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Archive for July, 2019

Wedding Day Blues

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(Photo courtesy StockVault.net)

 

Wedding Day Blues

For many, finding your “soulmate” and wanting to join together with them for eternity is special. But, sometimes that special day can be ruined by unexpected events. We highly-recommend purchasing wedding (or sometimes called “special event”) insurance to help ease the eager couple’s minds in case of catastrophe.

One of our carriers has a special wedding insurance package that is fairly inexpensive to buy and includes a bunch of coverage that could come in handy in case it rains on your special day (both literally and figuratively). The Wedding Plus insurance package from USLI offers many coverage which can be increased if needed. Here are some of the coverages included in the base plan:

– General Liability. This covers includes medical payments coverage in case a guest gets injured during the affair, property damage in case you or a guest damage the facility/venue the affair is being held at, & product liability in case a guest gets sick on the food/drink served at the affair (the caterer will be sued and you will be sued as well since it is YOUR affair…).

– Host Liquor Liability. Your homeowners/condo owners/manufactured home/renters insurance can offer liquor liability coverage BUT it often does not meet the minimum liability level (most venues require $1,000,000 in coverage) and will not allow you to add Additional Insureds (most venues will want to be covered for liquor liability for your event). Even if you aren’t found liable for an alcohol-related incident at your reception, you will still need legal defense coverage.

– Wedding Attire. The base policy offers up to a $1,000 for the cost to repair/replace either the bride or groom’s wedding attire in case of damage or if stolen. With the recent wedding dress stores going out of business and keeping bride’s dresses (basic theft) – this is a coverage to have.

– Lost Deposit. If a vendor goes bankrupt, closes its doors, or fails to show up – the basic policy affords $1,000 for lost deposits.

– Gift Coverage. recently there was a news story about a woman that entered a reception and made off with gifts/money envelopes. The basic policy affords $1,000 for stolen gifts.

 

There are more coverages included as well as additional coverage that can be added (such as rain date coverage) or increased. Give us a call if you live in Michigan for a quote today!

 

Contact Us!

At M. Vander Plow Insurance Agency, we can work with you to make sure you’ve got the coverage you need, while at the same time using all possible credits and discounts to make that coverage affordable. Just give us a call at 616-396-1497 or send us a note at marsiljeins@gmail.com. We want to help you meet your goals, and make sure what’s important to you is protected!

Categories: Uncategorized

The Physical Damage Dilemma

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(Photo courtesy Stockvault.net)

 

The Physical Damage Dilemma

This week we discussed the dilemma many have when it comes to their vehicles – when is it time to reduce/remove coverage from the vehicle? Some call it going from “full coverage” to “PLPD” (Public Liability/Property Damage) or from “Two-Way” to “One-Way” insurance coverage. However you term it, there are things to consider before making the move to reducing/eliminating coverage from the vehicle.

  • What is the vehicle worth? Both KBB & Edmunds can give semi-accurate information as far as the worth of your vehicle, but to truly determine what your vehicle is worth is to check websites like your local Craigslist/Facebook Marketplace/Auto Trader. These will generally give you an idea of what your vehicle is worth in the current marketplace. If similar vehicles are worth between $2,000-$2,500, it may be time to look at reducing coverage.
  • If the vehicle were totaled, how long before you replace it? If you can replace the vehicle within 14-21 days or sooner, you could look at reducing coverage on the vehicle in question. If it is your only vehicle and you don’t have the funds to replace it within the 14-21 day time frame, you may need to keep coverage on the vehicle so you receive some money in case of a total loss to purchase a cheap vehicle or put a down payment on another vehicle.
  • Look at the savings by reducing/eliminating coverage. As was mentioned in one “real world” example, to change a Standard Collision $500 deductible (deductible applies regardless of fault) to a Broad Collision $500 deductible (deductible applies to at-fault accidents only) was a little over $50/yr more. For me, I would pay the additional to avoid the hassle of recouping my deductible (if possible) for not-at-fault accidents.

 

Ultimately the choice is yours as far as whether or not the reduce eliminate coverage on your vehicle. Be smart, look at the options before you jump in!

 

Contact Us!

At M. Vander Plow Insurance Agency, we can work with you to make sure you’ve got the coverage you need, while at the same time using all possible credits and discounts to make that coverage affordable. Just give us a call at 616-396-1497 or send us a note at marsiljeins@gmail.com. We want to help you meet your goals, and make sure what’s important to you is protected!

Categories: Uncategorized