FIGMAN's Blog

On Thanksgiving Day my 23 year old college student son made a confession while he was home for the day. Somehow the topic of Bingo came up and he made a confession about what he and five of his friends did this past Tuesday night. They played Bingo.....! Yes bingo and they have been playing for the past several months...! That's right.....playing bingo with the folks down at the VFW Hall in Springfield, Mo. My son said it was a lot of fun and the older folks there think it is really great that a group of guys in their early 20's come to play bingo and socialize with them. He also confessed bingo was no walk in the park. He said, "those people are serious and the competition is intense." He claimed the people who always win have some kind of computer gadget. He also made mention they make good food and it didn't cost much to eat a very good meal while there.  

The rest of the story is how he took time late Thanksgiving Day to show the teens at the family Thanksgiving gathering how to play the game. What a site to see watching my 23 year old son as a Bingo caller. There the kids sat in a circle on the floor for a couple hours with bingo cards doing their best to keep up. The ages ranged from about 12 to early 20's including our foreign exchange student. I just can't explain what a neat site it was and how good it made me feel to hear my son say these words, "that's a good bingo."  

I guess all is not lost in our world with young people. You hear all about how youth are not responsible and how they don't respect their elders. I suppose what you wouldn't see on the news or hear in conversation is how a group of twenty-something young men play bingo every Tuesday night with the likes of WW2 veterans and widows. It sure did warm my heart and give me a sense of gratification knowing my son was apart of something so simple and good. That is one thing this Thanksgiving holiday I am very thankful for.  

Well in my last blog I was asking for your input about Foreign Exchange students. Of all the things I had concerns about I never dreamed the day after our new daughter arrived we would find out her home country would be invaded by Russia.

Ana is from the country of Georgia and we picked her up from the airport on August 7th. The next day we starting hearing about the conflict in her country. My first thought was, "how do I tell a young girl I don't even know, from a culture I don't understand that her home land appears to be in a war with their neighbor country?" The short story is I eased into it and over a couple days we were able to talk about it and get on the Internet to learn more. She was able to contact her family (who lives in rural Georgia) and she learned all was well with them.

Ana told me conflict with Russia was very common. She said her countries government is very corrupt and she and the normal people of Georgia are just victims who want independence. She is a very bright 17 year old and so far she has adapted well in our tiny town. She says we are a very busy family but she enjoys it. Her favorite food is Oreo cookies and bar-b-que...! More later as our experience continues.

My family is about to embark into new territory. This next school year we will have a foreign exchange student live with us. I have been very reluctant to do this but after much consideration it seems the right situation has come about that makes my family feel comfortable with our decision.

 I am seeking anyone's advise, opinions and ideas that my family may be able to use in our efforts to help a young 16 year old lady have a good positive experience in our country. I take this responsibility very serious as this young adult will experience the USA through our eyes.    

Insurance did you know.....7.0

The purpose of this blog is to help everyone become more informed as insurance buying consumers. It is my plan to post something new every couple weeks. Some of this will be very basic and some in more detail. The information will be based on Missouri but most will apply to Illinois as well. I entertain your questions on the blog and if you want to ask something in private you can email me.

Many people do not understand how earthquake coverage applies or does not apply on their home policy. There are some important things to know about the coverage.   First the standard home policy does not include earthquake coverage. In fact the coverage is excluded from the policy. Not only is earthquake coverage excluded but earth movement is as well. The Earthquake coverage is called an endorsement or an added coverage for an additional premium. In addition to having the additional premium for the coverage there is a separate deductible that applies. In most cases the deductible is a percentage of the house coverage.   An example;

If your home has earthquake coverage endorsed on the policy and your home or dwelling coverage is $100,000 and you have a 10% deductible then you would have to pay the first $10,000 of the claim. In most cases this would be pretty significant damage. According to the state department of insurance in Missouri the average annual premium for earthquake coverage is $85.00.   Call your agent to find out if you have the coverage or if it can be added. If you can't add the coverage I encourage you to call a company that offers the coverage.  

According to the April 2008 edition of Fortune Small Business Magazine, Lemay, Missouri is ranked 85th of 100 great places to have a business and live in the United States. The list included aspects of the great business environment along with alluring leisure opportunities.

Lifestyle factors such as parks, art venues, health infrastructure and average temperature were factors that went into the selections. Strong population growth, low crime and housing cost were also part of the criteria.

Insurance did you know.....6.0

The purpose of this blog is to help everyone become more informed as insurance buying consumers. It is my plan to post something new every couple weeks. Some of this will be very basic and some in more detail. The information will be based on Missouri but most will apply to Illinois as well. I entertain your questions on the blog and if you want to ask something in private you can email me.

Many people are confused related to their home insurance policy related to water damage. Here is a basic concept to keep in mind when thinking of your insurance coverage related to water damage.

If the water originated within the structure of your home and it was a sudden and accidental direct physical cause then you will likely have coverage for the loss.

If the water originates outside the structure of your home no matter what the cause then generally it is not a covered loss.

Here are some examples;

Your water pipe freezes and breaks and causes water damage inside your home this should be a covered loss. This meets the definition of a sudden accidental direct physical cause within the walls of the structure of your home. This loss is covered on all Special Form policies in Missouri.

The rain water overflows your gutters because your gutter is not drained away from the home properly and the water runs along side your basement walls and floods your basement. There is no coverage for this as there is no accidental direct physical cause that occurred. This is considered a lack of proper installation or the lack of maintaining your property properly. The issue is also on the

outside of the structure of the home with no damage to the structure. This is considered flood water and can only be covered by flood insurance.

It hails so hard that the hail causes your roof enough damage that you have a leak in the ceiling and the ceiling falls in. This is a covered loss as you have the accidental direct physical cause of hail that created the damage to cause the water to get in the house.

The damage is also on the structure of the home. This loss is covered on all Special Form policies in Missouri.

You live at the bottom of a large hill or bluff. It comes a hard down pour and the water runs off from the hill side against you home and floods the basement. This is considered a flood because the water is considered run off or flood water. There are two reasons the event is not covered. First the water is considered flood and it is an excluded cause of loss in the insurance policy.

Secondly the water did not originate from within the structure of the home. The only way to cover this is through Flood Insurance.

If you live near or in a Flood Plain you should consider buying Flood Insurance to cover flood water damage. You should also consider buying Sewer and Drain Backup coverage as an endorsement for your home policy. The Sewer and Drain backup coverage covers a loss due to a sewer or drain backup in your home.

If you have questions I will be glad to answer them.

Well in 1999 it was...check out some other items of interest......!                

1999 Gas =99.8                       2008 = 3.19

1999 Crude Oil = 16.65           2008 = 105.00                                        

1999 Gal Milk = 2.96               2008 = 4.08                                                  
   

1999 bread = .79                      2008 = 2.19  

1999 US Surplus                                            
                                                      

178 million                                     – $ 9,297,375,989,915 and counting  

If we get the tax refund promised by the Federal Government, did you know in Missouri we will be taxed on that refund? Yes, the tax we paid already will be refunded then we will be taxed again...! Say WHAT...!

I found out Representative Holsman of Kansas City has introduced a bll to make this exempt for Missouri Income Tax. The problem is, Rep. Holsman is in the Minority Party and it may be impossible for the bill to even be heard much less debated and voted on.

If you think this is wrong email, call or write your state representative. You can find your state representative on the following state web site;

http://www.house.mo.gov/content.aspx?info=/bills0
81/member/memmail.htm

If you act you can find out "we the people" still works, otherwise they, the elected will act in our best interest..!

The purpose of this blog is to help everyone become more informed as insurance buying consumers. It is my plan to post something new every couple weeks. Some of this will be very basic and some in more detail. The information will be based on Missouri but most will apply to Illinois as well. I entertain your questions on the blog and if you want to ask something in private you can email me.

This version was a requested topic...

Homeowners water damage - covered or not? 

Remember, I am an agent in Missouri and I am referring to policy contracts in Missouri even though others should be near the same but each state has specific contracts. I am also referring to the "Special Form" policy which is the typeof policy most of us would have but there are exceptions to that as well.  If you bought your policy or updated it in the last 10 years you "should" have the Special Form policy.   A water damage loss in your home is one of the most misunderstood coverage anyone has on their home policy.

First let me provide some very general concepts. Generally if the source of the water originates outside of the walls of your home, there is no intended coverage from your insurance policy unless you have purchased an endorsement on your home policy known as Sewer and Drain Coverage or a Flood policy if that is warranted. Also note most policies will not cover any water damage whereby the water enters your home due to a defect or poor workmanship of the home construction. 

Some examples;  

 Example #1

It rains and rains and snows and the ground is saturated with water around your home. You notice you have water in your basement and it is determined there is a crack in your basement wall and it is obvious that is the source of the water leak. There is no coverage for the water damage in my opinion no matter what type of policy or endorsement. It is not covered because the water came in through the defected basement wall.  

 Example #2

 The same exact thing occurs above except there is no crack in the wall and the water goes to the least path of resistance, a floor drain in your basement utility room. It is considered a water backup and "if" you purchase the Water Sewer and Drain coverage as an endorsement on your home policy, this should be a covered loss up to the limit of coverage you buy and your deductible applies.  

Example #3

 You come home to a basement full of water and you have no idea what happened and you find out there was a main line clog in your cities system and there is no issue at your home that caused the backup. There are four possible scenarios here. #1 -The city does the right thing and pays for all damages. #2 - The city decides it is not going to pay and you make a claim to your insurance and you did not buy the Sewer and Drain backup coverage, you are not covered. #3- You sue the city either in civil or small claims court depending on the amount of the damage and in my opinion if you prove the city is responsible for your damages, you win, if not you lose. #4 - You purchased the Water Sewer and Drain Backup coverage. Your insurance company will pay the claim up to the limit you purchased and your deductible will apply.

Example #4

You hear a loud noise in the basement and you find that the water heater has blown a water line and the basement is flooded. Your standard home policy would cover the water damage caused by the sudden direct loss. 

Example #5

You buy a house near a dry creek bed and after a heavy snowy winter and a spring filled rainy season, you come home to find your house has water surrounding it and there is water in your basement. No matter what type of home policy you have and no matter what type of endorsement you bought, the water damage is not covered by your home policy. You would have to own a "Flood" policy to have your loss covered. 

My recommendations -You should buy the Sewer and Drain coverage endorsement as this coverage and your Special Form home policy will provide you with the broadest coverage possible. If you live in an area where there is even a hint of flood water, you should find out if a Flood policy is warranted.    

The purpose of this blog is to help everyone become more informed as insurance buying consumers. It is my plan to post something new every couple weeks. Some of this will be very basic and some in more detail. The information will be based on Missouri but most will apply to Illinois as well. I entertain your questions on the blog and if you want to ask something in private you can email me.

Trailers - many people are confused when it comes to the coverage of trailers that are pulled behind a vehicle. The reason I think people are confused, is the coverage that is extended automatically vs. what is not automatic coverage. This is how it works;  

You do have extension of the liability coverage to any trailer that is pulled by your insured vehicle. If you are pulling your utility trailer with your insured vehicle and the trailer comes unhooked and hits another vehicle, then your liability coverage will pay for the damage to the other vehicle and any injuries it may cause up to the limit of coverage you buy. Of course you have to be at fault such as you may have forgot to latch the hitch. There is no coverage for the value of the trailer that was damaged unless you bought specific coverage for it.

So, there is automatic coverage extended for liability purposes but there is no automatic coverage to pay for the value of the trailer that is being pulled unless you purchase the specific coverage.  

The purpose of this blog is to help everyone become more informed as insurance buying consumers. It is my plan to post something new every couple weeks. Some of this will be very basic and some in more detail. The information will be based on Missouri but most will apply to Illinois as well. I entertain your questions on the blog and if you want to ask something in private you can email me.

Insurance did you know….2.0

The purpose of this blog is to help everyone become more informed as insurance buying consumers. It is my plan to post something new every couple weeks. Some of this will be very basic and some in more detail. The information will be based on Missouri but most will apply to Illinois as well. I entertain your questions on the blog and if you want to ask something in private you can email me.

Insurance did you know….

The purpose of this blog is to help everyone become more informed as insurance buying consumers. It is my plan to post something new every couple weeks. Some of this will be very basic and some in more detail. The information will be based on Missouri but most will apply to Illinois as well. I entertain your questions on the blog and if you want to ask something in private you can email me.

Many people shop for their insurance based on price alone because they don’t actually understand what their risk and exposure is or how to insure against it properly. The Property Damage section of your auto liability insurance is a good example. Many people purchase $25,000 in this category. The purpose of the coverage is to pay for any property damage you cause and are held legally liable for. A common claim example would look like this. You purchased the coverage as above, the $25,000 property damage limit of liability. You are driving down the road; you sneeze and cross over into the other lane. In the on coming lane is a 2007 Ford pickup valued at $35,000 that has to leave the road to keep from having a collision with you. It is determined you are liable for the accident therefore your policy would pay on your behalf but only up to the amount of coverage you purchased. You bought $25,000 of protection and you are liable for a $35,000 vehicle. Your insurance company would pay the $25,000 on your behalf and you would owe the other party the $10,000 balance out of your pocket. This would shock most people. Check your policy and call your agent.