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Dyman Associates Insurance Group

Dyman Associates Insurance Group

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  • Dyman_associates_insurance_group_of_companies_│tips_to_know_what_home_insurance_covers_and_what_it_doesn_t_132_

    If a tree falls in your yard, your insurance agent might not hear it.

    You probably bought your home policy years ago, then stuffed it in a file somewhere. Will it be there for you when you need it?

    Here's how to protect yourself:

    1.You'll probably have to fight to get a big claim paid. Homeowners who suffer a loss of $30,000 or more get the most pushback from their insurers over damages, coverage and slow payouts, ShopSmart's recent survey data shows. But the coverage of huge losses is exactly why you buy home insurance.

    Protect yourself. You can cut your odds of a fight by doing business with an insurer that pays its claims. The best carriers for claim-payment satisfaction are Amica, Auto-Owners and USAA, according to the most recent Consumer Reports National Research Center survey of 9,905 subscribers who filed homeowner claims from 2010 through the first six months of 2013.

    2.The first offer may not be your best offer. Consider your insurance adjuster's first offer just an opening gambit.

    Protect yourself. If you have a dispute over damages, make the adjuster go over the estimate, line by line, with you and your contractor. Get a second opinion from an independent contractor or multiple estimates, if necessary.

    3.Your trees can bankrupt you. Linda Paustian of La Porte discovered that after a violent thunderstorm dropped about 40 hard maple and red oak trees on her home and property in June 2010. State Farm paid $6,000 to remove the trees that struck Paustian's 1895 ...

  • Along with the many other steps to take when starting a business, here's one that many self-employed folks neglect: checking to make sure they have the right car insurance coverage.

    Just because your business is part-time or operated out of a home office on a shoestring budget doesn't mean a personal auto insurance policy is enough. There are different types of car insurance that you should know about to be sure you have sufficient coverage.

    Here are five coverage tips to make sure you have the protection you need:

    1. Don't lie to the car insurance company.

    A personal car insurance policy typically excludes coverage for some types of business use, other than commuting to an office, so you need to check the policy and let your insurer know how you're using the vehicle.

    "Otherwise the insurance company could deny a claim and then cancel your policy if you rely strictly on a personal auto insurance policy and use your vehicle for business purposes," says consumer analyst Penny Gusner.

    That goes for part-time businesses, too, says James Kuryak, principal of Niagara National Insurance in Buffalo, N.Y.

    In his region, for instance, a lot of folks make extra money in the winter by attaching plows to their pickups to clear private roads. Generally vehicles with equipment attached to them require commercial insurance.

    2. Determine whether a business-use endorsement on your personal policy is necessary and would provide enough coverage.

    A business-use endor...

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    Insurance requires you to think about bad occurrences … medical problems, car accidents, emergency home repairs. But although it may sound pessimistic to dwell on what could happen (carpe diem, anyone?), it’s important to protect yourself from some of life’s biggest surprises.

    When it comes to protecting your home, it’s not just about safeguarding against structural damage or theft—it’s just as much about feeling secure in where you live. If disaster strikes, your focus should be on reclaiming your sense of stability. The last thing you should worry about is money.

    We spoke to LearnVest Planning Services certified financial planner Ellen Derrick—and some real homeowners—about the top 11 things you should know about homeowner’s insurance.

    1. What It Covers

    A typical policy will pay for damage to your property and your possessions in the event of certain storms, fire, theft or vandalism. Like renter’s insurance, it also provides liability coverage if someone gets hurt on your property and decides to sue. Homeowner’s insurance also covers shelter costs, so you don’t have to face crazy hotel bills if you’re temporarily displaced from your house.

    2. What It Doesn’t Cover

    A standard policy has exclusions, including earth movements (landslides, earthquakes, sinkholes), power failure, war, nuclear hazard, government action, faulty zoning, bad repair or workmanship, defective maintenance and flooding. Windstorms are typically covered, including tornad...

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    Scott Bond and Dale Reisner, Washington State Hospital Association and Washington State Medical Association

    More than half a million people have newly enrolled in health insurance in our state. This is cause for celebration. People now have the security of knowing that if they get sick or injured they will not be devastated financially.

    But insurance and access to health care are two different things. Will insurance companies contract with enough hospitals and physicians to serve all of these people — to provide the in-network care that people rightly expect?

    Our state’s insurance commissioner, Mike Kreidler, is grappling with this question right now. Kreidler’s job is to ensure that health insurance is meaningful for consumers, so they can find a doctor and get the care they need. If you get sick, you need care, preferably at your physician’s office or local hospital. If you have to travel long distances to get this care, will you feel you are truly covered? If you cannot get to the right specialists for a potentially life-threatening condition, will you be satisfied with your coverage?

    Kreidler is finalizing regulations defining minimal standards for access to care. But these proposed regulations fail to guarantee access to care; in fact, they may be a license to reduce access. Although these 27 pages of regulations set out specific requirements for access to in-network providers, they also contain huge loopholes. These loopholes allow insurance companies to be ...

  • Dyman Associates Insurance Group of Companies

    There is an old saying about life insurance: “Life insurance isn’t bought, it is sold.” The public doesn’t exactly clamor to buy life insurance, and if you don’t believe me then just try to find a life insurance store at pretty much any major retail mall. Instead, life insurance agent and financial planners (and increasingly accountants and attorneys) look for suitable prospects and opportunities to sell life insurance to those with a perceived need.

    There is no doubt that while the public doesn’t really think much about buying life insurance, they have a need for it. Life insurance serves the purpose of funding the family’s continuation at death, and prevents the financial shock from the loss of the family’s main provider.

    Life insurance is also sold as a tax shelter of sorts. Because the investment growth on the cash value of a life insurance policy is not taxed, and in fact may never be taxed, life insurance can sometimes be a very efficient investment. (And sometimes not — eventually, the cost of insurance which increases dramatically with age can significantly eat away at investment returns, and more often than not the investment returns somehow never quite match the pollyannaish predictions of the illustrations shown to prospective buyers — those illustrations with unrealistic financial projections being known in the industry as “liar ledgers”).

    The problem with life insurance as a tax shelter is ...

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    Dyman Associates Insurance Group of Companies

    Three top pieces of financial advice — from the consolidation conundrum to counting expenses like calories

    Insurance You Don't Need

    Sometimes it makes sense to skimp on insurance, said Aaron Crowe at Daily Finance. "You could almost insure every step you take in life," but that doesn't mean you should. Getting life or health insurance is a no-brainer. But in other cases, it might make more sense to start an emergency fund instead. Buying rental car insurance from the rental agency is often redundant — and expensive — since your credit card or auto insurance may cover you anyway. And speaking of cars, if you're all paid up on an old car, skip the collision insurance. "If a car is totaled in an accident, insurers only pay the current value of the vehicle." If your old clunker isn't worth much, "you're better off putting that collision premium in a fund to help you buy a new car when you need one."

    The Consolidation Conundrum

    Debt consolidation loans can be a catch-22, said Gerri Detweiler at They're a helpful "lifeline" for people with bad credit, but you need good credit to get one. Lenders typically factor in how much of your available credit you use, your debt-to-income ratio, and your payment history before approval. The first step toward improving your odds is to evaluate your credit reports "to see where you stand.” Once in the market, avoid products like payd...

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    From the old fiction about red cars costing more to insure, to the one about rates dropping when you turn 25, to the idea that "full coverage" means you get a new car after a crash, myths about car insurance abound. And they're easy enough to take at face value -- until you look at the facts. Not falling for these eight insurance fables could save you some cash.

    1. "Full coverage" will get me a new car if I crash. Your auto repair shop may thank you for having collision and comprehensive coverage, because they'll get paid by your insurer for fixing your car. But however you define "full" coverage, it won't equate to you getting a new car after you crash. Insurance is meant to put you back to where you were, not improve upon it, so you won't be getting a better car than you had.

    If your car insurance agent tells you that you have "full coverage", ask what that entails. It could include liability, property damage and rental reimbursement, says Shane Fischer, an attorney in Winter Park, Fla. "Unfortunately, most people who claim to have 'full coverage' are people of modest incomes who buy the cheapest policy their state legally allows," he says. "This can leave them without uninsured motorist coverage if they're a victim of a hit and run, without a rental car if theirs is damaged in a crash or personally responsible for thousands in medical bills if they don't have enough liability coverage."

    Full coverage isn't an i...

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    Most of the cheapest cars to insure aren't actually cars, they're SUVs and minivans.

    If you want to save money on auto insurance, spring for an SUV or minivan.'s annual ranking of the vehicles with the best car insurance rates is dominated by non-sedans.

    A few years ago, minivans held a good grip on our "least expensive to insure" rankings. But small and mid-size SUVs have been increasingly grabbing ranking spots. This year, minivans account for just five of the top 20 places.

    And Jeep grabs a remarkable seven of the 20 "least expensive to insure" spots.

    The advantages that propelled the minivans to the best spots are now being seen with SUVs: Family-friendly vehicles used mainly for safely ferrying kids around to Scout meetings and soccer matches. The parent driving the kids is among the least likely to speed, crash or have a claim.

    And good rates always boil down to claims: When drivers of a certain vehicle submit fewer claims and/or less expensive claims, all owners that vehicle benefit with better car insurance rates.

    That brings us to the Jeep Wrangler, Patriot, Compass and Grand Cherokee. Their good insurance rates hinge on Jeep owners.

    While Jeeps exude an "adventurous spirit," they're usually not used for reckless abandon.

    Least expensive 2014 cars to insure

    1. Jeep Wrangler Sport - $1,080
    2. Honda Odyssey LX - $1,103
    3. Jeep Patriot Sport - $1,104
    4. Honda CR-V LX - $1,115
    5. Jeep Compass Sport - $1,140
    6. Chrysler Town & Country ...
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    Automobile insurance is a gamble and is based on risk. We pay for it, but we rarely experience its benefits firsthand. Sometimes we feel it's a waste of money. But accidents happen and when they do, your auto insurance will protect you and your finances. How much it protects you depends on your combination of options and amount of coverage.

    But, let's face it, understanding your policy is difficult and at times you are not sure exactly what you are buying.

    Third-party liability bodily injury: This should be given the greatest of importance. This will help insure you for another party's medical expenses caused by an accident that was your fault. This does not cover your car or other property damaged in the accident.

    Property damage liability: This protects you if your car damages someone else's property.

    Uninsured motorist coverage: This covers bodily injury to you if you are injured in an accident by someone who is not insured and at fault.

    Collision coverage: This pays for the damage sustained by your car when you collide with another car or other object like a tree, fence or a post.

    Comprehensive coverage: This covers the damage to your car that is not covered in the collision coverage. This could include vandalism, theft, falling objects, glass breakage, fire, animal damage. Most auto insurers on Guam offer typhoon coverage as an option.

    Medical payment coverage: Covers medical bill costs associated with the accident for you and passengers in...

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    When shopping for a new home, some of the same features that lure you in could end up costing you extra in insurance premiums.

    If you’re like the many buyers who wait until after going into contract to get insurance quotes on a property, you could be faced with some serious sticker shock. Check out these five seemingly desirable home features that might end up costing you more than you realize in the long run:

    1. Swimming pools

    Because of both the high rate of drowning and the severity of water-related injuries, insurance companies consider swimming pools one of their biggest liabilities. Consider the possibility of a neighborhood kid accidentally falling into your pool and sustaining an injury. You could be held liable for the high cost of their hospital bills, and if they choose to sue, you could also rack up considerable lawyer fees and other court expenses.

    Most standard homeowners insurance policies include a minimum liability coverage limit of $100,000 in order to help protect you financially in the event of such a lawsuit. However, if your home includes a swimming pool, the Insurance Information Institute recommends increasing your limit to at least $300,000 or even investing in an umbrella policy to increase your liability coverage.

    Your insurer will also likely require you to build and maintain a self-locking fence around the pool to keep others – especially children – out. Additionally, if the pool itself is expensive, you may need to increase coverage limits...

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