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Thomas/Pfeifer Insurance Agency, Inc. Newsletter Fall 2009 A NEW LOOK FOR THE COOKERY After suffering a devastating fire in May, 2008, The Cookery Restaurant reopened on June 4, 2009 with a new exterior and interior look! When it was determined that the building needed to be totally rebuilt, Dick & Carol Skare, along with their daughter Courtney Holdmann Skare, demonstrated their concern for our environment and utilized “green” construction & materials in the process. Reclaimed hardwood flooring (from Wisconsin barn beams), the use of recycled products (a host stand made from a product manufactured from recycled sunflower seeds), low VOC paint, and highly efficient equipment and HVAC system were used on the interior of the building. On the outside, sustainable products include local stone and fiberglass siding (made from sand), a more eco-friendly alternative to other building products. Throughout the building project, the Skares worked with SECURA Insurance to manage costs. While some of the “green” construction initiatives were more costly than traditional building methods, they found that, by prioritizing choices and making the building team aware of this factor, the contractors and sub-contractors often brought forth products and ideas that the Skares could not have found on their own. It was a combination of sustainable products and creativity that helped the new restaurant become a more environmentally friendly building within budget. In addition, the Skares made efforts to “green” interior operations and improve sustainability. Ongoing and new efforts include the use of local and organic ingredients throughout the menu, using recycled take-out containers, recycling as many products as possible including fryer oil, reducing water usage, and printing on recycled paper. While many changes have occurred at The Cookery, locals and visitors are happy that Carol was able to save her recipes from the fire. The restaurant continues to offer her time-tested favorites such as the whitefish chowder, dill potato salad, cherry chutney and cherry crisp! The Thomas/Pfeifer Agency and SECURA Insurance Company were glad to be of service for The Cookery Restaurant. We wish the Skare family and their employees the best of luck as they look forward to many more successful years in Fish Creek!
HOW DO NEW AUTO INSURANCE LAWS AFFECT YOU? As you may be aware, the most recent Wisconsin state budget included several changes to laws regarding auto insurance in the state. While each law may not affect your insurance policies, the changes as a whole have caused most companies to adjust their policies and in most cases, their rates. Here is a brief synopsis of some of the new laws, grouped by effective dates: November 1, 2009: Uninsured/Underinsured Motorist Limits have increased to a minimum of $100,000 per person and $300,000 per accident. Your auto policy is affected only if you had UM/UIM limits below these. Medical Payments have increased to $10,000 minimum but may be rejected now. Your policy is affected only if you had med pay limits below this. Stacking of Policy Limits allows consumers to access Uninsured/Underinsured Motorist & Medical payments coverage limits on the total amount of up to three insured vehicles, even if only one vehicle is involved in an accident. Umbrella/Excess Liability for Uninsured and Underinsured Motorists must be offered for the autos on your umbrella policy and must be rejected in writing. Most companies will automatically include this coverage and the additional premium cost to the umbrella unless rejection forms are signed. Previous Insurance – lack of previous insurance can no longer be used as a reason for charging higher rates. Hit and Run Coverage –no longer requires actual physical contact with another vehicle in order for it to apply to the Uninsured Motorist coverage. There must be third party verification of the existence of the other vehicle involved in the accident. (i.e.: you are run off the road by another vehicle and collide with a tree and other car leaves the scene.)
January 1, 2010: Minimum Liability Limits for Bodily Injury will increase to $50,000 per person and $100,000 per accident. Property Damage limits increase to $15,000. Your policy is affected only if you had limits below these. June 1, 2010: Mandatory Auto Insurance means that all drivers must have auto insurance that meets the minimum coverage as stated above. Contact us if you do not currently have auto insurance! Your renewal auto and umbrella policies will reflect these new insurance laws. We are happy to answer any questions you may have regarding these changes!
UMBRELLAS...MORE THAN JUST FOR RAINY DAYS Every day, newspapers run stories about lawsuits filed for every possible reason. These lawsuits range from those in which serious injuries occurred as a result of a tragic accident to suits that border on the ridiculous. With this in mind, the importance of purchasing a personal or commercial umbrella policy cannot be overstated. An umbrella policy can save an insured’s business and personal assets should a catastrophic suit be filed; however, not all policies are the same. A true umbrella “drops down” and provides coverage that can be considerably broader with important coverage additions for supplementary defense costs and personal injury. Because policies vary greatly, some are more restrictive than the coverage provided by the underlying policy and may have exclusions in policy language and definitions. Also, if you have an umbrella policy with a company independent of your primary carrier, you may be required to carry minimum limits and provide proof of underlying coverage to avoid gaps in the policies. The benefits of umbrella coverage include enhanced personal injury coverage with typical policy limits between $1 million and $5 million. The limits should be determined together with your agent, based on your personal net wealth or corporate assets and exposure to risks. You may be surprised at the amount of coverage available for a reasonable annual premium. Please call our office for more information on how an umbrella policy can “cover” you!
EPLI As a business owner, one of our agents may have asked if you are interested in purchasing “EPLI” coverage, which stands for Employment Practices Liability Insurance. You may wonder what this covers and if it is a necessity for every business. There are slight differences in policies related to the number of employees you have, but the general coverage is the same and usually provides a $100,000 limit. In general, EPLI covers small businesses from claims made for the following:
EPLI is available as a part of your commercial package if you are insured with West Bend Mutual, Auto-Owners or SECURA Insurance. With current economic conditions and layoffs causing increased employment-related claims, many businesses are considering this coverage. Please call our office if you would like more information about Employment Practices Liability Insurance.
STAFF CHANGES AT THOMAS/PFEIFER INSURANCE As many of you may know, Tricia Hoover is no longer working in our agency due to serious medical problems that arose in June. Tricia worked as an Agent and Customer Service Representative in our office for over 14 years and her personality and presence is missed. We wish her the best as she continues to recover and gain her strength back! In September, Pam Weigand joined the agency as our newest staff member. Pam lives in Sturgeon Bay and formerly worked as an Insurance Agent with the Baylake Insurance Agency. She will be handling the L-Z portion of personal lines insurance for our agency as well as other shared phone and office duties. Welcome, Pam!
ADDRESS, OWNERSHIP CHANGES CAN AFFECT YOUR POLICY Reminder for all Thomas/Pfeifer Insurance Customers: Whenever you have any changes to your mailing address, property address or any change to ownership (establishment of trusts, corporations, sales of property) PLEASE give us a call! We do not want you to have a “gap” in coverage due to missed mailings! We will notify your carrier of changes immediately so just contact us as soon as changes are made. Also, we are still collecting e-mail addresses for our customers…if this is a good way to contact you, please send your e-mail address to tpins@thomaspfeifer.com. (Works well if you leave the area in the winter!)
WOOD STOVE SAFETY As we approach another winter season, many of you may be “firing up” a wood burning stove as a source of supplemental heat. If you have an existing wood stove, it is a good idea to have the chimney and stove pipe checked and cleaned by a professional before the season begins. If you are a new wood stove owner, consider the following do’s and don’ts: DO – make sure there is enough clearance between the stove and combustibles including floors, walls and ceilings. Check with NFPA (National Fire Protection Association) standards and follow manufacturer’s installation instructions! DO – place the stove on a noncombustible, fire resistant base. DO – have a mason or other professional inspect the chimney. DO – burn only dry, well-seasoned wood. DO – consider opening a window a crack for ventilation. DO – dispose of ashes in a closed metal container outside the house and away from decks or siding. DON’T – extend the stove pipe through a wall or ceiling unless there is no possible alternative. DON’T – connect a wood stove to a fireplace chimney unless the fireplace has been sealed off. DON’T – connect a wood stove to a chimney serving another appliance burning other fuels. DON’T – start a stove fire with flammable fluids, such as gasoline. DON’T – burn trash in a stove; doing so can start a chimney fire. DON’T – let a wood fire burn unattended or overnight. And finally, please call us for wood burning stove guidelines that may be required by your specific insurance carrier. Have a safe heating season! Source: Insurance Information Institute
DID YOU KNOW.... that a late payment on your insurance policy may prompt a service fee? Some companies are now charging service fees for as little as one or two late days since the “pending cancel” status causes required legal notification of mortgagees, additional insureds and loss payees listed on your policy. When payment is received, the insurance company then is required to notify all parties involved again. This causes a lot of paperwork and extra expense, so companies are recouping costs with late fees. On a positive note, most companies have added online payment options on their websites, which allows for your premium to be credited immediately. Please contact our office for further information.
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