As you may have heard recently in the news, the price of gold has been increasing at a large rate. This includes almost all type of gold, silver, platinum, diamonds and other stones. We encourage you to have all of your jewelry items re-appraised to ensure that correct amount is listed on your insurance policy. A good rule of thumb is to have your items appraised by a gemolist every 3 years. Once you have the items appraised, be sure to send us a copy of the updated appraisal so we can update your policy.
04/03/08 | Religious Institution Program through Citizens/Hanoever
Korotkin Insurance Group is proud to offer the Citizens/Hanover Customized Insurance Program for Religious Institutions, now available to organizations in the state of Michigan.
The Citizens Insurance Religious Institution Program offers important coverages such as Pastoral Liability, Directors and Officers Liability and Sexual Misconduct with high available limits of coverage, along with property, liability, fine arts and workers compensation at very competitive premiums. In addition, coverage for related schools is available in one convenient insurance package including preschools and grades K-12. Citizens/Hanover currently insures many houses of worship in other states and is anxious to insure many more with the introduction of this fine program throughout the state of Michigan.
Citizens/Hanover has a strong Best financial rating of A- XIV and supports Michigan with an important presence in the state. Their regional headquarters is located in Howell with Michigan claims serviced from this office. Korotkin Insurance Group prides itself on their knowledgeable staff and outstanding service for your insurance needs.
To contact a staff member for assistance in obtaining a quote for this great program, use the contact a representative option in our Business Section of this website.
PLEASE SEE ATTACH BROCHURE FOR MORE DETAILS!
02/06/08 | Employment Practice Liability - Premium Indication Request Form
Why you need Employment Practices Liability Insurance:
A private company is more likely to have an Employment Practices Claim than a General Liability or Property Claim
Almost 75% of all litigation against corporations involves employment disputes
65% of employers who have fired an employee have been hit with a lawsuit
56% of all employment cases result in a verdict for the plaintiff
15% of all plaintiff verdicts exceed $1,000,000
The average cost to defend an Employment Practices claim is $150,000 and the median award is $250,000
Don’t wait until it’s too late! Insure your exposure now
Can you afford to expense $150,000 to defend yourself against an Employment Practices claim?
Please see attached form to request a quote today!
The vacation seasons is in full swing, but before you jump into that rental vehicle, make sure you understand the contract you have just signed.
As most of us are aware, a rental vehicle is a temporary substitute handled with the same coverage we have under our auto policy. Through most insurance carriers they extend the broadest coverage an insured has on their policy and may also cover loss of use and the cost of an appraisal in the event of an accident. This exceeds most coverage extended by other companies in the insurance industry.
However, it has recently been brought to our attention that Budget Rent A Car has changed the language in their contract leaving many renters liable for uncovered vehicle damage. The current language if you do not accept their Loss Damage Waiver is as follows:
“you are responsible; and you will pay us for all loss of or damage to the car regardless of cause, or who, or what caused it. If the car is damaged, you will pay our estimated repair cost, or if, in our sole discretion, we determine to sell the car in its damaged condition, you will pay the difference between the car’s retail fair market value before it was damaged and the sale proceeds.”
The final portion of this contract is the area that can really affect a renter’s pocketbook. A real life example of this is an insured who rented a 2007 Ford Freestar valued at $26,500.00. The vehicle was involved in an accident that resulted in $6,828.35 damage. The loss of use charge was $945.00, and the appraisal cost $100.00. Since this vehicle was obviously not a total loss, the insurance carrier covered these charges and paid $7,873.35 to Budget Rent A Car. Instead of repairing the vehicle, Budget opted to sell it at auction for $11,700.00 in its damaged condition. Taking into consideration the sale of the vehicle ($11,700.00) and the claim paid by the insurance carrier ($7,873.35), they billed the insured the difference: $6,926.65.
We spoke to Budget Rent A Car on this issue. Their solution is for the renter to take the Loss Damage Waiver at $21.99 to $23.99 per day added to the rental charge.
At this time, they do not anticipate a change in their contract language. We have been in contact with Enterprise and Hertz in Michigan. Neither of these companies has this type of language in their contract at this time.
Ultimately, we want our clients to go where they feel most comfortable renting a vehicle, but please contact our agency if you have any questions regarding the contract you are signing or your coverage if you choose not to take their insurance coverage offered by the rental agent at (248) 352-5140
