The Real Scare of Halloween: Why You Need Homeowners Insurance with Liability
When considering a homeowners’ insurance policy, it is imperative to consider personal and family liability protection as part of the policy. Accidents happen, and you need to be proactive about your coverage before it’s too late. With Halloween being right around the corner and increased liability and property damage risks, not having a comprehensive insurance policy can be scarier than Halloween and here’s why:
Trick-or-Treaters on Your Property
According to the National Retail Federation, 69% of Americans plan to hand out candy to trick-or-treaters on Halloween to celebrate. If you have your porch lights on, you are welcoming people onto your property, and this can pose a number of risks. While giving out candy and complimenting kids on their costumes is a fun tradition, if a trick-or-treater hurts themselves on your property, you could face serious consequences such as legal fees, medical fees, and more. Some common liability incidents that occur each year include, but are not limited to: trick-or-treaters tripping on homeowners’ sidewalks or falling because of bulky costumes, children having allergic reactions to candy or other sweet treats, and pets getting spooked by the unfamiliar visitors and causing harm. Hand out candy worry-free this year knowing you’re covered if a mishap occurs.
Accidents at Parties
Pumpkin carving contests and alcohol are popular elements at any Halloween party, but are also accident-prone elements. Sharp tools used to carve pumpkins and burning candles to light up jack-o’-lanterns are obvious risks for party participants, but did you know that you could be held responsible and face serious consequences if one of your alcohol-infused guests causes harm to someone else’s property or to another person? In addition, without liability insurance, you could face serious consequences if an underaged party guest gets a hold of alcohol. Host Halloween parties with confidence knowing you won’t have to face haunting repercussions.
Spooky Season Pranks
It is undeniable that the number of pranks and damage to personal property spike during spooky season. In fact, there are 17% more insurance claims for theft and vandalism on Halloween versus any other day of the year. If your personal property is not protected, you could be fronting the costs of fixing car vandalism, repairing damage to your home, replacing smashed mailboxes, and more. In addition, if you plan on decorating your home or dressing up to surprise trick-or-treaters, be sure to keep it reasonable as motion-sensored decorations and scary costumes can easily frighten children, causing them to run away or hurt themselves and suffer from physical or mental distress at your expense. It’s spooky out there– make sure you’re covered.
Consider these risks this season and don’t let a liability mishap haunt you. Make sure your homeowner’s insurance policy includes liability coverage to protect you and your family. We want you to have an enjoyable fall season with a peace of mind knowing that if something happens, we’ve got you covered. If there’s something strange in your neighborhood, don’t call the Ghostbusters, call Penny Insurance Agency! We’re here to help.
https://www.insurancejournal.com/news/national/2016/10/31/430898.htm https://www.esurance.com/info/homeowners/family-liability-protection-and-homeowners-insurance https://thenitschegroup.com/halloween-insurance-risks/#.Xam3_udKjUo
It’s that time of the year again! The cold air, snow, lights, decorations and delicious food, make us wish this season could be year-round. More importantly though, it’s a time where families can gather together once again. Travel rates during this time of year tend to increase, as everyone is visiting family. Last year in 2017, it was estimated that roughly 100 million Americans were planning to travel, whether that was to see family or go on vacation.* Whereas driving may be cheaper, many people opt to fly because it is often quicker and more efficient. Although some people tend to prefer private aviation because of the convenience and privacy it offers, private aviation is much more dangerous than flying commercially.**
Aviation insurance differs greatly from personal home and auto insurance, but insuring your aircraft and your safety is just as important. Choosing the best insurance provider will not only protect your aircraft business, but more importantly all the passengers on the plane. It will also cover third parties involved in aviation accident like the people injured during the crash, any crops or buildings that are ruined by the plane and the properties that are damaged because of the accident.***
With all the risks associated with flying, we have listed below a few insurance options you may want to consider when purchasing private aviation insurance.****
- Owners Aircraft Insurance
- If you’re the owner of an aircraft, we highly suggest the Owners Aircraft Insurance, which covers aircraft categories such as jets, airplanes, seaplanes, turbines and air gliders… just to name a few. It’s also mandatory to have in-flight Insurance since this specific type of insurance will cover the liabilities incurred by the plane during accidents in the air as well as incidents that occur on the ground.
- Hangar Insurance
- As an owner, you should consider purchasing Hangar Insurance to secure the locations where you park your plane. Additionally, the owner also has the option to get Hangar Keepers Insurance, which includes the personnel who maintains your aircraft and their safety benefits.
- Renters Aircraft Insurance
- If you are a renter of planes, acquiring Renters Aircraft Insurance would allow you to protect yourself and your beneficiaries in time of an accident.
- Non-Owned Insurance
- If you are a student learning to fly various aircrafts, it is mandatory for the schools to get non-owned insurance to protect the students if something goes wrong during the course of training.
Although purchasing private aviation insurance can be extremely costly, it’s extremely vital and worth having. Further, after you have done your research determining which insurance is right for you, your insurance company can help offer you rates and pick out the correct insurance option that suits your budget.
While private aviation provides you with maximum travel freedoms, it can also bring about numerous liability concerns. Let us develop a comprehensive coverage plan for your unique travel accommodations. Contact us today so we can help you soar the skies with peace of mind!
With October 31 quickly approaching next week, the Halloween craze has certainly set in. Decorations have popped up in every corner, carved pumpkins are on the front porch, fake tombstones and witches in the yard, skulls on the ground…it really is quite a scary site. However, the monsters, costumes and decorations aren’t the only things you should be afraid of during Halloween. Liability issues should also be a major concern. Listed below are just a few reasons why you should ensure that your insurance policies are prepared to handle any horrors that may present themselves.*
- With all the decorations lying in the yard, it’s only a matter of time before a child trips on something and hurts himself. Some of the more popular Halloween costumes for kids are princesses, witches or super heroes. Most of these costumes involve capes, masks, or even full-body suits which are sometimes too big, which can cause a child to trip walking up the steps to retrieve candy. According to Moneytips, the liability portion of your homeowner’s policy will generally cover these types of accidents. However, it is important that you remove any potential danger or threat from your walkway on which a child could trip and get injured. If your decorations present a danger to trick-or-treaters, your insurance may not cover the damages.
- It is important to note that although your dog may be very friendly to you or other people it knows well, children can often startle dogs, especially at night, which could lead to them biting out of fear. Dogs are especially afraid of loud noises and generally get scared or protective when they see a large group of people approaching on their territory. Stressed or nervous pets are more inclined to bite and scratch, and hearing loud and excited kids dressed in many different types of strange costumes coming to the front door will surely startle the dogs. So, for the sake of the neighborhood children, and your liability insurance premiums, be sure to restrain and confine your pets on Halloween. Keeping them away from children in a crate, for example, will prevent severe liability risks for homeowners.
- Accidental Fires
- Candles certainly do create a spooky atmosphere for Halloween, but they are also a huge liability issue for homeowners. During this night, you will often see candles lining the pathway to the front door or they will be lighting up jack-o-lanterns. This spooky effect is also a safety factor, but ironically, lit candles pose an enormous risk for these people. Generally, a homeowner’s policy will cover repairs and living expenses during the repair period, unless the fire was caused irresponsibly or on accident. To prevent accidental fires, LED lights come highly recommended.
It is important that your insurance policies are ready for any potential liability issues that can occur this Halloween. If you are not exactly certain what your homeowner insurance policy covers, contact us at Penny Insurance because we can help you. Give us a call today to connect with an agent to discuss your coverage options.
The last two decades have been dominated by technology; we have become completely immersed and dependent on it. One of the largest effects technology has had on society has been a change in communication. We no longer communicate face-to-face; it’s all carried out via texting, talking on the phone, through social media applications or direct messaging. Because communication can be performed this way, it is no longer necessary to schedule an appointment with someone in person because it can just as easily be carried out through a phone call or an email which certainly adds a factor of convenience.
This digital age has transformed society from a standpoint of accessibility; everything is easier and oftentimes faster. Daily responsibilities and tasks such as payments, transportation, dating and even communication in general can be performed digitally. Wouldn’t you rather complete a task in 30 minutes than in two hours? Why spend more time on something when it can be completed in less amount of time? We, as consumers, enjoy convenience, and the primary goal of technology is to make life easier, and that it does… hence the phrase of having everything at the “tips of your fingers.”
Not surprisingly, because of this convenience factor, young adults make up the highest number of digital users. UNICEF’S State of the World’s Children 2017: Children in a Digital World report* revealed that one in three internet users is younger than 18 years and 71% of 15–24-year-olds are online. Further, according to Chubb Insured**, 53 million young professionals, born between the years of 1981 and 1992, manage more and more of their business digitally. Based on recent reports from Statista, 77% of the US population has a social media account / profile.*** Over ¾’s of our country’s population is online!
Although these new ways of conducting business have proven to be more efficient and therefore convenient, they are also associated with dangerous risks, such as financial loss, a damaged reputation and legal problems. The reliance that young professionals place in technology is very risky. However, certain types of insurance can assuage these negative effects of living and working in a primarily digital age. By purchasing cyber liability insurance, you can protect your yourself and your company’s valuable information. This is the only type of insurance created specifically for the event of electronic data theft. If you don’t properly monitor your digital channels, you can even become the victim of identity theft, incur travel/transportation-related risks as well as failing to attain renters’ and other non-compulsory insurance.
Even though this age group forms the largest demographic of users, their knowledge on the power of technology is insufficient, which would explain the increasing number of hazardous occurrences among this group. In order to avoid such dangers, young professionals must educate themselves on the many risks that exist in today’s digital world. It’s imperative that they can identify these risks and know how to avoid them. These young professionals need to seek out the advice of an expert to teach them about the insurance solutions. Experienced professionals in this industry can help instruct them on these dangers of an ever-growing digital society and how to decrease these potential risks.
It is absolutely crucial that this generation stay informed on the liabilities and effects of using technology in the workplace. Just because something is easy or convenient does not mean that it is the safest course of action. We at Penny Insurance can help you. Give us a call today to connect with a Penny Insurance agent to discuss your coverage options.
HENDERSONVILLE, N.C.—Penny Insurance Agency will now represent Privilege Underwriters Reciprocal Exchange (PURE) Insurance. PURE Insurance focuses exclusively on the high net worth personal lines insurance market.
“Our decision to represent PURE Insurance allows us the opportunity to service another market for high net worth,” Will Penny, President of Penny Insurance Agency, said. “PURE Insurance is the pinnacle of property and casualty insurance for the high net worth marketplace. Being an independent insurance agency, we wanted to offer our clients the best possible options rather than just one company.”
About Penny Insurance Agency
Penny Insurance Agency is an independent insurance agency serving Western North Carolina and Upstate South Carolina, specifically Tryon, Hendersonville, Asheville, Landrum, Campobello and Spartanburg and is licensed in multiple states. Founded in 1931 with a mission to provide the very best insurance protection at the most affordable price, Penny Insurance is still serving as a leading independent insurance agency for families and businesses. Contact Penny Insurance Agency at its website or by calling 828-692-9171. Connect with Penny Insurance Agency on Facebook and Twitter.
About PURE Insurance
Privilege Underwriters Reciprocal Exchange (PURE) is a member-owned reciprocal insurer dedicated to creating an exceptional experience for responsible high net worth individuals and families. PURE provides customizable coverage for high-value homes, automobiles, jewelry, art, personal liability, watercraft, flood, fraud and cyber fraud to more than 75,000 responsible, high net worth families throughout the U.S. Inspired by some of the finest policyholder-owned companies, PURE emphasizes alignment of interests and transparency.
PURE’s low cost of capital, careful member selection and proactive risk management all contribute to highly competitive rates. In return for a fee, PURE Risk Management, LLC acts as Attorney-in-Fact for PURE. PURE membership is subject to an executed Subscriber’s Agreement & Power of Attorney. For more information or to find a local broker, visit pureinsurance.com. You can follow PURE on Facebook, Twitter, LinkedIn and Instagram.
Legal, Medical and Emerging Trends Affecting Liability Losses
In the past few years, there are a number of legal and medical issues that, when combined, have driven liability costs even higher. We partnered with our friends at Liberty Mutual Insurance to explain some of the elements that are causing liability costs to rise as well as a few steps to keep you and your loved ones protected at the best value.
Escalating Verdicts—Cases going to trial result in higher paid costs. While headlines have focused on auto liability, we see this impacting general liability as well.
Litigation Funding—Outside investors are fronting legal fees, resulting in more cases going to trial, which can drive up claim severity.
Traumatic Brain Injury—Plaintiff attorneys are including TBI at the onset of claims, leading to more medical costs and life care plans. TBI claims have grown in recent years.
Medical Inflation—In recent years there has been a two percent increase in medical inflation, a 2.4 percent increase in prescription drug inflation and a 5.6 percent increase in hospital cost inflation.
Opioids—Average costs are higher when patients are dependent on opioids. New opioid treatments and other newer risks facing businesses today can create challenges for employers if not managed effectively.
Wellness—The aging population and overall decline of our health and well-being is putting pressure on costs. The increase in co-morbidities and preference for non-surgical and non-opioid treatments are driving use of physical medicine therapies.
Inability to Manage Medical—Unlike workers compensation claims, insurance carriers have little influence on how medical insurance is managed.
Violent Events—Active shooters and other crisis situations are causing organizations to re-assess their risk and readiness.
Technology—Data and technology are disrupting how we do things. From A.I. (artificial intelligence) and autonomous vehicles to data-driven environments, these advancements can help us be safer, but not without risk. Technology-sensor-loaded gear in the form of vests, glasses, gloves and more, may help improve workplace safety and productivity. But, it’s also in its infancy, so you should review information carefully and identify objectives and potential impacts before moving forward.
Sharing Economy—The lack of clarity in where coverages begin and end in the sharing economy is driving the need for custom insurance solutions.
What Can You Do?
Partner with an insurance carrier who understands your industry and your unique risks and can create a tailored solution specific to your business.
Get extra protection when you need it most. Make sure you have appropriate umbrella and excess liability coverage.
Disaster preparedness planning can help you identify vulnerabilities and dependencies in the event disaster strikes.
Expert claims management for the best possible outcome can impact your total cost of risk.
Risk control resources and a packed calendar of webinars and in-person training to help you identify and mitigate risk. Topics include contractual risk transfer, industry-specific risk improvement tools, product liability and more.
With an ever-evolving landscape, liability insurance can be difficult to navigate. Here at Penny Insurance Agency, your peace of mind is our priority. Give us a call today to connect with a Penny Insurance agent to discover your best liability coverage options.