Some of my clients have recently been asking me if they could lower their coverage on their home because their home has decreased in value. I always take the time to review their insurance coverages with them and make sure we have all of the correct details of their home in the policy and if it ends up changing the reconstruction cost to a lower amount then thats okay, but most of the time it stays the same or even increases.
According to many sources out in the insurance world, it is NOT a wise idea to lower the reconstruction cost of your homeowners insurance. Although it seems like the right thing to do because of the decreasing value of the home, the homeowners insurance coverage is based on the amount to reconstruct your home or replace, not its market value. In fact the cost to rebuild your home now is probably more than when you first purchased your home because the cost to manufacture materials and ship them to the place of purchase has risen along with everything else.
The main reason most people want to lower coverage is to lower the premium that they have to pay every year but there are other ways you can save money. If your company offers multi line discounts (auto/home/life), consider getting a quote on the other lines and you may find that you will get a better deal on the other line of insurance along with lowering your current policy premium. I also recommend to my clients to increase their deductible to lower the premium, this way you take on a few hundred or a thousand more of the risk on your end rather than having to pay out many thousands out of your own pocket if you dont have enough coverage on your home.
If you would like a quote or more information on homeowners insurance, please dont hesitate to contact my agency and we will make sure you and your family are covered properly in the event of a loss. Thanks for reading my blog.
Jonathan Ekno
www.EknoInsurance.com
714-257-2517
Monday, February 21, 2011
Monday, November 8, 2010
How to Deter Theft To Your Car
Fortunately not a lot of my clients deal with car theft on a daily basis but it does happen. Car theft and vandalism is the second most common form of an insurance loss in the insurance industry, first is car accidents. I have attached a few tips on how to avoid car theft so that you can take the correct steps in the future.
Having your car stolen brings on a terrible violated feeling. To most of us our car is second only to our home as a private space. You should know your license plate number and VIN (vehicle identification number). If your vehicle is stolen, report the theft to the police immediately. Secondly, report the theft to your insurance carrier. There are some things that can be done to prevent the theft. If you have ever been the victim of a car theft, you will want to know them and if you are not, maybe they will keep you that way.
-Never leave your car unattended and running to dash into a store or perform some other urgent mission.
-Never leave the key in the ignition or anywhere in the car, in a locked garage or in one of those little hideaway boxes. Car thieves are familiar with all of the hiding places, including the one you think you invented.
-Always roll up all windows and lock all doors even if the car is parked in front of your house or in your own driveway.
-Never leave valuables, gift packages or items in store shopping bags in plain sight, even if the car is locked. Put the items in the trunk out of sight. This is also true for pickup trucks with camper shells. They are amazingly easy to open.
-Always park in brightly illuminated high traffic areas if at all possible. Thieves prefer to work unobserved.
-Install a mechanical device that locks the steering wheel, the steering column or the brakes. These devices can be defeated, but they will deter the less experienced car thieves. If you own one of the frequently stolen vehicle models or a high end easity sold vehicle, consider purchasing a vehicle theft tracking/security system.
-Never leave personal identification documents, vehicle ownership title, or credit cards in your vehicle even when it is locked. You may not detect the loss of some papers until you have already been the victim of some form of identity theft.
-If you live in a high theft area, you should etch the VIN (vehicle identification number) on windows, doors, fenders and trunk lid. A thief will recognize that the car will be difficult to sell even for parts.
-Many newer vehicles have or can be upgraded to have a security system
installed at the factory, with the best systems being those that shut off the fuel supply, preventing the car from being started or driven.
-And one bonus tip, that socket to unlock your custom rims shouldn’t be left in the glovebox, hide it and leave yourself a note in the glovebox on where to find it.
I hope this helps. Let me know if you ever have any other questions. When think about insurance, think about Ekno Insurance Group for all ofyour insurance needs.
www.eknoinsurance.com
Having your car stolen brings on a terrible violated feeling. To most of us our car is second only to our home as a private space. You should know your license plate number and VIN (vehicle identification number). If your vehicle is stolen, report the theft to the police immediately. Secondly, report the theft to your insurance carrier. There are some things that can be done to prevent the theft. If you have ever been the victim of a car theft, you will want to know them and if you are not, maybe they will keep you that way.
-Never leave your car unattended and running to dash into a store or perform some other urgent mission.
-Never leave the key in the ignition or anywhere in the car, in a locked garage or in one of those little hideaway boxes. Car thieves are familiar with all of the hiding places, including the one you think you invented.
-Always roll up all windows and lock all doors even if the car is parked in front of your house or in your own driveway.
-Never leave valuables, gift packages or items in store shopping bags in plain sight, even if the car is locked. Put the items in the trunk out of sight. This is also true for pickup trucks with camper shells. They are amazingly easy to open.
-Always park in brightly illuminated high traffic areas if at all possible. Thieves prefer to work unobserved.
-Install a mechanical device that locks the steering wheel, the steering column or the brakes. These devices can be defeated, but they will deter the less experienced car thieves. If you own one of the frequently stolen vehicle models or a high end easity sold vehicle, consider purchasing a vehicle theft tracking/security system.
-Never leave personal identification documents, vehicle ownership title, or credit cards in your vehicle even when it is locked. You may not detect the loss of some papers until you have already been the victim of some form of identity theft.
-If you live in a high theft area, you should etch the VIN (vehicle identification number) on windows, doors, fenders and trunk lid. A thief will recognize that the car will be difficult to sell even for parts.
-Many newer vehicles have or can be upgraded to have a security system
installed at the factory, with the best systems being those that shut off the fuel supply, preventing the car from being started or driven.
-And one bonus tip, that socket to unlock your custom rims shouldn’t be left in the glovebox, hide it and leave yourself a note in the glovebox on where to find it.
I hope this helps. Let me know if you ever have any other questions. When think about insurance, think about Ekno Insurance Group for all ofyour insurance needs.
www.eknoinsurance.com
Wednesday, September 15, 2010
Importance of Having Life Insurance
September is Life Insurance Awareness Month! Do you have any life insurance for you or your family?
Life insurance is important because it protects the most important asset to you and your family, YOU. I always ask my clients if they have life insurance just to get the conversation started and the most common statement is "Ya I have life insurance, its through my job." That's great if you have a job that offers life insurance for you but how much do they offer, who is the beneficiary, and does it stay with you if you quit or are let go? These are all very important questions to ask yourself and if you don't have life insurance, what are you waiting for?
I have my clients write the word DIME out.
Debt
Income
Mortgage
Expenses/Education
Debt-How much debt do you have under your name?
Income- How much do you make annually?
Mortgage- How much in mortgage do you have left?
Expenses/Education- How much in final expenses do you expect to have, and if you have children, how much in education do you plan spending for your children either through high school or college?
Add all of these up and you should have at least that amount in life insurance and if you don't it would be wise to start thinking about that. There are different types of life insurance policies out there. I will post another blog getting into detail of the different policies to choose from. A lot of people don't have life insurance because they think its too expensive but in reality, there is a policy out there for you that you can afford especially if you think about the risks for you and your family if you don't have a life policy. Give me a call or email if you would like more information on some different life insurance policies out there and perhaps get a free no obligation quote prepared for you and your family.
www.eknoinsurance.com
Life insurance is important because it protects the most important asset to you and your family, YOU. I always ask my clients if they have life insurance just to get the conversation started and the most common statement is "Ya I have life insurance, its through my job." That's great if you have a job that offers life insurance for you but how much do they offer, who is the beneficiary, and does it stay with you if you quit or are let go? These are all very important questions to ask yourself and if you don't have life insurance, what are you waiting for?
I have my clients write the word DIME out.
Debt
Income
Mortgage
Expenses/Education
Debt-How much debt do you have under your name?
Income- How much do you make annually?
Mortgage- How much in mortgage do you have left?
Expenses/Education- How much in final expenses do you expect to have, and if you have children, how much in education do you plan spending for your children either through high school or college?
Add all of these up and you should have at least that amount in life insurance and if you don't it would be wise to start thinking about that. There are different types of life insurance policies out there. I will post another blog getting into detail of the different policies to choose from. A lot of people don't have life insurance because they think its too expensive but in reality, there is a policy out there for you that you can afford especially if you think about the risks for you and your family if you don't have a life policy. Give me a call or email if you would like more information on some different life insurance policies out there and perhaps get a free no obligation quote prepared for you and your family.
www.eknoinsurance.com
Tuesday, August 3, 2010
Importance of having the Right Amount of Auto Insurance
In the state of California, every motorist is required to carry bodily injury and property damage liability. Bodily injury liability provides funds for medical expenses, lost wages and pain and suffering if you are responsible for injuring someone in an auto accident. The minimum coverage amounts under California law are $15,000 for bodily injury per person, $30,000 for bodily injury per accident. Property damage liability provides funds to pay for damages to another motorist's car if you are found liable for an accident. The minimum liability limit for property damage is $5,000.
It is important to realize that these limits are the maximum amount of money your insurer will pay out if you are responsible for an accident, and may not be enough to cover damages for which you are responsible. This is the reason you need to choose the right insurance professional to advise you on what limits you need to make sure your assets are protected in the event of a loss.
If you are in an accident and you are at fault you can be held personally responsible for the costs of medical bills if a person is injured and major monetary awards if a person is killed. These costs can all but ruin most families. It can mean selling your home, selling your stocks and bonds, or selling other assets in order to pay the costs. It can also mean years of future payments in the event you cannot pay them all at once. Depending on the amount of the damages, you could spend the rest of your life paying them off.
In addition, depending on the type of car insurance that you have, your vehicle can be repaired or replaced, thus saving you the out of pocket expense of replacing it yourself. The last reason for having the correct amount of car insurance has to do with repair of the other vehicle if you hit someone. As you know, vehicle repairs can be very expensive. If you are shown to be at fault in an accident you may be required to pay for the repairs or the replacement of the vehicle that you hit. Again, this is money that has to come out of your pocket. As an aside to this, you are also responsible for any property damage that you might cause. For example, if you run into a house and cause a wall to collapse, you would be required to make payment for those repairs. One single accident can force you into bankruptcy court if you are not protected by car insurance.
If you or anyone you know have any questions regarding these issues or any other insurance issues, please dont hesitate to contact the Ekno Insurance Agency.
877-472-2517
www.eknoinsurance.com
It is important to realize that these limits are the maximum amount of money your insurer will pay out if you are responsible for an accident, and may not be enough to cover damages for which you are responsible. This is the reason you need to choose the right insurance professional to advise you on what limits you need to make sure your assets are protected in the event of a loss.
If you are in an accident and you are at fault you can be held personally responsible for the costs of medical bills if a person is injured and major monetary awards if a person is killed. These costs can all but ruin most families. It can mean selling your home, selling your stocks and bonds, or selling other assets in order to pay the costs. It can also mean years of future payments in the event you cannot pay them all at once. Depending on the amount of the damages, you could spend the rest of your life paying them off.
In addition, depending on the type of car insurance that you have, your vehicle can be repaired or replaced, thus saving you the out of pocket expense of replacing it yourself. The last reason for having the correct amount of car insurance has to do with repair of the other vehicle if you hit someone. As you know, vehicle repairs can be very expensive. If you are shown to be at fault in an accident you may be required to pay for the repairs or the replacement of the vehicle that you hit. Again, this is money that has to come out of your pocket. As an aside to this, you are also responsible for any property damage that you might cause. For example, if you run into a house and cause a wall to collapse, you would be required to make payment for those repairs. One single accident can force you into bankruptcy court if you are not protected by car insurance.
If you or anyone you know have any questions regarding these issues or any other insurance issues, please dont hesitate to contact the Ekno Insurance Agency.
877-472-2517
www.eknoinsurance.com
Monday, August 2, 2010
My First Blog
Hello everyone. This is my first blog post and I am excited about starting to write about real issues and resolutions in the insurance world. I hope everyone can take something out of the future blogs. Talk to you soon.
www.eknoinsurance.com
www.eknoinsurance.com
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