Newsletter

Disaster Preparedness

Our thoughts and prayers continue to be with the people of Houston and most of Florida. Hurricane Harvey and Irma may have caused over 75 billion dollars of damage.  While this is fresh on our minds, let’s get prepared for the unexpected.   This could be a flood, hurricane, earthquake, wild fire, or any other event that causes damage to our homes.

Remember, your homeowners insurance may or may not cover the next disaster, so it is a good idea to have our team complete a personal insurance review.  Here are some things you can do right now.  Ready.gov has provided many good resources.

Basic Preparedness Tips

• Know where to go.  If you are ordered to evacuate, know the local evacuation route(s) to take and have a plan for where you can stay.  Contact your local emergency management agency for more information.
• Put together a “go-bag” or disaster supply kit should you need to evacuate, including a flashlight, batteries, cash, first aid supplies, medications, and copies of your critical information.
• If you are not in an area that is advised to evacuate and you decide to stay in your home, plan for adequate supplies in case you lose power and water for several days and you are not able to leave due to flooding or blocked roads.
• Make a family emergency communication plan and review it regularly with members.
• Many communities have text or email alerting systems for emergency notifications.  To find out what alerts are available in your area, search the Internet with your town, city, or county name and the word “alerts.”
• If there is a chance of flash flooding, move immediately to higher ground.
• If floodwaters rise around your car but the water is not moving, abandon the car and move to higher ground. Do not leave the car and enter moving water.
• Avoid camping or parking along streams, rivers, and creeks during heavy rainfall.  These areas can flood quickly and with little warning.
• Disconnect electrical appliances and do not touch electrical equipment if you are wet or standing in water.  You could be electrocuted.
• If instructed, turn off your gas and electricity at the main switch or valve.  This helps prevent fires and explosions.

More resources for you
www.ready.gov
Download FEMA App
 

The world recently experienced a spectacular total solar eclipse.  We were told the specific time it would happen and where the best places were to view the eclipse.  Did you stop to wonder who figured that out?  It was a complex process, and some very smart people from NASA determined the exact time of the eclipse and where the best places were to view it.  The mathematical calculations involved in developing that information are well above the skills of most people.  However, aren’t you glad there is someone who understands this so we can all enjoy and benefit from their detailed work?

If we were to compare the eclipse to insurance, the independent agent would be NASA, the sun and moon would be the insurance companies, and the public would be the policyholders.  Insurance is complex, and the professional agent manages the complex for the benefit of the insurance buyer.

Insurance is about a relationship involving three parties, the buyer, the independent agent, and the insurance company.  Here is how we see the needs of each party.

The Insurance Buyer.  Buyers of insurance want peace of mind and confidence that in the event of a loss everything will be ok.

The Insurance Company.  Insurance companies simply want to insure good risks and are transaction focused. Their decisions are financially focused, not relationship focused.

The Independent Agent.  Agents transform the complex so their clients can make educated decisions.  Helping the client to understand their risks and providing a number of reasonable solutions are the goals of the agent.

The person best suited to bring these parties together is the independent agent. The agent knows what risks the insurer desires and can educate the buyer in complex coverage design, safety, and claims management, in order to attract the best insurer option.  It is about building a trusted relationship that allows transparency between all parties. 
The Neate Dupey Insurance Group had its beginnings in 2010 with the establishment of AMD Insurance Services in Scottsdale, Arizona.

Since then, we have grown to become a boutique independent insurance broking and risk management firm, supported by a large panel of national carriers, with clientele throughout the United States.

We occupy the niche between the big national insurance agencies and the typical suburban or captive agency. This makes us the ideal insurance partner for those clients seeking a combination of personal service and technical expertise.

It is not very often that an insurance agent will say, “Don’t buy that insurance.” Well, we say it often! Remember, we are developing a conversation on a new way to serve our insurance clients. We will be the first to say that certain insurance may not always be best for your needs. We believe each client is unique and therefore requires unique insurance solutions.

Here are some examples of insurance products you most likely do not need to buy.

• Extended warranty plans - These are never a good idea. The warranty premiums are mostly commissions paid to the salesperson. Some credit card companies offer this protection if you make the purchase with their cards.
• Pet Insurance - Pet insurance usually is very limited in coverage and very costly.
• Collision insurance on older vehicles - If your vehicle has little or no value, it is better to pocket the premium and place it into a fund for future losses.
• Insurance on outstanding credit card balances - This type of insurance can be costly, and there are a lot of loopholes to go through before any benefit is paid.
• Mini Storage Insurance - As long as you have homeowner’s or renters insurance you don’t need to buy special insurance. Most policies have automatic coverage for property away from your primary premises. Call us for details and limitations.
• Rental car collision insurance - if you already have collision insurance from your personal auto insurance you don’t need to buy additional insurance from the rental company.  However, opting for the additional coverage could be worth the price if you don’t have collision insurance. But if you’re charging the rental to your credit card, it’s also possible to get the coverage through them.
• Mortgage life insurance - This protects the bank, not you. If you were to die, the payout goes to the bank, not your family. You are better off buying term life insurance.
• Flight Insurance - This is completely unnecessary, as airline accidents are rare and your life insurance policy should already provide the coverage in the event of a catastrophe.

Insurance is designed for the accidents and unexpected events in life that are too costly to pay on your own. Call us for more information.

Why Choose Neate Dupey?

* Strong personal client relationships based on a platform of high professional standards.

* A combination of size, technical expertise, agility and innovation.
* We allow our clients to make fully informed decisions based on independent advice.
* Superior client outcomes driven by a clear understanding of our clients' business and industry risks, matched to comprehensive and cost effective insurance solutions.

 

Owning a home is one of the most important investments you can make. As your family grows, your needs will change as well as your risk. We think it is very important to review your insurance program every year to make sure it still meets your needs.
Compared with investment decisions and estate planning issues, perhaps questions about the language in your homeowner’s policy may seem hardly worth considering. Yet the more successful you become, the more complicated your asset-protection needs are likely to be, and the more you have to lose.

1. Gaps in homeowner’s coverage.  Every homeowner needs to review their coverage regularly to keep up with rising replacement costs. But insuring different kinds of homes in different locales poses extra challenges. If you buy insurance from more than one carrier, you may face contrasting rules, limitations, and policy renewal dates.

2. Under insuring art and collectibles. Standard homeowner’s policies limit coverage for the losses of antiques, furs, and other valuables.  While you could schedule additional coverage, insuring the real value of a collection of contemporary art or vintage muscle cars, likely will require a specialized policy addressing several critical issues.
 
3. Make sure you keep up with the true replacement cost of your home. Often people let this go for a few years, but it can be devastating.  

4. Forgetting to insure household employees. When someone works for you or your family as a nanny, landscaper, personal assistant, or in another role, you could be liable for medical expenses and lost wages if the worker is hurt on the job.

At Neate Dupey Insurance Group we believe our greatest asset is the relationships we build with our clients and we are dedicated to being the right choice for all of your insurance and financial needs. We take pride in our ability to tailor a comprehensive package that maximizes your insurance protection while minimizing money out of your pocket.