Factors to Consider Before You File a Claim
Factors to Consider Before You File a Claim
Most of us have had insurable homeowner's or automobile losses at one time or another and wondered whether or not to file a claim. The two questions that run through one's mind during such trying times are fairly uniform - If I file a claim will my insurer raise my rates? Or - will they drop me like a hot potato?
Often, small claims under $500 may not affect your individual premiums if they are few and far between. Insurers vary, however, in their underwriting of accounts with losses, particularly "at-fault" losses. Two or three claims a year on a given policy will signal to most insurers that you are a problem insured. To complicate matters, you need to consider the effect of even one claim on your ability to obtain insurance elsewhere. Some companies take a long hard look at any applicant who has had claims with their current or previous carriers in the past three years. For our clients living in Chantilly 20151, South Riding 20152, Brambleton / Ashburn 20148, and Aldie / Stone Ridge 20105, we always engage in a meaningful discussion before proceeding further with filing a claim.
Consumer watchdog groups have been critical of one method used by most insurers in the underwriting process for personal lines applicants - the use of a shared database called CLUE (Comprehensive Loss Underwriting Exchange). This database is tapped by insurers not only to investigate the person or persons behind the application, but in the case of homeowner's insurance, the property as well. Participating insurers report all claims, large and small, even ones not resulting in a payout. Realtors hate this system because it often signals problems with properties that they feel unnecessarily complicate a home sale. You need to know that your record is affected by the reporting of the claim much in the same way that your credit is affected by late payments or financial default. South-Riding-Insurance and Loudoun-Insurance are equally affected by this database.
So when should you file a claim with your auto or homeowner's insurance? Common sense says if the repairs cost less than the deductible, you're better off paying for the repairs on your own. With this in mind, you may even want to consider taking a higher deductible on your insurance to lower your rates. Take the money you save on the lower rates and deposit it into a savings account. In the event you are involved in an accident, you will have the money for the repairs even if the cost is slightly higher than your deductible.
If you have an automobile accident and there is another car involved, or there is someone else in the car with you, you definitely need to let your insurance company know about the accident - regardless of deductible or repair costs. Same with a third party slip and fall in your home. This protects you and your insurance company, as you can never be certain if the other driver, additional passenger or any other third party will decide to file a claim at a later date. When someone else is involved, it is important to get your side of the story on record with your insurer and, in many cases, the police as well. Keep in mind that each claim scenario is different and has different implications for you as an insured. If your windshield cracks as a result of a stone hitting it on the highway, your insurer will consider it an "act of nature" and will not assign fault to you as the driver. On the other hand, if the damage is only slightly higher than the deductible and the claim comes close on the heels of another recent and more serious claim, you may do well to bite the bullet and pay the difference out of your own pocket. We, at NOVA Insurance Group (in South Riding, VA 20152) can help you assess the likely costs and benefits of filing a borderline claim. It is important to note that policy language varies from company to company with respect to your responsibility to report a claim, i.e. information needed, timeliness of reporting, etc. Read the policy carefully and consult with your agent any time a significant property loss occurs and/or a threat of legal action or actual lawsuit develops. Do not let indecision or carelessness prejudice your ability to rely on the coverage you may one day desperately need.
Labels: Ashburn homeowners insurance, Ashburn Property Insurance, Brambleton Homeowners Insurance, Leesburg Homeowners Insurance, Leesburg Property Insurance, Stone Ridge Homeowners Insurance
Candle Fires Present a Burning Problem
Candle Fires Present a Burning Problem
The National Fire Protection Association (NFPA) estimates that in 2005, the most recent year for which statistics are available, candles caused at least 15,600 home fires (Property / Homeowners Insurance losses), accounting for 4 percent of all reported home fires that year. These fires resulted in an estimated 150 deaths, 1,270 injuries and direct property losses totaling $539 million, including in Fairfax (Chantilly) and Loudoun Counties (South Riding) - ZIP 20151, 20152, 20147, 20148, 20105, 20170, 20171, 20120, 20121, 20175, 20176 etc.
Most common causes of candle fires:
-50 percent were caused when combustible material was placed too close to a lit candle.
-18 percent were caused when a lit candle was left unattended.
-12 percent were caused when someone fell asleep while a candle was still burning.
NFPA data shows that 38 percent of all reported candle fires started in the bedroom. However, the living room, family room, and den were most often the scene of deaths caused by candle-related fires. Why is the number of candle-related fires so high? It has grown in direct proportion to the increase in candle usage in this country. The National Candle Association (NCA) estimates U.S. retail sales of candles at approximately $2 billion annually, excluding sales of candle accessories.
www.south-riding-insurance.comTo help keep consumers safe while enjoying their candles, the NCA offers the following tips:
- Keep a burning candle within sight. Extinguish all candles when leaving a room or before going to sleep.
- Move burning candles away from furniture, drapes, bedding, carpets, books, paper, flammable decorations, etc.
- Do not place lighted candles where they can be knocked over by children, pets or anyone else.
- Trim candlewicks to ¼ inch each time before burning.
- Use a candleholder that is heat resistant, sturdy and large enough to contain any drips or melted wax.
- Place the candleholder on a stable, heat-resistant surface.
- Keep the wax pool free of wick trimmings, matches and debris at all times.
- Don't burn a candle longer than the manufacturer recommends.
- Keep burning candles away from drafts, vents, ceiling fans and air currents to prevent rapid, uneven burning, and avoid flame flare-ups.
- Burn candles in a well-ventilated room.
- Stop burning a candle when 2 inches of wax remains or ½ inch if in a container.
- Never touch a burning candle or move a votive or container candle when the wax is liquid.
- Never use a knife or sharp object to remove wax drippings from a glass holder because it might scratch, weaken, or cause the glass to break upon subsequent use.
- Use a candlesnuffer to extinguish a candle so hot wax doesn't splatter.
- Never extinguish candles with water because it may cause the hot wax to splatter.
- Use flashlights and other battery-powered lights during a power failure.
- Make sure a candle is completely extinguished and the wick ember is no longer glowing before leaving the room.
- Extinguish a candle if it smokes, flickers repeatedly, or the flame becomes too high.
- Never use a candle as a night-light.
www.loudoun-insurance.comLabels: Ashburn homeowners insurance, Ashburn Property Insurance, Leesburg Homeowners Insurance, Leesburg Property Insurance, Loudoun homeowners insurance, Loudoun Property Insurance
Could Your Old Furnace Be Deadly?
Could Your Old Furnace Be Deadly?
An old furnace is like an old friend, and like an old friend; you know all of its quirks. You recognize that reassuring hum and know that means everything is running smoothly. You can just as easily detect the telltale sounds that something may be wrong. But problems with your furnace may not be as obvious as you might think. It could be sending up a little more than heat to permeate your home without your ever suspecting. That little "extra" might be a lethal dose of carbon monoxide. This could be happening in the older Chantilly (Fairfax County) or newer South Riding, Ashburn, Leesburg, and Brambleton (Loudoun County) properties.
Carbon monoxide is a colorless, odorless, poisonous gas, produced by incomplete burning of carbon-based fuels like oil. When it gets into the body, the carbon monoxide combines with chemicals in the blood and prevents the blood from delivering oxygen to cells, tissues and organs.
These body parts need oxygen to function; so prolonged exposure to carbon monoxide can cause serious health effects. After only a limited exposure, you and your family can get severe headaches, experience shortness of breath, become dizzy, mentally confused, nauseated, or feel faint. Long-term exposure can be fatal or at a minimum lead to chronic health problems. Since many of these symptoms are similar to those of the flu, you may not suspect that carbon monoxide poisoning is the cause.
What can you do to protect yourself? The U.S. Consumer Product Safety Commission (CPSC) urges consumers to have a professional inspection of all fuel-burning heating systems, including furnaces, boilers, fireplaces, water heaters, and space heaters. Your oil or gas supplier should perform this service on a yearly basis as part of your maintenance contract. If you do not have a maintenance contract, find a heating professional licensed to do this type inspection in your local telephone directory.
When they perform the inspection, ensure that they complete the following:
Check all furnace safety and operating controls for proper operation.
Check the vent for adequate draft.
Inspect combustion chambers and heat exchangers to see that they are functioning correctly.
Oil the motors, if applicable.
Inspect fan belts for wear and tension and replace them if necessary.
Examine the pilot light, if applicable.
Inspect furnace filters and change them as needed.
Check for leaks and repair them immediately.
The CPSC also recommends that the inspection include checking chimneys, flues and vents for leakage or blockage by debris, and to make sure that they are not loose or disconnected. Birds and other animals can build nests in chimneys resulting in blockages that cause deadly exhaust to enter your home.
To be safe, every home should have a carbon monoxide alarm in the hallway near bedrooms. The CPSC recommends that your alarm meet one of these standards: Canadian Standards Association 6.19-01, 2001; Underwriters Laboratories Inc. 2034, Second Edition, October 1998; or the International Approval Services 6-96, Second Edition, June 1, 1998. It's also a good idea to check the batteries in your alarm monthly and to replace them twice a year when you change your clocks in the spring and fall.
Labels: Ashburn homeowners insurance, Ashburn Property Insurance, Fairfax Homeowners insurance, Fairfax Property Insurance, South Riding homeowners insurance, South-Riding property insurance
