Thursday, October 27, 2016

Long-Term Care Planning Month

October is long-term care planning month. During this month, seniors and/or their family members are encouraged to develop a plan for covering the high costs of long-term care. The majority of the costs associated with long-term care are not covered by your standard health insurance plan or Medicare. By preparing now, you'll avoid placing a burden on your children and family to make those difficult choices when the time comes. Keep reading to learn more about long-term care planning from your Lake of the Ozarks insurance agent.

What is Long-Term Care?  


Long-term care refers to a range of services offering help with some of the most basic activities of life. This includes eating, bathing, dressing, using the toilet, getting in and out of bed, etc. The need for long-term care often stems from disability, chronic illness, cognitive impairment or the aging process. Not to be confused with disability or short-term care, long-term care is assistance that you might need for the rest of your life. It can be received in your own home, in a nursing home or another long-term care facility.

Who Needs Long-Term Care?


While it may seem obvious that the elderly have a plan for long-term care, anyone can need long-term care at anytime in their life. Automobile and sporting accidents, as well as disabling events and illnesses, such as as stroke or multiple sclerosis, can affect anyone at any age. Nearly 41% of long-term care is provided to people under the age of 65 who need help taking care of themselves.

Reasons to Plan Ahead 


Planning is essential for you to be able to get the care that you need. Long-term care is the leading cause of catastrophic out-of-pocket healthcare costs for the elderly and their adult children. By planning ahead, you have more time to save up a sufficient amount of money to cover the high costs associated with getting the help you need when you need it. By investing in long-term care insurance now, while you're younger and healthier, you greatly increase the changes for qualifying for enough coverage to cover most, if not all, non-medical long-term care costs.

Many insurance companies offers long-term care insurance, and Insure the Lake is here to help you choose the right plan for your needs. We have contracts with a variety of companies so we can shop around for the most comprehensive coverage at the best price! For more information about long-term care insurance for you or your loved ones, give our Lake of the Ozarks insurance company a call 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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Friday, October 21, 2016

Increasing Losses in the Auto Industry

Industry statistics show that insurance companies are paying out more in auto claims than they have in the past. Why? Are there more accidents happening? Are the costs of auto repairs and medical expenses increasing? In today's blog, your favorite insurance company at the Lake of the Ozarks discusses the increased losses that the auto industry is experiencing.

Auto Loss Statistics


The industry statistics gathered by Safeco below show that insurance carriers are paying out more in auto claims than they have in previous years. These high auto losses are occurring all across the industry.
  • The U.S. set a new car sales record of nearly 17.5 million vehicles in 2015. Newer cars have advanced technology and are more expensive to repair. 
  • 3.148 trillion miles were driven in 2015. That's a 3.5% increase over 2014 - the largest annual increase in 25 years. 
  • 2015 accident frequency increased: bodily injury liability increased 3%, property damage liability increased 0.9% and personal injury protection (PIP or no-fault claims) increased 6.6%. 
  • Traffic deaths decreased 22% from 2000 through 2014. Estimations for 2015 show a 7.7% increase over 2014.
  • From 2005 to 2013, the average cost per paid bodily injury liability claim increased 32.1%. 
  • Mirroring the industry, total loss auto claims for Safeco increased 12.7% between 2013 and 2015. 
  • Drivers are more distracted. In 2014, 3,179 people were killed and 431,000 were injured as a result of distracted drivers. 

Sources: "Strategy&," Price WaterHouse Coopers, 2016 Auto Industry Trends, U.S. Departments of Transportation's Federal Highway Administration, Insurance Services Office Fast Track Data, National Highway Traffic Safety Administration, Insurance Research Council, Safeco Research and Distraction.gov

Trust Your Local Independent Agent


When you choose to work with a local, independent insurance agent at the Lake of the Ozarks, you'll get personal service like no other. Whenever you have a question about your auto policy, you can call and talk to your agent. You don't get that when you purchase insurance online - you could get a different person every time you call. Auto insurance coverage is critical to have, and even more important is working with someone you can trust to call should you ever have an accident and need to make a claim.

Do you have the Lake of the Ozarks auto insurance coverage you need? At Insure the Lake, we'll do a free, no-obligation analysis of your current auto insurance coverage to determine what coverage you have, if it's adequate to cover your potential medical bills and protect your assets, and see if we can save you a little money compared to what you are currently paying. Give us a call at 573-348-2794 to discuss your insurance needs. Our goal is to work with you to find the most comprehensive insurance coverage for the best price.  

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, October 12, 2016

The Use of Personal Vehicles for Business

Did you know that there are over 240 million registered motor vehicles in the United States? Of those vehicles, approximately 25% are used for business purposes. As a business owner, its important for you to understand how the use of personal vehicles could affect your business. If you have employees that use their personal vehicles for business related activities, you could be exposing your business to a significant liability risk. In today's blog, our Lake of the Ozarks insurance agency discusses these risks and what you can do as a business owner to reduce your risk.

Personal Auto Policies 


Everyone is required to have auto insurance on the vehicles that they drive. However, personal policies have limitations when it comes to business use. In the event of a serious accident during business use, the business owner could be sued to collect additional damages not covered by the personal policy. Encourage your employees to talk to their Lake of the Ozarks insurance provider to be sure of their coverage, and also to let their agent know how the vehicle will be used for business. As the business owner, its important that you know the coverage your employees have on their vehicles. 

"Business Use" 


What exactly is the definition of business use? What does it mean? Activities that constitute are considered "business use" can include visiting customers, picking up supplies, attending conferences, and driving to and from work. For activities like this, a personal auto policy may provide the coverage needed. However, the exception is livery, or the carrying of goods or people for a fee. In this case, additional coverage may be needed. The best course of action is to talk to your insurance agent at the Lake of the Ozarks to make sure that you, as a business owner, understand your risk and are aware of any additional coverage needed.

Reduce Your Risk 


1. Use and Enforce a Company Policy. 

Every business needs to have a driving policy that is clearly communicated to every employee. While it may be common to have a policy against driving while under the influence or driving distracted, such as using a cellphone, reminding your employees of these policies is one of the best ways to mitigate risk. 

2. Review Employee Driving Records and Develop an Approved Driver List. 

Any employees driving for business related activities should be required to provide proof of a driver's license, a copy of their personal insurance coverage and proof that the insured has declared the vehicle for business use to the insurance agent. In addition, business owners should check the driving records of those employees that will be using their vehicles for business use. This process should be used to develop an approved driver list.

3. Establish Maintenance Standards for Vehicles. 

While its important that you have a safe driver behind the wheel during business activities, its also important to know the vehicles being operated for business use are also safe. As a business owner, you'll want to make sure any drivers have their vehicles inspected and maintained regularly. Consider regularly collecting maintenance reports from employees to gauge the reliability of their personal vehicles.

4.Review Your Commercial Auto Policy. 

It is also important to review your existing business auto policy and make sure you have adequate limits, as well as the correct coverage types.  Hired and Non-Owned Auto Coverages are a must for businesses with any potential employee or owner driving exposures. This gives coverage to the business for non-owned autos, such as employees running errands or hired vehicles that are not titled in the company name. This coverage does not protect the employee, as they need adequate coverage and limits on their personal auto policy; however, it does protect the business when they are brought into the liability suit when the employee was driving on the company's behalf.  If you don't have a commercial auto policy, these coverages can normally be added to a business owners policy or commercial liability policy as an endorsement, but the best place for this coverage is under the auto if available.  

If you have questions regarding the risks of your business, whether it be in relation to the use of personal vehicles for business or another issue, give Insure the Lake a call at 573-348-2794. Our independent insurance agents at the Lake of the Ozarks are here to help with all your business and personal insurance needs. Make sure you're covered by reviewing your policies 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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Monday, October 10, 2016

Understanding the Value of Life Insurance

Unlike home and auto insurance coverage, life insurance is something you aren't normally required to purchase and when something isn't mandatory, its often thought of as an unnecessary expense. When it comes to life insurance coverage though, you don't want to think that way. Most of us don't want to talk or hear about life insurance; however, it's important that everyone sees the value in this financial tool. In today's blog, your Lake of the Ozarks insurance agent addresses the value of life insurance for people of all ages.

Life Experiences 


While life insurance isn't something that we always want to think about, there are a few situations where the thought might cross your mind.
  • You just got married. - Before, you were only dependent on yourself. Now that you are married, you have someone else to think about. How would your spouse be affected if your income was no longer there?
  • You just had a baby. - A new addition to the family means added expenses and someone else depending on your income. How would your child be affected if one or both parents' income disappeared?
  • You just bought a house. - A mortgage payment can be one of the highest monthly bills a household incurs. Would your spouse or children be able to continue making payments if something happened to you and they no longer can depend on your income to cover it?
  • You just lost a loved one. - During the trying time of losing a loved one, you probably have a million things running through your mind. One of those thoughts might be how would others be affected financially if I weren't around anymore?
  • You just had a significant birthday. - The older you get, the more likely you are to experience health and medical issues. This could make you think about the future and how your family will be affected financially when you're no longer around. 
If you've recently gone through any of these situations, consider talking to an independent insurance agent at the Lake of the Ozarks about your life insurance options. 

Don't Think of It As "Life" Insurance 


While it may be called life insurance, you're not actually insuring your life. You're insuring what your loved ones depend on. Life insurance is for them, not you. Instead, think of the insurance as "income protection" or "family coverage." It's important to think about your families financial situations. How much money is needed for your family to get by? Without your income, is there enough money to cover the day-to-day expenses? If something happened to you and your family could no longer depend on your salary, could the bills be paid? Could your family continue living in the same house or driving the same car? It's important to put these numbers into perspective; then you'll truly be able to understand the value of life insurance.

For all your Lake of the Ozarks life insurance questions, contact Insure the Lake at 573-348-2794. Our goal is to meet with clients about their specific insurance needs, whether it be life insurance or another type of coverage, and how to best protect them. As an independent agency, we can shop around for the best coverage for your situation. Get your free quote 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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