Blog

Take Advantage of Multiple Policy Discounts

GCW Agency — Tue, 28 Aug 2012 19:27:13 +0000

You can save a ton of cash by combining your Home, Auto, Life and Umbrella policies with one Company.

Let us help you start saving on your personal insurance today!

Michigan's Catastrophic Claims Auto (MCCA) Charges

GCW Agency — Tue, 28 Aug 2012 15:49:09 +0000

A crisis is brewing if the cost side of providing Michigan benefit is not addressed soon. In the last decade the MCCA payments for catastrophic claims have gone from $300 million per year to well over $900 million per year. Another 10 years of not addressing the cost drivers and the MCCA assessment alone may well be over $600 per vehicle. As of July 1st the charge was increased to $175 per vehicle. While the cost of living in general has risen 25% in the last 10 years, the cost of hospital services has increased 79%. Senate members to consider cost constraints in any reform package. MAIA's position of a single limit on PIP benefits of at least $1 million, instead of the current plan of unlimited benefits is under consideration.

Key Provisions Scheduled in the Future for the Affordable Health Care Act

GCW Agency — Mon, 27 Aug 2012 19:18:56 +0000

How the law will affect you, your family and or your employer.

1. In 2013, Increased Medicare Tax. Raises the Medicare Part A on wages by 0.9% percent on earnings over $200,000 for individual taxpayers and $250,000 for married couples filing jointly. there would also be a 3.8% assessment on unearned income for these high-income taxpayers.

2. In 2013, Contributions to a Flexible Spending Account (FSA) for medical expenses will be Reduced or limited to $2,500 per year.

3. In 2014, a Qualified Health Care Plan will required to be carried by all US citizens and legal residents. There would be a phased-in TAX penalty for those without coverage, starting at the greater of $95 annually or 1% of gross income, in 2014 and rising to the greater of $695 annually or 2.5% of gross income in 2016.

4. In 2014, potential penalties on employers with 50 or more full-time workers that do not provide a QHP to its employees. The penalty would equal $2,000 per worker, although the first 30 workers would not be counted.

The Affordable Health Care Act Update and Supreme Court's Impact

GCW Agency — Mon, 27 Aug 2012 18:46:16 +0000

On June 28th , 2012 the US Supreme Court ruled the Affordable Care Act (ACA) as constitutional and it will be implemented as written - unless there is future legislative action taken after the November 2012 elections that changes or rescinds the law.

How will the law affect you, your family or your employer?

Noteworthy Provisions Already Implemented.

1. Pre-Existing Conditions. All group and individual health plans now have to cover pre-exisiting conditions for children up to the age of 19. Starting in 2014, insurance companies cannot deny coverage to anyone with a pre-exisiting condition.

2. Dependent Coverage to Age 26. All plans will now have to cover dependents up to age 26. This includes adult children that no longer attend college, those not living with their parents, and even those adult children who are married.

Helpful Hints When Reporting an Auto Claim..........

GCW Agency — Thu, 26 Jan 2012 19:49:52 +0000

When you are involved in an Auto Accident, it's important to report the claim to your Agent or your Insurance Company as soon as possible. One way to expediate your claim, is to have the following information ready when you report the claim: 1) Date and Time of the Accident 2) Location of the Accident 3) Exactly How the Accident Occured 4) Any Injuries to Anyone Involved in the Accident 5) Police Report Number 6) Vehicle you were driving 7) Describe Damage to Vehicle

Hopefully, you won't have an accident to report, but if you do, I promise the information above will help to make your claim experience faster and less stressful for you. DRIVE CAREFULLY!!!!!!!

Old Insurance Agents Don't Retire, They Just Expire...

GCW Agency — Fri, 13 May 2011 20:05:47 +0000

However, the rest of us will, more than likely, retire one day, and one of the facts of life is, as we age, illness may strike. If this illness is chronic and as a result we are unable to perform the necessary actvities of daily life, without help, we would need to make arrangements to reside an a nursing home facility. Since Medicare does not provide coverage for long term care, you can deplete your financial assets rapidly. A Harvard study determined 69% of single people and 34% of married people would exhaust their assets after only 13 weeks in a nursing home.(longtermcarewiz.com).

A Long Term Care Policy can be a wise solution to the above problem, in exchange for your premiums, you are able to transfer some of your financial risk to an insurance company. Accordingly, you would be able to protect your financial assets, avoid Medicaid/Welfare as your only option, and most importantly not become a burden to your family. In a sense, this policy allows you to purchase"peace of mind," and that in itself, makes it worth the price!

Product Over Price

GCW Agency — Wed, 11 May 2011 16:27:20 +0000

"You Get What You Pay For," is an old adage that proves true in most cases, even when it comes to purchasing your insurance policies. You wouldn't go into Macy's to buy a winter coat and buy a sweater instead, simply because it was cheaper, why, because it wouldn't provide you with the coverage you need when those winter winds begin to blow! You wouldn't purchase a vehicle and tell the salesman to forget the "spare tire,"why because there is a chance you may need that spare if you get a flat tire!

However, many of us purchase our insurance based on price rather than product, in a sense the sweater, rather than the coat, the car without the spare tire. Remember, you purchase insurance to protect yourself and your family, from an unexpected event that brings overwhelming expenses into your life.

Let us protect the things that are most valuable to you!

April Showers Bring May Flowers

GCW Agency — Mon, 11 Apr 2011 18:11:29 +0000

We all love the fact that, “April Showers, Bring May Flowers”, unfortunately,

they may also cause water to back up, through sewers, drains or sump pumps,

which can cause thousands of dollars of damage to your home and contents.

Most insurance carriers offer an inexpensive endorsement you can add to your

homeowner’s policy which will provide coverage for water damage and clean-up

for water that back-ups into your home through sewers, drains or sump-pumps.

Let us make sure you have the correct coverage in place!

Wintry Mix May Cause Power Outage

GCW Agency — Thu, 03 Feb 2011 20:51:37 +0000

Winter is a season of snow, ice, frigid temperatures and high winds. While these conditions can create a fun-filled wintry wonderland, they can also create a multitude of problems for businesses and property owners.

Power failures caused by line outages or blown transformers are not always covered by a standard commercial property insurance policy. Coverage for this type of loss typically requires an endorsement on your business insurance policy. Lost business due to inclement weather may also require special wording under the business income coverage section of your policy.

Let us make sure you have the correct coverage in place!

Keep your home from getting "Washed Away"

GCW Agency — Wed, 26 Jan 2011 18:53:05 +0000

Have you ever suffered a water damage loss in your home? It’s no fun, no fun at all! We recently read about a nifty little device called a water alarm. For a minimal cost, these alarms can help alert you of any unusual moisture in your home before widespread damage has a chance to occur. Of course, as with any product there are several different models and features available depending both on your needs and budget.

While purchasing home insurance, it’s important to inquire about backup of sewers, drains and sump pump overflow coverage. Most insurance companies offer optional limits for this type of coverage to help you tailor your policy to meet your specific needs. Those of you with a finished basement may benefit from higher limits to help adequately cover your cozily converted space. But, keep in mind, that water damage is not always limited to just basements. A broken sewer line leading to your home could cause toilets on any floor in your home to overflow, which could quickly result in heavy water damage.

The number one home insurance claim in Michigan is water damage. In 2002, water damage claims accounted for 28% of all claims paid. In 2006 the percentage increased to 45%. Each insurance policy is different. If you’re not sure about your coverage or would like more information about what types of water damage claims may or may not be covered under your policy, contact your insurance agent.

For additional tips on how to identify and protect your home from water damage, please visit the following link: http://bit.ly/fRUMqn