The Strickler Express is Strickler Insurance’s Newsletter for friends and clients of Strickler Insurance. We have been sending out the Strickler Express since 1982. Contact us to learn more about insurance and request a free insurance quote.
What Should I Do?
Have you ever been standing at the car rental desk when the clerk asks, “Would you like to add insurance to your rental vehicle today?” And you wonder…. “Does my auto policy cover the rental? Does the credit card that I’m using to pay for the car cover it? Or should I buy the rental company’s insurance?”
Unfortunately, we don’t have a quick answer for you as rental car coverage can be tricky. What you decide to do depends on several things. First, your auto policy most likely extends coverage to rented vehicles, if you have full coverage on at least one vehicle covered under your policy. HOWEVER, that will not always be true! It depends on where and how you use the rented vehicle. For example, if you’re doing business while away, your personal auto policy may NOT cover you or the rented car. And, you may travel to a country or territory that’s excluded by your policy. Plus, only coverage that you’ve purchased for yourself extends to the rental car. Rental car companies have little tricks up their sleeves when you don’t buy their insurance. And these tricks could stick you with hundreds of dollars of unexpected charges on your credit card if you wreck their car.
First, the rental car company receives income by renting their cars – obviously. If you wreck their car, they can’t rent it to anybody else until it’s fixed or replaced. In theory, they’re losing money and they’ll charge you for that “loss of use”. And that makes sense. Business insurance commonly pays for such losses – when they’re real. However, insurance companies don’t pay for theories. They only pay for actual economic loss and a personal auto policy might refuse these costs. The rental company has many cars sitting on its lots un-rented. It’s not ACTUALLY losing money because the one car that you wrecked is out of commission. So, your insurance company won’t pay a “loss of use” charge, but that won’t stop the rental car company from charging you for it! And it could be hundreds of dollars.
The second complication is administrative fees. These fees compensate the rental company for all the paperwork they must do to process the claim, to get the car fixed or replaced, etc. Again, your insurance company isn’t going to pay that fee. It’s not an insurance loss. It’s the rental car company finding a way to get more money out of you. Such fees could be as high as $250 … or more!
So, should you buy the rental company insurance at the rental counter or not? If you want to limit all the hassle, then buy it. BEFORE you start your travels, give us a call at 844-655-7480 and we can make sure you’ll be protected in your rental car with the right insurance!
Heather’s Industry Update
The health insurance industry is changing at a rapid pace. Strickler Insurance Agency is here to help you keep up with these changing times.
Those who were uninsured are now getting policies regardless of pre-existing health conditions. We are here to help you enroll through Healthcare.gov if we find that you are eligible for premium assistance. Open enrollment ends March 31st. So if you do not have healthcare, now is the time to shop.
If you do not have coverage or you are looking to save money, please contact our office and ask for Rebecca or Heather.
Home Maintenance Tips
The transition between winter and spring is the time to get a jump on moisture damage and heat loss. Make quick work of organizing storage areas and work in some garden prep before spring. Don’t let winter slip away without using the cold, wet weather to help you detect where your home is leaking water and heat, giving you a chance to seal it up tight and develop a wish list for energy-saving improvements. Your first order of business inside your home is to make sure that no water is getting in. Carefully check every spot where condensation or water could enter your living areas and storage spaces. Take along a pad of paper and a pencil and take detailed notes as you scrutinize ceilings, under the roof, under the eaves and along window and door frames and ventilation seals. Be particularly careful to check under toilets, sinks, tubs, and showers. Use a flashlight to check the crawl space or basement walls and floors and the underside of the first-short floor. You’re looking for visible moisture and for stains caused by moisture. When you find something, the remedy will depend on the source of the leak. You may just need to caulk around a tub or window, or you may need to call a plumber to replace a leaking fixture. While you’re checking for leaks in the bathroom, see if the shower curtain needs replacing. Damp shower curtains can grow unhealthy mold and mildew and contribute to mold problems in the tub and shower, so swap yours out periodically and make sure to open and air out the shower enclosure when you’re done bathing.
West Chester Window: Cyber Liability
As insurance advisors, we are routinely asked by our clients “Do I really need this?” in reference to whatever type of coverage we’re discussing. The various lines of coverage discussed could be something as simple as a personal or commercial umbrella (excess liability) policy, errors & omissions coverage, or most recently, cyber liability coverage.
Often times companies are not aware of the full threat of cyber liability exposure. As we become increasingly reliant on electronic media as a way to store or exchange personal information, cyber liability exposures are at an all-time high. And many business owners are surprised when they find out that their general liability policy excludes coverage on this type of material.
When addressing your need for cyber liability, consider what type of sensitive information you are storing or exchanging. Names, dates of birth, social security numbers and medical information are just some of the pieces of data that hackers are looking for to steal someone’s identity. Enter Target as a perfect example of this. If the client has been entrusted with this sensitive data, it’s their responsibility to protect it as well as make their customer whole if something were to happen to it. So how is it protected? Through the cyber liability policy!
Cyber liability insurance would respond to an occurrence where someone did steal that sensitive information. It would pay for notification of customers/clients whose information was stolen, as well as defense for the litigation that is sure to follow. It would also pay to restore that data up to the limit of the policy.
So do you or your business need cyber liability coverage? That’s a question only you can answer. But, with the rising trends in electronic media, we suspect that cyber liability coverage will become as commonplace as a property or general liability policy has become over the past 50 years.
Strickler Insurance Feedback and Reviews
Thank You! We build our Agency on your positive comments:“Best service ever! I have been with Strickler for almost 33 years and wouldn’t go anywhere else. Great staff, great service, great insurance! I would highly recommend them to anyone!”
“I texted Patrick on Christmas day to ask him if he would be in the office the next day. He immediately called me and explained the claims process.”
“Thanks Denise for all your assistance in helping us in obtaining auto and homeowners insurance at a very attractive fee. We saved over $700! Thanks again for all your help. I purchased a new TV for the super bowl!”
-Russell & Carol Horner,