Author: AHI Group

Honesty is the best policy: Being upfront about your renting habits

Posted on by AHI Group

As of 2022, there were nearly 44 million housing units that were occupied by renters in the United States. This number has steadily increased for a number of reasons, the main of which being the ever-rising cost of living. For many Americans, renting can be a more affordable alternative to home ownership.

At the same time, many homeowners have found themselves in a sticky situation when it comes to rising mortgage rates and general life expenses, and to combat their seemingly endless expenses have turned to renting out a portion or floor of their home. Careful – if your agent doesn’t know about your renting habits, they should. Here’s why.

Standard home insurance is limited when it comes to renting

Home insurance is designed to cover the home, its foundation, four walls, basement, roof, etc., as well as your personal liability (your legal expenses if anyone decides to sue you for injuries or damages to their property), your belongings, and even necessary living expenses if you had to live elsewhere for a time while your home was being repaired or restored.

But home insurance is designed to cover you and other household members, not guests or unrelated (and even related!) individuals renting out a room or floor in your home. It gets especially complicated when you’re renting out parts of your home in exchange for rent payments, which changes the occupancy of your home from simply being your dwelling to now being a commercial operation.

In short, the majority of home insurance companies will not cover homes if they are also being rented out. Some home insurance companies will, under the condition that the homeowner purchases a rental endorsement. Other companies won’t want to stay “on risk” at all, and you’ll need to go elsewhere to find the coverage you need.

Why you need to be honest about your renting habits

Being upfront about all your information, including the primary occupancy of your home, is crucial. Failing to disclose your renting habits to your insurance company borders the line of insurance fraud and can easily land you in hot water if you’re found out. At best, any claims you make will be denied. At worst, your policy could be cancelled, and you’ll later have a much harder time finding coverage.

Speaking strictly from a protection POV, not being honest about your renting habits may mean you won’t acquire the protection you need to cover your rental activities. This includes, but isn’t limited to, any liability associated with your rental habits, any damages your tenant accidentally does to your property, and any fair rental income you’re entitled to that you can’t receive as a result of an insured loss.

Will my rental activities increase my home insurance costs?

Yes, and this is often why homeowners hesitate to inform their insurance company. Adding an endorsement to cover your rental habits or even purchasing landlord insurance can cost more, but you’re likely better off disclosing your activities to your insurance company and paying the slightly increased cost than you are lying about your rental. If you’re found out, or even cancelled, your insurance costs could increase dramatically the next time you go to find coverage, and could end up costing you hundreds more dollars than you’d pay had you simply been honest about your renting habits.

Do you need to have landlord insurance?

If you rent out a part of your home, such as a bedroom or a basement, then no – not usually. Usually what will happen is your home insurance company will have you purchase a rental endorsement, which increases your protection to include landlord liability, dwelling coverage against tenant accidents, and fair income rental coverage.

If you had a second property that you didn’t occupy, such as a condo, you would need to purchase a landlord policy. You would never insure a property twice, i.e., you would never insure a property with both landlord and home insurance. Your primary home with a rental unit (bedroom or floor) can be insured with a home policy but all your rental activities may be covered under an endorsement included in your primary policy.

Do I still need insurance if I rent out my home through Airbnb?

Yes. In fact, many insurance companies will view hosting platforms, like Airbnb, as even riskier than longer-term rentals. Many insurance companies will offer short-term rental insurance as an endorsement, which you can add to your home insurance policy, or you can purchase a standalone policy for a home that is primarily used as an Airbnb property.

Note: many home-sharing platforms will offer their own insurance, which is free, but may be limited. It’s usually recommended that you purchase short-term rental insurance for more comprehensive coverage. Even if you have Airbnb-provided insurance, you’ll still need to loop your insurer in on your rental habits.

Confused?

If you are renting out a part of your home, considering doing so, or are confused about anything we’ve discussed in this article, reach out! Our agents are happy to discuss your home insurance with you and review your policy to ensure you have all the coverage you need.

What is insurance fraud and why should I care?

Posted on by AHI Group

The total cost of insurance fraud in the United States is estimated to exceed $40 billion a year. You might think, “well, that’s a big number, but why should I care?” While you might not know it, unfortunately, insurance fraud impacts everyone, not just the insurance companies. They do the crime, and we all end up paying for it. Data from the FBI suggests that insurance fraud costs the average U.S. family between $400 and $700 in premiums to compensate for losses from fraud.

What is insurance fraud, and how do you recognize it when it’s happening?

Defining insurance fraud

In short, insurance fraud is the intentional misleading or activities that take advantage of an insurer’s agreement to pay claims. This can take many forms, but insurance fraud is always usually divided into two main categories: opportunistic and premeditated fraud. The former occurs when a policyholder takes advantage of an existing claim to exaggerate or mislead in order to receive a higher claim payout whereas the latter is intentional, organized crime that can oftentimes have very real consequences that go beyond the financial losses, including but not limited to severe body injury.

Examples of opportunistic fraud might include:

  • You get into an accident with another vehicle. Your vehicle has minor damages, but you file a claim for damages to your car that predated the event in order to receive a higher payout.
  • After a claim, you exaggerate the extent of your injuries and/or medical treatment needed.

Examples of premeditated fraud might include:

  • Staged collisions, where the other driver is either participating or unsuspecting.
  • Jump ins, where someone later files an injury claim against the unsuspecting driver despite not having been inside any vehicle involved in the collision.
  • Misrepresentation or misinformation regarding one’s primary address, driving habits, etc., to receive lower insurance premiums.

Fraud is fraud, whether it’s premeditated or opportunistic. Both have the potential to greatly impact other policyholders and insurance fraud is a felony that can be punishable with jail time in many states.

What are some common insurance fraud scams?

Here are some examples of common insurance fraud scams that take place in the United States. These fraud scams exist throughout all types of insurance, but are most common with auto.

  • Fake theft claims: Policyholders falsely report items stolen from their homes or vehicles to receive reimbursement from their insurance providers. In some cases, the items claimed as stolen never existed or were intentionally disposed of.
  • Exaggerated claims: We discussed opportunistic fraud in the point above; exaggerated claims are really the most common example of this. Policyholders inflate the extent of damage or injuries suffered in a genuine accident to receive higher payouts from their insurance companies.
  • Property arson: When premeditated fraud goes to the extreme, real damages and potential issues can arise. Property owners intentionally set fire to their homes or businesses to collect insurance money for the damages. Sometimes, they may even destroy valuable possessions before claiming the loss. This can cause damage to neighboring property unintentionally.
  • Worker’s compensation fraud: Both employees and employers may engage in fraudulent activities related to workers’ compensation claims, such as exaggerating injuries or underreporting payroll to reduce premiums.

This is only a few examples of different types of insurance fraud scenarios that take place. Identifying insurance fraud can be difficult, although many insurance companies have fraud detection systems in place intended to mitigate losses and preserve their integrity.

Unfortunately, the same can’t be said for policyholders. It’s hard to detect fraud. With a particular fraud scheme, “staged collisions”, you can end up becoming an unwitting participant in a scam, whether you were aware or not. We recommend familiarizing yourself with the different types of staged collisions that exist to keep yourself and your household safer on the roads.

How does insurance fraud impact me?

While insurance fraud may seem like a victimless crime and just “a few extra dollars” received from an insurance company, it’s more than that. Those extra dollars can amount to hundreds, thousands, and beyond over time and with thousands of criminals participating. The financial implications don’t just impact the insurance industry, but policyholders as a whole.

See, it boils down to the way insurance companies pay claims. Insurance companies use premium payments for a variety of things, including funding their operations, and revenue. Still, most of what premiums are used for is to contribute to a “pool” of funds, which are then later used to make payouts when claims are filed. All insurance companies are typically required to maintain a certain “safety fund” to ensure claims can be paid out in the event of an unexpected disaster in a single geographic region (a huge storm, wildfire, etc.)

When fraud is committed, claim payouts go up, and that pool is diminished. In order to ensure claims can continue to be paid out, insurance companies must raise rates for every policyholder across the board, which can make it seem like your insurance costs have gone up for “no reason.” That’s the unfortunate consequence of insurance fraud. While you may always be honest and upfront with your insurance agent and company, others may be abusing their policies for personal gain – and you end up paying for it.

Stay vigilant. If you have any questions about insurance fraud or its impacts, or are concerned about rising insurance premiums, please give us a call.

Here’s how to get rewarded for good driving behavior

Posted on by AHI Group

You’ve been driving for 2, 5, 10, or even 20 years without much issue (apart from maybe the odd fender bender or not-at-fault incident here and there), but you’ve noticed your auto insurance rates have increased. What gives? You’ve been a good driver, so why should you be paying the price?

Auto insurance rates increase for any number of reasons, and sometimes those reasons are out of our control – like owning a high-theft vehicle. Luckily, you can leverage your good driving behavior and even qualify for discounts on your insurance. Here’s how:

What is usage-based auto insurance?

Imagine this: your auto insurance prices are tailor-made based on how you drive, rather than being out of your control due to factors you cannot control, such as your location or age. This is essentially the description for usage-based auto insurance, an offering that many insurance companies are now making available to their policyholders in order to allow more control over their rates.

Usage-based auto insurance, also known as telematics insurance, is named because it uses a device—a telematics device—to track a user’s driving behavior. A user will either need to download a mobile application or install a device in their car that records certain aspects of their driving behavior, such as the following:

  • Braking time
  • Acceleration rate
  • Speed
  • How far you drive
  • How long you drive for
  • Idling time
  • Etc.

For good drivers (hopefully such as yourself) it means that if you consistently demonstrate safe driving behaviors, such as avoiding sudden stops, obeying speed limits, and driving during less risky times of the day, you can be rewarded with lower premiums. Depending on the insurance company, discounts can vary – but they can sometimes be up to 30%!

Why participate in usage-based driving?

There are several benefits to participating in usage-based driving.

For one, it offers fair pricing. Traditional auto insurance often relies on demographic factors like age and location to determine premiums. With usage-based insurance, your risk is assessed based on individual driving behavior. This means that safe drivers are rewarded with lower premiums, ensuring that you pay a fair price based on your actual driving habits rather than generalized statistics.

The better your driving, the stronger your potential is for savings. By consistently demonstrating safe driving habits such as obeying speed limits, avoiding sudden stops, and driving during less risky times, you can qualify for discounts and lower rates.

And, if you’re a semi-decent driver who is looking to be even better and increase your good driving habits, telematics can incentivize safe driving practices. Knowing that your driving behavior directly influences your insurance costs can be a powerful incentive to drive more responsibly. Usage-based insurance encourages safer driving habits, such as avoiding distractions, following traffic laws, and maintaining a safe distance from other vehicles.

Finally, usage-based driving can also offer you direct feedback and insights into your driving behavior. By reviewing this information, you can identify areas for improvement and become an even safer driver. This feedback loop promotes continuous learning and helps you maintain good driving habits over time.

In short, here are some reasons to opt into usage-based auto insurance:

  • Receive fair pricing based on actual risk
  • Get access to additional benefits and rewards for good driving practices
  • Enjoy transparency in insurance pricing based on real-time data
  • Flexibility to adjust driving habits to lower insurance costs
  • Receive feedback and insights to improve driving skills
  • Have the potential for lower premiums based on individual driving behavior

Are you a good candidate for usage-based auto insurance?

Participation in usage-based auto insurance is ideal for drivers who prioritize safe and responsible driving habits. If you’re a cautious and conscientious driver who obeys traffic laws and has an overall decent safe driving record, then it can be hugely beneficial for you. Here are some examples of individuals who would be good candidates for usage-based auto insurance:

  • Experienced drivers
  • Defensive drivers
  • Low-mileage drivers
  • Eco-conscious drivers
  • Seniors with safe driving practices
  • Teens with responsible habits
  • Drivers looking to hold themselves accountable

If you’re seeing high rates due to a recent at-fault accident or have been labelled high-risk, but you’re otherwise a good driver, usage-based auto insurance can help combat the inflation in your rates.

Get rewarded for good driving with AHI Group

Want to be rewarded for good driving behavior? Contact AHI Insurance. Our agents would be happy to discuss your insurance needs with you and assess whether usage-based driving is the right choice for you. Insurance is unique, and no one’s needs are exactly the same. This is why it helps to have an agent in your corner who can help you make the tough decisions and find you the best auto insurance protection for the best price. Give us a call today.

What does high risk mean in insurance?

Posted on by AHI Group

In insurance, risk is everything. Risk is what an insurance company “accepts” in exchange for your monthly, semi-annual, or annual payments – or “premiums,” as they’re referred to in the insurance world. When you’ve been labelled high-risk, you’re someone whose risk is greater than the average. Often, as a result, your premiums will be higher (but that’s not the only impact).

Being high-risk isn’t a good thing, but it doesn’t mean you can’t get affordable insurance. Let’s dig in a little more into what being high-risk might mean for you.

Why was I labelled as high risk?

High-risk usually applies to auto insurance, but it can apply to home insurance as well. To have been labelled as high-risk, it’s likely that you’re someone who:

  • Has been involved in multiple at-fault accidents
  • Has received multiple speeding violations or tickets
  • Has been cancelled previously due to non-payment
  • Has been convicted of insurance fraud
  • Has been convicted of major violations, like DUI
  • Has a rural or non-standard property
  • Has a home that’s 100 years or older

If you’ve ever been told that you’re a high-risk driver or have a high-risk home, odds are it’s because of one or more of the reasons listed above. Sometimes, young drivers or inexperienced drivers (including immigrant drivers, who may not have had their driving history carry over from their country of origin) may see similar rate hikes as high-risk drivers, but may not have the same high-risk label.

What happens if I’ve been labelled high-risk?

Being high-risk means you do not qualify for standard insurance. You’ll probably end up paying more for your insurance, sometimes two or three times as much. You’ll be required to purchase non-standard insurance, otherwise known as “high-risk” insurance.

What happens if you’ve been labelled high-risk? How is it different than ordinary insurance?

  • High-risk insurance always costs more than standard insurance. It can cost a minimum of 20% more, but sometimes up to 2-3x as much. It depends on your insurance company and why you’ve been labelled as high-risk.
  • Your payment options may be significantly limited. The most common reason why drivers are labelled as high-risk is due to non-payment. As a high-risk policyholder you may only be able to pay via certain means, or may be forced to pay for your policy upfront.
  • Your coverage will be limited. You may not be able to customize your policy nearly as much as if you had standard insurance. You’ll usually have capped liability limits, higher deductibles, and your policy may have certain conditions placed on it.

Being high-risk won’t just affect you. If it’s for your auto insurance, every other driver listed on your policy will also be impacted. It may also impact others living in your household.

How long will I be considered high-risk?

It depends on why you were high-risk in the first place.

For homes, it’s a little more difficult. Usually, if you weren’t cancelled due to non-payment in the past, your home is high-risk due to its infrastructure or where it’s located. You may be stuck with your high-risk label, unless you make certain modifications to your home, such as renovating its roof, older features, etc. Ask an agent for ways to save on high-risk home insurance, or discuss your situation with us and we’ll see if we can make some suggestions.

For cars and auto insurance, it boils down to time. Whether you were cancelled due to non-payment or for an at-fault accident, usually your high-risk label will fall off after 3-6 years. During this time, we recommend reviewing defensive driving habits, avoiding impaired driving, setting up automatic withdrawals or being upfront and honest with your broker if you’re ever unsure if you can make your insurance payments on time. If your financial situation is especially tight, you may wish to consider alternative transportation until your rates can come back down with time.

Who are the best insurance companies for high-risk?

Not every company offers high-risk insurance, but it’s important to find one that works for you and your budget if you are ever labelled as high-risk. The right company will offer decent coverage options at low rates (low as far as high-risk goes) and potentially even offer discounts to help you save even more.

Here are some of the best insurance companies if you’ve been labelled high-risk:

  • Progressive
  • State Auto
  • SafeCo
  • American Modern

To discuss more about high-risk insurance, or recommendations on how to save money despite a high-risk label, give us a call at 913-839-1478 today or get a free quote. AHI Group is more than happy to walk you through your new circumstances or connect you with an insurance company who specializes in high-risk insurance policies, saving you money and time.

Auto theft trends in 2024

Posted on by AHI Group

Auto theft is on the rise. Just 2 years ago, it was estimated that there was 283 auto theft cases for every 100,000 people, which equates to around one motor vehicle theft for every 31 seconds. Unfortunately, as criminals indulge more and more in trends like street racing and the practice of stripping cars for parts and reselling them internationally, more and more vehicles are beginning to vanish off the road.

Part of the reason why theft has increased was due to the pandemic-related stay-at-home orders, but in 2024 the majority of us have returned to office and resumed life “as per usual.” So why should you still be concerned about auto theft in 2024? Why is motor theft still such a huge issue?

Is auto theft on the rise?

While we’re still in the early stages of 2024, it’s tough to say how auto theft will continue to evolve. What we do know is that theft had risen by almost 11% between 2021 to 2022, according to data from the FBI, and that it may continue to do so as manufacturers continue to pump out highly appealing vehicles and car theft cases continue to go unsolved.

Why are so few vehicles recovered in car theft cases?

Unfortunately, solve rates for auto theft have always historically been low, but the spike in auto theft incidents has caused them to drop even more. Public data from New York City shows that police make 14 arrests per every 100 car thefts and in Denver that number’s even lower with 7 arrests for every 100 reported car thefts.

This is for a number of reasons. One is that, typically with property crimes, law enforcement resources are minimal. Budget, staffing, and technology can’t keep up with the rate of auto thefts. Worse still, car theft is often associated with worse crimes. Many thieves will use vehicles to commit worse crimes as they can later ditch the vehicle and law enforcement can’t track them down using a single license plate.

Hyundai and Kia motor thefts in the country

If you didn’t read our previous blog on the latest Hyundai and Kia news, here’s the quick rundown: many major insurers, like State Farm (as the biggest example), are no longer insuring Hyundai and Kia model vehicles due to their high “theftability.” This “theftability” comes from a TikTok demonstrating how certain models of Hyundai and Kia cars could be broken into with a USB cord and a screwdriver. As a result, these vehicles were being lifted off the streets left, right, and center, and insurers no longer wished to stay on risk due to the high chance of a theft claim.

This isn’t old news. Tons of vehicles are considered higher theft than others, whether because of their specific luxurious features that are appealing for resell, their prevalence on the roads, or vulnerable points that allow hackers to steal them easier.

OLBG did a good “prediction” list of what will be the most stolen cars in 2024. When purchasing a car, we recommend drivers to be conscious of the cars on this list. Many insurers will hike the rates of vehicles with high theft appeal; to combat that hike, drivers can either consider alternative models or invest in aftermarket security products.

What are the expectations for auto theft in 2024?

It’s very early to see how trends will shape up in 2024, but we’re already starting to see some shifts that could suggest what we’ll see throughout the year.

One trend that may start to increase in frequency is the use of specific electronic locksmith tools, i.e. ProPads, to steal high-performance vehicles. Vehicles with keyless entry features can be stolen through relay attacks via a blank key FOB and tech found on the Internet. This seems to occur the most with high-output engine vehicles, like Dodge Chargers, Durangos, and Challengers, as well as Jeep Grand Cherokees. These vehicles are usually stolen for the purpose of being re-tagged and then sold to unsuspecting buyers, or even later wrecked in street races.

Education in 2024 will be as important as it has ever been for decreasing the risk of auto theft. Vehicle thefts for cars that have been left with their keys inside were extremely common in 2022 and 2023, and may be no different for the coming year. Even if you feel you live in a “safe” community, you never know. Never leave your vehicle running and unattended (yes – even in the cold!) and always take your keys with you when you leave your vehicle.

As always, regular auto theft methods such as key swaps at dealers following test drives, car-jackings, and vehicles being stolen at service centers by accessing key boxes continue to be an issue. This is likely to continue into 2024 as well.

With all these trends on the rise and new ones continuing to evolve on the horizon, it’s important to stay vigilant, to stay informed, and to keep in mind all the best ways to protect yourself and your vehicle against the risk of auto theft.

How do you protect yourself against auto theft?

Car theft happens even to the most secure vehicles. While you can’t 100% of the time ensure your car is safe from auto theft, there are a few things you can do to hugely decrease your risk.

Here’s our tips:

  • Always lock your car doors and close the windows when leaving your vehicle.
  • Park in well-lit and populated areas, especially at night.
  • Install an anti-theft device such as an alarm system, steering wheel lock, or immobilizer.
  • Don’t leave valuables visible inside the car; store them in the trunk or take them with you.
  • Use a visible deterrent like a “Car Alarm” or “Protected by [Security Company]” sticker.
  • Consider installing a GPS tracking device to help locate your car if it’s stolen.
  • Don’t leave spare keys inside or around your vehicle, even if they’re hidden.
  • Be cautious of where you leave your car keys, and avoid leaving them in obvious or easily accessible places.
  • If possible, use a garage or secure parking facility rather than street parking.
  • Be vigilant and report any suspicious activity or attempted theft to the authorities.

Note that certain aftermarket car security products can qualify you for a discount on your auto insurance. Call AHI Group to discuss insuring a high-theft vehicle or for tips on how to protect your vehicle better – and save on your car insurance at the same time.

Could EV remote control features be a security risk?

Posted on by AHI Group

There are 2,442,270 electric vehicles, or EVs for short, registered in the United States as of 2024. With the electric vehicle market estimated to sit around $49.1 billion in 2023, it’s no surprise that we’re starting to see more and more of these vehicles on the roads nowadays. EVs are all the rage, but one of the latest advertised features, “remote control,” is starting to raise some questions.

Auto theft is on the rise, and thieves are becoming more successful in leveraging certain aspects of cars as more and more manufacturers start to offer more interesting “perks.” Let’s explore how EV remote control features could be a potential security risk.

How does remote control work?

Many electric vehicles today can be controlled remotely by using mobile applications or web-based systems. This allows the owners of EVs to perform a variety of tasks, from maintenance and assessing battery life to even monitoring the status of a vehicle’s charging, adjusting temperature, and locating the vehicle on a map. These features have greatly improved as newer models roll out, adding on additional hardware and software to improve user experience greatly.

Tesla is one such vehicle that offers remote control. Here’s an overview of what the system entails:

  • Locking and unlocking vehicles
  • Enabling or disabling AC and heating, as well as monitoring cabin climate
  • Checking vehicle’s charging status
  • Viewing vehicle’s estimated driving range
  • Opening the front trunk
  • Opening or closing the charging port
  • Seeing where the vehicle is located
  • View the vehicle’s VIN and current software
  • Flash lights/honk horn to find where car is parked
  • Park and retrieve the vehicle using the “Summon” feature

Electric vehicle safety features

Most electric vehicles, like Tesla, feature numerous security features to prevent or reduce the risk of auto theft. For example, Tesla features a Security tab on its mobile app which enables drivers to:

  • Pair their phones to the vehicle
  • Enable and disable autopilot and autopark modes
  • Enable notifications that trigger when the vehicle’s driving speed is within 5km/h of the maximum selected speed. You can disable or enable this mode as well

Although these modes may help reduce your odds of theft, they don’t prevent your chances altogether. Electric vehicles may be the most at risk due to their luxury appeal and high value. We recommend investigating aftermarket products to buff your security. Some products may even qualify you for a discount on your auto insurance!

How is remote connectivity a security risk?

For any vehicle that has remote connectivity and a computer chip, there’s a vulnerable point. In today’s tech-powered world, car thieves need to think beyond the old-school “bash in the window” in order to steal cars, and that’s just what they’ve done. Modern hackers have found EVs to be particularly vulnerable.

Connectivity features using Bluetooth, Wi-Fi, or cellular networks are the number one way hackers access electric vehicles. Even having a remote starter can serve as an entryway for hackers to gain access to your vehicle (and this applies to gas-powered vehicles, too!)

Another prominent vulnerability for EV security is public charging stations. The United States alone is home to well over 60,000 public charging stations, a majority of which are connected devices. These devices are, unfortunately, prone to being hacked as well and can be an entryway for thieves to steal away with electric vehicles – especially those that are left unattended by the owner. Public charging stations are also a vulnerability when it comes to identity theft, as to use these stations you’ll need to use an app or frequency ID card which houses IP addresses, network info, and location data. Hackers can manipulate this data and use it for personal gain.

Most vulnerable vehicles

The list of most commonly stolen vehicles changes each year based on statistics and trends. However, statistics aside, these vehicle manufacturers were found to house the most vulnerabilities:

  • Hyundai
  • Acura
  • BMW
  • Ford
  • Ferrari
  • Genesis
  • Infiniti
  • Kia
  • Jaguar
  • Land Rover
  • Mercedes-Benz
  • Porsche
  • Rolls Royce
  • Toyota
  • Nissan

How do you protect your electric vehicle?

There’s still a ton of work for manufacturers to do in order to protect electric vehicles against thieves. Remote control features are a great addition to have and enjoy for ease of access and convenience, but they do pose a serious risk as of where they’re at right now. Here are some ways you can reduce the risk of your EV (or any vehicle) getting stolen or hacked:

  • Consider using an at-home charging station as opposed to a public one. If you need to use a public station, choose a busier location where your car is more in the “public eye.”
  • Install a traditional anti-theft device that locks to your steering wheel. As old-school as these might be, they’re still a true and tried means of deterring thieves.
  • Avoid or limit the use of third-party apps that connect to your vehicle.
  • Always install the latest patch or software update from your vehicle’s manufacturer.
  • Park your car in a secure location, such as in a garage or private driveway.

For additional questions about protecting EVs or to talk about insuring an EV, give AHI Group a call.

What do I do if I’ve been hit in a parking lot?

Posted on by AHI Group

When you think “car crash,” you might think Highway 50 side-swipe or getting T-boned turning left after someone runs a red light, but not all crashes are as dramatic as that. You might be surprised to learn that many collisions happen in public (and private) parking lots.

Busy parking lot, people backing out without looking, rushing to turn left before oncoming traffic—the hustle-and-bustle nature and close confinement in parking lots can lead to some unfortunate scenarios. As careful as we try to be, we can’t control the behaviour of others. So, what do you do if you’ve been in a parking lot crash?

Things you need to know about getting hit in a parking lot

Getting hit in a parking lot is more common than you might think, but you’d be surprised at the potential severity of injuries and property damage, even with the low speeds. If you’re in your car at the time of the incident and there are injuries, the first thing you’ll need to do is call 911. If no one’s injured, then you’re safe to exchange information with the other driver. Make sure to get their registration, auto insurance, and driver’s license information on the scene.

Preparing to file a claim for a parking lot accident is no different than filing a claim for an accident that took place on a major highway. You’ll want to document the accident, take as many photos as possible, and possibly even call the police if there are injuries or the estimated damages exceed $2,000. If there are witnesses around, you’ll want to get their statements. If the parking lot where you were hit was outside a store, ask the store owner for any possible security footage they may be able to produce.

What if I don’t know who hit me?

Imagine you ducked inside a store to do a little post-work shopping and you came back outside to find the front of your car had been backed into. No other car in sight, and no one nearby seems to know who hit you. In this unfortunate scenario, sometimes known as a “hit-and-run accident,” an incident where a driver who is unidentified or even a driver who is identified but has insufficient insurance hits your car may be covered under collision insurance.

In the even more unfortunate scenario where you or even a passenger were still inside the car when it was hit and the driver is unable to be identified, you may have some coverage for their or your injuries under a section of auto insurance known as uninsured motorist bodily injury coverage.

Still, before you go through insurance, it’s important that you take a few steps to ensure you and your passengers are safe and your car isn’t in any further risk of being damaged:

  • Move your car to the side of the road, if possible
  • Turn on your hazard lights and try to mark out the area to avoid further accidents.
  • Once everyone’s safe, get in touch with law enforcement. If your car is OK to drive or the damage was only minor, you can drive to the nearest station to file a report.
  • You may also consider asking nearby shop owners if there are any security cameras overlooking the parking lot. This can help to identify the driver who hit you.

If you don’t have collision car insurance, the odds are you may have to pay out of pocket for the incident. If you do have collision coverage, you’ll need to pay your deductible before insurance covers the rest.

Travelers, one of AHI’s partners, has some good information on car insurance and covering hit-and-runs.

Getting in touch with your insurance provider

Call your insurance provider as soon as you’re done dealing with the police (if applicable) after an accident. Even if you’re not at fault, it’s important to let your insurer know to avoid delaying your coverage and/or repairs. Remember, you are not responsible for contacting the other party’s insurer, whether you’re at fault or not! In an accident where you’ll need to file a third-party car claim (such as where the other driver was at fault) you may need to file a claim with them, but you can do so virtually or by simply reaching out to your own provider to consult about next steps.

Calling your own insurance company is recommended because of these reasons:

  • It can help expedite the claims process
  • It can assist in providing coverage ASAP for injuries or damages (especially for families and individuals who are struggling financially)
  • You may end up having out-of-pocket costs if you fail to report the accident right away
  • The other driver involved in the accident could allege damages or injuries later, which could cause the story to not correlate with what you said initially at the scene

You should always inform your car insurance company, even if there’s minimal damage/no injuries at a collision or accident. We recommend doing so even if you’re not technically obligated to do so, as it’ll ensure that they have a record if you need to file a claim later or even if the other driver ends up filing a claim against you.

If you’re confused about what to do following a parking lot crash, not to worry. AHI Group is here to help answer any questions that you may have and help alleviate your concerns or worries. At some point, the majority of us will have been involved in a car accident. It can be stressful, but knowing what to do can be a huge aid. Give us a call today.

Identifying home insurance savings opportunities

Posted on by AHI Group

A storm of different market trends has caused property insurance prices to skyrocket. If you’re one of the thousands of Americans countrywide who have seen what appears to be an unprecedented difference in your rates, know that you’re not the only one who might be confused.

Multiple factors, including a shortage of skilled labour, low housing inventory, and historic demand for housing, has caused the cost of insuring homes for repairs and replacements to skyrocket. In this article with data from SafeCo, we’ll go over why this is all happening and how to identify savings opportunities despite the hard market conditions.

Why are home insurance prices so high?

With only around 980,000 unsold homes on the market in 2023 (down from 34% based on the past 3 years) the price of homes that have been sold in the United States has risen 42% since 2019.

*Source: National Association of Realtors, Federal Reserve Bank of St. Louis

The price of homes, combined with a shortage of skilled labour to build (and repair or restore) homes, plus high material costs due to shortages not having fully returned to pre-pandemic levels, are all reasons for home insurance prices increasing. Homes simply cost more to replace and repair than they once did, making for a greater need for higher coverage limits and therefore costlier premiums.

Opting not to select coverage limits that would fully cover the cost of your home were it to be destroyed in a total loss is one “solution” many policyholders may feel drawn to, but doing so may leave your home vulnerable in the event of an unexpected loss and could cost you more out-of-pocket than you would otherwise spend on your premiums. Raising your coverage limits may not cost as much additional per month as you might think, and it’s worth having full coverage in the long run.

Savings opportunities

With current rate inflation, many homeowners may be pushed to focus on savings opportunities where possible. Allow us to help – with our partnerships with insurers like SafeCo, we can help you find excellent discount opportunities that may help to combat or fully nullify the rate increases many policyholders across the United States are experiencing. We may suggest:

Home and auto bundling

One of the more popular insurance discounts, bundling your home and auto through the same provider can save you between 5% and 20%, depending on the insurer. With SafeCo, for example, you can save up to 15% on premiums, and tacking on other polices (like RV, renters, boat, etc.) can help the savings add up even more. Ask an agent to see what policies qualify.

New or renovated home

Have a newer home, or a home that’s been substantially renovated recently? You can win big on tremendous savings. Ask your agent about what age of home or standard of renos qualifies for new/renovated home discounts.

Roof payment schedule

Companies like SafeCo offer coverage for roof damage which depreciates payout based on roof age/type, which can save customers up to 4% on average, but even higher savings with severe storm states and homes that have older, unrenovated roofs.

Protective device discount

If your home features an approved protective device, such as a sprinkler system or a burglar alarm (and said devices are properly maintained and charged/have up-to-date batteries) you could receive a substantial discount.

Extra protection for at-risk customers

Although adding endorsements to your policy can increase your rates, there’s value in considering additional coverages if you’re at-risk of certain losses, such as sewer backup, groundwater flooding, and more. Adding these coverages could, in the long run, actually help you to save more money, and with today’s unpredictable (and oftentimes severe) climate, it can be greatly beneficial to preserving your peace-of-mind and the sanctuary of your household.

Consider these endorsements, or discuss with an agent:

Water backup or sewer backup

This endorsement, added to your home policy, offers coverage when water escapes or discharges from a sump or sump pump/similar system and enters your home. Sewage is filthy and can seriously hurt the health of your household, but a mop won’t do the trick. This coverage covers the cost of cleanup and can help to pay off the cost of repairs to your home.

Personal property ACV

Should you experience a covered loss, this endorsement guarantees actual cash value for your belongings at the time of a loss, and then up to the full amount of what it would cost to replace with today’s market.

In unprecedented times, AHI is here to help

All things considered, between the hard market and COVID-19 ripples, it’s tough to be a policyholder. When you feel as if your rates have risen for “no reason,” you might feel tempted to even cancel your policy. We advise you give us a call to discuss your options. While cancelling your insurance might seem like the “right” decision, it can leave you massively exposed – and for many, could void the conditions of their mortgage agreement.

AHI Group is happy to discuss your insurance with you and go over your options. While we understand current rate fluctuations can be confusing and even upsetting, we’re here to provide you with ways to save and can help you comparison shop to find the best rates. Give us a call.

Understanding flood coverage in renters insurance

Posted on by AHI Group

You may already know what an “endorsement” in insurance is. You may already know that a standard home policy won’t cover flooding, and that in order to have flooding coverage in your policy you’ll need to purchase an endorsement to modify your existing coverage. This makes sense with home insurance. Water damage can be detrimental to someone’s property.

What you may not know is that renters are eligible for flood insurance as well, even while renters insurance doesn’t insure the physical unit where you live it does insure your belongings, which could be at risk if your unit were to flood. Flooding occurs in every U.S. state and just a few inches of standing water can cause irreparable damage to your belongings. Here’s what you need to know about flood coverage in renters insurance.

An overview of renters insurance

Renters insurance, also referred to as tenant insurance, is a crucial financial safeguard for individuals and families who are residing in rental properties. It offers protection for personal belongings, liability coverage, and additional living expenses in the event of covered perils such as fire or theft. However, there’s a notable gap in standard coverage regarding floods, a peril that can cause significant damage to property and possessions – especially in some areas of the U.S., and especially for those residing in “at risk” homes or units, such as those on the ground floor or below-ground, and those near lakes, rivers, and in low-lying regions or valleys.

Mending the gap: Adding flood coverage to renters insurance

Floods, though not always top of mind for renters, can pose a substantial risk, especially in certain geographical areas. Many standard renters insurance policies don’t automatically include coverage for flood-related damages. To bridge this gap, renters have the option to add specific flood coverage to their policies. This additional protection ensures that the financial impact of flood-related losses, such as damage to personal property and the cost of temporary living arrangements, is mitigated.

Flood insurance, when added to a renters policy, typically insures against:

  • Overflow of tidal or inland waters, including flooding due to prolonged rain, overflow of rivers, lakes, or other freshwater bodies, and storm surges.
  • Flash floods, which can include sudden and intense floods (known as flash floods) which occur with little to no warning.
  • Mudflows and landslides due to heavy rainfall, although this isn’t true of every policy.
  • Storm-related flooding due to tropical storms, hurricanes, and other severe weather events.

Flood insurance will almost never cover tsunamis or saltwater flooding. Flood insurance will also not cover water damage due to poorly maintained piping or appliances which break and cause damage over time.

Flood insurance may insure you for the repair or replacement cost for your personal belongings damaged by flooding as well as the cost to temporary relocate elsewhere while your home/unit is being restored following a flooding event.

Quick Questions about Flood Insurance as a Renter:

How much does flood insurance cost to add to renters insurance?

The cost of adding flood insurance to renters insurance can vary based on several factors. These may include the location of the rental property, the level of flood risk in that area, the chosen coverage limits, and the insurer’s specific pricing policies. Generally, the cost can range from a relatively modest annual fee to a more significant amount, depending on the perceived risk of flooding in the region. Renters can enlist an agency like AHI to obtain an accurate quote tailored to their specific circumstances and see for themselves how much the endorsement will cost to add. Keep in mind that renters insurance on its own tends to be relatively inexpensive, and even the addition of flood insurance may still be far from “breaking the bank.”

How do I know if I need flood insurance as a renter?

Determining the need for flood insurance as a renter involves assessing what kind of risks flooding poses to you and your home. Factors to consider include the property’s location, proximity to bodies of water, historical flood data for the area, and local floodplain maps. Areas designated as high-risk flood zones by the Federal Emergency Management Agency (FEMA) are more likely to experience flooding, and obtaining flood insurance is often strongly recommended in these regions. Additionally, renters should consider the potential consequences of flood-related damages to their personal belongings and the cost of temporary relocation. If the rental property is in a moderate-to-high-risk flood area, or if there’s a history of flooding incidents, it’s not a bad idea for renters to seriously consider adding flood insurance to their renters insurance policy. We recommend reaching out to an expert agency, like AHI, to review your flood risk and provide you with valuable insights to help you make a more informed decision!

Is flood insurance something you should add to your renters policy?

As a renter, assessing your flood risk and considering the addition of flood insurance keeps you well-prepared for the potential damages to your personal property and living space that flooding could bring. At AHI Group, we are committed to helping you navigate the complexities of renters insurance. Take a moment to review your policy with us, ensuring that you have the right coverage to safeguard your belongings and provide peace of mind in the face of unexpected challenges. Your protection is our priority, and we’re here to assist you every step of the way.

Weathering the storm: What to do after a major snowfall

Posted on by AHI Group

Kansas recently experienced an unexpected snowstorm, burying the bulk of the metro area in 6 inches of snow. As the snow settles, the real work begins to ensure a smooth recovery process. While this particular storm may not have been “world-shattering” for many residents, it’s a fair reminder of our need to be prepared in the event of unexpected disasters. In this guide, we’ll walk you through the essential steps to take after a major weather event, offering valuable insights on how to restore normalcy to your living or working space.

And, for those seeking professional assistance in the cleanup after a snowstorm (even our most recent one), we’ve partnered with Sage Restoration, experts in emergency services such as water extraction, fire, and smoke cleanup. If you need to make a claim, we highly advise enlisting their services to get yourself back to normal ASAP.

Step one: Assessing the damage and taking stock of the aftermath

Begin by conducting a thorough assessment of your property, inside and out. Check for visible damages such as roof leaks, broken windows, or structural issues. Pay close attention to the foundation and ensure there are no signs of shifting or cracking. Additionally, inspect electrical systems and appliances for any potential hazards.

As you survey the exterior, be mindful of fallen trees or branches that may pose immediate dangers. Note any downed power lines and keep a safe distance. Take photographs or videos to document the extent of the damage for insurance purposes. This documentation will serve as valuable evidence when filing claims. And, perhaps most importantly, consider your own safety and if you are worried about re-entering your home after a major event, consult with professionals before re-entering.

Step two: emergency measures: Prioritizing safety and mitigation

Once you’ve evaluated the damage, focus on immediate actions to safeguard yourself and prevent further harm to your property. Prioritize safety by turning off gas and electrical utilities if necessary. If you smell gas or suspect a leak, evacuate the premises immediately and contact the utility company.

Mitigate risks by securing vulnerable areas. Cover broken windows with plastic or boards to prevent further exposure to the elements. Use tarps or buckets to collect water from leaks and reduce interior damage. If water has infiltrated your home, place towels or buckets strategically to minimize its spread.

Consider seeking temporary shelter if your home is unsafe. Local authorities often provide emergency shelters during severe weather events.

Step three: Dealing with flood and moisture issues

As the snow begins to melt, one of the primary concerns is water damage. Addressing this issue promptly is crucial to prevent long-term structural problems and mold growth. Start by identifying areas affected by flooding or excessive moisture. Remove standing water using pumps or wet vacuums, and open windows and doors to enhance ventilation.

After extracting visible water, focus on thoroughly drying the affected spaces. Use dehumidifiers to reduce humidity levels, aiding in the prevention of mold proliferation. Remove wet or damaged materials such as carpets, insulation, and drywall to minimize potential health risks and accelerate the drying process. Professional water extraction services, like those offered by Sage Restoration, can ensure a comprehensive and efficient restoration of your property.

Step four: Rebuilding and recovery

After mitigating immediate concerns, shift your focus to rebuilding and long-term recovery. Begin by developing a comprehensive recovery plan. This should outline the necessary steps, timeline, and budget for the restoration process. Engage with professionals, such as contractors and restoration experts, to assess the structural integrity of your property and create a detailed plan for reconstruction.

Coordinate with your insurance company to understand the coverage and file necessary claims. Keep all documentation from the initial assessment, as well as receipts and records of expenses incurred during the recovery process.

Partnering with the best

AHI Group is proud to partner with some of the best companies in KS, MO, and NE – like Sage Restoration. The restoration and recovery process is one unspoken part of insurance that often goes underappreciated. Insurance agencies and companies work with top-rated restoration services to ensure their policyholders’ expedited recovery and return to normal.

For further questions about recovering from a major weather event, like a huge snowstorm, give us a call here at AHI Group. We’re more than happy to discuss your needs or give you guidance when you need us most to help you get back to life as you once knew it.

Archives

Categories