Take Heed with Your Financial Records

Think of a family as a mini-business. Families plan, save, buy, and invest just like most businesses. For this reason, maintaining the proper family records is just as important as keeping business records is. Saving these records for the proper amount of time is an integral part of this whole process. The following tips are good rules of thumb to follow concerning your family and financial records.

• Essential personal and family records such as birth, marriage, and death certificates should be permanently stored, preferably in a safe deposit box. The same rule applies to passports and original Social Security cards. Backup electronic copies via scanning should also be maintained.
  
• Vital property records, such as real property deeds, burial lot deeds, and motor vehicle titles, should also be permanently stored in a safe deposit box.
  
• An inventory of household goods and appraisals should be stored in a safe deposit box or electronically with backups. Photographs or videos of valuable personal property should also be maintained and safeguarded.
  
• Insurance policies should be kept a minimum of 7 years in a home file. A list of all current insurance policies and policy numbers should be maintained in the safe deposit box or electronically with backups in the event of a house fire.
  
• Auto service records should be retained in a home file for the duration of the ownership of the vehicle. These records may be helpful when selling the vehicle later.
  
• Copies of canceled checks for non-tax-deductible expenditures should be stored in a home file or electronically for 3 years. Receipts and records of deductible expenses should be stored in a fireproof home file or electronically for 6 years.
  
• Copies of past tax returns should be kept a minimum of 6 years (15 years is best).
  

Copyright 2014
International Risk Management Institute, Inc.

Hiring a Home Security Company

Five tips for hiring a home security company

Advertisements for home-security companies are all over the place — TV, newspapers, radio, online. But with so many companies out there, how do you know which one is right for you? And how do you know they’ll keep your home safe?

At Siegel Insurance, we think that purchasing a home monitoring system can help give you peace of mind when you’re at home or away. Of course, there are a number of precautions you can take yourself to increase safety and make your home uninviting to burglars. But if you’re considering hiring a company, here are some tips, including guidance from the Electronic Security Association (ESA), a nonprofit trade association for the industry.

 

1.     Get advice. You wouldn’t buy a car without asking your family, friends or neighbors for input. So why would you shop for a security system without their help? You also can look to the Better Business Bureau or online for reviews of the companies you’re considering — but keep in mind that you’ll want to check several different sites to make sure you’re getting a fair cross-section. Some reviews could be fake, especially if they’re overwhelmingly positive or negative.

2.     Check credentials. The ESA has a certification program through its National Training School, which provides extensive training in electronic security. In addition, ESA member companies must adhere to a code of ethics and standards of conduct.

3.     Ask about licensing. Some states require security system installers to be licensed, so ask companies if it’s a requirement in your state. If it is, the company should provide proof that its licenses are in good standing.

4.     Meet with several companies. Narrow your search, and then speak with representatives of two or three companies. They should inspect your home (always ask for identification before letting them in) and provide recommendations. Be sure to get any quotes in writing.

5.     Read your contract before signing! Don’t let a company representative pressure you into signing a contract you haven’t read or don’t understand. In fact, if you are receiving any pressure at all, proceed very cautiously with that particular company.

Having an alarm system can help you sleep easier at night — but only if you choose the system and company that’s right for you. So take your time, ask plenty of questions, and don’t be afraid to say no!

There could be a discount!

Getting a home security system could make you eligible for a discount on your insurance. Give us a call today at 404-633-6332 to find out how we can save you money.

Contact Us!

At Siegel Insurance, Inc., we can work with you to make sure you've got the coverage you need while at the same time using all possible credits and discounts to make that coverage affordable. Just give us a call at 404-633-6332 or send us a note at info@siegelinsurance.com. We want to help you meet your goals and make sure what's important to you is protected!

Why You Need An Insurance Checkup

Why You Need An Insurance Checkup

A host of insurance surveys indicate that tens of millions of US households have insurance policies that are seriously out-of-date. As a result, the following questions should be asked. If the answer to one or more of these questions is yes, you should contact us as soon as possible so that your insurance policies can be appropriately updated.

Have you recently started a home-based business? If so, this loss exposure may not be adequately protected.

Has your house undergone major renovations or improvements? If so, your home may be underinsured.

Has your marital status changed? If you have recently gotten married, for example, you may now qualify for a multi-car discount on your auto insurance.

Have you recently purchased new valuables or collectibles? If so, you may be seriously underinsured for these items. Specialty policies or endorsements can properly cover them.

Are you now participating in a carpool? If so, your exposure to injuring passengers has grown and your liability limits may need to be increased.

Are you now retired? If so, your auto insurance premium will likely drop since your annual mileage should decrease.

Have you added a burglar alarm with central station reporting for your home? If so, you could qualify for a homeowners premium discount.

Have you updated major heating, ventilating, and air-conditioning systems? If so, you may qualify for additional discounts under your homeowners policy.

Yard Work Safety - Stay Safe

Yard Work Safety

Let's Keep Our Lawns - and Ourselves - Safe in Georgia

For many of our neighbors in Atlanta, summer means more than sunshine and vacations. It also means working in the yard - often with tools that can be dangerous if not used properly.

Each year about 400,000 people are treated for injuries from lawn and garden tools, according to the U.S. Consumer Product Safety Commission (CPSC). Don't let your landscaping efforts land you in the hospital! Follow these handy safety tips.

Tool safety tips from the U.S. CPSC

• Dress appropriately. To protect yourself from debris when using lawn tools, wear eye protection, long pants, long-sleeved shirts, close-fitting clothes and no jewelry. Sturdy shoes are recommended, and ear plugs may be appropriate depending on how loud the device is.
• Before starting, remove objects from your work area that could cause injury or damage, such as sticks, glass or stones.
• Keep children indoors and supervised at all times when any outdoor power equipment is being used. Never let a child ride or operate a garden tractor or riding mower, even if the child is supervised. And never assume children will remain where you last saw them.
  Use extreme caution when backing up or approaching corners, shrubs and trees.
• Teenagers using power equipment should always be supervised by an adult.
• Handle gasoline carefully. Never fill tanks while machinery is on or when equipment is still hot. Of course, you should never smoke or use any type of flame around gasoline or any gasoline-powered equipment.
• Do not work with electric power tools in wet or damp conditions. For protection against electrocution, use a ground fault circuit interrupter (GFCI).
• Be sure that extension cords are in good condition, are rated for outdoor use, and are the proper gauge for the electrical current capacity of the tool.

From all of us at Siegel Insurance, Inc., here's to keeping both you and your lawn healthy this summer!

Healthcare Open Enrollment Deadline - March 2014

Healthcare Open Enrollment Deadline - March 2014

All of the problems over the launch of the Affordable Care Act, a.k.a. Obamacare, led to a number of executive changes, which have added to the confusion. The Open Enrollment deadline, however, remains a firm date: March 31, 2014.  If you miss that deadline, you might not be eligible to enroll in a health insurance plan until next year—most likely November 15, 2014 to January 15, 2014.

Where do you stand?

If you began an online application but did not complete it, you’ll need to compare health plans that are available to you through the Marketplace and then choose a plan in which to enroll.

If you began an application on paper or by phone, you’ll need to take the final steps to finalize the process. You would have received an eligibility notice in one of three ways: by mail, via a message in your HealthCare.gov account that says your eligibility results are available, or by phone.

You can complete the application as follows:

·         By phoning the call center, as long as if you have an application ID

- Call 1-800-318-2596 (TTY: 1-855-889-4325).

- A call center representative can help you compare and choose a plan.

·         By visiting the website, clicking your online application, selecting “View Eligibility Requirements”

If your eligibility notice came in the mail, you should find your application ID at the top of the page. If you do not yet have an application ID, you can also obtain one from the call center.

If you have not initiated (or completed) the online application process, you would take the following steps:

1.       Establish (or log into) your Marketplace account

-          If you don’t have an account, start with the “create account” page. 

-          If you have an account, log in, choose “find my existing application,” and enter your application ID.

2.       Your application ID allows you to view and compare the plans available to you.

3.       Select a plan and pay your premium.

The most important step is the last. Whether you complete your enrollment online or by phone, you are required to pay your first month’s premium directly to the insurance company—not to the Marketplace. Coverage does not take effect until your premium is received.

Special life events will qualify you to purchase health insurance outside the enrollment period:

·         Marrying

·         Having or adopting a child

·         Moving to a new area with different plans

·         Losing health coverage through a job loss or because you no longer meet eligibility requirements, such as via COBRA or Medicaid

·         Losing another plan because it is deemed ineligible

·         Experiencing a change in income that affects tax credits, etc.

Details are available on the Healthcare.gov website.

Whether or not you are happy with the current healthcare laws, keep in mind that you could owe a penalty if you (including members of your household) don’t have health insurance for over three months during a year. The penalty might not be much, but you’ll want to evaluate the risk of not having any health insurance, especially if you cannot afford to self-insure.