Monday, March 23, 2015

Are You Prepared for an Equipment Breakdown?

Most people have heard of boiler and machinery insurance at the Lake of the Ozarks and feel that they have no exposure to this type of loss. Many would be incorrect in this assumption. The term boiler and machinery is gradually being replaced by the term equipment breakdown or mechanical breakdown. Equipment Breakdown fills gaps left by the commercial property policy and pays for financial loss when equipment breaks down suddenly and accidentally.

Equipment Breakdown Coverage


Commercial Property policies cover many perils such as fire, wind, and lightning; however, they are not designed to cover unique losses caused by equipment failure. Most property policies will exclude losses that are a result of mechanical breakdown, electrical arcing, centrifugal force or explosion of vessels under steam pressure. Not only would the property damage not be covered, but the resulting loss for the interruption of operations would also not be covered. Equipment breakdown coverage would pick up coverage for electrical equipment, air conditioning & refrigeration systems, mechanical equipment and pressure vessels.

Covered Situations


Here are a few examples that would likely be covered under breakdown and not under the stand alone property policy:
  1. An overload or power surge hits your phone system or switchboard causing damage to the system and downtime at your office.   
  2. A restaurant’s refrigeration unit is damaged when a bearing is thrown causing damage to the refrigerator and spoiling $5,000 worth in meat and fish.  (You would also need spoilage coverage to get the full benefit.)  
  3. Vibration causes moving parts in an air conditioning unit to seize, resulting in damage to the system.  
These are just a few common situations.

Policies are Different


Not all Boiler and Machinery/ Equipment Breakdown policies are the same.  Some have Basic coverage only for the Boiler and machinery and others have Broad or Comprehensive coverage picking up additional electrical exposures.  Also, some policies will exclude certain types of equipment such as medical devices or devices used in research.

Be sure to discuss your specific situation and operational exposures with your Lake of the Ozarks insurance agent.  Steven Naught is a Certified Insurance Counselor with the Naught-Naught Agency.  He can be reached at 573-348-2794.

Contact Insure the Lake today for all your Lake of the Ozarks business insurance needs! 



About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.





Steve Naught, CIC

NAUGHT-NAUGHT AGENCY
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

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


stnaught@naught-naught.com

Tuesday, March 17, 2015

15+ Tips for Preventing Burglary

A home burglary occurs approximately every 15 seconds in the United States. On average, a home burglary results in a loss of about $1,600. In addition to having Lake of the Ozarks homeowners insurance, there are some things you can do to reduce your risk of burglary. Check out these burglary prevention tips below!

Burglary Prevention Tips


  1. Lock all exterior doors and windows (including pet doors) before you leave the house or go to bed, even if its for a short time. 
  2. Leave lights on when you go out. If you're going to be away for a length of time, connect lamps to automatic timers to turn on in the evenings and off during the day. 
  3. Keep your garage door closed and locked. 
  4. Don't allow daily deliveries of mail, newspapers or flyers build up while you are away. You can either arrange with the post office to hold your mail or ask a friend or neighbor to collect it for you. 
  5. Arrange for your lawn to be mowed if you are going away for an extended period of time. 
  6. Install deadbolt locks on all exterior doors, as pushbutton locks are easy for burglars to open. 
  7. Sliding glass doors are vulnerable, so consider getting special locks for better security. 
  8. If your keys are lost or stolen, change your locks immediately. 
  9. When moving into a new home, have all the locks changed. 
  10. Make sure you have adequate exterior lighting. Consider getting a motion-sensitive light for the backyard. 
  11. Trim trees and bushes so that they cannot be used as hiding places for burglars. 
  12. Make sure your door hinges are on the interior of your home. 
  13. Keep all personal information, such as passports, financial documents, etc. in a locked, fire proof safe or a safety deposit box. 
  14. Store lock boxes or safes in a hidden area of the house. 
  15. Consider getting an alarm system. 

Don't Tempt a Burglar 


  1. Store your lawn mowers, BBQ grills and bicycles out of sight. 
  2. Always lock your garden sheds and garages. 
  3. Store ladders, tools and any other outside objects that could help a burglar gain entry in a locked shed or garage. 
  4. Use curtains on garage and basement windows. 
  5. Never leave notes on your door such as "Gone Shopping."
  6. Never leave keys under doormats, flowerpots, mailboxes or other "secret" higing places. 
  7. Don't talk about vacation plans in public areas, such as the hair salon, restaurants or shopping malls. 
  8. Before taking out the garbage, shred all papers and breakdown boxes of high value equipment. Brand names on boxes alert burglars of items inside your home. 

Car Burglaries 


Your home is not the only target for burglars. Consider these tips for avoiding car break-ins: 
  1. Do not leave valuables in plain view, such as GPS devices, laptops, cell phones, wallets, etc. 
  2. Do not leave windows or the sunroof open. 
  3. Do not leave the doors unlocked, even if for a short period of time. 
  4. Do not leave keys in the vehicle. 
  5. Do not leave out items with personal information. 
  6. Do not move valuable items to the trunk while in public view.

What To Do If Your Home or Car is Broken Into


If you come home to find an unexplained open/broken window or door, do not enter. The burglar may still be inside. Use a cell phone or your neighbor's phone to call the police. Do not touch anything or clean up until the police have inspected for evidence. Note any suspicious vehicles or persons.

Once the police have been contacted, be sure to contact your insurance agent at the Lake of the Ozarks. Having a home inventory will help you to record everything that is missing and help you through the claim process. Now is the time to check your policy, before a burglary occurs. Make sure that all your valuables are insured. Some items such as jewelry and art are not covered under a standard homeowners policy. Contact Insure the Lake at 573-348-2794 for all your insurance needs!

Contact Insure the Lake today for all your Lake of the Ozarks home insurance needs! 



About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.





Steve Naught, CIC

NAUGHT-NAUGHT AGENCY
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

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


stnaught@naught-naught.com

Thursday, March 12, 2015

What is Auto Replacement Cost Coverage?

Do you have an auto loan on a newer car or truck? If you were involved in an at-fault accident which totaled that vehicle, would the balance on your loan exceed the current actual cash value of it? Insure the Lake has seen this happen all too many times, which is why we're here to explain to you about auto replacement cost insurance coverage at the Lake of the Ozarks!

Standard Auto Insurance


Under standard policy conditions, a totaled car is insured for actual cash value (ACV) or current market value. Your claim settlement may not be enough to replace your vehicle or even enough to pay off the value of your loan, leaving you with no transportation and a debt to the bank. With newer cars depreciating rather rapidly, you may want to consider adding auto replacement cost coverage to your current auto policy.

Auto Replacement Cost Coverage


This type of coverage will pay for the replacement of that vehicle with a new one, which should be ample to satisfy your loan balance. Be aware that Lake of the Ozarks insurance carriers place certain requirements on this coverage, such as the current model year vehicles only or coverage purchased within 6 months of the purchase of the vehicle.


A few minutes of your time to learn more about this coverage can certainly help ensure your peace of mind and financial security. For any questions about Lake of the Ozarks auto insurance, contact us at 573-348-2794. We work with our companies to find the most comprehensive insurance coverage for the best price. Choose Insure the Lake for all your auto insurance needs!

Contact Insure the Lake today for all your Lake of the Ozarks car insurance needs! 



About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.





Steve Naught, CIC

NAUGHT-NAUGHT AGENCY
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

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


stnaught@naught-naught.com

Friday, March 6, 2015

Be Prepared for Hailstorm Season!

Hail season is quickly approaching and Insure the Lake is here to make sure you're prepared! Many of Missouri's most dangerous hailstorms have occurred in April. While hailstorms don't last long, they do pack a real punch. Hail causes nearly $1 billion in damages, mostly to roofs and cars, each year! Make sure you understand your Lake of the Ozarks insurance coverage and take the time to check your roof before hail season.

Before a Hailstorm


Make sure you know how much your insurance covers, as well as how much you need.
  • Check your policy to see what's covered and also what your deductable is. 
  • Your insurance policy will typically cover the cost to repair roofs, cars with comprehensive coverage and other common hail damage. 
  • You might have a higher deductible for wind and hail damage than you do for other types of claims. 
  • Talk to your Lake of the Ozarks insurance agent to find out more! 

Ways to Reduce Hail Damage 

If you haven't taken a look at your roof in awhile, now is the time to do it! Many roofing companies will come out an inspect it for you for free. Roof repairs today can help you avoid extensive, time-consuming cleanup later! 
  • Repair or replace worn, curled or missing shingles. 
  • If your roof is aging, consider replacing it before hail season begins. 

During a Hailstorm


Protect Yourself and Your Car
In severe storms, a hail stone can be as large as a softball and fall at 50-100 miles per hour!
  • Stay indoors. 
  • Stay away from skylights and glass doors to avoid broken glass. 
  • If it is safe, close drapes, blinds or shades to prevent debris from blowing inside. 
  • If you can, park your car in the garage or other covered area. 

After a Hailstorm


Put safety first when assessing the damage. Rememeber that there may be broken glass, sharp objects or live wires. Wear proper shoes and gloves, and never use rain-soaked electrical equipment. If you have experienced damage from a hailstorm, report it to your insurance agent at the Lake of the Ozarks as soon as possible. During the initial call, you should be prepared to provide a general description of the damage. Document any items that were damaged; a good, thorough list will help the claim prozess along. Make temporary or necessary repairs. Make sure you save your reciepts from any temporary fixes as part of documenting your damage.

Keep in mind that most companies will pay your home claim based on Actual Cash Value that includes depreciation. Once the repairs are completed, the company should pay the additional replacement cost amount. They don't pay to replace unless you do replace the roof or make the necessary repairs.

By taking the time to prepare for a hailstorm before it occurs, you may be able to avoid costly damage to your home or vehicle. For all of your auto and homeowners insurance needs, contact Insure the Lake! Life Happens...Live Protected!

Contact Insure the Lake today for all your Lake of the Ozarks car insurance needs! 



About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.





Steve Naught, CIC

NAUGHT-NAUGHT AGENCY
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

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


stnaught@naught-naught.com

Wednesday, March 4, 2015

5 Insurance Tips for Newlyweds

With everything that goes into a marriage, from the wedding planning to moving in together, sometimes insurance coverage can slip through the cracks. It's easy to get wrapped up in the excitement, failing to fully think through all the financial implications of joining lives. Newlyweds have a lot to consider when it comes to updating their insurance and making sure everything is covered. Your Lake of the Ozarks insurance agent brings you these 5 insurance tips for newlyweds:

1. Review Health Insurance Options


While you may think you don't need health insurance or can't afford it, the truth is no one can afford to go without it. When illnesses develop or emergencies pop up, the medical costs can quickly add up. You don't want to have to worry about money when you are dealing with serious issues. Marriage is a qualifying event for bringing someone (and their dependents) onto your group health insurance plan. However, typically you must make this change within the first 30 days of the qualifying event or else wait until the next open enrollment period. Be sure to review all of your options as each situation is unique.

2. Purchase or Update Life Insurance


Typically it takes a big life event, like a marriage, to really think about life insurance. If you don't already have a policy for yourself, now is the time to get one. Now that you are married, you have a financial obligation to your spouse and any children you have. To determine the amount of life insurance at the Lake of the Ozarks that you will need, consider future income potential, the cost of raising kids and any outstanding mortgage. Remember that even if income is not a concern, having life insurance will help pay for the expenses in the event of a death. If you already have a life insurance policy, now is the time to update beneficiary information and consider adding additional coverage to increase the death benefit amount.

3. Combine Auto Insurance


When it comes to combining your car insurance, there are several factors that go into determining the premium. Finding out after you're married, that your new spouse has a problem with speeding can come as a shock to not only you, but also your Lake of the Ozarks auto insurance premiums. If both of your driving records are clean, combining your car insurance policies could be a great way to save some money for bundled policies and also to ensure all drivers are covered on all vehicles. Combining home and life insurance policies, along with car insurance can add even more of discount.

4. Evaluate Homeowners Insurance


When purchasing a home together, one thing to consider is the insurance costs. Homes that are less than 10 years old or have been completely renovated within the last 10 years cost less to insure. If your home is made of fire-resistant materials, like brick and masonry, you could save even more money. If you're thinking about purchasing a fixer-upper, be sure to consider the home's replacement value. As you research coverage, think about what the structure offers today and what it will offer tomorrow. In addition to location, construction type and square footage will likely impact the premiums of your homeowners insurance at the Lake of the Ozarks.

5. Take Inventory of Personal Property 


Once you move in together, you'll generally want to take out a joint policy that covers not only your residence, but also all of your belongings. Much of your possessions can be covered automatically under your homeowners policy; however, it is important to take inventory of your items to help you decide on how much insurance to purchase. Be sure to consider items that may not be covered under a basic policy, such as your engagement ring or any expensive wedding gifts you may have received. You may need to add supplemental coverage to make sure everything is fully insured.

It is important for newlyweds to take the time to organize their Lake of the Ozarks insurance needs as a single unit. Doing this will ensure you're protected and that you're getting the best value for your needs. Starting a new life together will be an exciting adventure, but be sure to take care of all the details involved in becoming a married couple. Insure the Lake is here to help with all of your insurance needs. Contact us today at 573-348-2794.

Contact Insure the Lake today for all your Lake of the Ozarks life insurance needs! 



About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.





Steve Naught, CIC

NAUGHT-NAUGHT AGENCY
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral

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


stnaught@naught-naught.com