CONSIDER THESE FACTORS REGARDING UMBRELLA INSURANCE

Standard Auto, Homeowners and Boat insurance policies cover liability a person might have for injuries or property damage suffered by someone else. Insurance companies design them to cover accidents for which the insured person might owe tens or even hundreds of thousands of dollars. However, sometimes the person might be responsible for an accident so catastrophic that the damages are $1 million or more. To cover financially devastating events such as these, insurance companies offer Personal Umbrella policies. These policies provide additional protection when an accident uses up the amounts of insurance provided by the other policies. They might also cover some types of losses these other policies do not cover.

There is not a “standard” Umbrella policy; each company’s offering will be different. Therefore, it helps to have a checklist of considerations when evaluating a policy.

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ON DEADLIEST DRIVING DAYS, USE EXTRA CAUTION

With more than 34,000 car crash fatalities in the U.S. annually, there’s no question that driving can be dangerous any day of the year. However, research shows that holidays are often the deadliest days to be behind the wheel.

Turkey Day = High-Risk Roads

It turns out that Thanksgiving Day is the most lethal driving holiday. As a matter of fact, 502 people died in car accidents on Thanksgiving Day in 2008 -- that’s a whopping 400 more car-related deaths than a typical day. The vast majority of these fatal car crashes occurred at night.

Believe it or not, that number is down from previous Thanksgivings. The DOT started tracking traffic fatalities in 1982, and the 26-year average of Thanksgiving Day deaths had been 556. Some experts say fatalities dropped partly because sky-high gas prices kept many drivers off the road.

It’s no wonder why Thanksgiving ranks as the most fatal driving day. According to the National Safety Administration, Thanksgiving weekend is the most traveled holiday period of the year, and nearly 90% of Turkey Day trekkers travel by car. Although the DOT has not yet released 2009 Thanksgiving stats, some experts predicted fatalities would be higher because lower gas prices would lead to more drivers on the road.

Eat, drink, and be merry -- but don’t drive

One reason holiday driving is so hazardous is because many drivers enjoy a few too many festive drinks before they hit the road on these special days. Based on National Highway Traffic Safety Administration statistics, nearly half of all traffic fatalities on New Year’s Day are alcohol-related -- the highest number of any holiday.

Other hazardous holidays

Based on DOT research, the following are the top five most dangerous holidays for drivers heading out the highway:

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No. 1: Thanksgiving Day
Number of Fatalities in 2008: 502
Average Number of Annual Fatalities since 1982: 567

No. 2: Labor Day
Number of Fatalities in 2008: 487
Average Number of Annual Fatalities since 1982: 544

No. 3: July 4th
Number of Fatalities in 2008: 491
Average Number of Annual Fatalities since 1982: 542

No. 4: Memorial Day
Number of Fatalities in 2008: 425
Average Number of Annual Fatalities since 1982: 508

No. 5: Christmas Day
Number of Fatalities in 2008: 420
Average Number of Annual Fatalities since 1982: 414

Buckle up

If you’re planning to hit the road on one of these holidays (or any other day) be sure to buckle up. According to The National Safety Commission, more than two-thirds (67%) of car occupants who died on Thanksgiving 2008 were not wearing their seat belts.

Many states have more stringent seat belt laws these days for this very reason. In most states, law enforcement officers can pull you over and cite you simply for not wearing a seat belt regardless of whether you’ve broken any other traffic laws. In recent years, the National Highway Safety Administration (NHTSA) has sponsored a nationwide “Click-It-Or-Ticket” campaign on Thanksgiving weekend. This is all the more reason to stay buckled up on holidays, and every other day.

Slow down

Another thing you can do to protect yourself on the road is to watch your speed. Speeding is one of the most common causes of traffic crashes. That’s because when you speed, you have less time to react to an emergency on the road. Plus, high speeds increase the crash force of a collision.

Although you should remain vigilant on these high-traffic holidays, it’s important to buckle up, watch your speed, and keep your eyes on the road every time you get behind the wheel. After all, holidays aren’t the only days when car crashes occur. So, drive safely, on holidays and every day.

EARTHQUAKE PROTECTION – NOT JUST FOR CALIFORNIANS

When the threat of earthquakes arises, most Americans think only about California, or more recently, Haiti. For many years, the San Andreas Fault Line has been the recipient of much of the press concerning earthquakes in the U.S. Furthermore, predictions concerning the ultimate cataclysm believed by many to be centered there have given it a mythical stature unrivalled by fault lines elsewhere in the country.

Despite all the focus on the San Andreas Fault, California does not have a monopoly on earthquakes. The New Madrid Fault Line, centered in Missouri, has been cited by the U.S. Geological Survey as being a potential source of a significant earthquake threat. The USGS also notes that earthquakes in the central and eastern parts of the country usually have a broader range than their western counterparts. One such earthquake along the New Madrid Fault Line in 1811 rang church bells as far away as Boston, Massachusetts, about 1,000 miles away from the epicenter! More recently, in April 2003, a quake measuring 4.9 on the Richter Scale hit Alabama. A year earlier, a slightly more powerful quake hit Plattsburgh, NY. In January 2002, a 5.0 quake hit Evansville, Indiana. These quakes all shook neighboring states and caused significant damage to businesses, homes, and infrastructure in and around their epicenters.

Although none of these quakes equaled the intensity and resulting damage caused by the Northridge Earthquake of 1994, they do serve to support the idea that it might be wise to consider adding Earthquake coverage to your property policy even if you are not located in close proximity to a known fault line.

Since Earthquake insurance is generally an elective coverage, it might prove to be beneficial to do a quick review to determine whether or not it is a covered peril. Also, look at any scheduled property endorsements or personal property floaters to see if specific items are covered for earthquake-related damage regardless of whether or not the earthquake coverage endorsement has been purchased. If the answer is “no” to any of these questions and you would like to obtain a quote, contact our office for details.