Northwest Drivers Who Hit Parked Cars Don't Always Leave Notes

Many motorists don't leave proper contact information.

A surprising PEMCO Insurance poll found that motorists in Oregon are worse than Washington drivers when it comes to leaving contact information after hitting an unoccupied car. Almost half (47%) of Portland drivers surveyed admitted to leaving the scene without leaving any contact information!

Seattle motorists, on the other hand, said they left notes two-thirds (67%) of the time when they were responsible for damage to a parked car.

In addition to hitting parked cars and driving away without leaving a note, most drivers in both states responded that they've been involved in an accident at least once, and men are significantly more likely than women to be involved in an accident, no matter who was at fault. The poll also found that 62% of Washington men admitted to be at fault in an accident, whereas 51% of women admitted to being to blame.

For those involved in an accident, Washington motorists again proved to be more proactive. PEMCO's poll revealed that 56% of Washington drivers called 911 following the accident, while only 39% of Oregon drivers did.

While it's important to take photos of the accident scene to document the situation, only one-quarter of drivers say they did. Younger drivers were much more likely to take pictures of the collision than older drivers. Nearly half (49%) of Washington drivers under 35 took the photos, while 52% of young Portland drivers did.

Drivers in Portland must immediately notify law enforcement of the accident if damages total more than $1,500, according to Oregon’s Department of Motor Vehicles. In Washington, drivers must notify the Washington State Patrol if vehicle damage exceeds $700 – but drivers have up to three days to file a report.

Proper things to do if you are involved in an accident:

• Stop and determine if anyone is injured. If needed, call 911 for help.
• If it can be done safely, move your vehicle to the side of the road. 

• Exchange contact and insurance information, but don’t discuss responsibility for the accident.
• Take photos of the damage.
• Report the accident to the local police.

ACV vs Stated Amount vs Agreed Values for Vehicles

Every time you get into your car and start the engine it is very likely that pennies fall off. Well, not actual pennies but the value of the car drops a very small amount each mile it is driven. This is because most cars are a depreciating asset. With this in mind let's talk about three common ways you can insure the value of your vehicle. The three ways are Actual Cash
Value (ACV), Stated Amount and Agreed Value.

Actual Cash Value is the most common form of valuing a car by insurance companies. What this means is that after an accident they take the original value of the car when it was brand new and they then depreciate the car over time until the date of the claim. They taking into account the miles driven, prior damage to the vehicle, wear and tear and maintenance upkeep of the vehicle. The farther away you are from the date the car was made the lower the value of the car.

Stated Amount is a little bit different. In this case you would tell the insurance company what you feel your vehicle is worth, say $30,000. This $30,000 is now the most the insurance company will pay out for the car, however when you have a claim they will research to see what other vehicles similar to yours are being valued for. If that value is less than the $30,000 they will give you the lesser amount. You often see this in collectors cars or cars that have a lot of specialize equipment attached to the body of the vehicle.

Agreed Value is where both the insurance company and you come to a prearranged value for your vehicle. When you agree upon this value, say it is $30,000 again, when a claim arises you are going to automatically be paid the agreed upon value of $30,000. Unlike Stated Amount, they do not go out and decide if the market still feels your car is worth a certain amount, they just agree to pay the agreed upon value that was settled before the claim even happened. This is most used for classic/collector cars. In fact it is best to make sure your classic/collector car is an Agreed Value instead of a State Amount. Often this requires an appraisal which may cost a little money to have done. One other thing to take into account when vehicles are insured for an Agreed Value, they can often have a limit on how many miles the vehicle can be driven each year.

For more information on valuations of vehicles please feel free to get in touch with Fey Insurance Services. We have been serving the Oxford, OH and Cincinnati, OH areas since 1958.

Technology: Blind Drivers in the Future?

Technology has made incredible advancements in improving a driver's experience behind the wheel. GPS systems, voice-activated directions, Google map displays, and back-end and side sensors that warn of pending collisions or accidents and brake appropriately are just a few of the recent innovations by car makers that make driving easier. But, now there's talk about someday allowing totally blind people to drive.

How far will it -- or should it -- take us? There are currently cars that can do simple things like parallel park themselves, but soon there may be automobiles capable of driving themselves, based on GPS, laser, radar and three-dimensional data. Cars that can do smaller functions, such as control a car in traffic jams, keep you inside lane markings or auto-park, are already on the road or about to come to market courtesy of Toyota, Mercedes, BMW and others. Recently, Google has had success getting laws passed in Florida, California and Nevada allowing the the testing of automated cars, with no drivers in them. But, these have been limited to controlled situations, and constantly overseen by engineers and technicians.

While advancing technology is marvelous, there are many times when a sighted driver needs to take control during an 'unplanned episode', like swerving to avoid an animal or another automobile. Would a sightless person sitting in a moving car in traffic be an insurance and liability nightmare? A blind person, trusting his or her car to be able to respond to a road hazard or pending collision while they are sitting there helpless to assist, could prove to be disastrous -- or even deadly. What if it involved the injury or death to a pedestrian, because the computer didn't recognize the danger and the driver couldn't see it? The result would be undoubtedly be a huge lawsuit and maybe even criminal charges. Who would be at fault, the blind person sitting behind the wheel, who trusted the technology, or the car manufacturer?

Currently, there are more than 15,000 visually-impaired people allowed to drive in the U.S. using a special lens system called "bioptic driving". The car is equipped with a main lens for a wide road view, and a telescopic attachment for close-up details such as reading street signs.

While visual aids for visually-impaired drivers is one thing, having a blind person behind the wheel of a car, with all that can go wrong on the roads and highways, is a potential disaster. Computers and technology is amazing, but as everyone knows, they can crash or freeze up without warning. What happens when the blind person needs to take over manually after the system goes down while heading down a busy highway at 60 or 70 mph? It's a scary thought, but that technology is not far away.

Source: BBC.co.uk

Time for Some Financial Spring Cleaning

Spring has officially arrived. And with warmer temperatures and longer days, you might have been feeling the urge to do some spring cleaning.

But before you wear yourself out shampooing all the carpets, think about what you can do to clean up your finances first! Here are four great places to start...

1. Organize your tax records. You’ve probably recently filed your taxes and have everything fresh on your mind. Make sure you have copies of all the important documents labeled and filed properly. Think about your tax experience this year. Were there records you should have kept or important details you were missing? Get prepared for next year now! You’ll be thankful that you did when next year’s taxes roll around.

2. Check your credit report. It’s great to get in the habit of regularly reviewing your credit report. Credit scores can impact everything from your interest rates to job offers to insurance rates! It’s also estimated that most credit reports have some kind of error on them. Check out www.annualcreditreport.com to request a free copy of your report each year.

3. Review your budget. If one of your New Year’s Resolutions was to save money or pay off debt, then now is a great time to check your progress. The year is 1/4 over. Have you made progress? Revisit your current budget and adjust as needed to keep moving forward.

4. Review your insurance. Your insurance needs can change pretty often. You change jobs, get married, buy a new house, have a baby, or buy an expensive toy (like a boat). All of these things can trigger changes in your insurance! That’s why it is critical that you establish a relationship with a local agent and set aside time to review your coverage.

Give us a call at 888-867-2866 to schedule a phone or office consultation. We’ll review all of your policies and help you get the best coverage for the best price.

What other things do you include in your own financial “spring cleaning”? Tell us in the comments below!

Prepare Now For Any Spring Storms and Floods

March and April is that time of year when severe storms can cause flooding and downed trees, resulting in the loss of power or damage to your home and property. While you can’t
avoid strong thunderstorms, there are ways to prepare in advance to keep your family
and belongings safe. Here are a few tips to help you plan.

Be prepared in the event of a flood!

Gather emergency supplies. It is recommended that every family have a minimum of
three day’s supply of food and water. Throw in a battery powered radio, extra
flashlights, and extra batteries, too.

Create a Family Emergency Plan. Teach your children where to go to seek shelter in
case of a tornado or flash flood,  and how to contact you if you aren’t together at the time of the storm.

Know if you live in a flood prone area. Remember, it takes 30 days to issue a flood
insurance policy! If you need flood insurance, now is the time to get it started.

Know how to shut off utilities, including power, water, and gas to your home. Put the
tools you need in your emergency supply kit.

Find out what your homeowners insurance covers. It is important to understand what is
covered and what your deductibles are in case of damage. Set up a free consultation
and annual review with SAV-ON Insurance Agencies to learn about all of your polices.

Overall, the best way to protect your family is by having the right insurance and taking
extra precautions during storms. If you have any question, give us a call at 888-867-2866.
Our goal is to help you protect your family.

Rough Notes Teen Driving Video

Having a child that is just starting to drive can be very stressful.  As  a parent you will worry about them everytime they step into the driver's side of a car.  The only thing you can do, though, is to educate your new driver as best you can.  Rough Notes created an educational video for new drivers.  It focus on insurance but also talks about being responsible.  This is a great video to show new drivers. 

Certificates of Insurance

It is good risk management for customers to check and make sure their vendors have insurance. Because of this small business owners are often asked to prove to their customers they do indeed have insurance. When customers ask for proof of insurance what they are often asking for is a form called a certificate of insurance. A certificate of insurance gives the basic information of a business insurance policy. It tells things such as the insurance company's name, dates the policy covers, name of the insurance agency who handles the policy and highlights the different types of liability coverages the policy has and the limits or amount of insurance in each of those coverages.

Any type of business can be asked to provide a certificate of insurance. Three areas where you see certificates of insurance most commonly asked for are construction and maintenance contractors, businesses that lease space and consultants. The reason that construction and maintenance contractors are often asked to show certificates of insurance are because their customers want to be sure if they cause injury around their premises or damage around their premises that they are covered. Also, many contractors are acting as subcontractors to other construction and maintenance companies. If their subs cause damage or injury they want to be sure they have insurance because if they do not they will then be the responsible ones.

People that lease space are asked for certificates because the owner of the building wants to make sure that if they cause damage to the building they have insurance to put the building back as it was prior to incident that caused damage. They also want to make sure if the person leasing space is responsible for someones injuries while they are visiting the building that they have insurance in place to cover those injuries.

Consultants are asked to provide certificates of insurance in order to meet contract requirements. Often, consultants sign a contract with their customers and in the contract there is always an insurance section that outlines the required coverages they must have. The best way for that customer to make sure the consultant is meeting the requirements is to ask for a certificate of insurance.

So the next time you are asked by a customer to show proof of insurance you will understand that you are being asked for a certificate of insurance. Contact your agent and let them know you need a certificate of insurance. Make sure to provide them with the name and address of the company or individual that is asking you for the certificate.