Friday, January 29, 2016

The Importance of a Home Inventory

Insurance is a way to protect yourself, your family and what you have. Your homeowners insurance policy specifically, gives you financial protection in the unfortunate event your home or contents are damaged in a loss. It's important that you know the value of everything you own so that you can make sure you have an adequate amount of Lake of the Ozarks homeowners insurance. This is where a home inventory comes in handy!

The Importance of a Home Inventory


You never know when an emergency situation or catastrophe is going to occur, or how much damage it's going to cause. As defined by the insurance industry, a catastrophe is a natural disaster that causes a certain dollar amount, currently $25 million in insured damage. A typical homeowners insurance policy covers damage from fire, windstorms, hail, riots and explosions, as well as other types of loss such as theft and the cost of living elsewhere while the structure is being repaired or rebuilt. However, flood and earthquake damage are excluded under basic homeowners policies. In any case, with all the emotions flowing after a loss occurs, it can be easy for people to forget exactly everything that they own. The last thing you want to do at this time is sit down and make a list of everything you lost - you'll have plenty of other things to worry about.


Download Your FREE Home Inventory Checklist


The best way to make sure you have properly documented your personal property is to use a home inventory checklist. In the event of a catastrophic loss, this home inventory will help make sure your claim is properly paid. Having all the items in your home chronicled in advance of a loss is extremely helpful and works to your benefit. Insure the Lake has a free downloadable home inventory checklist that you can get by going to our website and filling out a short form: www.InsuretheLake.com. In addition to filling out the checklist, consider documenting your home's content with pictures and videos too. Once you complete the checklist, be sure to store your home inventory information in a safe location, such as a safety deposit box.

Insure the Lake is here to help with all of your Lake of the Ozarks insurance needs from homeowners and auto to business insurance. As your Lake of the Ozarks insurance agent, it's my job to make sure you understand your policy and that you have adequate coverage for your personal needs. Call 573-348-2794 today or request a free insurance quote online!

Request a Free Quote Online! Contact Insure the Lake today for all your Lake of the Ozarks 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
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral



stnaught@naught-naught.com


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Friday, January 22, 2016

What is Fiduciary Liability Insurance?

Various officers of a company, as well as other persons acting in some capacity relating to an employer's pension, savings, profit-sharing, employee benefit, and health and welfare plans can be held liable to the beneficiaries of these plans. If you oversee your company's employee benefits plans, your personal assets may be at stake without the protection of fiduciary liability insurance. Let's take a look at what fiduciary liability insurance is and why you would need it:

Who are Fiduciaries? 


A fiduciary is any individual who manages an employee benefit or pension plan.  Fiduciaries could be the plan’s trustees, investment committee members or the responsible parties who appoint those people. Even if you hire someone else to handle these plans for you, you, as the business owner, retain the ultimate responsibility for anything that may go wrong.

What is Fiduciary Liability Insurance? 


Fiduciary liability insurance protects the fiduciary against legal liability arising out of their role, including the cost of defending those claims that seek to establish such liability. If a claim is made against the policyholder of this fiduciary liability insurance, it covers the legal expenses of defending against the claim, as well as the financial losses the plan may have incurred due to errors, omissions or breach of fiduciary duty.

Why Do I Need Fiduciary Liability Insurance? 


Businesses that offer employee benefits packages that include retirement plans such as 401(k)s, Simple IRAs, 403(b)s or conventional pensions have specific fiduciary duties. A number of issues can arise when an employee feels as though fiduciary duty is breached. Fiduciaries could easily make an honest mistake in a change of forms, coverage explanations or the employee’s transfer in and out of a plan, leaving your company subject to lawsuits, fines and penalties. As the owner or decision maker, you could be named personally in a lawsuit. These claims may include allegations of improper advice or disclosure, breach of fiduciary duty, neglect in administrating a plan, lack of investment diversity or inappropriate selection of advisors or even service providers.

Talk to your Lake of the Ozarks insurance agent today to see if fiduciary liability coverage could help your company cover the expenses associated with these types of situations.While each fiduciary liability insurance policy is different, coverage is meant to fill in the gaps existing in traditional coverage offered by other policies. Insure the Lake is here to help with all your business insurance needs! Give us a call at 573-348-2794 to review your business coverage today.

Request a Free Quote Online! Contact Insure the Lake today for all your Lake of the Ozarks 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
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral



stnaught@naught-naught.com


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Wednesday, January 13, 2016

What Type of Life Insurance Coverage is Right for Me?

Life insurance isn't fun to think about and it may seem as though it's an unnecessary expense. However, if you have people that depend on you financially, you need life insurance protection. Life insurance isn't for you, it's from you - to protect your family in the event that something would happen to you. Life insurance can be confusing, which is why the best insurance company at the Lake of the Ozarks is here to help you understand it! 

4 Types of Life Insurance


1. Term - This is the simplest and generally cheapest form of life insurance. This is when you buy life insurance for a specific period of time. While it can generally be renewed, your premiums can increase based on age and health factors. For this type of policy, there is no cash value.

All other types of life insurance are permanent, but there are several different variations. In addition to the death benefit, they all offer a savings element that builds cash value. Once the balance accumulates, it is typically available to the policy holder subject to the terms of the policy. Here are the common types of permanent life insurance:

2. Whole - This policy covers your entire life, as long as you continue to pay the premiums. Your premiums will remain constant, and part of that premium is invested to become the cash value. While these policies are more expensive than term policies in the beginning, they even out because the premium does not increase.

3. Universal - While this policy is similar to a whole life insurance policy, it has the potential for higher earnings on the savings side. It is more flexible in terms of changing premiums and face value throughout the policy. There is typically a guaranteed return on the cash value. However, the disadvantage of this type of policy include: higher fees and the possibility of increasing premiums.

4. Variable - This policy usually has a fixed premium and you have control over the investment decisions for the cash value portion. This option is riskier as there is no guarantee for the cash value portion in the end.

What's Right for Me? 


Life insurance is important for anyone, at any age. How do you choose what type of policy to get though? Term life insurance may be a good choice for your temporary needs or if your funds are limited. Permanent life insurance on the other hand, may be a good option if you have long-term needs such as income for a spouse, an inheritance for your children or end of life expenses. Here are a few things to consider when choosing between term and permanent life insurance:
  • Initial Cost
  • Payment Flexibility 
  • Coverage Period 
  • Ability to Adjust Due to Economic or Personal Financial Changes
  • Desire to Accumulate Cash

Get Life Insurance Today! 


The easiest way to decide what type of life insurance is right for you is to talk to an insurance agent at the Lake of the Ozarks. An agent will be able to assess your unique situation and recommend the best policy options for your needs. Give Insure the Lake a call at 573-348-2794 to set an appointment to discuss Lake of the Ozarks life insurance. Life insurance policies increase in cost with age, so NOW is the best time to get a policy! 

Request a Free Quote Online! Contact Insure the Lake today for all your Lake of the Ozarks 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
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral



stnaught@naught-naught.com


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Wednesday, January 6, 2016

5 Reasons Why Using a Local Auto Insurance Agent is Important

You purchase auto insurance at the Lake of the Ozarks for a number of reasons, from liability protection to physical damage coverage of your own vehicle. When it comes to protecting your vehicle, your family and yourself, you want an insurance agent you can trust. Here are 5 reasons choosing a local, independent insurance agent at the Lake of the Ozarks is the way to go:

1. To Have Someone You Can Trust. 


How much would you trust someone you speak with over the phone about your insurance coverage? Chances are you're never going to get the same person going this route. How can you trust someone you've never even spoken to before? By choosing a local insurance agent, you will be able to meet with them face to face, have a conversation and get to know them as a person. You will be able to tell that they really care about your well-being and that you can trust them to help you when the need to file a claim arises.

2. To Get Better Customer Service.


Like we said in point #1, unless you have a local agent, you probably aren't going to speak to the same person twice about your insurance coverage. An independent insurance agent is going to be able to provide far superior customer service than anyone over the phone can. Skip the automated messages that more and more companies are switching to, and stick with a local, independent agent.

3. To Have Someone to Decipher the Insurance Jargon.


Let's face it, some of those insurance terms are hard for the average person to understand. It's important to have a local agent that you can turn to anytime you have some confusion about what your insurance policy says. In addition to having general insurance knowledge, a local insurance agent at the Lake of the Ozarks will have local knowledge. They will know how insurance claims work not only in the state of Missouri, but also on the local level. 

4. To Shop Around For the Best Rates.


Independent agents have the ability to shop around for the best rates for the coverage you need. In fact, the Naught-Naught Agency has direct contracts with over 50 different insurance companies and access to hundreds more through brokerage services. This allows us to find you the most comprehensive coverage at a competitive price! You could compare working with an independent agent as having a personal shopper, someone who sorts through options to find what best suits your needs.

5. To Have a One-Stop-Shop for ALL Insurance Needs.


While many of the large insurance companies focus on one particular type of insurance, local agencies tend to have the ability to take care of all your insurance needs. At Insure the Lake, we can take care of both your personal and business insurance coverage needs, from home/property and auto to health and life. This will limit the number of companies you have to deal with for insurance coverage and you may even be able to take advantage of bundling deals.

Auto Insurance at the Lake of the Ozarks


Do you have the Lake of the Ozarks auto insurance coverage you need to protect your family? Insure the Lake will do a free, no-obligation analysis of your current auto insurance coverage to determine what coverage you have, offer additional options to help protect your assets, and see if we can save you a little money compared to what you are currently paying. We provide automobile insurance to residents around the entire Lake of the Ozarks area, including Osage Beach, Camdenton, Eldon, Lake Ozarks, and surrounding areas. Give us a call today at 573-348-2794.

Request a Free Quote Online! Contact Insure the Lake today for all your Lake of the Ozarks 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
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral



stnaught@naught-naught.com


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