Monday, December 29, 2014

Review Your Insurance for the New Year

With the start of 2015 comes New Year's resolutions. Maybe you want to eat healthier, exercise more or save more money this year. One thing you may not be thinking about is your Lake of the Ozarks insurance coverage. It is important to take a look at your personal insurance policy at least once a year to make sure that you're covered for anything that may come up throughout the year. Here are some things to think about in regards to your insurance.

Homeowner's Insurance

Do you have adequate coverage on your home and personal property? Reflect on the past year and determine if you've made any major home purchases or anything else that might create a hole in your coverage. Some common issues found when looking over a homeowner's current policy include: rebuild costs are underestimated, co-insurance is inadequate, personal property is undervalued and personal effects are not inventoried and/or not covered.

Did you receive any expensive jewelry for Christmas this year? Jewelry, paintings, furs and other collectibles may not be covered adequately on your basic homeowner's insurance policy. At Insure the Lake, we will review your current policy and give you a household inventory to make sure you don't underestimate your possessions.

Car Insurance 

How much are you paying for your car insurance at the Lake of the Ozarks? Do you have full coverage or just liability insurance? At Insure the Lake, we'll take a look at your existing policy and help determine if you have the right coverage at the right cost! There's a possibility you could get a discount for being a good driver, being a good student or driving a safe car. Other advantage you could be missing out on might be free windshield repair, 24-hour claims hotline, guarantee on repairs or flexible payment options.

Health Insurance

The health care reform has had a massive impact on the health care system in the United States. If you haven't taken a look at your Lake of the Ozarks health insurance coverage since the changes took effect, now is the time to do so. Open enrollment for 2015 has already started and will run through February 15, 2015. For information on the Affordable Care Act, check out our Health Insurance Enrollment FAQs blog. Insure the Lake can help you manage and analyze your existing medical benefits and future needs. We will perform a comparative analysis of your existing coverage to see if any adjustments can be made to better fit your individual or family coverage needs.

Life Insurance

Life insurance is an important part of everyone's overall protection plan. The first rule of life insurance is that it's not for you, it's for your loved ones. Should something untimely and unexpected happen to you, your family won't have the financial burden on top of everything else going on. Your Lake of the Ozarks insurance company can help you figure out how much coverage your family needs in order to maintain your current lifestyle. Then we'll search out the best coverage and pricing options to keep your family safeguarded.

Life happens and Insure the Lake is here to make sure you live protected! We specialize in all types of insurance policies from personal coverage to business insurance. If you own your own business, now is a great time to take a look at your Lake of the Ozarks business insurance coverage as well. Contact us at 573-348-2794 to schedule your appointment to take a look at your coverage as we head into the new year!

Steve Naught, CIC

3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

T: 573-348-2794
F: 573-348-0191

Tuesday, December 23, 2014

Cutting Insurance Costs

In our current economy, many individuals and businesses are looking for ways to trim expenses. Numerous businesses wonder how they can reduce their monthly insurance premiums at the Lake of the Ozarks. There is no easy answer to this question as each insured has a uniquely complex situation. If you are considering canceling your policies or eliminating coverages, it could be the worst decision you could make. There may be other options available to you.

Ways to Lower Your Premiums

If your business receipts or payrolls are down you may be able to request that the company endorse a lower estimation of these to the policies mid-year; however you can’t just lower the payroll estimate to get a lower premium. You will need to justify the changes and you will still be audited at the end of the policy period.

Other ways of lowering premium are to take on more risk yourself verses transferring it to the insurance company. One form of this would be increasing your deductibles. You could also review your insurance schedule and decide to self-insure some of your property and delete it from the policy. Keep in mind your bank will take issue with this if you have a loan on the property. We also see many insureds with vehicle schedules that contain full coverage on autos that are over ten years old. In some cases this makes sense, but in many it does not.

Lowering your coverage is risky, so try not to do it other than as a last resort. Business owners will likely continue to see a rise in slip-and-falls, theft, employee dishonesty, and fraudulent claims. Now is the time a claim will hurt you the most and could even cause the business to struggle due to a costly uninsured claim. Don’t put your family and business at risk by dropping your much needed insurance coverage at the Lake of the Ozarks.  It could be the worst thing you could do if you were to have a loss. Talk to your agent to discuss options that best suit your situation.

Steven Naught is a Certified Insurance Counselor with the Naught-Naught Agency. He can be reached at his friendly office at 573-348-2794. For all your Lake of the Ozarks insurance needs, contact Insure the LakeYou can have peace of mind. Contact us for a FREE quote request today!

Steve Naught, CIC

3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

T: 573-348-2794
F: 573-348-0191

Monday, December 15, 2014

Slip and Fall Prevention

Of the many causes of injury in the work place, slips and falls are one of the most preventable. As an employer or an employee, it is important that you take precautions for preventing slips and falls from occuring. In addition to the employer holding worker's compensation insurance at the Lake of the Ozarks, both the employer and employees can work together to make the workplace a safer environment. Here are some slip and fall prevention tips for you to consider:


The best way to prevent injuries from falls at work is with teamwork. Design your slip-prevention plan to include the following components:

  • Spill clean up 
  • Proper floor maintenance procedures
  • Suitable shoes for employees
  • Floor inspections
  • Appropriate use of mats and rugs
  • Implement accident response actions

Make sure that each person of the team knows how to clean up spills properly. Follow these basic steps:
  1. First, use regular paper towels to wipe up the spill. 
  2. If you're cleaning tile, rub an abrasive cleanser into the tile.
  3. Follow with hot water and a mop.

Mats & Rugs

Mats help keep grease or water from getting on the floor, and rugs are used in entryways to collect moisture and dirt from shoes. Honeycomb mats are great for dishwashing areas, around ice machines or on cooking lines. Rugs are perfect for breezeways, inside the front door or any public area which accumulates moisture, dirt or grease. It is important to keep all mats and rugs clean. Rugs should be changed out frequently, especially during snowy or rainy weather. Most mats can be cleaned with hot water and degreasing cleanser.


Stay safe at work by wearing anti-slip shoes. Did you know the most athletic type tennis shoes do not have the anti-slip tread needed when working around water and grease? Expensive basketball or other sports shoes do not work well at work. Instead, wear shoes with slip-resistant soles when working in areas where there is a possibility of grease or water on the floor. They come in many types, styles and sizes, and the cost is signigicantly less than the name-brand tennis shoes. Ask your supervisor where you can get the right shoes for the job! 

For all your Lake of the Ozarks business insurance needs, contact Insure the LakeYou can have peace of mind.  Contact us for a FREE quote request today!

Steve Naught, CIC

3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

T: 573-348-2794
F: 573-348-0191

Wednesday, December 10, 2014

What You Need to Know About Renters Insurance

Disaster can strike anywhere, unexpectedly and regardless of whether you own your home or rent, you still need to protect your personal property. Many renters do not realize that their landlord's insurance policy at the Lake of the Ozarks will not cover the belongings of their renters. The landlord's commercial rental dwelling insurance likely only covers the building structure and owner's liability, not the property and liability of the renter.

Why Renters Insurance? 

If you live in an apartment or a rented house, renters insurance at the Lake of the Ozarks provides important coverage for you and all your possessions. Your landlord's insurance will only cover the costs of repairing the building if there is a fire or other disaster. You need your own coverage in order to financially protect yourself and your belongings. In many cases of theft or damage, a standard renters insurance policy protects your personal property. It may even pay for temporary living expenses if your rental is damaged (including loss of use). Renters insurance can also shield you from personal liability. Anyone who leases a house or apartment should consider purchasing renters insurance coverage.

Coverage for Personal Possessions

You'll want to make sure you have enough insurance to replace all of your personal possessions in the event of a burglary, fire or other covered disaster.  Creating a home inventory is the easiest way to determine the value of all your personal possessions, including furniture, clothing, electronics, appliances, kitchen utensils and even linens. A home inventory is a detailed list of all your personal possessions, along with their estimated value. Keeping your home inventory up-to-date will make filing an insurance claim faster and easier.  If you have expensive jewelry, furs, sports or musical equipment, or collectibles, you should consider adding a floater to your policy. Most standard renters insurance policies offer only a limited amount for these valuable items, so you'll need additional insurance.

Liability Protection

In addition to protecting your personal possesions, renters insurance also provides liability protection that covers you against lawsuits for bodily injury or property damage done by you, your family memebers or even your pets.  This will cover not only the court costs, but also the court awards up to the limit of your policy.  You also have no-fault medical coverage with a standard renters insurance policy.  This coverage is only for injuries sustained by others while on your property and is not a subsitute for your own healthcare coverage.  If you need a large amount of liability protection, you can purchase additional coverage with a personal umbrella liability policy.

Personal Property Protection

A renters insurance policy provides named perils coverage, which means that your property is protected from all the perils that are specifically listed on your policy.  These perils typically include the following:
  • Fire or Lightning
  • Windstorm or Hail 
  • Explosions
  • Riots
  • Aircraft
  • Vehicles
  • Smoke 
  • Falling Objects
  • Theft
  • Vandalismor Malicious Mischief
  • Weight of Ice, Snow or Sleet
  • Accidental Discharge or Overflow of Water or Steam
  • Sudden and Accidental Damage from Artificially Generated Electrical Current
  • Volcanic Eruptions (but this does not include Earthquake or Tremors) 
Renters insurance coverage appies to your personal property no matter where you are.  Whether you're on vacation or at home, you're covered. 

Renters insurance from Insure the Lake is your solution. Our renters insurance at the Lake of the Ozarks cover the "contents" of an apartment, duplex, house or any other dwelling you call home. We'll help you inventory your belongings and set up a policy for the appropriate amount.  If disaster does strike, you want to know that you are properly insured!

Delivering all of your Lake of the Ozarks Insurance needs - Insure the Lake!

Steve Naught, CIC

3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

T: 573-348-2794
F: 573-348-0191

Thursday, December 4, 2014

Business Loss Control and Prevention

Whether your business is large or small, Insure the Lake will help you identify the unique hazards of your business and ways to properly insure against loss or liability. I understand the special insurance protection businesses need to prosper.  At this time of year, it is important to keep a watchful eye on seasonal hazards as part of your safety and loss prevention programs. Your Lake of the Ozarks insurance agent is here to help with these preventative maintenance tips!

Exterior Maintenance

Exterior building maintenance is important during all seasons, but colder weather can bring new challenges.  Accumulation of dried leaves can create a fire hazard with patrons tossing cigarette butts at entrances and exits.  Wet leaves can become very slick and create a slip/fall hazard. Keeping the premises free of leaf debris is important for these two specific reasons.

Late Fall is also a good time to check exterior lighting, especially with darkness arriving much earlier.  Property owners should inspect downspouts to determine runoff flow and avoid ice accumulation in public traffic areas.  You should also review snow removal and salting procedures in parking lots and on sidewalks.

Interior Maintenance

Attention to interior preventative maintenance is always important too.  Replacing furnace filters and checking batteries in smoke and CO detectors, exit signs, and emergency lighting are simple yet important procedures.  During inclement weather, consider placing moisture-absorbent mats in entrance areas.  Make sure the mats have beveled edges, lie flat on the floor and are made of backing that will not slide, otherwise the mat could become a tripping hazard itself.

Holiday Decorations

With the holidays come decorations.  It is important that decorations do not interfere with safety equipment in the building.  Decorations should never cover exit and emergency lighting, smoke detectors or sprinkler heads.  Christmas trees and holiday candles can become a major fire hazard. Never leave a lit candle unattended and be sure to turn off and unplug all Christmas lights before leaving work for the night.

Extra care should also be employed with the use of extension cords. Cords should always be in good working order and not overloaded.  The use of extension cords in public traffic areas can create trip hazards and should always be avoided. Also be sure to unplug them when not in use because the cords can still draw power.  To reduce chances of overheating and fire, cords should never be bundled together or placed under rugs.  

By establishing and implementing these simple, low-cost preventative maintenance procedures, your business can potentially reduce its overall hazards and enjoy the fall, winter and holiday seasons! The most important way to protect your business though, is to have an open line of communication with your insurance agent at the Lake of the Ozarks.  Be sure to discuss all your risks to ensure you have the proper coverage for your business!

Delivering all of your Lake of the Ozarks Insurance needs - Insure the Lake!

Steve Naught, CIC

3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

T: 573-348-2794
F: 573-348-0191

Tuesday, November 25, 2014

Protect Your Condo at the Lake

Insure the Lake has you taken care of when it comes to condo insurance at the Lake of the Ozarks. The place you live is your greatest asset and we're here to help you protect it.   Every insurance policy is different and you should consult your Lake of the Ozarks insurance agent about your specific needs.  In the event of a loss, you'll want to know that you're covered.

Points for Condo Owners to Consider

Condo owners have several areas of concern to address. Even though the condominium association has a master policy, you may still be responsible for a certain portion of the building coverage.  For example, the condo by-laws may advise that you are responsible for everything “studs-in” inside your unit.  If this is the case, you will need to cover your portion of the building and improvements and betterments to your unit under your policy.

Many unit owners have a boat slip in the association’s community dock.  If there is a loss and your lift is damaged, coverage will likely need to come from your insurance policy and not the master policy. Some companies will include the hoist to your policy’s building limit while others may include this in your contents limit.  Verify you have the right amount of coverage in both of these areas with your agent.

Assessment coverage is another issue for condo owners to consider.  This will reimburse you for special assessments passed on to you from the association.  This coverage is only available when the cause of loss is covered under the association’s master policy.

While You're Away from Your Condo

While you are away on vacation or merely at work there are a few condo protection tips you should consider:
  • Turn down the ringer on your phone while you are out.
  • Turn off the water to prevent leaks. 
  • Unplug your television, toaster, lamps and any other small appliances to protect from power surges and to save power. 
  • Set automatic timers on lights for different times in different rooms.
  • Set a timer to a talk radio station so voices can be heard in the home.
  • Put a hold on your newspaper and mail when you go on vacation.
  • Alert friends and neighbors when you will be away.

The most important way to protect your condo is to have an open line of communication with your insurance agent at the Lake of the Ozarks.  The more they know about your specific situation, the better they will be able to assess your needs and make sure you have the best protection in the event of a loss. 

Delivering all of your Lake of the Ozarks Insurance needs - Insure the Lake!
We can help you with all of your Lake of the Ozarks insurance needs. You can have peace of mind.   Contact us for a FREE quote request.

Steve Naught, CIC

3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

T: 573-348-2794
F: 573-348-0191

Thursday, November 20, 2014

Health Insurance Enrollment FAQs

Understanding the Affordable Care Act 

Insure the Lake can help you with your Lake of the Ozarks health insurance needs.  Open enrollment for 2015 will be from November 15, 2014 to February 15, 2015.  For 2015, coverage can start as early as January 1, 2015.  Insurance in the Marketplace are offered by private companies and they all cover the same core set of benefits, known as essential health benefits.  No plan can turn you away or charge you more because you have an illness or medical condition, and plans can't charge women more than men.

Q: What does Marketplace health insurance cover? 

A: All private Lake of the Ozarks health insurance plans offered in the Marketplace offer the same set of essential health benefits.  These benefits include at least the following items and services:
  • Ambulatory patient services (outpatient care you get without being admitted to a hospital) 
  • Emergency services
  • Hospitalization
  • Maternity and newborn care (care before and after your baby is born) 
  • Mental health and substance use disorder services, including behavioral health treatment (this includes counseling and psychotherapy) 
  • Prescription drugs
  • Rehabilitative and habilitative services and devices (services and devices to help people with injuries, disabilities or chronic conditions gain or recover mental and physical skills)
  • Laboratory services
  • Preventative and wellness services and chronic disease management
  • Pediatric services

Q: Am I eligible for coverage in the Marketplace? 

A: Most people are eligible for health coverage through the Marketplace. To be eligible through the Marketplace, you: 
  • Must live in the United States
  • Must be a U.S. citizen or national (or be lawfully present) 
  • Can't be currently incarcerated

Q: What if I have a pre-existing health condition? 

A: Being sick doesn't keep you from getting coverage.  A Lake of the Ozarks insurance company can't turn you down or charge you more because of your condition.

Q: Will I qualify for lower costs on monthly premiums? 

A: When you get health insurance coverage in the Marketplace, you may be able to get a premium tax credit that lowers what you pay in monthly premiums. This will depend on your household size and income. When you fill out a Marketplace application, you’ll report your household size and income. If your income falls between the amounts shown below, you’ll qualify for a premium tax credit that you can apply directly to your monthly premiums. This means you’ll pay less money to your health insurance company each month.  Keep in mind that if you or your spouse have other coverage available, you may not be eligible for a subsidy.

If your income falls within the following ranges, you’ll generally qualify for a premium tax credit. The lower your income is within these ranges, the bigger your credit. (The amounts below are based on 2014 numbers and are likely to be slightly higher in 2015.)

  • $11,670 to $46,680 for individuals
  • $15,730 to $62,920 for a family of two 
  • $19,790 to $79,160 for a family of three
  • $23,850 to $95,400 for a family of four
  • $27,910 to $111,640 for a family of five
  • $31,970 to $127,880 for a family of six
  • $36,030 to $144,120 for a family of seven
  • $40,090 to $160,360 for a family of eight

Q: What is modified adjusted gross income? 

A: When you fill out the Marketplace application, a number called “modified adjusted gross income” (MAGI) will be used.  MAGI is generally your household’s adjusted gross income plus any tax-exempt Social Security (except for SSI, which is not counted), interest and foreign income you have. It’s used to determine your eligibility for lower costs on Marketplace coverage, and for Medicaid and CHIP.

Q: What if someone doesn't have health coverage? 

A: Beginning in 2014, if you don’t have health coverage, you may have to pay a fee. You may also have to pay for all of your health care. The fee is sometimes called the "penalty," "fine," "individual responsibility payment" or "individual mandate."

Q: How do I apply for health coverage? 

A: Use to apply for health coverage, compare plans and enroll online or over the phone.  You can also enroll directly through an insurance company by using an agent. If your income is too high to qualify for lower costs on coverage, you can buy health coverage outside the Marketplace, directly through an insurance company.

Delivering all of your Lake of the Ozarks Health Coverage needs - Insure the Lake!
We can help you with all of your Lake of the Ozarks insurance needs. You can have peace of mind.   Contact us for a FREE quote request.

Steve Naught, CIC

3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

T: 573-348-2794
F: 573-348-0191

Thursday, November 13, 2014

Make sure your Lake Home is protected!

Protect your Largest Tangible Asset

In many cases our homes are the largest asset we have. It is very important that we not only take care of that asset, but also protect ourselves if there were a loss.  Often a bank will require the home be covered for the cost to replace the structure; however there are many other issues that should be addressed to adequately cover your home in the event of a loss.  Every insurance policy has exclusions and endorsements that can alter coverage so it is best to talk to your Lake of the Ozarks Insurance Agent about your specific circumstance.

Homeowner Policy Coverage

Your typical Lake of the Ozarks homeowners policy covers five main areas; Dwelling, Personal Property, Other Structures, Loss of Use and Liability.

Dwelling coverage offers protection to the structure and fixtures as the result of damage due to a covered cause of loss such as fire or wind damage.  In covering the home correctly your agent will likely prepare a replacement cost estimator to make sure the structure is insured adequately.  You do not want to under insure or over insure your home and need to be aware that the replacement cost is not necessarily the same as the market value you paid for the home.  The insurance company will not insure the land the home sits on or the beautiful view that increased the purchase price.

Personal property covers the contents in your home such as furniture, clothing, wall hangings, televisions, or computers.  Most companies will include a certain percentage of the dwelling value for the contents limit.  It is a good idea to make sure the amount they automatically provide is enough to cover your needs.  You can use a home inventory checklist provided by your agent in order to get a good estimate of your personal property values.  Videotaping the inside of your house and its contents and keeping a copy of the tape and checklist at another location is also worthwhile.  These items will be very helpful in speeding up the claims process with the adjuster in the unfortunate event of a loss.

The other structures limit on the homeowners policy is also typically a percentage of the home value.  This includes coverage for detached structures such as outbuildings, detached garages, swimming pools and docks.  If this amount is inadequate and needs to be increased, your agent can endorse the extra coverage onto the policy for an additional charge.

Loss of Use coverage is available in the event you are forced from your residence due to a covered loss. This gives coverage for additional expenses you must take on above your normal expenses due to the loss and would include renting a place to stay.

Your homeowners policy should include coverage for Liability in the event you are brought into a lawsuit for damages you may cause to others.  This would include bodily injury or property damage to others and pay for litigation expenses and court decisions up to the limit on the policy.

Lake Home Topics

Often times the things that attract you to a home can add additional cost or make coverage more difficult to obtain.  There are several issues facing homeowners when they are purchasing insurance at the Lake of the Ozarks.

Most companies will insure your dock as part of your other structures limit.  The problem is that many of them will exclude coverage to a detached structure for collapse.  This is a major issue when we have a snowstorm that puts several inches of snow on your covered dock.  Some companies will include the collapse coverage automatically while others can add this by endorsement for an additional fee.  Don’t wait until you have a loss to find out if your dock is covered correctly; ask your Lake of the Ozarks insurance agent today.

There are other issues that concern dock owners. Wave action and wear and tear are not typically covered under your policy, so it is a good idea to take preventative measures in protecting and maintaining your dock.  Also, many docks have diving boards, slides and other amusement devices on them or nearby in the water.  Each company has a set of underwriting guidelines that these toys may or may not meet.  This does not necessarily mean that they will deny coverage in the event of a claim; however after a loss or upon inspection the company may recommend you remove the exposure, otherwise they may cancel the policy.

Delivering all of your Lake of the Ozarks Homeowner needs - Insure the Lake!
We can help you with all of your Lake of the Ozarks insurance needs. You can have peace of mind.   Contact us for a FREE quote request.

Steve Naught, CIC

3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

T: 573-348-2794
F: 573-348-0191

Thursday, November 6, 2014

Bailee Insurance explained!

What is Bailee Insurance?

If your business has temporary possession of someone's property, Bailee insurance covers liability for damage or destruction of that property while under your care or custody.  It this case, you are considered a "bailee" of that property.

When you have a client’s property in your possession for storage, repair or servicing, your exposure to the risk of damage is significant.  If something were to happen to your customers’ property, even if it is completely out of your control, you could be held responsible. Depending on the type of business and the techniques used to service or store property, the financial consequences of loss or damage to a customer’s property could be substantial.

You may have coverage for your business and the premises where you operate your business, but this only covers your assets and not temporary property in your possession.  It's important to have Bailee Insurance at the Lake of the Ozarks to cover the temporary property that you are in custody of or in care of!

Cleaners, repairers, warehouses, hospitality organizations and other businesses that work on or hold customers’ possessions need a Bailee Coverage Policy to protect themselves from this risk. Losses to customers’ property due to perils including fire, lightning, theft, burglary, robbery, windstorm, explosion, collision, floor, sprinkler leak, earthquake, strike, and damage or destruction in transportation can all be covered with Bailee Insurance.

Insure the Lake also offers Bailee insurance to cover other unexpected things that can go wrong. We offer several coverage options that can cover your business even if it's difficult to accurately estimate the value of the property you are caring for. This can include the following:

✔  Unlimited Bailee: By purchasing Unlimited Bailee Coverage, you will eliminate the need to accurately estimate the value of the property you would like to insure. Your risk of underestimating the value of property and paying the difference on a claim is minimal.

✔  Damage in Process: This option provides coverage for operator errors when repairing or servicing an item. An example - if you have a refrigerated warehouse, products could be stored at a temperature other than that requested causing the products to become contaminated.  In addition, goods could disappear, products could break and poor maintenance could cause damage.

✔  Mysterious Disappearance: This option provides coverage if a customer's property is misplaced
Keep in mind that Bailee insurance does not cover flood insurance. You should always carefully review your policy to ensure that you understand all exclusions. Give Insure the Lake a call and we will talk with you to determine if Bailee coverage is needed for your business, the level of insurance to make sure you are protected, and any other property or liability needs.

Delivering all of your Lake of the Ozarks Bailee Insurance needs - Insure the Lake!
We can help you with all of your Lake of the Ozarks insurance needs. You can have peace of mind.   Contact us for a FREE quote request.

Steve Naught, CIC

3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

T: 573-348-2794
F: 573-348-0191

Thursday, October 30, 2014

Save the Date for Winterfest 2015!

Who is ready to go to the Beach?

Save the date for Saturday, February 28th, 2015 for the 19th annual Winterfest celebration.  Insure the Lake and Steve Naught are members and supporters of this can't miss event of the year.  This years event will be at the Tan-Tar-A resort and it should be one of the BIG events of the winter.  Bring your swimsuit, towel, sun tan lotion and beach party attitude!  The beach will open at 5:30pm and you can join us for a "night in the sun" with incredible music, friends and fun!

Here are a few things that you can expect to enjoy when you attend.
  • Silent and Live Auction
  • Wine Pull
  • Photo Booth 
  • Professional Photography available
  • Buffet Style Dinner provided by Tan-Tar-A
  • Live Music
  • Dancing
  • Door Prizes
  • Other special events

How do I get tickets?

A quick and easy way to get your tickets is to give me a call at 573-348-2794!  Tickets are $60 per person and are also available via any Daybreak Rotary member.  You can also visit or call 573-348-2794 and someone will help you.

Who does the proceeds from this event help? 

Proceeds from this fund raising event helps nearly 40 LOCAL organizations and we give away ten's of thousands of dollars every year thanks to these type of events.

Insure the Lake thanks you in advance for your generous support of this event and we hope to see you on February 28th at Tan-Tar-A!

Rotary International is the world's first service club organization, with more than 1.2 million members in 33,000 clubs worldwide. Rotary club members are volunteers who work locally, regionally, and internationally to combat hunger, improve health and sanitation, provide education and job training, promote peace, and eradicate polio under the motto Service Above Self.

We proudly serve the Lake of the Ozarks Areas and surrounding communities with the caring and involved approach defined by Rotary International. We are comprised of business people and community leaders and we offer opportunities for hands on involvement in improving our community and the world.

Delivering all of your Lake of the Ozarks Insurance needs - Insure the Lake!
We can help you with all of your Lake of the Ozarks insurance needs. You can have peace of mind.   Contact us for a FREE quote request.

Steve Naught, CIC

3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

T: 573-348-2794
F: 573-348-0191

Wednesday, October 22, 2014

Protect your family - Update your Life Insurance Beneficiaries!

Life Insurance is a great way to ensure that your family will not endure financial hardship in the event of your death.  At Insure the Lake, we provide you all your options to allow you to make a good decision on how much coverage is needed to protect your family.  One of the important elements of any Life Insurance policy is identifying your beneficiaries.  Keeping this information updated is also important if you have recently gone through any life changes such as a divorce, new child, or change in your family situation. 

Types of Beneficiaries

Primary beneficiary – This will be the primary person who will receive the proceeds from your life insurance or financial accounts. You can name multiple primary beneficiaries, and they will then share the assets.

Contingent beneficiary – These people are the “backup,” or secondary, beneficiaries because they will only receive the proceeds of your accounts if the primary beneficiaries have died, cannot be located or refuse to accept.

It Matters!

Your will takes a back seat to these beneficiary designations in case of your death.  This includes:

  • Life Insurance
  • Retirement Savings
  • Financial accounts
  • Other assets
If you have not listed anyone as a beneficiary, your assets will follow a default order to determine who will receive it, such as your spouse, your children, your parents and then your siblings. Listing a beneficiary—and keeping it updated—will save time, effort and potential conflict after you’re gone.

Common Mistakes

Even after naming a beneficiary, you need to update the names whenever there’s a change in who receives your assets. A few common mistakes include not adding a spouse after marriage, not adding children as they are born, leaving an ex-spouse named after a divorce and leaving parents and siblings listed after you married and started your own family.

Update whenever you have a significant life change!

Whenever you experience a life change such as marriage, divorce, death of a spouse or child, birth of a child or grandchild or similar event that alters your family, you should review your beneficiary designations and make any necessary changes. You should also update your beneficiary listing when a beneficiary changes his or her name, such as an adult child getting married. If you’re not sure how to change your beneficiary, check with your human resources department, Lake of the Ozarks life insurance carrier or financial institution, and someone there should be able to guide you to the correct forms or process to change it.

Delivering all of your Lake of the Ozarks Life Insurance needs - Insure the Lake!

We can help you with all of your life insurance needs. You can have peace of mind.   Contact us for a FREE quote request.

Steve Naught, CIC

3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

T: 573-348-2794
F: 573-348-0191

Friday, October 17, 2014

You just had an auto accident - now what?

Sometimes life throws you a curve ball and you have an auto accident.  Insure the Lake knows that this can be a very stressful situation and we wanted to provide you some guidance in the event you find yourself in a non injury accident with another motorist.

Auto Accident Reporting Procedures

Do you know what to do in the event of an auto accident?  Typically, a Lake of the Ozarks auto insurance policy will request that you report all claims promptly and should notify your agent as soon as possible after an automobile accident.  At that time your agent will likely report your claim to the insurance company and an adjuster will be assigned to handle your claim. 

There are certain steps you should take prior to calling your agent in the event of an accident.  First, you should report the accident to the police so they can file a report and assist any injured parties.  Next, you should record information about the other people involved in the incident such as: Names, addresses, phone numbers, insurance carriers, vehicle type and license numbers.  You should take pictures of the accident if a camera is available.   

If your vehicle is not drivable have it towed to a garage, but do not authorize repairs until an adjuster gives approval.  After this is done, you should contact your Lake of the Ozarks insurance agent with the information you gathered.  You should not admit fault and it is best to avoid discussing the accident details with anyone other than the company, your agent or the authorities.

If you have employees driving for your business it is a good idea to go over what is expected of them in the event of an accident.  It may even be helpful to create an accident kit to keep in the glove box to assist in documenting an occurrence. The kit should include paper to obtain information, a pen, emergency contact numbers, an accident report form to go over the information needed and a disposable camera to document the damage.  You may also wish to provide a medical kit in case it is needed.

Your drivers represent your business and are the front line in gathering the facts about the accident that will help to represent you.  The more information gathered, the better your company will be able to defend you against possible lawsuits that may result from an incident.  Be sure to discuss the process with your insurance professional.  Proper planning is no accident.

Delivering all of your Lake of the Ozarks Auto Insurance needs - Insure the Lake!

We can help you with all of your auto insurance needs. You can have peace of mind.   Contact us for a FREE quote request.

Steve Naught, CIC

3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

T: 573-348-2794
F: 573-348-0191
Send Email

Wednesday, October 8, 2014

Navigating the Homeowner's Insurance landscape - What is the difference between Replacement Cost vs Market Value?

Do you know the difference between Replacement Cost and Market Value in your Lake of the Ozarks homeowners insurance policy?  It is interesting how often the topic arises when someone is purchasing a new property or refinancing an existing structure. 

Many people feel they are interchangeable, yet they can be very different amounts.  Replacement Cost is the price to replace property with comparable material and quality.  This is also known as replacing property with “like kind”.  Market Value is the accepted price between buyers and sellers based on supply and demand.


Sometimes the replacement cost and market value of a property are similar to each other, yet here at the Lake of the Ozarks there can be a drastic difference between the two valuations. For example, a home buyer wishes to purchase a 1,500 square foot home that is located on the waterfront at the point overlooking the main channel of the lake.  The purchase price of the home may exceed $500,000; however the insurable value may be closer to a replacement cost of $250,000. 

If the home were to burn to the ground the insurance company would pay to replace the structure, but they would not pay for the cost of the land or the value of the view of the lake.  This can create a dilemma for the lending institution that wishes to cover the interest of their loan which may be 2-3 times the replacement cost value of the home.  In converse there are instances where the replacement cost is much more than what the market values is due to economic circumstances.  This causes its own set of problems.

This topic becomes an even more interesting discussion when you throw into the mix multifamily living units such as condominium associations.  When purchasing a unit in a condo association you are buying much more than a section of a building. You are getting all of the amenities that come with community living.  The total cost to construct a 20 unit condo building may be 3 million dollars.  The market value or selling price of each unit is $250,000.  This does not necessarily make the market value of the building 5 million dollars and it is definitely no reflection of the replacement cost of the structure. 

The market value reflects the additional facilities and advantages associated with community living.  The perks that add to the market value but add nothing the replacement cost of the building may include: use of a swimming pool, parking lot or facility, common grounds, dock, well house, treatment plant, cost of land, the view etc… 

Most Lake of the Ozarks insurance agents have replacement cost guides that allow them to come close to the value of the building; however the best way to come up with the replacement cost of a structure is to discuss it with your local contractor.  Be sure to review your values and limits each year and discuss questions on the claims paying process with your agent.

Delivering all of your Lake of the Ozarks Homeowners Insurance needs - Insure the Lake!

We can help you with all of your homeowner insurance needs. You can have peace of mind.   Contact us for a FREE quote request.

Steve Naught, CIC

3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

T: 573-348-2794
F: 573-348-0191
Send Email

Thursday, October 2, 2014

We can insure your restaurant - Great Coverage and Competitive Prices!

Protect your Restaurant from the unexpected!

We know the restaurant insurance marketplace and work with multiple companies with appetites for restaurants to give you the most competitive coverage available. Just as each restaurant is different, every insurance company has their unique underwriting. Some have strict guidelines in order to maintain the best pricing while others are more open to alternative types of risks that some restaurants present. You can have the best of both worlds.

Much Can Go Wrong in your Restaurant Due to the Nature of the Business
Fire, Slip and Falls, Equipment Breakdown, Food Spoilage, Employee Theft
  • Claims cost you more than money. They cost time and grief. 
  • How long will it take to get back in business? 
  • Who pays your employees, the electric bill, phone water, sewer? 
  • Do you have coverage?
  • Are you covered correctly?
We Cater to ALL groups
Here is a partial list of groups that we can help:
  • Restaurants
  • Bars
  • Nightclubs
  • Private Clubs
  • Fine Dining
  • Fast Food
  • Delivery
  • Taverns
  • Convenience Stores
  • Package Liquor Stores
  • Banquet Facilities
  • Fraternal Organizations

Our "Menu" of services

Restaurant Insurance FAQs

We understand that each business has unique needs and flexibility with insurance is key!  Here is our menu of services we can offer you:


  • Flexible Underwriting
  • Safety Program
  • Flexible Billing Plans
  • Seasonal Coverage
  • Loss Control Services
  • Security Camera Credit
  • Dock Coverage including Snow Collapse


  • Business Income
  • Theft
  • Employee Dishonesty
  • Medical Payments Coverage
  • Money & Securities
  • Disparagement of Reputation
  • Hired and Non-Owned Auto
  • Ordinance & Law


  • Food Contamination
  • Equipment Breakdown
  • Spoilage
  • Employee Theft
  • Forgery or Alteration
  • Backup of Sewer
  • Valuable Papers & Records
  • Credit Card Forgery

Sweet Stuff

  • Coverage Review
  • Power Interruption
  • Key Employee Life Insurance
  • Delivery Coverage Catering
  • Free Building Valuation
  • Employee Benefits
  • EFT Available

From the Bar

  • Liquor Liability
  • Assault & Battery Coverage (Many policies exclude this)
  • Server Training
  • Happy Hour

We cover you 24/7, so when the unforeseen happens you have peace of mind!


Restaurant General Liability
Defends you from covered lawsuits such as
bodily injury and property injury you cause.
Physical damage coverage for your
buildings; tenants, improvements and
business personal property.
When employees have accidents such as slip
& falls, cuts, burns, and other injuries, workers
comp pays for medical bills and time off
while protecting you at the same time.
Not just for your Mai Tai. This covers you
when your underlying liability limits run out,
to further protect your restaurant business

Delivering all of your restaurant needs - Insure the Lake!

If set up properly by your agent, your insurance company helps with all of these. You don't have to close the doors for good. You can have peace of mind.   Contact us for a FREE quote request.

Steve Naught, CIC

3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

T: 573-348-2794
F: 573-348-0191
Send Email