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In this episode of Ask Sherri, she answers everyone’s question: “Why is Petschauer Insurance moving?”.
Starring: Sherri Consentino & Lori Halloran
Filmed and edited: Daniel Bonilla
With the spirit of love in the air as Valentine’s Day approaches, it is only appropriate for us to bring back our classic Valentines’ Day episode of Ask Sherri. If you plan on proposing this Valentine’s Day or just getting your loved one an expensive gift, we highly recommend that you check out this episode. Sherri will show you why you may want to consider a Floater Policy or adding extra coverage to your Homeowners or Renters Policy for these special gifts. And…. why you may want to stay away from putting your ring in the cake…
I’m adding my newly licensed son as a driver to my auto policy; I know this change is going to be expensive. What can I do to offset the increased premium?
Mom in Panic
Dear Mom in Panic,
First, take some deep breaths, meditate, and if that doesn’t work out, hit the liquor cabinet! But honestly, there are plenty of things you can do to offset the premium increase, such as:
- Have all drivers on your policy complete a Defensive Driving Class
- Apply for Good Student Credits
- Having a College Degree
- Garage your Vehicles at night
- Pleasure use versus driving to/from work (use public transportation for your commute)
- Higher deductibles on physical damage coverage
- Mature Driver/Retiree Discount
- Multi-Car Discount
- Multi Policy Discount
- Driver’s Education Courses
By the way, now is a great time to make sure you have high bodily injury limits and purchase an umbrella policy. Call your agent today for more detailed information on these items.
I’m planning on doing all my holiday shopping the day after Thanksgiving, which is commonly known as “Black Friday.” I will be leaving many gifts in my car while I shop the entire day. If someone breaks into my vehicle or worse, steals the vehicle with all the gifts in it, will I have coverage for the gifts?
Worrying at the Mall
Dear Worrying at the Mall,
As the famous Reggae singer, Bobby McFerrin sang, “Don’t worry, be happy.” As long as you have “Off Premises Theft Coverage” on your Homeowner’s or Renter’s policy, you are covered. In some states the coverage is automatic while in others you must purchase this coverage separately. Of course, don’t forget that your deductible will apply in this type of situation. Now, what I’ve said applies to most of us, but if your last name is Gates or Rockefeller, keep in mind that most policies have a limitation for jewelry, furs and fine arts. If this is you, I want to be your new BFF and my ring size is a 7 and my birthstone is a DIAMOND! If you are purchasing these types of items be sure to check with your agent to confirm how much coverage on valuable items you have for each classification.
Dear Sherri, A tree on my property fell and damaged my roof. The estimate to repair the roof is approximately $2,900. Since I have a $2,500 deductible, should I report this claim to the company? – Timberrrr in Park Slope
Well, now we have confirmation that “A Tree Grows in Brooklyn”. Or at least it did! That being the case, I wouldn’t submit a claim. Now, before you say, “that’s why I have insurance!”, let me explain. You have insurance for MAJOR property and liability claims. This small claim of only $400 after the deductible would be on your record for the next 5 years. If, God forbid, you have another claim in that same year due to a severe storm, your insurance company may non-renew your policy. Now you have to buy a more expensive policy and that will quickly eat in to those $400 you saved on your roof due to the claim. The point is, call your insurance agent to discuss it before you take any action and determine what is in your best long-range interest.
With the 25th Anniversary of Forrest Gump happening this week, Petschauer Insurance decided to pay homage to this classic film in it’s Ask Sherri series. Enjoy!
We continue our Alfred Hitchcock Special episode of Ask Sherri.
Petschauer Insurance is happy to release its Holiday Ask Sherri Video. While it may be brief, it contains an important reminder for all of us during this Holiday Season. Happy Holidays from all of us to you!
Dear Sherri: I sit on the Board of a large non-profit organization that already has Directors and Officers Liability. As a result of my work on this Board, I was recently asked to join another Board of Directors also of a non-profit organization. Will the policy I am currently insured under provide coverage for me on this second board?
Dear NY Boarder,
Oh God, now I’m bored! Anyway, in answer to your question, yes, the original D&O policy will provide coverage, provided that it includes coverage for “Outside Directorship”. This is an automatic extension that provides coverage for directors serving on other non-profit boards as part of their duties. I know this sounds like a “Who’s On First” skit, but it is something important to consider before accepting an invitation to sit on another Board. So check the policy to make sure that “Outside Directorship” coverage is included and that the second Board is also a NON-PROFIT ENTITY.
Be sure to call your insurance agent for more details.