Are you one of the people who think you don’t need life insurance? Please think again. Life insurance provides real security for those you care about. Life benefits can provide financial security and resources for your family or loved ones after you are gone. Let’s look at a few of the reasons to consider life insurance:

1. Payment on Debt- if you have any outstanding debt (like a mortgage) at the time of your death, it does not go away. Your estate will still be responsible to settle all accounts. Life insurance can give your family the peace of mind to know that they can still pay the mortgage if the unthinkable happens.
2. Continuation of Income- Life insurance can provide the funds to replace your income upon your passing. Family income will certainly diminish and there’s a very good chance that your family will experience a lower standard of living.
3. Unpaid Medical Expenses- It is highly likely that you will have medical expenses prior to your death. Some of which may not be covered by health insurance. Adequate life insurance proceeds ensure that these final expenses can be paid.
4. Funeral Expenses- Most people don’t plan for or fund the funeral expenses; again life insurance is there to help.

The good news is that life insurance rates are low and there are many different kinds of products from which to select. One question we often get is, “How much life insurance do I need”? That really depends on your individual situation, but here is a general guideline–We think you need to consider a life insurance limit of at least 10 times your annual gross income. For example if you earn $50,000 per year, your family would need to replace somewhere close to that amount. A $500,000 life policy could return $45,000 to $50,000 in annual interest depending on the rates.

Selecting the right insurance company is very important. Let Innovative Insurance help you with selecting the right plan and insurer. Innovative Insurance can provide competitive premiums for you today.

If you own a Recreational vehicle, motorcycle or other toys, insurance coverage should be part of your thinking. Remember, they are not automatically covered under your current insurance program.

Many State laws require you to maintain liability coverage on your vehicle. Here is a schedule of insurance coverage you might consider:

Liability Insurance

Liability coverage, also known as “property damage/bodily injury”, can help cover expenses from damaging a vehicle or injuring a person in an accident. 

Collision coverage

Collision coverage helps pay for damage to your vehicle if you hit another vehicle, another vehicle hits you, or your vehicle rolls over. Collision coverage can be required if your vehicle is financed or leased.

Comprehensive coverage

Comprehensive insurance helps pay for damage to your vehicle not caused by collision. Examples include damage or loss due to theft, vandalism, falling objects, fire, storms, and flood.

Uninsured or underinsured coverage

This coverage helps pay for repairs if your RV is damaged in an accident by an underinsured, uninsured, or unidentified driver. It also helps pay medical costs.

Medical payments coverage

Medical payments coverage helps pay medical costs for you and your passengers in the event of an accident, regardless of who is at fault.

Rental reimbursement coverage

This coverage helps pay for your rental car or other transportation if the RV cannot be driven due to an at-fault accident or comprehensive claim. This is really important especially if you are out of town.

Towing and labor coverage

Towing and labor coverage reimburses you for towing charges if an insured vehicle is disabled. It also covers on-site assistance, such as battery jump-start, tire change, and locksmith services. We recommend this on all recreation vehicles. Contact us today for more information. Innovative Insurance offers competitive pricing for all your RV, Boat, and Motorcycle needs.

Innovative Insurance Services is an independent agency. This means we don’t work for any one specific insurance company. We have access to many markets, giving us the ability to shop your account and search the market for the best option for you. With captive insurance agents, like the big national companies, you only get the guidance of one company that sells one brand of insurance. With an independent insurance agent, like Innovative Insurance Services, we have access to over 20 insurance companies that allows us to tailor an insurance package that fits your needs and your budget. There are a number of benefits to working with us:

• We will work with you to make sure your claim is processed to your satisfaction
• We provide a number of coverage options
• We are not obligated to any one company
• We search the market for the best combination of price and coverage
• We are committed to exceeding your expectations
• We are licensed professionals with strong customer and community ties
• Innovative Insurance Services is your one stop shop; we offer a complete line of insurance products
• Our staff is qualified and trained to explain coverage in understandable language
• We can review coverage and make necessary changes based on your needs

When you work with us, we will give you unbiased advice.  As an independent insurance agent we are very knowledgeable about all the companies in the marketplace. We know which companies have the best track record when it comes to pleasing their policy holders. We can narrow your options down and help you choose between the best insurance companies in the market. Not all insurance agents are the same! Choosing the right one can make a big difference – in price, service, and value. Our agency has a proven track record, we live here and we understand the needs of our neighbors.

Is there anything worse than planning and preparing for your wedding or special event only to have it canceled at the last minute due to weather, or some other unforeseen reason? Weddings are important and you want your event to go off without any issues. Wedding Insurance helps protect your special day and the planning days leading up to it.

Wedding Insurance can help if you face a cancellation or postponement due to an unforeseen event such as illness, inclement weather or military deployment. Wedding Insurance will provide reimbursement for deposits forfeited and other charges paid or contracted to be paid by the insured. This can include transporting costs, catering services, property and equipment rentals, location rentals, accommodations (including travel arrangements and accommodations for a honeymoon if applicable), special equipment, flowers, event photographs, videos and/or entertainment expenses.

Examples of Event Cancellation Claims:

• Heavy fog or rain at outside wedding
• Heavy winds for outside event
• Flooding of local roads prevent access to venue
• Convention center or church destroyed by fire
• Construction at venue
• Death or injury to someone in wedding party

For the bride and groom: as you celebrate the beginning of your lives together, Wedding Insurance can help protect your financial future if something beyond your control should go wrong.

For the parents of the bride or groom: an investment in your child’s wedding is an investment in their happiness. You want to protect their dreams of a perfect wedding – and your own financial security. If the unforeseen occurs, Wedding Insurance is there.

Ah, travel is bliss– at least we’d like to think so! We want our vacations to be perfect. Ticket mishaps, delays and schedule changes are all problems none of us like to experience. Innovative Insurance wants you to have a great vacation and return home safe. Whether you are planning a trip across the state or across the world, we have some tips to keep you safe:

• Create an itinerary and give it to a family member or close friend.
• Make color copies of your key identification and keep them in a separate case.
• Put all emergency numbers in everyone’s cell phone.
• Don’t carry a lot of cash.
• Advise your credit card companies of your travel. They will see purchases outside your normal area and may place a hold on the cards.
• To avoid problems when passing through security keep medicines in their original, labeled containers.
• Put your name, address and telephone numbers outside (and inside) each piece of luggage.
• You don’t need all your credit cards and identifications; leave those you will not use at home.
• Never wear anything that projects affluence. (i.e. gold chains, expensive watches, rings, luggage, or other paraphernalia). It is best to leave your expensive jewelry at home.
• Do not wear name tags in public.
• At the hotel discuss basic emergency procedures with your children. (ie. what to do in case of a fire).
• Park only in well-lit and well-traveled areas.
• Let your neighbors know your plans.
• If your plans include travel out of the country check your health insurance plan?, as there may be some limitations.
• Purchase timers for lights in your home and place them in two or three rooms.

Innovative Insurance offers travel medical insurance if you are traveling out of the country through International Medical Group. Remember some health insurance plans will not provide coverage while you are out of the U.S. Enjoy your vacation and be safe!

Winter weather changes almost daily. Winter road conditions can create serious concerns and worries. Innovative Insurance wants you to be safe. There are a few things you can do to prepare yourself for winter driving.

1. Know the road conditions before you travel. The Web can be great source of current weather information. Make a list of Department of Transportation road-condition hotlines and consult them every few hours while you’re on the road.
2. Never warm up a vehicle in an enclosed area, such as a garage.
3. Use all-weather or studded tires.
4. Use your seat belt every time you get into your vehicle.
5. Make certain your tires are properly inflated.
6. Keep your gas tank at least half full to avoid gas line freeze-up.
7. Keep an emergency kit in your trunk.
8. Drive below the speed limit in hazardous conditions.
9. Winterize your car with fresh antifreeze, a good battery, operating exhaust system and oil that will withstand the rigors of cold weather.
10. If possible, avoid driving until the roads are safe and passable. You don’t want to slide off the road, and we don’t want to plow around disabled vehicles.
11. Do a thorough pre-trip inspection of your vehicle paying special attention to your tires, brakes, windshield wipers and windshield wiper fluid.
12. Allow extra room between vehicles.
13. Brake early, brake slowly, brake correctly and never slam on the brakes.
14. Let someone know where you’ll be going and when you expect to arrive or return. Tell them to call authorities for help if you don’t get back or check in within an hour of your estimate.

Keeping up with car maintenance year-round is important, but it carries added significance in the winter when being stranded. As always, try to time your routine maintenance ahead of long-distance travel. Putting off service today can turn into an expensive problem down the road.

Getting pulled over by a police officer can be a stressful and uncomfortable experience, especially if you have never been pulled over before. The primary reason for being pulled over is for your safety and the safety of others. There are a few things you can do to help the process go smoothly for you, the officer, and your passengers:

1. If you see police vehicle lights in your mirror, slow down and pull over to the side of the road as soon as possible. Make sure you are far enough off the road for the officer to safely walk next to your car.
2. Stay calm. Turn off your engine and radio. Keep your seat belt fastened and have your driver’s license and insurance information out and ready. Stay off your cell phone!
3. At night, turn on your inside light to allow the officer to view the inside of your vehicle; doing this allows the officer to be assured that there is no danger to him or her.
4. Do not argue with the officer.
5. Do not get out of the car, unless requested to do so by the officer.
6. If you have any passengers in your vehicle, request that they remain silent at all times with their hands in plain sight.
7. Don’t make any admissions; if the officer asks if you know why you were pulled over say no. Another question they may use to trap you is by asking, “Do you know how fast you were going?” A simple reply is best such as; “I am always a safe driver and believe that I was going with the flow of traffic.”
8. What if the officer wants to search your vehicle? The United States Constitution protects all individuals from unreasonable search and seizure. The exceptions to this are if you agree to a search, or if the officer believes there is illegal activity going on.

Always cooperate with the officer and remember they are doing their job to protect you and others.

All of your debts, payments, credit card accounts and other financial history are distilled down into one number, your FICO credit score. All of the credit agencies calculate a score between 300 (extremely poor creditworthiness) and 850 (perfect credit). The average score is roughly 710. Your credit score may be used to determine the approval or denial of car loans, mortgages and other major credit purchases, as well as the interest rates available to you. Many individuals do not know their score or how it is calculated. Understanding what a credit score is made of will help you improve your score.

•The highest percentage, 35%, of your score is determined by payment history. Missing payments or frequently paying bills late will drastically lower your score. The good news is, FICO favors recent activity, so you can improve your score by making timely payments or working out payments plans that suit your budget.
•30% of the FICO score is based on how much money you owe versus how much credit is available to you. Someone close to maxing out his or her credit cards is seen as a higher risk of default.
•15% of your credit score is based on the length of your credit history. The longer your credit history the better.
•The type of credit you use determines 10% of the FICO score. Having many different types of credit, including mortgages, credit cards, car loans, revolving and installment credit, will generate a higher score.
•10% of your FICO score includes searches for credit. Applying for many different types of credit over a short period of time can lower your score. Rate shopping for one specific type of loan should not have much impact on your score.

If you need any assistance dealing with inaccurate information on your credit report or have questions, call us at 952-445-5767.

[The content of this newsletter is intended for general information purposes only, and is not legal advice. Readers should be aware that while certain principles outlined on this site may be similar to principles followed in their own state or province, laws can vary considerably. © Copyright 2012 Pre-Paid Legal Services, Inc. d/b/a LegalShield℠ One Pre-Paid Way, Ada, Oklahoma 74820 www.mylegalshield.com]

A critical issue for boat and RV owners is proper winterization prior to storage. If done properly, it can save you a lot of money in the long run. Taking protective measures now will assure that your boat and RV will be ready to get back on the water or the road. There is nothing worse than moving your boat or RV out of storage and having a problem just as you are ready to use it.

Innovative Insurance Services recommends you maintain insurance year round on your RV and boat. Damage such as water damage, roof collapse and other weather related issues, can occur to your boat or RV while in storage.

Tips:
• Check owner’s manual for any unique issues
• Fill gas tank and add a stabilizer to help reduce condensation
• Change oil and filter
• Inspect and repair all electrical wiring and connections that may have been damaged
• Clean out the refrigerator
• Use a coupler lock on trailers and lock all compartments and entry doors
• Remove anything that retains water
• Remove your keys, update your contact information at the storage facility, and have someone check on your vehicle periodically
• Boats- Pressure wash hull, remove drain plug so rain water can escape, add antifreeze to the engine’s cooling system, cover boat with a high quality breathable cover, and place the trailer on stands or blocks so the wheels are supported off the ground. Be sure to raise the bow higher than the stern to promote draining of rainwater or snow.
• RV- Drain and Flush all holding tanks of fresh, gray, black, and hot water, place antifreeze in water lines. Check with owner’s manual for the recommended antifreeze, close all windows and blinds to protect from sun damage unplug all appliances and turn off main breaker. Cover tires to prevent damage from UV rays.

Being the victim of a carjacking is not something you think about, and the probability of this happening is low. However, carjacking is a violent crime that is on the increase in the US, and there are thousands of carjacking’s every year. Carjacking is a crime of opportunity- a thief will look for the easiest opportunity- so the best defense of being victimized is to reduce the opportunity. Carjacking usually takes place in the following locations and situations: parking lots, intersections, self-service gas stations, garages, and ATMs.

Here are a few prevention tips:
1. Be aware of who is around you
2. When returning home close your garage door before getting out of the car
3. Keep car doors locked
4. Always park in public place
5. When stopped in traffic, leave enough room to maneuver around other cars
6. Drive in the center lane if possible to avoid being pushed onto the shoulder
7. Keep valuables out of site
8. Above all, don’t resist an armed suspect. Your car isn’t worth risking personal injury

If you are a victim of a carjacking, don’t worry, it is covered under most personal auto insurance policies. If you are not a client of Innovative Insurance Services, let us complete a review of your coverage. Innovative Insurance Services offers competitively priced personal auto insurance for all your needs. Call us today and let us save you money on your car, home and recreation vehicles.