Top 5 Craziest Insurance Policies Ever Drafted

by Administrator 21. January 2013 06:09

When most people talk of taking insurance policies, they mean insuring their auto-mobiles  liabilities, health, businesses, homes and other normal things. However, these are not the only policies that insurance companies can draft. Some people are known to seek out ridiculous insurance policies, and below are 5 of the craziest of these policies.

Immaculate Conception Insurance

Three Scottish sisters insured their virginity with British Insurance. The sisters believed that if there was ever going to be an immaculate conception, God would choose one of them to be the mother of the child. As a precaution against that risk, the sisters paid premiums of $150 per year to the insurance company, for a potential pay-off of $1.5 million. Unfortunately, there was a public outcry when people realized what was happening and the insurance firm had to cancel the policy. In fact, the company claimed that it had been donating the money to charity all that time.

Chest Hair Insurance

A celebrity was considered as a sex symbol for many years, so he took out an insurance policy from Lloyd's for his chest hair. He did this to protect his sexiness, which he believed stemmed mainly from the mane of hair on his chest. Although he had kept his chest hair for approximately half a century, he believed that something could go wrong any time with his prized possession (say a spontaneous combustion of his shirt) so he insured it.
Alien Insurance

This one was also offered by British Insurance. Their alien abduction insurance was mainly taken up by Californians, and the company managed to rake in nearly $3 million from this policy. The policy was meant for alien abduction victims who were afraid that the aliens would insert medical objects into their anal regions. Is it funny that the managing director of the insurance company deemed the venture a profitable joke?

Ghost Insurance

There are insurance policies against ghosts and other kinds of spirits. A pub owner in England took one of these policies that promise to pay £1,000,000 (approximately $1,300,000) if a customer or an employee is permanently disabled or injured by a ghost within the premises. The owner of the pub became interested in this policy after he allegedly saw ghost shooting glasses though his bar one night. The premiums are reportedly £500 (approximately $660) a year.

Taste Buds Insurance

A British food critic believes he has one of the most exciting jobs in the world, and many people would agree. In case his precious buds are damaged by extra spicy foods, his career would certainly end. Therefore, he is not leaving anything to chance. He has taken out a $400,000 insurance policy against his taste buds.

The insurance industry is surely strange, but it does not have to be so. If you want to know more about different types of useful Killeen Insurance, call a Shawn Camp Insurance agent today at  (800) 212-2641.

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Killeen Insurance For Seniors to Lower Their Auto Insurance Costs

by Administrator 13. December 2012 05:37

There are many ways for older drivers to save significant dollars on their auto insurance. But, if you buy your policy online or over the phone there is a good chance that you won’t be told about them. Buying insurance through an independent insurance agent is no more expensive than buying a policy online or over the phone, but an independent agent will take the time to talk with you and uncover the discounts you qualify for as well as the discounts you can easily obtain. The following are a few tips you should keep in mind when thinking of acquiring a new Killeen Insurance policy.

1. If you are 50 or older check with your agent to see if you qualify for a mature driver’s discount. Most insurance companies give them, but not all do so automatically. In addition, different carriers may have an age other than 50 when the discount kicks in. The average mature driver discount is 5 to 10 percent, so that can be quite helpful.

2. Defensive Driving Course: These courses are given in a classroom setting or online. They are usually eight hours long and successful completion can earn you a discount of up to 10 percent for as long as three years. The cost is generally $10 to $30.

3. Folks who have retired and no longer commute to and from work often are eligible for a discount due to decreased mileage driven. The fewer miles driven, the lower the risk of having to file an insurance claim. The amount of the discount is determined by your state so check with your agent if you have retired.

4.  Multi-policy discount: When you place your homeowners or renters insurance with the same company that provides your automobile insurance you will usually get a discount, known as a multiple policy discount, on both policies. The discounts vary by insurance carrier, but it is certainly worthwhile to discuss with your insurance agent.

5. Military discounts are frequently available to consumers who are on active duty, have retired from the armed forces or are a member of the National Guard or Reserves. If this applies to you, ask your agent if you are entitled to a discount on your automobile policy.

6. Safe drivers who are accident free for a set period of time may qualify for a safe driver discount. Make sure to ask your agent about this potential money-saving discount.

7. PIP Discount: Some insurance companies offer a discount on Personal Injury Protection (PIP) coverage if a specified amount of miles driven each year is completed by a driver over a certain age.

While you can expect to see your rates fall when you are in your fifties they will start to rise when you hit your sixties. Getting every discount you can as soon as you can will help keep your rates manageable. Contact an agent at Shawn Camp Insurance today for more information.

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Insuring Luxury Items and Collectibles

by Administrator 4. November 2012 12:42

There is no question that renter’s insurance is a smart investment for anyone who doesn’t own his own place, be it an apartment, townhouse, or single-family home. However, renter’s insurance is geared toward typical household contents, such as clothing, furniture, personal goods, and appliances.

Three categories of property may or may not be covered, depending on the policy: antiques, collectibles, and fine art. After a loss is not the time to find out the scope of your Texas Renters insurance.

Antiques and Vintage Furniture and Decor:

Typically, antiques are furniture or decorative objects over a century old. Vintage is more subjective, but typically includes items between 40 and 100 years old. If you have vintage or antique furniture in your rental, you should look into expanded coverage. Your agent will likely require photos and an appraisal. Again, after a fire or flood is not the time to find out the bedroom set you got from your grandmother’s garage was Depression-era Heywood-Wakefield and worth several thousand dollars.

Collectibles:

Collectibles can range from first-edition books and stamps, to comic books and plastic action figures. Before you talk to your insurance agent, take a thorough inventory, with photos, and have estimated replacement costs. Your vintage red-handled egg beater collection may be priceless to you, but you need to have an idea of fair market value.

Professional grade price guides are a good place to start. Otherwise, the 30-year-old $2.99 price sticker on the package may be the extent of your potential recovery. Depending on the size of the collection and the claimed value, a professional appraisal may be required to ensure full coverage.

Fine Art:

In general, fine art encompasses paintings, prints, sculpture, and other decorative objects that are either one-of-a-kind or produced in limited editions. A thorough inventory accompanied by good photographs is essential. Gallery receipts, appraisal letters, and comparable sales by professionals are some good ways to determine the replacement value of your fine art pieces.

Once you have determined the scope and replacement value of your luxury items, it is time to sit down with your insurance agent and decide what is the best coverage for you. Typically, there are two choices: specialized policies and riders to existing policies.

The Internet is rife with companies claiming they will insure your collection for low rates. Depending on what you collect, a separate specialty policy may be a good choice. However,  luxury items can usually be handled with specialized clauses called riders to regular renter’s policies.  A licensed insurance agent can help you make the best choice. Contact an agent at Shawn Camp Insurance Agency for more information about renter’s insurance and how to protect your antiques and collectibles. 

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How to Increase Your Vehicle’s Fuel Efficiency Without Breaking the Bank

by Administrator 9. October 2012 11:23

With fuel prices hovering around the $3.50 a gallon mark, getting an extra 3 miles per gallon can really add up. There are plenty of websites that exhibit the fuel-saving  actions of a type of driver called the “hyper-miler.” These drivers have perfected the practice of getting every last mile out of their gas tanks. Unfortunately, some of these practices put the driver, and their car, at much more risk than the reward is worth. While we applaud the hyper-milers for their dedication, we must remind them that they might end up paying the savings that they make at the pump might in their next deductible.

Not all hyper-miling techniques are bad. In fact, there are five of them that make absolute sense. Doing these five things will keep your car in top shape so it delivers peak performance every day and will make you a safer and more fuel efficient driver.

-      Inflate tires properly

-      Get routine maintenance

-      Remove excess weight

-      Anticipate red lights

-      Accelerate slowly and evenly

By having properly inflated tires, you reduce the amount of friction that is generated by the rubber against the asphalt. According to Fueleconomy.gov you can increase your mileage by up to 3.3% simply by inflating your tires to the recommended PSI.

Keeping your car in good shape is the next best  way to save on fuel consumption. If you have a bad oxygen sensor, it could be zapping as much as 40% of your fuel efficiency. Of course, this isn’t the case with most cars, but by doing frequent oil changes and having a yearly tune-up you can save about 4% of your fuel costs over the duration of a year.

Removing the excess weight from your vehicle is also a good way to get better gas mileage. It takes more effort for a car to pull more weight. Reducing your car’s weight by 100 lbs can give you about 2% more fuel economy.

When your car is idling, it is wasting gas. Eliminating idle time at red lights can significantly improve your gas mileage for a couple of reasons. First, by anticipating the changing of the light you can begin to slow down much further away and coast to the light. This will consume less gas. Second, if you time it right, you can avoid making a full stop and conserve the momentum of the car. Accelerating from a dead stop is far less efficient than from a slow roll. 

Lastly, accelerating at a slow and even pace and maintaining a lower average speed can increase fuel efficiency by up to 20%. This eliminates excess fuel from being pumped into the pistons and being wasted.

Using these techniques will make you a more conscious driver. When you are focused on driving more steadily you become more aware of your surroundings and are less apt to end up in an accident that could have been avoided. Safe drivers get the lowest auto insurance rates across the board. So, by becoming more aware of your surroundings and taking better care of your car, you’ll be able to save money, not only at the pump, but on your monthly insurance bills as well! For more information on your Texas Auto Insurance policy, give us a call at Shawn Camp Insurance Agency today.

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5 Ways to Make Insurance Shopping Easier

by Administrator 20. August 2012 11:32

While insurance is one of the most important protections you can provide your family with, it's not exactly fun to shop for. When shopping for cars, gadgets, clothes, shoes and other retail items, you cast a hopeful eye to the future and look forward to a time when you get to use the item that you're shopping for; but when shopping for insurance you must consider the worst possible events that could occur and purchase protection against the financial damages they will cause, all the while hoping that they never come to pass.

If you want to make the process of shopping for insurance a little easier and faster, here are a few tips:

  • Have all your information. Depending on the type of insurance policy you’re shopping for, you may need varying types of information. For example, when shopping for home insurance you'll need to know the value of your contents, the rebuilding costs for your home and what kind of anti-theft and disaster response systems you have in place. When shopping for health insurance, you'll need to know your medications weight height and so on. Call your agent and ask what specific information you should have ready when you met with her. 
  • Know what you want to protect. When you apply for insurance the goal is to create financial protection against certain types of losses. If you don't know, however, what you want to protect then it will be difficult to get the appropriate coverage.
  • Have a budget. When designing an insurance policy, not only must you consider all the property you want to protect and the events you want to protect the property from, but also what you can afford to pay for the insurance. These two pieces of information go hand in hand.
  • Have an agent. Not only is it potentially dangerous to shop for insurance without an agent helping you understand the various coverage options, limits, and exclusions involved but it's also inefficient. Agents can quickly compare costs for equivalent policies and can design insurance coverage with as few gaps as you can afford.

We’re here to help you get the policy design that you and your family need most. When you're ready to start shopping for Killeen home, auto, or business insurance or to conduct a review of your current policies, give us a call at Shawn Camp Insurance today.

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Insurance and the Power of Being Mindful

by Administrator 20. March 2012 11:56

In a 2009 article in Psychology Today, mindfulness was described as the practice of being in the present moment. This means that instead of being distracted, thinking about the future, dwelling on the past, or allowing lots of noise in your head over everything but “the now,” when you are mindful you are fully invested in the current moment and what's happening during that tiny piece of time.

Mindfulness and Insurance

When you buy insurance, it's important that you allow yourself to be quiet and mindful. It’s understandable to feel anxious when working on final expense and legacy planning, when thinking about all the perils facing your home and vehicle, when imagining your future potential disabilities and contemplating all the liabilities and other negative aspects of life that make insurance necessary, but if you want to be properly insured and prepared for the future, you must allow yourself to be fully invested in the process of insurance planning rather than distracted and intimidated by what-ifs.

Mindful Insurance Planning

Instead of being cowed by the unknown, when insurance planning you focus on the known: the risks that any individual in your situation may actually face and the value of the property you want to protect. It’s really as simple as that—and knowing this will allow you to create a much more secure financial future.

Being frightened of a potential future event that has not yet come to pass, or being overwhelmed by the amount of data you must consider as you buy insurance will not help you purchase and amounts you need to protect your family and it won’t make it any easier to select the types of policies that offer you the kind of protections you’re looking for. Instead, it makes you feel powerless during what should be a very empowering process.

When you give yourself the space and permission to be mindful, you allow yourself to approach the task of buying insurance as practically and unemotionally as possible. This makes it easier to be deliberate and reasonable as you assess the practical risks you face each day and assign a dollar value to them, and then make relevant adjustments as you consider your budget and potential premiums.

Your insurance agent can be a big help in keeping your emotions on track and your approach to insurance planning practical. If you are ready to start searching for insurance policies that will protect your family, give us a call at (254) 547-2381 for a Killeen insurance quote.

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How Important is a New Home Inspection?

by Administrator 29. February 2012 11:57

When shopping for a new home, it's easy to get drawn in by what you may consider the perfect house. Finding the perfect house, in your ideal price range, located in your dream neighborhood can cause you to overlook minor details and run forward to submit an offer and secure this perfect home. But after the shininess has worn off and it's time to get home insurance coverage, you may regret this impulsive decision.

Instead of giving in to the desire to own the home of your dreams, take the time to have a new home inspection completed. Even if your home is of completely new construction, a home inspection can save you time, money, headaches, and risk.

Types of Home Inspections


There are many different inspections that can be done on your new home. In order to get the most comprehensive inspection and the most thorough understanding of the condition of your home, a new home buyer should consider a general home inspection, a termite inspection, a radon test to check levels of this unscented, cancer-causing radioactive gas, a septic system inspection (when a septic system is present), and, when appropriate, an oil tank testing.

Each of these inspections will give you a difference assessments regarding the health of your hew home. You may think that it’s enough to simply get a general inspection, but each of the specialized inspections mentioned above allow for a deeper look at areas that can be the source of major potential problems.

The Cost of Home Inspections

Home inspections cost both time and money, and that can lead many to skip them, conduct their own, visual inspection and hope for the best. But when you consider the benefit of professional inspections and weigh them against the actual cost and time involved, you will see that the cost is far outweighed by the benefits.

Generally, you can expect to pay between $300 and $500 for an inspection. The Housing and Urban Development (HUD) website also states that that price can be variable depending on the size of your home and its age since older homes may need more thorough examinations. Each inspection will generally take two or more hours, again, depending on the size of the property.

But to help ensure the safety of your family and the security of your financial investment, the price and time commitments are more than worth it.

The Effect of an Inspection on Insurance

Your home inspection will illustrate deficiencies in your electrical system and plumbing. It may also indicate water damage that exists but isn't immediately visible. It may show signs of an insect or termite infestation, and could illustrate problems with your septic tank, water heater and other important appliances. Since some of these problems can create a high-risk situation for perils covered by your home insurance policy, a new home inspection could result in certain improvements being made before you buy the home that will prompt a lower insurance premium once you own it.

Because the age of your home is taken into consideration when you apply for home insurance policy, it can also be part of the reason for a declined application. By completing certain home improvements on the property based on the results of your home inspection, you might ensure that your home insurance policy is approved after all.

To get insurance quotes on your current home or on the home you are considering buying, give us a call at (254) 547-2381. We can help you discover what your potential home insurance rates might be and assist you in setting reasonable limits based on your risk and budget.

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Progressive Offers Quote and Buy Online

by Administrator 9. December 2011 11:30

We are excited to announce that with Progressive Insurance you can now quote and  purchase your policy online!  If you want an agent that is personally available to you 24 hours 7 days a week Shawn Camp Insurance is your agency.

Just fill in the form to the left and get started with your customized policy!

Can you only purchase rental car insurance from rental car companies?

by Administrator 4. October 2011 12:17

 

Occasionally you may feel as if your entire working life is defined by a single event each year—vacation. Taking a vacation is one way of reminding you of the reason for working so hard all year round, but you should plan in such a way that you get the most value for your money.

It’s simple to forget about rental car insurance when budgeting for your vacation. So if you don’t want to arrive home from your holiday with a car repair costs that competes with the cost of a holiday abroad, consider purchasing rental car insurance or at least finding out whether you already have adequate protection from other sources.

Will your current car policy cover it?

First things first, contact your insurance agent. They can tell you what coverages you have for rental cars on your current auto policy. You need to be sure to have something to protect yourself in the event of an accident, theft, and vandalism. This coverage should include protection for damage to the car, as well as also property damage and bodily injury.

Will your credit card cover it?

Secondly, check with your credit card company. Many credit cards offer special protections for their clients when they use the credit card to pay for their rental car fees, check if yours does. When you do, make sure to ask about any special restrictions in order to obtain the insurance coverage.

Will you be the only one driving?

Lastly, you need to make sure that the other drivers have the same coverages, because your personal insurance and credit card protection might not extend to other individuals who are not named on your credit card or auto insurance policy.

By managing the advantages offered by both your credit card and your auto insurance policy, you could avoid the expense of rental car insurance. But if there are any gaps in the coverages you get between the credit card and auto policy, make sure you try to fill it with the insurance offered by the rental car company. This way you can spend your vacation relaxing and enjoying yourself rather than fretting about possible damages and expenses.

Call us to talk about your car policy or get a free car insurance quote in Texas by calling (254) 547-2381.

 

 

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How can the Drive-Other-Car Endorsement help my small business?

by Administrator 4. September 2011 12:21

 

It can be challenging to deal with all of your different insurance policies and assets that you have between your business and personal life. From business insurance to home insurance, life insurance to auto insurance for your personal and business vehicles the perfect balance of personal and business coverage can be hard to manage. Although a lot of these complex insurance arrangements cannot be simplified, the one involving your business and personal car insurance can be.

When you buy a business auto policy to cover your company car you can choose the Drive-Other-Car endorsement to cover your driving activities with a personal vehicle rather than buying a separate policy for personal use. 

What is included in this endorsement?

The coverage provided under this endorsement is similar to that of conventional, personal auto insurance but only one bill payment is necessary—to your business auto policy. This makes paperwork easier for you and lessens the risk of one of your policies being interrupted due to nonpayment. The Drive-Other-Car endorsement can also be used to provide coverage to employees who are provided with a company car to take home.

The Drive-Other-Car endorsement can also provide bodily injury and property damage liability coverage as well as uninsured or underinsured motorist coverage. Whatever limits and deductibles you choose for the business auto insurance policy are extended to the endorsement.

Critical Factors to Consider

The Drive-Other-Car endorsement does not just cover you when you drive personal vehicles, it can also cover claims resulting from accidents that occur while you, or a covered employee, are driving a rental vehicle or a friend’s car. That helps to make this extremely flexible endorsement extremely comprehensive.

This endorsement can cover other drivers in the employee or business owner’s household too—but you must read your policy before you assume that this is the case. If your policy does cover household members then they will be protected whether driving a rental car, borrowed car or their own personal vehicle. However, this does not mean that they are covered under the business portion of your policy if they use your company vehicle.

In order to qualify for this endorsement, the business vehicle you use and insure must be owned by your business and not by you, a spouse or a member of your family. When looking for ways to buy insurance policies that protect you against financial risks and simplify your life, additional endorsements like the Drive-Other-Car endorsement are important and valuable tools to consider.

Contact us at (800) 212-2641 for a free company car insurance quote or visit our office.

 

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