Courtesy of iii.org For parents, the excitement of having a first-time driver in the house is usually tempered with worry. With little driving experience, immature drivers are at a higher risk for accidents. Of course, safety concern is uppermost in most parents' minds but other stressors—like the high cost of insuring your new driver and the financial liability implications of a teen driving mishap—can be reduced with these steps. Before getting a learners permit, make a call to your insurance professional Your agent or rep can clearly explain the costs involved in insuring a teenage driver. The good news is, as your teenager gets older, insurance rates will drop—providing he or she has a good driving record. Therefore… Involve your teen in the car insurance discussion From the outset, it's important to talk to your kid about the relationship between driving a car and the attendant responsibilities, including insurance costs. Explain and reinforce driving safety tips and the …
Are You Covered in the Case of a Natural Disaster?
Courtesy of iii.org. Homeowners and businesses in California’s Butte, Sutter and Yuba counties who have flood insurance will be covered if the Lake Oroville Dam’s auxiliary spillway fails, according to the Insurance Information Institute (I.I.I.). Revised forecasts call for about 10 inches of rain heading to the area according to the LA Times. Roughly 50,047 single- and multi-family residential homes could be damaged with an estimated reconstruction cost value of $13.3 billion if the Oroville Dam in California were to fail completely, according to new data analysis from CoreLogic that included the six primary counties in that area. “The potential for flooding poses a significant threat to life and property in these northern California counties and forced the evacuation of almost 200,000 of residents,” said Janet Ruiz, the I.I.I.’s California Representative. “Standard homeowners, renters and business insurance policies do not cover flood-caused damage. A separate flood …
It’s Hurricane Season, Follow These Guidelines
Courtesy of iii.org Hurricanes are violent and dangerous to your family and your home. When a hurricane threatens to bear down, make sure that you know how to batten down your hatches and protect yourself, your loved ones and your property. When it's hurricane season Hurricane season starts June 1 and runs through November 30. But don't wait until a warning—take steps to prepare in advance for a potential hurricane—it's the best way to protect your family, your home and your business. For more preparedness tips, handy checklists (including ones you can personalize yourself) and evacuation planning advice to cover a variety of disasters, get the I.I.I.’s Know Your Plan app. It's a great tool to help get you and your family—including pets—organized and ready to act more quickly if a hurricane or other emergency strikes. When a hurricane watch is issued A hurricane watch is issued when there is a threat of a hurricane within a 24-36 hour period. At that time, you …