<![CDATA[Toth Felty Insurance Agency  <br />6285 Pearl Rd, Suite 10<br />Parma Hts, OH 44130<br />440-888-7854    - Insurance News]]>Wed, 02 May 2012 09:54:03 -0800Weebly<![CDATA[Post Title.]]>Thu, 23 Feb 2012 09:56:13 -0800http://www.tothfelty.com/3/post/2012/02/post-title-click-and-type-to-edit2.htmlHomeowners Insurance vs Hazard Insurance

"Hazard" insurance means, stuff that can happen to the building. Mortgage companies use that term.
Homeowners insurance, covers the building, plus a lot more - like contents, your liability, medical payments, and loss of use.
Homeowners insurance is the CHEAPEST way to make the lender happy, and it gives you the most coverage, if the house is going to be owner occupied. ]]><![CDATA[Umbrella Policies]]>Mon, 09 Jan 2012 19:33:04 -0800http://www.tothfelty.com/3/post/2012/01/post-title-click-and-type-to-edit1.html_
What is umbrella insurance? Umbrella insurance is basically extra liability coverage. Instead of protecting you from rain, like the name suggests, umbrella insurance is meant to cover any limitations you may have with your existing insurance coverage.

If you’re involved in a lawsuit where the judgement is more than what your auto or homeowners insurance policy covers, the difference would normally have to come out of your pocket. If you have an umbrella policy, though, it will cover the difference and protect your assets.

What does umbrella insurance cover? Like many insurance policies, the details depend on what you sign up for. The are some surprisingly broad situations that umbrella insurance can cover for you. They include:

  • Property damage liability – This covers any loss or damage to someone else’s property due to your vehicle, pet, or yourself.
  • Slander/libel – If you make an injurious statement that causes someone a loss, your umbrella policy might provide some protection.
  • Bodily injury liability – This covers any medical bills another person suffers due to an accident where you’re at fault.
  • Legal fees and defense – This coverage almost makes umbrella insurance worth the cost itself. Attorneys can be expensive, and if you’re getting sued, having your legal costs covered can give you some peace of mind.
]]><![CDATA[Ohio Homeowners Insurance Coverage]]>Wed, 30 Nov 2011 14:47:11 -0800http://www.tothfelty.com/3/post/2011/11/post-title-click-and-type-to-edit.html_
Ohio Home Insurance Coverage Homeowners insurance coverage can vary significantly among insurance companies.   It’s critical to understand the different coverages available to protect your most valuable asset.  Two of the most important  items to keep in mind when considering Ohio home insurance coverage  are:  1) how is my property going to be valued should you have a loss, and 2) will what happens to my home be covered? 

Most policies Ohioans buy for their homes include replacement of the house.  Known as “replacement cost”, it will pay to rebuild your home without deducting for depreciation.   You can also opt to have replacement cost coverage on your personal property or contents.  It will pay “new for old” so if your 12 year old furniture is destroyed, the insurance company will buy you new furniture.  Although this is more expensive than insuring property to its ‘actual cash value’, make sure you know which valuation you are being quoted when comparing insurance companies.  

Another homeowner coverage feature to be aware of is whether you are being quoted “named perils” or “special” perils, also known as “all risk”.  Perils are the things that can happen to damage your home or personal property, such as fire, wind, hail, theft, broken pipes, etc.  Special perils include anything that can happen to cause a claim, except those that are specifically excluded in the policy.  With named perils, the perils are listed in the policy that trigger a covered claim.  If it is not listed, then coverage does not apply.  Named perils include fire, windstorm, hail and theft, among others.  Many large insurers will quote special perils on your home and named perils on your personal property.  This is less expensive for you, because there could be a claim to your contents that isn’t covered.
]]><![CDATA[Employment Practices Liability Insurance (EPLI) Coverage]]>Tue, 01 Nov 2011 16:27:24 -0800http://www.tothfelty.com/3/post/2011/11/employment-practices-liability-insurance-epli-coverage.html
If you run a business and have employees this coverage is essential!

Wrongful terminations claims are increasing as more employees dissatisfied with the terms of their firing or dismissal are choosing to take the matter up with their former employers in court. As more and more workers are laid off or terminated because of the current poor economic environment, these lawsuits are expected to increase.

Employment practices liability insurance provides companies with coverage for claims that may arise as a result of a company’s employment practices. According to industry experts, the chance of a business facing an employment claim is much greater than that of it facing a general liability claim. These claims can be costly. The average out-of-court settlement for an employment practices case is about $40,000. If the case goes to court, the average award is $218,000, and nearly 10 percent of these cases can result in an award of more than $1 million. Legal fees are also quite expensive in these cases. The average cost of defending a wrongful termination or employment case is about $45,000.

With the potential for big losses that employment-related suits pose, it’s no surprise that more and more employers are purchasing EPLI policies.

]]><![CDATA[Is your house underinsured?]]>Sun, 16 Oct 2011 08:21:14 -0800http://www.tothfelty.com/3/post/2011/10/is-your-house-underinsured.html After a natural disaster, too many people discover an awful truth: They don't have enough insurance to rebuild their homes.
Nationwide, 68% of homeowners are underinsured, according to a survey by insurance-services firm MSB, by an average of 18%.
That means someone whose house cost $200,000 to replace would find themselves short by $36,000!
Call us at 440-888-7854 to make sure you don't fall into this category.

]]><![CDATA[October is Breast Cancer Awareness Month. Breast cancer is the second leading cause of cancer death in American women, second to lung cancer. One in every eight women will get breast cancer in her lifetime, but only one in 28 women will die from it.]]>Sun, 02 Oct 2011 19:02:28 -0800http://www.tothfelty.com/3/post/2011/10/here-are-two-crazy-stories-a-driver-claimed-they-were-leaving-for-work-one-morning-and-drove-into-a-school-bus-parked-at-the-end-of-their-drive-a-claim-was-filed-against-the-bus-driver-since-the-bus-was-five-minutes-earlier-than-they-had-expected.htmlHere are two crazy stories:

• A driver claimed they were leaving for work one morning and drove into a school bus parked at the end of their drive. A claim was filed against the bus driver, since the bus was five minutes earlier than they had expected and therefore obviously at fault. (as told by English comedian Jasper Carrott)

• A woman meeting her husband, a Navy crewman who was coming into port that day, parked at the end of the slip where the submarine was due in to berth. There was an inexperienced ensign at the helm who overshot his landing and hit the end of the slip, breaking a section away and sending the car plunging into the water. Needless to say, those damages were on Uncle Sam! (as told at www.businessballs.com)

]]><![CDATA[First Post!]]>Sun, 02 Oct 2011 18:29:52 -0800http://www.tothfelty.com/3/post/2011/10/first-post.htmlStart blogging by creating a new post. You can edit or delete me by clicking under the comments. You can also customize your sidebar by dragging in elements from the top bar.
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