Vacant buildings are common products of a slow economy. Researchers said that recent statistics only show about a one percent decrease in vacant buildings in recent years. If buildings do not have any personal property or occupants in them, they are more likely to face several types of problems. Every year, there are over 30,000 fires in vacant buildings, and many of these result in severe injuries or deaths. They also cost well over $640 million in property damage. Most vacant buildings do not have good security or maintenance. This can lead to the following types of problems:

- Copper piping and other valuable fixtures inside the building may attract thieves.

- Buildings become vandalism targets when there is no security on the premises. These buildings often end up    with graffiti on their walls and broken windows.

- Many young people are attracted to vacant buildings to use as places for parties or drug use. They are also     common places for homeless people or drug dealers.

- Groundwater and soil may become contaminated by toxic substances leaking from a vacant building.

- Fires are common due to smoking trespassers, arsonists, decayed wiring and drug production. To complicate   the matter, the automatic sprinkler system may be turned off. This makes it easier for fires to spread. With a   lack of security, early detection is nearly impossible.

     No building owner wants to be fined for hazardous substances leaking or for a fire that could have been prevented. Building owners can take several steps to protect their vacant properties and make them less likely to be destroyed. The following are some useful tips:

- The exterior of the building should be cleared of cardboard, paper, brush and scrap wood.

- Stop by the property at least once each week. Another option for owners who live out of state is to hire a       property management company to care for the building.

- Keep parking areas and sidewalks in good condition, and they should be cleared of ice or snow during the       winter.

- If there are any toxic substances that may cause contamination and might harm people or emergency             responders, they should be removed.

- Put up obstacles to ensure pedestrians and vehicles stay out of the parking area.

- Pay security guards to monitor the building overnight, and keep exterior lights turned on during the night.

- Make sure the electricity for exit signs and emergency lighting is always on.

- To avoid bursting pipes, make sure the heat stays on or the plumbing system is drained. There should be a      minimum temperature set to keep automatic sprinkler systems safe.

- Turn off the utilities except when needed to power alarm systems and lighting.

- Fire detection devices should be linked to a central monitoring service and maintained well.

     If a building is almost 70 percent vacant for longer than 60 days, it may lose some vital insurance coverage. Standard commercial policies lower loss payments by 15 percent for the majority of losses. This does not include water damage, theft, vandalism or breaking glass. But, most commercial insurance policies completely suspend coverage for buildings vacant more than 60 days. If your commercial building is vacant for more than 60 days, a vacant building policy is recommended to protect your commercial property. For a review of your current commercial insurance program, give us a call at 214-275-8372

​     Self-storage units are growing in popularity according to a recent report from Bloomberg. New units and warehouses are being built every month to accommodate the growing demand for paid storage. From simple small garage-like units to large temperature-controlled luxury spaces, there are a wide variety of options. In 2015, about 10 percent of U.S. residents rented a storage unit. However, very few people think about what happens to their belongings if there is a burglary, fire, flood or other catastrophe.

     If a home insurance policy covers belongings that are stored away from the property, the coverage is limited to a specific dollar amount. Also, physical damages are covered but theft is not. This is important to know before filling a storage unit full of costly belongings, antiques or luxury items. 

     Homeowners who have valuable art, jewelry, firearms, furniture, rugs or other rare items should not store them outside of the home unless they are individually appraised and insured separately. In the event of major damages, the dollar limit for stored items would not cover the replacement cost for the majority of such valuables. To store these items away from home, discuss preferences and needs with an agent.

     Some storage companies offer insurance to customers. For those who already are covered with an individual home insurance policy, this coverage may be redundant. However, it may be a good option for those whose home insurance policies do not cover belongings stored away from the property or for those who do not have home insurance. 

     A renter's insurance policy may also cover some stored belongings. Always read the company's policy before buying it. What does it cover and exclude? Does the coverage come with a time limit? Is there a policy deductible? These are important things to know before making a decision. If storage businesses sell insurance, they must be licensed insurance producers. 

     If possible, talk to an agent before signing a contract to rent a storage unit and placing items in it. Be aware of how long any stored items are covered for and the maximum dollar amount for compensation. Also, be sure to understand what types of damages are covered and those that are not. For example, fire damage to a large rug may be covered but mold growth because of normal moisture in a humid climate may not be covered. Always keep an inventory of items in the storage unit, and take pictures of the stored belongings. There are even apps for such purposes. To learn more about these apps or the next steps to take, give us a call at 214-275-8372

​We hear the stories every day. People dying suddenly from heart attacks or freak car accidents. That makes us think, what if that happened to me? Consider these 10 reasons for owning life insurance:

1. Debts - What happens to your debts if you die right now? Existing bills, medical and     funeral costs. It's a debtor Mount Everest on which you strand your family without       life insurance. Who covers the expenses you have amassed already and those you       leave behind?
2. Your family may lose their home - Will they face foreclosure? Be forced to sell? They've just lost you now they may lose their home, too. Who will be there to pay the mortgage when you can't be?
3. Family lifestyle - Most couples in this day and age must both work to sustain their families. Think of the vacations and Christmas mornings your income provides.
4. Income for necessities - What about school for your children? Do you envision them going on to college? Who will pay when you're gone?
5. Your spouse's sleepless nights - They already have to deal with an empty bed. How many sleepless nights will there be for him/her? Life insurance assures peace of mind
6. The legalities - There may well be taxes and legal and probate costs to cover. Life insurance can leave tax-free money to your beneficiary to cover such expenses.
7. Quality care for your kids - What about the expenses that health insurance doesn't cover? Will they go to the better doctors? Does your son depend upon asthma medication? Does your daughter need braces? Will they one day? If so, who pays for that without you?
8. Your extended family - With uncertain times, with retirement benefits vanishing, who will care for your parents as they are too old to care for themselves? Will you be there for them as they were there for you?
9. The Unexpected - A young mother killed in a car crash. Six months later, her husband dies of a heart attack. They left five minor children. You may think "my spouse will take care of them" but what if he/she can't?
10. Pride - How do you want to be remembered? As someone who thought of his family enough to provide for them in your absence?

In closing, are you even eligible for life insurance? At rates you can afford? As we age, our health issues become paramount. Tomorrow you will be older than you are today. Tomorrow is promised to no one. The time to think of life insurance is today.

    One of the questions we get asked most often is why did my auto insurance rates go up, I'm a safe driver and I'm getting older. As people age, their driving habits change. Inconsistent schedules, retirement and new hobbies may affect where and how often they drive. Most older adults have spent many years behind the wheel and they try to drive cautiously as a result. When they are in accidents, they tend to sustain more serious injuries than younger drivers. Their hearing, vision and motor skills start to decline as the years pass, and some health conditions or prescription medications can affect their ability to stay alert while driving.     Since retired individuals have more leisure time, they often try new activities, take frequent vacations or spend more time with friends and family. It is important for retired adults to continue driving as much as possible to remain independent. The majority of Americans who are over the age of 70 have a driver's license. They do not drive as many total miles per year as most younger drivers. However, today's seniors are keeping their licenses longer than most seniors kept them in the past. As the population continues living longer, the number of senior drivers will keep climbing.

     As people age, their risk of being involved in fatal accidents increases. This is especially true for drivers who are over the age of 75. However, older drivers are less likely to be involved in certain types of accidents. For example, they are less likely to be the at-fault intoxicated party in a DUI crash. They are also less likely to be involved in night accidents and high-speed crashes. Common types of accidents for older drivers include merging too soon in front of another vehicle, turning too slowly at an intersection to avoid oncoming traffic and merging into a passing vehicle that is in a blind spot. Also, they are commonly involved in rear-end accidents. They are more likely to not yield the right of way and inadvertently depart a lane. Some seniors also cause accidents by driving too slowly on freeways.

     Although older drivers face a higher risk of being involved in an accident, the rate of crashes over the past several years for people who are 65 or older has decreased. This is due to safer roads, more safety features in vehicles, better health practices, stricter license renewal policies and several other factors. The majority of traffic deaths among elderly individuals occur on weekdays during daylight hours. If older adults are physically frail, they are more susceptible to death at the scene of the accident. However, they may also die from long-term complications of a non-fatal injury such as a broken hip. 

So yes, your auto insurance rates will go up as you age because of a number of factors. Make sure to shop around from time to time just to make sure you are getting the best price for your insurance dollars.

     Severe, tragic, auto accidents happen every day. An unfortunate fact is that someday, that accident could be your fault. And the financial consequences of being found liable in an accident can be devastating as these stories illustrate.
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     In 2013 a California driver ran a red light at 50 to 70 mph in a 25 mph zone. He collided with a taxicab carrying two passengers, got out of his car and fled. He was given a three-year prison sentence and $271,000 fine for fleeing the scene of an accident and awarded his victims more than $2.7 million in damages. While an appellate court returned the case to a trial court because of mistakes made in admitting evidence, the final judgment is likely to be more than $2 million. 

     The news was even worse for a Florida driver. After his car collided with a motorcycle, killing the bike's driver, a jury ordered him to pay the driver's estate $8 million. He had purchased only $100,000 of insurance.
In each of these cases, a personal umbrella policy would have helped the people being sued. A personal umbrella policy picks up where an auto or homeowners insurance policy leaves off to provide extra protection.
Every insurance policy states in its information pages the maximum amount that the insurance company will pay for a loss. These amounts are called "limits" of insurance; insurance buyers usually have several choices for limits, up to the most the company will offer. If the amount of the loss is greater than the amount of insurance, the policyholder is responsible for paying the rest. The driver whose car killed the motorcyclist owed $8 million, or $7.9 million more than he had in insurance.

     An umbrella policy takes over once the insurance in your auto policy is used up. Usually, the insurance company will require the auto policy (the "underlying" policy) to have limits at a certain level or higher. This reduces the likelihood that the umbrella will have to cover a claim. Once the underlying policy has paid out their full limits for a loss, the umbrella takes over, paying up to its own limit. The higher the umbrella limits, the more protection the policyholder has. The cost to increase the limits decreases the higher the limits are. For example, the cost of going from $1 million to $2 million is a fraction of the cost for $1 million; the cost of going from $1 million to $5 million may be about the same as for the first $1 million.

     Even large amounts of liability insurance are affordable and can save your family from financial ruin. Every family should consider buying as much liability insurance as it can afford. A personal umbrella policy can provide additional liability insurance in the unfortunate event of a serious auto accident that exceeds your auto insurance limits.

     Statistics have long shown that young drivers have car accidents at higher rates than the older ones. Lack of experience, overconfidence, underestimation of risk, social pressure and risky behaviors are generally seen as the primary explanations for these results. However, a recent study shows that distractions, especially cell phones, are playing an increasingly bigger role in accidents involving the youngest drivers.

     Researchers for the AAA Foundation for Traffic Safety examined accident data compiled over an eight-year period, from 2007 to 2015. The data came from drivers, aged 16 to 19, who participated in a program that captured video, audio and accelerometer data in 12-second chunks when it detected an accident or "high g-force event," such as hard braking. The files captured the eight seconds before the event and four seconds after. The database included 8,200 files, but the researchers excluded minor incidents such as curb strikes. That left more than 2,200 moderate-to-severe incidents to include in the study. The data revealed a significant increase in the rate of rear-end crashes. These accounted for just over 20 percent of crashes in 2007 but nearly 40 percent in 2015. A higher percentage of accidents involved teens not paying attention to what was in front of them. Almost 60 percent of crashes involved some type of potentially distracting behavior in the six seconds prior to impact. The rates did not vary greatly from one year to the next. The most common distractions were passengers, cell phone use, and other in-vehicle distractions. 

     The researchers found that the ways cell phone use distracted drivers changed over time. The proportion of crashes resulting from teens talking on or listening to a phone declined slightly each year. However, the rate of crashes following drivers operating or looking at their phones climbed four percent per year. One in five rear-end crashes during the eight years resulted from operating or looking at a phone. However, the percentage of such crashes rose from 15 percent in 2008 to 28 percent in 2014. As might be expected from these figures, drivers taking their eyes off the road was a significant factor. Where the data permitted this to be determined, average eyes-off-the-road time for rear-end crashes jumped from 2.0 seconds in 2008 to 3.1 in 2014. The duration of the longest glance rose from 1.5 to 2.1 seconds. Average reaction times also lengthened, from 2.0 seconds to 2.7 seconds.

     There was some good news. Rates of accidents involving driving off the road or loss of vehicle control were down. The authors speculated that this may be because teens are checking their phones at times they perceive to be safer, such as when they are stopped in traffic, and because more cars have automated safety systems. The data clearly shows that teens, who are seldom without their phones, are at risk behind the wheel with them.

​     Parents, educators, law enforcement and insurers must all emphasize to young drivers the dangers of cell phone use while driving. Distractions of all kinds are a threat, but cell phones stand out. Insurance rates for teens are directly related to risks, but more importantly, talk to your teens about the risks of texting and driving to prevent injuries or death of your loved ones.