Rocket Insurance? Yeah, It’s a Thing! Kind Of…

Oh, so you wanna buy a rocket? Alrighty Mr. Musk, I suppose we can help you out with an insurance quote so you have an idea what your continued costs will look like…you know, besides the upkeep of having NASA on your retainer to do your bi-yearly tune ups on your new set of, jets? Is that what’s on the bottom of a rocket? What makes it “go-go”? We may never know! (Hey! That rhymed!) Anyways, let’s get into it!

Image of rocket taking off via Pixabay user WikiImages

First thing to note is that you’ll have to consider if this is a “crewed” (an endeavor manned by a group of people on board), or an “uncrewed” (an endeavor not manned by any people on board, but rather from a control room) mission. 

If you’re a fun person you’ll probably be on the ship, but we’ll cover the “uncrewed” insurance first.

Image of rocket landing via Pixabay user Free_Photos

Uncrewed Mission:

You’ll need to have third party liability coverage for this one in the event that your rocket ship causes damage to any person(s) or property while you send your hunk of metal up and up. Another thing to note is that you’ll have to prove financial responsibility in order to obtain a license from the government to actually launch your rocket, if you’re launching from U.S. soil. You’ll also have to take into consideration that as more and more companies launch their own rockets into space, the risk of collision in orbit or on the ground significantly increases. So, all in all, you’re looking at this costing a pretty penny.

Now, because we know you’re a fun person, let’s get into the logistics of insuring a “crewed” launch.

Image of astronaut in space over Earth via Pixabay user WikiImages

Crewed Mission:

So the type of insurance you select is going to be based on what people are making up this crew. Since you’re on this blog, we’re going to assume you aren’t sending NASA astronauts, so we’ll just skip that part. Seeing as you’ll either be sending up company employees or third-party participants, you’ll need to look into some type of worker’s compensation policy. Bummer you can’t use that NASA money, maybe you should reconsider what you’re hoping to do in your free time?

Don’t know if you know, but space has an awful lot of effects on the human body. From kidney stones, loss of bone density, vision problems, and the increased chance of developing cancers, you may want to double consider your free time activities – especially if you’ll be fronting the bill for the insurance on your crew and self! 

Image of Saturn in the distance from a far off planet via Pixabay user 8385

You’ll want to snag some liability waivers for your fellow flyers, and again, deeply look into why you are trying to send yourself to space? Was 2020 really that bad? Are you okay? Should we call someone from NASA to tell you to breathe, and be thankful you can do that without a 280 pound space suit?

Anyways, hope this was helpful and that you are truly reconsidering this pipe dream because in all honesty, you’re definitely not gonna make it. I mean, you literally read a blog from an insurance company in Anderson, Indiana for this information. What even are your priorities?

Article written by contract writer and digital media coordinator: Candace Cox. You can reach her at socials@howardwebbins.com or candacecox96@gmail.com.

Image of Candace Cox

Candace Cox
Contract Writer &
Digital Media Coordinator

What Should You Consider Before Canceling Your Policy?

It’s quite common that people will wait until the date before renewal to cancel their insurance policy to avoid any penalty fees. However, sticking with your insurance policy to avoid a penalty, may actually be the worse of the two choices!

Here’s what you may want to consider when you’re contemplating a switch in your insurance policy…before the renewal date.

Image of sign that says, "Time to say goodbye," via Pixabay user geralt

Ask for the specific cost of the “penalty.”

The penalty rate could be $20, $500, or any other rate. It’s hard to give a definitive price, because just like policies vary from person to person, so do the penalty rates. Talk to your insurance agent before making this decision, because you may find you can switch policies sooner, rather than later. 

Image of hands counting money via Pixabay user Frantisek_Krejci

Compare the annual cost of the new policy to the annual cost of the policy you want to cancel.

A good number to keep in your mind is 10. If the difference in cost is under 10% for the year, your insurer would be more inclined to help you make the switch or even match the new price. In the grand scheme of things, 10% should not make a drastic difference to an insurance company.

If your company is still hesitant or denies matching the penalty price, then bust out those math skills and calculate whether or not you come out ahead after paying the penalty and what your new rate would be. If you come up ahead – you win, if you come up even – you win, if you come up close to even – you sort of win! In all seriousness, you need to do this and decide if it’s worth it to you, because at the end of the day, it’s your money and your policy. 

Image of scale with question marks on each side via Pixabay user qimono

Compare the differences in policy advantages and coverage between the new policy and your current one.

Agents from the two different policies should help you locate the top perks and the downsides to the policies you are considering. If the policy you are hoping to switch to has services or features that better suit your lifestyle needs, it may be worth paying a one time sum to make the switch. 

Image of calculator and paperwork via Pixabay user stevepb

Understand payment terms.

Insurance companies have varying payment policies. You should make sure to study the terms of these policies and find the one that works best for you.

Image of books around a door via Pixabay user ninocare

Determine if there will be consequences on other policies as a result of canceling the policy in question.

Many people are surprised when they are hit with the reality of the multi-policy perk no longer working for them. This comes about when someone makes the choice to split their insurance policy between two different insurers, and they no longer get that bundled policy discount.

For instance: You have your home and auto insurance under one insurer, so they give you a nice discount that brings the two rates down and makes your wallet happy. Then you find another insurer that can get your home insurance at a far more discounted rate, so you make the leap and unbundle your policies with your initial carrier. Your next bill comes around, and you are shocked to see that your home insurance rate may be lower, but your auto rate has suddenly jumped and you’re actually paying more now! This is another thing you’ll want to discuss with your insurer before making a switch, because who wants to pay more for their insurance when they thought they would be paying less?

Article written by contract writer and digital media coordinator: Candace Cox. You can reach her at socials@howardwebbins.com or candacecox96@gmail.com.

Will I Be Covered If My Dog Bites a Trick-or-Treater?

Every year, 4.5 million people are subject to a dog bite in the U.S., and 800,000 of them have to seek medical attention for that dog bite (CDC). The question remains though, are you covered by insurance if your dog takes a snap at a ghoulish trick or treater, or anybody else?

Three cartoon dogs in costumes via Pixabay user Kyrcat

The short answer is, “yes;” however, you know there’s almost always a caveat to these kinds of claims. So we’re here to break that down for you quickly, and easily, so you know you’re taken care of this spooky holiday, and any other day of the year!

Dog in pumpkin costume via Pixabay user czaran19

Most insurance companies will have an “excluded breed list” that will have all the breeds that they will not include liability coverage for. It will vary company to company, but you’ll most commonly find Pitbulls, Rottweilers, German Shepherds, Dobermans, and Cane Corsos. 

Dog dressed up as a witch via Pixabay user YamaBSM

Some companies go based on “bite records”. Essentially, the agency will look into your dog’s past, and see if there have been any public records made that show instances of your pup using someone as a chew toy, beyond the universal or playful nip dogs sometimes take.

Dog dressed like general via Pixabay user BiancavanDijk

In general though, animal liability will be covered on your homeowner’s policy. This goes for all domestic pets: dogs, cats, birds, ect. 

Dog dressed like a princess via Pixabay user skeeze

One last thing to note is that honesty is always the best policy. Don’t play “dumb” with your insurance agent if you have a hybrid dog (mutt), by saying that your dog is, “mosty a labradore,” when you know it’s more pit (or any other excluded breed) than lab. This will only set you up for a headache in the future! Simply let your agent know what mixed breed your dog is (as best as you can gather), and get written confirmation from them saying that they will cover this animal under your homeowners policy. Once it’s in writing, they have to honor that promise of coverage; leaving you and your pup safe!

Dog dressed as a unicorn via Pixabay user Dandarnell

As always, we’re looking out for you and your loved ones – even if they’re covered in fur and drool all over the place! Call, (765) 644-8847, or email, quotes@howardwebbins.com, today to discuss your options and any questions you may have regarding your insurance plan! 

Article written by contract writer and digital media coordinator: Candace Cox. You can reach her at socials@howardwebbins.com or candacecox96@gmail.com.

 

Let’s Look Inside Your Home – A How To Guide to Taking a Home Inventory 

It’s best to get ahead of your home inventory before it gets ahead of you. Start it now, before it becomes too much to handle!

Image of house on a rainy day via Pixabay user Pexels

When to Do a Home Inventory:

  • When you move: This is a great time to take inventory of your belongings because you are in the process of getting it all situated, and probably even getting rid of items you don’t have anymore.
  • Spring Cleaning: Another great time to take your inventory is when you go through your house and clean things out for that annual garage sale! 
  • Now: This is sort of a joke, but it’s funny because it’s true! If you don’t plan on moving or aren’t into the idea of a garage sale, you should really get on your home inventory now! There’s no reason to wait on protecting yourself, so hop to it! 

Modern kitchen interior via Pixabay user Giovanni_cg

Where to Start: 

  • Choose a contained area to get this going! For instance, going through each of your bathrooms and logging what home decor, products, and so on you have in there will be a small project that you can finish in less than an afternoon. Then continue this process: move onto the bedrooms, closets, living room, family room, dining room, kitchen, office/library, and throughout your whole home. Before you know it, you’ll be finished and prepared for what could happen!
  • Recent purchases in another great way to go through your inventory, by logging the purchases you have made, you’ll be able to start a consistent digital log that you continuously update. 

Image of living room close up scene via Pixabay user karishea

How to Log:

  • Spreadsheets: Using a digital spreadsheet, that’s organized by room, will allow you to log what you have with basic information about the product, the location of it in the room, the cost of the item, where it was from, serial numbers (if the tem has it, normally found on the back or bottom of items), and the date you logged it. 
  • Videos: Taking a video of each room and the contents within it, allows you to have a visual representation of the items you have in your home. This should be done in small bursts to avoid overly large files being stored, so doing it by room and by section of the room will be a big help to that. For example – your logging your bedroom. Video the sleeping area, your getting ready area, and your closet in three separate videos.
  • Photos: This is the most time consuming method to this, and won’t be able to tell you how much something costs, where it was from, and so on. This will, however, serve you in the long term if you are trying to remember something after a disaster strikes. 

Cozy bedroom interior via Pixabay user qimono

Thing to Remember: 

  • Special or high value items may need special coverage outside of your home coverage policy, so you’ll want to log those with your insurance company and be sure they are aware of it before something may happen. 
  • Items in an offsite storage center need to be logged as well. They’re just as much a part of your home, even if they aren’t in the home. Think of these items like you kid that’s gone off to college, still part of the family, just not in the home anymore!
  • Keeping proof of value is also an important thing to do if you have the ability. Taking a photo of the receipt or finding a link to the product online to put into your log will serve you well. 
  • Whatever method you choose to log your home inventory, you need to make sure it is stored in a safe place! If you choose to do it on paper, you need to store that in a safe box off site, if it’s a spreadsheet or videos/photos, we highly suggest saving it to a cloud storage of some kind like Google Drive, DropBox, and the many other online storage options. Don’t simply rely on a harddrive, because what are you going to do if it melts in a house fire or ends up in the river due to a flood? 
  • Doing this home inventory will help you prove your loss – this can be through receipts, photos/videos/, and even a friend saying that they have seen that product in your home before (although this last one is the weakest form). 
  • The limit on your policy is what an insurance agency will pay UP to, this doesn’t mean you are going to get the full claim payment or more than what your coverage is. 
  • Lastly, don’t get overwhelmed! This is a big project, we won’t try to fool you on that, but once get started, keep going! You can do it, and it doesn’t need to be completed in one day!

We hope this cleared up any questions or confusion you may have had, or simply taught you something new today! As always, we’re here for you – call, (765) 644-8847, or email, quotes@howardwebbins.com, today to discuss your options and any questions you may have regarding your insurance plan! 

Article written by contract writer and digital media coordinator: Candace Cox. You can reach her at socials@howardwebbins.com or candacecox96@gmail.com. 

 

What’s the Difference Between ‘Insure’ and ‘Ensure’?

Gee, thanks for asking! Here at Howard Webb we pride ourselves on making sure YOU know as much as we know, that way you can be fully covered to your liking and needs. 

Let’s just dive right into it, shall we?

Cartoon image of woman walking a tightrope with a hand there to catch her via pixabay user mohamed_hassan

Insure: V –

  1. to arrange for compensation in the event of damage to or loss of (property), or injury to or the death of (someone), in exchange for regular advance payments to a company or government agency.
  2. secure or protect someone against (a possible contingency).

Ensure: V –

to make certain that (something) shall occur or be the case.

Cartoon image of man walking on rope held by a hand via pixabay user mohamed_hassan

In short, these two words find themselves being known as “homophones”, a set of words that are spelled different, sound the same, and have different meanings. Did I forget to mention that I majored in Writing through the English department in my undergrad? Oops!

Anyways, let’s get back into how these often get mixed up in the insurance world! 

Cartoon image of man at a computer via pixabay user ROverhate

“Insure” is the term we would use to break down how you, your family, your business, your home, your auto, and your recreational vehicles would be covered by insurance. I.e., you have a million dollar policy on your small gym to protect you and the business if anyone were to hurt themselves while on your premises. Easy enough to understand, right? You’re such a pro at this!

“Ensure” is the term we use to let you know that we have your back, we can be trusted, and we’re going to look out for you when push comes to shove. I.e., you purchase a life insurance policy through our company, and we’re going to make sure that you get the exact coverage you need, and want, because we want nothing more than for you and your loved ones to be safe and happy. 

Cartoon image of man and woman looking at paperwork via Pixabay user mohamed_hassen

In essence, we ensure that you will be properly insured if you choose us to cover you!

We hope this cleared up any questions or confusion you may have had, or simply taught you something new today! As always, we’re here for you – call, (765) 644-8847, or email, quotes@howardwebbins.com, today to discuss your options and any questions you may have regarding your insurance plan! 

Article written by contract writer and digital media coordinator: Candace Cox. You can reach her at socials@howardwebbins.com or candacecox96@gmail.com.