1.         Costs associated with equipment theft exceed $1 billion, according to the National Equipment Register (NER). This includes direct and indirect losses, such as rentals.

2.         The major reasons for the increase in equipment theft are the value of the equipment and its ease of sale. “Lack of site security” is the top reason why thieves seem attracted to heavy equipment.

3.         There isn’t much of a deterrent for equipment theft. Thieves also know that the penalties are fairly light if they are caught. The equipment is very difficult to trace and is recovered less than 15% of the time. (Stolen autos are recovered 60% of the time.)

According to the NER, equipment owners should register their equipment immediately. The next step is to consider your insurance coverage.   Although, most business owners take the insurance offered by the leasing company, an inland marine policy may be your most cost effective avenue and the best defense against financial loss due to equipment thieves.  Adding the equipment to your current business policy may also be an option so speak with your agent or contact the NSA Group with any additional questions.

Helpful Links:

NER HELPtech – Register Machine Product Identification Numbers

CNA/NER Partnership to Combat Heavy Equipment Theft

• swimming pools
• trampolines
• empty buildings/sheds
• appliances kept outside
• excavations
• construction materials

All of these can lure children onto property and they all have the potential to cause serious injury.

Children do not have the reasoning ability of adults. A property owner will not escape liability because the child was trespassing.

Here’s how you protect yourself:
Do whatever it takes to prevent a child’s access to the property. You can:
1. Eliminate the property:

• have old appliances hauled to a junk yard
• tow old, non-running vehicles away
• get rid of construction materials immediately after a building project is complete

2. Secure the property

• take off doors or covers from large appliances awaiting garbage pickup
• keep sharp tools, especially power tools and equipment, locked away
• store construction materials in a garage or shed

3. Reduce the chance for injury

• install a pool cover and have a locked fence to prevent access to pool
• do not allow younger children to use equipment such as trampolines
• make sure there’s adult supervision of children using play equipment

If you’re not certain about whether you have an attractive nuisance situation, contact us to discuss the situation.

Additional Information from:

Trusted Choice - Swimming Pool Risks

Mayo Clinic - Trampoline Safety

Arson is one of the leading causes of fires along with open flames, electrical and lightning. Churches that have been victims of arson, incur on average, in excess of $450,000 in damages.

Why are Churches Targets for Arson?

Churches are often targets for arson because the buildings are frequently unoccupied and church schedules are very predictable. Security systems in many religious buildings also are often insufficient or absent. 

According to research from the National Fire Incident Reporting System (NFIRS), sprinkler systems were not present in 95 percent of churches reporting fires, yet there was a 47 percent reduction in damage per church fire when automatic suppression systems were present.

However, not every Church can afford these systems. Listed below are preventive measures that can be done to protect your congregation without breaking the bank.

• Always make sure all windows and doors are locked when the building is unoccupied.
• Limit  the number of keys to the building, and make sure that all keys  are returned if an employee or volunteer leaves the church.  Locks should be changed occasionally.
• All doors and windows should have adequate locks, jams and/or deadbolts.
• Keep exterior building, door and parking lot lights on from sunset to sunrise. Remember to change the lighting timers with Daylight Savings Time.
• Keep an interior light visible from outside lit at night or consider the installation of motion-activated lighting near entryways and windows.
• Maintain shrubs and trees, ensuring that they are trimmed around doors and windows.
• Establish a “Church Watch” program, enlist  volunteers & neighbors to check  the property at various times of the week and report any suspicious activity.
• Reach out to local law-enforcement and ask them to patrol your property at odd hours when the building is not occupied.
• Keep the grounds of the church free from debris and garbage. Have tools and ladders secured in a locked area.

For additional information please feel free to contact us at 631.403.4107 or on our website at NSAinsure/Churches and Synogues.

If you were given a valuable gift, you need to take steps to protect it against loss.  Although most homeowners insurance covers a certain amount of personal property, many high-value items are excluded from your policy or have limited coverage.

 Some items you should consider getting additional insurance on include:

• Jewelry
• Furs
• Cameras
• Musical instruments
• Silverware
• Golfer’s equipment
• Fine arts
• Collectable stamps
• Rare and current coins
• Computer equipment
• Fire Arms
• Wine Collections

# # more # #

Ask your insurance agent about protecting these possessions with what’s called a Scheduled Personal Property Endorsement, or a Personal Articles Floater. These endorsements allow your agent to list each article separately, and assign a specific value to them for which they will be covered.  Be sure to talk with your agent about the true cost of your gift; providing a bill of sale or an appraisal of the item is always the most accurate way of determining value.

There are various ways to cover these items:

• Actual cash value (original cost minus depreciation)
• Cost of repair
• Replacement Cost (cost to buy new)
• Replacing with “like kind and quality”
• Agreed value loss settlement

The terms of this type of scheduled personal property coverage is determined by the specific insurance company and the terms of the agreement.  Keep in mind in some cases you will not be able to return to your neighborhood jeweler but instead the insurance company will find the replacement for you.

Fine arts should be insured under an agreed value, as they are usually unique and their value is difficult to determine.

As with most insurance policies, there are some things that aren’t covered, like damage due to wear and tear, or damage caused by insects. Ask your agent about any exceptions in your policy.

For more information about protecting your valuable possessions, contact your insurance agent. They are trained professionals that can offer expert advice on how best to insure against loss.  If you are interested in additional information on this topic, please don’t hesitate to contact one of The NSA Group offices.

Additional Links:

The NSA Group Contact Information

Trusted Choice

 Here are some quick tips to make your journey safe and sound.

Check Road Conditions and Weather Reports. Even if the forecast is good, winter weather can change quickly. Check weather conditions not only in your home town, but log onto weather.com to check the forecast for the town you’re traveling to. Check the Federal Highway Administration’s Web site for up-to-the-minute traffic information, detours and road construction. Planning for delays or looking for alternative routes can save you time and a lot of hassle.

Emergency Snow Kit. Even the best planning may not allow you to avoid wintry driving conditions. Pack an emergency snow kit,  and keep it in your car. Include a snow scraper and brush, a flashlight, blankets, booster cables, a shovel, kitty litter, flares, emergency triangles and a first aid kit. While you may never have to use these items, you’ll be glad you have them in the event of an emergency.

Winter Check Up. The last thing you want to do is break down, whether it’s on a deserted back road or on a busy interstate highway.  So make sure to have a certified mechanic check your oil level, tire pressure, windshield wipers, heater, defroster, antifreeze and brakes before you head out on icy and snowy roads.

Buckle up. Sounds like a no-brainer, but  many motorists fail to use this basic safety essential.  Thanksgiving weekend is one of the most dangerous and deadliest times of the year to travel, don’t let yourself or your loved ones become a “Thanksgiving statistic.”

Do Not Over Eat. Over indulging in holiday treats can make you feel uncomfortable and groggy for the ride home. If you have a long journey ahead, consider cutting back on the goodies and have a cup of coffee or a caffeinated soda to help perk you up for the trip home.

Do Not Drink and Drive. Another no-brainer.  According to the National Highway Traffic Safety Administration, more people are killed in drinking and driving accidents during Thanksgiving weekend than during New Year’s Day weekend.

Review Your Auto Insurance Policy. Make sure you know what is and is not covered in your plan.  Please feel free to contact us with questions.

You can find additional safety information on the NSAinsure links page.

Have a Family Plan
Keeping your family safe is your first priority, so develop a Family Disaster Plan.
• First, determine the safest place for your family to be if a hurricane strikes. It might be your home, but it might be with friends or a local shelter. Make sure everyone knows where to meet if you get separated.
• Find out about the established escape routes for your neighborhood. Many communities will block off streets, or change them into one-way avenues, so make sure you know what will happen to make evacuating faster and less stressful.
• Contact an out-of-state friend and ask them to be a point of contact. Many times cell phones won’t work, or will not be properly charged. An out-of-state friend can relay messages to loved ones faster and easier than you may be able to.
• Make plans for your pets. If you are keeping them with you, make sure they have a collar on with identifying information. Keep a photo of them with you so you can show it to others if you lose them. Be sure you have adequate food and water for them and a pet carrier in case you all must evacuate. If you are going to board the animal, make sure it is up to date on all vaccinations and leave important contact information with the facility.
• Be sure to keep a battery powered NOAA weather radio in your home, with extra batteries. This radio will keep you up to date on storm news and data.
• Keep a stocked first aid kit with you, along with a supply kit. Your supply kit should include enough supplies to last you 3-7 days:
        Water
        Food (nonperishable)
        Blankets
        Clothing (sturdy shoes and rain gear included)
        Flashlight and batteries
        Cash

Secure Your Home
After you’re sure you’ve done everything to keep your family safe, take measures to secure your home. Wind damage can be substantial if the wind is allowed to enter the house so take these precautions:
• If you have shutters, make sure that all are closed and securely locked. If you don’t have shutters, you may want to consider boarding up your windows.
• Close and lock all your doors, including your garage doors. You may want to consider installing head and foot bolts on the inactive door or double-entry doors. Make sure your doors have at least three hinges and a dead bolt security lock which has a minimum one inch bolt throw length.
• If you are evacuating, be sure to shut off all water, gas and electricity in the home to prevent damage from broken pipes, wires, etc.
• Park your cars in the garage, not in the driveway or on the street. They’ll be safer from flying debris or falling trees.

Make Sure You Have the Proper Insurance
Many homeowners policies contain exclusions for wind damage and flooding. Contact your agent to review your policy and ensure you’re properly protected!

Visit our catastrophe page for additional information. http://www.nsainsure.com/index.cfm?pageid=346

In New York, your premium is not increased just for filing a claim. Instead, your insurance company would have to determine that you are more than two thirds at fault and pay out more than $2,000.

An example of some accidents that most likely would cause your premium to increase are

1) Reversing out of your driveway and striking a fixed object.
2) Hitting a parked vehicle in a shopping center.
3) Hitting another vehicle in the rear after they have already been stopped.

It is important to mention, that while you may have seen some insurance commercials on TV that mention their policy contains accident forgiveness, what these companies do not mention; is that they charge more up front for your auto policy every year.

If you are involved in an accident, remember that the most important thing is that hopefully no one was injured. Please call an NSA Group branch office to speak with one of our claims representatives so that we can better assist you with any incident you may have been involved in.

Hulk Hogan wishes he had followed the advice of his insurance agent and purchased an umbrella policy. Evidently, his young son was involved an auto accident in which the passenger in his car was seriously injured. Of course the injured party turned to the insurance coverage of the Boella family (Hogan’s real last name). Unfortunately, for Hogan he had to pay out of pocket for any damages that exceeded his coverage amount. Hogan was also left with the attorney’s fees that would have been paid by the umbrella policy if he had purchased the recommended coverage.

Here are a few questions to ask yourself in order to determine your need for an umbrella policy.
• Do you own a home or vacation home?
• Do you own a business?
• Do you have a swimming pool on your property or live on the water?
• Do you own more than one vehicle?
• Do you have teenage children of driving age?
• Do you own a dog?
• Do you own a boat?
• Do you have an “average” family income?
• Do you have investments or any degree of assets?

If you answered yes to any of these questions your chances of being targeted in a lawsuit are increased! Even if you didn’t answer yes to these questions the probability exists for you to be sued like a millionaire even if you aren’t one.

Carrying a personal umbrella policy can protect you against $1,000,000 lawsuits just as much as a rainy day umbrella can protect you on a stormy day!

For additional information please see the following links:

• AARP.org, http://www.aarp.org/money/insurance/info-06-2009/umbrella_insurance_policy.html
• Tampa Bay Online, http://www2.tbo.com/news/breaking-news/2011/may/03/judge-dismisses-hulk-hogan-lawsuit-against-insuran-ar-204443/
• Neefus-Stype Agency, http://nsainsure.com/index.cfm?pageid=245#Umbrella

In 1970, Congress passed the Fair Credit Reporting Act, which gave insurance companies permission to use credit information to establish underwriting guidelines and rates. 

• Insurance credit scores are not the same as the more common credit score.  Insurance companies are only provided with credit related information enabling them to predict the probability of insurance claims individuals will file.
• Insurance credit scores drastically improve the accuracy of the insurance company loss predictions meaning consumers pay premiums that more accurately reflect their individual risk experience.
• The formula created by the insurance companies is applied to each individual in the same manner so that the process is objective and fair.  The Equal Credit Opportunity Act prohibits the use of gender, race, religion, marital status or place of birth in the insurance company calculations.
• Insurance Credit Scores are NOT the only factor used in determining rate.  Other factors include but are not limited to: driving records, coverage limits, property value, loss/accident history.
• Credit inquiries from insurance companies (non-lending type inquiries) do not adversely impact your credit score.

Several independent studies support research showing that individuals who manage their financial responsibilities well also manage other important aspects of their life well.  Responsible consumers are generally safer drivers and maintain their property more responsibly than consumers with a poor credit history. 

One last thought:  a periodic check of your credit report is a wise habit to establish.  The three major credit reporting companies are Equifax, Experian and Trans Union.

This information is intended for educational purposes only.  As always, please feel free to comment on this or any other NSA Group blog post.

 **For additional information refer to the following brochures on our website page http://www.nsainsure.com/index.cfm?pageid=191

• “What’s Credit Got To Do With It?” from Property Casualty Insurers Association of America.
•  “Credit Matters” from Peerless Insurance company which outlines ten steps to improve your credit history.