designed to cover third party claims, damages and claims arising out of providing professional advice.  Many firms create legal obligations arising out of a professional’s errors, negligent acts, or omissions during the course of providing services to clients.

We are ready to help you better understand your risks. Please call our office today.

Ludwig & Fawcett Insurance!

We provide our customers with financial protection through quality insurance products.  We partner with multiple financially sound and reliable companies, allowing our knowledgeable and experienced staff to customize an insurance package to fit your needs. 

While we enjoy meeting our clients in person, we can also initiate coverage over the phone, by fax, or by email.

 

Now That Is One Sweet RV!

Posted in Auto Insurance,Personal Insurance by Administrator on the March 21st, 2017

A Mountain View Personal Insurance Update

As a Recreational Vehicle owner, you love to enjoy your “home away from home.”  You spend many hours cleaning and updating your RV in order to make sure your travel plans go well.  Regardless of whether you are relaxing at the lake or traveling through the Rocky Mountains, you need to take the proper steps to protect what you have worked so hard to enjoy.  RV insurance can protect your asset while giving you peace of mind knowing that if an accident does occur, you are protected.

RV Insurance Premiums

RV insurance rates do differ from company to company. It is important to have us shop your insurance to make sure you get the best insurance possible. There is no such thing as a one-size-fits-all insurance policy.  Some insurers offer better rates for trucks, RV’s, and campers, while others can offer better rates for expensive motorhomes.  We can cover class A, B, and C vehicles.

RV Insurance Coverage

  • Liability
  • Comprehensive and Collision
  • 24 hour roadside assistance
  • Uninsured/underinsured motorist coverage
  • Emergency expense money
  • Coverage for contents
  • Towing coverage
  • Medical payments coverage

Your standard personal auto insurance will not cover your recreational vehicle.  It is better to have coverage specifically designed to the needs and risks associated with your particular RV or travel trailer. While we enjoy meeting our clients in person, we can also initiate coverage over the phone, by fax, or by email.  We are family-owned and -operated and have been in business for over 50 years.  Our office is conveniently located on El Camino Real just north of Grant Road in Mountain View.

 

Five Gaps in Coverage for Many Small Businesses

Posted in Business insurance by Administrator on the March 12th, 2017

According to the latest surveys by major insurers, small to medium sized businesses have a number of critical gaps in their insurance coverage. The reasons for gaps vary; not fully understanding how certain coverage applies to their business, buying insurance from a captive agent who can’t provide the coverage, thinking their commercial coverage provides the coverage, and finally believing they don’t have the risk.

Here are the coverage’s you should consider to make sure you are adequately protected.

Pollution Liability- Protects against the liability that comes with polluting the environment including restoration and cleanup, liability for injuries and deaths caused by pollution.

Cyber Liability- Cyber liability is the risk posed by conducting business over the Internet, over other networks or using electronic storage technology. It covers third party losses from hackers, theft, and loss of information including sensitive client or individual personal information.

Directors & Officers Liability- Covers costs, damages, and defense protection to directors and officers of a company resulting from law suits and judgments arising out of poor management decisions, employee dismissals, shareholder grievances, and other such acts committed in good faith.

Employment Liability- Employment Liability provides protection for an employer against claims made by employees, former employees, or potential employees. It can cover discrimination (age, sex, race, disability, etc.), wrongful termination of employment, sexual harassment, and other employment-related allegations.

Professional Liability- Insurance that is designed to cover third party claims, damages and claims arising out of providing professional advice.  Many firms create legal obligations arising out of a professional’s errors, negligent acts, or omissions during the course of providing services to clients.

We are ready to help you better understand your risks. Please call our office today.

Ludwig & Fawcett Insurance!

We provide our customers with financial protection through quality insurance products.  We partner with multiple financially sound and reliable companies, allowing our knowledgeable and experienced staff to customize an insurance package to fit your needs. 

While we enjoy meeting our clients in person, we can also initiate coverage over the phone, by fax, or by email.

 

How To Insure Your Mountain View Restaurant

Posted in Business insurance by Administrator on the February 22nd, 2017

A Mountain View Business Insurance Update

If you own a restaurant, it will be important to have the proper restaurant insurance to keep your restaurant open should the unthinkable happen.  If your restaurant, bakery, catering service, or tavern is going to have staying power, you have to build a plan for managing potential risks and pitfalls, and that plan includes insurance.

Restaurants have a unique set of problems that are different from other businesses. Not only do restaurant owners need general liability insurance and workers’ compensation insurance, they must also have property coverage, food contamination coverage, employment practices liability insurance, liquor liability coverage, loss of income, and food spoilage coverage.

Good liability risk management can reduce the chances that your business will be sued, but it can never eliminate the risk entirely. You, or a member of your organization, can make a mistake that injures someone or damages property.  Your mistake could harm the reputation of, or interfere with the privacy of, a customer, client, competitor, or member of the public.  When such injuries occur, you may be legally liable to pay damages to someone who suffers a loss due to your actions or inaction.

To protect your restaurant, you should consider the following kinds of insurance:

  • Property insurance – Covering the value of your building and contents.
  • Liquor liability – This helps protect you if a customer has too much to drink and drives and hurts themselves or someone else.
  • General liability – It protects you in the event someone slips and falls in your restaurant, or you cause injury to someone.
  • Worker’s Compensation- Covers injury to employees.
  • Business income – If you have a loss and can’t operate, this insurance provides replacement income for period of time.
  • Food spoilage – Covers the cost of food that may be lost if freezers go down.  This usually can be added to a boiler and machinery policy.
  • Employment practices liability – Protects against wrongful employment practices including wrongful termination, discrimination, and sexual harassment.
  • Cyber liability – A newer kind of insurance that offers liability insurance for damages arising from a failure of computer security or a wrongful release of private information.
  • Food borne illness coverage – This coverage insures against a customer becoming ill due to your food, or how it was prepared.

Ludwig & Fawcett Insurance!

We provide our customers with financial protection through quality insurance products.  We partner with multiple financially sound and reliable companies, allowing our knowledgeable and experienced staff to customize an insurance package to fit your needs. 

While we enjoy meeting our clients in person, we can also initiate coverage over the phone, by fax, or by email.

 

How an Umbrella Policy Can Offer Peace of Mind

Posted in Home insurance,Personal Insurance,Umbrella Insurance by Administrator on the February 11th, 2017


Mountain View Personal Insurance Update

Personal umbrella Insurance provides extra protection, or limits, above the liability insurance you currently have.  Just as an umbrella protects you from heavy rain, an Umbrella Insurance policy protects you from losing the entirety of your wealth and assets in the event of a claim. Umbrella Insurance can provide limits above your personal auto and home policies.

The cost of a personal umbrella can be as low as $175 per year for $1,000,000 worth of coverage. If you own a boat, jet sky, snowmobile, or any other kind of recreational toy, you should consider a personal umbrella policy.  If you own your your home or have a 401 K plan, don’t jeopardize your future by having a liability claim that could cost you everything.

Umbrella insurance provides broad insurance beyond traditional home and auto. It provides additional liability coverage above the limits of homeowner’s, auto, and boat insurance policies. It can also provide coverage for claims that may be excluded by the primary policies.

We provide our customers with financial protection through quality insurance products.  We partner with multiple financially sound and reliable companies, allowing our knowledgeable and experienced staff to customize an insurance package to fit your needs. 

While we enjoy meeting our clients in person, we can also initiate coverage over the phone, by fax, or by email.

We are family-owned and -operated and have been in business for over 50 years.  Our office is conveniently located on El Camino Real just north of Grant Road in Mountain View.

 

2017 Insurance Buying Tips

Posted in Auto Insurance,Home insurance,Personal Insurance by Administrator on the January 26th, 2017

Now that 2017 is here, it may be time to consider reviewing your personal insurance program. Most people don’t take time to review exposures, options, or their current economic condition before making their personal insurance purchase. We want to help you, so we prepared these insurance buying tips for 2017.

  1. Don’t buy insurance through the internet – Call our agency and let us provide outstanding service along with competitive pricing.
  2. Maintain good credit – Regularly check your credit score, since a low score may impact your premium.
  3. Review your auto limits – If you have limits of less than $100,000, that won’t even cover the medical bills in a serious accident. The minimum liability coverage that anyone with any assets or income to protect should be carrying is $500,000 to $1 million or more.
  4. Maintain a home inventory – Having an accurate account of your personal property can provide for greater recovery in the event of a loss.
  5. Bundle your insurance – Combine your auto, home and umbrella policies with one insurer to receive greater discounts.
  6. Set the right deductible – A higher deductible reduces your premium, but you have to pay more out of pocket in the event of an accident. If you have a good driving record and haven’t had an accident, you may want to gamble and opt for a higher premium. The reward for this risk could be up to a 40% savings.
  7. Consider Identity Theft – Identity theft is one of the fastest growing crimes in the U.S.
  8. Buy from a financially strong company – Your insurance is only as good as the company who stands behind the policy. The insurance company should have an “A+” rating or higher.
  9. Be prepared to make adjustments as your lifestyle and needs change.

Call us today and let us help protect what is important to you.

Ludwig & Fawcett Insurance!

We provide our customers with financial protection through quality insurance products.  We partner with multiple financially sound and reliable companies, allowing our knowledgeable and experienced staff to customize an insurance package to fit your needs. 

While we enjoy meeting our clients in person, we can also initiate coverage over the phone, by fax, or by email.

 

Did You Know These Damages Are Covered Under A Standard Auto Policy?

Posted in Agent,Auto Insurance,Personal Insurance by Administrator on the January 18th, 2017

An Auto Insurance Update

No one wants to get into an auto accident, but when you do, it is nice to have auto insurance to help you through the aggravation.  Auto insurance can come in many different forms, and we can design an auto insurance policy for your needs that offers you the best possible combination of coverage, price, and service.

Auto insurance policies can offer a few good surprises regarding coverage.  Remember, each policy is different, but generally, the following damages are covered under a standard auto policy or can be added for additional premiums.

Water Damage – Damage due to flooding or rain can be included in your auto policy.  With any comprehensive or collision claim, your claim check will be reduced by your deductible amount.

Riot – If your vehicle gets into the middle of a demonstration or riot and is damaged, your comprehensive insurance will cover any damage subject to your deductible.  If you have comprehensive coverage, shattered windows, scratches, dents from kicking feet, and other forms of riot-based vandalism, are covered.

Lost Wages – If injuries from a car accident cause you to miss work, your car insurance may be able to help get back some, or all, the wages you lose.  This benefit is part of personal injury protection, which covers injuries for you and your passengers regardless of who caused the crash.

Auto Insurance Coverage Options

Here are other unique options you might want to consider when purchasing auto insurance:

New Car Replacement – This coverage usually will provide the cost of a new car (one year removed) if your auto is totaled.

Vanishing Deductible – Under these so-called deductible-credit plans, the deductible diminishes year by year for policyholders who don’t have a claim.

It is important to note that not all homeowner’s policies are created equal, and what one company offers may not be the same as another company. Also keep in mind, if you bought your policy online, who really knows what coverage you have?

While we enjoy meeting our clients in person, we can also initiate coverage over the phone, by fax, or by email.  We are family-owned and -operated and have been in business for over 50 years.  Our office is conveniently located on El Camino Real just north of Grant Road in Mountain View.

 

 

 

 

 

 

 

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