things that need insurance? -car -home, condo, apartment -jewelry, cameras, collections ( coin,...
Post on 22-Dec-2015
216 views
TRANSCRIPT
Things that need insurance?-Car-Home, Condo, Apartment-Jewelry , Cameras, Collections ( coin , stamp)-Boats-Umbrella Liability-Life, Annuity-Medical and Disability-Dental, Vision
Do You Know Where to Buy Insurance?
Independent Agents – multiple companies
Direct Writers – Company Employees
Captive Agent – Represents one company
Direct Response – Phone or Mail
Internet – Company or Generic site
Bank – Check out your local bank
REQUIRED BY LAW:
BODILY INJURY - Injury to othersIn your carIn a car you hitA pedestrian
PROPERTY DAMAGE - to stuff of othersProperty of people in your carA car you hitA home, fence, tree or other property
Liability is a legal term that refers to the responsibility a person has for someone else’s loss or injury
Auto Liability
REQURIED BY FINANCE CO. NOT BY LAW
COMPREHENSIVE - Your CarDamage other than collision - Glass Breakage (windshield) - Falling object (tree) - Fire, Theft, Flood
COLLISION - Your Car, Your FaultHit another vehicle, object, or live animal. Excess if someone hits you
Auto Physical Damage
PERSONAL INJURY PROTECTIONMedical Expenses, Lost Income
UNINSURED / UNDERINSURED Your expenses if hit by an uninsured driver or someone with lower limits than you.
WHO IS COVERED?Named Insured & Resident RelativesOthers driving with permission
Auto Miscellaneous
LIABILITY (BI & PD)Pays from first dollarCT Min. $20,000/40,000 BI, $10,000 PDDouble to $100,000 for 30%. $500 = 50%
COMPREHENSIVESome have deductible, Opt. Glass @ $0
COLLISSIONDeductible coverage
How Much to Buy
Cost Factors
Drivers Experience Level - Age, Sex, Years Driving - Accidents , Violations
Vehicle - Performance Ratings - Price of Car, Cost of Repair
Use - Miles to work
Location - Where you store your garage - Where you live
Discounts
Drivers Ed
Good Student (B Average)
Multiple Vehicles
Auto and Homeowner Package
Insure on Parents Policy
Your house
Its contents @ 70% (including off premises)
In a locked car, at school, on vacation
Detached buildings (garage, shed) 10%
Extra Living Expense 20%
Liability (Bodily Injury & Property Dmge)
Homeowners
REPLACEMENT COSTInsure and be paid for the replacement value of your home.Partial Loss vs. Total Loss
ACTUAL CASH VALUE Depreciation
CONSTRUCTION COST, Not market value
HO Property Value
INCLUDESFire, LightningWindstorm, HailVehiclesVandalism, RiotSmoke, ExplosionTheftAircraft, Falling Obj.Weight of Ice & Snow
EXCLUDESFlood & EarthquakeVermin & InsectsWar, Nuclear ReactionWear & Tear
HO CoveragesBROAD PERILS (building)Covers anything not excludedCompany must prove damage from an excluded peril
SPECIFIED PERILS (contents)Covers only perils named in policyInsured has burden of proofLIABILITY (Injury to others/their property)Slip and FallHit someone with a baseball, golf ball, etc.Food poisoningBorrowed propertyEXCLUDES intentional acts (fighting)
WHOLE LIFECash Value (Borrow)Fixed Premium CostPays DividendsKEY OPTIONSDividends Offset Premium Guarantee Insurability
TERM (Indiv. / Group)Fixed PeriodNo Cash ValuePremium Increases with Age ORLevel Premium, Coverage Decreases
A contract between the policy holder and the insurer, where the insurer promises to pay a designated beneficiary a sum of money (the "benefits") upon the death of the insured person
Life Insurance
Career Opportunities
NurseLab Techs - Eng.AccountantActuaryProgrammer Tech SupportGraphic Artist
UnderwriterInvestment AnalystClaim AdjusterPremium AuditorSafety EngineerSales / MarketingLawyerCustomer Service Agent
Careers
CLAIM ADJUSTEREvaluate situation surrounding a claim.Covered by policy?Insured legally responsible?Cost to repair damage.Medical, lost time, pain & suffering UNDERWRITER
Reviews risk characteristics of prospects and current insured's Match to criteria for insurability Determine pricing
PREMIUM AUDITOROn the roadWorks with insured'sExposure to claims based on payroll or sales. WComp, ProdsDetermines payroll / sales exposure SAFETY
ENGINEERSurveys insured’s workplace Safe place to work?Driver trainingFleet maintenanceLifting
Careers
NURSESClaim Dept.Guide recovery Guide rehab
LAB TECHNICIANSForensics Claim SupportWorkplace Safety
SALES / MARKETINGAgent – outside sales Field RepHome Office
CUSTOMER SERVICE AGENT Agency – insideService, some sales
Careers
TECH SUPPORT Help DeskSpecialists
PROGRAMMERS Home OfficeAll Units Nights & Weekends
ACTUARIES
Set RatesClaim Reserves
ACCOUNTANTSCorporateBudgetInternal Auditor Premium Auditor
Careers
GRAPHIC ARTISTSCommunications Advertising
LAWYERSContractsClaim DefenseInsurance Policies
INVESTMENT ANALYSTS Home OfficePortfolio Manager Stocks Bonds Real Estate Currency
Careers