​  What You Can Do to Help Reduce Increases in Your Insurance Premiums

• Treat your auto and home insurance like it is a "Major Medical" policy. Think about the potential claim amount before you submit it to your insurance company as they may use 'little' or 'insignificant' claims to increase your renewal rate even more or possibly cancel your policy altogether!
• Consider increasing your deductible on your home/renters/dwelling policy
• Consider increasing your Collision deductible on your auto policy. Pro Tip: Comprehensive (AKA Other Than Collision) is usually much less costly than Collision. You would not necessarily see any significant savings by increasing the Comprehensive deductible
• Speak with your licensed insurance agent to see if you qualify for additional discounts (i.e.; if you have AAA or other Roadside Assistance, you may not want to add towing coverage on your policy; many companies provide discounts for certain levels of education and occupations; for home, many carriers provide discounts for water/temp/theft devices, as well as new roofs)
• You can shop around for better rates. An independent insurance agent like Connecticut Insurance Exchange Ltd typically represents more than one company so they can compare rates for you, saving you time and money.
• CAUTION: If you do decide to move your homeowner's insurance policy to another company, you most certainly may be subject to another – and more scrutinizing -- home inspection as companies can use even the smallest excuse to not write or cancel due to the Hard Market climate.

 
Our best advice is to look at all your options and discuss it with your licensed insurance agent.

As we've seen over the past few years, weather can be unpredictable — and when storms hit, they can cause a great deal of damage and heartache for homeowners like you. Taking proactive steps to assess your property before storm season can make a big difference in keeping minor problems from becoming major ones.
 
To help you get going,  here are a few DIY ways you can avoid surprising and costly impacts to your home:

• Give your roof the once over. If you can get on the roof safely, check for leaks and loose shingles. While you’re there, clean roof vents and make a mental note of any further inspections or repairs. Don’t feel comfortable or afraid of heights? Reach out to a roofer you trust.
• Gird up your gutters for spring showers. Check gutters and downspouts to ensure they're draining correctly...away from the house. Consider if now is the time for gutter covers which will drastically reduce how often you need to clean them.
• Ready your deck. As you daydream of backyard barbecues, check decks, stair rails, steps, and other outdoor wood for rotted wood, nail pops, warping, or splintering. If it’s been a few years, consider giving your deck a weekend and a fresh coat of deck stain.
• Inspect hoses, pipes, and shut-off valves. Carefully turn on outside water valves and irrigation systems in the event they froze and/or burst over the winter. Fix leaks and replace gaskets that seem old and likely to crack soon.
• Give your AC some TLC. Remove debris from around the unit, replace filters, and clean ducts and vents. Consider a professional tune-up to address any issues before the summer heat arrives.
• Prep for some serious outdoor fun. Check your yard for fallen objects that could cause family members to trip. Go ahead get your mower in tip-top shape by testing lawn mower blades and sharpening or replacing as needed.
• Test and inspect safety items. Test fire extinguishers, smoke and CO2 alarms, and outdoor lighting. Review your family’s fire escape plan and remind everyone of your designating outdoor meeting place.

Hope this gives you a boost of inspiration to determine what your home needs in the coming weeks. Of course, if you have any questions, please don’t hesitate to give Connecticut Insurance Exchange a call at 860-666-5443. We're here to help!

Most homeowner claims in Connecticut are due to water damage... frozen pipes, broken pipes, and water back up from sewers and drains. You may be particularly susceptible if your home is on a hill, if you have a basement, or if you have an old sewer line, but anyone can be at risk.

Here's just one example:
The town's drainage system was overloaded after a week's worth of rain. Water backed up into the drains of Mary Clement's unfinished basement causing around $4,500 in damage. Even though Mary did not have a sump pump, if she had a Limited Water Back-Up and Sump Pump Discharge or Overflow endorsement added to her homeowner’s policy, the claim would be covered, up to the limits of the endorsement, less the deductible.

What, exactly, is water back up coverage?
Water back up and sump pump failure coverage is not covered under a homeowners’ (HO 03, HO 05) policy. Coverage is available as an endorsement called Limited Water Back-Up and Sump Pump Discharge or Overflow. This endorsement offers coverage to property for direct, physical loss by water that backs up into the home through pipes, drains, sewer, water-service, sump pump and any other type of fluid transfer system from the house, and is available with optional limits and deductibles.

This coverage excludes the cost of the sump pump itself (if there is one) and any loss related (but not limited) to flood, tidal water, or groundwater seepage. Ask your agent for a full list of details.

How much water back up coverage do you need?

• Is your basement finished or unfinished?
• Take an inventory of the items, flooring, furniture, etc. kept there. Even if unfinished, is your furnace, oil tank, or hot water tank located there?

An assessment like this can help you determine how much coverage would be adequate to replace your things if you have a covered loss.

Ask your licensed insurance agent for more information about Limited Water Back-Up and Sump Pump Discharge or Overflow and how much coverage is right for you.

In the aftermath of a major storm, many insureds will need to hire contractors. Sadly, scammers target families at their most vulnerable times — when work needs to be performed quickly.

Before you commit to any home repair, here are some steps to help determine if your contractor is legitimate.

• Check references
• Get quotes from more than one contractor
• See that they are adequately insured if a worker is injured on the job. If not, then you may be held liable. Ask for a current copy of the contractor's worker’s compensation and liability insurance policies and verify that they are active.
• See if the contractor has the proper credentials for the work they will perform, by visiting the Connecticut Department of Consumer Protection (DCP) at www.elicense.ct.gov
• If someone is performing tree trimming or related work, they must have an Arborist License through the Department of Energy and Environmental Protection (DEEP).

The State of Connecticut Insurance Department has put out a Fraud Alert Bulletin with the Following Suggestions

Avoid doing business with any person or entity that:

• Requires that you pay in cash, by wire transfer, or in any form of untraceable payment;
• Refuses to offer you a contract in writing (contracts are required by law in the State of Connecticut);
• Offers you an incredibly low cost for work that needs to be completed, under the condition that you commit immediately;
• Knocks on your door, or otherwise solicits business specifically from you (instead of you going to them);
• Doesn’t provide references; and
• Will not provide proof of their credentials.

 Excerpted from CT Department of Insurance Consumer Alert
Click here to read the full bulletin.

Consumers have lots of choices when it comes to looking for insurance:

• Online do-it-yourself (no agent);
  
• Direct company agents (represent only one company); and
  
• Independent Agents (represent multiple insurance companies).
  

So, what are the benefits of working with an Independent Agent? Studies show buyers appreciate how Independent Agents…

• Respond quickly when you have a question or need
• Ensure the most comprehensive coverage for a good price
• Share knowledge and expertise
• Identify and offer important policy options buyers may not be aware of
• Save buyers time from having to research and compare options
• Assist with processing a claim, if there is one

The biggest advantage to using an independent agent is they get to know you and your needs. As you grow your family, make life or professional changes, or have questions, your independent agent is there to help you.

Contact Connecticut Insurance Exchange today to put the value of an Independent Agent to work for you!.

Did you know, not all water damage losses are covered by the homeowners policy? These losses can be very expensive. But, there are ways you can safeguard your home from water damage losses. Here are a few areas of your home to consider:

• Check your home’s drainage system to see if proper water drainage occurs. EXAMPLE: gutter downspouts should extend the proper distance from the foundation. Keep gutters clear of debris so water can drain properly.
• Is your yard properly graded to slope away from the home to allow surface water to adequately drain?
• If your basement is vulnerable to water collection, consider installing a sump pump system to keep unwanted water out of this part of your home.
• Washing machine hose failures cause millions of dollars of water losses each year. Check hoses periodically and replace at the first sign of wear. When replacing, many insurance adjusters recommend upgrading to the heavy-duty wire mesh or stainless steel hoses.
  

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Based on a study by the National Center for Injury Prevention and Control, dog bites cause over 800,000 injuries requiring immediate medical attention each year in the U.S. If your dog bites someone, you can be held legally liable. Fortunately, this loss is normally covered under your homeowner's policy. But, what if you can take steps to HELP PREVENT or reduce the chances of dog bites?

Ponder these suggestions:

• Carefully consider the breed when choosing a dog since some breeds can be more aggressive than others. A veterinarian can help you decide which breeds best suit your lifestyle. Also note: some insurers may not insure all breeds, so check your insurance policy for limitations.
  
• You may want to spay or neuter you dog since this often decreases aggressive tendencies.
• Socialize your dog from an early age to encourage and foster appropriate behavior.
  
• Never leave dogs alone with small children.
• Avoid playing aggressive games like tug-of-war with your puppy or dog.
• Do not place your dog in a situation where it can be teased or feel threatened.
• Train your dog to obey commands.

Another loss exposure to consider.
You may face liability claims if your dog gets out in the road and causes or contributes to an auto accident. Homeowners can be sued for violation of leash ordinances by allowing their dog to "run at large." Use a well-maintained and sturdy fence or other safeguards to reduce this exposure.

No. A financial credit score factors in your payment history, the amount of credit you owe, the length of your credit history, the types of credit you have and the amount of credit for which you apply. On the other hand, an insurance score is a three-digit number used to estimate the likelihood of you filing a claim. Your insurance score is a combination of your credit score and your insurance claims history.

Insurance companies began incorporating financial credit scores a few years ago, because studies have shown people with a lower credit score have a greater chance of having more claims than those with a higher credit score.

Just like credit scores from companies Experian, TransUnion and Equfiax may be similar but not the same,  insurance scores differ as well because no two insurance companies use the exact same method to calculate your score. Some may also include information of other policyholders with similar traits to yours. Because Connecticut Insurance Exchange represents over 20 A+ rated insurance companies, we are able to match you with the best company in light of your credit score. So, having a low score is not necessarily a deal killer — having a good driving record and minimizing homeowner risks matter.

Want to improve your insurance score? Check out these tips:

For your auto

• Drive safely and avoid moving violations
• If possible, keep your car garaged or covered to avoid weather-related damage
• Tire traction matters — replace worn out tires, especially in the winter

For your home

• Discourage burglars by leaving a light on when not home; Better yet, install a security system
• Install smoke detectors and keep a fire extinguisher handy, especially in the kitchen
• Before a big storm, put away toys and tools, and secure patio furniture
• Keep your walkways, driveway and steps free of ice and anything that can cause slips and falls

 For your credit score

• Pay your bills in time
• Reduce the balances on the credit you owe

A borrower who has a good mix of secured credit (such as a home or car) and unsecured credit (credit cards) scores better than someone who has only credit cards

The warm weather's here and summer is just around the corner! So, it's a good time to take a tour around your property for a safety inspection.

Here are a few things you can do to keep your family and guests safe this summer.

1. Check your outdoor equipment such as swing sets for sharp edges, rusty bolts and loose parts, and repair or replace if needed.
2. Digging up the yard by planting a tree, starting a garden, putting in a fence or sprinkler system, or having other excavation work done? Think safety first! Always contact CBYD online or by phone at 811 before you start digging so your underground utilities are located and marked. It's free!
3. Avoid grill grease fires and flashbacks by keeping your grill clean (especially the grease trap) and burner tubes where small insects may have made their home, which can block the flow of fuel. Learn more about gas grill fire safety from Travelers.
4. Going on vacation? Don't broadcast your plans on social media! You're not only telling your friends, but you're informing thieves who are waiting for an easy target like an unoccupied home. Wait until you return to post images and videos of your fun.
5. Don't invite crime by leaving bicycles and scooters out on your lawn for thieves to steal. Put your toys away when not in use.
6. Mosquitoes carry a number of diseases, including the Zika virus. One way to keep those nasty pests away is to eliminate standing water around your home, especially after a rainstorm.

SIDE NOTE:  If you have a contractor perform work in or around your home, be aware of the risks: the contractor or their workers could get injured on the job or damage your property. If they are not insured, you may be liable. Ask for a certificate of insurance, to confirm the contractor has insurance. If they have employees (as opposed to sub-contractors), check to see if they have Workers' Comp as well.

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