Insurance News

We're Moving

Tom Raasch — Wed, 15 Jul 2020 19:59:00 GMT

Effective 7/31/2020, our office will be moving to:

7251 West Lake Mead Blvd, Ste 300, Las Vegas, NV 89128.

The new office is just minutes from our current location.

Our website, phone, fax and email all remain unchanged.

Read the full article at www.rralv.com

Nevada increasing the minimum insurance limits drivers are required to carry

Tom Raasch — Thu, 18 Jan 2018 00:45:00 GMT

The State of Nevada has enacted Senate Bill 308 (SB308) increasing the minimum auto insurance limits each driver is required to carry. Effective July 1, 2018, the minimum insurance limits will increase to 25/50/20 ($25,000 per person/$50,000 per accident for bodily injury liability and $20,000 for property damage liability). The current state law requires each driver to carry 15/30/10 ($15,000 per person/$30,000 per accident for bodily injury liability and $10,000 for property damage).

Auto Insurance rates in Nevada have been on the rise for the past several years and it will only get worse when the law goes into effect on July 1, 2018, as insured’s carrying the current state minimum limits can see rate increases of 10%-30% or higher.

Some of the reasons for the increase in auto insurance premiums are:

1. More miles driven

3.148 trillion miles were driven in 2015. That’s a 3.5% increase over 2014 — the largest annual increase in 25 years. More miles driven equals more cars on the road which leads to a higher probability of accidents, and we’ve seen just that with a higher accident frequency.

2. Increase in traffic fatalities

Traffic deaths decreased 22% from 2000 through 2014. Estimations for 2015 show a 7.7% increase over 2014. You read that correctly. After a steady 14-year decline, traffic deaths jumped which matches an increase in accident severity that we’ve seen.

3. Bodily Injury claims are higher

The average cost of bodily injury claims rose 32.1% between 2005 and 2013. Part of this increased cost is due to increased accident severity. The cost of medical care is also rising.

4. Cars are more expensive to repair

Vehicles are more costly to repair because they include more technology like sensors and backup cameras. A few years ago, there were only a few cars with these safety features on the road, now they’re becoming standard. Newer cars are more expensive to replace because what used to be a minor bumper replacement on an older car now involves replacing those sensors and cameras as well.

5. Distracted Driving

The National Safety Council estimates one in four car crashes involves cell phone use. A recent AAA report shows 87% of drivers engaged in some kind of risky behavior behind the wheel. 70% of drivers admitted they talk on a cell phone while driving and 42% said they read texts or emails while driving.

If you have your auto insurance with a carrier that has increased your insurance rates due to any of the factors outlined above, now would be a great time to contact First Dependable Insurance for a quote. As an independent insurance agent we represent a dozen different auto insurance carriers (One of which will be perfect for you).

Read the full article at www.rralv.com

Silverado Ranch Location

Tom Raasch — Thu, 19 Oct 2017 21:25:00 GMT

Our Silverado Ranch office will be moving into our Summerlin office on October 27th, 2017. Our website, phone #'s and email addresses will remain the same.

The address of our Summerlin office is: 1700 N Buffalo Dr # 103, Las Vegas, NV 89128.

Read the full article at www.rralv.com

5 Statistics that illustrate the current auto insurance industry

Tom Raasch — Tue, 20 Sep 2016 17:31:00 GMT

I wanted to give you some insight into what we’re seeing and share some factors that may impact your auto insurance rates.

To start with, let’s compare the auto insurance industry overall in 2015 with 2006: In 2006, the industry auto loss ratio was 69.7% ( for every dollar collected in premium, 69.7 cents was paid out in claims). In 2015, the loss ratio has jumped to 80.2%. What's driving the increase? More cars are on the road. Drivers are more distracted. Cars are more expensive to replace.

Here are a few statistics the entire auto insurance industry is experiencing:

3.148 trillion miles were driven in 2015. That’s a 3.5% increase over 2014 — the largest annual increase in 25 years.[1]

More miles driven equals more cars on the road which leads to a higher probability of accidents, and we’ve seen just that with a higher accident frequency.

Traffic deaths decreased 22% from 2000 through 2014. Estimations for 2015 show a 7.7% increase over 2014.[2]

You read that correctly. After a steady 14-year decline, traffic deaths jumped which matches an increase in accident severity that we’ve seen. Claims are also more costly. For example:

The average cost of bodily injury claims rose 32.1% between 2005 and 2013.^[3]

Part of this increased cost is due to increased accident severity. The cost of medical care is also rising, and vehicles are more costly to repair because they include more technology like sensors and backup cameras. A few years ago, there were only a few cars with these safety features on the road, now they’re becoming standard:

The U.S. set a new car sales record of just under 17.5 million vehicles in 2015, up 5.7 percent from the year before.[4]

Newer cars are more expensive to replace because what used to be a minor bumper replacement on an older car now involves replacing those sensors and cameras as well.

With the improving economy and lower gas prices, more people are choosing to drive. Drivers are also more distracted than ever.

The National Safety Council estimates one in four car crashes involves cell phone use.

A recent AAA report shows 87% of drivers engaged in some kind of risky behavior behind the wheel. 70% of drivers admitted they talk on a cell phone while driving and 42% said they read texts or emails while driving.

If you’ve been following the news this year, you’ve noticed a few stories mentioning some of these statistics and tying them to increasing auto insurance rates. Carriers will likely respond to this growing rate need differently, but based on industry results we do anticipate the industry will need to respond.

Blog post based on original article drafted by John Mileski, senior vice president of agency field operations at Safeco Insurance

Sources:

[1] U.S. Department of Transportation’s Federal Highway Administration

[2] National Highway Traffic Safety Administration

[3 Insurance Research Council

[4] Strategy& Price WaterHouse Coopers, 2016 Auto Industry Trends

Read the full article at www.rralv.com

Safeguard Your Treasured Belongings … Jewelry, Sports Memorabilia and Everything in Between

Tom Raasch — Thu, 15 Sep 2016 06:10:00 GMT

Safeguard Your Treasured Belongings …

Jewelry, Sports Memorabilia and Everything in Between

You’re a diligent and responsible homeowner or renter, always ensuring your insurance policy is current and your payments are made on time. However, did you know that some of your possessions might have limitations to their coverage?

Let’s test your insurance knowledge. Which of the following situations is 100% covered by a standard insurance policy?

A. Several items from an inherited set of Tiffany silverware have gone missing after a party.

B. You forget your Rolex® in a hotel room.

C. A hot water heater bursts and floods the basement, destroying a 1986-1987 Fleer Michael Jordan Rookie Card.

D. None of the above.

The correct answer is “D” But why?

Homeowners insurance is designed to help protect against unanticipated losses caused by fires, thefts and other disasters, however, it doesn’t cover accidental losses like mysterious disappearances (“b”). Additionally, expensive things that are easily stolen (“a”) or valuable, and difficult to replace items (“c”) may be subject to sub-limits, which is the maximum amount an insurer will pay as specified by the policy.

To avoid falling victim to insufficient coverage, First Dependable Insurance recommends taking the following three steps:

1. Create and maintain an inventory. First and foremost, always keep an up-to-date inventory of your possessions. Be sure to take photos, provide descriptions, what you paid, and include the purchase date, serial numbers and copies of receipts when possible. The initial process of building an inventory may be tedious, but the end result will prove invaluable in the unfortunate event of an unexpected loss. Several apps exist that make getting started a little easier, with an added benefit of allowing you to access your information from more than one location. And remember to add new purchases, such as anything Santa left under your Christmas tree, or Hanukkah, birthday and wedding gifts to ensure you have an accurate record of what you own.

2. Get appraisals. An appraiser will help you determine the value of your hard to replace items. He or she will provide you with a written report, which includes the full description of the item and the procedure used to estimate the item’s current value. Pricing will vary by state and the appraiser’s area of expertise. American Society of Appraisers, Appraisers Association of America and International Society of Appraisers are great resources to find an appraiser who meets your requirements.

3. Call First Dependable Insurance. Most insurers offer additional personal property insurance to cover expensive and/or irreplaceable belongings. First Dependable Insurance will double-check that your inventory has all of the information that would be required if you needed to file a claim. Then discuss how to amend your policy, if needed. First Dependable Insurance may recommend raising your limit of liability or purchasing a “floater” policy, which covers losses of any type, including accidental.

Additional items that may not be fully covered by a standard policy include fine art, rare stamps or coins, wine collections, antiques, expensive jewelry and collectibles.

Read the full article at www.rralv.com

Safety Tips for Your Summer Swims

Fri, 05 Aug 2016 20:00:00 GMT

When the sun is out and the weather’s warm, people flock to the water — whether it’s the beach, a lake, a river or a backyard pool. But, wherever there’s water, there’s also danger.

According to the U.S. Centers for Disease Control and Prevention, about 10 people drown every day — and two of those are children 14 or younger. Even seasoned swimmers can find themselves in dangerous situations, so brush up on these basic safety tips before your first – or next – summer swim:

Swimming Safety Tips

Consider the swimming level of everyone in your party before selecting a place to swim. Just because swimmers are comfortable in a pool doesn’t mean they can handle swimming in the ocean.
Swim in designated areas with a lifeguard present, and follow any posted warnings or instructions. However, don’t rely on the lifeguard alone. Never leave young children or other inexperienced swimmers unattended or in the care of another child.
Teach children to ask permission before going near the water. If a child is missing, always check the water first.
Young children should wear swim diapers and Coast Guard-approved life jackets. Even still, maintain constant supervision.
Avoid alcohol or drug use during water activities.
Know CPR and other life-saving measures.
Don’t dive into unfamiliar water. You never know what might be below the surface.
In open bodies of water, watch for dangers that just aren’t present in pools. These can include plants and animals, as well as riptides, currents, waves and rapids. If you see someone in danger, reach out to them with a pole or tree branch – anything that extends your reach – or throw them a floating object while someone else alerts the lifeguard. Wading in yourself could put you in just as much danger, so leave the water rescues to the professionals.
Don’t swallow the water, no matter where you’re swimming. It could cause illness.
Check the weather and be aware of changing and potentially dangerous conditions.

If you happen to have a pool on your property (lucky you), you have even more responsibilities. Your pool should be completely surrounded by a locking fence, at least 4 feet tall, and all pools and spas should have compliant drain covers. Keep life-saving equipment, such as life rings and poles, within easy reach. If you have a small kiddie or wading pool, be sure to empty it after each use. A baby can drown in just 1 inch of water.

Summer fun in and around the water is for people of all ages — just keep in mind that some people need more supervision than others, and everyone needs to keep safety in mind at all times. Happy splashing!

Reposted with permission from the original author, Safeco Insurance.

Read the full article at www.rralv.com

After hours service now available for Mercury Insurance policyholders

Tom Raasch — Thu, 28 Jul 2016 19:30:00 GMT

Effective August 1st, 2016, First Dependable Insurance is pleased to announce a new after-hours Mercury Service Center for our Nevada customers.

The Service Center will be available to our Mercury policyholders Monday through Friday 5:00 P.M. to 8:00 P.M and Saturday 8:00 A.M. to 6 P.M.

Here is a sampling of what the Mercury Service Center team will be able to handle for you:

Personal auto policy changes. Changes that will be handled by the Service Center include addition of drivers, vehicles, change of lienholders and other basic policy changes. The Service Center will not handle policy cancellations or requests to reduce limits of liability.
Answering coverage questions/issues
Assisting with billing or account issues

You will be able to access the Mercury Service Center by calling their toll free number 1-800-503-3724 during the times listed above. During normal work hours Monday through Friday, customers will continue to receive service through our agency.

We appreciate your business and value your relationship with our agency. We are excited about this enhancement to the services provided by First Dependable Insurance.

Other numbers for after hours service:

Progressive policyholders 1-800-Progressive (evenings, weekends, holidays)

Safeco policyholders 1-888-481-6876 (evenings, weekends, holidays)

Read the full article at www.rralv.com

Are you a good driver?

Tom Raasch — Wed, 11 May 2016 18:43:00 GMT

Are you a good driver? Well, Safeco Insurance Company wants to reward good drivers. Safeco is introducing a new program called RightTrack®. This program will be available to all Las Vegas and Henderson drivers starting June 11, 2016. Customers enrolled in RightTrack will receive an up-front 5% discount, and a telematics device. At the end of the 90-day review period, you'll either keep their 5% discount (regardless of your driving activity) or you'll earn a discount up to 30%. The discount earned will remain for the life of your policy. Contact First Dependable Insurance today at 702-304-9998 for your Safeco Auto Insurance quote.

Safeco RightTrack video

Read the full article at www.rralv.com

Tom Raasch from First Dependable Insurance Guest Speaking on AM 720 KDWN

Tom Raasch — Thu, 21 May 2015 19:55:47 GMT

Read the full article at www.rralv.com

Three Major Insurance Events of Which Every Homeowner Should Be Aware

Mercury Insurance — Thu, 21 May 2015 18:39:00 GMT

Purchasing a home can be a rewarding, pricey and overwhelming experience, especially for first-time buyers. And, if your aren’t a Gates, Buffett, Zuckerberg or one of the many others found on the Forbes 400, chances are your house will be one of the most significant investments you’ll make, so choosing the right home isn’t a decision that’s made lightly.

Shopping for a home can be exhausting as you research neighborhoods, tour homes, apply for a loan, negotiate the purchase price, organize inspections, and wade through a seemingly endless stack of paperwork. You also need to select an insurer and homeowners insurance policy. This is critical, as it will protect your investment for as long as you own your home, so it’s one of the most important decisions you’ll make. To protect your investment, your belongings and loved ones, following are some tips for both new and veteran homeowners.

1. Fire and water damage are the two most prevalent causes for insurance claims.

The National Interagency Fire Center reports that there were 63,312 wildfires and 3,595,613 burned acres in the U.S. in 2014. Additionally, according to the National Fire Protection Association, there were 487,500 structure fires in 2013, which resulted in $9.5 billion in property damage and amounted to approximately one home structure fire per 85 seconds. There are several steps a homeowner can take, both inside and outside of the home, to prevent becoming one of these statistics.

Inside:

Install at least one smoke detector on each floor and check them regularly to ensure they’re working. Be sure to put in fresh batteries at least twice a year.
Don’t overload wall outlets or use items with frayed electrical cords.
If you have a chimney, hire a chimney sweep to inspect and clean it before cold weather arrives. It’s also a good time to check and be sure that your chimney cap is in good condition to catch any stray embers coming up the chimney stack.
Keep flammable items (e.g., curtains, furniture, etc.) away from portable heaters.
Don’t leave lit candles unattended and keep them out of reach of children and pets.
Keep a fire extinguisher in your home. Make sure everyone knows how to properly use it and have it inspected once a year.
Never leave a lit stove unattended and keep flammable materials away from the burners.
Be sure to have an escape plan in the event of a fire and practice it with your family twice a year.

Outside:

Regularly mow your lawn and clear away clippings, dry twigs and branches from buildings. Be sure to clean your roof and gutters of leaves and other debris that can become a fire starter.
Keep branches trimmed so they don’t hang lower than six feet and bushes pruned to no higher than 18 inches.
Keep garden hoses attached to faucets to aid fire personnel, if necessary.
If a wildfire starts, track smoke and its impact on your visibility to determine if you should evacuate prior to an official evacuation notice being put in order. Monitor if the fire and smoke change direction to determine your safest evacuation route.

Using fire-resistant materials around your property and on your home provides added protection and may even save you money in the event of a loss. For example, fire-retardant plants like rockrose, ice plant and aloe resist ignition. Fire-resistant shrubs to consider when landscaping include hedging roses, bush honeysuckles, currant, cotoneaster, sumac and shrub apples, and hardwood, maple, poplar and cherry trees are less flammable than pine, fir and other conifers. Speak with your local garden center to learn more about the plants that can protect your home from fires.

Water damage is the second largest cause of insurance claims; however, certain circumstances aren’t covered by a standard homeowners policy. To differentiate, damage that is caused by weather (e.g., natural flooding from hurricanes, flash floods, etc.) is referred to as flood damage and requires flood insurance, which is available through the National Flood Insurance Program. Water damage is usually caused by bursting or leaking pipes, plumbing issues, malfunctioning household appliances (refrigerators, hot water tanks, dishwashers, washing machines) and HVAC issues.

Homeowners can take the following steps to protect against water damage.

Inside:

Check appliance hoses once a year and replace any that are cracked or have leaks.
Review your appliance owner’s guide for maintenance tips to keep them in good working order.
Inspect pipes for cracks and leaks. If any are detected, have them repaired immediately.
Make sure showers, tubs and sinks are properly sealed and caulked.
Know the location of your main water shutoff valve so you can turn off your water supply in the event of a burst pipe or damaged hose.

Outside:

Keep rain gutters and downspouts free of debris. Install gutter guards to prevent debris from accumulating and position downspouts to direct water away from the house.
Ensure windows are properly sealed and caulked.
Inspect the roof for damaged, missing or old shingles and replace them.

2. Some of your belongings may have limitations to their coverage.

Certain items like fine art, rare stamps or coins, wine collections, antiques, expensive jewelry and collectibles may not be fully covered by a standard homeowners insurance policy. Speak with First Dependable Insurance to ensure you have the right amount of coverage for everything you own.

3. Home renovations may impact your insurance rates.

If you’re considering building an addition, remodeling or putting in a pool, keep in mind that your insurance premiums will likely be impacted to protect this new investment. Square footage is one factor in determining a premium. Additionally, if renovations include higher value materials, the replacement cost in the event of a loss will go up, affecting your insurance rates accordingly. Swimming pools increase your liability exposure, which will increase your premium; however, pools can be great assets. In addition to providing a fun way to cool off on hot days, pools can act as a barrier for wildfires and an added source of water for firefighters, if necessary. And most renovations add to the comfort and livability of a home, as well as its resale value, which is well worth the added protection. Speak to First Dependable Insurance to determine how much your premiums will change and be sure to ask about any money saving discounts.

Read the full article at www.rralv.com