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Amity Insurance Newsletter – Nov 6, 2012

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Featured Articles

Why You Need an Umbrella Policy?
Do you have enough liability insurance? If there were a vehicle accident for which you were at fault, and a child were permanently disabled, would your auto liability policy offer enough coverage to pay for the skilled care the child would need for years to come? If a young parent were killed in a freak fall on your property, would your insurance cover the support he would have provided his children as they grow up? We'd all like to believe that such catastrophic losses would happen only to other people. But there is nothing we can do to totally eliminate the risk of this type of event in our own lives. ..More>>

Benefits Of Pay-As-You-Drive Insurance
Usage-based insurance may also be called pay-as-you-drive insurance. It is based on a driver's vehicle, the distance driven, the time spent driving and the driver's behavior. When compared with traditional insurance, this type of coverage is much different. Traditional insurers attempt to reward the drivers they classify as safe, and their assessment is based on past documentation and the individual's record. The new method uses current behavior instead of past patterns. With the traditional method, drivers must wait longer to establish themselves as safe or reckless drivers. However, the new method does not require as much time for drivers' habits to catch up with them and affect their insurance rates...More>>

What Every Business Should Know About Workers' Comp Fraud
If employees are hurt on the job, workers' compensation coverage will protect them. This coverage pays for lost wages, medical bills and any other related expenses workers incur while recovering. Since the number of scams with this type of insurance are very small, it is safe to assume that the majority of employees are honest about getting hurt. Another incentive for this is the requirement that a doctor must provide an assessment. If an employee were not really hurt, a doctor may be able to identify a false claim. However, some scam artists slip through the cracks, and the damage they cause is substantial enough that it costs billions of dollars every year. In addition to this, some employers skip paying premiums. Both offenses are considered workers' comp fraud...More>>

How to Lower Your Commercial Auto Insurance Premiums
The top two factors affecting your commercial auto insurance premiums haven't changed. The primary drivers of commercial auto premiums are still very basic: Your history of claims, and the driving records of your individual drivers. It follows, then, that you can get a lot of value out of focusing your hiring on mature, experienced, responsible drivers...More>>