Elwood-Jordans Agency, Inc.

Overall cost of last week’s 9.0 magnitude quake and resulting tsunami will be astronomical.

Brooks — Thu, 17 Mar 2011 18:49:49 +0000

Private bank estimates put total losses at $180 billion! It will be interesting how claims will play out. See Link below for more details:

http://www.msnbc.msn.com/id/42095196/ns/business-world_business/

DOG BITE CLAIM COSTS ARE UP!

Brooks — Mon, 23 Aug 2010 14:42:53 +0000

In an article written by Liz Pulliam Weston she noted the following:

Consider:

Dog bites make up one-third of all homeowner insurance liability claims, according to the Insurance Information Institute, and cost insurers $356 million in 2007.

The average cost of a dog-bite claim was $24,511 in 2007, the institute found. That’s 11.5% more than the year before and 28% more than in 2003.

More than 4.7 million people are bitten by dogs annually, according to the national Centers for Disease Control and Prevention. Nearly a million of them need medical attention. Some die. In 2007, 32 people in the U.S. were killed by dogs, according to Los Angeles attorney Kenneth Phillips, who specializes in dog-bite cases.

http://articles.moneycentral.msn.com/Insurance/InsureYourHome/your-dogs-bite-could-bankrupt-you.aspx?page=1

This article should raise the following questions:

1. Do I have enough insurance to protect my assets and future earnings if my dog bites someone.

2. Is my dog on my insurance company’s “dangerous dog list”

Schedule your “Jewelry”!

Brooks — Thu, 12 Aug 2010 13:25:17 +0000

Very few people schedule their wife’s rings but the link below shows that anything can happen! Insurance is relatively cheap and if scheduled most companies include Mysterious Disappearance and Acts of Ignorance coverage.

http://wbztv.com/local/engagement.ring.lost.2.1853775.html

“Apples to Rotten Apples”

Brooks — Fri, 12 Feb 2010 20:56:53 +0000

Most agents and customers use the phrase apples to apples quote when shopping their insurance. Is this really what consumers want?

Over half of the insurance policies I review are lacking critical coverage’s or have needless deductibles that most people don’t know are available. Many times we’re talking about $10 to $30 more per year for very essential coverage’s or limits. Recent television commercials by a leading insurance company advertise “Choose your Own” price options. Is this a good idea?

Am I saying that consumers don’t understand insurance coverage’s or are not able to educate themselves properly? Not at all! I just think many people won’t take the time or won’t have the resources to find out what each coverage means, and what the legal implications are if they are in an accident without a key coverage. If they are focused on getting the “Cheapest”, price then they certainly are not going to choose a coverage that they don’t understand or that isn’t mandatory in their specific state. This is why insurance agents get commission and why it’s important to have someone review and explain your coverage’s. Are their agents who cut out less known coverage’s or add deductibles to gain your business?

Certainly! That’s why it’s important to find a local agent who has a good reputation and won’t compromise your insurance protection for $50 of commission!