Category Archives: Personal Insurance

Wedding Insurance: Protecting The Special Day

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We are sure you want to make your wedding day the most memorable day of your life. There are lots of decisions to be made regarding the banquet hall, the food, the dress, the flowers, the most delicious wedding cake, the music, and of course the best photographer available to capture all the special moments. Yet, even though you think that you have covered every contingency, sometimes things can go wrong no matter how carefully you plan.  

There are  horror stories of bridal shops going out of business and an entire wedding party unable to get their dresses. Or what about a reception venue that suddenly declares bankruptcy a month before your special day taking with it your non-refundable deposit? Suppose the culprit is a black-out, a hurricane or a severe  weather emergency which results in a postponement of the nuptials.

While a wedding is typically expensive, the insurance to protect your wedding plans is reasonable and certainly can fit into any budget! Are you aware that you can protect your investment with a Wedding Insurance Policy for as little as $180.00? Would you say this is a small price to pay for the peace of mind?

Let us share some information:

The Wedding Protection Plan covers such circumstances as:

  • Damaged or lost wedding bands;
  • Ruined photos;
  • Damaged Wedding Gifts

AND there is more. It can also reimburse you for non-recoverable expenses if you need to postpone your wedding because of situations such as:

  • A sudden illness on the part of the bride, the groom or even their parents thereby preventing them from attending the wedding; 
  • A commercial transportation shutdown resulting in a situation where the bride, groom or their parents cannot get to the wedding;
  • A bride and/or groom who are in the military and are unexpectedly called to active duty requiring postponement of the event.

If you want to learn more about this important and affordable insurance, please do not delay. Contact us at Petschauer Insurance, and we will  be happy to share more information with you….. and no worries – you don’t have to invite us to the wedding!

Happy wedding planning and here’s wishing you a lifetime of happiness!  We can’t wait to see the photos!

 

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Have You Updated Your Homeowners Insurance Policy Lately?

stock-photo-6289320-happy-family-of-three-at-homeWhen was the last time you updated your Homeowners Insurance? Have you ever updated your coverage? These are important questions to ask yourself. If you have not reviewed and updated your insurance lately, there may be several reasons why you may now be underinsured.

1. Recently Remodeled Your Home
2. Made a Big Purchase
3. Made Safety Improvements/Additions to Your Home
4. Made Changes in Your Household or Lifestyle
5. Have a New Furry Member of the Family

If you have gone through any of these since you last reviewed your policy, it may be time to take another look at your Homeowners Insurance policy. Contact Petschauer Insurance for all of your insurance needs.

Must You Provide Insurance For Your Nanny or Housekeeper?

I have a friend who is a single mother of two young children, two puppies, a turtle, a cat, and a frog aside from running her own business. Trying to manage her career, the social life of the boys and the health and well being of their pets was wearing her out so she employed the services of a Nanny. Everything was going well until the Nanny tripped over one of the dogs and injured her knee resulting in arthroscopic surgery and months of visits to a physical therapist. What a shock when my friend found out that as the Nanny’s employer she was responsible for the medical bills. Are you aware that full time employees(those on your premises 40 or more hours a week) must be provided with Workers’ Compensation and, in some cases, New York State Disability?


My friend never gave this a thought prior to the accident. She just figured that her homeowner’s policy would cover the medical bills because the accident happened in her home. However, the Workers’ Compensation rider of a homeowner’s policy doesn’t cover any domestic employees (defined, but not limited to, Maids, Cooks, Housekeepers, Laudresses, Butlers, Companions, Gardeners, Chauffeurs, Nannies, Home Health Aides, Au Pairs, Nurses, Baby/Pet-sitters) nor does it cover people working for individual(s) in a home-based business. And on top of all this, the government can impose significant monetary penalties for not having this mandated coverage in place should an accident occur.

Another friend of mine always employs PetSitters to watch her menagerie of pets when she goes away on frequent vacations. She recently was advised that if the PetSitter stays in her home continuously from Friday evening until Sunday evening, a period of roughly 48 hours, that both Workers’ Compensation and New York State Disability would be required.

I checked the New York State Fund website and it actually states that “Workers’ Compensation and New York State Disability are required from the first day of the first week in which a domestic puts in 40 or more hours while either working or living on the premises.” There is an exception for Disability in that benefits aren’t required if the domestic (s) works in a private household less than 40 hours a week and doesn’t live on the premises.

So, let’s not be “penny wise and pound foolish” and let’s “be prepared” because we never know when a maid could trip over her apron strings, the butler could close the door too quickly causing injuries to himself and the chauffeur could collide with a SmartCar filled with clowns!

– Karen Skoler, CPCU

September is Life Insurance Awareness Month

wpid-1332151853_life-insurance-policyWhen my daughter was young and money was tight, my husband took out a Term Life policy which is much less expensive than a Whole Life policy. As she got older and I went back to work, I took out Whole Life insurance. Subsequently, my husband’s health deteriorated to the point where he was no longer eligible for affordable life insurance. Today if my husband was to die, there would be no life insurance. I would be left to pay the medical bills, funeral costs, and my mortgage. I am very lucky because at my age I am still in relatively good health. However, that can change in a hot minute making me ineligible to purchase additional life insurance in conjunction with retirement planning.

As the wife of an insurance salesperson, I listened to my husband educate his clients about the value and purposes of life insurance for many years. Lucky for me, he was good at what he did and, therefore, was able to earn a modest living and take care of his family. As a matter of fact, any time I heard him explain what life insurance could accomplish, I was so moved I wanted to buy a policy myself!

He would start by telling his client that life insurance could be used to replace the income of the primary wage earner(s) if one or both of them was to pass. It could also be used to provide the monies to hire people to care for the home and the children, pay up a mortgage, cover funeral costs, build up cash value for retirement, pay inheritance taxes on a large estate, fund a buy-sell agreement, or protect a business from major disruption in the event of a “key person’s” demise.

One salesperson in my husband’s organization requested that a client return their policy if they could no longer pay for it. He claimed that he didn’t want to get a call from the surviving spouse and have to be the one to tell them that the policy was cancelled. He claimed that once, when a client had to deal with this exact situation, it actually caused the survivor to have a heart attack on the spot. Once was enough for him!

The bottom line is that insurance is as important as a will, health insurance, and a health proxy. Nevertheless, you would be shocked at the resistance people have to discussing the subject much less purchasing the product. I have a favorite line which is, “nobody gets out of here alive.” To me, this is a given. I realize that you can’t take it with you and I suspect that you would probably have no use for it if you could. Therefore, why not provide for the unexpected by funding a life insurance policy tailored to the time of life and circumstances in which you find yourself right now?

-Karen Skoler